UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file number 811-22227
IndexIQ ETF Trust
(Exact name of registrant as specified in charter)
800 Westchester Ave., Suite S-710
Rye Brook, NY 10573
(Address of principal executive offices) (Zip code)
Adam S. Patti
IndexIQ Advisors LLC
800 Westchester Ave., Suite S-710
Rye Brook, NY 10573
(Name and address of agent for service)
Registrant's telephone number, including area code: 1-888-474-7725
Date of fiscal year end: April 30
Date of reporting period: April 30, 2017
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Reports to Stockholders.
The Report to Shareholders is attached herewith.
IQ Hedge Macro Tracker ETF (MCRO)
IQ Hedge Market Neutral Tracker ETF (QMN)
IQ Hedge Long/Short Tracker ETF (QLS)
IQ Hedge Event-Driven Tracker ETF (QED)
IQ Global Resources ETF (GRES)
IQ Merger Arbitrage ETF (MNA)
IQ Real Return ETF (CPI)
IQ Australia Small Cap ETF (KROO)
IQ Canada Small Cap ETF (CNDA)
IQ Global Agribusiness Small Cap ETF (CROP)
IQ Global Oil Small Cap ETF (IOIL)
IQ U.S. Real Estate Small Cap ETF (ROOF)
IQ 50 Percent Hedged FTSE International ETF (HFXI)
IQ 50 Percent Hedged FTSE Europe ETF (HFXE)
IQ 50 Percent Hedged FTSE Japan ETF (HFXJ)
IQ Leaders GTAA Tracker ETF (QGTA)
IQ Enhanced Core Bond U.S. ETF (AGGE)
IQ Enhanced Core Plus Bond U.S. ETF (AGGP)
IQ S&P High Yield Low Volatility Bond ETF (HYLV)
• | Receive email notifications when your most recent shareholder communications are available for review. |
• | Access prospectuses, annual reports and semiannual reports online. |
1. | Visit https://www.icsdelivery.com/live/ |
2. | Follow the simple enrollment instructions |
Table of Contents
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Chief Executive Officer
Registered Representative of NYLIFE Distributors LLC
* | Diversification does not eliminate the risk of experiencing investment loss. |
1 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
2 | See page 7 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
IQ Hedge Multi-Strategy Tracker ETF
(as of 4/30/2017)
1 Year | 3 Year | 5 Year | Since Inception1 | ||||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | |||||||||||||||||||
IQ Hedge Multi-Strategy Tracker ETF Market Price2 | 0.31 | % | 0.44 | % | 1.91 | % | 2.91 | % | 26.17 | % | |||||||||||||
IQ Hedge Multi-Strategy Tracker ETF NAV | 0.42 | % | 0.47 | % | 1.90 | % | 2.91 | % | 26.20 | % | |||||||||||||
IQ Hedge Multi-Strategy Index | 1.91 | % | 1.89 | % | 3.12 | % | 3.90 | % | 36.32 | % | |||||||||||||
HFRI Fund of Funds Composite Index3 | 5.68 | % | 2.01 | % | 3.28 | % | 3.69 | % | 34.08 | % | |||||||||||||
S&P 500 Index | 17.17 | % | 9.78 | % | 12.95 | % | 16.03 | % | 233.46 | % |
1 | Fund Inception Date: 3/24/2009. |
2 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
3 | Data shown above for the HFRI Fund of Funds Composite Index is from 3/31/2009 to 4/30/2017. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
2 | See page 9 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
IQ Hedge Macro Tracker ETF
(as of 4/30/2017)
1 Year | 3 Year | 5 Year | Since Inception1 | ||||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | |||||||||||||||||||
IQ Hedge Macro Tracker ETF Market Price2 | 2.58 | % | –0.52 | % | –0.43 | % | 1.15 | % | 9.41 | % | |||||||||||||
IQ Hedge Macro Tracker ETF NAV | 3.26 | % | –0.53 | % | –0.43 | % | 1.16 | % | 9.51 | % | |||||||||||||
IQ Hedge Macro Index | 4.60 | % | 0.36 | % | 0.42 | % | 1.90 | % | 15.97 | % | |||||||||||||
HFRI Macro (Total) Index4 | –0.40 | % | 1.85 | % | 0.92 | % | 1.26 | % | 10.43 | % | |||||||||||||
MSCI World Index | 14.65 | % | 5.68 | % | 9.94 | % | 10.90 | % | 126.15 | % | |||||||||||||
HFRI Fund of Funds Composite Index3,4 | 5.68 | % | 2.01 | % | 3.28 | % | 3.21 | % | 28.41 | % |
1 | Fund Inception Date: 6/08/2009. |
2 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
3 | Data shown above for the HFRI Fund of Funds Composite Index is from 5/31/2009 to 4/30/2017. |
4 | The HFRI Macro (Total) Index has replaced the HFRI Fund of Funds Composite Index as the Fund’s benchmark Index. The new index closely aligns with the Fund’s Investment Strategy. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
2 | See page 11 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
(as of 4/30/2017)
1 Year | 3 Year | Since Inception1 | ||||||||||||||||||||
Average Annual | Average Annual | Average Annual | Cumulative | |||||||||||||||||||
IQ Hedge Market Neutral Tracker ETF Market Price2 | 0.67 | % | 0.27 | % | 1.07 | % | 5.00 | % | ||||||||||||||
IQ Hedge Market Neutral Tracker ETF NAV | 0.44 | % | 0.23 | % | 1.08 | % | 5.03 | % | ||||||||||||||
IQ Hedge Market Neutral Index | 1.64 | % | 1.54 | % | 2.21 | % | 10.53 | % | ||||||||||||||
HFRI Equity Market Neutral Index3 | 4.26 | % | 3.18 | % | 4.04 | % | 19.49 | % | ||||||||||||||
Bloomberg Barclays Short Treasury Total Return Index Value Unhedged USD | 0.47 | % | 0.29 | % | 0.24 | % | 1.11 | % |
1 | Fund Inception Date: 10/04/2012. |
2 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
3 | Data shown above for the HFRI Equity Market Neutral Index is from 9/30/2012 to 4/30/2017. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
2 | See page 13 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
(as of 4/30/2017)
1 Year | Since Inception1 | ||||||||||||||
Average Annual | Average Annual | Cumulative | |||||||||||||
IQ Hedge Long/Short Tracker ETF Market Price2 | 8.98 | % | 1.86 | % | 3.96 | % | |||||||||
IQ Hedge Long/Short Tracker ETF NAV | 8.18 | % | 1.92 | % | 4.08 | % | |||||||||
IQ Hedge Long/Short Index | 9.73 | % | 3.37 | % | 7.22 | % | |||||||||
HFRI Equity Hedge Index3 | 10.31 | % | 3.02 | % | 6.40 | % | |||||||||
MSCI World Net Total Return USD Index4 | 14.65 | % | 4.73 | % | 10.20 | % | |||||||||
Bloomberg Barclays Short Treasury Total Return Index Value Unhedged USD4 | 0.47 | % | 0.38 | % | 0.80 | % |
1 | Fund Inception Date: 03/23/2015. |
2 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
3 | Data shown above for the HFRI Equity Hedge Index is from 3/31/2015 to 4/30/2017. |
4 | The MSCI World Net Total Return USD Index has replaced the Bloomberg Barclays Short Treasury Total Return Index value Unhedged USD as the Fund’s benchmark Index. The new Index closely aligns with Fund’s Investment Strategy. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
2 | See page 15 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
(as of 4/30/2017)
1 Year | Since Inception1 | ||||||||||||||
Average Annual | Average Annual | Cumulative | |||||||||||||
IQ Hedge Event-Driven Tracker ETF Market Price2 | 8.44 | % | 3.53 | % | 7.57 | % | |||||||||
IQ Hedge Event-Driven Tracker ETF NAV | 8.58 | % | 3.51 | % | 7.54 | % | |||||||||
IQ Hedge Event-Driven Index | 9.37 | % | 4.23 | % | 9.11 | % | |||||||||
HFRI Event-Driven Index3 | 11.51 | % | 3.26 | % | 6.91 | % | |||||||||
Bloomberg Barclays U.S. Aggregate Fund Index4 | 0.83 | % | 1.53 | % | �� | 3.25 | % | ||||||||
Bloomberg Barclays Short Treasury Total Return Index Value Unhedged USD4 | 0.47 | % | 0.38 | % | 0.80 | % |
1 | Fund Inception Date: 03/23/2015. |
2 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
3 | Data shown above for the HFRI Equity Hedge Index is from 3/31/2015 to 4/30/2017. |
4 | Bloomberg Barclays U.S. Aggregate Bond Index has replaced the Bloomberg Barclays Short Treasury Total Return Index value Unhedged USD as the Fund’s benchmark Index. The new Index closely aligns with Fund’s Investment Strategy. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
2 | See page 17 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
(as of 4/30/2017)
1 Year | 3 Year | 5 Year | Since Inception1 | ||||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | |||||||||||||||||||
IQ Global Resources ETF Market Price2 | 5.13 | % | –2.56 | % | –0.84 | % | 1.80 | % | 14.31 | % | |||||||||||||
IQ Global Resources ETF NAV | 4.94 | % | –2.70 | % | –0.96 | % | 1.73 | % | 13.75 | % | |||||||||||||
IQ Global Resources Index | 7.00 | % | –1.04 | % | 0.15 | % | 2.84 | % | 23.37 | % | |||||||||||||
MSCI World Net Total Return USD Index | 14.65 | % | 5.68 | % | 9.94 | % | 9.10 | % | 92.30 | % | |||||||||||||
Bloomberg Commodity Index | –1.32 | % | –15.02 | % | –9.73 | % | –6.01 | % | –37.22 | % |
1 | Fund Inception Date: 10/26/2009. |
2 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
2 | See page 19 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
(as of 4/30/2017)
1 Year | 3 Year | 5 Year | Since Inception1 | ||||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | |||||||||||||||||||
IQ Merger Arbitrage ETF Market Price2 | 6.39 | % | 3.94 | % | 3.63 | % | 3.10 | % | 25.52 | % | |||||||||||||
IQ Merger Arbitrage ETF NAV | 6.38 | % | 4.05 | % | 3.49 | % | 3.06 | % | 25.19 | % | |||||||||||||
IQ Merger Arbitrage Index | 7.15 | % | 5.01 | % | 4.56 | % | 4.13 | % | 35.20 | % | |||||||||||||
HFRI ED: Merger Arbitrage Index3,4 | 12.88 | % | 2.95 | % | 5.47 | % | 5.69 | % | 51.04 | % | |||||||||||||
S&P 500 Index | 17.17 | % | 9.78 | % | 12.95 | % | 12.46 | % | 139.89 | % | |||||||||||||
MSCI World Index3 | 14.65 | % | 5.68 | % | 9.94 | % | 8.71 | % | 86.23 | % |
1 | Fund Inception Date: 11/16/2009. |
2 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
3 | The HFRI ED: Merger Arbitrage Index has replaced the MSCI World Index as the Fund’s benchmark Index. The new index closely aligns with the Fund Investment Strategy. |
4 | Data shown above for the HFRI ED: Merger Arbitrage Index is from 11/30/2009 to 4/30/2017. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
2 | See page 21 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
(as of 4/30/2017)
1 Year | 3 Year | 5 Year | Since Inception1 | ||||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | |||||||||||||||||||
IQ Real Return ETF Market Price2 | 2.06 | % | 1.22 | % | 0.80 | % | 1.23 | % | 9.62 | % | |||||||||||||
IQ Real Return ETF NAV | 1.94 | % | 1.18 | % | 0.82 | % | 1.22 | % | 9.52 | % | |||||||||||||
IQ Real Return Index | 2.22 | % | 1.54 | % | 1.21 | % | 1.68 | % | 13.30 | % | |||||||||||||
Bloomberg Barclays Short Treasury Total Return Index Value Unhedged USD | 0.47 | % | 0.29 | % | 0.24 | % | 0.23 | % | 1.77 | % |
1 | Fund Inception Date: 10/26/2009. |
2 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
2 | See page 23 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
(as of 4/30/2017)
1 Year | 3 Year | 5 Year | Since Inception1 | ||||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | |||||||||||||||||||
IQ Australia Small Cap ETF Market Price2 | 9.45 | % | –1.69 | % | –3.57 | % | –1.61 | % | –10.92 | % | |||||||||||||
IQ Australia Small Cap ETF NAV | 8.98 | % | –1.67 | % | –3.59 | % | –1.63 | % | –11.00 | % | |||||||||||||
IQ Australia Small Cap Index | 10.07 | % | –0.82 | % | –2.78 | % | –0.81 | % | –5.61 | % | |||||||||||||
MSCI Australia Small Cap Index3 | 16.95 | % | –0.34 | % | 4.11 | % | 4.30 | % | 34.90 | % | |||||||||||||
MSCI World Small Cap Index3 | 17.44 | % | 6.73 | % | 11.16 | % | 10.60 | % | 104.73 | % | |||||||||||||
MSCI EAFE Index | 11.29 | % | 0.86 | % | 6.78 | % | 5.18 | % | 43.12 | % |
1 | Fund Inception Date: 3/22/2010. |
2 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
3 | MSCI Australia Small Cap Index and MSCI World Small Cap Index have replaced the MSCI EAFE Index as the Fund’s benchmark Index. The new indexes closely align with the Fund’s Investment Strategy. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
2 | See page 25 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
(as of 4/30/2017)
1 Year | 3 Year | 5 Year | Since Inception1 | ||||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | |||||||||||||||||||
IQ Canada Small Cap ETF Market Price2 | 2.55 | % | –10.02 | % | –6.91 | % | –4.01 | % | –25.24 | % | |||||||||||||
IQ Canada Small Cap ETF NAV | 0.11 | % | –10.08 | % | –6.98 | % | –3.99 | % | –25.15 | % | |||||||||||||
IQ Canada Small Cap Index | 0.99 | % | –9.22 | % | –5.97 | % | –3.04 | % | –19.70 | % | |||||||||||||
MSCI Canada Small Cap Index | 1.67 | % | –7.06 | % | –3.20 | % | 0.07 | % | 0.49 | % |
1 | Fund Inception Date: 3/22/2010. |
2 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
2 | See page 27 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
(as of 4/30/2017)
1 Year | 3 Year | 5 Year | Since Inception1 | ||||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | |||||||||||||||||||
IQ Global Agribusiness Small Cap ETF Market Price2 | 13.32 | % | 8.63 | % | 7.55 | % | 5.78 | % | 40.95 | % | |||||||||||||
IQ Global Agribusiness Small Cap ETF NAV | 10.86 | % | 8.50 | % | 7.36 | % | 5.75 | % | 40.69 | % | |||||||||||||
IQ Global Agribusiness Small Cap Index | 12.06 | % | 9.25 | % | 8.17 | % | 6.52 | % | 47.08 | % | |||||||||||||
Russell Global Small Cap Agriculture Fishing & Ranching Index | 15.09 | % | 5.46 | % | 5.81 | % | 4.24 | % | 28.87 | % | |||||||||||||
MSCI World Small Cap Index | 17.44 | % | 6.73 | % | 11.16 | % | 8.98 | % | 69.03 | % |
1 | Fund Inception Date: 3/21/2011. |
2 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
2 | See page 29 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
(as of 4/30/2017)
1 Year | 3 Year | 5 Year | Since Inception1 | ||||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | |||||||||||||||||||
IQ Global Oil Small Cap ETF Market Price2 | –7.34 | % | –19.94 | % | –7.43 | % | –7.82 | % | –38.61 | % | |||||||||||||
IQ Global Oil Small Cap ETF NAV | –5.77 | % | –20.07 | % | –7.48 | % | –7.81 | % | –38.57 | % | |||||||||||||
IQ Global Oil Small Cap Index | –5.01 | % | –19.48 | % | –6.60 | % | –6.95 | % | –35.07 | % | |||||||||||||
Russell Global Small Cap Energy Index | 4.70 | % | –24.18 | % | –12.45 | % | –13.20 | % | –57.16 | % | |||||||||||||
MSCI World Small Cap Index | 17.44 | % | 6.73 | % | 11.16 | % | 8.33 | % | 61.48 | % |
1 | Fund Inception Date: 5/4/2011. |
2 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
2 | See page 31 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
(as of 4/30/2017)
1 Year | 3 Year | 5 Year | Since Inception1 | ||||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | |||||||||||||||||||
IQ U.S. Real Estate Small Cap ETF Market Price2 | 14.79 | % | 7.95 | % | 12.33 | % | 11.17 | % | 86.44 | % | |||||||||||||
IQ U.S. Real Estate Small Cap ETF NAV | 14.60 | % | 7.99 | % | 12.35 | % | 11.51 | % | 89.84 | % | |||||||||||||
IQ U.S. Real Estate Small Cap Index | 15.71 | % | 8.91 | % | 13.24 | % | 12.39 | % | 98.79 | % | |||||||||||||
Dow Jones U.S. Real Estate Index | 8.01 | % | 9.01 | % | 9.08 | % | 10.06 | % | 75.77 | % |
1 | Fund Inception Date: 6/13/2011. |
2 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
2 | See page 33 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
(as of 4/30/2017)
1 Year | Since Inception1 | ||||||||||||||
Average Annual | Average Annual | Cumulative | |||||||||||||
IQ 50 Percent Hedged FTSE International ETF Market Price2 | 16.28 | % | 2.09 | % | 3.75 | % | |||||||||
IQ 50 Percent Hedged FTSE International ETF NAV | 15.28 | % | 1.89 | % | 3.38 | % | |||||||||
FTSE Developed ex North America 50% Hedged to USD Index | 15.96 | % | 2.65 | % | 4.76 | % | |||||||||
FTSE Developed ex North America Index | 12.26 | % | 1.86 | % | 3.32 | % |
1 | Fund Inception Date: 7/22/2015. |
2 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
2 | See page 35 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
(as of 4/30/2017)
1 Year | Since Inception1 | ||||||||||||||
Average Annual | Average Annual | Cumulative | |||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF Market Price2 | 14.78 | % | 2.24 | % | 4.02 | % | |||||||||
IQ 50 Percent Hedged FTSE Europe ETF NAV | 15.48 | % | 1.98 | % | 3.55 | % | |||||||||
FTSE Developed Europe 50% Hedged to USD Index | 16.18 | % | 2.90 | % | 5.22 | % | |||||||||
FTSE Developed Europe Index | 11.17 | % | 0.39 | % | 0.69 | % |
1 | Fund Inception Date: 7/22/2015. |
2 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
2 | See page 37 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
(as of 4/30/2017)
1 Year | Since Inception1 | ||||||||||||||
Average Annual | Average Annual | Cumulative | |||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF Market Price2 | 10.17 | % | –1.45 | % | –2.56 | % | |||||||||
IQ 50 Percent Hedged FTSE Japan ETF NAV | 13.17 | % | –1.54 | % | –2.73 | % | |||||||||
FTSE Japan 50% Hedged to USD Index | 14.02 | % | –0.82 | % | –1.45 | % | |||||||||
FTSE Japan Index | 11.57 | % | 2.18 | % | 3.89 | % |
1 | Fund Inception Date: 7/22/2015. |
2 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
2 | See page 39 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
(as of 4/30/2017)
1 Year | Since Inception1 | ||||||||||||||
Average Annual | Average Annual | Cumulative | |||||||||||||
IQ Leaders GTAA Tracker ETF Market Price2 | 15.18 | % | 10.50 | % | 17.17 | % | |||||||||
IQ Leaders GTAA Tracker ETF NAV | 10.99 | % | 10.46 | % | 17.10 | % | |||||||||
IQ Leaders GTAA Tracker Index | 11.72 | % | 11.24 | % | 18.41 | % | |||||||||
MSCI All Cap World Index3 | 15.05 | % | 15.42 | % | 25.39 | % | |||||||||
MSCI All Country World Index3 | 15.14 | % | 15.40 | % | 25.50 | % | |||||||||
Morningstar World Allocation Mutual Fund Category Average | 8.77 | % | 8.80 | % | 14.29 | % |
1 | Fund Inception Date: 9/30/2015. |
2 | Beginning on May 31, 2016, the price used to calculate the market price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
3 | The MSCI All Country World Index has replaced the MSCI All Cap World Index as the Fund’s benchmark Index. The new index closely aligns with the Fund’s Investment Strategy. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | The price used to calculate the Market Price returns is determined by using the mid price between bid and ask price listed on the NYSE Arca and does not represent returns an investor would receive. |
2 | See page 41 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
(as of 4/30/2017)
Since Inception1 | ||||
Cumulative | ||||
IQ Enhanced Core Bond U.S. ETF Market Price2 | –0.29% | |||
IQ Enhanced Core Bond U.S. ETF NAV | –0.31% | |||
IQ Enhanced Core Bond U.S. Index | –0.02% | |||
Bloomberg Barclays U.S. Aggregate Bond Index | 0.57% |
1 | Fund Inception Date: 5/10/2016. |
2 | The price used to calculate the Market Price returns is determined by using the mid price between bid and ask price listed on the NYSE Arca and does not represent returns an investor would receive. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | The price used to calculate the market price returns is determined by using the mid price between bid and ask price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 43 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
(as of 4/30/2017)
Since Inception1 | ||||
Cumulative | ||||
IQ Enhanced Core Plus Bond U.S. ETF Market Price2 | 2.61% | |||
IQ Enhanced Core Plus Bond U.S. ETF NAV | 2.57% | |||
IQ Enhanced Core Plus Bond U.S. Index | 2.79% | |||
Bloomberg Barclays U.S. Aggregate Bond Index | 0.57% |
1 | Fund Inception Date: 5/10/2016. |
2 | The price used to calculate the Market Price returns is determined by using the mid price between bid and ask price listed on the NYSE Arca and does not represent returns an investor would receive. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | The price used to calculate the market price returns is determined by using the mid price between bid and ask price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 45 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2017)
(as of 4/30/2017)
Since Inception1 | ||||
Cumulative | ||||
IQ S&P High Yield Low Volatility Bond ETF Market Price2 | 1.93% | |||
IQ S&P High Yield Low Volatility Bond ETF NAV | 1.40% | |||
S&P U.S. High Yield Low Volatility Corporate Bond Index | 1.41% | |||
Merrill Lynch U.S. High Yield Master II Index | 1.74% |
1 | Fund Inception Date: 2/15/2017. |
2 | The price used to calculate the Market Price returns is determined by using the mid price between bid and ask price listed on the NYSE Arca and does not represent returns an investor would receive. |
Fund Expenses (unaudited) (continued)
Beginning Account Value 11/1/2016 | Ending Account Value 4/30/2017 | Annualized Expense Ratios for the Period 11/01/16 to 4/30/2017 | Expenses1 Paid During the Period 11/01/16 to 4/30/2017 | |||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,009.70 | 0.76 | % | $ | 3.79 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.03 | 0.76 | % | $ | 3.81 | ||||||||
IQ Hedge Macro Tracker ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,014.90 | 0.76 | % | $ | 3.80 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.03 | 0.76 | % | $ | 3.81 | ||||||||
IQ Hedge Market Neutral Tracker ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,004.10 | 0.76 | % | $ | 3.78 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.03 | 0.76 | % | $ | 3.81 | ||||||||
IQ Hedge Long/Short Tracker ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,073.60 | 0.76 | % | $ | 3.91 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.03 | 0.76 | % | $ | 3.81 | ||||||||
IQ Hedge Event-Driven Tracker ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,046.90 | 0.76 | % | $ | 3.86 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.03 | 0.76 | % | $ | 3.81 | ||||||||
IQ Global Resources ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,000.50 | 0.75 | % | $ | 3.72 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.08 | 0.75 | % | $ | 3.76 | ||||||||
IQ Merger Arbitrage ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,050.30 | 0.75 | % | $ | 3.81 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.08 | 0.75 | % | $ | 3.76 | ||||||||
IQ Real Return ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,017.50 | 0.49 | % | $ | 2.45 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,022.36 | 0.49 | % | $ | 2.46 | ||||||||
IQ Australia Small Cap ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,005.50 | 0.70 | % | $ | 3.48 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.32 | 0.70 | % | $ | 3.51 | ||||||||
IQ Canada Small Cap ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,016.50 | 0.70 | % | $ | 3.50 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.32 | 0.70 | % | $ | 3.51 | ||||||||
IQ Global Agribusiness Small Cap ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,066.90 | 0.76 | % | $ | 3.89 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.03 | 0.76 | % | $ | 3.81 | ||||||||
IQ Global Oil Small Cap ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,033.80 | 0.76 | % | $ | 3.83 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.03 | 0.76 | % | $ | 3.81 | ||||||||
IQ U.S. Real Estate Small Cap ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,081.10 | 0.70 | % | $ | 3.61 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.32 | 0.70 | % | $ | 3.51 | ||||||||
IQ 50 Percent Hedged FTSE International ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,121.40 | 0.35 | % | $ | 1.84 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.06 | 0.35 | % | $ | 1.76 | ||||||||
IQ 50 Percent Hedged FTSE Europe ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,139.40 | 0.45 | % | $ | 2.39 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,022.56 | 0.45 | % | $ | 2.26 | ||||||||
IQ 50 Percent Hedged FTSE Japan ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,074.30 | 0.45 | % | $ | 2.31 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,022.56 | 0.45 | % | $ | 2.26 | ||||||||
IQ Leaders GTAA Tracker ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,080.50 | 0.46 | % | $ | 2.37 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,022.51 | 0.46 | % | $ | 2.31 |
Fund Expenses (unaudited) (continued)
Beginning Account Value 11/1/2016 | Ending Account Value 4/30/2017 | Annualized Expense Ratios for the Period 11/01/16 to 4/30/2017 | Expenses1 Paid During the Period 11/01/16 to 4/30/2017 | |||||||||||||
IQ Enhanced Core Bond U.S. ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 983.40 | 0.21 | % | $ | 1.03 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.75 | 0.21 | % | $ | 1.05 | ||||||||
IQ Enhanced Core Plus Bond U.S. ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,008.70 | 0.21 | % | $ | 1.05 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.75 | 0.21 | % | $ | 1.05 | ||||||||
IQ S&P High Yield Low Volatility Bond ETF* | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,014.00 | 0.40 | % | $ | 0.83 | ||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,022.81 | 0.40 | % | $ | 2.01 |
* | Fund commenced operations on February 15, 2017. Expenses are calculated using the Fund’s annualized expense ratio, multiplied by the ending value for the period, multiplied by 75/365 (to reflect commencement of operation). |
1 | Unless otherwise indicated, expenses are calculated using the Fund’s annualized expense ratio, multiplied by the average account value for the period, multiplied by 181/365 |
Net Assets ($ mil): $1,062.6
Industry | % of Net Assets | |||||
Money Market Funds | 18.9 | % | ||||
Floating Rate Funds | 16.4 | |||||
Investment Grade Corporate Bond Funds | 11.6 | |||||
Convertible Bonds Fund | 8.9 | |||||
U.S. Short Term Treasury Bond Funds | 7.0 | |||||
Europe Equity Fund | 5.6 | |||||
Treasury Inflation-Protected Securities Funds | 5.5 | |||||
Mortgage Backed Securities Funds | 5.1 | |||||
U.S. Multi Cap Funds | 5.0 | |||||
U.S. Medium Term Treasury Bond Fund | 4.5 | |||||
Japan Equity Fund | 4.2 | |||||
BRIC Equity Funds | 3.9 | |||||
International Bond Funds | 3.9 | |||||
U.S. Large Cap Core Funds | 3.7 | |||||
Emerging Small Cap Equity Fund | 2.5 | |||||
U.S. Dollar Fund | 2.4 | |||||
U.S. Low Volatility Funds | 1.8 | |||||
Euro Fund | 1.7 | |||||
U.S. Small Cap Growth Funds | 1.6 | |||||
U.S. Large Cap Value Funds | 1.4 | |||||
Asia ex Japan Equity Funds | 1.0 | |||||
British Pound Fund | 0.8 | |||||
Municipal Bond Fund | 0.5 | |||||
Silver Fund | 0.3 | |||||
U.S. REITS Funds | 0.3 | |||||
U.S. Small Cap Value Funds | 0.2 | |||||
Gold Fund | 0.2 | |||||
Broad Funds | 0.1 | |||||
International Equity Core Funds | 0.1 | |||||
Total Investments | 119.1 | |||||
Other Assets and Liabilities, Net | (19.1 | ) | ||||
Total Net Assets | 100.0 | % |
Net Assets ($ mil): $6.4
Industry | % of Net Assets | |||||
U.S. Short Term Treasury Bond Funds | 33.1 | % | ||||
Money Market Fund | 20.2 | |||||
International Bond Funds | 11.4 | |||||
U.S. Multi Cap Funds | 11.2 | |||||
BRIC Equity Funds | 8.8 | |||||
Emerging Small Cap Equity Fund | 6.3 | |||||
Investment Grade Corporate Bond Funds | 5.2 | |||||
Europe Equity Fund | 4.2 | |||||
U.S. Medium Term Treasury Bond Fund | 4.2 | |||||
Treasury Inflation-Protected Securities Funds | 4.1 | |||||
International Small Cap Equity Funds | 3.9 | |||||
Japan Equity Fund | 3.2 | |||||
U.S. Dollar Fund | 2.0 | |||||
U.S. Large Cap Core Funds | 1.9 | |||||
Broad Funds | 0.3 | |||||
Silver Fund | 0.2 | |||||
Euro Fund | 0.2 | |||||
Gold Fund | 0.1 | |||||
Total Investments | 120.5 | |||||
Other Assets and Liabilities, Net | (20.5 | ) | ||||
Total Net Assets | 100.0 | % |
Net Assets ($ mil): $11.4
Industry | % of Net Assets | |||||
Floating Rate Funds | 33.7 | % | ||||
U.S. Short Term Treasury Bond Funds | 21.0 | |||||
Money Market Funds | 20.0 | |||||
Mortgage Backed Securities Funds | 13.6 | |||||
Investment Grade Corporate Bond Funds | 8.9 | |||||
U.S. Large Cap Growth Funds | 6.3 | |||||
U.S. Preferred Fund | 5.0 | |||||
U.S. Large Cap Core Funds | 2.6 | |||||
Euro Fund | 2.5 | |||||
Japan Equity Fund | 2.3 | |||||
British Pound Fund | 2.2 | |||||
Municipal Bond Fund | 1.4 | |||||
U.S. Small Cap Value Funds | 0.2 | |||||
U.S. Small Cap Growth Fund | 0.2 | |||||
Europe Equity Funds | 0.1 | |||||
Total Investments | 120.0 | |||||
Other Assets and Liabilities, Net | (20.0 | ) | ||||
Total Net Assets | 100.0 | % |
See notes to financial statements.
Portfolio Summaries (continued)
April 30, 2017
Net Assets ($ mil): $4.1
Industry | % of Net Assets | |||||
U.S. Large Cap Core Funds | 16.3 | % | ||||
U.S. Preferred Funds | 16.3 | |||||
Investment Grade Corporate Bond Funds | 14.0 | |||||
International Equity Core Fund | 14.0 | |||||
International Small Cap Equity Funds | 11.8 | |||||
U.S. Large Cap Growth Funds | 11.4 | |||||
Floating Rate Funds | 8.1 | |||||
Money Market Funds | 7.7 | |||||
U.S. Small Cap Growth Fund | 6.1 | |||||
Volatility Fund | 1.2 | |||||
U.S. Short Term Treasury Bond Funds | 0.7 | |||||
Total Investments | 107.6 | |||||
Other Assets and Liabilities, Net | (7.6 | ) | ||||
Total Net Assets | 100.0 | % |
Net Assets ($ mil): $3.1
Industry | % of Net Assets | |||||
Investment Grade Corporate Bond Fund | 35.7 | % | ||||
Convertible Bonds Fund | 32.0 | |||||
Floating Rate Funds | 23.4 | |||||
U.S. Small Cap Growth Fund | 7.4 | |||||
Money Market Funds | 2.6 | |||||
U.S. Large Cap Value Funds | 1.3 | |||||
U.S. Short Term Treasury Bond Funds | 0.1 | |||||
Total Investments | 102.5 | |||||
Other Assets and Liabilities, Net | (2.5 | ) | ||||
Total Net Assets | 100.0 | % |
Net Assets ($ mil): $179.5
Industry | % of Net Assets | |||||
Livestock | 20.8 | % | ||||
Precious Metals | 19.5 | |||||
Industrial Metals | 15.6 | |||||
Money Market Funds | 14.0 | |||||
Grains Food Fiber | 13.5 | |||||
Timber | 10.7 | |||||
Coal | 5.2 | |||||
Water | 2.7 | |||||
Energy | 2.2 | |||||
Total Investments | 104.2 | |||||
Other Assets and Liabilities, Net | (4.2 | ) | ||||
Total Net Assets | 100.0 | % |
Net Assets ($ mil): $188.8
Industry | % of Net Assets | |||||
Money Market Fund | 22.6 | % | ||||
Information Technology | 13.6 | |||||
Consumer Staples | 13.2 | |||||
Materials | 13.1 | |||||
Consumer Discretionary | 12.5 | |||||
Energy | 7.5 | |||||
Financials | 5.3 | |||||
U.S. Short Term Treasury Bond Funds | 5.1 | |||||
Telecommunication Services | 3.2 | |||||
Health Care | 2.9 | |||||
Utilities | 2.4 | |||||
Industrials | 1.3 | |||||
Real Estate | 0.8 | |||||
Total Investments | 103.5 | |||||
Other Assets and Liabilities, Net | (3.5 | ) | ||||
Total Net Assets | 100.0 | % |
Net Assets ($ mil): $28.6
Industry | % of Net Assets | |||||
U.S. Short Term Treasury Bond Funds | 69.9 | % | ||||
Money Market Funds | 12.3 | |||||
U.S. Large Cap Core Funds | 10.1 | |||||
U.S. Intermediate Term Treasury Bond Funds | 10.0 | |||||
U.S. REITS Funds | 9.9 | |||||
Total Investments | 112.2 | |||||
Other Assets and Liabilities, Net | (12.2 | ) | ||||
Total Net Assets | 100.0 | % |
Net Assets ($ mil): $8.1
Industry | % of Net Assets | |||||
Materials | 24.6 | % | ||||
Consumer Discretionary | 23.7 | |||||
Money Market Fund | 14.0 | |||||
Industrials | 13.4 | |||||
Financials | 9.4 | |||||
Health Care | 8.4 | |||||
Consumer Staples | 8.3 | |||||
Information Technology | 7.6 | |||||
Energy | 4.0 | |||||
Telecommunication Services | 0.5 | |||||
Total Investments | 113.9 | |||||
Other Assets and Liabilities, Net | (13.9 | ) | ||||
Total Net Assets | 100.0 | % |
See notes to financial statements.
Portfolio Summaries (continued)
April 30, 2017
Net Assets ($ mil): $10.6
Industry | % of Net Assets | |||||
Materials | 32.3 | % | ||||
Energy | 24.3 | |||||
Industrials | 12.4 | |||||
Utilities | 9.0 | |||||
Money Market Funds | 7.9 | |||||
Consumer Discretionary | 7.8 | |||||
Consumer Staples | 6.0 | |||||
Financials | 3.2 | |||||
Health Care | 2.7 | |||||
Information Technology | 1.5 | |||||
Real Estate | 0.6 | |||||
Total Investments | 107.7 | |||||
Other Assets and Liabilities, Net | (7.7 | ) | ||||
Total Net Assets | 100.0 | % |
Net Assets ($ mil): $13.2
Industry | % of Net Assets | |||||
Crop Production and Farming | 47.4 | % | ||||
Livestock Operations | 22.7 | |||||
Agricultural Chemicals | 14.3 | |||||
Agricultural Machinery | 9.5 | |||||
Agricultural Supplies and Logistics | 5.7 | |||||
Money Market Fund | 3.8 | |||||
Total Investments | 103.4 | |||||
Other Assets and Liabilities, Net | (3.4 | ) | ||||
Total Net Assets | 100.0 | % |
Net Assets ($ mil): $2.7
Industry | % of Net Assets | |||||
Equipment, Services & Drilling | 46.3 | % | ||||
Exploration & Production | 30.7 | |||||
Money Market Fund | 23.9 | |||||
Refining & Marketing | 22.7 | |||||
Total Investments | 123.6 | |||||
Other Assets and Liabilities, Net | (23.6 | ) | ||||
Total Net Assets | 100.0 | % |
Net Assets ($ mil): $114.0
Industry | % of Net Assets | |||||
Office REITs | 20.0 | % | ||||
Specialized REITs | 16.2 | |||||
Diversified REITs | 15.9 | |||||
Retail REITs | 14.9 | |||||
Hotel REITs | 13.7 | |||||
Mortgage REITs | 12.9 | |||||
Money Market Funds | 9.0 | |||||
Residential REITs | 6.1 | |||||
Total Investments | 108.7 | |||||
Other Assets and Liabilities, Net | (8.7 | ) | ||||
Total Net Assets | 100.0 | % |
Net Assets ($ mil): $208.6
Industry | % of Net Assets | |||||
Financials | 20.8 | % | ||||
Industrials | 14.9 | |||||
Consumer Discretionary | 12.4 | |||||
Consumer Staples | 10.9 | |||||
Health Care | 10.5 | |||||
Materials | 8.2 | |||||
Information Technology | 7.2 | |||||
Energy | 4.7 | |||||
Telecommunication Services | 3.7 | |||||
Real Estate | 3.4 | |||||
Utilities | 3.1 | |||||
Money Market Fund | 2.5 | |||||
Total Investments | 102.3 | |||||
Other Assets and Liabilities, Net | (2.3 | ) | ||||
Total Net Assets | 100.0 | % |
See notes to financial statements.
Portfolio Summaries (continued)
April 30, 2017
Net Assets ($ mil): $81.8
Industry | % of Net Assets | |||||
Financials | 20.6 | % | ||||
Industrials | 13.6 | |||||
Consumer Staples | 13.5 | |||||
Health Care | 13.1 | |||||
Consumer Discretionary | 11.1 | |||||
Materials | 8.3 | |||||
Energy | 6.7 | |||||
Information Technology | 4.1 | |||||
Telecommunication Services | 3.7 | |||||
Money Market Funds | 3.6 | |||||
Utilities | 3.5 | |||||
Real Estate | 1.6 | |||||
Total Investments | 103.4 | |||||
Other Assets and Liabilities, Net | (3.4 | ) | ||||
Total Net Assets | 100.0 | % |
Net Assets ($ mil): $27.7
Industry | % of Net Assets | |||||
Industrials | 21.1 | % | ||||
Consumer Discretionary | 20.1 | |||||
Financials | 13.6 | |||||
Information Technology | 11.2 | |||||
Consumer Staples | 8.6 | |||||
Health Care | 7.6 | |||||
Materials | 6.9 | |||||
Telecommunication Services | 4.6 | |||||
Real Estate | 3.1 | |||||
Utilities | 2.1 | |||||
Energy | 0.9 | |||||
Money Market Fund | 0.6 | |||||
Total Investments | 100.4 | |||||
Other Assets and Liabilities, Net | (0.4 | ) | ||||
Total Net Assets | 100.0 | % |
Net Assets ($ mil): $34.2
Industry | % of Net Assets | |||||
High Yield Corporate Bond Funds | 26.5 | % | ||||
Money Market Funds | 23.3 | |||||
International Equity Core Funds | 22.8 | |||||
U.S. Large Cap Core Funds | 21.4 | |||||
U.S. Medium Term Treasury Bond Fund | 8.8 | |||||
Investment Grade Corporate Bond Funds | 8.3 | |||||
Emerging Equity Funds | 7.1 | |||||
U.S. Small Cap Core Funds | 2.6 | |||||
Aggregate Bond Funds | 2.3 | |||||
Total Investments | 123.1 | |||||
Other Assets and Liabilities, Net | (23.1 | ) | ||||
Total Net Assets | 100.0 | % |
Net Assets ($ mil): $74.2
Industry | % of Net Assets | |||||
Investment Grade Corporate Bond Funds | 50.2 | % | ||||
U.S. Short Term Treasury Bond Funds | 49.8 | |||||
Money Market Fund | 0.2 | |||||
Total Investments | 100.2 | |||||
Other Assets and Liabilities, Net | (0.2 | ) | ||||
Total Net Assets | 100.0 | % |
Net Assets ($ mil): $230.8
Industry | % of Net Assets | |||||
Investment Grade Corporate Bond Funds | 29.5 | % | ||||
High Yield Corporate Bond Funds | 25.0 | |||||
Mortgage Backed Securities Funds | 21.0 | |||||
Money Market Fund | 15.3 | |||||
U.S. Short Term Treasury Bond Funds | 10.0 | |||||
U.S. Intermediate Term Treasury Bond Funds | 9.6 | |||||
Emerging Market Bond Funds | 4.3 | |||||
U.S. Long Term Treasury Bond Funds | 0.6 | |||||
Total Investments | 115.3 | |||||
Other Assets and Liabilities, Net | (15.3 | ) | ||||
Total Net Assets | 100.0 | % |
See notes to financial statements.
Portfolio Summaries (continued)
April 30, 2017
Net Assets ($ mil): $49.1
Industry | % of Net Assets | |||||
Media | 13.8 | % | ||||
Telecommunications | 9.4 | |||||
Healthcare-Services | 8.1 | |||||
Oil & Gas | 4.6 | |||||
Pipelines | 4.5 | |||||
Diversified Financial Services | 4.1 | |||||
Software | 3.9 | |||||
Commercial Services | 3.4 | |||||
Lodging | 3.4 | |||||
REITS | 2.9 | |||||
Retail | 2.8 | |||||
Packaging & Containers | 2.8 | |||||
Entertainment | 2.8 | |||||
Computers | 2.6 | |||||
Food | 2.5 | |||||
Internet | 2.4 | |||||
Mining | 2.1 | |||||
Chemicals | 1.9 | |||||
Home Builders | 1.9 | |||||
Auto Parts & Equipment | 1.9 | |||||
Auto Manufacturers | 1.3 | |||||
Money Market Fund | 1.2 | |||||
Aerospace/Defense | 1.1 | |||||
Building Materials | 1.1 | |||||
Electric | 1.1 | |||||
Semiconductors | 1.1 | |||||
Machinery-Diversified | 1.0 | |||||
Iron/Steel | 0.7 | |||||
Trucking & Leasing | 0.7 | |||||
Advertising | 0.7 | |||||
Metal Fabricate/Hardware | 0.6 | |||||
Engineering & Construction | 0.6 | |||||
Distribution/Wholesale | 0.6 | |||||
Leisure Time | 0.6 | |||||
Transportation | 0.5 | |||||
Apparel | 0.5 | |||||
Food Service | 0.5 | |||||
Airlines | 0.4 | |||||
Office/Business Equipment | 0.4 | |||||
Healthcare-Products | 0.4 | |||||
Real Estate | 0.4 | |||||
Shipbuilding | 0.3 | |||||
Beverages | 0.3 | |||||
Environmental Control | 0.3 | |||||
Household Products/Wares | 0.2 | |||||
Holding Companies-Diversified | 0.2 | |||||
Miscellaneous Manufacturing | 0.1 | |||||
Home Furnishings | 0.1 | |||||
Cosmetics/Personal Care | 0.1 | |||||
Total Investments | 98.9 | |||||
Other Assets and Liabilities, Net | 1.1 | |||||
Total Net Assets | 100.0 | % |
See notes to financial statements.
Shares | Value | |||||||||
Exchange Traded Note — 0.0% | ||||||||||
Broad Fund — 0.0%(a) | ||||||||||
iPath Bloomberg Commodity Index Total Return ETN*(b) (Cost $338,344) | 14,331 | $ | 330,759 | |||||||
Investment Companies — 100.2% | ||||||||||
Asia ex Japan Equity Funds — 1.0% | ||||||||||
iShares MSCI All Country Asia ex Japan ETF(b) | 53,262 | 3,419,953 | ||||||||
iShares MSCI Pacific ex Japan ETF | 70,985 | 3,181,548 | ||||||||
Vanguard FTSE Pacific ETF(b) | 66,282 | 4,226,140 | ||||||||
Total Asia ex Japan Equity Funds | 10,827,641 | |||||||||
BRIC Equity Funds — 3.9% | ||||||||||
iShares China Large-Cap ETF(b) | 541,877 | 20,878,521 | ||||||||
iShares MSCI China ETF(b) | 295,194 | 15,102,125 | ||||||||
SPDR S&P China ETF | 67,402 | 5,646,939 | ||||||||
Total BRIC Equity Funds | 41,627,585 | |||||||||
British Pound Fund — 0.8% | ||||||||||
CurrencyShares British Pound Sterling Trust* | 69,295 | 8,744,336 | ||||||||
Broad Fund — 0.1% | ||||||||||
PowerShares DB Commodity Index Tracking Fund* | 55,057 | 814,844 | ||||||||
Convertible Bonds Fund — 8.9% | ||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF(b) | 1,940,234 | 94,605,810 | ||||||||
Emerging Small Cap Equity Fund — 2.5% | ||||||||||
SPDR S&P Emerging Markets SmallCap ETF† (b) | 579,096 | 26,736,862 | ||||||||
Euro Fund — 1.7% | ||||||||||
CurrencyShares Euro Trust†*(b) | 175,373 | 18,505,359 | ||||||||
Europe Equity Fund — 5.6% | ||||||||||
Deutsche X-trackers MSCI Europe Hedged Equity ETF(b) | 2,158,072 | 59,368,561 | ||||||||
Floating Rate Funds — 16.4% | ||||||||||
iShares Floating Rate Bond ETF(b) | 1,051,458 | 53,477,154 | ||||||||
PowerShares Senior Loan Portfolio(b)(c) | 4,453,245 | 103,671,544 | ||||||||
SPDR Blackstone / GSO Senior Loan ETF(b) | 358,952 | 17,060,988 | ||||||||
Total Floating Rate Funds | 174,209,686 | |||||||||
Gold Fund — 0.2% | ||||||||||
PowerShares DB Gold Fund*(b) | 40,519 | 1,645,882 | ||||||||
International Bond Funds — 3.9% | ||||||||||
iShares J.P. Morgan USD Emerging Markets Bond ETF(b) | 164,158 | 18,911,002 | ||||||||
PowerShares Emerging Markets Sovereign Debt Portfolio(b) | 262,048 | 7,725,175 | ||||||||
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF(b) | 714,869 | 13,346,604 | ||||||||
WisdomTree Emerging Markets Local Debt Fund | 28,796 | 1,087,049 | ||||||||
Total International Bond Funds | 41,069,830 | |||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
International Equity Core Funds — 0.1% | ||||||||||
iShares Core MSCI EAFE ETF(b)(c) | 5,619 | $ | 334,443 | |||||||
Vanguard FTSE Developed Markets ETF(b) | 18,661 | 749,612 | ||||||||
Total International Equity Core Funds | 1,084,055 | |||||||||
Investment Grade Corporate Bond Funds — 11.6% | ||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF(c) | 100,437 | 11,950,999 | ||||||||
iShares U.S. Credit Bond ETF | 2,697 | 298,612 | ||||||||
Vanguard Short-Term Corporate Bond ETF(c) | 1,393,763 | 111,389,539 | ||||||||
Total Investment Grade Corporate Bond Funds | 123,639,150 | |||||||||
Japan Equity Fund — 4.2% | ||||||||||
Deutsche X-trackers MSCI Japan Hedged Equity ETF(b) | 1,176,495 | 44,459,746 | ||||||||
Mortgage Backed Securities Funds — 5.1% | ||||||||||
iShares MBS ETF(b) | 369,033 | 39,482,840 | ||||||||
Vanguard Mortgage-Backed Securities ETF | 269,744 | 14,220,904 | ||||||||
Total Mortgage Backed Securities Funds | 53,703,744 | |||||||||
Municipal Bond Fund — 0.5% | ||||||||||
VanEck Vectors High-Yield Municipal Index ETF(b) | 183,261 | 5,618,782 | ||||||||
Silver Fund — 0.3% | ||||||||||
iShares Silver Trust*(b) | 202,084 | 3,293,969 | ||||||||
Treasury Inflation-Protected Securities Funds — 5.5% | ||||||||||
iShares 0-5 Year TIPS Bond ETF | 122,001 | 12,355,041 | ||||||||
PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fund(b) | 219,703 | 11,560,772 | ||||||||
Vanguard Short-Term Inflation-Protected Securities ETF(b) | 695,663 | 34,407,492 | ||||||||
Total Treasury Inflation-Protected Securities Funds | 58,323,305 | |||||||||
U.S. Dollar Fund — 2.4% | ||||||||||
PowerShares DB U.S. Dollar Index Bullish Fund*(b) | 1,012,681 | 25,894,253 | ||||||||
U.S. Large Cap Core Funds — 3.7% | ||||||||||
Energy Select Sector SPDR Fund(b) | 167,250 | 11,346,240 | ||||||||
Materials Select Sector SPDR Fund(b) | 339,045 | 17,993,118 | ||||||||
PowerShares KBW Bank Portfolio(b) | 43,368 | 2,041,765 | ||||||||
SPDR S&P Bank ETF(b) | 193,038 | 8,227,280 | ||||||||
Total U.S. Large Cap Core Funds | 39,608,403 | |||||||||
U.S. Large Cap Value Funds — 1.4% | ||||||||||
Guggenheim S&P 500 Pure Value ETF | 3,120 | 183,674 | ||||||||
iShares Russell 1000 Value ETF(b) | 56,844 | 6,521,144 | ||||||||
iShares S&P 500 Value ETF(b) | 23,452 | 2,437,601 | ||||||||
Vanguard Value ETF(b) | 56,462 | 5,383,087 | ||||||||
Total U.S. Large Cap Value Funds | 14,525,506 |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Low Volatility Funds — 1.8% | ||||||||||
iShares Edge MSCI Min Vol USA ETF(b) | 256,412 | $ | 12,407,777 | |||||||
PowerShares S&P 500 Low Volatility Portfolio(b) | 147,994 | 6,488,057 | ||||||||
Total U.S. Low Volatility Funds | 18,895,834 | |||||||||
U.S. Medium Term Treasury Bond Fund — 4.5% | ||||||||||
iShares 3-7 Year Treasury Bond ETF(b) | 387,644 | 47,959,316 | ||||||||
U.S. Multi Cap Funds — 5.0% | ||||||||||
Schwab U.S. Broad Market ETF | 92,934 | 5,355,786 | ||||||||
Vanguard Total Stock Market ETF(b) | 388,183 | 47,595,118 | ||||||||
Total U.S. Multi Cap Funds | 52,950,904 | |||||||||
U.S. REITS Funds — 0.3% | ||||||||||
iShares U.S. Real Estate ETF | 3,899 | 307,748 | ||||||||
SPDR Dow Jones REIT ETF | 2,206 | 203,151 | ||||||||
Vanguard REIT ETF(b) | 26,742 | 2,213,970 | ||||||||
Total U.S. REITS Funds | 2,724,869 | |||||||||
U.S. Short Term Treasury Bond Funds — 7.0% | ||||||||||
iShares Short Treasury Bond ETF(b) | 115,082 | 12,692,394 | ||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | 107,962 | 4,937,102 | ||||||||
Vanguard Short-Term Bond ETF | 714,295 | 57,100,742 | ||||||||
Total U.S. Short Term Treasury Bond Funds | 74,730,238 | |||||||||
U.S. Small Cap Growth Funds — 1.6% | ||||||||||
iShares Russell 2000 Growth ETF(b) | 44,022 | 7,250,864 | ||||||||
iShares S&P Small-Cap 600 Growth ETF(b) | 26,613 | 4,125,015 | ||||||||
Vanguard Small-Cap Growth ETF(b) | 39,775 | 5,671,119 | ||||||||
Total U.S. Small Cap Growth Funds | 17,046,998 | |||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Small Cap Value Funds — 0.2% | ||||||||||
iShares Russell 2000 Value ETF | 6,200 | $ | 735,320 | |||||||
iShares S&P Small-Cap 600 Value ETF(b) | 2,935 | 409,022 | ||||||||
Vanguard Small-Cap Value ETF(b) | 7,569 | 933,636 | ||||||||
Total U.S. Small Cap Value Funds | 2,077,978 | |||||||||
Total Investment Companies (Cost $1,049,688,352) | 1,064,693,446 | |||||||||
Short-Term Investment — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 0.61%(d) (Cost $775,658) | 775,658 | 775,658 | ||||||||
Investment of Cash Collateral For Securities Loaned — 18.8% | ||||||||||
Money Market Fund — 18.8% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(e) (Cost $200,211,821) | 200,211,821 | 200,211,821 | ||||||||
Total Investments — 119.1% (Cost $1,251,014,175) | 1,266,011,684 | |||||||||
Other Assets and Liabilities, Net — (19.1)% | (203,432,287 | ) | ||||||||
Net Assets — 100.0% | $ | 1,062,579,397 |
* | Non-income producing securities. |
† | Affiliated Fund. |
(a) | Less than 0.05%. |
(b) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $195,023,531; total market value of collateral held by the Fund was $200,211,821. |
(c) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $85,558,470. |
(d) | Reflects the 7-day yield at April 30, 2017. |
(e) | Reflects the 1-day yield at April 30, 2017. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
April 30, 2017
Total Return Benchmark | Counterparties | Annual Financing Rate Received (Paid)% | Expiration Date | Notional Amount Long (Short) | Unrealized Appreciation (Depreciation)(f) | |||||||||
CurrencyShares Australian Dollar Trust | Morgan Stanley | (2.35) | 5/21/2018 | $ | (5,140,434 | ) | $ | — | ||||||
CurrencyShares Australian Dollar Trust | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (571,192 | ) | — | ||||||||
CurrencyShares British Pound Sterling Trust | Morgan Stanley | 1.91 | 5/21/2018 | 1,656,370 | — | |||||||||
CurrencyShares British Pound Sterling Trust | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 183,985 | — | |||||||||
CurrencyShares Euro Trust | Morgan Stanley | 1.91 | 5/21/2018 | 3,505,480 | — | |||||||||
CurrencyShares Euro Trust | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 389,474 | — | |||||||||
CurrencyShares Japanese Yen Trust | Morgan Stanley | (1.35) | 5/21/2018 | (6,056,198 | ) | — | ||||||||
CurrencyShares Japanese Yen Trust | Bank of America Merrill Lynch | 0.50 | 8/31/2018 – 10/31/2018 | (672,892 | ) | — | ||||||||
Deutsche X-trackers MSCI EAFE Hedged Equity ETF | Morgan Stanley | (1.10) | 5/21/2018 | (12,818,681 | ) | — | ||||||||
Deutsche X-trackers MSCI EAFE Hedged Equity ETF | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (1,424,303 | ) | — | ||||||||
Deutsche X-trackers MSCI Europe Hedged Equity ETF | Morgan Stanley | 1.91 | 5/21/2018 | 11,245,923 | — | |||||||||
Deutsche X-trackers MSCI Europe Hedged Equity ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 1,249,533 | — | |||||||||
Deutsche X-trackers MSCI Japan Hedged Equity ETF | Morgan Stanley | 1.91 | 5/21/2018 | 8,421,766 | — | |||||||||
Deutsche X-trackers MSCI Japan Hedged Equity ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 935,757 | — | |||||||||
Energy Select Sector SPDR Fund | Morgan Stanley | 1.91 | 5/21/2018 | 2,149,171 | — | |||||||||
Energy Select Sector SPDR Fund | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 238,797 | — | |||||||||
Financial Select Sector SPDR Fund | Morgan Stanley | 0.30 | 5/21/2018 | (10,309,975 | ) | — | ||||||||
Guggenheim S&P 500 Pure Value ETF | Morgan Stanley | 1.91 | 5/21/2018 | 34,733 | — | |||||||||
Guggenheim S&P 500 Pure Value ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 3,827 | — | |||||||||
Health Care Select Sector SPDR Fund | Morgan Stanley | 0.40 | 5/21/2018 | (2,816,301 | ) | — | ||||||||
iPath Bloomberg Commodity Index Total Return ETN | Morgan Stanley | 1.91 | 5/21/2018 | 62,685 | — | |||||||||
iPath Bloomberg Commodity Index Total Return ETN | Bank of America Merrill Lynch | 1.49 | 7/31/2018 – 10/31/2018 | 6,970 | — | |||||||||
iPATH S&P 500 VIX Short-Term Futures ETN | Morgan Stanley | (2.60) | 5/21/2018 | (3,104,713 | ) | — | ||||||||
iPATH S&P 500 VIX Short-Term Futures ETN | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (344,974 | ) | — | ||||||||
iShares 0-5 Year TIPS Bond ETF | Morgan Stanley | 1.91 | 5/21/2018 | 2,340,248 | — | |||||||||
iShares 0-5 Year TIPS Bond ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 260,061 | — | |||||||||
iShares 3-7 Year Treasury Bond ETF | Morgan Stanley | 1.91 | 5/21/2018 | 9,084,760 | — | |||||||||
iShares 3-7 Year Treasury Bond ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 1,009,432 | — | |||||||||
iShares China Large-Cap ETF | Morgan Stanley | 1.91 | 5/21/2018 | 4,394,269 | — | |||||||||
iShares Core MSCI EAFE ETF | Morgan Stanley | 1.91 | 5/21/2018 | 63,448 | — | |||||||||
iShares Core MSCI EAFE ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 7,023 | — | |||||||||
iShares Core MSCI Emerging Markets ETF | Morgan Stanley | (0.10) | 5/21/2018 | (211,991 | ) | — | ||||||||
iShares Core MSCI Emerging Markets ETF | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (23,571 | ) | — | ||||||||
iShares Edge MSCI Min Vol Emerging Markets ETF | Morgan Stanley | (0.90) | 5/21/2018 | (26,426,288 | ) | — | ||||||||
iShares Edge MSCI Min Vol Emerging Markets ETF | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (2,936,277 | ) | — | ||||||||
iShares Edge MSCI Min Vol USA ETF | Morgan Stanley | 1.91 | 5/21/2018 | 2,350,351 | — | |||||||||
iShares Edge MSCI Min Vol USA ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 261,161 | — | |||||||||
iShares Europe ETF | Morgan Stanley | (3.25) | 5/21/2018 | (1,644,049 | ) | — | ||||||||
iShares Europe ETF | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (182,677 | ) | — | ||||||||
iShares Floating Rate Bond ETF | Morgan Stanley | 1.91 | 5/21/2018 | 10,129,786 | — | |||||||||
iShares Floating Rate Bond ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 1,125,532 | — | |||||||||
iShares iBoxx $ High Yield Corporate Bond ETF | Morgan Stanley | (1.51) | 5/21/2018 | (9,263,791 | ) | — | ||||||||
iShares iBoxx $ High Yield Corporate Bond ETF | Bank of America Merrill Lynch | 0.50 | 6/29/2018 – 10/31/2018 | (1,029,329 | ) | — | ||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | Morgan Stanley | 1.91 | 5/21/2018 | 2,263,904 | — | |||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | Bank of America Merrill Lynch | 1.50 | 9/28/2018 – 10/31/2018 | 251,545 | — | |||||||||
iShares J.P. Morgan USD Emerging Markets Bond ETF | Morgan Stanley | 1.91 | 5/21/2018 | 3,582,029 | — | |||||||||
iShares J.P. Morgan USD Emerging Markets Bond ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 398,016 | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
April 30, 2017
Total Return Benchmark | Counterparties | Annual Financing Rate Received (Paid)% | Expiration Date | Notional Amount Long (Short) | Unrealized Appreciation (Depreciation)(f) | |||||||||
iShares MBS ETF | Morgan Stanley | 1.91 | 5/21/2018 | $ | 7,478,922 | $ | — | |||||||
iShares MBS ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 830,992 | — | |||||||||
iShares MSCI All Country Asia ex Japan ETF | Morgan Stanley | 1.91 | 5/21/2018 | 647,815 | — | |||||||||
iShares MSCI All Country Asia ex Japan ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 71,979 | — | |||||||||
iShares MSCI China ETF | Morgan Stanley | 1.91 | 5/21/2018 | 3,178,622 | — | |||||||||
iShares MSCI EAFE Small-Cap ETF | Morgan Stanley | (2.35) | 5/21/2018 | (1,351,090 | ) | — | ||||||||
iShares MSCI EAFE Small-Cap ETF | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (150,134 | ) | — | ||||||||
iShares MSCI Eurozone ETF | Morgan Stanley | 0.15 | 5/21/2018 | (6,052,966 | ) | — | ||||||||
iShares MSCI Eurozone ETF | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (672,534 | ) | — | ||||||||
iShares MSCI Japan ETF | Morgan Stanley | 0.41 | 5/21/2018 | (28,767,157 | ) | — | ||||||||
iShares MSCI Japan ETF | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (3,196,338 | ) | — | ||||||||
iShares MSCI Pacific ex Japan ETF | Morgan Stanley | 1.91 | 5/21/2018 | 602,560 | — | |||||||||
iShares MSCI Pacific ex Japan ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 66,961 | — | |||||||||
iShares Russell 1000 Growth ETF | Morgan Stanley | (0.47) | 5/21/2018 | (13,120,046 | ) | — | ||||||||
iShares Russell 1000 Growth ETF | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (1,457,731 | ) | — | ||||||||
iShares Russell 1000 Value ETF | Morgan Stanley | 1.91 | 5/21/2018 | 1,235,305 | — | |||||||||
iShares Russell 1000 Value ETF | Bank of America Merrill Lynch | 1.50 | 7/31/2018 – 10/31/2018 | 137,205 | — | |||||||||
iShares Russell 2000 ETF | Morgan Stanley | (0.10) | 5/21/2018 | (10,000,639 | ) | — | ||||||||
iShares Russell 2000 ETF | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (1,111,228 | ) | — | ||||||||
iShares Russell 2000 Growth ETF | Morgan Stanley | 1.91 | 5/21/2018 | 1,373,187 | — | |||||||||
iShares Russell 2000 Growth ETF | Bank of America Merrill Lynch | 1.50 | 8/31/2018 – 10/31/2018 | 152,521 | — | |||||||||
iShares Russell 2000 Value ETF | Morgan Stanley | 1.91 | 5/21/2018 | 139,592 | — | |||||||||
iShares Russell 2000 Value ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 15,537 | — | |||||||||
iShares S&P 500 Growth ETF | Morgan Stanley | (1.60) | 5/21/2018 | (6,299,013 | ) | — | ||||||||
iShares S&P 500 Growth ETF | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (699,920 | ) | — | ||||||||
iShares S&P 500 Value ETF | Morgan Stanley | 1.91 | 5/21/2018 | 461,701 | — | |||||||||
iShares S&P 500 Value ETF | Bank of America Merrill Lynch | 1.50 | 7/31/2018 – 10/31/2018 | 51,346 | — | |||||||||
iShares S&P Small-Cap 600 Growth ETF | Morgan Stanley | 1.91 | 5/21/2018 | 781,665 | — | |||||||||
iShares S&P Small-Cap 600 Growth ETF | Bank of America Merrill Lynch | 1.50 | 8/31/2018 – 10/31/2018 | 86,800 | — | |||||||||
iShares S&P Small-Cap 600 Value ETF | Morgan Stanley | 1.91 | 5/21/2018 | 77,484 | — | |||||||||
iShares S&P Small-Cap 600 Value ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 8,640 | — | |||||||||
iShares Short Treasury Bond ETF | Morgan Stanley | 1.91 | 5/21/2018 | 2,404,322 | — | |||||||||
iShares Short Treasury Bond ETF | Bank of America Merrill Lynch | 1.50 | 5/31/2018 – 10/31/2018 | 267,122 | — | |||||||||
iShares Silver Trust | Morgan Stanley | 1.91 | 5/21/2018 | 623,948 | — | |||||||||
iShares Silver Trust | Bank of America Merrill Lynch | 1.50 | 7/31/2018 – 10/31/2018 | 69,324 | — | |||||||||
iShares U.S. Credit Bond ETF | Morgan Stanley | 1.91 | 5/21/2018 | 56,689 | — | |||||||||
iShares U.S. Credit Bond ETF | Bank of America Merrill Lynch | 1.50 | 7/31/2018 – 9/28/2018 | 6,311 | — | |||||||||
iShares U.S. Preferred Stock ETF | Morgan Stanley | (1.60) | 5/21/2018 | (9,688,134 | ) | — | ||||||||
iShares U.S. Preferred Stock ETF | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (1,076,441 | ) | — | ||||||||
iShares U.S. Real Estate ETF | Morgan Stanley | 1.91 | 5/21/2018 | 58,171 | — | |||||||||
iShares U.S. Real Estate ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 6,472 | — | |||||||||
Materials Select Sector SPDR Fund | Morgan Stanley | 1.91 | 5/21/2018 | 3,408,315 | — | |||||||||
Materials Select Sector SPDR Fund | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 378,708 | — | |||||||||
PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fund | Morgan Stanley | 1.91 | 5/21/2018 | 2,189,834 | — | |||||||||
PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fund | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 243,315 | — | |||||||||
PowerShares DB Commodity Index Tracking Fund | Morgan Stanley | 1.91 | 5/21/2018 | 154,379 | — | |||||||||
PowerShares DB Commodity Index Tracking Fund | Bank of America Merrill Lynch | 1.49 | 7/31/2018 – 10/31/2018 | 17,153 | — | |||||||||
PowerShares DB Gold Fund | Morgan Stanley | 1.91 | 5/21/2018 | 311,840 | — | |||||||||
PowerShares DB Gold Fund | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 34,649 | — | |||||||||
PowerShares DB U.S. Dollar Index Bullish Fund | Morgan Stanley | 1.91 | 5/21/2018 | 4,904,991 | — | |||||||||
PowerShares DB U.S. Dollar Index Bullish Fund | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 545,000 | — | |||||||||
PowerShares Emerging Markets Sovereign Debt Portfolio | Morgan Stanley | 1.91 | 5/21/2018 | 1,463,299 | — | |||||||||
PowerShares Emerging Markets Sovereign Debt Portfolio | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 162,582 | — | |||||||||
PowerShares KBW Bank Portfolio | Morgan Stanley | 1.91 | 5/21/2018 | 386,715 | — | |||||||||
PowerShares KBW Bank Portfolio | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 42,984 | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
April 30, 2017
Total Return Benchmark | Counterparties | Annual Financing Rate Received (Paid)% | Expiration Date | Notional Amount Long (Short) | Unrealized Appreciation (Depreciation)(f) | |||||||||
PowerShares S&P 500 Low Volatility Portfolio | Morgan Stanley | 1.91 | 5/21/2018 | $ | 1,228,967 | $ | — | |||||||
PowerShares S&P 500 Low Volatility Portfolio | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 136,562 | — | |||||||||
PowerShares Senior Loan Portfolio | Morgan Stanley | 1.91 | 5/21/2018 | 19,637,937 | — | |||||||||
PowerShares Senior Loan Portfolio | Bank of America Merrill Lynch | 1.50 | 5/31/2018 – 10/31/2018 | 2,181,990 | — | |||||||||
Schwab U.S. Broad Market ETF | Morgan Stanley | 1.91 | 5/21/2018 | 1,014,634 | — | |||||||||
Schwab U.S. Broad Market ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 112,724 | — | |||||||||
Schwab U.S. Small-Cap ETF | Morgan Stanley | 0.40 | 5/21/2018 | (1,355,004 | ) | — | ||||||||
Schwab U.S. Small-Cap ETF | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (150,535 | ) | — | ||||||||
SPDR Blackstone / GSO Senior Loan ETF | Morgan Stanley | 1.91 | 5/21/2018 | 3,231,707 | — | |||||||||
SPDR Blackstone / GSO Senior Loan ETF | Bank of America Merrill Lynch | 1.50 | 5/31/2018 – 10/31/2018 | 359,089 | — | |||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | Morgan Stanley | 1.91 | 5/21/2018 | 935,179 | — | |||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | Bank of America Merrill Lynch | 1.50 | 5/31/2018 – 10/31/2018 | 103,899 | — | |||||||||
SPDR Bloomberg Barclays Convertible Securities ETF | Morgan Stanley | 1.91 | 5/21/2018 | 17,920,714 | — | |||||||||
SPDR Bloomberg Barclays Convertible Securities ETF | Bank of America Merrill Lynch | 1.50 | 6/29/2018 – 10/31/2018 | 1,991,213 | — | |||||||||
SPDR Bloomberg Barclays High Yield Bond ETF | Morgan Stanley | 0.51 | 5/21/2018 | (5,701,659 | ) | — | ||||||||
SPDR Bloomberg Barclays High Yield Bond ETF | Bank of America Merrill Lynch | 0.50 | 6/29/2018 – 10/31/2018 | (633,534 | ) | — | ||||||||
SPDR Dow Jones International Real Estate ETF | Morgan Stanley | (1.10) | 5/21/2018 | (16,201,798 | ) | — | ||||||||
SPDR Dow Jones International Real Estate ETF | Bank of America Merrill Lynch | 0.49 | 7/31/2018 – 10/31/2018 | (1,800,186 | ) | — | ||||||||
SPDR Dow Jones REIT ETF | Morgan Stanley | 1.91 | 5/21/2018 | 38,494 | — | |||||||||
SPDR Dow Jones REIT ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 4,236 | — | |||||||||
SPDR S&P Bank ETF | Morgan Stanley | 1.91 | 5/21/2018 | 1,558,486 | — | |||||||||
SPDR S&P Bank ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 173,165 | — | |||||||||
SPDR S&P China ETF | Morgan Stanley | 1.91 | 5/21/2018 | 1,188,419 | — | |||||||||
SPDR S&P Emerging Markets SmallCap ETF | Morgan Stanley | 1.91 | 5/21/2018 | 5,064,526 | — | |||||||||
SPDR S&P Emerging Markets SmallCap ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 562,720 | — | |||||||||
SPDR S&P International Small Cap ETF | Morgan Stanley | (3.10) | 5/21/2018 | (140,604 | ) | — | ||||||||
SPDR S&P International Small Cap ETF | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (15,630 | ) | — | ||||||||
Technology Select Sector SPDR Fund | Morgan Stanley | 0.25 | 5/21/2018 | (3,516,809 | ) | — | ||||||||
VanEck Vectors High-Yield Municipal Index ETF | Morgan Stanley | 1.91 | 5/21/2018 | 1,064,301 | — | |||||||||
VanEck Vectors High-Yield Municipal Index ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 118,256 | — | |||||||||
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | Morgan Stanley | 1.91 | 5/21/2018 | 2,528,198 | — | |||||||||
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 280,909 | — | |||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | Morgan Stanley | (3.60) | 5/21/2018 | (582,672 | ) | — | ||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (64,765 | ) | — | ||||||||
Vanguard FTSE Developed Markets ETF | Morgan Stanley | 1.91 | 5/21/2018 | 142,081 | — | |||||||||
Vanguard FTSE Developed Markets ETF | Bank of America Merrill Lynch | 1.50 | 9/28/2018 – 10/31/2018 | 15,787 | — | |||||||||
Vanguard FTSE Emerging Markets ETF | Morgan Stanley | (0.11) | 5/21/2018 | (401,988 | ) | — | ||||||||
Vanguard FTSE Emerging Markets ETF | Bank of America Merrill Lynch | 0.50 | 9/28/2018 – 10/31/2018 | (44,656 | ) | — | ||||||||
Vanguard FTSE Europe ETF | Morgan Stanley | 0.15 | 5/21/2018 | (7,615,379 | ) | — | ||||||||
Vanguard FTSE Europe ETF | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (846,135 | ) | — | ||||||||
Vanguard FTSE Pacific ETF | Morgan Stanley | 1.91 | 5/21/2018 | 800,571 | — | |||||||||
Vanguard FTSE Pacific ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 88,945 | — | |||||||||
Vanguard Growth ETF | Morgan Stanley | (0.60) | 5/21/2018 | (9,772,857 | ) | — | ||||||||
Vanguard Growth ETF | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (1,085,900 | ) | — | ||||||||
Vanguard Mortgage-Backed Securities ETF | Morgan Stanley | 1.91 | 5/21/2018 | 2,693,834 | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
April 30, 2017
Total Return Benchmark | Counterparties | Annual Financing Rate Received (Paid)% | Expiration Date | Notional Amount Long (Short) | Unrealized Appreciation (Depreciation)(f) | |||||||||
Vanguard Mortgage-Backed Securities ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | $ | 299,292 | $ | — | |||||||
Vanguard REIT ETF | Morgan Stanley | 1.91 | 5/21/2018 | 419,497 | — | |||||||||
Vanguard REIT ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 46,611 | — | |||||||||
Vanguard Short-Term Bond ETF | Morgan Stanley | 1.91 | 5/21/2018 | 10,816,282 | — | |||||||||
Vanguard Short-Term Bond ETF | Bank of America Merrill Lynch | 1.50 | 5/31/2018 – 10/31/2018 | 1,201,818 | — | |||||||||
Vanguard Short-Term Corporate Bond ETF | Morgan Stanley | 1.91 | 5/21/2018 | 23,442,694 | — | |||||||||
Vanguard Short-Term Inflation-Protected Securities ETF | Morgan Stanley | 1.91 | 5/21/2018 | 6,517,592 | — | |||||||||
Vanguard Short-Term Inflation-Protected Securities ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 724,194 | — | |||||||||
Vanguard Small-Cap ETF | Morgan Stanley | (0.60) | 5/21/2018 | (4,679,295 | ) | — | ||||||||
Vanguard Small-Cap ETF | Bank of America Merrill Lynch | 0.49 | 10/31/2018 | (519,936 | ) | — | ||||||||
Vanguard Small-Cap Growth ETF | Morgan Stanley | 1.91 | 5/21/2018 | 1,074,483 | — | |||||||||
Vanguard Small-Cap Growth ETF | Bank of America Merrill Lynch | 1.50 | 8/31/2018 – 10/31/2018 | 119,339 | — | |||||||||
Vanguard Small-Cap Value ETF | Morgan Stanley | 1.91 | 5/21/2018 | 176,637 | — | |||||||||
Vanguard Small-Cap Value ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 19,613 | — | |||||||||
Vanguard Total Stock Market ETF | Morgan Stanley | 1.91 | 5/21/2018 | 9,015,881 | — | |||||||||
Vanguard Total Stock Market ETF | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 1,001,724 | — | |||||||||
Vanguard Value ETF | Morgan Stanley | 1.91 | 5/21/2018 | 1,019,566 | — | |||||||||
Vanguard Value ETF | Bank of America Merrill Lynch | 1.50 | 7/31/2018 – 10/31/2018 | 113,264 | — | |||||||||
WisdomTree Emerging Markets Local Debt Fund | Morgan Stanley | 1.91 | 5/21/2018 | 205,964 | — | |||||||||
WisdomTree Emerging Markets Local Debt Fund | Bank of America Merrill Lynch | 1.49 | 10/31/2018 | 22,877 | — | |||||||||
$ | — |
(e) | Reflects a reset date of April 30, 2017. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
April 30, 2017
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(g) | ||||||||||||||||||
Exchange Traded Notes | $ | 330,759 | $ | — | $ | — | $ | 330,759 | ||||||||||
Investment Companies | 1,064,693,446 | — | — | 1,064,693,446 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 775,658 | — | — | 775,658 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 200,211,821 | — | — | 200,211,821 | ||||||||||||||
Total Investments in Securities | $ | 1,266,011,684 | $ | — | $ | — | $ | 1,266,011,684 | ||||||||||
Other Financial Instruments:(h) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 1,266,011,684 | $ | — | $ | — | $ | 1,266,011,684 | ||||||||||
Liability Valuation Inputs | ||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(g) | ||||||||||||||||||
Swap Contracts | $ | — | $ | — | $ | — | $ | — | ||||||||||
Total Other Financial Instruments | $ | — | $ | — | $ | — | $ | — |
(g) | For a complete listing of investments and their industries, see the Schedules of Investments. |
(h) | Reflects the unrealized appreciation (depreciation) of the instruments. |
See notes to financial statements.
