Skip to content
etf.net

DWAW

GradeDNASDAQ Global Market

AdvisorShares Dorsey Wright FSM All Cap World Equity ETF

Active Equity · AdvisorShares · Inception 2019-12-26 · SEC filings

$49.81−0.02 (−0.04%)

As of Sep 23, 2026, 2:37 PM EDT

Intraday session: down, 17 prints from 49.83 to 49.81. Range 49.78 to 49.85. Use the arrow keys to read each point.$49.78$49.80$49.82$49.8410 AM12 PM2 PM4 PM
Expense ratio
1.23%
Fund size
$91M
1Y return
+13.8%
Yield · Last 12 months
0.68%
Holdings
4
Volume · 30D
0M sh
NAV per share
$49.83
52W range
low $41.33high $51.92

The ETF.net DWAW Grade

D

26/ 100

Rank 41 of 44 in Global Active Equity⁠

Confidence Medium

Six-pillar profile for DWAW. Scores out of 100: Cost 2, Risk 27, Mission not scored, Tradability 57, Holdings 30, Durability 72. Strongest: Durability (72). Weakest: Cost (2). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 26 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 2
    Category rank43/44 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 27
    Category rank33/42 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 57
    Category rank21/44 · top 48%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 30
    Category rank41/43 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 72
    Category rank10/44 · top 23%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on DWAW

ETF.net Research

DA momentum machine in ETF clothing. DWAW rents whole markets instead of picking stocks, letting Dorsey Wright relative-strength rankings steer money across US, developed and emerging equity, with MSCI ACWI as the stated yardstick.

Stated mandate

The fund invests through ETFs holding domestic and foreign equity securities across market capitalizations, including emerging markets.

Why people hold it

  1. 01One ticket to the whole equity map: US, developed international and emerging markets, across market caps, held through other ETFs rather than single names.
  2. 02Rules drive the rotation. The FSM All Cap World Core Model ranks by relative strength, so shifts follow momentum signals rather than a manager's mood.
  3. 03Conventional 1940 Act ETF wrapper with a named benchmark, the MSCI All Country World Index (Net): 1099 tax reporting, no K-1, and a clear scorecard.
  4. 04Trading since 2019, so the model has a live public record instead of a backtest.

Worth knowing

  1. 01Cost is the headline trade-off: 1.23% a year, while global peers such as GSWO, DFAW and AVGE run between 0.15% and 0.25%.
  2. 02A smaller, lightly traded fund, so bid-ask spreads tend to run wider than in the giant global index funds.
  3. 03Momentum buys what is already working, so the mix can sit far from world-index weights and reshuffle when leadership changes.

DWAW Holdings

As of Sep 20, 2026, 6:06 AM
Asset class
Stocks
Holdings
4
Top-10 weight
121%
Largest holding
SHV99.5%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001SHVISHARES 0-1 YEAR TREASURY BO99.53%819,000$90M5
002—BLACKROCK TREASURY TRUST INSTL 6220.99%19,036,076$19M9

Showing 1–2 of 2 holdings

DWAW Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

DWAW$11,383
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. DWAW $11,383. SPY $11,723. Use the arrow keys to read each point.$9,278$10,665$12,052Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for DWAW. Periods over one year show the average yearly return.
PeriodDWAW
Year to date+12.8%
1 month−2.7%
3 months−4.0%
1 year+13.8%
3 years+19.1%per year
5 years+7.4%per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DWAW
YearReturn barDWAW
2026 YTD+12.8%
2025+10.9%
2024+18.5%
2023+11.2%
2022−17.8%
2021+3.5%
2020+48.9%

DWAW in the news

ETF.net Research hasn’t filed on DWAW yet — coverage lands here as it’s written.

DWAW Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
0.68%Last 12 months
Payout per share
$0.34Last 12 months
Last payment
$0.34 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution history

2020–2026

One bar per payment. 5 payments from 2020 to 2026 YTD. Dec 24, 2020 $0.06; Dec 23, 2021 $0.55; Dec 23, 2022 $0.16; Dec 26, 2023 $0.58; Dec 22, 2025 $0.34. Use the arrow keys to read each point.2020202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 29, 2025$0.34
Dec 26, 2023Dec 29, 2023$0.58
Dec 23, 2022Dec 30, 2022$0.16
Dec 23, 2021Dec 31, 2021$0.55
Dec 24, 2020Dec 31, 2020$0.06

DWAW Risk

How much the fund’s monthly returns vary, scaled to a year.
16.2%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.81
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−28.4%
Trough Sep 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.07
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

DWAW Cost

Expense ratio1.23%
  • The middle half of Global Active Equity funds
  • Median 0.69%

42 of the 44 Global Active Equity funds charge less.

DWAW costs $123.00 a year on $10,000. The median Global Active Equity fund costs $69.00.