NAV as of 12/1/2022
$97.30
1 Day NAV Change as of 12/1/2022
$0.09
| Symbol | Exchange | Inception Date | CUSIP | Indicative NAV |
|---|---|---|---|---|
| HOLD | NYSE Arca | 1/14/2014 | 00768Y651 | HOLD.NV |
<strong>What does HOLD invest in?</strong>
<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>
<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
12/1/2022| NAV | $97.30 |
| Change | $0.09 |
| Shares Outstanding | 325,000 |
| Assets Under Management | $31,623,560.2 |
Market Data
12/1/2022| Closing Price | $97.22 |
| Close Change | $-0.03 |
| Volume | 8 |
Regulatory Data
12/1/2022| Premium Discount | $-0.070 |
| 30-Day Median bid-ask Spread | 0.06 |
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.
| Date | Account Symbol | Stock Ticker | Security Number | Security Description | Shares/Par (Full) | Price (Base) | Traded Market Value (Base) | Portfolio Weight % | Asset Group |
|---|---|---|---|---|---|---|---|---|---|
| 12/01/2022 | HOLD | 3130ATGX9 | FEDERAL HOME LOAN BANK 4.3 9/26/2023 | 1,500,000.00 | 99.62 | 1,494,316.52 | 4.72% | G | |
| 3133ENQ52 | FEDERAL FARM CREDIT BANK 4.89 10/3/2025 | 1,050,000.00 | 99.81 | 1,047,957.76 | 3.31% | G | |||
| 06051GHC6 | BANK OF AMERICA CORP 3.004 12/20/2023 | 1,000,000.00 | 99.9 | 998,996.80 | 3.16% | B | |||
| 3134GX3A0 | FREDDIE MAC 4.75 9/30/2025 | 1,000,000.00 | 99.67 | 996,686.32 | 3.15% | G | |||
| 04685A3H2 | ATHENE GLOBAL FUNDING FRN 1/7/2025 | 825,000.00 | 97.09 | 801,025.63 | 2.53% | B | |||
| 3133ENC99 | FEDERAL FARM CREDIT BANK 3.94 7/27/2026 | 750,000.00 | 97.95 | 734,627.67 | 2.32% | G | |||
| 3130ASN88 | FEDERAL HOME LOAN BANK 3.64 7/28/2025 | 750,000.00 | 97.31 | 729,852.89 | 2.31% | G | |||
| 83406QAA6 | SCLP 2022-1S A 6.21 4/15/2031 | 700,000.00 | 99.98 | 699,837.67 | 2.21% | MR | |||
| 92348TAC8 | VZOT 2020-A B 1.98 7/22/2024 | 700,000.00 | 98.76 | 691,334.14 | 2.19% | MR | |||
| 91282CFK2 | US TREASURY N/B 3.5 9/15/2025 | 700,000.00 | 98.68 | 690,757.82 | 2.18% | TN | |||
| 12663JAB7 | CNH 2022-B A2 3.94 12/15/2025 | 650,000.00 | 98.63 | 641,086.23 | 2.03% | MR | |||
| 80286NAF3 | SDART 2021-1 C 0.75 2/17/2026 | 621,933.61 | 98.4 | 611,979.69 | 1.93% | MR | |||
| 38141GZF4 | GOLDMAN SACHS GROUP INC FRN 12/6/2023 | 600,000.00 | 100 | 599,994.05 | 1.90% | B | |||
| 3137BRVA0 | FHR 4614 PA 3 12/15/2043 | 608,581.22 | 98.59 | 599,992.37 | 1.90% | FH | |||
