DWSH - AdvisorShares Dorsey Wright Short ETF

Insure Your Portfolio

Delivering protection to an investment portfolio during unexpected market downturns.

Symbol Exchange Inception Date CUSIP NAV Value Leverage Exposure
DWSH Nasdaq 7/10/2018 00768Y529 DWSH.NV No
<strong>About The ETF</strong>

While people often insure their most valuable possessions – cars, homes, jewelry, health, life – from loss or damage, they often overlook sheltering their investment portfolio from the harm of volatile markets. Using a short hedging strategy with a long equity portfolio may help to shield your financial investments from unexpected market downturns.

The AdvisorShares Dorsey Wright Short ETF (DWSH) uses an actively managed, relative strength investment strategy to sell short those securities demonstrating the lowest relative strength (aka highest relative weakness) within an investment universe comprised primarily of large-capitalization U.S.-traded equities. DWSH may be used to hedge long equity exposure and seek positive returns in declining equity markets. It is not an inverse fund.

<strong>What Is Relative Strength?</strong>

Relative strength is a way of recording historic performance patterns to identify momentum signals for current and future performance trends of a security versus an investment universe or benchmark. It is the comparison of price performance within a universe of securities to identify those that have appreciated more. Numerous studies by both academics and investment professionals have demonstrated that securities showing the greatest gains relative to their market often continue to outperform. Analyzing securities by their relative strength provides a way to identify the current market leaders – the securities leading the market and the ones you want to own. It also identifies those with the weakest relative strength – the laggards underperforming that you want to avoid or sell short. Nasdaq Dorsey Wright is recognized as a leader in relative strength analysis.

<strong>Why Invest in DWSH?</strong>
  • Hedging Tool – DWSH can be implemented as part of a long/short strategy, providing investors with a “buy and hold” alternative to hedge their long domestically-traded equity exposure against market downturns.
  • Alpha-Seeking Exposure – DWSH’s systematic and selective approach offers the potential to add alpha to an investment portfolio, especially during market corrections. Also, during severe market downturns and at certain technical levels, the strategy can seek to enhance its total return by allocating short exposure more broadly to the domestic equity market and shorting individual ETFs or futures contracts.
  • Different from Inverse Funds – Spreading your investment risk among equities not correlated to the broader market may help diversify and mitigate your overall portfolio risk. DWSH differs considerably from inverse fund investment strategies which are often subject to daily resets and indiscriminately sell short the top companies within a market-cap weighted index.
  • Strategy Diversification – DWSH’s systematic investment process seeks to limit unnecessary risk while maximizing relative weakness exposure. If a security becomes too large as a percentage of the portfolio, it is trimmed to bring it back in line with the other securities weights. The process also implements pre-determined stop prices for each position.
<strong>Where Can DWSH Fit in a Traditional Portfolio?</strong>
DWSH may be used to hedge long equity exposure and seek positive returns in declining equity markets.
<strong>Key Attributes</strong>
  • Dedicated Short Portfolio of Weakest Companies – DWSH typically has a modified equal weight portfolio of 75 – 100 U.S.-traded large cap equities that demonstrate the highest relative weakness according to Nasdaq Dorsey Wright’s proprietary relative strength model.
  • Systematic Approach –DWSH’s investment process is entirely systematic and designed to remove human emotion from the decision process. It allows for the ongoing analysis of a large universe of securities through diverse and changing markets.
  • Relative Strength/Weakness Analysis – DWSH uses relative strength investing, a repeatable process which compares price performance within a universe of stocks. Analyzing securities by their relative strength not only identifies the current market leaders, but also those with the weakest relative strength – the laggards underperforming the market that DWSH wants to sell short.
  • Disciplined Sell Process – Securities are automatically sold from the portfolio when they reach a predetermined sell price. This sell price is identified when the security is purchased and not adjusted for different market scenarios. The sell process is an entirely technical, systematic approach and takes the emotion out of the sell decision.
<strong>About the Portfolio Strategist</strong>

John G. Lewis, CMT | Nasdaq Dorsey Wright, Senior Portfolio Manager

Since joining Nasdaq Dorsey Wright in 2002, Mr. Lewis has developed relative strength and momentum strategies for the firm’s separately managed accounts, global asset allocation strategies, ETFs, and UITs. As one of the foremost experts on relative strength investing, Mr. Lewis has authored several original research papers on the subject. He is a Chartered Market Technician (CMT) and a member of the Market Technician’s Association and the American Association of Professional Technical Analysts. Mr. Lewis earned an M.B.A. in Finance from the University of Southern California and a B.A. from the University of San Diego. He began his career in the investment industry in 1994.

