(HOLD) SAGE CORE RESERVES ETF

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>
  1. 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.
  2. 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.
  3. Flexible Mandate – The portfolio manager maintains the ability to add diversification, through flexible credit quality and expanded security categories, to manage risk and return.
  4. 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.
  5. 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.

FP Content
Are you a Financial Professional?
By selecting "yes," you certify you are a financial professional.

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

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.