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ADVISORSHARES
AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. ETFS | ADVISORSHARESMSOSDBLVCWSAADRACTIVELY MANAGED ETFSACT AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. EATZ | ADVISORSHARES The AdvisorShares Restaurant ETF (EATZ) allows investors to put their money where their mouth is and invest in conjunction with their own spending habits. EATZ is the only ETF investing exclusively in the restaurant and food service industry, including restaurants, bars, pubs, fast food, take out facilities, food catering services and more. YOLO | ADVISORSHARES 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.ADVISORSHARES
AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. ETFS | ADVISORSHARESMSOSDBLVCWSAADRACTIVELY MANAGED ETFSACT AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. EATZ | ADVISORSHARES The AdvisorShares Restaurant ETF (EATZ) allows investors to put their money where their mouth is and invest in conjunction with their own spending habits. EATZ is the only ETF investing exclusively in the restaurant and food service industry, including restaurants, bars, pubs, fast food, take out facilities, food catering services and more. YOLO | ADVISORSHARES 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. VICE | ADVISORSHARES 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 and only ETF to offer exclusive 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 MSOS | ADVISORSHARES 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 and only ETF to offer exclusive 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 BEDZ | ADVISORSHARES BEDZ can serve as an alpha-seeking complement to a broad-based equity allocation, offering dedicated exposure solely to the hotel industry and travel-related services. Key Attributes. Only ETF Dedicated Solely to the Hotel Industry – Offers focused exposure to the global hotel and lodging industry as well as its related services.QPX | ADVISORSHARES
QPX is an actively managed ETF seeking to target equity market upside while tactically managing downside risk during abnormal market volatility. Using ETFs, QPX may invest in a broad variety of equities across market cap, style or sectors and will use various fixed incomecategories and
ADVISORSHARES TRUST
ADVISORSHARES TRUST 4800 Montgomery Lane Suite 150 Bethesda, Maryland 20814 www.advisorshares.com 1.877.843.3831 Semi-Annual Report December31, 2020
DORSEY WRIGHT ETFS
Dorsey Wright ETFs | Advisorshares. Dorsey, Wright & Associates, LLC, founded in 1987 and led by Tom Dorsey, is a firm renowned for their core philosophy of relative strength investing. Relative strength investing involves buying securities that have appreciated in price more than the other securities in their investment universe andholding
ETFS | ADVISORSHARES AdvisorShares offers a series of actively managed, thematic ETFs that seek to provide concentrated equity exposure to durable and innovative investment themes that can drive market trends and serve as alpha-seeking complements or satellite equity holdings to a broad-based equity allocation.ADVISOR CENTER
Advisor Center. Welcome to the AdvisorShares Advisor Center! Below you can find current insight from our team that will help you better understand our ETFs, different factors that can impact our ETFs, and how changes are made in our ETFs to best position them for success. We post these in chronological order, so that the most recent content isQPX | ADVISORSHARES
QPX is an actively managed ETF seeking to target equity market upside while tactically managing downside risk during abnormal market volatility. Using ETFs, QPX may invest in a broad variety of equities across market cap, style or sectors and will use various fixed incomecategories and
DBLV | ADVISORSHARES Sub-advisor DoubleLine Equity LP actively manages the AdvisorShares DoubleLine Value Equity ETF (DBLV) under a fundamental value strategy. Fundamental value investing targets two opportunity sets which arise when the market temporarily prices the equity of companies below intrinsic value: classic value and quality value common stocks. SHORT LANDING PAGE (DWSH) AdvisorShares Dorsey Wright Short ETF (DWSH) DWSH employs Nasdaq Dorsey Wright’s proprietary technical analysis –capitalizing on the flip side of relative strength by shorting stocks identified as momentum laggards. DWSH. Before investing you should carefully consider the Fund’s investment objectives, risks, charges andexpenses.
SENT | ADVISORSHARES About The ETF. Every quarter Wall Street analyst forecast company earnings. Every day SENT uses Alpha DNA’s proprietary quantitative research platform to analyze the digital properties and financial fundamentals of these companies. By deploying machine learning, SENT seeks to uncover the digital sentiment of companies and invests inthose
GK ETF – LAUNCHING SOON 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 www.advisorshares.com.Please read the prospectus carefully before youinvest.
