MRGR vs. RPAR
Compare and contrast key facts about Proshares Merger ETF (MRGR) and RPAR Risk Parity ETF (RPAR).
MRGR and RPAR 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. RPAR is an actively managed fund by Toroso Investments. It was launched on Dec 13, 2019.
Performance
MRGR vs. RPAR - Performance Comparison
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MRGR vs. RPAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MRGR Proshares Merger ETF | 1.17% | 11.99% | 5.32% | 4.94% | -4.81% | 6.58% | 1.99% | 0.65% |
RPAR RPAR Risk Parity ETF | 4.45% | 17.91% | 0.06% | 6.03% | -22.82% | 7.56% | 19.40% | 0.11% |
Returns By Period
In the year-to-date period, MRGR achieves a 1.17% return, which is significantly lower than RPAR's 4.45% 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%
RPAR
- 1D
- 0.58%
- 1M
- -4.89%
- YTD
- 4.45%
- 6M
- 6.49%
- 1Y
- 16.02%
- 3Y*
- 7.42%
- 5Y*
- 2.36%
- 10Y*
- —
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MRGR vs. RPAR - Expense Ratio Comparison
MRGR has a 0.75% expense ratio, which is higher than RPAR's 0.51% expense ratio.
Return for Risk
MRGR vs. RPAR — Risk / Return Rank
MRGR
RPAR
MRGR vs. RPAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Merger ETF (MRGR) and RPAR Risk Parity ETF (RPAR). 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 | RPAR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.58 | 1.37 | +1.21 |
Sortino ratioReturn per unit of downside risk | 4.23 | 1.89 | +2.33 |
Omega ratioGain probability vs. loss probability | 1.57 | 1.26 | +0.31 |
Calmar ratioReturn relative to maximum drawdown | 6.59 | 2.02 | +4.57 |
Martin ratioReturn relative to average drawdown | 22.39 | 7.13 | +15.27 |
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 | RPAR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.58 | 1.37 | +1.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.11 | 0.19 | +0.92 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.64 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.33 | +0.02 |
Correlation
The correlation between MRGR and RPAR is 0.19, 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. RPAR - Dividend Comparison
MRGR's dividend yield for the trailing twelve months is around 2.99%, more than RPAR's 2.13% 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% |
RPAR RPAR Risk Parity ETF | 2.13% | 2.55% | 2.51% | 3.16% | 4.01% | 2.02% | 0.76% | 0.23% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
MRGR vs. RPAR - Drawdown Comparison
The maximum MRGR drawdown since its inception was -13.23%, smaller than the maximum RPAR drawdown of -30.16%. Use the drawdown chart below to compare losses from any high point for MRGR and RPAR.
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Drawdown Indicators
| MRGR | RPAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.23% | -30.16% | +16.93% |
Max Drawdown (1Y)Largest decline over 1 year | -1.66% | -8.10% | +6.44% |
Max Drawdown (5Y)Largest decline over 5 years | -8.40% | -30.16% | +21.76% |
Max Drawdown (10Y)Largest decline over 10 years | -13.23% | — | — |
Current DrawdownCurrent decline from peak | -0.29% | -5.42% | +5.13% |
Average DrawdownAverage peak-to-trough decline | -3.91% | -11.83% | +7.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 2.30% | -1.81% |
Volatility
MRGR vs. RPAR - Volatility Comparison
The current volatility for Proshares Merger ETF (MRGR) is 1.45%, while RPAR Risk Parity ETF (RPAR) has a volatility of 4.61%. This indicates that MRGR experiences smaller price fluctuations and is considered to be less risky than RPAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MRGR | RPAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 4.61% | -3.16% |
Volatility (6M)Calculated over the trailing 6-month period | 3.39% | 7.76% | -4.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.32% | 11.74% | -7.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.81% | 12.35% | -8.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.19% | 12.73% | -7.54% |