(MINC) NEWFLEET MULTI-SECTOR INCOME ETF

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.

Fund

Price History

As of 5/29/2020

NAV $47.55 Closing Price $47.68
Change $0.06 Close Change $0.51
Shares Outstanding 1,250,000 Volume 987
4PM Bid/Offer Midpoint $47.55 Premium Discount $0.00
Assets Under Management $59,438,151.72    

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 4/30/2020

NAV Market Price Return Bloomberg Capital Aggregate Bond Index BofA Merrill Lynch 1-5 Year US Corp & Govt Bond Index
1 Month 2.01 4.79 1.78 0.00
3 Months -2.75 -2.92 3.00 0.34
YTD -1.99 -2.05 4.98 0.47
1 Year 0.58 0.47 10.84 0.00
3 Years 1.65 1.64 5.17 0.34
5 Years 1.83 1.79 3.80 1.12
Since Inception (3/19/2013, Annualized) 1.89 1.86 3.41 0.79

As of 3/31/2020

NAV Market Price Return Bloomberg Capital Aggregate Bond Index BofA Merrill Lynch 1-5 Year US Corp & Govt Bond Index
1 Month -5.02 -7.57 -0.59 0.21
3 Months -3.92 -6.52 3.15 0.47
YTD -3.92 -6.52 3.15 0.47
1 Year -0.95 -3.73 8.93 2.08
3 Years 1.12 0.17 4.82 1.74
5 Years 1.48 0.89 3.36 1.12
Since Inception (3/19/2013, Annualized) 1.62 1.21 5.23 0.80

