Form N-CSR Cover
Form N-CSR Cover | 12 Months Ended |
May 31, 2024 | |
Shareholder Report [Line Items] | |
Document Type | N-CSR |
Amendment Flag | false |
Registrant Name | THE ARBITRAGE FUNDS |
Entity Central Index Key | 0001105076 |
Entity Investment Company Type | N-1A |
Document Period End Date | May 31, 2024 |
Shareholder Report
Shareholder Report | 12 Months Ended |
May 31, 2024 USD ($) Holding | |
Shareholder Report [Line Items] | |
Document Type | N-CSR |
Amendment Flag | false |
Registrant Name | THE ARBITRAGE FUNDS |
Entity Central Index Key | 0001105076 |
Entity Investment Company Type | N-1A |
Document Period End Date | May 31, 2024 |
C000092484 | |
Shareholder Report [Line Items] | |
Fund Name | Water Island Event-Driven Fund |
Class Name | Class R |
Trading Symbol | AEDFX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about Water Island Event-Driven Fund for the period of June 1, 2023 to May 31, 2024. |
Shareholder Report Annual or Semi-Annual | Annual Shareholder Report |
Additional Information [Text Block] | You can find additional information about the Fund at www.arbitragefunds.com/water-island-event-driven |
Additional Information Phone Number | 1-800-295-4485 |
Additional Information Website | www.arbitragefunds.com/water-island-event-driven</span>" id="sjs-B19"><span style="box-sizing: border-box; color: rgb(41, 59, 67); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 20px; margin: 0px; overflow: visible; text-align: left; height: auto; max-height: none; min-height: 0px;">www.arbitragefunds.com/water-island-event-driven</span> |
Expenses [Text Block] | What were the Fund costs for the last year? Annual Fund Operating Expenses (based on a hypothetical $10,000 investment) Class Name Cost of a $10,000 investment Costs paid as a percentage of a $10,000 investment Class R $178 1.72% |
Expenses Paid, Amount | $ 178 |
Expense Ratio, Percent | 1.72% |
Factors Affecting Performance [Text Block] | How did the Fund perform last year and what affected its performance? The Funds performance for the fiscal year was driven by the outcomes of the idiosyncratic corporate catalysts in which the Fund invested. Returns were sourced predominantly from the Funds merger arbitrage sleeve, which notably included several high-profile deals that experienced favorable outcomes despite regulatory challenges. Most of the Funds performance was generated by investments in US-based catalysts. Information technology and health care were the top performing sectors, while consumer discretionary and materials detracted the most from returns. Top contributors included the acquisition of VMware by Broadcom, Microsofts acquisition of Activision Blizzard, and the acquisition of Horizon Therapeutics by Amgen. Top detractors included the merger of Capri Holdings and Tapestry, the acquisition of United States Steel by Nippon Steel, and the failed acquisition of PNM Resources by Avangrid. |
Line Graph [Table Text Block] | Class R $11,893 S&P 500 ® ICE BofA U.S. 3-Month Treasury Bill Index $11,572 Bloomberg U.S. Aggregate Bond Index $11,329 5/31/2014 $10,000 $10,000 $10,000 $10,000 6/30/2014 $10,107 $10,207 $10,000 $10,005 7/31/2014 $10,000 $10,066 $10,001 $9,980 8/31/2014 $10,029 $10,469 $10,001 $10,090 9/30/2014 $9,883 $10,322 $10,001 $10,022 10/31/2014 $9,757 $10,574 $10,002 $10,120 11/30/2014 $9,738 $10,858 $10,002 $10,192 12/31/2014 $9,668 $10,831 $10,002 $10,202 1/31/2015 $9,678 $10,506 $10,002 $10,415 2/28/2015 $9,748 $11,109 $10,002 $10,318 3/31/2015 $9,688 $10,934 $10,002 $10,365 4/30/2015 $9,748 $11,039 $10,002 $10,328 5/31/2015 $9,688 $11,181 $10,002 $10,303 6/30/2015 $9,469 $10,964 $10,003 $10,191 7/31/2015 $9,360 $11,194 $10,002 $10,262 8/31/2015 $9,250 $10,519 $10,004 $10,247 9/30/2015 $8,912 $10,258 $10,004 $10,316 10/31/2015 $8,962 $11,124 $10,003 $10,318 11/30/2015 $8,872 $11,157 $10,004 $10,291 12/31/2015 $8,865 $10,981 $10,007 $10,258 1/31/2016 $8,876 $10,436 $10,007 $10,399 2/29/2016 $8,967 $10,422 $10,010 $10,473 3/31/2016 $9,059 $11,129 $10,015 $10,569 4/30/2016 $9,079 $11,172 $10,017 $10,609 5/31/2016 $9,151 $11,372 $10,018 $10,612 6/30/2016 $9,140 $11,402 $10,022 $10,803 7/31/2016 $9,202 $11,822 $10,025 $10,871 8/31/2016 $9,242 $11,839 $10,026 $10,859 9/30/2016 $9,293 $11,841 $10,031 $10,852 10/31/2016 $9,171 $11,625 $10,034 $10,769 11/30/2016 $9,263 $12,056 $10,036 $10,514 12/31/2016 $9,314 $12,294 $10,040 $10,529 1/31/2017 $9,324 $12,527 $10,044 $10,550 2/28/2017 $9,365 $13,025 $10,048 $10,621 3/31/2017 $9,395 $13,040 $10,050 $10,615 4/30/2017 $9,446 $13,174 $10,057 $10,697 5/31/2017 $9,517 $13,359 $10,062 $10,779 6/30/2017 $9,548 $13,442 $10,070 $10,769 7/31/2017 $9,528 $13,719 $10,079 $10,815 8/31/2017 $9,579 $13,761 $10,088 $10,912 9/30/2017 $9,599 $14,045 $10,097 $10,860 10/31/2017 $9,650 $14,372 $10,106 $10,866 11/30/2017 $9,528 $14,813 $10,115 $10,852 12/31/2017 $9,656 $14,978 $10,125 $10,902 1/31/2018 $9,738 $15,836 $10,138 $10,777 2/28/2018 $9,789 $15,252 $10,147 $10,674 3/31/2018 $9,656 $14,864 $10,161 $10,743 4/30/2018 $9,585 $14,921 $10,175 $10,663 5/31/2018 $9,666 $15,281 $10,191 $10,739 6/30/2018 $9,717 $15,375 $10,207 $10,726 7/31/2018 $9,646 $15,947 $10,224 $10,728 8/31/2018 $9,676 $16,466 $10,242 $10,797 9/30/2018 $9,697 $16,560 $10,257 $10,728 10/31/2018 $9,574 $15,428 $10,276 $10,643 11/30/2018 $9,676 $15,743 $10,297 $10,707 12/31/2018 $9,624 $14,321 $10,316 $10,903 1/31/2019 $9,748 $15,469 $10,336 $11,019 2/28/2019 $9,769 $15,966 $10,354 $11,013 3/31/2019 $9,790 $16,276 $10,377 $11,224 4/30/2019 $9,966 $16,935 $10,397 $11,227 5/31/2019 $9,821 $15,859 $10,421 $11,426 6/30/2019 $9,831 $16,976 $10,443 $11,570 7/31/2019 $9,904 $17,220 $10,463 $11,595 8/31/2019 $9,893 $16,948 $10,484 $11,896 9/30/2019 $9,872 $17,265 $10,503 $11,833 10/31/2019 $9,914 $17,639 $10,523 $11,868 11/30/2019 $9,976 $18,279 $10,536 $11,862 12/31/2019 $10,058 $18,831 $10,551 $11,854 1/31/2020 $10,089 $18,823 $10,565 $12,082 2/29/2020 $10,037 $17,274 $10,581 $12,299 3/31/2020 $9,767 $15,140 $10,611 $12,227 4/30/2020 $10,276 $17,081 $10,612 $12,444 5/31/2020 $10,360 $17,895 $10,612 $12,502 6/30/2020 $10,391 $18,250 $10,614 $12,581 7/31/2020 $10,463 $19,279 $10,616 $12,769 8/31/2020 $10,619 $20,665 $10,617 $12,666 9/30/2020 $10,692 $19,880 $10,618 $12,659 10/31/2020 $10,744 $19,351 $10,619 $12,602 11/30/2020 $11,014 $21,470 $10,620 $12,726 12/31/2020 $11,367 $22,295 $10,621 $12,744 1/31/2021 $11,513 $22,070 $10,622 $12,652 2/28/2021 $11,586 $22,679 $10,623 $12,470 3/31/2021 $11,638 $23,672 $10,624 $12,314 4/30/2021 $11,752 $24,935 $10,624 $12,411 5/31/2021 $11,825 $25,109 $10,624 $12,452 6/30/2021 $11,710 $25,696 $10,624 $12,539 7/31/2021 $11,388 $26,306 $10,624 $12,679 8/31/2021 $11,471 $27,106 $10,625 $12,655 9/30/2021 $11,523 $25,845 $10,625 $12,546 10/31/2021 $11,586 $27,656 $10,625 $12,542 11/30/2021 $11,347 $27,464 $10,626 $12,579 12/31/2021 $11,471 $28,695 $10,627 $12,547 1/31/2022 $11,347 $27,210 $10,626 $12,277 2/28/2022 $11,367 $26,395 $10,627 $12,140 3/31/2022 $11,451 $27,375 $10,631 $11,803 4/30/2022 $11,357 $24,988 $10,632 $11,355 5/31/2022 $11,264 $25,034 $10,639 $11,428 6/30/2022 $11,056 $22,968 $10,642 $11,249 7/31/2022 $11,253 $25,085 $10,647 $11,523 8/31/2022 $11,295 $24,062 $10,664 $11,198 9/30/2022 $11,222 $21,846 $10,691 $10,714 10/31/2022 $11,430 $23,615 $10,708 $10,575 11/30/2022 $11,336 $24,935 $10,742 $10,964 12/31/2022 $11,378 $23,498 $10,781 $10,915 1/31/2023 $11,399 $24,975 $10,815 $11,251 2/28/2023 $11,388 $24,365 $10,850 $10,960 3/31/2023 $11,419 $25,260 $10,897 $11,238 4/30/2023 $11,430 $25,654 $10,931 $11,306 5/31/2023 $11,139 $25,766 $10,974 $11,183 6/30/2023 $11,316 $27,468 $11,024 $11,143 7/31/2023 $11,503 $28,350 $11,068 $11,135 8/31/2023 $11,627 $27,899 $11,118 $11,064 9/30/2023 $11,658 $26,569 $11,169 $10,783 10/31/2023 $11,575 $26,010 $11,219 $10,613 11/30/2023 $11,866 $28,386 $11,269 $11,094 12/31/2023 $12,018 $29,675 $11,322 $11,518 1/31/2024 $11,935 $30,174 $11,370 $11,487 2/29/2024 $11,935 $31,785 $11,417 $11,324 3/31/2024 $12,018 $32,808 $11,468 $11,429 4/30/2024 $11,851 $31,468 $11,517 $11,140 5/31/2024 $11,893 $33,028 $11,572 $11,329 |
Average Annual Return [Table Text Block] | 1 Year 5 Years 10 Years Class R 6.77% 3.90% 1.75% S&P 500 ® 28.19% 15.80% 12.69% ICE BofA U.S. 3-Month Treasury Bill Index 5.45% 2.12% 1.47% Bloomberg U.S. Aggregate Bond Index 1.31% -0.17% 1.26% |
AssetsNet | $ 80,324,009 |
Holdings Count | Holding | 125 |
Advisory Fees Paid, Amount | $ 1,181,245 |
InvestmentCompanyPortfolioTurnover | 305% |
Additional Fund Statistics [Text Block] | Key Fund Statistics Total Net Assets $80,324,009 Number of Portfolio Holdings 125 Total Advisory Fees Paid $1,181,245 Portfolio Turnover Rate 305% |
Holdings [Text Block] | Sector Weighting (%) Value Value Consumer, Non-cyclical 34.50% Technology 16.88% Energy 16.28% Consumer, Cyclical 10.24% Telecommunication Services 10.17% Financials 6.33% Materials 3.18% Utilities 1.22% Industrials 1.20% |
Material Fund Change [Text Block] | Material Fund Changes There were no material changes to the Fund since May 31, 2023. |
C000127229 | |
Shareholder Report [Line Items] | |
Fund Name | Water Island Event-Driven Fund |
Class Name | Class A |
Trading Symbol | AGEAX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about Water Island Event-Driven Fund for the period of June 1, 2023 to May 31, 2024. |
Shareholder Report Annual or Semi-Annual | Annual Shareholder Report |
Additional Information [Text Block] | You can find additional information about the Fund at www.arbitragefunds.com/water-island-event-driven |
Additional Information Phone Number | 1-800-295-4485 |
Additional Information Website | www.arbitragefunds.com/water-island-event-driven</span>" id="sjs-B42"><span style="box-sizing: border-box; color: rgb(41, 59, 67); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 20px; margin: 0px; overflow: visible; text-align: left; height: auto; max-height: none; min-height: 0px;">www.arbitragefunds.com/water-island-event-driven</span> |
Expenses [Text Block] | What were the Fund costs for the last year? Annual Fund Operating Expenses (based on a hypothetical $10,000 investment) Class Name Cost of a $10,000 investment Costs paid as a percentage of a $10,000 investment Class A $178 1.72% |
Expenses Paid, Amount | $ 178 |
Expense Ratio, Percent | 1.72% |
Factors Affecting Performance [Text Block] | How did the Fund perform last year and what affected its performance? The Funds performance for the fiscal year was driven by the outcomes of the idiosyncratic corporate catalysts in which the Fund invested. Returns were sourced predominantly from the Funds merger arbitrage sleeve, which notably included several high-profile deals that experienced favorable outcomes despite regulatory challenges. Most of the Funds performance was generated by investments in US-based catalysts. Information technology and health care were the top performing sectors, while consumer discretionary and materials detracted the most from returns. Top contributors included the acquisition of VMware by Broadcom, Microsofts acquisition of Activision Blizzard, and the acquisition of Horizon Therapeutics by Amgen. Top detractors included the merger of Capri Holdings and Tapestry, the acquisition of United States Steel by Nippon Steel, and the failed acquisition of PNM Resources by Avangrid. |
Line Graph [Table Text Block] | Class A $11,497 S&P 500 ® ICE BofA U.S. 3-Month Treasury Bill Index $11,572 Bloomberg U.S. Aggregate Bond Index $11,329 5/31/2014 $9,671 $10,000 $10,000 $10,000 6/30/2014 $9,775 $10,207 $10,000 $10,005 7/31/2014 $9,662 $10,066 $10,001 $9,980 8/31/2014 $9,690 $10,469 $10,001 $10,090 9/30/2014 $9,549 $10,322 $10,001 $10,022 10/31/2014 $9,437 $10,574 $10,002 $10,120 11/30/2014 $9,418 $10,858 $10,002 $10,192 12/31/2014 $9,341 $10,831 $10,002 $10,202 1/31/2015 $9,350 $10,506 $10,002 $10,415 2/28/2015 $9,427 $11,109 $10,002 $10,318 3/31/2015 $9,360 $10,934 $10,002 $10,365 4/30/2015 $9,418 $11,039 $10,002 $10,328 5/31/2015 $9,360 $11,181 $10,002 $10,303 6/30/2015 $9,148 $10,964 $10,003 $10,191 7/31/2015 $9,052 $11,194 $10,002 $10,262 8/31/2015 $8,946 $10,519 $10,004 $10,247 9/30/2015 $8,610 $10,258 $10,004 $10,316 10/31/2015 $8,658 $11,124 $10,003 $10,318 11/30/2015 $8,571 $11,157 $10,004 $10,291 12/31/2015 $8,566 $10,981 $10,007 $10,258 1/31/2016 $8,576 $10,436 $10,007 $10,399 2/29/2016 $8,665 $10,422 $10,010 $10,473 3/31/2016 $8,753 $11,129 $10,015 $10,569 4/30/2016 $8,773 $11,172 $10,017 $10,609 5/31/2016 $8,842 $11,372 $10,018 $10,612 6/30/2016 $8,832 $11,402 $10,022 $10,803 7/31/2016 $8,891 $11,822 $10,025 $10,871 8/31/2016 $8,930 $11,839 $10,026 $10,859 9/30/2016 $8,980 $11,841 $10,031 $10,852 10/31/2016 $8,862 $11,625 $10,034 $10,769 11/30/2016 $8,950 $12,056 $10,036 $10,514 12/31/2016 $9,009 $12,294 $10,040 $10,529 1/31/2017 $9,019 $12,527 $10,044 $10,550 2/28/2017 $9,058 $13,025 $10,048 $10,621 3/31/2017 $9,078 $13,040 $10,050 $10,615 4/30/2017 $9,127 $13,174 $10,057 $10,697 5/31/2017 $9,206 $13,359 $10,062 $10,779 6/30/2017 $9,236 $13,442 $10,070 $10,769 7/31/2017 $9,216 $13,719 $10,079 $10,815 8/31/2017 $9,265 $13,761 $10,088 $10,912 9/30/2017 $9,285 $14,045 $10,097 $10,860 10/31/2017 $9,334 $14,372 $10,106 $10,866 11/30/2017 $9,216 $14,813 $10,115 $10,852 12/31/2017 $9,333 $14,978 $10,125 $10,902 1/31/2018 $9,422 $15,836 $10,138 $10,777 2/28/2018 $9,462 $15,252 $10,147 $10,674 3/31/2018 $9,333 $14,864 $10,161 $10,743 4/30/2018 $9,274 $14,921 $10,175 $10,663 5/31/2018 $9,343 $15,281 $10,191 $10,739 6/30/2018 $9,402 $15,375 $10,207 $10,726 7/31/2018 $9,333 $15,947 $10,224 $10,728 8/31/2018 $9,353 $16,466 $10,242 $10,797 9/30/2018 $9,373 $16,560 $10,257 $10,728 10/31/2018 $9,264 $15,428 $10,276 $10,643 11/30/2018 $9,353 $15,743 $10,297 $10,707 12/31/2018 $9,308 $14,321 $10,316 $10,903 1/31/2019 $9,428 $15,469 $10,336 $11,019 2/28/2019 $9,449 $15,966 $10,354 $11,013 3/31/2019 $9,469 $16,276 $10,377 $11,224 4/30/2019 $9,629 $16,935 $10,397 $11,227 5/31/2019 $9,489 $15,859 $10,421 $11,426 6/30/2019 $9,499 $16,976 $10,443 $11,570 7/31/2019 $9,569 $17,220 $10,463 $11,595 8/31/2019 $9,569 $16,948 $10,484 $11,896 9/30/2019 $9,549 $17,265 $10,503 $11,833 10/31/2019 $9,589 $17,639 $10,523 $11,868 11/30/2019 $9,639 $18,279 $10,536 $11,862 12/31/2019 $9,720 $18,831 $10,551 $11,854 1/31/2020 $9,750 $18,823 $10,565 $12,082 2/29/2020 $9,700 $17,274 $10,581 $12,299 3/31/2020 $9,439 $15,140 $10,611 $12,227 4/30/2020 $9,941 $17,081 $10,612 $12,444 5/31/2020 $10,022 $17,895 $10,612 $12,502 6/30/2020 $10,042 $18,250 $10,614 $12,581 7/31/2020 $10,122 $19,279 $10,616 $12,769 8/31/2020 $10,273 $20,665 $10,617 $12,666 9/30/2020 $10,343 $19,880 $10,618 $12,659 10/31/2020 $10,394 $19,351 $10,619 $12,602 11/30/2020 $10,655 $21,470 $10,620 $12,726 12/31/2020 $10,992 $22,295 $10,621 $12,744 1/31/2021 $11,132 $22,070 $10,622 $12,652 2/28/2021 $11,203 $22,679 $10,623 $12,470 3/31/2021 $11,253 $23,672 $10,624 $12,314 4/30/2021 $11,374 $24,935 $10,624 $12,411 5/31/2021 $11,444 $25,109 $10,624 $12,452 6/30/2021 $11,334 $25,696 $10,624 $12,539 7/31/2021 $11,012 $26,306 $10,624 $12,679 8/31/2021 $11,092 $27,106 $10,625 $12,655 9/30/2021 $11,153 $25,845 $10,625 $12,546 10/31/2021 $11,213 $27,656 $10,625 $12,542 11/30/2021 $10,971 $27,464 $10,626 $12,579 12/31/2021 $11,102 $28,695 $10,627 $12,547 1/31/2022 $10,971 $27,210 $10,626 $12,277 2/28/2022 $10,992 $26,395 $10,627 $12,140 3/31/2022 $11,082 $27,375 $10,631 $11,803 4/30/2022 $10,992 $24,988 $10,632 $11,355 5/31/2022 $10,901 $25,034 $10,639 $11,428 6/30/2022 $10,690 $22,968 $10,642 $11,249 7/31/2022 $10,871 $25,085 $10,647 $11,523 8/31/2022 $10,921 $24,062 $10,664 $11,198 9/30/2022 $10,851 $21,846 $10,691 $10,714 10/31/2022 $11,052 $23,615 $10,708 $10,575 11/30/2022 $10,951 $24,935 $10,742 $10,964 12/31/2022 $11,002 $23,498 $10,781 $10,915 1/31/2023 $11,022 $24,975 $10,815 $11,251 2/28/2023 $11,012 $24,365 $10,850 $10,960 3/31/2023 $11,042 $25,260 $10,897 $11,238 4/30/2023 $11,052 $25,654 $10,931 $11,306 5/31/2023 $10,770 $25,766 $10,974 $11,183 6/30/2023 $10,941 $27,468 $11,024 $11,143 7/31/2023 $11,112 $28,350 $11,068 $11,135 8/31/2023 $11,233 $27,899 $11,118 $11,064 9/30/2023 $11,273 $26,569 $11,169 $10,783 10/31/2023 $11,183 $26,010 $11,219 $10,613 11/30/2023 $11,475 $28,386 $11,269 $11,094 12/31/2023 $11,618 $29,675 $11,322 $11,518 1/31/2024 $11,537 $30,174 $11,370 $11,487 2/29/2024 $11,537 $31,785 $11,417 $11,324 3/31/2024 $11,618 $32,808 $11,468 $11,429 4/30/2024 $11,456 $31,468 $11,517 $11,140 5/31/2024 $11,497 $33,028 $11,572 $11,329 |
