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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-0.19% 3 years+2.57%
3 months-0.88% 5 years+2.53%
1 year-0.42% Since inception+6.50%
Data through --

Peer Comparisonvs. Market neutral

Performance 5-yr return+2.53%+1.42%
Expense ratio1.70%1.76%
Risk 5 year sharpe ratio1.050.23
Net assets$5.2B$520.7M
Average market cap$17.8B$35.2B
Average P/E23.720.2
Portfolio turnover137%137%

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Fund Management and Purchase Info

Fund familyMerger
Fund manager & tenureRoy Behren / 8 Years
Minimal initial investment$2,000.00
Minimum IRA investment$2,000.00


U.S. stock52.13%
Fixed income6.64%
International stock4.36%
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
-- 3.31%
TWC Time Warner Cable Inc3.31%
-- 2.89%
AIG AIG2.74%
-- 2.70%
HSP Hospira Inc2.35%
CMCSA Comcast2.28%
T AT&T2.24%
DOW Dow Chemical2.09%
IP International Paper Co1.98%