Shares | Value | |||||||||
Exchange Traded Note — 0.1% | ||||||||||
Broad Fund — 0.1% | ||||||||||
iPath Bloomberg Commodity Index Total Return ETN* (Cost $4,579) | 194 | $ | 4,478 | |||||||
Investment Companies — 100.2% | ||||||||||
BRIC Equity Funds — 8.8% | ||||||||||
iShares China Large-Cap ETF(a) | 7,318 | 281,962 | ||||||||
iShares MSCI China ETF | 3,986 | 203,924 | ||||||||
SPDR S&P China ETF | 910 | 76,240 | ||||||||
Total BRIC Equity Funds | 562,126 | |||||||||
Broad Fund — 0.2% | ||||||||||
PowerShares DB Commodity Index Tracking Fund* | 744 | 11,011 | ||||||||
Emerging Small Cap Equity Fund — 6.3% | ||||||||||
SPDR S&P Emerging Markets SmallCap ETF(a) | 8,689 | 401,171 | ||||||||
Euro Fund — 0.2% | ||||||||||
CurrencyShares Euro Trust*(a) | 139 | 14,667 | ||||||||
Europe Equity Fund — 4.2% | ||||||||||
Deutsche X-trackers MSCI Europe Hedged Equity ETF(a) | 9,714 | 267,232 | ||||||||
Gold Fund — 0.1% | ||||||||||
PowerShares DB Gold Fund* | 182 | 7,393 | ||||||||
International Bond Funds — 11.4% | ||||||||||
iShares JP Morgan USD Emerging Markets Bond ETF | 3,284 | 378,317 | ||||||||
PowerShares Emerging Markets Sovereign Debt Portfolio | 5,242 | 154,534 | ||||||||
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 9,654 | 180,240 | ||||||||
WisdomTree Emerging Markets Local Debt Fund | 389 | 14,685 | ||||||||
Total International Bond Funds | 727,776 | |||||||||
International Small Cap Equity Funds — 3.9% | ||||||||||
iShares MSCI EAFE Small-Cap ETF(a) | 2,830 | 159,669 | ||||||||
SPDR S&P International Small Cap ETF(a) | 517 | 16,627 | ||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF(a) | 653 | 68,878 | ||||||||
Total International Small Cap Equity Funds | 245,174 | |||||||||
Investment Grade Corporate Bond Funds — 5.2% | ||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF(b) | 2,719 | 323,534 | ||||||||
iShares U.S. Credit Bond ETF | 73 | 8,082 | ||||||||
Total Investment Grade Corporate Bond Funds | 331,616 | |||||||||
Japan Equity Fund — 3.2% | ||||||||||
Deutsche X-trackers MSCI Japan Hedged Equity ETF | 5,296 | 200,136 | ||||||||
Silver Fund — 0.2% | ||||||||||
iShares Silver Trust* | 910 | 14,833 | ||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
Treasury Inflation-Protected Securities Funds — 4.1% | ||||||||||
iShares 0-5 Year TIPS Bond ETF | 549 | $ | 55,597 | |||||||
PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fund(a) | 989 | 52,041 | ||||||||
Vanguard Short-Term Inflation-Protected Securities ETF(a) | 3,131 | 154,860 | ||||||||
Total Treasury Inflation-Protected Securities Funds | 262,498 | |||||||||
U.S. Dollar Fund — 2.0% | ||||||||||
PowerShares DB U.S. Dollar Index Bullish Fund* | 5,065 | 129,512 | ||||||||
U.S. Large Cap Core Funds — 1.9% | ||||||||||
Energy Select Sector SPDR Fund(a) | 534 | 36,226 | ||||||||
Materials Select Sector SPDR Fund(a) | 1,526 | 80,985 | ||||||||
Total U.S. Large Cap Core Funds | 117,211 | |||||||||
U.S. Medium Term Treasury Bond Fund — 4.2% | ||||||||||
iShares 3-7 Year Treasury Bond ETF | 2,136 | 264,266 | ||||||||
U.S. Multi Cap Funds — 11.2% | ||||||||||
Schwab U.S. Broad Market ETF | 1,255 | 72,326 | ||||||||
Vanguard Total Stock Market ETF | 5,242 | 642,721 | ||||||||
Total U.S. Multi Cap Funds | 715,047 | |||||||||
U.S. Short Term Treasury Bond Funds — 33.1% | ||||||||||
iShares Short Treasury Bond ETF | 3,245 | 357,891 | ||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | 3,044 | 139,202 | ||||||||
Vanguard Short-Term Bond ETF(a)(b) | 20,142 | 1,610,152 | ||||||||
Total U.S. Short Term Treasury Bond Funds | 2,107,245 | |||||||||
Total Investment Companies (Cost $6,408,853) | 6,378,914 | |||||||||
Investment of Cash Collateral For Securities Loaned — 20.2% | ||||||||||
Money Market Fund — 20.2% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(c) (Cost $1,287,677) | 1,287,677 | 1,287,677 | ||||||||
Total Investments — 120.5% (Cost $7,701,109) | 7,671,069 | |||||||||
Other Assets and Liabilities, Net — (20.5)% | (1,306,123 | ) | ||||||||
Net Assets — 100.0% | $ | 6,364,946 |
* | Non-income producing securities. |
(a) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $1,261,359; total market value of collateral held by the Fund was $1,289,211. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $1,534. |
(b) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $1,603,213. |
(c) | Reflects the 1-day yield at April 30, 2017. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Macro Tracker ETF (continued)
April 30, 2017
Total Return Benchmark | Annual Financing Rate (Received) Paid % | Expiration Date | Notional Amount Long (Short) | Unrealized Appreciation (Depreciation)(d) | ||||||||||||||
CurrencyShares Euro Trust | 1.91 | 5/21/2018 | $ | 3,060 | $ | — | ||||||||||||
CurrencyShares Japanese Yen Trust | (1.32 | ) | 4/09/2018 | (30,237 | ) | — | ||||||||||||
Deutsche X-trackers MSCI Europe Hedged Equity ETF | 1.91 | 5/21/2018 | 54,717 | — | ||||||||||||||
Deutsche X-trackers MSCI Japan Hedged Equity ETF | 1.91 | 5/21/2018 | 40,964 | — | ||||||||||||||
Energy Select Sector SPDR Fund | 1.91 | 5/21/2018 | 7,395 | — | ||||||||||||||
iPath Bloomberg Commodity Index Total Return ETN | 1.91 | 5/21/2018 | 923 | — | ||||||||||||||
iShares 0-5 Year TIPS Bond ETF | 1.91 | 5/21/2018 | 11,342 | — | ||||||||||||||
iShares 3-7 Year Treasury Bond ETF | 1.91 | 5/21/2018 | 54,066 | — | ||||||||||||||
iShares China Large-Cap ETF | 1.67 | 5/21/2018 | 57,718 | — | ||||||||||||||
iShares Core MSCI Emerging Markets ETF | (0.10 | ) | 4/09/2018 | (83,374 | ) | — | ||||||||||||
iShares Edge MSCI Min Vol Emerging Markets ETF | (0.90 | ) | 4/09/2018 | (292,461 | ) | — | ||||||||||||
iShares Europe ETF | (3.25 | ) | 4/09/2018 | (7,976 | ) | — | ||||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | 1.91 | 5/21/2018 | 66,277 | — | ||||||||||||||
iShares JP Morgan USD Emerging Markets Bond ETF | 1.91 | 5/21/2018 | 77,414 | — | ||||||||||||||
iShares MSCI China ETF | 1.77 | 5/21/2018 | 41,747 | — | ||||||||||||||
iShares MSCI EAFE Small-Cap ETF | 1.91 | 5/21/2018 | 32,724 | — | ||||||||||||||
iShares MSCI Eurozone ETF | 0.15 | 4/09/2018 | (29,312 | ) | — | |||||||||||||
iShares MSCI Japan ETF | 0.41 | 4/09/2018 | (79,709 | ) | — | |||||||||||||
iShares Russell 1000 Growth ETF | (0.38 | ) | 4/09/2018 | (36,411 | ) | — | ||||||||||||
iShares Russell 1000 Value ETF | (0.10 | ) | 4/09/2018 | (16,290 | ) | — | ||||||||||||
iShares Russell 2000 ETF | (0.10 | ) | 4/09/2018 | (149,629 | ) | — | ||||||||||||
iShares S&P 500 Growth ETF | (1.26 | ) | 4/09/2018 | (17,434 | ) | — | ||||||||||||
iShares S&P 500 Value ETF | (1.60 | ) | 4/09/2018 | (6,132 | ) | — | ||||||||||||
iShares Short Treasury Bond ETF | 1.83 | 5/21/2018 | 73,343 | — | ||||||||||||||
iShares Silver Trust | 1.91 | 5/21/2018 | 3,032 | — | ||||||||||||||
iShares U.S. Credit Bond ETF | 1.91 | 5/21/2018 | 1,661 | — | ||||||||||||||
Materials Select Sector SPDR Fund | 1.91 | 5/21/2018 | 16,611 | — | ||||||||||||||
PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fund | 1.91 | 5/21/2018 | 10,682 | — | ||||||||||||||
PowerShares DB Commodity Index Tracking Fund | 1.91 | 5/21/2018 | 2,250 | — | ||||||||||||||
PowerShares DB Gold Fund | 1.91 | 5/21/2018 | 1,503 | — | ||||||||||||||
PowerShares DB U.S. Dollar Index Bullish Fund | 1.91 | 5/21/2018 | 26,516 | — | ||||||||||||||
PowerShares Emerging Markets Sovereign Debt Portfolio | 1.91 | 5/21/2018 | 31,662 | — | ||||||||||||||
Schwab U.S. Broad Market ETF | 1.91 | 5/21/2018 | 14,811 | — | ||||||||||||||
Schwab U.S. Small-Cap ETF | 0.41 | 4/09/2018 | (20,253 | ) | — | |||||||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | 1.91 | 5/21/2018 | 28,490 | — | ||||||||||||||
SPDR Dow Jones International Real Estate ETF | (1.75 | ) | 4/09/2018 | (242,481 | ) | — | ||||||||||||
SPDR S&P China ETF | 1.74 | 5/21/2018 | 15,583 | — | ||||||||||||||
SPDR S&P Emerging Markets SmallCap ETF | 1.66 | 5/21/2018 | 82,136 | — | ||||||||||||||
SPDR S&P International Small Cap ETF | 1.67 | 5/21/2018 | 3,409 | — | ||||||||||||||
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 1.72 | 5/21/2018 | 36,911 | — | ||||||||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | 1.91 | 5/21/2018 | 14,134 | — | ||||||||||||||
Vanguard FTSE Emerging Markets ETF | 0.30 | 4/09/2018 | (158,133 | ) | — | |||||||||||||
Vanguard FTSE Europe ETF | 0.15 | 4/09/2018 | (36,863 | ) | — | |||||||||||||
Vanguard Growth ETF | (0.51 | ) | 4/09/2018 | (27,126 | ) | — | ||||||||||||
Vanguard Short-Term Bond ETF | 1.83 | 5/21/2018 | 329,753 | — | ||||||||||||||
Vanguard Short-Term Inflation-Protected Securities ETF | 1.91 | 5/21/2018 | 31,704 | — | ||||||||||||||
Vanguard Small-Cap ETF | (0.60 | ) | 4/09/2018 | (70,033 | ) | — | ||||||||||||
Vanguard Total Stock Market ETF | 1.91 | 5/21/2018 | 131,561 | — | ||||||||||||||
Vanguard Value ETF | (0.73 | ) | 4/09/2018 | (13,443 | ) | — | ||||||||||||
WisdomTree Emerging Markets Local Debt Fund | 1.59 | 5/21/2018 | 3,020 | — | ||||||||||||||
$ | — |
(d) | Reflects a reset date of April 30, 2017. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Macro Tracker ETF (continued)
April 30, 2017
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(e) | ||||||||||||||||||
Exchange Traded Notes | $ | 4,478 | $ | — | $ | — | $ | 4,478 | ||||||||||
Investment Companies | 6,378,914 | — | — | 6,378,914 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 1,287,677 | — | — | 1,287,677 | ||||||||||||||
Total Investments in Securities | 7,671,069 | — | — | 7,671,069 | ||||||||||||||
Other Financial Instruments:(f) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 7,671,069 | $ | — | $ | — | $ | 7,671,069 | ||||||||||
Liability Valuation Inputs | ||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(f) | ||||||||||||||||||
Swap Contracts | $ | — | $ | — | $ | — | $ | — | ||||||||||
Total Other Financial Instruments | $ | — | $ | — | $ | — | $ | — |
(e) | For a complete listing of investments and their industries, see the Schedules of Investments. |
(f) | Reflects the unrealized appreciation (depreciation) of the instruments. |
See notes to financial statements.
Shares | Value | |||||||||
Investment Companies — 100.0% | ||||||||||
British Pound Fund — 2.2% | ||||||||||
CurrencyShares British Pound Sterling Trust* | 2,000 | $ | 252,380 | |||||||
Euro Fund — 2.5% | ||||||||||
CurrencyShares Euro Trust*(a) | 2,653 | 279,944 | ||||||||
Europe Equity Funds — 0.1% | ||||||||||
iShares Europe ETF | 21 | 910 | ||||||||
iShares MSCI Eurozone ETF(a) | 85 | 3,336 | ||||||||
Vanguard FTSE Europe ETF(a) | 78 | 4,179 | ||||||||
Total Europe Equity Funds | 8,425 | |||||||||
Floating Rate Funds — 33.7% | ||||||||||
iShares Floating Rate Bond ETF(a) | 30,347 | 1,543,448 | ||||||||
PowerShares Senior Loan Portfolio | 84,520 | 1,967,626 | ||||||||
SPDR Blackstone / GSO Senior Loan ETF | 6,813 | 323,822 | ||||||||
Total Floating Rate Funds | 3,834,896 | |||||||||
Investment Grade Corporate Bond Funds — 8.9% | ||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | 8,279 | 985,118 | ||||||||
iShares U.S. Credit Bond ETF | 223 | 24,691 | ||||||||
Total Investment Grade Corporate Bond Funds | 1,009,809 | |||||||||
Japan Equity Fund — 2.3% | ||||||||||
iShares MSCI Japan ETF(a) | 5,044 | 261,582 | ||||||||
Mortgage Backed Securities Funds — 13.6% | ||||||||||
iShares MBS ETF(a) | 10,651 | 1,139,551 | ||||||||
Vanguard Mortgage-Backed Securities ETF | 7,785 | 410,425 | ||||||||
Total Mortgage Backed Securities Funds | 1,549,976 | |||||||||
Municipal Bond Fund — 1.4% | ||||||||||
VanEck Vectors High-Yield Municipal Index ETF | 5,289 | 162,161 | ||||||||
U.S. Large Cap Core Funds — 2.6% | ||||||||||
PowerShares KBW Bank Portfolio | 1,252 | 58,944 | ||||||||
SPDR S&P Bank ETF | 5,571 | 237,436 | ||||||||
Total U.S. Large Cap Core Funds | 296,380 | |||||||||
U.S. Large Cap Growth Funds — 6.3% | ||||||||||
Guggenheim S&P 500 Pure Growth ETF | 189 | 17,278 | ||||||||
iShares Russell 1000 Growth ETF | 2,690 | 312,928 | ||||||||
iShares S&P 500 Growth ETF | 1,120 | 150,203 | ||||||||
Vanguard Growth ETF | 1,874 | 233,182 | ||||||||
Total U.S. Large Cap Growth Funds | 713,591 | |||||||||
U.S. Preferred Fund — 5.0% | ||||||||||
iShares U.S. Preferred Stock ETF | 14,430 | 562,914 | ||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Short Term Treasury Bond Funds — 21.0% | ||||||||||
iShares Short Treasury Bond ETF(b) | 3,680 | $ | 405,867 | |||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF(a) | 3,452 | 157,860 | ||||||||
Vanguard Short-Term Bond ETF(b) | 22,840 | 1,825,830 | ||||||||
Total U.S. Short Term Treasury Bond Funds | 2,389,557 | |||||||||
U.S. Small Cap Growth Funds — 0.2% | ||||||||||
iShares Russell 2000 Growth ETF(a) | 44 | 7,247 | ||||||||
iShares S&P Small-Cap 600 Growth ETF | 27 | 4,185 | ||||||||
Vanguard Small-Cap Growth ETF(a) | 40 | 5,703 | ||||||||
Total U.S. Small Cap Growth Funds | 17,135 | |||||||||
U.S. Small Cap Value Funds — 0.2% | ||||||||||
iShares Russell 2000 Value ETF | 81 | 9,606 | ||||||||
iShares S&P Small-Cap 600 Value ETF(a) | 38 | 5,296 | ||||||||
Vanguard Small-Cap Value ETF(a) | 99 | 12,212 | ||||||||
Total U.S. Small Cap Value Funds | 27,114 | |||||||||
Total Investment Companies (Cost $11,226,416) | 11,365,864 | |||||||||
Short-Term Investment — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 0.61%(c) (Cost $12,601) | 12,601 | 12,601 | ||||||||
Investment of Cash Collateral For Securities Loaned — 19.9% | ||||||||||
Money Market Fund — 19.9% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(d) (Cost $2,259,107) | 2,259,107 | 2,259,107 | ||||||||
Total Investments — 120.0% (Cost $13,498,124) | 13,637,572 | |||||||||
Other Assets and Liabilities, Net — (20.0)% | (2,273,461 | ) | ||||||||
Net Assets — 100.0% | $ | 11,364,111 |
* | Non-income producing securities. |
(a) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $2,209,699; total market value of collateral held by the Fund was $2,259,107. |
(b) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $2,231,697. |
(c) | Reflects the 7-day yield at April 30, 2017. |
(d) | Reflects the 1-day yield at April 30, 2017. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Market Neutral Tracker ETF (continued)
April 30, 2017
Total Return Benchmark | Annual Financing Rate (Received) Paid % | Expiration Date | Notional Amount Long (Short) | Unrealized Appreciation (Depreciation)(e) | ||||||||||||||
CurrencyShares Australian Dollar Trust | (2.35 | ) | 4/09/2018 | $ | (168,765 | ) | $ | — | ||||||||||
CurrencyShares British Pound Sterling Trust | 1.91 | 5/21/2018 | 59,688 | — | ||||||||||||||
CurrencyShares Euro Trust | 1.74 | 5/21/2018 | 66,267 | — | ||||||||||||||
Guggenheim S&P 500 Pure Growth ETF | 1.91 | 5/21/2018 | 4,114 | — | ||||||||||||||
iShares 3-7 Year Treasury Bond ETF | (0.85 | ) | 4/09/2018 | (383,903 | ) | — | ||||||||||||
iShares Core MSCI Emerging Markets ETF | (0.10 | ) | 4/09/2018 | (94,040 | ) | — | ||||||||||||
iShares Edge MSCI Min Vol USA ETF | (1.26 | ) | 4/09/2018 | (312,212 | ) | — | ||||||||||||
iShares Europe ETF | 1.91 | 5/21/2018 | 217 | — | ||||||||||||||
iShares Floating Rate Bond ETF | 1.91 | 5/21/2018 | 365,175 | — | ||||||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF | (1.35 | ) | 4/09/2018 | (237,395 | ) | — | ||||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | 1.87 | 5/21/2018 | 233,101 | — | ||||||||||||||
iShares MBS ETF | 1.91 | 5/21/2018 | 269,615 | — | ||||||||||||||
iShares MSCI All Country Asia ex Japan ETF | (2.87 | ) | 4/09/2018 | (86,041 | ) | — | ||||||||||||
iShares MSCI Eurozone ETF | 1.91 | 5/21/2018 | 785 | — | ||||||||||||||
iShares MSCI Japan ETF | 1.91 | 5/21/2018 | 61,869 | — | ||||||||||||||
iShares MSCI Pacific ex Japan ETF | (3.75 | ) | 4/09/2018 | (80,049 | ) | — | ||||||||||||
iShares Russell 1000 Growth ETF | 1.91 | 5/21/2018 | 74,102 | — | ||||||||||||||
iShares Russell 1000 Value ETF | (0.25 | ) | 4/09/2018 | (164,164 | ) | — | ||||||||||||
iShares Russell 2000 Growth ETF | 1.91 | 5/21/2018 | 1,812 | — | ||||||||||||||
iShares Russell 2000 Value ETF | 1.91 | 5/21/2018 | 2,253 | — | ||||||||||||||
iShares S&P 500 Growth ETF | 1.91 | 5/21/2018 | 35,539 | — | ||||||||||||||
iShares S&P 500 Value ETF | (1.35 | ) | 4/09/2018 | (61,325 | ) | — | ||||||||||||
iShares S&P Small-Cap 600 Growth ETF | 1.91 | 5/21/2018 | 930 | — | ||||||||||||||
iShares S&P Small-Cap 600 Value ETF | 1.91 | 5/21/2018 | 1,254 | — | ||||||||||||||
iShares Short Treasury Bond ETF | 1.76 | 5/21/2018 | 96,063 | — | ||||||||||||||
iShares U.S. Credit Bond ETF | 1.82 | 5/21/2018 | 5,868 | — | ||||||||||||||
iShares U.S. Preferred Stock ETF | 1.91 | 5/21/2018 | 133,180 | — | ||||||||||||||
PowerShares DB U.S. Dollar Index Bullish Fund | (2.57 | ) | 4/09/2018 | (182,417 | ) | — | ||||||||||||
PowerShares KBW Bank Portfolio | 1.91 | 5/21/2018 | 13,936 | — | ||||||||||||||
PowerShares S&P 500 Low Volatility Portfolio | (0.76 | ) | 4/09/2018 | (163,260 | ) | — | ||||||||||||
PowerShares Senior Loan Portfolio | 1.84 | 5/21/2018 | 465,507 | — | ||||||||||||||
SPDR Blackstone / GSO Senior Loan ETF | 1.86 | 5/21/2018 | 76,618 | — | ||||||||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | 1.71 | 5/21/2018 | 37,361 | — | ||||||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF | 0.41 | 4/09/2018 | (190,066 | ) | — | |||||||||||||
SPDR Bloomberg Barclays High Yield Bond ETF | (1.35 | ) | 4/09/2018 | (146,109 | ) | — | ||||||||||||
SPDR S&P Bank ETF | 1.91 | 5/21/2018 | 56,173 | — | ||||||||||||||
VanEck Vectors High-Yield Municipal Index ETF | 1.91 | 5/21/2018 | 38,356 | — | ||||||||||||||
Vanguard FTSE Emerging Markets ETF | (0.10 | ) | 4/09/2018 | (178,343 | ) | — | ||||||||||||
Vanguard FTSE Europe ETF | 1.91 | 5/21/2018 | 964 | — | ||||||||||||||
Vanguard FTSE Pacific ETF | (0.63 | ) | 4/09/2018 | (106,352 | ) | — | ||||||||||||
Vanguard Growth ETF | 1.91 | 5/21/2018 | 55,122 | — | ||||||||||||||
Vanguard Mortgage-Backed Securities ETF | 1.91 | 5/21/2018 | 97,110 | — | ||||||||||||||
Vanguard Short-Term Bond ETF | 1.76 | 5/21/2018 | 431,996 | — | ||||||||||||||
Vanguard Small-Cap Growth ETF | 1.91 | 5/21/2018 | 1,426 | — | ||||||||||||||
Vanguard Small-Cap Value ETF | 1.91 | 5/21/2018 | 2,837 | — | ||||||||||||||
Vanguard Value ETF | (0.73 | ) | 4/09/2018 | (135,478 | ) | — | ||||||||||||
$ | — |
(e) | Reflects a reset date of April 30, 2017. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Market Neutral Tracker ETF (continued)
April 30, 2017
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(f) | ||||||||||||||||||
Investment Companies | $ | 11,365,864 | $ | — | $ | — | $ | 11,365,864 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 12,601 | — | — | 12,601 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 2,259,107 | — | — | 2,259,107 | ||||||||||||||
Total Investments in Securities | 13,637,572 | — | — | 13,637,572 | ||||||||||||||
Other Financial Instruments:(g) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 13,637,572 | $ | — | $ | — | $ | 13,637,572 | ||||||||||
Liability Valuation Inputs | ||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(g) | ||||||||||||||||||
Swap Contracts | $ | — | $ | — | $ | — | $ | — | ||||||||||
Total Other Financial Instruments | $ | — | $ | — | $ | — | $ | — |
(f) | For a complete listing of investments and their industries, see the Schedules of Investments. |
(g) | Reflects the unrealized appreciation (depreciation) of the instruments. |
See notes to financial statements.
Shares | Value | |||||||||
Exchange Traded Note — 1.2% | ||||||||||
Volatility Fund — 1.2% | ||||||||||
iPATH S&P 500 VIX Short-Term Futures ETN*(a) (Cost $58,137) | 3,275 | $ | 49,158 | |||||||
Investment Companies — 98.7% | ||||||||||
Floating Rate Funds — 8.1% | ||||||||||
PowerShares Senior Loan Portfolio(b) | 12,118 | 282,107 | ||||||||
SPDR Blackstone / GSO Senior Loan ETF | 976 | 46,389 | ||||||||
Total Floating Rate Funds | 328,496 | |||||||||
International Equity Core Fund — 14.0% | ||||||||||
Deutsche X-trackers MSCI EAFE Hedged Equity ETF(a) | 18,985 | 569,740 | ||||||||
International Small Cap Equity Funds — 11.8% | ||||||||||
iShares MSCI EAFE Small-Cap ETF | 5,563 | 313,864 | ||||||||
SPDR S&P International Small Cap ETF | 1,016 | 32,675 | ||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | 1,284 | 135,436 | ||||||||
Total International Small Cap Equity Funds | 481,975 | |||||||||
Investment Grade Corporate Bond Funds — 14.0% | ||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF(b) | 4,670 | 555,683 | ||||||||
iShares U.S. Credit Bond ETF | 127 | 14,062 | ||||||||
Total Investment Grade Corporate Bond Funds | 569,745 | |||||||||
U.S. Large Cap Core Funds — 16.3% | ||||||||||
Financial Select Sector SPDR Fund | 17,529 | 412,458 | ||||||||
Health Care Select Sector SPDR Fund | 1,492 | 112,646 | ||||||||
Technology Select Sector SPDR Fund(b) | 2,587 | 140,681 | ||||||||
Total U.S. Large Cap Core Funds | 665,785 | |||||||||
U.S. Large Cap Growth Funds — 11.4% | ||||||||||
Guggenheim S&P 500 Pure Growth ETF | 123 | 11,245 | ||||||||
iShares Russell 1000 Growth ETF | 1,747 | 203,228 | ||||||||
iShares S&P 500 Growth ETF | 727 | 97,498 | ||||||||
Vanguard Growth ETF | 1,216 | 151,307 | ||||||||
Total U.S. Large Cap Growth Funds | 463,278 | |||||||||
U.S. Preferred Fund — 16.3% | ||||||||||
iShares U.S. Preferred Stock ETF | 16,969 | 661,961 | ||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Short Term Treasury Bond Funds — 0.7% | ||||||||||
iShares Short Treasury Bond ETF | 43 | $ | 4,743 | |||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | 40 | 1,829 | ||||||||
Vanguard Short-Term Bond ETF | 260 | 20,784 | ||||||||
Total U.S. Short Term Treasury Bond Funds | 27,356 | |||||||||
U.S. Small Cap Growth Funds — 6.1% | ||||||||||
iShares Russell 2000 Growth ETF | 644 | 106,073 | ||||||||
iShares S&P Small-Cap 600 Growth ETF | 391 | 60,605 | ||||||||
Vanguard Small-Cap Growth ETF(a) | 583 | 83,124 | ||||||||
Total U.S. Small Cap Growth Funds | 249,802 | |||||||||
Total Investment Companies (Cost $3,959,912) | 4,018,138 | |||||||||
Short-Term Investment — 0.0%(c) | ||||||||||
Money Market Fund — 0.0%(c) | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 0.61%(d) (Cost $266) | 266 | 266 | ||||||||
Investment of Cash Collateral For Securities Loaned — 7.7% | ||||||||||
Money Market Fund — 7.7% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(e) (Cost $315,173) | 315,173 | 315,173 | ||||||||
Total Investments — 107.6% (Cost $4,333,488) | 4,382,735 | |||||||||
Other Assets and Liabilities, Net — (7.6)% | (310,389 | ) | ||||||||
Net Assets — 100.0% | $ | 4,072,346 |
* | Non-income producing securities. |
(a) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $306,108; total market value of collateral held by the Fund was $315,173. |
(b) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $394,936. |
(c) | Less than 0.05%. |
(d) | Reflects the 7-day yield at April 30, 2017. |
(e) | Reflects the 1-day yield at April 30, 2017. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Long/Short Tracker ETF (continued)
April 30, 2017
Total Return Benchmark | Annual Financing Rate (Received) Paid % | Expiration Date | Notional Amount Long (Short) | Unrealized Appreciation (Depreciation)(f) | ||||||||||||||
Deutsche X-trackers MSCI EAFE Hedged Equity ETF | 1.91 | 3/28/2019 | $ | 94,231 | $ | — | ||||||||||||
Energy Select Sector SPDR Fund | 0.34 | 3/28/2019 | (117,228 | ) | — | |||||||||||||
Financial Select Sector SPDR Fund | 1.91 | 3/28/2019 | 68,190 | — | ||||||||||||||
Guggenheim S&P 500 Pure Growth ETF | 1.91 | 3/28/2019 | 1,828 | — | ||||||||||||||
Health Care Select Sector SPDR Fund | 1.91 | 3/28/2019 | 18,649 | — | ||||||||||||||
iPATH S&P 500 VIX Short-Term Futures ETN | 1.91 | 3/28/2019 | 8,136 | — | ||||||||||||||
iShares Core MSCI EAFE ETF | (0.57 | ) | 3/28/2019 | (19,820 | ) | — | ||||||||||||
iShares Core MSCI Emerging Markets ETF | 0.16 | 3/28/2019 | (42,418 | ) | — | |||||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | 1.91 | 3/28/2019 | 91,860 | — | ||||||||||||||
iShares MSCI EAFE Small-Cap ETF | 1.91 | 3/28/2019 | 51,906 | — | ||||||||||||||
iShares Russell 1000 Growth ETF | 1.91 | 3/28/2019 | 33,619 | — | ||||||||||||||
iShares Russell 1000 Value ETF | 0.16 | 3/28/2019 | (54,836 | ) | — | |||||||||||||
iShares Russell 2000 Growth ETF | 1.91 | 3/28/2019 | 17,459 | — | ||||||||||||||
iShares Russell 2000 Value ETF | (0.43 | ) | 3/28/2019 | (43,052 | ) | — | ||||||||||||
iShares S&P 500 Growth ETF | 1.91 | 3/28/2019 | 16,093 | — | ||||||||||||||
iShares S&P 500 Value ETF | (1.35 | ) | 3/28/2019 | (20,476 | ) | — | ||||||||||||
iShares S&P Small-Cap 600 Growth ETF | 1.91 | 3/28/2019 | 9,920 | — | ||||||||||||||
iShares S&P Small-Cap 600 Value ETF | (1.29 | ) | 3/28/2019 | (23,831 | ) | — | ||||||||||||
iShares Short Treasury Bond ETF | 1.91 | 3/28/2019 | 772 | — | ||||||||||||||
iShares U.S. Credit Bond ETF | 1.91 | 3/28/2019 | 2,325 | — | ||||||||||||||
iShares U.S. Preferred Stock ETF | 1.91 | 3/28/2019 | 109,462 | — | ||||||||||||||
iShares U.S. Real Estate ETF | (0.14 | ) | 3/28/2019 | (13,655 | ) | — | ||||||||||||
PowerShares Senior Loan Portfolio | 1.91 | 3/28/2019 | 46,653 | — | ||||||||||||||
SPDR Blackstone / GSO Senior Loan ETF | 1.91 | 3/28/2019 | 7,700 | — | ||||||||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | 1.91 | 3/28/2019 | 320 | — | ||||||||||||||
SPDR Dow Jones REIT ETF | (1.05 | ) | 3/28/2019 | (9,025 | ) | — | ||||||||||||
SPDR S&P International Small Cap ETF | 1.91 | 3/28/2019 | 5,403 | — | ||||||||||||||
Technology Select Sector SPDR Fund | 1.91 | 3/28/2019 | 23,275 | — | ||||||||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | 1.91 | 3/28/2019 | 22,362 | — | ||||||||||||||
Vanguard FTSE Developed Markets ETF | 0.16 | 3/28/2019 | (44,428 | ) | — | |||||||||||||
Vanguard FTSE Emerging Markets ETF | 0.41 | 3/28/2019 | (80,438 | ) | — | |||||||||||||
Vanguard Growth ETF | 1.91 | 3/28/2019 | 25,011 | — | ||||||||||||||
Vanguard REIT ETF | (0.03 | ) | 3/28/2019 | (98,437 | ) | — | ||||||||||||
Vanguard Short-Term Bond ETF | 1.91 | 3/28/2019 | 3,437 | — | ||||||||||||||
Vanguard Small-Cap Growth ETF | 1.91 | 3/28/2019 | 13,688 | — | ||||||||||||||
Vanguard Small-Cap Value ETF | (1.50 | ) | 3/28/2019 | (54,397 | ) | — | ||||||||||||
Vanguard Value ETF | (0.16 | ) | 3/28/2019 | (45,286 | ) | — | ||||||||||||
$ | — |
(f) | Reflects a reset date of April 30, 2017. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Long/Short Tracker ETF (continued)
April 30, 2017
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(g) | ||||||||||||||||||
Exchange Traded Notes | $ | 49,158 | $ | — | $ | — | $ | 49,158 | ||||||||||
Investment Companies | 4,018,138 | — | — | 4,018,138 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 266 | — | — | 266 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 315,173 | — | — | 315,173 | ||||||||||||||
Total Investments in Securities | 4,382,735 | — | — | 4,382,735 | ||||||||||||||
Other Financial Instruments:(h) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 4,382,735 | $ | — | $ | — | $ | 4,382,735 | ||||||||||
Liability Valuation Inputs | ||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(h) | ||||||||||||||||||
Swap Contracts | $ | — | $ | — | $ | — | $ | — | ||||||||||
Total Other Financial Instruments | $ | — | $ | — | $ | — | $ | — |
(g) | For a complete listing of investments and their industries, see the Schedules of Investments. |
(h) | Reflects the unrealized appreciation (depreciation) of the instruments. |
See notes to financial statements.
Shares | Value | |||||||||
Investment Companies — 99.9% | ||||||||||
Convertible Bonds Fund — 32.0% | ||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF(a) | 20,286 | $ | 989,146 | |||||||
Floating Rate Funds — 23.4% | ||||||||||
PowerShares Senior Loan Portfolio | 26,670 | 620,878 | ||||||||
SPDR Blackstone / GSO Senior Loan ETF | 2,150 | 102,189 | ||||||||
Total Floating Rate Funds | 723,067 | |||||||||
Investment Grade Corporate Bond Fund — 35.7% | ||||||||||
Vanguard Short-Term Corporate Bond ETF | 13,796 | 1,102,576 | ||||||||
U.S. Large Cap Value Funds — 1.3% | ||||||||||
Guggenheim S&P 500 Pure Value ETF | 9 | 530 | ||||||||
iShares Russell 1000 Value ETF | 162 | 18,584 | ||||||||
iShares S&P 500 Value ETF | 67 | 6,964 | ||||||||
Vanguard Value ETF | 161 | 15,350 | ||||||||
Total U.S. Large Cap Value Funds | 41,428 | |||||||||
U.S. Short Term Treasury Bond Funds — 0.1% | ||||||||||
iShares Short Treasury Bond ETF | 4 | 441 | ||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | 3 | 137 | ||||||||
Vanguard Short-Term Bond ETF | 22 | 1,759 | ||||||||
Total U.S. Short Term Treasury Bond Funds | 2,337 | |||||||||
U.S. Small Cap Growth Funds — 7.4% | ||||||||||
iShares Russell 2000 Growth ETF | 589 | 97,014 | ||||||||
iShares S&P Small-Cap 600 Growth ETF | 356 | 55,180 | ||||||||
Vanguard Small-Cap Growth ETF(b) | 532 | 75,853 | ||||||||
Total U.S. Small Cap Growth Funds | 228,047 | |||||||||
Total Investment Companies (Cost $3,053,971) | 3,086,601 | |||||||||
Shares | Value | |||||||||
Short-Term Investment — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 0.61%(c) (Cost $4,075) | 4,075 | $ | 4,075 | |||||||
Investment of Cash Collateral For Securities Loaned — 2.5% | ||||||||||
Money Market Fund — 2.5% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(d) (Cost $76,542) | 76,542 | 76,542 | ||||||||
Total Investments — 102.5% (Cost $3,134,588) | 3,167,218 | |||||||||
Other Assets and Liabilities, Net — (2.5)% | (79,056 | ) | ||||||||
Net Assets — 100.0% | $ | 3,088,162 |
(a) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $321,816. |
(b) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $74,284; total market value of collateral held by the Fund was $76,542. |
(c) | Reflects the 7-day yield at April 30, 2017. |
(d) | Reflects the 1-day yield at April 30, 2017. |
Total Return Benchmark | Annual Financing Rate (Received) Paid % | Expiration Date | Notional Amount Long (Short) | Unrealized Appreciation (Depreciation)(e) | ||||||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF | (1.35 | ) | 3/28/2019 | $ | (19,651 | ) | $ | — | ||||||||||
iShares Russell 1000 Value ETF | 1.91 | 3/28/2019 | 803 | — | ||||||||||||||
iShares Russell 2000 Growth ETF | 1.91 | 3/28/2019 | 3,953 | — | ||||||||||||||
iShares S&P 500 Value ETF | 1.91 | 3/28/2019 | 312 | — | ||||||||||||||
iShares S&P Small-Cap 600 Growth ETF | 1.91 | 3/28/2019 | 2,170 | — | ||||||||||||||
iShares U.S. Preferred Stock ETF | (1.60 | ) | 3/28/2019 | (92,766 | ) | — | ||||||||||||
PowerShares Senior Loan Portfolio | 1.91 | 3/28/2019 | 25,073 | — | ||||||||||||||
SPDR Blackstone / GSO Senior Loan ETF | 1.91 | 3/28/2019 | 4,135 | — | ||||||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF | 1.91 | 3/28/2019 | 39,934 | — | ||||||||||||||
SPDR Bloomberg Barclays High Yield Bond ETF | (1.35 | ) | 3/28/2019 | (12,070 | ) | — | ||||||||||||
Vanguard Short-Term Bond ETF | 1.91 | 3/28/2019 | 80 | — | ||||||||||||||
Vanguard Short-Term Corporate Bond ETF | 1.91 | 3/28/2019 | 44,515 | — | ||||||||||||||
Vanguard Small-Cap Growth ETF | 1.91 | 3/28/2019 | 3,137 | — | ||||||||||||||
Vanguard Value ETF | 1.91 | 3/28/2019 | 572 | — | ||||||||||||||
$ | — |
(e) | Reflects a reset date of April 30, 2017. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Event-Driven Tracker ETF (continued)
April 30, 2017
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(f) | ||||||||||||||||||
Investment Companies | $ | 3,086,601 | $ | — | $ | — | $ | 3,086,601 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 4,075 | — | — | 4,075 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 76,542 | — | — | 76,542 | ||||||||||||||
Total Investments in Securities | 3,167,218 | — | — | 3,167,218 | ||||||||||||||
Other Financial Instruments:(g) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 3,167,218 | $ | — | $ | — | $ | 3,167,218 | ||||||||||
Liability Valuation Inputs | ||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(g) | ||||||||||||||||||
Swap Contracts | $ | — | $ | — | $ | — | $ | — | ||||||||||
Total Other Financial Instruments | $ | — | $ | — | $ | — | $ | — |
(f) | For a complete listing of investments and their industries, see the Schedules of Investments. |
(g) | Reflects the unrealized appreciation (depreciation) of the instruments. |
See notes to financial statements.
Shares | Value | |||||||||
Common Stocks — 90.2% | ||||||||||
Australia — 6.8% | ||||||||||
BHP Billiton Ltd. | 347,936 | $ | 6,172,035 | |||||||
Evolution Mining Ltd. | 344,045 | 589,203 | ||||||||
Fortescue Metals Group Ltd. | 206,414 | 819,687 | ||||||||
Newcrest Mining Ltd. | 156,253 | 2,472,626 | ||||||||
Northern Star Resources Ltd. | 126,383 | 404,526 | ||||||||
OceanaGold Corp. | 133,301 | 433,840 | ||||||||
South32 Ltd. | 354,336 | 736,672 | ||||||||
Washington H Soul Pattinson & Co., Ltd.(a) | 21,323 | 300,430 | ||||||||
Whitehaven Coal Ltd.* | 93,202 | 190,981 | ||||||||
Woodside Petroleum Ltd. | 1,527 | 36,749 | ||||||||
Total Australia | 12,156,749 | |||||||||
Canada — 13.5% | ||||||||||
Agnico Eagle Mines Ltd. | 48,490 | 2,314,030 | ||||||||
Alamos Gold, Inc., Class A | 57,331 | 409,657 | ||||||||
B2Gold Corp.* | 206,183 | 517,229 | ||||||||
Barrick Gold Corp. | 256,611 | 4,282,793 | ||||||||
Canadian Natural Resources Ltd. | 1,943 | 61,787 | ||||||||
Detour Gold Corp.* | 36,509 | 460,601 | ||||||||
Eldorado Gold Corp. | 153,464 | 560,071 | ||||||||
Enbridge, Inc. | 2,823 | 116,818 | ||||||||
First Quantum Minerals Ltd. | 46,303 | 440,578 | ||||||||
Goldcorp, Inc. | 179,156 | 2,492,172 | ||||||||
Hudbay Minerals, Inc. | 427,749 | 2,549,663 | ||||||||
Imperial Oil Ltd. | 1,514 | 43,971 | ||||||||
Kinross Gold Corp.* | 261,946 | 910,000 | ||||||||
Lundin Mining Corp. | 48,640 | 258,977 | ||||||||
Maple Leaf Foods, Inc. | 67,512 | 1,687,183 | ||||||||
Norbord, Inc. | 27,632 | 854,040 | ||||||||
Pan American Silver Corp. | 33,093 | 554,011 | ||||||||
Silver Wheaton Corp. | 91,523 | 1,823,365 | ||||||||
Stella-Jones, Inc. | 22,634 | 715,786 | ||||||||
Suncor Energy, Inc. | 2,713 | 84,884 | ||||||||
Teck Resources Ltd., Class B | 37,541 | 777,562 | ||||||||
TransCanada Corp. | 1,227 | 56,877 | ||||||||
Turquoise Hill Resources Ltd.* | 188,175 | 511,966 | ||||||||
West Fraser Timber Co. Ltd. | 26,771 | 1,201,004 | ||||||||
Yamana Gold, Inc. | 206,091 | 553,173 | ||||||||
Total Canada | 24,238,198 | |||||||||
Chile — 0.4% | ||||||||||
Antofagasta PLC | 64,030 | 694,189 | ||||||||
China — 5.6% | ||||||||||
Aluminum Corp. of China Ltd., Class H*(a) | 1,012,218 | 498,460 | ||||||||
Beijing Enterprises Water Group Ltd.* | 377,683 | 289,422 | ||||||||
China Agri-Industries Holdings Ltd.* | 596,936 | 295,492 | ||||||||
China Coal Energy Co., Ltd., Class H*(a) | 1,221,866 | 593,844 | ||||||||
China Petroleum & Chemical Corp., Class H | 206,311 | 167,117 | ||||||||
China Resources Power Holdings Co., Ltd. | 415,282 | 748,597 | ||||||||
China Shenhua Energy Co., Ltd., Class H | 1,815,447 | 4,234,265 | ||||||||
CNOOC Ltd. | 80,438 | 93,805 | ||||||||
Jiangxi Copper Co., Ltd., Class H | 237,006 | 369,943 | ||||||||
PetroChina Co., Ltd., Class H | 325,369 | 229,252 | ||||||||
Yanzhou Coal Mining Co., Ltd., Class H(a) | 439,364 | 380,187 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
China (continued) | ||||||||||
Zhaojin Mining Industry Co., Ltd., Class H(a) | 634,450 | $ | 551,444 | |||||||
Zijin Mining Group Co., Ltd., Class H | 4,600,119 | 1,626,518 | ||||||||
Total China | 10,078,346 | |||||||||
Finland — 4.8% | ||||||||||
Stora Enso OYJ, Class R | 255,869 | 3,042,623 | ||||||||
UPM-Kymmene OYJ | 178,145 | 4,700,401 | ||||||||
Valmet OYJ | 47,827 | 871,318 | ||||||||
Total Finland | 8,614,342 | |||||||||
France — 0.6% | ||||||||||
Suez | 25,189 | 413,775 | ||||||||
TOTAL SA | 4,241 | 217,842 | ||||||||
Veolia Environnement SA | 24,553 | 466,293 | ||||||||
Total France | 1,097,910 | |||||||||
Germany — 0.3% | ||||||||||
Suedzucker AG | 23,297 | 498,125 | ||||||||
Hong Kong — 0.6% | ||||||||||
C.P. Pokphand Co., Ltd. | 12,263,590 | 1,056,452 | ||||||||
Hong Kong & China Gas Co., Ltd. | 22,663 | 45,282 | ||||||||
Total Hong Kong | 1,101,734 | |||||||||
Indonesia — 0.1% | ||||||||||
Sakari Resources Ltd.*(b)(c) | 240,456 | 182,256 | ||||||||
Italy — 0.1% | ||||||||||
Eni SpA | 6,491 | 100,866 | ||||||||
Japan — 5.4% | ||||||||||
Daio Paper Corp. | 49,184 | 623,459 | ||||||||
Itoham Yonekyu Holdings, Inc. | 128,181 | 1,185,562 | ||||||||
Kurita Water Industries Ltd. | 6,550 | 168,994 | ||||||||
Mitsubishi Materials Corp. | 8,320 | 247,428 | ||||||||
Mitsui & Co., Ltd. | 4,020 | 56,728 | ||||||||
NH Foods Ltd. | 99,754 | 2,836,819 | ||||||||
Nichirei Corp. | 17,646 | 439,290 | ||||||||
Nippon Paper Industries Co., Ltd. | 39,318 | 743,187 | ||||||||
Nisshin Seifun Group, Inc. | 37,555 | 575,774 | ||||||||
Oji Holdings Corp. | 350,735 | 1,695,937 | ||||||||
Sumitomo Metal Mining Co., Ltd. | 47,350 | 642,052 | ||||||||
Yamazaki Baking Co., Ltd. | 26,322 | 554,682 | ||||||||
Total Japan | 9,769,912 | |||||||||
Jersey — 1.3% | ||||||||||
Centamin PLC | 234,169 | 535,929 | ||||||||
Randgold Resources Ltd. | 19,699 | 1,734,294 | ||||||||
Total Jersey | 2,270,223 | |||||||||
Mexico — 1.6% | ||||||||||
Fresnillo PLC | 151,243 | 2,841,137 | ||||||||
Netherlands — 0.2% | ||||||||||
Royal Dutch Shell PLC, Class B | 14,365 | 381,451 | ||||||||
Norway — 0.5% | ||||||||||
Norsk Hydro ASA | 127,740 | 730,667 | ||||||||
Statoil ASA | 5,587 | 92,416 | ||||||||
Total Norway | 823,083 | |||||||||
Peru — 1.1% | ||||||||||
Southern Copper Corp.(a) | 53,368 | 1,887,626 | ||||||||
Portugal — 0.5% | ||||||||||
Navigator Co. SA (The) | 232,683 | 984,635 |
See notes to financial statements.
Schedules of Investments — IQ Global Resources ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Russia — 0.6% | ||||||||||
Polymetal International PLC | 87,807 | $ | 1,153,043 | |||||||
Singapore — 1.4% | ||||||||||
First Resources Ltd. | 187,632 | 251,706 | ||||||||
Golden Agri-Resources Ltd. | 1,483,767 | 382,168 | ||||||||
Wilmar International Ltd. | 752,599 | 1,911,517 | ||||||||
Total Singapore | 2,545,391 | |||||||||
Spain — 0.2% | ||||||||||
Ebro Foods SA | 18,125 | 405,205 | ||||||||
Repsol SA | 2,604 | 41,216 | ||||||||
Total Spain | 446,421 | |||||||||
Sweden — 2.1% | ||||||||||
AAK AB | 4,945 | 353,781 | ||||||||
Boliden AB | 17,699 | 506,097 | ||||||||
Holmen AB, B Shares | 26,848 | 1,132,159 | ||||||||
Sandvik AB | 112,644 | 1,808,960 | ||||||||
Total Sweden | 3,800,997 | |||||||||
Switzerland — 2.4% | ||||||||||
Bell Food Group AG | 1,963 | 842,525 | ||||||||
Glencore PLC* | 883,497 | 3,470,793 | ||||||||
Total Switzerland | 4,313,318 | |||||||||
United Kingdom — 6.0% | ||||||||||
Acacia Mining PLC | 81,149 | 415,327 | ||||||||
Anglo American PLC* | 81,691 | 1,169,435 | ||||||||
BP PLC | 33,588 | 192,286 | ||||||||
Cranswick PLC | 25,212 | 874,815 | ||||||||
Johnson Matthey PLC | 40,444 | 1,558,744 | ||||||||
Pennon Group PLC | 19,603 | 217,347 | ||||||||
Pentair PLC | 8,401 | 541,948 | ||||||||
Rio Tinto PLC | 115,018 | 4,556,394 | ||||||||
Severn Trent PLC | 10,787 | 324,470 | ||||||||
Tate & Lyle PLC | 54,792 | 536,261 | ||||||||
United Utilities Group PLC | 31,862 | 401,291 | ||||||||
Total United Kingdom | 10,788,318 | |||||||||
United States — 34.1% | ||||||||||
Alcoa Corp. | 10,345 | 348,937 | ||||||||
American Water Works Co., Inc. | 8,380 | 668,389 | ||||||||
Anadarko Petroleum Corp. | 935 | 53,314 | ||||||||
Aqua America, Inc.(a) | 8,502 | 281,331 | ||||||||
Archer-Daniels-Midland Co. | 71,379 | 3,265,589 | ||||||||
Bunge Ltd. | 16,960 | 1,340,349 | ||||||||
Chevron Corp. | 3,456 | 368,755 | ||||||||
Conagra Brands, Inc. | 51,759 | 2,007,214 | ||||||||
ConocoPhillips | 2,240 | 107,318 | ||||||||
CONSOL Energy, Inc.*(a) | 20,556 | 312,040 | ||||||||
Domtar Corp. | 19,644 | 778,885 | ||||||||
EOG Resources, Inc. | 1,039 | 96,107 | ||||||||
Exxon Mobil Corp. | 7,710 | 629,521 | ||||||||
Flowserve Corp.(a) | 6,096 | 310,103 | ||||||||
Freeport-McMoRan, Inc.* | 83,066 | 1,059,091 | ||||||||
Fresh Del Monte Produce, Inc. | 6,224 | 381,531 | ||||||||
General Mills, Inc. | 70,709 | 4,066,475 | ||||||||
Hain Celestial Group, Inc. (The)* | 12,433 | 459,897 | ||||||||
Halliburton Co. | 1,550 | 71,114 | ||||||||
Hecla Mining Co.(a) | 83,291 | 453,936 | ||||||||
Hormel Foods Corp. | 277,265 | 9,726,456 | ||||||||
IDEX Corp. | 3,615 | 378,707 | ||||||||
Ingredion, Inc. | 8,594 | 1,064,109 | ||||||||
JM Smucker Co. (The) | 14,353 | 1,818,812 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
United States (continued) | ||||||||||
KapStone Paper and Packaging Corp. | 32,227 | $ | 679,667 | |||||||
Kellogg Co. | 42,190 | 2,995,490 | ||||||||
Kinder Morgan, Inc. | 4,061 | 83,778 | ||||||||
Louisiana-Pacific Corp.* | 46,594 | 1,199,330 | ||||||||
Marathon Petroleum Corp. | 958 | 48,801 | ||||||||
Newmont Mining Corp. | 115,564 | 3,907,219 | ||||||||
Occidental Petroleum Corp. | 1,396 | 85,910 | ||||||||
Phillips 66 | 978 | 77,810 | ||||||||
Pilgrim’s Pride Corp.(a) | 127,659 | 3,314,028 | ||||||||
Pioneer Natural Resources Co. | 302 | 52,243 | ||||||||
Post Holdings, Inc.*(a) | 7,848 | 660,723 | ||||||||
Royal Gold, Inc. | 14,251 | 1,007,261 | ||||||||
Sanderson Farms, Inc.(a) | 11,455 | 1,326,260 | ||||||||
Schlumberger Ltd. | 2,291 | 166,304 | ||||||||
Seaboard Corp. | 580 | 2,455,726 | ||||||||
Tahoe Resources, Inc. | 52,589 | 425,389 | ||||||||
Tyson Foods, Inc., Class A | 187,887 | 12,073,619 | ||||||||
Valero Energy Corp. | 889 | 57,438 | ||||||||
Williams Cos., Inc. (The) | 1,338 | 40,983 | ||||||||
Xylem, Inc. | 8,375 | 430,559 | ||||||||
Total United States | 61,136,518 | |||||||||
Total Common Stocks (Cost $163,248,529) | 161,904,788 | |||||||||
Short-Term Investment — 12.8% | ||||||||||
Money Market Fund — 12.8% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 0.61%(d) (Cost $23,049,094) | 23,049,094 | 23,049,094 | ||||||||
Investment of Cash Collateral For Securities Loaned — 1.2% | ||||||||||
Money Market Fund — 1.2% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(e) (Cost $2,091,984) | 2,091,984 | 2,091,984 | ||||||||
Total Investments — 104.2% (Cost $188,389,607) | 187,045,866 | |||||||||
Other Assets and Liabilities, Net — (4.2)% | (7,595,643 | ) | ||||||||
Net Assets — 100.0% | $ | 179,450,223 |
* | Non-income producing securities. |
(a) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $7,946,393; total market value of collateral held by the Fund was $8,240,792. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $6,148,808. |
(b) | Security has been deemed illiquid because it may not be able to be sold within seven days at approximately the value shown. At April 30, 2017, the value of this security was $182,256. |
(c) | Security fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. |
(d) | Reflects the 7-day yield at April 30, 2017. |
(e) | Reflects the 1-day yield at April 30, 2017. |
See notes to financial statements.
Schedules of Investments — IQ Global Resources ETF (continued)
April 30, 2017
Total Return Benchmark | Annual Financing Rate (Received) Paid % | Expiration Date | Notional Amount Long (Short) | Unrealized Appreciation (Depreciation)(f) | ||||||||||||||
iShares MSCI EAFE ETF | 0.23 | 4/10/2018 | $ | (18,276,595 | ) | $ | — | |||||||||||
SPDR S&P 500 ETF Trust | 0.41 | 4/10/2018 | (18,002,181 | ) | — | |||||||||||||
$ | — |
(f) | Reflects a reset date of April 30, 2017. |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(g) | ||||||||||||||||||
Common Stocks | $ | 161,722,532 | $ | — | $ | 182,256 | (h) | $ | 161,904,788 | |||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 23,049,094 | — | — | 23,049,094 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 2,091,984 | — | — | 2,091,984 | ||||||||||||||
Total Investments in Securities | 186,863,610 | — | 182,256 | 187,045,866 | ||||||||||||||
Other Financial Instruments:(i) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 186,863,610 | $ | — | $ | 182,256 | $ | 187,045,866 | ||||||||||
Liability Valuation Inputs | ||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(i) | ||||||||||||||||||
Swap Contracts | $ | — | $ | — | $ | — | $ | — | ||||||||||
Total Other Financial Instruments | $ | — | $ | — | $ | — | $ | — |
(g) | For a complete listing of investments and their countries, see the Schedules of Investments. |
(h) | The Level 3 security, valued at $182,256 has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees. |
(i) | Reflects the unrealized appreciation (depreciation) of the instruments. |
Investments in Securities | Balance as of April 30, 2016 | Accrued Discounts (Premiums) | Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Purchases | Sales | Transfers into Level 3 | Transfers out of Level 3 | Balance as of April 30, 2017 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2017(j) | ||||||||||||||||||||||||||||||
Common Stock: | ||||||||||||||||||||||||||||||||||||||||
Sakari Resources Ltd.(k) | $ | 64,406 | $ | — | $ | — | $ | 117,850 | $ | — | $ | — | $ | — | $ | — | $ | 182,256 | $ | 117,850 | ||||||||||||||||||||
Total | $ | 64,406 | $ | — | $ | — | $ | 117,850 | $ | — | $ | — | $ | — | $ | — | $ | 182,256 | $ | 117,850 |
Security Type | Fair Value | Valuation Technique | Unobservable Inputs | ||||||
Common Stock | $ | 182,256 | Peer Analysis | Comparable Securities |
(j) | Included in “Net change in unrealized appreciation (depreciation) on investments” in the Statement of Operations. |
(k) | Security has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees. |
See notes to financial statements.
Shares | Value | |||||||||
Common Stocks — 75.8% | ||||||||||
Consumer Discretionary — 12.5% | ||||||||||
CST Brands, Inc.(a) | 92,564 | $ | 4,469,915 | |||||||
Sky PLC | 173,268 | 2,223,721 | ||||||||
TASAKI & Co., Ltd. | 34,272 | 675,786 | ||||||||
Tatts Group Ltd. | 477,115 | 1,534,284 | ||||||||
Time Warner, Inc.(b) | 148,399 | 14,731,569 | ||||||||
Total Consumer Discretionary | 23,635,275 | |||||||||
Consumer Staples — 13.2% | ||||||||||
Booker Group PLC | 353,008 | 886,006 | ||||||||
Mead Johnson Nutrition Co. | 117,843 | 10,455,031 | ||||||||
Reynolds American, Inc.(b) | 210,665 | 13,587,892 | ||||||||
Total Consumer Staples | 24,928,929 | |||||||||
Energy — 7.5% | ||||||||||
Amec Foster Wheeler PLC | 141,096 | 991,208 | ||||||||
Baker Hughes, Inc. | 137,971 | 8,191,338 | ||||||||
ONEOK Partners LP | 41,799 | 2,150,977 | ||||||||
Sakari Resources Ltd.*(c)(d) | 425 | 322 | ||||||||
Western Refining, Inc. | 83,729 | 2,887,813 | ||||||||
Total Energy | 14,221,658 | |||||||||
Financials — 5.3% | ||||||||||
Aberdeen Asset Management PLC | 296,483 | 1,070,174 | ||||||||
Allied World Assurance Co. Holdings AG | 53,550 | 2,842,970 | ||||||||
Astoria Financial Corp. | 61,136 | 1,246,563 | ||||||||
Delta Lloyd NV | 7,695 | 44,202 | ||||||||
EverBank Financial Corp. | 37,297 | 727,291 | ||||||||
Fortress Investment Group LLC, Class A | 186,480 | 1,499,299 | ||||||||
Genworth Financial, Inc., Class A* | 501,086 | 2,024,387 | ||||||||
Stonegate Bank(a) | 12,335 | 566,177 | ||||||||
Total Financials | 10,021,063 | |||||||||
Health Care — 2.9% | ||||||||||
Actelion Ltd.* | 910 | 242,801 | ||||||||
STADA Arzneimittel AG | 20,602 | 1,458,918 | ||||||||
VCA, Inc.* | 41,067 | 3,760,505 | ||||||||
Total Health Care | 5,462,224 | |||||||||
Industrials — 1.3% | ||||||||||
DigitalGlobe, Inc.* | 38,426 | 1,237,317 | ||||||||
Spotless Group Holdings Ltd. | 839,976 | �� | 678,430 | |||||||
Zodiac Aerospace | 26,505 | 643,348 | ||||||||
Total Industrials | 2,559,095 | |||||||||
Information Technology — 13.6% | ||||||||||
Brocade Communications Systems, Inc. | 312,994 | 3,934,335 | ||||||||
DH Corp. | 38,935 | 723,001 | ||||||||
InvenSense, Inc.*(a) | 256,000 | 3,292,160 | ||||||||
Lattice Semiconductor Corp.*(a) | 124,813 | 856,217 | ||||||||
MoneyGram International, Inc.* | 40,451 | 720,432 | ||||||||
NeuStar, Inc., Class A* | 60,294 | 2,001,761 | ||||||||
NXP Semiconductors NV* | 133,449 | 14,112,232 | ||||||||
Total Information Technology | 25,640,138 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Materials — 13.1% | ||||||||||
Headwaters, Inc.* | 126,060 | $ | 2,995,186 | |||||||
Linde AG | 31,313 | 5,624,512 | ||||||||
Monsanto Co.(b) | 109,607 | 12,781,272 | ||||||||
Stillwater Mining Co.* | 188,604 | 3,391,100 | ||||||||
Total Materials | 24,792,070 | |||||||||
Real Estate — 0.8% | ||||||||||
FelCor Lodging Trust, Inc. | 130,452 | 1,011,003 | ||||||||
Milestone Apartments Real Estate Investment Trust(c)(d) | 29,469 | 478,871 | ||||||||
Total Real Estate | 1,489,874 | |||||||||
Telecommunication Services — 3.2% | ||||||||||
Level 3 Communications, Inc.* | 98,415 | 5,979,695 | ||||||||
Utilities — 2.4% | ||||||||||
DUET Group | 272,362 | 615,131 | ||||||||
Westar Energy, Inc. | 47,734 | 2,483,600 | ||||||||
WGL Holdings, Inc. | 16,612 | 1,369,826 | ||||||||
Total Utilities | 4,468,557 | |||||||||
Total Common Stocks (Cost $138,847,181) | 143,198,578 | |||||||||
Right — 0.0%(e) | ||||||||||
Health Care — 0.0%(e) | ||||||||||
Dyax Corp. CVR*(c)(d) (Cost $0) | 23,351 | 25,920 | ||||||||
Investment Companies — 5.1% | ||||||||||
U.S. Short Term Treasury Bond Funds — 5.1% | ||||||||||
iShares Short Treasury Bond ETF | 82,924 | 9,145,688 | ||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | 8,500 | 388,705 | ||||||||
Total U.S. Short Term Treasury Bond Funds | 9,534,393 | |||||||||
Total Investment Companies (Cost $9,538,209) | 9,534,393 |
See notes to financial statements.
Schedules of Investments — IQ Merger Arbitrage ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Short-Term Investment — 21.3% | ||||||||||
Money Market Fund — 21.3% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 0.61%(f) (Cost $40,196,106) | 40,196,106 | $ | 40,196,106 | |||||||
Investment of Cash Collateral For Securities Loaned — 1.3% | ||||||||||
Money Market Fund — 1.3% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(g) (Cost $2,400,238) | 2,400,238 | 2,400,238 | ||||||||
Total Investments — 103.5% (Cost $190,981,734) | 195,355,235 | |||||||||
Other Assets and Liabilities, Net — (3.5)% | (6,522,153 | ) | ||||||||
Net Assets — 100.0% | $ | 188,833,082 |
* | Non-income producing securities. |
(a) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $7,519,320; total market value of collateral held by the Fund was $7,706,857. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $5,306,619. |
(b) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $14,389,390. |
(c) | Securities have been deemed illiquid because they may not be able to be resold within seven days at approximately the price shown. At April 30, 2017, the value of this security was $505,113. |
(d) | Security fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. |
(e) | Less than 0.05%. |
(f) | Reflects the 7-day yield at April 30, 2017. |
(g) | Reflects the 1-day yield at April 30, 2017. |
Total Return Benchmark | Annual Financing Rate (Received) Paid % | Expiration Date | Notional Amount Long (Short) | Unrealized Appreciation (Depreciation)(h) | ||||||||||||||
Energy Select Sector SPDR Fund | 0.06 | 1/10/2019 | $ | (8,458,902 | ) | $ | — | |||||||||||
Financial Select Sector SPDR Fund | 0.32 | 1/10/2019 | (3,499,405 | ) | — | |||||||||||||
Industrial Select Sector SPDR Fund | 0.10 | 1/10/2019 | (623,198 | ) | — | |||||||||||||
Materials Select Sector SPDR Fund | 0.04 | 1/10/2019 | (5,289,062 | ) | — | |||||||||||||
Technology Select Sector SPDR Fund | 0.05 | 1/10/2019 | (7,388,611 | ) | — | |||||||||||||
Utilities Select Sector SPDR Fund | (0.05 | ) | 1/10/2019 | (391,162 | ) | — | ||||||||||||
Vanguard FTSE Europe ETF | 0.21 | 1/10/2019 | (9,918,408 | ) | — | |||||||||||||
Vanguard REIT ETF | 0.07 | 1/10/2019 | (981,144 | ) | — | |||||||||||||
Vanguard Telecommunication Services ETF | (8.62 | ) | 1/10/2019 | (3,570,087 | ) | — | ||||||||||||
�� | $ | — |
(h) | Reflects a reset date of April 30, 2017. |
See notes to financial statements.
Schedules of Investments — IQ Merger Arbitrage ETF (continued)
April 30, 2017
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(i) | ||||||||||||||||||
Common Stocks | $ | 142,719,385 | $ | 478,871 | $ | 322 | (j) | $ | 143,198,578 | |||||||||
Investment Companies | 9,534,393 | — | — | 9,534,393 | ||||||||||||||
Rights | — | — | 25,920 | (j) | 25,920 | |||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 40,196,106 | — | — | 40,196,106 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 2,400,238 | — | — | 2,400,238 | ||||||||||||||
Total Investments in Securities | 194,850,122 | 478,871 | 26,242 | 195,355,235 | ||||||||||||||
Other Financial Instruments:(k) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 194,850,122 | $ | 478,871 | $ | 26,242 | $ | 195,355,235 | ||||||||||
Liability Valuation Inputs | ||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(k) | ||||||||||||||||||
Swap Contracts | $ | — | $ | — | $ | — | $ | — | ||||||||||
Total Other Financial Instruments | $ | — | $ | — | $ | — | $ | — |
(i) | For a complete listing of investments and their industries, see the Schedules of Investments. |
(j) | The Level 3 security, valued at $26,242 has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees. |
(k) | Reflects the unrealized appreciation (depreciation) of the instruments. |
Investments in Securities | Balance as of April 30, 2016 | Accrued Discounts (Premiums) | Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Purchases | Sales | Transfers into Level 3 | Transfers out of Level 3 | Balance as of April 30, 2017 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2017(l) | ||||||||||||||||||||||||||||||
Common Stock: | ||||||||||||||||||||||||||||||||||||||||
Sakari Resources Ltd.(m) | $ | 114 | $ | — | $ | — | $ | 208 | $ | — | $ | — | $ | — | $ | — | $ | 322 | $ | 208 | ||||||||||||||||||||
Right: | ||||||||||||||||||||||||||||||||||||||||
Dyax Corp. CVR(m) | 25,920 | — | — | — | — | — | — | — | 25,920 | — | ||||||||||||||||||||||||||||||
Trius Therapeutics CVR | — | (n) | — | — | — | — | — | — | — | — | (n) | — | ||||||||||||||||||||||||||||
Total | $ | 26,034 | $ | — | $ | — | $ | 208 | $ | — | $ | — | $ | — | $ | — | $ | 26,242 | $ | 208 |
Security Type | Fair Value | Valuation Technique | Unobservable Inputs | |||||||
Common Stock | $ | 322 | Peer Analysis | Comparable Securities | ||||||
Right | 25,920 | Issuer Specific Facts | Contingent Payment Terms |
(l) | Included in “Net change in unrealized appreciation (depreciation) on investments” in the Statement of Operations. |
(m) | Security has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees. |
(n) | Includes a level 3 security valued at $ —. |
See notes to financial statements.
