MRGR
Merger ETF
Why MRGR?
-
Offers a rules-based approach for executing a merger arbitrage strategy.
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Designed to provide an alternative source of returns not correlated to a portfolio's equity market holdings.
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Has the goal of producing consistent, positive returns under virtually any market conditions.
-
Can help diversify a portfolio by providing a liquid, low volatility component for the alternative investments allocation.
Why MRGR?
-
Offers a rules-based approach for executing a merger arbitrage strategy.
-
Designed to provide an alternative source of returns not correlated to a portfolio's equity market holdings.
-
Has the goal of producing consistent, positive returns under virtually any market conditions.
-
Can help diversify a portfolio by providing a liquid, low volatility component for the alternative investments allocation.
Documents & Downloads
You may order paper copies by contacting ProShares Client Services at 866-PRO-5125 (866-776-5125)
Performance
Growth of $10,000
Since Inception
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
| Fund + Index | 1m | 3m | 6m | YTD | 1Y | 3Y | 5Y | 10Y | Since Inception | Inception Date |
|---|---|---|---|---|---|---|---|---|---|---|
| MRGR Market Price | 1.12% | 3.68% | 5.93% | 5.66% | 8.48% | 1.78% | 3.04% | 2.31% | 1.36% | 12/11/2012 |
| MRGR NAV | 1.02% | 3.22% | 5.37% | 5.49% | 8.06% | 1.89% | 3.02% | 2.37% | 1.35% | 12/11/2012 |
| S&P Merger Arbitrage Index | 1.07% | 3.44% | 5.92% | 6.29% | 8.95% | 2.94% | 3.99% | 3.29% | 2.38% | -- |
| Fund + Index | 1m | 3m | 6m | YTD | 1Y | 3Y | 5Y | 10Y | Since Inception | Inception Date |
|---|---|---|---|---|---|---|---|---|---|---|
| MRGR Market Price | 0.80% | 4.19% | 3.77% | 4.49% | 7.36% | 1.85% | 3.01% | 2.03% | 1.28% | 12/11/2012 |
| MRGR NAV | 0.34% | 3.50% | 3.50% | 4.42% | 7.25% | 1.93% | 2.98% | 2.09% | 1.27% | 12/11/2012 |
| S&P Merger Arbitrage Index | 0.42% | 3.80% | 4.05% | 5.17% | 8.24% | 3.01% | 3.94% | 3.01% | 2.30% | -- |
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
- Expense Ratio 0.75%
- Gross Expense Ratio 1.83%
- NAV Calculation Time 4:00 p.m. ET
Characteristics
as of 10/31/2024- Number of Companies --
- Price/Earnings Ratio --
- Price/Book Ratio --
Price to book ratio measures market value of a fund or index relative to the collective book values of its component stocks.
- Weighted Avg. Market Cap --
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.
- SEC 30-Day Yield (unsubsidized) -0.52%
- Weighted Average Yield to
Maturity-- - Net Effective Duration --
Price
as of 11/20/2024- NAV $41.89
- NAV Change $+0.04
- Market Price $41.90
- Market Price Change $+0.09
- Trading Volume (M) 598
- 30-Day Median Bid Ask Spread 0.40%
- View Premium / Discount
Snapshot
- Ticker MRGR
- Intraday Ticker MRGR.IV
- CUSIP 74348A566
- Inception Date 12/11/12
- Expense Ratio 0.75%
- Gross Expense Ratio 1.83%
- NAV Calculation Time 4:00 p.m. ET
Characteristics
as of 10/31/2024- Number of Companies --
- Price/Earnings Ratio --
- Price/Book Ratio --
Price to book ratio measures market value of a fund or index relative to the collective book values of its component stocks.
- Distribution Yield --
Distribution Yield represents the annualized yield based on the last income distribution.
- Weighted Avg. Market Cap --
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.
- SEC 30-Day Yield (unsubsidized) -0.52%
- Weighted Average Yield to Maturity --
- Net Effective Duration --
Price
as of 11/20/2024- NAV $41.89
- NAV Change $+0.04
- Market Price $41.90
- Market Price Change $+0.09
- Trading Volume (M) 598
- 30-Day Median Bid Ask Spread 0.40%
- View Premium / Discount
Expenses with Contractual Waiver through September 30, 2025. Without the fee waiver performance would likely be lower.