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 5/31/2020

Date Account Symbol Stock Ticker Security Number Security Shares Price Market Value Weight % Asset Group
05/31/2020 MINC 912828C57 US TREASURY N/B 2.25 3/31/2021 1,775,000.00 101.72 1,805,542.48 3.04% TN 1
9128286Y1 US TREASURY N/B 1.75 6/15/2022 1,715,000.00 103.25 1,770,670.51 2.98% TN 1
912828ZF0 US TREASURY N/B 0.5 3/31/2025 870,000.00 100.95 878,275.20 1.48% TN 1
78403DAK6 SBA TOWER TRUST 2.877 7/9/2021 780,000.00 100.57 784,480.40 1.32% B 1
HYG 464288513 ISHARES IBOXX HIGH YLD CORP 9,253.00 82.42 762,632.26 1.28% MF 1
32059BAE8 FIAOT 2017-2A B 2.65 11/15/2022 650,000.00 100.19 651,222.26 1.10% MR
12433UAG0 BX 2018-GW B FRN 5/15/2035 700,000.00 89.83 628,837.79 1.06% MR
31418DC67 FN MA3692 3.5 7/1/2049 514,845.86 105.48 543,065.78 0.91% FM
88642MAC4 TMCAT 2018-AA B 3.45 11/15/2024 525,000.00 100.44 527,334.73 0.89% MR
85572MAA8 SWH 2017-1 A FRN 1/17/2035 464,939.26 99.02 460,404.66 0.77% MR
35105DAE1 FCRT 2018-1 C 3.68 8/15/2023 445,000.00 102.74 457,199.50 0.77% MR
61746BDQ6 MORGAN STANLEY 3.875 4/29/2024 410,000.00 109.62 449,439.08 0.76% B
61746BEC6 MORGAN STANLEY FRN 10/24/2023 445,000.00 100.33 446,478.99 0.75% B
64829HAA5 NRZT 2016-3A A1 FRN 9/25/2056 422,775.57 103.20 436,304.56 0.73% MR
9128286B1 US TREASURY N/B 2.625 2/15/2029 365,000.00 117.34 428,283.30 0.72% TN
30167BAC5 EART 2018-2A C 3.69 3/15/2023 407,234.04 100.73 410,190.64 0.69% MR
46625HKK5 JPMORGAN CHASE & CO FRN 11/1/2168 430,000.00 92.21 396,496.55 0.67% B
96042GAJ1 WLAKE 2018-3A C 3.61 10/16/2023 380,000.00 101.61 386,106.30 0.65% MR
02529MAE9 ACAR 2018-4 C 3.97 1/13/2025 380,000.00 101.14 384,345.91 0.65% MR
46641YAN3 JPMMT 2014-2 AM FRN 6/25/2029 373,009.29 102.12 380,925.44 0.64% MR
02530AAE2 ACAR 2018-3 C 3.75 10/15/2024 377,503.96 100.42 379,100.46 0.64% MR
52603JAA8 LFT 2018-2A A 4.23 4/20/2027 390,000.00 96.88 377,821.16 0.64% MR
36166PAA6 GCAT 2019-NQM1 A1 STEP-CPN 2/25/2059 366,566.93 102.68 376,397.78 0.63% MR
68376VAA2 OPTN 2018-B A 3.91 7/8/2024 390,000.00 96.15 375,000.87 0.63% MR
12648HAK1 CSMC 2014-IVR2 A2 FRN 4/25/2044 349,405.80 104.03 363,502.65 0.61% MR
86359BHJ3 SASC 2004-4XS A3A STEP-CPN 2/25/2034 342,538.61 105.18 360,267.52 0.61% MR
69362BBC5 PSEG POWER LLC 3.85 6/1/2023 330,000.00 107.78 355,683.44 0.60% B
345397XQ1 FORD MOTOR CREDIT CO LLC 3.2 1/15/2021 360,000.00 98.73 355,410.00 0.60% B
06051GGJ2 BANK OF AMERICA CORP FRN 4/24/2023 345,000.00 99.66 343,841.56 0.58% B
02209SBB8 ALTRIA GROUP INC 3.8 2/14/2024 313,000.00 108.54 339,721.63 0.57% B
064058AD2 BANK OF NY MELLON CORP 4.95 PERPETL 12/20/2168 360,000.00 94.33 339,570.00 0.57% B
38141GWC4 GOLDMAN SACHS GROUP INC 3 4/26/2022 330,000.00 101.75 335,763.04 0.56% B
32057HAG2 FIAOT 2016-2A C 2.53 7/15/2022 330,640.33 100.23 331,387.87 0.56% MR
36416UAG0 GFMT 2017-1 A21 FRN 7/25/2056 320,823.13 102.42 328,583.84 0.55% MR
87165BAN3 SYNCHRONY FINANCIAL 4.375 3/19/2024 315,000.00 101.06 318,352.54 0.54% B
88161NAB5 TESLA 2018-B B 4.12 10/20/2021 310,000.00 101.28 313,964.59 0.53% MR
258258AA0 DORIC NIMROD AIR 2012-1A 5.125 11/30/2022 392,487.16 78.26 307,167.44 0.52% FB
89614SAB5 TAST 2018-2A B 4.76 2/15/2022 304,710.54 100.61 306,569.27 0.52% MR
501890AA5 LHOME 2019-RTL1 A1 STEP-CPN 10/25/2023 315,000.00 97.06 305,723.97 0.51% MR
90352VAB2 USAUT 2019-1A B 3.99 12/15/2022 305,000.00 100.12 305,375.33 0.51% MR
64829LAA6 NRZT 2016-4A A1 FRN 11/25/2056 293,309.68 103.92 304,806.77 0.51% MR
32059TAE9 FIAOT 2019-1A C 3.26 3/17/2025 305,000.00 99.21 302,576.78 0.51% MR
03066HAG2 AMCAR 2018-1 D 3.82 3/18/2024 285,000.00 102.78 292,926.14 0.49% MR
12592BAJ3 CNH INDUSTRIAL CAP LLC 4.2 1/15/2024 280,000.00 101.91 285,341.60 0.48% B
42806DBC2 HERTZ 2016-4A A 2.65 7/25/2022 295,000.00 96.14 283,608.84 0.48% MR
201736AC9 CMLBC 2001-CMLB A3 FRN 6/20/2031 279,202.06 100.21 279,778.61 0.47% MR
07331YAA8 BOMFT 2017-SPL4 A FRN 1/28/2055 271,013.27 101.57 275,259.53 0.46% MR
