CWS vs. MRGR ETF Comparison

Comparison of AdvisorShares Focused Equity ETF (CWS) to ProShares Merger ETF (MRGR)

CWS

AdvisorShares Focused Equity ETF

CWS Description

The AdvisorShares Focused Equity ETF seeks long-term capital appreciation. CWS aims to achieve its investment objective by investing primarily in a focused group of U.S. exchange-listed equity securities that the portfolio manager believes have favorable fundamental attributes.

Grade (RS Rating)

Last Trade

$61.15

Average Daily Volume

13,957

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MRGR

ProShares Merger ETF

MRGR Description

The investment seeks investment results, before fees and expenses, that track the performance of the S&P Merger Arbitrage Index (the "index"). The fund is designed to track the performance of the index and provide exposure to a global merger arbitrage strategy. The index, and by extension the fund, seeks to produce consistent, positive returns in virtually all market environments, although there are no assurances it will achieve this result. The fund is non-diversified. The index seeks to provide a risk arbitrage strategy that exploits commonly observed price changes associated with a global selection of publicly announced mergers, acquisitions and other corporate reorganizations. Historically, the index has exhibited market neutral characteristics, lower volatility compared to the S&P 500, and a low correlation to S&P 500 returns.

Grade (RS Rating)

Last Trade

$39.94

Average Daily Volume

1,393

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CWS	MRGR
30 Days	-3.30%	-0.87%
60 Days	-0.51%	-0.61%
90 Days	2.80%	-0.40%
12 Months	21.47%	5.98%

1 Overlapping Holdings

	Symbol	Grade	Weight in CWS	Weight in MRGR	Overlap
	MGRC	C	3.47%	2.37%	2.37%

CWS Overweight 22 Positions Relative to MRGR

Symbol	Grade	Weight
MLR	B	4.55%
APH	A	4.42%
HEI	A	4.41%
SYK	C	4.31%
OTIS	D	4.18%
TMO	B	4.16%
AFL	B	4.0%
ICE	C	4.0%
SLGN	B	3.97%
SAIC	C	3.94%
HSY	F	3.93%
FICO	D	3.92%
INTU	C	3.9%
CE	C	3.87%
AGM	B	3.82%
ABT	C	3.8%
MCO	D	3.78%
ROL	B	3.77%
BR	D	3.72%
AWK	C	3.53%
PII	F	3.52%
FDS	D	3.44%

CWS Underweight 25 Positions Relative to MRGR

Symbol	Grade	Weight
WRK	B	-3.29%
EVBG	B	-3.2%
ETRN	A	-2.87%
PXD	B	-2.83%
EDR	A	-2.65%
FUSN	A	-2.64%
SWAV	A	-2.64%
MODN	B	-2.63%
AIRC	A	-2.63%
MDC	A	-2.61%
ANSS	C	-2.61%
CERE	A	-2.59%
DOOR	A	-2.59%
AEL	A	-2.56%
DFS	A	-2.54%
JNPR	D	-2.54%
AXNX	D	-2.54%
NS	C	-2.52%
INBX	D	-2.49%
CHX	B	-2.49%
CTLT	C	-2.43%
HA	D	-2.38%
HES	A	-2.38%
X	D	-2.14%
CPRI	F	-1.83%