CWS – AdvisorShares Focused Equity ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks long-term capital appreciation. The fund seeks to achieve its investment objective by investing primarily in a focused group of U.S. exchange listed equity securities, including common and preferred stock and ADRs. It invests at least 80% of its net assets in equity securities. The Advisor allocates the fund's portfolio investments using research obtained from a model developed by Edward J. Elfenbein, which uses a variety of methods for security selection and focuses on firms that are fundamentally sound and have shown consistency in their financial results and high earnings quality.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
CWS	AdvisorShares Focused Equity ETF	ETF	Open			Sep 20, 2016	$114.85M	0.650%	—	—	−$68.61M

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