VARBX

Active

First Trust Merger Arbitrage Fund

Category: Other (5,046 funds)

Expense Ratio

1.84%

Annual Cost per $10K

$184.00

30-Year Fee Drag per $10K

$30,883

at 7% annual return

Fund Type

Mutual Fund

Active

Trailing 12-Month

+5.62%

Asset Allocation

US Equity

58%

Intl Equity

16%

Cash

20%

Other

Fee Comparison

VARBX

1.84%

Other average

0.99%

Other cheapest

FCDSX

0.00%

Index benchmark

0.03%

86% more expensive than category average

Historical Returns

Monthly total returns (dividends reinvested) from SEC N-PORT filings · As of December 2025 · Updated quarterly

+15.56%3Y

Compare to

Fee Impact Calculator

Investment

Years

Annual Return

VARBX at 1.84%$226,197

At index rates (0.03%)$377,424

Zero fees (theoretical)$380,613

Total fee drag$154,415

Cost vs index fund−$151,227

Similar Funds (100)

Ranked by allocation similarity weighted by fund size · Returns (dividends reinvested) from SEC N-PORT filings · As of December 2025

Ticker	Name	ER	1yr	3yr	5yr
VARBX	First Trust Merger Arbitrage Fund	1.84%	+5.62%	+4.94%	+5.28%
ARBCX	THE ARBITRAGE FUND	1.71%	+5.12%	+3.97%	+2.61%
SOXL	Direxion Daily Semiconductor Bull 3X Shares	0.75%	+60.66%	+76.46%	+24.25%
BRBCX	BlackRock Tactical Opportunities Fund	1.04%	+8.01%	+7.17%	+5.00%
TQQQ	ProShares UltraPro QQQ	0.84%	+31.32%	+49.61%	+18.09%
QCSTFX	College Retirement Equities Fund - Stock Account	—	+18.92%	+20.20%	—
RFNAX	American Funds Fundamental Investors	1.37%	+21.05%	+22.85%	+16.25%
SWMIX	Schwab International Opportunities Fund	0.85%	+23.81%	+17.00%	+6.86%
FNNEX	New Economy Fund	0.47%	+19.36%	+21.34%	+11.35%
llscx	Longleaf Partners Small Cap Fund	0.95%	+5.79%	+10.92%	+8.26%
CRTOX	Potomac Tactical Opportunities Fund	1.74%	+18.36%	+9.94%	+6.70%
MXXIX	Marsico Midcap Growth Focus Fund	1.46%	+37.51%	+28.51%	+14.69%
GARUX	Goldman Sachs Absolute Return Tracker Fund	0.73%	+9.45%	+9.32%	+6.69%
VGHAX	VANGUARD HEALTH CARE FUND	0.32%	+0.60%	+5.36%	+6.99%
OWSMX	Old Westbury Small & Mid Cap Strategies Fund	1.13%	+13.77%	+12.64%	+6.51%
QCGLFX	College Retirement Equities Fund - Global Equities Account	—	+19.54%	+21.44%	—
IBB	iShares Biotechnology ETF	0.44%	+0.30%	+3.23%	+1.75%
YACKX	AMG Yacktman Fund$1M min	0.62%	+15.37%	+13.06%	+13.89%
CGLGX	American Funds Growth and Income Portfolio	0.92%	+18.14%	+18.35%	+12.44%
IILGX	THRIVENT GLOBAL STOCK FUND	0.65%	+19.81%	+19.59%	+14.09%
GSKPX	Goldman Sachs Tax-Advantaged Global Equity Portfolio	1.22%	+14.09%	+16.67%	+12.41%
OWLSX	Old Westbury Large Cap Strategies Fund	1.09%	+19.20%	+19.95%	+11.94%
MFLLX	Inception Portfolio	0.93%	+35.09%	+23.70%	+5.69%
AAHTX	American Funds 2045 Target Date Retirement Fund	0.69%	+19.32%	+18.79%	+12.39%
