AdvisorShares, the Bethesda, Md.-based fund sponsor known for actively managed ETFs, filed paperwork with U.S. regulators to market four gold ETFs in a strategy that will be directly linked to Dennis Gartman’s market expertise.

In a rather unusual filing, AdvisorShares detailed four ETFs, the first of them being a broad fund-of-funds international portfolio that will likely comprise the other three ETFs listed in the filing, each of which are also fund-of-funds themselves.

The main fund—the AdvisorShares International Gold ETF (NYSEArca: GLDE)—will be a fund-of-funds strategy that will invest in other exchange-traded products that tap into the international gold market, AdvisorShares said in the filing. The portfolio will consist primarily of long positions in these various ETPs.

Among the ETFs considered as possible investments for GLDE are three other actively managed funds AdvisorShares is also putting into the regulatory pipeline. Those funds are:

• Gartman Gold/Yen ETF (NYSEArca: GYEN)
• Gartman Gold/British Pound ETF (NYSEArca: GGBP)
• Gartman Gold/Euro ETF (NYSEArca: GEUR)

The three currency-linked Gartman funds are also fund-of-funds strategies that deliver a sort of “gold-financed-in-a-foreign-currency” sort of exposure. Each ETF will acquire gold in the respective currencies—yen, pound and euro—in an effort to provide investors with access to gold while reducing exposure to the dollar.

Treesdale Partners, which will serve as subadvisor to all four ETFs, will be evaluating the gold market on a daily basis, relying primarily on information provided from The Gartman Letter, a daily commentary on global capital markets led by Dennis Gartman.

“In determining [GLDE’s] investment allocation, the sub-advisor will follow a proprietary investment process to assess the relative value of gold versus each of the currencies represented in the ETPs,” the filing said.

“In general, if the sub-advisor determines that the price of gold versus a particular currency offers an expected return that exceeds that offered by gold versus other currencies, the ETP that offers that exposure, all things being equal, will receive a larger allocation of the Fund’s assets for investment,” it said.

AdvisorShares didn’t disclose planned fees for the funds.