DWAW vs. AADR

Last updated Jun 24, 2026

DWAW (AdvisorShares Dorsey Wright FSM All Cap World ETF) and AADR (AdvisorShares Dorsey Wright ADR ETF) are both exchange-traded funds - DWAW is a Large Cap Growth Equities fund actively managed by AdvisorShares, while AADR is a Global Equities fund actively managed by AdvisorShares. Both are actively managed. Over the past 5 years, DWAW returned 7.55%/yr vs 5.58%/yr for AADR. A 0.71 correlation means they provide meaningful diversification when combined. DWAW charges 1.24%/yr vs 1.10%/yr for AADR.

Performance

DWAW vs. AADR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AdvisorShares Dorsey Wright FSM All Cap World ETF (DWAW) and AdvisorShares Dorsey Wright ADR ETF (AADR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DWAW achieves a 14.00% return, which is significantly higher than AADR's -5.16% return.

DWAW

• 1D: -3.01%
• 1M: 1.62%
• YTD: 14.00%
• 6M: 13.09%
• 1Y: 24.71%
• 3Y*: 18.75%
• 5Y*: 7.55%
• 10Y*: —

AADR

• 1D: -1.63%
• 1M: -4.90%
• YTD: -5.16%
• 6M: -6.14%
• 1Y: 8.05%
• 3Y*: 19.73%
• 5Y*: 5.58%
• 10Y*: 9.17%

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

DWAW vs. AADR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DWAW AdvisorShares Dorsey Wright FSM All Cap World ETF	14.00%	10.85%	18.48%	11.18%	-17.80%	3.49%	48.87%	24.93%
AADR AdvisorShares Dorsey Wright ADR ETF	-5.16%	25.63%	24.58%	18.67%	-22.93%	6.48%	13.13%	-0.76%

Correlation

The correlation between DWAW and AADR is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Dec 27, 2019	0.71

The correlation between DWAW and AADR has been stable across timeframes, ranging from 0.67 to 0.73 - a consistent structural relationship.

DWAW vs. AADR - Sectors Allocation Comparison

Sectors	DWAW	AADR
Technology	33.0%	9.9%
Financial Services	17.5%	15.1%
Industrials	11.3%	12.4%
Healthcare	7.7%	17.6%
Consumer Cyclical	7.5%	5.2%
Communication Services	6.0%	9.3%
Basic Materials	4.5%	16.7%
Energy	4.5%	8.9%
Consumer Defensive	3.9%	2.3%
Utilities	2.8%	2.7%
Real Estate	1.4%	-

Return for Risk

DWAW vs. AADR — Risk / Return Rank

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

DWAW

DWAW Risk / Return Rank: 47
DWAW Sharpe Ratio Rank: 46
DWAW Sortino Ratio Rank: 44
DWAW Omega Ratio Rank: 46
DWAW Calmar Ratio Rank: 46
DWAW Martin Ratio Rank: 53

AADR

AADR Risk / Return Rank: 14
AADR Sharpe Ratio Rank: 14
AADR Sortino Ratio Rank: 14
AADR Omega Ratio Rank: 14
AADR Calmar Ratio Rank: 13
AADR Martin Ratio Rank: 14

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.

DWAW vs. AADR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Dorsey Wright FSM All Cap World ETF (DWAW) and AdvisorShares Dorsey Wright ADR ETF (AADR). 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.

	DWAW	AADR	Difference
Sharpe ratio: Return per unit of total volatility	1.48	0.37	+1.11
Sortino ratio: Return per unit of downside risk	2.07	0.66	+1.41
Omega ratio: Gain probability vs. loss probability	1.27	1.08	+0.19
Calmar ratio: Return relative to maximum drawdown	2.14	0.42	+1.72
Martin ratio: Return relative to average drawdown	8.53	1.07	+7.47

DWAW vs. AADR - Sharpe Ratio Comparison

The current DWAW Sharpe Ratio is 1.48, which is higher than the AADR Sharpe Ratio of 0.37. The chart below compares the historical Sharpe Ratios of DWAW and AADR, 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

DWAW vs. AADR - Drawdown Comparison

The maximum DWAW drawdown since its inception was -31.55%, smaller than the maximum AADR drawdown of -45.01%. Use the drawdown chart below to compare losses from any high point for DWAW and AADR.

Drawdown Indicators

	DWAW	AADR	Difference
Max Drawdown Largest peak-to-trough decline	-31.55%	-45.01%	+13.46%
Max Drawdown (1Y) Largest decline over 1 year	-11.58%	-19.30%	+7.72%
Max Drawdown (3Y) Largest decline over 3 years	-22.91%	-20.61%	-2.30%
Max Drawdown (5Y) Largest decline over 5 years	-28.43%	-34.80%	+6.37%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.01%	—
Current Drawdown Current decline from peak	-3.01%	-15.74%	+12.73%
Average Drawdown Average peak-to-trough decline	-10.90%	-9.41%	-1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	7.56%	-4.66%

Volatility

DWAW vs. AADR - Volatility Comparison

AdvisorShares Dorsey Wright FSM All Cap World ETF (DWAW) has a higher volatility of 7.22% compared to AdvisorShares Dorsey Wright ADR ETF (AADR) at 5.79%. This indicates that DWAW's price experiences larger fluctuations and is considered to be riskier than AADR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DWAW	AADR	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.22%	5.79%	+1.43%
Volatility (6M) Calculated over the trailing 6-month period	14.32%	18.21%	-3.89%
Volatility (1Y) Calculated over the trailing 1-year period	16.78%	21.76%	-4.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.30%	21.75%	-2.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.57%	22.14%	+2.43%

DWAW vs. AADR - Expense Ratio Comparison

DWAW has a 1.24% expense ratio, which is higher than AADR's 1.10% expense ratio.

Dividends

DWAW vs. AADR - Dividend Comparison

DWAW's dividend yield for the trailing twelve months is around 0.67%, more than AADR's 0.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AADR AdvisorShares Dorsey Wright ADR ETF	0.31%	0.49%	1.33%	0.74%	3.65%	0.92%	0.11%	0.58%	0.75%	0.74%	0.58%	0.81%
DWAW AdvisorShares Dorsey Wright FSM All Cap World ETF	0.67%	0.76%	0.00%	1.70%	0.53%	1.45%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DWAW and AADR in my portfolio?

DWAW and AADR have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DWAW or AADR?

DWAW has higher volatility (7.22%) compared to AADR (5.79%). In terms of maximum drawdown, DWAW dropped -31.55% vs AADR's -45.01%.

Which ETF is better, DWAW or AADR?

On 5-year performance, DWAW leads with 7.55% vs 5.58% for AADR. On fees, AADR is cheaper at 1.10% per year. On volatility, AADR has been the lower-risk option at 5.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DWAW or AADR?

Over the 5-year period, DWAW has performed better with a 7.55% return vs 5.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DWAW or AADR?

AADR is cheaper with a 1.10% expense ratio, compared with 1.24% for DWAW.

Which ETF pays a higher dividend yield, DWAW or AADR?

DWAW has the higher dividend yield at 0.67%, compared with 0.31% for AADR.

What is the main difference between DWAW and AADR?

DWAW is categorized as Large Cap Growth Equities, while AADR is Global Equities. Their fees differ too: 1.24% for DWAW and 1.10% for AADR.

Which has better risk-adjusted returns?

DWAW currently has the higher Sharpe Ratio (1.48 vs 0.37), 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.