DWSH vs FCEF

AdvisorShares Dorsey Wright Short ETF

The investment seeks capital appreciation through short selling securities. Dorsey, Wright & Associates, LLC (the "Sub-Advisor"), the sub-advisor to the fund, seeks to achieve the fund's investment objective by obtaining short exposure to investment returns of the broad U.S. large-capitalization equity market by engaging in short sales of U.S.-traded equity securities and exchange-traded funds ("ETFs"). Under normal circumstances, it invests at least 80% of its net assets (plus any borrowings for investment purposes) in investments that create or result in short exposure to U.S. equity securities.

First Trust CEF Income Opportunity ETF

The investment seeks to provide current income with a secondary emphasis on total return. The fund seeks to achieve its investment objectives by investing at least 80% of its net assets (including investment borrowings) in a portfolio of closed-end investment companies that are listed and traded in the United States on registered exchanges. In selecting the closed-end funds for it's portfolio, the fund's investment advisor utilizes a range of investment approaches.