MRGR vs. MARB ETF Comparison

Comparison of ProShares Merger ETF (MRGR) to First Trust Merger Arbitrage ETF (MARB)

MRGR

ProShares Merger ETF

MRGR Description

The investment seeks investment results, before fees and expenses, that track the performance of the S&P Merger Arbitrage Index (the "index"). The fund is designed to track the performance of the index and provide exposure to a global merger arbitrage strategy. The index, and by extension the fund, seeks to produce consistent, positive returns in virtually all market environments, although there are no assurances it will achieve this result. The fund is non-diversified. The index seeks to provide a risk arbitrage strategy that exploits commonly observed price changes associated with a global selection of publicly announced mergers, acquisitions and other corporate reorganizations. Historically, the index has exhibited market neutral characteristics, lower volatility compared to the S&P 500, and a low correlation to S&P 500 returns.

Grade (RS Rating)

Last Trade

$39.97

Average Daily Volume

976

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MARB

First Trust Merger Arbitrage ETF

MARB Description

The investment seeks to provide investors with capital appreciation. Under normal market conditions, the fund seeks to achieve its investment objective by establishing long and short positions in the equity securities of companies that are involved in a publicly-announced significant corporate event, such as a merger or acquisition. It's portfolio may include equity securities issued by U.S. and non-U.S. companies, including American Depositary Receipts (ADRs), and derivatives, including total return swaps. The fund may invest in securities issued by small, mid and large capitalization issuers. It is non-diversified.

Grade (RS Rating)

Last Trade

$19.65

Average Daily Volume

28,561

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MRGR	MARB
30 Days	-1.02%	-0.60%
60 Days	-1.05%	-0.95%
90 Days	0.12%	-0.50%
12 Months	6.44%	1.66%

11 Overlapping Holdings

Symbol	Grade	Weight in MRGR	Weight in MARB	Overlap
ANSS	D	2.44%	3.49%	2.44%
AXNX	D	2.4%	4.02%	2.4%
CERE	C	2.52%	3.11%	2.52%
CPRI	F	1.57%	1.46%	1.46%
CTLT	D	2.31%	3.03%	2.31%
DFS	C	2.46%	3.25%	2.46%
HES	B	2.35%	3.44%	2.35%
JNPR	D	2.31%	3.3%	2.31%
NS	D	2.61%	2.43%	2.43%
PXD	B	2.69%	5.74%	2.69%
X	D	1.84%	3.54%	1.84%

MRGR Overweight 20 Positions Relative to MARB

Symbol	Grade	Weight
WRK	A	3.16%
EVBG	D	3.04%
ETRN	C	2.88%
SWAV	A	2.54%
EDR	A	2.53%
FUSN	A	2.53%
MODN	B	2.51%
ALPN	A	2.51%
DOOR	A	2.51%
AIRC	A	2.51%
AMK	D	2.48%
HIBB	A	2.48%
AEL	A	2.48%
HCP	B	2.46%
WIRE	C	2.41%
SLCA	B	2.41%
INBX	D	2.34%
HA	C	2.17%
MGRC	D	2.14%
CHX	D	2.13%

MRGR Underweight 12 Positions Relative to MARB

Symbol	Grade	Weight
ACI	C	-5.2%
AMED	A	-4.66%
VZIO	D	-2.89%
LBAI	B	-2.43%
NWLI	A	-2.1%
SP	B	-1.56%
SNPS	D	--2.01%
SUN	D	--2.45%
PFS	B	--2.48%
CVX	A	--3.57%
COF	B	--3.77%
XOM	B	--6.03%