(YOLO) ADVISORSHARES PURE CANNABIS ETF

YOLO

Overview

Cannabis and its various applications have been used throughout human civilization for over 5,000 years. As society, business and regulatory landscapes evolve in the 21st century, the upside potential of cannabis as an emerging investment avenue has arrived. The portfolio manager believes today’s new era can be viewed in similar regard to post-Prohibition, commencing a growing acknowledgement and understanding of cannabis and its uses among a mainstream audience. The industries that comprise the multi-billion dollar cannabis universe represent a new frontier, where proper caution and due diligence must be exercised surrounding its regulations and risks, in seeking attractive long-term cannabis investment opportunities.

The AdvisorShares Pure Cannabis ETF (Ticker: YOLO) became the first actively managed ETF with a dedicated cannabis investment mandate domiciled in the United States. The AdvisorShares Pure Cannabis ETF, or YOLO, seeks long-term capital appreciation by investing in both domestic and foreign cannabis equity securities. YOLO is designed to fully-invest for pure cannabis exposure under the guidance of a deeply experienced portfolio management team navigating the emerging cannabis marketplace.

Symbol Exchange Inception Date CUSIP Indicative Value Options
YOLO NYSE Arca 4/17/2019 00768Y495 YOLO.IV Available
<strong>Why Invest in YOLO?</strong>
  • Long-Term Upside Potential – The emergence of select cannabis securities and their long-term growth potential adds a compelling element for investors seeking pure cannabis exposure and a potential high-growth complement to a broad-based equity allocation.
  • First Active ETF with Dedicated Cannabis Exposure – YOLO became the first actively managed ETF with dedicated cannabis exposure available in the U.S., which carries inherent advantages. YOLO can adjust its portfolio more quickly than a passive index-based strategy – an important attribute in a rapidly evolving cannabis marketplace that can witness fluctuations and changes among tradeable equities and an influx of new stock issues.
  • Experienced Portfolio Management Team – YOLO’s portfolio management team carries deep experience in the capital markets and a well-established expertise of investing in highly-regulated areas in the equity markets including cannabis. Their risk management and selective approach is an essential feature of YOLO, which does not blindly invest by following a market-cap-weighted index like other cannabis-related ETF offerings.
<strong>Where Can YOLO Fit in a Traditional Portfolio?</strong>

YOLO can deliver an alpha-seeking, high-growth complement or satellite equity holding to a broad-based equity allocation. YOLO can be used as a buy-and-hold strategy for investors seeking dedicated cannabis exposure for an equity portfolio.

<strong>Key Attributes</strong>
  1. Dedicated Cannabis Exposure Including Consumer Product Companies – The portfolio manager allocates across a universe of investable cannabis companies primarily in the U.S. and Canada engaging in legal business that span different industries, including those specializing in consumer products.
  2. Emerging Growth Opportunity – Cannabis securities span multiple industries including agriculture, biotechnology, pharmaceutical, real estate, retail, finance, and other medical applications. The portfolio manager believes that an evolving landscape of select, cannabis-related companies may provide upside potential that may lead to attractive growth opportunities.
  3. Merger & Acquisition Potential – Due to their emerging growth opportunity, companies involved in legal cannabis-related business both in the U.S. and Canada may benefit from potential merger and acquisition activity as the market matures and evolves.
<strong>About the Portfolio Managers</strong>

Dan Ahrens, Portfolio Manager
Mr. Ahrens is a Managing Director and the Chief Operating Officer of AdvisorShares. He is the portfolio manager of the Pure US Cannabis ETF (ticker: MSOS) – the first ETF to offer US-exclusive cannabis exposure – the Pure Cannabis ETF (ticker: YOLO), and the Vice ETF (ticker: VICE).

He carries over two decades of experience in the financial services industry serving in a variety of senior-level capacities and is the author of Investing in Cannabis (Wiley, 2020) and Investing in Vice (St. Martin’s Press, 2004). Additionally, Mr. Ahrens has appeared on numerous financial programs including CNBC, CNN, Fox Business, ABC News and Bloomberg and has been featured, along with funds under his management in major national and trade publications including The Economist, the New York Times, Financial Times, and The Wall Street Journal.

