Key stats
About Invesco Dorsey Wright SmallCap Momentum ETF
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Inception date
Jul 19, 2012
Structure
Open-Ended Fund
Replication method
Physical
Dividend treatment
Distributes
Distribution tax treatment
Qualified dividends
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Invesco Capital Management LLC
Distributor
Invesco Distributors, Inc.
ISIN
US46138E8425
DWAS offers a technical take on US small-caps, differentiating it from the large field of competing ETFs. The fund aims to outperform standard market cap-weighted ETFs using relative price trends as interpreted by Dorsey Wright, rather than market value or fundamental attributes. DWAS selects just 200 stocks for its portfolio each quarter, which makes it far more concentrated than rivals like IWM, which holds nearly 2,000 small-caps. The resulting portfolio can vary greatly from vanilla ETFs in both holdings and performance, and tilts toward small- and micro-caps compared to our benchmark. The fund uses a full replication indexing strategy, meaning DWAS will generally invest in all of the stocks of the underlying index and in proportion to the weightings. Investors should consider all-in costs of holding the fund. The index is reconstituted and rebalanced quarterly. Prior to August 28, 2023, the fund traded under the name Invesco DWA SmallCap Momentum ETF.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Finance
Health Technology
Electronic Technology
Stocks100.00%
Finance22.22%
Health Technology12.88%
Electronic Technology10.28%
Technology Services9.56%
Producer Manufacturing8.32%
Industrial Services8.15%
Retail Trade5.41%
Commercial Services4.93%
Consumer Services4.25%
Consumer Durables3.42%
Non-Energy Minerals1.83%
Health Services1.67%
Process Industries1.54%
Communications1.28%
Consumer Non-Durables1.17%
Miscellaneous1.09%
Energy Minerals0.81%
Distribution Services0.74%
Transportation0.43%
Bonds, Cash & Other0.00%
Mutual fund0.00%
Stock breakdown by region
North America99.12%
Europe0.88%
Latin America0.00%
Asia0.00%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
DWAS invests in stocks. The fund's major sectors are Finance, with 22.22% stocks, and Health Technology, with 12.88% of the basket. The assets are mostly located in the North America region.
DWAS top holdings are Claritev Corporation Class A and Sterling Infrastructure, Inc., occupying 1.62% and 1.57% of the portfolio correspondingly.
DWAS last dividends amounted to 0.01 USD. The quarter before, the issuer paid 0.05 USD in dividends, which shows a 424.20% decrease.
DWAS assets under management is 696.51 M USD. It's risen 6.15% over the last month.
DWAS fund flows account for −233.28 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, DWAS pays dividends to its holders with the dividend yield of 0.73%. The last dividend (Jun 27, 2025) amounted to 0.01 USD. The dividends are paid quarterly.
DWAS shares are issued by Invesco Ltd. under the brand Invesco. The ETF was launched on Jul 19, 2012, and its management style is Passive.
DWAS expense ratio is 0.60% meaning you'd have to pay 0.60% of your investment to help manage the fund.
DWAS follows the Dorsey Wright SmallCap Tech Leaders Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
DWAS invests in stocks.
DWAS price has risen by 7.63% over the last month, and its yearly performance shows a −2.65% decrease. See more dynamics on DWAS price chart.
NAV returns, another gauge of an ETF dynamics, showed a 9.68% increase in three-month performance and has decreased by −0.97% in a year.
NAV returns, another gauge of an ETF dynamics, showed a 9.68% increase in three-month performance and has decreased by −0.97% in a year.
DWAS trades at a premium (0.06%) meaning the ETF is trading at a higher price than the calculated NAV.