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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.52

$33.5 M

0.00%

2.92%

Vitals

YTD Return

8.6%

1 yr return

13.5%

3 Yr Avg Return

1.4%

5 Yr Avg Return

5.5%

Net Assets

$33.5 M

Holdings in Top 10

71.0%

52 WEEK LOW AND HIGH

$10.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.92%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 112.00%

Redemption Fee 1.00%


Min Investment

Standard (Taxable)

$5,000

IRA

$2,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.52

$33.5 M

0.00%

2.92%

DWATX - Profile

Distributions

  • YTD Total Return 8.6%
  • 3 Yr Annualized Total Return 1.4%
  • 5 Yr Annualized Total Return 5.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -1.51%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Arrow DWA Tactical: Balanced Fund
  • Fund Family Name
    Arrow Funds
  • Inception Date
    Aug 07, 2006
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jonathan Guyer

Fund Description

The Fund primarily invests, either directly or indirectly through investments in exchange traded funds (“ETFs”) or other investment companies (including affiliated funds), in (i) equity securities, (ii) fixed income securities, or (iii) alternative assets. The Fund defines equity securities to include common and preferred stocks; and defines fixed income securities to include bonds, notes, debentures and bond futures; and defines alternative assets to include currency; options on currency, equity and commodity futures; derivative instruments, such as swap contracts, structured notes or other securities or derivatives, that provide exposure to managed futures programs employed by limited partnerships, corporations operating as investment funds, and limited liability companies (“Underlying Funds”); commodities; master limited partnerships (“MLPs”); and real estate-related securities. The Fund may invest up to 25% of its total assets in a wholly-owned and controlled subsidiary (the “DWA Balanced Subsidiary”).

The DWA Balanced Subsidiary will invest primarily in long commodity futures and options, Underlying Funds, and swap contracts, as well as fixed income securities and other investments intended to serve as margin or collateral for the DWA Balanced Subsidiary’s derivative positions. When viewed on a consolidated basis, the DWA Balanced Subsidiary is subject to the same investment restrictions as the Fund. The Fund will consolidate the DWA Balanced Subsidiary for purposes of financial statements, leverage and concentration.

Arrow Investment Advisors, LLC (the “Advisor”) allocates the Fund’s portfolio among four market segments:

· U.S. Equity, including sectors such as consumer goods, energy and healthcare as well as styles such as large cap growth and small cap value;
· International Equity, including developed market countries such as Japan and emerging market countries such as Malaysia;
· Fixed Income, such as U.S. Treasury or corporate bonds of any credit quality; and
· Alternative Assets, such as commodities, futures, swaps, MLPs and real estate.

The Advisor allocates the Fund’s portfolio using research from Dorsey Wright & Associates (“DWA”), which comes from the DWA Balanced investment model (the “DWA Balanced model”), as well as the Advisor’s proprietary methodology. The DWA Balanced model is based on a technical analysis of historical price and return forecasts. Technical analysis is the method of evaluating securities by analyzing statistics generated by market activity, such as past prices and trading volume, in an effort to determine probable future prices. The Advisor buys securities and derivatives that it believes will produce returns that are highly correlated to the returns of the components of the DWA Balanced model. The Advisor sells securities and derivatives to purchase other securities and derivatives that it believes will have higher returns or more closely correlate to the returns of the components of the DWA Balanced model. The Fund invests in securities without restriction as to capitalization, credit quality or country.

To maintain a balanced portfolio, the Fund will, under normal circumstances, invest:

· from 25% to 70% in equity securities, including international and domestic equity securities;
· from 25% to 60% in fixed income securities of any maturity and credit quality; and
· from 10% to 50% in alternative assets, including through the DWA Balanced Subsidiary.

The Fund will invest within specific market segments when the research indicates a high probability that the applicable market segments are likely to outperform the applicable universe. The Fund will sell interests or reduce investment exposure among a market segment when the research indicates that such markets are likely to underperform the applicable universe. The Fund may be heavily invested in fixed-income securities, cash positions and similar securities when the research indicates these assets should significantly outperform the equity and/or alternative market segments. The Fund’s fixed income securities may be rated below investment grade (rated BB+ or lower by S&P or comparably rated by another nationally recognized statistical rating organization (“NRSRO”)), also known as “high-yield” or “junk” bonds, and in unrated debt securities determined by the Advisor to be of comparable quality. The alternative asset market segment refers to investments that are historically non-correlated to either equity or fixed income investments such as commodities, MLPs or real estate.

