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

3/27/2024
NAV $7.04
Change $-0.21
Shares Outstanding 1,765,000
Assets Under Management $12,431,650.97

 

 

 

 

Market Data

3/27/2024
Closing Price $7.06
Close Change $-0.2
Volume 11,820

Regulatory Data

3/27/2024
Premium Discount $0
30-Day Median bid-ask Spread 0.005502
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 2/29/2024

DWSH Performance During Market Drawdowns

DWSH Sector Allocation

Source: Morningstar & AdvisorShares

DWSH Market Cap

FUND

Performance

As of 2/29/2024

  NAV Market Price Return S&P 500 Index
1 Month -1.16 -1.23 5.34
3 Months -10.93 -11.06 11.98
YTD 3.34 2.98 7.11
1 Year -7.11 -7.24 30.45
3 Years -6.85 -7.03 11.91
Since Inception (7/10/2018, Annualized) -18.24 -18.27 13.18

As of 12/31/2023

  NAV Market Price Return S&P 500 Index
1 Month -13.80 -13.64 4.54
3 Months -15.50 -15.24 11.69
YTD -22.10 -22.20 26.29
1 Year -22.10 -22.20 26.29
3 Years -12.27 -12.12 10.00
Since Inception (7/10/2018, Annualized) -19.21 -19.19 11.41

