Arrow Reserve Capital Management
ALTAR
Score™
1.6% info Median Credit
S&P/Moody's
A/A3
 
Yield to
Maturity
2.1% Current
Yield
2.1%
Macaulay
Duration
0.5 yrs Modified
Duration
0.5%


  • Description
  • Performance
  • Fundamentals
  • Rate Sensitivity
  • Rating
The Arrow Reserve Capital Management ETF is an actively managed fund that seeks to preserve capital and maximize income potential by investing in investment-grade, short-term debt securities.

FUND BASICS
Category Corporate
Fund Sponsor Arrow Investment Advisors
Website www.arrowshares.com
Inception date Mar 31, 2017
Assets (mns) $56
Currency USD
Expense ratio 42 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication

ISSUER TYPE BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents 60
No of distinct issuers 50
Inflation protected 0%
Variable/Fixed coupon 71% /29%
Non-standard maturity (callable, etc.) 20%

TOP TEN HOLDINGS
UNITED STATES TREASUR 0.0% 8/20/19 6.5 %
UNITED STATES TREASUR 0.0% 7/23/19 4.0 %
0.0% 7/18/19 2.7 %
0.0% 3/15/20 2.7 %
0.0% 12/20/19 2.7 %
0.0% 11/01/19 2.7 %
0.0% 1/10/20 2.5 %
0.0% 5/11/20 2.4 %
0.0% 9/18/20 2.4 %
0.0% 9/10/19 2.4 %
   
TOTAL 31.1 %

TOP ISSUERS
U.S. TREASURY11.3%
CATERPILLAR FINANCIAL SERVICES COR...3.6%
MEDTRONIC, INC.3.0%
MARTIN MARIETTA MATERIALS, INC.3.0%
UNITED TECHNOLOGIES CORPORATION3.0%

TOP COUNTRY EXPOSURE
UNITED STATES 93.4 %
CANADA 3.7 %
SINGAPORE 2.4 %

 





HISTORICAL RETURNS info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
2.2% 2.5% -- -- 1.7%

Market Correlations
versus... Beta R-squared
Barclays Agg. Bond -0.00 0%
S&P500 0.01 5%
MSCI EAFE 0.01 3%
MSCI Emg. Mkts. 0.00 0%

Technical Indicators
Recent close $100.19
30d moving avg. $100.15
Annualized volatility 0.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 66
Liquidity measures
Avg. volume (thou.) 3
Avg. daily value traded (mns) $0
Turnover 0.5%
Bid/Ask (% of price) 0.16

Distributions


Yield Comparison

*Fund Category: CORPORATE

CREDIT QUALITY: MOODY'S

DISTRIBUTION YIELD (TRAILING 12 MONTHS)
Macaulay Duration info
 
ARCM 0.5 yrs Category
Avg.*
4.6 yrs
 

Modified Duration info
 
ARCM 0.5% Category
Avg.*
4.6%

RATE SENSITIVITY ANALYSIS info
Change
in YTM
New
YTM
Est. Price
Change
Est. New
Price
+300 bp 5.10% -1.8% $98.39
+200 bp 4.10% -1.1% $99.05
+150 bp 3.60% -0.8% $99.36
+100 bp 3.10% -0.5% $99.65
+75 bp 2.85% -0.4% $99.79
+50 bp 2.60% -0.3% $99.93
+25 bp 2.35% -0.1% $100.06
0 bp 2.10% 0% $100.19
-25 bp 1.85% 0.1% $100.31
-50 bp 1.60% 0.2% $100.43
-75 bp 1.35% 0.4% $100.54
-100 bp 1.10% 0.5% $100.65
-150 bp 0.60% 0.7% $100.86
-200 bp 0.10% 0.9% $101.05
-300 bp -0.90% 1.2% $101.38

*Fund Category: CORPORATE

ALTAR Score™


Calculation of ALTAR Score™
Adj. Yield to Maturity info 210 bp
Less: Annual "default factor" info 8 bp
Less: Expense ratio 42 bp
Equals: ALTAR Score 1.60 %
 

Average ALTAR Score™ by Category
Aggregate 1.7%
Corporate 2.3%
Emerging Market 3.6%
Government 1.7%
Inflation Protected 1.8%
Mortgage 2.8%
Municipals 2.3%
 
*Note: The Arrow Reserve Capital Management is classified as a Corporate fund.

 

Our estimate of the impact of potential defaults on investor returns, based on historical default and recovery rates for bonds of similar credit rating and maturities.
See RATING tab for calculations of ALTAR Score™
Estimate of fund sensitivity to interest rate changes based on modified duration and convexity adjustment applied to underlying bonds. Note: Less meaningful for inflation-indexed bonds.
Adds expected inflation to real YTM for inflation-linked bonds so that all instruments are compared on a nominal basis
Weighted-average term to maturity of the cash flows from a bond. All else being equal, bonds of longer duration are more sensitive to changes in interest rates than bonds of shorter duration.
Approximation of the change in bond prices given a 100 basis point shift in interest rates. A better estimate, particularly for larger moves in interest rates, is provided by the Rate Sensitivity Analysis below.