MNA vs. BUFF
Compare and contrast key facts about IQ Merger Arbitrage ETF (MNA) and Innovator Laddered Fund of U.S. Equity Power Buffer ETF (BUFF).
MNA and BUFF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. 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. Both MNA and BUFF 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: MNA or BUFF.
Key characteristics
| MNA | BUFF | |
|---|---|---|
| YTD Return | 4.20% | 8.98% |
| 1Y Return | 5.42% | 13.57% |
| 3Y Return (Ann) | 0.28% | 7.49% |
| 5Y Return (Ann) | 1.23% | 3.84% |
| Sharpe Ratio | 0.87 | 2.25 |
| Daily Std Dev | 5.07% | 6.01% |
| Max Drawdown | -16.68% | -46.23% |
| Current Drawdown | -1.97% | -0.05% |
Correlation
The correlation between MNA and BUFF 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.
Performance
MNA vs. BUFF - Performance Comparison
In the year-to-date period, MNA achieves a 4.20% return, which is significantly lower than BUFF's 8.98% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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MNA vs. BUFF - Expense Ratio Comparison
MNA has a 0.77% expense ratio, which is lower than BUFF's 0.99% expense ratio.
Risk-Adjusted Performance
MNA vs. BUFF - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ Merger Arbitrage ETF (MNA) and Innovator Laddered Fund of U.S. Equity Power Buffer ETF (BUFF). 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
MNA vs. BUFF - Dividend Comparison
MNA's dividend yield for the trailing twelve months is around 1.15%, while BUFF has not paid dividends to shareholders.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MNA IQ Merger Arbitrage ETF | 1.15% | 1.20% | 0.00% | 0.00% | 2.30% | 0.00% | 0.00% | 0.00% | 0.21% | 0.87% | 0.00% | 0.99% |
BUFF Innovator Laddered Fund of U.S. Equity Power Buffer ETF | 0.00% | 0.00% | 0.00% | 0.00% | 1.78% | 1.67% | 1.74% | 1.55% | 0.18% | 0.00% | 0.00% | 0.00% |
Drawdowns
MNA vs. BUFF - Drawdown Comparison
The maximum MNA drawdown since its inception was -16.68%, smaller than the maximum BUFF drawdown of -46.23%. Use the drawdown chart below to compare losses from any high point for MNA and BUFF. For additional features, visit the drawdowns tool.
Volatility
MNA vs. BUFF - Volatility Comparison
The current volatility for IQ Merger Arbitrage ETF (MNA) is 0.86%, while Innovator Laddered Fund of U.S. Equity Power Buffer ETF (BUFF) has a volatility of 2.73%. This indicates that MNA experiences smaller price fluctuations and is considered to be less risky than BUFF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.