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)
51 Madison Avenue, 4th Floor
New York, NY 10010
(Address of principal executive offices) (Zip code)
Kirk C. Lehneis
IndexIQ Advisors LLC
51 Madison Avenue, 4th Floor
New York, NY 10010
(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, 2018
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.
The investment return and value of each of the Funds’ shares will fluctuate so that an investor’s shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Consider the Funds’ investment objectives, risks, charges and expenses carefully before investing. The prospectus and the statement of additional information include this and other relevant information about the Funds and are available by visiting nylinvestments.com/etfs or by calling 1-888-474-7725. Read the prospectus carefully before investing. Each of the Funds’ performance that is current to the most recent month-end is available by visiting nylinvestments.com/etfs or by calling 1-888-474-7725. You may obtain a description of the IndexIQ ETF Trust proxy voting, policies, procedures and information regarding how each Fund voted proxies relating to portfolio securities during the 12-month period ending June 30 (available by August 31) without charge, upon request, by calling 1-888-474-7725 or by accessing the SEC’s website at sec.gov. Such reports may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The Funds file their complete schedules of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Forms N-Q are available on the Commission’s web site at sec.gov. The Funds’ Forms N-Q also may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC; information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. Each Funds’ premium/discount information is available, free of charge, on the Funds’ website, nylinvestments.com/etfs or by calling 1-888-474-7725. IndexIQ® and IQ® are registered service marks of New York Life Insurance Company. New York Life Investments is a service mark and name under which New York Life Investment Management LLC does business. New York Life Investments, an indirect subsidiary of New York Life Insurance Company, New York, New York 10010, provides investment advisory products and services. IndexIQ® is an indirect wholly owned subsidiary of New York Life Investment Management Holdings LLC. ALPS Distributors, Inc. (ALPS) is the principal underwriter of the ETFs, and NYLIFE Distributors LLC is a distributor of the ETFs and the principal underwriter of the IQ Hedge Multi-Strategy Plus Fund. NYLIFE Distributors LLC is located at 30 Hudson Street, Jersey City, NJ 07302. ALPS Distributors, Inc. is not affiliated with NYLIFE Distributors LLC. NYLIFE Distributors LLC is a Member FINRA/SIPC.
• | Receive email notifications when your most recent shareholder communications are available for review. |
• | Access prospectuses, annual reports and semi-annual reports online. |
1. | Visit https://www.icsdelivery.com/live/ |
2. | Follow the simple enrollment instructions |
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President
Registered Representative of NYLIFE Distributors LLC
* | Diversification does not eliminate the risk of experiencing investment loss. |
1 | Validated by NASDAQ: The Chaikin portfolios, powered by the Power Gauge Rating, have outperformed their benchmarks since inception in April 2014. |
2 | Benzinga Fintech Awards, May 11, 2017. |
1 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 7 for more information on this index. |
3 | A 130/30 extension structure implies a strategy allowing the simultaneous holding of both long and short positions on different securities in the portfolio, shorting stocks up to 30% of the portfolio value and then using the proceeds of the short to take a long position in the stocks believed to potentially outperform the market. The “130” portion stands for 130% exposure to its long portfolio and the “30” portion stands for 30% exposure to its short portfolio. The same concept applies to a 110/10 extension structure, simply using different percentages in the ratio. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2018)
(as of April 30, 2018)
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 | 4.22 | % | 0.58 | % | 1.95 | % | 3.05 | % | 31.49 | % | ||||||||||||
IQ Hedge Multi-Strategy Tracker ETF NAV | 4.24 | % | 0.58 | % | 1.98 | % | 3.06 | % | 31.55 | % | ||||||||||||
IQ Hedge Multi-Strategy Index | 4.81 | % | 1.71 | % | 3.13 | % | 4.00 | % | 42.88 | % | ||||||||||||
HFRI Fund of Funds Composite Index3 | 5.86 | % | 1.88 | % | 3.27 | % | 3.93 | % | 41.94 | % | ||||||||||||
S&P 500 Index | 12.60 | % | 9.88 | % | 12.26 | % | 15.64 | % | 275.48 | % |
1 | Fund Inception Date: 3/25/2009. |
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 4/30/2018. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 9 for more information on this index. |
3 | A 130/30 extension structure implies a strategy allowing the simultaneous holding of both long and short positions on different securities in the portfolio, shorting stocks up to 30% of the portfolio value and then using the to take a long position in the stocks believed to potentially outperform the market. The “130” portion stands for 130% exposure to its long portfolio and the “30” portion stands for 30% exposure to its short portfolio. The same applies to a 110/10 extension structure, simply using different percentages in the ratio. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2018)
(as of April 30, 2018)
1 Year | 3 Year | 5 Year | Since Inception1 | |||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | ||||||||||||||||||
IQ Hedge Macro Tracker ETF Market Price2 | 3.54 | % | 1.14 | % | 0.16 | % | 1.41 | % | 13.28 | % | ||||||||||||
IQ Hedge Macro Tracker ETF NAV | 3.50 | % | 1.22 | % | 0.19 | % | 1.42 | % | 13.34 | % | ||||||||||||
IQ Hedge Macro Index | 4.20 | % | 2.10 | % | 0.98 | % | 2.15 | % | 20.84 | % | ||||||||||||
HFRI Macro (Total) Index3 | 0.82 | % | –0.47 | % | 0.74 | % | 1.21 | % | 11.33 | % | ||||||||||||
MSCI World Index | 13.22 | % | 7.55 | % | 9.28 | % | 11.15 | % | 156.04 | % |
1 | Fund Inception Date: 6/09/2009. |
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 4/30/2018. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 11 for more information on this index. |
3 | A 130/30 extension structure implies a strategy allowing the simultaneous holding of both long and short positions on different securities in the portfolio, shorting stocks up to 30% of the portfolio value and then using the proceeds of the short to take a long position in the stocks believed to potentially outperform the market. The “130” portion stands for 130% exposure to its long portfolio and the “30” portion stands for 30% exposure to its short portfolio. The same concept applies to a 110/10 extension structure, simply using different percentages in the ratio. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2018)
Fund Performance History
(as of April 30, 2018)
1 Year | 3 Year | 5 Year | Since Inception1 | |||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | ||||||||||||||||||
IQ Hedge Market Neutral Tracker ETF Market Price2 | 1.31 | % | 0.57 | % | 0.60 | % | 1.12 | % | 6.38 | % | ||||||||||||
IQ Hedge Market Neutral Tracker ETF NAV | 1.29 | % | 0.53 | % | 0.63 | % | 1.12 | % | 6.39 | % | ||||||||||||
IQ Hedge Market Neutral Index | 1.91 | % | 1.57 | % | 1.71 | % | 2.16 | %�� | 12.64 | % | ||||||||||||
HFRI Equity Market Neutral Index3 | 4.19 | % | 3.51 | % | 3.86 | % | 4.06 | % | 24.49 | % | ||||||||||||
Bloomberg Barclays U.S. Short Treasury Bond Index | 1.09 | % | 0.61 | % | 0.42 | % | 0.39 | % | 2.21 | % |
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 4/30/2018. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 13 for more information on this index. |
3 | A 130/30 extension structure implies a strategy allowing the simultaneous holding of both long and short positions on different securities in the portfolio, shorting stocks up to 30% of the portfolio value and then using the proceeds of the short to take a long position in the stocks believed to potentially outperform the market. The “130” portion stands for 130% exposure to its long portfolio and the “30” portion stands for 30% exposure to its short portfolio. The same concept applies to a 110/10 extension structure, simply using different percentages in the ratio. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2018)
Fund Performance History
(as of April 30, 2018)
1 Year | 3 Year | Since Inception1 | ||||||||||||||||
Average Annual | Average Annual | Average Annual | Cumulative | |||||||||||||||
IQ Hedge Long/Short Tracker ETF Market Price2 | 8.23 | % | 2.68 | % | 3.87 | % | 12.52 | % | ||||||||||
IQ Hedge Long/Short Tracker ETF NAV | 8.02 | % | 4.10 | % | 3.84 | % | 12.42 | % | ||||||||||
IQ Hedge Long/Short Index | 8.78 | % | 5.33 | % | 5.08 | % | 16.64 | % | ||||||||||
HFRI Equity Hedge Index3 | 9.95 | % | 4.73 | % | 5.22 | % | 16.99 | % | ||||||||||
MSCI World Index | 13.22 | % | 7.55 | % | 7.38 | % | 24.77 | % |
1 | Fund Inception Date: 03/24/2015. |
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 4/30/2018. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 15 for more information on this index. |
3 | A 130/30 extension structure implies a strategy allowing the simultaneous holding of both long and short positions on different securities in the portfolio, shorting stocks up to 30% of the portfolio value and then using the proceeds of the short to take a long position in the stocks believed to potentially outperform the market. The “130” portion stands for 130% exposure to its long portfolio and the “30” portion stands for 30% exposure to its short portfolio. The same concept applies to a 110/10 extension structure, simply using different percentages in the ratio. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2018)
IQ Hedge Event-Driven Tracker ETF
(as of April 30, 2018)
1 Year | 3 Year | Since Inception1 | ||||||||||||||||
Average Annual | Average Annual | Average Annual | Cumulative | |||||||||||||||
IQ Hedge Event-Driven Tracker ETF Market Price2 | 3.94 | % | 3.71 | % | 3.66 | % | 11.81 | % | ||||||||||
IQ Hedge Event-Driven Tracker ETF NAV | 3.93 | % | 3.67 | % | 3.65 | % | 11.76 | % | ||||||||||
IQ Hedge Event-Driven Index | 4.44 | % | 4.31 | % | 4.30 | % | 13.96 | % | ||||||||||
HFRI Event-Driven Index3 | 5.99 | % | 3.82 | % | 4.14 | % | 13.32 | % | ||||||||||
Bloomberg Barclays U.S. Aggregate Bond Index | 1.09 | % | 0.61 | % | 0.60 | % | 1.89 | % |
1 | Fund Inception Date: 03/24/2015. |
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 Event-Driven Index is from 3/31/2015 to 4/30/2018. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices and does 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 4/30/2018)
Fund Performance History
(as of April 30, 2018)
1 Year | 3 Year | 5 Year | Since Inception1 | |||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | ||||||||||||||||||
IQ Global Resources ETF Market Price2 | 6.55 | % | 1.59 | % | 0.60 | % | 2.34 | % | 21.80 | % | ||||||||||||
IQ Global Resources ETF NAV | 7.50 | % | 1.69 | % | 0.55 | % | 2.39 | % | 22.28 | % | ||||||||||||
IQ Global Resources Index | 9.08 | % | 3.59 | % | 1.77 | % | 3.55 | % | 34.57 | % | ||||||||||||
MSCI World Index | 13.22 | % | 7.55 | % | 9.28 | % | 9.57 | % | 117.72 | % | ||||||||||||
Bloomberg Commodity Index | 8.02 | % | –4.17 | % | –7.32 | % | –4.46 | % | –32.18 | % |
1 | Fund Inception Date: 10/27/2009. |
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 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices and does 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 4/30/2018)
(as of April 30, 2018)
1 Year | 3 Year | 5 Year | Since Inception1 | |||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | ||||||||||||||||||
IQ Merger Arbitrage ETF Market Price2 | 1.59 | % | 2.38 | % | 4.30 | % | 2.92 | % | 27.51 | % | ||||||||||||
IQ Merger Arbitrage ETF NAV | 1.69 | % | 2.41 | % | 4.15 | % | 2.91 | % | 27.39 | % | ||||||||||||
IQ Merger Arbitrage Index | 2.29 | % | 3.19 | % | 5.01 | % | 3.91 | % | 38.30 | % | ||||||||||||
HFRI ED: Merger Arbitrage Index3 | 2.55 | % | 2.94 | % | 3.34 | % | 3.29 | % | 31.36 | % | ||||||||||||
MSCI World Index | 13.22 | % | 7.55 | % | 9.28 | % | 9.22 | % | 110.85 | % | ||||||||||||
S&P 500 Index | 12.60 | % | 9.88 | % | 12.26 | % | 12.47 | % | 170.12 | % |
1 | Fund Inception Date: 11/17/2009. |
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 ED: Merger Arbitrage Index is from 11/30/2009 to 4/30/2018. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices and does 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 4/30/2018)
(as of April 30, 2018)
1 Year | 3 Year | 5 Year | Since Inception1 | |||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | ||||||||||||||||||
IQ Real Return ETF Market Price2 | 1.81 | % | 1.18 | % | 0.99 | % | 1.30 | % | 11.61 | % | ||||||||||||
IQ Real Return ETF NAV | 1.89 | % | 1.31 | % | 0.98 | % | 1.30 | % | 11.59 | % | ||||||||||||
IQ Real Return Index | 2.03 | % | 1.57 | % | 1.30 | % | 1.72 | % | 15.60 | % | ||||||||||||
Bloomberg Barclays U.S. Short Treasury Bond Index | 1.09 | % | 0.61 | % | 0.42 | % | 0.33 | % | 2.87 | % |
1 | Fund Inception Date: 10/27/2009. |
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 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices and does 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 4/30/2018)
(as of April 30, 2018)
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 | 3.30 | % | 8.68 | % | 6.51 | % | 5.43 | % | 45.60 | % | ||||||||||||
IQ Global Agribusiness Small Cap ETF NAV | 3.75 | % | 8.79 | % | 6.52 | % | 5.46 | % | 45.96 | % | ||||||||||||
IQ Global Agribusiness Small Cap Index | 4.56 | % | 9.60 | % | 7.29 | % | 6.24 | % | 53.79 | % | ||||||||||||
Russell Global Small Cap Agriculture Fishing & Ranching Index | 9.51 | % | 9.52 | % | 7.17 | % | 5.25 | % | 43.91 | % | ||||||||||||
MSCI World Small Cap Index | 14.66 | % | 9.48 | % | 10.80 | % | 9.75 | % | 93.81 | % |
1 | Fund Inception Date: 3/22/2011. |
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 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices and does 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 4/30/2018)
(as of April 30, 2018)
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 | –6.49 | % | 2.10 | % | 3.67 | % | 8.41 | % | 74.34 | % | ||||||||||||
IQ U.S. Real Estate Small Cap ETF NAV | –6.37 | % | 2.20 | % | 3.69 | % | 8.72 | % | 77.74 | % | ||||||||||||
IQ U.S. Real Estate Small Cap Index | –5.74 | % | 3.01 | % | 4.45 | % | 9.55 | % | 87.37 | % | ||||||||||||
Dow Jones U.S. Real Estate Index | –0.17 | % | 4.68 | % | 5.15 | % | 8.51 | % | 75.47 | % |
1 | Fund Inception Date: 6/14/2011. |
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 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices and does 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 4/30/2018)
(as of April 30, 2018)
1 Year | Since Inception1 | |||||||||||||
Average Annual | Average Annual | Cumulative | ||||||||||||
IQ 50 Percent Hedged FTSE International ETF Market Price2 | 12.28 | % | 5.65 | % | 16.49 | % | ||||||||
IQ 50 Percent Hedged FTSE International ETF NAV | 12.84 | % | 5.70 | % | 16.64 | % | ||||||||
FTSE Developed ex North America 50% Hedged to USD Index | 13.64 | % | 6.48 | % | 19.05 | % | ||||||||
FTSE Developed ex North America Index | 15.74 | % | 6.65 | % | 19.58 | % |
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 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices and does 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 4/30/2018)
(as of April 30, 2018)
1 Year | Since Inception1 | |||||||||||||
Average Annual | Average Annual | Cumulative | ||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF Market Price2 | 9.59 | % | 4.83 | % | 14.00 | % | ||||||||
IQ 50 Percent Hedged FTSE Europe ETF NAV | 10.58 | % | 5.00 | % | 14.51 | % | ||||||||
FTSE Developed Europe 50% Hedged to USD Index | 11.14 | % | 5.80 | % | 16.94 | % | ||||||||
FTSE Developed Europe Index | 14.18 | % | 5.15 | % | 14.96 | % |
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 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices and does 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 4/30/2018)
(as of April 30, 2018)
1 Year | Since Inception1 | |||||||||||||
Average Annual | Average Annual | Cumulative | ||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF Market Price2 | 18.29 | % | 5.24 | % | 15.25 | % | ||||||||
IQ 50 Percent Hedged FTSE Japan ETF NAV | 19.11 | % | 5.44 | % | 15.86 | % | ||||||||
FTSE Japan 50% Hedged to USD Index | 19.60 | % | 6.10 | % | 17.87 | % | ||||||||
FTSE Japan Index | 19.74 | % | 8.18 | % | 24.40 | % |
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 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices and does 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 4/30/2018)
(as of April 30, 2018)
1 Year | Since Inception1 | |||||||||||||
Average Annual | Average Annual | Cumulative | ||||||||||||
IQ Leaders GTAA Tracker ETF Market Price2 | 8.40 | % | 9.68 | % | 27.01 | % | ||||||||
IQ Leaders GTAA Tracker ETF NAV | 8.43 | % | 9.67 | % | 26.97 | % | ||||||||
IQ Leaders GTAA Tracker Index | 8.83 | % | 10.31 | % | 28.86 | % | ||||||||
MSCI All Country World Index | 13.48 | % | 14.63 | % | 42.29 | % |
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. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices and does 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 4/30/2018)
(as of April 30, 2018)
1 Year | Since Inception1 | |||||||||||||
Average Annual | Average Annual | Cumulative | ||||||||||||
IQ Enhanced Core Bond U.S. ETF Market Price2 | –2.71 | % | –1.53 | % | –2.99 | % | ||||||||
IQ Enhanced Core Bond U.S. ETF NAV | –2.66 | % | –1.51 | % | –2.96 | % | ||||||||
IQ Enhanced Core Bond U.S. Index | –2.39 | % | –1.23 | % | –2.41 | % | ||||||||
Bloomberg Barclays U.S. Aggregate Bond Index | –0.32 | % | 0.13 | % | 0.25 | % |
1 | Fund Inception Date: 5/10/2016. |
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 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices and does 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 4/30/2018)
(as of April 30, 2018)
1 Year | Since Inception1 | |||||||||||||
Average Annual | Average Annual | Cumulative | ||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF Market Price2 | –1.56 | % | 0.51 | % | 1.01 | % | ||||||||
IQ Enhanced Core Plus Bond U.S. ETF NAV | –1.44 | % | 0.56 | % | 1.10 | % | ||||||||
IQ Enhanced Core Plus Bond U.S. Index | –1.23 | % | 0.77 | % | 1.53 | % | ||||||||
Bloomberg Barclays U.S. Aggregate Bond Index | –0.32 | % | 0.13 | % | 0.25 | % |
1 | Fund Inception Date: 5/10/2016. |
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 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 39 for more information on this index. |
3 | Option-adjusted spread (OAS) is the measurement of the spread of a fixed income security rate and the risk-free rate of return, which is adjusted to take into account an embedded option. Typically, an analyst uses the Treasury securities yield for the risk-free rate. The spread is added to the fixed income security price to make the risk-free bond price the same as the bond. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2018)
(as of April 30, 2018)
1 Year | Since Inception1 | |||||||||||||
Average Annual | Average Annual | Cumulative | ||||||||||||
IQ S&P High Yield Low Volatility Bond ETF Market Price2 | –0.36 | % | 1.30 | % | 1.57 | % | ||||||||
IQ S&P High Yield Low Volatility Bond ETF NAV | 0.39 | % | 1.49 | % | 1.80 | % | ||||||||
S&P U.S. High Yield Low Volatility Corporate Bond Index | 0.88 | % | 1.91 | % | 2.30 | % | ||||||||
Merrill Lynch U.S. High Yield Master II Index | 3.20 | % | 4.16 | % | 5.04 | % |
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. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 41 for more information on this index. |
Management’s Discussion of Fund Performance (unaudited) (continued)
(Since Inception Through 4/30/2018)
(as of April 30, 2018)
Since Inception1 | ||||||
Cumulative | ||||||
IQ Chaikin U.S. Small Cap ETF Market Price2 | 8.36 | % | ||||
IQ Chaikin U.S. Small Cap ETF NAV | 8.33 | % | ||||
NASDAQ Chaikin Power US Small Cap Index | 9.05 | % | ||||
NASDAQ US 1500 Index | 12.47 | % | ||||
Russell 2000 Index | 11.99 | % |
1 | Fund Inception Date: 5/16/2017. |
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. |
Management’s Discussion of Fund Performance (unaudited) (continued)
1 | The price used to calculate the market price returns is the mean between the day’s last bid and ask prices 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 4/30/2018)
(as of April 30, 2018)
Since Inception1 | ||||||
Cumulative | ||||||
IQ Chaikin U.S. Large Cap ETF Market Price2 | 1.32 | % | ||||
IQ Chaikin U.S. Large Cap ETF NAV | 1.31 | % | ||||
NASDAQ Chaikin Power US Large Cap Index | 1.43 | % | ||||
NASDAQ US 300 Total Return Index | –0.13 | % | ||||
S&P 500 Index | –0.14 | % |
1 | Fund Inception Date: 12/13/2017. |
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 11/01/2017 | Ending Account Value 04/30/2018 | Annualized Expense Ratios for the Period 11/01/2017 to 04/30/2018 | Expenses1 Paid During the Period 11/01/2017 to 04/30/2018 | |||||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,008.20 | 0.54 | % | $ | 2.69 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,022.12 | 0.54 | % | $ | 2.71 | ||||||||||
IQ Hedge Macro Tracker ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 996.20 | 0.75 | % | $ | 3.71 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.08 | 0.75 | % | $ | 3.76 | ||||||||||
IQ Hedge Market Neutral Tracker ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 999.10 | 0.76 | % | $ | 3.77 | ||||||||||
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 | $ | 1,014.50 | 0.76 | % | $ | 3.80 | ||||||||||
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 | $ | 1,004.80 | 0.76 | % | $ | 3.78 | ||||||||||
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 | $ | 1,021.70 | 0.76 | % | $ | 3.81 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.03 | 0.76 | % | $ | 3.81 | ||||||||||
IQ Merger Arbitrage ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 992.10 | 0.76 | % | $ | 3.75 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.03 | 0.76 | % | $ | 3.81 | ||||||||||
IQ Real Return ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,008.70 | 0.49 | % | $ | 2.44 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,022.36 | 0.49 | % | $ | 2.46 | ||||||||||
IQ Global Agribusiness Small Cap ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 978.60 | 0.76 | % | $ | 3.73 | ||||||||||
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 | $ | 929.10 | 0.70 | % | $ | 3.35 | ||||||||||
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 | $ | 1,024.30 | 0.20 | % | $ | 1.00 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.80 | 0.20 | % | $ | 1.00 | ||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,016.80 | 0.30 | % | $ | 1.50 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.31 | 0.30 | % | $ | 1.51 | ||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,037.60 | 0.30 | % | $ | 1.52 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.31 | 0.30 | % | $ | 1.51 | ||||||||||
IQ Leaders GTAA Tracker ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,014.70 | 0.46 | % | $ | 2.30 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,022.51 | 0.46 | % | $ | 2.31 | ||||||||||
IQ Enhanced Core Bond U.S. ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 956.50 | 0.21 | % | $ | 1.02 | ||||||||||
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 | $ | 966.70 | 0.21 | % | $ | 1.02 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.75 | 0.21 | % | $ | 1.05 |
Fund Expenses (unaudited) (continued)
Beginning Account Value 11/01/2017 | Ending Account Value 04/30/2018 | Annualized Expense Ratios for the Period 11/01/2017 to 04/30/2018 | Expenses1 Paid During the Period 11/01/2017 to 04/30/2018 | |||||||||||||||
IQ S&P High Yield Low Volatility Bond ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 979.20 | 0.40 | % | $ | 1.96 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,022.81 | 0.40 | % | $ | 2.01 | ||||||||||
IQ Chaikin U.S. Small Cap ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 982.40 | 0.35 | % | $ | 1.72 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.06 | 0.35 | % | $ | 1.76 | ||||||||||
IQ Chaikin U.S. Large Cap ETF* | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,013.10 | 0.25 | % | $ | 0.96 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.55 | 0.25 | % | $ | 1.25 |
* | Fund commenced operations on December 13, 2017. Expenses are calculated using the Fund’s annualized expense ratio, multiplied by the ending value for the period, multiplied by 139/365 (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. |
Industry | % of Net Assets | |||||
U.S. Short Term Treasury Bond Funds | 30.2 | % | ||||
Investment Grade Corporate Bond Funds | 17.2 | |||||
Money Market Fund | 12.6 | |||||
International Small Cap Equity Funds | 7.7 | |||||
Floating Rate Funds | 5.5 | |||||
U.S. Large Cap Growth Funds | 4.0 | |||||
International Bond Funds | 3.8 | |||||
U.S. Multi Cap Funds | 3.7 | |||||
U.S. Small Cap Growth Funds | 3.7 | |||||
High Yield Corporate Bond Funds | 3.5 | |||||
BRIC Equity Funds | 3.4 | |||||
U.S. Large Cap Core Funds | 3.3 | |||||
Convertible Bond Fund | 3.3 | |||||
International Equity Core Fund | 2.3 | |||||
Emerging Markets Small Cap Equity Fund | 2.1 | |||||
International Large Cap Growth Fund | 1.5 | |||||
U.S. Medium Term Treasury Bond Fund | 0.9 | |||||
Europe Equity Fund | 0.7 | |||||
Treasury Inflation-Protected Securities Funds | 0.7 | |||||
Japan Equity Fund | 0.5 | |||||
Volatility Fund | 0.4 | |||||
U.S. Intermediate Term Treasury Bonds Funds | 0.4 | |||||
Gold Fund | 0.4 | |||||
Japanese Yen Fund | 0.3 | |||||
Australian Dollar Fund | 0.3 | |||||
British Pound Fund | 0.2 | |||||
Total Investments | 112.6 | |||||
Other Assets and Liabilities, Net | (12.6 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
U.S. Short Term Treasury Bond Funds | 42.8 | % | ||||
Money Market Fund | 29.0 | |||||
U.S. Multi Cap Funds | 10.0 | |||||
BRIC Equity Funds | 9.3 | |||||
International Bond Funds | 4.9 | |||||
International Small Cap Equity Funds | 4.4 | |||||
Europe Equity Fund | 4.4 | |||||
Treasury Inflation-Protected Securities Funds | 4.2 | |||||
Japan Equity Fund | 3.2 | |||||
U.S. Medium Term Treasury Bond Fund | 2.9 | |||||
Emerging Small Cap Equity Fund | 2.4 | |||||
U.S. Large Cap Value Funds | 2.2 | |||||
U.S. Dollar Fund | 2.1 | |||||
Gold Fund | 2.1 | |||||
Japanese Yen Fund | 2.0 | |||||
U.S. Intermediate Term Treasury Bond Funds | 1.2 | |||||
U.S. Large Cap Growth Funds | 1.0 | |||||
U.S. Large Cap Core Fund | 0.9 | |||||
Total Investments | 129.0 | |||||
Other Assets and Liabilities, Net | (29.0 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
U.S. Short Term Treasury Bond Funds | 38.1 | % | ||||
Floating Rate Funds | 19.7 | |||||
Money Market Funds | 15.0 | |||||
Investment Grade Corporate Bond Funds | 12.1 | |||||
Mortgage Backed Securities Funds | 7.3 | |||||
International Small Cap Equity Funds | 6.4 | |||||
U.S. Large Cap Growth Funds | 4.6 | |||||
U.S. Small Cap Growth Funds | 3.7 | |||||
Euro Funds | 2.4 | |||||
U.S. Large Cap Core Funds | 1.5 | |||||
High Yield Municipal Bond Funds | 1.4 | |||||
Convertible Bond Funds | 1.4 | |||||
High Yield Corporate Bond | 1.1 | |||||
U.S. Preferred Funds | 0.3 | |||||
Total Investments | 115.0 | |||||
Other Assets and Liabilities, Net | (15.0 | ) | ||||
Total Net Assets | 100.0 | % |
See notes to financial statements.
Portfolio Summaries (continued)
April 30, 2018
Industry | % of Net Assets | |||||
Investment Grade Corporate Bond Funds | 26.5 | % | ||||
U.S. Large Cap Core Funds | 15.8 | |||||
Money Market Funds | 12.1 | |||||
International Small Cap Equity Funds | 11.6 | |||||
International Equity Core Funds | 11.3 | |||||
U.S. Short Term Treasury Bond Funds | 8.4 | |||||
International Large Cap Growth Funds | 7.2 | |||||
Floating Rate Funds | 7.2 | |||||
U.S. Large Cap Growth Funds | 6.5 | |||||
U.S. Small Cap Growth Funds | 2.4 | |||||
U.S. Preferred Funds | 2.1 | |||||
Volatility Funds | 1.0 | |||||
Total Investments | 112.1 | |||||
Other Assets and Liabilities, Net | (12.1 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Money Market Funds | 32.8 | % | ||||
Investment Grade Corporate Bond Funds | 30.5 | |||||
Floating Rate Funds | 23.8 | |||||
Convertible Bond Funds | �� | 21.9 | ||||
High Yield Corporate Bond Funds | 16.9 | |||||
U.S. Small Cap Growth Funds | 6.6 | |||||
U.S. Short Term Treasury Bond Funds | 0.0 | (a) | ||||
Total Investments | 132.5 | |||||
Other Assets and Liabilities, Net | (32.5 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Water | 15.6 | % | ||||
Livestock | 15.2 | |||||
Industrial Metals | 13.8 | |||||
Grains Food Fiber | 13.4 | |||||
Money Market Funds | 11.3 | |||||
Coal | 9.1 | |||||
Timber | 8.3 | |||||
Energy | 7.3 | |||||
Precious Metals | 6.8 | |||||
Livestock Operations | 0.3 | |||||
Crop Production and Farming | 0.3 | |||||
Total Investments | 101.4 | |||||
Other Assets and Liabilities, Net | (1.4 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Money Market Funds | 24.6 | % | ||||
Industrials | 17.4 | |||||
Health Care | 13.9 | |||||
Information Technology | 12.7 | |||||
Consumer Discretionary | 7.5 | |||||
Consumer Staples | 6.8 | |||||
U.S. Short Term Treasury Bond Funds | 5.7 | |||||
Energy | 5.6 | |||||
Real Estate | 3.3 | |||||
Utilities | 3.1 | |||||
Financials | 2.5 | |||||
Materials | 2.3 | |||||
Total Investments | 105.4 | |||||
Other Assets and Liabilities, Net | (5.4 | ) | ||||
Total Net Assets | 100.0 | % |
See notes to financial statements.
Portfolio Summaries (continued)
April 30, 2018
Industry | % of Net Assets | |||||
U.S. Short Term Treasury Bond Funds | 59.1 | % | ||||
U.S. Large Cap Core Funds | 10.0 | |||||
U.S. Medium Term Treasury Bond Funds | 7.5 | |||||
U.S. Small Cap Core Funds | 7.3 | |||||
Gold Funds | 6.0 | |||||
Money Market Funds | 4.7 | |||||
Japanese Yen Funds | 3.8 | |||||
Emerging Equity Funds | 3.7 | |||||
U.S. Long Term Treasury Bond Funds | 2.5 | |||||
Total Investments | 104.6 | |||||
Other Assets and Liabilities, Net | (4.6 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Crop Production and Farming | 47.6 | % | ||||
Livestock Operations | 20.8 | |||||
Agricultural Chemicals | 15.1 | |||||
Agricultural Machinery | 8.4 | |||||
Agricultural Supplies and Logistics | 7.6 | |||||
Money Market Funds | 2.3 | |||||
Total Investments | 101.8 | |||||
Other Assets and Liabilities, Net | (1.8 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Diversified REITs | 17.8 | % | ||||
Specialized REITs | 17.0 | |||||
Retail REITs | 16.5 | |||||
Hotel REITs | 16.4 | |||||
Office REITs | 15.2 | |||||
Mortgage REITs | 13.1 | |||||
Money Market Funds | 4.9 | |||||
Residential REITs | 4.0 | |||||
Total Investments | 104.9 | |||||
Other Assets and Liabilities, Net | (4.9 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Financials | 20.4 | % | ||||
Industrials | 14.5 | |||||
Consumer Discretionary | 12.3 | |||||
Consumer Staples | 10.3 | |||||
Health Care | 9.8 | |||||
Materials | 8.5 | |||||
Information Technology | 8.3 | |||||
Energy | 5.5 | |||||
Telecommunication Services | 3.5 | |||||
Real Estate | 3.2 | |||||
Utilities | 3.1 | |||||
Money Market Funds | 1.7 | |||||
Total Investments | 101.1 | |||||
Other Assets and Liabilities, Net | (1.1 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Financials | 21.0 | % | ||||
Industrials | 13.3 | |||||
Consumer Staples | 12.5 | |||||
Health Care | 11.8 | |||||
Consumer Discretionary | 11.1 | |||||
Materials | 8.5 | |||||
Energy | 7.9 | |||||
Information Technology | 4.9 | |||||
Utilities | 3.7 | |||||
Telecommunication Services | 3.6 | |||||
Money Market Funds | 3.0 | |||||
Real Estate | 1.6 | |||||
Total Investments | 102.9 | |||||
Other Assets and Liabilities, Net | (2.9 | ) | ||||
Total Net Assets | 100.0 | % |
See notes to financial statements.
Portfolio Summaries (continued)
April 30, 2018
Industry | % of Net Assets | |||||
Industrials | 21.6 | % | ||||
Consumer Discretionary | 19.6 | |||||
Financials | 12.4 | |||||
Information Technology | 12.0 | |||||
Consumer Staples | 8.7 | |||||
Health Care | 7.3 | |||||
Materials | 6.6 | |||||
Telecommunication Services | 4.4 | |||||
Real Estate | 3.1 | |||||
Utilities | 1.9 | |||||
Energy | 1.1 | |||||
Money Market Fund | 0.1 | |||||
Total Investments | 98.8 | |||||
Other Assets and Liabilities, Net | 1.2 | |||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
International Equity Core Funds | 28.2 | % | ||||
U.S. Large Cap Core Funds | 25.1 | |||||
Aggregate Bond Funds | 22.8 | |||||
Money Market Funds | 15.8 | |||||
Convertible Bond Funds | 9.0 | |||||
Emerging Equity Funds | 6.1 | |||||
U.S. Medium Term Treasury Bond Funds | 4.7 | |||||
High Yield Corporate Bond Funds | 4.0 | |||||
Total Investments | 115.7 | |||||
Other Assets and Liabilities, Net | (15.7 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Investment Grade Corporate Bond Funds | 36.7 | % | ||||
U.S. Long Term Treasury Bond Funds | 30.1 | |||||
Mortgage Backed Securities Funds | 28.6 | |||||
U.S. Intermediate Term Treasury Bond Funds | 3.6 | |||||
Money Market Funds | 1.2 | |||||
U.S. Medium Term Treasury Bond Funds | 0.8 | |||||
Total Investments | 101.0 | |||||
Other Assets and Liabilities, Net | (1.0 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Investment Grade Corporate Bond Funds | 38.0 | % | ||||
Mortgage Backed Securities Funds | 24.1 | |||||
High Yield Corporate Bond Funds | 22.2 | |||||
Money Market Funds | 22.2 | |||||
U.S. Long Term Treasury Bond Funds | 15.5 | |||||
Total Investments | 122.0 | |||||
Other Assets and Liabilities, Net | (22.0 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Consumer Discretionary | 12.9 | % | ||||
Materials | 12.4 | |||||
Energy | 11.6 | |||||
Health Care | 10.9 | |||||
Media | 10.2 | |||||
Industrials | 10.1 | |||||
Telecommunication Services | 9.9 | |||||
Information Technology | 8.1 | |||||
Financials | 5.0 | |||||
Utilities | 3.5 | |||||
Money Market Fund | 1.4 | |||||
Consumer Staples | 1.2 | |||||
Real Estate | 1.0 | |||||
Transportation | 0.5 | |||||
Total Investments | 98.7 | |||||
Other Assets and Liabilities, Net | 1.3 | |||||
Total Net Assets | 100.0 | % |
See notes to financial statements.
Portfolio Summaries (continued)
April 30, 2018
Industry | % of Net Assets | |||||
Industrials | 31.0 | % | ||||
Financials | 27.2 | |||||
Consumer Services | 10.5 | |||||
Consumer Goods | 9.4 | |||||
Technology | 8.1 | |||||
Basic Materials | 7.1 | |||||
Health Care | �� | 3.8 | ||||
Oil & Gas | 2.0 | |||||
Money Market Funds | 0.9 | |||||
Utilities | 0.5 | |||||
Telecommunications | 0.4 | |||||
Total Investments | 100.9 | |||||
Other Assets and Liabilities, Net | (0.9 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Financials | 40.7 | % | ||||
Industrials | 13.4 | |||||
Technology | 9.9 | |||||
Health Care | 9.3 | |||||
Oil & Gas | 8.7 | |||||
Consumer Goods | 7.3 | |||||
Consumer Services | 4.7 | |||||
Utilities | 3.1 | |||||
Basic Materials | 1.5 | |||||
Telecommunications | 1.4 | |||||
Total Investments | 100.0 | |||||
Other Assets and Liabilities, Net | — | (a) | ||||
Total Net Assets | 100.0 | % |
(a) | Less than 0.05%. |
See notes to financial statements.
Shares | Value | |||||||||
Exchange Traded Note — 0.4% | ||||||||||
Volatility Fund — 0.4% | ||||||||||
iPATH S&P 500 VIX Short-Term Futures ETN*(a) (Cost $3,333,724) | 106,979 | $ | 4,447,117 | |||||||
Exchange Traded Vehicles — 1.2% | ||||||||||
Australian Dollar Fund — 0.3% | ||||||||||
CurrencyShares Australian Dollar Trust | 43,629 | 3,286,573 | ||||||||
British Pound Fund — 0.2% | ||||||||||
CurrencyShares British Pound Sterling Trust*(a) | 16,878 | 2,256,082 | ||||||||
Gold Fund — 0.4% | ||||||||||
PowerShares DB Gold Fund*(a) | 98,151 | 4,079,155 | ||||||||
Japanese Yen Fund — 0.3% | ||||||||||
CurrencyShares Japanese Yen Trust*(a) | 42,702 | 3,742,830 | ||||||||
Total Exchange Traded Vehicles (Cost $13,630,593) | 13,364,640 | |||||||||
Investment Companies — 98.4% | ||||||||||
BRIC Equity Funds — 3.4% | ||||||||||
iShares China Large-Cap ETF(a) | 406,688 | 19,085,868 | ||||||||
iShares MSCI China ETF(a) | 214,001 | 14,305,967 | ||||||||
SPDR S&P China ETF | 45,618 | 4,943,166 | ||||||||
Total BRIC Equity Funds | 38,335,001 | |||||||||
Convertible Bond Fund — 3.3% | ||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF(a) | 715,996 | 36,830,834 | ||||||||
Emerging Markets Small Cap Equity Fund — 2.1% | ||||||||||
SPDR S&P Emerging Markets SmallCap ETF(a) | 466,771 | 23,861,334 | ||||||||
Europe Equity Fund — 0.7% | ||||||||||
Xtrackers MSCI Europe Hedged Equity ETF(a) | 287,305 | 8,245,654 | ||||||||
Floating Rate Funds — 5.5% | ||||||||||
PowerShares Senior Loan Portfolio | 2,027,214 | 46,848,916 | ||||||||
SPDR Blackstone / GSO Senior Loan ETF(a) | 309,510 | 14,683,154 | ||||||||
Total Floating Rate Funds | 61,532,070 | |||||||||
High Yield Corporate Bond Funds — 3.5% | ||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF(a) | 266,970 | 22,879,329 | ||||||||
SPDR Bloomberg Barclays High Yield Bond ETF(a) | 403,318 | 14,467,017 | ||||||||
Xtrackers USD High Yield Corporate Bond ETF | 33,470 | 1,657,434 | ||||||||
Total High Yield Corporate Bond Funds | 39,003,780 | |||||||||
International Bond Funds — 3.8% | ||||||||||
iShares J.P. Morgan USD Emerging Markets Bond ETF | 153,590 | 16,916,403 | ||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
International Bond Funds (continued) | ||||||||||
PowerShares Emerging Markets Sovereign Debt Portfolio(a) | 254,452 | $ | 6,989,796 | |||||||
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | 68,461 | 2,008,646 | ||||||||
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 857,649 | 16,063,766 | ||||||||
WisdomTree Emerging Markets Local Debt Fund(a) | 16,902 | 636,698 | ||||||||
Total International Bond Funds | 42,615,309 | |||||||||
International Equity Core Fund — 2.3% | ||||||||||
Xtrackers MSCI EAFE Hedged Equity ETF(a) | 831,105 | 26,512,250 | ||||||||
International Large Cap Growth Fund — 1.5% | ||||||||||
iShares MSCI EAFE Growth ETF | 209,179 | 16,910,030 | ||||||||
International Small Cap Equity Funds — 7.7% | ||||||||||
iShares MSCI EAFE Small-Cap ETF(a) | 859,746 | 56,416,532 | ||||||||
SPDR S&P International Small Cap ETF | 137,706 | 4,900,957 | ||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | 215,196 | 25,739,594 | ||||||||
Total International Small Cap Equity Funds | 87,057,083 | |||||||||
Investment Grade Corporate Bond Funds — 17.2% | ||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF(b) | 716,237 | 82,524,827 | ||||||||
iShares U.S. Credit Bond ETF | 36,167 | 3,891,931 | ||||||||
SPDR Portfolio Short Term Corporate Bond ETF(a) | 296,683 | 8,950,926 | ||||||||
Vanguard Intermediate-Term Corporate Bond ETF(a) | 577,410 | 48,311,895 | ||||||||
Vanguard Short-Term Corporate Bond ETF(a) | 635,944 | 49,705,383 | ||||||||
Total Investment Grade Corporate Bond Funds | 193,384,962 | |||||||||
Japan Equity Fund — 0.5% | ||||||||||
Xtrackers MSCI Japan Hedged Equity ETF(a) | 136,781 | 5,952,709 | ||||||||
Treasury Inflation-Protected Securities Funds — 0.7% | ||||||||||
iShares 0-5 Year TIPS Bond ETF(a) | 18,315 | 1,828,386 | ||||||||
PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fund(a) | 19,543 | 1,011,937 | ||||||||
Vanguard Short-Term Inflation-Protected Securities ETF | 102,975 | 5,034,448 | ||||||||
Total Treasury Inflation-Protected Securities Funds | 7,874,771 | |||||||||
U.S. Large Cap Core Funds — 3.3% | ||||||||||
Financial Select Sector SPDR Fund | 916,177 | 25,149,059 | ||||||||
First Trust Dow Jones Internet Index Fund*(a) | 20,113 | 2,490,794 |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Large Cap Core Funds (continued) | ||||||||||
Health Care Select Sector SPDR Fund | 52,461 | $ | 4,315,442 | |||||||
Technology Select Sector SPDR Fund | 76,184 | 4,987,004 | ||||||||
Total U.S. Large Cap Core Funds | 36,942,299 | |||||||||
U.S. Large Cap Growth Funds — 4.0% | ||||||||||
iShares Russell 1000 Growth ETF | 139,796 | 19,075,164 | ||||||||
iShares S&P 500 Growth ETF(a) | 61,758 | 9,600,281 | ||||||||
SPDR Portfolio S&P 500 Growth ETF(a) | 27,316 | 917,545 | ||||||||
Vanguard Growth ETF(a) | 109,827 | 15,625,087 | ||||||||
Total U.S. Large Cap Growth Funds | 45,218,077 | |||||||||
U.S. Medium Term Treasury Bond Fund — 0.9% | ||||||||||
iShares 3-7 Year Treasury Bond ETF(a) | 84,268 | 10,071,711 | ||||||||
U.S. Intermediate Term Treasury Bond Funds — 0.4% | ||||||||||
Schwab Intermediate-Term U.S. Treasury ETF(a) | 35,474 | 1,845,357 | ||||||||
Vanguard Intermediate-Term Treasury ETF | 37,589 | 2,342,171 | ||||||||
Total U.S. Medium Term Treasury Bond Funds | 4,187,528 | |||||||||
U.S. Multi Cap Funds — 3.7% | ||||||||||
iShares Core S&P Total U.S. Stock Market ETF | 75,166 | 4,558,818 | ||||||||
Schwab U.S. Broad Market ETF(a) | 63,272 | 4,051,306 | ||||||||
Vanguard Total Stock Market ETF(a) | 239,031 | 32,587,096 | ||||||||
Total U.S. Multi Cap Funds | 41,197,220 | |||||||||
U.S. Short Term Treasury Bond Funds — 30.2% | ||||||||||
Goldman Sachs Treasury Access 0-1 Year ETF | 219,093 | 21,922,446 | ||||||||
iShares Short Treasury Bond ETF(b) | 2,193,070 | 242,027,205 | ||||||||
PowerShares Treasury Collateral Portfolio ETF | 92,123 | 9,745,010 | ||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF(a) | 715,944 | 65,537,514 | ||||||||
Total U.S. Short Term Treasury Bond Funds | 339,232,175 | |||||||||
U.S. Small Cap Growth Funds — 3.7% | ||||||||||
iShares Russell 2000 Growth ETF(a) | 91,250 | 17,427,838 | ||||||||
iShares S&P Small-Cap 600 Growth ETF(a) | 55,663 | 9,710,410 | ||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Small Cap Growth Funds (continued) | ||||||||||
Vanguard Small-Cap Growth ETF(a) | 85,233 | $ | 14,009,748 | |||||||
Total U.S. Small Cap Growth Funds | 41,147,996 | |||||||||
Total Investment Companies | ||||||||||
(Cost $1,076,499,320) | 1,106,112,793 | |||||||||
Short-Term Investment — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 1.58%(c) | ||||||||||
(Cost $1,614,375) | 1,614,375 | 1,614,375 | ||||||||
Investment of Cash Collateral For Securities Loaned — 12.5% | ||||||||||
Money Market Fund — 12.5% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 1.61%(c) | ||||||||||
(Cost $140,959,766) | 140,959,766 | 140,959,766 | ||||||||
Total Investments — 112.6% | ||||||||||
(Cost $1,236,037,778) | 1,266,498,691 | |||||||||
Other Assets and Liabilities, Net — (12.6)% | (142,220,563 | ) | ||||||||
Net Assets — 100.0% | $ | 1,124,278,128 |
* | 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 $173,134,325; total market value of collateral held by the Fund was $177,517,591. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $36,557,825. |
(b) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $2,822,768. |
(c) | Reflects the 1-day yield at April 30, 2018. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
April 30, 2018
Total Return Benchmark | Counterparties | Annual | Expiration | Payment | Notional | Value/ | ||||||||||||
CurrencyShares Australian Dollar Trust | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | $ | 165,274 | $ | — | ||||||||||
CurrencyShares Australian Dollar Trust | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 165,274 | — | ||||||||||||
CurrencyShares British Pound Sterling Trust | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 113,486 | — | ||||||||||||
CurrencyShares British Pound Sterling Trust | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 113,486 | — | ||||||||||||
CurrencyShares Euro Trust | Morgan Stanley | (1.50 | ) | 5/21/2018 | Monthly | (2,829,635 | ) | — | ||||||||||
CurrencyShares Euro Trust | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (2,829,635 | ) | — | |||||||||||
CurrencyShares Japanese Yen Trust | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 188,185 | — | ||||||||||||
CurrencyShares Japanese Yen Trust | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 188,185 | — | ||||||||||||
Energy Select Sector SPDR Fund | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (1,508,676 | ) | — | |||||||||||
Energy Select Sector SPDR Fund | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (1,508,676 | ) | — | |||||||||||
Financial Select Sector SPDR Fund | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 2,529,161 | — | ||||||||||||
First Trust Dow Jones Internet Index Fund | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 125,202 | — | ||||||||||||
First Trust Dow Jones Internet Index Fund | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 125,202 | — | ||||||||||||
Goldman Sachs Treasury Access 0-1 Year ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 1,102,361 | — | ||||||||||||
Goldman Sachs Treasury Access 0-1 Year ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 1,102,361 | — | ||||||||||||
Health Care Select Sector SPDR Fund | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 434,004 | — | ||||||||||||
iPath Bloomberg Commodity Index Total Return ETN | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (286,735 | ) | — | |||||||||||
iPath Bloomberg Commodity Index Total Return ETN | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (286,735 | ) | — | |||||||||||
iPATH S&P 500 VIX Short-Term Futures ETN | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 223,605 | — | ||||||||||||
iPATH S&P 500 VIX Short-Term Futures ETN | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 223,605 | — | ||||||||||||
iShares 0-5 Year TIPS Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 91,943 | — | ||||||||||||
iShares 0-5 Year TIPS Bond ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 91,943 | — | ||||||||||||
iShares 3-7 Year Treasury Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 506,406 | — | ||||||||||||
iShares 3-7 Year Treasury Bond ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 506,406 | — | ||||||||||||
iShares China Large-Cap ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 1,919,437 | — | ||||||||||||
iShares Core MSCI EAFE ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (755,231 | ) | — | |||||||||||
iShares Core MSCI EAFE ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (755,231 | ) | — | |||||||||||
iShares Core MSCI Emerging Markets ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (1,929,432 | ) | — | |||||||||||
iShares Core MSCI Emerging Markets ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (1,929,432 | ) | — | |||||||||||
iShares Core S&P Total U.S. Stock Market ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 229,196 | — | ||||||||||||
iShares Core S&P Total U.S. Stock Market ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 229,196 | — | ||||||||||||
iShares Edge MSCI Min Vol Emerging Markets ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (2,635,073 | ) | — | |||||||||||
iShares Edge MSCI Min Vol Emerging Markets ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (2,635,073 | ) | — | |||||||||||
iShares Edge MSCI Min Vol USA ETF | Morgan Stanley | 1.00 | 5/21/2018 | Monthly | (3,167,831 | ) | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
April 30, 2018
Total Return Benchmark | Counterparties | Annual | Expiration | Payment | Notional | Value/ | ||||||||||||
iShares Edge MSCI Min Vol USA ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | $ | (3,167,831 | ) | $ | — | |||||||||
iShares Europe ETF | Morgan Stanley | (2.50 | ) | 5/21/2018 | Monthly | (216,342 | ) | — | ||||||||||
iShares Europe ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (216,342 | ) | — | |||||||||||
iShares Floating Rate Bond ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (4,708,946 | ) | — | |||||||||||
iShares Floating Rate Bond ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (4,708,946 | ) | — | |||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 1,150,437 | — | ||||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 1,150,437 | — | ||||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 4,149,648 | — | ||||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 4,149,648 | — | ||||||||||||
iShares J.P. Morgan USD Emerging Markets Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 850,611 | — | ||||||||||||
iShares J.P. Morgan USD Emerging Markets Bond ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 850,611 | — | ||||||||||||
iShares MBS ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (3,289,116 | ) | — | |||||||||||
iShares MBS ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (3,289,116 | ) | — | |||||||||||
iShares MSCI All Country Asia ex Japan ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (738,558 | ) | — | |||||||||||
iShares MSCI All Country Asia ex Japan ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (738,558 | ) | — | |||||||||||
iShares MSCI China ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 1,438,746 | — | ||||||||||||
iShares MSCI EAFE Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 850,275 | — | ||||||||||||
iShares MSCI EAFE Growth ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 850,275 | — | ||||||||||||
iShares MSCI EAFE Small-Cap ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 2,836,818 | — | ||||||||||||
iShares MSCI EAFE Small-Cap ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 2,836,818 | — | ||||||||||||
iShares MSCI Eurozone ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (1,110,555 | ) | — | |||||||||||
iShares MSCI Eurozone ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (1,110,555 | ) | — | |||||||||||
iShares MSCI Japan ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (1,424,070 | ) | — | |||||||||||
iShares MSCI Japan ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (1,424,070 | ) | — | |||||||||||
iShares MSCI Pacific ex Japan ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (397,117 | ) | — | |||||||||||
iShares MSCI Pacific ex Japan ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (397,117 | ) | — | |||||||||||
iShares Russell 1000 Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 959,107 | — | ||||||||||||
iShares Russell 1000 Growth ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 959,107 | — | ||||||||||||
iShares Russell 1000 Value ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (541,771 | ) | — | |||||||||||
iShares Russell 1000 Value ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (539,605 | ) | — | |||||||||||
iShares Russell 2000 ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (1,564,324 | ) | — | |||||||||||
iShares Russell 2000 ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (1,564,324 | ) | — | |||||||||||
iShares Russell 2000 Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 876,453 | — | ||||||||||||
iShares Russell 2000 Growth ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 876,453 | — | ||||||||||||
iShares Russell 2000 Value ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (1,583,651 | ) | — | |||||||||||
iShares Russell 2000 Value ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (1,583,651 | ) | — | |||||||||||
iShares S&P 500 Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 482,828 | — | ||||||||||||
iShares S&P 500 Growth ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 482,828 | — | ||||||||||||
iShares S&P 500 Value ETF | Morgan Stanley | 0.50 | 5/21/2018 | Monthly | (219,011 | ) | — | |||||||||||
iShares S&P 500 Value ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (219,011 | ) | — | |||||||||||
iShares S&P Small-Cap 600 Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 488,286 | — | ||||||||||||
iShares S&P Small-Cap 600 Growth ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 488,286 | — | ||||||||||||
iShares S&P Small-Cap 600 Value ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (924,377 | ) | — | |||||||||||
iShares S&P Small-Cap 600 Value ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (924,377 | ) | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
April 30, 2018
Total Return Benchmark | Counterparties | Annual | Expiration | Payment | Notional | Value/ | ||||||||||||
iShares Short Treasury Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | $ | 12,169,949 | $ | — | ||||||||||
iShares Short Treasury Bond ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 12,169,949 | — | ||||||||||||
iShares Silver Trust | Morgan Stanley | 0.75 | 5/21/2018 | Monthly | (172,241 | ) | — | |||||||||||
iShares Silver Trust | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (172,241 | ) | — | |||||||||||
iShares U.S. Credit Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 195,743 | — | ||||||||||||
iShares U.S. Credit Bond ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 195,743 | — | ||||||||||||
iShares U.S. Preferred Stock ETF | Morgan Stanley | 0.35 | 5/21/2018 | Monthly | (805,275 | ) | — | |||||||||||
iShares U.S. Preferred Stock ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (805,275 | ) | — | |||||||||||
iShares U.S. Real Estate ETF | Morgan Stanley | 0.88 | 5/21/2018 | Monthly | (142,128 | ) | — | |||||||||||
iShares U.S. Real Estate ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (142,128 | ) | — | |||||||||||
Materials Select Sector SPDR Fund | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (395,820 | ) | — | |||||||||||
Materials Select Sector SPDR Fund | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (395,820 | ) | — | |||||||||||
PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fund | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 50,900 | — | ||||||||||||
PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fund | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 50,900 | — | ||||||||||||
PowerShares DB Commodity Index Tracking Fund | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (719,082 | ) | — | |||||||||||
PowerShares DB Commodity Index Tracking Fund | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (719,082 | ) | — | |||||||||||
PowerShares DB Gold Fund | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 205,099 | — | ||||||||||||
PowerShares DB Gold Fund | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 205,099 | — | ||||||||||||
PowerShares DB U.S. Dollar Index Bullish Fund | Morgan Stanley | (1.00 | ) | 5/21/2018 | Monthly | (4,803,245 | ) | — | ||||||||||
PowerShares DB U.S. Dollar Index Bullish Fund | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (4,803,245 | ) | — | |||||||||||
PowerShares Emerging Markets Sovereign Debt Portfolio | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 351,479 | — | ||||||||||||
PowerShares Emerging Markets Sovereign Debt Portfolio | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 351,479 | — | ||||||||||||
PowerShares KBW Bank Portfolio | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (245,221 | ) | — | |||||||||||
PowerShares KBW Bank Portfolio | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (245,221 | ) | — | |||||||||||
PowerShares Preferred Portfolio | Morgan Stanley | (0.25 | ) | 5/21/2018 | Monthly | (248,716 | ) | — | ||||||||||
PowerShares Preferred Portfolio | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (248,716 | ) | — | |||||||||||
PowerShares S&P 500 Low Volatility Portfolio | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (1,526,476 | ) | — | |||||||||||
PowerShares S&P 500 Low Volatility Portfolio | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (1,526,476 | ) | — | |||||||||||
PowerShares Senior Loan Portfolio | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 2,355,741 | — | ||||||||||||
PowerShares Senior Loan Portfolio | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 2,355,741 | — | ||||||||||||
PowerShares Treasury Collateral Portfolio ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 489,985 | — | ||||||||||||
PowerShares Treasury Collateral Portfolio ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 489,985 | — | ||||||||||||
Schwab Intermediate-Term U.S. Treasury ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 92,804 | — | ||||||||||||
Schwab Intermediate-Term U.S. Treasury ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 92,804 | — | ||||||||||||
Schwab U.S. Broad Market ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 203,743 | — | ||||||||||||
Schwab U.S. Broad Market ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 203,743 | — | ||||||||||||
Schwab U.S. Small-Cap ETF | Morgan Stanley | (2.45 | ) | 5/21/2018 | Monthly | (259,292 | ) | — | ||||||||||
Schwab U.S. Small-Cap ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (259,292 | ) | — | |||||||||||
SPDR Blackstone / GSO Senior Loan ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 738,309 | — | ||||||||||||
SPDR Blackstone / GSO Senior Loan ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 738,309 | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
April 30, 2018
Total Return Benchmark | Counterparties | Annual | Expiration | Payment | Notional | Value/ | ||||||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | $ | 3,295,440 | $ | — | ||||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 3,295,440 | — | ||||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 1,851,994 | — | ||||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 1,851,994 | — | ||||||||||||
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 101,018 | — | ||||||||||||
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 101,018 | — | ||||||||||||
SPDR Bloomberg Barclays High Yield Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 727,444 | — | ||||||||||||
SPDR Bloomberg Barclays High Yield Bond ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 727,444 | — | ||||||||||||
SPDR Bloomberg Barclays Short Term High Yield Bond ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (874,725 | ) | — | |||||||||||
SPDR Bloomberg Barclays Short Term High Yield Bond ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (874,725 | ) | — | |||||||||||
SPDR Dow Jones International Real Estate ETF | Morgan Stanley | 0.10 | 5/21/2018 | Monthly | (2,662,485 | ) | — | |||||||||||
SPDR Dow Jones International Real Estate ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (2,662,485 | ) | — | |||||||||||
SPDR Dow Jones REIT ETF | Morgan Stanley | (0.25 | ) | 5/21/2018 | Monthly | (91,060 | ) | — | ||||||||||
SPDR Dow Jones REIT ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (91,060 | ) | — | |||||||||||
SPDR Portfolio S&P 500 Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 46,153 | — | ||||||||||||
SPDR Portfolio S&P 500 Growth ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 46,153 | — | ||||||||||||
SPDR Portfolio Short Term Corporate Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 450,076 | — | ||||||||||||
SPDR Portfolio Short Term Corporate Bond ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 450,076 | — | ||||||||||||
SPDR S&P Bank ETF | Morgan Stanley | 1.00 | 5/21/2018 | Monthly | (875,654 | ) | — | |||||||||||
SPDR S&P Bank ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (875,654 | ) | — | |||||||||||
SPDR S&P China ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 497,047 | — | ||||||||||||
SPDR S&P Emerging Markets SmallCap ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 1,199,838 | — | ||||||||||||
SPDR S&P Emerging Markets SmallCap ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 1,199,838 | — | ||||||||||||
SPDR S&P International Small Cap ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 246,425 | — | ||||||||||||
SPDR S&P International Small Cap ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 246,425 | — | ||||||||||||
Technology Select Sector SPDR Fund | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 501,555 | — | ||||||||||||
VanEck Vectors High-Yield Municipal Index ETF | Morgan Stanley | (0.25 | ) | 5/21/2018 | Monthly | (1,118,662 | ) | — | ||||||||||
VanEck Vectors High-Yield Municipal Index ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (1,118,662 | ) | — | |||||||||||
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 807,750 | — | ||||||||||||
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 807,750 | — | ||||||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 1,294,300 | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
April 30, 2018
Total Return Benchmark | Counterparties | Annual | Expiration | Payment | Notional | Value/ | ||||||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | $ | 1,294,300 | $ | — | ||||||||||
Vanguard FTSE Developed Markets ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (950,779 | ) | — | |||||||||||
Vanguard FTSE Developed Markets ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (950,779 | ) | — | |||||||||||
Vanguard FTSE Emerging Markets ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (2,642,451 | ) | — | |||||||||||
Vanguard FTSE Emerging Markets ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (2,642,451 | ) | — | |||||||||||
Vanguard FTSE Europe ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (1,468,784 | ) | — | |||||||||||
Vanguard FTSE Europe ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (1,468,784 | ) | — | |||||||||||
Vanguard FTSE Pacific ETF | Morgan Stanley | 0.50 | 5/21/2018 | Monthly | (736,978 | ) | — | |||||||||||
Vanguard FTSE Pacific ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (736,978 | ) | — | |||||||||||
Vanguard Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 785,757 | — | ||||||||||||
Vanguard Growth ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 785,757 | — | ||||||||||||
Vanguard Intermediate-Term Corporate Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 2,429,275 | — | ||||||||||||
Vanguard Intermediate-Term Corporate Bond ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 2,429,275 | — | ||||||||||||
Vanguard Intermediate-Term Treasury ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 117,785 | — | ||||||||||||
Vanguard Intermediate-Term Treasury ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 117,766 | — | ||||||||||||
Vanguard Mortgage-Backed Securities ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (1,374,079 | ) | — | |||||||||||
Vanguard Mortgage-Backed Securities ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (1,374,079 | ) | — | |||||||||||
Vanguard Real Estate ETF | Morgan Stanley | 1.15 | 5/21/2018 | Monthly | (1,126,056 | ) | — | |||||||||||
Vanguard Real Estate ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (1,126,056 | ) | — | |||||||||||
Vanguard Short-Term Corporate Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 2,499,322 | — | ||||||||||||
Vanguard Short-Term Corporate Bond ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 2,499,322 | — | ||||||||||||
Vanguard Short-Term Inflation-Protected Securities ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 253,152 | — | ||||||||||||
Vanguard Short-Term Inflation-Protected Securities ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 253,152 | — | ||||||||||||
Vanguard Small-Cap ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (807,251 | ) | — | |||||||||||
Vanguard Small-Cap ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (807,251 | ) | — | |||||||||||
Vanguard Small-Cap Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 704,490 | — | ||||||||||||
Vanguard Small-Cap Growth ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 704,490 | — | ||||||||||||
Vanguard Small-Cap Value ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (2,245,363 | ) | — | |||||||||||
Vanguard Small-Cap Value ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (2,245,363 | ) | — | |||||||||||
Vanguard Total Stock Market ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 1,638,550 | — | ||||||||||||
Vanguard Total Stock Market ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 1,638,550 | — | ||||||||||||
Vanguard Value ETF | Morgan Stanley | 1.30 | 5/21/2018 | Monthly | (535,353 | ) | — | |||||||||||
Vanguard Value ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | (535,353 | ) | — | |||||||||||
WisdomTree Emerging Markets Local Debt Fund | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 32,020 | — | ||||||||||||
WisdomTree Emerging Markets Local Debt Fund | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 32,020 | — | ||||||||||||
Xtrackers MSCI EAFE Hedged Equity ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 1,333,133 | — | ||||||||||||
Xtrackers MSCI EAFE Hedged Equity ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 1,333,133 | — | ||||||||||||
Xtrackers MSCI Europe Hedged Equity ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 414,629 | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
April 30, 2018
Total Return Benchmark | Counterparties | Annual | Expiration | Payment | Notional | Value/ | ||||||||||||
Xtrackers MSCI Europe Hedged Equity ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | $ | 414,629 | $ | — | ||||||||||
Xtrackers MSCI Japan Hedged Equity ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 299,331 | — | ||||||||||||
Xtrackers MSCI Japan Hedged Equity ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 299,331 | — | ||||||||||||
Xtrackers USD High Yield Corporate Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 83,342 | — | ||||||||||||
Xtrackers USD High Yield Corporate Bond ETF | Bank of America Merrill Lynch | 2.38 | 3/29/2019 | Monthly | 83,342 | — | ||||||||||||
$ | — |
(d) | Reflects the value at reset date of April 30, 2018. |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(e) | ||||||||||||||||||
Exchange Traded Note | $ | 4,447,117 | $ | — | $ | — | $ | 4,447,117 | ||||||||||
Exchange Traded Vehicles | 13,364,640 | — | — | 13,364,640 | ||||||||||||||
Investment Companies | 1,106,112,793 | — | — | 1,106,112,793 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 1,614,375 | — | — | 1,614,375 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 140,959,766 | — | — | 140,959,766 | ||||||||||||||
Total Investments in Securities | 1,266,498,691 | — | — | 1,266,498,691 | ||||||||||||||
Other Financial Instruments:(f) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 1,266,498,691 | $ | — | $ | — | $ | 1,266,498,691 | ||||||||||
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. |
For the year ended April 30, 2018, the Fund did not have any transfers between any levels within the fair value hierarchy. (See Note 2)
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
April 30, 2018
Shares at | Value | Purchases | Sales | Net | Net | Income | Capital | Shares at | Value | |||||||||||||||||||||||||||||
CurrencyShares Euro Trust | 175,373 | 18,505,359 | 11,114,326 | (29,788,918 | ) | 518,113 | (348,880 | ) | — | — | — | — | ||||||||||||||||||||||||||
SPDR S&P Emerging Markets SmallCap ETF | 579,096 | 26,736,862 | 8,624,136 | (14,199,113 | ) | 670,846 | (111,323 | ) | 608,524 | — | — | — | ||||||||||||||||||||||||||
754,469 | 45,242,221 | 19,738,462 | (43,988,031 | ) | 1,188,959 | (460,203 | ) | 608,524 | — | — | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Macro Tracker ETF
April 30, 2018
Shares | Value | |||||||||
Exchange Traded Vehicles — 6.2% | ||||||||||
Gold Fund — 2.1% | ||||||||||
PowerShares DB Gold Fund*(a) | 3,295 | $ | 136,940 | |||||||
Japanese Yen Fund — 2.0% | ||||||||||
CurrencyShares Japanese Yen Trust* | 1,498 | 131,300 | ||||||||
U.S. Dollar Fund — 2.1% | ||||||||||
PowerShares DB U.S. Dollar Index Bullish Fund*(a) | 5,861 | 141,426 | ||||||||
Total Exchange Traded Vehicles | ||||||||||
(Cost $419,472) | 409,666 | |||||||||
Investment Companies — 93.8% | ||||||||||
BRIC Equity Funds — 9.3% | ||||||||||
iShares China Large-Cap ETF(a) | 6,483 | 304,247 | ||||||||
iShares MSCI China ETF(a) | 3,412 | 228,092 | ||||||||
SPDR S&P China ETF(a) | 727 | 78,778 | ||||||||
Total BRIC Equity Funds | 611,117 | |||||||||
Emerging Small Cap Equity Fund — 2.4% | ||||||||||
SPDR S&P Emerging Markets SmallCap ETF(a) | 3,164 | 161,744 | ||||||||
Europe Equity Fund — 4.4% | ||||||||||
Xtrackers MSCI Europe Hedged Equity ETF | 10,083 | 289,382 | ||||||||
International Bond Funds — 4.9% | ||||||||||
iShares JP Morgan USD Emerging Markets Bond ETF | 1,041 | 114,656 | ||||||||
PowerShares Emerging Markets Sovereign Debt Portfolio(a) | 1,725 | 47,386 | ||||||||
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | 581 | 17,047 | ||||||||
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 7,284 | 136,429 | ||||||||
WisdomTree Emerging Markets Local Debt Fund(a) | 144 | 5,424 | ||||||||
Total International Bond Funds | 320,942 | |||||||||
International Small Cap Equity Funds — 4.4% | ||||||||||
iShares MSCI EAFE Small-Cap ETF | 2,881 | 189,051 | ||||||||
SPDR S&P International Small Cap ETF | 461 | 16,407 | ||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | 721 | 86,239 | ||||||||
Total International Small Cap Equity Funds | 291,697 | |||||||||
Japan Equity Fund — 3.2% | ||||||||||
Xtrackers MSCI Japan Hedged Equity ETF | 4,800 | 208,896 | ||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
Treasury Inflation-Protected Securities Funds — 4.2% | ||||||||||
iShares 0-5 Year TIPS Bond ETF(a) | 643 | $ | 64,191 | |||||||
PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fund(a) | 686 | 35,521 | ||||||||
Vanguard Short-Term Inflation-Protected Securities ETF(a) | 3,614 | 176,688 | ||||||||
Total Treasury Inflation-Protected Securities Funds | 276,400 | |||||||||
U.S. Large Cap Core Fund — 0.9% | ||||||||||
Energy Select Sector SPDR Fund | 799 | 58,974 | ||||||||
U.S. Large Cap Growth Funds — 1.0% | ||||||||||
iShares Russell 1000 Growth ETF | 200 | 27,290 | ||||||||
iShares S&P 500 Growth ETF | 88 | 13,680 | ||||||||
SPDR Portfolio S&P 500 Growth ETF | 39 | 1,310 | ||||||||
Vanguard Growth ETF(a) | 157 | 22,336 | ||||||||
Total U.S. Large Cap Growth Funds | 64,616 | |||||||||
U.S. Large Cap Value Funds — 2.2% | ||||||||||
iShares Russell 1000 Value ETF | 493 | 59,328 | ||||||||
iShares S&P 500 Value ETF | 218 | 23,956 | ||||||||
SPDR Portfolio S&P 500 Value ETF | 76 | 2,245 | ||||||||
Vanguard Value ETF(a) | 566 | 58,643 | ||||||||
Total U.S. Large Cap Value Funds | 144,172 | |||||||||
U.S. Medium Term Treasury Bond Fund — 2.9% | ||||||||||
iShares 3-7 Year Treasury Bond ETF | 1,620 | 193,622 | ||||||||
U.S. Intermediate Term Treasury Bond Funds — 1.2% | ||||||||||
Schwab Intermediate-Term U.S. Treasury ETF(a) | 682 | 35,478 | ||||||||
Vanguard Intermediate-Term Treasury ETF | 723 | 45,050 | ||||||||
Total U.S. Intermediate Term Treasury Bond Funds | 80,528 | |||||||||
U.S. Multi Cap Funds — 10.0% | ||||||||||
iShares Core S&P Total U.S. Stock Market ETF | 1,198 | 72,659 | ||||||||
Schwab U.S. Broad Market ETF | 1,009 | 64,606 | ||||||||
Vanguard Total Stock Market ETF(a) | 3,811 | 519,554 | ||||||||
Total U.S. Multi Cap Funds | 656,819 | |||||||||
U.S. Short Term Treasury Bond Funds — 42.8% | ||||||||||
Goldman Sachs Treasury Access 0-1 Year ETF | 1,819 | 182,009 | ||||||||
iShares Short Treasury Bond ETF(a)(b) | 18,211 | 2,009,766 | ||||||||
PowerShares Treasury Collateral Portfolio ETF | 765 | 80,924 | ||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF(a) | 5,945 | 544,205 | ||||||||
Total U.S. Short Term Treasury Bond Funds | 2,816,904 | |||||||||
Total Investment Companies | ||||||||||
(Cost $5,998,699) | 6,175,813 |
See notes to financial statements.