In general, the Fund’s investments in equity securities are intended to achieve the capital appreciation component of its investment objective and the Fund’s investments in fixed income securities are intended to achieve the capital preservation component of its investment objective. Under normal circumstances, the Advisor expects that the Fund will invest a combined minimum of 35% in fixed income securities and in alternative investments. The Fund’s investments in alternative assets are intended to enable the portfolio to be less reliant on fixed income investments for reducing volatility and equities for increasing returns. The Advisor may engage in frequent buying and selling of portfolio securities to achieve the Fund’s investment objective.

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DWATX - Performance

Return Ranking - Trailing

Period DWATX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.6% -0.9% 17.8% 15.86%
1 Yr 13.5% -2.2% 75.0% 42.92%
3 Yr 1.4%* -22.7% 10.8% 60.89%
5 Yr 5.5%* -11.4% 20.9% 36.84%
10 Yr 2.6%* -4.6% 9.9% 79.71%

* Annualized

Return Ranking - Calendar

Period DWATX Return Category Return Low Category Return High Rank in Category (%)
2023 -2.9% -18.9% 60.2% 96.92%
2022 -10.9% -48.5% 0.1% 16.74%
2021 -1.6% -19.0% 48.3% 72.12%
2020 6.6% -16.5% 52.8% 46.98%
2019 9.0% -8.5% 27.3% 65.24%

Total Return Ranking - Trailing

Period DWATX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.6% -0.9% 17.8% 15.86%
1 Yr 13.5% -2.2% 75.0% 42.92%
3 Yr 1.4%* -22.7% 10.8% 60.89%
5 Yr 5.5%* -11.4% 20.9% 36.84%
10 Yr 2.6%* -4.6% 9.9% 79.71%

* Annualized

Total Return Ranking - Calendar

Period DWATX Return Category Return Low Category Return High Rank in Category (%)
2023 0.5% -11.7% 61.8% 93.39%
2022 -5.9% -48.5% 4.6% 6.61%
2021 3.8% -14.2% 48.3% 88.05%
2020 20.3% -11.7% 77.4% 14.88%
2019 10.0% -3.9% 30.2% 77.62%

NAV & Total Return History


DWATX - Holdings

Concentration Analysis

DWATX Category Low Category High DWATX % Rank
Net Assets 33.5 M 1.67 M 13.2 B 81.22%
Number of Holdings 122 2 1954 31.88%
Net Assets in Top 10 24.1 M 1.26 M 10.4 B 80.35%
Weighting of Top 10 71.04% 0.4% 149.2% 54.15%

Top 10 Holdings

  1. ISHARES 1-3 YEAR TREASURY 19.98%
  2. ARROW DWA COUNTR 16.08%
  3. FRST AM-GV OB-X 14.45%
  4. JPMORGAN ALERIAN MLP INDE 5.35%
  5. ISHARES TIPS BOND ETF 4.97%
  6. VANGUARD GROWTH ETF 3.51%
  7. ARROW REVERSE CA 3.34%
  8. FRST AM-GV OB-X 1.42%
  9. MOLSON COORS-B 0.98%
  10. CDW CORP/DE 0.97%

Asset Allocation

Weighting Return Low Return High DWATX % Rank
Stocks
80.08% 0.00% 137.56% 55.02%
Cash
20.16% -33.22% 99.05% 27.07%
Convertible Bonds
0.07% 0.00% 8.92% 46.72%
Preferred Stocks
0.00% 0.00% 5.36% 64.63%
Bonds
0.00% 0.00% 106.59% 73.36%
Other
-0.09% -29.71% 128.17% 87.34%

Stock Sector Breakdown

Weighting Return Low Return High DWATX % Rank
Industrials
22.34% 0.00% 23.85% 4.62%
Financial Services
20.44% 0.00% 98.22% 9.23%
Technology
18.99% 0.00% 85.77% 36.92%
Consumer Cyclical
8.04% 0.00% 25.83% 53.33%
Basic Materials
7.11% 0.00% 56.73% 17.44%
Real Estate
6.65% 0.00% 99.45% 26.15%
Consumer Defense
4.50% 0.00% 37.51% 72.82%
Energy
4.31% 0.00% 60.89% 57.95%
Healthcare
3.95% 0.00% 38.63% 83.08%
Communication Services
2.58% 0.00% 21.61% 71.28%
Utilities
1.09% 0.00% 91.12% 75.90%

