MSOX vs. DWSH

Last updated Aug 2, 2026

MSOX (Advisorshares Msos 2x Daily ETF) and DWSH (AdvisorShares Dorsey Wright Short ETF) are both exchange-traded funds - MSOX is a Leveraged Equities fund actively managed by AdvisorShares, while DWSH is a Inverse Equities fund actively managed by AdvisorShares. Both are actively managed. Over the past 3 years, MSOX returned -66.81%/yr vs -3.09%/yr for DWSH. Their -0.25 correlation means they have often moved in opposite directions in the past. MSOX charges 0.95%/yr vs 3.67%/yr for DWSH.

Performance

MSOX vs. DWSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Advisorshares Msos 2x Daily ETF (MSOX) 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, MSOX achieves a -49.55% return, which is significantly lower than DWSH's -9.98% return.

MSOX

• 1D: 0.44%
• 1M: -27.56%
• 6M: -30.25%
• YTD: -49.55%
• 1Y: -44.33%
• 3Y*: -66.81%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -74.69%

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%

*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	$237.00K	$562.23K	$413.74K
MSOX Advisorshares Msos 2x Daily ETF	$3.60M	$4.46M	$7.39M

MSOX vs. DWSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MSOX Advisorshares Msos 2x Daily ETF	-49.55%	-51.20%	-87.32%	-39.26%	-76.29%
DWSH AdvisorShares Dorsey Wright Short ETF	-9.98%	-2.57%	5.98%	-22.04%	7.39%

Correlation

The correlation between MSOX and DWSH is -0.20, 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.	-0.20
Correlation (3Y) Balances recent behavior with more history.	-0.22
Correlation (All Time) Calculated using the full available price history since Aug 24, 2022	-0.25

MSOX vs. DWSH - Sectors Allocation Comparison

Sectors	MSOX	DWSH
Financial Services	184.5%	-10.4%
Basic Materials	-	-3.1%
Communication Services	-	-4.7%
Consumer Cyclical	-	-16.4%
Consumer Defensive	-	-8.9%
Energy	-	-1.1%
Healthcare	-	-11.7%
Industrials	-	-11.4%
Real Estate	-	-1.8%
Technology	-	-32.7%
Utilities	-	-1.1%

Return for Risk

MSOX vs. DWSH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MSOX

MSOX Risk / Return Rank: 18
MSOX Sharpe Ratio Rank: 8
MSOX Sortino Ratio Rank: 38
MSOX Omega Ratio Rank: 33
MSOX Calmar Ratio Rank: 6
MSOX Martin Ratio Rank: 7

DWSH

DWSH Risk / Return Rank: 3
DWSH Sharpe Ratio Rank: 4
DWSH Sortino Ratio Rank: 4
DWSH Omega Ratio Rank: 4
DWSH Calmar Ratio Rank: 4
DWSH Martin Ratio Rank: 0

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MSOX vs. DWSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Advisorshares Msos 2x Daily ETF (MSOX) 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.

	MSOX	DWSH	Difference
Sharpe ratio: Return per unit of total volatility	-0.16	-0.60	+0.44
Sortino ratio: Return per unit of downside risk	1.40	-0.72	+2.11
Omega ratio: Gain probability vs. loss probability	1.16	0.91	+0.25
Calmar ratio: Return relative to maximum drawdown	-0.41	-0.68	+0.27
Martin ratio: Return relative to average drawdown	-0.56	-1.49	+0.93

MSOX vs. DWSH - Sharpe Ratio Comparison

The current MSOX Sharpe Ratio is -0.16, which is higher than the DWSH Sharpe Ratio of -0.60. The chart below compares the historical Sharpe Ratios of MSOX 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

MSOX vs. DWSH - Drawdown Comparison

The maximum MSOX drawdown since its inception was -99.75%, which is greater than DWSH's maximum drawdown of -83.80%. Use the drawdown chart below to compare losses from any high point for MSOX and DWSH.

Drawdown Indicators

	MSOX	DWSH	Difference
Max Drawdown Largest peak-to-trough decline	-99.75%	-83.80%	-15.95%
Max Drawdown (1Y) Largest decline over 1 year	-84.89%	-20.08%	-64.81%
Max Drawdown (3Y) Largest decline over 3 years	-98.83%	-33.61%	-65.22%
Max Drawdown (5Y) Largest decline over 5 years	—	-37.03%	—
Current Drawdown Current decline from peak	-99.67%	-83.27%	-16.40%
Average Drawdown Average peak-to-trough decline	-89.19%	-63.94%	-25.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	62.34%	9.16%	+53.18%

Volatility

MSOX vs. DWSH - Volatility Comparison

Advisorshares Msos 2x Daily ETF (MSOX) has a higher volatility of 25.51% compared to AdvisorShares Dorsey Wright Short ETF (DWSH) at 12.07%. This indicates that MSOX's price experiences larger fluctuations and is considered to be riskier than DWSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSOX	DWSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.51%	12.07%	+13.44%
Volatility (6M) Calculated over the trailing 6-month period	110.30%	18.06%	+92.24%
Volatility (1Y) Calculated over the trailing 1-year period	217.82%	22.80%	+195.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	166.50%	26.56%	+139.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	166.50%	31.27%	+135.23%

MSOX vs. DWSH - Expense Ratio Comparison

MSOX has a 0.95% expense ratio, which is lower than DWSH's 3.67% expense ratio.

Dividends

MSOX vs. DWSH - Dividend Comparison

MSOX has not paid dividends to shareholders, while DWSH's dividend yield for the trailing twelve months is around 7.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DWSH AdvisorShares Dorsey Wright Short ETF	7.01%	6.31%	6.17%	10.28%	0.00%	0.00%	0.00%	0.14%	0.12%
MSOX Advisorshares Msos 2x Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSOX and DWSH in my portfolio?

MSOX and DWSH have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSOX or DWSH?

MSOX has higher volatility (25.51%) compared to DWSH (12.07%). In terms of maximum drawdown, MSOX dropped -99.75% vs DWSH's -83.80%.

Which ETF is better, MSOX or DWSH?

On 3-year performance, DWSH leads with -3.09% vs -66.81% for MSOX. On fees, MSOX is cheaper at 0.95% per year. On volatility, DWSH has been the lower-risk option at 12.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSOX or DWSH?

Over the 3-year period, DWSH has performed better with a -3.09% return vs -66.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSOX or DWSH?

MSOX is cheaper with a 0.95% expense ratio, compared with 3.67% for DWSH.

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

DWSH has the higher dividend yield at 7.01%, compared with 0.00% for MSOX.

What is the main difference between MSOX and DWSH?

MSOX is categorized as Leveraged Equities, while DWSH is Inverse Equities. Their fees differ too: 0.95% for MSOX and 3.67% for DWSH.

Which has better risk-adjusted returns?

MSOX currently has the higher Sharpe Ratio (-0.16 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.