AdvisorShares YieldPro ETF (YPRO)

The AdvisorShares YieldPro ETF was an actively managed exchange-traded fund that sought to generate income while managing risk. Rather than buying individual bonds, it allocated across other income-oriented ETFs covering areas such as corporate and high-yield bonds, Treasuries, preferred stock and other yield-producing assets. The managers could shift the mix tactically as market conditions changed. The strategy also aimed to dampen volatility and protect against sharp drawdowns. It traded under the symbol YPRO.

The fund was launched in March 2014 by AdvisorShares, a Bethesda, Maryland sponsor known for its lineup of actively managed ETFs run by outside portfolio managers. It initially listed on NYSE Arca and later traded on Nasdaq. YieldPro arrived at a time when investors were searching for yield in a low interest rate environment and many new income products were competing for assets. The fund never gathered a large asset base.

In 2016 the board of trustees of AdvisorShares Trust approved a plan to liquidate the fund, a common outcome for small ETFs that fail to attract enough assets to be economical. Shareholders were informed through a prospectus supplement that the fund would stop accepting creation orders and would close. The last day of trading on Nasdaq was October 24, 2016. After that, the fund wound down its positions.

Remaining shareholders received a cash distribution equal to their share of net assets on or about October 31, 2016. The YPRO ticker was then retired. AdvisorShares continued to operate other actively managed ETFs. Investors seeking similar exposure generally turned to broad income, high-yield or preferred stock ETFs.