IQ Merger Arbitrage Is All About the Deals

This merger-focused ETF can zig when the market zags.

Market-neutral funds are designed to lag the broad market when stocks are soaring but hang in there when things go south. In those respects, IQ Merger Arbitrage ETF (symbol MNA) has done its job. The exchange-traded fund’s 2.3% annualized return over the past decade lags the 11.2% turned in by Standard & Poor’s 500-stock index. But amid the 19.9% slide in the broad stock market from its peak on February 19 through March 13, the fund lost only 6.7%.

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Ryan Ermey
Former Associate Editor, Kiplinger's Personal Finance

Ryan joined Kiplinger in the fall of 2013. He wrote and fact-checked stories that appeared in Kiplinger's Personal Finance magazine and on He previously interned for the CBS Evening News investigative team and worked as a copy editor and features columnist at the GW Hatchet. He holds a BA in English and creative writing from George Washington University.