DWSH vs. EMTY
DWSH (AdvisorShares Dorsey Wright Short ETF) and EMTY (ProShares Decline of the Retail Store ETF) are both Inverse Equities funds. DWSH is actively managed, while EMTY is passively managed. Over the past 5 years, DWSH returned -1.61%/yr vs -2.87%/yr for EMTY. A 0.72 correlation means they provide meaningful diversification when combined. DWSH charges 3.67%/yr vs 0.66%/yr for EMTY.
Performance
DWSH vs. EMTY - Performance Comparison
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Returns By Period
In the year-to-date period, DWSH achieves a 0.85% return, which is significantly lower than EMTY's 1.09% return.
DWSH
- 1D
- 2.36%
- 1M
- 0.62%
- YTD
- 0.85%
- 6M
- 1.07%
- 1Y
- -10.40%
- 3Y*
- -4.14%
- 5Y*
- -1.61%
- 10Y*
- —
EMTY
- 1D
- -0.32%
- 1M
- 1.81%
- YTD
- 1.09%
- 6M
- 3.80%
- 1Y
- 1.60%
- 3Y*
- -4.69%
- 5Y*
- -2.87%
- 10Y*
- —
DWSH vs. EMTY - 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% |
EMTY ProShares Decline of the Retail Store ETF | 1.09% | -1.76% | -4.13% | 0.27% | 4.32% | -37.39% | -31.92% | -8.65% | 16.13% |
Correlation
The correlation between DWSH and EMTY is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2018 | 0.72 |
The correlation between DWSH and EMTY shifts across timeframes, from 0.59 (1 year) to 0.72 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
DWSH vs. EMTY — Risk / Return Rank
DWSH
EMTY
DWSH vs. EMTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Dorsey Wright Short ETF (DWSH) and ProShares Decline of the Retail Store ETF (EMTY). 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 | EMTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.03 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | 0.11 | -0.69 |
| Martin ratioReturn relative to average drawdown | -0.88 | 0.20 | -1.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DWSH | EMTY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.50 | 0.09 | -0.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.06 | -0.13 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.43 | -0.43 | 0.00 |
Drawdowns
DWSH vs. EMTY - Drawdown Comparison
The maximum DWSH drawdown since its inception was -82.73%, which is greater than EMTY's maximum drawdown of -77.62%. Use the drawdown chart below to compare losses from any high point for DWSH and EMTY.
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Drawdown Indicators
| DWSH | EMTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.73% | -77.62% | -5.11% |
Max Drawdown (1Y)Largest decline over 1 year | -18.08% | -14.00% | -4.08% |
Max Drawdown (3Y)Largest decline over 3 years | -29.23% | -30.83% | +1.60% |
Max Drawdown (5Y)Largest decline over 5 years | -32.87% | -30.83% | -2.04% |
Current DrawdownCurrent decline from peak | -81.25% | -74.77% | -6.48% |
Average DrawdownAverage peak-to-trough decline | -63.61% | -54.01% | -9.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.82% | 8.11% | +3.71% |
Volatility
DWSH vs. EMTY - Volatility Comparison
AdvisorShares Dorsey Wright Short ETF (DWSH) and ProShares Decline of the Retail Store ETF (EMTY) have volatilities of 6.08% and 6.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DWSH | EMTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.08% | 6.00% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 13.93% | 12.40% | +1.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.19% | 17.71% | +3.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.93% | 22.36% | +3.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.22% | 25.67% | +5.55% |
DWSH vs. EMTY - Expense Ratio Comparison
DWSH has a 3.67% expense ratio, which is higher than EMTY's 0.66% expense ratio.
Dividends
DWSH vs. EMTY - Dividend Comparison
DWSH's dividend yield for the trailing twelve months is around 6.26%, more than EMTY's 3.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DWSH AdvisorShares Dorsey Wright Short ETF | 6.26% | 6.31% | 6.17% | 10.28% | 0.00% | 0.00% | 0.00% | 0.14% | 0.12% | 0.00% |
EMTY ProShares Decline of the Retail Store ETF | 3.45% | 3.83% | 6.00% | 4.41% | 0.65% | 0.00% | 0.07% | 0.82% | 0.62% | 0.03% |
Frequently Asked Questions
DWSH and EMTY have a correlation of 0.59, 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 EMTY (6.00%). In terms of maximum drawdown, DWSH dropped -82.73% vs EMTY's -77.62%.
On 5-year performance, DWSH leads with -1.61% vs -2.87% for EMTY. On fees, EMTY is cheaper at 0.66% per year. Their volatility is very similar. 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 -2.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMTY is cheaper with a 0.66% expense ratio, compared with 3.67% for DWSH.
DWSH has the higher dividend yield at 6.26%, compared with 3.45% for EMTY.
They also come from different issuers: AdvisorShares and ProShares. Their fees differ too: 3.67% for DWSH and 0.66% for EMTY.
EMTY currently has the higher Sharpe Ratio (0.09 vs -0.50), 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.
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