(MINC) NEWFLEET MULTI-SECTOR INCOME ETF

NAV as of 1/24/2020

$48.75

1 Day NAV Change as of 1/24/2020

$0.04

Morningstar Rating

Short-Term Multi-Sector Bond
Overall rating as of 12/31/2019 based on risk adjusted returns of 488 funds

Manager Commentary
Fact Sheet
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MINC

Overview

The AdvisorShares Newfleet Multi-Sector Income ETF (NYSE Arca: MINC) seeks to provide current income consistent with preservation of capital, while limiting fluctuations in net asset value (“NAV”) due to changes in interest rates. MINC is managed by Newfleet Asset Management (“Portfolio Manager”), an investment subsidiary of Virtus Investment Partners. Newfleet believes that active fixed income sector rotation and quality security selection, combined with disciplined risk management, offers the best potential to achieve the Fund’s investment objective of providing a high level of total return, including a competitive level of current income in the fixed income market.

Symbol Exchange Inception Date CUSIP Indicative Value
MINC NYSE Arca 3/19/2013 00768Y727 MINC.IV
<strong>Why Invest in MINC?</strong>
  • For Portfolio Diversification – Spreading your investment risk among bonds in all the material bond sectors, including bonds with different maturities and credit qualities can help diversify an overall portfolio.
  • For a Value-Oriented Approach to Fixed Income Investing – The portfolio manager believes that active bond sector rotation and quality security selection, combined with disciplined risk management, is the most effective means of achieving total returns in the fixed income market.
  • For Simplified Bond Investing – MINC is designed for any investor seeking one bond fund that includes all the major bond sectors.
<strong>Key Attributes</strong>
  1. Low Duration – MINC’s low average duration, targeted at between 1 and 3 years, may potentially make it less sensitive to interest rate changes than other bond ETFs with higher average durations.
  2. High Quality – MINC primarily invests in high quality investment-grade debt, which are securities with credit ratings within the 4 highest rating categories of nationally recognized bond rating organizations.
  3. Active Bond Sector Rotation – The Portfolio Manager actively seeks to strategically overweight undervalued bond sectors in an effort to add value to the portfolio.
  4. Risk Controls – The portfolio manager employs disciplined risk management controls with the following parameters: Below investment grade maximum: 20%; Non-U.S. maximum: 30%; Industry maximum: 25%.
  5. Professional Experience – The portfolio management team has over 70 years of combined investment experience. MINC is being carefully managed by seasoned investment professionals.
<strong>About the Portfolio Managers</strong>
David L. Albrycht, CFA. – President and Chief Investment Officer
David Albrycht is president and chief investment officer of Newfleet Asset Management, an investment management affiliate of Virtus Investment Partners. Prior to joining Newfleet in 2011, Mr. Albrycht was executive managing director and senior portfolio manager with Goodwin Capital Advisers, a former Virtus investment management subsidiary. He joined the Goodwin multi-sector fixed income team in 1985 as a credit analyst and has managed fixed income portfolios since 1991.

Mr. Albrycht earned a B.A., cum laude, from Central Connecticut State University and an M.B.A., with honors, from the University of Connecticut. He holds the Chartered Financial Analyst designation.

Benjamin L. Caron, CFA, Senior Managing Director
In his current role, Mr. Caron is co-portfolio manager of, and assists in the management of, several fixed income portfolios at Newfleet Asset Management, an investment management affiliate of Virtus Investment Partners. Working with the CIO and senior portfolio manager, Mr. Caron contributes to multi-sector strategy and is responsible for strategy execution and portfolio monitoring across open-end funds, closed-end funds, ETFs, and offshore vehicles that the team manages. Prior to joining the Sub-Advisor in 2011, Mr. Caron was on the fixed income team at Goodwin Capital Advisers (the former Phoenix Investment Counsel).

Mr. Caron earned a B.A. from Syracuse University and an M.B.A. from Suffolk University. He is a CFA® (Chartered Financial Analyst®) charterholder. Mr. Caron began his career in the investment industry in 1997.

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Fund

Price History

As of 1/24/2020

NAV $48.75 Closing Price $48.72
Change $0.04 Close Change $-0.01
Shares Outstanding 1,450,000 Volume 884
4PM Bid/Offer Midpoint $48.71 Premium Discount $-0.04
Assets Under Management $70,691,815.85    

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.

FUND

Performance

As of 12/31/2019

NAV Market Price Return Bloomberg Capital Aggregate Bond Index BofA Merrill Lynch 1-5 Year US Corp & Govt Bond Index
1 Month 0.18 0.14 -0.07 0.14
3 Months 0.63 0.63 0.18 0.44
YTD 5.34 5.33 8.72 2.21
1 Year 5.34 5.33 8.72 0.14
3 Years 2.71 2.68 4.03 0.44
5 Years 2.53 2.47 3.05 1.02
Since Inception (3/19/2013, Annualized) 2.28 2.26 2.84 0.76

As of 12/31/2019

NAV Market Price Return Bloomberg Capital Aggregate Bond Index BofA Merrill Lynch 1-5 Year US Corp & Govt Bond Index
1 Month 0.18 0.14 -0.07 0.14
3 Months 0.63 0.63 0.18 0.44
YTD 5.34 5.33 8.72 2.21
1 Year 5.34 5.33 8.72 2.21
3 Years 2.71 2.68 4.03 1.61
5 Years 2.53 2.47 3.05 1.02
Since Inception (3/19/2013, Annualized) 2.28 2.26 2.84 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.

