AdvisorShares, a sponsor of actively managed exchange-traded funds, has rolled out the QAM Equity Hedge ETF. The fund trades on NYSE Arca under the symbol QEH.

QEH is sub-advised by Commerce Asset Management, a Memphis, Tenn.-based investment advisor and subsidiary of Commerce Holdings LLC, which advises on approximately $700 million in assets.

QEH employs an actively managed long/short strategy that aims to exceed the risk-adjusted performance of approximately 50% of the long/short equity hedge fund universe as defined by the constituents of the HFRI Equity Hedge (Total) Index. It aims to provide investors with better risk adjusted returns versus the S&P 500 Index over time, while reducing the time required and expertise needed to select individual hedge funds.

Combined with its exposure to the HFRI Equity Hedge (Total) Index, CAM uses its own proprietary research with Markov Processes International's Dynamic Style Analysis hedge fund analysis software and knowledge of the hedge fund investment community for its portfolio management of QEH.

Bethesda, Md.-based AdvisorShares is a provider of actively managed ETFs. As of Aug. 1, the company offers 15 active ETFs with approximately $6.7 billion of assets under management.

--Jim McConville