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Trending ETFs

IQ Hedge Multi-Strategy Tracker ETF

ETF
QAI
Payout Change
Pending
Price as of:
$30.745 -0.06 -0.18%
primary theme
N/A
QAI (ETF)

IQ Hedge Multi-Strategy Tracker ETF

Payout Change
Pending
Price as of:
$30.745 -0.06 -0.18%
primary theme
N/A
QAI (ETF)

IQ Hedge Multi-Strategy Tracker ETF

Payout Change
Pending
Price as of:
$30.745 -0.06 -0.18%
primary theme
N/A

Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$30.75

$612 M

3.99%

$1.23

1.00%

Vitals

YTD Return

2.1%

1 yr return

10.8%

3 Yr Avg Return

1.0%

5 Yr Avg Return

2.5%

Net Assets

$612 M

Holdings in Top 10

100.2%

52 WEEK LOW AND HIGH

$30.8
$29.08
$31.34

Expenses

OPERATING FEES

Expense Ratio 1.00%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$30.75

$612 M

3.99%

$1.23

1.00%

QAI - Profile

Distributions

  • YTD Total Return 2.1%
  • 3 Yr Annualized Total Return 1.0%
  • 5 Yr Annualized Total Return 2.5%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.35%
DIVIDENDS
  • Dividend Yield 4.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    IQ Hedge Multi-Strategy Tracker ETF
  • Fund Family Name
    IndexIQ
  • Inception Date
    Mar 25, 2009
  • Shares Outstanding
    24850000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Greg Barrato

Fund Description

The Fund is a “fund of funds” which means it invests, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the investments included in its Underlying Index, which includes underlying funds. The Underlying Index consists of a number of components (“Underlying Index Components”) selected in accordance with IndexIQ’s rules-based methodology of such Underlying Index. Such Underlying Index Components will include primarily ETFs and/or other exchange-traded vehicles issuing equity securities organized in the U.S., such as exchange-traded commodity pools (“ETVs”), and may include
exchange-traded notes (“ETNs”) (such ETFs, ETVs and ETNs are referred to collectively as “exchange-traded products” or “ETPs”). The Fund may also invest in one or more financial instruments, including but not limited to futures contracts and swap agreements (collectively, “Financial Instruments”).
The Fund employs a “passive management” — or indexing — investment approach designed to track the performance of the Underlying Index, which was developed by IndexIQ LLC (“IndexIQ”), an affiliate of IndexIQ Advisors LLC, the Fund’s investment advisor (the “Advisor”). The Underlying Index generally is based on the premise that aggregated returns of hedge funds in a broad hedge fund universe display, over time, significant exposures to a set of common asset classes. The Underlying Index seeks to achieve performance similar to the overall hedge fund universe by replicating the “beta” portion of the hedge fund return characteristics (i.e., that portion of the returns that are non-idiosyncratic, or unrelated to manager skill) over longer term periods and not on a daily basis (the “Strategy”). The Underlying Index does not seek to replicate the “alpha” portion of the return characteristics of the overall hedge fund universe. In addition, the Fund does not invest in hedge funds, and the Underlying Index does not include hedge funds as Underlying Index Components. The Fund is not a fund of hedge funds. Managers included in the broad hedge fund universe may employ investment styles, including but not limited to:
Equity strategies, including long-only, long bias, long/short, market neutral and dedicated short strategies;
Fixed income strategies, including long-only and long/short credit strategies, high yield, asset-backed, and convertible bond strategies;
Emerging market strategies, including global and region- and country-specific strategies;
Sector strategies, including healthcare and biotechnology, technology, real estate, energy, financials and natural resources strategies; and
Specialized and alternative strategies, including multi-strategy, balanced, global macro, event-driven, options, merger arbitrage, and managed futures strategies.The Underlying Index may include both long and short positions in ETFs and ETVs. As opposed to taking long positions in which an investor seeks to profit from increases in the price of a security, short selling (or “selling short”) is a technique used by the Fund to try and profit from the falling price of a security. Short selling involves selling a security that has been borrowed from a third party with the intention of buying the identical security back at a later date to return to that third party. The basic principle of short selling is that one can profit by selling a security now at a high price and later buying it back at a lower price. The short seller hopes to profit from a decline in the price of the security between the sale and the repurchase, as the seller will pay less to buy the security than it received on selling the security.
The Underlying Index Components of this Strategy generally provide exposures to:
Commodities;
Emerging market equity, debt and sovereign debt, including small-capitalization equity;
Foreign currencies and currency futures;
Foreign sovereign debt and equity, including small-capitalization equity;
Municipal bonds;
The implied volatility of the S&P 500® Index;
U.S. and foreign preferred securities;
U.S. and foreign real estate investment trusts;
U.S. bank loans;
U.S. convertible debt;
U.S. floating rate bank loans;
U.S. floating rate bond;
U.S. government short-term, intermediate-term and long-term maturity bond;
U.S. growth equity;
U.S. low volatility equity;
U.S. momentum equity;
U.S. high yield (or “junk”) debt;
U.S. investment grade corporate debt;
U.S. large-capitalization equity;
U.S. mortgage-backed debt;
U.S. small-capitalization equity;
U.S. Treasury Inflation Protection Securities (“TIPS”);
U.S. value equity; and
Alternative strategies including merger arbitrage, market neutral, long/short, options, private equity replication, and managed futures.
The Underlying Index is unlike traditional market-oriented indexes like the Standard & Poor’s 500® Composite Stock Total Return Index (the “S&P 500 Index”). Instead of tracking the performance of publicly-traded issuers representing a market or industry sector, the Underlying Index seeks to track the returns of distinct hedge fund investment styles.
The Underlying Index may include as a component one or more ETFs advised by the Advisor (“Affiliated ETFs”) and the Fund will typically invest in any Affiliated ETF included in the Underlying Index. The Fund also may invest in Affiliated ETFs that are not components of the index if such an investment will help the Fund track the Underlying Index.
The weights of the Underlying Index Components are rebalanced on a quarterly basis. Annually, IndexIQ conducts a review process pursuant to which it may reconstitute the Underlying Indexes by adding or subtracting Underlying Index Components according to IndexIQ’s rules-based process.
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QAI - Performance