Fund

Holdings

As of 1/24/2020

Date Account Symbol Stock Ticker Security Number Security Shares Price Market Value Weight % Asset Group
01/24/2020 MINC 9128286Y1 US TREASURY N/B 1.75 6/15/2022 1,600,000 100.66 1,610,562.50 2.28% TN 1
78403DAL4 SBA TOWER TRUST 3.168 4/11/2022 780,000 101.54 792,049.91 1.12% B 1
78403DAK6 SBA TOWER TRUST 2.877 7/9/2021 780,000 100.60 784,671.42 1.11% B 1
12433UAG0 BX 2018-GW B FRN 5/15/2035 700,000 100.08 700,581.21 0.99% MR 1
24381CAA0 DRMT 2017-2A A1 FRN 6/25/2047 687,945 100.30 689,986.09 0.98% MR 1
31418DC67 FN MA3692 3.5 7/1/2049 649,891 103.12 670,137.74 0.95% FM 1
32059BAE8 FIAOT 2017-2A B 2.65 11/15/2022 650,000 100.30 651,929.66 0.92% MR 1
88642MAC4 TMCAT 2018-AA B 3.45 11/15/2024 525,000 100.80 529,186.14 0.75% MR 1
64829HAA5 NRZT 2016-3A A1 FRN 9/25/2056 458,441 104.48 478,976.03 0.68% MR 1
85572MAA8 SWH 2017-1 A FRN 1/17/2035 470,574 100.09 471,020.03 0.67% MR 1
301656AE4 EART 2018-1A C 3.03 1/17/2023 465,000 100.55 467,536.67 0.66% MR 1
61746BEC6 MORGAN STANLEY FRN 10/24/2023 445,000 102.49 456,063.43 0.65% B 1
35105DAE1 FCRT 2018-1 C 3.68 8/15/2023 445,000 101.80 452,996.47 0.64% MR 1
30167BAC5 EART 2018-2A C 3.69 3/15/2023 445,000 101.08 449,821.58 0.64% MR 1
61746BDQ6 MORGAN STANLEY 3.875 4/29/2024 410,000 107.21 439,577.83 0.62% B 1
46625HKK5 JPMORGAN CHASE & CO 5.3 PERPETUAL 12/1/2065 430,000 100.75 433,240.05 0.61% B 1
378272AF5 GLENCORE FUNDING LLC 4.125 5/30/2023 410,000 104.88 429,999.07 0.61% FB 1
36166PAA6 GCAT 2019-NQM1 A1 FRN 2/25/2059 418,812 100.84 422,331.67 0.60% MR 1
07384M4H2 BSARM 2004-10 21A1 FRN 1/25/2035 407,870 103.41 421,790.12 0.60% MR 1
46641YAN3 JPMMT 2014-2 AM FRN 6/25/2029 414,084 101.53 420,427.55 0.60% MR 1
02530AAE2 ACAR 2018-3 C 3.75 10/15/2024 415,000 100.77 418,214.59 0.59% MR 1
36416UAG0 GFMT 2017-1 A21 FRN 7/25/2056 399,374 101.83 406,679.92 0.58% MR 1
258258AA0 DORIC NIMROD AIR 2012-1A 5.125 11/30/2022 392,487 103.16 404,879.34 0.57% FB 1
52603JAA8 LFT 2018-2A A 4.23 4/20/2027 390,000 103.17 402,380.63 0.57% MR 1
68376VAA2 OPTN 2018-B A 3.91 7/8/2024 390,000 101.44 395,600.56 0.56% MR 1
49456BAB7 KINDER MORGAN INC 5.625 11/15/2023 355,000 111.23 394,861.58 0.56% B 1
9128286B1 US TREASURY N/B 2.625 2/15/2029 365,000 108.07 394,456.64 0.56% TN 1
201736AC9 CMLBC 2001-CMLB A3 FRN 6/20/2031 386,859 101.35 392,075.79 0.56% MR 1
12648HAK1 CSMC 2014-IVR2 A2 FRN 4/25/2044 379,541 102.46 388,879.41 0.55% MR 1
96042GAJ1 WLAKE 2018-3A C 3.61 10/16/2023 380,000 101.62 386,151.21 0.55% MR 1
02529MAE9 ACAR 2018-4 C 3.97 1/13/2025 380,000 101.60 386,067.92 0.55% MR 1
81747EAM9 SEMT 2018-CH2 A12 FRN 6/25/2048 369,989 101.16 374,275.30 0.53% MR 1
17320XAA2 CMLTI 2013-A A FRN 5/25/2042 374,947 98.87 370,722.64 0.53% MR 1
86359BHJ3 SASC 2004-4XS A3A 5.140042 2/25/2034 359,052 102.91 369,484.35 0.52% MR 1
064058AD2 BNYM CORP 4.950000 12/49 PERPETUAL 360,000 101.11 364,006.80 0.52% B 1
345397XQ1 FORD MOTOR CREDIT CO LLC 3.2 1/15/2021 360,000 100.85 363,052.04 0.51% B 1
32057HAG2 FIAOT 2016-2A C 2.53 7/15/2022 355,000 100.19 355,677.20 0.50% MR 1
30167DAC1 EART 2019-1A C 3.82 12/16/2024 345,000 102.34 353,075.83 0.50% MR 1
125523AB6 CIGNA CORP FRN 9/17/2021 350,000 100.01 350,035.84 0.50% B 1
06051GGJ2 BANK OF AMERICA CORP FRN 4/24/2023 345,000 101.31 349,507.20 0.50% B 1
69362BBC5 PSEG POWER LLC 3.85 6/1/2023 330,000 105.55 348,322.89 0.49% B 1
44106MAS1 SERVICE PROPERTIES TRUST 4.65 3/15/2024 330,000 105.05 346,669.57 0.49% B 1
87165BAN3 SYNCHRONY FINANCIAL 4.375 3/19/2024 315,000 107.17 337,588.79 0.48% B 1
89690EAF4 TRMF 2017-1A A1 2.709 8/15/2047 334,551 100.21 335,254.52 0.48% MR 1
38141GWC4 GOLDMAN SACHS GROUP INC 3 4/26/2022 330,000 101.30 334,284.00 0.47% B 1
02209SBB8 ALTRIA GROUP INC 3.8 2/14/2024 313,000 106.11 332,115.55 0.47% B 1
64829LAA6 NRZT 2016-4A A1 FRN 11/25/2056 311,703 104.55 325,894.06 0.46% MR 1
95000U2C6 WELLS FARGO & COMPANY 3.75 1/24/2024 305,000 106.21 323,936.50 0.46% B 1
501890AA5 LHOME 2019-RTL1 A1 4.58 10/25/2023 315,000 102.29 322,206.26 0.46% MR 1
88161NAB5 TESLA 2018-B B 4.12 10/20/2021 310,000 102.73 318,476.83 0.45% MR 1
17327DAA9 CMLTI 2018-RP3 A1 FRN 3/25/2061 310,930 102.36 318,255.89 0.45% MR 1
05369AAC5 AVIATION CAPITAL GROUP 3.875 5/1/2023 306,000 103.94 318,060.50 0.45% B 1
03237JAB3 AXIS 2018-2A A2 3.89 7/20/2022 310,054 101.76 315,520.72 0.45% MR 1
24380RAA8 DRMT 2019-1A A1 FRN 1/25/2059 311,039 101.05 314,315.20 0.45% MR 1
59020ULQ6 MLMI 2004-A4 A1 FRN 8/25/2034 308,909 101.75 314,306.83 0.45% MR 1
89614SAB5 TAST 2018-2A B 4.76 2/15/2022 308,465 101.38 312,730.36 0.44% MR 1
59980TAA4 MCMLT 2016-1 A1 FRN 4/25/2057 311,209 100.41 312,481.58 0.44% MR 1
89172UAA6 TPMT 2016-4 A1 FRN 7/25/2056 311,061 100.42 312,379.36 0.44% MR 1
32059TAE9 FIAOT 2019-1A C 3.26 3/17/2025 305,000 102.06 311,275.74 0.44% MR 1
05606XAA2 BXGNT 2015-A A 2.88 5/2/2030 310,541 100.12 310,926.85 0.44% MR 1
