“In the current interest rate environment where many investors and advisors actively hunt for the dual goals of yield and mitigation of risk, we feel YPRO may help allow the flexibility to potentially achieve both objectives,” said Noah Hamman, chief executive officer of AdvisorShares, in the statement.
The new ETF will charge 1.42% per year, according to its web page.
Other well-known AdvisorShares ETFs include the AdvisorShares TrimTabs Float Shrink ETF (NYSEArca: TTFS) and the AdvisorShares Peritus High Yield ETF (NYSEArca: HYLD).
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of HYLD and TTFS.