Average Annual Return [Table Text Block] | 1 Year 5 Years 10 Years Class A 6.75% 3.91% 1.74% Class A (After Sales Charges) 3.27% 3.23% 1.40% S&P 500 ® 28.19% 15.80% 12.69% ICE BofA U.S. 3-Month Treasury Bill Index 5.45% 2.12% 1.47% Bloomberg U.S. Aggregate Bond Index 1.31% -0.17% 1.26% |
AssetsNet | $ 80,324,009 |
Holdings Count | Holding | 125 |
Advisory Fees Paid, Amount | $ 1,181,245 |
InvestmentCompanyPortfolioTurnover | 305% |
Additional Fund Statistics [Text Block] | Key Fund Statistics Total Net Assets $80,324,009 Number of Portfolio Holdings 125 Total Advisory Fees Paid $1,181,245 Portfolio Turnover Rate 305% |
Holdings [Text Block] | Sector Weighting (%) Value Value Consumer, Non-cyclical 34.50% Technology 16.88% Energy 16.28% Consumer, Cyclical 10.24% Telecommunication Services 10.17% Financials 6.33% Materials 3.18% Utilities 1.22% Industrials 1.20% |
Material Fund Change [Text Block] | Material Fund Changes There were no material changes to the Fund since May 31, 2023. |
C000120978 | |
Shareholder Report [Line Items] | |
Fund Name | Water Island Credit Opportunities Fund |
Class Name | Class I |
Trading Symbol | ACFIX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about Water Island Credit Opportunities Fund for the period of June 1, 2023 to May 31, 2024. |
Shareholder Report Annual or Semi-Annual | Annual Shareholder Report |
Additional Information [Text Block] | You can find additional information about the Fund at www.arbitragefunds.com/water-island-credit-opportunities |
Additional Information Phone Number | 1-800-295-4485 |
Additional Information Website | www.arbitragefunds.com/water-island-credit-opportunities</span>" id="sjs-B65"><span style="box-sizing: border-box; color: rgb(41, 59, 67); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 20px; margin: 0px; overflow: visible; text-align: left; height: auto; max-height: none; min-height: 0px;">www.arbitragefunds.com/water-island-credit-opportunities</span> |
Expenses [Text Block] | What were the Fund costs for the last year? Annual Fund Operating Expenses (based on a hypothetical $10,000 investment) Class Name Cost of a $10,000 investment Costs paid as a percentage of a $10,000 investment Class I $107 1.04% |
Expenses Paid, Amount | $ 107 |
Expense Ratio, Percent | 1.04% |
Factors Affecting Performance [Text Block] | How did the Fund perform last year and what affected its performance? The Funds performance for the fiscal year was driven by the outcomes of the idiosyncratic corporate catalysts in which the Fund invested. Performance was sourced largely from credit special situations investments, though merger-related credit also contributed to returns. Most of the Funds performance was generated by investments in US-based catalysts. Information technology and health care were the top performing sectors, while utilities and real estate detracted the most from returns. Top contributors included the Funds investments in UpHealth bonds, Getty Images bonds, and Kaleyra bonds. Top detractors included the Funds investments in Lightning eMotors bonds, broad credit market hedges, and Altice France bonds. |
Average Annual Return [Table Text Block] | 1 Year 5 Years 10 Years Class I 6.23% 3.72% 2.81% Bloomberg U.S. Aggregate Bond Index 1.31% - 1.26% ICE BofA U.S. 3-Month Treasury Bill Index 5.45% 2.12% 1.47% |
AssetsNet | $ 143,238,533 |
Holdings Count | Holding | 103 |
Advisory Fees Paid, Amount | $ 768,351 |
InvestmentCompanyPortfolioTurnover | 117% |
Additional Fund Statistics [Text Block] | Key Fund Statistics Total Net Assets $143,238,533 Number of Portfolio Holdings 103 Total Advisory Fees Paid $768,351 Portfolio Turnover Rate 117% |
Holdings [Text Block] | Sector Weighting (%) Value Value Technology 27.83% Consumer, Cyclical 19.03% Telecommunication Services 18.41% Consumer, Non-cyclical 16.06% Energy 6.80% Industrials 5.91% Financials 2.36% Utilities 1.85% Materials 1.75% |
Material Fund Change [Text Block] | Material Fund Changes There were no material changes to the Fund since May 31, 2023. |
C000115401 | |
Shareholder Report [Line Items] | |
Fund Name | Arbitrage Fund |
Class Name | Class C |
Trading Symbol | ARBCX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about Arbitrage Fund for the period of June 1, 2023 to May 31, 2024. |
Shareholder Report Annual or Semi-Annual | Annual Shareholder Report |
Additional Information [Text Block] | You can find additional information about the Fund at www.arbitragefunds.com/arbitrage |
Additional Information Phone Number | 1-800-295-4485 |
Additional Information Website | www.arbitragefunds.com/arbitrage</span>" id="sjs-B87"><span style="box-sizing: border-box; color: rgb(41, 59, 67); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 20px; margin: 0px; overflow: visible; text-align: left; height: auto; max-height: none; min-height: 0px;">www.arbitragefunds.com/arbitrage</span> |
Expenses [Text Block] | What were the Fund costs for the last year? Annual Fund Operating Expenses (based on a hypothetical $10,000 investment) Class Name Cost of a $10,000 investment Costs paid as a percentage of a $10,000 investment Class C $239 2.31% |
Expenses Paid, Amount | $ 239 |
Expense Ratio, Percent | 2.31% |
Factors Affecting Performance [Text Block] | How did the Fund perform last year and what affected its performance? The Funds performance for the fiscal year was driven by the outcomes of the idiosyncratic mergers and acquisitions transactions in which the Fund invested, notably including several high-profile deals that experienced favorable outcomes despite regulatory challenges. Returns were sourced predominantly from US-target transactions. Information technology and health care were the top performing sectors, while consumer discretionary and materials detracted the most from returns. Top contributors included the acquisition of VMware by Broadcom, Microsofts acquisition of Activision Blizzard, and the acquisition of Horizon Therapeutics by Amgen. Top detractors included the merger of Capri Holdings and Tapestry, the acquisition of United States Steel by Nippon Steel, and the failed acquisition of PNM Resources by Avangrid. |
Line Graph [Table Text Block] | Class C $11,796 S&P 500 ® ICE BofA U.S. 3-Month Treasury Bill Index $11,572 Bloomberg U.S. Aggregate Bond Index $11,329 5/31/2014 $10,000 $10,000 $10,000 $10,000 6/30/2014 $10,081 $10,207 $10,000 $10,005 7/31/2014 $10,073 $10,066 $10,001 $9,980 8/31/2014 $10,081 $10,469 $10,001 $10,090 9/30/2014 $10,032 $10,322 $10,001 $10,022 10/31/2014 $9,960 $10,574 $10,002 $10,120 11/30/2014 $10,024 $10,858 $10,002 $10,192 12/31/2014 $10,106 $10,831 $10,002 $10,202 1/31/2015 $10,130 $10,506 $10,002 $10,415 2/28/2015 $10,154 $11,109 $10,002 $10,318 3/31/2015 $10,195 $10,934 $10,002 $10,365 4/30/2015 $10,235 $11,039 $10,002 $10,328 5/31/2015 $10,252 $11,181 $10,002 $10,303 6/30/2015 $10,114 $10,964 $10,003 $10,191 7/31/2015 $10,098 $11,194 $10,002 $10,262 8/31/2015 $10,065 $10,519 $10,004 $10,247 9/30/2015 $9,944 $10,258 $10,004 $10,316 10/31/2015 $10,033 $11,124 $10,003 $10,318 11/30/2015 $10,049 $11,157 $10,004 $10,291 12/31/2015 $10,095 $10,981 $10,007 $10,258 1/31/2016 $10,145 $10,436 $10,007 $10,399 2/29/2016 $10,187 $10,422 $10,010 $10,473 3/31/2016 $10,236 $11,129 $10,015 $10,569 4/30/2016 $10,212 $11,172 $10,017 $10,609 5/31/2016 $10,270 $11,372 $10,018 $10,612 6/30/2016 $10,261 $11,402 $10,022 $10,803 7/31/2016 $10,261 $11,822 $10,025 $10,871 8/31/2016 $10,270 $11,839 $10,026 $10,859 9/30/2016 $10,311 $11,841 $10,031 $10,852 10/31/2016 $10,220 $11,625 $10,034 $10,769 11/30/2016 $10,311 $12,056 $10,036 $10,514 12/31/2016 $10,355 $12,294 $10,040 $10,529 1/31/2017 $10,363 $12,527 $10,044 $10,550 2/28/2017 $10,397 $13,025 $10,048 $10,621 3/31/2017 $10,439 $13,040 $10,050 $10,615 4/30/2017 $10,473 $13,174 $10,057 $10,697 5/31/2017 $10,514 $13,359 $10,062 $10,779 6/30/2017 $10,548 $13,442 $10,070 $10,769 7/31/2017 $10,540 $13,719 $10,079 $10,815 8/31/2017 $10,556 $13,761 $10,088 $10,912 9/30/2017 $10,556 $14,045 $10,097 $10,860 10/31/2017 $10,598 $14,372 $10,106 $10,866 11/30/2017 $10,481 $14,813 $10,115 $10,852 12/31/2017 $10,545 $14,978 $10,125 $10,902 1/31/2018 $10,571 $15,836 $10,138 $10,777 2/28/2018 $10,648 $15,252 $10,147 $10,674 3/31/2018 $10,519 $14,864 $10,161 $10,743 4/30/2018 $10,407 $14,921 $10,175 $10,663 5/31/2018 $10,467 $15,281 $10,191 $10,739 6/30/2018 $10,493 $15,375 $10,207 $10,726 7/31/2018 $10,458 $15,947 $10,224 $10,728 8/31/2018 $10,467 $16,466 $10,242 $10,797 9/30/2018 $10,519 $16,560 $10,257 $10,728 10/31/2018 $10,528 $15,428 $10,276 $10,643 11/30/2018 $10,631 $15,743 $10,297 $10,707 12/31/2018 $10,688 $14,321 $10,316 $10,903 1/31/2019 $10,723 $15,469 $10,336 $11,019 2/28/2019 $10,740 $15,966 $10,354 $11,013 3/31/2019 $10,758 $16,276 $10,377 $11,224 4/30/2019 $10,854 $16,935 $10,397 $11,227 5/31/2019 $10,793 $15,859 $10,421 $11,426 6/30/2019 $10,784 $16,976 $10,443 $11,570 7/31/2019 $10,854 $17,220 $10,463 $11,595 8/31/2019 $10,863 $16,948 $10,484 $11,896 9/30/2019 $10,863 $17,265 $10,503 $11,833 10/31/2019 $10,907 $17,639 $10,523 $11,868 11/30/2019 $10,950 $18,279 $10,536 $11,862 12/31/2019 $10,981 $18,831 $10,551 $11,854 1/31/2020 $11,016 $18,823 $10,565 $12,082 2/29/2020 $10,963 $17,274 $10,581 $12,299 3/31/2020 $10,650 $15,140 $10,611 $12,227 4/30/2020 $11,016 $17,081 $10,612 $12,444 5/31/2020 $11,034 $17,895 $10,612 $12,502 6/30/2020 $11,016 $18,250 $10,614 $12,581 7/31/2020 $11,097 $19,279 $10,616 $12,769 8/31/2020 $11,150 $20,665 $10,617 $12,666 9/30/2020 $11,168 $19,880 $10,618 $12,659 10/31/2020 $11,231 $19,351 $10,619 $12,602 11/30/2020 $11,347 $21,470 $10,620 $12,726 12/31/2020 $11,493 $22,295 $10,621 $12,744 1/31/2021 $11,589 $22,070 $10,622 $12,652 2/28/2021 $11,589 $22,679 $10,623 $12,470 3/31/2021 $11,646 $23,672 $10,624 $12,314 4/30/2021 $11,742 $24,935 $10,624 $12,411 5/31/2021 $11,781 $25,109 $10,624 $12,452 6/30/2021 $11,685 $25,696 $10,624 $12,539 7/31/2021 $11,435 $26,306 $10,624 $12,679 8/31/2021 $11,493 $27,106 $10,625 $12,655 9/30/2021 $11,550 $25,845 $10,625 $12,546 10/31/2021 $11,570 $27,656 $10,625 $12,542 11/30/2021 $11,406 $27,464 $10,626 $12,579 12/31/2021 $11,501 $28,695 $10,627 $12,547 1/31/2022 $11,356 $27,210 $10,626 $12,277 2/28/2022 $11,375 $26,395 $10,627 $12,140 3/31/2022 $11,443 $27,375 $10,631 $11,803 4/30/2022 $11,356 $24,988 $10,632 $11,355 5/31/2022 $11,250 $25,034 $10,639 $11,428 6/30/2022 $11,085 $22,968 $10,642 $11,249 7/31/2022 $11,240 $25,085 $10,647 $11,523 8/31/2022 $11,288 $24,062 $10,664 $11,198 9/30/2022 $11,192 $21,846 $10,691 $10,714 10/31/2022 $11,375 $23,615 $10,708 $10,575 11/30/2022 $11,250 $24,935 $10,742 $10,964 12/31/2022 $11,304 $23,498 $10,781 $10,915 1/31/2023 $11,314 $24,975 $10,815 $11,251 2/28/2023 $11,294 $24,365 $10,850 $10,960 3/31/2023 $11,314 $25,260 $10,897 $11,238 4/30/2023 $11,314 $25,654 $10,931 $11,306 5/31/2023 $11,055 $25,766 $10,974 $11,183 6/30/2023 $11,214 $27,468 $11,024 $11,143 7/31/2023 $11,384 $28,350 $11,068 $11,135 8/31/2023 $11,493 $27,899 $11,118 $11,064 9/30/2023 $11,513 $26,569 $11,169 $10,783 10/31/2023 $11,453 $26,010 $11,219 $10,613 11/30/2023 $11,733 $28,386 $11,269 $11,094 12/31/2023 $11,877 $29,675 $11,322 $11,518 1/31/2024 $11,806 $30,174 $11,370 $11,487 2/29/2024 $11,806 $31,785 $11,417 $11,324 3/31/2024 $11,979 $32,808 $11,468 $11,429 4/30/2024 $11,745 $31,468 $11,517 $11,140 5/31/2024 $11,796 $33,028 $11,572 $11,329 |
Average Annual Return [Table Text Block] | 1 Year 5 Years 10 Years Class C 6.70% 1.79% 1.67% Class C (After Sales Charges) 5.70% 1.79% 1.67% S&P 500 ® 28.19% 15.80% 12.69% ICE BofA U.S. 3-Month Treasury Bill Index 5.45% 2.12% 1.47% Bloomberg U.S. Aggregate Bond Index 1.31% -0.17% 1.26% |
AssetsNet | $ 938,998,873 |
Holdings Count | Holding | 99 |
Advisory Fees Paid, Amount | $ 10,257,507 |
InvestmentCompanyPortfolioTurnover | 230% |
Additional Fund Statistics [Text Block] | Key Fund Statistics Total Net Assets $938,998,873 Number of Portfolio Holdings 99 Total Advisory Fees Paid $10,257,507 Portfolio Turnover Rate 230% |
Holdings [Text Block] | Sector Weighting (%) Value Value Consumer, Non-cyclical 30.10% Technology 18.83% Energy 12.91% Telecommunication Services 11.14% Funds 6.12% Financials 4.80% Materials 4.56% Consumer, Cyclical 4.18% Industrials 4.17% Utilities 3.19% |
Material Fund Change [Text Block] | Material Fund Changes There were no material changes to the Fund since May 31, 2023. |
C000017637 | |
Shareholder Report [Line Items] | |
Fund Name | Arbitrage Fund |
Class Name | Class R |
Trading Symbol | ARBFX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about Arbitrage Fund for the period of June 1, 2023 to May 31, 2024. |
Shareholder Report Annual or Semi-Annual | Annual Shareholder Report |
Additional Information [Text Block] | You can find additional information about the Fund at www.arbitragefunds.com/arbitrage |
Additional Information Phone Number | 1-800-295-4485 |
Additional Information Website | www.arbitragefunds.com/arbitrage</span>" id="sjs-B110"><span style="box-sizing: border-box; color: rgb(41, 59, 67); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 20px; margin: 0px; overflow: visible; text-align: left; height: auto; max-height: none; min-height: 0px;">www.arbitragefunds.com/arbitrage</span> |
Expenses [Text Block] | What were the Fund costs for the last year? Annual Fund Operating Expenses (based on a hypothetical $10,000 investment) Class Name Cost of a $10,000 investment Costs paid as a percentage of a $10,000 investment Class R $162 1.56% |
Expenses Paid, Amount | $ 162 |
Expense Ratio, Percent | 1.56% |
Factors Affecting Performance [Text Block] | How did the Fund perform last year and what affected its performance? The Funds performance for the fiscal year was driven by the outcomes of the idiosyncratic mergers and acquisitions transactions in which the Fund invested, notably including several high-profile deals that experienced favorable outcomes despite regulatory challenges. Returns were sourced predominantly from US-target transactions. Information technology and health care were the top performing sectors, while consumer discretionary and materials detracted the most from returns. Top contributors included the acquisition of VMware by Broadcom, Microsofts acquisition of Activision Blizzard, and the acquisition of Horizon Therapeutics by Amgen. Top detractors included the merger of Capri Holdings and Tapestry, the acquisition of United States Steel by Nippon Steel, and the failed acquisition of PNM Resources by Avangrid. |
