Key stats
About ProShares Merger ETF
Home page
Inception date
Dec 11, 2012
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
ProShare Advisors LLC
Distributor
SEI Investments Distribution Co.
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
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Cash
Stocks65.28%
Finance9.38%
Electronic Technology8.58%
Consumer Services5.77%
Technology Services5.65%
Consumer Non-Durables5.65%
Retail Trade5.64%
Commercial Services4.38%
Communications2.97%
Producer Manufacturing2.96%
Process Industries2.89%
Industrial Services2.88%
Distribution Services2.87%
Health Technology2.84%
Non-Energy Minerals2.82%
Bonds, Cash & Other34.72%
Cash34.72%
Top 10 holdings
Dividends
Dividend payout history