ETF Evaluator:
AdvisorShares STAR Global Buy-Write ETF ()
Follow This ETF
(as of Nov 13)
Best Performing in Derivative Income - Diversified Over the Last Year
| 24.9% | Federated Hermes Enhanced Income ETF (PAYR) |
| 21.1% | Amplify COWS Covered Call ETF (HCOW) |
| 20.5% | Parametric Equity Premium Income ETF (PAPI) |
| 20.2% | First Trust Small Cp BuyWrt Inc ETF (FTKI) |
| 19.9% | Cullen Enhanced Equity Income ETF (DIVP) |
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ETF Details
AdvisorShares STAR Global Buy-Write ETF Overview
AdvisorShares STAR Global Buy-Write ETF (VEGA) is an actively managed Nontraditional Equity Derivative Income - Diversified exchange-traded fund (ETF). AdvisorShares launched the ETF in 2012.
The investment seeks consistent repeatable returns across all market cycles.
The fund is an actively managed exchange-traded fund ("ETF") that is primarily a "fund of funds". It invests in ETFs and exchange-traded notes ("ETNs") that seek to track a diversified basket of global indices and investment sectors that meet certain selection criteria established by the sub-advisor. It also may invest, subject to the same selection criteria, in exchange-traded products that invest directly in commodities or currencies and that are registered only pursuant to the Securities Act of 1933 (collectively with ETFs and ETNs, "ETPs").
About AdvisorShares STAR Global Buy-Write ETF (VEGA)
There are 2 members of the management team with an average tenure of 8.69 years: Kenneth Hyman (2012) and Matthew Heimann (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: MSCI ACWI NR USD index with a weighting of 100%. AdvisorShares STAR Global Buy-Write ETF has 12 securities in its portfolio. The top 10 holdings constitute 96.4% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
AdvisorShares STAR Global Buy-Write ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. AdvisorShares STAR Global Buy-Write ETF has 21.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 49.0% There is 19.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 27.9% (25.2% domestic bond, 2.7% foreign bond and 0.0% convertible bond). AdvisorShares STAR Global Buy-Write ETF has 4.7% of the portfolio in cash.
Assets Under Management
The fund has $93 million in total assets, which is below the $1 billion average for the Derivative Income - Diversified category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
VEGA Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The AdvisorShares STAR Global Buy-Write ETF expense ratio is high compared to funds in the Derivative Income - Diversified category. AdvisorShares STAR Global Buy-Write ETF has an expense ratio of 1.25%, which is 71% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. AdvisorShares STAR Global Buy-Write ETF has a portfolio turnover rate of 4%, which indicates that it holds its assets around / 0.3 years. By way of comparison, the average portfolio turnover is 65% for the Derivative Income - Diversified category.
Recently, in the month of October 2026, AdvisorShares STAR Global Buy-Write ETF returned -0.6%, which earned it a grade of C, as the Derivative Income - Diversified category had an average return of -2.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
AdvisorShares STAR Global Buy-Write ETF has a trailing yield of 1.26%, which is below the 6.26% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
AdvisorShares STAR Global Buy-Write ETF Grades
Year to date, the ETF has returned 5.9%, 3.1 percentage points worse than the category, which translates into a grade of F. The fund has returned 6.5% over the past year (grade of F), 15.0% over the past three years (grade of D) and 6.1% per year over the past five years (grade of D) and 7.6% per year over the past 10 years (grade of D).
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VEGA Trailing NAV Total Returns Data as of 10/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| VEGA Return (NAV) | -0.6% | -0.1% | 6.5% | 15.0% | 6.1% | 7.6% |
| VEGA Return (Price) | -0.6% | 0.1% | 6.9% | 15.1% | 6.1% | 7.7% |
| NAV +/- Price Return | -0.038% | -0.183% | -0.423% | -0.074% | -0.034% | -0.061% |
| Derivative Income - Diversified Avg | -2.0% | 0.9% | 10.1% | 16.5% | 8.1% | 8.1% |
| VEGA Grade (NAV) | C | D | F | D | D | D |
| +/- Category (NAV) | 1.3% | -1.0% | -3.6% | -1.5% | -2.0% | -0.4% |
| VEGA Tax-Cost Ratio | na | na | 0.4% | 0.4% | 0.5% | 0.3% |
VEGA Annual NAV Total ReturnsData as of 10/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VEGA Return (NAV) | 5.9% | 15.2% | 11.9% | 15.5% | -15.2% | 12.2% | 7.8% | 19.8% | -6.4% | 12.1% | 6.8% |
| VEGA Return (Price) | 6.1% | 15.8% | 11.2% | 15.1% | -15.0% | 12.4% | 8.4% | 19.3% | -6.6% | 11.5% | 7.7% |
| NAV +/- Price Ret | 0.043% | 0.039% | -0.057% | -0.025% | -0.014% | 0.016% | 0.079% | -2.6% | 3.4% | -5.1% | 12.7% |
| Derivative Income - Diversified Avg | 8.9% | 13.8% | 15.9% | 16.3% | -11.8% | 19.1% | 3.7% | 19.2% | -5.9% | 14.0% | 7.1% |
| VEGA Grade (NAV) | F | B | D | C | D | F | B | C | D | D | C |
| +/- Category | -3.1% | 1.4% | -4.1% | -0.8% | -3.4% | -7.0% | 4.1% | 0.6% | -0.4% | -1.9% | -0.2% |
| Risk Measures | |
| Beta: | 0.64 |
| R-Squared: | 92% |
| Standard Deviation: | 8.5% |
| Category Risk Index: | 0.82 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 0.70 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 1.3% |
| Total Assets: | $ 93 Mil |
| Share Class Assets: | $ 93 Mil |
| Turnover: | 4.0% |
| Expense Ratio: | 1.25% |
| Index Fund: | No |
| Index Tracked: | MSCI ACWI NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 14.1 years | |||
| Average Tenure: 8.7 years | |||
| Managers (Year): Hyman Kenneth (2012), Heimann Matthew (2023) | |||
Portfolio Composition (as of 10/30/26)
| # of Holdings: | 12 |
| % in Top 10 Holdings: | 96.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 21.7% |
Portfolio Allocation |
|
| Domestic Stock: | 49.0% |
| Foreign Stock: | 19.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 25.2% |
| Foreign Bond: | 2.7% |
| Convertible Bond: | 0.0% |
| Other: | -0.7% |
| Cash: | 4.7% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | AdvisorShares |
| Phone Number: | 877-843-3831 |
| Website: | www.advisorshares.com |
| Inception Date: | September 17, 2012 |
Expenses and Fees
| Expense Ratio (%): | 1.25% (Rating: High) |
| Category Average Expense Ratio (%): | 0.73% |
