MNA vs TZA

Comparison between NYLI MERGER ARBITRAGE ETF (MNA, ETF) and DIREXION DAILY SMALL CAP BEAR 3X SHARES (TZA, ETF).

5-Year PerformanceMNA has outperformed TZA, delivering a return of +1.9% compared to -30.7%

MNA vs TZA - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	MNA(ETF)	TZA(ETF)
Net Assets	$250M	$249M
Expense Ratio	0.77%	N/A
Max Drawdown	16.68%	100.00%
Sharpe Ratio	0.10	-1.58
5Y Beta	0.10	0.00
P/E Ratio	78.03	N/A
Forward P/E	13.45	N/A
5Y Dividends CAGR	N/A	-7.48%
Debt to Equity	100.32%	N/A

Net Assets

Winner

MNA

$250M

TZA

$249M

Expense Ratio

MNA

0.77%

TZA

N/A

Max Drawdown

Winner

MNA

16.68%

TZA

100.00%

Sharpe Ratio

Winner

MNA

0.10

TZA

-1.58

5Y Beta

MNA

0.10

Winner

TZA

0.00

P/E Ratio

MNA

78.03

TZA

N/A

Forward P/E

MNA

13.45

TZA

N/A

5Y Dividends CAGR

MNA

N/A

TZA

-7.48%

Debt to Equity

MNA

100.32%

TZA

N/A

MNA vs TZA - Holdings Comparison

MNA and TZA have 0 common holdings. Overlap is 0.00%

MNA's top 25 holdings weight is 78.13%. TZA's top 25 holdings weight is 40.95%.

Rank	MNA	TZA
#1	DREY INST PREF GOV MM INST 6546 (n/a) - 7.16%	GOLDMAN SACHS FS TREASURY INTMS INSTL (FTIXX) - 40.95%
#2	TECK RESOURCES LTD CLASS B (SUB VOTING) (n/a) - 5.34%	N/A
#3	NORFOLK SOUTHERN CORP (NSC) - 4.08%	N/A
#4	ELECTRONIC ARTS INC (EA) - 3.81%	N/A
#5	REC BKH US SMS (n/a) - 3.77%	N/A
#6	NORTHWESTERN ENERGY GROUP INC (NWE) - 3.68%	N/A
#7	CHART INDUSTRIES INC (GTLS) - 3.51%	N/A
#8	TXNM ENERGY INC (TXNM) - 3.51%	N/A
#9	REC UNP US SMS (n/a) - 3.50%	N/A
#10	n/a (WBD) - 3.23%	N/A
#11	THE AES CORP (AES) - 3.06%	N/A
#12	ARC RESOURCES LTD (n/a) - 2.96%	N/A
#13	QORVO INC (QRVO) - 2.92%	N/A
#14	KENVUE INC (KVUE) - 2.78%	N/A
#15	ORGANON & CO ORDINARY SHARES (OGN) - 2.69%	N/A
#16	GLOBALSTAR INC (GSAT) - 2.56%	N/A
#17	EQUITABLE HOLDINGS INC (EQH) - 2.50%	N/A
#18	PAY KMB US SMS (n/a) - 2.29%	N/A
#19	AXALTA COATING SYSTEMS LTD (AXTA) - 2.24%	N/A
#20	PENUMBRA INC (PEN) - 2.17%	N/A
#21	SCHRODERS PLC (n/a) - 2.17%	N/A
#22	WEBSTER FINANCIAL CORP (WBS) - 2.07%	N/A
#23	PAY AKZA US SMS (n/a) - 2.07%	N/A
#24	FIRST CAPITAL REIT (n/a) - 2.04%	N/A
#25	KENNEDY-WILSON HOLDINGS INC (KW) - 2.02%	N/A
Total Holdings	98	1

MNA vs TZA - Historical Returns

Returns include dividend reinvestment.

