NAV as of 10/4/2022
$19.79
1 Day NAV Change as of 10/4/2022
$0.33
| Symbol | Exchange | Inception Date | CUSIP | Indicative NAV |
|---|---|---|---|---|
| QPT | NYSE Arca | 12/28/2020 | 00768Y 446 | QPT.NV |
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<strong>About The ETF</strong>
<strong>About Q Methodology™</strong>
<strong>About the Q Implied Volatility Index™ (QIX)</strong>
<strong>Why Invest in QPT?</strong>
- Better Math: Better Management – Recognizing the flaws in Modern Portfolio Theory and other bell curve or Gaussian-based analysis, Q Methodology™ focuses on heavy-tail risk models in an effort to more accurately represent the frequency and impact of more severe losses in financial markets and to optimize risk accordingly.
- Potential Risk Solution – Q Methodology™ uses modern financial theory and computing power to analyze tens of thousands of potential portfolio simulations and uncover which offers the highest expected return based on a pre-determined level of risk.
- Flexible Unconstrained Portfolio – Utilizes a broad range of asset classes to optimally balance and avoid risk concentration in the portfolio.
- Fulcrum Fee Structure – The portfolio manager’s compensation is directly tied to the portfolio’s performance. Stronger outperformance is rewarded with a larger management fee while weak or underperformance is penalized with a smaller management fee.
- Tactical Defense Overlay – QPT seeks to participate in equity market upside while potentially limiting downside exposure caused by unusual market volatility. When QIX is high, QPT will move to a defensive fixed income allocation. Once QIX returns to normal levels, QPT will return to its balanced equity and fixed income-focused risk-optimized portfolio allocation.
<strong>Where Can QPT Fit in a Traditional Portfolio?</strong>
<strong>Key Attributes</strong>
- Quantitative Management Process – QPT removes the emotion from the investment process by using a disciplined, repeatable quantitative process, Q Methodology™, to manage the portfolio.
- Optimized Risk/Reward Portfolio – QPT targets historical expected drawdown periods of a typical balanced fund and optimizes its portfoli o using Q Methodology™ to identify the best risk/reward characteristics.
- Operational & Tax Efficiency – QPT’s ETF structure allows for diverse asset class and security exposure in a single trade, as well as operational and tax efficiencies.
- Defense Trigger – When triggered, QPT’s portfolio will tactically allocate to a more defensive portfolio and seek short-term fixed income returns until market volatility returns to normal.
<strong>About the Portfolio Manager</strong>
Ron Piccinini, Ph.D, Chief Investment Officer of ThinkBetter, LLC
Mr. Piccinini’s expertise is in quantitative analysis and business strategy. He wrote his dissertation on heavy-tailed distributions using neural networks in 2004. Mr. Piccinini developed and refined the Q Methodology™, a proprietary heavy tails risk analysis program used in the construction and ongoing management of QPT. He is also the author of the Q Implied Volatility Index ™ (QIX), which is used to measure market volatility and indicate trigger points for defensive portfolio positioning. He co-founded Prairie Smarts, LLC in 2012, a cloud-based risk analytics company that was eventually acquired in 2017 by Covisum. Mr. Piccinini earned a master’s degree from Strasbourg University and holds a Doctorate in Finance from the University of Nebraska-Lincoln. He has worked in various positions related to risk estimation and financial management systems since 2005, including at TD Ameritrade, First National Nebraska, Inc., and First National Bank of Omaha.
QPT Overview from Ron Piccinini
Get an introduction to the QPT ETF directly from the portfolio manager, Ron Piccinini.
QPT Overview from Ron Piccinini
Get an introduction to the QPT ETF directly from the portfolio manager, Ron Piccinini.
Fund
Price History
Fund Data
10/4/2022| NAV | $19.79 |
| Change | $0.33 |
| Shares Outstanding | 100,000 |
| Assets Under Management | $1,979,325.93 |
Market Data
10/3/2022| Closing Price | $19.44 |
| Close Change | $0.37 |
| Volume | 2 |
Regulatory Data
10/4/2022| Premium Discount | $-0.010 |
| 30-Day Median bid-ask Spread | 0 |
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
QPT Asset Allocation
FUND
Performance
As of 8/31/2022
| NAV | Market Price Return | 60% S&P 500 Index/40% Bloomberg Barclays U.S. Aggregate Bond Index | |
|---|---|---|---|
| 1 Month | -4.63 | -4.56 | -3.58 |
| 3 Months | -4.15 | -4.16 | -3.03 |
| YTD | -22.32 | -22.29 | -13.85 |
| 1 Year | -21.77 | -21.78 | -11.07 |
| Since Inception (12/28/2020, Annualized) | -9.88 | -9.87 | 0.14 |
As of 6/30/2022
| NAV | Market Price Return | 60% S&P 500 Index/40% Bloomberg Barclays U.S. Aggregate Bond Index | |
|---|---|---|---|
| 1 Month | -5.75 | -5.76 | -5.58 |
| 3 Months | -16.82 | -16.84 | -11.63 |
| YTD | -23.61 | -23.59 | -16.11 |
| 1 Year | -19.83 | -19.81 | -10.24 |
| Since Inception (12/28/2020, Annualized) | -11.91 | -11.91 | -1.61 |
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.
