DWSH vs. DSMC

Last updated Jun 25, 2026

DWSH (AdvisorShares Dorsey Wright Short ETF) and DSMC (Distillate Small/Mid Cash Flow ETF) are both exchange-traded funds - DWSH is a Inverse Equities fund actively managed by AdvisorShares, while DSMC is a Small Cap Value Equities fund actively managed by Distillate. Both are actively managed. Over the past 3 years, DWSH returned -4.46%/yr vs 12.74%/yr for DSMC. At a correlation of -0.86, they often move in opposite directions. DWSH charges 3.67%/yr vs 0.55%/yr for DSMC.

Performance

DWSH vs. DSMC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AdvisorShares Dorsey Wright Short ETF (DWSH) and Distillate Small/Mid Cash Flow ETF (DSMC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DWSH achieves a 0.50% return, which is significantly lower than DSMC's 12.92% return.

DWSH

• 1D: -2.09%
• 1M: -0.20%
• YTD: 0.50%
• 6M: 0.96%
• 1Y: -7.85%
• 3Y*: -4.46%
• 5Y*: -1.16%
• 10Y*: —

DSMC

• 1D: 1.14%
• 1M: 1.17%
• YTD: 12.92%
• 6M: 11.32%
• 1Y: 25.47%
• 3Y*: 12.74%
• 5Y*: —
• 10Y*: —

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

DWSH vs. DSMC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DWSH AdvisorShares Dorsey Wright Short ETF	0.50%	-2.57%	5.98%	-22.04%	-3.77%
DSMC Distillate Small/Mid Cash Flow ETF	12.92%	2.73%	2.81%	29.50%	8.50%

Correlation

The correlation between DWSH and DSMC is -0.85, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.85
Correlation (3Y) Calculated over the trailing 3-year period	-0.85
Correlation (All Time) Calculated using the full available price history since Oct 6, 2022	-0.86

The correlation between DWSH and DSMC has been stable across timeframes, ranging from -0.86 to -0.85 - a consistent structural relationship.

DWSH vs. DSMC - Sectors Allocation Comparison

Sectors	DWSH	DSMC
Utilities	-	-
Basic Materials	-0.8%	3.4%
Energy	-1.1%	14.4%
Real Estate	-2.8%	0.4%
Communication Services	-4.8%	5.8%
Financial Services	-9.2%	3.0%
Consumer Defensive	-9.5%	9.0%
Industrials	-12.5%	16.6%
Healthcare	-12.5%	11.0%
Consumer Cyclical	-18.0%	18.7%
Technology	-23.8%	18.0%

Return for Risk

DWSH vs. DSMC — Risk / Return Rank

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

DWSH

DWSH Risk / Return Rank: 6
DWSH Sharpe Ratio Rank: 6
DWSH Sortino Ratio Rank: 6
DWSH Omega Ratio Rank: 6
DWSH Calmar Ratio Rank: 5
DWSH Martin Ratio Rank: 6

DSMC

DSMC Risk / Return Rank: 51
DSMC Sharpe Ratio Rank: 48
DSMC Sortino Ratio Rank: 53
DSMC Omega Ratio Rank: 45
DSMC Calmar Ratio Rank: 57
DSMC Martin Ratio Rank: 53

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.

DWSH vs. DSMC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Dorsey Wright Short ETF (DWSH) and Distillate Small/Mid Cash Flow ETF (DSMC). 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.

	DWSH	DSMC	Difference
Sharpe ratio: Return per unit of total volatility	-0.38	1.48	-1.86
Sortino ratio: Return per unit of downside risk	-0.38	2.26	-2.64
Omega ratio: Gain probability vs. loss probability	0.95	1.26	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.52	2.48	-3.00
Martin ratio: Return relative to average drawdown	-0.86	8.18	-9.04

DWSH vs. DSMC - Sharpe Ratio Comparison

The current DWSH Sharpe Ratio is -0.38, which is lower than the DSMC Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of DWSH and DSMC, 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

DWSH vs. DSMC - Drawdown Comparison

The maximum DWSH drawdown since its inception was -82.73%, which is greater than DSMC's maximum drawdown of -28.62%. Use the drawdown chart below to compare losses from any high point for DWSH and DSMC.

Drawdown Indicators

	DWSH	DSMC	Difference
Max Drawdown Largest peak-to-trough decline	-82.73%	-28.62%	-54.11%
Max Drawdown (1Y) Largest decline over 1 year	-15.13%	-10.33%	-4.80%
Max Drawdown (3Y) Largest decline over 3 years	-29.23%	-28.62%	-0.61%
Max Drawdown (5Y) Largest decline over 5 years	-32.87%	—	—
Current Drawdown Current decline from peak	-81.32%	-2.03%	-79.29%
Average Drawdown Average peak-to-trough decline	-63.70%	-5.93%	-57.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.10%	3.12%	+5.98%

Volatility

DWSH vs. DSMC - Volatility Comparison

AdvisorShares Dorsey Wright Short ETF (DWSH) has a higher volatility of 6.86% compared to Distillate Small/Mid Cash Flow ETF (DSMC) at 4.19%. This indicates that DWSH's price experiences larger fluctuations and is considered to be riskier than DSMC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DWSH	DSMC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.86%	4.19%	+2.67%
Volatility (6M) Calculated over the trailing 6-month period	14.48%	10.54%	+3.94%
Volatility (1Y) Calculated over the trailing 1-year period	21.03%	17.24%	+3.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.01%	20.30%	+5.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.15%	20.30%	+10.85%

DWSH vs. DSMC - Expense Ratio Comparison

DWSH has a 3.67% expense ratio, which is higher than DSMC's 0.55% expense ratio.

Dividends

DWSH vs. DSMC - Dividend Comparison

DWSH's dividend yield for the trailing twelve months is around 6.28%, more than DSMC's 1.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DSMC Distillate Small/Mid Cash Flow ETF	1.13%	1.18%	1.31%	1.02%	0.27%	0.00%	0.00%	0.00%	0.00%
DWSH AdvisorShares Dorsey Wright Short ETF	6.28%	6.31%	6.17%	10.28%	0.00%	0.00%	0.00%	0.14%	0.12%

Frequently Asked Questions

Can I hold both DWSH and DSMC in my portfolio?

DWSH and DSMC have a correlation of -0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DWSH or DSMC?

DWSH has higher volatility (6.86%) compared to DSMC (4.19%). In terms of maximum drawdown, DWSH dropped -82.73% vs DSMC's -28.62%.

Which ETF is better, DWSH or DSMC?

On 3-year performance, DSMC leads with 12.74% vs -4.46% for DWSH. On fees, DSMC is cheaper at 0.55% per year. On volatility, DSMC has been the lower-risk option at 4.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DWSH or DSMC?

Over the 3-year period, DSMC has performed better with a 12.74% return vs -4.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DWSH or DSMC?

DSMC is cheaper with a 0.55% expense ratio, compared with 3.67% for DWSH.

Which ETF pays a higher dividend yield, DWSH or DSMC?

DWSH has the higher dividend yield at 6.28%, compared with 1.13% for DSMC.

What is the main difference between DWSH and DSMC?

DWSH is categorized as Inverse Equities, while DSMC is Small Cap Value Equities. They also come from different issuers: AdvisorShares and Distillate. Their fees differ too: 3.67% for DWSH and 0.55% for DSMC.

Which has better risk-adjusted returns?

DSMC currently has the higher Sharpe Ratio (1.48 vs -0.38), 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.