The Merger Fund Class I (MERIX)

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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.

The Merger Fund Class I (MERIX) has returned 0.59% so far this year and 6.59% over the past 12 months. Over the last ten years, MERIX has returned 4.19% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Aug 5, 2013, MERIX's average daily return is +0.01%, while the average monthly return is +0.30%. At this rate, your investment would double in approximately 19.3 years.

Historically, 72% of months were positive and 28% were negative. The best month was Apr 2020 with a return of +2.2%, while the worst month was Mar 2020 at -2.5%. The longest winning streak lasted 23 consecutive months, and the longest losing streak was 4 months.

On a daily basis, MERIX closed higher 46% of trading days. The best single day was Dec 18, 2024 with a return of +3.8%, while the worst single day was Mar 16, 2020 at -4.4%.

The Merger Fund Class I has an annualized alpha of 2.36%, beta of 0.11, and R² of 0.24 versus S&P 500 Index. Calculated based on daily prices since August 06, 2013.

• This fund captured 11.92% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -0.05%) — a profile typical of hedging or uncorrelated assets.
• Beta of 0.11 may look defensive, but with R² of 0.24 this fund 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 fund's risk.
• R² of 0.24 means this fund 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.

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

MERIX ranks 99 for risk / return — in the top 99% of mutual funds 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.

The table below present risk-adjusted performance metrics for The Merger Fund Class I (MERIX) and compare them to a chosen benchmark (S&P 500 Index).

The Merger Fund Class I provided a 7.91% dividend yield over the last twelve months, with an annual payout of $1.35 per share. The fund has been increasing its distributions for 2 consecutive years.

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.

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.

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 9.33%, occurring on Mar 18, 2020. Recovery took 82 trading sessions.

The current The Merger Fund Class I drawdown is 0.12%.

The chart below shows the rolling one-month volatility.