AVTM vs DWAW

AVTMAAvantis Total Equity Markets ETF 1

DWAWDAdvisorShares Dorsey Wright FSM All Cap World Equity ETF

In short

AVTM Avantis' one-ticket world stock market: roughly 1,700 holdings, U.S. names owned directly and the overseas sleeves held through sister Avantis funds, all tilted toward cheaper, more profitable companies.

DWAW A 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

AVTM Seeks long-term capital appreciation through a broadly diversified total-market equity allocation, using individual securities and Avantis ETFs while emphasizing securities expected to offer higher returns or better risk characteristics than a passive market-capitalization-weighted index.

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

Why people hold it

• AVTM Costs 0.22% net of a fee waiver (0.23% gross), a notch under stablemate AVGE at 0.23% and below the typical fee in its category.
• Owns U.S. companies directly rather than only stacking funds, then uses Avantis ETFs for developed and emerging markets abroad. One ticket, all market caps.sec.gov
• Benchmarked to 85% Russell 3000 and 15% MSCI ACWI ex-US IMI: a deliberately U.S.-heavy world portfolio, not a global cap-weight split.avantisinvestors.com
• One of the stronger builds in a crowded field of actively managed global equity funds.

• DWAW 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

• AVTM Avantis flags that much of the starting portfolio sits on a low tax basis, so the fund may realize and distribute more capital gains than other ETFs.avantisinvestors.com
• Trades thinly next to the index giants in its category, so spreads and order size matter more here.
• Launched January 2026, so the history is short, and with no index to follow the portfolio reflects Avantis' own valuation and profitability tilts.sec.gov

• DWAW 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.

Full AVTM profile⁠

Full DWAW profile⁠