DWAT vs. FLCO

Last updated Jun 4, 2026

DWAT (Arrow DWA Tactical: Macro ETF) and FLCO (Franklin Liberty Investment Grade Corporate ETF) are both exchange-traded funds - DWAT is a Tactical Allocation fund actively managed by Arrow Funds, while FLCO is a Corporate Bonds fund actively managed by Franklin Templeton. Both are actively managed. DWAT charges 1.83%/yr vs 0.35%/yr for FLCO.

Performance

DWAT vs. FLCO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Arrow DWA Tactical: Macro ETF (DWAT) and Franklin Liberty Investment Grade Corporate ETF (FLCO). 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*: —

FLCO

• 1D: -0.19%
• 1M: 0.57%
• YTD: 0.40%
• 6M: 0.31%
• 1Y: 5.64%
• 3Y*: 4.97%
• 5Y*: 0.17%
• 10Y*: —

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

DWAT vs. FLCO - Yearly Performance Comparison

	2026 (YTD)
DWAT Arrow DWA Tactical: Macro ETF	0.00%
FLCO Franklin Liberty Investment Grade Corporate ETF	-0.21%

DWAT vs. FLCO - Sectors Allocation Comparison

Sectors	DWAT	FLCO
Financial Services	27.2%	12.6%
Industrials	25.1%	2.1%
Technology	10.2%	1.1%
Consumer Defensive	6.5%	0.3%
Utilities	5.3%	-
Healthcare	5.3%	2.8%
Consumer Cyclical	5.2%	0.0%
Real Estate	5.1%	-
Energy	4.2%	1.7%
Communication Services	3.4%	2.4%
Basic Materials	2.6%	0.5%

Return for Risk

DWAT vs. FLCO — Risk / Return Rank

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

FLCO

FLCO Risk / Return Rank: 37
FLCO Sharpe Ratio Rank: 36
FLCO Sortino Ratio Rank: 36
FLCO Omega Ratio Rank: 33
FLCO Calmar Ratio Rank: 42
FLCO Martin Ratio Rank: 39

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. FLCO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Arrow DWA Tactical: Macro ETF (DWAT) and Franklin Liberty Investment Grade Corporate ETF (FLCO). 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	FLCO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.28	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.02	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.32	—

Drawdowns

DWAT vs. FLCO - Drawdown Comparison

The maximum DWAT drawdown since its inception was 0.00%, smaller than the maximum FLCO drawdown of -22.71%. Use the drawdown chart below to compare losses from any high point for DWAT and FLCO.

Drawdown Indicators

	DWAT	FLCO	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-22.71%	+22.71%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.76%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-6.59%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.48%	—
Current Drawdown Current decline from peak	0.00%	-2.37%	+2.37%
Average Drawdown Average peak-to-trough decline	0.00%	-5.88%	+5.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.92%	—

Volatility

Volatility by Period

	DWAT	FLCO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.44%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.24%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	4.42%	-4.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	7.15%	-7.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	6.83%	-6.83%

DWAT vs. FLCO - Expense Ratio Comparison

DWAT has a 1.83% expense ratio, which is higher than FLCO's 0.35% expense ratio.

Dividends

DWAT vs. FLCO - Dividend Comparison

DWAT has not paid dividends to shareholders, while FLCO's dividend yield for the trailing twelve months is around 4.66%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
FLCO Franklin Liberty Investment Grade Corporate ETF	4.66%	4.60%	4.63%	3.83%	3.85%	2.85%	3.99%	3.39%	3.86%	3.33%	0.51%

Frequently Asked Questions

Which ETF is better, DWAT or FLCO?

On fees, FLCO is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DWAT or FLCO?

FLCO is cheaper with a 0.35% expense ratio, compared with 1.83% for DWAT.

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

FLCO has the higher dividend yield at 4.66%, compared with 0.00% for DWAT.

What is the main difference between DWAT and FLCO?

DWAT is categorized as Tactical Allocation, while FLCO is Corporate Bonds. They also come from different issuers: Arrow Funds and Franklin Templeton. Their fees differ too: 1.83% for DWAT and 0.35% for FLCO.