Line Graph [Table Text Block] | Class R $12,722 S&P 500 ® ICE BofA U.S. 3-Month Treasury Bill Index $11,572 Bloomberg U.S. Aggregate Bond Index $11,329 5/31/2014 $10,000 $10,000 $10,000 $10,000 6/30/2014 $10,095 $10,207 $10,000 $10,005 7/31/2014 $10,087 $10,066 $10,001 $9,980 8/31/2014 $10,103 $10,469 $10,001 $10,090 9/30/2014 $10,064 $10,322 $10,001 $10,022 10/31/2014 $10,000 $10,574 $10,002 $10,120 11/30/2014 $10,064 $10,858 $10,002 $10,192 12/31/2014 $10,160 $10,831 $10,002 $10,202 1/31/2015 $10,183 $10,506 $10,002 $10,415 2/28/2015 $10,207 $11,109 $10,002 $10,318 3/31/2015 $10,263 $10,934 $10,002 $10,365 4/30/2015 $10,311 $11,039 $10,002 $10,328 5/31/2015 $10,335 $11,181 $10,002 $10,303 6/30/2015 $10,191 $10,964 $10,003 $10,191 7/31/2015 $10,183 $11,194 $10,002 $10,262 8/31/2015 $10,168 $10,519 $10,004 $10,247 9/30/2015 $10,048 $10,258 $10,004 $10,316 10/31/2015 $10,144 $11,124 $10,003 $10,318 11/30/2015 $10,168 $11,157 $10,004 $10,291 12/31/2015 $10,221 $10,981 $10,007 $10,258 1/31/2016 $10,278 $10,436 $10,007 $10,399 2/29/2016 $10,327 $10,422 $10,010 $10,473 3/31/2016 $10,384 $11,129 $10,015 $10,569 4/30/2016 $10,368 $11,172 $10,017 $10,609 5/31/2016 $10,425 $11,372 $10,018 $10,612 6/30/2016 $10,425 $11,402 $10,022 $10,803 7/31/2016 $10,433 $11,822 $10,025 $10,871 8/31/2016 $10,442 $11,839 $10,026 $10,859 9/30/2016 $10,499 $11,841 $10,031 $10,852 10/31/2016 $10,409 $11,625 $10,034 $10,769 11/30/2016 $10,507 $12,056 $10,036 $10,514 12/31/2016 $10,566 $12,294 $10,040 $10,529 1/31/2017 $10,575 $12,527 $10,044 $10,550 2/28/2017 $10,616 $13,025 $10,048 $10,621 3/31/2017 $10,665 $13,040 $10,050 $10,615 4/30/2017 $10,715 $13,174 $10,057 $10,697 5/31/2017 $10,756 $13,359 $10,062 $10,779 6/30/2017 $10,805 $13,442 $10,070 $10,769 7/31/2017 $10,797 $13,719 $10,079 $10,815 8/31/2017 $10,822 $13,761 $10,088 $10,912 9/30/2017 $10,830 $14,045 $10,097 $10,860 10/31/2017 $10,879 $14,372 $10,106 $10,866 11/30/2017 $10,764 $14,813 $10,115 $10,852 12/31/2017 $10,841 $14,978 $10,125 $10,902 1/31/2018 $10,875 $15,836 $10,138 $10,777 2/28/2018 $10,960 $15,252 $10,147 $10,674 3/31/2018 $10,832 $14,864 $10,161 $10,743 4/30/2018 $10,721 $14,921 $10,175 $10,663 5/31/2018 $10,789 $15,281 $10,191 $10,739 6/30/2018 $10,832 $15,375 $10,207 $10,726 7/31/2018 $10,798 $15,947 $10,224 $10,728 8/31/2018 $10,815 $16,466 $10,242 $10,797 9/30/2018 $10,875 $16,560 $10,257 $10,728 10/31/2018 $10,892 $15,428 $10,276 $10,643 11/30/2018 $11,003 $15,743 $10,297 $10,707 12/31/2018 $11,070 $14,321 $10,316 $10,903 1/31/2019 $11,113 $15,469 $10,336 $11,019 2/28/2019 $11,131 $15,966 $10,354 $11,013 3/31/2019 $11,166 $16,276 $10,377 $11,224 4/30/2019 $11,270 $16,935 $10,397 $11,227 5/31/2019 $11,209 $15,859 $10,421 $11,426 6/30/2019 $11,209 $16,976 $10,443 $11,570 7/31/2019 $11,287 $17,220 $10,463 $11,595 8/31/2019 $11,313 $16,948 $10,484 $11,896 9/30/2019 $11,313 $17,265 $10,503 $11,833 10/31/2019 $11,365 $17,639 $10,523 $11,868 11/30/2019 $11,417 $18,279 $10,536 $11,862 12/31/2019 $11,465 $18,831 $10,551 $11,854 1/31/2020 $11,500 $18,823 $10,565 $12,082 2/29/2020 $11,456 $17,274 $10,581 $12,299 3/31/2020 $11,137 $15,140 $10,611 $12,227 4/30/2020 $11,518 $17,081 $10,612 $12,444 5/31/2020 $11,553 $17,895 $10,612 $12,502 6/30/2020 $11,544 $18,250 $10,614 $12,581 7/31/2020 $11,633 $19,279 $10,616 $12,769 8/31/2020 $11,695 $20,665 $10,617 $12,666 9/30/2020 $11,722 $19,880 $10,618 $12,659 10/31/2020 $11,793 $19,351 $10,619 $12,602 11/30/2020 $11,925 $21,470 $10,620 $12,726 12/31/2020 $12,087 $22,295 $10,621 $12,744 1/31/2021 $12,201 $22,070 $10,622 $12,652 2/28/2021 $12,201 $22,679 $10,623 $12,470 3/31/2021 $12,268 $23,672 $10,624 $12,314 4/30/2021 $12,381 $24,935 $10,624 $12,411 5/31/2021 $12,429 $25,109 $10,624 $12,452 6/30/2021 $12,334 $25,696 $10,624 $12,539 7/31/2021 $12,078 $26,306 $10,624 $12,679 8/31/2021 $12,144 $27,106 $10,625 $12,655 9/30/2021 $12,211 $25,845 $10,625 $12,546 10/31/2021 $12,239 $27,656 $10,625 $12,542 11/30/2021 $12,078 $27,464 $10,626 $12,579 12/31/2021 $12,191 $28,695 $10,627 $12,547 1/31/2022 $12,048 $27,210 $10,626 $12,277 2/28/2022 $12,057 $26,395 $10,627 $12,140 3/31/2022 $12,143 $27,375 $10,631 $11,803 4/30/2022 $12,067 $24,988 $10,632 $11,355 5/31/2022 $11,952 $25,034 $10,639 $11,428 6/30/2022 $11,790 $22,968 $10,642 $11,249 7/31/2022 $11,962 $25,085 $10,647 $11,523 8/31/2022 $12,019 $24,062 $10,664 $11,198 9/30/2022 $11,924 $21,846 $10,691 $10,714 10/31/2022 $12,124 $23,615 $10,708 $10,575 11/30/2022 $12,009 $24,935 $10,742 $10,964 12/31/2022 $12,066 $23,498 $10,781 $10,915 1/31/2023 $12,086 $24,975 $10,815 $11,251 2/28/2023 $12,066 $24,365 $10,850 $10,960 3/31/2023 $12,096 $25,260 $10,897 $11,238 4/30/2023 $12,106 $25,654 $10,931 $11,306 5/31/2023 $11,829 $25,766 $10,974 $11,183 6/30/2023 $12,017 $27,468 $11,024 $11,143 7/31/2023 $12,205 $28,350 $11,068 $11,135 8/31/2023 $12,333 $27,899 $11,118 $11,064 9/30/2023 $12,363 $26,569 $11,169 $10,783 10/31/2023 $12,304 $26,010 $11,219 $10,613 11/30/2023 $12,600 $28,386 $11,269 $11,094 12/31/2023 $12,783 $29,675 $11,322 $11,518 1/31/2024 $12,712 $30,174 $11,370 $11,487 2/29/2024 $12,712 $31,785 $11,417 $11,324 3/31/2024 $12,904 $32,808 $11,468 $11,429 4/30/2024 $12,662 $31,468 $11,517 $11,140 5/31/2024 $12,722 $33,028 $11,572 $11,329 |
Average Annual Return [Table Text Block] | 1 Year 5 Years 10 Years Class R 7.55% 2.57% 2.44% S&P 500 ® 28.19% 15.80% 12.69% ICE BofA U.S. 3-Month Treasury Bill Index 5.45% 2.12% 1.47% Bloomberg U.S. Aggregate Bond Index 1.31% -0.17% 1.26% |
AssetsNet | $ 938,998,873 |
Holdings Count | Holding | 99 |
Advisory Fees Paid, Amount | $ 10,257,507 |
InvestmentCompanyPortfolioTurnover | 230% |
Additional Fund Statistics [Text Block] | Key Fund Statistics Total Net Assets $938,998,873 Number of Portfolio Holdings 99 Total Advisory Fees Paid $10,257,507 Portfolio Turnover Rate 230% |
Holdings [Text Block] | Sector Weighting (%) Value Value Consumer, Non-cyclical 30.10% Technology 18.83% Energy 12.91% Telecommunication Services 11.14% Funds 6.12% Financials 4.80% Materials 4.56% Consumer, Cyclical 4.18% Industrials 4.17% Utilities 3.19% |
Material Fund Change [Text Block] | Material Fund Changes There were no material changes to the Fund since May 31, 2023. |
C000120977 | |
Shareholder Report [Line Items] | |
Fund Name | Water Island Credit Opportunities Fund |
Class Name | Class R |
Trading Symbol | ARCFX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about Water Island Credit Opportunities Fund for the period of June 1, 2023 to May 31, 2024. |
Shareholder Report Annual or Semi-Annual | Annual Shareholder Report |
Additional Information [Text Block] | You can find additional information about the Fund at www.arbitragefunds.com/water-island-credit-opportunities |
Additional Information Phone Number | 1-800-295-4485 |
Additional Information Website | www.arbitragefunds.com/water-island-credit-opportunities</span>" id="sjs-B133"><span style="box-sizing: border-box; color: rgb(41, 59, 67); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 20px; margin: 0px; overflow: visible; text-align: left; height: auto; max-height: none; min-height: 0px;">www.arbitragefunds.com/water-island-credit-opportunities</span> |
Expenses [Text Block] | What were the Fund costs for the last year? Annual Fund Operating Expenses (based on a hypothetical $10,000 investment) Class Name Cost of a $10,000 investment Costs paid as a percentage of a $10,000 investment Class R $133 1.29% |
Expenses Paid, Amount | $ 133 |
Expense Ratio, Percent | 1.29% |
Factors Affecting Performance [Text Block] | How did the Fund perform last year and what affected its performance? The Funds performance for the fiscal year was driven by the outcomes of the idiosyncratic corporate catalysts in which the Fund invested. Performance was sourced largely from credit special situations investments, though merger-related credit also contributed to returns. Most of the Funds performance was generated by investments in US-based catalysts. Information technology and health care were the top performing sectors, while utilities and real estate detracted the most from returns. Top contributors included the Funds investments in UpHealth bonds, Getty Images bonds, and Kaleyra bonds. Top detractors included the Funds investments in Lightning eMotors bonds, broad credit market hedges, and Altice France bonds. |
Line Graph [Table Text Block] | Class R $12,866 Bloomberg U.S. Aggregate Bond Index $11,329 ICE BofA U.S. 3-Month Treasury Bill Index $11,572 5/31/2014 $10,000 $10,000 $10,000 6/30/2014 $10,025 $10,005 $10,000 7/31/2014 $10,035 $9,980 $10,001 8/31/2014 $10,055 $10,090 $10,001 9/30/2014 $10,020 $10,022 $10,001 10/31/2014 $9,990 $10,120 $10,002 11/30/2014 $10,010 $10,192 $10,002 12/31/2014 $9,914 $10,202 $10,002 1/31/2015 $9,944 $10,415 $10,002 2/28/2015 $9,964 $10,318 $10,002 3/31/2015 $9,980 $10,365 $10,002 4/30/2015 $9,980 $10,328 $10,002 5/31/2015 $9,990 $10,303 $10,002 6/30/2015 $9,973 $10,191 $10,003 7/31/2015 $9,963 $10,262 $10,002 8/31/2015 $9,892 $10,247 $10,004 9/30/2015 $9,813 $10,316 $10,004 10/31/2015 $9,853 $10,318 $10,003 11/30/2015 $9,823 $10,291 $10,004 12/31/2015 $9,789 $10,258 $10,007 1/31/2016 $9,779 $10,399 $10,007 2/29/2016 $9,871 $10,473 $10,010 3/31/2016 $9,917 $10,569 $10,015 4/30/2016 $9,906 $10,609 $10,017 5/31/2016 $9,999 $10,612 $10,018 6/30/2016 $9,998 $10,803 $10,022 7/31/2016 $10,050 $10,871 $10,025 8/31/2016 $10,123 $10,859 $10,026 9/30/2016 $10,191 $10,852 $10,031 10/31/2016 $10,139 $10,769 $10,034 11/30/2016 $10,212 $10,514 $10,036 12/31/2016 $10,252 $10,529 $10,040 1/31/2017 $10,252 $10,550 $10,044 2/28/2017 $10,262 $10,621 $10,048 3/31/2017 $10,177 $10,615 $10,050 4/30/2017 $10,232 $10,697 $10,057 5/31/2017 $10,257 $10,779 $10,062 6/30/2017 $10,336 $10,769 $10,070 7/31/2017 $10,333 $10,815 $10,079 8/31/2017 $10,325 $10,912 $10,088 9/30/2017 $10,347 $10,860 $10,097 10/31/2017 $10,406 $10,866 $10,106 11/30/2017 $10,310 $10,852 $10,115 12/31/2017 $10,370 $10,902 $10,125 1/31/2018 $10,451 $10,777 $10,138 2/28/2018 $10,510 $10,674 $10,147 3/31/2018 $10,533 $10,743 $10,161 4/30/2018 $10,552 $10,663 $10,175 5/31/2018 $10,586 $10,739 $10,191 6/30/2018 $10,593 $10,726 $10,207 7/31/2018 $10,593 $10,728 $10,224 8/31/2018 $10,627 $10,797 $10,242 9/30/2018 $10,640 $10,728 $10,257 10/31/2018 $10,585 $10,643 $10,276 11/30/2018 $10,605 $10,707 $10,297 12/31/2018 $10,546 $10,903 $10,316 1/31/2019 $10,679 $11,019 $10,336 2/28/2019 $10,752 $11,013 $10,354 3/31/2019 $10,790 $11,224 $10,377 4/30/2019 $10,840 $11,227 $10,397 5/31/2019 $10,857 $11,426 $10,421 6/30/2019 $10,895 $11,570 $10,443 7/31/2019 $10,915 $11,595 $10,463 8/31/2019 $10,967 $11,896 $10,484 9/30/2019 $10,973 $11,833 $10,503 10/31/2019 $10,992 $11,868 $10,523 11/30/2019 $11,046 $11,862 $10,536 12/31/2019 $11,103 $11,854 $10,551 1/31/2020 $11,134 $12,082 $10,565 2/29/2020 $11,149 $12,299 $10,581 3/31/2020 $10,486 $12,227 $10,611 4/30/2020 $10,727 $12,444 $10,612 5/31/2020 $11,123 $12,502 $10,612 6/30/2020 $11,305 $12,581 $10,614 7/31/2020 $11,420 $12,769 $10,616 8/31/2020 $11,554 $12,666 $10,617 9/30/2020 $11,557 $12,659 $10,618 10/31/2020 $11,590 $12,602 $10,619 11/30/2020 $11,756 $12,726 $10,620 12/31/2020 $11,815 $12,744 $10,621 1/31/2021 $11,852 $12,652 $10,622 2/28/2021 $11,931 $12,470 $10,623 3/31/2021 $11,942 $12,314 $10,624 4/30/2021 $12,029 $12,411 $10,624 5/31/2021 $12,024 $12,452 $10,624 6/30/2021 $12,053 $12,539 $10,624 7/31/2021 $12,046 $12,679 $10,624 8/31/2021 $12,066 $12,655 $10,625 9/30/2021 $12,081 $12,546 $10,625 10/31/2021 $12,109 $12,542 $10,625 11/30/2021 $12,116 $12,579 $10,626 12/31/2021 $12,177 $12,547 $10,627 1/31/2022 $12,100 $12,277 $10,626 2/28/2022 $12,109 $12,140 $10,627 3/31/2022 $12,077 $11,803 $10,631 4/30/2022 $11,908 $11,355 $10,632 5/31/2022 $11,802 $11,428 $10,639 6/30/2022 $11,504 $11,249 $10,642 7/31/2022 $11,717 $11,523 $10,647 8/31/2022 $11,754 $11,198 $10,664 9/30/2022 $11,710 $10,714 $10,691 10/31/2022 $11,795 $10,575 $10,708 11/30/2022 $11,908 $10,964 $10,742 12/31/2022 $11,820 $10,915 $10,781 1/31/2023 $12,015 $11,251 $10,815 2/28/2023 $12,085 $10,960 $10,850 3/31/2023 $12,089 $11,238 $10,897 4/30/2023 $12,161 $11,306 $10,931 5/31/2023 $12,143 $11,183 $10,974 6/30/2023 $12,262 $11,143 $11,024 7/31/2023 $12,243 $11,135 $11,068 8/31/2023 $12,339 $11,064 $11,118 9/30/2023 $12,399 $10,783 $11,169 10/31/2023 $12,372 $10,613 $11,219 11/30/2023 $12,506 $11,094 $11,269 12/31/2023 $12,649 $11,518 $11,322 1/31/2024 $12,699 $11,487 $11,370 2/29/2024 $12,751 $11,324 $11,417 3/31/2024 $12,744 $11,429 $11,468 4/30/2024 $12,777 $11,140 $11,517 5/31/2024 $12,866 $11,329 $11,572 |
Average Annual Return [Table Text Block] | 1 Year 5 Years 10 Years Class R 5.96% 3.45% 2.55% Bloomberg U.S. Aggregate Bond Index 1.31% - 1.26% ICE BofA U.S. 3-Month Treasury Bill Index 5.45% 2.12% 1.47% |
AssetsNet | $ 143,238,533 |
Holdings Count | Holding | 103 |
Advisory Fees Paid, Amount | $ 768,351 |
InvestmentCompanyPortfolioTurnover | 117% |
Additional Fund Statistics [Text Block] | Key Fund Statistics Total Net Assets $143,238,533 Number of Portfolio Holdings 103 Total Advisory Fees Paid $768,351 Portfolio Turnover Rate 117% |
Holdings [Text Block] | Sector Weighting (%) Value Value Technology 27.83% Consumer, Cyclical 19.03% Telecommunication Services 18.41% Consumer, Non-cyclical 16.06% Energy 6.80% Industrials 5.91% Financials 2.36% Utilities 1.85% Materials 1.75% |
Material Fund Change [Text Block] | Material Fund Changes There were no material changes to the Fund since May 31, 2023. |
C000092485 | |
Shareholder Report [Line Items] | |
Fund Name | Water Island Event-Driven Fund |
Class Name | Class I |
Trading Symbol | AEDNX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about Water Island Event-Driven Fund for the period of June 1, 2023 to May 31, 2024. |
Shareholder Report Annual or Semi-Annual | Annual Shareholder Report |
Additional Information [Text Block] | You can find additional information about the Fund at www.arbitragefunds.com/water-island-event-driven |
Additional Information Phone Number | 1-800-295-4485 |
Additional Information Website | www.arbitragefunds.com/water-island-event-driven</span>" id="sjs-B156"><span style="box-sizing: border-box; color: rgb(41, 59, 67); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 20px; margin: 0px; overflow: visible; text-align: left; height: auto; max-height: none; min-height: 0px;">www.arbitragefunds.com/water-island-event-driven</span> |
Expenses [Text Block] | What were the Fund costs for the last year? Annual Fund Operating Expenses (based on a hypothetical $10,000 investment) Class Name Cost of a $10,000 investment Costs paid as a percentage of a $10,000 investment Class I $152 1.47% |
Expenses Paid, Amount | $ 152 |
Expense Ratio, Percent | 1.47% |
Factors Affecting Performance [Text Block] | How did the Fund perform last year and what affected its performance? The Funds performance for the fiscal year was driven by the outcomes of the idiosyncratic corporate catalysts in which the Fund invested. Returns were sourced predominantly from the Funds merger arbitrage sleeve, which notably included several high-profile deals that experienced favorable outcomes despite regulatory challenges. Most of the Funds performance was generated by investments in US-based catalysts. Information technology and health care were the top performing sectors, while consumer discretionary and materials detracted the most from returns. Top contributors included the acquisition of VMware by Broadcom, Microsofts acquisition of Activision Blizzard, and the acquisition of Horizon Therapeutics by Amgen. Top detractors included the merger of Capri Holdings and Tapestry, the acquisition of United States Steel by Nippon Steel, and the failed acquisition of PNM Resources by Avangrid. |
Average Annual Return [Table Text Block] | 1 Year 5 Years 10 Years Class I 7.03% 4.18% 2.00% S&P 500 ® 28.19% 15.80% 12.69% ICE BofA U.S. 3-Month Treasury Bill Index 5.45% 2.12% 1.47% Bloomberg U.S. Aggregate Bond Index 1.31% -0.17% 1.26% |
AssetsNet | $ 80,324,009 |
Holdings Count | Holding | 125 |
Advisory Fees Paid, Amount | $ 1,181,245 |