Shares | Value | |||||||||
Investment Companies — 99.9% | ||||||||||
U.S. Intermediate Term Treasury Bond Funds — 10.0% | ||||||||||
iShares 3-7 Year Treasury Bond ETF | 11,525 | $ | 1,425,873 | |||||||
iShares 7-10 Year Treasury Bond ETF(a) | 13,353 | 1,423,429 | ||||||||
Total U.S. Intermediate Term Treasury Bond Funds | 2,849,302 | |||||||||
U.S. Large Cap Core Funds — 10.1% | ||||||||||
Consumer Discretionary Select Sector SPDR Fund | 1,067 | 96,094 | ||||||||
Consumer Staples Select Sector SPDR Fund | 1,373 | 75,762 | ||||||||
Energy Select Sector SPDR Fund(a) | 757 | 51,355 | ||||||||
Financial Select Sector SPDR Fund | 4,332 | 101,932 | ||||||||
Health Care Select Sector SPDR Fund | 1,482 | 111,891 | ||||||||
Industrial Select Sector SPDR Fund(a) | 1,152 | 76,424 | ||||||||
iShares Core S&P 500 ETF(a) | 2,605 | 624,054 | ||||||||
Materials Select Sector SPDR Fund | 427 | 22,661 | ||||||||
SPDR S&P 500 ETF Trust(a) | 6,440 | 1,533,235 | ||||||||
Technology Select Sector SPDR Fund | 3,001 | 163,194 | ||||||||
Utilities Select Sector SPDR Fund | 469 | 24,247 | ||||||||
Vanguard Telecommunication Services ETF(a) | 206 | 19,972 | ||||||||
Total U.S. Large Cap Core Funds | 2,900,821 | |||||||||
U.S. REITS Funds — 9.9% | ||||||||||
iShares U.S. Real Estate ETF | 3,631 | 286,595 | ||||||||
Real Estate Select Sector SPDR Fund | 722 | 22,851 | ||||||||
SPDR Dow Jones REIT ETF(a) | 2,390 | 220,095 | ||||||||
Vanguard REIT ETF | 27,784 | 2,300,238 | ||||||||
Total U.S. REITS Funds | 2,829,779 | |||||||||
U.S. Short Term Treasury Bond Funds — 69.9% | ||||||||||
iShares Short Treasury Bond ETF | 64,733 | 7,139,402 | ||||||||
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund(a) | 70,269 | 7,142,141 | ||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Short Term Treasury Bond Funds (continued) | ||||||||||
Schwab Short-Term U.S. Treasury ETF | 41,250 | $ | 2,082,300 | |||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF(a) | 79,364 | 3,629,316 | ||||||||
Total U.S. Short Term Treasury Bond Funds | 19,993,159 | |||||||||
Total Investment Companies (Cost $28,192,066) | 28,573,061 | |||||||||
Short-Term Investment — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 0.61%(b) (Cost $38,957) | 38,957 | 38,957 | ||||||||
Investment of Cash Collateral For Securities Loaned — 12.2% | ||||||||||
Money Market Fund — 12.2% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(c) (Cost $3,489,074) | 3,489,074 | 3,489,074 | ||||||||
Total Investments — 112.2% (Cost $31,720,097) | 32,101,092 | |||||||||
Other Assets and Liabilities, Net — (12.2)% | (3,493,332 | ) | ||||||||
Net Assets — 100.0% | $ | 28,607,760 |
(a) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $5,430,091; total market value of collateral held by the Fund was $5,572,889. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $2,083,815. |
(b) | Reflects the 7-day yield at April 30, 2017. |
(c) | Reflects the 1-day yield at April 30, 2017. |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(d) | ||||||||||||||||||
Investment Companies | $ | 28,573,061 | $ | — | $ | — | $ | 28,573,061 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 38,957 | — | — | 38,957 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 3,489,074 | — | — | 3,489,074 | ||||||||||||||
Total Investments in Securities | $ | 32,101,092 | $ | — | $ | — | $ | 32,101,092 |
(d) | For a complete listing of investments and their industries, see the Schedules of Investments. |
See notes to financial statements.
Shares | Value | |||||||||
Common Stocks — 99.9% | ||||||||||
Consumer Discretionary — 23.7% | ||||||||||
Ainsworth Game Technology Ltd. | 12,971 | $ | 18,043 | |||||||
APN News & Media Ltd. | 26,159 | 48,712 | ||||||||
APN Outdoor Group Ltd. | 16,134 | 65,759 | ||||||||
Automotive Holdings Group Ltd.(a) | 21,591 | 60,228 | ||||||||
Autosports Group Ltd.* | 10,715 | 18,430 | ||||||||
Bapcor Ltd. | 25,720 | 100,597 | ||||||||
Breville Group Ltd. | 12,541 | 100,353 | ||||||||
Collins Foods Ltd. | 8,339 | 32,741 | ||||||||
Corporate Travel Management Ltd. | 6,679 | 101,696 | ||||||||
Fairfax Media Ltd. | 214,454 | 170,002 | ||||||||
G8 Education Ltd. | 33,658 | 93,133 | ||||||||
Greencross Ltd. | 8,400 | 42,717 | ||||||||
IDP Education Ltd. | 11,725 | 40,335 | ||||||||
InvoCare Ltd. | 10,371 | 113,159 | ||||||||
JB Hi-Fi Ltd.(a) | 11,216 | 207,097 | ||||||||
Mantra Group Ltd.(a) | 28,939 | 61,031 | ||||||||
Myer Holdings Ltd.(a) | 79,711 | 66,169 | ||||||||
Navitas Ltd. | 18,952 | 65,055 | ||||||||
Nine Entertainment Co. Holdings Ltd. | 79,087 | 72,749 | ||||||||
oOh!media Ltd. | 13,453 | 45,274 | ||||||||
RCG Corp., Ltd. | 32,825 | 20,375 | ||||||||
Retail Food Group Ltd.(a) | 14,041 | 57,333 | ||||||||
Seven West Media Ltd. | 86,669 | 47,963 | ||||||||
Southern Cross Media Group Ltd. | 74,630 | 71,998 | ||||||||
Super Retail Group Ltd.(a) | 13,561 | 95,838 | ||||||||
Village Roadshow Ltd. | 7,442 | 20,203 | ||||||||
Vita Group Ltd. | 11,683 | 19,833 | ||||||||
Webjet Ltd. | 8,302 | 70,716 | ||||||||
Total Consumer Discretionary | 1,927,539 | |||||||||
Consumer Staples — 8.3% | ||||||||||
Asaleo Care Ltd. | 31,166 | 41,837 | ||||||||
Australian Agricultural Co., Ltd.*(a) | 33,236 | 42,876 | ||||||||
Bega Cheese Ltd. | 12,811 | 57,484 | ||||||||
Bellamy’s Australia Ltd.(a) | 8,214 | 31,574 | ||||||||
Costa Group Holdings Ltd. | 31,272 | 102,902 | ||||||||
GrainCorp Ltd., Class A | 22,219 | 148,219 | ||||||||
Inghams Group Ltd. | 19,511 | 45,671 | ||||||||
Metcash Ltd.* | 95,537 | 153,612 | ||||||||
Tassal Group Ltd. | 15,376 | 51,285 | ||||||||
Total Consumer Staples | 675,460 | |||||||||
Energy — 4.0% | ||||||||||
Beach Energy Ltd. | 138,751 | 76,267 | ||||||||
Whitehaven Coal Ltd.* | 61,160 | 125,323 | ||||||||
WorleyParsons Ltd.*(a) | 14,783 | 125,148 | ||||||||
Total Energy | 326,738 | |||||||||
Financials — 9.4% | ||||||||||
Eclipx Group Ltd. | 21,090 | 60,881 | ||||||||
FlexiGroup Ltd.(a) | 27,234 | 47,455 | ||||||||
Genworth Mortgage Insurance Australia Ltd. | 22,897 | 56,336 | ||||||||
IOOF Holdings Ltd.(a) | 26,425 | 174,300 | ||||||||
IRESS Ltd. | 10,262 | 95,547 | ||||||||
nib holdings Ltd. | 42,680 | 191,509 | ||||||||
Steadfast Group Ltd. | 66,247 | 134,757 | ||||||||
Total Financials | 760,785 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Health Care — 8.4% | ||||||||||
Australian Pharmaceutical Industries Ltd. | 35,726 | $ | 59,581 | |||||||
Estia Health Ltd.(a) | 22,180 | 50,757 | ||||||||
Japara Healthcare Ltd.(a) | 22,591 | 34,972 | ||||||||
Mayne Pharma Group Ltd.*(a) | 127,740 | 128,488 | ||||||||
Nanosonics Ltd.* | 23,781 | 56,199 | ||||||||
Primary Health Care Ltd. | 47,092 | 119,388 | ||||||||
Regis Healthcare Ltd.(a) | 13,116 | 44,042 | ||||||||
Sigma Pharmaceuticals Ltd.* | 100,443 | 93,895 | ||||||||
Sirtex Medical Ltd. | 5,469 | 63,559 | ||||||||
Virtus Health Ltd. | 6,766 | 29,449 | ||||||||
Total Health Care | 680,330 | |||||||||
Industrials — 13.4% | ||||||||||
ALS Ltd. | 48,374 | 226,103 | ||||||||
Austal Ltd. | 27,343 | 35,069 | ||||||||
Cleanaway Waste Management Ltd. | 145,450 | 138,144 | ||||||||
Downer EDI Ltd. | 57,233 | 251,674 | ||||||||
GWA Group Ltd. | 19,087 | 44,535 | ||||||||
IPH Ltd. | 15,499 | 55,289 | ||||||||
McMillan Shakespeare Ltd. | 6,445 | 65,213 | ||||||||
Monadelphous Group Ltd. | 8,295 | 77,481 | ||||||||
Reliance Worldwide Corp., Ltd. | 33,140 | 75,590 | ||||||||
SmartGroup Corp., Ltd. | 7,189 | 34,731 | ||||||||
Spotless Group Holdings Ltd. | 105,042 | 84,840 | ||||||||
Total Industrials | 1,088,669 | |||||||||
Information Technology — 7.6% | ||||||||||
Aconex Ltd.*(a) | 15,254 | 50,080 | ||||||||
Altium Ltd. | 10,580 | 64,880 | ||||||||
carsales.com Ltd. | 17,863 | 156,833 | ||||||||
Hansen Technologies Ltd. | 13,824 | 37,218 | ||||||||
iSentia Group Ltd. | 18,998 | 20,601 | ||||||||
MYOB Group Ltd. | 30,789 | 81,050 | ||||||||
NEXTDC Ltd.* | 23,336 | 72,600 | ||||||||
Technology One Ltd. | 23,956 | 97,818 | ||||||||
WiseTech Global Ltd. | 7,425 | 32,206 | ||||||||
Total Information Technology | 613,286 | |||||||||
Materials — 24.6% | ||||||||||
CSR Ltd. | 49,290 | 180,621 | ||||||||
DuluxGroup Ltd. | 37,763 | 191,192 | ||||||||
Galaxy Resources Ltd.* | 169,366 | 53,831 | ||||||||
Independence Group NL(a) | 52,984 | 129,174 | ||||||||
Jacana Minerals Ltd.*(b)(c) | 2,006 | 221 | ||||||||
Metals X Ltd.* | 45,190 | 24,840 | ||||||||
Mineral Resources Ltd. | 14,816 | 118,447 | ||||||||
Northern Star Resources Ltd. | 57,035 | 182,557 | ||||||||
Nufarm Ltd. | 18,088 | 137,571 | ||||||||
Orocobre Ltd.*(a) | 18,224 | 42,931 | ||||||||
OZ Minerals Ltd. | 29,085 | 153,999 | ||||||||
Pact Group Holdings Ltd. | 16,982 | 89,535 | ||||||||
Pilbara Minerals Ltd.*(a)(b)(c) | 99,592 | 25,323 | ||||||||
Quintis Ltd.(a) | 31,658 | 28,410 | ||||||||
Regis Resources Ltd. | 43,035 | 105,241 | ||||||||
Resolute Mining Ltd. | 60,961 | 55,391 | ||||||||
Sandfire Resources NL | 14,909 | 64,557 | ||||||||
Saracen Mineral Holdings Ltd.* | 73,045 | 50,803 | ||||||||
Sims Metal Management Ltd. | 15,996 | 147,140 | ||||||||
St. Barbara Ltd.* | 48,576 | 98,084 | ||||||||
Syrah Resources Ltd.*(a) | 22,362 | 38,129 | ||||||||
See notes to financial statements.
Schedules of Investments — IQ Australia Small Cap ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Materials (continued) | ||||||||||
Western Areas Ltd.* | 25,809 | $ | 42,849 | |||||||
Westgold Resources Ltd.* | 25,566 | 37,092 | ||||||||
Total Materials | 1,997,938 | |||||||||
Telecommunication Services — 0.5% | ||||||||||
SpeedCast International Ltd. | 13,289 | 37,864 | ||||||||
Total Common Stocks (Cost $8,265,732) | 8,108,609 | |||||||||
Short-Term Investment — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 0.61%(d) (Cost $8,195) | 8,195 | 8,195 | ||||||||
Shares | Value | |||||||||
Investment of Cash Collateral For Securities Loaned — 13.9% | ||||||||||
Money Market Fund — 13.9% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(e) (Cost $1,126,757) | 1,126,757 | $ | 1,126,757 | |||||||
Total Investments — 113.9% (Cost $9,400,684) | 9,243,561 | |||||||||
Other Assets and Liabilities, Net — (13.9)% | (1,126,646 | ) | ||||||||
Net Assets — 100.0% | $ | 8,116,915 |
* | Non-income producing securities. |
(a) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $1,169,028; total market value of collateral held by the Fund was $1,232,402. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $105,645. |
(b) | Securities have been deemed illiquid because they may not be able to be resold within seven days at approximately the price shown. At April 30, 2017, the value of this security was $25,544. |
(c) | Security fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. |
(d) | Reflects the 7-day yield at April 30, 2017. |
(e) | Reflects the 1-day yield at April 30, 2017. |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(f) | ||||||||||||||||||
Common Stocks | $ | 8,083,065 | $ | — | $ | 25,544 | (g) | $ | 8,108,609 | |||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 8,195 | — | — | 8,195 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 1,126,757 | — | — | 1,126,757 | ||||||||||||||
Total Investments in Securities | $ | 9,218,017 | $ | — | $ | 25,544 | $ | 9,243,561 |
(f) | For a complete listing of investments and their industries, see the Schedules of Investments. |
(g) | The Level 3 security, valued at $25,544 has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees. |
See notes to financial statements.
Schedules of Investments — IQ Australia Small Cap ETF (continued)
April 30, 2017
Investments in Securities | Balance as of April 30, 2016 | Accrued Discounts (Premiums) | Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Purchases | Sales | Transfers into Level 3 | Transfers out of Level 3 | Balance as of April 30, 2017 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2017(h) | ||||||||||||||||||||||||||||||
Common Stock: | ||||||||||||||||||||||||||||||||||||||||
Jacana Minerals Ltd.(i) | $ | 201 | $ | — | $ | — | $ | 20 | $ | — | $ | — | $ | — | $ | — | $ | 221 | $ | 20 | ||||||||||||||||||||
Pilbara Minerals Ltd.(i) | — | — | (820 | ) | (16,633 | ) | 47,108 | (4,332 | ) | — | — | 25,323 | (16,633 | ) | ||||||||||||||||||||||||||
Total | $ | 201 | $ | — | $ | (820 | ) | $ | (16,613 | ) | $ | 47,108 | $ | (4,332 | ) | $ | — | $ | — | $ | 25,544 | $ | (16,613 | ) |
Security Type | Fair Value | Valuation Technique | Unobservable Inputs | |||||||
Common Stock | $ | 221 | Peer Analysis | Comparable Securities | ||||||
Common Stock | 25,323 | Valued at Last Sale | Comparable Securities |
(h) | Included in “Net change in unrealized appreciation (depreciation) on investments” in the Statement of Operations. |
(i) | Security has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees. |
See notes to financial statements.
Shares | Value | |||||||||
Common Stocks — 99.8% | ||||||||||
Consumer Discretionary — 7.8% | ||||||||||
Aimia, Inc. | 12,628 | $ | 84,415 | |||||||
Amaya Inc.* | 9,466 | 167,886 | ||||||||
Corus Entertainment, Inc., Class B(a) | 8,976 | 87,968 | ||||||||
EnerCare, Inc. | 8,591 | 136,219 | ||||||||
Hudson’s Bay Co.(a) | 9,499 | 86,702 | ||||||||
Martinrea International, Inc. | 7,107 | 54,161 | ||||||||
Quebecor, Inc., Class B | 6,851 | 208,792 | ||||||||
Total Consumer Discretionary | 826,143 | |||||||||
Consumer Staples — 6.0% | ||||||||||
Cott Corp. | 11,320 | 148,693 | ||||||||
Empire Co., Ltd., Class A(a) | 13,817 | 212,515 | ||||||||
Jean Coutu Group (PJC), Inc. (The), Class A | 6,305 | 103,016 | ||||||||
Maple Leaf Foods, Inc. | 6,960 | 173,936 | ||||||||
Total Consumer Staples | 638,160 | |||||||||
Energy — 24.3% | ||||||||||
Advantage Oil & Gas Ltd.* | 15,158 | 95,229 | ||||||||
Athabasca Oil Corp.* | 33,593 | 33,905 | ||||||||
Baytex Energy Corp.*(a) | 19,119 | 57,750 | ||||||||
Birchcliff Energy Ltd. | 18,423 | 94,453 | ||||||||
Bonavista Energy Corp. | 19,046 | 39,978 | ||||||||
Canacol Energy Ltd.* | 14,088 | 42,038 | ||||||||
Canadian Energy Services & Technology Corp. | 20,825 | 98,238 | ||||||||
Crew Energy, Inc.* | 11,732 | 35,266 | ||||||||
Ensign Energy Services, Inc. | 10,412 | 57,798 | ||||||||
Freehold Royalties Ltd. | 7,557 | 74,946 | ||||||||
Gibson Energy, Inc. | 11,692 | 158,282 | ||||||||
Kelt Exploration Ltd.* | 12,026 | 59,105 | ||||||||
MEG Energy Corp.*(a) | 18,648 | 84,286 | ||||||||
Mullen Group Ltd. | 8,308 | 90,961 | ||||||||
NexGen Energy Ltd.* | 23,426 | 50,543 | ||||||||
NuVista Energy Ltd.* | 13,736 | 61,783 | ||||||||
Painted Pony Petroleum Ltd.* | 8,122 | 29,701 | ||||||||
Paramount Resources Ltd., Class A* | 3,617 | 46,082 | ||||||||
Parex Resources, Inc.* | 12,045 | 149,318 | ||||||||
Parkland Fuel Corp. | 7,920 | 172,035 | ||||||||
Pengrowth Energy Corp.* | 36,200 | 34,683 | ||||||||
Penn West Petroleum Ltd.* | 41,449 | 62,145 | ||||||||
Precision Drilling Corp.* | 24,245 | 96,285 | ||||||||
Raging River Exploration, Inc.* | 17,431 | 101,605 | ||||||||
Secure Energy Services, Inc. | 12,889 | 83,803 | ||||||||
Spartan Energy Corp.* | 41,293 | 68,857 | ||||||||
TORC Oil & Gas Ltd. | 14,528 | 63,114 | ||||||||
Trican Well Service Ltd.* | 14,008 | 38,419 | ||||||||
Veresen, Inc. | 26,036 | 290,008 | ||||||||
Whitecap Resources, Inc.(a) | 30,039 | 212,226 | ||||||||
Total Energy | 2,582,842 | |||||||||
Financials — 3.2% | ||||||||||
Canadian Western Bank(a) | 7,120 | 139,713 | ||||||||
ECN Capital Corp. | 30,723 | 83,588 | ||||||||
Genworth MI Canada, Inc. | 3,382 | 83,851 | ||||||||
Home Capital Group, Inc.(a) | 4,902 | 28,825 | ||||||||
Total Financials | 335,977 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Health Care — 2.7% | ||||||||||
Canopy Growth Corp.*(a) | 11,905 | $ | 79,494 | |||||||
Extendicare, Inc. | 7,330 | 53,556 | ||||||||
Knight Therapeutics, Inc.* | 9,553 | 74,130 | ||||||||
ProMetic Life Sciences, Inc.*(a) | 47,481 | 75,008 | ||||||||
Total Health Care | 282,188 | |||||||||
Industrials — 12.4% | ||||||||||
Aecon Group, Inc. | 4,734 | 56,055 | ||||||||
Air Canada* | 22,626 | 214,958 | ||||||||
Bombardier, Inc., Class B* | 159,016 | 245,391 | ||||||||
CAE, Inc. | 22,268 | 339,565 | ||||||||
Chorus Aviation, Inc. | 9,970 | 54,105 | ||||||||
Russel Metals, Inc. | 5,092 | 97,498 | ||||||||
TFI International, Inc. | 7,222 | 156,979 | ||||||||
WestJet Airlines Ltd. | 9,636 | 159,132 | ||||||||
Total Industrials | 1,323,683 | |||||||||
Information Technology — 1.5% | ||||||||||
DH Corp. | 8,818 | 163,745 | ||||||||
Materials — 32.3% | ||||||||||
Alacer Gold Corp.* | 24,035 | 37,969 | ||||||||
Alamos Gold, Inc., Class A | 24,721 | 176,643 | ||||||||
Asanko Gold, Inc.* | 16,497 | 39,936 | ||||||||
B2Gold Corp.* | 78,307 | 196,440 | ||||||||
Canfor Corp.* | 5,753 | 86,255 | ||||||||
Centerra Gold, Inc. | 17,729 | 91,413 | ||||||||
Detour Gold Corp.* | 14,471 | 182,568 | ||||||||
Dominion Diamond Corp. | 6,543 | 79,389 | ||||||||
Eldorado Gold Corp. | 59,263 | 216,282 | ||||||||
Endeavour Mining Corp.* | 5,456 | 89,863 | ||||||||
First Majestic Silver Corp.* | 13,262 | 107,663 | ||||||||
Fortuna Silver Mines, Inc.* | 13,107 | 60,104 | ||||||||
Guyana Goldfields, Inc.* | 13,703 | 67,849 | ||||||||
Hudbay Minerals, Inc. | 19,663 | 117,204 | ||||||||
IAMGOLD Corp.* | 37,550 | 154,891 | ||||||||
Interfor Corp.* | 5,790 | 85,370 | ||||||||
Intertape Polymer Group, Inc. | 4,639 | 81,767 | ||||||||
Ivanhoe Mines Ltd., Class A* | 44,246 | 155,005 | ||||||||
Kirkland Lake Gold Ltd.*(a) | 15,168 | 104,833 | ||||||||
Klondex Mines Ltd.* | 14,322 | 51,116 | ||||||||
Labrador Iron Ore Royalty Corp. | 4,796 | 62,191 | ||||||||
Lucara Diamond Corp. | 25,079 | 57,777 | ||||||||
MAG Silver Corp.* | 5,811 | 70,975 | ||||||||
Nevsun Resources Ltd. | 24,708 | 54,754 | ||||||||
New Gold, Inc.* | 47,082 | 133,261 | ||||||||
Norbord, Inc. | 3,341 | 103,262 | ||||||||
Novagold Resources, Inc.*(a) | 19,386 | 80,249 | ||||||||
Pan American Silver Corp. | 12,438 | 208,225 | ||||||||
Pretium Resources, Inc.* | 11,850 | 117,261 | ||||||||
Sandstorm Gold Ltd.* | 12,445 | 43,052 | ||||||||
SEMAFO, Inc.* | 26,951 | 61,893 | ||||||||
Silver Standard Resources, Inc.* | 9,909 | 102,040 | ||||||||
Torex Gold Resources, Inc.* | 6,585 | 111,347 | ||||||||
Western Forest Products, Inc. | 32,610 | 51,277 | ||||||||
Total Materials | 3,440,124 | |||||||||
Real Estate — 0.6% | ||||||||||
Tricon Capital Group, Inc. | 8,827 | 69,335 |
See notes to financial statements.
Schedules of Investments — IQ Canada Small Cap ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Utilities — 9.0% | ||||||||||
Algonquin Power & Utilities Corp. | 30,698 | $ | 290,298 | |||||||
Capital Power Corp. | 7,191 | 130,851 | ||||||||
Just Energy Group, Inc. | 8,006 | 48,834 | ||||||||
Northland Power, Inc. | 9,365 | 165,273 | ||||||||
Superior Plus Corp. | 11,608 | 110,961 | ||||||||
TransAlta Corp. | 23,865 | 122,004 | ||||||||
TransAlta Renewables, Inc. | 7,470 | 85,173 | ||||||||
Total Utilities | 953,394 | |||||||||
Total Common Stocks (Cost $11,814,170) | 10,615,591 | |||||||||
Short-Term Investment — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 0.61%(b) (Cost $11,451) | 11,451 | 11,451 | ||||||||
Shares | Value | |||||||||
Investment of Cash Collateral For Securities Loaned — 7.8% | ||||||||||
Money Market Fund — 7.8% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(c) (Cost $832,449) | 832,449 | $ | 832,449 | |||||||
Total Investments — 107.7% (Cost $12,658,070) | 11,459,491 | |||||||||
Other Assets and Liabilities, Net — (7.7)% | (824,583 | ) | ||||||||
Net Assets — 100.0% | $ | 10,634,908 |
* | Non-income producing securities. |
(a) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $797,083; total market value of collateral held by the Fund was $832,449. |
(b) | Reflects the 7-day yield at April 30, 2017. |
(c) | Reflects the 1-day yield at April 30, 2017. |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(d) | ||||||||||||||||||
Common Stocks | $ | 10,615,591 | $ | — | $ | — | $ | 10,615,591 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 11,451 | — | — | 11,451 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 832,449 | — | — | 832,449 | ||||||||||||||
Total Investments in Securities | $ | 11,459,491 | $ | — | $ | — | $ | 11,459,491 |
(d) | For a complete listing of investments and their industries, see the Schedules of Investments. |
Investments in Securities | Balance as of April 30, 2016 | Accrued Discounts (Premiums) | Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Purchases | Sales | Transfers into Level 3 | Transfers out of Level 3 | Balance as of April 30, 2017 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2017(e) | ||||||||||||||||||||||||||||||||
Common Stock: | ||||||||||||||||||||||||||||||||||||||||||
Poseidon Concepts Corp. | $ | — | (f) | $ | — | $ | — | $ | — | $ | — | $ | — | (f) | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||
Total | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — |
(e) | Included in “Net change in unrealized appreciation (depreciation) on investments” in the Statement of Operations. |
(f) | Includes a level 3 security valued at $0. |
See notes to financial statements.
Shares | Value | |||||||||
Common Stocks — 99.6% | ||||||||||
Argentina — 2.1% | ||||||||||
Adecoagro SA* | 25,386 | $ | 281,531 | |||||||
Australia — 10.9% | ||||||||||
Australian Agricultural Co., Ltd.*(a) | 80,027 | 103,238 | ||||||||
Bega Cheese Ltd. | 30,847 | 138,414 | ||||||||
Costa Group Holdings Ltd. | 75,298 | 247,771 | ||||||||
Elders Ltd.* | 25,972 | 86,433 | ||||||||
GrainCorp Ltd., Class A | 53,500 | 356,889 | ||||||||
Inghams Group Ltd. | 46,980 | 109,969 | ||||||||
Nufarm Ltd. | 43,553 | 331,248 | ||||||||
Select Harvests Ltd.(a) | 16,583 | 67,465 | ||||||||
Total Australia | 1,441,427 | |||||||||
Canada — 3.8% | ||||||||||
Maple Leaf Foods, Inc. | 19,887 | 496,993 | ||||||||
China — 3.7% | ||||||||||
China BlueChemical Ltd., Class H | 420,469 | 120,558 | ||||||||
China Greenfresh Group Co. Ltd. | 58,977 | 25,403 | ||||||||
China Huishan Dairy Holdings Co., Ltd.(b)(c) | 938,079 | — | ||||||||
China Modern Dairy Holdings Ltd.* | 587,416 | 126,886 | ||||||||
COFCO Meat Holdings Ltd.* | 186,887 | 40,609 | ||||||||
First Tractor Co., Ltd., Class H | 95,440 | 51,539 | ||||||||
Leyou Technologies Holdings Ltd.* | 352,046 | 72,423 | ||||||||
Sinofert Holdings Ltd. | 418,447 | 55,954 | ||||||||
Total China | 493,372 | |||||||||
Hong Kong — 1.3% | ||||||||||
C.P. Pokphand Co., Ltd. | 1,538,843 | 132,564 | ||||||||
China Green Holdings Ltd.* | 1,489,981 | 6,897 | ||||||||
Tianyi Summi Holdings Ltd. | 177,980 | 25,172 | ||||||||
Total Hong Kong | 164,633 | |||||||||
Indonesia — 5.0% | ||||||||||
PT Astra Agro Lestari Tbk | 92,832 | 100,291 | ||||||||
PT Charoen Pokphand Indonesia Tbk | 1,721,412 | 411,982 | ||||||||
PT Perusahaan Perkebunan London Sumatra Indonesia Tbk | 654,534 | 68,503 | ||||||||
PT Sawit Sumbermas Sarana Tbk | 603,062 | 79,177 | ||||||||
Total Indonesia | 659,953 | |||||||||
Japan — 39.3% | ||||||||||
Feed One Co. Ltd. | 30,874 | 57,333 | ||||||||
Fuji Oil Holdings, Inc. | 13,816 | 323,865 | ||||||||
Iseki & Co., Ltd. | 45,921 | 94,338 | ||||||||
Itoham Yonekyu Holdings, Inc. | 43,039 | 398,073 | ||||||||
Kumiai Chemical Industry Co., Ltd.(a) | 17,200 | 99,216 | ||||||||
Megmilk Snow Brand Co., Ltd. | 12,036 | 359,018 | ||||||||
Morinaga Milk Industry Co., Ltd. | 50,125 | 395,712 | ||||||||
NH Foods Ltd. | 46,636 | 1,326,241 | ||||||||
Nichirei Corp. | 27,493 | 684,427 | ||||||||
Nihon Nohyaku Co., Ltd. | 11,503 | 73,783 | ||||||||
Nippon Soda Co. Ltd. | 30,397 | 164,706 | ||||||||
Nisshin Oillio Group Ltd. (The) | 31,006 | 183,583 | ||||||||
Nisshin Seifun Group, Inc. | 56,853 | 871,641 | ||||||||
Prima Meat Packers Ltd. | 34,094 | 157,211 | ||||||||
Total Japan | 5,189,147 | |||||||||
Netherlands — 2.5% | ||||||||||
OCI NV*(a) | 16,990 | 330,432 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Singapore — 5.5% | ||||||||||
First Resources Ltd. | 114,241 | $ | 153,253 | |||||||
Golden Agri-Resources Ltd. | 1,500,761 | 386,545 | ||||||||
Japfa Ltd. | 66,086 | 28,605 | ||||||||
Olam International Ltd. | 116,426 | 159,100 | ||||||||
Total Singapore | 727,503 | |||||||||
Spain — 2.6% | ||||||||||
Ebro Foods SA | 15,115 | 337,913 | ||||||||
Thailand — 1.2% | ||||||||||
Buriram Sugar PCL* | 21,594 | 9,177 | ||||||||
GFPT PCL | 57,246 | 30,286 | ||||||||
Khon Kaen Sugar Industry PCL | 273,443 | 42,689 | ||||||||
Thai Vegetable Oil PCL | 56,022 | 59,116 | ||||||||
Thaifoods Group PCL* | 58,827 | 10,714 | ||||||||
Total Thailand | 151,982 | |||||||||
United Kingdom — 1.8% | ||||||||||
Dairy Crest Group PLC | 32,457 | 241,030 | ||||||||
United States — 19.9% | ||||||||||
AGCO Corp. | 15,672 | 1,002,851 | ||||||||
Cal-Maine Foods, Inc.*(a) | 6,750 | 254,813 | ||||||||
CVR Partners LP(a) | 13,842 | 67,964 | ||||||||
Platform Specialty Products Corp.* | 45,495 | 644,664 | ||||||||
Sanderson Farms, Inc.(a) | 4,698 | 543,935 | ||||||||
Titan International, Inc.(a) | 10,362 | 110,977 | ||||||||
Total United States | 2,625,204 | |||||||||
Total Common Stocks (Cost $11,199,053) | 13,141,120 | |||||||||
Investment of Cash Collateral For Securities Loaned — 3.8% | ||||||||||
Money Market Fund — 3.8% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(d) (Cost $500,300) | 500,300 | 500,300 | ||||||||
Total Investments — 103.4% (Cost $11,699,353) | 13,641,420 | |||||||||
Other Assets and Liabilities, Net — (3.4)% | (446,005 | ) | ||||||||
Net Assets — 100.0% | $ | 13,195,415 |
* | Non-income producing securities. |
(a) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $1,211,586; total market value of collateral held by the Fund was $1,252,936. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $752,636. |
(b) | Securities have been deemed illiquid because they may not be able to be resold within seven days at approximately the price shown. At April 30, 2017, the value of this security was $0. |
(c) | Security fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. |
(d) | Reflects the 1-day yield at April 30, 2017. |
See notes to financial statements.
Schedules of Investments — IQ Global Agribusiness Small Cap ETF (continued)
April 30, 2017
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(e) | ||||||||||||||||||
Common Stocks | $ | 13,141,120 | $ | — | $ | — | (f) | $ | 13,141,120 | |||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 500,300 | — | — | 500,300 | ||||||||||||||
Total Investments in Securities | $ | 13,641,420 | $ | — | $ | — | $ | 13,641,420 |
(e) | For a complete listing of investments and their countries, see the Schedules of Investments. |
(f) | The Level 3 security, valued at $0 has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees. |
Investments in Securities | Balance as of April 30, 2016 | Accrued Discounts (Premiums) | Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Purchases | Sales | Transfers into Level 3 | Transfers out of Level 3 | Balance as of April 30, 2017 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2017(g) | ||||||||||||||||||||||||||||||||
Common Stock: | ||||||||||||||||||||||||||||||||||||||||||
China Huishan Dairy Holdings Co., Ltd.(h) | $ | — | $ | — | $ | 1,301 | $ | (353,038 | ) | $ | 59,768 | $ | (69,615 | ) | $ | 361,584 | $ | — | $ | — | (i) | $ | (353,038 | ) | ||||||||||||||||||
Total | $ | — | $ | — | $ | 1,301 | $ | (353,038 | ) | $ | 59,768 | $ | (69,615 | ) | $ | 361,584 | $ | — | $ | — | $ | (353,038 | ) |
Security Type | Fair Value | Valuation Technique | Unobservable Inputs | |||||||
Common Stock | $ | — | Issue Specific Facts | Company Announcements |
(g) | Included in “Net change in unrealized appreciation (depreciation) on investments” in the Statement of Operations. |
(h) | Security has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees. |
(i) | Includes a level 3 security valued at $0. |
See notes to financial statements.
Shares | Value | |||||||||
Common Stocks — 99.7% | ||||||||||
Canada — 12.1% | ||||||||||
Baytex Energy Corp.* | 7,739 | $ | 23,376 | |||||||
Canadian Energy Services & Technology Corp. | 8,416 | 39,701 | ||||||||
Canyon Services Group, Inc.* | 2,830 | 13,102 | ||||||||
Cardinal Energy Ltd. | 2,326 | 10,921 | ||||||||
Ensign Energy Services, Inc. | 4,214 | 23,392 | ||||||||
Gibson Energy, Inc. | 4,725 | 63,965 | ||||||||
MEG Energy Corp.*(a) | 7,536 | 34,062 | ||||||||
Mullen Group Ltd. | 3,357 | 36,754 | ||||||||
Pengrowth Energy Corp.* | 14,653 | 14,039 | ||||||||
Penn West Petroleum Ltd.* | 16,777 | 25,154 | ||||||||
Sunshine Oilsands Ltd.* | 83,100 | 2,992 | ||||||||
TORC Oil & Gas Ltd. | 5,880 | 25,545 | ||||||||
Trinidad Drilling Ltd.* | 8,927 | 13,972 | ||||||||
Total Canada | 326,975 | |||||||||
China — 5.0% | ||||||||||
China Oilfield Services Ltd., Class H | 60,916 | 56,236 | ||||||||
Sinopec Oilfield Service Corp., Class H* | 70,538 | 12,334 | ||||||||
Sinopec Shanghai Petrochemical Co., Ltd., Class H | 117,555 | 65,749 | ||||||||
Total China | 134,319 | |||||||||
France — 0.2% | ||||||||||
Etablissements Maurel et Prom* | 1,600 | 6,046 | ||||||||
Indonesia — 0.4% | ||||||||||
PT Elnusa Tbk | 107,668 | 3,053 | ||||||||
PT Energi Mega Persada Tbk* | 1,662,867 | 6,238 | ||||||||
Total Indonesia | 9,291 | |||||||||
Italy — 1.2% | ||||||||||
Saras SpA | 15,339 | 32,037 | ||||||||
Japan — 4.0% | ||||||||||
Cosmo Energy Holdings Co., Ltd. | 2,662 | 42,197 | ||||||||
Fuji Oil Co. Ltd. | 1,471 | 4,738 | ||||||||
Showa Shell Sekiyu K.K. | 6,273 | 60,608 | ||||||||
Total Japan | 107,543 | |||||||||
Norway — 2.1% | ||||||||||
Aker Solutions ASA* | 4,158 | 23,783 | ||||||||
DNO ASA*(a) | 21,450 | 18,179 | ||||||||
Fred Olsen Energy ASA* | 1,006 | 2,372 | ||||||||
Songa Offshore* | 3,458 | 12,110 | ||||||||
Total Norway | 56,444 | |||||||||
Spain — 1.5% | ||||||||||
Tecnicas Reunidas SA | 1,051 | 41,602 | ||||||||
Thailand — 5.5% | ||||||||||
Bangchak Corp. PCL | 30,715 | 28,415 | ||||||||
IRPC PCL | 354,366 | 57,371 | ||||||||
Star Petroleum Refining PCL‡ | 32,604 | 12,442 | ||||||||
Thai Oil PCL | 21,844 | 49,258 | ||||||||
Total Thailand | 147,486 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
United Kingdom — 10.0% | ||||||||||
Genel Energy PLC* | 4,465 | $ | 4,492 | |||||||
Subsea 7 SA | 8,490 | 140,732 | ||||||||
Tullow Oil PLC*(a) | 45,984 | 124,873 | ||||||||
Total United Kingdom | 270,097 | |||||||||
United States — 57.7% | ||||||||||
Alon USA Energy, Inc. | 893 | 10,796 | ||||||||
Alon USA Partners LP(a) | 316 | 2,933 | ||||||||
Basic Energy Services, Inc.* | 716 | 19,454 | ||||||||
California Resources Corp.*(a) | 1,057 | 12,367 | ||||||||
CVR Energy, Inc. | 437 | 9,566 | ||||||||
CVR Refining LP*(a) | 3,967 | 39,868 | ||||||||
Delek US Holdings, Inc.(a) | 1,533 | 36,899 | ||||||||
Denbury Resources, Inc.*(a) | 11,010 | 24,442 | ||||||||
Diamond Offshore Drilling, Inc.*(a) | 1,790 | 25,812 | ||||||||
Ensco PLC, Class A | 8,405 | 66,316 | ||||||||
EP Energy Corp., Class A*(a) | 1,039 | 4,696 | ||||||||
Extraction Oil & Gas, Inc.*(a) | 1,763 | 27,591 | ||||||||
Fairmount Santrol Holdings, Inc.*(a) | 4,266 | 22,013 | ||||||||
Gulfport Energy Corp.* | 3,586 | 56,946 | ||||||||
Halcon Resources Corp.*(a) | 1,560 | 10,452 | ||||||||
Independence Contract Drilling, Inc.*(a) | 875 | 4,034 | ||||||||
Jagged Peak Energy, Inc.*(a) | 836 | 9,313 | ||||||||
Keane Group, Inc.*(a) | 861 | 11,899 | ||||||||
Kosmos Energy Ltd.*(a) | 5,223 | 31,390 | ||||||||
Legacy Reserves LP* | 1,790 | 3,723 | ||||||||
Mammoth Energy Services, Inc.* | 207 | 3,995 | ||||||||
Nabors Industries Ltd. | 7,671 | 79,318 | ||||||||
Noble Corp. PLC | 6,752 | 32,410 | ||||||||
NOW, Inc.* | 2,953 | 50,231 | ||||||||
Oasis Petroleum, Inc.* | 6,476 | 77,323 | ||||||||
Oceaneering International, Inc. | 2,707 | 71,438 | ||||||||
Oil States International, Inc.* | 1,403 | 41,739 | ||||||||
Par Pacific Holdings, Inc.*(a) | 888 | 14,537 | ||||||||
PBF Energy, Inc., Class A(a) | 3,026 | 67,540 | ||||||||
Pioneer Energy Services Corp.* | 2,108 | 6,429 | ||||||||
Resolute Energy Corp.*(a) | 508 | 19,025 | ||||||||
Rowan Cos. PLC, Class A* | 3,437 | 48,359 | ||||||||
RPC, Inc.(a) | 1,690 | 30,707 | ||||||||
Sanchez Energy Corp.*(a) | 1,877 | 14,528 | ||||||||
SemGroup Corp., Class A(a) | 1,829 | 60,906 | ||||||||
Shell Midstream Partners LP | 2,465 | 78,954 | ||||||||
SM Energy Co. | 3,077 | 69,509 | ||||||||
SRC Energy, Inc.*(a) | 5,293 | 39,909 | ||||||||
Superior Energy Services, Inc.* | 4,192 | 50,639 | ||||||||
Tallgrass Energy Partners LP | 1,278 | 65,561 | ||||||||
Tesco Corp.* | 1,202 | 7,873 | ||||||||
Tesoro Logistics LP | 2,059 | 112,957 | ||||||||
Western Refining, Inc. | 2,335 | 80,534 | ||||||||
Total United States | 1,554,931 | |||||||||
Total Common Stocks (Cost $2,956,255) | 2,686,771 |
See notes to financial statements.
Schedules of Investments — IQ Global Oil Small Cap ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Investment of Cash Collateral For Securities Loaned — 23.9% | ||||||||||
Money Market Fund — 23.9% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(b) (Cost $644,567) | 644,567 | $ | 644,567 | |||||||
Total Investments — 123.6% (Cost $3,600,822) | 3,331,338 | |||||||||
Other Assets and Liabilities, Net — (23.6)% | (635,957 | ) | ||||||||
Net Assets — 100.0% | $ | 2,695,381 |
‡ | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold except to qualified institutional buyers. Unless otherwise noted, 144A securities are deemed to be liquid. |
* | Non-income producing securities. |
(a) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $619,533; total market value of collateral held by the Fund was $644,567. |
(b) | Reflects the 1-day yield at April 30, 2017. |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(c) | ||||||||||||||||||
Common Stocks | $ | 2,686,771 | $ | — | $ | — | $ | 2,686,771 | ||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 644,567 | — | — | 644,567 | ||||||||||||||
Total Investments in Securities | $ | 3,331,338 | $ | — | $ | — | $ | 3,331,338 |
(c) | For a complete listing of investments and their countries, see the Schedules of Investments. |
Investments in Securities | Balance as of April 30, 2016 | Accrued Discounts (Premiums) | Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Purchases | Sales | Transfers into Level 3 | Transfers out of Level 3 | Balance as of April 30, 2017 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2017(d) | |||||||||||||||||||||||||||||||||
Common Stock: | |||||||||||||||||||||||||||||||||||||||||||
Pacific Exploration and Production Corp | $ | — | (e) | $ | — | $ | — | $ | — | $ | — | $ | — | (e) | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Total | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — |
(d) | Included in “Net change in unrealized appreciation (depreciation) on investments” in the Statement of Operations. |
(e) | Includes a level 3 security valued at $0. |
See notes to financial statements.
Shares | Value | |||||||||
Common Stocks — 99.7% | ||||||||||
Diversified REITs — 15.9% | ||||||||||
Cousins Properties, Inc.(a) | 490,618 | $ | 4,165,347 | |||||||
Empire State Realty Trust, Inc., Class A(a) | 183,884 | 3,824,787 | ||||||||
Investors Real Estate Trust(a) | 141,964 | 839,007 | ||||||||
Kennedy-Wilson Holdings, Inc.(a) | 111,557 | 2,275,763 | ||||||||
Monmouth Real Estate Investment Corp. | 77,481 | 1,162,215 | ||||||||
New Senior Investment Group, Inc. | 95,044 | 990,358 | ||||||||
Redwood Trust, Inc. | 88,953 | 1,518,428 | ||||||||
Resource Capital Corp. | 34,247 | 320,209 | ||||||||
Washington Real Estate Investment Trust(a) | 87,713 | 2,777,871 | ||||||||
Winthrop Realty Trust*(a)(b)(c) | 29,107 | 227,908 | ||||||||
Total Diversified REITs | 18,101,893 | |||||||||
Hotel REITs — 13.7% | ||||||||||
Ashford Hospitality Prime, Inc. | 35,783 | 378,942 | ||||||||
Ashford Hospitality Trust, Inc. | 96,047 | 600,294 | ||||||||
Chesapeake Lodging Trust | 69,346 | 1,616,455 | ||||||||
DiamondRock Hospitality Co.(a) | 233,458 | 2,570,373 | ||||||||
FelCor Lodging Trust, Inc. | 151,296 | 1,172,544 | ||||||||
Hersha Hospitality Trust(a) | 47,900 | 883,276 | ||||||||
MGM Growth Properties LLC, Class A(a) | 68,097 | 1,948,936 | ||||||||
Pebblebrook Hotel Trust(a) | 83,890 | 2,496,567 | ||||||||
Summit Hotel Properties, Inc.(a) | 108,815 | 1,798,712 | ||||||||
Xenia Hotels & Resorts, Inc. | 126,466 | 2,208,096 | ||||||||
Total Hotel REITs | 15,674,195 | |||||||||
Mortgage REITs — 12.9% | ||||||||||
AG Mortgage Investment Trust, Inc. | 32,339 | 612,824 | ||||||||
Altisource Residential Corp. | 54,529 | 784,127 | ||||||||
Anworth Mortgage Asset Corp. | 111,196 | 651,609 | ||||||||
Apollo Commercial Real Estate Finance, Inc.(a) | 107,487 | 2,073,424 | ||||||||
Ares Commercial Real Estate Corp. | 30,289 | 418,897 | ||||||||
ARMOUR Residential REIT, Inc.(a) | 42,838 | 1,031,111 | ||||||||
Capstead Mortgage Corp.(a) | 111,815 | 1,245,619 | ||||||||
Dynex Capital, Inc. | 54,621 | 377,977 | ||||||||
Invesco Mortgage Capital, Inc. | 131,673 | 2,147,587 | ||||||||
iStar, Inc.* | 81,475 | 996,439 | ||||||||
MTGE Investment Corp. | 53,399 | 961,182 | ||||||||
New York Mortgage Trust, Inc.(a) | 130,619 | 837,268 | ||||||||
Orchid Island Capital, Inc.(a) | 37,043 | 392,656 | ||||||||
PennyMac Mortgage Investment Trust | 75,474 | 1,349,475 | ||||||||
RAIT Financial Trust | 106,661 | 327,449 | ||||||||
Western Asset Mortgage Capital Corp.(a) | 47,850 | 503,860 | ||||||||
Total Mortgage REITs | 14,711,504 | |||||||||
Office REITs — 20.0% | ||||||||||
Brandywine Realty Trust | 204,497 | 3,470,314 | ||||||||
Easterly Government Properties, Inc.(a) | 43,294 | 871,076 | ||||||||
First Industrial Realty Trust, Inc. | 136,489 | 3,840,800 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Office REITs (continued) | ||||||||||
First Potomac Realty Trust | 67,312 | $ | 740,432 | |||||||
Franklin Street Properties Corp.(a) | 122,530 | 1,486,289 | ||||||||
Global Net Lease, Inc. | 78,396 | 1,852,497 | ||||||||
Government Properties Income Trust(a) | 82,040 | 1,749,093 | ||||||||
Lexington Realty Trust | 220,601 | 2,243,512 | ||||||||
Mack-Cali Realty Corp. | 95,737 | 2,589,686 | ||||||||
Parkway, Inc. | 50,071 | 1,008,931 | ||||||||
Rexford Industrial Realty, Inc. | 78,306 | 1,952,952 | ||||||||
Tier REIT, Inc.(a) | 55,872 | 967,144 | ||||||||
Total Office REITs | 22,772,726 | |||||||||
Residential REITs — 6.1% | ||||||||||
Education Realty Trust, Inc. | 86,187 | 3,341,470 | ||||||||
Independence Realty Trust, Inc. | 81,303 | 747,987 | ||||||||
Monogram Residential Trust, Inc. | 196,215 | 1,997,469 | ||||||||
Silver Bay Realty Trust Corp. | 37,916 | 812,540 | ||||||||
Total Residential REITs | 6,899,466 | |||||||||
Retail REITs — 14.9% | ||||||||||
Acadia Realty Trust | 98,054 | 2,851,410 | ||||||||
CBL & Associates Properties, Inc.(a) | 197,644 | 1,828,207 | ||||||||
Cedar Realty Trust, Inc. | 96,617 | 519,800 | ||||||||
Four Corners Property Trust, Inc. | 70,828 | 1,652,417 | ||||||||
Kite Realty Group Trust(a) | 98,480 | 2,005,053 | ||||||||
Pennsylvania Real Estate Investment Trust(a) | 79,966 | 1,107,529 | ||||||||
Ramco-Gershenson Properties Trust | 92,083 | 1,227,466 | ||||||||
Retail Opportunity Investments Corp.(a) | 126,900 | 2,614,140 | ||||||||
Seritage Growth Properties, Class A(a) | 29,407 | 1,220,391 | ||||||||
Washington Prime Group, Inc.(a) | 217,956 | 1,918,013 | ||||||||
Total Retail REITs | 16,944,426 | |||||||||
Specialized REITs — 16.2% | ||||||||||
Care Capital Properties, Inc. | 98,768 | 2,653,896 | ||||||||
CareTrust REIT, Inc. | 77,072 | 1,311,765 | ||||||||
InfraREIT, Inc. | 41,047 | 783,998 | ||||||||
MedEquities Realty Trust, Inc. | 31,877 | 376,786 | ||||||||
National Storage Affiliates Trust(a) | 50,606 | 1,239,847 | ||||||||
Physicians Realty Trust | 159,592 | 3,134,387 | ||||||||
QTS Realty Trust, Inc., Class A | 46,932 | 2,508,046 | ||||||||
Quality Care Properties, Inc.*(a) | 110,836 | 1,923,005 | ||||||||
Sabra Health Care REIT, Inc.(a) | 75,103 | 2,042,051 | ||||||||
STAG Industrial, Inc. | 96,865 | 2,553,361 | ||||||||
Total Specialized REITs | 18,527,142 | |||||||||
Total Common Stocks (Cost $109,930,947) | 113,631,352 | |||||||||
Short-Term Investment — 0.3% | ||||||||||
Money Market Fund — 0.3% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 0.61%(d) (Cost $317,724) | 317,724 | 317,724 |
See notes to financial statements.
Schedules of Investments — IQ U.S. Real Estate Small Cap ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Investment of Cash Collateral For Securities Loaned — 8.7% | ||||||||||
Money Market Fund — 8.7% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(e) (Cost $9,870,960) | 9,870,960 | $ | 9,870,960 | |||||||
Total Investments — 108.7% (Cost $120,119,631) | 123,820,036 | |||||||||
Other Assets and Liabilities, Net — (8.7)% | (9,819,314 | ) | ||||||||
Net Assets — 100.0% | $ | 114,000,722 |
* | Non-income producing securities. |
(a) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $33,816,125; total market value of collateral held by the Fund was $35,470,192. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $25,599,232. |
(b) | Security has been deemed illiquid because it may not be able to be resold within seven days at approximately the price shown. At April 30, 2017, the value of this security was $227,908. |
(c) | Security fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. |
(d) | Reflects the 7-day yield at April 30, 2017. |
(e) | Reflects the 1-day yield at April 30, 2017. |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(f) | ||||||||||||||||||
Common Stocks | $ | 113,403,444 | $ | — | $ | 227,908 | (g) | $ | 113,631,352 | |||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 317,724 | — | — | 317,724 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 9,870,960 | — | — | 9,870,960 | ||||||||||||||
Total Investments in Securities | $ | 123,592,128 | $ | — | $ | 227,908 | $ | 123,820,036 |
(f) | For a complete listing of investments and their industries, see the Schedules of Investments. |
(g) | The Level 3 security, valued at $227,908, has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees. |
Investments in Securities | Balance as of April 30, 2016 | Accrued Discounts (Premiums) | Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Purchases | Sales | Transfers into Level 3 | Transfers out of Level 3 | Balance as of April 30, 2017 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2017(h) | ||||||||||||||||||||||||||||||||
Common Stock: | ||||||||||||||||||||||||||||||||||||||||||
Winthrop Realty Trust(i) | $ | — | $ | — | $ | (7,579 | ) | $ | 3,116 | $ | 49,778 | $ | (188,259 | ) | $ | 370,852 | $ | — | $ | 227,908 | $ | 3,116 | ||||||||||||||||||||
Total | $ | — | $ | — | $ | (7,579 | ) | $ | 3,116 | $ | 49,778 | $ | (188,259 | ) | $ | 370,852 | $ | — | $ | 227,908 | $ | 3,116 |
Security Type | Fair Value | Valuation Technique | Unobservable Inputs | |||||||
Common Stock | $ | 227,908 | Issue Specific Facts | Company Announcements |
(h) | Included in “Net change in unrealized appreciation (depreciation) on investments” in the Statement of Operations. |
(i) | Security has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees. |
See notes to financial statements.
