BPAY vs. MNA ETF Comparison

Comparison of BlackRock Future Financial and Technology ETF (BPAY) to IQ Merger Arbitrage ETF (MNA)

BPAY

BlackRock Future Financial and Technology ETF

BPAY Description

The BlackRock Future Financial Technology ETF seeks to maximize total return by investing in the companies delivering innovative and emerging technologies used in the financial services industry.

Grade (RS Rating)

Last Trade

$26.85

Average Daily Volume

205

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MNA

IQ Merger Arbitrage ETF

MNA Description

The investment seeks investment results that correspond generally to the price and yield performance of its underlying index, the IQ Merger Arbitrage Index. The fund employs a "passive management" to track the performance of the underlying index, which was developed by Financial Development Holdco LLC ("IndexIQ"). 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. It is non-diversified.

Grade (RS Rating)

Last Trade

$32.78

Average Daily Volume

48,345

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	BPAY	MNA
30 Days	5.10%	-0.33%
60 Days	7.31%	-0.36%
90 Days	8.71%	0.55%
12 Months	31.95%	6.67%

2 Overlapping Holdings

	Symbol	Grade	Weight in BPAY	Weight in MNA	Overlap
	COF	C	6.07%	-9.37%	-9.37%
	DFS	B	6.11%	8.65%	6.11%

BPAY Overweight 20 Positions Relative to MNA

Symbol	Grade	Weight
SYF	B	6.05%
SCHW	B	5.15%
GPN	B	5.0%
PYPL	B	4.92%
FI	A	4.5%
WEX	D	3.25%
SQ	A	2.98%
FOUR	A	2.87%
AXP	A	2.62%
RPAY	D	2.53%
FIS	C	2.49%
PAYO	A	2.49%
AX	B	2.32%
NU	C	2.24%
LOB	C	1.6%
CCB	A	1.45%
MA	B	1.15%
HCI	C	1.15%
V	A	1.14%
BLND	A	1.02%

BPAY Underweight 42 Positions Relative to MNA

Symbol	Grade	Weight
CTLT	C	-5.63%
JNPR	D	-4.99%
HCP	B	-4.36%
FYBR	C	-3.64%
MRO	B	-3.51%
SMAR	B	-3.2%
ALTR	B	-3.12%
BALY	B	-2.82%
ALE	A	-2.69%
ENV	B	-2.59%
K	A	-2.47%
AXNX	A	-2.39%
AY	A	-2.1%
B	A	-2.08%
IBTX	B	-2.04%
RCM	A	-2.01%
SPR	D	-1.97%
INFN	D	-1.72%
NAPA	A	-1.6%
EVRI	A	-1.59%
SASR	B	-1.5%
VZIO	A	-1.31%
HTLF	B	-1.25%
FBMS	B	-1.19%
ZUO	B	-1.18%
AGS	A	-0.84%
HAYN	A	-0.77%
PFC	B	-0.65%
GATO	C	-0.41%
CFB	B	-0.4%
PGRU	A	-0.35%
RVNC	F	-0.32%
SRDX	B	-0.27%
BUSE	B	--0.42%
WSBC	B	--0.66%
RNST	B	--1.2%
CDE	C	--1.2%
UMBF	B	--1.28%
AUB	B	--1.5%
BA	F	--1.63%
SSB	B	--2.03%
IP	A	--4.24%