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Arrow Reserve Capital Management ETF (ARCM)
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ARCM Information Statement 4-15-19

The Arrow Reserve Capital Management 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 use of fixed income securities is subject to risks including interest rate, credit, prepayment, issuer-specific, regulatory and inflation. The fund’s use of derivatives such as futures, options and swap agreements may expose the fund to additional risks that it would not be subject to if it invested directly in the securities underlying those derivatives. The fund’s use of asset-backed and mortgage-backed securities are subject to risks including non-payment of borrows resulting the potential for under collateralized debt valuations and payments. This fund is not a money market.
























































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Arrow Reserve Capital Management ETF
  • Overview
  • Performance
  • Holdings
  • Distributions
  • Premium/Discount
 

Arrow Reserve Capital Management ETF
Conservative Ultra Short-Term Fixed Income Strategy

Investment Strategy
Seeks to preserve capital while maximizing current income.
Fund Highlights
  • Conservative ultra short-term fixed income
           strategy
  • Designed to provide an alternative to low
           yielding money market and non-yielding cash
           positions
  • Sub-advised by Halyard Asset
           Management, LLC
    		•

    Conservative Ultra Short-Term Fixed Income
     The Arrow Reserve Capital Management ETF (ARCM) is a conservative ultra short-term fixed income fund that invests in a variety of investment grade fixed income securities with maturities generally ranging from 0 to 2 years. The fund is sub-advised by Halyard Asset Management, LLC, leaders in reserve capital and fixed income strategies.

    ARCM is actively managed in an attempt to maximize income potential without substantially increasing portfolio risk. The fund tries to identify holdings that offer an acceptable yield and return potential for a given level of credit risk and maturity.

    Portfolio Exposure
     Rather than being constrained to a narrow set of investments, ARCM's portfolio may provide exposure to a variety of domestic fixed income holdings including corporate, agency and government securities. The fund may also use futures and forward contracts in an attempt to gain exposure to a particular group of securities or asset class without actually purchasing those securities, or to hedge interest rate risk. In general, the fund has a flexible approach in order to achieve a conservative ultra short–term fixed income portfolio.

    Duration is a measure used to estimate the sensitivity of a security's price to changes in interest rates—the longer a security's duration, the more sensitive it will be. The average duration of ARCM's portfolio is generally expected not to exceed eighteen months and will vary depending on interest rate forecasts and other market factors.

    Reserve Capital Management
     ARCM should appeal to investors who are looking for a choice beyond low yielding money markets and non-yielding cash positions. ARCM is a conservative ultra short-term fixed income fund and is not a money market fund. By taking a conservative approach to volatility and yield, ARCM intends to reduce the gap between cash/money market and the bond funds based on historical market yield and volatility.
    Profile Market Data as of 06/30/2020
    Symbol ARCM NAV Price $100.23
    Exchange CBOE NAV Price Change $-0.06
    Inception Date 03/31/2017 Market Price¹ $100.38
    Cusip 042765719 Market Price Change $-0.04
    Net Expense Ratio³ 0.42% Premium/Discount 0.15
    IOPV Ticker ARCM.IV Shares Outstanding 510,000
        Volume 0
      Total Net Assets $51,117,300.00
    Analytics  
    30-Day SEC Yield² 2.01%
    Distribution Rate² 2.28%
    View all distributions
    Gross Expense Ratio30.54%



    ¹Market Price or Bid/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 0.42% by a contractual waiver effective through 11/30/2020, subject to cap removal by Board approval upon 60 days notice. Before the fee waiver of -0.12%, expenses would include the 0.30% management fee and 0.24% other expenses, for a total expense of 0.54%. Effective 12/1/2020, the total operating expenses will be capped at 50% by a contractual waiver effective through 5/31/2021, subject to cap removal by Board approval upon 60 days notice.   

    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.

    Shares of exchange traded products 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 exchange traded funds/products, and do not represent the returns you would receive if you traded shares at other times. 

    Glossary of Terms

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