MRGR offers a rules-based approach for executing a merger arbitrage strategy—all in one convenient ETF.
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Performance
Growth of $10,000
Since Inception
Since Inception
Year-to-Date
1 Month
3 Months
6 Months
1 Year
3 Years
5 Years
10 Years
Chart is updated nightly to reflect the more recent of the previous day's market closing price or the closing price on the day the fund was last traded.
Total Return
Month-End Total Returns as of 10/31/2025
| Fund + Index | 1m | 3m | 6m | YTD | 1Y | 3Y | 5Y | 10Y | Since Inception | Inception Date |
|---|---|---|---|---|---|---|---|---|---|---|
| MRGR NAV | 2.92% | 4.73% | 7.10% | 9.22% | 9.17% | 5.88% | 4.29% | 3.16% | 1.94% | 12/11/2012 |
| MRGR Market Price | 3.27% | 5.31% | 7.67% | 9.70% | 9.33% | 6.00% | 4.42% | 3.10% | 1.96% | 12/11/2012 |
| S&P Merger Arbitrage Index | 3.18% | 5.32% | 7.76% | 10.03% | 10.12% | 6.78% | 5.35% | 4.05% | 2.96% | -- |
| Fund + Index | 1m | 3m | 6m | YTD | 1Y | 3Y | 5Y | 10Y | Since Inception | Inception Date |
|---|---|---|---|---|---|---|---|---|---|---|
| MRGR NAV | 0.76% | 2.96% | 4.01% | 6.13% | 7.15% | 5.20% | 3.87% | 2.93% | 1.72% | 12/11/2012 |
| MRGR Market Price | 0.77% | 3.19% | 3.99% | 6.23% | 7.06% | 5.06% | 3.96% | 2.91% | 1.72% | 12/11/2012 |
| S&P Merger Arbitrage Index | 0.84% | 3.19% | 4.47% | 6.64% | 7.87% | 6.04% | 4.90% | 3.80% | 2.73% | -- |
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Market price returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. ET (when NAV is normally determined for most funds) and do not represent the returns you would receive if you traded shares at other times. Your brokerage commissions will reduce returns. Current performance may be lower or higher than the performance quoted. For standardized returns and performance data current to the most recent month end, see above.
About the Fund
Snapshot
- Ticker MRGR
- Intraday Ticker MRGR.IV
- CUSIP 74348A566
- Inception Date 12/11/12
- Net Expense Ratio 0.75%
- Gross Expense Ratio 2.21%
- NAV Calculation Time 4:00 p.m. ET
- Distributions Quarterly
Characteristics
as of 10/31/2025- Number of Companies 43
- Avg. Market Cap $5.39 billion
Weighted average market cap is the average market value of a fund or index, weighted for the market capitalization (price times shares outstanding) of each component. In such a weighting scheme, larger market cap companies carry greater weight than smaller market cap companies.
Price
as of 12/02/2025- NAV $45.35
- NAV Change $+0.03
- Market Price $45.56
- Market Price Change $+0.05
- Trading Volume (M) 2,107
- 30-Day Median Bid Ask Spread 0.27%
- View Premium / Discount
Snapshot
- Ticker MRGR
- Intraday Ticker MRGR.IV
- CUSIP 74348A566
- Inception Date 12/11/12
- Net Expense Ratio 0.75%
- Gross Expense Ratio 2.21%
- NAV Calculation Time 4:00 p.m. ET
- Distributions Quarterly
Characteristics
as of 10/31/2025- Number of Companies 43
- Avg. Market Cap $5.39 billion
Weighted average market cap is the average market value of a fund or index, weighted for the market capitalization (price times shares outstanding) of each component. In such a weighting scheme, larger market cap companies carry greater weight than smaller market cap companies.
