HOLD - AdvisorShares North Square McKee Core Reserves ETF

Consider Moving to Greener Pastures

Seek to give your cash more earning potential with HOLD

Symbol Exchange Inception Date CUSIP Indicative NAV
HOLD NYSE Arca 1/14/2014 00768Y651 HOLD.NV
<strong>What does HOLD invest in?</strong>
The AdvisorShares North Square McKee Core Reserves ETF (NYSE Arca: HOLD) seeks to maximize income while preserving capital. To achieve its investment objective, HOLD invests in a broad range of short-term, U.S. dollar-denominated fixed income securities, including investment grade corporate debt, mortgage- or asset-backed, and government securities. Actively managed by CS McKee, HOLD follows a straight-forward investment strategy focused primarily on liquidity, quality and diversification, while seeking value primarily through security selection, sector allocation and active risk management. HOLD’s goal is to provide higher than Bloomberg 1–3 Month U.S. Treasury Bill Index yields while maintaining investment grade credit quality and liquidity in the portfolio.
<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 does 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 CS McKee has provided to their institutional clients for over 45 years, without needing to meet their minimum investment, along with the potential added benefits of the ETF structure, which include intraday trading and transparency.
  • Lower Potential Volatility – HOLD may offer added diversification with a risk management process focused on minimizing volatility and maintaining liquidity in all environments.
<strong>Where can HOLD fit in a portfolio?</strong>
HOLD may appeal to investors looking for greater income and return potential than money market funds or who are seeking an allocation to short-term fixed income.
<strong>Key Attributes</strong>
  • Low Duration – HOLD’s low average duration, targeted to less than one year, may make it less sensitive to interest rate changes than other bond ETFs with higher average durations.
  • Active 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 – HOLD’s sub-advisor, CS McKee, has been providing fixed income solutions to the institutional marketplace since 1972. HOLD’s portfolio management team has worked together for over 20 years and have a combined 97 years in the investment industry.
  • High Quality Liquid Portfolio – HOLD’s portfolio managers seek to deliver consistent risk-adjusted performance greater than the Bloomberg Barclays 1–3 Month U.S. Treasury Bill Index while maintaining investment grade credit quality and liquidity in the portfolio.
<strong>About the Portfolio Manager</strong>

Brian S. Allen, CFA | Senior Vice President and Portfolio Manager, Fixed Income
Mr. Allen is primarily responsible for investment decisions related to the mortgage-backed and asset-backed sectors. He also provides input to the sector allocation, duration and yield-curve decisions. Before joining C.S. McKee, Mr. Allen managed fixed income funds for institutional clients at Patterson Capital Corporation in Los Angeles. There he also directed research on mortgage-backed, asset- backed and other fixed income securities. He has also served as an equity and fixed income manager at C&S/Sovran Trust Company.

Bryan R. Johanson, CFA | Senior Vice President and Portfolio Manager, Fixed Income
Mr. Johanson’s primary responsibility is security selection with the corporate sector. He also provides input to the sector allocation, duration and yield-curve decisions. Mr. Johanson has been in the investment business since 1988 and with C.S. McKee since 1994. Prior to joining the firm, he managed mortgage-backed and asset-backed securities with a wholesale bank.

Jack P. White, CFA |Senior Vice President and Portfolio Manager, Fixed Income
Mr. White is responsible for investment decisions related to the government and structured securities. He also provides input into the sector allocation, duration and yield curve decisions. Before joining C.S. McKee, he was a consultant providing primary and secondary market research and analysis to business clients.

Andrew Faderewski, CFA | Vice President and Portfolio Manager, Fixed Income
Mr. Faderewski is currently responsible for macroeconomic and quantitative research, corporate sector trading, and TIPS analysis. He also shares the responsibility of authoring the firm’s periodic outlooks. Since joining C.S. McKee, Mr. Faderewski has served as a portfolio accountant and fixed income research analyst.

 

HOLD Overview from Brian Allen

 

Get an introduction to the HOLD ETF directly from the portfolio manager, Brian Allen.