Schedules of Investments — IQ Hedge Macro Tracker ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Short-Term Investment — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 1.58%(c) | ||||||||||
(Cost $4,416) | 4,416 | $ | 4,416 | |||||||
Investment of Cash Collateral For Securities Loaned — 28.9% | ||||||||||
Money Market Fund — 28.9% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 1.61%(c) | ||||||||||
(Cost $1,906,306) | 1,906,306 | 1,906,306 | ||||||||
Total Investments — 129.0% | ||||||||||
(Cost $8,328,893) | 8,496,201 | |||||||||
Other Assets and Liabilities, Net — (29.0)% | (1,908,542 | ) | ||||||||
Net Assets — 100.0% | $ | 6,587,659 |
* | 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 $2,096,159; total market value of collateral held by the Fund was $2,146,688. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $240,382. |
(b) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $261,553. |
(c) | Reflects the 1-day yield at April 30, 2018. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Macro Tracker ETF (continued)
April 30, 2018
Total Return Benchmark | Counterparty | Annual | Expiration | Payment | Notional | Value/ | ||||||||||||
CurrencyShares Euro Trust | Morgan Stanley | (1.50 | ) | 5/04/2020 | Monthly | $ | (29,474 | ) | $ | — | ||||||||
CurrencyShares Japanese Yen Trust | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 13,060 | — | ||||||||||||
Energy Select Sector SPDR Fund | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 5,831 | — | ||||||||||||
Goldman Sachs Treasury Access 0-1 Year ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 18,111 | — | ||||||||||||
iPath Bloomberg Commodity Index Total Return ETN | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (14,269 | ) | — | |||||||||||
iShares 0-5 Year TIPS Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 6,389 | — | ||||||||||||
iShares 3-7 Year Treasury Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 19,243 | — | ||||||||||||
iShares China Large-Cap ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 30,223 | — | ||||||||||||
iShares Core MSCI Emerging Markets ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (42,638 | ) | — | |||||||||||
iShares Core S&P Total U.S. Stock Market ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 7,217 | — | ||||||||||||
iShares Core U.S. Credit Bond ETF | Morgan Stanley | (5.00 | ) | 5/04/2020 | Monthly | (1,076 | ) | — | ||||||||||
iShares Edge MSCI Min Vol Emerging Markets ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (101,920 | ) | — | |||||||||||
iShares Europe ETF | Morgan Stanley | (2.50 | ) | 5/04/2020 | Monthly | (1,714 | ) | — | ||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | Morgan Stanley | 1.25 | 5/04/2020 | Monthly | (22,353 | ) | — | |||||||||||
iShares J.P. Morgan USD Emerging Markets Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 11,344 | — | ||||||||||||
iShares MSCI China ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 22,662 | — | ||||||||||||
iShares MSCI EAFE Small-Cap ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 18,767 | — | ||||||||||||
iShares MSCI Eurozone ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (8,777 | ) | — | |||||||||||
iShares MSCI Japan ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (43,297 | ) | — | |||||||||||
iShares Russell 1000 Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 2,729 | — | ||||||||||||
iShares Russell 1000 Value ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 5,897 | — | ||||||||||||
iShares Russell 2000 ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (62,248 | ) | — | |||||||||||
iShares S&P 500 Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 1,399 | — | ||||||||||||
iShares S&P 500 Value ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 2,418 | — | ||||||||||||
iShares Short Treasury Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 199,752 | — | ||||||||||||
iShares Silver Trust | Morgan Stanley | 0.75 | 5/04/2020 | Monthly | (18,856 | ) | — | |||||||||||
Materials Select Sector SPDR Fund | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (43,328 | ) | — | |||||||||||
PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fund | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 3,521 | — | ||||||||||||
PowerShares DB Commodity Index Tracking Fund | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (35,770 | ) | — | |||||||||||
PowerShares DB Gold Fund | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 13,590 | — | ||||||||||||
PowerShares DB U.S. Dollar Index Bullish Fund | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 14,068 | — | ||||||||||||
PowerShares Emerging Markets Sovereign Debt Portfolio | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 4,697 | — | ||||||||||||
PowerShares Treasury Collateral Portfolio ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 8,039 | — | ||||||||||||
Schwab Intermediate-Term U.S. Treasury ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 3,537 | — | ||||||||||||
Schwab U.S. Broad Market ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 6,403 | — | ||||||||||||
Schwab U.S. Small-Cap ETF | Morgan Stanley | (2.45 | ) | 5/04/2020 | Monthly | (10,299 | ) | — | ||||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 54,100 | — | ||||||||||||
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 1,702 | — | ||||||||||||
SPDR Dow Jones International Real Estate ETF | Morgan Stanley | 0.10 | 5/04/2020 | Monthly | (105,943 | ) | — | |||||||||||
SPDR Portfolio S&P 500 Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 134 | — | ||||||||||||
SPDR Portfolio S&P 500 Value ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 236 | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Macro Tracker ETF (continued)
April 30, 2018
Total Return Benchmark | Counterparty | Annual | Expiration | Payment | Notional | Value/ | ||||||||||||
SPDR S&P China ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | $ | 7,802 | $ | — | ||||||||||
SPDR S&P Emerging Markets SmallCap ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 16,052 | — | ||||||||||||
SPDR S&P International Small Cap ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 1,637 | — | ||||||||||||
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 13,561 | — | ||||||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 8,612 | — | ||||||||||||
Vanguard FTSE Emerging Markets ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (58,425 | ) | — | |||||||||||
Vanguard FTSE Europe ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (11,642 | ) | — | |||||||||||
Vanguard Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 2,276 | — | ||||||||||||
Vanguard Intermediate-Term Corporate Bond ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (13,053 | ) | — | |||||||||||
Vanguard Intermediate-Term Treasury ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 4,487 | — | ||||||||||||
Vanguard Short-Term Inflation-Protected Securities ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 17,552 | — | ||||||||||||
Vanguard Small-Cap ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (32,148 | ) | — | |||||||||||
Vanguard Total Stock Market ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 51,669 | — | ||||||||||||
Vanguard Value ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 5,802 | — | ||||||||||||
WisdomTree Emerging Markets Local Debt Fund | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 527 | — | ||||||||||||
Xtrackers MSCI Europe Hedged Equity ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 28,757 | — | ||||||||||||
Xtrackers MSCI Japan Hedged Equity ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 20,759 | — | ||||||||||||
$ | — |
(d) | Reflects the value at reset date of April 30, 2018. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Macro Tracker ETF (continued)
April 30, 2018
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(e) | ||||||||||||||||||
Exchange Traded Vehicles | $ | 409,666 | $ | — | $ | — | $ | 409,666 | ||||||||||
Investment Companies | 6,175,813 | — | — | 6,175,813 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 4,416 | — | — | 4,416 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 1,906,306 | — | — | 1,906,306 | ||||||||||||||
Total Investments in Securities | 8,496,201 | — | — | 8,496,201 | ||||||||||||||
Other Financial Instruments:(f) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 8,496,201 | $ | — | $ | — | $ | 8,496,201 |
| |||||||||
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.
Schedules of Investments — IQ Hedge Market Neutral Tracker ETF
April 30, 2018
Shares | Value | |||||||||
Exchange Traded Vehicle — 2.4% | ||||||||||
Euro Fund — 2.4% | ||||||||||
CurrencyShares Euro Trust*(a) (Cost $293,465) | 2,648 | $ | 307,274 | |||||||
Investment Companies — 97.6% | ||||||||||
Convertible Bond Fund — 1.4% | ||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF(a) | 3,473 | 178,651 | ||||||||
Floating Rate Funds — 19.7% | ||||||||||
iShares Floating Rate Bond ETF(a) | 21,238 | 1,083,775 | ||||||||
PowerShares Senior Loan Portfolio | 47,443 | 1,096,408 | ||||||||
SPDR Blackstone / GSO Senior Loan ETF | 7,244 | 343,655 | ||||||||
Total Floating Rate Funds | 2,523,838 | |||||||||
High Yield Corporate Bond Fund — 1.1% | ||||||||||
SPDR Bloomberg Barclays Short Term High Yield Bond ETF | 5,286 | 144,942 | ||||||||
High Yield Municipal Bond Fund — 1.4% | ||||||||||
VanEck Vectors High-Yield Municipal Index ETF(a) | 5,964 | 185,361 | ||||||||
International Small Cap Equity Funds — 6.4% | ||||||||||
iShares MSCI EAFE Small-Cap ETF | 8,071 | 529,619 | ||||||||
SPDR S&P International Small Cap ETF | 1,293 | 46,018 | ||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | 2,020 | 241,612 | ||||||||
Total International Small Cap Equity Funds | 817,249 | |||||||||
Investment Grade Corporate Bond Funds — 12.1% | ||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | 8,239 | 949,298 | ||||||||
iShares U.S. Credit Bond ETF | 416 | 44,766 | ||||||||
Vanguard Intermediate-Term Corporate Bond ETF | 6,642 | 555,736 | ||||||||
Total Investment Grade Corporate Bond Funds | 1,549,800 | |||||||||
Mortgage Backed Securities Funds — 7.3% | ||||||||||
iShares MBS ETF(a) | 6,312 | 655,249 | ||||||||
Vanguard Mortgage-Backed Securities ETF | 5,344 | 273,719 | ||||||||
Total Mortgage Backed Securities Funds | 928,968 | |||||||||
U.S. Large Cap Core Funds — 1.5% | ||||||||||
PowerShares KBW Bank Portfolio | 736 | 40,649 | ||||||||
SPDR S&P Bank ETF(a) | 3,025 | 145,079 | ||||||||
Total U.S. Large Cap Core Funds | 185,728 | |||||||||
U.S. Large Cap Growth Funds — 4.6% | ||||||||||
iShares Russell 1000 Growth ETF | 1,805 | 246,292 | ||||||||
iShares S&P 500 Growth ETF(a) | 798 | 124,049 | ||||||||
SPDR Portfolio S&P 500 Growth ETF | 353 | 11,858 | ||||||||
Vanguard Growth ETF(a) | 1,418 | 201,739 | ||||||||
Total U.S. Large Cap Growth Funds | 583,938 | |||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Preferred Funds — 0.3% | ||||||||||
iShares U.S. Preferred Stock ETF | 771 | $ | 28,627 | |||||||
PowerShares Preferred Portfolio | 615 | 8,844 | ||||||||
Total U.S. Preferred Funds | 37,471 | |||||||||
U.S. Short Term Treasury Bond Funds — 38.1% | ||||||||||
Goldman Sachs Treasury Access 0-1 Year ETF | 3,146 | 314,789 | ||||||||
iShares Short Treasury Bond ETF(b) | 31,491 | 3,475,347 | ||||||||
PowerShares Treasury Collateral Portfolio ETF | 1,323 | 139,950 | ||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | 10,281 | 941,123 | ||||||||
Total U.S. Short Term Treasury Bond Funds | 4,871,209 | |||||||||
U.S. Small Cap Growth Funds — 3.7% | ||||||||||
iShares Russell 2000 Growth ETF(a) | 1,049 | 200,348 | ||||||||
iShares S&P Small-Cap 600 Growth ETF(a) | 640 | 111,648 | ||||||||
Vanguard Small-Cap Growth ETF(a) | 980 | 161,083 | ||||||||
Total U.S. Small Cap Growth Funds | 473,079 | |||||||||
Total Investment Companies | ||||||||||
(Cost $12,341,029) | 12,480,234 | |||||||||
Short-Term Investment — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 1.58%(c) | ||||||||||
(Cost $17,484) | 17,484 | 17,484 | ||||||||
Investment of Cash Collateral For Securities Loaned — 14.9% | ||||||||||
Money Market Fund — 14.9% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 1.61%(c) | ||||||||||
(Cost $1,911,647) | 1,911,647 | 1,911,647 | ||||||||
Total Investments — 115.0% | ||||||||||
(Cost $14,563,625) | 14,716,639 | |||||||||
Other Assets and Liabilities, Net — (15.0)% | (1,926,348 | ) | ||||||||
Net Assets — 100.0% | $ | 12,790,291 |
* | 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 $1,865,262; total market value of collateral held by the Fund was $1,911,647. |
(b) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $522,334. |
(c) | Reflects the 1-day yield at April 30, 2018. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Market Neutral Tracker ETF (continued)
April 30, 2018
Total Return Benchmark | Counterparty | Annual | Expiration | Payment | Notional | Value/ | ||||||||||||
CurrencyShares Australian Dollar Trust | Morgan Stanley | (2.00 | ) | 5/04/2020 | Monthly | $ | (63,127 | ) | $ | — | ||||||||
CurrencyShares British Pound Sterling Trust | Morgan Stanley | (5.40 | ) | 5/04/2020 | Monthly | (43,309 | ) | — | ||||||||||
CurrencyShares Euro Trust | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 30,519 | — | ||||||||||||
Goldman Sachs Treasury Access 0-1 Year ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 31,219 | — | ||||||||||||
iShares 3-7 Year Treasury Bond ETF | Morgan Stanley | 0.75 | 5/04/2020 | Monthly | (87,489 | ) | — | |||||||||||
iShares Core MSCI Emerging Markets ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (26,094 | ) | — | |||||||||||
iShares Edge MSCI Min Vol USA ETF | Morgan Stanley | 1.00 | 5/04/2020 | Monthly | (113,864 | ) | — | |||||||||||
iShares Europe ETF | Morgan Stanley | (2.50 | ) | 5/04/2020 | Monthly | (12,043 | ) | — | ||||||||||
iShares Floating Rate Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 107,571 | — | ||||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF | Morgan Stanley | (1.13 | ) | 5/04/2020 | Monthly | (73,359 | ) | — | ||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 94,250 | — | ||||||||||||
iShares MBS ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 65,089 | — | ||||||||||||
iShares MSCI All Country Asia ex Japan ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (44,301 | ) | — | |||||||||||
iShares MSCI EAFE Small-Cap ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 52,562 | — | ||||||||||||
iShares MSCI Eurozone ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (61,796 | ) | — | |||||||||||
iShares MSCI Japan ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (61,671 | ) | — | |||||||||||
iShares MSCI Pacific ex Japan ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (23,801 | ) | — | |||||||||||
iShares Russell 1000 Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 24,425 | — | ||||||||||||
iShares Russell 1000 Value ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (10,710 | ) | — | |||||||||||
iShares Russell 2000 Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 19,863 | — | ||||||||||||
iShares Russell 2000 Value ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (56,976 | ) | — | |||||||||||
iShares S&P 500 Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 12,281 | — | ||||||||||||
iShares S&P 500 Value ETF | Morgan Stanley | 0.50 | 5/04/2020 | Monthly | (4,396 | ) | — | |||||||||||
iShares S&P Small-Cap 600 Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 11,165 | — | ||||||||||||
iShares S&P Small-Cap 600 Value ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (33,156 | ) | — | |||||||||||
iShares Short Treasury Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 344,985 | — | ||||||||||||
iShares U.S. Credit Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 4,412 | — | ||||||||||||
iShares U.S. Preferred Stock ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 2,859 | — | ||||||||||||
PowerShares DB U.S. Dollar Index Bullish Fund | Morgan Stanley | (1.00 | ) | 5/04/2020 | Monthly | (172,650 | ) | — | ||||||||||
PowerShares KBW Bank Portfolio | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 4,032 | — | ||||||||||||
PowerShares Preferred Portfolio | 2.20 | 5/21/2018 | Monthly | 877 | — | |||||||||||||
PowerShares S&P 500 Low Volatility Portfolio | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (54,848 | ) | — | |||||||||||
PowerShares Senior Loan Portfolio | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 108,825 | — | ||||||||||||
PowerShares Treasury Collateral Portfolio ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 13,858 | — | ||||||||||||
Schwab Intermediate-Term U.S. Treasury ETF | (12.70 | ) | 5/04/2020 | Monthly | (16,022 | ) | — | |||||||||||
SPDR Blackstone / GSO Senior Loan ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 34,109 | — | ||||||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 93,371 | — | ||||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 17,747 | — | ||||||||||||
SPDR Bloomberg Barclays High Yield Bond ETF | Morgan Stanley | (0.75 | ) | 5/04/2020 | Monthly | (46,380 | ) | — | ||||||||||
SPDR Bloomberg Barclays Short Term High Yield Bond ETF | 2.20 | 5/21/2018 | Monthly | 14,396 | — | |||||||||||||
SPDR Portfolio S&P 500 Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 1,142 | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Market Neutral Tracker ETF (continued)
April 30, 2018
Total Return Benchmark | Counterparty | Annual | Expiration | Payment | Notional | Value/ | ||||||||||||
SPDR S&P Bank ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | $ | 14,388 | $ | — | ||||||||||
SPDR S&P International Small Cap ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 4,556 | — | ||||||||||||
VanEck Vectors High-Yield Municipal Index ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 18,399 | — | ||||||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 23,922 | — | ||||||||||||
Vanguard FTSE Emerging Markets ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (35,767 | ) | — | |||||||||||
Vanguard FTSE Europe ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (81,675 | ) | — | |||||||||||
Vanguard FTSE Pacific ETF | Morgan Stanley | 0.50 | 5/04/2020 | Monthly | (44,213 | ) | — | |||||||||||
Vanguard Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 20,060 | — | ||||||||||||
Vanguard Intermediate-Term Corporate Bond ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 55,139 | — | ||||||||||||
Vanguard Intermediate-Term Treasury ETF | 1.30 | 5/04/2020 | Monthly | (20,316 | ) | — | ||||||||||||
Vanguard Mortgage-Backed Securities ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 27,147 | — | ||||||||||||
Vanguard Small-Cap Growth ETF | Morgan Stanley | 2.20 | 5/21/2018 | Monthly | 15,944 | — | ||||||||||||
Vanguard Small-Cap Value ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (80,693 | ) | — | |||||||||||
Vanguard Value ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (10,568 | ) | — | |||||||||||
Xtrackers USD High Yield Corporate Bond ETF | 1.30 | 5/04/2020 | Monthly | (5,299 | ) | — | ||||||||||||
$ | — |
(d) | Reflects the value at reset date of April 30, 2018. |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(e) | ||||||||||||||||||
Exchange Traded Vehicle | $ | 307,274 | $ | — | $ | — | $ | 307,274 | ||||||||||
Investment Companies | 12,480,234 | — | — | 12,480,234 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 17,484 | — | — | 17,484 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 1,911,647 | — | — | 1,911,647 | ||||||||||||||
Total Investments in Securities | $ | 14,716,639 | $ | — | $ | — | $ | 14,716,639 | ||||||||||
Other Financial Instruments:(f) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 14,716,639 | $ | — | $ | — | $ | 14,716,639 | ||||||||||
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. |
The Fund recognizes transfers between the levels as of the beginning of the period.
For the year ended April 30, 2018, the Fund did not have any transfers between any levels within the fair value hierarchy. (See Note 2)
See notes to financial statements.
Schedules of Investments — IQ Hedge Long/Short Tracker ETF
April 30, 2018
Shares | Value | |||||||||
Exchange Traded Note — 1.0% | ||||||||||
Volatility Fund — 1.0% | ||||||||||
iPATH S&P 500 VIX Short-Term Futures ETN*(a) (Cost $59,670) | 2,189 | $ | 90,998 | |||||||
Investment Companies — 99.0% | ||||||||||
Floating Rate Funds — 7.2% | ||||||||||
PowerShares Senior Loan Portfolio | 20,735 | 479,186 | ||||||||
SPDR Blackstone / GSO Senior Loan ETF | 3,166 | 150,195 | ||||||||
Total Floating Rate Funds | 629,381 | |||||||||
International Equity Core Fund — 11.3% | ||||||||||
Xtrackers MSCI EAFE Hedged Equity ETF | 31,131 | 993,079 | ||||||||
International Large Cap Growth Fund — 7.2% | ||||||||||
iShares MSCI EAFE Growth ETF | 7,835 | 633,381 | ||||||||
International Small Cap Equity Funds — 11.6% | ||||||||||
iShares MSCI EAFE Small-Cap ETF | 10,024 | 657,775 | ||||||||
SPDR S&P International Small Cap ETF | 1,606 | 57,158 | ||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | 2,509 | 300,101 | ||||||||
Total International Small Cap Equity Funds | 1,015,034 | |||||||||
Investment Grade Corporate Bond Funds — 26.5% | ||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | 12,326 | 1,420,202 | ||||||||
iShares U.S. Credit Bond ETF | 622 | 66,933 | ||||||||
Vanguard Intermediate-Term Corporate Bond ETF(a) | 9,937 | 831,429 | ||||||||
Total Investment Grade Corporate Bond Funds | 2,318,564 | |||||||||
U.S. Large Cap Core Funds — 15.8% | ||||||||||
Financial Select Sector SPDR Fund | 34,317 | 942,002 | ||||||||
First Trust Dow Jones Internet Index Fund* | 753 | 93,251 | ||||||||
Health Care Select Sector SPDR Fund | 1,965 | 161,641 | ||||||||
Technology Select Sector SPDR Fund(b) | 2,854 | 186,823 | ||||||||
Total U.S. Large Cap Core Funds | 1,383,717 | |||||||||
U.S. Large Cap Growth Funds — 6.5% | ||||||||||
iShares Russell 1000 Growth ETF | 1,773 | 241,926 | ||||||||
iShares S&P 500 Growth ETF | 783 | 121,717 | ||||||||
SPDR Portfolio S&P 500 Growth ETF | 346 | 11,622 | ||||||||
Vanguard Growth ETF | 1,393 | 198,182 | ||||||||
Total U.S. Large Cap Growth Funds | 573,447 | |||||||||
U.S. Preferred Funds — 2.1% | ||||||||||
iShares U.S. Preferred Stock ETF(a) | 3,786 | 140,574 | ||||||||
PowerShares Preferred Portfolio | 3,020 | 43,428 | ||||||||
Total U.S. Preferred Funds | 184,002 | |||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Short Term Treasury Bond Funds — 8.4% | ||||||||||
Goldman Sachs Treasury Access 0-1 Year ETF | 477 | $ | 47,729 | |||||||
iShares Short Treasury Bond ETF | 4,777 | 527,190 | ||||||||
PowerShares Treasury Collateral Portfolio ETF | 201 | 21,262 | ||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | 1,559 | 142,711 | ||||||||
Total U.S. Short Term Treasury Bond Funds | 738,892 | |||||||||
U.S. Small Cap Growth Funds — 2.4% | ||||||||||
iShares Russell 2000 Growth ETF(a) | 465 | 88,810 | ||||||||
iShares S&P Small-Cap 600 Growth ETF(a) | 284 | 49,544 | ||||||||
Vanguard Small-Cap Growth ETF(a) | 435 | 71,501 | ||||||||
Total U.S. Small Cap Growth Funds | 209,855 | |||||||||
Total Investment Companies | ||||||||||
(Cost $8,604,743) | 8,679,352 | |||||||||
Short-Term Investment — 0.2% | ||||||||||
Money Market Fund — 0.2% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 1.58%(c) | ||||||||||
(Cost $14,016) | 14,016 | 14,016 | ||||||||
Investment of Cash Collateral For Securities Loaned — 11.9% | ||||||||||
Money Market Fund — 11.9% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 1.61%(c) | ||||||||||
(Cost $1,040,224) | 1,040,224 | 1,040,224 | ||||||||
Total Investments — 112.1% | ||||||||||
(Cost $9,718,653) | 9,824,590 | |||||||||
Other Assets and Liabilities, Net — (12.1)% | (1,060,420 | ) | ||||||||
Net Assets — 100.0% | $ | 8,764,170 |
* | 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 $1,017,227; total market value of collateral held by the Fund was $1,040,224. |
(b) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $12,961. |
(c) | Reflects the 1-day yield at April 30, 2018. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Long/Short Tracker ETF (continued)
April 30, 2018
Total Return Benchmark | Counterparty | Annual | Expiration | Payment | Notional | Value/ | ||||||||||||
Energy Select Sector SPDR Fund | Morgan Stanley | 1.30 | 3/28/2019 | Monthly | $ | (160,020 | ) | $ | — | |||||||||
Financial Select Sector SPDR Fund | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 93,357 | — | ||||||||||||
First Trust Dow Jones Internet Index Fund | 2.20 | 3/28/2019 | Monthly | 9,288 | — | |||||||||||||
Goldman Sachs Treasury Access 0-1 Year ETF | 2.20 | 3/28/2019 | Monthly | 4,703 | — | |||||||||||||
Health Care Select Sector SPDR Fund | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 16,041 | — | ||||||||||||
iPATH S&P 500 VIX Short-Term Futures ETN | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 9,021 | — | ||||||||||||
iShares Core MSCI EAFE ETF | Morgan Stanley | 1.30 | 3/28/2019 | Monthly | (65,507 | ) | — | |||||||||||
iShares Core MSCI Emerging Markets ETF | Morgan Stanley | 1.30 | 3/28/2019 | Monthly | (59,977 | ) | — | |||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 140,684 | — | ||||||||||||
iShares MSCI EAFE Growth ETF | 2.20 | 3/28/2019 | Monthly | 62,732 | — | |||||||||||||
iShares MSCI EAFE Small-Cap ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 65,161 | — | ||||||||||||
iShares Russell 1000 Growth ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 24,015 | — | ||||||||||||
iShares Russell 1000 Value ETF | Morgan Stanley | 1.30 | 3/28/2019 | Monthly | (61,373 | ) | — | |||||||||||
iShares Russell 2000 Growth ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 8,786 | — | ||||||||||||
iShares Russell 2000 Value ETF | Morgan Stanley | 1.30 | 3/28/2019 | Monthly | (49,280 | ) | — | |||||||||||
iShares S&P 500 Growth ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 12,125 | — | ||||||||||||
iShares S&P 500 Value ETF | Morgan Stanley | 0.50 | 3/28/2019 | Monthly | (24,835 | ) | — | |||||||||||
iShares S&P Small-Cap 600 Growth ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 4,885 | — | ||||||||||||
iShares S&P Small-Cap 600 Value ETF | Morgan Stanley | 1.30 | 3/28/2019 | Monthly | (28,705 | ) | — | |||||||||||
iShares Short Treasury Bond ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 52,200 | — | ||||||||||||
iShares U.S. Credit Bond ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 6,672 | — | ||||||||||||
iShares U.S. Preferred Stock ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 13,924 | — | ||||||||||||
iShares U.S. Real Estate ETF | Morgan Stanley | 0.88 | 3/28/2019 | Monthly | (15,431 | ) | — | |||||||||||
PowerShares Preferred Portfolio | 2.20 | 3/28/2019 | Monthly | 4,300 | — | |||||||||||||
PowerShares Senior Loan Portfolio | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 47,491 | — | ||||||||||||
PowerShares Treasury Collateral Portfolio ETF | 2.20 | 3/28/2019 | Monthly | 2,116 | — | |||||||||||||
SPDR Blackstone / GSO Senior Loan ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 14,896 | — | ||||||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 14,189 | — | ||||||||||||
SPDR Dow Jones REIT ETF | Morgan Stanley | (0.25 | ) | 3/28/2019 | Monthly | (9,875 | ) | — | ||||||||||
SPDR Portfolio S&P 500 Growth ETF | 2.20 | 3/28/2019 | Monthly | 1,108 | — | |||||||||||||
SPDR S&P International Small Cap ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 5,659 | — | ||||||||||||
Technology Select Sector SPDR Fund | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 18,525 | — | ||||||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 29,783 | — | ||||||||||||
Vanguard FTSE Developed Markets ETF | Morgan Stanley | 1.30 | 3/28/2019 | Monthly | (82,450 | ) | — | |||||||||||
Vanguard FTSE Emerging Markets ETF | Morgan Stanley | 1.30 | 3/28/2019 | Monthly | (82,178 | ) | — | |||||||||||
Vanguard Growth ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 19,633 | — | ||||||||||||
Vanguard Intermediate-Term Corporate Bond ETF | 2.20 | 3/28/2019 | Monthly | 82,415 | — | |||||||||||||
Vanguard Real Estate ETF | Morgan Stanley | 1.15 | 3/28/2019 | Monthly | (122,048 | ) | — | |||||||||||
Vanguard Small-Cap Growth ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 7,068 | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Long/Short Tracker ETF (continued)
April 30, 2018
Total Return Benchmark | Counterparties | Annual | Expiration | Payment | Notional | Value/ | ||||||||||||
Vanguard Small-Cap Value ETF | Morgan Stanley | 1.30 | 3/28/2019 | Monthly | $ | (69,778 | ) | $ | — | |||||||||
Vanguard Value ETF | Morgan Stanley | 1.30 | 3/28/2019 | Monthly | (60,612 | ) | — | |||||||||||
Xtrackers MSCI EAFE Hedged Equity ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 98,412 | — | ||||||||||||
$ | — |
The total value of securities segregated as collateral for swap contracts with counterparty Morgan Stanley amounted to $12,961 at April 30, 2018. The Fund either receives from, or pays to the counterparty, the total return of the benchmark and the agreed-upon financing rate.
(d) | Reflects the value at reset date of April 30, 2018. |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(e) | ||||||||||||||||||
Exchange Traded Notes | $ | 90,998 | $ | — | $ | — | $ | 90,998 | ||||||||||
Investment Companies | 8,679,352 | — | — | 8,679,352 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 14,016 | — | — | 14,016 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 1,040,224 | — | — | 1,040,224 | ||||||||||||||
Total Investments in Securities | $ | 9,824,590 | $ | — | $ | — | $ | 9,824,590 | ||||||||||
Other Financial Instruments:(f) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 9,824,590 | $ | — | $ | — | $ | 9,824,590 | ||||||||||
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.
Schedules of Investments — IQ Hedge Event-Driven Tracker ETF
April 30, 2018
Shares | Value | |||||||||
Investment Companies — 99.7% | ||||||||||
Convertible Bond Fund — 21.9% | ||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF(a)(b) | 13,380 | $ | 688,267 | |||||||
Floating Rate Funds — 23.8% | ||||||||||
PowerShares Senior Loan Portfolio | 24,576 | 567,951 | ||||||||
SPDR Blackstone / GSO Senior Loan ETF(a) | 3,752 | 177,995 | ||||||||
Total Floating Rate Funds | 745,946 | |||||||||
High Yield Corporate Bond Funds — 16.9% | ||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF(a) | 3,626 | 310,748 | ||||||||
SPDR Bloomberg Barclays High Yield Bond ETF(a) | 5,478 | 196,496 | ||||||||
Xtrackers USD High Yield Corporate Bond ETF | 455 | 22,532 | ||||||||
Total High Yield Corporate Bond Funds | 529,776 | |||||||||
Investment Grade Corporate Bond Funds — 30.5% | ||||||||||
SPDR Portfolio Short Term Corporate Bond ETF | 4,838 | 145,963 | ||||||||
Vanguard Short-Term Corporate Bond ETF | 10,370 | 810,519 | ||||||||
Total Investment Grade Corporate Bond Funds | 956,482 | |||||||||
U.S. Short Term Treasury Bond Funds — 0.0%(c) | ||||||||||
Goldman Sachs Treasury Access 0-1 Year ETF | 1 | 100 | ||||||||
iShares Short Treasury Bond ETF | 12 | 1,324 | ||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | 4 | 366 | ||||||||
Total U.S. Short Term Treasury Bond Funds | 1,790 | |||||||||
Shares | Value | |||||||||
U.S. Small Cap Growth Funds — 6.6% | ||||||||||
iShares Russell 2000 Growth ETF(a) | 463 | $ | 88,428 | |||||||
iShares S&P Small-Cap 600 Growth ETF(a) | 282 | 49,195 | ||||||||
Vanguard Small-Cap Growth ETF(a) | 432 | 71,008 | ||||||||
Total U.S. Small Cap Growth Funds | 208,631 | |||||||||
Total Investment Companies | ||||||||||
(Cost $3,084,385) | 3,130,892 | |||||||||
Short-Term Investment — 0.3% | ||||||||||
Money Market Fund — 0.3% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 1.58%(d) | ||||||||||
(Cost $8,575) | 8,575 | 8,575 | ||||||||
Investment of Cash Collateral For Securities Loaned — 32.5% | ||||||||||
Money Market Fund — 32.5% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 1.61%(d) | ||||||||||
(Cost $1,021,562) | 1,021,562 | 1,021,562 | ||||||||
Total Investments — 132.5% | ||||||||||
(Cost $4,114,522) | 4,161,029 | |||||||||
Other Assets and Liabilities, Net — (32.5)% | (1,022,053 | ) | ||||||||
Net Assets — 100.0% | $ | 3,138,976 |
(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 $1,013,117; total market value of collateral held by the Fund was $1,037,887. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $16,325. |
(b) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $5,144. |
(c) | Less than 0.05%. |
(d) | Reflects the 1-day yield at April 30, 2018. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Event-Driven Tracker ETF (continued)
April 30, 2018
Total Return Benchmark | Counterparty | Annual | Expiration | Payment | Notional | Value/ | ||||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | $ | 9,341 | $ | — | ||||||||||
iShares Russell 2000 Growth ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 2,674 | — | ||||||||||||
iShares S&P Small-Cap 600 Growth ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 1,396 | — | ||||||||||||
iShares U.S. Preferred Stock ETF | Morgan Stanley | 0.35 | 3/28/2019 | Monthly | (71,030 | ) | — | |||||||||||
PowerShares Preferred Portfolio | Morgan Stanley | (0.25 | ) | 3/28/2019 | Monthly | (21,930 | ) | — | ||||||||||
PowerShares Senior Loan Portfolio | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 17,101 | — | ||||||||||||
SPDR Blackstone / GSO Senior Loan ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 5,361 | — | ||||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 20,730 | — | ||||||||||||
SPDR Bloomberg Barclays High Yield Bond ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 5,919 | — | ||||||||||||
SPDR Portfolio Short Term Corporate Bond ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 4,405 | — | ||||||||||||
Vanguard Short-Term Corporate Bond ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 24,386 | — | ||||||||||||
Vanguard Small-Cap Growth ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 2,137 | — | ||||||||||||
Xtrackers USD High Yield Corporate Bond ETF | Morgan Stanley | 2.20 | 3/28/2019 | Monthly | 693 | — | ||||||||||||
$ | — |
(e) | Reflects the value at reset date of April 30, 2018. |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(f) | ||||||||||||||||||
Investment Companies | $ | 3,130,892 | $ | — | $ | — | $ | 3,130,892 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 8,575 | — | — | 8,575 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 1,021,562 | — | — | 1,021,562 | ||||||||||||||
Total Investments in Securities | 4,161,029 | — | — | 4,161,029 | ||||||||||||||
Other Financial Instruments:(g) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 4,161,029 | $ | — | $ | — | $ | 4,161,029 | ||||||||||
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.
Schedules of Investments — IQ Global Resources ETF
April 30, 2018
Shares | Value | |||||||||
Common Stocks — 90.1% | ||||||||||
Argentina — 0.1% | ||||||||||
Adecoagro SA* | 15,786 | $ | 121,868 | |||||||
Australia — 5.1% | ||||||||||
Aurizon Holdings Ltd. | 378,210 | 1,284,713 | ||||||||
BHP Billiton Ltd. | 200,498 | 4,684,154 | ||||||||
Evolution Mining Ltd. | 160,256 | 388,311 | ||||||||
Fortescue Metals Group Ltd. | 194,384 | 669,092 | ||||||||
GrainCorp Ltd., Class A | 29,839 | 200,238 | ||||||||
Independence Group NL | 55,560 | 216,827 | ||||||||
Mineral Resources Ltd. | 11,718 | 159,216 | ||||||||
Newcrest Mining Ltd. | 72,660 | 1,160,022 | ||||||||
Northern Star Resources Ltd. | 57,108 | 275,460 | ||||||||
OceanaGold Corp. | 59,820 | 161,455 | ||||||||
OZ Minerals Ltd. | 18,647 | 130,200 | ||||||||
Regis Resources Ltd. | 47,748 | 170,121 | ||||||||
Sandfire Resources NL | 9,877 | 59,198 | ||||||||
Saracen Mineral Holdings Ltd.* | 77,434 | 110,473 | ||||||||
South32 Ltd. | 321,346 | 902,353 | ||||||||
St. Barbara Ltd. | 48,908 | 157,641 | ||||||||
Washington H Soul Pattinson & Co., Ltd.(a) | 45,494 | 666,561 | ||||||||
Whitehaven Coal Ltd. | 194,994 | 680,023 | ||||||||
Woodside Petroleum Ltd. | 5,629 | 136,904 | ||||||||
Total Australia | 12,212,962 | |||||||||
Canada — 6.6% | ||||||||||
Agnico Eagle Mines Ltd. | 22,418 | 944,845 | ||||||||
Alamos Gold, Inc., Class A(a) | 37,793 | 204,597 | ||||||||
B2Gold Corp.* | 93,744 | 269,835 | ||||||||
Barrick Gold Corp. | 112,866 | 1,521,373 | ||||||||
Canadian Natural Resources Ltd. | 7,312 | 264,201 | ||||||||
Canfor Corp.* | 32,762 | 753,658 | ||||||||
Centerra Gold, Inc.* | 28,108 | 171,900 | ||||||||
Detour Gold Corp.* | 17,195 | 124,474 | ||||||||
Enbridge, Inc. | 9,812 | 297,663 | ||||||||
First Majestic Silver Corp.*(a) | 16,071 | 104,553 | ||||||||
Goldcorp, Inc. | 83,564 | 1,110,754 | ||||||||
Hudbay Minerals, Inc. | 16,009 | 112,018 | ||||||||
IAMGOLD Corp.* | 44,626 | 244,374 | ||||||||
Imperial Oil Ltd. | 4,982 | 155,179 | ||||||||
Kinross Gold Corp.* | 118,884 | 460,902 | ||||||||
Kirkland Lake Gold Ltd. | 20,376 | 356,038 | ||||||||
Labrador Iron Ore Royalty Corp. | 3,951 | 67,342 | ||||||||
Lundin Mining Corp. | 45,526 | 301,861 | ||||||||
Maple Leaf Foods, Inc. | 64,813 | 1,564,774 | ||||||||
New Gold, Inc.* | 55,430 | 130,149 | ||||||||
Norbord, Inc. | 22,397 | 926,315 | ||||||||
Osisko Gold Royalties Ltd. | 15,324 | 149,779 | ||||||||
Pan American Silver Corp. | 14,771 | 238,511 | ||||||||
Pretium Resources, Inc.* | 17,917 | 120,756 | ||||||||
SEMAFO, Inc.* | 31,215 | 96,912 | ||||||||
SSR Mining, Inc.* | 11,576 | 118,744 | ||||||||
Stella-Jones, Inc. | 17,867 | 648,505 | ||||||||
Suncor Energy, Inc. | 9,804 | 375,503 | ||||||||
Teck Resources Ltd., Class B | 35,329 | 888,220 | ||||||||
TransCanada Corp. | 5,237 | 222,397 | ||||||||
West Fraser Timber Co. Ltd. | 19,287 | 1,308,468 | ||||||||
Westshore Terminals Investment Corp. | 13,365 | 231,134 | ||||||||
Wheaton Precious Metals Corp. | 42,817 | 890,107 | ||||||||
Yamana Gold, Inc. | 91,663 | 263,845 | ||||||||
Total Canada | 15,639,686 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Chile — 0.3% | ||||||||||
Antofagasta PLC | 61,706 | $ | 826,450 | |||||||
China — 10.2% | ||||||||||
Aluminum Corp. of China Ltd., Class H*(a) | 1,187,962 | 679,635 | ||||||||
Beijing Enterprises Water Group Ltd.*(a) | 2,969,971 | 1,740,753 | ||||||||
China Agri-Industries Holdings Ltd. | 684,536 | 288,703 | ||||||||
China Coal Energy Co., Ltd., Class H(a) | 4,325,022 | 1,884,697 | ||||||||
China Modern Dairy Holdings Ltd.*(a) | 3,129,112 | 534,261 | ||||||||
China Petroleum & Chemical Corp., Class H | 842,166 | 823,039 | ||||||||
China Resources Power Holdings Co., Ltd. | 914,196 | 1,761,239 | ||||||||
China Shenhua Energy Co., Ltd., Class H | 4,882,054 | 12,105,217 | ||||||||
CNOOC Ltd. | 268,493 | 450,211 | ||||||||
Jiangxi Copper Co., Ltd., Class H | 336,813 | 483,231 | ||||||||
MMG Ltd.* | 501,551 | 377,685 | ||||||||
PetroChina Co., Ltd., Class H | 1,862,106 | 1,373,758 | ||||||||
Shougang Fushan Resources Group Ltd.(a) | 1,007,579 | 250,346 | ||||||||
Yanzhou Coal Mining Co., Ltd., Class H | 1,316,164 | 1,670,308 | ||||||||
Total China | 24,423,083 | |||||||||
Denmark — 0.1% | ||||||||||
Orsted A/S‡ | 2,534 | 167,285 | ||||||||
Finland — 4.1% | ||||||||||
Stora Enso OYJ, Class R | 205,550 | 4,081,556 | ||||||||
UPM-Kymmene OYJ | 138,753 | 4,975,593 | ||||||||
Valmet OYJ | 38,958 | 741,808 | ||||||||
Total Finland | 9,798,957 | |||||||||
France — 3.5% | ||||||||||
Suez | 200,141 | 2,892,050 | ||||||||
TOTAL SA | 15,881 | 1,004,077 | ||||||||
Veolia Environnement SA* | 181,461 | 4,309,183 | ||||||||
Vilmorin & Cie SA | 2,723 | 192,790 | ||||||||
Total France | 8,398,100 | |||||||||
Germany — 0.8% | ||||||||||
Aurubis AG | 2,815 | 252,088 | ||||||||
BayWa AG | 4,578 | 160,127 | ||||||||
GEA Group AG | 25,168 | 985,522 | ||||||||
Innogy SE‡ | 3,352 | 147,942 | ||||||||
Suedzucker AG | 26,696 | 444,784 | ||||||||
Total Germany | 1,990,463 | |||||||||
Hong Kong — 0.5% | ||||||||||
C.P. Pokphand Co., Ltd. | 12,284,865 | 1,111,363 | ||||||||
Hong Kong & China Gas Co., Ltd. | 84,118 | 176,205 | ||||||||
Total Hong Kong | 1,287,568 | |||||||||
India — 0.1% | ||||||||||
Vedanta Resources PLC | 17,079 | 171,300 | ||||||||
Indonesia — 0.1% | ||||||||||
Sakari Resources Ltd.*(b)(c) | 240,456 | 214,241 | ||||||||
Ireland — 0.1% | ||||||||||
Greencore Group PLC | 92,365 | 201,960 | ||||||||
See notes to financial statements.
Schedules of Investments — IQ Global Resources ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Italy — 0.2% | ||||||||||
Eni SpA | 21,915 | $ | 428,939 | |||||||
Snam SpA | 21,106 | 101,618 | ||||||||
Total Italy | 530,557 | |||||||||
Japan — 5.1% | ||||||||||
Daio Paper Corp. | 38,823 | 544,604 | ||||||||
Doutor Nichires Holdings Co. Ltd. | 6,753 | 141,201 | ||||||||
Dowa Holdings Co., Ltd. | 3,960 | 149,461 | ||||||||
Fuji Oil Holdings, Inc. | 11,284 | 362,470 | ||||||||
Fujicco Co. Ltd. | 4,669 | 107,525 | ||||||||
Hokuto Corp. | 4,451 | 78,587 | ||||||||
Inpex Corp. | 8,599 | 110,213 | ||||||||
Itoham Yonekyu Holdings, Inc. | 151,683 | 1,379,251 | ||||||||
Kurita Water Industries Ltd. | 37,397 | 1,213,245 | ||||||||
Mitsui Mining & Smelting Co., Ltd. | 3,660 | 155,698 | ||||||||
Mitsui Sugar Co., Ltd. | 3,780 | 151,304 | ||||||||
NH Foods Ltd. | 54,936 | 2,402,273 | ||||||||
Nichirei Corp. | 18,270 | 528,440 | ||||||||
Nippon Coke & Engineering Co. Ltd. | 57,596 | 61,583 | ||||||||
Nippon Flour Mills Co., Ltd. | 10,611 | 173,286 | ||||||||
Nippon Paper Industries Co., Ltd. | 30,043 | 575,738 | ||||||||
Nisshin Oillio Group Ltd. (The) | 4,625 | 133,139 | ||||||||
Nisshin Seifun Group, Inc. | 39,809 | 870,578 | ||||||||
Pacific Metals Co., Ltd.*(a) | 1,251 | 44,015 | ||||||||
Prima Meat Packers Ltd. | 127,923 | 782,093 | ||||||||
S Foods, Inc. | 16,451 | 692,318 | ||||||||
Sumitomo Metal Mining Co., Ltd. | 18,177 | 780,403 | ||||||||
UACJ Corp.(a) | 3,087 | 80,373 | ||||||||
Yamazaki Baking Co., Ltd. | 28,591 | 626,559 | ||||||||
Total Japan | 12,144,357 | |||||||||
Jersey — 0.4% | ||||||||||
Centamin PLC | 109,369 | 236,127 | ||||||||
Randgold Resources Ltd. | 8,963 | 724,416 | ||||||||
Total Jersey | 960,543 | |||||||||
Kazakhstan — 0.1% | ||||||||||
KAZ Minerals PLC* | 27,968 | 354,554 | ||||||||
Mexico — 0.5% | ||||||||||
Fresnillo PLC | 69,952 | 1,228,442 | ||||||||
Monaco — 0.1% | ||||||||||
Endeavour Mining Corp.* | 9,741 | 166,485 | ||||||||
Netherlands — 1.1% | ||||||||||
ForFarmers NV | 54,375 | 764,700 | ||||||||
Royal Dutch Shell PLC, Class B | 49,771 | 1,783,382 | ||||||||
Total Netherlands | 2,548,082 | |||||||||
Norway — 1.2% | ||||||||||
Norsk Hydro ASA | 129,331 | 808,168 | ||||||||
Statoil ASA(a) | 20,104 | 515,706 | ||||||||
Yara International ASA | 35,674 | 1,509,591 | ||||||||
Total Norway | 2,833,465 | |||||||||
Peru — 1.1% | ||||||||||
Hochschild Mining PLC | 48,308 | 139,661 | ||||||||
Southern Copper Corp. | 48,746 | 2,574,276 | ||||||||
Total Peru | 2,713,937 | |||||||||
Portugal — 0.5% | ||||||||||
Navigator Co. SA (The) | 186,525 | 1,090,739 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Russia — 0.4% | ||||||||||
Evraz PLC | 89,636 | $ | 565,694 | |||||||
Polymetal International PLC | 40,843 | 410,325 | ||||||||
Total Russia | 976,019 | |||||||||
Singapore — 1.5% | ||||||||||
First Resources Ltd. | 206,554 | 263,643 | ||||||||
Golden Agri-Resources Ltd. | 1,674,053 | 436,198 | ||||||||
Olam International Ltd. | 426,436 | 734,318 | ||||||||
Wilmar International Ltd. | 834,776 | 2,055,338 | ||||||||
Total Singapore | 3,489,497 | |||||||||
Spain — 0.3% | ||||||||||
Ebro Foods SA | 20,116 | 486,083 | ||||||||
Gas Natural SDG SA | 6,034 | 152,439 | ||||||||
Repsol SA | 9,383 | 179,684 | ||||||||
Total Spain | 818,206 | |||||||||
Sweden — 1.5% | ||||||||||
AAK AB | 5,541 | 491,167 | ||||||||
Boliden AB | 17,154 | 598,026 | ||||||||
Holmen AB, B Shares | 44,420 | 1,100,466 | ||||||||
Sandvik AB | 78,677 | 1,349,828 | ||||||||
Total Sweden | 3,539,487 | |||||||||
Switzerland — 2.2% | ||||||||||
Bell Food Group AG | 2,050 | 807,657 | ||||||||
Ferrexpo PLC | 36,844 | 119,307 | ||||||||
Glencore PLC* | 902,869 | 4,361,187 | ||||||||
Total Switzerland | 5,288,151 | |||||||||
United Kingdom — 8.0% | ||||||||||
Acacia Mining PLC(a) | 38,930 | 77,213 | ||||||||
Anglo American PLC(a) | 87,919 | 2,070,002 | ||||||||
BP PLC | 120,306 | 891,484 | ||||||||
Cranswick PLC | 26,068 | 1,046,265 | ||||||||
Johnson Matthey PLC | 12,115 | 549,656 | ||||||||
Pennon Group PLC | 135,194 | 1,288,942 | ||||||||
Pentair PLC | 56,638 | 3,810,605 | ||||||||
Rio Tinto PLC | 83,262 | 4,525,308 | ||||||||
Severn Trent PLC | 76,100 | 2,033,437 | ||||||||
Tate & Lyle PLC | 60,883 | 481,843 | ||||||||
United Utilities Group PLC | 219,633 | 2,248,265 | ||||||||
Total United Kingdom | 19,023,020 | |||||||||
United States — 34.0% | ||||||||||
Alcoa Corp.* | 11,596 | 593,715 | ||||||||
Allegheny Technologies, Inc.*(a) | 7,830 | 208,043 | ||||||||
American Water Works Co., Inc. | 57,011 | 4,936,012 | ||||||||
Anadarko Petroleum Corp. | 3,013 | 202,835 | ||||||||
Andersons, Inc. (The) | 3,670 | 119,825 | ||||||||
Aqua America, Inc.(a) | 56,697 | 1,992,900 | ||||||||
Arch Coal, Inc., Class A(a) | 3,941 | 318,551 | ||||||||
Archer-Daniels-Midland Co. | 72,066 | 3,270,355 | ||||||||
Bunge Ltd. | 18,107 | 1,307,869 | ||||||||
Century Aluminum Co.*(a) | 5,425 | 94,775 | ||||||||
CF Industries Holdings, Inc. | 29,955 | 1,162,254 | ||||||||
Chevron Corp. | 11,414 | 1,428,006 | ||||||||
Cleveland-Cliffs, Inc.*(a) | 18,914 | 140,342 | ||||||||
Cloud Peak Energy, Inc.*(a) | 15,096 | 48,156 | ||||||||
Coeur Mining, Inc.* | 17,851 | 135,132 | ||||||||
Conagra Brands, Inc. | 51,429 | 1,906,473 | ||||||||
Concho Resources, Inc.* | 854 | 134,257 | ||||||||
ConocoPhillips | 6,948 | 455,094 |
See notes to financial statements.
Schedules of Investments — IQ Global Resources ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
United States (continued) | ||||||||||
CONSOL Energy, Inc.*(a) | 5,245 | $ | 164,955 | |||||||
Continental Resources, Inc.* | 2,220 | 146,653 | ||||||||
Devon Energy Corp. | 3,080 | 111,896 | ||||||||
Domtar Corp. | 15,738 | 690,898 | ||||||||
Energy Transfer Partners LP | 7,003 | 126,194 | ||||||||
EOG Resources, Inc. | 3,411 | 403,078 | ||||||||
Exxon Mobil Corp. | 25,160 | 1,956,190 | ||||||||
Ferroglobe PLC* | 10,436 | 117,927 | ||||||||
Flowserve Corp.(a) | 41,417 | 1,839,329 | ||||||||
FMC Corp. | 17,421 | 1,388,976 | ||||||||
Freeport-McMoRan, Inc. | 89,614 | 1,363,029 | ||||||||
Fresh Del Monte Produce, Inc. | 6,324 | 310,825 | ||||||||
General Mills, Inc.(a) | 73,188 | 3,201,243 | ||||||||
Hain Celestial Group, Inc. (The)* | 13,272 | 386,613 | ||||||||
Halliburton Co. | 5,122 | 271,415 | ||||||||
Hecla Mining Co.(a) | 38,228 | 146,413 | ||||||||
Hormel Foods Corp.(a) | 264,816 | 9,599,580 | ||||||||
IDEX Corp.(a) | 24,349 | 3,254,487 | ||||||||
Ingredion, Inc. | 9,344 | 1,131,465 | ||||||||
JM Smucker Co. (The) | 14,452 | 1,648,684 | ||||||||
KapStone Paper and Packaging Corp. | 25,278 | 870,069 | ||||||||
Kellogg Co.(a) | 44,444 | 2,617,752 | ||||||||
Kinder Morgan, Inc. | 13,240 | 209,457 | ||||||||
Lamb Weston Holdings, Inc. | 19,015 | 1,242,060 | ||||||||
Louisiana-Pacific Corp. | 37,120 | 1,051,610 | ||||||||
Marathon Petroleum Corp. | 2,831 | 212,070 | ||||||||
McEwen Mining, Inc.*(a) | 32,447 | 67,490 | ||||||||
Neenah, Inc.(a) | 4,299 | 335,322 | ||||||||
Newmont Mining Corp. | 50,816 | 1,996,561 | ||||||||
Occidental Petroleum Corp. | 4,586 | 354,314 | ||||||||
ONEOK, Inc. | 2,480 | 149,346 | ||||||||
Phillips 66 | 2,788 | 310,332 | ||||||||
Pilgrim’s Pride Corp.*(a) | 125,814 | 2,717,582 | ||||||||
Pioneer Natural Resources Co. | 1,004 | 202,356 | ||||||||
Post Holdings, Inc.*(a) | 8,882 | 706,741 | ||||||||
Rexnord Corp.* | 33,060 | 909,481 | ||||||||
Royal Gold, Inc. | 6,286 | 558,197 | ||||||||
Sanderson Farms, Inc. | 11,512 | 1,279,674 | ||||||||
Schlumberger Ltd. | 8,168 | 559,998 | ||||||||
Seaboard Corp. | 590 | 2,364,159 | ||||||||
SunCoke Energy, Inc.* | 12,229 | 140,511 | ||||||||
Tahoe Resources, Inc. | 31,071 | 156,815 | ||||||||
Tyson Foods, Inc., Class A | 144,063 | 10,098,816 | ||||||||
Valero Energy Corp. | 2,561 | 284,092 | ||||||||
Warrior Met Coal, Inc. | 10,116 | 235,197 | ||||||||
Watts Water Technologies, Inc., Class A | 8,733 | 650,609 | ||||||||
Williams Cos., Inc. (The) | 4,957 | 127,544 | ||||||||
Xylem, Inc. | 57,053 | 4,159,164 | ||||||||
Total United States | 81,281,763 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Zambia — 0.3% | ||||||||||
First Quantum Minerals Ltd. | 42,922 | $ | 619,413 | |||||||
Total Common Stocks | ||||||||||
(Cost $206,717,751) | 215,060,640 | |||||||||
Short-Term Investment — 9.3% | ||||||||||
Money Market Fund — 9.3% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 1.58%(d) | ||||||||||
(Cost $22,190,357) | 22,190,357 | 22,190,357 | ||||||||
Investment of Cash Collateral For Securities Loaned — 2.0% | ||||||||||
Money Market Fund — 2.0% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 1.61%(d) | ||||||||||
(Cost $4,839,696) | 4,839,696 | 4,839,696 | ||||||||
Total Investments — 101.4% | ||||||||||
(Cost $233,747,804) | 242,090,693 | |||||||||
Other Assets and Liabilities, Net — (1.4)% | (3,378,218 | ) | ||||||||
Net Assets — 100.0% | $ | 238,712,475 |
‡ | May be sold to institutional investors only under Rule 144A or securities offered pursuant to section 4 (a) (2) of the Securities Act of 1933, as amended. |
* | 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 $20,754,674; total market value of collateral held by the Fund was $21,571,329. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $16,731,633. |
(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, 2018, the total value of this security was $214,241. |
(c) | Security fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. The security is fair valued using significant unobservable inputs. The valuation technique can be found at the end of the Schedules of Investments for the Fund. |
(d) | Reflects the 1-day yield at April 30, 2018. |
See notes to financial statements.
Schedules of Investments — IQ Global Resources ETF (continued)
April 30, 2018
Total Return Benchmark | Counterparty | Annual | Expiration | Payment | Notional | Value/ | ||||||||||||
iShares MSCI EAFE ETF | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | $ | (24,046,295 | ) | $ | — | |||||||||
SPDR S&P 500 ETF Trust | Morgan Stanley | 1.30 | 5/04/2020 | Monthly | (23,808,545 | ) | — | |||||||||||
$ | — |
(e) | Reflects the value at reset date of April 30, 2018. |
See notes to financial statements.
Schedules of Investments — IQ Global Resources ETF (continued)
April 30, 2018
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(f) | ||||||||||||||||||
Common Stocks | ||||||||||||||||||
Argentina | $ | 121,868 | $ | — | $ | — | $ | 121,868 | ||||||||||
Australia | 12,212,962 | — | — | 12,212,962 | ||||||||||||||
Canada | 15,639,686 | — | — | 15,639,686 | ||||||||||||||
Chile | 826,450 | — | — | 826,450 | ||||||||||||||
China | 24,423,083 | — | — | 24,423,083 | ||||||||||||||
Denmark | 167,285 | — | — | 167,285 | ||||||||||||||
Finland | 9,798,957 | — | — | 9,798,957 | ||||||||||||||
France | 8,398,100 | — | — | 8,398,100 | ||||||||||||||
Germany | 1,990,463 | — | — | 1,990,463 | ||||||||||||||
Hong Kong | 1,287,568 | — | — | 1,287,568 | ||||||||||||||
India | 171,300 | — | — | 171,300 | ||||||||||||||
Indonesia | — | — | 214,241 | 214,241 | ||||||||||||||
Ireland | 201,960 | — | — | 201,960 | ||||||||||||||
Italy | 530,557 | — | — | 530,557 | ||||||||||||||
Japan | 12,144,357 | — | — | 12,144,357 | ||||||||||||||
Jersey | 960,543 | — | — | 960,543 | ||||||||||||||
Kazakhstan | 354,554 | — | — | 354,554 | ||||||||||||||
Mexico | 1,228,442 | — | — | 1,228,442 | ||||||||||||||
Monaco | 166,485 | — | — | 166,485 | ||||||||||||||
Netherlands | 2,548,082 | — | — | 2,548,082 | ||||||||||||||
Norway | 2,833,465 | — | — | 2,833,465 | ||||||||||||||
Peru | 2,713,937 | — | — | 2,713,937 | ||||||||||||||
Portugal | 1,090,739 | — | — | 1,090,739 | ||||||||||||||
Russia | 976,019 | — | — | 976,019 | ||||||||||||||
Singapore | 3,489,497 | — | — | 3,489,497 | ||||||||||||||
Spain | 818,206 | — | — | 818,206 | ||||||||||||||
Sweden | 3,539,487 | — | — | 3,539,487 | ||||||||||||||
Switzerland | 5,288,151 | — | — | 5,288,151 | ||||||||||||||
United Kingdom | 19,023,020 | — | — | 19,023,020 | ||||||||||||||
United States | 81,281,763 | — | — | 81,281,763 | ||||||||||||||
Zambia | 619,413 | — | — | 619,413 | ||||||||||||||
Total Common Stocks | 214,846,399 | — | 214,241 | (g) | 215,060,640 | |||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 22,190,357 | — | — | 22,190,357 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 4,839,696 | — | — | 4,839,696 | ||||||||||||||
Total Investments in Securities | $ | 241,876,452 | $ | — | $ | 214,241 | (g) | $ | 242,090,693 | |||||||||
Other Financial Instruments:(h) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 241,876,452 | $ | — | $ | 214,241 | (g) | $ | 242,090,693 | |||||||||
Liability Valuation Inputs | ||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(h) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Other Financial Instruments | $ | — | $ | — | $ | — | $ | — |
(f) | For a complete listing of investments and their countries, see the Schedules of Investments. |
(g) | The Level 3 security, valued at $214,241 has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees. |
(h) | Reflects the unrealized appreciation (depreciation) of the instruments. |
See notes to financial statements.
Schedules of Investments — IQ Global Resources ETF (continued)
April 30, 2018
Investments in Securities | Balance as of April 30, 2017 | 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, 2018 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2018(i) | ||||||||||||||||||||||||||||||
Common Stock: | ||||||||||||||||||||||||||||||||||||||||
Sakari Resources Ltd.(j) | $ | 182,256 | $ | — | $ | — | $ | 31,985 | $ | — | $ | — | $ | — | $ | — | $ | 214,241 | $ | 31,985 | ||||||||||||||||||||
Total | $ | 182,256 | $ | — | $ | — | $ | 31,985 | $ | — | $ | — | $ | — | $ | — | $ | 214,241 | $ | 31,985 |
Security Type | Fair Value | Valuation Technique | Unobservable Inputs | |||||||
Common Stock | $ | 214,241 | Peer Analysis | Comparable Securities |
(i) | Included in “Net change in unrealized appreciation (depreciation) on investments” in the Statements of Operations. |
(j) | 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.
Schedules of Investments — IQ Merger Arbitrage ETF
April 30, 2018
Shares | Value | |||||||||
Common Stocks — 75.1% | ||||||||||
Consumer Discretionary — 7.5% | ||||||||||
Capella Education Co. | 38,844 | $ | 3,563,937 | |||||||
Finish Line, Inc. (The), Class A | 518,855 | 7,040,862 | ||||||||
Mantra Group Ltd. | 631,746 | 1,883,649 | ||||||||
Pinnacle Entertainment, Inc.* | 138,346 | 4,443,674 | ||||||||
Tribune Media Co., Class A | 325,449 | 12,298,718 | ||||||||
UBM PLC(a) | 371,069 | 4,947,369 | ||||||||
Yoox Net-A-Porter Group SpA* | 115,144 | 5,271,139 | ||||||||
Total Consumer Discretionary | 39,449,348 | |||||||||
Consumer Staples — 6.8% | ||||||||||
Dr Pepper Snapple Group, Inc.(a) | 195,971 | 23,508,681 | ||||||||
Rite Aid Corp.*(a)(b) | 7,264,484 | 12,131,688 | ||||||||
Total Consumer Staples | 35,640,369 | |||||||||
Energy — 5.6% | ||||||||||
RSP Permian, Inc.* | 555,657 | 27,566,144 | ||||||||
Sakari Resources Ltd.*(c)(d) | 425 | 379 | ||||||||
Tallgrass Energy Partners LP | 39,816 | 1,640,817 | ||||||||
Total Energy | 29,207,340 | |||||||||
Financials — 2.5% | ||||||||||
Infinity Property & Casualty Corp. | 43,197 | 5,702,004 | ||||||||
NEX Group PLC | 399,499 | 5,436,469 | ||||||||
Stewart Information Services Corp. | 53,647 | 2,237,616 | ||||||||
Total Financials | 13,376,089 | |||||||||
Health Care — 13.9% | ||||||||||
Ablynx NV* | 93,318 | 5,048,799 | ||||||||
Aetna, Inc. | 162,911 | 29,169,215 | ||||||||
Express Scripts Holding Co.* | 423,525 | 32,060,843 | ||||||||
NxStage Medical, Inc.* | 194,381 | 5,174,422 | ||||||||
Sirtex Medical Ltd. | 71,586 | 1,503,300 | ||||||||
Total Health Care | 72,956,579 | |||||||||
Industrials — 17.4% | ||||||||||
Aecon Group, Inc. | 373,997 | 5,265,920 | ||||||||
Chicago Bridge & Iron Co. NV(a) | 598,512 | 9,037,531 | ||||||||
General Cable Corp. | 117,582 | 3,486,306 | ||||||||
Orbital ATK, Inc. | 213,379 | 28,247,112 | ||||||||
Orient Overseas International Ltd. | 323,859 | 3,082,505 | ||||||||
Rockwell Collins, Inc. | 317,682 | 42,105,572 | ||||||||
Total Industrials | 91,224,946 | |||||||||
Information Technology — 12.7% | ||||||||||
Blackhawk Network Holdings, Inc.* | 153,293 | 6,882,856 | ||||||||
Cavium, Inc.* | 233,722 | 17,531,487 | ||||||||
Fidessa Group PLC | 33,322 | 1,803,715 | ||||||||
Gemalto NV | 45,152 | 2,721,085 | ||||||||
Microsemi Corp.* | 294,267 | 19,036,132 | ||||||||
MuleSoft, Inc., Class A* | 315,424 | 14,061,602 | ||||||||
Oclaro, Inc.* | 620,820 | 4,916,894 | ||||||||
Total Information Technology | 66,953,771 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Materials — 2.3% | ||||||||||
A. Schulman, Inc.(a) | 135,314 | $ | 5,804,971 | |||||||
KapStone Paper and Packaging Corp. | 175,808 | 6,051,311 | ||||||||
Total Materials | 11,856,282 | |||||||||
Real Estate — 3.3% | ||||||||||
Canadian Real Estate Investment Trust(a) | 36,452 | 1,435,958 | ||||||||
GGP, Inc. | 487,358 | 9,742,286 | ||||||||
Intu Properties PLC | 919,397 | 2,473,145 | ||||||||
Westfield Corp. | 554,874 | 3,853,388 | ||||||||
Total Real Estate | 17,504,777 | |||||||||
Utilities — 3.1% | ||||||||||
Avista Corp. | 158,759 | 8,233,241 | ||||||||
SCANA Corp. | 219,744 | 8,079,987 | ||||||||
Total Utilities | 16,313,228 | |||||||||
Total Common Stocks | ||||||||||
(Cost $397,363,801) | 394,482,729 | |||||||||
Rights — 0.0%(e) | ||||||||||
Health Care — 0.0%(e) | ||||||||||
Dyax Corp. Contingent Value Right (CVR), expires 12/31/2019* (c)(d) (Cost $0) | 23,351 | 25,920 | ||||||||
Investment Companies — 5.7% | ||||||||||
U.S. Short Term Treasury Bond Funds — 5.7% | ||||||||||
iShares Short Treasury Bond ETF(a) | 213,020 | 23,508,887 | ||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF(a) | 68,480 | 6,268,659 | ||||||||
Total U.S. Short Term Treasury Bond Funds | 29,777,546 | |||||||||
Total Investment Companies | ||||||||||
(Cost $29,775,416) | 29,777,546 | |||||||||
Short-Term Investment — 19.6% | ||||||||||
Money Market Fund — 19.6% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 1.58%(f) | ||||||||||
(Cost $102,940,823) | 102,940,823 | 102,940,823 |
See notes to financial statements.
Schedules of Investments — IQ Merger Arbitrage ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Investment of Cash Collateral For Securities Loaned — 5.0% | ||||||||||
Money Market Fund — 5.0% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 1.61%(f) | ||||||||||
(Cost $26,324,770) | 26,324,770 | $ | 26,324,770 | |||||||
Total Investments — 105.4% | ||||||||||
(Cost $556,404,810) | 553,551,788 | |||||||||
Other Assets and Liabilities, Net — (5.4)% | (28,165,908 | ) | ||||||||
Net Assets — 100.0% | $ | 525,385,880 |
* | 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 $49,063,687; total market value of collateral held by the Fund was $49,913,465. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $23,588,695. |
(b) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $8,879,390. |
(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, 2018, the value of these securities was $26,299. |
(d) | Securities are fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. The securities are fair valued using significant unobservable inputs. The valuation technique can be found at the end of the Schedules of Investments for the Fund. |
(e) | Less than 0.05%. |
(f) | Reflects the 1-day yield at April 30, 2018. |
See notes to financial statements.
Schedules of Investments — IQ Merger Arbitrage ETF (continued)
April 30, 2018
Total Return Benchmark | Counterparty | Annual | Expiration | Payment | Notional | Value/ | ||||||||||||
Consumer Discretionary Select Sector SPDR Fund | Morgan Stanley | 1.37 | 1/10/2019 | Monthly | $ | (7,746,183 | ) | $ | — | |||||||||
Consumer Staples Select Sector SPDR Fund | Morgan Stanley | 1.30 | 1/10/2019 | Monthly | (21,071,552 | ) | — | |||||||||||
Energy Select Sector SPDR Fund | Morgan Stanley | 1.30 | 1/10/2019 | Monthly | (39,585,779 | ) | — | |||||||||||
Financial Select Sector SPDR Fund | Morgan Stanley | 1.30 | 1/10/2019 | Monthly | (6,881,742 | ) | — | |||||||||||
Health Care Select Sector SPDR Fund | Morgan Stanley | 1.30 | 1/10/2019 | Monthly | (14,547,352 | ) | — | |||||||||||
Industrial Select Sector SPDR Fund | Morgan Stanley | 1.30 | 1/10/2019 | Monthly | (13,873,823 | ) | — | |||||||||||
Technology Select Sector SPDR Fund | Morgan Stanley | 1.30 | 1/10/2019 | Monthly | (15,086,173 | ) | — | |||||||||||
Utilities Select Sector SPDR Fund | Morgan Stanley | 1.37 | 1/10/2019 | Monthly | (8,565,869 | ) | — | |||||||||||
Vanguard FTSE Europe ETF | Morgan Stanley | 1.30 | 1/10/2019 | Monthly | (9,273,825 | ) | — | |||||||||||
Vanguard Real Estate ETF | Morgan Stanley | 1.15 | 1/10/2019 | Monthly | (10,876,837 | ) | — | |||||||||||
$ | — |
(g) | Reflects the value at reset date of April 30, 2018. |
See notes to financial statements.
Schedules of Investments — IQ Merger Arbitrage ETF (continued)
April 30, 2018
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(h) | ||||||||||||||||||
Common Stocks | ||||||||||||||||||
Consumer Discretionary | $ | 39,449,348 | $ | — | $ | — | $ | 39,449,348 | ||||||||||
Consumer Staples | 35,640,369 | — | — | 35,640,369 | ||||||||||||||
Energy | 29,206,961 | — | 379 | 29,207,340 | ||||||||||||||
Financials | 13,376,089 | — | — | 13,376,089 | ||||||||||||||
Health Care | 72,956,579 | — | — | 72,956,579 | ||||||||||||||
Industrials | 91,224,946 | — | — | 91,224,946 | ||||||||||||||
Information Technology | 66,953,771 | — | — | 66,953,771 | ||||||||||||||
Materials | 11,856,282 | — | — | 11,856,282 | ||||||||||||||
Real Estate | 17,504,777 | — | — | 17,504,777 | ||||||||||||||
Utilities | 16,313,228 | — | — | 16,313,228 | ||||||||||||||
Total Common Stocks | 394,482,350 | — | 379 | (i) | 394,482,729 | |||||||||||||
Investment Companies | 29,777,546 | — | — | 29,777,546 | ||||||||||||||
Rights | — | — | 25,920 | (i) | 25,920 | |||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 102,940,823 | — | — | 102,940,823 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 26,324,770 | — | — | 26,324,770 | ||||||||||||||
Total Investments in Securities | $ | 553,525,489 | $ | — | $ | 26,299 | (i) | $ | 553,551,788 | |||||||||
Other Financial Instruments:(j) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 553,525,489 | $ | — | $ | 26,299 | (i) | $ | 553,551,788 | |||||||||
Liability Valuation Inputs | ||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(j) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Other Financial Instruments | $ | — | $ | — | $ | — | $ | — |
(h) | For a complete listing of investments and their industries, see the Schedules of Investments. |
(i) | The Level 3 securities, valued in total at $26,299 have been deemed illiquid and have been fair valued in good faith in accordance with procedures established by the Board of Trustees. |
(j) | Reflects the unrealized appreciation (depreciation) of the instruments. |
See notes to financial statements.
