DBEF vs. MNA
Compare and contrast key facts about Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) and IQ Merger Arbitrage ETF (MNA).
DBEF and MNA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DBEF is a passively managed fund by DWS that tracks the performance of the MSCI EAFE US Dollar Hedged Index. It was launched on Jun 9, 2011. 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 DBEF 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.
Performance
DBEF vs. MNA - Performance Comparison
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DBEF vs. MNA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBEF Xtrackers MSCI EAFE Hedged Equity ETF | 4.36% | 23.16% | 13.40% | 20.15% | -5.13% | 19.60% | 2.03% | 24.94% | -9.52% | 16.74% |
MNA IQ Merger Arbitrage ETF | 0.89% | 8.59% | 4.93% | 0.18% | -1.61% | -3.24% | 2.72% | 4.70% | 2.13% | 5.97% |
Returns By Period
In the year-to-date period, DBEF achieves a 4.36% return, which is significantly higher than MNA's 0.89% return. Over the past 10 years, DBEF has outperformed MNA with an annualized return of 11.84%, while MNA has yielded a comparatively lower 2.66% annualized return.
DBEF
- 1D
- 1.64%
- 1M
- -2.96%
- YTD
- 4.36%
- 6M
- 10.23%
- 1Y
- 22.76%
- 3Y*
- 17.05%
- 5Y*
- 12.72%
- 10Y*
- 11.84%
MNA
- 1D
- -0.66%
- 1M
- -0.52%
- YTD
- 0.89%
- 6M
- 0.67%
- 1Y
- 5.14%
- 3Y*
- 4.93%
- 5Y*
- 2.06%
- 10Y*
- 2.66%
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DBEF vs. MNA - Expense Ratio Comparison
DBEF has a 0.36% expense ratio, which is lower than MNA's 0.77% expense ratio.
Return for Risk
DBEF vs. MNA — Risk / Return Rank
DBEF
MNA
DBEF vs. MNA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) 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.
| DBEF | MNA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.38 | 1.02 | +0.35 |
Sortino ratioReturn per unit of downside risk | 1.95 | 1.56 | +0.40 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.20 | +0.10 |
Calmar ratioReturn relative to maximum drawdown | 1.92 | 2.39 | -0.47 |
Martin ratioReturn relative to average drawdown | 8.42 | 9.41 | -0.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DBEF | MNA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.38 | 1.02 | +0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.94 | 0.42 | +0.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | 0.41 | +0.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.36 | +0.18 |
Correlation
The correlation between DBEF and MNA is 0.33, 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.
Dividends
DBEF vs. MNA - Dividend Comparison
DBEF's dividend yield for the trailing twelve months is around 5.32%, while MNA has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBEF Xtrackers MSCI EAFE Hedged Equity ETF | 5.32% | 5.55% | 1.29% | 4.46% | 15.85% | 2.28% | 2.41% | 3.03% | 3.22% | 2.98% | 2.55% | 3.70% |
MNA IQ Merger Arbitrage ETF | 0.00% | 0.00% | 0.00% | 1.20% | 0.00% | 0.00% | 2.30% | 0.00% | 0.00% | 0.00% | 0.21% | 0.87% |
Drawdowns
DBEF vs. MNA - Drawdown Comparison
The maximum DBEF drawdown since its inception was -32.46%, which is greater than MNA's maximum drawdown of -16.68%. Use the drawdown chart below to compare losses from any high point for DBEF and MNA.
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Drawdown Indicators
| DBEF | MNA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.46% | -16.68% | -15.78% |
Max Drawdown (1Y)Largest decline over 1 year | -11.87% | -2.21% | -9.66% |
Max Drawdown (5Y)Largest decline over 5 years | -14.95% | -10.74% | -4.21% |
Max Drawdown (10Y)Largest decline over 10 years | -32.46% | -16.68% | -15.78% |
Current DrawdownCurrent decline from peak | -4.33% | -1.12% | -3.21% |
Average DrawdownAverage peak-to-trough decline | -4.77% | -2.86% | -1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.72% | 0.56% | +2.16% |
Volatility
DBEF vs. MNA - Volatility Comparison
Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) has a higher volatility of 5.97% compared to IQ Merger Arbitrage ETF (MNA) at 1.81%. This indicates that DBEF'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.
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Volatility by Period
| DBEF | MNA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.97% | 1.81% | +4.16% |
Volatility (6M)Calculated over the trailing 6-month period | 9.46% | 3.06% | +6.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.60% | 5.04% | +11.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.63% | 4.98% | +8.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.82% | 6.55% | +9.27% |