MNA vs. MRGR ETF Comparison

Comparison of IQ Merger Arbitrage ETF (MNA) to ProShares Merger ETF (MRGR)

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

$32.78

Average Daily Volume

48,345

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MRGR

ProShares Merger ETF

MRGR Description

The investment seeks investment results, before fees and expenses, that track the performance of the S&P Merger Arbitrage Index (the "index"). The fund is designed to track the performance of the index and provide exposure to a global merger arbitrage strategy. The index, and by extension the fund, seeks to produce consistent, positive returns in virtually all market environments, although there are no assurances it will achieve this result. The fund is non-diversified. The index seeks to provide a risk arbitrage strategy that exploits commonly observed price changes associated with a global selection of publicly announced mergers, acquisitions and other corporate reorganizations. Historically, the index has exhibited market neutral characteristics, lower volatility compared to the S&P 500, and a low correlation to S&P 500 returns.

Grade (RS Rating)

Last Trade

$42.09

Average Daily Volume

792

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MNA	MRGR
30 Days	-0.33%	0.12%
60 Days	-0.36%	0.60%
90 Days	0.55%	1.82%
12 Months	6.67%	7.37%

21 Overlapping Holdings

Symbol	Grade	Weight in MNA	Weight in MRGR	Overlap
ALE	A	2.69%	2.31%	2.31%
ALTR	B	3.12%	2.4%	2.4%
B	A	2.08%	2.41%	2.08%
CTLT	C	5.63%	2.2%	2.2%
DFS	B	8.65%	3.14%	3.14%
ENV	B	2.59%	2.37%	2.37%
EVRI	A	1.59%	2.42%	1.59%
HCP	B	4.36%	2.3%	2.3%
HTLF	B	1.25%	3.58%	1.25%
IBTX	B	2.04%	3.02%	2.04%
INFN	D	1.72%	2.5%	1.72%
JNPR	D	4.99%	2.14%	2.14%
K	A	2.47%	2.37%	2.37%
MRO	B	3.51%	2.28%	2.28%
NAPA	A	1.6%	2.42%	1.6%
RCM	A	2.01%	2.37%	2.01%
RVNC	F	0.32%	1.42%	0.32%
SASR	B	1.5%	2.81%	1.5%
SMAR	B	3.2%	2.41%	2.41%
SPR	D	1.97%	2.11%	1.97%
ZUO	B	1.18%	2.39%	1.18%

MNA Overweight 23 Positions Relative to MRGR

Symbol	Grade	Weight
FYBR	C	3.64%
BALY	B	2.82%
AXNX	A	2.39%
AY	A	2.1%
VZIO	A	1.31%
FBMS	B	1.19%
AGS	A	0.84%
HAYN	A	0.77%
PFC	B	0.65%
GATO	C	0.41%
CFB	B	0.4%
PGRU	A	0.35%
SRDX	B	0.27%
BUSE	B	-0.42%
WSBC	B	-0.66%
RNST	B	-1.2%
CDE	C	-1.2%
UMBF	B	-1.28%
AUB	B	-1.5%
BA	F	-1.63%
SSB	B	-2.03%
IP	A	-4.24%
COF	C	-9.37%

MNA Underweight 8 Positions Relative to MRGR

Symbol	Grade	Weight
EDR	A	-2.53%
LBPH	A	-2.43%
ROIC	A	-2.41%
ATSG	B	-2.4%
CDMO	A	-2.36%
ANSS	B	-2.32%
LBRDK	C	-2.25%
CHX	C	-1.8%