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
New York, NY 10010
(Address of principal executive offices) (Zip code)
Kirk C. Lehneis
IndexIQ Advisors LLC
51 Madison Avenue
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, 2019
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Reports to Stockholders.
The Report to Shareholders is attached herewith.
IQ Hedge Macro Tracker ETF (MCRO)
IQ Hedge Market Neutral Tracker ETF (QMN)
IQ Hedge Long/Short Tracker ETF (QLS)
IQ Hedge Event-Driven Tracker ETF (QED)
IQ Real Return ETF (CPI)
IQ Leaders GTAA Tracker ETF (QGTA)
IQ Enhanced Core Bond U.S. ETF (AGGE)
IQ Enhanced Core Plus Bond U.S. ETF (AGGP)
IQ Short Duration Enhanced Core Bond U.S. ETF (SDAG)
IQ Merger Arbitrage ETF (MNA)
IQ Global Resources ETF (GRES)
IQ Global Agribusiness Small Cap ETF (CROP)
IQ U.S. Real Estate Small Cap ETF (ROOF)
IQ S&P High Yield Low Volatility Bond ETF (HYLV)
IQ 500 International ETF (IQIN)
IQ 50 Percent Hedged FTSE International ETF (HFXI)
IQ 50 Percent Hedged FTSE Europe ETF (HFXE)
IQ 50 Percent Hedged FTSE Japan ETF (HFXJ)
IQ Chaikin U.S. Small Cap ETF (CSML)
IQ Chaikin U.S. Large Cap ETF (CLRG)
• | Receive email notifications when your most recent shareholder communications are available for review. |
• | Access prospectuses, annual reports and semi-annual reports online. |
1. | Visithttps://www.icsdelivery.com/live/ |
2. | Follow the simple enrollment instructions |
Table of Contents
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Kirk C. Lehneis
President
The opinions expressed are as of the date of this report and are subject to change. There is no guarantee that any forecast made will come to pass. This material does not constitute investment advice and is not intended as an endorsement of any specific investment. Past performance is no guarantee of future results.
1 | The price used to calculate the market price returns is determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 7 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(From 4/30/2009 Through 4/30/2019)
(as of April 30, 2019)
1 Year | 5 Year | 10 Year | ||||||||||||
Average Annual | Average Annual | Average Annual | ||||||||||||
IQ Hedge Multi-Strategy Tracker ETF Market Price1 | 1.56 | % | 1.41 | % | 2.74 | % | ||||||||
IQ Hedge Multi-Strategy Tracker ETF NAV | 1.56 | % | 1.43 | % | 2.77 | % | ||||||||
IQ Hedge Multi-Strategy Index | 1.87 | % | 2.46 | % | 3.60 | % | ||||||||
HFRI Fund of Funds Composite Index2 | 0.58 | % | 2.46 | % | 3.51 | % | ||||||||
S&P 500 Index | 12.82 | % | 10.94 | % | 14.60 | % |
1 | Beginning on May 31, 2016, the price used to calculate the Market Price returns is the mean between the day’s last bid and ask prices. Prior to May 31, 2016, market price returns were calculated using the day’s NYSE Arca closing price. The market price returns do not represent returns an investor would receive if shares were traded at other times. |
Management’s Discussion of Fund Performance(unaudited) (continued)
1 | The price used to calculate the market price returns is determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 9 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
1 Year | 3 Year | 5 Year | Since Inception1 | ||||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | |||||||||||||||||||
IQ Hedge Macro Tracker ETF Market Price2 | 0.74 | % | 2.28 | % | 0.53 | % | 1.34 | % | 14.12 | % | |||||||||||||
IQ Hedge Macro Tracker ETF NAV | 0.77 | % | 2.50 | % | 0.52 | % | 1.35 | % | 14.21 | % | |||||||||||||
IQ Hedge Macro Index | 1.36 | % | 3.38 | % | 1.32 | % | 2.07 | % | 22.49 | % | |||||||||||||
HFRI Macro (Total) Index3 | 1.21 | % | 0.53 | % | 1.50 | % | 1.21 | % | 12.63 | % | |||||||||||||
MSCI World Index | 6.48 | % | 11.39 | % | 7.31 | % | 10.66 | % | 172.63 | % |
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 Macro (Total) Index is from 5/31/2009 to 4/30/2019. |
Management’s Discussion of Fund Performance(unaudited) (continued)
1 | The price used to calculate the market price returns is determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 11 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
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 | 2.54 | % | 1.50 | % | 0.93 | % | 1.33 | % | 9.08 | % | ||||||||||||
IQ Hedge Market Neutral Tracker ETF NAV | 2.56 | % | 1.43 | % | 0.90 | % | 1.33 | % | 9.11 | % | ||||||||||||
IQ Hedge Market Neutral Index | 3.16 | % | 2.23 | % | 1.93 | % | 2.31 | % | 16.20 | % | ||||||||||||
HFRI Equity Market Neutral Index3 | -0.51 | % | 2.52 | % | 2.58 | % | 3.30 | % | 23.82 | % | ||||||||||||
Bloomberg Barclays U.S. Short Treasury Bond Index | 2.29 | % | 1.28 | % | 0.85 | % | 0.68 | % | 4.55 | % |
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 4/30/2019. |
Management’s Discussion of Fund Performance(unaudited) (continued)
1 | The price used to calculate the market price returns is determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 13 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
1 Year | 3 Year | Since Inception1 | |||||||||||||||||
Average Annual | Average Annual | Average Annual | Cumulative | ||||||||||||||||
IQ Hedge Long/Short Tracker ETF Market Price2 | 2.91 | % | 6.67 | % | 3.64 | % | 15.79 | % | |||||||||||
IQ Hedge Long/Short Tracker ETF NAV | 3.07 | % | 6.39 | % | 3.66 | % | 15.87 | % | |||||||||||
IQ Hedge Long/Short Index | 3.79 | % | 7.40 | % | 4.76 | % | 21.06 | % | |||||||||||
HFRI Equity Hedge Index3 | 0.99 | % | 6.92 | % | 4.12 | % | 17.94 | % | |||||||||||
MSCI World Index | 6.48 | % | 11.39 | % | 7.16 | % | 32.85 | % |
1 | Fund Inception Date: 3/24/2015. |
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 4/30/2019. |
Management’s Discussion of Fund Performance(unaudited) (continued)
1 | The price used to calculate the market price returns is determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 15 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
1 Year | 3 Year | Since Inception1 | |||||||||||||||||
Average Annual | Average Annual | Average Annual | Cumulative | ||||||||||||||||
IQ Hedge Event-Driven Tracker ETF Market Price2 | 6.13 | % | 6.15 | % | 4.26 | % | 18.67 | % | |||||||||||
IQ Hedge Event-Driven Tracker ETF NAV | 6.12 | % | 6.19 | % | 4.25 | % | 18.61 | % | |||||||||||
IQ Hedge Event-Driven Index | 6.55 | % | 6.77 | % | 4.84 | % | 21.43 | % | |||||||||||
HFRI Event-Driven (Total) Index3 | 3.71 | % | 6.98 | % | 4.00 | % | 17.36 | % | |||||||||||
Bloomberg Barclays U.S. Aggregate Bond Index | 5.29 | % | 1.90 | % | 1.97 | % | 8.36 | % |
1 | Fund Inception Date: 3/24/2015. |
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 (Total) Index is from 3/31/2015 to 4/30/2019. |
Management’s Discussion of Fund Performance(unaudited) (continued)
1 | The price used to calculate the market price returns is determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 17 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
1 Year | 3 Year | 5 Year | Since Inception1 | ||||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | |||||||||||||||||||
IQ Real Return ETF Market Price2 | 2.53 | % | 2.13 | % | 1.60 | % | 1.43 | % | 14.42 | % | |||||||||||||
IQ Real Return ETF NAV | 2.64 | % | 2.16 | % | 1.61 | % | 1.44 | % | 14.53 | % | |||||||||||||
IQ Real Return Index | 3.00 | % | 2.41 | % | 1.93 | % | 1.85 | % | 19.06 | % | |||||||||||||
Bloomberg Barclays U.S. Short Treasury Bond Index | 2.29 | % | 1.28 | % | 0.85 | % | 0.54 | % | 5.23 | % |
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 determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 19 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
1 Year | 3 Year | Since Inception1 | |||||||||||||||||
Average Annual | Average Annual | Average Annual | Cumulative | ||||||||||||||||
IQ Leaders GTAA Tracker ETF Market Price2 | 3.61 | % | 8.96 | % | 7.96 | % | 31.59 | % | |||||||||||
IQ Leaders GTAA Tracker ETF NAV | 3.74 | % | 7.68 | % | 7.98 | % | 31.72 | % | |||||||||||
IQ Leaders GTAA Tracker Index | 3.93 | % | 8.11 | % | 8.49 | % | 33.92 | % | |||||||||||
MSCI All Country World Index | 5.06 | % | 11.36 | % | 12.08 | % | 50.53 | % |
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 determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 21 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
1 Year | Since Inception1 | ||||||||||||||
Average Annual | Average Annual | Cumulative | |||||||||||||
IQ Enhanced Core Bond U.S. ETF Market Price2 | 4.20 | % | 0.36 | % | 1.08 | % | |||||||||
IQ Enhanced Core Bond U.S. ETF NAV | 4.21 | % | 0.38 | % | 1.13 | % | |||||||||
IQ Enhanced Core Bond U.S. Index | 4.26 | % | 0.58 | % | 1.75 | % | |||||||||
Bloomberg Barclays U.S. Aggregate Bond Index | 5.29 | % | 1.83 | % | 5.55 | % |
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 determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 23 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
1 Year | Since Inception1 | ||||||||||||||
Average Annual | Average Annual | Cumulative | |||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF Market Price2 | 3.59 | % | 1.54 | % | 4.64 | % | |||||||||
IQ Enhanced Core Plus Bond U.S. ETF NAV | 3.63 | % | 1.58 | % | 4.77 | % | |||||||||
IQ Enhanced Core Plus Bond U.S. Index | 3.91 | % | 1.82 | % | 5.50 | % | |||||||||
Bloomberg Barclays U.S. Aggregate Bond Index | 5.29 | % | 1.83 | % | 5.55 | % |
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 determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 25 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
Since Inception1 | ||||||
Cumulative | ||||||
IQ Short Duration Enhanced Core Bond U.S. ETF Market Price2 | 2.20 | % | ||||
IQ Short Duration Enhanced Core Bond U.S. ETF NAV | 2.23 | % | ||||
IQ Short Duration Enhanced Core Bond U.S. Index | 2.32 | % | ||||
Bloomberg Barclays U.S. Government/Credit 1-5 Year Index | 2.42 | % | ||||
Bloomberg Barclays U.S. Aggregate Bond Index | 3.73 | % |
1 | Fund Inception Date: 12/18/2018. |
2 | The price used to calculate the Market Price returns is determined by using the mid price between bid and ask price listed on the NYSE Arca and does not represent returns an investor would receive. |
Management’s Discussion of Fund Performance(unaudited) (continued)
1 | The price used to calculate the market price returns is determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 27 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
1 Year | 3 Year | 5 Year | Since Inception1 | |||||||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | ||||||||||||||||||||||
IQ Merger Arbitrage ETF Market Price2 | 2.37 | % | 3.43 | % | 3.15 | % | 2.86 | % | 30.54 | % | ||||||||||||||||
IQ Merger Arbitrage ETF NAV | 2.52 | % | 3.53 | % | 3.28 | % | 2.86 | % | 30.59 | % | ||||||||||||||||
IQ Merger Arbitrage Index | 2.93 | % | 4.10 | % | 4.04 | % | 3.80 | % | 42.35 | % | ||||||||||||||||
HFRI Event Driven: Merger Arbitrage Index3 | 6.82 | % | 5.04 | % | 3.83 | % | 3.63 | % | 39.94 | % | ||||||||||||||||
MSCI World Index | 6.48 | % | 11.39 | % | 7.31 | % | 8.93 | % | 124.51 | % | ||||||||||||||||
S&P 500 Index | 12.82 | % | 14.18 | % | 10.94 | % | 12.50 | % | 204.74 | % |
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 Event Driven: Merger Arbitrage Index is from 11/30/2009 to 4/30/2019. |
Management’s Discussion of Fund Performance(unaudited) (continued)
1 | The price used to calculate the market price returns is determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 29 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
1 Year | 3 Year | 5 Year | Since Inception1 | |||||||||||||||||||||||
Average Annual | Average Annual | Average Annual | Average Annual | Cumulative | ||||||||||||||||||||||
IQ Global Resources ETF Market Price2 | –1.38 | % | 3.38 | % | –0.56 | % | 1.95 | % | 20.12 | % | ||||||||||||||||
IQ Global Resources ETF NAV | –2.08 | % | 3.37 | % | –0.61 | % | 1.91 | % | 19.74 | % | ||||||||||||||||
IQ Global Resources Index | –0.99 | % | 4.94 | % | 0.92 | % | 3.06 | % | 33.24 | % | ||||||||||||||||
S&P Global Natural Resources Index-Net3 | –4.82 | % | 9.49 | % | 1.29 | % | 1.64 | % | 16.77 | % | ||||||||||||||||
Bloomberg Commodity Spot Index | –7.00 | % | 3.72 | % | –4.66 | % | –0.01 | % | –0.14 | % | ||||||||||||||||
MSCI World Index | –6.48 | % | 11.39 | % | 7.31 | % | 9.24 | % | 131.83 | % |
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. |
3 | The S&P Global Natural Resources Index-Net has replaced the Bloomberg Commodity Spot Index as the Fund’s benchmark index. The new index more closely aligns with the Fund’s investment Strategy. |
Management’s Discussion of Fund Performance(unaudited) (continued)
1 | The price used to calculate the market price returns is determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 31 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
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 | –2.04 | % | 4.67 | % | 5.34 | % | 4.48 | % | 42.63 | % | |||||||||||||
IQ Global Agribusiness Small Cap ETF NAV | –2.16 | % | 4.02 | % | 5.33 | % | 4.49 | % | 42.81 | % | |||||||||||||
IQ Global Agribusiness Small Cap Index | –1.65 | % | 4.84 | % | 6.04 | % | 5.11 | % | 49.87 | % | |||||||||||||
MSCI World Small Cap Index | 0.65 | % | 10.67 | % | 7.01 | % | 8.56 | % | 94.69 | % | |||||||||||||
MSCI ACWI Select Agriculture Producers IMI Index3 | 2.29 | % | 9.33 | % | 3.12 | % | 2.55 | % | 22.67 | % |
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. |
3 | The MSCI ACWI Select Agriculture Producers IMI Index has replaced the Russell Global Small Cap Agriculture Fishing & Ranching Index (“Russell Index”) as the Fund’s benchmark index, due to the termination of the Russell Index on December 31, 2018. |
Management’s Discussion of Fund Performance(unaudited) (continued)
1 | The price used to calculate the market price returns is determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 33 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
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 | 11.24 | % | 6.09 | % | 5.53 | % | 8.77 | % | 93.94 | % | |||||||||||||
IQ U.S. Real Estate Small Cap ETF NAV | 11.16 | % | 6.05 | % | 5.56 | % | 9.02 | % | 97.58 | % | |||||||||||||
IQ U.S. Real Estate Small Cap Index | 11.84 | % | 6.85 | % | 6.37 | % | 9.84 | % | 109.55 | % | |||||||||||||
Dow Jones U.S. Real Estate Index | 19.06 | % | 8.69 | % | 9.02 | % | 9.79 | % | 108.92 | % |
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 36 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
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. |
4 | See page 36 for more information on this index. |
5 | The expression “excess return” may refer to the return that a security or portfolio provides above (or below) an investment with the lowest perceived risk, such as comparable U.S. Treasury securities. The expression may also refer to the return that a security or portfolio provides above (or below) an index or other benchmark. |
6 | An obligation rated ‘BB’ by Standard & Poor’s (“S&P”) is deemed by S&P to be less vulnerable to nonpayment than other speculative issues. In the opinion of S&P, however, the obligor faces major ongoing uncertainties or exposure to adverse business, financial or economic conditions which could lead to the obligor’s inadequate capacity to meet its financial commitment on the obligation. An obligation rated ‘B’ by S&P is deemed by S&P to be more vulnerable to nonpayment than obligations rated ‘BB’, but in the opinion of S&P, the obligor currently has the capacity to meet its financial commitment on the obligation. It is the opinion of S&P that adverse business, financial, or economic conditions will likely impair the obligor’s capacity or willingness to meet its financial commitment on the obligation. An obligation rated ‘CCC’ by S&P is deemed by S&P to be currently vulnerable to nonpayment and is dependent upon favorable business, financial and economic conditions for the obligor to meet its financial commitment on the obligation. It is the opinion of S&P that in the event of adverse business, financial or economic conditions, the obligor is not likely to have the capacity to meet its financial commitment on the obligation. When applied to Fund holdings, ratings are based solely on the creditworthiness of the bonds in the portfolio and are not meant to represent the security or safety of the Fund. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
1 Year | Since Inception1 | |||||||||||||
Average Annual | Average Annual | Cumulative | ||||||||||||
IQ S&P U.S. High Yield Low Volatility Bond ETF Market Price2 | 6.56 | % | 3.65 | % | 8.23 | % | ||||||||
IQ S&P U.S. High Yield Low Volatility Bond ETF NAV | 6.31 | % | 3.65 | % | 8.22 | % | ||||||||
S&P U.S. High Yield Low Volatility Corporate Bond Index | 6.41 | % | 3.92 | % | 8.86 | % | ||||||||
ICE BofAML U.S. High Yield Index (previously named Merrill Lynch U.S. High Yield Master II Index) | 6.71 | % | 5.31 | % | 12.08 | % |
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 determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 38 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
Since Inception1 | ||||||
Cumulative | ||||||
IQ 500 International ETF Market Price2 | 8.52 | % | ||||
IQ 500 International ETF NAV | 8.47 | % | ||||
IQ 500 International Index | 8.53 | % | ||||
MSCI EAFE NR Index | 9.65 | % | ||||
FTSE Developed ex U.S. Index | 9.53 | % |
1 | Fund Inception Date: 12/13/2018. |
2 | The price used to calculate the Market Price returns is determined by using the mid price between bid and ask price listed on the NYSE Arca and does not represent returns an investor would receive. |
Management’s Discussion of Fund Performance(unaudited) (continued)
1 | The price used to calculate the market price returns is determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 41 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
1 Year | 3 Year | Since Inception1 | |||||||||||||||||
Average Annual | Average Annual | Average Annual | Cumulative | ||||||||||||||||
IQ 50 Percent Hedged FTSE International ETF Market Price2 | –0.03 | % | 9.29 | % | 4.12 | % | 16.46 | % | |||||||||||
IQ 50 Percent Hedged FTSE International ETF NAV | –0.42 | % | 9.01 | % | 4.04 | % | 16.16 | % | |||||||||||
FTSE Developed ex North America 50% Hedged to USD Index | –0.51 | % | 9.44 | % | 4.58 | % | 18.44 | % | |||||||||||
FTSE Developed ex North America Index Local Currency | 3.28 | % | 11.28 | % | 5.43 | % | 22.11 | % | |||||||||||
FTSE Developed ex North America Index | –4.20 | % | 7.57 | % | 3.66 | % | 14.55 | % |
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 determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 43 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
1 Year | 3 Year | Since Inception1 | |||||||||||||||||
Average Annual | Average Annual | Average Annual | Cumulative | ||||||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF Market Price2 | 1.90 | % | 8.63 | % | 4.05 | % | 16.17 | % | |||||||||||
IQ 50 Percent Hedged FTSE Europe ETF NAV | 1.45 | % | 9.01 | % | 4.05 | % | 16.17 | % | |||||||||||
FTSE Developed Europe 50% Hedged to USD Index | 1.71 | % | 9.51 | % | 4.70 | % | 18.94 | % | |||||||||||
FTSE Developed Europe Index Hedged | 6.47 | % | 11.75 | % | 6.37 | % | 26.27 | % | |||||||||||
FTSE Developed Europe Index | –2.89 | % | 7.22 | % | 2.96 | % | 11.63 | % |
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 determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. . The price used to calculate the market price returns is determined by using the closing price listed on the NYSE Arca and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 45 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
1 Year | 3 Year | Since Inception1 | |||||||||||||||||
Average Annual | Average Annual | Average Annual | Cumulative | ||||||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF Market Price2 | –5.71 | % | 7.11 | % | 2.23 | % | 8.67 | % | |||||||||||
IQ 50 Percent Hedged FTSE Japan ETF NAV | –5.96 | % | 8.22 | % | 2.30 | % | 8.95 | % | |||||||||||
FTSE Japan 50% Hedged to USD Index | –5.70 | % | 8.74 | % | 2.84 | % | 11.14 | % | |||||||||||
FTSE Japan Index Hedged | –3.85 | % | 10.00 | % | 1.68 | % | 6.51 | % | |||||||||||
FTSE Japan Index | –7.59 | % | 7.27 | % | 3.76 | % | 14.95 | % |
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 determined by using the closing price listed on the NASDAQ and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 47 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
1 Year | Since Inception1 | ||||||||||||||
Average Annual | Average Annual | Cumulative | |||||||||||||
IQ Chaikin U.S. Small Cap ETF Market Price2 | –4.14 | % | 1.96 | % | 3.88 | % | |||||||||
IQ Chaikin U.S. Small Cap ETF NAV | –4.10 | % | 1.97 | % | 3.89 | % | |||||||||
NASDAQ Chaikin Power U.S. Small Cap Index | –3.71 | % | 2.52 | % | 5.00 | % | |||||||||
Russell 2000 Index | 4.61 | % | 8.42 | % | 17.16 | % | |||||||||
NASDAQ US 1500 Index | 4.69 | % | 8.70 | % | 17.75 | % |
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 NASDAQ and does not represent returns an investor would receive. |
Management’s Discussion of Fund Performance(unaudited) (continued)
1 | The price used to calculate the market price returns is determined by using the closing price listed on the NASDAQ and does not represent returns an investor would receive if shares were traded at other times. |
2 | See page 49 for more information on this index. |
Management’s Discussion of Fund Performance(unaudited) (continued)
(Since Inception Through 4/30/2019)
(as of April 30, 2019)
1 Year | Since Inception1 | ||||||||||||||
Average Annual | Average Annual | Cumulative | |||||||||||||
IQ Chaikin U.S. Large Cap ETF Market Price2 | –0.13 | % | 0.86 | % | 1.19 | % | |||||||||
IQ Chaikin U.S. Large Cap ETF NAV | –0.13 | % | 0.85 | % | 1.18 | % | |||||||||
NASDAQ Chaikin Power U.S. Large Cap Index | 0.09 | % | 1.10 | % | 1.53 | % | |||||||||
S&P 500 Index | 12.82 | % | 9.01 | % | 12.66 | % | |||||||||
NASDAQ US 300 Total Return Index | 13.96 | % | 9.82 | % | 13.81 | % |
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 NASDAQ and does not represent returns an investor would receive if shares were traded at other times. |
Fund Expenses(unaudited) (continued)
Beginning Account Value 11/01/18 | Ending Account Value 04/30/19 | Annualized Expense Ratios for the Period 11/01/18 to 04/30/19 | Expenses1 Paid During the Period 11/01/18 to 04/30/19 | |||||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,033.70 | 0.54 | % | $ | 2.72 | ||||||||||
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 | $ | 1,037.90 | 0.76 | % | $ | 3.84 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.03 | 0.76 | % | $ | 3.81 | ||||||||||
IQ Hedge Market Neutral Tracker ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,025.60 | 0.76 | % | $ | 3.82 | ||||||||||
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 | $ | 1,059.60 | 0.76 | % | $ | 3.88 | ||||||||||
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 | $ | 1,055.80 | 0.76 | % | $ | 3.87 | ||||||||||
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 | $ | 1,025.40 | 0.27 | % | $ | 1.36 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.46 | 0.27 | % | $ | 1.35 | ||||||||||
IQ Leaders GTAA Tracker ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,082.80 | 0.28 | % | $ | 1.45 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.41 | 0.28 | % | $ | 1.40 | ||||||||||
IQ Enhanced Core Bond U.S. ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,038.30 | 0.21 | % | $ | 1.06 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.75 | 0.21 | % | $ | 1.05 | ||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,030.90 | 0.21 | % | $ | 1.06 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.75 | 0.21 | % | $ | 1.05 | ||||||||||
IQ Short Duration Enhanced Core Bond U.S. ETF * | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,022.30 | 0.20 | % | $ | 0.74 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.80 | 0.20 | % | $ | 1.00 | ||||||||||
IQ Merger Arbitrage ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 990.00 | 0.76 | % | $ | 3.75 | ||||||||||
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 | $ | 1,015.90 | 0.76 | % | $ | 3.80 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.03 | 0.76 | % | $ | 3.81 | ||||||||||
IQ Global Agribusiness Small Cap ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,119.50 | 0.76 | % | $ | 3.99 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.03 | 0.76 | % | $ | 3.81 | ||||||||||
IQ U.S. Real Estate Small Cap ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,066.20 | 0.70 | % | $ | 3.59 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,021.32 | 0.70 | % | $ | 3.51 | ||||||||||
IQ S&P High Yield Low Volatility Bond ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,059.50 | 0.40 | % | $ | 2.04 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,022.81 | 0.40 | % | $ | 2.01 | ||||||||||
IQ 500 International ETF ** | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,084.70 | 0.25 | % | $ | 0.99 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.55 | 0.25 | % | $ | 1.25 | ||||||||||
IQ 50 Percent Hedged FTSE International ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,079.30 | 0.20 | % | $ | 1.03 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.80 | 0.20 | % | $ | 1.00 |
Fund Expenses(unaudited) (continued)
Beginning Account Value 11/01/18 | Ending Account Value 04/30/19 | Annualized Expense Ratios for the Period 11/01/18 to 04/30/19 | Expenses1 Paid During the Period 11/01/18 to 04/30/19 | |||||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,097.00 | 0.30 | % | $ | 1.56 | ||||||||||
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 | $ | 1,011.90 | 0.30 | % | $ | 1.50 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.31 | 0.30 | % | $ | 1.51 | ||||||||||
IQ Chaikin U.S. Small Cap ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,026.90 | 0.35 | % | $ | 1.76 | ||||||||||
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 | $ | 1,036.40 | 0.25 | % | $ | 1.26 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.55 | 0.25 | % | $ | 1.25 |
* | Fund commenced operations on December 18, 2018. Expenses are calculated using the Fund’s annualized expense ratio, multiplied by the ending value for the period, multiplied by 134/365 (to reflect commencement of operation). |
** | Fund commenced operations on December 13, 2018. 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. |
Asset Class | % of Net Assets | |||||
U.S. Ultra Short Term Treasury Bond Funds | 28.6 | % | ||||
Floating Rate — Investment Grade Funds | 10.5 | |||||
Investment Grade Corporate Bond Funds | 9.3 | |||||
Money Market Fund | 9.0 | |||||
Bank Loan Funds | 8.5 | |||||
International Small Cap Equity Funds | 5.2 | |||||
BRIC Equity Funds | 3.7 | |||||
Mortgage Backed Securities Funds | 3.7 | |||||
Europe Equity Funds | 3.2 | |||||
Euro Fund | 2.5 | |||||
Japan Equity Funds | 2.3 | |||||
Emerging Markets Small Cap Equity Fund | 2.3 | |||||
U.S. Small Cap Growth Funds | 2.1 | |||||
Emerging Bonds — USD Funds | 2.1 | |||||
Emerging Bonds — Local Currency Funds | 2.0 | |||||
U.S. Medium Term Treasury Bond Funds | 1.9 | |||||
High Yield Corporate Bond Funds | 1.8 | |||||
U.S. Large Cap Growth Funds | 1.8 | |||||
Japanese Yen Fund | 1.4 | |||||
Asia ex Japan Equity Funds | 1.4 | |||||
U.S. Large Cap Core Funds | 1.3 | |||||
U.S. Dollar Fund | 1.3 | |||||
Silver Fund | 0.8 | |||||
U.S. Small Cap Core Funds | 0.8 | |||||
Municipal Bond Fund | 0.4 | |||||
International Equity Core Funds | 0.3 | |||||
U.S. REITS Funds | 0.3 | |||||
Broad Fund | 0.3 | |||||
Convertible Bond Fund | 0.1 | |||||
Total Investments | 108.9 | |||||
Other Assets and Liabilites, Net | (8.9 | ) | ||||
Total Net Assets | 100.0 | % |
Asset Class | % of Net Assets | |||||
U.S. Ultra Short Term Treasury Bond Funds | 28.9 | % | ||||
Money Market Funds | 19.1 | |||||
Floating Rate — Investment Grade Funds | 14.6 | |||||
BRIC Equity Funds | 9.5 | |||||
International Small Cap Equity Funds | 6.0 | |||||
Investment Grade Corporate Bond Funds | 5.7 | |||||
U.S. Medium Term Treasury Bond Funds | 5.6 | |||||
Europe Equity Fund | 4.4 | |||||
Japan Equity Fund | 3.8 | |||||
Emerging Small Cap Equity Fund | 2.6 | |||||
U.S. Dollar Fund | 2.6 | |||||
Emerging Bonds — USD Funds | 2.6 | |||||
Japanese Yen Fund | 2.5 | |||||
Emerging Bonds — Local Currency Funds | 2.5 | |||||
U.S. Small Cap Core Funds | 2.1 | |||||
Euro Fund | 2.0 | |||||
Silver Fund | 1.6 | |||||
U.S. Large Cap Growth Funds | 1.2 | |||||
U.S. Large Cap Core Fund | 1.0 | |||||
Broad Fund | 0.7 | |||||
Total Investments | 119.0 | |||||
Other Assets and Liabilites, Net | (19.0 | ) | ||||
Total Net Assets | 100.0 | % |
Asset Class | % of Net Assets | |||||
U.S. Ultra Short Term Treasury Bond Funds | 41.8 | % | ||||
Money Market Fund | 16.8 | |||||
Investment Grade Corporate Bond Funds | 12.3 | |||||
Bank Loan Funds | 11.2 | |||||
International Small Cap Equity Funds | 7.4 | |||||
Floating Rate — Investment Grade Funds | 5.6 | |||||
Mortgage Backed Securities Funds | 4.2 | |||||
U.S. Small Cap Growth Funds | 3.0 | |||||
Europe Equity Funds | 3.0 | |||||
Euro Fund | 2.5 | |||||
Asia ex Japan Equity Funds | 2.4 | |||||
High Yield Corporate Bond Funds | 2.1 | |||||
Japan Equity Fund | 1.9 | |||||
U.S. Large Cap Growth Funds | 1.5 | |||||
U.S. Large Cap Core Funds | 0.6 | |||||
Municipal Bond | 0.5 | |||||
Total Investments | 116.8 | |||||
Other Assets and Liabilites, Net | (16.8 | ) | ||||
Total Net Assets | 100.0 | % |
See notes to financial statements.
Portfolio Summaries*(unaudited) (continued)
April 30, 2019
Asset Class | % of Net Assets | |||||
U.S. Ultra Short Term Treasury Bond Funds | 17.1 | % | ||||
International Equity Core Fund | 16.0 | |||||
Investment Grade Corporate Bond Funds | 15.5 | |||||
U.S. Large Cap Core Funds | 14.7 | |||||
International Small Cap Equity Funds | 12.7 | |||||
Money Market Fund | 12.5 | |||||
U.S. Momentum Fund | 6.3 | |||||
Bank Loan Funds | 6.3 | |||||
International Large Cap Growth Fund | 5.8 | |||||
U.S. Long Term Treasury Bond Funds | 3.0 | |||||
U.S. Small Cap Value Funds | 1.4 | |||||
Volatility Note | 0.9 | |||||
U.S. Preferred Funds | 0.1 | |||||
Total Investments | 112.3 | |||||
Other Assets and Liabilites, Net | (12.3 | ) | ||||
Total Net Assets | 100.0 | % |
Asset Class | % of Net Assets | |||||
High Yield Corporate Bond Funds | 31.4 | % | ||||
Investment Grade Corporate Bond Funds | 24.6 | |||||
Bank Loan Funds | 23.8 | |||||
Convertible Bond Fund | 10.2 | |||||
U.S. Small Cap Growth Funds | 9.7 | |||||
Money Market Fund | 4.3 | |||||
U.S. Ultra Short Term Treasury Bond Funds | 0.1 | |||||
Total Investments | 104.1 | |||||
Other Assets and Liabilites, Net | (4.1 | ) | ||||
Total Net Assets | 100.0 | % |
Asset Class | % of Net Assets | |||||
U.S. Ultra Short Term Treasury Bond Funds | 51.5 | % | ||||
U.S. Short Term Investment Grade Fund | 24.9 | |||||
Money Market Fund | 17.8 | |||||
U.S. Large Cap Core Funds | 10.2 | |||||
Oil Fund | 4.2 | |||||
U.S. Small Cap Core Fund | 4.0 | |||||
Euro Fund | 3.4 | |||||
Emerging Equity Funds | 0.9 | |||||
Japanese Yen Fund | 0.8 | |||||
Total Investments | 117.7 | |||||
Other Assets and Liabilities, Net | (17.7 | ) | ||||
Total Net Assets | 100.0 | % |
Asset Class | % of Net Assets | |||||
International Equity Core Funds | 24.2 | % | ||||
U.S. Large Cap Core Funds | 21.3 | |||||
Aggregate Bond Funds | 19.9 | |||||
High Yield Corporate Bond Funds | 18.9 | |||||
Money Market Fund | 9.4 | |||||
Emerging Equity Funds | 8.0 | |||||
Convertible Bond Fund | 6.9 | |||||
Investment Grade Corporate Bond Funds | 0.6 | |||||
Total Investments | 109.2 | |||||
Other Assets and Liabilites, Net | (9.2 | ) | ||||
Total Net Assets | 100.0 | % |
Asset Class | % of Net Assets | |||||
U.S. Short Term Treasury Bond Funds | 50.0 | % | ||||
Investment Grade Corporate Bond Funds | 36.1 | |||||
Short Maturity Investment Grade Corporate Bond Fund | 13.9 | |||||
Money Market Fund | 0.0 | (a) | ||||
Total Investments | 100.0 | |||||
Other Assets and Liabilites, Net | (0.0) | (a) | ||||
Total Net Assets | 100.0 | % |
Asset Class | % of Net Assets | |||||
U.S. Short Term Treasury Bond Funds | 49.2 | % | ||||
Investment Grade Corporate Bond Funds | 30.3 | |||||
Short Maturity Investment Grade Corporate Bond Fund | 11.7 | |||||
High Yield Corporate Bond Funds | 5.9 | |||||
Emerging Market Bond Funds | 2.8 | |||||
Money Market Fund | 0.8 | |||||
Total Investments | 100.7 | |||||
Other Assets and Liabilites, Net | (0.7 | ) | ||||
Total Net Assets | 100.0 | % |
See notes to financial statements.
Portfolio Summaries*(unaudited) (continued)
April 30, 2019
Asset Class | % of Net Assets | |||||
Short Maturity Investment Grade Corp Bond Fund | 60.7 | % | ||||
High Yield Corporate Bond Funds | 25.0 | |||||
Floating Rate — Investment Grade Funds | 5.7 | |||||
U.S. Short Term Treasury Bond Funds | 4.4 | |||||
Investment Grade Corporate Bond Fund | 4.1 | |||||
Money Market Fund | 2.5 | |||||
Total Investments | 102.4 | |||||
Other Assets and Liabilites, Net | (2.4 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Information Technology | 36.3 | % | ||||
Health Care | 22.5 | |||||
Money Market Fund | 18.2 | |||||
Industrials | 11.4 | |||||
Financials | 9.4 | |||||
Communication Services | 4.1 | |||||
Materials | 1.6 | |||||
Real Estate | 0.5 | |||||
Total Investments | 104.0 | |||||
Other Assets and Liabilites, Net | (4.0 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Energy | 16.1 | % | ||||
Timber | 15.9 | |||||
Industrial Metals | 14.4 | |||||
Coal | 11.3 | |||||
Money Market Fund | 10.9 | |||||
Precious Metals | 9.8 | |||||
Water | 9.3 | |||||
Grains Food Fiber | 7.1 | |||||
Livestock | 7.0 | |||||
Total Investments | 101.8 | |||||
Other Assets and Liabilities, Net | (1.8 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Crop Production and Farming | 47.1 | % | ||||
Livestock Operations | 20.0 | |||||
Agricultural Chemicals | 13.2 | |||||
Agricultural Machinery | 11.1 | |||||
Agricultural Supplies and Logistics | 8.4 | |||||
Money Market Fund | 6.0 | |||||
Total Investments | 105.8 | |||||
Other Assets and Liabilites, Net | (5.8 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Specialized REITs | 20.4 | % | ||||
Retail REITs | 19.5 | |||||
Diversified REITs | 16.8 | |||||
Office REITs | 16.4 | |||||
Mortgage REITs | 13.2 | |||||
Hotel REITs | 12.5 | |||||
Money Market Fund | 4.8 | |||||
Residential REIT | 0.9 | |||||
Total Investments | 104.5 | |||||
Other Assets and Liabilites, Net | (4.5 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Media | 13.3 | % | ||||
Health Care | 12.1 | |||||
Consumer Discretionary | 11.8 | |||||
Energy | 10.7 | |||||
Materials | 10.4 | |||||
Industrials | 9.3 | |||||
Telecommunication Services | 8.5 | |||||
Information Technology | 7.5 | |||||
Financials | 6.6 | |||||
Utilities | 3.6 | |||||
Consumer Staples | 3.2 | |||||
Money Market Fund | 3.1 | |||||
Real Estate | 1.0 | |||||
Transportation | 0.1 | |||||
Total Investments | 101.2 | |||||
Other Assets and Liabilites, Net | (1.2 | ) | ||||
Total Net Assets | 100.0 | % |
See notes to financial statements.
Portfolio Summaries*(unaudited) (continued)
April 30, 2019
Industry | % of Net Assets | |||||
Industrials | 21.6 | % | ||||
Consumer Discretionary | 14.8 | |||||
Consumer Staples | 11.9 | |||||
Financials | 10.0 | |||||
Materials | 9.4 | |||||
Communication Services | 7.4 | |||||
Energy | 6.9 | |||||
Utilities | 6.5 | |||||
Health Care | 5.9 | |||||
Information Technology | 5.0 | |||||
Money Market Fund | 3.8 | |||||
Total Investments | 103.2 | |||||
Other Assets and Liabilites, Net | (3.2 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Financials | 19.2 | % | ||||
Industrials | 14.9 | |||||
Consumer Staples | 11.1 | |||||
Consumer Discretionary | 11.0 | |||||
Health Care | 10.5 | |||||
Information Technology | 7.9 | |||||
Materials | 7.8 | |||||
Energy | 5.6 | |||||
Communication Services | 5.3 | |||||
Money Market Fund | 3.6 | |||||
Utilities | 3.3 | |||||
Real Estate | 3.3 | |||||
Total Investments | 103.5 | |||||
Other Assets and Liabilites, Net | (3.5 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Financials | 19.2 | % | ||||
Industrials | 13.6 | |||||
Consumer Staples | 13.5 | |||||
Health Care | 12.4 | |||||
Consumer Discretionary | 9.4 | |||||
Energy | 8.1 | |||||
Money Market Fund | 7.8 | |||||
Materials | 7.7 | |||||
Information Technology | 5.3 | |||||
Communication Services | 4.8 | |||||
Utilities | 4.0 | |||||
Real Estate | 1.8 | |||||
Total Investments | 107.6 | |||||
Other Assets and Liabilites, Net | (7.6 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Industrials | 22.3 | % | ||||
Consumer Discretionary | 18.3 | |||||
Information Technology | 10.9 | |||||
Financials | 10.9 | |||||
Consumer Staples | 8.9 | |||||
Health Care | 8.8 | |||||
Communication Services | 8.0 | |||||
Materials | 6.2 | |||||
Real Estate | 2.8 | |||||
Utilities | 1.9 | |||||
Energy | 0.9 | |||||
Money Market Fund | 0.6 | |||||
Total Investments | 100.5 | |||||
Other Assets and Liabilites, Net | (0.5 | ) | ||||
Total Net Assets | 100.0 | % |
See notes to financial statements.
Portfolio Summaries*(unaudited) (continued)
April 30, 2019
Industry | % of Net Assets | |||||
Industrials | 30.1 | % | ||||
Financials | 24.7 | |||||
Technology | 12.7 | |||||
Consumer Services | 10.6 | |||||
Consumer Goods | 9.6 | |||||
Basic Materials | 8.4 | |||||
Health Care | 3.1 | |||||
Money Market Fund | 1.5 | |||||
Utilities | 0.4 | |||||
Oil & Gas | 0.4 | |||||
Total Investments | 101.5 | |||||
Other Assets and Liabilites, Net | (1.5 | ) | ||||
Total Net Assets | 100.0 | % |
Industry | % of Net Assets | |||||
Financials | 34.3 | % | ||||
Health Care | 15.5 | |||||
Technology | 14.8 | |||||
Industrials | 12.0 | |||||
Consumer Services | 10.1 | |||||
Consumer Goods | 5.8 | |||||
Utilities | 2.9 | |||||
Oil & Gas | 2.9 | |||||
Basic Materials | 1.5 | |||||
Money Market Fund | 0.1 | |||||
Total Investments | 99.9 | |||||
Other Assets and Liabilites, Net | 0.1 | |||||
Total Net Assets | 100.0 | % |
(a) | Less than 0.05%. |
* | Each Fund’s portfolio is subject to change. |
See notes to financial statements.