| 03066RAC9 | AMCAR 2021-2 A3 0.34 12/18/2026 | 600,000.00 | 96.9 | 581,405.82 | 1.84% | MR | |||
| 96042QAJ9 | WLAKE 2020-3A C 1.24 11/17/2025 | 560,000.00 | 97.02 | 543,304.94 | 1.72% | MR | |||
| 15189WAN0 | CENTERPOINT ENERGY RES FRN 3/2/2023 | 523,000.00 | 99.92 | 522,572.71 | 1.65% | B | |||
| 448978AB2 | HALST 2022-C A2A 4.34 1/15/2025 | 525,000.00 | 99.13 | 520,429.46 | 1.65% | MR | |||
| 91282CFG1 | US TREASURY N/B 3.25 8/31/2024 | 530,000.00 | 98.13 | 520,083.20 | 1.64% | TN | |||
| 68784HAB7 | OSCAR 2022-1A A2 1.6 3/10/2025 | 526,276.80 | 98.56 | 518,687.68 | 1.64% | MR | |||
| 494550BM7 | KINDER MORGAN ENER PART 3.45 2/15/2023 | 509,000.00 | 99.67 | 507,307.87 | 1.60% | B | |||
| 3133EN3L2 | FEDERAL FARM CREDIT BANK 5.06 12/5/2024 | 500,000.00 | 100.06 | 500,280.48 | 1.58% | G | |||
| 3133EN2X7 | FEDERAL FARM CREDIT BANK 5.04 2/23/2024 | 500,000.00 | 100.01 | 500,070.64 | 1.58% | G | |||
| 14318UAB7 | CARMX 2022-4 A2A 5.34 12/15/2025 | 500,000.00 | 100 | 500,001.40 | 1.58% | MR | |||
| 025816CU1 | AMERICAN EXPRESS CO FRN 5/3/2024 | 495,000.00 | 99.67 | 493,385.93 | 1.56% | B | |||
| 694308KA4 | PACIFIC GAS & ELECTRIC 3.25 2/16/2024 | 500,000.00 | 97.12 | 485,615.32 | 1.54% | B | |||
| 80286EAC0 | SDART 2022-1 A3 1.94 11/17/2025 | 490,000.00 | 98.1 | 480,679.71 | 1.52% | MR | |||
| 842434CV2 | SOUTHERN CALIF GAS CO FRN 9/14/2023 | 466,000.00 | 99.77 | 464,919.32 | 1.47% | B | |||
| 3130AT3L9 | FEDERAL HOME LOAN BANK 3.7 3/15/2024 | 455,000.00 | 98.95 | 450,214.68 | 1.42% | G | |||
| 39154TBP2 | GALC 2021-2 A2 0.38 3/15/2024 | 437,092.19 | 98.08 | 428,694.21 | 1.36% | MR | |||
| 9128284X5 | US TREASURY N/B 2.75 8/31/2023 | 425,000.00 | 98.61 | 419,071.82 | 1.32% | TN | |||
| 03066JAC7 | AMCAR 2021-3 A3 0.76 8/18/2026 | 400,000.00 | 94.76 | 379,036.08 | 1.20% | MR | |||
| 55903VAB9 | WARNERMEDIA HOLDINGS INC 3.528 3/15/2024 | 375,000.00 | 96.96 | 363,598.22 | 1.15% | B | |||
| 36263XAA1 | GCAR 2022-1A A 1.98 8/15/2025 | 364,987.51 | 98.4 | 359,133.69 | 1.14% | MR | |||
| 3137FLAX2 | FHR 4870 EG 3 6/15/2046 | 373,179.12 | 95.81 | 357,552.47 | 1.13% | FH | |||
| 29374EAB2 | EFF 2021-1 A2 0.44 12/21/2026 | 369,601.19 | 96.46 | 356,499.53 | 1.13% | MR | |||
| 02530QAD9 | ACAR 2020-4 D 1.77 12/14/2026 | 355,000.00 | 95.62 | 339,436.34 | 1.07% | MR | |||
