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 Options Available
DWSH Nasdaq 7/10/2018 00768Y529 DWSH.NV Yes
About The ETF

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.

What Is Relative Strength?

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.

Why Invest in DWSH?
  • 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.
Where Can DWSH Fit in a Traditional Portfolio?

DWSH may be used to hedge long equity exposure and seek positive returns in declining equity markets.

Key Attributes
  • 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.
About the Portfolio Strategist

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

11/22/2024
NAV $7.14
Change $-0.13
Shares Outstanding 1,340,000
Assets Under Management $9,570,370.40

 

 

 

 

Market Data

11/22/2024
Closing Price $7.14
Close Change $-0.12
Volume 16,143

Regulatory Data

11/22/2024
Premium Discount $0.00
30-Day Median bid-ask Spread 0.004046
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 10/31/2024

Source: Morningstar & AdvisorShares

FUND

Performance

As of 10/31/2024

  NAV Market Price Return S&P 500 Index
1 Month 4.84 4.20 -0.91
3 Months 6.73 6.58 3.66
YTD 6.45 5.82 20.97
1 Year -17.16 -17.51 38.02
3 Years -1.83 -1.93 9.08
Since Inception (7/10/2018, Annualized) -16.07 -16.14 13.88

As of 9/30/2024

  NAV Market Price Return S&P 500 Index
1 Month -1.84 -1.79 2.14
3 Months -4.90 -4.54 5.89
YTD 1.54 1.56 22.08
1 Year -14.20 -13.92 36.35
3 Years -3.67 -3.56 11.91
Since Inception (7/10/2018, Annualized) -16.91 -16.89 14.25

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.

