QPX: 3rd Quarter 2021 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/qpx.
The AdvisorShares Q Dynamic Growth ETF (QPX) finished behind its benchmark, the S&P 500 Index for the third quarter.
QPX was heavily weighted in large-cap stocks and the technology sector throughout the period, as this exposure has a much higher risk/reward characteristics than other segments of the market (per its model).
Concerns about China’s Evegrande impact, Chinese technology sell-offs and the gridlock in Washington, D.C. over the debt ceiling were contributing factors.
There were no risk-off rebalancing triggered by the QIX index, which saw its value fluctuate between 12.93 and 19.69, well below the rebalance trigger of 37.50.
The lion’s share of the portfolio exposure remains in large-cap growth stocks and the technology sector.
|Ticker||Security Description||Portfolio Weight %|
|QQQ||INVESCO QQQ TRUST SERIES 1||38.42%|
|XLK||TECHNOLOGY SELECT SECT SPDR||29.69%|
|FDN||FIRST TRUST DJ INTERNET IND||16.47%|
|VTI||VANGUARD TOTAL STOCK MKT ETF||5.14%|
|IWO||ISHARES RUSSELL 2000 GROWTH||4.23%|
|IJR||ISHARES CORE S&P SMALL-CAP E||3.22%|
As of 09.30.2021. Cash not included.
AdvisorShares Q Dynamic Growth ETF (QPX) Portfolio Manager