Schedules of Investments — IQ Merger Arbitrage ETF (continued)
April 30, 2018
Investments in Securities | Balance as of April 30, 2017 | 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, 2018 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2018(k) | ||||||||||||||||||||||||||||||
Common Stock: | ||||||||||||||||||||||||||||||||||||||||
Sakari Resources Ltd.(l) | $ | 322 | $ | — | $ | — | $ | 57 | $ | — | $ | — | $ | — | $ | — | $ | 379 | $ | 57 | ||||||||||||||||||||
Rights: | ||||||||||||||||||||||||||||||||||||||||
Dyax Corp. CVR(l) | 25,920 | — | — | — | — | — | — | — | 25,920 | — | ||||||||||||||||||||||||||||||
Total | $ | 26,242 | $ | — | $ | — | $ | 57 | $ | — | $ | — | $ | — | $ | — | $ | 26,299 | $ | 57 |
Security Type | Fair Value | Valuation Technique | Unobservable Inputs | |||||||
Common Stock | $ | 379 | Peer Analysis | Comparable Securities | ||||||
Rights | 25,920 | Issuer Specific Facts | Contingent Payment Terms |
(k) | Included in “Net change in unrealized appreciation (depreciation) on investments” in the Statements of Operations. |
(l) | 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.
Schedules of Investments — IQ Real Return ETF
April 30, 2018
Shares | Value | |||||||||
Exchange Traded Vehicles — 9.8% | ||||||||||
Gold Fund — 6.0% | ||||||||||
PowerShares DB Gold Fund* | 65,329 | $ | 2,715,073 | |||||||
Japanese Yen Fund — 3.8% | ||||||||||
CurrencyShares Japanese Yen Trust* | 19,813 | 1,736,610 | ||||||||
Total Exchange Traded Vehicles | ||||||||||
(Cost $4,522,132) | 4,451,683 | |||||||||
Investment Companies — 90.1% | ||||||||||
Emerging Equity Funds — 3.7% | ||||||||||
iShares MSCI Emerging Markets ETF | 13,939 | 654,018 | ||||||||
Vanguard FTSE Emerging Markets ETF | 22,768 | 1,040,042 | ||||||||
Total Emerging Equity Funds | 1,694,060 | |||||||||
U.S. Large Cap Core Funds — 10.0% | ||||||||||
iShares Core S&P 500 ETF(a) | 6,047 | 1,610,377 | ||||||||
SPDR S&P 500 ETF Trust(a) | 11,048 | 2,922,306 | ||||||||
Total U.S. Large Cap Core Funds | 4,532,683 | |||||||||
U.S. Long Term Treasury Bond Fund — 2.5% | ||||||||||
iShares 20+ Year Treasury Bond ETF | 9,381 | 1,117,277 | ||||||||
U.S. Medium Term Treasury Bond Funds — 7.5% | ||||||||||
iShares 3-7 Year Treasury Bond ETF | 9,445 | 1,128,866 | ||||||||
iShares 7-10 Year Treasury Bond ETF | 22,108 | 2,248,384 | ||||||||
Total U.S. Medium Term Treasury Bond Funds | 3,377,250 | |||||||||
U.S. Short Term Treasury Bond Funds — 59.1% | ||||||||||
Goldman Sachs Treasury Access 0-1 Year ETF | 11,218 | 1,122,473 | ||||||||
iShares Short Treasury Bond ETF | 103,001 | 11,367,190 | ||||||||
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund | 102,578 | 10,421,925 | ||||||||
PowerShares Treasury Collateral Portfolio ETF | 4,710 | 498,236 | ||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Short Term Treasury Bond Funds (continued) | ||||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF(a) | 36,661 | $ | 3,355,948 | |||||||
Total U.S. Short Term Treasury Bond Funds | 26,765,772 | |||||||||
U.S. Small Cap Core Fund — 7.3% | ||||||||||
iShares Russell 2000 ETF(a) | 21,681 | 3,324,131 | ||||||||
Total Investment Companies | ||||||||||
(Cost $40,847,629) | 40,811,173 | |||||||||
Short-Term Investment — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 1.58%(b) | ||||||||||
(Cost $65,052) | 65,052 | 65,052 | ||||||||
Investment of Cash Collateral For Securities Loaned — 4.6% | ||||||||||
Money Market Fund — 4.6% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 1.61%(b) | ||||||||||
(Cost $2,070,277) | 2,070,277 | 2,070,277 | ||||||||
Total Investments — 104.6% | ||||||||||
(Cost $47,505,090) | 47,398,185 | |||||||||
Other Assets and Liabilities, Net — (4.6)% | (2,078,753 | ) | ||||||||
Net Assets — 100.0% | $ | 45,319,432 |
* | 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 $7,265,170; total market value of collateral held by the Fund was $7,462,404. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $5,392,127. |
(b) | Reflects the 1-day yield at April 30, 2018. |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(c) | ||||||||||||||||||
Exchange Traded Vehicles | $ | 4,451,683 | $ | — | $ | — | $ | 4,451,683 | ||||||||||
Investment Companies | 40,811,173 | — | — | 40,811,173 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 65,052 | — | — | 65,052 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 2,070,277 | — | — | 2,070,277 | ||||||||||||||
Total Investments in Securities | $ | 47,398,185 | $ | — | $ | — | $ | 47,398,185 |
(c) | For a complete listing of investments and their industries, see the Schedules of Investments. |
See notes to financial statements.
Schedules of Investments — IQ Global Agribusiness Small Cap ETF
April 30, 2018
Shares | Value | |||||||||
Common Stocks — 99.5% | ||||||||||
Argentina — 1.6% | ||||||||||
Adecoagro SA* | 25,190 | $ | 194,467 | |||||||
Australia — 13.2% | ||||||||||
Australian Agricultural Co., Ltd.*(a) | 68,120 | 56,562 | ||||||||
Bega Cheese Ltd.(a) | 34,285 | 184,007 | ||||||||
Costa Group Holdings Ltd. | 59,524 | 326,204 | ||||||||
Elders Ltd. | 22,954 | 137,228 | ||||||||
GrainCorp Ltd., Class A | 46,992 | 315,345 | ||||||||
Inghams Group Ltd. | 40,400 | 114,360 | ||||||||
Nufarm Ltd. | 50,583 | 348,225 | ||||||||
Select Harvests Ltd.(a) | 18,917 | 89,247 | ||||||||
Total Australia | 1,571,178 | |||||||||
Canada — 3.6% | ||||||||||
Maple Leaf Foods, Inc. | 16,645 | 401,859 | ||||||||
Village Farms International, Inc.* | 6,570 | 26,137 | ||||||||
Total Canada | 427,996 | |||||||||
China — 2.0% | ||||||||||
China BlueChemical Ltd., Class H | 368,945 | 97,781 | ||||||||
China Huishan Dairy Holdings Co., Ltd.*(b)(c) | 938,079 | — | ||||||||
First Tractor Co., Ltd., Class H | 81,651 | 28,610 | ||||||||
Leyou Technologies Holdings Ltd.* | 263,388 | 67,456 | ||||||||
Sinofert Holdings Ltd.* | 367,170 | 43,977 | ||||||||
Total China | 237,824 | |||||||||
Indonesia — 5.0% | ||||||||||
PT Astra Agro Lestari Tbk | 81,457 | 74,797 | ||||||||
PT Charoen Pokphand Indonesia Tbk | 1,510,433 | 399,525 | ||||||||
PT Perusahaan Perkebunan London Sumatra Indonesia Tbk | 574,326 | 52,014 | ||||||||
PT Sawit Sumbermas Sarana Tbk | 669,678 | 63,057 | ||||||||
Total Indonesia | 589,393 | |||||||||
Japan — 39.4% | ||||||||||
Feed One Co. Ltd. | 26,769 | 59,691 | ||||||||
Fuji Oil Holdings, Inc. | 10,904 | 350,263 | ||||||||
Itoham Yonekyu Holdings, Inc. | 30,541 | 277,709 | ||||||||
Kumiai Chemical Industry Co., Ltd.(a) | 24,471 | 155,648 | ||||||||
Megmilk Snow Brand Co., Ltd. | 10,315 | 310,605 | ||||||||
Morinaga Milk Industry Co., Ltd. | 8,534 | 375,519 | ||||||||
NH Foods Ltd. | 21,678 | 947,948 | ||||||||
Nichirei Corp. | 25,334 | 732,759 | ||||||||
Nihon Nohyaku Co., Ltd.(a) | 10,050 | 65,301 | ||||||||
Nippon Soda Co. Ltd. | 26,764 | 154,090 | ||||||||
Nisshin Seifun Group, Inc. | 48,897 | 1,069,322 | ||||||||
Prima Meat Packers Ltd. | 29,530 | 180,540 | ||||||||
Total Japan | 4,679,395 | |||||||||
Netherlands — 4.3% | ||||||||||
ForFarmers NV | 7,161 | 100,708 | ||||||||
OCI NV* | 17,391 | 414,143 | ||||||||
Total Netherlands | 514,851 | |||||||||
Singapore — 5.8% | ||||||||||
First Resources Ltd. | 98,939 | 126,284 | ||||||||
Golden Agri-Resources Ltd. | 1,316,859 | 343,126 | ||||||||
Japfa Ltd. | 55,169 | 20,000 | ||||||||
Olam International Ltd. | 111,835 | 192,579 | ||||||||
Total Singapore | 681,989 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Spain — 2.1% | ||||||||||
Ebro Foods SA | 10,248 | $ | 247,633 | |||||||
Thailand — 1.7% | ||||||||||
GFPT PCL | 74,611 | 29,078 | ||||||||
Khon Kaen Sugar Industry PCL | 220,085 | 21,758 | ||||||||
Thai Vegetable Oil PCL | 113,736 | 127,034 | ||||||||
Thaifoods Group PCL | 172,755 | 26,931 | ||||||||
Total Thailand | 204,801 | |||||||||
United Kingdom — 1.9% | ||||||||||
Dairy Crest Group PLC | 29,226 | 218,380 | ||||||||
United States — 18.9% | ||||||||||
AGCO Corp. | 13,809 | 865,548 | ||||||||
Cal-Maine Foods, Inc.*(a) | 5,972 | 290,837 | ||||||||
CVR Partners LP(a) | 15,493 | 44,000 | ||||||||
Platform Specialty Products Corp.* | 46,272 | 465,959 | ||||||||
Sanderson Farms, Inc. | 4,199 | 466,761 | ||||||||
Titan International, Inc. | 10,420 | 107,326 | ||||||||
Total United States | 2,240,431 | |||||||||
Total Common Stocks | ||||||||||
(Cost $9,756,112) | 11,808,338 | |||||||||
Short-Term Investment — 0.2% | ||||||||||
Money Market Fund — 0.2% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 1.58%(d) | ||||||||||
(Cost $27,598) | 27,598 | 27,598 | ||||||||
Investment of Cash Collateral For Securities Loaned — 2.1% | ||||||||||
Money Market Fund — 2.1% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 1.61%(d) | ||||||||||
(Cost $246,668) | 246,668 | 246,668 | ||||||||
Total Investments — 101.8% | ||||||||||
(Cost $10,030,378) | 12,082,604 | |||||||||
Other Assets and Liabilities, Net — (1.8)% | (209,879 | ) | ||||||||
Net Assets — 100.0% | $ | 11,872,725 |
* | 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 $740,685; total market value of collateral held by the Fund was $785,159. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $538,491. |
(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, 2018, the value of this security was $ —. |
(c) | Security fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. The security is fair valued using significant unobservable inputs. The valuation technique can be found at the end of the Schedules of Investments for the Fund. |
(d) | Reflects the 1-day yield at April 30, 2018. |
See notes to financial statements.
Schedules of Investments — IQ Global Agribusiness Small Cap ETF (continued)
April 30, 2018
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(e) | ||||||||||||||||||
Common Stocks | $ | 11,808,338 | $ | — | $ | — | (f) | $ | 11,808,338 | |||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 27,598 | — | — | 27,598 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 246,668 | — | — | 246,668 | ||||||||||||||
Total Investments in Securities | $ | 12,082,604 | $ | — | $ | — | $ | 12,082,604 |
(e) | For a complete listing of investments and their countries, see the Schedules of Investments. |
(f) | The Level 3 security, valued at $ — 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, 2017 | 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, 2018 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2018(g) | ||||||||||||||||||||||||||||||
Common Stock: | ||||||||||||||||||||||||||||||||||||||||
China Huishan Dairy Holdings Co., Ltd.(h) | $ | — | (i) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | (i) | $ | — | ||||||||||||||||||
Total | $ | — | (i) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | (i) | $ | — | ||||||||||||||||||
Security Type | Fair Value | Valuation Technique | Unobservable Inputs | |||||||
Common Stock | $ | — | Issuer Specific facts | Company Announcements |
(g) | Included in “Net change in unrealized appreciation (depreciation) on investments” in the Statements 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 $ — . |
See notes to financial statements.
Schedules of Investments — IQ U.S. Real Estate Small Cap ETF
April 30, 2018
Shares | Value | |||||||||
Common Stocks — 100.0% | ||||||||||
Diversified REITs — 17.8% | ||||||||||
American Assets Trust, Inc. | 35,739 | $ | 1,199,758 | |||||||
Empire State Realty Trust, Inc., Class A | 150,530 | 2,622,233 | ||||||||
Granite Point Mortgage Trust, Inc. | 38,964 | 648,361 | ||||||||
Industrial Logistics Properties Trust | 18,611 | 381,898 | ||||||||
Investors Real Estate Trust(a) | 110,023 | 586,423 | ||||||||
Kennedy-Wilson Holdings, Inc.(a) | 118,628 | 2,248,001 | ||||||||
Monmouth Real Estate Investment Corp. | 66,883 | 1,045,381 | ||||||||
New Senior Investment Group, Inc.(a) | 74,503 | 642,216 | ||||||||
Preferred Apartment Communities, Inc., Class A | 35,976 | 529,207 | ||||||||
Redwood Trust, Inc. | 69,045 | 1,059,150 | ||||||||
Resource Capital Corp.(a) | 27,076 | 264,262 | ||||||||
Select Income REIT | 58,375 | 1,106,790 | ||||||||
Washington Real Estate Investment Trust(a) | 72,409 | 2,079,586 | ||||||||
Winthrop Realty Trust*(a)(b)(c) | 29,107 | 164,454 | ||||||||
Total Diversified REITs | 14,577,720 | |||||||||
Hotel REITs — 16.4% | ||||||||||
Ashford Hospitality Trust, Inc.(a) | 86,670 | 596,290 | ||||||||
Braemar Hotels & Resorts, Inc. | 28,130 | 292,552 | ||||||||
Chatham Lodging Trust | 41,682 | 794,042 | ||||||||
Chesapeake Lodging Trust | 54,706 | 1,616,015 | ||||||||
DiamondRock Hospitality Co. | 183,579 | 2,028,548 | ||||||||
Hersha Hospitality Trust(a) | 35,723 | 670,878 | ||||||||
MGM Growth Properties LLC, Class A(a) | 65,646 | 1,836,119 | ||||||||
Pebblebrook Hotel Trust(a) | 62,983 | 2,203,775 | ||||||||
Summit Hotel Properties, Inc.(a) | 95,105 | 1,377,120 | ||||||||
Xenia Hotels & Resorts, Inc. | 99,179 | 2,042,096 | ||||||||
Total Hotel REITs | 13,457,435 | |||||||||
Mortgage REITs — 13.1% | ||||||||||
AG Mortgage Investment Trust, Inc. | 25,806 | 456,250 | ||||||||
Anworth Mortgage Asset Corp. | 89,653 | 424,059 | ||||||||
Apollo Commercial Real Estate Finance, Inc.(a) | 99,223 | 1,787,998 | ||||||||
Arbor Realty Trust, Inc.(a) | 44,718 | 391,730 | ||||||||
ARMOUR Residential REIT, Inc. | 38,372 | 868,358 | ||||||||
Capstead Mortgage Corp. | 85,382 | 751,361 | ||||||||
Dynex Capital, Inc. | 49,619 | 326,493 | ||||||||
Front Yard Residential Corp.(a) | 42,532 | 417,664 | ||||||||
Invesco Mortgage Capital, Inc.(a) | 103,405 | 1,678,263 | ||||||||
iStar, Inc.*(a) | 59,998 | 608,380 | ||||||||
MTGE Investment Corp. | 42,011 | 762,500 | ||||||||
New York Mortgage Trust, Inc.(a) | 102,772 | 622,798 | ||||||||
Orchid Island Capital, Inc. | 47,661 | 333,627 | ||||||||
PennyMac Mortgage Investment Trust | 54,781 | 963,598 | ||||||||
Western Asset Mortgage Capital Corp.(a) | 37,463 | 372,757 | ||||||||
Total Mortgage REITs | 10,765,836 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Office REITs — 15.2% | ||||||||||
Brandywine Realty Trust | 164,053 | $ | 2,642,894 | |||||||
Easterly Government Properties, Inc.(a) | 41,562 | 856,593 | ||||||||
Franklin Street Properties Corp. | 95,768 | 745,075 | ||||||||
Global Net Lease, Inc. | 62,468 | 1,162,530 | ||||||||
Government Properties Income Trust | 90,456 | 1,129,795 | ||||||||
Lexington Realty Trust(a) | 200,796 | 1,614,400 | ||||||||
Mack-Cali Realty Corp. | 76,661 | 1,316,269 | ||||||||
Rexford Industrial Realty, Inc.(a) | 72,606 | 2,218,113 | ||||||||
Tier REIT, Inc. | 43,827 | 833,151 | ||||||||
Total Office REITs | 12,518,820 | |||||||||
Residential REITs — 4.0% | ||||||||||
Bluerock Residential Growth REIT, Inc.(a) | 22,474 | 202,041 | ||||||||
Education Realty Trust, Inc. | 70,141 | 2,308,341 | ||||||||
Independence Realty Trust, Inc.(a) | 78,558 | 738,445 | ||||||||
Total Residential REITs | 3,248,827 | |||||||||
Retail REITs — 16.5% | ||||||||||
Acadia Realty Trust(a) | 75,628 | 1,784,821 | ||||||||
CBL & Associates Properties, Inc.(a) | 156,122 | 652,590 | ||||||||
Cedar Realty Trust, Inc. | 81,676 | 317,720 | ||||||||
Four Corners Property Trust, Inc. | 56,783 | 1,286,703 | ||||||||
Getty Realty Corp. | 29,893 | 748,820 | ||||||||
Kite Realty Group Trust(a) | 77,325 | 1,138,224 | ||||||||
Pennsylvania Real Estate Investment Trust(a) | 63,395 | 613,663 | ||||||||
Ramco-Gershenson Properties Trust(a) | 71,217 | 851,043 | ||||||||
Retail Opportunity Investments Corp.(a) | 102,451 | 1,762,157 | ||||||||
Seritage Growth Properties, Class A(a) | 28,620 | 1,018,013 | ||||||||
Tanger Factory Outlet Centers, Inc. | 85,961 | 1,886,844 | ||||||||
Washington Prime Group, Inc.(a) | 172,051 | 1,113,170 | ||||||||
Whitestone REIT | 35,095 | 380,781 | ||||||||
Total Retail REITs | 13,554,549 | |||||||||
Specialized REITs — 17.0% | ||||||||||
CareTrust REIT, Inc. | 69,682 | 920,499 | ||||||||
InfraREIT, Inc.(a) | 36,231 | 772,083 | ||||||||
National Storage Affiliates Trust(a) | 46,420 | 1,221,774 | ||||||||
Physicians Realty Trust(a) | 168,227 | 2,513,311 | ||||||||
QTS Realty Trust, Inc., Class A(a) | 40,609 | 1,437,153 | ||||||||
Sabra Health Care REIT, Inc. | 163,724 | 2,997,787 | ||||||||
STAG Industrial, Inc. | 90,230 | 2,216,951 | ||||||||
Terreno Realty Corp. | 50,275 | 1,867,716 | ||||||||
Total Specialized REITs | 13,947,274 | |||||||||
Total Common Stocks | ||||||||||
(Cost $91,478,350) | 82,070,461 |
See notes to financial statements.
Schedules of Investments — IQ U.S. Real Estate Small Cap ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Short-Term Investment — 0.2% | ||||||||||
Money Market Fund — 0.2% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 1.58%(d) | ||||||||||
(Cost $199,787) | 199,787 | $ | 199,787 | |||||||
Investment of Cash Collateral For Securities Loaned — 4.7% | ||||||||||
Money Market Fund — 4.7% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 1.61%(d) | ||||||||||
(Cost $3,865,903) | 3,865,903 | 3,865,903 | ||||||||
Total Investments — 104.9% | ||||||||||
(Cost $95,544,040) | 86,136,151 | |||||||||
Other Assets and Liabilities, Net — (4.9)% | (4,046,996 | ) | ||||||||
Net Assets — 100.0% | $ | 82,089,155 |
* | 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 $22,892,721; total market value of collateral held by the Fund was $23,498,982. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $19,633,079. |
(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, 2018, the value of this security was $164,454. |
(c) | Security fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. The security is fair valued using significant unobservable inputs. The valuation technique can be found at the end of the Schedules of Investments for the Fund. |
(d) | Reflects the 1-day yield at April 30, 2018. |
See notes to financial statements.
Schedules of Investments — IQ U.S. Real Estate Small Cap ETF (continued)
April 30, 2018
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(e) | ||||||||||||||||||
Common Stocks | ||||||||||||||||||
Diversified REITs | $ | 14,413,266 | $ | — | $ | 164,454 | $ | 14,577,720 | ||||||||||
Hotel REITs | 13,457,435 | — | — | 13,457,435 | ||||||||||||||
Mortgage REITs | 10,765,836 | — | — | 10,765,836 | ||||||||||||||
Office REITs | 12,518,820 | — | — | 12,518,820 | ||||||||||||||
Residential REITs | 3,248,827 | — | — | 3,248,827 | ||||||||||||||
Retail REITs | 13,554,549 | — | — | 13,554,549 | ||||||||||||||
Specialized REITs | 13,947,274 | — | — | 13,947,274 | ||||||||||||||
Total Common Stocks | 81,906,007 | — | 164,454 | (f) | 82,070,461 | |||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 199,787 | — | — | 199,787 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 3,865,903 | — | — | 3,865,903 | ||||||||||||||
Total Investments in Securities | $ | 85,971,697 | $ | — | $ | 164,454 | (f) | $ | 86,136,151 |
(e) | For a complete listing of investments and their industries, see the Schedules of Investments. |
(f) | The Level 3 security, valued at $164,454, 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, 2017 | 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, 2018 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2018(g) | ||||||||||||||||||||||||||||||
Common Stock: | ||||||||||||||||||||||||||||||||||||||||
Winthrop Realty Trust(h) | $ | 227,908 | $ | — | $ | — | $ | (19,793 | ) | $ | — | $ | (43,661 | ) | $ | — | $ | — | $ | 164,454 | $ | (19,793 | ) | |||||||||||||||||
Total | $ | 227,908 | $ | — | $ | — | $ | (19,793 | ) | $ | — | $ | (43,661 | ) | $ | — | $ | — | $ | 164,454 | $ | (19,793 | ) | |||||||||||||||||
Security Type | Fair Value | Valuation Technique | Unobservable Inputs | |||||||
Common Stock | $ | 164,454 | Peer Analysis | Comparable Securities |
(g) | Included in “Net change in unrealized appreciation (depreciation) on investments” in the Statements 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. |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF
April 30, 2018
Shares | Value | |||||||||
Common Stocks — 98.7% | ||||||||||
Australia — 6.4% | ||||||||||
AGL Energy Ltd. | 26,530 | $ | 435,169 | |||||||
Alumina Ltd. | 123,186 | 245,486 | ||||||||
Amcor Ltd. | 45,762 | 474,281 | ||||||||
AMP Ltd. | 114,501 | 349,182 | ||||||||
APA Group | 48,723 | 307,101 | ||||||||
Aristocrat Leisure Ltd. | 27,103 | 548,702 | ||||||||
ASX Ltd. | 11,271 | 498,819 | ||||||||
Aurizon Holdings Ltd. | 87,158 | 296,060 | ||||||||
Australia & New Zealand Banking Group Ltd. | 101,243 | 2,051,200 | ||||||||
Bank of Queensland Ltd. | 25,016 | 189,966 | ||||||||
Bendigo & Adelaide Bank Ltd. | 27,166 | 217,776 | ||||||||
BHP Billiton Ltd. | 113,669 | 2,655,603 | ||||||||
BHP Billiton PLC | 71,954 | 1,530,194 | ||||||||
BlueScope Steel Ltd. | 21,017 | 261,926 | ||||||||
Boral Ltd. | 60,995 | 316,769 | ||||||||
Brambles Ltd. | 61,046 | 454,815 | ||||||||
Caltex Australia Ltd. | 11,634 | 272,415 | ||||||||
Challenger Ltd. | 33,725 | 274,939 | ||||||||
Coca-Cola Amatil Ltd. | 33,797 | 237,003 | ||||||||
Commonwealth Bank of Australia | 61,776 | 3,349,081 | ||||||||
Computershare Ltd. | 26,574 | 341,009 | ||||||||
CSL Ltd. | 17,032 | 2,190,251 | ||||||||
Dexus | 50,973 | 365,146 | ||||||||
Fortescue Metals Group Ltd. | 56,066 | 192,986 | ||||||||
Goodman Group | 73,245 | 501,471 | ||||||||
GPT Group (The) | 88,296 | 322,587 | ||||||||
Incitec Pivot Ltd. | 85,226 | 244,465 | ||||||||
Insurance Australia Group Ltd. | 101,935 | 607,870 | ||||||||
Macquarie Group Ltd. | 11,773 | 965,911 | ||||||||
Medibank Pvt Ltd. | 129,419 | 286,237 | ||||||||
Mirvac Group | 182,474 | 308,539 | ||||||||
National Australia Bank Ltd. | 95,118 | 2,078,604 | ||||||||
Newcrest Mining Ltd. | 28,050 | 447,820 | ||||||||
Oil Search Ltd. | 57,435 | 339,902 | ||||||||
Orica Ltd. | 18,068 | 271,136 | ||||||||
Origin Energy Ltd.* | 71,472 | 526,019 | ||||||||
QBE Insurance Group Ltd. | 53,554 | 402,635 | ||||||||
Ramsay Health Care Ltd. | 5,637 | 275,262 | ||||||||
Santos Ltd.* | 73,251 | 339,502 | ||||||||
Scentre Group | 193,111 | 587,452 | ||||||||
SEEK Ltd. | 20,226 | 296,649 | ||||||||
Sonic Healthcare Ltd. | 19,411 | 346,089 | ||||||||
South32 Ltd. | 192,815 | 541,433 | ||||||||
Stockland | 108,423 | 338,830 | ||||||||
Suncorp Group Ltd. | 53,387 | 564,994 | ||||||||
Sydney Airport | 54,214 | 291,784 | ||||||||
Telstra Corp. Ltd. | 143,091 | 343,479 | ||||||||
Transurban Group | 83,812 | 733,879 | ||||||||
Treasury Wine Estates Ltd. | 33,569 | 483,225 | ||||||||
Vicinity Centres | 133,491 | 245,868 | ||||||||
Wesfarmers Ltd. | 40,157 | 1,326,778 | ||||||||
Westfield Corp. | 75,914 | 527,194 | ||||||||
Westpac Banking Corp. | 117,540 | 2,541,085 | ||||||||
Woodside Petroleum Ltd. | 37,031 | 900,641 | ||||||||
Woolworths Group Ltd. | 48,906 | 1,028,499 | ||||||||
Total Australia | 37,071,718 | |||||||||
Austria — 0.3% | ||||||||||
ams AG* | 2,267 | 188,661 | ||||||||
ANDRITZ AG | 4,362 | 234,839 | ||||||||
Erste Group Bank AG* | 12,996 | 637,491 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Austria (continued) | ||||||||||
OMV AG | 7,911 | $ | 492,240 | |||||||
Total Austria | 1,553,231 | |||||||||
Belgium — 1.0% | ||||||||||
Ageas | 8,674 | 465,833 | ||||||||
Anheuser-Busch InBev SA/NV(a) | 26,351 | 2,633,578 | ||||||||
Groupe Bruxelles Lambert SA | 3,790 | 434,829 | ||||||||
KBC Group NV | 10,257 | 897,217 | ||||||||
Proximus SADP | 6,544 | 201,061 | ||||||||
Solvay SA | 3,099 | 432,831 | ||||||||
UCB SA | 5,128 | 388,839 | ||||||||
Umicore SA | 9,600 | 536,556 | ||||||||
Total Belgium | 5,990,744 | |||||||||
Chile — 0.0%(b) | ||||||||||
Antofagasta PLC | 13,367 | 179,029 | ||||||||
China — 0.3% | ||||||||||
AAC Technologies Holdings, Inc. | 25,842 | 376,357 | ||||||||
BOC Hong Kong Holdings Ltd. | 147,200 | 766,173 | ||||||||
China Mengniu Dairy Co., Ltd.* | 109,836 | 356,872 | ||||||||
Want Want China Holdings Ltd. | 294,364 | 261,423 | ||||||||
Total China | 1,760,825 | |||||||||
Denmark — 1.5% | ||||||||||
AP Moller — Maersk A/S, Class A | 167 | 256,323 | ||||||||
AP Moller — Maersk A/S, Class B | 240 | 387,478 | ||||||||
Carlsberg A/S, Class B(a) | 4,281 | 479,982 | ||||||||
Chr Hansen Holding A/S | 4,628 | 421,174 | ||||||||
Coloplast A/S, Class B | 6,088 | 517,317 | ||||||||
Danske Bank A/S | 24,979 | 872,512 | ||||||||
DSV A/S | 8,128 | 646,244 | ||||||||
Genmab A/S* | 2,266 | 460,061 | ||||||||
ISS A/S | 7,853 | 275,068 | ||||||||
Novo Nordisk A/S, Class B | 62,477 | 2,956,352 | ||||||||
Novozymes A/S, Class B | 8,739 | 413,096 | ||||||||
Orsted A/S‡ | 2,823 | 186,364 | ||||||||
Pandora A/S(a) | 3,936 | 438,748 | ||||||||
Vestas Wind Systems A/S | 7,759 | 503,540 | ||||||||
Total Denmark | 8,814,259 | |||||||||
Finland — 1.0% | ||||||||||
Elisa OYJ | 5,914 | 262,375 | ||||||||
Fortum OYJ | 16,387 | 378,354 | ||||||||
Kone OYJ, Class B | 13,602 | 678,064 | ||||||||
Neste OYJ | 4,506 | 380,546 | ||||||||
Nokia OYJ | 200,850 | 1,207,995 | ||||||||
Nokian Renkaat OYJ | 5,995 | 240,835 | ||||||||
Sampo OYJ, Class A | 16,790 | 907,784 | ||||||||
Stora Enso OYJ, Class R | 20,944 | 415,880 | ||||||||
UPM-Kymmene OYJ | 21,446 | 769,040 | ||||||||
Wartsila OYJ Abp | 20,163 | 429,970 | ||||||||
Total Finland | 5,670,843 | |||||||||
France — 9.6% | ||||||||||
Accor SA | 8,942 | 506,370 | ||||||||
Aeroports de Paris | 922 | 203,186 | ||||||||
Air Liquide SA | 15,387 | 2,008,710 | ||||||||
Airbus SE | 19,765 | 2,325,918 | ||||||||
Alstom SA | 7,077 | 322,437 | ||||||||
Arkema SA | 3,470 | 454,881 | ||||||||
Atos SE | 3,856 | 521,322 | ||||||||
AXA SA | 65,758 | 1,884,525 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
France (continued) | ||||||||||
BNP Paribas SA | 38,814 | $ | 3,000,345 | |||||||
Bouygues SA | 8,349 | 426,187 | ||||||||
Bureau Veritas SA | 12,289 | 321,450 | ||||||||
Capgemini SE | 5,602 | 771,590 | ||||||||
Carrefour SA | 20,557 | 423,098 | ||||||||
Cie de Saint-Gobain | 18,729 | 984,221 | ||||||||
Cie Generale des Etablissements Michelin | 7,061 | 994,299 | ||||||||
Credit Agricole SA | 39,632 | 652,890 | ||||||||
Danone SA | 19,891 | 1,612,327 | ||||||||
Dassault Systemes SE | 5,285 | 684,827 | ||||||||
Edenred | 12,566 | 432,694 | ||||||||
Electricite de France SA | 13,166 | 185,318 | ||||||||
Engie SA | 58,819 | 1,033,997 | ||||||||
Essilor International SA | 7,442 | 1,016,480 | ||||||||
Eutelsat Communications SA | 8,643 | 187,338 | ||||||||
Getlink | 19,686 | 278,042 | ||||||||
Hermes International | 1,195 | 773,587 | ||||||||
Iliad SA | 1,065 | 213,533 | ||||||||
Ingenico Group SA | 2,472 | 216,235 | ||||||||
Ipsen SA | 1,631 | 265,042 | ||||||||
JCDecaux SA | 4,194 | 150,090 | ||||||||
Kering | 2,926 | 1,695,478 | ||||||||
Klepierre SA | 8,473 | 347,242 | ||||||||
Legrand SA | 10,942 | 852,698 | ||||||||
L’Oreal SA | 8,495 | 2,040,927 | ||||||||
LVMH Moet Hennessy Louis Vuitton SE | 8,943 | 3,125,865 | ||||||||
Natixis SA | 31,666 | 260,619 | ||||||||
Orange SA | 66,658 | 1,217,304 | ||||||||
Orpea | 2,259 | 290,263 | ||||||||
Pernod Ricard SA | 7,320 | 1,216,495 | ||||||||
Peugeot SA | 15,777 | 389,241 | ||||||||
Publicis Groupe SA | 8,126 | 608,705 | ||||||||
Renault SA | 6,989 | 758,618 | ||||||||
Rexel SA | 15,672 | 243,313 | ||||||||
Rubis SCA | 3,700 | 288,337 | ||||||||
Safran SA | 10,462 | 1,231,912 | ||||||||
Sanofi | 39,003 | 3,100,248 | ||||||||
Schneider Electric SE* | 19,629 | 1,785,321 | ||||||||
SCOR SE | 7,773 | 316,018 | ||||||||
Societe Generale SA | 26,359 | 1,447,602 | ||||||||
Sodexo SA | 3,002 | 297,778 | ||||||||
Suez | 13,299 | 192,171 | ||||||||
Teleperformance | 2,395 | 384,564 | ||||||||
Thales SA | 4,109 | 521,272 | ||||||||
TOTAL SA | 78,948 | 4,991,493 | ||||||||
Ubisoft Entertainment SA* | 3,385 | 324,154 | ||||||||
Unibail-Rodamco SE | 3,697 | 888,429 | ||||||||
Valeo SA | 9,529 | 638,277 | ||||||||
Veolia Environnement SA* | 18,176 | 431,628 | ||||||||
Vinci SA | 17,164 | 1,723,289 | ||||||||
Vivendi SA | 40,390 | 1,068,214 | ||||||||
Total France | 55,528,414 | |||||||||
Germany — 8.3% | ||||||||||
adidas AG | 7,524 | 1,853,551 | ||||||||
Allianz SE | 15,402 | 3,655,862 | ||||||||
BASF SE | 33,141 | 3,456,333 | ||||||||
Bayer AG | 29,934 | 3,590,584 | ||||||||
Bayerische Motoren Werke AG | 12,254 | 1,369,044 | ||||||||
Beiersdorf AG | 4,341 | 492,591 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Germany (continued) | ||||||||||
Brenntag AG | 6,680 | $ | 383,523 | |||||||
Commerzbank AG* | 39,954 | 516,997 | ||||||||
Continental AG | 3,871 | 1,034,539 | ||||||||
Covestro AG‡ | 4,651 | 424,597 | ||||||||
Daimler AG | 33,862 | 2,679,739 | ||||||||
Delivery Hero AG‡* | 4,479 | 214,296 | ||||||||
Deutsche Bank AG | 68,638 | 942,564 | ||||||||
Deutsche Boerse AG | 6,759 | 911,758 | ||||||||
Deutsche Lufthansa AG | 6,944 | 202,780 | ||||||||
Deutsche Post AG | 33,241 | 1,449,839 | ||||||||
Deutsche Telekom AG | 111,607 | 1,954,557 | ||||||||
Deutsche Wohnen SE | 14,577 | 689,331 | ||||||||
E.ON SE | 74,279 | 814,156 | ||||||||
Fresenius Medical Care AG & Co. KGaA | 7,821 | 796,389 | ||||||||
Fresenius SE & Co. KGaA | 15,492 | 1,185,562 | ||||||||
GEA Group AG | 7,554 | 295,798 | ||||||||
Hannover Rueck SE | 2,513 | 354,022 | ||||||||
HeidelbergCement AG | 5,746 | 564,132 | ||||||||
Henkel AG & Co. KGaA | 3,756 | 448,127 | ||||||||
HUGO BOSS AG | 3,154 | 296,469 | ||||||||
Infineon Technologies AG | 45,039 | 1,157,974 | ||||||||
K+S AG | 8,149 | 240,332 | ||||||||
LANXESS AG | 4,474 | 332,762 | ||||||||
LEG Immobilien AG | 2,194 | 253,256 | ||||||||
Linde AG* | 6,870 | 1,527,676 | ||||||||
Merck KGaA | 4,790 | 470,043 | ||||||||
METRO AG | 7,008 | 101,732 | ||||||||
MTU Aero Engines AG | 2,715 | 469,077 | ||||||||
Muenchener Rueckversicherungs-Gesellschaft AG | 4,730 | 1,085,523 | ||||||||
OSRAM Licht AG | 4,876 | 281,422 | ||||||||
ProSiebenSat.1 Media SE | 9,702 | 352,831 | ||||||||
RWE AG | 20,026 | 480,884 | ||||||||
SAP SE | 32,605 | 3,640,732 | ||||||||
Siemens AG | 26,857 | 3,427,871 | ||||||||
Symrise AG | 5,660 | 458,857 | ||||||||
thyssenkrupp AG | 18,680 | 487,494 | ||||||||
TUI AG | 16,991 | 385,089 | ||||||||
United Internet AG | 5,088 | 330,603 | ||||||||
Volkswagen AG | 988 | 202,213 | ||||||||
Vonovia SE | 16,458 | 827,396 | ||||||||
Wirecard AG | 5,096 | 696,355 | ||||||||
Zalando SE‡* | 4,912 | 253,707 | ||||||||
Total Germany | 48,040,969 | |||||||||
Hong Kong — 3.2% | ||||||||||
AIA Group Ltd. | 436,814 | 3,934,985 | ||||||||
ASM Pacific Technology Ltd. | 13,367 | 183,944 | ||||||||
Bank of East Asia Ltd. (The) | 68,309 | 301,149 | ||||||||
CK Asset Holdings Ltd. | 102,858 | 891,853 | ||||||||
CK Hutchison Holdings Ltd. | 104,854 | 1,243,832 | ||||||||
CK Infrastructure Holdings Ltd. | 31,603 | 250,062 | ||||||||
CLP Holdings Ltd. | 66,630 | 691,918 | ||||||||
Galaxy Entertainment Group Ltd. | 83,752 | 740,597 | ||||||||
Hang Lung Properties Ltd. | 96,000 | 228,005 | ||||||||
Hang Seng Bank Ltd. | 30,343 | 771,696 | ||||||||
Henderson Land Development Co., Ltd. | 49,103 | 313,141 | ||||||||
Hong Kong & China Gas Co., Ltd. | 333,385 | 698,353 | ||||||||
Hong Kong Exchanges and Clearing Ltd. | 45,717 | 1,498,221 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Hong Kong (continued) | ||||||||||
Hongkong Land Holdings Ltd. | 51,626 | $ | 374,288 | |||||||
Hopewell Holdings Ltd. | 59,927 | 213,418 | ||||||||
Hysan Development Co., Ltd. | 50,627 | 295,766 | ||||||||
Jardine Matheson Holdings Ltd. | 7,842 | 476,245 | ||||||||
Jardine Strategic Holdings Ltd. | 7,620 | 289,560 | ||||||||
Link REIT | 92,017 | 816,027 | ||||||||
MTR Corp. Ltd. | 61,347 | 345,887 | ||||||||
New World Development Co., Ltd. | 260,432 | 384,928 | ||||||||
Power Assets Holdings Ltd. | 55,838 | 415,855 | ||||||||
Sino Land Co., Ltd. | 149,380 | 258,476 | ||||||||
Sun Hung Kai Properties Ltd. | 53,508 | 864,500 | ||||||||
Swire Pacific Ltd., Class A | 24,754 | 246,018 | ||||||||
Techtronic Industries Co., Ltd. | 61,494 | 363,562 | ||||||||
WH Group Ltd.‡ | 317,247 | 331,061 | ||||||||
Wharf Real Estate Investment Co., Ltd. | 49,340 | 370,918 | ||||||||
Wheelock & Co., Ltd. | 38,498 | 287,205 | ||||||||
Yue Yuen Industrial Holdings Ltd. | 44,511 | 126,757 | ||||||||
Total Hong Kong | 18,208,227 | |||||||||
Ireland — 0.6% | ||||||||||
AIB Group PLC | 24,344 | 145,356 | ||||||||
Bank of Ireland Group PLC | 34,145 | 307,342 | ||||||||
CRH PLC(c) | 28,899 | 1,027,342 | ||||||||
James Hardie Industries PLC | 19,251 | 343,091 | ||||||||
Kerry Group PLC, Class A(a) | 5,417 | 553,037 | ||||||||
Kingspan Group PLC | 5,791 | 262,376 | ||||||||
Paddy Power Betfair PLC | 3,123 | 308,845 | ||||||||
Smurfit Kappa Group PLC | 8,948 | 381,321 | ||||||||
Total Ireland | 3,328,710 | |||||||||
Israel — 0.4% | ||||||||||
Bank Hapoalim BM | 79,611 | 545,654 | ||||||||
Bank Leumi Le-Israel BM | 108,273 | 640,989 | ||||||||
Bezeq The Israeli Telecommunication Corp. Ltd. | 171,958 | 217,080 | ||||||||
Nice Ltd.* | 5,297 | 502,626 | ||||||||
Teva Pharmaceutical Industries Ltd. | 33,969 | 620,296 | ||||||||
Total Israel | 2,526,645 | |||||||||
Italy — 2.3% | ||||||||||
Assicurazioni Generali SpA(a) | 47,642 | 963,572 | ||||||||
Atlantia SpA | 22,813 | 757,973 | ||||||||
Banco BPM SpA* | 64,095 | 233,596 | ||||||||
Enel SpA | 283,551 | 1,804,744 | ||||||||
Eni SpA | 94,066 | 1,841,138 | ||||||||
Ferrari NV | 4,756 | 586,399 | ||||||||
Intesa Sanpaolo SpA | 507,312 | 1,935,033 | ||||||||
Leonardo SpA | 19,601 | 227,583 | ||||||||
Luxottica Group SpA | 6,457 | 403,798 | ||||||||
Mediobanca SpA | 34,800 | 423,186 | ||||||||
Prysmian SpA | 13,141 | 387,080 | ||||||||
Recordati SpA | 7,306 | 261,724 | ||||||||
Snam SpA | 100,019 | 481,559 | ||||||||
Telecom Italia SpA*(a) | 415,771 | 411,010 | ||||||||
Telecom Italia SpA-RSP | 237,608 | 204,686 | ||||||||
Terna Rete Elettrica Nazionale SpA | 71,038 | 427,166 | ||||||||
UniCredit SpA | 81,419 | 1,768,109 | ||||||||
Unione di Banche Italiane SpA(a) | 45,877 | 236,957 | ||||||||
Total Italy | 13,355,313 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Japan — 23.7% | ||||||||||
Aeon Co., Ltd. | 28,103 | $ | 561,803 | |||||||
Air Water, Inc. | 12,174 | 235,192 | ||||||||
Aisin Seiki Co., Ltd. | 7,348 | 398,877 | ||||||||
Ajinomoto Co., Inc. | 21,752 | 398,762 | ||||||||
Alfresa Holdings Corp. | 10,263 | 226,597 | ||||||||
Alps Electric Co., Ltd. | 8,325 | 184,721 | ||||||||
Amada Holdings Co., Ltd. | 22,939 | 276,086 | ||||||||
Aozora Bank Ltd. | 7,365 | 297,831 | ||||||||
Asahi Glass Co., Ltd. | 9,480 | 393,321 | ||||||||
Asahi Group Holdings Ltd. | 15,872 | 802,992 | ||||||||
Asahi Kasei Corp. | 55,050 | 758,400 | ||||||||
Asics Corp. | 9,199 | 174,186 | ||||||||
Astellas Pharma, Inc. | 78,942 | 1,158,249 | ||||||||
Bandai Namco Holdings, Inc. | 10,097 | 342,795 | ||||||||
Bridgestone Corp. | 23,594 | 989,471 | ||||||||
Brother Industries Ltd. | 12,955 | 278,931 | ||||||||
Canon, Inc. | 38,791 | 1,343,549 | ||||||||
Casio Computer Co., Ltd. | 11,429 | 170,560 | ||||||||
Central Japan Railway Co.(c) | 6,717 | 1,348,618 | ||||||||
Chiba Bank Ltd. (The) | 33,844 | 273,412 | ||||||||
Chubu Electric Power Co., Inc. | 26,610 | 416,689 | ||||||||
Chugai Pharmaceutical Co., Ltd. | 9,194 | 485,641 | ||||||||
Concordia Financial Group Ltd. | 54,063 | 314,719 | ||||||||
Credit Saison Co., Ltd. | 9,505 | 170,512 | ||||||||
Dai Nippon Printing Co., Ltd. | 14,989 | 322,998 | ||||||||
Daicel Corp. | 17,429 | 201,646 | ||||||||
Daifuku Co., Ltd. | 3,569 | 191,782 | ||||||||
Dai-ichi Life Holdings, Inc. | 42,200 | 838,408 | ||||||||
Daiichi Sankyo Co., Ltd. | 27,377 | 938,211 | ||||||||
Daikin Industries Ltd. | 10,398 | 1,216,782 | ||||||||
Daito Trust Construction Co., Ltd. | 3,070 | 512,158 | ||||||||
Daiwa House Industry Co., Ltd. | 24,806 | 909,043 | ||||||||
Daiwa Securities Group, Inc. | 67,942 | 417,680 | ||||||||
Denso Corp. | 17,594 | 925,484 | ||||||||
Dentsu, Inc. | 8,857 | 419,276 | ||||||||
Disco Corp. | 960 | 169,146 | ||||||||
Don Quijote Holdings Co., Ltd. | 5,411 | 291,751 | ||||||||
East Japan Railway Co.(c) | 13,671 | 1,310,567 | ||||||||
Eisai Co., Ltd. | 10,420 | 699,428 | ||||||||
Electric Power Development Co., Ltd. | 7,785 | 211,869 | ||||||||
FANUC Corp.(c) | 7,251 | 1,561,193 | ||||||||
Fast Retailing Co., Ltd. | 2,007 | 884,235 | ||||||||
FUJIFILM Holdings Corp. | 15,416 | 620,585 | ||||||||
Fujitsu Ltd. | 76,983 | 468,476 | ||||||||
Fukuoka Financial Group, Inc. | 42,127 | 225,601 | ||||||||
Hamamatsu Photonics K.K. | 7,014 | 270,496 | ||||||||
Hankyu Hanshin Holdings, Inc. | 10,465 | 412,671 | ||||||||
Hino Motors Ltd. | 16,732 | 204,439 | ||||||||
Hirose Electric Co., Ltd. | 2,019 | 284,514 | ||||||||
Hitachi Ltd.(c) | 172,292 | 1,262,136 | ||||||||
Honda Motor Co., Ltd.(c) | 63,568 | 2,188,354 | ||||||||
Hoya Corp. | 15,780 | 845,349 | ||||||||
Idemitsu Kosan Co., Ltd. | 5,966 | 233,624 | ||||||||
IHI Corp. | 7,240 | 237,529 | ||||||||
Inpex Corp. | 38,946 | 499,171 | ||||||||
Isetan Mitsukoshi Holdings Ltd. | 15,654 | 174,243 | ||||||||
Isuzu Motors Ltd. | 26,483 | 405,141 | ||||||||
ITOCHU Corp. | 55,602 | 1,114,835 | ||||||||
J Front Retailing Co., Ltd. | 12,159 | 197,233 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Japan (continued) | ||||||||||
Japan Exchange Group, Inc. | 22,082 | $ | 409,655 | |||||||
Japan Tobacco, Inc.(c) | 44,457 | 1,193,036 | ||||||||
JFE Holdings, Inc. | 21,008 | 432,831 | ||||||||
JGC Corp. | 12,603 | 309,244 | ||||||||
JTEKT Corp. | 12,170 | 197,411 | ||||||||
JXTG Holdings, Inc. | 138,738 | 905,775 | ||||||||
Kajima Corp. | 34,230 | 330,022 | ||||||||
Kansai Electric Power Co., Inc. (The) | 28,345 | 396,325 | ||||||||
Kansai Paint Co., Ltd. | 12,930 | 291,154 | ||||||||
Kao Corp. | 18,816 | 1,350,694 | ||||||||
Kawasaki Heavy Industries Ltd. | 7,258 | 243,426 | ||||||||
KDDI Corp.(c) | 64,979 | 1,744,056 | ||||||||
Keikyu Corp. | 13,441 | 246,526 | ||||||||
Keio Corp. | 6,028 | 275,991 | ||||||||
Keisei Electric Railway Co., Ltd. | 7,871 | 256,792 | ||||||||
Keyence Corp.(c) | 3,373 | 2,064,335 | ||||||||
Kikkoman Corp. | 8,841 | 383,373 | ||||||||
Kintetsu Group Holdings Co., Ltd. | 7,871 | 320,451 | ||||||||
Kirin Holdings Co., Ltd. | 35,045 | 984,174 | ||||||||
Koito Manufacturing Co., Ltd. | 5,893 | 395,829 | ||||||||
Komatsu Ltd. | 35,145 | 1,204,421 | ||||||||
Konami Holdings Corp. | 4,119 | 202,515 | ||||||||
Konica Minolta, Inc. | 22,802 | 195,877 | ||||||||
Kubota Corp. | 44,896 | 758,832 | ||||||||
Kuraray Co., Ltd. | 20,230 | 336,843 | ||||||||
Kurita Water Industries Ltd. | 9,003 | 292,078 | ||||||||
Kyocera Corp. | 12,530 | 801,325 | ||||||||
Kyowa Hakko Kirin Co., Ltd. | 13,322 | 289,024 | ||||||||
Kyushu Electric Power Co., Inc. | 19,511 | 241,068 | ||||||||
Lion Corp. | 11,268 | 243,226 | ||||||||
LIXIL Group Corp. | 12,434 | 278,735 | ||||||||
M3, Inc. | 10,063 | 381,185 | ||||||||
Makita Corp. | 11,640 | 523,361 | ||||||||
Marubeni Corp. | 72,631 | 547,064 | ||||||||
Marui Group Co., Ltd. | 12,151 | 252,625 | ||||||||
Mazda Motor Corp. | 22,551 | 313,560 | ||||||||
MEIJI Holdings Co., Ltd. | 5,714 | 458,478 | ||||||||
MINEBEA MITSUMI, Inc. | 15,420 | 309,598 | ||||||||
Miraca Holdings, Inc. | 4,369 | 170,488 | ||||||||
MISUMI Group, Inc. | 14,238 | 394,253 | ||||||||
Mitsubishi Chemical Holdings Corp. | 54,018 | 513,152 | ||||||||
Mitsubishi Corp. | 50,530 | 1,397,800 | ||||||||
Mitsubishi Electric Corp. | 74,991 | 1,151,678 | ||||||||
Mitsubishi Estate Co., Ltd. | 46,061 | 842,926 | ||||||||
Mitsubishi Heavy Industries Ltd. | 12,167 | 481,009 | ||||||||
Mitsubishi Materials Corp. | 6,228 | 190,098 | ||||||||
Mitsubishi Motors Corp. | 29,510 | 220,061 | ||||||||
Mitsubishi UFJ Financial Group, Inc.(c) | 460,019 | 3,082,348 | ||||||||
Mitsui & Co., Ltd. | 65,006 | 1,174,177 | ||||||||
Mitsui Chemicals, Inc. | 6,795 | 194,986 | ||||||||
Mitsui Fudosan Co., Ltd. | 35,254 | 905,795 | ||||||||
Mitsui OSK Lines Ltd. | 6,551 | 194,270 | ||||||||
Mizuho Financial Group, Inc. | �� | 870,300 | 1,577,953 | |||||||
MS&AD Insurance Group Holdings, Inc. | 20,120 | 675,171 | ||||||||
Murata Manufacturing Co., Ltd. | 7,102 | 898,905 | ||||||||
Nabtesco Corp. | 8,614 | 311,340 | ||||||||
NEC Corp. | 10,396 | 285,492 | ||||||||
Nexon Co., Ltd.* | 14,198 | 206,693 | ||||||||
NGK Insulators Ltd. | 13,126 | 241,348 | ||||||||
NGK Spark Plug Co., Ltd. | 10,133 | 261,138 | ||||||||
NH Foods Ltd. | 5,923 | 259,004 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Japan (continued) | ||||||||||
Nidec Corp. | 8,838 | $ | 1,384,358 | |||||||
Nihon M&A Center, Inc. | 5,202 | 152,602 | ||||||||
Nikon Corp. | 18,549 | 323,431 | ||||||||
Nintendo Co., Ltd. | 3,935 | 1,660,306 | ||||||||
Nippon Express Co., Ltd. | 3,732 | 282,053 | ||||||||
Nippon Paint Holdings Co., Ltd. | 7,075 | 289,660 | ||||||||
Nippon Shinyaku Co., Ltd. | 3,277 | 244,371 | ||||||||
Nippon Steel & Sumitomo Metal Corp. | 30,473 | 664,182 | ||||||||
Nippon Telegraph & Telephone Corp.(c) | 25,070 | 1,192,500 | ||||||||
Nippon Yusen K.K. | 8,328 | 177,634 | ||||||||
Nissan Chemical Industries Ltd. | 8,858 | 394,633 | ||||||||
Nissan Motor Co., Ltd. | 66,504 | 699,834 | ||||||||
Nisshin Seifun Group, Inc. | 15,774 | 344,959 | ||||||||
Nissin Foods Holdings Co., Ltd. | 4,700 | 345,762 | ||||||||
Nitori Holdings Co., Ltd. | 3,234 | 546,167 | ||||||||
Nitto Denko Corp. | 6,466 | 481,589 | ||||||||
Nomura Holdings, Inc.(c) | 128,695 | 743,414 | ||||||||
Nomura Research Institute Ltd. | 5,990 | 309,285 | ||||||||
NSK Ltd. | 21,733 | 291,958 | ||||||||
NTT Data Corp. | 28,956 | 311,986 | ||||||||
NTT DOCOMO, Inc. | 47,712 | 1,236,130 | ||||||||
Obayashi Corp. | 32,665 | 376,726 | ||||||||
Obic Co., Ltd. | 3,731 | 312,664 | ||||||||
Odakyu Electric Railway Co., Ltd. | 14,437 | 311,499 | ||||||||
Oji Holdings Corp. | 47,125 | 331,608 | ||||||||
Olympus Corp. | 12,720 | 474,857 | ||||||||
Omron Corp. | 8,874 | 481,714 | ||||||||
Ono Pharmaceutical Co., Ltd. | 18,534 | 429,284 | ||||||||
Oriental Land Co., Ltd. | 7,790 | 777,042 | ||||||||
ORIX Corp. | 49,642 | 872,846 | ||||||||
Osaka Gas Co., Ltd. | 15,785 | 339,574 | ||||||||
Otsuka Holdings Co., Ltd. | 16,991 | 890,038 | ||||||||
Panasonic Corp.(c) | 78,998 | 1,178,202 | ||||||||
PeptiDream, Inc.* | 4,425 | 179,548 | ||||||||
Pigeon Corp. | 4,686 | 219,686 | ||||||||
Rakuten, Inc. | 29,521 | 210,485 | ||||||||
Recruit Holdings Co., Ltd. | 45,984 | 1,061,929 | ||||||||
Renesas Electronics Corp.* | 17,133 | 179,746 | ||||||||
Resona Holdings, Inc. | 93,755 | 533,442 | ||||||||
Ricoh Co., Ltd. | 32,059 | 313,778 | ||||||||
Rohm Co., Ltd. | 4,556 | 425,518 | ||||||||
Ryohin Keikaku Co., Ltd. | 1,145 | 392,915 | ||||||||
Santen Pharmaceutical Co., Ltd. | 19,039 | 321,014 | ||||||||
SBI Holdings, Inc. | 11,584 | 292,921 | ||||||||
SCREEN Holdings Co., Ltd. | 1,462 | 120,380 | ||||||||
Secom Co., Ltd. | 8,176 | 612,836 | ||||||||
Seiko Epson Corp. | 13,637 | 256,103 | ||||||||
Sekisui Chemical Co., Ltd. | 20,367 | 361,087 | ||||||||
Sekisui House Ltd. | 24,678 | 452,064 | ||||||||
Seven & i Holdings Co., Ltd.(c) | 28,284 | 1,241,989 | ||||||||
Sharp Corp. | 5,258 | 154,485 | ||||||||
Shima Seiki Manufacturing Ltd. | 1,443 | 91,782 | ||||||||
Shimadzu Corp. | 14,392 | 391,415 | ||||||||
Shimano, Inc. | 3,229 | 429,058 | ||||||||
Shimizu Corp. | 29,037 | 287,650 | ||||||||
Shin-Etsu Chemical Co., Ltd. | 15,725 | 1,581,482 | ||||||||
Shionogi & Co., Ltd. | 12,162 | 626,189 | ||||||||
Shiseido Co., Ltd.(c) | 14,993 | 974,459 | ||||||||
Shizuoka Bank Ltd. (The) | 26,722 | 271,555 | ||||||||
Showa Denko K.K. | 4,843 | 161,765 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Japan (continued) | ||||||||||
SMC Corp. | 2,332 | $ | 889,112 | |||||||
SoftBank Group Corp.(c) | 30,517 | 2,370,802 | ||||||||
Sompo Holdings, Inc. | 14,635 | 613,888 | ||||||||
Sony Corp. | 44,879 | 2,214,728 | ||||||||
Sotetsu Holdings, Inc. | 6,494 | 186,348 | ||||||||
Stanley Electric Co., Ltd. | 8,089 | 293,104 | ||||||||
Start Today Co., Ltd. | 7,343 | 212,053 | ||||||||
Subaru Corp. | 22,848 | 768,177 | ||||||||
SUMCO Corp. | 8,390 | 207,172 | ||||||||
Sumitomo Chemical Co., Ltd. | 63,681 | 366,053 | ||||||||
Sumitomo Corp. | 47,043 | �� | 846,710 | |||||||
Sumitomo Electric Industries Ltd. | 31,005 | 475,878 | ||||||||
Sumitomo Metal Mining Co., Ltd. | 10,207 | 438,222 | ||||||||
Sumitomo Mitsui Financial Group, Inc.(c) | 48,925 | 2,034,350 | ||||||||
Sumitomo Mitsui Trust Holdings, Inc. | 14,523 | 616,622 | ||||||||
Sumitomo Realty & Development Co., Ltd. | 16,915 | 672,272 | ||||||||
Suntory Beverage & Food Ltd. | 6,001 | 295,594 | ||||||||
Suzuki Motor Corp. | 15,691 | 844,740 | ||||||||
Sysmex Corp. | 6,092 | 538,913 | ||||||||
T&D Holdings, Inc. | 26,008 | 441,845 | ||||||||
Taiheiyo Cement Corp. | 7,028 | 266,219 | ||||||||
Taisei Corp. | 10,166 | 549,062 | ||||||||
Taisho Pharmaceutical Holdings Co., Ltd. | 2,743 | 262,957 | ||||||||
Takashimaya Co., Ltd. | 20,055 | 172,280 | ||||||||
Takeda Pharmaceutical Co., Ltd. | 28,620 | 1,208,618 | ||||||||
TDK Corp. | 5,094 | 439,920 | ||||||||
Teijin Ltd. | 11,061 | 208,332 | ||||||||
Terumo Corp. | 14,218 | 805,589 | ||||||||
Tobu Railway Co., Ltd. | 10,185 | 324,840 | ||||||||
Toho Co., Ltd. | 7,615 | 254,703 | ||||||||
Tohoku Electric Power Co., Inc. | 19,372 | 249,796 | ||||||||
Tokio Marine Holdings, Inc.(c) | 26,468 | 1,251,017 | ||||||||
Tokyo Electric Power Co., Holdings, Inc.* | 58,849 | 280,195 | ||||||||
Tokyo Electron Ltd.(c) | 5,894 | 1,134,093 | ||||||||
Tokyo Gas Co., Ltd. | 17,713 | 474,613 | ||||||||
Tokyu Corp. | 23,860 | 401,428 | ||||||||
Toppan Printing Co., Ltd. | 27,938 | 233,870 | ||||||||
Toray Industries, Inc. | 61,786 | 577,065 | ||||||||
Toshiba Corp.* | 196,383 | 525,842 | ||||||||
Tosoh Corp. | 10,861 | 192,754 | ||||||||
TOTO Ltd. | 7,576 | 429,947 | ||||||||
Toyo Suisan Kaisha Ltd. | 5,856 | 230,654 | ||||||||
Toyota Industries Corp. | 6,948 | 410,816 | ||||||||
Toyota Motor Corp.(c) | 89,814 | 5,894,031 | ||||||||
Toyota Tsusho Corp. | 10,203 | 366,907 | ||||||||
Tsuruha Holdings, Inc. | 2,113 | 303,747 | ||||||||
Unicharm Corp. | 16,494 | 463,505 | ||||||||
USS Co., Ltd. | 13,705 | 288,190 | ||||||||
West Japan Railway Co. | 7,305 | 517,375 | ||||||||
Yahoo Japan Corp. | 62,542 | 257,198 | ||||||||
Yakult Honsha Co., Ltd. | 5,931 | 422,772 | ||||||||
Yamada Denki Co., Ltd. | 37,096 | 194,591 | ||||||||
Yamaguchi Financial Group, Inc. | 15,928 | 199,127 | ||||||||
Yamaha Corp. | 6,414 | 310,076 | ||||||||
Yamaha Motor Co., Ltd. | 12,457 | 398,442 | ||||||||
Yamato Holdings Co., Ltd. | 15,302 | 393,999 | ||||||||
Yaskawa Electric Corp. | 7,791 | 318,262 | ||||||||
Total Japan | 137,196,532 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Jersey — 0.1% | ||||||||||
Randgold Resources Ltd. | 3,662 | $ | 295,973 | |||||||
Kazakhstan — 0.0%(b) | ||||||||||
KAZ Minerals PLC* | 10,507 | 133,199 | ||||||||
Luxembourg — 0.3% | ||||||||||
ArcelorMittal* | 21,270 | 721,997 | ||||||||
Eurofins Scientific SE | 457 | 247,251 | ||||||||
RTL Group SA | 2,027 | 167,146 | ||||||||
SES SA(a) | 14,201 | 219,618 | ||||||||
Tenaris SA | 21,153 | 397,923 | ||||||||
Total Luxembourg | 1,753,935 | |||||||||
Macau — 0.2% | ||||||||||
Sands China Ltd. | 95,649 | 557,569 | ||||||||
Wynn Macau Ltd. | 77,486 | 289,773 | ||||||||
Total Macau | 847,342 | |||||||||
Netherlands — 4.2% | ||||||||||
ABN AMRO Group NV‡ | 9,708 | 301,792 | ||||||||
Aegon NV | 67,250 | 494,984 | ||||||||
Akzo Nobel NV | 9,557 | 864,852 | ||||||||
Altice NV, Class A* | 24,877 | 238,588 | ||||||||
ASML Holding NV | 13,187 | 2,509,373 | ||||||||
ASR Nederland NV | 3,288 | 155,565 | ||||||||
EXOR NV | 5,081 | 377,785 | ||||||||
Gemalto NV | 3,645 | 219,666 | ||||||||
Heineken Holding NV | 4,320 | 439,475 | ||||||||
Heineken NV | 8,494 | 895,911 | ||||||||
ING Groep NV | 139,389 | 2,353,694 | ||||||||
Koninklijke Ahold Delhaize NV | 47,743 | 1,153,950 | ||||||||
Koninklijke DSM NV | 7,390 | 766,252 | ||||||||
Koninklijke KPN NV | 123,017 | 383,017 | ||||||||
Koninklijke Philips NV | 34,045 | 1,448,298 | ||||||||
NN Group NV | 13,986 | 670,677 | ||||||||
Randstad NV | 4,506 | 290,609 | ||||||||
Royal Dutch Shell PLC, Class A(c) | 154,885 | 5,399,403 | ||||||||
Royal Dutch Shell PLC, Class B(c) | 135,292 | 4,847,750 | ||||||||
Wolters Kluwer NV(a) | 12,321 | 667,349 | ||||||||
Total Netherlands | 24,478,990 | |||||||||
New Zealand — 0.2% | ||||||||||
Auckland International Airport Ltd. | 63,997 | 287,689 | ||||||||
Fisher & Paykel Healthcare Corp. Ltd. | 41,201 | 370,135 | ||||||||
Fletcher Building Ltd. | 55,445 | 246,510 | ||||||||
Spark New Zealand Ltd. | 105,758 | 257,829 | ||||||||
Total New Zealand | 1,162,163 | |||||||||
Norway — 0.6% | ||||||||||
DNB ASA(a) | 43,770 | 822,555 | ||||||||
Norsk Hydro ASA | 52,537 | 328,295 | ||||||||
Orkla ASA | 38,474 | 357,024 | ||||||||
Schibsted ASA, Class A | 7,084 | 207,451 | ||||||||
Statoil ASA(a) | 37,546 | 963,127 | ||||||||
Telenor ASA | 25,993 | 576,894 | ||||||||
Yara International ASA | 7,327 | 310,051 | ||||||||
Total Norway | 3,565,397 | |||||||||
Portugal — 0.1% | ||||||||||
EDP — Energias de Portugal SA(a) | 91,768 | 341,049 | ||||||||
Galp Energia SGPS SA | 13,473 | 259,065 | ||||||||
Jeronimo Martins SGPS SA | 11,138 | 195,664 | ||||||||
Total Portugal | 795,778 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Russia — 0.0%(b) | ||||||||||
Polymetal International PLC | 22,016 | $ | 221,181 | |||||||
Singapore — 1.3% | ||||||||||
Ascendas Real Estate Investment Trust | 162,943 | 328,581 | ||||||||
CapitaLand Commercial Trust | 264,397 | 363,432 | ||||||||
CapitaLand Ltd. | 107,201 | 304,426 | ||||||||
CapitaLand Mall Trust | 179,903 | 285,334 | ||||||||
City Developments Ltd. | 23,821 | 227,946 | ||||||||
ComfortDelGro Corp. Ltd. | 126,778 | 215,438 | ||||||||
DBS Group Holdings Ltd. | 63,655 | 1,482,663 | ||||||||
Genting Singapore PLC | 262,175 | 231,672 | ||||||||
Keppel Corp. Ltd. | 63,568 | 393,204 | ||||||||
Oversea-Chinese Banking Corp. Ltd. | 113,774 | 1,185,817 | ||||||||
Singapore Exchange Ltd. | 56,240 | 327,913 | ||||||||
Singapore Press Holdings Ltd. | 113,070 | 232,280 | ||||||||
Singapore Technologies Engineering Ltd. | 83,431 | 219,912 | ||||||||
Singapore Telecommunications Ltd. | 249,076 | 662,171 | ||||||||
United Overseas Bank Ltd. | 46,350 | 1,055,088 | ||||||||
Total Singapore | 7,515,877 | |||||||||
South Africa — 0.1% | ||||||||||
Mediclinic International PLC | 22,500 | 207,945 | ||||||||
Mondi PLC | 16,969 | 473,522 | ||||||||
Total South Africa | 681,467 | |||||||||
South Korea — 4.9% | ||||||||||
Amorepacific Corp. | 1,467 | 479,362 | ||||||||
AMOREPACIFIC Group | 1,406 | 188,248 | ||||||||
Celltrion Healthcare Co., Ltd.* | 1,759 | 147,894 | ||||||||
Celltrion, Inc.* | 2,863 | 726,439 | ||||||||
Coway Co., Ltd. | 3,271 | 267,977 | ||||||||
DB Insurance Co., Ltd. | 3,546 | 208,832 | ||||||||
E-Mart Inc. | 1,174 | 296,784 | ||||||||
GS Holdings Corp. | 2,703 | 155,137 | ||||||||
Hana Financial Group, Inc. | 12,993 | 580,886 | ||||||||
Hankook Tire Co., Ltd. | 4,630 | 214,366 | ||||||||
Hotel Shilla Co., Ltd. | 1,499 | 162,805 | ||||||||
Hyundai Heavy Industries Co., Ltd.* | 1,500 | 167,829 | ||||||||
Hyundai Heavy Industries Holdings Co., Ltd.* | 412 | 162,979 | ||||||||
Hyundai Mobis Co., Ltd. | 2,605 | 604,878 | ||||||||
Hyundai Motor Co. | 6,486 | 971,640 | ||||||||
Hyundai Steel Co. | 4,377 | 248,346 | ||||||||
Industrial Bank of Korea | 17,059 | 269,130 | ||||||||
Kakao Corp. | 1,706 | 177,301 | ||||||||
Kangwon Land, Inc. | 8,128 | 219,933 | ||||||||
KB Financial Group, Inc. | 16,385 | 938,872 | ||||||||
Kia Motors Corp. | 11,637 | 360,643 | ||||||||
Korea Aerospace Industries Ltd.* | 3,543 | 143,306 | ||||||||
Korea Electric Power Corp. | 10,508 | 368,451 | ||||||||
Korea Zinc Co., Ltd. | 581 | 235,816 | ||||||||
KT&G Corp. | 5,242 | 480,003 | ||||||||
LG Chem Ltd. | 1,949 | 656,936 | ||||||||
LG Corp. | 5,147 | 390,826 | ||||||||
LG Display Co., Ltd. | 9,812 | 215,431 | ||||||||
LG Electronics, Inc. | 4,527 | 432,334 | ||||||||
LG Household & Health Care Ltd. | 461 | 591,330 | ||||||||
Lotte Chemical Corp. | 692 | 268,235 | ||||||||
NAVER Corp. | 1,088 | 729,374 | ||||||||
NCSoft Corp. | 762 | 256,842 | ||||||||
POSCO | 2,701 | 942,018 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
South Korea (continued) | ||||||||||
Samsung Biologics Co., Ltd.‡* | 632 | $ | 288,766 | |||||||
Samsung C&T Corp. | 2,909 | 381,312 | ||||||||
Samsung Electro-Mechanics Co., Ltd. | 2,082 | 230,998 | ||||||||
Samsung Electronics Co., Ltd(d). | 3,344 | 8,296,990 | ||||||||
Samsung Fire & Marine Insurance Co., Ltd. | 1,607 | 402,483 | ||||||||
Samsung Life Insurance Co., Ltd. | 3,285 | 359,857 | ||||||||
Samsung SDI Co., Ltd. | 2,114 | 363,203 | ||||||||
Samsung SDS Co., Ltd. | 1,435 | 329,175 | ||||||||
Shinhan Financial Group Co., Ltd. | 19,321 | 861,987 | ||||||||
SillaJen, Inc.* | 1,980 | 155,908 | ||||||||
SK Holdings Co., Ltd. | 1,418 | 390,330 | ||||||||
SK Hynix, Inc. | 19,101 | 1,511,197 | ||||||||
SK Innovation Co., Ltd. | 2,768 | 509,257 | ||||||||
SK Telecom Co., Ltd. | 1,221 | 261,222 | ||||||||
S-Oil Corp. | 2,674 | 275,399 | ||||||||
Woori Bank | 22,774 | 342,234 | ||||||||
Total South Korea | 28,221,501 | |||||||||
Spain — 3.0% | ||||||||||
Abertis Infraestructuras SA | 27,921 | 615,985 | ||||||||
ACS Actividades de Construccion y Servicios SA | 11,009 | 465,936 | ||||||||
Aena SME SA‡ | 2,561 | 529,417 | ||||||||
Amadeus IT Group SA | 15,698 | 1,151,255 | ||||||||
Banco Bilbao Vizcaya Argentaria SA | 237,767 | 1,933,327 | ||||||||
Banco de Sabadell SA | 223,741 | 439,682 | ||||||||
Banco Santander SA | 562,308 | 3,650,310 | ||||||||
Bankia SA | 56,476 | 248,850 | ||||||||
Bankinter SA | 36,646 | 384,313 | ||||||||
CaixaBank SA | 135,387 | 660,677 | ||||||||
Enagas SA | 11,181 | 326,104 | ||||||||
Endesa SA | 11,874 | 277,885 | ||||||||
Ferrovial SA | 20,388 | 436,862 | ||||||||
Gas Natural SDG SA | 11,532 | 291,338 | ||||||||
Grifols SA | 21,461 | 605,446 | ||||||||
Iberdrola SA | 191,315 | 1,483,037 | ||||||||
Industria de Diseno Textil SA(a) | 37,052 | 1,154,073 | ||||||||
Red Electrica Corp. SA | 17,727 | 370,099 | ||||||||
Repsol SA | 43,187 | 827,029 | ||||||||
Telefonica SA | 156,777 | 1,597,361 | ||||||||
Total Spain | 17,448,986 | |||||||||
Sweden — 2.4% | ||||||||||
Alfa Laval AB | 14,163 | 352,658 | ||||||||
Assa Abloy AB, B Shares | 33,060 | 696,517 | ||||||||
Atlas Copco AB, A Shares | 21,905 | 862,120 | ||||||||
Atlas Copco AB, B Shares | 13,090 | 467,575 | ||||||||
Boliden AB | 10,201 | 355,629 | ||||||||
Electrolux AB | 8,722 | 230,744 | ||||||||
Essity AB, B Shares | 21,685 | 553,100 | ||||||||
Hennes & Mauritz AB, B Shares | 32,283 | 553,201 | ||||||||
Hexagon AB, B Shares | 9,643 | 560,293 | ||||||||
Industrivarden AB, A Shares | 18,752 | 413,732 | ||||||||
Investor AB, B Shares | 16,379 | 717,694 | ||||||||
Kinnevik AB, B Shares | 10,924 | 396,203 | ||||||||
Lundin Petroleum AB* | 9,516 | 263,614 | ||||||||
Nordea Bank AB | 105,439 | 1,077,907 | ||||||||
Sandvik AB | 39,419 | 676,295 | ||||||||
Securitas AB, B Shares | 14,200 | 230,630 | ||||||||
Skandinaviska Enskilda Banken AB, A Shares | 50,177 | 473,476 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Sweden (continued) | ||||||||||
Skanska AB, B Shares | 13,810 | $ | 270,577 | |||||||
SKF AB, B Shares | 15,835 | 322,478 | ||||||||
Svenska Cellulosa AB SCA, B Shares | 21,685 | 241,380 | ||||||||
Svenska Handelsbanken AB, A Shares | 50,198 | 562,668 | ||||||||
Swedbank AB, A Shares | 36,479 | 796,713 | ||||||||
Swedish Match AB | 8,282 | 373,225 | ||||||||
Telefonaktiebolaget LM Ericsson, B Shares | 104,689 | 804,655 | ||||||||
Telia Co. AB | 88,408 | 436,630 | ||||||||
Trelleborg AB, B Shares | 13,034 | 306,060 | ||||||||
Volvo AB, B Shares | 53,817 | 918,391 | ||||||||
Total Sweden | 13,914,165 | |||||||||
Switzerland — 7.6% | ||||||||||
ABB Ltd. | 70,158 | 1,647,108 | ||||||||
Adecco Group AG | 6,221 | 414,398 | ||||||||
Baloise Holding AG | 2,048 | 326,265 | ||||||||
Chocoladefabriken Lindt & Spruengli AG* | 47 | 302,919 | ||||||||
Cie Financiere Richemont SA | 18,896 | 1,805,037 | ||||||||
Clariant AG* | 11,131 | 258,738 | ||||||||
Coca-Cola HBC AG* | 8,660 | 291,517 | ||||||||
Credit Suisse Group AG* | 85,580 | 1,451,981 | ||||||||
Dufry AG* | 1,528 | 217,415 | ||||||||
EMS-Chemie Holding AG | 440 | 273,361 | ||||||||
Ferguson PLC | 8,920 | 685,557 | ||||||||
Geberit AG | 1,561 | 669,563 | ||||||||
Givaudan SA | 388 | 869,756 | ||||||||
Glencore PLC*(c) | 407,810 | 1,969,871 | ||||||||
Julius Baer Group Ltd.* | 8,475 | 507,181 | ||||||||
Kuehne + Nagel International AG | 1,550 | 242,701 | ||||||||
LafargeHolcim Ltd.* | 15,712 | 878,691 | ||||||||
Logitech International SA | 3,475 | 129,466 | ||||||||
Lonza Group AG* | 3,117 | 768,938 | ||||||||
Nestle SA | 108,712 | 8,454,035 | ||||||||
Novartis AG | 76,509 | 5,928,114 | ||||||||
Partners Group Holding AG | 844 | 619,422 | ||||||||
PSP Swiss Property AG | 2,414 | 226,427 | ||||||||
Roche Holding AG | 25,080 | 5,595,432 | ||||||||
Schindler Holding AG — Participating Certificate | 2,358 | 489,751 | ||||||||
SGS SA | 229 | 559,140 | ||||||||
