CWS vs. QWLD

Last updated Aug 2, 2026

CWS (AdvisorShares Focused Equity ETF) and QWLD (SPDR MSCI World StrategicFactors ETF) are both Large Cap Growth Equities funds. CWS is actively managed, while QWLD is passively managed. Over the past 5 years, CWS returned 8.61%/yr vs 10.03%/yr for QWLD. Their 0.71 correlation means they have sometimes moved together and sometimes differently. CWS charges 0.77%/yr vs 0.30%/yr for QWLD.

Performance

CWS vs. QWLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AdvisorShares Focused Equity ETF (CWS) and SPDR MSCI World StrategicFactors ETF (QWLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CWS achieves a 3.94% return, which is significantly lower than QWLD's 9.39% return.

CWS

• 1D: 1.57%
• 1M: 3.96%
• 6M: 4.04%
• YTD: 3.94%
• 1Y: 5.20%
• 3Y*: 8.97%
• 5Y*: 8.61%
• 10Y*: —
• ALL TIME*: 11.72%

QWLD

• 1D: 0.22%
• 1M: 1.63%
• 6M: 6.46%
• YTD: 9.39%
• 1Y: 19.11%
• 3Y*: 15.49%
• 5Y*: 10.03%
• 10Y*: 11.57%
• ALL TIME*: 10.49%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CWS AdvisorShares Focused Equity ETF	$260.10K	$341.02K	$716.43K
QWLD SPDR MSCI World StrategicFactors ETF	$231.12K	$297.84K	$1.04M

CWS vs. QWLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CWS AdvisorShares Focused Equity ETF	3.94%	6.43%	9.82%	25.06%	-10.42%	22.20%	17.12%	30.97%	-6.46%	20.92%
QWLD SPDR MSCI World StrategicFactors ETF	9.39%	17.93%	14.44%	19.59%	-13.30%	21.57%	10.24%	27.59%	-7.02%	22.44%

Correlation

The correlation between CWS and QWLD is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.70
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (5Y) Shows whether the relationship held over a longer period.	0.81
Correlation (All Time) Calculated using the full available price history since Sep 21, 2016	0.71

The correlation between CWS and QWLD shifts across timeframes, from 0.70 (1 year) to 0.81 (5 years), reflecting how their relationship changes across market environments.

CWS vs. QWLD - Sectors Allocation Comparison

Sectors	CWS	QWLD
Healthcare	26.7%	13.2%
Industrials	24.0%	10.9%
Technology	19.0%	24.9%
Financial Services	11.1%	16.5%
Consumer Cyclical	10.6%	6.3%
Consumer Defensive	4.3%	8.1%
Utilities	4.1%	3.8%
Basic Materials	-	2.5%
Communication Services	-	9.5%
Energy	-	3.4%
Real Estate	-	1.0%

Return for Risk

CWS vs. QWLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CWS

CWS Risk / Return Rank: 18
CWS Sharpe Ratio Rank: 19
CWS Sortino Ratio Rank: 18
CWS Omega Ratio Rank: 17
CWS Calmar Ratio Rank: 18
CWS Martin Ratio Rank: 18

QWLD

QWLD Risk / Return Rank: 80
QWLD Sharpe Ratio Rank: 83
QWLD Sortino Ratio Rank: 84
QWLD Omega Ratio Rank: 82
QWLD Calmar Ratio Rank: 70
QWLD Martin Ratio Rank: 81

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CWS vs. QWLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Focused Equity ETF (CWS) and SPDR MSCI World StrategicFactors ETF (QWLD). 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.

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.

	CWS	QWLD	Difference
Sharpe ratio: Return per unit of total volatility	0.34	1.93	-1.59
Sortino ratio: Return per unit of downside risk	0.58	2.75	-2.17
Omega ratio: Gain probability vs. loss probability	1.07	1.34	-0.28
Calmar ratio: Return relative to maximum drawdown	0.39	2.44	-2.06
Martin ratio: Return relative to average drawdown	0.98	10.67	-9.69

CWS vs. QWLD - Sharpe Ratio Comparison

The current CWS Sharpe Ratio is 0.34, which is lower than the QWLD Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of CWS and QWLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CWS vs. QWLD - Drawdown Comparison

The maximum CWS drawdown since its inception was -33.82%, which is greater than QWLD's maximum drawdown of -31.89%. Use the drawdown chart below to compare losses from any high point for CWS and QWLD.

Drawdown Indicators

	CWS	QWLD	Difference
Max Drawdown Largest peak-to-trough decline	-33.82%	-31.89%	-1.93%
Max Drawdown (1Y) Largest decline over 1 year	-11.92%	-7.66%	-4.26%
Max Drawdown (3Y) Largest decline over 3 years	-16.56%	-12.40%	-4.16%
Max Drawdown (5Y) Largest decline over 5 years	-24.87%	-22.84%	-2.03%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.89%	—
Current Drawdown Current decline from peak	-0.73%	0.00%	-0.73%
Average Drawdown Average peak-to-trough decline	-4.54%	-3.66%	-0.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.69%	1.75%	+2.94%

Volatility

CWS vs. QWLD - Volatility Comparison

AdvisorShares Focused Equity ETF (CWS) has a higher volatility of 3.48% compared to SPDR MSCI World StrategicFactors ETF (QWLD) at 2.30%. This indicates that CWS's price experiences larger fluctuations and is considered to be riskier than QWLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CWS	QWLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.48%	2.30%	+1.18%
Volatility (6M) Calculated over the trailing 6-month period	10.32%	7.73%	+2.59%
Volatility (1Y) Calculated over the trailing 1-year period	13.54%	9.71%	+3.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.69%	13.51%	+2.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.84%	15.12%	+1.72%

CWS vs. QWLD - Expense Ratio Comparison

CWS has a 0.77% expense ratio, which is higher than QWLD's 0.30% expense ratio.

Dividends

CWS vs. QWLD - Dividend Comparison

CWS's dividend yield for the trailing twelve months is around 0.29%, less than QWLD's 1.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CWS AdvisorShares Focused Equity ETF	0.29%	0.31%	0.59%	0.25%	0.50%	0.16%	0.27%	0.39%	2.07%	0.29%	0.03%	0.00%
QWLD SPDR MSCI World StrategicFactors ETF	1.79%	1.85%	1.74%	1.78%	2.02%	1.77%	1.77%	2.13%	2.33%	2.73%	2.22%	3.42%

Frequently Asked Questions

Can I hold both CWS and QWLD in my portfolio?

CWS and QWLD have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CWS or QWLD?

CWS has higher volatility (3.48%) compared to QWLD (2.30%). In terms of maximum drawdown, CWS dropped -33.82% vs QWLD's -31.89%.

Which ETF is better, CWS or QWLD?

On 5-year performance, QWLD leads with 10.03% vs 8.61% for CWS. On fees, QWLD is cheaper at 0.30% per year. On volatility, QWLD has been the lower-risk option at 2.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CWS or QWLD?

Over the 5-year period, QWLD has performed better with a 10.03% return vs 8.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CWS or QWLD?

QWLD is cheaper with a 0.30% expense ratio, compared with 0.77% for CWS.

Which ETF pays a higher dividend yield, CWS or QWLD?

QWLD has the higher dividend yield at 1.79%, compared with 0.29% for CWS.

What is the main difference between CWS and QWLD?

They also come from different issuers: AdvisorShares and State Street. Their fees differ too: 0.77% for CWS and 0.30% for QWLD.

Which has better risk-adjusted returns?

QWLD currently has the higher Sharpe Ratio (1.93 vs 0.34), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.