- ISIN
- US0427654043
- CUSIP
- 042765404
- Issuer
- Arrow Funds
- Inception Date
- Aug 6, 2006
- Category
- Tactical Allocation
- Min. Investment
- $5,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
DWAFX Performance Chart
Arrow DWA Tactical: Balanced Fund (DWAFX) is up 10.0% since the beginning of the year. DWAFX is currently trading at $13 per share. Investors who bought $1,000 worth of DWAFX shares 5 years ago would now be looking at an investment worth $1,294.
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Returns By Period
Arrow DWA Tactical: Balanced Fund (DWAFX) has returned 9.95% so far this year and 25.09% over the past 12 months. Over the last ten years, DWAFX has returned 6.23% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Arrow DWA Tactical: Balanced Fund
- 1D
- 0.15%
- 1M
- -1.00%
- YTD
- 9.95%
- 6M
- 9.12%
- 1Y
- 25.09%
- 3Y*
- 10.75%
- 5Y*
- 5.29%
- 10Y*
- 6.23%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
DWAFX Monthly Returns History
Based on dividend-adjusted daily data since Aug 9, 2006, DWAFX's average daily return is +0.02%, while the average monthly return is +0.43%. At this rate, an investment would double in approximately 13.5 years.
Historically, 61% of months were positive and 39% were negative. The best month was Sep 2007 with a return of +6.4%, while the worst month was Oct 2008 at -14.2%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 6 months.
On a daily basis, DWAFX closed higher 51% of trading days. The best single day was Oct 13, 2008 with a return of +5.5%, while the worst single day was Dec 29, 2014 at -11.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.02% | 4.05% | -4.20% | 5.52% | 1.31% | -1.75% | 9.95% | ||||||
| 2025 | 3.51% | -1.10% | -2.40% | 0.09% | 1.58% | 2.07% | 0.42% | 3.11% | 4.08% | 0.08% | 1.65% | 1.93% | 15.86% |
| 2024 | 0.83% | 4.96% | 2.97% | -2.97% | 1.31% | -0.86% | 1.31% | 0.86% | 1.88% | -3.02% | 3.37% | -4.55% | 5.79% |
| 2023 | 2.33% | -1.23% | -3.02% | 0.82% | -2.27% | 4.65% | 1.07% | -2.64% | -2.71% | -2.23% | 3.80% | 3.11% | 1.26% |
| 2022 | -2.33% | -1.40% | 5.75% | -1.18% | 1.04% | -6.55% | 0.42% | 0.08% | -5.71% | 5.70% | 2.19% | -2.65% | -5.30% |
| 2021 | -0.48% | 2.81% | -0.16% | 2.90% | 2.21% | -1.27% | -0.08% | 0.68% | -2.47% | 2.92% | -4.41% | 2.23% | 4.68% |
Benchmark Metrics
Arrow DWA Tactical: Balanced Fund has an annualized alpha of 0.27%, beta of 0.46, and R2 of 0.60 versus S&P 500 Index. Calculated based on daily prices since August 09, 2006.
- This fund participated in 66.29% of S&P 500 Index downside but only 52.79% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.46 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 0.27%
- Beta
- 0.46
- R²
- 0.60
- Upside Capture
- 52.79%
- Downside Capture
- 66.29%
Expense Ratio
DWAFX has a high expense ratio of 1.84%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
DWAFX ranks 64 for risk / return — better than 64% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Arrow DWA Tactical: Balanced Fund (DWAFX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DWAFX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.37 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 2.78 | +0.87 |
| Martin ratioReturn relative to average drawdown | 12.99 | 12.44 | +0.55 |
Dividends
Dividend History
Arrow DWA Tactical: Balanced Fund provided a 11.44% dividend yield over the last twelve months, with an annual payout of $1.48 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.48 | $1.48 | $0.02 | $0.48 | $0.67 | $0.62 | $1.49 | $0.24 | $0.97 | $0.93 | $0.00 | $0.70 |
Dividend yield | 11.44% | 12.58% | 0.13% | 4.45% | 6.02% | 4.94% | 11.89% | 2.07% | 9.09% | 7.24% | 0.00% | 5.70% |
Monthly Dividends
The table displays the monthly dividend distributions for Arrow DWA Tactical: Balanced Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.48 | $1.48 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 | $0.02 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.48 | $0.48 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.67 | $0.67 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.62 | $0.62 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Arrow DWA Tactical: Balanced Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Arrow DWA Tactical: Balanced Fund was 36.11%, occurring on Mar 9, 2009. Recovery took 520 trading sessions.
The current Arrow DWA Tactical: Balanced Fund drawdown is 2.85%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -36.11%Mar 2009 | 1y 4mo | 2y 21d | 3y 5moNov 2007 - Mar 2011 |
2016 bear market2016 | -21.16%Feb 2016 | 1y 2mo | 1y 11mo | 3y 1moNov 2014 - Jan 2018 |
Rate-hike selloffLate 2018 | -18.39%Dec 2018 | 10mo 29d | 1y 6mo | 2y 5moJan 2018 - Jul 2020 |
2023 correction2023 | -14.26%Oct 2023 | 1y 11mo | 4mo 26d | 2y 4moNov 2021 - Mar 2024 |
2011 correction2011 | -14.20%Oct 2011 | 5mo 4d | 1y 3mo | 1y 8moMay 2011 - Jan 2013 |
Drawdown Indicators
| DWAFX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.11% | -56.78% | +20.67% |
Max Drawdown (1Y)Largest decline over 1 year | -6.89% | -9.10% | +2.21% |
Max Drawdown (3Y)Largest decline over 3 years | -12.92% | -18.90% | +5.98% |
Max Drawdown (5Y)Largest decline over 5 years | -14.26% | -25.43% | +11.17% |
Max Drawdown (10Y)Largest decline over 10 years | -18.39% | -33.92% | +15.53% |
Current DrawdownCurrent decline from peak | -2.85% | -1.80% | -1.05% |
Average DrawdownAverage peak-to-trough decline | -7.09% | -10.71% | +3.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.94% | 2.03% | -0.09% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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