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

6/13/2024
NAV $7.46
Change $0.06
Shares Outstanding 1,585,000
Assets Under Management $11,824,786.33

 

 

 

 

Market Data

6/13/2024
Closing Price $7.48
Close Change $0.07
Volume 7,411

Regulatory Data

6/13/2024
Premium Discount $0
30-Day Median bid-ask Spread 0.004246
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 5/31/2024

DWSH Performance During Market Drawdowns

DWSH Sector Allocation

Source: Morningstar & AdvisorShares

DWSH Market Cap

FUND

Performance

As of 5/31/2024

  NAV Market Price Return S&P 500 Index
1 Month -2.33 -2.41 4.96
3 Months 0.47 0.69 3.91
YTD 3.83 3.69 11.30
1 Year -16.54 -16.49 28.19
3 Years -2.84 -2.89 9.57
Since Inception (7/10/2018, Annualized) -17.46 -17.46 13.32

As of 3/31/2024

  NAV Market Price Return S&P 500 Index
1 Month -3.74 -3.45 3.22
3 Months -0.53 -0.57 10.56
YTD -0.53 -0.57 10.56
1 Year -14.73 -14.6 29.88
3 Years -6.01 -5.88 11.49
Since Inception (7/10/2018, Annualized) -18.54 -18.53 13.6

