SCHEDULE A as last revised September 14, 2016 to the SECOND AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT dated November 21, 2011 between ADVISORSHARES TRUST and ADVISORSHARES INVESTMENTS, LLC MAXIMUM ANNUAL OPERATING EXPENSE LIMITS

Exhibit 99.H8

SCHEDULE A

as last revised September 14, 2016

to the

SECOND AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT

dated November 21, 2011

between

ADVISORSHARES TRUST

and ADVISORSHARES INVESTMENTS, LLC

MAXIMUM ANNUAL OPERATING EXPENSE LIMITS

This Agreement relates to the following Funds of the Trust:

Name of Fund	Maximum Annual Operating Expense Limit
Xxxxxx Xxxxxx ADR ETF	1.25%
Peritus High Yield ETF	1.35%
Xxxxxx Creek Global Tactical ETF	1.25%
Ranger Equity Bear ETF	1.85%
Madrona Domestic ETF	1.25%
Madrona International ETF	1.25%
Madrona Global Bond ETF	0.95%
Xxxxxxx Tactical Advantage ETF	1.35%
Wilshire Buyback ETF	0.90%
STAR Global Buy-Write ETF	1.85%
QAM Equity Hedge ETF	1.50%
EquityPro ETF	1.25%
Newfleet Multi-Sector Income ETF	0.75%
Xxxxxxx Gold/Yen ETF	0.65%
Xxxxxxx Gold/Euro ETF	0.65%
Sage Core Reserves ETF	0.35%
Treesdale Rising Rates ETF	1.25%
YieldPro ETF	1.25%
Market Adaptive Unconstrained Income ETF	0.99%
Athena High Dividend ETF	0.99%
Pacific Asset Enhanced Floating Rate ETF	1.10%
Cornerstone Small Cap ETF	0.90%
XXX Korea Equity ETF	0.99%
Focused Equity ETF	0.65% - 0.85%*

* 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/or revised operating expense limits appear in bold;

fund name changes appear in italics.