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ETF Profile for VEGA

Top Holdings

Symbol Company Name % of Holdings
SPY SPDR S&P 500 ETF TRUST 43.2
EFA ISHARES MSCI EAFE ETF 9.44
IGSB ISHARES SHORT-TERM CORPORATE 5.56
XLK TECHNOLOGY SELECT SECTOR SPDR FUND 3.85
XLY CONSUMER DISCRETIONARY SELT 3.72
BKLN INVESCO SENIOR LOAN ETF 3.68
XLP CONSUMER STAPLES SELECT SECTOR SPDR FUND 3.68
LMBS FIRST TRUST LOW DURATION OPP 3.64
HYGH ISHARES INT RATE HEDG HY ETF 3.62

Portfolio Characteristics

  • Assets Under Management
  • 14,670
  • Expense Ratio
  • 2.06%
  • Expense Gross
  • 2.06%
  • Shares Outstanding         
  • 450
  • Expense Ratio Net
  • 2.06%
  • Options
  • Yes

ETF Description

The AdvisorShares STAR Global Buy-Write ETF seeks consistent repeatable returns across all market cycles. VEGA is sub-advised by Partnervest Advisory Services, LLC (Portfolio Manager). The Portfolio Manager seeks to achieve the investment objective by using a proprietary strategy known as Volatility Enhanced Global Appreciation (VEGA). VEGA is primarily a fund of funds and employs a Buy-Write or Covered Call overlay for its global allocation strategy using Exchange Traded Products (ETPs). According to the internal benchmark policy, the Portfolio Manager will use both ETFs and individual equities to implement its tactical allocation strategy in which the volatility of each of the underlying positions determines the amount of option hedging. During periods of high volatility, the Portfolio Manager will write (or sell) a call option against some of its positions in order to hedge downside risk, while generating an income stream from the sale of options. At any given time, approximately 60% to 85% of VEGA?s positions will have covered options. Additionally when volatility is low, the portfolio manager buys protective put options to manage downside risk. *The Advisor has contractually agreed to keep net expenses from exceeding 1.85% of the Fund%u2019s average daily net assets for at least one year from the date of the prospectus and for successive one-year periods thereafter unless the agreement is terminated.