DWUS vs. DWSH

Last updated Jul 28, 2026

DWUS (AdvisorShares Dorsey Wright FSM US Core ETF) and DWSH (AdvisorShares Dorsey Wright Short ETF) are both exchange-traded funds - DWUS is a Diversified Portfolio fund actively managed by AdvisorShares, while DWSH is a Inverse Equities fund actively managed by AdvisorShares. Both are actively managed. Over the past 5 years, DWUS returned 9.09%/yr vs -3.25%/yr for DWSH. Their -0.45 correlation means they have often moved in opposite directions in the past. DWUS charges 1.17%/yr vs 3.67%/yr for DWSH.

Performance

DWUS vs. DWSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AdvisorShares Dorsey Wright FSM US Core ETF (DWUS) and AdvisorShares Dorsey Wright Short ETF (DWSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DWUS achieves a 5.98% return, which is significantly higher than DWSH's -8.54% return.

DWUS

• 1D: -0.79%
• 1M: -5.65%
• 6M: 3.73%
• YTD: 5.98%
• 1Y: 12.29%
• 3Y*: 14.92%
• 5Y*: 9.09%
• 10Y*: —
• ALL TIME*: 15.25%

DWSH

• 1D: -3.13%
• 1M: -5.99%
• 6M: -3.20%
• YTD: -8.54%
• 1Y: -7.16%
• 3Y*: -2.58%
• 5Y*: -3.25%
• 10Y*: —
• ALL TIME*: -14.12%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DWSH AdvisorShares Dorsey Wright Short ETF	$223.87K	$613.62K	$411.74K
DWUS AdvisorShares Dorsey Wright FSM US Core ETF	$15.57K	$21.17K	$89.22K

DWUS vs. DWSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DWUS AdvisorShares Dorsey Wright FSM US Core ETF	5.98%	12.75%	20.26%	20.62%	-17.89%	20.21%	35.99%	9.39%
DWSH AdvisorShares Dorsey Wright Short ETF	-8.54%	-2.57%	5.98%	-22.04%	17.45%	-25.74%	-49.95%	0.73%

Correlation

The correlation between DWUS and DWSH is -0.14, 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.	-0.14
Correlation (3Y) Balances recent behavior with more history.	-0.32
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.49
Correlation (All Time) Calculated using the full available price history since Dec 27, 2019	-0.45

Over the past year, the inverse relationship between DWUS and DWSH has weakened: their correlation has moved from -0.45 to -0.14, meaning they move in opposite directions less often than they have historically.

DWUS vs. DWSH - Sectors Allocation Comparison

Sectors	DWUS	DWSH
Technology	57.0%	-33.3%
Industrials	9.2%	-9.9%
Communication Services	8.6%	-3.7%
Consumer Cyclical	6.5%	-18.8%
Energy	4.9%	-1.1%
Consumer Defensive	4.8%	-9.0%
Healthcare	3.6%	-10.8%
Financial Services	2.5%	-11.5%
Basic Materials	1.5%	-2.9%
Utilities	0.9%	-1.1%
Real Estate	0.6%	-1.8%

Return for Risk

DWUS vs. DWSH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DWUS

DWUS Risk / Return Rank: 28
DWUS Sharpe Ratio Rank: 26
DWUS Sortino Ratio Rank: 25
DWUS Omega Ratio Rank: 25
DWUS Calmar Ratio Rank: 31
DWUS Martin Ratio Rank: 34

DWSH

DWSH Risk / Return Rank: 7
DWSH Sharpe Ratio Rank: 7
DWSH Sortino Ratio Rank: 7
DWSH Omega Ratio Rank: 7
DWSH Calmar Ratio Rank: 7
DWSH Martin Ratio Rank: 7

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.

DWUS vs. DWSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Dorsey Wright FSM US Core ETF (DWUS) and AdvisorShares Dorsey Wright Short ETF (DWSH). 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.

