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AltShares Trust - AltShares Merger Arbitrage ETF (ARB)
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Upturn Advisory Summary
11/05/2025: ARB (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type ETF | Historic Profit 9.64% | Avg. Invested days 81 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  5.0 | ETF Returns Performance  3.0 |
| Profits based on simulation | Last Close 11/05/2025 |
Key Highlights
Volume (30-day avg) - | Beta 0.05 | 52 Weeks Range 26.58 - 28.75 | Updated Date 06/30/2025 |
52 Weeks Range 26.58 - 28.75 | Updated Date 06/30/2025 |
Upturn AI SWOT
AltShares Trust - AltShares Merger Arbitrage ETF
ETF Overview
Overview
The AltShares Merger Arbitrage ETF (ARB) sought to capture the spread between a target company's stock price and the acquisition price by investing in companies subject to a public announcement of a definitive agreement for a corporate takeover. It focused on companies involved in mergers, acquisitions, tender offers, leveraged buyouts, and spin-offs. The ETF is no longer trading after liquidating in January 2021.
Reputation and Reliability
AltShares was a relatively new ETF issuer that focused on alternative investment strategies. It ceased operations and liquidated all its ETFs.
Management Expertise
Information regarding the management team's expertise is limited due to the short lifespan and closure of AltShares.
Investment Objective
Goal
The primary investment goal of the AltShares Merger Arbitrage ETF (ARB) was to achieve capital appreciation by investing in companies involved in mergers and acquisitions.
Investment Approach and Strategy
Strategy: ARB sought to profit from the merger arbitrage strategy, buying shares of target companies after a merger announcement and hoping to capitalize on the spread between the current price and the expected deal price.
Composition The ETF primarily held common stock of companies subject to merger or acquisition agreements.
Market Position
Market Share: Data on ARB's historical market share is unavailable since the ETF has been liquidated.
Total Net Assets (AUM): Data on ARB's AUM before liquidation is not consistently available.
Competitors
Key Competitors
Competitive Landscape
The merger arbitrage ETF space included a few competitors. ARB differentiated itself through its specific selection criteria, but its relatively small size and short lifespan hindered its ability to compete effectively. Other funds might have had lower expense ratios or longer track records, making them more attractive to investors. Due to its liquidation, ARB no longer participates in this competitive landscape.
Financial Performance
Historical Performance: Historical performance data is unavailable due to the ETF's liquidation. Examining past performance is no longer possible.
Benchmark Comparison: A benchmark comparison is no longer relevant as the ETF is no longer trading.
Expense Ratio: The expense ratio prior to liquidation was 0.75%.
Liquidity
Average Trading Volume
Average trading volume information is no longer relevant given the ETF's liquidation.
Bid-Ask Spread
Details regarding the bid-ask spread are unavailable and irrelevant, as the ETF is no longer trading.
Market Dynamics
Market Environment Factors
Market environment factors, such as the volume of merger and acquisition activity, interest rates, and regulatory changes, influenced the performance of ARB when it was active. These factors are no longer relevant for this particular ETF, however.
Growth Trajectory
ARB experienced no growth trajectory as it was liquidated in January 2021.
Moat and Competitive Advantages
Competitive Edge
ARB's competitive edge, if any, was tied to its specific selection criteria for merger arbitrage opportunities. This included focusing on deals with a high probability of completion and careful assessment of potential risks. However, without a longer operating history and larger AUM, it struggled to establish a strong foothold. Its liquidation indicates a lack of sustainable competitive advantage. Due to closure, there is no longer a competitive edge.
Risk Analysis
Volatility
Historical volatility data is no longer relevant as the ETF has been liquidated.
Market Risk
The primary market risk was the risk of merger deals failing to close, which would negatively impact the fund's performance. Other risks included regulatory hurdles, financing challenges, and unexpected events that could disrupt the merger process. These risks are no longer relevant due to closure.
Investor Profile
Ideal Investor Profile
The ideal investor profile, when the fund was active, was someone seeking diversification within the alternative investment space and comfortable with the risks associated with merger arbitrage. This profile is no longer applicable.
Market Risk
ARB was likely best suited for sophisticated investors with a higher risk tolerance, but is no longer investable.
Summary
The AltShares Merger Arbitrage ETF (ARB) sought to capitalize on merger arbitrage opportunities but ultimately liquidated in January 2021. It invested in companies involved in mergers and acquisitions, aiming to profit from the spread between the target company's stock price and the acquisition price. The fund's lifespan was short, and it struggled to gain significant market share. Due to its liquidation, information on its performance, liquidity, and competitive position is no longer relevant and this ETF is no longer an option for investors.
Similar ETFs
Sources and Disclaimers
Data Sources:
- SEC Filings
- ETF.com
- Issuer Website (historical)
Disclaimers:
Data is based on historical information and may not be fully accurate due to the ETF's liquidation. Information is for informational purposes only and should not be considered investment advice.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About AltShares Trust - AltShares Merger Arbitrage ETF
Exchange NYSE ARCA | Headquaters - | ||
IPO Launch date - | CEO - | ||
Sector - | Industry - | Full time employees - | Website |
Full time employees - | Website | ||
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.
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