MNA vs. XSHQ ETF Comparison

Comparison of IQ Merger Arbitrage ETF (MNA) to PowerShares S&P SmallCap Quality Portfolio (XSHQ)

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

$30.80

Average Daily Volume

52,500

Number of Holdings ^*

* may have additional holdings in another (foreign) market

XSHQ

PowerShares S&P SmallCap Quality Portfolio

XSHQ Description

The PowerShares S&P SmallCap Quality Portfolio (the "Fund") is based on the S&P SmallCap 600 Quality Index (Index). The Fund will invest at least 90% of its total assets in securities that comprise the Index. The Index is composed of 120 securities in the S&P SmallCap 600 Index that have the highest quality score, which is calculated based on the average of three fundamental measures: return on equity, accruals ratio and financial leverage ratio. The Fund and the Index are rebalanced and reconstituted semi-annually on the third Friday of June and December.

Grade (RS Rating)

Last Trade

$39.93

Average Daily Volume

35,519

Number of Holdings ^*

114

* may have additional holdings in another (foreign) market

Performance

Period	MNA	XSHQ
30 Days	-1.88%	-0.84%
60 Days	-1.60%	-0.03%
90 Days	-1.88%	1.96%
12 Months	-1.61%	22.24%

0 Overlapping Holdings

	Symbol	Grade	Weight in MNA	Weight in XSHQ	Overlap

MNA Overweight 32 Positions Relative to XSHQ

Symbol	Grade	Weight
PXD	A	7.33%
HES	A	7.07%
X	F	6.79%
ANSS	C	6.42%
DFS	A	6.26%
ETRN	A	5.74%
CTLT	D	5.56%
JNPR	D	4.99%
MDC	A	4.46%
CPRI	F	4.23%
CERE	C	2.78%
AMED	D	2.65%
SIX	F	2.49%
FUSN	A	2.47%
AXNX	C	2.38%
DOOR	A	2.12%
OLK	D	1.82%
MGRC	D	1.11%
VZIO	C	1.1%
SRCL	C	0.86%
HAYN	A	0.8%
SP	C	0.76%
EVBG	A	0.74%
HA	D	0.63%
INBX	D	0.61%
NS	C	0.59%
NWLI	A	0.52%
KAMN	A	0.49%
NGMS	A	0.42%
TAST	A	0.37%
XT	D	-0.24%
XOP	A	-6.49%

MNA Underweight 114 Positions Relative to XSHQ

Symbol	Grade	Weight
MLI	A	-2.54%
SM	A	-2.35%
BMI	A	-2.23%
APAM	D	-2.17%
IBP	C	-2.13%
AMR	D	-2.13%
AAON	A	-1.97%
ABG	A	-1.91%
WIRE	A	-1.8%
ASO	C	-1.69%
WDFC	F	-1.69%
RDN	B	-1.67%
HI	B	-1.67%
HP	A	-1.63%
CEIX	D	-1.61%
LBRT	A	-1.58%
SIG	C	-1.5%
HCC	A	-1.48%
CRC	B	-1.42%
PTEN	D	-1.34%
GMS	D	-1.34%
OTTR	B	-1.29%
ACA	D	-1.29%
NPO	D	-1.26%
JBT	F	-1.26%
FBP	A	-1.25%
SANM	B	-1.24%
KTB	B	-1.23%
SHOO	C	-1.22%
PARR	F	-1.2%
FTDR	D	-1.18%
BRC	A	-1.11%
CALM	B	-1.1%
WOR	C	-1.09%
DIOD	B	-1.06%
IOSP	C	-1.05%
CRVL	C	-1.04%
SLVM	A	-1.03%
KLIC	D	-1.03%
AMN	D	-1.01%
NMIH	B	-0.98%
CCOI	D	-0.98%
IDCC	C	-0.98%
MHO	C	-0.98%
CARG	B	-0.92%
EXTR	F	-0.9%
CATY	D	-0.9%
TBBK	D	-0.89%
AX	B	-0.87%
SXI	C	-0.85%
EVTC	B	-0.84%
BLMN	C	-0.83%
CPRX	D	-0.8%
PRGS	D	-0.78%
IPAR	D	-0.77%
PLMR	A	-0.74%
PLAB	C	-0.69%
EPAC	A	-0.68%
DFIN	A	-0.64%
ODP	C	-0.64%
CVI	D	-0.61%
NATL	A	-0.61%
BKE	C	-0.59%
FIZZ	F	-0.58%
WABC	B	-0.58%
PRG	B	-0.58%
OFG	B	-0.57%
LKFN	B	-0.56%
WNC	D	-0.56%
CHCO	B	-0.55%
HWKN	A	-0.54%
CASH	B	-0.53%
APOG	A	-0.52%
VRTS	C	-0.52%
LGND	B	-0.51%
CAL	C	-0.5%
CSGS	D	-0.5%
LNN	D	-0.49%
LPG	A	-0.49%
SDGR	F	-0.48%
AMWD	D	-0.48%
RGR	B	-0.45%
BANF	B	-0.45%
CARS	D	-0.43%
AMSF	B	-0.43%
POWL	B	-0.42%
JBSS	D	-0.42%
ATEN	B	-0.42%
GDEN	D	-0.41%
PFBC	A	-0.41%
SLCA	B	-0.41%
EIG	B	-0.4%
NX	D	-0.4%
PDFS	F	-0.39%
MCRI	D	-0.36%
MNRO	F	-0.33%
CRK	A	-0.31%
MRTN	F	-0.31%
CLB	C	-0.3%
IIIN	C	-0.29%
SLP	A	-0.28%
MYE	A	-0.26%
ZEUS	B	-0.25%
MED	F	-0.25%
HCI	A	-0.24%
RES	A	-0.24%
CLW	A	-0.23%
TWI	D	-0.23%
FWRD	F	-0.2%
USNA	F	-0.19%
CCRN	D	-0.19%
CPF	A	-0.17%
RGP	F	-0.13%
SPWR	F	-0.06%