First Trust Merger Arbitrage Cl C (VARCX)
| Fund Assets | 1.53B |
| Expense Ratio | 2.81% |
| Min. Investment | $1,000 |
| Turnover | 403.00% |
| Dividend (ttm) | 0.63 |
| Dividend Yield | 5.72% |
| Dividend Growth | n/a |
| Payout Frequency | n/a |
| Ex-Dividend Date | Dec 5, 2024 |
| Previous Close | 10.95 |
| YTD Return | 4.58% |
| 1-Year Return | 5.32% |
| 5-Year Return | n/a |
| 52-Week Low | 10.45 |
| 52-Week High | 11.07 |
| Beta (5Y) | n/a |
| Holdings | 137 |
| Inception Date | Jan 31, 2024 |
About VARCX
First Trust Merger Arbitrage Fund Class C is an event-driven mutual fund designed to deliver capital appreciation and returns that are largely uncorrelated with general stock market movements. Its core strategy centers on merger arbitrage, which involves investing primarily in the equity securities of publicly traded companies undergoing significant corporate events such as mergers or acquisitions. The fund's approach typically seeks to capture the price spread between a target company's market price after a deal's announcement and its expected acquisition price, aiming to earn modest but repeatable gains while managing risks tied to deal completion and regulatory factors. This fund can invest across a wide range of sectors and industries, with a focus on U.S. and Canadian issuers, though it may also hold positions in foreign markets and in securities of special purpose acquisition companies (SPACs). The fund manager employs various hedging techniques and occasionally uses leverage to enhance returns. With a low correlation to traditional stock or bond benchmarks, the fund is often positioned as a diversification tool within investor portfolios, especially for those seeking lower volatility and performance consistency across different market environments.
Performance
VARCX had a total return of 5.32% in the past year, including dividends. Since the fund's inception, the average annual return has been 5.12%.
Top 10 Holdings
46.65% of assets| Name | Symbol | Weight |
|---|---|---|
| MSILF Government Portfolio - Class Institutional | MVRXX | 11.71% |
| Dun & Bradstreet Holdings, Inc. | DNB | 5.43% |
| Springworks Therapeutics, Inc. | SWTX | 5.06% |
| Skechers USA, Inc. | SKX | 5.00% |
| Kellanova | K | 4.06% |
| Enstar Group Ltd. | ESGR | 3.58% |
| UMB MONEY MARKET II SPECIAL / | SMMFIDU | 3.40% |
| Blueprint Medicines Corporation | BPMC | 3.28% |
| The AZEK Company Inc. | AZEK | 3.06% |
| Agriculture & Natural Solutions Acquisition Corporation | ANSC | 2.08% |