90352VAB2 USAUT 2019-1A B 3.99 12/15/2022 305,000 101.19 308,642.95 0.44% MR 1
07331YAA8 BOMFT 2017-SPL4 A FRN 1/28/2055 302,851 101.58 307,630.30 0.44% MR 1
78471WAB1 SCLP 2018-2 A2 3.35 4/26/2027 305,000 100.61 306,847.39 0.43% MR 1
96033WAA6 WESTR 2018-1A A 3.38 12/20/2031 302,051 101.15 305,513.55 0.43% MR 1
11135FAD3 BROADCOM INC 3.625 10/15/2024 290,000 104.77 303,828.39 0.43% B 1
134429BE8 CAMPBELL SOUP CO 3.65 3/15/2023 290,000 104.74 303,739.68 0.43% B 1
12592BAJ3 CNH INDUSTRIAL CAP LLC 4.2 1/15/2024 280,000 107.16 300,057.65 0.43% B 1
42806DBC2 HERTZ 2016-4A A 2.65 7/25/2022 295,000 100.87 297,559.24 0.42% MR 1
466247NT6 JPMMT 2005-A2 4A1 FRN 4/25/2035 288,443 103.07 297,310.46 0.42% MR 1
19687XAA5 COLT 2019-1 A1 FRN 3/25/2049 293,122 101.29 296,891.10 0.42% MR 1
03066HAG2 AMCAR 2018-1 D 3.82 3/18/2024 285,000 104.07 296,612.07 0.42% MR 1
16158RAD8 CHASE 2019-ATR1 A4 FRN 4/25/2049 292,656 100.97 295,499.14 0.42% MR 1
86359BNU1 SARM 2004-4 3A2 FRN 4/25/2034 280,147 104.99 294,117.63 0.42% MR 1
05584AAA8 HGVGI 2017-1A A 2.94 5/25/2029 292,337 100.48 293,731.23 0.42% MR 1
17322GAA7 CMLTI 2014-A A FRN 1/25/2035 280,600 104.35 292,798.41 0.41% MR 1
62854AAN4 MYLAN NV 3.95 6/15/2026 275,000 106.13 291,852.54 0.41% B 1
46644XAC6 JPMMT 2015-5 A2 FRN 5/25/2045 290,900 100.22 291,535.35 0.41% MR 1
21872BAA4 CAFL 2018-1 A 3.804 6/15/2051 278,388 103.82 289,016.81 0.41% MR 1
59980YAB1 MCMLT 2018-4 A1B FRN 4/25/2066 275,000 104.07 286,183.01 0.41% MR 1
23343CAE1 DTAOT 2018-3A C 3.79 7/15/2024 280,000 101.82 285,102.30 0.40% MR 1
BL3246792 00001 CALPINE CORPORAT 01/15/24 Term Loan 280,349 100.57 281,940.38 0.40% TL 1
BL2701110 00001 VALEANT 06/02/25 TERM LOAN 279,871 100.70 281,842.88 0.40% TL 1
43789AAA2 HOF 2018-1 A1 FRN 6/25/2048 272,259 101.25 275,667.10 0.39% MR 1
92343VEP5 VERIZON COMMUNICATIONS FRN 5/15/2025 267,000 102.97 274,924.18 0.39% B 1
43789EAA4 HOF 2019-1 A1 FRN 1/25/2059 265,742 101.21 268,955.15 0.38% MR 1
94989EAE7 WFCM 2015-LC20 A5 3.184 4/15/2050 255,000 105.41 268,782.80 0.38% MR 1
709599BC7 PENSKE TRUCK LEASING/PTL 4.125 8/1/2023 250,000 106.86 267,146.36 0.38% B 1
24703DAY7 DELL INT LLC / EMC CORP 4 7/15/2024 250,000 106.03 265,070.17 0.38% B 1
05401AAF8 AVOLON HOLDINGS FNDG LTD 3.95 7/1/2024 249,000 105.30 262,201.98 0.37% FB 1
BL2355958 00001 STATION CASINOS LLC 06/08/23 TERM LOAN 260,978 100.35 261,881.98 0.37% TL 1
92537FAA3 VERUS 2019-INV1 A1 FRN 12/25/2059 257,010 101.48 260,811.32 0.37% MR 1
120568BA7 BUNGE LTD FINANCE CORP 4.35 3/15/2024 245,000 106.17 260,121.01 0.37% B 1
17323MAA3 CMLTI 2015-A A1 FRN 6/25/2058 254,200 102.29 260,020.53 0.37% MR 1
05526DAV7 BAT CAPITAL CORP 2.764 8/15/2022 255,000 101.76 259,480.95 0.37% FB 1
46647PAD8 JPMORGAN CHASE & CO FRN 4/25/2023 255,000 101.21 258,081.92 0.37% B 1
00772BAF8 AERCAP IRELAND CAP/GLOBA 4.5 5/15/2021 250,000 103.13 257,829.28 0.37% FB 1
89171VAB3 TPMT 2015-5 A2 FRN 5/25/2055 250,000 103.04 257,598.40 0.37% MR 1
172967KY6 CITIGROUP INC 3.2 10/21/2026 245,000 105.07 257,432.97 0.36% B 1
68268XAC5 ODART 2018-1A C 3.85 10/14/2025 250,000 102.75 256,868.50 0.36% MR 1
35634BAB1 FREED 2018-2 B 4.61 10/20/2025 250,000 102.50 256,254.20 0.36% MR 1
BL2371161 00001 CENTURYLINK INC 01/31/ 01/31/25 TERM LOAN 254,183 100.22 254,731.20 0.36% TL 1
45580KAJ7 IND & COMM BK CHINA/NY 2.957 11/8/2022 250,000 101.82 254,541.31 0.36% FB 1
89172YAA8 TPMT 2016-3 A1 FRN 4/25/2056 253,568 100.35 254,467.16 0.36% MR 1
38141GWB6 GOLDMAN SACHS GROUP INC 3.85 1/26/2027 235,000 107.80 253,326.12 0.36% B 1
05357HAJ9 AVMT 2013-AVM C FRN 12/5/2032 250,000 100.63 251,572.20 0.36% MR 1
22534BAA2 CAALT 2018-1A A 3.01 2/16/2027 250,000 100.49 251,218.23 0.36% MR 1
80282KAW6 SANTANDER HOLDINGS USA 3.5 6/7/2024 240,000 103.88 249,303.72 0.35% B 1
233293AP4 DPL INC 4.35 4/15/2029 250,000 99.37 248,436.25 0.35% B 1
35040UAA9 FFIN 2017-1A A 3.3 7/15/2033 246,241 100.60 247,709.78 0.35% MR 1
91833JAA8 VOLT 2019-NPL1 A1A FRN 1/25/2049 244,564 100.99 246,991.62 0.35% MR 1
BL2552414 00001 INEOS US FINANCE 04/01/24 Term Loan 243,862 100.41 244,868.77 0.35% TL 1
228227BE3 CROWN CASTLE INTL CORP 4.875 4/15/2022 230,000 106.17 244,183.67 0.35% B 1
67098AAC3 OBX 2019-INV1 A3 FRN 11/25/2048 234,789 103.80 243,707.18 0.35% MR 1
26209WAF0 DRIVE 2019-3 C 2.9 8/15/2025 240,000 101.52 243,657.41 0.35% MR 1
80284TAK1 SDART 2017-1 C 2.58 5/16/2022 242,848 100.09 243,068.09 0.34% MR 1
92840VAD4 VISTRA OPERATIONS CO LLC 3.55 7/15/2024 235,000 103.13 242,351.09 0.34% B 1
86934NAA7 SCML 2018-SBC7 A FRN 5/25/2039 238,856 101.16 241,629.90 0.34% MR 1
78432BAA7 SGR 2019-3 A1 FRN 9/25/2059 233,992 100.59 235,376.45 0.33% MR 1
247126AJ4 APTIV CORP 4.15 3/15/2024 215,000 106.97 229,979.49 0.33% B 1
455780BQ8 REPUBLIC OF INDONESIA 5.875 1/15/2024 200,000 113.70 227,402.42 0.32% FB 1
