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DWSH vs VFMO

AdvisorShares Dorsey Wright Short ETF

DWSHFNasdaq

Vanguard U.S. Momentum Factor ETF

VFMOACboe

Overlap

Expense ratio

VFMO −3.40pt a year

DWSH3.53%VFMO0.13%

Avg volume · 30D

DWSH 1.1×the volume

DWSH64.8KVFMO58.8K

5Y return · a year

VFMO +14.9pt

DWSH−5.0%VFMO+9.9%

DWSH vs VFMO Performance

Nov 2, 2021 – Nov 2, 2026

−22.6%DWSH+60.5%VFMO

Nov 2, 2021 to Nov 2, 2026. DWSH −22.6%. VFMO +60.5%. Use the arrow keys to read each point.0%20%40%80%Nov 2021May 2024Nov 2026
Expense ratio
DWSH 3.53%
VFMO 0.13%, better
Fund size
DWSH $6M
VFMO $1.9B
1Y total return
DWSH −19.2%
VFMO +8.8%, better
Yield (12M)
DWSH 7.61%, better
VFMO 0.64%
Holdings
DWSH 2
VFMO 702
Avg volume (30D)
DWSH 64.8K sh, better
VFMO 58.8K sh
NAV per share
DWSH $5.33
VFMO $217.36
52W range

ETF.net Grade

DWSH: Cost 0, Risk 11, Mission not scored, Tradability 38, Holdings not scored, Durability 36. VFMO: Cost 95, Risk 51, Mission 39, Tradability 60, Holdings 89, Durability 93.
Pillar letters and Scores for DWSH, VFMO, with each pillar’s weight
PillarDWSHVFMO
Cost30% weightF0A95Higher
Mission25% weightNot scoredD39
Risk15% weightF11C51Higher
Tradability15% weightD38B60Higher
Holdings10% weightNot scoredA89
Durability5% weightD36A93Higher

Rank among US Active Momentum funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. DWSH and VFMO are both graded against the same 20 US Active Momentum funds, so their Grades compare head to head.

US Active Momentum⁠

Category · 20 funds
See all 20 ›

VFMO ranks 3rd and DWSH 20th of 20 funds in the US Active Momentum Category.

  1. Rank 1AJMOMJPMorgan U.S. Momentum Factor ETFScore 86
  2. Rank 2ASEIMSEI QiM U.S. Large Cap Momentum Active ETFScore 81
  3. Rank 3AVFMOVanguard U.S. Momentum Factor ETFScore 78
  4. Rank 4AQMOMAlpha Architect U.S. Quantitative Momentum ETFScore 73
  5. Rank 19DDWUSAdvisorShares Dorsey Wright FSM U.S. Core ETFScore 26
  6. Rank 20FDWSHAdvisorShares Dorsey Wright Short ETFScore 14

Our read on each fund

ETF.net Research

DWSHFAdvisorShares Dorsey Wright Short ETF

VFMOAVanguard U.S. Momentum Factor ETF

In short

DWSH A 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.

VFMO Vanguard doing active. A quant team buys the strongest recent performers across the entire US market, roughly 600 names deep, at 0.13% a year for a job that usually costs several times more.

Stated mandate

DWSH 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.

VFMO The Fund seeks long-term capital appreciation by investing in U.S. stocks with strong recent performance selected through the advisor’s quantitative process.

Why people hold it

  • DWSH Short-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.
  • Roughly 100 short positions handled inside one brokerage ticket, with no margin account or stock borrow for you to arrange.
  • The fund's own objective frames it as a counterweight to long equity exposure, aiming to gain ground when stocks fall.
  • Trading since 2018, so there is a multi-year live record of how this short book behaves in real markets.
  • VFMO Costs 0.13% a year, sitting with the cheapest systematic momentum funds (JMOM 0.12%, SPMO 0.13%, MTUM 0.15%) and well under the group's typical fee.
  • Hunts winners across the full Russell 3000, small and mid caps included, and spreads the bet over about 600 stocks rather than a short list of mega caps.vanguard.com
  • Actively run through Vanguard's quantitative process: the Russell 3000 is the yardstick, not a rulebook the fund has to copy on index-review day.vanguard.com
  • A multi-billion-dollar fund paying quarterly, and one of the stronger implementations in the US momentum group on cost and portfolio construction.

