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The Merger Fund Class I (MERIX)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Fund Info

ISIN

US5895092071

CUSIP

589509207

Inception Date

Aug 1, 2013

Category

Event Driven

Min. Investment

$100,000

Asset Class

Equity

Expense Ratio

MERIX has a high expense ratio of 1.32%, indicating above-average management fees.


Share Price Chart


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Compare to other instruments

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Performance

Performance Chart

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


50.00%100.00%150.00%200.00%250.00%December2025FebruaryMarchAprilMay
30.19%
231.60%
MERIX (The Merger Fund Class I)
Benchmark (^GSPC)

Returns By Period

The Merger Fund Class I (MERIX) returned 3.49% year-to-date (YTD) and 5.50% over the past 12 months. Over the past 10 years, MERIX returned 2.32% annually, underperforming the S&P 500 benchmark at 10.45%.


MERIX

YTD

3.49%

1M

1.10%

6M

2.54%

1Y

5.50%

5Y*

1.99%

10Y*

2.32%

^GSPC (Benchmark)

YTD

-3.77%

1M

3.72%

6M

-5.60%

1Y

8.55%

5Y*

14.11%

10Y*

10.45%

*Annualized

Monthly Returns

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


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20250.83%1.17%0.29%0.98%0.17%3.49%
2024-0.06%-0.00%0.65%-0.94%0.41%0.59%1.58%0.17%0.00%0.17%0.12%-0.69%2.01%
2023-0.00%0.36%-0.24%0.42%-2.14%0.67%0.48%1.93%1.06%-0.18%1.23%0.89%4.51%
20220.12%0.17%-0.06%-0.40%-0.58%-0.76%1.17%0.75%-0.46%1.04%-0.46%-2.18%-1.67%
20210.58%0.74%-0.40%1.26%0.34%-0.90%-2.44%0.23%0.52%-0.12%-0.06%0.12%-0.17%
20200.41%-0.29%-2.45%2.22%0.12%0.06%1.17%0.35%0.29%0.46%1.72%-1.48%2.50%
20190.74%0.73%0.67%0.36%-0.84%0.91%0.96%0.41%0.47%0.47%0.47%-0.24%5.21%
20181.58%1.80%-0.92%-0.06%1.67%1.70%-1.25%0.36%0.90%-0.30%1.74%-2.78%4.40%
20170.32%0.38%0.19%0.70%0.51%0.19%0.13%0.00%0.25%0.56%-1.24%0.73%2.74%
2016-0.98%0.40%1.65%-0.84%1.18%-0.32%0.39%0.19%0.13%-0.26%0.77%0.63%2.94%
2015-0.32%1.80%-0.06%0.06%0.51%-1.13%-0.19%-1.15%-1.36%1.57%-0.39%-0.26%-0.97%
2014-0.56%1.07%0.00%0.50%1.11%0.80%-0.49%0.86%-1.21%-1.23%0.50%-1.04%0.26%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

With an overall rank of 92, MERIX is among the top 8% of mutual funds 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 MERIX is 9292
Overall Rank
The Sharpe Ratio Rank of MERIX is 9191
Sharpe Ratio Rank
The Sortino Ratio Rank of MERIX is 8989
Sortino Ratio Rank
The Omega Ratio Rank of MERIX is 9191
Omega Ratio Rank
The Calmar Ratio Rank of MERIX is 9494
Calmar Ratio Rank
The Martin Ratio Rank of MERIX is 9494
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 The Merger Fund Class I (MERIX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.


The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

The Merger Fund Class I Sharpe ratios as of May 10, 2025 (values are recalculated daily):

  • 1-Year: 1.74
  • 5-Year: 0.58
  • 10-Year: 0.57
  • All Time: 0.56

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of The Merger Fund Class I compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time. For deeper analysis or to customize the calculation, use the Sharpe ratio tool.


Rolling 12-month Sharpe Ratio0.001.002.003.00December2025FebruaryMarchAprilMay
1.74
0.44
MERIX (The Merger Fund Class I)
Benchmark (^GSPC)

Dividends

Dividend History

The Merger Fund Class I provided a 2.19% dividend yield over the last twelve months, with an annual payout of $0.38 per share.


0.00%0.50%1.00%1.50%2.00%2.50%3.00%$0.00$0.10$0.20$0.30$0.40$0.5020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$0.38$0.38$0.49$0.34$0.00$0.18$0.05$0.23$0.16$0.14$0.18$0.45

Dividend yield

2.19%2.26%2.91%2.02%0.00%1.05%0.29%1.44%0.99%0.89%1.18%2.88%

Monthly Dividends

The table displays the monthly dividend distributions for The Merger Fund Class I. 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$0.38$0.38
2023$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.49$0.49
2022$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.34$0.34
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$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.18$0.18
2019$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.05$0.05
2018$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.23$0.23
2017$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.16$0.16
2016$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.14$0.14
2015$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.18$0.18
2014$0.45$0.45

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%December2025FebruaryMarchAprilMay0
-7.88%
MERIX (The Merger Fund Class I)
Benchmark (^GSPC)

Worst Drawdowns

The table below displays the maximum drawdowns of the The Merger Fund Class I. 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 The Merger Fund Class I was 9.50%, occurring on Mar 18, 2020. Recovery took 82 trading sessions.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-9.5%Dec 27, 201956Mar 18, 202082Jul 15, 2020138
-6.36%Jun 14, 2021493May 26, 2023192Mar 4, 2024685
-6.27%Sep 12, 2014341Jan 20, 2016312Apr 17, 2017653
-3.42%Dec 17, 20189Dec 28, 2018140Jul 22, 2019149
-2.85%Dec 29, 20204Jan 4, 2021110Jun 11, 2021114

Volatility

Volatility Chart

The current The Merger Fund Class I volatility is 0.46%, 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
0.46%
6.82%
MERIX (The Merger Fund Class I)
Benchmark (^GSPC)