Shares | Value | |||||||||
Common Stocks — 99.1% | ||||||||||
Australia — 7.1% | ||||||||||
AGL Energy Ltd. | 10,656 | $ | 213,253 | |||||||
Alumina Ltd.(a) | 49,605 | 68,259 | ||||||||
Amcor Ltd. | 18,365 | 215,765 | ||||||||
AMP Ltd. | 45,941 | 184,153 | ||||||||
APA Group | 18,804 | 128,813 | ||||||||
Aristocrat Leisure Ltd. | 11,390 | 167,294 | ||||||||
ASX Ltd. | 4,504 | 170,841 | ||||||||
Aurizon Holdings Ltd. | 34,032 | 131,072 | ||||||||
Australia & New Zealand Banking Group Ltd. | 40,610 | 994,927 | ||||||||
Bank of Queensland Ltd. | 9,803 | 87,754 | ||||||||
Bendigo & Adelaide Bank Ltd. | 10,612 | 97,774 | ||||||||
BHP Billiton Ltd. | 46,396 | 823,019 | ||||||||
BHP Billiton PLC(b) | 30,809 | 468,345 | ||||||||
BlueScope Steel Ltd. | 7,992 | 69,929 | ||||||||
Boral Ltd. | 25,378 | 116,910 | ||||||||
Brambles Ltd. | 25,395 | 196,374 | ||||||||
Caltex Australia Ltd. | 4,776 | 106,688 | ||||||||
Challenger Ltd. | 14,332 | 141,694 | ||||||||
Coca-Cola Amatil Ltd. | 14,002 | 98,117 | ||||||||
Commonwealth Bank of Australia | 24,622 | 1,609,345 | ||||||||
Computershare Ltd. | 10,761 | 118,622 | ||||||||
CSL Ltd. | 6,898 | 683,781 | ||||||||
Dexus Property Group | 19,512 | 148,839 | ||||||||
Fortescue Metals Group Ltd. | 23,086 | 91,676 | ||||||||
Goodman Group | 29,762 | 180,508 | ||||||||
GPT Group (The) | 35,481 | 139,306 | ||||||||
Incitec Pivot Ltd. | 33,999 | 96,365 | ||||||||
Insurance Australia Group Ltd. | 41,585 | 193,127 | ||||||||
Macquarie Group Ltd. | 4,725 | 328,624 | ||||||||
Medibank Pvt Ltd. | 54,995 | 119,683 | ||||||||
Mirvac Group | 73,610 | 124,962 | ||||||||
National Australia Bank Ltd. | 37,741 | 959,636 | ||||||||
Newcrest Mining Ltd. | 11,361 | 179,782 | ||||||||
Oil Search Ltd. | 22,242 | 120,095 | ||||||||
Orica Ltd. | 7,317 | 101,397 | ||||||||
Origin Energy Ltd.* | 28,640 | 153,784 | ||||||||
QBE Insurance Group Ltd. | 21,463 | 206,578 | ||||||||
Ramsay Health Care Ltd. | 2,317 | 124,240 | ||||||||
Santos Ltd.* | 37,173 | 96,743 | ||||||||
Scentre Group | 77,436 | 249,594 | ||||||||
SEEK Ltd. | 8,267 | 105,349 | ||||||||
Sonic Healthcare Ltd. | 7,719 | 127,518 | ||||||||
South32 Ltd. | 79,693 | 165,684 | ||||||||
Stockland | 43,041 | 156,113 | ||||||||
Suncorp Group Ltd. | 21,320 | 220,029 | ||||||||
Sydney Airport | 22,009 | 113,405 | ||||||||
Tatts Group Ltd. | 28,636 | 92,086 | ||||||||
Telstra Corp. Ltd. | 57,620 | 181,844 | ||||||||
Transurban Group | 30,965 | 282,517 | ||||||||
Treasury Wine Estates Ltd. | 13,744 | 123,341 | ||||||||
Vicinity Centres | 55,077 | 118,625 | ||||||||
Wesfarmers Ltd. | 16,097 | 517,640 | ||||||||
Westfield Corp. | 30,728 | 208,658 | ||||||||
Westpac Banking Corp. | 47,156 | 1,236,412 | ||||||||
Woodside Petroleum Ltd. | 12,055 | 290,113 | ||||||||
Woolworths Ltd. | 19,524 | 392,475 | ||||||||
Total Australia | 14,839,477 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Austria — 0.2% | ||||||||||
ANDRITZ AG | 1,783 | $ | 98,575 | |||||||
Erste Group Bank AG* | 5,240 | 187,274 | ||||||||
OMV AG | 3,293 | 151,594 | ||||||||
Total Austria | 437,443 | |||||||||
Belgium — 1.2% | ||||||||||
Ageas | 3,457 | 141,545 | ||||||||
Anheuser-Busch InBev SA/NV(a) | 11,313 | 1,273,814 | ||||||||
Groupe Bruxelles Lambert SA(a) | 1,643 | 157,463 | ||||||||
KBC Group NV | 4,111 | 296,714 | ||||||||
Proximus SA(a) | 2,705 | 82,727 | ||||||||
Solvay SA | 1,284 | 163,241 | ||||||||
UCB SA | 2,061 | 160,604 | ||||||||
Umicore SA | 2,142 | 125,374 | ||||||||
Total Belgium | 2,401,482 | |||||||||
Chile — 0.0%(c) | ||||||||||
Antofagasta PLC | 4,130 | 44,776 | ||||||||
China — 0.3% | ||||||||||
AAC Technologies Holdings, Inc. | 12,230 | 179,577 | ||||||||
BOC Hong Kong Holdings Ltd. | 59,183 | 243,503 | ||||||||
China Mengniu Dairy Co. Ltd. | 42,063 | 81,448 | ||||||||
Want Want China Holdings Ltd. | 124,172 | 89,406 | ||||||||
Total China | 593,934 | |||||||||
Denmark — 1.6% | ||||||||||
AP Moller — Maersk A/S, Class A(a) | 66 | 109,488 | ||||||||
AP Moller — Maersk A/S, Class B | 89 | 153,898 | ||||||||
Carlsberg A/S, Class B | 1,733 | 172,924 | ||||||||
Chr Hansen Holding A/S | 1,854 | 124,925 | ||||||||
Coloplast A/S, Class B | 1,852 | 158,496 | ||||||||
Danske Bank A/S | 10,930 | 396,884 | ||||||||
DSV A/S | 3,274 | 182,352 | ||||||||
Genmab A/S* | 1,011 | 201,022 | ||||||||
ISS A/S | 3,218 | 133,435 | ||||||||
Novo Nordisk A/S, Class B | 26,462 | 1,029,452 | ||||||||
Novozymes A/S, Class B | 3,593 | 155,193 | ||||||||
Pandora A/S | 1,657 | 179,049 | ||||||||
Vestas Wind Systems A/S | 3,494 | 300,810 | ||||||||
Total Denmark | 3,297,928 | |||||||||
Finland — 1.0% | ||||||||||
Elisa OYJ | 2,476 | 84,311 | ||||||||
Fortum OYJ | 6,826 | 99,307 | ||||||||
Kone OYJ, Class B | 5,484 | 251,174 | ||||||||
Neste OYJ | 1,720 | 70,219 | ||||||||
Nokia OYJ | 83,853 | 479,387 | ||||||||
Nokian Renkaat OYJ | 2,561 | 110,158 | ||||||||
Orion OYJ, Class B | 2,036 | 116,730 | ||||||||
Sampo OYJ, Class A | 6,772 | 324,398 | ||||||||
Stora Enso OYJ, Class R | 10,234 | 121,696 | ||||||||
UPM-Kymmene OYJ | 8,769 | 231,372 | ||||||||
Wartsila OYJ Abp | 2,725 | 165,877 | ||||||||
Total Finland | 2,054,629 | |||||||||
France — 9.2% | ||||||||||
Accor SA* | 3,365 | 153,333 | ||||||||
Air Liquide SA | 5,667 | 682,521 | ||||||||
Airbus SE(a) | 8,120 | 656,362 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
France (continued) | ||||||||||
Alstom SA* | 2,909 | $ | 92,340 | |||||||
Arkema SA | 1,390 | 147,141 | ||||||||
Atos SE | 1,545 | 202,396 | ||||||||
AXA SA | 26,879 | 717,405 | ||||||||
BNP Paribas SA | 14,092 | 994,080 | ||||||||
Bouygues SA* | 3,322 | 139,617 | ||||||||
Bureau Veritas SA(a) | 5,017 | 116,176 | ||||||||
Cap Gemini SA | 2,317 | 231,873 | ||||||||
Carrefour SA | 8,261 | 194,534 | ||||||||
Casino Guichard Perrachon SA | 1,079 | 64,976 | ||||||||
Christian Dior SE | 734 | 201,381 | ||||||||
Cie de Saint-Gobain | 7,213 | 389,195 | ||||||||
Cie Generale des Etablissements Michelin | 2,899 | 378,666 | ||||||||
Credit Agricole SA | 15,883 | 236,087 | ||||||||
Danone SA | 7,960 | 556,315 | ||||||||
Dassault Systemes SE | 2,080 | 185,573 | ||||||||
Edenred | 5,102 | 130,590 | ||||||||
Engie SA | 22,344 | 315,093 | ||||||||
Essilor International SA | 2,973 | 385,094 | ||||||||
Eutelsat Communications SA | 3,519 | 83,270 | ||||||||
Groupe Eurotunnel SE | 8,116 | 89,130 | ||||||||
Hermes International | 364 | 174,089 | ||||||||
Iliad SA | 424 | 102,916 | ||||||||
Ingenico Group SA | 961 | 87,046 | ||||||||
Ipsen SA | 566 | 65,856 | ||||||||
JCDecaux SA | 1,727 | 60,904 | ||||||||
Kering | 1,180 | 365,636 | ||||||||
Klepierre | 3,490 | 136,968 | ||||||||
Legrand SA | 4,380 | 283,457 | ||||||||
L’Oreal SA | 3,415 | 679,976 | ||||||||
LVMH Moet Hennessy Louis Vuitton SE | 3,614 | 891,383 | ||||||||
Natixis SA | 14,393 | 100,105 | ||||||||
Orange SA | 26,652 | 412,122 | ||||||||
Pernod Ricard SA | 2,952 | 369,194 | ||||||||
Peugeot SA* | 6,022 | 126,136 | ||||||||
Publicis Groupe SA | 3,256 | 234,968 | ||||||||
Renault SA | 2,630 | 245,182 | ||||||||
Rexel SA | 6,327 | 112,992 | ||||||||
Safran SA | 4,203 | 347,933 | ||||||||
Sanofi | 16,231 | 1,530,810 | ||||||||
Schneider Electric SE | 8,084 | 638,223 | ||||||||
SCOR SE* | 3,153 | 124,703 | ||||||||
SFR Group SA* | 1,681 | 55,026 | ||||||||
Societe BIC SA | 545 | 61,247 | ||||||||
Societe Generale SA | 10,580 | 578,474 | ||||||||
Sodexo SA | 1,227 | 155,928 | ||||||||
Suez | 5,424 | 89,099 | ||||||||
Teleperformance | 961 | 120,712 | ||||||||
Thales SA | 1,749 | 183,829 | ||||||||
TOTAL SA | 31,559 | 1,621,052 | ||||||||
Unibail-Rodamco SE | 1,469 | 360,645 | ||||||||
Valeo SA | 3,800 | 273,109 | ||||||||
Veolia Environnement SA | 7,324 | 139,092 | ||||||||
Vinci SA | 6,916 | 588,185 | ||||||||
Vivendi SA* | 16,440 | 326,091 | ||||||||
Zodiac Aerospace | 3,754 | 91,120 | ||||||||
Total France | 19,077,356 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Germany — 8.4% | ||||||||||
adidas AG | 3,064 | $ | 613,590 | |||||||
Allianz SE | 6,309 | 1,200,908 | ||||||||
BASF SE | 13,444 | 1,309,680 | ||||||||
Bayer AG | 12,003 | 1,484,827 | ||||||||
Bayerische Motoren Werke AG | 4,978 | 475,132 | ||||||||
Beiersdorf AG | 1,749 | 173,964 | ||||||||
Brenntag AG | 2,687 | 159,292 | ||||||||
Commerzbank AG* | 16,021 | 156,927 | ||||||||
Continental AG | 1,554 | 347,753 | ||||||||
Covestro AG‡ | 1,356 | 105,667 | ||||||||
Daimler AG | 14,774 | 1,100,429 | ||||||||
Deutsche Bank AG* | 30,286 | 545,158 | ||||||||
Deutsche Boerse AG | 2,714 | 265,544 | ||||||||
Deutsche Post AG | 13,503 | 485,235 | ||||||||
Deutsche Telekom AG | 45,399 | 795,939 | ||||||||
Deutsche Wohnen AG | 5,551 | 189,745 | ||||||||
E.ON SE | 27,282 | 212,625 | ||||||||
Fresenius Medical Care AG & Co. KGaA | 3,167 | 280,897 | ||||||||
Fresenius SE & Co. KGaA | 6,210 | 503,189 | ||||||||
GEA Group AG | 3,232 | 137,401 | ||||||||
Hannover Rueck SE | 1,007 | 120,733 | ||||||||
HeidelbergCement AG | 2,309 | 213,723 | ||||||||
Henkel AG & Co. KGaA | 1,514 | 176,655 | ||||||||
HUGO BOSS AG | 1,257 | 95,584 | ||||||||
Infineon Technologies AG | 18,110 | 374,697 | ||||||||
K+S AG(a) | 3,307 | 78,883 | ||||||||
LANXESS AG | 1,801 | 130,027 | ||||||||
LEG Immobilien AG* | 895 | 76,858 | ||||||||
Linde AG | 2,746 | 493,243 | ||||||||
Merck KGaA | 1,921 | 225,504 | ||||||||
METRO AG | 2,868 | 94,349 | ||||||||
MTU Aero Engines AG* | 1,082 | 155,116 | ||||||||
Muenchener Rueckversicherungs-Gesellschaft AG | 1,925 | 368,831 | ||||||||
OSRAM Licht AG | 1,599 | 107,068 | ||||||||
ProSiebenSat.1 Media SE | 3,911 | 166,054 | ||||||||
RWE AG* | 8,077 | 133,735 | ||||||||
SAP SE | 12,921 | 1,295,454 | ||||||||
Siemens AG | 10,940 | 1,567,765 | ||||||||
Symrise AG | 2,286 | 159,990 | ||||||||
thyssenkrupp AG | 6,840 | 162,785 | ||||||||
TUI AG | 7,090 | 103,009 | ||||||||
United Internet AG | 2,076 | 95,524 | ||||||||
Volkswagen AG | 387 | 62,350 | ||||||||
Vonovia SE | 6,560 | 237,415 | ||||||||
Wirecard AG(a) | 2,228 | 131,523 | ||||||||
Zalando SE‡* | 2,006 | 88,437 | ||||||||
Total Germany | 17,459,214 | |||||||||
Hong Kong — 3.2% | ||||||||||
AIA Group Ltd. | 176,966 | 1,225,273 | ||||||||
Bank of East Asia Ltd. (The) | 27,319 | 113,104 | ||||||||
Cheung Kong Infrastructure Holdings Ltd. | 13,076 | 114,577 | ||||||||
Cheung Kong Property Holdings Ltd. | 42,796 | 307,040 | ||||||||
CK Hutchison Holdings Ltd. | 42,968 | 536,717 | ||||||||
CLP Holdings Ltd. | 25,100 | 264,795 | ||||||||
Galaxy Entertainment Group Ltd. | 33,926 | 188,876 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Hong Kong (continued) | ||||||||||
Hang Lung Properties Ltd. | 39,269 | $ | 103,000 | |||||||
Hang Seng Bank Ltd. | 12,855 | 260,652 | ||||||||
Henderson Land Development Co. Ltd. | 20,832 | 132,049 | ||||||||
Hong Kong & China Gas Co., Ltd. | 123,161 | 246,083 | ||||||||
Hong Kong Exchanges and Clearing Ltd. | 18,001 | 443,455 | ||||||||
Hongkong Land Holdings Ltd. | 20,865 | 160,869 | ||||||||
Hopewell Holdings Ltd. | 24,935 | 95,219 | ||||||||
Hysan Development Co. Ltd. | 20,570 | 97,064 | ||||||||
Jardine Matheson Holdings Ltd. | 3,190 | 205,850 | ||||||||
Jardine Strategic Holdings Ltd. | 3,795 | 160,415 | ||||||||
Li & Fung Ltd. | 116,454 | 48,812 | ||||||||
Link REIT | 36,957 | 265,861 | ||||||||
MTR Corp. Ltd. | 25,288 | 145,663 | ||||||||
New World Development Co. Ltd. | 105,116 | 130,963 | ||||||||
Power Assets Holdings Ltd. | 22,709 | 204,387 | ||||||||
Sands China Ltd. | 38,781 | 176,015 | ||||||||
Sino Land Co. Ltd. | 63,538 | 107,673 | ||||||||
Sun Hung Kai Properties Ltd. | 21,350 | 320,351 | ||||||||
Swire Pacific Ltd., Class A | 9,994 | 96,245 | ||||||||
Techtronic Industries Co. Ltd. | 29,148 | 125,173 | ||||||||
WH Group Ltd.‡ | 100,724 | 90,007 | ||||||||
Wharf Holdings Ltd. (The) | 19,859 | 169,672 | ||||||||
Wheelock & Co. Ltd. | 16,325 | 127,304 | ||||||||
Yue Yuen Industrial Holdings Ltd. | 19,142 | 75,681 | ||||||||
Total Hong Kong | 6,738,845 | |||||||||
Ireland — 0.6% | ||||||||||
Bank of Ireland* | 411,786 | 103,595 | ||||||||
CRH PLC | 12,056 | 439,692 | ||||||||
James Hardie Industries PLC | 7,217 | 122,355 | ||||||||
Kerry Group PLC, Class A | 2,157 | 176,213 | ||||||||
Kingspan Group PLC | 1,918 | 66,700 | ||||||||
Paddy Power Betfair PLC | 1,215 | 135,184 | ||||||||
Ryanair Holdings PLC* | 1,316 | 22,857 | ||||||||
Smurfit Kappa Group PLC | 3,630 | 96,838 | ||||||||
Total Ireland | 1,163,434 | |||||||||
Israel — 0.5% | ||||||||||
Bank Hapoalim BM | 31,873 | 199,088 | ||||||||
Bank Leumi Le-Israel BM* | 39,753 | 186,149 | ||||||||
Bezeq The Israeli Telecommunication Corp. Ltd. | 56,119 | 94,494 | ||||||||
Nice Ltd. | 1,816 | 124,420 | ||||||||
Teva Pharmaceutical Industries Ltd. | 13,976 | 442,089 | ||||||||
Total Israel | 1,046,240 | |||||||||
Italy — 2.0% | ||||||||||
Assicurazioni Generali SpA | 18,418 | 291,418 | ||||||||
Atlantia SpA | 9,210 | 233,480 | ||||||||
Enel SpA | 111,487 | 529,806 | ||||||||
Eni SpA | 38,074 | 591,644 | ||||||||
Ferrari NV | 1,999 | 150,309 | ||||||||
Intesa Sanpaolo SpA | 188,839 | 549,871 | ||||||||
Leonardo SpA* | 7,805 | 122,644 | ||||||||
Luxottica Group SpA | 2,662 | 154,215 | ||||||||
Mediobanca SpA | 13,457 | 129,322 | ||||||||
Prysmian SpA | 5,482 | 158,255 | ||||||||
Recordati SpA | 2,535 | 93,884 | ||||||||
Snam SpA | 40,868 | 180,594 | ||||||||
Telecom Italia SpA*(a) | 161,924 | 143,707 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Italy (continued) | ||||||||||
Telecom Italia SpA-RSP* | 95,427 | $ | 68,116 | |||||||
Terna Rete Elettrica Nazionale SpA | 28,999 | 146,208 | ||||||||
UniCredit SpA* | 31,480 | 512,145 | ||||||||
Unione di Banche Italiane SpA(a) | 14,950 | 62,938 | ||||||||
Total Italy | 4,118,556 | |||||||||
Japan — 22.9% | ||||||||||
Aeon Co., Ltd. | 11,472 | 170,171 | ||||||||
Air Water, Inc. | 4,939 | 95,085 | ||||||||
Aisin Seiki Co., Ltd. | 3,203 | 156,601 | ||||||||
Ajinomoto Co., Inc. | 8,904 | 173,255 | ||||||||
Alfresa Holdings Corp. | 4,185 | 75,500 | ||||||||
Alps Electric Co., Ltd. | 3,347 | 98,335 | ||||||||
Amada Holdings Co., Ltd. | 9,426 | 111,959 | ||||||||
Aozora Bank Ltd. | 30,166 | 109,872 | ||||||||
Asahi Glass Co., Ltd. | 19,300 | 167,254 | ||||||||
Asahi Group Holdings Ltd. | 6,492 | 244,899 | ||||||||
Asahi Kasei Corp. | 22,660 | 215,989 | ||||||||
Asics Corp. | 3,718 | 65,741 | ||||||||
Astellas Pharma, Inc. | 33,341 | 439,083 | ||||||||
Bandai Namco Holdings, Inc. | 4,165 | 130,588 | ||||||||
Bridgestone Corp. | 9,751 | 406,591 | ||||||||
Brother Industries Ltd. | 5,374 | 110,450 | ||||||||
Canon, Inc. | 15,920 | 527,858 | ||||||||
Casio Computer Co., Ltd. | 4,633 | 65,295 | ||||||||
Central Japan Railway Co.(b) | 2,739 | 459,121 | ||||||||
Chiba Bank Ltd. (The) | 14,004 | 93,720 | ||||||||
Chubu Electric Power Co., Inc. | 11,138 | 149,629 | ||||||||
Chugai Pharmaceutical Co., Ltd. | 3,844 | 136,214 | ||||||||
Chugoku Electric Power Co., Inc. (The) | 5,594 | 60,973 | ||||||||
Concordia Financial Group Ltd. | 22,782 | 104,682 | ||||||||
Credit Saison Co., Ltd. | 3,836 | 69,824 | ||||||||
Dai Nippon Printing Co., Ltd. | 12,433 | 138,306 | ||||||||
Daicel Corp. | 7,054 | 80,937 | ||||||||
Dai-ichi Life Holdings, Inc. | 17,108 | 290,991 | ||||||||
Daiichi Sankyo Co., Ltd. | 11,128 | 246,878 | ||||||||
Daikin Industries Ltd. | 4,262 | 413,888 | ||||||||
Daito Trust Construction Co., Ltd. | 1,256 | 184,789 | ||||||||
Daiwa House Industry Co., Ltd. | 10,049 | 298,486 | ||||||||
Daiwa Securities Group, Inc. | 29,395 | 178,606 | ||||||||
Denso Corp. | 7,277 | 313,289 | ||||||||
Dentsu, Inc. | 3,656 | 205,972 | ||||||||
Don Quijote Holdings Co., Ltd. | 2,180 | 79,499 | ||||||||
East Japan Railway Co. | 5,585 | 498,727 | ||||||||
Eisai Co., Ltd. | 4,274 | 224,378 | ||||||||
Electric Power Development Co., Ltd. | 3,126 | 72,492 | ||||||||
FamilyMart UNY Holdings Co., Ltd. | 1,129 | 63,808 | ||||||||
FANUC Corp. | 2,982 | 606,057 | ||||||||
Fast Retailing Co., Ltd. | 794 | 258,992 | ||||||||
FUJIFILM Holdings Corp. | 6,381 | 236,647 | ||||||||
Fujitsu Ltd. | 32,083 | 199,975 | ||||||||
Fukuoka Financial Group, Inc. | 17,370 | 79,160 | ||||||||
Gunma Bank Ltd. (The) | 11,110 | 59,602 | ||||||||
Hamamatsu Photonics K.K. | 2,082 | 61,169 | ||||||||
Hankyu Hanshin Holdings, Inc. | 4,389 | 144,896 | ||||||||
Hino Motors Ltd. | 6,970 | 87,352 | ||||||||
Hirose Electric Co., Ltd. | 749 | 100,588 | ||||||||
Hisamitsu Pharmaceutical Co., Inc. | 1,263 | 64,583 | ||||||||
Hitachi Ltd. | 70,344 | 388,164 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Japan (continued) | ||||||||||
Honda Motor Co., Ltd.(b) | 26,007 | $ | 754,056 | |||||||
Hoya Corp. | 6,633 | 316,804 | ||||||||
IHI Corp.* | 29,083 | 98,622 | ||||||||
Inpex Corp. | 16,221 | 155,487 | ||||||||
Isetan Mitsukoshi Holdings Ltd. | 6,508 | 71,053 | ||||||||
Isuzu Motors Ltd. | 10,914 | 148,040 | ||||||||
ITOCHU Corp. | 23,038 | 325,719 | ||||||||
Iyo Bank Ltd. (The) | 6,523 | 46,288 | ||||||||
J Front Retailing Co., Ltd. | 4,945 | 71,201 | ||||||||
Japan Exchange Group, Inc. | 9,308 | 130,347 | ||||||||
Japan Tobacco, Inc.(b) | 18,155 | 603,592 | ||||||||
JFE Holdings, Inc. | 8,694 | 148,228 | ||||||||
JGC Corp. | 5,116 | 89,267 | ||||||||
JTEKT Corp. | 4,919 | 77,401 | ||||||||
JXTG Holdings, Inc. | 58,410 | 263,623 | ||||||||
Kajima Corp. | 11,664 | 79,211 | ||||||||
Kansai Electric Power Co., Inc. (The) | 11,785 | 159,325 | ||||||||
Kansai Paint Co., Ltd. | 5,251 | 116,260 | ||||||||
Kao Corp. | 7,834 | 432,075 | ||||||||
Kawasaki Heavy Industries Ltd. | 29,561 | 89,370 | ||||||||
KDDI Corp. | 27,253 | 722,582 | ||||||||
Keikyu Corp. | 10,937 | 125,490 | ||||||||
Keio Corp. | 12,532 | 100,283 | ||||||||
Keisei Electric Railway Co., Ltd. | 3,201 | 76,127 | ||||||||
Keyence Corp. | 1,415 | 568,691 | ||||||||
Kikkoman Corp. | 3,625 | 111,381 | ||||||||
Kintetsu Group Holdings Co., Ltd. | 32,479 | 118,588 | ||||||||
Kirin Holdings Co., Ltd. | 14,303 | 277,925 | ||||||||
Koito Manufacturing Co., Ltd. | 2,417 | 124,677 | ||||||||
Komatsu Ltd. | 15,097 | 402,514 | ||||||||
Konami Holdings Corp. | 1,382 | 57,465 | ||||||||
Konica Minolta, Inc. | 9,380 | 82,886 | ||||||||
Kubota Corp. | 18,398 | 289,331 | ||||||||
Kuraray Co., Ltd. | 8,304 | 133,943 | ||||||||
Kurita Water Industries Ltd. | 3,689 | 95,179 | ||||||||
Kyocera Corp. | 5,100 | 288,697 | ||||||||
Kyowa Hakko Kirin Co., Ltd. | 5,477 | 93,945 | ||||||||
Kyushu Electric Power Co., Inc. | 7,870 | 84,864 | ||||||||
Kyushu Railway Co. | 2,137 | 67,003 | ||||||||
Lawson, Inc. | 1,117 | 74,153 | ||||||||
Lion Corp. | 3,466 | 62,560 | ||||||||
LIXIL Group Corp. | 5,145 | 128,452 | ||||||||
M3, Inc. | 4,119 | 105,275 | ||||||||
Mabuchi Motor Co., Ltd. | 1,297 | 73,187 | ||||||||
Makita Corp. | 4,787 | 170,704 | ||||||||
Marubeni Corp. | 29,760 | 183,253 | ||||||||
Marui Group Co., Ltd. | 4,962 | 67,929 | ||||||||
Mazda Motor Corp. | 9,270 | 135,886 | ||||||||
MEIJI Holdings Co., Ltd. | 2,354 | 199,774 | ||||||||
MINEBEA MITSUMI, Inc. | 6,150 | 88,882 | ||||||||
Miraca Holdings, Inc. | 1,673 | 77,144 | ||||||||
MISUMI Group, Inc. | 5,834 | 110,483 | ||||||||
Mitsubishi Chemical Holdings Corp. | 22,659 | 177,316 | ||||||||
Mitsubishi Corp. | 20,510 | 442,234 | ||||||||
Mitsubishi Electric Corp. | 30,510 | 425,339 | ||||||||
Mitsubishi Estate Co., Ltd. | 18,755 | 358,376 | ||||||||
Mitsubishi Heavy Industries Ltd. | 50,003 | 200,066 | ||||||||
Mitsubishi Materials Corp. | 2,496 | 74,228 | ||||||||
Mitsubishi Motors Corp. | 12,102 | 77,408 | ||||||||
Mitsubishi UFJ Financial Group, Inc.(b) | 196,599 | 1,250,812 | ||||||||
Mitsubishi UFJ Lease & Finance Co., Ltd. | 13,844 | 72,281 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Japan (continued) | ||||||||||
Mitsui & Co., Ltd. | 26,438 | $ | 373,078 | |||||||
Mitsui Chemicals, Inc. | 12,730 | 65,095 | ||||||||
Mitsui Fudosan Co., Ltd. | 14,396 | 316,345 | ||||||||
Mitsui OSK Lines Ltd. | 27,115 | 82,948 | ||||||||
Mizuho Financial Group, Inc. | 353,688 | 646,011 | ||||||||
MS&AD Insurance Group Holdings, Inc. | 8,429 | 274,640 | ||||||||
Murata Manufacturing Co., Ltd. | 2,886 | 386,932 | ||||||||
Nabtesco Corp. | 3,565 | 101,062 | ||||||||
NEC Corp. | 45,980 | 114,259 | ||||||||
NGK Insulators Ltd. | 5,351 | 114,297 | ||||||||
NGK Spark Plug Co., Ltd. | 4,118 | 89,069 | ||||||||
NH Foods Ltd. | 4,605 | 130,958 | ||||||||
Nidec Corp. | 3,723 | 341,339 | ||||||||
Nikon Corp. | 7,741 | 110,417 | ||||||||
Nintendo Co., Ltd. | 1,613 | 405,818 | ||||||||
Nippon Express Co., Ltd. | 15,428 | 84,704 | ||||||||
Nippon Paint Holdings Co., Ltd. | 2,917 | 111,870 | ||||||||
Nippon Shinyaku Co., Ltd. | 1,027 | 54,542 | ||||||||
Nippon Steel & Sumitomo Metal Corp. | 12,608 | 283,954 | ||||||||
Nippon Telegraph & Telephone Corp. | 3,915 | 167,495 | ||||||||
Nippon Yusen K.K.* | 33,869 | 68,060 | ||||||||
Nissan Chemical Industries Ltd. | 3,625 | 112,356 | ||||||||
Nissan Motor Co., Ltd. | 27,363 | 259,834 | ||||||||
Nisshin Seifun Group, Inc. | 6,712 | 102,905 | ||||||||
Nissin Foods Holdings Co., Ltd. | 1,942 | 111,151 | ||||||||
Nitori Holdings Co., Ltd. | 1,335 | 173,776 | ||||||||
Nitto Denko Corp. | 2,666 | 200,638 | ||||||||
Nomura Holdings, Inc. | 53,493 | 321,044 | ||||||||
Nomura Research Institute Ltd. | 2,560 | 89,107 | ||||||||
NSK Ltd. | 8,903 | 121,401 | ||||||||
NTT Data Corp. | 2,393 | 110,988 | ||||||||
NTT DOCOMO, Inc. | 19,389 | 467,549 | ||||||||
Obayashi Corp. | 13,596 | 131,850 | ||||||||
Obic Co., Ltd. | 1,533 | 82,791 | ||||||||
Odakyu Electric Railway Co., Ltd. | 5,986 | 116,101 | ||||||||
Oji Holdings Corp. | 19,447 | 94,034 | ||||||||
Olympus Corp. | 5,210 | 200,510 | ||||||||
Omron Corp. | 3,640 | 152,333 | ||||||||
Ono Pharmaceutical Co., Ltd. | 7,657 | 157,784 | ||||||||
Oriental Land Co., Ltd. | 3,263 | 187,344 | ||||||||
ORIX Corp. | 20,646 | 315,052 | ||||||||
Osaka Gas Co., Ltd. | 32,653 | 122,240 | ||||||||
Otsuka Holdings Co., Ltd. | 7,015 | 322,651 | ||||||||
Panasonic Corp. | 32,085 | 382,965 | ||||||||
Rakuten, Inc. | 12,479 | 127,734 | ||||||||
Recruit Holdings Co., Ltd. | 5,424 | 273,949 | ||||||||
Resona Holdings, Inc. | 38,461 | 213,852 | ||||||||
Ricoh Co., Ltd. | 13,051 | 108,651 | ||||||||
Rohm Co., Ltd. | 1,858 | 130,345 | ||||||||
Ryohin Keikaku Co., Ltd. | 470 | 106,000 | ||||||||
Santen Pharmaceutical Co., Ltd. | 7,818 | 109,902 | ||||||||
SBI Holdings, Inc. | 5,310 | 73,598 | ||||||||
Secom Co., Ltd. | 3,346 | 242,718 | ||||||||
Seibu Holdings, Inc. | 4,830 | 84,320 | ||||||||
Seiko Epson Corp. | 5,605 | 114,644 | ||||||||
Sekisui Chemical Co., Ltd. | 8,388 | 140,716 | ||||||||
Sekisui House Ltd. | 10,150 | 168,408 | ||||||||
Seven & i Holdings Co., Ltd. | 11,647 | 492,127 | ||||||||
Sharp Corp.*(a) | 20,772 | 74,911 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Japan (continued) | ||||||||||
Shimadzu Corp. | 5,948 | $ | 100,850 | |||||||
Shimano, Inc. | 1,340 | 204,721 | ||||||||
Shimizu Corp. | 11,852 | 113,661 | ||||||||
Shin-Etsu Chemical Co., Ltd. | 6,474 | 562,431 | ||||||||
Shinsei Bank Ltd. | 38,242 | 71,359 | ||||||||
Shionogi & Co., Ltd. | 5,016 | 257,977 | ||||||||
Shiseido Co., Ltd. | 6,848 | 185,284 | ||||||||
Shizuoka Bank Ltd. (The) | 10,840 | 91,411 | ||||||||
SMC Corp. | 956 | 269,210 | ||||||||
SoftBank Group Corp. | 12,534 | 949,242 | ||||||||
Sompo Holdings, Inc. | 6,233 | 235,184 | ||||||||
Sony Corp. | 18,381 | 619,846 | ||||||||
Sotetsu Holdings, Inc. | 12,002 | 55,773 | ||||||||
Stanley Electric Co., Ltd. | 3,398 | 99,376 | ||||||||
Start Today Co., Ltd. | 2,289 | 48,873 | ||||||||
Subaru Corp. | 9,316 | 352,014 | ||||||||
Sumitomo Chemical Co., Ltd. | 26,533 | 149,720 | ||||||||
Sumitomo Corp. | 19,239 | 256,905 | ||||||||
Sumitomo Electric Industries Ltd. | 12,810 | 208,750 | ||||||||
Sumitomo Metal Mining Co., Ltd. | 8,433 | 114,349 | ||||||||
Sumitomo Mitsui Financial Group, Inc. | 19,361 | 716,289 | ||||||||
Sumitomo Mitsui Trust Holdings, Inc. | 6,052 | 207,235 | ||||||||
Sumitomo Realty & Development Co., Ltd. | 6,978 | 188,175 | ||||||||
Suntory Beverage & Food Ltd. | 2,482 | 110,996 | ||||||||
Suruga Bank Ltd. | 4,149 | 86,687 | ||||||||
Suzuki Motor Corp. | 6,391 | 266,717 | ||||||||
Sysmex Corp. | 2,475 | 150,538 | ||||||||
T&D Holdings, Inc. | 11,422 | 169,429 | ||||||||
Taiheiyo Cement Corp. | 29,171 | 97,088 | ||||||||
Taisei Corp. | 20,986 | 160,026 | ||||||||
Taisho Pharmaceutical Holdings Co., Ltd. | 1,122 | 92,200 | ||||||||
Takashimaya Co., Ltd. | 8,123 | 74,766 | ||||||||
Takeda Pharmaceutical Co., Ltd. | 11,683 | 559,887 | ||||||||
TDK Corp. | 2,073 | 128,319 | ||||||||
Teijin Ltd. | 4,460 | 86,383 | ||||||||
Terumo Corp. | 5,810 | 211,874 | ||||||||
Tobu Railway Co., Ltd. | 21,101 | 106,953 | ||||||||
Toho Co., Ltd. | 3,104 | 88,968 | ||||||||
Tohoku Electric Power Co., Inc. | 7,919 | 105,568 | ||||||||
Tokio Marine Holdings, Inc. | 10,824 | 455,604 | ||||||||
Tokyo Electric Power Co. Holdings, Inc.* | 24,339 | 94,544 | ||||||||
Tokyo Electron Ltd. | 2,655 | 308,801 | ||||||||
Tokyo Gas Co., Ltd. | 36,328 | 168,653 | ||||||||
Tokyu Corp. | 19,775 | 141,567 | ||||||||
Tokyu Fudosan Holdings Corp. | 10,094 | 55,057 | ||||||||
Toppan Printing Co., Ltd. | 11,472 | 115,368 | ||||||||
Toray Industries, Inc. | 25,418 | 224,856 | ||||||||
Toshiba Corp.*(a) | 60,180 | 121,688 | ||||||||
Tosoh Corp. | 7,134 | 67,007 | ||||||||
TOTO Ltd. | 3,110 | 118,714 | ||||||||
Toyo Suisan Kaisha Ltd. | 2,391 | 89,660 | ||||||||
Toyota Industries Corp. | 2,887 | 143,482 | ||||||||
Toyota Motor Corp.(b) | 38,861 | 2,103,939 | ||||||||
Toyota Tsusho Corp. | 4,268 | 134,583 | ||||||||
Tsuruha Holdings, Inc. | 833 | 84,443 | ||||||||
Unicharm Corp. | 6,777 | 164,668 | ||||||||
USS Co., Ltd. | 5,221 | 92,270 | ||||||||
West Japan Railway Co. | 2,980 | 199,005 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Japan (continued) | ||||||||||
Yahoo Japan Corp. | 25,466 | $ | 108,974 | |||||||
Yakult Honsha Co., Ltd.(a) | 2,059 | 117,108 | ||||||||
Yamada Denki Co., Ltd.(a) | 9,329 | 48,959 | ||||||||
Yamaguchi Financial Group, Inc. | 6,444 | 71,337 | ||||||||
Yamaha Corp. | 2,649 | 73,432 | ||||||||
Yamaha Motor Co., Ltd. | 5,181 | 122,751 | ||||||||
Yamato Holdings Co., Ltd. | 6,302 | 136,165 | ||||||||
Total Japan | 47,809,043 | |||||||||
Jersey — 0.1% | ||||||||||
Randgold Resources Ltd. | 1,491 | 131,267 | ||||||||
Jordan — 0.0%(c) | ||||||||||
Hikma Pharmaceuticals PLC | 2,057 | 51,548 | ||||||||
Luxembourg — 0.3% | ||||||||||
ArcelorMittal* | 25,636 | 202,198 | ||||||||
Eurofins Scientific SE | 160 | 78,770 | ||||||||
RTL Group SA | 795 | 61,596 | ||||||||
SES SA | 5,820 | 127,229 | ||||||||
Tenaris SA(a) | 9,142 | 143,155 | ||||||||
Total Luxembourg | 612,948 | |||||||||
Macau — 0.0%(c) | ||||||||||
Wynn Macau Ltd.* | 40,269 | 88,537 | ||||||||
Mexico — 0.0%(c) | ||||||||||
Fresnillo PLC | 2,316 | 43,507 | ||||||||
Netherlands — 3.6% | ||||||||||
Aegon NV | 26,352 | 134,269 | ||||||||
Akzo Nobel NV | 3,835 | 335,259 | ||||||||
Altice NV, Class A*(a) | 7,023 | 174,406 | ||||||||
ASML Holding NV(a) | 4,623 | 610,902 | ||||||||
EXOR NV | 2,153 | 120,859 | ||||||||
Gemalto NV | 1,454 | 81,415 | ||||||||
Heineken Holding NV | 1,498 | 125,459 | ||||||||
Heineken NV | 3,140 | 279,870 | ||||||||
ING Groep NV | 55,578 | 904,496 | ||||||||
Koninklijke Ahold Delhaize NV | 19,029 | 394,125 | ||||||||
Koninklijke DSM NV | 2,998 | 214,391 | ||||||||
Koninklijke KPN NV | 49,449 | 142,965 | ||||||||
Koninklijke Philips NV | 13,445 | 465,874 | ||||||||
NN Group NV | 5,483 | 181,748 | ||||||||
Randstad Holding NV | 1,831 | 109,085 | ||||||||
Royal Dutch Shell PLC, Class A(b) | 60,536 | 1,568,327 | ||||||||
Royal Dutch Shell PLC, Class B(b) | 55,208 | 1,466,005 | ||||||||
Wolters Kluwer NV(a) | 5,277 | 224,052 | ||||||||
Total Netherlands | 7,533,507 | |||||||||
New Zealand — 0.2% | ||||||||||
Auckland International Airport Ltd. | 24,981 | 118,340 | ||||||||
Fisher & Paykel Healthcare Corp. Ltd. | 17,144 | 118,526 | ||||||||
Fletcher Building Ltd. | 19,403 | 113,896 | ||||||||
Spark New Zealand Ltd. | �� | 42,651 | 108,197 | |||||||
Total New Zealand | 458,959 | |||||||||
Norway — 0.6% | ||||||||||
DNB ASA | 17,551 | 274,743 | ||||||||
Norsk Hydro ASA | 21,287 | 121,761 | ||||||||
Orkla ASA | 15,345 | 139,272 | ||||||||
Schibsted ASA, Class A | 2,932 | 73,073 | ||||||||
Statoil ASA | 15,020 | 248,449 | ||||||||
Telenor ASA | 10,653 | 172,607 | ||||||||
Yara International ASA | 2,973 | 110,778 | ||||||||
Total Norway | 1,140,683 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Portugal — 0.1% | ||||||||||
EDP — Energias de Portugal SA | 40,287 | $ | 132,928 | |||||||
Galp Energia SGPS SA | 4,975 | 77,308 | ||||||||
Jeronimo Martins SGPS SA | 4,606 | 84,514 | ||||||||
Total Portugal | 294,750 | |||||||||
Russia — 0.0%(c) | ||||||||||
Polymetal International PLC | 4,815 | 63,228 | ||||||||
Singapore — 1.2% | ||||||||||
Ascendas Real Estate Investment Trust | 65,448 | 119,873 | ||||||||
CapitaLand Commercial Trust Ltd. | 94,865 | 110,292 | ||||||||
CapitaLand Ltd.* | 45,126 | 121,395 | ||||||||
CapitaLand Mall Trust | 73,017 | 102,914 | ||||||||
City Developments Ltd. | 12,361 | 95,425 | ||||||||
ComfortDelGro Corp. Ltd. | 40,703 | 79,793 | ||||||||
DBS Group Holdings Ltd. | 25,735 | 356,280 | ||||||||
Genting Singapore PLC | 124,746 | 99,515 | ||||||||
Global Logistic Properties Ltd. | 54,945 | 113,216 | ||||||||
Keppel Corp. Ltd. | 28,372 | 132,147 | ||||||||
Oversea-Chinese Banking Corp. Ltd. | 46,149 | 323,574 | ||||||||
Singapore Exchange Ltd. | 22,944 | 121,475 | ||||||||
Singapore Press Holdings Ltd.(a) | 45,343 | 112,571 | ||||||||
Singapore Technologies Engineering Ltd. | 39,223 | 106,357 | ||||||||
Singapore Telecommunications Ltd. | 105,756 | 282,984 | ||||||||
United Overseas Bank Ltd. | 18,236 | 284,428 | ||||||||
Total Singapore | 2,562,239 | |||||||||
South Africa — 0.1% | ||||||||||
Mediclinic International PLC(a) | 8,777 | 93,227 | ||||||||
Mondi PLC | 6,270 | 162,317 | ||||||||
Total South Africa | 255,544 | |||||||||
South Korea — 4.5% | ||||||||||
Amorepacific Corp. | 576 | 147,809 | ||||||||
AMOREPACIFIC Group | 545 | 62,982 | ||||||||
Celltrion, Inc.* | 1,402 | 110,396 | ||||||||
Coway Co. Ltd. | 1,347 | 118,968 | ||||||||
Dongbu Insurance Co., Ltd. | 1,401 | 83,723 | ||||||||
E-Mart Inc. | 523 | 105,712 | ||||||||
Hana Financial Group, Inc. | 5,551 | 191,229 | ||||||||
Hankook Tire Co. Ltd. | 1,846 | 95,553 | ||||||||
Hyundai Development Co.-Engineering & Construction | 1,409 | 55,350 | ||||||||
Hyundai Heavy Industries Co. Ltd.*(d)(e) | 893 | 129,488 | ||||||||
Hyundai Mobis Co. Ltd. | 1,090 | 212,655 | ||||||||
Hyundai Motor Co. | 2,688 | 340,163 | ||||||||
Hyundai Steel Co. | 1,755 | 84,673 | ||||||||
Industrial Bank of Korea | 6,822 | 74,941 | ||||||||
Kangwon Land, Inc. | 3,336 | 105,981 | ||||||||
KB Financial Group, Inc. | 7,381 | 324,974 | ||||||||
Kia Motors Corp. | 4,732 | 144,925 | ||||||||
Korea Aerospace Industries Ltd. | 1,521 | 85,280 | ||||||||
Korea Electric Power Corp. | 4,314 | 171,931 | ||||||||
Korea Zinc Co. Ltd. | 255 | 95,353 | ||||||||
KT&G Corp. | 2,258 | 201,412 | ||||||||
LG Chem Ltd. | 822 | 197,933 | ||||||||
LG Corp. | 2,083 | 123,746 | ||||||||
LG Display Co. Ltd. | 4,600 | 118,850 | ||||||||
LG Electronics, Inc. | 2,289 | 139,002 | ||||||||
LG Household & Health Care Ltd. | 179 | 136,228 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
South Korea (continued) | ||||||||||
Lotte Chemical Corp. | 272 | $ | 81,751 | |||||||
NAVER Corp. | 440 | 309,342 | ||||||||
NCSoft Corp. | 355 | 112,312 | ||||||||
POSCO | 1,137 | 267,288 | ||||||||
Samsung C&T Corp. | 1,387 | 150,536 | ||||||||
Samsung Electronics Co. Ltd. | 1,495 | 2,931,141 | ||||||||
Samsung Fire & Marine Insurance Co. Ltd. | 647 | 152,382 | ||||||||
Samsung Life Insurance Co. Ltd. | 1,562 | 150,311 | ||||||||
Samsung SDI Co. Ltd. | 1,090 | 131,712 | ||||||||
Samsung SDS Co. Ltd. | 571 | 68,998 | ||||||||
Shinhan Financial Group Co. Ltd. | 7,766 | 324,522 | ||||||||
SK Holdings Co. Ltd. | 608 | 129,572 | ||||||||
SK Hynix, Inc. | 8,241 | 391,084 | ||||||||
SK Innovation Co. Ltd. | 1,125 | 169,061 | ||||||||
SK Telecom Co. Ltd. | 491 | 103,343 | ||||||||
S-Oil Corp. | 1,120 | 98,132 | ||||||||
Woori Bank | 9,235 | 121,332 | ||||||||
Total South Korea | 9,352,076 | |||||||||
Spain — 3.2% | ||||||||||
Abertis Infraestructuras SA | 11,551 | 203,142 | ||||||||
ACS Actividades de Construccion y Servicios SA | 3,071 | 113,802 | ||||||||
Aena SA‡ | 1,038 | 183,114 | ||||||||
Amadeus IT Group SA | 6,619 | 356,784 | ||||||||
Banco Bilbao Vizcaya Argentaria SA | 95,447 | 763,833 | ||||||||
Banco de Sabadell SA | 81,049 | 155,864 | ||||||||
Banco Santander SA | 206,682 | 1,347,472 | ||||||||
Bankia SA | 79,053 | 95,898 | ||||||||
Bankinter SA | 14,906 | 131,202 | ||||||||
CaixaBank SA | 54,061 | 245,428 | ||||||||
Distribuidora Internacional de Alimentacion SA | 12,273 | 73,038 | ||||||||
Enagas SA | 4,056 | 106,665 | ||||||||
Endesa SA | 4,881 | 114,994 | ||||||||
Ferrovial SA | 7,919 | 168,458 | ||||||||
Gamesa Corp. Tecnologica SA | 3,437 | 74,237 | ||||||||
Gas Natural SDG SA | 4,624 | 104,533 | ||||||||
Grifols SA | 8,648 | 232,182 | ||||||||
Iberdrola SA | 74,289 | 534,082 | ||||||||
Industria de Diseno Textil SA(a) | 15,002 | 575,206 | ||||||||
Red Electrica Corp. SA | 7,113 | 138,648 | ||||||||
Repsol SA | 16,941 | 268,140 | ||||||||
Telefonica SA | 60,412 | 668,053 | ||||||||
Total Spain | 6,654,775 | |||||||||
Sweden — 2.7% | ||||||||||
Alfa Laval AB | 5,689 | 116,738 | ||||||||
Assa Abloy AB, B Shares | 13,427 | 290,988 | ||||||||
Atlas Copco AB, A Shares | 8,778 | 328,327 | ||||||||
Atlas Copco AB, B Shares | 5,509 | 183,285 | ||||||||
Boliden AB | 4,122 | 117,867 | ||||||||
Electrolux AB | 3,565 | 105,926 | ||||||||
Getinge AB, B Shares | 3,450 | 67,443 | ||||||||
Hennes & Mauritz AB, B Shares | 13,032 | 322,901 | ||||||||
Hexagon AB, B Shares | 4,106 | 178,850 | ||||||||
Industrivarden AB, A Shares | 7,617 | 189,677 | ||||||||
Investor AB, B Shares | 6,562 | 300,058 | ||||||||
Kinnevik AB, B Shares | 3,850 | 102,785 | ||||||||
Lundin Petroleum AB* | 3,961 | 75,643 | ||||||||
Nordea Bank AB | 42,305 | 520,762 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Sweden (continued) | ||||||||||
Sandvik AB | 16,986 | $ | 272,780 | |||||||
Securitas AB, B Shares | 5,464 | 90,339 | ||||||||
Skandinaviska Enskilda Banken AB, A Shares | 20,250 | 233,263 | ||||||||
Skanska AB, B Shares | 5,647 | 135,136 | ||||||||
SKF AB, B Shares | 6,625 | 145,596 | ||||||||
Svenska Cellulosa AB SCA, B Shares | 8,786 | 291,120 | ||||||||
Svenska Handelsbanken AB, A Shares | 20,215 | 286,966 | ||||||||
Swedbank AB, A Shares | 14,731 | 349,193 | ||||||||
Swedish Match AB | 3,446 | 113,715 | ||||||||
Telefonaktiebolaget LM Ericsson, B Shares | 42,397 | 273,396 | ||||||||
Telia Co. AB | 34,114 | 139,079 | ||||||||
Trelleborg AB, B Shares | 5,248 | 123,394 | ||||||||
Volvo AB, B Shares | 22,507 | 368,305 | ||||||||
Total Sweden | 5,723,532 | |||||||||
Switzerland — 8.8% | ||||||||||
ABB Ltd. | 28,252 | 691,364 | ||||||||
Actelion Ltd.* | 1,484 | 395,952 | ||||||||
Adecco Group AG | 2,513 | 186,560 | ||||||||
Aryzta AG* | 1,703 | 55,275 | ||||||||
Baloise Holding AG | 800 | 117,254 | ||||||||
Chocoladefabriken Lindt & Spruengli AG(a) | 18 | 101,170 | ||||||||
Cie Financiere Richemont SA | 7,606 | 635,330 | ||||||||
Clariant AG* | 5,826 | 117,931 | ||||||||
Coca-Cola HBC AG* | 3,499 | 96,965 | ||||||||
Credit Suisse Group AG* | 29,055 | 441,611 | ||||||||
Dufry AG* | 917 | 150,154 | ||||||||
EMS-Chemie Holding AG | 159 | 99,590 | ||||||||
Galenica AG | 92 | 99,907 | ||||||||
Geberit AG | 637 | 290,008 | ||||||||
Givaudan SA | 156 | 300,419 | ||||||||
Glencore PLC*(b) | 165,047 | 648,382 | ||||||||
Julius Baer Group Ltd.* | 3,451 | 179,752 | ||||||||
Kuehne + Nagel International AG | 636 | 96,092 | ||||||||
LafargeHolcim Ltd.* | 6,356 | 360,117 | ||||||||
Lonza Group AG* | 967 | 197,684 | ||||||||
Nestle SA | 43,893 | 3,379,776 | ||||||||
Novartis AG | 32,687 | 2,513,627 | ||||||||
Partners Group Holding AG | 451 | 272,516 | ||||||||
PSP Swiss Property AG | 969 | 86,830 | ||||||||
Roche Holding AG | 10,058 | 2,630,064 | ||||||||
Schindler Holding AG — Participating Certificate | 946 | 193,201 | ||||||||
SGS SA | 91 | 204,680 | ||||||||
Sika AG | 38 | 242,403 | ||||||||
Sonova Holding AG | 935 | 138,167 | ||||||||
STMicroelectronics NV | 9,262 | 149,775 | ||||||||
Swatch Group AG (The) | 510 | 204,061 | ||||||||
Swiss Life Holding AG* | 530 | 172,398 | ||||||||
Swiss Prime Site AG* | 1,257 | 108,912 | ||||||||
Swiss Re AG | 4,597 | 399,920 | ||||||||
Swisscom AG(a) | 333 | 145,183 | ||||||||
Syngenta AG* | 1,353 | 628,487 | ||||||||
UBS Group AG | 50,528 | 862,902 | ||||||||
Wolseley PLC | 3,577 | 226,945 | ||||||||
Zurich Insurance Group AG | 2,022 | 559,404 | ||||||||
Total Switzerland | 18,380,768 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
United Kingdom — 15.0% | ||||||||||
3i Group PLC | 16,333 | $ | 167,673 | |||||||
Aberdeen Asset Management PLC | 18,758 | 67,708 | ||||||||
Admiral Group PLC | 4,452 | 115,829 | ||||||||
Anglo American PLC* | 20,163 | 288,640 | ||||||||
Ashtead Group PLC | 8,263 | 174,358 | ||||||||
Associated British Foods PLC | 5,283 | 192,060 | ||||||||
AstraZeneca PLC(b) | 18,312 | 1,098,677 | ||||||||
Aviva PLC(b) | 57,619 | 390,986 | ||||||||
BAE Systems PLC | 44,139 | 358,047 | ||||||||
Barclays PLC(b) | 240,479 | 660,352 | ||||||||
Barratt Developments PLC | 15,640 | 117,258 | ||||||||
Berkeley Group Holdings PLC | 2,160 | 91,045 | ||||||||
BP PLC(b) | 269,758 | 1,544,322 | ||||||||
British American Tobacco PLC(b) | 26,618 | 1,795,891 | ||||||||
British Land Co. PLC (The) | 15,720 | 133,517 | ||||||||
BT Group PLC(b) | 120,986 | 477,012 | ||||||||
Bunzl PLC | 5,479 | 170,690 | ||||||||
Burberry Group PLC | 7,159 | 149,488 | ||||||||
Capita PLC | 11,345 | 81,607 | ||||||||
Centrica PLC | 79,198 | 202,773 | ||||||||
CNH Industrial NV | 11,511 | 126,979 | ||||||||
Compass Group PLC(b) | 22,979 | 463,179 | ||||||||
Croda International PLC | 2,622 | 127,683 | ||||||||
DCC PLC | 1,416 | 130,618 | ||||||||
Diageo PLC(b) | 36,456 | 1,059,560 | ||||||||
Direct Line Insurance Group PLC | 23,711 | 107,121 | ||||||||
Dixons Carphone PLC | 16,174 | 70,204 | ||||||||
DS Smith PLC | 16,875 | 94,205 | ||||||||
Experian PLC | 14,185 | 304,457 | ||||||||
Fiat Chrysler Automobiles NV* | 13,945 | 157,776 | ||||||||
G4S PLC | 27,085 | 106,911 | ||||||||
GKN PLC | 28,724 | 133,373 | ||||||||
GlaxoSmithKline PLC(b) | 69,757 | 1,398,846 | ||||||||
Hammerson PLC | 13,602 | 103,386 | ||||||||
Hargreaves Lansdown PLC | 4,382 | 78,122 | ||||||||
HSBC Holdings PLC(b) | 284,752 | 2,344,852 | ||||||||
IMI PLC | 5,767 | 95,427 | ||||||||
Imperial Brands PLC(b) | 13,823 | 676,354 | ||||||||
Inchcape PLC | 7,862 | 86,915 | ||||||||
Informa PLC | 16,681 | 138,550 | ||||||||
Inmarsat PLC | 8,059 | 85,235 | ||||||||
InterContinental Hotels Group PLC | 3,145 | 166,660 | ||||||||
International Consolidated Airlines Group SA | 15,311 | 110,928 | ||||||||
Intertek Group PLC | 3,028 | 159,285 | ||||||||
Intu Properties PLC | 16,037 | 57,202 | ||||||||
ITV PLC | 56,403 | 153,240 | ||||||||
J Sainsbury PLC | 28,785 | 102,561 | ||||||||
Johnson Matthey PLC | 3,260 | 125,643 | ||||||||
Just Eat PLC* | 8,591 | 64,131 | ||||||||
Kingfisher PLC | 36,515 | 161,235 | ||||||||
Land Securities Group PLC | 11,607 | 166,083 | ||||||||
Legal & General Group PLC | 86,392 | 275,065 | ||||||||
Lloyds Banking Group PLC(b) | 960,443 | 859,861 | ||||||||
London Stock Exchange Group PLC | 4,511 | 197,435 | ||||||||
Marks & Spencer Group PLC | 25,822 | 122,471 | ||||||||
Meggitt PLC | 15,335 | 91,758 | ||||||||
Melrose Industries PLC | 35,293 | 107,987 | ||||||||
Merlin Entertainments PLC‡ | 12,486 | 81,657 | ||||||||
Micro Focus International PLC | 3,642 | 121,942 | ||||||||
National Grid PLC(b) | 53,017 | 685,907 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
United Kingdom (continued) | ||||||||||
Next PLC | 2,232 | $ | 124,313 | |||||||
Old Mutual PLC | 73,384 | 184,185 | ||||||||
Pearson PLC | 12,652 | 104,595 | ||||||||
Persimmon PLC | 4,927 | 148,521 | ||||||||
Petrofac Ltd. | 5,478 | 57,725 | ||||||||
Provident Financial PLC | 2,710 | 112,334 | ||||||||
Prudential PLC(b) | 36,330 | 806,553 | ||||||||
Reckitt Benckiser Group PLC(b) | 9,131 | 840,039 | ||||||||
RELX NV(a) | 13,363 | 258,364 | ||||||||
RELX PLC | 15,699 | 318,064 | ||||||||
Rio Tinto Ltd. | 6,047 | 273,325 | ||||||||
Rio Tinto PLC | 17,783 | 704,467 | ||||||||
Rolls-Royce Holdings PLC*(d)(e) | 1,785,437 | 2,310 | ||||||||
Rolls-Royce Holdings PLC* | 25,002 | 262,652 | ||||||||
Royal Bank of Scotland Group PLC* | 46,376 | 159,237 | ||||||||
Royal Mail PLC | 15,921 | 82,906 | ||||||||
RSA Insurance Group PLC | 18,467 | 142,394 | ||||||||
Sage Group PLC (The) | 17,877 | 154,960 | ||||||||
Schroders PLC | 1,976 | 81,474 | ||||||||
Severn Trent PLC | 3,738 | 112,438 | ||||||||
Sky PLC | 14,513 | 186,260 | ||||||||
Smith & Nephew PLC | 13,878 | 228,024 | ||||||||
Smiths Group PLC | 7,402 | 157,052 | ||||||||
SSE PLC(b) | 14,165 | 254,914 | ||||||||
St James’s Place PLC | 8,959 | 133,061 | ||||||||
Standard Chartered PLC*(b) | 40,243 | 375,488 | ||||||||
Standard Life PLC | 30,936 | 145,645 | ||||||||
Tate & Lyle PLC | 10,707 | 104,792 | ||||||||
Taylor Wimpey PLC | 51,471 | 133,181 | ||||||||
TechnipFMC PLC* | 7,569 | 227,486 | ||||||||
Tesco PLC*(b) | 121,659 | 288,429 | ||||||||
Travis Perkins PLC | 4,658 | 97,084 | ||||||||
Unilever NV | 22,196 | 1,163,681 | ||||||||
Unilever PLC(b) | 17,234 | 885,616 | ||||||||
United Utilities Group PLC | 10,722 | 135,040 | ||||||||
Vodafone Group PLC(b) | 382,717 | 985,576 | ||||||||
Weir Group PLC (The)(a) | 3,973 | 102,339 | ||||||||
Whitbread PLC | 2,679 | 139,851 | ||||||||
Wm Morrison Supermarkets PLC | 38,481 | 119,434 | ||||||||
Worldpay Group PLC‡ | 28,863 | 112,025 | ||||||||
WPP PLC(b) | 18,673 | 399,335 | ||||||||
Total United Kingdom | 31,283,906 | |||||||||
United States — 0.5% | ||||||||||
Carnival PLC | 2,313 | 142,620 | ||||||||
QIAGEN NV* | 4,137 | 123,662 | ||||||||
Samsonite International SA | 22,769 | 87,972 | ||||||||
Shire PLC(b) | 12,882 | 756,140 | ||||||||
Total United States | 1,110,394 | |||||||||
Total Common Stocks (Cost $189,055,032) | 206,824,525 | |||||||||
Shares | Value | |||||||||
Preferred Stocks — 0.7% | ||||||||||
Germany — 0.5% | ||||||||||
FUCHS PETROLUB SE | 2,271 | $ | 117,109 | |||||||
Henkel AG & Co. KGaA | 2,733 | 372,013 | ||||||||
Porsche Automobil Holding SE | 2,604 | 152,301 | ||||||||
Volkswagen AG | 2,658 | 421,284 | ||||||||
Total Germany | 1,062,707 | |||||||||
South Korea — 0.2% | ||||||||||
Samsung Electronics Co. Ltd. | 199 | 306,571 | ||||||||
Total Preferred Stocks (Cost $1,153,927) | 1,369,278 | |||||||||
Investment of Cash Collateral For Securities Loaned — 2.5% | ||||||||||
Money Market Fund — 2.5% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(f) (Cost $5,248,703) | 5,248,703 | 5,248,703 | ||||||||
Total Investments — 102.3% (Cost $195,457,662) | 213,442,506 | |||||||||
Other Assets and Liabilities, Net — (2.3)% | (4,847,757 | ) | ||||||||
Net Assets — 100.0% | $ | 208,594,749 |
* | Non-income producing securities. |
‡ | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold except to qualified institutional buyers. Unless otherwise noted, 144A securities are deemed to be liquid. |
(a) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $5,136,502; total market value of collateral held by the Fund was $5,396,356. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $147,653. |
(b) | All of a portion of these securities have been segregated as collateral for forward foreign currency contracts. The total value of securities segregated amounted to $19,031,940. |
(c) | Less than 0.05%. |
(d) | Securities have been deemed illiquid because they may not be able to be resold within seven days at approximately the price shown. At April 30, 2017, the value of this security was $131,798. |
(e) | Security fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. |
(f) | Reflects the 1-day yield at April 30, 2017. |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2017
Purchase Contracts | Counterparty | Currency | Currency Amount Purchased | Value at Settlement Date | Value at April 30, 2017 | Unrealized Appreciation (Depreciation) | ||||||||||||||||
Australian Dollar Expiring 05/08/17 | Morgan Stanley | AUD | 9,778,383 | $ | 7,314,419 | $ | 7,311,693 | $ | (2,726 | ) | ||||||||||||
Swiss Franc Expiring 05/08/17 | Morgan Stanley | CHF | 8,440,504 | 8,479,854 | 8,483,681 | 3,827 | ||||||||||||||||
Danish Krone Expiring 05/08/17 | Morgan Stanley | DKK | 10,694,238 | 1,566,094 | 1,566,471 | 377 | ||||||||||||||||
Euro Expiring 05/08/17 | Morgan Stanley | EUR | 27,533,501 | 29,989,553 | 29,995,157 | 5,604 | ||||||||||||||||
British Pound Expiring 05/08/17 | Morgan Stanley | GBP | 14,134,551 | 18,293,874 | 18,290,910 | (2,964 | ) | |||||||||||||||
Hong Kong Dollar Expiring 05/08/17 | Morgan Stanley | HKD | 26,337,059 | 3,385,603 | 3,386,902 | 1,299 | ||||||||||||||||
Israeli Shekel Expiring 05/08/17 | Morgan Stanley | ILS | 1,905,849 | 526,890 | 526,653 | (237 | ) | |||||||||||||||
Japanese Yen Expiring 05/08/17 | Morgan Stanley | JPY | 2,644,900,702 | 23,726,711 | 23,734,665 | 7,954 | ||||||||||||||||
South Korean Won Expiring 05/08/17 | Morgan Stanley | KRW | 5,362,177,616 | 4,706,621 | 4,712,786 | 6,165 | ||||||||||||||||
Norwegian Krone Expiring 05/08/17 | Morgan Stanley | NOK | 5,011,888 | 585,305 | 585,118 | (187 | ) | |||||||||||||||
New Zealand Dollar Expiring 05/08/17 | Morgan Stanley | NZD | 322,940 | 221,629 | 221,668 | 39 | ||||||||||||||||
Swedish Krona Expiring 05/08/17 | Morgan Stanley | SEK | 24,666,246 | 2,784,333 | 2,786,859 | 2,526 | ||||||||||||||||
Singapore Dollar Expiring 05/08/17 | Morgan Stanley | SGD | 1,793,244 | 1,283,383 | 1,283,112 | (271 | ) | |||||||||||||||
$ | 102,864,269 | $ | 102,885,675 | $ | 21,406 |
Sales Contracts | Counterparty | Currency | Currency Amount Sold | Value at Settlement Date | Value at April 30, 2017 | Unrealized Appreciation (Depreciation) | ||||||||||||||||
Australian Dollar Expiring 05/08/17 | Morgan Stanley | AUD | (9,778,382 | ) | $ | (7,451,673 | ) | $ | (7,311,692 | ) | $ | 139,981 | ||||||||||
Australian Dollar Expiring 06/07/17 | Morgan Stanley | AUD | (9,872,847 | ) | (7,380,772 | ) | (7,378,335 | ) | 2,437 | |||||||||||||
Swiss Franc Expiring 05/08/17 | Morgan Stanley | CHF | (8,440,504 | ) | (8,444,226 | ) | (8,483,682 | ) | (39,456 | ) | ||||||||||||
Swiss Franc Expiring 06/07/17 | Morgan Stanley | CHF | (8,583,610 | ) | (8,638,462 | ) | (8,644,420 | ) | (5,958 | ) | ||||||||||||
Danish Krone Expiring 05/08/17 | Morgan Stanley | DKK | (10,694,239 | ) | (1,539,027 | ) | (1,566,471 | ) | (27,444 | ) | ||||||||||||
Danish Krone Expiring 06/07/17 | Morgan Stanley | DKK | (11,268,237 | ) | (1,652,338 | ) | (1,653,191 | ) | (853 | ) | ||||||||||||
Euro Expiring 05/08/17 | Morgan Stanley | EUR | (27,533,501 | ) | (29,469,680 | ) | (29,995,157 | ) | (525,477 | ) | ||||||||||||
Euro Expiring 06/07/17 | Morgan Stanley | EUR | (28,108,296 | ) | (30,657,465 | ) | (30,669,267 | ) | (11,802 | ) | ||||||||||||
British Pound Expiring 05/08/17 | Morgan Stanley | GBP | (14,134,552 | ) | (17,673,130 | ) | (18,290,911 | ) | (617,781 | ) | ||||||||||||
British Pound Expiring 06/07/17 | Morgan Stanley | GBP | (13,863,971 | ) | (17,957,106 | ) | (17,956,716 | ) | 390 | |||||||||||||
Hong Kong Dollar Expiring 05/08/17 | Morgan Stanley | HKD | (26,337,059 | ) | (3,390,670 | ) | (3,386,902 | ) | 3,768 | |||||||||||||
Hong Kong Dollar Expiring 06/07/17 | Morgan Stanley | HKD | (27,152,026 | ) | (3,490,804 | ) | (3,494,011 | ) | (3,207 | ) | ||||||||||||
Israeli Shekel Expiring 05/08/17 | Morgan Stanley | ILS | (1,905,849 | ) | (525,336 | ) | (526,653 | ) | (1,317 | ) | ||||||||||||
Israeli Shekel Expiring 06/07/17 | Morgan Stanley | ILS | (1,882,338 | ) | (520,530 | ) | (520,671 | ) | (141 | ) | ||||||||||||
Japanese Yen Expiring 05/08/17 | Morgan Stanley | JPY | (2,644,900,702 | ) | (23,769,592 | ) | (23,734,665 | ) | 34,927 | |||||||||||||
Japanese Yen Expiring 06/07/17 | Morgan Stanley | JPY | (2,664,637,015 | ) | (23,928,428 | ) | (23,940,407 | ) | (11,979 | ) | ||||||||||||
South Korean Won Expiring 05/08/17 | Morgan Stanley | KRW | (5,287,211,550 | ) | (4,729,170 | ) | (4,646,899 | ) | 82,271 | |||||||||||||
South Korean Won Expiring 05/08/17 | Morgan Stanley | KRW | (74,966,067 | ) | (65,845 | ) | (65,887 | ) | (42 | ) | ||||||||||||
South Korean Won Expiring 06/07/17 | Morgan Stanley | KRW | (5,495,286,875 | ) | (4,824,388 | ) | (4,831,418 | ) | (7,030 | ) | ||||||||||||
Norwegian Krone Expiring 05/08/17 | Morgan Stanley | NOK | (5,011,889 | ) | (583,238 | ) | (585,118 | ) | (1,880 | ) | ||||||||||||
Norwegian Krone Expiring 06/07/17 | Morgan Stanley | NOK | (4,885,830 | ) | (570,727 | ) | (570,614 | ) | 113 | |||||||||||||
New Zealand Dollar Expiring 05/08/17 | Morgan Stanley | NZD | (322,939 | ) | (225,597 | ) | (221,667 | ) | 3,930 | |||||||||||||
New Zealand Dollar Expiring 06/07/17 | Morgan Stanley | NZD | (334,250 | ) | (229,196 | ) | (229,249 | ) | (53 | ) | ||||||||||||
Swedish Krona Expiring 05/08/17 | Morgan Stanley | SEK | (24,666,247 | ) | (2,763,859 | ) | (2,786,859 | ) | (23,000 | ) | ||||||||||||
Swedish Krona Expiring 06/07/17 | Morgan Stanley | SEK | (25,324,932 | ) | (2,862,700 | ) | (2,865,949 | ) | (3,249 | ) | ||||||||||||
Singapore Dollar Expiring 05/08/17 | Morgan Stanley | SGD | (1,767,861 | ) | (1,264,969 | ) | (1,264,949 | ) | 20 | |||||||||||||
Singapore Dollar Expiring 05/08/17 | Morgan Stanley | SGD | (25,384 | ) | (18,135 | ) | (18,163 | ) | (28 | ) | ||||||||||||
Singapore Dollar Expiring 06/07/17 | Morgan Stanley | SGD | (1,790,621 | ) | (1,281,496 | ) | (1,281,646 | ) | (150 | ) | ||||||||||||
$ | (205,908,559 | ) | $ | (206,921,569 | ) | $ | (1,013,010 | ) | ||||||||||||||
Net Unrealized Appreciation (Depreciation) | $ | (991,604 | ) |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2017
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(g) | ||||||||||||||||||
Common Stocks | $ | 206,692,727 | $ | 2,310 | $ | 129,488 | (h) | $ | 206,824,525 | |||||||||
Preferred Stocks | 1,369,278 | — | — | 1,369,278 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 5,248,703 | — | — | 5,248,703 | ||||||||||||||
Total Investments in Securities | 213,310,708 | 2,310 | 129,488 | 213,442,506 | ||||||||||||||
Other Financial Instruments:(i) | ||||||||||||||||||
Forward Exchange Contracts | — | 295,628 | — | 295,628 | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 213,310,708 | $ | 297,938 | $ | 129,488 | $ | 213,738,134 | ||||||||||
Liability Valuation Inputs Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(i) | ||||||||||||||||||
Forward Exchange Contracts | $ | — | $ | 1,287,232 | $ | — | $ | 1,287,232 | ||||||||||
Total Other Financial Instruments | $ | — | $ | 1,287,232 | $ | — | $ | 1,287,232 |
(g) | For a complete listing of investments and their countries, see the Schedules of Investments. |
(h) | The Level 3 security, valued at $129,488 has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees. |
(i) | Reflects the unrealized appreciation (depreciation) of the instruments. |
Investments in Securities | Balance as of April 30, 2016 | Accrued Discounts (Premiums) | Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Purchases | Sales | Transfers into Level 3 | Transfers out of Level 3 | Balance as of April 30, 2017 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2017(j) | ||||||||||||||||||||||||||||||||
Common Stock: | ||||||||||||||||||||||||||||||||||||||||||
Hyundai Heavy Industries Co. Ltd.(k) | $ | — | $ | — | $ | 81 | $ | 34,836 | $ | 70,194 | $ | (11,459 | ) | $ | 35,836 | $ | — | $ | 129,488 | $ | 34,836 | |||||||||||||||||||||
Total | $ | — | $ | — | $ | 81 | $ | 34,836 | $ | 70,194 | $ | (11,459 | ) | $ | 35,836 | $ | — | $ | 129,488 | $ | 34,836 |
Security Type | Fair Value | Valuation Technique | Unobservable Inputs | |||||||
Common Stock | $ | 129,488 | Peer Analysis | Comparable Securities |
(j) | Included in “Net change in unrealized appreciation (depreciation) on investments” in the Statements of Operations. |
(k) | Security has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees. |
See notes to financial statements.
