MNA vs CNRG

Comparison between NYLI MERGER ARBITRAGE ETF (MNA, ETF) and STATE STREET(R) SPDR(R) S&P KENSHO CLEAN POWER ETF (CNRG, ETF).

5-Year PerformanceMNA has outperformed CNRG, delivering a return of +2.1% compared to +0.8%

MNA vs CNRG - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	MNA(ETF)	CNRG(ETF)
Net Assets	$251M	$250M
Expense Ratio	0.77%	0.45%
Max Drawdown	16.68%	70.04%
Sharpe Ratio	-0.02	1.16
5Y Beta	0.10	1.37
P/E Ratio	105.68	-26.50
Forward P/E	14.46	20.46
5Y Dividends CAGR	N/A	7.40%
5Y EPS CAGR	N/A	14.53%
Debt to Equity	109.32%	68.31%
P/S Ratio	1.45	0.26
P/B Ratio	2.62	1.51

Net Assets

Winner

MNA

$251M

CNRG

$250M

Expense Ratio

MNA

0.77%

Winner

CNRG

0.45%

Max Drawdown

Winner

MNA

16.68%

CNRG

70.04%

Sharpe Ratio

MNA

-0.02

Winner

CNRG

1.16

5Y Beta

Winner

MNA

0.10

CNRG

1.37

P/E Ratio

MNA

105.68

Winner

CNRG

-26.50

Forward P/E

Winner

MNA

14.46

CNRG

20.46

5Y Dividends CAGR

MNA

N/A

CNRG

7.40%

5Y EPS CAGR

MNA

N/A

CNRG

14.53%

Debt to Equity

MNA

109.32%

Winner

CNRG

68.31%

P/S Ratio

MNA

1.45

Winner

CNRG

0.26

P/B Ratio

MNA

2.62

Winner

CNRG

1.51

MNA vs CNRG - Holdings Comparison

MNA and CNRG have 4 common holdings. Overlap is -0.93%

MNA's top 25 holdings weight is 75.33%. CNRG's top 25 holdings weight is 73.02%.

Rank	MNA	CNRG
#1	TECK RESOURCES LTD CLASS B (SUB VOTING) (n/a) - 4.78%	FUELCELL ENERGY INC (FCEL) - 3.58%
#2	NORFOLK SOUTHERN CORP (NSC) - 4.14%	SHOALS TECHNOLOGIES GROUP INC ORDINARY SHARES CLASS A (SHLS) - 3.56%
#3	ELECTRONIC ARTS INC (EA) - 3.88%	GE VERNOVA INC (GEV) - 3.48%
#4	REC BKH US SMS (n/a) - 3.72%	ARCOSA INC (ACA) - 3.38%
#5	PAY NEE US SMS (n/a) - 3.67%	TRANSALTA CORP (n/a) - 3.15%
#6	DOMINION ENERGY INC (D) - 3.59%	SUNRUN INC (RUN) - 3.07%
#7	NORTHWESTERN ENERGY GROUP INC (NWE) - 3.59%	CONSTELLATION ENERGY CORP (CEG) - 3.05%
#8	CHART INDUSTRIES INC (GTLS) - 3.53%	CIA ENERGETICA DE MINAS GERAIS CEMIG ADR (CIG) - 3.02%
#9	REC UNP US SMS (n/a) - 3.52%	NEXTERA ENERGY INC (NEE) - 3.00%
#10	CAESARS ENTERTAINMENT INC (CZR) - 3.13%	CANADIAN SOLAR INC (CSIQ) - 2.98%
#11	n/a (WBD) - 3.12%	AXIA ENERGIA ADR (AXIA) - 2.92%
#12	KENVUE INC (KVUE) - 3.06%	BLOOM ENERGY CORP CLASS A (BE) - 2.92%
#13	THE AES CORP (AES) - 3.04%	THE AES CORP (AES) - 2.90%
#14	ARC RESOURCES LTD (n/a) - 2.86%	ENLIGHT RENEWABLE ENERGY LTD (n/a) - 2.89%
#15	TAYLOR MORRISON HOME CORP (TMHC) - 2.71%	SOLAREDGE TECHNOLOGIES INC (SEDG) - 2.87%
#16	ORGANON & CO ORDINARY SHARES (OGN) - 2.69%	AVISTA CORP (AVA) - 2.80%
#17	EQUITABLE HOLDINGS INC (EQH) - 2.66%	NEXTPOWER INC CLASS A (NXT) - 2.78%
#18	PAY KMB US SMS (n/a) - 2.54%	AMERESCO INC CLASS A (AMRC) - 2.74%
#19	GLOBALSTAR INC (GSAT) - 2.45%	GENERAC HOLDINGS INC (GNRC) - 2.71%
#20	QORVO INC (QRVO) - 2.30%	ARRAY TECHNOLOGIES INC ORDINARY SHARES (ARRY) - 2.67%
#21	SCHRODERS PLC (n/a) - 2.17%	JINKOSOLAR HOLDING CO LTD DR (JKS) - 2.62%
#22	WEBSTER FINANCIAL CORP (WBS) - 2.17%	FIRST SOLAR INC (FSLR) - 2.57%
#23	PENUMBRA INC (PEN) - 2.09%	ENPHASE ENERGY INC (ENPH) - 2.49%
#24	FIRST CAPITAL REIT (n/a) - 1.98%	T1 ENERGY INC (TE) - 2.47%
#25	INPOST SA ORDINARY SHARES (n/a) - 1.94%	VALMONT INDUSTRIES INC (VMI) - 2.40%
Total Holdings	110	42

MNA vs CNRG - Historical Returns

Returns include dividend reinvestment.