69358XAA8 PRPM 2019-2A A1 FRN 4/25/2024 226,176 100.42 227,126.82 0.32% MR 1
30165YAC7 EART 2017-3A B 2.81 9/15/2022 222,247 100.37 223,058.63 0.32% MR 1
23343JAE6 DTAOT 2019-4A C 2.73 7/15/2025 220,000 101.13 222,493.17 0.32% MR 1
40066NAA4 GUANAY FINANCE LTD 6 12/15/2020 220,011 100.83 221,826.52 0.31% FB 1
36258AAB6 GCAR 2019-3A B 2.72 6/17/2024 220,000 100.65 221,429.87 0.31% MR 1
07386HJG7 BALTA 2004-5 3A1 FRN 6/25/2034 211,655 104.47 221,107.65 0.31% MR 1
96042FAF1 WLAKE 2018-2A D 4 1/16/2024 215,000 102.72 220,855.70 0.31% MR 1
30167GAE0 EART 2019-4A C 2.44 9/16/2024 220,000 100.30 220,663.70 0.31% MR 1
00969DAA8 AJAXM 2017-B A FRN 9/25/2056 219,147 100.66 220,590.09 0.31% MR 1
836205AR5 REPUBLIC OF SOUTH AFRICA 5.875 9/16/2025 200,000 110.26 220,512.00 0.31% FB 1
05492MAC9 BCCFC 2019-1A B 2.64 9/20/2024 220,000 100.08 220,166.76 0.31% MR 1
30312JAB4 FREED 2019-2 B 3.19 11/18/2026 220,000 100.07 220,144.98 0.31% MR 1
55389PAA7 MVWOT 2019-1A A 2.89 11/20/2036 215,514 102.04 219,913.22 0.31% MR 1
20268CAA6 CBSLT 2019-AGS A1 2.54 1/25/2047 217,612 100.73 219,197.37 0.31% MR 1
172967LH2 CITIGROUP INC FRN 4/25/2022 215,000 101.48 218,178.41 0.31% B 1
68267DAA4 OMFIT 2019-1A A 3.48 2/14/2031 215,000 101.37 217,948.60 0.31% MR 1
46641YAJ2 JPMMT 2014-2 2A2 FRN 6/25/2029 213,356 102.04 217,702.89 0.31% MR 1
205887CA8 CONAGRA BRANDS INC 4.3 5/1/2024 200,000 108.80 217,599.95 0.31% B 1
22411XAD6 CPS 2018-D D 4.34 9/16/2024 210,000 103.18 216,681.68 0.31% MR 1
03846JW22 ARAB REPUBLIC OF EGYPT 5.875 6/11/2025 200,000 107.88 215,756.40 0.31% FB 1
900123CV0 REPUBLIC OF TURKEY 6.35 8/10/2024 200,000 107.82 215,646.40 0.31% FB 1
23343GAE2 DTAOT 2019-1A C 3.61 11/15/2024 210,000 102.11 214,440.62 0.30% MR 1
629377CK6 NRG ENERGY INC 3.75 6/15/2024 204,000 104.19 212,539.87 0.30% B 1
63938CAB4 NAVIENT CORP 5.875 10/25/2024 200,000 106.25 212,498.00 0.30% B 1
85208NAD2 SPRINT SPECTRUM / SPEC I 4.738 3/20/2025 200,000 106.15 212,307.00 0.30% B 1
12510FAC8 CCG 2019-2 B 2.55 3/15/2027 210,000 100.63 211,317.92 0.30% MR 1
80282KAT3 SANTANDER HOLDINGS USA 3.7 3/28/2022 205,000 103.05 211,255.16 0.30% B 1
91678WAA7 UPST 2019-3 A 2.684 1/21/2030 210,000 100.17 210,361.66 0.30% MR 1
76119MAA7 RMLT 2019-1 A1 FRN 10/25/2058 205,184 101.61 208,483.49 0.30% MR 1
962178AN9 TRI POINTE GROUP / HOMES 5.875 6/15/2024 190,000 109.47 207,997.75 0.29% B 1
02530DAC0 ACAR 2019-2 C 3.17 6/12/2025 205,000 101.40 207,871.13 0.29% MR 1
90945QAD3 UACST 2019-1 D 3.47 8/12/2024 205,000 101.37 207,815.92 0.29% MR 1
55400DAA9 MVWOT 2019-2A A 2.22 10/20/2038 205,882 100.04 205,959.48 0.29% MR 1
66977WAP4 NOVA CHEMICALS CORP 5 5/1/2025 200,000 102.40 204,793.00 0.29% FB 1
12625GAC8 CNOOC FINANCE 2013 LTD 3 5/9/2023 200,000 102.26 204,512.84 0.29% FB 1
411707AB8 HNGRY 2018-1A A2I 4.25 6/20/2048 202,438 100.91 204,279.68 0.29% MR 1
BL2702969 00001 ARAMARK SERVICES 03/28/24 Term Loan 202,310 100.70 203,732.11 0.29% TL 1
48283PAE1 KABB 2019-1 A 3.825 3/15/2024 200,000 101.24 202,486.16 0.29% MR 1
14040HBK0 CAPITAL ONE FINANCIAL CO 3.75 7/28/2026 190,000 106.12 201,626.83 0.29% B 1
05947KAZ3 BANCO BRADESCO (CAYMAN) 3.2 1/27/2025 200,000 100.33 200,654.80 0.28% FB 1
038370AA0 AQFIT 2019-A A 3.14 7/16/2040 198,745 100.86 200,463.29 0.28% MR 1
04010LAU7 ARES CAPITAL CORP 3.5 2/10/2023 195,000 102.33 199,541.59 0.28% B 1
57109HAA0 MFT 2019-2A A 3.13 7/16/2029 197,814 100.74 199,276.74 0.28% MR 1
03236TAG1 AXIS 2018-1A A2 3.24 12/20/2023 196,887 100.78 198,427.03 0.28% MR 1
92872KAA5 VOLT 2019-NPL2 A1 FRN 2/25/2049 193,326 100.65 194,587.45 0.28% MR 1
68504UAB7 ONGLT 2019-A B 3.36 4/9/2038 191,174 101.63 194,292.62 0.28% MR 1
00206RGD8 AT&T INC FRN 6/12/2024 190,000 102.18 194,136.54 0.28% B 1
57110AAA2 MFT 2019-4A A 2.39 12/17/2029 193,491 100.18 193,846.36 0.27% MR 1
576434QC1 MALT 2004-4 6A1 5.5 4/25/2034 188,194 102.97 193,789.71 0.27% MR 1
12592FAA3 COMM 2014-277P A FRN 8/10/2049 180,000 106.73 192,115.87 0.27% MR 1
71654QCD2 PETROLEOS MEXICANOS 4.625 9/21/2023 180,000 106.29 191,324.70 0.27% FB 1
74937LAA4 RCO 2019-1 A1 FRN 5/24/2024 189,693 100.58 190,792.85 0.27% MR 1
12647JBJ0 CSMC 2013-HYB1 A16 FRN 4/25/2043 190,398 100.15 190,684.68 0.27% MR 1
86359BGQ8 SARM 2004-1 6A FRN 2/25/2034 185,027 102.96 190,508.80 0.27% MR 1
89173FAA8 TPMT 2017-1 A1 FRN 10/25/2056 186,555 101.28 188,941.14 0.27% MR 1
252722AB9 DROT 2019-1A B 3.53 2/20/2032 186,308 100.99 188,159.80 0.27% MR 1
036752AJ2 ANTHEM INC 2.375 1/15/2025 185,000 101.04 186,923.88 0.26% B 1
BL2385591 00001 Cablevision Systems 3/17 Cov-Li 07/17/25 Term Loan 184,989 100.50 185,914.18 0.26% TL 1
48128BAG6 JPMORGAN CHASE & CO 4.6 08/01/2168 182,000 102.00 185,640.00 0.26% B 1
949803AA8 WFMBS 2004-U A1 FRN 10/25/2034 185,199 100.17 185,506.97 0.26% MR 1
87342RAC8 BELL 2016-1A A23 4.97 5/25/2046 170,625 108.24 184,680.99 0.26% MR 1
