DWAW vs DWPP

AdvisorShares Dorsey Wright FSM All Cap World ETF

The investment seeks to provide long-term capital appreciation with capital preservation as a secondary objective. The fund is an actively managed exchange-traded fund ("ETF") that is primarily a "fund of funds." The Advisor seeks to achieve it's investment objective by investing in ETFs that invest primarily in domestic and foreign equity securities of any capitalization, including in emerging markets. The fund invests in fixed income ETFs with a short or ultra-short duration, money market funds, cash and cash equivalents ("Defensive Investments"). It may invest in affiliated and unaffiliated ETFs.

First Trust Dorsey Wright People's Portfolio ETF

The investment seeks investment results that correspond generally to the price and yield of an index called the Nasdaq Dorsey Wright People's Portfolio Index. The fund will normally invest at least 80% of its total assets in the common stocks or an exchange-traded fund ("ETF") that comprise the index. The index is a modified market-capitalization weighted index designed to tactically allocate exposure to one of three allocations: (i) Nasdaq US 500 Large Cap Index; (ii) Nasdaq US 500 Large Cap Equal Weight Index; or (iii) First Trust Enhanced Short Maturity ETF ("FTSM") (each, an "Underlying Allocation"), based on daily relative strength readings.