FDM vs. MNA ETF Comparison

Comparison of First Trust DJ Select MicroCap ETF (FDM) to IQ Merger Arbitrage ETF (MNA)

FDM

First Trust DJ Select MicroCap ETF

FDM Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Dow Jones Select MicroCap Index(SM) (the "index"). The fund will normally invest at least 80% of its net assets plus the amount of any borrowings for investment purposes in common stocks of U.S. micro-capitalization companies which are publicly traded in the United States. The index is comprised of selected U.S. micro-capitalization companies chosen from all common stocks traded on the NewYork Stock Exchange, the NYSE MKT and NASDAQ(R) with limited partnerships excluded.

Grade (RS Rating)

Last Trade

$72.18

Average Daily Volume

14,647

Number of Holdings ^*

131

* 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

$32.80

Average Daily Volume

49,131

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FDM	MNA
30 Days	12.40%	-0.18%
60 Days	13.48%	-0.27%
90 Days	12.98%	0.61%
12 Months	31.66%	6.73%

1 Overlapping Holdings

	Symbol	Grade	Weight in FDM	Weight in MNA	Overlap
	HAYN	C	1.34%	0.77%	0.77%

FDM Overweight 130 Positions Relative to MNA

Symbol	Grade	Weight
LEU	C	1.98%
TPB	B	1.79%
VMEO	B	1.78%
LMB	A	1.59%
ASTE	B	1.48%
BJRI	B	1.47%
CPF	A	1.46%
GLDD	B	1.42%
IBCP	B	1.38%
ASIX	A	1.38%
HCKT	B	1.35%
MLR	B	1.34%
NBN	B	1.16%
ETD	C	1.15%
ANET	C	1.14%
RGR	F	1.13%
PTLO	F	1.13%
IMXI	B	1.13%
MCB	B	1.1%
SMBC	B	1.08%
EZPW	A	1.08%
SPTN	D	1.06%
SNCY	C	1.05%
SWBI	C	1.02%
PLOW	D	1.01%
DAKT	B	1.01%
UVE	B	1.0%
WLFC	B	0.99%
LQDT	B	0.97%
EGY	D	0.96%
WLDN	D	0.96%
NWPX	A	0.92%
CCBG	B	0.92%
LYTS	B	0.92%
MPB	B	0.88%
SHBI	A	0.86%
KELYA	F	0.85%
CSV	B	0.85%
KE	C	0.85%
AROW	B	0.84%
EE	A	0.82%
DHIL	A	0.82%
ESQ	A	0.82%
MOFG	A	0.82%
NRIM	A	0.81%
ARKO	C	0.8%
TIPT	B	0.8%
LINC	B	0.79%
TTI	C	0.79%
LXU	B	0.78%
TRDA	B	0.77%
CCSI	C	0.77%
HNRG	B	0.75%
FISI	A	0.73%
FC	F	0.71%
FMAO	B	0.7%
ITIC	B	0.7%
PLPC	B	0.69%
BSRR	B	0.69%
WRLD	C	0.68%
CMPO	A	0.68%
NPK	B	0.68%
NECB	B	0.67%
USAP	B	0.67%
DCGO	C	0.65%
GLRE	B	0.65%
TCMD	A	0.65%
SD	D	0.65%
CWCO	C	0.64%
LGTY	D	0.63%
ODC	C	0.62%
RMR	F	0.62%
OPY	B	0.62%
CENT	C	0.61%
NGVC	A	0.6%
NEWT	B	0.6%
KODK	B	0.59%
INBK	B	0.57%
ARTNA	D	0.56%
REPX	A	0.55%
ACIC	B	0.55%
CCRN	F	0.55%
SENEA	B	0.53%
LOCO	D	0.53%
MOV	C	0.53%
HVT	D	0.52%
LEGH	D	0.5%
RM	D	0.48%
MCFT	B	0.47%
VPG	D	0.46%
PKOH	B	0.46%
SIGA	F	0.45%
AMPY	C	0.44%
HRTG	C	0.44%
CRCT	F	0.44%
FSTR	B	0.43%
TASK	C	0.41%
NGS	B	0.41%
PWOD	A	0.37%
VLGEA	B	0.37%
KRT	A	0.36%
FLXS	B	0.35%
MITT	D	0.35%
NATR	C	0.34%
JILL	C	0.33%
SGC	C	0.33%
LSEA	D	0.33%
JRVR	F	0.31%
REI	D	0.3%
EML	D	0.29%
RCKY	F	0.28%
EARN	C	0.28%
ACTG	D	0.28%
ESOA	A	0.27%
AVNW	F	0.27%
BTMD	C	0.26%
VIRC	B	0.25%
FF	D	0.24%
ACU	B	0.24%
PEBK	B	0.24%
TAYD	D	0.24%
LAKE	B	0.24%
TWIN	F	0.23%
BBCP	C	0.23%
HBB	F	0.21%
LWAY	D	0.2%
FEIM	B	0.19%
INTT	C	0.16%
KEQU	C	0.14%
CSPI	C	0.14%

FDM Underweight 43 Positions Relative to MNA

Symbol	Grade	Weight
DFS	B	-8.65%
CTLT	B	-5.63%
JNPR	F	-4.99%
HCP	B	-4.36%
FYBR	D	-3.64%
MRO	B	-3.51%
SMAR	A	-3.2%
ALTR	B	-3.12%
BALY	C	-2.82%
ALE	A	-2.69%
ENV	B	-2.59%
K	A	-2.47%
AXNX	C	-2.39%
AY	B	-2.1%
B	B	-2.08%
IBTX	B	-2.04%
RCM	F	-2.01%
SPR	D	-1.97%
INFN	C	-1.72%
NAPA	B	-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%
PFC	A	-0.65%
GATO	D	-0.41%
CFB	B	-0.4%
PGRU	A	-0.35%
RVNC	F	-0.32%
SRDX	B	-0.27%
BUSE	B	--0.42%
WSBC	A	--0.66%
RNST	B	--1.2%
CDE	D	--1.2%
UMBF	B	--1.28%
AUB	B	--1.5%
BA	F	--1.63%
SSB	B	--2.03%
IP	B	--4.24%
COF	B	--9.37%