Arrow Funds Adds Two ETFS to E*TRADE's Commission-

LAUREL, MD --(Marketwired - May 03, 2017) - Arrow Funds today placed two ArrowShares exchange-traded funds (ETFs) on E*TRADE's Commission-Free ETF platform. ¹ The firm's flagship ETF, Arrow Dow Jones Global Yield ETF ( NYSE : GYLD ), as well as the Arrow DWA Tactical ETF ( NASDAQ : DWAT ) can now be bought and sold without paying brokerage commissions via E*TRADE's platform.

"We are pleased to enhance accessibility to two Arrow ETFs that can help investors meet specific portfolio needs," said Joseph Barrato, CEO and Director of Investment Strategy at Arrow Funds. "The Arrow Dow Jones Global Yield ETF addresses the income challenge that so many investors currently face, while the Arrow DWA Tactical ETF offers an attractive option for investors seeking a global macro strategy."

Benchmarked to the Dow Jones Global Composite Index℠, the Arrow Dow Jones Global Yield ETF (GYLD) provides global, multi-asset exposure to traditional and alternative sources of yield, including Global Sovereign Debt, Global Equity, Global Real Estate, Global Alternatives (Master Limited Partnerships) and Global Corporate Debt. GYLD is equally weighted across its five yield categories to reduce over-exposure to individual securities, as typically experienced by cap-weighted indexes. The ETF has a 30-Day SEC Yield of 6.69% and a Distribution Rate of 6.48% as of the latest distribution on April 17, 2017.

The Arrow DWA Tactical ETF (DWAT) , on the other hand, provides an active strategy that leverages the technical analysis expertise of Dorsey, Wright & Associates (DWA) to respond to changing market conditions. Based on the DWA Systematic Global Macro Model, DWAT allocates to those market segments demonstrating the strongest relative strength among Global Equities, Global Fixed Income and Global Alternatives such as real estate, currencies and commodities. DWAT's strict relative strength buy and sell discipline offers a sharp contrast to many other global macro strategies that rely primarily on subjective macroeconomic analysis with the risk of manager bias.

"As investors' level of sophistication grows, so does their interest and awareness of ETFs beyond the mainstream as they seek nuanced strategies that can be deployed for specific opportunities," said Rich Messina, SVP, Investment Product Management at E*TRADE. "With the addition of two Arrow ETFs, we continue in our pursuit to offer our customers a robust range of investment choices that are commission-free to trade."

In addition to GYLD and DWAT which are now available on E*TRADE's Commission-Free ETF platform, Arrow also offers the Arrow QVM Equity Factor ETF (QVM) and the Arrow Reserve Capital Management ETF (ARCM) and a full suite of mutual funds.

About Arrow: Arrow Funds, including the exchange traded product line ArrowShares, is a company that offers targeted portfolio solutions for ever-changing markets. The company's vision is to be recognized as the leading provider of alternative and tactical investment solutions with a focus on education, research and client service as the cornerstones. To learn more, visit www.ArrowFunds.com .

Before investing, please read the prospectus and shareholder reports to learn about the investment strategy and potential risks. Investing involves risks, including the potential for loss of principal. An investor should consider the fund's investment objective, charges, expenses and risks carefully before investing. This and other information about the fund is contained in the fund's prospectus, which can be obtained by calling 1-877-277-6933.

Arrow Dow Jones Global Yield ETF may not be suitable for all investors. 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, accounting methods, and geopolitical instability. Emerging markets involve heightened risks related to the same factors as well as increased volatility and potentially 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. 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 tax law changes. In order to qualify for the tax treatment of a regulated investment company (RIC) the fund's exposure to MLPs can not exceed 25%, or may be subject to corporate taxes which would reduce performance. Investments in securities of real estate companies involves risks including, among others, adverse changes in real estate conditions domestically or abroad, availability or obsolescence of properties, cost and terms of mortgages, and changes of laws.

Arrow DWA Tactical ETF may not be suitable for all investors. 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. The market price may be higher (premium) or lower (discount) than the Net Asset Value (NAV). The fund may invest in commodity-related securities, which may be subject to greater volatility than investments in traditional securities. The fund may invest in international and emerging market securities, which may be subject to special risks including fluctuations in currency, government regulation, differences in accounting standards and liquidity. Investing in small-cap securities may have special risks, including wider variations in earnings and business prospects than larger, more established companies. The fund may invest in real estate-related securities, which may be subject to mortgage-related risks and real estate market fluctuations. The fund may invest in fixed income securities, which are subject to risks including interest rate, credit and inflation.

1. You can buy and sell the exchange-traded funds (ETFs) available through the E*TRADE Securities commission-free ETF program without paying brokerage commissions. For margin customers, ETFs purchased through the program are not margin eligible for 30 days from the purchase date. To discourage short-term trading, E*TRADE Securities may charge a short-term trading fee on sales of participating ETFs held for less than 30 days.

Content reviewed by an affiliate, Archer Distributors, LLC (member FINRA). AD-050317