DWAT — Arrow DWA Tactical: Macro ETF
Data updated: 2025-06-26
DWAT — Arrow DWA Tactical: Macro ETF. United States Blend / Core Financials Equity · $2.31M AUM. Holdings, fees, performance and SEC filings.
DWAT Fund Overview
DWAT — Arrow DWA Tactical: Macro ETF is a US ETF managed by Arrow Investments Trust, categorised as United States Blend / Core Financials Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Arrow Investments Trust
- Category: United States Blend / Core Financials Equity
- Assets under management: $2.31M
- 1-year return: 10.6%
- Ticker: DWAT
- SEC CIK: 0001527428
- SEC series ID: S000041726
- Share class ID: C000129549
DWAT Investment Objective and Strategy
Arrow DWA Tactical: Macro ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Arrow Investments Trust.
Investment objective
The Arrow DWA Tactical ETF (the Fund) seeks to achieve long-term capital appreciation
Principal investment strategy
The Fund primarily invests in other exchange traded funds (ETFs) that each invest primarily in domestic and foreign (including emerging markets) (i) equity securities of any market capitalization, (ii) fixed-income securities of any credit quality, or (iii) alternative assets. In addition, the Fund may invest in commodity futures through a wholly-owned and controlled Cayman subsidiary (the Tactical Subsidiary). The Fund defines equity securities to be exchange traded common and preferred stocks; and defines fixed-income securities to be bonds, notes, debentures or similar instruments; and defines alternative assets to be investments that are historically uncorrelated to either equity or fixed income investments, which are commodity futures, commodities, exchange traded master limited partnerships (MLPs) and real estate-related securities, which include foreign and domestic exchange traded real estate investment trusts (REITs), exchange traded real estate operating companies (REOCs) or similar instruments.
The Funds fixed income securities may be rated below investment grade (rated BB+ or lower by Standard & Poors Ratings Services (S&P) or comparably rated by another nationally recognized statistical rating organization (NRSRO)), also known as high-yield or junk bonds, and in unrated debt securities determined by the Funds advisor to be of comparable quality. The Fund is a fund of funds, which means that it primarily invests in ETFs; however, when appropriate, the advisor may elect to invest directly in the types of securities described above (other than commodities). The Fund may also invest in other investment companies (including affiliated funds). The Funds advisor, Arrow Investment Advisors, LLC (the Advisor) allocates the Funds portfolio using research from Dorsey Wright & Associates (DWA), which comes from the DWA Global Macro investment model (the DWA Global Macro model), as well as the advisors proprietary methodology.
The DWA Global Macro model is based on a technical analysis of historical price and return forecasts. Technical analysis is the method of evaluating securities by analyzing statistics generated by market activity, such as past prices and trading volume, in an effort to determine probable future prices. The Advisor buys securities and derivatives that it believes will produce returns that are highly correlated to the returns of the components of the DWA Global Macro model. The Advisor sells securities and derivatives to purchase other securities and derivatives that it believes will have higher returns or more closely correlate to the returns of the components of the DWA Global Macro model. The Fund invests in securities without restriction as to capitalization, credit quality or country. Under normal market conditions, the Fund will invest: ?
From 0% to 100% of its assets in ETFs that invest in equity securities; ? From 0% to 100% of its assets in ETFs that invest in fixed-income securities; and ? From 0% up to 90% of its assets in ETFs that invest in alternative assets. The Fund may invest up to 25% of its total assets in the Tactical Subsidiary. The Tactical Subsidiary will invest primarily in commodity futures, as well as fixed-income securities and cash equivalents, which are intended to serve as margin or collateral for the Tactical Subsidiarys investments in commodity futures. When viewed on a consolidated basis, the Tactical Subsidiary is subject to the same investment restrictions as the Fund. The Fund will consolidate the Tactical Subsidiary for purposes of financial statements, leverage and concentration. The advisor is solely responsible for managing the assets of the Tactical Subsidiary.
The Fund will invest in ETFs within specific asset classes when the research provided by DWA indicates a high probability that the applicable asset classes and ETFs are likely to outperform the applicable universe. The Fund will sell interests or reduce investment exposure among an asset class or ETF when the research provided by DWA indicates that such asset class or ETF is likely to underperform the applicable universe. The Fund may invest more heavily in fixed-income ETFs, cash positions and similar securities when the research provided by DWA indicates these assets should significantly outperform the equity and/or alternative asset classes. In general, the Funds investments in equity securities are intended to achieve the capital appreciation component of the Funds investment objectives.
At times, the Fund may invest in fixed-income securities in order to achieve the capital preservation component of the Funds investment objectives. The Funds investments in alternative assets are intended to enable the portfolio to be less reliant on fixed-income investments for reducing volatility and equities for increasing returns. The Advisor may engage in frequent buying and selling of portfolio securities to achieve the Funds investment objectives. The Fund will not invest in options or swaps.
DWAT Holdings
Top 10 holdings of Arrow DWA Tactical: Macro ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| iShares Trust | 12.50% |
| Select Sector Spdr Trust | 11.56% |
| iShares Trust | 11.43% |
| Invesco Db Multi-Sector Comm Tr | 10.27% |
| iShares Trust | 10.21% |
| Invesco Exchange Traded Fund Trust II | 9.76% |
| Select Sector Spdr Trust | 9.72% |
| Invesco Exchange-Traded Fund Trust | 9.08% |
| Sprott Physical Gold Trust | 7.36% |
| Sprott Phys Silver | 5.48% |
DWAT Portfolio Allocation
Asset-class allocation of Arrow DWA Tactical: Macro ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 97.4% |
DWAT Performance
Total returns for DWAT (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 10.6% |
| 3 years (annualised) | 1.9% |
| 5 years (annualised) | 9.5% |
DWAT Risk Information
Risk metrics for DWAT, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 8.7%
DWAT Costs and Fees
DWAT costs about $183 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.83%
- Gross expense ratio: 5.56%
- Portfolio turnover: 193%
- Brokerage commissions: 3.76 bps of average net assets (SEC N-CEN)
DWAT Cashflows
Over the 12 months to 2025-04, Arrow DWA Tactical: Macro ETF had net outflows of $1.18M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2025-04 | $0 |
| 2025-03 | $0 |
| 2025-02 | $0 |
| 2025-01 | −$1.18M |
| 2024-12 | $0 |
| 2024-11 | $1.19M |
DWAT Debt Constituents
No individual debt constituents are reported in Arrow DWA Tactical: Macro ETF's latest SEC N-PORT filing.
DWAT Prospectus and SEC Filings
Official Arrow DWA Tactical: Macro ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-11-27
- Prospectus (485BPOS) — filed 2023-11-28
- Prospectus (485BPOS) — filed 2022-11-28
- Portfolio holdings (N-PORT) — filed 2025-06-26
- Portfolio holdings (N-PORT) — filed 2025-03-26
- Portfolio holdings (N-PORT) — filed 2024-12-27
- Annual census (N-CEN) — filed 2024-10-11
- Annual census (N-CEN) — filed 2023-10-13
Related Funds
Other United States Blend / Core Financials Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.