Broadhead arrow
From UnReal World Wiki
Unlike normal arrows which deal point damage, broadhead arrows deal edge damage and are more likely to cause a bleeding wound.
Availability
Broadhead arrows cannot be crafted, so the only way to obtain them is by trading.
URW Game Encyclopedia description
The official URW in-game encyclopedia (accessed by the F1 key) describes the broadhead arrow thusly:
An arrow with the widest cutting head of all arrow types. They usually have two blades which are sharpened very carefully. Broadheads are designed to cause large cuts and inflict as much bleeding as possible. These arrows are effectively used to hunt large game. Even if the hunter wouldn't score immediately fatal hits the bleeding wounds that broadhead arrows can cause are often enough to kill the prey sooner or later.