Sika AG | 100 | 730,377 | ||||||||
Sonova Holding AG | 2,314 | 383,836 | ||||||||
STMicroelectronics NV | 22,641 | 495,670 | ||||||||
Swatch Group AG (The) | 1,256 | 607,128 | ||||||||
Swiss Life Holding AG* | 1,383 | 486,893 | ||||||||
Swiss Prime Site AG* | 3,419 | 321,384 | ||||||||
Swiss Re AG | 11,066 | 1,058,195 | ||||||||
Swisscom AG(a) | 823 | 396,576 | ||||||||
UBS Group AG* | 120,288 | 2,037,812 | ||||||||
Vifor Pharma AG | 2,771 | 440,186 | ||||||||
Zurich Insurance Group AG | 5,077 | 1,628,907 | ||||||||
Total Switzerland | 44,169,748 | |||||||||
United Arab Emirates — 0.1% | ||||||||||
NMC Health PLC | 4,910 | 241,296 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
United Kingdom — 14.5% | ||||||||||
3i Group PLC | 40,211 | $ | 521,502 | |||||||
Admiral Group PLC | 11,093 | 304,509 | ||||||||
Anglo American PLC(a) | 36,059 | 848,988 | ||||||||
Ashtead Group PLC | 20,324 | 569,103 | ||||||||
Associated British Foods PLC | 13,086 | 487,369 | ||||||||
AstraZeneca PLC(c) | 45,343 | 3,186,985 | ||||||||
Auto Trader Group PLC‡ | 27,179 | 132,146 | ||||||||
Aviva PLC(c) | 143,208 | 1,043,439 | ||||||||
BAE Systems PLC | 110,654 | 931,221 | ||||||||
Barclays PLC(c) | 601,416 | 1,716,776 | ||||||||
Barratt Developments PLC | 39,299 | 302,037 | ||||||||
Berkeley Group Holdings PLC | 5,187 | 290,916 | ||||||||
BP PLC | 673,465 | 4,990,471 | ||||||||
British American Tobacco PLC(c) | 79,926 | 4,402,341 | ||||||||
British Land Co. PLC (The) | 38,618 | 357,653 | ||||||||
BT Group PLC(c) | 301,669 | 1,036,474 | ||||||||
Bunzl PLC | 13,597 | 395,344 | ||||||||
Burberry Group PLC | 17,475 | 438,902 | ||||||||
Capita PLC(a) | 28,167 | 74,313 | ||||||||
Centrica PLC | 197,422 | 418,212 | ||||||||
CNH Industrial NV | 34,763 | 430,086 | ||||||||
Cobham PLC* | 59,962 | 95,060 | �� | |||||||
Compass Group PLC(c) | 54,886 | 1,179,317 | ||||||||
Croda International PLC | 6,261 | 384,698 | ||||||||
DCC PLC | 3,550 | 342,271 | ||||||||
Diageo PLC(c) | 88,035 | 3,139,292 | ||||||||
Direct Line Insurance Group PLC | 60,314 | 310,944 | ||||||||
DS Smith PLC | 46,945 | 337,782 | ||||||||
Experian PLC | 35,232 | 808,942 | ||||||||
Fiat Chrysler Automobiles NV* | 37,951 | 851,479 | ||||||||
G4S PLC | 66,940 | 238,705 | ||||||||
GlaxoSmithKline PLC(c) | 171,045 | 3,442,895 | ||||||||
Hammerson PLC | 39,004 | 294,935 | ||||||||
Hargreaves Lansdown PLC | 11,614 | 286,258 | ||||||||
HSBC Holdings PLC | 701,128 | 7,005,177 | ||||||||
IMI PLC | 13,784 | 207,320 | ||||||||
Imperial Brands PLC(c) | 34,125 | 1,224,169 | ||||||||
Informa PLC | 41,173 | 419,084 | ||||||||
InterContinental Hotels Group PLC | 7,535 | 476,262 | ||||||||
International Consolidated Airlines Group SA | 37,155 | 322,508 | ||||||||
Intertek Group PLC | 7,542 | 509,114 | ||||||||
ITV PLC | 139,856 | 292,124 | ||||||||
J Sainsbury PLC | 68,675 | 292,282 | ||||||||
Johnson Matthey PLC | 7,836 | 355,519 | ||||||||
Just Eat PLC* | 22,847 | 243,502 | ||||||||
Kingfisher PLC | 88,804 | 371,590 | ||||||||
Land Securities Group PLC | 28,010 | 381,320 | ||||||||
Legal & General Group PLC | 214,410 | 797,357 | ||||||||
Lloyds Banking Group PLC(c) | 2,527,002 | 2,250,534 | ||||||||
London Stock Exchange Group PLC | 11,095 | 657,113 | ||||||||
Marks & Spencer Group PLC | 63,692 | 252,388 | ||||||||
Meggitt PLC | 37,766 | 245,728 | ||||||||
Melrose Industries PLC | 215,850 | 677,846 | ||||||||
Micro Focus International PLC | 17,396 | 300,224 | ||||||||
National Grid PLC(c) | 118,697 | 1,377,871 | ||||||||
Next PLC | 5,491 | 397,513 | ||||||||
Old Mutual PLC | 179,777 | 623,001 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
United Kingdom (continued) | ||||||||||
Pearson PLC | 31,657 | $ | 363,560 | |||||||
Persimmon PLC | 12,262 | 458,538 | ||||||||
Prudential PLC(c) | 90,737 | 2,342,686 | ||||||||
Reckitt Benckiser Group PLC(c) | 22,521 | 1,768,720 | ||||||||
RELX NV | 33,440 | 711,685 | ||||||||
RELX PLC | 38,395 | 822,072 | ||||||||
Rio Tinto Ltd. | 14,474 | 872,526 | ||||||||
Rio Tinto PLC | 40,903 | 2,223,087 | ||||||||
Rolls-Royce Holdings PLC, Class C*(d)(e) | 4,129,147 | 5,687 | ||||||||
Rolls-Royce Holdings PLC* | 58,980 | 682,383 | ||||||||
Royal Bank of Scotland Group PLC* | 116,489 | 433,525 | ||||||||
Royal Mail PLC | 39,455 | 315,843 | ||||||||
RSA Insurance Group PLC | 45,868 | 415,321 | ||||||||
Sage Group PLC (The) | 44,459 | 388,968 | ||||||||
Schroders PLC | 4,904 | 222,967 | ||||||||
Severn Trent PLC | 9,225 | 246,497 | ||||||||
Sky PLC | 36,764 | 697,776 | ||||||||
Smith & Nephew PLC | 34,212 | 657,822 | ||||||||
Smiths Group PLC | 18,316 | 403,010 | ||||||||
SSE PLC(c) | 35,855 | 682,005 | ||||||||
St James’s Place PLC | 22,290 | 348,918 | ||||||||
Standard Chartered PLC | 99,312 | 1,049,159 | ||||||||
Standard Life Aberdeen PLC | 103,401 | 520,258 | ||||||||
Tate & Lyle PLC | 25,822 | 204,362 | ||||||||
Taylor Wimpey PLC | 126,813 | 334,922 | ||||||||
TechnipFMC PLC | 18,767 | 617,421 | ||||||||
Tesco PLC(c) | 357,756 | 1,162,409 | ||||||||
Travis Perkins PLC | 11,605 | 202,839 | ||||||||
Unilever NV(c) | 53,098 | 3,044,058 | ||||||||
Unilever PLC | 40,729 | 2,287,399 | ||||||||
United Utilities Group PLC | 26,588 | 272,167 | ||||||||
Vodafone Group PLC(c) | 956,340 | 2,787,226 | ||||||||
Weir Group PLC (The) | 10,646 | 313,207 | ||||||||
Whitbread PLC | 6,680 | 393,882 | ||||||||
Wm Morrison Supermarkets PLC | 95,240 | 318,896 | ||||||||
WPP PLC(c) | 44,525 | 765,048 | ||||||||
Total United Kingdom | 83,607,760 | |||||||||
United States — 0.5% | ||||||||||
Carnival PLC | 6,409 | 417,096 | ||||||||
QIAGEN NV* | 8,610 | 283,887 | ||||||||
Samsonite International SA | 59,223 | 268,638 | ||||||||
Shire PLC(c) | 31,732 | 1,689,677 | ||||||||
Total United States | 2,659,298 | |||||||||
Total Common Stocks | ||||||||||
(Cost $543,607,913) | 570,939,515 | |||||||||
Preferred Stocks — 0.7% | ||||||||||
Germany — 0.5% | ||||||||||
FUCHS PETROLUB SE, 2.01% | 5,651 | 304,098 | ||||||||
Henkel AG & Co. KGaA, 1.72% | 6,843 | 871,417 | ||||||||
Porsche Automobil Holding SE, 1.44% | 6,470 | 553,447 | ||||||||
Volkswagen AG, 2.30% | 6,477 | 1,344,735 | ||||||||
Total Germany | 3,073,697 | |||||||||
Shares | Value | |||||||||
Preferred Stocks (continued) | ||||||||||
South Korea — 0.2% | ||||||||||
Samsung Electronics Co., Ltd., 2.60%(d) | 499 | $ | 992,814 | |||||||
Total Preferred Stocks | ||||||||||
(Cost $3,576,730) | 4,066,511 | |||||||||
Right — 0.0%(b) | ||||||||||
New Zealand — 0.0%(b) | ||||||||||
Fletcher Building Ltd., expires 5/14/18*(d)(e) (Cost $0) | 10,154 | — | ||||||||
Short-Term Investment — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 1.58%(f) | ||||||||||
(Cost $312,496) | 312,496 | 312,496 | ||||||||
Investment of Cash Collateral For Securities Loaned — 1.6% | ||||||||||
Money Market Fund — 1.6% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 1.61%(f) | ||||||||||
(Cost $9,366,228) | 9,366,228 | 9,366,228 | ||||||||
Total Investments — 101.1% | ||||||||||
(Cost $556,863,367) | 584,684,750 | |||||||||
Other Assets and Liabilities, Net — (1.1)% | (6,167,716 | ) | ||||||||
Net Assets — 100.0% | $ | 578,517,034 |
* | Non-income producing securities. |
‡ | May be sold to institutional investors only under Rule 144A or securities offered pursuant to section 4 (a) (2) of the Securities Act of 1933, as amended. |
(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 $11,269,536; total market value of collateral held by the Fund was $11,886,014. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $2,519,786. |
(b) | Less than 0.05%. |
(c) | All or a portion of these securities have been segregated as collateral for Forward foreign currency contracts. The total value of securities segregated amounted to $40,515,515. |
(d) | Securities have been deemed illiquid because it may not be able to be resold within seven days at approximately the price shown. At April 30, 2018, the value of these securities were $9,295,491. |
(e) | Securities are fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. The securities are fair valued using significant unobservable inputs. The valuation technique can be found at the end of the Schedules of Investments for the Fund. |
(f) | Reflects the 1-day yield at April 30, 2018. |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2018
Purchased Contracts | Settlement Date | Counterparty | Currency Amount Purchased | Value at Settlement Date | Value at April 30, 2018 | Unrealized Appreciation | ||||||||||||||
Australian Dollar | 05/08/18 | Morgan Stanley | 22,986,403 | $ | 17,345,627 | $ | 17,351,528 | $ | 5,901 | |||||||||||
Swiss Franc | 05/08/18 | Morgan Stanley | 19,632,412 | 19,834,526 | 19,846,435 | 11,909 | ||||||||||||||
Danish Krone | 05/08/18 | Morgan Stanley | 27,644,850 | 4,485,549 | 4,485,850 | 301 | ||||||||||||||
Euro | 05/08/18 | Morgan Stanley | 68,131,997 | 82,318,305 | 82,367,193 | 48,888 | ||||||||||||||
British Pound | 05/08/18 | Morgan Stanley | 32,923,216 | 45,350,249 | 45,364,348 | 14,099 | ||||||||||||||
British Pound | 06/07/18 | Morgan Stanley | 8,542 | 11,764 | 11,787 | 23 | ||||||||||||||
Hong Kong Dollar | 05/08/18 | Morgan Stanley | 75,408,709 | 9,607,808 | 9,610,471 | 2,663 | ||||||||||||||
Israeli Shekel | 05/08/18 | Morgan Stanley | 4,331,896 | 1,203,902 | 1,204,602 | 700 | ||||||||||||||
Japanese Yen | 05/08/18 | Morgan Stanley | 7,192,379,172 | 65,732,452 | 65,765,130 | 32,678 | ||||||||||||||
South Korean Won | 05/08/18 | Morgan Stanley | 15,147,473,050 | 14,159,164 | 14,185,200 | 26,036 | ||||||||||||||
Norwegian Krone | 05/08/18 | Morgan Stanley | 13,680,695 | 1,707,485 | 1,708,194 | 709 | ||||||||||||||
New Zealand Dollar | 05/08/18 | Morgan Stanley | 780,926 | 549,909 | 550,222 | 313 | ||||||||||||||
Swedish Krona | 05/08/18 | Morgan Stanley | 58,658,752 | 6,710,353 | 6,713,397 | 3,044 | ||||||||||||||
Singapore Dollar | 05/08/18 | Morgan Stanley | 4,606,259 | 3,478,309 | 3,479,498 | 1,189 | ||||||||||||||
Unrealized Appreciation | $ | 272,495,402 | $ | 272,643,855 | $ | 148,453 |
Sold Contracts | Settlement Date | Counterparty | Currency Amount Sold | Value at Settlement Date | Value at April 30, 2018 | Unrealized Appreciation | ||||||||||||||
Australian Dollar | 05/08/18 | Morgan Stanley | (22,986,402 | ) | $ | (17,643,728 | ) | $ | (17,351,527 | ) | $ | 292,201 | ||||||||
Swiss Franc | 05/08/18 | Morgan Stanley | (19,690,916 | ) | (20,620,120 | ) | (19,905,577 | ) | 714,543 | |||||||||||
Danish Krone | 05/08/18 | Morgan Stanley | (27,644,850 | ) | (4,572,870 | ) | (4,485,850 | ) | 87,020 | |||||||||||
Euro | 05/08/18 | Morgan Stanley | (68,338,898 | ) | (84,280,484 | ) | (82,617,323 | ) | 1,663,161 | |||||||||||
British Pound | 05/08/18 | Morgan Stanley | (33,061,314 | ) | (46,438,715 | ) | (45,554,630 | ) | 884,085 | |||||||||||
Hong Kong Dollar | 05/08/18 | Morgan Stanley | (75,408,709 | ) | (9,620,851 | ) | (9,610,471 | ) | 10,380 | |||||||||||
Israeli Shekel | 05/08/18 | Morgan Stanley | (4,331,896 | ) | (1,236,253 | ) | (1,204,602 | ) | 31,651 | |||||||||||
Japanese Yen | 05/08/18 | Morgan Stanley | (7,192,379,172 | ) | (67,803,444 | ) | (65,765,130 | ) | 2,038,314 | |||||||||||
South Korean Won | 05/08/18 | Morgan Stanley | (15,147,473,050 | ) | (14,251,683 | ) | (14,185,200 | ) | 66,483 | |||||||||||
Norwegian Krone | 05/08/18 | Morgan Stanley | (13,680,695 | ) | (1,745,673 | ) | (1,708,194 | ) | 37,479 | |||||||||||
New Zealand Dollar | 05/08/18 | Morgan Stanley | (780,925 | ) | (563,493 | ) | (550,221 | ) | 13,272 | |||||||||||
Swedish Krona | 05/08/18 | Morgan Stanley | (58,658,752 | ) | (7,027,017 | ) | (6,713,397 | ) | 313,620 | |||||||||||
Singapore Dollar | 05/08/18 | Morgan Stanley | (4,606,259 | ) | (3,516,532 | ) | (3,479,498 | ) | 37,034 | |||||||||||
Unrealized Appreciation | $ | (279,320,863 | ) | $ | (273,131,620 | ) | $ | 6,189,243 | ||||||||||||
Total Unrealized Appreciation | $ | 6,337,696 |
Purchased Contracts | Settlement Date | Counterparty | Currency Amount Purchased | Value at Settlement Date | Value at April 30, 2018 | Unrealized (Depreciation) | ||||||||||||||
Swiss Franc | 05/08/18 | Morgan Stanley | 58,504 | $ | 61,390 | $ | 59,142 | $ | (2,248 | ) | ||||||||||
Euro | 05/08/18 | Morgan Stanley | 206,901 | 255,118 | 250,130 | (4,988 | ) | |||||||||||||
British Pound | 05/08/18 | Morgan Stanley | 138,098 | 194,135 | 190,283 | (3,852 | ) | |||||||||||||
Unrealized Depreciation | $ | 510,643 | $ | 499,555 | $ | (11,088 | ) |
Sold Contracts | Settlement Date | Counterparty | Currency Amount Sold | Value at Settlement Date | Value at April 30, 2018 | Unrealized (Depreciation) | ||||||||||||||||||
Australian Dollar | 06/07/18 | Morgan Stanley | (24,347,324 | ) | $ | (18,372,600 | ) | $ | (18,380,337 | ) | $ | (7,737 | ) | |||||||||||
Swiss Franc | 06/07/18 | Morgan Stanley | (20,252,198 | ) | (20,509,593 | ) | (20,527,044 | ) | (17,451 | ) | ||||||||||||||
Danish Krone | 06/07/18 | Morgan Stanley | (27,177,224 | ) | (4,418,463 | ) | (4,420,594 | ) | (2,131 | ) | ||||||||||||||
Euro | 06/07/18 | Morgan Stanley | (72,242,658 | ) | (87,467,830 | ) | (87,540,413 | ) | (72,583 | ) | ||||||||||||||
British Pound | 06/07/18 | Morgan Stanley | (35,497,213 | ) | (48,957,046 | ) | (48,983,456 | ) | (26,410 | ) | ||||||||||||||
Hong Kong Dollar | 06/07/18 | Morgan Stanley | (78,266,435 | ) | (9,978,551 | ) | (9,982,264 | ) | (3,713 | ) | ||||||||||||||
Israeli Shekel | 06/07/18 | Morgan Stanley | (4,545,307 | ) | (1,264,859 | ) | (1,266,261 | ) | (1,402 | ) | ||||||||||||||
Japanese Yen | 06/07/18 | Morgan Stanley | (7,508,291,568 | ) | (68,745,288 | ) | (68,797,965 | ) | (52,677 | ) | ||||||||||||||
South Korean Won | 06/07/18 | Morgan Stanley | (15,660,799,625 | ) | (14,648,583 | ) | (14,678,194 | ) | (29,611 | ) | ||||||||||||||
Norwegian Krone | 06/07/18 | Morgan Stanley | (14,281,375 | ) | (1,784,062 | ) | (1,785,125 | ) | (1,063 | ) | ||||||||||||||
New Zealand Dollar | 06/07/18 | Morgan Stanley | (824,697 | ) | (580,620 | ) | (581,007 | ) | (387 | ) | ||||||||||||||
Swedish Krona | 06/07/18 | Morgan Stanley | (60,825,774 | ) | (6,972,922 | ) | (6,977,950 | ) | (5,028 | ) | ||||||||||||||
Singapore Dollar | 06/07/18 | Morgan Stanley | (4,975,698 | ) | $ | (3,759,136 | ) | $ | (3,761,046 | ) | $ | (1,910 | ) | |||||||||||
Unrealized Depreciation | $ | (287,459,553 | ) | $ | (287,681,656 | ) | $ | (222,103 | ) | |||||||||||||||
Total Unrealized Depreciation | $ | (233,191 | ) | |||||||||||||||||||||
Net Unrealized Appreciation (Depreciation) | $ | 6,104,505 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2018
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(g) | ||||||||||||||||||
Common Stocks | ||||||||||||||||||
Australia | $ | 37,071,718 | $ | — | $ | — | $ | 37,071,718 | ||||||||||
Austria | 1,553,231 | — | — | 1,553,231 | ||||||||||||||
Belgium | 5,990,744 | — | — | 5,990,744 | ||||||||||||||
Chile | 179,029 | — | — | 179,029 | ||||||||||||||
China | 1,760,825 | — | — | 1,760,825 | ||||||||||||||
Denmark | 8,814,259 | — | — | 8,814,259 | ||||||||||||||
Finland | 5,670,843 | — | — | 5,670,843 | ||||||||||||||
France | 55,528,414 | — | — | 55,528,414 | ||||||||||||||
Germany | 48,040,969 | — | — | 48,040,969 | ||||||||||||||
Hong Kong | 18,208,227 | — | — | 18,208,227 | ||||||||||||||
Ireland | 3,328,710 | — | — | 3,328,710 | ||||||||||||||
Israel | 2,526,645 | — | — | 2,526,645 | ||||||||||||||
Italy | 13,355,313 | — | — | 13,355,313 | ||||||||||||||
Japan | 137,196,532 | — | — | 137,196,532 | ||||||||||||||
Jersey | 295,973 | — | — | 295,973 | ||||||||||||||
Kazakhstan | 133,199 | — | — | 133,199 | ||||||||||||||
Luxembourg | 1,753,935 | — | — | 1,753,935 | ||||||||||||||
Macau | 847,342 | — | — | 847,342 | ||||||||||||||
Netherlands | 24,478,990 | — | — | 24,478,990 | ||||||||||||||
New Zealand | 1,162,163 | — | — | 1,162,163 | ||||||||||||||
Norway | 3,565,397 | — | — | 3,565,397 | ||||||||||||||
Portugal | 795,778 | — | — | 795,778 | ||||||||||||||
Russia | 221,181 | — | — | 221,181 | ||||||||||||||
Singapore | 7,515,877 | — | — | 7,515,877 | ||||||||||||||
South Africa | 681,467 | — | — | 681,467 | ||||||||||||||
South Korea | 19,924,511 | 8,296,990 | — | 28,221,501 | ||||||||||||||
Spain | 17,448,986 | — | — | 17,448,986 | ||||||||||||||
Sweden | 13,914,165 | — | — | 13,914,165 | ||||||||||||||
Switzerland | 44,169,748 | — | — | 44,169,748 | ||||||||||||||
United Arab Emirates | 241,296 | — | — | 241,296 | ||||||||||||||
United Kingdom | 83,602,073 | — | 5,687 | 83,607,760 | ||||||||||||||
United States | 2,659,298 | — | — | 2,659,298 | ||||||||||||||
Total Common Stocks | 562,636,838 | 8,296,990 | 5,687 | (h) | 570,939,515 | |||||||||||||
Preferred Stocks | ||||||||||||||||||
Germany | 3,073,697 | — | — | 3,073,697 | ||||||||||||||
South Korea | — | 992,814 | — | 992,814 | ||||||||||||||
Total Preferred Stocks | 3,073,697 | 992,814 | — | 4,066,511 | ||||||||||||||
Rights | — | — | — | (h)(l) | — | |||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 312,496 | — | — | 312,496 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 9,366,228 | — | — | 9,366,228 | ||||||||||||||
Total Investments in Securities | 575,389,259 | 9,289,804 | 5,687 | (h) | 584,684,750 | |||||||||||||
Other Financial Instruments:(i) | ||||||||||||||||||
Forward Foreign Currency Contracts | — | 6,337,696 | — | 6,337,696 | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 575,389,259 | $ | 15,627,500 | $ | 5,687 | (h) | $ | 591,022,446 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
April 30, 2018
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(i) | ||||||||||||||||||
Forward Foreign Currency Contracts | $ | — | $ | 233,191 | $ | — | $ | 233,191 | ||||||||||
Total Other Financial Instruments | $ | — | $ | 233,191 | $ | — | $ | 233,191 |
(g) | For a complete listing of investments and their countries, see the Schedules of Investments. |
(h) | The Level 3 securities, valued at $5,687, 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 | Accrued | Realized | Change in | Purchases | Sales | Transfers | Transfers | Balance | Change in | ||||||||||||||||||||||||||||||
Common Stocks: | ||||||||||||||||||||||||||||||||||||||||
Rolls-Royce Holdings PLC, Class C(k) | $ | — | $ | — | $ | — | $ | (66 | ) | $ | 5,753 | $ | — | $ | — | $ | — | $ | 5,687 | $ | (66 | ) | ||||||||||||||||||
Hyundai Heavy Industries Co. Ltd. | 129,488 | — | — | — | — | — | — | (129,488 | ) | — | — | |||||||||||||||||||||||||||||
Rights: | ||||||||||||||||||||||||||||||||||||||||
Fletcher Building Ltd.(k) | — | (l) | — | — | — | — | — | — | — | — | (l) | — | ||||||||||||||||||||||||||||
Total | $ | 129,488 | $ | — | $ | — | $ | (66 | ) | $ | 5,753 | $ | — | $ | — | $ | (129,488 | ) | $ | 5,687 | $ | (66 | ) |
Security Type | Fair Value | Valuation Technique | Unobservable Inputs | |||||||
Common Stocks | $ | 5,687 | Peer Analysis | Comparable Securities | ||||||
Rights | — | (l) | Issuer Specific Facts | Contingent Payment Terms |
(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. |
(l) | Includes a Level 3 security valued at $ —. |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF
April 30, 2018
Shares | Value | |||||||||
Common Stocks — 98.9% | ||||||||||
Australia — 0.5% | ||||||||||
BHP Billiton PLC | 36,176 | $ | 769,329 | |||||||
Austria — 0.5% | ||||||||||
ams AG* | 939 | 78,144 | ||||||||
ANDRITZ AG | 1,226 | 66,005 | ||||||||
Erste Group Bank AG* | 4,993 | 244,921 | ||||||||
OMV AG | 2,467 | 153,502 | ||||||||
Raiffeisen Bank International AG* | 2,248 | 76,049 | ||||||||
Telekom Austria AG* | 2,346 | 22,392 | ||||||||
Vienna Insurance Group AG Wiener Versicherung Gruppe | 659 | 21,482 | ||||||||
voestalpine AG | 1,972 | 104,142 | ||||||||
Total Austria | 766,637 | |||||||||
Belgium — 1.7% | ||||||||||
Ackermans & van Haaren NV | 387 | 70,042 | ||||||||
Ageas | 3,295 | 176,956 | ||||||||
Anheuser-Busch InBev SA/NV(a) | 13,215 | 1,320,737 | ||||||||
bpost SA | 1,717 | 37,693 | ||||||||
Colruyt SA | 1,116 | 62,941 | ||||||||
Groupe Bruxelles Lambert SA | 1,251 | 143,528 | ||||||||
KBC Group NV | 4,796 | 419,524 | ||||||||
Proximus SADP | 2,433 | 74,753 | ||||||||
Sofina SA | 262 | 45,836 | ||||||||
Solvay SA | 1,205 | 168,300 | ||||||||
Telenet Group Holding NV* | 826 | 48,462 | ||||||||
UCB SA | 2,097 | 159,008 | ||||||||
Umicore SA | 3,569 | 199,476 | ||||||||
Total Belgium | 2,927,256 | |||||||||
Chile — 0.0%(b) | ||||||||||
Antofagasta PLC | 6,024 | 80,682 | ||||||||
Denmark — 2.6% | ||||||||||
AP Moller — Maersk A/S, Class A | 76 | 116,650 | ||||||||
AP Moller — Maersk A/S, Class B | 113 | 182,437 | ||||||||
Carlsberg A/S, Class B(a) | 1,832 | 205,402 | ||||||||
Chr Hansen Holding A/S | 1,532 | 139,421 | ||||||||
Coloplast A/S, Class B | 2,306 | 195,948 | ||||||||
Danske Bank A/S | 12,016 | 419,717 | ||||||||
DSV A/S | 3,194 | 253,950 | ||||||||
Genmab A/S* | 959 | 194,703 | ||||||||
H Lundbeck A/S | 1,016 | 59,148 | ||||||||
ISS A/S | 3,208 | 112,367 | ||||||||
Jyske Bank A/S | 1,205 | 72,476 | ||||||||
Novo Nordisk A/S, Class B | 30,607 | 1,448,294 | ||||||||
Novozymes A/S, Class B | 3,728 | 176,224 | ||||||||
Orsted A/S‡ | 2,820 | 186,166 | ||||||||
Pandora A/S(a) | 1,852 | 206,444 | ||||||||
Rockwool International A/S, Class B | 108 | 32,645 | ||||||||
Tryg A/S | 2,073 | 49,248 | ||||||||
Vestas Wind Systems A/S | 3,545 | 230,062 | ||||||||
William Demant Holding A/S* | 1,966 | 76,897 | ||||||||
Total Denmark | 4,358,199 | |||||||||
Finland — 1.7% | ||||||||||
Elisa OYJ | 2,489 | 110,425 | ||||||||
Fortum OYJ | 7,508 | 173,350 | ||||||||
Huhtamaki OYJ | 1,587 | 64,885 | ||||||||
Kesko OYJ, Class B | 1,160 | 68,254 | ||||||||
Kone OYJ, Class B | 6,625 | 330,258 | ||||||||
Metso OYJ | 1,796 | 64,208 | ||||||||
Neste OYJ | 2,189 | 184,868 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Finland (continued) | ||||||||||
Nokia OYJ | 94,005 | $ | 565,385 | |||||||
Nokian Renkaat OYJ | 2,322 | 93,281 | ||||||||
Orion OYJ, Class B | 1,735 | 52,783 | ||||||||
Sampo OYJ, Class A | 8,148 | 440,537 | ||||||||
Stora Enso OYJ, Class R | 8,263 | 164,076 | ||||||||
UPM-Kymmene OYJ | 9,280 | 332,775 | ||||||||
Wartsila OYJ Abp | 8,063 | 171,941 | ||||||||
Total Finland | 2,817,026 | |||||||||
France — 16.4% | ||||||||||
Accor SA | 3,514 | 198,992 | ||||||||
Aeroports de Paris | 493 | 108,645 | ||||||||
Air France-KLM* | 3,669 | 36,075 | ||||||||
Air Liquide SA | 7,305 | 953,638 | ||||||||
Airbus SE | 9,509 | 1,119,006 | ||||||||
ALD SA‡* | 1,387 | 23,494 | ||||||||
Alstom SA | 2,680 | 122,104 | ||||||||
Amundi SA‡ | 849 | 72,296 | ||||||||
Arkema SA | 1,239 | 162,420 | ||||||||
Atos SE | 1,581 | 213,747 | ||||||||
AXA SA | 32,917 | 943,351 | ||||||||
BioMerieux | 710 | 56,273 | ||||||||
BNP Paribas SA | 18,788 | 1,452,324 | ||||||||
Bollore SA | 17,050 | 84,830 | ||||||||
Bouygues SA | 3,561 | 181,776 | ||||||||
Bureau Veritas SA | 4,431 | 115,904 | ||||||||
Capgemini SE | 2,687 | 370,093 | ||||||||
Carrefour SA | 9,557 | 196,699 | ||||||||
Casino Guichard Perrachon SA | 971 | 50,399 | ||||||||
Cie de Saint-Gobain | 8,620 | 452,986 | ||||||||
Cie Generale des Etablissements Michelin | 3,074 | 432,867 | ||||||||
Cie Plastic Omnium SA | 959 | 46,161 | ||||||||
CNP Assurances* | 2,763 | 70,905 | ||||||||
Credit Agricole SA | 19,807 | 326,297 | ||||||||
Danone SA | 10,179 | 825,090 | ||||||||
Dassault Aviation SA | 40 | 79,983 | ||||||||
Dassault Systemes SE | 2,249 | 291,424 | ||||||||
Edenred | 4,039 | 139,078 | ||||||||
Eiffage SA | 1,290 | 153,832 | ||||||||
Electricite de France SA | 8,414 | 118,431 | ||||||||
Elior Group SA‡ | 2,249 | 46,003 | ||||||||
Elis SA | 3,294 | 78,880 | ||||||||
Engie SA | 28,635 | 503,383 | ||||||||
Essilor International SA | 3,537 | 483,108 | ||||||||
Eurazeo SA | 755 | 66,408 | ||||||||
Eutelsat Communications SA | 2,954 | 64,028 | ||||||||
Faurecia | 1,276 | 104,525 | ||||||||
Fonciere Des Regions | 691 | 77,350 | ||||||||
Gecina SA | 805 | 139,665 | ||||||||
Getlink | 7,857 | 110,971 | ||||||||
Hermes International | 538 | 348,276 | ||||||||
ICADE* | 605 | 60,195 | ||||||||
Iliad SA | 416 | 83,408 | ||||||||
Imerys SA | 627 | 57,270 | ||||||||
Ingenico Group SA | 971 | 84,937 | ||||||||
Ipsen SA | 595 | 96,689 | ||||||||
JCDecaux SA | 1,243 | 44,483 | ||||||||
Kering | 1,291 | 748,073 | ||||||||
Klepierre SA | 3,498 | 143,356 | ||||||||
Lagardere SCA | 1,971 | 56,391 | ||||||||
Legrand SA | 4,633 | 361,044 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
France (continued) | ||||||||||
L’Oreal SA | 4,183 | $ | 1,004,968 | |||||||
LVMH Moet Hennessy Louis Vuitton SE | 4,329 | 1,513,124 | ||||||||
Natixis SA | 14,533 | 119,610 | ||||||||
Orange SA | 33,315 | 608,396 | ||||||||
Orpea | 784 | 100,738 | ||||||||
Pernod Ricard SA | 3,681 | 611,737 | ||||||||
Peugeot SA | 7,662 | 189,033 | ||||||||
Publicis Groupe SA | 3,567 | 267,198 | ||||||||
Remy Cointreau SA | 421 | 58,037 | ||||||||
Renault SA | 3,207 | 348,103 | ||||||||
Rexel SA | 5,258 | 81,632 | ||||||||
Rubis SCA | 1,330 | 103,645 | ||||||||
Safran SA | 5,061 | 595,938 | ||||||||
Sanofi | 19,001 | 1,510,341 | ||||||||
Sartorius Stedim Biotech | 411 | 38,435 | ||||||||
Schneider Electric SE* | 9,206 | 837,316 | ||||||||
SCOR SE | 2,709 | 110,137 | ||||||||
SEB SA | 470 | 90,232 | ||||||||
Societe BIC SA | 441 | 44,996 | ||||||||
Societe Generale SA | 12,753 | 700,378 | ||||||||
Sodexo SA | 1,543 | 153,055 | ||||||||
Suez | 6,422 | 92,798 | ||||||||
Teleperformance | 995 | 159,767 | ||||||||
Thales SA | 1,731 | 219,596 | ||||||||
TOTAL SA | 39,279 | 2,483,418 | ||||||||
Ubisoft Entertainment SA* | 1,520 | 145,558 | ||||||||
Unibail-Rodamco SE | 1,725 | 414,536 | ||||||||
Valeo SA | 4,139 | 277,241 | ||||||||
Veolia Environnement SA* | 8,500 | 201,851 | ||||||||
Vinci SA | 8,082 | 811,444 | ||||||||
Vivendi SA | 18,581 | 491,421 | ||||||||
Wendel SA | 483 | 73,062 | ||||||||
Worldline SA‡* | 681 | 34,376 | ||||||||
Total France | 27,649,680 | |||||||||
Germany — 14.2% | ||||||||||
1&1 Drillisch AG | 791 | 57,437 | ||||||||
adidas AG | 3,443 | 848,189 | ||||||||
Allianz SE | 7,608 | 1,805,857 | ||||||||
Axel Springer SE | 764 | 62,630 | ||||||||
BASF SE | 15,931 | 1,661,472 | ||||||||
Bayer AG | 14,404 | 1,727,760 | ||||||||
Bayerische Motoren Werke AG | 5,589 | 624,415 | ||||||||
Beiersdorf AG | 1,736 | 196,991 | ||||||||
Brenntag AG | 2,691 | 154,500 | ||||||||
Carl Zeiss Meditec AG | 405 | 27,549 | ||||||||
CECONOMY AG | 2,789 | 31,324 | ||||||||
Commerzbank AG* | 18,106 | 234,288 | ||||||||
Continental AG | 1,881 | 502,704 | ||||||||
Covestro AG‡ | 2,644 | 241,375 | ||||||||
Daimler AG | 16,773 | 1,327,366 | ||||||||
Delivery Hero AG‡* | �� | 1,861 | 89,039 | |||||||
Deutsche Bank AG | 32,321 | 443,845 | ||||||||
Deutsche Boerse AG | 3,254 | 438,950 | ||||||||
Deutsche Lufthansa AG | 4,082 | 119,203 | ||||||||
Deutsche Post AG | 16,853 | 735,060 | ||||||||
Deutsche Telekom AG | 56,196 | 984,152 | ||||||||
Deutsche Wohnen SE | 6,178 | 292,151 | ||||||||
E.ON SE | 35,852 | 392,966 | ||||||||
Evonik Industries AG | 2,602 | 92,677 | ||||||||
Fielmann AG | 418 | 34,392 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Germany (continued) | ||||||||||
Fraport AG Frankfurt Airport Services Worldwide | 610 | $ | 59,255 | |||||||
Fresenius Medical Care AG & Co. KGaA | 3,696 | 376,353 | ||||||||
Fresenius SE & Co. KGaA | 7,040 | 538,753 | ||||||||
FUCHS PETROLUB SE | 576 | 29,716 | ||||||||
GEA Group AG | 2,904 | 113,714 | ||||||||
Hannover Rueck SE | 1,045 | 147,215 | ||||||||
Hapag-Lloyd AG‡* | 628 | 27,012 | ||||||||
HeidelbergCement AG | 2,588 | 254,085 | ||||||||
Hella GmbH & Co. KGaA | 763 | 47,245 | ||||||||
Henkel AG & Co. KGaA | 2,034 | 242,676 | ||||||||
HOCHTIEF AG | 333 | 60,993 | ||||||||
HUGO BOSS AG | 1,116 | 104,902 | ||||||||
Infineon Technologies AG | 19,671 | 505,751 | ||||||||
Innogy SE‡ | 2,226 | 98,246 | ||||||||
K+S AG | 3,334 | 98,327 | ||||||||
KION Group AG | 1,226 | 102,651 | ||||||||
LANXESS AG | 1,594 | 118,557 | ||||||||
LEG Immobilien AG | 1,101 | 127,090 | ||||||||
Linde AG* | 3,233 | 718,919 | ||||||||
MAN SE | 613 | 70,730 | ||||||||
Merck KGaA | 2,250 | 220,792 | ||||||||
METRO AG | 2,890 | 41,953 | ||||||||
MTU Aero Engines AG | 895 | 154,631 | ||||||||
Muenchener Rueckversicherungs-Gesellschaft AG | 2,386 | 547,581 | ||||||||
OSRAM Licht AG | 1,667 | 96,212 | ||||||||
ProSiebenSat.1 Media SE | 3,986 | 144,958 | ||||||||
Puma SE | 34 | 16,616 | ||||||||
Rational AG | 57 | 35,777 | ||||||||
Rheinmetall AG | 744 | 97,666 | ||||||||
RWE AG | 8,424 | 202,285 | ||||||||
SAP SE | 15,818 | 1,766,266 | ||||||||
Siemens AG | 13,233 | 1,688,983 | ||||||||
Siemens Healthineers AG‡* | 2,271 | 88,584 | ||||||||
STADA Arzneimittel AG | 386 | 39,100 | ||||||||
Suedzucker AG | 1,332 | 22,193 | ||||||||
Symrise AG | 2,105 | 170,653 | ||||||||
Talanx AG | 651 | 29,401 | ||||||||
Telefonica Deutschland Holding AG | 11,459 | 54,839 | ||||||||
thyssenkrupp AG | 8,097 | 211,308 | ||||||||
TUI AG | 7,567 | 171,501 | ||||||||
Uniper SE | 3,401 | 105,480 | ||||||||
United Internet AG | 2,028 | 131,773 | ||||||||
Volkswagen AG | 509 | 104,177 | ||||||||
Vonovia SE | 8,450 | 424,808 | ||||||||
Wacker Chemie AG | 258 | 46,601 | ||||||||
Wirecard AG | 1,989 | 271,792 | ||||||||
Zalando SE‡* | 1,826 | 94,314 | ||||||||
Total Germany | 23,948,726 | |||||||||
Ireland — 0.9% | ||||||||||
AIB Group PLC | 11,820 | 70,576 | ||||||||
Bank of Ireland Group PLC | 15,972 | 143,766 | ||||||||
CRH PLC(c) | 14,547 | 517,137 | ||||||||
Glanbia PLC | 3,380 | 57,213 | ||||||||
Kerry Group PLC, Class A(a) | 2,534 | 258,703 | ||||||||
Kingspan Group PLC | 2,589 | 117,301 | ||||||||
Paddy Power Betfair PLC | 1,437 | 142,110 | ||||||||
Smurfit Kappa Group PLC | 4,125 | 175,788 | ||||||||
Total Ireland | 1,482,594 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Italy — 3.9% | ||||||||||
A2A SpA | 26,484 | $ | 53,357 | |||||||
Assicurazioni Generali SpA(a) | 22,778 | 460,691 | ||||||||
Atlantia SpA | 9,254 | 307,469 | ||||||||
Banca Mediolanum SpA | 4,281 | 34,448 | ||||||||
Banco BPM SpA* | 26,391 | 96,183 | ||||||||
Buzzi Unicem SpA | 1,221 | 30,920 | ||||||||
Buzzi Unicem SpA-RSP | 687 | 9,877 | ||||||||
Davide Campari-Milano SpA | 9,860 | 74,098 | ||||||||
Enel SpA | 135,324 | 861,309 | ||||||||
Eni SpA | 43,545 | 852,299 | ||||||||
Ferrari NV | 2,188 | 269,773 | ||||||||
FinecoBank Banca Fineco SpA | 6,817 | 81,572 | ||||||||
Intesa Sanpaolo SpA | 235,789 | 899,366 | ||||||||
Intesa Sanpaolo SpA-RSP | 16,008 | 63,554 | ||||||||
Italgas SpA | 8,397 | 54,439 | ||||||||
Leonardo SpA | 6,736 | 78,210 | ||||||||
Luxottica Group SpA | 2,703 | 169,036 | ||||||||
Mediaset SpA*(a) | 5,913 | 23,540 | ||||||||
Mediobanca SpA | 10,085 | 122,639 | ||||||||
Moncler SpA | 2,799 | 126,613 | ||||||||
Parmalat SpA | 3,267 | 11,920 | ||||||||
Pirelli & C SpA‡* | 6,333 | 55,122 | ||||||||
Poste Italiane SpA‡ | 8,032 | 78,663 | ||||||||
Prysmian SpA | 3,682 | 108,457 | ||||||||
Recordati SpA | 1,708 | 61,186 | ||||||||
Saipem SpA* | 9,784 | 37,520 | ||||||||
Salvatore Ferragamo SpA(a) | 740 | 21,923 | ||||||||
Snam SpA | 41,165 | 198,196 | ||||||||
Telecom Italia SpA*(a) | 198,609 | 196,335 | ||||||||
Telecom Italia SpA-RSP | 104,996 | 90,448 | ||||||||
Terna Rete Elettrica Nazionale SpA | 24,560 | 147,684 | ||||||||
UniCredit SpA | 38,769 | 841,914 | ||||||||
Unione di Banche Italiane SpA(a) | 17,090 | 88,271 | ||||||||
UnipolSai SpA | 13,068 | 35,209 | ||||||||
Total Italy | 6,642,241 | |||||||||
Jersey — 0.1% | ||||||||||
Randgold Resources Ltd. | 1,623 | 131,176 | ||||||||
Jordan — 0.0%(b) | ||||||||||
Hikma Pharmaceuticals PLC | 2,392 | 42,435 | ||||||||
Kazakhstan — 0.0%(b) | ||||||||||
KAZ Minerals PLC* | 3,991 | 50,594 | ||||||||
Luxembourg — 0.4% | ||||||||||
ArcelorMittal* | 10,458 | 354,990 | ||||||||
Eurofins Scientific SE | 171 | 92,517 | ||||||||
RTL Group SA | 657 | 54,176 | ||||||||
SES SA(a) | 6,111 | 94,506 | ||||||||
Tenaris SA | 8,133 | 152,995 | ||||||||
Total Luxembourg | 749,184 | |||||||||
Mexico — 0.0%(b) | ||||||||||
Fresnillo PLC | 3,163 | 55,546 | ||||||||
Netherlands — 7.2% | ||||||||||
Aalberts Industries NV | 1,673 | 82,551 | ||||||||
ABN AMRO Group NV‡ | 7,204 | 223,951 | ||||||||
Aegon NV | 30,662 | 225,683 | ||||||||
Akzo Nobel NV | 4,390 | 397,269 | ||||||||
Altice NV, Class A* | 8,922 | 85,568 | ||||||||
Altice NV, Class B* | 970 | 9,288 | ||||||||
ASML Holding NV | 7,069 | 1,345,170 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Netherlands (continued) | ||||||||||
ASR Nederland NV | 2,467 | $ | 116,721 | |||||||
Boskalis Westminster NV | 1,386 | 41,144 | ||||||||
EXOR NV | 1,858 | 138,147 | ||||||||
Gemalto NV | 1,431 | 86,239 | ||||||||
GrandVision NV‡ | 835 | 20,581 | ||||||||
Heineken Holding NV | 1,839 | 187,082 | ||||||||
Heineken NV | 4,100 | 432,451 | ||||||||
ING Groep NV | 67,652 | 1,142,358 | ||||||||
Koninklijke Ahold Delhaize NV | 21,561 | 521,130 | ||||||||
Koninklijke DSM NV | 3,050 | 316,247 | ||||||||
Koninklijke KPN NV | 52,800 | 164,394 | ||||||||
Koninklijke Philips NV | 16,133 | 686,309 | ||||||||
Koninklijke Vopak NV | 1,135 | 56,086 | ||||||||
NN Group NV | 5,871 | 281,535 | ||||||||
OCI NV* | 1,650 | 39,293 | ||||||||
Philips Lighting NV‡ | 1,885 | 57,483 | ||||||||
Randstad NV | 1,915 | 123,505 | ||||||||
Royal Dutch Shell PLC, Class A(c) | 80,068 | 2,791,228 | ||||||||
Royal Dutch Shell PLC, Class B(c) | 65,236 | 2,337,520 | ||||||||
Wolters Kluwer NV(a) | 4,771 | 258,415 | ||||||||
Total Netherlands | 12,167,348 | |||||||||
Norway — 1.1% | ||||||||||
Aker BP ASA | 1,855 | 61,177 | ||||||||
DNB ASA(a) | 18,725 | 351,893 | ||||||||
Gjensidige Forsikring ASA | 2,849 | 45,236 | ||||||||
Marine Harvest ASA | 7,029 | 153,239 | ||||||||
Norsk Hydro ASA | 23,206 | 145,010 | ||||||||
Orkla ASA | 13,511 | 125,377 | ||||||||
Schibsted ASA, Class A | 1,366 | 40,003 | ||||||||
Schibsted ASA, Class B | 1,677 | 45,216 | ||||||||
Statoil ASA(a) | 16,963 | 435,133 | ||||||||
Telenor ASA | 11,832 | 262,602 | ||||||||
Yara International ASA | 3,036 | 128,472 | ||||||||
Total Norway | 1,793,358 | |||||||||
Portugal — 0.2% | ||||||||||
EDP — Energias de Portugal SA(a) | 39,441 | 146,579 | ||||||||
Galp Energia SGPS SA | 8,954 | 172,172 | ||||||||
Jeronimo Martins SGPS SA | 4,241 | 74,503 | ||||||||
Total Portugal | 393,254 | |||||||||
Russia — 0.1% | ||||||||||
Evraz PLC | 8,314 | 52,470 | ||||||||
Polymetal International PLC | 4,412 | 44,324 | ||||||||
Total Russia | 96,794 | |||||||||
South Africa — 0.2% | ||||||||||
Investec PLC | 11,063 | 87,982 | ||||||||
Mediclinic International PLC | 6,708 | 61,995 | ||||||||
Mondi PLC | 6,378 | 177,979 | ||||||||
Total South Africa | 327,956 | |||||||||
Spain — 5.1% | ||||||||||
Abertis Infraestructuras SA | 10,795 | 238,156 | ||||||||
Acciona SA | 438 | 36,736 | ||||||||
Acerinox SA | 2,425 | 34,118 | ||||||||
ACS Actividades de Construccion y Servicios SA | 4,234 | 179,197 | ||||||||
Aena SME SA‡ | 1,110 | 229,462 | ||||||||
Amadeus IT Group SA | 7,195 | 527,665 | ||||||||
Banco Bilbao Vizcaya Argentaria SA | 115,949 | 942,802 | ||||||||
Banco de Sabadell SA | 97,532 | 191,664 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Spain (continued) | ||||||||||
Banco Santander SA | 276,776 | $ | 1,796,734 | |||||||
Bankia SA | 21,156 | 93,220 | ||||||||
Bankinter SA | 11,920 | 125,007 | ||||||||
CaixaBank SA | 62,468 | 304,839 | ||||||||
Cellnex Telecom SA‡ | 2,661 | 71,502 | ||||||||
Corp. Financiera Alba SA | 348 | 21,695 | ||||||||
Distribuidora Internacional de Alimentacion SA | 10,495 | 48,818 | ||||||||
EDP Renovaveis SA | 2,606 | 25,063 | ||||||||
Enagas SA | 3,945 | 115,060 | ||||||||
Endesa SA | 5,514 | 129,043 | ||||||||
Ferrovial SA | 8,251 | 176,798 | ||||||||
Gas Natural SDG SA | 5,377 | 135,842 | ||||||||
Grifols SA | 5,757 | 162,413 | ||||||||
Grupo Catalana Occidente SA | 758 | 33,473 | ||||||||
Iberdrola SA | 99,212 | 769,072 | ||||||||
Industria de Diseno Textil SA(a) | 18,281 | 569,405 | ||||||||
Mapfre SA | 16,928 | 58,985 | ||||||||
Mediaset Espana Comunicacion SA | 3,035 | 29,166 | ||||||||
Merlin Properties Socimi SA | 5,833 | 90,207 | ||||||||
Red Electrica Corp. SA | 7,501 | 156,603 | ||||||||
Repsol SA | 20,647 | 395,389 | ||||||||
Siemens Gamesa Renewable Energy SA(a) | 3,837 | 66,131 | ||||||||
Telefonica SA | 78,930 | 804,198 | ||||||||
Zardoya Otis SA | 3,044 | 31,151 | ||||||||
Total Spain | 8,589,614 | |||||||||
Sweden — 4.1% | ||||||||||
Alfa Laval AB | 5,458 | 135,904 | ||||||||
Arjo AB, B Shares* | 3,828 | 11,318 | ||||||||
Assa Abloy AB, B Shares | 16,266 | 342,697 | ||||||||
Atlas Copco AB, A Shares | 10,941 | 430,607 | ||||||||
Atlas Copco AB, B Shares | 6,568 | 234,609 | ||||||||
Boliden AB | 4,762 | 166,014 | ||||||||
Electrolux AB | 3,855 | 101,986 | ||||||||
Essity AB, B Shares | 10,290 | 262,458 | ||||||||
Fastighets AB Balder, B Shares* | 1,662 | 43,037 | ||||||||
Getinge AB, B Shares | 3,828 | 35,754 | ||||||||
Hennes & Mauritz AB, B Shares | 16,429 | 281,527 | ||||||||
Hexagon AB, B Shares | 4,347 | 252,576 | ||||||||
Husqvarna AB, B Shares | 6,382 | 61,637 | ||||||||
ICA Gruppen AB | 1,336 | 41,640 | ||||||||
Industrivarden AB, A Shares | 3,617 | 79,803 | ||||||||
Industrivarden AB, C Shares | 2,867 | 60,714 | ||||||||
Investment AB Latour, B Shares | 2,059 | 22,655 | ||||||||
Investor AB, B Shares | 7,887 | 345,592 | ||||||||
Kinnevik AB, B Shares | 4,033 | 146,273 | ||||||||
L E Lundbergforetagen AB, B Shares | 632 | 43,010 | ||||||||
Lundin Petroleum AB* | 3,033 | 84,021 | ||||||||
Nordea Bank AB | 55,298 | 565,313 | ||||||||
Saab AB, B Shares | 718 | 29,523 | ||||||||
Sandvik AB | 18,682 | 320,519 | ||||||||
Securitas AB, B Shares | 5,586 | 90,725 | ||||||||
Skandinaviska Enskilda Banken AB, A Shares | 24,852 | 234,506 | ||||||||
Skandinaviska Enskilda Banken AB, C Shares(a) | 348 | 3,519 | ||||||||
Skanska AB, B Shares | 6,190 | 121,280 | ||||||||
SKF AB, B Shares | 6,602 | 134,449 | ||||||||
Svenska Cellulosa AB SCA, B Shares | 10,290 | 114,540 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Sweden (continued) | ||||||||||
Svenska Handelsbanken AB, A Shares | 25,414 | $ | 284,865 | |||||||
Svenska Handelsbanken AB, B Shares(a) | 605 | 7,238 | ||||||||
Swedbank AB, A Shares | 18,245 | 398,477 | ||||||||
Swedish Match AB | 3,092 | 139,340 | ||||||||
Tele2 AB, B Shares | 6,044 | 78,808 | ||||||||
Telefonaktiebolaget LM Ericsson, A Shares(a) | 626 | 4,804 | ||||||||
Telefonaktiebolaget LM Ericsson, B Shares | 51,405 | 395,107 | ||||||||
Telia Co. AB | 47,299 | 233,601 | ||||||||
Trelleborg AB, B Shares | 4,225 | 99,210 | ||||||||
Volvo AB, B Shares | 25,795 | 440,194 | ||||||||
Total Sweden | 6,879,850 | |||||||||
Switzerland — 13.0% | ||||||||||
ABB Ltd. | 33,577 | 788,291 | ||||||||
Adecco Group AG | 2,890 | 192,511 | ||||||||
Aryzta AG* | 1,451 | 30,811 | ||||||||
Baloise Holding AG | 802 | 127,766 | ||||||||
Banque Cantonale Vaudoise | 48 | 38,404 | ||||||||
Barry Callebaut AG | 33 | 59,573 | ||||||||
Chocoladefabriken Lindt & Spruengli AG* | 2 | 152,339 | ||||||||
Chocoladefabriken Lindt & Spruengli AG* | 18 | 116,012 | ||||||||
Cie Financiere Richemont SA | 8,862 | 846,541 | ||||||||
Clariant AG* | 3,392 | 78,846 | ||||||||
Coca-Cola HBC AG* | 3,393 | 114,217 | ||||||||
Credit Suisse Group AG* | 44,448 | 754,121 | ||||||||
DKSH Holding AG | 449 | 36,196 | ||||||||
Dufry AG* | 558 | 79,396 | ||||||||
EMS-Chemie Holding AG | 122 | 75,796 | ||||||||
Ferguson PLC | 4,332 | 332,941 | ||||||||
Flughafen Zurich AG | 330 | 69,340 | ||||||||
Geberit AG | 632 | 271,085 | ||||||||
Georg Fischer AG | 71 | 88,795 | ||||||||
Givaudan SA | 160 | 358,662 | ||||||||
Glencore PLC* | 202,798 | 979,588 | ||||||||
Helvetia Holding AG | 112 | 66,811 | ||||||||
Julius Baer Group Ltd.* | 3,758 | 224,895 | ||||||||
Kuehne + Nagel International AG | 871 | 136,382 | ||||||||
LafargeHolcim Ltd.* | 8,357 | 467,364 | ||||||||
Logitech International SA | 2,511 | 93,551 | ||||||||
Lonza Group AG* | 1,290 | 318,232 | ||||||||
Nestle SA | 53,964 | 4,196,534 | ||||||||
Novartis AG | 37,881 | 2,935,117 | ||||||||
OC Oerlikon Corp. AG* | 3,318 | 54,065 | ||||||||
Pargesa Holding SA | 483 | 45,450 | ||||||||
Partners Group Holding AG | 288 | 211,367 | ||||||||
PSP Swiss Property AG | 673 | 63,126 | ||||||||
Roche Holding AG | 12,076 | 2,694,196 | ||||||||
Roche Holding AG | 463 | 105,986 | ||||||||
Schindler Holding AG — Participating Certificate | 704 | 146,219 | ||||||||
Schindler Holding AG — Registered | 324 | 65,167 | ||||||||
SGS SA | 85 | 207,541 | ||||||||
Sika AG | 37 | 270,239 | ||||||||
Sonova Holding AG | 882 | 146,302 | ||||||||
STMicroelectronics NV | 10,876 | 238,104 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Switzerland (continued) | ||||||||||
Straumann Holding AG | 174 | $ | 119,088 | |||||||
Sulzer AG | 217 | 25,188 | ||||||||
Swatch Group AG (The) — Bearer | 523 | 252,809 | ||||||||
Swatch Group AG (The) — Registered | 798 | 71,464 | ||||||||
Swiss Life Holding AG* | 592 | 208,417 | ||||||||
Swiss Prime Site AG* | 1,230 | 115,619 | ||||||||
Swiss Re AG | 5,302 | 507,008 | ||||||||
Swisscom AG(a) | 389 | 187,446 | ||||||||
Temenos Group AG* | 1,023 | 129,490 | ||||||||
UBS Group AG* | 60,467 | 1,024,378 | ||||||||
Vifor Pharma AG | 901 | 143,128 | ||||||||
Zurich Insurance Group AG | 2,614 | 838,677 | ||||||||
Total Switzerland | 21,900,591 | |||||||||
United Arab Emirates — 0.0%(b) | ||||||||||
NMC Health PLC | 1,420 | 69,784 | ||||||||
United Kingdom — 24.3% | ||||||||||
3i Group PLC | 16,570 | 214,898 | ||||||||
Admiral Group PLC | 3,504 | 96,187 | ||||||||
Anglo American PLC(a)(c) | 17,178 | 404,446 | ||||||||
Ashmore Group PLC(a) | 6,573 | 37,282 | ||||||||
Ashtead Group PLC | 8,647 | 242,129 | ||||||||
Associated British Foods PLC | 6,050 | 225,323 | ||||||||
AstraZeneca PLC | 22,041 | 1,549,177 | ||||||||
Auto Trader Group PLC‡ | 16,206 | 78,794 | ||||||||
Aviva PLC(c) | 69,618 | 507,249 | ||||||||
B&M European Value Retail SA | 14,807 | 82,659 | ||||||||
Babcock International Group PLC | 4,339 | 43,974 | ||||||||
BAE Systems PLC(c) | 55,385 | 466,098 | ||||||||
Barclays PLC(c) | 295,480 | 843,465 | ||||||||
Barratt Developments PLC | 17,418 | 133,868 | ||||||||
Bellway PLC | 2,139 | 97,694 | ||||||||
Berkeley Group Holdings PLC | 2,187 | 122,659 | ||||||||
BP PLC | 335,318 | 2,484,754 | ||||||||
British American Tobacco PLC | 39,796 | 2,191,972 | ||||||||
British Land Co. PLC (The) | 17,126 | 158,609 | ||||||||
BT Group PLC(c) | 145,740 | 500,733 | ||||||||
Bunzl PLC | 5,838 | 169,745 | ||||||||
Burberry Group PLC | 7,217 | 181,262 | ||||||||
Capita PLC(a) | 11,345 | 29,932 | ||||||||
Capital & Counties Properties PLC | 12,534 | 49,771 | ||||||||
Centrica PLC | 97,305 | 206,127 | ||||||||
CNH Industrial NV | 16,721 | 206,872 | ||||||||
Cobham PLC* | 41,025 | 65,038 | ||||||||
Compass Group PLC | 27,488 | 590,625 | ||||||||
ConvaTec Group PLC‡ | 22,522 | 67,377 | ||||||||
Croda International PLC | 2,207 | 135,606 | ||||||||
CYBG PLC | 15,155 | 63,080 | ||||||||
DCC PLC | 1,547 | 149,153 | ||||||||
Derwent London PLC | 1,742 | 76,539 | ||||||||
Diageo PLC | 42,199 | 1,504,799 | ||||||||
Direct Line Insurance Group PLC | 23,951 | 123,478 | ||||||||
Dixons Carphone PLC | 17,103 | 47,820 | ||||||||
DS Smith PLC | 17,268 | 124,248 | ||||||||
easyJet PLC | 3,805 | 83,329 | ||||||||
Experian PLC | 15,943 | 366,058 | ||||||||
Fiat Chrysler Automobiles NV* | 18,950 | 425,167 | ||||||||
G4S PLC | 26,940 | 96,067 | ||||||||
GlaxoSmithKline PLC(c) | 84,100 | 1,692,814 | ||||||||
Halma PLC | 6,585 | 110,924 | ||||||||
Hammerson PLC | 13,804 | 104,381 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
United Kingdom (continued) | ||||||||||
Hargreaves Lansdown PLC | 4,573 | $ | 112,714 | |||||||
Hiscox Ltd. | 4,813 | 98,709 | ||||||||
Howden Joinery Group PLC | 10,163 | 66,729 | ||||||||
HSBC Holdings PLC(c) | 349,166 | 3,488,621 | ||||||||
IMI PLC | 4,665 | 70,165 | ||||||||
Imperial Brands PLC | 16,613 | 595,959 | ||||||||
Inchcape PLC | 7,253 | 72,577 | ||||||||
Informa PLC | 14,285 | 145,402 | ||||||||
Inmarsat PLC | 7,852 | 40,675 | ||||||||
InterContinental Hotels Group PLC | 3,304 | 208,835 | ||||||||
International Consolidated Airlines Group SA | 17,869 | 155,104 | ||||||||
Intertek Group PLC | 2,808 | 189,551 | ||||||||
Intu Properties PLC | 15,196 | 40,877 | ||||||||
ITV PLC | 64,838 | 135,430 | ||||||||
J Sainsbury PLC | 28,031 | 119,300 | ||||||||
John Wood Group PLC | 11,436 | 89,562 | ||||||||
Johnson Matthey PLC(c) | 3,305 | 149,948 | ||||||||
Just Eat PLC* | 9,987 | 106,441 | ||||||||
Kingfisher PLC | 37,735 | 157,898 | ||||||||
Land Securities Group PLC | 12,399 | 168,797 | ||||||||
Legal & General Group PLC(c) | 102,933 | 382,792 | ||||||||
Lloyds Banking Group PLC(c) | 1,241,638 | 1,105,796 | ||||||||
London Stock Exchange Group PLC | 5,442 | 322,308 | ||||||||
Marks & Spencer Group PLC | 28,282 | 112,071 | ||||||||
Meggitt PLC | 13,467 | 87,624 | ||||||||
Melrose Industries PLC(c) | 83,477 | 262,148 | ||||||||
Merlin Entertainments PLC‡ | 12,037 | 60,978 | ||||||||
Micro Focus International PLC | 7,446 | 128,505 | ||||||||
National Grid PLC | 58,987 | 684,739 | ||||||||
Next PLC | 2,384 | 172,586 | ||||||||
Old Mutual PLC | 82,688 | 286,548 | ||||||||
Pearson PLC | 13,651 | 156,773 | ||||||||
Pennon Group PLC | 7,232 | 68,950 | ||||||||
Persimmon PLC | 5,344 | 199,839 | ||||||||
Prudential PLC | 44,993 | 1,161,648 | ||||||||
Reckitt Benckiser Group PLC(c) | 10,832 | 850,707 | ||||||||
RELX NV | 15,374 | 327,196 | ||||||||
RELX PLC(c) | 18,258 | 390,920 | ||||||||
Rentokil Initial PLC | 31,999 | 135,307 | ||||||||
Rightmove PLC | 1,579 | 99,281 | ||||||||
Rio Tinto PLC(c) | 20,277 | 1,102,059 | ||||||||
Rolls-Royce Holdings PLC* | 28,578 | 330,640 | ||||||||
Rolls-Royce Holdings PLC, Class C*(d)(e) | 1,989,349 | 2,740 | ||||||||
Royal Bank of Scotland Group PLC* | 56,084 | 208,722 | ||||||||
Royal Mail PLC | 15,948 | 127,666 | ||||||||
RPC Group PLC | 6,968 | 75,896 | ||||||||
RSA Insurance Group PLC | 17,727 | 160,513 | ||||||||
Sage Group PLC (The) | 18,818 | 164,637 | ||||||||
Schroders PLC | 1,943 | 88,341 | ||||||||
Segro PLC | 17,351 | 154,431 | ||||||||
Severn Trent PLC | 4,109 | 109,795 | ||||||||
Sky PLC | 17,982 | 341,296 | ||||||||
Smith & Nephew PLC | 15,232 | 292,878 | ||||||||
Smiths Group PLC | 6,885 | 151,492 | ||||||||
Spirax-Sarco Engineering PLC | 1,276 | 101,320 | ||||||||
SSE PLC | 17,762 | 337,855 | ||||||||
St James’s Place PLC | 9,067 | 141,931 | ||||||||
Standard Chartered PLC(c) | 46,891 | 495,369 | ||||||||
Standard Life Aberdeen PLC | 47,154 | 237,253 | ||||||||
Tate & Lyle PLC | 7,964 | 63,029 | ||||||||
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
United Kingdom (continued) | �� | |||||||||
Taylor Wimpey PLC | 56,516 | $ | 149,263 | |||||||
TechnipFMC PLC | 7,965 | 262,043 | ||||||||
Tesco PLC(c) | 166,845 | 542,108 | ||||||||
Travis Perkins PLC | 4,372 | 76,416 | ||||||||
Unilever NV | 26,320 | 1,508,901 | ||||||||
Unilever PLC(c) | 20,107 | 1,129,238 | ||||||||
United Utilities Group PLC | 11,873 | 121,538 | ||||||||
Vodafone Group PLC | 463,684 | 1,351,394 | ||||||||
Weir Group PLC (The) | 4,168 | 122,623 | ||||||||
Whitbread PLC | 3,188 | 187,978 | ||||||||
William Hill PLC | 14,673 | 59,174 | ||||||||
Wm Morrison Supermarkets PLC | 37,493 | 125,539 | ||||||||
WPP PLC | 21,304 | 366,055 | ||||||||
Total United Kingdom | 41,052,325 | |||||||||
United States — 0.7% | ||||||||||
Carnival PLC(c) | 3,052 | 198,623 | ||||||||
QIAGEN NV* | 3,841 | 126,645 | ||||||||
Shire PLC | 15,488 | 824,710 | ||||||||
Total United States | 1,149,978 | |||||||||
Total Common Stocks | ||||||||||
(Cost $151,373,537) | 166,892,157 | |||||||||
Preferred Stocks — 1.0% | ||||||||||
Germany — 0.9% | ||||||||||
Bayerische Motoren Werke AG, 4.36% | 960 | 93,022 | ||||||||
FUCHS PETROLUB SE, 2.01% | 1,193 | 64,199 | ||||||||
Henkel AG & Co. KGaA, 1.72% | 3,039 | 386,999 | ||||||||
Porsche Automobil Holding SE, 1.44% | 2,667 | 228,137 | ||||||||
RWE AG, 9.18% | 562 | 11,421 | ||||||||
Sartorius AG, 0.40% | 595 | 91,873 | ||||||||
Volkswagen AG, 2.30% | 3,189 | 662,090 | ||||||||
Total Germany | 1,537,741 | |||||||||
Spain — 0.1% | ||||||||||
Grifols SA, 1.73%, Class B | 4,471 | 92,804 | ||||||||
Total Preferred Stocks | ||||||||||
(Cost $1,340,532) | 1,630,545 | |||||||||
Shares | Value | |||||||||
Short-Term Investment — 0.3% | ||||||||||
Money Market Fund — 0.3% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 1.58%(f) | ||||||||||
(Cost $565,759) | 565,759 | $ | 565,759 | |||||||
Investment of Cash Collateral For Securities Loaned — 2.7% | ||||||||||
Money Market Fund — 2.7% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 1.61%(f) | ||||||||||
(Cost $4,501,909) | 4,501,909 | 4,501,909 | ||||||||
Total Investments — 102.9% | ||||||||||
(Cost $157,781,737) | 173,590,370 | |||||||||
Other Assets and Liabilities, Net — (2.9)% | (4,853,159 | ) | ||||||||
Net Assets — 100.0% | $ | 168,737,211 |
‡ | May be sold to institutional investors only under Rule 144A or securities offered pursuant to section 4 (a) (2) of the Securities Act of 1933, as amended. |
* | 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 $4,262,780; total market value of collateral held by the Fund was $4,501,909. |
(b) | Less than 0.05%. |
(c) | All or a portion of these securities have been segregated as collateral for Forward foreign currency contracts. The total value of securities segregated amounted to $12,441,355. |
(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, 2018, the value of this security was $2,740. |
(e) | Security fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. The security is fair valued using significant unobservable inputs. The valuation technique can be found at the end of the Schedules of Investments for the Fund. |
(f) | Reflects the 1-day yield at April 30, 2018. |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF (continued)
April 30, 2018
Purchased Contracts | Settlement Date | Counterparty | Currency | Value at | Value at | Unrealized | ||||||||||||||||
Swiss Franc | 05/08/18 | Morgan Stanley | 9,686,835 | $ | 9,786,560 | $ | 9,792,436 | $ | 5,876 | |||||||||||||
Danish Krone | 05/08/18 | Morgan Stanley | 13,618,298 | 2,209,654 | 2,209,802 | 148 | ||||||||||||||||
Euro | 05/08/18 | Morgan Stanley | 33,692,236 | 40,707,566 | 40,731,742 | 24,176 | ||||||||||||||||
British Pound | 05/08/18 | Morgan Stanley | 16,286,553 | 22,433,994 | 22,440,968 | 6,974 | ||||||||||||||||
British Pound | 06/07/18 | Morgan Stanley | 4,975 | 6,851 | 6,865 | 14 | ||||||||||||||||
Norwegian Krone | 05/08/18 | Morgan Stanley | 6,801,583 | 848,904 | 849,257 | 353 | ||||||||||||||||
Swedish Krona | 05/08/18 | Morgan Stanley | 28,932,623 | 3,309,789 | 3,311,290 | 1,501 | ||||||||||||||||
Unrealized Appreciation | $ | 79,303,318 | $ | 79,342,360 | $ | 39,042 |
Sold Contracts | Settlement Date | Counterparty | Currency | Value at | Value at | Unrealized | ||||||||||||||||
Swiss Franc | 05/08/18 | Morgan Stanley | (9,716,025 | ) | $ | (10,174,519 | ) | $ | (9,821,944 | ) | $ | 352,575 | ||||||||||
Danish Krone | 05/08/18 | Morgan Stanley | (13,618,298 | ) | (2,252,670 | ) | (2,209,802 | ) | 42,868 | |||||||||||||
Euro | 05/08/18 | Morgan Stanley | (33,792,552 | ) | (41,675,425 | ) | (40,853,017 | ) | 822,408 | |||||||||||||
British Pound | 05/08/18 | Morgan Stanley | (16,355,370 | ) | (22,973,145 | ) | (22,535,790 | ) | 437,355 | |||||||||||||
Norwegian Krone | 05/08/18 | Morgan Stanley | (6,801,583 | ) | (867,890 | ) | (849,257 | ) | 18,633 | |||||||||||||
Swedish Krona | 05/08/18 | Morgan Stanley | (28,932,623 | ) | (3,465,979 | ) | (3,311,291 | ) | 154,688 | |||||||||||||
Unrealized Appreciation | $ | (81,409,628 | ) | $ | (79,581,101 | ) | $ | 1,828,527 | ||||||||||||||
Total Unrealized Appreciation | $ | 1,867,569 |
Purchased Contracts | Settlement Date | Counterparty | Currency | Value at | Value at | Unrealized | ||||||||||||||||
Swiss Franc | 05/08/18 | Morgan Stanley | 29,190 | $ | 30,630 | $ | 29,508 | $ | (1,122 | ) | ||||||||||||
Euro | 05/08/18 | Morgan Stanley | 100,316 | 123,694 | 121,276 | (2,418 | ) | |||||||||||||||
British Pound | 05/08/18 | Morgan Stanley | 68,817 | 96,741 | 94,822 | (1,919 | ) | |||||||||||||||
Unrealized Depreciation | $ | 251,065 | $ | 245,606 | $ | (5,459 | ) |
Sold Contracts | Settlement Date | Counterparty | Currency | Value at | Value at | Unrealized | ||||||||||||||||||||
Swiss Franc | 06/07/18 | Morgan Stanley | (10,054,902 | ) | $ | (10,182,695 | ) | $ | (10,191,359 | ) | $ | (8,664 | ) | |||||||||||||
Danish Krone | 06/07/18 | Morgan Stanley | (13,437,745 | ) | (2,184,704 | ) | (2,185,758 | ) | (1,054 | ) | ||||||||||||||||
Euro | 06/07/18 | Morgan Stanley | (35,856,196 | ) | (43,412,906 | ) | (43,448,930 | ) | (36,024 | ) | ||||||||||||||||
British Pound | 06/07/18 | Morgan Stanley | (17,621,803 | ) | (24,303,638 | ) | (24,316,749 | ) | (13,111 | ) | ||||||||||||||||
Norwegian Krone | 06/07/18 | Morgan Stanley | (7,183,386 | ) | (897,365 | ) | (897,899 | ) | (534 | ) | ||||||||||||||||
Swedish Krona | 06/07/18 | Morgan Stanley | (30,075,265 | ) | (3,447,757 | ) | (3,450,243 | ) | (2,486 | ) | ||||||||||||||||
Unrealized Depreciation | $ | (84,429,065 | ) | $ | (84,490,938 | ) | $ | (61,873 | ) | |||||||||||||||||
Total Unrealized Depreciation | $ | (67,332 | ) | |||||||||||||||||||||||
Net Unrealized Appreciation (Depreciation) | $ | 1,800,237 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF (continued)
April 30, 2018
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(g) | ||||||||||||||||||
Common Stocks | ||||||||||||||||||
Australia | $ | 769,329 | $ | — | $ | — | $ | 769,329 | ||||||||||
Austria | 766,637 | — | — | �� | 766,637 | |||||||||||||
Belgium | 2,927,256 | — | — | 2,927,256 | ||||||||||||||
Chile | 80,682 | — | — | 80,682 | ||||||||||||||
Denmark | 4,358,199 | — | — | 4,358,199 | ||||||||||||||
Finland | 2,817,026 | — | — | 2,817,026 | ||||||||||||||
France | 27,649,680 | — | — | 27,649,680 | ||||||||||||||
Germany | 23,948,726 | — | — | 23,948,726 | ||||||||||||||
Ireland | 1,482,594 | — | — | 1,482,594 | ||||||||||||||
Italy | 6,642,241 | — | — | 6,642,241 | ||||||||||||||
Jersey | 131,176 | — | — | 131,176 | ||||||||||||||
Jordan | 42,435 | — | — | 42,435 | ||||||||||||||
Kazakhstan | 50,594 | — | — | 50,594 | ||||||||||||||
Luxembourg | 749,184 | — | — | 749,184 | ||||||||||||||
Mexico | 55,546 | — | — | 55,546 | ||||||||||||||
Netherlands | 12,167,348 | — | — | 12,167,348 | ||||||||||||||
Norway | 1,793,358 | — | — | 1,793,358 | ||||||||||||||
Portugal | 393,254 | — | — | 393,254 | ||||||||||||||
Russia | 96,794 | — | — | 96,794 | ||||||||||||||
South Africa | 327,956 | — | — | 327,956 | ||||||||||||||
Spain | 8,589,614 | — | — | 8,589,614 | ||||||||||||||
Sweden | 6,879,850 | — | — | 6,879,850 | ||||||||||||||
Switzerland | 21,900,591 | — | — | 21,900,591 | ||||||||||||||
United Arab Emirates | 69,784 | — | — | 69,784 | ||||||||||||||
United Kingdom | 41,049,585 | — | 2,740 | 41,052,325 | ||||||||||||||
United States | 1,149,978 | — | — | 1,149,978 | ||||||||||||||
Total Common Stocks | 166,889,417 | — | 2,740 | (h) | 166,892,157 | |||||||||||||
Preferred Stocks | 1,630,545 | — | — | 1,630,545 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 565,759 | — | — | 565,759 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 4,501,909 | — | — | 4,501,909 | ||||||||||||||
Total Investments in Securities | 173,587,630 | — | 2,740 | (h) | 173,590,370 | |||||||||||||
Other Financial Instruments:(i) | ||||||||||||||||||
Forward Foreign Currency Contracts | — | 1,867,569 | — | 1,867,569 | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 173,587,630 | $ | 1,867,569 | $ | 2,740 | (h) | $ | 175,457,939 | |||||||||
Liability Valuation Inputs | ||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(i) | ||||||||||||||||||
Forward Foreign Currency Contracts | $ | — | $ | 67,332 | $ | — | $ | 67,332 | ||||||||||
Total Other Financial Instruments | $ | — | $ | 67,332 | $ | — | $ | 67,332 |
(g) | For a complete listing of investments and their countries, see the Schedules of Investments. |
(h) | The Level 3 security, valued at $2,740, 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. |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF (continued)
April 30, 2018
Investments in Securities | Balance as of April 30, 2017 | 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, 2018 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2018(j) | ||||||||||||||||||||||||||||||||
Common Stock: | ||||||||||||||||||||||||||||||||||||||||||
Rolls-Royce Holdings PLC, Class C(k) | $ | — | $ | — | $ | — | $ | (32 | ) | $ | 2,772 | $ | — | $ | — | $ | — | $ | 2,740 | $ | (32 | ) | ||||||||||||||||||||
Total | $ | — | $ | — | $ | — | $ | (32 | ) | $ | 2,772 | $ | — | $ | — | $ | — | $ | 2,740 | $ | (32 | ) |
Security Type | Fair Value | Valuation Technique | Unobservable Inputs | |||||||
Common Stock | $ | 2,740 | 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.
