MNA vs SPY
Comparison between NYLI MERGER ARBITRAGE ETF (MNA, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed MNA, delivering a return of +13.3% compared to +1.9%
MNA vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
MNA
$249M
Winner
SPY
$735B
Expense Ratio
MNA
0.77%
Winner
SPY
0.09%
Max Drawdown
Winner
MNA
16.68%
SPY
56.47%
Sharpe Ratio
MNA
0.13
Winner
SPY
1.62
5Y Beta
Winner
MNA
0.10
SPY
1.00
P/E Ratio
MNA
75.68
Winner
SPY
28.99
Forward P/E
Winner
MNA
13.48
SPY
22.37
5Y Dividends CAGR
MNA
N/A
SPY
5.43%
5Y EPS CAGR
MNA
N/A
SPY
26.05%
Debt to Equity
MNA
100.38%
Winner
SPY
32.40%
P/S Ratio
Winner
MNA
1.75
SPY
3.74
P/B Ratio
Winner
MNA
2.77
SPY
5.61
MNA vs SPY - Holdings Comparison
MNA and SPY have 12 common holdings. Overlap is -12.54%
MNA's top 25 holdings weight is 78.13%. SPY's top 25 holdings weight is 52.37%.
| Rank | MNA | SPY |
|---|---|---|
| #1 | DREY INST PREF GOV MM INST 6546 (n/a) - 7.16% | NVIDIA CORP (NVDA) - 8.10% |
| #2 | TECK RESOURCES LTD CLASS B (SUB VOTING) (n/a) - 5.34% | APPLE INC (AAPL) - 7.02% |
| #3 | NORFOLK SOUTHERN CORP (NSC) - 4.08% | MICROSOFT CORP (MSFT) - 4.79% |
| #4 | ELECTRONIC ARTS INC (EA) - 3.81% | AMAZON.COM INC (AMZN) - 4.02% |
| #5 | REC BKH US SMS (n/a) - 3.77% | ALPHABET INC CLASS A (GOOGL) - 3.51% |
| #6 | NORTHWESTERN ENERGY GROUP INC (NWE) - 3.68% | BROADCOM INC (AVGO) - 3.10% |
| #7 | CHART INDUSTRIES INC (GTLS) - 3.51% | ALPHABET INC CLASS C (GOOG) - 2.79% |
| #8 | TXNM ENERGY INC (TXNM) - 3.51% | META PLATFORMS INC CLASS A (META) - 2.08% |
| #9 | REC UNP US SMS (n/a) - 3.50% | TESLA INC (TSLA) - 1.89% |
| #10 | n/a (WBD) - 3.23% | MICRON TECHNOLOGY INC (MU) - 1.56% |
| #11 | THE AES CORP (AES) - 3.06% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37% |
| #12 | ARC RESOURCES LTD (n/a) - 2.96% | ELI LILLY AND CO (LLY) - 1.31% |
| #13 | QORVO INC (QRVO) - 2.92% | JPMORGAN CHASE & CO (JPM) - 1.28% |
| #14 | KENVUE INC (KVUE) - 2.78% | ADVANCED MICRO DEVICES INC (AMD) - 1.27% |
| #15 | ORGANON & CO ORDINARY SHARES (OGN) - 2.69% | EXXON MOBIL CORP (XOM) - 0.97% |
| #16 | GLOBALSTAR INC (GSAT) - 2.56% | INTEL CORP (INTC) - 0.90% |
| #17 | EQUITABLE HOLDINGS INC (EQH) - 2.50% | JOHNSON & JOHNSON (JNJ) - 0.86% |
| #18 | PAY KMB US SMS (n/a) - 2.29% | VISA INC CLASS A (V) - 0.85% |
| #19 | AXALTA COATING SYSTEMS LTD (AXTA) - 2.24% | WALMART INC (WMT) - 0.81% |
| #20 | PENUMBRA INC (PEN) - 2.17% | CISCO SYSTEMS INC (CSCO) - 0.72% |
| #21 | SCHRODERS PLC (n/a) - 2.17% | COSTCO WHOLESALE CORP (COST) - 0.69% |
| #22 | WEBSTER FINANCIAL CORP (WBS) - 2.07% | CATERPILLAR INC (CAT) - 0.66% |
| #23 | PAY AKZA US SMS (n/a) - 2.07% | MASTERCARD INC CLASS A (MA) - 0.62% |
| #24 | FIRST CAPITAL REIT (n/a) - 2.04% | LAM RESEARCH CORP (LRCX) - 0.62% |
| #25 | KENNEDY-WILSON HOLDINGS INC (KW) - 2.02% | ABBVIE INC (ABBV) - 0.58% |
| Total Holdings | 98 | 505 |
MNA vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
MNA
+0.04%
Winner
SPY
+1.90%
3M
MNA
+0.72%
Winner
SPY
+8.55%
6M
MNA
+1.70%
Winner
SPY
+8.18%
1Y
MNA
+4.23%
Winner
SPY
+25.79%
5Y(CAGR)
MNA
+1.86%
Winner
SPY
+13.32%
10Y(CAGR)
MNA
+2.75%
Winner
SPY
+15.19%
Max(CAGR)
MNA
+2.68%