Shares | Value | |||||||||
Exchange Traded Vehicles — 6.0% | ||||||||||
Euro Fund — 2.5% | ||||||||||
Invesco CurrencyShares Euro Currency Trust*(a) | 229,476 | $ | 24,528,690 | |||||||
Japanese Yen Fund — 1.4% | ||||||||||
Invesco CurrencyShares Japanese Yen Trust*(a) | 169,259 | 14,475,030 | ||||||||
Silver Fund — 0.8% | ||||||||||
iShares Silver Trust*(a) | 594,877 | 8,340,175 | ||||||||
U.S. Dollar Fund — 1.3% | ||||||||||
Invesco DB U.S. Dollar Index Bullish Fund(a) | 482,897 | 12,637,414 | ||||||||
Total Exchange Traded Vehicles (Cost $60,660,980) | 59,981,309 | |||||||||
Investment Companies — 93.9% | ||||||||||
Asia ex Japan Equity Funds — 1.4% | ||||||||||
iShares Core MSCI Pacific ETF(a) | 103,057 | 5,802,109 | ||||||||
iShares MSCI All Country Asia ex Japan ETF(a) | 89,260 | 6,449,928 | ||||||||
Vanguard FTSE Pacific ETF | 22,042 | 1,469,540 | ||||||||
Total Asia ex Japan Equity Funds | 13,721,577 | |||||||||
Bank Loan Funds — 8.5% | ||||||||||
Invesco Senior Loan ETF(a) | 2,639,356 | 60,626,007 | ||||||||
SPDR Blackstone / GSO Senior Loan ETF(a) | 509,669 | 23,877,993 | ||||||||
Total Bank Loan Funds | 84,504,000 | |||||||||
BRIC Equity Funds — 3.7% | ||||||||||
iShares China Large-Cap ETF | 417,238 | 18,562,919 | ||||||||
iShares MSCI China ETF(a) | 212,830 | 13,518,962 | ||||||||
SPDR S&P China ETF(a) | 41,975 | 4,278,931 | ||||||||
Total BRIC Equity Funds | 36,360,812 | |||||||||
Broad Fund — 0.3% | ||||||||||
FlexShares Global Upstream Natural Resources Index Fund | 78,868 | 2,592,391 | ||||||||
Convertible Bond Fund — 0.1% | ||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF | 15,828 | 846,798 | ||||||||
Emerging Bonds — USD Funds — 2.1% | ||||||||||
iShares J.P. Morgan USD Emerging Markets Bond ETF | 176,488 | 19,378,382 | ||||||||
Vanguard Emerging Markets Government Bonds ETF(a) | 17,701 | 1,382,979 | ||||||||
Total Emerging Bond — USD Funds | 20,761,361 | |||||||||
Emerging Bonds — Local Currency Funds — 2.0% | ||||||||||
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | 89,486 | 2,390,171 | ||||||||
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 518,007 | 17,156,392 | ||||||||
WisdomTree Emerging Markets Local Debt Fund | 17,704 | 603,529 | ||||||||
Total Emerging Bonds — Local Currency Funds | 20,150,092 | |||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
Emerging Markets Small Cap Equity Fund — 2.3% | ||||||||||
SPDR S&P Emerging Markets SmallCap ETF | 497,144 | $ | 22,386,394 | |||||||
Europe Equity Funds — 3.2% | ||||||||||
iShares Core MSCI Europe ETF | 26,577 | 1,267,723 | ||||||||
iShares MSCI Eurozone ETF(a) | 63,478 | 2,572,763 | ||||||||
Vanguard FTSE Europe ETF | 92,584 | 5,157,855 | ||||||||
Xtrackers MSCI Europe Hedged Equity ETF | 776,373 | 22,957,349 | ||||||||
Total Europe Equity Funds | 31,955,690 | |||||||||
Floating Rate — Investment Grade Funds — 10.5% | ||||||||||
iShares Floating Rate Bond ETF(a) | 1,473,046 | 75,066,424 | ||||||||
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 943,209 | 28,975,381 | ||||||||
Total Floating Rate — Investment Grade Funds | 104,041,805 | |||||||||
High Yield Corporate Bond Funds — 1.8% | ||||||||||
iShares 0-5 Year High Yield Corporate Bond ETF | 169,831 | 7,958,281 | ||||||||
SPDR Bloomberg Barclays Short Term High Yield Bond ETF | 365,431 | 9,998,192 | ||||||||
Total High Yield Corporate Bond Funds | 17,956,473 | |||||||||
International Equity Core Funds — 0.3% | ||||||||||
iShares Core MSCI EAFE ETF | 22,004 | 1,376,570 | ||||||||
Vanguard FTSE Developed Markets ETF(a) | 38,183 | 1,604,832 | ||||||||
Total International Equity Core Funds | 2,981,402 | |||||||||
International Small Cap Equity Funds — 5.2% | ||||||||||
Schwab International Small-Cap Equity ETF(a) | 442,300 | 14,684,360 | ||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF(a) | 350,774 | 37,431,094 | ||||||||
Total International Small Cap Equity Funds | 52,115,454 | |||||||||
Investment Grade Corporate Bond Funds — 9.3% | ||||||||||
iShares Broad USD Investment Grade Corporate Bond ETF | 46,544 | 2,574,349 | ||||||||
SPDR Portfolio Short Term Corporate Bond ETF | 217,762 | 6,654,807 | ||||||||
Vanguard Intermediate-Term Corporate Bond ETF | 598,388 | 52,053,772 | ||||||||
Vanguard Short-Term Corporate Bond ETF | 389,655 | 31,067,193 | ||||||||
Total Investment Grade Corporate Bond Funds | 92,350,121 |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
Japan Equity Funds — 2.3% | ||||||||||
iShares MSCI Japan ETF | 55,151 | $ | 3,056,469 | |||||||
Xtrackers MSCI Japan Hedged Equity ETF(a) | 486,313 | 19,763,760 | ||||||||
Total Japan Equity Funds | 22,820,229 | |||||||||
Mortgage Backed Securities Funds — 3.7% | ||||||||||
iShares MBS ETF | 223,369 | 23,674,880 | ||||||||
Vanguard Mortgage-Backed Securities ETF | 242,607 | 12,654,381 | ||||||||
Total Mortgage Backed Securities Funds | 36,329,261 | |||||||||
Municipal Bond Fund — 0.4% | ||||||||||
Vaneck Vectors High-Yield Municipal Index ETF(a) | 65,395 | 4,109,422 | ||||||||
U.S. Large Cap Core Funds — 1.3% | ||||||||||
Energy Select Sector SPDR Fund(a) | 122,982 | 8,130,340 | ||||||||
Invesco KBW Bank ETF | 18,740 | 987,036 | ||||||||
SPDR S&P Bank ETF(a) | 84,541 | 3,845,770 | ||||||||
Total U.S. Large Cap Core Funds | 12,963,146 | |||||||||
U.S. Large Cap Growth Funds — 1.8% | ||||||||||
iShares Core S&P U.S. Growth ETF(a) | 29,841 | 1,869,240 | ||||||||
Schwab U.S. Large-Cap Growth ETF(a) | 27,045 | 2,245,817 | ||||||||
SPDR Portfolio S&P 500 Growth ETF(a) | 36,593 | 1,415,417 | ||||||||
Vanguard Growth ETF(a) | 73,547 | 12,045,528 | ||||||||
Total U.S. Large Cap Growth Funds | 17,576,002 | |||||||||
U.S. Medium Term Treasury Bond Funds — 1.9% | ||||||||||
iShares 3-7 Year Treasury Bond ETF(a) | 77,369 | 9,509,424 | ||||||||
Schwab Intermediate-Term U.S. Treasury ETF | 95,012 | 5,090,743 | ||||||||
Vanguard Intermediate-Term Treasury ETF(a) | 74,458 | 4,785,415 | ||||||||
Total U.S. Medium Term Treasury Bond Funds | 19,385,582 | |||||||||
U.S. REITS Funds — 0.3% | ||||||||||
iShares Core U.S. REIT ETF | 1,680 | 86,671 | ||||||||
Schwab U.S. REIT ETF(a) | 8,596 | 381,147 | ||||||||
Vanguard Real Estate ETF | 27,949 | 2,425,135 | ||||||||
Total U.S. REITS Funds | 2,892,953 | |||||||||
U.S. Small Cap Core Funds — 0.8% | ||||||||||
iShares Russell 2000 ETF(a) | 29,347 | 4,645,337 | ||||||||
Schwab U.S. Small-Cap ETF(a) | 11,761 | 852,320 | ||||||||
Vanguard Small-Cap ETF | 16,519 | 2,614,627 | ||||||||
Total U.S. Small Cap Core Funds | 8,112,284 | |||||||||
U.S. Small Cap Growth Funds — 2.1% | ||||||||||
iShares Russell 2000 Growth ETF(a) | 41,190 | 8,339,739 | ||||||||
iShares S&P Small-Cap 600 Growth ETF(a) | 27,592 | 5,091,276 | ||||||||
Vanguard Small-Cap Growth ETF(a) | 42,579 | 7,902,662 | ||||||||
Total U.S. Small Cap Growth Funds | 21,333,677 | |||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Ultra Short Term Treasury Bond Funds — 28.6% | ||||||||||
Goldman Sachs Access Treasury 0-1 Year ETF(a) | 285,234 | $ | 28,606,118 | |||||||
Invesco Treasury Collateral ETF | 46,369 | 4,892,161 | ||||||||
iShares Short Treasury Bond ETF(a)(b) | 1,603,699 | 177,304,962 | ||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF(a) | 803,629 | 73,612,416 | ||||||||
Total U.S. Ultra Short Term Treasury Bond Funds | 284,415,657 | |||||||||
Total Investment Companies (Cost $916,367,686) | 932,662,583 | |||||||||
Short-Term Investment — 0.2% | ||||||||||
Money Market Fund — 0.2% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 2.32%(c) | ||||||||||
(Cost $2,205,013) | 2,205,013 | 2,205,013 | ||||||||
Investment of Cash Collateral For Securities Loaned — 8.8% | ||||||||||
Money Market Fund — 8.8% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(c) | ||||||||||
(Cost $86,985,349) | 86,985,349 | 86,985,349 | ||||||||
Total Investments — 108.9% | ||||||||||
(Cost $1,066,219,028) | 1,081,834,254 | |||||||||
Other Assets and Liabilities, Net — (8.9)% | (88,412,182 | ) | ||||||||
Net Assets — 100.0% | $ | 993,422,072 |
* | 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 $169,075,017; total market value of collateral held by the Fund was $172,575,536. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $85,590,187. |
(b) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $1,304,490. |
(c) | Reflects the 1-day yield at April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF(continued)
April 30, 2019
Total Return Benchmark | Counterparties | Annual Financing Rate Received (Paid)% | Expiration Date | Payment Frequency Received/ (Paid) | Notional Amount Long (Short) | Value/ Unrealized Appreciation/ (Depreciation)(d) | ||||||||||||
Consumer Discretionary Select Sector SPDR Fund | Morgan Stanley | 2.10 | 7/02/2020 | Monthly | $ | (1,436,758 | ) | $ | — | |||||||||
Consumer Discretionary Select Sector SPDR Fund | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (1,436,758 | ) | — | |||||||||||
Energy Select Sector SPDR Fund | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 411,799 | — | ||||||||||||
Energy Select Sector SPDR Fund | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 411,799 | — | ||||||||||||
Financial Select Sector SPDR Fund | Morgan Stanley | 2.10 | 7/02/2020 | Monthly | (3,120,139 | ) | — | |||||||||||
FlexShares Global Upstream Natural Resources Index Fund | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 131,283 | — | ||||||||||||
FlexShares Global Upstream Natural Resources Index Fund | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 131,283 | — | ||||||||||||
Goldman Sachs Access Treasury 0-1 Year ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 1,448,789 | — | ||||||||||||
Goldman Sachs Access Treasury 0-1 Year ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 1,448,789 | — | ||||||||||||
Graniteshares Gold Trust | Morgan Stanley | (6.14 | ) | 7/02/2020 | Monthly | (15,885 | ) | — | ||||||||||
Graniteshares Gold Trust | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (15,885 | ) | — | |||||||||||
Health Care Select Sector SPDR Fund | Morgan Stanley | 2.10 | 7/02/2020 | Monthly | (1,231,788 | ) | — | |||||||||||
Invesco CurrencyShares Australian Dollar Trust | Morgan Stanley | (2.89 | ) | 7/02/2020 | Monthly | (1,238,016 | ) | — | ||||||||||
Invesco CurrencyShares Australian Dollar Trust | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (1,238,016 | ) | — | |||||||||||
Invesco CurrencyShares British Pound Sterling Trust | Morgan Stanley | (4.49 | ) | 7/02/2020 | Monthly | (18,215 | ) | — | ||||||||||
Invesco CurrencyShares British Pound Sterling Trust | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (18,215 | ) | — | |||||||||||
Invesco CurrencyShares Euro Currency Trust | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 1,242,276 | — | ||||||||||||
Invesco CurrencyShares Euro Currency Trust | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 1,242,276 | — | ||||||||||||
Invesco CurrencyShares Japanese Yen Trust | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 733,163 | — | ||||||||||||
Invesco CurrencyShares Japanese Yen Trust | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 733,163 | — | ||||||||||||
Invesco DB U.S. Dollar Index Bullish Fund | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 640,066 | — | ||||||||||||
Invesco DB U.S. Dollar Index Bullish Fund | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 640,066 | — | ||||||||||||
Invesco KBW Bank ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 49,984 | — | ||||||||||||
Invesco KBW Bank ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 49,984 | — | ||||||||||||
Invesco Preferred ETF | Morgan Stanley | 2.10 | 7/02/2020 | Monthly | (300,883 | ) | — | |||||||||||
Invesco Preferred ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (300,883 | ) | — | |||||||||||
Invesco S&P 500 Low Volatility ETF | Morgan Stanley | (0.24 | ) | 7/02/2020 | Monthly | (1,928,784 | ) | — | ||||||||||
Invesco S&P 500 Low Volatility ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (1,928,784 | ) | — | |||||||||||
Invesco Senior Loan ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 3,070,538 | — | ||||||||||||
Invesco Senior Loan ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 3,070,538 | — | ||||||||||||
Invesco Treasury Collateral ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 247,726 | — | ||||||||||||
Invesco Treasury Collateral ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 247,726 | — | ||||||||||||
iShares 0-5 Year High Yield Corporate Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 403,043 | — | ||||||||||||
iShares 0-5 Year High Yield Corporate Bond ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 403,043 | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF(continued)
April 30, 2019
Total Return Benchmark | Counterparties | Annual Financing Rate Received (Paid)% | Expiration Date | Payment Frequency Received/ (Paid) | Notional Amount Long (Short) | Value/ Unrealized Appreciation/ (Depreciation)(d) | ||||||||||||
iShares 20+ Year Treasury Bond ETF | Morgan Stanley | 1.76 | 7/02/2020 | Monthly | $ | (2,121,587 | ) | $ | — | |||||||||
iShares 20+ Year Treasury Bond ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (2,121,587 | ) | — | |||||||||||
iShares 3-7 Year Treasury Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 481,684 | — | ||||||||||||
iShares 3-7 Year Treasury Bond ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 481,684 | — | ||||||||||||
iShares Broad USD Investment Grade Corporate Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 130,366 | — | ||||||||||||
iShares Broad USD Investment Grade Corporate Bond ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 130,366 | — | ||||||||||||
iShares China Large-Cap ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 1,880,325 | — | ||||||||||||
iShares Core MSCI EAFE ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 69,692 | — | ||||||||||||
iShares Core MSCI EAFE ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 69,692 | — | ||||||||||||
iShares Core MSCI Emerging Markets ETF | Morgan Stanley | 2.10 | 7/02/2020 | Monthly | (3,209,871 | ) | — | |||||||||||
iShares Core MSCI Emerging Markets ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (3,209,871 | ) | — | |||||||||||
iShares Core MSCI Europe ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 64,204 | — | ||||||||||||
iShares Core MSCI Europe ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 64,204 | — | ||||||||||||
iShares Core MSCI Pacific ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 293,886 | — | ||||||||||||
iShares Core MSCI Pacific ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 293,886 | — | ||||||||||||
iShares Core S&P U.S. Growth ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 94,649 | — | ||||||||||||
iShares Core S&P U.S. Growth ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 94,649 | — | ||||||||||||
iShares Core S&P U.S. Value ETF | Morgan Stanley | (2.44 | ) | 7/02/2020 | Monthly | (591,260 | ) | — | ||||||||||
iShares Core S&P U.S. Value ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (590,846 | ) | — | |||||||||||
iShares Core U.S. REIT ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 4,385 | — | ||||||||||||
iShares Core U.S. REIT ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 4,385 | — | ||||||||||||
iShares Edge MSCI Min Vol Emerging Markets ETF | Morgan Stanley | 2.10 | 7/02/2020 | Monthly | (1,850,415 | ) | — | |||||||||||
iShares Edge MSCI Min Vol Emerging Markets ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (1,850,415 | ) | — | |||||||||||
iShares Edge MSCI Min Vol USA ETF | Morgan Stanley | 1.76 | 7/02/2020 | Monthly | (4,739,531 | ) | — | |||||||||||
iShares Edge MSCI Min Vol USA ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (4,739,531 | ) | — | |||||||||||
iShares Edge MSCI USA Momentum Factor ETF | Morgan Stanley | 1.39 | 7/02/2020 | Monthly | (1,602,613 | ) | — | |||||||||||
iShares Edge MSCI USA Momentum Factor ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (1,602,613 | ) | — | |||||||||||
iShares Floating Rate Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 3,801,922 | — | ||||||||||||
iShares Floating Rate Bond ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 3,801,922 | — | ||||||||||||
iShares iBoxx High Yield Corporate Bond ETF | Morgan Stanley | 1.26 | 7/02/2020 | Monthly | (956,601 | ) | — | |||||||||||
iShares iBoxx High Yield Corporate Bond ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (956,601 | ) | — | |||||||||||
iShares J.P. Morgan USD Emerging Markets Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 981,502 | — | ||||||||||||
iShares J.P. Morgan USD Emerging Markets Bond ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 981,502 | — | ||||||||||||
iShares MBS ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 1,199,065 | — | ||||||||||||
iShares MBS ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 1,199,065 | — | �� | |||||||||||
iShares MSCI All Country Asia ex Japan ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 326,687 | — | ||||||||||||
iShares MSCI All Country Asia ex Japan ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 326,687 | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF(continued)
April 30, 2019
Total Return Benchmark | Counterparties | Annual Financing Rate Received (Paid)% | Expiration Date | Payment Frequency Received/ (Paid) | Notional Amount Long (Short) | Value/ Unrealized Appreciation/ (Depreciation)(d) | ||||||||||||
iShares MSCI China ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | $ | 1,369,428 | $ | — | ||||||||||
iShares MSCI EAFE Growth ETF | Morgan Stanley | (6.49 | ) | 7/02/2020 | Monthly | (1,464,844 | ) | — | ||||||||||
iShares MSCI EAFE Growth ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (1,464,844 | ) | — | |||||||||||
iShares MSCI Eurozone ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 130,304 | — | ||||||||||||
iShares MSCI Eurozone ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 130,304 | — | ||||||||||||
iShares MSCI Japan ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 154,788 | — | ||||||||||||
iShares MSCI Japan ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 154,788 | — | ||||||||||||
iShares Preferred & Income Securities ETF | Morgan Stanley | 1.76 | 7/02/2020 | Monthly | (905,173 | ) | — | |||||||||||
iShares Preferred & Income Securities ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (905,173 | ) | — | |||||||||||
iShares Russell 2000 ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 235,219 | — | ||||||||||||
iShares Russell 2000 ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 235,219 | — | ||||||||||||
iShares Russell 2000 Growth ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 422,352 | — | ||||||||||||
iShares Russell 2000 Growth ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 422,352 | — | ||||||||||||
iShares Russell 2000 Value ETF | Morgan Stanley | 1.64 | 7/02/2020 | Monthly | (2,173,661 | ) | — | |||||||||||
iShares Russell 2000 Value ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (2,173,661 | ) | — | |||||||||||
iShares S&P Small-Cap 600 Growth ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 257,774 | — | ||||||||||||
iShares S&P Small-Cap 600 Growth ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 257,774 | — | ||||||||||||
iShares S&P Small-Cap 600 Value ETF | Morgan Stanley | 2.10 | 7/02/2020 | Monthly | (1,476,459 | ) | — | |||||||||||
iShares S&P Small-Cap 600 Value ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (1,476,459 | ) | — | |||||||||||
iShares Short Treasury Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 8,980,015 | — | ||||||||||||
iShares Short Treasury Bond ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 8,980,015 | — | ||||||||||||
iShares Silver Trust | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 422,409 | — | ||||||||||||
iShares Silver Trust | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 422,409 | — | ||||||||||||
Schwab Intermediate-Term U.S. Treasury ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 257,827 | — | ||||||||||||
Schwab Intermediate-Term U.S. Treasury ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 257,827 | — | ||||||||||||
Schwab International Small-Cap Equity ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 743,713 | — | ||||||||||||
Schwab International Small-Cap Equity ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 743,713 | — | ||||||||||||
Schwab U.S. Large-Cap Growth ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 113,765 | — | ||||||||||||
Schwab U.S. Large-Cap Growth ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 113,765 | — | ||||||||||||
Schwab U.S. Large-Cap Value ETF | Morgan Stanley | (2.19 | ) | 7/02/2020 | Monthly | (654,286 | ) | — | ||||||||||
Schwab U.S. Large-Cap Value ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (654,286 | ) | — | |||||||||||
Schwab U.S. REIT ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 19,288 | — | ||||||||||||
Schwab U.S. REIT ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 19,288 | — | ||||||||||||
Schwab U.S. Small-Cap ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 43,192 | — | ||||||||||||
Schwab U.S. Small-Cap ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 43,192 | — | ||||||||||||
SPDR Blackstone / GSO Senior Loan ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 1,209,339 | — | ||||||||||||
SPDR Blackstone / GSO Senior Loan ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 1,209,339 | — | ||||||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 3,728,303 | — | ||||||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 3,728,303 | — | ||||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 42,907 | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF(continued)
April 30, 2019
Total Return Benchmark | Counterparties | Annual Financing Rate Received (Paid)% | Expiration Date | Payment Frequency Received/ (Paid) | Notional Amount Long (Short) | Value/ Unrealized Appreciation/ (Depreciation)(d) | ||||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | $ | 42,907 | $ | — | ||||||||||
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 121,050 | — | ||||||||||||
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 121,050 | — | ||||||||||||
SPDR Bloomberg Barclays High Yield Bond ETF | Morgan Stanley | 1.26 | 7/02/2020 | Monthly | (555,983 | ) | — | |||||||||||
SPDR Bloomberg Barclays High Yield Bond ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (555,983 | ) | — | |||||||||||
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 1,467,525 | — | ||||||||||||
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 1,467,525 | — | ||||||||||||
SPDR Bloomberg Barclays Short Term High Yield Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 506,379 | — | ||||||||||||
SPDR Bloomberg Barclays Short Term High Yield Bond ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 506,379 | — | ||||||||||||
SPDR Dow Jones International Real Estate ETF | Morgan Stanley | 1.71 | 7/02/2020 | Monthly | (2,942,767 | ) | — | |||||||||||
SPDR Dow Jones International Real Estate ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (2,942,767 | ) | — | |||||||||||
SPDR Gold MiniShares Trust | Morgan Stanley | 1.96 | 7/02/2020 | Monthly | (22,256 | ) | — | |||||||||||
SPDR Gold MiniShares Trust | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (22,256 | ) | — | |||||||||||
SPDR Gold Shares | Morgan Stanley | 2.10 | 7/02/2020 | Monthly | (1,123,160 | ) | — | |||||||||||
SPDR Gold Shares | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (1,123,160 | ) | — | |||||||||||
SPDR Portfolio Long Term Treasury ETF | Morgan Stanley | (0.99 | ) | 7/02/2020 | Monthly | (362,143 | ) | — | ||||||||||
SPDR Portfolio Long Term Treasury ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (362,143 | ) | — | |||||||||||
SPDR Portfolio S&P 500 Growth ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 71,674 | — | ||||||||||||
SPDR Portfolio S&P 500 Growth ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 71,674 | — | ||||||||||||
SPDR Portfolio S&P 500 Value ETF | Morgan Stanley | (7.49 | ) | 7/02/2020 | Monthly | (285,355 | ) | — | ||||||||||
SPDR Portfolio S&P 500 Value ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (285,355 | ) | — | |||||||||||
SPDR Portfolio Short Term Corporate Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 337,046 | — | ||||||||||||
SPDR Portfolio Short Term Corporate Bond ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 337,046 | — | ||||||||||||
SPDR S&P Bank ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 194,788 | — | ||||||||||||
SPDR S&P Bank ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 194,788 | — | ||||||||||||
SPDR S&P China ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 433,449 | — | ||||||||||||
SPDR S&P Emerging Markets SmallCap ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 1,133,810 | — | ||||||||||||
SPDR S&P Emerging Markets SmallCap ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 1,133,810 | — | ||||||||||||
Technology Select Sector SPDR Fund | Morgan Stanley | 2.10 | 7/02/2020 | Monthly | (201,261 | ) | — | |||||||||||
VanEck Vectors High-Yield Municipal Index ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 208,126 | — | ||||||||||||
VanEck Vectors High-Yield Municipal Index ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 208,126 | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF(continued)
April 30, 2019
Total Return Benchmark | Counterparties | Annual Financing Rate Received (Paid)% | Expiration Date | Payment Frequency Received/ (Paid) | Notional Amount Long (Short) | Value/ Unrealized Appreciation/ (Depreciation)(d) | ||||||||||||
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | $ | 868,936 | $ | — | ||||||||||
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 868,936 | — | ||||||||||||
Vanguard Emerging Markets Government Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 70,083 | — | ||||||||||||
Vanguard Emerging Markets Government Bond ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 70,083 | — | ||||||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 1,895,810 | — | ||||||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 1,895,810 | — | ||||||||||||
Vanguard FTSE Developed Markets ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 81,286 | — | ||||||||||||
Vanguard FTSE Developed Markets ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 81,286 | — | ||||||||||||
Vanguard FTSE Emerging Markets ETF | Morgan Stanley | 2.10 | 7/02/2020 | Monthly | (3,458,084 | ) | — | |||||||||||
Vanguard FTSE Emerging Markets ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (3,458,084 | ) | — | |||||||||||
Vanguard FTSE Europe ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 261,224 | — | ||||||||||||
Vanguard FTSE Europe ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 261,224 | — | ||||||||||||
Vanguard FTSE Pacific ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 74,404 | — | ||||||||||||
Vanguard FTSE Pacific ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 74,404 | — | ||||||||||||
Vanguard Growth ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 610,081 | — | ||||||||||||
Vanguard Growth ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 610,081 | — | ||||||||||||
Vanguard Intermediate-Term Corporate Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 2,637,537 | — | ||||||||||||
Vanguard Intermediate-Term Corporate Bond ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 2,637,537 | — | ||||||||||||
Vanguard Intermediate-Term Treasury ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 242,362 | — | ||||||||||||
Vanguard Intermediate-Term Treasury ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 242,362 | — | ||||||||||||
Vanguard Long-Term Treasury ETF | Morgan Stanley | 2.10 | 7/02/2020 | Monthly | (191,595 | ) | — | |||||||||||
Vanguard Long-Term Treasury ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (191,595 | ) | — | |||||||||||
Vanguard Mortgage-Backed Securities ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 640,890 | — | ||||||||||||
Vanguard Mortgage-Backed Securities ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 640,890 | — | ||||||||||||
Vanguard Real Estate ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 122,780 | — | ||||||||||||
Vanguard Real Estate ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 122,780 | — | ||||||||||||
Vanguard Short-Term Corporate Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 1,573,472 | — | ||||||||||||
Vanguard Short-Term Corporate Bond ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 1,573,472 | — | ||||||||||||
Vanguard Small-Cap ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 132,480 | — | ||||||||||||
Vanguard Small-Cap ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 132,480 | — | ||||||||||||
Vanguard Small-Cap Growth ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 400,154 | — | ||||||||||||
Vanguard Small-Cap Growth ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 400,154 | — | ||||||||||||
Vanguard Small-Cap Value ETF | Morgan Stanley | 1.01 | 7/02/2020 | Monthly | (3,133,060 | ) | — | |||||||||||
Vanguard Small-Cap Value ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (3,133,060 | ) | — | |||||||||||
Vanguard Value ETF | Morgan Stanley | 1.51 | 7/02/2020 | Monthly | (5,221,630 | ) | — | |||||||||||
Vanguard Value ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (5,221,630 | ) | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Multi-Strategy Tracker ETF(continued)
April 30, 2019
Total Return Benchmark | Counterparties | Annual Financing Rate Received (Paid)% | Expiration Date | Payment Frequency Received/ (Paid) | Notional Amount Long (Short) | Value/ Unrealized Appreciation/ (Depreciation)(d) | ||||||||||||
WisdomTree Emerging Markets Local Debt Fund | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | $ | 30,579 | $ | — | ||||||||||
WisdomTree Emerging Markets Local Debt Fund | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 30,579 | — | ||||||||||||
Xtrackers MSCI EAFE Hedged Equity ETF | Morgan Stanley | (0.24 | ) | 7/02/2020 | Monthly | (4,057,544 | ) | — | ||||||||||
Xtrackers MSCI EAFE Hedged Equity ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (4,057,544 | ) | — | |||||||||||
Xtrackers MSCI Europe Hedged Equity ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 1,162,722 | — | ||||||||||||
Xtrackers MSCI Europe Hedged Equity ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 1,162,722 | — | ||||||||||||
Xtrackers MSCI Japan Hedged Equity ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 1,001,004 | — | ||||||||||||
Xtrackers MSCI Japan Hedged Equity ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | 1,001,004 | — | ||||||||||||
Xtrackers USD High Yield Corporate Bond ETF | Morgan Stanley | 2.10 | 7/02/2020 | Monthly | (161,089 | ) | — | |||||||||||
Xtrackers USD High Yield Corporate Bond ETF | Bank of America Merrill Lynch | 2.99 | 9/30/2020 | Monthly | (161,089 | ) | — | |||||||||||
$ | — |
(d) | Reflects the value at reset date of April 30, 2019. |
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(e) | ||||||||||||||||||
Exchange Traded Vehicles | $ | 59,981,309 | $ | — | $ | — | $ | 59,981,309 | ||||||||||
Investment Companies | 932,662,583 | — | — | 932,662,583 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 2,205,013 | — | — | 2,205,013 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 86,985,349 | — | — | 86,985,349 | ||||||||||||||
Total Investments in Securities | 1,081,834,254 | — | — | 1,081,834,254 | ||||||||||||||
Other Financial Instruments:(f) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 1,081,834,254 | $ | — | $ | — | $ | 1,081,834,254 | ||||||||||
Liability Valuation Inputs | ||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(f) | ||||||||||||||||||
Swap Contracts | $ | — | $ | — | $ | — | $ | — |
(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 Macro Tracker ETF
April 30, 2019
Shares | Value | |||||||||
Exchange Traded Vehicles — 8.7% | ||||||||||
Euro Fund — 2.0% | ||||||||||
Invesco CurrencyShares Euro Currency Trust*(a) | 975 | $ | 104,218 | |||||||
Japanese Yen Fund — 2.5% | ||||||||||
Invesco CurrencyShares Japanese Yen Trust* | 1,577 | 134,865 | ||||||||
Silver Fund — 1.6% | ||||||||||
iShares Silver Trust*(a) | 5,926 | 83,082 | ||||||||
U.S. Dollar Fund — 2.6% | ||||||||||
Invesco DB U.S. Dollar Index Bullish Fund | 5,216 | 136,503 | ||||||||
Total Exchange Traded Vehicles | ||||||||||
(Cost $463,671) | 458,668 | |||||||||
Investment Companies — 91.2% | ||||||||||
BRIC Equity Funds — 9.5% | ||||||||||
iShares China Large-Cap ETF | 5,739 | 255,328 | ||||||||
iShares MSCI China ETF(a) | 2,927 | 185,923 | ||||||||
SPDR S&P China ETF(a) | 577 | 58,820 | ||||||||
Total BRIC Equity Funds | 500,071 | |||||||||
Broad Fund — 0.7% | ||||||||||
FlexShares Global Upstream Natural Resources Index Fund | 1,085 | 35,664 | ||||||||
Emerging Bonds — USD Funds — 2.6% | ||||||||||
iShares J.P. Morgan USD Emerging Markets Bond ETF | 1,151 | 126,380 | ||||||||
Vanguard Emerging Markets Government Bond ETF | 115 | 8,985 | ||||||||
Total Emerging Bond — USD Funds | 135,365 | |||||||||
Emerging Bonds — Local Currency Funds — 2.5% | ||||||||||
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | 599 | 15,999 | ||||||||
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 3,465 | 114,761 | ||||||||
WisdomTree Emerging Markets Local Debt Fund | 118 | 4,023 | ||||||||
Total Emerging Bonds Local Currency Funds | 134,783 | |||||||||
Emerging Small Cap Equity Fund — 2.6% | ||||||||||
SPDR S&P Emerging Markets SmallCap ETF | 3,046 | 137,161 | ||||||||
Europe Equity Fund — 4.4% | ||||||||||
Xtrackers MSCI Europe Hedged Equity ETF | 7,871 | 232,746 | ||||||||
Floating Rate — Investment Grade Funds — 14.6% | ||||||||||
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF(a) | 6,914 | 212,398 | ||||||||
iShares Floating Rate Bond ETF(a) | 10,797 | 550,215 | ||||||||
Total Floating Rate — Investment Grade Funds | 762,613 | |||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
International Small Cap Equity Funds — 6.0% | ||||||||||
Schwab International Small-Cap Equity ETF | 2,654 | $ | 88,113 | |||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | 2,105 | 224,624 | ||||||||
Total International Small Cap Equity Funds | 312,737 | |||||||||
Investment Grade Corporate Bond Funds — 5.7% | ||||||||||
iShares Broad USD Investment Grade Corporate Bond ETF(a) | 4 | 221 | ||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | 20 | 2,385 | ||||||||
SPDR Portfolio Short Term Corporate Bond ETF | 1,706 | 52,135 | ||||||||
Vanguard Intermediate-Term Corporate Bond ETF(a) | 18 | 1,566 | ||||||||
Vanguard Short-Term Corporate Bond ETF(a) | 3,052 | 243,336 | ||||||||
Total Investment Grade Corporate Bond Funds | 299,643 | |||||||||
Japan Equity Fund — 3.8% | ||||||||||
Xtrackers MSCI Japan Hedged Equity ETF | 4,930 | 200,355 | ||||||||
U.S. Large Cap Core Fund — 1.0% | ||||||||||
Energy Select Sector SPDR Fund(a) | 802 | 53,020 | ||||||||
U.S. Large Cap Growth Funds — 1.2% | ||||||||||
iShares Core S&P U.S. Growth ETF(a) | 106 | 6,640 | ||||||||
Schwab U.S. Large-Cap Growth ETF | 96 | 7,972 | ||||||||
SPDR Portfolio S&P 500 Growth ETF | 130 | 5,028 | ||||||||
Vanguard Growth ETF | 261 | 42,747 | ||||||||
Total U.S. Large Cap Growth Funds | 62,387 | |||||||||
U.S. Medium Term Treasury Bond Funds — 5.6% | ||||||||||
iShares 3-7 Year Treasury Bond ETF | 1,176 | 144,542 | ||||||||
Schwab Intermediate-Term U.S. Treasury ETF(a) | 1,444 | 77,369 | ||||||||
Vanguard Intermediate-Term Treasury ETF(a) | 1,132 | 72,754 | ||||||||
Total U.S. Medium Term Treasury Bond Fund | 294,665 | |||||||||
U.S. Ultra Short Term Treasury Bond Funds — 28.9% | ||||||||||
Goldman Sachs Access Treasury 0-1 Year ETF(a) | 1,520 | 152,441 | ||||||||
Invesco Treasury Collateral ETF | 247 | 26,059 | ||||||||
iShares Short Treasury Bond ETF(b) | 8,546 | 944,846 | ||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF(a) | 4,283 | 392,323 | ||||||||
Total U.S. Short Term Treasury Bond Funds | 1,515,669 |
See notes to financial statements.
Schedules of Investments — IQ Hedge Macro Tracker ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Small Cap Core Funds — 2.1% | ||||||||||
iShares Russell 2000 ETF(a) | 404 | $ | 63,949 | |||||||
Schwab U.S. Small-Cap ETF | 162 | 11,740 | ||||||||
Vanguard Small-Cap ETF | 227 | 35,930 | ||||||||
Total U.S. Small Cap Core Funds | 111,619 | |||||||||
Total Investment Companies | ||||||||||
(Cost $4,729,843) | 4,788,498 | |||||||||
Short-Term Investment — 0.2% | ||||||||||
Money Market Fund — 0.2% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 2.32%(c) | ||||||||||
(Cost $8,347) | 8,347 | 8,347 | ||||||||
Investment of Cash Collateral For Securities Loaned — 18.9% | ||||||||||
Money Market Fund — 18.9% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(c) | ||||||||||
(Cost $991,018) | 991,018 | 991,018 | ||||||||
Total Investments — 119.0% | ||||||||||
(Cost $6,192,879) | 6,246,531 | |||||||||
Other Assets and Liabilities, Net — (19.0)% | (995,067 | ) | ||||||||
Net Assets — 100.0% | $ | 5,251,464 |
* | 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 $1,199,595; total market value of collateral held by the Fund was $1,224,694. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $233,676. |
(b) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $262,004. |
(c) | Reflects the 1-day yield at April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Macro Tracker ETF(continued)
April 30, 2019
Total Return Benchmark | Counterparty | Annual Financing Rate Received (Paid)% | Expiration Date | Payment Frequency Received/ (Paid) | Notional Amount Long (Short) | Value/ Unrealized Appreciation/ (Depreciation)(d) | ||||||||||||
Energy Select Sector SPDR Fund | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | $ | 5,289 | $ | — | ||||||||||
FlexShares Global Upstream Natural Resources Index Fund | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 3,583 | — | ||||||||||||
Goldman Sachs Access Treasury 0-1 Year ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 15,244 | — | ||||||||||||
Graniteshares Gold Trust | Morgan Stanley | (6.14 | ) | 5/04/2020 | Monthly | (422 | ) | — | ||||||||||
Invesco CurrencyShares Euro Currency Trust | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 10,475 | — | ||||||||||||
Invesco CurrencyShares Japanese Yen Trust | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 13,512 | — | ||||||||||||
Invesco DB US Dollar Index Bullish Fund | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 13,687 | — | ||||||||||||
Invesco Treasury Collateral ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 2,638 | — | ||||||||||||
iShares 20+ Year Treasury Bond ETF | Morgan Stanley | 1.76 | 5/04/2020 | Monthly | (41,052 | ) | — | |||||||||||
iShares 3-7 Year Treasury Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 14,503 | — | ||||||||||||
iShares China Large-Cap ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 25,582 | — | ||||||||||||
iShares Core MSCI Emerging Markets ETF | Morgan Stanley | 2.10 | 5/04/2020 | Monthly | (29,802 | ) | — | |||||||||||
iShares Core MSCI Europe ETF | Morgan Stanley | 2.10 | 5/04/2020 | Monthly | (7,775 | ) | — | |||||||||||
iShares Core S&P U.S. Growth ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 689 | — | ||||||||||||
iShares Core S&P U.S. Value ETF | Morgan Stanley | (2.44 | ) | 5/04/2020 | Monthly | (3,883 | ) | — | ||||||||||
iShares Edge MSCI Min Vol Emerging Markets ETF | Morgan Stanley | 2.10 | 5/04/2020 | Monthly | (78,728 | ) | — | |||||||||||
iShares Floating Rate Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 55,139 | — | ||||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF | Morgan Stanley | 1.26 | 5/04/2020 | Monthly | (30,429 | ) | — | |||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 238 | — | ||||||||||||
iShares J.P. Morgan USD Emerging Markets Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 12,627 | — | ||||||||||||
iShares MSCI China ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 18,611 | — | ||||||||||||
iShares MSCI Eurozone ETF | Morgan Stanley | 1.14 | 5/04/2020 | Monthly | (15,766 | ) | — | |||||||||||
iShares MSCI Japan ETF | Morgan Stanley | 2.10 | 5/04/2020 | Monthly | (53,647 | ) | — | |||||||||||
iShares Russell 2000 ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 6,332 | — | ||||||||||||
iShares Short Treasury Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 94,639 | — | ||||||||||||
iShares Silver Trust | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 8,328 | — | ||||||||||||
Schwab Intermediate-Term U.S. Treasury ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 7,769 | — | ||||||||||||
Schwab International Small-Cap Equity ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 8,831 | — | ||||||||||||
Schwab U.S. Large-Cap Growth ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 830 | — | ||||||||||||
Schwab U.S. Large-Cap Value ETF | Morgan Stanley | (2.19 | ) | 5/04/2020 | Monthly | (4,242 | ) | — | ||||||||||
Schwab U.S. Small-Cap ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 1,160 | — | ||||||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 39,296 | — | ||||||||||||
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 1,603 | — | ||||||||||||
SPDR Bloomberg Barclays High Yield Bond ETF | Morgan Stanley | 1.26 | 5/04/2020 | Monthly | (17,700 | ) | — | |||||||||||
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 21,289 | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Macro Tracker ETF(continued)
April 30, 2019
Total Return Benchmark | Counterparty | Annual Financing Rate Received (Paid) % | Expiration Date | Payment Frequency Received/ (Paid) | Notional Amount Long (Short) | Value/ Unrealized Appreciation/ (Depreciation)(d) | ||||||||||||
SPDR Dow Jones International Real Estate ETF | Morgan Stanley | 1.71 | 5/04/2020 | Monthly | $ | (95,563 | ) | $ | — | |||||||||
SPDR Gold Shares | Morgan Stanley | 2.10 | 5/04/2020 | Monthly | (30,179 | ) | — | |||||||||||
SPDR Portfolio Long Term Treasury ETF | Morgan Stanley | (0.99 | ) | 5/04/2020 | Monthly | (7,019 | ) | — | ||||||||||
SPDR Portfolio S&P 500 Growth ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 503 | — | ||||||||||||
SPDR Portfolio S&P 500 Value ETF | Morgan Stanley | (7.49 | ) | 5/04/2020 | Monthly | (1,859 | ) | — | ||||||||||
SPDR Portfolio Short Term Corporate Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 5,226 | — | ||||||||||||
SPDR S&P China ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 5,913 | — | ||||||||||||
SPDR S&P Emerging Markets SmallCap ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 13,734 | — | ||||||||||||
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 11,493 | — | ||||||||||||
Vanguard Emerging Markets Government Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 938 | — | ||||||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 22,516 | — | ||||||||||||
Vanguard FTSE Emerging Markets ETF | Morgan Stanley | 2.10 | 5/04/2020 | Monthly | (32,123 | ) | — | |||||||||||
Vanguard FTSE Europe ETF | Morgan Stanley | 1.96 | 5/04/2020 | Monthly | (31,588 | ) | — | |||||||||||
Vanguard Growth ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 4,258 | — | ||||||||||||
Vanguard Intermediate-Term Corporate Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 174 | — | ||||||||||||
Vanguard Intermediate-Term Treasury ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 7,263 | — | ||||||||||||
Vanguard Long-Term Treasury ETF | Morgan Stanley | 2.10 | 5/04/2020 | Monthly | (3,728 | ) | — | |||||||||||
Vanguard Short-Term Corporate Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 24,397 | — | ||||||||||||
Vanguard Small-Cap ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 3,640 | — | ||||||||||||
Vanguard Value ETF | Morgan Stanley | 1.51 | 5/04/2020 | Monthly | (34,043 | ) | — | |||||||||||
WisdomTree Emerging Markets Local Debt Fund | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 409 | — | ||||||||||||
Xtrackers MSCI Europe Hedged Equity ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 23,331 | — | ||||||||||||
Xtrackers MSCI Japan Hedged Equity ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 20,076 | — | ||||||||||||
Xtrackers USD High Yield Corporate Bond ETF | Morgan Stanley | 2.10 | 5/04/2020 | Monthly | (5,109 | ) | — | |||||||||||
$ | — |
(d) | Reflects the value at reset date of April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Macro Tracker ETF(continued)
April 30, 2019
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(e) | ||||||||||||||||||
Exchange Traded Vehicles | $ | 458,668 | $ | — | $ | — | $ | 458,668 | ||||||||||
Investment Companies | 4,788,498 | — | — | 4,788,498 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 8,347 | — | — | 8,347 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 991,018 | — | — | 991,018 | ||||||||||||||
Total Investments in Securities | 6,246,531 | — | — | 6,246,531 | ||||||||||||||
Other Financial Instruments:(f) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 6,246,531 | $ | — | $ | — | $ | 6,246,531 | ||||||||||
Liability Valuation Inputs | ||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(f) | ||||||||||||||||||
Swap Contracts | $ | — | $ | — | $ | — | $ | — |
(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, 2019
Shares | Value | |||||||||
Exchange Traded Vehicle — 2.5% | ||||||||||
Euro Fund — 2.5% | ||||||||||
Invesco CurrencyShares Euro Currency Trust*(a) | ||||||||||
(Cost $395,792) | 3,652 | $ | 390,362 | |||||||
Investment Companies — 97.5% | ||||||||||
Asia ex Japan Equity Funds — 2.4% | ||||||||||
iShares Core MSCI Pacific ETF(a) | 2,903 | 163,439 | ||||||||
iShares MSCI All Country Asia ex Japan ETF | 2,514 | 181,662 | ||||||||
Vanguard FTSE Pacific ETF | 621 | 41,402 | ||||||||
Total Asia ex Japan Equity Funds | 386,503 | |||||||||
Bank Loan Funds — 11.2% | ||||||||||
Invesco Senior Loan ETF(a) | 55,240 | 1,268,863 | ||||||||
SPDR Blackstone / GSO Senior Loan ETF(a) | 10,667 | 499,749 | ||||||||
Total Bank Loan Funds | 1,768,612 | |||||||||
Europe Equity Funds — 3.0% | ||||||||||
iShares Core MSCI Europe ETF | 1,380 | 65,826 | ||||||||
iShares MSCI Eurozone ETF(a) | 3,295 | 133,546 | ||||||||
Vanguard FTSE Europe ETF | 4,806 | 267,742 | ||||||||
Total Europe Equity Funds | 467,114 | |||||||||
Floating Rate — Investment Grade Funds — 5.6% | ||||||||||
iShares Floating Rate Bond ETF(a) | 12,564 | 640,262 | ||||||||
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF(a) | 8,045 | 247,142 | ||||||||
Total Floating Rate — Investment Grade Funds | 887,404 | |||||||||
High Yield Corporate Bond Funds — 2.1% | ||||||||||
iShares 0-5 Year High Yield Corporate Bond ETF | 3,101 | 145,313 | ||||||||
SPDR Bloomberg Barclays Short Term High Yield Bond ETF(a) | 6,673 | 182,573 | ||||||||
Total High Yield Corporate Bond Funds | 327,886 | |||||||||
International Small Cap Equity Funds — 7.4% | ||||||||||
Schwab International Small-Cap Equity ETF | 9,866 | 327,551 | ||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | 7,824 | 834,899 | ||||||||
Total International Small Cap Equity Funds | 1,162,450 | |||||||||
Investment Grade Corporate Bond Funds — 12.3% | �� | |||||||||
iShares Broad USD Investment Grade Corporate Bond ETF(a) | 1,649 | 91,206 | ||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | 9,208 | 1,097,778 | ||||||||
Vanguard Intermediate-Term Corporate Bond ETF(a) | 8,580 | 746,374 | ||||||||
Total Investment Grade Corporate Bond Funds | 1,935,358 | |||||||||
Japan Equity Fund — 1.9% | ||||||||||
iShares MSCI Japan ETF | 5,305 | 294,003 | ||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
Mortgage Backed Securities Funds — 4.2% | ||||||||||
iShares MBS ETF | 4,079 | $ | 432,333 | |||||||
Vanguard Mortgage-Backed Securities ETF | 4,430 | 231,069 | ||||||||
Total Mortgage Backed Securities Funds | 663,402 | |||||||||
Municipal Bond — 0.5% | ||||||||||
Vaneck Vectors High-Yield Municipal Index ETF | 1,194 | 75,031 | ||||||||
U.S. Large Cap Core Funds — 0.6% | ||||||||||
Invesco KBW Bank ETF | 342 | 18,013 | ||||||||
SPDR S&P Bank ETF | 1,544 | 70,237 | ||||||||
Total U.S. Large Cap Core Funds | 88,250 | |||||||||
U.S. Large Cap Growth Funds — 1.5% | ||||||||||
iShares Core S&P U.S. Growth ETF(a) | 402 | 25,181 | ||||||||
Schwab U.S. Large-Cap Growth ETF | 364 | 30,227 | ||||||||
SPDR Portfolio S&P 500 Growth ETF | 493 | 19,069 | ||||||||
Vanguard Growth ETF | 991 | 162,306 | ||||||||
Total U.S. Large Cap Growth Funds | 236,783 | |||||||||
U.S. Small Cap Growth Funds — 3.0% | ||||||||||
iShares Russell 2000 Growth ETF(a) | 910 | 184,248 | ||||||||
iShares S&P Small-Cap 600 Growth ETF | 609 | 112,372 | ||||||||
Vanguard Small-Cap Growth ETF | 940 | 174,464 | ||||||||
Total U.S. Small Cap Growth Funds | 471,084 | |||||||||
U.S. Ultra Short Term Treasury Bond Funds — 41.8% | ||||||||||
Goldman Sachs Access Treasury 0-1 Year ETF | 6,598 | 661,713 | ||||||||
Invesco Treasury Collateral ETF | 1,073 | 113,207 | ||||||||
iShares Short Treasury Bond ETF | 37,099 | 4,101,666 | ||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF(a) | 18,590 | 1,702,844 | ||||||||
Total U.S. Ultra Short Term Treasury Bond Funds | 6,579,430 | |||||||||
Total Investment Companies | ||||||||||
(Cost $15,109,629) | 15,343,310 | |||||||||
Short-Term Investment — 0.2% | ||||||||||
Money Market Fund — 0.2% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 2.32%(b) | ||||||||||
(Cost $37,847) | 37,847 | 37,847 |
See notes to financial statements.
Schedules of Investments — IQ Hedge Market Neutral Tracker ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Investment of Cash Collateral For Securities Loaned — 16.6% | ||||||||||
Money Market Fund — 16.6% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(b) | ||||||||||
(Cost $2,613,985) | 2,613,985 | $ | 2,613,985 | |||||||
Total Investments — 116.8% | ||||||||||
(Cost $18,157,253) | 18,385,504 | |||||||||
Other Assets and Liabilities, Net — (16.8)% | (2,644,898 | ) | ||||||||
Net Assets — 100.0% | $ | 15,740,606 |
* | 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 $4,535,071; total market value of collateral held by the Fund was $4,628,711. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $2,014,726. |
(b) | Reflects the 1-day yield at April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Market Neutral Tracker ETF(continued)
April 30, 2019
Total Return Benchmark | Counterparty | Annual Financing Rate Received (Paid)% | Expiration Date | Payment Frequency Received/ (Paid) | Notional Amount Long (Short) | Value/ Unrealized Appreciation/ (Depreciation)(c) | ||||||||||||
Goldman Sachs Access Treasury 0-1 Year ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | $ | 66,593 | $ | — | ||||||||||
Invesco CurrencyShares Australian Dollar Trust | Morgan Stanley | (2.89 | ) | 5/04/2020 | Monthly | (59,282 | ) | — | ||||||||||
Invesco CurrencyShares British Pound Sterling Trust | Morgan Stanley | (4.49 | ) | 5/04/2020 | Monthly | (885 | ) | — | ||||||||||
Invesco CurrencyShares Euro Currency Trust | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 39,336 | — | ||||||||||||
Invesco DB U.S. Dollar Index Bullish Fund | Morgan Stanley | (3.89 | ) | 5/04/2020 | Monthly | (237,336 | ) | — | ||||||||||
Invesco KBW Bank ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 1,791 | — | ||||||||||||
Invesco Preferred ETF | Morgan Stanley | 2.10 | 5/04/2020 | Monthly | (8,973 | ) | — | |||||||||||
Invesco S&P 500 Low Volatility ETF | Morgan Stanley | (0.24 | ) | 5/04/2020 | Monthly | (69,740 | ) | — | ||||||||||
Invesco Senior Loan ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 127,690 | — | ||||||||||||
Invesco Treasury Collateral ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 11,395 | — | ||||||||||||
iShares 0-5 Year High Yield Corporate Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 14,620 | — | ||||||||||||
iShares 3-7 Year Treasury Bond ETF | Morgan Stanley | 1.51 | 5/04/2020 | Monthly | (61,455 | ) | — | |||||||||||
iShares Broad USD Investment Grade Corporate Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 9,181 | — | ||||||||||||
iShares Core MSCI Emerging Markets ETF | Morgan Stanley | 2.10 | 5/04/2020 | Monthly | (116,089 | ) | — | |||||||||||
iShares Core MSCI Europe ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 6,630 | — | ||||||||||||
iShares Core MSCI Pacific ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 16,440 | — | ||||||||||||
iShares Core S&P U.S. Growth ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 2,506 | — | ||||||||||||
iShares Core S&P U.S. Value ETF | Morgan Stanley | (2.44 | ) | 5/04/2020 | Monthly | (21,359 | ) | — | ||||||||||
iShares Edge MSCI Min Vol USA ETF | Morgan Stanley | 1.76 | 5/04/2020 | Monthly | (171,408 | ) | — | |||||||||||
iShares Floating Rate Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 64,413 | — | ||||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF | Morgan Stanley | 1.26 | 5/04/2020 | Monthly | (72,334 | ) | — | |||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 110,517 | — | ||||||||||||
iShares MBS ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 43,456 | — | ||||||||||||
iShares MSCI All Country Asia ex Japan ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 18,282 | — | ||||||||||||
iShares MSCI Eurozone ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 13,456 | — | ||||||||||||
iShares MSCI Japan ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 29,594 | — | ||||||||||||
iShares Preferred & Income Securities ETF | Morgan Stanley | 1.76 | 5/04/2020 | Monthly | (26,989 | ) | — | |||||||||||
iShares Russell 2000 Growth ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 18,627 | — | ||||||||||||
iShares Russell 2000 Value ETF | Morgan Stanley | 1.64 | 5/04/2020 | Monthly | (78,577 | ) | — | |||||||||||
iShares S&P Small-Cap 600 Growth ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 11,256 | — | ||||||||||||
iShares S&P Small-Cap 600 Value ETF | Morgan Stanley | 2.10 | 5/04/2020 | Monthly | (53,407 | ) | — | |||||||||||
iShares Short Treasury Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 412,720 | — | ||||||||||||
Schwab Intermediate-Term U.S. Treasury ETF | Morgan Stanley | (0.64 | ) | 5/04/2020 | Monthly | (32,898 | ) | — | ||||||||||
Schwab International Small-Cap Equity ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 32,968 | — | ||||||||||||
Schwab U.S. Large-Cap Growth ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 3,072 | — | ||||||||||||
Schwab U.S. Large-Cap Value ETF | Morgan Stanley | (2.19 | ) | 5/04/2020 | Monthly | (23,642 | ) | — | ||||||||||
SPDR Blackstone / GSO Senior Loan ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 50,317 | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Market Neutral Tracker ETF(continued)
April 30, 2019
Total Return Benchmark | Counterparty | Annual Financing Rate Received (Paid) % | Expiration Date | Payment Frequency Received/ (Paid) | Notional Amount Long (Short) | Value/ Unrealized Appreciation/ (Depreciation)(c) | ||||||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | $ | 171,384 | $ | — | ||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF | Morgan Stanley | 2.10 | 5/04/2020 | Monthly | (34,936 | ) | — | |||||||||||
SPDR Bloomberg Barclays High Yield Bond ETF | Morgan Stanley | 1.26 | 5/04/2020 | Monthly | (42,037 | ) | — | |||||||||||
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 24,883 | — | ||||||||||||
SPDR Bloomberg Barclays Short Term High Yield Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 18,386 | — | ||||||||||||
SPDR Portfolio S&P 500 Growth ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 1,934 | — | ||||||||||||
SPDR Portfolio S&P 500 Value ETF | Morgan Stanley | (7.49 | ) | 5/04/2020 | Monthly | (10,335 | ) | — | ||||||||||
SPDR S&P Bank ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 7,051 | — | ||||||||||||
VanEck Vectors High-Yield Municipal Index ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 7,541 | — | ||||||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 83,981 | — | ||||||||||||
Vanguard FTSE Emerging Markets ETF | Morgan Stanley | 2.10 | 5/04/2020 | Monthly | (125,064 | ) | — | |||||||||||
Vanguard FTSE Europe ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 26,964 | — | ||||||||||||
Vanguard FTSE Pacific ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 4,134 | — | ||||||||||||
Vanguard Growth ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 16,378 | — | ||||||||||||
Vanguard Intermediate-Term Corporate Bond ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 75,159 | — | ||||||||||||
Vanguard Intermediate-Term Treasury ETF | Morgan Stanley | 2.10 | 5/04/2020 | Monthly | (30,914 | ) | — | |||||||||||
Vanguard Mortgage-Backed Securities ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 23,263 | — | ||||||||||||
Vanguard Small-Cap Growth ETF | Morgan Stanley | 2.95 | 7/02/2020 | Monthly | 17,632 | — | ||||||||||||
Vanguard Small-Cap Value ETF | Morgan Stanley | 1.01 | 5/04/2020 | Monthly | (113,295 | ) | — | |||||||||||
Vanguard Value ETF | Morgan Stanley | 1.51 | 5/04/2020 | Monthly | (188,903 | ) | — | |||||||||||
Xtrackers USD High Yield Corporate Bond ETF | Morgan Stanley | 2.10 | 5/04/2020 | Monthly | (12,172 | ) | — | |||||||||||
$ | — |
(c) | Reflects the value at reset date of April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Market Neutral Tracker ETF(continued)
April 30, 2019
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(d) | ||||||||||||||||||
Exchange Traded Vehicle | $ | 390,362 | $ | — | $ | — | $ | 390,362 | ||||||||||
Investment Companies | 15,343,310 | — | — | 15,343,310 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 37,847 | — | — | 37,847 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 2,613,985 | — | — | 2,613,985 | ||||||||||||||
Total Investments in Securities | $ | 18,385,504 | $ | — | $ | — | $ | 18,385,504 | ||||||||||
Other Financial Instruments:(e) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 18,385,504 | $ | — | $ | — | $ | 18,385,504 | ||||||||||
Liability Valuation Inputs | ||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(e) | ||||||||||||||||||
Swap Contracts | $ | — | $ | — | $ | — | $ | — |
(d) | For a complete listing of investments and their industries, see the Schedules of Investments. |
(e) | Reflects the unrealized appreciation (depreciation) of the instruments. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Long/Short Tracker ETF
April 30, 2019
Shares | Value | |||||||||
Exchange Traded Note — 0.9% | ||||||||||
Volatility Note — 0.9% | ||||||||||
iPath Series B S&P 500 VIX Short-Term Futures ETN* | ||||||||||
(Cost $75,138) | 2,261 | $ | 58,063 | |||||||
Investment Companies — 98.9% | ||||||||||
Bank Loan Funds — 6.3% | ||||||||||
Invesco Senior Loan ETF(a) | 12,688 | 291,443 | ||||||||
SPDR Blackstone / GSO Senior Loan ETF | 2,450 | 114,783 | ||||||||
Total Bank Loan Funds | 406,226 | |||||||||
International Equity Core Fund — 16.0% | ||||||||||
Xtrackers MSCI EAFE Hedged Equity ETF(a)(b) | 32,038 | 1,035,789 | ||||||||
International Large Cap Growth Fund — 5.8% | ||||||||||
iShares MSCI EAFE Growth ETF(a) | 4,665 | 373,946 | ||||||||
International Small Cap Equity Funds — 12.7% | ||||||||||
Schwab International Small-Cap Equity ETF | 6,968 | 231,338 | ||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | 5,526 | 589,679 | ||||||||
Total International Small Cap Equity Funds | 821,017 | |||||||||
Investment Grade Corporate Bond Funds — 15.5% | ||||||||||
iShares Broad USD Investment Grade Corporate Bond ETF(a) | 853 | 47,179 | ||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | 4,765 | 568,083 | ||||||||
Vanguard Intermediate-Term Corporate Bond ETF(a) | 4,440 | 386,236 | ||||||||
Total Investment Grade Corporate Bond Funds | 1,001,498 | |||||||||
U.S. Large Cap Core Funds — 14.7% | ||||||||||
Consumer Discretionary Select Sector SPDR Fund | 3,055 | 366,814 | ||||||||
Financial Select Sector SPDR Fund | 14,213 | 398,248 | ||||||||
Health Care Select Sector SPDR Fund | 1,761 | 157,187 | ||||||||
Technology Select Sector SPDR Fund(a) | 326 | 25,659 | ||||||||
Total U.S. Large Cap Core Funds | 947,908 | |||||||||
U.S. Long Term Treasury Bond Funds — 3.0% | ||||||||||
iShares 20+ Year Treasury Bond ETF | 1,226 | 151,595 | ||||||||
SPDR Portfolio Long Term Treasury ETF | 726 | 25,867 | ||||||||
Vanguard Long-Term Treasury ETF | 180 | 13,696 | ||||||||
Total U.S. Long Term Treasury Bond Funds | 191,158 | |||||||||
U.S. Momentum Fund — 6.3% | ||||||||||
iShares Edge MSCI USA Momentum Factor ETF | 3,567 | 409,171 | ||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Preferred Funds — 0.1% | ||||||||||
Invesco Preferred ETF | 50 | $ | 726 | |||||||
iShares Preferred & Income Securities ETF | 59 | 2,161 | ||||||||
Total U.S. Preferred Funds | 2,887 | |||||||||
U.S. Small Cap Value Funds — 1.4% | ||||||||||
iShares Russell 2000 Value ETF | 234 | 29,093 | ||||||||
iShares S&P Small-Cap 600 Value ETF | 129 | 19,854 | ||||||||
Vanguard Small-Cap Value ETF | 314 | 42,001 | ||||||||
Total U.S. Small Cap Value Funds | 90,948 | |||||||||
U.S. Ultra Short Term Treasury Bond Funds — 17.1% | ||||||||||
Goldman Sachs Access Treasury 0-1 Year ETF | 1,108 | 111,121 | ||||||||
Invesco Treasury Collateral ETF | 180 | 18,991 | ||||||||
iShares Short Treasury Bond ETF | 6,231 | 688,900 | ||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF(a) | 3,122 | 285,975 | ||||||||
Total U.S. Ultra Short Term Treasury Bond Funds | 1,104,987 | |||||||||
Total Investment Companies | ||||||||||
(Cost $6,264,341) | 6,385,535 | |||||||||
Short-Term Investment — 0.3% | ||||||||||
Money Market Fund — 0.3% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 2.32%(c) | ||||||||||
(Cost $18,351) | 18,351 | 18,351 | ||||||||
Investment of Cash Collateral For Securities Loaned — 12.2% | ||||||||||
Money Market Fund — 12.2% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(c) | ||||||||||
(Cost $789,998) | 789,998 | 789,998 | ||||||||
Total Investments — 112.3% | ||||||||||
(Cost $7,147,828) | 7,251,947 | |||||||||
Other Assets and Liabilities, Net — (12.3)% | (792,750 | ) | ||||||||
Net Assets — 100.0% | $ | 6,459,197 |
* | 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 $1,462,836; total market value of collateral held by the Fund was $1,493,505. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $703,507. |
(b) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $39,928. |
(c) | Reflects the 1-day yield at April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Long/Short Tracker ETF(continued)
April 30, 2019
Total Return Benchmark | Counterparty | Annual Financing Rate Received (Paid)% | Expiration Date | Payment Frequency Received/ (Paid) | Notional Amount Long (Short) | Value/ Unrealized Appreciation/ (Depreciation)(d) | ||||||||||||
Consumer Discretionary Select Sector SPDR Fund | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | $ | 36,861 | $ | — | ||||||||||
Energy Select Sector SPDR Fund | Morgan Stanley | 2.09 | 3/30/2021 | Monthly | (94,537 | ) | — | |||||||||||
Financial Select Sector SPDR Fund | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 40,069 | — | ||||||||||||
Goldman Sachs Access Treasury 0-1 Year ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 11,232 | — | ||||||||||||
Health Care Select Sector SPDR Fund | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 15,799 | — | ||||||||||||
Invesco Preferred ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 73 | — | ||||||||||||
Invesco Senior Loan ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 29,333 | — | ||||||||||||
Invesco Treasury Collateral ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 1,899 | — | ||||||||||||
iPath Series B S&P 500 VIX Short-Term Futures ETN | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 5,855 | — | ||||||||||||
iShares 20+ Year Treasury Bond ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 15,209 | — | ||||||||||||
iShares Broad USD Investment Grade Corporate Bond ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 4,757 | — | ||||||||||||
iShares Core MSCI EAFE ETF | Morgan Stanley | 2.09 | 3/30/2021 | Monthly | (44,918 | ) | — | |||||||||||
iShares Core MSCI Emerging Markets ETF | Morgan Stanley | 2.09 | 3/30/2021 | Monthly | (46,499 | ) | — | |||||||||||
iShares Core S&P U.S. Growth ETF | Morgan Stanley | (1.35 | ) | 3/30/2021 | Monthly | (10,524 | ) | — | ||||||||||
iShares Core S&P U.S. Value ETF | Morgan Stanley | (2.45 | ) | 3/30/2021 | Monthly | (8,567 | ) | — | ||||||||||
iShares Core U.S. REIT ETF | Morgan Stanley | (5.25 | ) | 3/30/2021 | Monthly | (2,837 | ) | — | ||||||||||
iShares Edge MSCI USA Momentum Factor ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 41,181 | — | ||||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 57,226 | — | ||||||||||||
iShares MSCI EAFE Growth ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 37,595 | — | ||||||||||||
iShares Preferred & Income Securities ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 220 | — | ||||||||||||
iShares Russell 2000 Growth ETF | Morgan Stanley | 1.25 | 3/30/2021 | Monthly | (26,119 | ) | — | |||||||||||
iShares Russell 2000 Value ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 2,984 | — | ||||||||||||
iShares S&P Small-Cap 600 Growth ETF | Morgan Stanley | (1.75 | ) | 3/30/2021 | Monthly | (16,053 | ) | — | ||||||||||
iShares S&P Small-Cap 600 Value ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 2,001 | — | ||||||||||||
iShares Short Treasury Bond ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 69,321 | — | ||||||||||||
Schwab International Small-Cap Equity ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 23,273 | — | ||||||||||||
Schwab U.S. Large-Cap Growth ETF | Morgan Stanley | (2.05 | ) | 3/30/2021 | Monthly | (12,622 | ) | — | ||||||||||
Schwab U.S. Large-Cap Value ETF | Morgan Stanley | (2.20 | ) | 3/30/2021 | Monthly | (9,502 | ) | — | ||||||||||
Schwab U.S. REIT ETF | Morgan Stanley | (1.05 | ) | 3/30/2021 | Monthly | (12,460 | ) | — | ||||||||||
SPDR Blackstone / GSO Senior Loan ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 11,572 | — | ||||||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 28,762 | — | ||||||||||||
SPDR Portfolio Long Term Treasury ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 2,601 | — | ||||||||||||
SPDR Portfolio S&P 500 Growth ETF | Morgan Stanley | (0.10 | ) | 3/30/2021 | Monthly | (7,968 | ) | — | ||||||||||
SPDR Portfolio S&P 500 Value ETF | Morgan Stanley | (7.50 | ) | 3/30/2021 | Monthly | (4,128 | ) | — | ||||||||||
Technology Select Sector SPDR Fund | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 2,597 | — | ||||||||||||
Vanguard FTSE All World ex-U.S. Small-Cap ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 59,331 | — |
See notes to financial statements.
