HISF vs. DWAT

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust High Income Strategic Focus ETF (HISF) and Arrow DWA Tactical ETF (DWAT).

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

Performance

HISF vs. DWAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust High Income Strategic Focus ETF (HISF) and Arrow DWA Tactical ETF (DWAT). The values are adjusted to include any dividend payments, if applicable.

HISF vs. DWAT - Yearly Performance Comparison

	2026 (YTD)
HISF First Trust High Income Strategic Focus ETF	-1.14%
DWAT Arrow DWA Tactical ETF	0.00%

Returns By Period

HISF

• 1D: 0.60%
• 1M: -1.96%
• YTD: -0.74%
• 6M: 0.66%
• 1Y: 5.20%
• 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)

HISF vs. DWAT - Expense Ratio Comparison

HISF has a 0.87% expense ratio, which is lower than DWAT's 1.66% expense ratio.

DWAT

Arrow DWA Tactical ETF

HISF

First Trust High Income Strategic Focus ETF

Return for Risk

HISF vs. DWAT — Risk / Return Rank

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

HISF

HISF Risk / Return Rank: 74
HISF Sharpe Ratio Rank: 77
HISF Sortino Ratio Rank: 77
HISF Omega Ratio Rank: 72
HISF Calmar Ratio Rank: 71
HISF Martin Ratio Rank: 72

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.

HISF vs. DWAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust High Income Strategic Focus ETF (HISF) 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.

	HISF	DWAT	Difference
Sharpe ratio Return per unit of total volatility	1.42	—	—
Sortino ratio Return per unit of downside risk	1.98	—	—
Omega ratio Gain probability vs. loss probability	1.27	—	—
Calmar ratio Return relative to maximum drawdown	1.83	—	—
Martin ratio Return relative to average drawdown	7.59	—	—
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

	HISF	DWAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.32	—	—

Dividends

HISF vs. DWAT - Dividend Comparison

HISF's dividend yield for the trailing twelve months is around 4.92%, while DWAT has not paid dividends to shareholders.

	TTM	2025	2024
HISF First Trust High Income Strategic Focus ETF	4.92%	4.69%	3.92%
DWAT Arrow DWA Tactical ETF	0.00%	0.00%	0.00%

Drawdowns

HISF vs. DWAT - Drawdown Comparison

The maximum HISF drawdown since its inception was -3.86%, which is greater than DWAT's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for HISF and DWAT.

Drawdown Indicators

	HISF	DWAT	Difference
Max Drawdown Largest peak-to-trough decline	-3.86%	0.00%	-3.86%
Max Drawdown (1Y) Largest decline over 1 year	-2.90%	—	—
Current Drawdown Current decline from peak	-1.96%	0.00%	-1.96%
Average Drawdown Average peak-to-trough decline	-0.86%	0.00%	-0.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.70%	—	—

Volatility

Volatility by Period

	HISF	DWAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.76%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.67%	0.00%	+3.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.96%	0.00%	+3.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.96%	0.00%	+3.96%