MNA vs. MISL ETF Comparison

Comparison of IQ Merger Arbitrage ETF (MNA) to First Trust Indxx Aerospace & Defense ETF (MISL)

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

$32.93

Average Daily Volume

62,649

Number of Holdings ^*

6

* may have additional holdings in another (foreign) market

MISL

First Trust Indxx Aerospace & Defense ETF

MISL Description

The First Trust Indxx Aerospace & Defense ETF seeks investment results that correspond generally to the price and yield, before fees and expenses, of an equity index called the Indxx US Aerospace & Defense Index (the "Index"). Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in the common stocks that comprise the Index.

Grade (RS Rating)

Last Trade

$32.19

Average Daily Volume

19,647

Number of Holdings ^*

10

* may have additional holdings in another (foreign) market

Performance

Period	MNA	MISL
30 Days	0.70%	3.79%
60 Days	2.68%	12.03%
90 Days	3.67%	15.27%
12 Months	6.07%	51.98%

0 Overlapping Holdings

	Symbol	Grade	Weight in MNA	Weight in MISL	Overlap

MNA Overweight 6 Positions Relative to MISL

	Symbol	Grade	Weight
	COF	A	7.41%
	DFS	A	6.86%
	CTLT	A	5.8%
	JNPR	C	5.07%
	HCP	A	4.34%
	IP	C	3.67%

MNA Underweight 10 Positions Relative to MISL

	Symbol	Grade	Weight
	LMT	A	-8.83%
	RTX	A	-8.72%
	TDG	A	-7.93%
	GD	C	-7.58%
	BA	F	-6.83%
	HWM	A	-4.42%
	NOC	B	-4.34%
	HEI	C	-4.07%
	LDOS	A	-3.79%
	TXT	F	-3.67%

MNA: Top Represented Industries & Keywords

Industries: Credit Services Communication Equipment Drug Manufacturers - Specialty & Generic Packaging & Containers Software - Infrastructure

Keywords: S&P 500 Bank Computing Biologic Product Biologic Products Biopharmaceutical Biotechnology Business Process Management Catalent Clinical Services Coated Paper Commercial Bank Commercial Banking Computer Networking Computer Software Configuration Management Consumer Banking Products Consumer Health Products Containerboard Credit Card

MISL: Top Represented Industries & Keywords

Industries: Aerospace & Defense Information Technology Services Specialty Industrial Machinery

Keywords: S&P 500 Aerospace Space Systems Aviation Electronics Weapons Aerospace Systems Avionics Business Aviation Combat Systems Communications Systems Defense Systems Information Technology Solutions Laser Manned Aircraft Mission Systems Navigation Systems Radar Simulation System Simulation Systems