Return Ranking - Trailing

Period QAI Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -73.0% 19.4% 87.46%
1 Yr 10.8% -9.1% 86.9% 42.91%
3 Yr 1.0%* -9.5% 16.2% 55.42%
5 Yr 2.5%* -4.9% 14.4% 53.36%
10 Yr 2.0%* -0.9% 7.5% 48.94%

* Annualized

Return Ranking - Calendar

Period QAI Return Category Return Low Category Return High Rank in Category (%)
2023 5.8% -22.7% 305.1% 32.96%
2022 -10.5% -9.8% 27.3% 32.26%
2021 -0.4% -20.8% 10.9% 41.78%
2020 3.7% -12.4% 29.4% 18.81%
2019 6.6% -10.5% 15.8% 47.64%

Total Return Ranking - Trailing

Period QAI Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -73.0% 19.4% 85.66%
1 Yr 10.8% -13.4% 86.9% 38.18%
3 Yr 1.0%* -9.5% 16.2% 49.80%
5 Yr 2.5%* -5.3% 14.4% 47.98%
10 Yr 2.0%* -0.9% 7.5% 45.74%

* Annualized

Total Return Ranking - Calendar

Period QAI Return Category Return Low Category Return High Rank in Category (%)
2023 10.1% -22.7% 305.1% 33.33%
2022 -8.7% -9.8% 27.3% 32.66%
2021 -0.2% -20.8% 10.9% 52.44%
2020 5.7% -8.4% 29.4% 39.60%
2019 8.7% -10.2% 18.0% 56.54%

QAI - Holdings

Concentration Analysis

QAI Category Low Category High QAI % Rank
Net Assets 612 M 1.5 M 5.01 B 17.34%
Number of Holdings 80 4 4478 38.52%
Net Assets in Top 10 596 M -398 M 2.55 B 14.13%
Weighting of Top 10 100.19% 13.1% 100.0% 46.79%

