ARB vs. IBBQ ETF Comparison

Comparison of AltShares Merger Arbitrage ETF (ARB) to Invesco Nasdaq Biotechnology ETF (IBBQ)

ARB

AltShares Merger Arbitrage ETF

ARB Description

AltShares Trust - AltShares Merger Arbitrage ETF is an exchange traded fund launched and managed by Water Island Capital, LLC. It invests in public equity markets of global region. The fund invests through derivatives in stocks of companies operating across diversified sectors. The fund employs long/short strategy and uses derivatives such as futures, forwards, swaps to create its portfolio. AltShares Trust - AltShares Merger Arbitrage ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$27.91

Average Daily Volume

11,112

Number of Holdings ^*

* may have additional holdings in another (foreign) market

IBBQ

Invesco Nasdaq Biotechnology ETF

IBBQ Description

The investment seeks to track the investment results (before fees and expenses) of the Nasdaq Biotechnology Index ®. The fund generally will invest at least 90% of its total assets in the securities that comprise the index. Strictly in accordance with its guidelines and mandated procedures, Nasdaq compiles the underlying index, which is a modified market capitalization weighted index that is designed to measure the performance of securities listed on the Nasdaq Stock Market that are classified as either biotechnology or pharmaceutical companies. The index may include securities of large-, mid- and small-capitalization companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$22.34

Average Daily Volume

17,980

Number of Holdings ^*

195

* may have additional holdings in another (foreign) market

Performance

Period	ARB	IBBQ
30 Days	-0.36%	-6.94%
60 Days	-0.18%	-9.48%
90 Days	0.85%	-8.51%
12 Months	5.24%	17.45%

1 Overlapping Holdings

	Symbol	Grade	Weight in ARB	Weight in IBBQ	Overlap
	RVNC	F	2.07%	0.05%	0.05%

ARB Overweight 42 Positions Relative to IBBQ

Symbol	Grade	Weight
MRO	A	2.76%
RCM	A	2.73%
CTLT	D	2.72%
HCP	B	2.72%
SPR	D	2.68%
K	A	2.67%
JNPR	D	2.66%
ANSS	B	2.57%
INFN	D	2.27%
SRCL	B	2.19%
CHX	C	2.19%
ENV	B	2.17%
SILK	A	2.16%
PETQ	A	2.14%
EVRI	A	2.13%
HA	A	2.02%
HES	B	1.95%
DFS	B	1.9%
X	C	1.85%
DO	D	1.83%
ALE	A	1.81%
PRFT	B	1.81%
PWSC	C	1.81%
AXNX	A	1.81%
INST	B	1.79%
VZIO	A	1.78%
AMK	B	1.78%
GTHX	A	1.72%
SRDX	B	1.4%
FBMS	B	1.16%
HTLF	B	1.15%
BALY	A	1.14%
CHUY	B	1.13%
TWKS	B	1.11%
MGRC	B	1.07%
SWN	C	0.94%
CALT	C	0.58%
AAN	B	0.56%
CNSL	B	0.54%
AGS	A	0.53%
HAYN	A	0.53%
SRCL	B	0.5%

