HOLD Stock, Harbor Alpha Layering ETF Information

The AdvisorShares Sage Core Reserves ETF seeks to preserve capital while maximizing income. Sage Advisory Services, Ltd. Co. (the Sub-Advisor) seeks to achieve the funds investment objective by investing in a variety of fixed income securities, including bonds, forwards and instruments issued by U.S. and foreign issuers. It will invest in U.S. dollar-denominated investment grade debt securities, including mortgage- or asset-backed securities, rated Baa- or higher by Moodys Investors Service, Inc. (Moodys), or equivalently rated by Standard & Poors Ratings Services (S&P) or Fitch, Inc. (Fitch), or, if unrated, determined by the Sub-Advisor to be of comparable quality.