IPO vs. ARB ETF Comparison
Comparison of Renaissance IPO ETF (IPO) to AltShares Merger Arbitrage ETF (ARB)
IPO
Renaissance IPO ETF
IPO Description
The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Renaissance IPO Index (the "index"). The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index, the Renaissance IPO Index. The remaining 20% may be used to purchase securities not in the index that are an appropriate substitute for certain securities in the index in order to track the index. The index is comprised of common stocks, American Depositary Receipts ("ADRs"), real estate investment trusts ("REITS") and master limited partnerships ("MLPs"). The fund is non-diversified.
Grade (RS Rating)
Last Trade
$42.43
Average Daily Volume
42,489
17
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
$27.79
Average Daily Volume
10,699
40
Performance
| Period | IPO | ARB |
|---|---|---|
| 30 Days | 5.12% | 1.05% |
| 60 Days | 18.48% | 2.03% |
| 90 Days | 3.66% | 2.88% |
| 12 Months | 38.40% | 5.90% |
1 Overlapping Holdings
| Symbol | Grade | Weight in IPO | Weight in ARB | Overlap | |
|---|---|---|---|---|---|
| HCP | A | 3.35% | 3.33% | 3.33% |
IPO Underweight 39 Positions Relative to ARB
| Symbol | Grade | Weight | |
|---|---|---|---|
| HES | D | -3.31% | |
| ANSS | D | -3.06% | |
| HIBB | A | -2.69% | |
| PRFT | A | -2.69% | |
| EDR | A | -2.67% | |
| CHX | C | -2.56% | |
| ETRN | D | -2.51% | |
| JNPR | C | -2.31% | |
| CTLT | A | -2.24% | |
| ALE | A | -2.09% | |
| AXNX | A | -2.09% | |
| VZIO | A | -1.99% | |
| X | F | -1.89% | |
| CERE | A | -1.88% | |
| HTLF | B | -1.88% | |
| SWN | D | -1.85% | |
| AMK | B | -1.83% | |
| DFS | A | -1.77% | |
| CPRI | C | -1.75% | |
| AMED | D | -1.45% | |
| MGRC | D | -1.36% | |
| AGS | A | -1.32% | |
| HAYN | B | -1.31% | |
| NWLI | A | -1.28% | |
| HA | B | -1.23% | |
| WRK | C | -0.94% | |
| SBOW | D | -0.82% | |
| OSG | A | -0.67% | |
| IBTX | B | -0.67% | |
| OLK | A | -0.62% | |
| SRCL | B | -0.6% | |
| CNSL | A | -0.57% | |
| CRGY | B | --0.49% | |
| UMBF | C | --0.59% | |
| SSB | C | --0.68% | |
| SNPS | F | --1.86% | |
| CHK | C | --1.94% | |
| CHRD | F | --2.18% | |
| EQT | C | --2.53% |
IPO: Top Represented Industries & Keywords
ARB: Top Represented Industries & Keywords
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