PSIL: 1st Quarter 2022 Portfolio Review
Performance data quoted represents past performance and is no guarantee of future results. 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. For the fund’s most recent standardized and month-end performance, please click www.advisorshares.com/etfs/psil.
The AdvisorShares Psychedelics ETF (NYSE: PSIL) just launched with an inception date of September 15, 2021. In the past quarter (Q1 of 2022), the Fund had a loss of -32.32% on its net asset value (NAV) and -33.33% on its market price. PSIL also had losses in its few months of existence in 2021.
Performance has struggled, but the Fund’s overall performance is tied to the success of the very new, small and volatile psychedelics industry which includes biotech, pharmaceutical and mental health companies. While short term performance of these stocks has been down rather dramatically, we remain bullish on the longer-term prospects of being “early” investors in this rapidly developing industry.
The Fund did not add any new positions in the past quarter, nor completely remove any positions from the Fund. As the stocks it holds are highly volatile, we are continuously managing the Fund and attempt to add value at times by adding to positions or trimming to maintain certain position sizes.
Contributors / Detractors
With negative performance for the Fund, virtually all holdings were down for the quarter. One bright spot was Numinus Wellness (OTC: NUMIF) as it gained at least a little bit, up 1.13% in 3 months. Among the Fund’s largest holdings, Cybin (NYSE American: CYBN) was down -31.23%, ATAI Life Sciences (NASDAQ: ATAI) was down -33.29%, Field Trip Health (NASDAQ: FTRP) lost -45.47%, and Mind Medicine (NASDAQ: MNMD) lost -41.67.
|Ticker||Security Description||Portfolio Weight %|
|MNMD||MIND MEDICINE MINDMED INC||10.23%|
|CMPS||COMPASS PATHWAYS PLC||9.56%|
|ATAI||ATAI LIFE SCIENCES NV||8.68%|
|FTRP||FIELD TRIP HEALTH LTD||6.76%|
|GBNH||GREENBROOK TMS INC||5.53%|
|NUMIF||NUMINUS WELLNESS INC||5.10%|
|DMTTF||SMALL PHARMA INC||5.06%|
|GHRS||GH RESEARCH PLC||5.03%|
|DRUG||BRIGHT MINDS BIOSCIENCES INC||4.46%|
As of 03.31.2022. Cash is not included. Subject to change.
Please see our complete Fund holdings at advisorshares.com/etfs/psil. The holdings details are updated each market day.