(HOLD) SAGE CORE RESERVES ETF
NAV as of 9/20/2019
$99.86
1 Day NAV Change as of 9/20/2019
$0.03
HOLD
Overview
The AdvisorShares Sage Core Reserves ETF (NYSE Arca: HOLD) seeks to preserve capital while maximizing income. HOLD seeks to achieve its investment objective by investing in a broad range of fixed-income securities, U.S. dollar- denominated investment grade debt securities, including mortgage- or asset-backed securities rated Baa- or higher. The average duration of the Fund will vary on the forecast for interest rates and will normally not exceed one year. HOLD is managed by Sage Advisory Services (“Portfolio Manager”). The Sage fixed-income investment process is based upon implementing a top-down approach focused on actively managing portfolio duration risk, yield curve positioning, market segment allocation, and security selection.
| Symbol | Exchange | Inception Date | CUSIP | Indicative Value |
|---|---|---|---|---|
| HOLD | NYSE Arca | 1/14/2014 | 00768Y651 | HOLD.IV |
<strong>Why Invest in HOLD?</strong>
- For a Potentially Higher Yield and Total Return – HOLD has the potential to deliver competitive returns compared to other liquid options while offering diversification and a risk profile consistent with short-term fixed income. HOLD will not seek to maintain stable values and offers no guarantees.
- For Efficient & Scalable Cash Management Access – HOLD gives all investors access to the same quality of money management service that Sage has provided to their institutional and private clients for over 15 years, without needing to meet their minimum investment, along with the potential added benefits of the ETF structure, which include intraday trading and transparency.
- For Diversification and Risk Management – HOLD may offer added diversification with a risk management process focused on minimizing volatility and maintaining liquidity in all environments.
<strong>Key Attributes</strong>
- Top-Down Approach – The portfolio manager’s fixed-income investment process is based upon implementing a top-down approach focused on actively managing portfolio duration risk, yield curve positioning, market segment allocation, and security selection.
- Low Duration – HOLD’s low average duration, targeted to be less than 1 year, may potentially make it less sensitive to interest rate changes than other bond ETFs with higher average durations.
- Flexible Mandate – The portfolio manager maintains the ability to add diversification, through flexible credit quality and expanded security categories, to manage risk and return.
- Active Risk Management – HOLD seeks to deliver efficient cash flows, with an emphasis on minimizing volatility and mitigation of risk in all market environments while seeking to maintain a high level of liquidity.
- Fixed Income Experience – The portfolio manager is an experienced fixed income manager with a long history of delivering solutions to the institutional marketplace. HOLD’s investment committee offers more than 150 years of combined investment experience.
<strong>About the Portfolio Managers</strong>
Mark C. MacQueen, Co-Founder, Executive Vice President Portfolio Management
Mr. MacQueen has more than 30 years of domestic and international portfolio management and institutional securities trading experience. He began his career as a member of the Institutional Government Securities Trading desk at Merrill Lynch Government Securities in New York. He was later assigned to the Institutional Fixed Income Trading desk in London as Vice President and Senior Trader responsible for managing the firm’s European-based risk capital position. Following his Merrill Lynch tenure, Mr. MacQueen joined APS Financial Corp. in Austin, Texas as Director of Fixed Income Portfolio Research. He went on to become a principal of the Tejas Securities Group as Director of Fixed Income Trading and Research. In 1996, Mr. MacQueen and Robert G. Smith, III, founded Sage Advisory Services, Ltd. Co. in Austin, Texas. Mr. MacQueen received a B.S. in Finance from the University of Delaware.
Thomas H. Urano, CFA, Principal and Managing Director
Mr. Urano is a member of the investment committee and brings over 15 years of experience and client account management and fixed income trading to the firm. He serves as a portfolio manager and senior trader for the taxable fixed income and equity strategies. Before joining Sage, Mr. Urano served as a Vice President on the institutional trading desk at Credit Suisse Asset Management in New York. In addition, he was a member of the fixed income portfolio analytics and accounting group for Morgan Keegan. He is also a Chartered Financial Analyst Charterholder and member of the CFA Institute. Mr. Urano received a B.A. in Economics from The University of Texas.
Fund
Price History
As of 9/20/2019
| NAV | $99.86 | Closing Price | $99.82 |
| Change | $0.03 | Close Change | $-0.01 |
| Shares Outstanding | 1,075,000.00 | Volume | 117 |
| 4PM Bid/Offer Midpoint | $99.82 | Premium Discount | $-0.04 |
| Assets Under Management | $107,346,294.67 |
Premium/Discount Historical Data | NAV Historical Data
Shares are bought and sold at market price (closing price) not NAV and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined), and do not represent the return you would receive if you traded at other times. Holdings and allocations are subject to risks and to change. A holding identified with an “MM” at the end of its name indicates it is a Money Market fund.
