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Trending ETFs

Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$100.49

$50.9 M

4.34%

$4.36

0.61%

Vitals

YTD Return

1.3%

1 yr return

5.5%

3 Yr Avg Return

2.4%

5 Yr Avg Return

1.8%

Net Assets

$50.9 M

Holdings in Top 10

35.4%

52 WEEK LOW AND HIGH

$100.5
$96.85
$100.49

Expenses

OPERATING FEES

Expense Ratio 0.61%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$100.49

$50.9 M

4.34%

$4.36

0.61%

ARCM - Profile

Distributions

  • YTD Total Return 1.3%
  • 3 Yr Annualized Total Return 2.4%
  • 5 Yr Annualized Total Return 1.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.03%
DIVIDENDS
  • Dividend Yield 4.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Arrow Reserve Capital Management ETF
  • Fund Family Name
    Arrow Funds
  • Inception Date
    Mar 30, 2017
  • Shares Outstanding
    510000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Steven Boyd

Fund Description

The Fund invests in a variety of domestic fixed income securities. The Fund invests in fixed income instruments with a dollar-weighted average effective maturity of 0 to 2 years issued by U.S. Dollar-denominated issuers, including mortgage- or asset-backed securities, rated Baa- or higher by Moody’s Investors Service, Inc.(“Moody’s”), or equivalently rated by Standard & Poor’s Ratings Services (“S&P”) or Fitch, Inc.(“Fitch”), or, if unrated, determined by the Fund’s sub-advisor to be of comparable quality. The Fund may also invest in interest rate futures and forwards. The Fund’s investments in interest rate futures and forward contracts attempt to gain exposure to a particular group of securities or asset class without actually purchasing those securities or investments, or to hedge interest rate risk.

In selecting investments for purchase and sale, the Fund’s Sub-Advisor, Halyard Asset Management LLC, (“Halyard” or the “Sub-Advisor”), attempts to maximize income by identifying securities that offer an acceptable yield for a given level of credit risk and maturity. The Sub-Advisor attempts to identify short duration securities that offer a comparably better return potential and yield than money market funds. The Fund is not a money market fund and is more risky than a money market fund. The Sub-Advisor may retain securities if the rating of the security falls below investment grade (commonly referred to as a “junk bond”), and the Sub-Advisor deems retention of the security to be in the best interests of the Fund.

The average effective duration of the Fund will vary based on the Sub-Advisor’s forecast for interest rates and will normally not exceed 18 months. Duration is a measure used to determine the sensitivity of a security’s price to changes in interest rates. The longer a security’s duration, the more sensitive it will be to changes in interest rates. The dollar-weighted average portfolio maturity of the Fund is normally not expected to exceed three years.

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ARCM - Performance

Return Ranking - Trailing

Period ARCM Return Category Return Low Category Return High Rank in Category (%)
YTD 1.3% -0.5% 2.9% 67.28%
1 Yr 5.5% 0.0% 14.5% 64.81%
3 Yr 2.4%* -1.8% 5.7% 40.78%
5 Yr 1.8%* -0.8% 4.3% 79.14%
10 Yr N/A* -4.5% 27.5% 36.59%

* Annualized

Return Ranking - Calendar

Period ARCM Return Category Return Low Category Return High Rank in Category (%)
2023 0.3% -2.3% 4.3% 86.64%
2022 -0.2% -6.5% 0.5% 6.67%
2021 -0.3% -2.1% 0.3% 27.45%
2020 0.1% -3.1% 1.8% 58.46%
2019 0.4% -1.2% 6.1% 67.39%

Total Return Ranking - Trailing

Period ARCM Return Category Return Low Category Return High Rank in Category (%)
YTD 1.3% -0.5% 2.9% 67.28%
1 Yr 5.5% 0.0% 14.5% 64.81%
3 Yr 2.4%* -1.8% 5.7% 40.78%
5 Yr 1.8%* -0.8% 4.3% 79.14%
10 Yr N/A* -4.5% 27.5% N/A

* Annualized

Total Return Ranking - Calendar

Period ARCM Return Category Return Low Category Return High Rank in Category (%)
2023 4.7% 0.8% 12.1% 90.32%
2022 0.7% -5.1% 2.5% 23.33%
2021 -0.3% -2.1% 14.5% 88.24%
2020 1.0% -1.0% 3.6% 82.05%
2019 2.7% 0.3% 9.6% 64.67%