ARB Underweight 194 Positions Relative to IBBQ

Symbol	Grade	Weight
GILD	B	-9.95%
VRTX	D	-8.34%
AMGN	D	-7.56%
REGN	F	-5.67%
AZN	F	-3.97%
ALNY	D	-3.26%
BIIB	F	-2.52%
ILMN	C	-2.32%
ARGX	A	-1.96%
UTHR	C	-1.75%
VTRS	A	-1.65%
INCY	C	-1.58%
MRNA	F	-1.53%
SNY	F	-1.51%
SMMT	D	-1.43%
BMRN	F	-1.3%
NBIX	C	-1.28%
RPRX	D	-1.24%
INSM	C	-1.23%
SRPT	F	-1.08%
EXEL	B	-1.06%
BNTX	D	-1.05%
MEDP	F	-1.04%
PCVX	D	-1.04%
RVMD	B	-0.99%
ITCI	B	-0.95%
BGNE	D	-0.91%
ROIV	D	-0.89%
JAZZ	B	-0.81%
ASND	F	-0.79%
MDGL	C	-0.67%
CYTK	D	-0.64%
HALO	F	-0.62%
BPMC	C	-0.61%
NUVL	D	-0.56%
IONS	F	-0.54%
KRYS	C	-0.53%
RNA	C	-0.53%
ACLX	C	-0.51%
ALKS	C	-0.5%
ADMA	B	-0.48%
AXSM	B	-0.48%
BBIO	F	-0.48%
CRNX	B	-0.47%
RARE	F	-0.44%
CRSP	D	-0.43%
IMVT	F	-0.42%
GH	B	-0.39%
DNLI	D	-0.39%
RYTM	C	-0.37%
LEGN	D	-0.34%
MRUS	F	-0.34%
APLS	F	-0.34%
XENE	D	-0.33%
AGIO	C	-0.33%
EWTX	C	-0.32%
PTCT	B	-0.32%
DYN	D	-0.31%
FOLD	F	-0.31%
VCYT	B	-0.3%
ACAD	C	-0.3%
KYMR	D	-0.29%
SWTX	C	-0.29%
VRNA	A	-0.28%
VCEL	A	-0.28%
IOVA	F	-0.27%
JANX	C	-0.27%
VERA	C	-0.27%
PTGX	D	-0.26%
ARWR	D	-0.25%
GERN	C	-0.24%
IDYA	F	-0.24%
MIRM	B	-0.23%
SRRK	B	-0.23%
KROS	D	-0.23%
TWST	F	-0.23%
AMPH	F	-0.23%
LGND	C	-0.22%
AKRO	C	-0.21%
SUPN	B	-0.21%
BEAM	D	-0.21%
MNKD	B	-0.2%
HRMY	F	-0.2%
FTRE	D	-0.19%
NVCR	C	-0.19%
IRON	B	-0.19%
RXRX	D	-0.18%
TARS	C	-0.18%
WVE	C	-0.18%
ARVN	F	-0.17%
DVAX	C	-0.17%
BCRX	D	-0.16%
NRIX	C	-0.16%
ZLAB	C	-0.15%
TVTX	C	-0.15%
SPRY	C	-0.15%
HROW	D	-0.15%
MYGN	F	-0.15%
NTLA	F	-0.15%
OCUL	C	-0.15%
XNCR	B	-0.15%
RCKT	F	-0.14%
DAWN	D	-0.14%
SNDX	F	-0.14%
AUPH	C	-0.13%
ARDX	F	-0.13%
NVAX	F	-0.13%
INVA	D	-0.13%
ANIP	D	-0.13%
IMCR	C	-0.13%
KURA	F	-0.13%
ARQT	B	-0.12%
VIR	F	-0.12%
CNTA	B	-0.12%
ELVN	C	-0.12%
GRFS	C	-0.12%
COLL	F	-0.1%
COGT	D	-0.1%
CGEM	F	-0.09%
BCYC	F	-0.09%
ETNB	D	-0.09%
GMAB	F	-0.09%
REPL	C	-0.08%
ADPT	C	-0.08%
PLRX	D	-0.08%
ERAS	C	-0.08%
PRTA	F	-0.08%
EOLS	F	-0.08%
PCRX	C	-0.08%
ABCL	D	-0.08%
CSTL	D	-0.08%
AUTL	F	-0.07%
MRVI	F	-0.07%
AVXL	B	-0.07%
IRWD	F	-0.07%
RLAY	F	-0.07%
ABUS	D	-0.07%
HCM	C	-0.06%
OLMA	F	-0.06%
SANA	F	-0.06%
GLPG	F	-0.06%
CVAC	F	-0.06%
MLYS	F	-0.06%
ANAB	F	-0.06%
HUMA	F	-0.06%
PHAT	F	-0.06%
ORIC	F	-0.06%
TSHA	C	-0.05%
SIGA	F	-0.05%
ARCT	F	-0.05%
XERS	C	-0.05%
PACB	D	-0.05%
TERN	F	-0.05%
FDMT	F	-0.05%
OABI	D	-0.05%
TBPH	B	-0.05%
URGN	F	-0.05%
ALLO	F	-0.05%
RGNX	D	-0.05%
SVRA	F	-0.05%
EYPT	D	-0.05%
YMAB	F	-0.05%
PAHC	B	-0.05%
MGTX	C	-0.05%
THRD	D	-0.05%
LXRX	F	-0.04%
ALEC	F	-0.04%
PRME	F	-0.04%
VERV	D	-0.04%
KALV	F	-0.04%
PGEN	F	-0.03%
BMEA	F	-0.03%
ZNTL	D	-0.03%
ATAI	B	-0.03%
LYEL	F	-0.03%
VNDA	C	-0.03%
ITOS	F	-0.03%
QURE	D	-0.03%
VYGR	F	-0.03%
SAGE	F	-0.03%
ACIU	D	-0.03%
ACRS	B	-0.02%
CABA	F	-0.02%
CRBU	D	-0.02%
FULC	F	-0.02%
AMRN	F	-0.02%
EDIT	F	-0.02%
MGNX	D	-0.02%
BLUE	F	-0.01%
ALXO	F	-0.01%
OVID	D	-0.01%
CHRS	D	-0.01%
VTYX	F	-0.01%
RAPT	F	-0.0%