FWDB | ADVISORSHARES FWDB. Overview. AdvisorShares is pleased to welcome FolioBeyond as the new research strategist for FWDB with this ETF’s recent portfolio management transition. While the ETF’s name has changed, both FWDB’s investment objective and ticker symbol remain the same. Learn more about FWDB’s institutional-quality investment approach and howit
EXECUTIVE BOARD
Elizabeth (Betsy) Piper/Bach brings a wealth of insight and experience in the financial services industry. Ms. Piper/Bach, an experienced financial services executive, has lead new product development and company mergers/acquisitions in the financial services sector while specializing in new regulations and challenges of the ever changing securities industry. DWAW | ADVISORSHARES Nasdaq Dorsey Wright is a registered investment advisory firm based in Richmond, Virginia. Since 1987, Dorsey Wright has offered comprehensive investment research and analysis through their Global Technical Research Platform. Dorsey Wright’s expertise is technical analysis, utilizing Point & Figure Charting, Relative StrengthAnalysis, and
ADVISORSHARES
AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. ETFS | ADVISORSHARESMSOSDBLVCWSAADRACTIVELY MANAGED ETFSACT AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. YOLO | ADVISORSHARES 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. VICE | ADVISORSHARES 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 and only ETF to offer exclusive 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 EATZ | ADVISORSHARES The AdvisorShares Restaurant ETF (EATZ) allows investors to put their money where their mouth is and invest in conjunction with their own spending habits. EATZ is the only ETF investing exclusively in the restaurant and food service industry, including restaurants, bars, pubs, fast food, take out facilities, food catering services and more. MSOS | ADVISORSHARES 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 and only ETF to offer exclusive 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 BEDZ | ADVISORSHARES BEDZ can serve as an alpha-seeking complement to a broad-based equity allocation, offering dedicated exposure solely to the hotel industry and travel-related services. Key Attributes. Only ETF Dedicated Solely to the Hotel Industry – Offers focused exposure to the global hotel and lodging industry as well as its related services.QPX | ADVISORSHARES
QPX is an actively managed ETF seeking to target equity market upside while tactically managing downside risk during abnormal market volatility. Using ETFs, QPX may invest in a broad variety of equities across market cap, style or sectors and will use various fixed incomecategories and
SHORT LANDING PAGE (DWSH) AdvisorShares Dorsey Wright Short ETF (DWSH) DWSH employs Nasdaq Dorsey Wright’s proprietary technical analysis –capitalizing on the flip side of relative strength by shorting stocks identified as momentum laggards. DWSH. Before investing you should carefully consider the Fund’s investment objectives, risks, charges andexpenses.
FWDB | ADVISORSHARES FWDB. Overview. AdvisorShares is pleased to welcome FolioBeyond as the new research strategist for FWDB with this ETF’s recent portfolio management transition. While the ETF’s name has changed, both FWDB’s investment objective and ticker symbol remain the same. Learn more about FWDB’s institutional-quality investment approach and howit
ADVISORSHARES
AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. ETFS | ADVISORSHARESMSOSDBLVCWSAADRACTIVELY MANAGED ETFSACT AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. YOLO | ADVISORSHARES 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. VICE | ADVISORSHARES 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 and only ETF to offer exclusive 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 EATZ | ADVISORSHARES The AdvisorShares Restaurant ETF (EATZ) allows investors to put their money where their mouth is and invest in conjunction with their own spending habits. EATZ is the only ETF investing exclusively in the restaurant and food service industry, including restaurants, bars, pubs, fast food, take out facilities, food catering services and more. MSOS | ADVISORSHARES 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 and only ETF to offer exclusive 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 BEDZ | ADVISORSHARES BEDZ can serve as an alpha-seeking complement to a broad-based equity allocation, offering dedicated exposure solely to the hotel industry and travel-related services. Key Attributes. Only ETF Dedicated Solely to the Hotel Industry – Offers focused exposure to the global hotel and lodging industry as well as its related services.QPX | ADVISORSHARES
QPX is an actively managed ETF seeking to target equity market upside while tactically managing downside risk during abnormal market volatility. Using ETFs, QPX may invest in a broad variety of equities across market cap, style or sectors and will use various fixed incomecategories and
SHORT LANDING PAGE (DWSH) AdvisorShares Dorsey Wright Short ETF (DWSH) DWSH employs Nasdaq Dorsey Wright’s proprietary technical analysis –capitalizing on the flip side of relative strength by shorting stocks identified as momentum laggards. DWSH. Before investing you should carefully consider the Fund’s investment objectives, risks, charges andexpenses.