17320XAA2 CMLTI 2013-A A FRN 5/25/2042 288,594.23 95.36 275,190.10 0.46% MR
BL3246792 00001 CALPINE CORPORAT 01/15/24 Term Loan 279,615.51 98.25 274,722.24 0.46% TL
05606XAA2 BXGNT 2015-A A 2.88 5/2/2030 275,833.88 97.82 269,816.88 0.45% MR
92343VEP5 VERIZON COMMUNICATIONS FRN 5/15/2025 267,000.00 99.88 266,685.87 0.45% B
46644XAC6 JPMMT 2015-5 A2 FRN 5/25/2045 262,350.90 101.52 266,341.23 0.45% MR
709599BC7 PENSKE TRUCK LEASING/PTL 4.125 8/1/2023 250,000.00 105.78 264,439.91 0.44% B
03237JAB3 AXIS 2018-2A A2 3.89 7/20/2022 259,725.27 101.80 264,398.27 0.44% MR
120568BA7 BUNGE LTD FINANCE CORP 4.35 3/15/2024 245,000.00 107.74 263,962.43 0.44% B
05526DAV7 BAT CAPITAL CORP 2.764 8/15/2022 255,000.00 103.12 262,957.81 0.44% FB
45580KAJ7 IND & COMM BK CHINA/NY 2.957 11/8/2022 250,000.00 103.68 259,193.75 0.44% FB
96033WAA6 WESTR 2018-1A A 3.38 12/20/2031 265,081.79 97.69 258,958.88 0.44% MR
89171VAB3 TPMT 2015-5 A2 FRN 5/25/2055 250,000.00 103.53 258,812.73 0.44% MR
17322GAA7 CMLTI 2014-A A FRN 1/25/2035 245,168.13 104.72 256,730.19 0.43% MR
89690EAF4 TRMF 2017-1A A1 2.709 8/15/2047 256,539.13 99.99 256,510.32 0.43% MR
05584AAA8 HGVGI 2017-1A A 2.94 5/25/2029 260,543.65 97.07 252,899.51 0.43% MR
466247NT6 JPMMT 2005-A2 4A1 FRN 4/25/2035 268,042.21 94.13 252,302.93 0.42% MR
233293AQ2 DPL INC 4.35 4/15/2029 250,000.00 100.80 252,009.86 0.42% B
BL2701110 00001 VALEANT 06/02/25 TERM LOAN 255,893.80 98.27 251,461.72 0.42% TL
80282KAW6 SANTANDER HOLDINGS USA 3.5 6/7/2024 240,000.00 103.95 249,473.48 0.42% B
68268XAC5 ODART 2018-1A C 3.85 10/14/2025 250,000.00 99.52 248,797.53 0.42% MR
24380RAA8 DRMT 2019-1A A1 FRN 1/25/2059 248,457.43 99.94 248,320.01 0.42% MR
228227BE3 CROWN CASTLE INTL CORP 4.875 4/15/2022 230,000.00 106.97 246,025.30 0.41% B
05369AAC5 AVIATION CAPITAL GROUP 3.875 5/1/2023 306,000.00 80.07 245,025.44 0.41% B
92840VAD4 VISTRA OPERATIONS CO LLC 3.55 7/15/2024 235,000.00 102.35 240,525.99 0.40% B
26209WAF0 DRIVE 2019-3 C 2.9 8/15/2025 240,000.00 100.22 240,518.54 0.40% MR
35634BAB1 FREED 2018-2 B 4.61 10/20/2025 250,000.00 95.72 239,287.88 0.40% MR
36258XAB6 GCAR 2020-1A B 2.43 11/15/2024 245,000.00 97.54 238,981.26 0.40% MR
36255XAC7 GCAR 2018-3A C 4.18 7/15/2024 235,000.00 99.72 234,337.84 0.39% MR
62854AAN4 MYLAN NV 3.95 6/15/2026 215,000.00 108.95 234,240.88 0.39% B
BL2552414 00001 INEOS US FINANCE 04/01/24 Term Loan 243,239.52 96.25 234,118.04 0.39% TL
92537FAA3 VERUS 2019-INV1 A1 FRN 12/25/2059 224,367.51 101.75 228,289.50 0.38% MR
247126AJ4 APTIV CORP 4.15 3/15/2024 215,000.00 105.58 227,004.07 0.38% B
455780BQ8 REPUBLIC OF INDONESIA 5.875 1/15/2024 200,000.00 112.84 225,687.00 0.38% FB
205887CA8 CONAGRA BRANDS INC 4.3 5/1/2024 200,000.00 110.42 220,833.09 0.37% B
30161NAW1 EXELON CORP 3.497 6/1/2022 212,000.00 104.07 220,617.85 0.37% B
05492MAC9 BCCFC 2019-1A B 2.64 9/20/2024 220,000.00 99.97 219,926.74 0.37% MR
43789AAA2 HOF 2018-1 A1 FRN 6/25/2048 216,616.54 101.34 219,517.01 0.37% MR
23343JAE6 DTAOT 2019-4A C 2.73 7/15/2025 220,000.00 99.65 219,233.85 0.37% MR
43789EAA4 HOF 2019-1 A1 FRN 1/25/2059 216,632.01 101.15 219,114.98 0.37% MR
30167GAE0 EART 2019-4A C 2.44 9/16/2024 220,000.00 99.35 218,559.20 0.37% MR
36258AAB6 GCAR 2019-3A B 2.72 6/17/2024 220,000.00 99.33 218,515.46 0.37% MR
96042FAF1 WLAKE 2018-2A D 4 1/16/2024 215,000.00 101.30 217,796.51 0.37% MR
68267DAA4 OMFIT 2019-1A A 3.48 2/14/2031 215,000.00 101.28 217,756.60 0.37% MR
172967LH2 CITIGROUP INC FRN 4/25/2022 215,000.00 100.19 215,416.25 0.36% B
74727PBC4 STATE OF QATAR 3.4 4/16/2025 200,000.00 106.92 213,849.80 0.36% FB
85208NAD2 SPRINT SPECTRUM / SPEC I 4.738 3/20/2025 200,000.00 106.36 212,729.00 0.36% B
35040UAA9 FFIN 2017-1A A 3.3 7/15/2033 210,755.30 100.73 212,297.28 0.36% MR
23343GAE2 DTAOT 2019-1A C 3.61 11/15/2024 210,000.00 100.59 211,242.32 0.36% MR
17323MAA3 CMLTI 2015-A A1 FRN 6/25/2058 204,400.29 102.95 210,424.95 0.35% MR
