Data as of .
ARB vs EVNT: which moved less with stocks?
Over the year to Sep 18, 2026, ARB moved less with the S&P 500 than EVNT: correlation +0.04 against +0.38.
ETFIQ Diversifier Score: ARB scores higher
How much does it diversify a stock portfolio?
A percentile among the 63 alternatives ETFs with a full year. It is a position in a set, not a rating, and neither end of it is a recommendation. All alternatives ETFs ranked by it · How it is computed
One strategy, two funds
ARB and EVNT both run a event driven strategy. Over the same 52 weeks to Sep 18, 2026, ARB’s weekly returns had a correlation of +0.04 with the S&P 500 and EVNT’s +0.38. In the 22 weeks the index fell, by 1.24% a week on average, ARB averaged +0.05% and EVNT +0.07%. Over the same weeks, ARB finished 0.6 percentage points behind cash and EVNT finished 4.9 points ahead of cash.
Performance, window by window
| Window | Total return | vs the S&P 500 | ||
|---|---|---|---|---|
| ARB | EVNT | ARB | EVNT | |
| 3 months | +0.7% | +2.0% | −1.6 pts | −0.2 pts |
| 6 months | +1.7% | +5.5% | −16.3 pts | −12.6 pts |
| 1 year | +3.1% | +8.4% | −13.5 pts | −8.2 pts |
| 3 years | +15.5% | +33.4% | −62.9 pts | −45.0 pts |
| Since launch | +29.1% | +27.2% | −160.5 pts | −60.4 pts |
| ARB AltShares Merger Arbitrage ETF Event driven fund: trades on company events, most often buying a company that has agreed to be taken over and holding it until the deal closes | EVNT AltShares Event-Driven ETF Event driven fund: trades on company events, most often buying a company that has agreed to be taken over and holding it until the deal closes | |
|---|---|---|
| Issuer | AltShares | AltShares |
| Strategy | Event driven | Event driven |
| Correlation with the S&P 500 | +0.04 | +0.38 |
| Beta to the S&P 500 | +0.01 | +0.15 |
| Down-week capture | −4.0% | −5.7% |
| Average week when the S&P 500 fell | +0.05% | +0.07% |
| The S&P 500 in those weeks | −1.24% | −1.24% |
| Total return, same 52 weeks | +3.0% | +8.6% |
| Against T-bills, percentage points | −0.6 pts | +4.9 pts |
| Expense ratio | 0.76% | 1.33% |
| Listed | May 7, 2020 | Sep 20, 2021 |
| Net assets | $103m | $12m |
ARB in plain words
ARB is an event driven fund. ETFIQ measures what every alternatives fund is sold on: whether it moves differently from the stock market. Over the year to Sep 18, 2026, its weekly returns had a correlation of +0.04 with the S&P 500’s and a beta of +0.01, so for each 1% the index moved it moved about 0.01% the same way. The S&P 500 fell in 22 of those 52 weeks, by 1.24% on average. In the same weeks ARB rose 0.05% on average, a down-week capture of −4.0%. Over the same 52 weeks ARB returned +3.0% and a Treasury bill fund +3.6%, so it finished 0.6 percentage points behind cash.
EVNT in plain words
EVNT is an event driven fund. Over the year to Sep 18, 2026, its weekly returns had a correlation of +0.38 with the S&P 500’s and a beta of +0.15, so for each 1% the index moved it moved about 0.15% the same way. In the same weeks EVNT rose 0.07% on average, a down-week capture of −5.7%. Over the same 52 weeks EVNT returned +8.6% and a Treasury bill fund +3.6%, so it finished 4.9 percentage points ahead of cash.
Questions people ask
- Which moved less with the S&P 500, ARB or EVNT?
- Over the 52 weeks to Sep 18, 2026, ARB’s weekly returns had a correlation of +0.04 with the S&P 500 and EVNT’s +0.38, so ARB moved less with the index.
- Which did better when the S&P 500 fell, ARB or EVNT?
- In the 22 weeks the S&P 500 fell, by 1.24% a week on average, ARB averaged +0.05% and EVNT +0.07%, so EVNT returned more in those weeks.
- Which earned more than cash, ARB or EVNT?
- Over the same weeks, ARB finished 0.6 percentage points behind cash and EVNT finished 4.9 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.
- Which is cheaper, ARB or EVNT?
- ARB charges 0.76% a year and EVNT charges 1.33%, so ARB is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, ARB against EVNT, data as of Sep 18, 2026. https://etfiq.com/compare/alternatives/arb-vs-evnt Free to use with attribution; the underlying files are at Open data.