EVNT vs. ARB
Compare and contrast key facts about AltShares Event-Driven ETF (EVNT) and AltShares Merger Arbitrage ETF (ARB).
EVNT and ARB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EVNT is an actively managed fund by AltShares. It was launched on Dec 31, 2014. ARB is a passively managed fund by Water Island Capital Partners LP that tracks the performance of the Water Island Merger Arbitrage USD Hedged Index. It was launched on May 7, 2020.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: EVNT or ARB.
Correlation
The correlation between EVNT and ARB is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
EVNT vs. ARB - Performance Comparison
Key characteristics
EVNT:
0.53
ARB:
0.96
EVNT:
0.78
ARB:
1.32
EVNT:
1.10
ARB:
1.18
EVNT:
0.74
ARB:
1.48
EVNT:
1.75
ARB:
3.59
EVNT:
2.18%
ARB:
0.88%
EVNT:
7.14%
ARB:
3.30%
EVNT:
-13.84%
ARB:
-5.60%
EVNT:
-2.43%
ARB:
-1.99%
Returns By Period
The year-to-date returns for both stocks are quite close, with EVNT having a 3.22% return and ARB slightly lower at 3.10%.
EVNT
3.22%
-1.20%
6.95%
3.12%
N/A
N/A
ARB
3.10%
-0.81%
2.84%
2.99%
N/A
N/A
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EVNT vs. ARB - Expense Ratio Comparison
EVNT has a 1.30% expense ratio, which is higher than ARB's 0.87% expense ratio.
Risk-Adjusted Performance
EVNT vs. ARB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for AltShares Event-Driven ETF (EVNT) and AltShares Merger Arbitrage ETF (ARB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
EVNT vs. ARB - Dividend Comparison
EVNT has not paid dividends to shareholders, while ARB's dividend yield for the trailing twelve months is around 1.13%.
| TTM | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
EVNT AltShares Event-Driven ETF | 0.00% | 0.59% | 2.61% | 0.00% | 0.00% |
ARB AltShares Merger Arbitrage ETF | 1.13% | 0.00% | 4.18% | 0.00% | 2.87% |
Drawdowns
EVNT vs. ARB - Drawdown Comparison
The maximum EVNT drawdown since its inception was -13.84%, which is greater than ARB's maximum drawdown of -5.60%. Use the drawdown chart below to compare losses from any high point for EVNT and ARB. For additional features, visit the drawdowns tool.
Volatility
EVNT vs. ARB - Volatility Comparison
AltShares Event-Driven ETF (EVNT) has a higher volatility of 2.01% compared to AltShares Merger Arbitrage ETF (ARB) at 0.91%. This indicates that EVNT's price experiences larger fluctuations and is considered to be riskier than ARB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.