Schedules of Investments — IQ Hedge Long/Short Tracker ETF(continued)
April 30, 2019
Total Return Benchmark | Counterparty | Annual Financing Rate Received (Paid) % | Expiration Date | Payment Frequency Received/ (Paid) | Notional Amount Long (Short) | Value/ Unrealized Appreciation/ (Depreciation)(d) | ||||||||||||
Vanguard FTSE Developed Markets ETF | Morgan Stanley | 1.90 | 3/30/2021 | Monthly | $ | (52,369 | ) | $ | — | |||||||||
Vanguard FTSE Emerging Markets ETF | Morgan Stanley | 2.09 | 3/30/2021 | Monthly | (50,095 | ) | — | |||||||||||
Vanguard Growth ETF | Morgan Stanley | 1.38 | 3/30/2021 | Monthly | (67,805 | ) | — | |||||||||||
Vanguard Intermediate-Term Corporate Bond ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 38,885 | — | ||||||||||||
Vanguard Long-Term Treasury ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 1,370 | — | ||||||||||||
Vanguard Real Estate ETF | Morgan Stanley | 2.09 | 3/30/2021 | Monthly | (79,134 | ) | — | |||||||||||
Vanguard Small-Cap Growth ETF | Morgan Stanley | 0.80 | 3/30/2021 | Monthly | (24,685 | ) | — | |||||||||||
Vanguard Small-Cap Value ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 4,280 | — | ||||||||||||
Vanguard Value ETF | Morgan Stanley | 1.50 | 3/30/2021 | Monthly | (75,650 | ) | — | |||||||||||
Xtrackers MSCI EAFE Hedged Equity ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 104,232 | — | ||||||||||||
$ | — |
(d) | Reflects the value at reset date of April 30, 2019. |
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(e) | ||||||||||||||||||
Exchange Traded Note | $ | 58,063 | $ | — | $ | — | $ | 58,063 | ||||||||||
Investment Companies | 6,385,535 | — | — | 6,385,535 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 18,351 | — | — | 18,351 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 789,998 | — | — | 789,998 | ||||||||||||||
Total Investments in Securities | 7,251,947 | — | — | 7,251,947 | ||||||||||||||
Other Financial Instruments:(f) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 7,251,947 | $ | — | $ | — | $ | 7,251,947 |
Liability Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(f) | ||||||||||||||||||
Swap Contracts | $ | — | $ | — | $ | — | $ | — |
(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, 2019
Shares | Value | |||||||||
Investment Companies — 99.8% | ||||||||||
Bank Loan Funds — 23.8% | ||||||||||
Invesco Senior Loan ETF(a) | 31,681 | $ | 727,713 | |||||||
SPDR Blackstone / GSO Senior Loan ETF | 6,118 | 286,628 | ||||||||
Total Bank Loan Funds | 1,014,341 | |||||||||
Convertible Bond Fund — 10.2% | ||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF(b) | 8,099 | 433,296 | ||||||||
High Yield Corporate Bond Funds — 31.4% | ||||||||||
iShares iBoxx High Yield Corporate Bond ETF(a) | 8,774 | 762,812 | ||||||||
SPDR Bloomberg Barclays High Yield Bond ETF(a) | 12,224 | 443,364 | ||||||||
Xtrackers USD High Yield Corporate Bond ETF | 2,564 | 128,431 | ||||||||
Total High Yield Corporate Bond Funds | 1,334,607 | |||||||||
Investment Grade Corporate Bond Funds — 24.6% | ||||||||||
SPDR Portfolio Short Term Corporate Bond ETF | 6,049 | 184,857 | ||||||||
Vanguard Short-Term Corporate Bond ETF | 10,824 | 862,997 | ||||||||
Total Investment Grade Corporate Bond Funds | 1,047,854 | |||||||||
U.S. Small Cap Growth Funds — 9.7% | ||||||||||
iShares Russell 2000 Growth ETF(a) | 796 | 161,166 | ||||||||
iShares S&P Small-Cap 600 Growth ETF | 533 | 98,349 | ||||||||
Vanguard Small-Cap Growth ETF | 823 | 152,749 | ||||||||
Total U.S. Small Cap Growth Funds | 412,264 | |||||||||
U.S. Ultra Short Term Treasury Bond Funds — 0.1% | ||||||||||
Goldman Sachs Access Treasury 0-1 Year ETF | 2 | 201 | ||||||||
iShares Short Treasury Bond ETF | 14 | 1,548 | ||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF(a) | 7 | 641 | ||||||||
Total U.S. Ultra Short Term Treasury Bond Funds | 2,390 | |||||||||
Total Investment Companies | ||||||||||
(Cost $4,166,265) | 4,244,752 | |||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
Short-Term Investment — 0.2% | ||||||||||
Money Market Fund — 0.2% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 2.32%(c) | ||||||||||
(Cost $9,700) | 9,700 | $ | 9,700 | |||||||
Investment of Cash Collateral For Securities Loaned — 4.1% | ||||||||||
Money Market Fund — 4.1% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(c) | ||||||||||
(Cost $175,698) | 175,698 | 175,698 | ||||||||
Total Investments — 104.1% | ||||||||||
(Cost $4,351,663) | $ | 4,430,150 | ||||||||
Other Assets and Liabilities, Net — (4.1)% | (177,158 | ) | ||||||||
Net Assets — 100.0% | $ | 4,252,992 |
(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 $1,116,268; total market value of collateral held by the Fund was $1,140,092. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $964,394. |
(b) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $5,350. |
(c) | Reflects the 1-day yield at April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ Hedge Event-Driven Tracker ETF(continued)
April 30, 2019
Total Return Benchmark | Counterparty | Annual Financing Rate Received (Paid)% | Expiration Date | Payment Frequency Received/ (Paid) | Notional Amount Long (Short) | Value/ Unrealized Appreciation/ (Depreciation)(d) | ||||||||||||
Invesco Preferred ETF | Morgan Stanley | 2.09 | 3/30/2021 | Monthly | $ | (31,479 | ) | $ | — | |||||||||
Invesco Senior Loan ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 21,913 | — | ||||||||||||
iShares iBoxx High Yield Corporate Bond ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 22,952 | — | ||||||||||||
iShares Preferred & Income Securities ETF | Morgan Stanley | 1.75 | 3/30/2021 | Monthly | (94,699 | ) | — | |||||||||||
iShares Russell 2000 Growth ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 4,859 | — | ||||||||||||
iShares S&P Small-Cap 600 Growth ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 2,952 | — | ||||||||||||
SPDR Blackstone / GSO Senior Loan ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 8,620 | — | ||||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 13,054 | — | ||||||||||||
SPDR Bloomberg Barclays High Yield Bond ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 13,347 | — | ||||||||||||
SPDR Portfolio Short Term Corporate Bond ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 5,562 | — | ||||||||||||
Vanguard Short-Term Corporate Bond ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 25,992 | — | ||||||||||||
Vanguard Small-Cap Growth ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 4,640 | — | ||||||||||||
Xtrackers USD High Yield Corporate Bond ETF | Morgan Stanley | 2.94 | 3/30/2021 | Monthly | 3,857 | — | ||||||||||||
$ | — |
(d) | Reflects the value at reset date of April 30, 2019. |
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(e) | ||||||||||||||||||
Investment Companies | $ | 4,244,752 | $ | — | $ | — | $ | 4,244,752 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 9,700 | — | — | 9,700 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 175,698 | — | — | 175,698 | ||||||||||||||
Total Investments in Securities | 4,430,150 | — | — | 4,430,150 | ||||||||||||||
Other Financial Instruments:(f) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 4,430,150 | $ | — | $ | — | $ | 4,430,150 |
Liability Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(f) | ||||||||||||||||||
Swap Contracts | $ | — | $ | — | $ | — | $ | — |
(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 Real Return ETF
April 30, 2019
Shares | Value | |||||||||
Exchange Traded Vehicles — 4.2% | ||||||||||
Euro Fund — 3.4% | ||||||||||
Invesco CurrencyShares Euro Currency Trust*(a) | 18,264 | $ | 1,952,239 | |||||||
Japanese Yen Fund — 0.8% | ||||||||||
Invesco CurrencyShares Japanese Yen Trust* | 5,389 | 460,867 | ||||||||
Total Exchange Traded Vehicles | ||||||||||
(Cost $2,429,199) | 2,413,106 | |||||||||
Investment Companies — 95.7% | ||||||||||
Emerging Equity Funds — 0.9% | ||||||||||
iShares MSCI Emerging Markets ETF | 4,078 | 179,147 | ||||||||
Vanguard FTSE Emerging Markets ETF | 7,611 | 330,393 | ||||||||
Total Emerging Equity Funds | 509,540 | |||||||||
Oil Fund — 4.2% | ||||||||||
Invesco DB Oil Fund | 219,492 | 2,396,853 | ||||||||
U.S. Large Cap Core Funds — 10.2% | ||||||||||
iShares Core S&P 500 ETF | 7,448 | 2,204,161 | ||||||||
SPDR S&P 500 ETF Trust(a) | 12,247 | 3,600,863 | ||||||||
Total U.S. Large Cap Core Funds | 5,805,024 | |||||||||
U.S. Short Term Investment Grade Fund — 24.9% | ||||||||||
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund | 139,829 | 14,215,016 | ||||||||
U.S. Small Cap Core Fund — 4.0% | ||||||||||
iShares Russell 2000 ETF(a) | 14,256 | 2,256,583 | ||||||||
U.S. Ultra Short Term Treasury Bond Funds — 51.5% | ||||||||||
Goldman Sachs Access Treasury 0-1 Year ETF | 31,744 | 3,183,606 | ||||||||
Invesco Treasury Collateral ETF | 5,150 | 543,351 | ||||||||
iShares Short Treasury Bond ETF | 128,468 | 14,203,422 | ||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Ultra Short Term Treasury Bond Funds (continued) | ||||||||||
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF(a) | 125,051 | $ | 11,454,671 | |||||||
Total U.S. Ultra Short Term Treasury Bond Funds | 29,385,050 | |||||||||
Total Investment Companies | ||||||||||
(Cost $53,867,362) | 54,568,066 | |||||||||
Short-Term Investment — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 2.32%(b) | ||||||||||
(Cost $71,289) | 71,289 | 71,289 | ||||||||
Investment of Cash Collateral For Securities Loaned — 17.7% | ||||||||||
Money Market Fund — 17.7% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(b) | ||||||||||
(Cost $10,081,653) | 10,081,653 | 10,081,653 | ||||||||
Total Investments — 117.7% | ||||||||||
(Cost $66,449,503) | 67,134,114 | |||||||||
Other Assets and Liabilities, Net — (17.7)% | (10,088,211 | ) | ||||||||
Net Assets — 100.0% | $ | 57,045,903 |
* | 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 $15,618,184; total market value of collateral held by the Fund was $15,950,261. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $5,868,608. |
(b) | Reflects the 1-day yield at April 30, 2019. |
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(c) | ||||||||||||||||||
Exchange Traded Vehicles | $ | 2,413,106 | $ | — | $ | — | $ | 2,413,106 | ||||||||||
Investment Companies | 54,568,066 | — | — | 54,568,066 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 71,289 | — | — | 71,289 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 10,081,653 | — | — | 10,081,653 | ||||||||||||||
Total Investments in Securities | $ | 67,134,114 | $ | — | $ | — | $ | 67,134,114 |
(c) | For a complete listing of investments and their industries, see the Schedules of Investments. |
See notes to financial statements.
Schedules of Investments — IQ Leaders GTAA Tracker ETF
April 30, 2019
Shares | Value | |||||||||
Investment Companies — 99.8% | ||||||||||
Aggregate Bond Funds — 19.9% | ||||||||||
iShares Core U.S. Aggregate Bond ETF(a) | 46,728 | $ | 5,074,194 | |||||||
SPDR Portfolio Aggregate Bond ETF(b) | 11,123 | 316,338 | ||||||||
Vanguard Total Bond Market ETF | 40,550 | 3,282,928 | ||||||||
Total Aggregate Bond Funds | 8,673,460 | |||||||||
Convertible Bond Fund — 6.9% | ||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF | 56,472 | 3,021,252 | ||||||||
Emerging Equity Funds — 8.0% | ||||||||||
iShares Core MSCI Emerging Markets ETF | 31,747 | 1,677,512 | ||||||||
Vanguard FTSE Emerging Markets ETF | 41,632 | 1,807,245 | ||||||||
Total Emerging Equity Funds | 3,484,757 | |||||||||
High Yield Corporate Bond Funds — 18.9% | ||||||||||
iShares iBoxx High Yield Corporate Bond ETF(b) | 59,991 | 5,215,618 | ||||||||
SPDR Bloomberg Barclays High Yield Bond ETF(b) | 83,578 | 3,031,374 | ||||||||
Total High Yield Corporate Bond Funds | 8,246,992 | |||||||||
International Equity Core Funds — 24.2% | ||||||||||
iShares Core MSCI EAFE ETF | 78,093 | 4,885,498 | ||||||||
Vanguard FTSE Developed Markets ETF | 135,523 | 5,696,032 | ||||||||
Total International Equity Core Funds | 10,581,530 | |||||||||
Investment Grade Corporate Bond Funds — 0.6% | ||||||||||
iShares Broad USD Investment Grade Corporate Bond ETF | 356 | 19,690 | ||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | 1,991 | 237,367 | ||||||||
Total Investment Grade Corporate Bond Funds | 257,057 | |||||||||
U.S. Large Cap Core Funds — 21.3% | ||||||||||
Consumer Discretionary Select Sector SPDR Fund | 14,608 | 1,753,983 | ||||||||
Consumer Staples Select Sector SPDR Fund | 1,800 | 103,878 | ||||||||
Energy Select Sector SPDR Fund | 6,389 | 422,377 | ||||||||
Financial Select Sector SPDR Fund | 67,333 | 1,886,671 | ||||||||
Health Care Select Sector SPDR Fund | 297 | 26,510 | ||||||||
Industrial Select Sector SPDR Fund(b) | 22,319 | 1,741,105 | ||||||||
Utilities Select Sector SPDR Fund | 20,554 | 1,206,725 | ||||||||
Vanguard Consumer Discretionary ETF(b) | 2,087 | 378,185 | ||||||||
Vanguard Consumer Staples ETF(b) | 297 | 44,220 | ||||||||
Vanguard Energy ETF | 1,271 | 113,386 | ||||||||
Vanguard Financials ETF(b) | 8,299 | 581,428 | ||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Large Cap Core Funds (continued) | ||||||||||
Vanguard Health Care ETF | 76 | $ | 12,755 | |||||||
Vanguard Industrials ETF | 3,987 | 583,218 | ||||||||
Vanguard Utilities ETF(b) | 3,561 | 465,494 | ||||||||
Total U.S. Large Cap Core Funds | 9,319,935 | |||||||||
Total Investment Companies | ||||||||||
(Cost $41,923,274) | 43,584,983 | |||||||||
Short-Term Investment — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 2.32%(c) | ||||||||||
(Cost $32,953) | 32,953 | 32,953 | ||||||||
Investment of Cash Collateral For Securities Loaned — 9.3% | ||||||||||
Money Market Fund — 9.3% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(c) | ||||||||||
(Cost $4,075,170) | 4,075,170 | 4,075,170 | ||||||||
Total Investments — 109.2% | ||||||||||
(Cost $46,031,397) | 47,693,106 | |||||||||
Other Assets and Liabilities, Net — (9.2)% | (4,017,689 | ) | ||||||||
Net Assets — 100.0% | $ | 43,675,417 |
(a) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $235,640. |
(b) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $6,257,252; total market value of collateral held by the Fund was $6,385,442. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $2,310,272. |
(c) | Reflects the 1-day yield at April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ Leaders GTAA Tracker ETF(continued)
April 30, 2019
Total Return Benchmark | Counterparty | Annual Financing Rate Received (Paid)% | Expiration Date | Payment Frequency Received/ (Paid) | Notional Amount Long (Short) | Value/ Unrealized Appreciation/ (Depreciation)(d) | ||||||||||||
Consumer Discretionary Select Sector SPDR Fund | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | $ | 208,201 | $ | — | ||||||||||
Consumer Staples Select Sector SPDR Fund | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 12,350 | — | ||||||||||||
Energy Select Sector SPDR Fund | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 50,111 | — | ||||||||||||
Financial Select Sector SPDR Fund | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 223,880 | — | ||||||||||||
Health Care Select Sector SPDR Fund | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 3,124 | — | ||||||||||||
Industrial Select Sector SPDR Fund | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 206,648 | — | ||||||||||||
iShares 7-10 Year Treasury Bond ETF | Morgan Stanley | 1.25 | 10/03/2019 | Monthly | (2,095,549 | ) | — | |||||||||||
iShares Broad USD Investment Grade Corporate Bond ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 2,323 | — | ||||||||||||
iShares Core MSCI EAFE ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 579,744 | — | ||||||||||||
iShares Core MSCI Emerging Markets ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 199,048 | — | ||||||||||||
iShares Core U.S. Aggregate Bond ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 602,132 | — | ||||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 28,136 | — | ||||||||||||
iShares iBoxx High Yield Corporate Bond ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 618,926 | — | ||||||||||||
iShares Russell 2000 ETF | Morgan Stanley | 1.85 | 10/03/2019 | Monthly | (732,883 | ) | — | |||||||||||
Materials Select Sector SPDR Fund | Morgan Stanley | 2.09 | 10/03/2019 | Monthly | (184,127 | ) | — | |||||||||||
SPDR Bloomberg Barclays Convertible Securities ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 358,504 | — | ||||||||||||
SPDR Bloomberg Barclays High Yield Bond ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 359,726 | — | ||||||||||||
SPDR Portfolio Aggregate Bond ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 37,541 | — | ||||||||||||
Technology Select Sector SPDR Fund | Morgan Stanley | 2.09 | 10/03/2019 | Monthly | (14,325 | ) | — | |||||||||||
Utilities Select Sector SPDR Fund | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 143,194 | — | ||||||||||||
Vanguard Consumer Discretionary ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 44,940 | — | ||||||||||||
Vanguard Consumer Staples ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 5,211 | — | ||||||||||||
Vanguard Energy ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 13,471 | — | ||||||||||||
Vanguard Financials ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 69,009 | — | ||||||||||||
Vanguard FTSE Developed Markets ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 675,926 | — | ||||||||||||
Vanguard FTSE Emerging Markets ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 214,445 | — | ||||||||||||
Vanguard Health Care ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 1,510 | — | ||||||||||||
Vanguard Industrials ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 69,190 | — | ||||||||||||
Vanguard Real Estate ETF | Morgan Stanley | 2.09 | 10/03/2019 | Monthly | (2,084,302 | ) | — | |||||||||||
Vanguard Total Bond Market ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 389,580 | — | ||||||||||||
Vanguard Utilities ETF | Morgan Stanley | 2.94 | 10/03/2019 | Monthly | 55,295 | — | ||||||||||||
$ | — |
(d) | Reflects the value at reset date of April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ Leaders GTAA Tracker ETF(continued)
April 30, 2019
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(e) | ||||||||||||||||||
Investment Companies | $ | 43,584,983 | $ | — | $ | — | $ | 43,584,983 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 32,953 | — | — | 32,953 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 4,075,170 | — | — | 4,075,170 | ||||||||||||||
Total Investments in Securities | 47,693,106 | — | — | 47,693,106 | ||||||||||||||
Other Financial Instruments:(f) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 47,693,106 | $ | — | $ | — | $ | 47,693,106 | ||||||||||
Liability Valuation Inputs | ||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(f) | ||||||||||||||||||
Swap Contracts | $ | — | $ | — | $ | — | $ | — |
(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, 2019
Shares | Value | |||||||||
Investment Companies — 100.0% | ||||||||||
Investment Grade Corporate Bond Funds — 36.1% | ||||||||||
iShares Broad USD Investment Grade Corporate Bond ETF | 98,545 | $ | 5,450,524 | |||||||
SPDR Portfolio Intermediate Term Corporate Bond ETF | 117,221 | 4,010,130 | ||||||||
SPDR Portfolio Long Term Corporate Bond ETF | 72,786 | 1,979,051 | ||||||||
Vanguard Intermediate-Term Corporate Bond ETF(a) | 112,203 | 9,760,539 | ||||||||
Vanguard Long-Term Corporate Bond ETF(a) | 117,836 | 10,764,319 | ||||||||
Total Investment Grade Corporate Bond Funds | 31,964,563 | |||||||||
Short Maturity Investment Grade Corporate Bond Fund — 13.9% | ||||||||||
Vanguard Short-Term Corporate Bond ETF | 154,590 | 12,325,461 | ||||||||
U.S. Short Term Treasury Bond Funds — 50.0% | ||||||||||
Schwab Short-Term U.S. Treasury ETF | 464,075 | 23,282,643 | ||||||||
Vanguard Short-Term Treasury ETF | 347,542 | 21,001,963 | ||||||||
Total U.S. Short Term Treasury Bond Funds | 44,284,606 | |||||||||
Total Investment Companies | ||||||||||
(Cost $87,355,978) | 88,574,630 | |||||||||
Shares | Value | |||||||||
Short-Term Investment — 0.0%(b) | ||||||||||
Money Market Fund — 0.0%(b) | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 2.32%(c) | ||||||||||
(Cost $28,696) | 28,696 | $ | 28,696 | |||||||
Total Investments — 100.0% | ||||||||||
(Cost $87,384,674) | 88,603,326 | |||||||||
Other Assets and Liabilities, Net — (0.0)%(b) | (14,047 | ) | ||||||||
Net Assets — 100.0% | $ | 88,589,279 |
(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 $4,507,592; total market value of collateral held consisted of non-cash U.S. Treasury securities collateral having a value of $4,602,287. |
(b) | Less than 0.05%. |
(c) | Reflects the 1-day yield at April 30, 2019. |
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(d) | ||||||||||||||||||
Investment Companies | $ | 88,574,630 | $ | — | $ | — | $ | 88,574,630 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 28,696 | �� | — | — | 28,696 | |||||||||||||
Total Investments in Securities | $ | 88,603,326 | $ | — | $ | — | $ | 88,603,326 |
(d) | For a complete listing of investments and their industries, see the Schedules of Investments. |
See notes to financial statements.
Shares | Value | |||||||||
Investment Companies — 99.9% | ||||||||||
Emerging Market Bond Funds — 2.8% | ||||||||||
iShares J.P. Morgan USD Emerging Markets Bond ETF | 37,141 | $ | 4,078,082 | |||||||
Vanguard Emerging Markets Government Bond ETF(a) | 3,716 | 290,331 | ||||||||
Total Emerging Market Bond Funds | 4,368,413 | |||||||||
High Yield Corporate Bond Funds — 5.9% | ||||||||||
iShares iBoxx High Yield Corporate Bond ETF(a) | 60,334 | 5,245,438 | ||||||||
SPDR Bloomberg Barclays High Yield Bond ETF(a) | 85,965 | 3,117,951 | ||||||||
Xtrackers USD High Yield Corporate Bond ETF | 17,249 | 864,002 | ||||||||
Total High Yield Corporate Bond Funds | 9,227,391 | |||||||||
Investment Grade Corporate Bond Funds — 30.3% | ||||||||||
iShares Broad USD Investment Grade Corporate Bond ETF | 146,328 | 8,093,402 | ||||||||
SPDR Portfolio Intermediate Term Corporate Bond ETF(a) | 174,062 | 5,954,661 | ||||||||
SPDR Portfolio Long Term Corporate Bond ETF | 108,079 | 2,938,668 | ||||||||
Vanguard Intermediate-Term Corporate Bond ETF | 166,614 | 14,493,752 | ||||||||
Vanguard Long-Term Corporate Bond ETF(a) | 174,981 | 15,984,514 | ||||||||
Total Investment Grade Corporate Bond Funds | 47,464,997 | |||||||||
Short Maturity Investment Grade Corporate Bond Fund — 11.7% | ||||||||||
Vanguard Short-Term Corporate Bond ETF | 229,550 | 18,302,021 | ||||||||
Shares | Value | |||||||||
Investment Companies (continued) | ||||||||||
U.S. Short Term Treasury Bond Funds — 49.2% | ||||||||||
Schwab Short-Term U.S. Treasury ETF | 806,983 | $ | 40,486,337 | |||||||
Vanguard Short-Term Treasury ETF | 604,341 | 36,520,327 | ||||||||
Total U.S. Short Term Treasury Bond Funds | 77,006,664 | |||||||||
Total Investment Companies | ||||||||||
(Cost $154,094,559) | 156,369,486 | |||||||||
Short-Term Investment — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 2.32%(b) | ||||||||||
(Cost $149,802) | 149,802 | 149,802 | ||||||||
Investment of Cash Collateral For Securities Loaned — 0.7% | ||||||||||
Money Market Fund — 0.7% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(b) | ||||||||||
(Cost $1,116,868) | 1,116,868 | 1,116,868 | ||||||||
Total Investments — 100.7% | ||||||||||
(Cost $155,361,229) | 157,636,156 | |||||||||
Other Assets and Liabilities, Net — (0.7)% | (1,142,221 | ) | ||||||||
Net Assets — 100.0% | $ | 156,493,935 |
(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 $7,453,730; total market value of collateral held by the Fund was $7,616,686. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $6,499,818. |
(b) | Reflects the 1-day yield at April 30, 2019. |
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(c) | ||||||||||||||||||
Investment Companies | $ | 156,369,486 | $ | — | $ | — | $ | 156,369,486 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 149,802 | — | — | 149,802 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 1,116,868 | — | — | 1,116,868 | ||||||||||||||
Total Investments in Securities | $ | 157,636,156 | $ | — | $ | — | $ | 157,636,156 |
(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, 2019
Affiliated Holdings | Shares at 04/30/2018 | Value Value ($) at 04/30/2018 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation/ (Depreciation) ($) | Capital Gain Distributions ($) | Shares at 04/30/2019 | Value ($) at 04/30/2019 | Income Distributions ($) | ||||||||||||||||||||||||||||||||
SPDR Bloomberg Barclays Mortgage Backed Bond ETF | 520,339 | 13,174,984 | 28,235,817 | (41,249,057 | ) | (310,932 | ) | 149,188 | — | — | — | 283,334 | ||||||||||||||||||||||||||||||
520,339 | 13,174,984 | 28,235,817 | (41,249,057 | ) | (310,932 | ) | 149,188 | — | — | — | 283,334 |
See notes to financial statements.
Schedules of Investments — IQ Short Duration Enhanced Core Bond U.S. ETF
April 30, 2019
Shares | Value | |||||||||
Investment Companies — 99.9% | ||||||||||
Floating Rate — Investment Grade Funds — 5.7% | ||||||||||
iShares Floating Rate Bond ETF | 3,055 | $ | 155,683 | |||||||
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 1,973 | 60,611 | ||||||||
Total Floating Rate — Investment Grade Funds | 216,294 | |||||||||
High Yield Corporate Bond Funds — 25.0% | ||||||||||
iShares 0-5 Year High Yield Corporate Bond ETF | 8,989 | 421,225 | ||||||||
SPDR Bloomberg Barclays Short Term High Yield Bond ETF(a) | 19,426 | 531,495 | ||||||||
Total High Yield Corporate Bond Fund | 952,720 | |||||||||
Investment Grade Corporate Bond Fund — 4.1% | ||||||||||
iShares 0-5 Year Investment Grade Corporate Bond ETF | 3,069 | 154,831 | ||||||||
Short Maturity Investment Grade Corp Bond Fund — 60.7% | ||||||||||
Vanguard Short-Term Corporate Bond ETF(a) | 28,948 | 2,308,024 | ||||||||
U.S. Short Term Treasury Bond Funds — 4.4% | ||||||||||
Schwab Short-Term U.S. Treasury ETF | 1,759 | 88,249 | ||||||||
Vanguard Short-Term Treasury ETF | 1,317 | 79,586 | ||||||||
Total U.S. Short Term Treasury Bond Fund | 167,835 | |||||||||
Total Investment Companies | ||||||||||
(Cost $3,765,937) | 3,799,704 | |||||||||
Shares | Value | |||||||||
Short-Term Investment — 0.2% | ||||||||||
Money Market Fund — 0.2% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 2.32%(b) | ||||||||||
(Cost $6,063) | 6,063 | $ | 6,063 | |||||||
Investment of Cash Collateral For Securities Loaned — 2.3% | ||||||||||
Money Market Fund — 2.3% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(b) | ||||||||||
(Cost $85,755) | 85,755 | 85,755 | ||||||||
Total Investments — 102.4% | ||||||||||
(Cost $3,857,755) | 3,891,522 | |||||||||
Other Assets and Liabilities, Net — (2.4)% | (86,484 | ) | ||||||||
Net Assets — 100.0% | $ | 3,805,038 |
(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 $84,111; total market value of collateral held by the Fund was $85,755. |
(b) | Reflects the 1-day yield at April 30, 2019. |
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(c) | ||||||||||||||||||
Investment Companies | $ | 3,799,704 | $ | — | $ | — | $ | 3,799,704 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 6,063 | — | — | 6,063 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 85,755 | — | — | 85,755 | ||||||||||||||
Total Investments in Securities | $ | 3,891,522 | $ | — | $ | — | $ | 3,891,522 |
(c) | For a complete listing of investments and their industries, see the Schedules of Investments. |
See notes to financial statements.
Schedules of Investments — IQ Merger Arbitrage ETF
April 30, 2019
Shares | Value | |||||||||
Common Stocks — 85.8% | ||||||||||
Communication Services — 4.1% | ||||||||||
Inmarsat PLC | 469,042 | $ | 3,333,716 | |||||||
Scout24 AG‡(a) | 91,430 | 4,703,173 | ||||||||
Tribune Media Co., Class A | 698,718 | 32,280,772 | ||||||||
Total Communication Services | 40,317,661 | |||||||||
Financials — 9.4% | ||||||||||
Navigators Group, Inc. (The) | 132,329 | 9,255,090 | ||||||||
Oaktree Capital Group LLC | 109,112 | 5,523,250 | ||||||||
SunTrust Banks, Inc. | 1,122,069 | 73,473,078 | ||||||||
TCF Financial Corp. | 187,907 | 4,158,382 | ||||||||
Total Financials | 92,409,800 | |||||||||
Health Care — 22.5% | ||||||||||
Aphria, Inc.*(a) | 1,983,663 | 15,070,648 | ||||||||
BTG PLC* | 1,599,572 | 17,422,533 | ||||||||
Celgene Corp.* | 769,711 | 72,860,843 | ||||||||
Pacific Biosciences of California, Inc.* | 1,010,971 | 7,471,076 | ||||||||
Spark Therapeutics, Inc.*(a) | 667,353 | 71,199,891 | ||||||||
WellCare Health Plans, Inc.* | 144,894 | 37,433,365 | ||||||||
Total Health Care | 221,458,356 | |||||||||
Industrials — 11.4% | ||||||||||
Ceva Logistics AG*(a) | 446,833 | 13,155,044 | ||||||||
L3 Technologies, Inc. | 329,921 | 72,114,132 | ||||||||
Multi-Color Corp.(a) | 335,035 | 16,718,247 | ||||||||
WABCO Holdings, Inc.* | 80,961 | 10,722,475 | ||||||||
Total Industrials | 112,709,898 | |||||||||
Information Technology — 36.3% | ||||||||||
Finisar Corp.*(a) | 1,758,991 | 42,409,273 | ||||||||
First Data Corp., Class A* | 2,765,622 | 71,518,985 | ||||||||
Luxoft Holding, Inc.*(a) | 173,280 | 10,123,017 | ||||||||
Red Hat, Inc.*(b) | 479,750 | 87,568,767 | ||||||||
Travelport Worldwide Ltd. | 1,278,923 | 20,053,513 | ||||||||
Ultimate Software Group, Inc. (The)* | 162,758 | 53,815,933 | ||||||||
Versum Materials, Inc. | 617,532 | 32,222,820 | ||||||||
Worldpay, Inc., Class A* | 344,656 | 40,397,130 | ||||||||
Total Information Technology | 358,109,438 | |||||||||
Materials — 1.6% | ||||||||||
Bemis Co., Inc.(a) | 230,997 | 13,263,848 | ||||||||
RPC Group PLC | 275,952 | 2,838,387 | ||||||||
Total Materials | 16,102,235 | |||||||||
Real Estate — 0.5% | ||||||||||
InfraREIT, Inc. | 237,148 | 4,991,965 | ||||||||
Total Common Stocks | ||||||||||
(Cost $828,429,578) | 846,099,353 | |||||||||
Rights — 0.0%(c) | ||||||||||
Materials — 0.0%(c) | ||||||||||
A. Schulman, Inc., Contingent Value Right (CVR) *(d)(e) | ||||||||||
(Cost $79,792) | 152,567 | 66,061 | ||||||||
Shares | Value | |||||||||
Short-Term Investment — 15.6% | ||||||||||
Money Market Fund — 15.6% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 2.32%(f) | ||||||||||
(Cost $153,909,452) | 153,909,452 | $ | 153,909,452 | |||||||
Investment of Cash Collateral For Securities Loaned — 2.6% | ||||||||||
Money Market Fund — 2.6% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(f) | ||||||||||
(Cost $26,117,837) | 26,117,837 | 26,117,837 | ||||||||
Total Investments — 104.0% | ||||||||||
(Cost $1,008,536,659) | 1,026,192,703 | |||||||||
Other Assets and Liabilities, Net — (4.0)% | (40,393,156 | ) | ||||||||
Net Assets — 100.0% | $ | 985,799,547 |
‡ | 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 $30,647,713; total market value of collateral held by the Fund was $32,334,398. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $6,216,561. |
(b) | All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $27,808,405. |
(c) | Less than 0.05%. |
(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, 2019, the value of this security was $66,061. |
(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. |
(f) | Reflects the 1-day yield at April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ Merger Arbitrage ETF(continued)
April 30, 2019
Total Return Benchmark | Counterparty | Annual Financing Rate Received (Paid) % | Expiration Date | Payment Frequency Received/ (Paid) | Notional Amount Long (Short) | Value/ Unrealized Appreciation/ (Depreciation)(g) | ||||||||||||
Financial Select Sector SPDR Fund | Morgan Stanley | 2.09 | 1/10/2020 | Monthly | $ | (79,537,964 | ) | $ | — | |||||||||
Health Care Select Sector SPDR Fund | Morgan Stanley | 2.09 | 1/10/2020 | Monthly | (77,123,139 | ) | — | |||||||||||
Industrial Select Sector SPDR Fund | Morgan Stanley | 2.09 | 1/10/2020 | Monthly | (70,680,570 | ) | — | |||||||||||
iShares MSCI Pacific ex Japan ETF | Morgan Stanley | 0.25 | 1/10/2020 | Monthly | (13,027,296 | ) | — | |||||||||||
Technology Select Sector SPDR Fund | Morgan Stanley | 2.09 | 1/10/2020 | Monthly | (131,936,693 | ) | — | |||||||||||
$ | — |
(g) | Reflects the value at reset date of April 30, 2019. |
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(h) | ||||||||||||||||||
Common Stocks | $ | 846,099,353 | $ | — | $ | — | $ | 846,099,353 | ||||||||||
Rights | — | — | 66,061 | (i) | 66,061 | |||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 153,909,452 | — | — | 153,909,452 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | �� | |||||||||||||||||
Money Market Fund | 26,117,837 | — | — | 26,117,837 | ||||||||||||||
Total Investments in Securities | 1,026,126,642 | — | 66,061 | 1,026,192,703 | ||||||||||||||
Other Financial Instruments:(j) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 1,026,126,642 | $ | — | $ | 66,061 | $ | 1,026,192,703 | ||||||||||
Liability Valuation Inputs | ||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(j) | ||||||||||||||||||
Swap Contracts | $ | — | $ | — | $ | — | $ | — |
(h) | For a complete listing of investments and their industries, see the Schedules of Investments. |
(i) | The Level 3 security, valued at $66,061, has been deemed illiquid and has 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, 2019
Investments in Securities | Balance as of April 30, 2018 | 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, 2019 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2019(k) | ||||||||||||||||||||||||||||||||
Common Stock | ||||||||||||||||||||||||||||||||||||||||||
Sakari Resources Ltd. | $ | 379 | $ | — | $ | (449 | ) | $ | 263 | $ | — | $ | (193 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||
Rights | ||||||||||||||||||||||||||||||||||||||||||
A. Schulman, Inc.(l) | — | — | — | (13,731 | ) | 305,134 | (225,342 | ) | — | — | 66,061 | (13,731 | ) | |||||||||||||||||||||||||||||
Dyax Corp. CVR | 25,920 | — | 93,404 | (25,920 | ) | — | (93,404 | ) | — | — | — | — | ||||||||||||||||||||||||||||||
Total | $ | 26,299 | $ | — | $ | 92,955 | $ | (39,388 | ) | $ | 305,134 | $ | (318,939 | ) | $ | — | $ | — | $ | 66,061 | $ | (13,731 | ) |
(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. |
Security Type | Fair Value | Valuation Technique | Unobservable Inputs | ||||||
Rights | $ 66,061 | Issuer Specific Facts | Contingent Payment Terms |
See notes to financial statements.
Schedules of Investments — IQ Global Resources ETF
April 30, 2019
Shares | Value | |||||||||
Common Stocks — 90.9% | ||||||||||
Argentina — 0.0%(a) | ||||||||||
Adecoagro SA* | 4,773 | $ | 32,456 | |||||||
Australia — 10.2% | ||||||||||
BHP Group Ltd. | 230,095 | 6,057,020 | ||||||||
Evolution Mining Ltd. | 199,312 | 447,512 | ||||||||
Fortescue Metals Group Ltd. | 140,006 | 704,584 | ||||||||
GrainCorp Ltd., Class A | 9,357 | 59,273 | ||||||||
Iluka Resources Ltd. | 19,186 | 116,675 | ||||||||
Independence Group NL | 69,349 | 217,698 | ||||||||
Mineral Resources Ltd. | 8,519 | 93,479 | ||||||||
New Hope Corp. Ltd. | 190,749 | 361,156 | ||||||||
Newcrest Mining Ltd. | 90,097 | 1,586,004 | ||||||||
Northern Star Resources Ltd. | 75,101 | 432,922 | ||||||||
OceanaGold Corp. | 72,654 | 203,077 | ||||||||
OZ Minerals Ltd. | 14,734 | 103,291 | ||||||||
Regis Resources Ltd. | 59,641 | 201,076 | ||||||||
Resolute Mining Ltd. | 89,032 | 70,812 | ||||||||
Rio Tinto PLC | 76,059 | 4,427,241 | ||||||||
Sandfire Resources NL | 7,259 | 35,969 | ||||||||
Saracen Mineral Holdings Ltd.* | 96,336 | 189,179 | ||||||||
South32 Ltd. | 228,181 | 536,421 | ||||||||
St. Barbara Ltd. | 61,307 | 138,083 | ||||||||
Washington H Soul Pattinson & Co., Ltd. | 54,933 | 888,899 | ||||||||
Whitehaven Coal Ltd. | 234,546 | 693,358 | ||||||||
Woodside Petroleum Ltd. | 10,146 | 252,729 | ||||||||
Total Australia | 17,816,458 | |||||||||
Austria — 0.1% | ||||||||||
OMV AG | 3,545 | 189,705 | ||||||||
Brazil — 0.1% | ||||||||||
Yamana Gold, Inc. | 111,601 | 243,909 | ||||||||
Canada — 12.0% | ||||||||||
Agnico Eagle Mines Ltd. | 27,649 | 1,140,326 | ||||||||
Alamos Gold, Inc., Class A | 45,663 | 211,139 | ||||||||
B2Gold Corp.* | 117,980 | 319,244 | ||||||||
Barrick Gold Corp. | 205,761 | 2,604,899 | ||||||||
Canadian Natural Resources Ltd. | 13,019 | 389,254 | ||||||||
Canfor Corp.* | 62,439 | 650,290 | ||||||||
Canfor Pulp Products, Inc. | 32,552 | 354,994 | ||||||||
Centerra Gold, Inc.* | 34,293 | 173,861 | ||||||||
Detour Gold Corp.* | 20,642 | 182,605 | ||||||||
Enbridge, Inc. | 21,947 | 807,432 | ||||||||
First Majestic Silver Corp.* | 23,093 | 141,284 | ||||||||
Fortuna Silver Mines, Inc.* | 18,784 | 57,251 | ||||||||
Hudbay Minerals, Inc. | 11,886 | 78,816 | ||||||||
IAMGOLD Corp.* | 54,961 | 164,654 | ||||||||
Imperial Oil Ltd. | 8,437 | 244,103 | ||||||||
Kinross Gold Corp.* | 146,841 | 465,018 | ||||||||
Kirkland Lake Gold Ltd. | 24,643 | 793,405 | ||||||||
Labrador Iron Ore Royalty Corp. | 2,912 | 67,107 | ||||||||
Largo Resources Ltd.* | 24,070 | 30,240 | ||||||||
Maple Leaf Foods, Inc. | 18,611 | 432,486 | ||||||||
Mercer International, Inc.(b) | 32,512 | 460,370 | ||||||||
New Gold, Inc.* | 68,013 | 58,144 | ||||||||
Norbord, Inc. | 40,723 | 1,032,909 | ||||||||
Nutrien Ltd. | 24,680 | 1,333,072 | ||||||||
Osisko Gold Royalties Ltd. | 18,172 | 204,523 | ||||||||
Pan American Silver Corp. | 24,597 | 311,942 | ||||||||
Pembina Pipeline Corp. | 5,490 | 195,488 | ||||||||
Pretium Resources, Inc.* | 21,632 | 163,542 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Canada (continued) | ||||||||||
SEMAFO, Inc.* | 38,233 | $ | 101,182 | |||||||
SSR Mining, Inc.* | 14,224 | 163,049 | ||||||||
Suncor Energy, Inc. | 17,143 | 563,022 | ||||||||
Teck Resources Ltd., Class B | 130,092 | 3,063,719 | ||||||||
Torex Gold Resources, Inc.* | 9,995 | 95,180 | ||||||||
TransAlta Corp. | 65,315 | 438,929 | ||||||||
TransCanada Corp. | 10,017 | 476,128 | ||||||||
West Fraser Timber Co. Ltd. | 34,650 | 1,776,547 | ||||||||
Westshore Terminals Investment Corp.(b) | 15,305 | 239,155 | ||||||||
Wheaton Precious Metals Corp. | 52,185 | 1,124,235 | ||||||||
Total Canada | 21,109,544 | |||||||||
Chile — 0.4% | ||||||||||
Antofagasta PLC | 44,851 | 530,908 | ||||||||
Lundin Mining Corp. | 33,478 | 178,937 | ||||||||
Total Chile | 709,845 | |||||||||
China — 10.5% | ||||||||||
Beijing Enterprises Water Group Ltd.* | 900,577 | 559,030 | ||||||||
China Agri-Industries Holdings Ltd. | 215,374 | 69,454 | ||||||||
China Coal Energy Co., Ltd., Class H | 3,042,431 | 1,341,781 | ||||||||
China Modern Dairy Holdings Ltd.*(b) | 910,354 | 136,923 | ||||||||
China Petroleum & Chemical Corp., Class H | 1,313,690 | 1,009,706 | ||||||||
China Power International Development Ltd. | 2,250,358 | 599,491 | ||||||||
China Shenhua Energy Co., Ltd., Class H | 4,564,011 | 10,087,434 | ||||||||
CNOOC Ltd. | 484,450 | 875,609 | ||||||||
Guangdong Investment Ltd. | 588,111 | 1,101,949 | ||||||||
Jiangxi Copper Co., Ltd., Class H | 157,534 | 208,830 | ||||||||
MMG Ltd.* | 366,317 | 158,286 | ||||||||
PetroChina Co., Ltd., Class H | 1,985,877 | 1,260,569 | ||||||||
Shougang Fushan Resources Group Ltd. | 1,216,592 | 294,634 | ||||||||
Southern Energy Holdings Group Ltd.* | 164,757 | 321,307 | ||||||||
Zhaojin Mining Industry Co., Ltd., Class H | 378,255 | 325,442 | ||||||||
Total China | 18,350,445 | |||||||||
Egypt — 0.1% | ||||||||||
Centamin PLC | 135,516 | 156,349 | ||||||||
Finland — 8.4% | ||||||||||
Neste OYJ | 8,328 | 274,769 | ||||||||
Stora Enso OYJ, Class R | 393,234 | 4,876,319 | ||||||||
UPM-Kymmene OYJ | 265,934 | 7,483,593 | ||||||||
Valmet OYJ | 74,605 | 2,048,442 | ||||||||
Total Finland | 14,683,123 | |||||||||
France — 2.0% | ||||||||||
Suez | 55,577 | 780,122 | ||||||||
TOTAL SA | 28,313 | 1,572,083 | ||||||||
Veolia Environnement SA | 49,753 | 1,174,268 | ||||||||
Vilmorin & Cie SA | 938 | 52,140 | ||||||||
Total France | 3,578,613 |
See notes to financial statements.
