IQ

MEMA Man Active Emerging Markets Alternative ETF

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$28.13
+0.6% · 1 day, price
IQ’s readingComputed nightly from ETFIQ data. Not written live.

From its Dec 17, 2025 launch to Nov 4, 2026, MEMA returned 12.6%, against 17.7% for EEM.

Why did MEMA return +7.1% from Dec 2025 to Oct 2026, against EEM’s +11.9%?Is a 0.85% fee low for a fund like MEMA?What does MEMA cost to hold and to trade?
Long-short equity fund: owns stocks and sells others short, so part of its exposure to the stock market cancels outMan Group ↗Expense ratio 0.85%Fund assets $13m net assets, latest filing (Aug 31, 2026)First traded Dec 17, 2025Benchmark MSCI Emerging Markets Index, measured by EEM, which tracks the same indexSEC filings ↗Every Man Group fund ETFIQ coversDividend history

Promise check: Not measuredIts strategy, long-short equity, states no objective ETFIQ can measure.

Compare with…Trading costsPut to the committeeaskIQ about MEMAAdd to portfolioFlowsAlerts

MEMA risk and return scorecard

vs EEM · Dec 2025 to Oct 2026 · 44 weekly returns · dividend-adjusted

Short history · 10 months
MEMA +7.1%, EEM +11.9%, Dec 2025 to Oct 2026, distributions reinvested.

44 weekly returns: annualized numbers and ratios need 52.

Return
MeasureMEMAEEMEdge
Total return+7.1%+11.9%EEM
Price return+6.8%+11.4%EEM
Risk
MeasureMEMAEEMEdge
Max drawdown−15.8%−13.8%EEM
Alpha vs EEM
MeasureMEMAEEMEdge
Beta to EEM0.981.00Tie

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent Method · Data

Money in and out

Net fund flows · Aug 31, 2026
Since Dec 2025
+$10.0m
askIQ: what do these flows mean? ↗

What you earned

MEMA −12.4%, EEM −10.3%: total return over one month to Nov 4, 2026.
MEMA−12.4%
EEM−10.3%
MEMA −7.0%, EEM −6.2%: total return over three months to Nov 4, 2026.
MEMA−7.0%
EEM−6.2%
MEMA −11.6%, EEM −8.2%: total return over six months to Nov 4, 2026.
MEMA−11.6%
EEM−8.2%
MEMA +9.4%, EEM +13.2%: total return over the year to Nov 4, 2026.
MEMA+9.4%
EEM+13.2%
MEMA +12.6%, EEM +17.7%: total return since launch to Nov 4, 2026.
MEMA+12.6%
EEM+17.7%
askIQ: why did MEMA return +12.6% since launch, against EEM’s +17.7%? ↗

How concentrated, and what does it cost?

+12.6%
Total return since launch
Report
+15.4%
S&P 500 over the same days
Report
−5.1 pts
Against its own benchmark
Report
222
Days it has traded
Report
$0.0891
Last payment, ex-date Jun 24, 2026
Report
Sector mix
Cost against like funds
askIQ: is a 0.85% fee low for a fund like MEMA? ↗

More on MEMA

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Price since launch, Dec 17, 2025

$28.13+0.6%1 day, priceClose, Nov 4, 2026

Price only. Total return over the same days, distributions reinvested, was +12.6%. Computed by ETFIQ from Tiingo daily prices.

Source: Tiingo end-of-day prices. Data as of Nov 4, 2026. Updated every trading night. Report a data error

MEMA returns by window: total return, cash paid and price change
WindowTotal returnBenchmark (EEM)Gap to EEMS&P 500 (SPY)
1M Oct 5 – Nov 4, 2026−12.4%−10.3%−2.1 pts−1.0%
3M Aug 5 – Nov 4, 2026−7.0%−6.2%−0.8 pts−0.1%
6M May 6 – Nov 4, 2026−11.6%−8.2%−3.4 pts+5.0%
YTD Dec 31, 2025 – Nov 4, 2026+9.4%+13.2%−3.8 pts+13.3%
Since launch Dec 17, 2025 – Nov 4, 2026+12.6%+17.7%−5.1 pts+15.4%

Total returns, distributions reinvested. Listed Dec 2025: no 1 year and 3 years windows.