 

HOLD Overview from Brian Allen

 

Get an introduction to the HOLD ETF directly from the portfolio manager, Brian Allen.

 

Fund

Price History

Fund Data

12/2/2022
NAV $97.33
Change $0.03
Shares Outstanding 325,000
Assets Under Management $31,631,812.39

 

 

 

 

Market Data

12/2/2022
Closing Price $97.28
Close Change $0.06
Volume 2

Regulatory Data

12/2/2022
Premium Discount $-0.050
30-Day Median bid-ask Spread 0.06
Premium/Discount Historical Data | NAV Historical Data | Daily Premium/Discount 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.

FUND

Characteristics

As of 8/31/2022

HOLD Sector Allocation

Source: Bloomberg & AdvisorShares

FUND

Fixed Income Attributes

As of 08/31/2022

Date Description HOLD
08/31/2022 Duration 0.61 years
30-Day SEC Subsidized Yield 2.06%
30-Day SEC Unsubsidized Yield 1.68%

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

Performance

As of 9/30/2022

  NAV Market Price Return Barclays Capital Aggregate Bond Index
1 Month -0.04 -0.03 0.22
3 Months -0.09 -0.04 0.61
YTD -0.52 -0.49 0.85
1 Year -0.54 -0.53 0.86
3 Years 0.15 0.16 0.56
5 Years 1.00 1.00 1.12
10 Years - - 0.66
Since Inception (6/20/2011, Annualized) 0.85 0.85 0.75

As of 9/30/2022

  NAV Market Price Return Barclays Capital Aggregate Bond Index
1 Month -0.13 -0.11 0.20
3 Months 0.17 0.27 0.47
YTD -0.48 -0.46 0.63
1 Year -0.57 -0.55 0.64
3 Years 0.25 0.26 0.55
5 Years 1.03 1.03 1.10
10 Years - - 0.64
Since Inception (6/20/2011, Annualized) 0.86 0.86 0.73

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.

*On November 1, 2021, the AdvisorShares Sage Core Reserves ETF (the “Predecessor Fund”) was renamed the AdvisorShares North Square McKee Core Reserves ETF. Performance prior to November 1, 2021 reflects the Fund’s performance prior to the change in manager and may not be indicative of the Fund’s performance under the new manager.

