IQ

RSBA Return Stacked Bonds & Merger Arbitrage ETF

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$20.66
+0.8% · 1 day, price
IQ’s readingComputed nightly from ETFIQ data. Not written live.

Over the year to Nov 4, 2026, RSBA lost 0.7%, against −0.2% for SPTB.

Why did RSBA return +6.0% from Dec 2024 to Oct 2026, against SPTB’s +6.1%?Is a 1.01% fee low for a fund like RSBA?What do RSBA’s net flows of +$53.1m over the since Dec 2024 mean?
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 closesReturn Stacked ↗Expense ratio 1.01%Fund assets $53m net assets, latest filing (Jul 31, 2026)First traded Dec 18, 2024Benchmark Bloomberg U.S. Treasury Index, measured by SPTB, which tracks the same indexSEC filings ↗Every Return Stacked fund ETFIQ coversDividend history

Promise check: Not measuredIts strategy, event driven, states no objective ETFIQ can measure.

Compare with…Trading costsPut to the committeeaskIQ about RSBAAdd to portfolioFlowsAlerts

RSBA risk and return scorecard

vs SPTB · Dec 2024 to Oct 2026 · 96 weekly returns · dividend-adjusted

Short history · 22 months
RSBA +6.0%, SPTB +6.1%, Dec 2024 to Oct 2026, distributions reinvested.
Return
MeasureRSBASPTBEdge
Total return+6.0%+6.1%Tie
Annualized+3.2%+3.3%Tie
Price return+2.6%−1.4%RSBA
Risk
MeasureRSBASPTBEdge
Volatility4.6%4.0%SPTB
Max drawdown−6.0%−4.4%SPTB
Upside capture115.0%100.0%RSBA
Downside capture115.0%100.0%SPTB
Risk-adjusted
MeasureRSBASPTBEdge
Sharpe ratio−0.16−0.18RSBA
Sortino ratio−0.20−0.23RSBA
Alpha vs SPTB
MeasureRSBASPTBEdge
Alpha, a year0.0%Not significant
Alpha t-stat0.03
Beta to SPTB1.061.00Higher beta

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent Method · Data

Money in and out

Net fund flows · Jul 31, 2026
12 months to Jul 31, 2026
+$37.1m
Since Dec 2024
+$53.1m
askIQ: what do these flows mean? ↗

What you earned

RSBA +4.1%, SPTB +2.6%: total return over one month to Nov 4, 2026.
RSBA+4.1%
SPTB+2.6%
RSBA −1.1%, SPTB 0.0%: total return over three months to Nov 4, 2026.
RSBA−1.1%
SPTB0.0%
RSBA −1.1%, SPTB −0.5%: total return over six months to Nov 4, 2026.
RSBA−1.1%
SPTB−0.5%
RSBA −0.9%, SPTB −0.2%: total return over the year to Nov 4, 2026.
RSBA−0.9%
SPTB−0.2%
RSBA −0.7%, SPTB −0.2%: total return over one year to Nov 4, 2026.
RSBA−0.7%
SPTB−0.2%
RSBA +6.7%, SPTB +5.8%: total return since launch to Nov 4, 2026.
RSBA+6.7%
SPTB+5.8%
askIQ: why did RSBA return −0.7% over one year, against SPTB’s −0.2%? ↗

How concentrated, and what does it cost?

+0.31
Correlation with the S&P 500
Report
+0.11
Beta to the S&P 500
Report
13.5%
Down-week capture
Report
−3.9 pts
Against T-bills, 52 weeks
Report
3.3%
12-month yield, capital gains included, on its starting price
Report
$0.7029
Last payment, ex-date Dec 29, 2025
Report
Sector mix
Cost against like funds
askIQ: is a 1.01% fee low for a fund like RSBA? ↗

More on RSBA

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Price and total return, 1 year

$20.66+0.8%1 day, priceClose, Nov 4, 2026

Total return adds every distribution, reinvested. Computed by ETFIQ from Tiingo daily prices.

