DWUS: 3rd Quarter 2022 Portfolio Review
Performance & Holdings
DWUS made a shift in May away from growth and into low volatility. The fund now has a more defensive posture than it did entering the year and maintained this exposure through the end of the third quarter. Looking at performance, DWUS underperformed the S&P 500 Index by 0.18% (market) in the third quarter.
The portfolio continues to be allocated to securities that we believe to display favorable relative strength characteristics. The portfolio is made up of two ETFs, both of which have shown high relative strength versus the broad market. Growth areas in the market have picked up momentum over the last couple of months and the portfolio remains in growth. Its next evaluation period will be at the beginning of February, in which some changes may occur.
|Ticker||Security Description||Portfolio Weight %|
|SPLV||INVESCO S&P 500 LOW VOLATILITY ETF||50.51%|
|RSP||INVESCO S&P 500 EQUAL WEIGHT ETF||48.84%|
Top Underlying Stock Exposure
|Security Description||Ticker||Portfolio Weight %|
|Johnson & Johnson||JNJ||0.80%|
|Bristol-Myers Squibb Company||BMY||0.73%|
|Gilead Sciences, Inc.||GILD||0.73%|
|Berkshire Hathaway Inc. Class B||BRK.B||0.69%|
|Constellation Brands, Inc. Class A||STZ||0.66%|
|General Mills, Inc.||GIS||0.66%|
|Waste Management, Inc.||WM||0.66%|
As of 09.30.2022. Cash not included.
Utilities remain the highest weighted sector with 15.78% of the underlying exposure which is followed by healthcare at 13.67%. Financials, industrials, and consumer staples are all hovering around 12% of the sector exposure for DWUS. Communication services, energy, and materials are the three underweighted sectors with each possessing less than 5% of the total sector exposure. The overweight sectors in DWUS highlight the more defensive nature of the underlying holdings entering Q4.
As of 09.30.2022.
Nasdaq Dorsey Wright
AdvisorShares Dorsey Wright FSM US Core ETF (DWUS) Portfolio Strategist