Fund

Holdings

As of

Excel    CSV

Date Account Symbol Stock Ticker Security Number Security Description Shares/Par (Full) Price (Base) Traded Market Value (Base) Portfolio Weight % Asset Group
12/02/2022 HOLD 3130ATGX9 FEDERAL HOME LOAN BANK 4.3 9/26/2023 1,500,000.00 99.62 1,494,337.86 4.72% G
3133ENQ52 FEDERAL FARM CREDIT BANK 4.89 10/3/2025 1,050,000.00 99.82 1,048,124.78 3.31% G
06051GHC6 BANK OF AMERICA CORP 3.004 12/20/2023 1,000,000.00 99.91 999,112.03 3.16% B
3134GX3A0 FREDDIE MAC 4.75 9/30/2025 1,000,000.00 99.69 996,895.54 3.15% G
04685A3H2 ATHENE GLOBAL FUNDING FRN 1/7/2025 825,000.00 97.1 801,054.82 2.53% B
3133ENC99 FEDERAL FARM CREDIT BANK 3.94 7/27/2026 750,000.00 97.97 734,763.33 2.32% G
3130ASN88 FEDERAL HOME LOAN BANK 3.64 7/28/2025 750,000.00 97.34 730,051.23 2.31% G
83406QAA6 SCLP 2022-1S A 6.21 4/15/2031 700,000.00 99.97 699,775.23 2.21% MR
92348TAC8 VZOT 2020-A B 1.98 7/22/2024 700,000.00 98.77 691,373.20 2.19% MR
91282CFK2 US TREASURY N/B 3.5 9/15/2025 700,000.00 98.65 690,539.07 2.18% TN
12663JAB7 CNH 2022-B A2 3.94 12/15/2025 650,000.00 98.62 641,009.33 2.03% MR
80286NAF3 SDART 2021-1 C 0.75 2/17/2026 621,933.61 98.41 612,045.05 1.93% MR
3137BRVA0 FHR 4614 PA 3 12/15/2043 608,581.22 98.59 600,002.11 1.90% FH
38141GZF4 GOLDMAN SACHS GROUP INC FRN 12/6/2023 600,000.00 100 600,000.00 1.90% B
03066RAC9 AMCAR 2021-2 A3 0.34 12/18/2026 600,000.00 96.89 581,354.82 1.84% MR
96042QAJ9 WLAKE 2020-3A C 1.24 11/17/2025 560,000.00 97.03 543,343.47 1.72% MR
15189WAN0 CENTERPOINT ENERGY RES FRN 3/2/2023 523,000.00 99.92 522,575.04 1.65% B
448978AB2 HALST 2022-C A2A 4.34 1/15/2025 525,000.00 99.11 520,348.87 1.64% MR
91282CFG1 US TREASURY N/B 3.25 8/31/2024 530,000.00 98.07 519,793.36 1.64% TN
68784HAB7 OSCAR 2022-1A A2 1.6 3/10/2025 526,276.80 98.57 518,746.82 1.64% MR
494550BM7 KINDER MORGAN ENER PART 3.45 2/15/2023 509,000.00 99.68 507,361.38 1.60% B
3133EN3L2 FEDERAL FARM CREDIT BANK 5.06 12/5/2024 500,000.00 100.08 500,417.03 1.58% G
14318UAB7 CARMX 2022-4 A2A 5.34 12/15/2025 500,000.00 99.98 499,875.45 1.58% MR
3133EN2X7 FEDERAL FARM CREDIT BANK 5.04 2/23/2024 500,000.00 99.94 499,711.16 1.58% G
025816CU1 AMERICAN EXPRESS CO FRN 5/3/2024 495,000.00 99.88 494,426.20 1.56% B
694308KA4 PACIFIC GAS & ELECTRIC 3.25 2/16/2024 500,000.00 97.41 487,063.90 1.54% B
80286EAC0 SDART 2022-1 A3 1.94 11/17/2025 490,000.00 98.1 480,684.56 1.52% MR
842434CV2 SOUTHERN CALIF GAS CO FRN 9/14/2023 466,000.00 99.54 463,853.01 1.47% B
3130AT3L9 FEDERAL HOME LOAN BANK 3.7 3/15/2024 455,000.00 98.96 450,257.57 1.42% G
39154TBP2 GALC 2021-2 A2 0.38 3/15/2024 437,092.19 98.09 428,738.88 1.36% MR
9128284X5 US TREASURY N/B 2.75 8/31/2023 425,000.00 98.57 418,938.83 1.32% TN
03066JAC7 AMCAR 2021-3 A3 0.76 8/18/2026 400,000.00 94.73 378,932.32 1.20% MR
55903VAB9 WARNERMEDIA HOLDINGS INC 3.528 3/15/2024 375,000.00 96.91 363,429.11 1.15% B
36263XAA1 GCAR 2022-1A A 1.98 8/15/2025 364,987.51 98.4 359,156.87 1.14% MR
3137FLAX2 FHR 4870 EG 3 6/15/2046 373,179.12 95.78 357,420.85 1.13% FH
29374EAB2 EFF 2021-1 A2 0.44 12/21/2026 369,601.19 96.46 356,514.13 1.13% MR
02530QAD9 ACAR 2020-4 D 1.77 12/14/2026 355,000.00 95.6 339,390.01 1.07% MR
747262AK9 QVC INC 4.375 3/15/2023 336,000.00 99.07 332,869.34 1.05% B
89238FAB9 TAOT 2022-B A2A 2.35 1/15/2025 335,076.66 98.65 330,544.35 1.04% MR
3134GXBL7 FREDDIE MAC 0.3 11/16/2023 341,000.00 95.84 326,805.06 1.03% G
