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AltShares Merger Arbitrage ETF (ARB)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

ETF Info

Inception Date

May 7, 2020

Region

North America (U.S.)

Category

Hedge Fund

Leveraged

1x

Index Tracked

Water Island Merger Arbitrage USD Hedged Index

Asset Class

Alternatives

Asset Class Size

Multi-Cap

Asset Class Style

Blend

Expense Ratio

ARB has an expense ratio of 0.87%, placing it in the medium range.


Share Price Chart


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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in AltShares Merger Arbitrage ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.


20.00%40.00%60.00%80.00%100.00%120.00%December2025FebruaryMarchAprilMay
21.51%
96.58%
ARB (AltShares Merger Arbitrage ETF)
Benchmark (^GSPC)

Returns By Period

AltShares Merger Arbitrage ETF (ARB) returned 2.29% year-to-date (YTD) and 6.12% over the past 12 months.


ARB

YTD

2.29%

1M

0.79%

6M

1.20%

1Y

6.12%

5Y*

3.97%

10Y*

N/A

^GSPC (Benchmark)

YTD

-3.70%

1M

13.67%

6M

-5.18%

1Y

9.18%

5Y*

14.14%

10Y*

10.43%

*Annualized

Monthly Returns

The table below presents the monthly returns of ARB, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20251.39%0.97%0.19%-0.32%0.04%2.29%
2024-0.49%1.17%0.93%-1.83%0.73%0.16%1.59%1.00%0.36%0.85%-0.45%0.04%4.07%
2023-0.84%0.18%-0.89%0.98%-0.90%0.35%0.58%1.68%0.78%-0.04%0.79%1.14%3.85%
20220.17%0.61%0.63%-0.62%-0.66%-0.30%1.72%1.10%-0.72%2.33%-1.92%0.38%2.67%
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%3.16%
2020-2.26%-0.41%4.19%0.12%-0.21%0.97%1.01%0.43%3.78%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

With an overall rank of 95, ARB is among the top 5% of ETFs on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.


The Risk-Adjusted Performance Rank of ARB is 9595
Overall Rank
The Sharpe Ratio Rank of ARB is 9494
Sharpe Ratio Rank
The Sortino Ratio Rank of ARB is 9494
Sortino Ratio Rank
The Omega Ratio Rank of ARB is 9494
Omega Ratio Rank
The Calmar Ratio Rank of ARB is 9696
Calmar Ratio Rank
The Martin Ratio Rank of ARB is 9595
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for AltShares Merger Arbitrage ETF (ARB) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.


The current AltShares Merger Arbitrage ETF Sharpe ratio is 1.91. This value is calculated based on the past 1 year of trading data and takes into account price changes and dividends.

Use the chart below to compare the Sharpe ratio of AltShares Merger Arbitrage ETF with the selected benchmark, providing insights into the investment's historical performance in terms of risk-adjusted returns. Go to the Sharpe ratio tool for more fine-grained control over the calculation options.


Rolling 12-month Sharpe Ratio0.001.002.003.00December2025FebruaryMarchAprilMay
1.91
0.48
ARB (AltShares Merger Arbitrage ETF)
Benchmark (^GSPC)

Dividends

Dividend History

AltShares Merger Arbitrage ETF provided a 1.10% dividend yield over the last twelve months, with an annual payout of $0.31 per share.


0.00%1.00%2.00%3.00%4.00%$0.00$0.20$0.40$0.60$0.80$1.0020202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020
Dividend$0.31$0.31$0.00$1.08$0.00$0.73

Dividend yield

1.10%1.12%0.00%4.18%0.00%2.87%

Monthly Dividends

The table displays the monthly dividend distributions for AltShares Merger Arbitrage ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.00$0.00$0.00$0.00$0.00$0.00
2024$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.31$0.31
2023$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2022$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$1.08$1.08
2021$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2020$0.73$0.73

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.


-20.00%-15.00%-10.00%-5.00%0.00%December2025FebruaryMarchAprilMay
-0.28%
-7.82%
ARB (AltShares Merger Arbitrage ETF)
Benchmark (^GSPC)

Worst Drawdowns

The table below displays the maximum drawdowns of the AltShares Merger Arbitrage ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the AltShares Merger Arbitrage ETF was 5.60%, occurring on May 22, 2023. Recovery took 77 trading sessions.

The current AltShares Merger Arbitrage ETF drawdown is 0.28%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-5.6%Nov 2, 2022138May 22, 202377Sep 12, 2023215
-5.11%Dec 20, 2021124Jun 16, 202236Aug 9, 2022160
-3.62%May 11, 20209May 21, 202037Jul 15, 202046
-3.16%Jan 11, 202122Feb 10, 202144Apr 15, 202166
-2.13%Apr 4, 202421May 2, 202450Jul 16, 202471

Volatility

Volatility Chart

The current AltShares Merger Arbitrage ETF volatility is 0.69%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.


0.00%5.00%10.00%15.00%December2025FebruaryMarchAprilMay
0.69%
11.21%
ARB (AltShares Merger Arbitrage ETF)
Benchmark (^GSPC)