Period	MNA	TZA
1 month	+0.44%	-18.15%
3 months	+1.09%	-42.73%
6 months	+1.52%	-41.96%
1 year	+3.99%	-67.42%
5 years(CAGR)	+1.91%	-30.65%
10 years(CAGR)	+2.81%	-43.82%
Max(CAGR)	+2.68%	-50.60%

Winner

MNA

+0.44%

TZA

-18.15%

Winner

MNA

+1.09%

TZA

-42.73%

Winner

MNA

+1.52%

TZA

-41.96%

Winner

MNA

+3.99%

TZA

-67.42%

5Y(CAGR)

Winner

MNA

+1.91%

TZA

-30.65%

10Y(CAGR)

Winner

MNA

+2.81%

TZA

-43.82%

Max(CAGR)

Winner

MNA

+2.68%

TZA

-50.60%

MNA vs TZA - Annual Returns (2008 - 2026)

Returns include dividend reinvestment.

Year	MNA	TZA
2026	+1.67%	-43.75%
2025	+8.19%	-40.14%
2024	+4.83%	-33.52%
2023	+0.21%	-42.13%
2022	-1.49%	+35.32%
2021	-3.36%	-52.86%
2020	+2.65%	-80.41%
2019	+5.10%	-52.45%
2018	+1.70%	+28.74%
2017	+5.72%	-37.30%
2016	+4.30%	-58.67%
2015	+1.45%	-7.71%
2014	+5.68%	-31.55%
2013	+7.13%	-65.56%
2012	+1.16%	-46.46%
2011	-0.69%	-40.32%
2010	-2.62%	-65.58%
2009	+0.96%	-78.57%
2008	N/A	-59.11%

MNA vs TZA Drawdown Comparison

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

The maximum drawdown for TZA was -100.00%, occurring on Jun 15, 2026. This drawdown has not yet recovered.

The current MNA drawdown is -0.44%. The current TZA drawdown is -100.00%.

Rank	MNA	TZA
#1	-16.68% Jan 24, 2020 - Sep 29, 2020	-100.00% Nov 20, 2008 - Jun 15, 2026
#2	-11.94% Apr 23, 2010 - Jul 18, 2013	N/A
#3	-10.74% Apr 26, 2021 - Jan 15, 2025	N/A
#4	-5.78% May 28, 2015 - Mar 3, 2016	N/A
#5	-4.83% Jan 24, 2018 - Oct 16, 2018	N/A
#6	-3.98% Jan 8, 2021 - Apr 21, 2021	N/A
#7	-3.90% Jul 23, 2014 - Nov 26, 2014	N/A
#8	-3.04% Aug 8, 2013 - Sep 18, 2013	N/A
#9	-3.00% Jan 31, 2019 - Oct 22, 2019	N/A
#10	-2.85% May 25, 2016 - Sep 2, 2016	N/A
#11	-2.50% Nov 7, 2018 - Jan 15, 2019	N/A
#12	-2.44% Mar 20, 2014 - Jun 17, 2014	N/A
#13	-2.33% Nov 6, 2020 - Jan 8, 2021	N/A
#14	-2.28% Mar 4, 2016 - May 25, 2016	N/A
#15	-2.26% Sep 30, 2016 - Nov 23, 2016	N/A

Correlation

Correlation between MNA and TZA is -0.53 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.53

-101

Dividend Comparison (2009 - 2026)

MNA vs TZA dividend yield comparison.

Year	MNA	TZA
2026	0.00%	1.72%
2025	0.00%	5.08%
2024	0.00%	5.40%
2023	1.20%	5.49%
2020	2.30%	1.21%
2019	0.00%	1.56%
2018	0.00%	0.63%
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%

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MNA vs TZA

MNA vs TZA - Performance Comparison

Key Characteristics

MNA vs TZA - Holdings Comparison

MNA vs TZA - Historical Returns

MNA vs TZA - Annual Returns (2008 - 2026)

MNA vs TZA Drawdown Comparison

Correlation

Dividend Comparison (2009 - 2026)

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