White reflective wrap. White vanes.
Went this route 10+ years ago and found it works best for me. Many points listed above are correct (easier to find arrow both in flight and after the shot, yet have to refletch the entire arrow - wrap and vanes, if even one vane gets snagged or comes loose.).
Another aspect that is huge for me is finding my camp on elk hunting trips. May not apply to many here, but it is much easier to find my camp at night when returning from chores at night - filtering water from the stream or hanging the bear bag away from camp, for example. Just hang my bow about 5-6’ off the ground, go off to take care of things, and shine the headlamp lights up the wraps like crazy. Much better than stumbling around behind a tiny headlamp trying to find a tarp that is only about 30” off the ground and blends in like crazy amongst the aspens and underbrush. (A reflective paracord bear rope has also made it much easier to find that in the dark as well!)