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
06/13/2024 DWSH MPW 58463J304 MEDICAL PROPERTIES TRUST INC -34,496 4.83 -166,615.68 -1.41% S
HLF G4412G101 HERBALIFE LTD -13,985 11.22 -156,911.70 -1.33% FS
DXC 23355L106 DXC TECHNOLOGY CO -7,980 18.71 -149,305.80 -1.26% S
ICUI 44930G107 ICU MEDICAL INC -1,307 113.50 -148,344.50 -1.25% S
Z 98954M200 ZILLOW GROUP INC - C -2,960 48.50 -143,560.00 -1.21% S
CHRW 12541W209 C.H. ROBINSON WORLDWIDE INC -1,635 84.52 -138,190.20 -1.17% S
FL 344849104 FOOT LOCKER INC -5,370 25.07 -134,625.90 -1.14% S
ADM 039483102 ARCHER-DANIELS-MIDLAND CO -2,181 60.73 -132,452.13 -1.12% S
CLB 21867A105 CORE LABORATORIES INC -7,160 18.20 -130,312.00 -1.10% S
BA 097023105 BOEING CO/THE -720 180.70 -130,104.00 -1.10% S
WHR 963320106 WHIRLPOOL CORP -1,400 92.81 -129,934.00 -1.10% S
ON 682189105 ON SEMICONDUCTOR -1,725 75.04 -129,444.00 -1.09% S
VAC 57164Y107 MARRIOTT VACATIONS WORLD -1,464 88.06 -128,919.84 -1.09% S
ALNY 02043Q107 ALNYLAM PHARMACEUTICALS INC -803 160.05 -128,520.15 -1.09% S
VRSN 92343E102 VERISIGN INC -715 179.70 -128,485.50 -1.09% S
VYX 62886E108 NCR VOYIX CORP -9,800 12.86 -126,028.00 -1.07% S
TSLA 88160R101 TESLA INC -687 182.47 -125,356.89 -1.06% S
HAIN 405217100 HAIN CELESTIAL GROUP INC -17,796 7.01 -124,749.96 -1.06% S
PODD 45784P101 INSULET CORP -618 201.84 -124,737.12 -1.06% S
CBRL 22410J106 CRACKER BARREL OLD COUNTRY -2,641 47.23 -124,734.43 -1.06% S
BIIB 09062X103 BIOGEN INC -529 233.84 -123,701.36 -1.05% S
TFX 879369106 TELEFLEX INC -590 209.30 -123,487.00 -1.04% S
LUV 844741108 SOUTHWEST AIRLINES CO -4,340 28.41 -123,299.40 -1.04% S
ODFL 679580100 OLD DOMINION FREIGHT LINE -710 172.91 -122,766.10 -1.04% S
ZD 48123V102 ZIFF DAVIS INC -2,202 55.66 -122,563.32 -1.04% S
NYCB 649445103 NEW YORK COMMUNITY BANCORP -38,930 3.14 -122,240.20 -1.03% S
WPC 92936U109 WP CAREY INC -2,180 55.97 -122,014.60 -1.03% S
HHH 44267T102 HOWARD HUGHES HOLDINGS INC -1,790 67.90 -121,541.00 -1.03% S
NUS 67018T105 NU SKIN ENTERPRISES INC - A -9,376 12.94 -121,325.44 -1.03% S
KNX 499049104 KNIGHT-SWIFT TRANSPORTATION -2,530 47.74 -120,782.20 -1.02% S
XEL 98389B100 XCEL ENERGY INC -2,220 54.34 -120,634.80 -1.02% S
DAN 235825205 DANA INC -9,229 13.05 -120,438.45 -1.02% S
CVS 126650100 CVS HEALTH CORP -1,970 61.03 -120,229.10 -1.02% S
RHI 770323103 ROBERT HALF INC -1,870 64.25 -120,147.50 -1.02% S
PTEN 703481101 PATTERSON-UTI ENERGY INC -11,885 10.10 -120,038.50 -1.02% S
ILMN 452327109 ILLUMINA INC -1,096 109.22 -119,705.12 -1.01% S
EXAS 30063P105 EXACT SCIENCES CORP -2,800 42.75 -119,700.00 -1.01% S
WBD 934423104 WARNER BROS DISCOVERY INC -16,397 7.29 -119,534.13 -1.01% S
PAYC 70432V102 PAYCOM SOFTWARE INC -847 140.99 -119,418.53 -1.01% S
PFE 717081103 PFIZER INC -4,316 27.65 -119,337.40 -1.01% S
ADBE 00724F101 ADOBE INC -260 458.74 -119,272.40 -1.01% S
EPAM 29414B104 EPAM SYSTEMS INC -670 177.96 -119,233.20 -1.01% S
GILD 375558103 GILEAD SCIENCES INC -1,875 63.56 -119,175.00 -1.01% S
ULTA 90384S303 ULTA BEAUTY INC -300 396.39 -118,917.00 -1.01% S
LW 513272104 LAMB WESTON HOLDINGS INC -1,380 86.17 -118,914.60 -1.01% S
INTC 458140100 INTEL CORP -3,900 30.46 -118,794.00 -1.00% S
XRAY 24906P109 DENTSPLY SIRONA INC -4,440 26.70 -118,548.00 -1.00% S
NKE 654106103 NIKE INC -CL B -1,255 94.18 -118,195.90 -1.00% S
MOS 61945C103 MOSAIC CO/THE -4,278 27.58 -117,987.24 -1.00% S
SBUX 855244109 STARBUCKS CORP -1,470 80.24 -117,952.80 -1.00% S
OI 67098H104 O-I GLASS INC -10,046 11.73 -117,839.58 -1.00% S