FWDB | ADVISORSHARES FWDB. Overview. AdvisorShares is pleased to welcome FolioBeyond as the new research strategist for FWDB with this ETF’s recent portfolio management transition. While the ETF’s name has changed, both FWDB’s investment objective and ticker symbol remain the same. Learn more about FWDB’s institutional-quality investment approach and howit
ABOUT | ADVISORSHARES The vision of AdvisorShares is to be a global investment management firm with innovative products and services which provide access to some best of breed institutional money managers and experienced emerging money managers. The mission of AdvisorShares is to innovate not only our products but also how we service and communicate to ourshareholders.
ADVISOR CENTER
Advisor Center. Welcome to the AdvisorShares Advisor Center! Below you can find current insight from our team that will help you better understand our ETFs, different factors that can impact our ETFs, and how changes are made in our ETFs to best position them for success. We post these in chronological order, so that the most recent content is ACCESS EXCLUSIVE CONTENT ETF Updates: Weekly Update Email. Weekly Update Email. Delivered at the start of the week, this email contains the newest, up-to-date content on our ETFs. (available for Financial Professionals only) Monthly Update Email. Monthly Update Email. Delivered at the start of the month, this email highlights the previous month's top ETF content. FWDB | ADVISORSHARES FWDB. Overview. AdvisorShares is pleased to welcome FolioBeyond as the new research strategist for FWDB with this ETF’s recent portfolio management transition. While the ETF’s name has changed, both FWDB’s investment objective and ticker symbol remain the same. Learn more about FWDB’s institutional-quality investment approach and howit
CONTACT US | ADVISORSHARES AdvisorShares Investments, LLC 4800 Montgomery Lane Suite 150 Bethesda, Maryland, 20814 SHORT LANDING PAGE (DWSH) AdvisorShares Dorsey Wright Short ETF (DWSH) DWSH employs Nasdaq Dorsey Wright’s proprietary technical analysis –capitalizing on the flip side of relative strength by shorting stocks identified as momentum laggards. DWSH. Before investing you should carefully consider the Fund’s investment objectives, risks, charges andexpenses.
GK ETF – LAUNCHING SOON AdvisorShares Investments, LLC 4800 Montgomery Lane, Suite 150 Bethesda, Maryland 20814ADVISORSHARES TRUST
ADVISORSHARES TRUST 4800 Montgomery Lane Suite 150 Bethesda, Maryland 20814 www.advisorshares.com 1.877.843.3831 Semi-Annual Report December31, 2020
SENT | ADVISORSHARES About The ETF. Every quarter Wall Street analyst forecast company earnings. Every day SENT uses Alpha DNA’s proprietary quantitative research platform to analyze the digital properties and financial fundamentals of these companies. By deploying machine learning, SENT seeks to uncover the digital sentiment of companies and invests inthose
DORSEY WRIGHT ETFS
Dorsey Wright ETFs | Advisorshares. Dorsey, Wright & Associates, LLC, founded in 1987 and led by Tom Dorsey, is a firm renowned for their core philosophy of relative strength investing. Relative strength investing involves buying securities that have appreciated in price more than the other securities in their investment universe andholding
ADVISORSHARES
AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. ETFS | ADVISORSHARESMSOSDBLVCWSAADRACTIVELY MANAGED ETFSACT AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. YOLO | ADVISORSHARES 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. VICE | ADVISORSHARES 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 and only ETF to offer exclusive 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 EATZ | ADVISORSHARES The AdvisorShares Restaurant ETF (EATZ) allows investors to put their money where their mouth is and invest in conjunction with their own spending habits. EATZ is the only ETF investing exclusively in the restaurant and food service industry, including restaurants, bars, pubs, fast food, take out facilities, food catering services and more. MSOS | ADVISORSHARES 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 and only ETF to offer exclusive 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 BEDZ | ADVISORSHARES BEDZ can serve as an alpha-seeking complement to a broad-based equity allocation, offering dedicated exposure solely to the hotel industry and travel-related services. Key Attributes. Only ETF Dedicated Solely to the Hotel Industry – Offers focused exposure to the global hotel and lodging industry as well as its related services.QPX | ADVISORSHARES
QPX is an actively managed ETF seeking to target equity market upside while tactically managing downside risk during abnormal market volatility. Using ETFs, QPX may invest in a broad variety of equities across market cap, style or sectors and will use various fixed incomecategories and
SHORT LANDING PAGE (DWSH) AdvisorShares Dorsey Wright Short ETF (DWSH) DWSH employs Nasdaq Dorsey Wright’s proprietary technical analysis –capitalizing on the flip side of relative strength by shorting stocks identified as momentum laggards. DWSH. Before investing you should carefully consider the Fund’s investment objectives, risks, charges andexpenses.