Stock Geographic Breakdown

Weighting Return Low Return High DWATX % Rank
US
80.08% 0.00% 137.56% 50.66%
Non US
0.00% -1.94% 41.50% 66.81%

DWATX - Expenses

Operational Fees

DWATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.92% 0.49% 5.81% 11.35%
Management Fee 0.90% 0.00% 1.50% 54.15%
12b-1 Fee 1.00% 0.00% 1.00% 90.07%
Administrative Fee N/A 0.05% 0.70% 70.20%

Sales Fees

DWATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

DWATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 0.50% 2.00% 70.97%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

DWATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 112.00% 1.75% 441.00% 56.45%

DWATX - Distributions

Dividend Yield Analysis

DWATX Category Low Category High DWATX % Rank
Dividend Yield 0.00% 0.00% 24.73% 13.54%

Dividend Distribution Analysis

DWATX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Quarterly Annual

Net Income Ratio Analysis

DWATX Category Low Category High DWATX % Rank
Net Income Ratio -1.51% -2.01% 13.72% 97.38%

Capital Gain Distribution Analysis

DWATX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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DWATX - Fund Manager Analysis

Managers

Jonathan Guyer


Start Date

Tenure

Tenure Rank

Jul 31, 2014

7.84

7.8%

Jonathan Guyer joined Arrow Investment Advisors, LLC in October 2013 after spending seven years with Longview Funds Management, LLC. During his tenure at Longview, he served the Principal, Director of Research and Chief Investment Officer of the firm. Mr. Guyer received a Bachelor of Science degree in Business Administration from the University of Northc Carolina - Wilmington in 1985. Mr. Guyer worked in the audit field as a seniro audit manager for commercial banks and trust companies from 1986 until 1994, when he decided to focus on investment management. From May 1995 to December 2001, Mr. Guyer was the head of the Proprietary Hedge Fund Group of Alex. Brown & Sons, Inc. ("DBAB"). From February 2001 to April 2006 Mr. Guyer was the head of the Alternative Investment Group of Legg Mason Wood Walker Incorporated ("LMWW"). Founded in 1800, Alex. Brown & Sons, Inc. was a Baltimore based investment bank acquired by Bankers Trust in 1997 and again acquired by Deutsche Bank in 1999. LMWW, also headquartered in Baltimore, MD, was a broker/dealer acquired by Citigroup Capital Markets Inc. in 2006. Mr. Guyer is a financial professional with significant, broad-based experience in alternative investments, including active portfolio management and trading, manager selection and due diligence, marketing and fund administration.

Joseph Barrato


Start Date

Tenure

Tenure Rank

Jul 31, 2014

7.84

7.8%

Joseph Barrato is a founding member of Arrow Investment Advisors, LLC. He has over 20 years of experience in the investment management industry, including six years with Rydex Investments, where he was responsible for the firm’s research and developed momentum models with the Rydex sector funds. Prior to Rydex, Mr. Barrato spent 12 years at the Federal Reserve Board of Governors, as an analyst and senior financial examiner. He holds a bachelor's degree in business administration from The George Washington University, where he majored in finance and minored in accounting. Mr. Barrato’s experience in the investment management industry gives him a strong understanding of the operational issues facing mutual funds and the regulatory framework under which investment companies must operate. Mr. Barrato has served as an Interested Trustee and the Chairman of the Board since the Trust was organized in August 2011.

Amit Gutt


Start Date

Tenure

Tenure Rank

Dec 01, 2020

1.5

1.5%

Amit Gutt, CFA has been a Portfolio Manager for the ArrowFund since June 2020. Amit joined Arrow Investment Advisors, LLC in August 2014 as an Investment Strategist. In that role, he was responsible for performing quantitative research, portfolio management and trading across multiple asset classes. Prior to joining Arrow, Amit worked as a Summer Associate in emerging markets equity research at KAUST Investment Management and as a Statistician at the United States Department of Commerce from 2009 to 2012. Amit holds a B.S. in Financial Economics from University of Maryland Baltimore County, a Master of Arts in Applied Economics from Johns Hopkins University and an MBA in Finance from the NYU Stern School of Business. Amit is also a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.83 6.59 13.0