{"url":"https://etfiq.com/compare/alternatives/mna-vs-mrgr","section":"compare","title":"MNA vs MRGR: Correlation to the S&P 500 | ETFIQ","description":"MNA and MRGR both run event driven strategies. Over the year to Nov 4, 2026, MNA had a correlation of +0.22 with the S&P 500 and MRGR +0.22.","as_of":"Nov 4, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which moved less with the S&P 500, MNA or MRGR?","acceptedAnswer":{"@type":"Answer","text":"Over the 52 weeks to Nov 4, 2026 both had a correlation of +0.22 with the S&P 500, so neither moved less with the index at the precision this page prints."}},{"@type":"Question","name":"Which did better when the S&P 500 fell, MNA or MRGR?","acceptedAnswer":{"@type":"Answer","text":"In the 26 weeks the S&P 500 fell, by 1.07% a week on average, MNA averaged 0.00% and MRGR \u22120.01%, so MNA returned more in those weeks."}},{"@type":"Question","name":"Which earned more than cash, MNA or MRGR?","acceptedAnswer":{"@type":"Answer","text":"Over the same weeks, MNA finished 0.7 percentage points behind cash and MRGR finished 0.7 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills."}},{"@type":"Question","name":"Which is cheaper, MNA or MRGR?","acceptedAnswer":{"@type":"Answer","text":"MNA charges 0.78% a year and MRGR charges 0.75%, so MRGR is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Alternatives ETFs","item":"https://etfiq.com/alternatives/"},{"@type":"ListItem","position":3,"name":"Compare ETFs","item":"https://etfiq.com/compare/"},{"@type":"ListItem","position":4,"name":"MNA vs MRGR","item":"https://etfiq.com/compare/alternatives/mna-vs-mrgr"}]},{"@type":"WebPage","name":"MNA vs MRGR: Correlation to the S&P 500","description":"MNA and MRGR both run event driven strategies. Over the year to Nov 4, 2026, MNA had a correlation of +0.22 with the S&P 500 and MRGR +0.22.","url":"https://etfiq.com/compare/alternatives/mna-vs-mrgr","dateModified":"2026-11-04","abstract":"Over the year to Nov 4, 2026, MNA and MRGR moved with the S&P 500 equally closely, both at +0.22.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of MNA and MRGR","description":"MNA and MRGR both run event driven strategies. Over the year to Nov 4, 2026, MNA had a correlation of +0.22 with the S&P 500 and MRGR +0.22.","dateModified":"2026-11-04","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/alternatives/mna-vs-mrgr","license":"https://etfiq.com/license/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/alternatives.json"}],"variableMeasured":["Correlation with the S&P 500","Beta to the S&P 500","Down-week capture","Average week when the S&P 500 fell","Return against T-bills","Total return","Strategy","Expense ratio"],"keywords":["exchange-traded funds","ETF","Alternatives ETFs","fund data","SEC filings"]}],"characters":6107,"truncated":true,"content":"ETFIQ / Alternatives ETFs / Compare ETFs / MNA vs MRGR \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Nov 4, 2026 .\n\n MNA vs MRGR: Correlation to the S&P 500\n\n Over the year to Nov 4, 2026, MNA and MRGR moved with the S&P 500 equally closely, both at +0.22.\n Copy this for sharing \n \n MRGR costs 0.03 points a year less; their one-year returns differ by 1.4 points.\n MNA and MRGR at a glance. As of Nov 4, 2026. Source: ETFIQ. MNA MRGR \n Expense ratio 0.78% 0.75% \n Net assets, MNA as of Jul 31, 2026 and MRGR as of Nov 4, 2026 $252m $16m \n Total return, 1 year +2.9% +4.3% \n Holdings in comm","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, MNA against MRGR, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/mna-vs-mrgr","a":{"ticker":"MNA","name":"NYLIM Merger Arbitrage ETF","issuer":"New York Life Investments","desk":"alternatives","as_of":"2026-11-04","verdict":"Over the year to Nov 4, 2026, MNA returned 2.9%. When the S&P 500 fell, it barely moved.","url":"https://etfiq.com/funds/mna","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.22","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.05","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"0.2%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"\u22120.7 pts","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Last payment (paid annually), ex-date Dec 28, 2023","value":"$0.3775","as_of":"2023-12-28","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$252m","as_of":"2026-07-31","source":"SEC N-PORT, whole fund, as filed for Jul 31, 2026"},{"label":"Expense ratio","value":"0.78%","as_of":"2026-08-26","source":"485BPOS XBRL, Aug 26, 2026"}]},"b":{"ticker":"MRGR","name":"ProShares Merger ETF","issuer":"ProShares","desk":"alternatives","as_of":"2026-11-04","verdict":"Over the year to Nov 4, 2026, MRGR returned 4.3%. When the S&P 500 fell, it fell 1% as much.","url":"https://etfiq.com/funds/mrgr","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.22","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.05","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"1.2%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"+0.7 pts","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"2.7%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment (paid quarterly), ex-date Sep 23, 2026","value":"$0.0416","as_of":"2026-09-23","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$16m","as_of":"2026-11-04","source":"issuer page, as of Nov 4, 2026"},{"label":"Expense ratio","value":"0.75%","as_of":"2026-09-25","source":"485BPOS XBRL, Sep 25, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/alternatives/mna-vs-mrgr"}