MNA ETF — IQ Merger Arbitrage ETF

IQ Merger Arbitrage ETF (MNA)

Updated October 16, 2026.

MNA is an ETF. its expense ratio is 0.78%. Total return is 56.3% over the past 16.9 years, 769.5 points behind SPY at 825.8%.

IQ Merger Arbitrage ETF is a non-diversified fund that tracks an index of companies involved in announced mergers, acquisitions, and buyout transactions across developed markets, including the U.S., holding at least 80% of assets in these indexed securities. The fund does not currently distribute, though it has made special one-time distributions in the past that should not be relied upon as recurring income. It carries an expense ratio of 0.78% and appeals primarily to investors seeking exposure to merger arbitrage strategies rather than regular income.

MNA performance versus SPY

Price and return data through 2026-10-16.

Total return is 56.3% over the past 16.9 years, 769.5 points behind SPY at 825.8%. Over the past year its total return — price change plus distributions reinvested — is 3.0%. Its deepest 1-year drawdown was 1.4%.

MNA key facts

Issuer

New York Life Investments

Asset type

ETF

Asset class

Equity

Inception date

11/17/2009

Expense ratio

0.78%

Distribution frequency

None

Last close

$36.77 (as of 2026-10-16)

AUM

$259,401,907

Average volume

34246.0

Ex-dividend date

12/28/2023

Payment date

01/05/2024

Beta

0.02

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: New York Life Investments; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

MNA risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 1.4%.

Who may consider MNA — and who may not

It is a weaker fit for investors who need monthly cash flow (MNA does not currently distribute); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on MNA

• All tickers starting with M

Frequently asked questions

More securities from New York Life Investments.