RISN vs. MNA ETF Comparison

Comparison of Inspire Tactical Balanced ESG ETF (RISN) to IQ Merger Arbitrage ETF (MNA)

RISN

Inspire Tactical Balanced ESG ETF

RISN Description

The investment seeks to provide capital appreciation with lower volatility than the U.S. large cap stock market over the long term. The fund, an actively managed ETF, uses a proprietary system of technical analysis to tactically allocate assets into U.S. large cap stocks when the strategy identifies an uptrend in the U.S. large cap stock market, and shifts into U.S. Treasury bonds via third-party ETFs, investment grade and high-yield corporate bonds, government agency bonds, and listed gold exchange-traded products and exchange-traded notes such as SPDR Gold Shares (GLD) when the strategy identifies a downtrend in the U.S. large cap stock market.

Grade (RS Rating)

Last Trade

$27.65

Average Daily Volume

8,240

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

$32.67

Average Daily Volume

49,530

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	RISN	MNA
30 Days	1.26%	-0.79%
60 Days	3.49%	-0.77%
90 Days	5.61%	0.40%
12 Months	19.48%	6.83%

1 Overlapping Holdings

	Symbol	Grade	Weight in RISN	Weight in MNA	Overlap
	PFC	A	1.17%	0.65%	0.65%

RISN Overweight 74 Positions Relative to MNA

Symbol	Grade	Weight
USFR	A	19.16%
NVR	D	1.32%
EPAM	B	1.3%
CIVB	A	1.28%
AX	A	1.23%
MKL	A	1.23%
LAD	A	1.23%
G	A	1.22%
WST	C	1.21%
AME	A	1.2%
COLB	A	1.17%
CFR	A	1.16%
EME	B	1.15%
DAR	B	1.15%
ODFL	B	1.15%
TXRH	A	1.14%
SNA	A	1.13%
CSX	B	1.12%
EOG	A	1.11%
PCAR	B	1.11%
ACIW	B	1.11%
NFBK	A	1.11%
ALG	B	1.11%
CPRT	A	1.11%
JBHT	B	1.11%
MLM	B	1.1%
FAST	B	1.1%
MVBF	B	1.1%
MOH	F	1.1%
NTES	C	1.1%
LECO	C	1.1%
BOTJ	A	1.09%
NECB	A	1.09%
OFLX	C	1.09%
MNST	D	1.09%
GGG	A	1.08%
PBHC	B	1.08%
IBN	C	1.07%
BRO	B	1.07%
PAG	A	1.07%
NICE	D	1.07%
ROL	A	1.06%
MAA	A	1.06%
MED	D	1.06%
GNTX	C	1.06%
COKE	C	1.05%
UDR	C	1.05%
LSTR	D	1.05%
ROP	C	1.05%
EXPD	D	1.04%
MSCI	A	1.04%
POOL	D	1.03%
ON	F	1.01%
MIDD	D	1.01%
RMD	C	1.0%
PSA	C	1.0%
LFUS	D	1.0%
CSGP	F	1.0%
EW	C	1.0%
CACI	C	0.99%
CNI	F	0.99%
GIII	D	0.98%
EGP	D	0.98%
ASR	F	0.98%
CHE	D	0.97%
CSL	B	0.97%
IDXX	F	0.97%
KRC	C	0.96%
TSM	B	0.95%
MKTX	C	0.95%
FCNCA	A	0.93%
ELV	F	0.93%
SWKS	F	0.89%
CRI	D	0.83%

RISN Underweight 44 Positions Relative to MNA

Symbol	Grade	Weight
DFS	A	-8.94%
CTLT	C	-5.65%
JNPR	D	-5.04%
HCP	B	-4.32%
FYBR	C	-3.64%
MRO	A	-3.5%
SMAR	A	-3.18%
ALTR	B	-3.09%
BALY	A	-2.77%
ALE	A	-2.67%
INST	B	-2.61%
ENV	B	-2.56%
K	B	-2.44%
AXNX	A	-2.37%
AY	A	-2.08%
IBTX	A	-2.08%
B	A	-2.05%
RCM	A	-1.99%
SPR	D	-1.99%
INFN	C	-1.72%
NAPA	A	-1.58%
EVRI	A	-1.57%
SASR	A	-1.49%
VZIO	A	-1.33%
HTLF	A	-1.27%
FBMS	A	-1.22%
ZUO	A	-1.17%
AGS	A	-0.83%
HAYN	A	-0.75%
GATO	D	-0.43%
RVNC	F	-0.43%
CFB	B	-0.41%
PGRU	A	-0.35%
SRDX	C	-0.26%
BUSE	A	--0.42%
WSBC	A	--0.66%
CDE	D	--1.15%
RNST	A	--1.23%
UMBF	A	--1.29%
AUB	A	--1.51%
BA	F	--1.69%
SSB	A	--2.1%
IP	A	--4.38%
COF	A	--9.54%