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About NYLI Merger Arbitrage ETF
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Inception date
Nov 17, 2009
Structure
Open-Ended Fund
Replication method
Physical
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
New York Life Investment Management LLC
Distributor
ALPS Distributors, Inc.
ISIN
US45409B8000
MNA aims to generate returns through a passive strategy that represents the global merger arbitrage activity. The fund takes long positions in stocks that are reported targets of takeovers or acquisitions and other buyout-related transactions. The underlying index seeks to capitalize on the spread between the target companys current market stock price and the price of that stock received by the holder from the buyout transaction. Rather than directly shorting the acquiring name, the fund partially offsets long stakes with broad equity indexes. The resulting net long equity position should aid in keeping correlations low over time, and the approach hopes to reduce expenses since it avoids 100% short positions. Prior to Aug. 28, 2024, the fund name was branded under IndexIQ.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Technology Services
Finance
Stocks94.26%
Technology Services16.42%
Finance14.75%
Producer Manufacturing8.75%
Utilities7.94%
Retail Trade7.32%
Health Technology7.08%
Commercial Services6.72%
Energy Minerals5.92%
Transportation4.90%
Consumer Non-Durables3.64%
Distribution Services3.03%
Consumer Services2.85%
Communications2.06%
Electronic Technology1.93%
Non-Energy Minerals0.95%
Bonds, Cash & Other5.74%
Mutual fund3.44%
Cash2.30%
Miscellaneous0.01%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
MNA top holdings are Mr. Cooper Group, Inc. and CyberArk Software Ltd., occupying 4.89% and 3.73% of the portfolio correspondingly.
MNA last dividends amounted to 0.38 USD. The year before, the issuer paid 0.77 USD in dividends, which shows a 102.90% decrease.
MNA assets under management is 255.21 M USD. It's risen 2.25% over the last month.
MNA fund flows account for −30.03 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
MNA shares are issued by New York Life Insurance Co. under the brand New York Life Investments. The ETF was launched on Nov 17, 2009, and its management style is Passive.
MNA expense ratio is 0.77% meaning you'd have to pay 0.77% of your investment to help manage the fund.
MNA follows the IQ Merger Arbitrage Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
MNA invests in stocks.
MNA price has fallen by −0.63% over the last month, and its yearly performance shows a 8.32% increase. See more dynamics on MNA price chart.
NAV returns, another gauge of an ETF dynamics, have risen by 0.19% over the last month, showed a 1.66% increase in three-month performance and has increased by 8.95% in a year.
NAV returns, another gauge of an ETF dynamics, have risen by 0.19% over the last month, showed a 1.66% increase in three-month performance and has increased by 8.95% in a year.
MNA trades at a premium (0.21%) meaning the ETF is trading at a higher price than the calculated NAV.