MNA vs. HDG
Compare and contrast key facts about IQ Merger Arbitrage ETF (MNA) and ProShares Hedge Replication (HDG).
MNA and HDG 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. HDG is a passively managed fund by ProShares that tracks the performance of the Merrill Lynch Factor Model - Exchange Series. It was launched on Jul 12, 2011. Both MNA and HDG 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 HDG.
Correlation
The correlation between MNA and HDG is 0.35, 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. HDG - Performance Comparison
Key characteristics
MNA:
1.27
HDG:
1.07
MNA:
1.83
HDG:
1.53
MNA:
1.24
HDG:
1.20
MNA:
0.65
HDG:
0.96
MNA:
5.55
HDG:
7.13
MNA:
0.93%
HDG:
0.80%
MNA:
4.06%
HDG:
5.31%
MNA:
-16.68%
HDG:
-15.31%
MNA:
-1.55%
HDG:
-1.52%
Returns By Period
The year-to-date returns for both investments are quite close, with MNA having a 4.65% return and HDG slightly higher at 4.88%. Over the past 10 years, MNA has underperformed HDG with an annualized return of 2.14%, while HDG has yielded a comparatively higher 2.51% annualized return.
MNA
4.65%
0.61%
5.42%
4.97%
0.63%
2.14%
HDG
4.88%
-0.66%
3.10%
5.24%
2.64%
2.51%
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MNA vs. HDG - Expense Ratio Comparison
MNA has a 0.77% expense ratio, which is lower than HDG's 0.95% expense ratio.
Risk-Adjusted Performance
MNA vs. HDG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ Merger Arbitrage ETF (MNA) and ProShares Hedge Replication (HDG). 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. HDG - Dividend Comparison
MNA's dividend yield for the trailing twelve months is around 1.15%, less than HDG's 2.46% yield.
| 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% |
HDG ProShares Hedge Replication | 2.46% | 3.48% | 0.39% | 0.00% | 0.08% | 1.09% | 0.52% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
MNA vs. HDG - Drawdown Comparison
The maximum MNA drawdown since its inception was -16.68%, which is greater than HDG's maximum drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for MNA and HDG. For additional features, visit the drawdowns tool.
Volatility
MNA vs. HDG - Volatility Comparison
The current volatility for IQ Merger Arbitrage ETF (MNA) is 0.79%, while ProShares Hedge Replication (HDG) has a volatility of 1.24%. This indicates that MNA experiences smaller price fluctuations and is considered to be less risky than HDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.