AdvisorShares Dorsey Wright FSM U.S. Core ETF
DWUS
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- AdvisorShares Dorsey Wright FSM US Core ETF (DWUS) is an actively managed exchange-traded fund that tactically allocates to the highest-ranked large-cap U.S. equity ETFs within the FSM U.S. Core universe using Nasdaq Dorsey Wright's proprietary Fund Score Method (FSM), which evaluates trend analysis, market relative strength, and peer relative strength on a scale from 0 to 6; rotates on an equal-weight basis among the top two FSM-ranked funds such as iShares MSCI USA Momentum Factor ETF (MTUM), Invesco QQQ Trust (QQQ), Invesco S&P 500 Low Volatility ETF (SPLV), and others including broad market, equal weight, Nasdaq 100, low volatility, and momentum strategies; and employs a rules-based defensive mechanism to shift into cash or short-term fixed income during periods of negative market momentum to mitigate downside risk. The ETF targets domestic large-cap equity exposure across market-oriented styles and factors, serving as an alpha-seeking complement to broad-based S&P 500 index funds or a standalone core equity solution for investors seeking relative strength-driven outperformance. Launched on December 26, 2019, and listed on Nasdaq, DWUS is managed by Nasdaq Dorsey Wright, a Richmond, Virginia-based investment advisory firm specializing in technical analysis and relative strength since 1987, with portfolio oversight by AdvisorShares Investments, LLC, headquartered in Bethesda, Maryland. In the second quarter of 2025, DWUS executed a portfolio rebalance by selling its position in the SPDR S&P 500 ETF Trust (SPY) and acquiring the Invesco S&P 500 Low Volatility ETF (SPLV), resulting in a tilt toward large-cap momentum, low volatility equities, consumer staples, and financials while maintaining high relative strength characteristics versus the broad market. As of December 2025, the fund holds approximately 50% in MTUM and 49% in QQQ, with minimal cash exposure and assets under management exceeding $118 million. The strategy continues to demonstrate systematic rotation without structural changes, ongoing partnerships, acquisitions, or new product launches reported in the past 1-2 years.