MRGR

Merger ETF

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.

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.

Performance

Growth of $10,000

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% --

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
    36
  • Avg. Market Cap
    $15.77 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 11/29/2024
  • NAV
    $42.00
  • NAV Change
    $-0.08 down caret
  • Market Price
    $41.97
  • Market Price Change
    $-0.05 down caret
  • Trading Volume (M)
    138
  • 30-Day Median Bid Ask Spread
    0.38%
  • 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
    36
  • Avg. Market Cap
    $15.77 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 11/29/2024
  • NAV
    $42.00
  • NAV Change
    $-0.08 down caret
  • Market Price
    $41.97
  • Market Price Change
    $-0.05 down caret
  • Trading Volume (M)
    138
  • 30-Day Median Bid Ask Spread
    0.38%
  • 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 11/29/2024

Holdings

as of 11/29/2024

Weight Ticker Description Exposure Value
(Notional + GL)
Market Value Shares/Contracts SEDOL Number
21.69% -- S&P MERGER ARBITRAGE LONG INDEX SWAP SOCIETE GENERALE 2,278,077 -- 760 --
3.68% HTLF HEARTLAND FINANCIAL USA INC -- $386,973.39 5,727 2828147
3.41% SMDS DS SMITH PLC -- $358,601.01 48,381 0822011
3.29% DFS DISCOVER FINANCIAL SERVICES -- $345,157.56 1,892 B1YLC43
3.18% IBTX INDEPENDENT BANK GROUP INC -- $334,198.48 4,994 B9M9ZZ7
3.17% CWB CANADIAN WESTERN BANK -- $332,777.39 7,738 2188283
2.82% SASR SANDY SPRING BANCORP INC -- $296,730.00 7,875 2148254
2.63% EDR ENDEAVOR GROUP HOLD-CLASS A -- $276,184.78 9,094 BJQ05Y5
2.58% BERY BERRY GLOBAL GROUP INC -- $271,162.50 3,750 B8BR3H3
2.47% INFN INFINERA CORP -- $259,607.75 39,275 B1YB5Y4
2.44% ENLC ENLINK MIDSTREAM LLC -- $256,160.00 16,000 BJTNDQ9
2.43% ALTR ALTAIR ENGINEERING INC - A -- $255,048.15 2,415 BD6D4Y5
2.42% EVRI EVERI HOLDINGS INC -- $254,475.24 18,892 BYV34V4
2.41% ANSS ANSYS INC -- $252,792.00 720 2045623
2.41% ROIC RETAIL OPPORTUNITY INVESTMEN -- $252,735.00 14,525 B28YD08
2.40% B BARNES GROUP INC -- $252,467.60 5,390 2080732
2.40% SMAR SMARTSHEET INC-CLASS A -- $252,334.50 4,510 BFZND98
2.40% NAPA DUCKHORN PORTFOLIO INC/THE -- $251,900.00 22,900 BLH3WV3
2.39% ATSG AIR TRANSPORT SERVICES GROUP -- $250,893.00 11,425 2938002
2.38% ZUO ZUORA INC - CLASS A -- $250,236.00 25,200 BFXZB14
2.37% K KELLANOVA -- $249,397.72 3,068 2486813
2.37% CDMO AVID BIOSERVICES INC -- $248,977.00 20,275 BFMZ4W7
2.32% NEOEN NEOEN SA -- $243,976.16 5,839 BGV7F95
2.32% ALE ALLETE INC -- $243,300.00 3,750 B02R1L6
2.30% HL/ HARGREAVES LANSDOWN PLC -- $241,815.60 17,379 B1VZ0M2
2.29% HCP HASHICORP INC-CL A -- $240,752.82 7,161 BP0PQT0
2.28% CTLT CATALENT INC -- $239,245.65 3,915 BP96PQ4
2.26% 1COV COVESTRO AG -- $237,272.92 3,890 BYTBWY9
2.25% ALTM ARCADIUM LITHIUM PLC -- $236,775.00 45,100 BM9HZ11
2.18% -- LIBERTY BROADBAND-C -- $229,026.60 2,690 BRTLC06
2.17% SPR SPIRIT AEROSYSTEMS HOLD-CL A -- $227,426.08 7,028 B1HMMS7
2.15% JNPR JUNIPER NETWORKS INC -- $225,505.76 6,278 2431846
1.80% CHX CHAMPIONX CORP -- $189,073.55 6,109 BMW7N69
1.28% RVNC REVANCE THERAPEUTICS INC -- $134,396.69 37,229 BJFSR99
0.09% -- S&P MERGER ARBITRAGE LONG SUB-INDEX SWAP CITIBANK NA 8,992 -- 03 --
-- -- ANGLOGOLD ASHANTI PLC ZAR -- $22.45 01 --
-- -- CANADA DOLLAR CURRENCY CONTRACT - USD -332,675 -- -465,000 --
-- -- EUROPEAN EURO CURRENCY CONTRACT - USD -479,609 -- -453,000 --
-- -- UNITED KINGDOM POUND CURRENCY CONTRACT - USD -606,912 -- -477,000 --
-- -- NET OTHER ASSETS (LIABILITIES) -- $1,927,240.21 1,927,240 --
-0.08% -- S&P MERGER ARBITRAGE SHORT SUB-INDEX SWAP CITIBANK NA -8,459 -- -03 --
-42.76% -- S&P MERGER ARBITRAGE SHORT SUB-INDEX SWAP SOCIETE GENERALE -4,491,894 -- -1,593 --