Source: Tiingo end-of-day prices, with distributions reinvested.

Money in and out

Monthly data · as of Aug 31, 2026

MEMA: in the month to Aug 31, 2026, nothing net moved, by its SEC filing.

Since Dec 2025
+$10.0m
Dec 1, 2025 to Aug 31, 2026
monthly, from SEC filings

Computed by ETFIQ from the monthly sales and redemptions MEMA files with the SEC on Form N-PORT.

How this is computed

ETFIQ reads no daily data for this fund, so its flows are monthly, and the latest month filed is Aug 2026. Every day and month ETFIQ holds for MEMA, back to Dec 2025, is in its flows file. Flows across every fund · How these flows are computed · Compare MEMA with other funds in the flows tool

Month by month, money in and money outDec 2025 to Aug 2026

MEMA, money in and money out each month from Dec 2025 to Aug 2026: two bars a month, money in above the line and money out below. Every bar is from MEMA’s SEC filings (N-PORT item B.6). Of the 9 months listed, money came in on net in 1 and went out in 0.

Every bar is from MEMA’s SEC filings (N-PORT item B.6). Of the 9 months listed, money came in on net in 1 and went out in 0.

MonthInOutNet
Aug 2026 SEC Form N-PORT$0$0$0
Jul 2026 SEC Form N-PORT$0$0$0
Jun 2026 SEC Form N-PORT$0$0$0
May 2026 SEC Form N-PORT$0$0$0
Apr 2026 SEC Form N-PORT$0$0$0
Mar 2026 SEC Form N-PORT$0$0$0
Feb 2026 SEC Form N-PORT$0$0$0
Jan 2026 SEC Form N-PORT$0$0$0
Dec 2025 SEC Form N-PORT+$10.0m$0+$10.0m

Most recent first.

How this is computed

N-PORT months: money in is sales plus reinvestments; money out is redemptions.

N-PORT months are the filed sales plus reinvestments less redemptions. Later months add up the daily data; the Source column names any missing day.

Source: ETFIQ, from the fund’s SEC N-PORT filings. Data as of Aug 31, 2026. Updated when the fund files its next report.

MEMA key stats

High since Dec 17, 2025, daily closes to Nov 4, 2026 (ETFIQ)$33.05 on Jun 2, 2026
Low since Dec 17, 2025, daily closes to Nov 4, 2026 (ETFIQ)$25.06 on Dec 17, 2025
Close on Nov 4, 2026, within that range (ETFIQ)$28.13, 38% of the way from the low to the high
Range, beta and R-squared computed by ETFIQ from Tiingo daily prices.

Trading

as of Nov 4, 2026
Trading · MEMAas of Nov 4, 2026
·
Not scored0 of 6 measured · Nov 4, 2026
0 · Hard to tradeIQ Liquidity Score100 · Trades like a giant
Cost for your order · one way, half its 30-day median spread
How to tradeSpread not read.
Full trading page: components, premium history, dealers →

MEMA for holders outside the US

US tax withheld on dividends, no treaty30%
Treaty rates on dividends (IRS table, read Oct 30, 2026)65 countries, 10% to 30%
MEMA interest-related and short-term gain dividendsnot read by ETFIQ
US estate tax filing threshold, non-resident holders$60,000
Share classDistributing

MEMA is a US fund. Stock of US corporations counts as US property for a non-resident's estate. Facts from the IRS, not tax advice. How withholding and treaties work