36258YBL1 GSMS 2020-GC45 AS 3.1731 2/13/2053 175,000 104.95 183,657.67 0.26% MR 1
92535TAD9 VERUS 2018-2 B1 FRN 6/1/2058 180,000 101.64 182,958.30 0.26% MR 1
15189TAW7 CENTERPOINT ENERGY INC 2.5 9/1/2024 180,000 101.08 181,952.27 0.26% B 1
17323CAD9 CGCMT 2015-GC27 A4 2.878 2/10/2048 175,000 103.78 181,612.52 0.26% MR 1
92536FAA4 VERUS 2018-1 A1 FRN 2/25/2048 180,743 100.39 181,448.28 0.26% MR 1
233331AW7 DTE ENERGY CO 2.529 10/1/2024 179,000 101.29 181,306.88 0.26% B 1
42824CBE8 HP ENTERPRISE CO 2.25 4/1/2023 180,000 100.42 180,752.42 0.26% B 1
83085DAC9 SKOP 2019-1A C 3.63 9/16/2024 180,000 100.40 180,716.56 0.26% MR 1
30161NAW1 EXELON CORP 3.497 6/1/2022 175,000 102.87 180,030.49 0.26% B 1
83405TAA1 SCLP 2019-3 A 2.9 5/25/2028 177,858 100.72 179,140.18 0.25% MR 1
38141GVX9 GOLDMAN SACHS GROUP INC FRN 10/28/2027 170,000 105.15 178,763.30 0.25% B 1
45660LEW5 RAST 2005-A1 A3 5.5 4/25/2035 173,203 102.98 178,369.34 0.25% MR 1
36228FPE0 GSR 2003-3F 1A6 6 4/25/2033 171,268 103.53 177,307.02 0.25% MR 1
38141EB81 GOLDMAN SACHS GROUP INC FRN 11/29/2023 170,000 103.86 176,568.50 0.25% B 1
65489MAB0 NMEF 2019-A B 3.06 8/17/2026 175,000 100.60 176,045.90 0.25% MR 1
12597JAC6 CPS 2020-A C 2.54 12/15/2025 175,000 100.52 175,906.50 0.25% MR 1
916780AA7 UPST 2019-2 A 2.897 9/20/2029 174,576 100.41 175,288.61 0.25% MR 1
369604BQ5 GENERAL ELECTRIC CO 5 PERPETUAL 6/15/2166 175,000 99.53 174,172.25 0.25% B 1
24702JAD1 DEFT 2017-2 A3 2.19 10/24/2022 172,533 100.04 172,604.53 0.24% MR 1
43800KAA5 HOF 2019-3 A1 FRN 11/25/2059 170,865 100.81 172,240.82 0.24% MR 1
67113AAP5 OBX 2019-EXP3 1A8 FRN 10/25/2059 168,088 101.51 170,634.09 0.24% MR 1
17326QAA1 CMLTI 2018-RP1 A1 FRN 9/25/2064 164,763 101.74 167,625.88 0.24% MR 1
67576TAA7 OCTL 2019-1A A 3.16 9/20/2023 167,046 100.12 167,244.61 0.24% MR 1
74142RAA2 PRET 2019-NPL3 A1 FRN 7/27/2059 165,638 100.30 166,134.06 0.24% MR 1
BL2636589 00001 TransDigm 2/18 C 08/22/24 165,767 100.20 166,095.22 0.24% TL 1
00085MAA7 ACC 2019-1 A 3.75 5/20/2022 164,170 100.57 165,107.40 0.23% MR 1
92537GAA1 VERUS 2019-2 A1 FRN 5/25/2059 162,187 100.98 163,779.25 0.23% MR 1
096630AD0 BOARDWALK PIPELINES LP 4.95 12/15/2024 150,000 108.87 163,298.18 0.23% B 1
64828EAA3 NRZT 2019-NQM4 A1 FRN 9/25/2059 162,255 100.49 163,050.07 0.23% MR 1
36228F4R4 GSR 2004-7 3A1 FRN 6/25/2034 159,468 100.50 160,258.22 0.23% MR 1
83405AAA2 SCLP 2017-1 A 3.28 1/26/2026 156,156 100.31 156,635.98 0.22% MR 1
02528CAC6 ACAR 2019-1 B 3.32 4/12/2023 155,000 100.99 156,540.95 0.22% MR 1
00772BAR2 AERCAP IRELAND CAP/GLOBA 3.95 2/1/2022 150,000 103.51 155,262.87 0.22% FB 1
07332CAA5 BOMFT 2017-RT4 A FRN 7/28/2057 150,848 102.27 154,269.59 0.22% MR 1
BL2645325 00001 ILFC (Delos Finance) 3/18 Cov-L 10/06/23 Term Loan 153,300 100.52 154,097.93 0.22% TL 1
86359A5V1 SASC 2003-34A 6A FRN 11/25/2033 149,415 102.51 153,158.59 0.22% MR 1
06051GHB8 BANK OF AMERICA CORP FRN 2/5/2026 153,000 100.08 153,125.14 0.22% B 1
06051GBE8 BAFC 2004-A 5A1 FRN 7/20/2034 148,157 103.07 152,697.99 0.22% MR 1
14366LAA0 CNART 2019-1A A 2.72 11/15/2022 152,480 100.14 152,692.98 0.22% MR 1
46643UDJ5 JPMMT 2015-1 AM1 FRN 12/25/2044 150,866 101.12 152,562.65 0.22% MR 1
17324VAH7 CMLTI 2015-PS1 A1 FRN 9/25/2042 148,449 102.71 152,473.95 0.22% MR 1
05970FAC5 BANCO SANTANDER CHILE 2.7 1/10/2025 150,000 100.30 150,448.50 0.21% FB 1
32058NAJ2 FIAOT 2017-1A D 3.6 4/17/2023 145,000 101.76 147,546.03 0.21% MR 1
65341KBA3 NFMOT 2018-1A A2 3.22 2/15/2023 145,000 101.41 147,048.84 0.21% MR 1
BL3183086 00001 VIRGIN MEDIA 9/19 (USD) 01/31/28 TERM LOAN 145,000 100.60 145,870.73 0.21% TL 1
576434J39 MALT 2005-2 2A1 6 1/25/2035 134,598 107.41 144,573.63 0.20% MR 1
949458AA1 WLKRG 2015-AA A 2.79 6/16/2031 144,266 100.20 144,548.33 0.20% MR 1
21054PAB1 CLUB 2019-P2 A 2.47 10/15/2026 143,541 100.18 143,798.24 0.20% MR 1
03065MAF4 AMCAR 2015-4 C 2.88 7/8/2021 143,421 100.09 143,546.68 0.20% MR 1
85211XAA1 SHMLT 2019-SH1 A1 FRN 4/29/2049 141,602 101.01 143,031.01 0.20% MR 1
07324YAC3 BAYC 2006-2A A2 FRN 7/25/2036 147,209 97.04 142,858.81 0.20% MR 1
86933YAA4 SCML 2017-SBC6 A FRN 5/25/2037 140,416 100.58 141,224.04 0.20% MR 1
12597KAA7 COLT 2020-1 A1 FRN 2/25/2050 140,000 100.36 140,508.76 0.20% MR 1
152314LE8 CXHE 2004-D AF5 5.85 9/25/2034 138,082 101.34 139,932.53 0.20% MR 1
92537BAA2 VERUS 2018-3 A1 FRN 10/25/2058 133,214 101.48 135,179.83 0.19% MR 1
94981VAB3 WFMBS 2004-K 1A2 FRN 7/25/2034 134,845 100.12 135,006.21 0.19% MR 1
78471FAA0 SCLP 2016-3 A 3.05 12/26/2025 132,541 100.18 132,786.04 0.19% MR 1
042858AA8 ARRW 2019-2 A1 FRN 4/25/2049 130,219 101.74 132,485.60 0.19% MR 1
05946XPV9 BAFC 2005-1 1A1 5.5 2/25/2035 126,848 103.48 131,268.01 0.19% MR 1
21052NAA0 CLUB 2018-P2 A 3.47 10/15/2025 128,292 100.59 129,046.83 0.18% MR 1
12061AAA6 BHLD 2019-1 A1 3.613 10/26/2048 126,685 101.25 128,267.23 0.18% MR 1
68504TAA2 ONGLT 2015-AA A 2.88 9/8/2027 126,721 100.68 127,582.08 0.18% MR 1