Price
as of 12/02/2025- NAV $45.35
- NAV Change $+0.03
- Market Price $45.56
- Market Price Change $+0.05
- Trading Volume (M) 2,107
- 30-Day Median Bid Ask Spread 0.27%
- View Premium / Discount
Expenses with Contractual Waiver through September 30, 2025. Without the fee waiver performance would likely be lower.
Exposures
Index as of 9/30/2025 and Fund as of 12/02/2025
Holdings
as of 12/02/2025
| Weight | Ticker | Description | Exposure Value (Notional + GL) |
Market Value | Shares/Contracts | SEDOL Number |
|---|---|---|---|---|---|---|
| 2.97% | HOUS | ANYWHERE REAL ESTATE INC | -- | $370,129.55 | 25,793 | B5T0CW1 |
| 2.55% | AVDL | AVADEL PHARMACEUTICALS | -- | $317,559.90 | 14,874 | BDGMC59 |
| 2.51% | GDOT | GREEN DOT CORP-CLASS A | -- | $312,480.00 | 24,000 | B3WNNP3 |
| 2.50% | CIVI | CIVITAS RESOURCES INC | -- | $311,938.50 | 10,650 | BMG9GG2 |
| 2.46% | NGD | NEW GOLD INC | -- | $307,163.14 | 38,200 | 2826947 |
| 2.45% | NWE | NORTHWESTERN ENERGY GROUP IN | -- | $305,954.49 | 4,559 | B03PGL4 |
| 2.42% | AXTA | AXALTA COATING SYSTEMS LTD | -- | $302,002.50 | 10,050 | BSFWCF5 |
| 2.37% | NVA | NUVISTA ENERGY LTD | -- | $296,113.32 | 22,350 | 2901167 |
| 2.37% | KVUE | KENVUE INC | -- | $295,050.00 | 17,500 | BQ84ZQ6 |
| 2.36% | TECK/B | TECK RESOURCES LTD-CLS B | -- | $294,444.13 | 6,811 | 2879327 |
| 2.35% | CADE | CADENCE BANK | -- | $293,405.32 | 7,241 | BMCS168 |
| 2.29% | CDTX | CIDARA THERAPEUTICS INC | -- | $285,857.00 | 1,300 | BNNV4W0 |
| 2.28% | THS | TREEHOUSE FOODS INC | -- | $284,880.00 | 12,000 | B095X84 |
| 2.28% | SEMR | SEMRUSH HOLDINGS INC-A | -- | $283,920.00 | 24,000 | BMFPJH3 |
| 2.27% | EXAS | EXACT SCIENCES CORP | -- | $282,854.00 | 2,795 | 2719951 |
| 2.25% | RNA | AVIDITY BIOSCIENCES INC | -- | $280,293.72 | 3,918 | BMWHPY1 |
| 2.25% | BHF | BRIGHTHOUSE FINANCIAL INC | -- | $280,183.50 | 4,275 | BF429K9 |
| 2.25% | HOLX | HOLOGIC INC | -- | $280,051.26 | 3,743 | 2433530 |
| 2.24% | HI | HILLENBRAND INC | -- | $279,681.00 | 8,795 | B2QGDP1 |
| 2.22% | JAMF | JAMF HOLDING CORP | -- | $277,324.54 | 21,382 | BL9X5X4 |
| 2.22% | MRUS | MERUS NV | -- | $276,355.21 | 2,879 | BZBY005 |
| 2.21% | REVG | REV GROUP INC | -- | $275,349.80 | 5,140 | BDRW1P1 |
| 2.21% | NSC | NORFOLK SOUTHERN CORP | -- | $275,120.25 | 943 | 2641894 |
| 2.19% | CSGS | CSG SYSTEMS INTL INC | -- | $272,760.12 | 3,492 | 2210885 |
| 2.18% | -- | JTC PLC COMMON STOCK GBP 0.01 | -- | $272,244.36 | 16,150 | -- |
| 2.18% | AKRO | AKERO THERAPEUTICS INC | -- | $272,177.55 | 4,995 | BK7Y2V9 |
| 2.17% | EA | ELECTRONIC ARTS INC | -- | $271,071.75 | 1,335 | 2310194 |
