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 

Get a quick and easy introduction to the DWSH ETF.

DWSH Overview

  Get a quick and easy introduction to the DWSH ETF.

Fund

Price History

Fund Data

12/1/2023
NAV $8.66
Change $-0.34
Shares Outstanding 2,235,000
Assets Under Management $19,348,440.61

 

 

 

 

Market Data

12/1/2023
Closing Price $8.68
Close Change $-0.29
Volume 116,469

Regulatory Data

12/1/2023
Premium Discount $0.01
30-Day Median bid-ask Spread 0.003217
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 11/30/2023

DWSH Performance During Market Drawdowns

DWSH Sector Allocation

Source: Morningstar & AdvisorShares

DWSH Market Cap

FUND

Performance

As of 10/31/2023

  NAV Market Price Return S&P 500 Index
1 Month 8.59 8.73 -2.1
3 Months 26.59 26.56 -8.25
YTD 0.11 -0.2 10.69
1 Year -0.04 0 10.14
3 Years -17.84 -17.87 10.36
Since Inception (7/10/2018, Annualized) -15.86 -15.87 9.83

As of 9/30/2023

  NAV Market Price Return S&P 500 Index
1 Month 8.87 8.66 -4.77
3 Months 4.53 4.69 -3.27
YTD -7.81 -8.22 13.07
1 Year -17.56 -17.55 21.62
3 Years -21.58 -21.57 10.15
Since Inception (7/10/2018, Annualized) -17.41 -17.44 10.44

