ATLASAltShares Merger Arbitrage ETF (ARB): outlook, holdings and fees
AltShares Merger Arbitrage ETF (ARB) is an exchange-traded fund and is managed by AltShares. The expense ratio is 0.77% and the yield is 0.42%. The ten largest holdings are 26% of the fund.
Fund data as of Oct 14, 2026 · Price Nov 2, 2026
ATLAS view on ARB
| Last price | $30.15 (+0.8%) |
|---|---|
| ATLAS chance of a higher price in 1 month | 62% |
| Likely 1-month range (50%) | $29.93 – $30.70 |
| Normal 1-day range (±1σ) | ±0.4% |
| Distribution yield | 0.42% |
ATLAS probabilities use the same calibrated model as every stock page. A fair value is shown for companies, not funds; the holdings below link to the fair value of each company.
ARB fund facts
| Issuer | AltShares |
|---|---|
| Theme | Other strategies |
| Assets under management | $111M |
| Expense ratio | 0.77% |
| Number of holdings | 45 |
| Portfolio turnover | 456% |
| Inception | May 7, 2020 |
| Exchange | NYSE |
The fund seeks to track the performance of the index, which is designed to reflect a global merger arbitrage strategy. Under normal market conditions, it will invest at least 80% of its net assets (including borrowings for investment purposes) in the constituents of the index and in financial instruments with economic characteristics similar to such constituents such as swaps on such constituents. The fund is non-diversified.
ARB top holdings
| Holding | Sector | Weight |
|---|---|---|
| Warner Bros Discovery Inc WBD | Communication Services | 3.68% |
| Caesars Entertainment Corporation CZR | Consumer Cyclical | 2.42% |
| Penumbra Inc PEN | Healthcare | 2.45% |
| Bio-Techne Corp TECH | Healthcare | 2.54% |
| The AES Corporation AES | Utilities | 2.40% |
| Intertek Group PLC ITRK | Industrials | 2.59% |
| Apogee Therapeutics, Inc. Common Stock APGE | Healthcare | 2.57% |
| Crinetics Pharmaceuticals Inc CRNX | Healthcare | 2.41% |
| Delivery Hero SE DHER | Consumer Cyclical | 2.29% |
| Globalstar, Inc. Common Stock GSAT | Communication Services | 2.43% |
Holdings with an ATLAS page link to their probability range, fair value and earnings calendar.
ARB sector breakdown
| Sector | Weight |
|---|---|
| Healthcare | 22.1% |
| Industrials | 18.7% |
| Financial Services | 15.3% |
| Communication Services | 13.9% |
| Consumer Cyclicals | 10.3% |
| Technology | 9.8% |
| Utilities | 3.8% |
| Consumer Defensive | 3.3% |
| Real Estate | 2.9% |
By region: North America 80.7%, United Kingdom 13.7%, Europe Developed 4.6%, Africa/Middle East 1.1%.
ARB returns and risk
| Year to date | +3.4% |
|---|---|
| 1 year | +4.0% |
| 3 years (annualised) | +5.5% |
| 5 years (annualised) | +4.1% |
| 10 years (annualised) | 0.0% |
| Volatility (3 years) | 2.0% |
| Sharpe ratio (3 years) | 0.21 |
Past returns do not guarantee future results.
ARB: frequently asked questions
What does ARB invest in?
AltShares Merger Arbitrage ETF invests in a portfolio of securities. Its largest holdings are Warner Bros Discovery Inc (3.7%), Caesars Entertainment Corporation (2.4%), Penumbra Inc (2.5%), Bio-Techne Corp (2.5%), The AES Corporation (2.4%).
What is the ARB expense ratio?
0.77% a year: about $77.00 for every $10,000 invested.
What is the ARB dividend yield?
0.42%. ATLAS does not hold the exact distribution dates for ETFs.
Will ARB go up?
Nobody can know. The ATLAS model puts the chance of a higher price in one month at 62%, with a likely range (50%) of $29.93 to $30.70 from $30.15 today. It is a probability, not a prediction.
How has ARB performed?
Year to date +3.4%, one year +4.0%, three years +5.5% a year, five years +4.1% a year. Past returns do not guarantee future results.
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Educational information, not investment advice. Disclaimer