Dorsey Wright and Associates

What Dorsey Wright and Associates does

Dorsey Wright and Associates, operating as Nasdaq Dorsey Wright since its 2015 acquisition by Nasdaq, Inc., is a registered investment advisory firm headquartered in Richmond, VA that specializes in Point & Figure charting and Relative Strength analysis — a rules-based technical methodology for identifying securities exhibiting superior relative performance versus peers. The firm was founded in the early 1990s and has refined its proprietary methodology for over 30 years, building coverage of 50,000+ stocks, ETFs, and mutual funds on the Nasdaq Dorsey Wright Research Platform. Core products include the research platform (with a freemium Foundation tier and premium Nasdaq+ subscription), the Systematic Relative Strength family of separately managed account (SMA) and unified managed account (UMA) strategies (Core, Aggressive, Growth, International, Balanced, Global Macro), and proprietary indexes such as the Dorsey Wright Technical Leaders Index (DWTL) and Dorsey Wright Focus Five Index (DWANQFF).

The business operates three parallel revenue streams. Index licensing to leading ETF and mutual fund providers (First Trust, Invesco, ProShares, AdvisorShares, Arrow) generates royalty income tied to linked AUM across 30+ investment products including PDP, PTF, DWAS, FV, DDIV, PIE, and DALI. Managed account strategies distributed through 15+ SMA/UMA advisor platforms provide recurring asset-based fees. The research platform serves 7,000+ financial advisors and individual investors through freemium and paid subscription tiers. Distribution leverages Nasdaq's global brand and infrastructure, supplemented by educational content (whitepapers, webinars, video series), podcast/media appearances, and indirect marketing through fund providers. Tom Dorsey serves as CEO and President.

Name

Dorsey Wright and Associates

Legal name

Nasdaq Dorsey Wright

Website

https://dorseywright.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

Nasdaq Dorsey Wright is a Richmond, VA-based investment advisory firm that licenses its proprietary Relative Strength and Point & Figure methodology to ETF issuers (First Trust, Invesco, ProShares), distributes SMA/UMA strategies across 15+ platforms, and serves 7,000+ financial advisors via its research platform.

Ownership category

akta.pro rank

Product category

Investment Research & Analytics

NAICS

Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282)

akta.pro primary industry

Portfolio Management–Led RIAs (Discretionary/Model-Based) (FSAAACAC)

akta.pro secondary industries

Quant Research & Systematic Strategies (FSACAGAF), Strategy & Thematic Research (FSACAGAG)

Keywords

• Technical analysis
• Relative strength
• Investment research
• Managed accounts
• Momentum investing

Headquarters

HQ city

Richmond

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Index Licensing: Nasdaq Dorsey Wright licenses its proprietary relative strength indexes to ETF and mutual fund providers including First Trust, Invesco, and ProShares. There are over 30 investment products linked to Nasdaq Dorsey Wright indexes including Dorsey Wright Technical Leaders Index, Dorsey Wright Focus Five Index, and DWA Technical Leaders Small Cap Index.
2. Managed Account Strategies: Systematic Relative Strength family of investment strategies available as separately managed accounts (SMAs) and/or unified managed accounts (UMAs) on over 15 platforms, providing professional portfolio management with long-term outperformance focus
3. Research Platform Subscription: Nasdaq Dorsey Wright Research Platform with Foundation tier offering free essential tools, and premium access through Nasdaq+ subscription for full research capabilities, detailed data sets, and trade insights

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

Provides Point & Figure technical analysis and Relative Strength research through a research platform, systematic managed account strategies, and proprietary indexes licensed to ETF providers. Serves financial advisors, asset managers, and institutional investors with systematic relative-strength methodologies built over more than 35 years.

Product overview

Nasdaq Dorsey Wright (formerly Dorsey Wright and Associates) offers a unified platform combining a research platform with managed account strategies and over 30 index-linked investment products. The core offering includes the Nasdaq Dorsey Wright Research Platform providing technical analysis tools with 50,000+ security charts and Relative Strength models, complemented by Systematic Relative Strength managed account strategies (available as SMAs/UMAs on 15+ platforms), and a suite of ETFs tracking Dorsey Wright indexes across broad U.S. equity, sector-specific (technology, healthcare, energy, etc.), international, and multi-asset categories. The products are distributed through partnerships with First Trust, Invesco, ProShares, AdvisorShares, and Arrow, with 100+ model portfolios available for advisors.

Differentiator

Problem solved

Functional benefit

Brands

• NDW Research Platform: A research platform providing over 50,000 security charts, daily market insights, and Relative Strength models for investment decision-making.
• Systematic Relative Strength

Products and services

• Nasdaq Dorsey Wright Research Platform Subscription research platform providing Point & Figure charts, Relative Strength rankings, sector and industry analytics, and allocation models used by financial advisors, RIAs, and asset managers to support tactical asset allocation and market timing decisions.
• Dorsey Wright Indexes Proprietary family of Relative Strength- and Point & Figure-based indexes licensed to ETF sponsors and asset managers for use as the basis of factor, smart-beta, and tactical asset allocation investment products.
• Systematic Relative Strength Managed Account Strategies Rules-based separately managed account (SMA) and unified managed account (UMA) strategies applying Dorsey Wright's Relative Strength methodology to portfolio construction across equities, sectors, and asset classes.
• Model Portfolios and Allocation Models Pre-built allocation and model portfolio frameworks based on Relative Strength rankings, designed to be implemented or customized by advisors, SMA programs, and wealth management platforms.