86359BBS9 SASC 2003-37A 2A FRN 12/25/2033 121,373 103.75 125,929.27 0.18% MR 1
64828YAR2 NRZT 2014-2A A3 FRN 5/25/2054 118,783 104.05 123,589.24 0.18% MR 1
96033CAA0 WESTR 2016-1A A 3.5 12/20/2028 121,670 100.33 122,069.83 0.17% MR 1
55388PAB6 MVWOT 2015-1A B 2.96 12/20/2032 121,211 100.32 121,601.02 0.17% MR 1
03463TAA8 AOMT 2018-1 A1 FRN 4/27/2048 120,630 100.66 121,427.04 0.17% MR 1
19687VAA9 COLT 2018-2 A1 FRN 7/27/2048 118,940 100.65 119,717.73 0.17% MR 1
89178AAA4 TPHT 2019-HE1 A1 FRN 4/25/2048 118,599 100.25 118,895.75 0.17% MR 1
74362DAA6 PMIT 2019-3A A 3.19 7/15/2025 118,152 100.56 118,818.99 0.17% MR 1
900123AW0 REPUBLIC OF TURKEY 7.375 2/5/2025 105,000 112.54 118,169.94 0.17% FB 1
BL3112358 00001 CLEAR CHANNEL OUTDOOR HO 5.7656 08/21/26 TERM LOAN 109,725 100.79 110,593.47 0.16% TL 1
88033GCY4 TENET HEALTHCARE CORP 4.875 1/1/2026 105,000 103.72 108,906.00 0.15% B 1
20826JAB4 CONN 2018-A B 4.65 1/15/2023 107,963 100.60 108,605.80 0.15% MR 1
05367MAA5 AVID 2018-1 A 2.84 8/15/2023 107,612 100.15 107,776.33 0.15% MR 1
BL2870022 00001 NEXSTAR BROADCAS 09/21/2026 104,738 100.94 105,726.75 0.15% TL 1
635419AE4 NATCM 2008-1 2A1 6 3/25/2038 102,135 103.28 105,488.68 0.15% MR 1
91679KAA2 UPST 2019-1 A 3.45 4/20/2026 105,098 100.29 105,400.96 0.15% MR 1
505742AM8 LADDER CAP FIN LLLP/CORP 4.25 2/1/2027 105,000 98.88 103,818.75 0.15% B 1
42806DAH2 HERTZ 2015-3A A 2.67 9/25/2021 101,000 100.37 101,371.90 0.14% MR 1
36418GAU8 GFMT 2018-2 A41 FRN 10/25/2058 97,887 102.62 100,454.25 0.14% MR 1
466247K51 JPMMT 2006-A2 4A1 FRN 8/25/2034 93,958 105.00 98,657.90 0.14% MR 1
31573TAC2 EFMT 2019-2 A3 FRN 11/25/2059 97,789 100.67 98,441.38 0.14% MR 1
576436CN7 MASD 2005-3 A2 5.704 11/25/2035 96,472 100.99 97,431.06 0.14% MR 1
9292274D5 WAMU 2003-AR6 A1 FRN 6/25/2033 93,078 102.58 95,482.28 0.14% MR 1
64828JAA2 NRZT 2018-NQM1 A1 FRN 11/25/2048 93,295 101.78 94,957.91 0.13% MR 1
33843NAE1 FCAT 2016-2 B 3.84 9/15/2022 93,521 100.35 93,849.03 0.13% MR 1
83405XAA2 SCLP 2018-3 A1 3.2 8/25/2027 92,405 100.11 92,501.93 0.13% MR 1
744320AM4 PRUDENTIAL FINANCIAL INC FRN 6/15/2043 84,000 108.34 91,004.34 0.13% B 1
38061LAA7 GLDKR 2014-A A 3.22 3/17/2031 89,935 100.08 90,004.21 0.13% MR 1
22541Q2D3 CSFB 2003-AR30 5A1 FRN 1/25/2034 86,983 102.30 88,982.70 0.13% MR 1
92257LAB6 VCC 2017-1 AFX FRN 5/25/2047 85,879 99.89 85,784.99 0.12% MR 1
03463VAA3 AOMT 2018-2 A1 FRN 7/27/2048 84,533 101.45 85,757.75 0.12% MR 1
64829YAA8 NRZT 2019-NQM1 A1 FRN 1/25/2049 82,168 101.23 83,180.37 0.12% MR 1
12667FRY3 CWALT 2004-22CB 1A1 6 10/25/2034 79,049 102.96 81,388.83 0.12% MR 1
17288XAB0 CITADEL LP 4.875 1/15/2027 75,000 108.07 81,048.78 0.11% B 1
BL3117563 00001 ALBERTSON'S 10/18 B7 COV-LITE TERM LOAN 76,072 100.29 76,295.17 0.11% TL 1
893647BE6 TRANSDIGM INC 6.25 3/15/2026 70,000 107.69 75,381.18 0.11% B 1
12652BAB7 CPS 2017-D B 2.43 1/18/2022 75,000 100.05 75,037.94 0.11% MR 1
BL3108760 00001 KESTREL BIDCO INC 12/11/26 70,000 101.04 70,729.05 0.10% TL 1
45031UCG4 ISTAR INC 4.25 8/1/2025 70,000 100.97 70,679.00 0.10% B 1
24381FAC9 DRMT 2017-3A A3 FRN 10/25/2047 64,497 100.55 64,849.17 0.09% MR 1
92536MAC5 VERUS 2018-INV1 A3 FRN 3/25/2058 62,685 101.47 63,604.65 0.09% MR 1
151608AB2 CPF 2012-2A 1 2.61 8/20/2021 61,849 99.84 61,749.84 0.09% MR 1
05606VAA6 BXGNT 2013-A A 3.01 12/4/2028 61,017 99.89 60,950.57 0.09% MR 1
92536BAA3 VERUS 2017-1A A1 FRN 1/25/2047 58,571 100.40 58,806.07 0.08% MR 1
89114QCA4 TORONTO-DOMINION BANK 2.65 6/12/2024 57,000 103.09 58,762.78 0.08% FB 1
86359BNT4 SARM 2004-4 3A1 FRN 4/25/2034 52,604 104.80 55,129.99 0.08% MR 1
91678RAB6 UPST 2017-2 B 3.748 3/20/2025 54,195 100.16 54,282.11 0.08% MR 1
534187AU3 LINCOLN NATIONAL CORP FRN 4/20/2067 60,000 86.15 51,691.20 0.07% B 1
82967NBE7 SIRIUS XM RADIO INC 4.625 7/15/2024 45,000 104.58 47,062.58 0.07% B 1
939336J38 WAMMS 2003-AR4 2A1 FRN 8/25/2033 44,282 100.20 44,370.32 0.06% MR 1
94981VAY3 WFMBS 2004-K 2A12 FRN 7/25/2034 40,427 100.20 40,506.57 0.06% MR 1
04542BMU3 ABFC 2005-AQ1 A6 4.68979 1/25/2035 36,826 103.25 38,021.44 0.05% MR
07325VAC8 BAYV 2007-A 1A2 6.205 5/28/2037 35,992 99.90 35,956.89 0.05% MR
63938CAK4 NAVIENT CORP 5 3/15/2027 30,000 100.13 30,037.50 0.04% B
538034AR0 LIVE NATION ENTERTAINMEN 4.75 10/15/2027 25,000 104.54 26,134.25 0.04% B
35104VAB8 FCRT 2016-1 A2 2.87 10/15/2021 25,524 100.06 25,540.08 0.04% MR
22541SXJ2 CSFB 2004-AR8 6A1 FRN 9/25/2034 25,133 101.59 25,531.98 0.04% MR
BL3089549 00001 Genesee & Wyoming 12/26 Cov-Lit Term Loan 25,000 101.17 25,293.00 0.04% TL
BL2849315 00001 COMMSCOPE INC 04/06/26 TERM LOAN 24,938 100.67 25,105.08 0.04% TL
210805DS3 CONTL AIRLINES 1999-2 6.236 3/15/2020 15,075 100.40 15,135.43 0.02% B
BL2828715 00001 Select Medical Corp 03/06/25 Term Loan 14,981 100.83 15,105.37 0.02% TL
30166JAC9 EART 2017-1A B 3 12/15/2021 13,828 100.19 13,854.39 0.02% MR

