{
  "page": "compare",
  "query": {
    "a": "AGEAX",
    "b": "ARCFX"
  },
  "retrieved_at": "2026-07-07T15:42:53+00:00",
  "disclaimer": "Informational only — not investment advice. FundWatcher presents publicly available data and makes no recommendation to buy or sell any security. Verify all figures against the source filing before relying on them.",
  "attribution": "Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC.",
  "terms": {
    "notice": "Use of this data is subject to the FundWatcher Terms of Service. Information may be used only for personal, non-commercial research and may not be redistributed.",
    "url": "https://fundwatcher.app/terms/"
  },
  "fund_a": {
    "name": "Water Island Event-Driven Fund",
    "ticker": "AGEAX",
    "slug": "AGEAX",
    "series_id": "S000030113",
    "html_url": "https://fundwatcher.app/funds/AGEAX/"
  },
  "fund_b": {
    "name": "WATER ISLAND CREDIT OPPORTUNITIES FUND",
    "ticker": "ARCFX",
    "slug": "ARCFX",
    "series_id": "S000039281",
    "html_url": "https://fundwatcher.app/funds/ARCFX/"
  },
  "overlap": {
    "coverage_a_by_b": "0.2037890845390171145198757546",
    "coverage_b_by_a": "0.2037890845390171145198757547",
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      "b": "2026-02-28"
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        "name": "PENUMBRA INC",
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      {
        "name": "Bayer Aktiengesellschaft",
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      {
        "name": "LYV 6.5 05/15/27 144A",
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      {
        "name": "CONFLUENT INC ZERO COUPON 01/15/2027",
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      {
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      {
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      {
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      {
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      {
        "name": "HALOZYME THERAPEUTICS INC CONV 0.25% 03/01/2027",
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      {
        "name": "Dynavax Technologies Corp.",
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      {
        "name": "EMRLD Borrower LP Term Loan B",
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        "name": "VRNS 1 09/15/29",
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      {
        "name": "Itron, Inc.",
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        "name": "Rapid7, Inc.",
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        "name": "US STEEL CORP",
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      {
        "name": "Rand Parent LLC, Term Loan B",
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      {
        "name": "SURGERY CENTER HOLDINGS REGD 144A P/P 7.25000000",
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      {
        "name": "GTLS 9.5 01/01/31 144A",
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      {
        "name": "RPD 1.25 03/15/29",
        "value": "1808906.25",
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      {
        "name": "Gladstone Capital Corp",
        "value": "1337094.40",
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      },
      {
        "name": "KENNEDY-WILSON INC SR UNSEC 4.75% 02-01-30",
        "value": "1183296.30",
        "weight": "0.00728862",
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      },
      {
        "name": "SWAP MORGAN STANLEY COC",
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      {
        "name": "CLEAR CHANNEL OUTDOOR HO REGD 144A P/P 7.75000000",
        "value": "1007936.00",
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      },
      {
        "name": "PUT SPDR S&P 500 ETF 01/16/2026 P643",
        "value": "18200.00",
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    ]
  },
  "error": null,
  "sources": [
    {
      "label": "N-PORT (fund A)",
      "accession_no": "0001410368-26-040979",
      "as_of": "2026-02-28",
      "edgar_url": "https://www.sec.gov/Archives/edgar/data/1105076/000141036826040979/0001410368-26-040979-index.htm"
    },
    {
      "label": "N-PORT (fund B)",
      "accession_no": "0001410368-26-040980",
      "as_of": "2026-02-28",
      "edgar_url": "https://www.sec.gov/Archives/edgar/data/1105076/000141036826040980/0001410368-26-040980-index.htm"
    }
  ]
}