DWAT vs. GYLD

Last updated Jun 4, 2026

DWAT (Arrow DWA Tactical: Macro ETF) and GYLD (Arrow Dow Jones Global Yield ETF) are both exchange-traded funds - DWAT is a Tactical Allocation fund actively managed by Arrow Funds, while GYLD is a Diversified Portfolio fund tracking the DJ Brookfield Global Infrastructure Composite Yield. DWAT is actively managed, while GYLD is passively managed. DWAT charges 1.83%/yr vs 0.75%/yr for GYLD.

Performance

DWAT vs. GYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Arrow DWA Tactical: Macro ETF (DWAT) and Arrow Dow Jones Global Yield ETF (GYLD). 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*: —

GYLD

• 1D: -0.42%
• 1M: -0.76%
• YTD: 7.91%
• 6M: 10.25%
• 1Y: 15.94%
• 3Y*: 15.50%
• 5Y*: 6.21%
• 10Y*: 4.68%

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

DWAT vs. GYLD - Yearly Performance Comparison

	2026 (YTD)
DWAT Arrow DWA Tactical: Macro ETF	0.00%
GYLD Arrow Dow Jones Global Yield ETF	5.17%

DWAT vs. GYLD - Sectors Allocation Comparison

Sectors	DWAT	GYLD
Financial Services	27.2%	12.0%
Industrials	25.1%	4.3%
Technology	10.2%	-
Consumer Defensive	6.5%	1.6%
Utilities	5.3%	4.6%
Healthcare	5.3%	-
Consumer Cyclical	5.2%	2.5%
Real Estate	5.1%	34.8%
Energy	4.2%	30.0%
Communication Services	3.4%	2.7%
Basic Materials	2.6%	7.5%

Return for Risk

DWAT vs. GYLD — Risk / Return Rank

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

GYLD

GYLD Risk / Return Rank: 45
GYLD Sharpe Ratio Rank: 34
GYLD Sortino Ratio Rank: 35
GYLD Omega Ratio Rank: 35
GYLD Calmar Ratio Rank: 66
GYLD Martin Ratio Rank: 54

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. GYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Arrow DWA Tactical: Macro ETF (DWAT) and Arrow Dow Jones Global Yield ETF (GYLD). 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	GYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.26	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.45	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.28	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.21	—

Drawdowns

DWAT vs. GYLD - Drawdown Comparison

The maximum DWAT drawdown since its inception was 0.00%, smaller than the maximum GYLD drawdown of -55.03%. Use the drawdown chart below to compare losses from any high point for DWAT and GYLD.

Drawdown Indicators

	DWAT	GYLD	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-55.03%	+55.03%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.86%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-8.37%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.24%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-47.89%	—
Current Drawdown Current decline from peak	0.00%	-1.71%	+1.71%
Average Drawdown Average peak-to-trough decline	0.00%	-14.41%	+14.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.74%	—

Volatility

Volatility by Period

	DWAT	GYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.16%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.39%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	12.78%	-12.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	13.79%	-13.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	16.58%	-16.58%

DWAT vs. GYLD - Expense Ratio Comparison

DWAT has a 1.83% expense ratio, which is higher than GYLD's 0.75% expense ratio.

Dividends

DWAT vs. GYLD - Dividend Comparison

DWAT has not paid dividends to shareholders, while GYLD's dividend yield for the trailing twelve months is around 7.37%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
GYLD Arrow Dow Jones Global Yield ETF	7.37%	8.43%	12.90%	7.13%	4.64%	5.50%	7.42%	5.83%	8.17%	6.78%	7.29%	10.35%

Frequently Asked Questions

Which ETF is better, DWAT or GYLD?

On fees, GYLD is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DWAT or GYLD?

GYLD is cheaper with a 0.75% expense ratio, compared with 1.83% for DWAT.

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

GYLD has the higher dividend yield at 7.37%, compared with 0.00% for DWAT.

What is the main difference between DWAT and GYLD?

DWAT is categorized as Tactical Allocation, while GYLD is Diversified Portfolio. Their fees differ too: 1.83% for DWAT and 0.75% for GYLD.