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First Trust Merger Arbitrage Fund Class I VARBX

NAVChangeNet Expense RatioYTD Return
YTD Return is adjusted for possible sales charges, and assumes reinvestment of dividends and capital gains.
$10.770 (0.00%)1.75%1.61%
Quote data as of close 07/02/2026As of 05/31/2026

Regional Holdingsas of 03/31/2026

  0%
•
97.8%
North America
•
1.0%
Asia
•
0.9%
Europe
•
0.3%
Latin America
•
0.0%
Africa
•
0.0%
South Pacific
Regional Holdings is calculated only using the long position holdings of the portfolio.
Portfolio Overview
Total Assets$1.6B
Total Holdings207
Total Holdings (Long)196
Total Holdings (Short)11
Portfolio Turnover293%
VARBX has a Diversified Portfolio

Holdings Details

•
41.2% Category Average
•
44.1% Top Ten Holdings
Top 10 Holdings as of 03/31/2026
Symbol
Description
% of Net Assets
GTLSChart Industries Inc
Industrials
  • 7.06%
  •  
--Hologic Inc
  • 5.35%
  •  
--Sealed Air Corp
  • 5.32%
  •  
--Masimo Corp
  • 4.53%
  •  
EAElectronic Arts Inc
Communication Services
  • 4.39%
  •  
--Tri Pointe Homes Inc
  • 3.98%
  •  
PSAPublic Storage
Real Estate
  •  
  • -3.72%
NSANational Storage Affiliates Tr...
Real Estate
  • 3.70%
  •  
--Air Lease Corp Class A
  • 3.36%
  •  
--Clearwater Analytics Holdings ...
  • 2.69%
  •  
% of portfolio in top 10 holdings: 44.10%
Country Breakdown as of 03/31/2026
Country
% of Assets
United States
97.83% 
 
Singapore
0.60% 
 
United Kingdom
0.49% 
 
France
0.38% 
 
Mexico
0.26% 
 
Hong Kong
0.22% 
 
United Arab Emirates
0.21% 
 
% of portfolio in top 7 countries: 99.99%
Country Breakdown is calculated only using the long position holdings of the portfolio.
Portfolio Breakdown as of 03/31/2026
Asset Breakdown Chart
 %Long%Short%Net
•
Domestic Stock
98.936.0692.86
•
Foreign Stock
2.190.631.57
•
Cash
0.650.000.65
•
Other
4.920.004.92
Non-U.S. assets may include holdings that do not include a country identifier.
Market Capitalization
Pie Graph
•
Micro Cap
51.4%
•
Small Cap
38.0%
•
Mid Cap
10.5%

Avg. Market Cap: $2,009.91M
Market Capitalization is calculated only using the long position holdings of the portfolio.
Sector Weightings – Stocks
Pie Graph
•
Health Care
29.2%
•
Industrials
17.9%
•
Real Estate
12.5%
•
Information Tech
9.0%
•
Materials
8.9%
•
Financials
7.5%
•
Comm Services
7.3%
•
Consumer Disc
6.6%
•
Energy
0.9%

Sector Breakdown is calculated only using the long position holdings of the portfolio.
Sector Weightings – Fixed Income
Pie Graph
•
Cash & Equivalents
100.0%

Sector Breakdown is calculated only using the long position holdings of the portfolio.
 
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  • Investors should consider carefully information contained in the prospectus, including investment objectives, risks, charges and expenses. You can view, download, and print a prospectus by selecting the "View Prospectus" link at the top of the page. If there are remaining questions, please call 1-800-435-4000. Please read the prospectus carefully before investing.
  • Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a 3-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar risk-adjusted return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. (Each share class is counted as a fraction of 1 fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star.
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  • Market data for Daily Fund (NAVs) and charts facilitated by Fincentric™.
(1024-43GF)