Morningstar

Water Island Credit Opportunities Fund Class R ARCFX

Morningstar Medalist Rating
Medalist Rating as of | See Arbitrage Fund Investment Hub
  • NAV / 1-Day Return 9.81  /  +0.10 %
  • Total Assets 155.7M
  • Adj. Expense Ratio
    1.240%
  • Expense Ratio 1.330%
  • Distribution Fee Level Low
  • Share Class Type Retirement, Medium
  • Category Nontraditional Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 2,000
  • Status Open
  • TTM Yield 3.72%
  • Effective Duration —

USD | NAV as of Oct 03, 2026 | 1-Day Return as of Oct 03, 2026, 12:11 AM GMT+0

Morningstar’s Analysis ARCFX

Will ARCFX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable ARCFX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the ARCFX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of ARCFX’s parent organization’s priorities and whether they’re in line with investors’ interests.

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

Water Island Credit Opportunities R holds a quantitatively derived Neutral Morningstar Medalist Rating. The rating suggests the model does not express a clear expectation of outperformance or underperformance relative to peers over a full market cycle.

by Morningstar Automated Analysis
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings ARCFX

More ARCFX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 27.6
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

MORGAN STANLEY PRIME BROKER US

11.29 20M
Cash and Equivalents

Ssc Government Mm Gvmxx

8.47 15M
Cash and Equivalents

Morgan Stanley Govt Port 8302 Morgan Stanley Govt Port 8302

8.47 15M
Cash and Equivalents

TXNM Energy Inc. 5.75%

4.41 8M
Corporate

Atkore Inc 4.25%

4.33 8M
Corporate

NCR Atleos Corp. 9.5%

3.87 7M
Corporate

EchoStar Corp. 6.75%

3.58 6M
Corporate

Carvana Co 9%

3.07 6M
Corporate

Organon & Co 4.125%

3.02 5M
Corporate

Rapid7 Inc. 0.25%

2.98 5M
Corporate

Sponsor Center