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AltShares Merger Arbitrage ETF (ARB)

ETF · Currency in USD · Last updated Sep 27, 2022

ARB is a passive ETF by Water Island Capital Partners LP tracking the investment results of the Water Island Merger Arbitrage USD Hedged Index. ARB launched on May 7, 2020 and has a 0.87% expense ratio.

ETF Info

IssuerWater Island Capital Partners LP
Inception DateMay 7, 2020
RegionNorth America (U.S.)
CategoryHedge Fund
Expense Ratio0.87%
Index TrackedWater Island Merger Arbitrage USD Hedged Index
Asset ClassAlternatives

Asset Class Size

Multi-Cap

Asset Class Style

Blend

Trading Data

Previous Close$26.82
Year Range$25.50 - $27.09
EMA (50)$26.75
EMA (200)$26.37
Average Volume$8.29K

ARBShare Price Chart


Chart placeholderClick Calculate to get results

ARBPerformance

The chart shows the growth of $10,000 invested in AltShares Merger Arbitrage ETF in Jan 2010 and compares it to the S&P 500 index or another benchmark. It would be worth nearly $10,562 for a total return of roughly 5.62%. All prices are adjusted for splits and dividends.


-20.00%-15.00%-10.00%-5.00%0.00%AprilMayJuneJulyAugustSeptember
0.76%
-19.32%
ARB (AltShares Merger Arbitrage ETF)
Benchmark (^GSPC)

ARBReturns in periods

Returns over 1 year are annualized

PeriodReturnBenchmark
1M-0.66%-9.92%
6M1.02%-19.55%
YTD2.18%-23.31%
1Y3.41%-17.97%
5Y-21.76%11.00%
10Y-9.97%12.74%

ARBMonthly Returns Heatmap


JanFebMarAprMayJunJulAugSepOctNovDec
20220.17%0.61%0.63%-0.62%-0.66%-0.31%1.72%1.10%-0.45%
2021-0.27%-0.82%0.88%1.27%0.90%-0.14%-0.64%0.40%0.04%0.96%0.00%0.55%
20200.00%0.00%0.00%0.00%-50.28%-0.41%4.19%0.12%-0.22%0.97%1.01%0.43%
20190.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
20180.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
20170.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
20160.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
20150.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
20140.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
20130.47%-0.13%0.06%-0.38%0.47%-0.98%-1.05%2.39%2.00%0.00%0.00%0.00%
20123.78%-6.36%10.59%2.89%-12.12%4.67%0.20%0.29%7.76%-4.06%0.03%28.35%
20110.41%-4.51%0.55%-3.37%10.39%-3.21%-5.35%-4.01%-11.90%20.10%-5.34%-8.51%
20100.08%-15.05%24.00%15.57%-1.14%-15.86%12.76%-11.97%9.94%-9.47%15.40%42.09%

ARBSharpe Ratio Chart

The Sharpe ratio shows whether the portfolio's excess returns are due to smart investment decisions or a result of taking a higher risk. The higher a portfolio's Sharpe ratio, the better its risk-adjusted performance.

The current AltShares Merger Arbitrage ETF Sharpe ratio is 0.53. A Sharpe ratio between 0 and 1.0 is considered sub-optimal.

The chart below displays rolling 12-month Sharpe Ratio.


-1.00-0.500.000.501.00AprilMayJuneJulyAugustSeptember
0.53
-0.83
ARB (AltShares Merger Arbitrage ETF)
Benchmark (^GSPC)

ARBDividend History

AltShares Merger Arbitrage ETF granted a 0.00% dividend yield in the last twelve months. The annual payout for that period amounted to $0.00 per share.


PeriodTTM202120202019201820172016201520142013201220112010
Dividend$0.00$0.00$0.73$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

Dividend yield

0.00%0.00%2.86%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

ARBDrawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way.


-50.00%-40.00%-30.00%-20.00%-10.00%0.00%OctoberNovemberDecember2022FebruaryMarchAprilMayJuneJulyAugustSeptember
-44.35%
-23.80%
ARB (AltShares Merger Arbitrage ETF)
Benchmark (^GSPC)

ARBWorst Drawdowns

The table below shows the maximum drawdowns of the AltShares Merger Arbitrage ETF. A maximum drawdown is an indicator of risk. It shows a reduction in portfolio value from its maximum due to a series of losing trades.

The maximum drawdown since January 2010 for the AltShares Merger Arbitrage ETF is 50.94%, recorded on May 21, 2020. The portfolio has not recovered from it yet.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-50.94%May 7, 202011May 21, 2020
-28.6%Feb 9, 2011133Aug 18, 2011335Dec 18, 2012468
-26.89%May 4, 201080Aug 25, 201074Dec 9, 2010154
-21.13%Jan 8, 201034Feb 26, 201025Apr 5, 201059
-5.74%Jan 4, 201112Jan 20, 20118Feb 1, 201120
-5.67%Apr 6, 20102Apr 7, 20109Apr 20, 201011
-3.66%Apr 30, 20101Apr 30, 20101May 3, 20102
-3.38%Feb 14, 2013128Aug 16, 201311Sep 3, 2013139
-2.63%Apr 27, 20102Apr 28, 20101Apr 29, 20103
-1.8%Dec 23, 20101Dec 23, 20106Jan 3, 20117

ARBVolatility Chart

Current AltShares Merger Arbitrage ETF volatility is 4.33%. The chart below shows the rolling 10-day volatility. Volatility is a statistical measure showing how big price swings are in either direction. The higher asset volatility, the riskier it is, because the price movements are less predictable.


0.00%10.00%20.00%30.00%40.00%AprilMayJuneJulyAugustSeptember
4.33%
13.19%
ARB (AltShares Merger Arbitrage ETF)
Benchmark (^GSPC)