MNA vs. XMLV ETF Comparison

Comparison of IQ Merger Arbitrage ETF (MNA) to PowerShares S&P MidCap Low Volatility Portfolio (XMLV)

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

$32.78

Average Daily Volume

48,345

Number of Holdings ^*

* may have additional holdings in another (foreign) market

XMLV

PowerShares S&P MidCap Low Volatility Portfolio

XMLV Description

The PowerShares S&P MidCap Low Volatility Portfolio (Fund) is based on the S&P MidCap 400 Low Volatility Index (Index). The Fund generally will invest at least 90% of its total assets in common stocks that comprise the Index. The Index is compiled, maintained and calculated by Standard & Poor's, consisting of 80 out of 400 medium-capitalization range securities from the S&P MidCap 400 Index with the lowest realized volatility over the past 12 months. Volatility is a statistical measurement of the magnitude of up and down asset price fluctuations over time. The Fund and the Index are rebalanced and reconstituted quarterly.

Grade (RS Rating)

Last Trade

$64.32

Average Daily Volume

30,401

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MNA	XMLV
30 Days	-0.33%	4.62%
60 Days	-0.36%	6.78%
90 Days	0.55%	8.41%
12 Months	6.67%	29.36%

1 Overlapping Holdings

	Symbol	Grade	Weight in MNA	Weight in XMLV	Overlap
	ALE	A	2.69%	1.15%	1.15%

MNA Overweight 43 Positions Relative to XMLV

Symbol	Grade	Weight
DFS	B	8.65%
CTLT	C	5.63%
JNPR	D	4.99%
HCP	B	4.36%
FYBR	C	3.64%
MRO	B	3.51%
SMAR	B	3.2%
ALTR	B	3.12%
BALY	B	2.82%
ENV	B	2.59%
K	A	2.47%
AXNX	A	2.39%
AY	A	2.1%
B	A	2.08%
IBTX	B	2.04%
RCM	A	2.01%
SPR	D	1.97%
INFN	D	1.72%
NAPA	A	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%
HAYN	A	0.77%
PFC	B	0.65%
GATO	C	0.41%
CFB	B	0.4%
PGRU	A	0.35%
RVNC	F	0.32%
SRDX	B	0.27%
BUSE	B	-0.42%
WSBC	B	-0.66%
RNST	B	-1.2%
CDE	C	-1.2%
UMBF	B	-1.28%
AUB	B	-1.5%
BA	F	-1.63%
SSB	B	-2.03%
IP	A	-4.24%
COF	C	-9.37%

MNA Underweight 78 Positions Relative to XMLV

Symbol	Grade	Weight
DTM	A	-1.87%
SEIC	B	-1.8%
ATR	B	-1.8%
CW	C	-1.78%
IBKR	A	-1.61%
SF	B	-1.6%
FHI	B	-1.55%
VOYA	B	-1.52%
INGR	C	-1.49%
IDA	A	-1.47%
UNM	A	-1.46%
HLI	A	-1.45%
THG	A	-1.45%
ORI	A	-1.44%
PNM	B	-1.44%
EHC	B	-1.44%
RGA	A	-1.43%
DCI	B	-1.41%
JEF	A	-1.41%
G	B	-1.4%
RLI	A	-1.4%
JHG	B	-1.39%
CACI	D	-1.39%
FLS	B	-1.39%
AM	A	-1.35%
OGE	A	-1.34%
PRI	B	-1.33%
AFG	A	-1.32%
RPM	A	-1.32%
GGG	B	-1.32%
USFD	A	-1.31%
ADC	A	-1.29%
ACM	B	-1.28%
NJR	A	-1.28%
AMG	B	-1.28%
TXRH	B	-1.25%
GLPI	C	-1.23%
SON	F	-1.22%
PPC	C	-1.22%
NWE	B	-1.22%
GNTX	C	-1.22%
OHI	C	-1.21%
SR	A	-1.21%
ELS	C	-1.2%
GEF	A	-1.2%
AMH	C	-1.19%
POST	C	-1.19%
EPR	C	-1.18%
CHE	D	-1.17%
BRX	A	-1.17%
GATX	A	-1.16%
NFG	A	-1.16%
SLGN	A	-1.16%
OGS	A	-1.14%
LSTR	D	-1.13%
BKH	A	-1.13%
SBRA	C	-1.13%
MTG	C	-1.13%
SNX	D	-1.11%
FLO	D	-1.11%
POR	C	-1.1%
EGP	D	-1.09%
ESNT	F	-1.09%
NNN	C	-1.09%
CDP	C	-1.08%
AVT	C	-1.08%
FR	D	-1.07%
MUSA	B	-1.07%
MSA	F	-1.07%
NEU	D	-1.04%
STAG	D	-1.04%
NYT	D	-1.03%
DLB	B	-1.01%
KBR	F	-0.99%
WTRG	B	-0.98%
MMS	F	-0.97%
MAN	F	-0.92%
CHRD	D	-0.87%