ARCM - Holdings

Concentration Analysis

ARCM Category Low Category High ARCM % Rank
Net Assets 50.9 M 25.4 K 22.5 B 91.40%
Number of Holdings 85 2 1304 84.62%
Net Assets in Top 10 18 M 32.5 K 18.4 B 89.59%
Weighting of Top 10 35.39% 6.0% 168.1% 23.08%

Top 10 Holdings

  1. B 11/07/23 7.04%
  2. B 12/05/23 6.35%
  3. T 3 06/30/24 4.08%
  4. T 3 07/31/24 3.18%
  5. T 3 1/4 08/31/24 2.89%
  6. C 5.864 09/29/25 2.64%
  7. T 4 1/4 09/30/24 2.57%
  8. BAC 4 1/8 01/22/24 2.31%
  9. PFE 4.65 05/19/25 2.19%
  10. FHLB 5 11/09/23 2.14%

Asset Allocation

Weighting Return Low Return High ARCM % Rank
Bonds
100.79% 0.00% 122.45% 3.62%
Convertible Bonds
0.60% 0.00% 15.25% 73.18%
Cash
0.05% 0.00% 109.89% 96.83%
Stocks
0.00% 0.00% 97.29% 96.83%
Preferred Stocks
0.00% 0.00% 0.00% 94.57%
Other
0.00% -29.59% 99.92% 94.57%

Bond Sector Breakdown

Weighting Return Low Return High ARCM % Rank
Corporate
61.29% 0.00% 99.91% 14.55%
Municipal
13.56% 0.00% 70.39% 5.45%
Government
4.12% 0.00% 100.00% 38.18%
Cash & Equivalents
0.05% 0.00% 109.89% 87.33%
Derivative
0.00% -29.59% 30.99% 67.42%
Securitized
0.00% 0.00% 100.00% 99.09%

Bond Geographic Breakdown

Weighting Return Low Return High ARCM % Rank
US
100.79% 0.00% 122.45% 3.62%
Non US
0.00% 0.00% 22.24% 96.38%

ARCM - Expenses

Operational Fees

ARCM Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.61% 0.02% 28.11% 35.16%
Management Fee 0.30% 0.00% 1.19% 70.59%
12b-1 Fee 0.00% 0.00% 1.00% 29.21%
Administrative Fee N/A 0.01% 0.40% 20.19%

Sales Fees

ARCM Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% N/A
Deferred Load N/A 0.25% 1.00% N/A

Trading Fees

ARCM Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

ARCM Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 369.54% 90.95%

ARCM - Distributions

Dividend Yield Analysis

ARCM Category Low Category High ARCM % Rank
Dividend Yield 4.34% 0.00% 7.89% 56.11%

Dividend Distribution Analysis

ARCM Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

ARCM Category Low Category High ARCM % Rank
Net Income Ratio -0.03% -1.30% 14.86% 91.08%

Capital Gain Distribution Analysis

ARCM Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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ARCM - Fund Manager Analysis

Managers

Steven Boyd


Start Date

Tenure

Tenure Rank

Mar 31, 2017

5.17

5.2%

Steven Boyd has more than 20 years of investment management experience and has been a Principal at Halyard Asset Management, LLC since 2010. Formerly he served as Managing Director of Fixed Income and Risk Management at Sterling Stamos. Prior to that, Mr. Boyd spent eight years at Deutsche Bank where he was responsible for the management and trading of tax-exempt high-net-worth individual accounts. He was also a member of the Private Bank’s Fixed Income Strategy Group and jointly responsible for short-term structured credit analysis and long-term municipal research. Before Deutsche Bank, Mr. Boyd held positions in the Public Finance Division at UBS and the Municipal Research Department at ABN Amro Securities. Mr. Boyd received a BS from State University of New York at New Paltz. He earned an MBA from University of Albany and is a CFA charter holder.

