BUFF vs. MNA
Compare and contrast key facts about Innovator Laddered Fund of U.S. Equity Power Buffer ETF (BUFF) and IQ Merger Arbitrage ETF (MNA).
BUFF and MNA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BUFF is a passively managed fund by Innovator that tracks the performance of the Refinitiv Laddered Power Buffer Strategy Index. It was launched on Oct 20, 2016. MNA is a passively managed fund by New York Life that tracks the performance of the IQ Merger Arbitrage Index. It was launched on Nov 17, 2009. Both BUFF and MNA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BUFF or MNA.
Correlation
The correlation between BUFF and MNA is 0.38, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
BUFF vs. MNA - Performance Comparison
Key characteristics
BUFF:
0.59
MNA:
2.74
BUFF:
0.89
MNA:
4.21
BUFF:
1.15
MNA:
1.59
BUFF:
0.58
MNA:
1.57
BUFF:
2.67
MNA:
29.50
BUFF:
2.20%
MNA:
0.41%
BUFF:
10.08%
MNA:
4.45%
BUFF:
-46.23%
MNA:
-16.68%
BUFF:
-4.69%
MNA:
-0.17%
Returns By Period
In the year-to-date period, BUFF achieves a -2.36% return, which is significantly lower than MNA's 4.88% return.
BUFF
-2.36%
-0.34%
-1.31%
5.84%
10.52%
N/A
MNA
4.88%
0.76%
5.30%
11.62%
2.66%
2.24%
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BUFF vs. MNA - Expense Ratio Comparison
BUFF has a 0.99% expense ratio, which is higher than MNA's 0.77% expense ratio.
Risk-Adjusted Performance
BUFF vs. MNA — Risk-Adjusted Performance Rank
BUFF
MNA
BUFF vs. MNA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Laddered Fund of U.S. Equity Power Buffer ETF (BUFF) and IQ Merger Arbitrage ETF (MNA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
BUFF vs. MNA - Dividend Comparison
Neither BUFF nor MNA has paid dividends to shareholders.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
BUFF Innovator Laddered Fund of U.S. Equity Power Buffer ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.78% | 1.68% | 1.74% | 1.55% | 0.18% | 0.00% |
MNA IQ Merger Arbitrage ETF | 0.00% | 0.00% | 1.20% | 0.00% | 0.00% | 2.30% | 0.00% | 0.00% | 0.00% | 0.21% | 0.87% |
Drawdowns
BUFF vs. MNA - Drawdown Comparison
The maximum BUFF drawdown since its inception was -46.23%, which is greater than MNA's maximum drawdown of -16.68%. Use the drawdown chart below to compare losses from any high point for BUFF and MNA. For additional features, visit the drawdowns tool.
Volatility
BUFF vs. MNA - Volatility Comparison
Innovator Laddered Fund of U.S. Equity Power Buffer ETF (BUFF) has a higher volatility of 8.20% compared to IQ Merger Arbitrage ETF (MNA) at 2.69%. This indicates that BUFF's price experiences larger fluctuations and is considered to be riskier than MNA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.