(YOLO) ADVISORSHARES PURE CANNABIS ETF
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|
<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.
- 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.
- 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.
- 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.
As of 9/23/2021
|4PM Bid/Offer Midpoint||$17.17||Premium Discount||$0.01|
|Assets Under Management||$270,253,274.80||30-Day Median bid-ask Spread||0.4213061|
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.
As of 8/31/2021
|NAV||Market Price Return||S&P 500|
|Since Inception (04/17/2019, Annualized)||-10.17||-10.29||22.74|
As of 6/30/2021
|NAV||Market Price Return||S&P 500|
|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.
|Date||Account Symbol||Stock Ticker||Security Number||Security Description||Shares/Par (Full)||Price (Base)||Traded Market Value (Base)||Portfolio Weight %||Asset Group|
|09/24/2021||YOLO||IIPR||45781V101||INNOVATIVE INDUSTRIAL PROPER||171,510.00||244.88||41,999,368.80||15.57%||S|
|VFF||92707Y108||VILLAGE FARMS INTERNATIONAL||4,690,473.00||8.48||39,775,211.04||14.74%||FS|
|GTBIF||GTBIFTRS||GREEN THUMB INDUSTRIES SWAP REC||720,000.00||28.04||20,185,272.00||7.48%||TW|
|CURLF||CURLFTRS||CURALEAF HOLDINGS INC SWAP REC||1,495,000.00||12.29||18,373,550.00||6.81%||TW|
|HRVSF||HRVSFFFS||HARVESTHEALTH SWAP R||4,550,000.00||3.31||15,060,500.00||5.58%||TW|
|TLRY||88688T100||TILRAY INC-CLASS 2 COMMON||1,264,206.00||11.67||14,753,284.02||5.47%||S|
|CRLBF||CRLBFTRS||CRESCO LABS INC SWAP REC||1,519,523.00||9.25||14,055,587.75||5.21%||TW|
|TCNNF||TCNNFTRS||TRULIEVE CANNABIS SWAP REC||451,265.00||29.1||13,131,811.50||4.87%||TW|
|CCHWF||CCHWFTRS||COLUMBIA CARE INC SWAP REC||2,740,282.00||4.15||11,372,170.30||4.22%||TW|
|CGC||138035100||CANOPY GROWTH CORP||779,367.00||13.91||10,840,994.97||4.02%||FS|
|SOLCF||SOLCFFFS||SOL GLOBAL INVESTMENTS CORP SWAP REC||3,434,625.00||2.99||10,269,528.75||3.81%||TW|
|TRSSF||TRSSFFFS||TERRASCEND CORP SWAP REC||1,300,000.00||7.13||9,264,021.00||3.43%||TW|
|RIV||BMFBP84||RIV CAPITAL INC||5,349,112.00||1.17||6,277,212.63||2.33%||FS|
|CRDL||BHZT969||CARDIOL THERAPEUTICS INC-A||1,062,378.00||4.48||4,760,912.67||1.77%||FS|
|VLNS||BKMPJ38||VALENS CO INC/THE||1,899,547.00||2.01||3,814,952.23||1.41%||FS|
|JAZZ||G50871105||JAZZ PHARMACEUTICALS PLC||22,038.00||135.35||2,982,843.30||1.11%||FS|
|CWEB||BGHY2B1||CHARLOTTES WEB HOLDINGS INC||1,401,496.00||2.04||2,858,844.33||1.06%||FS|
|HITI||42981E401||HIGH TIDE INC||322,500.00||6.46||2,083,350.00||0.77%||FS|
|GNLN||395330103||GREENLANE HOLDINGS INC - A||614,835.00||2.52||1,549,384.20||0.57%||S|
|IMCC||44969Q208||IM CANNABIS CORP||429,545.00||3.49||1,499,112.05||0.56%||FS|
|AH||BDRXWQ2||ALEAFIA HEALTH INC||3,552,579.00||0.24||839,390.17||0.31%||FS|
|OGI||68620P101||ORGANIGRAM HOLDINGS INC||237,993.00||2.42||575,943.06||0.21%||FS|
|CBDHF||423821107||HEMPFUSION WELLNESS INC||2,068,817.00||0.24||496,102.32||0.18%||FS|
|EMH||BYQ0XN5||EMERALD HEALTH THERAPEUTICS||1,948,074.00||0.1||199,456.27||0.07%||FS|
|ITHUF||ITHUFTRS||IANTHUS CAPITAL HOLDINGS SWAP REC||464,000.00||0.4||185,600.00||0.07%||TW|
|KHRN||BDGH0L6||KHIRON LIFE SCIENCES CORP||711,225.00||0.22||156,842.56||0.06%||FS|
|ENTG||BNTZ8B3||ENTOURAGE HEALTH CORP||744,956.00||0.17||123,210.81||0.05%||FS|
|TGOD||BG0DCR1||GREEN ORGANIC DUTCHMAN HOLDI||802,779.00||0.14||113,806.58||0.04%||FS|
|X9USDBLYT||BLACKROCK TREASURY TRUST INSTL 62||79,180,711.56||1||79,180,711.56||29.35%||MM|
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.
YOLO Market Cap
YOLO Regional Allocation
|07/31/2021||30-Day SEC Subsidized Yield||-0.30%|
|30-Day SEC Unsubsidized Yield||-0.30%|
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.
Fees & Expenses
|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.
|Ex-Date||Record Date||Pay Date||Cash Div||ST Cap Gain||LT Cap Gain||Return of Capital||Total Distribution (per share)||YOLO|