DWSH Overview 

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DWSH Overview

  Get a quick and easy introduction to the DWSH ETF.

Fund

Price History

Fund Data

7/12/2024
NAV $7.24
Change $-0.06
Shares Outstanding 1,445,000
Assets Under Management $10,464,880.24

 

 

 

 

Market Data

7/12/2024
Closing Price $7.24
Close Change $-0.06
Volume 14,788

Regulatory Data

7/12/2024
Premium Discount $-0.02
30-Day Median bid-ask Spread 0.005298
Premium/Discount Historical Data | NAV Historical Data | Daily Premium/Discount Historical Data
Shares are bought and sold at market price (closing price) not NAV and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined), and do not represent the return you would receive if you traded at other times.

FUND

Characteristics

As of 6/30/2024

DWSH Performance During Market Drawdowns

DWSH Sector Allocation

Source: Morningstar & AdvisorShares

DWSH Market Cap

FUND

Performance

As of 6/30/2024

  NAV Market Price Return S&P 500 Index
1 Month 2.84 2.60 3.59
3 Months 7.34 7.00 4.28
YTD 6.77 6.39 15.29
1 Year -5.70 -5.60 24.56
3 Years -1.21 -1.18 10.01
Since Inception (7/10/2018, Annualized) -16.86 -16.89 13.80

As of 6/30/2024

  NAV Market Price Return S&P 500 Index
1 Month 2.84 2.6 3.59
3 Months 7.34 7 4.28
YTD 6.77 6.39 15.29
1 Year -5.7 -5.6 24.56
3 Years -1.21 -1.18 10.01
Since Inception (7/10/2018, Annualized) -16.86 -16.89 13.8

Performance data quoted represents past performance and is no guarantee of future results. All Fund data and performance data quoted is believed to be accurate, and unless otherwise stated, is sourced from the Fund administrator, the Advisor’s or Sub-Advisor’s proprietary data, and Morningstar. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized.

