MNA vs. KBE ETF Comparison

Comparison of IQ Merger Arbitrage ETF (MNA) to SPDR S&P Bank ETF (KBE)

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

$32.95

Average Daily Volume

60,238

Number of Holdings ^*

* may have additional holdings in another (foreign) market

KBE

SPDR S&P Bank ETF

KBE Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the performance of publicly traded national money centers and leading regional banks. In seeking to track the performance of the S&P Banks Select Industry Index (the "index"), the fund employs a replication strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the banks industry group of the S&P Total Market Index ("S&P TMI"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$51.33

Average Daily Volume

1,902,124

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MNA	KBE
30 Days	0.67%	-4.12%
60 Days	2.42%	3.43%
90 Days	3.98%	11.95%
12 Months	5.83%	49.44%

5 Overlapping Holdings

Symbol	Grade	Weight in MNA	Weight in KBE	Overlap
IBTX	D	1.82%	0.8%	0.8%
RNST	D	-1.02%	0.82%	-1.02%
SSB	C	-1.85%	1.17%	-1.85%
UMBF	C	-0.88%	1.15%	-0.88%
WSBC	D	-0.41%	0.42%	-0.41%

MNA Overweight 44 Positions Relative to KBE

Symbol	Grade	Weight
DFS	C	6.74%
CTLT	A	5.71%
JNPR	B	5.05%
HCP	B	4.32%
MRO	D	3.16%
SHV	B	2.91%
BALY	A	2.73%
SRCL	B	2.65%
INST	B	2.62%
ALE	A	2.6%
SQSP	A	2.59%
ENV	C	2.56%
AXNX	A	2.34%
CHX	D	2.26%
PWSC	C	2.26%
PRFT	A	2.0%
K	B	1.9%
INFN	C	1.72%
AY	C	1.64%
SPR	D	1.63%
RCM	B	1.6%
EVRI	A	1.52%
SRCL	B	1.26%
VZIO	A	1.25%
TELL	B	1.21%
FBMS	D	1.01%
HTLF	C	0.86%
AGS	B	0.76%
HAYN	B	0.74%
PETQ	A	0.68%
AAN	C	0.63%
CHUY	B	0.44%
PFC	D	0.41%
CFB	D	0.3%
RVNC	F	0.28%
SRDX	D	0.27%
PGRU	A	0.27%
CLF	D	-0.23%
BUSE	D	-0.3%
FA	A	-0.4%
BA	F	-1.38%
SLB	D	-2.3%
IP	C	-3.71%
COF	C	-7.42%

MNA Underweight 87 Positions Relative to KBE

Symbol	Grade	Weight
APO	A	-1.24%
JXN	A	-1.22%
C	B	-1.22%
TBBK	C	-1.21%
VLY	C	-1.2%
WBS	D	-1.2%
FCNCA	D	-1.2%
PNFP	D	-1.19%
MTB	C	-1.19%
EQH	C	-1.19%
WAL	C	-1.19%
COLB	C	-1.19%
AX	D	-1.18%
RF	C	-1.18%
CRBG	C	-1.18%
ABCB	C	-1.18%
WFC	D	-1.18%
PNC	C	-1.18%
KEY	C	-1.18%
CMA	C	-1.18%
BK	C	-1.18%
JPM	D	-1.17%
EWBC	D	-1.17%
FFIN	D	-1.17%
BANC	D	-1.17%
NTRS	C	-1.17%
GBCI	C	-1.17%
WD	C	-1.17%
CFG	D	-1.16%
VOYA	A	-1.16%
USB	C	-1.16%
CFR	D	-1.16%
WTFC	D	-1.16%
HWC	D	-1.16%
BPOP	D	-1.16%
BAC	D	-1.16%
FULT	D	-1.16%
HBAN	D	-1.15%
UBSI	D	-1.15%
OZK	F	-1.15%
ZION	D	-1.15%
FITB	C	-1.15%
MTG	B	-1.15%
FBP	D	-1.15%
TCBI	C	-1.15%
HOMB	D	-1.15%
RDN	D	-1.14%
ESNT	C	-1.14%
TFC	D	-1.14%
NMIH	C	-1.14%
BKU	D	-1.14%
ONB	D	-1.14%
ASB	F	-1.14%
FNB	D	-1.14%
CADE	D	-1.14%
PB	D	-1.13%
CBSH	D	-1.13%
SNV	D	-1.13%
BOH	D	-1.13%
FIBK	D	-1.13%
FHN	D	-1.12%
COOP	B	-1.1%
PFSI	C	-1.1%
RKT	C	-1.1%
AUB	D	-1.05%
EBC	D	-1.03%
PFS	D	-1.0%
BOKF	D	-0.98%
CBU	D	-0.96%
CVBF	B	-0.92%
INDB	D	-0.92%
CATY	D	-0.91%
WAFD	D	-0.91%
UCBI	B	-0.9%
SFBS	D	-0.89%
FHB	D	-0.87%
IBOC	D	-0.85%
WSFS	D	-0.81%
PPBI	F	-0.8%
SBCF	D	-0.75%
BANR	C	-0.69%
HTH	D	-0.66%
SFNC	C	-0.63%
FFBC	D	-0.6%
TRMK	D	-0.58%
FRME	D	-0.55%
LKFN	F	-0.46%