Schedules of Investments — IQ Global Resources ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Germany — 0.2% | ||||||||||
Aurubis AG | 2,045 | $ | 99,511 | |||||||
GEA Group AG | 7,392 | 206,443 | ||||||||
Suedzucker AG(b) | 8,362 | 128,387 | ||||||||
Total Germany | 434,341 | |||||||||
Hong Kong — 0.5% | ||||||||||
Agritrade Resources Ltd.(b) | 1,462,732 | 238,649 | ||||||||
C.P. Pokphand Co., Ltd. | 3,790,839 | 323,739 | ||||||||
Hong Kong & China Gas Co., Ltd. | 166,951 | 398,364 | ||||||||
Total Hong Kong | 960,752 | |||||||||
Italy — 0.5% | ||||||||||
Eni SpA | 39,074 | 666,400 | ||||||||
Snam SpA | 35,816 | 182,111 | ||||||||
Total Italy | 848,511 | |||||||||
Ivory Coast — 0.1% | ||||||||||
Endeavour Mining Corp.* | 11,715 | 165,640 | ||||||||
Japan(c) — 3.2% | ||||||||||
Daio Paper Corp. | 74,841 | 862,814 | ||||||||
Ebara Corp. | 9,000 | 275,152 | ||||||||
Fuji Oil Holdings, Inc. | 3,520 | 112,672 | ||||||||
Hokuto Corp. | 1,297 | 22,289 | ||||||||
Itoham Yonekyu Holdings, Inc. | 44,202 | 275,035 | ||||||||
Kewpie Corp. | 5,858 | 134,964 | ||||||||
NH Foods Ltd.(b) | 15,407 | 618,355 | ||||||||
Nichirei Corp. | 5,458 | 125,552 | ||||||||
Nippon Flour Mills Co., Ltd. | 2,985 | 50,253 | ||||||||
Nippon Paper Industries Co., Ltd. | 57,705 | 1,141,924 | ||||||||
Nippon Steel Corp. | 40,153 | 714,011 | ||||||||
Nisshin Oillio Group Ltd. (The) | 1,398 | 39,853 | ||||||||
Nisshin Seifun Group, Inc. | 12,166 | 282,262 | ||||||||
Prima Meat Packers Ltd.(b) | 7,522 | 137,372 | ||||||||
S Foods, Inc. | 4,739 | 162,966 | ||||||||
Sumitomo Metal Mining Co., Ltd. | 12,501 | 390,491 | ||||||||
Toyo Suisan Kaisha Ltd. | 4,183 | 159,057 | ||||||||
UACJ Corp.(b) | 2,194 | 44,185 | ||||||||
Yamazaki Baking Co., Ltd. | 8,903 | 132,056 | ||||||||
Total Japan | 5,681,263 | |||||||||
Kazakhstan — 0.1% | ||||||||||
KAZ Minerals PLC | 21,408 | 180,457 | ||||||||
Luxembourg — 0.6% | ||||||||||
ArcelorMittal | 46,111 | 998,806 | ||||||||
Mexico — 0.5% | ||||||||||
Fresnillo PLC | 86,544 | 844,819 | ||||||||
Netherlands — 1.8% | ||||||||||
ForFarmers NV | 14,989 | 128,002 | ||||||||
OCI NV* | 8,580 | 248,564 | ||||||||
Royal Dutch Shell PLC, Class B | 88,958 | 2,858,083 | ||||||||
Total Netherlands | 3,234,649 | |||||||||
Norway — 1.0% | ||||||||||
Equinor ASA | 36,114 | 803,717 | ||||||||
Norsk Hydro ASA | 93,095 | 397,894 | ||||||||
Yara International ASA | 11,168 | 502,511 | ||||||||
Total Norway | 1,704,122 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Peru — 0.9% | ||||||||||
Hochschild Mining PLC | 60,063 | $ | 145,719 | |||||||
Nexa Resources SA | 6,060 | 71,750 | ||||||||
Southern Copper Corp. | 35,169 | 1,351,193 | ||||||||
Total Peru | 1,568,662 | |||||||||
Portugal — 1.4% | ||||||||||
Altri SGPS SA | 102,286 | 800,704 | ||||||||
Navigator Co. SA (The) | 357,771 | 1,579,760 | ||||||||
Total Portugal | 2,380,464 | |||||||||
Singapore — 0.6% | ||||||||||
First Resources Ltd. | 64,873 | 87,216 | ||||||||
Golden Agri-Resources Ltd. | 521,538 | 111,112 | ||||||||
Olam International Ltd. | 130,333 | 189,582 | ||||||||
Wilmar International Ltd. | 259,116 | 692,905 | ||||||||
Total Singapore | 1,080,815 | |||||||||
South Africa — 0.9% | ||||||||||
Anglo American PLC | 57,790 | 1,492,746 | ||||||||
Spain — 0.4% | ||||||||||
Ebro Foods SA | 6,301 | 132,757 | ||||||||
Naturgy Energy Group SA | 10,706 | 303,795 | ||||||||
Repsol SA | 16,499 | 279,760 | ||||||||
Total Spain | 716,312 | |||||||||
Sweden — 1.3% | ||||||||||
AAK AB | 10,391 | 168,596 | ||||||||
Boliden AB*(b) | 12,443 | 369,097 | ||||||||
Holmen AB, B Shares(b) | 83,767 | 1,759,611 | ||||||||
Total Sweden | 2,297,304 | |||||||||
Switzerland — 1.6% | ||||||||||
Bell Food Group AG* | 940 | 270,285 | ||||||||
Glencore PLC* | 625,107 | 2,480,211 | ||||||||
Total Switzerland | 2,750,496 | |||||||||
Tanzania — 0.1% | ||||||||||
Acacia Mining PLC* | 48,162 | 91,857 | ||||||||
United Kingdom — 2.1% | ||||||||||
BP PLC | 219,711 | 1,601,123 | ||||||||
Central Asia Metals PLC | 8,006 | 23,849 | ||||||||
Cranswick PLC | 7,728 | 291,962 | ||||||||
Pennon Group PLC | 37,827 | 369,158 | ||||||||
Severn Trent PLC | 21,334 | 566,254 | ||||||||
Tate & Lyle PLC | 18,951 | 189,639 | ||||||||
United Utilities Group PLC | 61,339 | 662,746 | ||||||||
Total United Kingdom | 3,704,731 | |||||||||
United States — 29.1% | ||||||||||
AK Steel Holding Corp.*(b) | 14,390 | 34,824 | ||||||||
Alcoa Corp.* | 8,440 | 225,179 | ||||||||
American Water Works Co., Inc. | 16,238 | 1,756,789 | ||||||||
Anadarko Petroleum Corp. | 5,421 | 394,920 | ||||||||
Aqua America, Inc. | 16,045 | 626,718 | ||||||||
Archer-Daniels-Midland Co. | 22,938 | 1,023,035 | ||||||||
Bunge Ltd. | 5,779 | 302,877 | ||||||||
Campbell Soup Co.(b) | 12,332 | 477,125 | ||||||||
Carpenter Technology Corp. | 2,155 | 107,039 | ||||||||
Century Aluminum Co.*(b) | 4,008 | 33,707 | ||||||||
CF Industries Holdings, Inc. | 9,108 | 407,856 | ||||||||
Chevron Corp. | 20,617 | 2,475,277 |
See notes to financial statements.
Schedules of Investments — IQ Global Resources ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
United States (continued) | ||||||||||
Cleveland-Cliffs, Inc.(b) | 13,219 | $ | 132,058 | |||||||
Coeur Mining, Inc.*(b) | 24,100 | 87,001 | ||||||||
Commercial Metals Co. | 5,365 | 92,761 | ||||||||
Conagra Brands, Inc. | 19,889 | 612,183 | ||||||||
Concho Resources, Inc. | 2,177 | 251,182 | ||||||||
ConocoPhillips | 12,309 | 776,944 | ||||||||
CONSOL Energy, Inc.* | 6,335 | 214,757 | ||||||||
Continental Resources, Inc.* | 4,080 | 187,639 | ||||||||
Diamondback Energy, Inc. | 1,784 | 189,800 | ||||||||
Domtar Corp. | 31,376 | 1,534,286 | ||||||||
Ecolab, Inc. | 25,940 | 4,775,035 | ||||||||
EOG Resources, Inc. | 6,294 | 604,539 | ||||||||
Exxon Mobil Corp. | 45,974 | 3,690,793 | ||||||||
Flowers Foods, Inc.(b) | 8,637 | 187,768 | ||||||||
Flowserve Corp. | 11,783 | 577,721 | ||||||||
FMC Corp. | 5,390 | 426,133 | ||||||||
Freeport-McMoRan, Inc. | 65,924 | 811,524 | ||||||||
Fresh Del Monte Produce, Inc. | 1,977 | 58,341 | ||||||||
General Mills, Inc. | 24,523 | 1,262,199 | ||||||||
Halliburton Co. | 9,468 | 268,228 | ||||||||
Hecla Mining Co. | 56,724 | 119,120 | ||||||||
Hess Corp. | 3,288 | 210,827 | ||||||||
Hormel Foods Corp. | 80,159 | 3,201,550 | ||||||||
IDEX Corp. | 6,818 | 1,068,108 | ||||||||
Ingredion, Inc. | 2,730 | 258,668 | ||||||||
John Bean Technologies Corp. | 1,291 | 141,739 | ||||||||
Kellogg Co. | 14,077 | 848,843 | ||||||||
Kinder Morgan, Inc. | 24,562 | 488,047 | ||||||||
Lamb Weston Holdings, Inc. | 5,999 | 420,230 | ||||||||
Louisiana-Pacific Corp. | 61,549 | 1,541,802 | ||||||||
Marathon Petroleum Corp. | 7,299 | 444,290 | ||||||||
McEwen Mining, Inc.(b) | 40,635 | 56,076 | ||||||||
Mosaic Co. (The) | 15,787 | 412,199 | ||||||||
Newmont Goldcorp Corp. | 96,099 | 2,984,835 | ||||||||
Nucor Corp. | 13,866 | 791,333 | ||||||||
Occidental Petroleum Corp. | 8,115 | 477,811 | ||||||||
ONEOK, Inc. | 4,466 | 303,375 | ||||||||
Peabody Energy Corp. | 24,831 | 714,388 | ||||||||
Pentair PLC | 15,443 | 602,123 | ||||||||
Phillips 66 | 4,948 | 466,448 | ||||||||
Pilgrim’s Pride Corp.* | 37,255 | 1,002,532 | ||||||||
Pioneer Natural Resources Co. | 1,827 | 304,122 | ||||||||
Post Holdings, Inc.* | 2,723 | 307,100 | ||||||||
Reliance Steel & Aluminum Co. | 3,052 | 280,662 | ||||||||
Sanderson Farms, Inc. | 3,315 | 502,653 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
United States (continued) | ||||||||||
Schlumberger Ltd. | 15,039 | $ | 641,865 | |||||||
Seaboard Corp. | 175 | 786,727 | ||||||||
Steel Dynamics, Inc. | 10,142 | 321,299 | ||||||||
Tyson Foods, Inc., Class A | 53,611 | 4,021,361 | ||||||||
United States Steel Corp.(b) | 7,886 | 123,022 | ||||||||
Valero Energy Corp. | 4,531 | 410,780 | ||||||||
Warrior Met Coal, Inc. | 11,830 | 366,730 | ||||||||
Williams Cos., Inc. (The) | 13,148 | 372,483 | ||||||||
Xylem, Inc.(b) | 16,152 | 1,347,077 | ||||||||
Total United States | 50,946,463 | |||||||||
Zambia — 0.2% | ||||||||||
First Quantum Minerals Ltd. | 31,363 | 329,904 | ||||||||
Total Common Stocks | ||||||||||
(Cost $157,346,691) | 159,283,561 | |||||||||
Short-Term Investment — 8.9% | ||||||||||
Money Market Fund — 8.9% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 2.32%(d) | ||||||||||
(Cost $15,589,427) | 15,589,427 | 15,589,427 | ||||||||
Investment of Cash Collateral For Securities Loaned — 2.0% | ||||||||||
Money Market Fund — 2.0% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(d) | ||||||||||
(Cost $3,586,080) | 3,586,080 | 3,586,080 | ||||||||
Total Investments — 101.8% | ||||||||||
(Cost $176,522,198) | 178,459,068 | |||||||||
Other Assets and Liabilities, Net — (1.8)% | (3,147,131 | ) | ||||||||
Net Assets — 100.0% | $ | 175,311,937 |
* | Non-income producing securities. |
(a) | Less than 0.05%. |
(b) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $5,535,999; total market value of collateral held by the Fund was $5,807,103. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $2,221,023. |
(c) | These securities are deemed illiquid due to the extended closure of the Japanese market. |
(d) | Reflects the 1-day yield at April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ Global Resources ETF(continued)
April 30, 2019
Total Return Benchmark | Counterparty | Annual Financing Rate Received (Paid)% | Expiration Date | Payment Frequency Received/ (Paid) | Notional Amount Long (Short) | Value/ Unrealized Appreciation/ (Depreciation)(e) | ||||||||||||
iShares MSCI EAFE ETF | Morgan Stanley | 2.10 | 5/04/2020 | Monthly | $ | (18,288,435 | ) | $ | — | |||||||||
SPDR S&P 500 ETF Trust | Morgan Stanley | 2.10 | 5/04/2020 | Monthly | (18,493,858 | ) | — | |||||||||||
$ | — |
(e) | Reflects the value at reset date of April 30, 2019. |
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(f) | ||||||||||||||||||
Common Stocks | ||||||||||||||||||
Argentina | $ | 32,456 | $ | — | $ | — | $ | 32,456 | ||||||||||
Australia | 17,816,458 | — | — | 17,816,458 | ||||||||||||||
Austria | 189,705 | — | — | 189,705 | ||||||||||||||
Brazil | 243,909 | — | — | 243,909 | ||||||||||||||
Canada | 21,109,544 | — | — | 21,109,544 | ||||||||||||||
Chile | 709,845 | — | — | 709,845 | ||||||||||||||
China | 18,350,445 | — | — | 18,350,445 | ||||||||||||||
Egypt | 156,349 | — | — | 156,349 | ||||||||||||||
Finland | 14,683,123 | — | — | 14,683,123 | ||||||||||||||
France | 3,578,613 | — | — | 3,578,613 | ||||||||||||||
Germany | 434,341 | — | — | 434,341 | ||||||||||||||
Hong Kong | 960,752 | — | — | 960,752 | ||||||||||||||
Italy | 848,511 | — | — | 848,511 | ||||||||||||||
Ivory Coast | 165,640 | — | — | 165,640 | ||||||||||||||
Japan | — | 5,681,263 | — | 5,681,263 | ||||||||||||||
Kazakhstan | 180,457 | — | — | 180,457 | ||||||||||||||
Luxembourg | 998,806 | — | — | 998,806 | ||||||||||||||
Mexico | 844,819 | — | — | 844,819 | ||||||||||||||
Netherlands | 3,234,649 | — | — | 3,234,649 | ||||||||||||||
Norway | 1,704,122 | — | — | 1,704,122 | ||||||||||||||
Peru | 1,568,662 | — | — | 1,568,662 | ||||||||||||||
Portugal | 2,380,464 | — | — | 2,380,464 | ||||||||||||||
Singapore | �� | 1,080,815 | — | — | 1,080,815 | |||||||||||||
South Africa | 1,492,746 | — | — | 1,492,746 | ||||||||||||||
Spain | 716,312 | — | — | 716,312 | ||||||||||||||
Sweden | 2,297,304 | — | — | 2,297,304 | ||||||||||||||
Switzerland | 2,750,496 | — | — | 2,750,496 | ||||||||||||||
Tanzania | 91,857 | — | — | 91,857 | ||||||||||||||
United Kingdom | 3,704,731 | — | — | 3,704,731 | ||||||||||||||
United States | 50,946,463 | — | — | 50,946,463 | ||||||||||||||
Zambia | 329,904 | — | — | 329,904 | ||||||||||||||
Total Common Stocks | 153,602,298 | 5,681,263 | — | 159,283,561 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 15,589,427 | — | — | 15,589,427 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 3,586,080 | — | — | 3,586,080 | ||||||||||||||
Total Investments in Securities | 172,777,805 | 5,681,263 | — | 178,459,068 | ||||||||||||||
Other Financial Instruments:(g) | ||||||||||||||||||
Swap Contracts | — | — | — | — | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 172,777,805 | $ | 5,681,263 | $ | — | $ | 178,459,068 |
See notes to financial statements.
Schedules of Investments — IQ Global Resources ETF(continued)
April 30, 2019
Liability Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(g) | ||||||||||||||||||
Swap Contracts | $ | — | $ | — | $ | — | $ | — |
(f) | For a complete listing of investments and their countries, see the Schedules of Investments. |
(g) | Reflects the unrealized appreciation (depreciation) of the instruments. |
Investments in Securities | Balance as of April 30, 2018 | 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, 2019 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2019(h) | ||||||||||||||||||||||||||||||||
Common Stock: Sakari Resources Ltd. | $ | 214,241 | $ | — | $ | (244,347 | ) | $ | 139,499 | $ | — | $ | (109,393 | ) | $ | — | $ | — | $ | — | $ | — |
(h) | Included in “Net change in unrealized appreciation (depreciation) on investments” in the Statements of Operations. |
See notes to financial statements.
Schedules of Investments — IQ Global Agribusiness Small Cap ETF
April 30, 2019
Shares | Value | |||||||||
Common Stocks — 99.8% | ||||||||||
Argentina — 1.9% | ||||||||||
Adecoagro SA* | 27,120 | $ | 184,416 | |||||||
Australia — 15.0% | ||||||||||
Australian Agricultural Co., Ltd.*(a) | 73,087 | 60,702 | ||||||||
Bega Cheese Ltd.(a) | 44,826 | 159,647 | ||||||||
Costa Group Holdings Ltd. | 69,462 | 277,211 | ||||||||
Elders Ltd. | 26,335 | 111,957 | ||||||||
GrainCorp Ltd., Class A | 52,587 | 333,120 | ||||||||
Inghams Group Ltd.(a) | 59,066 | 185,003 | ||||||||
Nufarm Ltd.(a) | 72,451 | 258,033 | ||||||||
Select Harvests Ltd. | 21,770 | 98,066 | ||||||||
Total Australia | 1,483,739 | |||||||||
Canada — 5.3% | ||||||||||
Maple Leaf Foods, Inc. | 17,619 | 409,434 | ||||||||
Village Farms International, Inc.*(a) | 8,698 | 107,787 | ||||||||
Total Canada | 517,221 | |||||||||
China — 5.9% | ||||||||||
Ausnutria Dairy Corp., Ltd. | 108,766 | 175,514 | ||||||||
China BlueChemical Ltd., Class H | 415,646 | 141,456 | ||||||||
China Huishan Dairy Holdings Co., Ltd.*(b)(c) | 938,079 | — | ||||||||
COFCO Meat Holdings Ltd.* | 294,051 | 120,313 | ||||||||
Leyou Technologies Holdings Ltd.*(a) | 331,229 | 94,994 | ||||||||
Sinofert Holdings Ltd.* | 412,168 | 50,960 | ||||||||
Total China | 583,237 | |||||||||
Indonesia — 3.0% | ||||||||||
PT Astra Agro Lestari Tbk | 91,767 | 70,032 | ||||||||
PT Japfa Comfeed Indonesia Tbk | 988,491 | 108,214 | ||||||||
PT Malindo Feedmill Tbk | 224,512 | 18,985 | ||||||||
PT Perusahaan Perkebunan London Sumatra Indonesia Tbk | 647,026 | 49,492 | ||||||||
PT Sawit Sumbermas Sarana Tbk | 699,602 | 53,268 | ||||||||
Total Indonesia | 299,991 | |||||||||
Japan(d) — 32.1% | ||||||||||
Feed One Co. Ltd. | 30,157 | 46,302 | ||||||||
Fuji Oil Holdings, Inc. | 12,142 | 388,653 | ||||||||
Itoham Yonekyu Holdings, Inc. | 34,831 | 216,726 | ||||||||
Kumiai Chemical Industry Co., Ltd. | 25,998 | 190,010 | ||||||||
Megmilk Snow Brand Co., Ltd. | 11,623 | 255,993 | ||||||||
Morinaga Milk Industry Co., Ltd. | 9,658 | 317,814 | ||||||||
NH Foods Ltd. | 23,317 | 935,820 | ||||||||
Nichirei Corp. | 28,541 | 656,539 | ||||||||
Nihon Nohyaku Co., Ltd. | 8,652 | 36,667 | ||||||||
Prima Meat Packers Ltd. | 6,689 | 122,159 | ||||||||
Total Japan | 3,166,683 | |||||||||
Singapore — 5.5% | ||||||||||
Golden Agri-Resources Ltd. | 1,483,643 | 316,086 | ||||||||
Japfa Ltd. | 85,439 | 40,171 | ||||||||
Olam International Ltd. | 128,395 | 186,763 | ||||||||
Total Singapore | 543,020 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Spain — 2.7% | ||||||||||
Ebro Foods SA | 12,619 | $ | 265,872 | |||||||
Thailand — 2.2% | ||||||||||
GFPT PCL | 227,043 | 110,232 | ||||||||
Thai Vegetable Oil PCL | 125,393 | 106,049 | ||||||||
Total Thailand | 216,281 | |||||||||
United States — 26.2% | ||||||||||
AGCO Corp. | 14,367 | 1,016,896 | ||||||||
Cal-Maine Foods, Inc. | 5,309 | 218,253 | ||||||||
CVR Partners LP | 17,374 | 63,589 | ||||||||
Element Solutions, Inc.* | 51,928 | 563,938 | ||||||||
Sanderson Farms, Inc. | 4,234 | 642,001 | ||||||||
Titan International, Inc. | 11,651 | 80,742 | ||||||||
Total United States | 2,585,419 | |||||||||
Total Common Stocks | ||||||||||
(Cost $9,772,693) | 9,845,879 | |||||||||
Investment of Cash Collateral For Securities Loaned — 6.0% | ||||||||||
Money Market Fund — 6.0% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(e) | ||||||||||
(Cost $594,995) | 594,995 | 594,995 | ||||||||
Total Investments — 105.8% | ||||||||||
(Cost $10,367,688) | 10,440,874 | |||||||||
�� | ||||||||||
Other Assets and Liabilities, Net — (5.8)% | (576,953 | ) | ||||||||
Net Assets — 100.0% | $ | 9,863,921 |
* | 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 $678,369; total market value of collateral held by the Fund was $729,484. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $134,489. |
(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, 2019, the value of this security was $ —. |
(c) | Security is 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. |
(d) | These securities are deemed illiquid due to the extended closure of the Japanese market. |
(e) | Reflects the 1-day yield at April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ Global Agribusiness Small Cap ETF(continued)
April 30, 2019
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(f) | ||||||||||||||||||
Common Stocks | ||||||||||||||||||
Argentina | $ | 184,416 | $ | — | $ | — | $ | 184,416 | ||||||||||
Australia | 1,483,739 | — | — | 1,483,739 | ||||||||||||||
Canada | 517,221 | — | — | 517,221 | ||||||||||||||
China | 583,237 | — | — | (g) | 583,237 | |||||||||||||
Indonesia | 299,991 | — | — | 299,991 | ||||||||||||||
Japan | — | 3,166,683 | — | 3,166,683 | ||||||||||||||
Singapore | 543,020 | — | — | 543,020 | ||||||||||||||
Spain | 265,872 | — | — | 265,872 | ||||||||||||||
Thailand | 216,281 | — | — | 216,281 | ||||||||||||||
United States | 2,585,419 | — | — | 2,585,419 | ||||||||||||||
Total Common Stocks | 6,679,196 | 3,166,683 | — | 9,845,879 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 594,995 | — | — | 594,995 | ||||||||||||||
Total Investments in Securities | $ | 7,274,191 | $ | 3,166,683 | $ | — | $ | 10,440,874 |
(f) | For a complete listing of investments and their countries, see the Schedules of Investments. |
(g) | 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, 2018 | 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, 2019 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2019(h) | ||||||||||||||||||||||||||||||||
Common Stocks | ||||||||||||||||||||||||||||||||||||||||||
China Huishan Dairy Holdings Co., Ltd.(i) | $ | — | (j) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | (j) | $ | — | ||||||||||||||||||||
Security Type | Fair Value | Valuation Technique | Unobservable Inputs | |||||
Common Stock | $ — | Issuer Specific | Company Announcements |
(h) | Included in “Net change in unrealized appreciation (depreciation) on investments” in the Statements of Operations. |
(i) | Security has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees. |
(j) | 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, 2019
Shares | Value | |||||||||
Common Stocks — 99.7% | ||||||||||
Diversified REITs — 16.8% | ||||||||||
Alexander & Baldwin, Inc. | 46,848 | $ | 1,106,550 | |||||||
American Assets Trust, Inc. | 26,227 | 1,211,425 | ||||||||
Empire State Realty Trust, Inc., Class A | 121,320 | 1,875,607 | ||||||||
Exantas Capital Corp. | 20,789 | 227,640 | ||||||||
Granite Point Mortgage Trust, Inc.(a) | 34,811 | 669,416 | ||||||||
Industrial Logistics Properties Trust | 45,096 | 895,156 | ||||||||
Kennedy-Wilson Holdings, Inc.(a) | 82,722 | 1,781,832 | ||||||||
Monmouth Real Estate Investment Corp. | 60,081 | 825,513 | ||||||||
New Senior Investment Group, Inc. | 55,871 | 312,319 | ||||||||
Preferred Apartment Communities, Inc., Class A(a) | 29,399 | 459,800 | ||||||||
Redwood Trust, Inc.(a) | 65,912 | 1,078,320 | ||||||||
Washington Real Estate Investment Trust(a) | 54,879 | 1,549,783 | ||||||||
Winthrop Realty Trust*(a)(b)(c) | 29,107 | 9,896 | ||||||||
Total Diversified REITs | 12,003,257 | |||||||||
Hotel REITs — 12.5% | ||||||||||
Ashford Hospitality Trust, Inc. | 66,368 | 365,688 | ||||||||
Braemar Hotels & Resorts, Inc. | 21,291 | 295,945 | ||||||||
Chatham Lodging Trust | 31,536 | 620,944 | ||||||||
Chesapeake Lodging Trust(a) | 41,025 | 1,169,212 | ||||||||
DiamondRock Hospitality Co. | 137,028 | 1,488,124 | ||||||||
Hersha Hospitality Trust | 26,174 | 486,051 | ||||||||
MGM Growth Properties LLC, Class A | 62,468 | 2,015,218 | ||||||||
Summit Hotel Properties, Inc.(a) | 70,838 | 822,429 | ||||||||
Xenia Hotels & Resorts, Inc.(a) | 77,925 | 1,687,076 | ||||||||
Total Hotel REITs | 8,950,687 | |||||||||
Mortgage REITs — 13.2% | ||||||||||
AG Mortgage Investment Trust, Inc. | 21,938 | 375,359 | ||||||||
Anworth Mortgage Asset Corp. | 67,022 | 280,822 | ||||||||
Apollo Commercial Real Estate Finance, Inc.(a) | 92,549 | 1,734,368 | ||||||||
Arbor Realty Trust, Inc.(a) | 51,109 | 698,149 | ||||||||
ARMOUR Residential REIT, Inc. | 40,924 | 780,830 | ||||||||
Capstead Mortgage Corp.(a) | 58,149 | 499,500 | ||||||||
Dynex Capital, Inc. | 47,841 | 291,830 | ||||||||
Front Yard Residential Corp. | 33,670 | 333,670 | ||||||||
Invesco Mortgage Capital, Inc. | 88,247 | 1,440,191 | ||||||||
iStar, Inc.(a) | 44,817 | 388,563 | ||||||||
KKR Real Estate Finance Trust, Inc. | 16,457 | 331,938 | ||||||||
New York Mortgage Trust, Inc.(a) | 127,677 | 804,365 | ||||||||
Orchid Island Capital, Inc. | 32,555 | 213,886 | ||||||||
PennyMac Mortgage Investment Trust | 45,788 | 961,548 | ||||||||
Western Asset Mortgage Capital Corp. | 32,251 | 339,281 | ||||||||
Total Mortgage REITs | 9,474,300 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Office REITs — 16.4% | ||||||||||
Brandywine Realty Trust | 120,244 | $ | 1,850,555 | |||||||
City Office REIT, Inc.(a) | 25,945 | 300,962 | ||||||||
Easterly Government Properties, Inc.(a) | 41,966 | 755,388 | ||||||||
Franklin Street Properties Corp. | 71,355 | 560,850 | ||||||||
Global Net Lease, Inc. | 58,006 | 1,106,175 | ||||||||
Lexington Realty Trust | 158,374 | 1,436,452 | ||||||||
Mack-Cali Realty Corp. | 55,349 | 1,288,525 | ||||||||
Office Properties Income Trust | 32,663 | 886,474 | ||||||||
Rexford Industrial Realty, Inc. | 66,881 | 2,534,121 | ||||||||
Tier REIT, Inc. | 36,826 | 1,043,649 | ||||||||
Total Office REITs | 11,763,151 | |||||||||
Residential REIT — 0.9% | ||||||||||
Independence Realty Trust, Inc. | 61,482 | 651,094 | ||||||||
Retail REITs — 19.5% | ||||||||||
Acadia Realty Trust | 56,236 | 1,588,105 | ||||||||
Agree Realty Corp.(a) | 25,182 | 1,648,665 | ||||||||
Brookfield Property REIT, Inc., Class A | 69,242 | 1,442,311 | ||||||||
CBL & Associates Properties, Inc.(a) | 116,378 | 117,542 | ||||||||
Cedar Realty Trust, Inc. | 58,968 | 181,032 | ||||||||
Four Corners Property Trust, Inc.(a) | 47,043 | 1,337,903 | ||||||||
Kite Realty Group Trust(a) | 57,690 | 910,925 | ||||||||
Pennsylvania Real Estate Investment Trust(a) | 43,809 | 263,730 | ||||||||
Retail Opportunity Investments Corp. | 77,193 | 1,354,737 | ||||||||
RPT Realty(a) | 54,306 | 658,732 | ||||||||
Seritage Growth Properties, Class A(a) | 22,419 | 999,663 | ||||||||
Tanger Factory Outlet Centers, Inc. | 63,616 | 1,148,905 | ||||||||
Urban Edge Properties | 75,575 | 1,403,428 | ||||||||
Washington Prime Group, Inc.(a) | 128,251 | 570,717 | ||||||||
Whitestone REIT | 26,235 | 336,595 | ||||||||
Total Retail REITs | 13,962,990 | |||||||||
Specialized REITs — 20.4% | ||||||||||
American Finance Trust, Inc. | 73,396 | 720,015 | ||||||||
CareTrust REIT, Inc. | 60,599 | 1,469,526 | ||||||||
CatchMark Timber Trust, Inc., Class A(a) | 33,640 | 336,400 | ||||||||
InfraREIT, Inc. | 27,150 | 571,507 | ||||||||
Innovative Industrial Properties, Inc.(a) | 6,388 | 543,874 | ||||||||
LTC Properties, Inc. | 27,061 | 1,219,369 | ||||||||
MedEquities Realty Trust, Inc. | 19,213 | 205,771 | ||||||||
National Storage Affiliates Trust | 39,138 | 1,145,178 | ||||||||
Physicians Realty Trust | 125,678 | 2,269,745 | ||||||||
QTS Realty Trust, Inc., Class A(a) | 40,065 | 1,816,948 | ||||||||
Spirit MTA REIT | 29,579 | 199,362 | ||||||||
STAG Industrial, Inc. | 77,845 | 2,240,379 | ||||||||
Terreno Realty Corp. | 41,308 | 1,844,402 | ||||||||
Total Specialized REITs | 14,582,476 | |||||||||
Total Common Stocks | ||||||||||
(Cost $74,739,746) | 71,387,955 |
See notes to financial statements.
Schedules of Investments — IQ U.S. Real Estate Small Cap ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Short-Term Investment — 0.3% | ||||||||||
Money Market Fund — 0.3% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 2.32%(d) | ||||||||||
(Cost $181,070) | 181,070 | $ | 181,070 | |||||||
Investment of Cash Collateral For Securities Loaned — 4.5% | ||||||||||
Money Market Fund — 4.5% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(d) | ||||||||||
(Cost $3,241,315) | 3,241,315 | 3,241,315 | ||||||||
Total Investments — 104.5% | ||||||||||
(Cost $78,162,131) | 74,810,340 | |||||||||
Other Assets and Liabilities, Net — (4.5)% | (3,195,345 | ) | ||||||||
Net Assets — 100.0% | $ | 71,614,995 |
* | 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 $14,857,669; total market value of collateral held by the Fund was $15,222,033. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $11,980,718. |
(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, 2019, the value of this security was $9,896. |
(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. |
(d) | Reflects the 1-day yield at April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ U.S. Real Estate Small Cap ETF(continued)
April 30, 2019
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(e) | ||||||||||||||||||
Common Stocks | ||||||||||||||||||
Diversified REITs | $ | 11,993,361 | $ | — | $ | 9,896 | (f) | $ | 12,003,257 | |||||||||
Hotel REITs | 8,950,687 | — | — | 8,950,687 | ||||||||||||||
Mortgage REITs | 9,474,300 | — | — | 9,474,300 | ||||||||||||||
Office REITs | 11,763,151 | — | — | 11,763,151 | ||||||||||||||
Residential REITs | 651,094 | — | — | 651,094 | ||||||||||||||
Retail REITs | 13,962,990 | — | — | 13,962,990 | ||||||||||||||
Specialized REITs | 14,582,476 | — | — | 14,582,476 | ||||||||||||||
Total Common Stocks | 71,378,059 | — | 9,896 | 71,387,955 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 181,070 | — | — | 181,070 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 3,241,315 | — | — | 3,241,315 | ||||||||||||||
Total Investments in Securities | $ | 74,800,444 | $ | — | $ | 9,896 | $ | 74,810,340 |
(e) | For a complete listing of investments and their industries, see the Schedules of Investments. |
(f) | The Level 3 security, valued at $9,896, 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, 2018 | 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, 2019 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2019(g) | ||||||||||||||||||||||||||||||||
Common Stock: | ||||||||||||||||||||||||||||||||||||||||||
Winthrop Realty Trust(h) | $ | 164,454 | $ | — | $ | — | $ | 21,539 | $ | — | $ | (176,097 | ) | $ | — | $ | — | $ | 9,896 | $ | 21,539 |
(g) | Included in “Net change in unrealized appreciation (depreciation) on investments” in the Statement of Operations. |
(h) | Security has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees. |
Security Type | Fair Value | Valuation Technique | Unobservable Inputs | ||||||
Common Stock | $ 9,896 | Issuer Specific Facts | Company Information |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF
April 30, 2019
Principal Amount | Value | |||||||||
Long-Term Bonds — 98.1% | ||||||||||
Corporate Bonds — 91.2% | ||||||||||
Consumer Discretionary — 9.8% | ||||||||||
Allison Transmission, Inc. | ||||||||||
5.000%, due 10/1/24‡ | $ | 155,000 | $ | 156,356 | ||||||
5.875%, due 6/1/29‡ | 100,000 | 102,875 | ||||||||
Boyd Gaming Corp. | ||||||||||
6.000%, due 8/15/26 | 125,000 | 129,687 | ||||||||
6.375%, due 4/1/26 | 136,000 | 142,800 | ||||||||
Churchill Downs, Inc. | ||||||||||
4.750%, due 1/15/28‡ | 55,000 | 53,969 | ||||||||
5.500%, due 4/1/27‡ | 125,000 | 128,125 | ||||||||
Dana, Inc. | ||||||||||
5.500%, due 12/15/24 | 76,000 | 76,950 | ||||||||
Eldorado Resorts, Inc. | ||||||||||
6.000%, due 4/1/25 | 160,000 | 165,000 | ||||||||
6.000%, due 9/15/26 | 120,000 | 124,800 | ||||||||
ESH Hospitality, Inc. | �� | |||||||||
5.250%, due 5/1/25‡ | 205,000 | 205,769 | ||||||||
Goodyear Tire & Rubber Co. (The) | ||||||||||
5.125%, due 11/15/23(a) | 155,000 | 156,937 | ||||||||
Hanesbrands, Inc. | ||||||||||
4.625%, due 5/15/24‡ | 176,000 | 176,880 | ||||||||
4.875%, due 5/15/26‡ | 154,000 | 154,192 | ||||||||
Hilton Domestic Operating Co., Inc. | ||||||||||
4.250%, due 9/1/24 | 124,000 | 124,000 | ||||||||
5.125%, due 5/1/26‡ | 285,000 | 291,412 | ||||||||
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp. | ||||||||||
4.625%, due 4/1/25 | 115,000 | 116,294 | ||||||||
4.875%, due 4/1/27 | 134,000 | 135,675 | ||||||||
International Game Technology PLC | ||||||||||
6.250%, due 2/15/22‡ | 303,000 | 315,877 | ||||||||
6.250%, due 1/15/27‡ | 99,000 | 103,826 | ||||||||
6.500%, due 2/15/25‡ | 203,000 | 215,687 | ||||||||
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC | ||||||||||
4.750%, due 6/1/27‡ | 119,000 | 117,810 | ||||||||
5.000%, due 6/1/24‡ | 208,000 | 212,680 | ||||||||
5.250%, due 6/1/26‡ | 202,000 | 207,555 | ||||||||
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc. | ||||||||||
4.500%, due 9/1/26 | 90,000 | 88,988 | ||||||||
5.625%, due 5/1/24 | 149,000 | 156,636 | ||||||||
5.750%, due 2/1/27‡ | 175,000 | 183,750 | ||||||||
MGM Resorts International | ||||||||||
4.625%, due 9/1/26 | 129,000 | 127,710 | ||||||||
5.500%, due 4/15/27 | 175,000 | 180,469 | ||||||||
5.750%, due 6/15/25 | 175,000 | 185,063 | ||||||||
6.000%, due 3/15/23 | 229,000 | 243,885 | ||||||||
6.625%, due 12/15/21 | 218,000 | 233,805 | ||||||||
7.750%, due 3/15/22 | 150,000 | 165,750 | ||||||||
Panther BF Aggregator 2 LP / Panther Finance Co., Inc. | ||||||||||
6.250%, due 5/15/26‡ | 175,000 | 182,000 | ||||||||
Penske Automotive Group, Inc. | ||||||||||
5.500%, due 5/15/26 | 77,000 | 77,193 | ||||||||
QVC, Inc. | ||||||||||
4.450%, due 2/15/25 | 115,000 | 114,781 | ||||||||
4.850%, due 4/1/24 | 75,000 | 76,652 | ||||||||
Scientific Games International, Inc. | ||||||||||
5.000%, due 10/15/25‡ | 251,000 | 249,118 | ||||||||
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Consumer Discretionary (continued) | ||||||||||
Six Flags Entertainment Corp. | ||||||||||
4.875%, due 7/31/24‡ | $ | 99,000 | $ | 99,248 | ||||||
5.500%, due 4/15/27‡ | 150,000 | 152,250 | ||||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. | ||||||||||
5.500%, due 3/1/25‡ | 314,000 | 316,355 | ||||||||
6,448,809 | ||||||||||
Consumer Staples — 3.2% | ||||||||||
Energizer Holdings, Inc. | ||||||||||
5.500%, due 6/15/25‡ | 85,000 | 85,637 | ||||||||
Lamb Weston Holdings, Inc. | ||||||||||
4.625%, due 11/1/24‡ | 167,000 | 169,505 | ||||||||
4.875%, due 11/1/26‡ | 166,000 | 168,490 | ||||||||
Pilgrim’s Pride Corp. | ||||||||||
5.750%, due 3/15/25‡ | 184,000 | 188,370 | ||||||||
5.875%, due 9/30/27‡ | 150,000 | 155,063 | ||||||||
Post Holdings, Inc. | ||||||||||
5.000%, due 8/15/26‡ | 350,000 | 349,125 | ||||||||
5.500%, due 3/1/25‡ | 225,000 | 229,500 | ||||||||
5.625%, due 1/15/28‡ | 136,000 | 137,020 | ||||||||
5.750%, due 3/1/27‡ | 213,000 | 218,591 | ||||||||
Spectrum Brands, Inc. | ||||||||||
5.750%, due 7/15/25 | 200,000 | 204,750 | ||||||||
Tempur Sealy International, Inc. | ||||||||||
5.500%, due 6/15/26 | 99,000 | 98,629 | ||||||||
5.625%, due 10/15/23 | 78,000 | 78,975 | ||||||||
2,083,655 | ||||||||||
Energy — 10.7% | ||||||||||
AmeriGas Partners LP / AmeriGas Finance Corp. | ||||||||||
5.500%, due 5/20/25 | 150,000 | 153,562 | ||||||||
5.625%, due 5/20/24 | 150,000 | 156,375 | ||||||||
5.750%, due 5/20/27 | 100,000 | 103,250 | ||||||||
5.875%, due 8/20/26 | 78,000 | 81,315 | ||||||||
Antero Midstream Partners LP / Antero Midstream Finance Corp. | ||||||||||
5.375%, due 9/15/24 | 81,000 | 82,721 | ||||||||
5.750%, due 3/1/27‡ | 143,000 | 145,681 | ||||||||
Antero Resources Corp. | ||||||||||
5.000%, due 3/1/25(a) | 115,000 | 113,275 | ||||||||
5.125%, due 12/1/22 | 200,000 | 200,750 | ||||||||
5.625%, due 6/1/23 | 132,000 | 133,320 | ||||||||
Cheniere Corpus Christi Holdings LLC | ||||||||||
5.125%, due 6/30/27 | 243,000 | 253,327 | ||||||||
5.875%, due 3/31/25 | 264,000 | 284,460 | ||||||||
7.000%, due 6/30/24 | 280,000 | 313,950 | ||||||||
Cheniere Energy Partners LP | ||||||||||
5.250%, due 10/1/25 | 237,000 | 242,036 | ||||||||
5.625%, due 10/1/26‡ | 210,000 | 216,562 | ||||||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. | ||||||||||
5.750%, due 4/1/25(a) | 101,000 | 103,146 | ||||||||
DCP Midstream Operating LP | ||||||||||
5.375%, due 7/15/25 | 143,000 | 149,971 | ||||||||
Diamondback Energy, Inc. | ||||||||||
4.750%, due 11/1/24‡ | 142,000 | 145,017 | ||||||||
5.375%, due 5/31/25 | 130,000 | 135,688 |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF(continued)
April 30, 2019
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Energy (continued) | ||||||||||
Endeavor Energy Resources LP / EER Finance, Inc. | ||||||||||
5.500%, due 1/30/26‡ | $ | 111,000 | $ | 116,273 | ||||||
5.750%, due 1/30/28‡ | 80,000 | 85,600 | ||||||||
EnLink Midstream Partners LP | ||||||||||
4.150%, due 6/1/25 | 150,000 | 144,893 | ||||||||
4.850%, due 7/15/26 | 93,000 | 92,266 | ||||||||
5.050%, due 4/1/45 | 80,000 | 69,288 | ||||||||
Hilcorp Energy I LP / Hilcorp Finance Co. | ||||||||||
5.000%, due 12/1/24‡ | 75,000 | 74,250 | ||||||||
5.750%, due 10/1/25‡ | 85,000 | 85,213 | ||||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. | ||||||||||
5.250%, due 3/15/22‡ | 64,000 | 65,520 | ||||||||
Matador Resources Co. | ||||||||||
5.875%, due 9/15/26 | 176,000 | 176,880 | ||||||||
Murphy Oil Corp. | ||||||||||
5.750%, due 8/15/25 | 125,000 | 128,254 | ||||||||
NuStar Logistics LP | ||||||||||
5.625%, due 4/28/27 | 103,000 | 103,000 | ||||||||
Parsley Energy LLC / Parsley Finance Corp. | ||||||||||
5.250%, due 8/15/25‡ | 70,000 | 70,700 | ||||||||
5.375%, due 1/15/25‡ | 114,000 | 115,995 | ||||||||
5.625%, due 10/15/27‡ | 131,000 | 134,275 | ||||||||
Radian Group, Inc. | ||||||||||
4.500%, due 10/1/24 | 76,000 | 75,810 | ||||||||
Range Resources Corp. | ||||||||||
5.750%, due 6/1/21 | 100,000 | 102,500 | ||||||||
Springleaf Finance Corp. | ||||||||||
8.250%, due 12/15/20 | 199,000 | 214,174 | ||||||||
Sunoco LP / Sunoco Finance Corp. | ||||||||||
4.875%, due 1/15/23 | 135,000 | 137,025 | ||||||||
5.500%, due 2/15/26 | 180,000 | 183,150 | ||||||||
6.000%, due 4/15/27‡ | 120,000 | 124,500 | ||||||||
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. | ||||||||||
4.750%, due 10/1/23‡(a) | 100,000 | 101,500 | ||||||||
5.500%, due 9/15/24‡ | 160,000 | 165,200 | ||||||||
5.500%, due 1/15/28‡ | 98,000 | 99,838 | ||||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp. | ||||||||||
4.250%, due 11/15/23 | 75,000 | 75,188 | ||||||||
5.000%, due 1/15/28 | 150,000 | 147,188 | ||||||||
5.125%, due 2/1/25 | 50,000 | 51,125 | ||||||||
5.375%, due 2/1/27 | 42,000 | 42,788 | ||||||||
5.875%, due 4/15/26 | 200,000 | 210,250 | ||||||||
6.500%, due 7/15/27‡ | 175,000 | 187,250 | ||||||||
6.875%, due 1/15/29‡ | 159,000 | 171,720 | ||||||||
Transocean Guardian Ltd. | ||||||||||
5.875%, due 1/15/24‡ | 133,245 | 137,242 | ||||||||
WPX Energy, Inc. | ||||||||||
5.250%, due 9/15/24 | 125,000 | 128,750 | ||||||||
5.750%, due 6/1/26 | 93,000 | 95,790 | ||||||||
8.250%, due 8/1/23 | 90,000 | 102,150 | ||||||||
7,029,951 | ||||||||||
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Financials — 6.6% | ||||||||||
Ally Financial, Inc. | ||||||||||
3.750%, due 11/18/19 | $ | 22,000 | $ | 22,027 | ||||||
4.125%, due 3/30/20 | 145,000 | 145,725 | ||||||||
4.125%, due 2/13/22 | 165,000 | 167,062 | ||||||||
4.250%, due 4/15/21 | 103,000 | 104,416 | ||||||||
4.625%, due 3/30/25 | 115,000 | 118,594 | ||||||||
5.125%, due 9/30/24 | 158,000 | 166,887 | ||||||||
8.000%, due 11/1/31 | 350,000 | 448,875 | ||||||||
CIT Group, Inc. | ||||||||||
4.125%, due 3/9/21 | 91,000 | 92,365 | ||||||||
4.750%, due 2/16/24 | 101,000 | 104,283 | ||||||||
5.000%, due 8/15/22 | 188,000 | 196,225 | ||||||||
5.250%, due 3/7/25 | 102,000 | 108,503 | ||||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | ||||||||||
6.375%, due 12/15/25 | 155,000 | 161,394 | ||||||||
6.750%, due 2/1/24 | 110,000 | 114,950 | ||||||||
MSCI, Inc. | ||||||||||
4.750%, due 8/1/26‡ | 127,000 | 130,016 | ||||||||
5.250%, due 11/15/24‡ | 180,000 | 185,850 | ||||||||
5.375%, due 5/15/27‡ | 43,000 | 45,311 | ||||||||
5.750%, due 8/15/25‡ | 160,000 | 167,600 | ||||||||
Navient Corp. | ||||||||||
5.000%, due 10/26/20 | 100,000 | 101,500 | ||||||||
5.500%, due 1/25/23 | 200,000 | 203,750 | ||||||||
5.875%, due 3/25/21 | 63,000 | 65,126 | ||||||||
6.500%, due 6/15/22 | 165,000 | 173,869 | ||||||||
6.625%, due 7/26/21 | 165,000 | 173,250 | ||||||||
7.250%, due 9/25/23 | 100,000 | 108,250 | ||||||||
8.000%, due 3/25/20 | 300,000 | 310,875 | ||||||||
Quicken Loans, Inc. | ||||||||||
5.750%, due 5/1/25‡ | 203,000 | 206,219 | ||||||||
Springleaf Finance Corp. | ||||||||||
5.625%, due 3/15/23 | 165,000 | 171,188 | ||||||||
6.125%, due 5/15/22 | 163,000 | 172,169 | ||||||||
6.125%, due 3/15/24 | 175,000 | 184,625 | ||||||||
4,350,904 | ||||||||||
Health Care — 12.1% | ||||||||||
Acadia Healthcare Co., Inc. | ||||||||||
5.625%, due 2/15/23 | 90,000 | 90,900 | ||||||||
Avantor, Inc. | ||||||||||
6.000%, due 10/1/24‡ | 247,000 | 257,497 | ||||||||