Period	MNA	CNRG
1 month	+0.45%	-14.76%
3 months	+0.47%	+2.12%
6 months	+1.31%	+1.18%
1 year	+3.40%	+49.95%
5 years(CAGR)	+2.07%	+0.80%
10 years(CAGR)	+2.89%	N/A
Max(CAGR)	+2.68%	+18.28%

Winner

MNA

+0.45%

CNRG

-14.76%

MNA

+0.47%

Winner

CNRG

+2.12%

Winner

MNA

+1.31%

CNRG

+1.18%

MNA

+3.40%

Winner

CNRG

+49.95%

5Y(CAGR)

Winner

MNA

+2.07%

CNRG

+0.80%

10Y(CAGR)

MNA

+2.89%

CNRG

N/A

Max(CAGR)

MNA

+2.68%

Winner

CNRG

+18.28%

MNA vs CNRG - Annual Returns (2009 - 2026)

Returns include dividend reinvestment.

Year	MNA	CNRG
2026	+1.96%	+4.64%
2025	+8.19%	+43.45%
2024	+4.83%	-13.93%
2023	+0.21%	-9.79%
2022	-1.49%	-9.20%
2021	-3.36%	-16.46%
2020	+2.65%	+141.39%
2019	+5.10%	+62.49%
2018	+1.70%	-2.86%
2017	+5.72%	N/A
2016	+4.30%	N/A
2015	+1.45%	N/A
2014	+5.68%	N/A
2013	+7.13%	N/A
2012	+1.16%	N/A
2011	-0.69%	N/A
2010	-2.62%	N/A
2009	+0.96%	N/A

MNA vs CNRG Drawdown Comparison

The maximum drawdown for MNA was -16.68%, occurring on Mar 18, 2020. Recovery took 172 trading sessions.

The maximum drawdown for CNRG was -68.47%, occurring on Apr 8, 2025. This drawdown has not yet recovered.

The current MNA drawdown is -0.21%. The current CNRG drawdown is -28.41%.

Rank	MNA	CNRG
#1	-16.68% Jan 24, 2020 - Sep 29, 2020	-68.47% Feb 9, 2021 - Apr 8, 2025
#2	-11.94% Apr 23, 2010 - Jul 18, 2013	-44.22% Feb 19, 2020 - Jul 14, 2020
#3	-10.74% Apr 26, 2021 - Jan 15, 2025	-14.17% Dec 3, 2018 - Jan 25, 2019
#4	-5.78% May 28, 2015 - Mar 3, 2016	-12.48% Oct 20, 2020 - Nov 11, 2020
#5	-4.83% Jan 24, 2018 - Oct 16, 2018	-9.56% Jan 22, 2021 - Feb 9, 2021
#6	-3.98% Jan 8, 2021 - Apr 21, 2021	-9.01% Sep 1, 2020 - Sep 28, 2020
#7	-3.90% Jul 23, 2014 - Nov 26, 2014	-8.61% Jan 21, 2020 - Feb 10, 2020
#8	-3.04% Aug 8, 2013 - Sep 18, 2013	-8.27% Sep 23, 2019 - Dec 13, 2019
#9	-3.00% Jan 31, 2019 - Oct 22, 2019	-7.36% Nov 27, 2020 - Dec 15, 2020
#10	-2.85% May 25, 2016 - Sep 2, 2016	-5.62% Jan 14, 2021 - Jan 21, 2021
#11	-2.50% Nov 7, 2018 - Jan 15, 2019	-4.99% Aug 8, 2019 - Aug 21, 2019
#12	-2.44% Mar 20, 2014 - Jun 17, 2014	-4.50% Jul 22, 2020 - Aug 4, 2020
#13	-2.33% Nov 6, 2020 - Jan 8, 2021	-4.44% Aug 1, 2019 - Aug 8, 2019
#14	-2.28% Mar 4, 2016 - May 25, 2016	-4.33% May 3, 2019 - Jun 5, 2019
#15	-2.26% Sep 30, 2016 - Nov 23, 2016	-4.09% Dec 23, 2020 - Jan 5, 2021

Correlation

Correlation between MNA and CNRG is 0.50 which considered as a weak positive correlation - the stocks show a slight tendency to move together.

0.50

-101

Dividend Comparison (2009 - 2026)

MNA vs CNRG dividend yield comparison.

Year	MNA	CNRG
2026	0.00%	0.22%
2025	0.00%	1.46%
2024	0.00%	1.34%
2023	1.20%	1.17%
2022	0.00%	1.23%
2021	0.00%	1.34%
2020	2.30%	0.69%
2019	0.00%	1.16%
2018	0.00%	0.35%
2016	0.21%	0.00%
2015	0.87%	0.00%
2013	0.99%	0.00%
2012	0.19%	0.00%
2010	1.33%	0.00%
2009	0.01%	0.00%