Key stats
About NYLI Merger Arbitrage ETF
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Inception date
Nov 17, 2009
Structure
Open-Ended Fund
Distributes
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Tax on distributions
Ordinary income
Primary advisor
New York Life Investment Management LLC
Distributor
ALPS Distributors, Inc.
MNA aims to generate returns through a passive strategy that represents the global merger arbitrage activity. The fund takes long positions in stocks that are reported targets of takeovers or acquisitions and other buyout-related transactions. The underlying index seeks to capitalize on the spread between the target companys current market stock price and the price of that stock received by the holder from the buyout transaction. Rather than directly shorting the acquiring name, the fund partially offsets long stakes with broad equity indexes. The resulting net long equity position should aid in keeping correlations low over time, and the approach hopes to reduce expenses since it avoids 100% short positions. Prior to Aug. 28, 2024, the fund name was branded under IndexIQ.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Finance
Technology Services
Mutual fund
Stocks77.72%
Finance19.73%
Technology Services10.32%
Communications5.82%
Utilities5.55%
Non-Energy Minerals5.35%
Health Technology5.21%
Producer Manufacturing5.13%
Consumer Non-Durables3.66%
Commercial Services3.63%
Electronic Technology3.18%
Process Industries2.96%
Transportation2.44%
Distribution Services2.38%
Consumer Services1.87%
Industrial Services0.49%
Bonds, Cash & Other22.28%
Mutual fund13.90%
ETF8.04%
Cash0.33%
Miscellaneous0.01%
Top 10 holdings
Dividends
Dividend payout history