Bausch Health Cos., Inc. | ||||||||||
5.500%, due 11/1/25‡ | 332,000 | 341,130 | ||||||||
5.750%, due 8/15/27‡ | 68,000 | 70,720 | ||||||||
7.000%, due 3/15/24‡ | 367,000 | 386,726 | ||||||||
Centene Corp. | ||||||||||
4.750%, due 5/15/22 | 217,000 | 221,340 | ||||||||
4.750%, due 1/15/25 | 180,000 | 182,700 | ||||||||
5.375%, due 6/1/26‡ | 360,000 | 374,850 | ||||||||
5.625%, due 2/15/21 | 204,000 | 207,060 | ||||||||
6.125%, due 2/15/24 | 155,000 | 162,362 | ||||||||
DaVita, Inc. | ||||||||||
5.125%, due 7/15/24 | 314,000 | 314,000 | ||||||||
Elanco Animal Health, Inc. | ||||||||||
3.912%, due 8/27/21‡ | 87,000 | 88,535 | ||||||||
4.272%, due 8/28/23‡ | 127,000 | 131,822 | ||||||||
4.900%, due 8/28/28‡ | 128,000 | 134,021 |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF(continued)
April 30, 2019
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Health Care (continued) | ||||||||||
Encompass Health Corp. | ||||||||||
5.750%, due 11/1/24 | $ | 250,000 | $ | 253,125 | ||||||
HCA Healthcare, Inc. | ||||||||||
6.250%, due 2/15/21 | 136,000 | 142,630 | ||||||||
HCA, Inc. | ||||||||||
5.375%, due 2/1/25 | 348,000 | 366,270 | ||||||||
5.375%, due 9/1/26 | 141,000 | 148,050 | ||||||||
5.625%, due 9/1/28 | 252,000 | 268,380 | ||||||||
5.875%, due 5/1/23 | 243,000 | 260,314 | ||||||||
5.875%, due 2/15/26 | 208,000 | 223,600 | ||||||||
5.875%, due 2/1/29 | 175,000 | 188,562 | ||||||||
7.500%, due 2/15/22 | 330,000 | 363,000 | ||||||||
Hologic, Inc. | ||||||||||
4.375%, due 10/15/25‡ | 168,000 | 166,530 | ||||||||
IQVIA, Inc. | ||||||||||
4.875%, due 5/15/23‡ | 123,000 | 124,691 | ||||||||
5.000%, due 10/15/26‡ | 223,000 | 227,460 | ||||||||
MEDNAX, Inc. | ||||||||||
5.250%, due 12/1/23‡ | 151,000 | 153,643 | ||||||||
Molina Healthcare, Inc. | ||||||||||
5.375%, due 11/15/22 | 103,000 | 107,378 | ||||||||
Service Corp. International | ||||||||||
4.625%, due 12/15/27 | 100,000 | 100,750 | ||||||||
Teleflex, Inc. | ||||||||||
4.625%, due 11/15/27 | 100,000 | 99,625 | ||||||||
Tenet Healthcare Corp. | ||||||||||
4.375%, due 10/1/21 | 181,000 | 183,263 | ||||||||
4.625%, due 7/15/24 | 369,000 | 370,845 | ||||||||
5.125%, due 5/1/25 | 300,000 | 302,250 | ||||||||
6.000%, due 10/1/20 | 280,000 | 289,450 | ||||||||
6.250%, due 2/1/27‡ | 253,000 | 263,753 | ||||||||
WellCare Health Plans, Inc. | ||||||||||
5.250%, due 4/1/25 | 229,000 | 235,870 | ||||||||
5.375%, due 8/15/26‡ | 117,000 | 122,265 | ||||||||
7,925,367 | ||||||||||
Industrials — 9.0% | ||||||||||
ADT Security Corp. (The) | ||||||||||
3.500%, due 7/15/22 | 245,000 | 237,650 | ||||||||
6.250%, due 10/15/21 | 120,000 | 126,000 | ||||||||
AECOM | ||||||||||
5.125%, due 3/15/27 | 124,000 | 124,310 | ||||||||
5.875%, due 10/15/24 | 184,000 | 194,810 | ||||||||
Aramark Services, Inc. | ||||||||||
4.750%, due 6/1/26 | 83,000 | 84,245 | ||||||||
5.000%, due 4/1/25‡ | 89,000 | 91,447 | ||||||||
5.000%, due 2/1/28‡ | 202,000 | 204,525 | ||||||||
5.125%, due 1/15/24 | 173,000 | 178,622 | ||||||||
Colfax Corp. | ||||||||||
6.000%, due 2/15/24‡ | 126,000 | 130,410 | ||||||||
Iron Mountain, Inc. | ||||||||||
4.375%, due 6/1/21‡ | 56,000 | 56,420 | ||||||||
4.875%, due 9/15/27‡ | 195,000 | 189,150 | ||||||||
5.250%, due 3/15/28‡ | 144,000 | 141,660 | ||||||||
Lennar Corp. | ||||||||||
4.125%, due 1/15/22 | 105,000 | 106,050 | ||||||||
4.500%, due 4/30/24 | 108,000 | 110,025 | ||||||||
4.750%, due 4/1/21 | 77,000 | 78,444 | ||||||||
4.750%, due 5/30/25 | 94,000 | 96,585 | ||||||||
4.750%, due 11/29/27 | 175,000 | 178,719 | ||||||||
5.875%, due 11/15/24 | 76,000 | 81,510 | ||||||||
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Industrials (continued) | ||||||||||
Prime Security Services Borrower LLC / Prime Finance, Inc. | ||||||||||
5.250%, due 4/15/24‡ | $ | 150,000 | $ | 150,375 | ||||||
PulteGroup, Inc. | ||||||||||
4.250%, due 3/1/21 | 73,000 | 73,912 | ||||||||
5.000%, due 1/15/27 | 125,000 | 126,875 | ||||||||
5.500%, due 3/1/26 | 147,000 | 155,085 | ||||||||
Sabre GLBL, Inc. | ||||||||||
5.250%, due 11/15/23‡ | 75,000 | 76,500 | ||||||||
5.375%, due 4/15/23‡ | 128,000 | 130,560 | ||||||||
Standard Industries, Inc. | ||||||||||
4.750%, due 1/15/28‡ | 226,000 | 216,112 | ||||||||
5.000%, due 2/15/27‡ | 100,000 | 98,375 | ||||||||
5.375%, due 11/15/24‡ | 147,000 | 149,940 | ||||||||
5.500%, due 2/15/23‡ | 78,000 | 79,365 | ||||||||
6.000%, due 10/15/25‡ | 198,000 | 206,415 | ||||||||
Toll Brothers Finance Corp. | ||||||||||
4.875%, due 3/15/27 | 75,000 | 75,094 | ||||||||
Transdigm, Inc. | ||||||||||
6.250%, due 3/15/26‡ | 720,000 | 747,900 | ||||||||
United Rentals North America, Inc. | ||||||||||
4.625%, due 10/15/25 | 172,000 | 170,280 | ||||||||
4.875%, due 1/15/28 | 318,000 | 316,013 | ||||||||
5.500%, due 7/15/25 | 143,000 | 148,005 | ||||||||
5.500%, due 5/15/27 | 139,000 | 143,170 | ||||||||
5.875%, due 9/15/26 | 135,000 | 141,075 | ||||||||
6.500%, due 12/15/26 | 250,000 | 267,188 | ||||||||
5,882,821 | ||||||||||
Information Technology — 6.5% | ||||||||||
CDK Global, Inc. | ||||||||||
4.875%, due 6/1/27 | 109,000 | 110,090 | ||||||||
5.000%, due 10/15/24 | 95,000 | 98,087 | ||||||||
5.875%, due 6/15/26 | 75,000 | 79,125 | ||||||||
CDW LLC / CDW Finance Corp. | ||||||||||
5.000%, due 9/1/23 | 102,000 | 104,040 | ||||||||
5.000%, due 9/1/25 | 125,000 | 128,125 | ||||||||
5.500%, due 12/1/24 | 85,000 | 89,887 | ||||||||
CommScope, Inc. | ||||||||||
5.500%, due 3/1/24‡ | 187,000 | 195,181 | ||||||||
5.500%, due 6/15/24‡ | 100,000 | 100,750 | ||||||||
6.000%, due 3/1/26‡ | 318,000 | 336,682 | ||||||||
EMC Corp. | ||||||||||
2.650%, due 6/1/20 | 373,000 | 370,203 | ||||||||
3.375%, due 6/1/23(a) | 153,000 | 149,366 | ||||||||
First Data Corp. | ||||||||||
5.000%, due 1/15/24‡ | 350,000 | 358,750 | ||||||||
Match Group, Inc. | ||||||||||
5.000%, due 12/15/27‡ | 76,000 | 76,380 | ||||||||
Pitney Bowes, Inc. | ||||||||||
3.875%, due 10/1/21 | 73,000 | 72,179 | ||||||||
Qorvo, Inc. | ||||||||||
5.500%, due 7/15/26‡ | 175,000 | 183,094 | ||||||||
Sensata Technologies BV | ||||||||||
5.000%, due 10/1/25‡ | 103,000 | 105,446 | ||||||||
Sensata Technologies UK Financing Co. PLC | ||||||||||
6.250%, due 2/15/26‡ | 132,000 | 140,250 | ||||||||
SS&C Technologies, Inc. | ||||||||||
5.500%, due 9/30/27‡ | 375,000 | 384,375 | ||||||||
Symantec Corp. | ||||||||||
5.000%, due 4/15/25‡ | 218,000 | 221,961 |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF(continued)
April 30, 2019
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Information Technology (continued) | ||||||||||
VeriSign, Inc. | ||||||||||
4.750%, due 7/15/27 | $ | 131,000 | $ | 133,293 | ||||||
5.250%, due 4/1/25 | 70,000 | 74,288 | ||||||||
Western Digital Corp. | ||||||||||
4.750%, due 2/15/26(a) | 419,000 | 403,811 | ||||||||
Xerox Corp. | ||||||||||
4.125%, due 3/15/23 | 193,000 | 192,585 | ||||||||
4.500%, due 5/15/21 | 173,000 | 175,193 | ||||||||
4,283,141 | ||||||||||
Materials — 8.7% | ||||||||||
Alcoa Nederland Holding BV | ||||||||||
6.125%, due 5/15/28‡ | 100,000 | 103,750 | ||||||||
6.750%, due 9/30/24‡ | 64,000 | 67,680 | ||||||||
7.000%, due 9/30/26‡ | 140,000 | 150,850 | ||||||||
Arconic, Inc. | ||||||||||
5.125%, due 10/1/24 | 255,000 | 262,331 | ||||||||
5.400%, due 4/15/21 | 219,000 | 224,749 | ||||||||
6.150%, due 8/15/20 | 159,000 | 164,172 | ||||||||
Ashland LLC | ||||||||||
4.750%, due 8/15/22 | 182,000 | 186,550 | ||||||||
Ball Corp. | ||||||||||
4.000%, due 11/15/23 | 211,000 | 212,582 | ||||||||
4.375%, due 12/15/20 | 193,000 | 196,136 | ||||||||
4.875%, due 3/15/26 | 120,000 | 124,200 | ||||||||
5.250%, due 7/1/25 | 152,000 | 161,120 | ||||||||
Berry Global, Inc. | ||||||||||
4.500%, due 2/15/26‡(a) | 100,000 | 96,875 | ||||||||
5.125%, due 7/15/23 | 130,000 | 131,950 | ||||||||
5.500%, due 5/15/22 | 75,000 | 75,937 | ||||||||
Blue Cube Spinco LLC | ||||||||||
9.750%, due 10/15/23 | 185,000 | 206,506 | ||||||||
10.000%, due 10/15/25 | 68,000 | 77,520 | ||||||||
Chemours Co. (The) | ||||||||||
5.375%, due 5/15/27 | 125,000 | 125,781 | ||||||||
7.000%, due 5/15/25 | 170,000 | 179,350 | ||||||||
Crown Americas LLC / Crown Americas Capital Corp. IV | ||||||||||
4.500%, due 1/15/23 | 150,000 | 153,187 | ||||||||
Crown Americas LLC / Crown Americas Capital Corp. VI | ||||||||||
4.750%, due 2/1/26 | 175,000 | 177,625 | ||||||||
Freeport-McMoRan, Inc. | ||||||||||
3.550%, due 3/1/22 | 377,000 | 373,230 | ||||||||
3.875%, due 3/15/23 | 322,000 | 318,780 | ||||||||
4.000%, due 11/14/21 | 77,000 | 77,770 | ||||||||
4.550%, due 11/14/24 | 132,000 | 131,175 | ||||||||
5.400%, due 11/14/34 | 135,000 | 126,900 | ||||||||
6.875%, due 2/15/23 | 200,000 | 211,000 | ||||||||
Novelis Corp. | ||||||||||
5.875%, due 9/30/26‡ | 275,000 | 279,469 | ||||||||
6.250%, due 8/15/24‡ | 200,000 | 208,500 | ||||||||
Olin Corp. | ||||||||||
5.000%, due 2/1/30 | 94,000 | 92,943 | ||||||||
5.125%, due 9/15/27 | 59,000 | 60,032 | ||||||||
Owens-Brockway Glass Container, Inc. | ||||||||||
5.000%, due 1/15/22‡ | 102,000 | 104,423 | ||||||||
5.875%, due 8/15/23‡ | 110,000 | 115,088 | ||||||||
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Materials (continued) | ||||||||||
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu | ||||||||||
5.125%, due 7/15/23‡ | $ | 269,000 | $ | 272,363 | ||||||
Sealed Air Corp. | ||||||||||
4.875%, due 12/1/22‡(a) | 111,000 | 114,608 | ||||||||
5.125%, due 12/1/24‡ | 37,000 | 38,434 | ||||||||
Steel Dynamics, Inc. | ||||||||||
5.500%, due 10/1/24 | 40,000 | 41,300 | ||||||||
WR Grace & Co.-Conn. | ||||||||||
5.125%, due 10/1/21‡ | 94,000 | 97,290 | ||||||||
5,742,156 | ||||||||||
Media — 11.6% | ||||||||||
AMC Networks, Inc. | ||||||||||
4.750%, due 8/1/25 | 132,000 | 131,340 | ||||||||
5.000%, due 4/1/24 | 192,000 | 194,160 | ||||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | ||||||||||
4.000%, due 3/1/23‡ | 75,000 | 75,094 | ||||||||
5.000%, due 2/1/28‡ | 335,000 | 334,162 | ||||||||
5.125%, due 5/1/23‡ | 145,000 | 148,625 | ||||||||
5.125%, due 5/1/27‡ | 403,000 | 409,045 | ||||||||
5.375%, due 5/1/25‡ | 50,000 | 51,750 | ||||||||
5.500%, due 5/1/26‡ | 225,000 | 232,312 | ||||||||
5.750%, due 2/15/26‡ | 269,000 | 281,105 | ||||||||
5.875%, due 4/1/24‡ | 255,000 | 265,837 | ||||||||
5.875%, due 5/1/27‡ | 127,000 | 132,239 | ||||||||
CSC Holdings LLC | ||||||||||
5.250%, due 6/1/24 | 70,000 | 71,487 | ||||||||
5.375%, due 7/15/23‡ | 272,000 | 277,766 | ||||||||
5.375%, due 2/1/28‡ | 178,000 | 181,115 | ||||||||
5.500%, due 5/15/26‡ | 275,000 | 282,906 | ||||||||
5.500%, due 4/15/27‡ | 183,000 | 188,261 | ||||||||
6.500%, due 2/1/29‡ | 325,000 | 348,969 | ||||||||
6.625%, due 10/15/25‡ | 119,000 | 126,437 | ||||||||
6.750%, due 11/15/21 | 83,000 | 88,810 | ||||||||
10.875%, due 10/15/25‡ | 350,000 | 402,500 | ||||||||
DISH DBS Corp. | ||||||||||
5.125%, due 5/1/20 | 210,000 | 211,050 | ||||||||
Gray Television, Inc. | ||||||||||
5.125%, due 10/15/24‡ | 100,000 | 101,500 | ||||||||
5.875%, due 7/15/26‡ | 108,000 | 111,240 | ||||||||
7.000%, due 5/15/27‡ | 150,000 | 162,000 | ||||||||
Lamar Media Corp. | ||||||||||
5.375%, due 1/15/24 | 94,000 | 96,115 | ||||||||
Lions Gate Capital Holdings LLC | ||||||||||
5.875%, due 11/1/24‡ | 90,000 | 91,800 | ||||||||
6.375%, due 2/1/24‡ | 76,000 | 79,610 | ||||||||
Live Nation Entertainment, Inc. | ||||||||||
4.875%, due 11/1/24‡ | 107,000 | 108,872 | ||||||||
Netflix, Inc. | ||||||||||
4.375%, due 11/15/26(a) | 158,000 | 156,420 | ||||||||
4.875%, due 4/15/28 | 320,000 | 317,200 | ||||||||
5.500%, due 2/15/22 | 153,000 | 161,033 | ||||||||
5.875%, due 2/15/25 | 96,000 | 103,560 | ||||||||
5.875%, due 11/15/28 | 350,000 | 368,813 | ||||||||
6.375%, due 5/15/29‡ | 143,000 | 156,228 | ||||||||
Nexstar Broadcasting, Inc. | ||||||||||
5.625%, due 8/1/24‡ | 133,000 | 134,995 | ||||||||
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF(continued)
April 30, 2019
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Media (continued) | ||||||||||
Nielsen Co. Luxembourg SARL (The) | ||||||||||
5.000%, due 2/1/25‡(a) | $ | 76,000 | $ | 74,860 | ||||||
Sinclair Television Group, Inc. | ||||||||||
5.625%, due 8/1/24‡ | 93,000 | 93,698 | ||||||||
Sirius XM Radio, Inc. | ||||||||||
3.875%, due 8/1/22‡ | 200,000 | 199,750 | ||||||||
5.000%, due 8/1/27‡ | 280,000 | 281,750 | ||||||||
5.375%, due 4/15/25‡ | 185,000 | 190,088 | ||||||||
5.375%, due 7/15/26‡ | 162,000 | 166,658 | ||||||||
7,591,160 | ||||||||||
Real Estate — 1.0% | ||||||||||
Howard Hughes Corp. (The) | ||||||||||
5.375%, due 3/15/25‡ | 210,000 | 211,575 | ||||||||
Realogy Group LLC / Realogy Co-Issuer Corp. | ||||||||||
5.250%, due 12/1/21‡ | 101,000 | 101,884 | ||||||||
Starwood Property Trust, Inc. | ||||||||||
3.625%, due 2/1/21 | 85,000 | 84,575 | ||||||||
4.750%, due 3/15/25 | 100,000 | 100,125 | ||||||||
5.000%, due 12/15/21 | 141,000 | 143,996 | ||||||||
642,155 | ||||||||||
Telecommunication Services — 8.3% | ||||||||||
CenturyLink, Inc. | ||||||||||
5.625%, due 4/1/20 | 175,000 | 178,062 | ||||||||
5.800%, due 3/15/22 | 350,000 | 359,187 | ||||||||
6.450%, due 6/15/21 | 139,000 | 144,734 | ||||||||
CyrusOne LP / CyrusOne Finance Corp. | ||||||||||
5.000%, due 3/15/24 | 104,000 | 106,340 | ||||||||
5.375%, due 3/15/27 | 101,000 | 104,787 | ||||||||
Equinix, Inc. | ||||||||||
5.375%, due 1/1/22 | 140,000 | 143,675 | ||||||||
5.375%, due 5/15/27 | 206,000 | 218,102 | ||||||||
5.750%, due 1/1/25 | 98,000 | 101,675 | ||||||||
5.875%, due 1/15/26 | 207,000 | 218,385 | ||||||||
Hughes Satellite Systems Corp. | ||||||||||
5.250%, due 8/1/26 | 126,000 | 126,788 | ||||||||
Level 3 Financing, Inc. | ||||||||||
5.125%, due 5/1/23 | 93,000 | 93,930 | ||||||||
5.250%, due 3/15/26 | 175,000 | 178,063 | ||||||||
5.375%, due 1/15/24 | 120,000 | 121,800 | ||||||||
5.375%, due 5/1/25 | 168,000 | 170,940 | ||||||||
5.625%, due 2/1/23 | 79,000 | 79,790 | ||||||||
SBA Communications Corp. | ||||||||||
4.000%, due 10/1/22 | 120,000 | 120,600 | ||||||||
4.875%, due 7/15/22 | 150,000 | 151,875 | ||||||||
4.875%, due 9/1/24 | 210,000 | 213,150 | ||||||||
Sprint Capital Corp. | ||||||||||
6.900%, due 5/1/19 | 24,000 | 24,000 | ||||||||
Sprint Communications, Inc. | ||||||||||
7.000%, due 3/1/20‡ | 214,000 | 219,618 | ||||||||
7.000%, due 8/15/20 | 218,000 | 226,175 | ||||||||
Sprint Corp. | ||||||||||
7.250%, due 9/15/21 | 401,000 | 419,546 | ||||||||
Principal Amount | Value | |||||||||
Corporate Bonds (continued) | ||||||||||
Telecommunication Services (continued) | ||||||||||
T-Mobile USA, Inc. | ||||||||||
4.000%, due 4/15/22 | $ | 63,000 | $ | 63,788 | ||||||
4.500%, due 2/1/26 | 133,000 | 133,665 | ||||||||
4.750%, due 2/1/28 | 277,000 | 278,731 | ||||||||
5.125%, due 4/15/25 | 100,000 | 102,750 | ||||||||
5.375%, due 4/15/27 | 112,000 | 117,600 | ||||||||
6.000%, due 4/15/24 | 191,000 | 199,356 | ||||||||
6.500%, due 1/15/26 | 385,000 | 411,469 | ||||||||
ViaSat, Inc. | ||||||||||
5.625%, due 4/15/27‡ | 125,000 | 128,125 | ||||||||
Zayo Group LLC / Zayo Capital, Inc. | ||||||||||
5.750%, due 1/15/27‡ | 301,000 | 305,139 | ||||||||
5,461,845 | ||||||||||
Transportation — 0.1% | ||||||||||
American Airlines Group, Inc. | ||||||||||
4.625%, due 3/1/20‡ | 90,000 | 90,453 | ||||||||
Utilities — 3.6% | ||||||||||
AES Corp. | ||||||||||
4.000%, due 3/15/21 | 100,000 | 101,000 | ||||||||
4.500%, due 3/15/23 | 100,000 | 101,375 | ||||||||
5.125%, due 9/1/27 | 100,000 | 104,125 | ||||||||
5.500%, due 4/15/25 | 56,000 | 57,960 | ||||||||
6.000%, due 5/15/26 | 136,000 | 143,820 | ||||||||
Calpine Corp. | ||||||||||
5.250%, due 6/1/26‡ | 199,000 | 199,497 | ||||||||
Clearway Energy Operating LLC | ||||||||||
5.375%, due 8/15/24 | 84,000 | 85,260 | ||||||||
5.750%, due 10/15/25‡ | 125,000 | 127,500 | ||||||||
NextEra Energy Operating Partners LP | ||||||||||
4.250%, due 9/15/24‡ | 94,000 | 93,765 | ||||||||
4.500%, due 9/15/27‡ | 100,000 | 98,250 | ||||||||
NRG Energy, Inc. | ||||||||||
5.750%, due 1/15/28(a) | 184,000 | 194,580 | ||||||||
6.625%, due 1/15/27 | 186,000 | 199,252 | ||||||||
7.250%, due 5/15/26 | 200,000 | 218,000 | ||||||||
TerraForm Power Operating LLC | ||||||||||
4.250%, due 1/31/23‡ | 93,000 | 91,838 | ||||||||
5.000%, due 1/31/28‡ | 115,000 | 113,563 | ||||||||
Vistra Operations Co. LLC | ||||||||||
5.500%, due 9/1/26‡ | 200,000 | 206,000 | ||||||||
5.625%, due 2/15/27‡ | 211,000 | 217,066 | ||||||||
2,352,851 | ||||||||||
Total Corporate Bonds | ||||||||||
(Cost $59,359,847) | 59,885,268 | |||||||||
Foreign Bonds — 6.9% | ||||||||||
Consumer Discretionary — 2.0% | ||||||||||
1011778 BC ULC / New Red Finance, Inc., (Canada) | ||||||||||
4.250%, due 5/15/24‡ | 305,000 | 301,188 | ||||||||
5.000%, due 10/15/25‡ | 493,000 | 489,303 | ||||||||
Fiat Chrysler Automobiles NV, (United Kingdom) | ||||||||||
4.500%, due 4/15/20 | 255,000 | 256,912 | ||||||||
5.250%, due 4/15/23 | 271,000 | 282,517 | ||||||||
1,329,920 |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF(continued)
April 30, 2019
Principal Amount | Value | |||||||||
Foreign Bonds (continued) | ||||||||||
Industrials — 0.3% | ||||||||||
Bombardier, Inc., (Canada) | ||||||||||
8.750%, due 12/1/21‡ | $ | 168,000 | $ | 185,640 | ||||||
Information Technology — 1.0% | ||||||||||
Nokia OYJ, (Finland) | ||||||||||
3.375%, due 6/12/22 | 75,000 | 74,531 | ||||||||
4.375%, due 6/12/27 | 97,000 | 97,060 | ||||||||
5.375%, due 5/15/19 | 3,000 | 3,002 | ||||||||
Open Text Corp., (Canada) | ||||||||||
5.625%, due 1/15/23‡ | 123,000 | 125,921 | ||||||||
5.875%, due 6/1/26‡ | 167,000 | 175,141 | ||||||||
Telefonaktiebolaget LM Ericsson, (Sweden) | ||||||||||
4.125%, due 5/15/22 | 181,000 | 183,737 | ||||||||
659,392 | ||||||||||
Materials — 1.7% | ||||||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc., (Ireland) | ||||||||||
4.250%, due 9/15/22‡ | 200,000 | 200,750 | ||||||||
4.625%, due 5/15/23‡ | 147,000 | 148,102 | ||||||||
FMG Resources August 2006 Pty Ltd., (Australia) | ||||||||||
4.750%, due 5/15/22‡ | 159,000 | 160,987 | ||||||||
5.125%, due 3/15/23‡(a) | 125,000 | 127,813 | ||||||||
5.125%, due 5/15/24‡ | 118,000 | 119,180 | ||||||||
NOVA Chemicals Corp., (Canada) | ||||||||||
4.875%, due 6/1/24‡ | 206,000 | 203,487 | ||||||||
5.250%, due 6/1/27‡ | 180,000 | 176,850 | ||||||||
1,137,169 | ||||||||||
Media — 1.7% | ||||||||||
Telenet Finance Luxembourg Notes SARL, (Belgium) | ||||||||||
5.500%, due 3/1/28‡ | 200,000 | 197,250 | ||||||||
Videotron Ltd., (Canada) | ||||||||||
5.125%, due 4/15/27‡ | 101,000 | 102,894 | ||||||||
Virgin Media Finance PLC, (United Kingdom) | ||||||||||
6.000%, due 10/15/24‡ | 100,000 | 103,250 | ||||||||
Virgin Media Secured Finance PLC, (United Kingdom) | ||||||||||
5.250%, due 1/15/26‡ | 174,000 | 176,175 | ||||||||
5.500%, due 8/15/26‡ | 145,000 | 148,444 | ||||||||
Ziggo BV, (Netherlands) | ||||||||||
5.500%, due 1/15/27‡ | 375,000 | 374,531 | ||||||||
1,102,544 | ||||||||||
Telecommunication Services — 0.2% | ||||||||||
Intelsat Jackson Holdings SA, (Luxembourg) | ||||||||||
9.500%, due 9/30/22‡ | 76,000 | 87,780 | ||||||||
Total Foreign Bonds | ||||||||||
(Cost $4,474,583) | 4,502,445 |
Shares | Value | |||||||||
Short-Term Investment — 0.5% | ||||||||||
Money Market Fund — 0.5% | ||||||||||
BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 2.28%(b) | ||||||||||
(Cost $331,001) | 331,001 | $ | 331,001 | |||||||
Investment of Cash Collateral For Securities Loaned — 2.6% | ||||||||||
Money Market Fund — 2.6% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(b) | ||||||||||
(Cost $1,729,250) | 1,729,250 | 1,729,250 | ||||||||
Total Investments — 101.2% | ||||||||||
(Cost $65,894,681) | 66,447,964 | |||||||||
Other Assets and Liabilities, Net — (1.2)% | (822,220 | ) | ||||||||
Net Assets — 100.0% | $ | 65,625,744 |
‡ | 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 $1,793,191; total market value of collateral held by the Fund was $1,860,014. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $130,764. |
(b) | Reflects the 1-day yield at April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ S&P High Yield Low Volatility Bond ETF(continued)
April 30, 2019
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(c) | ||||||||||||||||||
Corporate Bonds | $ | — | $ | 59,885,268 | $ | — | $ | 59,885,268 | ||||||||||
Foreign Bonds | — | 4,502,445 | — | 4,502,445 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 331,001 | — | — | 331,001 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 1,729,250 | — | — | 1,729,250 | ||||||||||||||
Total Investments in Securities | $ | 2,060,251 | $ | 64,387,713 | $ | — | $ | 66,447,964 |
(c) | For a complete listing of investments and their industries, see the Schedules of Investments. |
See notes to financial statements.
Shares | Value | |||||||||
Common Stocks — 98.2% | ||||||||||
Australia — 3.5% | ||||||||||
AGL Energy Ltd. | 5,557 | $ | 86,948 | |||||||
Amcor Ltd. | 7,963 | 89,844 | ||||||||
Australia & New Zealand Banking Group Ltd. | 4,674 | 89,482 | ||||||||
BHP Group Ltd. | 15,042 | 395,965 | ||||||||
BlueScope Steel Ltd. | 6,842 | 64,772 | ||||||||
Brambles Ltd. | 9,331 | 79,140 | ||||||||
Caltex Australia Ltd. | 4,241 | 81,223 | ||||||||
CIMIC Group Ltd. | 3,040 | 108,248 | ||||||||
Commonwealth Bank of Australia | 1,988 | 104,272 | ||||||||
CSL Ltd. | 613 | 85,675 | ||||||||
Downer EDI Ltd. | 17,664 | 96,230 | ||||||||
Metcash Ltd. | 43,079 | 87,022 | ||||||||
National Australia Bank Ltd. | 4,436 | 79,150 | ||||||||
Origin Energy Ltd. | 15,162 | 78,651 | ||||||||
Qantas Airways Ltd. | 26,659 | 105,266 | ||||||||
Ramsay Health Care Ltd. | 2,737 | 125,835 | ||||||||
Rio Tinto PLC | 6,591 | 383,649 | ||||||||
Sonic Healthcare Ltd. | 5,255 | 94,872 | ||||||||
Telstra Corp. Ltd. | 62,450 | 148,569 | ||||||||
Wesfarmers Ltd. | 9,075 | 230,012 | ||||||||
Westpac Banking Corp. | 4,701 | 91,025 | ||||||||
Woolworths Group Ltd. | 11,187 | 250,786 | ||||||||
Total Australia | 2,956,636 | |||||||||
Austria — 0.3% | ||||||||||
OMV AG | 2,388 | 127,790 | ||||||||
voestalpine AG | 3,031 | 97,252 | ||||||||
Total Austria | 225,042 | |||||||||
Belgium — 0.9% | ||||||||||
Anheuser-Busch InBev SA/NV | 6,135 | 544,952 | ||||||||
Colruyt SA | 1,131 | 81,450 | ||||||||
Solvay SA | 865 | 103,872 | ||||||||
Umicore SA(a) | 2,055 | 79,455 | ||||||||
Total Belgium | 809,729 | |||||||||
Canada — 5.7% | ||||||||||
Air Canada* | 5,653 | 135,147 | ||||||||
Alimentation Couche-Tard, Inc., Class B | 6,826 | 400,822 | ||||||||
Bank of Montreal | 985 | 77,485 | ||||||||
Bank of Nova Scotia (The) | 1,667 | 91,430 | ||||||||
Barrick Gold Corp. | 4,675 | 59,185 | ||||||||
BCE, Inc. | 3,465 | 154,395 | ||||||||
Bombardier, Inc., Class B* | 49,790 | 84,760 | ||||||||
Brookfield Asset Management, Inc., Class A | 3,072 | 147,503 | ||||||||
Canadian Imperial Bank of Commerce | 746 | 62,560 | ||||||||
Canadian National Railway Co. | 1,068 | 98,797 | ||||||||
Canadian Natural Resources Ltd. | 2,889 | 86,378 | ||||||||
Canadian Tire Corp. Ltd., Class A | 613 | 67,197 | ||||||||
Cenovus Energy, Inc. | 9,119 | 90,024 | ||||||||
CGI, Inc.* | 1,732 | 124,158 | ||||||||
Empire Co. Ltd., Class A | 5,484 | 121,486 | ||||||||
Enbridge, Inc. | 10,415 | 383,168 | ||||||||
George Weston Ltd. | 2,867 | 213,192 | ||||||||
Great-West Lifeco, Inc. | 4,027 | 100,795 | ||||||||
Husky Energy, Inc. | 6,066 | 65,566 | ||||||||
Imperial Oil Ltd. | 3,694 | 106,877 | ||||||||
Loblaw Cos. Ltd. | 3,810 | 185,883 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Canada (continued) | ||||||||||
Magna International, Inc. | 3,948 | $ | 218,854 | |||||||
Manulife Financial Corp. | 6,519 | 119,554 | ||||||||
Metro, Inc. | 2,162 | 77,949 | ||||||||
Onex Corp. | 1,113 | 64,296 | ||||||||
Parkland Fuel Corp. | 2,437 | 74,802 | ||||||||
Power Corp. of Canada | 4,878 | 111,470 | ||||||||
Power Financial Corp. | 4,547 | 107,929 | ||||||||
Restaurant Brands International, Inc. | 1,265 | 82,227 | ||||||||
Rogers Communications, Inc., Class B | 1,760 | 88,249 | ||||||||
Royal Bank of Canada | 1,731 | 137,391 | ||||||||
Saputo, Inc. | 2,164 | 73,694 | ||||||||
SNC-Lavalin Group, Inc. | 2,104 | 52,240 | ||||||||
Sun Life Financial, Inc. | 1,880 | 77,788 | ||||||||
Suncor Energy, Inc. | 4,095 | 134,491 | ||||||||
Teck Resources Ltd., Class B | 3,906 | 91,988 | ||||||||
TELUS Corp. | 2,411 | 88,414 | ||||||||
Thomson Reuters Corp. | 1,640 | 100,933 | ||||||||
Toronto-Dominion Bank (The) | 1,980 | 112,483 | ||||||||
TransCanada Corp. | 2,618 | 124,439 | ||||||||
WSP Global, Inc. | 1,184 | 63,671 | ||||||||
Total Canada | 4,859,670 | |||||||||
Denmark — 0.8% | ||||||||||
Carlsberg A/S, Class B | 625 | 80,667 | ||||||||
Danske Bank A/S | 3,217 | 57,008 | ||||||||
DSV A/S | 1,184 | 109,306 | ||||||||
ISS A/S | 3,686 | 114,536 | ||||||||
Novo Nordisk A/S, Class B | 3,641 | 177,906 | ||||||||
Orsted A/S‡ | 1,111 | 84,989 | ||||||||
Vestas Wind Systems A/S | 1,086 | 98,140 | ||||||||
Total Denmark | 722,552 | |||||||||
Finland — 0.8% | ||||||||||
Kesko OYJ, Class B | 1,236 | 64,134 | ||||||||
Kone OYJ, Class B | 1,356 | 74,251 | ||||||||
Neste OYJ | 3,192 | 105,315 | ||||||||
Nokia OYJ | 32,914 | 172,593 | ||||||||
Outokumpu OYJ(a) | 14,097 | 53,699 | ||||||||
Stora Enso OYJ, Class R | 5,762 | 71,452 | ||||||||
UPM-Kymmene OYJ | 2,856 | 80,370 | ||||||||
Wartsila OYJ Abp | 3,795 | 60,479 | ||||||||
Total Finland | 682,293 | |||||||||
France —13.4% | ||||||||||
Air France-KLM* | 20,767 | 239,718 | ||||||||
Air Liquide SA | 1,500 | 199,289 | ||||||||
Airbus SE | 4,300 | 587,341 | ||||||||
Arkema SA | 760 | 77,899 | ||||||||
Atos SE | 1,760 | 181,030 | ||||||||
AXA SA(a) | 12,988 | 345,624 | ||||||||
BNP Paribas SA | 5,185 | 275,724 | ||||||||
Bollore SA | 41,778 | 198,332 | ||||||||
Bouygues SA(a) | 7,832 | 294,392 | ||||||||
Bureau Veritas SA | 2,998 | 75,866 | ||||||||
Capgemini SE | 1,294 | 156,765 | ||||||||
Carrefour SA | 24,480 | 476,542 | ||||||||
Casino Guichard Perrachon SA(a) | 5,070 | 207,391 | ||||||||
Cie de Saint-Gobain | 6,481 | 264,673 | ||||||||
Cie Generale des Etablissements Michelin | 1,111 | 143,373 | ||||||||
Cie Plastic Omnium SA | 2,720 | 82,274 |
See notes to financial statements.
Schedules of Investments — IQ 500 International ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
France (continued) | ||||||||||
CNP Assurances(a) | 6,650 | $ | 156,804 | |||||||
Credit Agricole SA | 12,456 | 170,724 | ||||||||
Danone SA | 2,597 | 209,786 | ||||||||
Eiffage SA | 1,544 | 161,097 | ||||||||
Electricite de France SA | 23,818 | 342,736 | ||||||||
Elior Group SA‡ | 5,930 | 82,009 | ||||||||
Engie SA | 32,473 | 480,563 | ||||||||
EssilorLuxottica SA* | 556 | 67,607 | ||||||||
Faurecia SA | 2,371 | 120,317 | ||||||||
Kering SA | 269 | 158,874 | ||||||||
L’Oreal SA(a) | 985 | 270,563 | ||||||||
LVMH Moet Hennessy Louis Vuitton SE | 1,358 | 531,223 | ||||||||
Natixis SA | 15,699 | 92,333 | ||||||||
Orange SA | 20,388 | 319,084 | ||||||||
Pernod Ricard SA | 502 | 87,399 | ||||||||
Peugeot SA | 15,129 | 396,071 | ||||||||
Publicis Groupe SA | 2,054 | 121,725 | ||||||||
Renault SA | 3,644 | 248,379 | ||||||||
Rexel SA | 9,409 | 126,325 | ||||||||
Safran SA | 1,384 | 201,481 | ||||||||
Sanofi(a) | 3,983 | 345,896 | ||||||||
Schneider Electric SE | 2,300 | 194,507 | ||||||||
Societe Generale SA | 3,986 | 126,062 | ||||||||
Sodexo SA | 2,017 | 231,131 | ||||||||
SPIE SA | 4,422 | 85,239 | ||||||||
Suez | 8,461 | 118,765 | ||||||||
Teleperformance* | 368 | 70,647 | ||||||||
Thales SA | 1,069 | 127,530 | ||||||||
TOTAL SA | 16,213 | 900,229 | ||||||||
Valeo SA | 4,076 | 147,865 | ||||||||
Veolia Environnement SA | 8,305 | 196,014 | ||||||||
Vinci SA | 5,995 | 604,808 | ||||||||
Vivendi SA(a) | 5,504 | 159,575 | ||||||||
Total France | 11,459,601 | |||||||||
Germany — 11.1% | ||||||||||
adidas AG | 646 | 165,862 | ||||||||
Allianz SE | 1,497 | 360,368 | ||||||||
Aurubis AG | 1,427 | 69,439 | ||||||||
BASF SE | 10,269 | 834,249 | ||||||||
Bayer AG | 4,346 | 289,019 | ||||||||
Bayerische Motoren Werke AG | 5,898 | 501,691 | ||||||||
Beiersdorf AG | 582 | 63,555 | ||||||||
Brenntag AG | 2,172 | 116,986 | ||||||||
CECONOMY AG* | 26,248 | 175,909 | ||||||||
Continental AG | 1,875 | 309,650 | ||||||||
Covestro AG‡ | 2,171 | 118,611 | ||||||||
Daimler AG* | 11,485 | 750,909 | ||||||||
Deutsche Bank AG | 11,501 | 94,980 | ||||||||
Deutsche Lufthansa AG | 12,109 | 292,039 | ||||||||
Deutsche Post AG* | 13,217 | 457,700 | ||||||||
Deutsche Telekom AG | 31,161 | 520,829 | ||||||||
E.ON SE | 23,169 | 248,438 | ||||||||
Evonik Industries AG | 4,154 | 123,647 | ||||||||
Fresenius Medical Care AG & Co. KGaA | 3,134 | 263,280 | ||||||||
Fresenius SE & Co. KGaA | 4,343 | 246,183 | ||||||||
Hannover Rueck SE | 507 | 76,365 | ||||||||
HeidelbergCement AG | 2,062 | 166,384 | ||||||||
Infineon Technologies AG | 4,208 | 99,152 | ||||||||
LANXESS AG | 1,313 | 75,781 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Germany (continued) | ||||||||||
Merck KGaA | 1,421 | $ | 151,098 | |||||||
METRO AG | 17,587 | 297,617 | ||||||||
Muenchener Rueckversicherungs-Gesellschaft AG* | 748 | 186,937 | ||||||||
ProSiebenSat.1 Media SE | 2,845 | 44,749 | ||||||||
RWE AG* | 11,857 | 302,571 | ||||||||
Salzgitter AG | 1,854 | 61,024 | ||||||||
SAP SE | 2,860 | 367,252 | ||||||||
Siemens AG | 4,421 | 528,856 | ||||||||
Siemens Healthineers AG‡ | 4,945 | 210,702 | ||||||||
Talanx AG | 3,003 | 119,878 | ||||||||
Telefonica Deutschland Holding AG | 16,014 | 51,974 | ||||||||
thyssenkrupp AG(a) | 13,133 | 184,492 | ||||||||
TUI AG | 11,803 | 131,374 | ||||||||
Uniper SE | 13,711 | 415,034 | ||||||||
United Internet AG | 1,857 | 74,359 | ||||||||
Total Germany | 9,548,943 | |||||||||
Hong Kong — 1.7% | ||||||||||
AIA Group Ltd. | 13,407 | 136,626 | ||||||||
Cathay Pacific Airways Ltd. | 78,314 | 131,764 | ||||||||
CK Hutchison Holdings Ltd. | 18,285 | 192,047 | ||||||||
CLP Holdings Ltd. | 7,541 | 85,499 | ||||||||
Dairy Farm International Holdings Ltd. | 7,735 | 60,565 | ||||||||
Haier Electronics Group Co. Ltd.* | 28,046 | 80,255 | ||||||||
Jardine Matheson Holdings Ltd. | 3,555 | 233,919 | ||||||||
Li & Fung Ltd. | 480,851 | 79,678 | ||||||||
Nine Dragons Paper Holdings Ltd.* | 71,832 | 66,381 | ||||||||
Sun Art Retail Group Ltd. | 75,824 | 66,204 | ||||||||
WH Group Ltd.‡ | 183,698 | 217,757 | ||||||||
Yue Yuen Industrial Holdings Ltd. | 24,288 | 78,479 | ||||||||
Total Hong Kong | 1,429,174 | |||||||||
Ireland — 0.3% | ||||||||||
CRH PLC | 6,484 | 216,393 | ||||||||
Smurfit Kappa Group PLC | 2,313 | 67,695 | ||||||||
Total Ireland | 284,088 | |||||||||
Israel — 0.2% | ||||||||||
Teva Pharmaceutical Industries Ltd.* | 8,582 | 131,935 | ||||||||
Italy — 3.2% | ||||||||||
Assicurazioni Generali SpA | 13,823 | 268,002 | ||||||||
Atlantia SpA | 2,936 | 80,022 | ||||||||
Autogrill SpA | 7,185 | 69,773 | ||||||||
Enel SpA | 129,312 | 817,204 | ||||||||
Eni SpA | 25,989 | 443,238 | ||||||||
Intesa Sanpaolo SpA | 47,915 | 125,493 | ||||||||
Leonardo SpA | 9,487 | 109,457 | ||||||||
Poste Italiane SpA‡ | 31,514 | 335,872 | ||||||||
Saipem SpA* | 15,630 | 79,122 | ||||||||
Salini Impregilo SpA(a) | 29,332 | 61,143 | ||||||||
Saras SpA | 35,177 | 62,761 | ||||||||
Telecom Italia SpA* | 299,227 | 167,202 | ||||||||
UniCredit SpA | 6,845 | 94,586 | ||||||||
Total Italy | 2,713,875 | |||||||||
Japan(b) — 28.7% | ||||||||||
Aeon Co., Ltd. | 15,134 | 279,172 | ||||||||
AGC, Inc. | 2,725 | 92,607 | ||||||||
Aisin Seiki Co., Ltd. | 4,045 | 156,352 | ||||||||
Ajinomoto Co., Inc. | 4,322 | 69,559 | ||||||||
Alfresa Holdings Corp. | 6,408 | 178,072 |
See notes to financial statements.
Schedules of Investments — IQ 500 International ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | �� | |||||||||
Japan(b) (continued) | ||||||||||
Alps Alpine Co., Ltd. | 2,996 | $ | 63,135 | |||||||
ANA Holdings, Inc. | 3,973 | 138,694 | ||||||||
Asahi Group Holdings Ltd. | 2,747 | 119,105 | ||||||||
Asahi Kasei Corp. | 10,803 | 110,867 | ||||||||
Astellas Pharma, Inc. | 6,635 | 89,896 | ||||||||
Bridgestone Corp. | 3,659 | 144,750 | ||||||||
Brother Industries Ltd. | 3,408 | 66,798 | ||||||||
Canon, Inc. | 8,848 | 245,400 | ||||||||
Central Japan Railway Co. | 678 | 145,462 | ||||||||
Chubu Electric Power Co., Inc. | 10,164 | 147,475 | ||||||||
Chugoku Electric Power Co., Inc. (The)(a) | 5,871 | 69,951 | ||||||||
Coca-Cola Bottlers Japan Holdings, Inc. | 2,351 | 57,775 | ||||||||
Cosmo Energy Holdings Co., Ltd. | 3,111 | 64,161 | ||||||||
Dai Nippon Printing Co., Ltd. | 5,233 | 123,713 | ||||||||
Dai-ichi Life Holdings, Inc. | 7,775 | 111,346 | ||||||||
Daiichi Sankyo Co., Ltd. | 1,867 | 91,879 | ||||||||
Daikin Industries Ltd. | 968 | 122,548 | ||||||||
Denso Corp. | 5,049 | 220,003 | ||||||||
Dentsu, Inc. | 1,979 | 80,582 | ||||||||
East Japan Railway Co. | 2,535 | 238,193 | ||||||||
FamilyMart UNY Holdings Co., Ltd. | 2,464 | 65,662 | ||||||||
Fast Retailing Co., Ltd. | 219 | 126,356 | ||||||||
Fuji Media Holdings, Inc. | 4,183 | 56,111 | ||||||||
FUJIFILM Holdings Corp. | 2,069 | 96,303 | ||||||||
Fujitsu Ltd. | 4,475 | 326,861 | ||||||||
Hakuhodo DY Holdings, Inc. | 6,676 | 112,271 | ||||||||
Hankyu Hanshin Holdings, Inc. | 1,916 | 71,393 | ||||||||
Hanwa Co. Ltd. | 3,749 | 107,547 | ||||||||
Haseko Corp. | 6,108 | 73,543 | ||||||||
Hino Motors Ltd. | 8,897 | 83,718 | ||||||||
HIS Co., Ltd. | 2,371 | 75,361 | ||||||||
Hitachi Ltd. | 13,198 | 437,149 | ||||||||
Honda Motor Co., Ltd. | 16,176 | 450,386 | ||||||||
Idemitsu Kosan Co., Ltd. | 3,725 | 120,571 | ||||||||
IHI Corp. | 1,920 | 45,459 | ||||||||
Isetan Mitsukoshi Holdings Ltd. | 5,950 | 56,575 | ||||||||
Isuzu Motors Ltd. | 6,258 | 89,649 | ||||||||
ITOCHU Corp. | 31,784 | 570,756 | ||||||||
Japan Airlines Co., Ltd. | 2,968 | 99,373 | ||||||||
Japan Post Holdings Co., Ltd. | 21,901 | 244,426 | ||||||||
Japan Post Insurance Co., Ltd. | 4,901 | 98,790 | ||||||||
Japan Tobacco, Inc. | 5,036 | 116,478 | ||||||||
JFE Holdings, Inc. | 9,832 | 168,170 | ||||||||
JGC Corp. | 3,079 | 43,901 | ||||||||
JTEKT Corp. | 5,495 | 70,504 | ||||||||
JXTG Holdings, Inc. | 63,247 | 307,050 | ||||||||
Kajima Corp. | 11,123 | 164,286 | ||||||||
Kansai Electric Power Co., Inc. (The) | 11,006 | 132,961 | ||||||||
Kao Corp. | 1,357 | 104,259 | ||||||||
Kawasaki Heavy Industries Ltd. | 3,036 | 70,492 | ||||||||
Kawasaki Kisen Kaisha Ltd.*(a) | 5,440 | 78,639 | ||||||||
KDDI Corp. | 14,137 | 322,470 | ||||||||
Kintetsu Group Holdings Co., Ltd. | 2,167 | 96,019 | ||||||||
Kirin Holdings Co., Ltd. | 4,279 | 96,799 | ||||||||
Kobe Steel Ltd. | 12,869 | 98,099 | ||||||||
Komatsu Ltd. | 5,028 | 128,753 | ||||||||
Konica Minolta, Inc. | 7,448 | 74,497 | ||||||||
Kubota Corp. | 5,584 | 84,380 | ||||||||
Kyocera Corp. | 2,108 | 136,086 | ||||||||
Kyushu Electric Power Co., Inc. | 9,104 | 88,036 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Japan(b) (continued) | ||||||||||
LIXIL Group Corp. | 4,704 | $ | 61,115 | |||||||
Marubeni Corp. | 53,666 | 383,119 | ||||||||
Mazda Motor Corp. | 11,007 | 130,009 | ||||||||
Medipal Holdings Corp. | 9,187 | 205,805 | ||||||||
MEIJI Holdings Co., Ltd. | 1,111 | 87,284 | ||||||||
Mitsubishi Chemical Holdings Corp. | 30,021 | 212,701 | ||||||||
Mitsubishi Corp. | 26,744 | 733,824 | ||||||||
Mitsubishi Electric Corp. | 22,663 | 321,911 | ||||||||
Mitsubishi Heavy Industries Ltd. | 4,384 | 181,894 | ||||||||
Mitsubishi Materials Corp. | 2,785 | 72,116 | ||||||||
Mitsubishi Motors Corp. | 13,960 | 78,088 | ||||||||
Mitsubishi UFJ Financial Group, Inc. | 23,580 | 116,423 | ||||||||
Mitsui & Co., Ltd. | 20,668 | 332,915 | ||||||||
Mitsui Chemicals, Inc. | 4,002 | 97,665 | ||||||||
Mitsui OSK Lines Ltd. | 4,233 | 107,179 | ||||||||
Mizuho Financial Group, Inc. | 53,669 | 83,606 | ||||||||
MS&AD Insurance Group Holdings, Inc. | 3,735 | 115,295 | ||||||||
Murata Manufacturing Co., Ltd. | 2,397 | 128,270 | ||||||||
NEC Corp. | 6,140 | 206,458 | ||||||||
NH Foods Ltd. | 2,042 | 81,955 | ||||||||
Nidec Corp. | 628 | 89,005 | ||||||||
Nippon Express Co., Ltd. | 2,103 | 115,181 | ||||||||
Nippon Paper Industries Co., Ltd. | 4,041 | 79,967 | ||||||||
Nippon Steel Corp. | 15,632 | 277,972 | ||||||||
Nippon Telegraph & Telephone Corp. | 18,118 | 750,911 | ||||||||
Nippon Yusen K.K. | 7,809 | 132,937 | ||||||||
Nissan Motor Co., Ltd. | 41,864 | 335,777 | ||||||||
Nitto Denko Corp. | 1,047 | 56,310 | ||||||||
Nomura Holdings, Inc. | 12,413 | 46,565 | ||||||||
Nomura Research Institute Ltd. | 1,442 | 70,304 | ||||||||
NTT Data Corp. | 13,216 | 153,549 | ||||||||
NTT DOCOMO, Inc. | 12,685 | 274,543 | ||||||||
Obayashi Corp. | 16,206 | 158,459 | ||||||||
Oji Holdings Corp. | 13,971 | 83,544 | ||||||||
Olympus Corp. | 7,811 | 87,245 | ||||||||
Omron Corp. | 1,808 | 96,589 | ||||||||
Oriental Land Co., Ltd. | 680 | 74,914 | ||||||||
ORIX Corp. | 4,703 | 66,359 | ||||||||
Osaka Gas Co., Ltd. | 4,132 | 76,240 | ||||||||
Otsuka Corp. | 2,391 | 93,815 | ||||||||
Otsuka Holdings Co., Ltd. | 1,942 | 69,206 | ||||||||
PALTAC Corp. | 1,629 | 89,366 | ||||||||
Panasonic Corp. | 23,472 | 215,173 | ||||||||
Persol Holdings Co., Ltd. | 4,105 | 76,811 | ||||||||
Rakuten, Inc. | 14,970 | 165,997 | ||||||||
Recruit Holdings Co., Ltd. | 7,350 | 219,692 | ||||||||
Renesas Electronics Corp.* | 13,258 | 70,590 | ||||||||
Ricoh Co., Ltd. | 11,802 | 119,000 | ||||||||
Secom Co., Ltd. | 1,183 | 99,186 | ||||||||
Seibu Holdings, Inc. | 3,500 | 56,786 | ||||||||
Seiko Epson Corp. | 4,793 | 76,559 | ||||||||
Sekisui Chemical Co., Ltd. | 5,095 | 81,474 | ||||||||
Sekisui House Ltd. | 4,343 | 69,878 | ||||||||
Seven & i Holdings Co., Ltd. | 8,412 | 291,465 | ||||||||
SG Holdings Co., Ltd. | 2,974 | 79,440 | ||||||||
Sharp Corp.* | 5,792 | 64,278 | ||||||||
Shimizu Corp. | 15,010 | 127,897 | ||||||||
Shin-Etsu Chemical Co., Ltd. | 1,385 | 129,702 | ||||||||
Shiseido Co., Ltd. | 1,077 | 84,303 | ||||||||
Showa Denko K.K. | 1,561 | 52,769 | ||||||||
See notes to financial statements.