Schedules of Investments — IQ 50 Percent Hedged FTSE Japan ETF
April 30, 2018
Shares | Value | |||||||||
Common Stocks — 98.7% | ||||||||||
Consumer Discretionary — 19.6% | ||||||||||
ABC-Mart, Inc. | 222 | $ | 14,628 | |||||||
Aisin Seiki Co., Ltd. | 1,478 | 80,231 | ||||||||
Aoyama Trading Co., Ltd. | 391 | 15,061 | ||||||||
Asics Corp. | 1,510 | 28,592 | ||||||||
ASKUL Corp. | 174 | 5,478 | ||||||||
Autobacs Seven Co., Ltd. | 522 | 9,875 | ||||||||
Bandai Namco Holdings, Inc. | 1,664 | 56,493 | ||||||||
Benesse Holdings, Inc. | 601 | 21,914 | ||||||||
Bic Camera, Inc. | 1,291 | 21,213 | ||||||||
Bridgestone Corp. | 5,328 | 223,442 | ||||||||
Canon Marketing Japan, Inc. | 387 | 8,400 | ||||||||
Casio Computer Co., Ltd. | 1,850 | 27,608 | ||||||||
CyberAgent, Inc. | 818 | 45,152 | ||||||||
Daiichikosho Co., Ltd. | 352 | 18,497 | ||||||||
Denso Corp. | 4,225 | 222,244 | ||||||||
Dentsu, Inc. | 1,880 | 88,996 | ||||||||
Don Quijote Holdings Co., Ltd. | 1,002 | 54,026 | ||||||||
Exedy Corp. | 251 | 8,510 | ||||||||
Fast Retailing Co., Ltd. | 444 | 195,616 | ||||||||
Fuji Media Holdings, Inc. | 395 | 6,480 | ||||||||
Fujitsu General Ltd. | 475 | 7,770 | ||||||||
H2O Retailing Corp. | 730 | 13,783 | ||||||||
Hakuhodo DY Holdings, Inc. | 2,023 | 28,304 | ||||||||
Haseko Corp. | 2,367 | 37,314 | ||||||||
Heiwa Corp. | 447 | 8,889 | ||||||||
Hikari Tsushin, Inc. | 192 | 31,162 | ||||||||
HIS Co., Ltd. | 273 | 9,992 | ||||||||
Honda Motor Co., Ltd. | 15,226 | 524,161 | ||||||||
Iida Group Holdings Co., Ltd. | 1,209 | 23,655 | ||||||||
Isetan Mitsukoshi Holdings Ltd. | 3,046 | 33,905 | ||||||||
Isuzu Motors Ltd. | 4,650 | 71,136 | ||||||||
Izumi Co., Ltd. | 337 | 22,266 | ||||||||
J Front Retailing Co., Ltd. | 2,106 | 34,162 | ||||||||
Koito Manufacturing Co., Ltd. | 976 | 65,557 | ||||||||
Komeri Co., Ltd. | 238 | 6,360 | ||||||||
K’s Holdings Corp. | 1,453 | 21,007 | ||||||||
Marui Group Co., Ltd. | 1,777 | 36,945 | ||||||||
Mazda Motor Corp. | 4,874 | 67,771 | ||||||||
Mitsubishi Motors Corp. | 5,355 | 39,933 | ||||||||
NGK Spark Plug Co., Ltd. | 1,634 | 42,110 | ||||||||
NHK Spring Co., Ltd. | 1,379 | 15,223 | ||||||||
Nifco, Inc. | 715 | 25,189 | ||||||||
Nikon Corp. | 2,971 | 51,804 | ||||||||
Nippon Television Holdings, Inc. | 434 | 7,611 | ||||||||
Nissan Motor Co., Ltd. | 16,692 | 175,653 | ||||||||
Nissan Shatai Co., Ltd. | 530 | 5,677 | ||||||||
Nitori Holdings Co., Ltd. | 638 | 107,747 | ||||||||
NOK Corp. | 964 | 19,822 | ||||||||
Oriental Land Co., Ltd. | 1,641 | 163,688 | ||||||||
PALTAC Corp. | 270 | 13,522 | ||||||||
Panasonic Corp. | 18,439 | 275,005 | ||||||||
Rakuten, Inc. | 6,754 | 48,156 | ||||||||
Resorttrust, Inc. | 559 | 11,617 | ||||||||
Rinnai Corp. | 313 | 31,150 | ||||||||
Ryohin Keikaku Co., Ltd. | 201 | 68,975 | ||||||||
Sankyo Co., Ltd. | 437 | 15,355 | ||||||||
Sanrio Co., Ltd. | 502 | 9,253 | ||||||||
Sega Sammy Holdings, Inc. | 1,688 | 27,705 | ||||||||
Sekisui Chemical Co., Ltd. | 3,080 | 54,605 | ||||||||
Sekisui House Ltd. | 5,014 | 91,849 | ||||||||
Sharp Corp.(a) | 1,234 | 36,256 | ||||||||
Shimachu Co., Ltd. | 373 | 12,050 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Consumer Discretionary (continued) | ||||||||||
Shimamura Co., Ltd. | 187 | $ | 21,789 | |||||||
Shimano, Inc. | 676 | 89,824 | ||||||||
Shochiku Co., Ltd. | 85 | 12,491 | ||||||||
SKY Perfect JSAT Holdings, Inc. | 1,042 | 4,752 | ||||||||
Skylark Co., Ltd. | 1,626 | 23,924 | ||||||||
Sony Corp. | 10,925 | 539,136 | ||||||||
Stanley Electric Co., Ltd. | 1,265 | 45,837 | ||||||||
Start Today Co., Ltd. | 1,520 | 43,895 | ||||||||
Subaru Corp. | 5,299 | 178,159 | ||||||||
Sumitomo Electric Industries Ltd. | 6,508 | 99,887 | ||||||||
Sumitomo Forestry Co., Ltd. | 1,148 | 19,063 | ||||||||
Sumitomo Rubber Industries Ltd. | 1,548 | 27,685 | ||||||||
Suzuki Motor Corp. | 3,554 | 191,333 | ||||||||
Takashimaya Co., Ltd. | 2,522 | 21,665 | ||||||||
Toho Co., Ltd. | 976 | 32,645 | ||||||||
Tokai Rika Co., Ltd. | 421 | 8,426 | ||||||||
Tokyo Broadcasting System Holdings, Inc. | 298 | 6,629 | ||||||||
Toyo Tire & Rubber Co., Ltd. | 858 | 14,663 | ||||||||
Toyoda Gosei Co., Ltd. | 628 | 15,920 | ||||||||
Toyota Boshoku Corp. | 518 | 10,921 | ||||||||
Toyota Industries Corp. | 1,367 | 80,827 | ||||||||
Toyota Motor Corp. | 22,400 | 1,469,997 | ||||||||
TS Tech Co., Ltd. | 436 | 17,751 | ||||||||
TV Asahi Holdings Corp. | 183 | 4,301 | ||||||||
USS Co., Ltd. | 1,834 | 38,566 | ||||||||
Wacoal Holdings Corp. | 507 | 15,383 | ||||||||
Yamada Denki Co., Ltd.(a) | 6,235 | 32,706 | ||||||||
Yamaha Corp. | 1,386 | 67,004 | ||||||||
Yamaha Motor Co., Ltd. | 2,382 | 76,189 | ||||||||
Yokohama Rubber Co., Ltd. (The) | 892 | 21,072 | ||||||||
Zensho Holdings Co., Ltd. | 786 | 18,302 | ||||||||
Total Consumer Discretionary | 6,797,292 | |||||||||
Consumer Staples — 8.7% | ||||||||||
Aeon Co., Ltd. | 6,026 | 120,465 | ||||||||
Ain Holdings, Inc. | 236 | 15,744 | ||||||||
Ajinomoto Co., Inc. | 4,334 | 79,452 | ||||||||
Ariake Japan Co., Ltd. | 152 | 13,057 | ||||||||
Asahi Group Holdings Ltd. | 3,294 | 166,649 | ||||||||
Calbee, Inc. | 640 | 21,582 | ||||||||
Ci:z Holdings Co., Ltd. | 183 | 8,813 | ||||||||
Coca-Cola Bottlers Japan Holdings, Inc. | 1,006 | 43,301 | ||||||||
Cosmos Pharmaceutical Corp. | 75 | 16,868 | ||||||||
Ezaki Glico Co., Ltd. | 442 | 23,872 | ||||||||
FamilyMart UNY Holdings Co., Ltd. | 694 | 67,418 | ||||||||
Fuji Oil Holdings, Inc. | 383 | 12,303 | ||||||||
House Foods Group, Inc. | 633 | 22,300 | ||||||||
Ito En Ltd. | 485 | 19,369 | ||||||||
Itoham Yonekyu Holdings, Inc. | 1,145 | 10,411 | ||||||||
Japan Tobacco, Inc. | 10,342 | 277,535 | ||||||||
Kagome Co., Ltd. | 669 | 24,119 | ||||||||
Kao Corp. | 4,166 | 299,054 | ||||||||
Kewpie Corp. | 944 | 22,007 | ||||||||
Kikkoman Corp. | 1,503 | 65,175 | ||||||||
Kirin Holdings Co., Ltd. | 7,242 | 203,378 | ||||||||
Kobayashi Pharmaceutical Co., Ltd. | 523 | 44,115 | ||||||||
Kose Corp. | 246 | 45,524 | ||||||||
Kusuri no Aoki Holdings Co., Ltd. | 135 | 9,265 | ||||||||
Lawson, Inc. | 410 | 27,090 | ||||||||
Lion Corp. | 2,154 | 46,495 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Japan ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Consumer Staples (continued) | ||||||||||
Matsumotokiyoshi Holdings Co., Ltd. | 670 | $ | 29,910 | |||||||
Megmilk Snow Brand Co., Ltd. | 354 | 10,660 | ||||||||
MEIJI Holdings Co., Ltd. | 1,167 | 93,637 | ||||||||
Mitsubishi Shokuhin Co., Ltd. | 119 | 3,475 | ||||||||
Morinaga & Co., Ltd. | 348 | 16,951 | ||||||||
Morinaga Milk Industry Co., Ltd. | 343 | 15,093 | ||||||||
NH Foods Ltd. | 878 | 38,394 | ||||||||
Nichirei Corp. | 913 | 26,408 | ||||||||
Nisshin Seifun Group, Inc. | 2,188 | 47,849 | ||||||||
Nissin Foods Holdings Co., Ltd. | 589 | 43,331 | ||||||||
Noevir Holdings Co., Ltd. | 129 | 9,290 | ||||||||
Pigeon Corp. | 922 | 43,225 | ||||||||
Pola Orbis Holdings, Inc. | 636 | 27,782 | ||||||||
Sapporo Holdings Ltd. | 534 | 15,275 | ||||||||
Seven & i Holdings Co., Ltd. | 6,670 | 292,889 | ||||||||
Shiseido Co., Ltd. | 3,358 | 218,251 | ||||||||
Sugi Holdings Co., Ltd. | 309 | 18,016 | ||||||||
Sundrug Co., Ltd. | 561 | 28,864 | ||||||||
Suntory Beverage & Food Ltd. | 1,071 | 52,755 | ||||||||
Takara Holdings, Inc. | 1,501 | 18,134 | ||||||||
Toyo Suisan Kaisha Ltd. | 769 | 30,289 | ||||||||
Tsuruha Holdings, Inc. | 308 | 44,275 | ||||||||
Unicharm Corp. | 3,310 | 93,016 | ||||||||
Welcia Holdings Co., Ltd. | 427 | 21,969 | ||||||||
Yakult Honsha Co., Ltd. | 1,029 | 73,349 | ||||||||
Yamazaki Baking Co., Ltd. | 1,085 | 23,777 | ||||||||
Total Consumer Staples | 3,042,225 | |||||||||
Energy — 1.1% | ||||||||||
Cosmo Energy Holdings Co., Ltd. | 554 | 18,302 | ||||||||
Idemitsu Kosan Co., Ltd. | 1,251 | 48,988 | ||||||||
Inpex Corp. | 7,896 | 101,203 | ||||||||
Japan Petroleum Exploration Co., Ltd. | 261 | 6,791 | ||||||||
JXTG Holdings, Inc. | 27,534 | 179,760 | ||||||||
Showa Shell Sekiyu K.K. | 1,635 | 23,115 | ||||||||
Total Energy | 378,159 | |||||||||
Financials — 12.4% | ||||||||||
77 Bank Ltd. (The) | 604 | 14,953 | ||||||||
Acom Co., Ltd.(a) | 3,242 | 14,695 | ||||||||
AEON Financial Service Co., Ltd. | 984 | 23,075 | ||||||||
Aiful Corp.* | 2,481 | 8,389 | ||||||||
Aozora Bank Ltd. | 998 | 40,358 | ||||||||
Aplus Financial Co., Ltd.* | 782 | 843 | ||||||||
Awa Bank Ltd. (The) | 1,616 | 10,574 | ||||||||
Bank of Kyoto Ltd. (The) | 611 | 36,741 | ||||||||
Chiba Bank Ltd. (The) | 5,536 | 44,723 | ||||||||
Chugoku Bank Ltd. (The) | 1,476 | 17,144 | ||||||||
Concordia Financial Group Ltd. | 10,016 | 58,307 | ||||||||
Credit Saison Co., Ltd. | 1,371 | 24,595 | ||||||||
Dai-ichi Life Holdings, Inc. | 9,815 | 194,999 | ||||||||
Daishi Bank Ltd. (The) | 275 | 12,340 | ||||||||
Daiwa Securities Group, Inc. | 13,464 | 82,771 | ||||||||
Fukuoka Financial Group, Inc. | 6,246 | 33,449 | ||||||||
Gunma Bank Ltd. (The) | 3,629 | 21,225 | ||||||||
Hachijuni Bank Ltd. (The) | 3,512 | 18,583 | ||||||||
Hiroshima Bank Ltd. (The) | 2,510 | 19,130 | ||||||||
Hitachi Capital Corp. | 361 | 9,666 | ||||||||
Hokuhoku Financial Group, Inc. | 1,087 | 16,113 | ||||||||
Iyo Bank Ltd. (The) | 2,327 | 18,437 | ||||||||
Jafco Co., Ltd. | 264 | 11,605 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Financials (continued) | ||||||||||
Japan Exchange Group, Inc. | 4,598 | $ | 85,300 | |||||||
Japan Post Bank Co., Ltd. | 3,487 | 47,417 | ||||||||
Japan Post Holdings Co., Ltd. | 11,469 | 139,399 | ||||||||
Japan Post Insurance Co., Ltd. | 553 | 13,605 | ||||||||
Keiyo Bank Ltd. (The) | 1,999 | 9,152 | ||||||||
Kyushu Financial Group, Inc. | 3,305 | 16,249 | ||||||||
Matsui Securities Co., Ltd. | 871 | 8,501 | ||||||||
Mebuki Financial Group, Inc. | 8,690 | 33,751 | ||||||||
Mitsubishi UFJ Financial Group, Inc. | 111,288 | 745,683 | ||||||||
Mitsubishi UFJ Lease & Finance Co., Ltd. | 3,730 | 23,759 | ||||||||
Mizuho Financial Group, Inc. | 219,739 | 398,412 | ||||||||
MS&AD Insurance Group Holdings, Inc. | 4,317 | 144,867 | ||||||||
Nishi-Nippon Financial Holdings, Inc. | 1,324 | 15,911 | ||||||||
Nomura Holdings, Inc. | 28,368 | 163,869 | ||||||||
North Pacific Bank Ltd. | 2,389 | 8,078 | ||||||||
Orient Corp. | 4,851 | 7,492 | ||||||||
ORIX Corp. | 11,100 | 195,169 | ||||||||
Resona Holdings, Inc. | 18,905 | 107,565 | ||||||||
San-In Godo Bank Ltd. (The) | 1,283 | 12,088 | ||||||||
SBI Holdings, Inc. | 1,819 | 45,997 | ||||||||
Seven Bank Ltd. | 5,607 | 18,857 | ||||||||
Shiga Bank Ltd. (The) | 2,153 | 10,900 | ||||||||
Shinsei Bank Ltd.(a) | 1,397 | 21,806 | ||||||||
Shizuoka Bank Ltd. (The) | 4,420 | 44,917 | ||||||||
Sompo Holdings, Inc. | 3,053 | 128,063 | ||||||||
Sony Financial Holdings, Inc. | 1,488 | 27,183 | ||||||||
Sumitomo Mitsui Financial Group, Inc. | 11,556 | 480,510 | ||||||||
Sumitomo Mitsui Trust Holdings, Inc. | 3,229 | 137,098 | ||||||||
Suruga Bank Ltd. | 1,486 | 20,207 | ||||||||
T&D Holdings, Inc. | 4,833 | 82,107 | ||||||||
Tokai Tokyo Financial Holdings, Inc. | 1,948 | 14,153 | ||||||||
Tokio Marine Holdings, Inc. | 6,043 | 285,624 | ||||||||
Tokyo Century Corp. | 397 | 24,816 | ||||||||
Yamaguchi Financial Group, Inc. | 1,936 | 24,203 | ||||||||
Zenkoku Hosho Co., Ltd. | 429 | 17,740 | ||||||||
Total Financials | 4,293,163 | |||||||||
Health Care — 7.3% | ||||||||||
Alfresa Holdings Corp. | 1,521 | 33,582 | ||||||||
Asahi Intecc Co., Ltd. | 850 | 29,790 | ||||||||
Astellas Pharma, Inc. | 17,461 | 256,190 | ||||||||
Chugai Pharmaceutical Co., Ltd. | 1,870 | 98,776 | ||||||||
Daiichi Sankyo Co., Ltd. | 5,539 | 189,822 | ||||||||
Eisai Co., Ltd. | 2,282 | 153,176 | ||||||||
Hisamitsu Pharmaceutical Co., Inc. | 616 | 48,019 | ||||||||
Hoya Corp. | 3,187 | 170,731 | ||||||||
Kaken Pharmaceutical Co., Ltd. | 294 | 17,410 | ||||||||
Kissei Pharmaceutical Co., Ltd. | 271 | 7,665 | ||||||||
KYORIN Holdings, Inc. | 390 | 7,641 | ||||||||
Kyowa Hakko Kirin Co., Ltd. | 2,164 | 46,948 | ||||||||
M3, Inc. | 1,718 | 65,078 | ||||||||
Medipal Holdings Corp. | 1,339 | 28,768 | ||||||||
Miraca Holdings, Inc. | 444 | 17,326 | ||||||||
Mitsubishi Tanabe Pharma Corp. | 1,890 | 35,995 | ||||||||
Mochida Pharmaceutical Co., Ltd. | 109 | 7,690 | ||||||||
Nihon Kohden Corp. | 637 | 18,250 | ||||||||
Nippon Shinyaku Co., Ltd. | 438 | 32,662 | ||||||||
Nipro Corp.(a) | 1,009 | 14,560 | ||||||||
Olympus Corp. | 2,431 | 90,753 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Japan ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Health Care (continued) | ||||||||||
Ono Pharmaceutical Co., Ltd. | 3,820 | $ | 88,479 | |||||||
Otsuka Holdings Co., Ltd. | 3,623 | 189,783 | ||||||||
PeptiDream, Inc.* | 708 | 28,728 | ||||||||
Rohto Pharmaceutical Co., Ltd. | 827 | 24,147 | ||||||||
Santen Pharmaceutical Co., Ltd. | 3,093 | 52,151 | ||||||||
Sawai Pharmaceutical Co., Ltd. | 323 | 13,992 | ||||||||
Shionogi & Co., Ltd. | 2,458 | 126,556 | ||||||||
Sumitomo Dainippon Pharma Co., Ltd. | 1,418 | 25,852 | ||||||||
Suzuken Co., Ltd. | 674 | 29,011 | ||||||||
Sysmex Corp. | 1,245 | 110,136 | ||||||||
Taisho Pharmaceutical Holdings Co., Ltd. | 389 | 37,291 | ||||||||
Takeda Pharmaceutical Co., Ltd. | 6,518 | 275,254 | ||||||||
Terumo Corp. | 2,652 | 150,262 | ||||||||
Tsumura & Co. | 559 | 20,332 | ||||||||
Total Health Care | 2,542,806 | |||||||||
Industrials — 21.6% | ||||||||||
Aica Kogyo Co., Ltd. | 447 | 16,830 | ||||||||
Amada Holdings Co., Ltd. | 2,784 | 33,507 | ||||||||
ANA Holdings, Inc. | 963 | 38,194 | ||||||||
Asahi Glass Co., Ltd. | 1,605 | 66,591 | ||||||||
Central Japan Railway Co. | 1,568 | 314,818 | ||||||||
Chiyoda Corp.(a) | 1,308 | 13,471 | ||||||||
COMSYS Holdings Corp. | 887 | 24,723 | ||||||||
Dai Nippon Printing Co., Ltd. | 2,515 | 54,196 | ||||||||
Daifuku Co., Ltd. | 823 | 44,224 | ||||||||
Daikin Industries Ltd. | 2,292 | 268,212 | ||||||||
DMG Mori Co., Ltd. | 859 | 16,148 | ||||||||
East Japan Railway Co. | 3,220 | 308,684 | ||||||||
Ebara Corp. | 859 | 32,892 | ||||||||
FANUC Corp. | 1,680 | 361,716 | ||||||||
Fuji Electric Co., Ltd. | 5,352 | 38,346 | ||||||||
Fujikura Ltd. | 2,336 | 16,011 | ||||||||
Fukuyama Transporting Co., Ltd. | 283 | 11,832 | ||||||||
Furukawa Electric Co., Ltd. | 525 | 25,908 | ||||||||
Glory Ltd. | 469 | 16,158 | ||||||||
GS Yuasa Corp. | 3,299 | 17,788 | ||||||||
Hankyu Hanshin Holdings, Inc. | 1,903 | 75,042 | ||||||||
Hino Motors Ltd. | 2,289 | 27,968 | ||||||||
Hitachi Construction Machinery Co., Ltd. | 904 | 32,922 | ||||||||
Hitachi Transport System Ltd. | 367 | 9,830 | ||||||||
Hoshizaki Corp. | 447 | 41,544 | ||||||||
IHI Corp. | 1,110 | 36,417 | ||||||||
ITOCHU Corp. | 12,219 | 244,994 | ||||||||
Japan Airlines Co., Ltd. | 1,008 | 39,703 | ||||||||
Japan Airport Terminal Co., Ltd. | 396 | 16,267 | ||||||||
Japan Steel Works Ltd. (The) | 535 | 17,601 | ||||||||
JGC Corp. | 1,841 | 45,173 | ||||||||
JTEKT Corp. | 1,930 | 31,307 | ||||||||
Kajima Corp. | 7,816 | 75,356 | ||||||||
Kamigumi Co., Ltd. | 882 | 19,909 | ||||||||
Kandenko Co., Ltd. | 887 | 10,505 | ||||||||
Kawasaki Heavy Industries Ltd. | 1,244 | 41,722 | ||||||||
Kawasaki Kisen Kaisha Ltd.* | 705 | 16,300 | ||||||||
Keihan Holdings Co., Ltd. | 835 | 27,013 | ||||||||
Keikyu Corp. | 2,121 | 38,902 | ||||||||
Keio Corp. | 982 | 44,961 | ||||||||
Keisei Electric Railway Co., Ltd. | 1,188 | 38,759 | ||||||||
Kinden Corp. | 1,114 | 19,445 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Industrials (continued) | ||||||||||
Kintetsu Group Holdings Co., Ltd. | 1,533 | $ | 62,413 | |||||||
Kokuyo Co., Ltd. | 719 | 12,971 | ||||||||
Komatsu Ltd. | 7,904 | 270,870 | ||||||||
Kubota Corp. | 9,663 | 163,324 | ||||||||
Kurita Water Industries Ltd. | 939 | 30,463 | ||||||||
Kyowa Exeo Corp. | 759 | 19,768 | ||||||||
Kyudenko Corp. | 333 | 15,612 | ||||||||
Kyushu Railway Co. | 1,369 | 43,913 | ||||||||
LIXIL Group Corp. | 2,222 | 49,811 | ||||||||
Mabuchi Motor Co., Ltd. | 440 | 22,196 | ||||||||
Maeda Corp. | 1,138 | 14,061 | ||||||||
Maeda Road Construction Co., Ltd. | 495 | 10,694 | ||||||||
Makita Corp. | 2,108 | 94,781 | ||||||||
Marubeni Corp. | 13,529 | 101,902 | ||||||||
MINEBEA MITSUMI, Inc. | 3,585 | 71,978 | ||||||||
MISUMI Group, Inc. | 2,355 | 65,210 | ||||||||
Mitsubishi Corp. | 11,125 | 307,748 | ||||||||
Mitsubishi Electric Corp. | 17,095 | 262,537 | ||||||||
Mitsubishi Heavy Industries Ltd. | 2,472 | 97,728 | ||||||||
Mitsubishi Logistics Corp. | 577 | 13,351 | ||||||||
Mitsui & Co., Ltd. | 14,510 | 262,088 | ||||||||
Mitsui E&S Holdings Co., Ltd.* | 627 | 10,772 | ||||||||
Mitsui OSK Lines Ltd. | 943 | 27,965 | ||||||||
Miura Co., Ltd. | 836 | 25,479 | ||||||||
MonotaRO Co., Ltd. | 499 | 17,443 | ||||||||
Nabtesco Corp. | 994 | 35,927 | ||||||||
Nagase & Co., Ltd. | 942 | 16,124 | ||||||||
Nagoya Railroad Co., Ltd. | 1,553 | 40,746 | ||||||||
Nankai Electric Railway Co., Ltd. | 931 | 24,801 | ||||||||
NGK Insulators Ltd. | 2,259 | 41,536 | ||||||||
Nidec Corp. | 2,027 | 317,503 | ||||||||
Nihon M&A Center, Inc. | 1,085 | 31,829 | ||||||||
Nippo Corp. | �� | 433 | 9,936 | |||||||
Nippon Express Co., Ltd. | 625 | 47,236 | ||||||||
Nippon Yusen K.K. | 1,370 | 29,222 | ||||||||
Nishi-Nippon Railroad Co., Ltd. | 645 | 17,919 | ||||||||
Nisshinbo Holdings, Inc. | 1,155 | 16,329 | ||||||||
NSK Ltd. | 3,885 | 52,191 | ||||||||
NTN Corp.(a) | 3,623 | 15,992 | ||||||||
Obayashi Corp. | 5,748 | 66,292 | ||||||||
Odakyu Electric Railway Co., Ltd. | 2,604 | 56,185 | ||||||||
OKUMA Corp. | 256 | 14,669 | ||||||||
OSG Corp. | 657 | 14,578 | ||||||||
Park24 Co., Ltd. | 891 | 25,242 | ||||||||
Penta-Ocean Construction Co., Ltd. | 2,422 | 19,146 | ||||||||
Persol Holdings Co., Ltd. | 1,441 | 34,278 | ||||||||
Pilot Corp. | 212 | 11,586 | ||||||||
Recruit Holdings Co., Ltd. | 10,348 | 238,971 | ||||||||
Sankyu, Inc. | 424 | 20,614 | ||||||||
Sanwa Holdings Corp. | 1,691 | 21,774 | ||||||||
Secom Co., Ltd. | 1,675 | 125,550 | ||||||||
Seibu Holdings, Inc. | 1,843 | 31,142 | ||||||||
Seino Holdings Co., Ltd. | 1,260 | 23,640 | ||||||||
SG Holdings Co., Ltd. | 693 | 15,497 | ||||||||
Shima Seiki Manufacturing Ltd.(a) | 256 | 16,283 | ||||||||
Shimizu Corp. | 4,834 | 47,887 | ||||||||
SMC Corp. | 501 | 191,014 | ||||||||
Sohgo Security Services Co., Ltd. | 569 | 28,132 | ||||||||
Sojitz Corp. | 10,696 | 35,287 | ||||||||
Sotetsu Holdings, Inc.(a) | 663 | 19,025 | ||||||||
Sumitomo Corp. | 9,689 | 174,389 | ||||||||
Sumitomo Heavy Industries Ltd. | 963 | 36,874 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Japan ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Industrials (continued) | ||||||||||
Tadano Ltd. | 975 | $ | 15,058 | |||||||
Taisei Corp. | 1,817 | 98,135 | ||||||||
THK Co., Ltd. | 974 | 34,091 | ||||||||
Tobu Railway Co., Ltd. | 1,721 | 54,890 | ||||||||
Toda Corp. | 1,973 | 16,300 | ||||||||
Tokyu Corp. | 4,208 | 70,797 | ||||||||
Toppan Forms Co., Ltd. | 337 | 3,760 | ||||||||
Toppan Printing Co., Ltd. | 4,462 | 37,352 | ||||||||
Toshiba Corp.* | 50,809 | 136,048 | ||||||||
TOTO Ltd. | 1,230 | 69,804 | ||||||||
Toyota Tsusho Corp. | 1,903 | 68,433 | ||||||||
Ushio, Inc. | 999 | 14,096 | ||||||||
West Japan Railway Co. | 1,586 | 112,328 | ||||||||
Yamato Holdings Co., Ltd. | 3,036 | 78,172 | ||||||||
Total Industrials | 7,521,577 | |||||||||
Information Technology — 12.0% | ||||||||||
Advantest Corp. | 1,513 | 36,226 | ||||||||
Alps Electric Co., Ltd. | 1,608 | 35,679 | ||||||||
Azbil Corp. | 551 | 25,681 | ||||||||
Brother Industries Ltd. | 2,013 | 43,341 | ||||||||
Canon, Inc. | 8,892 | 307,980 | ||||||||
Capcom Co., Ltd. | 790 | 15,183 | ||||||||
Citizen Watch Co., Ltd. | 2,315 | 17,348 | ||||||||
COLOPL, Inc. | 397 | 3,008 | ||||||||
DeNA Co., Ltd. | 943 | 17,968 | ||||||||
Disco Corp. | 236 | 41,582 | ||||||||
FUJIFILM Holdings Corp. | 3,297 | 132,724 | ||||||||
Fujitsu Ltd. | 16,752 | 101,943 | ||||||||
GMO Payment Gateway, Inc. | 139 | 13,782 | ||||||||
Gree, Inc. | 804 | 4,445 | ||||||||
GungHo Online Entertainment, Inc. | 3,199 | 9,677 | ||||||||
Hamamatsu Photonics K.K. | 1,106 | 42,653 | ||||||||
Hirose Electric Co., Ltd. | 288 | 40,584 | ||||||||
Hitachi High-Technologies Corp. | 546 | 25,497 | ||||||||
Hitachi Ltd. | 39,987 | 292,927 | ||||||||
Horiba Ltd. | 328 | 23,890 | ||||||||
Ibiden Co., Ltd. | 922 | 15,259 | ||||||||
Itochu Techno-Solutions Corp. | 823 | 17,073 | ||||||||
Japan Aviation Electronics Industry Ltd. | 381 | 6,518 | ||||||||
Japan Display, Inc.*(a) | 3,035 | 4,022 | ||||||||
Kakaku.com, Inc. | 1,136 | 21,708 | ||||||||
Keyence Corp. | 780 | 477,374 | ||||||||
Koei Tecmo Holdings Co., Ltd. | 416 | 8,588 | ||||||||
Konami Holdings Corp. | 810 | 39,825 | ||||||||
Konica Minolta, Inc. | 3,859 | 33,150 | ||||||||
Kyocera Corp. | 2,698 | 172,544 | ||||||||
LINE Corp.* | 337 | 12,304 | ||||||||
Murata Manufacturing Co., Ltd. | 1,639 | 207,449 | ||||||||
NEC Corp. | 2,221 | 60,993 | ||||||||
Nexon Co., Ltd.* | 3,483 | 50,705 | ||||||||
Nintendo Co., Ltd. | 930 | 392,398 | ||||||||
Nippon Electric Glass Co., Ltd. | 705 | 20,327 | ||||||||
Nomura Research Institute Ltd. | 885 | 45,696 | ||||||||
NS Solutions Corp. | 279 | 8,083 | ||||||||
NTT Data Corp. | �� | 5,377 | 57,934 | |||||||
OBIC Business Consultants Co., Ltd. | 63 | 4,617 | ||||||||
Obic Co., Ltd. | 571 | 47,851 | ||||||||
Omron Corp. | 1,704 | 92,500 | ||||||||
Oracle Corp. Japan | 276 | 22,700 | ||||||||
Otsuka Corp. | 874 | 40,735 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Information Technology (continued) | ||||||||||
Renesas Electronics Corp.* | 5,951 | $ | 62,433 | |||||||
Ricoh Co., Ltd. | 5,806 | 56,826 | ||||||||
Rohm Co., Ltd. | 757 | 70,702 | ||||||||
SCREEN Holdings Co., Ltd. | 335 | 27,584 | ||||||||
SCSK Corp. | 356 | 15,258 | ||||||||
Seiko Epson Corp. | 2,352 | 44,171 | ||||||||
Shimadzu Corp. | 2,296 | 62,444 | ||||||||
Square Enix Holdings Co., Ltd. | 660 | 27,504 | ||||||||
SUMCO Corp. | 1,995 | 49,262 | ||||||||
Taiyo Yuden Co., Ltd. | 947 | 16,867 | ||||||||
TDK Corp. | 1,036 | 89,469 | ||||||||
TIS, Inc. | 685 | 27,168 | ||||||||
Tokyo Electron Ltd. | 1,348 | 259,375 | ||||||||
Topcon Corp. | 889 | 17,711 | ||||||||
Trend Micro, Inc. | 979 | 58,691 | ||||||||
Ulvac, Inc. | 411 | 22,123 | ||||||||
Yahoo Japan Corp. | 11,169 | 45,931 | ||||||||
Yaskawa Electric Corp. | 1,891 | 77,247 | ||||||||
Yokogawa Electric Corp. | 2,069 | 45,644 | ||||||||
Total Information Technology | 4,168,881 | |||||||||
Materials — 6.6% | ||||||||||
Air Water, Inc. | 1,302 | 25,154 | ||||||||
Asahi Kasei Corp. | 10,768 | 148,346 | ||||||||
Daicel Corp. | 2,492 | 28,831 | ||||||||
Daido Steel Co., Ltd. | 299 | 16,231 | ||||||||
Denka Co., Ltd. | 758 | 27,085 | ||||||||
DIC Corp. | 697 | 23,695 | ||||||||
Dowa Holdings Co., Ltd. | 387 | 14,606 | ||||||||
FP Corp. | 195 | 12,047 | ||||||||
Hitachi Chemical Co., Ltd. | 847 | 18,624 | ||||||||
Hitachi Metals Ltd. | 1,683 | 19,318 | ||||||||
JFE Holdings, Inc. | 4,391 | 90,469 | ||||||||
JSR Corp. | 1,599 | 30,175 | ||||||||
Kaneka Corp. | 2,458 | 24,282 | ||||||||
Kansai Paint Co., Ltd. | 1,652 | 37,199 | ||||||||
Kobe Steel Ltd. | 2,539 | 26,266 | ||||||||
Kuraray Co., Ltd. | 3,008 | 50,085 | ||||||||
Lintec Corp. | 426 | 12,322 | ||||||||
Maruichi Steel Tube Ltd. | 525 | 17,968 | ||||||||
Mitsubishi Chemical Holdings Corp. | 11,162 | 106,035 | ||||||||
Mitsubishi Gas Chemical Co., Inc. | 1,573 | 37,002 | ||||||||
Mitsubishi Materials Corp. | 1,065 | 32,507 | ||||||||
Mitsui Chemicals, Inc. | 1,554 | 44,593 | ||||||||
Mitsui Mining & Smelting Co., Ltd. | 467 | 19,866 | ||||||||
Nippon Kayaku Co., Ltd. | 1,429 | 17,904 | ||||||||
Nippon Paint Holdings Co., Ltd.(a) | 1,317 | 53,920 | ||||||||
Nippon Paper Industries Co., Ltd. | 802 | 15,369 | ||||||||
Nippon Shokubai Co., Ltd. | 270 | 18,358 | ||||||||
Nippon Steel & Sumitomo Metal Corp. | 6,736 | 146,816 | ||||||||
Nissan Chemical Industries Ltd. | 1,201 | 53,506 | ||||||||
Nisshin Steel Co., Ltd. | 387 | 5,149 | ||||||||
Nitto Denko Corp. | 1,330 | 99,059 | ||||||||
NOF Corp. | 600 | 17,903 | ||||||||
Oji Holdings Corp. | 7,515 | 52,881 | ||||||||
Rengo Co., Ltd. | 1,780 | 15,323 | ||||||||
Shin-Etsu Chemical Co., Ltd. | 3,525 | 354,513 | ||||||||
Showa Denko K.K. | 1,078 | 36,007 | ||||||||
Sumitomo Chemical Co., Ltd. | 12,875 | 74,008 | ||||||||
Sumitomo Metal Mining Co., Ltd. | 2,029 | 87,112 | ||||||||
Sumitomo Osaka Cement Co., Ltd. | 3,178 | 14,550 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Japan ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Materials (continued) | ||||||||||
Taiheiyo Cement Corp. | 1,032 | $ | 39,092 | |||||||
Taiyo Nippon Sanso Corp. | 1,222 | 18,125 | ||||||||
Teijin Ltd. | 1,515 | 28,535 | ||||||||
Tokai Carbon Co., Ltd. | 1,670 | 20,985 | ||||||||
Tokuyama Corp. | 581 | 17,336 | ||||||||
Toray Industries, Inc. | 13,096 | 122,313 | ||||||||
Tosoh Corp. | 2,426 | 43,055 | ||||||||
Toyo Seikan Group Holdings Ltd. | 1,356 | 21,352 | ||||||||
Toyobo Co., Ltd. | 746 | 14,548 | ||||||||
Ube Industries Ltd. | 902 | 27,532 | ||||||||
Yamato Kogyo Co., Ltd. | 297 | 8,821 | ||||||||
Zeon Corp. | 1,254 | 16,285 | ||||||||
Total Materials | 2,303,063 | |||||||||
Real Estate — 3.1% | ||||||||||
Aeon Mall Co., Ltd. | 1,012 | 20,513 | ||||||||
Daikyo, Inc. | 245 | 5,340 | ||||||||
Daito Trust Construction Co., Ltd. | 612 | 102,098 | ||||||||
Daiwa House Industry Co., Ltd. | 5,615 | 205,768 | ||||||||
Hulic Co., Ltd. | 3,038 | 32,677 | ||||||||
Ichigo, Inc. | 1,749 | 7,800 | ||||||||
Leopalace21 Corp. | 2,023 | 17,582 | ||||||||
Mitsubishi Estate Co., Ltd. | 10,218 | 186,991 | ||||||||
Mitsui Fudosan Co., Ltd. | 8,178 | 210,121 | ||||||||
Nomura Real Estate Holdings, Inc. | 1,008 | 25,038 | ||||||||
NTT Urban Development Corp. | 919 | 10,842 | ||||||||
Open House Co., Ltd. | 253 | 14,150 | ||||||||
Relo Group, Inc. | 885 | 19,944 | ||||||||
Sumitomo Realty & Development Co., Ltd. | 3,736 | 148,484 | ||||||||
Tokyo Tatemono Co., Ltd. | 1,757 | 26,766 | ||||||||
Tokyu Fudosan Holdings Corp. | 4,380 | 34,504 | ||||||||
Total Real Estate | 1,068,618 | |||||||||
Telecommunication Services — 4.4% | ||||||||||
KDDI Corp. | 15,574 | 418,011 | ||||||||
Nippon Telegraph & Telephone Corp. | 5,715 | 271,844 | ||||||||
NTT DOCOMO, Inc. | 10,868 | 281,570 | ||||||||
SoftBank Group Corp. | 7,372 | 572,715 | ||||||||
Total Telecommunication Services | 1,544,140 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Utilities — 1.9% | ||||||||||
Chubu Electric Power Co., Inc. | 5,975 | $ | 93,563 | |||||||
Chugoku Electric Power Co., Inc. (The) | 2,460 | 30,799 | ||||||||
Electric Power Development Co., Ltd. | 1,409 | 38,346 | ||||||||
Hokkaido Electric Power Co., Inc. | 1,504 | 9,979 | ||||||||
Hokuriku Electric Power Co.*(a) | 1,447 | 14,771 | ||||||||
Kansai Electric Power Co., Inc. (The) | 6,210 | 86,829 | ||||||||
Kyushu Electric Power Co., Inc. | 3,958 | 48,903 | ||||||||
Osaka Gas Co., Ltd. | 3,370 | 72,497 | ||||||||
Shikoku Electric Power Co., Inc. | 1,314 | 16,704 | ||||||||
Toho Gas Co., Ltd. | 770 | 23,362 | ||||||||
Tohoku Electric Power Co., Inc. | 4,024 | 51,888 | ||||||||
Tokyo Electric Power Co., Holdings, Inc.* | 13,298 | 63,315 | ||||||||
Tokyo Gas Co., Ltd. | 3,620 | 96,997 | ||||||||
Total Utilities | 647,953 | |||||||||
Total Common Stocks | ||||||||||
(Cost $27,897,697) | 34,307,877 | |||||||||
Investment of Cash Collateral For Securities Loaned — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 1.61%(b) | ||||||||||
(Cost $36,157) | 36,157 | 36,157 | ||||||||
Total Investments — 98.8% | ||||||||||
(Cost $27,933,854) | 34,344,034 | |||||||||
Other Assets and Liabilities, Net — 1.2% | 402,449 | |||||||||
Net Assets — 100.0% | $ | 34,746,483 |
* | 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 $246,157; total market value of collateral held by the Fund was $260,055. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $223,898. |
(b) | Reflects the 1-day yield at April 30, 2018. |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Japan ETF (continued)
April 30, 2018
Purchased Contracts | Settlement Date | Counterparty | Currency | Value at | Value at | Unrealized | ||||||||||||||||
Japanese Yen | 05/08/18 | Merrill Lynch | 1,797,754,947 | $ | 16,438,090 | $ | 16,438,175 | $ | 85 | |||||||||||||
Unrealized Appreciation | $ | 16,438,090 | $ | 16,438,175 | $ | 85 |
Sold Contracts | Settlement Date | Counterparty | Currency | Value at | Value at | Unrealized | ||||||||||||||||
Japanese Yen | 05/08/18 | Merrill Lynch | (1,855,818,747 | ) | $ | (17,492,047 | ) | $ | (16,969,094 | ) | $ | 522,953 | ||||||||||
Unrealized Appreciation | $ | (17,492,047 | ) | $ | (16,969,094 | ) | $ | 522,953 | ||||||||||||||
Total Unrealized Appreciation | $ | 523,038 |
Purchased Contracts | Settlement Date | Counterparty | Currency | Value at | Value at | Unrealized | ||||||||||||||||
Japanese Yen | 05/08/18 | Merrill Lynch | 58,063,800 | $ | 542,171 | $ | 530,920 | $ | (11,251 | ) | ||||||||||||
Unrealized Depreciation | $ | 542,171 | $ | 530,920 | $ | (11,251 | ) |
Sold Contracts | Settlement Date | Counterparty | Currency | Value at | Value at | Unrealized | ||||||||||||||||||||
Japanese Yen | 06/07/18 | Merrill Lynch | (1,877,501,512 | ) | $ | (17,192,733 | ) | $ | (17,203,419 | ) | $ | (10,686 | ) | |||||||||||||
Unrealized Depreciation | $ | (17,192,733 | ) | $ | (17,203,419 | ) | $ | (10,686 | ) | |||||||||||||||||
Total Unrealized Depreciation | $ | (21,937 | ) | |||||||||||||||||||||||
Net Unrealized Appreciation (Depreciation) | $ | 501,101 |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(c) | ||||||||||||||||||
Common Stocks | $ | 34,307,877 | $ | — | $ | — | $ | 34,307,877 | ||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 36,157 | — | — | 36,157 | ||||||||||||||
Total Investments in Securities | 34,344,034 | — | — | 34,344,034 | ||||||||||||||
Other Financial Instruments:(d) | ||||||||||||||||||
Forward Foreign Currency Contracts | — | 523,038 | — | 523,038 | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 34,344,034 | $ | 523,038 | $ | — | $ | 34,867,072 | ||||||||||
Liability Valuation Inputs | ||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(d) | ||||||||||||||||||
Forward Foreign Currency Contracts | $ | — | $ | 21,937 | $ | — | $ | 21,937 | ||||||||||
Total Other Financial Instruments | $ | — | $ | 21,937 | $ | — | $ | 21,937 |
(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.
Schedules of Investments — IQ Leaders GTAA Tracker ETF
April 30, 2018
Shares | Value | |||||||||
Investment Companies — 99.9% | ||||||||||
Aggregate Bond Funds — 22.8% | ||||||||||
iShares Core U.S. Aggregate Bond ETF | 61,994 | $ | 6,571,364 | |||||||
SPDR Portfolio Aggregate Bond ETF | 10,183 | 283,597 | ||||||||
Vanguard Total Bond Market ETF | 56,026 | 4,428,855 | ||||||||
Total Aggregate Bond Funds | 11,283,816 | |||||||||
Convertible Bond Fund — 9.0% | ||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF(a) | 86,605 | �� | 4,454,961 | |||||||
Emerging Equity Funds — 6.1% | ||||||||||
iShares Core MSCI Emerging Markets ETF | 22,592 | 1,284,355 | ||||||||
Vanguard FTSE Emerging Markets ETF | 38,507 | 1,759,000 | ||||||||
Total Emerging Equity Funds | 3,043,355 | |||||||||
High Yield Corporate Bond Funds — 4.0% | ||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF(a)(b) | 14,170 | 1,214,369 | ||||||||
SPDR Bloomberg Barclays High Yield Bond ETF(a) | 21,407 | 767,869 | ||||||||
Total High Yield Corporate Bond Funds | 1,982,238 | |||||||||
International Equity Core Funds — 28.2% | ||||||||||
iShares Core MSCI EAFE ETF | 92,700 | 6,177,528 | ||||||||
Vanguard FTSE Developed Markets ETF(a) | 173,547 | 7,776,641 | ||||||||
Total International Equity Core Funds | 13,954,169 | |||||||||
U.S. Large Cap Core Funds — 25.1% | ||||||||||
Consumer Discretionary Select Sector SPDR Fund | 20,679 | 2,144,412 | ||||||||
Consumer Staples Select Sector SPDR Fund | 5,224 | 263,551 | ||||||||
Energy Select Sector SPDR Fund | 3,774 | 278,559 | ||||||||
Financial Select Sector SPDR Fund | 78,354 | 2,150,817 | ||||||||
Health Care Select Sector SPDR Fund | 5,421 | 445,932 | ||||||||
Industrial Select Sector SPDR Fund | 38,693 | 2,794,409 | ||||||||
Materials Select Sector SPDR Fund | 2,016 | 114,932 | ||||||||
Technology Select Sector SPDR Fund | 6,879 | 450,299 | ||||||||
Utilities Select Sector SPDR Fund(a) | 16,069 | 828,518 | ||||||||
Vanguard Consumer Discretionary ETF(a) | 2,739 | 442,842 | ||||||||
Vanguard Consumer Staples ETF | 849 | 111,278 | ||||||||
Vanguard Energy ETF(a) | 617 | 62,515 | ||||||||
Vanguard Financials ETF(a) | 8,014 | 554,729 | ||||||||
Vanguard Health Care ETF(a) | 1,325 | 205,282 | ||||||||
Vanguard Industrials ETF(a) | 5,764 | 780,330 | ||||||||
Vanguard Information Technology ETF | 2,357 | 402,953 | ||||||||
Vanguard Materials ETF(a) | 502 | 65,019 | ||||||||
Vanguard Utilities ETF | 2,597 | 297,538 | ||||||||
Total U.S. Large Cap Core Funds | 12,393,915 | |||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Medium Term Treasury Bond Fund — 4.7% | ||||||||||
iShares 7-10 Year Treasury Bond ETF(a) | 22,716 | $ | 2,310,217 | |||||||
Total Investment Companies | ||||||||||
(Cost $48,983,202) | 49,422,671 | |||||||||
Short-Term Investment — 0.2% | ||||||||||
Money Market Fund — 0.2% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 1.58%(c) | ||||||||||
(Cost $86,391) | 86,391 | 86,391 | ||||||||
Investment of Cash Collateral For Securities Loaned — 15.6% | �� | |||||||||
Money Market Fund — 15.6% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 1.61%(c) | ||||||||||
(Cost $7,739,673) | 7,739,673 | 7,739,673 | ||||||||
Total Investments — 115.7% | ||||||||||
(Cost $56,809,266) | 57,248,735 | |||||||||
Other Assets and Liabilities, Net — (15.7)% | (7,775,958 | ) | ||||||||
Net Assets — 100.0% | $ | 49,472,777 |
(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 $8,117,227; total market value of collateral held by the Fund was $8,331,285. Market value of the collateral held includes non-cash U.S. Treasury securities having a value of $591,612. |
(b) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $243,388. |
(c) | Reflects the 1-day yield at April 30, 2018. |
See notes to financial statements.
Schedules of Investments — IQ Leaders GTAA Tracker ETF (continued)
April 30, 2018
Total Return Benchmark | Counterparty | Annual | Expiration | Payment | Notional | Value/ | ||||||||||||
Consumer Discretionary Select Sector SPDR Fund | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | $ | 120,396 | $ | — | ||||||||||
Consumer Staples Select Sector SPDR Fund | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 14,782 | — | ||||||||||||
Energy Select Sector SPDR Fund | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 15,648 | — | ||||||||||||
Financial Select Sector SPDR Fund | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 120,725 | — | ||||||||||||
Health Care Select Sector SPDR Fund | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 25,007 | — | ||||||||||||
Industrial Select Sector SPDR Fund | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 156,862 | — | ||||||||||||
iShares 7-10 Year Treasury Bond ETF | 2.20 | 10/03/2019 | Monthly | 129,668 | — | |||||||||||||
iShares Core MSCI EAFE ETF | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 346,728 | — | ||||||||||||
iShares Core MSCI Emerging Markets ETF | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 72,086 | — | ||||||||||||
iShares Core U.S. Aggregate Bond ETF | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 368,774 | — | ||||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 68,132 | — | ||||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | Morgan Stanley | 1.25 | 10/03/2019 | Monthly | (243,345 | ) | — | |||||||||||
iShares Russell 2000 ETF | Morgan Stanley | 1.30 | 10/03/2019 | Monthly | (1,950,384 | ) | — | |||||||||||
Materials Select Sector SPDR Fund | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 6,442 | — | ||||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 250,050 | — | ||||||||||||
SPDR Bloomberg Barclays High Yield Bond ETF | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 43,080 | — | ||||||||||||
SPDR Portfolio Aggregate Bond ETF | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 15,902 | — | ||||||||||||
Technology Select Sector SPDR Fund | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 25,268 | — | ||||||||||||
Utilities Select Sector SPDR Fund | 2.20 | 10/03/2019 | Monthly | 46,507 | — | |||||||||||||
Vanguard Consumer Discretionary ETF | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 24,899 | — | ||||||||||||
Vanguard Consumer Staples ETF | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 6,291 | — | ||||||||||||
Vanguard Energy ETF | 2.20 | 10/03/2019 | Monthly | 3,040 | — | |||||||||||||
Vanguard Financials ETF | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 31,149 | — | ||||||||||||
Vanguard FTSE Developed Markets ETF | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 436,449 | — | ||||||||||||
Vanguard FTSE Emerging Markets ETF | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 98,714 | — | ||||||||||||
Vanguard Health Care ETF | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 11,465 | — | ||||||||||||
Vanguard Industrials ETF | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 43,728 | — | ||||||||||||
Vanguard Information Technology ETF | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 22,567 | — | ||||||||||||
Vanguard Materials ETF | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 3,627 | — | ||||||||||||
Vanguard Real Estate ETF | Morgan Stanley | 1.15 | 10/03/2019 | Monthly | (624,014 | ) | — | |||||||||||
Vanguard Total Bond Market ETF | Morgan Stanley | 2.20 | 10/03/2019 | Monthly | 248,533 | — | ||||||||||||
Vanguard Utilities ETF | 2.20 | 10/03/2019 | Monthly | 16,384 | — | |||||||||||||
$ | — |
(d) | Reflects the value at reset date of April 30, 2018. |
See notes to financial statements.
Schedules of Investments — IQ Leaders GTAA Tracker ETF (continued)
April 30, 2018
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(e) | ||||||||||||||||||
Investment Companies | $ | 49,422,671 | $ | — | $ | — | $ | 49,422,671 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 86,391 | — | — | 86,391 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 7,739,673 | — | — | 7,739,673 | ||||||||||||||
Total Investments in Securities | 57,248,735 | — | — | 57,248,735 | ||||||||||||||
Other Financial Instruments:(f) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 57,248,735 | $ | — | $ | — | $ | 57,248,735 | ||||||||||
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.
Schedules of Investments — IQ Enhanced Core Bond U.S. ETF
April 30, 2018
Shares | Value | |||||||||
Investment Companies — 99.8% | ||||||||||
Investment Grade Corporate Bond Funds — 36.7% | ||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | 74,823 | $ | 8,621,106 | |||||||
iShares U.S. Credit Bond ETF | 3,771 | 405,797 | ||||||||
Vanguard Intermediate-Term Corporate Bond ETF | 116,114 | 9,715,259 | ||||||||
Total Investment Grade Corporate Bond Funds | 18,742,162 | |||||||||
Mortgage Backed Securities Funds — 28.6% | ||||||||||
iShares MBS ETF(a) | 51,573 | 5,353,793 | ||||||||
SPDR Bloomberg Barclays Mortgage Backed Bond ETF | 94,676 | 2,397,197 | ||||||||
Vanguard Mortgage-Backed Securities ETF | 134,466 | 6,887,348 | ||||||||
Total Mortgage Backed Securities Funds | 14,638,338 | |||||||||
U.S. Intermediate Term Treasury Bond Funds — 3.6% | ||||||||||
Schwab Intermediate-Term U.S. Treasury ETF(a) | 18,905 | 983,438 | ||||||||
Vanguard Intermediate-Term Treasury ETF | 13,531 | 843,116 | ||||||||
Total U.S. Intermediate Term Treasury Bond Funds | 1,826,554 | |||||||||
U.S. Long Term Treasury Bond Funds — 30.1% | ||||||||||
iShares 10-20 Year Treasury Bond ETF(a) | 1,740 | 226,113 | ||||||||
iShares 20+ Year Treasury Bond ETF | 20,957 | 2,495,979 | ||||||||
SPDR Portfolio Long Term Treasury ETF | 198,344 | 6,805,182 | ||||||||
Vanguard Long-Term Treasury ETF | 79,543 | 5,832,093 | ||||||||
Total U.S. Long Term Treasury Bond Funds | 15,359,367 | |||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Medium Term Treasury Bond Funds — 0.8% | ||||||||||
iShares 3-7 Year Treasury Bond ETF | 2,629 | $ | 314,218 | |||||||
iShares 7-10 Year Treasury Bond ETF | 780 | 79,326 | ||||||||
Total U.S. Medium Term Treasury Bond Funds | 393,544 | |||||||||
Total Investment Companies | ||||||||||
(Cost $52,480,850) | 50,959,965 | |||||||||
Short-Term Investment — 0.2% | ||||||||||
Money Market Fund — 0.2% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 1.58%(b) | ||||||||||
(Cost $126,884) | 126,884 | 126,884 | ||||||||
Investment of Cash Collateral For Securities Loaned — 1.0% | ||||||||||
Money Market Fund — 1.0% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 1.61%(b) | ||||||||||
(Cost $528,755) | 528,755 | 528,755 | ||||||||
Total Investments — 101.0% | ||||||||||
(Cost $53,136,489) | 51,615,604 | |||||||||
Other Assets and Liabilities, Net — (1.0)% | (533,747 | ) | ||||||||
Net Assets — 100.0% | $ | 51,081,857 |
(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 $518,694; total market value of collateral held by the Fund was $528,755. |
(b) | Reflects the 1-day yield at April 30, 2018. |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(c) | ||||||||||||||||||
Investment Companies | $ | 50,959,965 | $ | — | $ | — | $ | 50,959,965 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 126,884 | — | — | 126,884 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 528,755 | — | — | 528,755 | ||||||||||||||
Total Investments in Securities | $ | 51,615,604 | $ | — | $ | — | $ | 51,615,604 |
(c) | For a complete listing of investments and their industries, see the Schedules of Investments. |
See notes to financial statements.
Schedules of Investments — IQ Enhanced Core Plus Bond U.S. ETF
April 30, 2018
Shares | Value | |||||||||
Investment Companies — 99.8% | ||||||||||
High Yield Corporate Bond Funds — 22.2% | ||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF(a) | 390,040 | $ | 33,426,428 | |||||||
SPDR Bloomberg Barclays High Yield Bond ETF(a) | 1,141,385 | 40,941,480 | ||||||||
Total High Yield Corporate Bond Funds | 74,367,908 | |||||||||
Investment Grade Corporate Bond Funds — 38.0% | ||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | 506,369 | 58,343,836 | ||||||||
iShares U.S. Credit Bond ETF | 25,521 | 2,746,315 | ||||||||
Vanguard Intermediate-Term Corporate Bond ETF | 785,816 | 65,749,225 | ||||||||
Total Investment Grade Corporate Bond Funds | 126,839,376 | |||||||||
Mortgage Backed Securities Funds — 24.1% | ||||||||||
iShares MBS ETF | 283,442 | 29,424,114 | ||||||||
SPDR Bloomberg Barclays Mortgage Backed Bond ETF | 520,339 | 13,174,984 | ||||||||
Vanguard Mortgage-Backed Securities ETF | 739,018 | 37,852,502 | ||||||||
Total Mortgage Backed Securities Funds | 80,451,600 | |||||||||
U.S. Long Term Treasury Bond Funds — 15.5% | ||||||||||
iShares 10-20 Year Treasury Bond ETF(a) | 5,869 | 762,676 | ||||||||
iShares 20+ Year Treasury Bond ETF | 70,685 | 8,418,583 | ||||||||
SPDR Portfolio Long Term Treasury ETF | 669,005 | 22,953,562 | ||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Long Term Treasury Bond Funds (continued) | ||||||||||
Vanguard Long-Term Treasury ETF(a) | 268,296 | $ | 19,671,463 | |||||||
Total U.S. Long Term Treasury Bond Funds | 51,806,284 | |||||||||
Total Investment Companies | ||||||||||
(Cost $341,229,263) | 333,465,168 | |||||||||
Short-Term Investment — 0.2% | ||||||||||
Money Market Fund — 0.2% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 1.58%(b) | ||||||||||
(Cost $496,976) | 496,976 | 496,976 | ||||||||
Investment of Cash Collateral For Securities Loaned — 22.0% | ||||||||||
Money Market Fund — 22.0% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 1.61%(b) | ||||||||||
(Cost $73,354,896) | 73,354,896 | 73,354,896 | ||||||||
Total Investments — 122.0% | ||||||||||
(Cost $415,081,135) | 407,317,040 | |||||||||
Other Assets and Liabilities, Net — (22.0)% | (73,327,392 | ) | ||||||||
Net Assets — 100.0% | $ | 333,989,648 |
(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 $74,895,524; total market value of collateral held by the Fund was $76,692,065. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $3,337,169. |
(b) | Reflects the 1-day yield at April 30, 2018. |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(c) | ||||||||||||||||||
Investment Companies | $ | 333,465,168 | $ | — | $ | — | $ | 333,465,168 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 496,976 | — | — | 496,976 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 73,354,896 | — | — | 73,354,896 | ||||||||||||||
Total Investments in Securities | $ | 407,317,040 | $ | — | $ | — | $ | 407,317,040 |
(c) | For a complete listing of investments and their industries, see the Schedules of Investments. |
See notes to financial statements.