FWDB | ADVISORSHARES FWDB. Overview. AdvisorShares is pleased to welcome FolioBeyond as the new research strategist for FWDB with this ETF’s recent portfolio management transition. While the ETF’s name has changed, both FWDB’s investment objective and ticker symbol remain the same. Learn more about FWDB’s institutional-quality investment approach and howit
ADVISORSHARES
AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. ETFS | ADVISORSHARESMSOSDBLVCWSAADRACTIVELY MANAGED ETFSACT AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. YOLO | ADVISORSHARES 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. VICE | ADVISORSHARES 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 and only ETF to offer exclusive 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 EATZ | ADVISORSHARES The AdvisorShares Restaurant ETF (EATZ) allows investors to put their money where their mouth is and invest in conjunction with their own spending habits. EATZ is the only ETF investing exclusively in the restaurant and food service industry, including restaurants, bars, pubs, fast food, take out facilities, food catering services and more. MSOS | ADVISORSHARES 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 and only ETF to offer exclusive 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 BEDZ | ADVISORSHARES BEDZ can serve as an alpha-seeking complement to a broad-based equity allocation, offering dedicated exposure solely to the hotel industry and travel-related services. Key Attributes. Only ETF Dedicated Solely to the Hotel Industry – Offers focused exposure to the global hotel and lodging industry as well as its related services.QPX | ADVISORSHARES
QPX is an actively managed ETF seeking to target equity market upside while tactically managing downside risk during abnormal market volatility. Using ETFs, QPX may invest in a broad variety of equities across market cap, style or sectors and will use various fixed incomecategories and
SHORT LANDING PAGE (DWSH) AdvisorShares Dorsey Wright Short ETF (DWSH) DWSH employs Nasdaq Dorsey Wright’s proprietary technical analysis –capitalizing on the flip side of relative strength by shorting stocks identified as momentum laggards. DWSH. Before investing you should carefully consider the Fund’s investment objectives, risks, charges andexpenses.
FWDB | ADVISORSHARES FWDB. Overview. AdvisorShares is pleased to welcome FolioBeyond as the new research strategist for FWDB with this ETF’s recent portfolio management transition. While the ETF’s name has changed, both FWDB’s investment objective and ticker symbol remain the same. Learn more about FWDB’s institutional-quality investment approach and howit
ABOUT | ADVISORSHARES The vision of AdvisorShares is to be a global investment management firm with innovative products and services which provide access to some best of breed institutional money managers and experienced emerging money managers. The mission of AdvisorShares is to innovate not only our products but also how we service and communicate to ourshareholders.
ADVISOR CENTER
Advisor Center. Welcome to the AdvisorShares Advisor Center! Below you can find current insight from our team that will help you better understand our ETFs, different factors that can impact our ETFs, and how changes are made in our ETFs to best position them for success. We post these in chronological order, so that the most recent content is ACCESS EXCLUSIVE CONTENT ETF Updates: Weekly Update Email. Weekly Update Email. Delivered at the start of the week, this email contains the newest, up-to-date content on our ETFs. (available for Financial Professionals only) Monthly Update Email. Monthly Update Email. Delivered at the start of the month, this email highlights the previous month's top ETF content. FWDB | ADVISORSHARES FWDB. Overview. AdvisorShares is pleased to welcome FolioBeyond as the new research strategist for FWDB with this ETF’s recent portfolio management transition. While the ETF’s name has changed, both FWDB’s investment objective and ticker symbol remain the same. Learn more about FWDB’s institutional-quality investment approach and howit
CONTACT US | ADVISORSHARES AdvisorShares Investments, LLC 4800 Montgomery Lane Suite 150 Bethesda, Maryland, 20814 SHORT LANDING PAGE (DWSH) AdvisorShares Dorsey Wright Short ETF (DWSH) DWSH employs Nasdaq Dorsey Wright’s proprietary technical analysis –capitalizing on the flip side of relative strength by shorting stocks identified as momentum laggards. DWSH. Before investing you should carefully consider the Fund’s investment objectives, risks, charges andexpenses.