InvestmentCompanyPortfolioTurnover | 305% |
Additional Fund Statistics [Text Block] | Key Fund Statistics Total Net Assets $80,324,009 Number of Portfolio Holdings 125 Total Advisory Fees Paid $1,181,245 Portfolio Turnover Rate 305% |
Holdings [Text Block] | Sector Weighting (%) Value Value Consumer, Non-cyclical 34.50% Technology 16.88% Energy 16.28% Consumer, Cyclical 10.24% Telecommunication Services 10.17% Financials 6.33% Materials 3.18% Utilities 1.22% Industrials 1.20% |
Material Fund Change [Text Block] | Material Fund Changes There were no material changes to the Fund since May 31, 2023. |
C000127230 | |
Shareholder Report [Line Items] | |
Fund Name | Water Island Credit Opportunities Fund |
Class Name | Class A |
Trading Symbol | AGCAX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about Water Island Credit Opportunities Fund for the period of June 1, 2023 to May 31, 2024. |
Shareholder Report Annual or Semi-Annual | Annual Shareholder Report |
Additional Information [Text Block] | You can find additional information about the Fund at www.arbitragefunds.com/water-island-credit-opportunities |
Additional Information Phone Number | 1-800-295-4485 |
Additional Information Website | www.arbitragefunds.com/water-island-credit-opportunities</span>" id="sjs-B178"><span style="box-sizing: border-box; color: rgb(41, 59, 67); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 20px; margin: 0px; overflow: visible; text-align: left; height: auto; max-height: none; min-height: 0px;">www.arbitragefunds.com/water-island-credit-opportunities</span> |
Expenses [Text Block] | What were the Fund costs for the last year? Annual Fund Operating Expenses (based on a hypothetical $10,000 investment) Class Name Cost of a $10,000 investment Costs paid as a percentage of a $10,000 investment Class A $134 1.30% |
Expenses Paid, Amount | $ 134 |
Expense Ratio, Percent | 1.30% |
Factors Affecting Performance [Text Block] | How did the Fund perform last year and what affected its performance? The Funds performance for the fiscal year was driven by the outcomes of the idiosyncratic corporate catalysts in which the Fund invested. Performance was sourced largely from credit special situations investments, though merger-related credit also contributed to returns. Most of the Funds performance was generated by investments in US-based catalysts. Information technology and health care were the top performing sectors, while utilities and real estate detracted the most from returns. Top contributors included the Funds investments in UpHealth bonds, Getty Images bonds, and Kaleyra bonds. Top detractors included the Funds investments in Lightning eMotors bonds, broad credit market hedges, and Altice France bonds. |
Line Graph [Table Text Block] | Class A $12,457 Bloomberg U.S. Aggregate Bond Index $11,329 ICE BofA U.S. 3-Month Treasury Bill Index $11,572 5/31/2014 $9,679 $10,000 $10,000 6/30/2014 $9,713 $10,005 $10,000 7/31/2014 $9,723 $9,980 $10,001 8/31/2014 $9,732 $10,090 $10,001 9/30/2014 $9,707 $10,022 $10,001 10/31/2014 $9,669 $10,120 $10,002 11/30/2014 $9,698 $10,192 $10,002 12/31/2014 $9,605 $10,202 $10,002 1/31/2015 $9,634 $10,415 $10,002 2/28/2015 $9,653 $10,318 $10,002 3/31/2015 $9,668 $10,365 $10,002 4/30/2015 $9,668 $10,328 $10,002 5/31/2015 $9,678 $10,303 $10,002 6/30/2015 $9,662 $10,191 $10,003 7/31/2015 $9,642 $10,262 $10,002 8/31/2015 $9,583 $10,247 $10,004 9/30/2015 $9,506 $10,316 $10,004 10/31/2015 $9,546 $10,318 $10,003 11/30/2015 $9,516 $10,291 $10,004 12/31/2015 $9,484 $10,258 $10,007 1/31/2016 $9,464 $10,399 $10,007 2/29/2016 $9,563 $10,473 $10,010 3/31/2016 $9,600 $10,569 $10,015 4/30/2016 $9,590 $10,609 $10,017 5/31/2016 $9,680 $10,612 $10,018 6/30/2016 $9,680 $10,803 $10,022 7/31/2016 $9,730 $10,871 $10,025 8/31/2016 $9,800 $10,859 $10,026 9/30/2016 $9,867 $10,852 $10,031 10/31/2016 $9,826 $10,769 $10,034 11/30/2016 $9,887 $10,514 $10,036 12/31/2016 $9,926 $10,529 $10,040 1/31/2017 $9,926 $10,550 $10,044 2/28/2017 $9,936 $10,621 $10,048 3/31/2017 $9,853 $10,615 $10,050 4/30/2017 $9,907 $10,697 $10,057 5/31/2017 $9,930 $10,779 $10,062 6/30/2017 $10,007 $10,769 $10,070 7/31/2017 $10,005 $10,815 $10,079 8/31/2017 $9,996 $10,912 $10,088 9/30/2017 $10,018 $10,860 $10,097 10/31/2017 $10,075 $10,866 $10,106 11/30/2017 $9,982 $10,852 $10,115 12/31/2017 $10,052 $10,902 $10,125 1/31/2018 $10,127 $10,777 $10,138 2/28/2018 $10,185 $10,674 $10,147 3/31/2018 $10,196 $10,743 $10,161 4/30/2018 $10,215 $10,663 $10,175 5/31/2018 $10,238 $10,739 $10,191 6/30/2018 $10,244 $10,726 $10,207 7/31/2018 $10,244 $10,728 $10,224 8/31/2018 $10,277 $10,797 $10,242 9/30/2018 $10,289 $10,728 $10,257 10/31/2018 $10,236 $10,643 $10,276 11/30/2018 $10,266 $10,707 $10,297 12/31/2018 $10,197 $10,903 $10,316 1/31/2019 $10,338 $11,019 $10,336 2/28/2019 $10,398 $11,013 $10,354 3/31/2019 $10,435 $11,224 $10,377 4/30/2019 $10,483 $11,227 $10,397 5/31/2019 $10,499 $11,426 $10,421 6/30/2019 $10,547 $11,570 $10,443 7/31/2019 $10,567 $11,595 $10,463 8/31/2019 $10,605 $11,896 $10,484 9/30/2019 $10,622 $11,833 $10,503 10/31/2019 $10,630 $11,868 $10,523 11/30/2019 $10,681 $11,862 $10,536 12/31/2019 $10,737 $11,854 $10,551 1/31/2020 $10,767 $12,082 $10,565 2/29/2020 $10,782 $12,299 $10,581 3/31/2020 $10,148 $12,227 $10,611 4/30/2020 $10,382 $12,444 $10,612 5/31/2020 $10,768 $12,502 $10,612 6/30/2020 $10,945 $12,581 $10,614 7/31/2020 $11,057 $12,769 $10,616 8/31/2020 $11,187 $12,666 $10,617 9/30/2020 $11,178 $12,659 $10,618 10/31/2020 $11,222 $12,602 $10,619 11/30/2020 $11,383 $12,726 $10,620 12/31/2020 $11,440 $12,744 $10,621 1/31/2021 $11,476 $12,652 $10,622 2/28/2021 $11,553 $12,470 $10,623 3/31/2021 $11,563 $12,314 $10,624 4/30/2021 $11,636 $12,411 $10,624 5/31/2021 $11,631 $12,452 $10,624 6/30/2021 $11,671 $12,539 $10,624 7/31/2021 $11,664 $12,679 $10,624 8/31/2021 $11,683 $12,655 $10,625 9/30/2021 $11,687 $12,546 $10,625 10/31/2021 $11,725 $12,542 $10,625 11/30/2021 $11,732 $12,579 $10,626 12/31/2021 $11,791 $12,547 $10,627 1/31/2022 $11,716 $12,277 $10,626 2/28/2022 $11,725 $12,140 $10,627 3/31/2022 $11,693 $11,803 $10,631 4/30/2022 $11,529 $11,355 $10,632 5/31/2022 $11,427 $11,428 $10,639 6/30/2022 $11,136 $11,249 $10,642 7/31/2022 $11,344 $11,523 $10,647 8/31/2022 $11,380 $11,198 $10,664 9/30/2022 $11,336 $10,714 $10,691 10/31/2022 $11,419 $10,575 $10,708 11/30/2022 $11,529 $10,964 $10,742 12/31/2022 $11,443 $10,915 $10,781 1/31/2023 $11,632 $11,251 $10,815 2/28/2023 $11,700 $10,960 $10,850 3/31/2023 $11,704 $11,238 $10,897 4/30/2023 $11,774 $11,306 $10,931 5/31/2023 $11,756 $11,183 $10,974 6/30/2023 $11,871 $11,143 $11,024 7/31/2023 $11,853 $11,135 $11,068 8/31/2023 $11,947 $11,064 $11,118 9/30/2023 $12,004 $10,783 $11,169 10/31/2023 $11,978 $10,613 $11,219 11/30/2023 $12,108 $11,094 $11,269 12/31/2023 $12,247 $11,518 $11,322 1/31/2024 $12,296 $11,487 $11,370 2/29/2024 $12,346 $11,324 $11,417 3/31/2024 $12,339 $11,429 $11,468 4/30/2024 $12,371 $11,140 $11,517 5/31/2024 $12,457 $11,329 $11,572 |
Average Annual Return [Table Text Block] | 1 Year 5 Years 10 Years Class A 5.96% 3.48% 2.56% Class A (After Sales Charges) 2.54% 2.81% 2.22% Bloomberg U.S. Aggregate Bond Index 1.31% - 1.26% ICE BofA U.S. 3-Month Treasury Bill Index 5.45% 2.12% 1.47% |
AssetsNet | $ 143,238,533 |
Holdings Count | Holding | 103 |
Advisory Fees Paid, Amount | $ 768,351 |
InvestmentCompanyPortfolioTurnover | 117% |
Additional Fund Statistics [Text Block] | Key Fund Statistics Total Net Assets $143,238,533 Number of Portfolio Holdings 103 Total Advisory Fees Paid $768,351 Portfolio Turnover Rate 117% |
Holdings [Text Block] | Sector Weighting (%) Value Value Technology 27.83% Consumer, Cyclical 19.03% Telecommunication Services 18.41% Consumer, Non-cyclical 16.06% Energy 6.80% Industrials 5.91% Financials 2.36% Utilities 1.85% Materials 1.75% |
Material Fund Change [Text Block] | Material Fund Changes There were no material changes to the Fund since May 31, 2023. |
C000017638 | |
Shareholder Report [Line Items] | |
Fund Name | Arbitrage Fund |
Class Name | Class I |
Trading Symbol | ARBNX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about Arbitrage Fund for the period of June 1, 2023 to May 31, 2024. |
Shareholder Report Annual or Semi-Annual | Annual Shareholder Report |
Additional Information [Text Block] | You can find additional information about the Fund at www.arbitragefunds.com/arbitrage |
Additional Information Phone Number | 1-800-295-4485 |
Additional Information Website | www.arbitragefunds.com/arbitrage</span>" id="sjs-B201"><span style="box-sizing: border-box; color: rgb(41, 59, 67); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 20px; margin: 0px; overflow: visible; text-align: left; height: auto; max-height: none; min-height: 0px;">www.arbitragefunds.com/arbitrage</span> |
Expenses [Text Block] | What were the Fund costs for the last year? Annual Fund Operating Expenses (based on a hypothetical $10,000 investment) Class Name Cost of a $10,000 investment Costs paid as a percentage of a $10,000 investment Class I $136 1.31% |
Expenses Paid, Amount | $ 136 |
Expense Ratio, Percent | 1.31% |
Factors Affecting Performance [Text Block] | How did the Fund perform last year and what affected its performance? The Funds performance for the fiscal year was driven by the outcomes of the idiosyncratic mergers and acquisitions transactions in which the Fund invested, notably including several high-profile deals that experienced favorable outcomes despite regulatory challenges. Returns were sourced predominantly from US-target transactions. Information technology and health care were the top performing sectors, while consumer discretionary and materials detracted the most from returns. Top contributors included the acquisition of VMware by Broadcom, Microsofts acquisition of Activision Blizzard, and the acquisition of Horizon Therapeutics by Amgen. Top detractors included the merger of Capri Holdings and Tapestry, the acquisition of United States Steel by Nippon Steel, and the failed acquisition of PNM Resources by Avangrid. |
Average Annual Return [Table Text Block] | 1 Year 5 Years 10 Years Class I 7.76% 2.82% 2.68% S&P 500 ® 28.19% 15.80% 12.69% ICE BofA U.S. 3-Month Treasury Bill Index 5.45% 2.12% 1.47% Bloomberg U.S. Aggregate Bond Index 1.31% -0.17% 1.26% |
AssetsNet | $ 938,998,873 |
Holdings Count | Holding | 99 |
Advisory Fees Paid, Amount | $ 10,257,507 |
InvestmentCompanyPortfolioTurnover | 230% |
Additional Fund Statistics [Text Block] | Key Fund Statistics Total Net Assets $938,998,873 Number of Portfolio Holdings 99 Total Advisory Fees Paid $10,257,507 Portfolio Turnover Rate 230% |
Holdings [Text Block] | Sector Weighting (%) Value Value Consumer, Non-cyclical 30.10% Technology 18.83% Energy 12.91% Telecommunication Services 11.14% Funds 6.12% Financials 4.80% Materials 4.56% Consumer, Cyclical 4.18% Industrials 4.17% Utilities 3.19% |
Material Fund Change [Text Block] | Material Fund Changes There were no material changes to the Fund since May 31, 2023. |
C000127228 | |
Shareholder Report [Line Items] | |
Fund Name | Arbitrage Fund |
Class Name | Class A |
Trading Symbol | ARGAX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about Arbitrage Fund for the period of June 1, 2023 to May 31, 2024. |
Shareholder Report Annual or Semi-Annual | Annual Shareholder Report |
Additional Information [Text Block] | You can find additional information about the Fund at www.arbitragefunds.com/arbitrage |
Additional Information Phone Number | 1-800-295-4485 |
Additional Information Website | www.arbitragefunds.com/arbitrage</span>" id="sjs-B223"><span style="box-sizing: border-box; color: rgb(41, 59, 67); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 20px; margin: 0px; overflow: visible; text-align: left; height: auto; max-height: none; min-height: 0px;">www.arbitragefunds.com/arbitrage</span> |
Expenses [Text Block] | What were the Fund costs for the last year? Annual Fund Operating Expenses (based on a hypothetical $10,000 investment) Class Name Cost of a $10,000 investment Costs paid as a percentage of a $10,000 investment Class A $162 1.56% |
Expenses Paid, Amount | $ 162 |
Expense Ratio, Percent | 1.56% |
Factors Affecting Performance [Text Block] | How did the Fund perform last year and what affected its performance? The Funds performance for the fiscal year was driven by the outcomes of the idiosyncratic mergers and acquisitions transactions in which the Fund invested, notably including several high-profile deals that experienced favorable outcomes despite regulatory challenges. Returns were sourced predominantly from US-target transactions. Information technology and health care were the top performing sectors, while consumer discretionary and materials detracted the most from returns. Top contributors included the acquisition of VMware by Broadcom, Microsofts acquisition of Activision Blizzard, and the acquisition of Horizon Therapeutics by Amgen. Top detractors included the merger of Capri Holdings and Tapestry, the acquisition of United States Steel by Nippon Steel, and the failed acquisition of PNM Resources by Avangrid. |
Line Graph [Table Text Block] | Class A $12,391 S&P 500 ® ICE BofA U.S. 3-Month Treasury Bill Index $11,572 Bloomberg U.S. Aggregate Bond Index $11,329 5/31/2014 $9,752 $10,000 $10,000 $10,000 6/30/2014 $9,837 $10,207 $10,000 $10,005 7/31/2014 $9,837 $10,066 $10,001 $9,980 8/31/2014 $9,853 $10,469 $10,001 $10,090 9/30/2014 $9,814 $10,322 $10,001 $10,022 10/31/2014 $9,744 $10,574 $10,002 $10,120 11/30/2014 $9,814 $10,858 $10,002 $10,192 12/31/2014 $9,900 $10,831 $10,002 $10,202 1/31/2015 $9,931 $10,506 $10,002 $10,415 2/28/2015 $9,954 $11,109 $10,002 $10,318 3/31/2015 $10,009 $10,934 $10,002 $10,365 4/30/2015 $10,047 $11,039 $10,002 $10,328 5/31/2015 $10,071 $11,181 $10,002 $10,303 6/30/2015 $9,939 $10,964 $10,003 $10,191 7/31/2015 $9,931 $11,194 $10,002 $10,262 8/31/2015 $9,915 $10,519 $10,004 $10,247 9/30/2015 $9,799 $10,258 $10,004 $10,316 10/31/2015 $9,892 $11,124 $10,003 $10,318 11/30/2015 $9,908 $11,157 $10,004 $10,291 12/31/2015 $9,968 $10,981 $10,007 $10,258 1/31/2016 $10,023 $10,436 $10,007 $10,399 2/29/2016 $10,071 $10,422 $10,010 $10,473 3/31/2016 $10,127 $11,129 $10,015 $10,569 4/30/2016 $10,103 $11,172 $10,017 $10,609 5/31/2016 $10,166 $11,372 $10,018 $10,612 6/30/2016 $10,159 $11,402 $10,022 $10,803 7/31/2016 $10,166 $11,822 $10,025 $10,871 8/31/2016 $10,182 $11,839 $10,026 $10,859 9/30/2016 $10,238 $11,841 $10,031 $10,852 10/31/2016 $10,151 $11,625 $10,034 $10,769 11/30/2016 $10,238 $12,056 $10,036 $10,514 12/31/2016 $10,296 $12,294 $10,040 $10,529 1/31/2017 $10,312 $12,527 $10,044 $10,550 2/28/2017 $10,352 $13,025 $10,048 $10,621 3/31/2017 $10,400 $13,040 $10,050 $10,615 4/30/2017 $10,441 $13,174 $10,057 $10,697 5/31/2017 $10,489 $13,359 $10,062 $10,779 6/30/2017 $10,529 $13,442 $10,070 $10,769 7/31/2017 $10,521 $13,719 $10,079 $10,815 8/31/2017 $10,553 $13,761 $10,088 $10,912 9/30/2017 $10,553 $14,045 $10,097 $10,860 10/31/2017 $10,609 $14,372 $10,106 $10,866 11/30/2017 $10,489 $14,813 $10,115 $10,852 12/31/2017 $10,561 $14,978 $10,125 $10,902 1/31/2018 $10,602 $15,836 $10,138 $10,777 2/28/2018 $10,677 $15,252 $10,147 $10,674 3/31/2018 $10,553 $14,864 $10,161 $10,743 4/30/2018 $10,453 $14,921 $10,175 $10,663 5/31/2018 $10,511 $15,281 $10,191 $10,739 6/30/2018 $10,553 $15,375 $10,207 $10,726 7/31/2018 $10,519 $15,947 $10,224 $10,728 8/31/2018 $10,536 $16,466 $10,242 $10,797 9/30/2018 $10,594 $16,560 $10,257 $10,728 10/31/2018 $10,611 $15,428 $10,276 $10,643 11/30/2018 $10,719 $15,743 $10,297 $10,707 12/31/2018 $10,781 $14,321 $10,316 $10,903 1/31/2019 $10,832 $15,469 $10,336 $11,019 2/28/2019 $10,849 $15,966 $10,354 $11,013 3/31/2019 $10,883 $16,276 $10,377 $11,224 4/30/2019 $10,976 $16,935 $10,397 $11,227 5/31/2019 $10,925 $15,859 $10,421 $11,426 6/30/2019 $10,916 $16,976 $10,443 $11,570 7/31/2019 $11,001 $17,220 $10,463 $11,595 8/31/2019 $11,018 $16,948 $10,484 $11,896 9/30/2019 $11,027 $17,265 $10,503 $11,833 10/31/2019 $11,077 $17,639 $10,523 $11,868 11/30/2019 $11,120 $18,279 $10,536 $11,862 12/31/2019 $11,166 $18,831 $10,551 $11,854 1/31/2020 $11,209 $18,823 $10,565 $12,082 2/29/2020 $11,166 $17,274 $10,581 $12,299 3/31/2020 $10,846 $15,140 $10,611 $12,227 4/30/2020 $11,226 $17,081 $10,612 $12,444 5/31/2020 $11,252 $17,895 $10,612 $12,502 6/30/2020 $11,244 $18,250 $10,614 $12,581 7/31/2020 $11,330 $19,279 $10,616 $12,769 8/31/2020 $11,391 $20,665 $10,617 $12,666 9/30/2020 $11,417 $19,880 $10,618 $12,659 10/31/2020 $11,486 $19,351 $10,619 $12,602 11/30/2020 $11,616 $21,470 $10,620 $12,726 12/31/2020 $11,774 $22,295 $10,621 $12,744 1/31/2021 $11,885 $22,070 $10,622 $12,652 2/28/2021 $11,885 $22,679 $10,623 $12,470 3/31/2021 $11,950 $23,672 $10,624 $12,314 4/30/2021 $12,061 $24,935 $10,624 $12,411 5/31/2021 $12,107 $25,109 $10,624 $12,452 6/30/2021 $12,015 $25,696 $10,624 $12,539 7/31/2021 $11,765 $26,306 $10,624 $12,679 8/31/2021 $11,839 $27,106 $10,625 $12,655 9/30/2021 $11,894 $25,845 $10,625 $12,546 10/31/2021 $11,931 $27,656 $10,625 $12,542 11/30/2021 $11,765 $27,464 $10,626 $12,579 12/31/2021 $11,875 $28,695 $10,627 $12,547 1/31/2022 $11,735 $27,210 $10,626 $12,277 2/28/2022 $11,754 $26,395 $10,627 $12,140 3/31/2022 $11,828 $27,375 $10,631 $11,803 4/30/2022 $11,754 $24,988 $10,632 $11,355 5/31/2022 $11,651 $25,034 $10,639 $11,428 6/30/2022 $11,484 $22,968 $10,642 $11,249 7/31/2022 $11,651 $25,085 $10,647 $11,523 8/31/2022 $11,707 $24,062 $10,664 $11,198 9/30/2022 $11,614 $21,846 $10,691 $10,714 10/31/2022 $11,819 $23,615 $10,708 $10,575 11/30/2022 $11,698 $24,935 $10,742 $10,964 12/31/2022 $11,759 $23,498 $10,781 $10,915 1/31/2023 $11,779 $24,975 $10,815 $11,251 2/28/2023 $11,750 $24,365 $10,850 $10,960 3/31/2023 $11,779 $25,260 $10,897 $11,238 4/30/2023 $11,788 $25,654 $10,931 $11,306 5/31/2023 $11,528 $25,766 $10,974 $11,183 6/30/2023 $11,711 $27,468 $11,024 $11,143 7/31/2023 $11,885 $28,350 $11,068 $11,135 8/31/2023 $12,011 $27,899 $11,118 $11,064 9/30/2023 $12,039 $26,569 $11,169 $10,783 10/31/2023 $11,982 $26,010 $11,219 $10,613 11/30/2023 $12,281 $28,386 $11,269 $11,094 12/31/2023 $12,450 $29,675 $11,322 $11,518 1/31/2024 $12,381 $30,174 $11,370 $11,487 2/29/2024 $12,381 $31,785 $11,417 $11,324 3/31/2024 $12,568 $32,808 $11,468 $11,429 4/30/2024 $12,342 $31,468 $11,517 $11,140 5/31/2024 $12,391 $33,028 $11,572 $11,329 |
Average Annual Return [Table Text Block] | 1 Year 5 Years 10 Years Class A 7.49% 2.55% 2.42% Class A (After Sales Charges) 4.51% 2.03% 2.17% S&P 500 ® 28.19% 15.80% 12.69% ICE BofA U.S. 3-Month Treasury Bill Index 5.45% 2.12% 1.47% Bloomberg U.S. Aggregate Bond Index 1.31% -0.17% 1.26% |
AssetsNet | $ 938,998,873 |
Holdings Count | Holding | 99 |
Advisory Fees Paid, Amount | $ 10,257,507 |
InvestmentCompanyPortfolioTurnover | 230% |
Additional Fund Statistics [Text Block] | Key Fund Statistics Total Net Assets $938,998,873 Number of Portfolio Holdings 99 Total Advisory Fees Paid $10,257,507 Portfolio Turnover Rate 230% |
Holdings [Text Block] | Sector Weighting (%) Value Value Consumer, Non-cyclical 30.10% Technology 18.83% Energy 12.91% Telecommunication Services 11.14% Funds 6.12% Financials 4.80% Materials 4.56% Consumer, Cyclical 4.18% Industrials 4.17% Utilities 3.19% |
Material Fund Change [Text Block] | Material Fund Changes There were no material changes to the Fund since May 31, 2023. |
Shareholder Report, Line Graph
Shareholder Report, Line Graph (Details) - USD ($) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
May 31, 2024 | Apr. 30, 2024 | Mar. 31, 2024 | Feb. 29, 2024 | Jan. 31, 2024 | Dec. 31, 2023 | Nov. 30, 2023 | Oct. 31, 2023 | Sep. 30, 2023 | Aug. 31, 2023 | Jul. 31, 2023 | Jun. 30, 2023 | May 31, 2023 | Apr. 30, 2023 | Mar. 31, 2023 | Feb. 28, 2023 | Jan. 31, 2023 | Dec. 31, 2022 | Nov. 30, 2022 | Oct. 31, 2022 | Sep. 30, 2022 | Aug. 31, 2022 | Jul. 31, 2022 | Jun. 30, 2022 | May 31, 2022 | Apr. 30, 2022 | Mar. 31, 2022 | Feb. 28, 2022 | Jan. 31, 2022 | Dec. 31, 2021 | Nov. 30, 2021 | Oct. 31, 2021 | Sep. 30, 2021 | Aug. 31, 2021 | Jul. 31, 2021 | Jun. 30, 2021 | May 31, 2021 | Apr. 30, 2021 | Mar. 31, 2021 | Feb. 28, 2021 | Jan. 31, 2021 | Dec. 31, 2020 | Nov. 30, 2020 | Oct. 31, 2020 | Sep. 30, 2020 | Aug. 31, 2020 | Jul. 31, 2020 | Jun. 30, 2020 | May 31, 2020 | Apr. 30, 2020 | Mar. 31, 2020 | Feb. 29, 2020 | Jan. 31, 2020 | Dec. 31, 2019 | Nov. 30, 2019 | Oct. 31, 2019 | Sep. 30, 2019 | Aug. 31, 2019 | Jul. 31, 2019 | Jun. 30, 2019 | May 31, 2019 | Apr. 30, 2019 | Mar. 31, 2019 | Feb. 28, 2019 | Jan. 31, 2019 | Dec. 31, 2018 | Nov. 30, 2018 | Oct. 31, 2018 | Sep. 30, 2018 | Aug. 31, 2018 | Jul. 31, 2018 | Jun. 30, 2018 | May 31, 2018 | Apr. 30, 2018 | Mar. 31, 2018 | Feb. 28, 2018 | Jan. 31, 2018 | Dec. 31, 2017 | Nov. 30, 2017 | Oct. 31, 2017 | Sep. 30, 2017 | Aug. 31, 2017 | Jul. 31, 2017 | Jun. 30, 2017 | May 31, 2017 | Apr. 30, 2017 | Mar. 31, 2017 | Feb. 28, 2017 | Jan. 31, 2017 | Dec. 31, 2016 | Nov. 30, 2016 | Oct. 31, 2016 | Sep. 30, 2016 | Aug. 31, 2016 | Jul. 31, 2016 | Jun. 30, 2016 | May 31, 2016 | Apr. 30, 2016 | Mar. 31, 2016 | Feb. 29, 2016 | Jan. 31, 2016 | Dec. 31, 2015 | Nov. 30, 2015 | Oct. 31, 2015 | Sep. 30, 2015 | Aug. 31, 2015 | Jul. 31, 2015 | Jun. 30, 2015 | May 31, 2015 | Apr. 30, 2015 | Mar. 31, 2015 | Feb. 28, 2015 | Jan. 31, 2015 | Dec. 31, 2014 | Nov. 30, 2014 | Oct. 31, 2014 | Sep. 30, 2014 | Aug. 31, 2014 | Jul. 31, 2014 | Jun. 30, 2014 | May 31, 2014 | |
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Account Value | $ 11,497 | $ 11,456 | $ 11,618 | $ 11,537 | $ 11,537 | $ 11,618 | $ 11,475 | $ 11,183 | $ 11,273 | $ 11,233 | $ 11,112 | $ 10,941 | $ 10,770 | $ 11,052 | $ 11,042 | $ 11,012 | $ 11,022 | $ 11,002 | $ 10,951 | $ 11,052 | $ 10,851 | $ 10,921 | $ 10,871 | $ 10,690 | $ 10,901 | $ 10,992 | $ 11,082 | $ 10,992 | $ 10,971 | $ 11,102 | $ 10,971 | $ 11,213 | $ 11,153 | $ 11,092 | $ 11,012 | $ 11,334 | $ 11,444 | $ 11,374 | $ 11,253 | $ 11,203 | $ 11,132 | $ 10,992 | $ 10,655 | $ 10,394 | $ 10,343 | $ 10,273 | $ 10,122 | $ 10,042 | $ 10,022 | $ 9,941 | $ 9,439 | $ 9,700 | $ 9,750 | $ 9,720 | $ 9,639 | $ 9,589 | $ 9,549 | $ 9,569 | $ 9,569 | $ 9,499 | $ 9,489 | $ 9,629 | $ 9,469 | $ 9,449 | $ 9,428 | $ 9,308 | $ 9,353 | $ 9,264 | $ 9,373 | $ 9,353 | $ 9,333 | $ 9,402 | $ 9,343 | $ 9,274 | $ 9,333 | $ 9,462 | $ 9,422 | $ 9,333 | $ 9,216 | $ 9,334 | $ 9,285 | $ 9,265 | $ 9,216 | $ 9,236 | $ 9,206 | $ 9,127 | $ 9,078 | $ 9,058 | $ 9,019 | $ 9,009 | $ 8,950 | $ 8,862 | $ 8,980 | $ 8,930 | $ 8,891 | $ 8,832 | $ 8,842 | $ 8,773 | $ 8,753 | $ 8,665 | $ 8,576 | $ 8,566 | $ 8,571 | $ 8,658 | $ 8,610 | $ 8,946 | $ 9,052 | $ 9,148 | $ 9,360 | $ 9,418 | $ 9,360 | $ 9,427 | $ 9,350 | $ 9,341 | $ 9,418 | $ 9,437 | $ 9,549 | $ 9,690 | $ 9,662 | $ 9,775 | $ 9,671 |
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Line Graph and Table Measure Name | Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Account Value | $ 12,457 | 12,371 | 12,339 | 12,346 | 12,296 | 12,247 | 12,108 | 11,978 | 12,004 | 11,947 | 11,853 | 11,871 | 11,756 | 11,774 | 11,704 | 11,700 | 11,632 | 11,443 | 11,529 | 11,419 | 11,336 | 11,380 | 11,344 | 11,136 | 11,427 | 11,529 | 11,693 | 11,725 | 11,716 | 11,791 | 11,732 | 11,725 | 11,687 | 11,683 | 11,664 | 11,671 | 11,631 | 11,636 | 11,563 | 11,553 | 11,476 | 11,440 | 11,383 | 11,222 | 11,178 | 11,187 | 11,057 | 10,945 | 10,768 | 10,382 | 10,148 | 10,782 | 10,767 | 10,737 | 10,681 | 10,630 | 10,622 | 10,605 | 10,567 | 10,547 | 10,499 | 10,483 | 10,435 | 10,398 | 10,338 | 10,197 | 10,266 | 10,236 | 10,289 | 10,277 | 10,244 | 10,244 | 10,238 | 10,215 | 10,196 | 10,185 | 10,127 | 10,052 | 9,982 | 10,075 | 10,018 | 9,996 | 10,005 | 10,007 | 9,930 | 9,907 | 9,853 | 9,936 | 9,926 | 9,926 | 9,887 | 9,826 | 9,867 | 9,800 | 9,730 | 9,680 | 9,680 | 9,590 | 9,600 | 9,563 | 9,464 | 9,484 | 9,516 | 9,546 | 9,506 | 9,583 | 9,642 | 9,662 | 9,678 | 9,668 | 9,668 | 9,653 | 9,634 | 9,605 | 9,698 | 9,669 | 9,707 | 9,732 | 9,723 | 9,713 | 9,679 |
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Account Value | $ 12,391 | 12,342 | 12,568 | 12,381 | 12,381 | 12,450 | 12,281 | 11,982 | 12,039 | 12,011 | 11,885 | 11,711 | 11,528 | 11,788 | 11,779 | 11,750 | 11,779 | 11,759 | 11,698 | 11,819 | 11,614 | 11,707 | 11,651 | 11,484 | 11,651 | 11,754 | 11,828 | 11,754 | 11,735 | 11,875 | 11,765 | 11,931 | 11,894 | 11,839 | 11,765 | 12,015 | 12,107 | 12,061 | 11,950 | 11,885 | 11,885 | 11,774 | 11,616 | 11,486 | 11,417 | 11,391 | 11,330 | 11,244 | 11,252 | 11,226 | 10,846 | 11,166 | 11,209 | 11,166 | 11,120 | 11,077 | 11,027 | 11,018 | 11,001 | 10,916 | 10,925 | 10,976 | 10,883 | 10,849 | 10,832 | 10,781 | 10,719 | 10,611 | 10,594 | 10,536 | 10,519 | 10,553 | 10,511 | 10,453 | 10,553 | 10,677 | 10,602 | 10,561 | 10,489 | 10,609 | 10,553 | 10,553 | 10,521 | 10,529 | 10,489 | 10,441 | 10,400 | 10,352 | 10,312 | 10,296 | 10,238 | 10,151 | 10,238 | 10,182 | 10,166 | 10,159 | 10,166 | 10,103 | 10,127 | 10,071 | 10,023 | 9,968 | 9,908 | 9,892 | 9,799 | 9,915 | 9,931 | 9,939 | 10,071 | 10,047 | 10,009 | 9,954 | 9,931 | 9,900 | 9,814 | 9,744 | 9,814 | 9,853 | 9,837 | 9,837 | 9,752 |
WATER ISLAND INDEX: S&P 500® | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Line Graph and Table Measure Name | ®</sup> Index $33,028" id="sjs-B38">S&P 500<sup style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 12px; font-weight: 700; grid-area: auto; line-height: 0px; margin: 0px; overflow: visible; position: relative; text-align: center; height: auto; max-height: none; min-height: 0px;">®</sup> Index $33,028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 33,028 | 31,468 | 32,808 | 31,785 | 30,174 | 29,675 | 28,386 | 26,010 | 26,569 | 27,899 | 28,350 | 27,468 | 25,766 | 25,654 | 25,260 | 24,365 | 24,975 | 23,498 | 24,935 | 23,615 | 21,846 | 24,062 | 25,085 | 22,968 | 25,034 | 24,988 | 27,375 | 26,395 | 27,210 | 28,695 | 27,464 | 27,656 | 25,845 | 27,106 | 26,306 | 25,696 | 25,109 | 24,935 | 23,672 | 22,679 | 22,070 | 22,295 | 21,470 | 19,351 | 19,880 | 20,665 | 19,279 | 18,250 | 17,895 | 17,081 | 15,140 | 17,274 | 18,823 | 18,831 | 18,279 | 17,639 | 17,265 | 16,948 | 17,220 | 16,976 | 15,859 | 16,935 | 16,276 | 15,966 | 15,469 | 14,321 | 15,743 | 15,428 | 16,560 | 16,466 | 15,947 | 15,375 | 15,281 | 14,921 | 14,864 | 15,252 | 15,836 | 14,978 | 14,813 | 14,372 | 14,045 | 13,761 | 13,719 | 13,442 | 13,359 | 13,174 | 13,040 | 13,025 | 12,527 | 12,294 | 12,056 | 11,625 | 11,841 | 11,839 | 11,822 | 11,402 | 11,372 | 11,172 | 11,129 | 10,422 | 10,436 | 10,981 | 11,157 | 11,124 | 10,258 | 10,519 | 11,194 | 10,964 | 11,181 | 11,039 | 10,934 | 11,109 | 10,506 | 10,831 | 10,858 | 10,574 | 10,322 | 10,469 | 10,066 | 10,207 | 10,000 |
WATER ISLAND INDEX: S&P 500® | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | ®</sup> Index $33,028" id="sjs-B42">S&P 500<sup style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 12px; font-weight: 700; grid-area: auto; line-height: 0px; margin: 0px; overflow: visible; position: relative; text-align: center; height: auto; max-height: none; min-height: 0px;">®</sup> Index $33,028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 33,028 | 31,468 | 32,808 | 31,785 | 30,174 | 29,675 | 28,386 | 26,010 | 26,569 | 27,899 | 28,350 | 27,468 | 25,766 | 25,654 | 25,260 | 24,365 | 24,975 | 23,498 | 24,935 | 23,615 | 21,846 | 24,062 | 25,085 | 22,968 | 25,034 | 24,988 | 27,375 | 26,395 | 27,210 | 28,695 | 27,464 | 27,656 | 25,845 | 27,106 | 26,306 | 25,696 | 25,109 | 24,935 | 23,672 | 22,679 | 22,070 | 22,295 | 21,470 | 19,351 | 19,880 | 20,665 | 19,279 | 18,250 | 17,895 | 17,081 | 15,140 | 17,274 | 18,823 | 18,831 | 18,279 | 17,639 | 17,265 | 16,948 | 17,220 | 16,976 | 15,859 | 16,935 | 16,276 | 15,966 | 15,469 | 14,321 | 15,743 | 15,428 | 16,560 | 16,466 | 15,947 | 15,375 | 15,281 | 14,921 | 14,864 | 15,252 | 15,836 | 14,978 | 14,813 | 14,372 | 14,045 | 13,761 | 13,719 | 13,442 | 13,359 | 13,174 | 13,040 | 13,025 | 12,527 | 12,294 | 12,056 | 11,625 | 11,841 | 11,839 | 11,822 | 11,402 | 11,372 | 11,172 | 11,129 | 10,422 | 10,436 | 10,981 | 11,157 | 11,124 | 10,258 | 10,519 | 11,194 | 10,964 | 11,181 | 11,039 | 10,934 | 11,109 | 10,506 | 10,831 | 10,858 | 10,574 | 10,322 | 10,469 | 10,066 | 10,207 | 10,000 |
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $113,290 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 113,290 | 111,402 | 114,289 | 113,243 | 114,866 | 115,182 | 110,935 | 106,129 | 107,831 | 110,643 | 111,354 | 111,431 | 111,830 | 113,062 | 112,380 | 109,597 | 112,505 | 109,147 | 109,642 | 105,753 | 107,141 | 111,979 | 115,235 | 112,486 | 114,279 | 113,547 | 118,026 | 121,399 | 122,768 | 125,472 | 125,793 | 125,422 | 125,457 | 126,553 | 126,794 | 125,392 | 124,517 | 124,111 | 123,139 | 124,696 | 126,523 | 127,436 | 127,261 | 126,025 | 126,590 | 126,659 | 127,690 | 125,811 | 125,023 | 124,444 | 122,270 | 122,994 | 120,820 | 118,538 | 118,621 | 118,682 | 118,325 | 118,959 | 115,954 | 115,699 | 114,265 | 112,272 | 112,243 | 110,128 | 110,192 | 109,034 | 107,067 | 106,432 | 107,280 | 107,975 | 107,284 | 107,259 | 107,391 | 106,630 | 107,429 | 106,745 | 107,766 | 109,022 | 108,524 | 108,663 | 108,600 | 109,120 | 108,150 | 107,687 | 107,795 | 106,972 | 106,152 | 106,208 | 105,499 | 105,292 | 105,144 | 107,691 | 108,521 | 108,585 | 108,710 | 108,027 | 106,120 | 106,093 | 105,687 | 104,726 | 103,988 | 102,577 | 102,909 | 103,182 | 103,165 | 102,471 | 102,619 | 101,910 | 103,034 | 103,283 | 103,655 | 103,176 | 104,155 | 102,016 | 101,921 | 101,202 | 100,217 | 100,902 | 99,801 | 100,052 | 100,000 |
WATER ISLAND INDEX: S&P 500® | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | ®</sup> Index $33,028" id="sjs-B50">S&P 500<sup style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 12px; font-weight: 700; grid-area: auto; line-height: 0px; margin: 0px; overflow: visible; position: relative; text-align: center; height: auto; max-height: none; min-height: 0px;">®</sup> Index $33,028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 33,028 | 31,468 | 32,808 | 31,785 | 30,174 | 29,675 | 28,386 | 26,010 | 26,569 | 27,899 | 28,350 | 27,468 | 25,766 | 25,654 | 25,260 | 24,365 | 24,975 | 23,498 | 24,935 | 23,615 | 21,846 | 24,062 | 25,085 | 22,968 | 25,034 | 24,988 | 27,375 | 26,395 | 27,210 | 28,695 | 27,464 | 27,656 | 25,845 | 27,106 | 26,306 | 25,696 | 25,109 | 24,935 | 23,672 | 22,679 | 22,070 | 22,295 | 21,470 | 19,351 | 19,880 | 20,665 | 19,279 | 18,250 | 17,895 | 17,081 | 15,140 | 17,274 | 18,823 | 18,831 | 18,279 | 17,639 | 17,265 | 16,948 | 17,220 | 16,976 | 15,859 | 16,935 | 16,276 | 15,966 | 15,469 | 14,321 | 15,743 | 15,428 | 16,560 | 16,466 | 15,947 | 15,375 | 15,281 | 14,921 | 14,864 | 15,252 | 15,836 | 14,978 | 14,813 | 14,372 | 14,045 | 13,761 | 13,719 | 13,442 | 13,359 | 13,174 | 13,040 | 13,025 | 12,527 | 12,294 | 12,056 | 11,625 | 11,841 | 11,839 | 11,822 | 11,402 | 11,372 | 11,172 | 11,129 | 10,422 | 10,436 | 10,981 | 11,157 | 11,124 | 10,258 | 10,519 | 11,194 | 10,964 | 11,181 | 11,039 | 10,934 | 11,109 | 10,506 | 10,831 | 10,858 | 10,574 | 10,322 | 10,469 | 10,066 | 10,207 | 10,000 |
