- ISIN
- US73936Q7447
- CUSIP
- 46138E842
- Issuer
- Invesco
- Inception Date
- Jul 19, 2012
- Region
- North America (U.S.)
- Category
- Momentum, Small Cap Growth Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Dorsey Wright SmallCap Technical Leaders Index
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $428M
Highlights
- Avg. Volume (1M)
- 29K
- Avg. Volume Value (1M)
- $3.38M
Share Price Chart
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Performance
DWAS Performance Chart
Invesco DWA SmallCap Momentum ETF (DWAS) is up 16.2% since the beginning of the year. DWAS is currently trading at $112 per share. Investors who bought $1,000 worth of DWAS shares 5 years ago would now be looking at an investment worth $1,372.
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Returns By Period
Invesco DWA SmallCap Momentum ETF (DWAS) has returned 16.15% so far this year and 35.72% over the past 12 months. Over the last ten years, DWAS has returned 12.26% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
Invesco DWA SmallCap Momentum ETF
- 1D
- -0.37%
- 1M
- -6.72%
- 6M
- 12.84%
- YTD
- 16.15%
- 1Y
- 35.72%
- 3Y*
- 11.40%
- 5Y*
- 6.53%
- 10Y*
- 12.26%
- ALL TIME*
- 11.65%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
DWAS Monthly Returns History
Based on dividend-adjusted daily data since Jul 19, 2012, DWAS's average daily return is +0.06%, while the average monthly return is +1.11%. At this rate, an investment would double in approximately 5.2 years.
Historically, 63% of months were positive and 37% were negative. The best month was Nov 2020 with a return of +18.3%, while the worst month was Mar 2020 at -22.0%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 3 months.
On a daily basis, DWAS closed higher 53% of trading days. The best single day was Mar 19, 2020 with a return of +13.6%, while the worst single day was Mar 18, 2020 at -15.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.93% | 2.94% | -3.96% | 13.85% | 3.64% | 9.57% | -11.72% | 16.15% | |||||
| 2025 | 1.79% | -8.32% | -8.40% | -1.80% | 6.06% | 4.49% | -0.50% | 5.59% | 3.37% | 2.02% | 3.52% | -0.59% | 6.09% |
| 2024 | -0.90% | 8.54% | 0.92% | -7.85% | 5.38% | -3.58% | 8.78% | -0.22% | 1.16% | -1.72% | 12.59% | -11.09% | 9.81% |
| 2023 | 6.07% | -0.19% | -4.29% | -2.40% | 0.83% | 8.83% | 5.78% | -3.54% | -6.34% | -7.32% | 9.02% | 11.54% | 16.88% |
| 2022 | -11.70% | 3.80% | 2.69% | -6.51% | 1.48% | -15.29% | 11.34% | 0.90% | -9.89% | 13.14% | 0.46% | -6.37% | -18.51% |
| 2021 | 6.91% | 6.73% | -1.01% | 0.11% | 2.28% | 3.16% | -5.72% | 2.83% | 0.95% | 7.05% | -5.26% | 1.13% | 19.75% |
Benchmark Metrics
Invesco DWA SmallCap Momentum ETF has an annualized alpha of -1.77%, beta of 1.18, and R2 of 0.63 versus S&P 500 Index. Calculated based on daily prices since July 19, 2012.
- This ETF participated in 120.57% of S&P 500 Index downside but only 112.26% of its upside - more exposed to losses than it benefited from rallies.
- Alpha
- -1.77%
- Beta
- 1.18
- R²
- 0.63
- Upside Capture
- 112.26%
- Downside Capture
- 120.57%
Expense Ratio
DWAS has an expense ratio of 0.60%, placing it in the medium range.
Return for Risk
Risk / Return Rank
DWAS ranks 56 for risk / return — above 56% of ETFs peers on PortfoliosLab. Its historical combined result is near the middle of the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Invesco DWA SmallCap Momentum ETF (DWAS) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DWAS | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.25 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 2.00 | +0.20 |
| Martin ratioReturn relative to average drawdown | 8.30 | 8.49 | -0.19 |
Dividends
Dividend History
Invesco DWA SmallCap Momentum ETF provided a 0.00% dividend yield over the last twelve months, with an annual payout of $0.01 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.01 | $0.07 | $0.72 | $1.19 | $0.59 | $0.14 | $0.16 | $0.08 | $0.02 | $0.10 | $0.21 | $0.07 |
Dividend yield | 0.00% | 0.07% | 0.79% | 1.42% | 0.81% | 0.16% | 0.21% | 0.13% | 0.04% | 0.20% | 0.52% | 0.19% |
Monthly Dividends
The table displays the monthly dividend distributions for Invesco DWA SmallCap Momentum ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | $0.07 |
| 2024 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.51 | $0.00 | $0.00 | $0.07 | $0.72 |
| 2023 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.83 | $1.19 |
| 2022 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.14 | $0.59 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.07 | $0.14 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Invesco DWA SmallCap Momentum ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Invesco DWA SmallCap Momentum ETF was 46.16%, occurring on Mar 18, 2020. Recovery took 96 trading sessions.
The current Invesco DWA SmallCap Momentum ETF drawdown is 11.72%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-46.16%Mar 2020 | 26d | 4mo 19d | 5mo 15dFeb 2020 - Aug 2020 | COVID crash2020 |
-33.83%Apr 2025 | 4mo 27d | 9mo 19d | 1y 2moNov 2024 - Jan 2026 | 2025 selloff2025 |
-33.68%Jul 2022 | 7mo 29d | 2y 4mo | 2y 12moNov 2021 - Nov 2024 | Bear market2022 |
-32.51%Dec 2018 | 3mo 21d | 1y 1mo | 1y 5moSep 2018 - Feb 2020 | Rate-hike selloffLate 2018 |
-29.53%Feb 2016 | 6mo 23d | 1y 3mo | 1y 10moJul 2015 - Jun 2017 | — |
Drawdown Indicators
| DWAS | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.16% | -56.78% | +10.62% |
Max Drawdown (1Y)Largest decline over 1 year | -15.10% | -9.10% | -6.00% |
Max Drawdown (3Y)Largest decline over 3 years | -33.83% | -18.90% | -14.93% |
Max Drawdown (5Y)Largest decline over 5 years | -33.83% | -25.43% | -8.40% |
Max Drawdown (10Y)Largest decline over 10 years | -46.16% | -33.92% | -12.24% |
Current DrawdownCurrent decline from peak | -11.72% | -1.58% | -10.14% |
Average DrawdownAverage peak-to-trough decline | -10.24% | -10.70% | +0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.00% | 2.14% | +1.86% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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