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

Ex-Dividend Date Record Date Payable Date Dividend Long-Term Capital Gain Short-Term Capital Gain Return of Capital

ProShares Insights and Research

Are Dividend Aristocrats a Relative Bargain?

Major U.S. equity benchmarks kept marching higher during the first eight months of 2021, with the S&P 500 closing at multiple record highs throughout the year.
Read More
Get the latest perspectives and updates.

For the total return table above, since inception returns are cumulative for funds less than one year old; otherwise, returns are annualized. Market returns are based on the composite closing price and do not represent the returns you would receive if you traded shares at other times. The listing date is typically one or more days after the fund inception date. Therefore, NAV is used to calculate market returns prior to the listing date.

The expense ratio for certain funds includes a contractual fee waiver that results in a lower net expense ratio for some or all periods shown. For information about this ETF’s fees, please see above.

Registered Investment Companies are required by the IRS to distribute substantially all of their income and capital gains to shareholders at least annually. For specific tax advice, we recommend you speak with a qualified tax professional.

Holdings are subject to change. ProShares may invest in financial instruments (including derivatives) that, in combination, should have price return characteristics similar to the fund's benchmark.

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.

Index information does not reflect any management fees, transaction costs or expenses. Indexes are unmanaged, and one cannot invest directly in an index.

There is no guarantee that capital gain distributions will not be made in the future. There is no guarantee that dividends or interest income will be paid.

There is no guarantee any ProShares ETF will achieve its investment objective.

Shares of any ETF are generally bought and sold at market price (not NAV) and are not individually redeemed from the fund. Your brokerage commissions will reduce returns.

Investing involves risk, including the possible loss of principal. ProShares ETFs are generally non-diversified and each entails certain risks, including risks associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. Please see their summary and full prospectuses for a more complete description of risks.

The fund targets the same mergers, acquisitions or other corporate reorganizations ("deals") as the S&P Merger Arbitrage Index (the "index") and is exposed to similar risks. There is no assurance that any targeted deal will be completed, and most or all of the deals could fail under certain market conditions. If a targeted deal fails, spreads in that deal should be expected to widen, typically resulting in losses well in excess of the spread the index and fund were attempting to capture. In addition, deals may be terminated, renegotiated, or subject to a longer time frame than initially contemplated. The index may also delete transactions, thus precluding potential future gains. These events may negatively impact the performance of the index and fund. Foreign companies involved in targeted deals may present risks distinct from comparable transactions completed solely within the United States.

Short positions in a security lose value as that security's price increases.

International investments may also involve risk from unfavorable fluctuations in currency values, differences in generally accepted accounting principles, and from economic or political instability.

Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing.

The "S&P Merger Arbitrage Index" is a product of S&P Dow Jones Indices LLC and its affiliates and has been licensed for use by ProShares. "S&P" is a registered trademark of Standard & Poor’s Financial Services LLC ("S&P") and “Dow Jones®" is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones") and have been licensed for use by S&P Dow Jones Indices LLC and its affiliates. ProShares have not been passed on by S&P Dow Jones Indices LLC and its affiliates as to their legality or suitability. ProShares based on the S&P Merger Arbitrage Index are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates, and they make no representation regarding the advisability of investing in ProShares. THESE ENTITIES AND THEIR AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES.

Quote data provided by Interactive Data - Real Time Services, Inc. and subject to terms of use.

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds’ advisor or sponsor.

Your use of this site signifies that you accept our Terms and Conditions of Use.