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
$ 190.2 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
| WARNER BROS. DISCOVERY, INC. SERIES A | 3.0 % |
| TALKSPACE, INC. | 2.6 % |
| ELECTRONIC ARTS INC | 2.1 % |
| CLEARWATER AN-A | 2.1 % |
| AES CORP | 2.1 % |
| MASIMO CORPORATION | 2.1 % |
| CHART INDUSTRIES INC | 2.0 % |
| NORFOLK SOUTHERN CORP | 2.0 % |
| PENUMBRA, INC. | 2.0 % |
| NCR ATLEOS CORP | 1.8 % |
Constituent Breakdown
| Number of holdings | 98 |
| Herfindahl-Hirschman Index | 664 |
| Wgt avg mkt cap (mns) | $40,162 |
| Large cap (>$10bn) | 40.7% |
| Mid cap ($2-10bn) | 18.3% |
| Small cap (<$2bn) | 10.9% |
| Developed mkts. | 72.7% |
| Emerging mkts. | 0.0% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 62.0 % |
 |
BRITAIN | 7.1 % |
 |
CANADA | 3.6 % |
 |
ITALY | 1.3 % |
 |
GERMANY | 0.5 % |
Historical Performance
Standardized Performance (as of 09/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 3.0% | 3.3% | 3.9% | 4.5% | 3.1% | -- | -- | 2.8% |
| Dividend Yield | 0.0% | 0.4% | 0.8% | 0.5% | 1.2% | -- | -- | 1.4% |
| Total Returns | 3.0% | 3.7% | 4.7% | 5.0% | 4.2% | -- | -- | 4.2% | Ann. Volatility | 3.8% | 3.6% | 3.3% | 3.2% | 4.5% | -- | -- | 4.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.09 | 7% |
| MSCI EAFE | 0.06 | 5% |
| MSCI Emg Mkts | 0.02 | 2% |
Liquidity Measures
| Avg. volume (000) | 31 |
| ADV traded (mns) | $1 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.16% |
Technical Indicators
| 30d moving avg. (EMA) | $29.66 |
| Relative strength (RSI) | 56 |
| MACD/Signal | 0.03/0.02 |
| Bollinger Bands (Upper/Lower) | $29.76/$29.55 |
| Short interest (% of AUM) | 0.4% |
Distributions
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. ARB |
Expenses vs. ARB |
ALTAR Score™ vs. ARB |
|---|
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 10/16/2026
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
4.4%
ALTAR SCORE™
31st
PERCENTILE
UNDERWEIGHT
ETFRC RATING
There are 1,394 funds in the US Equity category with an average
ALTAR Score™ of 5.5% and a standard deviation
of 2.2%. ARB's ALTAR Score™ is approximately -0.5 standard
deviations above the category average. This places ARB in the 31st percentile
among funds in the category.
Sell-Side Consensus
$32.7
PRICE TARGET
+8.7%
UPSIDE