Schedules of Investments — IQ 500 International ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Japan(b) (continued) | ||||||||||
SoftBank Group Corp. | 6,708 | $ | 695,946 | |||||||
Sojitz Corp. | 36,187 | 124,441 | ||||||||
Sompo Holdings, Inc. | 2,084 | 77,859 | ||||||||
Sony Corp. | 5,830 | 272,826 | ||||||||
Subaru Corp. | 4,553 | 111,214 | ||||||||
Sumitomo Chemical Co., Ltd. | 26,059 | 129,154 | ||||||||
Sumitomo Corp. | 21,807 | 311,221 | ||||||||
Sumitomo Electric Industries Ltd. | 9,492 | 125,665 | ||||||||
Sumitomo Metal Mining Co., Ltd. | 2,114 | 66,035 | ||||||||
Sumitomo Mitsui Financial Group, Inc. | 3,641 | 131,452 | ||||||||
Suntory Beverage & Food Ltd. | 1,825 | 80,292 | ||||||||
Suzuken Co., Ltd. | 2,727 | 156,703 | ||||||||
Suzuki Motor Corp. | 2,791 | 126,926 | ||||||||
Taiheiyo Cement Corp. | 2,147 | 68,820 | ||||||||
Taisei Corp. | 3,075 | 134,596 | ||||||||
Takeda Pharmaceutical Co., Ltd. | 3,065 | 113,161 | ||||||||
TDK Corp. | 1,167 | 101,533 | ||||||||
Teijin Ltd. | 3,560 | 60,956 | ||||||||
Tohoku Electric Power Co., Inc. | 8,910 | 101,760 | ||||||||
Tokio Marine Holdings, Inc. | 2,560 | 128,764 | ||||||||
Tokyo Electric Power Co., Holdings, Inc.* | 54,549 | 307,580 | ||||||||
Tokyo Electron Ltd. | 741 | 117,396 | ||||||||
Tokyo Gas Co., Ltd. | 3,875 | 98,358 | ||||||||
Tokyu Corp. | 4,808 | 78,223 | ||||||||
Toppan Printing Co., Ltd. | 8,549 | 138,242 | ||||||||
Toray Industries, Inc. | 18,880 | 128,494 | ||||||||
Toshiba Corp. | 4,724 | 156,936 | ||||||||
Tosoh Corp. | 4,833 | 77,458 | ||||||||
Toyota Boshoku Corp. | 3,732 | 55,088 | ||||||||
Toyota Industries Corp. | 1,829 | 103,459 | ||||||||
Toyota Motor Corp. | 18,005 | 1,116,270 | ||||||||
Toyota Tsusho Corp. | 12,615 | 416,819 | ||||||||
West Japan Railway Co. | 1,631 | 120,991 | ||||||||
Yahoo Japan Corp. | 30,575 | 81,259 | ||||||||
Yamada Denki Co., Ltd. | 17,205 | 81,410 | ||||||||
Yamaha Motor Co., Ltd. | 2,968 | 60,972 | ||||||||
Yamato Holdings Co., Ltd. | 3,567 | 77,265 | ||||||||
Yamazaki Baking Co., Ltd. | 3,562 | 52,834 | ||||||||
Zensho Holdings Co., Ltd. | 3,473 | 78,082 | ||||||||
Total Japan | 24,581,484 | |||||||||
Luxembourg — 0.6% | ||||||||||
ArcelorMittal | 19,423 | 420,720 | ||||||||
RTL Group SA(a) | 1,420 | 79,729 | ||||||||
Total Luxembourg | 500,449 | |||||||||
Macau — 0.1% | ||||||||||
Galaxy Entertainment Group Ltd. | 16,463 | 123,073 | ||||||||
Netherlands — 4.0% | ||||||||||
Aegon NV | 15,050 | 78,531 | ||||||||
Akzo Nobel NV | 871 | 73,893 | ||||||||
Altice Europe NV* | 89,714 | 283,530 | ||||||||
ASML Holding NV(a) | 618 | 128,504 | ||||||||
EXOR NV | 5,959 | 396,421 | ||||||||
Heineken Holding NV | 1,948 | 197,682 | ||||||||
Heineken NV | 1,878 | 202,554 | ||||||||
ING Groep NV(a) | 5,896 | 75,037 | ||||||||
Koninklijke Ahold Delhaize NV | 15,904 | 382,495 | ||||||||
Koninklijke DSM NV | 951 | 108,550 | ||||||||
Koninklijke Philips NV | 4,204 | 178,869 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Netherlands (continued) | ||||||||||
NN Group NV | 1,629 | $ | 70,871 | |||||||
Randstad NV | 4,437 | 253,202 | ||||||||
Royal Dutch Shell PLC, Class B | 28,455 | 914,215 | ||||||||
Wolters Kluwer NV | 1,140 | 79,441 | ||||||||
Total Netherlands | 3,423,795 | |||||||||
Norway — 0.8% | ||||||||||
Equinor ASA | 17,258 | 384,077 | ||||||||
Norsk Hydro ASA | 24,822 | 106,091 | ||||||||
Telenor ASA | 6,031 | 120,794 | ||||||||
Yara International ASA | 2,059 | 92,646 | ||||||||
Total Norway | 703,608 | |||||||||
Portugal — 0.4% | ||||||||||
EDP — Energias de Portugal SA* | 32,741 | 123,985 | ||||||||
Galp Energia SGPS SA | 5,765 | 96,719 | ||||||||
Jeronimo Martins SGPS SA(a) | 8,255 | 134,330 | ||||||||
Total Portugal | 355,034 | |||||||||
Singapore — 0.8% | ||||||||||
Jardine Cycle & Carriage Ltd. | 5,015 | 130,865 | ||||||||
Oversea-Chinese Banking Corp. Ltd. | 8,861 | 78,767 | ||||||||
Singapore Airlines Ltd. | 13,272 | 94,382 | ||||||||
Singapore Telecommunications Ltd. | 42,073 | 97,981 | ||||||||
Wilmar International Ltd. | 111,099 | 297,091 | ||||||||
Total Singapore | 699,086 | |||||||||
Spain — 3.1% | ||||||||||
Acciona SA | 925 | 107,086 | ||||||||
ACS Actividades de Construccion y Servicios SA | 7,592 | 348,247 | ||||||||
Amadeus IT Group SA | 956 | 75,983 | ||||||||
Banco Bilbao Vizcaya Argentaria SA | 15,397 | 93,490 | ||||||||
Banco Santander SA(a) | 55,238 | 279,286 | ||||||||
Endesa SA | 6,556 | 163,184 | ||||||||
Ferrovial SA | 4,991 | �� | 122,831 | |||||||
Iberdrola SA | 34,689 | 314,818 | ||||||||
Industria de Diseno Textil SA(a) | 6,956 | 210,247 | ||||||||
Mapfre SA | 25,723 | 77,114 | ||||||||
Naturgy Energy Group SA | 5,406 | 153,401 | ||||||||
Repsol SA | 15,755 | 267,145 | ||||||||
Telefonica SA | 49,231 | 410,047 | ||||||||
Total Spain | 2,622,879 | |||||||||
Sweden — 1.9% | ||||||||||
Assa Abloy AB, B Shares | 3,094 | 65,936 | ||||||||
Atlas Copco AB, A Shares | 3,031 | 94,117 | ||||||||
Electrolux AB | 3,426 | 84,075 | ||||||||
Essity AB, B Shares | 3,701 | 109,705 | ||||||||
Hennes & Mauritz AB, B Shares | 8,563 | 149,142 | ||||||||
ICA Gruppen AB | 2,250 | 81,297 | ||||||||
NCC AB, B Shares | 4,298 | 70,979 | ||||||||
Sandvik AB(a) | 4,550 | 84,067 | ||||||||
Securitas AB, B Shares | 6,460 | 112,799 | ||||||||
Skanska AB, B Shares | 9,993 | 173,754 | ||||||||
SKF AB, B Shares | 3,972 | 73,429 | ||||||||
SSAB AB, A Shares(a) | 16,213 | 61,105 | ||||||||
Telefonaktiebolaget LM Ericsson, B Shares | 18,608 | 183,990 | ||||||||
Telia Co. AB | 17,540 | 74,612 | ||||||||
Volvo AB, B Shares | 15,023 | 240,196 | ||||||||
Total Sweden | 1,659,203 | |||||||||
See notes to financial statements.
Schedules of Investments — IQ 500 International ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Switzerland — 5.5% | ||||||||||
ABB Ltd.* | 8,949 | $ | 184,161 | |||||||
Adecco Group AG | 4,801 | 275,716 | ||||||||
Cie Financiere Richemont SA | 891 | 65,142 | ||||||||
Credit Suisse Group AG* | 6,930 | 92,491 | ||||||||
Glencore PLC* | 174,806 | 693,571 | ||||||||
Kuehne + Nagel International AG | 1,047 | 152,118 | ||||||||
LafargeHolcim Ltd.* | 3,499 | 179,860 | ||||||||
Nestle SA | 10,508 | 1,011,099 | ||||||||
Novartis AG | 5,296 | 432,463 | ||||||||
Roche Holding AG | 2,927 | 771,533 | ||||||||
Schindler Holding AG — Participating Certificate | 319 | 68,809 | ||||||||
Sika AG | 494 | 75,627 | ||||||||
STMicroelectronics NV | 5,584 | 102,475 | ||||||||
Swiss Life Holding AG* | 182 | 85,570 | ||||||||
Swiss Re AG | 1,245 | 119,808 | ||||||||
Swisscom AG | 207 | 96,431 | ||||||||
UBS Group AG* | 8,469 | 113,571 | ||||||||
Zurich Insurance Group AG | 510 | 162,609 | ||||||||
Total Switzerland | 4,683,054 | |||||||||
United Kingdom — 10.2% | ||||||||||
Associated British Foods PLC | 4,023 | 134,209 | ||||||||
AstraZeneca PLC | 2,328 | 173,778 | ||||||||
Aviva PLC | 24,850 | 139,140 | ||||||||
Babcock International Group PLC | 9,477 | 64,862 | ||||||||
BAE Systems PLC | 24,915 | 160,453 | ||||||||
Balfour Beatty PLC | 23,930 | 78,365 | ||||||||
Barclays PLC | 38,078 | 81,549 | ||||||||
BP PLC | 101,195 | 737,449 | ||||||||
British American Tobacco PLC | 4,853 | 189,166 | ||||||||
BT Group PLC | 77,862 | 232,497 | ||||||||
Bunzl PLC | 3,331 | 100,267 | ||||||||
Capita PLC* | 42,240 | 70,182 | ||||||||
Centrica PLC | 109,751 | 152,019 | ||||||||
Compass Group PLC | 13,138 | 298,530 | ||||||||
DCC PLC | 1,110 | 99,094 | ||||||||
Diageo PLC | 3,159 | 133,163 | ||||||||
Dixons Carphone PLC | 39,002 | 73,776 | ||||||||
DS Smith PLC | 13,072 | 60,837 | ||||||||
easyJet PLC | 4,108 | 62,310 | ||||||||
Experian PLC | 2,672 | 77,505 | ||||||||
Fiat Chrysler Automobiles NV | 25,989 | 400,015 | ||||||||
G4S PLC | 36,955 | 104,157 | ||||||||
GlaxoSmithKline PLC | 17,703 | 363,117 | ||||||||
Hays PLC | 40,049 | 79,150 | ||||||||
HSBC Holdings PLC | 21,511 | 187,074 | ||||||||
Imperial Brands PLC | 3,888 | 123,471 | ||||||||
Inchcape PLC | 11,414 | 91,437 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
United Kingdom (continued) | ||||||||||
International Consolidated Airlines Group SA | 26,807 | $ | 188,853 | |||||||
ITV PLC | 33,126 | 59,012 | ||||||||
J Sainsbury PLC | 46,166 | 133,910 | ||||||||
John Wood Group PLC(a) | 8,392 | 51,474 | ||||||||
Johnson Matthey PLC | 3,216 | 139,905 | ||||||||
Kingfisher PLC | 29,508 | 101,594 | ||||||||
Legal & General Group PLC | 28,507 | 103,388 | ||||||||
Linde PLC | 865 | 155,493 | ||||||||
Lloyds Banking Group PLC | 197,310 | 160,945 | ||||||||
Marks & Spencer Group PLC | 23,227 | 86,570 | ||||||||
Mondi PLC | 3,118 | 68,309 | ||||||||
National Grid PLC | 12,602 | 137,360 | ||||||||
Pearson PLC | 6,111 | 66,139 | ||||||||
Petrofac Ltd. | 8,685 | 50,191 | ||||||||
Prudential PLC | 9,147 | 206,890 | ||||||||
Reckitt Benckiser Group PLC | 1,338 | 108,093 | ||||||||
RELX PLC | 5,368 | 123,095 | ||||||||
Rolls-Royce Holdings PLC* | 14,330 | 170,859 | ||||||||
Rolls-Royce Holdings PLC —Entitlement*(c)(d) | 1,017,430 | 1,326 | ||||||||
Royal Bank of Scotland Group PLC | 22,909 | 71,557 | ||||||||
Royal Mail PLC | 21,280 | 70,131 | ||||||||
SSE PLC | 16,277 | 242,857 | ||||||||
Standard Chartered PLC | 9,953 | 90,827 | ||||||||
Tesco PLC | 135,670 | 441,812 | ||||||||
Travis Perkins PLC | 5,914 | 107,744 | ||||||||
Unilever NV | 8,430 | 509,787 | ||||||||
Vodafone Group PLC | 168,481 | 311,889 | ||||||||
Wm Morrison Supermarkets PLC | 38,801 | 109,209 | ||||||||
WPP PLC | 17,209 | 214,564 | ||||||||
Total United Kingdom | 8,751,355 | |||||||||
United States — 0.2% | ||||||||||
Ferguson PLC | 2,561 | 181,622 | ||||||||
Total Common Stocks | ||||||||||
(Cost $78,873,364) | 84,108,180 | |||||||||
Preferred Stocks — 1.2% | ||||||||||
Germany — 1.2% | ||||||||||
Henkel AG & Co. KGaA, 2.05% | 1,439 | 145,529 | ||||||||
Schaeffler AG, 7.25% | 9,149 | 78,027 | ||||||||
Volkswagen AG, 2.54% | 4,649 | 807,780 | ||||||||
Total Germany | 1,031,336 | |||||||||
Total Preferred Stocks | ||||||||||
(Cost $989,541) | 1,031,336 |
See notes to financial statements.
Schedules of Investments — IQ 500 International ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Short-Term Investment — 0.0%(e) | ||||||||||
Money Market Fund — 0.0%(e) | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 2.32%(f) | ||||||||||
(Cost $30,797) | 30,797 | $ | 30,797 | |||||||
Investment of Cash Collateral For Securities Loaned — 3.8% | ||||||||||
Money Market Fund — 3.8% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(f) | ||||||||||
(Cost $3,265,837) | 3,265,837 | 3,265,837 | ||||||||
Total Investments — 103.2% | ||||||||||
(Cost $83,159,539) | 88,436,150 | |||||||||
Other Assets and Liabilities, Net — (3.2)% | (2,761,572 | ) | ||||||||
Net Assets — 100.0% | $ | 85,674,578 |
‡ | 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 $3,158,681; total market value of collateral held by the Fund was $3,327,727. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $61,890. |
(b) | These securities are deemed illiquid due to the extended closure of the Japanese market. |
(c) | 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, 2019, the value of this security was $1,326. |
(d) | Security is 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. |
(e) | Less than 0.05%. |
(f) | Reflects the 1-day yield at April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ 500 International ETF(continued)
April 30, 2019
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(g) | ||||||||||||||||||
Common Stocks | ||||||||||||||||||
Australia | $ | 2,956,636 | $ | — | $ | — | $ | 2,956,636 | ||||||||||
Austria | 225,042 | — | — | 225,042 | ||||||||||||||
Belgium | 809,729 | — | — | 809,729 | ||||||||||||||
Canada | 4,859,670 | — | — | 4,859,670 | ||||||||||||||
Denmark | 722,552 | — | — | 722,552 | ||||||||||||||
Finland | 682,293 | — | — | 682,293 | ||||||||||||||
France | 11,459,601 | — | — | 11,459,601 | ||||||||||||||
Germany | 9,548,943 | — | — | 9,548,943 | ||||||||||||||
Hong Kong | 1,429,174 | — | — | 1,429,174 | ||||||||||||||
Ireland | 284,088 | — | — | 284,088 | ||||||||||||||
Israel | 131,935 | — | — | 131,935 | ||||||||||||||
Italy | 2,713,875 | — | — | 2,713,875 | ||||||||||||||
Japan | — | 24,581,484 | — | 24,581,484 | ||||||||||||||
Luxembourg | 500,449 | — | — | 500,449 | ||||||||||||||
Macau | 123,073 | — | — | 123,073 | ||||||||||||||
Netherlands | 3,423,795 | — | — | 3,423,795 | ||||||||||||||
Norway | 703,608 | — | — | 703,608 | ||||||||||||||
Portugal | 355,034 | — | — | 355,034 | ||||||||||||||
Singapore | 699,086 | — | — | 699,086 | ||||||||||||||
Spain | 2,622,879 | — | — | 2,622,879 | ||||||||||||||
Sweden | 1,659,203 | — | — | 1,659,203 | ||||||||||||||
Switzerland | 4,683,054 | — | — | 4,683,054 | ||||||||||||||
United Kingdom | 8,750,029 | — | 1,326 | (h) | 8,751,355 | |||||||||||||
United States | 181,622 | — | — | 181,622 | ||||||||||||||
Total Common Stocks | 59,525,370 | 24,581,484 | 1,326 | 84,108,180 | ||||||||||||||
Preferred Stocks | ||||||||||||||||||
Germany | 1,031,336 | — | — | 1,031,336 | ||||||||||||||
Total Preferred Stocks | 1,031,336 | — | — | 1,031,336 | ||||||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 30,797 | — | — | 30,797 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 3,265,837 | — | — | 3,265,837 | ||||||||||||||
Total Investments in Securities | $ | 63,853,340 | $ | 24,581,484 | $ | 1,326 | $ | 88,436,150 |
(g) | For a complete listing of investments and their countries, see the Schedules of Investments. |
(h) | The Level 3 security, valued at $1,326, 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 500 International ETF(continued)
April 30, 2019
Investments in Securities | Balance as of December 13, 2018 | 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, 2019 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2019(i) | ||||||||||||||||||||||||||||||
Common Stock | ||||||||||||||||||||||||||||||||||||||||
Rolls-Royce | ||||||||||||||||||||||||||||||||||||||||
Holdings PLC — Entitlement(j) | $ | — | $ | — | $ | — | $ | 13 | $ | 1,313 | $ | — | $ | — | $ | — | $ | 1,326 | $ | 13 |
Security Type | Fair Value | Valuation Technique | Unobservable Inputs | |||||||
Common Stock | $ | 1,326 | Peer Analysis | Contingent Payment Terms |
(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 50 Percent Hedged FTSE International ETF
April 30, 2019
Shares | Value | |||||||||
Common Stocks — 99.2% | ||||||||||
Australia — 7.3% | ||||||||||
AGL Energy Ltd. | 13,979 | $ | 218,724 | |||||||
Alumina Ltd. | 63,721 | 100,464 | ||||||||
Amcor Ltd. | 24,101 | 271,925 | ||||||||
AMP Ltd. | 65,666 | 104,917 | ||||||||
APA Group | 26,003 | 176,067 | ||||||||
Aristocrat Leisure Ltd. | 14,306 | 262,607 | ||||||||
ASX Ltd. | 5,864 | 307,490 | ||||||||
Aurizon Holdings Ltd. | 44,590 | 149,391 | ||||||||
Australia & New Zealand Banking Group Ltd. | 52,907 | 1,012,890 | ||||||||
Bendigo & Adelaide Bank Ltd. | 14,296 | 103,641 | ||||||||
BHP Group Ltd. | 55,612 | 1,463,930 | ||||||||
BHP Group PLC | 38,098 | 898,665 | ||||||||
BlueScope Steel Ltd. | 10,758 | 101,844 | ||||||||
Boral Ltd. | 32,059 | 109,439 | ||||||||
Brambles Ltd. | 32,115 | 272,380 | ||||||||
Caltex Australia Ltd. | 6,133 | 117,458 | ||||||||
Coca-Cola Amatil Ltd. | 17,124 | 106,064 | ||||||||
Coles Group Ltd.* | 21,136 | 187,594 | ||||||||
Commonwealth Bank of Australia | 32,903 | 1,725,792 | ||||||||
Computershare Ltd. | 13,864 | 173,988 | ||||||||
CSL Ltd. | 8,456 | 1,181,840 | ||||||||
Dexus | 26,846 | 236,195 | ||||||||
Fortescue Metals Group Ltd. | 29,738 | 149,657 | ||||||||
Goodman Group | 38,783 | 359,234 | ||||||||
GPT Group (The) | 46,493 | 187,509 | ||||||||
Incitec Pivot Ltd. | 43,502 | 103,186 | ||||||||
Insurance Australia Group Ltd. | 52,249 | 289,791 | ||||||||
Lendlease Group | 11,789 | 110,359 | ||||||||
Macquarie Group Ltd. | 6,232 | 590,847 | ||||||||
Medibank Pvt Ltd. | 68,591 | 138,074 | ||||||||
Mirvac Group | 96,105 | 191,431 | ||||||||
National Australia Bank Ltd. | 50,414 | 899,517 | ||||||||
Newcrest Mining Ltd. | 14,784 | 260,247 | ||||||||
Northern Star Resources Ltd. | 12,773 | 73,630 | ||||||||
Oil Search Ltd. | 30,126 | 164,969 | ||||||||
Orica Ltd. | 9,402 | 123,087 | ||||||||
Origin Energy Ltd. | 37,677 | 195,445 | ||||||||
QBE Insurance Group Ltd. | 26,928 | 245,066 | ||||||||
Ramsay Health Care Ltd. | 2,932 | 134,800 | ||||||||
Rio Tinto Ltd. | 6,896 | 462,902 | ||||||||
Rio Tinto PLC | 20,562 | 1,196,872 | ||||||||
Santos Ltd. | 38,533 | 195,003 | ||||||||
Scentre Group | 101,561 | 273,068 | ||||||||
SEEK Ltd. | 10,748 | 137,758 | ||||||||
Sonic Healthcare Ltd. | 11,107 | 200,523 | ||||||||
South32 Ltd. | 99,806 | 234,630 | ||||||||
Stockland | 57,409 | 152,336 | ||||||||
Suncorp Group Ltd. | 28,218 | 263,559 | ||||||||
Sydney Airport | 28,282 | 151,686 | ||||||||
Telstra Corp. Ltd. | 75,168 | 178,826 | ||||||||
Transurban Group | 53,417 | 505,311 | ||||||||
Treasury Wine Estates Ltd. | 16,676 | 201,883 | ||||||||
Vicinity Centres | 68,854 | 123,096 | ||||||||
Wesfarmers Ltd. | 21,255 | 538,722 | ||||||||
Westpac Banking Corp. | 62,745 | 1,214,926 | ||||||||
Woodside Petroleum Ltd. | 19,602 | 488,271 | ||||||||
Woolworths Group Ltd. | 26,264 | 588,777 | ||||||||
Total Australia | 20,608,303 | |||||||||
Austria — 0.2% | ||||||||||
ANDRITZ AG | 2,295 | 109,310 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Austria (continued) | ||||||||||
Erste Group Bank AG* | 6,775 | $ | 271,061 | |||||||
OMV AG | 4,084 | 218,549 | ||||||||
Verbund AG* | 1,377 | 68,241 | ||||||||
Total Austria | 667,161 | |||||||||
Belgium — 1.0% | ||||||||||
Ageas | 4,606 | 242,611 | ||||||||
Anheuser-Busch InBev SA/NV | 14,147 | 1,256,632 | ||||||||
Galapagos NV* | 1,044 | 119,400 | ||||||||
Groupe Bruxelles Lambert SA | 1,987 | 189,771 | ||||||||
KBC Group NV | 5,305 | 392,510 | ||||||||
Solvay SA | 1,614 | 193,814 | ||||||||
UCB SA | 2,621 | 207,730 | ||||||||
Umicore SA(a) | 4,974 | 192,315 | ||||||||
Total Belgium | 2,794,783 | |||||||||
China — 0.3% | ||||||||||
AAC Technologies Holdings, Inc. | 15,021 | 97,071 | ||||||||
BOC Hong Kong Holdings Ltd. | 75,757 | 338,934 | ||||||||
China Mengniu Dairy Co., Ltd.* | 57,742 | 213,439 | ||||||||
Lenovo Group Ltd. | 149,292 | 138,343 | ||||||||
Want Want China Holdings Ltd. | 150,749 | 119,517 | ||||||||
Total China | 907,304 | |||||||||
Denmark — 1.6% | ||||||||||
Ambu A/S, Class B | 3,246 | 93,044 | ||||||||
AP Moller — Maersk A/S, Class A | 118 | 143,655 | ||||||||
AP Moller — Maersk A/S, Class B | 128 | 166,628 | ||||||||
Carlsberg A/S, Class B | 2,227 | 287,432 | ||||||||
Chr Hansen Holding A/S | 2,171 | 221,283 | ||||||||
Coloplast A/S, Class B | 2,730 | 294,324 | ||||||||
Danske Bank A/S | 12,248 | 217,045 | ||||||||
Drilling Co. of 1972 A/S (The)* | 492 | 37,740 | ||||||||
DSV A/S | 3,675 | 339,274 | ||||||||
Genmab A/S* | 1,218 | 202,036 | ||||||||
GN Store Nord A/S | 2,470 | 126,324 | ||||||||
ISS A/S | 4,171 | 129,607 | ||||||||
Novo Nordisk A/S, Class B | 31,238 | 1,526,344 | ||||||||
Novozymes A/S, Class B | 4,344 | 202,279 | ||||||||
Orsted A/S‡ | 2,290 | 175,179 | ||||||||
Pandora A/S | 2,046 | 85,751 | ||||||||
Vestas Wind Systems A/S | 3,938 | 355,869 | ||||||||
Total Denmark | 4,603,814 | |||||||||
Finland — 0.9% | ||||||||||
Elisa OYJ | 3,109 | 131,809 | ||||||||
Fortum OYJ | 8,500 | 179,469 | ||||||||
Kone OYJ, Class B | 7,211 | 394,856 | ||||||||
Neste OYJ | 7,784 | 256,821 | ||||||||
Nokia OYJ | 107,584 | 564,144 | ||||||||
Nokian Renkaat OYJ | 3,198 | 106,875 | ||||||||
Sampo OYJ, Class A | 9,144 | 417,696 | ||||||||
Stora Enso OYJ, Class R | 12,685 | 157,301 | ||||||||
UPM-Kymmene OYJ | 10,794 | 303,752 | ||||||||
Wartsila OYJ Abp | 10,207 | 162,662 | ||||||||
Total Finland | 2,675,385 | |||||||||
France — 10.0% | ||||||||||
Accor SA | 4,630 | 194,893 | ||||||||
Adevinta ASA, Class A* | 3,648 | 36,710 | ||||||||
Aeroports de Paris | 524 | 106,644 | ||||||||
Air Liquide SA | 8,140 | 1,081,473 | ||||||||
Airbus SE | 10,385 | 1,418,497 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
France (continued) | ||||||||||
Alstom SA | 3,737 | $ | 164,172 | |||||||
Arkema SA | 1,790 | 183,474 | ||||||||
Atos SE | 2,040 | 209,830 | ||||||||
AXA SA(a) | 35,363 | 941,046 | ||||||||
BNP Paribas SA | 20,572 | 1,093,962 | ||||||||
Bouygues SA(a) | 4,295 | 161,442 | ||||||||
Bureau Veritas SA | 6,903 | 174,683 | ||||||||
Capgemini SE | 2,997 | 363,080 | ||||||||
Carrefour SA | 11,042 | 214,950 | ||||||||
Cie de Saint-Gobain | 9,657 | 394,376 | ||||||||
Cie Generale des Etablissements Michelin | 3,683 | 475,286 | ||||||||
Credit Agricole SA | 20,963 | 287,322 | ||||||||
Danone SA | 10,518 | 849,645 | ||||||||
Dassault Systemes SE | 2,781 | 439,606 | ||||||||
Edenred | 5,379 | 253,247 | ||||||||
Electricite de France SA | 7,773 | 111,852 | ||||||||
Engie SA | 31,012 | 458,942 | ||||||||
EssilorLuxottica SA* | 5,615 | 682,762 | ||||||||
Eutelsat Communications SA | 4,823 | 86,969 | ||||||||
Getlink SE | 10,580 | 170,148 | ||||||||
Hermes International | 643 | 451,967 | ||||||||
Ingenico Group SA | 1,400 | 117,925 | ||||||||
Ipsen SA | 872 | 101,732 | ||||||||
Kering SA | 1,403 | 828,625 | ||||||||
Klepierre SA | 4,362 | 154,819 | ||||||||
Legrand SA | 5,791 | 425,223 | ||||||||
L’Oreal SA(a) | 4,504 | 1,237,175 | ||||||||
LVMH Moet Hennessy Louis Vuitton SE | 4,652 | 1,819,772 | ||||||||
Orange SA | 35,349 | 553,232 | ||||||||
Orpea | 1,192 | 145,210 | ||||||||
Pernod Ricard SA | 3,872 | 674,118 | ||||||||
Peugeot SA | 10,177 | 266,429 | ||||||||
Publicis Groupe SA | 4,221 | 250,148 | ||||||||
Renault SA | 3,637 | 247,901 | ||||||||
Rexel SA | 8,222 | 110,388 | ||||||||
Rubis SCA | 2,299 | 125,733 | ||||||||
Safran SA | 6,300 | 917,148 | ||||||||
Sanofi(a) | 20,289 | 1,761,959 | ||||||||
Schneider Electric SE | 10,041 | 849,148 | ||||||||
SCOR SE(a) | 4,036 | 164,462 | ||||||||
SEB SA | 539 | 98,582 | ||||||||
Societe Generale SA | 13,971 | 441,849 | ||||||||
Sodexo SA | 1,497 | 171,544 | ||||||||
Teleperformance* | 1,228 | 235,746 | ||||||||
Thales SA | 2,142 | 255,537 | ||||||||
TOTAL SA | 46,472 | 2,580,363 | ||||||||
Ubisoft Entertainment SA* | 1,625 | 154,870 | ||||||||
Unibail-Rodamco-Westfield | 2,659 | 456,676 | ||||||||
Valeo SA | 4,946 | 179,426 | ||||||||
Veolia Environnement SA | 9,615 | 226,933 | ||||||||
Vinci SA(a) | 9,010 | 908,978 | ||||||||
Vivendi SA | 18,778 | 544,422 | ||||||||
Total France | 28,013,051 | |||||||||
Germany — 7.7% | ||||||||||
adidas AG | 3,669 | 942,025 | ||||||||
Allianz SE | 7,937 | 1,910,646 | ||||||||
BASF SE | 17,541 | 1,425,024 | ||||||||
Bayer AG | 17,643 | 1,173,301 | ||||||||
Bayerische Motoren Werke AG | 6,486 | 551,707 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Germany (continued) | ||||||||||
Beiersdorf AG | 2,285 | $ | 249,524 | |||||||
Brenntag AG | 3,428 | 184,635 | ||||||||
Commerzbank AG* | 21,081 | 189,287 | ||||||||
Continental AG | 2,052 | 338,881 | ||||||||
Covestro AG‡ | 3,134 | 171,223 | ||||||||
Daimler AG* | 15,994 | 1,045,714 | ||||||||
Delivery Hero SE‡* | 2,364 | 108,861 | ||||||||
Deutsche Bank AG | 39,156 | 323,368 | ||||||||
Deutsche Boerse AG | 3,574 | 476,240 | ||||||||
Deutsche Lufthansa AG | 4,692 | 113,159 | ||||||||
Deutsche Post AG* | 17,941 | 621,291 | ||||||||
Deutsche Telekom AG | 59,073 | 987,354 | ||||||||
Deutsche Wohnen SE | 7,716 | 346,498 | ||||||||
E.ON SE | 41,397 | 443,894 | ||||||||
Fresenius Medical Care AG & Co. KGaA | 4,039 | 339,307 | ||||||||
Fresenius SE & Co. KGaA | 8,040 | 455,748 | ||||||||
GEA Group AG | 3,943 | 110,120 | ||||||||
Hannover Rueck SE | 1,281 | 192,947 | ||||||||
HeidelbergCement AG | 2,967 | 239,409 | ||||||||
Henkel AG & Co. KGaA | 1,706 | 162,417 | ||||||||
HUGO BOSS AG | 1,620 | 112,854 | ||||||||
Infineon Technologies AG | 23,308 | 549,200 | ||||||||
K+S AG | 4,473 | 90,633 | ||||||||
KION Group AG | 1,509 | 103,227 | ||||||||
LANXESS AG | 2,311 | 133,382 | ||||||||
LEG Immobilien AG | 1,183 | 137,551 | ||||||||
Merck KGaA | 2,502 | 266,043 | ||||||||
MTU Aero Engines AG | 1,223 | 287,418 | ||||||||
Muenchener Rueckversicherungs-Gesellschaft AG* | 2,664 | 665,777 | ||||||||
OSRAM Licht AG | 2,318 | 79,206 | ||||||||
ProSiebenSat.1 Media SE | 5,040 | 79,274 | ||||||||
Rheinmetall AG | 862 | 98,826 | ||||||||
RWE AG* | 11,433 | 291,751 | ||||||||
SAP SE | 18,015 | 2,313,304 | ||||||||
Scout24 AG‡(a) | 2,238 | 115,123 | ||||||||
Siemens AG | 14,342 | 1,715,641 | ||||||||
Symrise AG | 2,996 | 287,748 | ||||||||
thyssenkrupp AG(a) | 9,681 | 135,999 | ||||||||
TUI AG | 8,835 | 98,339 | ||||||||
United Internet AG | 2,615 | 104,712 | ||||||||
Vonovia SE | 9,014 | 449,236 | ||||||||
Wirecard AG | 2,309 | 345,975 | ||||||||
Zalando SE‡* | 3,294 | 154,825 | ||||||||
Total Germany | 21,718,624 | |||||||||
Hong Kong —3.4% | ||||||||||
AIA Group Ltd. | 229,283 | 2,336,551 | ||||||||
ASM Pacific Technology Ltd. | 6,952 | 80,504 | ||||||||
Bank of East Asia Ltd. (The) | 36,821 | 116,160 | ||||||||
CK Asset Holdings Ltd. | 54,128 | 434,658 | ||||||||
CK Hutchison Holdings Ltd. | 55,036 | 578,042 | ||||||||
CK Infrastructure Holdings Ltd. | 16,330 | 132,590 | ||||||||
CLP Holdings Ltd. | 32,301 | 366,224 | ||||||||
Hang Lung Properties Ltd. | 50,902 | 119,641 | ||||||||
Hang Seng Bank Ltd. | 15,143 | 397,616 | ||||||||
Henderson Land Development Co., Ltd. | 27,973 | 172,215 | ||||||||
Hong Kong & China Gas Co., Ltd. | 184,747 | 440,827 | ||||||||
Hong Kong Exchanges and Clearing Ltd. | 24,198 | 838,945 | ||||||||
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Hong Kong (continued) | ||||||||||
Hongkong Land Holdings Ltd. | 27,135 | $ | 189,131 | |||||||
Hysan Development Co., Ltd. | 26,327 | 147,316 | ||||||||
Jardine Matheson Holdings Ltd. | 4,176 | 274,781 | ||||||||
Jardine Strategic Holdings Ltd. | 4,070 | 153,927 | ||||||||
Link REIT | 42,703 | 498,040 | ||||||||
MTR Corp. Ltd. | 32,334 | 192,469 | ||||||||
New World Development Co., Ltd. | 136,959 | 226,595 | ||||||||
Power Assets Holdings Ltd. | 29,304 | 204,315 | ||||||||
Sino Land Co., Ltd. | 80,378 | 141,384 | ||||||||
Sun Hung Kai Properties Ltd. | 28,181 | 486,362 | ||||||||
Swire Pacific Ltd., Class A | 12,950 | 163,909 | ||||||||
Techtronic Industries Co., Ltd. | 29,373 | 212,284 | ||||||||
WH Group Ltd.‡ | 166,980 | 197,939 | ||||||||
Wharf Real Estate Investment Co., Ltd. | 26,003 | 199,197 | ||||||||
Wheelock & Co., Ltd. | 20,061 | 142,811 | ||||||||
Total Hong Kong | 9,444,433 | |||||||||
Ireland — 0.6% | ||||||||||
Bank of Ireland Group PLC* | 19,888 | 126,822 | ||||||||
CRH PLC | 15,189 | 506,909 | ||||||||
Glanbia PLC | 3,114 | 57,199 | ||||||||
James Hardie Industries PLC | 9,961 | 135,173 | ||||||||
Kerry Group PLC, Class A | 2,853 | 319,096 | ||||||||
Kingspan Group PLC | 3,102 | 162,974 | ||||||||
Paddy Power Betfair PLC | 1,486 | 125,687 | ||||||||
Smurfit Kappa Group PLC | 4,562 | 133,516 | ||||||||
Total Ireland | 1,567,376 | |||||||||
Israel — 0.5% | ||||||||||
Bank Hapoalim BM | 42,665 | 313,382 | ||||||||
Bank Leumi Le-Israel BM | 45,852 | 313,363 | ||||||||
Bezeq The Israeli Telecommunication Corp. Ltd. | 91,238 | 62,329 | ||||||||
Israel Discount Bank Ltd., Class A | 38,661 | 150,521 | ||||||||
Nice Ltd.* | 2,033 | 280,250 | ||||||||
Teva Pharmaceutical Industries Ltd.* | 18,800 | 289,022 | ||||||||
Total Israel | 1,408,867 | |||||||||
Italy — 2.0% | ||||||||||
Assicurazioni Generali SpA | 25,176 | 488,115 | ||||||||
Atlantia SpA | 11,848 | 322,922 | ||||||||
Enel SpA | 150,082 | 948,463 | ||||||||
Eni SpA | 49,789 | 849,143 | ||||||||
FinecoBank Banca Fineco SpA | 8,963 | 117,876 | ||||||||
Intesa Sanpaolo SpA | 288,161 | 754,716 | ||||||||
Leonardo SpA | 10,231 | 118,041 | ||||||||
Mediobanca Banca di Credito Finanziario SpA | 18,833 | 199,453 | ||||||||
Moncler SpA | 3,972 | 162,789 | ||||||||
Prysmian SpA* | 8,134 | 156,700 | ||||||||
Recordati SpA | 3,667 | 147,905 | ||||||||
Snam SpA | 48,951 | 248,897 | ||||||||
Telecom Italia SpA* | 323,609 | 180,827 | ||||||||
Terna Rete Elettrica Nazionale SpA | 36,784 | 220,053 | ||||||||
UniCredit SpA | 43,181 | 596,685 | ||||||||
Unione di Banche Italiane SpA | 27,953 | 87,089 | ||||||||
Total Italy | 5,599,674 | |||||||||
Japan(b) — 24.0% | ||||||||||
Advantest Corp. | 4,250 | 119,820 | ||||||||
Aeon Co., Ltd. | 14,961 | 275,981 | ||||||||
AGC, Inc. | 5,044 | 171,417 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Japan(b) (continued) | ||||||||||
Air Water, Inc. | 6,337 | $ | 96,271 | |||||||
Aisin Seiki Co., Ltd. | 3,951 | 152,719 | ||||||||
Ajinomoto Co., Inc. | 11,576 | 186,307 | ||||||||
Alfresa Holdings Corp. | 5,493 | 152,645 | ||||||||
Alps Alpine Co., Ltd. | 4,973 | 104,796 | ||||||||
Amada Holdings Co., Ltd. | 12,133 | 134,648 | ||||||||
Aozora Bank Ltd. | 4,846 | 117,870 | ||||||||
Asahi Group Holdings Ltd. | 8,430 | 365,508 | ||||||||
Asahi Kasei Corp. | 29,599 | 303,764 | ||||||||
Astellas Pharma, Inc. | 39,709 | 538,010 | ||||||||
Bandai Namco Holdings, Inc. | 5,118 | 243,550 | ||||||||
Bank of Kyoto Ltd. (The) | 1,966 | 84,730 | ||||||||
Bridgestone Corp. | 12,661 | 500,870 | ||||||||
Brother Industries Ltd. | 6,912 | 135,478 | ||||||||
Canon, Inc. | 20,820 | 577,445 | ||||||||
Central Japan Railway Co. | 3,595 | 771,291 | ||||||||
Chiba Bank Ltd. (The) | 17,415 | 90,847 | ||||||||
Chubu Electric Power Co., Inc. | 14,306 | 207,574 | ||||||||
Chugai Pharmaceutical Co., Ltd. | 5,004 | 316,302 | ||||||||
Concordia Financial Group Ltd. | 28,429 | 110,270 | ||||||||
Dai Nippon Printing Co., Ltd. | 8,041 | 190,096 | ||||||||
Daifuku Co., Ltd. | 2,223 | 135,326 | ||||||||
Dai-ichi Life Holdings, Inc. | 22,070 | 316,064 | ||||||||
Daiichi Sankyo Co., Ltd. | 12,933 | 636,460 | ||||||||
Daikin Industries Ltd. | 5,473 | 692,878 | ||||||||
Daito Trust Construction Co., Ltd. | 1,610 | 214,884 | ||||||||
Daiwa House Industry Co., Ltd. | 13,233 | 369,633 | ||||||||
Daiwa Securities Group, Inc. | 36,935 | 170,821 | ||||||||
Denso Corp. | 8,694 | 378,828 | ||||||||
Dentsu, Inc. | 4,764 | 193,982 | ||||||||
East Japan Railway Co. | 7,268 | 682,915 | ||||||||
Eisai Co., Ltd. | 5,297 | 306,953 | ||||||||
Electric Power Development Co., Ltd. | 3,960 | 91,733 | ||||||||
FamilyMart UNY Holdings Co., Ltd. | 4,633 | 123,463 | ||||||||
FANUC Corp. | 3,886 | 724,863 | ||||||||
Fast Retailing Co., Ltd. | 1,023 | 590,240 | ||||||||
FUJIFILM Holdings Corp. | 8,022 | 373,388 | ||||||||
Fujitsu Ltd. | 4,040 | 295,088 | ||||||||
Fukuoka Financial Group, Inc. | 5,073 | 117,334 | ||||||||
Hamamatsu Photonics K.K. | 3,635 | 147,032 | ||||||||
Hankyu Hanshin Holdings, Inc. | 5,590 | 208,292 | ||||||||
Hino Motors Ltd. | 9,034 | 85,007 | ||||||||
Hirose Electric Co., Ltd. | 960 | 110,847 | ||||||||
Hisamitsu Pharmaceutical Co., Inc. | 1,831 | 77,432 | ||||||||
Hitachi Ltd. | 18,492 | 612,498 | ||||||||
Honda Motor Co., Ltd. | 33,893 | 943,679 | ||||||||
Hoya Corp. | 7,898 | 554,190 | ||||||||
Idemitsu Kosan Co., Ltd. | 4,408 | 142,679 | ||||||||
IHI Corp. | 3,766 | 89,167 | ||||||||
Inpex Corp. | 20,853 | 202,398 | ||||||||
Isetan Mitsukoshi Holdings Ltd. | 8,319 | 79,101 | ||||||||
Isuzu Motors Ltd. | 14,237 | 203,952 | ||||||||
ITOCHU Corp. | 29,840 | 535,847 | ||||||||
Japan Exchange Group, Inc. | 11,870 | 192,691 | ||||||||
Japan Tobacco, Inc. | 23,858 | 551,813 | ||||||||
JFE Holdings, Inc. | 11,305 | 193,365 | ||||||||
JGC Corp. | 6,506 | 92,763 | ||||||||
JXTG Holdings, Inc. | 67,962 | 329,940 | ||||||||
Kajima Corp. | 9,930 | 146,665 | ||||||||
Kansai Electric Power Co., Inc. (The) | 15,180 | 183,387 | ||||||||
Kansai Paint Co., Ltd. | 6,718 | 127,574 | ||||||||
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Japan(b) (continued) | ||||||||||
Kao Corp. | 9,538 | $ | 732,810 | |||||||
KDDI Corp. | 34,415 | 785,017 | ||||||||
Keikyu Corp. | 6,969 | 118,637 | ||||||||
Keio Corp. | 3,260 | 196,112 | ||||||||
Keisei Electric Railway Co., Ltd. | 4,170 | 145,646 | ||||||||
Keyence Corp. | 1,764 | 1,094,749 | ||||||||
Kikkoman Corp. | 4,652 | 215,527 | ||||||||
Kintetsu Group Holdings Co., Ltd. | 4,223 | 187,120 | ||||||||
Kirin Holdings Co., Ltd. | 17,415 | 393,958 | ||||||||
Kobayashi Pharmaceutical Co., Ltd. | 1,324 | 105,326 | ||||||||
Koito Manufacturing Co., Ltd. | 3,133 | 186,222 | ||||||||
Komatsu Ltd. | 18,577 | 475,705 | ||||||||
Konami Holdings Corp. | 2,135 | 96,998 | ||||||||
Konica Minolta, Inc. | 12,147 | 121,497 | ||||||||
Kose Corp. | 615 | 115,131 | ||||||||
Kubota Corp. | 23,588 | 356,441 | ||||||||
Kuraray Co., Ltd. | 10,744 | 143,446 | ||||||||
Kurita Water Industries Ltd. | 4,770 | 123,602 | ||||||||
Kyocera Corp. | 6,675 | 430,916 | ||||||||
Kyowa Hakko Kirin Co., Ltd. | 6,990 | 135,313 | ||||||||
Kyushu Electric Power Co., Inc. | 10,229 | 98,915 | ||||||||
Lion Corp. | 5,860 | 120,383 | ||||||||
LIXIL Group Corp. | 6,689 | 86,904 | ||||||||
M3, Inc. | 9,657 | 170,726 | ||||||||
Makita Corp. | 6,190 | 225,091 | ||||||||
Marubeni Corp. | 38,645 | 275,885 | ||||||||
Marui Group Co., Ltd. | 6,416 | 130,019 | ||||||||
Matsumotokiyoshi Holdings Co., Ltd. | 2,042 | 67,012 | ||||||||
Mazda Motor Corp. | 12,124 | 143,202 | ||||||||
MEIJI Holdings Co., Ltd. | 3,026 | 237,733 | ||||||||
MINEBEA MITSUMI, Inc. | 8,853 | 156,592 | ||||||||
MISUMI Group, Inc. | 7,712 | 199,283 | ||||||||
Mitsubishi Chemical Holdings Corp. | 29,055 | 205,857 | ||||||||
Mitsubishi Corp. | 26,669 | 731,766 | ||||||||
Mitsubishi Electric Corp. | 40,240 | 571,580 | ||||||||
Mitsubishi Estate Co., Ltd. | 24,548 | 413,376 | ||||||||
Mitsubishi Heavy Industries Ltd. | 6,485 | 269,066 | ||||||||
Mitsubishi Materials Corp.(a) | 3,229 | 83,613 | ||||||||
Mitsubishi Motors Corp. | 15,908 | 88,985 | ||||||||
Mitsubishi UFJ Financial Group, Inc. | 245,857 | 1,213,888 | ||||||||
Mitsui & Co., Ltd. | 35,176 | 566,606 | ||||||||
Mitsui Chemicals, Inc. | 3,841 | 93,736 | ||||||||
Mitsui Fudosan Co., Ltd. | 18,626 | 429,297 | ||||||||
Mizuho Financial Group, Inc. | 467,031 | 727,541 | ||||||||
MonotaRO Co., Ltd. | 2,909 | 66,917 | ||||||||
MS&AD Insurance Group Holdings, Inc. | 10,501 | 324,152 | ||||||||
Murata Manufacturing Co., Ltd. | 11,138 | 596,027 | ||||||||
Nabtesco Corp. | 4,287 | 130,486 | ||||||||
NEC Corp. | 5,781 | 194,387 | ||||||||
Nexon Co., Ltd.* | 8,123 | 116,402 | ||||||||
NGK Spark Plug Co., Ltd. | 5,585 | 108,165 | ||||||||
NH Foods Ltd. | 3,136 | 125,862 | ||||||||
Nichirei Corp. | 2,594 | 59,671 | ||||||||
Nidec Corp. | 4,741 | 671,934 | ||||||||
Nihon M&A Center, Inc. | 3,211 | 90,816 | ||||||||
Nikon Corp. | 9,940 | 138,334 | ||||||||
Nintendo Co., Ltd. | 2,080 | 709,675 | ||||||||
Nippon Express Co., Ltd. | 2,038 | 111,621 | ||||||||
Nippon Paint Holdings Co., Ltd. | 3,710 | 140,405 | ||||||||
Nippon Shinyaku Co., Ltd. | 1,744 | 119,947 | ||||||||
Nippon Steel Corp. | 16,481 | 293,070 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Japan(b) (continued) | ||||||||||
Nippon Telegraph & Telephone Corp. | 12,960 | $ | 537,135 | |||||||
Nissan Chemical Corp. | 4,688 | 207,514 | ||||||||
Nissan Motor Co., Ltd. | 35,400 | 283,931 | ||||||||
Nisshin Seifun Group, Inc. | 8,468 | 196,465 | ||||||||
Nissin Foods Holdings Co., Ltd. | 2,543 | 167,364 | ||||||||
Nitori Holdings Co., Ltd. | 1,751 | 208,312 | ||||||||
Nitto Denko Corp. | 3,628 | 195,122 | ||||||||
Nomura Holdings, Inc. | 68,610 | 257,376 | ||||||||
Nomura Research Institute Ltd. | 3,121 | 152,162 | ||||||||
NSK Ltd. | 11,491 | 118,650 | ||||||||
NTT Data Corp. | 15,582 | 181,038 | ||||||||
NTT DOCOMO, Inc. | 25,107 | 543,393 | ||||||||
Obayashi Corp. | 17,573 | 171,825 | ||||||||
Obic Co., Ltd. | 2,035 | 234,973 | ||||||||
Odakyu Electric Railway Co., Ltd. | 7,771 | 182,387 | ||||||||
Oji Holdings Corp. | 25,280 | 151,169 | ||||||||
Olympus Corp. | 27,122 | 302,938 | ||||||||
Omron Corp. | 4,711 | 251,676 | ||||||||
Ono Pharmaceutical Co., Ltd. | 9,846 | 183,836 | ||||||||
Oriental Land Co., Ltd. | 4,092 | 450,809 | ||||||||
ORIX Corp. | 26,462 | 373,379 | ||||||||
Osaka Gas Co., Ltd. | 8,473 | 156,337 | ||||||||
Otsuka Corp. | 2,227 | 87,380 | ||||||||
