SOURCE: AdvisorShares


December 01, 2010 10:00 ET

AdvisorShares Launches the Peritus High Yield ETF (NYSE: HYLD)

HYLD Is the First Actively Managed High Yield Bond ETF

BETHESDA, MD--(Marketwire - December 1, 2010) -  AdvisorShares Investments, LLC, an innovator of actively managed Exchange Traded Funds (ETFs), today announced that the Peritus High Yield ETF (NYSE: HYLD) successfully began trading on the NYSE. HYLD is managed by Peritus Asset Management ("Peritus"), a Santa Barbara, California-based investment manager.

Peritus is a unique value focused, active credit manager capitalizing on opportunities in the corporate bond market. They place limited value on the rating agencies and their methodologies, believing the agencies lag the market perception of risk and often ignore critical components of a company's credit profile. Instead, Peritus views credit as either "AAA" or "D"; either the credit is expected to pay its coupon and principal obligations or it isn't. By avoiding arbitrary restrictions on aspects such as ratings and subordination and not being forced to take the one-of-everything approach as in the index products, Peritus is able to focus exclusively on the credits where they see the best risk reward. 

Noah Hamman, CEO and Founder of AdvisorShares, said, "We are very excited to be the first Firm to offer an actively managed high yield bond ETF to investors, and as identified by an active ETF panel at this year's Morningstar ETF conference, high yield is one of the top asset classes that benefits from professional active management." Hamman added, "The Peritus team averages over 15 years of experience specializing in high yield corporate bonds. In addition they have extensive trading experience and the relationships to find the best opportunities."

Tim Gramatovich, Chief Investment Officer of Peritus, said, "We are very excited to have launched HYLD with AdvisorShares as we believe many investors have begun to realize the benefits of yield in their portfolios. Delivering this via an ETF brings both transparency and liquidity to a much misunderstood asset class. Given the massive size of the marketplace, we believe that we have the tools to manage this portfolio through any and all environments and as such view HYLD as an active credit fund with all season tires."

To request more information on AdvisorShares, please contact Noah Hamman at 202-684-6383 or For media inquiries, please contact Richard Stern at 212-888-0044 or

About AdvisorShares

AdvisorShares is a turnkey platform for investment managers seeking to offer their investment strategy in an actively managed ETF. AdvisorShares works with experienced money managers to combine their money management strategies with the benefits the ETF structure provides. AdvisorShares provides sales, marketing and educational support to help financial advisors utilize AdvisorShares ETFs to help them achieve their client's investment goals and objectives. AdvisorShares is pleased to offer actively managed ETFs, including the Dent Tactical ETF (NYSE: DENT), the Mars Hill Global Relative Value ETF (NYSE: GRV), the WCM/BNY Mellon Focused Growth ADR ETF (NYSE: AADR), the Cambria Global Tactical ETF (NYSE: GTAA) and the Peritus High Yield ETF (NYSE: HYLD), and is dedicated to investor education. is the majority owner of AdvisorShares Investments, LLC. Visit our website at to learn more about us. Follow the AdvisorShares Team on Twitter or 'Like' us on Facebook.

About Peritus Asset Management

Peritus Asset Management is an employee owned SEC registered investment advisor headquartered in Santa Barbara, California. Founders Tim Gramatovich and Ron Heller began their partnership in 1995. Peritus is a value based, active credit investment manager providing services to institutional and qualified retail markets. Visit their website at

Before investing you should carefully consider the Fund's investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by visiting the Fund's website at Please read the prospectus carefully before you invest.

Foreside Fund Services, LLC, distributor.

An investment in the Fund is subject to risk, including the possible loss of principal amount invested. Non-diversification exposes the Fund to greater market risk than if its assets were diversified among a greater number of issuers and/or sectors. High yield, lower rated bonds involve a greater degree of risk than investment grade bonds in return for higher yield potential. As such, securities rated below investment grade generally entail greater credit, market, issuer and liquidity risk than investment grade securities. Interest rate risk occurs when interest rates rise as bond prices usually fall. This Fund may not be suitable for all investors. Newly organized, actively managed Funds have no trading history and there can be no assurance that active trading markets will be developed or maintained.

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