22411XAD6 CPS 2018-D D 4.34 9/16/2024 210,000.00 100.18 210,367.50 0.35% MR
12510FAC8 CCG 2019-2 B 2.55 3/15/2027 210,000.00 99.84 209,659.44 0.35% MR
80282KAT3 SANTANDER HOLDINGS USA 3.7 3/28/2022 205,000.00 102.24 209,588.77 0.35% B
836205AR5 REPUBLIC OF SOUTH AFRICA 5.875 9/16/2025 200,000.00 104.64 209,270.00 0.35% FB
12625GAC8 CNOOC FINANCE 2013 LTD 3 5/9/2023 200,000.00 103.97 207,934.00 0.35% FB
30312JAB4 FREED 2019-2 B 3.19 11/18/2026 220,000.00 94.43 207,738.92 0.35% MR
05401AAF8 AVOLON HOLDINGS FNDG LTD 3.95 7/1/2024 249,000.00 82.66 205,823.61 0.35% FB
90945QAD3 UACST 2019-1 D 3.47 8/12/2024 205,000.00 99.70 204,380.12 0.34% MR
00969DAA8 AJAXM 2017-B A FRN 9/25/2056 204,466.74 99.23 202,901.36 0.34% MR
303394AA8 FSIT 2020-AA A 2.9 9/20/2024 210,000.00 96.62 202,899.50 0.34% MR
33843FAE8 FCAT 2020-1 C 2.24 1/15/2026 210,000.00 96.44 202,526.08 0.34% MR
02530DAC0 ACAR 2019-2 C 3.17 6/12/2025 205,000.00 98.34 201,599.79 0.34% MR
03969AAN0 ARDAGH PKG FIN/HLDGS USA 4.125 8/15/2026 200,000.00 100.58 201,159.00 0.34% B
67098AAC3 OBX 2019-INV1 A3 FRN 11/25/2048 192,159.08 104.14 200,110.74 0.34% MR
411707AB8 HNGRY 2018-1A A2I 4.25 6/20/2048 201,925.00 98.18 198,241.89 0.33% MR
07386HJG7 BALTA 2004-5 3A1 FRN 6/25/2034 203,262.56 97.53 198,234.84 0.33% MR
55389PAA7 MVWOT 2019-1A A 2.89 11/20/2036 199,547.85 98.93 197,406.14 0.33% MR
20268CAA6 CBSLT 2019-AGS A1 2.54 1/25/2047 189,430.57 103.38 195,826.92 0.33% MR
14040HBK0 CAPITAL ONE FINANCIAL CO 3.75 7/28/2026 190,000.00 102.55 194,837.70 0.33% B
036752AJ2 ANTHEM INC 2.375 1/15/2025 185,000.00 105.25 194,709.03 0.33% B
BL2702969 00001 ARAMARK SERVICES 03/28/24 Term Loan 202,309.87 95.85 193,914.01 0.33% TL
576434QC1 MALT 2004-4 6A1 5.5 4/25/2034 183,799.55 104.41 191,914.23 0.32% MR
962178AN9 TRI POINTE GROUP / HOMES 5.875 6/15/2024 190,000.00 100.96 191,820.68 0.32% B
900123AW0 REPUBLIC OF TURKEY 7.375 2/5/2025 185,000.00 103.64 191,734.00 0.32% FB
04010LAU7 ARES CAPITAL CORP 3.5 2/10/2023 195,000.00 98.01 191,122.41 0.32% B
038370AC6 AQFIT 2019-A C 4.01 7/16/2040 195,000.00 97.60 190,313.70 0.32% MR
854502AM3 STANLEY BLACK & DECKER I 4 3/15/2060 190,000.00 99.33 188,736.43 0.32% B
78471WAB1 SCLP 2018-2 A2 3.35 4/26/2027 186,765.30 100.72 188,118.27 0.32% MR
46641YAJ2 JPMMT 2014-2 2A2 FRN 6/25/2029 182,150.58 102.64 186,960.56 0.31% MR
36258YBL1 GSMS 2020-GC45 AS 3.1731 2/13/2053 175,000.00 106.13 185,727.38 0.31% MR
233331AW7 DTE ENERGY CO 2.529 10/1/2024 179,000.00 103.47 185,206.13 0.31% B
55400DAA9 MVWOT 2019-2A A 2.22 10/20/2038 190,797.30 96.76 184,608.47 0.31% MR
63938CAB4 NAVIENT CORP 5.875 10/25/2024 200,000.00 92.19 184,377.00 0.31% B
42824CBE8 HP ENTERPRISE CO 2.25 4/1/2023 180,000.00 102.26 184,064.22 0.31% B
78432BAA7 SGR 2019-3 A1 FRN 9/25/2059 180,402.44 100.07 180,532.11 0.30% MR
BL2385591 00001 Cablevision Systems 3/17 Cov-Li 07/17/25 Term Loan 184,513.68 96.65 178,332.47 0.30% TL
30166EAG1 EART 2018-4A D 4.35 9/16/2024 175,000.00 101.87 178,267.08 0.30% MR
87342RAC8 BELL 2016-1A A23 4.97 5/25/2046 169,750.00 104.79 177,880.84 0.30% MR
66977WAP4 NOVA CHEMICALS CORP 5 5/1/2025 200,000.00 88.76 177,521.00 0.30% FB
65489MAB0 NMEF 2019-A B 3.06 8/17/2026 175,000.00 100.60 176,052.99 0.30% MR
76119MAA7 RMLT 2019-1 A1 FRN 10/25/2058 174,594.95 100.43 175,341.45 0.29% MR
749389AA0 RCKT 2020-1 A1 FRN 2/25/2050 170,867.93 101.65 173,679.15 0.29% MR
22534BAA2 CAALT 2018-1A A 3.01 2/16/2027 172,575.78 100.41 173,287.03 0.29% MR
038370AA0 AQFIT 2019-A A 3.14 7/16/2040 173,579.79 99.63 172,942.91 0.29% MR
71654QCD2 PETROLEOS MEXICANOS 4.625 9/21/2023 180,000.00 95.76 172,376.10 0.29% FB
83085DAC9 SKOP 2019-1A C 3.63 9/16/2024 180,000.00 95.69 172,250.50 0.29% MR
38141EB81 GOLDMAN SACHS GROUP INC FRN 11/29/2023 170,000.00 100.70 171,189.07 0.29% B
12597JAC6 CPS 2020-A C 2.54 12/15/2025 175,000.00 97.77 171,096.10 0.29% MR
38141GVX9 GOLDMAN SACHS GROUP INC FRN 10/28/2027 170,000.00 100.03 170,054.40 0.29% B