Otsuka Holdings Co., Ltd. | 9,021 | 321,476 | ||||||||
Pan Pacific International Holdings Corp. | 2,860 | 184,119 | ||||||||
Panasonic Corp. | 41,689 | 382,173 | ||||||||
PeptiDream, Inc.* | 2,320 | 124,775 | ||||||||
Pigeon Corp. | 2,441 | 103,338 | ||||||||
Pola Orbis Holdings, Inc. | 1,901 | 59,740 | ||||||||
Rakuten, Inc. | 15,962 | 176,997 | ||||||||
Recruit Holdings Co., Ltd. | 23,333 | 697,424 | ||||||||
Resona Holdings, Inc. | 50,265 | 211,982 | ||||||||
Ricoh Co., Ltd. | 16,977 | 171,180 | ||||||||
Rohm Co., Ltd. | 2,309 | 168,964 | ||||||||
Ryohin Keikaku Co., Ltd. | 621 | 117,872 | ||||||||
Santen Pharmaceutical Co., Ltd. | 10,222 | 155,475 | ||||||||
SBI Holdings, Inc. | 6,718 | 143,136 | ||||||||
Secom Co., Ltd. | 4,347 | 364,465 | ||||||||
Seiko Epson Corp. | 7,157 | 114,319 | ||||||||
Sekisui Chemical Co., Ltd. | 10,901 | 174,318 | ||||||||
Sekisui House Ltd. | 13,233 | 212,916 | ||||||||
Seven & i Holdings Co., Ltd. | 15,181 | 526,002 | ||||||||
SG Holdings Co., Ltd. | 4,403 | 117,611 | ||||||||
Sharp Corp.* | 2,956 | 32,805 | ||||||||
Shimadzu Corp. | 7,267 | 194,048 | ||||||||
Shimano, Inc. | 1,745 | 255,228 | ||||||||
Shimizu Corp. | 15,144 | 129,038 | ||||||||
Shin-Etsu Chemical Co., Ltd. | 8,289 | 776,245 | ||||||||
Shionogi & Co., Ltd. | 6,390 | 371,552 | ||||||||
Shiseido Co., Ltd. | 7,779 | 608,910 | ||||||||
Shizuoka Bank Ltd. (The) | 14,865 | 113,448 | ||||||||
Showa Denko K.K. | 3,222 | 108,919 | ||||||||
SMC Corp. | 1,215 | 502,473 | ||||||||
Softbank Corp.(a) | 28,857 | 339,936 | ||||||||
SoftBank Group Corp. | 15,866 | 1,646,075 | ||||||||
Sompo Holdings, Inc. | 7,848 | 293,203 | ||||||||
Sony Corp. | 23,628 | 1,105,716 | ||||||||
Sotetsu Holdings, Inc. | 3,401 | 93,900 | ||||||||
Stanley Electric Co., Ltd. | 4,299 | 116,184 | ||||||||
Subaru Corp. | 12,079 | 295,048 | ||||||||
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Japan(b) (continued) | ||||||||||
SUMCO Corp. | 5,696 | $ | 74,668 | |||||||
Sumitomo Chemical Co., Ltd. | 34,217 | 169,587 | ||||||||
Sumitomo Corp. | 24,841 | 354,521 | ||||||||
Sumitomo Dainippon Pharma Co., Ltd. | 3,418 | 75,188 | ||||||||
Sumitomo Electric Industries Ltd. | 16,658 | 220,536 | ||||||||
Sumitomo Metal Mining Co., Ltd. | 5,483 | 171,271 | ||||||||
Sumitomo Mitsui Financial Group, Inc. | 26,268 | 948,360 | ||||||||
Sumitomo Mitsui Trust Holdings, Inc. | 7,766 | 269,431 | ||||||||
Sumitomo Realty & Development Co., Ltd. | 9,127 | 336,234 | ||||||||
Suntory Beverage & Food Ltd. | 3,196 | 140,610 | ||||||||
Suzuki Motor Corp. | 8,620 | 392,012 | ||||||||
Sysmex Corp. | 4,228 | 241,134 | ||||||||
T&D Holdings, Inc. | 13,995 | 150,348 | ||||||||
Taiheiyo Cement Corp. | 3,813 | 122,221 | ||||||||
Taisei Corp. | 5,484 | 240,040 | ||||||||
Taisho Pharmaceutical Holdings Co., Ltd. | 1,391 | 128,390 | ||||||||
Taiyo Yuden Co., Ltd. | 3,004 | 72,474 | ||||||||
Takeda Pharmaceutical Co., Ltd. | 28,839 | 1,064,745 | ||||||||
TDK Corp. | 2,700 | 234,909 | ||||||||
Teijin Ltd. | 6,383 | 109,292 | ||||||||
Terumo Corp. | 13,874 | 416,936 | ||||||||
Tobu Railway Co., Ltd. | 5,597 | 157,796 | ||||||||
Toho Co., Ltd. | 3,971 | 165,971 | ||||||||
Toho Gas Co., Ltd. | 2,033 | 83,602 | ||||||||
Tohoku Electric Power Co., Inc. | 10,240 | 116,950 | ||||||||
Tokio Marine Holdings, Inc. | 13,566 | 682,350 | ||||||||
Tokyo Electric Power Co., Holdings, Inc.* | 31,633 | 178,366 | ||||||||
Tokyo Electron Ltd. | 3,166 | 501,585 | ||||||||
Tokyo Gas Co., Ltd. | 9,957 | 252,736 | ||||||||
Tokyu Corp. | 12,790 | 208,085 | ||||||||
Toppan Printing Co., Ltd. | 7,417 | 119,937 | ||||||||
Toray Industries, Inc. | 33,155 | 225,648 | ||||||||
Toshiba Corp. | 10,495 | 348,655 | ||||||||
TOTO Ltd. | 4,087 | 172,104 | ||||||||
Toyo Suisan Kaisha Ltd. | 3,075 | 116,926 | ||||||||
Toyota Industries Corp. | 3,654 | 206,691 | ||||||||
Toyota Motor Corp. | 46,332 | 2,872,480 | ||||||||
Toyota Tsusho Corp. | 5,514 | 182,191 | ||||||||
Tsuruha Holdings, Inc. | 1,102 | 93,701 | ||||||||
Unicharm Corp. | 8,835 | 289,463 | ||||||||
USS Co., Ltd. | 7,225 | 137,916 | ||||||||
West Japan Railway Co. | 3,945 | 292,647 | ||||||||
Yahoo Japan Corp. | 59,036 | 156,899 | ||||||||
Yakult Honsha Co., Ltd. | 3,183 | 215,772 | ||||||||
Yamada Denki Co., Ltd. | 19,478 | 92,165 | ||||||||
Yamaguchi Financial Group, Inc. | 11,171 | 82,247 | ||||||||
Yamaha Corp. | 3,400 | 175,533 | ||||||||
Yamaha Motor Co., Ltd. | 6,673 | 137,085 | ||||||||
Yamato Holdings Co., Ltd. | 8,219 | 178,032 | ||||||||
Yaskawa Electric Corp. | 5,577 | 205,053 | ||||||||
ZOZO, Inc. | 3,912 | 69,020 | ||||||||
Total Japan | 67,395,175 | |||||||||
Luxembourg — 0.2% | ||||||||||
ArcelorMittal | 11,028 | 238,876 | ||||||||
Eurofins Scientific SE(a) | 255 | 116,598 | ||||||||
RTL Group SA(a) | 951 | 53,396 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Luxembourg (continued) | ||||||||||
SES SA | 7,320 | $ | 124,448 | |||||||
Tenaris SA | 10,974 | 152,256 | ||||||||
Total Luxembourg | 685,574 | |||||||||
Macau — 0.3% | ||||||||||
Galaxy Entertainment Group Ltd. | 43,526 | 325,388 | ||||||||
Sands China Ltd. | 50,328 | 276,485 | ||||||||
Wynn Macau Ltd. | 38,992 | 111,826 | ||||||||
Total Macau | 713,699 | |||||||||
Netherlands — 4.2% | ||||||||||
ABN AMRO Group NV‡(a) | 5,856 | 137,622 | ||||||||
Adyen NV‡* | 166 | 134,988 | ||||||||
Aegon NV | 34,645 | 180,777 | ||||||||
Akzo Nobel NV | 4,445 | 377,101 | ||||||||
ASML Holding NV | 7,165 | 1,489,853 | ||||||||
ASR Nederland NV | 2,217 | 98,390 | ||||||||
EXOR NV | 2,625 | 174,627 | ||||||||
Heineken Holding NV | 2,258 | 229,141 | ||||||||
Heineken NV | 4,439 | 478,774 | ||||||||
ING Groep NV(a) | 73,904 | 940,552 | ||||||||
Koninklijke Ahold Delhaize NV | 22,121 | 532,015 | ||||||||
Koninklijke DSM NV | 3,828 | 436,941 | ||||||||
Koninklijke KPN NV(a) | 69,428 | 212,883 | ||||||||
Koninklijke Philips NV | 17,517 | 745,303 | ||||||||
NN Group NV | 7,227 | 314,415 | ||||||||
Randstad NV | 2,287 | 130,510 | ||||||||
Royal Dutch Shell PLC, Class A | 80,895 | 2,583,740 | ||||||||
Royal Dutch Shell PLC, Class B | 70,491 | 2,264,767 | ||||||||
Wolters Kluwer NV | 5,449 | 379,714 | ||||||||
Total Netherlands | 11,842,113 | |||||||||
New Zealand — 0.3% | ||||||||||
a2 Milk Co., Ltd.* | 15,411 | 172,355 | ||||||||
Auckland International Airport Ltd. | 34,121 | 181,360 | ||||||||
Fisher & Paykel Healthcare Corp. Ltd. | 17,048 | 179,749 | ||||||||
Fletcher Building Ltd. | 28,971 | 99,695 | ||||||||
Spark New Zealand Ltd. | 56,325 | 137,857 | ||||||||
Total New Zealand | 771,016 | |||||||||
Norway — 0.7% | ||||||||||
Aker BP ASA | 2,196 | 72,248 | ||||||||
DNB ASA*(a) | 22,233 | 425,891 | ||||||||
Equinor ASA | 19,625 | 436,754 | ||||||||
Mowi ASA | 6,940 | 149,996 | ||||||||
Norsk Hydro ASA | 27,219 | 116,336 | ||||||||
Orkla ASA | 19,577 | 153,130 | ||||||||
Schibsted ASA, Class A | 3,648 | 95,508 | ||||||||
Telenor ASA | 12,249 | 245,334 | ||||||||
Yara International ASA | 3,653 | 164,369 | ||||||||
Total Norway | 1,859,566 | |||||||||
Poland — 0.3% | ||||||||||
Bank Polska Kasa Opieki SA | 6,215 | 184,594 | ||||||||
CD Projekt SA* | 1,489 | 83,589 | ||||||||
mBank SA | 965 | 111,673 | ||||||||
Polski Koncern Naftowy ORLEN SA | 7,151 | 182,917 | ||||||||
Powszechna Kasa Oszczednosci Bank Polski SA | 21,408 | 219,443 | ||||||||
Powszechny Zaklad Ubezpieczen SA | 14,252 | 156,366 | ||||||||
Total Poland | 938,582 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Portugal — 0.1% | ||||||||||
EDP —Energias de Portugal SA* | 47,866 | $ | 181,261 | |||||||
Galp Energia SGPS SA | 8,410 | 141,094 | ||||||||
Jeronimo Martins SGPS SA | 5,861 | 95,373 | ||||||||
Total Portugal | 417,728 | |||||||||
Russia — 0.1% | ||||||||||
Polymetal International PLC | 14,022 | 147,445 | ||||||||
VEON Ltd. | 25,710 | 61,372 | ||||||||
Total Russia | 208,817 | |||||||||
Singapore — 1.3% | ||||||||||
Ascendas Real Estate Investment Trust | 91,475 | 201,605 | ||||||||
CapitaLand Commercial Trust | 122,924 | 175,193 | ||||||||
CapitaLand Ltd. | 56,060 | 145,380 | ||||||||
CapitaLand Mall Trust | 99,450 | 176,807 | ||||||||
ComfortDelGro Corp. Ltd. | 66,718 | 131,848 | ||||||||
DBS Group Holdings Ltd. | 34,073 | 707,142 | ||||||||
Genting Singapore Ltd | 149,808 | 108,405 | ||||||||
Keppel Corp. Ltd. | 37,706 | 187,533 | ||||||||
Oversea-Chinese Banking Corp. Ltd. | 63,319 | 562,856 | ||||||||
Singapore Exchange Ltd. | 29,594 | 160,449 | ||||||||
Singapore Post Ltd. | 91,262 | 69,727 | ||||||||
Singapore Press Holdings Ltd. | 57,677 | 106,354 | ||||||||
Singapore Technologies Engineering Ltd. | 46,875 | 136,369 | ||||||||
Singapore Telecommunications Ltd. | 140,007 | 326,052 | ||||||||
United Overseas Bank Ltd. | 24,406 | 498,986 | ||||||||
Total Singapore | 3,694,706 | |||||||||
South Africa — 0.2% | ||||||||||
Anglo American PLC(a) | 20,159 | 520,718 | ||||||||
South Korea —4.3% | ||||||||||
Amorepacific Corp. | 771 | 137,284 | ||||||||
Celltrion, Inc.* | 1,547 | 280,755 | ||||||||
DB Insurance Co., Ltd. | 1,803 | 105,573 | ||||||||
E-Mart Inc. | 668 | 98,357 | ||||||||
GS Holdings Corp. | 2,207 | 98,244 | ||||||||
Hana Financial Group, Inc. | 6,840 | 215,479 | ||||||||
Hankook Tire Co., Ltd. | 2,320 | 78,945 | ||||||||
Hanmi Pharm Co. Ltd. | 178 | 66,208 | ||||||||
Helixmith Co. Ltd.* | 333 | 74,203 | ||||||||
HLB, Inc.* | 811 | 58,248 | ||||||||
Hotel Shilla Co., Ltd. | 927 | 91,260 | ||||||||
Hyundai Engineering & Construction Co. Ltd. | 1,761 | 79,144 | ||||||||
Hyundai Heavy Industries Co., Ltd.* | 947 | 100,930 | ||||||||
Hyundai Heavy Industries Holdings Co., Ltd. | 258 | 75,535 | ||||||||
Hyundai Mobis Co., Ltd. | 1,310 | 260,733 | ||||||||
Hyundai Motor Co. | 3,460 | 410,230 | ||||||||
Industrial Bank of Korea | 9,685 | 117,316 | ||||||||
Kakao Corp. | 1,132 | 116,286 | ||||||||
Kangwon Land, Inc. | 4,284 | 124,689 | ||||||||
KB Financial Group, Inc. | 8,557 | 338,427 | ||||||||
Kia Motors Corp. | 6,141 | 237,881 | ||||||||
Korea Electric Power Corp.* | 5,584 | 135,280 | ||||||||
Korea Zinc Co., Ltd. | 328 | 127,056 | ||||||||
KT&G Corp. | 2,779 | 242,655 | ||||||||
LG Chem Ltd. | 1,032 | 318,925 | ||||||||
LG Corp. | 2,587 | 161,667 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
South Korea (continued) | ||||||||||
LG Display Co., Ltd.* | 5,206 | $ | 88,910 | |||||||
LG Electronics, Inc. | 2,357 | 152,943 | ||||||||
LG Household & Health Care Ltd. | 214 | 260,504 | ||||||||
Lotte Chemical Corp. | 398 | 91,480 | ||||||||
Medy-Tox, Inc. | 136 | 65,092 | ||||||||
NAVER Corp. | 2,806 | 287,050 | ||||||||
NCSoft Corp. | 400 | 180,114 | ||||||||
POSCO | 1,419 | 309,759 | ||||||||
Samsung Biologics Co., Ltd.‡* | 355 | 103,326 | ||||||||
Samsung C&T Corp. | 1,743 | 152,941 | ||||||||
Samsung Electro-Mechanics Co., Ltd. | 1,229 | 114,152 | ||||||||
Samsung Electronics Co., Ltd. | 87,456 | 3,432,656 | ||||||||
Samsung Fire & Marine Insurance Co., Ltd. | 867 | 225,629 | ||||||||
Samsung Life Insurance Co., Ltd. | 1,855 | 134,820 | ||||||||
Samsung SDI Co., Ltd. | 1,129 | 228,574 | ||||||||
Samsung SDS Co., Ltd. | 700 | 130,035 | ||||||||
Shinhan Financial Group Co., Ltd. | 10,212 | 385,523 | ||||||||
SillaJen, Inc.* | 1,226 | 68,639 | ||||||||
SK Holdings Co., Ltd. | 751 | 164,903 | ||||||||
SK Hynix, Inc. | 9,795 | 662,419 | ||||||||
SK Innovation Co., Ltd. | 1,394 | 217,784 | ||||||||
SK Telecom Co., Ltd. | 793 | 168,016 | ||||||||
S-Oil Corp. | 1,311 | 103,475 | ||||||||
Woongjin Coway Co., Ltd. | 1,737 | 130,556 | ||||||||
Woori Financial Group, Inc. | 12,530 | 148,560 | ||||||||
Total South Korea | 12,159,170 | |||||||||
Spain — 2.9% | ||||||||||
Abertis Infraestructuras SA*(c)(d) | 5,353 | 44,573 | ||||||||
ACS Actividades de Construccion y Servicios SA | 5,970 | 273,846 | ||||||||
Aena SME SA‡ | 1,322 | 244,977 | ||||||||
Amadeus IT Group SA | 8,097 | 643,550 | ||||||||
Banco Bilbao Vizcaya Argentaria SA | 125,736 | 763,463 | ||||||||
Banco de Sabadell SA(a) | 124,004 | 143,974 | ||||||||
Banco Santander SA(a) | 300,885 | 1,521,287 | ||||||||
Bankinter SA | 18,933 | 151,031 | ||||||||
CaixaBank SA | 70,147 | 223,185 | ||||||||
Cellnex Telecom SA‡* | 4,197 | 128,972 | ||||||||
Enagas SA | 5,815 | 165,529 | ||||||||
Endesa SA | 6,244 | 155,418 | ||||||||
Ferrovial SA | 11,031 | 271,479 | ||||||||
Grifols SA | 11,091 | 307,511 | ||||||||
Iberdrola SA | 112,113 | 1,017,474 | ||||||||
Industria de Diseno Textil SA | 19,609 | 592,688 | ||||||||
Naturgy Energy Group SA | 5,971 | 169,434 | ||||||||
Red Electrica Corp. SA | 9,156 | 189,677 | ||||||||
Repsol SA | 24,303 | 412,087 | ||||||||
Telefonica SA | 83,038 | 691,627 | ||||||||
Total Spain | 8,111,782 | |||||||||
Sweden — 2.5% | ||||||||||
Alfa Laval AB(a) | 7,325 | 169,818 | ||||||||
Assa Abloy AB, B Shares(a) | 17,168 | 365,868 | ||||||||
Atlas Copco AB, A Shares | 11,692 | �� | 363,054 | |||||||
Atlas Copco AB, B Shares | 7,107 | 202,068 | ||||||||
Boliden AB*(a) | 5,599 | 166,083 | ||||||||
Electrolux AB | 5,343 | 131,119 | ||||||||
Epiroc AB, A Shares* | 11,317 | 116,898 | ||||||||
Epiroc AB, B Shares* | 6,769 | 66,894 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Sweden (continued) | ||||||||||
Essity AB, B Shares | 11,559 | $ | 342,631 | |||||||
Hennes & Mauritz AB, B Shares(a) | 16,560 | 288,426 | ||||||||
Hexagon AB, B Shares | 4,835 | 263,446 | ||||||||
Industrivarden AB, A Shares | 10,058 | 232,544 | ||||||||
Investor AB, B Shares | 10,508 | 500,376 | ||||||||
Kinnevik AB, B Shares | 6,538 | 190,154 | ||||||||
Lundin Petroleum AB | 5,014 | 163,920 | ||||||||
Sandvik AB(a) | 20,486 | 378,504 | ||||||||
Securitas AB, B Shares | 7,063 | 123,328 | ||||||||
Skandinaviska Enskilda Banken AB, A Shares | 27,224 | 259,503 | ||||||||
Skanska AB, B Shares | 7,168 | 124,634 | ||||||||
SKF AB, B Shares | 8,254 | 152,590 | ||||||||
Svenska Cellulosa AB SCA, B Shares | 13,547 | 118,017 | ||||||||
Svenska Handelsbanken AB, A Shares(a) | 27,660 | 301,569 | ||||||||
Swedbank AB, A Shares | 18,796 | 304,574 | ||||||||
Swedish Match AB | 4,232 | 205,929 | ||||||||
Tele2 AB, B Shares | 11,047 | 147,227 | ||||||||
Telefonaktiebolaget LM Ericsson, B Shares | 55,679 | 550,535 | ||||||||
Telia Co. AB | 49,658 | 211,235 | ||||||||
Trelleborg AB, B Shares | 6,711 | 110,829 | ||||||||
Volvo AB, B Shares | 28,722 | 459,223 | ||||||||
Total Sweden | 7,010,996 | |||||||||
Switzerland — 8.5% | ||||||||||
ABB Ltd.* | 34,180 | 703,390 | ||||||||
Adecco Group AG | 3,085 | 177,168 | ||||||||
Alcon, Inc.* | 7,852 | 452,164 | ||||||||
Baloise Holding AG | 1,076 | 184,367 | ||||||||
Chocoladefabriken Lindt & Spruengli AG | 34 | 226,055 | ||||||||
Cie Financiere Richemont SA | 9,790 | 715,756 | ||||||||
Clariant AG* | 5,891 | 121,057 | ||||||||
Coca-Cola HBC AG* | 4,494 | 160,584 | ||||||||
Credit Suisse Group AG* | 45,054 | 601,309 | ||||||||
Dufry AG* | 742 | 72,482 | ||||||||
EMS-Chemie Holding AG | 217 | 131,393 | ||||||||
Geberit AG | 801 | 335,885 | ||||||||
Givaudan SA | 186 | 481,702 | ||||||||
Glencore PLC* | 210,105 | 833,625 | ||||||||
Julius Baer Group Ltd.* | 4,412 | 212,677 | ||||||||
Kuehne + Nagel International AG | 805 | 116,958 | ||||||||
LafargeHolcim Ltd.* | 8,199 | 421,456 | ||||||||
Lonza Group AG* | 1,423 | 439,468 | ||||||||
Mediclinic International PLC | 11,496 | 51,420 | ||||||||
Nestle SA | 54,636 | 5,257,173 | ||||||||
Novartis AG | 39,680 | 3,240,209 | ||||||||
Partners Group Holding AG | 410 | 308,848 | ||||||||
PSP Swiss Property AG | 1,227 | 125,229 | ||||||||
Roche Holding AG | 13,167 | 3,470,713 | ||||||||
Schindler Holding AG — Participating Certificate | 1,223 | 263,803 | ||||||||
SGS SA | 127 | 335,135 | ||||||||
Sika AG | 3,087 | 472,593 | ||||||||
Sonova Holding AG | 1,173 | 236,557 | ||||||||
Straumann Holding AG | 176 | 142,078 | ||||||||
Swatch Group AG (The) | 674 | 205,838 | ||||||||
Swiss Life Holding AG* | 705 | 331,468 | ||||||||
Swiss Prime Site AG* | 1,872 | 150,274 | ||||||||
Swiss Re AG | 5,882 | 566,034 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Switzerland (continued) | ||||||||||
Swisscom AG | 496 | $ | 231,061 | |||||||
Temenos AG* | 1,016 | 168,901 | ||||||||
UBS Group AG* | 64,080 | 859,326 | ||||||||
Vifor Pharma AG | 1,078 | 140,912 | ||||||||
Zurich Insurance Group AG | 2,689 | 857,366 | ||||||||
Total Switzerland | 23,802,434 | |||||||||
United Arab Emirates — 0.0%(e) | ||||||||||
NMC Health PLC | 2,578 | 94,842 | ||||||||
United Kingdom — 13.6% | ||||||||||
3i Group PLC | 20,866 | 291,197 | ||||||||
Admiral Group PLC | 5,830 | 167,510 | ||||||||
Ashtead Group PLC | 10,207 | 282,361 | ||||||||
Associated British Foods PLC | 6,763 | 225,616 | ||||||||
AstraZeneca PLC | 24,391 | 1,820,715 | ||||||||
Auto Trader Group PLC‡ | 18,364 | 135,358 | ||||||||
Aviva PLC | 75,971 | 425,375 | ||||||||
B&M European Value Retail SA | 16,590 | 85,321 | ||||||||
BAE Systems PLC | 57,451 | 369,986 | ||||||||
Barclays PLC | 319,757 | 684,803 | ||||||||
Barratt Developments PLC | 20,472 | 160,610 | ||||||||
Berkeley Group Holdings PLC | 2,585 | 126,575 | ||||||||
BP PLC | 361,382 | 2,633,537 | ||||||||
British American Tobacco PLC | 42,227 | 1,645,972 | ||||||||
British Land Co. PLC (The) | 19,693 | 152,496 | ||||||||
BT Group PLC | 159,054 | 474,937 | ||||||||
Bunzl PLC | 7,033 | 211,702 | ||||||||
Burberry Group PLC | 8,866 | 233,128 | ||||||||
Centrica PLC | 102,560 | 142,059 | ||||||||
Compass Group PLC | 29,097 | 661,160 | ||||||||
Croda International PLC | 3,216 | 217,215 | ||||||||
DCC PLC | 2,038 | 181,940 | ||||||||
Diageo PLC | 44,111 | 1,859,434 | ||||||||
Direct Line Insurance Group PLC | 31,460 | 135,096 | ||||||||
DS Smith PLC | 31,155 | 144,996 | ||||||||
Experian PLC | 18,213 | 528,290 | ||||||||
G4S PLC | 35,200 | 99,211 | ||||||||
GlaxoSmithKline PLC | 90,384 | 1,853,923 | ||||||||
GVC Holdings PLC | 11,781 | 100,259 | ||||||||
Hammerson PLC | 19,712 | 82,720 | ||||||||
Hargreaves Lansdown PLC | 6,155 | 181,101 | ||||||||
HSBC Holdings PLC | 369,969 | 3,217,491 | ||||||||
IMI PLC | 7,201 | 98,617 | ||||||||
Imperial Brands PLC | 17,968 | 570,608 | ||||||||
Informa PLC | 27,398 | 278,239 | ||||||||
InterContinental Hotels Group PLC | 3,684 | 238,596 | ||||||||
International Consolidated Airlines Group SA | 21,590 | 152,100 | ||||||||
Intertek Group PLC | 3,939 | 274,727 | ||||||||
ITV PLC | 72,451 | 129,067 | ||||||||
J Sainsbury PLC | 35,686 | 103,512 | ||||||||
John Wood Group PLC | 13,944 | 85,528 | ||||||||
Johnson Matthey PLC | 4,118 | 179,145 | ||||||||
Just Eat PLC* | 11,835 | 107,847 | ||||||||
Kingfisher PLC | 45,630 | 157,101 | ||||||||
Land Securities Group PLC | 14,531 | 174,847 | ||||||||
Legal & General Group PLC | 113,554 | 411,833 | ||||||||
Lloyds Banking Group PLC | 1,331,682 | 1,086,245 | ||||||||
London Stock Exchange Group PLC | 5,731 | 374,607 | ||||||||
Marks & Spencer Group PLC | 33,392 | 124,457 | ||||||||
Meggitt PLC | 19,475 | 138,215 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
United Kingdom (continued) | ||||||||||
Melrose Industries PLC | 101,804 | $ | 268,353 | |||||||
Micro Focus International PLC | 7,326 | 185,070 | ||||||||
Mondi PLC | 8,812 | 193,052 | ||||||||
National Grid PLC | 62,177 | 677,718 | ||||||||
Next PLC | 2,842 | 213,629 | ||||||||
Ocado Group PLC* | 9,177 | 163,004 | ||||||||
Pearson PLC | 16,246 | 175,829 | ||||||||
Persimmon PLC | 6,487 | 189,094 | ||||||||
Prudential PLC | 48,139 | 1,088,824 | ||||||||
Quilter PLC‡ | 34,473 | 66,324 | ||||||||
Reckitt Benckiser Group PLC | 11,731 | 947,715 | ||||||||
RELX PLC | 36,806 | 844,006 | ||||||||
Rentokil Initial PLC | 34,143 | 173,591 | ||||||||
Rolls-Royce Holdings PLC* | 31,278 | 372,933 | ||||||||
Rolls-Royce Holdings PLC —Entitlement*(c)(d) | 2,220,738 | 2,895 | ||||||||
Royal Bank of Scotland Group PLC | 84,603 | 264,261 | ||||||||
RSA Insurance Group PLC | 23,859 | 168,583 | ||||||||
Sage Group PLC (The) | 23,041 | 217,891 | ||||||||
Schroders PLC | 2,580 | 106,519 | ||||||||
Severn Trent PLC | 4,751 | 126,103 | ||||||||
Smith & Nephew PLC | 17,711 | 341,832 | ||||||||
Smiths Group PLC | 9,628 | 191,097 | ||||||||
Spirax-Sarco Engineering PLC | 1,307 | 140,569 | ||||||||
SSE PLC | 18,686 | 278,800 | ||||||||
St James’s Place PLC | 11,600 | 169,597 | ||||||||
Standard Chartered PLC | 52,919 | 482,915 | ||||||||
Standard Life Aberdeen PLC | 47,149 | 171,428 | ||||||||
Subsea 7 SA | 4,767 | 60,418 | ||||||||
Tate & Lyle PLC | 13,765 | 137,744 | ||||||||
Taylor Wimpey PLC | 65,844 | 155,709 | ||||||||
Tesco PLC | 186,827 | 608,405 | ||||||||
Unilever NV | 27,662 | 1,672,804 | ||||||||
Unilever PLC | 20,022 | 1,215,686 | ||||||||
United Utilities Group PLC | 13,774 | 148,823 | ||||||||
Vodafone Group PLC | 504,217 | 933,398 | ||||||||
Weir Group PLC (The) | 5,595 | 121,043 | ||||||||
Whitbread PLC | 3,433 | 199,604 | ||||||||
Wm Morrison Supermarkets PLC | 50,337 | 141,678 | ||||||||
WPP PLC | 23,050 | 287,390 | ||||||||
Total United Kingdom | 38,121,719 | |||||||||
United States — 0.2% | ||||||||||
Carnival PLC | 3,461 | 182,056 | ||||||||
Ferguson PLC | 4,381 | 310,694 | ||||||||
OneMarket Ltd* | 1,920 | 1,095 | ||||||||
Samsonite International SA‡* | 30,940 | 88,734 | ||||||||
Total United States | 582,579 | |||||||||
Total Common Stocks | ||||||||||
(Cost $299,531,144) | 278,939,991 | |||||||||
Preferred Stocks — 0.7% | ||||||||||
Germany — 0.5% | ||||||||||
FUCHS PETROLUB SE, 2.34% | 2,866 | $ | 124,558 | |||||||
Henkel AG & Co. KGaA, 2.05% | 3,560 | 360,030 | ||||||||
Porsche Automobil Holding SE, 2.85% | 3,380 | 234,248 | ||||||||
Sartorius AG, 0.38% | 678 | 124,005 | ||||||||
Volkswagen AG, 2.54% | 3,683 | 639,934 | ||||||||
Total Germany | 1,482,775 | |||||||||
South Korea — 0.2% | ||||||||||
Samsung Electronics Co., Ltd., 3.81% | 12,725 | 405,231 | ||||||||
Total Preferred Stocks | ||||||||||
(Cost $2,050,311) | 1,888,006 | |||||||||
Investment of Cash Collateral For Securities Loaned — 3.6% | ||||||||||
Money Market Fund — 3.6% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(f) | ||||||||||
(Cost $9,981,686) | 9,981,686 | 9,981,686 | ||||||||
Total Investments — 103.5% | ||||||||||
(Cost $311,563,141) | 290,809,683 | |||||||||
Other Assets and Liabilities, Net — (3.5)% | (9,730,778 | ) | ||||||||
Net Assets — 100.0% | $ | 281,078,905 |
* | 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 $10,204,882; total market value of collateral held by the Fund was $10,733,663. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $751,977. |
(b) | These securities are deemed illiquid due to the extended closure of the Japanese market. |
(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, 2019, the value of these securities was $47,468. |
(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. |
(e) | Less than 0.05%. |
(f) | Reflects the 1-day yield at April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF(continued)
April 30, 2019
Purchased Contracts | Settlement Date | Counterparty | Currency Amount Purchased | Value at Settlement Date | Value at April 30, 2019 | Unrealized Appreciation | ||||||||||||||
Australian Dollar | 05/07/19 | Morgan Stanley | 12,848,057 | $ | 9,043,683 | $ | 9,044,786 | $ | 1,103 | |||||||||||
Swiss Franc | 05/07/19 | Morgan Stanley | 12,642,650 | 12,409,065 | 12,415,638 | 6,573 | ||||||||||||||
Danish Krone | 05/07/19 | Morgan Stanley | 15,246,935 | 2,289,584 | 2,290,341 | 757 | ||||||||||||||
Euro | 05/07/19 | Morgan Stanley | 34,344,076 | 38,500,945 | 38,513,545 | 12,600 | ||||||||||||||
British Pound | 05/07/19 | Morgan Stanley | 19,685,732 | 25,647,131 | 25,673,464 | 26,333 | ||||||||||||||
Hong Kong Dollar | 05/07/19 | Morgan Stanley | 41,246,168 | 5,257,398 | 5,257,980 | 582 | ||||||||||||||
Israeli Shekel | 05/07/19 | Morgan Stanley | 2,684,414 | 745,539 | 745,827 | 288 | ||||||||||||||
Japanese Yen | 05/07/19 | Morgan Stanley | 4,193,896,854 | 37,634,719 | 37,678,636 | 43,917 | ||||||||||||||
Norwegian Krone | 05/07/19 | Morgan Stanley | 8,281,508 | 957,748 | 957,960 | 212 | ||||||||||||||
New Zealand Dollar | 05/07/19 | Morgan Stanley | 640,151 | 426,712 | 426,977 | 265 | ||||||||||||||
Polish Zloty | 05/07/19 | Morgan Stanley | 1,689,357 | 441,271 | 441,399 | 128 | ||||||||||||||
Swedish Krona | 05/07/19 | Morgan Stanley | 30,279,298 | 3,185,756 | 3,186,900 | 1,144 | ||||||||||||||
Singapore Dollar | 05/07/19 | Morgan Stanley | 2,341,329 | 1,719,972 | 1,720,251 | 279 | ||||||||||||||
Unrealized Appreciation | $ | 138,259,523 | $ | 138,353,704 | $ | 94,181 |
Sold Contracts | Settlement Date | Counterparty | Currency Amount Sold | Value at Settlement Date | Value at April 30, 2019 | Unrealized Appreciation | ||||||||||||||
Australian Dollar | 05/07/19 | Morgan Stanley | (14,644,858 | ) | $ | (10,408,906 | ) | $ | (10,309,700 | ) | $ | 99,206 | ||||||||
Swiss Franc | 05/07/19 | Morgan Stanley | (12,642,650 | ) | (12,734,625 | ) | (12,415,638 | ) | 318,987 | |||||||||||
Danish Krone | 05/07/19 | Morgan Stanley | (17,375,456 | ) | (2,621,316 | ) | (2,610,080 | ) | 11,236 | |||||||||||
Euro | 05/07/19 | Morgan Stanley | (39,179,611 | ) | (44,115,713 | ) | (43,936,128 | ) | 179,585 | |||||||||||
British Pound | 05/07/19 | Morgan Stanley | (19,685,732 | ) | (25,693,028 | ) | (25,673,464 | ) | 19,564 | |||||||||||
Hong Kong Dollar | 05/07/19 | Morgan Stanley | (46,997,715 | ) | (5,992,830 | ) | (5,991,176 | ) | 1,654 | |||||||||||
Japanese Yen | 05/07/19 | Morgan Stanley | (4,171,421,857 | ) | (37,787,666 | ) | (37,476,717 | ) | 310,949 | |||||||||||
South Korean Won# | 05/07/19 | Morgan Stanley | (8,059,159,550 | ) | (7,091,022 | ) | (6,900,800 | ) | 190,222 | |||||||||||
South Korean Won# | 06/05/19 | Morgan Stanley | (7,338,552,000 | ) | (6,295,944 | ) | (6,290,438 | ) | 5,506 | |||||||||||
Norwegian Krone | 05/07/19 | Morgan Stanley | (9,444,267 | ) | (1,098,055 | ) | (1,092,462 | ) | 5,593 | |||||||||||
New Zealand Dollar | 05/07/19 | Morgan Stanley | (640,151 | ) | (436,838 | ) | (426,976 | ) | 9,862 | |||||||||||
Swedish Krona | 05/07/19 | Morgan Stanley | (34,508,257 | ) | (3,729,730 | ) | (3,631,998 | ) | 97,732 | |||||||||||
Singapore Dollar | 05/07/19 | Morgan Stanley | (2,667,662 | ) | (1,970,371 | ) | (1,960,019 | ) | 10,352 | |||||||||||
Unrealized Appreciation | $ | (159,976,044 | ) | $ | (158,715,596 | ) | $ | 1,260,448 | ||||||||||||
Total Unrealized Appreciation | $ | 1,354,629 |
Purchased Contracts | Settlement Date | Counterparty | Currency Amount Purchased | Value at Settlement Date | Value at April 30, 2019 | Unrealized (Depreciation) | ||||||||||||||
Australian Dollar | 05/07/19 | Morgan Stanley | 1,796,801 | $ | 1,274,729 | $ | 1,264,913 | $ | (9,816 | ) | ||||||||||
Danish Krone | 05/07/19 | Morgan Stanley | 2,128,521 | 319,902 | 319,739 | (163 | ) | |||||||||||||
Euro | 05/07/19 | Morgan Stanley | 4,835,535 | 5,425,609 | 5,422,583 | (3,026 | ) | |||||||||||||
Hong Kong Dollar | 05/07/19 | Morgan Stanley | 5,751,547 | 733,453 | 733,196 | (257 | ) | |||||||||||||
South Korean Won# | 05/07/19 | Morgan Stanley | 8,059,159,550 | 6,925,766 | 6,900,800 | (24,966 | ) | |||||||||||||
Norwegian Krone | 05/07/19 | Morgan Stanley | 1,162,759 | 135,965 | 134,502 | (1,463 | ) | |||||||||||||
Polish Zloty | 05/07/19 | Morgan Stanley | 237,451 | 62,101 | 62,042 | (59 | ) | |||||||||||||
Swedish Krona | 05/07/19 | Morgan Stanley | 4,228,959 | 451,839 | 445,098 | (6,741 | ) | |||||||||||||
Singapore Dollar | 05/07/19 | Morgan Stanley | 326,333 | 240,458 | 239,767 | (691 | ) | |||||||||||||
Unrealized Depreciation | $ | 15,569,822 | $ | 15,522,640 | $ | (47,182 | ) |
Sold Contracts | Settlement Date | Counterparty | Currency Amount Sold | Value at Settlement Date | Value at April 30, 2019 | Unrealized Depreciation | ||||||||||||||
Australian Dollar | 06/04/19 | Morgan Stanley | (13,247,872 | ) | $ | (9,330,106 | ) | $ | (9,332,976 | ) | $ | (2,870 | ) | |||||||
Swiss Franc | 06/04/19 | Morgan Stanley | (11,596,828 | ) | (11,414,335 | ) | (11,420,434 | ) | (6,099 | ) | ||||||||||
Danish Krone | 06/04/19 | Morgan Stanley | (15,357,306 | ) | (2,311,787 | ) | (2,313,178 | ) | (1,391 | ) | ||||||||||
Euro | 06/04/19 | Morgan Stanley | (36,275,812 | ) | (40,761,088 | ) | (40,781,227 | ) | (20,139 | ) | ||||||||||
British Pound | 06/04/19 | Morgan Stanley | (17,831,496 | ) | (23,283,463 | ) | (23,291,494 | ) | (8,031 | ) | ||||||||||
Hong Kong Dollar | 06/04/19 | Morgan Stanley | (41,330,866 | ) | (5,269,708 | ) | (5,271,122 | ) | (1,414 | ) | ||||||||||
Israeli Shekel | 05/07/19 | Morgan Stanley | (2,684,414 | ) | (741,369 | ) | (745,826 | ) | (4,457 | ) |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF(continued)
April 30, 2019
Sold Contracts | Settlement Date | Counterparty | Currency Amount Sold | Value at Settlement Date | Value at April 30, 2019 | Unrealized Depreciation | ||||||||||||||
Israeli Shekel | 06/04/19 | Morgan Stanley | (2,536,664 | ) | $ | (705,762 | ) | $ | (706,132 | ) | $ | (370 | ) | |||||||
Japanese Yen | 05/07/19 | Morgan Stanley | (22,474,997 | ) | (201,428 | ) | (201,919 | ) | (491 | ) | ||||||||||
Japanese Yen | 06/04/19 | Morgan Stanley | (3,753,068,816 | ) | (33,768,144 | ) | (33,799,162 | ) | (31,018 | ) | ||||||||||
Norwegian Krone | 06/04/19 | Morgan Stanley | (8,460,253 | ) | (979,398 | ) | (979,775 | ) | (377 | ) | ||||||||||
New Zealand Dollar | 06/04/19 | Morgan Stanley | (578,059 | ) | (385,654 | ) | (385,773 | ) | (119 | ) | ||||||||||
Polish Zloty | 05/07/19 | Morgan Stanley | (1,926,808 | ) | (503,076 | ) | (503,441 | ) | (365 | ) | ||||||||||
Polish Zloty | 06/04/19 | Morgan Stanley | (1,792,493 | ) | (468,548 | ) | (468,753 | ) | (205 | ) | ||||||||||
Swedish Krona | 06/04/19 | Morgan Stanley | (33,357,625 | ) | (3,517,282 | ) | (3,519,118 | ) | (1,836 | ) | ||||||||||
Singapore Dollar | 06/04/19 | Morgan Stanley | (2,514,617 | ) | (1,847,781 | ) | (1,848,458 | ) | (677 | ) | ||||||||||
Unrealized Depreciation | $ | (135,488,929 | ) | $ | (135,568,788 | ) | $ | (79,859 | ) | |||||||||||
Total Unrealized Depreciation | $ | (127,041) | ||||||||||||||||||
Net Unrealized Appreciation (Depreciation) | $ | 1,227,588 |
# | Non-deliverable forward. |
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(g) | ||||||||||||||||||
Common Stocks | ||||||||||||||||||
Australia | $ | 20,608,303 | $ | — | $ | — | $ | 20,608,303 | ||||||||||
Austria | 667,161 | — | — | 667,161 | ||||||||||||||
Belgium | 2,794,783 | — | — | 2,794,783 | ||||||||||||||
China | 907,304 | — | — | 907,304 | ||||||||||||||
Denmark | 4,603,814 | — | — | 4,603,814 | ||||||||||||||
Finland | 2,675,385 | — | — | 2,675,385 | ||||||||||||||
France | 28,013,051 | — | — | 28,013,051 | ||||||||||||||
Germany | 21,718,624 | — | — | 21,718,624 | ||||||||||||||
Hong Kong | 9,444,433 | — | — | 9,444,433 | ||||||||||||||
Ireland | 1,567,376 | — | — | 1,567,376 | ||||||||||||||
Israel | 1,408,867 | — | — | 1,408,867 | ||||||||||||||
Italy | 5,599,674 | — | — | 5,599,674 | ||||||||||||||
Japan | — | 67,395,175 | — | 67,395,175 | ||||||||||||||
Luxembourg | 685,574 | — | — | 685,574 | ||||||||||||||
Macau | 713,699 | — | — | 713,699 | ||||||||||||||
Netherlands | 11,842,113 | — | — | 11,842,113 | ||||||||||||||
New Zealand | 771,016 | — | — | 771,016 | ||||||||||||||
Norway | 1,859,566 | — | — | 1,859,566 | ||||||||||||||
Poland | 938,582 | — | — | 938,582 | ||||||||||||||
Portugal | 417,728 | — | — | 417,728 | ||||||||||||||
Russia | 208,817 | — | — | 208,817 | ||||||||||||||
Singapore | 3,694,706 | — | — | 3,694,706 | ||||||||||||||
South Africa | 520,718 | — | — | 520,718 | ||||||||||||||
South Korea | 12,159,170 | — | — | 12,159,170 | ||||||||||||||
Spain | 8,067,209 | — | 44,573 | (h) | 8,111,782 | |||||||||||||
Sweden | 7,010,996 | — | — | 7,010,996 | ||||||||||||||
Switzerland | 23,802,434 | — | — | 23,802,434 | ||||||||||||||
United Arab Emirates | 94,842 | — | — | 94,842 | ||||||||||||||
United Kingdom | 38,118,824 | — | 2,895 | (h) | 38,121,719 | |||||||||||||
United States | 582,579 | — | — | 582,579 | ||||||||||||||
Total Common Stocks | 211,497,348 | 67,395,175 | 47,468 | 278,939,991 | ||||||||||||||
Preferred Stocks | ||||||||||||||||||
Germany | 1,482,775 | — | — | 1,482,775 | ||||||||||||||
South Korea | 405,231 | — | — | 405,231 | ||||||||||||||
Total Preferred Stocks | 1,888,006 | — | — | 1,888,006 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 9,981,686 | — | — | 9,981,686 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE International ETF(continued)
April 30, 2019
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Total Investments in Securities | $ | 223,367,040 | $ | 67,395,175 | $ | 47,468 | $ | 290,809,683 | ||||||||||
Other Financial Instruments:(i) | ||||||||||||||||||
Forward Foreign Currency Contracts | — | 1,354,629 | — | 1,354,629 | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 223,367,040 | $ | 68,749,804 | $ | 47,468 | $ | 292,164,312 |
Liability Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(i) | ||||||||||||||||||
Forward Foreign Currency Contracts | $ | — | $ | 127,041 | $ | — | $ | 127,041 |
(g) | For a complete listing of investments and their countries, see the Schedules of Investments. |
(h) | The Level 3 securities, valued in total at $47,468, have been deemed illiquid and have been fair valued in good faith in accordance with procedures established by the Board of Trustees. |
(i) | Reflects the unrealized appreciation (depreciation) of the instruments. |
Investments in Securities | Balance as of April 30, 2018 | 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, 2019 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2019(j) | ||||||||||||||||||||||||||||||
Common Stocks | ||||||||||||||||||||||||||||||||||||||||
Abertis Infraestructuras SA(k) | $ | — | $ | — | $ | 4,261 | $ | (89,507 | ) | $ | 9,931 | $ | (496,097 | ) | $ | 615,985 | $ | — | $ | 44,573 | $ | (89,507 | ) | |||||||||||||||||
Rolls-Royce Holdings PLC — Entitlement(k) | — | — | — | 29 | 2,866 | — | — | — | 2,895 | 29 | ||||||||||||||||||||||||||||||
Rolls-Royce Holdings PLC, Class C | 5,687 | — | (272 | ) | 66 | — | (5,481 | ) | — | — | — | — | ||||||||||||||||||||||||||||
Rights | ||||||||||||||||||||||||||||||||||||||||
Fletcher Building Ltd. | —(l) | — | 11,756 | — | — | (11,756 | ) | — | — | — | — | |||||||||||||||||||||||||||||
Total | $ | 5,687 | $ | — | $ | 15,745 | $ | (89,412 | ) | $ | 12,797 | $ | (513,334 | ) | $ | 615,985 | $ | — | $ | 47,468 | $ | (89,478 | ) |
(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 $ —. |
Security Type | Fair Value | Valuation Technique | Unobservable Inputs | |||||||
Common Stock | $ | 47,468 | Issuer Specific Facts | Company Information |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF
April 30, 2019
Shares | Value | |||||||||
Common Stocks — 98.9% | ||||||||||
Australia — 1.3% | ||||||||||
BHP Group PLC | 2,033 | $ | 47,955 | |||||||
Rio Tinto PLC | 1,085 | 63,156 | ||||||||
Total Australia | 111,111 | |||||||||
Austria — 0.4% | ||||||||||
ANDRITZ AG | 68 | 3,239 | ||||||||
Erste Group Bank AG* | 280 | 11,203 | ||||||||
OMV AG | 137 | 7,331 | ||||||||
Raiffeisen Bank International AG | 124 | 3,303 | ||||||||
Telekom Austria AG* | 133 | 996 | ||||||||
Verbund AG* | 64 | 3,172 | ||||||||
Vienna Insurance Group AG Wiener Versicherung Gruppe | 38 | 1,056 | ||||||||
voestalpine AG | 110 | 3,529 | ||||||||
Total Austria | 33,829 | |||||||||
Belgium — 1.7% | ||||||||||
Ackermans & van Haaren NV | 22 | 3,536 | ||||||||
Ageas | 179 | 9,428 | ||||||||
Anheuser-Busch InBev SA/NV | 753 | 66,886 | ||||||||
bpost SA | 97 | 1,164 | ||||||||
Colruyt SA | 51 | 3,673 | ||||||||
Galapagos NV* | 45 | 5,147 | ||||||||
Groupe Bruxelles Lambert SA | 71 | 6,781 | ||||||||
KBC Group NV | 266 | 19,681 | ||||||||
Proximus SADP | 135 | 3,775 | ||||||||
Sofina SA | 15 | 3,083 | ||||||||
Solvay SA | 67 | 8,046 | ||||||||
Telenet Group Holding NV | 47 | 2,492 | ||||||||
UCB SA | 118 | 9,352 | ||||||||
Umicore SA(a) | 196 | 7,578 | ||||||||
Total Belgium | 150,622 | |||||||||
Chile — 0.0%(b) | ||||||||||
Antofagasta PLC | 334 | 3,954 | ||||||||