Exposures
Index as of 9/30/2024 and Fund as of 11/20/2024
Holdings
as of 11/20/2024
| Weight | Ticker | Description | Exposure Value (Notional + GL) |
Market Value | Shares/Contracts | SEDOL Number |
|---|---|---|---|---|---|---|
| 23.18% | -- | S&P MERGER ARBITRAGE LONG INDEX SWAP SOCIETE GENERALE | 2,427,401 | -- | 819 | -- |
| 3.54% | HTLF | HEARTLAND FINANCIAL USA INC | -- | $371,109.60 | 5,727 | 2828147 |
| 3.36% | SMDS | DS SMITH PLC | -- | $351,508.01 | 48,381 | 0822011 |
| 3.15% | CWB | CANADIAN WESTERN BANK | -- | $330,074.97 | 7,738 | 2188283 |
| 3.12% | DFS | DISCOVER FINANCIAL SERVICES | -- | $326,880.84 | 1,892 | B1YLC43 |
| 3.01% | IBTX | INDEPENDENT BANK GROUP INC | -- | $314,921.64 | 4,994 | B9M9ZZ7 |
| 2.75% | SASR | SANDY SPRING BANCORP INC | -- | $287,988.75 | 7,875 | 2148254 |
| 2.55% | EDR | ENDEAVOR GROUP HOLD-CLASS A | -- | $267,272.66 | 9,094 | BJQ05Y5 |
| 2.48% | INFN | INFINERA CORP | -- | $259,607.75 | 39,275 | B1YB5Y4 |
| 2.43% | LBPH | LONGBOARD PHARMACEUTICALS IN | -- | $254,022.50 | 4,250 | BLR6S36 |
| 2.42% | NAPA | DUCKHORN PORTFOLIO INC/THE | -- | $253,274.00 | 22,900 | BLH3WV3 |
| 2.41% | ROIC | RETAIL OPPORTUNITY INVESTMEN | -- | $252,299.25 | 14,525 | B28YD08 |
| 2.41% | SMAR | SMARTSHEET INC-CLASS A | -- | $252,289.40 | 4,510 | BFZND98 |
| 2.41% | ALTR | ALTAIR ENGINEERING INC - A | -- | $252,053.55 | 2,415 | BD6D4Y5 |
| 2.41% | EVRI | EVERI HOLDINGS INC | -- | $252,019.28 | 18,892 | BYV34V4 |
| 2.41% | B | BARNES GROUP INC | -- | $251,928.60 | 5,390 | 2080732 |
| 2.40% | ATSG | AIR TRANSPORT SERVICES GROUP | -- | $251,235.75 | 11,425 | 2938002 |
| 2.38% | ZUO | ZUORA INC - CLASS A | -- | $249,480.00 | 25,200 | BFXZB14 |
| 2.37% | K | KELLANOVA | -- | $247,833.04 | 3,068 | 2486813 |
| 2.37% | CDMO | AVID BIOSERVICES INC | -- | $247,760.50 | 20,275 | BFMZ4W7 |
| 2.36% | ENV | ENVESTNET INC | -- | $247,691.34 | 3,926 | B474ZK7 |
| 2.35% | ANSS | ANSYS INC | -- | $246,412.80 | 720 | 2045623 |
| 2.32% | NEOEN | NEOEN SA | -- | $242,702.80 | 5,839 | BGV7F95 |
| 2.31% | HCP | HASHICORP INC-CL A | -- | $242,185.02 | 7,161 | BP0PQT0 |
| 2.30% | ALE | ALLETE INC | -- | $241,387.50 | 3,750 | B02R1L6 |
| 2.28% | HL/ | HARGREAVES LANSDOWN PLC | -- | $239,234.37 | 17,379 | B1VZ0M2 |
| 2.27% | MRO | MARATHON OIL CORP | -- | $237,664.56 | 8,218 | 2910970 |
| 2.25% | LBRDK | LIBERTY BROADBAND-C | -- | $235,536.40 | 2,690 | BRTLC06 |
| 2.24% | 1COV | COVESTRO AG | -- | $234,993.14 | 3,890 | BYTBWY9 |
| 2.24% | ALTM | ARCADIUM LITHIUM PLC | -- | $234,971.00 | 45,100 | BM9HZ11 |
| 2.23% | CEY | CENTAMIN PLC | -- | $233,454.39 | 130,000 | B5TT187 |
| 2.21% | CTLT | CATALENT INC | -- | $230,985.00 | 3,915 | BP96PQ4 |
| 2.14% | SPR | SPIRIT AEROSYSTEMS HOLD-CL A | -- | $224,404.04 | 7,028 | B1HMMS7 |
| 2.14% | JNPR | JUNIPER NETWORKS INC | -- | $223,873.48 | 6,278 | 2431846 |
| 1.79% | CHX | CHAMPIONX CORP | -- | $187,546.30 | 6,109 | BMW7N69 |
| 1.35% | RVNC | REVANCE THERAPEUTICS INC | -- | $141,470.20 | 37,229 | BJFSR99 |
| 0.08% | -- | S&P MERGER ARBITRAGE LONG SUB-INDEX SWAP CITIBANK NA | 8,892 | -- | 03 | -- |
| -- | -- | CANADA DOLLAR CURRENCY CONTRACT - USD | -320,282 | -- | -447,000 | -- |
| -- | -- | EUROPEAN EURO CURRENCY CONTRACT - USD | -478,483 | -- | -453,000 | -- |
| -- | -- | UNITED KINGDOM POUND CURRENCY CONTRACT - USD | -820,648 | -- | -649,000 | -- |
| -- | -- | NET OTHER ASSETS (LIABILITIES) | -- | $1,555,881.73 | 1,555,882 | -- |
| -0.08% | -- | S&P MERGER ARBITRAGE SHORT SUB-INDEX SWAP CITIBANK NA | -8,259 | -- | -03 | -- |
| -40.79% | -- | S&P MERGER ARBITRAGE SHORT SUB-INDEX SWAP SOCIETE GENERALE | -4,272,563 | -- | -1,552 | -- |
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
- 2024
- 2023
- 2022
- 2021
- 2019
- 2018
- 2017
- 2016
- 2015
- 2014
| Ex-Dividend Date | Record Date | Payable Date | Dividend | Long-Term Capital Gain | Short-Term Capital Gain | Return of Capital |
|---|
