DWAW vs. DARP

Last updated Apr 1, 2026

Compare and contrast key facts about AdvisorShares Dorsey Wright FSM All Cap World ETF (DWAW) and Grizzle Growth ETF (DARP).

DWAW and DARP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DWAW is an actively managed fund by AdvisorShares. It was launched on Dec 26, 2019. DARP is an actively managed fund by Grizzle. It was launched on Dec 15, 2021.

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.

DWAW vs. DARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DWAW AdvisorShares Dorsey Wright FSM All Cap World ETF	-2.84%	10.85%	18.48%	11.43%
DARP Grizzle Growth ETF	4.29%	40.19%	24.63%	6.25%

Returns By Period

In the year-to-date period, DWAW achieves a -2.84% return, which is significantly lower than DARP's 4.29% return.

DWAW

• 1D: 3.53%
• 1M: -7.73%
• YTD: -2.84%
• 6M: -1.46%
• 1Y: 16.88%
• 3Y*: 12.22%
• 5Y*: 3.78%
• 10Y*: —

DARP

• 1D: 3.09%
• 1M: -6.88%
• YTD: 4.29%
• 6M: 13.93%
• 1Y: 64.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DWAW vs. DARP - Expense Ratio Comparison

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

DWAW

AdvisorShares Dorsey Wright FSM All Cap World ETF

DARP

Grizzle Growth ETF

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: 48
DWAW Sharpe Ratio Rank: 44
DWAW Sortino Ratio Rank: 46
DWAW Omega Ratio Rank: 50
DWAW Calmar Ratio Rank: 49
DWAW Martin Ratio Rank: 54

DARP

DARP Risk / Return Rank: 93
DARP Sharpe Ratio Rank: 93
DARP Sortino Ratio Rank: 92
DARP Omega Ratio Rank: 91
DARP Calmar Ratio Rank: 95
DARP Martin Ratio Rank: 96

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.

	DWAW	DARP	Difference
Sharpe ratio Return per unit of total volatility	0.80	2.19	-1.38
Sortino ratio Return per unit of downside risk	1.26	2.73	-1.48
Omega ratio Gain probability vs. loss probability	1.19	1.39	-0.20
Calmar ratio Return relative to maximum drawdown	1.27	3.97	-2.70
Martin ratio Return relative to average drawdown	5.24	16.42	-11.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DWAW vs. DARP - Sharpe Ratio Comparison

The current DWAW Sharpe Ratio is 0.80, which is lower than the DARP Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of DWAW and DARP, 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

	DWAW	DARP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	2.19	-1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	1.11	-0.67

Correlation

The correlation between DWAW and DARP is 0.82, 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

DWAW vs. DARP - Dividend Comparison

DWAW's dividend yield for the trailing twelve months is around 0.78%, more than DARP's 0.42% yield.

	TTM	2025	2024	2023	2022	2021	2020
DWAW AdvisorShares Dorsey Wright FSM All Cap World ETF	0.78%	0.76%	0.00%	1.70%	0.53%	1.45%	0.16%
DARP Grizzle Growth ETF	0.42%	0.43%	1.93%	0.32%	0.00%	0.00%	0.00%

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	-13.40%	-15.92%	+2.52%
Max Drawdown (5Y) Largest decline over 5 years	-28.43%	—	—
Current Drawdown Current decline from peak	-8.47%	-9.09%	+0.62%
Average Drawdown Average peak-to-trough decline	-11.24%	-4.84%	-6.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	3.85%	-0.59%

Volatility

DWAW vs. DARP - Volatility Comparison

The current volatility for AdvisorShares Dorsey Wright FSM All Cap World ETF (DWAW) is 7.99%, while Grizzle Growth ETF (DARP) has a volatility of 9.51%. 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	7.99%	9.51%	-1.52%
Volatility (6M) Calculated over the trailing 6-month period	12.30%	19.28%	-6.98%
Volatility (1Y) Calculated over the trailing 1-year period	21.14%	29.51%	-8.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.02%	26.42%	-7.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.50%	26.42%	-3.92%