MNAvsSOVFETF Comparison
VS
NYLI Merger Arbitrage ETF (MNA) belongs to the Uncategorized Equities segment. Sovereign's Capital Flourish Fund (SOVF) is part of the US Multi-Factor segment. MNA's top 3 sector exposures are Finance, Industrials and Utilities. In contrast, SOVF's top sector exposures are Finance, Technology and Healthcare. MNA is more expensive with a Total Expense Ratio (TER) of 0.77%, versus 0.75% for SOVF. MNA is up 1.66% year-to-date (YTD) with -$16M in YTD flows. SOVF performs better with 4.91% YTD performance, and -$9M in YTD flows. Run a side-by-side ETF comparison of MNA and SOVF below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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MNA vs SOVF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MNA SOVF | +0.23%+3.06% | +0.19%+5.95% | +1.66%+4.91% | +3.29%+1.32% | +18.31%n/a | +11.33%n/a |
| Flows | MNA SOVF | +$9K-$611K | +$2M-$3M | -$16M-$9M | -$2M-$20M | -$262M- | -$485M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MNA SOVF | +2.99%+13.59% | +2.94%+14.68% | +3.33%n/a | +3.87%n/a |
| Max drawdown | MNA SOVF | -0.83%-4.27% | -1.38%-14.39% | -2.89%n/a | -9.24%n/a |
| Max drawdown duration | MNA SOVF | 44d56d | 118d337d | 119dn/a | 1141dn/a |
Trading data
MNA | SOVF | |
Last sale 7/28/2026 at 1:30 PM | $36.58 | $31.15 |
| Previous close 07/27/2026 | $36.49 | $30.60 |
| Consolidated volume 07/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of June 30, 2026
1-year trailing difference
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SOVF
is actively managed and doesn’t replicate an indexMNA | SOVF | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 7/28/2026 at 1:30 PM
Live
Closed
MNA | SOVF | |
|---|---|---|
| Last price | $36.58 | $31.15 |
| 1D performance | +0.25% | +1.81% |
| AuM | $251.78 M | $96.08 M |
| E/R | 0.77% | 0.75% |
Characteristics
MNA | SOVF | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | New York Life Investments | Sovereign’s Capital |
| Benchmark | NYLI Merger Arbitrage Index | - |
| N° of holdings | 50 | 77 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 17, 2009 | October 3, 2023 |
| ESG | No | No |
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Exposure
Countries
MNA
USA
66.65%
Canada
15.63%
Other
17.72%
SOVF
USA
99.48%
Other
0.52%
Sectors
MNA
Finance
15.19%
Industrials
12.5%
Utilities
11.95%
Technology
10.92%
Non-Energy Materi.
8.45%
Consumer Services
8.33%
Other
32.67%
SOVF
Finance
33.9%
Technology
16.75%
Healthcare
10.57%
Industrials
10.37%
Consumer Non-Cycl.
7.66%
Business Services
7.11%
Other
13.65%
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Diversification
MNA
Total weight of top 15 holdings out of 15
49.7%
SOVF
Total weight of top 15 holdings out of 15
48.41%
Top 15 holdings
Data as of June 30, 2026
MNA
Teck Resources Limited
5.09%
Norfolk Southern Corp.
4.11%
Electronic Arts, Inc.
3.90%
NorthWestern Energy Group, Inc.
3.68%
Chart Industries, Inc.
3.54%
Dominion Energy, Inc.
3.53%
Warner Bros. Discovery, Inc.
3.21%
Caesars Entertainment, Inc.
3.19%
The AES Corp.
3.07%
Kenvue, Inc.
3.05%
ARC Resources Ltd.
2.75%
Organon & Co.
2.73%
Taylor Morrison Home Corp.
2.72%
Qorvo, Inc.
2.57%
Equitable Holdings, Inc.
2.57%
SOVF
Molina Healthcare, Inc.
5.56%
Insperity, Inc.
4.25%
Repay Holdings Corp.
4.15%
Alkami Technology, Inc.
3.67%
Vistra Corp.
3.62%
Paycom Software, Inc.
3.33%
Euronet Worldwide, Inc.
2.94%
Grand Canyon Education, Inc.
2.94%
Fiserv, Inc.
2.82%
Progressive Corp.
2.69%
Option Care Health, Inc.
2.59%
Primerica, Inc.
2.54%
SPS Commerce, Inc.
2.52%
American Financial Group, Inc.
2.51%
United Parcel Service, Inc.
2.29%
Frequently asked questions about MNA and SOVF
How have the MNA and SOVF ETFs performed in 2026?
As of July 27, 2026, MNA is up 1.66% year-to-date (YTD), while SOVF has returned 4.91%. That puts SOVF better performer ahead so far this year.
Which ETF is attracting more investor money: MNA or SOVF?
Year-to-date, the MNA ETF saw -$16M in flows, compared to -$9M for SOVF.
Which ETF is more volatile: MNA or SOVF?
Over the past year, MNA had a volatility of 2.94%, while SOVF experienced 14.68%.
Which ETF is bigger: MNA or SOVF?
As of July 27, 2026, MNA holds $251.78 M in assets under management (AUM), while SOVF manages $96.08 M.
What sectors do the MNA and SOVF ETFs invest in?
MNA leans toward sectors like Finance, Industrials and Utilities. Meanwhile, SOVF focuses on Finance, Technology and Healthcare.
What are the top holdings of the MNA ETF and SOVF ETF?
MNA top holdings include Teck Resources Limited, Norfolk Southern Corp. and Electronic Arts, Inc.. SOVF holds in its top three: Molina Healthcare, Inc., Insperity, Inc. and Repay Holdings Corp..
Which ETF is more diversified: MNA or SOVF?
MNA holds 50 securities with 49.7% of its assets in the top 15. SOVF has 77 securities and a top 15 weight of 48.41%.
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