ARB
AltShares Merger Arbitrage ETF
ARB tracks a global USD-hedged index that uses a merger arbitrage strategy by providing long exposure to takeover targets and short exposure the acquiring company.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
$ 216.0 M
ASSETS UNDER MGMT
77 bp
EXPENSES
Fund Basics
| Inception date | May 07, 2020 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Annually |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| EXACT SCIENCES CORP | 52.9 % |
| WARNER BROS. DISCOVERY, INC. SERIES A | 3.6 % |
| CLEARWATER AN-A | 2.9 % |
| JDE PEET'S NV ADR | 2.9 % |
| MASIMO CORPORATION | 2.9 % |
| HOLOGIC INC | 2.9 % |
| ELECTRONIC ARTS INC | 2.8 % |
| CHART INDUSTRIES INC | 2.8 % |
| NORFOLK SOUTHERN CORP | 2.8 % |
| CONFLUENT INC-CLASS A | 2.8 % |
Constituent Breakdown
| Number of holdings | 91 |
| Herfindahl-Hirschman Index | 2,998 |
| Wgt avg mkt cap (mns) | $49,814 |
| Large cap (>$10bn) | 32.7% |
| Mid cap ($2-10bn) | 45.2% |
| Small cap (<$2bn) | 29.8% |
| Developed mkts. | 111.4% |
| Emerging mkts. | 0.0% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 133.8 % |
 |
CANADA | 4.3 % |
 |
BRITAIN | 4.1 % |
 |
ITALY | 2.1 % |
 |
SPAIN | 0.8 % |
 |
FRANCE | 0.7 % |
 |
GERMANY | 0.6 % |
 |
DENMARK | 0.5 % |
Historical Performance
Standardized Performance (as of 04/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 1.6% | 4.9% | 5.2% | 4.9% | 2.9% | -- | -- | 2.7% |
| Dividend Yield | 0.0% | 0.5% | 0.8% | 0.5% | 1.2% | -- | -- | 1.5% |
| Total Returns | 1.6% | 5.4% | 6.0% | 5.4% | 4.1% | -- | -- | 4.2% | Ann. Volatility | 3.2% | 2.7% | 3.0% | 3.7% | 4.4% | -- | -- | 4.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.09 | 17% |
| MSCI EAFE | 0.05 | 8% |
| MSCI Emg Mkts | 0.04 | 8% |
Liquidity Measures
| Avg. volume (000) | 13 |
| ADV traded (mns) | $0 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.29% |
Technical Indicators
| 30d moving avg. (EMA) | $29.42 |
| Relative strength (RSI) | 55 |
| MACD/Signal | 0.04/0.05 |
| Bollinger Bands (Upper/Lower) | $29.58/$29.35 |
| Short interest (% of AUM) | 1.8% |
Distributions
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. ARB |
Expenses vs. ARB |
ALTAR Score™ vs. ARB |
|---|---|---|---|---|
| FDWM | Fidelity Women's Leadership ETF | 17.8% | -18 bp | +1.4% |
Risk and Returns: ARB vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 5/13/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
3.3%
ALTAR SCORE™
15th
PERCENTILE
AVOID
ETFRC RATING
There are 1,206 funds in the US Equity category with an average
ALTAR Score™ of 5.4% and a standard deviation
of 2.1%. ARB's ALTAR Score™ is approximately -1.0 standard
deviations above the category average. This places ARB in the 15th percentile
among funds in the category.
Sell-Side Consensus
$31.61
PRICE TARGET
+6.4%
UPSIDE