MNA vs SCHD
NYLI Merger Arbitrage ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SCHD offers more diversification with 100 holdings.
Side-by-Side Comparison
| Metric | MNA | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.77% | 0.06% | |
| AUM | $252M | $103.7B | |
| Dividend Yield | 1.21% | 3.31% | |
| Holdings | 101 | 104 | |
| YTD Return | +2.17% | +25.62% | |
| 1Y Return | +3.18% | +32.62% | |
| 3Y Return (annualized) | +5.79% | +15.58% | |
| 5Y Return (annualized) | +2.23% | +9.63% | |
| Volatility (annualized) | 4.8% | 13.6% | |
| Max Drawdown | -16.7% | -33.4% | |
| Fund Family | INDEXIQ ETF TRUST | Charles Schwab Asset Management | |
| Category | Alternative | Equity | |
| Inception | Nov 17, 2009 | Oct 20, 2011 |
MNA vs SCHD Performance
NYLI Merger Arbitrage ETF (MNA) is a ETF from INDEXIQ ETF TRUST and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year MNA returned +3.18% while SCHD returned +32.62%. Year to date, MNA is up 2.17% versus a gain of 25.62% for SCHD.
Over three years, MNA compounded at +5.79% per year against +15.58% for SCHD; over five years the annualized figures are +2.23% and +9.63% respectively. Across the full 15-year window we track, SCHD has the edge at +11.47% annualized vs +2.69%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% 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 -33.4% for SCHD. 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 0.35. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MNA charges 0.77% per year while SCHD charges 0.06%. On a $10,000 position that is $77 vs $6 annually, a gap of $71 per year that compounds over a long holding period. On income, MNA currently yields 1.21% against 3.31% for SCHD.
Holdings Overlap
MNA and SCHD share 0 holdings out of 160 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, MNA or SCHD?
MNA has an expense ratio of 0.77% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $71 per year of difference.
Which performed better, MNA or SCHD?
Over the past year MNA returned +3.18% vs +32.62% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), MNA annualized +2.69% vs +11.47% for SCHD. Past performance does not guarantee future results.
Which is riskier, MNA or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 4.8% for MNA. Worst drawdown: MNA -16.7% vs SCHD -33.4%.
Should I hold both MNA and SCHD?
MNA and SCHD have a monthly-return correlation of 0.35, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MNA and SCHD?
MNA and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 160 unique securities.
Which pays a higher dividend, MNA or SCHD?
MNA yields 1.21% while SCHD yields 3.31%, so SCHD currently pays the higher dividend yield.
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