3133ENR77 FEDERAL FARM CREDIT BANK 4.92 1/12/2026 327,000.00 99.89 326,641.73 1.03% G
279158AC3 ECOPETROL SA 5.875 9/18/2023 328,000.00 99.49 326,325.56 1.03% FB
00928QAR2 AIRCASTLE LTD 4.4 9/25/2023 325,000.00 99.02 321,825.93 1.02% B
3137BM7B6 FHMS K051 A1 2.887 4/25/2025 329,810.13 97.15 320,416.71 1.01% FH
36263DAA5 GCAR 2021-4A A 0.84 7/15/2025 319,814.76 98.49 314,977.63 1.00% MR
3136AXJT3 FNR 2017-49 JA 4 7/25/2053 317,087.38 98 310,742.18 0.98% FM
33845VAA9 FCAT 2022-1 A 1.79 10/15/2026 319,006.98 96.25 307,028.94 0.97% MR
3137B4WB8 FHMS K033 A2 FRN 7/25/2023 300,000.00 98.83 296,484.99 0.94% FH
3137B4WA0 FHMS K033 A1 2.871 2/25/2023 297,837.38 99.45 296,211.28 0.94% FH
47800AAB6 JDOT 2022-B A2 3.73 6/16/2025 285,000.00 98.77 281,485.41 0.89% MR
33845AAA5 FCAT 2021-4 A 0.81 7/17/2026 279,660.15 96.81 270,726.80 0.86% MR
02529NAG2 ACAR 2019-3 D 2.89 9/12/2025 269,254.17 99.33 267,438.45 0.85% MR
3136ALD81 FNR 2014-85 LB 3 2/25/2033 269,603.46 98.35 265,158.65 0.84% FM
68269LAA4 OMFIT 2020-1A A 3.84 5/14/2032 258,859.94 99.12 256,576.23 0.81% MR
36265QAB2 GMCAR 2022-4 A2A 4.6 11/17/2025 258,000.00 99.41 256,466.76 0.81% MR
3130ATRL3 FEDERAL HOME LOAN BANK 4.75 10/24/2023 245,000.00 99.97 244,919.76 0.77% G
48128LRZ4 JP MORGAN CHASE BANK NA FRN 12/4/2023 245,000.00 98.77 241,988.95 0.76% CD
31568EAA6 FHF 2022-2A A 6.14 12/15/2027 242,425.12 99.03 240,084.58 0.76% MR
12598NAA0 CIGAR 2021-1A A 0.69 4/14/2025 213,765.85 98.09 209,679.54 0.66% MR
32057KAA8 FIAOT 2022-1A A 2.03 1/15/2027 215,419.42 96.78 208,492.33 0.66% MR
3137F4R46 FHR 4776 QM 3 6/15/2045 204,175.66 97.55 199,163.47 0.63% FH
36259PAG1 GMALT 2020-2 C 2.56 7/22/2024 190,000.00 99.63 189,288.89 0.60% MR
36263LAC3 GCAR 2021-3A B 0.78 11/17/2025 195,000.00 96.79 188,734.22 0.60% MR
3137BF5B3 FHR 4409 MA 3 1/15/2054 193,266.79 97.06 187,589.81 0.59% FH
96043JAC9 WLAKE 2021-3A A2 0.57 9/16/2024 187,060.41 99.15 185,469.74 0.59% MR
96042RAB4 WLAKE 2021-2A A2A 0.32 4/15/2025 178,080.41 98.76 175,878.21 0.56% MR
80285WAF4 SDART 2020-3 C 1.12 1/15/2026 171,022.33 98.96 169,238.84 0.53% MR
345329AB2 FORDL 2021-B A2 0.24 4/15/2024 168,686.87 99.49 167,832.56 0.53% MR
14687HAA1 CRVNA 2021-N4 A1 0.83 9/11/2028 164,223.32 97.13 159,507.53 0.50% MR
3130ATC47 FEDERAL HOME LOAN BANK 3.72 10/10/2023 150,000.00 99.37 149,051.43 0.47% G
3130ARNT4 FEDERAL HOME LOAN BANK STEP-CPN 4/29/2027 150,000.00 97.54 146,310.21 0.46% G
14686GAA4 CRVNA 2022-N1 A1 2.31 12/11/2028 142,908.36 96.94 138,533.15 0.44% MR
31394AWL6 FNR 2004-60 FW FRN 4/25/2034 128,687.31 99.67 128,267.56 0.41% FM
43815EAB0 HAROT 2021-3 A2 0.2 2/20/2024 118,517.61 99.33 117,723.29 0.37% MR
90944DAA9 UACST 2022-1 A 1.11 7/10/2024 117,805.90 99.45 117,152.49 0.37% MR
670837AC7 OGE ENERGY CORP 0.703 5/26/2023 113,000.00 97.95 110,679.76 0.35% B
042859AA6 ARRW 2019-1 A1 FRN 1/25/2049 105,859.22 92.54 97,959.75 0.31% MR
88161FAB2 TESLA 2021-A A2 0.36 3/20/2025 94,270.31 98.95 93,276.55 0.29% MR
36263LAA7 GCAR 2021-3A A 0.42 1/15/2025 39,967.58 99.34 39,703.76 0.13% MR
20825GAA3 CONN 2021-A A 1.05 5/15/2026 32,373.89 99.78 32,303.05 0.10% MR
3137BXDL3 FHR 4673 LB 2.5 4/15/2044 27,431.22 98.52 27,025.74 0.09% FH
380149AB0 GMCAR 2021-2 A2 0.27 6/17/2024 6,294.33 99.83 6,283.50 0.02% MR
X9USDJPMR JP MORGAN USD GOVT MONEY MARKET INSTL 1,577,510.42 1 1,577,510.42 4.99% MM
CASH -1,255,402.72 100 -1,255,402.72 -3.97% CA

