Arrow Long/Short Alternative Class

The investment objective of the ETF is to achieve superior capital appreciation. This ETF is an alternative ETF. It has the ability to invest in asset classes or use investment strategies that are not permitted for conventional ETFs. The specific strategies that differentiate this ETF from conventional ETFs include increased use of derivatives for hedging and non-hedging purposes; increased ability to sell securities short; and the ability to borrow cash to use for investment purposes. While these strategies will be used in accordance with the ETFs investment objectives and strategies, during certain market conditions they may accelerate the pace at which your investment decreases in value.