# MNA (NYLIM Merger Arbitrage ETF)

New York Life Investments · Alternatives ETFs · data as of Sep 18, 2026

In the S&P 500’s down weeks over the year to Sep 18, 2026, MNA rose 0.04% a week on average.

## Key facts

- MNA, correlation with the S&P 500: +0.15, as of Sep 18, 2026.
- MNA, beta to the S&P 500: +0.03, as of Sep 18, 2026.
- MNA, down-week capture: −3.1%, as of Sep 18, 2026.
- MNA, against T-bills, 52 weeks: −0.9 pts, as of Sep 18, 2026.
- MNA, net assets: $249m (SEC N-PORT, whole fund, as filed for Apr 30, 2026).
- MNA, expense ratio: 0.78% (485BPOS XBRL, Aug 26, 2026).

## MNA over each window to Sep 18, 2026

| Window | The fund | S&P 500 | Difference, percentage points |
| --- | --- | --- | --- |
| 3 months | +1.0% | +2.3% | −1.3 pts |
| 6 months | +1.7% | +18.0% | −16.3 pts |
| 1 year | +1.9% | +16.6% | −14.7 pts |
| 3 years | +17.7% | +78.4% | −60.7 pts |
| Since it listed | +53.2% | +803.5% | −750.3 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Issuer | New York Life Investments | ETFIQ |
| Strategy | Event driven | ETFIQ, from its prospectus |
| Expense ratio | 0.78% | 485BPOS XBRL, Aug 26, 2026 |
| Net assets | $249m | SEC N-PORT, whole fund, as filed for Apr 30, 2026 |
| Weeks measured | 52, from Sep 19, 2025 to Sep 18, 2026 | ETFIQ |
| Weeks the S&P 500 fell | 22 | ETFIQ |
| The S&P 500 in those weeks, on average | −1.24% | ETFIQ |
| MNA in those weeks, on average | +0.04% | ETFIQ |
| MNA total return over those weeks | +2.7% | ETFIQ |
| T-bills | +3.6% | ETFIQ |
| Listed since | Jan 4, 2010 | ETFIQ |
| Days traded | 90 | ETFIQ |
| Quoted | on an exchange, every trading day | ETFIQ |

## Questions

### Does MNA move with the S&P 500?

Over the year to Sep 18, 2026, MNA’s weekly returns had a correlation of +0.15 with the S&P 500’s, on a scale where 1 moves in step, 0 shows no pattern and −1 moves opposite. Its beta was +0.03, so for each 1% the index moved it moved about 0.03% the same way.

### What did MNA do when stocks fell?

The S&P 500 fell in 22 of the 52 weeks to Sep 18, 2026, by 1.24% on average. In those weeks MNA rose 0.04% on average, a down-week capture of −3.1%.

### Did MNA earn more than cash?

Over the same 52 weeks MNA returned +2.7% with distributions reinvested, and BIL, a fund of Treasury bills, returned +3.6%. MNA finished 0.9 percentage points behind it.

### What does MNA cost?

The prospectus expense ratio is 0.78% a year.

### Why is MNA listed as event driven?

ETFIQ files each fund by what its own prospectus says it does, and MNA’s, filed Aug 26, 2026, describes an event driven fund.


## Cite this page

ETFIQ, MNA, data as of Sep 18, 2026. https://etfiq.com/funds/mna
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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