MRGR vs. RLY
Compare and contrast key facts about Proshares Merger ETF (MRGR) and SPDR SSgA Multi-Asset Real Return ETF (RLY).
MRGR and RLY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. RLY is an actively managed fund by State Street. It was launched on Apr 25, 2012.
Performance
MRGR vs. RLY - Performance Comparison
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MRGR vs. RLY - 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% |
RLY SPDR SSgA Multi-Asset Real Return ETF | 14.90% | 20.26% | 2.53% | 2.56% | 7.86% | 22.85% | -0.59% | 15.63% | -11.72% | 10.40% |
Returns By Period
In the year-to-date period, MRGR achieves a 1.17% return, which is significantly lower than RLY's 14.90% return. Over the past 10 years, MRGR has underperformed RLY with an annualized return of 3.33%, while RLY has yielded a comparatively higher 8.81% 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%
RLY
- 1D
- -0.14%
- 1M
- -0.48%
- YTD
- 14.90%
- 6M
- 19.17%
- 1Y
- 30.37%
- 3Y*
- 13.06%
- 5Y*
- 12.01%
- 10Y*
- 8.81%
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MRGR vs. RLY - Expense Ratio Comparison
MRGR has a 0.75% expense ratio, which is higher than RLY's 0.50% expense ratio.
Return for Risk
MRGR vs. RLY — Risk / Return Rank
MRGR
RLY
MRGR vs. RLY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Merger ETF (MRGR) and SPDR SSgA Multi-Asset Real Return ETF (RLY). 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 | RLY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.58 | 2.31 | +0.27 |
Sortino ratioReturn per unit of downside risk | 4.23 | 3.01 | +1.22 |
Omega ratioGain probability vs. loss probability | 1.57 | 1.47 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 6.59 | 3.10 | +3.49 |
Martin ratioReturn relative to average drawdown | 22.39 | 18.32 | +4.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MRGR | RLY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.58 | 2.31 | +0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.11 | 0.89 | +0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.64 | 0.64 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.37 | -0.01 |
Correlation
The correlation between MRGR and RLY is 0.17, 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. RLY - Dividend Comparison
MRGR's dividend yield for the trailing twelve months is around 2.99%, more than RLY's 2.92% 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% |
RLY SPDR SSgA Multi-Asset Real Return ETF | 2.92% | 3.24% | 3.31% | 3.71% | 5.66% | 12.15% | 2.16% | 3.45% | 2.76% | 1.85% | 2.07% | 1.80% |
Drawdowns
MRGR vs. RLY - Drawdown Comparison
The maximum MRGR drawdown since its inception was -13.23%, smaller than the maximum RLY drawdown of -37.75%. Use the drawdown chart below to compare losses from any high point for MRGR and RLY.
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Drawdown Indicators
| MRGR | RLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.23% | -37.75% | +24.52% |
Max Drawdown (1Y)Largest decline over 1 year | -1.66% | -9.94% | +8.28% |
Max Drawdown (5Y)Largest decline over 5 years | -8.40% | -18.94% | +10.54% |
Max Drawdown (10Y)Largest decline over 10 years | -13.23% | -34.17% | +20.94% |
Current DrawdownCurrent decline from peak | -0.29% | -0.48% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -3.91% | -9.56% | +5.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 1.68% | -1.19% |
Volatility
MRGR vs. RLY - Volatility Comparison
The current volatility for Proshares Merger ETF (MRGR) is 1.45%, while SPDR SSgA Multi-Asset Real Return ETF (RLY) has a volatility of 3.03%. This indicates that MRGR experiences smaller price fluctuations and is considered to be less risky than RLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MRGR | RLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 3.03% | -1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 3.39% | 8.54% | -5.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.32% | 13.22% | -8.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.81% | 13.60% | -9.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.19% | 13.82% | -8.63% |