MNA vs VYM
NYLI Merger Arbitrage ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | MNA | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.77% | 0.04% | |
| AUM | $252M | $79.0B | |
| Dividend Yield | 1.21% | 2.86% | |
| Holdings | 101 | 568 | |
| YTD Return | +2.17% | +16.16% | |
| 1Y Return | +3.18% | +26.05% | |
| 3Y Return (annualized) | +5.79% | +18.43% | |
| 5Y Return (annualized) | +2.23% | +12.21% | |
| Volatility (annualized) | 4.8% | 14.6% | |
| Max Drawdown | -16.7% | -58.8% | |
| Fund Family | INDEXIQ ETF TRUST | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Nov 17, 2009 | Nov 10, 2006 |
MNA vs VYM Performance
NYLI Merger Arbitrage ETF (MNA) is a ETF from INDEXIQ ETF TRUST and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year MNA returned +3.18% while VYM returned +26.05%. Year to date, MNA is up 2.17% versus a gain of 16.16% for VYM.
Over three years, MNA compounded at +5.79% per year against +18.43% for VYM; over five years the annualized figures are +2.23% and +12.21% respectively. Across the full 17-year window we track, VYM has the edge at +7.09% annualized vs +2.69%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% 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 -58.8% for VYM. 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 0.40. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MNA charges 0.77% per year while VYM charges 0.04%. On a $10,000 position that is $77 vs $4 annually, a gap of $73 per year that compounds over a long holding period. On income, MNA currently yields 1.21% against 2.86% for VYM.
Holdings Overlap
MNA and VYM share 11 holdings out of 607 unique holdings combined, representing a 0.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, MNA or VYM?
MNA has an expense ratio of 0.77% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $73 per year of difference.
Which performed better, MNA or VYM?
Over the past year MNA returned +3.18% vs +26.05% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (17 years), MNA annualized +2.69% vs +7.09% for VYM. Past performance does not guarantee future results.
Which is riskier, MNA or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 4.8% for MNA. Worst drawdown: MNA -16.7% vs VYM -58.8%.
Should I hold both MNA and VYM?
MNA and VYM have a monthly-return correlation of 0.40, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MNA and VYM?
MNA and VYM share 11 common holdings with a 0.7% weight overlap. Combined, they hold 607 unique securities.
Which pays a higher dividend, MNA or VYM?
MNA yields 1.21% while VYM yields 2.86%, so VYM currently pays the higher dividend yield.
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