DWAW vs. MSOX

Last updated Aug 2, 2026

DWAW (AdvisorShares Dorsey Wright FSM All Cap World ETF) and MSOX (Advisorshares Msos 2x Daily ETF) are both exchange-traded funds - DWAW is a Large Cap Growth Equities fund actively managed by AdvisorShares, while MSOX is a Leveraged Equities fund actively managed by AdvisorShares. Both are actively managed. Over the past 3 years, DWAW returned 16.07%/yr vs -66.81%/yr for MSOX. Their 0.22 correlation means their historical movements had little consistent relationship. DWAW charges 1.24%/yr vs 0.95%/yr for MSOX.

Performance

DWAW vs. MSOX - 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 Msos 2x Daily ETF (MSOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DWAW achieves a 12.39% return, which is significantly higher than MSOX's -49.55% return.

DWAW

• 1D: -0.52%
• 1M: -1.23%
• 6M: 9.45%
• YTD: 12.39%
• 1Y: 21.26%
• 3Y*: 16.07%
• 5Y*: 7.35%
• 10Y*: —
• ALL TIME*: 15.57%

MSOX

• 1D: 0.44%
• 1M: -27.56%
• 6M: -30.25%
• YTD: -49.55%
• 1Y: -44.33%
• 3Y*: -66.81%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -74.69%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DWAW AdvisorShares Dorsey Wright FSM All Cap World ETF	$31.55K	$26.41K	$94.07K
MSOX Advisorshares Msos 2x Daily ETF	$3.60M	$4.46M	$7.39M

DWAW vs. MSOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DWAW AdvisorShares Dorsey Wright FSM All Cap World ETF	12.39%	10.85%	18.48%	11.18%	-2.16%
MSOX Advisorshares Msos 2x Daily ETF	-49.55%	-51.20%	-87.32%	-39.26%	-76.29%

Correlation

The correlation between DWAW and MSOX is 0.24, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.24
Correlation (3Y) Balances recent behavior with more history.	0.21
Correlation (All Time) Calculated using the full available price history since Aug 24, 2022	0.22

DWAW vs. MSOX - Sectors Allocation Comparison

Sectors	DWAW	MSOX
Technology	32.6%	-
Financial Services	18.4%	184.5%
Industrials	10.9%	-
Healthcare	7.7%	-
Consumer Cyclical	7.5%	-
Communication Services	6.3%	-
Energy	4.4%	-
Basic Materials	4.3%	-
Consumer Defensive	3.8%	-
Utilities	2.8%	-
Real Estate	1.4%	-

Return for Risk

DWAW vs. MSOX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DWAW

DWAW Risk / Return Rank: 51
DWAW Sharpe Ratio Rank: 50
DWAW Sortino Ratio Rank: 48
DWAW Omega Ratio Rank: 48
DWAW Calmar Ratio Rank: 51
DWAW Martin Ratio Rank: 57

MSOX

MSOX Risk / Return Rank: 18
MSOX Sharpe Ratio Rank: 8
MSOX Sortino Ratio Rank: 38
MSOX Omega Ratio Rank: 33
MSOX Calmar Ratio Rank: 6
MSOX Martin Ratio Rank: 7

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DWAW vs. MSOX - 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 Msos 2x Daily ETF (MSOX). 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	MSOX	Difference
Sharpe ratio: Return per unit of total volatility	1.22	-0.16	+1.38
Sortino ratio: Return per unit of downside risk	1.75	1.40	+0.35
Omega ratio: Gain probability vs. loss probability	1.22	1.16	+0.06
Calmar ratio: Return relative to maximum drawdown	1.82	-0.41	+2.24
Martin ratio: Return relative to average drawdown	6.77	-0.56	+7.33

DWAW vs. MSOX - Sharpe Ratio Comparison

The current DWAW Sharpe Ratio is 1.22, which is higher than the MSOX Sharpe Ratio of -0.16. The chart below compares the historical Sharpe Ratios of DWAW and MSOX, 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. MSOX - Drawdown Comparison

The maximum DWAW drawdown since its inception was -31.55%, smaller than the maximum MSOX drawdown of -99.75%. Use the drawdown chart below to compare losses from any high point for DWAW and MSOX.

Drawdown Indicators

	DWAW	MSOX	Difference
Max Drawdown Largest peak-to-trough decline	-31.55%	-99.75%	+68.20%
Max Drawdown (1Y) Largest decline over 1 year	-11.58%	-84.89%	+73.31%
Max Drawdown (3Y) Largest decline over 3 years	-22.91%	-98.83%	+75.92%
Max Drawdown (5Y) Largest decline over 5 years	-28.43%	—	—
Current Drawdown Current decline from peak	-4.38%	-99.67%	+95.29%
Average Drawdown Average peak-to-trough decline	-10.78%	-89.19%	+78.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	62.34%	-59.23%

Volatility

DWAW vs. MSOX - Volatility Comparison

The current volatility for AdvisorShares Dorsey Wright FSM All Cap World ETF (DWAW) is 4.70%, while Advisorshares Msos 2x Daily ETF (MSOX) has a volatility of 25.51%. This indicates that DWAW experiences smaller price fluctuations and is considered to be less risky than MSOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DWAW	MSOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.70%	25.51%	-20.81%
Volatility (6M) Calculated over the trailing 6-month period	14.82%	110.30%	-95.48%
Volatility (1Y) Calculated over the trailing 1-year period	17.33%	217.82%	-200.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.27%	166.50%	-147.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.46%	166.50%	-142.04%

DWAW vs. MSOX - Expense Ratio Comparison

DWAW has a 1.24% expense ratio, which is higher than MSOX's 0.95% expense ratio.

Dividends

DWAW vs. MSOX - Dividend Comparison

DWAW's dividend yield for the trailing twelve months is around 0.68%, while MSOX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
DWAW AdvisorShares Dorsey Wright FSM All Cap World ETF	0.68%	0.76%	0.00%	1.70%	0.53%	1.45%	0.16%
MSOX Advisorshares Msos 2x Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DWAW and MSOX in my portfolio?

DWAW and MSOX have a correlation of 0.24, 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 MSOX?

MSOX has higher volatility (25.51%) compared to DWAW (4.70%). In terms of maximum drawdown, DWAW dropped -31.55% vs MSOX's -99.75%.

Which ETF is better, DWAW or MSOX?

On 3-year performance, DWAW leads with 16.07% vs -66.81% for MSOX. On fees, MSOX is cheaper at 0.95% per year. On volatility, DWAW has been the lower-risk option at 4.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DWAW or MSOX?

Over the 3-year period, DWAW has performed better with a 16.07% return vs -66.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DWAW or MSOX?

MSOX is cheaper with a 0.95% expense ratio, compared with 1.24% for DWAW.

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

DWAW has the higher dividend yield at 0.68%, compared with 0.00% for MSOX.

What is the main difference between DWAW and MSOX?

DWAW is categorized as Large Cap Growth Equities, while MSOX is Leveraged Equities. Their fees differ too: 1.24% for DWAW and 0.95% for MSOX.

Which has better risk-adjusted returns?

DWAW currently has the higher Sharpe Ratio (1.22 vs -0.16), 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.