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

Characteristics

As of 11/30/2019

MINC Sector Allocation

FUND

Fixed Income Attributes

As of 12/31/2019

_ MINC
Duration 1.83 years
Yield to Maturity 2.95
30-Day SEC Subsidized Yield 2.47%
30-Day SEC Unsubsidized Yield 2.38%

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 0.50%
Other Expenses 0.46%
Acquired Fund Fees 0.01%
Gross Expense Ratio 0.97%
Fee Waiver and/or Expense Reimbursement -0.21%
Net Expense Ratio 0.76%

Effective as of March 16, 2019, the management fee paid by the Fund to AdvisorShares Investments, LLC has been reduced from 0.65% to 0.50% of the Fund’s average daily net assets. The Advisor has contractually agreed to reduce its fees and/or reimburse expenses to keep net expenses (excluding amounts payable pursuant to any plan adopted in accordance with Rule 12b-1, interest expense, taxes, brokerage commissions, acquired fund fees and expenses, other expenditures which are capitalized in accordance with generally accepted accounting principles, and extraordinary expenses) from exceeding 0.75% of the Fund’s average daily net assets for at least one year from the date of the Prospectus

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) MINC
12/24/2020 12/28/2020 12/31/2020 - - - - - FORMULA
11/24/2020 11/25/2020 11/30/2020 - - - - - FORMULA
10/26/2020 10/27/2020 10/30/2020 - - - - - FORMULA
09/24/2020 09/25/2020 09/30/2020 - - - - - FORMULA
08/25/2020 08/26/2020 08/31/2020 - - - - - FORMULA
07/27/2020 07/28/2020 07/31/2020 - - - - - FORMULA
06/24/2020 06/25/2020 06/30/2020 - - - - - FORMULA
05/22/2020 05/26/2020 05/29/2020 - - - - - FORMULA
04/24/2020 04/27/2020 04/30/2020 - - - - - FORMULA
03/26/2020 03/27/2020 03/31/2020 - - - - - FORMULA
02/24/2020 02/25/2020 02/28/2020 - - - - - FORMULA
01/27/2020 01/28/2020 01/31/2020 - - - - - FORMULA
12/27/2019 12/30/2019 12/31/2019 $0.127970 $0.000000 $0.000000 $0.000000 $0.127970 VALUE
11/26/2019 11/27/2019 11/29/2019 $0.102970 $0.000000 $0.000000 $0.000000 $0.102970 VALUE
10/28/2019 10/29/2019 10/31/2019 $0.121710 $0.000000 $0.000000 $0.000000 $0.121710 VALUE
09/25/2019 09/26/2019 09/30/2019 $0.106880 $0.000000 $0.000000 $0.000000 $0.106880 VALUE
08/27/2019 08/28/2019 08/30/2019 $0.119360 $0.000000 $0.000000 $0.000000 $0.119360 VALUE
07/26/2019 07/29/2019 07/31/2019 $0.123400 $0.000000 $0.000000 $0.000000 $0.123400 VALUE
12/27/2019 12/30/2019 12/31/2019 $0.000000 $0.000000 $0.000000 $0.000000 $0.000000 VALUE
05/28/2019 05/29/2019 05/31/2019 $0.137300 $0.000000 $0.000000 $0.000000 $0.137300 VALUE
04/25/2019 04/26/2019 04/30/2019 $0.114600 $0.000000 $0.000000 $0.000000 $0.114600 VALUE
03/26/2019 03/27/2019 03/29/2019 $0.119300 $0.000000 $0.000000 $0.000000 $0.119300 VALUE
01/28/2019 01/29/2019 01/31/2019 $0.111260 $0.000000 $0.000000 $0.000000 $0.111260 VALUE
12/27/2018 12/28/2018 12/31/2018 $0.140510 $0.000000 $0.000000 $0.000000 $0.140510 VALUE
11/27/2018 11/28/2018 11/30/2018 $0.121160 $0.000000 $0.000000 $0.000000 $0.121160 VALUE
10/26/2018 10/29/2018 10/31/2018 $0.115210 $0.000000 $0.000000 $0.000000 $0.115210 VALUE
09/26/2018 09/27/2018 09/28/2018 $0.108830 $0.000000 $0.000000 $0.000000 $0.108830 VALUE
08/27/2018 08/28/2018 08/31/2018 $0.121190 $0.000000 $0.000000 $0.000000 $0.121190 VALUE
07/26/2018 07/27/2018 07/31/2018 $0.115350 $0.000000 $0.000000 $0.000000 $0.115350 VALUE
06/25/2018 06/26/2018 06/29/2018 $0.114380 $0.000000 $0.000000 $0.000000 $0.114380 VALUE
05/25/2018 05/29/2018 05/31/2018 $0.109790 $0.000000 $0.000000 $0.000000 $0.109790 VALUE
04/25/2018 04/26/2018 04/30/2018 $0.104700 $0.000000 $0.000000 $0.000000 $0.104700 VALUE
03/26/2018 03/27/2018 03/29/2018 $0.095030 $0.000000 $0.000000 $0.000000 $0.095030 VALUE
02/26/2018 02/27/2018 02/28/2018 $0.108500 $0.000000 $0.000000 $0.000000 $0.108500 VALUE
01/26/2018 01/29/2018 01/31/2018 $0.092000 $0.000000 $0.000000 $0.000000 $0.092000 VALUE
12/27/2017 12/28/2017 12/29/2017 $0.118770 $0.000000 $0.000000 $0.000000 $0.118770 VALUE
11/28/2017 11/29/2017 11/30/2017 $0.106580 $0.000000 $0.000000 $0.000000 $0.106580 VALUE
10/27/2017 10/30/2017 10/31/2017 $0.103030 $0.000000 $0.000000 $0.000000 $0.103030 VALUE
09/26/2017 09/27/2017 09/29/2017 $0.103360 $0.000000 $0.000000 $0.000000 $0.103360 VALUE
08/25/2017 08/29/2017 08/31/2017 $0.092930 $0.000000 $0.000000 $0.000000 $0.092930 VALUE
07/26/2017 07/28/2017 07/31/2017 $0.099450 $0.000000 $0.000000 $0.000000 $0.099450 VALUE
06/23/2017 06/28/2017 06/30/2017 $0.102540 $0.000000 $0.000000 $0.000000 $0.102540 VALUE
05/23/2017 05/26/2017 05/31/2017 $0.100580 $0.000000 $0.000000 $0.000000 $0.100580 VALUE
04/21/2017 04/26/2017 04/28/2017 $0.101160 $0.000000 $0.000000 $0.000000 $0.101160 VALUE
03/24/2017 03/28/2017 03/31/2017 $0.103650 $0.000000 $0.000000 $0.000000 $0.103650 VALUE
02/23/2017 02/27/2017 02/28/2017 $0.100240 $0.000000 $0.000000 $0.000000 $0.100240 VALUE
01/25/2017 01/27/2017 01/31/2017 $0.089100 $0.000000 $0.000000 $0.000000 $0.089100 VALUE
12/23/2016 12/28/2016 12/30/2016 $0.130700 $0.000000 $0.000000 $0.000000 $0.130700 VALUE
11/23/2016 11/28/2016 11/30/2016 $0.099600 $0.000000 $0.000000 $0.000000 $0.099600 VALUE
10/25/2016 10/27/2016 10/31/2016 $0.102400 $0.000000 $0.000000 $0.000000 $0.102400 VALUE
09/26/2016 09/28/2016 09/30/2016 $0.111000 $0.000000 $0.000000 $0.000000 $0.111000 VALUE
