# Portfolio overlap — DWAFX vs SIZE

Comparing **Arrow DWA Tactical: Balanced Fund** (2026-04-30) and **iShares MSCI USA Size Factor ETF** (2026-01-31).

- Shared positions: 97
- Arrow DWA Tactical: Balanced Fund covered by iShares MSCI USA Size Factor ETF: 0.1500088613687983549953908854
- iShares MSCI USA Size Factor ETF covered by Arrow DWA Tactical: Balanced Fund: 0.1500088613687983549953908859

## Arrow DWA Tactical: Balanced Fund — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| Galaxy Plus Commodity Call Option | 0.084196 |  |
| ARROW VALTORO ETF | 0.071978 |  |
| INVESCO DB COMMODITY INDEX TRACKING FUND | 0.052549 |  |
| ISHARES TIPS BOND ETF MUTUAL FUND | 0.047241 |  |
| OPTION | 0.045119 |  |
| State Street SPDR Bloomberg Convertible Securities ETF | 0.044596 |  |
| iShares Trust IBOXX USD INVST GRADE CORP | 0.043038 |  |
| iShares 1-3 Yr Treas | 0.035467 |  |
| Galaxy Plus Financial Call Option | 0.029168 |  |
| FRST AM-GV OB-X | 0.028760 |  |
| Ishares Trust-Ishares Iiboxx $ High Yield Corporate Bond Etf | 0.027544 |  |
| Vanguard Small-Cap Growth ETF | 0.027525 |  |
| Vanguard Value Index Fund ETF | 0.026312 |  |
| ISHARES MSCI SOUTH KOREA ETF | 0.022265 |  |
| ISHARES MSCI ISRAEL ETF MUTUAL FUND | 0.021404 |  |
| Global X MSCI Colombia ETF | 0.018699 |  |
| ISHARES MSCI POLAND ETF MUTUAL FUND | 0.016406 |  |
| iShares MSCI Peru and Global Exposure ETF | 0.016159 |  |
| iShares MSCI Spain ETF | 0.016104 |  |
| iShares MSCI Singapore ETF | 0.016084 |  |
| iShares MSCI Italy ETF | 0.015505 |  |
| ISHARES MSCI SOUTH AFRICA ET MUTUAL FUND | 0.015196 |  |
| Global X MSCI Greece ETF | 0.014763 |  |
| ARROW RES CSH MG | 0.011390 |  |
| NEWMONT CORP | 0.009044 | ✓ |
| HASBRO INC | 0.009030 |  |
| FREEPORT MCMORAN INC | 0.008875 | ✓ |
| SILVER SEP 26 | 0.008411 |  |
| ALPHABET INC CL C | 0.006675 | ✓ |
| DOW INC | 0.004853 | ✓ |
| LYONDELLBASELL-A | 0.004753 | ✓ |
| JABIL INC | 0.004645 | ✓ |
| STEEL DYNAMICS INC | 0.004587 | ✓ |
| BUNGE GLOBAL SA | 0.004580 | ✓ |
| ROSS STORES INC | 0.004578 | ✓ |
| NUCOR CORP | 0.004560 | ✓ |
| TE CONNECTIVITY | 0.004470 | ✓ |
| ARCHER DANIELS MIDLAND CO | 0.004361 | ✓ |
| TJX COS INC | 0.004223 | ✓ |
| QUANTA SVCS INC | 0.003816 | ✓ |
| CORNING INC | 0.003576 | ✓ |
| EMCOR GROUP INC | 0.003474 | ✓ |
| AMPHENOL CORPORATION CL A | 0.003458 | ✓ |
| PHILLIPS 66 | 0.003294 | ✓ |
| COMFORT SYSTEMS USA INC | 0.003283 | ✓ |
| MARATHON PETROLEUM CORP | 0.003245 | ✓ |
| BAKER HUGHES CO | 0.003214 | ✓ |
| KEYSIGHT TECHNOLOGIES INC | 0.003198 | ✓ |
| COHERENT CORP | 0.003189 |  |
| OCCIDENTAL PETROLEUM CORP | 0.003139 | ✓ |

