DWAT Fees and Costs — Arrow DWA Tactical: Macro ETF
Data updated: 2025-06-26
The net expense ratio is 1.83% (5.56% before fee waivers). There are no sales loads or redemption fees. In fiscal 2024 the fund paid $1K in broker commissions, 0.0376% of average net assets, and portfolio turnover was 193%.
DWAT Fees and Expenses
Annual operating expenses and sales charges of DWAT. Prospectus, as of November 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 4.43% |
| Gross expense ratio | 5.56% |
| Fee waiver | −3.73% |
| Net expense ratio | 1.83% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
DWAT Costs Over Time
On $10,000 invested in DWAT, assuming 5% a year before costs, total costs come to $1,148 over 5 years, cutting the return by 1.96% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.83%) | $192 | $594 | $1,021 |
| Trading costs (broker commissions) | $4 | $12 | $21 |
| Lost growth on money paid in costs | $0 | $30 | $106 |
| Total costs | $196 | $637 | $1,148 |
| Value after costs | $10,304 | $10,940 | $11,615 |
| Impact on return, per year | 1.96% | 1.96% | 1.96% |
DWAT Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0376%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $2.2M
- Portfolio turnover (prospectus): 193%
- Securities lending: none during the year
DWAT Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital Inc. | $951 | 87.22% |
| Jonestrading Institutional Services LLC | $139 | 12.78% |
DWAT Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Bofa Securities, Inc. | $2.1M | 95.48% |
| Goldman Sachs & Co LLC | $100K | 4.52% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.