AltShares Merger Arbitrage ETF (ARB)
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
| Issuer | Water Island Capital Partners LP |
|---|---|
| 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 features an expense ratio of 0.87%, falling within the medium range.
Share Price Chart
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Compare to other instruments
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Popular comparisons: ARB vs. SPY, ARB vs. VOO, ARB vs. VEQT.TO, ARB vs. ARCC, ARB vs. EVNT, ARB vs. FPRO, ARB vs. QIS, ARB vs. CDX, ARB vs. HFND, ARB vs. ^GSPC
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.
Returns By Period
AltShares Merger Arbitrage ETF had a return of 4.41% year-to-date (YTD) and 6.22% in the last 12 months.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 4.41% | 25.48% |
| 1 month | 0.32% | 2.14% |
| 6 months | 3.96% | 12.76% |
| 1 year | 6.22% | 33.14% |
| 5 years (annualized) | N/A | 13.96% |
| 10 years (annualized) | N/A | 11.39% |
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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -0.49% | 1.17% | 0.93% | -1.83% | 0.73% | 0.16% | 1.59% | 1.00% | 0.36% | 0.85% | 4.41% | ||
| 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% |
| 2022 | 0.17% | 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 rank of ARB is 62, suggesting that the investment has average results relative to other ETFs in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
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.
Dividends
Dividend History
AltShares Merger Arbitrage ETF provided a 0.00% dividend yield over the last twelve months, with an annual payout of $0.00 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Dividend | $0.00 | $0.00 | $1.08 | $0.00 | $0.73 |
Dividend yield | 0.00% | 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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $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. Drawdowns are calculated considering price movements and all distributions paid, if any.
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 0.75%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -5.6% | Nov 2, 2022 | 138 | May 22, 2023 | 77 | Sep 12, 2023 | 215 |
| -5.11% | Dec 20, 2021 | 124 | Jun 16, 2022 | 36 | Aug 9, 2022 | 160 |
| -3.62% | May 11, 2020 | 9 | May 21, 2020 | 37 | Jul 15, 2020 | 46 |
| -3.16% | Jan 11, 2021 | 22 | Feb 10, 2021 | 44 | Apr 15, 2021 | 66 |
| -2.13% | Apr 4, 2024 | 21 | May 2, 2024 | 50 | Jul 16, 2024 | 71 |
Volatility
Volatility Chart
The current AltShares Merger Arbitrage ETF volatility is 1.31%, 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.