Market Volatility Solution
Webinar July 8 @ 4:00 pm EDT - Register Here
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During market struggles, the AdvisorShares Dorsey Wright Short ETF has been turning downturns into opportunity...AND with results: 
Past performance is not indicative 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. For standardized and month end performance for DWSH, click here; for SH, click here. Market corrections are measured as declines in the S&P 500 of 10% or more from its peak. DWSH inception 7/10/2018. Source: Morningstar.
DWSH can be used in client portfolios to hedge long equity exposure from market downturns.
 
As an actively managed, alpha-seeking ETF solution, DWSH employs Dorsey Wright’s technical relative strength strategy, but in reverse. It sells short U.S.-listed equities (primarily large-cap) that have exhibited high relative weakness (i.e., stocks that have fallen in price more than others in its universe). 
How Is DWSH Different
From Other Defensive Funds?
Employs a pure short strategy (i.e., shorts individual stocks, not indexes)
Does not use index swaps or futures for inverse exposure
Is not a "geared" strategy (i.e., does not require daily rebalancing)
Is actively managed
Turning Market Volatility
into Opportunity with DWSH
 
Live Webinar 
Wednesday July 8
4:00 p.m. EDT
 
Register Here
 
featuring:
 
John Lewis 
DWSH Portfolio Manager
Nasdaq Dorsey Wright
 
 
 
 

 
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  An AdvisorShares Investment Consultant can be reached at 1.877.843.3831 to discuss our actively managed ETF offerings. We are able to assist with special order handling to ensure that you receive the best trading execution.
to an ADVISORSHARES Portfolio Manager or Investment Consultant 
 

 
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-For Financial Intermediary Use Only - Not For Use With The Retail Public-
 
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.
 
The Fund is subject to a number of risks that may affect the value of its shares, including the possible loss of principal. Short sales are transactions in which the Fund sells a security it does not own. To complete the transaction, the Fund must borrow the security to make delivery to the buyer. The Fund is then obligated to replace the security borrowed by purchasing the security at the market price at the time of replacement. If the underlying security goes down in price between the time the Fund sells the security and buys it back, the Fund will realize a gain on the transaction. Conversely, if the underlying security goes up in price during the period, the Fund will realize a loss on the transaction. Any such loss is increased by the amount of premium or interest the Fund must pay to the lender of the security. Likewise, any gain will be decreased by the amount of premium or interest the Fund must pay to the lender of the security. Because a short position loses value as the security’s price increases, the loss on a short sale is theoretically unlimited. Short sales involve leverage because the Fund borrows securities and then sells them, effectively leveraging its assets. The use of leverage may magnify gains or losses for the Fund. As with any fund, there is no guarantee that the Fund will achieve its investment objective.
 
The purpose of this material is to provide financial professionals with a means to evaluate the investment methodology of the ProShares Short S&P 500 ETF as compared to AdvisorShares Dorsey Wright Short ETF. The ProShares Short S&P 500 ETF was chosen because it is one of the most recognized and established short ETFs and the S&P 500 is DWSH’s benchmark index. It is the opinion of AdvisorShares, that all funds are managed differently and do not react the same to economic or market events. The investment objectives, strategies, policies or restrictions of other funds may differ and more information can be found in their respective prospectuses. Therefore, we generally do not believe it is possible to make direct fund to fund comparisons in an effort to highlight the benefits of a fund versus another similarly managed fund. The information included in this material is based upon data obtained from Morningstar which is believed to be accurate. This material is not considered as an offer to sell or a solicitation to buy shares of any other funds mentioned herein.  
 
The information below attempts to highlight the materials differences between the two funds.
 
DWSH – AdvisorShares Dorsey Wright Short ETF
 
Fees: Gross Expense Ratio – 3.37% Net Expense Ratio – 3.07%. The Advisor has contractually agreed to waive its fees and/or reimburse expenses to keep net expenses (excluding acquired fund fees and expenses (AFFE), interest expense) from exceeding 1.25% of the Fund’s average daily net assets. For at least one year from the date of the most recent prospectus. The Fund’s short interest expense and AFFE are 1.71% and 0.11% respectively)
 
Objective: The Fund seeks capital appreciation through short selling securities.
 
Strategy: The Fund is actively-managed with an investment focus that applies a shorting strategy to the Sub-Advisor’s core philosophy of relative strength and seeks to identify market periods, typically after severe market corrections, where the stocks with the most relative weakness may subsequently outperform the broader market. Relative strength investing involves buying securities that have appreciated in price more than the other securities in the investment universe and holding those securities until they underperform. In applying the Fund’s shorting strategy to its core philosophy of relative strength; the Sub-Advisor will identify and short those securities with the highest relative weakness within the universe of investable securities, which is primarily comprised of large-capitalization U.S.-traded equity securities and ETFs.
 
Risks: The Fund’s strategy may frequently involve buying and selling securities, which may lead to relatively high portfolio turnover. The Sub-Advisor’s judgment about the markets, the economy, or companies may not anticipate actual market movements, economic conditions or company performance, and these judgments may affect the return on your investment
 
Other Info: During the most recent fiscal year, the Fund’s portfolio turnover rate was 357% of the average value of its portfolio. The Fund will issue and redeem shares only to Authorized Participants (typically broker-dealers) in exchange for the deposit or delivery of a basket of assets (securities and/or cash) in large blocks, known as Creation Units, each of which is comprised of 25,000 shares.
 
SH – ProShares Short S&P 500 ETF
 
Fees: Expense Ratio – 0.89%. The Advisor has contractually agreed to waive expenses from exceeding 0.95% through September 30, 2020.
 
Objective: The Fund seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the S&P 500 Index. The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
 
Strategy: The Fund will invest principally in the following financial instruments: Derivatives (including swap agreements and futures contracts), and Money Market Instruments (including U.S. Treasury Bills and Repurchase Agreements).The Fund seeks to engage in daily rebalancing to position its portfolio so that its exposure to the Index is consistent with the Fund’s daily investment objective. Daily rebalancing and the compounding of each day’s return over time means that the return of the Fund for a period longer than a single day will be the result of each day’s returns compounded over the period, which will very likely differ in amount, and possibly even direction, from the inverse (-1x) of the return of the Index for the same period. The fund is not actively managed and does not take defensive positions during changing market conditions. Investors in the Fund should actively manage and monitor their investments, as frequently as daily.
 
Risk: Investing in derivatives may be considered aggressive and may expose the Fund to greater risks and may result in larger losses or smaller gains than investing directly in the reference asset(s) underlying those derivatives.
 
Other Info: During the most recent fiscal year, the Fund’s annual portfolio turnover rate was 0% of the average value of its entire portfolio. The Fund will issue and redeem shares only to Authorized Participants (typically broker-dealers) in exchange for the deposit or delivery of a basket of assets (securities and/or cash) in large blocks, known as Creation Units, each of which is comprised of 25,000 shares.
 
ProShares are distributed by SEI Investments Distribution Co. For a prospectus go to proshares.com.
 

 
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