AltShares Merger Arbitrage ETF

AltShares Merger Arbitrage ETF is an exchange-traded fund designed to provide exposure to a global merger arbitrage strategy through the Water Island Merger Arbitrage USD Hedged Index. The fund focuses on publicly announced mergers, takeovers, tender offers, and similar corporate transactions, typically seeking to capture the pricing gap that can exist between a target company’s stock price and the deal value. To implement this approach, the portfolio may hold long positions in takeover targets and short positions in acquiring companies when stock is part of the consideration, while also using derivatives such as swaps to gain index exposure. The ETF is managed with a rules-based, passive approach and is built to operate across developed markets with foreign currency exposure hedged back to U.S. dollars. AltShares Merger Arbitrage ETF serves investors looking for a specialized event-driven equity strategy centered on announced deal activity rather than broad market direction.