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Under normal circumstances, substantially all of the Funds total assets is invested in the component securities of the Index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities (e.g., depositary receipts, exchange traded instruments). Strictly in accordance with its guidelines and mandated procedures of the index provider, the index selection methodology consists of long positions in the equity markets of foreign countries exhibiting relatively strong momentum characteristics among the foreign universe. The foreign universe will be composed of countries from the developed and emerging markets, excluding the United States. There is no consideration given to the allocation among developed and emerging markets; the strategy of the Index will allocate among them depending on global price trends.

Ishares Msci Turkey ETF

Ishares Msci Poland ETF

Ishares MSCI India ETF

Ishares Msci Spain Etf

Ishares Msci Taiwan Etf Usd

Ishares Msci Netherlands

Ishares Msci Italy Etf

Ishares Msci France Etf

Ishares Msci Brazil ETF Fund

Ishares Msci Mexico Etf

Arrow DWA Tactical International ETF

Arrow Investments Trust Arrow DWA Country Rotation ETF

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