YALL vs. MRGR

Last updated Aug 2, 2026

YALL (God Bless America ETF) and MRGR (Proshares Merger ETF) are both exchange-traded funds - YALL is a Large Cap Blend Equities fund actively managed by Tidal, while MRGR is a Event Driven fund tracking the S&P Merger Arbitrage Index. YALL is actively managed, while MRGR is passively managed. Over the past 3 years, YALL returned 15.42%/yr vs 8.57%/yr for MRGR. Their 0.25 correlation means their historical movements had little consistent relationship. YALL charges 0.65%/yr vs 0.75%/yr for MRGR.

Performance

YALL vs. MRGR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in God Bless America ETF (YALL) and Proshares Merger ETF (MRGR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YALL achieves a -3.72% return, which is significantly lower than MRGR's 2.68% return.

YALL

• 1D: -0.10%
• 1M: -2.18%
• 6M: -5.10%
• YTD: -3.72%
• 1Y: 0.47%
• 3Y*: 15.42%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.69%

MRGR

• 1D: 0.09%
• 1M: 0.00%
• 6M: 1.79%
• YTD: 2.68%
• 1Y: 10.28%
• 3Y*: 8.57%
• 5Y*: 4.36%
• 10Y*: 3.72%
• ALL TIME*: 2.18%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MRGR Proshares Merger ETF	$51.38K	$39.66K	$57.10K
YALL God Bless America ETF	$426.58K	$379.61K	$374.40K

YALL vs. MRGR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
YALL God Bless America ETF	-3.72%	14.36%	29.99%	40.74%	8.04%
MRGR Proshares Merger ETF	2.68%	11.99%	5.32%	4.94%	-1.16%

Correlation

The correlation between YALL and MRGR is 0.24, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.24
Correlation (3Y) Balances recent behavior with more history.	0.24
Correlation (All Time) Calculated using the full available price history since Oct 11, 2022	0.25

Return for Risk

YALL vs. MRGR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

YALL

YALL Risk / Return Rank: 10
YALL Sharpe Ratio Rank: 10
YALL Sortino Ratio Rank: 10
YALL Omega Ratio Rank: 9
YALL Calmar Ratio Rank: 10
YALL Martin Ratio Rank: 10

MRGR

MRGR Risk / Return Rank: 95
MRGR Sharpe Ratio Rank: 93
MRGR Sortino Ratio Rank: 95
MRGR Omega Ratio Rank: 93
MRGR Calmar Ratio Rank: 97
MRGR Martin Ratio Rank: 96

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

YALL vs. MRGR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for God Bless America ETF (YALL) and Proshares Merger ETF (MRGR). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	YALL	MRGR	Difference
Sharpe ratio: Return per unit of total volatility	-0.04	2.47	-2.51
Sortino ratio: Return per unit of downside risk	0.04	4.19	-4.15
Omega ratio: Gain probability vs. loss probability	1.01	1.49	-0.48
Calmar ratio: Return relative to maximum drawdown	-0.06	8.07	-8.13
Martin ratio: Return relative to average drawdown	-0.12	21.89	-22.01

YALL vs. MRGR - Sharpe Ratio Comparison

The current YALL Sharpe Ratio is -0.04, which is lower than the MRGR Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of YALL and MRGR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

YALL vs. MRGR - Drawdown Comparison

The maximum YALL drawdown since its inception was -19.72%, which is greater than MRGR's maximum drawdown of -13.23%. Use the drawdown chart below to compare losses from any high point for YALL and MRGR.

Drawdown Indicators

	YALL	MRGR	Difference
Max Drawdown Largest peak-to-trough decline	-19.72%	-13.23%	-6.49%
Max Drawdown (1Y) Largest decline over 1 year	-9.42%	-1.29%	-8.13%
Max Drawdown (3Y) Largest decline over 3 years	-19.72%	-2.10%	-17.62%
Max Drawdown (5Y) Largest decline over 5 years	—	-8.40%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-13.23%	—
Current Drawdown Current decline from peak	-8.03%	-0.11%	-7.92%
Average Drawdown Average peak-to-trough decline	-3.09%	-3.82%	+0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.16%	0.48%	+3.68%

Volatility

YALL vs. MRGR - Volatility Comparison

God Bless America ETF (YALL) has a higher volatility of 2.95% compared to Proshares Merger ETF (MRGR) at 0.54%. This indicates that YALL's price experiences larger fluctuations and is considered to be riskier than MRGR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YALL	MRGR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.95%	0.54%	+2.41%
Volatility (6M) Calculated over the trailing 6-month period	10.01%	2.75%	+7.26%
Volatility (1Y) Calculated over the trailing 1-year period	13.81%	4.24%	+9.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.30%	3.79%	+13.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.30%	5.14%	+12.16%

YALL vs. MRGR - Expense Ratio Comparison

YALL has a 0.65% expense ratio, which is lower than MRGR's 0.75% expense ratio.

Dividends

YALL vs. MRGR - Dividend Comparison

YALL's dividend yield for the trailing twelve months is around 0.51%, less than MRGR's 2.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MRGR Proshares Merger ETF	2.96%	3.12%	3.21%	2.11%	0.61%	0.59%	0.00%	0.78%	1.39%	0.36%	0.74%	0.34%
YALL God Bless America ETF	0.51%	0.49%	0.50%	3.51%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both YALL and MRGR in my portfolio?

YALL and MRGR have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YALL or MRGR?

YALL has higher volatility (2.95%) compared to MRGR (0.54%). In terms of maximum drawdown, YALL dropped -19.72% vs MRGR's -13.23%.

Which ETF is better, YALL or MRGR?

On 3-year performance, YALL leads with 15.42% vs 8.57% for MRGR. On fees, YALL is cheaper at 0.65% per year. On volatility, MRGR has been the lower-risk option at 0.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YALL or MRGR?

Over the 3-year period, YALL has performed better with a 15.42% return vs 8.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YALL or MRGR?

YALL is cheaper with a 0.65% expense ratio, compared with 0.75% for MRGR.

Which ETF pays a higher dividend yield, YALL or MRGR?

MRGR has the higher dividend yield at 2.96%, compared with 0.51% for YALL.

What is the main difference between YALL and MRGR?

YALL is categorized as Large Cap Blend Equities, while MRGR is Event Driven. They also come from different issuers: Tidal and ProShares. Their fees differ too: 0.65% for YALL and 0.75% for MRGR.

Which has better risk-adjusted returns?

MRGR currently has the higher Sharpe Ratio (2.47 vs -0.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.