Shares | Value | |||||||||
Common Stocks — 98.9% | ||||||||||
Australia — 0.4% | ||||||||||
BHP Billiton PLC | 19,821 | $ | 301,310 | |||||||
Austria — 0.4% | ||||||||||
ANDRITZ AG | 682 | 37,705 | ||||||||
Erste Group Bank AG* | 2,712 | 96,925 | ||||||||
OMV AG | 1,331 | 61,273 | ||||||||
Raiffeisen Bank International AG* | 1,073 | 24,456 | ||||||||
Telekom Austria AG* | 1,315 | 9,232 | ||||||||
Vienna Insurance Group AG Wiener Versicherung Gruppe | 355 | 9,202 | ||||||||
voestalpine AG | 1,055 | 44,064 | ||||||||
Total Austria | 282,857 | |||||||||
Belgium — 1.9% | ||||||||||
Ackermans & van Haaren NV | 236 | 38,600 | ||||||||
Ageas | 1,902 | 77,877 | ||||||||
Anheuser-Busch InBev SA/NV(a) | 7,485 | 842,792 | ||||||||
bpost SA | 902 | 21,609 | ||||||||
Colruyt SA | 618 | 31,727 | ||||||||
Groupe Bruxelles Lambert SA(a) | 738 | 70,729 | ||||||||
KBC Group NV | 2,583 | 186,430 | ||||||||
Proximus SA(a) | 1,324 | 40,492 | ||||||||
Sofina SA | 148 | 21,233 | ||||||||
Solvay SA | 670 | 85,180 | ||||||||
Telenet Group Holding NV* | 447 | 27,142 | ||||||||
UCB SA | 1,133 | 88,289 | ||||||||
Umicore SA | 883 | 51,683 | ||||||||
Total Belgium | 1,583,783 | |||||||||
Chile — 0.0%(b) | ||||||||||
Antofagasta PLC | 3,337 | 36,178 | ||||||||
Denmark — 2.7% | ||||||||||
AP Moller — Maersk A/S, Class A(a) | 41 | 68,015 | ||||||||
AP Moller — Maersk A/S, Class B | 58 | 100,293 | ||||||||
Carlsberg A/S, Class B | 993 | 99,085 | ||||||||
Chr Hansen Holding A/S | 835 | 56,263 | ||||||||
Coloplast A/S, Class B | 954 | 81,644 | ||||||||
Danske Bank A/S | 6,846 | 248,588 | ||||||||
DONG Energy A/S‡ | 1,032 | 40,647 | ||||||||
DSV A/S | 1,743 | 97,080 | ||||||||
Genmab A/S* | 515 | 102,400 | ||||||||
H Lundbeck A/S | 538 | 27,570 | ||||||||
ISS A/S | 1,742 | 72,233 | ||||||||
Jyske Bank A/S | 625 | 33,392 | ||||||||
Novo Nordisk A/S, Class B | 17,317 | 673,684 | ||||||||
Novozymes A/S, Class B | 2,060 | 88,978 | ||||||||
Pandora A/S | 1,026 | 110,865 | ||||||||
TDC A/S | 7,591 | 40,735 | ||||||||
Tryg A/S | 1,049 | 20,120 | ||||||||
Vestas Wind Systems A/S | 2,089 | 179,849 | ||||||||
William Demant Holding A/S* | 1,064 | 24,350 | ||||||||
Total Denmark | 2,165,791 | |||||||||
Finland — 1.7% | ||||||||||
Elisa OYJ | 1,495 | 50,907 | ||||||||
Fortum OYJ | 4,232 | 61,569 | ||||||||
Huhtamaki OYJ | 968 | 37,505 | ||||||||
Kesko OYJ, Class B | 623 | 29,186 | ||||||||
Kone OYJ, Class B | 3,578 | 163,877 | ||||||||
Metso OYJ | 1,241 | 44,501 | ||||||||
Neste OYJ | 1,220 | 49,806 | ||||||||
Nokia OYJ | 53,638 | 306,648 | ||||||||
�� | ||||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Finland (continued) | ||||||||||
Nokian Renkaat OYJ | 1,280 | $ | 55,057 | |||||||
Orion OYJ, Class B | 961 | 55,097 | ||||||||
Sampo OYJ, Class A | 4,416 | 211,539 | ||||||||
Stora Enso OYJ, Class R | 5,426 | 64,522 | ||||||||
UPM-Kymmene OYJ | 4,992 | 131,715 | ||||||||
Wartsila OYJ Abp | 1,462 | 88,995 | ||||||||
Total Finland | 1,350,924 | |||||||||
France — 15.4% | ||||||||||
Accor SA* | 1,650 | 75,186 | ||||||||
Aeroports de Paris | 266 | 35,469 | ||||||||
Air Liquide SA | 3,615 | 435,383 | ||||||||
Airbus SE(a) | 5,130 | 414,672 | ||||||||
Alstom SA* | 1,419 | 45,043 | ||||||||
Amundi SA‡ | 396 | 26,046 | ||||||||
Arkema SA | 674 | 71,347 | ||||||||
Atos SE | 850 | 111,351 | ||||||||
AXA SA | 18,078 | 482,505 | ||||||||
BioMerieux | 135 | 26,983 | ||||||||
BNP Paribas SA | 9,165 | 646,519 | ||||||||
Bollore SA | 9,329 | 37,943 | ||||||||
Bouygues SA* | 1,889 | 79,391 | ||||||||
Bureau Veritas SA | 2,381 | 55,136 | ||||||||
Cap Gemini SA | 1,493 | 149,411 | ||||||||
Carrefour SA | 5,036 | 118,590 | ||||||||
Casino Guichard Perrachon SA | 527 | 31,735 | ||||||||
Christian Dior SE | 487 | 133,614 | ||||||||
Cie de Saint-Gobain | 4,460 | 240,650 | ||||||||
Cie Generale des Etablissements Michelin | 1,696 | 221,531 | ||||||||
Cie Plastic Omnium SA | 533 | 20,843 | ||||||||
CNP Assurances | 1,569 | 32,753 | ||||||||
Credit Agricole SA | 10,665 | 158,526 | ||||||||
Danone SA | 5,335 | 372,857 | ||||||||
Dassault Aviation SA | 19 | 25,959 | ||||||||
Dassault Systemes SE | 1,189 | 106,080 | ||||||||
Edenred | 2,187 | 55,978 | ||||||||
Eiffage SA | 679 | 57,495 | ||||||||
Electricite de France SA | 3,644 | 30,420 | ||||||||
Engie SA | 14,615 | 206,099 | ||||||||
Essilor International SA | 1,899 | 245,979 | ||||||||
Euler Hermes Group | 148 | 14,452 | ||||||||
Eurazeo SA | 364 | 24,671 | ||||||||
Eutelsat Communications SA | 1,655 | 39,162 | ||||||||
Faurecia | 700 | 34,165 | ||||||||
Fonciere Des Regions | 378 | 33,728 | ||||||||
Gecina SA | 380 | 54,042 | ||||||||
Groupe Eurotunnel SE | 4,366 | 47,948 | ||||||||
Hermes International | 224 | 107,132 | ||||||||
ICADE | 336 | 24,942 | ||||||||
Iliad SA | 223 | 54,128 | ||||||||
Imerys SA | 352 | 30,278 | ||||||||
Ingenico Group SA | 522 | 47,282 | ||||||||
Ipsen SA | 328 | 38,164 | ||||||||
JCDecaux SA | 701 | 24,721 | ||||||||
Kering | 699 | 216,593 | ||||||||
Klepierre | 1,923 | 75,470 | ||||||||
Lagardere SCA | 1,063 | 32,550 | ||||||||
Legrand SA | 2,492 | 161,273 | ||||||||
L’Oreal SA | 2,260 | 449,999 | ||||||||
LVMH Moet Hennessy Louis Vuitton SE | 2,350 | 579,621 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
France (continued) | ||||||||||
Natixis SA | 8,886 | $ | 61,803 | |||||||
Orange SA | 17,896 | 276,727 | ||||||||
Orpea | 400 | 40,840 | ||||||||
Pernod Ricard SA | 1,992 | 249,131 | ||||||||
Peugeot SA* | 3,682 | 77,123 | ||||||||
Publicis Groupe SA | 1,923 | 138,773 | ||||||||
Remy Cointreau SA | 231 | 23,298 | ||||||||
Renault SA | 1,615 | 150,558 | ||||||||
Rexel SA | 2,813 | 50,237 | ||||||||
Safran SA | 2,776 | 229,803 | ||||||||
Sanofi | 10,474 | 987,844 | ||||||||
Sartorius Stedim Biotech | 227 | 15,220 | ||||||||
Schneider Electric SE | 5,094 | 402,165 | ||||||||
SCOR SE* | 1,480 | 58,535 | ||||||||
SEB SA | 255 | 41,097 | ||||||||
SFR Group SA* | 666 | 21,801 | ||||||||
Societe BIC SA | 253 | 28,432 | ||||||||
Societe Generale SA | 6,877 | 376,008 | ||||||||
Sodexo SA | 848 | 107,764 | ||||||||
Suez | 3,164 | 51,974 | ||||||||
Teleperformance | 528 | 66,322 | ||||||||
Thales SA | 981 | 103,108 | ||||||||
TOTAL SA | 20,634 | 1,059,881 | ||||||||
Unibail-Rodamco SE | 924 | 226,845 | ||||||||
Valeo SA | 2,212 | 158,978 | ||||||||
Veolia Environnement SA | 4,626 | 87,854 | ||||||||
Vinci SA | 4,375 | 372,081 | ||||||||
Vivendi SA* | 10,161 | 201,546 | ||||||||
Wendel SA | 270 | 37,825 | ||||||||
Zodiac Aerospace | 1,846 | 44,807 | ||||||||
Total France | 12,590,195 | |||||||||
Germany — 14.0% | ||||||||||
adidas AG | 1,879 | 376,285 | ||||||||
Allianz SE | 4,273 | 813,359 | ||||||||
Axel Springer SE | 431 | 24,176 | ||||||||
BASF SE | 8,663 | 843,927 | ||||||||
Bayer AG | 7,761 | 960,072 | ||||||||
Bayerische Motoren Werke AG | 3,051 | 291,207 | ||||||||
Beiersdorf AG | 937 | 93,198 | ||||||||
Brenntag AG | 1,450 | 85,960 | ||||||||
Commerzbank AG* | 9,861 | 96,590 | ||||||||
Continental AG | 1,014 | 226,912 | ||||||||
Covestro AG‡ | 905 | 70,522 | ||||||||
Daimler AG | 9,662 | 719,666 | ||||||||
Deutsche Bank AG* | 19,416 | 349,495 | ||||||||
Deutsche Boerse AG | 1,735 | 169,756 | ||||||||
Deutsche Lufthansa AG* | 2,199 | 37,930 | ||||||||
Deutsche Post AG | 9,063 | 325,682 | ||||||||
Deutsche Telekom AG | 30,165 | 528,856 | ||||||||
Deutsche Wohnen AG | 3,154 | 107,810 | ||||||||
E.ON SE | 17,847 | 139,093 | ||||||||
Evonik Industries AG | 1,421 | 47,436 | ||||||||
Fielmann AG | 239 | 18,265 | ||||||||
Fraport AG Frankfurt Airport Services Worldwide | 349 | 27,439 | ||||||||
Fresenius Medical Care AG & Co. KGaA | 2,023 | 179,430 | ||||||||
Fresenius SE & Co. KGaA | 3,791 | 307,180 | ||||||||
FUCHS PETROLUB SE | 285 | 12,866 | ||||||||
GEA Group AG | 1,660 | 70,571 | ||||||||
Hannover Rueck SE | 573 | 68,699 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Germany (continued) | ||||||||||
HeidelbergCement AG | 1,399 | $ | 129,492 | |||||||
Hella KGaA Hueck & Co. | 422 | 20,870 | ||||||||
Henkel AG & Co. KGaA | 1,097 | 127,999 | ||||||||
HOCHTIEF AG | 180 | 32,420 | ||||||||
HUGO BOSS AG | 610 | 46,385 | ||||||||
Infineon Technologies AG | 10,524 | 217,742 | ||||||||
Innogy SE‡ | 1,219 | 44,801 | ||||||||
K+S AG(a) | 1,827 | 43,580 | ||||||||
KION Group AG | 614 | 41,581 | ||||||||
LANXESS AG | 870 | 62,812 | ||||||||
LEG Immobilien AG* | 597 | 51,267 | ||||||||
Linde AG | 1,736 | 311,824 | ||||||||
MAN SE | 335 | 35,181 | ||||||||
Merck KGaA | 1,220 | 143,214 | ||||||||
METRO AG | 1,570 | 51,649 | ||||||||
MTU Aero Engines AG* | 483 | 69,243 | ||||||||
Muenchener Rueckversicherungs-Gesellschaft AG | 1,340 | 256,745 | ||||||||
OSRAM Licht AG | 760 | 50,889 | ||||||||
ProSiebenSat.1 Media SE | 2,147 | 91,158 | ||||||||
Rational AG | 39 | 19,591 | ||||||||
RWE AG* | 4,539 | 75,154 | ||||||||
SAP SE | 8,388 | 840,978 | ||||||||
Siemens AG | 7,133 | 1,022,200 | ||||||||
Suedzucker AG | 713 | 15,245 | ||||||||
Symrise AG | 1,137 | 79,575 | ||||||||
Talanx AG | 352 | 12,684 | ||||||||
Telefonica Deutschland Holding AG | 6,527 | 31,629 | ||||||||
thyssenkrupp AG | 4,019 | 95,648 | ||||||||
TUI AG | 4,458 | 64,769 | ||||||||
Uniper SE* | 1,850 | 30,359 | ||||||||
United Internet AG | 1,111 | 51,121 | ||||||||
Volkswagen AG | 280 | 45,111 | ||||||||
Vonovia SE | 4,400 | 159,241 | ||||||||
Wacker Chemie AG | 142 | 15,026 | ||||||||
Wirecard AG | 1,091 | 64,404 | ||||||||
Zalando SE‡* | 979 | 43,160 | ||||||||
Total Germany | 11,487,129 | |||||||||
Ireland — 0.9% | ||||||||||
Bank of Ireland* | 258,158 | 64,944 | ||||||||
CRH PLC(c) | 7,783 | 283,852 | ||||||||
Glanbia PLC | 1,658 | 32,643 | ||||||||
Kerry Group PLC, Class A | 1,367 | 111,674 | ||||||||
Kingspan Group PLC | 1,692 | 58,840 | ||||||||
Paddy Power Betfair PLC | 769 | 85,561 | ||||||||
Ryanair Holdings PLC* | 779 | 13,530 | ||||||||
Smurfit Kappa Group PLC | 2,190 | 58,423 | ||||||||
Total Ireland | 709,467 | |||||||||
Italy — 3.3% | ||||||||||
Assicurazioni Generali SpA | 11,831 | 187,195 | ||||||||
Atlantia SpA | 5,020 | 127,261 | ||||||||
Banca Mediolanum SpA | 2,442 | 18,681 | ||||||||
Buzzi Unicem SpA | 689 | 17,707 | ||||||||
Buzzi Unicem SpA-RSP | 383 | 5,660 | ||||||||
Davide Campari-Milano SpA* | 2,698 | 31,907 | ||||||||
Enel SpA | 71,487 | 339,719 | ||||||||
Eni SpA | 23,117 | 359,222 | ||||||||
Ferrari NV | 1,241 | 93,313 | ||||||||
FinecoBank Banca Fineco SpA | 3,749 | 26,659 | ||||||||
Intesa Sanpaolo SpA | 112,972 | 328,958 | ||||||||
Intesa Sanpaolo SpA-RSP | 8,884 | 24,282 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Italy (continued) | ||||||||||
Italgas SpA* | 4,703 | $ | 21,254 | |||||||
Leonardo SpA* | 3,594 | 56,474 | ||||||||
Luxottica Group SpA | 1,487 | 86,145 | ||||||||
Mediaset SpA | 3,348 | 13,686 | ||||||||
Mediobanca SpA | 5,250 | 50,452 | ||||||||
Moncler SpA | 1,521 | 37,532 | ||||||||
Parmalat SpA | 1,913 | 6,479 | ||||||||
Poste Italiane SpA‡ | 4,355 | 29,830 | ||||||||
Prysmian SpA | 2,008 | 57,967 | ||||||||
Recordati SpA | 969 | 35,887 | ||||||||
Saipem SpA* | 54,809 | 23,611 | ||||||||
Salvatore Ferragamo SpA | 550 | 17,614 | ||||||||
Snam SpA | 22,804 | 100,770 | ||||||||
Telecom Italia SpA*(a) | 105,317 | 93,468 | ||||||||
Telecom Italia SpA-RSP* | 57,513 | 41,053 | ||||||||
Terna Rete Elettrica Nazionale SpA | 13,584 | 68,488 | ||||||||
UniCredit SpA* | 19,619 | 319,180 | ||||||||
Unione di Banche Italiane SpA(a) | 7,957 | 33,498 | ||||||||
UnipolSai SpA | 9,088 | 20,881 | ||||||||
Total Italy | 2,674,833 | |||||||||
Jersey — 0.1% | ||||||||||
Randgold Resources Ltd. | 872 | 76,771 | ||||||||
Jordan — 0.0%(b) | ||||||||||
Hikma Pharmaceuticals PLC | 1,313 | 32,904 | ||||||||
Luxembourg — 0.4% | ||||||||||
ArcelorMittal* | 17,200 | 135,661 | ||||||||
Eurofins Scientific SE | 88 | 43,324 | ||||||||
RTL Group SA | 356 | 27,583 | ||||||||
SES SA | 3,399 | 74,304 | ||||||||
Tenaris SA(a) | 4,461 | 69,855 | ||||||||
Total Luxembourg | 350,727 | |||||||||
Mexico — 0.0%(b) | ||||||||||
Fresnillo PLC | 1,586 | 29,793 | ||||||||
Netherlands — 6.0% | ||||||||||
ABN AMRO Group NV‡ | 2,630 | 69,021 | ||||||||
Aegon NV | 16,360 | 83,357 | ||||||||
Akzo Nobel NV | 2,361 | 206,401 | ||||||||
Altice NV, Class A*(a) | 3,689 | 91,611 | ||||||||
Altice NV, Class B* | 1,137 | 28,267 | ||||||||
ASML Holding NV(a) | 3,012 | 398,018 | ||||||||
Boskalis Westminster NV | 783 | 28,790 | ||||||||
EXOR NV | 1,055 | 59,223 | ||||||||
Gemalto NV | 783 | 43,843 | ||||||||
GrandVision NV‡ | 454 | 11,850 | ||||||||
Heineken Holding NV | 931 | 77,972 | ||||||||
Heineken NV | 2,032 | 181,113 | ||||||||
ING Groep NV | 36,242 | 589,815 | ||||||||
Koninklijke Ahold Delhaize NV | 11,868 | 245,808 | ||||||||
Koninklijke DSM NV | 1,661 | 118,780 | ||||||||
Koninklijke KPN NV | 29,148 | 84,272 | ||||||||
Koninklijke Philips NV | 8,526 | 295,429 | ||||||||
Koninklijke Vopak NV | 619 | 27,919 | ||||||||
NN Group NV | 3,081 | 102,128 | ||||||||
OCI NV* | 784 | 15,248 | ||||||||
Randstad Holding NV | 1,042 | 62,079 | ||||||||
Royal Dutch Shell PLC, Class A(c) | 41,563 | 1,076,787 | ||||||||
Royal Dutch Shell PLC, Class B(c) | 35,150 | 933,381 | ||||||||
Wolters Kluwer NV(a) | 2,738 | 116,250 | ||||||||
Total Netherlands | 4,947,362 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Norway — 0.9% | ||||||||||
Aker BP ASA | 963 | $ | 16,379 | |||||||
DNB ASA | 10,088 | 157,918 | ||||||||
Gjensidige Forsikring ASA | 1,588 | 24,451 | ||||||||
Marine Harvest ASA* | 3,511 | 58,527 | ||||||||
Norsk Hydro ASA | 12,723 | 72,775 | ||||||||
Orkla ASA | 7,413 | 67,281 | ||||||||
Schibsted ASA, Class A | 725 | 18,069 | ||||||||
Schibsted ASA, Class B | 807 | 18,134 | ||||||||
Statoil ASA | 9,105 | 150,607 | ||||||||
Telenor ASA | 6,515 | 105,560 | ||||||||
Yara International ASA | 1,656 | 61,705 | ||||||||
Total Norway | 751,406 | |||||||||
Portugal — 0.2% | ||||||||||
EDP — Energias de Portugal SA | 21,618 | 71,329 | ||||||||
Galp Energia SGPS SA | 4,892 | 76,018 | ||||||||
Jeronimo Martins SGPS SA | 2,293 | 42,074 | ||||||||
Total Portugal | 189,421 | |||||||||
Russia — 0.0%(b) | ||||||||||
Polymetal International PLC | 2,453 | 32,212 | ||||||||
South Africa — 0.2% | ||||||||||
Investec PLC | 6,008 | 44,422 | ||||||||
Mediclinic International PLC(a) | 3,683 | 39,119 | ||||||||
Mondi PLC | 3,446 | 89,210 | ||||||||
Total South Africa | 172,751 | |||||||||
Spain — 5.3% | ||||||||||
Abertis Infraestructuras SA | 5,884 | 103,479 | ||||||||
Acciona SA | 245 | 20,207 | ||||||||
Acerinox SA | 1,330 | 18,567 | ||||||||
ACS Actividades de Construccion y Servicios SA | 1,591 | 58,958 | ||||||||
Aena SA‡ | 610 | 107,610 | ||||||||
Amadeus IT Group SA | 3,892 | 209,791 | ||||||||
Banco Bilbao Vizcaya Argentaria SA | 62,761 | 502,257 | ||||||||
Banco de Sabadell SA | 48,832 | 93,908 | ||||||||
Banco Popular Espanol SA*(a) | 29,405 | 20,621 | ||||||||
Banco Santander SA | 135,180 | 881,312 | ||||||||
Bankia SA | 43,951 | 53,317 | ||||||||
Bankinter SA | 6,544 | 57,600 | ||||||||
CaixaBank SA | 33,922 | 154,000 | ||||||||
Corp. Financiera Alba SA | 166 | 9,020 | ||||||||
Distribuidora Internacional de Alimentacion SA | 5,842 | 34,766 | ||||||||
EDP Renovaveis SA | 1,914 | 14,579 | ||||||||
Enagas SA | 2,108 | 55,436 | ||||||||
Endesa SA | 2,985 | 70,325 | ||||||||
Ferrovial SA | 4,492 | 95,557 | ||||||||
Gamesa Corp. Tecnologica SA | 2,106 | 45,488 | ||||||||
Gas Natural SDG SA | 2,894 | 65,423 | ||||||||
Grifols SA | 3,145 | 84,437 | ||||||||
Iberdrola SA | 52,622 | 378,313 | ||||||||
Industria de Diseno Textil SA(a) | 9,944 | 381,272 | ||||||||
Mapfre SA | 9,674 | 33,753 | ||||||||
Mediaset Espana Comunicacion SA* | 1,684 | 23,207 | ||||||||
Merlin Properties Socimi SA | 3,081 | 36,453 | ||||||||
Red Electrica Corp. SA | 4,103 | 79,977 | ||||||||
Repsol SA | 10,618 | 168,060 | ||||||||
Telefonica SA | 40,271 | 445,328 | ||||||||
Zardoya Otis SA | 1,761 | 16,319 | ||||||||
Total Spain | 4,319,340 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Sweden — 4.6% | ||||||||||
Alfa Laval AB | 2,967 | $ | 60,883 | |||||||
Assa Abloy AB, B Shares | 8,812 | 190,972 | ||||||||
Atlas Copco AB, A Shares | 5,812 | 217,389 | ||||||||
Atlas Copco AB, B Shares | 3,670 | 122,101 | ||||||||
Boliden AB | 2,545 | 72,773 | ||||||||
Electrolux AB | 2,092 | 62,159 | ||||||||
Fastighets AB Balder, B Shares* | 879 | 19,635 | ||||||||
Getinge AB, B Shares | 1,740 | 34,015 | ||||||||
Hennes & Mauritz AB, B Shares | 8,910 | 220,768 | ||||||||
Hexagon AB, B Shares | 2,405 | 104,758 | ||||||||
Husqvarna AB, B Shares | 3,571 | 35,509 | ||||||||
ICA Gruppen AB | 897 | 30,633 | ||||||||
Industrivarden AB, A Shares | 1,946 | 48,459 | ||||||||
Industrivarden AB, C Shares | 1,511 | 35,152 | ||||||||
Investment AB Latour, B Shares(a) | 274 | 12,387 | ||||||||
Investor AB, B Shares | 4,245 | 194,109 | ||||||||
Kinnevik AB, B Shares | 1,924 | 51,366 | ||||||||
L E Lundbergforetagen AB, B Shares | 247 | 17,894 | ||||||||
Lundin Petroleum AB* | 1,667 | 31,835 | ||||||||
Melker Schorling AB | 93 | 5,955 | ||||||||
Nordea Bank AB | 29,810 | 366,952 | ||||||||
Sandvik AB | 10,185 | 163,562 | ||||||||
Securitas AB, B Shares | 2,889 | 47,765 | ||||||||
Skandinaviska Enskilda Banken AB, A Shares | 13,557 | 156,166 | ||||||||
Skandinaviska Enskilda Banken AB, C Shares | 193 | 2,221 | ||||||||
Skanska AB, B Shares | 3,399 | 81,340 | ||||||||
SKF AB, B Shares | 3,582 | 78,721 | ||||||||
Svenska Cellulosa AB SCA, B Shares | 5,601 | 185,587 | ||||||||
Svenska Handelsbanken AB, A Shares | 13,750 | 195,191 | ||||||||
Svenska Handelsbanken AB, B Shares | 290 | 4,087 | ||||||||
Swedbank AB, A Shares | 9,899 | 234,652 | ||||||||
Swedish Match AB | 1,744 | 57,550 | ||||||||
Tele2 AB, B Shares | 3,326 | 33,505 | ||||||||
Telefonaktiebolaget LM Ericsson, B Shares | 27,970 | 180,364 | ||||||||
Telia Co. AB | 24,381 | 99,399 | ||||||||
Trelleborg AB, B Shares | 2,282 | 53,656 | ||||||||
Volvo AB, B Shares | 14,494 | 237,180 | ||||||||
Total Sweden | �� | 3,746,650 | ||||||||
Switzerland — 14.8% | ||||||||||
ABB Ltd. | 17,965 | 439,628 | ||||||||
Actelion Ltd.* | 900 | 240,133 | ||||||||
Adecco Group AG | 1,487 | 110,392 | ||||||||
Aryzta AG* | 789 | 25,609 | ||||||||
Baloise Holding AG | 435 | 63,757 | ||||||||
Banque Cantonale Vaudoise* | 27 | 19,556 | ||||||||
Barry Callebaut AG* | 18 | 24,700 | ||||||||
Chocoladefabriken Lindt & Spruengli AG(a) | 10 | 56,206 | ||||||||
Chocoladefabriken Lindt & Spruengli AG | 1 | 66,412 | ||||||||
Cie Financiere Richemont SA | 4,793 | 400,360 | ||||||||
Clariant AG* | 2,612 | 52,872 | ||||||||
Coca-Cola HBC AG* | 1,841 | 51,018 | ||||||||
Credit Suisse Group AG* | 19,533 | 296,885 | ||||||||
DKSH Holding AG | 253 | 20,345 | ||||||||
Dufry AG* | 455 | 74,504 | ||||||||
EMS-Chemie Holding AG | 69 | 43,218 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Switzerland (continued) | ||||||||||
Flughafen Zurich AG | 146 | $ | 32,149 | |||||||
Galenica AG | 39 | 42,352 | ||||||||
Geberit AG | 348 | 158,434 | ||||||||
Givaudan SA | 87 | 167,541 | ||||||||
Glencore PLC* | 109,422 | 429,861 | ||||||||
Helvetia Holding AG* | 57 | 31,636 | ||||||||
Julius Baer Group Ltd.* | 2,047 | 106,622 | ||||||||
Kuehne + Nagel International AG | 479 | 72,371 | ||||||||
LafargeHolcim Ltd.* | 4,542 | 257,340 | ||||||||
Lonza Group AG* | 538 | 109,983 | ||||||||
Nestle SA | 28,946 | 2,228,852 | ||||||||
Novartis AG | 22,179 | 1,705,563 | ||||||||
Pargesa Holding SA | 265 | 19,793 | ||||||||
Partners Group Holding AG | 206 | 124,475 | ||||||||
PSP Swiss Property AG | 360 | 32,259 | ||||||||
Roche Holding AG | 6,594 | 1,724,264 | ||||||||
Roche Holding AG | 258 | 67,516 | ||||||||
Schindler Holding AG — Participating Certificate | 383 | 78,220 | ||||||||
Schindler Holding AG — Registered | 196 | 38,907 | ||||||||
SGS SA | 48 | 107,963 | ||||||||
Sika AG | 20 | 127,581 | ||||||||
Sonova Holding AG | 485 | 71,670 | ||||||||
STMicroelectronics NV | 5,940 | 96,055 | ||||||||
Straumann Holding AG | 101 | 53,267 | ||||||||
Sulzer AG | 123 | 14,346 | ||||||||
Swatch Group AG (The) — Bearer | 285 | 114,034 | ||||||||
Swatch Group AG (The) — Registered | 444 | 34,433 | ||||||||
Swiss Life Holding AG* | 301 | 97,909 | ||||||||
Swiss Prime Site AG* | 611 | 52,940 | ||||||||
Swiss Re AG | 3,070 | 267,077 | ||||||||
Swisscom AG(a) | 214 | 93,301 | ||||||||
Syngenta AG* | 861 | 399,946 | ||||||||
Temenos Group AG* | 556 | 48,118 | ||||||||
UBS Group AG | 32,697 | 558,390 | ||||||||
Wolseley PLC | 2,367 | 150,175 | ||||||||
Zurich Insurance Group AG | 1,399 | 387,046 | ||||||||
Total Switzerland | 12,087,984 | |||||||||
United Kingdom — 24.9% | ||||||||||
3i Group PLC | 9,043 | 92,835 | ||||||||
Aberdeen Asset Management PLC | 9,411 | 33,970 | ||||||||
Admiral Group PLC | 1,859 | 48,366 | ||||||||
Aggreko PLC | 2,273 | 26,099 | ||||||||
Anglo American PLC* | 12,337 | 176,608 | ||||||||
Ashmore Group PLC | 3,680 | 16,559 | ||||||||
Ashtead Group PLC | 4,723 | 99,660 | ||||||||
Associated British Foods PLC | 3,270 | 118,879 | ||||||||
AstraZeneca PLC(c) | 11,843 | 710,552 | ||||||||
Auto Trader Group PLC‡ | 9,139 | 47,424 | ||||||||
Aviva PLC(c) | 37,965 | 257,620 | ||||||||
Babcock International Group PLC | 2,367 | 27,530 | ||||||||
BAE Systems PLC | 29,682 | 240,775 | ||||||||
Barclays PLC | 158,741 | 435,900 | ||||||||
Barratt Developments PLC | 9,580 | 71,824 | ||||||||
Bellway PLC | 1,144 | 42,122 | ||||||||
Berkeley Group Holdings PLC | 1,222 | 51,508 | ||||||||
Booker Group PLC | 15,667 | 39,322 | ||||||||
BP PLC(c) | 179,092 | 1,025,274 | ||||||||
British American Tobacco PLC(c) | 17,493 | 1,180,236 | ||||||||
British Land Co. PLC (The) | 9,612 | 81,639 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
United Kingdom (continued) | ||||||||||
BT Group PLC | 78,531 | $ | 309,624 | |||||||
Bunzl PLC | 3,149 | 98,102 | ||||||||
Burberry Group PLC | 4,194 | 87,575 | ||||||||
Capita PLC | 6,285 | 45,210 | ||||||||
Capital & Counties Properties PLC | 6,983 | 28,530 | ||||||||
Centrica PLC | 51,694 | 132,354 | ||||||||
CNH Industrial NV | 8,608 | 94,955 | ||||||||
Cobham PLC(a) | 16,282 | 27,911 | ||||||||
Compass Group PLC | 15,462 | 311,662 | ||||||||
Croda International PLC | 1,222 | 59,507 | ||||||||
CYBG PLC* | 8,368 | 30,421 | ||||||||
Daily Mail & General Trust PLC, Class A | 2,525 | 23,373 | ||||||||
DCC PLC | 838 | 77,301 | ||||||||
Derwent London PLC | 901 | 34,317 | ||||||||
Diageo PLC(c) | 23,637 | 686,988 | ||||||||
Direct Line Insurance Group PLC | 13,072 | 59,056 | ||||||||
Dixons Carphone PLC | 9,488 | 41,183 | ||||||||
DS Smith PLC | 8,904 | 49,707 | ||||||||
easyJet PLC | 2,027 | 30,630 | ||||||||
Experian PLC | 8,852 | 189,993 | ||||||||
Fiat Chrysler Automobiles NV* | 10,037 | 113,561 | ||||||||
G4S PLC | 14,798 | 58,411 | ||||||||
GKN PLC | 16,295 | 75,662 | ||||||||
GlaxoSmithKline PLC(c) | 46,082 | 924,088 | ||||||||
Halma PLC | 3,577 | 48,730 | ||||||||
Hammerson PLC | 7,512 | 57,097 | ||||||||
Hargreaves Lansdown PLC | 2,280 | 40,648 | ||||||||
Henderson Group PLC(a) | 10,030 | 29,949 | ||||||||
Howden Joinery Group PLC | 5,771 | 34,569 | ||||||||
HSBC Holdings PLC(c) | 188,186 | 1,549,659 | ||||||||
IMI PLC | 2,554 | 42,261 | ||||||||
Imperial Brands PLC | 9,041 | 442,373 | ||||||||
Inchcape PLC | 4,008 | 44,309 | ||||||||
Informa PLC | 7,840 | 65,118 | ||||||||
Inmarsat PLC | 4,268 | 45,140 | ||||||||
InterContinental Hotels Group PLC | 1,839 | 97,452 | ||||||||
International Consolidated Airlines Group SA | 9,948 | 72,073 | ||||||||
Intertek Group PLC | 1,528 | 80,379 | ||||||||
Intu Properties PLC | 8,282 | 29,541 | ||||||||
ITV PLC | 35,132 | 95,449 | ||||||||
J Sainsbury PLC | 15,929 | 56,755 | ||||||||
John Wood Group PLC | 3,498 | 34,371 | ||||||||
Johnson Matthey PLC | 1,827 | 70,414 | ||||||||
Just Eat PLC* | 5,243 | 39,139 | ||||||||
Kingfisher PLC | 21,166 | 93,460 | ||||||||
Land Securities Group PLC | 7,383 | 105,642 | ||||||||
Legal & General Group PLC(c) | 55,724 | 177,421 | ||||||||
Lloyds Banking Group PLC | 634,043 | 567,643 | ||||||||
London Stock Exchange Group PLC | 2,969 | 129,946 | ||||||||
Marks & Spencer Group PLC | 15,420 | 73,135 | ||||||||
Meggitt PLC | 7,408 | 44,326 | ||||||||
Melrose Industries PLC | 17,931 | 54,864 | ||||||||
Merlin Entertainments PLC‡ | 6,727 | 43,994 | ||||||||
Micro Focus International PLC | 2,090 | 69,978 | ||||||||
National Grid PLC | 35,399 | 457,974 | ||||||||
Next PLC | 1,316 | 73,296 | ||||||||
Old Mutual PLC | 46,143 | 115,813 | ||||||||
Pearson PLC | 7,831 | 64,739 | ||||||||
Pennon Group PLC | 3,918 | 43,441 | ||||||||
Persimmon PLC | 2,888 | 87,057 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
United Kingdom (continued) | ||||||||||
Petrofac Ltd. | 2,449 | $ | 25,807 | |||||||
Provident Financial PLC | 1,393 | 57,742 | ||||||||
Prudential PLC(c) | 24,204 | 537,347 | ||||||||
Reckitt Benckiser Group PLC(c) | 5,901 | 542,883 | ||||||||
RELX NV | 8,254 | 159,585 | ||||||||
RELX PLC | 10,152 | 205,681 | ||||||||
Rentokil Initial PLC | 17,413 | 56,095 | ||||||||
Rightmove PLC | 846 | 45,816 | ||||||||
Rio Tinto PLC(c) | 11,348 | 449,547 | ||||||||
Rolls-Royce Holdings PLC*(d)(e) | 1,109,233 | 1,435 | ||||||||
Rolls-Royce Holdings PLC* | 15,623 | 164,124 | ||||||||
Royal Bank of Scotland Group PLC* | 31,231 | 107,235 | ||||||||
Royal Mail PLC | 8,641 | 44,997 | ||||||||
RPC Group PLC | 3,938 | 41,319 | ||||||||
RSA Insurance Group PLC | 9,666 | 74,532 | ||||||||
Sage Group PLC (The) | 10,107 | 87,609 | ||||||||
Schroders PLC | 1,057 | 43,582 | ||||||||
Segro PLC | 9,449 | 59,375 | ||||||||
Severn Trent PLC | 2,192 | 65,935 | ||||||||
Sky PLC | 9,841 | 126,299 | ||||||||
Smith & Nephew PLC | 8,302 | 136,407 | ||||||||
Smiths Group PLC | 3,686 | 78,208 | ||||||||
SSE PLC | 9,600 | 172,762 | ||||||||
St James’s Place PLC | 4,898 | 72,746 | ||||||||
Standard Chartered PLC* | 25,190 | 235,036 | ||||||||
Standard Life PLC | 18,539 | 87,281 | ||||||||
Tate & Lyle PLC | 4,441 | 43,465 | ||||||||
Taylor Wimpey PLC | 30,638 | 79,276 | �� | |||||||
TechnipFMC PLC* | 4,316 | 129,717 | ||||||||
Tesco PLC* | 76,231 | 180,728 | ||||||||
Travis Perkins PLC | 2,363 | 49,250 | ||||||||
Unilever NV | 14,606 | 765,756 | ||||||||
Unilever PLC | 11,322 | 581,812 | ||||||||
United Utilities Group PLC | 6,461 | 81,374 | ||||||||
Vodafone Group PLC(c) | 249,314 | 642,036 | ||||||||
Weir Group PLC (The)(a) | 2,017 | 51,955 | ||||||||
Whitbread PLC | 1,712 | 89,371 | ||||||||
William Hill PLC | 8,275 | 31,421 | ||||||||
Wm Morrison Supermarkets PLC | 20,624 | 64,011 | ||||||||
Worldpay Group PLC‡ | 17,643 | 68,477 | ||||||||
WPP PLC | 12,005 | 256,735 | ||||||||
Total United Kingdom | 20,387,747 | |||||||||
United States — 0.8% | ||||||||||
Carnival PLC | 1,712 | 105,562 | ||||||||
QIAGEN NV* | 2,104 | 62,892 | ||||||||
Shire PLC | 8,448 | 495,876 | ||||||||
Total United States | 664,330 | |||||||||
Total Common Stocks (Cost $78,663,754) | 80,971,865 | |||||||||
Preferred Stocks — 0.9% | ||||||||||
Germany — 0.8% | ||||||||||
Bayerische Motoren Werke AG | 518 | 42,577 | ||||||||
FUCHS PETROLUB SE | 630 | 32,487 | ||||||||
Henkel AG & Co. KGaA | 1,629 | 221,737 | ||||||||
Porsche Automobil Holding SE | 1,455 | 85,099 | ||||||||
RWE AG | 281 | 3,415 | ||||||||
Sartorius AG | 325 | 29,750 | ||||||||
Volkswagen AG | 1,722 | 272,931 | ||||||||
Total Germany | 687,996 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Preferred Stocks (continued) | ||||||||||
Spain — 0.1% | ||||||||||
Grifols SA, Class B | 2,444 | $ | 52,150 | |||||||
Sweden — 0.0%(b) | ||||||||||
Fastighets AB Balder | 22 | 845 | ||||||||
Total Preferred Stocks (Cost $709,396) | 740,991 | |||||||||
Short-Term Investment — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 0.61%(f) (Cost $95,558) | 95,558 | 95,558 | ||||||||
Investment of Cash Collateral For Securities Loaned — 3.5% | ||||||||||
Money Market Fund — 3.5% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(g) (Cost $2,849,661) | 2,849,661 | 2,849,661 | ||||||||
Total Investments — 103.4% (Cost $82,318,369) | 84,658,075 | |||||||||
Other Assets and Liabilities, Net — (3.4)% | (2,812,800 | ) | ||||||||
Net Assets — 100.0% | $ | 81,845,275 |
‡ | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold except to qualified institutional buyers. Unless otherwise noted, 144A securities are deemed to be liquid. |
* | Non-income producing securities. |
(a) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $2,744,208; total market value of collateral held by the Fund was $2,879,633. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $29,972. |
(b) | Less than 0.05%. |
(c) | All of a portion of these securities have been segregated as collateral for forward foreign currency contracts. The total value of securities segregated amounted to $6,701,620. |
(d) | Security has been deemed illiquid because it may not be able to be resold within seven days at approximately the price shown. At April 30, 2017, the value of this security was $1,435. |
(e) | Security fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. |
(f) | Reflects the 7-day yield at April 30, 2017. |
(g) | Reflects the 1-day yield at April 30, 2017. |
Purchase Contracts | Counterparty | Currency | Currency Amount Purchased | Value at Settlement Date | Value at April 30, 2017 | Unrealized Appreciation (Depreciation) | ||||||||||||||||
Swiss Franc Expiring 05/08/17 | Morgan Stanley | CHF | 5,569,152 | $ | 5,595,117 | $ | 5,597,641 | $ | 2,524 | |||||||||||||
Danish Krone Expiring 05/08/17 | Morgan Stanley | DKK | 7,055,184 | 1,033,181 | 1,033,429 | 248 | ||||||||||||||||
Euro Expiring 05/08/17 | Morgan Stanley | EUR | 18,122,908 | 19,739,514 | 19,743,202 | 3,688 | ||||||||||||||||
British Pound Expiring 05/08/17 | Morgan Stanley | GBP | 9,310,539 | 12,050,318 | 12,048,365 | (1,953 | ) | |||||||||||||||
Norwegian Krone Expiring 05/08/17 | Morgan Stanley | NOK | 3,278,636 | 382,890 | 382,768 | (122 | ) | |||||||||||||||
Swedish Krona Expiring 05/08/17 | Morgan Stanley | SEK | 16,179,094 | 1,826,301 | 1,827,958 | 1,657 | ||||||||||||||||
$ | 40,627,321 | $ | 40,633,363 | $ | 6,042 | |||||||||||||||||
Sales Contracts | Counterparty | Currency | Currency Amount Sold | Value at Settlement Date | Value at April 30, 2017 | Unrealized Appreciation (Depreciation) | ||||||||||||||||
Swiss Franc Expiring 05/08/17 | Morgan Stanley | CHF | (5,569,153 | ) | $ | (5,571,962 | ) | $ | (5,597,642 | ) | $ | (25,680 | ) | |||||||||
Swiss Franc Expiring 06/07/17 | Morgan Stanley | CHF | (5,651,776 | ) | (5,687,892 | ) | (5,691,816 | ) | (3,924 | ) | ||||||||||||
Danish Krone Expiring 05/08/17 | Morgan Stanley | DKK | (7,055,184 | ) | (1,015,421 | ) | (1,033,429 | ) | (18,008 | ) | ||||||||||||
Danish Krone Expiring 06/07/17 | Morgan Stanley | DKK | (7,400,430 | ) | (1,085,175 | ) | (1,085,735 | ) | (560 | ) | ||||||||||||
Euro Expiring 05/08/17 | Morgan Stanley | EUR | (18,122,909 | ) | (19,399,351 | ) | (19,743,203 | ) | (343,852 | ) | ||||||||||||
Euro Expiring 06/07/17 | Morgan Stanley | EUR | (18,454,308 | ) | (20,127,948 | ) | (20,135,696 | ) | (7,748 | ) | ||||||||||||
British Pound Expiring 05/08/17 | Morgan Stanley | GBP | (9,310,539 | ) | (11,641,327 | ) | (12,048,365 | ) | (407,038 | ) | ||||||||||||
British Pound Expiring 06/07/17 | Morgan Stanley | GBP | (9,113,564 | ) | (11,804,211 | ) | (11,803,954 | ) | 257 | |||||||||||||
Norwegian Krone Expiring 05/08/17 | Morgan Stanley | NOK | (3,278,636 | ) | (381,529 | ) | (382,768 | ) | (1,239 | ) | ||||||||||||
Norwegian Krone Expiring 06/07/17 | Morgan Stanley | NOK | (3,218,458 | ) | (375,957 | ) | (375,883 | ) | 74 | |||||||||||||
Swedish Krona Expiring 05/08/17 | Morgan Stanley | SEK | (16,179,094 | ) | (1,813,107 | ) | (1,827,958 | ) | (14,851 | ) | ||||||||||||
Swedish Krona Expiring 06/07/17 | Morgan Stanley | SEK | (16,582,043 | ) | (1,874,415 | ) | (1,876,541 | ) | (2,126 | ) | ||||||||||||
$ | (80,778,295 | ) | $ | (81,602,990 | ) | $ | (824,695 | ) | ||||||||||||||
Net Unrealized Appreciation (Depreciation) | $ | (818,653 | ) |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF (continued)
April 30, 2017
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(h) | ||||||||||||||||||
Common Stocks | $ | 80,970,430 | $ | 1,435 | $ | — | $ | 80,971,865 | ||||||||||
Preferred Stocks | 740,991 | — | — | 740,991 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 95,558 | — | — | 95,558 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 2,849,661 | — | — | 2,849,661 | ||||||||||||||
Total Investments in Securities | 84,656,640 | 1,435 | — | 84,658,075 | ||||||||||||||
Other Financial Instruments:(i) | ||||||||||||||||||
Forward Exchange Contracts | — | 8,448 | — | 8,448 | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 84,656,640 | $ | 9,883 | $ | — | $ | 84,666,523 | ||||||||||
Liability Valuation Inputs Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(i) | ||||||||||||||||||
Forward Exchange Contracts | $ | — | $ | 827,101 | $ | — | $ | 827,101 | ||||||||||
Total Other Financial Instruments | $ | — | $ | 827,101 | $ | — | $ | 827,101 |
(h) | For a complete listing of investments and their countries, see the Schedules of Investments. |
(i) | Reflects the unrealized appreciation (depreciation) of the instruments. |
See notes to financial statements.
Shares | Value | |||||||||
Common Stocks — 99.8% | ||||||||||
Consumer Discretionary — 20.1% | ||||||||||
ABC-Mart, Inc. | 204 | $ | 11,328 | |||||||
Adastria Co., Ltd. | 227 | 5,639 | ||||||||
Aisin Seiki Co., Ltd. | 1,553 | 75,929 | ||||||||
Aoyama Trading Co., Ltd. | 388 | 13,853 | ||||||||
Asics Corp. | 1,466 | 25,922 | ||||||||
ASKUL Corp. | 171 | 4,978 | ||||||||
Autobacs Seven Co., Ltd. | 503 | 7,608 | ||||||||
Bandai Namco Holdings, Inc. | 1,624 | 50,918 | ||||||||
Benesse Holdings, Inc. | 579 | 17,479 | ||||||||
Bic Camera, Inc. | 1,244 | 12,376 | ||||||||
Bridgestone Corp. | 5,313 | 221,538 | ||||||||
Canon Marketing Japan, Inc. | 374 | 7,878 | ||||||||
Casio Computer Co., Ltd. | 1,800 | 25,368 | ||||||||
CyberAgent, Inc. | 798 | 24,770 | ||||||||
Daiichikosho Co., Ltd. | 341 | 14,791 | ||||||||
Denso Corp. | 4,105 | 176,728 | ||||||||
Dentsu, Inc. | 1,840 | 103,662 | ||||||||
Don Quijote Holdings Co., Ltd. | 970 | 35,373 | ||||||||
Exedy Corp. | 241 | 6,573 | ||||||||
Fast Retailing Co., Ltd. | 422 | 137,651 | ||||||||
Fujitsu General Ltd. | 457 | 9,696 | ||||||||
H2O Retailing Corp. | 715 | 12,117 | ||||||||
Hakuhodo DY Holdings, Inc. | 1,980 | 24,104 | ||||||||
Haseko Corp. | 2,323 | 26,508 | ||||||||
Heiwa Corp. | 430 | 11,075 | ||||||||
Hikari Tsushin, Inc. | 189 | 18,142 | ||||||||
HIS Co., Ltd. | 281 | 6,700 | ||||||||
Honda Motor Co., Ltd. | 14,835 | 430,131 | ||||||||
Iida Group Holdings Co., Ltd. | 1,164 | 18,525 | ||||||||
Isetan Mitsukoshi Holdings Ltd. | 2,976 | 32,491 | ||||||||
Isuzu Motors Ltd. | 4,517 | 61,269 | ||||||||
Izumi Co., Ltd. | 324 | 16,219 | ||||||||
J Front Retailing Co., Ltd. | 2,062 | 29,690 | ||||||||
Koito Manufacturing Co., Ltd. | 948 | 48,901 | ||||||||
Komeri Co., Ltd. | 230 | 5,641 | ||||||||
K’s Holdings Corp. | 665 | 12,796 | ||||||||
Marui Group Co., Ltd. | 1,768 | 24,204 | ||||||||
Mazda Motor Corp. | 4,698 | 68,866 | ||||||||
Mitsubishi Motors Corp. | 5,197 | 33,242 | ||||||||
NGK Spark Plug Co., Ltd. | 1,586 | 34,304 | ||||||||
NHK Spring Co., Ltd. | 1,328 | 14,808 | ||||||||
Nifco, Inc. | 348 | 17,358 | �� | |||||||
Nikon Corp. | 2,924 | 41,708 | ||||||||
Nissan Motor Co., Ltd. | 16,138 | 153,244 | ||||||||
Nissan Shatai Co., Ltd. | 597 | 5,613 | ||||||||
Nitori Holdings Co., Ltd. | 612 | 79,664 | ||||||||
NOK Corp. | 946 | 22,498 | ||||||||
Oriental Land Co., Ltd. | 1,603 | 92,036 | ||||||||
PanaHome Corp. | 613 | 6,803 | ||||||||
Panasonic Corp. | 17,598 | 210,049 | ||||||||
Rakuten, Inc. | 6,950 | 71,140 | ||||||||
Resorttrust, Inc. | 545 | 9,377 | ||||||||
Rinnai Corp. | 311 | 25,835 | ||||||||
Ryohin Keikaku Co., Ltd. | 198 | 44,655 | ||||||||
Sankyo Co., Ltd. | 421 | 14,673 | ||||||||
Sanrio Co., Ltd. | 489 | 8,936 | ||||||||
Sega Sammy Holdings, Inc. | 1,654 | 22,213 | ||||||||
Sekisui Chemical Co., Ltd. | 3,018 | 50,629 | ||||||||
Sekisui House Ltd. | 4,802 | 79,674 | ||||||||
Sharp Corp.*(a) | 11,975 | 43,186 | ||||||||
Shimachu Co., Ltd. | 387 | 8,947 | ||||||||
Shimamura Co., Ltd. | 181 | 24,779 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Consumer Discretionary (continued) | ||||||||||
Shimano, Inc. | 652 | $ | 99,610 | |||||||
Shochiku Co., Ltd. | 770 | 8,780 | ||||||||
SKY Perfect JSAT Holdings, Inc. | 1,003 | 4,598 | ||||||||
Skylark Co., Ltd. | 784 | 11,858 | ||||||||
Sony Corp. | 10,392 | 350,440 | ||||||||
Stanley Electric Co., Ltd. | 1,248 | 36,498 | ||||||||
Start Today Co., Ltd. | 1,471 | 31,407 | ||||||||
Subaru Corp. | 5,077 | 191,839 | ||||||||
Sumitomo Electric Industries Ltd. | 6,253 | 101,898 | ||||||||
Sumitomo Forestry Co., Ltd. | 1,090 | 16,672 | ||||||||
Sumitomo Rubber Industries Ltd. | 1,485 | 26,697 | ||||||||
Suzuki Motor Corp. | 3,394 | �� | 141,642 | |||||||
Takashimaya Co., Ltd. | 2,467 | 22,707 | ||||||||
Toho Co., Ltd. | 948 | 27,172 | ||||||||
Tokai Rika Co., Ltd. | 405 | 7,524 | ||||||||
Tokyo Broadcasting System Holdings, Inc. | 287 | 5,093 | ||||||||
Toyo Tire & Rubber Co., Ltd. | 828 | 14,529 | ||||||||
Toyoda Gosei Co., Ltd. | 611 | 16,208 | ||||||||
Toyota Boshoku Corp. | 504 | 10,648 | ||||||||
Toyota Industries Corp. | 1,336 | 66,398 | ||||||||
Toyota Motor Corp. | 22,606 | 1,223,892 | ||||||||
TS Tech Co., Ltd. | 420 | 11,013 | ||||||||
TV Asahi Holdings Corp. | 177 | 3,274 | ||||||||
USS Co., Ltd. | 1,790 | 31,635 | ||||||||
Wacoal Holdings Corp. | 1,005 | 12,730 | ||||||||
Yamada Denki Co., Ltd.(a) | 5,930 | 31,121 | ||||||||
Yamaha Corp. | 1,385 | 38,393 | ||||||||
Yamaha Motor Co., Ltd. | 2,323 | 55,038 | ||||||||
Yokohama Rubber Co., Ltd. (The) | 859 | 16,838 | ||||||||
Zensho Holdings Co., Ltd. | 759 | 12,992 | ||||||||
Total Consumer Discretionary | 5,581,952 | |||||||||
Consumer Staples — 8.6% | ||||||||||
Aeon Co., Ltd. | 5,738 | 85,115 | ||||||||
Ain Holdings, Inc. | 164 | 11,358 | ||||||||
Ajinomoto Co., Inc. | 4,190 | 81,530 | ||||||||
Ariake Japan Co., Ltd. | 147 | 9,297 | ||||||||
Asahi Group Holdings Ltd. | 3,144 | 118,602 | ||||||||
Calbee, Inc.(a) | 616 | 21,497 | ||||||||
Coca-Cola Bottlers Japan Inc. | 930 | 27,657 | ||||||||
Cosmos Pharmaceutical Corp. | 72 | 14,578 | ||||||||
Ezaki Glico Co., Ltd. | 430 | 22,644 | ||||||||
FamilyMart UNY Holdings Co., Ltd. | 673 | 38,036 | ||||||||
House Foods Group, Inc. | 610 | 13,560 | ||||||||
Ito En Ltd. | 471 | 17,070 | ||||||||
Itoham Yonekyu Holdings, Inc. | 1,102 | 10,193 | ||||||||
Japan Tobacco, Inc. | 9,925 | 329,973 | ||||||||
Kagome Co., Ltd. | 649 | 17,670 | ||||||||
Kao Corp. | 4,077 | 224,862 | ||||||||
Kewpie Corp. | 932 | 23,695 | ||||||||
Kikkoman Corp. | 1,460 | 44,860 | ||||||||
Kirin Holdings Co., Ltd. | 6,945 | 134,950 | ||||||||
Kobayashi Pharmaceutical Co., Ltd. | 515 | 26,981 | ||||||||
Kose Corp. | 242 | 22,947 | ||||||||
Kusuri no Aoki Holdings Co., Ltd. | 128 | 5,529 | ||||||||
Lawson, Inc. | 397 | 26,355 | ||||||||
Lion Corp. | 2,099 | 37,886 | ||||||||
Matsumotokiyoshi Holdings Co., Ltd. | 323 | 16,198 | ||||||||
Megmilk Snow Brand Co., Ltd. | 341 | 10,172 | ||||||||
MEIJI Holdings Co., Ltd. | 1,133 | 96,153 | ||||||||
Mitsubishi Shokuhin Co., Ltd. | 118 | 3,774 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Japan ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Consumer Staples (continued) | ||||||||||
Morinaga & Co., Ltd./Japan | 334 | $ | 15,791 | |||||||
NH Foods Ltd. | 1,624 | 46,184 | ||||||||
Nichirei Corp. | 914 | 22,754 | ||||||||
Nisshin Seifun Group, Inc. | 2,199 | 33,714 | ||||||||
Nissin Foods Holdings Co., Ltd. | 579 | 33,139 | ||||||||
Pigeon Corp. | 895 | 27,700 | ||||||||
Pola Orbis Holdings, Inc. | 620 | 14,283 | ||||||||
Sapporo Holdings Ltd. | 520 | 14,531 | ||||||||
Seven & i Holdings Co., Ltd. | 6,453 | 272,662 | ||||||||
Shiseido Co., Ltd. | 3,243 | 87,745 | ||||||||
Sugi Holdings Co., Ltd. | 297 | 14,734 | ||||||||
Sundrug Co., Ltd. | 553 | 19,397 | ||||||||
Suntory Beverage & Food Ltd. | 1,052 | 47,046 | ||||||||
Takara Holdings, Inc. | 1,459 | 15,641 | ||||||||
Toyo Suisan Kaisha Ltd. | 755 | 28,312 | ||||||||
Tsuruha Holdings, Inc. | 297 | 30,108 | ||||||||
Unicharm Corp. | 3,177 | 77,195 | ||||||||
Welcia Holdings Co., Ltd. | 414 | 13,333 | ||||||||
Yakult Honsha Co., Ltd.(a) | 851 | 48,402 | ||||||||
Yamazaki Baking Co., Ltd. | 1,061 | 22,358 | ||||||||
Total Consumer Staples | 2,378,171 | |||||||||
Energy — 0.9% | ||||||||||
Cosmo Energy Holdings Co., Ltd. | 538 | 8,528 | ||||||||
Idemitsu Kosan Co., Ltd. | 837 | 26,769 | ||||||||
Inpex Corp. | 7,621 | 73,051 | ||||||||
Japan Petroleum Exploration Co., Ltd. | 254 | 5,558 | ||||||||
JXTG Holdings, Inc. | 26,370 | 119,016 | ||||||||
Showa Shell Sekiyu K.K. | 1,584 | 15,304 | ||||||||
Total Energy | 248,226 | |||||||||
Financials — 13.6% | ||||||||||
77 Bank Ltd. (The) | 2,960 | 12,799 | ||||||||
Acom Co., Ltd.*(a) | 3,227 | 14,330 | ||||||||
AEON Financial Service Co., Ltd. | 960 | 18,439 | ||||||||
Aiful Corp.* | 2,386 | 7,192 | ||||||||
Aozora Bank Ltd. | 9,685 | 35,275 | ||||||||
Aplus Financial Co., Ltd.* | 754 | 730 | ||||||||
Awa Bank Ltd. (The) | 1,583 | 10,452 | ||||||||
Bank of Kyoto Ltd. (The) | 3,023 | 23,919 | ||||||||
Chiba Bank Ltd. (The) | 5,476 | 36,647 | ||||||||
Chugoku Bank Ltd. (The) | 1,436 | 21,307 | ||||||||
Concordia Financial Group Ltd. | 9,929 | 45,623 | ||||||||
Credit Saison Co., Ltd. | 1,330 | 24,209 | ||||||||
Dai-ichi Life Holdings, Inc. | 9,350 | 159,035 | ||||||||
Daishi Bank Ltd. (The) | 2,664 | 10,683 | ||||||||
Daiwa Securities Group, Inc. | 13,999 | 85,059 | ||||||||
Fukuoka Financial Group, Inc. | 6,068 | 27,654 | ||||||||
Gunma Bank Ltd. (The) | 3,563 | 19,114 | ||||||||
Hachijuni Bank Ltd. (The) | 3,408 | 20,117 | ||||||||
Hiroshima Bank Ltd. (The) | 4,858 | 20,963 | ||||||||
Hitachi Capital Corp. | 356 | 8,716 | ||||||||
Hokuhoku Financial Group, Inc. | 1,047 | 16,437 | ||||||||
Iyo Bank Ltd. (The) | 2,240 | 15,895 | ||||||||
Jafco Co., Ltd. | 252 | 8,975 | ||||||||
Japan Exchange Group, Inc. | 4,542 | 63,605 | ||||||||
Japan Post Bank Co., Ltd. | 3,425 | 42,617 | ||||||||
Japan Post Holdings Co., Ltd. | 3,760 | 46,583 | ||||||||
Japan Post Insurance Co., Ltd. | 544 | 12,386 | ||||||||
Juroku Bank Ltd. (The) | 2,894 | 9,191 | ||||||||
Keiyo Bank Ltd. (The) | 1,932 | 8,406 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Financials (continued) | ||||||||||
Kyushu Financial Group, Inc. | 3,208 | $ | 19,973 | |||||||
Matsui Securities Co., Ltd. | 846 | 6,891 | ||||||||
Mebuki Financial Group, Inc. | 8,542 | 33,487 | ||||||||
Mitsubishi UFJ Financial Group, Inc. | 111,099 | 706,840 | ||||||||
Mitsubishi UFJ Lease & Finance Co., Ltd. | 3,617 | 18,885 | ||||||||
Mizuho Financial Group, Inc. | 209,846 | 383,284 | ||||||||
MS&AD Insurance Group Holdings, Inc. | 4,222 | 137,564 | ||||||||
Nishi-Nippon Financial Holdings, Inc. | 1,295 | 12,338 | ||||||||
Nomura Holdings, Inc. | 27,708 | 166,293 | ||||||||
North Pacific Bank Ltd. | 2,304 | 8,784 | ||||||||
Orient Corp. | 4,671 | 8,339 | ||||||||
ORIX Corp. | 10,847 | 165,522 | ||||||||
Resona Holdings, Inc. | 18,066 | 100,451 | ||||||||
San-In Godo Bank Ltd. (The) | 1,257 | 10,217 | ||||||||
SBI Holdings, Inc. | 1,582 | 21,927 | ||||||||
Senshu Ikeda Holdings, Inc. | 2,178 | 9,183 | ||||||||
Seven Bank Ltd. | 5,397 | 18,108 | ||||||||
Shiga Bank Ltd. (The) | 2,081 | 10,865 | ||||||||
Shinsei Bank Ltd. | 13,809 | 25,767 | ||||||||
Shizuoka Bank Ltd. (The) | 4,290 | 36,177 | ||||||||
Sompo Holdings, Inc. | 3,026 | 114,177 | ||||||||
Sony Financial Holdings, Inc. | 1,445 | 24,008 | ||||||||
Sumitomo Mitsui Financial Group, Inc. | 10,745 | 397,527 | ||||||||
Sumitomo Mitsui Trust Holdings, Inc. | 3,130 | 107,179 | ||||||||
Suruga Bank Ltd. | 1,441 | 30,108 | ||||||||
T&D Holdings, Inc. | 5,098 | 75,622 | ||||||||
Tokai Tokyo Financial Holdings, Inc. | 1,892 | 9,573 | ||||||||
Tokio Marine Holdings, Inc. | 5,806 | 244,386 | ||||||||
Tokyo Century Corp. | 383 | 13,194 | ||||||||
Yamaguchi Financial Group, Inc. | 1,881 | 20,823 | ||||||||
Zenkoku Hosho Co., Ltd. | 414 | 14,967 | ||||||||
Total Financials | 3,778,817 | |||||||||
Health Care — 7.6% | ||||||||||
Alfresa Holdings Corp. | 1,493 | 26,935 | ||||||||
Asahi Intecc Co., Ltd. | 402 | 17,851 | ||||||||
Astellas Pharma, Inc. | 17,329 | 228,214 | ||||||||
Chugai Pharmaceutical Co., Ltd. | 1,813 | 64,245 | ||||||||
Daiichi Sankyo Co., Ltd. | 5,376 | 119,268 | ||||||||
Eisai Co., Ltd. | 2,199 | 115,444 | ||||||||
Hisamitsu Pharmaceutical Co., Inc. | 597 | 30,527 | ||||||||
Hoya Corp. | 3,208 | 153,220 | ||||||||
Kaken Pharmaceutical Co., Ltd. | 290 | 17,197 | ||||||||
Kissei Pharmaceutical Co., Ltd. | 266 | 6,939 | ||||||||
KYORIN Holdings, Inc. | 375 | 7,845 | ||||||||
Kyowa Hakko Kirin Co., Ltd. | 2,136 | 36,638 | ||||||||
M3, Inc. | 1,666 | 42,580 | ||||||||
Medipal Holdings Corp. | 1,316 | 21,770 | ||||||||
Miraca Holdings, Inc. | 427 | 19,689 | ||||||||
Mitsubishi Tanabe Pharma Corp. | 1,865 | 37,845 | ||||||||
Mochida Pharmaceutical Co., Ltd. | 110 | 8,289 | ||||||||
Nihon Kohden Corp. | 614 | 13,886 | ||||||||
Nippon Shinyaku Co., Ltd. | 425 | 22,571 | ||||||||
Nipro Corp. | 973 | 14,752 | ||||||||
Olympus Corp. | 2,322 | 89,364 | ||||||||
Ono Pharmaceutical Co., Ltd. | 3,771 | 77,707 | ||||||||
Otsuka Holdings Co., Ltd. | 3,496 | 160,797 | ||||||||
PeptiDream, Inc.* | 326 | 19,507 | ||||||||
Rohto Pharmaceutical Co., Ltd. | 796 | 14,846 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Japan ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Health Care (continued) | ||||||||||
Santen Pharmaceutical Co., Ltd. | 3,000 | $ | 42,173 | |||||||
Sawai Pharmaceutical Co., Ltd. | 266 | 14,533 | ||||||||
Shionogi & Co., Ltd. | 2,400 | 123,434 | ||||||||
Sumitomo Dainippon Pharma Co., Ltd. | 1,322 | 21,680 | ||||||||
Suzuken Co., Ltd. | 674 | 22,281 | ||||||||
Sysmex Corp. | 1,185 | 72,076 | ||||||||
Taisho Pharmaceutical Holdings Co., Ltd. | 378 | 31,062 | ||||||||
Takeda Pharmaceutical Co., Ltd. | 6,329 | 303,306 | ||||||||
Terumo Corp. | 2,533 | 92,371 | ||||||||
Tsumura & Co. | 544 | 17,593 | ||||||||
Total Health Care | 2,108,435 | |||||||||
Industrials — 21.1% | ||||||||||
Amada Holdings Co., Ltd. | 2,698 | 32,046 | ||||||||
ANA Holdings, Inc. | 9,718 | 29,249 | ||||||||
Asahi Glass Co., Ltd. | 7,937 | 68,782 | ||||||||
Central Japan Railway Co. | 1,498 | 251,100 | ||||||||
Chiyoda Corp. | 1,265 | 8,409 | ||||||||
COMSYS Holdings Corp. | 906 | 17,247 | ||||||||
Dai Nippon Printing Co., Ltd. | 5,012 | 55,754 | ||||||||
Daifuku Co., Ltd. | 778 | 19,661 | ||||||||
Daikin Industries Ltd. | 2,207 | 214,325 | ||||||||
DMG Mori Co., Ltd. | 821 | 13,537 | ||||||||
East Japan Railway Co. | 3,090 | 275,930 | ||||||||
Ebara Corp. | 818 | 24,914 | ||||||||
FANUC Corp. | 1,619 | 329,043 | ||||||||
Fuji Electric Co., Ltd. | 4,746 | 26,014 | ||||||||
Fujikura Ltd. | 2,257 | 16,947 | ||||||||
Fukuyama Transporting Co., Ltd. | 1,293 | 7,864 | ||||||||
Furukawa Electric Co., Ltd. | 506 | 20,472 | ||||||||
Glory Ltd. | 458 | 15,367 | ||||||||
GS Yuasa Corp. | 3,203 | 14,827 | ||||||||
Hankyu Hanshin Holdings, Inc. | 1,889 | 62,362 | ||||||||
Hino Motors Ltd. | 2,242 | 28,098 | ||||||||
Hitachi Construction Machinery Co., Ltd. | 865 | 22,279 | ||||||||
Hitachi Transport System Ltd. | 359 | 7,630 | ||||||||
Hoshizaki Corp. | 437 | 36,420 | ||||||||
IHI Corp.* | 10,766 | 36,508 | ||||||||
ITOCHU Corp. | 11,898 | 168,218 | ||||||||
Japan Airlines Co., Ltd. | 355 | 11,210 | ||||||||
Japan Airport Terminal Co., Ltd.(a) | 381 | 13,228 | ||||||||
Japan Steel Works Ltd. (The) | 511 | 8,197 | ||||||||
JGC Corp. | 1,802 | 31,442 | ||||||||
JTEKT Corp. | 1,875 | 29,503 | ||||||||
Kajima Corp. | 7,587 | 51,524 | ||||||||
Kamigumi Co., Ltd. | 1,754 | 15,924 | ||||||||
Kandenko Co., Ltd. | 863 | 8,578 | ||||||||
Kawasaki Heavy Industries Ltd. | 11,990 | 36,249 | ||||||||
Kawasaki Kisen Kaisha Ltd.* | 6,811 | 17,903 | ||||||||
Keihan Holdings Co., Ltd. | 4,080 | 25,658 | ||||||||
Keikyu Corp. | 4,122 | 47,296 | ||||||||
Keio Corp. | 4,766 | 38,138 | ||||||||
Keisei Electric Railway Co., Ltd. | 1,167 | 27,754 | ||||||||
Kinden Corp. | 1,074 | 16,254 | ||||||||
Kintetsu Group Holdings Co., Ltd. | 14,999 | 54,764 | ||||||||
Komatsu Ltd. | 7,796 | 207,856 | ||||||||
Kubota Corp. | 9,305 | 146,332 | ||||||||
Kurita Water Industries Ltd. | 946 | 24,407 | ||||||||
Kyudenko Corp. | 320 | 9,172 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Industrials (continued) | ||||||||||
Kyushu Railway Co. | 1,329 | $ | 41,669 | |||||||
LIXIL Group Corp. | 2,164 | 54,027 | ||||||||
Mabuchi Motor Co., Ltd. | 437 | 24,659 | ||||||||
Maeda Road Construction Co., Ltd. | 476 | 8,771 | ||||||||
Makita Corp. | 2,021 | 72,069 | ||||||||
Marubeni Corp. | 12,917 | 79,539 | ||||||||
MINEBEA MITSUMI, Inc. | 3,503 | 50,626 | ||||||||
MISUMI Group, Inc. | 2,231 | 42,250 | ||||||||
Mitsubishi Corp. | 10,610 | 228,771 | ||||||||
Mitsubishi Electric Corp. | 16,342 | 227,823 | ||||||||
Mitsubishi Heavy Industries Ltd. | 23,718 | 94,898 | ||||||||
Mitsubishi Logistics Corp. | 1,116 | 14,417 | ||||||||
Mitsui & Co., Ltd. | 13,867 | 195,683 | ||||||||
Mitsui Engineering & Shipbuilding Co., Ltd. | 6,061 | 9,298 | ||||||||
Mitsui OSK Lines Ltd. | 9,309 | 28,477 | ||||||||
Miura Co., Ltd. | 806 | 13,500 | ||||||||
MonotaRO Co., Ltd. | 477 | 15,512 | ||||||||
Nabtesco Corp. | 969 | 27,470 | ||||||||
Nagase & Co., Ltd. | 915 | 13,257 | ||||||||
Nagoya Railroad Co., Ltd.(a) | 7,559 | 34,720 | ||||||||
Nankai Electric Railway Co., Ltd. | 4,519 | 22,216 | ||||||||
NGK Insulators Ltd. | 2,216 | 47,334 | ||||||||
Nidec Corp. | 2,005 | 183,826 | ||||||||
Nihon M&A Center, Inc. | 520 | 17,773 | ||||||||
Nippo Corp. | 423 | 8,144 | ||||||||
Nippon Express Co., Ltd. | 6,090 | 33,436 | ||||||||
Nippon Yusen K.K.* | 13,415 | 26,958 | ||||||||
Nishi-Nippon Railroad Co., Ltd. | 3,139 | 13,263 | ||||||||
Nisshinbo Holdings, Inc. | 1,046 | 10,688 | ||||||||
NSK Ltd. | 3,764 | 51,326 | ||||||||
NTN Corp. | 3,510 | 17,854 | ||||||||
Obayashi Corp. | 5,632 | 54,617 | ||||||||
Odakyu Electric Railway Co., Ltd. | 2,545 | 49,361 | ||||||||
OKUMA Corp. | 1,241 | 12,992 | ||||||||
OSG Corp. | 591 | 12,168 | ||||||||
Park24 Co., Ltd. | 856 | 22,078 | ||||||||
Pilot Corp. | 243 | 9,864 | ||||||||
Recruit Holdings Co., Ltd. | 2,684 | 135,560 | ||||||||
Sanwa Holdings Corp. | 1,659 | 16,714 | ||||||||
Secom Co., Ltd. | 1,607 | 116,571 | ||||||||
Seibu Holdings, Inc. | 2,073 | 36,190 | ||||||||
Seino Holdings Co., Ltd. | 1,228 | 14,222 | ||||||||
Shimizu Corp. | 4,714 | 45,207 | ||||||||
SMC Corp. | 484 | 136,295 | ||||||||
Sohgo Security Services Co., Ltd. | 564 | 24,615 | ||||||||
Sojitz Corp. | 10,392 | 26,383 | ||||||||
Sotetsu Holdings, Inc. | 3,194 | 14,842 | ||||||||
Sumitomo Corp. | 9,311 | 124,333 | ||||||||
Sumitomo Heavy Industries Ltd. | 4,695 | 32,726 | ||||||||
Tadano Ltd. | 939 | 12,113 | ||||||||
Taisei Corp. | 8,866 | 67,607 | ||||||||
Temp Holdings Co., Ltd. | 1,419 | 26,707 | ||||||||
THK Co., Ltd. | 946 | 24,365 | ||||||||
Tobu Railway Co., Ltd. | 8,395 | 42,551 | ||||||||
Toda Corp. | 1,898 | 11,715 | ||||||||
Tokyu Corp. | 8,224 | 58,875 | ||||||||
Toppan Forms Co., Ltd. | 329 | 3,317 | ||||||||
Toppan Printing Co., Ltd. | 4,307 | 43,313 | ||||||||
Toshiba Corp.*(a) | 31,669 | 64,037 | ||||||||
TOTO Ltd. | 1,188 | 45,348 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Japan ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Industrials (continued) | ||||||||||
Toyota Tsusho Corp. | 1,873 | $ | 59,062 | |||||||
Ushio, Inc. | 969 | 12,170 | ||||||||
West Japan Railway Co. | 1,522 | 101,640 | ||||||||
Yamato Holdings Co., Ltd. | 2,955 | 63,848 | ||||||||
Total Industrials | 5,856,052 | |||||||||
Information Technology — 11.2% | ||||||||||
Advantest Corp. | 1,450 | 27,070 | ||||||||
Alps Electric Co., Ltd. | 1,562 | 45,892 | ||||||||
Azbil Corp. | 531 | 17,864 | ||||||||
Brother Industries Ltd. | 1,962 | 40,324 | ||||||||
Canon, Inc. | 8,672 | 287,537 | ||||||||
Capcom Co., Ltd.(a) | 383 | 8,260 | ||||||||
Citizen Watch Co., Ltd. | 2,228 | 14,771 | ||||||||
COLOPL, Inc. | 378 | 3,489 | ||||||||
COOKPAD, Inc. | 369 | 2,936 | ||||||||
DeNA Co., Ltd. | 871 | 18,651 | ||||||||
Disco Corp. | 228 | 36,040 | ||||||||
FUJIFILM Holdings Corp. | 3,236 | 120,011 | ||||||||
Fujitsu Ltd. | 16,268 | 101,400 | ||||||||
GMO Payment Gateway, Inc. | 135 | 6,055 | ||||||||
Gree, Inc. | 765 | 6,142 | ||||||||
GungHo Online Entertainment, Inc. | 3,106 | 6,966 | ||||||||
Hamamatsu Photonics K.K. | 1,084 | 31,848 | ||||||||
Hirose Electric Co., Ltd. | 267 | 35,857 | ||||||||
Hitachi High-Technologies Corp. | 538 | 21,453 | ||||||||
Hitachi Kokusai Electric, Inc. | 406 | 9,106 | ||||||||
Hitachi Ltd. | 38,364 | 211,696 | ||||||||
Horiba Ltd. | 319 | 18,802 | ||||||||
Ibiden Co., Ltd. | 844 | 14,840 | ||||||||
Itochu Techno-Solutions Corp. | 381 | 11,091 | ||||||||
Japan Aviation Electronics Industry Ltd. | 374 | 5,113 | ||||||||
Japan Display, Inc.* | 2,924 | 6,610 | ||||||||
Kakaku.com, Inc. | 1,127 | 16,247 | ||||||||
Keyence Corp. | 754 | 303,034 | ||||||||
Koei Tecmo Holdings Co., Ltd. | 398 | 8,069 | ||||||||
Konami Holdings Corp. | 786 | 32,682 | ||||||||
Konica Minolta, Inc. | 3,743 | 33,075 | ||||||||
Kyocera Corp. | 2,580 | 146,047 | ||||||||
LINE Corp.*(a) | 304 | 10,541 | ||||||||
Murata Manufacturing Co., Ltd. | 1,566 | 209,957 | ||||||||
NEC Corp. | 21,629 | 53,748 | ||||||||
Nexon Co., Ltd. | 1,109 | 18,853 | ||||||||
Nintendo Co., Ltd. | 894 | 224,924 | ||||||||
Nippon Electric Glass Co., Ltd. | 3,430 | 21,263 | ||||||||
Nomura Research Institute Ltd. | 909 | 31,640 | ||||||||
NS Solutions Corp. | 268 | 5,866 | ||||||||
NTT Data Corp. | 1,048 | 48,606 | ||||||||
OBIC Business Consultants Co., Ltd. | 62 | 3,048 | ||||||||
Obic Co., Ltd. | 555 | 29,973 | ||||||||
Omron Corp. | 1,627 | 68,090 | ||||||||
Oracle Corp. Japan | 275 | 15,838 | ||||||||
Otsuka Corp. | 426 | 22,815 | ||||||||
Ricoh Co., Ltd. | 5,658 | 47,103 | ||||||||
Rohm Co., Ltd. | 738 | 51,773 | ||||||||
SCREEN Holdings Co., Ltd. | 329 | 23,877 | ||||||||
SCSK Corp. | 351 | 14,123 | ||||||||
Seiko Epson Corp. | 2,312 | 47,290 | ||||||||
Shimadzu Corp. | 2,237 | 37,929 | ||||||||
Square Enix Holdings Co., Ltd. | 653 | 18,804 | ||||||||
Sumco Corp. | 1,792 | 31,332 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Information Technology (continued) | ||||||||||
Taiyo Yuden Co., Ltd. | 912 | $ | 11,119 | |||||||
TDK Corp. | 994 | 61,529 | ||||||||
TIS, Inc. | 667 | 16,808 | ||||||||
Tokyo Electron Ltd. | 1,291 | 150,155 | ||||||||
Topcon Corp. | 856 | 15,105 | ||||||||
Trend Micro, Inc. | 951 | 41,804 | ||||||||
Yahoo Japan Corp. | 10,871 | 46,519 | ||||||||
Yaskawa Electric Corp. | 1,830 | 34,952 | ||||||||
Yokogawa Electric Corp. | 2,030 | 31,341 | ||||||||
Total Information Technology | 3,095,703 | |||||||||
Materials — 6.9% | ||||||||||
Air Water, Inc. | 1,271 | 24,469 | ||||||||
Asahi Kasei Corp. | 10,327 | 98,434 | ||||||||
Daicel Corp. | 2,472 | 28,364 | ||||||||
Daido Steel Co., Ltd. | 2,903 | 16,173 | ||||||||
Denka Co., Ltd. | 3,674 | 18,919 | ||||||||
DIC Corp. | 677 | 24,081 | ||||||||
Dowa Holdings Co., Ltd. | 1,878 | 13,984 | ||||||||
FP Corp. | 191 | 9,081 | ||||||||
Hitachi Chemical Co., Ltd. | 860 | 24,611 | ||||||||
Hitachi Metals Ltd. | 1,633 | 22,868 | ||||||||
JFE Holdings, Inc. | 4,252 | 72,494 | ||||||||
JSR Corp. | 1,552 | 28,347 | ||||||||
Kaneka Corp. | 2,390 | 18,825 | ||||||||
Kansai Paint Co., Ltd. | 1,603 | 35,491 | ||||||||
Kobe Steel Ltd.*(a) | 2,468 | 21,919 | ||||||||
Kuraray Co., Ltd. | 2,914 | 47,003 | ||||||||
Lintec Corp. | 410 | 9,026 | ||||||||
Maruichi Steel Tube Ltd. | 511 | 14,486 | ||||||||
Mitsubishi Chemical Holdings Corp. | 10,906 | 85,344 | ||||||||
Mitsubishi Gas Chemical Co., Inc. | 1,559 | 33,314 | ||||||||
Mitsubishi Materials Corp. | 1,037 | 30,839 | ||||||||
Mitsui Chemicals, Inc. | 7,562 | 38,668 | ||||||||
Nippon Kayaku Co., Ltd. | 1,396 | 19,061 | ||||||||
Nippon Paint Holdings Co., Ltd. | 1,278 | 49,013 | ||||||||
Nippon Paper Industries Co., Ltd. | 776 | 14,668 | ||||||||
Nippon Shokubai Co., Ltd. | 263 | 17,672 | ||||||||
Nippon Steel & Sumitomo Metal Corp. | 6,498 | 146,346 | ||||||||
Nissan Chemical Industries Ltd. | 1,167 | 36,171 | ||||||||
Nisshin Steel Co., Ltd. | 380 | 4,643 | ||||||||
Nitto Denko Corp. | 1,275 | 95,954 | ||||||||
Oji Holdings Corp. | 7,303 | 35,313 | ||||||||
Rengo Co., Ltd. | 1,714 | 10,364 | ||||||||
Shin-Etsu Chemical Co., Ltd. | 3,409 | 296,158 | ||||||||
Showa Denko K.K.* | 1,056 | 20,160 | ||||||||
Sumitomo Chemical Co., Ltd. | 12,574 | 70,952 | ||||||||
Sumitomo Metal Mining Co., Ltd. | 3,940 | 53,425 | ||||||||
Sumitomo Osaka Cement Co., Ltd. | 3,086 | 13,399 | ||||||||
Taiheiyo Cement Corp. | 10,042 | 33,422 | ||||||||
Taiyo Nippon Sanso Corp. | 1,178 | 14,066 | ||||||||
Teijin Ltd. | 1,472 | 28,510 | ||||||||
Toray Industries, Inc. | 12,564 | 111,145 | ||||||||
Tosoh Corp. | 4,740 | 44,521 | ||||||||
Toyo Seikan Group Holdings Ltd. | 1,331 | 22,269 | ||||||||
Toyobo Co., Ltd. | 7,337 | 12,967 | ||||||||
Ube Industries Ltd. | 8,787 | 20,417 | ||||||||
Yamato Kogyo Co., Ltd. | 286 | 7,153 | ||||||||
Zeon Corp. | 1,207 | 13,741 | ||||||||
Total Materials | 1,908,250 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Japan ETF (continued)
April 30, 2017
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Real Estate — 3.1% | ||||||||||
Aeon Mall Co., Ltd. | 974 | $ | 16,541 | |||||||
Daikyo, Inc. | 2,423 | 5,043 | ||||||||
Daito Trust Construction Co., Ltd. | 601 | 88,422 | ||||||||
Daiwa House Industry Co., Ltd. | 5,344 | 158,733 | ||||||||
Hulic Co., Ltd. | 2,954 | 27,825 | ||||||||
Ichigo, Inc. | 1,695 | 4,927 | ||||||||
Leopalace21 Corp. | 2,021 | 10,733 | ||||||||
Mitsubishi Estate Co., Ltd. | 9,777 | 186,822 | ||||||||
Mitsui Fudosan Co., Ltd. | 7,848 | 172,456 | ||||||||
Nomura Real Estate Holdings, Inc. | 988 | 16,690 | ||||||||
NTT Urban Development Corp. | 895 | 8,069 | ||||||||
Relo Group, Inc. | 859 | 14,102 | ||||||||
Sumitomo Real Estate Sales Co., Ltd. | 123 | 3,961 | ||||||||
Sumitomo Realty & Development Co., Ltd. | 3,584 | 96,649 | ||||||||
Tokyo Tatemono Co., Ltd. | 1,708 | 23,306 | ||||||||
Tokyu Fudosan Holdings Corp. | 4,297 | 23,438 | ||||||||
Total Real Estate | 857,717 | |||||||||
Telecommunication Services — 4.6% | ||||||||||
KDDI Corp. | 15,348 | 406,935 | ||||||||
Nippon Telegraph & Telephone Corp. | 2,000 | 85,565 | ||||||||
NTT DOCOMO, Inc. | 10,726 | 258,648 | ||||||||
SoftBank Group Corp. | 7,116 | 538,919 | ||||||||
Total Telecommunication Services | 1,290,067 | |||||||||
Utilities — 2.1% | ||||||||||
Chubu Electric Power Co., Inc. | 5,870 | 78,858 | ||||||||
Chugoku Electric Power Co., Inc. (The) | 2,401 | 26,171 | ||||||||
Electric Power Development Co., Ltd. | 1,368 | 31,724 | ||||||||
Hokkaido Electric Power Co., Inc. | 1,457 | 10,574 | ||||||||
Hokuriku Electric Power Co. | 1,403 | 12,964 | ||||||||
Kansai Electric Power Co., Inc. (The) | 6,061 | 81,941 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Utilities (continued) | ||||||||||
Kyushu Electric Power Co., Inc. | 3,859 | $ | 41,612 | |||||||
Osaka Gas Co., Ltd. | 16,435 | 61,526 | ||||||||
Shikoku Electric Power Co., Inc. | 1,273 | 15,292 | ||||||||
Toho Gas Co., Ltd. | 3,769 | 26,948 | ||||||||
Tohoku Electric Power Co., Inc. | 3,967 | 52,884 | ||||||||
Tokyo Electric Power Co. Holdings, Inc.* | 12,944 | 50,280 | ||||||||
Tokyo Gas Co., Ltd. | 17,286 | 80,250 | ||||||||
Total Utilities | 571,024 | |||||||||
Total Common Stocks (Cost $26,048,088) | 27,674,414 | |||||||||
Investment of Cash Collateral For Securities Loaned — 0.6% | ||||||||||
Money Market Fund — 0.6% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(b) (Cost $161,066) | 161,066 | 161,066 | ||||||||
Total Investments — 100.4% (Cost $26,209,154) | 27,835,480 | |||||||||
Other Assets and Liabilities, Net — (0.4)% | (95,749 | ) | ||||||||
Net Assets — 100.0% | $ | 27,739,731 |
* | Non-income producing securities. |
(a) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $294,596; total market value of collateral held by the Fund was $312,708. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $151,642. |
(b) | Reflects the 1-day yield at April 30, 2017. |
Purchase Contracts | Counterparty | Currency | Currency Amount Purchased | Value at Settlement Date | Value at April 30, 2017 | Unrealized Appreciation (Depreciation) | ||||||||||||||||
Japanese Yen Expiring 05/08/17 | Merrill Lynch | JPY | 1,526,968,348 | $ | 13,695,066 | $ | 13,702,625 | $ | 7,559 | |||||||||||||
$ | 13,695,066 | $ | 13,702,625 | $ | 7,559 | |||||||||||||||||
Sales Contracts | Counterparty | Currency | Currency Amount Sold | Value at Settlement Date | Value at April 30, 2017 | Unrealized Appreciation (Depreciation) | ||||||||||||||||
Japanese Yen Expiring 05/08/17 | Merrill Lynch | JPY | (1,526,968,348 | ) | $ | (13,720,477 | ) | $ | (13,702,625 | ) | $ | 17,852 | ||||||||||
Japanese Yen Expiring 06/07/17 | Merrill Lynch | JPY | (1,542,433,474 | ) | (13,848,749 | ) | (13,857,980 | ) | (9,231 | ) | ||||||||||||
$ | (27,569,226 | ) | $ | (27,560,605 | ) | $ | 8,621 | |||||||||||||||
Net Unrealized Appreciation (Depreciation) | $ | 16,180 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Japan ETF (continued)
April 30, 2017
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(c) | ||||||||||||||||||
Common Stocks | $ | 27,674,414 | $ | — | $ | — | $ | 27,674,414 | ||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 161,066 | — | — | 161,066 | ||||||||||||||
Total Investments in Securities | 27,835,480 | — | — | 27,835,480 | ||||||||||||||
Other Financial Instruments:(d) | ||||||||||||||||||
Forward Exchange Contracts | — | 25,411 | — | 25,411 | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 27,835,480 | $ | 25,411 | $ | — | $ | 27,860,891 | ||||||||||
Liability Valuation Inputs Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(d) | ||||||||||||||||||
Forward Exchange Contracts | $ | — | $ | 9,231 | $ | — | $ | 9,231 | ||||||||||
Total Other Financial Instruments | $ | — | $ | 9,231 | $ | — | $ | 9,231 |
(c) | For a complete listing of investments and their industries, see the Schedules of Investments. |
(d) | Reflects the unrealized appreciation (depreciation) of the instruments. |
See notes to financial statements.