About MEMA

IssuerMan Group
Strategy (ETFIQ, from its prospectus)Long-short equity
Expense ratio (485BPOS XBRL, Dec 12, 2025)0.85%Report
Net assets (SEC N-PORT, whole fund, as filed for Aug 31, 2026)$13mReport
Benchmark (ETFIQ, from its filings)MSCI Emerging Markets Index, measured by EEM, which tracks the same index
Benchmark named inits prospectus, 485BPOS, Dec 12, 2025
When stocks fellS&P 500 −4.9% in March 2026; MEMA not measured, as its market-price return of −8.45% and its NAV return of −12.31% differ by 3.86 points, past the 1.0-point tolerance
Weekly correlation with the S&P 500not measured, as it has fewer than 52 weeks of closes
First tradedDec 17, 2025
Days traded222
Quotedon an exchange, every trading day
How we measure
Weekly closes from Tiingo with distributions reinvested, 52 weeks to the same date for the fund, SPY and BIL. ETFIQ calculation. Method
IQ Investment Committee on MEMA

12 seats on MEMA, as of Nov 4, 2026: 3 Challenges, 8 Not enough data, 1 Does not apply.

In the tradition ofJohn BogleBogle-style Low CostChallenges
In the tradition ofBenjamin GrahamGraham-style Margin of SafetyNot enough data
In the tradition ofWarren Buffett & Charlie MungerBuffett & Munger-style QualityNot enough data
In the tradition ofPeter LynchLynch-style Growth at a Reasonable PriceNot enough data
In the tradition ofJohn TempletonTempleton-style Global ContrarianNot enough data
In the tradition ofRay DalioDalio-style All-WeatherNot enough data
In the tradition ofHoward MarksMarks-style Cycles & RiskNot enough data
In the tradition ofStanley DruckenmillerDruckenmiller-style Macro & LiquidityDoes not apply
In the tradition ofDavid SwensenSwensen-style DiversificationChallenges
In the tradition ofCathie WoodWood-style Disruptive InnovationNot enough data
In the tradition ofJesse LivermoreLivermore-style Trend FollowingChallenges
Uses ETFIQ’s measuresThe ETFIQ SkepticETFIQ’s own seatNot enough data
Put MEMA to the committee →See all seats →No investor named is affiliated with or endorses ETFIQ. Not investment advice.

Questions people ask about MEMA

What does MEMA cost?
The prospectus expense ratio is 0.85% a year.
Why is MEMA listed as long-short equity?
ETFIQ files each fund by what its own prospectus says it does, and MEMA’s, filed Dec 12, 2025, describes a long-short equity fund.
Sources and dates
Prices, MEMA, Benchmark (EEM) and S&P 500 (SPY)Prices, Tiingo end of day ↗
Fee, 0.85%Prospectus filing with the expense ratio (SEC) ↗
Net assets, $13mSEC N-PORT, whole fund · Aug 31, 2026
SourceProspectus the strategy was read from (SEC) ↗
IssuerMan Group website ↗
All fund filingsFund filings on SEC EDGAR ↗
Man Group’s own site ↗

Links are sources, not endorsements.

Method →Standards and sources →Open data →
Cite this pageCitation, APA and Markdown

ETFIQ, MEMA, alternatives ETFs, data as of Nov 4, 2026. https://etfiq.com/funds/mema

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.

Correlation
How closely the fund’s weekly returns moved with the S&P 500’s over the last year, from −1 to 1. At 1 the two rise and fall together, at 0 there is no pattern, and below 0 the fund tended to move the other way.
Beta
How far the fund moved, on average, for each 1% move in the S&P 500 over the same weeks. At 0.3 it moved about 0.3% the same way; below 0 it moved the other way.
Down week
A week in which the S&P 500 fell, measured through SPY with dividends reinvested. A week that ended exactly level is not a down week.
Down-week capture
The fund’s average return in the S&P 500’s down weeks as a share of the index’s own average in those weeks. At 100% it fell as much, at 50% half as much, and below zero it rose. It is weekly and covers one year, so it is not the same number as Morningstar’s downside capture.
Against T-bills
The fund’s total return minus a short Treasury bill fund’s (BIL) over the same year, in percentage points. A fund can steady a portfolio and still earn less than cash.
Full definitions: alternatives ETFs vocabulary page. →
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Snapshot, Nov 4, 2026. More on the tabs above.