The VICE ETF is an actively managed ETF that selects companies mainly from business groups tied to consumption and leisure, such as alcohol, tobacco, food and beverage, and gaming. The manager adjusts the portfolio by weighing each company's financial soundness, earnings quality, and business environment together.

It suits investors who want to understand the effects of regulatory change and shifting consumer preferences, and who want to review specific consumer goods and leisure industry themes separately.

It is an ETF run by AdvisorShares using an active management approach.

The fund mainly invests in companies that earn meaningful revenue from alcohol, tobacco, food and beverage, and gaming activities. It holds primarily stocks and depositary receipts listed on US exchanges, and at the manager's discretion it adjusts the portfolio after reviewing financial soundness, earnings quality, and the valuation appeal of each business.

• Active selection covering both consumer goods and leisure themes
• A management approach that takes regulation and shifts in consumer preferences into account

Assets under management (AUM) stand at $6.2M, and the total expense ratio is 0.99% per year.

Unlike passive index-tracking products, the fund's holdings can change based on the manager's judgment, so investors should look not only at the theme itself but also at the stock selection process and trading conditions.

Performance can be influenced by consumer spending, product preferences, gaming-related demand, and the regulatory environment of each industry. Because of the nature of active management, stock selection results can create performance gaps regardless of the broader market's moves, so it is more appropriate to review the direction of the theme and changes in holdings than short-term returns.

The official page carries notices regarding the fund's closure and liquidation, so investors need to confirm in the official notice whether buying and selling are still possible and how cash settlement will work. In this situation, the trading schedule and the terms for handling remaining holdings become more important considerations than ordinary fund flows.

Thematic active selection is its strength, but investors must also consider industry concentration, regulatory sensitivity, and the closure notice.

In the same-category comparison table, the DYNF ETF shows an actively managed factor rotation approach, the THRO ETF a thematic rotation approach, and the ARKK ETF an active approach centered on innovative companies. Although these share a similar management style with the VICE ETF, they offer different industry exposure, so differences in fees, size, and portfolio composition should be checked together. As directly related alternatives, the MSOS ETF focuses on the US cannabis business and the YOLO ETF on the cannabis industry as a whole, and the MJ ETF can also serve as a comparison when reviewing related industry exposure.

When reviewing the VICE ETF, do not look only at theme exposure. Also check whether trading is possible under the closure and liquidation notice, the industry sensitivity of the holdings, and the distribution policy. In particular, rather than approaching it like an ordinary long-term holding, it is necessary to first confirm the handling terms in the official notice.

Consumer goods and gaming industries can be affected by changes in regulation, consumer preferences, and the economic cycle. In active management, stock selection carries a large weight in performance, and during a product's closure and liquidation, trading conditions and cash settlement terms can become more direct variables than ordinary long-term investment risks.

The VICE ETF is a thematic active product that examines consumption and leisure-related industries together, but it currently carries an official closure and liquidation notice. Therefore, rather than deciding on a new purchase, it is advisable to first confirm whether existing holdings can be traded and how they will be handled, and if exposure to related industries is needed, to compare the purpose and regulatory risks of alternative ETFs before deciding.