FUND
Performance
As of 8/31/2019
| NAV | Market Price Return | Barclays US Treasury Bill 1-3 Month Index | |
|---|---|---|---|
| 1 Month | 0.28 | 0.24 | 0.18 |
| 3 Months | 0.80 | 0.76 | 0.57 |
| YTD | 2.26 | 2.22 | 1.58 |
| 1 Year | 2.77 | 2.78 | 2.31 |
| 3 Years | 1.83 | 1.83 | 1.44 |
| 5 Years | 1.30 | 1.33 | 0.90 |
| Since Inception (1/14/2014, Annualized) | 1.18 | 1.17 | 0.80 |
As of 6/30/2019
| NAV | Market Price Return | Barclays US Treasury Bill 1-3 Month Index | |
|---|---|---|---|
| 1 Month | 0.31 | 0.25 | 0.21 |
| 3 Months | 0.82 | 0.83 | 0.62 |
| YTD | 1.75 | 1.70 | 1.22 |
| 1 Year | 2.74 | 2.74 | 2.27 |
| 3 Years | 1.74 | 1.65 | 1.33 |
| 5 Years | 1.21 | 1.20 | 0.83 |
| Since Inception (1/14/2014, Annualized) | 1.13 | 1.12 | 0.76 |
Performance data quoted represents past performance and is no guarantee of future results. All Fund data and performance data quoted is believed to be accurate, and unless otherwise stated, is sourced from the Fund administrator, the Advisor’s or Sub-Advisor’s proprietary data, and Morningstar. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized.
Top Ten
Holdings
As of 9/20/2019
| Date | Account Symbol | Stock Ticker | Security Number | Security | Shares | Price | Market Value | Weight % | Asset Group | |
|---|---|---|---|---|---|---|---|---|---|---|
| 09/20/2019 | HOLD | 912828VF4 | US TREASURY N/B 1.375 5/31/2020 | 4,835,000.00 | 99.62 | 4,816,491.04 | 4.49% | TN | 1 | |
| HOLD | 88166HAD9 | TEVA PHARMA FIN IV LLC 2.25 3/18/2020 | 2,611,000.00 | 99.00 | 2,584,890.00 | 2.41% | FB | 1 | ||
| HOLD | 25470XAQ8 | DISH DBS CORP 5.125 5/1/2020 | 2,460,000.00 | 101.38 | 2,493,825.00 | 2.32% | B | 1 | ||
| HOLD | 268648AQ5 | EMC CORP 2.65 6/1/2020 | 2,185,000.00 | 99.88 | 2,182,268.75 | 2.03% | B | 1 | ||
| HOLD | 02582JHJ2 | AMXCA 2017-6 A 2.04 5/15/2023 | 2,150,000.00 | 100.06 | 2,151,305.48 | 2.00% | MR | 1 | ||
| HOLD | 17305EGB5 | CCCIT 2017-A3 A3 1.92 4/7/2022 | 2,145,000.00 | 99.90 | 2,142,774.56 | 2.00% | MR | 1 | ||
| HOLD | 46625HQK9 | JPMORGAN CHASE & CO FRN 3/1/2021 | 2,096,000.00 | 101.55 | 2,128,542.08 | 1.98% | B | 1 | ||
| HOLD | 254683BP9 | DCENT 2015-A2 A 1.9 10/17/2022 | 2,130,000.00 | 99.90 | 2,127,903.23 | 1.98% | MR | 1 | ||
| HOLD | 42824CAG4 | HP ENTERPRISE CO 3.6 10/15/2020 | 2,094,000.00 | 101.28 | 2,120,885.91 | 1.98% | B | 1 | ||
| HOLD | 28414HAF0 | ELANCO ANIMAL HEALTH INC 3.912 8/27/2021 | 2,070,000.00 | 102.26 | 2,116,710.32 | 1.97% | B | 1 | ||
| HOLD | 29278NAK9 | ENERGY TRANSFER OPERATNG 7.5 10/15/2020 | 1,985,000.00 | 105.31 | 2,090,412.57 | 1.95% | B | 1 | ||
| HOLD | 674599CU7 | OCCIDENTAL PETROLEUM COR 2.6 8/13/2021 | 2,000,000.00 | 100.50 | 2,010,079.88 | 1.87% | B | 1 | ||
| HOLD | 22546QAD9 | CREDIT SUISSE NEW YORK 5.4 1/14/2020 | 1,980,000.00 | 100.93 | 1,998,485.68 | 1.86% | FB | 1 | ||
| HOLD | 71654QBU5 | PETROLEOS MEXICANOS 3.5 7/23/2020 | 1,875,000.00 | 100.75 | 1,889,062.50 | 1.76% | FB | 1 | ||
| HOLD | 61761JB32 | MORGAN STANLEY 2.8 6/16/2020 | 1,595,000.00 | 100.44 | 1,602,015.77 | 1.49% | B | 1 | ||
| HOLD | 118230AJ0 | BUCKEYE PARTNERS LP 4.875 2/1/2021 | 1,575,000.00 | 101.66 | 1,601,085.45 | 1.49% | B | 1 | ||
| HOLD | 98956PAK8 | ZIMMER BIOMET HOLDINGS 2.7 4/1/2020 | 1,590,000.00 | 100.18 | 1,592,898.46 | 1.48% | B | 1 | ||
