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AltShares Merger Arbitrage ETFAltShares Merger Arbitrage ETFAltShares Merger Arbitrage ETF

AltShares Merger Arbitrage ETF

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ARB chart


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Key stats


Assets under management (AUM)
‪85.93 M‬ USD
Fund flows (1Y)
—
Dividend yield (indicated)
1.08%
Discount/Premium to NAV
—
Shares outstanding
‪2.99 M‬
Expense ratio
0.84%

About AltShares Merger Arbitrage ETF


Issuer
Water Island Capital Partners LP
Brand
Altshares
Home page
altsharesetfs.com
Inception date
May 7, 2020
Structure
Open-Ended Fund
Index tracked
Water Island Merger Arbitrage USD Hedged Index
Replication method
Physical
Management style
Passive
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Water Island Capital LLC
Distributor
Foreside Fund Services LLC
ARB is the first ETF by AltShares Trust and the first merger arbitrage fund that hedges foreign currency exposure. The fund is passively managed to invest in a developed market index of all-cap equities, focused on publicly-announced stock-for-stock mergers or acquisitions. The fund takes long positions on 30-50 takeover targets, while shorting the acquiring firms to hedge the acquirers stock price decline. The index rebalances and reconstitutes twice a month. ARB hedges its FX risks against the USD using forward currency or futures contracts. The fund may also hold positions in cash when the number of takeover targets are not met or when deals are consummated.

Broaden your horizons with more funds linked to ARB via country, focus, and more.

Classification


Asset Class
Alternatives
Category
Hedge fund strategies
Focus
Long/short
Niche
Merger arbitrage
Strategy
Multi-factor
Geography
Developed Markets
Weighting scheme
Multi-factor
Selection criteria
Multi-factor

ARB analysis


What's in the fund
Exposure type
StocksBonds, Cash & Other
Technology Services
Finance
Cash
Stocks97.89%
Technology Services17.08%
Finance13.19%
Communications6.54%
Distribution Services5.97%
Utilities5.78%
Transportation5.09%
Health Technology5.05%
Electronic Technology4.50%
Consumer Non-Durables3.97%
Commercial Services3.96%
Non-Energy Minerals0.81%
Bonds, Cash & Other2.11%
Cash38.22%
Miscellaneous−36.11%
Top 10 holdings

ARB news



Frequently Asked Questions


An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
ARB assets under management is ‪85.93 M‬ USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
ARB invests in stocks. See more details in our Analysis section.
ARB expense ratio is 0.84%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
No, ARB isn't leveraged, meaning it doesn't use borrowings or financial derivatives to magnify the performance of the underlying assets or index it follows.
Yes, ARB pays dividends to its holders with the dividend yield of 1.08%.
ARB shares are issued by Water Island Capital Partners LP
ARB follows the Water Island Merger Arbitrage USD Hedged Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on May 7, 2020.
The fund's management style is passive, meaning it's aiming to replicate the performance of the underlying index by holding assets in the same proportions as the index. The goal is to match the index's returns.