36418HAA0 GFMT 2020-H1 A1 FRN 1/25/2060 168,352.07 100.07 168,470.25 0.28% MR
44106MAS1 SERVICE PROPERTIES TRUST 4.65 3/15/2024 195,000.00 86.28 168,248.50 0.28% B
86359BGQ8 SARM 2004-1 6A FRN 2/25/2034 176,372.27 94.91 167,390.19 0.28% MR
92535TAD9 VERUS 2018-2 B1 FRN 6/1/2058 180,000.00 92.61 166,692.08 0.28% MR
48283PAE1 KABB 2019-1 A 3.825 3/15/2024 200,000.00 82.48 164,968.80 0.28% MR
74937LAA4 RCO 2019-1 A1 STEP-CPN 5/24/2024 174,840.23 94.25 164,781.78 0.28% MR
49456BAB7 KINDER MORGAN INC 5.625 11/15/2023 145,000.00 112.64 163,334.65 0.27% B
68504UAB7 ONGLT 2019-A B 3.36 4/9/2038 172,095.98 94.64 162,869.04 0.27% MR
48128BAG6 JPMORGAN CHASE & CO 4.6 PERPETL 8/1/2168 182,000.00 89.00 161,970.90 0.27% B
91678WAA7 UPST 2019-3 A 2.684 1/21/2030 163,508.29 98.34 160,793.84 0.27% MR
33938XAC9 FLEX LTD 3.75 2/1/2026 155,000.00 103.26 160,046.69 0.27% B
17326QAA1 CMLTI 2018-RP1 A1 FRN 9/25/2064 152,928.73 103.28 157,951.70 0.27% MR
928563AD7 VMWARE INC 4.5 5/15/2025 145,000.00 108.28 157,010.33 0.26% B
92872KAA5 VOLT 2019-NPL2 A1 STEP-CPN 2/25/2049 161,068.13 97.15 156,477.45 0.26% MR
57110AAA2 MFT 2019-4A A 2.39 12/17/2029 157,096.14 99.53 156,350.80 0.26% MR
02528CAC6 ACAR 2019-1 B 3.32 4/12/2023 155,000.00 100.79 156,228.36 0.26% MR
43800KAA5 HOF 2019-3 A1 FRN 11/25/2059 152,972.19 101.15 154,733.82 0.26% MR
252722AB9 DROT 2019-1A B 3.53 2/20/2032 160,548.60 95.42 153,197.27 0.26% MR
05970FAC5 BANCO SANTANDER CHILE 2.7 1/10/2025 150,000.00 101.59 152,385.00 0.26% FB
BL3292648 00001 TransDigm inc 08/22/24 Term Loan 165,352.58 91.79 151,779.61 0.26% TL
36228FPE0 GSR 2003-3F 1A6 6 4/25/2033 144,283.00 104.81 151,218.16 0.25% MR
595017AQ7 MICROCHIP TECHNOLOGY INC 2.67 9/1/2023 150,000.00 100.63 150,947.95 0.25% B
24703DAY7 DELL INT LLC / EMC CORP 4 7/15/2024 145,000.00 104.01 150,812.59 0.25% B
11135FAT8 BROADCOM INC 3.15 11/15/2025 145,000.00 103.94 150,715.25 0.25% B
57109HAA0 MFT 2019-2A A 3.13 7/16/2029 150,309.39 100.12 150,488.95 0.25% MR
06051GHB8 BANK OF AMERICA CORP FRN 2/5/2026 153,000.00 96.25 147,265.23 0.25% B
BL2645325 00001 ILFC (Delos Finance) 3/18 Cov-L 10/06/23 Term Loan 153,300.00 96.00 147,168.77 0.25% TL
03236TAG1 AXIS 2018-1A A2 3.24 12/20/2023 145,530.96 100.59 146,393.93 0.25% MR
32058NAJ2 FIAOT 2017-1A D 3.6 4/17/2023 145,000.00 100.85 146,225.26 0.25% MR
096630AD0 BOARDWALK PIPELINES LP 4.95 12/15/2024 150,000.00 97.14 145,703.06 0.25% B
65341KBA3 NFMOT 2018-1A A2 3.22 2/15/2023 145,000.00 100.35 145,503.15 0.24% MR
67113AAP5 OBX 2019-EXP3 1A8 FRN 10/25/2059 141,498.52 102.15 144,534.02 0.24% MR
949803AA8 WFMBS 2004-U A1 FRN 10/25/2034 144,787.94 99.80 144,496.76 0.24% MR
20049AAE8 COMM 2020-CBM B 3.099 2/10/2037 150,000.00 94.32 141,481.88 0.24% MR
00772BAR2 AERCAP IRELAND CAP/GLOBA 3.95 2/1/2022 150,000.00 94.23 141,349.07 0.24% FB
BL3183086 00001 VIRGIN MEDIA 9/19 (USD) 01/31/28 TERM LOAN 145,000.00 97.25 141,012.50 0.24% TL
92537GAA1 VERUS 2019-2 A1 FRN 5/25/2059 138,961.55 100.80 140,072.56 0.24% MR
07332CAA5 BOMFT 2017-RT4 A FRN 7/28/2057 135,787.69 102.06 138,582.47 0.23% MR
683715AC0 OPEN TEXT CORP 3.875 2/15/2028 140,000.00 98.98 138,578.30 0.23% FB
12647JBJ0 CSMC 2013-HYB1 A16 FRN 4/25/2043 135,295.34 101.86 137,814.78 0.23% MR
06051GBE8 BAFC 2004-A 5A1 FRN 7/20/2034 145,427.63 94.76 137,811.90 0.23% MR
30165YAC7 EART 2017-3A B 2.81 9/15/2022 137,332.54 100.33 137,785.20 0.23% MR
BL2694554 BL3355403 135,000.00 100.13 135,168.75 0.23% TL
369604BQ5 GENERAL ELECTRIC CO 5 PERPETL 6/15/2168 175,000.00 76.91 134,588.13 0.23% B
92259LAB4 VCC 2020-1 AFX FRN 2/25/2050 137,025.08 97.75 133,941.08 0.23% MR
86359A5V1 SASC 2003-34A 6A FRN 11/25/2033 141,322.82 93.61 132,297.94 0.22% MR
67576TAA7 OCTL 2019-1A A 3.16 9/20/2023 131,753.57 100.34 132,196.45 0.22% MR
17324VAH7 CMLTI 2015-PS1 A1 FRN 9/25/2042 128,329.59 102.57 131,624.52 0.22% MR
12597KAA7 COLT 2020-1 A1 FRN 2/25/2050 130,114.32 100.94 131,341.58 0.22% MR
37045VAV2 GENERAL MOTORS CO 6.125 10/1/2025 120,000.00 109.24 131,085.59 0.22% B