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
12/01/2023 DWSH TREE 52603B107 LENDINGTREE INC -15,521.00 19.78 -307,005.38 -1.59% S
HPP 444097109 HUDSON PACIFIC PROPERTIES IN -45,749.00 6.71 -306,975.79 -1.59% S
M 55616P104 MACY'S INC -17,375.00 17.13 -297,633.75 -1.54% S
SQ 852234103 BLOCK INC -4,382.00 65.04 -285,005.28 -1.47% S
SNAP 83304A106 SNAP INC - A -19,374.00 14.14 -273,948.36 -1.42% S
SPR 848574109 SPIRIT AEROSYSTEMS HOLD-CL A -9,480.00 28.17 -267,051.60 -1.38% S
IFF 459506101 INTL FLAVORS & FRAGRANCES -3,469.00 76.78 -266,349.82 -1.38% S
FL 344849104 FOOT LOCKER INC -8,870.00 29.71 -263,527.70 -1.36% S
VFC 918204108 VF CORP -14,108.00 18.09 -255,213.72 -1.32% S
CMA 200340107 COMERICA INC -5,195.00 48.2 -250,399.00 -1.29% S
UAA 904311107 UNDER ARMOUR INC-CLASS A -28,250.00 8.6 -242,950.00 -1.26% S
KEY 493267108 KEYCORP -18,128.00 13.22 -239,652.16 -1.24% S
BURL 122017106 BURLINGTON STORES INC -1,330.00 174.06 -231,499.80 -1.20% S
EPAM 29414B104 EPAM SYSTEMS INC -888 258.89 -229,894.32 -1.19% S
ALK 011659109 ALASKA AIR GROUP INC -5,730.00 39.73 -227,652.90 -1.18% S
FHN 320517105 FIRST HORIZON CORP -17,026.00 13.34 -227,126.84 -1.17% S
MTZ 576323109 MASTEC INC -3,580.00 63.12 -225,969.60 -1.17% S
FIS 31620M106 FIDELITY NATIONAL INFO SERV -3,764.00 59.9 -225,463.60 -1.17% S
NEM 651639106 NEWMONT CORP -5,460.00 41.2 -224,952.00 -1.16% S
EL 518439104 ESTEE LAUDER COMPANIES-CL A -1,697.00 131.94 -223,902.18 -1.16% S
TGT 87612E106 TARGET CORP -1,660.00 134.78 -223,734.80 -1.16% S
PODD 45784P101 INSULET CORP -1,160.00 192.19 -222,940.40 -1.15% S
EEFT 298736109 EURONET WORLDWIDE INC -2,490.00 89.12 -221,908.80 -1.15% S
ZBRA 989207105 ZEBRA TECHNOLOGIES CORP-CL A -910 241.22 -219,510.20 -1.13% S
HLF G4412G101 HERBALIFE LTD -16,657.00 13.15 -219,039.55 -1.13% FS
SBAC 78410G104 SBA COMMUNICATIONS CORP -873 250.57 -218,747.61 -1.13% S
TPR 876030107 TAPESTRY INC -6,650.00 32.7 -217,455.00 -1.12% S
ICUI 44930G107 ICU MEDICAL INC -2,350.00 91.34 -214,649.00 -1.11% S
CFG 174610105 CITIZENS FINANCIAL GROUP -7,500.00 28.52 -213,900.00 -1.11% S
ARE 015271109 ALEXANDRIA REAL ESTATE EQUIT -1,810.00 118.14 -213,833.40 -1.10% S
SABR 78573M104 SABRE CORP -56,200.00 3.8 -213,560.00 -1.10% S
WPC 92936U109 WP CAREY INC -3,330.00 63.38 -211,055.40 -1.09% S
IART 457985208 INTEGRA LIFESCIENCES HOLDING -5,141.00 41.02 -210,883.82 -1.09% S
LUV 844741108 SOUTHWEST AIRLINES CO -7,880.00 26.69 -210,317.20 -1.09% S
MOS 61945C103 MOSAIC CO/THE -5,662.00 36.9 -208,927.80 -1.08% S
CCI 22822V101 CROWN CASTLE INC -1,757.00 118.57 -208,327.49 -1.08% S
PAYC 70432V102 PAYCOM SOFTWARE INC -1,120.00 185.75 -208,040.00 -1.08% S
JWN 655664100 NORDSTROM INC -12,840.00 16.19 -207,879.60 -1.07% S
VSAT 92552V100 VIASAT INC -9,470.00 21.95 -207,866.50 -1.07% S
UGI 902681105 UGI CORP -9,263.00 22.44 -207,861.72 -1.07% S
ASH 044186104 ASHLAND INC -2,520.00 82.26 -207,295.20 -1.07% S
SLAB 826919102 SILICON LABORATORIES INC -1,900.00 109.08 -207,252.00 -1.07% S
MHK 608190104 MOHAWK INDUSTRIES INC -2,250.00 91.93 -206,842.50 -1.07% S
JBLU 477143101 JETBLUE AIRWAYS CORP -44,520.00 4.63 -206,127.60 -1.07% S
RMD 761152107 RESMED INC -1,290.00 159.64 -205,935.60 -1.06% S
MKSI 55306N104 MKS INSTRUMENTS INC -2,440.00 84.19 -205,423.60 -1.06% S
NUS 67018T105 NU SKIN ENTERPRISES INC - A -11,660.00 17.56 -204,749.60 -1.06% S
SAGE 78667J108 SAGE THERAPEUTICS INC -10,020.00 20.39 -204,307.80 -1.06% S
ES 30040W108 EVERSOURCE ENERGY -3,330.00 60.78 -202,397.40 -1.05% S
CAG 205887102 CONAGRA BRANDS INC -7,130.00 28.36 -202,206.80 -1.04% S
PARA 92556H206 PARAMOUNT GLOBAL-CLASS B -12,805.00 15.78 -202,062.90 -1.04% S
G G3922B107 GENPACT LTD -5,760.00 34.76 -200,217.60 -1.03% FS