The S&P 500 Index is a broad-based, unmanaged measurement of changes in stock market conditions based on the average of 500 widely held common stocks. The Bloomberg Barclays U.S. Agg Bond TR USD Index is an unmanaged index considered representative of the performance of the U.S. investment grade bond market. One cannot invest directly in an index.
Effective 8/4/2021, the funds strategy was changed to incorporate a defensive allocation trigger, measured by the QIX index. See prospectus for details.
| Date | Account Symbol | Stock Ticker | Security Number | Security Description | Shares/Par (Full) | Price (Base) | Traded Market Value (Base) | Portfolio Weight % | Asset Group |
|---|---|---|---|---|---|---|---|---|---|
| 10/04/2022 | QPT | TLT | 464287432 | ISHARES 20+ YEAR TREASURY BO | 5,435.00 | 103.54 | 562,739.90 | 28.43% | MF |
| QQQ | 46090E103 | INVESCO QQQ TRUST SERIES 1 | 1,627.00 | 282.13 | 459,025.51 | 23.19% | MF | ||
| XLK | 81369Y803 | TECHNOLOGY SELECT SECT SPDR | 2,792.00 | 126.57 | 353,383.44 | 17.85% | MF | ||
| IYW | 464287721 | iShares USTechnology ETF | 2,580.00 | 78.33 | 202,091.40 | 10.21% | MF | ||
| BND | 921937835 | VANGUARD TOTAL BOND MARKET | 1,420.00 | 71.95 | 102,169.00 | 5.16% | MF | ||
| GLD | 78463V107 | SPDR GOLD SHARES | 580 | 160.7 | 93,206.00 | 4.71% | MF | ||
| BLV | 921937793 | VANGUARD LONG-TERM BOND ETF | 1,124.00 | 73.12 | 82,186.88 | 4.15% | MF | ||
| SHY | 464287457 | ISHARES 1-3 YEAR TREASURY BO | 849 | 81.31 | 69,032.19 | 3.49% | MF | ||
| X9USDFIIN | FIDELITY INSTL MMKT GOVT 57 | 91,853.30 | 1 | 91,853.30 | 4.64% | MM | |||
| CASH | -36,426.16 | 100 | -36,426.16 | -1.84% | CA |
FUND
Documents
FUND
Fees & Expenses
| Management Fee | 0.74% |
| Other Expenses | 2.85% |
| Acquired Fund Fees | 0.20% |
| Gross Fund Fees | 3.79% |
| Fee Waiver/Expense Reimbursement | -2.60% |
| Net Expense Ratio | 1.19% |
The management fee above reflects the base fee. Actual management fees may be higher or lower depending on the Fund’s performance compared to its performance benchmark and can range from 0.64% to 0.84%. The Advisor has contractually agreed to waive 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 0.99% of the Fund’s average daily net assets for at least one year from the date of this Prospectus.
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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.
- Investing Involves Risk Including possible loss of principal.
- There is no guarantee the Advisors investment strategy will be successful. When models and data prove to be incorrect or incomplete, any decisions made in reliance thereon expose the Fund to potential risks. In addition, the use of predictive models has inherent risk. Because predictive models are usually constructed based on historical data supplied by third parties, the success of relying on such models may depend heavily on the accuracy and reliability of the supplied historical data. The Fund’s particular allocations may have a significant effect on the Fund’s performance. Allocation risk is the risk that the selection of ETFs and the allocation of assets among such ETFs will cause the Fund to underperform other funds with a similar investment objective that do not allocate their assets in the same manner or the market as a whole. For a list of the asset class specific risks please see the prospectus.
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- Definitions
- Tail risk is the possibility of an investment’s return moving significantly beyond expectations (i.e., more than three standard deviations from its mean). Expected drawdown is the maximum peak to trough capital loss over a full market cycle (as measured from January 2006 to March 2020).
- Expected drawdown is the maximum peak to trough capital loss over a full market cycle (as measured from January 2006 to March 2020).
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