Source: Tiingo end-of-day prices. Data as of Nov 4, 2026. Updated every trading night. Report a data error

RSBA returns by window: total return, cash paid and price change
WindowTotal returnBenchmark (SPTB)Gap to SPTBS&P 500 (SPY)
1M Oct 5 – Nov 4, 2026+4.1%+2.6%+1.5 pts−1.0%
3M Aug 5 – Nov 4, 2026−1.1%0.0%−1.1 pts−0.1%
6M May 6 – Nov 4, 2026−1.1%−0.5%−0.6 pts+5.0%
YTD Dec 31, 2025 – Nov 4, 2026−0.9%−0.2%−0.7 pts+13.3%
1Y Nov 4, 2025 – Nov 4, 2026−0.7%−0.2%−0.5 pts+14.8%
Since launch Dec 18, 2024 – Nov 4, 2026+6.7%+5.8%+0.9 pts+33.8%
Since launch, annualised Dec 18, 2024 – Nov 4, 2026+3.5%–––

Total returns, distributions reinvested. Listed Dec 2024: no 3 years windows.

Source: Tiingo end-of-day prices, with distributions reinvested.

Fell 14% as much as the S&P 500
Fell 14% as much as the S&P 500RSBA in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, RSBA −0.14%.SPY−1.07%RSBA−0.14%Average week when SPY fell: 26 of 52, year to Nov 4, 2026Fell 14% as much as the S&P 500RSBA in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, RSBA −0.14%.SPY−1.07%RSBA−0.14%Average week when SPY fell

RSBA in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, RSBA −0.14%.

Money in and out

Monthly data · as of Jul 31, 2026

RSBA: in the month to Jul 31, 2026, net $3.6m came in, by its SEC filing.

12 months
+$37.1m
221.7% of $16.7m on Jul 31, 2025
Aug 1, 2025 to Jul 31, 2026
monthly, from SEC filings
Since Dec 2024
+$53.1m
Dec 1, 2024 to Jul 31, 2026
monthly, from SEC filings

Computed by ETFIQ from the monthly sales and redemptions RSBA files with the SEC on Form N-PORT.

How this is computed

ETFIQ reads no daily data for this fund, so its flows are monthly, and the latest month filed is Jul 2026. Every day and month ETFIQ holds for RSBA, back to Dec 2024, is in its flows file. Flows across every fund · How these flows are computed · Compare RSBA with other funds in the flows tool

Month by month, money in and money outDec 2024 to Jul 2026

RSBA, money in and money out each month from Dec 2024 to Jul 2026: two bars a month, money in above the line and money out below. Every bar is from RSBA’s SEC filings (N-PORT item B.6). Of the 20 months listed, money came in on net in 13 and went out in 6.

Every bar is from RSBA’s SEC filings (N-PORT item B.6). Of the 20 months listed, money came in on net in 13 and went out in 6.

MonthInOutNet
Jul 2026 SEC Form N-PORT+$3.6m$0+$3.6m
Jun 2026 SEC Form N-PORT+$1.6m$0+$1.6m
May 2026 SEC Form N-PORT+$1.6m−$6.2m−$4.7m
Apr 2026 SEC Form N-PORT+$522k−$5.2m−$4.7m
Mar 2026 SEC Form N-PORT+$2.1m−$5.8m−$3.7m
Feb 2026 SEC Form N-PORT+$9.5m$0+$9.5m
Jan 2026 SEC Form N-PORT+$20.4m$0+$20.4m
Dec 2025 SEC Form N-PORT+$6.5m$0+$6.5m
Nov 2025 SEC Form N-PORT+$1.6m$0+$1.6m
Oct 2025 SEC Form N-PORT+$4.8m$0+$4.8m
Sep 2025 SEC Form N-PORT+$1.6m$0+$1.6m
Aug 2025 SEC Form N-PORT+$1.1m−$531k+$527k
Jul 2025 SEC Form N-PORT$0−$1.0m−$1.0m
Jun 2025 SEC Form N-PORT+$514k−$2.1m−$1.6m
May 2025 SEC Form N-PORT$0$0$0
Apr 2025 SEC Form N-PORT+$2.5m−$2.6m−$27k
Mar 2025 SEC Form N-PORT+$3.1m$0+$3.1m
Feb 2025 SEC Form N-PORT+$6.6m$0+$6.6m
Jan 2025 SEC Form N-PORT+$497k$0+$497k
Dec 2024 SEC Form N-PORT+$8.5m$0+$8.5m

Most recent first.

