Total Net Expense Ratio Lowered for AADR, Top-Performing International Equity ETF

AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced today that the AdvisorShares Dorsey Wright ADR ETF (Ticker: AADR) has lowered its total net expense ratio to 0.89%, by contractually agreeing to reduce the fund’s expense limitation from 0.98% to 0.88%.1

The actively managed AADR has experienced increasing investor demand and recently surpassed $260 million in assets under management, which in turn has made the ETF more operationally-efficient allowing a reduction in its operating expenses. AADR, which also lowered its total net expense ratio in November 2017, carries a five-star Morningstar rating for its overall risk-adjusted performance and ranks among the top-performing international equity strategies among both mutual funds and ETFs.2

“As we’ve previously indicated, and are now fortunate to realize, we believed AADR’s continuous growth would lead to another opportunity to lower its total net expense ratio,” said Noah Hamman chief executive officer of AdvisorShares.

“AADR has consistently delivered benchmark-beating performance with full-transparency and we’re pleased that its shareholders may further benefit from this announcement. We feel that with Dorsey Wright’s exemplary portfolio management and their renowned expertise in relative strength investing, AADR may continue to see increased demand especially as its availability expands on different investment platforms.”

Dorsey, Wright & Associates (DWA), a Nasdaq company, serves as the portfolio manager of AADR. AADR’s investment approach adheres to DWA’s core philosophy of relative strength investing, which involves buying securities – domestically-traded American depositary receipts (ADRs) – that have appreciated in price more than other securities within its investment universe and holding those ADRs until they sufficiently underperform. AADR’s systematic investment process refrains from using fundamental company data and is based entirely on the market movement of international companies, which measures current sector and industry group allocations to maintain diversification within its portfolio. While no consideration is given to developed and emerging markets, AADR will allocate between the two depending on global price trends. AADR delivers a concentrated underlying portfolio of typically less than 40 equities that demonstrate favorable relative strength characteristics.

AADR Quarter-End Performance (through March 31, 2018)

NAV       Market Price      MSCI EAFE           BNY Mellon Classic

                Return  Index    ADR Index

Year-To-Date     -0.12%  -0.18%  -1.53%  -0.07%

One-Year             27.41%  27.05%  14.80%  17.35%

Three-Year         15.67%  15.73%  5.55%    6.66%

Five-Year             12.83%  12.85%  6.50%    6.59%

Since Inception   12.37%  12.38%  7.58%    7.09%

(7/20/2010)

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. For the fund’s most recent month end performance, please visit www.AdvisorShares.com.

AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced today that the AdvisorShares Dorsey Wright ADR ETF (Ticker: AADR) has lowered its total net expense ratio to 0.89%, by contractually agreeing to reduce the fund’s expense limitation from 0.98% to 0.88%.1

The actively managed AADR has experienced increasing investor demand and recently surpassed $260 million in assets under management, which in turn has made the ETF more operationally-efficient allowing a reduction in its operating expenses. AADR, which also lowered its total net expense ratio in November 2017, carries a five-star Morningstar rating for its overall risk-adjusted performance and ranks among the top-performing international equity strategies among both mutual funds and ETFs.2

“As we’ve previously indicated, and are now fortunate to realize, we believed AADR’s continuous growth would lead to another opportunity to lower its total net expense ratio,” said Noah Hamman chief executive officer of AdvisorShares.

“AADR has consistently delivered benchmark-beating performance with full-transparency and we’re pleased that its shareholders may further benefit from this announcement. We feel that with Dorsey Wright’s exemplary portfolio management and their renowned expertise in relative strength investing, AADR may continue to see increased demand especially as its availability expands on different investment platforms.”

Dorsey, Wright & Associates (DWA), a Nasdaq company, serves as the portfolio manager of AADR. AADR’s investment approach adheres to DWA’s core philosophy of relative strength investing, which involves buying securities – domestically-traded American depositary receipts (ADRs) – that have appreciated in price more than other securities within its investment universe and holding those ADRs until they sufficiently underperform. AADR’s systematic investment process refrains from using fundamental company data and is based entirely on the market movement of international companies, which measures current sector and industry group allocations to maintain diversification within its portfolio. While no consideration is given to developed and emerging markets, AADR will allocate between the two depending on global price trends. AADR delivers a concentrated underlying portfolio of typically less than 40 equities that demonstrate favorable relative strength characteristics.

AADR Quarter-End Performance (through March 31, 2018)

NAV       Market Price      MSCI EAFE           BNY Mellon Classic

                Return  Index    ADR Index

Year-To-Date     -0.12%  -0.18%  -1.53%  -0.07%

One-Year             27.41%  27.05%  14.80%  17.35%

Three-Year         15.67%  15.73%  5.55%    6.66%

Five-Year             12.83%  12.85%  6.50%    6.59%

Since Inception   12.37%  12.38%  7.58%    7.09%

(7/20/2010)

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. For the fund’s most recent month end performance, please visit www.AdvisorShares.com.