DWSH vs. HIPS
DWSH (AdvisorShares Dorsey Wright Short ETF) and HIPS (GraniteShares HIPS US High Income ETF) are both exchange-traded funds - DWSH is a Inverse Equities fund actively managed by AdvisorShares, while HIPS is a Diversified Portfolio fund tracking the TFMS HIPS Index. DWSH is actively managed, while HIPS is passively managed. Over the past 5 years, DWSH returned -3.78%/yr vs 4.33%/yr for HIPS. Their -0.65 correlation means they have often moved in opposite directions in the past. DWSH charges 3.67%/yr vs 3.19%/yr for HIPS.
Performance
DWSH vs. HIPS - Performance Comparison
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Returns By Period
In the year-to-date period, DWSH achieves a -9.98% return, which is significantly lower than HIPS's 4.62% return.
DWSH
- 1D
- 0.31%
- 1M
- -3.70%
- 6M
- -6.79%
- YTD
- -9.98%
- 1Y
- -15.29%
- 3Y*
- -3.09%
- 5Y*
- -3.78%
- 10Y*
- —
- ALL TIME*
- -14.27%
HIPS
- 1D
- 0.00%
- 1M
- 0.85%
- 6M
- 1.87%
- YTD
- 4.62%
- 1Y
- 5.67%
- 3Y*
- 8.76%
- 5Y*
- 4.33%
- 10Y*
- 5.02%
- ALL TIME*
- 4.14%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $237.00K | $562.23K | $413.74K | |
| $944.69K | $745.01K | $727.53K |
DWSH vs. HIPS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DWSH AdvisorShares Dorsey Wright Short ETF | -9.98% | -2.57% | 5.98% | -22.04% | 17.45% | -25.74% | -49.95% | -25.27% | 22.37% |
HIPS GraniteShares HIPS US High Income ETF | 4.62% | 1.00% | 13.71% | 16.09% | -13.47% | 22.65% | -11.74% | 22.94% | -12.35% |
Correlation
The correlation between DWSH and HIPS is -0.50, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.50 |
Correlation (3Y) Balances recent behavior with more history. | -0.58 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.62 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2018 | -0.65 |
The correlation between DWSH and HIPS shifts across timeframes, from -0.65 (all time) to -0.50 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DWSH vs. HIPS — Risk / Return Rank
DWSH
HIPS
DWSH vs. HIPS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Dorsey Wright Short ETF (DWSH) and GraniteShares HIPS US High Income ETF (HIPS). 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 | HIPS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.48 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.09 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 0.80 | -1.48 |
| Martin ratioReturn relative to average drawdown | -1.49 | 1.81 | -3.30 |
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Drawdowns
DWSH vs. HIPS - Drawdown Comparison
The maximum DWSH drawdown since its inception was -83.80%, which is greater than HIPS's maximum drawdown of -53.14%. Use the drawdown chart below to compare losses from any high point for DWSH and HIPS.
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Drawdown Indicators
| DWSH | HIPS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.80% | -53.14% | -30.66% |
Max Drawdown (1Y)Largest decline over 1 year | -20.08% | -6.15% | -13.93% |
Max Drawdown (3Y)Largest decline over 3 years | -33.61% | -15.41% | -18.20% |
Max Drawdown (5Y)Largest decline over 5 years | -37.03% | -21.28% | -15.75% |
Max Drawdown (10Y)Largest decline over 10 years | — | -53.14% | — |
Current DrawdownCurrent decline from peak | -83.27% | -2.99% | -80.28% |
Average DrawdownAverage peak-to-trough decline | -63.94% | -7.34% | -56.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.16% | 2.71% | +6.45% |
Volatility
DWSH vs. HIPS - Volatility Comparison
AdvisorShares Dorsey Wright Short ETF (DWSH) has a higher volatility of 12.07% compared to GraniteShares HIPS US High Income ETF (HIPS) at 1.99%. This indicates that DWSH's price experiences larger fluctuations and is considered to be riskier than HIPS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DWSH | HIPS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.07% | 1.99% | +10.08% |
Volatility (6M)Calculated over the trailing 6-month period | 18.06% | 7.16% | +10.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.80% | 9.71% | +13.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.56% | 13.20% | +13.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.27% | 17.96% | +13.31% |
DWSH vs. HIPS - Expense Ratio Comparison
DWSH has a 3.67% expense ratio, which is higher than HIPS's 3.19% expense ratio.
Dividends
DWSH vs. HIPS - Dividend Comparison
DWSH's dividend yield for the trailing twelve months is around 7.01%, less than HIPS's 11.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DWSH AdvisorShares Dorsey Wright Short ETF | 7.01% | 6.31% | 6.17% | 10.28% | 0.00% | 0.00% | 0.00% | 0.14% | 0.12% | 0.00% | 0.00% | 0.00% |
HIPS GraniteShares HIPS US High Income ETF | 11.26% | 11.04% | 10.04% | 10.32% | 10.76% | 8.43% | 9.50% | 6.93% | 8.66% | 7.28% | 7.20% | 8.17% |
Frequently Asked Questions
DWSH and HIPS have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DWSH has higher volatility (12.07%) compared to HIPS (1.99%). In terms of maximum drawdown, DWSH dropped -83.80% vs HIPS's -53.14%.
On 5-year performance, HIPS leads with 4.33% vs -3.78% for DWSH. On fees, HIPS is cheaper at 3.19% per year. On volatility, HIPS has been the lower-risk option at 1.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HIPS has performed better with a 4.33% return vs -3.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HIPS is cheaper with a 3.19% expense ratio, compared with 3.67% for DWSH.
HIPS has the higher dividend yield at 11.26%, compared with 7.01% for DWSH.
DWSH is categorized as Inverse Equities, while HIPS is Diversified Portfolio. They also come from different issuers: AdvisorShares and GraniteShares. Their fees differ too: 3.67% for DWSH and 3.19% for HIPS.
HIPS currently has the higher Sharpe Ratio (0.51 vs -0.60), 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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