AltSharesEvent DrivenARB · NYSE Arca

AltShares Merger Arbitrage ETF (ARB)

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Price: $29.80; —11 Sept 2026
Assets: $102.5M; Total net assets
Expense ratio: 0.76%; Category 1.83%
Yield: 0.42%; Trailing distributions

1Y return: 3.3%-2.4%; Category 5.7%
3Y CAGR: 5.0%-2.0%; Category 7.0%
5Y CAGR: 4.1%+0.5%; Category 3.6%

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AltShares Merger Arbitrage ETF

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	+0.2%	+0.5%	+2.3%	+2.5%	+3.3%	+5.0%	+4.1%	—	+4.1%
Event Driven average	-0.1%	0.9%	3.0%	3.5%	5.7%	7.0%	3.6%	3.3%	2.7%
Difference	+0.3%	-0.4%	-0.7%	-1.0%	-2.4%	-2.0%	+0.5%	—	+1.4%

Holdings

The 9 largest positions make up 25.4% of the fund.

Top holdings

Largest holdings by weight
Ticker	Holding	Weight
WBD	Warner Bros. Discovery Inc Ordinary Shares - Class A	3.60%
EA	Electronic Arts Inc	2.81%
CWAN	Clearwater Analytics Holdings Inc Class A	2.80%
AES	The AES Corp	2.79%
MASI	Masimo Corp	2.79%
PEN	Penumbra Inc	2.72%
WED.SG	Webster Financial Corp	2.71%
NSC	Norfolk Southern Corp	2.67%
GSAT	Globalstar Inc	2.50%

Portfolio valuation

Weighted averages of what the fund holds.

P/E: 20.9
P/B: 2.4
P/S: 1.8
P/CF: 10.4

Sector allocation

Share of the equity the fund holds.

Financial services21.3%
Health care18.8%
Industrials15.3%
Technology12.2%
Communication services10.9%
Utilities8.3%
Real estate5.2%
Materials3.3%
Consumer discretionary2.5%
Consumer staples1.2%
Energy0.9%

Asset mix

Stocks77.9%
Cash22.5%

ETF details

Issuer: AltShares
Category: Alternatives · Event Driven
Ticker: ARB
Exchange: NYSE Arca
Inception: 7 May 2020 (6.3 years)
Structure: Exchange Traded Fund
Expense ratio: 0.76% (category 1.83%)
Holdings turnover: 399% (category 244%)
Distribution yield: 0.42%
Beta, 3 years: 0.04
Total net assets: $102.5M

Prices and returns as of 11 Sept 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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