Top 10 Holdings

  1. iShares Floating Rate Bond ETF 18.47%
  2. DREYFUS GOVERNMENT CASH MANAGE 17.47%
  3. Invesco Senior Loan ETF 12.60%
  4. SPDR Blackstone Senior Loan ETF 11.70%
  5. SPDR SP Emerging Markets SmallCap ETF 10.77%
  6. SPDR Bloomberg Convertible Securities ETF 9.15%
  7. SPDR Bloomberg Investment Grade Floating Rate ETF 6.06%
  8. IQ Merger Arbitrage ETF 4.89%
  9. JPMorgan Equity Premium Income ETF 4.82%
  10. JPMorgan Nasdaq Equity Premium Income ETF 4.26%

Asset Allocation

Weighting Return Low Return High QAI % Rank
Stocks
99.69% -3.75% 97.95% 60.42%
Cash
17.47% -6278.21% 410.43% 71.38%
Convertible Bonds
10.57% 0.00% 87.92% 7.07%
Other
0.12% -21.53% 148.54% 61.84%
Preferred Stocks
0.00% -0.12% 46.97% 10.60%
Bonds
0.00% -326.45% 6347.80% 18.73%

Stock Sector Breakdown

Weighting Return Low Return High QAI % Rank
Financial Services
16.25% 0.00% 59.28% 50.39%
Healthcare
15.58% 0.00% 45.63% 79.53%
Technology
14.44% 0.00% 39.58% 65.35%
Industrials
9.17% 0.00% 21.45% 45.28%
Consumer Cyclical
9.10% 0.00% 29.09% 18.50%
Energy
8.03% 0.00% 100.00% 26.77%
Consumer Defense
6.27% 0.00% 13.62% 48.82%
Communication Services
6.11% 0.00% 21.78% 37.40%
Basic Materials
5.53% 0.00% 27.46% 18.90%
Real Estate
4.97% 0.00% 51.26% 21.65%
Utilities
4.57% 0.00% 9.23% 33.07%

Stock Geographic Breakdown

Weighting Return Low Return High QAI % Rank
US
99.69% -8.85% 91.88% 78.80%
Non US
0.00% -19.62% 42.11% 17.67%

QAI - Expenses

Operational Fees

QAI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.00% 0.29% 31.15% 95.32%
Management Fee 0.75% 0.00% 2.50% 23.67%
12b-1 Fee 0.00% 0.00% 1.00% 7.43%
Administrative Fee N/A 0.01% 0.30% N/A

Sales Fees

QAI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

QAI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

QAI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 491.00% 52.82%

QAI - Distributions

Dividend Yield Analysis

QAI Category Low Category High QAI % Rank
Dividend Yield 3.99% 0.00% 4.56% 33.22%

Dividend Distribution Analysis

QAI Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Quarterly Annually

Net Income Ratio Analysis

QAI Category Low Category High QAI % Rank
Net Income Ratio 1.35% -2.51% 6.83% 8.63%

Capital Gain Distribution Analysis

QAI Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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QAI - Fund Manager Analysis

Managers

Greg Barrato


Start Date

Tenure

Tenure Rank

Feb 28, 2011

11.26

11.3%

Mr. Barrato has managed the MainStay VP IQ Hedge Multi-Strategy Portfolio since inception. Mr. Barrato joined IndexIQ Advisors LLC as a Vice President in November 2010 and has been a Senior Vice President of the IndexIQ Advisors LLC since August 2013. Prior to joining IndexIQ Advisors LLC, Mr. Barrato served as Head Global Equity Trader and Trader at Lucerne Capital Management, LLC from 2008 to 2010 and as Assistant Trader and Operations Manager at ReachCapital Management, LP from 2004 to 2008. Mr. Barrato is a 2002 graduate of the University of Connecticut.

James Harrison


Start Date

Tenure

Tenure Rank

Apr 30, 2018

4.09

4.1%

James Harrison has been a member of the portfolio management team of IndexIQ Advisors LLC since 2015. Prior to joining IndexIQ, Mr. Harrison served as trading assistant, operations specialist and sales assistant at Cuttone & Company from 2010 to 2015. Mr. Harrison is a graduate of St. Lawrence University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 17.37 4.48 1.67