DWAT vs. DRAI

Last updated Jun 4, 2026

DWAT (Arrow DWA Tactical: Macro ETF) and DRAI (Draco Evolution AI ETF) are both exchange-traded funds - DWAT is a Tactical Allocation fund actively managed by Arrow Funds, while DRAI is a Diversified Portfolio fund actively managed by Draco Evolution. Both are actively managed. DWAT charges 1.83%/yr vs 1.50%/yr for DRAI.

Performance

DWAT vs. DRAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Arrow DWA Tactical: Macro ETF (DWAT) and Draco Evolution AI ETF (DRAI). 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*: —

DRAI

• 1D: -0.50%
• 1M: 7.63%
• YTD: 18.51%
• 6M: 16.55%
• 1Y: 41.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DWAT vs. DRAI - Yearly Performance Comparison

	2026 (YTD)
DWAT Arrow DWA Tactical: Macro ETF	0.00%
DRAI Draco Evolution AI ETF	18.78%

DWAT vs. DRAI - Sectors Allocation Comparison

Sectors	DWAT	DRAI
Financial Services	27.2%	7.9%
Industrials	25.1%	6.6%
Technology	10.2%	45.2%
Consumer Defensive	6.5%	5.3%
Utilities	5.3%	1.8%
Healthcare	5.3%	7.0%
Consumer Cyclical	5.2%	10.1%
Real Estate	5.1%	1.3%
Energy	4.2%	2.4%
Communication Services	3.4%	10.9%
Basic Materials	2.6%	1.7%

Return for Risk

DWAT vs. DRAI — Risk / Return Rank

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

DRAI

DRAI Risk / Return Rank: 87
DRAI Sharpe Ratio Rank: 88
DRAI Sortino Ratio Rank: 86
DRAI Omega Ratio Rank: 88
DRAI Calmar Ratio Rank: 91
DRAI Martin Ratio Rank: 82

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. DRAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Arrow DWA Tactical: Macro ETF (DWAT) and Draco Evolution AI ETF (DRAI). 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	DRAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.95	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.33	—

Drawdowns

DWAT vs. DRAI - Drawdown Comparison

The maximum DWAT drawdown since its inception was 0.00%, smaller than the maximum DRAI drawdown of -13.69%. Use the drawdown chart below to compare losses from any high point for DWAT and DRAI.

Drawdown Indicators

	DWAT	DRAI	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-13.69%	+13.69%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.22%	—
Current Drawdown Current decline from peak	0.00%	-0.50%	+0.50%
Average Drawdown Average peak-to-trough decline	0.00%	-4.08%	+4.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.59%	—

Volatility

Volatility by Period

	DWAT	DRAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.23%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.87%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	14.37%	-14.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	16.75%	-16.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	16.75%	-16.75%

DWAT vs. DRAI - Expense Ratio Comparison

DWAT has a 1.83% expense ratio, which is higher than DRAI's 1.50% expense ratio.

Dividends

DWAT vs. DRAI - Dividend Comparison

DWAT has not paid dividends to shareholders, while DRAI's dividend yield for the trailing twelve months is around 1.30%.

Position	TTM	2025	2024
DRAI Draco Evolution AI ETF	1.30%	1.48%	2.18%
DWAT Arrow DWA Tactical: Macro ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, DWAT or DRAI?

On fees, DRAI is cheaper at 1.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DWAT or DRAI?

DRAI is cheaper with a 1.50% expense ratio, compared with 1.83% for DWAT.

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

DRAI has the higher dividend yield at 1.30%, compared with 0.00% for DWAT.

What is the main difference between DWAT and DRAI?

DWAT is categorized as Tactical Allocation, while DRAI is Diversified Portfolio. They also come from different issuers: Arrow Funds and Draco Evolution. Their fees differ too: 1.83% for DWAT and 1.50% for DRAI.