IFRA vs. MNA ETF Comparison

Comparison of iShares U.S. Infrastructure ETF (IFRA) to IQ Merger Arbitrage ETF (MNA)

IFRA

iShares U.S. Infrastructure ETF

IFRA Description

The investment seeks to track the investment results of the NYSE® FactSet U.S. Infrastructure Index (the "underlying index"), an index composed of equities of U.S. companies that have infrastructure exposure and that could benefit from a potential increase in domestic infrastructure activities. The fund generally will invest at least 90% of its assets in the component securities of the underlying index. The index is designed to measure the performance of equity securities of U.S. companies involved in U.S. focused infrastructure activities. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$49.50

Average Daily Volume

295,900

Number of Holdings ^*

150

* 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

51,086

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IFRA	MNA
30 Days	4.18%	-0.27%
60 Days	9.22%	-0.24%
90 Days	12.40%	0.83%
12 Months	35.24%	6.63%

2 Overlapping Holdings

	Symbol	Grade	Weight in IFRA	Weight in MNA	Overlap
	ALE	A	0.68%	2.67%	0.68%
	HAYN	A	0.51%	0.75%	0.51%

IFRA Overweight 148 Positions Relative to MNA

Symbol	Grade	Weight
VST	B	1.11%
CEG	D	0.91%
CENX	B	0.88%
DTM	B	0.83%
USLM	B	0.81%
ETR	B	0.81%
WMB	B	0.81%
AGX	B	0.8%
NRG	B	0.8%
KMI	B	0.79%
MYRG	B	0.79%
PRIM	B	0.77%
CMP	D	0.77%
KNTK	B	0.76%
MSEX	C	0.73%
OKE	A	0.73%
CNP	B	0.73%
STRL	B	0.73%
ENLC	B	0.73%
ROAD	B	0.72%
PEG	C	0.71%
MGEE	A	0.71%
PNM	B	0.71%
AEE	A	0.71%
XEL	A	0.71%
ATO	A	0.71%
IDA	A	0.71%
MTZ	B	0.71%
NI	A	0.71%
OGE	B	0.7%
AWR	B	0.7%
EME	B	0.69%
CSX	B	0.69%
EVRG	A	0.69%
GBX	A	0.69%
AM	B	0.69%
LXFR	B	0.69%
D	D	0.69%
WEC	B	0.69%
FIX	B	0.69%
OGS	A	0.69%
WTRG	C	0.69%
SO	D	0.68%
AGR	C	0.68%
EXC	C	0.68%
PCG	A	0.68%
NSC	B	0.68%
CPK	A	0.68%
CMS	C	0.68%
PPL	A	0.68%
ARTNA	F	0.67%
LNT	C	0.67%
NWN	B	0.67%
SUM	C	0.67%
SRE	A	0.67%
DTE	D	0.67%
POR	D	0.66%
GLDD	C	0.66%
DUK	D	0.66%
NWE	C	0.66%
NEE	D	0.66%
AEP	D	0.66%
BKH	B	0.66%
PNW	B	0.66%
PWR	B	0.65%
TPC	C	0.65%
LMB	B	0.65%
APOG	B	0.65%
NWPX	B	0.65%
ED	D	0.65%
GVA	B	0.65%
HE	F	0.65%
UTL	C	0.65%
YORW	F	0.65%
AVA	C	0.65%
MLI	B	0.65%
X	C	0.64%
BXC	B	0.64%
EIX	C	0.64%
FE	D	0.64%
SJW	F	0.64%
AWK	D	0.64%
SR	C	0.64%
KNF	C	0.63%
RYI	B	0.63%
FLR	C	0.63%
UNP	C	0.63%
CWT	D	0.63%
ES	D	0.62%
CRS	B	0.62%
AWI	B	0.62%
STLD	B	0.62%
VMI	B	0.62%
NGVT	B	0.62%
EXP	B	0.62%
HEES	B	0.61%
MTRX	B	0.61%
LXU	B	0.61%
TREX	C	0.6%
URI	B	0.6%
ECVT	C	0.6%
VMC	B	0.6%
LPX	B	0.6%
KALU	B	0.59%
MLM	B	0.59%
OC	A	0.59%
ACM	B	0.59%
BCC	B	0.57%
ASTE	B	0.56%
ASIX	B	0.56%
AZEK	B	0.56%
WMS	F	0.56%
CMC	B	0.56%
BLDR	D	0.55%
SWX	B	0.55%
NVEE	C	0.55%
CSL	B	0.55%
OSK	B	0.55%
POOL	D	0.55%
TRN	B	0.55%
ROCK	C	0.54%
SSD	D	0.54%
NFE	F	0.54%
RS	B	0.54%
APG	B	0.54%
EMN	D	0.53%
NUE	C	0.53%
BLD	F	0.53%
TEX	D	0.53%
CLF	D	0.52%
AESI	C	0.51%
J	B	0.51%
ZEUS	C	0.51%
OLN	D	0.51%
MTUS	C	0.5%
WLK	F	0.5%
KOP	C	0.49%
HWKN	C	0.48%
BWMN	C	0.48%
XPEL	C	0.48%
WOR	F	0.47%
ATI	D	0.47%
LYB	F	0.46%
IIIN	D	0.45%
MATV	F	0.45%
NVRI	F	0.34%
MDU	F	0.34%
TTEK	C	0.11%

IFRA Underweight 43 Positions Relative to MNA

Symbol	Grade	Weight
DFS	B	-8.94%
CTLT	D	-5.65%
JNPR	D	-5.04%
HCP	A	-4.32%
FYBR	D	-3.64%
MRO	B	-3.5%
SMAR	A	-3.18%
ALTR	C	-3.09%
BALY	A	-2.77%
INST	B	-2.61%
ENV	B	-2.56%
K	A	-2.44%
AXNX	A	-2.37%
AY	A	-2.08%
IBTX	B	-2.08%
B	A	-2.05%
RCM	B	-1.99%
SPR	F	-1.99%
INFN	C	-1.72%
NAPA	A	-1.58%
EVRI	A	-1.57%
SASR	A	-1.49%
VZIO	D	-1.33%
HTLF	B	-1.27%
FBMS	B	-1.22%
ZUO	B	-1.17%
AGS	A	-0.83%
PFC	B	-0.65%
GATO	C	-0.43%
RVNC	F	-0.43%
CFB	B	-0.41%
PGRU	A	-0.35%
SRDX	C	-0.26%
BUSE	B	--0.42%
WSBC	B	--0.66%
CDE	D	--1.15%
RNST	B	--1.23%
UMBF	B	--1.29%
AUB	B	--1.51%
BA	F	--1.69%
SSB	B	--2.1%
IP	C	--4.38%
COF	B	--9.54%