Fund Evaluator:
Arrow DWA Tactical Balanced Instl (DWANX)
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Best Performing in Tactical Allocation Over the Last Year
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Fund Details
Arrow DWA Tactical Balanced Instl Overview
Arrow DWA Tactical Balanced Instl (DWANX) is an actively managed Allocation Tactical Allocation fund. Arrow Funds launched the fund in 2012.
The investment seeks an appropriate balance between long-term capital appreciation and capital preservation. The fund primarily invests, either directly or indirectly through investments in exchange traded funds or other investment companies (including affiliated funds), in (i) equity securities, (ii) fixed income securities, or (iii) alternative assets. It may invest up to 25% of its total assets in a wholly-owned and controlled subsidiary (the "DWA Balanced Subsidiary").
About Arrow DWA Tactical Balanced Instl (DWANX)
There are 2 members of the management team with an average tenure of 12.01 years: Jonathan Guyer (2014), Joseph Barrato (2014). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Morningstar Glb Flex Allo EW TR USD index with a weighting of 100%. Arrow DWA Tactical Balanced Instl has 131 securities in its portfolio. The top 10 holdings constitute 49.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Arrow DWA Tactical Balanced Instl is part of the Allocation global asset class and is within the Allocation fund group. Arrow DWA Tactical Balanced Instl has 18.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 31.3%. There is 17.4% allocated to foreign stock, and 0.5% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 20.1% (19.1% domestic bond, 1.0% foreign bond and 3.7% convertible bond). Arrow DWA Tactical Balanced Instl has 13.4% of the portfolio in cash.
Assets Under Management
The fund has $3 million in total assets, which is below the $222 million average for the Tactical Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
DWANX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Arrow DWA Tactical Balanced Instl expense ratio is high compared to funds in the Tactical Allocation category. Arrow DWA Tactical Balanced Instl has an expense ratio of 2.12%, which is 20% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Arrow DWA Tactical Balanced Instl has a portfolio turnover rate of 106%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 196% for the Tactical Allocation category.
Recently, in the month of July 2026, Arrow DWA Tactical Balanced Instl returned -0.5%, which earned it a grade of C, as the Tactical Allocation category had an average return of -0.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Arrow DWA Tactical Balanced Instl has a trailing yield of 1.86%, which is below the 2.86% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Arrow DWA Tactical Balanced Instl Grades
Year to date, the fund has returned 7.4%, 1.0 percentage points worse than the category, which translates into a grade of C. The fund has returned 19.6% over the past year (grade of B), 9.4% over the past three years (grade of D) and 4.7% per year over the past five years (grade of C) and 5.8% per year over the past 10 years (grade of C).
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DWANX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DWANX Return (NAV) | -0.5% | -2.8% | 19.6% | 9.4% | 4.7% | 5.8% |
| DWANX Grade | C | F | B | D | C | C |
| +/- Category | 0.3% | -4.3% | 3.4% | -1.2% | -0.6% | -0.5% |
| Tactical Allocation Avg | -0.9% | 1.5% | 16.2% | 10.6% | 5.3% | 6.3% |
| DWANX Tax Cost Ratio | na | na | 3.3% | 1.8% | 1.8% | 1.7% |
DWANX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DWANX Return (NAV) | 7.4% | 16.0% | 6.1% | 1.5% | -5.1% | 4.9% | 21.4% | 11.1% | -9.8% | 13.1% | 0.2% |
| DWANX Grade | C | B | D | F | A | F | A | D | F | C | F |
| +/- Category | -1.0% | 3.4% | -2.8% | -9.3% | 8.1% | -7.8% | 11.2% | -2.4% | -3.5% | -0.0% | -5.4% |
| Tactical Allocation Avg | 8.4% | 12.7% | 8.9% | 10.8% | -13.1% | 12.7% | 10.2% | 13.5% | -6.2% | 13.2% | 5.6% |
| Risk Measures | |
| Standard Deviation: | 9.7% |
| Total Risk Index: | 0.79 - Average |
| Category Risk Index: | 0.95 - Average |
| Category Risk Grade: | C (50% Rank) |
| Beta: | 0.87 |
| R-Squared: | 70% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Extensive Sensitivity |
| Yield: | 1.9% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $26 Mil |
| Fund Total Assets: | $ 4 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 106% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 12.0 years | |||
| Average Tenure: 12.0 years | |||
| Managers (Year): Guyer Jonathan (2014), Barrato Joseph (2014) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 131 |
| % in Top 10 Holdings: | 49.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 18.4% |
Portfolio Allocation |
|
| Domestic Stock: | 31.3% |
| Foreign Stock: | 17.4% |
| Preferred Stock: | 0.5% |
| Domestic Bond: | 19.1% |
| Foreign Bond: | 1.0% |
| Convertible Bond: | 3.7% |
| Other: | 13.6% |
| Cash: | 13.4% |
Purchase Information
| Fund Family: | Arrow Funds |
| Phone Number: | 877-277-6933 |
| Website: | www.arrowfunds.com |
| Status: | Open |
| Inception Date: | March 21, 2012 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 1.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 2.12% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.76% |
| Share Class: | Arrow DWA Tactical Balanced A |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
