DWAW vs. DARP

Last updated Jun 25, 2026

DWAW (AdvisorShares Dorsey Wright FSM All Cap World ETF) and DARP (Grizzle Growth ETF) are both Large Cap Growth Equities funds. Both are actively managed. Over the past year, DWAW returned 23.28% vs 64.67% for DARP. Their correlation of 0.82 suggests significant overlap in exposure. DWAW charges 1.24%/yr vs 0.75%/yr for DARP.

Performance

DWAW vs. DARP - 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 Grizzle Growth ETF (DARP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DWAW achieves a 13.57% return, which is significantly lower than DARP's 26.29% return.

DWAW

• 1D: -0.38%
• 1M: 1.23%
• YTD: 13.57%
• 6M: 12.40%
• 1Y: 23.28%
• 3Y*: 18.60%
• 5Y*: 7.26%
• 10Y*: —

DARP

• 1D: 0.07%
• 1M: -1.69%
• YTD: 26.29%
• 6M: 25.20%
• 1Y: 64.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DWAW vs. DARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DWAW AdvisorShares Dorsey Wright FSM All Cap World ETF	13.57%	10.85%	18.48%	12.30%
DARP Grizzle Growth ETF	26.29%	40.19%	24.63%	6.25%

Correlation

The correlation between DWAW and DARP is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (All Time) Calculated using the full available price history since Aug 28, 2023	0.82

The correlation between DWAW and DARP has been stable across timeframes, ranging from 0.82 to 0.82 - a consistent structural relationship.

DWAW vs. DARP - Sectors Allocation Comparison

Sectors	DWAW	DARP
Technology	33.0%	49.5%
Financial Services	17.5%	-
Industrials	11.3%	7.7%
Healthcare	7.7%	1.4%
Consumer Cyclical	7.5%	5.6%
Communication Services	6.0%	17.2%
Basic Materials	4.5%	3.2%
Energy	4.5%	8.2%
Consumer Defensive	3.9%	-
Utilities	2.8%	4.6%
Real Estate	1.4%	-

Return for Risk

DWAW vs. DARP — Risk / Return Rank

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

DWAW

DWAW Risk / Return Rank: 46
DWAW Sharpe Ratio Rank: 45
DWAW Sortino Ratio Rank: 43
DWAW Omega Ratio Rank: 44
DWAW Calmar Ratio Rank: 46
DWAW Martin Ratio Rank: 53

DARP

DARP Risk / Return Rank: 86
DARP Sharpe Ratio Rank: 89
DARP Sortino Ratio Rank: 78
DARP Omega Ratio Rank: 79
DARP Calmar Ratio Rank: 92
DARP Martin Ratio Rank: 91

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. DARP - 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 Grizzle Growth ETF (DARP). 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	DARP	Difference
Sharpe ratio: Return per unit of total volatility	1.40	2.63	-1.23
Sortino ratio: Return per unit of downside risk	1.96	3.05	-1.09
Omega ratio: Gain probability vs. loss probability	1.26	1.41	-0.15
Calmar ratio: Return relative to maximum drawdown	2.02	5.50	-3.48
Martin ratio: Return relative to average drawdown	8.02	19.42	-11.40

DWAW vs. DARP - Sharpe Ratio Comparison

The current DWAW Sharpe Ratio is 1.40, which is lower than the DARP Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of DWAW and DARP, 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. DARP - Drawdown Comparison

The maximum DWAW drawdown since its inception was -31.55%, roughly equal to the maximum DARP drawdown of -30.27%. Use the drawdown chart below to compare losses from any high point for DWAW and DARP.

Drawdown Indicators

	DWAW	DARP	Difference
Max Drawdown Largest peak-to-trough decline	-31.55%	-30.27%	-1.28%
Max Drawdown (1Y) Largest decline over 1 year	-11.58%	-11.82%	+0.24%
Max Drawdown (3Y) Largest decline over 3 years	-22.91%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.43%	—	—
Current Drawdown Current decline from peak	-3.38%	-5.53%	+2.15%
Average Drawdown Average peak-to-trough decline	-10.90%	-4.64%	-6.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	3.34%	-0.43%

Volatility

DWAW vs. DARP - Volatility Comparison

The current volatility for AdvisorShares Dorsey Wright FSM All Cap World ETF (DWAW) is 7.22%, while Grizzle Growth ETF (DARP) has a volatility of 10.70%. This indicates that DWAW experiences smaller price fluctuations and is considered to be less risky than DARP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DWAW	DARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.22%	10.70%	-3.48%
Volatility (6M) Calculated over the trailing 6-month period	14.29%	19.06%	-4.77%
Volatility (1Y) Calculated over the trailing 1-year period	16.74%	24.83%	-8.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.30%	26.47%	-7.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.57%	26.47%	-1.90%

DWAW vs. DARP - Expense Ratio Comparison

DWAW has a 1.24% expense ratio, which is higher than DARP's 0.75% expense ratio.

Dividends

DWAW vs. DARP - Dividend Comparison

DWAW's dividend yield for the trailing twelve months is around 0.67%, more than DARP's 0.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
DARP Grizzle Growth ETF	0.34%	0.43%	1.93%	0.32%	0.00%	0.00%	0.00%
DWAW AdvisorShares Dorsey Wright FSM All Cap World ETF	0.67%	0.76%	0.00%	1.70%	0.53%	1.45%	0.16%

Frequently Asked Questions

Can I hold both DWAW and DARP in my portfolio?

DWAW and DARP have a correlation of 0.82, 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 DARP?

DARP has higher volatility (10.70%) compared to DWAW (7.22%). In terms of maximum drawdown, DWAW dropped -31.55% vs DARP's -30.27%.

Which ETF is better, DWAW or DARP?

On 1-year performance, DARP leads with 64.67% vs 23.28% for DWAW. On fees, DARP is cheaper at 0.75% per year. On volatility, DWAW has been the lower-risk option at 7.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DWAW or DARP?

Over the 1-year period, DARP has performed better with a 64.67% return vs 23.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DWAW or DARP?

DARP is cheaper with a 0.75% expense ratio, compared with 1.24% for DWAW.

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

DWAW has the higher dividend yield at 0.67%, compared with 0.34% for DARP.

What is the main difference between DWAW and DARP?

They also come from different issuers: AdvisorShares and Grizzle. Their fees differ too: 1.24% for DWAW and 0.75% for DARP.

Which has better risk-adjusted returns?

DARP currently has the higher Sharpe Ratio (2.63 vs 1.40), 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.