CCI 22822V101 CROWN CASTLE INC -1,175 99.83 -117,300.25 -0.99% S
HR 42226K105 HEALTHCARE REALTY TRUST INC -7,078 16.54 -117,070.12 -0.99% S
ATUS 02156K103 ALTICE USA INC- A -52,367 2.23 -116,778.41 -0.99% S
IPGP 44980X109 IPG PHOTONICS CORP -1,340 86.84 -116,365.60 -0.98% S
IART 457985208 INTEGRA LIFESCIENCES HOLDING -4,024 28.85 -116,092.40 -0.98% S
AEE 023608102 AMEREN CORPORATION -1,651 70.00 -115,570.00 -0.98% S
CHTR 16119P108 CHARTER COMMUNICATIONS INC-A -419 274.17 -114,877.23 -0.97% S
APA 03743Q108 APA CORP -4,014 28.57 -114,679.98 -0.97% S
CABO 12685J105 CABLE ONE INC -319 358.22 -114,272.18 -0.97% S
HUM 444859102 HUMANA INC -317 358.10 -113,517.70 -0.96% S
GL 37959E102 GLOBE LIFE INC -1,420 79.71 -113,188.20 -0.96% S
MKTX 57060D108 MARKETAXESS HOLDINGS INC -565 199.31 -112,610.15 -0.95% S
VC 92839U206 VISTEON CORP -1,060 106.22 -112,593.20 -0.95% S
VLY 919794107 VALLEY NATIONAL BANCORP -16,780 6.69 -112,258.20 -0.95% S
DLTR 256746108 DOLLAR TREE INC -1,050 106.53 -111,856.50 -0.95% S
HSY 427866108 HERSHEY CO/THE -601 185.59 -111,539.59 -0.94% S
UGI 902681105 UGI CORP -4,947 22.49 -111,258.03 -0.94% S
SBAC 78410G104 SBA COMMUNICATIONS CORP -563 197.01 -110,916.63 -0.94% S
UHAL 023586100 U-HAUL HOLDING CO -1,694 65.04 -110,177.76 -0.93% S
RVTY 714046109 REVVITY INC -991 110.72 -109,723.52 -0.93% S
INCY 45337C102 INCYTE CORP -1,747 62.69 -109,519.43 -0.93% S
WEN 95058W100 WENDY'S CO/THE -6,454 16.86 -108,814.44 -0.92% S
WBA 931427108 WALGREENS BOOTS ALLIANCE INC -7,029 15.45 -108,598.05 -0.92% S
UPS 911312106 UNITED PARCEL SERVICE-CL B -800 134.89 -107,912.00 -0.91% S
TDC 88076W103 TERADATA CORP -3,210 33.48 -107,470.80 -0.91% S
SVC 81761L102 SERVICE PROPERTIES TRUST -21,100 5.08 -107,188.00 -0.91% S
FMC 302491303 FMC CORP -1,934 55.42 -107,182.28 -0.91% S
AAP 00751Y106 ADVANCE AUTO PARTS INC -1,668 63.93 -106,635.24 -0.90% S
BIO 090572207 BIO-RAD LABORATORIES-A -377 281.80 -106,238.60 -0.90% S
ALB 012653101 ALBEMARLE CORP -979 108.23 -105,957.17 -0.90% S
JAZZ G50871105 JAZZ PHARMACEUTICALS PLC -938 112.70 -105,712.60 -0.89% FS
TECH 09073M104 BIO-TECHNE CORP -1,371 76.88 -105,402.48 -0.89% S
ES 30040W108 EVERSOURCE ENERGY -1,781 58.71 -104,562.51 -0.88% S
LEG 524660107 LEGGETT & PLATT INC -9,184 11.38 -104,513.92 -0.88% S
EL 518439104 ESTEE LAUDER COMPANIES-CL A -908 114.09 -103,593.72 -0.88% S
SJM 832696405 JM SMUCKER CO/THE -932 110.96 -103,414.72 -0.87% S
VSAT 92552V100 VIASAT INC -7,486 13.80 -103,306.80 -0.87% S
PII 731068102 POLARIS INC -1,310 78.44 -102,756.40 -0.87% S
BMY 110122108 BRISTOL-MYERS SQUIBB CO -2,453 41.48 -101,750.44 -0.86% S
VFC 918204108 VF CORP -7,284 13.72 -99,936.48 -0.85% S
MD 58502B106 PEDIATRIX MEDICAL GROUP INC -13,540 7.36 -99,654.40 -0.84% S
G G3922B107 GENPACT LTD -3,122 31.43 -98,124.46 -0.83% FS
PARA 92556H206 PARAMOUNT GLOBAL-CLASS B -9,461 10.35 -97,921.35 -0.83% S
HPP 444097109 HUDSON PACIFIC PROPERTIES IN -19,701 4.83 -95,155.83 -0.80% S
ADNT G0084W101 ADIENT PLC -3,518 26.52 -93,297.36 -0.79% FS
SAGE 78667J108 SAGE THERAPEUTICS INC -8,064 11.50 -92,736.00 -0.78% S
BF/B 115637209 BROWN-FORMAN CORP-CLASS B -2,141 42.83 -91,699.03 -0.78% S
DG 256677105 DOLLAR GENERAL CORP -737 124.12 -91,476.44 -0.77% S
NWL 651229106 NEWELL BRANDS INC -12,590 7.04 -88,633.60 -0.75% S
CASH -3,098,793.21 100.00 -3,098,793.21 -26.21% CA
X9USDISLQ INVESCO GOVT AGENCY INSTL 1901 26,582,797.47 1.00 26,582,797.47 224.84% 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.