| HOLD | 024836AC2 | AMERICAN CAMPUS CMNTYS 3.35 10/1/2020 | 1,570,000.00 | 101.01 | 1,585,857.16 | 1.48% | B | 1 | ||
| HOLD | 494550BT2 | KINDER MORGAN ENER PART 3.5 3/1/2021 | 1,560,000.00 | 101.42 | 1,582,163.61 | 1.47% | B | 1 | ||
| HOLD | 38141EA58 | GOLDMAN SACHS GROUP INC 5.375 3/15/2020 | 1,495,000.00 | 101.50 | 1,517,488.01 | 1.41% | B | 1 | ||
| HOLD | 294429AM7 | EQUIFAX INC 3.6 8/15/2021 | 1,400,000.00 | 101.83 | 1,425,664.79 | 1.33% | B | 1 | ||
| HOLD | 14041NFN6 | COMET 2017-A4 A4 1.99 7/17/2023 | 1,400,000.00 | 99.99 | 1,399,841.10 | 1.30% | MR | 1 | ||
| HOLD | 06051GFN4 | BANK OF AMERICA CORP 2.25 4/21/2020 | 1,395,000.00 | 100.04 | 1,395,563.40 | 1.30% | B | 1 | ||
| HOLD | 65535HAB5 | NOMURA HOLDINGS INC 6.7 3/4/2020 | 1,326,000.00 | 101.98 | 1,352,293.47 | 1.26% | FB | 1 | ||
| HOLD | 00206RDV1 | AT&T INC FRN 7/15/2021 | 1,330,000.00 | 100.92 | 1,342,234.48 | 1.25% | B | 1 | ||
| HOLD | 281020AL1 | EDISON INTERNATIONAL 2.4 9/15/2022 | 1,350,000.00 | 98.88 | 1,334,832.43 | 1.24% | B | 1 | ||
| HOLD | 53117CAM4 | LIBERTY PROPERTY LP 4.75 10/1/2020 | 1,290,000.00 | 102.58 | 1,323,246.19 | 1.23% | B | 1 | ||
| HOLD | 92348PAA0 | VZOT 2017-2A A 1.92 12/20/2021 | 1,156,657.95 | 99.89 | 1,155,389.91 | 1.08% | MR | 1 | ||
| HOLD | 38143U8G9 | GOLDMAN SACHS GROUP INC FRN 2/25/2021 | 1,065,000.00 | 101.99 | 1,086,150.21 | 1.01% | B | 1 | ||
| HOLD | 172967JJ1 | CITIGROUP INC 2.4 2/18/2020 | 1,075,000.00 | 100.11 | 1,076,228.20 | 1.00% | B | 1 | ||
| HOLD | 37045VAM2 | GENERAL MOTORS CO FRN 8/7/2020 | 1,072,000.00 | 100.19 | 1,074,022.16 | 1.00% | B | 1 | ||
| HOLD | 00206RCK6 | AT&T INC FRN 6/30/2020 | 1,066,000.00 | 100.51 | 1,071,471.01 | 1.00% | B | 1 | ||
| HOLD | 785592AE6 | SABINE PASS LIQUEFACTION 5.625 2/1/2021 | 1,036,000.00 | 103.23 | 1,069,494.96 | 1.00% | B | 1 | ||
| HOLD | 25272KAD5 | DELL INT LLC / EMC CORP 4.42 6/15/2021 | 1,035,000.00 | 103.20 | 1,068,097.03 | 0.99% | B | 1 | ||
| HOLD | 38141GWG5 | GOLDMAN SACHS GROUP INC 2.6 12/27/2020 | 1,067,000.00 | 100.10 | 1,068,070.21 | 0.99% | B | 1 | ||
| HOLD | 247361ZL5 | DELTA AIR LINES INC 2.6 12/4/2020 | 1,065,000.00 | 100.23 | 1,067,487.49 | 0.99% | B | 1 | ||
| HOLD | 075887CF4 | BECTON DICKINSON AND CO FRN 12/29/2020 | 1,067,000.00 | 100.03 | 1,067,351.22 | 0.99% | B | 1 | ||
| HOLD | 30212PAH8 | EXPEDIA INC 5.95 8/15/2020 | 1,035,000.00 | 103.05 | 1,066,572.60 | 0.99% | B | 1 | ||
| HOLD | 14040HBP9 | CAPITAL ONE FINANCIAL CO 2.5 5/12/2020 | 1,065,000.00 | 100.13 | 1,066,393.00 | 0.99% | B | 1 | ||
| HOLD | 00912XBE3 | AIR LEASE CORP 3.5 1/15/2022 | 1,040,000.00 | 102.43 | 1,065,310.91 | 0.99% | B | 1 | ||
| HOLD | 00507UAP6 | ALLERGAN FUNDING SCS 3 3/12/2020 | 1,058,000.00 | 100.27 | 1,060,817.04 | 0.99% | B | 1 | ||
| HOLD | 06739GBP3 | BARCLAYS BANK PLC 5.14 10/14/2020 | 1,030,000.00 | 102.16 | 1,052,255.30 | 0.98% | FB | 1 | ||
| HOLD | 29250RAS5 | ENBRIDGE ENERGY PARTNERS 5.2 3/15/2020 | 1,035,000.00 | 101.30 | 1,048,502.73 | 0.98% | B | 1 | ||
| HOLD | 747262AK9 | QVC INC 4.375 3/15/2023 | 1,010,000.00 | 103.24 | 1,042,695.22 | 0.97% | B | 1 | ||
| HOLD | 00912XAU8 | AIR LEASE CORP 2.125 1/15/2020 | 1,035,000.00 | 99.92 | 1,034,136.17 | 0.96% | B | 1 | ||