GK ETF – LAUNCHING SOON AdvisorShares Investments, LLC 4800 Montgomery Lane, Suite 150 Bethesda, Maryland 20814ADVISORSHARES TRUST
ADVISORSHARES TRUST 4800 Montgomery Lane Suite 150 Bethesda, Maryland 20814 www.advisorshares.com 1.877.843.3831 Semi-Annual Report December31, 2020
SENT | ADVISORSHARES About The ETF. Every quarter Wall Street analyst forecast company earnings. Every day SENT uses Alpha DNA’s proprietary quantitative research platform to analyze the digital properties and financial fundamentals of these companies. By deploying machine learning, SENT seeks to uncover the digital sentiment of companies and invests inthose
DORSEY WRIGHT ETFS
Dorsey Wright ETFs | Advisorshares. Dorsey, Wright & Associates, LLC, founded in 1987 and led by Tom Dorsey, is a firm renowned for their core philosophy of relative strength investing. Relative strength investing involves buying securities that have appreciated in price more than the other securities in their investment universe andholding
ADVISORSHARES
AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. ETFS | ADVISORSHARESMSOSDBLVCWSAADRACTIVELY MANAGED ETFSACT AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. YOLO | ADVISORSHARES 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. VICE | ADVISORSHARES 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 and only ETF to offer exclusive 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 EATZ | ADVISORSHARES The AdvisorShares Restaurant ETF (EATZ) allows investors to put their money where their mouth is and invest in conjunction with their own spending habits. EATZ is the only ETF investing exclusively in the restaurant and food service industry, including restaurants, bars, pubs, fast food, take out facilities, food catering services and more. MSOS | ADVISORSHARES 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 and only ETF to offer exclusive 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 BEDZ | ADVISORSHARES BEDZ can serve as an alpha-seeking complement to a broad-based equity allocation, offering dedicated exposure solely to the hotel industry and travel-related services. Key Attributes. Only ETF Dedicated Solely to the Hotel Industry – Offers focused exposure to the global hotel and lodging industry as well as its related services. QPX | ADVISORSHARESQPX FILE QPX is an actively managed ETF seeking to target equity market upside while tactically managing downside risk during abnormal market volatility. Using ETFs, QPX may invest in a broad variety of equities across market cap, style or sectors and will use various fixed incomecategories and
ADVISORSHARES
AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. ETFS | ADVISORSHARESMSOSDBLVCWSAADRACTIVELY MANAGED ETFSACT AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. YOLO | ADVISORSHARES 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. VICE | ADVISORSHARES 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 and only ETF to offer exclusive 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 EATZ | ADVISORSHARES The AdvisorShares Restaurant ETF (EATZ) allows investors to put their money where their mouth is and invest in conjunction with their own spending habits. EATZ is the only ETF investing exclusively in the restaurant and food service industry, including restaurants, bars, pubs, fast food, take out facilities, food catering services and more. MSOS | ADVISORSHARES 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 and only ETF to offer exclusive 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 BEDZ | ADVISORSHARES BEDZ can serve as an alpha-seeking complement to a broad-based equity allocation, offering dedicated exposure solely to the hotel industry and travel-related services. Key Attributes. Only ETF Dedicated Solely to the Hotel Industry – Offers focused exposure to the global hotel and lodging industry as well as its related services. QPX | ADVISORSHARESQPX FILE QPX is an actively managed ETF seeking to target equity market upside while tactically managing downside risk during abnormal market volatility. Using ETFs, QPX may invest in a broad variety of equities across market cap, style or sectors and will use various fixed incomecategories and
SHORT LANDING PAGE (DWSH) AdvisorShares Dorsey Wright Short ETF (DWSH) DWSH employs Nasdaq Dorsey Wright’s proprietary technical analysis –capitalizing on the flip side of relative strength by shorting stocks identified as momentum laggards. DWSH. Before investing you should carefully consider the Fund’s investment objectives, risks, charges andexpenses.
FWDB | ADVISORSHARES FWDB. Overview. AdvisorShares is pleased to welcome FolioBeyond as the new research strategist for FWDB with this ETF’s recent portfolio management transition. While the ETF’s name has changed, both FWDB’s investment objective and ticker symbol remain the same. Learn more about FWDB’s institutional-quality investment approach and howit
ABOUT | ADVISORSHARES The vision of AdvisorShares is to be a global investment management firm with innovative products and services which provide access to some best of breed institutional money managers and experienced emerging money managers. The mission of AdvisorShares is to innovate not only our products but also how we service and communicate to ourshareholders.