Fund

Holdings

As of

Excel    CSV

Date Account Symbol Stock Ticker Security ID Security Description Shares Share Price Market Value Portfolio Weight Asset Group
07/12/2024 DWSH TSLA 88160R101 TESLA INC -652 248.23 -161,845.96 -1.55% S
MPW 58463J304 MEDICAL PROPERTIES TRUST INC -29,928 4.52 -135,274.56 -1.29% S
ICUI 44930G107 ICU MEDICAL INC -1,067 125.98 -134,420.66 -1.28% S
DXC 23355L106 DXC TECHNOLOGY CO -6,818 19.61 -133,700.98 -1.28% S
HLF G4412G101 HERBALIFE LTD -12,099 10.79 -130,548.21 -1.25% FS
WHR 963320106 WHIRLPOOL CORP -1,183 109.85 -129,952.55 -1.24% S
Z 98954M200 ZILLOW GROUP INC - C -2,580 50.28 -129,722.40 -1.24% S
ADM 039483102 ARCHER-DANIELS-MIDLAND CO -1,946 64.28 -125,088.88 -1.19% S
INTC 458140100 INTEL CORP -3,525 34.49 -121,577.25 -1.16% S
VYX 62886E108 NCR VOYIX CORP -8,345 14.25 -118,916.25 -1.14% S
NYCB 649445400 NEW YORK COMMUNITY BANCORP -10,703 11.01 -117,840.03 -1.13% S
BA 097023105 BOEING CO/THE -644 182.31 -117,407.64 -1.12% S
ON 682189105 ON SEMICONDUCTOR -1,525 76.87 -117,226.75 -1.12% S
ODFL 679580100 OLD DOMINION FREIGHT LINE -610 190.22 -116,034.20 -1.11% S
EXAS 30063P105 EXACT SCIENCES CORP -2,489 46.36 -115,390.04 -1.10% S
GILD 375558103 GILEAD SCIENCES INC -1,645 69.96 -115,084.20 -1.10% S
ILMN 452327109 ILLUMINA INC -983 116.09 -114,116.47 -1.09% S
CHTR 16119P108 CHARTER COMMUNICATIONS INC-A -363 311.04 -112,907.52 -1.08% S
FL 344849104 FOOT LOCKER INC -4,563 24.72 -112,797.36 -1.08% S
VRSN 92343E102 VERISIGN INC -633 177.76 -112,522.08 -1.07% S
HHH 44267T102 HOWARD HUGHES HOLDINGS INC -1,571 71.61 -112,499.31 -1.07% S
PFE 717081103 PFIZER INC -3,856 28.92 -111,515.52 -1.07% S
NWL 651229106 NEWELL BRANDS INC -17,890 6.22 -111,275.80 -1.06% S
TFX 879369106 TELEFLEX INC -504 220.47 -111,116.88 -1.06% S
AKAM 00971T101 AKAMAI TECHNOLOGIES INC -1,162 95.14 -110,552.68 -1.06% S
ULTA 90384S303 ULTA BEAUTY INC -267 412.94 -110,254.98 -1.05% S
EPAM 29414B104 EPAM SYSTEMS INC -569 193.50 -110,101.50 -1.05% S
LUV 844741108 SOUTHWEST AIRLINES CO -3,985 27.53 -109,707.05 -1.05% S
JBHT 445658107 HUNT (JB) TRANSPRT SVCS INC -660 166.16 -109,665.60 -1.05% S
KNX 499049104 KNIGHT-SWIFT TRANSPORTATION -2,197 49.88 -109,586.36 -1.05% S
HUM 444859102 HUMANA INC -286 382.22 -109,314.92 -1.04% S
PODD 45784P101 INSULET CORP -540 201.98 -109,069.20 -1.04% S
LKQ 501889208 LKQ CORP -2,490 43.80 -109,062.00 -1.04% S
WPC 92936U109 WP CAREY INC -1,862 58.33 -108,610.46 -1.04% S
PAYC 70432V102 PAYCOM SOFTWARE INC -727 148.43 -107,908.61 -1.03% S
CCI 22822V101 CROWN CASTLE INC -1,042 103.55 -107,899.10 -1.03% S
BIIB 09062X103 BIOGEN INC -469 230.06 -107,898.14 -1.03% S
ENOV 194014502 ENOVIS CORP -2,340 46.03 -107,710.20 -1.03% S
VAC 57164Y107 MARRIOTT VACATIONS WORLD -1,234 87.03 -107,395.02 -1.03% S
AEE 023608102 AMEREN CORPORATION -1,451 73.88 -107,199.88 -1.02% S
GPN 37940X102 GLOBAL PAYMENTS INC -1,100 97.45 -107,195.00 -1.02% S
LVS 517834107 LAS VEGAS SANDS CORP -2,500 42.73 -106,825.00 -1.02% S
GL 37959E102 GLOBE LIFE INC -1,240 86.04 -106,689.60 -1.02% S
TAP 60871R209 MOLSON COORS BEVERAGE CO - B -2,080 51.24 -106,579.20 -1.02% S
BAX 071813109 BAXTER INTERNATIONAL INC -3,014 35.32 -106,454.48 -1.02% S
HAIN 405217100 HAIN CELESTIAL GROUP INC -14,928 7.13 -106,436.64 -1.02% S
WBA 931427108 WALGREENS BOOTS ALLIANCE INC -9,209 11.50 -105,903.50 -1.01% S
ADNT G0084W101 ADIENT PLC -4,368 24.07 -105,137.76 -1.00% FS
MKTX 57060D108 MARKETAXESS HOLDINGS INC -492 212.85 -104,722.20 -1.00% S
IART 457985208 INTEGRA LIFESCIENCES HOLDING -3,488 30.01 -104,674.88 -1.00% S
XRX 98421M106 XEROX HOLDINGS CORP -9,780 10.69 -104,548.20 -1.00% S
