The Arbitrage Funds (ARB) Performance
ARB total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +3.4% since Dec 31, 2025
- 1 year
- +3.9% total return
- 5 years
- +4.2% a year
- Since first price
- +4.2% a year since 2020
ARB trailing returns vs SPY, QQQ, AGG
| Period | ARB total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.4% | +0.4% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.4% | +1.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +2.6% | +2.6% | +7.8% | +8.4% | −1.5% |
| YTD | +3.4% | +3.4% | +12.3% | +15.1% | −1.0% |
| 1 year | +3.9% | +3.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +16.1%+5.1%/yr | +14.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +22.5%+4.2%/yr | +15.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionMay 7, 2020 | +30.3%+4.2%/yr | +19.7% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: ARB vs SPY
From May 7, 2020: ARB grew to $13,027, SPY to $28,884.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
ARB returns by calendar year
5 of 5 full years positive. Best 2025 (+6.1%), worst 2022 (+2.7%). 2026 is year to date.
ARB annual returns table
| Year | ARB | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +3.4% | −2.1% | +12.3% | +15.1% | −1.0% |
| 2025 | +6.1% | −1.3% | +17.7% | +20.8% | +7.2% |
| 2024 | +4.1% | −2.1% | +24.9% | +25.6% | +1.3% |
| 2023 | +3.8% | −4.4% | +26.2% | +54.9% | +5.7% |
| 2022 | +2.7% | −4.1% | −18.2% | −32.6% | −13.0% |
| 2021 | +3.2% | −3.3% | +28.7% | +27.4% | −1.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
ARB risk statistics
| Statistic | 3 years | 5 years | Since 2020 |
|---|---|---|---|
| Annualized return | +5.0% | +4.2% | +4.6% |
| Volatility (annualized) | 2.2% | 2.7% | 3.0% |
| Sharpe ratio | 0.26 | 0.22 | 0.55 |
| Sortino ratio | 0.34 | 0.30 | 0.94 |
| Best month | +1.6% | +2.3% | +4.2% |
| Worst month | −1.8% | −1.9% | −1.9% |
| Best 12 months | +7.0% | +7.2% | +8.6% |
| Worst 12 months | +3.2% | −0.3% | −0.3% |
| Positive months | 75% | 72% | 70% |
| Beta vs S&P 500 | 0.05 | 0.05 | — |
| Correlation with S&P 500 | 0.31 | 0.27 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
ARB rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 66 | −0.3% | +4.2% | +8.6% | 98% |
| 3-year (a year) | 42 | +2.5% | +3.9% | +5.7% | 100% |
| 5-year (a year) | 18 | +3.9% | +4.1% | +4.8% | 100% |
Every holding period starting at a month-end since 2020. Returns for 3 years and longer are annualized.
ARB performance overview
The Arbitrage Funds (ARB) returned +3.9% over the past year and +4.2% a year over five years, with distributions reinvested. Since its first recorded price in 2020 it has returned +4.2% a year, turning $10,000 into about $13,027. Over the same year S&P 500 (SPY) returned +14.4%.
Related: ARB chart, ARB dividends. See the ARB overview for the latest quote and fund facts.
ARB performance FAQ
What is the ARB return over the past year?
ARB returned +3.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 3.5%.
What is the average annual return of ARB?
ARB has returned +4.2% a year over 5 years, +4.2% a year since May 7, 2020 (total return, distributions reinvested).
How much would $10,000 invested in ARB be worth?
$10,000 invested in ARB at its first recorded close on May 7, 2020 would be worth about $13,027 on October 23, 2026 with distributions reinvested.
What was the worst year for ARB?
The worst calendar year was 2022, with a total return of +2.7%. The best was 2025 at +6.1%.
How volatile is ARB?
Over the past 3 years ARB had an annualized volatility of 2.2% and a Sharpe ratio of 0.26 (excess return over 1–3 month T-bills per unit of risk).