ACSG vs. DWAS

Last updated Jun 6, 2026

ACSG (American Century Small Cap Growth Insights ETF) and DWAS (Invesco DWA SmallCap Momentum ETF) are both exchange-traded funds - ACSG is a Small Cap Growth Equities fund actively managed by American Century, while DWAS is a Momentum fund tracking the Dorsey Wright SmallCap Technical Leaders Index. ACSG is actively managed, while DWAS is passively managed. Their correlation of 0.90 suggests significant overlap in exposure. ACSG charges 0.49%/yr vs 0.60%/yr for DWAS.

Performance

ACSG vs. DWAS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Small Cap Growth Insights ETF (ACSG) and Invesco DWA SmallCap Momentum ETF (DWAS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACSG achieves a 11.29% return, which is significantly lower than DWAS's 14.72% return.

ACSG

• 1D: -3.92%
• 1M: -2.71%
• YTD: 11.29%
• 6M: 9.65%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DWAS

• 1D: -4.91%
• 1M: -4.34%
• YTD: 14.72%
• 6M: 13.72%
• 1Y: 35.51%
• 3Y*: 13.62%
• 5Y*: 5.46%
• 10Y*: 12.48%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ACSG vs. DWAS - Yearly Performance Comparison

	2026 (YTD)	2025
ACSG American Century Small Cap Growth Insights ETF	11.29%	1.17%
DWAS Invesco DWA SmallCap Momentum ETF	14.72%	2.65%

Correlation

The correlation between ACSG and DWAS is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 17, 2025	0.90

ACSG vs. DWAS - Sectors Allocation Comparison

Sectors	ACSG	DWAS
Industrials	23.4%	16.9%
Healthcare	22.7%	28.2%
Technology	22.0%	18.6%
Consumer Cyclical	9.1%	6.0%
Financial Services	7.6%	13.0%
Basic Materials	3.9%	4.0%
Energy	3.1%	7.7%
Communication Services	2.2%	1.1%
Real Estate	2.2%	1.1%
Consumer Defensive	2.0%	3.1%
Utilities	1.7%	0.3%

Return for Risk

ACSG vs. DWAS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DWAS

DWAS Risk / Return Rank: 54
DWAS Sharpe Ratio Rank: 46
DWAS Sortino Ratio Rank: 44
DWAS Omega Ratio Rank: 42
DWAS Calmar Ratio Rank: 74
DWAS Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ACSG vs. DWAS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Small Cap Growth Insights ETF (ACSG) and Invesco DWA SmallCap Momentum ETF (DWAS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ACSG	DWAS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.53	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.21	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.47	+0.45

Drawdowns

ACSG vs. DWAS - Drawdown Comparison

The maximum ACSG drawdown since its inception was -13.28%, smaller than the maximum DWAS drawdown of -46.16%. Use the drawdown chart below to compare losses from any high point for ACSG and DWAS.

Drawdown Indicators

	ACSG	DWAS	Difference
Max Drawdown Largest peak-to-trough decline	-13.28%	-46.16%	+32.88%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.02%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-33.83%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.83%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-46.16%	—
Current Drawdown Current decline from peak	-4.12%	-5.15%	+1.03%
Average Drawdown Average peak-to-trough decline	-3.01%	-10.29%	+7.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.08%	—

Volatility

Volatility by Period

	ACSG	DWAS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.34%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.61%	—
Volatility (1Y) Calculated over the trailing 1-year period	22.55%	23.38%	-0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.55%	25.79%	-3.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.55%	26.65%	-4.10%

ACSG vs. DWAS - Expense Ratio Comparison

ACSG has a 0.49% expense ratio, which is lower than DWAS's 0.60% expense ratio.

Dividends

ACSG vs. DWAS - Dividend Comparison

ACSG has not paid dividends to shareholders, while DWAS's dividend yield for the trailing twelve months is around 0.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACSG American Century Small Cap Growth Insights ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DWAS Invesco DWA SmallCap Momentum ETF	0.01%	0.07%	0.79%	1.42%	0.81%	0.16%	0.21%	0.13%	0.04%	0.20%	0.52%	0.19%

Frequently Asked Questions

Can I hold both ACSG and DWAS in my portfolio?

With a correlation of 0.90, ACSG and DWAS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, ACSG or DWAS?

On fees, ACSG is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ACSG or DWAS?

ACSG is cheaper with a 0.49% expense ratio, compared with 0.60% for DWAS.

Which ETF pays a higher dividend yield, ACSG or DWAS?

DWAS has the higher dividend yield at 0.01%, compared with 0.00% for ACSG.

What is the main difference between ACSG and DWAS?

ACSG is categorized as Small Cap Growth Equities, while DWAS is Momentum. They also come from different issuers: American Century and Invesco. Their fees differ too: 0.49% for ACSG and 0.60% for DWAS.