Arrow Reverse Cap 500 ETF RVRS

The investment seeks to track the performance, before fees and expenses, of the Reverse Cap Weighted U.S. Large Cap Index (the "index"). Under normal circumstances, at least 80% of the fund's total assets (exclusive of any collateral held from securities lending) will be invested in the component securities of the index. The index is a rules-based, reverse capitalization weighted index comprised of the constituents of the S&P 500® Index, which consists of approximately 500 leading U.S.-listed companies representing approximately 80% of the U.S. equity market capitalization.