DWSH vs. JAAA
DWSH (AdvisorShares Dorsey Wright Short ETF) and JAAA (Janus Henderson AAA CLO ETF) are both exchange-traded funds - DWSH is a Inverse Equities fund actively managed by AdvisorShares, while JAAA is a CLO fund actively managed by Janus Henderson. Both are actively managed. Over the past 5 years, DWSH returned -4.38%/yr vs 4.89%/yr for JAAA. Their -0.09 correlation means they have often moved in opposite directions in the past. DWSH charges 3.67%/yr vs 0.20%/yr for JAAA.
Performance
DWSH vs. JAAA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DWSH achieves a -11.96% return, which is significantly lower than JAAA's 2.62% return.
DWSH
- 1D
- -2.20%
- 1M
- -5.81%
- 6M
- -8.92%
- YTD
- -11.96%
- 1Y
- -17.15%
- 3Y*
- -4.29%
- 5Y*
- -4.38%
- 10Y*
- —
- ALL TIME*
- -14.49%
JAAA
- 1D
- 0.02%
- 1M
- 0.32%
- 6M
- 2.03%
- YTD
- 2.62%
- 1Y
- 4.91%
- 3Y*
- 6.18%
- 5Y*
- 4.89%
- 10Y*
- —
- ALL TIME*
- 4.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $237.81K | $562.58K | $421.31K | |
| $270.67M | $249.72M | $261.40M |
DWSH vs. JAAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DWSH AdvisorShares Dorsey Wright Short ETF | -11.96% | -2.57% | 5.98% | -22.04% | 17.45% | -25.74% | -35.04% |
JAAA Janus Henderson AAA CLO ETF | 2.62% | 5.16% | 7.43% | 8.59% | 0.49% | 1.39% | 0.76% |
Correlation
The correlation between DWSH and JAAA is -0.11, 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. | -0.11 |
Correlation (3Y) Balances recent behavior with more history. | -0.13 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.10 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2020 | -0.09 |
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. JAAA — Risk / Return Rank
DWSH
JAAA
DWSH vs. JAAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Dorsey Wright Short ETF (DWSH) and Janus Henderson AAA CLO ETF (JAAA). 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 | JAAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.99 | ||
| Sortino ratioReturn per unit of downside risk | -11.23 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 2.86 | -1.97 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 12.71 | -13.57 |
| Martin ratioReturn relative to average drawdown | -1.88 | 69.11 | -70.99 |
Loading charts...
Drawdowns
DWSH vs. JAAA - Drawdown Comparison
The maximum DWSH drawdown since its inception was -83.80%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for DWSH and JAAA.
Loading charts...
Drawdown Indicators
| DWSH | JAAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.80% | -2.64% | -81.16% |
Max Drawdown (1Y)Largest decline over 1 year | -20.08% | -0.39% | -19.69% |
Max Drawdown (3Y)Largest decline over 3 years | -33.61% | -1.46% | -32.15% |
Max Drawdown (5Y)Largest decline over 5 years | -37.03% | -2.64% | -34.39% |
Current DrawdownCurrent decline from peak | -83.64% | 0.00% | -83.64% |
Average DrawdownAverage peak-to-trough decline | -63.95% | -0.24% | -63.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.24% | 0.07% | +9.17% |
Volatility
DWSH vs. JAAA - Volatility Comparison
AdvisorShares Dorsey Wright Short ETF (DWSH) has a higher volatility of 12.14% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.13%. This indicates that DWSH's price experiences larger fluctuations and is considered to be riskier than JAAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DWSH | JAAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.14% | 0.13% | +12.01% |
Volatility (6M)Calculated over the trailing 6-month period | 18.18% | 0.61% | +17.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.70% | 0.79% | +21.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.59% | 1.66% | +24.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.27% | 1.62% | +29.65% |
DWSH vs. JAAA - Expense Ratio Comparison
DWSH has a 3.67% expense ratio, which is higher than JAAA's 0.20% expense ratio.
Dividends
DWSH vs. JAAA - Dividend Comparison
DWSH's dividend yield for the trailing twelve months is around 7.17%, more than JAAA's 4.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DWSH AdvisorShares Dorsey Wright Short ETF | 7.17% | 6.31% | 6.17% | 10.28% | 0.00% | 0.00% | 0.00% | 0.14% | 0.12% |
JAAA Janus Henderson AAA CLO ETF | 4.93% | 5.30% | 6.35% | 6.11% | 2.74% | 1.21% | 0.26% | 0.00% | 0.00% |
Frequently Asked Questions
DWSH and JAAA have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DWSH has higher volatility (12.14%) compared to JAAA (0.13%). In terms of maximum drawdown, DWSH dropped -83.80% vs JAAA's -2.64%.
On 5-year performance, JAAA leads with 4.89% vs -4.38% for DWSH. On fees, JAAA is cheaper at 0.20% per year. On volatility, JAAA has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JAAA has performed better with a 4.89% return vs -4.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JAAA is cheaper with a 0.20% expense ratio, compared with 3.67% for DWSH.
DWSH has the higher dividend yield at 7.17%, compared with 4.93% for JAAA.
DWSH is categorized as Inverse Equities, while JAAA is CLO. They also come from different issuers: AdvisorShares and Janus Henderson. Their fees differ too: 3.67% for DWSH and 0.20% for JAAA.
JAAA currently has the higher Sharpe Ratio (6.23 vs -0.76), 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 JAAA
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