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IQ Merger Arbitrage ETF (MNA)
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Upturn Advisory Summary
12/03/2025: MNA (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type ETF | Historic Profit 4.91% | Avg. Invested days 66 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  2.0 | ETF Returns Performance  1.0 |
| Profits based on simulation | Last Close 12/03/2025 |
Key Highlights
Volume (30-day avg) - | Beta 0.09 | 52 Weeks Range 31.50 - 35.52 | Updated Date 06/30/2025 |
52 Weeks Range 31.50 - 35.52 | Updated Date 06/30/2025 |
Upturn AI SWOT
IQ Merger Arbitrage ETF
ETF Overview
Overview
The IQ Merger Arbitrage ETF (MNA) seeks investment results that correspond generally to the price and yield performance of the IQ Merger Arbitrage Index. It invests in companies that are the targets of publicly announced mergers, acquisitions, and tender offers.
Reputation and Reliability
IndexIQ is known for its innovative approach to ETFs, particularly in alternative investment strategies.
Management Expertise
IndexIQ has a team experienced in managing alternative investment strategies and complex ETF products.
Investment Objective
Goal
Seeks investment results that correspond generally to the price and yield performance of the IQ Merger Arbitrage Index.
Investment Approach and Strategy
Strategy: The fund aims to replicate the returns of an index that tracks the performance of companies involved in merger arbitrage situations.
Composition The ETF holds stocks of companies that are targets in announced merger or acquisition deals.
Market Position
Market Share: MNA holds a significant, but not dominant, share of the merger arbitrage ETF market.
Total Net Assets (AUM): 93200000
Competitors
Key Competitors
- CSD
- MRGR
Competitive Landscape
The merger arbitrage ETF space is relatively niche. MNA, CSD and MRGR are the main competitors. Advantages of MNA include its established track record and AUM. Disadvantages might include its expense ratio compared to some peers or specific index construction methodologies.
Financial Performance
Historical Performance: Historical performance data is available through various financial data providers and should be considered when evaluating the ETF.
Benchmark Comparison: The ETF's performance should be compared to the IQ Merger Arbitrage Index to assess its tracking effectiveness.
Expense Ratio: 0.75
Liquidity
Average Trading Volume
The average daily trading volume can vary but is generally moderate, which should be considered when placing large orders.
Bid-Ask Spread
The bid-ask spread is typically reasonable, reflecting the ETF's trading volume and liquidity.
Market Dynamics
Market Environment Factors
Merger arbitrage strategies are sensitive to deal spreads, interest rates, regulatory hurdles, and overall market sentiment regarding M&A activity.
Growth Trajectory
The growth trajectory depends on the volume and success rate of mergers and acquisitions. There may be strategy changes to adapt to market environments.
Moat and Competitive Advantages
Competitive Edge
MNA's competitive advantage lies in its focus on merger arbitrage, potentially providing returns uncorrelated to traditional assets. It offers investors access to a specialized strategy typically employed by hedge funds. The ETFu2019s ability to effectively track its underlying index and maintain reasonable liquidity is crucial. Also, IndexIQu2019s reputation contributes to its standing in the market.
Risk Analysis
Volatility
Volatility depends on the M&A market. Deal failures, regulatory hurdles, and market downturns can all contribute to increased volatility.
Market Risk
Specific risks include deal risk (mergers failing to close), regulatory risk, interest rate risk, and general market risk affecting stock prices.
Investor Profile
Ideal Investor Profile
Investors seeking diversification and exposure to an alternative investment strategy, particularly those with a moderate risk tolerance and a desire for returns uncorrelated with traditional asset classes.
Market Risk
Suitable for investors with a medium to long-term investment horizon looking for alternative strategies. Not for passive index followers, more appropriate for sophisticated investors.
Summary
The IQ Merger Arbitrage ETF (MNA) provides exposure to companies involved in mergers and acquisitions, offering a potentially uncorrelated return stream. Its success hinges on the prevalence and successful completion of announced deals. Investors should consider the inherent risks associated with merger arbitrage and the ETF's expense ratio. MNA serves as a valuable diversifier within a broader portfolio. However, due diligence is essential to understand the nuances and risks of this specialized investment approach.
Similar ETFs
Sources and Disclaimers
Data Sources:
- ETF.com
- Morningstar
- Issuer's Website (IndexIQ)
Disclaimers:
The information provided is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About IQ Merger Arbitrage ETF
Exchange NYSE ARCA | Headquaters - | ||
IPO Launch date - | CEO - | ||
Sector - | Industry - | Full time employees - | Website |
Full time employees - | Website | ||
The fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the investments included in its underlying index. 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. The fund is non-diversified.
Note: This website is maintained by Upturn Corporation, which is an investment adviser registered with the U.S. Securities and Exchange Commission. Such registration does not imply a certain level of skill or training. Investing in securities has risks. Past performance is no guarantee of future returns. No assurance is provided as to any particular investment return, and you may lose money using our services. You are strongly advised to consult appropriate counsel before making any investments in companies you learn about through our services. You should obtain appropriate legal, tax, investment, accounting, and other advice that takes into account your investment portfolio and overall financial situation. You are solely responsible for conducting due diligence on a potential investment. We do not affect trades for you. You will select your own broker through which to transact. Investments are not FDIC insured, they are not guaranteed, and they may lose value. Please see the Privacy Policy, Terms of Use, and Disclosure for more information.