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

ETF Info

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

Asset Class Size

Multi-Cap

Asset Class Style

Blend

Expense Ratio

ARB has a high expense ratio of 0.87%, indicating higher-than-average management fees.


Expense ratio chart for ARB: current value at 0.87% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.87%

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.


AltShares Merger Arbitrage ETF

Popular comparisons: ARB vs. SPY, ARB vs. VOO, ARB vs. VEQT.TO

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%December2024FebruaryMarchAprilMay
14.23%
84.16%
ARB (AltShares Merger Arbitrage ETF)
Benchmark (^GSPC)

S&P 500

Returns By Period

AltShares Merger Arbitrage ETF had a return of 0.07% year-to-date (YTD) and 8.12% in the last 12 months.


PeriodReturnBenchmark
Year-To-Date0.07%11.24%
1 month0.20%4.04%
6 months1.12%16.49%
1 year8.12%26.17%
5 years (annualized)N/A13.76%
10 years (annualized)N/A10.70%

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
2024-0.49%1.17%0.93%-1.83%0.07%
2023-0.83%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%2.66%
2021-0.27%-0.82%0.88%1.27%0.90%-0.14%-0.64%0.41%0.04%0.96%0.00%0.55%3.16%
2020-2.26%-0.41%4.19%0.12%-0.21%0.96%1.01%0.43%3.78%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current risk-adjusted rank of ARB is 75, placing it in the top 25% of ETFs on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.


The Risk-Adjusted Performance Rank of ARB is 7575
ARB (AltShares Merger Arbitrage ETF)
The Sharpe Ratio Rank of ARB is 6868Sharpe Ratio Rank
The Sortino Ratio Rank of ARB is 7171Sortino Ratio Rank
The Omega Ratio Rank of ARB is 8989Omega Ratio Rank
The Calmar Ratio Rank of ARB is 6565Calmar Ratio Rank
The Martin Ratio Rank of ARB is 8383Martin 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.


ARB
Sharpe ratio
The chart of Sharpe ratio for ARB, currently valued at 1.80, compared to the broader market0.002.004.006.001.80
Sortino ratio
The chart of Sortino ratio for ARB, currently valued at 2.72, compared to the broader market0.005.0010.002.72
Omega ratio
The chart of Omega ratio for ARB, currently valued at 1.46, compared to the broader market0.501.001.502.002.503.001.46
Calmar ratio
The chart of Calmar ratio for ARB, currently valued at 1.46, compared to the broader market0.005.0010.0015.001.46
Martin ratio
The chart of Martin ratio for ARB, currently valued at 10.88, compared to the broader market0.0020.0040.0060.0080.00100.0010.88
^GSPC
Sharpe ratio
The chart of Sharpe ratio for ^GSPC, currently valued at 2.43, compared to the broader market0.002.004.006.002.43
Sortino ratio
The chart of Sortino ratio for ^GSPC, currently valued at 3.44, compared to the broader market0.005.0010.003.44
Omega ratio
The chart of Omega ratio for ^GSPC, currently valued at 1.43, compared to the broader market0.501.001.502.002.503.001.43
Calmar ratio
The chart of Calmar ratio for ^GSPC, currently valued at 1.96, compared to the broader market0.005.0010.0015.001.96
Martin ratio
The chart of Martin ratio for ^GSPC, currently valued at 9.23, compared to the broader market0.0020.0040.0060.0080.00100.009.23

Sharpe Ratio

The current AltShares Merger Arbitrage ETF Sharpe ratio is 1.80. 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 Ratio1.001.502.002.503.00December2024FebruaryMarchAprilMay
1.80
2.43
ARB (AltShares Merger Arbitrage ETF)
Benchmark (^GSPC)

Dividends

Dividend 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.


PeriodTTM2023202220212020
Dividend$0.00$0.00$1.08$0.00$0.73

Dividend yield

0.00%0.00%4.18%0.00%2.86%

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
2024$0.00$0.00$0.00$0.00$0.00$0.00
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.


-5.00%-4.00%-3.00%-2.00%-1.00%0.00%December2024FebruaryMarchAprilMay
-1.69%
-0.29%
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 1.69%.


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, 2024

Volatility

Volatility Chart

The current AltShares Merger Arbitrage ETF volatility is 0.80%, 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.


1.00%2.00%3.00%4.00%December2024FebruaryMarchAprilMay
0.80%
3.00%
ARB (AltShares Merger Arbitrage ETF)
Benchmark (^GSPC)