Worth knowing

  • DWSH Cost is the headline trade-off: a 6.66% expense ratio, against index momentum funds like MTUM at 0.15% and SPMO at 0.13%.
  • A short book is built to move against the market, so rising equity prices work against it by design.
  • Small asset base and only moderate trading activity, so bid-ask spreads can run wider than in the large momentum ETFs.
  • VFMO Momentum by design owns what has already run. When market leadership flips, this style tends to take the turn harder than a plain total-market fund.
  • No index to hide behind. Results ride on Vanguard's model, and the portfolio can look very different from the Russell 3000 in either direction.
  • Trading activity is moderate rather than category-leading, which shows up in spreads on large orders more than small ones.

Full DWSH profile⁠

Full VFMO profile⁠

DWSH vs VFMO Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DWSH vs VFMO Cost

Overpaying DWSH vs VFMO

$45,572

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

  • DWSH 3.53%

    $48,298

  • VFMO 0.13%

    $2,726

$10,000
30 years

Cost over time

  • DWSH 3.53%
  • VFMO 0.13%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K$40K$50K051015202530DWSH $48,298VFMO $2,726

Year by year

YearDWSHVFMOOverpaying
10$5,606$238$5,368
20$18,914$930$17,984
30$48,298$2,726$45,572

Expense ratio

  • 3.53%DWSH
  • 0.13%VFMO, cheaper
  • Middle half of US Active Momentum funds
  • Median 0.64%

VFMO 2nd cheapest of 20 funds

DWSH 20th cheapest of 20 funds

DWSH vs VFMO Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
DWSH 7.61%, better
VFMO 0.64%
Payout (12M)
DWSH $0.41
VFMO $1.36
Last payment
DWSH $0.41
VFMO $0.31
Ex-dividend
DWSH Dec 22, 2025
VFMO Sep 23, 2026
Paid on
DWSH Dec 29, 2025
VFMO Sep 25, 2026
Frequency
DWSH Annual
VFMO Quarterly

Distribution history

Per share, 2018 to 2026, same scale for both

DWSHAnnual · 5 paymentsAll DWSH payments⁠
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.$0$0.50202020232026YTD
VFMOQuarterly · 34 paymentsAll VFMO payments⁠
One bar per payment. 34 payments from 2018 to 2026 YTD. Jun 28, 2018 $0.17; Sep 26, 2018 $0.12; Dec 19, 2018 $0.18; Mar 21, 2019 $0.20; Jun 21, 2019 $0.29; Sep 16, 2019 $0.20; Dec 20, 2019 $0.36; Mar 23, 2020 $0.13; Jun 29, 2020 $0.13; Sep 21, 2020 $0.06; Dec 24, 2020 $0.19; Mar 22, 2021 $0.11; Jun 29, 2021 $0.21; Sep 24, 2021 $0.26; Dec 27, 2021 $0.50; Mar 21, 2022 $0.36; Jun 29, 2022 $0.56; Sep 23, 2022 $0.49; Dec 22, 2022 $0.56; Mar 23, 2023 $0.36; Jun 23, 2023 $0.28; Sep 21, 2023 $0.15; Dec 19, 2023 $0.37; Mar 21, 2024 $0.16; Jun 27, 2024 $0.32; Sep 26, 2024 $0.27; Dec 23, 2024 $0.44; Mar 25, 2025 $0.31; Jun 20, 2025 $0.56; Sep 24, 2025 $0.35; Dec 23, 2025 $0.35; Mar 24, 2026 $0.23; Jun 24, 2026 $0.47; Sep 23, 2026 $0.31. Use the arrow keys to read each point.$0$0.50202020232026YTD

DWSH vs VFMO Risk

Fall from peak · 5 years

  • DWSH
  • VFMO
Nov 2, 2021 to Nov 2, 2026. Worst fall: DWSH −40.1% · Nov 2026. Use the arrow keys to read each point.−40%−30%−20%−10%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
DWSH 20.1%VFMO 19.6%, better
Return per unit of riskSharpe ratio, 3 years
DWSH −0.75VFMO 1.12, better
Worst fallMax drawdown, 5 years
DWSH −40.1%VFMO −25.8%, better
Market sensitivityBeta, 5 years
DWSH −1.07VFMO 1.32

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