ProShares - Merger ETF
$45.05−0.04 (−0.09%)
- Expense ratio
- 0.75%
- Fund size
- $16M
- 1Y return
- +8.6%
- Yield · Last 12 months
- 2.98%
- Holdings
- 47
- Volume · 30D
- 0M sh
- NAV per share
- $45.12
- 52W range
The ETF.net MRGR Grade
Score 57 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.BScore 65Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.AScore 70Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.DScore 26Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.BScore 59Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 60Category rank
Our read on MRGR
BMerger arbitrage in an ETF wrapper: MRGR tracks a rules-based index of announced global deals instead of leaning on one manager's deal picks, and it has been running that playbook since 2012.
MRGR seeks to track the S&P Merger Arbitrage Index before fees and expenses. The fund is designed to provide exposure to a global merger-arbitrage strategy.
Why people hold it
- Rules-based, not discretionary: it tracks the S&P Merger Arbitrage Index, so the roughly 40-deal basket follows published index rules rather than a manager's hunches.proshares.com
- Live since 2012, making it one of the longer-running merger-arb ETFs, with a record spanning more than one deal cycle.
- At 0.75% it sits at the cheaper end of a pricey niche, under First Trust's NTRL (0.95%) and AltShares' EVNT (1.33%). Distributions are quarterly.
Worth knowing
- One of the smaller, thinner-traded funds in the category, so spreads and fill quality are worth a look at the moment of the trade.
- 0.75% is mid-pack for merger arb (MNA charges the same) but many times the cost of a plain broad-market index fund.
- The core risk is announced takeovers falling apart, and an index-tracking basket adjusts on the index's rules rather than a manager's judgment call.
MRGR Holdings
- Stocks
- 47
- 36%
- Net Other Assets (Liabilities)
Sectors
- Health Care29.1%
- Financials15.1%
- Industrials12.6%
- Consumer Discr.12.4%
- Communication7.5%
- Energy5.4%
- Cons. Staples5.4%
- Technology5.2%
- Real Estate5.1%
- Materials2.3%
Geography
- United States96.65%
- United Kingdom3.35%
MRGR Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | MRGR |
|---|---|
| Year to date | +1.8% |
| 1 month | −0.8% |
| 3 months | −0.3% |
| 1 year | +8.6% |
| 3 years | +7.1% |
| 5 years | +4.0% |
| 10 years | +3.7% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | MRGR |
|---|---|---|
| 2026 YTD | +1.8% | |
| 2025 | +12.0% | |
| 2024 | +5.3% | |
| 2023 | +5.0% | |
| 2022 | −4.8% | |
| 2021 | +6.6% | |
| 2020 | +2.0% |
MRGR in the news
ETF.net Research hasn’t filed on MRGR yet — coverage lands here as it’s written.
MRGR Dividends
- 2.98%
- $1.35
- $0.09 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Jun 24, 2026 | Jun 30, 2026 | $0.09 |
| Mar 25, 2026 | Mar 31, 2026 | $0.09 |
| Dec 24, 2025 | Dec 31, 2025 | $1.00 |
| Sep 24, 2025 | Sep 30, 2025 | $0.17 |
| Jun 25, 2025 | Jul 1, 2025 | $0.08 |
| Mar 26, 2025 | Apr 1, 2025 | $0.13 |
| Dec 23, 2024 | Dec 31, 2024 | $1.15 |
| Sep 25, 2024 | Oct 2, 2024 | $0.07 |
| Jun 26, 2024 | Jul 3, 2024 | $0.009 |
| Mar 20, 2024 | Mar 27, 2024 | $0.09 |
| Dec 20, 2023 | Dec 28, 2023 | $0.58 |
| Sep 20, 2023 | Sep 27, 2023 | $0.10 |
MRGR Risk
- 3.0%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.96
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −8.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.01
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
MRGR Cost
- The middle half of Merger Arbitrage funds
- Median 0.76%
No Merger Arbitrage fund charges less.