SCHEDULE A as revised January 28, 2022 to the THIRD AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT dated September 8, 2017 between ADVISORSHARES TRUST and ADVISORSHARES INVESTMENTS, LLC MAXIMUM ANNUAL OPERATING EXPENSE LIMITS

Exhibit (h)(11)

SCHEDULE A

as revised January 28, 2022

to the

THIRD AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT

dated September 8, 2017

between

ADVISORSHARES TRUST

and

ADVISORSHARES INVESTMENTS, LLC

MAXIMUM ANNUAL OPERATING EXPENSE LIMITS

Fund		Maximum Annual Operating Expense Limit
AdvisorShares Xxxxxx Xxxxxx ADR ETF		1.10%
AdvisorShares Ranger Equity Bear ETF		1.85%
AdvisorShares North Square XxXxx ESG Core Bond ETF		0.47%
AdvisorShares DoubleLine Value Equity ETF		0.90%
AdvisorShares STAR Global Buy-Write ETF		1.85%
AdvisorShares Newfleet Multi-Sector Income ETF		0.75%
AdvisorShares North Square XxXxx Core Reserves ETF		0.35%
AdvisorShares Focused Equity ETF		0.65% - 0.85%*
AdvisorShares Vice ETF		0.99%
AdvisorShares Xxxxxx Xxxxxx Micro-Cap ETF		1.25%
AdvisorShares Xxxxxx Xxxxxx Short ETF		1.25%
AdvisorShares Pure Cannabis ETF		0.74%
AdvisorShares Xxxxxx Xxxxxx FSM US Core ETF		0.99%
AdvisorShares Xxxxxx Xxxxxx FSM All Cap World ETF		0.99%
AdvisorShares Xxxxxx Xxxxxx Alpha Equal Weight ETF		0.99%
AdvisorShares Pure US Cannabis ETF		0.74%
AdvisorShares Q Portfolio Blended Allocation ETF		0.99%
AdvisorShares Q Dynamic Growth ETF		1.45%
AdvisorShares Alpha DNA Equity Sentiment ETF		1.35%
AdvisorShares Hotel ETF		0.99%
AdvisorShares Restaurant ETF		0.99%
AdvisorShares Gerber Kawasaki ETF		0.75%
AdvisorShares Psychedelics ETF		0.99%
AdvisorShares Poseidon Dynamic Cannabis ETF		0.99%
AdvisorShares Let Xxx AI Powered Momentum ETF		0.99%

* The Maximum Annual Operating Expense Limit is equal to the annual rate of the Adviser’s contractual advisory fee, which can range from 0.65% to 0.85%.

New funds and revised operating expense limits appear in bold; fund name changes appear in italics.