Key stats
About ProShares Merger ETF
Expense ratio
0.75%
Home page
Inception date
Dec 11, 2012
MRGR employs a straightforward merger arbitrage strategy, which capitalize on the spread between the target companys current market stock price and the merger deal price. The fund tracks an S&P index that bets on the performance of stocks from developed countries that are in active pending merger deals based on a risk arbitrage strategy. Up to 40 target companies represents the long positions in the index, and up to 40 acquiring companies for the same merger deals represents short positions. MRGR gets additional long exposure, and all of its short exposure, with swaps. The funds long and short position have an initial 120% maximum exposure each, but its net exposure is limited to 0-100% range. Treasury bill components constitutes the remainder of the portfolio when net exposure is less than 100%. The fund hedges out its exposure relative to the US dollar.
Classification
What's in the fund
Exposure type
Finance
Technology Services
Cash
Stocks85.72%
Finance23.01%
Technology Services16.97%
Process Industries7.10%
Electronic Technology4.83%
Utilities4.69%
Commercial Services4.68%
Non-Energy Minerals4.43%
Health Technology3.54%
Consumer Services2.49%
Producer Manufacturing2.48%
Transportation2.44%
Consumer Non-Durables2.42%
Distribution Services2.39%
Industrial Services2.25%
Communications2.01%
Bonds, Cash & Other14.28%
Cash11.90%
Corporate2.38%
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