Fund Prices & YTD Returns as of 3/4/2021				Performance Through 3/4/2021							Average Annual Returns Through 12/31/2020
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 DWA Tactical: Balanced Fund Class A
12.75	-0.14	-1.09%	2.00%	0.79%	4.65%	22.21%	7.27%	7.35%	5.15%	5.33%	21.06%	6.48%	6.38%	5.07%	5.25%
With Sales Charge(3)				-4.99%	-1.36%	15.20%	5.16%	6.08%	4.53%	4.90%	14.05%	4.39%	5.12%	4.45%	4.82%
Arrow DWA Tactical: Balanced Fund Class C
11.59	-0.13	-1.11%	1.85%	0.78%	4.43%	21.38%	6.48%	6.54%	4.37%	4.55%	20.30%	5.72%	5.59%	4.30%	4.47%
Arrow DWA Tactical: Balanced Fund Class I
13.00	-0.14	-1.07%	2.04%	0.85%	4.74%	22.55%	7.58%	7.62%	N/A	5.92%	21.43%	6.77%	6.66%	N/A	5.80%
Arrow DWA Tactical: Macro Fund Class A
9.80	-0.24	-2.39%	-0.61%	-4.58%	1.97%	12.57%	3.13%	6.57%	4.88%	3.45%	8.94%	3.86%	6.39%	5.46%	3.54%
With Sales Charge(3)				-10.09%	-3.91%	6.09%	1.11%	5.33%	4.26%	2.97%	2.69%	1.83%	5.15%	4.84%	3.06%
Arrow DWA Tactical: Macro Fund Class C
9.01	-0.21	-2.28%	-0.77%	-4.56%	1.81%	11.61%	2.36%	5.78%	4.10%	2.67%	8.21%	3.08%	5.62%	4.67%	2.77%
Arrow DWA Tactical: Macro Fund Class I
9.86	-0.24	-2.38%	-0.60%	-4.55%	2.00%	12.75%	3.37%	6.84%	N/A	6.75%	9.25%	4.14%	6.66%	N/A	6.96%
Arrow DWA Tactical: Income Fund Class A
5.36	-0.04	-0.74%	-2.01%	-2.72%	-0.76%	-17.99%	-5.44%	-2.00%	-0.97%	-1.50%	-16.55%	-4.82%	-1.35%	-0.52%	-1.37%
With Sales Charge(3)				-8.38%	-6.50%	-22.73%	-7.28%	-3.16%	-1.55%	-1.94%	-21.31%	-6.67%	-2.51%	-1.11%	-1.81%
Arrow DWA Tactical: Income Fund Class C
5.01	-0.03	-0.60%	-2.15%	-2.72%	-0.82%	-18.47%	-6.07%	-2.71%	-1.70%	-2.22%	-17.03%	-5.46%	-2.06%	-1.25%	-2.09%
Arrow DWA Tactical: Income Fund Class I
5.41	-0.04	-0.73%	-1.99%	-2.87%	-0.67%	-17.84%	-5.15%	-1.74%	N/A	-0.58%	-16.27%	-4.53%	-1.09%	N/A	-0.36%
Arrow Managed Futures Strategy Fund Class A
6.13	-0.04	-0.65%	1.49%	1.32%	8.88%	3.90%	1.23%	-0.43%	-1.83%	-0.90%	-4.13%	-3.87%	-0.21%	-1.65%	-1.05%
With Sales Charge(3)				-4.52%	2.68%	-2.08%	-0.74%	-1.62%	-2.40%	-1.44%	-9.58%	-5.75%	-1.38%	-2.23%	-1.60%
Arrow Managed Futures Strategy Fund Class C
5.76	-0.04	-0.69%	1.23%	1.23%	8.68%	3.04%	0.45%	-1.14%	-2.54%	-1.62%	-4.85%	-4.55%	-0.90%	-2.36%	-1.76%
Arrow Managed Futures Strategy Fund Class I
6.21	-0.04	-0.64%	1.47%	1.31%	8.95%	4.19%	1.50%	-0.21%	N/A	-0.09%	-3.92%	-3.59%	0.04%	N/A	-0.25%