| 2.17% | GTLS | CHART INDUSTRIES INC | -- | $270,169.83 | 1,323 | B19HNF4 |
| 2.17% | GES | GUESS? INC | -- | $270,145.80 | 15,798 | 2387109 |
| 2.16% | AHL | ASPEN INSURANCE HOLDINGS-A | -- | $268,876.26 | 7,263 | BTRVNM1 |
| 2.15% | ODP | ODP CORP/THE | -- | $268,204.33 | 9,589 | BLPHWK6 |
| 2.15% | PRO | PROS HOLDINGS INC | -- | $267,841.90 | 11,530 | B1YWQK0 |
| 2.15% | JDEP | JDE PEET'S NV | -- | $267,559.88 | 7,302 | BMC4ZZ3 |
| 2.14% | IAS | INTEGRAL AD SCIENCE HOLDING | -- | $267,081.62 | 26,006 | BP7L3L2 |
| 2.14% | DAY | DAYFORCE INC | -- | $266,419.05 | 3,855 | BFX1V56 |
| 2.13% | AL | AIR LEASE CORP | -- | $265,996.08 | 4,151 | B3XS562 |
| 2.12% | TXNM | TXNM ENERGY INC | -- | $264,583.61 | 4,561 | 2707826 |
| 2.11% | WTRG | ESSENTIAL UTILITIES INC | -- | $262,859.10 | 6,766 | BLCF3J9 |
| 2.08% | SCS | STEELCASE INC-CL A | -- | $259,988.34 | 15,882 | 2150420 |
| 1.99% | QRVO | QORVO INC | -- | $248,512.00 | 2,816 | BR9YYP4 |
| 0.13% | -- | VERVE THERAPEUTICS INC COMMON STOCK USD | -- | $16,663.50 | 26,450 | -- |
| 28.23% | -- | S&P MERGER ARBITRAGE LONG INDEX SWAP SOCIETE GENERALE | 3,520,160 | -- | 1,107 | -- |
| 0.08% | -- | S&P MERGER ARBITRAGE LONG SUB-INDEX SWAP CITIBANK NA | 9,540 | -- | 03 | -- |
| -0.06% | -- | S&P MERGER ARBITRAGE SHORT SUB-INDEX SWAP CITIBANK NA | -7,646 | -- | -03 | -- |
| -- | -- | EUROPEAN EURO CURRENCY CONTRACT - USD | -269,131 | -- | -231,000 | -- |
| -- | -- | UNITED KINGDOM POUND CURRENCY CONTRACT - USD | -276,107 | -- | -209,000 | -- |
| -- | -- | CANADA DOLLAR CURRENCY CONTRACT - USD | -903,995 | -- | -1,261,000 | -- |
| -39.22% | -- | S&P MERGER ARBITRAGE SHORT SUB-INDEX SWAP SOCIETE GENERALE | -4,890,879 | -- | -1,919 | -- |
| -- | -- | NET OTHER ASSETS (LIABILITIES) | -- | $1,149,100.26 | 1,149,100 | -- |
Index
About the Index
The S&P Merger Arbitrage Index is designed to measure the performance of a risk arbitrage strategy that exploits commonly observed price changes associated with publicly announced mergers, acquisitions, or other corporate reorganizations.
A globalmerger arbitrage strategy seeks to capture the spread between the price at which the stock of a company (a "Target") trades after a proposed acquisition of the Target is announced and the value that the acquiring company (the "Acquirer") has proposed to pay for the stock of the Target (a "Spread").
Distributions
For
2025
- 2025
- 2024
- 2023
- 2022
- 2021
- 2019
- 2018
- 2017
- 2016
- 2015
| Ex-Dividend Date | Record Date | Payable Date | Dividend | Long-Term Capital Gain | Short-Term Capital Gain | Return of Capital |
|---|
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