New York Life Investment Management LLCEvent DrivenMNA · NYSE Arca

NYLIM Merger Arbitrage ETF (MNA)

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Price: $36.73; —11 Sept 2026
Assets: $255.5M; Total net assets
Expense ratio: 0.78%; Category 1.83%
Yield: 0.00%; Trailing distributions

1Y return: 2.9%-2.8%; Category 5.7%
3Y CAGR: 5.6%-1.4%; Category 7.0%
5Y CAGR: 2.4%-1.2%; Category 3.6%

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NYLIM Merger Arbitrage ETF

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	+0.3%	+0.7%	+2.0%	+2.6%	+2.9%	+5.6%	+2.4%	+2.8%	+2.7%
Event Driven average	-0.1%	0.9%	3.0%	3.5%	5.7%	7.0%	3.6%	3.3%	2.7%
Difference	+0.3%	-0.1%	-1.0%	-0.9%	-2.8%	-1.4%	-1.2%	-0.5%	0.0%

Holdings

The 8 largest positions make up 31.9% of the fund.

Top holdings

Largest holdings by weight
Ticker	Holding	Weight
TECK-B.TO	Teck Resources Ltd Class B (Sub Voting)	5.79%
AAL	American Airlines Group Inc	5.66%
BKH	Black Hills Corp	3.58%
NWE	NorthWestern Energy Group Inc	3.52%
NEE	NextEra Energy Inc	3.43%
WBD	Warner Bros. Discovery Inc Ordinary Shares - Class A	3.40%
D	Dominion Energy Inc	3.39%
ARX.TO	ARC Resources Ltd	3.13%

Portfolio valuation

Weighted averages of what the fund holds.

P/E: 17.4
P/B: 2.3
P/S: 1.1
P/CF: 7.2

Sector allocation

Share of the equity the fund holds.

Industrials18.8%
Financial services15.2%
Health care12.0%
Materials11.4%
Utilities9.4%
Communication services9.0%
Consumer discretionary6.1%
Technology5.6%
Real estate4.4%
Consumer staples4.3%
Energy3.8%

Asset mix

Stocks73.9%
Cash18.6%
Preferred shares7.6%
Other0.0%

Credit quality

Share of the bonds by rating.

AAA0.5%
AA99.5%

ETF details

Issuer: New York Life Investment Management LLC
Category: Alternatives · Event Driven
Ticker: MNA
Exchange: NYSE Arca
Inception: 17 Nov 2009 (16.8 years)
Structure: Exchange Traded Fund
Expense ratio: 0.78% (category 1.83%)
Holdings turnover: 335% (category 244%)
Distribution yield: 0.00%
Beta, 3 years: 0.02
Total net assets: $255.5M

Prices and returns as of 11 Sept 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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