AdvisorShares Ranger Equity Bear ETF
Name
As of 11/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-3.1%
1 yr return
-16.5%
3 Yr Avg Return
-5.4%
5 Yr Avg Return
-19.5%
Net Assets
$71.5 M
Holdings in Top 10
109.9%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 3.68%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 11/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
HDGE - Profile
Distributions
- YTD Total Return -3.1%
- 3 Yr Annualized Total Return -5.4%
- 5 Yr Annualized Total Return -19.5%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio -4.49%
- Dividend Yield 9.8%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameAdvisorShares Ranger Equity Bear ETF
-
Fund Family NameAdvisorShares
-
Inception DateJan 26, 2011
-
Shares Outstanding4877500
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Del Vecchio
Fund Description
The Fund is an actively managed exchange-traded fund (“ETF”). Ranger Alternative Management, L.P. (the “Sub-Advisor”) seeks to achieve the Fund’s investment objective by short selling a portfolio of liquid mid- and large-cap U.S. exchange-traded equity securities, ETFs, exchange-traded notes (“ETNs”), and other exchange-traded products (collectively with ETFs and ETNs, “ETPs”). Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in short positions in equity securities.
The Sub-Advisor implements a bottom-up, fundamental, research driven security selection process that seeks to identify securities with low earnings quality or aggressive accounting that may tend to mask operational deterioration and bolster the reported earnings per share over a short time period. In addition to these issues, the Sub-Advisor seeks to identify earnings driven events that may act as a catalyst to the price decline of a security, such as downwards earnings revisions or reduced forward earnings outlook. In addition to extensive quantitative analysis, careful consideration is given to qualitative analysis. The assessment of the management team, accounting practices, corporate governance and the company’s competitive advantage are all key items. Once these quantitative and qualitative characteristics are thoroughly analyzed, the Sub-Advisor then determines if there is sufficient return to the stock price to warrant an investment. Once a position is included in the Fund’s portfolio, it is subject to regular fundamental and technical risk management review. This continual review process seeks to identify problem positions early and enhances performance by removing them before they become significant issues for the portfolio. The Fund’s strategy may frequently involve buying and selling securities, which may lead to relatively high portfolio turnover.
On a day-to-day basis, for investment purposes and to cover its short positions, the Fund may hold U.S. government securities, short-term high quality fixed income securities, money market instruments, overnight and fixed-term repurchase agreements, cash and cash equivalents with maturities of one year or less, and ETFs that invest in these types of instruments.
HDGE - Performance
Return Ranking - Trailing
| Period | HDGE Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -3.1% | -75.9% | 35.5% | 10.24% |
| 1 Yr | -16.5% | -83.8% | 16.5% | 18.11% |
| 3 Yr | -5.4%* | -64.2% | 5.3% | 38.58% |
| 5 Yr | -19.5%* | -76.4% | 8.0% | 44.00% |
| 10 Yr | -16.1%* | -71.1% | 13.0% | 39.13% |
* Annualized
Return Ranking - Calendar
| Period | HDGE Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -33.4% | -85.3% | 15.3% | 70.08% |
| 2022 | 16.6% | -73.7% | 116.7% | 50.39% |
| 2021 | -18.6% | -80.9% | 94.9% | 27.56% |
| 2020 | -43.5% | -96.0% | 153.8% | 54.33% |
| 2019 | -36.4% | -84.0% | -9.3% | 53.60% |
Total Return Ranking - Trailing
| Period | HDGE Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -3.1% | -75.9% | 35.5% | 10.24% |
| 1 Yr | -16.5% | -83.8% | 16.5% | 18.11% |
| 3 Yr | -5.4%* | -64.2% | 5.3% | 38.58% |
| 5 Yr | -19.5%* | -76.4% | 8.0% | 44.00% |
| 10 Yr | -16.1%* | -71.1% | 13.0% | 39.13% |
* Annualized
Total Return Ranking - Calendar
| Period | HDGE Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -26.9% | -84.6% | 18.9% | 59.84% |
| 2022 | 16.6% | -73.6% | 117.2% | 53.54% |
| 2021 | -18.6% | -80.9% | 94.9% | 27.56% |
| 2020 | -43.5% | -95.9% | 153.8% | 54.33% |
| 2019 | -36.3% | -83.8% | -8.6% | 56.00% |
HDGE - Holdings
Concentration Analysis
| HDGE | Category Low | Category High | HDGE % Rank | |
|---|---|---|---|---|
| Net Assets | 71.5 M | 269 K | 3.02 B | 25.38% |
| Number of Holdings | 70 | 4 | 799 | 11.54% |
| Net Assets in Top 10 | 74.4 M | 353 K | 2.88 B | 19.23% |
| Weighting of Top 10 | 109.87% | 37.3% | 230.5% | 31.54% |
Top 10 Holdings
- BlackRock Liquidity FedFund 86.87%
- FIDELITY INSTITUTIONAL MONEY MARKET GOVERNMENT PORTFOLIO ? CLASS III 29.65%
- Materion Corp -0.24%
- Columbia Financial Inc -0.40%
- Xerox Holdings Corp -0.86%
- Adtalem Global Education Inc -1.01%
- Wolfspeed Inc -1.01%
- Valley National Bancorp -1.03%
- Restaurant Brands International Inc -1.04%
- Global-e Online Ltd -1.07%
Asset Allocation
