DWSH vs SPY
AdvisorShares Dorsey Wright Short ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | DWSH | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 6.22% | 0.09% | |
| AUM | $6M | $821.1B | |
| Dividend Yield | 6.98% | 1.01% | |
| Holdings | 101 | 505 | |
| YTD Return | -15.76% | +12.71% | |
| 1Y Return | -13.89% | +20.53% | |
| 3Y Return (annualized) | -7.54% | +21.60% | |
| 5Y Return (annualized) | -4.92% | +12.79% | |
| Volatility (annualized) | 30.6% | 15.3% | |
| Max Drawdown | -84.4% | -56.5% | |
| Fund Family | Advisor Shares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jul 10, 2018 | Jan 22, 1993 |
DWSH vs SPY Performance
AdvisorShares Dorsey Wright Short ETF (DWSH) is a ETF from Advisor Shares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DWSH returned -13.89% while SPY returned +20.53%. Year to date, DWSH is down 15.76% versus a gain of 12.71% for SPY.
Over three years, DWSH compounded at -7.54% per year against +21.60% for SPY; over five years the annualized figures are -4.92% and +12.79% respectively. Across the full 8-year window we track, SPY has the edge at +8.80% annualized vs -14.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DWSH has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 15.3% for SPY. 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 -84.4% for DWSH and -56.5% for SPY. 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 -0.80. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DWSH charges 6.22% per year while SPY charges 0.09%. On a $10,000 position that is $622 vs $9 annually, a gap of $613 per year that compounds over a long holding period. On income, DWSH currently yields 6.98% against 1.01% for SPY.
Holdings Overlap
DWSH and SPY share 50 holdings out of 553 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DWSH or SPY?
DWSH has an expense ratio of 6.22% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $613 per year of difference.
Which performed better, DWSH or SPY?
Over the past year DWSH returned -13.89% vs +20.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (8 years), DWSH annualized -14.87% vs +8.80% for SPY. Past performance does not guarantee future results.
Which is riskier, DWSH or SPY?
DWSH has been the more volatile fund at 30.6% annualized versus 15.3% for SPY. Worst drawdown: DWSH -84.4% vs SPY -56.5%.
Should I hold both DWSH and SPY?
DWSH and SPY have a monthly-return correlation of -0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DWSH and SPY?
DWSH and SPY share 50 common holdings with a 0.0% weight overlap. Combined, they hold 553 unique securities.
Which pays a higher dividend, DWSH or SPY?
DWSH yields 6.98% while SPY yields 1.01%, so DWSH currently pays the higher dividend yield.
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