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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in First Trust 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.
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Returns By Period
First Trust Merger Arbitrage ETF (MARB) has returned 0.29% so far this year and 6.85% over the past 12 months.
First Trust Merger Arbitrage ETF
- 1D
- -0.14%
- 1M
- -0.00%
- YTD
- 0.29%
- 6M
- 2.63%
- 1Y
- 6.85%
- 3Y*
- 3.46%
- 5Y*
- 2.72%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Feb 5, 2020, MARB's average daily return is +0.01%, while the average monthly return is +0.16%. At this rate, your investment would double in approximately 36.1 years.
Historically, 61% of months were positive and 39% were negative. The best month was Apr 2020 with a return of +3.2%, while the worst month was Mar 2020 at -3.8%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.
On a daily basis, MARB closed higher 51% of trading days. The best single day was Mar 19, 2020 with a return of +2.4%, while the worst single day was Mar 16, 2020 at -6.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.36% | -0.07% | -0.00% | 0.29% | |||||||||
| 2025 | -0.43% | 1.19% | -0.30% | 0.41% | 1.24% | 0.71% | 1.20% | 0.32% | 0.16% | 0.52% | 1.40% | 0.40% | 7.02% |
| 2024 | -2.23% | 0.05% | 0.40% | -1.31% | 0.71% | -0.12% | 1.93% | 0.76% | -0.84% | -0.62% | 0.76% | 1.31% | 0.73% |
| 2023 | -0.46% | 0.20% | 0.00% | 0.25% | -2.13% | 1.55% | -0.30% | 1.91% | 0.34% | -0.49% | 0.58% | 0.75% | 2.16% |
| 2022 | 0.72% | 0.47% | 0.66% | -0.56% | 0.33% | -0.40% | 0.71% | 0.35% | 0.15% | 1.59% | -0.78% | 0.60% | 3.89% |
| 2021 | 0.00% | -0.52% | 0.66% | 0.82% | 0.53% | -1.05% | -0.47% | 0.29% | 0.34% | -0.16% | -0.41% | 0.25% | 0.26% |
Benchmark Metrics
First Trust Merger Arbitrage ETF has an annualized alpha of 0.60%, beta of 0.11, and R² of 0.17 versus S&P 500 Index. Calculated based on daily prices since February 06, 2020.
- This ETF captured 4.64% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -0.74%) — a profile typical of hedging or uncorrelated assets.
- Beta of 0.11 may look defensive, but with R² of 0.17 this ETF is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R² of 0.17 means this ETF moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 0.60%
- Beta
- 0.11
- R²
- 0.17
- Upside Capture
- 4.64%
- Downside Capture
- -0.74%
Expense Ratio
MARB has a high expense ratio of 2.30%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MARB ranks 83 for risk / return — in the top 83% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for First Trust Merger Arbitrage ETF (MARB) and compare them to a chosen benchmark (S&P 500 Index).
| MARB | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.29 | 0.90 | +0.40 |
Sortino ratioReturn per unit of downside risk | 2.00 | 1.39 | +0.61 |
Omega ratioGain probability vs. loss probability | 1.33 | 1.21 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 3.13 | 1.40 | +1.73 |
Martin ratioReturn relative to average drawdown | 21.28 | 6.61 | +14.67 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore MARB risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
First Trust Merger Arbitrage ETF provided a 3.01% dividend yield over the last twelve months, with an annual payout of $0.62 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $0.62 | $0.62 | $0.42 | $0.44 | $0.20 |
Dividend yield | 3.01% | 3.01% | 2.11% | 2.20% | 0.99% |
Monthly Dividends
The table displays the monthly dividend distributions for First Trust 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.49 | $0.00 | $0.00 | $0.13 | $0.62 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.19 | $0.42 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.15 | $0.44 |
| 2022 | $0.20 | $0.20 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the First Trust 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 First Trust Merger Arbitrage ETF was 11.99%, occurring on Mar 18, 2020. Recovery took 527 trading sessions.
The current First Trust Merger Arbitrage ETF drawdown is 0.24%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -11.99% | Feb 24, 2020 | 18 | Mar 18, 2020 | 527 | Apr 20, 2022 | 545 |
| -3.67% | Dec 22, 2023 | 85 | Apr 25, 2024 | 168 | Dec 24, 2024 | 253 |
| -3.45% | Feb 24, 2023 | 61 | May 22, 2023 | 67 | Aug 28, 2023 | 128 |
| -3.19% | Apr 21, 2022 | 40 | Jun 16, 2022 | 37 | Aug 10, 2022 | 77 |
| -2.43% | Jul 15, 2025 | 2 | Jul 16, 2025 | 4 | Jul 22, 2025 | 6 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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