DWAT vs. AOM

Last updated Jun 4, 2026

DWAT (Arrow DWA Tactical: Macro ETF) and AOM (iShares Core Moderate Allocation ETF) are both exchange-traded funds - DWAT is a Tactical Allocation fund actively managed by Arrow Funds, while AOM is a Diversified Portfolio fund tracking the S&P Target Risk Moderate. DWAT is actively managed, while AOM is passively managed. DWAT charges 1.83%/yr vs 0.25%/yr for AOM.

Performance

DWAT vs. AOM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Arrow DWA Tactical: Macro ETF (DWAT) and iShares Core Moderate Allocation ETF (AOM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DWAT

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

AOM

• 1D: -0.46%
• 1M: 2.13%
• YTD: 5.00%
• 6M: 5.31%
• 1Y: 14.51%
• 3Y*: 10.87%
• 5Y*: 4.80%
• 10Y*: 6.22%

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

DWAT vs. AOM - Yearly Performance Comparison

	2026 (YTD)
DWAT Arrow DWA Tactical: Macro ETF	0.00%
AOM iShares Core Moderate Allocation ETF	3.06%

DWAT vs. AOM - Sectors Allocation Comparison

Sectors	DWAT	AOM
Financial Services	27.2%	16.1%
Industrials	25.1%	11.9%
Technology	10.2%	27.9%
Consumer Defensive	6.5%	5.0%
Utilities	5.3%	2.7%
Healthcare	5.3%	8.0%
Consumer Cyclical	5.2%	9.5%
Real Estate	5.1%	2.4%
Energy	4.2%	4.3%
Communication Services	3.4%	8.1%
Basic Materials	2.6%	4.2%

Return for Risk

DWAT vs. AOM — Risk / Return Rank

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

AOM

AOM Risk / Return Rank: 65
AOM Sharpe Ratio Rank: 66
AOM Sortino Ratio Rank: 69
AOM Omega Ratio Rank: 67
AOM Calmar Ratio Rank: 57
AOM Martin Ratio Rank: 67

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.

DWAT vs. AOM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Arrow DWA Tactical: Macro ETF (DWAT) and iShares Core Moderate Allocation ETF (AOM). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	DWAT	AOM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.23	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.59	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.69	—

Drawdowns

DWAT vs. AOM - Drawdown Comparison

The maximum DWAT drawdown since its inception was 0.00%, smaller than the maximum AOM drawdown of -19.96%. Use the drawdown chart below to compare losses from any high point for DWAT and AOM.

Drawdown Indicators

	DWAT	AOM	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-19.96%	+19.96%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.11%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-6.85%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.96%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-19.96%	—
Current Drawdown Current decline from peak	0.00%	-0.46%	+0.46%
Average Drawdown Average peak-to-trough decline	0.00%	-2.70%	+2.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.17%	—

Volatility

Volatility by Period

	DWAT	AOM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.17%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	6.55%	-6.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	8.14%	-8.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	7.93%	-7.93%

DWAT vs. AOM - Expense Ratio Comparison

DWAT has a 1.83% expense ratio, which is higher than AOM's 0.25% expense ratio.

Dividends

DWAT vs. AOM - Dividend Comparison

DWAT has not paid dividends to shareholders, while AOM's dividend yield for the trailing twelve months is around 2.98%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOM iShares Core Moderate Allocation ETF	2.98%	2.98%	3.10%	2.79%	2.27%	1.56%	2.02%	2.66%	2.53%	3.31%	2.14%	1.98%
DWAT Arrow DWA Tactical: Macro ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, DWAT or AOM?

On fees, AOM is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DWAT or AOM?

AOM is cheaper with a 0.25% expense ratio, compared with 1.83% for DWAT.

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

AOM has the higher dividend yield at 2.98%, compared with 0.00% for DWAT.

What is the main difference between DWAT and AOM?

DWAT is categorized as Tactical Allocation, while AOM is Diversified Portfolio. They also come from different issuers: Arrow Funds and iShares. Their fees differ too: 1.83% for DWAT and 0.25% for AOM.