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(AGLS) Accuvest Global Long Short ETF

Overview

How AGLS Works

The AdvisorShares Accuvest Global Long Short ETF (NYSE Arca: AGLS) seeks to provide average annual returns in excess of the total return of the MSCI World Index. AGLS is managed by Accuvest Global Advisors (“Portfolio Manager”). The Portfolio Manager seeks to achieve the Fund’s objective by investing in long positions in the most attractive U.S. listed country-specific exchange traded funds (ETFs) combined with short positions in the least attractive country-specific ETFs. By doing this, the Sub-Advisor seeks to profit from the relative performance between long and short positions in global regions, countries, styles and sectors.

Fund Documents

Portfolio Manager Commentaries

Portfolio Manager's Video

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AGLS in the News

The following reprints should not be construed as an offer to sell or a solicitation of an offer to buy shares of any other funds. They are provided for informational purposes for AdvisorShares only.
05/07/2014 - Lau, Ashley. "Strategic European equities ETFs outperform, lure U.S. investors." http://in.reuters.com/article/2014/05/07/us-europe-etfs-idINBREA460SY20140507
12/31/2013 -

AdvisorShares Press Release, AdvisorShares Announces December 2013 Distributions

11/13/2013 - Macke, Jeff. "Brazil Preparing for World Cup and Olympics, Still Isn’t Ready for Investors." http://finance.yahoo.com/blogs/breakout/brazil-preparing-world-cup-olympics-still-isn-t-194355675.html
11/07/2013 - "The One IPO on Earth That Might Matter…And It’s Not Twitter." http://finance.yahoo.com/blogs/breakout/one-ipo-earth-might-matter-not-twitter-200522461.html

Performance -Month-End

AGLS Performance History (%) as of 08/31/2014
 NAVMarket Price ReturnMSCI World Index
1 Month 0.33 0.382.20
3 Months 1.64 1.592.37
YTD -4.95-4.916.79
1 Year -1.91 -1.7221.10
2 Years -0.56 -0.5419.35
3 Years -0.38 -0.4015.48
4 Years -4.18 -4.1815.23
Since Inception
(7/8/2010, Annualized)
-3.64 -3.6414.61

Performance -Quarter-End

AGLS Performance History (%) as of 06/30/2014
 NAVMarket Price ReturnMSCI World Index
1 Month -0.24 -0.291.79
3 Months -0.53 -0.484.86
YTD -6.71-6.676.18
1 Year -5.08 -5.7324.05
2 Years -1.14 -1.1921.28
3 Years 0.27 0.2711.81
Since Inception
(7/8/2010, Annualized)
-4.25 -4.2515.11

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.

The performance for periods before 12/01/11 is for the AdvisorShares Mars Hill Global Relative Value ETF (the "Predecessor Fund") which was renamed the AdvisorShares Accuvest Global Long Short ETF on 12/01/11. The Predecessor Fund had different portfolio managers and investment strategy than the Accuvest Global Long Short ETF. Performance prior to 12/01/11 reflects the Fund's performance prior to the change in manager and investment strategy and may not be indicative of the Fund's performance under the new manager and revised investment strategy. Performance since 12/01/11 reflects actual Accuvest Global Long Short ETF performance.

The MSCI World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets. One cannot invest directly in an index.

Fund Distributions

Ex-DateRecord DatePay DateCash DivST Cap GainLT Cap GainReturn of CapitalTotal Distribution
12-29-14
12-31-14
01-05-15
-----
12-27-13
12-31-13
01-03-14
$0.00$0.00$0.00$0.00$0.00/per share
12-27-12
12-31-12
01-03-13
$0.00$0.00$0.00$0.00$0.00/per share
12-28-11
12-30-11
01-04-12
$0.00$0.308$0.00$0.00$0.308/per share
12-29-10
12-31-10
01-05-11
$0.00$0.00$0.00$0.00$0.00/per share
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Why Invest in AGLS

  • For an Alpha-Seeking Global Equity Allocation - AGLS seeks to generate alpha above global equity benchmarks.
  • To Minimize Individual Security Risk - By using single-country ETFs, AGLS’s portfolio is constructed to minimize individual security risk while providing an investor diversified exposure to a country’s equity market.
  • For Cost Savings - By purchasing ETFs on the U.S. market, investors may realize significant savings over buying 2,000 individual securities on 30 local exchanges. ETFs represent very large aggregate portfolios and thus minimize the custody, reporting and transactions costs of operating in the local markets. (ETFs are subject to commission costs each time you buy or sell.)
  • For an Innovative Way to Invest Globally - The Portfolio Manager, an early adopter of top-down country investment strategies, offers investors, through their proprietary country ranking model, an innovative way to invest globally. Instead of focusing on a single set of factors, the Portfolio Manager uses a broad range of factors in the following distinct groups: Valuation, Risk, Fundamental, and Momentum. This multi-factor model may minimize “model risk” during times of extended market moves in one direction or another.

