Nasdaq -AdvisorShares, the Bethesda, Md.-based firm known for its actively managed ETFs, filed paperwork with U.S. regulators to market it second hedge-fund play with an actively managed fund-of-funds ETF that would take both long and short positions to track long/short hedge funds.
The QAM Equity Hedge ETF (NYSEArca:QEH) would aim to outperform risk-adjusted returns of about 50 percent of the long/short equity hedge fund universeâ??as defined by the securities included in the HFRI Equity Hedge Fund Index, AdvisorShares said in the filing.