UPRO	ProShares UltraPro S&P500	0.91%	+24.55%	+39.00%	+26.71%
DIEZX	Destinations International Equity Fund	1.07%	+13.39%	+13.96%	+5.65%
AALTX	American Funds 2050 Target Date Retirement Fund	0.69%	+19.54%	+19.11%	+12.43%
PBW	Invesco WilderHill Clean Energy ETF	0.64%	+69.27%	-7.80%	-9.92%
TIBOX	Thornburg Investment Income Builder Fund	0.84%	+30.88%	+23.10%	+18.21%
PHLQX	PGIM Jennison Health Sciences Fund	0.77%	-11.75%	+9.44%	+6.55%
VIOPX	International Opportunities Fund	1.01%	+11.96%	+11.78%	—
FMSHX	Franklin Mutual Shares Fund	0.70%	+9.29%	+12.67%	+13.32%
JAFVX	Strategic Equity Allocation Trust	0.92%	+19.27%	+19.74%	+14.58%
MAGEX	MFS Growth Allocation Fund	1.19%	+9.74%	+11.71%	+8.24%
CDAZX	Multi-Manager Directional Alternative Strategies Fund$1M min	2.42%	+18.70%	+13.71%	+13.10%
HRSIX	Hood River Small-Cap Growth Fund	1.07%	+21.83%	+21.12%	+17.83%
UOPIX	ULTRANASDAQ-100 PROFUND	1.45%	+51.52%	+55.94%	+27.87%
NMAVX	Nuance Mid Cap Value Fund	0.81%	-0.29%	+5.15%	+5.86%
PRJAX	PGIM Jennison Global Opportunities Fund	1.08%	+11.79%	+23.36%	+8.56%
TMF	Direxion Daily 20+ Year Treasury Bull 3X Shares	0.91%	-11.13%	-13.72%	-33.59%
JGLYX	JPMorgan Small Cap Growth Fund	1.24%	+4.23%	+7.35%	+1.28%
SPXL	Direxion Daily S&P 500 Bull 3X Shares	0.87%	+43.27%	+51.71%	+36.92%
ERBAX	Eaton Vance Equity Strategy Fund	1.12%	+9.53%	+13.12%	+8.97%
FINHX	Fidelity Equity-Income Fund	—	—	—	—
SVAAX	Federated Hermes Strategic Value Dividend Fund	1.06%	+8.08%	+9.35%	+13.06%
ACSHX	Invesco Comstock Fund	0.51%	+12.71%	+14.13%	+19.36%
IWO	iShares Russell 2000 Growth ETF	0.24%	+13.49%	+12.64%	+7.89%
FAS	Direxion Daily Financial Bull 3X Shares	0.89%	+16.83%	+31.53%	+38.28%
WINAX	Wilmington International Fund	0.86%	+25.07%	+20.27%	+9.12%
KAUAX	Federated Hermes Kaufmann Fund	1.96%	+15.32%	+14.20%	+4.26%
LABU	Direxion Daily S&P Biotech Bull 3X Shares	0.93%	+10.11%	-3.72%	-34.16%
PSGFX	SAM Strategic Growth Portfolio	1.07%	+16.51%	+18.65%	+13.00%
MIGBX	MFS Massachusetts Investors Growth Stock Fund	1.46%	+7.52%	+13.86%	+10.57%
RYTRX	Royce Small-Cap Total Return Fund	1.21%	+7.60%	+12.33%	+13.30%
FKALX	Federated Hermes Kaufmann Small Cap Fund	1.36%	+12.24%	+11.20%	+4.49%
TECL	Direxion Daily Technology Bull 3X Shares	0.85%	+80.61%	+79.78%	+42.54%
VVOAX	Invesco Value Opportunities Fund	1.27%	+18.64%	+20.63%	+24.43%
AADAX	Invesco Select Risk: Growth Investor Fund	1.71%	+14.35%	+13.29%	+8.40%
HFCSX	Hennessy Focus Fund	1.49%	+32.83%	+23.79%	+16.64%
VHGEX	VANGUARD GLOBAL EQUITY FUND	0.39%	+20.18%	+20.78%	+11.89%
CGGEX	American Funds Global Growth Portfolio	1.07%	+22.40%	+21.16%	+11.42%
MVALX	Meridian Contrarian Fund	1.12%	+19.82%	+12.36%	+13.55%