How this is computed

N-PORT months: money in is sales plus reinvestments; money out is redemptions.

N-PORT months are the filed sales plus reinvestments less redemptions. Later months add up the daily data; the Source column names any missing day.

Source: ETFIQ, from the fund’s SEC N-PORT filings. Data as of Jul 31, 2026. Updated when the fund files its next report.

RSBA key stats

52-week high, daily closes to Nov 4, 2026 (ETFIQ)$21.75 on Nov 26, 2025
52-week low, daily closes to Nov 4, 2026 (ETFIQ)$19.83 on Sep 30, 2026
Close on Nov 4, 2026, within that range (ETFIQ)$20.66, 44% of the way from the low to the high
Beta to its benchmark, 1 year (ETFIQ)1.21, against SPTB
R-squared, the same days (ETFIQ)0.77
Beta and R-squared measured over251 daily total returns, Nov 5, 2025 to Nov 4, 2026
Range, beta and R-squared computed by ETFIQ from Tiingo daily prices.

Trading

as of Apr 10, 2026
Trading · RSBAas of Apr 10, 2026
·
Not scored1 of 6 measured · Apr 10, 2026
0 · Hard to tradeIQ Liquidity Score100 · Trades like a giant
Cost for your order · one way, half its 30-day median spread
How to tradeSpread not read.
Full trading page: components, premium history, dealers →

RSBA for holders outside the US

US tax withheld on dividends, no treaty30%
Treaty rates on dividends (IRS table, read Oct 30, 2026)65 countries, 10% to 30%
RSBA interest-related and short-term gain dividendsnot read by ETFIQ
US estate tax filing threshold, non-resident holders$60,000
Share classDistributing

RSBA is a US fund. Stock of US corporations counts as US property for a non-resident's estate. Facts from the IRS, not tax advice. How withholding and treaties work

About RSBA

IssuerReturn Stacked
Strategy (ETFIQ, from its prospectus)Event driven
Expense ratio (485BPOS XBRL, Apr 27, 2026)1.01%Report
Net assets (SEC N-PORT, whole fund, as filed for Jul 31, 2026)$53mReport
Benchmark (ETFIQ, from its filings)Bloomberg U.S. Treasury Index, measured by SPTB, which tracks the same index
Benchmark named inits shareholder report, N-CSR, Apr 9, 2026
RSBA, 1 year to Nov 4, 2026−0.7%
SPTB, the same days−0.2%
Against its benchmark, 1 year (ETFIQ)−0.5 pts
Weeks measured52, from Nov 5, 2025 to Nov 4, 2026
Weeks the S&P 500 fell26
The S&P 500 in those weeks, on average−1.07%
RSBA in those weeks, on average−0.14%
RSBA total return over those weeks−0.3%
T-bills (BIL) over the same weeks+3.7%
When stocks fellS&P 500 −4.9% in March 2026; RSBA −1.8%
Weekly correlation with the S&P 500+0.31, 52 weeks to Nov 4, 2026
First tradedDec 18, 2024
Days traded471
Quotedon an exchange, every trading day
How we measure
Weekly closes from Tiingo with distributions reinvested, 52 weeks to the same date for the fund, SPY and BIL. ETFIQ calculation. Method
IQ Investment Committee on RSBA

12 seats on RSBA, as of Nov 4, 2026: 1 Mixed, 2 Challenges, 8 Not enough data, 1 Does not apply.

