MNA vs. DFND ETF Comparison

Comparison of IQ Merger Arbitrage ETF (MNA) to Realty Shares DIVCON Dividend Defender ETF (DFND)

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

$31.76

Average Daily Volume

39,461

Number of Holdings ^*

* may have additional holdings in another (foreign) market

DFND

Realty Shares DIVCON Dividend Defender ETF

DFND Description

The investment seeks long-term capital appreciation by tracking the performance, before fees and expenses, of the Reality Shares DIVCON Dividend Defender Index. The index is designed to select the companies for a long position that have the highest probability of increasing their dividend in a 12-month period and select the companies for a short position that have the highest probability of decreasing their dividend in a 12-month period. Under normal circumstances, at least 80% of the fund's assets (other than collateral held from securities lending, if any) will be invested in component securities of the benchmark index. It is non-diversified.

Grade (RS Rating)

Last Trade

$38.58

Average Daily Volume

345

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MNA	DFND
30 Days	1.42%	-1.94%
60 Days	1.91%	-3.53%
90 Days	1.68%	-8.01%
12 Months	3.17%	8.06%

1 Overlapping Holdings

	Symbol	Grade	Weight in MNA	Weight in DFND	Overlap
	IP	C	-3.74%	-1.91%	-3.74%

MNA Overweight 43 Positions Relative to DFND

Symbol	Grade	Weight
DFS	B	6.57%
ANSS	C	6.39%
X	C	6.29%
ETRN	D	6.21%
CTLT	B	5.66%
JNPR	B	4.93%
HCP	A	4.54%
MRO	B	3.35%
AIRC	A	2.85%
SWN	D	2.77%
CERE	C	2.65%
ALE	C	2.58%
AXNX	B	2.42%
HIBB	A	2.38%
CHX	C	2.13%
OLK	A	2.06%
WIRE	A	2.01%
PRFT	B	1.99%
IBTX	B	1.47%
VZIO	B	1.15%
MGRC	D	1.14%
SRCL	B	0.89%
AGS	B	0.79%
HAYN	C	0.78%
EVBG	C	0.78%
OSG	A	0.74%
AMK	B	0.72%
HA	C	0.64%
NWLI	A	0.6%
SLCA	B	0.49%
MODN	B	0.44%
HTLF	B	0.35%
SRDX	A	0.31%
FA	C	-0.26%
UMBF	C	-0.36%
WSC	F	-0.46%
AA	B	-0.89%
SSB	D	-1.49%
SLB	D	-2.22%
CHK	D	-2.94%
SNPS	B	-4.1%
EQT	D	-6.21%
COF	D	-7.29%

MNA Underweight 69 Positions Relative to DFND

Symbol	Grade	Weight
KLAC	B	-3.31%
MLM	D	-2.55%
MCHP	C	-2.55%
V	C	-2.5%
MPC	D	-2.49%
VRSK	A	-2.49%
PG	C	-2.45%
CTAS	A	-2.3%
NDSN	D	-2.16%
AMAT	B	-2.15%
SNA	F	-2.08%
MCD	F	-2.06%
FDS	C	-2.01%
MPWR	B	-1.99%
PPG	D	-1.93%
LMT	C	-1.92%
BRO	B	-1.89%
GWW	C	-1.87%
SHW	D	-1.86%
PHM	D	-1.83%
MCO	A	-1.74%
CMI	D	-1.74%
ROK	D	-1.66%
ETN	C	-1.63%
ITW	D	-1.62%
MA	C	-1.61%
MSI	B	-1.58%
ADI	B	-1.58%
J	D	-1.52%
HSY	F	-1.51%
HON	B	-1.46%
DHI	D	-1.37%
CB	C	-1.37%
ALLE	D	-1.35%
AOS	D	-1.33%
CSCO	D	-1.32%
LW	F	-1.27%
AON	C	-1.27%
LIN	C	-1.26%
MMC	B	-1.25%
COST	A	-1.19%
CBOE	D	-1.17%
CME	D	-1.17%
HUBB	C	-1.15%
MSFT	A	-1.15%
MSCI	C	-1.15%
CMCSA	F	-1.09%
ALB	F	-1.02%
AAPL	A	-0.97%
FAST	D	-0.94%
AVGO	B	-0.86%
INTU	A	-0.78%
GL	D	-0.76%
ODFL	C	-0.75%
BR	B	-0.71%
ACN	D	-0.31%
PARA	C	--0.33%
VFC	D	--0.81%
APA	F	--1.14%
INTC	C	--1.43%
DVN	D	--1.45%
NWS	B	--1.9%
LUV	D	--1.94%
T	B	--1.99%
FCX	C	--2.25%
WRK	C	--2.29%
D	C	--2.82%
CNP	B	--2.84%
F	B	--2.87%