ATLASInvesco Dorsey Wright SmallCap Momentum ETF (DWAS): outlook, holdings and fees
Invesco Dorsey Wright SmallCap Momentum ETF (DWAS) is an exchange-traded fund and is managed by Invesco. The expense ratio is 0.57% and the yield is 0.03%. The ten largest holdings are 13% of the fund.
Fund data as of Oct 14, 2026 · Price Nov 2, 2026
ATLAS view on DWAS
| Last price | $104.63 (-2.6%) |
|---|---|
| ATLAS chance of a higher price in 1 month | 52% |
| Likely 1-month range (50%) | $100.75 – $109.41 |
| Normal 1-day range (±1σ) | ±1.4% |
| Distribution yield | 0.03% |
ATLAS probabilities use the same calibrated model as every stock page. A fair value is shown for companies, not funds; the holdings below link to the fair value of each company.
DWAS fund facts
| Issuer | Invesco |
|---|---|
| Theme | Factor strategies |
| Assets under management | $390M |
| Expense ratio | 0.57% |
| Number of holdings | 50 |
| Portfolio turnover | 188% |
| Inception | Jul 19, 2012 |
| Exchange | NASDAQ |
The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The underlying index is composed of approximately 200 securities from an eligible universe of approximately 2,000 securities ranked 1,001 to 3,000 by market capitalization within the NASDAQ US Benchmark Index".
DWAS top holdings
| Holding | Sector | Weight |
|---|---|---|
| Amneal Pharmaceuticals, Inc. Class A Common Stock AMRX | Healthcare | 1.59% |
| Brightsphere Investment Group Inc BSIG | Financial Services | 1.44% |
| Frequency Electronics Inc FEIM | Technology | 1.48% |
| Aehr Test Systems AEHR | Technology | 1.43% |
| Alto Neuroscience, Inc. ANRO | Healthcare | 1.31% |
| Semtech Corporation SMTC | Technology | 1.32% |
| Victory Capital Holdings Inc VCTR | Financial Services | 1.20% |
| Oruka Therapeutics, Inc. ORKA | Healthcare | 1.18% |
| Adaptive Biotechnologies Corp ADPT | Healthcare | 1.24% |
| Replimune Group Inc REPL | Healthcare | 1.22% |
Holdings with an ATLAS page link to their probability range, fair value and earnings calendar.
DWAS sector breakdown
| Sector | Weight |
|---|---|
| Healthcare | 40.1% |
| Financial Services | 18.0% |
| Technology | 13.8% |
| Industrials | 10.5% |
| Consumer Cyclicals | 6.1% |
| Energy | 5.2% |
| Communication Services | 2.6% |
| Basic Materials | 1.9% |
| Consumer Defensive | 1.0% |
| Real Estate | 0.8% |
By region: North America 98.6%, Latin America 0.8%, Europe Developed 0.3%, United Kingdom 0.3%.
DWAS returns and risk
| Year to date | +8.3% |
|---|---|
| 1 year | +10.5% |
| 3 years (annualised) | +14.5% |
| 5 years (annualised) | +3.5% |
| 10 years (annualised) | +11.2% |
| Volatility (3 years) | 23.6% |
| Sharpe ratio (3 years) | 0.48 |
Past returns do not guarantee future results.
DWAS: frequently asked questions
What does DWAS invest in?
Invesco Dorsey Wright SmallCap Momentum ETF invests in a portfolio of securities. Its largest holdings are Amneal Pharmaceuticals, Inc. Class A Common Stock (1.6%), Brightsphere Investment Group Inc (1.4%), Frequency Electronics Inc (1.5%), Aehr Test Systems (1.4%), Alto Neuroscience, Inc. (1.3%).
What is the DWAS expense ratio?
0.57% a year: about $57.00 for every $10,000 invested.
What is the DWAS dividend yield?
0.03%. ATLAS does not hold the exact distribution dates for ETFs.
Will DWAS go up?
Nobody can know. The ATLAS model puts the chance of a higher price in one month at 52%, with a likely range (50%) of $100.75 to $109.41 from $104.63 today. It is a probability, not a prediction.
How has DWAS performed?
Year to date +8.3%, one year +10.5%, three years +14.5% a year, five years +3.5% a year. Past returns do not guarantee future results.
Similar ETFs: Factor strategies
- iShares MSCI Intl Quality Factor ETF (IQLT)
- Invesco S&P MidCap Momentum ETF (XMMO)
- Invesco S&P MidCap Quality ETF (XMHQ)
- Invesco Russell 1000 Dynamic Multifactor ETF (OMFL)
- iShares MSCI Intl Momentum Factor ETF (IMTM)
- Invesco S&P SmallCap Momentum ETF (XSMO)
- Invesco S&P 100 Equal Weight ETF (EQWL)
- Fidelity Small-Mid Multifactor ETF (FSMD)
Educational information, not investment advice. Disclaimer