NVIR vs. MNA ETF Comparison

Comparison of Listed Funds Trust Horizon Kinetics Energy and Remediation ETF (NVIR) to IQ Merger Arbitrage ETF (MNA)

NVIR

Listed Funds Trust Horizon Kinetics Energy and Remediation ETF

NVIR Description

The fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing primarily in securities of companies that are expected to benefit, either directly or indirectly, from the increasing focus on climate and environmentally sensitive carbon-based energy production. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$27.95

Average Daily Volume

562

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

$31.06

Average Daily Volume

56,743

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	NVIR	MNA
30 Days	-2.73%	-1.51%
60 Days	4.58%	-1.29%
90 Days	10.73%	0.11%
12 Months	20.30%	-0.95%

1 Overlapping Holdings

	Symbol	Grade	Weight in NVIR	Weight in MNA	Overlap
	PXD	B	4.11%	7.57%	4.11%

NVIR Overweight 7 Positions Relative to MNA

Symbol	Grade	Weight
FANG	B	4.79%
WMB	B	4.05%
COP	C	3.98%
EQT	B	3.91%
XOM	B	3.89%
CHK	B	3.6%
LNG	D	3.6%

NVIR Underweight 28 Positions Relative to MNA

Symbol	Grade	Weight
HES	B	-7.48%
DFS	B	-6.7%
ANSS	D	-6.47%
ETRN	A	-6.26%
X	F	-6.13%
CTLT	C	-5.59%
JNPR	D	-4.87%
CPRI	F	-3.83%
CERE	A	-2.81%
AMED	D	-2.66%
SIX	D	-2.51%
FUSN	A	-2.5%
AXNX	C	-2.37%
DOOR	A	-2.15%
OLK	D	-1.81%
VZIO	D	-1.12%
MGRC	D	-1.07%
SRCL	F	-0.87%
HAYN	C	-0.8%
SP	B	-0.76%
EVBG	B	-0.75%
NS	D	-0.65%
INBX	D	-0.61%
HA	D	-0.59%
NWLI	A	-0.53%
TAST	A	-0.37%
XT	C	--0.24%
XOP	C	--6.52%