ALLW vs. DWAT

Last updated Jun 4, 2026

ALLW (SPDR Bridgewater All Weather ETF) and DWAT (Arrow DWA Tactical: Macro ETF) are both Tactical Allocation funds. Both are actively managed. ALLW charges 0.85%/yr vs 1.83%/yr for DWAT.

Performance

ALLW vs. DWAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Bridgewater All Weather ETF (ALLW) and Arrow DWA Tactical: Macro ETF (DWAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ALLW

• 1D: -0.76%
• 1M: 0.91%
• YTD: 9.20%
• 6M: 8.47%
• 1Y: 23.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DWAT

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ALLW vs. DWAT - Yearly Performance Comparison

	2026 (YTD)
ALLW SPDR Bridgewater All Weather ETF	3.73%
DWAT Arrow DWA Tactical: Macro ETF	0.00%

ALLW vs. DWAT - Sectors Allocation Comparison

Sectors	ALLW	DWAT
Technology	26.3%	10.2%
Financial Services	15.8%	27.2%
Consumer Cyclical	11.0%	5.2%
Communication Services	9.7%	3.4%
Industrials	9.2%	25.1%
Healthcare	8.2%	5.3%
Consumer Defensive	5.9%	6.5%
Energy	4.9%	4.2%
Basic Materials	4.6%	2.6%
Utilities	2.8%	5.3%
Real Estate	1.8%	5.1%

Return for Risk

ALLW vs. DWAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ALLW

ALLW Risk / Return Rank: 67
ALLW Sharpe Ratio Rank: 67
ALLW Sortino Ratio Rank: 64
ALLW Omega Ratio Rank: 67
ALLW Calmar Ratio Rank: 66
ALLW Martin Ratio Rank: 73

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ALLW vs. DWAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Bridgewater All Weather ETF (ALLW) and Arrow DWA Tactical: Macro ETF (DWAT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ALLW	DWAT	Difference
Sharpe ratio: Return per unit of total volatility	2.27	—	—
Sortino ratio: Return per unit of downside risk	3.05	—	—
Omega ratio: Gain probability vs. loss probability	1.41	—	—
Calmar ratio: Return relative to maximum drawdown	3.30	—	—
Martin ratio: Return relative to average drawdown	14.01	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ALLW	DWAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.62	—	—

Drawdowns

ALLW vs. DWAT - Drawdown Comparison

The maximum ALLW drawdown since its inception was -8.78%, which is greater than DWAT's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for ALLW and DWAT.

Drawdown Indicators

	ALLW	DWAT	Difference
Max Drawdown Largest peak-to-trough decline	-8.78%	0.00%	-8.78%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	—	—
Current Drawdown Current decline from peak	-0.79%	0.00%	-0.79%
Average Drawdown Average peak-to-trough decline	-1.20%	0.00%	-1.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	—	—

Volatility

Volatility by Period

	ALLW	DWAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.71%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.52%	0.00%	+10.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.54%	0.00%	+12.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.54%	0.00%	+12.54%

ALLW vs. DWAT - Expense Ratio Comparison

ALLW has a 0.85% expense ratio, which is lower than DWAT's 1.83% expense ratio.

Dividends

ALLW vs. DWAT - Dividend Comparison

ALLW's dividend yield for the trailing twelve months is around 4.28%, while DWAT has not paid dividends to shareholders.

Position	TTM	2025
ALLW SPDR Bridgewater All Weather ETF	4.28%	4.67%
DWAT Arrow DWA Tactical: Macro ETF	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, ALLW or DWAT?

On fees, ALLW is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ALLW or DWAT?

ALLW is cheaper with a 0.85% expense ratio, compared with 1.83% for DWAT.

Which ETF pays a higher dividend yield, ALLW or DWAT?

ALLW has the higher dividend yield at 4.28%, compared with 0.00% for DWAT.

What is the main difference between ALLW and DWAT?

They also come from different issuers: State Street and Arrow Funds. Their fees differ too: 0.85% for ALLW and 1.83% for DWAT.