| HOLD | 912828U73 | US TREASURY N/B 1.375 12/15/2019 | 1,015,000.00 | 99.87 | 1,013,671.78 | 0.94% | TN | 1 | ||
| HOLD | 981464EY2 | WFNMT 2015-B A 2.55 6/17/2024 | 997,000.00 | 100.31 | 1,000,116.22 | 0.93% | MR | 1 | ||
| HOLD | 02007XAE6 | ALLYA 2016-2 B 2.15 4/15/2021 | 1,000,000.00 | 99.98 | 999,809.40 | 0.93% | MR | 1 | ||
| HOLD | 808513AV7 | CHARLES SCHWAB CORP FRN 5/21/2021 | 955,000.00 | 100.06 | 955,532.23 | 0.89% | B | 1 | ||
| HOLD | 06406HCZ0 | BANK OF NY MELLON CORP 2.15 2/24/2020 | 940,000.00 | 100.04 | 940,343.69 | 0.88% | B | 1 | ||
| HOLD | 172967LB5 | CITIGROUP INC FRN 12/8/2021 | 898,000.00 | 101.17 | 908,542.21 | 0.85% | B | 1 | ||
| HOLD | 85207UAE5 | SPRINT CORP 7.25 9/15/2021 | 800,000.00 | 107.47 | 859,768.00 | 0.80% | B | 1 | ||
| HOLD | 00507UAQ4 | ALLERGAN FUNDING SCS FRN 3/12/2020 | 855,000.00 | 100.43 | 858,687.97 | 0.80% | B | 1 | ||
| HOLD | 70959WAH6 | PENSKE AUTOMOTIVE GROUP 3.75 8/15/2020 | 800,000.00 | 101.25 | 810,000.00 | 0.75% | B | 1 | ||
| HOLD | 23331ABK4 | D.R. HORTON INC 4 2/15/2020 | 800,000.00 | 100.62 | 804,932.09 | 0.75% | B | 1 | ||
| HOLD | 277432AQ3 | EASTMAN CHEMICAL CO 2.7 1/15/2020 | 804,000.00 | 100.08 | 804,604.12 | 0.75% | B | 1 | ||
| HOLD | 34528QFD1 | FORDF 2016-5 A1 1.95 11/15/2021 | 800,000.00 | 99.95 | 799,619.84 | 0.74% | MR | 1 | ||
| HOLD | 25470XAE5 | DISH DBS CORP 6.75 6/1/2021 | 755,000.00 | 105.63 | 797,468.75 | 0.74% | B | 1 | ||
| HOLD | 37045XBV7 | GENERAL MOTORS FINL CO 2.65 4/13/2020 | 795,000.00 | 100.17 | 796,343.30 | 0.74% | B | 1 | ||
| HOLD | 931427AA6 | WALGREENS BOOTS ALLIANCE 2.7 11/18/2019 | 744,000.00 | 100.03 | 744,192.15 | 0.69% | B | 1 | ||
| HOLD | 0258M0EE5 | AMERICAN EXPRESS CREDIT 2.2 3/3/2020 | 725,000.00 | 100.06 | 725,412.24 | 0.68% | B | 1 | ||
| HOLD | 126802DC8 | CABMT 2015-1A A1 2.26 3/15/2023 | 725,000.00 | 100.03 | 725,186.33 | 0.68% | MR | 1 | ||
| HOLD | 14041NFK2 | COMET 2017-A1 A1 2 1/17/2023 | 725,000.00 | 99.97 | 724,793.01 | 0.68% | MR | 1 | ||
| HOLD | 71654QAW2 | PETROLEOS MEXICANOS 6 3/5/2020 | 700,000.00 | 101.35 | 709,415.00 | 0.66% | FB | 1 | ||
| HOLD | 98163EAB2 | WOART 2018-C A2 2.8 1/18/2022 | 691,867.71 | 100.28 | 693,807.71 | 0.65% | MR | 1 | ||
| HOLD | 902494BB8 | TYSON FOODS INC FRN 6/2/2020 | 692,000.00 | 100.08 | 692,557.75 | 0.65% | B | 1 | ||
| HOLD | 96950FAD6 | WILLIAMS COMPANIES INC 5.25 3/15/2020 | 665,000.00 | 101.36 | 674,065.14 | 0.63% | B | 1 | ||
| HOLD | 370334BV5 | GENERAL MILLS INC 2.2 10/21/2019 | 673,000.00 | 99.99 | 672,961.63 | 0.63% | B | 1 | ||
| HOLD | 87165LAF8 | SYNCT 2015-1 A 2.37 3/15/2023 | 665,000.00 | 100.07 | 665,461.84 | 0.62% | MR | 1 | ||
| HOLD | 832696AF5 | JM SMUCKER CO 2.5 3/15/2020 | 660,000.00 | 100.11 | 660,714.72 | 0.62% | B | 1 | ||
| HOLD | 21036PAU2 | CONSTELLATION BRANDS INC 2 11/7/2019 | 650,000.00 | 99.95 | 649,647.65 | 0.61% | B | 1 | ||
| HOLD | 85205TAH3 | SPIRIT AEROSYSTEMS INC FRN 6/15/2021 | 639,000.00 | 99.97 | 638,786.76 | 0.60% | B | 1 | ||
| HOLD | 341081FW2 | FLORIDA POWER & LIGHT CO FRN 5/6/2022 | 627,000.00 | 100.00 | 627,008.78 | 0.58% | B | 1 | ||
| HOLD | 86562MAD2 | SUMITOMO MITSUI FINL GRP FRN 3/9/2021 | 615,000.00 | 101.84 | 626,332.16 | 0.58% | FB | 1 | ||
| HOLD | 929160AX7 | VULCAN MATERIALS CO FRN 3/1/2021 | 625,000.00 | 100.11 | 625,705.23 | 0.58% | B | 1 | ||