916780AA7 UPST 2019-2 A 2.897 9/20/2029 132,973.90 98.03 130,350.68 0.22% MR
576434J39 MALT 2005-2 2A1 6 1/25/2035 122,395.87 105.09 128,629.80 0.22% MR
52532XAC9 LEIDOS INC 3.625 5/15/2025 119,000.00 107.79 128,273.67 0.22% B
152314LE8 CXHE 2004-D AF5 STEP-CPN 9/25/2034 122,925.40 101.38 124,626.05 0.21% MR
949458AA1 WLKRG 2015-AA A 2.79 6/16/2031 126,026.46 98.84 124,569.66 0.21% MR
07324YAC3 BAYC 2006-2A A2 FRN 7/25/2036 135,662.68 89.56 121,500.19 0.20% MR
95000U2R3 WELLS FARGO & COMPANY 1.654 6/2/2024 120,000.00 100.39 120,466.77 0.20% B
04685A2M2 ATHENE GLOBAL FUNDING 2.8 5/26/2023 120,000.00 100.39 120,465.26 0.20% B
00085MAA7 ACC 2019-1 A 3.75 5/20/2022 119,858.60 100.23 120,131.71 0.20% MR
36228F4R4 GSR 2004-7 3A1 FRN 6/25/2034 124,781.49 95.59 119,283.32 0.20% MR
042858AA8 ARRW 2019-2 A1 FRN 4/25/2049 115,878.84 102.26 118,503.00 0.20% MR
92537BAA2 VERUS 2018-3 A1 FRN 10/25/2058 116,203.70 101.94 118,455.69 0.20% MR
410345AN2 HANESBRANDS INC 5.375 5/15/2025 115,000.00 102.75 118,162.50 0.20% B
86933YAA4 SCML 2017-SBC6 A FRN 5/25/2037 115,530.27 100.42 116,018.15 0.20% MR
808513BD6 CHARLES SCHWAB CORP 5.375 PERPETL 9/1/2168 109,000.00 106.20 115,752.55 0.19% B
14366LAA0 CNART 2019-1A A 2.72 11/15/2022 114,806.22 100.22 115,053.74 0.19% MR
05946XPV9 BAFC 2005-1 1A1 5.5 2/25/2035 114,078.06 100.82 115,018.63 0.19% MR
74142RAA2 PRET 2019-NPL3 A1 STEP-CPN 7/27/2059 122,297.64 93.57 114,428.57 0.19% MR
85211XAA1 SHMLT 2019-SH1 A1 FRN 4/29/2049 113,355.23 100.47 113,889.71 0.19% MR
50077LBA3 KRAFT HEINZ FOODS CO 3.875 5/15/2027 105,000.00 105.14 110,393.59 0.19% B
64828YAR2 NRZT 2014-2A A3 FRN 5/25/2054 105,778.99 103.54 109,521.60 0.18% MR
94981VAB3 WFMBS 2004-K 1A2 FRN 7/25/2034 108,465.27 99.71 108,152.92 0.18% MR
88033GCY4 TENET HEALTHCARE CORP 4.875 1/1/2026 105,000.00 102.93 108,073.88 0.18% B
68504TAA2 ONGLT 2015-AA A 2.88 9/8/2027 109,543.77 98.21 107,588.00 0.18% MR
21054PAB1 CLUB 2019-P2 A 2.47 10/15/2026 105,718.27 99.84 105,546.89 0.18% MR
86359BBS9 SASC 2003-37A 2A FRN 12/25/2033 110,043.75 94.76 104,282.87 0.18% MR
55388PAB6 MVWOT 2015-1A B 2.96 12/20/2032 106,709.57 97.36 103,891.31 0.17% MR
BL3112358 00001 CLEAR CHANNEL OUTDOOR HO 5.7656 08/21/26 TERM LOAN 109,175.00 93.40 101,969.45 0.17% TL
05351WAC7 AVANGRID INC 3.2 4/15/2025 93,000.00 107.11 99,613.49 0.17% B
89178AAA4 TPHT 2019-HE1 A1 FRN 4/25/2048 101,285.67 98.09 99,350.78 0.17% MR
42806DAH2 HERTZ 2015-3A A 2.67 9/25/2021 101,000.00 96.61 97,580.96 0.16% MR
BL2870022 00001 NEXSTAR BROADCAS 09/21/2026 100,865.63 96.73 97,564.30 0.16% TL
96033CAA0 WESTR 2016-1A A 3.5 12/20/2028 95,056.64 99.54 94,621.54 0.16% MR
94974BFY1 WELLS FARGO & COMPANY 4.1 6/3/2026 85,000.00 109.67 93,220.94 0.16% B
30161MAS2 EXELON GENERATION CO LLC 3.25 6/1/2025 85,000.00 103.64 88,090.55 0.15% B
505742AM8 LADDER CAP FIN LLLP/CORP 4.25 2/1/2027 105,000.00 83.81 88,003.13 0.15% B
31573TAC2 EFMT 2019-2 A3 FRN 11/25/2059 88,122.18 99.76 87,911.13 0.15% MR
744320AM4 PRUDENTIAL FINANCIAL INC 5.625 6/15/2043 84,000.00 103.70 87,110.52 0.15% B
19687VAA9 COLT 2018-2 A1 FRN 7/27/2048 85,429.47 100.71 86,034.82 0.14% MR
635419AE4 NATCM 2008-1 2A1 6 3/25/2038 84,099.90 100.98 84,919.99 0.14% MR
9292274D5 WAMU 2003-AR6 A1 FRN 6/25/2033 84,772.32 97.75 82,860.85 0.14% MR
22541Q2D3 CSFB 2003-AR30 5A1 FRN 1/25/2034 77,546.81 101.98 79,079.05 0.13% MR
36418GAU8 GFMT 2018-2 A41 FRN 10/25/2058 76,397.19 102.40 78,229.80 0.13% MR
74362DAA6 PMIT 2019-3A A 3.19 7/15/2025 78,416.65 99.24 77,818.57 0.13% MR
17288XAB0 CITADEL LP 4.875 1/15/2027 75,000.00 101.78 76,337.15 0.13% B
38061LAA7 GLDKR 2014-A A 3.22 3/17/2031 76,315.69 99.94 76,272.52 0.13% MR
466247K51 JPMMT 2006-A2 4A1 FRN 8/25/2034 76,143.95 99.95 76,108.40 0.13% MR
83405AAA2 SCLP 2017-1 A 3.28 1/26/2026 75,380.43 100.02 75,398.45 0.13% MR
21052NAA0 CLUB 2018-P2 A 3.47 10/15/2025 74,658.94 100.16 74,779.90 0.13% MR