	DWUS	DWSH	Difference
Sharpe ratio: Return per unit of total volatility	0.62	-0.32	+0.94
Sortino ratio: Return per unit of downside risk	0.96	-0.30	+1.26
Omega ratio: Gain probability vs. loss probability	1.12	0.96	+0.16
Calmar ratio: Return relative to maximum drawdown	1.03	-0.38	+1.41
Martin ratio: Return relative to average drawdown	3.27	-0.81	+4.08

DWUS vs. DWSH - Sharpe Ratio Comparison

The current DWUS Sharpe Ratio is 0.62, which is higher than the DWSH Sharpe Ratio of -0.32. The chart below compares the historical Sharpe Ratios of DWUS and DWSH, 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

DWUS vs. DWSH - Drawdown Comparison

The maximum DWUS drawdown since its inception was -30.47%, smaller than the maximum DWSH drawdown of -83.55%. Use the drawdown chart below to compare losses from any high point for DWUS and DWSH.

Drawdown Indicators

	DWUS	DWSH	Difference
Max Drawdown Largest peak-to-trough decline	-30.47%	-83.55%	+53.08%
Max Drawdown (1Y) Largest decline over 1 year	-11.98%	-18.88%	+6.90%
Max Drawdown (3Y) Largest decline over 3 years	-19.63%	-32.61%	+12.98%
Max Drawdown (5Y) Largest decline over 5 years	-26.45%	-36.09%	+9.64%
Current Drawdown Current decline from peak	-10.14%	-83.00%	+72.86%
Average Drawdown Average peak-to-trough decline	-6.81%	-63.90%	+57.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.77%	8.85%	-5.08%

Volatility

DWUS vs. DWSH - Volatility Comparison

The current volatility for AdvisorShares Dorsey Wright FSM US Core ETF (DWUS) is 8.53%, while AdvisorShares Dorsey Wright Short ETF (DWSH) has a volatility of 11.74%. This indicates that DWUS experiences smaller price fluctuations and is considered to be less risky than DWSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DWUS	DWSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.53%	11.74%	-3.21%
Volatility (6M) Calculated over the trailing 6-month period	17.11%	17.54%	-0.43%
Volatility (1Y) Calculated over the trailing 1-year period	19.88%	22.45%	-2.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.46%	26.49%	-7.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.51%	31.25%	-8.74%

DWUS vs. DWSH - Expense Ratio Comparison

DWUS has a 1.17% expense ratio, which is lower than DWSH's 3.67% expense ratio.

Dividends

DWUS vs. DWSH - Dividend Comparison

DWUS's dividend yield for the trailing twelve months is around 0.03%, less than DWSH's 6.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DWSH AdvisorShares Dorsey Wright Short ETF	6.90%	6.31%	6.17%	10.28%	0.00%	0.00%	0.00%	0.14%	0.12%
DWUS AdvisorShares Dorsey Wright FSM US Core ETF	0.03%	0.03%	0.18%	0.29%	0.89%	0.35%	0.08%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DWUS and DWSH in my portfolio?

DWUS and DWSH have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DWUS or DWSH?

DWSH has higher volatility (11.74%) compared to DWUS (8.53%). In terms of maximum drawdown, DWUS dropped -30.47% vs DWSH's -83.55%.

Which ETF is better, DWUS or DWSH?

On 5-year performance, DWUS leads with 9.09% vs -3.25% for DWSH. On fees, DWUS is cheaper at 1.17% per year. On volatility, DWUS has been the lower-risk option at 8.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DWUS or DWSH?

Over the 5-year period, DWUS has performed better with a 9.09% return vs -3.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DWUS or DWSH?

DWUS is cheaper with a 1.17% expense ratio, compared with 3.67% for DWSH.

Which ETF pays a higher dividend yield, DWUS or DWSH?

DWSH has the higher dividend yield at 6.90%, compared with 0.03% for DWUS.

What is the main difference between DWUS and DWSH?

DWUS is categorized as Diversified Portfolio, while DWSH is Inverse Equities. Their fees differ too: 1.17% for DWUS and 3.67% for DWSH.

Which has better risk-adjusted returns?

DWUS currently has the higher Sharpe Ratio (0.62 vs -0.32), 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.