FCAGX	Fidelity Small Cap Growth Fund	0.92%	-11.50%	-33.45%	-40.48%
TGIPX	T. Rowe Price Spectrum Moderate Growth Allocation Fund	0.64%	+10.57%	+13.30%	+8.45%
INDS	Pacer Industrial Real Estate ETF	0.55%	-1.27%	+3.25%	+5.02%
TTMIX	T. Rowe Price Communications & Technology Fund	0.67%	+19.17%	+27.37%	+9.42%
PRFZ	Invesco RAFI US 1500 Small-Mid ETF	0.39%	+12.07%	+13.06%	+15.09%
FDVLX	Fidelity Value Fund	0.68%	+5.77%	+11.81%	+16.66%
DGEIX	GLOBAL EQUITY PORTFOLIO$1M min	0.26%	+18.43%	+19.10%	+15.44%
FOCSX	Fidelity Small Cap Growth K6 Fund	0.61%	+12.88%	+16.45%	+10.84%
BIVRX	Invenomic Fund	3.41%	-5.00%	+2.13%	+23.05%
FFTY	Innovator IBD(R) 50 ETF	0.80%	+53.63%	+17.47%	+3.40%
llpfx	Longleaf Partners Fund	0.79%	-3.59%	+10.24%	+9.20%
PAEBX	Putnam Dynamic Asset Allocation Growth Fund	0.68%	+32.47%	+6.87%	+10.02%
FLSP	Franklin Systematic Style Premia ETF	0.65%	+12.61%	+8.41%	+7.02%
AXBAX	Columbia Capital Allocation Aggressive Portfolio	1.03%	+19.92%	+18.54%	+12.03%
URTY	ProShares UltraPro Russell2000	0.95%	-4.79%	+1.87%	+4.29%
FKMCX	Fidelity Mid-Cap Stock Fund	1.69%	+10.06%	+11.41%	+14.78%
PFLJX	Principal LifeTime 2050 Fund	0.88%	+16.21%	+17.21%	+11.63%
TTFIX	Nuveen Lifecycle 2045 Fund	0.68%	+10.73%	+14.58%	+9.87%
FCFWX	American Funds Retirement Income Portfolio - Enhanced	1.14%	+14.79%	+14.11%	+10.22%
BKCH	Global X Blockchain ETF	0.50%	+57.01%	+36.90%	—
AQGRX	AQR Global Equity Fund	0.72%	+34.41%	+26.54%	+18.80%
PEJ	Invesco Leisure and Entertainment ETF	0.57%	+18.84%	+15.36%	+14.87%
PNSAX	Putnam Small Cap Growth Fund	1.17%	+16.26%	+22.02%	+8.87%
FBDIX	Franklin Biotechnology Discovery Fund	0.77%	+27.62%	+20.92%	+7.42%
GTSAX	Invesco Small Cap Growth Fund	0.81%	+3.68%	+8.55%	+3.19%
MAMAX	MFS Moderate Allocation Fund	0.56%	+8.47%	+9.69%	+6.27%
FHCLX	Select Health Care Portfolio	—	—	—	—
BIB	ProShares Ultra Nasdaq Biotechnology	0.95%	-16.62%	+3.77%	-4.40%
ARANX	Horizon Active Risk Assist Fund	1.32%	+7.14%	+11.77%	+8.89%
llglx	Longleaf Partners Global Fund	1.05%	+5.24%	+17.11%	+8.26%
UYM	ProShares Ultra Materials	0.95%	-10.10%	+9.72%	+13.37%
MERFX	The Merger Fund	1.56%	-3.52%	-35.79%	-33.41%
BGSAX	BlackRock Technology Opportunities Fund	1.92%	+22.69%	+25.02%	+10.80%
TCLPX	Nuveen Lifecycle 2050 Fund	0.69%	+10.95%	+14.86%	+10.00%
FEVRX	First Eagle U.S. Fund	0.78%	+14.46%	+17.68%	+14.72%
AMTZX	AB All Market Real Return Portfolio	0.88%	+15.85%	+10.26%	+12.84%
MGISX	GLOBAL FRANCHISE PORTFOLIO	0.83%	+3.71%	+11.65%	+8.17%
USAI	Pacer American Energy Independence ETF	0.75%	+6.09%	+15.35%	+26.39%
TCLOX	Nuveen Lifecycle 2040 Fund	0.50%	+9.79%	+13.36%	+8.78%

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