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YOLO

Fund

Price History

As of 10/14/2021

NAV $15.83 Closing Price $15.81
Change $-0.04 Close Change $0.00
Shares Outstanding 15,095,000 Volume 117181
4PM Bid/Offer Midpoint $15.81 Premium Discount $-0.02
Assets Under Management $238,991,019.18 30-Day Median bid-ask Spread 0.4761905
Premium/Discount Historical Data | NAV Historical Data | Daily Premium/Discount 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 8/31/2021

  NAV Market Price Return S&P 500
1 Month -5.21 -5.39 3.04
3 Months -14.45 -14.44 7.95
YTD 5.6 5.23 21.58
1 Year 45.37 43.92 31.17
Since Inception (04/17/2019, Annualized) -10.17 -10.29 22.74

As of 6/30/2021

NAV Market Price Return S&P 500
1 Month 0.62 0.96 2.33
3 Months -10.12 -10.58 8.55
YTD 24.21 24.16 15.25
1 Year 109.96 109.35 40.79
Since Inception (04/17/2019, Annualized) -4.09 -4.1 21.7

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

Excel    CSV

Date Account Symbol Stock Ticker Security Number Security Description Shares/Par (Full) Price (Base) Traded Market Value (Base) Portfolio Weight % Asset Group
10/14/2021 YOLO IIPR 45781V101 INNOVATIVE INDUSTRIAL PROPER 163,518.00 242.84 39,708,711.12 16.67% S
VFF 92707Y108 VILLAGE FARMS INTERNATIONAL 4,469,953.00 8.11 36,251,318.83 15.22% FS
TCNNF TCNNFFFS TRULIEVE CANNABIS SWAP REC 983,615.00 27.1 26,660,884.58 11.20% TW
GTBIF GTBIFTRS GREEN THUMB INDUSTRIES SWAP REC 720,000.00 24.23 17,445,952.80 7.33% TW
CURLF CURLFTRS CURALEAF HOLDINGS INC SWAP REC 1,495,000.00 10.8 16,146,000.00 6.78% TW
CRLBF CRLBFTRS CRESCO LABS INC SWAP REC 1,519,523.00 8.3 12,612,040.90 5.30% TW
TLRY 88688T100 TILRAY INC-CLASS 2 COMMON 1,064,206.00 10.39 11,057,100.34 4.64% S
CGC 138035100 CANOPY GROWTH CORP 742,628.00 13.7 10,174,003.60 4.27% FS
GRWG 39986L109 GROWGENERATION CORP 461,584.00 22.01 10,159,463.84 4.27% S
CCHWF CCHWFTRS COLUMBIA CARE INC SWAP REC 2,740,282.00 3.53 9,673,195.46 4.06% TW
SOLCF SOLCFFFS SOL GLOBAL INVESTMENTS CORP SWAP REC 3,434,625.00 2.75 9,445,218.75 3.97% TW
TRSSF TRSSFFFS TERRASCEND CORP SWAP REC 1,300,000.00 5.99 7,787,000.00 3.27% TW
RIV BMFBP84 RIV CAPITAL INC 5,097,660.00 1.26 6,432,118.41 2.70% FS
CRDL BHZT969 CARDIOL THERAPEUTICS INC-A 1,012,354.00 3.86 3,905,794.14 1.64% FS
VLNS BKMPJ38 VALENS CO INC/THE 1,810,155.00 1.67 3,030,712.06 1.27% FS
JAZZ G50871105 JAZZ PHARMACEUTICALS PLC 21,002.00 137.21 2,881,684.42 1.21% FS
CWEB BGHY2B1 CHARLOTTES WEB HOLDINGS INC 1,335,488.00 1.93 2,570,842.75 1.08% FS
PW 73933H101 POWER REIT 40,015.00 54 2,160,810.00 0.91% S
YCBD 12482W101 CBDMD INC 1,145,674.00 1.75 2,004,929.50 0.84% S
HITI 42981E401 HIGH TIDE INC 307,125.00 5.67 1,741,398.75 0.73% FS
GNLN 395330103 GREENLANE HOLDINGS INC - A 585,827.00 2.42 1,417,701.34 0.60% S
IMCC 44969Q208 IM CANNABIS CORP 409,217.00 3.39 1,387,245.63 0.58% FS
INCR/U BMV1MP4 INTERCURE LTD 142,362.00 7.12 1,013,617.44 0.43% FS
AGFY 8.53E+109 AGRIFY CORP 47,164.00 19.93 939,978.52 0.39% S
AH BDRXWQ2 ALEAFIA HEALTH INC 3,237,904.00 0.23 746,392.72 0.31% FS
OGI 68620P101 ORGANIGRAM HOLDINGS INC 226,597.00 2.3 521,173.10 0.22% FS
CBDHF 423821107 HEMPFUSION WELLNESS INC 1,971,285.00 0.2 385,780.47 0.16% FS
PCLO BH4KPJ8 PHARMACIELO LTD 375,735.00 0.94 352,531.73 0.15% FS
EMH BYQ0XN5 EMERALD HEALTH THERAPEUTICS 1,856,279.00 0.08 157,648.97 0.07% FS
KHRN BDGH0L6 KHIRON LIFE SCIENCES CORP 628,330.00 0.22 139,758.77 0.06% FS
TGOD BG0DCR1 GREEN ORGANIC DUTCHMAN HOLDI 764,708.00 0.14 109,787.41 0.05% FS
ITHUF ITHUFTRS IANTHUS CAPITAL HOLDINGS SWAP REC 464,000.00 0.22 102,080.00 0.04% TW
ENTG BNTZ8B3 ENTOURAGE HEALTH CORP 709,697.00 0.13 88,974.03 0.04% FS
X9USDBLYT BLACKROCK TREASURY TRUST INSTL 62 73,221,824.94 1 73,221,824.94 30.75% MM
CASH -74,287,425.05 100 -74,287,425.05 -31.19% 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