CVS 126650100 CVS HEALTH CORP -1,770 59.00 -104,430.00 -1.00% S
BEN 354613101 FRANKLIN RESOURCES INC -4,499 23.20 -104,376.80 -1.00% S
RHI 770323103 ROBERT HALF INC -1,640 63.62 -104,336.80 -1.00% S
IPGP 44980X109 IPG PHOTONICS CORP -1,164 89.63 -104,329.32 -1.00% S
XEL 98389B100 XCEL ENERGY INC -1,920 54.28 -104,217.60 -1.00% S
PTEN 703481101 PATTERSON-UTI ENERGY INC -10,085 10.25 -103,371.25 -0.99% S
MTN 91879Q109 VAIL RESORTS INC -574 179.84 -103,228.16 -0.99% S
APA 03743Q108 APA CORP -3,439 29.97 -103,066.83 -0.98% S
MOS 61945C103 MOSAIC CO/THE -3,622 28.39 -102,828.58 -0.98% S
VLY 919794107 VALLEY NATIONAL BANCORP -13,930 7.36 -102,524.80 -0.98% S
SBAC 78410G104 SBA COMMUNICATIONS CORP -481 212.83 -102,371.23 -0.98% S
VSAT 92552V100 VIASAT INC -6,386 15.98 -102,048.28 -0.97% S
UGI 902681105 UGI CORP -4,337 23.42 -101,572.54 -0.97% S
WBD 934423104 WARNER BROS DISCOVERY INC -13,597 7.40 -100,617.80 -0.96% S
SBUX 855244109 STARBUCKS CORP -1,335 74.83 -99,898.05 -0.95% S
BIO 090572207 BIO-RAD LABORATORIES-A -327 304.15 -99,457.05 -0.95% S
VC 92839U206 VISTEON CORP -895 110.24 -98,664.80 -0.94% S
DLTR 256746108 DOLLAR TREE INC -913 107.36 -98,019.68 -0.94% S
UPS 911312106 UNITED PARCEL SERVICE-CL B -685 142.35 -97,509.75 -0.93% S
SVC 81761L102 SERVICE PROPERTIES TRUST -17,949 5.41 -97,104.09 -0.93% S
LEG 524660107 LEGGETT & PLATT INC -7,842 12.32 -96,613.44 -0.92% S
UHAL 023586100 U-HAUL HOLDING CO -1,494 64.58 -96,482.52 -0.92% S
LW 513272104 LAMB WESTON HOLDINGS INC -1,217 78.95 -96,082.15 -0.92% S
FMC 302491303 FMC CORP -1,666 57.41 -95,645.06 -0.91% S
TDC 88076W103 TERADATA CORP -2,800 34.12 -95,536.00 -0.91% S
XRAY 24906P109 DENTSPLY SIRONA INC -3,740 25.53 -95,482.20 -0.91% S
OI 67098H104 O-I GLASS INC -8,346 11.36 -94,810.56 -0.91% S
WEN 95058W100 WENDY'S CO/THE -5,634 16.70 -94,087.80 -0.90% S
SJM 832696405 JM SMUCKER CO/THE -826 113.16 -93,470.16 -0.89% S
ZD 48123V102 ZIFF DAVIS INC -1,932 48.19 -93,103.08 -0.89% S
CBRL 22410J106 CRACKER BARREL OLD COUNTRY -2,206 42.14 -92,960.84 -0.89% S
CABO 12685J105 CABLE ONE INC -271 339.07 -91,887.97 -0.88% S
TECH 09073M104 BIO-TECHNE CORP -1,171 77.31 -90,530.01 -0.86% S
PII 731068102 POLARIS INC -1,110 81.53 -90,498.30 -0.86% S
ATUS 02156K103 ALTICE USA INC- A -44,067 2.04 -89,896.68 -0.86% S
AAP 00751Y106 ADVANCE AUTO PARTS INC -1,420 62.92 -89,346.40 -0.85% S
HPP 444097109 HUDSON PACIFIC PROPERTIES IN -16,381 5.42 -88,785.02 -0.85% S
JAZZ G50871105 JAZZ PHARMACEUTICALS PLC -836 105.59 -88,273.24 -0.84% FS
BMY 110122108 BRISTOL-MYERS SQUIBB CO -2,153 40.46 -87,110.38 -0.83% S
VFC 918204108 VF CORP -6,334 13.75 -87,092.50 -0.83% S
G G3922B107 GENPACT LTD -2,672 32.45 -86,706.40 -0.83% FS
DG 256677105 DOLLAR GENERAL CORP -637 132.42 -84,351.54 -0.81% S
MD 58502B106 PEDIATRIX MEDICAL GROUP INC -11,318 7.40 -83,753.20 -0.80% S
EL 518439104 ESTEE LAUDER COMPANIES-CL A -808 103.36 -83,514.88 -0.80% S
NUS 67018T105 NU SKIN ENTERPRISES INC - A -7,993 10.40 -83,127.20 -0.79% S
BF/B 115637209 BROWN-FORMAN CORP-CLASS B -1,866 44.17 -82,421.22 -0.79% S
SAGE 78667J108 SAGE THERAPEUTICS INC -6,964 11.76 -81,896.64 -0.78% S
NKE 654106103 NIKE INC -CL B -1,111 73.42 -81,569.62 -0.78% S
ALB 012653101 ALBEMARLE CORP -822 97.87 -80,449.14 -0.77% S
GRAL 384747101 GRAIL INC -191 14.81 -2,828.71 -0.03% S
CASH -4,706,531.54 100.00 -4,706,531.54 -44.96% CA
X9USDISLQ INVESCO GOVT AGENCY INSTL 1901 25,632,874.21 1.00 25,632,874.21 244.86% MM
Holdings and allocations are subject to risks and to change. A holding identified with an “MM” at the end of its name indicates it is a Money Market fund.