Shares | Value | |||||||||
Investment Companies — 99.8% | ||||||||||
Aggregate Bond Funds — 2.3% | ||||||||||
iShares Core U.S. Aggregate Bond ETF | 4,071 | $ | 444,757 | |||||||
SPDR Bloomberg Barclays Aggregate Bond ETF | 202 | 11,613 | ||||||||
Vanguard Total Bond Market ETF | 4,157 | 339,003 | ||||||||
Total Aggregate Bond Funds | 795,373 | |||||||||
Emerging Equity Funds — 7.1% | ||||||||||
iShares Core MSCI Emerging Markets ETF | 12,395 | 603,637 | ||||||||
iShares MSCI Emerging Markets ETF(a) | 16,688 | 668,521 | ||||||||
Vanguard FTSE Emerging Markets ETF | 28,377 | 1,144,728 | ||||||||
Total Emerging Equity Funds | 2,416,886 | |||||||||
High Yield Corporate Bond Funds — 26.5% | ||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF(a) | 63,802 | 5,622,232 | ||||||||
SPDR Bloomberg Barclays High Yield Bond ETF(a) | 93,171 | 3,460,371 | ||||||||
Total High Yield Corporate Bond Funds | 9,082,603 | |||||||||
International Equity Core Funds — 22.8% | ||||||||||
iShares Core MSCI EAFE ETF | 20,482 | 1,219,089 | ||||||||
iShares MSCI EAFE ETF(b) | 60,705 | 3,872,979 | ||||||||
Vanguard FTSE Developed Markets ETF(a) | 67,979 | 2,730,716 | ||||||||
Total International Equity Core Funds | 7,822,784 | |||||||||
Investment Grade Corporate Bond Funds — 8.3% | ||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF(a) | 23,177 | 2,757,831 | ||||||||
iShares U.S. Credit Bond ETF | 624 | 69,090 | ||||||||
Total Investment Grade Corporate Bond Funds | 2,826,921 | |||||||||
U.S. Large Cap Core Funds — 21.4% | ||||||||||
Consumer Discretionary Select Sector SPDR Fund | 11,145 | 1,003,719 | ||||||||
Financial Select Sector SPDR Fund | 19,952 | 469,471 | ||||||||
Health Care Select Sector SPDR Fund | 20,624 | 1,557,112 | ||||||||
Materials Select Sector SPDR Fund(a) | 10,221 | 542,428 | ||||||||
Technology Select Sector SPDR Fund | 27,615 | 1,501,704 | ||||||||
Vanguard Consumer Discretionary ETF | 1,255 | 178,059 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
U.S. Large Cap Core Funds (continued) | ||||||||||
Vanguard Financials ETF | 1,899 | $ | 114,054 | |||||||
Vanguard Health Care ETF(a) | 4,248 | 595,272 | ||||||||
Vanguard Information Technology ETF(a) | 7,777 | 1,079,448 | ||||||||
Vanguard Materials ETF | 2,485 | 298,796 | ||||||||
Total U.S. Large Cap Core Funds | 7,340,063 | |||||||||
U.S. Medium Term Treasury Bond Fund — 8.8% | ||||||||||
iShares 7-10 Year Treasury Bond ETF(a) | 28,330 | 3,019,978 | ||||||||
U.S. Small Cap Core Funds — 2.6% | ||||||||||
iShares Russell 2000 ETF | 6,152 | 855,497 | ||||||||
Vanguard Russell 2000 ETF(a) | 198 | 22,099 | ||||||||
Total U.S. Small Cap Core Funds | 877,596 | |||||||||
Total Investment Companies (Cost $32,358,492) | 34,182,204 | |||||||||
Short-Term Investment — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 0.61%(c) (Cost $50,365) | 50,365 | 50,365 | ||||||||
Investment of Cash Collateral For Securities Loaned — 23.2% | ||||||||||
Money Market Fund — 23.2% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(d) (Cost $7,929,366) | 7,929,366 | 7,929,366 | ||||||||
Total Investments — 123.1% (Cost $40,338,223) | 42,161,935 | |||||||||
Other Assets and Liabilities, Net — (23.1)% | (7,922,165 | ) | ||||||||
Net Assets — 100.0% | $ | 34,239,770 |
(a) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $8,187,870; total market value of collateral held by the Fund was $8,374,277. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $444,911. |
(b) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $472,120. |
(c) | Reflects the 7-day yield at April 30, 2017. |
(d) | Reflects the 1-day yield at April 30, 2017. |
See notes to financial statements.
Schedules of Investments — IQ Leaders GTAA Tracker ETF (continued)
April 30, 2017
Total Return Benchmark | Annual Financing Rate (Received) Paid % | Expiration Date | Notional Amount Long (Short) | Unrealized Appreciation (Depreciation)(e) | ||||||||||||||
Consumer Discretionary Select Sector SPDR Fund | 1.91 | 10/04/2017 | $ | 128,065 | $ | — | ||||||||||||
Consumer Staples Select Sector SPDR Fund | (0.15 | ) | 10/04/2017 | (359,608 | ) | — | ||||||||||||
Energy Select Sector SPDR Fund | 0.01 | 10/04/2017 | (65,533 | ) | — | |||||||||||||
Energy Select Sector SPDR Fund | 1.91 | 10/04/2017 | 2,578 | — | ||||||||||||||
Financial Select Sector SPDR Fund | 1.91 | 10/04/2017 | 59,931 | — | ||||||||||||||
Health Care Select Sector SPDR Fund | 1.91 | 10/04/2017 | 198,716 | — | ||||||||||||||
Industrial Select Sector SPDR Fund | 1.91 | 10/04/2017 | 30,782 | — | ||||||||||||||
Industrial Select Sector SPDR Fund | 0.02 | 10/04/2017 | (248,974 | ) | — | |||||||||||||
iShares 7-10 Year Treasury Bond ETF | 1.91 | 10/04/2017 | 385,466 | — | ||||||||||||||
iShares Core MSCI EAFE ETF | 1.91 | 10/04/2017 | 155,585 | — | ||||||||||||||
iShares Core MSCI Emerging Markets ETF | 1.91 | 10/04/2017 | 77,043 | — | ||||||||||||||
iShares Core U.S. Aggregate Bond ETF | 1.91 | 10/04/2017 | 56,810 | — | ||||||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF | 1.91 | 10/04/2017 | 717,561 | — | ||||||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | 1.91 | 10/04/2017 | 351,972 | — | ||||||||||||||
iShares MSCI EAFE ETF | 1.91 | 10/04/2017 | 494,322 | — | ||||||||||||||
iShares MSCI Emerging Markets ETF | 1.91 | 10/04/2017 | 85,328 | — | ||||||||||||||
iShares Russell 2000 ETF | — | 10/04/2017 | (85,105 | ) | — | |||||||||||||
iShares Russell 2000 ETF | 1.91 | 10/04/2017 | 194,267 | — | ||||||||||||||
iShares U.S. Credit Bond ETF | 1.91 | 10/04/2017 | 8,858 | — | ||||||||||||||
Materials Select Sector SPDR Fund | 1.91 | 10/04/2017 | 82,365 | — | ||||||||||||||
Materials Select Sector SPDR Fund | 0.10 | 10/04/2017 | (13,108 | ) | — | |||||||||||||
SPDR Bloomberg Barclays Aggregate Bond ETF | 1.91 | 10/04/2017 | 1,495 | — | ||||||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF | (1.24 | ) | 10/04/2017 | (1,709,721 | ) | — | ||||||||||||
SPDR Bloomberg Barclays High Yield Bond ETF | 1.91 | 10/04/2017 | 441,632 | — | ||||||||||||||
Technology Select Sector SPDR Fund | 1.91 | 10/04/2017 | 191,690 | — | ||||||||||||||
Utilities Select Sector SPDR Fund | (0.20 | ) | 10/04/2017 | (296,499 | ) | — | ||||||||||||
Vanguard Consumer Discretionary ETF | 1.91 | 10/04/2017 | 22,701 | — | ||||||||||||||
Vanguard Financials ETF | 1.91 | 10/04/2017 | 14,535 | — | ||||||||||||||
Vanguard FTSE Developed Markets ETF | 1.91 | 10/04/2017 | 348,515 | — | ||||||||||||||
Vanguard FTSE Emerging Markets ETF | 1.91 | 10/04/2017 | 146,111 | — | ||||||||||||||
Vanguard Health Care ETF | 1.91 | 10/04/2017 | 75,950 | — | ||||||||||||||
Vanguard Information Technology ETF | 1.91 | 10/04/2017 | 137,828 | — | ||||||||||||||
Vanguard Materials ETF | 1.91 | 10/04/2017 | 38,116 | — | ||||||||||||||
Vanguard REIT ETF | 0.04 | 10/04/2017 | (1,690,655 | ) | — | |||||||||||||
Vanguard Russell 2000 ETF | 1.91 | 10/04/2017 | 2,790 | — | ||||||||||||||
Vanguard Total Bond Market ETF | 1.91 | 10/04/2017 | 43,303 | — | ||||||||||||||
$ | — |
(e) | Reflects a reset date of April 30, 2017. |
See notes to financial statements.
Schedules of Investments — IQ Leaders GTAA Tracker ETF (continued)
April 30, 2017
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(f) | ||||||||||||||||||
Investment Companies | $ | 34,182,204 | $ | — | $ | — | $ | 34,182,204 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 50,365 | — | — | 50,365 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 7,929,366 | — | — | 7,929,366 | ||||||||||||||
Total Investments in Securities | 42,161,935 | — | — | 42,161,935 | ||||||||||||||
Other Financial Instruments:(g) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 42,161,935 | $ | — | $ | — | $ | 42,161,935 | ||||||||||
Liability Valuation Inputs Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(g) | ||||||||||||||||||
Swap Contracts | $ | — | $ | — | $ | — | $ | — | ||||||||||
Total Other Financial Instruments | $ | — | $ | — | $ | — | $ | — |
(f) | For a complete listing of investments and their industries, see the Schedules of Investments. |
(g) | Reflects the unrealized appreciation (depreciation) of the instruments. |
See notes to financial statements.
Shares | Value | |||||||||
Investment Companies — 100.0% | ||||||||||
Investment Grade Corporate Bond Funds — 50.2% | ||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF(a) | 145,024 | $ | 17,256,406 | |||||||
iShares U.S. Credit Bond ETF | 6,586 | 729,202 | ||||||||
Vanguard Intermediate-Term Corporate Bond ETF(a) | 221,080 | 19,267,122 | ||||||||
Total Investment Grade Corporate Bond Funds | 37,252,730 | |||||||||
U.S. Short Term Treasury Bond Funds — 49.8% | ||||||||||
iShares 1-3 Year Treasury Bond ETF(a) | 124,807 | 10,561,168 | ||||||||
Schwab Short-Term U.S. Treasury ETF | 522,626 | 26,382,160 | ||||||||
Total U.S. Short Term Treasury Bond Funds | 36,943,328 | |||||||||
Total Investment Companies (Cost $74,714,935) | 74,196,058 | |||||||||
Short-Term Investment — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 0.61%(b) (Cost $48,320) | 48,320 | 48,320 | ||||||||
Shares | Value | |||||||||
Investment of Cash Collateral For Securities Loaned — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(c) (Cost $43,750) | 43,750 | $ | 43,750 | |||||||
Total Investments — 100.2% (Cost $74,807,005) | 74,288,128 | |||||||||
Other Assets and Liabilities, Net — (0.2)% | (56,154 | ) | ||||||||
Net Assets — 100.0% | $ | 74,231,974 |
(a) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $12,066,518; total market value of collateral held by the Fund was $12,469,767. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $12,426,017. |
(b) | Reflects the 7-day yield at April 30, 2017. |
(c) | Reflects the 1-day yield at April 30, 2017. |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(d) | ||||||||||||||||||
Investment Companies | $ | 74,196,058 | $ | — | $ | — | $ | 74,196,058 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 48,320 | — | — | 48,320 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 43,750 | — | — | 43,750 | ||||||||||||||
Total Investments in Securities | $ | 74,288,128 | $ | — | $ | — | $ | 74,288,128 |
(d) | For a complete listing of investments and their industries, see the Schedules of Investments. |
See notes to financial statements.
Shares | Value | |||||||||
Investment Companies — 100.0% | ||||||||||
Emerging Market Bond Funds — 4.3% | ||||||||||
iShares J.P. Morgan USD Emerging Markets Bond ETF | 47,836 | $ | 5,510,707 | |||||||
PowerShares Emerging Markets Sovereign Debt Portfolio | 149,723 | 4,413,834 | ||||||||
Total Emerging Market Bond Funds | 9,924,541 | |||||||||
High Yield Corporate Bond Funds — 25.0% | ||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF(a) | 290,360 | 25,586,523 | ||||||||
SPDR Bloomberg Barclays High Yield Bond ETF(a) | 862,712 | 32,041,124 | ||||||||
Total High Yield Corporate Bond Funds | 57,627,647 | |||||||||
Investment Grade Corporate Bond Funds — 29.5% | ||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | 265,322 | 31,570,665 | ||||||||
iShares U.S. Credit Bond ETF | 12,048 | 1,333,954 | ||||||||
Vanguard Intermediate-Term Corporate Bond ETF | 404,464 | 35,249,038 | ||||||||
Total Investment Grade Corporate Bond Funds | 68,153,657 | |||||||||
Mortgage Backed Securities Funds — 21.0% | ||||||||||
iShares MBS ETF(a) | 68,626 | 7,342,296 | ||||||||
SPDR Bloomberg Barclays Mortgage Backed Bond ETF | 402,831 | 10,610,568 | ||||||||
Vanguard Mortgage-Backed Securities ETF | 576,786 | 30,408,158 | ||||||||
Total Mortgage Backed Securities Funds | 48,361,022 | |||||||||
U.S. Intermediate Term Treasury Bond Funds — 9.6% | ||||||||||
iShares 3-7 Year Treasury Bond ETF | 25,554 | 3,161,541 | ||||||||
iShares 7-10 Year Treasury Bond ETF(a) | 7,069 | 753,555 | ||||||||
Schwab Intermediate-Term U.S. Treasury ETF | 181,420 | 9,800,308 | ||||||||
Vanguard Intermediate-Term Government Bond ETF | 129,610 | 8,392,248 | ||||||||
Total U.S. Intermediate Term Treasury Bond Funds | 22,107,652 | |||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Long Term Treasury Bond Funds — 0.6% | ||||||||||
iShares 10-20 Year Treasury Bond ETF | 217 | $ | 29,501 | |||||||
iShares 20+ Year Treasury Bond ETF(a) | 2,265 | 277,123 | ||||||||
SPDR Bloomberg Barclays Long Term Treasury ETF | 6,499 | 459,479 | ||||||||
Vanguard Long-Term Government Bond ETF | 8,687 | 656,477 | ||||||||
Total U.S. Long Term Treasury Bond Funds | 1,422,580 | |||||||||
U.S. Short Term Treasury Bond Funds — 10.0% | ||||||||||
iShares 1-3 Year Treasury Bond ETF(a) | 78,243 | 6,620,923 | ||||||||
Schwab Short-Term U.S. Treasury ETF | 327,625 | 16,538,510 | ||||||||
Total U.S. Short Term Treasury Bond Funds | 23,159,433 | |||||||||
Total Investment Companies (Cost $230,333,604) | 230,756,532 | |||||||||
Short-Term Investment — 0.0%(b) | ||||||||||
Money Market Fund — 0.0%(b) | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 0.61%(c) (Cost $62,860) | 62,860 | 62,860 | ||||||||
Investment of Cash Collateral For Securities Loaned — 15.3% | ||||||||||
Money Market Fund — 15.3% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.69%(d) (Cost $35,309,561) | 35,309,561 | 35,309,561 | ||||||||
Total Investments — 115.3% (Cost $265,706,025) | 266,128,953 | |||||||||
Other Assets and Liabilities, Net — (15.3)% | (35,341,774 | ) | ||||||||
Net Assets — 100.0% | $ | 230,787,179 |
(a) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $34,578,216; total market value of collateral held by the Fund was $35,332,335. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $22,774. |
(b) | Less than 0.05%. |
(c) | Reflects the 7-day yield at April 30, 2017. |
(d) | Reflects the 1-day yield at April 30, 2017. |
See notes to financial statements.
Schedules of Investments — IQ Enhanced Core Plus Bond U.S. ETF (continued)
April 30, 2017
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(e) | ||||||||||||||||||
Investment Companies | $ | 230,756,532 | $ | — | $ | — | $ | 230,756,532 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 62,860 | — | — | 62,860 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 35,309,561 | — | — | 35,309,561 | ||||||||||||||
Total Investments in Securities | $ | 266,128,953 | $ | — | $ | — | $ | 266,128,953 |
(e) | For a complete listing of investments and their industries, see the Schedules of Investments. |
See notes to financial statements.
Principal Amount | Value | |||||||||
Long-Term Bonds — 97.7% | ||||||||||
Corporate Bonds — 85.1% | ||||||||||
Advertising — 0.7% | ||||||||||
Lamar Media Corp. | ||||||||||
5.000%, due 5/1/23 | $ | 85,000 | $ | 88,825 | ||||||
5.375%, due 1/15/24 | 60,000 | 63,375 | ||||||||
Outfront Media Capital LLC / Outfront Media Capital Corp. | ||||||||||
5.250%, due 2/15/22 | 80,000 | 83,000 | ||||||||
5.625%, due 2/15/24 | 35,000 | 36,663 | ||||||||
5.875%, due 3/15/25 | 50,000 | 52,875 | ||||||||
324,738 | ||||||||||
Aerospace/Defense — 1.1% | ||||||||||
Arconic, Inc. | ||||||||||
5.125%, due 10/1/24 | 120,000 | 125,550 | ||||||||
5.400%, due 4/15/21 | 225,000 | 240,469 | ||||||||
6.150%, due 8/15/20 | 50,000 | 54,625 | ||||||||
KLX, Inc. | ||||||||||
5.875%, due 12/1/22‡ | 135,000 | 141,750 | ||||||||
562,394 | ||||||||||
Airlines — 0.4% | ||||||||||
American Airlines Group, Inc. | ||||||||||
5.500%, due 10/1/19‡ | 160,000 | 166,800 | ||||||||
6.125%, due 6/1/18 | 50,000 | 51,875 | ||||||||
218,675 | ||||||||||
Apparel — 0.5% | ||||||||||
Hanesbrands, Inc. | ||||||||||
4.625%, due 5/15/24‡ | 130,000 | 129,188 | ||||||||
4.875%, due 5/15/26‡ | 105,000 | 104,475 | ||||||||
233,663 | ||||||||||
Auto Parts & Equipment — 1.1% | ||||||||||
Allison Transmission, Inc. | ||||||||||
5.000%, due 10/1/24‡ | 90,000 | 91,800 | ||||||||
Dana, Inc. | ||||||||||
5.375%, due 9/15/21 | 50,000 | 52,000 | ||||||||
5.500%, due 12/15/24 | 45,000 | 45,787 | ||||||||
Goodyear Tire & Rubber Co. (The) | ||||||||||
4.875%, due 3/15/27 | 125,000 | 124,375 | ||||||||
5.000%, due 5/31/26 | 100,000 | 102,625 | ||||||||
5.125%, due 11/15/23 | 95,000 | 99,750 | ||||||||
516,337 | ||||||||||
Building Materials — 1.1% | ||||||||||
Builders FirstSource, Inc. | ||||||||||
5.625%, due 9/1/24‡ | 85,000 | 88,081 | ||||||||
Standard Industries, Inc. | ||||||||||
5.000%, due 2/15/27‡ | 90,000 | 90,338 | ||||||||
5.125%, due 2/15/21‡ | 15,000 | 15,656 | ||||||||
5.375%, due 11/15/24‡ | 180,000 | 187,425 | ||||||||
5.500%, due 2/15/23‡ | 50,000 | 51,938 | ||||||||
6.000%, due 10/15/25‡ | 104,000 | 111,020 | ||||||||
544,458 | ||||||||||
Chemicals — 1.7% | ||||||||||
Ashland LLC | ||||||||||
3.875%, due 4/15/18 | 70,000 | 70,875 | ||||||||
4.750%, due 8/15/22 | 145,000 | 150,800 | ||||||||
Blue Cube Spinco, Inc. | ||||||||||
9.750%, due 10/15/23 | 50,000 | 60,500 | ||||||||
Shares | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Chemicals (continued) | ||||||||||
CF Industries, Inc. | ||||||||||
3.450%, due 6/1/23 | $ | 70,000 | $ | 65,472 | ||||||
5.150%, due 3/15/34 | 10,000 | 9,063 | ||||||||
Chemours Co. (The) | ||||||||||
7.000%, due 5/15/25 | 75,000 | 82,312 | ||||||||
Huntsman International LLC | ||||||||||
4.875%, due 11/15/20 | 70,000 | 73,500 | ||||||||
Momentive Performance Materials, Inc. | ||||||||||
3.880%, due 10/24/21 | 105,000 | 104,213 | ||||||||
Olin Corp. | ||||||||||
5.125%, due 9/15/27 | 125,000 | 130,000 | ||||||||
WR Grace & Co.-Conn. | ||||||||||
5.125%, due 10/1/21‡ | 95,000 | 101,888 | ||||||||
848,623 | ||||||||||
Commercial Services — 3.3% | ||||||||||
Adt Corp. (The) | ||||||||||
3.500%, due 7/15/22 | 170,000 | 164,900 | ||||||||
4.125%, due 6/15/23 | 35,000 | 34,037 | ||||||||
6.250%, due 10/15/21 | 105,000 | 114,712 | ||||||||
Jaguar Holding Co. II / Pharmaceutical Product Development LLC | ||||||||||
6.375%, due 8/1/23‡ | 115,000 | 119,887 | ||||||||
Nielsen Co. Luxembourg SARL (The) | ||||||||||
5.000%, due 2/1/25‡ | 70,000 | 70,000 | ||||||||
5.500%, due 10/1/21‡ | 25,000 | 25,875 | ||||||||
Nielsen Finance LLC / Nielsen Finance Co. | ||||||||||
4.500%, due 10/1/20 | 50,000 | 50,813 | ||||||||
5.000%, due 4/15/22‡ | 250,000 | 256,250 | ||||||||
Service Corp. International | ||||||||||
5.375%, due 1/15/22 | 25,000 | 25,781 | ||||||||
5.375%, due 5/15/24 | 105,000 | 110,775 | ||||||||
United Rentals North America, Inc. | ||||||||||
4.625%, due 7/15/23 | 225,000 | 233,438 | ||||||||
5.500%, due 7/15/25 | 25,000 | 26,000 | ||||||||
5.500%, due 5/15/27 | 165,000 | 169,744 | ||||||||
5.750%, due 11/15/24 | 40,000 | 42,100 | ||||||||
5.875%, due 9/15/26 | 100,000 | 105,375 | ||||||||
6.125%, due 6/15/23 | 80,000 | 83,400 | ||||||||
1,633,087 | ||||||||||
Computers — 2.6% | ||||||||||
Dell International LLC / EMC Corp. | ||||||||||
7.125%, due 6/15/24‡ | 280,000 | 309,050 | ||||||||
EMC Corp. | ||||||||||
1.875%, due 6/1/18 | 410,000 | 408,464 | ||||||||
2.650%, due 6/1/20 | 235,000 | 230,387 | ||||||||
3.375%, due 6/1/23 | 105,000 | 101,187 | ||||||||
NCR Corp. | ||||||||||
4.625%, due 2/15/21 | 25,000 | 25,625 | ||||||||
5.000%, due 7/15/22 | 100,000 | 102,500 | ||||||||
6.375%, due 12/15/23 | 80,000 | 85,600 | ||||||||
1,262,813 | ||||||||||
Cosmetics/Personal Care — 0.1% | ||||||||||
Edgewell Personal Care Co. | ||||||||||
4.700%, due 5/24/22 | 50,000 | 53,250 |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
April 30, 2017
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Distribution/Wholesale — 0.6% | ||||||||||
HD Supply, Inc. | ||||||||||
5.250%, due 12/15/21‡ | $ | 195,000 | $ | 205,725 | ||||||
5.750%, due 4/15/24‡ | 80,000 | 84,700 | ||||||||
290,425 | ||||||||||
Diversified Financial Services — 4.1% | ||||||||||
Aircastle Ltd. | ||||||||||
4.125%, due 5/1/24 | 65,000 | 66,300 | ||||||||
5.000%, due 4/1/23 | 80,000 | 85,200 | ||||||||
5.500%, due 2/15/22 | 80,000 | 86,800 | ||||||||
6.250%, due 12/1/19 | 50,000 | 54,125 | ||||||||
Ally Financial, Inc. | ||||||||||
3.250%, due 11/5/18 | 30,000 | 30,262 | ||||||||
3.600%, due 5/21/18 | 275,000 | 277,750 | ||||||||
3.750%, due 11/18/19 | 35,000 | 35,525 | ||||||||
4.125%, due 3/30/20 | 200,000 | 204,500 | ||||||||
4.125%, due 2/13/22 | 30,000 | 30,112 | ||||||||
4.625%, due 3/30/25 | 25,000 | 24,687 | ||||||||
4.750%, due 9/10/18 | 50,000 | 51,438 | ||||||||
5.125%, due 9/30/24 | 150,000 | 153,000 | ||||||||
CIT Group, Inc. | ||||||||||
3.875%, due 2/19/19 | 215,000 | 220,913 | ||||||||
5.000%, due 8/15/22 | 70,000 | 75,250 | ||||||||
5.000%, due 8/1/23 | 175,000 | 187,688 | ||||||||
Navient Corp. | ||||||||||
8.450%, due 6/15/18 | 165,000 | 176,216 | ||||||||
Series MTN, 4.875%, due 6/17/19 | 120,000 | 123,990 | ||||||||
Series MTN, 5.500%, due 1/15/19 | 120,000 | 124,810 | ||||||||
2,008,566 | ||||||||||
Electric — 1.1% | ||||||||||
AES Corp. | ||||||||||
4.875%, due 5/15/23 | 215,000 | 216,612 | ||||||||
5.500%, due 3/15/24 | 120,000 | 123,300 | ||||||||
5.500%, due 4/15/25 | 65,000 | 66,625 | ||||||||
Calpine Corp. | ||||||||||
5.250%, due 6/1/26‡ | 70,000 | 70,350 | ||||||||
5.875%, due 1/15/24‡ | 55,000 | 57,750 | ||||||||
534,637 | ||||||||||
Engineering & Construction — 0.6% | ||||||||||
AECOM | ||||||||||
5.125%, due 3/15/27‡ | 115,000 | 114,856 | ||||||||
5.750%, due 10/15/22 | 65,000 | 68,413 | ||||||||
5.875%, due 10/15/24 | 100,000 | 107,250 | ||||||||
290,519 | ||||||||||
Entertainment — 2.8% | ||||||||||
AMC Entertainment Holdings, Inc. | ||||||||||
5.750%, due 6/15/25 | 75,000 | 77,156 | ||||||||
5.875%, due 11/15/26‡ | 71,000 | 72,065 | ||||||||
Cinemark USA, Inc. | ||||||||||
4.875%, due 6/1/23 | 100,000 | 101,375 | ||||||||
GLP Capital LP / GLP Financing II, Inc. | ||||||||||
4.375%, due 11/1/18 | 40,000 | 41,000 | ||||||||
4.875%, due 11/1/20 | 155,000 | 164,881 | ||||||||
5.375%, due 11/1/23 | 40,000 | 43,050 | ||||||||
5.375%, due 4/15/26 | 110,000 | 115,637 | ||||||||
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Entertainment (continued) | ||||||||||
International Game Technology PLC | ||||||||||
6.250%, due 2/15/22‡ | $ | 225,000 | $ | 245,813 | ||||||
6.500%, due 2/15/25‡ | 145,000 | 158,956 | ||||||||
Regal Entertainment Group | ||||||||||
5.750%, due 3/15/22 | 70,000 | 72,888 | ||||||||
Six Flags Entertainment Corp. | ||||||||||
4.875%, due 7/31/24‡ | 100,000 | 100,750 | ||||||||
5.250%, due 1/15/21‡ | 85,000 | 87,231 | ||||||||
5.500%, due 4/15/27‡ | 75,000 | 76,125 | ||||||||
1,356,927 | ||||||||||
Environmental Control — 0.3% | ||||||||||
Clean Harbors, Inc. | ||||||||||
5.125%, due 6/1/21 | 120,000 | 122,850 | ||||||||
Food — 2.2% | ||||||||||
B&G Foods, Inc. | ||||||||||
4.625%, due 6/1/21 | 100,000 | 101,500 | ||||||||
5.250%, due 4/1/25 | 50,000 | 51,125 | ||||||||
Lamb Weston Holdings, Inc. | ||||||||||
4.625%, due 11/1/24‡ | 100,000 | 103,250 | ||||||||
4.875%, due 11/1/26‡ | 90,000 | 92,812 | ||||||||
Post Holdings, Inc. | ||||||||||
5.000%, due 8/15/26‡ | 295,000 | 293,525 | ||||||||
5.750%, due 3/1/27‡ | 85,000 | 88,188 | ||||||||
6.000%, due 12/15/22‡ | 115,000 | 122,187 | ||||||||
7.750%, due 3/15/24‡ | 125,000 | 138,750 | ||||||||
TreeHouse Foods, Inc. | ||||||||||
6.000%, due 2/15/24‡ | 90,000 | 96,300 | ||||||||
1,087,637 | ||||||||||
Food Service — 0.5% | ||||||||||
Aramark Services, Inc. | ||||||||||
4.750%, due 6/1/26 | 65,000 | 66,219 | ||||||||
5.000%, due 4/1/25‡ | 75,000 | 78,187 | ||||||||
5.125%, due 1/15/24 | 80,000 | 84,400 | ||||||||
228,806 | ||||||||||
Healthcare-Products — 0.4% | ||||||||||
Alere, Inc. | ||||||||||
6.375%, due 7/1/23‡ | 50,000 | 54,437 | ||||||||
Hologic, Inc. | ||||||||||
5.250%, due 7/15/22‡ | 120,000 | 126,450 | ||||||||
180,887 | ||||||||||
Healthcare-Services — 8.0% | ||||||||||
Acadia Healthcare Co., Inc. | ||||||||||
5.625%, due 2/15/23 | 65,000 | 67,275 | ||||||||
Centene Corp. | ||||||||||
4.750%, due 5/15/22 | 310,000 | 321,625 | ||||||||
4.750%, due 1/15/25 | 80,000 | 81,400 | ||||||||
5.625%, due 2/15/21 | 87,000 | 91,350 | ||||||||
6.125%, due 2/15/24 | 80,000 | 86,200 | ||||||||
DaVita, Inc. | ||||||||||
5.000%, due 5/1/25 | 155,000 | 156,162 | ||||||||
5.125%, due 7/15/24 | 245,000 | 251,737 | ||||||||
Envision Healthcare Corp. | ||||||||||
5.125%, due 7/1/22‡ | 25,000 | 25,375 | ||||||||
5.625%, due 7/15/22 | 165,000 | 169,950 | ||||||||
6.250%, due 12/1/24‡ | 90,000 | 94,500 |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
April 30, 2017
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | �� | |||||||||
Healthcare-Services (continued) | ||||||||||
HCA Holdings, Inc. | ||||||||||
6.250%, due 2/15/21 | $ | 60,000 | $ | 65,100 | ||||||
HCA, Inc. | ||||||||||
3.750%, due 3/15/19 | 50,000 | 51,125 | ||||||||
4.250%, due 10/15/19 | 35,000 | 36,312 | ||||||||
4.500%, due 2/15/27 | 65,000 | 65,569 | ||||||||
4.750%, due 5/1/23 | 195,000 | 204,750 | ||||||||
5.000%, due 3/15/24 | 100,000 | 106,125 | ||||||||
5.250%, due 4/15/25 | 105,000 | 112,875 | ||||||||
5.375%, due 2/1/25 | 380,000 | 395,675 | ||||||||
6.500%, due 2/15/20 | 255,000 | 279,863 | ||||||||
7.500%, due 2/15/22 | 120,000 | 137,850 | ||||||||
HealthSouth Corp. | ||||||||||
5.750%, due 11/1/24 | 145,000 | 148,081 | ||||||||
LifePoint Health, Inc. | ||||||||||
5.375%, due 5/1/24‡ | 125,000 | 126,250 | ||||||||
5.500%, due 12/1/21 | 110,000 | 113,988 | ||||||||
Tenet Healthcare Corp. | ||||||||||
4.375%, due 10/1/21 | 185,000 | 184,769 | ||||||||
4.500%, due 4/1/21 | 50,000 | 50,063 | ||||||||
4.750%, due 6/1/20 | 75,000 | 76,125 | ||||||||
6.000%, due 10/1/20 | 150,000 | 157,875 | ||||||||
6.250%, due 11/1/18 | 150,000 | 157,125 | ||||||||
WellCare Health Plans, Inc. | ||||||||||
5.250%, due 4/1/25 | 125,000 | 130,000 | ||||||||
3,945,094 | ||||||||||
Holding Companies-Diversified — 0.2% | ||||||||||
Leucadia National Corp. | ||||||||||
5.500%, due 10/18/23 | 90,000 | 96,794 | ||||||||
Home Builders — 1.9% | ||||||||||
CalAtlantic Group, Inc. | ||||||||||
5.875%, due 11/15/24 | 50,000 | 53,750 | ||||||||
KB Home | ||||||||||
7.000%, due 12/15/21 | 50,000 | 55,500 | ||||||||
Lennar Corp. | ||||||||||
4.125%, due 1/15/22 | 105,000 | 107,231 | ||||||||
4.500%, due 11/15/19 | 50,000 | 51,625 | ||||||||
4.750%, due 4/1/21 | 180,000 | 189,450 | ||||||||
4.750%, due 11/15/22 | 25,000 | 25,937 | ||||||||
4.750%, due 5/30/25 | 40,000 | 40,650 | ||||||||
PulteGroup, Inc. | ||||||||||
4.250%, due 3/1/21 | 80,000 | 82,500 | ||||||||
5.000%, due 1/15/27 | 50,000 | 50,688 | ||||||||
5.500%, due 3/1/26 | 125,000 | 131,719 | ||||||||
Taylor Morrison Communities, Inc. / Taylor Morrison Holdings II, Inc. | ||||||||||
5.250%, due 4/15/21‡ | 20,000 | 20,550 | ||||||||
TRI Pointe Group, Inc. / TRI Pointe Homes, Inc. | ||||||||||
4.375%, due 6/15/19 | 80,000 | 81,900 | ||||||||
5.875%, due 6/15/24 | 50,000 | 52,625 | ||||||||
944,125 | ||||||||||
Home Furnishings — 0.1% | ||||||||||
Tempur Sealy International, Inc. | ||||||||||
5.500%, due 6/15/26 | 15,000 | 14,925 | ||||||||
5.625%, due 10/15/23 | 40,000 | 40,700 | ||||||||
55,625 | ||||||||||
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Household Products/Wares — 0.2% | ||||||||||
Spectrum Brands, Inc. | ||||||||||
5.750%, due 7/15/25 | $ | 105,000 | $ | 112,088 | ||||||
Internet — 2.4% | ||||||||||
Netflix, Inc. | ||||||||||
4.375%, due 11/15/26‡ | 140,000 | 137,900 | ||||||||
5.500%, due 2/15/22 | 160,000 | 171,600 | ||||||||
5.875%, due 2/15/25 | 50,000 | 54,125 | ||||||||
Symantec Corp. | ||||||||||
5.000%, due 4/15/25‡ | 150,000 | 154,896 | ||||||||
VeriSign, Inc. | ||||||||||
4.625%, due 5/1/23 | 110,000 | 113,025 | ||||||||
5.250%, due 4/1/25 | 45,000 | 47,138 | ||||||||
Zayo Group LLC / Zayo Capital, Inc. | ||||||||||
5.750%, due 1/15/27‡ | 165,000 | 174,900 | ||||||||
6.000%, due 4/1/23 | 190,000 | 202,350 | ||||||||
6.375%, due 5/15/25 | 95,000 | 102,600 | ||||||||
1,158,534 | ||||||||||
Iron/Steel — 0.3% | ||||||||||
Steel Dynamics, Inc. | ||||||||||
5.125%, due 10/1/21 | 75,000 | 77,344 | ||||||||
5.500%, due 10/1/24 | 65,000 | 68,737 | ||||||||
146,081 | ||||||||||
Leisure Time — 0.6% | ||||||||||
NCL Corp. Ltd. | ||||||||||
4.625%, due 11/15/20‡ | 50,000 | 51,063 | ||||||||
4.750%, due 12/15/21‡ | 120,000 | 122,700 | ||||||||
Sabre GLBL, Inc. | ||||||||||
5.250%, due 11/15/23‡ | 50,000 | 51,750 | ||||||||
5.375%, due 4/15/23‡ | 60,000 | 62,100 | ||||||||
287,613 | ||||||||||
Lodging — 3.4% | ||||||||||
Boyd Gaming Corp. | ||||||||||
6.375%, due 4/1/26 | 80,000 | 86,000 | ||||||||
6.875%, due 5/15/23 | 110,000 | 118,525 | ||||||||
Hilton Domestic Operating Co., Inc. | ||||||||||
4.250%, due 9/1/24‡ | 95,000 | 95,475 | ||||||||
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp. | ||||||||||
4.625%, due 4/1/25‡ | 100,000 | 102,750 | ||||||||
4.875%, due 4/1/27‡ | 75,000 | 76,781 | ||||||||
MGM Resorts International | ||||||||||
4.625%, due 9/1/26 | 95,000 | 94,644 | ||||||||
6.000%, due 3/15/23 | 125,000 | 135,938 | ||||||||
6.625%, due 12/15/21 | 25,000 | 28,031 | ||||||||
6.750%, due 10/1/20 | 250,000 | 278,125 | ||||||||
7.750%, due 3/15/22 | 150,000 | 175,125 | ||||||||
8.625%, due 2/1/19 | 90,000 | 99,450 | ||||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. | ||||||||||
4.250%, due 5/30/23‡ | 65,000 | 64,350 | ||||||||
5.375%, due 3/15/22 | 90,000 | 92,588 | ||||||||
5.500%, due 3/1/25‡ | 215,000 | 223,331 | ||||||||
1,671,113 |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
April 30, 2017
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Machinery-Diversified — 0.8% | ||||||||||
CNH Industrial Capital LLC | ||||||||||
3.625%, due 4/15/18 | $ | 25,000 | $ | 25,344 | ||||||
3.875%, due 7/16/18 | 104,000 | 106,080 | ||||||||
4.375%, due 11/6/20 | 140,000 | 144,375 | ||||||||
4.875%, due 4/1/21 | 100,000 | 104,875 | ||||||||
380,674 | ||||||||||
Media — 10.8% | ||||||||||
Altice US Finance I Corp. | ||||||||||
5.375%, due 7/15/23‡ | 125,000 | 130,469 | ||||||||
5.500%, due 5/15/26‡ | 160,000 | 165,600 | ||||||||
AMC Networks, Inc. | ||||||||||
4.750%, due 12/15/22 | 80,000 | 81,600 | ||||||||
5.000%, due 4/1/24 | 100,000 | 101,375 | ||||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | ||||||||||
5.125%, due 2/15/23 | 100,000 | 104,000 | ||||||||
5.125%, due 5/1/23‡ | 510,000 | 530,400 | ||||||||
5.125%, due 5/1/27‡ | 335,000 | 341,700 | ||||||||
5.250%, due 9/30/22 | 50,000 | 51,750 | ||||||||
5.750%, due 2/15/26‡ | 65,000 | 68,900 | ||||||||
5.875%, due 4/1/24‡ | 100,000 | 106,875 | ||||||||
5.875%, due 5/1/27‡ | 240,000 | 254,100 | ||||||||
Cequel Communications Holdings I LLC / Cequel Capital Corp. | ||||||||||
5.125%, due 12/15/21‡ | 155,000 | 158,487 | ||||||||
CSC Holdings LLC | ||||||||||
5.250%, due 6/1/24 | 140,000 | 141,225 | ||||||||
5.500%, due 4/15/27‡ | 90,000 | 92,925 | ||||||||
6.625%, due 10/15/25‡ | 145,000 | 158,413 | ||||||||
6.750%, due 11/15/21 | 80,000 | 87,600 | ||||||||
DISH DBS Corp. | ||||||||||
4.250%, due 4/1/18 | 125,000 | 126,875 | ||||||||
5.000%, due 3/15/23 | 75,000 | 75,187 | ||||||||
5.125%, due 5/1/20 | 105,000 | 109,725 | ||||||||
5.875%, due 7/15/22 | 310,000 | 328,600 | ||||||||
5.875%, due 11/15/24 | 250,000 | 262,500 | ||||||||
6.750%, due 6/1/21 | 280,000 | 305,200 | ||||||||
7.875%, due 9/1/19 | 150,000 | 166,312 | ||||||||
Gray Television, Inc. | ||||||||||
5.125%, due 10/15/24‡ | 40,000 | 40,300 | ||||||||
5.875%, due 7/15/26‡ | 85,000 | 88,187 | ||||||||
Nexstar Broadcasting, Inc. | ||||||||||
5.625%, due 8/1/24‡ | 100,000 | 102,500 | ||||||||
Sinclair Television Group, Inc. | ||||||||||
5.625%, due 8/1/24‡ | 71,000 | 73,840 | ||||||||
Sirius XM Radio, Inc. | ||||||||||
4.625%, due 5/15/23‡ | 110,000 | 112,063 | ||||||||
5.375%, due 4/15/25‡ | 100,000 | 102,500 | ||||||||
5.375%, due 7/15/26‡ | 100,000 | 102,500 | ||||||||
6.000%, due 7/15/24‡ | 185,000 | 197,950 | ||||||||
TEGNA, Inc. | ||||||||||
6.375%, due 10/15/23 | 100,000 | 106,250 | ||||||||
Tribune Media Co. | ||||||||||
5.875%, due 7/15/22 | 125,000 | 131,250 | ||||||||
Univision Communications, Inc. | ||||||||||
5.125%, due 5/15/23‡ | 150,000 | 152,438 | ||||||||
5.125%, due 2/15/25‡ | 160,000 | 159,000 | ||||||||
5,318,596 | ||||||||||
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Metal Fabricate/Hardware — 0.6% | ||||||||||
Novelis Corp. | ||||||||||
5.875%, due 9/30/26‡ | $ | 150,000 | $ | 153,938 | ||||||
6.250%, due 8/15/24‡ | 155,000 | 163,525 | ||||||||
317,463 | ||||||||||
Mining — 0.8% | ||||||||||
Alcoa Nederland Holding BV | ||||||||||
6.750%, due 9/30/24‡ | 80,000 | 87,570 | ||||||||
7.000%, due 9/30/26‡ | 65,000 | 71,862 | ||||||||
Freeport-McMoRan, Inc. | ||||||||||
2.375%, due 3/15/18 | 130,000 | 129,513 | ||||||||
3.875%, due 3/15/23 | 40,000 | 37,100 | ||||||||
4.000%, due 11/14/21 | 75,000 | 73,219 | ||||||||
399,264 | ||||||||||
Office/Business Equipment — 0.4% | ||||||||||
CDW LLC / CDW Finance Corp. | ||||||||||
5.000%, due 9/1/25 | 125,000 | 128,125 | ||||||||
5.500%, due 12/1/24 | 60,000 | 63,900 | ||||||||
192,025 | ||||||||||
Oil & Gas — 4.5% | ||||||||||
Antero Resources Corp. | ||||||||||
5.000%, due 3/1/25‡ | 35,000 | 34,475 | ||||||||
5.125%, due 12/1/22 | 150,000 | 152,250 | ||||||||
5.375%, due 11/1/21 | 75,000 | 77,437 | ||||||||
5.625%, due 6/1/23 | 160,000 | 165,000 | ||||||||
Concho Resources, Inc. | ||||||||||
4.375%, due 1/15/25 | 35,000 | 35,437 | ||||||||
5.500%, due 4/1/23 | 205,000 | 212,431 | ||||||||
Continental Resources, Inc. | ||||||||||
3.800%, due 6/1/24 | 10,000 | 9,400 | ||||||||
4.500%, due 4/15/23 | 350,000 | 344,750 | ||||||||
4.900%, due 6/1/44 | 85,000 | 73,525 | ||||||||
5.000%, due 9/15/22 | 130,000 | 131,300 | ||||||||
Diamondback Energy, Inc. | ||||||||||
4.750%, due 11/1/24‡ | 100,000 | 100,500 | ||||||||
Murphy Oil Corp. | ||||||||||
4.700%, due 12/1/22 | 55,000 | 53,762 | ||||||||
Nabors Industries, Inc. | ||||||||||
5.500%, due 1/15/23‡ | 70,000 | 70,875 | ||||||||
Newfield Exploration Co. | ||||||||||
5.375%, due 1/1/26 | 50,000 | 52,500 | ||||||||
5.625%, due 7/1/24 | 140,000 | 147,875 | ||||||||
Parsley Energy LLC / Parsley Finance Corp. | ||||||||||
5.375%, due 1/15/25‡ | 135,000 | 136,688 | ||||||||
RSP Permian, Inc. | ||||||||||
5.250%, due 1/15/25‡ | 55,000 | 55,688 | ||||||||
Sunoco LP / Sunoco Finance Corp. | ||||||||||
6.375%, due 4/1/23 | 100,000 | 106,500 | ||||||||
Tesoro Corp. | ||||||||||
4.750%, due 12/15/23‡ | 125,000 | 130,938 | ||||||||
5.125%, due 12/15/26‡ | 75,000 | 79,781 | ||||||||
5.375%, due 10/1/22 | 55,000 | 57,200 | ||||||||
2,228,312 |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
April 30, 2017
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Packaging & Containers — 2.0% | ||||||||||
Ball Corp. | ||||||||||
4.000%, due 11/15/23 | $ | 170,000 | $ | 172,550 | ||||||
4.375%, due 12/15/20 | 30,000 | 31,575 | ||||||||
5.000%, due 3/15/22 | 70,000 | 74,725 | ||||||||
5.250%, due 7/1/25 | 70,000 | 75,512 | ||||||||
Berry Plastics Corp. | ||||||||||
5.125%, due 7/15/23 | 130,000 | 134,550 | ||||||||
Crown Americas LLC / Crown Americas Capital Corp. IV | ||||||||||
4.500%, due 1/15/23 | 135,000 | 139,387 | ||||||||
Owens-Brockway Glass Container, Inc. | ||||||||||
5.000%, due 1/15/22‡ | 9,000 | 9,293 | ||||||||
5.875%, due 8/15/23‡ | 115,000 | 123,338 | ||||||||
Sealed Air Corp. | ||||||||||
4.875%, due 12/1/22‡ | 135,000 | 140,906 | ||||||||
5.125%, due 12/1/24‡ | 35,000 | 36,531 | ||||||||
6.500%, due 12/1/20‡ | 35,000 | 39,113 | ||||||||
977,480 | ||||||||||
Pipelines — 4.5% | ||||||||||
Antero Midstream Partners LP / Antero Midstream Finance Corp. | ||||||||||
5.375%, due 9/15/24‡ | 65,000 | 66,625 | ||||||||
Cheniere Corpus Christi Holdings LLC | ||||||||||
5.875%, due 3/31/25‡ | 165,000 | 175,931 | ||||||||
7.000%, due 6/30/24‡ | 155,000 | 173,212 | ||||||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. | ||||||||||
5.750%, due 4/1/25‡ | 60,000 | 62,400 | ||||||||
DCP Midstream Operating LP | ||||||||||
3.875%, due 3/15/23 | 50,000 | 48,437 | ||||||||
Energy Transfer Equity LP | ||||||||||
5.500%, due 6/1/27 | 125,000 | 134,063 | ||||||||
5.875%, due 1/15/24 | 115,000 | 124,200 | ||||||||
7.500%, due 10/15/20 | 170,000 | 191,675 | ||||||||
NuStar Logistics LP | ||||||||||
5.625%, due 4/28/27 | 75,000 | 77,344 | ||||||||
ONEOK, Inc. | ||||||||||
7.500%, due 9/1/23 | 60,000 | 71,100 | ||||||||
Rockies Express Pipeline LLC | ||||||||||
6.000%, due 1/15/19‡ | 75,000 | 78,750 | ||||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp. | ||||||||||
4.125%, due 11/15/19 | 175,000 | 177,844 | ||||||||
4.250%, due 11/15/23 | 25,000 | 24,750 | ||||||||
5.125%, due 2/1/25‡ | 80,000 | 82,600 | ||||||||
5.375%, due 2/1/27‡ | 100,000 | 104,250 | ||||||||
6.750%, due 3/15/24 | 25,000 | 27,156 | ||||||||
Tesoro Logistics LP / Tesoro Logistics Finance Corp. | ||||||||||
5.250%, due 1/15/25 | 100,000 | 106,125 | ||||||||
6.250%, due 10/15/22 | 150,000 | 160,875 | ||||||||
6.375%, due 5/1/24 | 35,000 | 38,238 | ||||||||
Williams Cos., Inc. (The) | ||||||||||
3.700%, due 1/15/23 | 70,000 | 69,208 | ||||||||
4.550%, due 6/24/24 | 145,000 | 149,325 | ||||||||
5.750%, due 6/24/44 | 80,000 | 82,800 | ||||||||
2,226,908 | ||||||||||
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Real Estate — 0.4% | ||||||||||
Realogy Group LLC / Realogy Co-Issuer Corp. | ||||||||||
4.500%, due 4/15/19‡ | $ | 25,000 | $ | 25,875 | ||||||
4.875%, due 6/1/23‡ | 55,000 | 55,550 | ||||||||
5.250%, due 12/1/21‡ | 85,000 | 89,250 | ||||||||
170,675 | ||||||||||
REITS — 2.9% | ||||||||||
Equinix, Inc. | ||||||||||
5.375%, due 1/1/22 | 100,000 | 105,750 | ||||||||
5.375%, due 4/1/23 | 150,000 | 156,375 | ||||||||
5.375%, due 5/15/27 | 165,000 | 172,013 | ||||||||
5.750%, due 1/1/25 | 80,000 | 85,600 | ||||||||
5.875%, due 1/15/26 | 65,000 | 70,037 | ||||||||
ESH Hospitality, Inc. | ||||||||||
5.250%, due 5/1/25‡ | 140,000 | 141,750 | ||||||||
Iron Mountain, Inc. | ||||||||||
4.375%, due 6/1/21‡ | 55,000 | 56,994 | ||||||||
5.750%, due 8/15/24 | 100,000 | 103,000 | ||||||||
6.000%, due 8/15/23 | 60,000 | 63,750 | ||||||||
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc. | ||||||||||
4.500%, due 9/1/26 | 55,000 | 54,725 | ||||||||
5.625%, due 5/1/24 | 115,000 | 124,200 | ||||||||
SBA Communications Corp. | ||||||||||
4.875%, due 7/15/22 | 95,000 | 97,969 | ||||||||
4.875%, due 9/1/24‡ | 115,000 | 116,006 | ||||||||
Uniti Group, Inc. / CSL Capital LLC | ||||||||||
6.000%, due 4/15/23‡ | 65,000 | 67,681 | ||||||||
1,415,850 | ||||||||||
Retail — 2.5% | ||||||||||
Dollar Tree, Inc. | ||||||||||
5.750%, due 3/1/23 | 270,000 | 287,212 | ||||||||
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC | ||||||||||
5.000%, due 6/1/24‡ | 105,000 | 108,412 | ||||||||
5.250%, due 6/1/26‡ | 125,000 | 128,125 | ||||||||
L Brands, Inc. | ||||||||||
5.625%, due 2/15/22 | 150,000 | 158,438 | ||||||||
5.625%, due 10/15/23 | 50,000 | 52,500 | ||||||||
6.625%, due 4/1/21 | 75,000 | 82,312 | ||||||||
Penske Automotive Group, Inc. | ||||||||||
5.750%, due 10/1/22 | 60,000 | 62,100 | ||||||||
QVC, Inc. | ||||||||||
4.375%, due 3/15/23 | 140,000 | 141,004 | ||||||||
4.450%, due 2/15/25 | 65,000 | 63,931 | ||||||||
5.125%, due 7/2/22 | 80,000 | 83,835 | ||||||||
Sally Holdings LLC / Sally Capital, Inc. | ||||||||||
5.625%, due 12/1/25 | 80,000 | 82,400 | ||||||||
1,250,269 | ||||||||||
Semiconductors — 1.1% | ||||||||||
Micron Technology, Inc. | ||||||||||
5.250%, due 8/1/23‡ | 120,000 | 123,900 | ||||||||
5.250%, due 1/15/24‡ | 75,000 | 77,438 | ||||||||
5.500%, due 2/1/25 | 57,000 | 59,707 | ||||||||
5.875%, due 2/15/22 | 25,000 | 26,156 | ||||||||
Sensata Technologies BV | ||||||||||
4.875%, due 10/15/23‡ | 50,000 | 50,500 | ||||||||
5.000%, due 10/1/25‡ | 56,000 | 57,260 |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
April 30, 2017
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Semiconductors (continued) | ||||||||||
Sensata Technologies UK Financing Co. PLC | ||||||||||
6.250%, due 2/15/26‡ | $ | 115,000 | $ | 124,344 | ||||||
519,305 | ||||||||||
Shipbuilding — 0.3% | ||||||||||
Huntington Ingalls Industries, Inc. | ||||||||||
5.000%, due 12/15/21‡ | 95,000 | 98,562 | ||||||||
5.000%, due 11/15/25‡ | 55,000 | 58,438 | ||||||||
157,000 | ||||||||||
Software — 3.5% | ||||||||||
Change Healthcare Holdings LLC / Change Healthcare Finance, Inc. | ||||||||||
5.750%, due 3/1/25‡ | 105,000 | 107,756 | ||||||||
First Data Corp. | ||||||||||
5.000%, due 1/15/24‡ | 275,000 | 281,188 | ||||||||
5.375%, due 8/15/23‡ | 120,000 | 124,800 | ||||||||
5.750%, due 1/15/24‡ | 240,000 | 248,400 | ||||||||
7.000%, due 12/1/23‡ | 390,000 | 417,300 | ||||||||
MSCI, Inc. | ||||||||||
4.750%, due 8/1/26‡ | 75,000 | 76,969 | ||||||||
5.250%, due 11/15/24‡ | 80,000 | 84,600 | ||||||||
5.750%, due 8/15/25‡ | 100,000 | 108,250 | ||||||||
Nuance Communications, Inc. | ||||||||||
5.625%, due 12/15/26‡ | 55,000 | 56,856 | ||||||||
Quintiles IMS, Inc. | ||||||||||
4.875%, due 5/15/23‡ | 125,000 | 128,750 | ||||||||
5.000%, due 10/15/26‡ | 105,000 | 107,625 | ||||||||
1,742,494 | ||||||||||
Telecommunications — 7.2% | ||||||||||
CenturyLink, Inc. | ||||||||||
5.625%, due 4/1/20 | 100,000 | 105,875 | ||||||||
6.450%, due 6/15/21 | 120,000 | 129,450 | ||||||||
CommScope Technologies LLC | ||||||||||
5.000%, due 3/15/27‡ | 105,000 | 105,787 | ||||||||
6.000%, due 6/15/25‡ | 135,000 | 144,112 | ||||||||
CommScope, Inc. | ||||||||||
5.000%, due 6/15/21‡ | 75,000 | 76,969 | ||||||||
5.500%, due 6/15/24‡ | 80,000 | 83,800 | ||||||||
Hughes Satellite Systems Corp. | ||||||||||
5.250%, due 8/1/26‡ | 90,000 | 91,575 | ||||||||
Level 3 Communications, Inc. | ||||||||||
5.750%, due 12/1/22 | 65,000 | 67,681 | ||||||||
Level 3 Financing, Inc. | ||||||||||
5.250%, due 3/15/26 | 160,000 | 164,800 | ||||||||
5.375%, due 8/15/22 | 175,000 | 180,687 | ||||||||
5.375%, due 5/1/25 | 145,000 | 150,800 | ||||||||
5.625%, due 2/1/23 | 70,000 | 72,625 | ||||||||
Sprint Capital Corp. | ||||||||||
6.900%, due 5/1/19 | 150,000 | 160,875 | ||||||||
Sprint Communications, Inc. | ||||||||||
7.000%, due 3/1/20‡ | 215,000 | 235,156 | ||||||||
9.000%, due 11/15/18‡ | 300,000 | 328,125 | ||||||||
T-Mobile USA, Inc. | ||||||||||
4.000%, due 4/15/22 | 125,000 | 127,813 | ||||||||
5.375%, due 4/15/27 | 150,000 | 160,125 | ||||||||
6.000%, due 3/1/23 | 300,000 | 319,500 | ||||||||
6.125%, due 1/15/22 | 90,000 | 94,950 | ||||||||
6.375%, due 3/1/25 | 90,000 | 98,325 | ||||||||
6.500%, due 1/15/26 | 275,000 | 304,563 | ||||||||
6.625%, due 4/1/23 | 325,000 | 346,938 | ||||||||
3,550,531 | ||||||||||
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Transportation — 0.5% | ||||||||||
XPO Logistics, Inc. | ||||||||||
6.125%, due 9/1/23‡ | $ | 105,000 | $ | 110,250 | ||||||
6.500%, due 6/15/22‡ | 125,000 | 132,188 | ||||||||
242,438 | ||||||||||
Total Corporate Bonds (Cost $41,562,567) | 41,805,643 | |||||||||
Foreign Bonds — 12.6% | ||||||||||
Auto Manufacturers — 1.3% | ||||||||||
Fiat Chrysler Automobiles NV, (United Kingdom) | ||||||||||
4.500%, due 4/15/20 | 200,000 | 205,750 | ||||||||
5.250%, due 4/15/23 | 150,000 | 154,125 | ||||||||
Jaguar Land Rover Automotive PLC, (United Kingdom) | ||||||||||
4.125%, due 12/15/18‡ | 135,000 | 137,869 | ||||||||
4.250%, due 11/15/19‡ | 65,000 | 66,950 | ||||||||
5.625%, due 2/1/23‡ | 50,000 | 52,250 | ||||||||
616,944 | ||||||||||
Auto Parts & Equipment — 0.8% | ||||||||||
ZF North America Capital, Inc., (Germany) | ||||||||||
4.000%, due 4/29/20‡ | 175,000 | 181,344 | ||||||||
4.750%, due 4/29/25‡ | 210,000 | 218,137 | ||||||||
399,481 | ||||||||||
Beverages — 0.3% | ||||||||||
Cott Beverages, Inc., (Canada) | ||||||||||
5.375%, due 7/1/22 | 50,000 | 51,687 | ||||||||
Cott Holdings, Inc., (Canada) | ||||||||||
5.500%, due 4/1/25‡ | 80,000 | 81,200 | ||||||||
132,887 | ||||||||||
Chemicals — 0.2% | ||||||||||
NOVA Chemicals Corp., (Canada) | ||||||||||
5.000%, due 5/1/25‡ | 35,000 | 35,882 | ||||||||
5.250%, due 8/1/23‡ | 80,000 | 81,600 | ||||||||
117,482 | ||||||||||
Commercial Services — 0.1% | ||||||||||
Ashtead Capital, Inc., (United Kingdom) | ||||||||||
5.625%, due 10/1/24‡ | 65,000 | 69,387 | ||||||||
Food — 0.3% | ||||||||||
Tesco PLC, (United Kingdom) | ||||||||||
6.150%, due 11/15/37‡ | 140,000 | 142,800 | ||||||||
Healthcare-Services — 0.1% | ||||||||||
Fresenius Medical Care US Finance II, Inc., (Germany) | ||||||||||
4.125%, due 10/15/20‡ | 40,000 | 41,100 | ||||||||
Iron/Steel — 0.4% | ||||||||||
ArcelorMittal, (Luxembourg) | ||||||||||
6.125%, due 6/1/25 | 55,000 | 61,669 | ||||||||
7.000%, due 2/25/22 | 130,000 | 147,387 | ||||||||
209,056 | ||||||||||
Machinery-Diversified — 0.2% | ||||||||||
CNH Industrial NV, (United Kingdom) | ||||||||||
4.500%, due 8/15/23 | 85,000 | 87,125 |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
April 30, 2017
Principal Amount | Value | |||||||||
Foreign Bonds (continued) | ||||||||||
Media — 3.0% | ||||||||||
SFR Group SA, (France) | ||||||||||
6.000%, due 5/15/22‡ | $ | 475,000 | $ | 495,187 | ||||||
Unitymedia Hessen GmbH & Co. KG / Unitymedia NRW GmbH, (Germany) | ||||||||||
5.000%, due 1/15/25‡ | 55,000 | 56,994 | ||||||||
5.500%, due 1/15/23‡ | 95,000 | 98,681 | ||||||||
Videotron Ltd., (Canada) | ||||||||||
5.000%, due 7/15/22 | 80,000 | 84,600 | ||||||||
5.375%, due 6/15/24‡ | 60,000 | 63,300 | ||||||||
Videotron Ltd. / Videotron Ltee, (Canada) | ||||||||||
5.125%, due 4/15/27‡ | 100,000 | 101,875 | ||||||||
Virgin Media Finance PLC, (United Kingdom) | ||||||||||
6.000%, due 10/15/24‡ | 75,000 | 78,750 | ||||||||
Virgin Media Secured Finance PLC, (United Kingdom) | ||||||||||
5.250%, due 1/15/26‡ | 110,000 | 111,650 | ||||||||
5.500%, due 1/15/25‡ | 25,000 | 25,719 | ||||||||
5.500%, due 8/15/26‡ | 81,000 | 82,823 | ||||||||
Ziggo Secured Finance BV, (Netherlands) | ||||||||||
5.500%, due 1/15/27‡ | 261,000 | 266,220 | ||||||||
1,465,799 | ||||||||||
Mining — 1.3% | ||||||||||
Anglo American Capital PLC, (United Kingdom) | ||||||||||
3.625%, due 5/14/20‡ | 95,000 | 96,306 | ||||||||
4.125%, due 4/15/21‡ | 50,000 | 51,250 | ||||||||
4.125%, due 9/27/22‡ | 120,000 | 122,100 | ||||||||
4.750%, due 4/10/27‡ | 50,000 | 51,461 | ||||||||
4.875%, due 5/14/25‡ | 60,000 | 62,550 | ||||||||
Kinross Gold Corp., (Canada) | ||||||||||
5.125%, due 9/1/21 | 65,000 | 67,681 | ||||||||
5.950%, due 3/15/24 | 90,000 | 96,188 | ||||||||
Teck Resources Ltd., (Canada) | ||||||||||
3.750%, due 2/1/23 | 110,000 | 108,350 | ||||||||
655,886 | ||||||||||
Miscellaneous Manufacturing — 0.1% | ||||||||||
Bombardier, Inc., (Canada) | ||||||||||
4.750%, due 4/15/19‡ | 70,000 | 71,575 | ||||||||
Oil & Gas — 0.1% | ||||||||||
Seven Generations Energy Ltd., (Canada) | ||||||||||
6.750%, due 5/1/23‡ | 25,000 | 26,625 | ||||||||
Packaging & Containers — 0.8% | ||||||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc., (Ireland) | ||||||||||
4.250%, due 9/15/22‡ | 125,000 | 127,344 | ||||||||
4.625%, due 5/15/23‡ | 80,000 | 81,800 | ||||||||
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu, (New Zealand) | ||||||||||
5.125%, due 7/15/23‡ | 180,000 | 187,200 | ||||||||
396,344 | ||||||||||
Principal Amount | Value | |||||||||
Foreign Bonds (continued) | ||||||||||
Retail — 0.3% | ||||||||||
1011778 BC ULC / New Red Finance, Inc., (Canada) | ||||||||||
4.625%, due 1/15/22‡ | $ | 125,000 | $ | 128,750 | ||||||
6.000%, due 4/1/22‡ | 30,000 | 31,200 | ||||||||
159,950 | ||||||||||
Software — 0.4% | ||||||||||
Open Text Corp., (Canada) | ||||||||||
5.625%, due 1/15/23‡ | 80,000 | 84,200 | ||||||||
5.875%, due 6/1/26‡ | 115,000 | 122,762 | ||||||||
206,962 | ||||||||||
Telecommunications — 2.2% | ||||||||||
Inmarsat Finance PLC, (United Kingdom) | ||||||||||
4.875%, due 5/15/22‡ | 120,000 | 120,916 | ||||||||
Millicom International Cellular SA, (Luxembourg) | ||||||||||
6.000%, due 3/15/25‡ | 50,000 | 52,625 | ||||||||
Nokia OYJ, (Finland) | ||||||||||
5.375%, due 5/15/19 | 90,000 | 95,175 | ||||||||
SoftBank Group Corp., (Japan) | ||||||||||
4.500%, due 4/15/20‡ | 280,000 | 290,500 | ||||||||
Telecom Italia Capital SA, (Italy) | ||||||||||
6.000%, due 9/30/34 | 110,000 | 112,612 | ||||||||
Telecom Italia SpA, (Italy) | ||||||||||
5.303%, due 5/30/24‡ | 190,000 | 195,700 | ||||||||
Wind Acquisition Finance SA, (Italy) | ||||||||||
4.750%, due 7/15/20‡ | 205,000 | 207,819 | ||||||||
1,075,347 | ||||||||||
Trucking & Leasing — 0.7% | ||||||||||
Park Aerospace Holdings Ltd., (Ireland) | ||||||||||
5.250%, due 8/15/22‡ | 175,000 | 184,862 | ||||||||
5.500%, due 2/15/24‡ | 150,000 | 159,368 | ||||||||
344,230 | ||||||||||
Total Foreign Bonds (Cost $6,182,384) | 6,218,980 | |||||||||
Short-Term Investment — 1.2% | Shares | |||||||||
Money Market Fund — 1.2% | ||||||||||
BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 0.58%(a) (Cost $580,307) | 580,307 | 580,307 | ||||||||
Total Investments — 98.9% (Cost $48,325,258) | 48,604,930 | |||||||||
Other Assets and Liabilities, Net — 1.1% | 539,676 | |||||||||
Net Assets — 100.0% | $ | 49,144,606 |
‡ | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold except to qualified institutional buyers. Unless otherwise noted, 144A securities are deemed to be liquid. |
(a) | Reflects the 7-day yield at April 30, 2017. |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
April 30, 2017
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(b) | ||||||||||||||||||
Corporate Bonds | $ | — | $ | 41,805,643 | $ | — | $ | 41,805,643 | ||||||||||
Foreign Bonds | — | 6,218,980 | — | 6,218,980 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 580,307 | — | — | 580,307 | ||||||||||||||
Total Investments in Securities | $ | 580,307 | $ | 48,024,623 | $ | — | $ | 48,604,930 |
(b) | For a complete listing of investments and their industries, see the Schedules of Investments. |
See notes to financial statements.
IQ Hedge Multi-Strategy Tracker ETF | IQ Hedge Macro Tracker ETF | IQ Hedge Market Neutral Tracker ETF | IQ Hedge Long/Short Tracker ETF | IQ Hedge Event-Driven Tracker ETF | ||||||||||||||||||
Assets | ||||||||||||||||||||||
Investments, at value (including securities on loan)(a) | $ | 1,220,769,463 | $ | 7,671,069 | $ | 13,637,572 | $ | 4,382,735 | $ | 3,167,218 | ||||||||||||
Investments in Affiliates, at value | 45,242,221 | — | — | — | — | |||||||||||||||||
Cash | 83,024 | — | — | 330 | 70 | |||||||||||||||||
Receivable for investments sold | 23,394,203 | — | — | — | — | |||||||||||||||||
Due from broker | 2,026,407 | 12,497 | 20,011 | 11,766 | 1,113 | |||||||||||||||||
Receivable for capital shares transactions | 1,457,602 | — | — | — | — | |||||||||||||||||
Dividend, interest, reclaim and security lending income receivables | 108,387 | 1,558 | 908 | 79 | 13 | |||||||||||||||||
Total Assets | 1,293,081,307 | 7,685,124 | 13,658,491 | 4,394,910 | 3,168,414 | |||||||||||||||||
Liabilities | ||||||||||||||||||||||
Collateral for investments on loan(b) | 200,211,821 | 1,287,677 | 2,259,107 | 315,173 | 76,542 | |||||||||||||||||
Payable for capital shares repurchased | 23,331,602 | — | — | — | — | |||||||||||||||||
Due to broker | 4,808,677 | 27,493 | 28,044 | 5,711 | 1,683 | |||||||||||||||||
Payable for investments purchased | 1,464,212 | — | — | — | — | |||||||||||||||||
Advisory fees payable | 668,710 | 3,906 | 6,984 | 1,594 | 1,913 | |||||||||||||||||
Compliance fees payable | 340 | 2 | 3 | 1 | 1 | |||||||||||||||||
Cash due to custodian | — | 825 | — | — | — | |||||||||||||||||
Accrued expenses and other liabilities | 16,548 | 275 | 242 | 85 | 113 | |||||||||||||||||
Total Liabilities | 230,501,910 | 1,320,178 | 2,294,380 | 322,564 | 80,252 | |||||||||||||||||
Net Assets | $ | 1,062,579,397 | $ | 6,364,946 | $ | 11,364,111 | $ | 4,072,346 | $ | 3,088,162 | ||||||||||||
Composition of Net Assets | ||||||||||||||||||||||
Paid-in capital | $ | 1,126,231,934 | $ | 12,497,183 | $ | 11,873,571 | $ | 4,162,329 | $ | 3,097,540 | ||||||||||||
Undistributed (accumulated) net investment income (loss) | (2,362,666 | ) | 136 | �� | (142,935 | ) | (10,481 | ) | 32,303 | |||||||||||||
Undistributed (accumulated) net realized gain (loss) | (76,287,380 | ) | (6,102,333 | ) | (505,973 | ) | (128,749 | ) | (74,311 | ) | ||||||||||||
Net unrealized appreciation (depreciation) | 14,997,509 | (30,040 | ) | 139,448 | 49,247 | 32,630 | ||||||||||||||||
Net Assets | $ | 1,062,579,397 | $ | 6,364,946 | $ | 11,364,111 | $ | 4,072,346 | $ | 3,088,162 | ||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||||
Shares Outstanding (no par value, unlimited shares authorized) | 36,450,000 | 250,000 | 450,000 | 200,001 | 150,001 | |||||||||||||||||
Net Asset Value Per Share | $ | 29.15 | $ | 25.46 | $ | 25.25 | $ | 20.36 | $ | 20.59 | ||||||||||||
Investments, at cost: | $ | 1,206,232,157 | $ | 7,701,109 | $ | 13,498,124 | $ | 4,333,488 | $ | 3,134,588 | ||||||||||||
Investments in Affiliates, at cost | $ | 44,782,018 | $ | — | $ | — | $ | — | $ | — | ||||||||||||
(a) Market value of securities on loan | $ | 195,023,531 | $ | 1,261,359 | $ | 2,209,699 | $ | 306,108 | $ | 74,284 | ||||||||||||
(b) Non-cash collateral for securities on loan | $ | — | $ | 1,534 | $ | — | $ | — | $ | — |
See notes to financial statements.
Statements of Assets and Liabilities (continued)
April 30, 2017
IQ Global Resources ETF | IQ Merger Arbitrage ETF | IQ Real Return ETF | IQ Australia Small Cap ETF | IQ Canada Small Cap ETF | ||||||||||||||||||
Assets | ||||||||||||||||||||||
Investments, at value (including securities on loan)(a) | $ | 187,045,866 | $ | 195,355,235 | $ | 32,101,092 | $ | 9,243,561 | $ | 11,459,491 | ||||||||||||
Cash | — | 867,534 | — | — | — | |||||||||||||||||
Foreign currency(b) | 14,181 | — | — | — | 7,967 | |||||||||||||||||
Cash deposited at broker for swap collateral | 1,100,000 | 205,000 | — | — | — | |||||||||||||||||
Receivable for investments sold | 57,086,514 | 10,897,999 | — | — | — | |||||||||||||||||
Dividend, interest, reclaim and security lending income receivables | 551,498 | 53,833 | 7,496 | 5,662 | 6,435 | |||||||||||||||||
Due from broker | 11,233 | 266,408 | — | — | — | |||||||||||||||||
Total Assets | �� | 245,809,292 | 207,646,009 | 32,108,588 | 9,249,223 | 11,473,893 | ||||||||||||||||
Liabilities | ||||||||||||||||||||||
Payable for capital shares repurchased | 63,259,305 | — | — | — | — | |||||||||||||||||
Collateral for investments on loan(c) | 2,091,984 | 2,400,238 | 3,489,074 | 1,126,757 | 832,449 | |||||||||||||||||
Due to broker | 861,117 | 678,640 | — | — | — | |||||||||||||||||
Advisory fees payable | 143,970 | 109,921 | 11,286 | 4,646 | 6,319 | |||||||||||||||||
Compliance fees payable | 57 | 53 | 8 | 3 | 3 | |||||||||||||||||
Payable for investments purchased | — | 9,762,041 | — | — | — | |||||||||||||||||
Foreign currency due to custodian | — | 5,859,589 | — | 727 | — | |||||||||||||||||
Accrued expenses and other liabilities | 2,636 | 2,445 | 460 | 175 | 214 | |||||||||||||||||
Total Liabilities | 66,359,069 | 18,812,927 | 3,500,828 | 1,132,308 | 838,985 | |||||||||||||||||
Net Assets | $ | 179,450,223 | $ | 188,833,082 | $ | 28,607,760 | $ | 8,116,915 | $ | 10,634,908 | ||||||||||||
Composition of Net Assets | ||||||||||||||||||||||
Paid-in capital | $ | 229,609,086 | $ | 186,696,893 | $ | 30,185,862 | $ | 17,062,149 | $ | 32,396,065 | ||||||||||||
Undistributed (accumulated) net investment income (loss) | (3,146,506 | ) | (1,871,841 | ) | 143,363 | 243,801 | 14,191 | |||||||||||||||
Undistributed (accumulated) net realized gain (loss) | (45,667,465 | ) | (351,179 | ) | (2,102,460 | ) | (9,031,862 | ) | (20,576,703 | ) | ||||||||||||
Net unrealized appreciation (depreciation) | (1,344,892 | ) | 4,359,209 | 380,995 | (157,173 | ) | (1,198,645 | ) | ||||||||||||||
Net Assets | $ | 179,450,223 | $ | 188,833,082 | $ | 28,607,760 | $ | 8,116,915 | $ | 10,634,908 | ||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||||
Shares Outstanding (no par value, unlimited shares authorized) | 6,950,000 | 6,250,000 | 1,050,000 | 500,000 | 650,000 | |||||||||||||||||
Net Asset Value Per Share | $ | 25.82 | $ | 30.21 | $ | 27.25 | $ | 16.23 | $ | 16.36 | ||||||||||||
Investments, at cost | $ | 188,389,607 | $ | 190,981,734 | $ | 31,720,097 | $ | 9,400,684 | $ | 12,658,070 | ||||||||||||
(a) Market value of securities on loan | $ | 7,946,393 | $ | 7,519,320 | $ | 5,430,091 | $ | 1,169,028 | $ | 797,083 | ||||||||||||
(b) Cost of foreign currency | $ | 14,143 | $ | (5,845,694 | ) | $ | — | $ | (722 | ) | $ | 7,987 | ||||||||||
(c) Non-cash collateral for securities on loan | $ | 6,148,808 | $ | 5,306,619 | $ | 2,083,815 | $ | 105,645 | $ | — |
See notes to financial statements.
