HFND vs. ARB
Compare and contrast key facts about Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) and AltShares Merger Arbitrage ETF (ARB).
HFND and ARB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HFND is an actively managed fund by Tidal ETFs. It was launched on Oct 10, 2022. 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: HFND or ARB.
Key characteristics
| HFND | ARB | |
|---|---|---|
| YTD Return | 8.43% | 4.22% |
| 1Y Return | 13.48% | 6.31% |
| Sharpe Ratio | 1.56 | 1.94 |
| Sortino Ratio | 2.16 | 2.70 |
| Omega Ratio | 1.28 | 1.39 |
| Calmar Ratio | 2.39 | 2.96 |
| Martin Ratio | 8.50 | 8.04 |
| Ulcer Index | 1.53% | 0.78% |
| Daily Std Dev | 8.30% | 3.26% |
| Max Drawdown | -6.96% | -5.60% |
| Current Drawdown | -0.35% | -0.92% |
Correlation
The correlation between HFND and ARB is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
HFND vs. ARB - Performance Comparison
In the year-to-date period, HFND achieves a 8.43% return, which is significantly higher than ARB's 4.22% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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HFND vs. ARB - Expense Ratio Comparison
HFND has a 1.22% expense ratio, which is higher than ARB's 0.87% expense ratio.
Risk-Adjusted Performance
HFND vs. ARB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) 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
HFND vs. ARB - Dividend Comparison
HFND's dividend yield for the trailing twelve months is around 1.30%, while ARB has not paid dividends to shareholders.
| TTM | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
HFND Unlimited HFND Multi-Strategy Return Tracker ETF | 1.30% | 1.41% | 0.43% | 0.00% | 0.00% |
ARB AltShares Merger Arbitrage ETF | 0.00% | 0.00% | 4.18% | 0.00% | 2.87% |
Drawdowns
HFND vs. ARB - Drawdown Comparison
The maximum HFND drawdown since its inception was -6.96%, which is greater than ARB's maximum drawdown of -5.60%. Use the drawdown chart below to compare losses from any high point for HFND and ARB. For additional features, visit the drawdowns tool.
Volatility
HFND vs. ARB - Volatility Comparison
Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) has a higher volatility of 2.78% compared to AltShares Merger Arbitrage ETF (ARB) at 1.27%. This indicates that HFND'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.