DWAW vs GRID

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 NASDAQ Clean Edge Smart Grid Infrastructure Index

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the NASDAQ OMX® Clean Edge® Smart Grid Infrastructure IndexSM. The fund will normally invest at least 90% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the index. The index includes companies that are primarily engaged and involved in electric grid, electric meters and devices, networks, energy storage and management, and enabling software used by the smart grid infrastructure sector. The fund is non-diversified.