| 747262AK9 | QVC INC 4.375 3/15/2023 | 336,000.00 | 99.14 | 333,120.89 | 1.05% | B | |||
| 89238FAB9 | TAOT 2022-B A2A 2.35 1/15/2025 | 335,076.66 | 98.64 | 330,527.22 | 1.04% | MR | |||
| 279158AC3 | ECOPETROL SA 5.875 9/18/2023 | 328,000.00 | 99.67 | 326,915.96 | 1.03% | FB | |||
| 3134GXBL7 | FREDDIE MAC 0.3 11/16/2023 | 341,000.00 | 95.83 | 326,766.08 | 1.03% | G | |||
| 3133ENR77 | FEDERAL FARM CREDIT BANK 4.92 1/12/2026 | 327,000.00 | 99.89 | 326,630.11 | 1.03% | G | |||
| 00928QAR2 | AIRCASTLE LTD 4.4 9/25/2023 | 325,000.00 | 99.04 | 321,865.22 | 1.02% | B | |||
| 3137BM7B6 | FHMS K051 A1 2.887 4/25/2025 | 329,810.13 | 97.18 | 320,512.12 | 1.01% | FH | |||
| 36263DAA5 | GCAR 2021-4A A 0.84 7/15/2025 | 319,814.76 | 98.48 | 314,954.73 | 1.00% | MR | |||
| 3136AXJT3 | FNR 2017-49 JA 4 7/25/2053 | 317,087.38 | 98.05 | 310,912.52 | 0.98% | FM | |||
| 33845VAA9 | FCAT 2022-1 A 1.79 10/15/2026 | 319,006.98 | 96.25 | 307,054.75 | 0.97% | MR | |||
| 3137B4WB8 | FHMS K033 A2 FRN 7/25/2023 | 300,000.00 | 98.82 | 296,455.17 | 0.94% | FH | |||
| 3137B4WA0 | FHMS K033 A1 2.871 2/25/2023 | 297,837.38 | 99.45 | 296,190.64 | 0.94% | FH | |||
| 47800AAB6 | JDOT 2022-B A2 3.73 6/16/2025 | 285,000.00 | 98.78 | 281,515.25 | 0.89% | MR | |||
| 33845AAA5 | FCAT 2021-4 A 0.81 7/17/2026 | 279,660.15 | 96.81 | 270,735.58 | 0.86% | MR | |||
| 02529NAG2 | ACAR 2019-3 D 2.89 9/12/2025 | 269,254.17 | 99.31 | 267,385.12 | 0.85% | MR | |||
| 3136ALD81 | FNR 2014-85 LB 3 2/25/2033 | 269,603.46 | 98.36 | 265,172.02 | 0.84% | FM | |||
| 68269LAA4 | OMFIT 2020-1A A 3.84 5/14/2032 | 258,859.94 | 99.1 | 256,521.68 | 0.81% | MR | |||
| 36265QAB2 | GMCAR 2022-4 A2A 4.6 11/17/2025 | 258,000.00 | 99.42 | 256,515.11 | 0.81% | MR | |||
| 3130ATRL3 | FEDERAL HOME LOAN BANK 4.75 10/24/2023 | 245,000.00 | 99.97 | 244,928.06 | 0.77% | G | |||
| 48128LRZ4 | JP MORGAN CHASE BANK NA FRN 12/4/2023 | 245,000.00 | 98.42 | 241,116.75 | 0.76% | CD | |||
| 31568EAA6 | FHF 2022-2A A 6.14 12/15/2027 | 242,425.12 | 99.07 | 240,164.68 | 0.76% | MR | |||
| 12598NAA0 | CIGAR 2021-1A A 0.69 4/14/2025 | 213,765.85 | 98.08 | 209,659.24 | 0.66% | MR | |||
| 32057KAA8 | FIAOT 2022-1A A 2.03 1/15/2027 | 215,419.42 | 96.8 | 208,519.69 | 0.66% | MR | |||
| 3137F4R46 | FHR 4776 QM 3 6/15/2045 | 204,175.66 | 97.56 | 199,203.59 | 0.63% | FH | |||
| 36259PAG1 | GMALT 2020-2 C 2.56 7/22/2024 | 190,000.00 | 99.61 | 189,267.74 | 0.60% | MR | |||
