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ProShares Merger ETF

ETF
MRGR
Payout Change
Pending
Price as of:
$42.0488 +-0.0 +-0.0%
primary theme
N/A
MRGR (ETF)

ProShares Merger ETF

Payout Change
Pending
Price as of:
$42.0488 +-0.0 +-0.0%
primary theme
N/A
MRGR (ETF)

ProShares Merger ETF

Payout Change
Pending
Price as of:
$42.0488 +-0.0 +-0.0%
primary theme
N/A

Name

As of 10/10/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

ProShares Merger ETF

MRGR | ETF

$42.05

$10.1 M

0.70%

$0.29

1.83%

Vitals

YTD Return

5.1%

1 yr return

7.3%

3 Yr Avg Return

1.8%

5 Yr Avg Return

3.0%

Net Assets

$10.1 M

Holdings in Top 10

29.4%

52 WEEK LOW AND HIGH

$42.1
$39.63
$42.05

Expenses

OPERATING FEES

Expense Ratio 1.83%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 10/10/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

ProShares Merger ETF

MRGR | ETF

$42.05

$10.1 M

0.70%

$0.29

1.83%

MRGR - Profile

Distributions

  • YTD Total Return 5.1%
  • 3 Yr Annualized Total Return 1.8%
  • 5 Yr Annualized Total Return 3.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.65%
DIVIDENDS
  • Dividend Yield 0.7%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    ProShares Merger ETF
  • Fund Family Name
    ProShares Trust
  • Inception Date
    Dec 11, 2012
  • Shares Outstanding
    1750001
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Scott Hanson

Fund Description

The Fund is designed to track the performance of the Index and provide exposure to a global merger arbitrage strategy.The 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 global merger 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”). A Spread often exists because there is uncertainty that the announced merger, acquisition or other corporate reorganization (a “Deal”) will close, and if it closes, that it will close on the terms the parties initially agreed to. For Deals that close, the price of the Target after the Deal is announced is expected to increase up to the acquisition price by the closing date of the Deal, resulting in a gain. The size of the Spread will depend on several factors, including the perceived risk of the Deal closing and the length of time expected until the Deal is completed. For Deals that are not consummated, the price of the Target commonly falls back to pre-announcement levels, typically resulting in significant losses well in excess of the post-announcement Spread the strategy attempts to capture.The Index includes up to 40 Deals based on deal size, age and performance. The Index measures the performance of a long position in the Targets of an acquisition, a short position in the Acquirers of an acquisition, and a cash position for any amounts not allocated to existing Deals.The long portion of the Indexconsistsof up to 40 companies that are currently Targets of the selectedDeals.Each Target is initially weighted at 3% of the Index.The short portion of the Index consists of up to 40 companies that are currently the Acquirers in the selected Deals. Each Acquirer is weightedbetween0% and 3%of the Index depending on the relative prices of the Target’s and Acquirer’s shares. The cash portionof the Index consists of 3-month U.S.Treasury Bills.Composition and weight adjustments are made to the Index asrequiredby merger announcements,withdrawals, and completions. The Index is constructed and maintained by S&P Dow Jones IndicesLLC.More information about the Index can be found using the Bloomberg ticker symbol “SPLSAUT.”The Fund will generally not short any stocks directly but will generally obtain short exposure through derivatives.Under normal circumstances, the Fund will invest at least 80% of its total assets in components of the Index or in instruments with similar economic characteristics.The Fund will invest principally in the financial instruments listed below.●Equity Securities — Common stock issued by public companies.●Derivatives — Financial instruments whose value is derived from the value of an underlying asset or assets, such as stocks, bonds, ETFs, interest rates or indexes. The Fund invests in derivatives as a substitute for investing directly in or making short sales of the securities of the Index, as well as for effecting currency hedging transactions. These derivatives principally include:○Swap Agreements — Contracts entered into primarily with major global financial institutions for a specified period ranging from a day to more than one year. In a standard swap transaction, two parties agree to exchange or “swap” payments based on the change in value of an underlying asset or benchmark. For example, two parties may agree to exchange the return (or differentials in rates of returns) earned or realized on a particular investment or instrument.○Forward Contracts — Two-party contracts where a purchase or sale of a specific quantity of a commodity, security, foreign currency or other financial instrument is entered into with dealers or financial institutions at a set price, with delivery and settlement at a specified future date. Forward contracts may also be structured for cash settlement, rather than physical delivery.●Money Market Instruments — The Fund expects that any cash balances maintained in connection with its use of derivatives will typically be held in high quality, short-term money market instruments, for example:○U.S. Treasury Bills — U.S. government securities that have initial maturities of one year or less, and are supported by the full faith and credit of the U.S. government.○Repurchase Agreements — Contracts in which a seller of securities, usually U.S. government securities or other money market instruments, agrees to buy the securities back at a specified time and price.ProShare Advisors uses a mathematical approach to investing in which it determines the type, quantity and mix of investment positions that it believes, in combination, the Fund should hold to produce returns consistent with its investment objective. The Fund seeks to remain fully invested at all times in financial instruments that, in combination, provide exposure consistent with the investment objective, without regard to market conditions, trends or direction. The Fund may also invest in or gain exposure to only a representative sample of the securities in the Index or to securities not contained in the Index or in financial instruments, with the intent of obtaining exposure consistent with the investment objective.Please see “Investment Objectives, Principal Investment Strategies and Related Risks” in the Fund’s Prospectus for additional details.
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MRGR - Performance

