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The Merger Fund® Investor Class (MERFX)

Net Asset Value
1 Day
Overall Morningstar Rating
Market neutral
Style or Category
No Load
Sales Expenses
Expense Ratio
Below Average
Morningstar Risk Rating™
Investment Objective The investment seeks capital growth by engaging in merger arbitrage. Under normal market conditions, the fund invests at least 80% of its total assets principally in the common stock, preferred stock and, occasionally, warrants of companies which are involved in publicly announced mergers, takeovers, tender offers, leveraged buyouts, spin-offs, liquidations and other corporate reorganizations. Merger arbitrage is a highly specialized investment approach generally designed to profit from the successful completion of such transactions.


1 month-0.33% 3 years+0.96%
3 months-1.04% 5 years+1.32%
1 year-3.30% Since inception+6.25%
Data through --

Peer Comparisonvs. Market neutral

Performance 5-yr return+1.32%+1.41%
Expense ratio1.70%1.67%
Risk 5 year sharpe ratio0.510.13
Net assets$4.6B$422.5M
Average market cap$17.9B$23.8B
Average P/E18.318.8
Portfolio turnover137%137%

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Fund Management and Purchase Info

Fund familyMerger
Fund manager & tenureRoy Behren / 9 Years
Minimal initial investment$2,000.00
Minimum IRA investment$2,000.00


U.S. stock72.81%
Fixed income5.48%
International stock0.00%
Top 5 Sectors
Portfolio weighting
Industrial materials 22.94%
Healthcare 20.47%
Telecommunication 11.34%
Consumer goods 10.14%
Business service 4.52%
Top 10 Holdings
Portfolio weighting
-- 4.55%
TWC Time Warner Cable Inc3.36%
AIG AIG3.25%
-- 2.89%
-- 2.87%
PRE PartnerRe Ltd2.67%
-- 2.23%
-- 2.14%
TMUS T-Mobile US Inc1.92%
DOW Dow Chemical1.87%

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