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DWSH

GradeFNASDAQ

AdvisorShares Dorsey Wright Short ETF

Leveraged · Active Equity · AdvisorShares · Inception 2018-07-10 · SEC filings

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$5.87+0.04 (+0.77%)

As of Sep 23, 2026, 3:08 PM EDT

Intraday session: up, 57 prints from 5.83 to 5.87. Range 5.83 to 5.88. Use the arrow keys to read each point.$5.84$5.86$5.8810 AM12 PM2 PM4 PM
Expense ratio
6.66%
Fund size
$6M
1Y return
−8.8%
Yield · Last 12 months
6.98%
Holdings
102
Volume · 30D
0.1M sh
NAV per share
$5.85
52W range
low $5.34high $7.50

The ETF.net DWSH Grade

F

13/ 100

Rank 21 of 22 in US Active Momentum⁠

Confidence Medium

Six-pillar profile for DWSH. Scores out of 100: Cost 0, Risk 12, Mission not scored, Tradability 34, Holdings not scored, Durability 37. Strongest: Durability (37). Weakest: Cost (0). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 13 of 100 sits in the F 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 0
    Category rank22/22 · 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.
    FScore 12
    Category rank19/21 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 34
    Category rank16/22 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 37
    Category rank18/22 · bottom quartile

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on DWSH

ETF.net Research

FA momentum toolkit pointed the other way. DWSH is an actively managed, short-only ETF that uses Dorsey Wright relative strength to short the weakest large-cap US names, framed by its issuer as a hedge for a long stock book rather than a core holding.

Stated mandate

DWSH uses an actively managed relative-strength process to short securities with the weakest relative strength, primarily among large-cap U.S.-traded equities. It is intended to hedge long equity exposure and pursue positive returns when equity markets decline.

Why people hold it

  1. 01Short-only and actively managed: the same relative-strength ranking momentum funds use to buy leaders, run in reverse to short the weakest large-cap US names.
  2. 02Roughly 100 short positions handled inside one brokerage ticket, with no margin account or stock borrow for you to arrange.
  3. 03The fund's own objective frames it as a counterweight to long equity exposure, aiming to gain ground when stocks fall.
  4. 04Trading since 2018, so there is a multi-year live record of how this short book behaves in real markets.

Worth knowing

  1. 01Cost is the headline trade-off: a 6.66% expense ratio, against index momentum funds like MTUM at 0.15% and SPMO at 0.13%.
  2. 02A short book is built to move against the market, so rising equity prices work against it by design.
  3. 03Small asset base and only moderate trading activity, so bid-ask spreads can run wider than in the large momentum ETFs.

DWSH Holdings

As of Sep 20, 2026, 6:06 AM
Asset class
Other
Holdings
102
Top-10 weight
191%
Largest holding
CASH107.9%

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—CASH107.86%7,006,898$7M414
002—INVESCO GOVT AGENCY INSTL 190182.68%5,371,062$5M1

Showing 1–2 of 2 holdings

DWSH Performance

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

DWSH$9,123
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. DWSH $9,123. SPY $11,723. Use the arrow keys to read each point.$8,125$10,078$12,031Sep 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 DWSH. Periods over one year show the average yearly return.
PeriodDWSH
Year to date−9.5%
1 month+7.7%
3 months−12.7%
1 year−8.8%
3 years−7.4%per year
5 years−3.9%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 DWSH
YearReturn barDWSH
2026 YTD−9.5%
2025−2.6%
2024+6.0%
2023−22.0%
2022+17.5%
2021−25.7%
2020−50.0%

DWSH in the news

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

DWSH 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.
6.98%Last 12 months
Payout per share
$0.41Last 12 months
Last payment
$0.41 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2018–2026

One bar per payment. 5 payments from 2018 to 2026 YTD. Dec 27, 2018 $0.04; Dec 27, 2019 $0.03; Dec 26, 2023 $0.72; Dec 23, 2024 $0.43; Dec 22, 2025 $0.41. Use the arrow keys to read each point.201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 29, 2025$0.41
Dec 23, 2024Dec 30, 2024$0.43
Dec 26, 2023Dec 29, 2023$0.72
Dec 27, 2019Dec 31, 2019$0.03
Dec 27, 2018Dec 31, 2018$0.04

DWSH Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
19.4%
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.
−0.54
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.
−39.9%
Trough Aug 2026
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.
−0.96
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.

DWSH Cost

Expense ratio6.66%
  • The middle half of US Active Momentum funds
  • Median 0.63%

Every other US Active Momentum fund charges less.

DWSH costs $666.00 a year on $10,000. The median US Active Momentum fund costs $63.00.