DWSH vs. TRBUX

Last updated Jun 24, 2026

DWSH (AdvisorShares Dorsey Wright Short ETF) and TRBUX (T. Rowe Price Ultra Short-Term Bond Fund) are both funds - DWSH is a Inverse Equities fund actively managed by AdvisorShares, while TRBUX is a Ultrashort Bond fund managed by T. Rowe Price. Over the past 5 years, DWSH returned -0.92%/yr vs 4.28%/yr for TRBUX. At a 0.01 correlation, their price movements are largely independent. DWSH charges 3.67%/yr vs 0.31%/yr for TRBUX.

Performance

DWSH vs. TRBUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AdvisorShares Dorsey Wright Short ETF (DWSH) and T. Rowe Price Ultra Short-Term Bond Fund (TRBUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DWSH achieves a 2.65% return, which is significantly higher than TRBUX's 1.39% return.

DWSH

• 1D: -0.90%
• 1M: 1.93%
• YTD: 2.65%
• 6M: 2.01%
• 1Y: -7.25%
• 3Y*: -3.79%
• 5Y*: -0.92%
• 10Y*: —

TRBUX

• 1D: 0.00%
• 1M: 0.36%
• YTD: 1.39%
• 6M: 2.18%
• 1Y: 6.22%
• 3Y*: 6.68%
• 5Y*: 4.28%
• 10Y*: 3.29%

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

DWSH vs. TRBUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DWSH AdvisorShares Dorsey Wright Short ETF	2.65%	-2.57%	5.98%	-22.04%	17.45%	-25.74%	-49.95%	-25.27%	22.37%
TRBUX T. Rowe Price Ultra Short-Term Bond Fund	1.39%	6.88%	7.88%	6.99%	-1.28%	0.22%	3.11%	3.60%	1.00%

Correlation

The correlation between DWSH and TRBUX is -0.11, 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	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (5Y) Calculated over the trailing 5-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Jul 11, 2018	0.01

The correlation between DWSH and TRBUX shifts across timeframes, from -0.11 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DWSH vs. TRBUX — 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: 5

TRBUX

TRBUX Risk / Return Rank: 99
TRBUX Sharpe Ratio Rank: 98
TRBUX Sortino Ratio Rank: 99
TRBUX Omega Ratio Rank: 99
TRBUX Calmar Ratio Rank: 99
TRBUX Martin Ratio Rank: 99

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. TRBUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Dorsey Wright Short ETF (DWSH) and T. Rowe Price Ultra Short-Term Bond Fund (TRBUX). 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	TRBUX	Difference
Sharpe ratio: Return per unit of total volatility	-0.35	3.69	-4.04
Sortino ratio: Return per unit of downside risk	-0.34	9.03	-9.37
Omega ratio: Gain probability vs. loss probability	0.96	3.56	-2.61
Calmar ratio: Return relative to maximum drawdown	-0.48	16.38	-16.86
Martin ratio: Return relative to average drawdown	-0.80	61.02	-61.82

DWSH vs. TRBUX - Sharpe Ratio Comparison

The current DWSH Sharpe Ratio is -0.35, which is lower than the TRBUX Sharpe Ratio of 3.69. The chart below compares the historical Sharpe Ratios of DWSH and TRBUX, 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. TRBUX - Drawdown Comparison

The maximum DWSH drawdown since its inception was -82.73%, which is greater than TRBUX's maximum drawdown of -4.15%. Use the drawdown chart below to compare losses from any high point for DWSH and TRBUX.

Drawdown Indicators

	DWSH	TRBUX	Difference
Max Drawdown Largest peak-to-trough decline	-82.73%	-4.15%	-78.58%
Max Drawdown (1Y) Largest decline over 1 year	-15.13%	-0.39%	-14.74%
Max Drawdown (3Y) Largest decline over 3 years	-29.23%	-0.78%	-28.45%
Max Drawdown (5Y) Largest decline over 5 years	-32.87%	-2.68%	-30.19%
Max Drawdown (10Y) Largest decline over 10 years	—	-4.15%	—
Current Drawdown Current decline from peak	-80.92%	-0.20%	-80.72%
Average Drawdown Average peak-to-trough decline	-63.69%	-0.21%	-63.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.99%	0.10%	+9.89%

Volatility

DWSH vs. TRBUX - Volatility Comparison

AdvisorShares Dorsey Wright Short ETF (DWSH) has a higher volatility of 6.64% compared to T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) at 0.58%. This indicates that DWSH's price experiences larger fluctuations and is considered to be riskier than TRBUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DWSH	TRBUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.64%	0.58%	+6.06%
Volatility (6M) Calculated over the trailing 6-month period	14.32%	1.19%	+13.13%
Volatility (1Y) Calculated over the trailing 1-year period	20.93%	1.75%	+19.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.99%	1.69%	+24.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.15%	1.51%	+29.64%

DWSH vs. TRBUX - Expense Ratio Comparison

DWSH has a 3.67% expense ratio, which is higher than TRBUX's 0.31% expense ratio.

Dividends

DWSH vs. TRBUX - Dividend Comparison

DWSH's dividend yield for the trailing twelve months is around 6.15%, more than TRBUX's 6.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DWSH AdvisorShares Dorsey Wright Short ETF	6.15%	6.31%	6.17%	10.28%	0.00%	0.00%	0.00%	0.14%	0.12%	0.00%	0.00%	0.00%
TRBUX T. Rowe Price Ultra Short-Term Bond Fund	6.04%	6.23%	6.36%	4.48%	1.53%	1.21%	1.86%	2.73%	2.47%	1.62%	1.18%	0.81%

Frequently Asked Questions

Can I hold both DWSH and TRBUX in my portfolio?

DWSH and TRBUX 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.

Which is riskier, DWSH or TRBUX?

DWSH has higher volatility (6.64%) compared to TRBUX (0.58%). In terms of maximum drawdown, DWSH dropped -82.73% vs TRBUX's -4.15%.

Which has better risk-adjusted returns?

TRBUX currently has the higher Sharpe Ratio (3.69 vs -0.35), 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.