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Fund

Holdings

As of

Excel    CSV

Date Account Symbol Stock Ticker Security ID Security Description Shares Share Price Market Value Portfolio Weight Asset Group
11/22/2024 DWSH ATUS 02156K103 ALTICE USA INC- A -56,010 2.59 -145,065.90 -1.52% S
EPAM 29414B104 EPAM SYSTEMS INC -544 245.27 -133,426.88 -1.39% S
NUS 67018T105 NU SKIN ENTERPRISES INC - A -18,098 7.22 -130,667.56 -1.36% S
ODFL 679580100 OLD DOMINION FREIGHT LINE -592 220.25 -130,388.00 -1.36% S
WBD 934423104 WARNER BROS DISCOVERY INC -12,716 10.11 -128,558.76 -1.34% S
LW 513272104 LAMB WESTON HOLDINGS INC -1,670 76.92 -128,456.40 -1.34% S
ALB 012653101 ALBEMARLE CORP -1,166 108.38 -126,371.08 -1.32% S
GPN 37940X102 GLOBAL PAYMENTS INC -1,060 117.08 -124,104.80 -1.30% S
HUM 444859102 HUMANA INC -413 298.11 -123,119.43 -1.29% S
HAIN 405217100 HAIN CELESTIAL GROUP INC -14,830 8.24 -122,199.20 -1.28% S
IART 457985208 INTEGRA LIFESCIENCES HOLDING -5,078 23.58 -119,739.24 -1.25% S
INTC 458140100 INTEL CORP -4,885 24.50 -119,682.50 -1.25% S
FLG 649445400 FLAGSTAR FINANCIAL INC -10,173 11.70 -119,024.10 -1.24% S
EL 518439104 ESTEE LAUDER COMPANIES-CL A -1,658 69.93 -115,943.94 -1.21% S
VSAT 92552V100 VIASAT INC -12,267 9.41 -115,432.47 -1.21% S
GT 382550101 GOODYEAR TIRE & RUBBER CO -11,804 9.71 -114,616.84 -1.20% S
CABO 12685J105 CABLE ONE INC -274 416.55 -114,134.70 -1.19% S
VYX 62886E108 NCR VOYIX CORP -7,775 14.50 -112,737.50 -1.18% S
HAL 406216101 HALLIBURTON CO -3,500 31.94 -111,790.00 -1.17% S
SNAP 83304A106 SNAP INC - A -9,730 11.42 -111,116.60 -1.16% S
VAC 57164Y107 MARRIOTT VACATIONS WORLD -1,175 94.07 -110,532.25 -1.15% S
EW 28176E108 EDWARDS LIFESCIENCES CORP -1,558 70.48 -109,807.84 -1.15% S
ZD 48123V102 ZIFF DAVIS INC -1,869 58.24 -108,850.56 -1.14% S
F 345370860 FORD MOTOR CO -9,700 11.18 -108,446.00 -1.13% S
AGCO 001084102 AGCO CORP -1,099 98.43 -108,174.57 -1.13% S
HPP 444097109 HUDSON PACIFIC PROPERTIES IN -32,514 3.32 -107,946.48 -1.13% S
ENTG 29362U104 ENTEGRIS INC -1,000 107.24 -107,240.00 -1.12% S
HGV 43283X105 HILTON GRAND VACATIONS INC -2,531 42.18 -106,757.58 -1.12% S
QRVO 74736K101 QORVO INC -1,540 69.25 -106,645.00 -1.11% S
BBWI 070830104 BATH & BODY WORKS INC -3,446 30.71 -105,826.66 -1.11% S
BMRN 09061G101 BIOMARIN PHARMACEUTICAL INC -1,640 64.26 -105,386.40 -1.10% S
PII 731068102 POLARIS INC -1,543 67.95 -104,846.85 -1.10% S
GPC 372460105 GENUINE PARTS CO -840 124.80 -104,832.00 -1.10% S
WST 955306105 WEST PHARMACEUTICAL SERVICES -331 316.59 -104,791.29 -1.09% S
WFRD G48833118 WEATHERFORD INTERNATIONAL PL -1,220 85.83 -104,712.60 -1.09% FS
PRGO G97822103 PERRIGO CO PLC -3,730 28.07 -104,701.10 -1.09% FS
CACC 225310101 CREDIT ACCEPTANCE CORP -220 473.10 -104,082.00 -1.09% S
M 55616P104 MACY'S INC -6,344 16.30 -103,407.20 -1.08% S
XRAY 24906P109 DENTSPLY SIRONA INC -5,481 18.77 -102,878.37 -1.07% S
BIIB 09062X103 BIOGEN INC -649 157.90 -102,477.10 -1.07% S
OI 67098H104 O-I GLASS INC -7,909 12.93 -102,263.37 -1.07% S
VRSN 92343E102 VERISIGN INC -565 180.77 -102,135.05 -1.07% S
NOV 62955J103 NOV INC -6,120 16.61 -101,653.20 -1.06% S
RLJ 74965L101 RLJ LODGING TRUST -10,243 9.91 -101,508.13 -1.06% S
DVN 25179M103 DEVON ENERGY CORP -2,570 39.45 -101,386.50 -1.06% S
MTN 91879Q109 VAIL RESORTS INC -550 184.24 -101,332.00 -1.06% S
CBRL 22410J106 CRACKER BARREL OLD COUNTRY -2,086 48.41 -100,983.26 -1.05% S
W 94419L101 WAYFAIR INC- CLASS A -2,277 44.03 -100,256.31 -1.05% S
CGNX 192422103 COGNEX CORP -2,460 40.67 -100,048.20 -1.05% S
CVS 126650100 CVS HEALTH CORP -1,719 58.01 -99,719.19 -1.04% S
UHAL 023586100 U-HAUL HOLDING CO -1,405 70.91 -99,628.55 -1.04% S
ALGN 016255101 ALIGN TECHNOLOGY INC -440 225.89 -99,391.60 -1.04% S
DINO 403949100 HF SINCLAIR CORP -2,338 42.37 -99,061.06 -1.03% S
DXCM 252131107 DEXCOM INC -1,360 72.83 -99,048.80 -1.03% S