Schedules of Investments — IQ Enhanced Core Plus Bond U.S. ETF (continued)
April 30, 2018
Shares at | Value | Purchases | Sales | Net | Net | Income | Capital | Shares at | Value | |||||||||||||||||||||||||||||||||
SPDR | ||||||||||||||||||||||||||||||||||||||||||
Bloomberg | ||||||||||||||||||||||||||||||||||||||||||
Barclays | ||||||||||||||||||||||||||||||||||||||||||
Mortgage | ||||||||||||||||||||||||||||||||||||||||||
Backed Bond | ||||||||||||||||||||||||||||||||||||||||||
ETF | 402,831 | 10,610,568 | 39,065,014 | 36,007,770 | (511,437 | ) | 18,609 | 263,724 | — | 520,339 | 13,174,984 | |||||||||||||||||||||||||||||||
402,831 | 10,610,568 | 39,065,014 | 36,007,770 | (511,437 | ) | 18,609 | 263,724 | — | 520,339 | 13,174,984 |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF
April 30, 2018
Principal Amount | Value | |||||||||
Long-Term Bonds 97.3% | ||||||||||
Corporate Bonds — 87.1% | ||||||||||
Consumer Discretionary — 10.0% | ||||||||||
Allison Transmission, Inc. | ||||||||||
5.000%, due 10/1/24‡ | $ | 325,000 | $ | 319,312 | ||||||
Boyd Gaming Corp. | ||||||||||
6.375%, due 4/1/26 | 230,000 | 240,637 | ||||||||
Dana, Inc. | ||||||||||
5.500%, due 12/15/24 | 120,000 | 121,800 | ||||||||
ESH Hospitality, Inc. | ||||||||||
5.250%, due 5/1/25‡ | 365,000 | 355,875 | ||||||||
Goodyear Tire & Rubber Co. (The) | ||||||||||
4.875%, due 3/15/27 | 190,000 | 177,650 | ||||||||
5.000%, due 5/31/26 | 250,000 | 238,125 | ||||||||
5.125%, due 11/15/23 | 295,000 | 293,525 | ||||||||
Hanesbrands, Inc. | ||||||||||
4.625%, due 5/15/24‡ | 290,000 | 280,575 | ||||||||
4.875%, due 5/15/26‡ | 255,000 | 245,437 | ||||||||
Hilton Domestic Operating Co., Inc. | ||||||||||
4.250%, due 9/1/24 | 300,000 | 286,500 | ||||||||
5.125%, due 5/1/26‡ | 425,000 | 424,469 | ||||||||
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp. | ||||||||||
4.625%, due 4/1/25 | 250,000 | 241,875 | ||||||||
4.875%, due 4/1/27 | 150,000 | 144,750 | ||||||||
International Game Technology PLC | ||||||||||
6.250%, due 2/15/22‡ | 700,000 | 733,250 | ||||||||
6.500%, due 2/15/25‡ | 220,000 | 234,850 | ||||||||
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC | ||||||||||
4.750%, due 6/1/27‡ | 225,000 | 216,000 | ||||||||
5.000%, due 6/1/24‡ | 340,000 | 338,725 | ||||||||
5.250%, due 6/1/26‡ | 275,000 | 276,375 | ||||||||
L Brands, Inc. | ||||||||||
5.625%, due 2/15/22 | 350,000 | 363,125 | ||||||||
5.625%, due 10/15/23 | 100,000 | 103,750 | ||||||||
6.625%, due 4/1/21 | 210,000 | 222,600 | ||||||||
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc. | ||||||||||
4.500%, due 9/1/26 | 130,000 | 122,687 | ||||||||
5.625%, due 5/1/24 | 315,000 | 321,300 | ||||||||
MGM Resorts International | ||||||||||
4.625%, due 9/1/26 | 95,000 | 89,894 | ||||||||
5.250%, due 3/31/20 | 150,000 | 153,750 | ||||||||
6.000%, due 3/15/23 | 575,000 | 599,437 | ||||||||
6.625%, due 12/15/21 | 350,000 | 373,625 | ||||||||
6.750%, due 10/1/20 | 325,000 | 344,500 | ||||||||
7.750%, due 3/15/22 | 150,000 | 166,312 | ||||||||
Navistar International Corp. | ||||||||||
6.625%, due 11/1/25‡ | 325,000 | 337,188 | ||||||||
Penske Automotive Group, Inc. | ||||||||||
5.750%, due 10/1/22 | 175,000 | 179,594 | ||||||||
QVC, Inc. | ||||||||||
4.375%, due 3/15/23 | 140,000 | 139,455 | ||||||||
4.450%, due 2/15/25 | 115,000 | 112,169 | ||||||||
4.850%, due 4/1/24 | 225,000 | 226,556 | ||||||||
5.125%, due 7/2/22 | 80,000 | 82,139 | ||||||||
Scientific Games International, Inc. | ||||||||||
5.000%, due 10/15/25‡ | 350,000 | 338,188 | ||||||||
Six Flags Entertainment Corp. | ||||||||||
4.875%, due 7/31/24‡ | 300,000 | 292,500 | ||||||||
5.500%, due 4/15/27‡ | 150,000 | 148,875 | ||||||||
Shares | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Consumer Discretionary (continued) | ||||||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. | ||||||||||
4.250%, due 5/30/23‡ | $ | 115,000 | $ | 110,688 | ||||||
5.250%, due 5/15/27‡ | 225,000 | 216,844 | ||||||||
5.500%, due 3/1/25‡ | 540,000 | 537,300 | ||||||||
10,752,206 | ||||||||||
Consumer Staples — 1.2% | ||||||||||
B&G Foods, Inc. | ||||||||||
4.625%, due 6/1/21 | 200,000 | 197,500 | ||||||||
First Quality Finance Co., Inc. | ||||||||||
4.625%, due 5/15/21‡ | 175,000 | 172,812 | ||||||||
Lamb Weston Holdings, Inc. | ||||||||||
4.625%, due 11/1/24‡ | 250,000 | 247,813 | ||||||||
4.875%, due 11/1/26‡ | 215,000 | 212,850 | ||||||||
Spectrum Brands, Inc. | ||||||||||
5.750%, due 7/15/25 | 280,000 | 278,950 | ||||||||
Tempur Sealy International, Inc. | ||||||||||
5.625%, due 10/15/23 | 115,000 | 115,575 | ||||||||
1,225,500 | ||||||||||
Energy — 11.6% | ||||||||||
Antero Midstream Partners LP / Antero Midstream Finance Corp. | ||||||||||
5.375%, due 9/15/24 | 175,000 | 174,562 | ||||||||
Antero Resources Corp. | ||||||||||
5.000%, due 3/1/25 | 175,000 | 175,219 | ||||||||
5.125%, due 12/1/22 | 300,000 | 302,250 | ||||||||
5.375%, due 11/1/21 | 275,000 | 278,437 | ||||||||
5.625%, due 6/1/23 | 200,000 | 204,250 | ||||||||
Cheniere Corpus Christi Holdings LLC | ||||||||||
5.125%, due 6/30/27 | 425,000 | 413,312 | ||||||||
5.875%, due 3/31/25 | 490,000 | 503,475 | ||||||||
7.000%, due 6/30/24 | 330,000 | 360,525 | ||||||||
Cheniere Energy Partners LP | ||||||||||
5.250%, due 10/1/25‡ | 425,000 | 414,375 | ||||||||
Continental Resources, Inc. | ||||||||||
3.800%, due 6/1/24 | 300,000 | 291,000 | ||||||||
4.375%, due 1/15/28‡ | 350,000 | 344,750 | ||||||||
4.500%, due 4/15/23 | 350,000 | 354,375 | ||||||||
4.900%, due 6/1/44 | 200,000 | 195,000 | ||||||||
5.000%, due 9/15/22 | 600,000 | 609,000 | ||||||||
Endeavor Energy Resources LP / EER Finance, Inc. | ||||||||||
5.500%, due 1/30/26‡ | 300,000 | 300,750 | ||||||||
Energy Transfer Equity LP | ||||||||||
4.250%, due 3/15/23 | 350,000 | 338,625 | ||||||||
5.500%, due 6/1/27 | 275,000 | 273,625 | ||||||||
5.875%, due 1/15/24 | 340,000 | 346,800 | ||||||||
7.500%, due 10/15/20 | 320,000 | 342,400 | ||||||||
Hess Infrastructure Partners LP / Hess Infrastructure Partners Finance Corp. | ||||||||||
5.625%, due 2/15/26‡ | 225,000 | 227,250 | ||||||||
Hilcorp Energy I LP / Hilcorp Finance Co. | ||||||||||
5.000%, due 12/1/24‡ | 150,000 | 146,250 | ||||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. | ||||||||||
5.250%, due 3/15/22‡ | 125,000 | 125,312 |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
April 30, 2018
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Energy (continued) | ||||||||||
Murphy Oil Corp. | ||||||||||
6.875%, due 8/15/24 | $ | 325,000 | $ | 344,094 | ||||||
Newfield Exploration Co. | ||||||||||
5.375%, due 1/1/26 | 175,000 | 181,125 | ||||||||
5.625%, due 7/1/24 | 365,000 | 386,900 | ||||||||
NGPL PipeCo LLC | ||||||||||
4.375%, due 8/15/22‡ | 200,000 | 200,000 | ||||||||
4.875%, due 8/15/27‡ | 175,000 | 169,750 | ||||||||
Parsley Energy LLC / Parsley Finance Corp. | ||||||||||
5.250%, due 8/15/25‡ | 120,000 | 120,000 | ||||||||
5.375%, due 1/15/25‡ | 185,000 | 185,462 | ||||||||
5.625%, due 10/15/27‡ | 200,000 | 202,500 | ||||||||
PDC Energy, Inc. | ||||||||||
5.750%, due 5/15/26‡ | 175,000 | 176,312 | ||||||||
Radian Group, Inc. | ||||||||||
4.500%, due 10/1/24 | 125,000 | 120,000 | ||||||||
Range Resources Corp. | ||||||||||
5.750%, due 6/1/21 | 150,000 | 153,375 | ||||||||
RSP Permian, Inc. | ||||||||||
5.250%, due 1/15/25 | 125,000 | 128,750 | ||||||||
Sable Permian Resources Land LLC / AEPB Finance Corp. | ||||||||||
13.000%, due 11/30/20‡ | 150,000 | 170,625 | ||||||||
Springleaf Finance Corp. | ||||||||||
7.750%, due 10/1/21 | 200,000 | 217,750 | ||||||||
8.250%, due 12/15/20 | 275,000 | 302,844 | ||||||||
Sunoco LP / Sunoco Finance Corp. | ||||||||||
4.875%, due 1/15/23‡ | 300,000 | 294,000 | ||||||||
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. | ||||||||||
5.500%, due 9/15/24‡ | 200,000 | 202,500 | ||||||||
5.500%, due 1/15/28‡ | 250,000 | 249,375 | ||||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp. | ||||||||||
4.125%, due 11/15/19 | 425,000 | 426,063 | ||||||||
5.375%, due 2/1/27 | 150,000 | 143,625 | ||||||||
6.750%, due 3/15/24 | 125,000 | 130,938 | ||||||||
Whiting Petroleum Corp. | ||||||||||
5.750%, due 3/15/21 | 250,000 | 255,938 | ||||||||
Williams Cos., Inc. (The) | ||||||||||
4.550%, due 6/24/24 | 345,000 | 343,706 | ||||||||
5.750%, due 6/24/44 | 205,000 | 213,713 | ||||||||
WPX Energy, Inc. | ||||||||||
5.250%, due 9/15/24 | 175,000 | 176,313 | ||||||||
8.250%, due 8/1/23 | 150,000 | 170,250 | ||||||||
12,387,450 | ||||||||||
Financials — 5.0% | ||||||||||
Aircastle Ltd. | ||||||||||
4.125%, due 5/1/24 | 225,000 | 220,219 | ||||||||
5.000%, due 4/1/23 | 80,000 | 82,100 | ||||||||
5.125%, due 3/15/21 | 160,000 | 163,600 | ||||||||
5.500%, due 2/15/22 | 80,000 | 83,100 | ||||||||
Ally Financial, Inc. | ||||||||||
3.500%, due 1/27/19 | 225,000 | 225,281 | ||||||||
3.750%, due 11/18/19 | 300,000 | 300,375 | ||||||||
4.125%, due 3/30/20 | 200,000 | 201,000 | ||||||||
4.125%, due 2/13/22 | 30,000 | 29,850 | ||||||||
4.250%, due 4/15/21 | 175,000 | 175,875 | ||||||||
4.625%, due 3/30/25 | 255,000 | 253,087 | ||||||||
5.125%, due 9/30/24 | 250,000 | 256,875 | ||||||||
8.000%, due 11/1/31 | 550,000 | 668,250 | ||||||||
Shares | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Financials (continued) | ||||||||||
CIT Group, Inc. | ||||||||||
3.875%, due 2/19/19 | $ | 145,000 | $ | 145,544 | ||||||
5.000%, due 8/15/22 | 271,000 | 277,098 | ||||||||
5.000%, due 8/1/23 | 225,000 | 229,500 | ||||||||
5.250%, due 3/7/25 | 200,000 | 204,250 | ||||||||
MSCI, Inc. | ||||||||||
4.750%, due 8/1/26‡ | �� | 225,000 | 222,469 | |||||||
5.250%, due 11/15/24‡ | 180,000 | 184,050 | ||||||||
5.750%, due 8/15/25‡ | 200,000 | 208,500 | ||||||||
Navient Corp. | ||||||||||
5.000%, due 10/26/20 | 125,000 | 125,781 | ||||||||
5.875%, due 3/25/21 | 175,000 | 179,375 | ||||||||
Series MTN, 4.875%, due 6/17/19 | 320,000 | 322,800 | ||||||||
Series MTN, 8.000%, due 3/25/20 | 425,000 | 452,625 | ||||||||
Springleaf Finance Corp. | ||||||||||
5.250%, due 12/15/19 | 175,000 | 179,156 | ||||||||
5,390,760 | ||||||||||
Health Care — 10.9% | ||||||||||
Acadia Healthcare Co., Inc. | ||||||||||
5.625%, due 2/15/23 | 175,000 | 176,312 | ||||||||
Centene Corp. | ||||||||||
4.750%, due 5/15/22 | 335,000 | 340,025 | ||||||||
4.750%, due 1/15/25 | 380,000 | 369,550 | ||||||||
5.625%, due 2/15/21 | 400,000 | 410,000 | ||||||||
6.125%, due 2/15/24 | 155,000 | 162,362 | ||||||||
DaVita, Inc. | ||||||||||
5.125%, due 7/15/24 | 495,000 | 477,675 | ||||||||
5.750%, due 8/15/22 | 350,000 | 357,437 | ||||||||
Encompass Health Corp. | ||||||||||
5.750%, due 11/1/24 | 320,000 | 324,800 | ||||||||
Envision Healthcare Corp. | ||||||||||
5.125%, due 7/1/22‡ | 200,000 | 197,500 | ||||||||
5.625%, due 7/15/22 | 290,000 | 290,725 | ||||||||
6.250%, due 12/1/24‡ | 150,000 | 155,625 | ||||||||
HCA Healthcare, Inc. | ||||||||||
6.250%, due 2/15/21 | 110,000 | 115,637 | ||||||||
HCA, Inc. | ||||||||||
3.750%, due 3/15/19 | 50,000 | 50,125 | ||||||||
4.250%, due 10/15/19 | 35,000 | 35,262 | ||||||||
4.500%, due 2/15/27 | 215,000 | 205,862 | ||||||||
4.750%, due 5/1/23 | 195,000 | 197,194 | ||||||||
5.000%, due 3/15/24 | 300,000 | 303,375 | ||||||||
5.250%, due 4/15/25 | 105,000 | 106,312 | ||||||||
5.250%, due 6/15/26 | 125,000 | 125,469 | ||||||||
5.375%, due 2/1/25 | 380,000 | 379,050 | ||||||||
5.500%, due 6/15/47 | 175,000 | 165,375 | ||||||||
5.875%, due 3/15/22 | 125,000 | 131,719 | ||||||||
5.875%, due 5/1/23 | 125,000 | 130,312 | ||||||||
5.875%, due 2/15/26 | 225,000 | 228,094 | ||||||||
6.500%, due 2/15/20 | 480,000 | 502,200 | ||||||||
7.500%, due 2/15/22 | 495,000 | 544,500 | ||||||||
Hologic, Inc. | ||||||||||
4.375%, due 10/15/25‡ | 275,000 | 264,687 | ||||||||
IQVIA, Inc. | ||||||||||
4.875%, due 5/15/23‡ | 225,000 | 227,813 | ||||||||
5.000%, due 10/15/26‡ | 280,000 | 276,500 | ||||||||
Kindred Healthcare, Inc. | ||||||||||
8.000%, due 1/15/20 | 210,000 | 224,963 | ||||||||
LifePoint Health, Inc. | ||||||||||
5.500%, due 12/1/21 | 300,000 | 300,750 |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
April 30, 2018
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Health Care (continued) | ||||||||||
Service Corp. International | ||||||||||
4.625%, due 12/15/27 | $ | 150,000 | $ | 146,813 | ||||||
5.375%, due 5/15/24 | 205,000 | 209,869 | ||||||||
Teleflex, Inc. | ||||||||||
4.625%, due 11/15/27 | 200,000 | 192,000 | ||||||||
Tenet Healthcare Corp. | ||||||||||
4.375%, due 10/1/21 | 285,000 | 281,438 | ||||||||
4.500%, due 4/1/21 | 375,000 | 372,656 | ||||||||
4.625%, due 7/15/24‡ | 550,000 | 532,125 | ||||||||
4.750%, due 6/1/20 | 75,000 | 75,563 | ||||||||
5.125%, due 5/1/25‡ | 400,000 | 388,000 | ||||||||
6.000%, due 10/1/20 | 400,000 | 413,000 | ||||||||
Valeant Pharmaceuticals International, Inc. | ||||||||||
5.500%, due 11/1/25‡ | 525,000 | 521,063 | ||||||||
6.500%, due 3/15/22‡ | 400,000 | 415,000 | ||||||||
WellCare Health Plans, Inc. | ||||||||||
5.250%, due 4/1/25 | 375,000 | 377,813 | ||||||||
11,702,550 | ||||||||||
Industrials — 9.4% | ||||||||||
ADT Corp. (The) | ||||||||||
3.500%, due 7/15/22 | 245,000 | 229,075 | ||||||||
4.125%, due 6/15/23 | 260,000 | 243,750 | ||||||||
6.250%, due 10/15/21 | 205,000 | 214,481 | ||||||||
AECOM | ||||||||||
5.125%, due 3/15/27 | 300,000 | 288,375 | ||||||||
5.875%, due 10/15/24 | 200,000 | 208,250 | ||||||||
Aramark Services, Inc. | ||||||||||
4.750%, due 6/1/26 | 165,000 | 160,050 | ||||||||
5.000%, due 4/1/25‡ | 200,000 | 201,250 | ||||||||
5.000%, due 2/1/28‡ | 300,000 | 292,500 | ||||||||
5.125%, due 1/15/24 | 305,000 | 310,337 | ||||||||
Beacon Roofing Supply, Inc. | ||||||||||
4.875%, due 11/1/25‡ | 350,000 | 330,750 | ||||||||
Griffon Corp. | ||||||||||
5.250%, due 3/1/22 | 300,000 | 298,875 | ||||||||
HD Supply, Inc. | ||||||||||
5.750%, due 4/15/24‡ | 255,000 | 267,750 | ||||||||
Iron Mountain, Inc. | ||||||||||
4.375%, due 6/1/21‡ | 155,000 | 154,806 | ||||||||
4.875%, due 9/15/27‡ | 325,000 | 305,906 | ||||||||
6.000%, due 8/15/23 | 85,000 | 87,550 | ||||||||
KB Home | ||||||||||
7.000%, due 12/15/21 | 150,000 | 159,375 | ||||||||
KLX, Inc. | ||||||||||
5.875%, due 12/1/22‡ | 350,000 | 365,313 | ||||||||
Lennar Corp. | ||||||||||
4.125%, due 1/15/22 | 105,000 | 103,950 | ||||||||
4.500%, due 6/15/19 | 175,000 | 176,750 | ||||||||
4.500%, due 11/15/19 | 125,000 | 126,094 | ||||||||
4.500%, due 4/30/24 | 75,000 | 73,125 | ||||||||
4.750%, due 4/1/21 | 180,000 | 182,475 | ||||||||
4.750%, due 11/15/22 | 125,000 | 125,625 | ||||||||
4.750%, due 5/30/25 | 290,000 | 282,025 | ||||||||
4.750%, due 11/29/27‡ | 225,000 | 212,063 | ||||||||
5.875%, due 11/15/24‡ | 125,000 | 129,063 | ||||||||
PulteGroup, Inc. | ||||||||||
4.250%, due 3/1/21 | 180,000 | 180,450 | ||||||||
5.000%, due 1/15/27 | 150,000 | 145,875 | ||||||||
5.500%, due 3/1/26 | 200,000 | 203,750 | ||||||||
Shares | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Industrials (continued) | ||||||||||
Sabre GLBL, Inc. | ||||||||||
5.250%, due 11/15/23‡ | $ | 75,000 | $ | 75,844 | ||||||
5.375%, due 4/15/23‡ | 210,000 | 211,575 | ||||||||
Standard Industries, Inc. | ||||||||||
4.750%, due 1/15/28‡ | 275,000 | 255,750 | ||||||||
5.000%, due 2/15/27‡ | 140,000 | 134,400 | ||||||||
5.375%, due 11/15/24‡ | 455,000 | 458,412 | ||||||||
5.500%, due 2/15/23‡ | 100,000 | 103,250 | ||||||||
6.000%, due 10/15/25‡ | 279,000 | 289,462 | ||||||||
Summit Materials LLC / Summit Materials Finance Corp. | ||||||||||
6.125%, due 7/15/23 | 200,000 | 204,500 | ||||||||
Toll Brothers Finance Corp. | ||||||||||
4.875%, due 3/15/27 | 100,000 | 97,250 | ||||||||
TransDigm, Inc. | ||||||||||
6.000%, due 7/15/22 | 325,000 | 329,469 | ||||||||
TRI Pointe Group, Inc. / TRI Pointe Homes, Inc. | ||||||||||
4.375%, due 6/15/19 | 130,000 | 130,325 | ||||||||
United Rentals North America, Inc. | ||||||||||
4.625%, due 10/15/25 | 225,000 | 218,531 | ||||||||
4.875%, due 1/15/28 | 475,000 | 448,875 | ||||||||
5.500%, due 7/15/25 | 275,000 | 281,875 | ||||||||
5.500%, due 5/15/27 | 340,000 | 338,300 | ||||||||
5.750%, due 11/15/24 | 190,000 | 196,650 | ||||||||
5.875%, due 9/15/26 | 250,000 | 260,625 | ||||||||
10,094,731 | ||||||||||
Information Technology — 7.2% | ||||||||||
CDK Global, Inc. | ||||||||||
4.875%, due 6/1/27 | 175,000 | 169,312 | ||||||||
5.000%, due 10/15/24 | 115,000 | 116,725 | ||||||||
CDW LLC / CDW Finance Corp. | ||||||||||
5.000%, due 9/1/23 | 200,000 | 204,000 | ||||||||
5.000%, due 9/1/25 | 125,000 | 124,375 | ||||||||
5.500%, due 12/1/24 | 160,000 | 165,600 | ||||||||
CommScope Technologies LLC | ||||||||||
5.000%, due 3/15/27‡ | 205,000 | 196,287 | ||||||||
6.000%, due 6/15/25‡ | 510,000 | 525,300 | ||||||||
CommScope, Inc. | ||||||||||
5.000%, due 6/15/21‡ | 125,000 | 126,250 | ||||||||
5.500%, due 6/15/24‡ | 180,000 | 183,600 | ||||||||
Dell International LLC / EMC Corp. | ||||||||||
5.875%, due 6/15/21‡ | 425,000 | 436,687 | ||||||||
7.125%, due 6/15/24‡ | 455,000 | 484,575 | ||||||||
EMC Corp. | ||||||||||
2.650%, due 6/1/20 | 535,000 | 518,950 | ||||||||
3.375%, due 6/1/23 | 305,000 | 283,650 | ||||||||
First Data Corp. | ||||||||||
5.000%, due 1/15/24‡ | 525,000 | 528,937 | ||||||||
5.375%, due 8/15/23‡ | 435,000 | 441,525 | ||||||||
5.750%, due 1/15/24‡ | 615,000 | 623,456 | ||||||||
NCR Corp. | ||||||||||
4.625%, due 2/15/21 | 175,000 | 174,563 | ||||||||
5.000%, due 7/15/22 | 100,000 | 99,500 | ||||||||
6.375%, due 12/15/23 | 255,000 | 263,925 | ||||||||
Nuance Communications, Inc. | ||||||||||
5.625%, due 12/15/26 | 130,000 | 129,025 | ||||||||
Sensata Technologies BV | ||||||||||
4.875%, due 10/15/23‡ | 150,000 | 151,313 |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
April 30, 2018
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Information Technology (continued) | ||||||||||
Sensata Technologies UK Financing Co. PLC | ||||||||||
6.250%, due 2/15/26‡ | $ | 265,000 | $ | 276,263 | ||||||
Symantec Corp. | ||||||||||
5.000%, due 4/15/25‡ | 300,000 | 300,178 | ||||||||
VeriSign, Inc. | ||||||||||
4.625%, due 5/1/23 | 260,000 | 261,950 | ||||||||
4.750%, due 7/15/27 | 175,000 | 168,000 | ||||||||
5.250%, due 4/1/25 | 120,000 | 123,150 | ||||||||
Western Digital Corp. | ||||||||||
4.750%, due 2/15/26 | 650,000 | 640,250 | ||||||||
7,717,346 | ||||||||||
Materials — 9.1% | ||||||||||
Alcoa Nederland Holding BV | ||||||||||
6.750%, due 9/30/24‡ | 230,000 | 246,387 | ||||||||
7.000%, due 9/30/26‡ | 140,000 | 152,512 | ||||||||
Arconic, Inc. | ||||||||||
5.125%, due 10/1/24 | 395,000 | 400,925 | ||||||||
5.400%, due 4/15/21 | 325,000 | 333,937 | ||||||||
6.150%, due 8/15/20 | 275,000 | 288,750 | ||||||||
Ashland LLC | ||||||||||
4.750%, due 8/15/22 | 305,000 | 308,050 | ||||||||
Ball Corp. | ||||||||||
4.000%, due 11/15/23 | 270,000 | 264,600 | ||||||||
4.375%, due 12/15/20 | 315,000 | 320,906 | ||||||||
4.875%, due 3/15/26 | 250,000 | 250,000 | ||||||||
5.250%, due 7/1/25 | 270,000 | 278,100 | ||||||||
Berry Global, Inc. | ||||||||||
4.500%, due 2/15/26‡ | 125,000 | 119,375 | ||||||||
5.125%, due 7/15/23 | 205,000 | 207,050 | ||||||||
5.500%, due 5/15/22 | 125,000 | 128,125 | ||||||||
Blue Cube Spinco, Inc. | ||||||||||
9.750%, due 10/15/23 | 200,000 | 229,500 | ||||||||
10.000%, due 10/15/25 | 150,000 | 175,500 | ||||||||
BWAY Holding Co. | ||||||||||
5.500%, due 4/15/24‡ | 425,000 | 427,656 | ||||||||
CF Industries, Inc. | ||||||||||
3.450%, due 6/1/23 | 220,000 | 208,450 | ||||||||
5.150%, due 3/15/34 | 185,000 | 169,044 | ||||||||
Chemours Co. (The) | ||||||||||
5.375%, due 5/15/27 | 150,000 | 148,500 | ||||||||
6.625%, due 5/15/23 | 250,000 | 262,812 | ||||||||
7.000%, due 5/15/25 | 220,000 | 237,600 | ||||||||
Crown Americas LLC / Crown Americas Capital Corp. VI | ||||||||||
4.750%, due 2/1/26‡ | 450,000 | 434,250 | ||||||||
Freeport-McMoRan, Inc. | ||||||||||
3.100%, due 3/15/20 | 275,000 | 270,875 | ||||||||
3.550%, due 3/1/22 | 525,000 | 507,938 | ||||||||
3.875%, due 3/15/23 | 500,000 | 479,375 | ||||||||
4.000%, due 11/14/21 | 175,000 | 174,125 | ||||||||
4.550%, due 11/14/24 | 325,000 | 313,219 | ||||||||
6.875%, due 2/15/23 | 200,000 | 214,000 | ||||||||
Olin Corp. | ||||||||||
5.000%, due 2/1/30 | 175,000 | 166,688 | ||||||||
5.125%, due 9/15/27 | 150,000 | 147,000 | ||||||||
Owens-Brockway Glass Container, Inc. | ||||||||||
5.000%, due 1/15/22‡ | 134,000 | 136,010 | ||||||||
5.875%, due 8/15/23‡ | 215,000 | 220,644 | ||||||||
Shares | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Materials (continued) | ||||||||||
Peabody Energy Corp. | ||||||||||
6.000%, due 3/31/22‡ | $ | 150,000 | $ | 154,125 | ||||||
6.375%, due 3/31/25‡ | 150,000 | 156,375 | ||||||||
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu | ||||||||||
5.125%, due 7/15/23‡ | 430,000 | 432,150 | ||||||||
Sealed Air Corp. | ||||||||||
4.875%, due 12/1/22‡ | 135,000 | 136,688 | ||||||||
5.125%, due 12/1/24‡ | 160,000 | 163,200 | ||||||||
Steel Dynamics, Inc. | ||||||||||
5.125%, due 10/1/21 | 200,000 | 203,750 | ||||||||
5.500%, due 10/1/24 | 65,000 | 67,275 | ||||||||
WR Grace & Co.-Conn. | ||||||||||
5.125%, due 10/1/21‡ | 170,000 | 174,675 | ||||||||
9,710,141 | ||||||||||
Media — 9.4% | ||||||||||
Altice US Finance I Corp. | ||||||||||
5.375%, due 7/15/23‡ | 300,000 | 301,500 | ||||||||
5.500%, due 5/15/26‡ | 445,000 | 433,319 | ||||||||
AMC Networks, Inc. | ||||||||||
4.750%, due 8/1/25 | 200,000 | 190,000 | ||||||||
5.000%, due 4/1/24 | 300,000 | 294,000 | ||||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | ||||||||||
4.000%, due 3/1/23‡ | 150,000 | 144,750 | ||||||||
5.000%, due 2/1/28‡ | 100,000 | 92,000 | ||||||||
5.125%, due 2/15/23 | 400,000 | 401,500 | ||||||||
5.125%, due 5/1/23‡ | 310,000 | 310,775 | ||||||||
5.250%, due 9/30/22 | 300,000 | 304,500 | ||||||||
5.375%, due 5/1/25‡ | 50,000 | 49,187 | ||||||||
5.500%, due 5/1/26‡ | 300,000 | 291,000 | ||||||||
5.750%, due 9/1/23 | 135,000 | 136,687 | ||||||||
5.750%, due 1/15/24 | 75,000 | 75,562 | ||||||||
5.750%, due 2/15/26‡ | 700,000 | 694,750 | ||||||||
5.875%, due 4/1/24‡ | 300,000 | 304,500 | ||||||||
5.875%, due 5/1/27‡ | 240,000 | 235,200 | ||||||||
Cequel Communications Holdings I LLC / Cequel Capital Corp. | ||||||||||
5.125%, due 12/15/21‡ | 250,000 | 250,000 | ||||||||
Cinemark USA, Inc. | ||||||||||
4.875%, due 6/1/23 | 200,000 | 198,000 | ||||||||
CSC Holdings LLC | ||||||||||
6.750%, due 11/15/21 | 330,000 | 346,912 | ||||||||
Lamar Media Corp. | ||||||||||
5.375%, due 1/15/24 | 160,000 | 163,600 | ||||||||
Live Nation Entertainment, Inc. | ||||||||||
4.875%, due 11/1/24‡ | 175,000 | 171,281 | ||||||||
Netflix, Inc. | ||||||||||
4.375%, due 11/15/26 | 340,000 | 317,050 | ||||||||
4.875%, due 4/15/28‡ | 425,000 | 400,563 | ||||||||
5.375%, due 2/1/21 | 150,000 | 154,500 | ||||||||
5.500%, due 2/15/22 | 210,000 | 217,875 | ||||||||
5.875%, due 2/15/25 | 250,000 | 256,875 | ||||||||
Nielsen Co. Luxembourg SARL (The) | ||||||||||
5.000%, due 2/1/25‡ | 170,000 | 167,238 | ||||||||
5.500%, due 10/1/21‡ | 250,000 | 253,438 | ||||||||
Outfront Media Capital LLC / Outfront Media Capital Corp. | ||||||||||
5.250%, due 2/15/22 | 180,000 | 182,700 | ||||||||
5.625%, due 2/15/24 | 135,000 | 136,350 | ||||||||
5.875%, due 3/15/25 | 75,000 | 76,500 |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
April 30, 2018
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Media (continued) | ||||||||||
Sirius XM Radio, Inc. | ||||||||||
3.875%, due 8/1/22‡ | $ | 200,000 | $ | 194,250 | ||||||
4.625%, due 5/15/23‡ | 110,000 | 108,488 | ||||||||
5.000%, due 8/1/27‡ | 475,000 | 452,438 | ||||||||
5.375%, due 4/15/25‡ | 375,000 | 373,125 | ||||||||
5.375%, due 7/15/26‡ | 225,000 | 220,500 | ||||||||
6.000%, due 7/15/24‡ | 510,000 | 524,663 | ||||||||
TEGNA, Inc. | ||||||||||
5.125%, due 7/15/20 | 175,000 | 177,187 | ||||||||
6.375%, due 10/15/23 | 175,000 | 181,125 | ||||||||
Tribune Media Co. | ||||||||||
5.875%, due 7/15/22 | 300,000 | 304,875 | ||||||||
10,088,763 | ||||||||||
Real Estate — 1.0% | ||||||||||
Howard Hughes Corp. (The) | ||||||||||
5.375%, due 3/15/25‡ | 300,000 | 299,054 | ||||||||
Realogy Group LLC / Realogy Co-Issuer Corp. | ||||||||||
4.500%, due 4/15/19‡ | 75,000 | 75,750 | ||||||||
5.250%, due 12/1/21‡ | 160,000 | 162,400 | ||||||||
Starwood Property Trust, Inc. | ||||||||||
3.625%, due 2/1/21‡ | 125,000 | 122,969 | ||||||||
4.750%, due 3/15/25‡ | 125,000 | 120,625 | ||||||||
5.000%, due 12/15/21 | 225,000 | 227,812 | ||||||||
1,008,610 | ||||||||||
Telecommunication Services — 8.3% | ||||||||||
CyrusOne LP / CyrusOne Finance Corp. | ||||||||||
5.000%, due 3/15/24 | 300,000 | 300,750 | ||||||||
5.375%, due 3/15/27 | 125,000 | 125,000 | ||||||||
Equinix, Inc. | ||||||||||
5.375%, due 1/1/22 | 250,000 | 258,125 | ||||||||
5.375%, due 4/1/23 | 250,000 | 256,875 | ||||||||
5.375%, due 5/15/27 | 415,000 | 422,262 | ||||||||
5.750%, due 1/1/25 | 80,000 | 83,200 | ||||||||
5.875%, due 1/15/26 | 265,000 | 274,937 | ||||||||
Hughes Satellite Systems Corp. | ||||||||||
5.250%, due 8/1/26 | 225,000 | 219,937 | ||||||||
Level 3 Financing, Inc. | ||||||||||
5.125%, due 5/1/23 | 210,000 | 207,900 | ||||||||
5.375%, due 8/15/22 | 100,000 | 100,500 | ||||||||
5.625%, due 2/1/23 | 300,000 | 304,125 | ||||||||
SBA Communications Corp. | ||||||||||
4.000%, due 10/1/22‡ | 250,000 | 238,125 | ||||||||
4.875%, due 7/15/22 | 195,000 | 195,487 | ||||||||
4.875%, due 9/1/24 | 285,000 | 273,600 | ||||||||
Sprint Capital Corp. | ||||||||||
6.900%, due 5/1/19 | 560,000 | 575,400 | ||||||||
Sprint Communications, Inc. | ||||||||||
7.000%, due 3/1/20‡ | 290,000 | 305,950 | ||||||||
7.000%, due 8/15/20 | 400,000 | 422,000 | ||||||||
T-Mobile USA, Inc. | ||||||||||
4.000%, due 4/15/22 | 325,000 | 324,188 | ||||||||
4.500%, due 2/1/26 | 250,000 | 240,625 | ||||||||
4.750%, due 2/1/28 | 375,000 | 360,938 | ||||||||
5.125%, due 4/15/25 | 100,000 | 100,500 | ||||||||
5.375%, due 4/15/27 | 350,000 | 353,063 | ||||||||
6.000%, due 3/1/23 | 300,000 | 311,250 | ||||||||
6.000%, due 4/15/24 | 500,000 | 523,750 | ||||||||
6.375%, due 3/1/25 | 290,000 | 303,050 | ||||||||
Shares | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Telecommunication Services (continued) | ||||||||||
T-Mobile USA, Inc. (continued) | ||||||||||
6.500%, due 1/15/24 | $ | 250,000 | $ | 261,875 | ||||||
6.500%, due 1/15/26 | 375,000 | 398,438 | ||||||||
Zayo Group LLC / Zayo Capital, Inc. | ||||||||||
5.750%, due 1/15/27‡ | 475,000 | 470,250 | ||||||||
6.000%, due 4/1/23 | 365,000 | 375,494 | ||||||||
6.375%, due 5/15/25 | 295,000 | 305,325 | ||||||||
8,892,919 | ||||||||||
Transportation — 0.5% | ||||||||||
American Airlines Group, Inc. | ||||||||||
4.625%, due 3/1/20‡ | 200,000 | 201,241 | ||||||||
5.500%, due 10/1/19‡ | 210,000 | 214,465 | ||||||||
XPO Logistics, Inc. | ||||||||||
6.125%, due 9/1/23‡ | 150,000 | 155,062 | ||||||||
570,768 | ||||||||||
Utilities — 3.5% | ||||||||||
AES Corp. | ||||||||||
4.500%, due 3/15/23 | 200,000 | 201,000 | ||||||||
4.875%, due 5/15/23 | 265,000 | 266,656 | ||||||||
5.125%, due 9/1/27 | 100,000 | 101,250 | ||||||||
5.500%, due 4/15/25 | 129,000 | 132,225 | ||||||||
6.000%, due 5/15/26 | 200,000 | 209,000 | ||||||||
Calpine Corp. | ||||||||||
5.875%, due 1/15/24‡ | 200,000 | 200,750 | ||||||||
6.000%, due 1/15/22‡ | 200,000 | 204,500 | ||||||||
NextEra Energy Operating Partners LP | ||||||||||
4.250%, due 9/15/24‡ | 150,000 | 144,750 | ||||||||
4.500%, due 9/15/27‡ | 150,000 | 140,250 | ||||||||
NRG Energy, Inc. | ||||||||||
5.750%, due 1/15/28‡ | 200,000 | 197,500 | ||||||||
6.250%, due 7/15/22 | 400,000 | 411,000 | ||||||||
6.250%, due 5/1/24 | 200,000 | 206,750 | ||||||||
TerraForm Power Operating LLC | ||||||||||
4.250%, due 1/31/23‡ | 125,000 | 119,375 | ||||||||
5.000%, due 1/31/28‡ | 225,000 | 210,375 | ||||||||
Vistra Energy Corp. | ||||||||||
5.875%, due 6/1/23 | 125,000 | 127,812 | ||||||||
7.625%, due 11/1/24 | 350,000 | 376,250 | ||||||||
8.000%, due 1/15/25‡ | 200,000 | 216,750 | ||||||||
8.125%, due 1/30/26‡ | 275,000 | 301,813 | ||||||||
3,768,006 | ||||||||||
Total Corporate Bonds | ||||||||||
(Cost 95,717,885) | 93,309,750 | |||||||||
Foreign Bonds — 10.2% | ||||||||||
Consumer Discretionary — 2.9% | ||||||||||
1011778 BC ULC / New Red Finance, Inc., (Canada) | ||||||||||
4.250%, due 5/15/24‡ | 445,000 | 424,975 | ||||||||
4.625%, due 1/15/22‡ | 379,000 | 379,948 | ||||||||
5.000%, due 10/15/25‡ | 800,000 | 772,000 | ||||||||
Fiat Chrysler Automobiles NV, (United Kingdom) | ||||||||||
4.500%, due 4/15/20 | 400,000 | 405,000 | ||||||||
5.250%, due 4/15/23 | 475,000 | 493,406 |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
April 30, 2018
Principal Amount | Value | |||||||||
Foreign Bonds (continued) | ||||||||||
Consumer Discretionary (continued) | ||||||||||
Jaguar Land Rover Automotive PLC, (United Kingdom) | ||||||||||
3.500%, due 3/15/20‡ | $ | 75,000 | $ | 74,531 | ||||||
4.125%, due 12/15/18‡ | 335,000 | 336,675 | ||||||||
4.250%, due 11/15/19‡ | 65,000 | 65,325 | ||||||||
4.500%, due 10/1/27‡ | 150,000 | 135,563 | ||||||||
3,087,423 | ||||||||||
Industrials — 0.7% | ||||||||||
Ashtead Capital, Inc., (United Kingdom) | ||||||||||
4.125%, due 8/15/25‡ | 475,000 | 448,875 | ||||||||
Brookfield Residential Properties, Inc. / Brookfield Residential US Corp., (Canada) | ||||||||||
6.125%, due 7/1/22‡ | 125,000 | 127,187 | ||||||||
CNH Industrial NV, (United Kingdom) | ||||||||||
4.500%, due 8/15/23 | 100,000 | 101,625 | ||||||||
Series MTN, 3.850%, due 11/15/27 | 150,000 | 143,250 | ||||||||
820,937 | ||||||||||
Information Technology — 0.9% | ||||||||||
Nokia OYJ, (Finland) | ||||||||||
3.375%, due 6/12/22 | 75,000 | 72,562 | ||||||||
4.375%, due 6/12/27 | 150,000 | 139,151 | ||||||||
5.375%, due 5/15/19 | 28,000 | 28,595 | ||||||||
Open Text Corp., (Canada) | ||||||||||
5.625%, due 1/15/23‡ | 200,000 | 207,750 | ||||||||
5.875%, due 6/1/26‡ | 265,000 | 274,938 | ||||||||
Telefonaktiebolaget LM Ericsson, (Sweden) | ||||||||||
4.125%, due 5/15/22 | 250,000 | 247,626 | ||||||||
970,622 | ||||||||||
Materials — 3.3% | ||||||||||
ArcelorMittal, (Luxembourg) | ||||||||||
6.125%, due 6/1/25 | 105,000 | 113,662 | ||||||||
7.250%, due 10/15/39 | 325,000 | 383,906 | ||||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc., (Ireland) | ||||||||||
4.250%, due 9/15/22‡ | 200,000 | 198,750 | ||||||||
4.625%, due 5/15/23‡ | 280,000 | 280,700 | ||||||||
6.000%, due 2/15/25‡ | 500,000 | 506,250 | ||||||||
7.250%, due 5/15/24‡ | 450,000 | 475,875 | ||||||||
FMG Resources August 2006 Pty Ltd., (Australia) | ||||||||||
4.750%, due 5/15/22‡ | 175,000 | 173,687 | ||||||||
5.125%, due 3/15/23‡ | 150,000 | 149,743 | ||||||||
5.125%, due 5/15/24‡ | 260,000 | 257,075 | ||||||||
NOVA Chemicals Corp., (Canada) | ||||||||||
4.875%, due 6/1/24‡ | 50,000 | 48,313 | ||||||||
5.000%, due 5/1/25‡ | 125,000 | 120,469 | ||||||||
5.250%, due 8/1/23‡ | 105,000 | 105,262 | ||||||||
5.250%, due 6/1/27‡ | 550,000 | 528,000 | ||||||||
Teck Resources Ltd., (Canada) | ||||||||||
8.500%, due 6/1/24‡ | 175,000 | 194,688 | ||||||||
3,536,380 | ||||||||||
Shares | Value | |||||||||
Foreign Bonds (continued) | ||||||||||
Media — 0.8% | ||||||||||
Telenet Finance Luxembourg Notes SARL, (Belgium) | ||||||||||
5.500%, due 3/1/28‡ | $ | 400,000 | $ | 380,000 | ||||||
Videotron Ltd., (Canada) | ||||||||||
5.125%, due 4/15/27‡ | 175,000 | 171,500 | ||||||||
5.375%, due 6/15/24‡ | 160,000 | 164,400 | ||||||||
Virgin Media Secured Finance PLC, (United Kingdom) | ||||||||||
5.250%, due 1/15/26‡ | 60,000 | 57,075 | ||||||||
5.500%, due 1/15/25‡ | 60,000 | 58,800 | ||||||||
831,775 | ||||||||||
Telecommunication Services — 1.6% | ||||||||||
Millicom International Cellular SA, (Colombia) | ||||||||||
5.125%, due 1/15/28‡ | 150,000 | 141,375 | ||||||||
6.000%, due 3/15/25‡ | 125,000 | 128,750 | ||||||||
Telecom Italia Capital SA, (Italy) | ||||||||||
6.000%, due 9/30/34 | 260,000 | 270,075 | ||||||||
7.200%, due 7/18/36 | 275,000 | 315,906 | ||||||||
7.721%, due 6/4/38 | 325,000 | 391,219 | ||||||||
Telecom Italia SpA, (Italy) | ||||||||||
5.303%, due 5/30/24‡ | 465,000 | 473,138 | ||||||||
1,720,463 | ||||||||||
Total Foreign Bonds | ||||||||||
(Cost 11,242,705) | 10,967,600 | |||||||||
Short-Term Investment — 1.4% | ||||||||||
Money Market Fund — 1.4% | Shares | |||||||||
BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 1.57%(a) | ||||||||||
(Cost 1,521,327) | 1,521,327 | 1,521,327 | ||||||||
Total Investments — 98.7% | ||||||||||
(Cost 108,481,917) | 105,798,677 | |||||||||
Other Assets and Liabilities, Net — 1.3% | 1,393,789 | |||||||||
Net Assets — 100.0% | $ | 107,192,466 |
‡ | May be sold to institutional investors only under Rule 144A or securities offered pursuant to section 4 (a) (2) of the Securities Act of 1933, as amended. |
(a) | Reflects the 1-day yield at April 30, 2018. |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
April 30, 2018
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(b) | ||||||||||||||||||
Corporate Bonds | $ | — | $ | 93,309,750 | $ | — | $ | 93,309,750 | ||||||||||
Foreign Bonds | — | 10,967,600 | — | 10,967,600 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 1,521,327 | — | — | 1,521,327 | ||||||||||||||
Total Investments in Securities | $ | 1,521,327 | $ | 104,277,350 | $ | — | $ | 105,798,677 |
(b) | For a complete listing of investments and their industries, see the Schedules of Investments. |
See notes to financial statements.
Schedules of Investments — IQ Chaikin U.S. Small Cap ETF
April 30, 2018
Shares | Value | |||||||||
Common Stocks — 100.0% | ||||||||||
Basic Materials — 7.1% | ||||||||||
AdvanSix, Inc.* | 61,604 | $ | 2,206,655 | |||||||
Clearwater Paper Corp.* | 54,798 | 1,295,973 | ||||||||
Commercial Metals Co. | 104,721 | 2,200,188 | ||||||||
Encore Wire Corp. | 37,788 | 1,989,538 | ||||||||
Global Brass & Copper Holdings, Inc. | 64,054 | 1,921,620 | ||||||||
Koppers Holdings, Inc.* | 52,131 | 2,283,338 | ||||||||
Kraton Corp.* | 44,909 | 2,050,994 | ||||||||
Lydall, Inc.* | 44,406 | 1,980,508 | ||||||||
Mueller Industries, Inc. | 81,903 | 2,226,123 | ||||||||
Nexeo Solutions, Inc.* | 200,242 | 2,040,466 | ||||||||
Peabody Energy Corp. | 58,701 | 2,163,132 | ||||||||
Renewable Energy Group, Inc.*(a) | 167,390 | 2,159,331 | ||||||||
Stepan Co. | 25,758 | 1,811,303 | ||||||||
SunCoke Energy, Inc.* | 199,125 | 2,287,946 | ||||||||
Trinseo SA | 28,934 | 2,110,735 | ||||||||
Universal Forest Products, Inc. | 66,027 | 2,104,941 | ||||||||
Total Basic Materials | 32,832,791 | |||||||||
Consumer Goods — 9.4% | ||||||||||
ACCO Brands Corp. | 170,724 | 2,057,224 | ||||||||
AV Homes, Inc.*(a) | 115,504 | 1,923,142 | ||||||||
Avon Products, Inc.* | 754,433 | 1,908,715 | ||||||||
Beazer Homes USA, Inc.* | 134,332 | 1,971,994 | ||||||||
Caleres, Inc. | 63,768 | 2,087,127 | ||||||||
Fossil Group, Inc.*(a) | 168,708 | 2,522,185 | ||||||||
HNI Corp. | 59,368 | 1,982,298 | ||||||||
M/I Homes, Inc.* | 67,271 | 2,050,420 | ||||||||
MDC Holdings, Inc. | 76,740 | 2,226,227 | ||||||||
Meritage Homes Corp.* | 47,350 | 2,107,075 | ||||||||
Perry Ellis International, Inc.* | 83,046 | 2,155,044 | ||||||||
REV Group, Inc. | 103,208 | 1,862,904 | ||||||||
SpartanNash Co. | 124,497 | 2,263,355 | ||||||||
Stoneridge, Inc.* | 77,630 | 2,043,998 | ||||||||
Taylor Morrison Home Corp., Class A* | 92,036 | 2,186,775 | ||||||||
Tenneco, Inc. | 39,048 | 1,745,055 | ||||||||
Tower International, Inc. | 77,210 | 2,277,695 | ||||||||
Unifi, Inc.* | 59,106 | 1,750,129 | ||||||||
Vista Outdoor, Inc.* | 131,286 | 2,199,040 | ||||||||
William Lyon Homes, Class A* | 77,941 | 2,093,495 | ||||||||
Winnebago Industries, Inc.(a) | 56,984 | 2,159,694 | ||||||||
Total Consumer Goods | 43,573,591 | |||||||||
Consumer Services — 10.5% | ||||||||||
Asbury Automotive Group, Inc.* | 31,742 | 2,128,301 | ||||||||
Barnes & Noble Education, Inc.* | 310,971 | 2,235,881 | ||||||||
Bloomin’ Brands, Inc. | 88,245 | 2,087,877 | ||||||||
Bojangles’, Inc.*(a) | 154,700 | 2,281,825 | ||||||||
Brinker International, Inc. | 59,352 | 2,587,154 | ||||||||
Career Education Corp.* | 163,059 | 2,114,875 | ||||||||
Chico’s FAS, Inc. | 237,012 | 2,353,529 | ||||||||
Citi Trends, Inc. | 69,317 | 2,123,180 | ||||||||
Del Frisco’s Restaurant Group, Inc.* | 140,498 | 2,233,918 | ||||||||
Finish Line, Inc. (The), Class A | 158,242 | 2,147,344 | ||||||||
Group 1 Automotive, Inc.(a) | 32,791 | 2,142,892 | ||||||||
Hawaiian Holdings, Inc. | 55,364 | 2,280,997 | ||||||||
J. Jill, Inc.* | 484,749 | 2,477,067 | ||||||||
Liberty Expedia Holdings, Inc., Class A* | 54,547 | 2,225,518 | ||||||||
Liberty TripAdvisor Holdings, Inc., Class A* | 199,311 | 1,833,661 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Consumer Services (continued) | ||||||||||
Lithia Motors, Inc., Class A | 21,315 | $ | 2,043,256 | |||||||
Marcus Corp. (The) | 70,596 | 2,103,761 | ||||||||
New Media Investment Group, Inc. | 125,005 | 2,072,583 | ||||||||
Office Depot, Inc. | 996,554 | 2,282,109 | ||||||||
Penn National Gaming, Inc.* | 81,591 | 2,473,023 | ||||||||
Regis Corp.* | 141,612 | 2,211,979 | ||||||||
Sally Beauty Holdings, Inc.*(a) | 130,249 | 2,252,005 | ||||||||
Total Consumer Services | 48,692,735 | |||||||||
Financials — 27.2% | ||||||||||
Access National Corp. | 75,100 | 2,088,531 | ||||||||
American Equity Investment Life Holding Co. | 72,977 | 2,203,905 | ||||||||
American National Insurance Co. | 18,319 | 2,210,554 | ||||||||
Ashford Hospitality Trust, Inc. | 331,670 | 2,281,889 | ||||||||
Avis Budget Group, Inc.* | 45,743 | 2,260,162 | ||||||||
Bancorp, Inc. (The)* | 198,388 | 2,053,316 | ||||||||
BancorpSouth Bank | 67,377 | 2,226,810 | ||||||||
Banner Corp. | 38,612 | 2,216,329 | ||||||||
Berkshire Hills Bancorp, Inc. | 56,458 | 2,142,581 | ||||||||
BGC Partners, Inc., Class A | 159,300 | 2,128,248 | ||||||||
Camden National Corp. | 48,148 | 2,133,438 | ||||||||
CenterState Bank Corp. | 80,761 | 2,340,454 | ||||||||
Community Trust Bancorp, Inc. | 47,402 | 2,275,296 | ||||||||
Customers Bancorp, Inc.* | 73,502 | 2,118,328 | ||||||||
Employers Holdings, Inc. | 52,969 | 2,166,432 | ||||||||
ePlus, Inc.* | 27,575 | 2,201,864 | ||||||||
Evercore, Inc., Class A | 24,571 | 2,487,814 | ||||||||
FBL Financial Group, Inc., Class A | 30,895 | 2,402,086 | ||||||||
Federated Investors, Inc., Class B | 64,149 | 1,698,024 | ||||||||
Fidelity Southern Corp. | 92,873 | 2,111,003 | ||||||||
First BanCorp* | 355,912 | 2,569,685 | ||||||||
First Busey Corp. | 72,093 | 2,137,557 | ||||||||
First Defiance Financial Corp. | 37,379 | 2,230,031 | ||||||||
First Foundation, Inc.* | 115,566 | 2,067,476 | ||||||||
First Interstate BancSystem, Inc., Class A | 54,174 | 2,194,047 | ||||||||
FirstCash, Inc. | 26,370 | 2,286,279 | ||||||||
Great Southern Bancorp, Inc. | 42,895 | 2,267,001 | ||||||||
Great Western Bancorp, Inc. | 53,206 | 2,188,895 | ||||||||
Greenlight Capital Re Ltd., Class A* | 133,495 | 2,069,172 | ||||||||
Hanmi Financial Corp. | 69,678 | 1,923,113 | ||||||||
Health Insurance Innovations, Inc., Class A* | 74,138 | 2,112,933 | ||||||||
Heartland Financial USA, Inc. | 40,388 | 2,166,816 | ||||||||
Hilltop Holdings, Inc. | 91,330 | 2,047,619 | ||||||||
Hope Bancorp, Inc. | 117,789 | 2,036,572 | ||||||||
Horace Mann Educators Corp. | 50,119 | 2,240,319 | ||||||||
Houlihan Lokey, Inc. | 48,040 | 2,137,780 | ||||||||
Kemper Corp.(a) | 37,589 | 2,537,257 | ||||||||
Maiden Holdings Ltd.(a) | 329,629 | 2,521,662 | ||||||||
Meta Financial Group, Inc.(a) | 19,621 | 2,180,874 | ||||||||
MidWestOne Financial Group, Inc. | 64,361 | 2,076,929 | ||||||||
National General Holdings Corp. | 88,136 | 2,271,265 | ||||||||
Opus Bank | 76,521 | 2,157,892 | ||||||||
Peapack Gladstone Financial Corp. | 64,169 | 2,120,144 | ||||||||
PennyMac Financial Services, Inc., Class A* | 94,596 | 1,948,678 | ||||||||
Peoples Bancorp, Inc. | 60,440 | 2,167,378 | ||||||||
Piper Jaffray Cos. | 25,799 | 1,807,220 | ||||||||
QCR Holdings, Inc. | 47,772 | 2,161,683 | ||||||||
Renasant Corp. | 50,343 | 2,277,014 |
See notes to financial statements.
Schedules of Investments — IQ Chaikin U.S. Small Cap ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Financials (continued) | ||||||||||
RMR Group, Inc. (The), Class A | 30,630 | $ | 2,278,872 | |||||||
Selective Insurance Group, Inc. | 35,298 | 2,089,642 | ||||||||
State Bank Financial Corp. | 71,396 | 2,249,688 | ||||||||
TCF Financial Corp. | 93,932 | 2,332,331 | ||||||||
Towne Bank/Portsmouth VA | 74,916 | 2,239,988 | ||||||||
TriState Capital Holdings, Inc.* | 92,154 | 2,303,850 | ||||||||
United Fire Group, Inc. | 44,768 | 2,251,383 | ||||||||
United Insurance Holdings Corp. | 111,943 | 2,111,245 | ||||||||
Universal Insurance Holdings, Inc. | 67,166 | 2,179,537 | ||||||||
Walker & Dunlop, Inc. | 36,058 | 2,059,272 | ||||||||
Total Financials | 126,746,163 | |||||||||
Health Care — 3.8% | ||||||||||
Aceto Corp. | 281,920 | 710,439 | ||||||||
Analogic Corp. | 22,342 | 1,856,620 | ||||||||
BioTime, Inc.*(a) | 796,502 | 1,720,444 | ||||||||
Enanta Pharmaceuticals, Inc.* | 26,481 | 2,464,057 | ||||||||
Lantheus Holdings, Inc.* | 134,754 | 2,398,621 | ||||||||
LifePoint Health, Inc.*(a) | 45,587 | 2,183,617 | ||||||||
Magellan Health, Inc.* | 20,006 | 1,677,503 | ||||||||
Syneos Health, Inc.*(a) | 60,355 | 2,299,526 | ||||||||
Triple-S Management Corp., Class B* | 81,966 | 2,323,736 | ||||||||
Total Health Care | 17,634,563 | |||||||||
Industrials — 31.0% | ||||||||||
AAR Corp. | 48,574 | 2,103,254 | ||||||||
ABM Industries, Inc. | 63,996 | 1,992,195 | ||||||||
Anixter International, Inc.* | 28,285 | 1,665,986 | ||||||||
ArcBest Corp. | 66,851 | 2,145,917 | ||||||||
Argan, Inc. | 49,886 | 1,995,440 | ||||||||
ASGN, Inc.* | 26,167 | 2,109,845 | ||||||||
Atkore International Group, Inc.* | 107,939 | 1,918,076 | ||||||||
Atlas Air Worldwide Holdings, Inc.* | 35,444 | 2,247,150 | ||||||||
Barrett Business Services, Inc. | 25,852 | 2,262,567 | ||||||||
Beacon Roofing Supply, Inc.* | 40,373 | 1,976,258 | ||||||||
Benchmark Electronics, Inc. | 71,779 | 1,887,788 | ||||||||
Blue Bird Corp.* | 90,405 | 2,147,119 | ||||||||
Builders FirstSource, Inc.* | 107,993 | 1,968,712 | ||||||||
CBIZ, Inc.* | 117,402 | 2,183,677 | ||||||||
Convergys Corp. | 94,721 | 2,212,683 | ||||||||
Covenant Transportation Group, Inc., Class A* | 71,827 | 1,993,199 | ||||||||
CRA International, Inc. | 40,975 | 2,313,858 | ||||||||
Donnelley Financial Solutions, Inc.*(a) | 124,787 | 2,296,081 | ||||||||
Ducommun, Inc.* | 70,526 | 2,051,601 | ||||||||
Engility Holdings, Inc.* | 87,811 | 2,232,156 | ||||||||
Essendant, Inc. | 274,691 | 2,043,701 | ||||||||
Forward Air Corp. | 40,533 | 2,188,377 | ||||||||
Foundation Building Materials, Inc.* | 143,702 | 2,019,013 | ||||||||
FTI Consulting, Inc.* | 44,259 | 2,584,726 | ||||||||
GMS, Inc.* | 70,111 | 2,184,659 | ||||||||
GP Strategies Corp.* | 94,596 | 1,972,327 | ||||||||
Griffon Corp. | 117,402 | 2,336,300 | ||||||||
Hawkins, Inc. | 60,956 | 1,981,070 | ||||||||
Heidrick & Struggles International, Inc. | 68,563 | 2,581,397 | ||||||||
Heritage-Crystal Clean, Inc.* | 90,980 | 1,924,227 | ||||||||
Hub Group, Inc., Class A* | 51,197 | 2,250,108 | ||||||||
Hyster-Yale Materials Handling, Inc. | 30,639 | 2,181,497 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Industrials (continued) | ||||||||||
ICF International, Inc. | 36,657 | $ | 2,459,685 | |||||||
Integer Holdings Corp.* | 37,888 | 2,080,051 | ||||||||
Kelly Services, Inc., Class A | 73,781 | 2,158,832 | ||||||||
Kforce, Inc. | 79,209 | 2,102,999 | ||||||||
Korn/Ferry International | 41,531 | 2,220,247 | ||||||||
LSC Communications, Inc. | 122,785 | 2,146,282 | ||||||||
ManTech International Corp./VA, Class A | 38,626 | 2,282,410 | ||||||||
NCI Building Systems, Inc.* | 121,050 | 2,118,375 | ||||||||
Patrick Industries, Inc.* | 34,642 | 1,971,130 | ||||||||
Perficient, Inc.* | 93,481 | 2,311,785 | ||||||||
Primoris Services Corp. | 85,772 | 2,194,905 | ||||||||
Providence Service Corp. (The)* | 30,989 | 2,351,445 | ||||||||
Quad/Graphics, Inc. | 84,520 | 2,088,489 | ||||||||
Quanex Building Products Corp. | 123,137 | 2,111,800 | ||||||||
Resources Connection, Inc. | 132,259 | 2,069,853 | ||||||||
RPX Corp. | 200,429 | 2,170,646 | ||||||||
Rush Enterprises, Inc., Class A* | 50,426 | 2,058,894 | ||||||||
Saia, Inc.* | 28,511 | 1,883,152 | ||||||||
SP Plus Corp.* | 60,185 | 2,115,503 | ||||||||
Spartan Motors, Inc. | 124,569 | 2,223,557 | ||||||||
SPX Corp.* | 65,966 | 2,087,164 | ||||||||
SPX FLOW, Inc.* | 43,557 | 1,960,065 | ||||||||
Sykes Enterprises, Inc.* | 74,036 | 2,129,275 | ||||||||
Tredegar Corp. | 119,364 | 2,100,806 | ||||||||
TrueBlue, Inc.* | 82,725 | 2,204,621 | ||||||||
TTM Technologies, Inc.* | 140,130 | 1,953,412 | ||||||||
US Concrete, Inc.*(a) | 35,473 | 2,073,397 | ||||||||
Vectrus, Inc.* | 57,535 | 2,071,260 | ||||||||
Veritiv Corp.*(a) | 54,658 | 2,079,737 | ||||||||
Viad Corp. | 40,850 | 2,073,138 | ||||||||
VSE Corp. | 41,427 | 2,124,791 | ||||||||
Wabash National Corp. | 102,960 | 2,065,378 | ||||||||
Wesco Aircraft Holdings, Inc.* | 209,033 | 2,111,233 | ||||||||
WESCO International, Inc.* | 34,530 | 2,056,262 | ||||||||
World Fuel Services Corp. | 87,275 | 1,873,794 | ||||||||
YRC Worldwide, Inc.* | 242,649 | 2,018,840 | ||||||||
Total Industrials | 144,054,177 | |||||||||
Oil & Gas — 2.0% | ||||||||||
C&J Energy Services, Inc.*(a) | 82,982 | 2,477,842 | ||||||||
Exterran Corp.* | 80,247 | 2,350,435 | ||||||||
PBF Energy, Inc., Class A | 63,203 | 2,422,571 | ||||||||
TETRA Technologies, Inc.* | 571,357 | 2,245,433 | ||||||||
Total Oil & Gas | 9,496,281 | |||||||||
Technology — 8.1% | ||||||||||
Advanced Energy Industries, Inc.* | 33,530 | 1,996,711 | ||||||||
Alpha & Omega Semiconductor Ltd.* | 138,679 | 2,102,374 | ||||||||
Amkor Technology, Inc.* | 211,509 | 1,751,295 | ||||||||
CACI International, Inc., Class A* | 14,157 | 2,138,415 | ||||||||
FormFactor, Inc.* | 156,966 | 1,801,185 | ||||||||
HealthStream, Inc. | 86,290 | 2,001,065 | ||||||||
Imperva, Inc.* | 49,482 | 2,214,319 | ||||||||
Insight Enterprises, Inc.* | 61,340 | 2,174,503 | ||||||||
MicroStrategy, Inc., Class A* | 16,611 | 2,117,238 | ||||||||
MobileIron, Inc.* | 432,847 | 2,012,739 | ||||||||
Presidio, Inc.*(a) | 136,994 | 2,098,748 | ||||||||
ScanSource, Inc.* | 60,270 | 2,067,261 | ||||||||
Super Micro Computer, Inc.* | 126,035 | 2,230,819 | ||||||||
Ultra Clean Holdings, Inc.*(a) | 111,303 | 1,948,916 |
See notes to financial statements.
Schedules of Investments — IQ Chaikin U.S. Small Cap ETF (continued)
April 30, 2018
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Technology (continued) | ||||||||||
Unisys Corp.*(a) | 199,311 | $ | 2,232,283 | |||||||
VASCO Data Security International, Inc.* | 165,451 | 2,564,490 | ||||||||
Verint Systems, Inc.* | 50,296 | 2,117,462 | ||||||||
Zynga, Inc., Class A* | 585,407 | 2,019,654 | ||||||||
Total Technology | 37,589,477 | |||||||||
Telecommunications — 0.4% | ||||||||||
Telephone & Data Systems, Inc. | 76,439 | 2,089,078 | ||||||||
Utilities — 0.5% | ||||||||||
SJW Group | 40,649 | 2,457,232 | ||||||||
Total Common Stocks | ||||||||||
(Cost 461,645,173) | 465,166,088 | |||||||||
Short-Term Investment — 0.0%(b) | ||||||||||
Money Market Fund — 0.0%(b) | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 1.58%(c) | ||||||||||
(Cost 213,988) | 213,988 | 213,988 | ||||||||
Shares | Value | |||||||||
Investment of Cash Collateral For Securities Loaned — 0.9% | ||||||||||
Money Market Fund — 0.9% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 1.61%(c) | ||||||||||
(Cost 4,391,432) | 4,391,432 | $ | 4,391,432 | |||||||
Total Investments — 100.9% | ||||||||||
(Cost 466,250,593) | 469,771,508 | |||||||||
Other Assets and Liabilities, Net — (0.9)% | (4,424,942 | ) | ||||||||
Net Assets — 100.0% | S465,346,566 |
* | 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 $20,440,510; total market value of collateral held by the Fund was $21,053,266. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $16,661,834. |
(b) | Less than 0.05%. |
(c) | Reflects the 1-day yield at April 30, 2018. |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(d) | ||||||||||||||||||
Common Stocks | $ | 465,166,088 | $ | — | $ | — | $ | 465,166,088 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 213,988 | — | — | 213,988 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 4,391,432 | — | — | 4,391,432 | ||||||||||||||
Total Investments in Securities | $ | 469,771,508 | $ | — | $ | — | $ | 469,771,508 |
(d) | For a complete listing of investments and their industries, see the Schedules of Investments. |
See notes to financial statements.