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
03/27/2024 DWSH MTZ 576323109 MASTEC INC -2,099.00 93.73 -196,739.27 -1.58% S
HBI 410345102 HANESBRANDS INC -33,497.00 5.6 -187,583.20 -1.51% S
MPW 58463J304 MEDICAL PROPERTIES TRUST INC -37,366.00 4.72 -176,367.52 -1.42% S
HCSG 421906108 HEALTHCARE SERVICES GROUP -12,754.00 12.53 -159,807.62 -1.28% S
RIG H8817H100 TRANSOCEAN LTD -25,443.00 6.25 -159,018.75 -1.28% FS
AR 03674X106 ANTERO RESOURCES CORP -5,534.00 28.72 -158,936.48 -1.28% S
VAC 57164Y107 MARRIOTT VACATIONS WORLD -1,504.00 105.3 -158,371.20 -1.27% S
UAL 910047109 UNITED AIRLINES HOLDINGS INC -3,260.00 47.24 -154,002.40 -1.24% S
HLF G4412G101 HERBALIFE LTD -15,720.00 9.47 -148,868.40 -1.20% FS
AAP 00751Y106 ADVANCE AUTO PARTS INC -1,738.00 85.32 -148,286.16 -1.19% S
EXAS 30063P105 EXACT SCIENCES CORP -2,200.00 66.88 -147,136.00 -1.18% S
ATUS 02156K103 ALTICE USA INC- A -55,717.00 2.62 -145,978.54 -1.17% S
ADM 039483102 ARCHER-DANIELS-MIDLAND CO -2,311.00 62.99 -145,569.89 -1.17% S
DVN 25179M103 DEVON ENERGY CORP -2,942.00 49.46 -145,511.32 -1.17% S
EL 518439104 ESTEE LAUDER COMPANIES-CL A -1,003.00 145.04 -145,475.12 -1.17% S
MD 58502B106 PEDIATRIX MEDICAL GROUP INC -14,430.00 9.99 -144,155.70 -1.16% S
TSLA 88160R101 TESLA INC -800 179.83 -143,864.00 -1.16% S
PTEN 703481101 PATTERSON-UTI ENERGY INC -11,930.00 12.05 -143,756.50 -1.16% S
HAS 418056107 HASBRO INC -2,540.00 56.48 -143,459.20 -1.15% S
BIO 090572207 BIO-RAD LABORATORIES-A -407 349.56 -142,270.92 -1.14% S
HRL 440452100 HORMEL FOODS CORP -4,082.00 34.85 -142,257.70 -1.14% S
BG H11356104 BUNGE GLOBAL SA -1,384.00 102.42 -141,749.28 -1.14% FS
MDU 552690109 MDU RESOURCES GROUP INC -5,775.00 24.5 -141,487.50 -1.14% S
ALK 011659109 ALASKA AIR GROUP INC -3,330.00 42.01 -139,893.30 -1.12% S
ICUI 44930G107 ICU MEDICAL INC -1,357.00 102.89 -139,621.73 -1.12% S
APA 03743Q108 APA CORP -4,134.00 33.71 -139,357.14 -1.12% S
NUS 67018T105 NU SKIN ENTERPRISES INC - A -10,066.00 13.75 -138,407.50 -1.11% S
D 25746U109 DOMINION ENERGY INC -2,836.00 48.52 -137,602.72 -1.11% S
AA 013872106 ALCOA CORP -4,143.00 33.21 -137,589.03 -1.11% S
BMY 110122108 BRISTOL-MYERS SQUIBB CO -2,583.00 53.25 -137,544.75 -1.11% S
LKQ 501889208 LKQ CORP -2,580.00 53.15 -137,127.00 -1.10% S
RES 749660106 RPC INC -17,817.00 7.69 -137,012.73 -1.10% S
K 487836108 KELLANOVA -2,413.00 56.65 -136,696.45 -1.10% S
PII 731068102 POLARIS INC -1,375.00 99.08 -136,235.00 -1.09% S
GIS 370334104 GENERAL MILLS INC -1,953.00 69.66 -136,045.98 -1.09% S
BWA 099724106 BORGWARNER INC -3,876.00 34.7 -134,497.20 -1.08% S
NEE 65339F101 NEXTERA ENERGY INC -2,108.00 63.79 -134,469.32 -1.08% S
VC 92839U206 VISTEON CORP -1,140.00 117.14 -133,539.60 -1.07% S
ALB 012653101 ALBEMARLE CORP -1,029.00 128.8 -132,535.20 -1.06% S
WEN 95058W100 WENDY'S CO/THE -7,000.00 18.9 -132,300.00 -1.06% S
MKC 579780206 MCCORMICK & CO-NON VTG SHRS -1,740.00 76.03 -132,292.20 -1.06% S
IPGP 44980X109 IPG PHOTONICS CORP -1,450.00 90.57 -131,326.50 -1.06% S
UGI 902681105 UGI CORP -5,427.00 24.16 -131,116.32 -1.05% S
OI 67098H104 O-I GLASS INC -8,056.00 16.19 -130,426.64 -1.05% S
DXC 23355L106 DXC TECHNOLOGY CO -6,190.00 21.06 -130,361.40 -1.05% S
AEE 023608102 AMEREN CORPORATION -1,781.00 73.15 -130,280.15 -1.05% S
FMC 302491303 FMC CORP -2,076.00 62.7 -130,165.20 -1.05% S
CHRW 12541W209 C.H. ROBINSON WORLDWIDE INC -1,750.00 74.32 -130,060.00 -1.05% S
WHR 963320106 WHIRLPOOL CORP -1,100.00 117.89 -129,679.00 -1.04% S
CHTR 16119P108 CHARTER COMMUNICATIONS INC-A -439 293.51 -128,850.89 -1.04% S
ADNT G0084W101 ADIENT PLC -3,878.00 33.17 -128,633.26 -1.03% FS
