MNA vs VOO
NYLI Merger Arbitrage ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | MNA | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.77% | 0.03% | |
| AUM | $252M | $979.0B | |
| Dividend Yield | 1.21% | 1.09% | |
| Holdings | 101 | 509 | |
| YTD Return | +2.17% | +13.44% | |
| 1Y Return | +3.18% | +22.62% | |
| 3Y Return (annualized) | +5.79% | +21.47% | |
| 5Y Return (annualized) | +2.23% | +13.27% | |
| Volatility (annualized) | 4.8% | 14.1% | |
| Max Drawdown | -16.7% | -34.3% | |
| Fund Family | INDEXIQ ETF TRUST | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Nov 17, 2009 | Sep 7, 2010 |
MNA vs VOO Performance
NYLI Merger Arbitrage ETF (MNA) is a ETF from INDEXIQ ETF TRUST and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year MNA returned +3.18% while VOO returned +22.62%. Year to date, MNA is up 2.17% versus a gain of 13.44% for VOO.
Over three years, MNA compounded at +5.79% per year against +21.47% for VOO; over five years the annualized figures are +2.23% and +13.27% respectively. Across the full 16-year window we track, VOO has the edge at +13.55% annualized vs +2.69%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% 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 -34.3% for VOO. 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 0.39. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MNA charges 0.77% per year while VOO charges 0.03%. On a $10,000 position that is $77 vs $3 annually, a gap of $74 per year that compounds over a long holding period. On income, MNA currently yields 1.21% against 1.09% for VOO.
Holdings Overlap
MNA and VOO share 6 holdings out of 559 unique holdings combined, representing a 0.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, MNA or VOO?
MNA has an expense ratio of 0.77% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $74 per year of difference.
Which performed better, MNA or VOO?
Over the past year MNA returned +3.18% vs +22.62% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), MNA annualized +2.69% vs +13.55% for VOO. Past performance does not guarantee future results.
Which is riskier, MNA or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 4.8% for MNA. Worst drawdown: MNA -16.7% vs VOO -34.3%.
Should I hold both MNA and VOO?
MNA and VOO have a monthly-return correlation of 0.39, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MNA and VOO?
MNA and VOO share 6 common holdings with a 0.4% weight overlap. Combined, they hold 559 unique securities.
Which pays a higher dividend, MNA or VOO?
MNA yields 1.21% while VOO yields 1.09%, so MNA currently pays the higher dividend yield.
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