ADVISOR CENTER
Advisor Center. Welcome to the AdvisorShares Advisor Center! Below you can find current insight from our team that will help you better understand our ETFs, different factors that can impact our ETFs, and how changes are made in our ETFs to best position them for success. We post these in chronological order, so that the most recent content is ACCESS EXCLUSIVE CONTENT ETF Updates: Weekly Update Email. Weekly Update Email. Delivered at the start of the week, this email contains the newest, up-to-date content on our ETFs. (available for Financial Professionals only) Monthly Update Email. Monthly Update Email. Delivered at the start of the month, this email highlights the previous month's top ETF content. FWDB | ADVISORSHARES FWDB. Overview. AdvisorShares is pleased to welcome FolioBeyond as the new research strategist for FWDB with this ETF’s recent portfolio management transition. While the ETF’s name has changed, both FWDB’s investment objective and ticker symbol remain the same. Learn more about FWDB’s institutional-quality investment approach and howit
CONTACT US | ADVISORSHARES AdvisorShares Investments, LLC 4800 Montgomery Lane Suite 150 Bethesda, Maryland, 20814 SHORT LANDING PAGE (DWSH) AdvisorShares Dorsey Wright Short ETF (DWSH) DWSH employs Nasdaq Dorsey Wright’s proprietary technical analysis –capitalizing on the flip side of relative strength by shorting stocks identified as momentum laggards. DWSH. Before investing you should carefully consider the Fund’s investment objectives, risks, charges andexpenses.
GK ETF – LAUNCHING SOON AdvisorShares Investments, LLC 4800 Montgomery Lane, Suite 150 Bethesda, Maryland 20814ADVISORSHARES TRUST
ADVISORSHARES TRUST 4800 Montgomery Lane Suite 150 Bethesda, Maryland 20814 www.advisorshares.com 1.877.843.3831 Semi-Annual Report December31, 2020
SENT | ADVISORSHARES About The ETF. Every quarter Wall Street analyst forecast company earnings. Every day SENT uses Alpha DNA’s proprietary quantitative research platform to analyze the digital properties and financial fundamentals of these companies. By deploying machine learning, SENT seeks to uncover the digital sentiment of companies and invests inthose
DORSEY WRIGHT ETFS
Dorsey Wright ETFs | Advisorshares. Dorsey, Wright & Associates, LLC, founded in 1987 and led by Tom Dorsey, is a firm renowned for their core philosophy of relative strength investing. Relative strength investing involves buying securities that have appreciated in price more than the other securities in their investment universe andholding
ADVISORSHARES
AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. ETFS | ADVISORSHARESMSOSDBLVCWSAADRACTIVELY MANAGED ETFSACT AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. YOLO | ADVISORSHARES 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. VICE | ADVISORSHARES 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 and only ETF to offer exclusive 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 EATZ | ADVISORSHARES The AdvisorShares Restaurant ETF (EATZ) allows investors to put their money where their mouth is and invest in conjunction with their own spending habits. EATZ is the only ETF investing exclusively in the restaurant and food service industry, including restaurants, bars, pubs, fast food, take out facilities, food catering services and more. MSOS | ADVISORSHARES 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 and only ETF to offer exclusive 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 BEDZ | ADVISORSHARES BEDZ can serve as an alpha-seeking complement to a broad-based equity allocation, offering dedicated exposure solely to the hotel industry and travel-related services. Key Attributes. Only ETF Dedicated Solely to the Hotel Industry – Offers focused exposure to the global hotel and lodging industry as well as its related services. QPX | ADVISORSHARESQPX FILE QPX is an actively managed ETF seeking to target equity market upside while tactically managing downside risk during abnormal market volatility. Using ETFs, QPX may invest in a broad variety of equities across market cap, style or sectors and will use various fixed incomecategories and
SHORT LANDING PAGE (DWSH) AdvisorShares Dorsey Wright Short ETF (DWSH) DWSH employs Nasdaq Dorsey Wright’s proprietary technical analysis –capitalizing on the flip side of relative strength by shorting stocks identified as momentum laggards. DWSH. Before investing you should carefully consider the Fund’s investment objectives, risks, charges andexpenses.