08/25/2016 08/29/2016 08/31/2016 $0.111100 $0.000000 $0.000000 $0.000000 $0.111100 VALUE
07/25/2016 07/27/2016 07/29/2016 $0.114300 $0.000000 $0.000000 $0.000000 $0.114300 VALUE
06/24/2016 06/28/2016 06/30/2016 $0.115800 $0.000000 $0.000000 $0.000000 $0.115800 VALUE
05/24/2016 05/26/2016 05/31/2016 $0.111800 $0.000000 $0.000000 $0.000000 $0.111800 VALUE
04/25/2016 04/27/2016 04/29/2016 $0.123900 $0.000000 $0.000000 $0.000000 $0.123900 VALUE
03/24/2016 03/29/2016 03/31/2016 $0.121700 $0.000000 $0.000000 $0.000000 $0.121700 VALUE
02/23/2016 02/25/2016 02/29/2016 $0.102900 $0.000000 $0.000000 $0.000000 $0.102900 VALUE
01/25/2016 01/27/2016 01/29/2016 $0.088300 $0.000000 $0.000000 $0.000000 $0.088300 VALUE
12/24/2015 12/29/2015 12/31/2015 $0.146700 $0.000000 $0.000000 $0.000000 $0.146700 VALUE
11/23/2015 11/25/2015 11/30/2015 $0.107300 $0.000000 $0.000000 $0.000000 $0.107300 VALUE
10/26/2015 10/28/2015 10/30/2015 $0.119200 $0.000000 $0.000000 $0.000000 $0.119200 VALUE
09/24/2015 09/28/2015 09/30/2015 $0.115900 $0.000000 $0.000000 $0.000000 $0.115900 VALUE
08/25/2015 08/27/2015 08/31/2015 $0.119600 $0.000000 $0.000000 $0.000000 $0.119600 VALUE
07/24/2015 07/28/2015 07/30/2015 $0.094200 $0.000000 $0.000000 $0.000000 $0.094200 VALUE
06/24/2015 06/26/2015 06/30/2015 $0.123000 $0.000000 $0.000000 $0.000000 $0.123000 VALUE
05/22/2015 05/27/2015 05/29/2015 $0.101100 $0.000000 $0.000000 $0.000000 $0.101100 VALUE
04/24/2015 04/28/2015 04/30/2015 $0.112400 $0.000000 $0.000000 $0.000000 $0.112400 VALUE
03/25/2015 03/27/2015 03/31/2015 $0.121500 $0.000000 $0.000000 $0.000000 $0.121500 VALUE
02/23/2015 02/25/2015 02/27/2015 $0.105100 $0.000000 $0.000000 $0.000000 $0.105100
01/26/2015 01/28/2015 01/30/2015 $0.079400 $0.000000 $0.000000 $0.000000 $0.079400
12/24/2014 12/29/2014 12/31/2014 $0.164000 $0.000000 $0.000000 $0.000000 $0.164000
11/21/2014 11/25/2014 11/28/2014 $0.095000 $0.000000 $0.000000 $0.000000 $0.095000
10/27/2014 10/29/2014 10/31/2014 $0.128000 $0.000000 $0.000000 $0.000000 $0.128000
09/24/2014 09/26/2014 09/30/2014 $0.114000 $0.000000 $0.000000 $0.000000 $0.114000
08/25/2014 08/27/2014 08/29/2014 $0.115000 $0.000000 $0.000000 $0.000000 $0.115000
07/25/2014 07/29/2014 07/31/2014 $0.114000 $0.000000 $0.000000 $0.000000 $0.114000
06/24/2014 06/26/2014 06/30/2014 $0.123000 $0.000000 $0.000000 $0.000000 $0.123000
05/23/2014 05/28/2014 05/30/2014 $0.097000 $0.000000 $0.000000 $0.000000 $0.097000
04/24/2014 04/28/2014 04/30/2014 $0.113000 $0.000000 $0.000000 $0.000000 $0.113000
03/25/2014 03/27/2014 03/31/2014 $0.111000 $0.000000 $0.000000 $0.000000 $0.111000
02/24/2014 02/26/2014 02/28/2014 $0.126000 $0.000000 $0.000000 $0.000000 $0.126000
01/27/2014 01/29/2014 01/31/2014 $0.095000 $0.000000 $0.000000 $0.000000 $0.095000
12/24/2013 12/27/2013 12/31/2013 $0.132000 $0.000000 $0.000000 $0.000000 $0.132000
11/22/2013 11/26/2013 11/29/2013 $0.109000 $0.000000 $0.000000 $0.000000 $0.109000
10/25/2013 10/29/2013 10/31/2013 $0.121000 $0.000000 $0.000000 $0.000000 $0.121000
09/24/2013 09/26/2013 09/30/2013 $0.106000 $0.000000 $0.000000 $0.000000 $0.106000
08/26/2013 08/28/2013 08/30/2013 $0.114000 $0.000000 $0.000000 $0.000000 $0.114000
07/25/2013 07/29/2013 07/31/2013 $0.109000 $0.000000 $0.000000 $0.000000 $0.109000
06/24/2013 06/26/2013 06/28/2013 $0.108000 $0.000000 $0.000000 $0.000000 $0.108000
05/24/2013 05/29/2013 05/31/2013 $0.093000 $0.000000 $0.000000 $0.000000 $0.093000
04/24/2013 04/26/2013 04/30/2013 $0.051000 $0.000000 $0.000000 $0.000000 $0.051000
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Contact Info

info@advisorshares.com
1.877.843.3831

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Location

AdvisorShares Investments, LLC
4800 Montgomery Lane,
Suite 150
Bethesda, Maryland 20814

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ETF Symbols

AADR, ACT, CWS, DBLV, DWAW, DWEQ, DWMC, DWSH, DWUS, FWDB, HDGE, HOLD, MINC, SCAP, VEGA, YOLO

Privacy
Copyright © AdvisorShares 2019 • Foreside Fund Services, LLC Distributor

  • 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.
  • 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. Emerging and foreign market investments can be more volatile than U.S. securities and will expose the Fund to adverse changes in foreign economic, political, regulatory and currency exchange rates. See prospectus for details regarding specific risks.

    Overall MINC Morningstar rating is derived from a weighted average of the fund’s 3-, 5-, and 10- year (if applicable) risk-adjusted returns as of 11/30/2019. Category consists of 490 funds in 3 year and 440 in 5 year. MINC received a 4 star rating in the 3 year and a 4 star in the 5 year.

    The Morningstar Rating™ for funds, or “star rating,” is calculated for managed products with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the bottom 10% receive one star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three- and five-year Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns.

    © 2019 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

  •  
  • Definitions
  •  
  • Yield to maturity describes the rate of return an investor will receive if a long-term, interest-bearing security, such as a bond, is held to its maturity date.