| HOLD | 0258M0DY2 | AMERICAN EXPRESS CREDIT FRN 9/14/2020 | 611,000.00 | 100.86 | 616,227.60 | 0.57% | B | 1 | ||
| HOLD | 294429AP0 | EQUIFAX INC FRN 8/15/2021 | 570,000.00 | 99.98 | 569,908.54 | 0.53% | B | 1 | ||
| HOLD | 913017CF4 | UNITED TECHNOLOGIES CORP 1.5 11/1/2019 | 570,000.00 | 99.91 | 569,490.92 | 0.53% | B | 1 | ||
| HOLD | 55279HAS9 | MANUF & TRADERS TRUST CO FRN 1/25/2021 | 520,000.00 | 99.98 | 519,917.90 | 0.48% | B | 1 | ||
| HOLD | 44891EAE9 | HART 2016-B B 1.82 11/15/2022 | 520,000.00 | 99.56 | 517,693.64 | 0.48% | MR | 1 | ||
| HOLD | 48666KAQ2 | KB HOME 8 3/15/2020 | 470,000.00 | 102.63 | 482,337.50 | 0.45% | B | 1 | ||
| HOLD | 07330NAP0 | BRANCH BANKING & TRUST FRN 1/15/2020 | 475,000.00 | 100.11 | 475,539.39 | 0.44% | B | 1 | ||
| HOLD | 615369AN5 | MOODY'S CORPORATION 3.25 6/7/2021 | 450,000.00 | 101.67 | 457,501.03 | 0.43% | B | 1 | ||
| HOLD | 14314EAC5 | CARMX 2016-3 A3 1.39 5/17/2021 | 437,889.28 | 99.95 | 437,671.56 | 0.41% | MR | 1 | ||
| HOLD | 929160AU3 | VULCAN MATERIALS CO FRN 6/15/2020 | 430,000.00 | 100.04 | 430,190.48 | 0.40% | B | 1 | ||
| HOLD | 67059TAD7 | NUSTAR LOGISTICS LP 6.75 2/1/2021 | 400,000.00 | 104.88 | 419,500.00 | 0.39% | B | 1 | ||
| HOLD | 07330NAS4 | BRANCH BANKING & TRUST FRN 6/1/2020 | 400,000.00 | 100.05 | 400,183.94 | 0.37% | B | 1 | ||
| HOLD | 98956PAP7 | ZIMMER BIOMET HOLDINGS FRN 3/19/2021 | 390,000.00 | 100.00 | 390,008.99 | 0.36% | B | 1 | ||
| HOLD | 3137G0TG4 | STACR 2018-DNA1 M1 FRN 7/25/2030 | 374,861.50 | 99.88 | 374,416.61 | 0.35% | FH | 1 | ||
| HOLD | 43814TAC6 | HAROT 2017-1 A3 1.72 7/21/2021 | 303,330.71 | 99.86 | 302,904.29 | 0.28% | MR | 1 | ||
| HOLD | 43814RAC0 | HAROT 2016-4 A3 1.21 12/18/2020 | 288,232.47 | 99.75 | 287,508.92 | 0.27% | MR | 1 | ||
| HOLD | 126802DD6 | CABMT 2015-1A A2 FRN 3/15/2023 | 285,000.00 | 100.21 | 285,602.55 | 0.27% | MR | 1 | ||
| HOLD | 87165BAE3 | SYNCHRONY FINANCIAL 2.7 2/3/2020 | 283,000.00 | 100.09 | 283,241.80 | 0.26% | B | 1 | ||
| HOLD | 65478WAD7 | NAROT 2016-C A3 1.18 1/15/2021 | 278,319.25 | 99.80 | 277,766.51 | 0.26% | MR | 1 | ||
| HOLD | 256746AE8 | DOLLAR TREE INC FRN 4/17/2020 | 270,000.00 | 100.01 | 270,037.88 | 0.25% | B | 1 | ||
| HOLD | 05369AAE1 | AVIATION CAPITAL GROUP FRN 7/30/2021 | 270,000.00 | 99.83 | 269,536.89 | 0.25% | B | 1 | ||
| HOLD | 404280BQ1 | HSBC HOLDINGS PLC FRN 5/18/2021 | 260,000.00 | 100.10 | 260,256.66 | 0.24% | FB | 1 | ||
| HOLD | 444859BC5 | HUMANA INC 2.625 10/1/2019 | 260,000.00 | 100.00 | 260,006.71 | 0.24% | B | 1 | ||
| HOLD | 07274NAC7 | BAYER US FINANCE II LLC FRN 6/25/2021 | 260,000.00 | 99.91 | 259,765.95 | 0.24% | FB | 1 | ||
| HOLD | 30711XX25 | CAS 2018-C05 1M1 FRN 1/25/2031 | 234,896.00 | 100.07 | 235,063.79 | 0.22% | FM | 1 | ||
| HOLD | 718546AS3 | PHILLIPS 66 FRN 2/26/2021 | 200,000.00 | 100.00 | 200,007.25 | 0.19% | B | 1 | ||
| HOLD | 98162FAC8 | WOART 2016-A A3 1.77 9/15/2021 | 194,636.62 | 99.90 | 194,433.18 | 0.18% | MR | 1 | ||
| HOLD | 89231LAD9 | TAOT 2016-D A3 1.23 10/15/2020 | 160,739.48 | 99.90 | 160,574.27 | 0.15% | MR | 1 | ||
| HOLD | 30161MAP8 | EXELON GENERATION CO LLC 2.95 1/15/2020 | 153,000.00 | 100.15 | 153,222.46 | 0.14% | B | 1 | ||