In the tradition ofJohn BogleBogle-style Low CostChallenges
In the tradition ofBenjamin GrahamGraham-style Margin of SafetyNot enough data
In the tradition ofWarren Buffett & Charlie MungerBuffett & Munger-style QualityNot enough data
In the tradition ofPeter LynchLynch-style Growth at a Reasonable PriceNot enough data
In the tradition ofJohn TempletonTempleton-style Global ContrarianNot enough data
In the tradition ofRay DalioDalio-style All-WeatherNot enough data
In the tradition ofHoward MarksMarks-style Cycles & RiskNot enough data
In the tradition ofStanley DruckenmillerDruckenmiller-style Macro & LiquidityDoes not apply
In the tradition ofDavid SwensenSwensen-style DiversificationChallenges
In the tradition ofCathie WoodWood-style Disruptive InnovationNot enough data
In the tradition ofJesse LivermoreLivermore-style Trend FollowingMixed
Uses ETFIQ’s measuresThe ETFIQ SkepticETFIQ’s own seatNot enough data
Put RSBA to the committee →See all seats →No investor named is affiliated with or endorses ETFIQ. Not investment advice.

Questions people ask about RSBA

Does RSBA move with the S&P 500?
Over the year to Nov 4, 2026, RSBA’s weekly returns had a correlation of +0.31 with the S&P 500’s, on a scale where 1 moves in step, 0 shows no pattern and −1 moves opposite. Its beta was +0.11, so for each 1% the index moved it moved about 0.11% the same way.
What did RSBA do when stocks fell?
The S&P 500 fell in 26 of the 52 weeks to Nov 4, 2026, by 1.07% on average. In those weeks RSBA fell 0.14% on average, a down-week capture of 13.5%.
Did RSBA earn more than cash?
Over the same 52 weeks RSBA returned −0.3% with distributions reinvested, and BIL, a fund of Treasury bills, returned +3.7%. RSBA finished 3.9 percentage points behind it.
What does RSBA cost?
The prospectus expense ratio is 1.01% a year.
Why is RSBA listed as event driven?
ETFIQ files each fund by what its own prospectus says it does, and RSBA’s, filed Apr 27, 2026, describes an event driven fund.
Sources and dates
Prices, RSBA, Benchmark (SPTB) and S&P 500 (SPY)Prices, Tiingo end of day ↗
Fee, 1.01%Prospectus filing with the expense ratio (SEC) ↗
Net assets, $53mSEC N-PORT, whole fund · Jul 31, 2026
SourceProspectus the strategy was read from (SEC) ↗
IssuerReturn Stacked website ↗
All fund filingsFund filings on SEC EDGAR ↗

Links are sources, not endorsements.

Method →Standards and sources →Open data →
Cite this pageCitation, APA and Markdown

ETFIQ, RSBA, alternatives ETFs, data as of Nov 4, 2026. https://etfiq.com/funds/rsba

The down-week bars for RSBA, redrawn every trading night.

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.

Correlation
How closely the fund’s weekly returns moved with the S&P 500’s over the last year, from −1 to 1. At 1 the two rise and fall together, at 0 there is no pattern, and below 0 the fund tended to move the other way.
Beta
How far the fund moved, on average, for each 1% move in the S&P 500 over the same weeks. At 0.3 it moved about 0.3% the same way; below 0 it moved the other way.
Down week
A week in which the S&P 500 fell, measured through SPY with dividends reinvested. A week that ended exactly level is not a down week.
Down-week capture
The fund’s average return in the S&P 500’s down weeks as a share of the index’s own average in those weeks. At 100% it fell as much, at 50% half as much, and below zero it rose. It is weekly and covers one year, so it is not the same number as Morningstar’s downside capture.
Against T-bills
The fund’s total return minus a short Treasury bill fund’s (BIL) over the same year, in percentage points. A fund can steady a portfolio and still earn less than cash.
Full definitions: alternatives ETFs vocabulary page. →
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RSBA: RSBA in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, RSBA −0.14%.
<figure style="margin:0;max-width:640px">
<iframe src="https://etfiq.com/embed/alternatives/rsba/" title="RSBA: RSBA in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, RSBA −0.14%." width="640" height="334" loading="lazy" style="border:0;max-width:100%;width:100%"></iframe>
<figcaption style="font:13px/1.5 sans-serif">RSBA: RSBA in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, RSBA −0.14%. Data: <a href="https://etfiq.com/funds/rsba">ETFIQ</a></figcaption>
</figure>

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Snapshot, Nov 4, 2026. More on the tabs above.