DBMYX vs. DWAS

Last updated Apr 1, 2026

Compare and contrast key facts about BNY Mellon Small/Mid Cap Growth Fund Class Y (DBMYX) and Invesco DWA SmallCap Momentum ETF (DWAS).

DBMYX is a passively managed fund by BNY Mellon that tracks the performance of the Russell 2500 Growth Index. It was launched on Jun 1, 2013. DWAS is a passively managed fund by Invesco that tracks the performance of the Dorsey Wright SmallCap Technical Leaders Index. It was launched on Jul 19, 2012. Both DBMYX and DWAS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

DBMYX vs. DWAS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Small/Mid Cap Growth Fund Class Y (DBMYX) and Invesco DWA SmallCap Momentum ETF (DWAS). The values are adjusted to include any dividend payments, if applicable.

DBMYX vs. DWAS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBMYX BNY Mellon Small/Mid Cap Growth Fund Class Y	-8.30%	11.94%	10.09%	15.63%	-33.11%	-4.44%	68.62%	39.27%	-1.35%	26.80%
DWAS Invesco DWA SmallCap Momentum ETF	1.76%	6.09%	9.81%	16.88%	-18.51%	19.75%	32.32%	31.39%	-10.68%	20.84%

Returns By Period

In the year-to-date period, DBMYX achieves a -8.30% return, which is significantly lower than DWAS's 1.76% return. Over the past 10 years, DBMYX has underperformed DWAS with an annualized return of 10.49%, while DWAS has yielded a comparatively higher 11.50% annualized return.

DBMYX

• 1D: -1.33%
• 1M: -13.87%
• YTD: -8.30%
• 6M: -7.43%
• 1Y: 12.85%
• 3Y*: 7.27%
• 5Y*: -2.84%
• 10Y*: 10.49%

DWAS

• 1D: 4.79%
• 1M: -3.96%
• YTD: 1.76%
• 6M: 6.85%
• 1Y: 26.30%
• 3Y*: 10.99%
• 5Y*: 3.34%
• 10Y*: 11.50%

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

DBMYX vs. DWAS - Expense Ratio Comparison

DBMYX has a 0.63% expense ratio, which is higher than DWAS's 0.60% expense ratio.

DBMYX

BNY Mellon Small/Mid Cap Growth Fund Class Y

DWAS

Invesco DWA SmallCap Momentum ETF

Return for Risk

DBMYX vs. DWAS — Risk / Return Rank

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

DBMYX

DBMYX Risk / Return Rank: 19
DBMYX Sharpe Ratio Rank: 20
DBMYX Sortino Ratio Rank: 22
DBMYX Omega Ratio Rank: 19
DBMYX Calmar Ratio Rank: 17
DBMYX Martin Ratio Rank: 19

DWAS

DWAS Risk / Return Rank: 65
DWAS Sharpe Ratio Rank: 61
DWAS Sortino Ratio Rank: 62
DWAS Omega Ratio Rank: 53
DWAS Calmar Ratio Rank: 78
DWAS Martin Ratio Rank: 73

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.

DBMYX vs. DWAS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Small/Mid Cap Growth Fund Class Y (DBMYX) 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.

	DBMYX	DWAS	Difference
Sharpe ratio Return per unit of total volatility	0.50	1.05	-0.55
Sortino ratio Return per unit of downside risk	0.89	1.56	-0.66
Omega ratio Gain probability vs. loss probability	1.11	1.19	-0.08
Calmar ratio Return relative to maximum drawdown	0.50	2.02	-1.52
Martin ratio Return relative to average drawdown	1.97	7.38	-5.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBMYX vs. DWAS - Sharpe Ratio Comparison

The current DBMYX Sharpe Ratio is 0.50, which is lower than the DWAS Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of DBMYX and DWAS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DBMYX	DWAS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.50	1.05	-0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.12	0.13	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.44	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.44	-0.06

Correlation

The correlation between DBMYX and DWAS is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DBMYX vs. DWAS - Dividend Comparison

DBMYX's dividend yield for the trailing twelve months is around 55.82%, more than DWAS's 0.02% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBMYX BNY Mellon Small/Mid Cap Growth Fund Class Y	55.82%	51.19%	0.43%	0.00%	0.00%	8.97%	7.86%	0.00%	8.66%	9.12%	2.20%	6.55%
DWAS Invesco DWA SmallCap Momentum ETF	0.02%	0.07%	0.79%	1.42%	0.81%	0.16%	0.21%	0.13%	0.04%	0.20%	0.52%	0.19%

Drawdowns

DBMYX vs. DWAS - Drawdown Comparison

The maximum DBMYX drawdown since its inception was -48.24%, roughly equal to the maximum DWAS drawdown of -46.16%. Use the drawdown chart below to compare losses from any high point for DBMYX and DWAS.

Drawdown Indicators

	DBMYX	DWAS	Difference
Max Drawdown Largest peak-to-trough decline	-48.24%	-46.16%	-2.08%
Max Drawdown (1Y) Largest decline over 1 year	-19.58%	-13.21%	-6.37%
Max Drawdown (5Y) Largest decline over 5 years	-45.79%	-33.83%	-11.96%
Max Drawdown (10Y) Largest decline over 10 years	-48.24%	-46.16%	-2.08%
Current Drawdown Current decline from peak	-26.11%	-5.71%	-20.40%
Average Drawdown Average peak-to-trough decline	-15.17%	-10.41%	-4.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.97%	3.62%	+1.35%

Volatility

DBMYX vs. DWAS - Volatility Comparison

The current volatility for BNY Mellon Small/Mid Cap Growth Fund Class Y (DBMYX) is 7.77%, while Invesco DWA SmallCap Momentum ETF (DWAS) has a volatility of 9.76%. This indicates that DBMYX experiences smaller price fluctuations and is considered to be less risky than DWAS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBMYX	DWAS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.77%	9.76%	-1.99%
Volatility (6M) Calculated over the trailing 6-month period	15.64%	18.15%	-2.51%
Volatility (1Y) Calculated over the trailing 1-year period	24.42%	25.21%	-0.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.50%	25.97%	-1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.13%	26.52%	-2.39%