| 36263LAC3 | GCAR 2021-3A B 0.78 11/17/2025 | 195,000.00 | 96.78 | 188,729.70 | 0.60% | MR | |||
| 3137BF5B3 | FHR 4409 MA 3 1/15/2054 | 193,266.79 | 97.09 | 187,648.99 | 0.59% | FH | |||
| 96043JAC9 | WLAKE 2021-3A A2 0.57 9/16/2024 | 187,060.41 | 99.12 | 185,422.92 | 0.59% | MR | |||
| 96042RAB4 | WLAKE 2021-2A A2A 0.32 4/15/2025 | 178,080.41 | 98.75 | 175,853.72 | 0.56% | MR | |||
| 80285WAF4 | SDART 2020-3 C 1.12 1/15/2026 | 171,022.33 | 98.94 | 169,214.54 | 0.53% | MR | |||
| 345329AB2 | FORDL 2021-B A2 0.24 4/15/2024 | 168,686.87 | 99.47 | 167,791.62 | 0.53% | MR | |||
| 14687HAA1 | CRVNA 2021-N4 A1 0.83 9/11/2028 | 164,223.32 | 97.13 | 159,505.55 | 0.50% | MR | |||
| 3130ATC47 | FEDERAL HOME LOAN BANK 3.72 10/10/2023 | 150,000.00 | 99.36 | 149,043.20 | 0.47% | G | |||
| 3130ARNT4 | FEDERAL HOME LOAN BANK STEP-CPN 4/29/2027 | 150,000.00 | 97.53 | 146,299.56 | 0.46% | G | |||
| 14686GAA4 | CRVNA 2022-N1 A1 2.31 12/11/2028 | 142,908.36 | 97.18 | 138,872.07 | 0.44% | MR | |||
| 31394AWL6 | FNR 2004-60 FW FRN 4/25/2034 | 128,687.31 | 99.67 | 128,268.63 | 0.41% | FM | |||
| 43815EAB0 | HAROT 2021-3 A2 0.2 2/20/2024 | 118,517.61 | 99.3 | 117,693.07 | 0.37% | MR | |||
| 90944DAA9 | UACST 2022-1 A 1.11 7/10/2024 | 117,805.90 | 99.42 | 117,122.33 | 0.37% | MR | |||
| 670837AC7 | OGE ENERGY CORP 0.703 5/26/2023 | 113,000.00 | 97.98 | 110,718.71 | 0.35% | B | |||
| 042859AA6 | ARRW 2019-1 A1 FRN 1/25/2049 | 105,859.22 | 92.56 | 97,982.17 | 0.31% | MR | |||
| 88161FAB2 | TESLA 2021-A A2 0.36 3/20/2025 | 94,270.31 | 98.93 | 93,257.89 | 0.29% | MR | |||
| 36263LAA7 | GCAR 2021-3A A 0.42 1/15/2025 | 39,967.58 | 99.32 | 39,694.57 | 0.13% | MR | |||
| 20825GAA3 | CONN 2021-A A 1.05 5/15/2026 | 32,373.89 | 99.76 | 32,296.38 | 0.10% | MR | |||
| 3137BXDL3 | FHR 4673 LB 2.5 4/15/2044 | 27,431.22 | 98.52 | 27,024.49 | 0.09% | FH | |||
| 380149AB0 | GMCAR 2021-2 A2 0.27 6/17/2024 | 6,294.33 | 99.81 | 6,282.47 | 0.02% | MR | |||
| X9USDJPMR | JP MORGAN USD GOVT MONEY MARKET INSTL | 1,566,058.78 | 1 | 1,566,058.78 | 4.95% | MM | |||
| CASH | -1,246,594.78 | 100 | -1,246,594.78 | -3.94% | 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
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- 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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