NYLI Merger Arbitrage ETF

Frequently Asked Questions About MNA

What does MNA invest in?

The NYLI Merger Arbitrage ETF (MNA) is designed to replicate the price and yield performance of its benchmark, the NYLI Merger Arbitrage Index, prior to accounting for fund expenses. The Index itself aims for capital appreciation by strategically investing in companies worldwide that have publicly announced an acquisition offer. This distinct, passive methodology involves owning shares in these identified takeover targets, with the objective of generating returns characteristic of global merger arbitrage operations. Furthermore, in transactions involving an exchange of stock, the Index includes a short position in the acquirer's shares anticipated to be received by the target company's stockholders.

What is the expense ratio of MNA?

NYLI Merger Arbitrage ETF (MNA) charges an expense ratio of 0.75%. This is the annual fee deducted from fund assets to cover management and operations.

How big is MNA?

NYLI Merger Arbitrage ETF (MNA) manages $251.4M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is MNA actively managed or an index fund?

MNA's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

When was MNA launched?

NYLI Merger Arbitrage ETF (MNA) launched in November 2009 and is managed by NY Life Investments.

How has MNA performed?

MNA's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.