WATER ISLAND INDEX: S&P 500® | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | ®</sup> Index $33,028" id="sjs-B54">S&P 500<sup style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 12px; font-weight: 700; grid-area: auto; line-height: 0px; margin: 0px; overflow: visible; position: relative; text-align: center; height: auto; max-height: none; min-height: 0px;">®</sup> Index $33,028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 33,028 | 31,468 | 32,808 | 31,785 | 30,174 | 29,675 | 28,386 | 26,010 | 26,569 | 27,899 | 28,350 | 27,468 | 25,766 | 25,654 | 25,260 | 24,365 | 24,975 | 23,498 | 24,935 | 23,615 | 21,846 | 24,062 | 25,085 | 22,968 | 25,034 | 24,988 | 27,375 | 26,395 | 27,210 | 28,695 | 27,464 | 27,656 | 25,845 | 27,106 | 26,306 | 25,696 | 25,109 | 24,935 | 23,672 | 22,679 | 22,070 | 22,295 | 21,470 | 19,351 | 19,880 | 20,665 | 19,279 | 18,250 | 17,895 | 17,081 | 15,140 | 17,274 | 18,823 | 18,831 | 18,279 | 17,639 | 17,265 | 16,948 | 17,220 | 16,976 | 15,859 | 16,935 | 16,276 | 15,966 | 15,469 | 14,321 | 15,743 | 15,428 | 16,560 | 16,466 | 15,947 | 15,375 | 15,281 | 14,921 | 14,864 | 15,252 | 15,836 | 14,978 | 14,813 | 14,372 | 14,045 | 13,761 | 13,719 | 13,442 | 13,359 | 13,174 | 13,040 | 13,025 | 12,527 | 12,294 | 12,056 | 11,625 | 11,841 | 11,839 | 11,822 | 11,402 | 11,372 | 11,172 | 11,129 | 10,422 | 10,436 | 10,981 | 11,157 | 11,124 | 10,258 | 10,519 | 11,194 | 10,964 | 11,181 | 11,039 | 10,934 | 11,109 | 10,506 | 10,831 | 10,858 | 10,574 | 10,322 | 10,469 | 10,066 | 10,207 | 10,000 |
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $11,329 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 11,329 | 11,140 | 11,429 | 11,324 | 11,487 | 11,518 | 11,094 | 10,613 | 10,783 | 11,064 | 11,135 | 11,143 | 11,183 | 11,306 | 11,238 | 10,960 | 11,251 | 10,915 | 10,964 | 10,575 | 10,714 | 11,198 | 11,523 | 11,249 | 11,428 | 11,355 | 11,803 | 12,140 | 12,277 | 12,547 | 12,579 | 12,542 | 12,546 | 12,655 | 12,679 | 12,539 | 12,452 | 12,411 | 12,314 | 12,470 | 12,652 | 12,744 | 12,726 | 12,602 | 12,659 | 12,666 | 12,769 | 12,581 | 12,502 | 12,444 | 12,227 | 12,299 | 12,082 | 11,854 | 11,862 | 11,868 | 11,833 | 11,896 | 11,595 | 11,570 | 11,426 | 11,227 | 11,224 | 11,013 | 11,019 | 10,903 | 10,707 | 10,643 | 10,728 | 10,797 | 10,728 | 10,726 | 10,739 | 10,663 | 10,743 | 10,674 | 10,777 | 10,902 | 10,852 | 10,866 | 10,860 | 10,912 | 10,815 | 10,769 | 10,779 | 10,697 | 10,615 | 10,621 | 10,550 | 10,529 | 10,514 | 10,769 | 10,852 | 10,859 | 10,871 | 10,803 | 10,612 | 10,609 | 10,569 | 10,473 | 10,399 | 10,258 | 10,291 | 10,318 | 10,316 | 10,247 | 10,262 | 10,191 | 10,303 | 10,328 | 10,365 | 10,318 | 10,415 | 10,202 | 10,192 | 10,120 | 10,022 | 10,090 | 9,980 | 10,005 | 10,000 |
WATER ISLAND INDEX: S&P 500® | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | ®</sup> Index $330,280" id="sjs-B62">S&P 500<sup style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 12px; font-weight: 700; grid-area: auto; line-height: 0px; margin: 0px; overflow: visible; position: relative; text-align: center; height: auto; max-height: none; min-height: 0px;">®</sup> Index $330,280 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 330,280 | 314,677 | 328,077 | 317,850 | 301,739 | 296,752 | 283,856 | 260,102 | 265,689 | 278,991 | 283,504 | 274,680 | 257,656 | 256,541 | 252,598 | 243,652 | 249,746 | 234,981 | 249,347 | 236,150 | 218,463 | 240,624 | 250,855 | 229,677 | 250,341 | 249,883 | 273,755 | 263,954 | 272,102 | 286,950 | 274,642 | 276,558 | 258,451 | 271,058 | 263,059 | 256,955 | 251,093 | 249,352 | 236,718 | 226,786 | 220,700 | 222,951 | 214,697 | 193,514 | 198,801 | 206,653 | 192,795 | 182,504 | 178,945 | 170,810 | 151,401 | 172,736 | 188,232 | 188,305 | 182,788 | 176,386 | 172,646 | 169,475 | 172,203 | 169,763 | 158,587 | 169,348 | 162,758 | 159,656 | 154,689 | 143,213 | 157,427 | 154,283 | 165,602 | 164,665 | 159,468 | 153,747 | 152,806 | 149,213 | 148,643 | 152,519 | 158,355 | 149,780 | 148,133 | 143,725 | 140,447 | 137,609 | 137,189 | 134,425 | 133,591 | 131,737 | 130,398 | 130,246 | 125,272 | 122,940 | 120,557 | 116,252 | 118,412 | 118,389 | 118,223 | 114,019 | 113,725 | 111,719 | 111,287 | 104,217 | 104,358 | 109,807 | 111,567 | 111,236 | 102,583 | 105,185 | 111,939 | 109,642 | 111,806 | 110,387 | 109,338 | 111,095 | 105,057 | 108,308 | 108,582 | 105,738 | 103,217 | 104,685 | 100,658 | 102,066 | 100,000 |
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $11,329 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 11,329 | 11,140 | 11,429 | 11,324 | 11,487 | 11,518 | 11,094 | 10,613 | 10,783 | 11,064 | 11,135 | 11,143 | 11,183 | 11,306 | 11,238 | 10,960 | 11,251 | 10,915 | 10,964 | 10,575 | 10,714 | 11,198 | 11,523 | 11,249 | 11,428 | 11,355 | 11,803 | 12,140 | 12,277 | 12,547 | 12,579 | 12,542 | 12,546 | 12,655 | 12,679 | 12,539 | 12,452 | 12,411 | 12,314 | 12,470 | 12,652 | 12,744 | 12,726 | 12,602 | 12,659 | 12,666 | 12,769 | 12,581 | 12,502 | 12,444 | 12,227 | 12,299 | 12,082 | 11,854 | 11,862 | 11,868 | 11,833 | 11,896 | 11,595 | 11,570 | 11,426 | 11,227 | 11,224 | 11,013 | 11,019 | 10,903 | 10,707 | 10,643 | 10,728 | 10,797 | 10,728 | 10,726 | 10,739 | 10,663 | 10,743 | 10,674 | 10,777 | 10,902 | 10,852 | 10,866 | 10,860 | 10,912 | 10,815 | 10,769 | 10,779 | 10,697 | 10,615 | 10,621 | 10,550 | 10,529 | 10,514 | 10,769 | 10,852 | 10,859 | 10,871 | 10,803 | 10,612 | 10,609 | 10,569 | 10,473 | 10,399 | 10,258 | 10,291 | 10,318 | 10,316 | 10,247 | 10,262 | 10,191 | 10,303 | 10,328 | 10,365 | 10,318 | 10,415 | 10,202 | 10,192 | 10,120 | 10,022 | 10,090 | 9,980 | 10,005 | 10,000 |
WATER ISLAND INDEX: S&P 500® | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | ®</sup> Index $33,028" id="sjs-B70">S&P 500<sup style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 12px; font-weight: 700; grid-area: auto; line-height: 0px; margin: 0px; overflow: visible; position: relative; text-align: center; height: auto; max-height: none; min-height: 0px;">®</sup> Index $33,028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 33,028 | 31,468 | 32,808 | 31,785 | 30,174 | 29,675 | 28,386 | 26,010 | 26,569 | 27,899 | 28,350 | 27,468 | 25,766 | 25,654 | 25,260 | 24,365 | 24,975 | 23,498 | 24,935 | 23,615 | 21,846 | 24,062 | 25,085 | 22,968 | 25,034 | 24,988 | 27,375 | 26,395 | 27,210 | 28,695 | 27,464 | 27,656 | 25,845 | 27,106 | 26,306 | 25,696 | 25,109 | 24,935 | 23,672 | 22,679 | 22,070 | 22,295 | 21,470 | 19,351 | 19,880 | 20,665 | 19,279 | 18,250 | 17,895 | 17,081 | 15,140 | 17,274 | 18,823 | 18,831 | 18,279 | 17,639 | 17,265 | 16,948 | 17,220 | 16,976 | 15,859 | 16,935 | 16,276 | 15,966 | 15,469 | 14,321 | 15,743 | 15,428 | 16,560 | 16,466 | 15,947 | 15,375 | 15,281 | 14,921 | 14,864 | 15,252 | 15,836 | 14,978 | 14,813 | 14,372 | 14,045 | 13,761 | 13,719 | 13,442 | 13,359 | 13,174 | 13,040 | 13,025 | 12,527 | 12,294 | 12,056 | 11,625 | 11,841 | 11,839 | 11,822 | 11,402 | 11,372 | 11,172 | 11,129 | 10,422 | 10,436 | 10,981 | 11,157 | 11,124 | 10,258 | 10,519 | 11,194 | 10,964 | 11,181 | 11,039 | 10,934 | 11,109 | 10,506 | 10,831 | 10,858 | 10,574 | 10,322 | 10,469 | 10,066 | 10,207 | 10,000 |
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $11,572 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 11,572 | 11,517 | 11,468 | 11,417 | 11,370 | 11,322 | 11,269 | 11,219 | 11,169 | 11,118 | 11,068 | 11,024 | 10,974 | 10,931 | 10,897 | 10,850 | 10,815 | 10,781 | 10,742 | 10,708 | 10,691 | 10,664 | 10,647 | 10,642 | 10,639 | 10,632 | 10,631 | 10,627 | 10,626 | 10,627 | 10,626 | 10,625 | 10,625 | 10,625 | 10,624 | 10,624 | 10,624 | 10,624 | 10,624 | 10,623 | 10,622 | 10,621 | 10,620 | 10,619 | 10,618 | 10,617 | 10,616 | 10,614 | 10,612 | 10,612 | 10,611 | 10,581 | 10,565 | 10,551 | 10,536 | 10,523 | 10,503 | 10,484 | 10,463 | 10,443 | 10,421 | 10,397 | 10,377 | 10,354 | 10,336 | 10,316 | 10,297 | 10,276 | 10,257 | 10,242 | 10,224 | 10,207 | 10,191 | 10,175 | 10,161 | 10,147 | 10,138 | 10,125 | 10,115 | 10,106 | 10,097 | 10,088 | 10,079 | 10,070 | 10,062 | 10,057 | 10,050 | 10,048 | 10,044 | 10,040 | 10,036 | 10,034 | 10,031 | 10,026 | 10,025 | 10,022 | 10,018 | 10,017 | 10,015 | 10,010 | 10,007 | 10,007 | 10,004 | 10,003 | 10,004 | 10,004 | 10,002 | 10,003 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,001 | 10,001 | 10,001 | 10,000 | 10,000 |
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $11,329 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 11,329 | 11,140 | 11,429 | 11,324 | 11,487 | 11,518 | 11,094 | 10,613 | 10,783 | 11,064 | 11,135 | 11,143 | 11,183 | 11,306 | 11,238 | 10,960 | 11,251 | 10,915 | 10,964 | 10,575 | 10,714 | 11,198 | 11,523 | 11,249 | 11,428 | 11,355 | 11,803 | 12,140 | 12,277 | 12,547 | 12,579 | 12,542 | 12,546 | 12,655 | 12,679 | 12,539 | 12,452 | 12,411 | 12,314 | 12,470 | 12,652 | 12,744 | 12,726 | 12,602 | 12,659 | 12,666 | 12,769 | 12,581 | 12,502 | 12,444 | 12,227 | 12,299 | 12,082 | 11,854 | 11,862 | 11,868 | 11,833 | 11,896 | 11,595 | 11,570 | 11,426 | 11,227 | 11,224 | 11,013 | 11,019 | 10,903 | 10,707 | 10,643 | 10,728 | 10,797 | 10,728 | 10,726 | 10,739 | 10,663 | 10,743 | 10,674 | 10,777 | 10,902 | 10,852 | 10,866 | 10,860 | 10,912 | 10,815 | 10,769 | 10,779 | 10,697 | 10,615 | 10,621 | 10,550 | 10,529 | 10,514 | 10,769 | 10,852 | 10,859 | 10,871 | 10,803 | 10,612 | 10,609 | 10,569 | 10,473 | 10,399 | 10,258 | 10,291 | 10,318 | 10,316 | 10,247 | 10,262 | 10,191 | 10,303 | 10,328 | 10,365 | 10,318 | 10,415 | 10,202 | 10,192 | 10,120 | 10,022 | 10,090 | 9,980 | 10,005 | 10,000 |
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $11,572 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 11,572 | 11,517 | 11,468 | 11,417 | 11,370 | 11,322 | 11,269 | 11,219 | 11,169 | 11,118 | 11,068 | 11,024 | 10,974 | 10,931 | 10,897 | 10,850 | 10,815 | 10,781 | 10,742 | 10,708 | 10,691 | 10,664 | 10,647 | 10,642 | 10,639 | 10,632 | 10,631 | 10,627 | 10,626 | 10,627 | 10,626 | 10,625 | 10,625 | 10,625 | 10,624 | 10,624 | 10,624 | 10,624 | 10,624 | 10,623 | 10,622 | 10,621 | 10,620 | 10,619 | 10,618 | 10,617 | 10,616 | 10,614 | 10,612 | 10,612 | 10,611 | 10,581 | 10,565 | 10,551 | 10,536 | 10,523 | 10,503 | 10,484 | 10,463 | 10,443 | 10,421 | 10,397 | 10,377 | 10,354 | 10,336 | 10,316 | 10,297 | 10,276 | 10,257 | 10,242 | 10,224 | 10,207 | 10,191 | 10,175 | 10,161 | 10,147 | 10,138 | 10,125 | 10,115 | 10,106 | 10,097 | 10,088 | 10,079 | 10,070 | 10,062 | 10,057 | 10,050 | 10,048 | 10,044 | 10,040 | 10,036 | 10,034 | 10,031 | 10,026 | 10,025 | 10,022 | 10,018 | 10,017 | 10,015 | 10,010 | 10,007 | 10,007 | 10,004 | 10,003 | 10,004 | 10,004 | 10,002 | 10,003 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,001 | 10,001 | 10,001 | 10,000 | 10,000 |
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $11,329 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 11,329 | 11,140 | 11,429 | 11,324 | 11,487 | 11,518 | 11,094 | 10,613 | 10,783 | 11,064 | 11,135 | 11,143 | 11,183 | 11,306 | 11,238 | 10,960 | 11,251 | 10,915 | 10,964 | 10,575 | 10,714 | 11,198 | 11,523 | 11,249 | 11,428 | 11,355 | 11,803 | 12,140 | 12,277 | 12,547 | 12,579 | 12,542 | 12,546 | 12,655 | 12,679 | 12,539 | 12,452 | 12,411 | 12,314 | 12,470 | 12,652 | 12,744 | 12,726 | 12,602 | 12,659 | 12,666 | 12,769 | 12,581 | 12,502 | 12,444 | 12,227 | 12,299 | 12,082 | 11,854 | 11,862 | 11,868 | 11,833 | 11,896 | 11,595 | 11,570 | 11,426 | 11,227 | 11,224 | 11,013 | 11,019 | 10,903 | 10,707 | 10,643 | 10,728 | 10,797 | 10,728 | 10,726 | 10,739 | 10,663 | 10,743 | 10,674 | 10,777 | 10,902 | 10,852 | 10,866 | 10,860 | 10,912 | 10,815 | 10,769 | 10,779 | 10,697 | 10,615 | 10,621 | 10,550 | 10,529 | 10,514 | 10,769 | 10,852 | 10,859 | 10,871 | 10,803 | 10,612 | 10,609 | 10,569 | 10,473 | 10,399 | 10,258 | 10,291 | 10,318 | 10,316 | 10,247 | 10,262 | 10,191 | 10,303 | 10,328 | 10,365 | 10,318 | 10,415 | 10,202 | 10,192 | 10,120 | 10,022 | 10,090 | 9,980 | 10,005 | 10,000 |
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $115,725 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 115,725 | 115,172 | 114,681 | 114,167 | 113,702 | 113,218 | 112,693 | 112,189 | 111,690 | 111,180 | 110,681 | 110,242 | 109,740 | 109,312 | 108,968 | 108,501 | 108,149 | 107,811 | 107,422 | 107,077 | 106,909 | 106,644 | 106,472 | 106,417 | 106,394 | 106,322 | 106,306 | 106,274 | 106,259 | 106,265 | 106,256 | 106,251 | 106,255 | 106,249 | 106,245 | 106,239 | 106,243 | 106,240 | 106,239 | 106,232 | 106,222 | 106,213 | 106,201 | 106,191 | 106,179 | 106,168 | 106,159 | 106,139 | 106,124 | 106,123 | 106,114 | 105,805 | 105,650 | 105,508 | 105,356 | 105,227 | 105,025 | 104,839 | 104,628 | 104,430 | 104,207 | 103,969 | 103,766 | 103,543 | 103,359 | 103,156 | 102,967 | 102,755 | 102,571 | 102,420 | 102,236 | 102,074 | 101,906 | 101,750 | 101,611 | 101,475 | 101,379 | 101,254 | 101,146 | 101,062 | 100,972 | 100,885 | 100,790 | 100,705 | 100,621 | 100,566 | 100,502 | 100,484 | 100,442 | 100,397 | 100,355 | 100,338 | 100,313 | 100,264 | 100,245 | 100,218 | 100,180 | 100,171 | 100,145 | 100,099 | 100,074 | 100,071 | 100,038 | 100,032 | 100,039 | 100,038 | 100,022 | 100,028 | 100,025 | 100,023 | 100,022 | 100,022 | 100,022 | 100,019 | 100,017 | 100,016 | 100,015 | 100,012 | 100,007 | 100,004 | 100,000 |
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $11,572 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 11,572 | 11,517 | 11,468 | 11,417 | 11,370 | 11,322 | 11,269 | 11,219 | 11,169 | 11,118 | 11,068 | 11,024 | 10,974 | 10,931 | 10,897 | 10,850 | 10,815 | 10,781 | 10,742 | 10,708 | 10,691 | 10,664 | 10,647 | 10,642 | 10,639 | 10,632 | 10,631 | 10,627 | 10,626 | 10,627 | 10,626 | 10,625 | 10,625 | 10,625 | 10,624 | 10,624 | 10,624 | 10,624 | 10,624 | 10,623 | 10,622 | 10,621 | 10,620 | 10,619 | 10,618 | 10,617 | 10,616 | 10,614 | 10,612 | 10,612 | 10,611 | 10,581 | 10,565 | 10,551 | 10,536 | 10,523 | 10,503 | 10,484 | 10,463 | 10,443 | 10,421 | 10,397 | 10,377 | 10,354 | 10,336 | 10,316 | 10,297 | 10,276 | 10,257 | 10,242 | 10,224 | 10,207 | 10,191 | 10,175 | 10,161 | 10,147 | 10,138 | 10,125 | 10,115 | 10,106 | 10,097 | 10,088 | 10,079 | 10,070 | 10,062 | 10,057 | 10,050 | 10,048 | 10,044 | 10,040 | 10,036 | 10,034 | 10,031 | 10,026 | 10,025 | 10,022 | 10,018 | 10,017 | 10,015 | 10,010 | 10,007 | 10,007 | 10,004 | 10,003 | 10,004 | 10,004 | 10,002 | 10,003 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,001 | 10,001 | 10,001 | 10,000 | 10,000 |
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $11,329 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 11,329 | 11,140 | 11,429 | 11,324 | 11,487 | 11,518 | 11,094 | 10,613 | 10,783 | 11,064 | 11,135 | 11,143 | 11,183 | 11,306 | 11,238 | 10,960 | 11,251 | 10,915 | 10,964 | 10,575 | 10,714 | 11,198 | 11,523 | 11,249 | 11,428 | 11,355 | 11,803 | 12,140 | 12,277 | 12,547 | 12,579 | 12,542 | 12,546 | 12,655 | 12,679 | 12,539 | 12,452 | 12,411 | 12,314 | 12,470 | 12,652 | 12,744 | 12,726 | 12,602 | 12,659 | 12,666 | 12,769 | 12,581 | 12,502 | 12,444 | 12,227 | 12,299 | 12,082 | 11,854 | 11,862 | 11,868 | 11,833 | 11,896 | 11,595 | 11,570 | 11,426 | 11,227 | 11,224 | 11,013 | 11,019 | 10,903 | 10,707 | 10,643 | 10,728 | 10,797 | 10,728 | 10,726 | 10,739 | 10,663 | 10,743 | 10,674 | 10,777 | 10,902 | 10,852 | 10,866 | 10,860 | 10,912 | 10,815 | 10,769 | 10,779 | 10,697 | 10,615 | 10,621 | 10,550 | 10,529 | 10,514 | 10,769 | 10,852 | 10,859 | 10,871 | 10,803 | 10,612 | 10,609 | 10,569 | 10,473 | 10,399 | 10,258 | 10,291 | 10,318 | 10,316 | 10,247 | 10,262 | 10,191 | 10,303 | 10,328 | 10,365 | 10,318 | 10,415 | 10,202 | 10,192 | 10,120 | 10,022 | 10,090 | 9,980 | 10,005 | 10,000 |
