NYLI Merger Arbitrage ETF
MNA
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 51 Madison Avenue New York NY United States of America 10010
- IPO Date
- Nov 17, 2009
- CIK
- 0001415995
- Website
- newyorklifeinvestments.com
- Similar Companies
- Business
- NYLI Merger Arbitrage ETF (MNA) is an exchange-traded fund that seeks investment results tracking the price and yield performance, before fees and expenses, of the NYLI Merger Arbitrage Index. The fund employs a passive, rules-based merger arbitrage strategy by investing primarily in global companies that are announced takeover targets; for stock-swap transactions, it includes short exposure to the acquirer stock or relevant equity indices as a partial hedge; the approach targets capital appreciation from deal completion spreads while providing low correlation to broader equity markets and serving as a diversification tool in alternatives allocations. Issued by New York Life Investments, a division of New York Life Insurance Company headquartered in New York, New York, the ETF was originally launched on November 17, 2009, and trades on the NYSE Arca exchange with total net assets of approximately $253 million as of late 2025. The fund's portfolio features long positions in diverse takeover targets across sectors and regions, including Walgreens Boots Alliance Inc., Kellanova, Frontier Communications Parent Inc., The AZEK Co Inc., Omnicom Group Inc., Subsea 7 SA, The Interpublic Group of Companies Inc., Innergex Renewable Energy Inc., Dun & Bradstreet Holdings Inc., and Just Eat Takeaway.com NV, among others spanning U.S., Canadian, European, and Asian markets; short positions hedge against acquirer equities or indices; holdings emphasize developed market M&A activity with approximately 58 positions and a weighted average market cap of $8.75 billion. MNA operates globally with exposure to mergers in North America, Europe, Asia-Pacific, and other developed regions, targeting institutional and retail investors seeking event-driven alternatives, volatility dampening, and tax-efficient access to merger premiums. The expense ratio stands at 0.77%, with monthly distributions intended from net investment income. In a key rebranding effort, New York Life Investments renamed the fund from IQ Merger Arbitrage ETF to NYLI Merger Arbitrage ETF effective August 12, 2024, as part of a broader consolidation of its MainStay and legacy IndexIQ ETF lineup under the unified NYLI brand to enhance recognizability and alignment. This followed New York Life Investment Management's 2015 acquisition of IndexIQ, the ETF's originator, integrating it into the firm's specialized ETF offerings that blend passive and active strategies. Amid thriving global M&A activity in 2025, with 49 megadeals exceeding $10 billion announced year-to-date, MNA has benefited from heightened deal flow, posting year-to-date gains of approximately 8.6% to 9.82% and recently achieving a new 52-week high, underscoring its relevance in the current environment.