| HOLD | 89114QBV9 | TORONTO-DOMINION BANK FRN 10/24/2019 | 150,000.00 | 100.03 | 150,045.17 | 0.14% | FB | 1 | ||
| HOLD | 30711XNS9 | CAS 2017-C05 1M1 FRN 1/25/2030 | 96,361.89 | 99.99 | 96,351.21 | 0.09% | FM | 1 | ||
| HOLD | 88161DAA9 | TESLA 2018-A A 2.32 12/20/2019 | 31,889.78 | 100.00 | 31,889.78 | 0.03% | MR | 1 | ||
| HOLD | 31398VEH5 | FHR 3645 ED 2.5 12/15/2020 | 23,163.10 | 99.74 | 23,103.71 | 0.02% | FH | 1 | ||
| HOLD | SECLEND | SECLEND | 0.01 | 100.00 | 0.01 | 0.00% | RP | 1 | ||
| HOLD | FVZ9 | US 5YR NOTE (CBT) Dec19 | (53.00) | 118.73 | - | 0.00% | FT | 1 | ||
| HOLD | TUZ9 | US 2YR NOTE (CBT) Dec19 | 63.00 | 107.61 | - | 0.00% | FT | 1 | ||
| HOLD | X9USDJPMR | JP MORGAN USD GOVT MONEY MARKET INSTL | 2,490,221.37 | 1.00 | 2,490,221.37 | 2.32% | MM | 0 | ||
| HOLD | CASH | -152,138.31 | 100 | -152,138.31 | -0.14% | CA |
FUND
Characteristics
As of 07/31/2019
Composite Quality Ratings provided by Sage Advisory Ltd Co., for the HOLD ETF reflect the underlying holdings of the ETF. Moody’s ratings of the underlying securities are used to calculate the Composite Quality. When Moody’s ratings are unavailable the S&P ratings of the underline securities are used. When neither Moody’s or S&P ratings are available the security is placed into a not rated category.
The credit ratings are published rankings based on detailed financial analyses by a credit bureau specifically as it relates the bond issue’s ability to meet debt obligations. The highest rating is AAA, and the lowest is D. Securities with credit ratings of BBB and above are considered investment grade.
FUND
Fixed Income Attributes
As of 07/31/2019
| _ | _ |
|---|---|
| Duration | 0.56 |
| 30-Day SEC Subsidized Yield | 2.23% |
| 30-Day SEC Unsubsidized Yield | 2.10% |
Past Performance is not indicative of future results. Duration is a measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. Duration is expressed as a number of years. Rising interest rates mean falling bond prices, while declining interest rates mean rising bond prices. 30–Day SEC Yield (Standardized Yield) is an annualized yield that is calculated by dividing the investment income earned by the Fund less expenses over the most recent 30-day period by the current maximum offering price. The Subsidized Yield reflects fee waivers and/or expense reimbursements recorded by the Fund during the period. Without waivers and/or reimbursements, yields would be reduced. The Unsubsidized Yield does not adjust for any fee waivers and/ or expense reimbursements in effect. If the Fund does not incur any fee waivers and/or expense reimbursements during the period, the 30-Day Subsidized Yield and 30-Day Unsubsidized Yield will be identical.
FUND
Documents
FUND
Fees & Expenses
| Management Fee | 0.30% |
| Other Expenses | 0.35% |
| Gross Expense Ratio | 0.65% |
| Fee Waiver and/or Expense Reimbursement | -0.30% |
| Net Expense Ratio | 0.35% |
*The Advisor has contractually agreed to keep net expenses from exceeding 0.35% of the Fund’s average daily net assets for at least one year from the date of the prospectus and for successive one-year periods thereafter unless the agreement is terminated. This agreement is limited to the Fund’s direct operating expenses and, therefore, does not apply to “Acquired Fund Fees and Expenses.”
