MRGR vs. HMEZX
Compare and contrast key facts about Proshares Merger ETF (MRGR) and NexPoint Merger Arbitrage Fund (HMEZX).
MRGR is a passively managed fund by ProShares that tracks the performance of the S&P Merger Arbitrage Index. It was launched on Dec 11, 2012. HMEZX is managed by Highland Funds. It was launched on Aug 18, 2016.
Performance
MRGR vs. HMEZX - Performance Comparison
Loading graphics...
MRGR vs. HMEZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MRGR Proshares Merger ETF | 1.17% | 11.99% | 5.32% | 4.94% | -4.81% | 6.58% | 1.99% | 4.31% | 3.42% | 2.08% |
HMEZX NexPoint Merger Arbitrage Fund | 0.81% | 6.30% | 7.42% | 4.10% | 2.70% | 5.37% | 8.46% | 8.10% | 5.92% | 5.48% |
Returns By Period
In the year-to-date period, MRGR achieves a 1.17% return, which is significantly higher than HMEZX's 0.81% return. Over the past 10 years, MRGR has underperformed HMEZX with an annualized return of 3.33%, while HMEZX has yielded a comparatively higher 5.89% annualized return.
MRGR
- 1D
- -0.29%
- 1M
- 0.22%
- YTD
- 1.17%
- 6M
- 6.51%
- 1Y
- 11.07%
- 3Y*
- 8.29%
- 5Y*
- 4.22%
- 10Y*
- 3.33%
HMEZX
- 1D
- 0.15%
- 1M
- 0.46%
- YTD
- 0.81%
- 6M
- 2.14%
- 1Y
- 5.71%
- 3Y*
- 6.42%
- 5Y*
- 4.92%
- 10Y*
- 5.89%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
MRGR vs. HMEZX - Expense Ratio Comparison
MRGR has a 0.75% expense ratio, which is lower than HMEZX's 1.50% expense ratio.
Return for Risk
MRGR vs. HMEZX — Risk / Return Rank
MRGR
HMEZX
MRGR vs. HMEZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Merger ETF (MRGR) and NexPoint Merger Arbitrage Fund (HMEZX). 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.
| MRGR | HMEZX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.58 | 3.60 | -1.02 |
Sortino ratioReturn per unit of downside risk | 4.23 | 5.64 | -1.42 |
Omega ratioGain probability vs. loss probability | 1.57 | 1.96 | -0.39 |
Calmar ratioReturn relative to maximum drawdown | 6.59 | 5.53 | +1.06 |
Martin ratioReturn relative to average drawdown | 22.39 | 35.87 | -13.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| MRGR | HMEZX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.58 | 3.60 | -1.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.11 | 2.94 | -1.82 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.64 | 1.54 | -0.89 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 1.59 | -1.23 |
Correlation
The correlation between MRGR and HMEZX is 0.20, 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.
Dividends
MRGR vs. HMEZX - Dividend Comparison
MRGR's dividend yield for the trailing twelve months is around 2.99%, less than HMEZX's 5.07% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MRGR Proshares Merger ETF | 2.99% | 3.12% | 3.21% | 2.11% | 0.61% | 0.59% | 0.00% | 0.78% | 1.39% | 0.36% | 0.74% | 0.34% |
HMEZX NexPoint Merger Arbitrage Fund | 5.07% | 5.04% | 6.36% | 5.07% | 5.11% | 3.63% | 5.83% | 0.33% | 19.16% | 6.88% | 0.02% | 0.00% |
Drawdowns
MRGR vs. HMEZX - Drawdown Comparison
The maximum MRGR drawdown since its inception was -13.23%, which is greater than HMEZX's maximum drawdown of -6.86%. Use the drawdown chart below to compare losses from any high point for MRGR and HMEZX.
Loading graphics...
Drawdown Indicators
| MRGR | HMEZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.23% | -6.86% | -6.37% |
Max Drawdown (1Y)Largest decline over 1 year | -1.66% | -1.06% | -0.60% |
Max Drawdown (5Y)Largest decline over 5 years | -8.40% | -1.94% | -6.46% |
Max Drawdown (10Y)Largest decline over 10 years | -13.23% | -6.86% | -6.37% |
Current DrawdownCurrent decline from peak | -0.29% | 0.00% | -0.29% |
Average DrawdownAverage peak-to-trough decline | -3.91% | -0.38% | -3.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 0.16% | +0.33% |
Volatility
MRGR vs. HMEZX - Volatility Comparison
Proshares Merger ETF (MRGR) has a higher volatility of 1.45% compared to NexPoint Merger Arbitrage Fund (HMEZX) at 0.46%. This indicates that MRGR's price experiences larger fluctuations and is considered to be riskier than HMEZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| MRGR | HMEZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 0.46% | +0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 3.39% | 0.97% | +2.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.32% | 1.61% | +2.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.81% | 1.68% | +2.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.19% | 3.84% | +1.35% |