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Arrow Dogs of the World ETF (DOGS)
Prospectus
Summary Prospectus
Fact Sheet
SAI

The Arrow DOGS of the World ETF may not be suitable for all investors. New funds have a limited performance record. Exchange traded products are bought and sold at market price, not NAV, and are not individually redeemed from the fund. Buying and selling shares generally results in brokerage commissions which will reduce returns. The market price may be higher (premium) or lower (discount) than the Net Asset Value (NAV). The fund’s portfolio may underperform its benchmark and/or other asset classes. The fund’s portfolio may underperform the general equity markets, or other asset classes, with the potential for greater individual security risk, asset class risk, and higher industry concentration risk than more broadly diversified portfolios. The fund may invest in large-cap, mid-cap, and small-cap securities. Investing in small-cap and mid-cap securities may have special risks, including wider variations in earnings and business prospects than larger, more established companies. International investments may involve additional risks, including, but not limited to, currency fluctuation, accounting methods, and geopolitical instability. Emerging markets involve heightened risks related to the same factors as well as increased volatility and potentially lower trading volume. Changes in laws, domestically or abroad, could result in the inability of the fund to operate as described in the prospectus. Narrowly focused investments may be subject to higher volatility.




































































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Arrow Dogs of the World ETF
  • Overview
  • Performance
  • Holdings
  • Distributions
  • Premium/Discount
 

Arrow DOGS of the World ETF

Investment Strategy

Seeks long-term capital appreciation that corresponds generally to the performance, before fees and expenses, of the AI Dogs of the World Index (ex. USA). The index selects the five worst performing countries where a return reversal or move back toward the mean (or average) is anticipated. The index has a contrarian approach that looks for deep value among a universe of 44 countries.

Fund Highlights

  • Global Value– mean reversion focus
  • May provide low correlation to domestic equity market
  • Diversification tool for traditional international portfolios
         (Growth and Cap-weighted)
  • Unique approach to international equity markets
  • May be negatively correlated within and across countries

  • AI Dogs of the World Index
  • Foreign universe: 44 countries from the developed, emerging market and frontier markets
  • Country stock baskets will represent the top 75% of the market capitalization
  • Security screens– a company's location and economic ties will determine its country designation
  • Index methodology follows a strict screening process

  • Mean Reversion Effect Among Countries
    The mean reversion anomaly is one of the oldest anomalies described by academia. It was originally discovered between stocks in one country, but subsequent academic studies have shown it also works on broad country market exposure, and its performance shows strong consistency. One fundamental reason to explain the mean reversion anomalies across countries is insufficient cross-border equity flows due to investors' fears of capital controls. Another explanation is behavioral biases in investors' behavior. The AI Dogs of the World Index was developed to exploit this anomaly. The Arrow Dogs of the World ETF provides investors a low cost and packaged solution to access this trading strategy.

    Contrarian Approach
    The index selects the five worst
    performing
    countries.
    *



    *30% of the overall allocation will be to the worst performing country.
    Profile Market Data as of 06/21/2018
    Symbol DOGS NAV Price $48.59
    Exchange NYSE NAV Price Change $-0.83
    Inception Date 01/03/2018 Market Price¹ $49.31
    Cusip 042765693 Market Price Change $-0.48
    Related Index AI Dogs of the World Index (ex USA) Premium/Discount 0.72
    Gross Expense Ratio³ 0.70% Shares Outstanding 100,000
    IOPV Ticker DOGS.IV Volume 49
    Related Index Ticker ADOGXTR Total Net Assets $4,859,000.00
    ¹Bid/Ask Midpoint as of market close.

    ²SEC Yield and Distribution Rate calculations are based on most recent Ex-Date. Distribution Rate reflects the total distributions over the previous 12 months. SEC Yield and Distribution Rate may include income, dividends, return of capital, or other distributions that are not considered short-term or long-term capital gains. Return of capital is considered a return of the investment principal and is not derived from net profits.

    ³Total operating expenses are capped at 0.65% by a contractual waiver effective through 12/31/2018, subject to cap removal by Board approval upon 60 days notice. Before the fee waiver of -0.05%, expenses include the 0.60% management fee and 0.10% other expenses, for a total expense of 0.70%.    

    Past performance is no guarantee of future results. The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost.

    ArrowShares are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Brokerage commissions will reduce returns.

    Market returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. ET when NAV is normally determined for most ArrowShares, and do not represent the returns you would receive if you traded shares at other times. 

    Glossary of Terms

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    Before investing, please read the prospectus and shareholder reports to learn about the investment strategy and potential risks. Investing involves risk including loss of principal. An investor should also consider the investment objective, charges, expenses, and risk carefully before investing. This and other information is contained in the prospectus, which can be obtained by calling 1-877-277-6933. Please read the prospectus carefully before investing. Content reviewed by an affiliate, Archer Distributors, LLC.

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