Last Ten
Fund Distributions
| Ex-Date | Record Date | Pay Date | Cash Div | ST Cap Gain | LT Cap Gain | Return of Capital | Total Distribution (per share) | HOLD | |
|---|---|---|---|---|---|---|---|---|---|
| 12/27/2019 | 12/30/2019 | - | - | - | - | - | |||
| 11/26/2019 | 11/27/2019 | - | - | - | - | - | |||
| 10/28/2019 | 10/29/2019 | - | - | - | - | - | |||
| 09/25/2019 | 09/26/2019 | - | - | - | - | - | |||
| 08/27/2019 | 08/28/2019 | 08/30/2019 | $0.14330 | $0.00 | $0.00 | $0.00 | $0.14330 | ||
| 07/26/2019 | 07/29/2019 | 07/31/2019 | $0.21524 | $0.00 | $0.00 | $0.00 | $0.21524 | ||
| 06/25/2019 | 06/26/2019 | 06/28/2019 | $0.18590 | $0.00 | $0.00 | $0.00 | $0.18590 | ||
| 05/28/2019 | 05/29/2019 | 05/31/2019 | $0.22539 | $0.00 | $0.00 | $0.00 | $0.22539 | ||
| 04/25/2019 | 04/26/2019 | 04/30/2019 | $0.20438 | $0.00 | $0.00 | $0.00 | $0.20438 | ||
| 03/26/2019 | 03/27/2019 | 03/29/2019 | $0.19436 | $0.00 | $0.00 | $0.00 | $0.19436 | ||
| 02/26/2019 | 02/27/2019 | 02/28/2019 | $0.19118 | $0.00 | $0.00 | $0.00 | $0.19118 | ||
| 01/28/2019 | 01/29/2019 | 01/31/2019 | $0.17606 | $0.00 | $0.00 | $0.00 | $0.17606 | ||
| 12/27/2018 | 12/28/2018 | 12/31/2018 | $0.22070 | $0.00 | $0.00 | $0.00 | $0.22070 | ||
| 11/27/2018 | 11/28/2018 | 11/30/2018 | $0.19667 | $0.00 | $0.00 | $0.00 | $0.19667 | ||
| 10/26/2018 | 10/29/2018 | 10/31/2018 | $0.17712 | $0.00 | $0.00 | $0.00 | $0.17712 | ||
| 09/26/2018 | 09/27/2018 | 09/28/2018 | $0.14441 | $0.00 | $0.00 | $0.00 | $0.14441 | ||
| 08/27/2018 | 08/28/2018 | 08/31/2018 | $0.17854 | $0.00 | $0.00 | $0.00 | $0.17854 | ||
| 07/27/2018 | 07/27/2018 | 07/31/2018 | $0.17076 | $0.00 | $0.00 | $0.00 | $0.17076 | ||
| 06/25/2018 | 06/26/2018 | 06/29/2018 | $0.16773 | $0.00 | $0.00 | $0.00 | $0.16773 | ||
| 05/25/2018 | 05/29/2018 | 05/31/2018 | $0.15277 | $0.00 | $0.00 | $0.00 | $0.15277 | ||
| 04/25/2018 | 04/26/2018 | 04/30/2018 | $0.14238 | $0.00 | $0.00 | $0.00 | $0.14238 | ||
| 03/26/2018 | 03/27/2018 | 03/29/2018 | $0.12951 | $0.00 | $0.00 | $0.00 | $0.12951 | ||
| 02/26/2018 | 02/27/2018 | 02/28/2018 | $0.23564 | $0.00 | $0.00 | $0.00 | $0.23564 | ||
| 01/26/2018 | 01/29/2018 | 01/31/2018 | $0.12125 | $0.00 | $0.00 | $0.00 | $0.12125 | ||
| 12/27/2017 | 12/28/2017 | 12/29/2017 | $0.13657 | $0.00 | $0.00 | $0.00 | $0.13657 | ||
| 11/28/2017 | 11/29/2017 | 11/30/2017 | $0.12663 | $0.00 | $0.00 | $0.00 | $0.12663 | ||
| 10/27/2017 | 10/30/2017 | 10/31/2017 | $0.13039 | $0.00 | $0.00 | $0.00 | $0.13039 | ||
| 09/26/2017 | 09/27/2017 | 09/29/2017 | $0.11866 | $0.00 | $0.00 | $0.00 | $0.11866 | ||
| 08/25/2017 | 08/29/2017 | 08/31/2017 | $0.10918 | $0.00 | $0.00 | $0.00 | $0.10918 | ||
| 07/26/2017 | 07/28/2017 | 07/31/2017 | $0.11327 | $0.00 | $0.00 | $0.00 | $0.11327 | ||
| 06/23/2017 | 06/28/2017 | 06/30/2017 | $0.10805 | $0.00 | $0.00 | $0.00 | $0.10805 | ||
| 05/23/2017 | 05/26/2017 | 05/31/2017 | $0.09805 | $0.00 | $0.00 | $0.00 | $0.09805 | ||
| 04/21/2017 | 04/26/2017 | 04/28/2017 | $0.09568 | $0.00 | $0.00 | $0.00 | $0.09568 | ||
| 03/24/2017 | 03/28/2017 | 03/31/2017 | $0.09223 | $0.00 | $0.00 | $0.00 | $0.09223 | ||
| 02/23/2017 | 02/27/2017 | 02/28/2017 | $0.08725 | $0.00 | $0.00 | $0.00 | $0.08725 | ||
| 01/25/2017 | 01/27/2017 | 01/31/2017 | $0.07100 | $0.00 | $0.00 | $0.00 | $0.07100 | ||
| 12/23/2016 | 12/28/2016 | 12/30/2016 | $0.12240 | $0.00 | $0.00 | $0.00 | $0.12240 | ||
| 11/23/2016 | 11/28/2016 | 11/30/2016 | $0.07270 | $0.00 | $0.00 | $0.00 | $0.07270 | ||
| 10/25/2016 | 10/27/2016 | 10/31/2016 | $0.07750 | $0.00 | $0.00 | $0.00 | $0.07750 | ||
| 09/26/2016 | 09/28/2016 | 09/30/2016 | $0.08380 | $0.00 | $0.00 | $0.00 | $0.08380 | ||
| 08/25/2016 | 08/29/2016 | 08/31/2016 | $0.09050 | $0.00 | $0.00 | $0.00 | $0.09050 | ||
| 07/25/2016 | 07/27/2016 | 07/29/2016 | $0.08190 | $0.00 | $0.00 | $0.00 | $0.08190 | ||
| 06/24/2016 | 06/28/2016 | 06/30/2016 | $0.06460 | $0.00 | $0.00 | $0.00 | $0.06460 | ||