918204BA5 VF CORP 2.4 4/23/2025 71,000.00 104.03 73,859.94 0.12% B
893647BE6 TRANSDIGM INC 6.25 3/15/2026 70,000.00 102.48 71,738.80 0.12% B
097023CU7 BOEING CO 5.04 5/1/2027 67,000.00 106.35 71,252.07 0.12% B
576436CN7 MASD 2005-3 A2 STEP-CPN 11/25/2035 69,290.70 100.71 69,782.84 0.12% MR
BL3288513 00001 CENTURYLINK INC 03/15/27 Term Loan 64,812.50 96.33 62,432.59 0.11% TL
64829YAA8 NRZT 2019-NQM1 A1 FRN 1/25/2049 62,186.05 100.02 62,199.99 0.10% MR
45031UCG4 ISTAR INC 4.25 8/1/2025 70,000.00 87.94 61,556.25 0.10% B
89114QCA4 TORONTO-DOMINION BANK 2.65 6/12/2024 57,000.00 106.66 60,793.85 0.10% FB
05367MAA5 AVID 2018-1 A 2.84 8/15/2023 60,641.01 100.01 60,644.52 0.10% MR
097023BG9 BOEING CO 2.35 10/30/2021 60,000.00 100.26 60,153.10 0.10% B
20826JAB4 CONN 2018-A B 4.65 1/15/2023 60,308.05 97.96 59,079.22 0.10% MR
BL3291848 00001 SS&C TECHNOLOGIES INC 04/16/25 Term Loan 60,000.00 97.24 58,346.40 0.10% TL
BL3294347 00001 INGERSOLL-RAND SERVICES 03/01/27 Term Loan 60,000.00 95.31 57,187.50 0.10% TL
92536MAC5 VERUS 2018-INV1 A3 FRN 3/25/2058 53,697.72 98.95 53,135.40 0.09% MR
80284TAK1 SDART 2017-1 C 2.58 5/16/2022 52,034.23 100.07 52,072.27 0.09% MR
BL3108760 00001 KESTREL BIDCO INC 12/11/26 69,825.00 74.56 52,063.27 0.09% TL
05606VAA6 BXGNT 2013-A A 3.01 12/4/2028 52,514.30 98.15 51,544.87 0.09% MR
097023CT0 BOEING CO 4.875 5/1/2025 45,000.00 106.28 47,823.96 0.08% B
BL3294107 00001 STATION CASINOS LLC 02/08/27 TERM LOAN 49,673.88 94.64 47,012.85 0.08% TL
92257LAB6 VCC 2017-1 AFX FRN 5/25/2047 47,042.13 99.76 46,930.32 0.08% MR
82967NBE7 SIRIUS XM RADIO INC 4.625 7/15/2024 45,000.00 102.65 46,192.73 0.08% B
24381FAC9 DRMT 2017-3A A3 FRN 10/25/2047 45,709.89 100.65 46,006.46 0.08% MR
BL3315480 00001 SCIENCE APPLICATIONS 03/12/27 Term Loan 45,849.59 98.00 44,932.60 0.08% TL
443201AA6 HOWMET AEROSPACE INC 6.875 5/1/2025 40,000.00 106.36 42,544.58 0.07% B
57164PAG1 MARRIOTT OWNERSHIP RESOR 6.125 9/15/2025 40,000.00 103.25 41,300.00 0.07% B
534187AU3 LINCOLN NATIONAL CORP FRN 4/20/2067 60,000.00 67.58 40,550.70 0.07% B
BL2694554 00001 BL3355403 40,000.00 100.13 40,050.00 0.07% TL
92536BAA3 VERUS 2017-1A A1 FRN 1/25/2047 39,175.17 99.59 39,013.62 0.07% MR
94981VAY3 WFMBS 2004-K 2A12 FRN 7/25/2034 37,661.77 99.74 37,563.37 0.06% MR
78471FAA0 SCLP 2016-3 A 3.05 12/26/2025 36,595.79 99.64 36,465.32 0.06% MR
939336J38 WAMMS 2003-AR4 2A1 FRN 8/25/2033 31,728.71 96.70 30,682.01 0.05% MR
156700BC9 CENTURYLINK INC 4 2/15/2027 30,000.00 100.03 30,009.75 0.05% B
63938CAK4 NAVIENT CORP 5 3/15/2027 30,000.00 85.81 25,743.75 0.04% B
BL3089549 00001 Genesee & Wyoming 12/26 Cov-Lit Term Loan 25,000.00 98.18 24,544.63 0.04% TL
BL2849315 00001 COMMSCOPE INC 04/06/26 TERM LOAN 24,875.00 96.41 23,981.12 0.04% TL
538034AR0 LIVE NATION ENTERTAINMEN 4.75 10/15/2027 25,000.00 92.98 23,245.38 0.04% B
22541SXJ2 CSFB 2004-AR8 6A1 FRN 9/25/2034 20,302.13 100.61 20,425.08 0.03% MR
33843NAE1 FCAT 2016-2 B 3.84 9/15/2022 20,356.76 100.1 20,378.09 0.03% MR
BL3290246 00001 REYNOLDS CONSUMER PRODUC 02/04/27 TERM LOAN 20,000.00 98.4 19,679.20 0.03% TL
95081QAN4 WESCO DISTRIBUTION INC 7.125 6/15/2025 15,000.00 100 15,000.00 0.03% B
BL3362664 00001 ARISTOCRAT 10/19/24 TERM LOAN 15,000.00 99.75 14,962.50 0.03% TL
BL3111475 00001 NCR CORP 08/28/26 Term Loan 15,000.00 97 14,550.00 0.02% TL
BL3128180 Elanco 02/04/27 Term Loan 15,000.00 97 14,550.00 0.02% TL
BL2828715 00001 Select Medical Corp 03/06/25 Term Loan 14,980.51 97 14,531.09 0.02% TL
151608AB2 CPF 2012-2A 1 2.61 8/20/2021 13,893.34 99.8 13,865.42 0.02% MR
88033GDE7 TENET HEALTHCARE CORP 7.5 4/1/2025 10,000.00 109.5 10,950.00 0.02% B
36242DSS3 GSAA 2005-1 AF4 STEP-CPN 11/25/2034 3,645.21 100.1 3,648.70 0.01% MR
BL3112358 00002 CLEAR CHANNEL OUTDOOR HO 5.7656 08/21/26 TERM LOAN 275.00 93.4 256.85 0.00% TL
X9USDJPMR JP MORGAN USD GOVT MONEY MARKET INSTL 1,469,052.67 1 1,469,052.67 2.47% MM
CASH 671,569.40 100 671,569.40 1.13% 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

