CANQ vs. DWAT

Last updated Apr 1, 2026

Compare and contrast key facts about Calamos Alternative Nasdaq & Bond ETF (CANQ) and Arrow DWA Tactical ETF (DWAT).

CANQ and DWAT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CANQ is an actively managed fund by Calamos. It was launched on Feb 13, 2024. DWAT is an actively managed fund by Arrow Funds. It was launched on Oct 1, 2014.

Performance

CANQ vs. DWAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Alternative Nasdaq & Bond ETF (CANQ) and Arrow DWA Tactical ETF (DWAT). The values are adjusted to include any dividend payments, if applicable.

CANQ vs. DWAT - Yearly Performance Comparison

	2026 (YTD)
CANQ Calamos Alternative Nasdaq & Bond ETF	-5.28%
DWAT Arrow DWA Tactical ETF	0.00%

Returns By Period

CANQ

• 1D: 1.68%
• 1M: -4.76%
• YTD: -5.71%
• 6M: -5.33%
• 1Y: 9.46%
• 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)

CANQ vs. DWAT - Expense Ratio Comparison

CANQ has a 0.90% expense ratio, which is lower than DWAT's 1.66% expense ratio.

DWAT

Arrow DWA Tactical ETF

CANQ

Calamos Alternative Nasdaq & Bond ETF

Return for Risk

CANQ vs. DWAT — Risk / Return Rank

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

CANQ

CANQ Risk / Return Rank: 40
CANQ Sharpe Ratio Rank: 45
CANQ Sortino Ratio Rank: 44
CANQ Omega Ratio Rank: 40
CANQ Calmar Ratio Rank: 36
CANQ Martin Ratio Rank: 34

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.

CANQ vs. DWAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Alternative Nasdaq & Bond ETF (CANQ) and Arrow DWA Tactical 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.

	CANQ	DWAT	Difference
Sharpe ratio Return per unit of total volatility	0.81	—	—
Sortino ratio Return per unit of downside risk	1.20	—	—
Omega ratio Gain probability vs. loss probability	1.16	—	—
Calmar ratio Return relative to maximum drawdown	0.90	—	—
Martin ratio Return relative to average drawdown	3.03	—	—
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

	CANQ	DWAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.81	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	—	—

Dividends

CANQ vs. DWAT - Dividend Comparison

CANQ's dividend yield for the trailing twelve months is around 5.00%, while DWAT has not paid dividends to shareholders.

	TTM	2025	2024
CANQ Calamos Alternative Nasdaq & Bond ETF	5.00%	5.02%	4.19%
DWAT Arrow DWA Tactical ETF	0.00%	0.00%	0.00%

Drawdowns

CANQ vs. DWAT - Drawdown Comparison

The maximum CANQ drawdown since its inception was -12.79%, which is greater than DWAT's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for CANQ and DWAT.

Drawdown Indicators

	CANQ	DWAT	Difference
Max Drawdown Largest peak-to-trough decline	-12.79%	0.00%	-12.79%
Max Drawdown (1Y) Largest decline over 1 year	-10.77%	—	—
Current Drawdown Current decline from peak	-9.26%	0.00%	-9.26%
Average Drawdown Average peak-to-trough decline	-2.98%	0.00%	-2.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	—	—

Volatility

Volatility by Period

	CANQ	DWAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.98%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.67%	0.00%	+11.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.73%	0.00%	+12.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.73%	0.00%	+12.73%