MRGRProShares Merger ETF
MRGR Fund Description
MRGR tracks an index of developed-market equities involved in merger deals, with long exposure to target firms and short exposure to acquiring firms. The fund is net long and hedges FX risk.
MRGR Factset Analytics Insight
MRGR employs a straightforward merger arbitrage strategy, which capitalize on the spread between the target company’s 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 fund’s 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.
MRGR Portfolio Management
MRGR Tax Exposures
MRGR Fund Structure
MRGR Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of MRGR. MRGR is rated a N/A out of 5.
MRGR Asset Allocation