IQSI vs. MNA
Compare and contrast key facts about IQ Candriam ESG International Equity ETF (IQSI) and IQ Merger Arbitrage ETF (MNA).
IQSI and MNA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IQSI is a passively managed fund by New York Life that tracks the performance of the IQ Candriam ESG International Equity Index. It was launched on Dec 17, 2019. 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 IQSI 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
IQSI vs. MNA - Performance Comparison
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IQSI vs. MNA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IQSI IQ Candriam ESG International Equity ETF | 2.08% | 26.95% | 4.84% | 16.21% | -14.76% | 12.70% | 10.36% | 0.27% |
MNA IQ Merger Arbitrage ETF | 0.89% | 8.59% | 4.93% | 0.18% | -1.61% | -3.24% | 2.72% | 0.18% |
Returns By Period
In the year-to-date period, IQSI achieves a 2.08% return, which is significantly higher than MNA's 0.89% return.
IQSI
- 1D
- 1.61%
- 1M
- -5.50%
- YTD
- 2.08%
- 6M
- 5.15%
- 1Y
- 21.96%
- 3Y*
- 13.58%
- 5Y*
- 7.48%
- 10Y*
- —
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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IQSI vs. MNA - Expense Ratio Comparison
IQSI has a 0.15% expense ratio, which is lower than MNA's 0.77% expense ratio.
Return for Risk
IQSI vs. MNA — Risk / Return Rank
IQSI
MNA
IQSI vs. MNA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ Candriam ESG International Equity ETF (IQSI) 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.
| IQSI | MNA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.24 | 1.02 | +0.22 |
Sortino ratioReturn per unit of downside risk | 1.79 | 1.56 | +0.24 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.20 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.84 | 2.39 | -0.55 |
Martin ratioReturn relative to average drawdown | 7.16 | 9.41 | -2.25 |
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
| IQSI | MNA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.24 | 1.02 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.42 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.36 | +0.10 |
Correlation
The correlation between IQSI and MNA is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
IQSI vs. MNA - Dividend Comparison
IQSI's dividend yield for the trailing twelve months is around 2.68%, while MNA has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IQSI IQ Candriam ESG International Equity ETF | 2.68% | 2.75% | 2.79% | 2.98% | 2.89% | 2.75% | 1.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
IQSI vs. MNA - Drawdown Comparison
The maximum IQSI drawdown since its inception was -31.90%, which is greater than MNA's maximum drawdown of -16.68%. Use the drawdown chart below to compare losses from any high point for IQSI and MNA.
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Drawdown Indicators
| IQSI | MNA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.90% | -16.68% | -15.22% |
Max Drawdown (1Y)Largest decline over 1 year | -12.00% | -2.21% | -9.79% |
Max Drawdown (5Y)Largest decline over 5 years | -29.86% | -10.74% | -19.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.68% | — |
Current DrawdownCurrent decline from peak | -7.64% | -1.12% | -6.52% |
Average DrawdownAverage peak-to-trough decline | -6.58% | -2.86% | -3.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.08% | 0.56% | +2.52% |
Volatility
IQSI vs. MNA - Volatility Comparison
IQ Candriam ESG International Equity ETF (IQSI) has a higher volatility of 7.48% compared to IQ Merger Arbitrage ETF (MNA) at 1.81%. This indicates that IQSI'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
| IQSI | MNA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.48% | 1.81% | +5.67% |
Volatility (6M)Calculated over the trailing 6-month period | 11.28% | 3.06% | +8.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.72% | 5.04% | +12.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.15% | 4.98% | +11.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.01% | 6.55% | +12.46% |