DWTNX Fees and Costs — Arrow DWA Tactical: Macro Fund, Institutional Class
Data updated: 2026-10-13
The net expense ratio is 1.74%. This share class carries a redemption fee of 1.00%. In fiscal 2026 the fund paid $66.4M in broker commissions, 144.9633% of average net assets, and portfolio turnover was 58%.
DWTNX Fees and Expenses
Annual operating expenses and sales charges of DWTNX. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.64% |
| Gross expense ratio | 1.74% |
| Fee waiver | — |
| Net expense ratio | 1.74% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 1.00% |
DWTNX Costs Over Time
On $10,000 invested in DWTNX, assuming 5% a year before costs, total costs come to $13,046 over 5 years, cutting the return by — 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 1.74%) | $183 | $137 | $126 |
| Trading costs (broker commissions) | $15,221 | $11,417 | $10,503 |
| Lost growth on money paid in costs | $0 | $1,201 | $2,418 |
| Total costs | $15,404 | $12,756 | $13,046 |
| Value after costs | −$4,904 | −$1,179 | −$284 |
| Impact on return, per year | — | — | — |
DWTNX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 144.9633%
- Total broker commissions: $66.4M
- Bought from dealers (principal trades, not a cost): $90.4M
- Portfolio turnover (prospectus): 58%
DWTNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Virtu Americas LLC | $9K | 88.75% |
| Barclays Capital Inc. | $1K | 11.25% |
DWTNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co LLC | $90.4M | 100.00% |
Arrow DWA Tactical: Macro Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DWTNX | Institutional Class | 1.74% | none |
| DWTFX | Class A | 1.99% | 5.75% |
| DWTTX | Class C | 2.74% | none |
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.