ISHARES INC

Ticker: EWL CUSIP: 464286749 Class: MSCI SWITZERLAND

Arrow Investment Advisors, LLC's Holding History (CIK: 0001378410)

Note: Option positions (PUT/CALL) are excluded.

Q1 2016
Shares 135,886 Value ($000) $4,040 Avg Close — Range —
Q2 2014
Shares 391,850 Value ($000) $13,448 Avg Close — Range —
Q1 2014
Shares 333,100 Value ($000) $11,439 Avg Close — Range —
Q4 2013
Shares 334,400 Value ($000) $11,032 Avg Close — Range —
Q3 2013
Shares 341,350 Value ($000) $10,681 Avg Close — Range —
Q2 2013
Shares 347,250 Value ($000) $9,949 Avg Close — Range —