FWDB | ADVISORSHARES FWDB. Overview. AdvisorShares is pleased to welcome FolioBeyond as the new research strategist for FWDB with this ETF’s recent portfolio management transition. While the ETF’s name has changed, both FWDB’s investment objective and ticker symbol remain the same. Learn more about FWDB’s institutional-quality investment approach and howit
ADVISORSHARES
AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. ETFS | ADVISORSHARESMSOSDBLVCWSAADRACTIVELY MANAGED ETFSACT AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions. Diversified. Symbol. YOLO | ADVISORSHARES 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. VICE | ADVISORSHARES 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 and only ETF to offer exclusive 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 EATZ | ADVISORSHARES The AdvisorShares Restaurant ETF (EATZ) allows investors to put their money where their mouth is and invest in conjunction with their own spending habits. EATZ is the only ETF investing exclusively in the restaurant and food service industry, including restaurants, bars, pubs, fast food, take out facilities, food catering services and more. MSOS | ADVISORSHARES 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 and only ETF to offer exclusive 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 BEDZ | ADVISORSHARES BEDZ can serve as an alpha-seeking complement to a broad-based equity allocation, offering dedicated exposure solely to the hotel industry and travel-related services. Key Attributes. Only ETF Dedicated Solely to the Hotel Industry – Offers focused exposure to the global hotel and lodging industry as well as its related services. QPX | ADVISORSHARESQPX FILE QPX is an actively managed ETF seeking to target equity market upside while tactically managing downside risk during abnormal market volatility. Using ETFs, QPX may invest in a broad variety of equities across market cap, style or sectors and will use various fixed incomecategories and
SHORT LANDING PAGE (DWSH) AdvisorShares Dorsey Wright Short ETF (DWSH) DWSH employs Nasdaq Dorsey Wright’s proprietary technical analysis –capitalizing on the flip side of relative strength by shorting stocks identified as momentum laggards. DWSH. Before investing you should carefully consider the Fund’s investment objectives, risks, charges andexpenses.
FWDB | ADVISORSHARES FWDB. Overview. AdvisorShares is pleased to welcome FolioBeyond as the new research strategist for FWDB with this ETF’s recent portfolio management transition. While the ETF’s name has changed, both FWDB’s investment objective and ticker symbol remain the same. Learn more about FWDB’s institutional-quality investment approach and howit
ABOUT | ADVISORSHARES The vision of AdvisorShares is to be a global investment management firm with innovative products and services which provide access to some best of breed institutional money managers and experienced emerging money managers. The mission of AdvisorShares is to innovate not only our products but also how we service and communicate to ourshareholders.
ADVISOR CENTER
Advisor Center. Welcome to the AdvisorShares Advisor Center! Below you can find current insight from our team that will help you better understand our ETFs, different factors that can impact our ETFs, and how changes are made in our ETFs to best position them for success. We post these in chronological order, so that the most recent content is ACCESS EXCLUSIVE CONTENT ETF Updates: Weekly Update Email. Weekly Update Email. Delivered at the start of the week, this email contains the newest, up-to-date content on our ETFs. (available for Financial Professionals only) Monthly Update Email. Monthly Update Email. Delivered at the start of the month, this email highlights the previous month's top ETF content. FWDB | ADVISORSHARES FWDB. Overview. AdvisorShares is pleased to welcome FolioBeyond as the new research strategist for FWDB with this ETF’s recent portfolio management transition. While the ETF’s name has changed, both FWDB’s investment objective and ticker symbol remain the same. Learn more about FWDB’s institutional-quality investment approach and howit
CONTACT US | ADVISORSHARES AdvisorShares Investments, LLC 4800 Montgomery Lane Suite 150 Bethesda, Maryland, 20814 SHORT LANDING PAGE (DWSH) AdvisorShares Dorsey Wright Short ETF (DWSH) DWSH employs Nasdaq Dorsey Wright’s proprietary technical analysis –capitalizing on the flip side of relative strength by shorting stocks identified as momentum laggards. DWSH. Before investing you should carefully consider the Fund’s investment objectives, risks, charges andexpenses.