8/31/2021

YOLO Market Cap

YOLO Regional Allocation

FUND

Attributes

As of

Date Description YOLO
08/31/2021 30-Day SEC Subsidized Yield -0.03%
30-Day SEC Unsubsidized Yield -0.03%

Past Performance is not indicative of future results. 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. Securities lending and swap income are included as part of the yield calculation, provided by BNY. 

FUND

Fees & Expenses

Management Fee 0.60%
Other Expenses 0.50%
Gross Expense Ratio 1.18%
Fee Waiver and/or Expense Reimbursement -0.43%
Net Expense Ratio 0.75%

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 0.99% of the Fund’s average daily net assets for at least one year from the date of the Prospectus.

Last Ten

Fund Distributions

Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus and summary prospectus. Please read the prospectus and summary prospectus carefully before you invest. Foreside Fund Services, LLC, Distributor.

The Fund is subject to a number of risks that may affect the value of its shares. This section provides additional information about the Fund’s principal risks. The degree to which a risk applies to the Fund varies according to its investment allocation. Each investor should review the complete description of the principal risks before investing in the Fund. As with investing in other securities whose prices increase and decrease in market value, you may lose money by investing in the Fund.

Cannabis-Related Company Risk. Cannabis-related companies are subject to various laws and regulations that may differ at the state/local and federal level. These laws and regulations may (i) significantly affect a cannabis-related company’s ability to secure financing, (ii) impact the market for marijuana industry sales and services, and (iii) set limitations on marijuana use, production, transportation, and storage. Cannabis-related companies may also be required to secure permits and authorizations from government agencies to cultivate or research marijuana. In addition, cannabis-related companies are subject to the risks associated with the greater agricultural industry, including changes to or trends that affect commodity prices, labor costs, weather conditions, and laws and regulations related to environmental protection, health and safety. Cannabis-related companies may also be subject to risks associated with the biotechnology and pharmaceutical industries. These risks include increased government regulation, the use and enforcement of intellectual property rights and patents, technological change and obsolescence, product liability lawsuits, and the risk that research and development may not necessarily lead to commercially successful products.

Shares are bought and sold at market price not net asset value (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.