ARBNX Performance — The Arbitrage Fund, Class I
Data updated: 2026-09-25
ARBNX returned +1.13% year to date and +6.58% over one year to May 2026. Annualised returns are +6.82% over 3 years and +3.12% over 5 years. The fund trailed its US Mid-Cap Blend category average: $100 invested three years ago grew to $122, against $156 for the category, and to $107 over one year, against $122. Volatility over the past three years was 2.73% a year. In the 12 months to May 2026 the fund took in a net $107.0M, and assets reached $845.05M.
ARBNX Growth of $100
What $100 invested in The Arbitrage Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Mid-Cap Blend category average over the same months.
| Period | ARBNX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $107 | $122 |
| 3 years (Jun 2023 – May 2026) | $122 | $156 |
| 5 years (Jun 2021 – May 2026) | $117 | $143 |
| Since data start (Sep 2019 – May 2026) | $129 | $204 |
ARBNX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.13% |
| 1 year | +6.58% |
| 3 years (annualised) | +6.82% |
| 5 years (annualised) | +3.12% |
ARBNX Annual Returns
Calendar-year total returns of The Arbitrage Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.13% |
| 2025 | +8.29% |
| 2024 | +2.96% |
| 2023 | +6.06% |
| 2022 | −0.66% |
| 2021 | +1.04% |
| 2020 | +5.73% |
| 2019 (Sep–Dec) | +1.44% |
ARBNX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.2% | +0.6% | −0.1% | +0.2% | +0.1% | — | — | — | — | — | — | — |
| 2025 | +1.1% | +1.2% | +0.1% | −0.2% | +0.5% | +1.2% | +0.9% | +0.5% | +0.6% | +0.1% | +1.2% | +0.7% |
| 2024 | −0.4% | 0.0% | +1.5% | −1.8% | +0.5% | +0.5% | +1.7% | +0.4% | −0.2% | +0.7% | +0.2% | −0.1% |
| 2023 | +0.2% | −0.2% | +0.2% | +0.1% | −2.2% | +1.6% | +1.5% | +1.1% | +0.3% | −0.5% | +2.5% | +1.4% |
| 2022 | −1.1% | +0.1% | +0.7% | −0.6% | −0.9% | −1.4% | +1.6% | +0.5% | −0.8% | +1.7% | −1.0% | +0.6% |
| 2021 | +0.9% | +0.1% | +0.5% | +1.0% | +0.4% | −0.8% | −2.0% | +0.6% | +0.5% | +0.3% | −1.3% | +0.9% |
| 2020 | +0.4% | −0.4% | −2.8% | +3.5% | +0.3% | −0.1% | +0.8% | +0.5% | +0.3% | +0.6% | +1.2% | +1.4% |
| 2019 | — | — | — | — | — | — | — | — | +0.1% | +0.4% | +0.4% | +0.5% |
ARBNX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 2.73%
- 3-year Sharpe ratio: 0.85 (vs 4.5% risk-free rate)
- Best month: +2.47% (Nov 2023)
- Worst month: −1.80% (Apr 2024)
ARBNX Fund Flows
Monthly money in and out of The Arbitrage Fund, from SEC Form N-PORT.
- 12-month net flow: $107.0M
- 12-month gross sales (incl. reinvestments): $218.9M
- Sales ÷ redemptions: 1.96×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $30.9M | $5.9M | $24.9M |
| Apr 2026 | $10.0M | $6.4M | $3.6M |
| Mar 2026 | $13.1M | $9.5M | $3.5M |
| Feb 2026 | $26.3M | $5.6M | $20.7M |
| Jan 2026 | $17.5M | $12.2M | $5.3M |
| Dec 2025 | $68.3M | $12.6M | $55.7M |
| Nov 2025 | $7.3M | $8.9M | −$1.6M |
| Oct 2025 | $11.4M | $11.9M | −$428K |
| Sep 2025 | $7.8M | $11.7M | −$3.9M |
| Aug 2025 | $10.0M | $7.4M | $2.5M |
| Jul 2025 | $8.6M | $11.6M | −$3.0M |
| Jun 2025 | $7.7M | $8.2M | −$502K |
ARBNX Assets Under Management
Net assets of The Arbitrage Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $845.05M |
| 2026-02-28 | $810.85M |
| 2025-11-30 | $745.22M |
| 2025-08-31 | $737.06M |
| 2025-05-31 | $718.83M |
| 2025-02-28 | $941.27M |
| 2024-11-30 | $929.93M |
| 2024-08-31 | $940.18M |
| 2024-05-31 | $939.01M |
| 2024-02-29 | $988.19M |
| 2023-11-30 | $1.03B |
| 2023-08-31 | $1.05B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.