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $11,572 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 11,572 | 11,517 | 11,468 | 11,417 | 11,370 | 11,322 | 11,269 | 11,219 | 11,169 | 11,118 | 11,068 | 11,024 | 10,974 | 10,931 | 10,897 | 10,850 | 10,815 | 10,781 | 10,742 | 10,708 | 10,691 | 10,664 | 10,647 | 10,642 | 10,639 | 10,632 | 10,631 | 10,627 | 10,626 | 10,627 | 10,626 | 10,625 | 10,625 | 10,625 | 10,624 | 10,624 | 10,624 | 10,624 | 10,624 | 10,623 | 10,622 | 10,621 | 10,620 | 10,619 | 10,618 | 10,617 | 10,616 | 10,614 | 10,612 | 10,612 | 10,611 | 10,581 | 10,565 | 10,551 | 10,536 | 10,523 | 10,503 | 10,484 | 10,463 | 10,443 | 10,421 | 10,397 | 10,377 | 10,354 | 10,336 | 10,316 | 10,297 | 10,276 | 10,257 | 10,242 | 10,224 | 10,207 | 10,191 | 10,175 | 10,161 | 10,147 | 10,138 | 10,125 | 10,115 | 10,106 | 10,097 | 10,088 | 10,079 | 10,070 | 10,062 | 10,057 | 10,050 | 10,048 | 10,044 | 10,040 | 10,036 | 10,034 | 10,031 | 10,026 | 10,025 | 10,022 | 10,018 | 10,017 | 10,015 | 10,010 | 10,007 | 10,007 | 10,004 | 10,003 | 10,004 | 10,004 | 10,002 | 10,003 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,001 | 10,001 | 10,001 | 10,000 | 10,000 |
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $11,329 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 11,329 | 11,140 | 11,429 | 11,324 | 11,487 | 11,518 | 11,094 | 10,613 | 10,783 | 11,064 | 11,135 | 11,143 | 11,183 | 11,306 | 11,238 | 10,960 | 11,251 | 10,915 | 10,964 | 10,575 | 10,714 | 11,198 | 11,523 | 11,249 | 11,428 | 11,355 | 11,803 | 12,140 | 12,277 | 12,547 | 12,579 | 12,542 | 12,546 | 12,655 | 12,679 | 12,539 | 12,452 | 12,411 | 12,314 | 12,470 | 12,652 | 12,744 | 12,726 | 12,602 | 12,659 | 12,666 | 12,769 | 12,581 | 12,502 | 12,444 | 12,227 | 12,299 | 12,082 | 11,854 | 11,862 | 11,868 | 11,833 | 11,896 | 11,595 | 11,570 | 11,426 | 11,227 | 11,224 | 11,013 | 11,019 | 10,903 | 10,707 | 10,643 | 10,728 | 10,797 | 10,728 | 10,726 | 10,739 | 10,663 | 10,743 | 10,674 | 10,777 | 10,902 | 10,852 | 10,866 | 10,860 | 10,912 | 10,815 | 10,769 | 10,779 | 10,697 | 10,615 | 10,621 | 10,550 | 10,529 | 10,514 | 10,769 | 10,852 | 10,859 | 10,871 | 10,803 | 10,612 | 10,609 | 10,569 | 10,473 | 10,399 | 10,258 | 10,291 | 10,318 | 10,316 | 10,247 | 10,262 | 10,191 | 10,303 | 10,328 | 10,365 | 10,318 | 10,415 | 10,202 | 10,192 | 10,120 | 10,022 | 10,090 | 9,980 | 10,005 | 10,000 |
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $11,572 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 11,572 | 11,517 | 11,468 | 11,417 | 11,370 | 11,322 | 11,269 | 11,219 | 11,169 | 11,118 | 11,068 | 11,024 | 10,974 | 10,931 | 10,897 | 10,850 | 10,815 | 10,781 | 10,742 | 10,708 | 10,691 | 10,664 | 10,647 | 10,642 | 10,639 | 10,632 | 10,631 | 10,627 | 10,626 | 10,627 | 10,626 | 10,625 | 10,625 | 10,625 | 10,624 | 10,624 | 10,624 | 10,624 | 10,624 | 10,623 | 10,622 | 10,621 | 10,620 | 10,619 | 10,618 | 10,617 | 10,616 | 10,614 | 10,612 | 10,612 | 10,611 | 10,581 | 10,565 | 10,551 | 10,536 | 10,523 | 10,503 | 10,484 | 10,463 | 10,443 | 10,421 | 10,397 | 10,377 | 10,354 | 10,336 | 10,316 | 10,297 | 10,276 | 10,257 | 10,242 | 10,224 | 10,207 | 10,191 | 10,175 | 10,161 | 10,147 | 10,138 | 10,125 | 10,115 | 10,106 | 10,097 | 10,088 | 10,079 | 10,070 | 10,062 | 10,057 | 10,050 | 10,048 | 10,044 | 10,040 | 10,036 | 10,034 | 10,031 | 10,026 | 10,025 | 10,022 | 10,018 | 10,017 | 10,015 | 10,010 | 10,007 | 10,007 | 10,004 | 10,003 | 10,004 | 10,004 | 10,002 | 10,003 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,001 | 10,001 | 10,001 | 10,000 | 10,000 |
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $115,725 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 115,725 | 115,172 | 114,681 | 114,167 | 113,702 | 113,218 | 112,693 | 112,189 | 111,690 | 111,180 | 110,681 | 110,242 | 109,740 | 109,312 | 108,968 | 108,501 | 108,149 | 107,811 | 107,422 | 107,077 | 106,909 | 106,644 | 106,472 | 106,417 | 106,394 | 106,322 | 106,306 | 106,274 | 106,259 | 106,265 | 106,256 | 106,251 | 106,255 | 106,249 | 106,245 | 106,239 | 106,243 | 106,240 | 106,239 | 106,232 | 106,222 | 106,213 | 106,201 | 106,191 | 106,179 | 106,168 | 106,159 | 106,139 | 106,124 | 106,123 | 106,114 | 105,805 | 105,650 | 105,508 | 105,356 | 105,227 | 105,025 | 104,839 | 104,628 | 104,430 | 104,207 | 103,969 | 103,766 | 103,543 | 103,359 | 103,156 | 102,967 | 102,755 | 102,571 | 102,420 | 102,236 | 102,074 | 101,906 | 101,750 | 101,611 | 101,475 | 101,379 | 101,254 | 101,146 | 101,062 | 100,972 | 100,885 | 100,790 | 100,705 | 100,621 | 100,566 | 100,502 | 100,484 | 100,442 | 100,397 | 100,355 | 100,338 | 100,313 | 100,264 | 100,245 | 100,218 | 100,180 | 100,171 | 100,145 | 100,099 | 100,074 | 100,071 | 100,038 | 100,032 | 100,039 | 100,038 | 100,022 | 100,028 | 100,025 | 100,023 | 100,022 | 100,022 | 100,022 | 100,019 | 100,017 | 100,016 | 100,015 | 100,012 | 100,007 | 100,004 | 100,000 |
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $113,290 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 113,290 | 111,402 | 114,289 | 113,243 | 114,866 | 115,182 | 110,935 | 106,129 | 107,831 | 110,643 | 111,354 | 111,431 | 111,830 | 113,062 | 112,380 | 109,597 | 112,505 | 109,147 | 109,642 | 105,753 | 107,141 | 111,979 | 115,235 | 112,486 | 114,279 | 113,547 | 118,026 | 121,399 | 122,768 | 125,472 | 125,793 | 125,422 | 125,457 | 126,553 | 126,794 | 125,392 | 124,517 | 124,111 | 123,139 | 124,696 | 126,523 | 127,436 | 127,261 | 126,025 | 126,590 | 126,659 | 127,690 | 125,811 | 125,023 | 124,444 | 122,270 | 122,994 | 120,820 | 118,538 | 118,621 | 118,682 | 118,325 | 118,959 | 115,954 | 115,699 | 114,265 | 112,272 | 112,243 | 110,128 | 110,192 | 109,034 | 107,067 | 106,432 | 107,280 | 107,975 | 107,284 | 107,259 | 107,391 | 106,630 | 107,429 | 106,745 | 107,766 | 109,022 | 108,524 | 108,663 | 108,600 | 109,120 | 108,150 | 107,687 | 107,795 | 106,972 | 106,152 | 106,208 | 105,499 | 105,292 | 105,144 | 107,691 | 108,521 | 108,585 | 108,710 | 108,027 | 106,120 | 106,093 | 105,687 | 104,726 | 103,988 | 102,577 | 102,909 | 103,182 | 103,165 | 102,471 | 102,619 | 101,910 | 103,034 | 103,283 | 103,655 | 103,176 | 104,155 | 102,016 | 101,921 | 101,202 | 100,217 | 100,902 | 99,801 | 100,052 | 100,000 |
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $11,572 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 11,572 | 11,517 | 11,468 | 11,417 | 11,370 | 11,322 | 11,269 | 11,219 | 11,169 | 11,118 | 11,068 | 11,024 | 10,974 | 10,931 | 10,897 | 10,850 | 10,815 | 10,781 | 10,742 | 10,708 | 10,691 | 10,664 | 10,647 | 10,642 | 10,639 | 10,632 | 10,631 | 10,627 | 10,626 | 10,627 | 10,626 | 10,625 | 10,625 | 10,625 | 10,624 | 10,624 | 10,624 | 10,624 | 10,624 | 10,623 | 10,622 | 10,621 | 10,620 | 10,619 | 10,618 | 10,617 | 10,616 | 10,614 | 10,612 | 10,612 | 10,611 | 10,581 | 10,565 | 10,551 | 10,536 | 10,523 | 10,503 | 10,484 | 10,463 | 10,443 | 10,421 | 10,397 | 10,377 | 10,354 | 10,336 | 10,316 | 10,297 | 10,276 | 10,257 | 10,242 | 10,224 | 10,207 | 10,191 | 10,175 | 10,161 | 10,147 | 10,138 | 10,125 | 10,115 | 10,106 | 10,097 | 10,088 | 10,079 | 10,070 | 10,062 | 10,057 | 10,050 | 10,048 | 10,044 | 10,040 | 10,036 | 10,034 | 10,031 | 10,026 | 10,025 | 10,022 | 10,018 | 10,017 | 10,015 | 10,010 | 10,007 | 10,007 | 10,004 | 10,003 | 10,004 | 10,004 | 10,002 | 10,003 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,001 | 10,001 | 10,001 | 10,000 | 10,000 |
WATER ISLAND INDEX: S&P 500® | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | ®</sup> Index $330,280" id="sjs-B126">S&P 500<sup style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 12px; font-weight: 700; grid-area: auto; line-height: 0px; margin: 0px; overflow: visible; position: relative; text-align: center; height: auto; max-height: none; min-height: 0px;">®</sup> Index $330,280 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 330,280 | 314,677 | 328,077 | 317,850 | 301,739 | 296,752 | 283,856 | 260,102 | 265,689 | 278,991 | 283,504 | 274,680 | 257,656 | 256,541 | 252,598 | 243,652 | 249,746 | 234,981 | 249,347 | 236,150 | 218,463 | 240,624 | 250,855 | 229,677 | 250,341 | 249,883 | 273,755 | 263,954 | 272,102 | 286,950 | 274,642 | 276,558 | 258,451 | 271,058 | 263,059 | 256,955 | 251,093 | 249,352 | 236,718 | 226,786 | 220,700 | 222,951 | 214,697 | 193,514 | 198,801 | 206,653 | 192,795 | 182,504 | 178,945 | 170,810 | 151,401 | 172,736 | 188,232 | 188,305 | 182,788 | 176,386 | 172,646 | 169,475 | 172,203 | 169,763 | 158,587 | 169,348 | 162,758 | 159,656 | 154,689 | 143,213 | 157,427 | 154,283 | 165,602 | 164,665 | 159,468 | 153,747 | 152,806 | 149,213 | 148,643 | 152,519 | 158,355 | 149,780 | 148,133 | 143,725 | 140,447 | 137,609 | 137,189 | 134,425 | 133,591 | 131,737 | 130,398 | 130,246 | 125,272 | 122,940 | 120,557 | 116,252 | 118,412 | 118,389 | 118,223 | 114,019 | 113,725 | 111,719 | 111,287 | 104,217 | 104,358 | 109,807 | 111,567 | 111,236 | 102,583 | 105,185 | 111,939 | 109,642 | 111,806 | 110,387 | 109,338 | 111,095 | 105,057 | 108,308 | 108,582 | 105,738 | 103,217 | 104,685 | 100,658 | 102,066 | 100,000 |
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $115,725 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 115,725 | 115,172 | 114,681 | 114,167 | 113,702 | 113,218 | 112,693 | 112,189 | 111,690 | 111,180 | 110,681 | 110,242 | 109,740 | 109,312 | 108,968 | 108,501 | 108,149 | 107,811 | 107,422 | 107,077 | 106,909 | 106,644 | 106,472 | 106,417 | 106,394 | 106,322 | 106,306 | 106,274 | 106,259 | 106,265 | 106,256 | 106,251 | 106,255 | 106,249 | 106,245 | 106,239 | 106,243 | 106,240 | 106,239 | 106,232 | 106,222 | 106,213 | 106,201 | 106,191 | 106,179 | 106,168 | 106,159 | 106,139 | 106,124 | 106,123 | 106,114 | 105,805 | 105,650 | 105,508 | 105,356 | 105,227 | 105,025 | 104,839 | 104,628 | 104,430 | 104,207 | 103,969 | 103,766 | 103,543 | 103,359 | 103,156 | 102,967 | 102,755 | 102,571 | 102,420 | 102,236 | 102,074 | 101,906 | 101,750 | 101,611 | 101,475 | 101,379 | 101,254 | 101,146 | 101,062 | 100,972 | 100,885 | 100,790 | 100,705 | 100,621 | 100,566 | 100,502 | 100,484 | 100,442 | 100,397 | 100,355 | 100,338 | 100,313 | 100,264 | 100,245 | 100,218 | 100,180 | 100,171 | 100,145 | 100,099 | 100,074 | 100,071 | 100,038 | 100,032 | 100,039 | 100,038 | 100,022 | 100,028 | 100,025 | 100,023 | 100,022 | 100,022 | 100,022 | 100,019 | 100,017 | 100,016 | 100,015 | 100,012 | 100,007 | 100,004 | 100,000 |
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $113,290 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 113,290 | 111,402 | 114,289 | 113,243 | 114,866 | 115,182 | 110,935 | 106,129 | 107,831 | 110,643 | 111,354 | 111,431 | 111,830 | 113,062 | 112,380 | 109,597 | 112,505 | 109,147 | 109,642 | 105,753 | 107,141 | 111,979 | 115,235 | 112,486 | 114,279 | 113,547 | 118,026 | 121,399 | 122,768 | 125,472 | 125,793 | 125,422 | 125,457 | 126,553 | 126,794 | 125,392 | 124,517 | 124,111 | 123,139 | 124,696 | 126,523 | 127,436 | 127,261 | 126,025 | 126,590 | 126,659 | 127,690 | 125,811 | 125,023 | 124,444 | 122,270 | 122,994 | 120,820 | 118,538 | 118,621 | 118,682 | 118,325 | 118,959 | 115,954 | 115,699 | 114,265 | 112,272 | 112,243 | 110,128 | 110,192 | 109,034 | 107,067 | 106,432 | 107,280 | 107,975 | 107,284 | 107,259 | 107,391 | 106,630 | 107,429 | 106,745 | 107,766 | 109,022 | 108,524 | 108,663 | 108,600 | 109,120 | 108,150 | 107,687 | 107,795 | 106,972 | 106,152 | 106,208 | 105,499 | 105,292 | 105,144 | 107,691 | 108,521 | 108,585 | 108,710 | 108,027 | 106,120 | 106,093 | 105,687 | 104,726 | 103,988 | 102,577 | 102,909 | 103,182 | 103,165 | 102,471 | 102,619 | 101,910 | 103,034 | 103,283 | 103,655 | 103,176 | 104,155 | 102,016 | 101,921 | 101,202 | 100,217 | 100,902 | 99,801 | 100,052 | 100,000 |
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $11,572 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 11,572 | 11,517 | 11,468 | 11,417 | 11,370 | 11,322 | 11,269 | 11,219 | 11,169 | 11,118 | 11,068 | 11,024 | 10,974 | 10,931 | 10,897 | 10,850 | 10,815 | 10,781 | 10,742 | 10,708 | 10,691 | 10,664 | 10,647 | 10,642 | 10,639 | 10,632 | 10,631 | 10,627 | 10,626 | 10,627 | 10,626 | 10,625 | 10,625 | 10,625 | 10,624 | 10,624 | 10,624 | 10,624 | 10,624 | 10,623 | 10,622 | 10,621 | 10,620 | 10,619 | 10,618 | 10,617 | 10,616 | 10,614 | 10,612 | 10,612 | 10,611 | 10,581 | 10,565 | 10,551 | 10,536 | 10,523 | 10,503 | 10,484 | 10,463 | 10,443 | 10,421 | 10,397 | 10,377 | 10,354 | 10,336 | 10,316 | 10,297 | 10,276 | 10,257 | 10,242 | 10,224 | 10,207 | 10,191 | 10,175 | 10,161 | 10,147 | 10,138 | 10,125 | 10,115 | 10,106 | 10,097 | 10,088 | 10,079 | 10,070 | 10,062 | 10,057 | 10,050 | 10,048 | 10,044 | 10,040 | 10,036 | 10,034 | 10,031 | 10,026 | 10,025 | 10,022 | 10,018 | 10,017 | 10,015 | 10,010 | 10,007 | 10,007 | 10,004 | 10,003 | 10,004 | 10,004 | 10,002 | 10,003 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,002 | 10,001 | 10,001 | 10,001 | 10,000 | 10,000 |
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $11,329 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Account Value | $ 11,329 | $ 11,140 | $ 11,429 | $ 11,324 | $ 11,487 | $ 11,518 | $ 11,094 | $ 10,613 | $ 10,783 | $ 11,064 | $ 11,135 | $ 11,143 | $ 11,183 | $ 11,306 | $ 11,238 | $ 10,960 | $ 11,251 | $ 10,915 | $ 10,964 | $ 10,575 | $ 10,714 | $ 11,198 | $ 11,523 | $ 11,249 | $ 11,428 | $ 11,355 | $ 11,803 | $ 12,140 | $ 12,277 | $ 12,547 | $ 12,579 | $ 12,542 | $ 12,546 | $ 12,655 | $ 12,679 | $ 12,539 | $ 12,452 | $ 12,411 | $ 12,314 | $ 12,470 | $ 12,652 | $ 12,744 | $ 12,726 | $ 12,602 | $ 12,659 | $ 12,666 | $ 12,769 | $ 12,581 | $ 12,502 | $ 12,444 | $ 12,227 | $ 12,299 | $ 12,082 | $ 11,854 | $ 11,862 | $ 11,868 | $ 11,833 | $ 11,896 | $ 11,595 | $ 11,570 | $ 11,426 | $ 11,227 | $ 11,224 | $ 11,013 | $ 11,019 | $ 10,903 | $ 10,707 | $ 10,643 | $ 10,728 | $ 10,797 | $ 10,728 | $ 10,726 | $ 10,739 | $ 10,663 | $ 10,743 | $ 10,674 | $ 10,777 | $ 10,902 | $ 10,852 | $ 10,866 | $ 10,860 | $ 10,912 | $ 10,815 | $ 10,769 | $ 10,779 | $ 10,697 | $ 10,615 | $ 10,621 | $ 10,550 | $ 10,529 | $ 10,514 | $ 10,769 | $ 10,852 | $ 10,859 | $ 10,871 | $ 10,803 | $ 10,612 | $ 10,609 | $ 10,569 | $ 10,473 | $ 10,399 | $ 10,258 | $ 10,291 | $ 10,318 | $ 10,316 | $ 10,247 | $ 10,262 | $ 10,191 | $ 10,303 | $ 10,328 | $ 10,365 | $ 10,318 | $ 10,415 | $ 10,202 | $ 10,192 | $ 10,120 | $ 10,022 | $ 10,090 | $ 9,980 | $ 10,005 | $ 10,000 |
Shareholder Report, Average Ann
Shareholder Report, Average Annual Return (Details) | 12 Months Ended | 60 Months Ended | 120 Months Ended |
May 31, 2024 | May 31, 2024 | May 31, 2024 | |
C000092484 | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Class R | ||
C000127229 | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Class A | ||
C000120978 | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Class I | ||
C000115401 | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Class C | ||
C000017637 | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Class R | ||
C000120977 | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Class R | ||
C000092485 | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Class I | ||
C000127230 | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Class A | ||
C000017638 | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Class I | ||
C000127228 | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Class A | ||
Without Sales Load [Member] | C000092484 | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 6.77% | 3.90% | 1.75% |
Without Sales Load [Member] | C000127229 | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 6.75% | 3.91% | 1.74% |
Without Sales Load [Member] | C000120978 | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 6.23% | 3.72% | 2.81% |
Without Sales Load [Member] | C000115401 | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 6.70% | 1.79% | 1.67% |
Without Sales Load [Member] | C000017637 | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 7.55% | 2.57% | 2.44% |
Without Sales Load [Member] | C000120977 | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 5.96% | 3.45% | 2.55% |
Without Sales Load [Member] | C000092485 | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 7.03% | 4.18% | 2% |
Without Sales Load [Member] | C000127230 | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 5.96% | 3.48% | 2.56% |