5 Key Attributes

  1. Global Country Ranking Strategy - The Portfolio Manager utilizes a proprietary country ranking model which ranks countries from most attractive to least attractive, on a monthly basis, based on a broad range of nearly 40 different factors. Single-country ETFs representing the highly-ranked countries are considered for the long portion of AGLS while the least-ranked countries are considered to be sold short.
  2. Top Down Investing - The Portfolio Manager follows a top-down concentrated investment strategy in that they evaluate and select countries, not individual equities, within the MSCI AC World Index.
  3. Global Focus - The AGLS portfolio manager does not limit their investment universe to a single type of stock, sector, country or region. They maintain a global portfolio of ETFs that offer diversified exposure.
  4. Consistent, Disciplined Investment Process - The Portfolio Manager’s investment process has not changed over time, and they consistently evaluate factors that influence country returns.
  5. Experienced Global Investment Strategists - The Portfolio Manager is made up of investment professionals whose global markets experience spans over 3 decades.

About the Portfolio Managers

David Garff, CIMA – President & Portfolio Manager
David heads the Investment Committee, Portfolio Management and Research teams at Accuvest. His responsibilities include oversight of the firm’s asset allocation process, CST investment strategy, country selection model and hedge fund of funds portfolios. He began his investment career in 1992 with Merrill Lynch, and then spent 10 years as a consultant with Smith Barney. David graduated with a B.A. in Economics and Spanish Translation from Brigham Young University, and a Masters Degree in Business Administration, with a concentration in Finance, from the Haas School of Business at the University of California, Berkeley. He earned the Certified Investment Management Analyst designation as well as an Alternative Investments Certificate, both taught under the joint auspices of the Wharton School of Business, and the Investment Management Consulting Association.

Brad Jensen, CIMA – Managing Director & Portfolio Manager
Brad heads the Global Strategy team for Accuvest and is also a member of the Investment Committee, and is a Senior Portfolio Manager. His responsibilities include investment strategy, asset allocation, portfolio management and security selection. He earned his MBA in international finance from The Thunderbird School of Global Management. He has over twenty-five years of investment experience. Brad earned the Certified Investment Management Analyst designation under the joint auspices of the Wharton School of Business, and the Investment Management Consulting Association.

David Allen – Senior Associate & Portfolio Manager
David is a member of the Investment Committee, the Portfolio Management team, and serves as the firm’s Chief Compliance Officer. His responsibilities also include firm-wide communication, marketing and institutional business development. David joined Accuvest Global Advisors in 2006 after completing his bachelor’s degree from the Marshall School of Business at the University of Southern California.

Chris Heyman – Senior Associate & Portfolio Manager
Chris is a member of the Investment Committee and Portfolio Management team. His responsibilities include portfolio implementation, reporting, and operations for the firm. He has received Advent’s Back Office and Performance Certifications. Chris joined Accuvest Global Advisors in 2008 after working for William Wright Associates Limited from 2006-2007. He holds a bachelor’s degree from the Marriot School of Business at Brigham Young University.

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Fund Basics

  • Symbol

    AGLS

  • Exchange

    NYSE Arca

  • Inception Date

    07/08/2010

  • CUSIP

    00768Y404

  • Indicative Value

    AGLS.IV

  • Options

    No

Manager Minutes, September 2014

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Price History

As of: 09/17/2014
NAV$20.70Closing Price$20.61
Change$-0.04Change
Shares Outstanding1,300,000Volume
4PM Bid/Offer Midpoint$20.69Premium/Discount$-0.01
Assets Under Management$26,914,597.98
Premium/Discount Historical Data

 

Top Long Holdings

As of: 09/17/2014
Ticker Name Weight
--- CASH 59.03%
MCHI ISHARES MSCI CHINA ETF 12.61%

Top Short Holdings

As of: 09/17/2014
Ticker Name Weight
EWG ISHARES MSCI GERMANY INDEX SWAP -5.07%
EWN ISHARES MSCI NETHERLANDS INVEST MKT INDEX -5.06%
EWI ISHARES MSCI ITALY INDEX FUND - SWAP 04/09/2015 -5.05%
EWL ISHARES MSCI SWITZERLAND INDEX FUND SWAP -5.04%
EWC ISHARES MSCI CANADA ETF SWAP -5.03%
EWQ ISHARES MSCI FRANCE ETF SWAP -5.03%

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. Holdings and allocations are subject to risks and to change.

Fees & Expenses

  • Management Fee

    1.35%

  • Short Interest Expense

    2.46%

  • Other Expenses

    0.44%

  • Acquired Fund Fees

    0.32%

  • Gross Expense Ratio

    4.57%

  • Fee Waiver and/or Expense Reimbursement

    0.29%

  • Net Expense Ratio

    4.28%*

  • *The Advisor has contractually agreed to keep net expenses from exceeding 1.50% of the Fund’s daily net assets for at least a year from the date of the Prospectus and for an indefinite period thereafter subject to annual reapproval of the agreement by the Board of Trustees. This agreement is limited to the Fund’s direct operating expenses and, therefore, does not apply to “Acquired Fund Fees and Short Interest Expenses."