# Invesco Dorsey Wright SmallCap Momentum ETF (DWAS): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/dwas for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Invesco · Asset class: Equity - Strategy: Passive Index · Inception: 2012-07-19 The Invesco Dorsey Wright SmallCap Momentum ETF seeks to track the performance of the Dorsey Wright SmallCap Technical Leaders Index. This fund typically invests at least 90% of its total assets in equity securities of small-capitalization companies that comprise this index. The index itself consists of approximately 200 companies chosen from the NASDAQ US Benchmark Index through a proprietary selection methodology from Dorsey, Wright & Associates, LLC. This process identifies companies demonstrating strong relative strength based on their market performance. Both the fund and the index und... ## Key Facts | Metric | Value | |---|---| | Price | $104.44 | | Expense Ratio | 0.60% | | Assets Under Management | $388.6M | | NAV | $104.47 | | Holdings Count | 201 | | Distribution Yield (TTM) | 0.03% | | Annual Distribution (TTM) | $0.04 /share | | Distribution Frequency | Annual | | 52-Week Range | $88.62 – $127.77 | | Beta | 1.17 | ## Latest Distribution - Amount: $0.0354 /share - Ex-date: 2026-09-21 - Pay date: 2026-09-25 ## Frequently Asked Questions ### What does DWAS invest in? The Invesco Dorsey Wright SmallCap Momentum ETF seeks to track the performance of the Dorsey Wright SmallCap Technical Leaders Index. This fund typically invests at least 90% of its total assets in equity securities of small-capitalization companies that comprise this index. The index itself consists of approximately 200 companies chosen from the NASDAQ US Benchmark Index through a proprietary selection methodology from Dorsey, Wright & Associates, LLC. This process identifies companies demonstrating strong relative strength based on their market performance. Both the fund and the index undergo rebalancing and reconstitution on a quarterly basis. It's also important to note that, effective after the market close on August 25, 2023, the fund's name transitioned from Invesco DWA SmallCap Momentum ETF to its current name, Invesco Dorsey Wright SmallCap Momentum ETF, with no other alterations made to the fund. ### What is the expense ratio of DWAS? Invesco Dorsey Wright SmallCap Momentum ETF (DWAS) charges an expense ratio of 0.60%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is DWAS? Invesco Dorsey Wright SmallCap Momentum ETF (DWAS) manages $388.6M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is DWAS actively managed or an index fund? DWAS is a passive index fund. It tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (DWAS's is 0.60%) because there's no security selection cost. ### When was DWAS launched? Invesco Dorsey Wright SmallCap Momentum ETF (DWAS) launched in July 2012 and is managed by Invesco. ### How has DWAS performed? DWAS's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does DWAS pay a dividend? Invesco Dorsey Wright SmallCap Momentum ETF (DWAS) currently distributes little or no income. Trailing-twelve-month yield is 0.03%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does DWAS pay dividends? Invesco Dorsey Wright SmallCap Momentum ETF pays dividends Annual. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is DWAS's dividend yield? DWAS's trailing-twelve-month yield is 0.03%, calculated from the sum of dividends over the past year divided by the current price. ### When is DWAS's next ex-dividend date? The most recently announced ex-dividend date for DWAS was 2026-09-21. The next ex-date typically follows Annual; once announced it appears at the top of the dividend history table on this page. ### How much will DWAS's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.60% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does DWAS charge its expense ratio? The expense ratio is deducted in tiny daily slices from DWAS's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does DWAS cost more than a fund like VOO? DWAS is a passive index fund (current expense ratio 0.60%). Differences from broad-market ETFs like VOO usually come from index licensing fees, asset class (bond funds typically run cheaper than equity), or fund scale (smaller funds spread fixed operating costs across less AUM). ### Are there cheaper alternatives to DWAS? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as DWAS (0.60%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/dwas - Distribution history: https://www.dividenddata.com/funds/dwas/dividend - Holdings & diversification: https://www.dividenddata.com/funds/dwas/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/dwas/expenses - Peer comparison: https://www.dividenddata.com/funds/dwas/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.