PFE 717081103 PFIZER INC -4,606.00 27.78 -127,954.68 -1.03% S
ST G8060N102 SENSATA TECHNOLOGIES HOLDING -3,511.00 36.43 -127,905.73 -1.03% FS
VYX 62886E108 NCR VOYIX CORP -10,100.00 12.61 -127,361.00 -1.02% S
SJM 832696405 JM SMUCKER CO/THE -1,007.00 125.72 -126,600.04 -1.02% S
APD 009158106 AIR PRODUCTS & CHEMICALS INC -520 243.1 -126,412.00 -1.02% S
VFC 918204108 VF CORP -8,364.00 15.09 -126,212.76 -1.01% S
DG 256677105 DOLLAR GENERAL CORP -817 154.21 -125,989.57 -1.01% S
CPB 134429109 CAMPBELL SOUP CO -2,824.00 44.07 -124,453.68 -1.00% S
BIIB 09062X103 BIOGEN INC -575 216.34 -124,395.50 -1.00% S
MAA 59522J103 MID-AMERICA APARTMENT COMM -947 130.8 -123,867.60 -1.00% S
DAN 235825205 DANA INC -9,719.00 12.74 -123,820.06 -0.99% S
HSY 427866108 HERSHEY CO/THE -639 193.71 -123,780.69 -0.99% S
CGNX 192422103 COGNEX CORP -2,911.00 42.48 -123,659.28 -0.99% S
UPS 911312106 UNITED PARCEL SERVICE-CL B -830 147.33 -122,283.90 -0.98% S
ILMN 452327109 ILLUMINA INC -881 138.68 -122,177.08 -0.98% S
UHAL 023586100 U-HAUL HOLDING CO -1,834.00 66.31 -121,612.54 -0.98% S
JAZZ G50871105 JAZZ PHARMACEUTICALS PLC -1,008.00 120.51 -121,474.08 -0.98% FS
LEG 524660107 LEGGETT & PLATT INC -6,374.00 18.96 -120,851.04 -0.97% S
PAYC 70432V102 PAYCOM SOFTWARE INC -612 197.22 -120,698.64 -0.97% S
CAG 205887102 CONAGRA BRANDS INC -4,091.00 29.49 -120,643.59 -0.97% S
BF/B 115637209 BROWN-FORMAN CORP-CLASS B -2,311.00 52.04 -120,264.44 -0.97% S
HUM 444859102 HUMANA INC -338 349.5 -118,131.00 -0.95% S
PYPL 70450Y103 PAYPAL HOLDINGS INC -1,750.00 66.57 -116,497.50 -0.94% S
WTRG 29670G102 ESSENTIAL UTILITIES INC -3,132.00 36.8 -115,257.60 -0.93% S
PARA 92556H206 PARAMOUNT GLOBAL-CLASS B -9,761.00 11.7 -114,203.70 -0.92% S
PODD 45784P101 INSULET CORP -675 169.18 -114,196.50 -0.92% S
WBA 931427108 WALGREENS BOOTS ALLIANCE INC -5,419.00 21.02 -113,907.38 -0.92% S
RVTY 714046109 REVVITY INC -1,075.00 105.41 -113,315.75 -0.91% S
BAX 071813109 BAXTER INTERNATIONAL INC -2,630.00 42.69 -112,274.70 -0.90% S
SAGE 78667J108 SAGE THERAPEUTICS INC -5,819.00 19.04 -110,793.76 -0.89% S
ZD 48123V102 ZIFF DAVIS INC -1,752.00 63.1 -110,551.20 -0.89% S
ES 30040W108 EVERSOURCE ENERGY -1,871.00 58.98 -110,351.58 -0.89% S
INCY 45337C102 INCYTE CORP -1,931.00 57.12 -110,298.72 -0.89% S
AES 00130H105 AES CORP -6,317.00 17.25 -108,968.25 -0.88% S
HR 42226K105 HEALTHCARE REALTY TRUST INC -7,798.00 13.94 -108,704.12 -0.87% S
NEM 651639106 NEWMONT CORP -3,064.00 35.25 -108,006.00 -0.87% S
SEE 81211K100 SEALED AIR CORP -2,887.00 36.91 -106,559.17 -0.86% S
G G3922B107 GENPACT LTD -3,252.00 32.76 -106,535.52 -0.86% FS
HAIN 405217100 HAIN CELESTIAL GROUP INC -13,396.00 7.93 -106,230.28 -0.85% S
WBD 934423104 WARNER BROS DISCOVERY INC -12,247.00 8.64 -105,814.08 -0.85% S
CABO 12685J105 CABLE ONE INC -243 424.98 -103,270.14 -0.83% S
TECH 09073M104 BIO-TECHNE CORP -1,486.00 69.42 -103,158.12 -0.83% S
NWL 651229106 NEWELL BRANDS INC -13,060.00 7.87 -102,782.20 -0.83% S
IART 457985208 INTEGRA LIFESCIENCES HOLDING -2,944.00 34.83 -102,539.52 -0.82% S
MOS 61945C103 MOSAIC CO/THE -3,178.00 32.01 -101,727.78 -0.82% S
VSAT 92552V100 VIASAT INC -5,586.00 18.09 -101,050.74 -0.81% S
CBRL 22410J106 CRACKER BARREL OLD COUNTRY -1,385.00 72.57 -100,509.45 -0.81% S
NYCB 649445103 NEW YORK COMMUNITY BANCORP -23,830.00 3.34 -79,592.20 -0.64% S
WW 98262P101 WW INTERNATIONAL INC -40,000.00 1.82 -72,800.00 -0.58% S
NLOP 64110Y108 NET LEASE OFFICE PROPERTY -1 23.6 -23.60 S
CASH -2,187,600.30 100 -2,187,600.30 -17.58% CA
X9USDISLQ INVESCO GOVT AGENCY INSTL 1901 27,487,133.57 1 27,487,133.57 220.87% 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.