Characteristics

As of 4/30/2020

MINC Sector Allocation

FUND

Fixed Income Attributes

As of 4/30/2020

_ MINC
Duration 1.86 years
Yield to Maturity 3.77
30-Day SEC Subsidized Yield 2.85%
30-Day SEC Unsubsidized Yield 2.71%

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 0.50%
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
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 $0.08932 $0.00000 $0.00000 $0.00000 $0.08932 VALUE
04/24/2020 04/27/2020 04/30/2020 $0.01695 $0.00000 $0.00000 $0.00000 $0.01695 VALUE
03/26/2020 03/27/2020 03/31/2020 $0.11998 $0.00000 $0.00000 $0.00000 $0.11998 VALUE
02/24/2020 02/25/2020 02/28/2020 $0.09928 $0.00000 $0.00000 $0.00000 $0.09928 VALUE
01/27/2020 01/28/2020 01/31/2020 $0.08848 $0.00000 $0.00000 $0.00000 $0.08848 VALUE
12/27/2019 12/30/2019 12/31/2019 $0.12797 $0.00000 $0.00000 $0.00000 $0.12797 VALUE
11/26/2019 11/27/2019 11/29/2019 $0.10297 $0.00000 $0.00000 $0.00000 $0.10297 VALUE
10/28/2019 10/29/2019 10/31/2019 $0.12171 $0.00000 $0.00000 $0.00000 $0.12171 VALUE
09/25/2019 09/26/2019 09/30/2019 $0.10688 $0.00000 $0.00000 $0.00000 $0.10688 VALUE
08/27/2019 08/28/2019 08/30/2019 $0.11936 $0.00000 $0.00000 $0.00000 $0.11936 VALUE
07/26/2019 07/29/2019 07/31/2019 $0.12340 $0.00000 $0.00000 $0.00000 $0.12340 VALUE
06/25/2019 06/26/2019 06/28/2019 $0.10640 $0.00000 $0.00000 $0.00000 $0.10640 VALUE
05/28/2019 05/29/2019 05/31/2019 $0.13730 $0.00000 $0.00000 $0.00000 $0.13730 VALUE
04/25/2019 04/26/2019 04/30/2019 $0.11460 $0.00000 $0.00000 $0.00000 $0.11460 VALUE
03/26/2019 03/27/2019 03/29/2019 $0.11930 $0.00000 $0.00000 $0.00000 $0.11930 VALUE
02/27/2019 02/26/2019 02/28/2019 $0.11269 $0.00000 $0.00000 $0.00000 $0.11269 VALUE
01/28/2019 01/29/2019 01/31/2019 $0.11126 $0.00000 $0.00000 $0.00000 $0.11126 VALUE
12/27/2018 12/28/2018 12/31/2018 $0.14051 $0.00000 $0.00000 $0.00000 $0.14051 VALUE
11/27/2018 11/28/2018 11/30/2018 $0.12116 $0.00000 $0.00000 $0.00000 $0.12116 VALUE
10/26/2018 10/29/2018 10/31/2018 $0.11521 $0.00000 $0.00000 $0.00000 $0.11521 VALUE
09/26/2018 09/27/2018 09/28/2018 $0.10883 $0.00000 $0.00000 $0.00000 $0.10883 VALUE
08/27/2018 08/28/2018 08/31/2018 $0.12119 $0.00000 $0.00000 $0.00000 $0.12119 VALUE
07/26/2018 07/27/2018 07/31/2018 $0.11535 $0.00000 $0.00000 $0.00000 $0.11535 VALUE
06/25/2018 06/26/2018 06/29/2018 $0.11438 $0.00000 $0.00000 $0.00000 $0.11438 VALUE
05/25/2018 05/29/2018 05/31/2018 $0.10979 $0.00000 $0.00000 $0.00000 $0.10979 VALUE
04/25/2018 04/26/2018 04/30/2018 $0.10470 $0.00000 $0.00000 $0.00000 $0.10470 VALUE
03/26/2018 03/27/2018 03/29/2018 $0.09503 $0.00000 $0.00000 $0.00000 $0.09503 VALUE
02/26/2018 02/27/2018 02/28/2018 $0.10850 $0.00000 $0.00000 $0.00000 $0.10850 VALUE
01/26/2018 01/29/2018 01/31/2018 $0.09200 $0.00000 $0.00000 $0.00000 $0.09200 VALUE
12/27/2017 12/28/2017 12/29/2017 $0.11877 $0.00000 $0.00000 $0.00000 $0.11877 VALUE
11/28/2017 11/29/2017 11/30/2017 $0.10658 $0.00000 $0.00000 $0.00000 $0.10658 VALUE
10/27/2017 10/30/2017 10/31/2017 $0.10303 $0.00000 $0.00000 $0.00000 $0.10303 VALUE
09/26/2017 09/27/2017 09/29/2017 $0.10336 $0.00000 $0.00000 $0.00000 $0.10336 VALUE
08/25/2017 08/29/2017 08/31/2017 $0.09293 $0.00000 $0.00000 $0.00000 $0.09293 VALUE
07/26/2017 07/28/2017 07/31/2017 $0.09945 $0.00000 $0.00000 $0.00000 $0.09945 VALUE
06/23/2017 06/28/2017 06/30/2017 $0.10254 $0.00000 $0.00000 $0.00000 $0.10254 VALUE
05/23/2017 05/26/2017 05/31/2017 $0.10058 $0.00000 $0.00000 $0.00000 $0.10058 VALUE
04/21/2017 04/26/2017 04/28/2017 $0.10116 $0.00000 $0.00000 $0.00000 $0.10116 VALUE
03/24/2017 03/28/2017 03/31/2017 $0.10365 $0.00000 $0.00000 $0.00000 $0.10365 VALUE
02/23/2017 02/27/2017 02/28/2017 $0.10024 $0.00000 $0.00000 $0.00000 $0.10024 VALUE
01/25/2017 01/27/2017 01/31/2017 $0.08910 $0.00000 $0.00000 $0.00000 $0.08910 VALUE
12/23/2016 12/28/2016 12/30/2016 $0.13070 $0.00000 $0.00000 $0.00000 $0.13070 VALUE
11/23/2016 11/28/2016 11/30/2016 $0.09960 $0.00000 $0.00000 $0.00000 $0.09960 VALUE
10/25/2016 10/27/2016 10/31/2016 $0.10240 $0.00000 $0.00000 $0.00000 $0.10240 VALUE
09/26/2016 09/28/2016 09/30/2016 $0.11100 $0.00000 $0.00000 $0.00000 $0.11100 VALUE
08/25/2016 08/29/2016 08/31/2016 $0.11110 $0.00000 $0.00000 $0.00000 $0.11110 VALUE
07/25/2016 07/27/2016 07/29/2016 $0.11430 $0.00000 $0.00000 $0.00000 $0.11430 VALUE
06/24/2016 06/28/2016 06/30/2016 $0.11580 $0.00000 $0.00000 $0.00000 $0.11580 VALUE
05/24/2016 05/26/2016 05/31/2016 $0.11180 $0.00000 $0.00000 $0.00000 $0.11180 VALUE
04/25/2016 04/27/2016 04/29/2016 $0.12390 $0.00000 $0.00000 $0.00000 $0.12390 VALUE
03/24/2016 03/29/2016 03/31/2016 $0.12170 $0.00000 $0.00000 $0.00000 $0.12170 VALUE
02/23/2016 02/25/2016 02/29/2016 $0.10290 $0.00000 $0.00000 $0.00000 $0.10290 VALUE
01/25/2016 01/27/2016 01/29/2016 $0.08830 $0.00000 $0.00000 $0.00000 $0.08830 VALUE
12/24/2015 12/29/2015 12/31/2015 $0.14670 $0.00000 $0.00000 $0.00000 $0.14670 VALUE
11/23/2015 11/25/2015 11/30/2015 $0.10730 $0.00000 $0.00000 $0.00000 $0.10730 VALUE
10/26/2015 10/28/2015 10/30/2015 $0.11920 $0.00000 $0.00000 $0.00000 $0.11920 VALUE
09/24/2015 09/28/2015 09/30/2015 $0.11590 $0.00000 $0.00000 $0.00000 $0.11590 VALUE
08/25/2015 08/27/2015 08/31/2015 $0.11960 $0.00000 $0.00000 $0.00000 $0.11960 VALUE
07/24/2015 07/28/2015 07/30/2015 $0.09420 $0.00000 $0.00000 $0.00000 $0.09420 VALUE
06/24/2015 06/26/2015 06/30/2015 $0.12300 $0.00000 $0.00000 $0.00000 $0.12300 VALUE
05/22/2015 05/27/2015 05/29/2015 $0.10110 $0.00000 $0.00000 $0.00000 $0.10110 VALUE
04/24/2015 04/28/2015 04/30/2015 $0.11240 $0.00000 $0.00000 $0.00000 $0.11240 VALUE
03/25/2015 03/27/2015 03/31/2015 $0.12150 $0.00000 $0.00000 $0.00000 $0.12150 VALUE
02/23/2015 02/25/2015 02/27/2015 $0.10510 $0.00000 $0.00000 $0.00000 $0.10510
01/26/2015 01/28/2015 01/30/2015 $0.07940 $0.00000 $0.00000 $0.00000 $0.07940
12/24/2014 12/29/2014 12/31/2014 $0.16400 $0.00000 $0.00000 $0.00000 $0.16400
11/21/2014 11/25/2014 11/28/2014 $0.09500 $0.00000 $0.00000 $0.00000 $0.09500
10/27/2014 10/29/2014 10/31/2014 $0.12800 $0.00000 $0.00000 $0.00000 $0.12800
09/24/2014 09/26/2014 09/30/2014 $0.11400 $0.00000 $0.00000 $0.00000 $0.11400
08/25/2014 08/27/2014 08/29/2014 $0.11500 $0.00000 $0.00000 $0.00000 $0.11500
07/25/2014 07/29/2014 07/31/2014 $0.11400 $0.00000 $0.00000 $0.00000 $0.11400
06/24/2014 06/26/2014 06/30/2014 $0.12300 $0.00000 $0.00000 $0.00000 $0.12300
05/23/2014 05/28/2014 05/30/2014 $0.09700 $0.00000 $0.00000 $0.00000 $0.09700
04/24/2014 04/28/2014 04/30/2014 $0.11300 $0.00000 $0.00000 $0.00000 $0.11300
03/25/2014 03/27/2014 03/31/2014 $0.11100 $0.00000 $0.00000 $0.00000 $0.11100
02/24/2014 02/26/2014 02/28/2014 $0.12600 $0.00000 $0.00000 $0.00000 $0.12600
01/27/2014 01/29/2014 01/31/2014 $0.09500 $0.00000 $0.00000 $0.00000 $0.09500
12/24/2013 12/27/2013 12/31/2013 $0.13200 $0.00000 $0.00000 $0.00000 $0.13200
11/22/2013 11/26/2013 11/29/2013 $0.10900 $0.00000 $0.00000 $0.00000 $0.10900
10/25/2013 10/29/2013 10/31/2013 $0.12100 $0.00000 $0.00000 $0.00000 $0.12100
09/24/2013 09/26/2013 09/30/2013 $0.10600 $0.00000 $0.00000 $0.00000 $0.10600
08/26/2013 08/28/2013 08/30/2013 $0.11400 $0.00000 $0.00000 $0.00000 $0.11400
07/25/2013 07/29/2013 07/31/2013 $0.10900 $0.00000 $0.00000 $0.00000 $0.10900
06/24/2013 06/26/2013 06/28/2013 $0.10800 $0.00000 $0.00000 $0.00000 $0.10800
05/24/2013 05/29/2013 05/31/2013 $0.09300 $0.00000 $0.00000 $0.00000 $0.09300
04/24/2013 04/26/2013 04/30/2013 $0.05100 $0.00000 $0.00000 $0.00000 $0.05100
    • 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. 
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  • Definitions
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  • 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.