Winner
SPY
+8.47%
MNA vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | MNA | SPY |
|---|---|---|
| 2026 | +1.64% | +8.26% |
| 2025 | +8.19% | +18.00% |
| 2024 | +4.83% | +25.59% |
| 2023 | +0.21% | +26.72% |
| 2022 | -1.49% | -18.64% |
| 2021 | -3.36% | +30.52% |
| 2020 | +2.65% | +17.28% |
| 2019 | +5.10% | +31.09% |
| 2018 | +1.70% | -5.24% |
| 2017 | +5.72% | +20.78% |
| 2016 | +4.30% | +13.59% |
| 2015 | +1.45% | +1.31% |
| 2014 | +5.68% | +14.56% |
| 2013 | +7.13% | +29.00% |
| 2012 | +1.16% | +14.17% |
| 2011 | -0.69% | +0.85% |
| 2010 | -2.62% | +13.14% |
| 2009 | +0.96% | +22.67% |
| 2008 | N/A | -36.25% |
| 2007 | N/A | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
MNA vs SPY Drawdown Comparison
The maximum drawdown for MNA was -16.68%, occurring on Mar 18, 2020. Recovery took 172 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current MNA drawdown is -0.46%. The current SPY drawdown is -2.90%.
| Rank | MNA | SPY |
|---|---|---|
| #1 | -16.68% Jan 24, 2020 - Sep 29, 2020 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -11.94% Apr 23, 2010 - Jul 18, 2013 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -10.74% Apr 26, 2021 - Jan 15, 2025 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -5.78% May 28, 2015 - Mar 3, 2016 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -4.83% Jan 24, 2018 - Oct 16, 2018 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -3.98% Jan 8, 2021 - Apr 21, 2021 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -3.90% Jul 23, 2014 - Nov 26, 2014 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -3.04% Aug 8, 2013 - Sep 18, 2013 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -3.00% Jan 31, 2019 - Oct 22, 2019 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -2.85% May 25, 2016 - Sep 2, 2016 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -2.50% Nov 7, 2018 - Jan 15, 2019 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -2.44% Mar 20, 2014 - Jun 17, 2014 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -2.33% Nov 6, 2020 - Jan 8, 2021 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -2.28% Mar 4, 2016 - May 25, 2016 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -2.26% Sep 30, 2016 - Nov 23, 2016 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between MNA and SPY is 0.91 which considered as a very strong positive correlation - the stocks move almost identically together.
0.91
-101
Dividend Comparison (1999 - 2026)
MNA vs SPY dividend yield comparison.
| Year | MNA | SPY |
|---|---|---|
| 2026 | 0.00% | 0.24% |
| 2025 | 0.00% | 1.07% |
| 2024 | 0.00% | 1.21% |
| 2023 | 1.20% | 1.40% |
| 2022 | 0.00% | 1.65% |
| 2021 | 0.00% | 1.20% |
| 2020 | 2.30% | 1.52% |
| 2019 | 0.00% | 1.75% |
| 2018 | 0.00% | 2.04% |
| 2017 | 0.00% | 1.80% |
| 2016 | 0.21% | 2.03% |
| 2015 | 0.87% | 2.06% |
| 2014 | 0.00% | 1.87% |
| 2013 | 0.99% | 1.81% |
| 2012 | 0.19% | 2.18% |
| 2011 | 0.00% | 2.05% |
| 2010 | 1.33% | 1.80% |
| 2009 | 0.01% | 1.95% |
| 2008 | 0.00% | 3.02% |
| 2007 | 0.00% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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