GK ETF – LAUNCHING SOON AdvisorShares Investments, LLC 4800 Montgomery Lane, Suite 150 Bethesda, Maryland 20814ADVISORSHARES TRUST
ADVISORSHARES TRUST 4800 Montgomery Lane Suite 150 Bethesda, Maryland 20814 www.advisorshares.com 1.877.843.3831 Semi-Annual Report December31, 2020
SENT | ADVISORSHARES About The ETF. Every quarter Wall Street analyst forecast company earnings. Every day SENT uses Alpha DNA’s proprietary quantitative research platform to analyze the digital properties and financial fundamentals of these companies. By deploying machine learning, SENT seeks to uncover the digital sentiment of companies and invests inthose
DORSEY WRIGHT ETFS
Dorsey Wright ETFs | Advisorshares. Dorsey, Wright & Associates, LLC, founded in 1987 and led by Tom Dorsey, is a firm renowned for their core philosophy of relative strength investing. Relative strength investing involves buying securities that have appreciated in price more than the other securities in their investment universe andholding
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AdvisorShares Dorsey Wright Short ETF Market volatility can happen when least expected. How Will You Shelter from Market Storms?More
HDGE
AdvisorShares Ranger Equity Bear ETF Worried About the Bull Giving You the Horns?_Be Prepared._
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MSOS
AdvisorShares Pure US Cannabis ETF The Freedom to Invest in American Cannabis The US represents the largest market in the world and still with the greatest untapped growth potential for cannabis.More
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NEW ETF
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ADVISORSHARES
PURE US
CANNABIS ETF
_MSOS OFFERS EXCLUSIVE U.S. EXPOSURE_COMING SOON
QPT
ADVISORSHARES Q PORTFOLIO BLENDED ALLOCATION ETFQPX
ADVISORSHARES Q DYNAMIC GROWTH ETFSENT
ADVISORSHARES ALPHA DNA EQUITY SENTIMENT ETFETF
Equity
AdvisorShares offers a variety of actively managed equity ETFs that provide diversification across accomplished portfolio managers and domestic and international investment strategies. With varying investment approaches, styles, and capitalizations, our equity ETFs can be used as core equity positions or as alpha-seeking complements to core equity positions.CONCENTRATED
SYMBOL
EXCHANGE
ETF
AADR
NYSE Arca
Dorsey Wright ADR ETFCWS
NYSE Arca
Focused Equity ETF
DBLV
NYSE Arca
DoubleLine Value Equity ETFDWEQ
Nasdaq
Dorsey Wright Alpha Equal Weight ETFDIVERSIFIED
SYMBOL
EXCHANGE
ETF
DWAW
Nasdaq
Dorsey Wright FSM All Cap World ETFDWMC
Nasdaq
Dorsey Wright Micro-Cap ETFDWUS
Nasdaq
Dorsey Wright FSM U.S. Core ETFALTERNATIVE
SYMBOL
EXCHANGE
ETF
DWSH
Nasdaq
Dorsey Wright Short ETFHDGE
NYSE Arca
Ranger Equity Bear ETFETF
MULTI-ASSET
AdvisorShares offers single actively managed ETF solutions that can allocate across multiple asset classes seeking to mitigate overall investment risk and can serve as a core total return position.TOTAL RETURN
SYMBOL
EXCHANGE
ETF
VEGA
NYSE Arca
STAR Global Buy-Write ETFETF
Income
AdvisorShares offers a variety of actively managed fixed income ETFs which feature accomplished portfolio managers and different strategy types with varying exposures to yield, duration and credit risks. Our income ETFs can serve as core fixed income positions or as yield-enhancing complements to core fixed income positions.DIVERSIFIED
SYMBOL
EXCHANGE
ETF
FWDB
NYSE Arca
FolioBeyond Smart Core Bond ETFMINC
NYSE Arca
Newfleet Multi-Sector Income ETF ULTRA-SHORT DURATIONSYMBOL
EXCHANGE
ETF
HOLD
NYSE Arca
Sage Core Reserves ETFETF
Thematic
AdvisorShares offers a series of actively managed, thematic ETFs that seek to provide concentrated equity exposure to durable and innovative investment themes that can drive market trends and serve as alpha-seeking complements or satellite equity holdings to a broad-based equity allocation.DOMESTIC
SYMBOL
EXCHANGE
ETF
MSOS
NYSE Arca
Pure US Cannabis ETFGLOBAL
SYMBOL
EXCHANGE
ETF
VICE
NYSE Arca
Vice ETF
YOLO
NYSE Arca
Pure Cannabis ETF
CONTACT INFO
info@advisorshares.com1.877.843.3831
LOCATION
AdvisorShares Investments, LLC 4800 Montgomery Lane,Suite 150
Bethesda, Maryland 20814
ETF SYMBOLS
AADR , CWS , DBLV
, DWAW , DWEQ , DWMC , DWSH , DWUS , FWDB , HDGE , HOLD , MINC , MSOS , VEGA , VICE , YOLOPrivacy
Copyright © AdvisorShares 2019 • Foreside Fund Services, LLCDistributor
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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 AND SUMMARY PROSPECTUS. PLEASE READ THE PROSPECTUS AND SUMMARY PROSPECTUS CAREFULLY BEFORE YOU INVEST. Foreside Fund Services, LLC, Distributor._ _An investment in the Funds is subject to risk, including the possible loss of principal amount invested. The risks associated with each Fund include the risks associated with the underlying ETFs, which can result in higher volatility, and are detailed in each Fund’s prospectus and on each Fund’s webpage._Details
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