Fund Prices & YTD Returns as of 9/24/2020				Performance Through 9/24/2020							Average Annual Returns Through 6/30/2020
NAV	NAV Daily Change	% Daily Change(1)	% YTD Return(2)	One Month	Three Month	One Year	Three Year	Five Year	Ten Year	Since Inception (4)	One Year	Three Year	Five Year	Ten Year	Since Inception(4)
Arrow Dynamic Income Fund Class A
5.92	-0.01	-0.17%	-21.19%	-1.82%	2.25%	-20.31%	-6.86%	-2.28%	-0.77%	-1.83%	-19.09%	-7.71%	-2.26%	-1.03%	-2.01%
With Sales Charge(3)				-7.50%	-3.58%	-24.91%	-8.68%	-3.44%	-1.35%	-2.28%	-23.70%	-9.52%	-3.41%	-1.61%	-2.47%
Arrow Dynamic Income Fund Class C
5.57	-0.01	-0.18%	-21.65%	-1.94%	2.01%	-20.98%	-7.53%	-3.04%	-1.51%	-2.56%	-19.62%	-8.38%	-2.98%	-1.77%	-2.73%
Arrow Dynamic Income Fund Class I
6.00	0.00	0.00%	-20.94%	-1.80%	2.39%	-19.90%	-6.54%	-2.01%	N/A	-1.04%	-18.64%	-7.40%	-1.97%	N/A	-1.29%
Arrow DWA Balanced Fund Class A
13.15	-0.03	-0.23%	13.75%	-0.53%	7.26%	12.79%	6.16%	5.39%	5.15%	4.89%	5.66%	4.76%	2.89%	5.40%	4.49%
With Sales Charge(3)				-6.27%	1.08%	6.27%	4.08%	4.15%	4.52%	4.45%	-0.44%	2.72%	1.69%	4.77%	4.05%
Arrow DWA Balanced Fund Class C
12.09	-0.03	-0.25%	13.20%	-0.58%	7.09%	11.92%	5.34%	4.60%	4.37%	4.11%	4.88%	4.00%	2.13%	4.62%	3.71%
Arrow DWA Balanced Fund Class I
13.39	-0.03	-0.22%	13.96%	-0.52%	7.38%	13.04%	6.44%	5.66%	N/A	5.20%	5.95%	5.04%	3.15%	N/A	4.53%
Arrow DWA Tactical Fund Class A
9.27	0.02	0.22%	-4.43%	-5.12%	5.46%	-2.41%	1.21%	4.08%	5.08%	2.53%	-3.02%	1.34%	1.87%	5.80%	2.26%
With Sales Charge(3)				-10.61%	-0.64%	-8.03%	-0.75%	2.85%	4.46%	2.04%	-8.60%	-0.65%	0.68%	5.18%	1.76%
Arrow DWA Tactical Fund Class C
8.52	0.02	0.24%	-5.02%	-5.23%	5.19%	-3.21%	0.41%	3.29%	4.27%	1.75%	-3.84%	0.53%	1.09%	5.00%	1.48%
Arrow DWA Tactical Fund Class I
9.33	0.02	0.21%	-4.31%	-5.18%	5.54%	-2.29%	1.41%	4.33%	N/A	5.53%	-2.92%	1.57%	2.10%	N/A	5.20%
Arrow Managed Futures Strategy Fund Class A
5.63	0.01	0.18%	-10.63%	-4.25%	-7.25%	-14.92%	0.90%	-2.37%	-1.78%	-1.75%	-5.76%	2.12%	0.33%	-1.09%	-1.11%
With Sales Charge(3)				-9.78%	-12.58%	-19.76%	-1.08%	-3.52%	-2.36%	-2.31%	-11.19%	0.13%	-0.84%	-1.68%	-1.68%
Arrow Managed Futures Strategy Fund Class C
5.31	0.01	0.19%	-11.20%	-4.32%	-7.33%	-15.58%	-0.12%	-3.07%	-2.49%	-2.46%	-6.37%	1.08%	-0.36%	-1.80%	-1.81%
Arrow Managed Futures Strategy Fund Class I
5.70	0.01	0.18%	-10.52%	-4.20%	-7.17%	-14.69%	1.18%	-2.13%	N/A	-1.09%	-5.43%	2.35%	0.60%	N/A	-0.29%