As ETFs continue to remain attractive and draw in more assets, AdvisorShares is planning to expand its lineup with two more ETFs, according to a filing with the SEC.
According to its prospectus filed with the SEC, the investment focus of WCM/BNY Mellon Focused Growth ADR ETF (AADR) will include of investing in industry-leading non-U.S. organizations, led by visionary management teams with sound business strategies.
Additionally, the fund’s investment objective is long-term capital appreciation above international benchmarks such as The Bank of New York Mellon Classic ADR Index, the MSCI EAFE Index and MSCI EAFE Growth Index.
It will be one of the few actively managed ETFs, utilizing WCM Investment Management, as an investment sub-advisor, and thus does not seek to replicate the performance of a specified index. An actively managed ETF uses an active investment strategy to meet its investment objective.
The second ETF it plans to launch is the Legacy Long/Short ETF (HDGE). The fund is a “fund of funds,” which means that the fund seeks to achieve its investment objective by investing primarily in other ETFs that each track the performance of a securities index and shares of certain exchange-traded products.
Kevin Grewal contributed to this article.