Schedules of Investments — IQ Chaikin U.S. Large Cap ETF
April 30, 2018
Shares | Value | |||||||||
Common Stocks — 100.0% | ||||||||||
Basic Materials — 1.5% | ||||||||||
LyondellBasell Industries NV, Class A | 45,646 | $ | 4,826,152 | |||||||
Consumer Goods — 7.3% | ||||||||||
Altria Group, Inc. | 78,313 | 4,394,142 | ||||||||
Archer-Daniels-Midland Co. | 110,899 | 5,032,597 | ||||||||
Ford Motor Co. | 439,012 | 4,934,495 | ||||||||
Molson Coors Brewing Co., Class B | 64,048 | 4,562,779 | ||||||||
Stanley Black & Decker, Inc. | 31,191 | 4,416,334 | ||||||||
Total Consumer Goods | 23,340,347 | |||||||||
Consumer Services — 4.7% | ||||||||||
AmerisourceBergen Corp. | 56,602 | 5,127,009 | ||||||||
Booking Holdings, Inc.* | 2,288 | 4,983,264 | ||||||||
Ross Stores, Inc. | 61,805 | 4,996,934 | ||||||||
Total Consumer Services | 15,107,207 | |||||||||
Financials — 40.7% | ||||||||||
Aflac, Inc. | 109,346 | 4,982,897 | ||||||||
Allstate Corp. (The) | 50,906 | 4,979,625 | ||||||||
American International Group, Inc. | 88,397 | 4,950,232 | ||||||||
Ameriprise Financial, Inc. | 32,285 | 4,526,680 | ||||||||
Bank of America Corp. | 161,070 | 4,819,214 | ||||||||
Bank of New York Mellon Corp. (The) | 93,751 | 5,110,367 | ||||||||
Berkshire Hathaway, Inc., Class B* | 24,244 | 4,696,790 | ||||||||
Capital One Financial Corp. | 50,792 | 4,602,771 | ||||||||
Chubb Ltd. | 34,771 | 4,717,382 | ||||||||
Citigroup, Inc. | 69,628 | 4,753,504 | ||||||||
Citizens Financial Group, Inc. | 114,323 | 4,743,261 | ||||||||
Goldman Sachs Group, Inc. (The) | 19,229 | 4,582,848 | ||||||||
Hartford Financial Services Group, Inc. (The) | 93,033 | 5,008,897 | ||||||||
KeyCorp | 246,728 | 4,914,822 | ||||||||
Lincoln National Corp. | 66,069 | 4,667,114 | ||||||||
Loews Corp. | 96,840 | 5,080,226 | ||||||||
MetLife, Inc. | 104,516 | 4,982,278 | ||||||||
Moody’s Corp. | 29,806 | 4,834,533 | ||||||||
Morgan Stanley | 89,465 | 4,618,183 | ||||||||
Northern Trust Corp. | 46,806 | 4,996,540 | ||||||||
Principal Financial Group, Inc. | 80,881 | 4,789,773 | ||||||||
Progressive Corp. (The) | 78,868 | 4,754,952 | ||||||||
Prudential Financial, Inc. | 46,354 | 4,928,357 | ||||||||
Regions Financial Corp. | 259,965 | 4,861,346 | ||||||||
State Street Corp. | 48,048 | 4,794,229 | ||||||||
SunTrust Banks, Inc. | 71,298 | 4,762,706 | ||||||||
Wells Fargo & Co. | 93,050 | 4,834,878 | ||||||||
Total Financials | 130,294,405 | |||||||||
Health Care — 9.3% | ||||||||||
Anthem, Inc. | 21,675 | 5,115,083 | ||||||||
Biogen, Inc.* | 17,934 | 4,906,742 | ||||||||
Cigna Corp. | 28,732 | 4,936,732 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Health Care (continued) | ||||||||||
HCA Healthcare, Inc. | 48,802 | $ | 4,672,304 | |||||||
Laboratory Corp. of America Holdings* | 29,207 | 4,987,095 | ||||||||
Pfizer, Inc. | 135,811 | 4,972,041 | ||||||||
Total Health Care | 29,589,997 | |||||||||
Industrials — 13.4% | ||||||||||
Accenture PLC, Class A | 31,935 | 4,828,572 | ||||||||
Cummins, Inc. | 29,942 | 4,786,528 | ||||||||
FedEx Corp. | 20,261 | 5,008,519 | ||||||||
Fidelity National Information Services, Inc. | 50,228 | 4,770,153 | ||||||||
Fiserv, Inc.* | 67,643 | 4,793,183 | ||||||||
General Dynamics Corp. | 21,507 | 4,329,574 | ||||||||
Ingersoll-Rand PLC | 55,934 | 4,692,304 | ||||||||
Lockheed Martin Corp. | 14,021 | 4,498,498 | ||||||||
Norfolk Southern Corp. | 35,598 | 5,107,245 | ||||||||
Total Industrials | 42,814,576 | |||||||||
Oil & Gas — 8.7% | ||||||||||
Andeavor | 46,831 | 6,477,664 | ||||||||
Chevron Corp. | 41,469 | 5,188,187 | ||||||||
Marathon Petroleum Corp. | 65,242 | 4,887,278 | ||||||||
Phillips 66 | 49,669 | 5,528,656 | ||||||||
Valero Energy Corp. | 51,536 | 5,716,889 | ||||||||
Total Oil & Gas | 27,798,674 | |||||||||
Technology — 9.9% | ||||||||||
Applied Materials, Inc. | 85,761 | 4,259,749 | ||||||||
Cognizant Technology Solutions Corp., Class A | 59,380 | 4,858,472 | ||||||||
DXC Technology Co. | 46,621 | 4,804,760 | ||||||||
Hewlett Packard Enterprise Co. | 270,756 | 4,616,390 | ||||||||
HP, Inc. | 218,394 | 4,693,287 | ||||||||
Lam Research Corp. | �� | 23,471 | 4,343,543 | |||||||
Micron Technology, Inc.* | 90,744 | 4,172,409 | ||||||||
Total Technology | 31,748,610 | |||||||||
Telecommunications — 1.4% | ||||||||||
AT&T, Inc. | 136,245 | 4,455,211 | ||||||||
Utilities — 3.1% | ||||||||||
Exelon Corp. | 123,602 | 4,904,528 | ||||||||
PG&E Corp. | 108,213 | 4,988,619 | ||||||||
Total Utilities | 9,893,147 | |||||||||
Total Investments — 100.0% | ||||||||||
(Cost $317,065,663) | 319,868,326 | |||||||||
Other Assets and Liabilities, Net — 0.0%(a) | 131,753 | |||||||||
Net Assets — 100.0% | $ | 320,000,079 |
* | Non-income producing securities. |
(a) | Less than 0.05% |
See notes to financial statements.
Schedules of Investments — IQ Chaikin U.S. Large Cap ETF (continued)
April 30, 2018
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(b) | ||||||||||||||||||
Common Stocks | $ | 319,868,326 | $ | — | $ | — | $ | 319,868,326 | ||||||||||
Total Investments in Securities | $ | 319,868,326 | $ | — | $ | — | $ | 319,868,326 |
(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) | $ | 1,266,498,691 | $ | 8,496,201 | $ | 14,716,639 | $ | 9,824,590 | $ | 4,161,029 | ||||||||||||
Cash | 8,662 | 84 | 243 | 168 | — | |||||||||||||||||
Due from broker | 989,095 | 9,135 | 8,145 | 10,386 | 1,081 | |||||||||||||||||
Securities lending income receivable | 141,279 | 2,255 | 1,792 | 792 | 809 | |||||||||||||||||
Dividend receivable | 11,949 | 78 | 120 | 13 | 8 | |||||||||||||||||
Total Assets | 1,267,649,676 | 8,507,753 | 14,726,939 | 9,835,949 | 4,162,927 | |||||||||||||||||
Liabilities | ||||||||||||||||||||||
Collateral for investments on loan | 140,959,766 | 1,906,306 | 1,911,647 | 1,040,224 | 1,021,562 | |||||||||||||||||
Due to broker | 1,910,936 | 9,604 | 16,921 | 25,998 | 364 | |||||||||||||||||
Advisory fees payable | 489,063 | 4,062 | 7,900 | 5,417 | 1,937 | |||||||||||||||||
Trustee fees payable | 4,992 | 31 | 57 | 39 | 14 | |||||||||||||||||
Accrued expenses and other liabilities | 6,791 | 91 | 123 | 101 | 74 | |||||||||||||||||
Total Liabilities | 143,371,548 | 1,920,094 | 1,936,648 | 1,071,779 | 1,023,951 | |||||||||||||||||
Net Assets | $ | 1,124,278,128 | $ | 6,587,659 | $ | 12,790,291 | $ | 8,764,170 | $ | 3,138,976 | ||||||||||||
Composition of Net Assets | ||||||||||||||||||||||
Paid-in capital | $ | 1,147,362,529 | $ | 12,437,402 | $ | 13,097,439 | $ | 8,811,166 | $ | 3,097,540 | ||||||||||||
Undistributed (accumulated) net investment income (loss) | 10,278,887 | 24,981 | 2,372 | 80,533 | 45,908 | |||||||||||||||||
Undistributed (accumulated) net realized gain (loss) | (63,824,201 | ) | (6,042,032 | ) | (462,534 | ) | (233,466 | ) | (50,979 | ) | ||||||||||||
Net unrealized appreciation (depreciation) | 30,460,913 | 167,308 | 153,014 | 105,937 | 46,507 | |||||||||||||||||
Net Assets | $ | 1,124,278,128 | $ | 6,587,659 | $ | 12,790,291 | $ | 8,764,170 | $ | 3,138,976 | ||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||||
Shares Outstanding (no par value, unlimited shares authorized) | 37,000,000 | 250,000 | 500,000 | 400,001 | 150,001 | |||||||||||||||||
Net Asset Value Per Share | $ | 30.39 | $ | 26.35 | $ | 25.58 | $ | 21.91 | $ | 20.93 | ||||||||||||
Investments, at cost | $ | 1,236,037,778 | $ | 8,328,893 | $ | 14,563,625 | $ | 9,718,653 | $ | 4,114,522 | ||||||||||||
(a) Market value of securities on loan | $ | 173,134,325 | $ | 2,096,159 | $ | 1,865,262 | $ | 1,017,227 | $ | 1,013,117 |
See notes to financial statements.
Statements of Assets and Liabilities (continued)
April 30, 2018
IQ Global Resources ETF | IQ Merger Arbitrage ETF | IQ Real Return ETF | IQ Global Agribusiness Small Cap ETF | IQ U.S. Real Estate Small Cap ETF | ||||||||||||||||||
Assets | ||||||||||||||||||||||
Investments, at value (including securities on loan)(a) | $ | 242,090,693 | $ | 553,551,788 | $ | 47,398,185 | $ | 12,082,604 | $ | 86,136,151 | ||||||||||||
Cash | — | 632,416 | — | — | — | |||||||||||||||||
Foreign currency(b) | 6,575 | — | — | — | — | |||||||||||||||||
Cash deposited at broker for Swap collateral | 1,150,028 | — | — | — | — | |||||||||||||||||
Dividend receivable | 510,463 | 318,346 | 179 | 56,995 | 161,109 | |||||||||||||||||
Due from broker | 141,096 | 1,468,765 | — | — | — | |||||||||||||||||
Reclaims receivable | 101,035 | 14,252 | — | 290 | — | |||||||||||||||||
Securities lending income receivable | 3,431 | 4,054 | 7,619 | 711 | 3,511 | |||||||||||||||||
Receivable for investments sold | — | 38,836 | — | — | 1,208,888 | |||||||||||||||||
Total Assets | 244,003,321 | 556,028,457 | 47,405,983 | 12,140,600 | 87,509,659 | |||||||||||||||||
Liabilities | ||||||||||||||||||||||
Collateral for investments on loan | 4,839,696 | 26,324,770 | 2,070,277 | 246,668 | 3,865,903 | |||||||||||||||||
Due to broker | 299,134 | 3,980,418 | — | — | — | |||||||||||||||||
Advisory fees payable | 149,620 | 317,192 | 15,763 | 7,278 | 46,984 | |||||||||||||||||
Trustee fees payable | 1,064 | 2,241 | 138 | 56 | 386 | |||||||||||||||||
Cash due to custodian | 38 | — | — | — | — | |||||||||||||||||
Payable for investments purchased | — | — | — | 13,757 | 295,799 | |||||||||||||||||
Payable for capital shares repurchased | — | — | — | — | 1,210,955 | |||||||||||||||||
Foreign currency due to custodian | — | 15,248 | — | — | — | |||||||||||||||||
Accrued expenses and other liabilities | 1,294 | 2,708 | 373 | 116 | 477 | |||||||||||||||||
Total Liabilities | 5,290,846 | 30,642,577 | 2,086,551 | 267,875 | 5,420,504 | |||||||||||||||||
Net Assets | $ | 238,712,475 | $ | 525,385,880 | $ | 45,319,432 | $ | 11,872,725 | $ | 82,089,155 | ||||||||||||
Composition of Net Assets | ||||||||||||||||||||||
Paid-in capital | $ | 275,023,217 | $ | 535,330,288 | $ | 46,735,862 | $ | 18,431,405 | $ | 95,431,644 | ||||||||||||
Undistributed (accumulated) net investment income (loss) | (69,350 | ) | (120,110 | ) | 172,756 | 44,699 | 94,696 | |||||||||||||||
Undistributed (accumulated) net realized gain (loss) | (44,582,270 | ) | (6,960,789 | ) | (1,482,281 | ) | (8,654,189 | ) | (4,029,296 | ) | ||||||||||||
Net unrealized appreciation (depreciation) | 8,340,878 | (2,863,509 | ) | (106,905 | ) | 2,050,810 | (9,407,889 | ) | ||||||||||||||
Net Assets | $ | 238,712,475 | $ | 525,385,880 | $ | 45,319,432 | $ | 11,872,725 | $ | 82,089,155 | ||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||||
Shares Outstanding (no par value, unlimited shares authorized) | 8,600,000 | 17,100,000 | 1,650,000 | 350,000 | 3,400,000 | |||||||||||||||||
Net Asset Value Per Share | $ | 27.76 | $ | 30.72 | $ | 27.47 | $ | 33.92 | $ | 24.14 | ||||||||||||
Investments, at cost | $ | 233,747,804 | $ | 556,404,810 | $ | 47,505,090 | $ | 10,030,378 | $ | 95,544,040 | ||||||||||||
(a) Market value of securities on loan | $ | 20,754,674 | $ | 49,063,687 | $ | 7,265,170 | $ | 740,685 | $ | 22,892,721 | ||||||||||||
(b) Cost of foreign currency | $ | 6,803 | $ | (11,475 | ) | $ | — | $ | — | $ | — |
See notes to financial statements.
Statements of Assets and Liabilities (continued)
April 30, 2018
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 | ||||||||||||||||||
Assets | ||||||||||||||||||||||
Investments, at value (including securities on loan)(a) | $ | 584,684,750 | $ | 173,590,370 | $ | 34,344,034 | $ | 57,248,735 | $ | 51,615,604 | ||||||||||||
Foreign currency(b) | 331,237 | 227,953 | 3,520 | — | — | |||||||||||||||||
Cash deposited at broker for Forward foreign currency contracts collateral | 20,000 | — | — | — | — | |||||||||||||||||
Unrealized appreciation on Forward foreign currency contracts | 6,337,696 | 1,867,569 | 523,038 | — | — | |||||||||||||||||
Dividend receivable | 2,355,785 | 489,852 | 293,957 | 107 | 754 | |||||||||||||||||
Reclaims receivable | 556,855 | 319,689 | 3,720 | — | — | |||||||||||||||||
Securities lending income receivable | 5,063 | 1,640 | 390 | 6,556 | 3,198 | |||||||||||||||||
Receivable for investments sold | — | — | 6,012 | — | — | |||||||||||||||||
Due from broker | — | — | — | 23,462 | — | |||||||||||||||||
Total Assets | 594,291,386 | 176,497,073 | 35,174,671 | 57,278,860 | 51,619,556 | |||||||||||||||||
Liabilities | ||||||||||||||||||||||
Collateral for investments on loan | 9,366,228 | 4,501,909 | 36,157 | 7,739,673 | 528,755 | |||||||||||||||||
Payable for investments purchased | 6,081,351 | 3,149,861 | — | — | — | |||||||||||||||||
Unrealized depreciation on Forward foreign currency contracts | 233,191 | 67,332 | 21,937 | — | — | |||||||||||||||||
Advisory fees payable | 87,769 | 39,031 | 8,292 | 18,358 | 8,401 | |||||||||||||||||
Trustee fees payable | 2,539 | 725 | 155 | 216 | 226 | |||||||||||||||||
Due to broker | — | — | — | 47,522 | — | |||||||||||||||||
Cash due to custodian | — | — | 361,412 | — | — | |||||||||||||||||
Accrued expenses and other liabilities | 3,274 | 1,004 | 235 | 314 | 317 | |||||||||||||||||
Total Liabilities | 15,774,352 | 7,759,862 | 428,188 | 7,806,083 | 537,699 | |||||||||||||||||
Net Assets | $ | 578,517,034 | $ | 168,737,211 | $ | 34,746,483 | $ | 49,472,777 | $ | 51,081,857 | ||||||||||||
Composition of Net Assets | ||||||||||||||||||||||
Paid-in capital | $ | 555,523,121 | $ | 156,984,309 | $ | 30,215,359 | $ | 49,949,230 | $ | 56,858,127 | ||||||||||||
Undistributed (accumulated) net investment income (loss) | 3,645,338 | 1,142,504 | 94,474 | 202,093 | — | |||||||||||||||||
Undistributed (accumulated) net realized gain (loss) | (14,520,711 | ) | (6,986,775 | ) | (2,466,295 | ) | (1,118,015 | ) | (4,255,385 | ) | ||||||||||||
Net unrealized appreciation (depreciation) | 33,869,286 | 17,597,173 | 6,902,945 | 439,469 | (1,520,885 | ) | ||||||||||||||||
Net Assets | $ | 578,517,034 | $ | 168,737,211 | $ | 34,746,483 | $ | 49,472,777 | $ | 51,081,857 | ||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||||
Shares Outstanding (no par value, unlimited shares authorized) | 26,750,001 | 8,300,001 | 1,550,001 | 2,050,001 | 2,750,001 | |||||||||||||||||
Net Asset Value Per Share | $ | 21.63 | $ | 20.33 | $ | 22.42 | $ | 24.13 | $ | 18.58 | ||||||||||||
Investments, at cost | $ | 556,863,367 | $ | 157,781,737 | $ | 27,933,854 | $ | 56,809,266 | $ | 53,136,489 | ||||||||||||
(a) Market value of securities on loan | $ | 11,269,536 | $ | 4,262,780 | $ | 246,157 | $ | 8,117,227 | $ | 518,694 | ||||||||||||
(b) Cost of foreign currency | $ | 332,453 | $ | 229,323 | $ | 3,522 | $ | — | $ | — |
See notes to financial statements.
Statements of Assets and Liabilities (continued)
April 30, 2018
IQ Enhanced Core Plus Bond U.S. ETF | IQ S&P High Yield Low Volatility Bond ETF | IQ Chaikin U.S. Small Cap ETF | IQ Chaikin U.S. Large Cap ETF | |||||||||||||||
Assets | ||||||||||||||||||
Investments, at value (including securities on loan)(a) | $ | 394,142,056 | $ | 105,798,677 | $ | 469,771,508 | $ | 319,868,326 | ||||||||||
Investments in affiliates, at value | 13,174,984 | — | — | — | ||||||||||||||
Receivable for investments sold | 954,212 | 7,878,041 | 1,786,362 | 1,264,415 | ||||||||||||||
Securities lending income receivable | 84,235 | — | 3,492 | — | ||||||||||||||
Dividend receivable | 1,511 | — | 54,988 | 281,522 | ||||||||||||||
Interest receivable | — | 1,446,954 | 341 | — | ||||||||||||||
Total Assets | 408,356,998 | 115,123,672 | 471,616,691 | 321,414,263 | ||||||||||||||
Liabilities | ||||||||||||||||||
Collateral for investments on loan | 73,354,896 | — | 4,391,432 | — | ||||||||||||||
Payable for capital shares repurchased | 954,221 | — | — | 1,264,822 | ||||||||||||||
Advisory fees payable | 55,087 | 34,529 | 129,018 | 61,574 | ||||||||||||||
Trustee fees payable | 1,344 | 477 | 1,988 | 2,079 | ||||||||||||||
Payable for investments purchased | — | 7,895,564 | 1,747,340 | — | ||||||||||||||
Cash due to custodian | — | — | — | 85,112 | ||||||||||||||
Accrued expenses and other liabilities | 1,802 | 636 | 347 | 597 | ||||||||||||||
Total Liabilities | 74,367,350 | 7,931,206 | 6,270,125 | 1,414,184 | ||||||||||||||
Net Assets | $ | 333,989,648 | $ | 107,192,466 | $ | 465,346,566 | $ | 320,000,079 | ||||||||||
Composition of Net Assets | ||||||||||||||||||
Paid-in capital | $ | 352,918,510 | $ | 110,819,269 | $ | 469,755,887 | $ | 322,292,341 | ||||||||||
Undistributed (accumulated) net investment income (loss) | 14,785 | 368,463 | 144,782 | 245,918 | ||||||||||||||
Undistributed (accumulated) net realized gain (loss) | (11,179,552 | ) | (1,312,026 | ) | (8,075,018 | ) | (5,340,843 | ) | ||||||||||
Net unrealized appreciation (depreciation) | (7,764,095 | ) | (2,683,240 | ) | 3,520,915 | 2,802,663 | ||||||||||||
Net Assets | $ | 333,989,648 | $ | 107,192,466 | $ | 465,346,566 | $ | 320,000,079 | ||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||
Shares Outstanding (no par value, unlimited shares authorized) | 17,500,001 | 4,400,001 | 17,150,001 | 12,650,001 | ||||||||||||||
Net Asset Value Per Share | $ | 19.09 | $ | 24.36 | $ | 27.13 | $ | 25.30 | ||||||||||
Investments, at cost | $ | 401,756,963 | $ | 108,481,917 | $ | 466,250,593 | $ | 317,065,663 | ||||||||||
Investments in affiliates, at cost | $ | 13,324,172 | $ | — | $ | — | $ | — | ||||||||||
(a) Market value of securities on loan | $ | 74,895,524 | $ | — | $ | 20,440,510 | $ | — |
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 | $ | 25,636,733 | $ | 126,197 | $ | 261,213 | $ | 140,257 | $ | 103,243 | ||||||||||||
Income from affiliates | 608,524 | — | — | — | — | |||||||||||||||||
Securities lending income, net of borrower rebates | 1,404,240 | 19,564 | 17,477 | 4,161 | 3,696 | |||||||||||||||||
Total investment income | 27,649,497 | 145,761 | 278,690 | 144,418 | 106,939 | |||||||||||||||||
Expenses | ||||||||||||||||||||||
Advisory fees | 8,236,099 | 49,193 | 88,285 | 40,958 | 23,621 | |||||||||||||||||
Trustee fees | 46,350 | 259 | 497 | 225 | 132 | |||||||||||||||||
Legal fees | 6,614 | — | 63 | 84 | 10 | |||||||||||||||||
Compliance fees | 4,200 | 26 | 44 | 18 | 12 | |||||||||||||||||
Miscellaneous | 2,224 | 1 | 58 | 58 | 58 | |||||||||||||||||
Total expenses | 8,295,487 | 49,479 | 88,947 | 41,343 | 23,833 | |||||||||||||||||
Waiver/Reimbursement | (1,227,888 | ) | — | — | — | — | ||||||||||||||||
Net expenses | 7,067,599 | 49,479 | 88,947 | 41,343 | 23,833 | |||||||||||||||||
Net investment income | 20,581,898 | 96,282 | 189,743 | 103,075 | 83,106 | |||||||||||||||||
Realized and Unrealized Gain (Loss) on Investments and Swap Transactions | ||||||||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||||||||
Investment securities | 13,707,707 | 8,995 | 59,267 | (101,676 | ) | 23,288 | ||||||||||||||||
Investment in affiliates | 933,272 | — | — | — | — | |||||||||||||||||
In-Kind redemptions | 5,434,479 | — | — | 116,654 | — | |||||||||||||||||
Affiliates in-kind redemptions | 255,687 | — | — | — | — | |||||||||||||||||
Swap transactions | (11,177,056 | ) | (80,149 | ) | (112,528 | ) | 746 | 884 | ||||||||||||||
Distributions by other investment companies | 110,285 | 237 | — | 638 | — | |||||||||||||||||
Net realized gain (loss) | 9,264,374 | (70,917 | ) | (53,261 | ) | 16,362 | 24,172 | |||||||||||||||
Net change in net unrealized appreciation (depreciation) on: | ||||||||||||||||||||||
Investment securities | 15,923,607 | 197,348 | 13,566 | 56,690 | 13,877 | |||||||||||||||||
Investment in affiliates | (460,203 | ) | — | — | — | — | ||||||||||||||||
Net change in net unrealized appreciation (depreciation) | 15,463,404 | 197,348 | 13,566 | 56,690 | 13,877 | |||||||||||||||||
Net realized and unrealized gain (loss) | 24,727,778 | 126,431 | (39,695 | ) | 73,052 | 38,049 | ||||||||||||||||
Net Increase in Net Assets Resulting from Operations | $ | 45,309,676 | $ | 222,713 | $ | 150,048 | $ | 176,127 | $ | 121,155 |
See notes to financial statements.
Statements of Operations (continued)
For the year ended April 30, 2018
IQ Global Resources ETF | IQ Merger Arbitrage ETF | IQ Real Return ETF | IQ Global Agribusiness Small Cap ETF | IQ U.S. Real Estate Small Cap ETF | ||||||||||||||||||
Investment Income | ||||||||||||||||||||||
Dividend income* | $ | 6,641,417 | $ | 3,487,442 | $ | 360,070 | $ | 180,637 | $ | 4,332,666 | ||||||||||||
Securities lending income, net of borrower rebates | 40,864 | 158,660 | 115,641 | 11,813 | 48,505 | |||||||||||||||||
Total investment income | 6,682,281 | 3,646,102 | 475,711 | 192,450 | 4,381,171 | |||||||||||||||||
Expenses | ||||||||||||||||||||||
Advisory fees | 1,535,568 | 2,500,004 | 143,848 | 93,547 | 744,675 | |||||||||||||||||
Trustee fees | 8,769 | 13,260 | 1,227 | 540 | 4,337 | |||||||||||||||||
Legal fees | 1,806 | 4,893 | 216 | 52 | 757 | |||||||||||||||||
Compliance fees | 766 | 1,095 | 110 | 49 | 411 | |||||||||||||||||
Miscellaneous | 58 | 58 | 212 | 188 | 58 | |||||||||||||||||
Total expenses | 1,546,967 | 2,519,310 | 145,613 | 94,376 | 750,238 | |||||||||||||||||
Net investment income | 5,135,314 | 1,126,792 | 330,098 | 98,074 | 3,630,933 | |||||||||||||||||
Realized and Unrealized Gain (Loss) on Investments, Swap transactions and Forward foreign currency contracts and translation | ||||||||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||||||||
Investment securities | 1,085,801 | (5,429,056 | ) | 627,057 | (139,416 | ) | 936,891 | |||||||||||||||
In-Kind redemptions | 1,901,242 | 18,986,171 | — | 434,587 | 1,847,132 | |||||||||||||||||
Swap transactions | (4,277,493 | ) | (6,400,405 | ) | — | — | — | |||||||||||||||
Distributions by other investment companies | — | — | 1,839 | — | — | |||||||||||||||||
Foreign currency transactions | (424,236 | ) | (212,766 | ) | — | (2,281 | ) | — | ||||||||||||||
Net realized gain (loss) | (1,714,686 | ) | 6,943,944 | 628,896 | 292,890 | 2,784,023 | ||||||||||||||||
Net change in net unrealized appreciation (depreciation) on: | ||||||||||||||||||||||
Investment securities | 9,686,630 | (7,226,523 | ) | (487,900 | ) | 110,159 | (13,108,294 | ) | ||||||||||||||
Foreign currency translations | (860 | ) | 3,805 | — | (900 | ) | — | |||||||||||||||
Net change in net unrealized appreciation (depreciation) | 9,685,770 | (7,222,718 | ) | (487,900 | ) | 109,259 | (13,108,294 | ) | ||||||||||||||
Net realized and unrealized gain (loss) | 7,971,084 | (278,774 | ) | 140,996 | 402,149 | (10,324,271 | ) | |||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 13,106,398 | $ | 848,018 | $ | 471,094 | $ | 500,223 | $ | (6,693,338 | ) | |||||||||||
* Net of foreign taxes withheld of: | $ | 430,507 | $ | 58,974 | $ | — | $ | 14,768 | $ | — |
See notes to financial statements.
Statements of Operations (continued)
For the year ended April 30, 2018
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 | ||||||||||||||||||
Investment Income | ||||||||||||||||||||||
Dividend income* | $ | 12,260,420 | $ | 4,531,217 | $ | 627,328 | $ | 1,105,031 | $ | 1,657,455 | ||||||||||||
Securities lending income, net of borrower rebates | 28,243 | 13,983 | 3,956 | 60,883 | 51,602 | |||||||||||||||||
Total investment income | 12,288,663 | 4,545,200 | 631,284 | 1,165,914 | 1,709,057 | |||||||||||||||||
Expenses | ||||||||||||||||||||||
Advisory fees | 1,390,851 | 681,595 | 146,656 | 182,009 | 169,167 | |||||||||||||||||
Trustee fees | 15,660 | 5,513 | 1,328 | 1,675 | 2,807 | |||||||||||||||||
Legal fees | 5,733 | 1,929 | 299 | 371 | 290 | |||||||||||||||||
Compliance fees | 1,299 | 484 | 119 | 147 | 268 | |||||||||||||||||
Miscellaneous | 742 | 286 | 58 | 53 | 58 | |||||||||||||||||
Total expenses | 1,414,285 | 689,807 | 148,460 | 184,255 | 172,590 | |||||||||||||||||
Waiver/Reimbursement | (541,043 | ) | (200,854 | ) | (41,880 | ) | — | (33,834 | ) | |||||||||||||
Net expenses | 873,242 | 488,953 | 106,580 | 184,255 | 138,756 | |||||||||||||||||
Net investment income | 11,415,421 | 4,056,247 | 524,704 | 981,659 | 1,570,301 | |||||||||||||||||
Realized and Unrealized Gain (Loss) on Investments, Swap transactions and Forward foreign currency contracts and translation | ||||||||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||||||||
Investment securities | (1,709,384 | ) | (767,056 | ) | (45,421 | ) | (543,422 | ) | (1,686,839 | ) | ||||||||||||
In-Kind redemptions | 23,998,052 | — | 352,818 | 3,706,661 | (294,390 | ) | ||||||||||||||||
Swap transactions | — | — | — | 112,014 | — | |||||||||||||||||
Distributions by other investment companies | — | — | — | 2,112 | — | |||||||||||||||||
Forward foreign currency contracts | (13,372,224 | ) | (6,308,067 | ) | (622,845 | ) | — | — | ||||||||||||||
Foreign currency transactions | (128,116 | ) | (21,009 | ) | (4,136 | ) | — | — | ||||||||||||||
Net realized gain (loss) | 8,788,328 | (7,096,132 | ) | (319,584 | ) | 3,277,365 | (1,981,229 | ) | ||||||||||||||
Net change in net unrealized appreciation (depreciation) on: | ||||||||||||||||||||||
Investment securities | 9,836,539 | 13,468,927 | 4,783,854 | (1,384,243 | ) | (1,002,008 | ) | |||||||||||||||
Forward foreign currency contracts | 7,096,109 | 2,618,890 | 484,921 | — | — | |||||||||||||||||
Foreign currency translations | (61,487 | ) | (17,689 | ) | (7,755 | ) | — | — | ||||||||||||||
Net change in net unrealized appreciation (depreciation) | 16,871,161 | 16,070,128 | 5,261,020 | (1,384,243 | ) | (1,002,008 | ) | |||||||||||||||
Net realized and unrealized gain (loss) | 25,659,489 | 8,973,996 | 4,941,436 | 1,893,122 | (2,983,237 | ) | ||||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 37,074,910 | $ | 13,030,243 | $ | 5,466,140 | $ | 2,874,781 | $ | (1,412,936 | ) | |||||||||||
* Net of foreign taxes withheld of: | $ | 1,124,144 | $ | 453,737 | $ | 69,748 | $ | — | $ | — |
See notes to financial statements.
Statements of Operations (continued)
For the year ended April 30, 2018
IQ Enhanced Core Plus Bond U.S. ETF | IQ S&P High Yield Low Volatility Bond ETF | IQ Chaikin U.S. Small Cap ETF** | IQ Chaikin U.S. Large Cap ETF*** | |||||||||||||||
Investment Income | ||||||||||||||||||
Dividend income* | $ | 9,239,477 | $ | — | $ | 2,355,645 | $ | 1,342,028 | ||||||||||
Income from affiliates | 263,724 | — | — | — | ||||||||||||||
Interest income | — | 4,141,009 | — | — | ||||||||||||||
Securities lending income, net of borrower rebates | 392,786 | — | 157,912 | — | ||||||||||||||
Total investment income | 9,895,987 | 4,141,009 | 2,513,557 | 1,342,028 | ||||||||||||||
Expenses | ||||||||||||||||||
Advisory fees | 750,579 | 378,950 | 914,759 | 182,375 | ||||||||||||||
Trustee fees | 11,561 | 3,484 | 9,546 | 4,495 | ||||||||||||||
Legal fees | 3,352 | 1,318 | 3,744 | 885 | ||||||||||||||
Compliance fees | 1,063 | 323 | 900 | 240 | ||||||||||||||
Miscellaneous | 58 | 31 | 57 | 57 | ||||||||||||||
Total expenses | 766,613 | 384,106 | 929,006 | 188,052 | ||||||||||||||
Waiver/Reimbursement | (150,120 | ) | (5,124 | ) | (14,037 | ) | (8,175 | ) | ||||||||||
Net expenses | 616,493 | 378,982 | 914,969 | 179,877 | ||||||||||||||
Net investment income | 9,279,494 | 3,762,027 | 1,598,588 | 1,162,151 | ||||||||||||||
Realized and Unrealized Gain (Loss) on Investments | ||||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||||
Investment securities | (6,283,511 | ) | (1,289,536 | ) | (8,093,406 | ) | (5,340,843 | ) | ||||||||||
Investment in affiliates | (498,810 | ) | — | — | — | |||||||||||||
In-Kind redemptions | (811,623 | ) | 34,477 | 13,132,348 | 128,249 | |||||||||||||
Affiliates in-kind redemptions | (12,627 | ) | — | — | — | |||||||||||||
Net realized gain (loss) | (7,606,571 | ) | (1,255,059 | ) | 5,038,942 | (5,212,594 | ) | |||||||||||
Net change in net unrealized appreciation (depreciation) on: | ||||||||||||||||||
Investment securities | (8,205,632 | ) | (2,962,912 | ) | 3,520,915 | 2,802,663 | ||||||||||||
Investment in affiliates | 18,609 | — | — | — | ||||||||||||||
Net change in net unrealized appreciation (depreciation) | (8,187,023 | ) | (2,962,912 | ) | 3,520,915 | 2,802,663 | ||||||||||||
Net realized and unrealized gain (loss) | (15,793,594 | ) | (4,217,971 | ) | 8,559,857 | (2,409,931 | ) | |||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (6,514,100 | ) | $ | (455,944 | ) | $ | 10,158,445 | $ | (1,247,780 | ) | |||||||
* Net of foreign taxes withheld of: | $ | — | $ | — | $ | — | $ | 5,303 |
** | Commencement of operations May 16, 2017 |
*** | Commencement of operations December 13, 2017 |
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, | ||||||||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||
Net investment income | $ | 20,581,898 | $ | 19,447,581 | $ | 96,282 | $ | 156,346 | |||||||||||
Net realized gain (loss) | 9,264,374 | (8,854,800 | ) | (70,917 | ) | (153,982 | ) | ||||||||||||
Net change in net unrealized appreciation (depreciation) | 15,463,404 | (6,724,170 | ) | 197,348 | 319,738 | ||||||||||||||
Net increase in net assets resulting from operations | 45,309,676 | 3,868,611 | 222,713 | 322,102 | |||||||||||||||
Dividends and Distributions to Shareholders from: | |||||||||||||||||||
Net investment income | — | (21,554 | ) | — | — | ||||||||||||||
Capital Share Transactions | |||||||||||||||||||
Proceeds from shares created | 125,582,960 | 152,639,051 | — | 1,231,323 | |||||||||||||||
Cost of shares redeemed | (109,193,905 | ) | (168,026,883 | ) | — | (9,982,845 | ) | ||||||||||||
Net increase (decrease) from capital share transactions | 16,389,055 | (15,387,832 | ) | — | (8,751,522 | ) | |||||||||||||
Total increase (decrease) in net assets | 61,698,731 | (11,540,775 | ) | 222,713 | (8,429,420 | ) | |||||||||||||
Net Assets | |||||||||||||||||||
Beginning of year | 1,062,579,397 | 1,074,120,172 | 6,364,946 | 14,794,366 | |||||||||||||||
End of year | $ | 1,124,278,128 | $ | 1,062,579,397 | $ | 6,587,659 | $ | 6,364,946 | |||||||||||
Including undistributed (accumulated) net investment income (loss) as follows: | $ | 10,278,887 | $ | (2,362,666 | ) | $ | 24,981 | $ | 136 | ||||||||||
Changes in Shares Outstanding | |||||||||||||||||||
Shares outstanding, beginning of year | 36,450,000 | 37,000,000 | 250,000 | 600,000 | |||||||||||||||
Shares created | 4,150,000 | 5,250,000 | — | 50,000 | |||||||||||||||
Shares redeemed | (3,600,000 | ) | (5,800,000 | ) | — | (400,000 | ) | ||||||||||||
Shares outstanding, end of year | 37,000,000 | 36,450,000 | 250,000 | 250,000 |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
IQ Hedge Market Neutral Tracker ETF | IQ Hedge Long/Short Tracker ETF | ||||||||||||||||||
For the Year Ended April 30, | For the Year Ended April 30, | ||||||||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||
Net investment income | $ | 189,743 | $ | 189,055 | $ | 103,075 | $ | 35,618 | |||||||||||
Net realized gain (loss) | (53,261 | ) | 45,583 | 16,362 | 87,214 | ||||||||||||||
Net change in net unrealized appreciation (depreciation) | 13,566 | (191,762 | ) | 56,690 | 50,947 | ||||||||||||||
Net increase in net assets resulting from operations | 150,048 | 42,876 | 176,127 | 173,779 | |||||||||||||||
Dividends and Distributions to Shareholders from: | |||||||||||||||||||
Net investment income | — | (173,905 | ) | (16,706 | ) | (5,839 | ) | ||||||||||||
Capital Share Transactions | |||||||||||||||||||
Proceeds from shares created | 1,276,132 | 1,287,101 | 5,621,040 | 4,982,047 | |||||||||||||||
Cost of shares redeemed | — | (5,086,305 | ) | (1,088,637 | ) | (2,965,571 | ) | ||||||||||||
Net increase from capital share transactions | 1,276,132 | (3,799,204 | ) | 4,532,403 | 2,016,476 | ||||||||||||||
Total increase in net assets | 1,426,180 | (3,930,233 | ) | 4,691,824 | 2,184,416 | ||||||||||||||
Net Assets | |||||||||||||||||||
Beginning of year | 11,364,111 | 15,294,344 | 4,072,346 | 1,887,930 | |||||||||||||||
End of year | $ | 12,790,291 | $ | 11,364,111 | $ | 8,764,170 | $ | 4,072,346 | |||||||||||
Including undistributed (accumulated) net investment income (loss) as follows: | $ | 2,372 | $ | (142,935 | ) | $ | 80,533 | $ | (10,481 | ) | |||||||||
Changes in Shares Outstanding | |||||||||||||||||||
Shares outstanding, beginning of year | 450,000 | 600,000 | 200,001 | 100,001 | |||||||||||||||
Shares created | 50,000 | 50,000 | 250,000 | 250,000 | |||||||||||||||
Shares redeemed | — | (200,000 | ) | (50,000 | ) | (150,000 | ) | ||||||||||||
Shares outstanding, end of year | 500,000 | 450,000 | 400,001 | 200,001 |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
IQ Hedge Event-Driven Tracker ETF | IQ Global Resources ETF | ||||||||||||||||||
For the Year Ended April 30, | For the Year Ended April 30, | ||||||||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||
Net investment income | $ | 83,106 | $ | 99,540 | $ | 5,135,314 | $ | 1,850,992 | |||||||||||
Net realized gain (loss) | 24,172 | (3,754 | ) | (1,714,686 | ) | 10,673,002 | |||||||||||||
Net change in net unrealized appreciation (depreciation) | 13,877 | 115,772 | 9,685,770 | (7,331,845 | ) | ||||||||||||||
Net increase in net assets resulting from operations | 121,155 | 211,558 | 13,106,398 | 5,192,149 | |||||||||||||||
Dividends and Distributions to Shareholders from: | |||||||||||||||||||
Net investment income | (70,341 | ) | (114,315 | ) | — | (676,550 | ) | ||||||||||||
Capital Share Transactions | |||||||||||||||||||
Proceeds from shares created | — | 5,065,335 | 59,545,258 | 179,178,063 | |||||||||||||||
Cost of shares redeemed | — | (4,014,533 | ) | (13,389,404 | ) | (72,167,934 | ) | ||||||||||||
Net increase from capital share transactions | — | 1,050,802 | 46,155,854 | 107,010,129 | |||||||||||||||
Total increase in net assets | 50,814 | 1,148,045 | 59,262,252 | 111,525,728 | |||||||||||||||
Net Assets | |||||||||||||||||||
Beginning of year | 3,088,162 | 1,940,117 | 179,450,223 | 67,924,495 | |||||||||||||||
End of year | $ | 3,138,976 | $ | 3,088,162 | $ | 238,712,475 | $ | 179,450,223 | |||||||||||
Including undistributed (accumulated) net investment income (loss) as follows: | $ | 45,908 | $ | 32,303 | $ | (69,350 | ) | $ | (3,146,506 | ) | |||||||||
Changes in Shares Outstanding | |||||||||||||||||||
Shares outstanding, beginning of year | 150,001 | 100,001 | 6,950,000 | 2,750,000 | |||||||||||||||
Shares created | — | 250,000 | 2,150,000 | 7,000,000 | |||||||||||||||
Shares redeemed | — | (200,000 | ) | (500,000 | ) | (2,800,000 | ) | ||||||||||||
Shares outstanding, end of year | 150,001 | 150,001 | 8,600,000 | 6,950,000 |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
IQ Merger Arbitrage ETF | IQ Real Return ETF | ||||||||||||||||||
For the Year Ended April 30, | For the Year Ended April 30, | ||||||||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||
Net investment income | $ | 1,126,792 | $ | 1,218,468 | $ | 330,098 | $ | 221,269 | |||||||||||
Net realized gain (loss) | 6,943,944 | 4,484,432 | 628,896 | 148,068 | |||||||||||||||
Net change in net unrealized appreciation (depreciation) | (7,222,718 | ) | 3,944,491 | (487,900 | ) | 128,231 | |||||||||||||
Net increase in net assets resulting from operations | 848,018 | 9,647,391 | 471,094 | 497,568 | |||||||||||||||
Dividends and Distributions to Shareholders from: | |||||||||||||||||||
Net investment income | — | (291,365 | ) | (308,837 | ) | — | |||||||||||||
Capital Share Transactions | |||||||||||||||||||
Proceeds from shares created | 590,741,873 | 80,811,670 | 16,549,415 | 4,053,675 | |||||||||||||||
Cost of shares redeemed | (255,037,093 | ) | (40,701,519 | ) | — | (2,670,680 | ) | ||||||||||||
Net increase from capital share transactions | 335,704,780 | 40,110,151 | 16,549,415 | 1,382,995 | |||||||||||||||
Total increase in net assets | 336,552,798 | 49,466,177 | 16,711,672 | 1,880,563 | |||||||||||||||
Net Assets | |||||||||||||||||||
Beginning of year | 188,833,082 | 139,366,905 | 28,607,760 | 26,727,197 | |||||||||||||||
End of year | $ | 525,385,880 | $ | 188,833,082 | $ | 45,319,432 | $ | 28,607,760 | |||||||||||
Including undistributed (accumulated) net investment income (loss) as follows: | $ | (120,110 | ) | $ | (1,871,841 | ) | $ | 172,756 | $ | 143,363 | |||||||||
Changes in Shares Outstanding | |||||||||||||||||||
Shares outstanding, beginning of year | 6,250,000 | 4,900,000 | 1,050,000 | 1,000,000 | |||||||||||||||
Shares created | 19,150,000 | 2,750,000 | 600,000 | 150,000 | |||||||||||||||
Shares redeemed | (8,300,000 | ) | (1,400,000 | ) | — | (100,000 | ) | ||||||||||||
Shares outstanding, end of year | 17,100,000 | 6,250,000 | 1,650,000 | 1,050,000 |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
IQ Global Agribusiness Small Cap ETF | IQ U.S. Real Estate Small Cap ETF | |||||||||||||||||
For the Year Ended April 30, | For the Year Ended April 30, | |||||||||||||||||
2018 | 2017 | 2018 | 2017 | |||||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||||
Net investment income | $ | 98,074 | $ | 131,225 | $ | 3,630,933 | $ | 2,319,500 | ||||||||||
Net realized gain (loss) | 292,890 | (759,651 | ) | 2,784,023 | 1,582,019 | |||||||||||||
Net change in net unrealized appreciation (depreciation) | 109,259 | 2,016,323 | (13,108,294 | ) | 6,491,993 | |||||||||||||
Net increase (decrease) in net assets resulting from operations | 500,223 | 1,387,897 | (6,693,338 | ) | 10,393,512 | |||||||||||||
Dividends and Distributions to Shareholders from: | ||||||||||||||||||
Net investment income | (109,575 | ) | (171,392 | ) | (3,563,539 | ) | (2,277,082 | ) | ||||||||||
Return of Capital | — | — | (2,075,765 | ) | (2,848,754 | ) | ||||||||||||
Total dividends and distributions to shareholders | (109,575 | ) | (171,392 | ) | (5,639,304 | ) | (5,125,836 | ) | ||||||||||
Capital Share Transactions | ||||||||||||||||||
Proceeds from shares created | — | 1,549,035 | 6,779,681 | 52,855,659 | ||||||||||||||
Cost of shares redeemed | (1,713,338 | ) | (1,617,334 | ) | (26,358,606 | ) | (20,785,531 | ) | ||||||||||
Net increase (decrease) from capital share transactions | (1,713,338 | ) | (68,299 | ) | (19,578,925 | ) | 32,070,128 | |||||||||||
Total increase (decrease) in net assets | (1,322,690 | ) | 1,148,206 | (31,911,567 | ) | 37,337,804 | ||||||||||||
Net Assets | ||||||||||||||||||
Beginning of year | 13,195,415 | 12,047,209 | 114,000,722 | 76,662,918 | ||||||||||||||
End of year | $ | 11,872,725 | $ | 13,195,415 | $ | 82,089,155 | $ | 114,000,722 | ||||||||||
Including undistributed (accumulated) net investment income (loss) as follows: | $ | 44,699 | $ | 57,527 | $ | 94,696 | $ | 116,201 | ||||||||||
Changes in Shares Outstanding | ||||||||||||||||||
Shares outstanding, beginning of year | 400,000 | 400,000 | 4,200,000 | 3,050,000 | ||||||||||||||
Shares created | — | 50,000 | 250,000 | 1,950,000 | ||||||||||||||
Shares redeemed | (50,000 | ) | (50,000 | ) | (1,050,000 | ) | (800,000 | ) | ||||||||||
Shares outstanding, end of year | 350,000 | 400,000 | 3,400,000 | 4,200,000 |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
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, | ||||||||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||
Net investment income | $ | 11,415,421 | $ | 3,928,527 | $ | 4,056,247 | $ | 1,473,587 | |||||||||||
Net realized gain (loss) | 8,788,328 | 3,835,699 | (7,096,132 | ) | (675,055 | ) | |||||||||||||
Net change in net unrealized appreciation | 16,871,161 | 17,633,261 | 16,070,128 | 3,138,322 | |||||||||||||||
Net increase in net assets resulting from operations | 37,074,910 | 25,397,487 | 13,030,243 | 3,936,854 | |||||||||||||||
Dividends and Distributions to Shareholders from: | |||||||||||||||||||
Net investment income | (8,781,886 | ) | (3,525,841 | ) | (3,305,273 | ) | (1,674,374 | ) | |||||||||||
Net realized gains | (61,824 | ) | (1,799,252 | ) | — | (1,256,080 | ) | ||||||||||||
Total dividends and distributions to shareholders | (8,843,710 | ) | (5,325,093 | ) | (3,305,273 | ) | (2,930,454 | ) | |||||||||||
Capital Share Transactions | |||||||||||||||||||
Proceeds from shares created | 465,488,096 | 117,132,459 | 77,166,966 | 100,469,196 | |||||||||||||||
Cost of shares redeemed | (123,797,011 | ) | (4,620,407 | ) | — | (66,353,843 | ) | ||||||||||||
Net increase from capital share transactions | 341,691,085 | 112,512,052 | 77,166,966 | 34,115,353 | |||||||||||||||
Total increase in net assets | 369,922,285 | 132,584,446 | 86,891,936 | 35,121,753 | |||||||||||||||
Net Assets | |||||||||||||||||||
Beginning of year | 208,594,749 | 76,010,303 | 81,845,275 | 46,723,522 | |||||||||||||||
End of year | $ | 578,517,034 | $ | 208,594,749 | $ | 168,737,211 | $ | 81,845,275 | |||||||||||
Including undistributed (accumulated) net investment income (loss) as follows: | $ | 3,645,338 | $ | 862,280 | $ | 1,142,504 | $ | 411,167 | |||||||||||
Changes in Shares Outstanding | |||||||||||||||||||
Shares outstanding, beginning of year | 10,600,001 | 4,300,001 | 4,350,001 | 2,650,001 | |||||||||||||||
Shares created | 22,150,000 | 6,550,000 | 3,950,000 | 5,650,000 | |||||||||||||||
Shares redeemed | (6,000,000 | ) | (250,000 | ) | — | (3,950,000 | ) | ||||||||||||
Shares outstanding, end of year | 26,750,001 | 10,600,001 | 8,300,001 | 4,350,001 |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
IQ 50 Percent Hedged FTSE Japan ETF | IQ Leaders GTAA Tracker ETF | ||||||||||||||||||
For the Year Ended April 30, | For the Year Ended April 30, | ||||||||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||
Net investment income | $ | 524,704 | $ | 396,073 | $ | 981,659 | $ | 635,808 | |||||||||||
Net realized gain (loss) | (319,584 | ) | (445,913 | ) | 3,277,365 | 967,789 | |||||||||||||
Net change in net unrealized appreciation (depreciation) | 5,261,020 | 3,278,665 | (1,384,243 | ) | 1,766,086 | ||||||||||||||
Net increase (decrease) in net assets resulting from operations | 5,466,140 | 3,228,825 | 2,874,781 | 3,369,683 | |||||||||||||||
Dividends and Distributions to Shareholders from: | |||||||||||||||||||
Net investment income | (544,769 | ) | (614,409 | ) | (1,005,870 | ) | (576,860 | ) | |||||||||||
Capital Share Transactions | |||||||||||||||||||
Proceeds from shares created | 3,191,034 | — | 45,790,546 | 50,067,774 | |||||||||||||||
Cost of shares redeemed | (1,105,653 | ) | — | (32,426,450 | ) | (20,716,891 | ) | ||||||||||||
Net increase (decrease) from capital share transactions | 2,085,381 | — | 13,364,096 | 29,350,883 | |||||||||||||||
Total increase (decrease) in net assets | 7,006,752 | 2,614,416 | 15,233,007 | 32,143,706 | |||||||||||||||
Net Assets | |||||||||||||||||||
Beginning of year | 27,739,731 | 25,125,315 | 34,239,770 | 2,096,064 | |||||||||||||||
End of year | $ | 34,746,483 | $ | 27,739,731 | $ | 49,472,777 | $ | 34,239,770 | |||||||||||
Including undistributed (accumulated) net investment income (loss) as follows: | $ | 94,474 | $ | 110,861 | $ | 202,093 | $ | 96,009 | |||||||||||
Changes in Shares Outstanding | |||||||||||||||||||
Shares outstanding, beginning of year | 1,450,001 | 1,450,001 | 1,500,001 | 100,001 | |||||||||||||||
Shares created | 150,000 | — | 1,900,000 | 2,350,000 | |||||||||||||||
Shares redeemed | (50,000 | ) | — | (1,350,000 | ) | (950,000 | ) | ||||||||||||
Shares outstanding, end of year | 1,550,001 | 1,450,001 | 2,050,001 | 1,500,001 |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
IQ Enhanced Core Bond U.S. ETF | IQ Enhanced Core Plus Bond U.S. ETF | ||||||||||||||||||
For the Year Ended April 30, 2018 | For the Period May 10, 2016* to April 30, 2017 | For the Year Ended April 30, 2018 | For the Period May 10, 2016* to April 30, 2017 | ||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||
Net investment income | $ | 1,570,301 | $ | 1,470,393 | $ | 9,279,494 | $ | 5,236,037 | |||||||||||
Net realized gain (loss) | (1,981,229 | ) | (2,452,013 | ) | (7,606,571 | ) | (4,343,168 | ) | |||||||||||
Net change in net unrealized appreciation (depreciation) | (1,002,008 | ) | (518,877 | ) | (8,187,023 | ) | 422,928 | ||||||||||||
Net increase (decrease) in net assets resulting from operations | (1,412,936 | ) | (1,500,497 | ) | (6,514,100 | ) | 1,315,797 | ||||||||||||
Dividends and Distributions to Shareholders from: | |||||||||||||||||||
Net investment income | (1,575,071 | ) | (1,478,105 | ) | (9,263,899 | ) | (5,319,018 | ) | |||||||||||
Capital Share Transactions | |||||||||||||||||||
Proceeds from shares created | 7,640,257 | 110,679,288 | 221,440,893 | 334,275,090 | |||||||||||||||
Cost of shares redeemed | (27,802,367 | ) | (33,468,712 | ) | (102,460,425 | ) | (99,484,690 | ) | |||||||||||
Net increase (decrease) from capital share transactions | (20,162,110 | ) | 77,210,576 | 118,980,468 | 234,790,400 | ||||||||||||||
Total increase (decrease) in net assets | (23,150,117 | ) | 74,231,974 | 103,202,469 | 230,787,179 | ||||||||||||||
Net Assets | |||||||||||||||||||
Beginning of period | 74,231,974 | — | 230,787,179 | — | |||||||||||||||
End of period | $ | 51,081,857 | $ | 74,231,974 | $ | 333,989,648 | $ | 230,787,179 | |||||||||||
Including undistributed (accumulated) net investment income (loss) as follows: | $ | — | $ | — | $ | 14,785 | $ | — | |||||||||||
Changes in Shares Outstanding | |||||||||||||||||||
Shares outstanding, beginning of period | 3,800,001 | — | 11,550,001 | — | |||||||||||||||
Shares created | 400,000 | 5,500,001 | 11,200,000 | 16,550,001 | |||||||||||||||
Shares redeemed | (1,450,000 | ) | (1,700,000 | ) | (5,250,000 | ) | (5,000,000 | ) | |||||||||||
Shares outstanding, end of period | 2,750,001 | 3,800,001 | 17,500,001 | 11,550,001 |
* | Commencement of operations. |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
IQ S&P High Yield Low Volatility Bond ETF | IQ Chaikin U.S. Small Cap ETF | IQ Chaikin U.S. Large Cap ETF | |||||||||||||||||
For the Year Ended April 30, 2018 | For the Period February 15, 2017* to April 30, 2017 | For the Period May 16, 2017* to April 30, 2018 | For the Period December 13, 2017* to April 30, 2018 | ||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||
Net investment income | $ | 3,762,027 | $ | 322,796 | $ | 1,598,588 | $ | 1,162,151 | |||||||||||
Net realized gain (loss) | (1,255,059 | ) | (13,904 | ) | 5,038,942 | (5,212,594 | ) | ||||||||||||
Net change in net unrealized appreciation (depreciation) | (2,962,912 | ) | 279,672 | 3,520,915 | 2,802,663 | ||||||||||||||
Net increase (decrease) in net assets resulting from operations | (455,944 | ) | 588,564 | 10,158,445 | (1,247,780 | ) | |||||||||||||
Dividends and Distributions to Shareholders from: | |||||||||||||||||||
Net investment income | (3,536,709 | ) | (181,476 | ) | (1,436,366 | ) | (916,233 | ) | |||||||||||
Capital Share Transactions | |||||||||||||||||||
Proceeds from shares created | 64,577,677 | 51,257,753 | 514,484,818 | 324,739,089 | |||||||||||||||
Cost of shares redeemed | (2,537,164 | ) | (2,520,235 | ) | (57,860,331 | ) | (2,574,997 | ) | |||||||||||
Net increase from capital share transactions | 62,040,513 | 48,737,518 | 456,624,487 | 322,164,092 | |||||||||||||||
Total increase in net assets | 58,047,860 | 49,144,606 | 465,346,566 | 320,000,079 | |||||||||||||||
Net Assets | |||||||||||||||||||
Beginning of period | 49,144,606 | — | — | — | |||||||||||||||
End of period | $ | 107,192,466 | $ | 49,144,606 | $ | 465,346,566 | $ | 320,000,079 | |||||||||||
Including undistributed (accumulated) net investment income (loss) as follows: | $ | 368,463 | $ | 141,320 | $ | 144,782 | $ | 245,918 | |||||||||||
Changes in Shares Outstanding | |||||||||||||||||||
Shares outstanding, beginning of period | 1,950,001 | — | — | — | |||||||||||||||
Shares created | 2,550,000 | 2,050,001 | 19,250,001 | 12,750,001 | |||||||||||||||
Shares redeemed | (100,000 | ) | (100,000 | ) | (2,100,000 | ) | (100,000 | ) | |||||||||||
Shares outstanding, end of period | 4,400,001 | 1,950,001 | 17,150,001 | 12,650,001 |
* | Commencement of operations. |
See notes to financial statements.