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

Fees & Expenses

Management Fee 0.30%
Other Expenses 0.35%
Fee Waiver and/or Expense Reimbursement* -0.30%
Total Annual Operating Expenses After Fee Waiver/Expense Reimbursement 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. For more information, please read the full prospectus.

Last Ten

Fund Distributions

      • 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.
      •    
      • Diversification does not guarantee profits or protect against loss.
      •    
      • Fixed Income Securities Risk. The market value of fixed income investments in which the Fund may invest may change in response to interest rate changes and other factors. During periods of falling interest rates, the value of outstanding fixed income securities generally rise. Conversely, during periods of rising interest rates, the value of fixed income securities generally decline. Mortgage-Backed and Asset-Backed Securities Risk. The Fund could lose money if the issuer or guarantor of a debt instrument in which the Fund invests becomes unwilling or unable to make timely principal and/or interest payments, or to otherwise meet its obligations.
      •      
      • The impairment of the value of collateral underlying a mortgage-backed or asset-backed security (for example, due to non-payment of loans) may result in a reduction in the value of such security. In addition, early payoffs in the loans may result in the Fund receiving less income than originally anticipated.   
      •      
      • Definitions   
      •      
      • The Bloomberg US Treasury Bills 1-3 Month Index is designed to measure the performance of public obligations of the U.S. Treasury that have a remaining maturity of greater than or equal to 1 month and less than 3 months. The Index includes all publicly issued zero coupon U.S. Treasury Bills that have a remaining maturity of less than 3 months and at least 1 month, are rated investment grade, and have $300 million or more of outstanding face value. 
      •  
      • Duration  is a measure of the sensitivity of the price of a bond or other debt instrument to a change in interest rates. Lower duration indicates lower sensitivity. 
      •    
      • Liquidity refers to the ease with which an asset, or security, can be converted into ready cash without affecting its market price.     
      •    
      • Investment grade debt are considered securities rated Baa or higher by Moody’s Investors Service, Inc., or equivalently rated by Standard & Poor’s Ratings Services or Fitch, Inc., or, if unrated, determined by the Sub-Advisor to be of comparable quality. 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 C.    
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