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AltShares Merger Arbitrage ETF (ARB)

ETF · Currency in USD · Last updated Jan 28, 2023

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$25.59
Year Range$24.48 - $26.18
EMA (50)$25.70
EMA (200)$25.53
Average Volume$31.15K

ARBShare Price Chart


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ARBPerformance

The chart shows the growth of $10,000 invested in AltShares Merger Arbitrage ETF in Aug 2022 and compares it to the S&P 500 index or another benchmark. It would be worth nearly $10,917 for a total return of roughly 9.17%. All prices are adjusted for splits and dividends.


-10.00%-5.00%0.00%5.00%SeptemberOctoberNovemberDecember2023
0.41%
-0.51%
ARB (AltShares Merger Arbitrage ETF)
Benchmark (^GSPC)

ARBCompare to other instruments

Search for stocks, ETFs, and funds to compare with ARB

AltShares Merger Arbitrage ETF

Popular comparisons: ARB vs. SPY

ARBReturns in periods

Returns over 1 year are annualized

PeriodReturnBenchmark
YTD-0.68%6.02%
1M-0.42%6.30%
6M0.40%-0.05%
1Y2.88%-6.42%
5Y3.28%13.54%
10Y3.28%13.54%

ARBMonthly Returns Heatmap


JanFebMarAprMayJunJulAugSepOctNovDec
20221.72%1.10%-0.72%2.33%-1.92%0.38%

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 0.64. A Sharpe ratio between 0 and 1.0 is considered sub-optimal.

The chart below displays rolling 12-month Sharpe Ratio.


-1.00-0.500.000.501.00SeptemberOctoberNovemberDecember2023
0.64
-0.27
ARB (AltShares Merger Arbitrage ETF)
Benchmark (^GSPC)

ARBDividend History

AltShares Merger Arbitrage ETF granted a 4.20% dividend yield in the last twelve months. The annual payout for that period amounted to $1.08 per share.


PeriodTTM202220212020
Dividend$1.08$1.08$0.00$0.73

Dividend yield

4.20%4.18%0.00%2.98%

ARBMonthly 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.


JanFebMarAprMayJunJulAugSepOctNovDec
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
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
2020$0.73

ARBDrawdowns Chart

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


-25.00%-20.00%-15.00%-10.00%-5.00%0.00%SeptemberOctoberNovemberDecember2023
-2.25%
-15.14%
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 5.11%, recorded on Jun 16, 2022. It took 36 trading sessions for the portfolio to recover.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-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
-2.57%Nov 2, 20226Nov 9, 2022
-1.89%Jun 17, 202134Aug 4, 202145Oct 7, 202179
-1.67%Aug 16, 202233Sep 30, 202217Oct 25, 202250
-0.92%Nov 4, 202121Dec 3, 202110Dec 17, 202131
-0.92%Aug 20, 202018Sep 15, 202018Oct 9, 202036
-0.51%Oct 14, 20213Oct 18, 20219Oct 29, 202112
-0.44%Aug 7, 20204Aug 12, 20204Aug 18, 20208

ARBVolatility Chart

Current AltShares Merger Arbitrage ETF volatility is 2.07%. 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%SeptemberOctoberNovemberDecember2023
2.07%
16.76%
ARB (AltShares Merger Arbitrage ETF)
Benchmark (^GSPC)