| Weighting | Return Low | Return High | HDGE % Rank | |
|---|---|---|---|---|
| Cash | 194.54% | 0.00% | 237.06% | 1.54% |
| Preferred Stocks | 0.00% | 0.00% | 0.00% | 31.54% |
| Other | 0.00% | -62.82% | 156.23% | 75.38% |
| Convertible Bonds | 0.00% | 0.00% | 2.47% | 36.15% |
| Bonds | 0.00% | 0.00% | 92.50% | 46.15% |
| Stocks | -94.54% | -106.26% | 100.00% | 98.46% |
HDGE - Expenses
Operational Fees
| HDGE Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 3.68% | 0.59% | 8.36% | 14.96% |
| Management Fee | 1.50% | 0.35% | 1.50% | 100.00% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 13.92% |
| Administrative Fee | 0.03% | 0.03% | 0.45% | 2.50% |
Sales Fees
| HDGE Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.75% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| HDGE Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| HDGE Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 181.00% | 75.86% |
HDGE - Distributions
Dividend Yield Analysis
| HDGE | Category Low | Category High | HDGE % Rank | |
|---|---|---|---|---|
| Dividend Yield | 9.77% | 0.00% | 17.26% | 8.46% |
Dividend Distribution Analysis
| HDGE | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Quarterly | Quarterly |
Net Income Ratio Analysis
| HDGE | Category Low | Category High | HDGE % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -4.49% | -7.24% | 3.75% | 98.28% |
Capital Gain Distribution Analysis
| HDGE | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 26, 2023 | $1.835 | OrdinaryDividend |
| Dec 27, 2019 | $0.116 | OrdinaryDividend |
HDGE - Fund Manager Analysis
Managers
John Del Vecchio
Start Date
Tenure
Tenure Rank
Jan 26, 2011
11.35
11.4%
Mr. Del Vecchio serves both as a Portfolio Manager and profits participant of the Ranger Alternative Management, L.P through his interest in Sand Dollar Beach, LLC, an entity which he jointly controls. Prior to developing and managing the Fund, Mr. Del Vecchio served as a short only portfolio manager for Ranger Alternative Management, L.P from August 2007 until May 2010. Mr. Del Vecchio founded in 2010, and continues to serve as principal of, Parabolix Research, LLC, a short-only institutional research firm. Mr. Del Vecchio founded in 2013, and continues to serve as Managing Member of, Index Deletion Strategies, LLC, which created and maintains the Del Vecchio Earnings Quality Index. Prior to joining Ranger Alternative Management, L.P, Mr. Del Vecchio served as an Analyst with David W. Tice & Associates/Behind the Numbers, LLC from 2003 through 2007, selecting short sale opportunities utilizing forensic accounting research for institutional clients and the Prudent Bear Fund. In 2002, Mr. Del Vecchio served as portfolio manager of RedHawk Advisors, LLC, with responsibility for managing the short sale allocation of a fund. In 2001, Mr. Del Vecchio served as an Analyst for the Center for Financial Research and Analysis performing forensic accounting analysis for short sale opportunities on Technology, Business Services and Industrial companies. From 2000 through 2001, Mr. Del Vecchio served as an Analyst for The Motley Fool. From 1998 through 1999, Mr. Del Vecchio served as a Jr. Quantitative Analyst for the international division of Federated Investors, developing models for international equity investing. Mr. Del Vecchio earned a B.S. in Finance, Summa Cum Laude, from Bryant College and was also awarded Beta Gamma Sigma honors in business. Mr. Del Vecchio earned the right to use the Chartered Financial Analyst designation in September, 2001.
Brad Lamensdorf
Start Date
Tenure
Tenure Rank
Jan 26, 2011
11.35
11.4%
Mr. Lamensdorf is the founder and President of the Active Alts Inc. Mr. Lamensdorf also founded BHL Advisers, LLC in 2006 to, among other things, provide investment advice to a commodity-oriented hedge fund (BHL Partners, LP) primarily focused on gold equities. Since January 2013, Mr. Lamensdorf has also led the production of The Lamensdorf Market Timing Report, a newsletter which provides subscribers with technical analysis, and since 2009, Mr. Lamensdorf has been a portfolio manager and principal of Ranger Alternative Management, L.P., a registered investment adviser which provides trading and marketing strategy for short-only portfolios. From November 2007 to December 2012, Mr. Lamensdorf served as a principal of Precisian GP, LLC and a portfolio manager of Precisian Partners L.P., an options volatility manager. From 1998 to 2005, Mr. Lamensdorf served as a principal of Tarpon Capital Management, L.P. and the portfolio manager for Tarpon Partners, L.P., an un-leveraged long/short strategy that focused on relative strength. From 1992 to 1997, Mr. Lamensdorf worked on the equity trading desk for Taylor & Company, the trading unit of Bass Brothers Enterprises, in Fort Worth, Texas, where he co-managed an equity portfolio focused solely on short selling and derivatives strategies. Mr. Lamensdorf received a B.A. in Psychology from the University of Texas at Austin in 1992.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.16 | 23.76 | 9.04 | 14.22 |