Statements of Assets and Liabilities (continued)
April 30, 2017
IQ Global Agribusiness Small Cap ETF | IQ Global Oil Small Cap ETF | IQ U.S Real Estate Small Cap ETF | IQ 50 Percent Hedged FTSE International ETF | IQ 50 Percent Hedged FTSE Europe ETF | ||||||||||||||||||
Assets | ||||||||||||||||||||||
Investments, at value (including securities on loan)(a) | $ | 13,641,420 | $ | 3,331,338 | $ | 123,820,036 | $ | 213,442,506 | $ | 84,658,075 | ||||||||||||
Foreign currency(b) | 382 | 18,760 | — | 85,753 | 109,209 | |||||||||||||||||
Dividend, interest, reclaim and security lending income receivables | 68,146 | 3,700 | 114,535 | 911,651 | 322,536 | |||||||||||||||||
Receivable for investments sold | — | 1,784 | — | 680,826 | 454,541 | |||||||||||||||||
Unrealized appreciation on forward foreign currency contracts | — | — | — | 295,628 | 8,448 | |||||||||||||||||
Total Assets | 13,709,948 | 3,355,582 | 123,934,571 | 215,416,364 | 85,552,809 | |||||||||||||||||
Liabilities | ||||||||||||||||||||||
Collateral for investments on loan(c) | 500,300 | 644,567 | 9,870,960 | 5,248,703 | 2,849,661 | |||||||||||||||||
Advisory fees payable | 8,326 | 1,728 | 61,396 | 58,463 | 29,558 | |||||||||||||||||
Cash due to custodian | 5,636 | 13,809 | — | 224,256 | — | |||||||||||||||||
Compliance fees payable | 5 | 1 | 32 | 62 | 25 | |||||||||||||||||
Unrealized depreciation on forward foreign currency contracts | — | — | — | 1,287,232 | 827,101 | |||||||||||||||||
Accrued expenses and other liabilities | 266 | 96 | 1,461 | 2,899 | 1,189 | |||||||||||||||||
Total Liabilities | 514,533 | 660,201 | 9,933,849 | 6,821,615 | 3,707,534 | |||||||||||||||||
Net Assets | $ | 13,195,415 | $ | 2,695,381 | $ | 114,000,722 | $ | 208,594,749 | $ | 81,845,275 | ||||||||||||
Composition of Net Assets | ||||||||||||||||||||||
Paid-in capital | $ | 19,710,695 | $ | 4,923,420 | $ | 115,109,228 | $ | 190,281,293 | $ | 79,817,343 | ||||||||||||
Undistributed (accumulated) net investment income (loss) | 57,527 | 35,988 | 116,201 | 862,280 | 411,167 | |||||||||||||||||
Undistributed (accumulated) net realized gain (loss) | (8,514,358 | ) | (1,994,494 | ) | (4,925,112 | ) | 453,051 | 89,720 | ||||||||||||||
Net unrealized appreciation (depreciation) | 1,941,551 | (269,533 | ) | 3,700,405 | 16,998,125 | 1,527,045 | ||||||||||||||||
Net Assets | $ | 13,195,415 | $ | 2,695,381 | $ | 114,000,722 | $ | 208,594,749 | $ | 81,845,275 | ||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||||
Shares Outstanding (no par value, unlimited shares authorized) | 400,000 | 250,000 | 4,200,000 | 10,600,001 | 4,350,001 | |||||||||||||||||
Net Asset Value Per Share | $ | 32.99 | $ | 10.78 | $ | 27.14 | $ | 19.68 | $ | 18.82 | ||||||||||||
Investments, at cost | $ | 11,699,353 | $ | 3,600,822 | $ | 120,119,631 | $ | 195,457,662 | $ | 82,318,369 | ||||||||||||
(a) Market value of securities on loan | $ | 1,211,586 | $ | 619,533 | $ | 33,816,125 | $ | 5,136,502 | $ | 2,744,208 | ||||||||||||
(b) Cost of foreign currency | $ | 382 | $ | 18,782 | $ | — | $ | 84,336 | $ | 105,796 | ||||||||||||
(c) Non-cash collateral for securities on loan | $ | 752,636 | $ | — | $ | 25,599,232 | $ | 147,653 | $ | 29,972 |
See notes to financial statements.
Statements of Assets and Liabilities (continued)
April 30, 2017
IQ 50 Percent Hedged FTSE Japan ETF | IQ Leaders GTAA Tracker ETF | IQ Enhanced Core Bond U.S. ETF | IQ Enhanced Core Plus Bond U.S. ETF | IQ S&P High Yield Low Volatility Bond ETF | ||||||||||||||||||
Assets | ||||||||||||||||||||||
Investments, at value (including securities on loan)(a) | $ | 27,835,480 | $ | 42,161,935 | $ | 74,288,128 | $ | 266,128,953 | $ | 48,604,930 | ||||||||||||
Foreign currency(b) | 2,688 | — | — | — | — | |||||||||||||||||
Dividend, interest, reclaim and security lending income receivables | 230,570 | 2,837 | 1,523 | 8,377 | 702,093 | |||||||||||||||||
Receivable for investments sold | 69,570 | — | — | — | 2,363,751 | |||||||||||||||||
Unrealized appreciation on forward foreign currency contracts | 25,411 | — | — | — | — | |||||||||||||||||
Receivable for capital shares transactions | — | — | — | — | 2,516,869 | |||||||||||||||||
Due from broker | — | 62,802 | — | — | — | |||||||||||||||||
Total Assets | 28,163,719 | 42,227,574 | 74,289,651 | 266,137,330 | 54,187,643 | |||||||||||||||||
Liabilities | ||||||||||||||||||||||
Cash due to custodian | 243,156 | — | 24 | — | — | |||||||||||||||||
Collateral for investments on loan(c) | 161,066 | 7,929,366 | 43,750 | 35,309,561 | — | |||||||||||||||||
Advisory fees payable | 10,080 | 12,488 | 12,720 | 37,369 | 14,677 | |||||||||||||||||
Unrealized depreciation on forward foreign currency contracts | 9,231 | — | — | — | — | |||||||||||||||||
Payable for investments purchased | — | — | — | — | 2,480,659 | |||||||||||||||||
Compliance fees payable | 9 | 10 | 24 | 67 | 13 | |||||||||||||||||
Payable for capital shares repurchased | — | �� | — | — | — | 2,520,235 | ||||||||||||||||
Due to broker | — | 45,384 | — | — | 26,751 | |||||||||||||||||
Accrued expenses and other liabilities | 446 | 556 | 1,159 | 3,154 | 702 | |||||||||||||||||
Total Liabilities | 423,988 | 7,987,804 | 57,677 | 35,350,151 | 5,043,037 | |||||||||||||||||
Net Assets | $ | 27,739,731 | $ | 34,239,770 | $ | 74,231,974 | $ | 230,787,179 | $ | 49,144,606 | ||||||||||||
Composition of Net Assets | ||||||||||||||||||||||
Paid-in capital | $ | 27,830,914 | $ | 32,884,293 | $ | 77,338,088 | $ | 234,856,358 | $ | 48,741,954 | ||||||||||||
Undistributed (accumulated) net investment income (loss) | 110,861 | 96,009 | — | — | 141,320 | |||||||||||||||||
Undistributed (accumulated) net realized gain (loss) | (1,843,969 | ) | (564,244 | ) | (2,587,237 | ) | (4,492,107 | ) | (18,340 | ) | ||||||||||||
Net unrealized appreciation (depreciation) | 1,641,925 | 1,823,712 | (518,877 | ) | 422,928 | 279,672 | ||||||||||||||||
Net Assets | $ | 27,739,731 | $ | 34,239,770 | $ | 74,231,974 | $ | 230,787,179 | $ | 49,144,606 | ||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||||
Shares Outstanding (no par value, unlimited shares authorized) | 1,450,001 | 1,500,001 | 3,800,001 | 11,550,001 | 1,950,001 | |||||||||||||||||
Net Asset Value Per Share | $ | 19.13 | $ | 22.83 | $ | 19.53 | $ | 19.98 | $ | 25.20 | ||||||||||||
Investments, at cost: | $ | 26,209,154 | $ | 40,338,223 | $ | 74,807,005 | $ | 265,706,025 | $ | 48,325,258 | ||||||||||||
(a) Market value of securities on loan | $ | 294,596 | $ | 8,187,870 | $ | 12,066,518 | $ | 34,578,216 | $ | — | ||||||||||||
(b) Cost of foreign currency | $ | 2,713 | $ | — | $ | — | $ | — | $ | — | ||||||||||||
(c) Non-cash collateral for securities on loan | $ | 151,642 | $ | 444,911 | $ | 12,426,017 | $ | 22,774 | $ | — |
See notes to financial statements.
IQ Hedge Multi-Strategy Tracker ETF | IQ Hedge Macro Tracker ETF | IQ Hedge Market Neutral Tracker ETF | IQ Hedge Long/Short Tracker ETF | IQ Hedge Event-Driven Tracker ETF | ||||||||||||||||||
Investment Income | ||||||||||||||||||||||
Dividend income | $ | 26,712,510 | $ | 206,655 | $ | 277,362 | $ | 49,353 | $ | 125,802 | ||||||||||||
Income from Affiliates | 198,160 | — | — | — | — | |||||||||||||||||
Securities lending income, net of borrower rebates | 1,104,151 | 28,966 | 13,578 | 1,634 | 680 | |||||||||||||||||
Total investment income | 28,014,821 | 235,621 | 290,940 | 50,987 | 126,482 | |||||||||||||||||
Expenses | ||||||||||||||||||||||
Advisory fees | 8,494,024 | 78,368 | 100,935 | 14,988 | 26,619 | |||||||||||||||||
Trustee fees | 48,501 | 582 | 639 | 82 | 132 | |||||||||||||||||
Legal fees | 23,410 | 265 | 275 | 40 | 78 | |||||||||||||||||
Compliance fees | 340 | 2 | 3 | 1 | 1 | |||||||||||||||||
Miscellaneous | 965 | 58 | 33 | 258 | 112 | |||||||||||||||||
Total expenses | 8,567,240 | 79,275 | 101,885 | 15,369 | 26,942 | |||||||||||||||||
Net investment income | 19,447,581 | 156,346 | 189,055 | 35,618 | 99,540 | |||||||||||||||||
Realized and Unrealized Gain (Loss) on Investments and Swap Transactions | ||||||||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||||||||
Investment securities | 17,726,877 | (53,502 | ) | 398,296 | (44,990 | ) | (64,632 | ) | ||||||||||||||
Investment in Affiliates | (1,922,633 | ) | — | — | — | — | ||||||||||||||||
In-Kind redemptions | 6,519,208 | 40,958 | 128,188 | 175,790 | 56,916 | |||||||||||||||||
Affiliates In-Kind redemptions | 6,665 | — | — | — | — | |||||||||||||||||
Swap transactions | (31,257,134 | ) | (142,542 | ) | (481,949 | ) | (43,590 | ) | 3,538 | |||||||||||||
Distributions by other investment companies | 72,217 | 1,104 | 1,048 | 4 | 424 | |||||||||||||||||
Net realized gain (loss) | (8,854,800 | ) | (153,982 | ) | 45,583 | 87,214 | (3,754 | ) | ||||||||||||||
Net change in net unrealized appreciation (depreciation) | ||||||||||||||||||||||
Investment securities | (6,724,170 | ) | 319,738 | (191,762 | ) | 50,947 | 115,772 | |||||||||||||||
Net change in net unrealized appreciation (depreciation) | (6,724,170 | ) | 319,738 | (191,762 | ) | 50,947 | 115,772 | |||||||||||||||
Net realized and unrealized gain (loss) | (15,578,970 | ) | 165,756 | (146,179 | ) | 138,161 | 112,018 | |||||||||||||||
Net Increase in Net Assets Resulting from Operations | $ | 3,868,611 | $ | 322,102 | $ | 42,876 | $ | 173,779 | $ | 211,558 |
See notes to financial statements.
Statements of Operations (continued)
For the year ended April 30, 2017
IQ Global Resources ETF | IQ Merger Arbitrage ETF | IQ Real Return ETF | IQ Australia Small Cap ETF | IQ Canada Small Cap ETF | ||||||||||||||||||
Investment Income | ||||||||||||||||||||||
Dividend income* | $ | 2,910,417 | $ | 2,306,413 | $ | 282,713 | $ | 300,261 | $ | 194,629 | ||||||||||||
Securities lending income, net of borrower rebates | 26,735 | 48,720 | 69,161 | 12,424 | 19,795 | |||||||||||||||||
Total investment income | 2,937,152 | 2,355,133 | 351,874 | 312,685 | 214,424 | |||||||||||||||||
Expenses | ||||||||||||||||||||||
Advisory fees | 1,079,016 | 1,116,861 | 128,818 | 57,346 | 76,393 | |||||||||||||||||
Trustee fees | 3,871 | 6,027 | 1,152 | 299 | 424 | |||||||||||||||||
Legal fees | 3,159 | 3,115 | 568 | 167 | 221 | |||||||||||||||||
Compliance fees | 56 | 53 | 9 | 3 | 3 | |||||||||||||||||
Miscellaneous | 58 | 10,609 | 58 | 58 | 58 | |||||||||||||||||
Total expenses | 1,086,160 | 1,136,665 | 130,605 | 57,873 | 77,099 | |||||||||||||||||
Net investment income | 1,850,992 | 1,218,468 | 221,269 | 254,812 | 137,325 | |||||||||||||||||
Realized and Unrealized Gain (Loss) on Investments, Swap Transactions and Forward foreign currency contracts and translation | ||||||||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||||||||
Investment securities | 6,076,814 | 5,127,655 | 118,771 | (198,080 | ) | (52,441 | ) | |||||||||||||||
In-Kind redemptions | 9,922,279 | 2,353,649 | 29,297 | 158,929 | 287,659 | |||||||||||||||||
Swap transactions | (4,977,928 | ) | (2,936,114 | ) | — | — | — | |||||||||||||||
Foreign currency translations | (348,163 | ) | (60,758 | ) | — | (1,252 | ) | (4,558 | ) | |||||||||||||
Net realized gain (loss) | 10,673,002 | 4,484,432 | 148,068 | (40,403 | ) | 230,660 | ||||||||||||||||
Net change in net unrealized appreciation (depreciation) | ||||||||||||||||||||||
Investment securities | (7,328,574 | ) | 3,959,226 | 128,231 | 359,562 | (411,405 | ) | |||||||||||||||
Foreign currency translation | (3,271 | ) | (14,735 | ) | — | 19 | (706 | ) | ||||||||||||||
Net change in net unrealized appreciation (depreciation) | (7,331,845 | ) | 3,944,491 | 128,231 | 359,581 | (412,111 | ) | |||||||||||||||
Net realized and unrealized gain (loss) | 3,341,157 | 8,428,923 | 276,299 | 319,178 | (181,451 | ) | ||||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 5,192,149 | $ | 9,647,391 | $ | 497,568 | $ | 573,990 | $ | (44,126 | ) | |||||||||||
*Net of foreign taxes withheld of: | $ | 183,474 | $ | 42,813 | $ | — | $ | 2,952 | $ | 34,233 |
See notes to financial statements.
Statements of Operations (continued)
For the year ended April 30, 2017
IQ Global Agribusiness Small Cap ETF | IQ Global Oil Small Cap ETF | IQ U.S. Real Estate Small Cap ETF | IQ 50 Percent Hedged FTSE International ETF | IQ 50 Percent Hedged FTSE Europe ETF | ||||||||||||||||||
Investment Income | ||||||||||||||||||||||
Dividend income* | $ | 179,545 | $ | 58,241 | $ | 2,901,272 | $ | 4,467,915 | $ | 1,661,298 | ||||||||||||
Securities lending income, net of borrower rebates | 51,961 | 10,507 | 30,620 | 8,128 | 3,670 | |||||||||||||||||
Total investment income | 231,506 | 68,748 | 2,931,892 | 4,476,043 | 1,664,968 | |||||||||||||||||
Expenses | ||||||||||||||||||||||
Advisory fees | 99,394 | 25,277 | 607,056 | 539,572 | 188,636 | |||||||||||||||||
Trustee fees | 532 | 125 | 3,427 | 4,322 | 1,489 | |||||||||||||||||
Legal fees | 264 | 180 | 1,819 | 3,502 | 1,173 | |||||||||||||||||
Compliance fees | 4 | 1 | 32 | 62 | 25 | |||||||||||||||||
Miscellaneous | 87 | 928 | 58 | 58 | 58 | |||||||||||||||||
Total expenses | 100,281 | 26,511 | 612,392 | 547,516 | 191,381 | |||||||||||||||||
Net investment income | 131,225 | 42,237 | 2,319,500 | 3,928,527 | 1,473,587 | |||||||||||||||||
Realized and Unrealized Gain (Loss) on Investments and Forward foreign currency contracts and translation | ||||||||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||||||||
Investment securities | (1,140,896 | ) | (327,801 | ) | (1,006,521 | ) | (1,116,725 | ) | (890,131 | ) | ||||||||||||
In-Kind redemptions | 385,609 | 268,281 | 2,581,610 | 612,344 | (2,415,875 | ) | ||||||||||||||||
Distributions by other investment companies | — | — | 6,930 | — | — | |||||||||||||||||
Forward foreign currency contracts and translations | (4,364 | ) | (3,230 | ) | — | 4,205,486 | 2,630,951 | |||||||||||||||
Payment by affiliates (see note 9) | — | — | — | 134,594 | — | |||||||||||||||||
Net realized gain (loss) | (759,651 | ) | (62,750 | ) | 1,582,019 | 3,835,699 | (675,055 | ) | ||||||||||||||
Net change in net unrealized appreciation (depreciation) | ||||||||||||||||||||||
Investment securities | 2,018,312 | 40,940 | 6,491,993 | 18,137,156 | 3,711,258 | |||||||||||||||||
Forward foreign currency contracts and translations | (1,989 | ) | (319 | ) | — | (503,895 | ) | (572,936 | ) | |||||||||||||
Net change in net unrealized appreciation (depreciation) | 2,016,323 | 40,621 | 6,491,993 | 17,633,261 | 3,138,322 | |||||||||||||||||
Net realized and unrealized gain (loss) | 1,256,672 | (22,129 | ) | 8,074,012 | 21,468,960 | 2,463,267 | ||||||||||||||||
Net Increase in Net Assets Resulting from Operations | $ | 1,387,897 | $ | 20,108 | $ | 10,393,512 | $ | 25,397,487 | $ | 3,936,854 | ||||||||||||
*Net of foreign taxes withheld of: | $ | 14,616 | $ | 4,355 | $ | — | $ | 415,065 | $ | 182,099 |
See notes to financial statements.
Statements of Operations (continued)
For the year ended April 30, 2017
IQ 50 Percent Hedged FTSE Japan ETF | IQ Leaders GTAA Tracker ETF | IQ Enhanced Core Bond U.S. ETF** | IQ Enhanced Core Plus Bond U.S. ETF** | IQ S&P High Yield Low Volatility Bond ETF*** | ||||||||||||||||||
Investment Income | ||||||||||||||||||||||
Dividend income* | $ | 512,558 | $ | 738,436 | $ | 1,594,827 | $ | 5,512,059 | $ | — | ||||||||||||
Interest income | — | — | — | — | 354,700 | |||||||||||||||||
Securities lending income, net of borrower rebates | 1,411 | 27,338 | 16,444 | 117,212 | — | |||||||||||||||||
Total investment income | 513,969 | 765,774 | 1,611,271 | 5,629,271 | 354,700 | |||||||||||||||||
Expenses | ||||||||||||||||||||||
Advisory fees | 116,369 | 128,426 | 171,957 | 480,279 | 31,901 | |||||||||||||||||
Trustee fees | 1,078 | 666 | 1,757 | 4,707 | — | |||||||||||||||||
Legal fees | 382 | 633 | 1,477 | 4,185 | 646 | |||||||||||||||||
Compliance fees | 9 | 10 | 24 | 66 | 13 | |||||||||||||||||
Miscellaneous | 58 | 231 | 56 | 56 | 56 | |||||||||||||||||
Total expenses | 117,896 | 129,966 | 175,271 | 489,293 | 32,616 | |||||||||||||||||
Waivers | — | — | (34,393 | ) | (96,059 | ) | (712 | ) | ||||||||||||||
Net expenses | 117,896 | 129,966 | 140,878 | 393,234 | 31,904 | |||||||||||||||||
Net investment income | 396,073 | 635,808 | 1,470,393 | 5,236,037 | 322,796 | |||||||||||||||||
Realized and Unrealized Gain (Loss) on Investments, Swap Transactions and Forward foreign currency contracts and translation | ||||||||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||||||||
Investment securities | (360,336 | ) | (546,972 | ) | (2,615,870 | ) | (4,590,259 | ) | (18,340 | ) | ||||||||||||
In-Kind redemptions | — | 1,444,632 | 144,911 | 117,877 | 4,436 | |||||||||||||||||
Swap transactions | — | 68,977 | — | — | — | |||||||||||||||||
Distributions by other investment companies | — | 1,152 | 18,946 | 129,214 | — | |||||||||||||||||
Forward foreign currency contracts and translations | (85,577 | ) | — | — | — | — | ||||||||||||||||
Net realized gain (loss) | (445,913 | ) | 967,789 | (2,452,013 | ) | (4,343,168 | ) | (13,904 | ) | |||||||||||||
Net change in net unrealized appreciation (depreciation) | ||||||||||||||||||||||
Investment securities | 2,655,820 | 1,766,086 | (518,877 | ) | 422,928 | 279,672 | ||||||||||||||||
Forward foreign currency contracts and translations | 622,845 | — | — | — | — | |||||||||||||||||
Net change in net unrealized appreciation (depreciation) | 3,278,665 | 1,766,086 | (518,877 | ) | 422,928 | 279,672 | ||||||||||||||||
Net realized and unrealized gain (loss) | 2,832,752 | 2,733,875 | (2,970,890 | ) | (3,920,240 | ) | 265,768 | |||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 3,228,825 | $ | 3,369,683 | $ | (1,500,497 | ) | $ | 1,315,797 | $ | 588,564 | |||||||||||
*Net of foreign taxes withheld of: | $ | 56,634 | $ | — | $ | — | $ | — | $ | — |
** | Commencement of operations May 10, 2016. |
*** | Commencement of operations February 15, 2017. |
See notes to financial statements.
IQ Hedge Multi-Strategy Tracker ETF | IQ Hedge Macro Tracker ETF | IQ Hedge Market Neutral Tracker ETF | |||||||||||||||||||||||||
For the Year Ended April 30, | For the Year Ended April 30, | For the Year Ended April 30, | |||||||||||||||||||||||||
2017 | 2016 | 2017 | 2016 | 2017 | 2016 | ||||||||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||||||||||
Net investment income | $ | 19,447,581 | $ | 15,711,328 | $ | 156,346 | $ | 333,647 | $ | 189,055 | $ | 159,274 | |||||||||||||||
Net realized gain (loss) on Investments and Swap Transactions | (8,854,800 | ) | (59,201,447 | ) | (153,982 | ) | (607,158 | ) | 45,583 | (298,908 | ) | ||||||||||||||||
Net change in net unrealized appreciation (depreciation) on Investments and Swap Transactions | (6,724,170 | ) | 13,020,643 | 319,738 | (389,428 | ) | (191,762 | ) | 129,751 | ||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 3,868,611 | (30,469,476 | ) | 322,102 | (662,939 | ) | 42,876 | (9,883 | ) | ||||||||||||||||||
Dividends and Distributions to Shareholders from: | |||||||||||||||||||||||||||
Net investment income | (21,554 | ) | (5,414,930 | ) | — | (186,676 | ) | (173,905 | ) | — | |||||||||||||||||
Capital Share Transactions | |||||||||||||||||||||||||||
Proceeds from shares created | 152,639,051 | 464,603,240 | 1,231,323 | — | 1,287,101 | 11,333,780 | |||||||||||||||||||||
Cost of shares redeemed | (168,026,883 | ) | (355,438,803 | ) | (9,982,845 | ) | (6,192,864 | ) | (5,086,305 | ) | (8,795,969 | ) | |||||||||||||||
Net increase (decrease) from capital share transactions | (15,387,832 | ) | 109,164,437 | (8,751,522 | ) | (6,192,864 | ) | (3,799,204 | ) | 2,537,811 | |||||||||||||||||
Total increase (decrease) in net assets | (11,540,775 | ) | 73,280,031 | (8,429,420 | ) | (7,042,479 | ) | (3,930,233 | ) | 2,527,928 | |||||||||||||||||
Net Assets | |||||||||||||||||||||||||||
Beginning of year | 1,074,120,172 | 1,000,840,141 | 14,794,366 | 21,836,845 | 15,294,344 | 12,766,416 | |||||||||||||||||||||
End of year | $ | 1,062,579,397 | $ | 1,074,120,172 | $ | 6,364,946 | $ | 14,794,366 | $ | 11,364,111 | $ | 15,294,344 | |||||||||||||||
Including undistributed (accumulated) net investment income (loss) as follows: | $ | (2,362,666 | ) | $ | (2,211,670 | ) | $ | 136 | $ | (244,181 | ) | $ | (142,935 | ) | $ | 188,313 | |||||||||||
Changes in Shares Outstanding | |||||||||||||||||||||||||||
Shares outstanding, beginning of year | 37,000,000 | 33,350,000 | 600,000 | 850,000 | 600,000 | 500,000 | |||||||||||||||||||||
Shares created | 5,250,000 | 15,900,000 | 50,000 | — | 50,000 | 450,000 | |||||||||||||||||||||
Shares redeemed | (5,800,000 | ) | (12,250,000 | ) | (400,000 | ) | (250,000 | ) | (200,000 | ) | (350,000 | ) | |||||||||||||||
Shares outstanding, end of year | 36,450,000 | 37,000,000 | 250,000 | 600,000 | 450,000 | 600,000 |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
IQ Hedge Long/Short Tracker ETF | IQ Hedge Event-Driven Tracker ETF | IQ Global Resources ETF | |||||||||||||||||||||||||
For the Year Ended April 30, | For the Year Ended April 30, | For the Year Ended April 30, | |||||||||||||||||||||||||
2017 | 2016 | 2017 | 2016 | 2017 | 2016 | ||||||||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||||||||||
Net investment income | $ | 35,618 | $ | 41,034 | $ | 99,540 | $ | 54,468 | $ | 1,850,992 | $ | 1,257,483 | |||||||||||||||
Net realized gain (loss) on Investments, Swap Transactions, and Forward foreign currency contracts and translations | 87,214 | (126,034 | ) | (3,754 | ) | 1,230 | 10,673,002 | (14,553,539 | ) | ||||||||||||||||||
Net change in net unrealized appreciation (depreciation) on Investments, Swap Transactions and Forward foreign currency contracts and translation | 50,947 | 16,183 | 115,772 | (81,764 | ) | (7,331,845 | ) | 8,609,200 | |||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 173,779 | (68,817 | ) | 211,558 | (26,066 | ) | 5,192,149 | (4,686,856 | ) | ||||||||||||||||||
Dividends and Distributions to Shareholders from: | |||||||||||||||||||||||||||
Net investment income | (5,839 | ) | (35,914 | ) | (114,315 | ) | (35,251 | ) | (676,550 | ) | (1,098,143 | ) | |||||||||||||||
Capital Share Transactions | |||||||||||||||||||||||||||
Proceeds from shares created | 4,982,047 | — | 5,065,335 | — | 179,178,063 | 20,271,481 | |||||||||||||||||||||
Cost of shares redeemed | (2,965,571 | ) | — | (4,014,533 | ) | — | (72,167,934 | ) | (13,149,347 | ) | |||||||||||||||||
Net increase (decrease) from capital share transactions | 2,016,476 | — | 1,050,802 | — | 107,010,129 | 7,122,134 | |||||||||||||||||||||
Total increase (decrease) in net assets | 2,184,416 | (104,731 | ) | 1,148,045 | (61,317 | ) | 111,525,728 | 1,337,135 | |||||||||||||||||||
Net Assets | |||||||||||||||||||||||||||
Beginning of year | 1,887,930 | 1,992,661 | 1,940,117 | 2,001,434 | 67,924,495 | 66,587,360 | |||||||||||||||||||||
End of year | $ | 4,072,346 | $ | 1,887,930 | $ | 3,088,162 | $ | 1,940,117 | $ | 179,450,223 | $ | 67,924,495 | |||||||||||||||
Including undistributed (accumulated) net investment income (loss) as follows: | $ | (10,481 | ) | $ | (7,433 | ) | $ | 32,303 | $ | 29,292 | $ | (3,146,506 | ) | $ | 675,490 | ||||||||||||
Changes in Shares Outstanding | |||||||||||||||||||||||||||
Shares outstanding, beginning of year | 100,001 | 100,001 | 100,001 | 100,001 | 2,750,000 | 2,450,000 | |||||||||||||||||||||
Shares created | 250,000 | — | 250,000 | — | 7,000,000 | 900,000 | |||||||||||||||||||||
Shares redeemed | (150,000 | ) | — | (200,000 | ) | — | (2,800,000 | ) | (600,000 | ) | |||||||||||||||||
Shares outstanding, end of year | 200,001 | 100,001 | 150,001 | 100,001 | 6,950,000 | 2,750,000 |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
IQ Merger Arbitrage ETF | IQ Real Return ETF | IQ Australia Small Cap ETF | |||||||||||||||||||||||||
For the Year Ended April 30, | For the Year Ended April 30, | For the Year Ended April 30, | |||||||||||||||||||||||||
2017 | 2016 | 2017 | 2016 | 2017 | 2016 | ||||||||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||||||||||
Net investment income | $ | 1,218,468 | $ | 111,217 | $ | 221,269 | $ | 85,255 | $ | 254,812 | $ | 150,527 | |||||||||||||||
Net realized gain (loss) on Investments, Swap Transactions and Forward foreign currency contracts and translations | 4,484,432 | (1,472,556 | ) | 148,068 | (75,958 | ) | (40,403 | ) | (755,990 | ) | |||||||||||||||||
Net change in net unrealized appreciation (depreciation) on Investments, Swap Transactions and Forward foreign currency contracts and translation | 3,944,491 | (1,169,275 | ) | 128,231 | 29,675 | 359,581 | 433,768 | ||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 9,647,391 | (2,530,614 | ) | 497,568 | 38,972 | 573,990 | (171,695 | ) | |||||||||||||||||||
Dividends and Distributions to Shareholders from: | |||||||||||||||||||||||||||
Net investment income | (291,365 | ) | (992,736 | ) | — | (2,630 | ) | (154,748 | ) | (225,046 | ) | ||||||||||||||||
Capital Share Transactions | |||||||||||||||||||||||||||
Proceeds from shares created | 80,811,670 | 84,329,157 | 4,053,675 | 6,628,991 | 1,675,079 | 2,216,487 | |||||||||||||||||||||
Cost of shares redeemed | (40,701,519 | ) | (62,886,075 | ) | (2,670,680 | ) | (7,969,178 | ) | (803,020 | ) | (701,728 | ) | |||||||||||||||
Net increase (decrease) from capital share transactions | 40,110,151 | 21,443,082 | 1,382,995 | (1,340,187 | ) | 872,059 | 1,514,759 | ||||||||||||||||||||
Total increase (decrease) in net assets | 49,466,177 | 17,919,732 | 1,880,563 | (1,303,845 | ) | 1,291,301 | 1,118,018 | ||||||||||||||||||||
Net Assets | |||||||||||||||||||||||||||
Beginning of year | 139,366,905 | 121,447,173 | 26,727,197 | 28,031,042 | 6,825,614 | 5,707,596 | |||||||||||||||||||||
End of year | $ | 188,833,082 | $ | 139,366,905 | $ | 28,607,760 | $ | 26,727,197 | $ | 8,116,915 | $ | 6,825,614 | |||||||||||||||
Including undistributed (accumulated) net investment income (loss) as follows: | $ | (1,871,841 | ) | $ | (110,786 | ) | $ | 143,363 | $ | (73,665 | ) | $ | 243,801 | $ | 116,307 | ||||||||||||
Changes in Shares Outstanding | |||||||||||||||||||||||||||
Shares outstanding, beginning of year | 4,900,000 | 4,200,000 | 1,000,000 | 1,050,000 | 450,000 | 350,000 | |||||||||||||||||||||
Shares created | 2,750,000 | 2,950,000 | 150,000 | 250,000 | 100,000 | 150,000 | |||||||||||||||||||||
Shares redeemed | (1,400,000 | ) | (2,250,000 | ) | (100,000 | ) | (300,000 | ) | (50,000 | ) | (50,000 | ) | |||||||||||||||
Shares outstanding, end of year | 6,250,000 | 4,900,000 | 1,050,000 | 1,000,000 | 500,000 | 450,000 |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
IQ Canada Small Cap ETF | IQ Global Agribusiness Small Cap ETF | IQ Global Oil Small Cap ETF | |||||||||||||||||||||||||
For the Year Ended April 30, | For the Year Ended April 30, | For the Year Ended April 30, | |||||||||||||||||||||||||
2017 | 2016 | 2017 | 2016 | 2017 | 2016 | ||||||||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||||||||||
Net investment income | $ | 137,325 | $ | 159,898 | $ | 131,225 | $ | 195,103 | $ | 42,237 | $ | 43,918 | |||||||||||||||
Net realized gain (loss) on Investments and Foreign currency translations | 230,660 | (2,493,874 | ) | (759,651 | ) | (1,133,248 | ) | (62,750 | ) | (892,731 | ) | ||||||||||||||||
Net change in net unrealized appreciation (depreciation) on Investments and Foreign currency translation | (412,111 | ) | 1,797,497 | 2,016,323 | 2,154,260 | 40,621 | (812,606 | ) | |||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | (44,126 | ) | (536,479 | ) | 1,387,897 | 1,216,115 | 20,108 | (1,661,419 | ) | ||||||||||||||||||
Dividends and Distributions to Shareholders from: | |||||||||||||||||||||||||||
Net investment income | (190,190 | ) | (192,923 | ) | (171,392 | ) | (166,361 | ) | (126,350 | ) | (72,240 | ) | |||||||||||||||
Capital Share Transactions | |||||||||||||||||||||||||||
Proceeds from shares created | 906,621 | 1,273,711 | 1,549,035 | 1,360,942 | 1,065,625 | — | |||||||||||||||||||||
Cost of shares redeemed | (851,785 | ) | — | (1,617,334 | ) | (3,993,142 | ) | (1,206,997 | ) | (562,900 | ) | ||||||||||||||||
Net increase from capital share transactions | 54,836 | 1,273,711 | (68,299 | ) | (2,632,200 | ) | (141,372 | ) | (562,900 | ) | |||||||||||||||||
Total increase (decrease) in net assets | (179,480 | ) | 544,309 | 1,148,206 | (1,582,446 | ) | (247,614 | ) | (2,296,559 | ) | |||||||||||||||||
Net Assets | |||||||||||||||||||||||||||
Beginning of year | 10,814,388 | 10,270,079 | 12,047,209 | 13,629,655 | 2,942,995 | 5,239,554 | |||||||||||||||||||||
End of year | $ | 10,634,908 | $ | 10,814,388 | $ | 13,195,415 | $ | 12,047,209 | $ | 2,695,381 | $ | 2,942,995 | |||||||||||||||
Including undistributed (accumulated) net investment income (loss) as follows: | $ | 14,191 | $ | 24,695 | $ | 57,527 | $ | 92,321 | $ | 35,988 | $ | 30,508 | |||||||||||||||
Changes in Shares Outstanding | |||||||||||||||||||||||||||
Shares outstanding, beginning of year | 650,000 | 550,000 | 400,000 | 500,000 | 250,000 | 300,000 | |||||||||||||||||||||
Shares created | 50,000 | 100,000 | 50,000 | 50,000 | 100,000 | — | |||||||||||||||||||||
Shares redeemed | (50,000 | ) | — | (50,000 | ) | (150,000 | ) | (100,000 | ) | (50,000 | ) | ||||||||||||||||
Shares outstanding, end of year | 650,000 | 650,000 | 400,000 | 400,000 | 250,000 | 250,000 |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
IQ U.S. Real Estate Small Cap ETF | IQ 50 Percent Hedged FTSE International ETF | IQ 50 Percent Hedged FTSE Europe ETF | ||||||||||||||||||||||||
For the Year Ended April 30, | For the Year Ended April 30, 2017 | For the Period July 22, 2015* to April 30, 2016 | For the Year Ended April 30, 2017 | For the Period July 22, 2015* to April 30, 2016 | ||||||||||||||||||||||
2017 | 2016 | |||||||||||||||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||||||||||||
Net investment income | $ | 2,319,500 | $ | 3,049,503 | $ | 3,928,527 | $ | 787,086 | $ | 1,473,587 | $ | 603,110 | ||||||||||||||
Net realized gain (loss) on Investments and forward foreign currency contracts and translations | 1,582,019 | (2,053,713 | ) | 3,835,699 | (605,016 | ) | (675,055 | ) | (85,511 | ) | ||||||||||||||||
Net change in net unrealized appreciation (depreciation) on Investments and forward foreign currency contracts and translation | 6,491,993 | (3,107,461 | ) | 17,633,261 | (635,136 | ) | 3,138,322 | (1,611,277 | ) | |||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 10,393,512 | (2,111,671 | ) | 25,397,487 | (453,066 | ) | 3,936,854 | (1,093,678 | ) | |||||||||||||||||
Dividends and Distributions to Shareholders from: | ||||||||||||||||||||||||||
Net investment income | (2,277,082 | ) | (3,031,724 | ) | (3,525,841 | ) | (446,626 | ) | (1,674,374 | ) | (331,580 | ) | ||||||||||||||
Return of Capital | (2,848,754 | ) | (1,905,746 | ) | — | — | — | — | ||||||||||||||||||
Net realized gains | — | — | (1,799,252 | ) | — | (1,256,080 | ) | — | ||||||||||||||||||
Total dividends and distributions to shareholders | (5,125,836 | ) | (4,937,470 | ) | (5,325,093 | ) | (446,626 | ) | (2,930,454 | ) | (331,580 | ) | ||||||||||||||
Capital Share Transactions | ||||||||||||||||||||||||||
Proceeds from shares created | 52,855,659 | 1,324,154 | 117,132,459 | 80,525,000 | 100,469,196 | 58,757,517 | ||||||||||||||||||||
Cost of shares redeemed | (20,785,531 | ) | (12,660,279 | ) | (4,620,407 | ) | (3,615,005 | ) | (66,353,843 | ) | (10,608,737 | ) | ||||||||||||||
Net increase (decrease) from capital share transactions | 32,070,128 | (11,336,125 | ) | 112,512,052 | 76,909,995 | 34,115,353 | 48,148,780 | |||||||||||||||||||
Total increase (decrease) in net assets | 37,337,804 | (18,385,266 | ) | 132,584,446 | 76,010,303 | 35,121,753 | 46,723,522 | |||||||||||||||||||
Net Assets | ||||||||||||||||||||||||||
Beginning of period | 76,662,918 | 95,048,184 | 76,010,303 | — | 46,723,522 | — | ||||||||||||||||||||
End of period | $ | 114,000,722 | $ | 76,662,918 | $ | 208,594,749 | $ | 76,010,303 | $ | 81,845,275 | $ | 46,723,522 | ||||||||||||||
Including undistributed (accumulated) net investment income (loss) as follows: | $ | 116,201 | $ | 55,101 | $ | 862,280 | $ | 608,564 | $ | 411,167 | $ | 670,698 | ||||||||||||||
Changes in Shares Outstanding | ||||||||||||||||||||||||||
Shares outstanding, beginning of period | 3,050,000 | 3,550,000 | 4,300,001 | — | 2,650,001 | — | ||||||||||||||||||||
Shares created | 1,950,000 | 50,000 | 6,550,000 | 4,500,001 | 5,650,000 | 3,250,001 | ||||||||||||||||||||
Shares redeemed | (800,000 | ) | (550,000 | ) | (250,000 | ) | (200,000 | ) | (3,950,000 | ) | (600,000 | ) | ||||||||||||||
Shares outstanding, end of period | 4,200,000 | 3,050,000 | 10,600,001 | 4,300,001 | 4,350,001 | 2,650,001 |
* | Commencement of operations. |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
IQ 50 Percent Hedged FTSE Japan ETF | IQ Leaders GTAA Tracker ETF | IQ Enhanced Core Bond U.S. ETF | IQ Enhanced Core Plus Bond U.S. ETF | IQ S&P High Yield Low Volatility Bond ETF | ||||||||||||||||||||||||||
For the Year Ended April 30, 2017 | For the Period July 22, 2015* to April 30, 2016 | For the Year Ended April 30, 2017 | For the Period September 30, 2015* to April 30, 2016 | For the Period May 10, 2016* to April 30, 2017 | For the Period May 10, 2016* to April 30, 2017 | For the Period February 15, 2017* to April 30, 2017 | ||||||||||||||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||||||||||||||||
Net investment income | $ | 396,073 | $ | 339,484 | $ | 635,808 | $ | 26,222 | $ | 1,470,393 | $ | 5,236,037 | $ | 322,796 | ||||||||||||||||
Net realized gain (loss) on Investments, Swap Transactions and Forward foreign currency contracts and translation | (445,913 | ) | (1,408,343 | ) | 967,789 | 11,918 | (2,452,013 | ) | (4,343,168 | ) | (13,904 | ) | ||||||||||||||||||
Net change in net unrealized appreciation (depreciation) on Investments, Swap Transactions and Forward foreign currency contracts and translation | 3,278,665 | (1,636,740 | ) | 1,766,086 | 57,626 | (518,877 | ) | 422,928 | 279,672 | |||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 3,228,825 | (2,705,599 | ) | 3,369,683 | 95,766 | (1,500,497 | ) | 1,315,797 | 588,564 | |||||||||||||||||||||
Dividends and Distributions to Shareholders from: | ||||||||||||||||||||||||||||||
Net investment income | (614,409 | ) | — | (576,860 | ) | (13,810 | ) | (1,478,105 | ) | (5,319,018 | ) | (181,476 | ) | |||||||||||||||||
Capital Share Transactions | ||||||||||||||||||||||||||||||
Proceeds from shares created | — | 27,830,914 | 50,067,774 | 4,099,527 | 110,679,288 | 334,275,090 | 51,257,753 | |||||||||||||||||||||||
Cost of shares redeemed | — | — | (20,716,891 | ) | (2,085,419 | ) | (33,468,712 | ) | (99,484,690 | ) | (2,520,235 | ) | ||||||||||||||||||
Net increase (decrease) from capital share transactions | — | 27,830,914 | 29,350,883 | 2,014,108 | 77,210,576 | 234,790,400 | 48,737,518 | |||||||||||||||||||||||
Total increase (decrease) in net assets | 2,614,416 | 25,125,315 | 32,143,706 | 2,096,064 | 74,231,974 | 230,787,179 | 49,144,606 | |||||||||||||||||||||||
Net Assets | ||||||||||||||||||||||||||||||
Beginning of period | 25,125,315 | — | 2,096,064 | — | — | — | — | |||||||||||||||||||||||
End of period | $ | 27,739,731 | $ | 25,125,315 | $ | 34,239,770 | $ | 2,096,064 | $ | 74,231,974 | $ | 230,787,179 | $ | 49,144,606 | ||||||||||||||||
Including undistributed (accumulated) net investment income (loss) as follows: | $ | 110,861 | $ | 355,358 | $ | 96,009 | $ | (380 | ) | $ | — | $ | — | $ | 141,320 | |||||||||||||||
Changes in Shares Outstanding | ||||||||||||||||||||||||||||||
Shares outstanding, beginning of period | 1,450,001 | — | 100,001 | — | — | — | — | |||||||||||||||||||||||
Shares created | — | 1,450,001 | 2,350,000 | 200,001 | 5,500,001 | 16,550,001 | 2,050,001 | |||||||||||||||||||||||
Shares redeemed | — | — | (950,000 | ) | (100,000 | ) | (1,700,000 | ) | (5,000,000 | ) | (100,000 | ) | ||||||||||||||||||
Shares outstanding, end of period | 1,450,001 | 1,450,001 | 1,500,001 | 100,001 | 3,800,001 | 11,550,001 | 1,950,001 |
* | Commencement of operations. |
See notes to financial statements.
IQ Hedge Multi-Strategy Tracker ETF | IQ Hedge Macro Tracker ETF | |||||||||||||||||||||||||||||||||||||||||
For the Year Ended April 30, | For the Year Ended April 30, | |||||||||||||||||||||||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Net asset value, beginning of year | $ | 29.03 | $ | 30.01 | $ | 29.26 | $ | 28.41 | $ | 27.66 | $ | 24.66 | $ | 25.69 | $ | 26.50 | $ | 26.90 | $ | 27.28 | ||||||||||||||||||||||
Income from Investment Operations | ||||||||||||||||||||||||||||||||||||||||||
Net investment income(a)* | 0.50 | 0.43 | 0.38 | 0.33 | 0.34 | 0.37 | 0.46 | 0.32 | 0.36 | 0.38 | ||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) on investments | (0.38 | ) | (1.30 | ) | 0.74 | 0.88 | 0.69 | 0.43 | (1.27 | ) | (0.79 | ) | (0.62 | ) | (0.29 | ) | ||||||||||||||||||||||||||
Distributions of net realized gains from investments in other investment companies | 0.00 | (b) | 0.03 | 0.02 | 0.01 | 0.03 | 0.00 | (b) | 0.05 | 0.00 | (b) | 0.02 | 0.01 | |||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 0.12 | (0.84 | ) | 1.14 | 1.22 | 1.06 | 0.80 | (0.76 | ) | (0.47 | ) | (0.24 | ) | 0.10 | ||||||||||||||||||||||||||||
Distributions from: | ||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.00 | )(c) | (0.14 | ) | (0.39 | ) | (0.37 | ) | (0.31 | ) | — | (0.27 | ) | (0.34 | ) | (0.16 | ) | (0.48 | ) | |||||||||||||||||||||||
Net asset value, end of year | $ | 29.15 | $ | 29.03 | $ | 30.01 | $ | 29.26 | $ | 28.41 | $ | 25.46 | $ | 24.66 | $ | 25.69 | $ | 26.50 | $ | 26.90 | ||||||||||||||||||||||
Market Price, end of year | $ | 29.15 | $ | 29.06 | $ | 30.00 | $ | 25.44 | $ | 24.80 | $ | 25.74 | ||||||||||||||||||||||||||||||
Total Return | ||||||||||||||||||||||||||||||||||||||||||
Total investment return based on net asset value(d) | 0.42 | % | (2.80 | )% | 3.93 | %(e) | 4.30 | %(e) | 3.85 | % | 3.25 | % | (2.97 | )% | (1.77 | )% | (0.90 | )% | 0.36 | % | ||||||||||||||||||||||
Total investment return based on Market Price(h) | 0.31 | % | (2.67 | )% | 3.79 | % | 2.58 | % | (2.60 | )% | (1.47 | )% | ||||||||||||||||||||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 1,062,579 | $ | 1,074,120 | $ | 1,000,840 | $ | 722,844 | $ | 383,501 | $ | 6,365 | $ | 14,794 | $ | 21,837 | $ | 26,504 | $ | 63,225 | ||||||||||||||||||||||
Ratio to average net assets of: | ||||||||||||||||||||||||||||||||||||||||||
Expenses(f) | 0.76 | % | 0.76 | % | 0.76 | % | 0.75 | % | 0.75 | % | 0.76 | % | 0.76 | % | 0.75 | % | 0.75 | % | 0.75 | % | ||||||||||||||||||||||
Net investment income (loss)* | 1.72 | % | 1.48 | % | 1.27 | % | 1.16 | % | 1.22 | % | 1.50 | % | 1.86 | % | 1.23 | % | 1.37 | % | 1.39 | % | ||||||||||||||||||||||
Portfolio turnover rate(g) | 285 | % | 312 | % | 81 | % | 119 | % | 159 | % | 68 | % | 99 | % | 101 | % | 58 | % | 146 | % |
* | Recognition of net investment income by the Fund is affected by the timing of the declaration of dividends by the investment companies in which the Fund invests. |
(a) | Based on average shares outstanding. |
(b) | Less than $0.005 per share. |
(c) | Less than $(0.005) per share. |
(d) | Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions, if any, at net asset value during the period, and redemption on the last day of the period. Total return calculated for a period less than one year is not annualized. |
(e) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(f) | Excludes expenses incurred by the underlying investments in other funds. |
(g) | Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as in-kind creations or redemptions in connection with the Fund’s capital share transactions. |
(h) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to 2017 the closing price listed on the NYSE Arca was used. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Hedge Market Neutral Tracker ETF | IQ Hedge Long/Short Tracker ETF | IQ Hedge Event-Driven Tracker ETF | |||||||||||||||||||||||||||||||||||||||||||||
For the Year Ended April 30, | For the Period October 4, 2012(a) to April 30, 2013 | For the Year Ended April 30, 2017 | For the Year Ended April 30, 2016 | For the Period March 24, 2015(a) to April 30, 2015 | For the Year Ended April 30, 2017 | For the Year Ended April 30, 2016 | For the Period March 24, 2015(a) to April 30, 2015 | ||||||||||||||||||||||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | ||||||||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 25.49 | $ | 25.53 | $ | 25.77 | $ | 25.69 | $ | 24.98 | $ | 18.88 | $ | 19.93 | $ | 20.00 | $ | 19.40 | $ | 20.01 | $ | 19.95 | |||||||||||||||||||||||||
Income from Investment Operations | |||||||||||||||||||||||||||||||||||||||||||||||
Net investment income(b)* | 0.36 | 0.27 | 0.16 | 0.16 | 0.06 | 0.35 | 0.41 | 0.04 | 0.56 | 0.54 | 0.02 | ||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) on investments | (0.25 | ) | (0.33 | ) | (0.09 | ) | 0.12 | 0.68 | 1.19 | (1.10 | ) | (0.11 | ) | 1.09 | (1.03 | ) | 0.03 | ||||||||||||||||||||||||||||||
Distributions of net realized gains from investments in other investment companies | 0.00 | (c) | 0.02 | 0.03 | 0.02 | 0.03 | 0.00 | (c) | — | — | 0.00 | (c) | 0.23 | 0.01 | |||||||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 0.11 | (0.04 | ) | 0.10 | 0.30 | 0.77 | 1.54 | (0.69 | ) | (0.07 | ) | 1.65 | (0.26 | ) | 0.06 | ||||||||||||||||||||||||||||||||
Distributions from: | |||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.35 | ) | — | (0.34 | ) | (0.22 | ) | (0.06 | ) | (0.06 | ) | (0.36 | ) | — | (0.46 | ) | (0.35 | ) | — | ||||||||||||||||||||||||||||
Net asset value, end of period | $ | 25.25 | $ | 25.49 | $ | 25.53 | $ | 25.77 | $ | 25.69 | $ | 20.36 | $ | 18.88 | $ | 19.93 | $ | 20.59 | $ | 19.40 | $ | 20.01 | |||||||||||||||||||||||||
Market Price, end of period | $ | 25.25 | $ | 25.43 | $ | 25.50 | $ | 20.34 | $ | 18.72 | $ | 20.79 | $ | 20.59 | $ | 19.43 | $ | 20.00 | |||||||||||||||||||||||||||||
Total Return | |||||||||||||||||||||||||||||||||||||||||||||||
Total investment return based on net asset value(d) | 0.44 | % | (0.15 | )% | 0.40 | % | 1.17 | % | 3.10 | % | 8.18 | % | (3.46 | )% | (0.35 | )% | 8.58 | % | (1.26 | )% | 0.30 | % | |||||||||||||||||||||||||
Total investment return based on Market Price(i) | 0.67 | % | 0.27 | % | 0.43 | % | 8.98 | % | (8.23 | )% | 3.95 | %(e) | 8.44 | % | (1.04 | )% | 0.25 | %(e) | |||||||||||||||||||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||||||||||||||||||||||||||||
Net assets, end of period (000’s omitted) | $ | 11,364 | $ | 15,294 | $ | 12,766 | $ | 16,748 | $ | 5,137 | $ | 4,072 | $ | 1,888 | $ | 1,993 | $ | 3,088 | $ | 1,940 | $ | 2,001 | |||||||||||||||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||||||||||||||||||||||||||||
Expenses(f) | 0.76 | % | 0.76 | % | 0.76 | % | 0.75 | % | 0.76 | %(g) | 0.77 | % | 0.76 | % | 0.75 | %(g) | 0.76 | % | 0.79 | % | 0.75 | %(g) | |||||||||||||||||||||||||
Net investment income (loss)* | 1.40 | % | 1.09 | % | 0.64 | % | 0.64 | % | 0.40 | %(g) | 1.78 | % | 2.15 | % | 1.73 | %(g) | 2.80 | % | 2.81 | % | 1.31 | %(g) | |||||||||||||||||||||||||
Portfolio turnover rate(h) | 99 | % | 135 | % | 101 | % | 51 | % | 29 | % | 147 | % | 94 | % | 4 | % | 68 | % | 16 | % | 6 | % |
* | Recognition of net investment income by the Fund is affected by the timing of the declaration of dividends by the investment companies in which the Fund invests. |
(a) | Commencement of operations |
(b) | Based on average shares outstanding. |
(c) | Less than $0.005 per share. |
(d) | Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions, if any, at net asset value during the period, and redemption on the last day of the period. Total return calculated for a period less than one year is not annualized. |
(e) | Since the Shares of the Funds did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate the market returns. |
(f) | Excludes expenses incurred by the underlying investments in other funds. |
(g) | Annualized. |
(h) | Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as in-kind creations or redemptions in connection with the Fund’s capital share transactions. |
(i) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to 2017 the closing price listed on the NYSE Arca was used. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Global Resources ETF | IQ Merger Arbitrage ETF | ||||||||||||||||||||||||||||||||||||||||||
For the Year Ended April 30, | For the Year Ended April 30, | ||||||||||||||||||||||||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||
Net asset value, beginning of year | $ | 24.70 | $ | 27.18 | $ | 29.21 | $ | 28.50 | $ | 28.95 | $ | 28.44 | $ | 28.92 | $ | 27.09 | $ | 25.60 | $ | 26.02 | |||||||||||||||||||||||
Income from Investment Operations | |||||||||||||||||||||||||||||||||||||||||||
Net investment income(a)* | 0.33 | 0.56 | 0.37 | 0.41 | 0.40 | 0.24 | (g) | 0.02 | 0.04 | 0.03 | 0.09 | ||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 0.89 | (2.48 | ) | (2.05 | ) | 0.61 | (0.48 | ) | 1.59 | (0.25 | ) | 1.79 | 1.72 | (0.46 | ) | ||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 1.22 | (1.92 | ) | (1.68 | ) | 1.02 | (0.08 | ) | 1.83 | (0.23 | ) | 1.83 | 1.75 | (0.37 | ) | ||||||||||||||||||||||||||||
Distributions from: | |||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.10 | ) | (0.56 | ) | (0.35 | ) | (0.31 | ) | (0.37 | ) | (0.06 | ) | (0.25 | ) | — | (0.26 | ) | (0.05 | ) | ||||||||||||||||||||||||
Net asset value, end of year | $ | 25.82 | $ | 24.70 | $ | 27.18 | $ | 29.21 | $ | 28.50 | $ | 30.21 | $ | 28.44 | $ | 28.92 | $ | 27.09 | $ | 25.60 | |||||||||||||||||||||||
Market Price, end of year | $ | 25.95 | $ | 24.78 | $ | 27.18 | $ | 30.27 | $ | 28.51 | $ | 28.97 | |||||||||||||||||||||||||||||||
Total Return | |||||||||||||||||||||||||||||||||||||||||||
Total investment return based on net asset value(b) | 4.94 | % | (6.71 | )%(c) | (5.75 | )%(c) | 3.61 | %(c) | (0.35 | )% | 6.45 | % | (0.79 | )% | 6.76 | % | 6.88 | % | (1.42 | )% | |||||||||||||||||||||||
Total investment return based on Market Price(f) | 5.13 | % | (6.41 | )% | (5.97 | )% | 6.39 | % | (0.73 | )% | 6.31 | % | |||||||||||||||||||||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 179,450 | $ | 67,924 | $ | 66,587 | $ | 84,719 | $ | 85,511 | $ | 188,833 | $ | 139,367 | $ | 121,447 | $ | 33,862 | $ | 14,078 | |||||||||||||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||||||||||||||||||||||||
Expenses(d) | 0.75 | % | 0.76 | % | 0.75 | % | 0.75 | % | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | 0.75 | % | 0.76 | % | |||||||||||||||||||||||
Net investment income (loss)* | 1.29 | % | 2.39 | % | 1.32 | % | 1.45 | % | 1.39 | % | 0.82 | %(g) | 0.09 | % | 0.14 | % | 0.13 | % | 0.36 | % | |||||||||||||||||||||||
Portfolio turnover rate(e) | 199 | % | 325 | % | 182 | % | 116 | % | 119 | % | 268 | % | 272 | % | 447 | % | 353 | % | 374 | % |
* | Recognition of net investment income by the Fund is affected by the timing of the declaration of dividends by the investment companies in which the Fund invests. |
(a) | Based on average shares outstanding. |
(b) | Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions, if any, at net asset value during the period, and redemption on the last day of the period. Total return calculated for a period less than one year is not annualized. |
(c) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(d) | Excludes expenses incurred by the underlying investments in other funds. |
(e) | Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as in-kind creations or redemptions in connection with the Fund’s capital share transactions. |
(f) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to 2017 the closing price listed on the NYSE Arca was used. |
(g) | Net investment income per share and ratio of net investment income to average net assets include a special cash dividend received of $0.14 per share owned of Calsonic Kansei Corp. on February 17, 2017. Net investment income per share and the net investment income to average net assets excluding the special dividend are $0.10 and 0.34% respectively. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Real Return ETF | IQ Australia Small Cap ETF | ||||||||||||||||||||||||||||||||||||||||||
For the Year Ended April 30, | For the Year Ended April 30, | ||||||||||||||||||||||||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||
Net asset value, beginning of year | $ | 26.73 | $ | 26.70 | $ | 26.33 | $ | 26.50 | $ | 26.23 | $ | 15.17 | $ | 16.31 | $ | 19.22 | $ | 21.34 | $ | 23.25 | |||||||||||||||||||||||
Income from Investment Operations | |||||||||||||||||||||||||||||||||||||||||||
Net investment income(a)* | 0.22 | 0.09 | 0.05 | 0.09 | 0.06 | 0.50 | 0.43 | 0.57 | 0.53 | 0.62 | |||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 0.30 | (0.06 | ) | 0.35 | (0.23 | ) | 0.23 | 0.84 | (0.93 | ) | (2.60 | ) | (1.93 | ) | (2.14 | ) | |||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 0.52 | 0.03 | 0.40 | (0.14 | ) | 0.29 | 1.34 | (0.50 | ) | (2.03 | ) | (1.40 | ) | (1.52 | ) | ||||||||||||||||||||||||||||
Distributions from: | |||||||||||||||||||||||||||||||||||||||||||
Net investment income | — | (0.00 | )(b) | (0.03 | ) | (0.03 | ) | (0.02 | ) | (0.28 | ) | (0.64 | ) | (0.88 | ) | (0.72 | ) | (0.39 | ) | ||||||||||||||||||||||||
Net asset value, end of year | $ | 27.25 | $ | 26.73 | $ | 26.70 | $ | 26.33 | $ | 26.50 | $ | 16.23 | $ | 15.17 | $ | 16.31 | $ | 19.22 | $ | 21.34 | |||||||||||||||||||||||
Market Price, end of year | $ | 27.27 | $ | 26.72 | $ | 26.81 | $ | 16.23 | $ | 15.10 | $ | 16.42 | |||||||||||||||||||||||||||||||
Total Return | |||||||||||||||||||||||||||||||||||||||||||
Total investment return based on net asset value(c) | 1.94 | % | 0.11 | % | 1.50 | % | (0.54 | )% | 1.09 | % | 8.98 | % | (2.59 | )% | (10.43 | )% | (6.32 | )% | (6.51 | )% | |||||||||||||||||||||||
Total investment return based on Market Price(f) | 2.06 | % | (0.32 | )% | 1.96 | % | 9.45 | % | (3.70 | )% | (9.84 | )% | |||||||||||||||||||||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 28,608 | $ | 26,727 | $ | 28,031 | $ | 26,329 | $ | 60,954 | $ | 8,117 | $ | 6,826 | $ | 5,708 | $ | 8,649 | $ | 13,870 | |||||||||||||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||||||||||||||||||||||||
Expenses(d) | 0.49 | % | 0.49 | % | 0.48 | % | 0.48 | % | 0.48 | % | 0.70 | % | 0.70 | % | 0.70 | % | 0.69 | % | 0.69 | % | |||||||||||||||||||||||
Net investment income (loss)* | 0.82 | % | 0.33 | % | 0.18 | % | 0.36 | % | 0.23 | % | 3.07 | % | 3.08 | % | 3.22 | % | 2.84 | % | 2.98 | % | |||||||||||||||||||||||
Portfolio turnover rate(e) | 71 | % | 109 | % | 91 | % | 45 | % | 72 | % | 27 | % | 40 | % | 36 | % | 31 | % | 29 | % |
* | Recognition of net investment income by the Fund is affected by the timing of the declaration of dividends by the investment companies in which the Fund invests. |
(a) | Based on average shares outstanding. |
(b) | Greater than $(0.005) per share. |
(c) | Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions, if any, at net asset value during the period, and redemption on the last day of the period. Total return calculated for a period less than one year is not annualized. |
(d) | Excludes expenses incurred by the underlying investments in other funds. |
(e) | Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as in-kind creations or redemptions in connection with the Fund’s capital share transactions. |
(f) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to 2017 the closing price listed on the NYSE Arca was used. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Canada Small Cap ETF | |||||||||||||||||||||||
For the Year Ended April 30, | |||||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||||||
Net asset value, beginning of year | $ | 16.64 | $ | 18.67 | $ | 23.80 | $ | 21.31 | $ | 26.17 | |||||||||||||
Income from Investment Operations | |||||||||||||||||||||||
Net investment income(a)* | 0.21 | 0.28 | 0.27 | 0.29 | 0.28 | ||||||||||||||||||
Net realized and unrealized gain (loss) on investments | (0.20 | ) | (1.96 | ) | (5.22 | ) | 2.51 | (4.27 | ) | ||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 0.01 | (1.68 | ) | (4.95 | ) | 2.80 | (3.99 | ) | |||||||||||||||
Distributions from: | |||||||||||||||||||||||
Net investment income | (0.29 | ) | (0.35 | ) | (0.18 | ) | (0.31 | ) | (0.87 | ) | |||||||||||||
Net asset value, end of year | $ | 16.36 | $ | 16.64 | $ | 18.67 | $ | 23.80 | $ | 21.31 | |||||||||||||
Market Price, end of year | $ | 16.34 | $ | 16.22 | $ | 18.63 | |||||||||||||||||
Total Return | |||||||||||||||||||||||
Total investment return based on net asset value(b) | 0.11 | % | (8.29 | )% | (20.81 | )% | 13.32 | % | (15.49 | )% | |||||||||||||
Total investment return based on Market Price(e) | 2.55 | % | (10.39 | )% | (20.71 | )% | |||||||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 10,635 | $ | 10,814 | $ | 10,270 | $ | 16,663 | $ | 15,981 | |||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||||
Expenses(c) | 0.70 | % | 0.70 | % | 0.69 | % | 0.69 | % | 0.70 | % | |||||||||||||
Net investment income (loss)* | 1.24 | % | 1.98 | % | 1.25 | % | 1.37 | % | 1.21 | % | |||||||||||||
Portfolio turnover rate(d) | 36 | % | 27 | % | 33 | % | 38 | % | 41 | % |
* | Recognition of net investment income by the Fund is affected by the timing of the declaration of dividends by the investment companies in which the Fund invests. |
(a) | Based on average shares outstanding. |
(b) | Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions, if any, at net asset value during the period, and redemption on the last day of the period. Total return calculated for a period less than one year is not annualized. |
(c) | Excludes expenses incurred by the underlying investments in other funds. |
(d) | Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as in-kind creations or redemptions in connection with the Fund’s capital share transactions. |
(e) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to 2017 the closing price listed on the NYSE Arca was used. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Global Agribusiness Small Cap ETF | IQ Global Oil Small Cap ETF | ||||||||||||||||||||||||||||||||||||||||||
For the Year Ended April 30, | For the Year Ended April 30, | ||||||||||||||||||||||||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||
Net asset value, beginning of year | $ | 30.12 | $ | 27.26 | $ | 26.92 | $ | 26.41 | $ | 24.82 | $ | 11.77 | $ | 17.47 | $ | 22.76 | $ | 19.36 | $ | 17.58 | |||||||||||||||||||||||
Income from Investment Operations | |||||||||||||||||||||||||||||||||||||||||||
Net investment income(a)* | 0.31 | 0.41 | 0.31 | 0.35 | 0.31 | 0.14 | (f) | 0.17 | 0.25 | 0.19 | 0.15 | ||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 2.94 | 2.82 | 0.44 | 0.58 | 1.64 | (0.77 | ) | (5.58 | ) | (5.25 | ) | 3.36 | 1.93 | ||||||||||||||||||||||||||||||
Net increase in net assets resulting from investment operations | 3.25 | 3.23 | 0.75 | 0.93 | 1.95 | (0.63 | ) | (5.41 | ) | (5.00 | ) | 3.55 | 2.08 | ||||||||||||||||||||||||||||||
Distributions from: | |||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.38 | ) | (0.37 | ) | (0.41 | ) | (0.42 | ) | (0.36 | ) | (0.36 | ) | (0.29 | ) | (0.29 | ) | (0.15 | ) | (0.30 | ) | |||||||||||||||||||||||
Net asset value, end of year | $ | 32.99 | $ | 30.12 | $ | 27.26 | $ | 26.92 | $ | 26.41 | $ | 10.78 | $ | 11.77 | $ | 17.47 | $ | 22.76 | $ | 19.36 | |||||||||||||||||||||||
Market Price, end of year | $ | 33.05 | $ | 29.52 | $ | 27.27 | $ | 10.77 | $ | 11.96 | $ | 17.42 | |||||||||||||||||||||||||||||||
Total Return | |||||||||||||||||||||||||||||||||||||||||||
Total investment return based on net asset value(b) | 10.86 | % | 11.93 | % | 2.92 | % | 3.50 | % | 7.91 | % | (5.76 | )% | (30.69 | )% | (21.80 | )% | 18.44 | % | 12.09 | % | |||||||||||||||||||||||
Total investment return based on Market Price(e) | 13.32 | % | 9.66 | % | 3.15 | % | (7.34 | )% | (29.39 | )% | (21.58 | )% | |||||||||||||||||||||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 13,195 | $ | 12,047 | $ | 13,630 | $ | 25,572 | $ | 36,977 | $ | 2,695 | $ | 2,943 | $ | 5,240 | $ | 2,276 | $ | 1,936 | |||||||||||||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||||||||||||||||||||||||
Expenses(c) | 0.76 | % | 0.76 | % | 0.76 | % | 0.75 | % | 0.75 | % | 0.79 | % | 0.84 | % | 0.76 | % | 0.76 | % | 0.76 | % | |||||||||||||||||||||||
Net investment income (loss)* | 0.99 | % | 1.48 | % | 1.16 | % | 1.29 | % | 1.24 | % | 1.25 | %(f) | 1.34 | % | 1.41 | % | 0.93 | % | 0.86 | % | |||||||||||||||||||||||
Portfolio turnover rate(d) | 35 | % | 31 | % | 33 | % | 25 | % | 17 | % | 40 | % | 52 | % | 58 | % | 42 | % | 30 | % |
* | Recognition of net investment income by the Fund is affected by the timing of the declaration of dividends by the investment companies in which the Fund invests. |
(a) | Based on average shares outstanding. |
(b) | Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions, if any, at net asset value during the period, and redemption on the last day of the period. Total return calculated for a period less than one year is not annualized. |
(c) | Excludes expenses incurred by the underlying investments in other funds. |
(d) | Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as in-kind creations or redemptions in connection with the Fund’s capital share transactions. |
(e) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to 2017 the closing price listed on the NYSE Arca was used. |
(f) | Net investment income per share and ratio of net investment income to average net assets include a special cash dividend received of $0.02 per share owned of Subsea 7 SA on February 17, 2017. Net investment income per share and the net investment income to average net assets excluding the special dividend are $0.12 and 1.10% respectively. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ U.S. Real Estate Small Cap ETF | IQ 50 Percent Hedged FTSE International ETF | ||||||||||||||||||||||||||||||
For the Year Ended April 30, | For the Year Ended April 30, 2017 | For the Period July 22, 2015(a) to April 30, 2016 | |||||||||||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||||||||||||||
Net asset value, beginning of year | $ | 25.14 | $ | 26.77 | $ | 25.44 | $ | 27.07 | $ | 20.42 | $ | 17.68 | $ | 19.94 | |||||||||||||||||
Income from Investment Operations | |||||||||||||||||||||||||||||||
Net investment income(b)* | 0.71 | 0.90 | 1.07 | 1.22 | 0.83 | 0.46 | 0.37 | ||||||||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 2.88 | (1.09 | ) | 1.57 | (0.96 | ) | 7.00 | 2.18 | (2.42 | ) | |||||||||||||||||||||
Distributions of net realized gains from investments in other investment companies | 0.00 | (c) | �� | — | — | — | — | — | — | ||||||||||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 3.59 | (0.19 | ) | 2.64 | 0.26 | 7.83 | 2.64 | (2.05 | ) | ||||||||||||||||||||||
Distributions from: | |||||||||||||||||||||||||||||||
Net investment income | (0.71 | ) | (0.88 | ) | (1.04 | ) | (1.24 | ) | (1.18 | ) | (0.44 | ) | (0.21 | ) | |||||||||||||||||
Net realized gain | — | — | — | — | — | (0.20 | ) | — | |||||||||||||||||||||||
Return of capital | (0.88 | ) | (0.56 | ) | (0.27 | ) | (0.65 | ) | — | — | — | ||||||||||||||||||||
Total distributions from net investment income and return of capital | (1.59 | ) | (1.44 | ) | (1.31 | ) | (1.89 | ) | (1.18 | ) | (0.64 | ) | (0.21 | ) | |||||||||||||||||
Net asset value, end of year | $ | 27.14 | $ | 25.14 | $ | 26.77 | $ | 25.44 | $ | 27.07 | $ | 19.68 | $ | 17.68 | |||||||||||||||||
Market Price, end of year | $ | 27.15 | $ | 25.10 | $ | 26.82 | $ | 19.75 | $ | 17.59 | |||||||||||||||||||||
Total Return | |||||||||||||||||||||||||||||||
Total investment return based on net asset value(d) | 14.60 | % | (0.51 | )% | 10.44 | % | 1.65 | % | 39.85 | % | 15.29 | % | (10.33 | )% | |||||||||||||||||
Total investment return based on Market Price(i) | 14.79 | % | (0.83 | )% | 10.51 | % | 16.28 | % | (10.77 | )%(g) | |||||||||||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 114,001 | $ | 76,663 | $ | 95,048 | $ | 52,146 | $ | 58,192 | $ | 208,595 | $ | 76,010 | |||||||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||||||||||||
Expenses(e) | 0.70 | % | 0.70 | % | 0.69 | % | 0.69 | % | 0.69 | % | 0.36 | % | 0.36 | %(h) | |||||||||||||||||
Net investment income (loss) | 2.64 | % | 3.62 | % | 3.97 | % | 4.91 | % | 3.70 | % | 2.55 | % | 2.71 | %(h) | |||||||||||||||||
Portfolio turnover rate(f) | 28 | % | 28 | % | 17 | % | 35 | % | 16 | % | 8 | % | 7 | % |
* | Recognition of net investment income by the Fund is affected by the timing of the declaration of dividends by the investment companies in which the Fund invests. |
(a) | Commencement of operations |
(b) | Based on average shares outstanding. |
(c) | Less than $0.005 per share. |
(d) | Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions, if any, at net asset value during the period, and redemption on the last day of the period. Total return calculated for a period less than one year is not annualized. |
(e) | Excludes expenses incurred by the underlying investments in other funds. |
(f) | Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as in-kind creations or redemptions in connection with the Fund’s capital share transactions. |
(g) | Since the Shares of the Funds did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate the market returns. |
(h) | Annualized. |
(i) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to 2017 the closing price listed on the NYSE Arca was used. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ 50 Percent Hedged FTSE Europe ETF | IQ 50 Percent Hedged FTSE Japan ETF | IQ Leaders GTAA Tracker ETF | |||||||||||||||||||||||||
For the Year Ended April 30, 2017 | For the Period July 22, 2015(a) to April 30, 2016 | For the Year Ended April 30, 2017 | For the Period July 22, 2015(a) to April 30, 2016 | For the Year Ended April 30, 2017 | For the Period September 30, 2015(a) to April 30, 2016 | ||||||||||||||||||||||
Net asset value, beginning of period | $ | 17.63 | $ | 19.90 | $ | 17.33 | $ | 20.16 | $ | 20.96 | $ | 20.00 | |||||||||||||||
Income from Investment Operations | |||||||||||||||||||||||||||
Net investment income(b)* | 0.62 | 0.36 | 0.27 | 0.27 | 0.48 | 0.26 | |||||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 1.96 | (2.41 | ) | 1.95 | (3.10 | ) | 1.80 | 0.78 | |||||||||||||||||||
Distributions of net realized gains from investments in other investment companies | — | — | — | — | 0.00 | (h) | 0.06 | ||||||||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 2.58 | (2.05 | ) | 2.22 | (2.83 | ) | 2.28 | 1.10 | |||||||||||||||||||
Distributions from: | |||||||||||||||||||||||||||
Net investment income | (0.63 | ) | (0.22 | ) | (0.42 | ) | — | (0.41 | ) | (0.14 | ) | ||||||||||||||||
Net realized gain | (0.76 | ) | — | — | — | — | — | ||||||||||||||||||||
Total distributions from net investment income and realized gains | (1.39 | ) | (0.22 | ) | (0.42 | ) | — | (0.41 | ) | (0.14 | ) | ||||||||||||||||
Net asset value, end of period | $ | 18.82 | $ | 17.63 | $ | 19.13 | $ | 17.33 | $ | 22.83 | $ | 20.96 | |||||||||||||||
Market Price, end of period | $ | 18.90 | $ | 17.82 | $ | 19.16 | $ | 17.83 | $ | 22.84 | $ | 20.21 | |||||||||||||||
Total Return | |||||||||||||||||||||||||||
Total investment return based on net asset value(c) | 15.48 | % | (10.33 | )% | 13.18 | % | (14.05 | )% | 10.99 | % | 5.50 | % | |||||||||||||||
Total investment return based on Market Price(i) | 14.78 | % | (9.38 | )%(d) | 10.17 | % | (11.56 | )%(d) | 15.18 | % | 1.72 | (d) | |||||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||||||||
Net assets, end of period (000’s omitted) | $ | 81,845 | $ | 46,724 | $ | 27,740 | $ | 25,125 | $ | 34,240 | $ | 2,096 | |||||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||||||||
Expenses(e) | 0.46 | % | 0.46 | %(f) | 0.46 | % | 0.46 | %(f) | 0.46 | % | 0.46 | %(f) | |||||||||||||||
Net investment income (loss)* | 3.52 | % | 2.65 | %(f) | 1.53 | % | 1.85 | %(f) | 2.23 | % | 2.18 | %(f) | |||||||||||||||
Portfolio turnover rate(g) | 14 | % | 10 | % | 15 | % | 11 | % | 105 | % | 116 | % |
* | Recognition of net investment income by the Fund is affected by the timing of the declaration of dividends by the investment companies in which the Fund invests. |
(a) | Commencement of operations |
(b) | Based on average shares outstanding. |
(c) | Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions, if any, at net asset value during the period, and redemption on the last day of the period. Total return calculated for a period less than one year is not annualized. |
(d) | Since the Shares of the Funds did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate the market returns. |
(e) | Excludes expenses incurred by the underlying investments in other funds. |
(f) | Annualized. |
(g) | Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as in-kind creations or redemptions in connection with the Fund’s capital share transactions. |
(h) | Less than $0.005 per share. |
(i) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to 2017 the closing price listed on the NYSE Arca was used. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Enhanced Core Bond U.S. ETF | IQ Enhanced Core Plus Bond U.S. ETF | IQ S&P High Yield Low Volatility Bond ETF | ||||||||||||
For the Period May 10, 2016(a) to April 30, 2017 | For the Period May 10, 2016(a) to April 30, 2017 | For the Period February 15, 2017(a) to April 30, 2017 | ||||||||||||
Net asset value, beginning of period | $ | 20.00 | $ | 20.00 | $ | 25.00 | ||||||||
Income from Investment Operations | ||||||||||||||
Net investment income(b)* | 0.41 | 0.53 | 0.20 | |||||||||||
Net realized and unrealized loss on investments | (0.49 | ) | (0.03 | ) | 0.10 | |||||||||
Distributions of net realized gains from investments in other investment companies | 0.01 | 0.01 | — | |||||||||||
Net decrease in net assets resulting from investment operations | (0.07 | ) | 0.51 | 0.30 | ||||||||||
Distributions from: | ||||||||||||||
Net investment income | (0.40 | ) | (0.53 | ) | (0.10 | ) | ||||||||
Net asset value, end of period | $ | 19.53 | $ | 19.98 | $ | 25.20 | ||||||||
Market Price, end of period | $ | 19.54 | $ | 19.99 | $ | 25.34 | ||||||||
Total Return | ||||||||||||||
Total investment return based on net asset value(c) | (0.31 | )% | 2.57 | % | 1.40 | % | ||||||||
Total investment return based on Market Price(h) | (0.29 | )%(d) | 2.61 | %(d) | 1.93 | %(d) | ||||||||
Ratios/Supplemental Data | ||||||||||||||
Net assets, end of period (000’s omitted) | $ | 74,232 | $ | 230,787 | $ | 49,145 | ||||||||
Ratio to average net assets of: | ||||||||||||||
Expenses net of waivers(e) | 0.20 | %(f) | 0.20 | %(f) | 0.40 | %(f) | ||||||||
Expenses excluding waivers(e) | 0.25 | %(f) | 0.25 | %(f) | 0.41 | %(f) | ||||||||
Net investment income (loss)* | 2.14 | %(f) | 2.73 | %(f) | 4.05 | %(f) | ||||||||
Portfolio turnover rate(g) | 265 | % | 147 | % | 15 | % |
* | Recognition of net investment income by the Fund is affected by the timing of the declaration of dividends by the investment companies in which the Fund invests. |
(a) | Commencement of operations. |
(b) | Based on average shares outstanding. |
(c) | Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions, if any, at net asset value during the period, and redemption on the last day of the period. Total return calculated for a period less than one year is not annualized. |
(d) | Since the shares of the Funds did not trade in the secondary market until the day after the Fund’s inception, for the period from inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate market returns. |
(e) | Excludes expenses incurred by the underlying investments in other funds. |
(f) | Annualized. |
(g) | Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as in-kind creations or redemptions in connection with the Fund’s capital share transactions. |
(h) | The market price returns are calculated using the mean between the last bid and ask prices. |
See notes to financial statements.
