Skip to content
etf.net

Launched · SEC filings

AdvisorShares Dorsey Wright FSM All Cap World Equity ETF

DWAWNasdaqAdvisorSharesD

$48.01−0.52 (−1.07%)

At close: Nov 2, 2026, 4:00 PM ET

D26/ 100

Rank 40 of 44 in Global Active Equity

D26/100Rank 40 of 44inGlobal Active Equity
Intraday session: down, 79 prints from 48.53 to 48.01. Range 48.01 to 48.85. Use the arrow keys to read each point.48.2048.4048.8010 AM12 PM2 PM4 PM
Expense ratio
1.19%
Fund size
$88M
1Y total return
+10.5%
Yield · Last 12 months
0.70%
Holdings
6
Avg volume · 30D
1.99K sh
52W range
low $41.33high $51.92
Launched
Filings
SEC EDGAR

The ETF.net DWAW Grade

Based on 5 of 6 pillars

D

Score 26 out of 100

Category
Global Active Equity⁠
Rank
40 of 44
Six-pillar profile for DWAW. Scores out of 100: Cost 1, Risk 28, Mission not scored, Tradability 59, Holdings 33, Durability 71. Strongest: Durability (71). Weakest: Cost (1). Based on 5 of 6 pillars.

Score 26 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F1 out of 100
    Rank 43 of 44

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D28 out of 100
    Rank 33 of 42

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B59 out of 100
    Rank 14 of 44

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D33 out of 100
    Rank 37 of 44

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A71 out of 100
    Rank 10 of 44

Our read on DWAW

ETF.net Research

In short

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

  • One ticket to the whole equity map: US, developed international and emerging markets, across market caps, held through other ETFs rather than single names.
  • Rules 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.
  • Conventional 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.
  • Trading since 2019, so the model has a live public record instead of a backtest.

Worth knowing

  • Cost 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%.
  • A smaller, lightly traded fund, so bid-ask spreads tend to run wider than in the giant global index funds.
  • Momentum buys what is already working, so the mix can sit far from world-index weights and reshuffle when leadership changes.

DWAW Performance

Launched Dec 26, 2019

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

Not enough history yet.
DWAW$11,051
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. DWAW $11,051. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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+9.9%
1 month−2.7%
3 months−2.2%
1 year+10.5%
3 yearsper year+19.4%
5 yearsper year+5.8%
10 yearsFund is under 10 years oldper yearNo data

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+9.9%
2025+10.9%

DWAW in the news

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 Oct 30, 2026.
0.70%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

$10,000 in DWAW 5 years ago paid $418 in dividends.

DWAW Risk

Risk pillarD28 out of 100Rank 33 of 42 in Global Active Equity
How much the fund’s monthly returns vary, scaled to a year.
15.8%
Annualised · 36 months to Oct 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.
0.92
vs 3-month T-bills · to Oct 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.

FMP measures it over up to five years of monthly returns.

DWAW Cost

Compare DWAW and AVTM

Overpaying vs AVTM, cheapest in Global Active Equity

$17,139

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DWAW 1.19%

    $21,697

  • AVTM 0.22% Cheapest

    $4,558

$10,000
30 years

Cost over time

  • DWAW 1.19%
  • AVTM 0.22%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530DWAW $21,697AVTM $4,558

Year by year

YearDWAWAVTMOverpaying
10$2,081$401$1,680
20$7,756$1,561$6,195
30$21,697$4,558$17,139

Other funds in Global Active Equity

See others