## iShares MSCI USA Size Factor ETF — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| BlackRock Cash Funds: Institutional, SL Agency Shares | 0.016432 |  |
| ECHOSTAR CORP CL A | 0.002985 |  |
| ROCKET LAB CORP | 0.002919 |  |
| MICRON TECHNOLOGY INC | 0.002803 | ✓ |
| DECKERS OUTDOOR CORP | 0.002661 |  |
| WESTERN DIGITAL CORP | 0.002655 |  |
| ENTEGRIS INC | 0.002644 |  |
| FREEPORT MCMORAN INC | 0.002542 | ✓ |
| SEAGATE TECHNOLO | 0.002525 |  |
| DOLLAR GENERAL CORP | 0.002524 |  |
| MICROCHIP TECHNOLOGY | 0.002472 | ✓ |
| TERADYNE INC | 0.002442 | ✓ |
| LAM RESEARCH CORP | 0.002426 | ✓ |
| LOCKHEED MARTIN CORP | 0.002399 | ✓ |
| SLB LTD | 0.002392 | ✓ |
| CH ROBINSON WORLDWIDE INC | 0.002361 |  |
| APPLIED MATERIALS INC | 0.002336 | ✓ |
| DOW INC | 0.002311 | ✓ |
| BALL CORP | 0.002298 |  |
| HALLIBURTON CO | 0.002284 | ✓ |
| ESTEE LAUDER COS INC CL A | 0.002266 |  |
| OLD DOMINION FRT | 0.002259 |  |
| TAPESTRY INC | 0.002256 |  |
| TEXAS INSTRUMENTS INC | 0.002253 | ✓ |
| ON SEMICONDUCTOR CORP | 0.002247 | ✓ |
| DEXCOM INC | 0.002230 |  |
| TYSON FOODS INC CL A | 0.002228 |  |
| HUNT J B TRANSPORT SERVICES IN | 0.002226 |  |
| KEYCORP | 0.002225 | ✓ |
| CENTENE CORP | 0.002221 |  |
| PACCAR INC | 0.002221 | ✓ |
| RELIANCE STEEL and ALUMINUM CO | 0.002215 |  |
| ULTA BEAUTY INC | 0.002209 |  |
| CONSTELLATION BRANDS INC CL A | 0.002208 |  |
| CHIPOTLE MEXICAN GRILL INC | 0.002202 |  |
| ANALOG DEVICES INC | 0.002201 | ✓ |
| IDEX CORPORATION | 0.002199 |  |
| ILLUMINA INC | 0.002193 |  |
| TELEDYNE TECHNOLOGIES INC | 0.002189 | ✓ |
| CITIZENS FINANCIAL GROUP INC | 0.002187 | ✓ |
| NORDSON CORP | 0.002185 |  |
| WARNER BROS DISCOVERY INC | 0.002182 |  |
| BUNGE GLOBAL SA | 0.002180 | ✓ |
| PPG INDUSTRIES INC | 0.002173 |  |
| CIENA CORP | 0.002173 | ✓ |
| CARVANA CO CL A | 0.002171 |  |
| SMURFIT WESTROCK | 0.002169 |  |
| NORTHROP GRUMMAN CORP | 0.002168 | ✓ |
| BLOOM ENERGY CORP CL A | 0.002161 |  |
| NUCOR CORP | 0.002159 | ✓ |


## Sources

- N-PORT (fund A) — accession `0000910472-26-010035` (as of 2026-04-30)
  <https://www.sec.gov/Archives/edgar/data/1527428/000091047226010035/0000910472-26-010035-index.htm>
- N-PORT (fund B) — accession `0001004726-26-001877` (as of 2026-01-31)
  <https://www.sec.gov/Archives/edgar/data/1100663/000100472626001877/0001004726-26-001877-index.htm>

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