AdvisorShares Plans Vice ETF

Proposed ‘sin’ ETF will target three heavily regulated industries: marijuana, tobacco and alcohol.
Reviewed by: Staff
Edited by: Staff

A filing from AdvisorShares outlines the firm’s plans to launch an actively managed ETF that will target companies involved in the tobacco, alcoholic beverage or marijuana industries. The AdvisorShares VICE ETF (ACT) is slated to list on the NYSE Arca and come with an expense ratio of 0.75%.

According to the prospectus, the fund selects securities of companies that derive at least half their net revenue from tobacco alcoholic beverages; the marijuana and hemp industries; or from legal research and development activities around cannabis-related products.

The fund will invest in U.S.-listed securities, including American depositary receipts. At least one-quarter of its portfolio will be investments in the food, beverage and tobacco industry, as a subset of the consumer staples sector.

It will also take a speculative approach to the cannabis industry by investing in companies that it expects to have future revenues from cannabis-related operations, the document said.

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