DWAS vs VYM
Invesco Dorsey Wright SmallCap Momentum ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. DWAS delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | DWAS | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.60% | 0.04% | |
| AUM | $434M | $79.0B | |
| Dividend Yield | 0.00% | 2.86% | |
| Holdings | 202 | 568 | |
| YTD Return | +21.12% | +16.10% | |
| 1Y Return | +36.48% | +25.99% | |
| 3Y Return (annualized) | +14.28% | +18.29% | |
| 5Y Return (annualized) | +6.91% | +12.35% | |
| Volatility (annualized) | 21.3% | 14.6% | |
| Max Drawdown | -46.2% | -58.8% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Jul 19, 2012 | Nov 10, 2006 |
DWAS vs VYM Performance
Invesco Dorsey Wright SmallCap Momentum ETF (DWAS) is a ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year DWAS returned +36.48% while VYM returned +25.99%. Year to date, DWAS is up 21.12% versus a gain of 16.10% for VYM.
Over three years, DWAS compounded at +14.28% per year against +18.29% for VYM; over five years the annualized figures are +6.91% and +12.35% respectively. Across the full 14-year window we track, DWAS has the edge at +12.02% annualized vs +7.08%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DWAS has been the more volatile fund, with annualized monthly volatility of 21.3% compared with 14.6% for VYM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -46.2% for DWAS and -58.8% for VYM. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DWAS charges 0.60% per year while VYM charges 0.04%. On a $10,000 position that is $60 vs $4 annually, a gap of $56 per year that compounds over a long holding period. On income, DWAS currently yields 0.00% against 2.86% for VYM.
Holdings Overlap
DWAS and VYM share 15 holdings out of 742 unique holdings combined, representing a 0.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DWAS or VYM?
DWAS has an expense ratio of 0.60% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
Which performed better, DWAS or VYM?
Over the past year DWAS returned +36.48% vs +25.99% for VYM, so DWAS leads on 1-year performance. Over the longest common window we track (14 years), DWAS annualized +12.02% vs +7.08% for VYM. Past performance does not guarantee future results.
Which is riskier, DWAS or VYM?
DWAS has been the more volatile fund at 21.3% annualized versus 14.6% for VYM. Worst drawdown: DWAS -46.2% vs VYM -58.8%.
Should I hold both DWAS and VYM?
DWAS and VYM have a monthly-return correlation of 0.73, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DWAS and VYM?
DWAS and VYM share 15 common holdings with a 0.3% weight overlap. Combined, they hold 742 unique securities.
Which pays a higher dividend, DWAS or VYM?
DWAS yields 0.00% while VYM yields 2.86%, so VYM currently pays the higher dividend yield.
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