Quantifiable outcome

• Systematic Relative Strength Core strategy available as separately managed accounts on 15+ platforms
• +1 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered major, core and strategic.

• RiverFront Investment GroupmajorStrategic or Co-development Partner · 3 November 2021Nasdaq Dorsey Wright and RiverFront Investment Group combined expertise to develop two new investment strategies blending fundamental and technical disciplines: RiverFront DWA Fusion Large Cap Portfolio and RiverFront DWA Fusion Small Cap Portfolio.
• First TrustcoreTechnology or IntegrationFirst Trust is a flagship partner licensing Nasdaq Dorsey Wright relative strength methodology to create ETFs including Dorsey Wright Focus 5 ETF (FV), First Trust Dorsey Wright Momentum & Dividend ETF (DDIV), First Trust Dorsey Wright Momentum & Value ETF (DVLU), First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC), and First Trust Dorsey Wright International Focus 5 ETF (IFV). First Trust is one of the largest ETF providers using Nasdaq Dorsey Wright indexes.
• InvescocoreTechnology or IntegrationInvesco licenses Nasdaq Dorsey Wright methodology for multiple ETFs including Invesco Dorsey Wright Technology Momentum ETF (PTF), Invesco Dorsey Wright SmallCap Momentum ETF (DWAS), and sector-specific momentum ETFs covering basic materials, consumer cyclicals, consumer staples, energy, financials, healthcare, industrials, utilities. PTF has demonstrated strong performance with 21% average annualized returns since 2006 launch.
• ProSharesmajorTechnology or IntegrationProShares offers ETFs tracking Nasdaq Dorsey Wright indexes, expanding the ecosystem of products using the proprietary relative strength methodology.
• NasdaqcoreOthersNasdaq Dorsey Wright is a business unit of Nasdaq, Inc., operating within Nasdaq Global Indexes. This parent-subsidiary relationship provides Nasdaq Dorsey Wright with Nasdaq's brand equity, global distribution, technological infrastructure, and regulatory relationships.
• Salt FinancialstrategicStrategic or Co-development PartnerNasdaq entered into a strategic collaboration with Salt Financial to introduce Nasdaq-100 Volatility Control Indexes, complementing the index ecosystem.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• FactSet: FactSet provides investment data, analytics, and research workflow tools used by advisors and asset managers, partially overlapping Dorsey Wright's research platform functionality. While broader in scope, it competes for the same advisor technology wallet and screen-building use cases.
• MSCI: MSCI is a leading global index provider whose factor, ESG, and thematic indexes are licensed to the same ETF and asset manager clients Dorsey Wright serves. It competes on breadth of asset class coverage and enterprise relationships, and represents the most analogous large-scale index licensing business model to Dorsey Wright's.
• FTSE Russell: FTSE Russell (part of LSEG) provides benchmark, factor, and smart-beta indexes licensed to ETF issuers and asset managers worldwide. It competes directly for momentum and factor index licensing mandates alongside Dorsey Wright's relative strength methodology.
• S&P Dow Jones Indices: S&P Dow Jones Indices is the dominant global index licensing franchise, offering benchmark and factor indexes licensed to ETF issuers including many of Dorsey Wright's same counterparties (e.g., Invesco, First Trust). It competes for the same licensing economics that drive Dorsey Wright's index revenue stream, though at much broader scale across asset classes.
• Morningstar Indexes: Morningstar Indexes licenses factor, style, and thematic indexes to ETF issuers and offers investment research tools that overlap with Dorsey Wright's research platform offering. It is comparable on the investment research and analytics side as well as index licensing.
• Bloomberg Intelligence: Bloomberg Intelligence delivers investment research, market data, and analytics to institutional and advisor clients. It overlaps Dorsey Wright's research platform at the high end of the market, with substantially broader coverage and a more enterprise-focused sales motion.

Direct peers

• TradingView: TradingView is a charting and technical analysis platform providing Point & Figure, relative strength, and indicator-based tools to retail and advisor users globally. It is directly comparable to Dorsey Wright's research platform charting and screening functionality, with a freemium SaaS model.
• Ned Davis Research: Ned Davis Research is a technical and quantitative research provider offering market analysis, model portfolios, and relative strength-style strategies to institutional and advisor clients. It is the closest direct peer to Dorsey Wright's research platform and managed account strategy business.

Emerging players

• AQR Capital Management: AQR is a systematic asset manager whose factor and managed account strategies (momentum, value, multi-asset) overlap with Dorsey Wright's Systematic Relative Strength SMA/UMA family. It competes for the same advisor platform distribution slots and institutional factor mandates.
• O'Shaughnessy Asset Management: O'Shaughnessy Asset Management runs rules-based quantitative strategies and licensed factor indexes (e.g., O'Shaughnessy Market Leaders Value), directly comparable to Dorsey Wright's relative strength model portfolios and managed account strategies targeted at financial advisors.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/dorseywrightDWA
• Facebookfacebook.com/237440563008602
• LinkedInlinkedin.com/company/nasdaqdorseywright

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dorsey Wright and Associates