Sector allocations include consumer staples 32.4% long/-20% short, industrial 22.0% long/-35.4% short, energy 21.4% long/-15.8% short, financial 7.2% long/-28.9 short, consumer discretionary 6.9%, basic materials 4.6%, tech 3.4%, communications 1.5% and utilities 0.7%.
The new M&A ETF will be against the IQ ARB Merger Arbitrage ETF (NYSEArca: MNA), which invests in global companies that have announced a takeover and shorts global equities as a partial equity hedge.
Additionally, the exchange traded note option, Credit Suisse Merger Arbitrage Liquid Index (NYSE: CSMA), also provides exposure to the merger arbitrage investment strategy by taking long and short positions in announced deals within the U.S., Canada and Western Europe.
For more information on new product launches, visit our new ETFs category.
Max Chen contributed to this article.