MNA vs QQQ
NYLI Merger Arbitrage ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | MNA | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.77% | 0.18% | |
| AUM | $253M | $496.3B | |
| Dividend Yield | 0.00% | 0.44% | |
| Holdings | 92 | 108 | |
| YTD Return | +2.59% | +16.23% | |
| 1Y Return | +3.19% | +26.23% | |
| 3Y Return (annualized) | +5.78% | +25.75% | |
| 5Y Return (annualized) | +2.45% | +14.78% | |
| Volatility (annualized) | 4.8% | 30.6% | |
| Max Drawdown | -16.7% | -83.0% | |
| Fund Family | INDEXIQ ETF TRUST | Invesco (US) | |
| Category | Alternative | Equity | |
| Inception | Nov 17, 2009 | Mar 10, 1999 |
MNA vs QQQ Performance
NYLI Merger Arbitrage ETF (MNA) is a ETF from INDEXIQ ETF TRUST and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year MNA returned +3.19% while QQQ returned +26.23%. Year to date, MNA is up 2.59% versus a gain of 16.23% for QQQ.
Over three years, MNA compounded at +5.78% per year against +25.75% for QQQ; over five years the annualized figures are +2.45% and +14.78% respectively. Across the full 17-year window we track, QQQ has the edge at +13.02% annualized vs +2.71%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 4.8% for MNA. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -16.7% for MNA and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.33. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MNA charges 0.77% per year while QQQ charges 0.18%. On a $10,000 position that is $77 vs $18 annually, a gap of $59 per year that compounds over a long holding period. On income, MNA currently yields 0.00% against 0.44% for QQQ.
Holdings Overlap
MNA and QQQ share 1 holdings out of 152 unique holdings combined, representing a 0.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in MNA | Weight in QQQ | Difference |
|---|---|---|---|
| WBD | 3.01% | 0.29% | 2.72% |
Frequently Asked Questions
Which is cheaper, MNA or QQQ?
MNA has an expense ratio of 0.77% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $59 per year of difference.
Which performed better, MNA or QQQ?
Over the past year MNA returned +3.19% vs +26.23% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (17 years), MNA annualized +2.71% vs +13.02% for QQQ. Past performance does not guarantee future results.
Which is riskier, MNA or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 4.8% for MNA. Worst drawdown: MNA -16.7% vs QQQ -83.0%.
Should I hold both MNA and QQQ?
MNA and QQQ have a monthly-return correlation of 0.33, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MNA and QQQ?
MNA and QQQ share 1 common holdings with a 0.3% weight overlap. Combined, they hold 152 unique securities.
Which pays a higher dividend, MNA or QQQ?
MNA yields 0.00% while QQQ yields 0.44%, so QQQ currently pays the higher dividend yield.
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