SHUS vs. DWAT

Last updated Jun 4, 2026

SHUS (Syntax Stratified U.S. Total Market Hedged ETF) and DWAT (Arrow DWA Tactical: Macro ETF) are both exchange-traded funds - SHUS is a Hedge Fund fund actively managed by Syntax Advisors, while DWAT is a Tactical Allocation fund actively managed by Arrow Funds. Both are actively managed. SHUS charges 0.65%/yr vs 1.83%/yr for DWAT.

Performance

SHUS vs. DWAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Syntax Stratified U.S. Total Market Hedged ETF (SHUS) and Arrow DWA Tactical: Macro ETF (DWAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SHUS

• 1D: -0.31%
• 1M: 3.21%
• YTD: 8.58%
• 6M: 8.70%
• 1Y: 17.10%
• 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)

SHUS vs. DWAT - Yearly Performance Comparison

	2026 (YTD)
SHUS Syntax Stratified U.S. Total Market Hedged ETF	2.73%
DWAT Arrow DWA Tactical: Macro ETF	0.00%

SHUS vs. DWAT - Sectors Allocation Comparison

Sectors	SHUS	DWAT
Technology	17.8%	10.2%
Consumer Cyclical	13.0%	5.2%
Consumer Defensive	12.1%	6.5%
Healthcare	11.8%	5.3%
Industrials	10.5%	25.1%
Financial Services	10.4%	27.2%
Energy	6.4%	4.2%
Communication Services	6.2%	3.4%
Utilities	5.9%	5.3%
Real Estate	3.4%	5.1%
Basic Materials	2.6%	2.6%

Return for Risk

SHUS vs. DWAT — Risk / Return Rank

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

SHUS

SHUS Risk / Return Rank: 51
SHUS Sharpe Ratio Rank: 51
SHUS Sortino Ratio Rank: 54
SHUS Omega Ratio Rank: 48
SHUS Calmar Ratio Rank: 50
SHUS Martin Ratio Rank: 52

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.

SHUS vs. DWAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Syntax Stratified U.S. Total Market Hedged ETF (SHUS) and Arrow DWA Tactical: Macro 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.

	SHUS	DWAT	Difference
Sharpe ratio: Return per unit of total volatility	1.72	—	—
Sortino ratio: Return per unit of downside risk	2.54	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.47	—	—
Martin ratio: Return relative to average drawdown	8.81	—	—
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

	SHUS	DWAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	—	—

Drawdowns

SHUS vs. DWAT - Drawdown Comparison

The maximum SHUS drawdown since its inception was -14.09%, which is greater than DWAT's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SHUS and DWAT.

Drawdown Indicators

	SHUS	DWAT	Difference
Max Drawdown Largest peak-to-trough decline	-14.09%	0.00%	-14.09%
Max Drawdown (1Y) Largest decline over 1 year	-6.95%	—	—
Current Drawdown Current decline from peak	-0.31%	0.00%	-0.31%
Average Drawdown Average peak-to-trough decline	-2.65%	0.00%	-2.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	—	—

Volatility

Volatility by Period

	SHUS	DWAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.06%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.01%	0.00%	+10.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.61%	0.00%	+12.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.61%	0.00%	+12.61%

SHUS vs. DWAT - Expense Ratio Comparison

SHUS has a 0.65% expense ratio, which is lower than DWAT's 1.83% expense ratio.

Dividends

SHUS vs. DWAT - Dividend Comparison

SHUS's dividend yield for the trailing twelve months is around 1.27%, while DWAT has not paid dividends to shareholders.

Position	TTM	2025	2024
DWAT Arrow DWA Tactical: Macro ETF	0.00%	0.00%	0.00%
SHUS Syntax Stratified U.S. Total Market Hedged ETF	1.27%	1.37%	0.26%

Frequently Asked Questions

Which ETF is better, SHUS or DWAT?

On fees, SHUS is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SHUS or DWAT?

SHUS is cheaper with a 0.65% expense ratio, compared with 1.83% for DWAT.

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

SHUS has the higher dividend yield at 1.27%, compared with 0.00% for DWAT.

What is the main difference between SHUS and DWAT?

SHUS is categorized as Hedge Fund, while DWAT is Tactical Allocation. They also come from different issuers: Syntax Advisors and Arrow Funds. Their fees differ too: 0.65% for SHUS and 1.83% for DWAT.