# NYLI Merger Arbitrage ETF (MNA): ETF Facts & Distributions

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- Issuer: NY Life Investments · Asset class: Alternatives
- Strategy: Passive Index · Inception: 2009-11-17

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 incl...

## Key Facts

| Metric | Value |
|---|---|
| Price | $36.98 |
| Expense Ratio | 0.75% |
| Assets Under Management | $264.7M |
| NAV | $36.82 |
| Holdings Count | 74 |
| Distribution Yield (TTM) | — |
| Annual Distribution (TTM) | — /share |
| Distribution Frequency | Irregular |
| 52-Week Range | $35.57 – $37.19 |
| Beta | 0.01 |

## Latest Distribution

- Amount: $0.3775 /share
- Ex-date: 2023-12-28
- Pay date: 2024-01-05

## Frequently Asked Questions

### 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 $264.7M 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 is a passive index fund. It tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (MNA's is 0.75%) because there's no security selection cost.

### 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.

### Does MNA pay a dividend?

NYLI Merger Arbitrage ETF (MNA) currently distributes little or no income. Trailing-twelve-month yield is —. Investors looking for income should consider income-focused alternatives. See the Peers tab.

### How often does MNA pay dividends?

NYLI Merger Arbitrage ETF pays dividends Irregular. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page.

### What is MNA's dividend yield?

MNA's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price.

### When is MNA's next ex-dividend date?

The most recently announced ex-dividend date for MNA was 2023-12-28. The next ex-date typically follows Irregular; once announced it appears at the top of the dividend history table on this page.

### How much will MNA's expense ratio cost me over 30 years?

On a $10,000 investment compounding at 7% gross return, a 0.75% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees.

### How does MNA charge its expense ratio?

The expense ratio is deducted in tiny daily slices from MNA's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price.

### Why does MNA cost more than a fund like VOO?

MNA is a passive index fund (current expense ratio 0.75%). Differences from broad-market ETFs like VOO usually come from index licensing fees, asset class (bond funds typically run cheaper than equity), or fund scale (smaller funds spread fixed operating costs across less AUM).

### Are there cheaper alternatives to MNA?

The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as MNA (0.75%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want.

## More on Dividend Data

- Overview (HTML): https://www.dividenddata.com/funds/mna
- Distribution history: https://www.dividenddata.com/funds/mna/dividend
- Holdings & diversification: https://www.dividenddata.com/funds/mna/diversification
- Fees & cheaper alternatives: https://www.dividenddata.com/funds/mna/expenses
- Peer comparison: https://www.dividenddata.com/funds/mna/peers

Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.