Abstract: An arrow that is easily assembled and exhibits improved concentricity between the arrowhead and the arrow shaft includes a hollow arrow shaft, an arrowhead having a tip and a cylindrical shank, and a bushing having a cylindrical section and a tapered section, wherein the cylindrical section of the bushing is received in an end of the hollow arrow shaft and secured to the hollow arrow shaft with an adhesive. The tapered section has a bore in which the shank portion of the arrowhead is received, and the shank portion of the arrowhead is secured within the bore using an adhesive. In accordance with an aspect of the invention, the cylindrical shank portion of the arrowhead has smooth surfaces that engage smooth surfaces of the bore extending through the tapered section of the bushing, whereby the absence of threads and other irregularities on the engaging surfaces between the arrowhead and the bushing improve concentricity among the arrowhead, bushing and arrow shaft.