ARB vs. MRGR ETF Comparison

Comparison of AltShares Merger Arbitrage ETF (ARB) to ProShares Merger ETF (MRGR)

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

MRGR

ProShares Merger ETF

MRGR Description

The investment seeks investment results, before fees and expenses, that track the performance of the S&P Merger Arbitrage Index (the "index"). The fund is designed to track the performance of the index and provide exposure to a global merger arbitrage strategy. The index, and by extension the fund, seeks to produce consistent, positive returns in virtually all market environments, although there are no assurances it will achieve this result. The fund is non-diversified. The index seeks to provide a risk arbitrage strategy that exploits commonly observed price changes associated with a global selection of publicly announced mergers, acquisitions and other corporate reorganizations. Historically, the index has exhibited market neutral characteristics, lower volatility compared to the S&P 500, and a low correlation to S&P 500 returns.

Grade (RS Rating)

Last Trade

$41.90

Average Daily Volume

792

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	ARB	MRGR
30 Days	-0.36%	-0.54%
60 Days	-0.18%	0.17%
90 Days	0.85%	1.33%
12 Months	5.24%	7.05%

16 Overlapping Holdings

Symbol	Grade	Weight in ARB	Weight in MRGR	Overlap
ALE	A	1.81%	2.31%	1.81%
ANSS	B	2.57%	2.32%	2.32%
CHX	C	2.19%	1.8%	1.8%
CTLT	D	2.72%	2.2%	2.2%
DFS	B	1.9%	3.14%	1.9%
ENV	B	2.17%	2.37%	2.17%
EVRI	A	2.13%	2.42%	2.13%
HCP	B	2.72%	2.3%	2.3%
HTLF	B	1.15%	3.58%	1.15%
INFN	D	2.27%	2.5%	2.27%
JNPR	D	2.66%	2.14%	2.14%
K	A	2.67%	2.37%	2.37%
MRO	A	2.76%	2.28%	2.28%
RCM	A	2.73%	2.37%	2.37%
RVNC	F	2.07%	1.42%	1.42%
SPR	D	2.68%	2.11%	2.11%

ARB Overweight 27 Positions Relative to MRGR

Symbol	Grade	Weight
SRCL	B	2.19%
SILK	A	2.16%
PETQ	A	2.14%
HA	A	2.02%
HES	B	1.95%
X	C	1.85%
DO	D	1.83%
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%
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 13 Positions Relative to MRGR

Symbol	Grade	Weight
IBTX	B	-3.02%
SASR	B	-2.81%
EDR	A	-2.53%
LBPH	A	-2.43%
NAPA	A	-2.42%
B	A	-2.41%
SMAR	A	-2.41%
ROIC	A	-2.41%
ALTR	B	-2.4%
ATSG	A	-2.4%
ZUO	B	-2.39%
CDMO	A	-2.36%
LBRDK	C	-2.25%