Jonathan Guyer


Start Date

Tenure

Tenure Rank

Mar 31, 2017

5.17

5.2%

Jonathan Guyer joined Arrow Investment Advisors, LLC in October 2013 after spending seven years with Longview Funds Management, LLC. During his tenure at Longview, he served the Principal, Director of Research and Chief Investment Officer of the firm. Mr. Guyer received a Bachelor of Science degree in Business Administration from the University of Northc Carolina - Wilmington in 1985. Mr. Guyer worked in the audit field as a seniro audit manager for commercial banks and trust companies from 1986 until 1994, when he decided to focus on investment management. From May 1995 to December 2001, Mr. Guyer was the head of the Proprietary Hedge Fund Group of Alex. Brown & Sons, Inc. ("DBAB"). From February 2001 to April 2006 Mr. Guyer was the head of the Alternative Investment Group of Legg Mason Wood Walker Incorporated ("LMWW"). Founded in 1800, Alex. Brown & Sons, Inc. was a Baltimore based investment bank acquired by Bankers Trust in 1997 and again acquired by Deutsche Bank in 1999. LMWW, also headquartered in Baltimore, MD, was a broker/dealer acquired by Citigroup Capital Markets Inc. in 2006. Mr. Guyer is a financial professional with significant, broad-based experience in alternative investments, including active portfolio management and trading, manager selection and due diligence, marketing and fund administration.

Michael Kastner


Start Date

Tenure

Tenure Rank

Mar 31, 2017

5.17

5.2%

Michael Kastner has more than 25 years of investment management experience and has been a Principal at Halyard Asset Management, LLC since 2010. Formerly, he served as Senior Managing Director of Fixed Income and Risk Management at Sterling Stamos. Prior to that, Mr. Kastner also spent seven years with Deutsche Bank, New York as Head of Taxable Fixed Income Portfolio Management and an Investment Policy Committee Member. Mr. Kastner’s previous experience also includes positions with NatWest-Coutts & Co , Société Générale and Chicago Research and Trading. Mr. Kastner earned a BA from Towson University, an MBA from George Washington University, and a Chartered Financial Analyst.

Joseph Barrato


Start Date

Tenure

Tenure Rank

Mar 31, 2017

5.17

5.2%

Joseph Barrato is a founding member of Arrow Investment Advisors, LLC. He has over 20 years of experience in the investment management industry, including six years with Rydex Investments, where he was responsible for the firm’s research and developed momentum models with the Rydex sector funds. Prior to Rydex, Mr. Barrato spent 12 years at the Federal Reserve Board of Governors, as an analyst and senior financial examiner. He holds a bachelor's degree in business administration from The George Washington University, where he majored in finance and minored in accounting. Mr. Barrato’s experience in the investment management industry gives him a strong understanding of the operational issues facing mutual funds and the regulatory framework under which investment companies must operate. Mr. Barrato has served as an Interested Trustee and the Chairman of the Board since the Trust was organized in August 2011.

Adam Cohn


Start Date

Tenure

Tenure Rank

Mar 31, 2017

5.17

5.2%

Adam Cohn has been a Vice President at Halyard Asset Management, LLC since 2010. Formerly he served as Senior Associate at Sterling Stamos, and a member of the Fixed Income and Risk Management team. In that role, he was assistant trader and responsible for middle office activities related to trading and portfolio hedging as well as cash and margin management. Prior to joining Sterling Stamos, Mr. Cohn was a Senior Operations Analyst at Lehman Brothers in the Fixed Income Trade Support Group. During his time at Lehman, Mr. Cohn supported the Emerging Market Trading desk, the Yankee Credit Trading desk, and the Preferred Trading desk.Mr. Cohn received a BS from Binghamton University with concentrations in Finance and Management Information Systems.

Amit Gutt


Start Date

Tenure

Tenure Rank

Jun 01, 2020

2.0

2.0%

Amit Gutt, CFA has been a Portfolio Manager for the ArrowFund since June 2020. Amit joined Arrow Investment Advisors, LLC in August 2014 as an Investment Strategist. In that role, he was responsible for performing quantitative research, portfolio management and trading across multiple asset classes. Prior to joining Arrow, Amit worked as a Summer Associate in emerging markets equity research at KAUST Investment Management and as a Statistician at the United States Department of Commerce from 2009 to 2012. Amit holds a B.S. in Financial Economics from University of Maryland Baltimore County, a Master of Arts in Applied Economics from Johns Hopkins University and an MBA in Finance from the NYU Stern School of Business. Amit is also a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 32.44 6.56 0.13