| 05/24/2016 | 05/26/2016 | 05/31/2016 | $0.03630 | $0.00 | $0.00 | $0.00 | $0.03630 | ||
| 04/25/2016 | 04/27/2016 | 04/29/2016 | $0.13430 | $0.00 | $0.00 | $0.00 | $0.13430 | ||
| 03/24/2016 | 03/29/2016 | 03/31/2016 | $0.08530 | $0.00 | $0.00 | $0.00 | $0.08530 | ||
| 02/23/2016 | 02/25/2016 | 02/29/2016 | $0.06220 | $0.00 | $0.00 | $0.00 | $0.06220 | ||
| 01/25/2016 | 01/27/2016 | 01/29/2016 | $0.05200 | $0.00 | $0.00 | $0.00 | $0.05200 | ||
| 12/24/2015 | 12/29/2015 | 12/31/2015 | $0.08360 | $0.00 | $0.00 | $0.00 | $0.08360 | ||
| 11/23/2015 | 11/25/2015 | 11/30/2015 | $0.05320 | $0.00 | $0.00 | $0.00 | $0.05320 | ||
| 10/26/2015 | 10/28/2015 | 10/30/2015 | $0.05950 | $0.00 | $0.00 | $0.00 | $0.05950 | ||
| 09/24/2015 | 09/28/2015 | 09/30/2015 | $0.05130 | $0.00 | $0.00 | $0.00 | $0.05130 | ||
| 08/25/2015 | 08/27/2015 | 08/31/2015 | $0.04390 | $0.00 | $0.00 | $0.00 | $0.04390 | ||
| 07/24/2015 | 07/28/2015 | 07/30/2015 | $0.03880 | $0.00 | $0.00 | $0.00 | $0 0388 | ||
| 06/24/2015 | 06/26/2015 | 06/30/2015 | $0.03690 | $0.00 | $0.00 | $0.00 | $0.03690 | ||
| 05/22/2015 | 05/27/2015 | 05/29/2015 | $0.01720 | $0.00 | $0.00 | $0.00 | $0.01720 | ||
| 04/24/2015 | 04/28/2015 | 04/30/2015 | $0.00000 | $0.00 | $0.00 | $0.00 | $0.00000 | ||
| 03/25/2015 | 03/27/2015 | 03/31/2015 | $0.00000 | $0.00 | $0.00 | $0.00 | $0.00000 | ||
| 02/23/2015 | 02/25/2015 | 02/27/2015 | $0.00000 | $0.00 | $0.00 | $0.00 | $0.00000 | ||
| 01/26/2015 | 01/28/2015 | 01/30/2015 | $0.00000 | $0.00 | $0.00 | $0.00 | $0.00000 | ||
| 12/24/2014 | 12/29/2014 | 12/31/2014 | $0.15000 | $0.00 | $0.00 | $0.00 | $0.15000 | ||
| 11/21/2014 | 11/25/2014 | 11/28/2014 | $0.01800 | $0.00 | $0.00 | $0.00 | $0.01800 | ||
| 10/27/2014 | 10/29/2014 | 10/31/2014 | $0.01300 | $0.00 | $0.00 | $0.00 | $0.01300 | ||
| 09/24/2014 | 09/26/2014 | 09/30/2014 | $0.00000 | $0.00 | $0.00 | $0.00 | $0.00000 | ||
| 08/25/2014 | 08/27/2014 | 08/29/2014 | $0.07300 | $0.00 | $0.00 | $0.00 | $0.07300 | ||
| 07/25/2014 | 07/29/2014 | 07/31/2014 | $0.08900 | $0.00 | $0.00 | $0.00 | $0.08900 | ||
| 06/24/2014 | 06/26/2014 | 06/30/2014 | $0.09200 | $0.00 | $0.00 | $0.00 | $0.09200 | ||
| 05/23/2014 | 05/28/2014 | 05/30/2014 | $0.08600 | $0.00 | $0.00 | $0.00 | $0.08600 | ||
| 04/24/2014 | 04/28/2014 | 04/30/2014 | $0.07100 | $0.00 | $0.00 | $0.00 | $0.07100 | ||
| 03/25/2014 | 03/27/2014 | 03/31/2014 | $0.05600 | $0.00 | $0.00 | $0.00 | $0.05600 | ||
| 02/26/2014 | 02/26/2014 | 02/28/2014 | $0.02000 | $0.00 | $0.00 | $0.00 | $0.02000 | ||
| 01/27/2014 | 01/29/2014 | 01/31/2014 | $0.00000 | $0.00 | $0.00 | $0.00 | $0.00000 |
- Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by visiting the Fund’s website at www.AdvisorShares.com. Please read the prospectus carefully before you invest. Foreside Fund Services, LLC, Distributor.
- There is no guarantee that the Fund will achieve its investment objective. Diversification and sector asset allocation do not guarantee a profit, nor do they eliminate the risk of loss of principal. An investment in the Fund is subject to risk, including the possible loss of principal amount invested. The Fund’s investment in fixed income securities will change in value in response to interest rate changes and other factors, such as the perception of the issuer’s creditworthiness. Fixed income securities with longer maturities are subject to greater price shifts as a result of interest rate changes than fixed income securities with shorter maturities. The Fund’s investments in high-yield securities or “junk bonds” are subject to a greater risk of loss of income and principal than higher grade debt securities. In addition the Fund is subject to leveraging risk which tends to exaggerate the effect of any increase or decrease in the value of the portfolio securities. The Fund is also subject to liquidity risk, issuer risk, foreign currency and investment risk, prepayment risk and trading risk. See prospectus for details regarding specific risks.