IPAY vs. MNA ETF Comparison

Comparison of ETFMG Prime Mobile Payments ETF (IPAY) to IQ Merger Arbitrage ETF (MNA)

IPAY

ETFMG Prime Mobile Payments ETF

IPAY Description

The ETFMG Prime Mobile Payments ETF (IPAY®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Prime Mobile Payments Index. The index provides a benchmark for investors interested in tracking the mobile and electronic payments industry, speciﬁcally focusing on credit card networks, payment infrastructure and software services, payment processing services, and payment solutions (such as smartcards, prepaid cards, virtual wallets).

Grade (RS Rating)

Last Trade

$53.43

Average Daily Volume

19,051

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MNA

IQ Merger Arbitrage ETF

MNA Description

The investment seeks investment results that correspond generally to the price and yield performance of its underlying index, the IQ Merger Arbitrage Index. The fund employs a "passive management" to track the performance of the underlying index, which was developed by Financial Development Holdco LLC ("IndexIQ"). The underlying index seeks to employ a systematic investment process designed to identify opportunities in companies whose equity securities trade in developed markets, including the U.S., and which are involved in announced mergers, acquisitions and other buyout-related transactions. It is non-diversified.

Grade (RS Rating)

Last Trade

$32.83

Average Daily Volume

52,891

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IPAY	MNA
30 Days	3.92%	-0.36%
60 Days	3.36%	0.31%
90 Days	15.09%	2.05%
12 Months	42.96%	5.88%

1 Overlapping Holdings

	Symbol	Grade	Weight in IPAY	Weight in MNA	Overlap
	DFS	A	4.76%	7.23%	4.76%

IPAY Overweight 26 Positions Relative to MNA

Symbol	Grade	Weight
FI	A	6.56%
PYPL	B	6.32%
MA	B	6.02%
AXP	A	5.98%
V	A	5.96%
TOST	A	5.02%
FIS	B	4.73%
CPAY	B	4.67%
SQ	B	4.59%
AFRM	A	4.42%
COIN	C	4.25%
GPN	D	3.91%
WEX	F	3.2%
FOUR	B	2.9%
ACIW	C	2.17%
QTWO	A	2.04%
EEFT	F	1.98%
WU	F	1.41%
STNE	F	1.4%
MQ	A	0.99%
VYX	F	0.76%
PAGS	F	0.67%
EVTC	D	0.66%
DLO	D	0.36%
GDOT	C	0.3%
IMXI	F	0.28%

IPAY Underweight 43 Positions Relative to MNA

Symbol	Grade	Weight
CTLT	D	-5.72%
JNPR	A	-5.11%
HCP	A	-4.32%
FYBR	A	-3.74%
SHV	A	-3.27%
MRO	C	-3.25%
SMAR	A	-3.2%
SRCL	A	-2.81%
BALY	A	-2.75%
ALE	A	-2.67%
INST	A	-2.62%
ENV	A	-2.57%
K	A	-2.46%
AXNX	A	-2.38%
SPR	C	-2.13%
AY	A	-2.08%
RCM	A	-2.0%
IBTX	B	-1.82%
INFN	B	-1.75%
EVRI	A	-1.58%
SRCL	A	-1.46%
VZIO	C	-1.33%
HTLF	A	-1.08%
FBMS	B	-1.04%
PETQ	A	-0.85%
AGS	A	-0.83%
HAYN	A	-0.75%
PFC	A	-0.55%
GATO	B	-0.51%
RVNC	C	-0.4%
CFB	D	-0.37%
PGRU	A	-0.35%
SRDX	D	-0.26%
CLF	C	--0.26%
BUSE	D	--0.38%
FA	D	--0.46%
WSBC	A	--0.56%
RNST	B	--1.05%
UMBF	A	--1.1%
SSB	B	--1.83%
BA	F	--1.85%
IP	A	--3.56%
COF	A	--7.9%