Without Sales Load [Member] | C000017638 | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 7.76% | 2.82% | 2.68% |
Without Sales Load [Member] | C000127228 | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 7.49% | 2.55% | 2.42% |
WATER ISLAND INDEX: S&P 500® | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | ®</sup> Index $33,028" id="sjs-B65">S&P 500<sup style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 12px; font-weight: 700; grid-area: auto; line-height: 0px; margin: 0px; overflow: visible; position: relative; text-align: center; height: auto; max-height: none; min-height: 0px;">®</sup> Index $33,028 | ||
Average Annual Return, Percent | 28.19% | 15.80% | 12.69% |
WATER ISLAND INDEX: S&P 500® | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | ®</sup> Index $33,028" id="sjs-B69">S&P 500<sup style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 12px; font-weight: 700; grid-area: auto; line-height: 0px; margin: 0px; overflow: visible; position: relative; text-align: center; height: auto; max-height: none; min-height: 0px;">®</sup> Index $33,028 | ||
Average Annual Return, Percent | 28.19% | 15.80% | 12.69% |
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $113,290 | ||
Average Annual Return, Percent | 1.31% | (0.17%) | 1.26% |
WATER ISLAND INDEX: S&P 500® | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | ®</sup> Index $33,028" id="sjs-B77">S&P 500<sup style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 12px; font-weight: 700; grid-area: auto; line-height: 0px; margin: 0px; overflow: visible; position: relative; text-align: center; height: auto; max-height: none; min-height: 0px;">®</sup> Index $33,028 | ||
Average Annual Return, Percent | 28.19% | 15.80% | 12.69% |
WATER ISLAND INDEX: S&P 500® | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | ®</sup> Index $33,028" id="sjs-B81">S&P 500<sup style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 12px; font-weight: 700; grid-area: auto; line-height: 0px; margin: 0px; overflow: visible; position: relative; text-align: center; height: auto; max-height: none; min-height: 0px;">®</sup> Index $33,028 | ||
Average Annual Return, Percent | 28.19% | 15.80% | 12.69% |
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $11,329 | ||
Average Annual Return, Percent | 1.31% | (0.17%) | 1.26% |
WATER ISLAND INDEX: S&P 500® | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | ®</sup> Index $330,280" id="sjs-B89">S&P 500<sup style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 12px; font-weight: 700; grid-area: auto; line-height: 0px; margin: 0px; overflow: visible; position: relative; text-align: center; height: auto; max-height: none; min-height: 0px;">®</sup> Index $330,280 | ||
Average Annual Return, Percent | 28.19% | 15.80% | 12.69% |
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $11,329 | ||
Average Annual Return, Percent | 1.31% | (0.17%) | 1.26% |
WATER ISLAND INDEX: S&P 500® | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | ®</sup> Index $33,028" id="sjs-B97">S&P 500<sup style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 12px; font-weight: 700; grid-area: auto; line-height: 0px; margin: 0px; overflow: visible; position: relative; text-align: center; height: auto; max-height: none; min-height: 0px;">®</sup> Index $33,028 | ||
Average Annual Return, Percent | 28.19% | 15.80% | 12.69% |
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $11,572 | ||
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $11,329 | ||
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $11,572 | ||
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $11,329 | ||
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $115,725 | ||
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $11,572 | ||
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $11,329 | ||
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $11,572 | ||
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $11,329 | ||
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $11,572 | ||
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $115,725 | ||
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $113,290 | ||
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $11,572 | ||
WATER ISLAND INDEX: S&P 500® | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | ®</sup> Index $330,280" id="sjs-B140">S&P 500<sup style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 12px; font-weight: 700; grid-area: auto; line-height: 0px; margin: 0px; overflow: visible; position: relative; text-align: center; height: auto; max-height: none; min-height: 0px;">®</sup> Index $330,280 | ||
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $115,725 | ||
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $113,290 | ||
WATER ISLAND INDEX: ICE BOFAML 3-MONTH TREASURY BILL | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | ICE BofA U.S. 3-Month Treasury Bill Index $11,572 | ||
WATER ISLAND INDEX: BLOOMBERG US AGGREGATE BOND INDEX | |||
Average Annual Return [Line Items] | |||
Line Graph and Table Measure Name | Bloomberg U.S. Aggregate Bond Index $11,329 |
Shareholder Report, Holdings (D
Shareholder Report, Holdings (Details) | May 31, 2024 |
C000092484 | Americas | |
Holdings [Line Items] | |
Percent of Total Investments | 90.26% |
C000092484 | EMEA | |
Holdings [Line Items] | |
Percent of Total Investments | 9.74% |
C000092484 | Consumer, Non-cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 34.50% |
C000092484 | Technology | |
Holdings [Line Items] | |
Percent of Total Investments | 16.88% |
C000092484 | Energy | |
Holdings [Line Items] | |
Percent of Total Investments | 16.28% |
C000092484 | Consumer, Cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 10.24% |
C000092484 | Telecommunication Services | |
Holdings [Line Items] | |
Percent of Total Investments | 10.17% |
C000092484 | Financials | |
Holdings [Line Items] | |
Percent of Total Investments | 6.33% |
C000092484 | Materials | |
Holdings [Line Items] | |
Percent of Total Investments | 3.18% |
C000092484 | Utilities | |
Holdings [Line Items] | |
Percent of Total Investments | 1.22% |
C000092484 | Industrials | |
Holdings [Line Items] | |
Percent of Total Investments | 1.20% |
C000127229 | Americas | |
Holdings [Line Items] | |
Percent of Total Investments | 90.26% |
C000127229 | EMEA | |
Holdings [Line Items] | |
Percent of Total Investments | 9.74% |
C000127229 | Consumer, Non-cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 34.50% |
C000127229 | Technology | |
Holdings [Line Items] | |
Percent of Total Investments | 16.88% |
C000127229 | Energy | |
Holdings [Line Items] | |
Percent of Total Investments | 16.28% |
C000127229 | Consumer, Cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 10.24% |
C000127229 | Telecommunication Services | |
Holdings [Line Items] | |
Percent of Total Investments | 10.17% |
C000127229 | Financials | |
Holdings [Line Items] | |
Percent of Total Investments | 6.33% |
C000127229 | Materials | |
Holdings [Line Items] | |
Percent of Total Investments | 3.18% |
C000127229 | Utilities | |
Holdings [Line Items] | |
Percent of Total Investments | 1.22% |
C000127229 | Industrials | |
Holdings [Line Items] | |
Percent of Total Investments | 1.20% |
C000120978 | Americas | |
Holdings [Line Items] | |
Percent of Total Investments | 91.68% |
C000120978 | EMEA | |
Holdings [Line Items] | |
Percent of Total Investments | 8.32% |
C000120978 | Consumer, Non-cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 16.06% |
C000120978 | Technology | |
Holdings [Line Items] | |
Percent of Total Investments | 27.83% |
C000120978 | Energy | |
Holdings [Line Items] | |
Percent of Total Investments | 6.80% |
C000120978 | Consumer, Cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 19.03% |
C000120978 | Telecommunication Services | |
Holdings [Line Items] | |
Percent of Total Investments | 18.41% |
C000120978 | Financials | |
Holdings [Line Items] | |
Percent of Total Investments | 2.36% |
C000120978 | Materials | |
Holdings [Line Items] | |
Percent of Total Investments | 1.75% |
C000120978 | Utilities | |
Holdings [Line Items] | |
Percent of Total Investments | 1.85% |
C000120978 | Industrials | |
Holdings [Line Items] | |
Percent of Total Investments | 5.91% |
C000115401 | Americas | |
Holdings [Line Items] | |
Percent of Total Investments | 90.71% |
C000115401 | EMEA | |
Holdings [Line Items] | |
Percent of Total Investments | 9.29% |
C000115401 | Consumer, Non-cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 30.10% |
C000115401 | Technology | |
Holdings [Line Items] | |
Percent of Total Investments | 18.83% |
C000115401 | Energy | |
Holdings [Line Items] | |
Percent of Total Investments | 12.91% |
C000115401 | Consumer, Cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 4.18% |
C000115401 | Telecommunication Services | |
Holdings [Line Items] | |
Percent of Total Investments | 11.14% |
C000115401 | Financials | |
Holdings [Line Items] | |
Percent of Total Investments | 4.80% |
C000115401 | Materials | |
Holdings [Line Items] | |
Percent of Total Investments | 4.56% |
C000115401 | Utilities | |
Holdings [Line Items] | |
Percent of Total Investments | 3.19% |
C000115401 | Industrials | |
Holdings [Line Items] | |
Percent of Total Investments | 4.17% |
C000115401 | Funds | |
Holdings [Line Items] | |
Percent of Total Investments | 6.12% |
C000017637 | Americas | |
Holdings [Line Items] | |
Percent of Total Investments | 90.71% |
C000017637 | EMEA | |
Holdings [Line Items] | |
Percent of Total Investments | 9.29% |
C000017637 | Consumer, Non-cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 30.10% |
C000017637 | Technology | |
Holdings [Line Items] | |
Percent of Total Investments | 18.83% |
C000017637 | Energy | |
Holdings [Line Items] | |
Percent of Total Investments | 12.91% |
C000017637 | Consumer, Cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 4.18% |
C000017637 | Telecommunication Services | |
Holdings [Line Items] | |
Percent of Total Investments | 11.14% |
C000017637 | Financials | |
Holdings [Line Items] | |
Percent of Total Investments | 4.80% |
C000017637 | Materials | |
Holdings [Line Items] | |
Percent of Total Investments | 4.56% |
C000017637 | Utilities | |
Holdings [Line Items] | |
Percent of Total Investments | 3.19% |
C000017637 | Industrials | |
Holdings [Line Items] | |
Percent of Total Investments | 4.17% |
C000017637 | Funds | |
Holdings [Line Items] | |
Percent of Total Investments | 6.12% |
C000120977 | Americas | |
Holdings [Line Items] | |
Percent of Total Investments | 91.68% |
C000120977 | EMEA | |
Holdings [Line Items] | |
Percent of Total Investments | 8.32% |
C000120977 | Consumer, Non-cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 16.06% |
C000120977 | Technology | |
Holdings [Line Items] | |
Percent of Total Investments | 27.83% |
C000120977 | Energy | |
Holdings [Line Items] | |
Percent of Total Investments | 6.80% |
C000120977 | Consumer, Cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 19.03% |
C000120977 | Telecommunication Services | |
Holdings [Line Items] | |
Percent of Total Investments | 18.41% |
C000120977 | Financials | |
Holdings [Line Items] | |
Percent of Total Investments | 2.36% |
C000120977 | Materials | |
Holdings [Line Items] | |
Percent of Total Investments | 1.75% |
C000120977 | Utilities | |
Holdings [Line Items] | |
Percent of Total Investments | 1.85% |
C000120977 | Industrials | |
Holdings [Line Items] | |
Percent of Total Investments | 5.91% |
C000092485 | Americas | |
Holdings [Line Items] | |
Percent of Total Investments | 90.26% |
C000092485 | EMEA | |
Holdings [Line Items] | |
Percent of Total Investments | 9.74% |
C000092485 | Consumer, Non-cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 34.50% |
C000092485 | Technology | |
Holdings [Line Items] | |
Percent of Total Investments | 16.88% |
C000092485 | Energy | |
Holdings [Line Items] | |
Percent of Total Investments | 16.28% |
C000092485 | Consumer, Cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 10.24% |
C000092485 | Telecommunication Services | |
Holdings [Line Items] | |
Percent of Total Investments | 10.17% |
C000092485 | Financials | |
Holdings [Line Items] | |
Percent of Total Investments | 6.33% |
C000092485 | Materials | |
Holdings [Line Items] | |
Percent of Total Investments | 3.18% |
C000092485 | Utilities | |
Holdings [Line Items] | |
Percent of Total Investments | 1.22% |
C000092485 | Industrials | |
Holdings [Line Items] | |
Percent of Total Investments | 1.20% |
C000127230 | Americas | |
Holdings [Line Items] | |
Percent of Total Investments | 91.68% |
C000127230 | EMEA | |
Holdings [Line Items] | |
Percent of Total Investments | 8.32% |
C000127230 | Consumer, Non-cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 16.06% |
C000127230 | Technology | |
Holdings [Line Items] | |
Percent of Total Investments | 27.83% |
C000127230 | Energy | |
Holdings [Line Items] | |
Percent of Total Investments | 6.80% |
C000127230 | Consumer, Cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 19.03% |
C000127230 | Telecommunication Services | |
Holdings [Line Items] | |
Percent of Total Investments | 18.41% |
C000127230 | Financials | |
Holdings [Line Items] | |
Percent of Total Investments | 2.36% |
C000127230 | Materials | |
Holdings [Line Items] | |
Percent of Total Investments | 1.75% |
C000127230 | Utilities | |
Holdings [Line Items] | |
Percent of Total Investments | 1.85% |
C000127230 | Industrials | |
Holdings [Line Items] | |
Percent of Total Investments | 5.91% |
C000017638 | Americas | |
Holdings [Line Items] | |
Percent of Total Investments | 90.71% |
C000017638 | EMEA | |
Holdings [Line Items] | |
Percent of Total Investments | 9.29% |
C000017638 | Consumer, Non-cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 30.10% |
C000017638 | Technology | |
Holdings [Line Items] | |
Percent of Total Investments | 18.83% |
C000017638 | Energy | |
Holdings [Line Items] | |
Percent of Total Investments | 12.91% |
C000017638 | Consumer, Cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 4.18% |
C000017638 | Telecommunication Services | |
Holdings [Line Items] | |
Percent of Total Investments | 11.14% |
C000017638 | Financials | |
Holdings [Line Items] | |
Percent of Total Investments | 4.80% |
C000017638 | Materials | |
Holdings [Line Items] | |
Percent of Total Investments | 4.56% |
C000017638 | Utilities | |
Holdings [Line Items] | |
Percent of Total Investments | 3.19% |
C000017638 | Industrials | |
Holdings [Line Items] | |
Percent of Total Investments | 4.17% |
C000017638 | Funds | |
Holdings [Line Items] | |
Percent of Total Investments | 6.12% |
C000127228 | Americas | |
Holdings [Line Items] | |
Percent of Total Investments | 90.71% |
C000127228 | EMEA | |
Holdings [Line Items] | |
Percent of Total Investments | 9.29% |
C000127228 | Consumer, Non-cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 30.10% |
C000127228 | Technology | |
Holdings [Line Items] | |
Percent of Total Investments | 18.83% |
C000127228 | Energy | |
Holdings [Line Items] | |
Percent of Total Investments | 12.91% |
C000127228 | Consumer, Cyclical | |
Holdings [Line Items] | |
Percent of Total Investments | 4.18% |
C000127228 | Telecommunication Services | |
Holdings [Line Items] | |
Percent of Total Investments | 11.14% |
C000127228 | Financials | |
Holdings [Line Items] | |
Percent of Total Investments | 4.80% |
C000127228 | Materials | |
Holdings [Line Items] | |
Percent of Total Investments | 4.56% |
C000127228 | Utilities | |
Holdings [Line Items] | |
Percent of Total Investments | 3.19% |
C000127228 | Industrials | |
Holdings [Line Items] | |
Percent of Total Investments | 4.17% |
C000127228 | Funds | |
Holdings [Line Items] | |
Percent of Total Investments | 6.12% |