Funds | Diversification Policy | Commencement of Operations Date | ||||
IQ Hedge Multi-Strategy Tracker ETF | Diversified | March 24, 2009 | ||||
IQ Hedge Macro Tracker ETF | Diversified | June 8, 2009 | ||||
IQ Hedge Market Neutral Tracker ETF | Diversified | October 4, 2012 | ||||
IQ Hedge Long/Short Tracker ETF and IQ Hedge Event-Driven Tracker ETF | Diversified | March 24, 2015 | ||||
IQ Real Return ETF | Diversified | October 26, 2009 | ||||
IQ S&P High Yield Low Volatility Bond ETF | Diversified | February 15, 2017 | ||||
IQ Global Resources ETF | Non-diversified | October 26, 2009 | ||||
IQ Merger Arbitrage ETF | Non-diversified | November 16, 2009 | ||||
IQ Australia Small Cap ETF and IQ Canada Small Cap ETF | Non-diversified | March 22, 2010 | ||||
IQ Global Agribusiness Small Cap ETF | Non-diversified | March 21, 2011 | ||||
IQ Global Oil Small Cap ETF | Non-diversified | May 4, 2011 | ||||
IQ U.S. Real Estate Small Cap ETF | Non-diversified | June 13, 2011 | ||||
IQ 50 Percent Hedged FTSE International ETF, IQ 50 Percent Hedged FTSE Europe ETF, and IQ 50 Percent Hedged FTSE Japan ETF | Non-diversified | July 22, 2015 | ||||
IQ Leaders GTAA Tracker ETF | Non-diversified | September 30, 2015 | ||||
IQ Enhanced Core Bond U.S. ETF and IQ Enhanced Core Plus Bond U.S. ETF | Non-diversified | May 10, 2016 |
Fund | Underlying Index | |||
IQ Hedge Multi-Strategy Tracker ETF | IQ Hedge Multi-Strategy Index | |||
IQ Hedge Macro Tracker ETF | IQ Hedge Macro Index | |||
IQ Hedge Market Neutral Tracker ETF | �� | IQ Hedge Market Neutral Index | ||
IQ Hedge Long/Short Tracker ETF | IQ Hedge Long/Short Index | |||
IQ Hedge Event-Driven Tracker ETF | IQ Hedge Event-Driven Index | |||
IQ Global Resources ETF | IQ Global Resources Index | |||
IQ Merger Arbitrage ETF | IQ Merger Arbitrage Index | |||
IQ Real Return ETF | IQ Real Return Index | |||
IQ Australia Small Cap ETF | IQ Australia Small Cap Index | |||
IQ Canada Small Cap ETF | IQ Canada Small Cap Index | |||
IQ Global Agribusiness Small Cap ETF | IQ Global Agribusiness Small Cap Index | |||
IQ Global Oil Small Cap ETF | IQ Global Oil Small Cap Index | |||
IQ U.S. Real Estate Small Cap ETF | IQ U.S. Real Estate Small Cap Index | |||
IQ 50 Percent Hedged FTSE International ETF | FTSE Developed ex North America 50% Hedged to USD Index | |||
IQ 50 Percent Hedged FTSE Europe ETF | FTSE Developed Europe 50% Hedged to USD Index | |||
IQ 50 Percent Hedged FTSE Japan ETF | FTSE Japan 50% Hedged to USD Index | |||
IQ Leaders GTAA Tracker ETF | IQ Leaders GTAA Index | |||
IQ Enhanced Core Bond U.S. ETF | IQ Enhanced Core Bond U.S. Index | |||
IQ Enhanced Core Plus Bond U.S. ETF | IQ Enhanced Core Plus Bond U.S. Index | |||
IQ S&P High Yield Low Volatility Bond ETF | S&P U.S. High Yield Low Volatility Corporate Bond Index |
Notes to Financial Statements (continued)
April 30, 2017
Notes to Financial Statements (continued)
April 30, 2017
• | Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities that the Funds have the ability to access. |
• | Level 2 — Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. |
Notes to Financial Statements (continued)
April 30, 2017
• | Level 3 — Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Funds’ own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. |
Notes to Financial Statements (continued)
April 30, 2017
statements. Each Fund’s federal, state and local income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state and local departments of revenue.
Notes to Financial Statements (continued)
April 30, 2017
paid by the borrowers of securities, net of fee rebates paid to the borrower plus reasonable administrative and custody fees. The dividend and interest income earned on the securities loaned is accounted for in the same manner as other dividend and interest income. The borrower pays to the Funds an amount equal to any dividends or interest received on loaned securities. Lending portfolio securities could result in a loss or delay in recovering the Funds’ securities if the borrower defaults.
Money Market Mutual Fund | U.S. Government Securities | |||||||||||||||||||
Fund | Overnight and Continuous | <30 Days | Between 30 & 90 days | >90 Days | Total | |||||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | $ | 200,211,821 | $ | — | $ | — | $ | — | $ | — | ||||||||||
IQ Hedge Macro Tracker ETF | 1,287,677 | — | — | 1,534 | 1,534 | |||||||||||||||
IQ Hedge Market Neutral Tracker ETF | 2,259,107 | — | — | — | — | |||||||||||||||
IQ Hedge Long/Short Tracker ETF | 315,173 | — | — | — | — | |||||||||||||||
IQ Hedge Event-Driven Tracker ETF | 76,542 | — | — | — | — | |||||||||||||||
IQ Global Resources ETF | 2,091,984 | 1,636 | 59,795 | 6,087,377 | 6,148,808 | |||||||||||||||
IQ Merger Arbitrage ETF | 2,400,238 | 2,073 | 221,856 | 5,082,690 | 5,306,619 | |||||||||||||||
IQ Real Return ETF | 3,489,074 | 3,106 | 171,267 | 1,909,442 | 2,083,815 | |||||||||||||||
IQ Australia Small Cap ETF | 1,126,757 | 3,183 | 2,806 | 99,656 | 105,645 | |||||||||||||||
IQ Canada Small Cap ETF | 832,449 | — | — | — | — | |||||||||||||||
IQ Global Agribusiness Small Cap ETF | 500,300 | 3,689 | 4,201 | 744,746 | 752,636 | |||||||||||||||
IQ Global Oil Small Cap ETF | 644,567 | — | — | — | — | |||||||||||||||
IQ U.S. Real Estate Small Cap ETF | 9,870,960 | 19,595 | 1,023,209 | 24,556,428 | 25,599,232 | |||||||||||||||
IQ 50 Percent Hedged FTSE International ETF | 5,248,703 | — | — | 147,653 | 147,653 | |||||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 2,849,661 | — | — | 29,972 | 29,972 | |||||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 161,066 | — | — | 151,642 | 151,642 | |||||||||||||||
IQ Leaders GTAA Tracker ETF | 7,929,366 | 948 | 52,279 | 391,684 | 444,911 | |||||||||||||||
IQ Enhanced Core Bond U.S. ETF | 43,750 | 26,482 | 1,460,101 | 10,939,434 | 12,426,017 | |||||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 35,309,561 | 48 | 2,676 | 20,050 | 22,774 |
Notes to Financial Statements (continued)
April 30, 2017
IQ Hedge Multi-Strategy Tracker ETF IQ Hedge Macro Tracker ETF IQ Hedge Market Neutral Tracker ETF IQ Hedge Long/Short Tracker ETF IQ Hedge Event-Driven Tracker ETF IQ Global Resources ETF IQ Merger Arbitrage ETF IQ Leaders GTAA Tracker ETF |
Notes to Financial Statements (continued)
April 30, 2017
Assets | Liabilities | |||||||||||||||||||||||||
Fund | Gross Amounts Presented in Statements of Assets and Liabilities | Collateral Received1 | Net Amount | Gross Amounts Presented in Statements of Assets and Liabilities | Collateral Pledged | Net Amount | ||||||||||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | $ | 195,023,531 | $ | (195,023,531 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||
IQ Hedge Macro Tracker ETF | 1,261,359 | (1,261,359 | ) | — | — | — | — | |||||||||||||||||||
IQ Hedge Market Neutral Tracker ETF | 2,209,699 | (2,209,699 | ) | — | — | — | — | |||||||||||||||||||
IQ Hedge Long/Short Tracker ETF | 306,108 | (306,108 | ) | — | — | — | — | |||||||||||||||||||
IQ Hedge Event-Driven Tracker ETF | 74,284 | (74,284 | ) | — | — | — | — | |||||||||||||||||||
IQ Global Resources ETF | 7,946,393 | (7,946,393 | ) | — | — | — | — | |||||||||||||||||||
IQ Merger Arbitrage ETF | 7,519,320 | (7,519,320 | ) | — | — | — | — | |||||||||||||||||||
IQ Real Return ETF | 5,430,091 | (5,430,091 | ) | — | — | — | — | |||||||||||||||||||
IQ Australia Small Cap ETF | 1,169,028 | (1,169,028 | ) | — | — | — | — | |||||||||||||||||||
IQ Canada Small Cap ETF | 797,083 | (797,083 | ) | — | — | — | — | |||||||||||||||||||
IQ Global Agribusiness Small Cap ETF | 1,211,586 | (1,211,586 | ) | — | — | — | — | |||||||||||||||||||
IQ Global Oil Small Cap ETF | 619,533 | (619,533 | ) | — | — | — | — | |||||||||||||||||||
IQ U.S. Real Estate Small Cap ETF | 33,816,125 | (33,816,125 | ) | — | — | — | — | |||||||||||||||||||
IQ 50 Percent Hedged FTSE International ETF | 5,136,502 | (5,136,502 | ) | — | — | — | — | |||||||||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 2,744,208 | (2,744,208 | ) | — | — | — | — | |||||||||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 294,596 | (294,596 | ) | — | — | — | — | |||||||||||||||||||
IQ Leaders GTAA Tracker ETF | 8,187,870 | (8,187,870 | ) | — | — | — | — | |||||||||||||||||||
IQ Enhanced Core Bond U.S. ETF | 12,066,518 | (12,066,518 | ) | — | — | — | — | |||||||||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 34,578,216 | (34,578,216 | ) | — | — | — | — | |||||||||||||||||||
IQ S&P High Yield Low Volatility Bond ETF | — | — | — | — | — | — |
1 | The amount of collateral presented is limited such that the net amount cannot be less than zero. |
Fund | Gross Amounts of Assets Presented in Statements of Assets and Liabilities | Financial Instruments and Derivatives Available for Offset | Net Amount of Derivatives Assets | Gross Amounts of Liabilities Presented in Statements of Assets and Liabilities | Financial Instruments and Derivatives Available for Offset | Net Amount of Derivatives Liabilities | ||||||||||||||||||
IQ 50 Percent Hedged FTSE International ETF | ||||||||||||||||||||||||
Morgan Stanley | $ | 295,628 | $ | (295,628 | ) | $ | — | $ | 1,287,232 | $ | (295,628 | ) | $ | 991,604 | ||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | ||||||||||||||||||||||||
Morgan Stanley | 8,448 | (8,448 | ) | — | 827,101 | (8,448 | ) | 818,653 | ||||||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | ||||||||||||||||||||||||
Merrill Lynch | 25,411 | (9,231 | ) | 16,180 | 9,231 | (9,231 | ) | — |
Notes to Financial Statements (continued)
April 30, 2017
gains by underlying funds are recorded as realized capital gains on the ex-date. Expenses of the Trust arising in connection with a specific Fund are allocated to that Fund. Other Trust expenses which cannot be directly attributed to a Fund are apportioned among the Funds in the Trust based upon the relative net assets or other appropriate measures. The Funds distribute substantially all their net investment income to shareholders in the form of dividends. Net investment income and net capital gains are typically distributed to shareholders at least annually; the IQ U.S. Real Estate Small Cap ETF distributes income quarterly. IQ Enhanced Core Bond U.S. ETF, IQ Enhanced Core Plus Bond U.S. ETF and IQ S&P High Yield Low Volatility Bond ETF distribute income monthly. Dividends may be declared and paid more frequently to comply with the distribution requirements of the Internal Revenue Code. The expenses of the investment companies in which a Fund invests are not included in the amounts shown as expenses on the Statements of Operations or in the expense ratios included in the financial highlights.
Fund | Rate | |||
IQ Hedge Multi-Strategy Tracker ETF | 0.75% | |||
IQ Hedge Macro Tracker ETF | 0.75% | |||
IQ Hedge Market Neutral Tracker ETF | 0.75% | |||
IQ Hedge Long/Short Tracker ETF | 0.75% | |||
IQ Hedge Event-Driven Tracker ETF | 0.75% | |||
IQ Global Resources ETF | 0.75% | |||
IQ Merger Arbitrage ETF | 0.75% | |||
IQ Real Return ETF | 0.48% | |||
IQ Australia Small Cap ETF | 0.69% | |||
IQ Canada Small Cap ETF | 0.69% | |||
IQ Global Agribusiness Small Cap ETF | 0.75% | |||
IQ Global Oil Small Cap ETF | 0.75% | |||
IQ U.S. Real Estate Small Cap ETF | 0.69% | |||
IQ 50 Percent Hedged FTSE International ETF | 0.35% | |||
IQ 50 Percent Hedged FTSE Europe ETF | 0.45% | |||
IQ 50 Percent Hedged FTSE Japan ETF | 0.45% | |||
IQ Leaders GTAA Tracker ETF | 0.45% | |||
IQ Enhanced Core Bond U.S. ETF | 0.25% | |||
IQ Enhanced Core Plus Bond U.S. ETF | 0.25% | |||
IQ S&P High Yield Low Volatility Bond ETF | 0.40% |
Notes to Financial Statements (continued)
April 30, 2017
Notes to Financial Statements (continued)
April 30, 2017
the assistance of a broker and will be subject to customary brokerage commissions or fees. Securities received or delivered in connection with in-kind creates and redeems are valued as of the close of business on the effective date of the creation or redemption.
Fund | Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation/ (Depreciation) | ||||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | $ | 1,256,627,539 | $ | 11,151,038 | $ | (1,766,893 | ) | $ | 9,384,145 | |||||||||
IQ Hedge Macro Tracker ETF | 7,710,626 | 56,672 | (96,229 | ) | (39,557 | ) | ||||||||||||
IQ Hedge Market Neutral Tracker ETF | 13,496,084 | 162,814 | (21,326 | ) | 141,488 | |||||||||||||
IQ Hedge Long/Short Tracker ETF | 4,353,391 | 44,061 | (14,717 | ) | 29,344 | |||||||||||||
IQ Hedge Event-Driven Tracker ETF | 3,134,588 | 33,853 | (1,223 | ) | 32,630 | |||||||||||||
IQ Global Resources ETF | 189,699,867 | 3,836,343 | (6,490,344 | ) | (2,654,001 | ) | ||||||||||||
IQ Merger Arbitrage ETF | 190,981,700 | 5,790,646 | (1,417,111 | ) | 4,373,535 | |||||||||||||
IQ Real Return ETF | 31,718,849 | 479,975 | (97,732 | ) | 382,243 | |||||||||||||
IQ Australia Small Cap ETF | 9,580,147 | 800,181 | (1,136,767 | ) | (336,586 | ) | ||||||||||||
IQ Canada Small Cap ETF | 12,995,529 | 893,688 | (2,429,726 | ) | (1,536,038 | ) | ||||||||||||
IQ Global Agribusiness Small Cap ETF | 11,704,567 | 3,145,807 | (1,208,954 | ) | 1,936,853 | |||||||||||||
IQ Global Oil Small Cap ETF | 3,674,856 | 217,578 | (561,096 | ) | (343,518 | ) | ||||||||||||
IQ U.S. Real Estate Small Cap ETF | 120,739,462 | 10,519,180 | (7,438,606 | ) | 3,080,574 | |||||||||||||
IQ 50 Percent Hedged FTSE International ETF | 196,442,750 | 22,934,512 | (5,934,756 | ) | 16,999,756 | |||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 82,642,086 | 4,696,871 | (2,680,882 | ) | 2,015,989 | |||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 26,528,370 | 2,730,427 | (1,423,317 | ) | 1,307,110 | |||||||||||||
IQ Leaders GTAA Tracker ETF | 40,342,894 | 1,922,895 | (103,854 | ) | 1,819,041 | |||||||||||||
IQ Enhanced Core Bond U.S. ETF | 74,835,487 | 121,961 | (669,320 | ) | (547,359 | ) | ||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 265,889,712 | 1,551,870 | (1,312,629 | ) | 239,241 | |||||||||||||
IQ S&P High Yield Low Volatility Bond ETF | 48,325,258 | 338,422 | (58,750 | ) | 279,672 |
Notes to Financial Statements (continued)
April 30, 2017
Fund | Ordinary Income (Loss)1 | Net Capital Gain (Losses)2 | Net Unrealized Appreciation/ Depreciation | Total Earnings/ (Losses) | ||||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | $ | (2,350,132 | ) | $ | (70,686,550 | ) | $ | 9,384,145 | $ | (63,652,537 | ) | |||||||
IQ Hedge Macro Tracker ETF | — | (6,092,680 | ) | (39,557 | ) | (6,132,237 | ) | |||||||||||
IQ Hedge Market Neutral Tracker ETF | (146,146 | ) | (504,802 | ) | 141,488 | (509,460 | ) | |||||||||||
IQ Hedge Long/Short Tracker ETF | (11,184 | ) | (108,143 | ) | 29,344 | �� | (89,983 | ) | ||||||||||
IQ Hedge Event-Driven Tracker ETF | 32,303 | (74,311 | ) | 32,630 | (9,378 | ) | ||||||||||||
IQ Global Resources ETF | (3,146,506 | ) | (44,357,206 | ) | (2,655,151 | ) | (50,158,863 | ) | ||||||||||
IQ Merger Arbitrage ETF | (1,879,168 | ) | (343,886 | ) | 4,359,243 | 2,136,189 | ||||||||||||
IQ Real Return ETF | 131,471 | (2,091,816 | ) | 382,243 | (1,578,102 | ) | ||||||||||||
IQ Australia Small Cap ETF | 248,888 | (8,857,486 | ) | (336,636 | ) | (8,945,234 | ) | |||||||||||
IQ Canada Small Cap ETF | 184,547 | (20,409,599 | ) | (1,536,105 | ) | (21,761,157 | ) | |||||||||||
IQ Global Agribusiness Small Cap ETF | 60,012 | (8,511,629 | ) | 1,936,337 | (6,515,280 | ) | ||||||||||||
IQ Global Oil Small Cap ETF | 36,007 | (1,920,479 | ) | (343,567 | ) | (2,228,039 | ) | |||||||||||
IQ U.S. Real Estate Small Cap ETF | — | (4,189,080 | ) | 3,080,574 | (1,108,506 | ) | ||||||||||||
IQ 50 Percent Hedged FTSE International ETF | 1,333,018 | 2,287 | 16,978,151 | 18,313,456 | ||||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 474,656 | (450,384 | ) | 2,003,660 | 2,027,932 | |||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 165,764 | (1,563,476 | ) | 1,306,529 | (91,183 | ) | ||||||||||||
IQ Leaders GTAA Tracker ETF | 96,008 | (559,572 | ) | 1,819,041 | 1,355,477 | |||||||||||||
IQ Enhanced Core Bond U.S. ETF | — | (2,558,755 | ) | (547,359 | ) | (3,106,114 | ) | |||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | — | (4,308,420 | ) | 239,241 | (4,069,179 | ) | ||||||||||||
IQ S&P High Yield Low Volatility Bond ETF | 141,320 | (18,340 | ) | 279,672 | 402,652 |
1 | Includes late year ordinary loss, if any. |
2 | Amount includes the deferral of post October losses, if any. |
Notes to Financial Statements (continued)
April 30, 2017
Fund | Undistributed Net Investment Income/(Accumulated Net Investment Loss) | Accumulated Net Realized Gain/(Loss) on Investments | Paid-in Capital | |||||||||||
IQ Hedge Multi-Strategy Tracker ETF | $ | (19,577,023 | ) | $ | 22,550,443 | $ | (2,973,420 | ) | ||||||
IQ Hedge Macro Tracker ETF | 87,971 | 117,360 | (205,331 | ) | ||||||||||
IQ Hedge Market Neutral Tracker ETF | (346,398 | ) | 340,167 | 6,231 | ||||||||||
IQ Hedge Long/Short Tracker ETF | (32,827 | ) | (113,406 | ) | 146,233 | |||||||||
IQ Hedge Event-Driven Tracker ETF | 17,786 | (69,176 | ) | 51,390 | ||||||||||
IQ Global Resources ETF | (4,996,438 | ) | (3,445,078 | ) | 8,441,516 | |||||||||
IQ Merger Arbitrage ETF | (2,688,158 | ) | 508,246 | 2,179,912 | ||||||||||
IQ Real Return ETF | (4,241 | ) | (26,445 | ) | 30,686 | |||||||||
IQ Australia Small Cap ETF | 27,430 | (179,278 | ) | 151,848 | ||||||||||
IQ Canada Small Cap ETF | 42,361 | (310,826 | ) | 268,465 | ||||||||||
IQ Global Agribusiness Small Cap ETF | 5,373 | (390,510 | ) | 385,137 | ||||||||||
IQ Global Oil Small Cap ETF | 89,593 | (330,971 | ) | 241,378 | ||||||||||
IQ U.S. Real Estate Small Cap ETF | 2,867,436 | (2,994,317 | ) | 126,881 | ||||||||||
IQ 50 Percent Hedged FTSE International ETF | (148,970 | ) | (598,201 | ) | 747,171 | |||||||||
IQ 50 Percent Hedged FTSE Europe ETF | (58,744 | ) | 2,519,171 | (2,460,427 | ) | |||||||||
IQ 50 Percent Hedged FTSE Japan ETF | (26,161 | ) | 26,161 | — | ||||||||||
IQ Leaders GTAA Tracker ETF | 37,441 | (1,470,999 | ) | 1,433,558 | ||||||||||
IQ Enhanced Core Bond U.S. ETF | 7,712 | (135,224 | ) | 127,512 | ||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 82,981 | (148,939 | ) | 65,958 | ||||||||||
IQ S&P High Yield Low Volatility Bond ETF | — | (4,436 | ) | 4,436 |
Notes to Financial Statements (continued)
April 30, 2017
2017 | 2016 | |||||||||||||||||||||||
Fund | Ordinary Income | Long-Term Capital Gains | Tax Return of Capital | Ordinary Income | Long-Term Capital Gains | Tax Return of Capital | ||||||||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | $ | 21,554 | $ | — | $ | — | $ | 5,414,930 | $ | — | $ | — | ||||||||||||
IQ Hedge Macro Tracker ETF | — | — | — | 186,676 | — | — | ||||||||||||||||||
IQ Hedge Market Neutral Tracker ETF | 173,905 | — | — | — | — | — | ||||||||||||||||||
IQ Hedge Long/Short Tracker ETF | 5,839 | — | — | 35,914 | — | — | ||||||||||||||||||
IQ Hedge Event-Driven Tracker ETF | 114,315 | — | — | 35,251 | — | — | ||||||||||||||||||
IQ Global Resources ETF | 676,550 | — | — | 1,098,143 | — | — | ||||||||||||||||||
IQ Merger Arbitrage ETF | 291,365 | — | — | 992,736 | — | — | ||||||||||||||||||
IQ Real Return ETF | — | — | — | 2,630 | — | — | ||||||||||||||||||
IQ Australia Small Cap ETF | 154,748 | — | — | 225,046 | — | — | ||||||||||||||||||
IQ Canada Small Cap ETF | 190,190 | — | — | 192,923 | — | — | ||||||||||||||||||
IQ Global Agribusiness Small Cap ETF | 171,392 | — | — | 166,361 | — | — | ||||||||||||||||||
IQ Global Oil Small Cap ETF | 126,350 | — | — | 72,240 | — | — | ||||||||||||||||||
IQ U.S. Real Estate Small Cap ETF | 2,277,082 | — | 2,848,754 | 3,031,724 | — | 1,905,746 | ||||||||||||||||||
IQ 50 Percent Hedged FTSE International ETF | 4,089,859 | 1,235,234 | — | 446,626 | — | — | ||||||||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 2,199,652 | 730,802 | — | 331,580 | — | — | ||||||||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 614,409 | — | — | — | — | — | ||||||||||||||||||
IQ Leaders GTAA Tracker ETF | 576,860 | — | — | 13,810 | — | — | ||||||||||||||||||
IQ Enhanced Core Bond U.S. ETF | 1,478,105 | — | — | NA1 | NA1 | NA1 | ||||||||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 5,319,018 | — | — | NA1 | NA1 | NA1 | ||||||||||||||||||
IQ S&P High Yield Low Volatility Bond ETF | 181,476 | — | — | NA1 | NA1 | NA1 |
1 | Since commencement of operations was after the fiscal year end for 2016, this Fund has been excluded from the table. |
Notes to Financial Statements (continued)
April 30, 2017
Fund | Late Year Ordinary Losses | Short-Term Post October Losses | Long-Term Post October Losses | |||||||||||
IQ Hedge Multi-Strategy Tracker ETF | $ | (2,350,132 | ) | $ | — | $ | — | |||||||
IQ Hedge Macro Tracker ETF | — | — | — | |||||||||||
IQ Hedge Market Neutral Tracker ETF | (146,146 | ) | — | — | ||||||||||
IQ Hedge Long/Short Tracker ETF | (11,184 | ) | — | — | ||||||||||
IQ Hedge Event-Driven Tracker ETF | — | — | — | |||||||||||
IQ Global Resources ETF | (3,146,506 | ) | — | — | ||||||||||
IQ Merger Arbitrage ETF | (1,879,168 | ) | — | — | ||||||||||
IQ Real Return ETF | — | — | — | |||||||||||
IQ Australia Small Cap ETF | — | — | — | |||||||||||
IQ Canada Small Cap ETF | — | — | — | |||||||||||
IQ Global Agribusiness Small Cap ETF | — | — | — | |||||||||||
IQ Global Oil Small Cap ETF | — | — | — | |||||||||||
IQ U.S. Real Estate Small Cap ETF | — | — | — | |||||||||||
IQ 50 Percent Hedged FTSE International ETF | — | — | — | |||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | — | (287,715 | ) | (162,669 | ) | |||||||||
IQ 50 Percent Hedged FTSE Japan ETF | — | — | — | |||||||||||
IQ Leaders GTAA Tracker ETF | — | — | — | |||||||||||
IQ Enhanced Core Bond U.S. ETF | — | — | — | |||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | — | — | — | |||||||||||
IQ S&P High Yield Low Volatility Bond ETF | — | — | — |
Notes to Financial Statements (continued)
April 30, 2017
Fund | Short-Term Expiring April 30, 2018 | Short-Term Expiring April 30, 2019 | Utilized on Current Year | Short-Term With No Expiration | Long-Term With No Expiration | |||||||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | $ | 841,667 | $ | 5,603,304 | $ | — | $ | 64,241,579 | $ | — | ||||||||||||
IQ Hedge Macro Tracker ETF | 80,017 | 531,209 | — | 4,308,158 | 1,173,296 | |||||||||||||||||
IQ Hedge Market Neutral Tracker ETF | — | — | 95,651 | 452,062 | 52,740 | |||||||||||||||||
IQ Hedge Long/Short Tracker ETF | — | — | — | 55,361 | 52,782 | |||||||||||||||||
IQ Hedge Event-Driven Tracker ETF | — | — | — | 59,720 | 14,591 | |||||||||||||||||
IQ Global Resources ETF | — | — | 518,593 | 25,949,560 | 18,407,646 | |||||||||||||||||
IQ Merger Arbitrage ETF | — | — | 4,809,818 | 343,886 | — | |||||||||||||||||
IQ Real Return ETF | — | — | — | 767,781 | 1,324,035 | |||||||||||||||||
IQ Australia Small Cap ETF | — | — | — | 2,784,562 | 6,072,924 | |||||||||||||||||
IQ Canada Small Cap ETF | — | 161,421 | — | 8,471,261 | 11,776,917 | |||||||||||||||||
IQ Global Agribusiness Small Cap ETF | — | — | — | 2,854,679 | 5,656,950 | |||||||||||||||||
IQ Global Oil Small Cap ETF | — | — | — | 646,931 | 1,273,548 | |||||||||||||||||
IQ U.S. Real Estate Small Cap ETF | — | — | — | 1,804,019 | 2,385,061 | |||||||||||||||||
IQ 50 Percent Hedged FTSE International ETF | — | — | 21,227 | — | — | |||||||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | — | — | 25,150 | — | — | |||||||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | — | — | — | 818,907 | 744,569 | |||||||||||||||||
IQ Leaders GTAA Tracker ETF | — | — | — | 559,572 | — | |||||||||||||||||
IQ Enhanced Core Bond U.S. ETF | — | — | — | 2,558,755 | — | |||||||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | — | — | — | 4,308,420 | — | |||||||||||||||||
IQ S&P High Yield Low Volatility Bond ETF | — | — | — | 18,340 | — |
Affiliated Fund Name | Shares Held | Value April 30, 2016 | Purchases at Cost | Proceeds from Sales | Realized Gain (Loss) | Value April 30, 2017 | Dividend Income | |||||||||||||||||||||
CurrencyShares Euro Trust | 175,373 | $ | — | $ | 59,994,035 | $ | (41,819,708 | ) | $ | (17,849 | ) | $ | 18,505,359 | $ | — | |||||||||||||
SPDR S&P Emerging Markets SmallCap ETF | 579,096 | 676,277 | 59,026,934 | (31,148,688 | ) | (1,898,120 | ) | 26,736,862 | 198,160 | |||||||||||||||||||
754,469 | $ | 676,277 | $ | 119,020,969 | $ | (72,968,396 | ) | $ | (1,915,969 | ) | $ | 45,242,221 | $ | 198,160 |
Notes to Financial Statements (continued)
April 30, 2017
Fund | % Ownership | |||||
IQ Global Resources ETF | 59.92 | % | ||||
IQ 50 Percent Hedged FTSE International ETF | 66.74 | % | ||||
IQ 50 Percent Hedged FTSE Europe ETF | 62.79 | % | ||||
IQ Enhanced Core Bond U.S. ETF | 49.53 | % | ||||
IQ Enhanced Core Plus Bond U.S. ETF | 66.94 | % |
Fund | % Ownership | |||||
IQ Hedge Long/Short Tracker ETF | 40.00 | % | ||||
IQ Hedge Event-Driven Tracker ETF | 53.33 | % | ||||
IQ 50 Percent Hedged FTSE International ETF | 12.61 | % | ||||
IQ 50 Percent Hedged FTSE Europe ETF | 31.57 | % | ||||
IQ 50 Percent Hedged FTSE Japan ETF | 91.54 | % | ||||
IQ Leaders GTAA Tracker ETF | 94.85 | % | ||||
IQ Enhanced Core Bond U.S. ETF | 12.37 | % | ||||
IQ Enhanced Core Plus Bond U.S. ETF | 5.85 | % | ||||
IQ S&P High Yield Low Volatility Bond ETF | 96.92 | % |
Fund | Purchases | Sales | Purchases In-Kind | Sales In-Kind | ||||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | $ | 3,201,602,213 | $ | 3,213,514,992 | $ | 151,513,616 | $ | 168,013,133 | ||||||||||
IQ Hedge Macro Tracker ETF | 7,136,625 | 7,239,130 | 1,224,910 | 9,957,901 | ||||||||||||||
IQ Hedge Market Neutral Tracker ETF | 13,271,567 | 13,725,739 | 1,291,142 | 5,085,159 | ||||||||||||||
IQ Hedge Long/Short Tracker ETF | 3,361,898 | 3,087,303 | 3,971,678 | 2,254,238 | ||||||||||||||
IQ Hedge Event-Driven Tracker ETF | 2,421,775 | 3,286,529 | 5,060,094 | 3,157,348 | ||||||||||||||
IQ Global Resources ETF | 255,671,556 | 259,704,959 | 161,293,663 | 65,167,911 | ||||||||||||||
IQ Merger Arbitrage ETF | 360,621,770 | 390,221,814 | 74,032,203 | 37,326,668 | ||||||||||||||
IQ Real Return ETF | 19,245,058 | 18,992,638 | 4,053,392 | 2,669,015 | ||||||||||||||
IQ Australia Small Cap ETF | 2,387,032 | 2,237,087 | 1,653,093 | 796,160 | ||||||||||||||
IQ Canada Small Cap ETF | 3,882,943 | 3,892,081 | 903,886 | 850,470 | ||||||||||||||
IQ Global Agribusiness Small Cap ETF | 4,596,590 | 4,572,455 | �� | 1,532,948 | 1,607,134 | |||||||||||||
IQ Global Oil Small Cap ETF | 1,348,538 | 1,395,808 | 1,059,972 | 1,199,868 | ||||||||||||||
IQ U.S. Real Estate Small Cap ETF | 25,186,639 | 24,633,462 | 52,824,176 | 20,312,566 | ||||||||||||||
IQ 50 Percent Hedged FTSE International ETF | 22,345,895 | 11,876,638 | 108,477,100 | 4,258,748 | ||||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 6,837,346 | 6,105,831 | 97,490,415 | 63,501,156 | ||||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 3,818,871 | 4,139,412 | — | — | ||||||||||||||
IQ Leaders GTAA Tracker ETF | 28,662,337 | 28,826,730 | 50,004,783 | 20,411,085 | ||||||||||||||
IQ Enhanced Core Bond U.S. ETF | 175,441,748 | 175,465,653 | 110,708,344 | 33,498,546 | ||||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 275,162,261 | 278,244,133 | 334,364,012 | 96,476,154 | ||||||||||||||
IQ S&P High Yield Low Volatility Bond ETF | 11,510,040 | 4,389,803 | 42,925,876 | 2,283,735 |
Notes to Financial Statements (continued)
April 30, 2017
Notes to Financial Statements (continued)
April 30, 2017
contracts are recorded as change in net unrealized appreciation/depreciation in the Statements of Operations. Realized gains or losses, representing the difference between the value of the contract at the time it was opened and the value at the time it was closed, are reported in the Statements of Operations at the closing or expiration of the futures contract. Securities deposited as initial margin are designated in the Schedules of Investments and cash deposited is recorded on the Statements of Assets and Liabilities. A receivable from and/or a payable to brokers for the daily variation margin is also recorded on the Statements of Assets and Liabilities.
Currency Risk | ||||||
IQ 50 Percent Hedged FTSE International ETF | ||||||
Unrealized appreciation on forward foreign currency contracts | $ | 295,628 | ||||
IQ 50 Percent Hedged FTSE Europe ETF | ||||||
Unrealized appreciation on forward foreign currency contracts | 8,448 | |||||
IQ 50 Percent Hedged FTSE Japan ETF | ||||||
Unrealized appreciation on forward foreign currency contracts | 25,411 |
Currency Risk | ||||||
IQ 50 Percent Hedged FTSE International ETF | ||||||
Unrealized depreciation on forward foreign currency contracts | $ | (1,287,232 | ) | |||
IQ 50 Percent Hedged FTSE Europe ETF | ||||||
Unrealized depreciation on forward foreign currency contracts | (827,101 | ) | ||||
IQ 50 Percent Hedged FTSE Japan ETF | ||||||
Unrealized depreciation on forward foreign currency contracts | (9,231 | ) |
Notes to Financial Statements (continued)
April 30, 2017
Fund | Currency Risk | Equity Risk | ||||||||
IQ Hedge Multi-Strategy Tracker ETF | ||||||||||
Realized gain (loss) | ||||||||||
Swap transactions | $ | (31,257,134 | ) | |||||||
IQ Hedge Macro Tracker ETF | ||||||||||
Realized gain (loss) | ||||||||||
Swap transactions | $ | (142,542 | ) | |||||||
IQ Hedge Market Neutral Tracker ETF | ||||||||||
Realized gain (loss) | ||||||||||
Swap transactions | $ | (481,949 | ) | |||||||
IQ Hedge Long/Short Tracker ETF | ||||||||||
Realized gain (loss) | ||||||||||
Swap transactions | $ | (43,590 | ) | |||||||
IQ Hedge Event-Driven Tracker ETF | ||||||||||
Realized gain (loss) | ||||||||||
Swap transactions | $ | 3,538 | ||||||||
IQ Global Resources ETF | ||||||||||
Realized gain (loss) | ||||||||||
Swap transactions | $ | (4,977,928 | ) | |||||||
IQ Merger Arbitrage ETF | ||||||||||
Realized gain (loss) | ||||||||||
Swap transactions | $ | (2,936,114 | ) | |||||||
IQ 50 Percent Hedged FTSE International ETF | ||||||||||
Realized gain (loss) | ||||||||||
Forward foreign currency contracts | $ | 4,366,975 | ||||||||
Change in unrealized appreciation (depreciation) | ||||||||||
Forward foreign currency contracts | $ | (500,620 | ) | |||||||
IQ 50 Percent Hedged FTSE Europe ETF | ||||||||||
Realized gain (loss) | ||||||||||
Forward foreign currency contracts | $ | 2,696,888 | ||||||||
Change in unrealized appreciation (depreciation) | ||||||||||
Forward foreign currency contracts | $ | (575,878 | ) | |||||||
IQ 50 Percent Hedged FTSE Japan ETF | ||||||||||
Realized gain (loss) | ||||||||||
Forward foreign currency contracts | $ | (56,869 | ) | |||||||
Change in unrealized appreciation (depreciation) | ||||||||||
Forward foreign currency contracts | $ | 636,799 | ||||||||
IQ Leaders GTAA Tracker ETF | ||||||||||
Realized gain (loss) | ||||||||||
Swap transactions | $ | 68,977 |
Notes to Financial Statements (continued)
April 30, 2017
Average Notional Value | ||||||||||||||||||||||||||||||||||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | IQ Hedge Macro Tracker ETF | IQ Hedge Market Neutral Tracker ETF | IQ Hedge Long/Short Tracker ETF | IQ Hedge Event-Driven Tracker ETF | IQ Global Resources ETF | IQ Merger Arbitrage ETF | IQ 50 Percent Hedged FTSE International ETF | IQ 50 Percent Hedged FTSE Europe ETF | IQ 50 Percent Hedged FTSE Japan ETF | IQ Leaders GTAA Tracker ETF | ||||||||||||||||||||||||||||||||||
Asset Derivatives | ||||||||||||||||||||||||||||||||||||||||||||
Swap contracts | $ | 331,483,116 | $ | 2,698,181 | $ | 3,823,123 | $ | 585,930 | $ | 353,279 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 4,002,205 | ||||||||||||||||||||||
Forward foreign currency contracts | — | — | — | — | — | — | — | 231,417,821 | 69,057,082 | 38,965,569 | — | |||||||||||||||||||||||||||||||||
Liability Derivatives | ||||||||||||||||||||||||||||||||||||||||||||
Swap contracts | $ | (325,658,799 | ) | $ | (2,716,662 | ) | $ | (3,829,041 | ) | $ | (585,354 | ) | $ | (354,335 | ) | $ | (29,017,884 | ) | $ | (31,816,494 | ) | $ | — | $ | — | $ | — | $ | (4,002,603 | ) | ||||||||||||||
Forward foreign currency contracts | — | — | — | — | — | — | — | (231,174,111 | ) | (68,922,158 | ) | (38,972,184 | ) | — |
Notes to Financial Statements (continued)
April 30, 2017
Notes to Financial Statements (continued)
April 30, 2017
1 | Applies to IQ Australia Small Cap ETF, IQ Canada Small Cap ETF, IQ Global Agribusiness Small Cap ETF, IQ Global Oil Small Cap ETF, IQ 50 Percent Hedged FTSE International ETF, IQ 50 Percent Hedged FTSE Europe ETF, IQ 50 Percent Hedged FTSE Japan ETF and IQ S&P High Yield Low Volatility Bond ETF. |
2 | Applies to IQ 50 Percent Hedged FTSE International ETF, IQ 50 Percent Hedged FTSE Europe ETF, and IQ 50 Percent Hedged FTSE Japan ETF. |
3 | Applies to IQ Hedge Multi-Strategy Tracker ETF, IQ Hedge Macro Tracker ETF, IQ Hedge Market Neutral Tracker ETF, IQ Hedge Long/Short Tracker ETF, IQ Hedge Event-Driven Tracker ETF, IQ Real Return ETF, IQ Leaders GTAA Tracker, IQ Enhanced Core Bond U.S. ETF and IQ Enhanced Core Plus Bond U.S. ETF. |
4 | Applies to IQ Multi-Strategy Tracker ETF, IQ Hedge Macro Tracker ETF, IQ Hedge Market Neutral Tracker ETF, IQ Hedge Long/Short Tracker ETF, IQ Hedge Event-Driven Tracker ETF, IQ Global Resources ETF, IQ Merger Arbitrage ETF and IQ Leaders GTAA Tracker ETF. |
5 | Applies to IQ Australia Small Cap ETF, IQ Canada Small Cap ETF, IQ Global Agribusiness Small Cap ETF, IQ Global Oil Small Cap ETF and IQ U.S. Real Estate Small Cap ETF. |
6 | Applies to IQ Enhanced Core Bond U.S. ETF, IQ Enhanced Core Plus Bond U.S. ETF, and IQ S&P High Yield Low Volatility Bond ETF. |
Notes to Financial Statements (continued)
April 30, 2017
Report of Independent Registered Public Accounting Firm
Individual fund comprising the IndexIQ ETF Trust | | Statement of operations | | Statements of changes in net assets | | Financial highlights | ||
IQ Hedge Multi-Strategy Tracker ETF IQ Hedge Macro Tracker ETF IQ Hedge Market Neutral Tracker ETF IQ Global Resources ETF IQ Merger Arbitrage ETF IQ Real Return ETF IQ Australia Small Cap ETF IQ Canada Small Cap ETF IQ Global Agribusiness Small Cap ETF IQ Global Oil Small Cap ETF IQ U.S. Real Estate Small Cap ETF | For the year ended April 30, 2017 | For the years ended April 30, 2017 and 2016 | For the years ended April 30, 2017, 2016 and 2015 | |||||
IQ Hedge Long/Short Tracker ETF IQ Hedge Event-Driven Tracker ETF | For the year ended April 30, 2017 | For the years ended April 30, 2017 and 2016 | For the years ended April 30, 2017 and 2016, and the period from March 24, 2015 (commencement of operations) through April 30, 2015 |
Report of Independent Registered Public Accounting Firm (continued)
Individual fund comprising the IndexIQ ETF Trust | | Statement of operations | | Statements of changes in net assets | | Financial highlights | ||
IQ 50 Percent Hedged FTSE International ETF IQ 50 Percent Hedged FTSE Europe ETF IQ 50 Percent Hedged FTSE Japan ETF | For the year ended April 30, 2017 | For the year ended April 30, 2017 and the period from July 22, 2015 (commencement of operations) through April 30, 2016 | ||||||
IQ Leaders GTAA Tracker ETF | For the year ended April 30, 2017 | For the year ended April 30, 2017 and the period from September 30, 2015 (commencement of operations) through April 30, 2016 | ||||||
IQ Enhanced Core Bond U.S. ETF IQ Enhanced Core Plus Bond U.S. ETF | For the period from May 10, 2016 (commencement of operations) through April 30, 2017. | |||||||
IQ S&P High Yield Low Volatility Bond ETF | For the period from February 15, 2017 (commencement of operations) through April 30, 2017. |
June 27, 2017
Supplemental Information (unaudited)
IQ Hedge Multi-Strategy Tracker ETF | 0.00 | % | ||||
IQ Hedge Macro Tracker ETF | 0.00 | % | ||||
IQ Hedge Market Neutral Tracker ETF | 13.19 | % | ||||
IQ Hedge Long/Short Tracker ETF | 0.00 | % | ||||
IQ Hedge Event-Driven Tracker ETF | 22.00 | % | ||||
IQ Global Resources ETF | 100.00 | % | ||||
IQ Merger Arbitrage ETF | 100.00 | % | ||||
IQ Real Return ETF | 0.00 | % | ||||
IQ Australia Small Cap ETF | 100.00 | % | ||||
IQ Canada Small Cap ETF | 51.61 | % | ||||
IQ Global Agribusiness Small Cap ETF | 73.58 | % | ||||
IQ Global Oil Small Cap ETF | 32.39 | % | ||||
IQ U.S. Real Estate Small Cap ETF | 1.45 | % | ||||
IQ 50 Percent Hedged FTSE International ETF | 73.70 | % | ||||
IQ 50 Percent Hedged FTSE Europe ETF | 50.25 | % | ||||
IQ 50 Percent Hedged FTSE Japan ETF | 100.00 | % | ||||
IQ Leaders GTAA Tracker ETF | 33.25 | % | ||||
IQ Enhanced Core Bond U.S. ETF | 0.00 | % | ||||
IQ Enhanced Core Plus Bond U.S. ETF | 0.00 | % | ||||
IQ S&P High Yield Low Volatility Bond ETF | 0.00 | % |
IQ Hedge Multi-Strategy Tracker ETF | 0.00 | % | ||||
IQ Hedge Macro Tracker ETF | 0.00 | % | ||||
IQ Hedge Market Neutral Tracker ETF | 10.26 | % | ||||
IQ Hedge Long/Short Tracker ETF | 0.00 | % | ||||
IQ Hedge Event-Driven Tracker ETF | 12.60 | % | ||||
IQ Global Resources ETF | 29.22 | % | ||||
IQ Merger Arbitrage ETF | 100.00 | % | ||||
IQ Real Return ETF | 0.00 | % | ||||
IQ Australia Small Cap ETF | 0.00 | % | ||||
IQ Canada Small Cap ETF | 0.00 | % | ||||
IQ Global Agribusiness Small Cap ETF | 5.45 | % | ||||
IQ Global Oil Small Cap ETF | 5.90 | % | ||||
IQ U.S. Real Estate Small Cap ETF | 1.45 | % | ||||
IQ 50 Percent Hedged FTSE International ETF | 0.00 | % | ||||
IQ 50 Percent Hedged FTSE Europe ETF | 0.00 | % | ||||
IQ 50 Percent Hedged FTSE Japan ETF | 0.00 | % | ||||
IQ Leaders GTAA Tracker ETF | 10.59 | % | ||||
IQ Enhanced Core Bond U.S. ETF | 0.00 | % | ||||
IQ Enhanced Core Plus Bond U.S. ETF | 0.00 | % | ||||
IQ S&P High Yield Low Volatility Bond ETF | 0.00 | % |
Supplemental Information (unaudited) (continued)
Fund | Foreign Taxes Per Shares | Foreign Income Per Shares | ||||||||
IQ Hedge Multi-Strategy Tracker ETF | — | — | ||||||||
IQ Hedge Macro Tracker ETF | — | — | ||||||||
IQ Hedge Market Neutral Tracker ETF | — | — | ||||||||
IQ Hedge Long/Short Tracker ETF | — | — | ||||||||
IQ Hedge Event-Driven Tracker ETF | — | — | ||||||||
IQ Global Resources ETF | — | — | ||||||||
IQ Merger Arbitrage ETF | — | — | ||||||||
IQ Real Return ETF | — | — | ||||||||
IQ Australia Small Cap ETF | — | — | ||||||||
IQ Canada Small Cap ETF | 0.0263 | 0.1762 | ||||||||
IQ Global Agribusiness Small Cap ETF | 0.0333 | 0.3953 | ||||||||
IQ Global Oil Small Cap ETF | 0.0145 | 0.1596 | ||||||||
IQ U.S. Real Estate Small Cap ETF | — | — | ||||||||
IQ 50 Percent Hedged FTSE International ETF | 0.0354 | 0.4304 | ||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 0.0333 | 0.3710 | ||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 0.0384 | 0.3807 | ||||||||
IQ Leaders GTAA Tracker ETF | — | — | ||||||||
IQ Enhanced Core Bond U.S. ETF | — | — | ||||||||
IQ Enhanced Core Plus Bond U.S. ETF | — | — | ||||||||
IQ S&P High Yield Low Volatility Bond ETF | — | — |
Board Review of Investment Advisory Agreement (unaudited)
1. | The nature, extent and quality of the facilities and services provided by the Advisor and MacKay. The Board noted the responsibilities that Advisor has as the HYLV Fund’s investment adviser, including overall supervisory responsibility for the general management and investment of the HYLV Fund’s securities portfolio, monitoring compliance with regulatory requirements and objectives and policies, daily monitoring of the portfolio, overseeing service providers (including MacKay), obtaining licenses for use of indexes tracked by the HYLV Fund, providing officers for the Trust, ongoing reporting to the Board, and the implementation of Board directives as they relate to the each series of the Trust. The Board considered the services rendered in respect of the existing series of the Trust in assessing services expected to be provided to the HYLV Fund. |
Board Review of Investment Advisory Agreement (unaudited) (continued)
The Board reviewed the experience, resources, and strengths of the Advisor in managing the existing series of the Trust and IndexIQ Trust’s mutual fund. The Board also considered that the portfolio of the HYLV Fund would be managed by the portfolio management team of MacKay. The Board reviewed the experience of MacKay’s team in managing strategies and asset classes similar to those of the HYLV Fund. Based on their consideration and review of the foregoing information, the Board determined that the HYLV Fund was likely to benefit from the nature, quality, and extent of these services, as well as the ability of the Advisor and MacKay to render such services based on their respective personnel, experience, operations, and resources. | ||
2. | Comparison of services provided and fees charged by the Advisor and other investment advisers to similar clients, and the cost of the services provided and profits to be realized by the Advisor from its relationship with the HYLV Fund. The Board then compared both the services rendered and the fees proposed to be paid in respect of the HYLV Fund pursuant to the Advisory Agreement to contracts of other registered investment advisers providing services to similar ETFs. In particular, the Board compared the HYLV Fund’s advisory fee and expense ratio to other investment companies considered to be in the HYLV Fund’s peer group. | |
The Trustees also considered that the Advisory Agreement included a unitary fee structure, whereby any fees payable to MacKay, as sub-adviser to the HYLV Fund, would be paid by the Advisor out of the advisory fee paid to the Advisor by the HYLV Fund. Additionally, the Trustees considered that the Advisor had proposed an Expense Limitation Agreement that would cap expenses (with certain exceptions) of the HYLV Fund for a period of not less than one year. | ||
After comparing HYLV Fund’s fees with those of other investment companies in the HYLV Fund’s peer group, and in light of the nature, quality, and extent of services proposed to be provided by the Advisor and MacKay, the Board concluded that the level of fees paid (or proposed to be paid) to the Advisor (and by the Advisor to MacKay) with respect to the HYLV Fund is fair and reasonable. | ||
3. | The Advisor’s profitability and the extent to which economies of scale would be realized as the HYLV Fund grows and whether fee levels would reflect such economies of scale. The Board noted that the HYLV Fund is new and, therefore, information on profitability with respect to the HYLV Fund is not available. |
Board Review of Investment Advisory Agreement (unaudited) (continued)
1. | The nature, extent and quality of the facilities and services provided by the Advisor. The Board noted the responsibilities that Advisor has as the Funds’ investment adviser, including overall supervisory responsibility for the general management and investment of each Fund’s securities portfolio, monitoring Fund compliance with regulatory requirements and Fund objectives and policies, daily monitoring of the portfolio, overseeing Fund service providers, obtaining licenses for use of indexes tracked by the Funds, providing officers for the Funds, ongoing reporting to the Board, and the implementation of Board directives as they relate to the Funds. For the Chaikin Funds, the Board considered the services rendered in respect of the existing Funds in assessing services expected to be provided to the Chaikin Funds. |
The Board reviewed the experience, resources, and strengths of the Advisor in managing the existing Funds of the Trust and IndexIQ Trust’s mutual fund. Based on their consideration and review of the foregoing information, and based on the performance of the existing Funds of the Trust, the Board determined that the Funds, including the Chaikin Funds, were likely to benefit from the nature, quality, and extent of these services, as well as the Advisor’s ability to render such services based on its personnel, experience, operations, and resources.
2. | Comparison of services provided and fees charged by the Advisor and other investment advisers to similar clients, and the cost of the services provided and profits to be realized by the Advisor from its relationship with the Funds. The Board then compared both the services rendered and the fees paid with respect to the Funds (and those proposed to be paid in respect of the Chaikin Funds) pursuant to the Advisory Agreement to contracts of other registered investment advisers providing services to similar ETFs. In particular, the Board compared each Fund’s advisory fee and expense ratio (including acquired fund fees and expenses, as applicable) to other investment companies considered to be in each such Fund’s peer group. |
Board Review of Investment Advisory Agreement (unaudited) (continued)
Additionally, the Trustees considered that the Advisor had put in place or proposed to put in place expense limitation or fee waiver agreements whereby the Advisor reimburses expenses and/or waives fees to limit the expenses (with certain exceptions) of certain Funds, including the Chaikin Funds, for a period of not less than one year.
After comparing each Fund’s fees with those of other investment companies in the Fund’s peer group, and in light of the nature, quality, and extent of services provided by the Advisor (and those proposed to be provided in respect of the Chaikin Funds) and the costs incurred by the Advisor in rendering those services, the Board concluded that the level of fees paid (or proposed to be paid) to the Advisor with respect to each Fund is fair and reasonable.
3. | The Advisor’s profitability and the extent to which economies of scale would be realized as the Funds grow and whether fee levels would reflect such economies of scale. The Board discussed with the Advisor the costs and profitability of the Advisor in connection with its serving as investment adviser to each Fund, including operational costs. The Board noted that the Chaikin Funds had not yet commenced operations, and therefore no direct historical profitability data was available for consideration for such Funds. |
4. | Investment performance of the Funds. The Board considered the investment performance of the existing Funds, including tracking error. In particular, the Board considered the investment performance of the Funds relative to their stated objectives and the success of the Advisor in reaching such objectives. The Board considered each Fund’s investment performance compared to the underlying index that each Fund seeks to track and includes in its prospectus and shareholder reports. The Board also considered each Fund’s investment performance compared to the respective Fund’s peer group. The Board considered that the Chaikin Funds had not yet commenced operations, and therefore had no performance or operational history to consider. |
Based on the foregoing and such other matters as were deemed relevant, and while no single factor was determinative in the decision, the Independent Trustees concluded that the terms of the Advisory Agreement with the Advisor were reasonable and fair to the Funds and to recommend to the Board the approval of the Advisory Agreement. As a result, all of the Board members, including the Independent Trustees, determined that the amendment of the Advisory Agreement to apply such agreement to the Chaikin Funds and the continuation of the Advisory Agreement with IndexIQ was in the best interests of each applicable Fund and its shareholders. The Board and the Independent Trustees, voting separately, approved the amendment to the Advisory Agreement and the continuation of the Advisory Agreement for an additional one-year period.
Board of Trustees and Officers (unaudited)
Name and Year of Birth1 | Position(s) Held with Trust | Term of Office and Length of Time Served2 | Principal Occupation(s) During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee3 | Other Directorships Held by Trustee During Past 5 Years | |||||
Reena Aggarwal, 1957 | Trustee | Since August 2008 | Robert E. McDonough Professor (2003 to present) and Professor of Finance (2000 to 2003), McDonough School of Business, Georgetown University (2000 to present); Co-Chair of Board, Social Innovations and Public Service Fund, Georgetown University (2012 to present); and Director, Brightwood Capital Advisors, L.P. (2013 to present). | 21 | FBR & Co. (2011 to present) | |||||
Michael A. Pignataro, 1959 | Trustee | Since April 2015 | Proprietor, Countless Collectables LLC (online retailer) (2009 to present); Director, Credit Suisse Asset Management (2001 to 2013); and Chief Financial Officer, Credit Suisse Funds (1996 to 2012). | 21 | The New Ireland Fund, Inc. (closed-end fund) (2015 to present) | |||||
Paul D. Schaeffer, 1951 | Trustee | Since April 2015 | President, AlphaHut (dba Aspiring Solution Partners) (financial services consulting) (2013 to present); Managing Director, Forward Management LLC (asset management) (2010 to 2013); and President, Reflow Management (mutual fund service provider) (2008 to 2010). | 21 | Context Capital Funds (mutual fund trust) (2014 to present); PopTech! (conference operator) (2012 to present) | |||||
Interested Trustee | ||||||||||
Adam S. Patti, 19704 | Chairman and Trustee President and Principal Executive Officer | Since November 2008 Since July 2008 | Chairman, Trustee, President and Principal Executive, IndexIQ Trust (2008 to present); Chief Executive Officer, the Advisor (2007 to present); and Chief Executive Officer, IndexIQ (2006 to present). | 21 | None |
Board of Trustees and Officers (unaudited) (continued)
Name and Year of Birth1 | Position(s) Held with Trust | Term of Office and Length of Time Served2 | Principal Occupation(s) During Past 5 Years | |||
Kevin M. Bopp, 1969 | Chief Compliance Officer | Since January 2017 | Chief Compliance Officer, IndexIQ (since January 2017); Chief Compliance Officer (since January 2016), Director and Associate General Counsel (2011 to 2014) and Vice President and Assistant General Counsel (2010 to 2011), New York Life Investment Management LLC; Vice President and Chief Compliance Officer, MainStay VP Funds Trust, MainStay DefinedTerm Municipal Opportunities Fund (since 2014); Assistant Secretary, MainStay Funds, MainStay Funds Trust and MainStay VP Funds Trust (2010 to 2014), MainStay DefinedTerm Municipal Opportunities Fund (2011 to 2014). | |||
Matthew V. Curtin, 1982 | Secretary, Chief Compliance Officer | Since June 2015 | Legal Counsel, IndexIQ (since June 2015); Chief Compliance Officer, IndexIQ, IndexIQ Trust, IndexIQ ETF Trust and IndexIQ Active ETF Trust (June 2015 to January 2017); Associate General Counsel, New York Life Insurance Company (since February 2015); Associate, Dechert LLP (2007 to 2015). | |||
David L. Fogel, 1971 | Treasurer, Principal Financial Officer and Principal Accounting Officer | Since October 2008 | Treasurer, Principal Financial Officer and Principal Accounting Officer, IndexIQ Trust (2008 to present); Executive Vice President, IndexIQ Trust (2011 to present); President (2013 to present) and Executive Vice President (2006 to 2013), IndexIQ; and formerly, Chief Compliance Officer, IndexIQ Trust (2008-2015). | |||
Executive Vice President | Since June 2011 |
1 | The address of each Trustee or officer is c/o IndexIQ, 800 Westchester Avenue, Suite S-710, Rye Brook, New York 10573. |
2 | Trustees and Officers serve until their successors are duly elected and qualified. |
3 | The Funds are part of a “fund complex” as defined in the 1940 Act. The fund complex includes all open-end funds (including all of their portfolios) advised by the Advisor and any funds that have an investment advisor that is an affiliated person of the Advisor. As of the date of this SAI, the fund complex consists of the Trust’s Funds and the one fund of the IndexIQ Trust advised by the Advisor. |
4 | Mr. Patti is an “interested person” of the Trust (as that term is defined in the 1940 Act) because of his affiliations with the Advisor. |
IQ Hedge Macro Tracker ETF
IQ Hedge Market Neutral Tracker ETF
IQ Hedge Long/Short Tracker ETF
IQ Hedge Event-Driven Tracker ETF
IQ Global Resources ETF
IQ Merger Arbitrage ETF
IQ Real Return ETF
IQ Australia Small Cap ETF
IQ Canada Small Cap ETF
IQ Global Agribusiness Small Cap ETF
IQ Global Oil Small Cap ETF
IQ U.S. Real Estate Small Cap ETF
IQ 50 Percent Hedged FTSE International ETF
IQ 50 Percent Hedged FTSE Europe ETF
IQ 50 Percent Hedged FTSE Japan ETF
IQ Leaders GTAA Tracker ETF
IQ Enhanced Core Bond U.S. ETF
IQ Enhanced Core Plus Bond U.S. ETF
IQ S&P High Yield Low Volatility Bond ETF
800 Westchester Avenue
Suite S-710
Rye Brook, NY 10573
1290 Broadway, Suite 1100
Denver, CO 80203
101 Barclay Street
New York, NY 10286
280 West 55th Street
New York, New York 10019
300 Madison Avenue
New York, NY 10017
Item 2. Code of Ethics.
(a) | The registrant, as of the end of the period covered by this report, has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. |
(c) | There have been no amendments, during the period covered by this report, to a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics description. |
(d) | The registrant has not granted any waivers, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this item’s instructions. |
Item 3. Audit Committee Financial Expert.
The Registrant’s Board of Trustees has two audit committee financial experts serving on its audit committee, an “independent” Trustee, Reena Aggarwal and Michael Pignataro. Under applicable securities laws, a person who is determined to be an audit committee financial expert will not be deemed an “expert” for any purpose, including without limitation for the purposes of Section 11 of the Securities Act of 1933, as a result of being designated or identified as an audit committee financial expert. The designation or identification of a person as an audit committee financial expert does not impose on such person any duties, obligations, or liabilities that are greater than the duties, obligations, and liabilities imposed on such person as a member of the audit committee and Board of Trustees in the absence of such designation or identification.
Item 4. Principal Accountant Fees and Services.
Audit Fees
(a) | The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years are $383,770 for 2017 and $302,500 for 2016. |
Audit-Related Fees
(b) | The aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant's financial statements and are not reported under paragraph (a) of this Item are $0 for 2017 and $0for 2016. |
Tax Fees
(c) | The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning are $0 for 2017 and $0 for 2016. |
All Other Fees
(d) | The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item are $0_ for 2017 and $0 for 2016. |
(e)(1) | Per Rule 2-01(c)(7)(A), the Audit Committee pre-approves all of the Audit, Audit-Related, Tax and Other Fees of the Registrant. |
(e)(2) | 100% of services described in each of Items 4(b) through (d) were approved by the audit committee pursuant to paragraph (c)(7)(A) of Rule 2-01 of Regulation S-X. |
(f) | No response required. |
(g) | The aggregate non-audit fees billed by the principal accountant for services rendered to the registrant's investment adviser (not including any subadvisor whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant were (i) approximately $5,600,000 for the fiscal year ended April 30, 2017, and (ii) $5,300,000 for the fiscal year ended April 30, 2016. |
(h) | The registrant’s Audit Committee has determined that the non-audit services rendered by the principal accountant for the fiscal year ended April 30, 2017 to the registrant’s investment adviser and any entity controlling, controlled by, or under common control with the registrant’s investment adviser that provides ongoing services to the registrant that were not required to be pre-approved by the Audit Committee because they did not relate directly to the operations and financial reporting of the registrant were compatible with maintaining the respective independence of the principal accountant during the relevant time period. |
Item 5. Audit Committee of Listed Registrants.
(a) | The Fund has a designated Audit Committee in accordance with Section 3(a)(58)(A) of the Securities and Exchange Act of 1934 (the “Exchange Act”) and the members of such committee are Reena Aggarwal, Michael Pignataro, and Paul Schaeffer. |
(b) | Not applicable. |
Item 6. Investments.
(a) | Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report to shareholders filed under Item 1 of this form. |
(b) | Not applicable. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of trustees, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.
Item 11. Controls and Procedures.
(a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d))) that occurred during the registrant’s |
second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. Exhibits.
(a)(1) | Code of ethics that is the subject of disclosure required by Item 2 is attached hereto. |
(a)(2) | Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
(a)(3) | Not applicable. |
(b) | Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) | IndexIQ ETF Trust |
By (Signature and Title)* | /s/ Adam S. Patti |
Adam S. Patti | |
(Principal Executive Officer) |
Date | July 7, 2017 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)* | /s/ Adam S. Patti |
Adam S. Patti | |
(Principal Executive Officer) |
Date | July 7, 2017 |
By (Signature and Title)* | /s/ David L. Fogel |
David L. Fogel | |
(Principal Financial Officer) |
Date | July 7, 2017 |
* Print the name and title of each signing officer under his or her signature.