AdvisorShares has made some major changes to its buyback ETF, a fund that already underwent a manager change in June 2016. The $88 million AdvisorShares Wilshire Buyback ETF (TTFS) has a new name and ticker as of Oct. 11: AdvisorShares DoubleLine Value Equity ETF (DBLV).
Wilshire Associates has been removed as manager of TTFS and replaced by DoubleLine Equity LP, an affiliate of well-known DoubleLine Capital LP, which manages the $3 billion SPDR DoubleLine Total Return Tactical ETF (TOTL).
TTFS, now DBLV, had underperformed the SPDR S&P 500 ETF Trust (SPY) significantly year-to-date. Originally, TTFS was managed by TrimTabs, which was then replaced by Wilshire Associates a little more than two years ago.
Under DoubleLine, the ETF is shifting its focus to a fundamental value strategy rather than focusing on buybacks as it did under Wilshire or the float shrink strategy it implemented under TrimTabs.
Contact Heather Bell at [email protected]