An arrow broadhead having a pair of cutting blades held in a retracted position during arrow flight and extending outwardly in an expanded position upon arrow contact. The subject broadhead includes a pair of pivot arms or sliding arm received in an elongated groove in a cutting blade housing body. The pivot arms or sliding arm are attached to one end of the cutting blades. At least a portion of the cutting blades are folded into the groove during arrow flight. Upon target contact, the pivot arms or sliding arm pivot the cutting blades outwardly from opposite sides of the groove into an expanded position for increased cutting and penetration in the target.