DWAS vs. SMOM

Last updated Jul 14, 2026

DWAS (Invesco DWA SmallCap Momentum ETF) and SMOM (Symmetry Panoramic Sector Momentum ETF) are both exchange-traded funds - DWAS is a Momentum fund tracking the Dorsey Wright SmallCap Technical Leaders Index, while SMOM is a Large Cap Blend Equities fund actively managed by Symmetry Partners. DWAS is passively managed, while SMOM is actively managed. A 0.68 correlation means they provide meaningful diversification when combined. DWAS charges 0.60%/yr vs 0.63%/yr for SMOM.

Performance

DWAS vs. SMOM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA SmallCap Momentum ETF (DWAS) and Symmetry Panoramic Sector Momentum ETF (SMOM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DWAS achieves a 20.43% return, which is significantly higher than SMOM's 8.50% return.

DWAS

• 1D: -2.58%
• 1M: -1.51%
• 6M: 16.18%
• YTD: 20.43%
• 1Y: 39.51%
• 3Y*: 14.12%
• 5Y*: 7.20%
• 10Y*: 12.66%

SMOM

• 1D: 0.07%
• 1M: -0.16%
• 6M: 6.81%
• YTD: 8.50%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DWAS vs. SMOM - Yearly Performance Comparison

	2026 (YTD)	2025
DWAS Invesco DWA SmallCap Momentum ETF	20.43%	8.00%
SMOM Symmetry Panoramic Sector Momentum ETF	8.50%	2.78%

Correlation

The correlation between DWAS and SMOM is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 10, 2025	0.68

Return for Risk

DWAS vs. SMOM — Risk / Return Rank

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

DWAS

DWAS Risk / Return Rank: 68
DWAS Sharpe Ratio Rank: 61
DWAS Sortino Ratio Rank: 59
DWAS Omega Ratio Rank: 54
DWAS Calmar Ratio Rank: 87
DWAS Martin Ratio Rank: 80

SMOM

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

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.

DWAS vs. SMOM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA SmallCap Momentum ETF (DWAS) and Symmetry Panoramic Sector Momentum ETF (SMOM). 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.

	DWAS	SMOM	Difference
Sharpe ratio: Return per unit of total volatility	1.61	—	—
Sortino ratio: Return per unit of downside risk	2.21	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	3.96	—	—
Martin ratio: Return relative to average drawdown	12.15	—	—

Drawdowns

DWAS vs. SMOM - Drawdown Comparison

The maximum DWAS drawdown since its inception was -46.16%, which is greater than SMOM's maximum drawdown of -7.45%. Use the drawdown chart below to compare losses from any high point for DWAS and SMOM.

Drawdown Indicators

	DWAS	SMOM	Difference
Max Drawdown Largest peak-to-trough decline	-46.16%	-7.45%	-38.71%
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	-8.46%	-1.20%	-7.26%
Average Drawdown Average peak-to-trough decline	-10.25%	-1.52%	-8.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	—	—

Volatility

Volatility by Period

	DWAS	SMOM	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.09%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.66%	12.55%	+12.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.94%	12.55%	+13.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.73%	12.55%	+14.18%

DWAS vs. SMOM - Expense Ratio Comparison

DWAS has a 0.60% expense ratio, which is lower than SMOM's 0.63% expense ratio.

Dividends

DWAS vs. SMOM - Dividend Comparison

DWAS has not paid dividends to shareholders, while SMOM's dividend yield for the trailing twelve months is around 0.15%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DWAS Invesco DWA SmallCap Momentum ETF	0.00%	0.07%	0.79%	1.42%	0.81%	0.16%	0.21%	0.13%	0.04%	0.20%	0.52%	0.19%
SMOM Symmetry Panoramic Sector Momentum ETF	0.15%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DWAS and SMOM in my portfolio?

DWAS and SMOM have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DWAS or SMOM?

On fees, DWAS is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DWAS or SMOM?

DWAS is cheaper with a 0.60% expense ratio, compared with 0.63% for SMOM.

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

SMOM has the higher dividend yield at 0.15%, compared with 0.00% for DWAS.

What is the main difference between DWAS and SMOM?

DWAS is categorized as Momentum, while SMOM is Large Cap Blend Equities. They also come from different issuers: Invesco and Symmetry Partners. Their fees differ too: 0.60% for DWAS and 0.63% for SMOM.