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FUND

Fees & Expenses

Management Fee 0.75%
Acquired Fund Fees and Expenses (a) 0.23%
Total Annual Operating Expenses 2.79%
Fee/Expense Recapture(b) 0.05%
Total Annual Operating Expenses After Recapture 2.84%

(a) Total Annual Operating Expenses and Total Annual Operating Expenses After Waiver/Reimbursement in this fee table may not correlate to the expense ratios in the Fund’s financial highlights. For more information, please read the full prospectus.

(b) The Advisor has contractually agreed to keep net expenses from exceeding 1.25% of the Fund’s average daily net assets for at least one year from the date of the prospectus. For more information, please read the full prospectus.

Last Ten

Fund Distributions

        • Definitions:

          Alpha: One of the most commonly quoted indicators of investment performance, alpha, is defined as the excess return on an investment relative to the return on a benchmark index. 

          Short: A short, or a short position, is created when a trader sells a security first with the intention of repurchasing it or covering it later at a lower price.

          Before investing you should carefully consider the Fund’s investment objectives, risks, charges, and expenses. This and other information is in the prospectus or summary prospectus, a copy of which may be obtained by visiting the Fund’s website at www.AdvisorShares.com. Please read the prospectus carefully before you invest. Foreside Fund Services, LLC, Distributor.

          The Fund is subject to a number of risks that may affect the value of its shares, including the possible loss of principal. Short sales are transactions in which the Fund sells a security it does not own. To complete the transaction, the Fund must borrow the security to make delivery to the buyer. The Fund is then obligated to replace the security borrowed by purchasing the security at the market price at the time of replacement. If the underlying security goes down in price between the time the Fund sells the security and buys it back, the Fund will realize a gain on the transaction. Conversely, if the underlying security goes up in price during the period, the Fund will realize a loss on the transaction. Any such loss is increased by the amount of premium or interest the Fund must pay to the lender of the security. Likewise, any gain will be decreased by the amount of premium or interest the Fund must pay to the lender of the security. Because a short position loses value as the security’s price increases, the loss on a short sale is theoretically unlimited. Short sales involve leverage because the Fund borrows securities and then sells them, effectively leveraging its assets. The use of leverage may magnify gains or losses for the Fund. As with any fund, there is no guarantee that the Fund will achieve its investment objective.