IQ Hedge Multi-Strategy Tracker ETF | ||||||||||||||||||||||
For the Year Ended April 30, | ||||||||||||||||||||||
2018 | 2017 | 2016 | 2015 | 2014 | ||||||||||||||||||
Net asset value, beginning of year | $ | 29.15 | $ | 29.03 | $ | 30.01 | $ | 29.26 | $ | 28.41 | ||||||||||||
Income from Investment Operations | ||||||||||||||||||||||
Net investment income(a)* | 0.56 | 0.50 | 0.43 | 0.38 | 0.33 | |||||||||||||||||
Net realized and unrealized gain (loss) | 0.68 | (0.38 | ) | (1.30 | ) | 0.74 | 0.88 | |||||||||||||||
Distributions of net realized gains from investments in other investment companies | 0.00 | (b) | 0.00 | (b) | 0.03 | 0.02 | 0.01 | |||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 1.24 | 0.12 | (0.84 | ) | 1.14 | 1.22 | ||||||||||||||||
Distributions from: | ||||||||||||||||||||||
Net investment income | — | (0.00 | )(c) | (0.14 | ) | (0.39 | ) | (0.37 | ) | |||||||||||||
Net asset value, end of year | $ | 30.39 | $ | 29.15 | $ | 29.03 | $ | 30.01 | $ | 29.26 | ||||||||||||
Market price, end of year | $ | 30.38 | $ | 29.15 | $ | 29.06 | $ | 30.00 | ||||||||||||||
Total Return | ||||||||||||||||||||||
Total investment return based on net asset value(d) | 4.24 | % | 0.42 | % | (2.80 | )% | 3.93 | %(e) | 4.30 | %(e) | ||||||||||||
Total investment return based on Market price(f) | 4.22 | % | 0.31 | % | (2.67 | )% | 3.79 | % | ||||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 1,124,278 | $ | 1,062,579 | $ | 1,074,120 | $ | 1,000,840 | $ | 722,844 | ||||||||||||
Ratio to average net assets of: | ||||||||||||||||||||||
Expenses net of waivers/reimbursements(g) | 0.64 | % | 0.76 | % | 0.76 | % | 0.76 | % | 0.75 | % | ||||||||||||
Expenses excluding waivers/reimbursements(g) | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | 0.75 | % | ||||||||||||
Net investment income (loss)* | 1.87 | % | 1.72 | % | 1.48 | % | 1.27 | % | 1.16 | % | ||||||||||||
Portfolio turnover rate(h) | 164 | % | 285 | % | 312 | % | 81 | % | 119 | % |
* | 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) | Greater 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) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to May 31, 2016, the closing price listed on the NYSE Arca was used. |
(g) | Excludes expenses incurred by the underlying investments in other funds. |
(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. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Hedge Macro Tracker ETF | ||||||||||||||||||||||
For the Year Ended April 30, | ||||||||||||||||||||||
2018 | 2017 | 2016 | 2015 | 2014 | ||||||||||||||||||
Net asset value, beginning of year | $ | 25.46 | $ | 24.66 | $ | 25.69 | $ | 26.50 | $ | 26.90 | ||||||||||||
Income from Investment Operations | ||||||||||||||||||||||
Net investment income(a)* | 0.39 | 0.37 | 0.46 | 0.32 | 0.36 | |||||||||||||||||
Net realized and unrealized gain (loss) | 0.50 | 0.43 | (1.27 | ) | (0.79 | ) | (0.62 | ) | ||||||||||||||
Distributions of net realized gains from investments in other investment companies | 0.00 | (b) | 0.00 | (b) | 0.05 | 0.00 | (b) | 0.02 | ||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 0.89 | 0.80 | (0.76 | ) | (0.47 | ) | (0.24 | ) | ||||||||||||||
Distributions from: | ||||||||||||||||||||||
Net investment income | — | — | (0.27 | ) | (0.34 | ) | (0.16 | ) | ||||||||||||||
Net asset value, end of year | $ | 26.35 | $ | 25.46 | $ | 24.66 | $ | 25.69 | $ | 26.50 | ||||||||||||
Market price, end of year | $ | 26.34 | $ | 25.44 | $ | 24.80 | $ | 25.74 | ||||||||||||||
Total Return | ||||||||||||||||||||||
Total investment return based on net asset value(c) | 3.50 | % | 3.25 | % | (2.97 | )% | (1.77 | )% | (0.90 | )% | ||||||||||||
Total investment return based on Market price(d) | 3.54 | % | 2.58 | % | (2.60 | )% | (1.47 | )% | ||||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 6,588 | $ | 6,365 | $ | 14,794 | $ | 21,837 | $ | 26,504 | ||||||||||||
Ratio to average net assets of: | ||||||||||||||||||||||
Expenses(e) | 0.75 | % | 0.76 | % | 0.76 | % | 0.75 | % | 0.75 | % | ||||||||||||
Net investment income (loss)* | 1.47 | % | 1.50 | % | 1.86 | % | 1.23 | % | 1.37 | % | ||||||||||||
Portfolio turnover rate(f) | 152 | % | 68 | % | 99 | % | 101 | % | 58 | % |
* | 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) | 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) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to May 31, 2016, the closing price listed on the NYSE Arca was used. |
(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. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Hedge Market Neutral Tracker ETF | |||||||||||||||||||||||
For the Year Ended April 30, | |||||||||||||||||||||||
2018 | 2017 | 2016 | 2015 | 2014 | |||||||||||||||||||
Net asset value, beginning of year | $ | 25.25 | $ | 25.49 | $ | 25.53 | $ | 25.77 | $ | 25.69 | |||||||||||||
Income from Investment Operations | |||||||||||||||||||||||
Net investment income(a)* | 0.41 | 0.36 | 0.27 | 0.16 | 0.16 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (0.08 | ) | (0.25 | ) | (0.33 | ) | (0.09 | ) | 0.12 | ||||||||||||||
Distributions of net realized gains from investments in other investment companies | — | 0.00 | (b) | 0.02 | 0.03 | 0.02 | |||||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 0.33 | 0.11 | (0.04 | ) | 0.10 | 0.30 | |||||||||||||||||
Distributions from: | |||||||||||||||||||||||
Net investment income | — | (0.35 | ) | — | (0.34 | ) | (0.22 | ) | |||||||||||||||
Net asset value, end of year | $ | 25.58 | $ | 25.25 | $ | 25.49 | $ | 25.53 | $ | 25.77 | |||||||||||||
Market price, end of year | $ | 25.58 | $ | 25.25 | $ | 25.43 | $ | 25.50 | |||||||||||||||
Total Return | |||||||||||||||||||||||
Total investment return based on net asset value(c) | 1.29 | % | 0.44 | % | (0.15 | )% | 0.40 | % | 1.17 | % | |||||||||||||
Total investment return based on Market price(d) | 1.31 | % | 0.67 | % | 0.27 | % | 0.43 | % | |||||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 12,790 | $ | 11,364 | $ | 15,294 | $ | 12,766 | $ | 16,748 | |||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||||
Expenses(e) | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | 0.75 | % | |||||||||||||
Net investment income (loss)* | 1.61 | % | 1.40 | % | 1.09 | % | 0.64 | % | 0.64 | % | |||||||||||||
Portfolio turnover rate(f) | 165 | % | 99 | % | 135 | % | 101 | % | 51 | % |
* | 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) | 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) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to May 31, 2016, the closing price listed on the NYSE Arca was used. |
(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. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Hedge Long/Short Tracker ETF | ||||||||||||||||||||
For the Year Ended April 30, | For the Period March 24, 2015(a) to April 30, 2015 | |||||||||||||||||||
2018 | 2017 | 2016 | ||||||||||||||||||
Net asset value, beginning of period | $ | 20.36 | $ | 18.88 | $ | 19.93 | $ | 20.00 | ||||||||||||
Income from Investment Operations | ||||||||||||||||||||
Net investment income(b)* | 0.41 | 0.35 | 0.41 | 0.04 | ||||||||||||||||
Net realized and unrealized gain (loss) | 1.22 | 1.19 | (1.10 | ) | (0.11 | ) | ||||||||||||||
Distributions of net realized gains from investments in other investment companies | 0.00 | (c) | 0.00 | (c) | — | — | ||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 1.63 | 1.54 | (0.69 | ) | (0.07 | ) | ||||||||||||||
Distributions from: | ||||||||||||||||||||
Net investment income | (0.08 | ) | (0.06 | ) | (0.36 | ) | — | |||||||||||||
Net asset value, end of period | $ | 21.91 | $ | 20.36 | $ | 18.88 | $ | 19.93 | ||||||||||||
Market price, end of period | $ | 21.93 | $ | 20.34 | $ | 18.72 | $ | 20.79 | ||||||||||||
Total Return | ||||||||||||||||||||
Total investment return based on net asset value(d) | 8.02 | % | 8.18 | % | (3.46 | )% | (0.35 | )% | ||||||||||||
Total investment return based on Market price(e) | 8.23 | % | 8.98 | % | (8.23 | )% | 3.95 | %(h) | ||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||
Net assets, end of period (000’s omitted) | $ | 8,764 | $ | 4,072 | $ | 1,888 | $ | 1,993 | ||||||||||||
Ratio to average net assets of: | ||||||||||||||||||||
Expenses(f) | 0.76 | % | 0.77 | % | 0.76 | % | 0.75 | %(i) | ||||||||||||
Net investment income* | 1.89 | % | 1.78 | % | 2.15 | % | 1.73 | %(i) | ||||||||||||
Portfolio turnover rate(g) | 77 | % | 147 | % | 94 | % | 4 | % |
* | 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) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to May 31, 2016, the closing price listed on the NYSE Arca was used. |
(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) | Since the Shares of the Fund 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. |
(i) | Annualized. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Hedge Event-Driven Tracker ETF | |||||||||||||||||||||
For the Year Ended April 30, | For the Period March 24, 2015(a) to April 30, 2015 | ||||||||||||||||||||
2018 | 2017 | 2016 | |||||||||||||||||||
Net asset value, beginning of period | $ | 20.59 | $ | 19.40 | $ | 20.01 | $ | 19.95 | |||||||||||||
Income from Investment Operations | |||||||||||||||||||||
Net investment income(b)* | 0.55 | 0.56 | 0.54 | 0.02 | |||||||||||||||||
Net realized and unrealized gain (loss) | 0.26 | 1.09 | (1.03 | ) | 0.03 | ||||||||||||||||
Distributions of net realized gains from investments in other investment companies | — | 0.00 | (c) | 0.23 | 0.01 | ||||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 0.81 | 1.65 | (0.26 | ) | 0.06 | ||||||||||||||||
Distributions from: | |||||||||||||||||||||
Net investment income | (0.47 | ) | (0.46 | ) | (0.35 | ) | — | ||||||||||||||
Net asset value, end of period | $ | 20.93 | $ | 20.59 | $ | 19.40 | $ | 20.01 | |||||||||||||
Market price, end of period | $ | 20.93 | $ | 20.59 | $ | 19.43 | $ | 20.00 | |||||||||||||
Total Return | |||||||||||||||||||||
Total investment return based on net asset value(d) | 3.93 | % | 8.58 | % | (1.26 | )% | 0.30 | % | |||||||||||||
Total investment return based on Market price(e) | 3.94 | % | 8.44 | % | (1.04 | )% | 0.25 | %(f) | |||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||
Net assets, end of period (000’s omitted) | $ | 3,139 | $ | 3,088 | $ | 1,940 | $ | 2,001 | |||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||
Expenses(g) | 0.76 | % | 0.76 | % | 0.79 | % | 0.75 | %(h) | |||||||||||||
Net investment income (loss)* | 2.64 | % | 2.80 | % | 2.81 | % | 1.31 | %(h) | |||||||||||||
Portfolio turnover rate(i) | 41 | % | 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) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to May 31, 2016, the closing price listed on the NYSE Arca was used. |
(f) | 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. |
(g) | Excludes expenses incurred by the underlying investments in other funds. |
(h) | Annualized. |
(i) | 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. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Global Resources ETF | ||||||||||||||||||||||
For the Year Ended April 30, | ||||||||||||||||||||||
2018 | 2017 | 2016 | 2015 | 2014 | ||||||||||||||||||
Net asset value, beginning of year | $ | 25.82 | $ | 24.70 | $ | 27.18 | $ | 29.21 | $ | 28.50 | ||||||||||||
Income from Investment Operations | ||||||||||||||||||||||
Net investment income(a)* | 0.68 | 0.33 | 0.56 | 0.37 | 0.41 | |||||||||||||||||
Net realized and unrealized gain (loss) | 1.26 | 0.89 | (2.48 | ) | (2.05 | ) | 0.61 | |||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 1.94 | 1.22 | (1.92 | ) | (1.68 | ) | 1.02 | |||||||||||||||
Distributions from: | ||||||||||||||||||||||
Net investment income | — | (0.10 | ) | (0.56 | ) | (0.35 | ) | (0.31 | ) | |||||||||||||
Net asset value, end of year | $ | 27.76 | $ | 25.82 | $ | 24.70 | $ | 27.18 | $ | 29.21 | ||||||||||||
Market price, end of year | $ | 27.65 | $ | 25.95 | $ | 24.78 | $ | 27.18 | ||||||||||||||
Total Return | ||||||||||||||||||||||
Total investment return based on net asset value(b) | 7.50 | % | 4.94 | % | (6.71 | )%(c) | (5.75 | )%(c) | 3.61 | %(c) | ||||||||||||
Total investment return based on Market price(d) | 6.55 | % | 5.13 | % | (6.41 | )% | (5.97 | )% | ||||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 238,712 | $ | 179,450 | $ | 67,924 | $ | 66,587 | $ | 84,719 | ||||||||||||
Ratio to average net assets of: | ||||||||||||||||||||||
Expenses(e) | 0.76 | % | 0.75 | % | 0.76 | % | 0.75 | % | 0.75 | % | ||||||||||||
Net investment income (loss)* | 2.51 | % | 1.29 | % | 2.39 | % | 1.32 | % | 1.45 | % | ||||||||||||
Portfolio turnover rate(f) | 235 | % | 199 | % | 325 | % | 182 | % | 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) | 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) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to May 31, 2016, the closing price listed on the NYSE Arca was used. |
(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. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Merger Arbitrage ETF | ||||||||||||||||||||||
For the Year Ended April 30, | ||||||||||||||||||||||
2018 | 2017 | 2016 | 2015 | 2014 | ||||||||||||||||||
Net asset value, beginning of year | $ | 30.21 | $ | 28.44 | $ | 28.92 | $ | 27.09 | $ | 25.60 | ||||||||||||
Income from Investment Operations | ||||||||||||||||||||||
Net investment income*(a) | 0.10 | 0.24 | (b) | 0.02 | 0.04 | 0.03 | ||||||||||||||||
Net realized and unrealized gain (loss) | 0.41 | ** | 1.59 | (0.25 | ) | 1.79 | 1.72 | |||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 0.51 | 1.83 | (0.23 | ) | 1.83 | 1.75 | ||||||||||||||||
Distributions from: | ||||||||||||||||||||||
Net investment income | — | (0.06 | ) | (0.25 | ) | — | (0.26 | ) | ||||||||||||||
Net asset value, end of year | $ | 30.72 | $ | 30.21 | $ | 28.44 | $ | 28.92 | $ | 27.09 | ||||||||||||
Market price, end of year | $ | 30.75 | $ | 30.27 | $ | 28.51 | $ | 28.97 | ||||||||||||||
Total Return | ||||||||||||||||||||||
Total investment return based on net asset value(c) | 1.69 | % | 6.45 | % | (0.79 | )% | 6.76 | % | 6.88 | % | ||||||||||||
Total investment return based on Market price(d) | 1.59 | % | 6.39 | % | (0.73 | )% | 6.31 | % | ||||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 525,386 | $ | 188,833 | $ | 139,367 | $ | 121,447 | $ | 33,862 | ||||||||||||
Ratio to average net assets of: | ||||||||||||||||||||||
Expenses(e) | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | 0.75 | % | ||||||||||||
Net investment income (loss)* | 0.34 | % | 0.82 | %(b) | 0.09 | % | 0.14 | % | 0.13 | % | ||||||||||||
Portfolio turnover rate(f) | 329 | % | 268 | % | 272 | % | 447 | % | 353 | % |
* | 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. |
** | Calculation of the net realized and unrealized gain (loss) per share does not correlate with the Fund’s net realized and unrealized gain (loss) presented on the Statements of Changes in Net Assets due to the timing of creation of Fund shares in relation to fluctuating market values. |
(a) | Based on average shares outstanding. |
(b) | 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. |
(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) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to May 31, 2016, the closing price listed on the NYSE Arca was used. |
(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. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Real Return ETF | ||||||||||||||||||||||
For the Year Ended April 30, | ||||||||||||||||||||||
2018 | 2017 | 2016 | 2015 | 2014 | ||||||||||||||||||
Net asset value, beginning of year | $ | 27.25 | $ | 26.73 | $ | 26.70 | $ | 26.33 | $ | 26.50 | ||||||||||||
Income from Investment Operations | ||||||||||||||||||||||
Net investment income(a)* | 0.30 | 0.22 | 0.09 | 0.05 | 0.09 | |||||||||||||||||
Net realized and unrealized gain (loss) | 0.21 | 0.30 | (0.06 | ) | 0.35 | (0.23 | ) | |||||||||||||||
Distributions of net realized gains from investments in other investment companies | 0.00 | (b) | 0.00 | (b) | — | — | — | |||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 0.51 | 0.52 | 0.03 | 0.40 | (0.14 | ) | ||||||||||||||||
Distributions from: | ||||||||||||||||||||||
Net investment income | (0.29 | ) | — | (0.00 | )(c) | (0.03 | ) | (0.03 | ) | |||||||||||||
Net asset value, end of year | $ | 27.47 | $ | 27.25 | $ | 26.73 | $ | 26.70 | $ | 26.33 | ||||||||||||
Market price, end of year | $ | 27.47 | $ | 27.27 | $ | 26.72 | $ | 26.81 | ||||||||||||||
Total Return | ||||||||||||||||||||||
Total investment return based on net asset value(d) | 1.89 | % | 1.94 | % | 0.11 | % | 1.50 | % | (0.54 | )% | ||||||||||||
Total investment return based on Market price(e) | 1.81 | % | 2.06 | % | (0.32 | )% | 1.96 | % | ||||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 45,319 | $ | 28,608 | $ | 26,727 | $ | 28,031 | $ | 26,329 | ||||||||||||
Ratio to average net assets of: | ||||||||||||||||||||||
Expenses(f) | 0.49 | % | 0.49 | % | 0.49 | % | 0.48 | % | 0.48 | % | ||||||||||||
Net investment income (loss)* | 1.10 | % | 0.82 | % | 0.33 | % | 0.18 | % | 0.36 | % | ||||||||||||
Portfolio turnover rate(g) | 101 | % | 71 | % | 109 | % | �� | 91 | % | 45 | % |
* | 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) | Greater 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) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to May 31, 2016, the closing price listed on the NYSE Arca was used. |
(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. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Global Agribusiness Small Cap ETF | ||||||||||||||||||||||
For the Year Ended April 30, | ||||||||||||||||||||||
2018 | 2017 | 2016 | 2015 | 2014 | ||||||||||||||||||
Net asset value, beginning of year | $ | 32.99 | $ | 30.12 | $ | 27.26 | $ | 26.92 | $ | 26.41 | ||||||||||||
Income from Investment Operations | ||||||||||||||||||||||
Net investment income(a)* | 0.27 | 0.31 | 0.41 | 0.31 | 0.35 | |||||||||||||||||
Net realized and unrealized gain (loss) | 0.97 | 2.94 | 2.82 | 0.44 | 0.58 | |||||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 1.24 | 3.25 | 3.23 | 0.75 | 0.93 | |||||||||||||||||
Distributions from: | ||||||||||||||||||||||
Net investment income | (0.31 | ) | (0.38 | ) | (0.37 | ) | (0.41 | ) | (0.42 | ) | ||||||||||||
Net asset value, end of year | $ | 33.92 | $ | 32.99 | $ | 30.12 | $ | 27.26 | $ | 26.92 | ||||||||||||
Market price, end of year | $ | 33.84 | $ | 33.05 | $ | 29.52 | $ | 27.27 | ||||||||||||||
Total Return | ||||||||||||||||||||||
Total investment return based on net asset value(b) | 3.75 | % | 10.86 | % | 11.93 | % | 2.92 | % | 3.50 | % | ||||||||||||
Total investment return based on Market price(c) | 3.30 | % | 13.32 | % | 9.66 | % | 3.15 | % | ||||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 11,873 | $ | 13,195 | $ | 12,047 | $ | 13,630 | $ | 25,572 | ||||||||||||
Ratio to average net assets of: | ||||||||||||||||||||||
Expenses(d) | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | 0.75 | % | ||||||||||||
Net investment income (loss)* | 0.79 | % | 0.99 | % | 1.48 | % | 1.16 | % | 1.29 | % | ||||||||||||
Portfolio turnover rate(e) | 11 | % | 35 | % | 31 | % | 33 | % | 25 | % |
* | 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) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to May 31, 2016, the closing price listed on the NYSE Arca was used. |
(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. |
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 | ||||||||||||||||||||||
For the Year Ended April 30, | ||||||||||||||||||||||
2018 | 2017 | 2016 | 2015 | 2014 | ||||||||||||||||||
Net asset value, beginning of year | $ | 27.14 | $ | 25.14 | $ | 26.77 | $ | 25.44 | $ | 27.07 | ||||||||||||
Income from Investment Operations | ||||||||||||||||||||||
Net investment income(a)* | 0.88 | 0.71 | 0.90 | 1.07 | 1.22 | |||||||||||||||||
Net realized and unrealized gain (loss) | (2.53 | ) | 2.88 | (1.09 | ) | 1.57 | (0.96 | ) | ||||||||||||||
Distributions of net realized gains from investments in other investment companies | — | 0.00 | (b) | — | — | — | ||||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | (1.65 | ) | 3.59 | (0.19 | ) | 2.64 | 0.26 | |||||||||||||||
Distributions from: | ||||||||||||||||||||||
Net investment income | (0.85 | ) | (0.71 | ) | (0.88 | ) | (1.04 | ) | (1.24 | ) | ||||||||||||
Return of capital | (0.50 | ) | (0.88 | ) | (0.56 | ) | (0.27 | ) | (0.65 | ) | ||||||||||||
Total distributions from net investment income and return of capital | (1.35 | ) | (1.59 | ) | (1.44 | ) | (1.31 | ) | (1.89 | ) | ||||||||||||
Net asset value, end of year | $ | 24.14 | $ | 27.14 | $ | 25.14 | $ | 26.77 | $ | 25.44 | ||||||||||||
Market price, end of year | $ | 24.12 | $ | 27.15 | $ | 25.10 | $ | 26.82 | ||||||||||||||
Total Return | ||||||||||||||||||||||
Total investment return based on net asset value(c) | (6.37 | )% | 14.60 | % | (0.51 | )% | 10.44 | % | 1.65 | % | ||||||||||||
Total investment return based on Market price(d) | (6.49 | )% | 14.79 | % | (0.83 | )% | 10.51 | % | ||||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 82,089 | $ | 114,001 | $ | 76,663 | $ | 95,048 | $ | 52,146 | ||||||||||||
Ratio to average net assets of: | ||||||||||||||||||||||
Expenses(e) | 0.70 | % | 0.70 | % | 0.70 | % | 0.69 | % | 0.69 | % | ||||||||||||
Net investment income (loss)* | 3.36 | % | 2.64 | % | 3.62 | % | 3.97 | % | 4.91 | % | ||||||||||||
Portfolio turnover rate(f) | 27 | % | 28 | % | 28 | % | 17 | % | 35 | % |
* | 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) | 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) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to May 31, 2016, the closing price listed on the NYSE Arca was used. |
(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. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ 50 Percent Hedged FTSE International ETF | ||||||||||||||
For the Year Ended April 30, | For the Period July 22, 2015(a) to April 30, 2016 | |||||||||||||
2018 | 2017 | |||||||||||||
Net asset value, beginning of period | $ | 19.68 | $ | 17.68 | $ | 19.94 | ||||||||
Income from Investment Operations | ||||||||||||||
Net investment income(b)* | 0.60 | 0.46 | 0.37 | |||||||||||
Net realized and unrealized gain (loss) | 1.89 | 2.18 | (2.42 | ) | ||||||||||
Net increase (decrease) in net assets resulting from investment operations | 2.49 | 2.64 | (2.05 | ) | ||||||||||
Distributions from: | ||||||||||||||
Net investment income | (0.54 | ) | (0.44 | ) | (0.21 | ) | ||||||||
Net realized gain | 0.00 | (c) | (0.20 | ) | — | |||||||||
Total distributions from net investment income and realized gains | (0.54 | ) | (0.64 | ) | (0.21 | ) | ||||||||
Net asset value, end of period | $ | 21.63 | $ | 19.68 | $ | 17.68 | ||||||||
Market price, end of period | $ | 21.60 | $ | 19.75 | $ | 17.59 | ||||||||
Total Return | ||||||||||||||
Total investment return based on net asset value(d) | 12.84 | % | 15.29 | % | (10.33 | )% | ||||||||
Total investment return based on Market price(e) | 12.28 | % | 16.28 | % | (10.77 | )%(f) | ||||||||
Ratios/Supplemental Data | ||||||||||||||
Net assets, end of period (000’s omitted) | $ | 578,517 | $ | 208,595 | $ | 76,010 | ||||||||
Ratio to average net assets of: | ||||||||||||||
Expenses net of waivers/reimbursements(g) | 0.22 | % | 0.36 | % | 0.36 | %(h) | ||||||||
Expenses excluding waivers/reimbursements(g) | 0.36 | % | 0.36 | % | 0.36 | %(h) | ||||||||
Net investment income (loss)* | 2.87 | % | 2.55 | % | 2.71 | %(h) | ||||||||
Portfolio turnover rate(i) | 10 | % | 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) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to May 31, 2016, the closing price listed on the NYSE Arca was used. |
(f) | 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. |
(g) | Excludes expenses incurred by the underlying investments in other funds. |
(h) | Annualized. |
(i) | 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. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ 50 Percent Hedged FTSE Europe ETF | ||||||||||||||
For the Year Ended April 30, | For the Period July 22, 2015(a) to April 30, 2016 | |||||||||||||
2018 | 2017 | |||||||||||||
Net asset value, beginning of period | $ | 18.82 | $ | 17.63 | $ | 19.90 | ||||||||
Income from Investment Operations | ||||||||||||||
Net investment income(b)* | 0.53 | 0.62 | 0.36 | |||||||||||
Net realized and unrealized gain (loss) | 1.43 | 1.96 | (2.41 | ) | ||||||||||
Net increase (decrease) in net assets resulting from investment operations | 1.96 | 2.58 | (2.05 | ) | ||||||||||
Distributions from: | ||||||||||||||
Net investment income | (0.45 | ) | (0.63 | ) | (0.22 | ) | ||||||||
Net realized gain | — | (0.76 | ) | — | ||||||||||
Total distributions from net investment income and realized gains | (0.45 | ) | (1.39 | ) | (0.22 | ) | ||||||||
Net asset value, end of period | $ | 20.33 | $ | 18.82 | $ | 17.63 | ||||||||
Market price, end of period | $ | 20.24 | $ | 18.90 | $ | 17.82 | ||||||||
Total Return | ||||||||||||||
Total investment return based on net asset value(c) | 10.58 | % | 15.48 | % | (10.33 | )% | ||||||||
Total investment return based on Market price(d) | 9.59 | % | 14.78 | % | (9.38 | )%(e) | ||||||||
Ratios/Supplemental Data | ||||||||||||||
Net assets, end of period (000’s omitted) | $ | 168,737 | $ | 81,845 | $ | 46,724 | ||||||||
Ratio to average net assets of: | ||||||||||||||
Expenses net of waivers/reimbursements(f) | 0.32 | % | 0.46 | % | 0.46 | %(g) | ||||||||
Expenses excluding waivers/reimbursements(f) | 0.46 | % | 0.46 | % | 0.46 | %(g) | ||||||||
Net investment income (loss)* | 2.68 | % | 3.52 | % | 2.65 | %(g) | ||||||||
Portfolio turnover rate(h) | 10 | % | 14 | % | 10 | % |
* | 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) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to May 31, 2016, the closing price listed on the NYSE Arca was used. |
(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. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ 50 Percent Hedged FTSE Japan ETF | ||||||||||||||
For the Year Ended April 30, | For the Period July 22, 2015(a) to April 30, 2016 | |||||||||||||
2018 | 2017 | |||||||||||||
Net asset value, beginning of period | $ | 19.13 | $ | 17.33 | $ | 20.16 | ||||||||
Income from Investment Operations | ||||||||||||||
Net investment income(b)* | 0.34 | 0.27 | 0.27 | |||||||||||
Net realized and unrealized gain (loss) | 3.30 | 1.95 | (3.10 | ) | ||||||||||
Net increase (decrease) in net assets resulting from investment operations | 3.64 | 2.22 | (2.83 | ) | ||||||||||
Distributions from: | ||||||||||||||
Net investment income | (0.35 | ) | (0.42 | ) | — | |||||||||
Net asset value, end of period | $ | 22.42 | $ | 19.13 | $ | 17.33 | ||||||||
Market price, end of period | $ | 22.30 | $ | 19.16 | $ | 17.83 | ||||||||
Total Return | ||||||||||||||
Total investment return based on net asset value(c) | 19.11 | % | 13.18 | % | (14.05 | )% | ||||||||
Total investment return based on Market price(d) | 18.29 | % | 10.17 | % | (11.56 | )%(e) | ||||||||
Ratios/Supplemental Data | ||||||||||||||
Net assets, end of period (000’s omitted) | $ | 34,746 | $ | 27,740 | $ | 25,125 | ||||||||
Ratio to average net assets of: | ||||||||||||||
Expenses net of waivers/reimbursements(f) | 0.33 | % | 0.46 | % | 0.46 | %(g) | ||||||||
Expenses excluding waivers/reimbursements(f) | 0.46 | % | — | % | — | %(g) | ||||||||
Net investment income (loss)* | 1.61 | % | 1.53 | % | 1.85 | %(g) | ||||||||
Portfolio turnover rate(h) | 6 | % | 15 | % | 11 | % |
* | 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) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to May 31, 2016, the closing price listed on the NYSE Arca was used. |
(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. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Leaders GTAA Tracker ETF | ||||||||||||||
For the Year Ended April 30, | For the Period September 30, 2015(a) to April 30, 2016 | |||||||||||||
2018 | 2017 | |||||||||||||
Net asset value, beginning of period | $ | 22.83 | $ | 20.96 | $ | 20.00 | ||||||||
Income from Investment Operations | ||||||||||||||
Net investment income(b)* | 0.58 | 0.48 | 0.26 | |||||||||||
Net realized and unrealized gain (loss) | 1.32 | 1.80 | 0.78 | |||||||||||
Distributions of net realized gains from investments in other investment companies | 0.00 | (c) | 0.00 | (c) | 0.06 | |||||||||
Net increase (decrease) in net assets resulting from investment operations | 1.90 | 2.28 | 1.10 | |||||||||||
Distributions from: | ||||||||||||||
Net investment income | (0.60 | ) | (0.41 | ) | (0.14 | ) | ||||||||
Net asset value, end of period | $ | 24.13 | $ | 22.83 | $ | 20.96 | ||||||||
Market price, end of period | $ | 24.14 | $ | 22.84 | $ | 20.21 | ||||||||
Total Return | ||||||||||||||
Total investment return based on net asset value(d) | 8.43 | % | 10.99 | % | 5.50 | % | ||||||||
Total investment return based on Market price(e) | 8.40 | % | 15.18 | % | 1.72 | %(f) | ||||||||
Ratios/Supplemental Data | ||||||||||||||
Net assets, end of period (000’s omitted) | $ | 49,473 | $ | 34,240 | $ | 2,096 | ||||||||
Ratio to average net assets of: | ||||||||||||||
Expenses(g) | 0.46 | % | 0.46 | % | 0.46 | %(h) | ||||||||
Net investment income (loss)* | 2.43 | % | 2.23 | % | 2.18 | %(h) | ||||||||
Portfolio turnover rate(i) | 145 | % | 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) | 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) | The market price returns are calculated using the mean between the last bid and ask prices. Prior to May 31, 2016, the closing price listed on the NYSE Arca was used. |
(f) | 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. |
(g) | Excludes expenses incurred by the underlying investments in other funds. |
(h) | Annualized. |
(i) | 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. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Enhanced Core Bond U.S. ETF | ||||||||||
For the Year Ended April 30, 2018 | For the Period May 10, 2016(a) to April 30, 2017 | |||||||||
Net asset value, beginning of period | $ | 19.53 | $ | 20.00 | ||||||
Income from Investment Operations | ||||||||||
Net investment income(b)* | 0.45 | 0.41 | ||||||||
Net realized and unrealized gain (loss) | (0.95 | ) | (0.49 | ) | ||||||
Distributions of net realized gains from investments in other investment companies | — | 0.01 | ||||||||
Net increase (decrease) in net assets resulting from investment operations | (0.50 | ) | (0.07 | ) | ||||||
Distributions from: | ||||||||||
Net investment income | (0.45 | ) | (0.40 | ) | ||||||
Net asset value, end of period | $ | 18.58 | $ | 19.53 | ||||||
Market price, end of period | $ | 18.57 | $ | 19.54 | ||||||
Total Return | ||||||||||
Total investment return based on net asset value(c) | (2.66 | )% | (0.31 | )% | ||||||
Total investment return based on Market price(d) | (2.71 | )% | (0.29 | )%(e) | ||||||
Ratios/Supplemental Data | ||||||||||
Net assets, end of period (000’s omitted) | $ | 51,082 | $ | 74,232 | ||||||
Ratio to average net assets of: | ||||||||||
Expenses net of waivers/reimbursements(f) | 0.21 | % | 0.20 | %(g) | ||||||
Expenses excluding waivers/reimbursements(f) | 0.26 | % | 0.25 | %(g) | ||||||
Net investment income (loss)* | 2.32 | % | 2.14 | %(g) | ||||||
Portfolio turnover rate(h) | 264 | % | 265 | % |
* | 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) | The market price returns are calculated using the mean between the last bid and ask prices. |
(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. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Enhanced Core Plus Bond U.S. ETF | ||||||||||
For the Year Ended April 30, 2018 | For the Period May 10, 2016(a) to April 30, 2017 | |||||||||
Net asset value, beginning of period | $ | 19.98 | $ | 20.00 | ||||||
Income from Investment Operations | ||||||||||
Net investment income(b)* | 0.61 | 0.53 | ||||||||
Net realized and unrealized gain (loss) | (0.88 | ) | (0.03 | ) | ||||||
Distributions of net realized gains from investments in other investment companies | — | 0.01 | ||||||||
Net increase (decrease) in net assets resulting from investment operations | (0.27 | ) | 0.51 | |||||||
Distributions from: | ||||||||||
Net investment income | (0.62 | ) | (0.53 | ) | ||||||
Net asset value, end of period | $ | 19.09 | $ | 19.98 | ||||||
Market price, end of period | $ | 19.07 | $ | 19.99 | ||||||
Total Return | ||||||||||
Total investment return based on net asset value(c) | (1.44 | )% | 2.57 | % | ||||||
Total investment return based on Market price(d) | (1.56 | )% | 2.61 | %(e) | ||||||
Ratios/Supplemental Data | ||||||||||
Net assets, end of period (000’s omitted) | $ | 333,990 | $ | 230,787 | ||||||
Ratio to average net assets of: | ||||||||||
Expenses net of waivers/reimbursements(f) | 0.21 | % | 0.20 | %(g) | ||||||
Expenses excluding waivers/reimbursements(f) | 0.26 | % | 0.25 | %(g) | ||||||
Net investment income (loss)* | 3.09 | % | 2.73 | %(g) | ||||||
Portfolio turnover rate(h) | 269 | % | 147 | % |
* | 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) | The market price returns are calculated using the mean between the last bid and ask prices. |
(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. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ S&P High Yield Low Volatility Bond ETF | ||||||||||
For the Year Ended April 30, 2018 | For the Period February 15, 2017(a) to April 30, 2017 | |||||||||
Net asset value, beginning of period | $ | 25.20 | $ | 25.00 | ||||||
Income from Investment Operations | ||||||||||
Net investment income(b)* | 0.99 | 0.20 | ||||||||
Net realized and unrealized gain (loss) | (0.88 | ) | 0.10 | |||||||
Net increase (decrease) in net assets resulting from investment operations | 0.11 | 0.30 | ||||||||
Distributions from: | ||||||||||
Net investment income | (0.95 | ) | (0.10 | ) | ||||||
Net asset value, end of period | $ | 24.36 | $ | 25.20 | ||||||
Market price, end of period | $ | 24.32 | $ | 25.34 | ||||||
Total Return | ||||||||||
Total investment return based on net asset value(c) | 0.39 | % | 1.40 | % | ||||||
Total investment return based on Market price(d) | (0.36 | )% | 1.93 | %(e) | ||||||
Ratios/Supplemental Data | ||||||||||
Net assets, end of period (000’s omitted) | $ | 107,192 | $ | 49,145 | ||||||
Ratio to average net assets of: | ||||||||||
Expenses net of waivers/reimbursements(f) | 0.40 | % | 0.40 | %(g) | ||||||
Expenses excluding waivers/reimbursements(f) | 0.41 | % | 0.41 | %(g) | ||||||
Net investment income (loss)* | 3.97 | % | 4.05 | %(g) | ||||||
Portfolio turnover rate(h) | 75 | % | 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) | The market price returns are calculated using the mean between the last bid and ask prices. |
(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. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Chaikin U.S. Small Cap ETF | ||||||
For the Period May 16, 2017(a) to April 30, 2018 | ||||||
Net asset value, beginning of period | $ 25.16 | |||||
Income from Investment Operations | ||||||
Net investment income(b)* | 0.16 | |||||
Net realized and unrealized gain (loss) | 1.93 | |||||
Net increase (decrease) in net assets resulting from investment operations | 2.09 | |||||
Distributions from: | ||||||
Net investment income | (0.12 | ) | ||||
Net asset value, end of period | $ 27.13 | |||||
Market price, end of period | $ 27.14 | |||||
Total Return | ||||||
Total investment return based on net asset value(c) | 8.33 | % | ||||
Total investment return based on Market price(d) | 8.36 | %(e) | ||||
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $465,347 | |||||
Ratio to average net assets of: | ||||||
Expenses net of waivers/reimbursements(f) | 0.35 | %(g) | ||||
Expenses excluding waivers/reimbursements(f) | 0.36 | %(g) | ||||
Net investment income (loss)* | 0.61 | %(g) | ||||
Portfolio turnover rate(h) | 106 | % |
* | 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) | The market price returns are calculated using the mean between the last bid and ask prices. |
(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. |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ Chaikin U.S. Large Cap ETF | ||||||
For the Period December 13, 2017(a) to April 30, 2018 | ||||||
Net asset value, beginning of period | $ 25.05 | |||||
Income from Investment Operations | ||||||
Net investment income(b)* | 0.15 | |||||
Net realized and unrealized gain (loss) | 0.18 | ** | ||||
Net increase (decrease) in net assets resulting from investment operations | 0.33 | |||||
Distributions from: | ||||||
Net investment income | (0.08 | ) | ||||
Net asset value, end of period | $ 25.30 | |||||
Market price, end of period | $ 25.30 | |||||
Total Return | ||||||
Total investment return based on net asset value(c) | 1.31 | % | ||||
Total investment return based on Market price(d) | 1.32 | %(e) | ||||
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $320,000 | |||||
Ratio to average net assets of: | ||||||
Expenses net of waivers/reimbursements(f) | 0.25 | %(g) | ||||
Expenses excluding waivers/reimbursements(f) | 0.26 | %(g) | ||||
Net investment income (loss)* | 1.59 | %(g) | ||||
Portfolio turnover rate(h) | 94 | % |
* | 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. |
** | Calculation of the net realized and unrealized gain (loss) per share does not correlate with the Fund’s net realized and unrealized gain (loss) presented on the Statements of Changes in Net Assets due to the timing of creation of Fund shares in relation to fluctuating market values. |
(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) | The market price returns are calculated using the mean between the last bid and ask prices. |
(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. |
See notes to financial statements.
Funds | Diversification Policy | Commencement of Operations Date | ||||
IQ Hedge Multi-Strategy Tracker ETF* | Diversified | March 25, 2009 | ||||
IQ Hedge Macro Tracker ETF* | Diversified | June 9, 2009 | ||||
IQ Hedge Market Neutral Tracker ETF* | Diversified | October 4, 2012 | ||||
IQ Hedge Long/Short Tracker ETF* | Diversified | March 24, 2015 | ||||
IQ Hedge Event-Driven Tracker ETF* | Diversified | March 24, 2015 | ||||
IQ Global Resources ETF | Non-diversified | October 27, 2009 | ||||
IQ Merger Arbitrage ETF | Non-diversified | November 17, 2009 | ||||
IQ Real Return ETF* | Non-Diversified | October 27, 2009 | ||||
IQ Global Agribusiness Small Cap ETF | Non-diversified | March 22, 2011 | ||||
IQ U.S. Real Estate Small Cap ETF | Non-diversified | June 14, 2011 | ||||
IQ 50 Percent Hedged FTSE International ETF | Non-diversified | July 22, 2015 | ||||
IQ 50 Percent Hedged FTSE Europe ETF | Non-diversified | July 22, 2015 | ||||
IQ 50 Percent Hedged FTSE Japan ETF | Non-diversified | July 22, 2015 | ||||
IQ Leaders GTAA Tracker ETF* | Diversified | September 30, 2015 | ||||
IQ Enhanced Core Bond U.S. ETF* | Non-diversified | May 10, 2016 | ||||
IQ Enhanced Core Plus Bond U.S. ETF* | Non-diversified | May 10, 2016 | ||||
IQ S&P High Yield Low Volatility Bond ETF | Non-diversified | February 15, 2017 | ||||
IQ Chaikin U.S. Small Cap ETF | Diversified | May 16, 2017 | ||||
IQ Chaikin U.S. Large Cap ETF | Diversified | December 13, 2017 |
* | Funds are “funds of funds”, meaning that they see to achieve their investment objective by investing primarily in underlying funds, including ETFs, exchange-traded notes (“ETNs”), and other exchange-traded vehicles issuing equity securities organized in the U.S., such as exchange traded commodity pools (“ETVs”), and may include exchange-traded notes (“ETNs”) (such ETFs, ETVs and ETNs are referred to collectively as “exchange-traded products” or “ETPs”). |
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 Global Agribusiness Small Cap ETF | IQ Global Agribusiness 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 | |||
IQ Chaikin U.S. Small Cap ETF | NASDAQ Chaikin Power U.S. Small Cap Index | |||
IQ Chaikin U.S. Large Cap ETF | NASDAQ Chaikin Power U.S. Large Cap Index |
Notes to Financial Statements (continued)
April 30, 2018
Notes to Financial Statements (continued)
April 30, 2018
Notes to Financial Statements (continued)
April 30, 2018
• | 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. |
• | 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, 2018
the Funds may determine to distribute at least annually amounts representing the full dividend yield net of expenses on the underlying investment securities, as if the Funds owned the underlying investment securities for the entire dividend period in which case some portion of each distribution may result in a return of capital. The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with Federal income tax regulations which may differ from GAAP. These “book/tax” differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their Federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions, which exceed earnings and profit for tax purposes are reported as a tax return of capital. Therefore, no federal, state and local income tax provisions are required.
Notes to Financial Statements (continued)
April 30, 2018
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 is distributed monthly and capital gains are typically distributed at least annually. 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.
Notes to Financial Statements (continued)
April 30, 2018
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 | $ | 140,959,766 | $ | 3,746,383 | $ | 3,068,258 | $ | 29,743,184 | $ | 36,557,825 | |||||||||||||
IQ Hedge Macro Tracker ETF | 1,906,306 | 38,633 | 31,726 | 170,023 | 240,382 | ||||||||||||||||||
IQ Hedge Market Neutral Tracker ETF | 1,911,647 | — | — | — | — | ||||||||||||||||||
IQ Hedge Long/Short Tracker ETF | 1,040,224 | — | — | — | — | ||||||||||||||||||
IQ Hedge Event-Driven Tracker ETF | 1,021,562 | 1,056 | 165 | 15,104 | 16,325 | ||||||||||||||||||
IQ Global Resources ETF | 4,839,696 | 981,635 | 96,949 | 15,653,049 | 16,731,633 | ||||||||||||||||||
IQ Merger Arbitrage ETF | 26,324,770 | — | 88,022 | 23,500,673 | 23,588,695 | ||||||||||||||||||
IQ Real Return ETF | 2,070,277 | 5,219 | 60,454 | 5,326,454 | 5,392,127 | ||||||||||||||||||
IQ Global Agribusiness Small Cap ETF | 246,668 | — | 2,544 | 535,947 | 538,491 | ||||||||||||||||||
IQ U.S. Real Estate Small Cap ETF | 3,865,903 | 795,645 | 138,636 | 18,698,798 | 19,633,079 | ||||||||||||||||||
IQ 50 Percent Hedged FTSE International ETF | 9,366,228 | — | 317 | 2,519,469 | 2,519,786 | ||||||||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 4,501,909 | — | — | — | — | ||||||||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 36,157 | — | 468 | 223,430 | 223,898 | ||||||||||||||||||
IQ Leaders GTAA Tracker ETF | 7,739,673 | 9,792 | 9,690 | 572,130 | 591,612 | ||||||||||||||||||
IQ Enhanced Core Bond U.S. ETF | 528,755 | — | — | — | — | ||||||||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 73,354,896 | 133,515 | 31,824 | 3,171,830 | 3,337,169 | ||||||||||||||||||
IQ Chaikin U.S. Small Cap ETF | 4,391,432 | 7,695 | 244,833 | 16,409,306 | 16,661,834 |
Notes to Financial Statements (continued)
April 30, 2018
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 |
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 | $ | 173,134,325 | $ | (173,134,325 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||
IQ Hedge Macro Tracker ETF | 2,096,159 | (2,096,159 | ) | — | — | — | — | |||||||||||||||||||
IQ Hedge Market Neutral Tracker ETF | 1,865,262 | (1,865,262 | ) | — | — | — | — | |||||||||||||||||||
IQ Hedge Long/Short Tracker ETF | 1,017,227 | (1,017,227 | ) | — | — | — | — | |||||||||||||||||||
IQ Hedge Event-Driven Tracker ETF | 1,013,117 | (1,013,117 | ) | — | — | — | — | |||||||||||||||||||
IQ Global Resources ETF | 20,754,674 | (20,754,674 | ) | — | — | — | — | |||||||||||||||||||
IQ Merger Arbitrage ETF | 49,063,687 | (49,063,687 | ) | — | — | — | — | |||||||||||||||||||
IQ Real Return ETF | 7,265,170 | (7,265,170 | ) | — | — | — | — | |||||||||||||||||||
IQ Global Agribusiness Small Cap ETF | 740,685 | (740,685 | ) | — | — | — | — | |||||||||||||||||||
IQ U.S. Real Estate Small Cap ETF | 22,892,721 | (22,892,721 | ) | — | — | — | — | |||||||||||||||||||
IQ 50 Percent Hedged FTSE International ETF | 11,269,536 | (11,269,536 | ) | — | — | — | — | |||||||||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 4,262,780 | (4,262,780 | ) | — | — | — | — | |||||||||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 246,157 | (246,157 | ) | — | — | — | — | |||||||||||||||||||
IQ Leaders GTAA Tracker ETF | 8,117,227 | (8,117,227 | ) | — | — | — | — | |||||||||||||||||||
IQ Enhanced Core Bond U.S. ETF | 518,694 | (518,694 | ) | — | — | — | — | |||||||||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 74,895,524 | (74,895,524 | ) | — | — | — | — | |||||||||||||||||||
IQ S&P High Yield Low Volatility Bond ETF | — | — | — | — | — | — | ||||||||||||||||||||
IQ Chaikin U.S. Small Cap ETF | 20,440,510 | (20,440,510 | ) | — | — | — | — | |||||||||||||||||||
IQ Chaikin U.S. Large Cap ETF | — | — | — | — | — | — |
1 | The amount of collateral presented is limited such that the net amount cannot be less than zero. |
Notes to Financial Statements (continued)
April 30, 2018
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 | $ | 6,337,696 | $ | (233,191 | ) | $ | 6,104,505 | $ | 233,191 | $ | (233,191 | ) | $ | — | ||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | ||||||||||||||||||||||||||
Morgan Stanley | 1,867,569 | (67,332 | ) | 1,800,237 | 67,332 | (67,332 | ) | — | ||||||||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | ||||||||||||||||||||||||||
Merrill Lynch | 523,038 | (21,937 | ) | 501,101 | 21,937 | (21,937 | ) | — |
Notes to Financial Statements (continued)
April 30, 2018
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 Global Agribusiness 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% | |||
IQ Chaikin U.S. Small Cap ETF | 0.35% | |||
IQ Chaikin U.S. Large Cap ETF | 0.25% |
Notes to Financial Statements (continued)
April 30, 2018
Notes to Financial Statements (continued)
April 30, 2018
Fund | Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation/ (Depreciation) | ||||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | $ | 1,238,557,846 | $ | 33,303,948 | ($5,363,103 | ) | $ | 27,940,845 | ||||||||||
IQ Hedge Macro Tracker ETF | 8,330,208 | 213,415 | (47,422 | ) | 165,993 | |||||||||||||
IQ Hedge Market Neutral Tracker ETF | 14,572,268 | 187,910 | (43,539 | ) | 144,371 | |||||||||||||
IQ Hedge Long/Short Tracker ETF | 9,751,204 | 211,980 | (138,594 | ) | 73,386 | |||||||||||||
IQ Hedge Event-Driven Tracker ETF | 4,116,484 | 77,370 | (32,825 | ) | 44,545 | |||||||||||||
IQ Global Resources ETF | 238,932,833 | 10,547,814 | (7,389,954 | ) | 3,157,860 | |||||||||||||
IQ Merger Arbitrage ETF | 557,170,193 | 7,244,881 | (10,863,286 | ) | (3,618,405 | ) | ||||||||||||
IQ Real Return ETF | 47,508,556 | 91,259 | (201,630 | ) | (110,371 | ) | ||||||||||||
IQ Global Agribusiness Small Cap ETF | 10,033,093 | 3,249,305 | (1,199,794 | ) | 2,049,511 | |||||||||||||
IQ U.S. Real Estate Small Cap ETF | 95,971,852 | 5,262,259 | (15,097,960 | ) | (9,835,701 | ) | ||||||||||||
IQ 50 Percent Hedged FTSE International ETF | 558,618,792 | 48,692,326 | (22,495,536 | ) | 26,196,790 | |||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 158,396,142 | 21,074,013 | (5,837,823 | ) | 15,236,190 | |||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 28,434,885 | 6,806,408 | (897,259 | ) | 5,909,149 | |||||||||||||
IQ Leaders GTAA Tracker ETF | 56,884,046 | 991,463 | (626,774 | ) | 364,689 | |||||||||||||
IQ Enhanced Core Bond U.S. ETF | 54,175,061 | — | (2,559,457 | ) | (2,559,457 | ) | ||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 417,841,627 | — | (10,524,587 | ) | (10,524,587 | ) | ||||||||||||
IQ S&P High Yield Low Volatility Bond ETF | 108,535,268 | 1,821 | (2,738,412 | ) | (2,736,591 | ) | ||||||||||||
IQ Chaikin U.S. Small Cap ETF | 466,673,315 | 23,310,595 | (20,212,402 | ) | 3,098,193 | |||||||||||||
IQ Chaikin U.S. Large Cap ETF | 317,065,663 | 10,342,129 | (7,539,466 | ) | 2,802,663 |
Notes to Financial Statements (continued)
April 30, 2018
Fund | Ordinary Income (Loss)1 | Net Capital Gain (Losses)2 | Net Unrealized Appreciation/ Depreciation | Total Earnings/ (Losses) | ||||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | $ | 10,247,100 | $ | (61,272,346 | ) | $ | 27,940,845 | $ | (23,084,401 | ) | ||||||||
IQ Hedge Macro Tracker ETF | 17,396 | (6,033,131 | ) | 165,992 | (5,849,743 | ) | ||||||||||||
IQ Hedge Market Neutral Tracker ETF | — | (451,519 | ) | 144,371 | (307,148 | ) | ||||||||||||
IQ Hedge Long/Short Tracker ETF | 80,048 | (200,430 | ) | 73,386 | (46,996 | ) | ||||||||||||
IQ Hedge Event-Driven Tracker ETF | 45,908 | (49,018 | ) | 44,546 | 41,436 | |||||||||||||
IQ Global Resources ETF | (53,070 | ) | (39,413,523 | ) | 3,155,849 | (36,310,742 | ) | |||||||||||
IQ Merger Arbitrage ETF | (45,213 | ) | (6,270,303 | ) | (3,628,892 | ) | (9,944,408 | ) | ||||||||||
IQ Real Return ETF | 172,756 | (1,478,815 | ) | (110,371 | ) | (1,416,430 | ) | |||||||||||
IQ Global Agribusiness Small Cap ETF | 47,383 | (8,654,158 | ) | 2,048,095 | (6,558,680 | ) | ||||||||||||
IQ U.S. Real Estate Small Cap ETF | — | (3,506,788 | ) | (9,835,701 | ) | (13,342,489 | ) | |||||||||||
IQ 50 Percent Hedged FTSE International ETF | 4,572,887 | (7,719,162 | ) | 26,140,188 | 22,993,913 | |||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 1,283,491 | (4,755,084 | ) | 15,224,495 | 11,752,902 | |||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 344,436 | (1,714,124 | ) | 5,900,812 | 4,531,124 | |||||||||||||
IQ Leaders GTAA Tracker ETF | 202,092 | (1,043,234 | ) | 364,689 | (476,453 | ) | ||||||||||||
IQ Enhanced Core Bond U.S. ETF | — | (3,216,813 | ) | (2,559,457 | ) | (5,776,270 | ) | |||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 14,785 | (8,419,060 | ) | (10,524,587 | ) | (18,928,862 | ) | |||||||||||
IQ S&P High Yield Low Volatility Bond ETF | 368,463 | (1,258,675 | ) | (2,736,591 | ) | (3,626,803 | ) | |||||||||||
IQ Chaikin U.S. Small Cap ETF | 87,868 | (7,595,382 | ) | 3,098,193 | (4,409,321 | ) | ||||||||||||
IQ Chaikin U.S. Large Cap ETF | 245,918 | (5,340,843 | ) | 2,802,663 | (2,292,262 | ) |
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, 2018
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 | $ | (7,940,345 | ) | $ | 3,198,805 | $ | 4,741,540 | |||||||
IQ Hedge Macro Tracker ETF | (71,437 | ) | 131,218 | (59,781 | ) | |||||||||
IQ Hedge Market Neutral Tracker ETF | (44,436 | ) | 96,700 | (52,264 | ) | |||||||||
IQ Hedge Long/Short Tracker ETF | 4,645 | (121,079 | ) | 116,434 | ||||||||||
IQ Hedge Event-Driven Tracker ETF | 840 | (840 | ) | — | ||||||||||
IQ Global Resources ETF | (2,058,158 | ) | 2,799,881 | (741,723 | ) | |||||||||
IQ Merger Arbitrage ETF | 624,939 | (13,553,554 | ) | 12,928,615 | ||||||||||
IQ Real Return ETF | 8,132 | (8,717 | ) | 585 | ||||||||||
IQ Global Agribusiness Small Cap ETF | (1,327 | ) | (432,721 | ) | 434,048 | |||||||||
IQ U.S. Real Estate Small Cap ETF | 1,986,866 | (1,888,207 | ) | (98,659 | ) | |||||||||
IQ 50 Percent Hedged FTSE International ETF | 149,523 | (23,700,266 | ) | 23,550,743 | ||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | (19,637 | ) | 19,637 | — | ||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 3,678 | (302,742 | ) | 299,064 | ||||||||||
IQ Leaders GTAA Tracker ETF | 130,295 | (3,831,136 | ) | 3,700,841 | ||||||||||
IQ Enhanced Core Bond U.S. ETF | 4,770 | 313,081 | (317,851 | ) | ||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | (810 | ) | 919,126 | (918,316 | ) | |||||||||
IQ S&P High Yield Low Volatility Bond ETF | 1,825 | (38,627 | ) | 36,802 | ||||||||||
IQ Chaikin U.S. Small Cap ETF | (17,440 | ) | (13,113,960 | ) | 13,131,400 | |||||||||
IQ Chaikin U.S. Large Cap ETF | — | (128,249 | ) | 128,249 |
Notes to Financial Statements (continued)
April 30, 2018
2018 | 2017 | ||||||||||||||||||||||||||
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 | $ | — | $ | — | ||||||||||||||||
IQ Hedge Macro Tracker ETF | — | — | — | — | — | — | |||||||||||||||||||||
IQ Hedge Market Neutral Tracker ETF | — | — | — | 173,905 | — | — | |||||||||||||||||||||
IQ Hedge Long/Short Tracker ETF | 16,706 | — | — | 5,839 | — | — | |||||||||||||||||||||
IQ Hedge Event-Driven Tracker ETF | 70,341 | — | — | 114,315 | — | — | |||||||||||||||||||||
IQ Global Resources ETF | — | — | — | 676,550 | — | — | |||||||||||||||||||||
IQ Merger Arbitrage ETF | — | — | — | 291,365 | — | — | |||||||||||||||||||||
IQ Real Return ETF | 308,837 | — | — | — | — | — | |||||||||||||||||||||
IQ Global Agribusiness Small Cap ETF | 109,575 | — | — | 171,392 | — | — | |||||||||||||||||||||
IQ U.S. Real Estate Small Cap ETF | 3,563,539 | — | 2,075,765 | 2,277,082 | — | 2,848,754 | |||||||||||||||||||||
IQ 50 Percent Hedged FTSE International ETF | 8,843,710 | — | — | 4,089,859 | 1,235,234 | — | |||||||||||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 3,305,273 | — | — | 2,199,652 | 730,802 | — | |||||||||||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 544,769 | — | — | 614,409 | — | — | |||||||||||||||||||||
IQ Leaders GTAA Tracker ETF | 1,005,870 | — | — | 576,860 | — | — | |||||||||||||||||||||
IQ Enhanced Core Bond U.S. ETF | 1,575,071 | — | — | 1,478,105 | — | — | |||||||||||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 9,263,899 | — | — | 5,319,018 | — | — | |||||||||||||||||||||
IQ S&P High Yield Low Volatility Bond ETF | 3,536,709 | — | — | 181,476 | — | — | |||||||||||||||||||||
IQ Chaikin U.S. Small Cap ETF | 1,436,366 | — | — | — | — | — | |||||||||||||||||||||
IQ Chaikin U.S. Large Cap ETF | 916,233 | — | — | — | — | — |
Notes to Financial Statements (continued)
April 30, 2018
Fund | Late Year Ordinary Losses | Short-Term Post October Losses | Long-Term Post October Losses | |||||||||||
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 | 53,070 | — | — | |||||||||||
IQ Merger Arbitrage ETF | 45,213 | — | — | |||||||||||
IQ Real Return ETF | — | — | — | |||||||||||
IQ Global Agribusiness 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 | — | — | — | |||||||||||
IQ Chaikin U.S. Small Cap ETF | — | — | — | |||||||||||
IQ Chaikin U.S. Large Cap ETF | �� | — | — | — |
Notes to Financial Statements (continued)
April 30, 2018
Fund | Short-Term Expiring April 30, 2019 | Expired Current Year | Utilized on Current Year | Short-Term With No Expiration | Long-Term With No Expiration | |||||||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | $ | 5,603,304 | $ | 841,667 | $ | 8,515,017 | $ | 55,669,042 | $ | — | ||||||||||||
IQ Hedge Macro Tracker ETF | 531,209 | 80,017 | — | 4,282,128 | 1,219,794 | |||||||||||||||||
IQ Hedge Market Neutral Tracker ETF | — | — | 53,283 | 434,184 | 17,335 | |||||||||||||||||
IQ Hedge Long/Short Tracker ETF | — | — | — | 124,930 | 75,500 | |||||||||||||||||
IQ Hedge Event-Driven Tracker ETF | — | — | 25,293 | 34,427 | 14,591 | |||||||||||||||||
IQ Global Resources ETF | — | — | 5,732,096 | 20,217,464 | 19,196,059 | |||||||||||||||||
IQ Merger Arbitrage ETF | — | — | — | 6,270,303 | — | |||||||||||||||||
IQ Real Return ETF | — | — | 602,374 | 720,246 | 758,569 | |||||||||||||||||
IQ Global Agribusiness Small Cap ETF | — | — | — | 2,842,226 | 5,811,932 | |||||||||||||||||
IQ U.S. Real Estate Small Cap ETF | — | — | 627,930 | 1,324,564 | 2,182,224 | |||||||||||||||||
IQ 50 Percent Hedged FTSE International ETF | — | — | — | 3,094,612 | 4,624,550 | |||||||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | — | — | — | 1,708,335 | 3,046,749 | |||||||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | — | — | — | 837,573 | 876,551 | |||||||||||||||||
IQ Leaders GTAA Tracker ETF | — | — | — | 938,698 | 104,536 | |||||||||||||||||
IQ Enhanced Core Bond U.S. ETF | — | — | — | 2,830,081 | 386,732 | |||||||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | — | — | — | 7,652,615 | 766,445 | |||||||||||||||||
IQ S&P High Yield Low Volatility Bond ETF | — | — | — | 1,209,568 | 49,107 | |||||||||||||||||
IQ Chaikin U.S. Small Cap ETF | — | — | — | 7,595,382 | — | |||||||||||||||||
IQ Chaikin U.S. Large Cap ETF | — | — | — | 5,340,843 | — |
Fund | % Ownership | |||||
IQ Hedge Long/Short Tracker ETF | 20.0 | % | ||||
IQ Hedge Event-Driven Tracker ETF | 53.3 | % | ||||
IQ 50 Percent Hedged FTSE Europe ETF | 16.5 | % | ||||
IQ 50 Percent Hedged FTSE Japan ETF | 85.6 | % | ||||
IQ Leaders GTAA Tracker ETF | 69.4 | % | ||||
IQ S&P High Yield Low Volatility Bond ETF | 45.3 | % | ||||
IQ Chaikin U.S. Small Cap ETF | 9.4 | % |
Notes to Financial Statements (continued)
April 30, 2018
Fund | % Ownership | |||||
IQ Global Resources ETF | 54.2 | % | ||||
IQ 50 Percent Hedged FTSE International ETF | 84.3 | % | ||||
IQ 50 Percent Hedged FTSE Europe ETF | 77.2 | % | ||||
IQ Enhanced Core Bond U.S. ETF | 53.7 | % | ||||
IQ Enhanced Core Plus Bond U.S. ETF | 40.5 | % | ||||
IQ S&P High Yield Low Volatility Bond ETF | 40.3 | % | ||||
IQ Chaikin U.S. Small Cap ETF | 54.3 | % | ||||
IQ Chaikin U.S. Large Cap ETF | 93.7 | % |
Fund | Purchases | Sales | Purchases In-Kind | Sales In-Kind | ||||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | 1,805,022,304 | 1,798,111,535 | 125,288,526 | 109,093,429 | ||||||||||||||
IQ Hedge Macro Tracker ETF | 9,947,692 | 9,951,072 | — | — | ||||||||||||||
IQ Hedge Market Neutral Tracker ETF | 19,513,909 | 19,437,543 | 1,272,445 | — | ||||||||||||||
IQ Hedge Long/Short Tracker ETF | 4,361,540 | 4,420,921 | 5,621,340 | 930,277 | ||||||||||||||
IQ Hedge Event-Driven Tracker ETF | 1,281,051 | 1,273,924 | — | — | ||||||||||||||
IQ Global Resources ETF | 436,960,951 | 438,288,381 | 53,982,021 | 12,155,389 | ||||||||||||||
IQ Merger Arbitrage ETF | 968,913,517 | 1,018,487,654 | 525,278,851 | 210,431,882 | ||||||||||||||
IQ Real Return ETF | 30,676,805 | 30,671,960 | 16,545,793 | — | ||||||||||||||
IQ Global Agribusiness Small Cap ETF | 1,370,722 | 1,401,722 | — | 1,700,433 | ||||||||||||||
IQ U.S. Real Estate Small Cap ETF | 28,798,309 | 28,369,941 | 6,772,633 | 26,358,003 | ||||||||||||||
IQ 50 Percent Hedged FTSE International ETF | 58,590,205 | 39,696,522 | 433,543,965 | 117,794,263 | ||||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 14,969,249 | 18,022,270 | 77,113,910 | — | ||||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 1,901,429 | 2,448,504 | 3,190,029 | 1,100,621 | ||||||||||||||
IQ Leaders GTAA Tracker ETF | 58,607,538 | 58,337,020 | 45,563,405 | 32,372,453 | ||||||||||||||
IQ Enhanced Core Bond U.S. ETF | 177,964,051 | 178,053,356 | 7,639,885 | 27,803,436 | ||||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 806,277,726 | 806,717,196 | 221,409,943 | 102,468,243 | ||||||||||||||
IQ S&P High Yield Low Volatility Bond ETF | 104,850,985 | 69,185,861 | 28,140,754 | 2,594,145 | ||||||||||||||
IQ Chaikin U.S. Small Cap ETF | 274,950,148 | 274,132,709 | 513,716,625 | 57,877,122 | ||||||||||||||
IQ Chaikin U.S. Large Cap ETF | 162,511,071 | 162,218,954 | 324,559,736 | 2,573,596 |
Notes to Financial Statements (continued)
April 30, 2018
the Statements of Assets and Liabilities. The change in the value of swaps, including accruals of periodic amounts of interest to be paid or received on swaps, is reported as a change in net unrealized appreciation/depreciation on the Statements of Operations. A realized gain or loss is recorded upon payment or receipt of a periodic payment or payment made upon termination of a swap agreement.
Notes to Financial Statements (continued)
April 30, 2018
the date of the contract agreed upon by the parties, at a price set at the time of the contract. These contracts are traded in the interbank market between currency traders (usually large commercial banks) and their customers. A forward foreign currency contract generally has no deposit requirement, and no commissions are generally charged at any stage for trades.
| Currency Risk | |||||
IQ 50 Percent Hedged FTSE International ETF | ||||||
Unrealized appreciation on forward foreign currency contracts | $ | 6,337,696 | ||||
IQ 50 Percent Hedged FTSE Europe ETF | ||||||
Unrealized appreciation on forward foreign currency contracts | 1,867,569 | |||||
IQ 50 Percent Hedged FTSE Japan ETF | ||||||
Unrealized appreciation on forward foreign currency contracts | 523,038 |
Currency Risk | ||||||
IQ 50 Percent Hedged FTSE International ETF | ||||||
Unrealized depreciation on forward foreign currency contracts | $ | (233,191 | ) | |||
IQ 50 Percent Hedged FTSE Europe ETF | ||||||
Unrealized depreciation on forward foreign currency contracts | (67,332 | ) | ||||
IQ 50 Percent Hedged FTSE Japan ETF | ||||||
Unrealized depreciation on forward foreign currency contracts | (21,937 | ) |
Notes to Financial Statements (continued)
April 30, 2018
Transactions in derivative instruments reflected on the Statements of Operations during the year ended April 30, 2018 as follows:
Fund | Currency Risk | Equity Risk | |||||||||||
IQ Hedge Multi-Strategy Tracker ETF | |||||||||||||
Realized gain (loss) | |||||||||||||
Swap transactions | $ | (11,177,056 | ) | ||||||||||
IQ Hedge Macro Tracker ETF | |||||||||||||
Realized gain (loss) | |||||||||||||
Swap transactions | $ | (80,149 | ) | ||||||||||
IQ Hedge Market Neutral Tracker ETF | |||||||||||||
Realized gain (loss) | |||||||||||||
Swap transactions | $ | (112,528 | ) | ||||||||||
IQ Hedge Long/Short Tracker ETF | |||||||||||||
Realized gain (loss) | |||||||||||||
Swap transactions | $ | 746 | |||||||||||
IQ Hedge Event-Driven Tracker ETF | |||||||||||||
Realized gain (loss) | |||||||||||||
Swap transactions | $ | 884 | |||||||||||
IQ Global Resources ETF | |||||||||||||
Realized gain (loss) | |||||||||||||
Swap transactions | $ | (4,277,493 | ) | ||||||||||
IQ Merger Arbitrage ETF | |||||||||||||
Realized gain (loss) | |||||||||||||
Swap transactions | $ | (6,400,405 | ) | ||||||||||
IQ 50 Percent Hedged FTSE International ETF | |||||||||||||
Realized gain (loss) | |||||||||||||
Forward foreign currency contracts | $ | (13,372,224 | ) | ||||||||||
Change in unrealized appreciation (depreciation) | |||||||||||||
Forward foreign currency contracts | $ | 7,096,109 | |||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | |||||||||||||
Realized gain (loss) | |||||||||||||
Forward foreign currency contracts | $ | (6,308,067 | ) | ||||||||||
Change in unrealized appreciation (depreciation) | |||||||||||||
Forward foreign currency contracts | $ | 2,618,890 | |||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | |||||||||||||
Realized gain (loss) | |||||||||||||
Forward foreign currency contracts | $ | (622,845 | ) | ||||||||||
Change in unrealized appreciation (depreciation) | |||||||||||||
Forward foreign currency contracts | $ | 484,921 | |||||||||||
IQ Leaders GTAA Tracker ETF | |||||||||||||
Realized gain (loss) | |||||||||||||
Swap transactions | $ | 112,014 |
Notes to Financial Statements (continued)
April 30, 2018
Average Notional Value | ||||||||||||||||||||||||||||||||||||||||||||
IQ Hedge | IQ Hedge | IQ Hedge | IQ Hedge | IQ Hedge | IQ Global | IQ Merger | IQ 50 Percent | IQ 50 Percent | IQ 50 Percent | IQ Leaders | ||||||||||||||||||||||||||||||||||
Asset Derivatives | ||||||||||||||||||||||||||||||||||||||||||||
Swap contracts | $ | 177,122,105 | $ | 859,274 | $ | 1,585,694 | $ | 670,789 | $ | 103,149 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 6,316,789 | ||||||||||||||||||||||
Forward foreign currency contracts | — | — | — | — | — | — | — | 602,597,904 | 226,462,694 | 48,767,260 | — | |||||||||||||||||||||||||||||||||
Liability Derivatives | ||||||||||||||||||||||||||||||||||||||||||||
Swap contracts | $ | (176,982,653 | ) | $ | (862,582 | ) | $ | (1,591,937 | ) | $ | (670,342 | ) | $ | (103,011 | ) | $ | (41,305,656 | ) | $ | (89,655,005 | ) | $ | — | $ | — | $ | — | $ | (6,284,539 | ) | ||||||||||||||
Forward foreign currency contracts | — | — | — | — | — | — | — | (603,228,604 | ) | (226,848,468 | ) | (48,780,424 | ) | — |
Notes to Financial Statements (continued)
April 30, 2018
Notes to Financial Statements (continued)
April 30, 2018
Notes to Financial Statements (continued)
April 30, 2018
1 | Applies to IQ 50 Percent Hedged FTSE International ETF, IQ 50 Percent Hedged FTSE Europe ETF, and IQ 50 Percent Hedged FTSE Japan ETF. |
2 | 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. |
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 Global Resources ETF, IQ Merger Arbitrage ETF and IQ Leaders GTAA Tracker ETF. |
4 | Applies to IQ Global Agribusiness Small Cap ETF, IQ U.S. Real Estate Small Cap ETF, and IQ Chaikin U.S. Small Cap ETF. |
5 | 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. |
6 | Applies to IQ Chaikin U.S. Small Cap ETF and IQ Chaikin U.S. Large Cap ETF. |
Report of Independent Registered Public Accounting Firm
April 30, 2018
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 Global Agribusiness Small Cap ETF IQ U.S. Real Estate Small Cap ETF | For the year ended April 30, 2018 | For the years ended April 30, 2018 and 2017 | For the years ended April 30, 2018, 2017, 2016 and 2015 | |||
IQ Hedge Long/Short Tracker ETF IQ Hedge Event-Driven Tracker ETF | For the year ended April 30, 2018 | For the years ended April 30, 2018 and 2017 | For the years ended April 30, 2018, 2017 and 2016, and the period from March 24, 2015 (commencement of operations) to April 30, 2015 | |||
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, 2018 | For the years ended April 30, 2018 and 2017 | For the years ended April 30, 2018 and 2017, and the period from July 22, 2015 (commencement of operations) to April 30, 2016 |
Report of Independent Registered Public Accounting Firm (continued)
April 30, 2018
Individual Fund Comprising the IndexIQ ETF Trust | | Statement of Operations | | Statements of Changes in Net Assets | | Financial Highlights | ||
IQ Leaders GTAA Tracker ETF | For the year ended April 30, 2018 | For the years ended April 30, 2018 and 2017 | For the years ended April 30, 2018 and 2017, and the period from September 30, 2015 (commencement of operations) to April 30, 2016 | |||||
IQ Enhanced Core Bond U.S. ETF IQ Enhanced Core Plus Bond U.S. ETF | For the year ended April 30, 2018 | For the year ended April 30, 2018 and the period from May 10, 2016 (commencement of operations) to April 30, 2017 | ||||||
IQ S&P High Yield Low Volatility Bond ETF | For the year ended April 30, 2018 | For the year ended April 30, 2018 and the period from February 15, 2017 (commencement of operations) to April 30, 2017 | ||||||
IQ Chaikin U.S. Small Cap ETF | For the period from May 16, 2017 (commencement of operations) to April 30, 2018 | |||||||
IQ Chaikin U.S. Large Cap ETF | For the period from December 13, 2017 (commencement of operations) to April 30, 2018 |
New York, New York
June 28, 2018
Supplemental Information (unaudited)
April 30, 2018
IQ Hedge Multi-Strategy Tracker ETF | 0.00 | % | ||||
IQ Hedge Macro Tracker ETF | 0.00 | % | ||||
IQ Hedge Market Neutral Tracker ETF | 0.00 | % | ||||
IQ Hedge Long/Short Tracker ETF | 65.52 | % | ||||
IQ Hedge Event-Driven Tracker ETF | 21.50 | % | ||||
IIQ Global Resources ETF | 0.00 | % | ||||
IQ Merger Arbitrage ETF | 0.00 | % | ||||
IQ Real Return ETF | 7.61 | % | ||||
IQ Global Agribusiness Small Cap ETF | 100.00 | % | ||||
IQ U.S. Real Estate Small Cap ETF | 1.87 | % | ||||
IQ 50 Percent Hedged FTSE International ETF | 81.86 | % | ||||
IQ 50 Percent Hedged FTSE Europe ETF | 83.21 | % | ||||
IQ 50 Percent Hedged FTSE Japan ETF | 89.71 | % | ||||
IQ Leaders GTAA Tracker ETF | 20.63 | % | ||||
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 Chaikin U.S. Small Cap ETF | 100.00 | % | ||||
IQ Chaikin U.S. Large Cap ETF | 67.22 | % |
IQ Hedge Multi-Strategy Tracker ETF | 0.00 | % | ||||
IQ Hedge Macro Tracker ETF. | 0.00 | % | ||||
IQ Hedge Market Neutral Tracker ETF | 0.00 | % | ||||
IQ Hedge Long/Short Tracker ETF | 32.82 | % | ||||
IQ Hedge Event-Driven Tracker ETF | 12.96 | % | ||||
IQ Global Resources ETF | 0.00 | % | ||||
IQ Merger Arbitrage ETF | 0.00 | % | ||||
IQ Real Return ETF | 7.00 | % | ||||
IQ Global Agribusiness Small Cap ETF | 13.40 | % | ||||
IQ U.S. Real Estate Small Cap ETF. | 0.00 | % | ||||
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 | 4.63 | % | ||||
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 Chaikin U.S. Small Cap ETF | 100.00 | % | ||||
IQ Chaikin U.S. Large Cap ETF | 83.75 | % |
Supplemental Information (unaudited) (continued)
April 30, 2018
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 Global Agribusiness Small Cap ETF | 0.0353 | 0.5053 | ||||||||
IQ U.S. Real Estate Small Cap ETF | — | — | ||||||||
IQ 50 Percent Hedged FTSE International ETF | 0.0374 | 0.5002 | ||||||||
IQ 50 Percent Hedged FTSE Europe ETF . | 0.0447 | 0.6004 | ||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 0.0445 | 0.4496 | ||||||||
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 | — | — | ||||||||
IQ Chaikin Small Cap ETF | — | — | ||||||||
IQ Chaikin Large Cap ETF | — | — |
Board Review of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited)
April 30, 2018
1. | The nature, extent and quality of the facilities and services provided by the Advisor and MacKay. The Board reviewed the services that the Advisor and MacKay provide to the respective Funds, noting that they had continually reviewed and overseen such services throughout the past year. The Board noted the responsibilities that the Advisor and MacKay would have as the Funds’ investment adviser and sub-advisor, |
Board Review of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited) (continued)
April 30, 2018
respectively, 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 IQ 500 Funds, the Board considered the services rendered in respect of the existing Funds in assessing services expected to be provided to the IQ 500 Funds. |
The Board reviewed the Advisor’s and MacKay’s experience, resources, and strengths in managing other mutual funds and ETFs, including the Advisor’s management of the existing Funds of the Trust and the funds of the IndexIQ Trust and IndexIQ Active ETF Trust. The Board also considered the experience of MacKay’s team in managing strategies and asset classes similar to the Funds, and their tenure in managing the portfolio of HYLV. The Board also noted and discussed with the Advisor the resources and additional support and personnel from its parent New York Life Investment Management (NYLIM), which resources enhance and support the work of the Advisor’s officers and staff. The Board also considered the tenure and experience of the personnel at the Advisor providing management and administrative services to the Funds, and noted that the Advisor had hired additional experienced personnel to the management and product development teams during the past year. In addition, the Board considered the ongoing expansion of compliance and distribution/sales personnel that support the Funds and the funds of the IndexIQ Trust and the IndexIQ Active ETF Trust. |
Based on their consideration and review of the foregoing information, the Board concluded that each Fund, including each of the IQ 500 Funds, was likely to continue to benefit from the nature, quality, and extent of these services, as well as the Advisor’s and MacKay’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 MacKay and other investment advisers to similar clients, and the cost of the services provided and profits realized by the Advisor and MacKay 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 IQ 500 Funds pursuant to the Advisory Agreement to contracts of other registered investment advisers providing services to similar ETFs. The Board also considered that the Advisor is responsible for payment of the sub-advisory fee to MacKay pursuant to the Sub-Advisory Agreement, and that HYLV shareholders do not directly pay the sub-advisory fee. |
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. The Advisor presented information on how peer groups were selected for the Funds, which generally are differentiated from broad Morningstar categorization based on distinguishing characteristics of many Funds’ core strategies, several of which are unique indexes designed by an affiliate of the Advisor. |
The Board noted that certain Funds had peer groups of limited size and, in certain cases, with substantial differences in portfolio management and operational costs. The Board considered unique characteristics of certain Funds relative to peer groups, particularly where such Funds had fee or total expense rates that diverged from the median levels of the applicable peer group. The Board also discussed price pressure in the general ETF marketplace and the impact of market pressures on the price levels for relatively unique investment strategies such as those implemented by several of the Funds. The Board noted the recent imposition of a fee waiver agreement for the IQ Hedge Multi-Strategy Tracker ETF and reduction of the advisory fee for the IQ Chaiken U.S. Large Cap ETF. |
Additionally, the Trustees considered that the Advisor had put in place expense limitation or fee waiver agreements whereby the Advisor reimburses expenses and/or waives fees to limit the impact above set thresholds of certain expenses on shareholders of certain Funds, including the IQ 500 Funds. The Board noted that such expense limitation and fee waiver agreements were reflected, where applicable, in the peer group analysis provided by the Advisor. |
Board Review of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited) (continued)
April 30, 2018
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 MacKay (and those proposed to be provided in respect of the IQ 500 Funds) and the costs incurred by the Advisor and MacKay in rendering those services, the Board concluded that the level of fees paid (or proposed to be paid) to the Advisor and Sub-Advisor with respect to each Fund and MacKay with respect to HYLV is fair and reasonable. |
3. | The Advisor’s and MacKay’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 also discussed additional resources that have been made available to the Advisor following its acquisition by NYLIM, including the investment of financial and human resources by NYLIM into the Advisor and additional support to market and distribute the Funds. |
The Board considered information regarding the strategy of the Advisor to grow assets in the Funds during the calendar year. The Board reviewed the net asset levels of the Funds and the impact of both high and low asset levels on such Funds. The Board also considered the impact of future asset growth on the services required and fees paid to MacKay, noting again that such fees were paid by the Advisor out of its management fees. The Board considered whether the continued operation of certain Funds that had not attracted significant assets under management would be profitable to the Advisor under the unitary fee arrangement of the Advisory Agreement and determined to continue to review the asset levels of the Funds in relation to the Advisor’s profitability. The Board also noted the existence of Expense Limitation Agreements and Fee Waiver Agreements applicable to certain of the Funds, and their respective impacts on costs to shareholders and profitability of the Advisor. |
The Board noted that the IQ 500 Funds had not yet commenced operations, and therefore no direct historical profitability data was available for consideration for such Funds. |
The Board concluded that the fees paid to the Advisor and MacKay were reasonable when considering the relative asset levels and profitability of the Funds to the Advisor and MacKay. |
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 and MacKay 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 IQ 500 Funds had not yet commenced operations, and therefore had no performance or operational history to consider. |
The Board concluded that the investment performance of the Funds, particularly in the context of tracking error as against each Fund’s underlying index and in succeeding in satisfying their stated investment objective, supported the approval of the Advisory Agreement and Sub-Advisory Agreement. |
Board of Trustees and Officers (unaudited)
April 30, 2018
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 | Chair Trustee | Since January 2018 Since August 2008 | Vice Provost of Faculty (2016 to present), Georgetown University, Robert E. McDonough Professor (2003 to present) and Professor of Finance, McDonough School of Business, Georgetown University (2000 to present); Director, Georgetown Center for Financial Markets and Policy (2010 to present); Co-Chair of Board, Social Innovations and Public Service Fund, Georgetown University(2012 to 2014). | 22 | Chair of Board, IndexIQ Trust, IndexIQ Active ETF Trust (2018 to present); Trustee, IndexIQ Trust, IndexIQ Active ETF Trust (2008 to present); FBR &Co. (investment banking) (2011 to 2017); Cohen & Steers (asset management) (2017 to present); Director, Brightwood Capital Advisors, L.P. (private equity investment)(2013 to present) | |||||||||||||||||
Michael A. Pignataro, 1959 | Trustee | Since April 2015 | Director, Credit Suisse Asset Management (2001 to 2012); and Chief Financial Officer, Credit Suisse Funds (1996 to 2013). | 22 | Trustee, IndexIQ Trust, IndexIQ Active ETF Trust (2015 to present); 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); Executive Advisor, Aquiline Capital Partners LLC (private equity investment)(2014 to present); and Managing Director, Forward Management LLC (asset management) (2010 to 2013). | 22 | Trustee, IndexIQ Trust, IndexIQ Active ETF Trust (2015 to present); Context Capital Funds (mutual fund trust)(2 Portfolios) (2014 to present); Pop Tech! (conference operator) (2012 to present) |
Kirk C. Lehneis, 19744 | Trustee, President and Principal Executive Officer | Since January 2018 | Chief Operating Officer and Senior Managing Director (since 2016), New York Life Investment Management LLC; Chairman of the Board (since September 2017), NYLIFE Distributors LLC; Chairman of the Board, NYLIM Service Company LLC (since September 2017); President, MainStay DefinedTerm Municipal Opportunities Fund, MainStay Funds, MainStay Funds Trust, and MainStay VP Funds Trust (since September 2017); Chief Executive Officer, IndexIQ Advisors LLC (since January 2018); Trustee, President and Principal Executive Officer, IndexIQ Trust, IndexIQ ETF Trust and IndexIQ Active ETF Trust (since January 2018). | 22 | Trustee, Index IQ Trust, Index IQ Active ETF Trust (2018 to present) |
Board of Trustees and Officers (unaudited) (continued)
April 30, 2018
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, IndexIQ Trust, IndexIQ ETF Trust and IndexIQ Active ETF Trust (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, and MainStay VP Funds Trust (2010 to 2014), MainStay Defined Term Municipal Opportunities Fund (2011 to 2014). MainStay VP Funds Trust, MainStay Defined Term Municipal Opportunities Fund (since 2014); Assistant Secretary, MainStay Funds, MainStay Funds Trust. | |||||||||||
Matthew V. Curtin, 1982 | Secretary and Chief Legal Officer | Since June 2015 | Secretary and Chief Legal Officer, IndexIQ, IndexIQ Trust, IndexIQ ETF Trust and IndexIQ Active ETF Trust (since June 2015), Chief Compliance Officer, IndexIQ, 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). | |||||||||||
Jon H. Zimmerman, 1982 | Executive Vice President | Since April 2018 | Chief Operating Officer, Index IQ Trust, IndexIQ Active ETF Trust and IndexIQ ETF Trust (2018 to present); Director, New York Life Investment Management LLC (2015-present); Vice President, Morgan Stanley (2007 to 2015) | |||||||||||
Adefolahan Oyefeso, 1974 | Treasurer, Principal Financial Officer and Principal Accounting Office | Since April 2018 | Vice President of Operations & Finance, IndexIQ Advisors LLC (January/2015 to present); Director of the Fund Administration Client Service Department at The Bank of New York Mellon 2007 to 2015. |
1 | The address of each Trustee or officer is c/o IndexIQ, 51 Madison Avenue, 4th Floor, New York, NY 10010. |
2 | Trustees and Officers serve until their successors are duly elected and qualified. |
3 | The Funds are part of a “fund complex”. The fund complex includes all open-end funds (including all of their portfolios) advised by the Advisor. As of the date of this SAI, the fund complex consists of the Trust’s funds, the Active ETF Trust and the one fund of the Index IQ Trust advised by the Advisor. |
4 | Mr. Lehneis is an “interested person” of the Trust (as that term is defined in the 1940 Act) because of his affiliations with the Advisor. |
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 $392,409 for 2018 and $390,590 for 2017. |
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 2018 and $0 for 2017. |
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 2018 and $0 for 2017. |
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 2018 and $0 for 2017. |
(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) | With respect to the services described in paragraphs (b) through (d) of this Item 4, no amount was approved by the Audit Committee pursuant to paragraph (c)(7)(i)(C) 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 $6,800,000 for the fiscal year ended April 30, 2018, and (ii) $5,600,000 for the fiscal year ended April 30, 2017. |
(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, 2018 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 last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13. 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. |
(a)(4) | 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/ Kirk C. Lehneis |
Kirk C. Lehneis | |
(Principal Executive Officer) |
Date | July 9, 2018 |
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/ Kirk C. Lehneis |
Kirk C. Lehneis | |
(Principal Executive Officer) |
Date | July 9, 2018 |
By (Signature and Title)* | /s/ Adefolahan O. Oyefeso |
Adefolahan O. Oyefeso | |
(Principal Financial Officer) |
Date | July 9, 2018 |
* Print the name and title of each signing officer under his or her signature.