TFC 89832Q109 TRUIST FINANCIAL CORP -6,016.00 33.27 -200,152.32 -1.03% S
CPB 134429109 CAMPBELL SOUP CO -4,920.00 40.6 -199,752.00 -1.03% S
FMC 302491303 FMC CORP -3,580.00 55.75 -199,585.00 -1.03% S
AA 013872106 ALCOA CORP -7,159.00 27.74 -198,590.66 -1.03% S
MPW 58463J304 MEDICAL PROPERTIES TRUST INC -37,885.00 5.21 -197,380.85 -1.02% S
MDU 552690109 MDU RESOURCES GROUP INC -10,220.00 19.31 -197,348.20 -1.02% S
WBA 931427108 WALGREENS BOOTS ALLIANCE INC -9,491.00 20.79 -197,317.89 -1.02% S
MKTX 57060D108 MARKETAXESS HOLDINGS INC -820 240.17 -196,939.40 -1.02% S
CGNX 192422103 COGNEX CORP -5,120.00 38.4 -196,608.00 -1.02% S
WTRG 29670G102 ESSENTIAL UTILITIES INC -5,430.00 36.03 -195,642.90 -1.01% S
MMM 88579Y101 3M CO -1,946.00 99.85 -194,308.10 -1.00% S
ZD 48123V102 ZIFF DAVIS INC -2,976.00 64.74 -192,666.24 -1.00% S
PYPL 70450Y103 PAYPAL HOLDINGS INC -3,191.00 59.65 -190,343.15 -0.98% S
SMG 810186106 SCOTTS MIRACLE-GRO CO -3,255.00 58.15 -189,278.25 -0.98% S
MTD 592688105 METTLER-TOLEDO INTERNATIONAL -171 1,104.47 -188,864.37 -0.98% S
CBRL 22410J106 CRACKER BARREL OLD COUNTRY -2,590.00 72.36 -187,412.40 -0.97% S
AES 00130H105 AES CORP -10,330.00 18.13 -187,282.90 -0.97% S
MASI 574795100 MASIMO CORP -1,920.00 96.71 -185,683.20 -0.96% S
UHAL 023586100 U-HAUL HOLDING CO -3,176.00 58.44 -185,605.44 -0.96% S
JBGS 46590V100 JBG SMITH PROPERTIES -12,309.00 15.01 -184,758.09 -0.95% S
NWL 651229106 NEWELL BRANDS INC -22,683.00 8.11 -183,959.13 -0.95% S
INCY 45337C102 INCYTE CORP -3,394.00 54.02 -183,343.88 -0.95% S
DG 256677105 DOLLAR GENERAL CORP -1,360.00 134.69 -183,178.40 -0.95% S
TSN 902494103 TYSON FOODS INC-CL A -3,764.00 48.2 -181,424.80 -0.94% S
HCSG 421906108 HEALTHCARE SERVICES GROUP -18,050.00 10 -180,500.00 -0.93% S
D 25746U109 DOMINION ENERGY INC -3,833.00 46.67 -178,886.11 -0.92% S
HOG 412822108 HARLEY-DAVIDSON INC -5,690.00 31.33 -178,267.70 -0.92% S
DEI 25960P109 DOUGLAS EMMETT INC -13,140.00 13.55 -178,047.00 -0.92% S
HAIN 405217100 HAIN CELESTIAL GROUP INC -16,417.00 10.84 -177,960.28 -0.92% S
LEG 524660107 LEGGETT & PLATT INC -7,440.00 23.9 -177,816.00 -0.92% S
WBD 934423104 WARNER BROS DISCOVERY INC -15,647.00 11.33 -177,280.51 -0.92% S
ATUS 02156K103 ALTICE USA INC- A -77,162.00 2.29 -176,700.98 -0.91% S
CTLT 148806102 CATALENT INC -4,297.00 40.15 -172,524.55 -0.89% S
HIW 431284108 HIGHWOODS PROPERTIES INC -8,369.00 20.48 -171,397.12 -0.89% S
RVTY 714046109 REVVITY INC -1,870.00 91.28 -170,693.60 -0.88% S
AAP 00751Y106 ADVANCE AUTO PARTS INC -3,137.00 54.09 -169,680.33 -0.88% S
BIO 090572207 BIO-RAD LABORATORIES-A -552 307 -169,464.00 -0.88% S
SEE 81211K100 SEALED AIR CORP -4,967.00 34.06 -169,176.02 -0.87% S
BAX 071813109 BAXTER INTERNATIONAL INC -4,627.00 36.55 -169,116.85 -0.87% S
ILMN 452327109 ILLUMINA INC -1,529.00 109.79 -167,868.91 -0.87% S
TECH 09073M104 BIO-TECHNE CORP -2,554.00 64.57 -164,911.78 -0.85% S
LNC 534187109 LINCOLN NATIONAL CORP -6,725.00 24.13 -162,274.25 -0.84% S
PFE 717081103 PFIZER INC -5,607.00 28.91 -162,098.37 -0.84% S
CABO 12685J105 CABLE ONE INC -297 543 -161,271.00 -0.83% S
HBI 410345102 HANESBRANDS INC -39,492.00 3.95 -155,993.40 -0.81% S
VAC 57164Y107 MARRIOTT VACATIONS WORLD -2,010.00 77.53 -155,835.30 -0.81% S
ALB 012653101 ALBEMARLE CORP -1,210.00 126.16 -152,653.60 -0.79% S
MD 58502B106 PEDIATRIX MEDICAL GROUP INC -12,570.00 8.77 -110,238.90 -0.57% S
NLOP 64110Y108 NET LEASE OFFICE PROPERTY -333 18.74 -6,240.42 -0.03% S
CASH 7,761,505.81 100 7,761,505.81 40.11% CA
X9USDISLQ INVESCO GOVT AGENCY INSTL 1901 32,012,661.38 1 32,012,661.38 165.42% 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.

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.