Return Ranking - Trailing

Period MRGR Return Category Return Low Category Return High Rank in Category (%)
YTD 5.1% -11.6% 15.8% 36.00%
1 Yr 7.3% -33.0% 41.7% 55.34%
3 Yr 1.8%* -10.5% 13.4% 32.65%
5 Yr 3.0%* -4.8% 11.1% 62.65%
10 Yr 2.0%* -4.6% 7.6% N/A

* Annualized

Return Ranking - Calendar

Period MRGR Return Category Return Low Category Return High Rank in Category (%)
2023 2.7% -31.7% 23.2% 38.78%
2022 -5.4% -20.7% 10.7% 22.68%
2021 5.9% -12.4% 14.7% 16.67%
2020 2.0% -13.2% 12.9% 49.37%
2019 3.5% -11.7% 7.9% 87.14%

Total Return Ranking - Trailing

Period MRGR Return Category Return Low Category Return High Rank in Category (%)
YTD 5.1% -11.7% 15.8% 36.00%
1 Yr 7.3% -33.0% 41.7% 48.54%
3 Yr 1.8%* -10.5% 13.4% 29.59%
5 Yr 3.0%* -4.8% 11.1% 60.24%
10 Yr 2.0%* -4.6% 7.6% N/A

* Annualized

Total Return Ranking - Calendar

Period MRGR Return Category Return Low Category Return High Rank in Category (%)
2023 4.9% -31.7% 23.2% 38.78%
2022 -4.8% -20.7% 10.7% 22.68%
2021 6.6% -12.4% 14.7% 25.56%
2020 2.0% -12.7% 12.9% 69.62%
2019 4.3% -11.5% 13.2% 87.14%

MRGR - Holdings

Concentration Analysis

MRGR Category Low Category High MRGR % Rank
Net Assets 10.1 M 105 K 12.6 B 77.88%
Number of Holdings 61 5 2526 86.54%
Net Assets in Top 10 2.96 M -619 M 6.53 B 69.23%
Weighting of Top 10 29.44% 7.6% 96.1% 3.66%

Top 10 Holdings

  1. Alumina Ltd. 3.70%
  2. Westrock Co. 3.48%
  3. Repurchase Agreement 3.36%
  4. Equitrans Midstream Corp. 3.09%
  5. Everbridge, Inc. 2.99%
  6. SilverBow Resources, Inc. 2.63%
  7. Heartland Financial USA, Inc. 2.60%
  8. Shockwave Medical, Inc. 2.54%
  9. Altium Ltd. 2.53%
  10. Endeavor Group Holdings, Inc., Class A 2.52%

Asset Allocation

Weighting Return Low Return High MRGR % Rank
Stocks 		92.47% -57.09% 325.56% 10.58%
Other 		4.68% -11.90% 43.69% 70.19%
Cash 		2.86% -225.56% 102.75% 78.85%
Preferred Stocks 		0.00% 0.00% 5.67% 74.04%
Convertible Bonds 		0.00% 0.00% 95.47% 80.77%
Bonds 		0.00% -1.04% 63.30% 79.81%

Stock Sector Breakdown

Weighting Return Low Return High MRGR % Rank
Technology 		30.88% 0.00% 100.00% 18.28%
Industrials 		14.77% 0.00% 27.58% 24.73%
Healthcare 		14.11% 0.00% 27.28% 20.43%
Communication Services 		12.24% 0.00% 33.72% 44.09%
Financial Services 		8.23% 0.00% 98.37% 30.11%
Real Estate 		8.12% 0.00% 93.91% 89.25%
Utilities 		3.01% 0.00% 66.28% 44.09%
Consumer Defense 		2.88% 0.00% 30.58% 44.09%
Consumer Cyclical 		2.88% 0.00% 29.06% 48.39%
Energy 		2.87% 0.00% 53.30% 89.25%
Basic Materials 		0.00% 0.00% 42.74% 96.77%

Stock Geographic Breakdown

Weighting Return Low Return High MRGR % Rank
US 		76.40% -55.82% 325.56% 9.62%
Non US 		16.07% -7.09% 86.98% 10.58%

MRGR - Expenses

Operational Fees

MRGR Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.83% 0.73% 9.52% 17.48%
Management Fee 0.75% 0.13% 1.65% 19.23%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.06% 0.40% N/A

Sales Fees

MRGR Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.75% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

MRGR Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

MRGR Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 30.00% 483.00% 78.65%

MRGR - Distributions

Dividend Yield Analysis

MRGR Category Low Category High MRGR % Rank
Dividend Yield 0.70% 0.00% 0.75% 62.50%

Dividend Distribution Analysis

MRGR Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Quarterly Annually

Net Income Ratio Analysis

MRGR Category Low Category High MRGR % Rank
Net Income Ratio 0.65% -2.49% 4.20% 45.63%

Capital Gain Distribution Analysis

MRGR Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

MRGR - Fund Manager Analysis

Managers

Scott Hanson

Start Date

Tenure

Tenure Rank

Aug 31, 2016

5.75

5.8%

Scott Hanson is Portfolio Manager at ProShare Advisors since August 2016, Associate Portfolio Manager from May 2012 to August 2016 and Senior Portfolio Analyst from August 2010 to May 2012.

Alexander Ilyasov

Start Date

Tenure

Tenure Rank

Aug 14, 2020

1.79

1.8%

Alexander Ilyasov, ProShare Advisors: Senior Portfolio Manager since October 2013 and Portfolio Manager from November 2009 through September 2013. ProFund Advisors LLC: Senior Portfolio Manager since October 2013 and Portfolio Manager from November 2009 through September 2013. World Asset Management, Inc.: Portfolio Manager from January 2006 through November 2009. Ilyasov joined WAM’s predecessor entity in September 2005 as a member of its International Investment Team. Since joining in 2005, he has been involved in supporting WAM’s international equity product line.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.59 6.3 9.42

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