Arrow Dow Jones Global Yield ETF (GYLD)
For Diversified Yield and Total Return
GYLD provides global exposure to traditional and alternative sources of yield. GYLD seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones Global Composite Yield IndexSM. The Index is a multi-asset class composite comprised of equally weighted exposure across five global yield sub-index categories.
The three Dow Jones equity sub-indexes provide global exposure to corporate stocks, real estate, and alternative assets, primarily through Master Limited Partnerships (MLPs), as well as energy-related preferred stocks, andCanadian Royalty Trusts (CRTs). The two Credit Suisse fixed income sub-indexes are comprised of global corporate and government fixed income securities.
Dow Jones Global Composite Yield Index (Bloomberg Symbol: DJGYLDT)
Composition based on target rebalance weights are subject to change with market fluctuation.
- The Index is equally-weighted to reduce over-exposure to individual securities, as typically experienced by cap-weighted indexes.
- Equally-weighted across 5 sub-indexes (20% allocation to each basket).
- 30 holdings are equally-weighted within each basket (150 total holdings).
- Index methodology follows a strict screening process with quarterly rebalancing.
- Risk management and diversification
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The Arrow Dow Jones Global Yield ETF may not be suitable for all investors. The fund is new and has a limited performance record. The fund may not replicate the exact performance of the benchmark because of fees, expenses, trading costs and portfolio tracking error. 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. Fixed income securities may be subject to risks associated with interest rate fluctuations. International investments may involve additional risks, including, but not limited to, currency fluctuation, differences in generally accepted accounting principles, economic differences, and political instability. Emerging markets involve heightened risks related to the same factors as well as increased volatility and 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. High yielding stocks and non-investment grade bonds are often higher risk investments which may be subject to greater volatility due to such factors as corporate developments, interest rate sensitivity, negative perceptions whether factual or not, and adverse economic conditions. Master Limited Partnerships (MLPs) and Royalty Investment Trusts (RITs) have specific risks, including, among others, limited voting rights, energy demand, limited call rights of the general partner, and changes in tax laws. In order to qualify for the tax treatment of a regulated investment company (RIC) the fund’s exposure to MLPs cannot exceed 25%, or the fund may be subject to corporate tax status which would reduce the overall performance. Investments in securities of real estate companies involve risks including, among others, adverse changes in national, state or local real estate conditions domestically or abroad; obsolescence of properties; changes in the availability, cost and terms of mortgage funds; and the impact of changes in environmental or tax laws.