JAZZ G50871105 JAZZ PHARMACEUTICALS PLC -780 126.67 -98,802.60 -1.03% FS
SLB 806857108 SCHLUMBERGER LTD -2,230 44.23 -98,632.90 -1.03% FS
RES 749660106 RPC INC -15,255 6.43 -98,089.65 -1.02% S
ADM 039483102 ARCHER-DANIELS-MIDLAND CO -1,845 53.13 -98,024.85 -1.02% S
OXY 674599105 OCCIDENTAL PETROLEUM CORP -1,878 51.93 -97,524.54 -1.02% S
BEN 354613101 FRANKLIN RESOURCES INC -4,439 21.96 -97,480.44 -1.02% S
ENOV 194014502 ENOVIS CORP -2,082 46.67 -97,166.94 -1.01% S
OLN 680665205 OLIN CORP -2,257 42.87 -96,757.59 -1.01% S
SLAB 826919102 SILICON LABORATORIES INC -910 106.27 -96,705.70 -1.01% S
SIRI 829933100 SIRIUS XM HOLDINGS INC -3,638 26.22 -95,388.36 -1.00% S
DG 256677105 DOLLAR GENERAL CORP -1,272 74.93 -95,310.96 -1.00% S
HLF G4412G101 HERBALIFE LTD -11,273 8.42 -94,918.66 -0.99% FS
RIG H8817H100 TRANSOCEAN LTD -21,150 4.47 -94,540.50 -0.99% FS
MUR 626717102 MURPHY OIL CORP -2,774 33.40 -92,651.60 -0.97% S
CC 163851108 CHEMOURS CO/THE -4,285 21.53 -92,256.05 -0.96% S
CRL 159864107 CHARLES RIVER LABORATORIES -470 195.77 -92,011.90 -0.96% S
SAGE 78667J108 SAGE THERAPEUTICS INC -17,790 5.17 -91,974.30 -0.96% S
LKQ 501889208 LKQ CORP -2,386 38.50 -91,861.00 -0.96% S
MCHP 595017104 MICROCHIP TECHNOLOGY INC -1,350 66.69 -90,031.50 -0.94% S
DLTR 256746108 DOLLAR TREE INC -1,354 66.40 -89,905.60 -0.94% S
FMC 302491303 FMC CORP -1,523 58.74 -89,461.02 -0.93% S
UPS 911312106 UNITED PARCEL SERVICE-CL B -656 134.82 -88,441.92 -0.92% S
LEG 524660107 LEGGETT & PLATT INC -7,422 11.66 -86,540.52 -0.90% S
MOS 61945C103 MOSAIC CO/THE -3,267 26.03 -85,040.01 -0.89% S
AAP 00751Y106 ADVANCE AUTO PARTS INC -2,076 40.79 -84,680.04 -0.88% S
HUN 447011107 HUNTSMAN CORP -4,270 19.73 -84,247.10 -0.88% S
XRX 98421M106 XEROX HOLDINGS CORP -9,304 9.04 -84,108.16 -0.88% S
BRKR 116794108 BRUKER CORP -1,470 57.07 -83,892.90 -0.88% S
TRIP 896945201 TRIPADVISOR INC -6,024 13.87 -83,552.88 -0.87% S
BA 097023105 BOEING CO/THE -555 149.29 -82,855.95 -0.87% S
PTEN 703481101 PATTERSON-UTI ENERGY INC -9,512 8.68 -82,564.16 -0.86% S
LEA 521865204 LEAR CORP -842 97.89 -82,423.38 -0.86% S
IPGP 44980X109 IPG PHOTONICS CORP -1,056 77.79 -82,146.24 -0.86% S
TDC 88076W103 TERADATA CORP -2,659 30.70 -81,631.30 -0.85% S
NKE 654106103 NIKE INC -CL B -1,053 77.40 -81,502.20 -0.85% S
VC 92839U206 VISTEON CORP -880 92.01 -80,968.80 -0.85% S
ULTA 90384S303 ULTA BEAUTY INC -238 338.38 -80,534.44 -0.84% S
COTY 222070203 COTY INC-CL A -11,000 7.32 -80,520.00 -0.84% S
KSS 500255104 KOHLS CORP -4,716 17.03 -80,313.48 -0.84% S
SVC 81761L102 SERVICE PROPERTIES TRUST -28,729 2.77 -79,579.33 -0.83% S
ADNT G0084W101 ADIENT PLC -3,999 19.34 -77,340.66 -0.81% FS
APA 03743Q108 APA CORP -3,351 22.77 -76,302.27 -0.80% S
TECH 09073M104 BIO-TECHNE CORP -1,067 71.28 -76,055.76 -0.79% S
WBA 931427108 WALGREENS BOOTS ALLIANCE INC -8,711 8.66 -75,437.26 -0.79% S
BF/B 115637209 BROWN-FORMAN CORP-CLASS B -1,781 41.37 -73,679.97 -0.77% S
DAN 235825205 DANA INC -8,400 8.54 -71,736.00 -0.75% S
CASH -6,142,501.47 100.00 -6,142,501.47 -64.16% CA
X9USDISLQ INVESCO GOVT AGENCY INSTL 1901 25,708,664.3 1.00 25,708,664.30 268.55% MM
Holdings and allocations are subject to risks and to change.

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FUND

Fees & Expenses

Management Fee 0.75%
Total Annual Operating Expenses 4.12%
Total Annual Operating Expenses After Recapture* 4.00%

*Total Annual Operating Expenses and Total Annual Operating Expenses After Recapture in this fee table may not correlate to the expense ratios in the Fund’s financial highlights. The Advisor has contractually agreed to reduce its fees and/or reimburse expenses 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. The prospectus shows that the Advisor recaptured 0.05% during the most recent fiscal year, which is an expense of the Fund. 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.