ARB vs. XBI ETF Comparison

Comparison of AltShares Merger Arbitrage ETF (ARB) to SPDR S&P Biotech ETF (XBI)

ARB

AltShares Merger Arbitrage ETF

ARB Description

AltShares Trust - AltShares Merger Arbitrage ETF is an exchange traded fund launched and managed by Water Island Capital, LLC. It invests in public equity markets of global region. The fund invests through derivatives in stocks of companies operating across diversified sectors. The fund employs long/short strategy and uses derivatives such as futures, forwards, swaps to create its portfolio. AltShares Trust - AltShares Merger Arbitrage ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$27.91

Average Daily Volume

11,089

Number of Holdings ^*

* may have additional holdings in another (foreign) market

XBI

SPDR S&P Biotech ETF

XBI Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index derived from the biotechnology segment of a U.S. total market composite index. In seeking to track the performance of the S&P Biotechnology Select Industry Index (the "index"), the fund employs a replication strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the biotechnology industry group of the S&P Total Market Index ("S&P TMI"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$94.30

Average Daily Volume

8,465,460

Number of Holdings ^*

128

* may have additional holdings in another (foreign) market

Performance

Period	ARB	XBI
30 Days	0.04%	-4.04%
60 Days	0.20%	-7.18%
90 Days	1.26%	-7.09%
12 Months	5.53%	29.73%

0 Overlapping Holdings

	Symbol	Grade	Weight in ARB	Weight in XBI	Overlap

ARB Overweight 43 Positions Relative to XBI

Symbol	Grade	Weight
MRO	B	2.76%
RCM	A	2.73%
CTLT	C	2.72%
HCP	B	2.72%
SPR	D	2.68%
K	A	2.67%
JNPR	D	2.66%
ANSS	B	2.57%
INFN	D	2.27%
SRCL	B	2.19%
CHX	C	2.19%
ENV	B	2.17%
SILK	A	2.16%
PETQ	A	2.14%
EVRI	A	2.13%
RVNC	F	2.07%
HA	A	2.02%
HES	B	1.95%
DFS	B	1.9%
X	B	1.85%
DO	D	1.83%
ALE	A	1.81%
PRFT	B	1.81%
PWSC	C	1.81%
AXNX	A	1.81%
INST	B	1.79%
VZIO	A	1.78%
AMK	B	1.78%
GTHX	A	1.72%
SRDX	B	1.4%
FBMS	B	1.16%
HTLF	B	1.15%
BALY	B	1.14%
CHUY	B	1.13%
TWKS	B	1.11%
MGRC	B	1.07%
SWN	C	0.94%
CALT	C	0.58%
AAN	B	0.56%
CNSL	C	0.54%
AGS	A	0.53%
HAYN	A	0.53%
SRCL	B	0.5%

ARB Underweight 128 Positions Relative to XBI

Symbol	Grade	Weight
NTRA	A	-3.3%
INCY	C	-3.29%
GILD	C	-2.9%
UTHR	C	-2.88%
NBIX	C	-2.62%
VRTX	D	-2.62%
INSM	C	-2.43%
ALNY	D	-2.38%
ABBV	F	-2.33%
AMGN	F	-2.28%
SRPT	F	-2.28%
BIIB	F	-2.19%
MDGL	B	-2.17%
EXAS	D	-2.05%
VKTX	F	-2.0%
BMRN	F	-1.98%
REGN	F	-1.8%
CYTK	F	-1.79%
BPMC	B	-1.69%
CRSP	D	-1.63%
TGTX	B	-1.62%
MRNA	F	-1.57%
RVMD	C	-1.46%
RNA	C	-1.32%
KRYS	C	-1.29%
HALO	F	-1.27%
EXEL	B	-1.23%
ADMA	B	-1.23%
ROIV	C	-1.18%
ALKS	C	-1.13%
IONS	F	-1.08%
TWST	F	-0.93%
PCVX	D	-0.9%
IOVA	F	-0.88%
BBIO	F	-0.87%
APLS	F	-0.86%
GERN	D	-0.86%
CRNX	C	-0.84%
ACLX	C	-0.79%
DYN	F	-0.78%
ACAD	C	-0.78%
SWTX	C	-0.77%
AGIO	C	-0.76%
BEAM	D	-0.72%
RARE	F	-0.69%
RXRX	F	-0.66%
PTCT	B	-0.64%
FOLD	F	-0.63%
IMVT	F	-0.62%
RYTM	C	-0.61%
NUVL	C	-0.6%
NTLA	F	-0.58%
PTGX	D	-0.58%
VERA	C	-0.57%
MIRM	B	-0.57%
ARWR	D	-0.54%
IDYA	F	-0.53%
VCYT	B	-0.53%
JANX	C	-0.51%
SRRK	C	-0.49%
DVAX	C	-0.49%
NVAX	F	-0.47%
ARDX	F	-0.47%
VCEL	B	-0.46%
DNLI	D	-0.46%
KYMR	D	-0.45%
SNDX	F	-0.44%
AKRO	B	-0.43%
CGON	F	-0.42%
ARQT	B	-0.42%
BCRX	D	-0.42%
CPRX	C	-0.41%
KROS	D	-0.36%
IRON	B	-0.34%
MNKD	C	-0.34%
CLDX	F	-0.34%
NRIX	C	-0.33%
SMMT	D	-0.33%
VRDN	D	-0.3%
RCKT	F	-0.28%
DAWN	D	-0.28%
MYGN	F	-0.27%
IRWD	F	-0.26%
TVTX	C	-0.26%
CGEM	F	-0.25%
CDNA	D	-0.24%
KURA	F	-0.24%
XNCR	B	-0.24%
APLT	C	-0.22%
CDMO	A	-0.22%
RCUS	F	-0.2%
VIR	D	-0.2%
EBS	C	-0.2%
REPL	D	-0.18%
HUMA	F	-0.18%
ALT	C	-0.18%
SPRY	C	-0.18%
AVXL	B	-0.17%
ARCT	F	-0.17%
ANNX	F	-0.16%
STOK	F	-0.16%
ETNB	C	-0.16%
MDXG	B	-0.16%
COGT	D	-0.16%
VERV	F	-0.15%
RLAY	F	-0.14%
OLMA	F	-0.13%
IMNM	F	-0.13%
PRTA	F	-0.13%
OCGN	F	-0.12%
ANAB	F	-0.12%
FDMT	F	-0.12%
SANA	F	-0.12%
RGNX	D	-0.12%
ALLO	F	-0.11%
CELC	F	-0.11%
SAGE	F	-0.11%
CCCC	F	-0.1%
ERAS	C	-0.1%
ORIC	F	-0.09%
FATE	F	-0.08%
SVRA	F	-0.08%
ABUS	D	-0.07%
KALV	F	-0.07%
SCLX	F	-0.06%
YMAB	F	-0.06%
ITOS	F	-0.06%
ALEC	F	-0.04%