DWSH vs. EFZ
DWSH (AdvisorShares Dorsey Wright Short ETF) and EFZ (ProShares Short MSCI EAFE) are both Inverse Equities funds. DWSH is actively managed, while EFZ is passively managed. Over the past 5 years, DWSH returned -1.61%/yr vs -5.38%/yr for EFZ. A 0.64 correlation means they provide meaningful diversification when combined. DWSH charges 3.67%/yr vs 0.95%/yr for EFZ.
Performance
DWSH vs. EFZ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DWSH achieves a 0.85% return, which is significantly higher than EFZ's -6.98% return.
DWSH
- 1D
- 2.36%
- 1M
- 0.62%
- YTD
- 0.85%
- 6M
- 1.07%
- 1Y
- -10.40%
- 3Y*
- -4.14%
- 5Y*
- -1.61%
- 10Y*
- —
EFZ
- 1D
- 0.88%
- 1M
- -3.23%
- YTD
- -6.98%
- 6M
- -8.53%
- 1Y
- -14.24%
- 3Y*
- -9.77%
- 5Y*
- -5.38%
- 10Y*
- -8.29%
DWSH vs. EFZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DWSH AdvisorShares Dorsey Wright Short ETF | 0.85% | -2.57% | 5.98% | -22.04% | 17.45% | -25.74% | -49.95% | -25.27% | 22.28% |
EFZ ProShares Short MSCI EAFE | -6.98% | -20.92% | 2.90% | -10.38% | 13.15% | -12.75% | -16.02% | -16.56% | 13.32% |
Correlation
The correlation between DWSH and EFZ is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2018 | 0.64 |
The correlation between DWSH and EFZ shifts across timeframes, from 0.45 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DWSH vs. EFZ — Risk / Return Rank
DWSH
EFZ
DWSH vs. EFZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Dorsey Wright Short ETF (DWSH) and ProShares Short MSCI EAFE (EFZ). 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.
| DWSH | EFZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 0.86 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | -0.82 | +0.25 |
| Martin ratioReturn relative to average drawdown | -0.88 | -1.47 | +0.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| DWSH | EFZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.50 | -0.88 | +0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.06 | -0.32 | +0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.48 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.43 | -0.34 | -0.09 |
Drawdowns
DWSH vs. EFZ - Drawdown Comparison
The maximum DWSH drawdown since its inception was -82.73%, smaller than the maximum EFZ drawdown of -88.08%. Use the drawdown chart below to compare losses from any high point for DWSH and EFZ.
Loading charts...
Drawdown Indicators
| DWSH | EFZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.73% | -88.08% | +5.35% |
Max Drawdown (1Y)Largest decline over 1 year | -18.08% | -17.36% | -0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -29.23% | -35.42% | +6.19% |
Max Drawdown (5Y)Largest decline over 5 years | -32.87% | -43.77% | +10.90% |
Max Drawdown (10Y)Largest decline over 10 years | — | -61.88% | — |
Current DrawdownCurrent decline from peak | -81.25% | -87.82% | +6.57% |
Average DrawdownAverage peak-to-trough decline | -63.61% | -67.08% | +3.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.82% | 9.71% | +2.11% |
Volatility
DWSH vs. EFZ - Volatility Comparison
AdvisorShares Dorsey Wright Short ETF (DWSH) has a higher volatility of 6.08% compared to ProShares Short MSCI EAFE (EFZ) at 5.19%. This indicates that DWSH's price experiences larger fluctuations and is considered to be riskier than EFZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DWSH | EFZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.08% | 5.19% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 13.93% | 13.49% | +0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.19% | 16.35% | +4.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.93% | 16.72% | +9.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.22% | 17.38% | +13.84% |
DWSH vs. EFZ - Expense Ratio Comparison
DWSH has a 3.67% expense ratio, which is higher than EFZ's 0.95% expense ratio.
Dividends
DWSH vs. EFZ - Dividend Comparison
DWSH's dividend yield for the trailing twelve months is around 6.26%, more than EFZ's 4.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DWSH AdvisorShares Dorsey Wright Short ETF | 6.26% | 6.31% | 6.17% | 10.28% | 0.00% | 0.00% | 0.00% | 0.14% | 0.12% |
EFZ ProShares Short MSCI EAFE | 4.04% | 4.55% | 5.29% | 4.66% | 0.57% | 0.00% | 0.04% | 1.56% | 0.34% |
Frequently Asked Questions
DWSH and EFZ have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DWSH has higher volatility (6.08%) compared to EFZ (5.19%). In terms of maximum drawdown, DWSH dropped -82.73% vs EFZ's -88.08%.
On 5-year performance, DWSH leads with -1.61% vs -5.38% for EFZ. On fees, EFZ is cheaper at 0.95% per year. On volatility, EFZ has been the lower-risk option at 5.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DWSH has performed better with a -1.61% return vs -5.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EFZ is cheaper with a 0.95% expense ratio, compared with 3.67% for DWSH.
DWSH has the higher dividend yield at 6.26%, compared with 4.04% for EFZ.
They also come from different issuers: AdvisorShares and ProShares. Their fees differ too: 3.67% for DWSH and 0.95% for EFZ.
DWSH currently has the higher Sharpe Ratio (-0.50 vs -0.88), 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.
Find the right allocation for DWSH and EFZ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer