DWAS components have an average market value of just over $1.9 billion and about 72% of the fund’s holdings are classified as small- and mid-cap growth names.
When the economy is doing well and the markets rally, we see sentiment for more nimble smaller companies improve and outperform those of their more languorous, larger peers. Indeed, DWAS tilts toward cyclical fare at the sector level. The financial services, industrial and technology sectors combine for about half the ETF’s weight. Healthcare is the ETF’s largest sector exposure at 30.30%, but smaller healthcare companies are usually growth fare and not as defensive as their large-cap counterparts.
DWAS turns six in July and has $282.3 million in assets under management.
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