# AltShares Merger Arbitrage ETF (ARB): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/arb for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Altshares · Asset class: Alternatives - Strategy: Passive Index · Inception: 2020-05-07 ARB is the first ETF by AltShares Trust and the first merger arbitrage fund that hedges foreign currency exposure. The fund is passively managed to invest in a developed market index of all-cap equities, focused on publicly-announced stock-for-stock mergers or acquisitions. The fund takes long positions on 30-50 takeover targets, while shorting the acquiring firms to hedge the acquirers stock price decline. The index rebalances and reconstitutes twice a month. ARB hedges its FX risks against the USD using forward currency or futures contracts. The fund may also hold positions in cash when t... ## Key Facts | Metric | Value | |---|---| | Price | $29.92 | | Expense Ratio | 0.82% | | Assets Under Management | $110.9M | | NAV | $30.11 (2026-10-29 close) | | Holdings Count | 86 | | Distribution Yield (TTM) | 0.42% | | Annual Distribution (TTM) | $0.13 /share | | Distribution Frequency | Annual | | 52-Week Range | $28.30 – $32.48 | | Beta | 0.03 | ## Latest Distribution - Amount: $0.1257 /share - Ex-date: 2025-12-18 - Pay date: 2025-12-19 ## Frequently Asked Questions ### What does ARB invest in? ARB is the first ETF by AltShares Trust and the first merger arbitrage fund that hedges foreign currency exposure. The fund is passively managed to invest in a developed market index of all-cap equities, focused on publicly-announced stock-for-stock mergers or acquisitions. The fund takes long positions on 30-50 takeover targets, while shorting the acquiring firms to hedge the acquirers stock price decline. The index rebalances and reconstitutes twice a month. ARB hedges its FX risks against the USD using forward currency or futures contracts. The fund may also hold positions in cash when the number of takeover targets are not met or when deals are consummated. ### What is the expense ratio of ARB? AltShares Merger Arbitrage ETF (ARB) charges an expense ratio of 0.82%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is ARB? AltShares Merger Arbitrage ETF (ARB) manages $110.9M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is ARB actively managed or an index fund? ARB is a passive index fund. It tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (ARB's is 0.82%) because there's no security selection cost. ### When was ARB launched? AltShares Merger Arbitrage ETF (ARB) launched in May 2020 and is managed by Altshares. ### How has ARB performed? ARB's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does ARB pay a dividend? AltShares Merger Arbitrage ETF (ARB) currently distributes little or no income. Trailing-twelve-month yield is 0.42%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does ARB pay dividends? AltShares Merger Arbitrage ETF pays dividends Annual. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is ARB's dividend yield? ARB's trailing-twelve-month yield is 0.42%, calculated from the sum of dividends over the past year divided by the current price. ### When is ARB's next ex-dividend date? The most recently announced ex-dividend date for ARB was 2025-12-18. The next ex-date typically follows Annual; once announced it appears at the top of the dividend history table on this page. ### How much will ARB's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.82% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does ARB charge its expense ratio? The expense ratio is deducted in tiny daily slices from ARB's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does ARB cost more than a fund like VOO? ARB is a passive index fund (current expense ratio 0.82%). Differences from broad-market ETFs like VOO usually come from index licensing fees, asset class (bond funds typically run cheaper than equity), or fund scale (smaller funds spread fixed operating costs across less AUM). ### Are there cheaper alternatives to ARB? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as ARB (0.82%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/arb - Distribution history: https://www.dividenddata.com/funds/arb/dividend - Holdings & diversification: https://www.dividenddata.com/funds/arb/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/arb/expenses - Peer comparison: https://www.dividenddata.com/funds/arb/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.