Denmark — 2.7% | ||||||||||
Ambu A/S, Class B(a) | 158 | 4,529 | ||||||||
AP Moller — Maersk A/S, Class A | 5 | 6,087 | ||||||||
AP Moller — Maersk A/S, Class B | 6 | 7,811 | ||||||||
Carlsberg A/S, Class B | 103 | 13,294 | ||||||||
Chr Hansen Holding A/S | 94 | 9,581 | ||||||||
Coloplast A/S, Class B | 129 | 13,908 | ||||||||
Danske Bank A/S | 646 | 11,448 | ||||||||
Drilling Co. of 1972 A/S (The)* | 22 | 1,688 | ||||||||
DSV A/S | 173 | 15,971 | ||||||||
Genmab A/S* | 53 | 8,791 | ||||||||
GN Store Nord A/S | 129 | 6,597 | ||||||||
H Lundbeck A/S | 57 | 2,396 | ||||||||
ISS A/S | 178 | 5,531 | ||||||||
Jyske Bank A/S | 62 | 2,495 | ||||||||
Novo Nordisk A/S, Class B | 1,661 | 81,159 | ||||||||
Novozymes A/S, Class B | 201 | 9,360 | ||||||||
Orsted A/S‡ | 146 | 11,169 | ||||||||
Pandora A/S | 97 | 4,065 | ||||||||
Rockwool International A/S, Class B | 6 | 1,601 | ||||||||
Tryg A/S | 117 | 3,572 | ||||||||
Vestas Wind Systems A/S | 195 | 17,622 | ||||||||
William Demant Holding A/S*(a) | 106 | 3,342 | ||||||||
Total Denmark | 242,017 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Finland — 1.9% | ||||||||||
Elisa OYJ | 137 | $ | 5,808 | |||||||
Fortum OYJ | 412 | 8,699 | ||||||||
Huhtamaki OYJ(a) | 90 | 3,430 | ||||||||
Kesko OYJ, Class B | 66 | 3,425 | ||||||||
Kone OYJ, Class B | 381 | 20,863 | ||||||||
Metso OYJ(a) | 103 | 3,834 | ||||||||
Neste OYJ | 402 | 13,263 | ||||||||
Nokia OYJ | 5,465 | 28,657 | ||||||||
Nokian Renkaat OYJ | 130 | 4,345 | ||||||||
Nordea Bank Abp* | 3,104 | 25,074 | ||||||||
Orion OYJ, Class B(a) | 98 | 3,254 | ||||||||
Sampo OYJ, Class A | 479 | 21,881 | ||||||||
Stora Enso OYJ, Class R | 540 | 6,696 | ||||||||
UPM-Kymmene OYJ | 521 | 14,661 | ||||||||
Wartsila OYJ Abp | 438 | 6,980 | ||||||||
Total Finland | 170,870 | |||||||||
France — 16.8% | ||||||||||
Accor SA | 192 | 8,082 | ||||||||
Adevinta ASA, Class A* | 76 | 765 | ||||||||
Adevinta ASA, Class B* | 123 | 1,207 | ||||||||
Aeroports de Paris | 27 | 5,495 | ||||||||
Air France-KLM* | 208 | 2,401 | ||||||||
Air Liquide SA | 410 | 54,472 | ||||||||
Airbus SE | 537 | 73,349 | ||||||||
ALD SA‡ | 78 | 1,145 | ||||||||
Alstom SA | 147 | 6,458 | ||||||||
Amundi SA‡ | 55 | 3,948 | ||||||||
Arkema SA | 70 | 7,175 | ||||||||
Atos SE | 89 | 9,154 | ||||||||
AXA SA(a) | 1,878 | 49,975 | ||||||||
BioMerieux | 39 | 3,092 | ||||||||
BNP Paribas SA | 1,057 | 56,208 | ||||||||
Bollore SA | 948 | 4,500 | ||||||||
Bouygues SA(a) | 203 | 7,630 | ||||||||
Bureau Veritas SA | 266 | 6,731 | ||||||||
Capgemini SE | 153 | 18,536 | ||||||||
Carrefour SA | 545 | 10,609 | ||||||||
Casino Guichard Perrachon SA(a) | 52 | 2,127 | ||||||||
Cie de Saint-Gobain | 470 | 19,194 | ||||||||
Cie Generale des Etablissements Michelin | 172 | 22,196 | ||||||||
Cie Plastic Omnium SA | 54 | 1,633 | ||||||||
CNP Assurances | 153 | 3,608 | ||||||||
Covivio | 42 | 4,542 | ||||||||
Credit Agricole SA | 1,113 | 15,255 | ||||||||
Danone SA | 584 | 47,176 | ||||||||
Dassault Aviation SA | 2 | 3,024 | ||||||||
Dassault Systemes SE | 129 | 20,392 | ||||||||
Edenred | 232 | 10,923 | ||||||||
Eiffage SA | 73 | 7,617 | ||||||||
Electricite de France SA | 480 | 6,907 | ||||||||
Elis SA | 183 | 3,261 | ||||||||
Engie SA | 1,602 | 23,708 | ||||||||
EssilorLuxottica SA* | 283 | 34,412 | ||||||||
Eurazeo SE* | 46 | 3,606 | ||||||||
Eutelsat Communications SA | 177 | 3,192 | ||||||||
Faurecia SA | 70 | 3,552 | ||||||||
Gecina SA | 51 | 7,607 | ||||||||
Getlink SE | 434 | 6,980 | ||||||||
Hermes International | 30 | 21,087 | ||||||||
ICADE | 30 | 2,562 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
France (continued) | ||||||||||
Iliad SA | 22 | $ | 2,236 | |||||||
Imerys SA | 35 | 1,862 | ||||||||
Ingenico Group SA | 60 | 5,054 | ||||||||
Ipsen SA | 34 | 3,967 | ||||||||
JCDecaux SA | 70 | 2,291 | ||||||||
Kering SA | 72 | 42,524 | ||||||||
Klepierre SA | 193 | 6,850 | ||||||||
Lagardere SCA | 112 | 3,045 | ||||||||
Legrand SA | 260 | 19,091 | ||||||||
L’Oreal SA(a) | 235 | 64,551 | ||||||||
LVMH Moet Hennessy Louis Vuitton SE | 243 | 95,057 | ||||||||
Natixis SA | 804 | 4,729 | ||||||||
Orange SA | 1,875 | 29,345 | ||||||||
Orpea | 44 | 5,360 | ||||||||
Pernod Ricard SA | 207 | 36,039 | ||||||||
Peugeot SA | 531 | 13,901 | ||||||||
Publicis Groupe SA | 205 | 12,149 | ||||||||
Remy Cointreau SA | 23 | 3,062 | ||||||||
Renault SA | 178 | 12,133 | ||||||||
Rexel SA | 291 | 3,907 | ||||||||
Rubis SCA(a) | 88 | 4,813 | ||||||||
Safran SA | 319 | �� | 46,440 | |||||||
Sanofi(a) | 1,060 | 92,054 | ||||||||
Sartorius Stedim Biotech | 22 | 2,983 | ||||||||
Schneider Electric SE | 500 | 42,284 | ||||||||
SCOR SE(a) | 149 | 6,071 | ||||||||
SEB SA | 26 | 4,755 | ||||||||
Societe BIC SA | 24 | 2,067 | ||||||||
Societe Generale SA | 706 | 22,328 | ||||||||
Sodexo SA | 83 | 9,511 | ||||||||
Suez | 353 | 4,955 | ||||||||
Teleperformance* | 55 | 10,559 | ||||||||
Thales SA | 97 | 11,572 | ||||||||
TOTAL SA | 2,430 | 134,926 | ||||||||
Ubisoft Entertainment SA* | 81 | 7,720 | ||||||||
Unibail-Rodamco-Westfield | 132 | 22,671 | ||||||||
Valeo SA(a) | 228 | 8,271 | ||||||||
Veolia Environnement SA | 480 | 11,329 | ||||||||
Vinci SA | 454 | 45,802 | ||||||||
Vivendi SA | 937 | 27,166 | ||||||||
Wendel SA | 27 | 3,734 | ||||||||
Worldline SA‡*(a) | 39 | 2,454 | ||||||||
Total France | 1,497,111 | |||||||||
Germany — 13.2% | ||||||||||
1&1 Drillisch AG(a) | 45 | 1,676 | ||||||||
adidas AG | 185 | 47,499 | ||||||||
Allianz SE | 412 | 99,179 | ||||||||
Aroundtown SA | 636 | 5,150 | ||||||||
Axel Springer SE | 43 | 2,434 | ||||||||
BASF SE | 895 | 72,709 | ||||||||
Bayer AG | 912 | 60,650 | ||||||||
Bayerische Motoren Werke AG | 314 | 26,709 | ||||||||
Beiersdorf AG | 97 | 10,592 | ||||||||
Brenntag AG | 148 | 7,971 | ||||||||
Carl Zeiss Meditec AG | 35 | 3,434 | ||||||||
CECONOMY AG* | 157 | 1,052 | ||||||||
Commerzbank AG* | 1,002 | 8,997 | ||||||||
Continental AG | 106 | 17,506 | ||||||||
Covestro AG‡ | 167 | 9,124 | ||||||||
Daimler AG* | 841 | 54,986 | ||||||||
Delivery Hero SE‡* | 103 | 4,743 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Germany (continued) | ||||||||||
Deutsche Bank AG | 2,000 | $ | 16,517 | |||||||
Deutsche Boerse AG | 180 | 23,985 | ||||||||
Deutsche Lufthansa AG | 228 | 5,499 | ||||||||
Deutsche Post AG* | 949 | 32,864 | ||||||||
Deutsche Telekom AG | 3,156 | 52,750 | ||||||||
Deutsche Wohnen SE | 343 | 15,403 | ||||||||
DWS Group GmbH & Co. KGaA‡* | 32 | 1,175 | ||||||||
E.ON SE | 2,120 | 22,732 | ||||||||
Evonik Industries AG | 157 | 4,673 | ||||||||
Fielmann AG | 23 | 1,632 | ||||||||
Fraport AG Frankfurt Airport Services Worldwide | 34 | 2,814 | ||||||||
Fresenius Medical Care AG & Co. KGaA | 208 | 17,474 | ||||||||
Fresenius SE & Co. KGaA | 396 | 22,447 | ||||||||
FUCHS PETROLUB SE | 32 | 1,273 | ||||||||
GEA Group AG | 160 | 4,468 | ||||||||
GRENKE AG | 25 | 2,652 | ||||||||
Hannover Rueck SE | 58 | 8,736 | ||||||||
Hapag-Lloyd AG‡ | 25 | 769 | ||||||||
HeidelbergCement AG | 143 | 11,539 | ||||||||
Hella GmbH & Co. KGaA | 43 | 2,335 | ||||||||
Henkel AG & Co. KGaA | 98 | 9,330 | ||||||||
HOCHTIEF AG | 19 | 2,832 | ||||||||
HUGO BOSS AG | 62 | 4,319 | ||||||||
Infineon Technologies AG | 1,106 | 26,060 | ||||||||
Innogy SE‡* | 121 | 5,613 | ||||||||
K+S AG | 185 | 3,749 | ||||||||
KION Group AG | 67 | 4,583 | ||||||||
Knorr-Bremse AG* | 46 | 4,983 | ||||||||
LANXESS AG | 88 | 5,079 | ||||||||
LEG Immobilien AG | 62 | 7,209 | ||||||||
Merck KGaA | 125 | 13,291 | ||||||||
METRO AG | 164 | 2,775 | ||||||||
MTU Aero Engines AG | 50 | 11,751 | ||||||||
Muenchener Rueckversicherungs-Gesellschaft AG* | 146 | 36,488 | ||||||||
OSRAM Licht AG(a) | 85 | 2,904 | ||||||||
ProSiebenSat.1 Media SE | 220 | 3,460 | ||||||||
Puma SE | 8 | 4,945 | ||||||||
Rational AG | 4 | 2,699 | ||||||||
Rheinmetall AG | 42 | 4,815 | ||||||||
Rocket Internet SE‡* | 61 | 1,607 | ||||||||
RWE AG* | 522 | 13,321 | ||||||||
SAP SE | 947 | 121,604 | ||||||||
Scout24 AG‡(a) | 103 | 5,298 | ||||||||
Siemens AG | 750 | 89,718 | ||||||||
Siemens Healthineers AG‡ | 124 | 5,284 | ||||||||
Suedzucker AG(a) | 76 | 1,167 | ||||||||
Symrise AG | 121 | 11,621 | ||||||||
Talanx AG | 37 | 1,477 | ||||||||
Telefonica Deutschland Holding AG | 647 | 2,100 | ||||||||
thyssenkrupp AG(a) | 448 | 6,293 | ||||||||
TUI AG | 418 | 4,653 | ||||||||
Uniper SE | 188 | 5,691 | ||||||||
United Internet AG | 111 | 4,445 | ||||||||
Volkswagen AG | 31 | 5,538 | ||||||||
Vonovia SE | 507 | 25,268 | ||||||||
Wacker Chemie AG | 14 | 1,224 | ||||||||
Wirecard AG(a) | 112 | 16,782 | ||||||||
Zalando SE‡* | 130 | 6,110 | ||||||||
Total Germany | 1,172,234 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Ireland — 0.9% | ||||||||||
AIB Group PLC(a) | 756 | $ | 3,506 | |||||||
Bank of Ireland Group PLC* | 885 | 5,643 | ||||||||
CRH PLC | 801 | 26,732 | ||||||||
Glanbia PLC | 190 | 3,499 | ||||||||
Kerry Group PLC, Class A | 142 | 15,882 | ||||||||
Kingspan Group PLC | 144 | 7,566 | ||||||||
Paddy Power Betfair PLC | 76 | 6,428 | ||||||||
Smurfit Kappa Group PLC | 228 | 6,673 | ||||||||
Total Ireland | 75,929 | |||||||||
Italy — 3.5% | ||||||||||
A2A SpA | 1,495 | 2,496 | ||||||||
Assicurazioni Generali SpA | 1,267 | 24,565 | ||||||||
Atlantia SpA | 520 | 14,173 | ||||||||
Banca Mediolanum SpA | 277 | 2,032 | ||||||||
Banco BPM SpA* | 1,468 | 3,488 | ||||||||
Buzzi Unicem SpA | 69 | 1,533 | ||||||||
Buzzi Unicem SpA-RSP | 40 | 609 | ||||||||
Davide Campari-Milano SpA | 548 | 5,518 | ||||||||
DiaSorin SpA | 21 | 2,050 | ||||||||
Enel SpA | 7,601 | 48,035 | ||||||||
Eni SpA | 2,446 | 41,716 | ||||||||
Ferrari NV | 123 | 16,645 | ||||||||
FinecoBank Banca Fineco SpA | 379 | 4,984 | ||||||||
Hera SpA | 769 | 2,735 | ||||||||
Intesa Sanpaolo SpA | 14,760 | 38,658 | ||||||||
Italgas SpA | 473 | 2,947 | ||||||||
Leonardo SpA | 372 | 4,292 | ||||||||
Mediaset SpA*(a) | 291 | 967 | ||||||||
Mediobanca Banca di Credito Finanziario SpA | 699 | 7,403 | ||||||||
Moncler SpA | 177 | 7,254 | ||||||||
Pirelli & C SpA‡* | 417 | 3,041 | ||||||||
Poste Italiane SpA‡ | 444 | 4,732 | ||||||||
Prysmian SpA* | 252 | 4,855 | ||||||||
Recordati SpA | 93 | 3,751 | ||||||||
Saipem SpA* | 528 | 2,673 | ||||||||
Salvatore Ferragamo SpA | 65 | 1,470 | ||||||||
Snam SpA | 2,216 | 11,268 | ||||||||
Telecom Italia SpA* | 10,370 | 5,795 | ||||||||
Telecom Italia SpA-RSP | 5,839 | 3,042 | ||||||||
Terna Rete Elettrica Nazionale SpA | 1,360 | 8,136 | ||||||||
UniCredit SpA | 2,182 | 30,151 | ||||||||
Unione di Banche Italiane SpA | 983 | 3,063 | ||||||||
UnipolSai Assicurazioni SpA(a) | 553 | 1,513 | ||||||||
Total Italy | 315,590 | |||||||||
Jordan — 0.0%(b) | ||||||||||
Hikma Pharmaceuticals PLC | 136 | 3,130 | ||||||||
Kazakhstan — 0.0%(b) | ||||||||||
KAZ Minerals PLC | 227 | 1,913 | ||||||||
Luxembourg — 0.4% | ||||||||||
ArcelorMittal | 590 | 12,780 | ||||||||
Eurofins Scientific SE(a) | 11 | 5,030 | ||||||||
RTL Group SA(a) | 36 | 2,021 | ||||||||
SES SA | 337 | 5,730 | ||||||||
Tenaris SA | 451 | 6,257 | ||||||||
Total Luxembourg | 31,818 | |||||||||
Mexico — 0.0%(b) | ||||||||||
Fresnillo PLC(a) | 179 | 1,747 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Netherlands —7.0% | ||||||||||
Aalberts NV | 93 | $ | 3,648 | |||||||
ABN AMRO Group NV‡(a) | 396 | 9,306 | ||||||||
Adyen NV‡* | 8 | 6,505 | ||||||||
Aegon NV | 1,688 | 8,808 | ||||||||
Akzo Nobel NV | 223 | 18,919 | ||||||||
Altice Europe NV* | 539 | 1,703 | ||||||||
Altice Europe NV, Class B* | 55 | 173 | ||||||||
ASML Holding NV(a) | 390 | 81,095 | ||||||||
ASR Nederland NV | 127 | 5,636 | ||||||||
Boskalis Westminster NV | 77 | 2,105 | ||||||||
EXOR NV | 102 | 6,786 | ||||||||
GrandVision NV‡ | 48 | 1,079 | ||||||||
Heineken Holding NV | 101 | 10,249 | ||||||||
Heineken NV | 231 | 24,915 | ||||||||
ING Groep NV(a) | 3,806 | 48,438 | ||||||||
Koninklijke Ahold Delhaize NV | 1,060 | 25,493 | ||||||||
Koninklijke DSM NV | 171 | 19,519 | ||||||||
Koninklijke KPN NV | 3,233 | 9,913 | ||||||||
Koninklijke Philips NV | 891 | 37,910 | ||||||||
Koninklijke Vopak NV | 64 | 2,851 | ||||||||
NN Group NV | 333 | 14,487 | ||||||||
OCI NV* | 94 | 2,723 | ||||||||
Randstad NV | 105 | 5,992 | ||||||||
Royal Dutch Shell PLC, Class A | 4,356 | 139,128 | ||||||||
Royal Dutch Shell PLC, Class B | 3,664 | 117,719 | ||||||||
Signify NV‡ | 103 | 3,086 | ||||||||
Wolters Kluwer NV | 260 | 18,118 | ||||||||
Total Netherlands | 626,304 | |||||||||
Norway — 1.1% | ||||||||||
Aker ASA, Class A | 22 | 1,501 | ||||||||
Aker BP ASA | 103 | 3,389 | ||||||||
DNB ASA* | 1,036 | 19,845 | ||||||||
Equinor ASA | 962 | 21,409 | ||||||||
Gjensidige Forsikring ASA | 161 | 3,120 | ||||||||
Leroy Seafood Group ASA | 246 | 1,773 | ||||||||
Mowi ASA | 408 | 8,818 | ||||||||
Norsk Hydro ASA | 1,286 | 5,496 | ||||||||
Orkla ASA | 730 | 5,710 | ||||||||
Salmar ASA | 50 | 2,267 | ||||||||
Schibsted ASA, Class A | 76 | 1,990 | ||||||||
Schibsted ASA, Class B | 93 | 2,220 | ||||||||
Telenor ASA | 651 | 13,039 | ||||||||
Yara International ASA | 168 | 7,559 | ||||||||
Total Norway | 98,136 | |||||||||
Poland — 0.6% | ||||||||||
Bank Polska Kasa Opieki SA | 149 | 4,426 | ||||||||
CD Projekt SA* | 59 | 3,312 | ||||||||
Cyfrowy Polsat SA* | 256 | 1,772 | ||||||||
Dino Polska SA‡* | 46 | 1,526 | ||||||||
Grupa Lotos SA | 93 | 2,020 | ||||||||
KGHM Polska Miedz SA* | 130 | 3,493 | ||||||||
LPP SA | 1 | 2,237 | ||||||||
mBank SA | 13 | 1,504 | ||||||||
PGE Polska Grupa Energetyczna SA* | 698 | 1,736 | ||||||||
Polski Koncern Naftowy ORLEN SA | 296 | 7,571 | ||||||||
Polskie Gornictwo Naftowe I Gazownictwo SA | 1,659 | 2,514 | ||||||||
Powszechna Kasa Oszczednosci Bank Polski SA | 813 | 8,334 | ||||||||
Powszechny Zaklad Ubezpieczen SA | 534 | 5,859 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Poland (continued) | ||||||||||
Santander Bank Polska SA | 29 | $ | 3,006 | |||||||
Total Poland | 49,310 | |||||||||
Portugal — 0.2% | ||||||||||
EDP —Energias de Portugal SA* | 2,183 | 8,267 | ||||||||
Galp Energia SGPS SA | 496 | 8,321 | ||||||||
Jeronimo Martins SGPS SA | 236 | 3,840 | ||||||||
Total Portugal | 20,428 | |||||||||
Russia — 0.1% | ||||||||||
Evraz PLC | 489 | 4,001 | ||||||||
Polymetal International PLC | 269 | 2,829 | ||||||||
VEON Ltd. | 634 | 1,513 | ||||||||
Total Russia | 8,343 | |||||||||
South Africa — 0.3% | ||||||||||
Anglo American PLC | 965 | 24,927 | ||||||||
Investec PLC | 618 | 3,907 | ||||||||
Total South Africa | 28,834 | |||||||||
Spain — 4.8% | ||||||||||
Acciona SA | 21 | 2,431 | ||||||||
Acerinox SA | 166 | 1,725 | ||||||||
ACS Actividades de Construccion y Servicios SA | 241 | 11,055 | ||||||||
Aena SME SA‡ | 61 | 11,304 | ||||||||
Amadeus IT Group SA | 404 | 32,110 | ||||||||
Banco Bilbao Vizcaya Argentaria SA | 6,507 | 39,510 | ||||||||
Banco de Sabadell SA(a) | 5,411 | 6,282 | ||||||||
Banco Santander SA(a) | 15,715 | 79,456 | ||||||||
Bankia SA | 1,169 | 3,229 | ||||||||
Bankinter SA | 659 | 5,257 | ||||||||
CaixaBank SA | 3,509 | 11,164 | ||||||||
Cellnex Telecom SA‡* | 201 | 6,177 | ||||||||
Corp. Financiera Alba SA | 20 | 1,029 | ||||||||
EDP Renovaveis SA* | 147 | 1,458 | ||||||||
Enagas SA | 219 | 6,234 | ||||||||
Endesa SA | 305 | 7,592 | ||||||||
Ferrovial SA | 466 | 11,469 | ||||||||
Fomento de Construcciones y Contratas SA* | 66 | 808 | ||||||||
Grifols SA | 316 | 8,761 | ||||||||
Iberdrola SA | 5,985 | 54,316 | ||||||||
Industria de Diseno Textil SA(a) | 1,027 | 31,041 | ||||||||
Inmobiliaria Colonial Socimi SA | 293 | 3,151 | ||||||||
Mapfre SA | 957 | 2,869 | ||||||||
Merlin Properties Socimi SA | 323 | 4,398 | ||||||||
Naturgy Energy Group SA | 298 | 8,456 | ||||||||
Red Electrica Corp. SA | 412 | 8,535 | ||||||||
Repsol SA | 1,324 | 22,450 | ||||||||
Siemens Gamesa Renewable Energy SA | 217 | 3,889 | ||||||||
Telefonica SA | 4,436 | 36,948 | ||||||||
Zardoya Otis SA | 173 | 1,396 | ||||||||
Total Spain | 424,500 | |||||||||
Sweden — 4.2% | ||||||||||
Alfa Laval AB(a) | 301 | 6,978 | ||||||||
Assa Abloy AB, B Shares(a) | 882 | 18,796 | ||||||||
Atlas Copco AB, A Shares(a) | 607 | 18,848 | ||||||||
Atlas Copco AB, B Shares(a) | 361 | 10,264 | ||||||||
Boliden AB*(a) | 264 | 7,831 | ||||||||
Castellum AB | 259 | 4,652 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Sweden (continued) | ||||||||||
Electrolux AB | 229 | $ | 5,620 | |||||||
Elekta AB, B Shares | 346 | 4,095 | ||||||||
Epiroc AB, A Shares* | 600 | 6,198 | ||||||||
Epiroc AB, B Shares* | 363 | 3,587 | ||||||||
Essity AB, B Shares | 587 | 17,400 | ||||||||
Fastighets AB Balder, B Shares* | 93 | 2,937 | ||||||||
Hennes & Mauritz AB, B Shares(a) | 838 | 14,596 | ||||||||
Hexagon AB, B Shares | 238 | 12,968 | ||||||||
Husqvarna AB, B Shares | 387 | 3,528 | ||||||||
ICA Gruppen AB | 76 | 2,746 | ||||||||
Industrivarden AB, A Shares | 201 | 4,647 | ||||||||
Industrivarden AB, C Shares | 161 | 3,617 | ||||||||
Investment AB Latour, B Shares(a) | 117 | 1,655 | ||||||||
Investor AB, A Shares | 128 | 6,072 | ||||||||
Investor AB, B Shares | 434 | 20,667 | ||||||||
Kinnevik AB, B Shares(a) | 230 | 6,689 | ||||||||
L E Lundbergforetagen AB, B Shares | 72 | 2,458 | ||||||||
Lundin Petroleum AB | 167 | 5,460 | ||||||||
Nibe Industrier AB, B Shares | 290 | 3,892 | ||||||||
Saab AB, B Shares | 90 | 2,958 | ||||||||
Sandvik AB(a) | 1,041 | 19,234 | ||||||||
Securitas AB, B Shares | 298 | 5,203 | ||||||||
Skandinaviska Enskilda Banken AB, A Shares | 1,372 | 13,078 | ||||||||
Skandinaviska Enskilda Banken AB, C Shares | 20 | 194 | ||||||||
Skanska AB, B Shares | 342 | 5,947 | ||||||||
SKF AB, B Shares | 366 | 6,766 | ||||||||
Svenska Cellulosa AB SCA, A Shares | 21 | 205 | ||||||||
Svenska Cellulosa AB SCA, B Shares | 571 | 4,974 | ||||||||
Svenska Handelsbanken AB, A Shares(a) | 1,393 | 15,188 | ||||||||
Svenska Handelsbanken AB, B Shares | 34 | 369 | ||||||||
Swedbank AB, A Shares | 956 | 15,491 | ||||||||
Swedish Match AB | 164 | 7,980 | ||||||||
Swedish Orphan Biovitrum AB* | 169 | 3,075 | ||||||||
Tele2 AB, B Shares | 508 | 6,770 | ||||||||
Telefonaktiebolaget LM Ericsson, A Shares | 35 | 348 | ||||||||
Telefonaktiebolaget LM Ericsson,B Shares | 2,854 | 28,219 | ||||||||
Telia Co. AB | 2,563 | 10,903 | ||||||||
Trelleborg AB, B Shares | 235 | 3,881 | ||||||||
Volvo AB, B Shares | 1,436 | 22,960 | ||||||||
Total Sweden | 369,944 | |||||||||
Switzerland — 14.2% | ||||||||||
ABB Ltd.* | 1,742 | 35,849 | ||||||||
Adecco Group AG | 147 | 8,442 | ||||||||
Alcon, Inc.* | 426 | 24,532 | ||||||||
Baloise Holding AG | 45 | 7,710 | ||||||||
Banque Cantonale Vaudoise* | 3 | 2,367 | ||||||||
Barry Callebaut AG | 2 | 3,662 | ||||||||
Chocoladefabriken Lindt & Spruengli AG | 1 | 6,649 | ||||||||
Cie Financiere Richemont SA | 498 | 36,409 | ||||||||
Clariant AG* | 193 | 3,966 | ||||||||
Coca-Cola HBC AG* | 190 | 6,789 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Switzerland (continued) | ||||||||||
Credit Suisse Group AG* | 2,483 | $ | 33,139 | |||||||
DKSH Holding AG | 25 | 1,535 | ||||||||
Dufry AG* | 29 | 2,833 | ||||||||
EMS-Chemie Holding AG | 7 | 4,238 | ||||||||
Flughafen Zurich AG | 18 | 2,964 | ||||||||
Geberit AG | 35 | 14,677 | ||||||||
Georg Fischer AG | 5 | 4,858 | ||||||||
Givaudan SA | 9 | 23,308 | ||||||||
Glencore PLC* | 11,032 | 43,771 | ||||||||
Helvetia Holding AG* | 6 | 3,813 | ||||||||
Julius Baer Group Ltd.* | 209 | 10,075 | ||||||||
Kuehne + Nagel International AG | 49 | 7,119 | ||||||||
LafargeHolcim Ltd.* | 463 | 23,800 | ||||||||
Logitech International SA | 138 | 5,395 | ||||||||
Lonza Group AG* | 72 | 22,236 | ||||||||
Mediclinic International PLC | 381 | 1,704 | ||||||||
Nestle SA | 2,943 | 283,181 | ||||||||
Novartis AG | 2,128 | 173,769 | ||||||||
OC Oerlikon Corp. AG | 182 | 2,375 | ||||||||
Pargesa Holding SA | 37 | 2,912 | ||||||||
Partners Group Holding AG | 16 | 12,053 | ||||||||
PSP Swiss Property AG | 38 | 3,878 | ||||||||
Roche Holding AG | 679 | 178,979 | ||||||||
Roche Holding AG | 26 | 6,802 | ||||||||
Schindler Holding AG | 40 | 8,628 | ||||||||
Schindler Holding AG — Registered | 18 | 3,823 | ||||||||
SGS SA | 5 | 13,194 | ||||||||
Sika AG | 136 | 20,820 | ||||||||
Sonova Holding AG | 49 | 9,882 | ||||||||
STMicroelectronics NV | 611 | 11,213 | ||||||||
Straumann Holding AG | 10 | 8,073 | ||||||||
Sulzer AG | 17 | 1,790 | ||||||||
Swatch Group AG (The) — Bearer | 29 | 8,856 | ||||||||
Swatch Group AG (The) —Registered | 42 | 2,465 | ||||||||
Swiss Life Holding AG* | 33 | 15,515 | ||||||||
Swiss Prime Site AG* | 73 | 5,860 | ||||||||
Swiss Re AG | 297 | 28,581 | ||||||||
Swisscom AG | 25 | 11,646 | ||||||||
Temenos AG* | 57 | 9,476 | ||||||||
UBS Group AG* | 3,383 | 45,367 | ||||||||
Vifor Pharma AG | 42 | 5,490 | ||||||||
Zurich Insurance Group AG | 147 | 46,870 | ||||||||
Total Switzerland | 1,263,338 | |||||||||
United Arab Emirates — 0.0%(b) | ||||||||||
NMC Health PLC | 83 | 3,053 | ||||||||
United Kingdom — 23.2% | ||||||||||
3i Group PLC | 931 | 12,993 | ||||||||
Admiral Group PLC | 196 | 5,632 | ||||||||
Ashmore Group PLC(a) | 372 | 2,226 | ||||||||
Ashtead Group PLC | 457 | 12,642 | ||||||||
Associated British Foods PLC | 340 | 11,343 | ||||||||
AstraZeneca PLC | 1,282 | 95,697 | ||||||||
Auto Trader Group PLC‡ | 897 | 6,612 | ||||||||
AVEVA Group PLC | 59 | 2,572 | ||||||||
Aviva PLC | 3,831 | 21,450 | ||||||||
B&M European Value Retail SA | 821 | 4,222 | ||||||||
Babcock International Group PLC | 247 | 1,691 | ||||||||
BAE Systems PLC | 3,120 | 20,093 | ||||||||
Barclays PLC | 16,670 | 35,701 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
United Kingdom (continued) | ||||||||||
Barratt Developments PLC | 969 | $ | 7,602 | |||||||
Bellway PLC | 119 | 4,828 | ||||||||
Berkeley Group Holdings PLC | 114 | 5,582 | ||||||||
BP PLC | 19,392 | 141,317 | ||||||||
British American Tobacco PLC | 2,231 | 86,962 | ||||||||
British Land Co. PLC (The) | 925 | 7,163 | ||||||||
BT Group PLC | 8,154 | 24,348 | ||||||||
Bunzl PLC | 328 | 9,873 | ||||||||
Burberry Group PLC | 391 | 10,281 | ||||||||
Capital & Counties Properties PLC | 711 | 2,244 | ||||||||
Centrica PLC | 5,469 | 7,575 | ||||||||
Cineworld Group PLC | 970 | 4,021 | ||||||||
CNH Industrial NV(a) | 971 | 10,521 | ||||||||
Cobham PLC* | 2,316 | 3,481 | ||||||||
Compass Group PLC | 1,546 | 35,129 | ||||||||
ConvaTec Group PLC‡ | 1,410 | 2,547 | ||||||||
Croda International PLC | 124 | 8,375 | ||||||||
CYBG PLC | 1,183 | 3,134 | ||||||||
DCC PLC | 94 | 8,392 | ||||||||
Derwent London PLC | 96 | 3,967 | ||||||||
Diageo PLC | 2,319 | 97,754 | ||||||||
Direct Line Insurance Group PLC | 1,325 | 5,690 | ||||||||
DS Smith PLC | 1,225 | 5,701 | ||||||||
easyJet PLC | 210 | 3,185 | ||||||||
Experian PLC | 895 | 25,961 | ||||||||
Fiat Chrysler Automobiles NV | 1,076 | 16,561 | ||||||||
G4S PLC | 1,498 | 4,222 | ||||||||
GlaxoSmithKline PLC | 4,764 | 97,717 | ||||||||
GVC Holdings PLC | 553 | 4,706 | ||||||||
Halma PLC | 364 | 8,539 | ||||||||
Hammerson PLC | 751 | 3,152 | ||||||||
Hargreaves Lansdown PLC(a) | 254 | 7,474 | ||||||||
Hiscox Ltd. | 267 | 5,827 | ||||||||
Howden Joinery Group PLC | 567 | 3,755 | ||||||||
HSBC Holdings PLC | 19,645 | 170,846 | ||||||||
IMI PLC | 258 | 3,533 | ||||||||
Imperial Brands PLC | 928 | 29,470 | ||||||||
Inchcape PLC | 390 | 3,124 | ||||||||
Informa PLC | 1,217 | 12,359 | ||||||||
InterContinental Hotels Group PLC | 174 | 11,269 | ||||||||
International Consolidated Airlines Group SA | 947 | 6,672 | ||||||||
Intertek Group PLC | 156 | 10,880 | ||||||||
Intu Properties PLC(a) | 861 | 1,058 | ||||||||
ITV PLC | 3,591 | 6,397 | ||||||||
J Sainsbury PLC | 1,558 | 4,519 | ||||||||
JD Sports Fashion PLC | 338 | 2,773 | ||||||||
John Wood Group PLC(a) | 634 | 3,889 | ||||||||
Johnson Matthey PLC | 184 | 8,005 | ||||||||
Just Eat PLC* | 556 | 5,067 | ||||||||
Kingfisher PLC | 2,073 | 7,137 | ||||||||
Land Securities Group PLC | 687 | 8,266 | ||||||||
Legal & General Group PLC | 5,785 | 20,981 | ||||||||
Lloyds Banking Group PLC | 69,433 | 56,636 | ||||||||
London Stock Exchange Group PLC | 305 | 19,936 | ||||||||
Marks & Spencer Group PLC | 1,566 | 5,837 | ||||||||
Meggitt PLC | 746 | 5,294 | ||||||||
Melrose Industries PLC | 4,703 | 12,397 | ||||||||
Merlin Entertainments PLC‡ | 682 | 3,256 | ||||||||
Micro Focus International PLC | 330 | 8,337 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
United Kingdom (continued) | ||||||||||
Mondi PLC | 350 | $ | 7,668 | |||||||
National Grid PLC | 3,320 | 36,187 | ||||||||
Next PLC | 128 | 9,622 | ||||||||
Ocado Group PLC* | 435 | 7,727 | ||||||||
Pearson PLC | 744 | 8,052 | ||||||||
Pennon Group PLC | 403 | 3,933 | ||||||||
Persimmon PLC | 301 | 8,774 | ||||||||
Phoenix Group Holdings PLC | 502 | 4,728 | ||||||||
Prudential PLC | 2,533 | 57,292 | ||||||||
Quilter PLC‡ | 1,757 | 3,380 | ||||||||
Reckitt Benckiser Group PLC | 612 | 49,442 | ||||||||
RELX PLC | 1,839 | 42,171 | ||||||||
Renishaw PLC | 31 | 1,823 | ||||||||
Rentokil Initial PLC | 1,777 | 9,035 | ||||||||
Rightmove PLC | 848 | 5,976 | ||||||||
Rolls-Royce Holdings PLC* | 1,645 | 19,614 | ||||||||
Rolls-Royce Holdings PLC —Entitlement*(c)(d) | 114,807 | 150 | ||||||||
Royal Bank of Scotland Group PLC | 4,416 | 13,794 | ||||||||
Royal Mail PLC | 886 | 2,920 | ||||||||
RPC Group PLC | 385 | 3,960 | ||||||||
RSA Insurance Group PLC | 987 | 6,974 | ||||||||
Sage Group PLC (The) | 1,045 | 9,882 | ||||||||
Schroders PLC | 108 | 4,459 | ||||||||
Segro PLC | 1,038 | 9,180 | ||||||||
Severn Trent PLC | 229 | 6,078 | ||||||||
Smith & Nephew PLC | 846 | 16,328 | ||||||||
Smiths Group PLC | 380 | 7,542 | ||||||||
Spirax-Sarco Engineering PLC | 71 | 7,636 | ||||||||
SSE PLC | 1,004 | 14,980 | ||||||||
St James’s Place PLC | 503 | 7,354 | ||||||||
Standard Chartered PLC | 2,643 | 24,119 | ||||||||
Standard Life Aberdeen PLC | 2,413 | 8,773 | ||||||||
Subsea 7 SA | 247 | 3,131 | ||||||||
Tate & Lyle PLC | 448 | 4,483 | ||||||||
Taylor Wimpey PLC | 3,135 | 7,414 | ||||||||
TechnipFMC PLC | 448 | 11,101 | ||||||||
Tesco PLC | 9,446 | 30,761 | ||||||||
Travis Perkins PLC | 245 | 4,464 | ||||||||
Unilever NV | 1,479 | 89,440 | ||||||||
Unilever PLC | 1,068 | 64,846 | ||||||||
United Utilities Group PLC | 658 | 7,109 | ||||||||
Vodafone Group PLC | 26,095 | 48,307 | ||||||||
Weir Group PLC (The) | 248 | 5,365 | ||||||||
Whitbread PLC | 174 | 10,117 | ||||||||
Wm Morrison Supermarkets PLC | 2,094 | 5,894 | ||||||||
WPP PLC | 1,198 | 14,937 | ||||||||
Total United Kingdom | 2,065,320 | |||||||||
United States — 0.4% | ||||||||||
Carnival PLC | 156 | 8,206 | ||||||||
Ferguson PLC | 224 | 15,886 | ||||||||
QIAGEN NV* | 210 | 8,103 | ||||||||
Total United States | 32,195 | |||||||||
Total Common Stocks | ||||||||||
(Cost $9,880,937) | 8,801,580 | |||||||||
Preferred Stocks — 0.9% | ||||||||||
Germany — 0.8% | ||||||||||
Bayerische Motoren Werke AG, 6.05% | 52 | $ | 3,835 | |||||||
FUCHS PETROLUB SE, 2.34% | 66 | 2,868 | ||||||||
Henkel AG & Co. KGaA, 2.05% | 171 | 17,293 | ||||||||
Porsche Automobil Holding SE, 2.85% | 147 | 10,188 | ||||||||
RWE AG, 2.20% | 38 | 969 | ||||||||
Sartorius AG, 0.38% | 32 | 5,853 | ||||||||
Volkswagen AG, 2.54% | 179 | 31,102 | ||||||||
Total Germany | 72,108 | |||||||||
Spain — 0.1% | ||||||||||
Grifols SA, 2.41%, Class B | 254 | 4,890 | ||||||||
Total Preferred Stocks | ||||||||||
(Cost $89,868) | 76,998 | |||||||||
Investment of Cash Collateral For Securities Loaned — 7.8% | ||||||||||
Money Market Fund — 7.8% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(e) | ||||||||||
(Cost $696,634) | 696,634 | 696,634 | ||||||||
Total Investments — 107.6% | ||||||||||
(Cost $10,667,439) | 9,575,212 | |||||||||
Other Assets and Liabilities, Net — (7.6)% | (679,750 | ) | ||||||||
Net Assets — 100.0% | $ | 8,895,462 |
‡ | 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 $671,099; total market value of collateral held by the Fund was $704,064. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $7,430. |
(b) | Less than 0.05%. |
(c) | 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, 2019, the value of this security was $150. |
(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. |
(e) | Reflects the 1-day yield at April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF(continued)
April 30, 2019
Purchased Contracts | Settlement Date | Counterparty | Currency Amount Purchased | Value at Settlement Date | Value at April 30, 2019 | Unrealized Appreciation | ||||||||||||||
Swiss Franc | 05/07/19 | Morgan Stanley | 588,451 | $ | 577,679 | $ | 577,885 | $ | 206 | |||||||||||
Danish Krone | 05/07/19 | Morgan Stanley | 796,688 | 119,636 | 119,676 | 40 | ||||||||||||||
Euro | 05/07/19 | Morgan Stanley | 1,875,794 | 2,102,833 | 2,103,521 | 688 | ||||||||||||||
British Pound | 05/07/19 | Morgan Stanley | 918,925 | 1,198,218 | 1,198,431 | 213 | ||||||||||||||
Norwegian Krone | 05/07/19 | Morgan Stanley | 434,681 | 50,270 | 50,281 | 11 | ||||||||||||||
Polish Zloty | 05/07/19 | Morgan Stanley | 93,019 | 24,297 | 24,304 | 7 | ||||||||||||||
Swedish Krona | 05/07/19 | Morgan Stanley | 1,640,615 | 172,613 | 172,675 | 62 | ||||||||||||||
Unrealized Appreciation | $ | 4,245,546 | $ | 4,246,773 | $ | 1,227 |
Sold Contracts | Settlement Date | Counterparty | Currency Amount Sold | Value at Settlement Date | Value at April 30, 2019 | Unrealized Appreciation | ||||||||||||||
Swiss Franc | 05/07/19 | Morgan Stanley | (588,451 | ) | $ | (592,732 | ) | $ | (577,885 | ) | $ | 14,847 | ||||||||
Danish Krone | 05/07/19 | Morgan Stanley | (796,688 | ) | (120,191 | ) | (119,676 | ) | 515 | |||||||||||
Euro | 05/07/19 | Morgan Stanley | (1,875,794 | ) | (2,112,119 | ) | (2,103,521 | ) | 8,598 | |||||||||||
British Pound | 05/07/19 | Morgan Stanley | (918,925 | ) | (1,199,344 | ) | (1,198,431 | ) | 913 | |||||||||||
Norwegian Krone | 05/07/19 | Morgan Stanley | (434,681 | ) | (50,539 | ) | (50,281 | ) | 258 | |||||||||||
Swedish Krona | 05/07/19 | Morgan Stanley | (1,640,615 | ) | (177,321 | ) | (172,675 | ) | 4,646 | |||||||||||
Unrealized Appreciation | $ | (4,252,246 | ) | $ | (4,222,469 | ) | $ | 29,777 | ||||||||||||
Total Unrealized Appreciation | $ | 31,004 |
Sold Contracts | Settlement Date | Counterparty | Currency Amount Sold | Value at Settlement Date | Value at April 30, 2019 | Unrealized Depreciation | ||||||||||||||
Swiss Franc | 06/04/19 | Morgan Stanley | (611,455 | ) | $ | (601,833 | ) | $ | (602,154 | ) | $ | (321 | ) | |||||||
Danish Krone | 06/04/19 | Morgan Stanley | (807,329 | ) | (121,530 | ) | (121,603 | ) | (73 | ) | ||||||||||
Euro | 06/04/19 | Morgan Stanley | (1,979,884 | ) | (2,224,684 | ) | (2,225,783 | ) | (1,099 | ) | ||||||||||
British Pound | 06/04/19 | Morgan Stanley | (948,286 | ) | (1,238,224 | ) | (1,238,651 | ) | (427 | ) | ||||||||||
Norwegian Krone | 06/04/19 | Morgan Stanley | (446,378 | ) | (51,675 | ) | (51,695 | ) | (20 | ) | ||||||||||
Polish Zloty | 05/07/19 | Morgan Stanley | (93,019 | ) | (24,286 | ) | (24,304 | ) | (18 | ) | ||||||||||
Polish Zloty | 06/04/19 | Morgan Stanley | (94,191 | ) | (24,621 | ) | (24,632 | ) | (11 | ) | ||||||||||
Swedish Krona | 06/04/19 | Morgan Stanley | (1,760,168 | ) | (185,595 | ) | (185,692 | ) | (97 | ) | ||||||||||
Unrealized Depreciation | $ | (4,472,448 | ) | $ | (4,474,514 | ) | $ | (2,066 | ) | |||||||||||
Total Unrealized Depreciation | $ | (2,066) | ||||||||||||||||||
Net Unrealized Appreciation (Depreciation) | $ | 28,938 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Europe ETF(continued)
April 30, 2019
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(f) | ||||||||||||||||||
Common Stocks | ||||||||||||||||||
Australia | $ | 111,111 | $ | — | $ | — | $ | 111,111 | ||||||||||
Austria | 33,829 | — | — | 33,829 | ||||||||||||||
Belgium | 150,622 | — | — | 150,622 | ||||||||||||||
Chile | 3,954 | — | — | 3,954 | ||||||||||||||
Denmark | 242,017 | — | — | 242,017 | ||||||||||||||
Finland | 170,870 | — | — | 170,870 | ||||||||||||||
France | 1,497,111 | — | — | 1,497,111 | ||||||||||||||
Germany | 1,172,234 | — | — | 1,172,234 | ||||||||||||||
Ireland | 75,929 | — | — | 75,929 | ||||||||||||||
Italy | 315,590 | — | — | 315,590 | ||||||||||||||
Jordan | 3,130 | — | — | 3,130 | ||||||||||||||
Kazakhstan | 1,913 | — | — | 1,913 | ||||||||||||||
Luxembourg | 31,818 | — | — | 31,818 | ||||||||||||||
Mexico | 1,747 | — | — | 1,747 | ||||||||||||||
Netherlands | 626,304 | — | — | 626,304 | ||||||||||||||
Norway | 98,136 | — | — | 98,136 | ||||||||||||||
Poland | 49,310 | — | — | 49,310 | ||||||||||||||
Portugal | 20,428 | — | — | 20,428 | ||||||||||||||
Russia | 8,343 | — | — | 8,343 | ||||||||||||||
South Africa | 28,834 | — | — | 28,834 | ||||||||||||||
Spain | 424,500 | — | — | 424,500 | ||||||||||||||
Sweden | 369,944 | — | — | 369,944 | ||||||||||||||
Switzerland | 1,263,338 | — | — | 1,263,338 | ||||||||||||||
United Arab Emirates | 3,053 | — | — | 3,053 | ||||||||||||||
United Kingdom | 2,065,170 | — | 150 | (g) | 2,065,320 | |||||||||||||
United States | 32,195 | — | — | 32,195 | ||||||||||||||
Total Common Stocks | 8,801,430 | — | 150 | 8,801,580 | ||||||||||||||
Preferred Stocks | ||||||||||||||||||
Germany | 72,108 | — | — | 72,108 | ||||||||||||||
Spain | 4,890 | — | — | 4,890 | ||||||||||||||
Total Preferred Stocks | 76,998 | — | — | 76,998 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 696,634 | — | — | 696,634 | ||||||||||||||
Total Investments in Securities | 9,575,062 | — | 150 | 9,575,212 | ||||||||||||||
Other Financial Instruments:(h) | ||||||||||||||||||
Forward Foreign Currency Contracts | — | 31,004 | — | 31,004 | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 9,575,062 | $ | 31,004 | $ | 150 | $ | 9,606,216 |
Liability Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(h) | ||||||||||||||||||
Forward Foreign Currency Contracts | $ | — | $ | 2,066 | $ | — | $ | $2,066 |
(f) | For a complete listing of investments and their countries, see the Schedules of Investments. |
(g) | The Level 3 security, valued at $150, 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 50 Percent Hedged FTSE Europe ETF(continued)
April 30, 2019
Investments in Securities | Balance as of April 30, 2018 | 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, 2019 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2019(i) | ||||||||||||||||||||||||||||||
Common Stocks | ||||||||||||||||||||||||||||||||||||||||
Rolls-Royce Holdings PLC — Entitlement(j) | $ | — | $ | — | $ | — | $ | 2 | $ | 148 | $ | — | $ | — | $ | — | $ | 150 | $ | 2 | ||||||||||||||||||||
Rolls-Royce Holdings PLC, Class C | 2,740 | — | (131 | ) | 32 | — | (2,641 | ) | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 2,740 | $ | — | $ | (131 | ) | $ | 34 | $ | 148 | $ | (2,641 | ) | $ | — | $ | — | $ | 150 | $ | 2 |
(i) | Included in “Net change in unrealized appreciation (depreciation) on investments” in the Statement 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. |
Security Type | Fair Value | Valuation Technique | Unobservable Inputs | |||||||
Common Stock | $ | 150 | Issuer Specific Facts | Comparable Information |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Japan ETF
April 30, 2019
Shares | Value | |||||||||
Common Stocks — 99.9% | ||||||||||
Communication Services — 8.0% | ||||||||||
Capcom Co., Ltd.(a) | 160 | $ | 3,599 | |||||||
CyberAgent, Inc.(a) | 160 | 6,364 | ||||||||
Daiichikosho Co., Ltd.(a) | 71 | 3,468 | ||||||||
DeNA Co., Ltd.(a) | 187 | 2,913 | ||||||||
Dentsu, Inc.(a) | 373 | 15,188 | ||||||||
Fuji Media Holdings, Inc.(a) | 76 | 1,019 | ||||||||
GungHo Online Entertainment, Inc.(a) | 618 | 1,925 | ||||||||
Hakuhodo DY Holdings, Inc.(a) | 403 | 6,777 | ||||||||
Kakaku.com, Inc.(a) | 225 | 4,606 | ||||||||
KDDI Corp.(a) | 2,972 | 67,792 | ||||||||
Koei Tecmo Holdings Co., Ltd.(a) | 99 | 1,797 | ||||||||
Konami Holdings Corp.(a) | 161 | 7,315 | ||||||||
LINE Corp.*,(a)(b) | 89 | 2,985 | ||||||||
Nexon Co., Ltd.*,(a) | 695 | 9,959 | ||||||||
Nintendo Co., Ltd.(a) | 183 | 62,438 | ||||||||
Nippon Telegraph & Telephone Corp.(a) | 1,089 | 45,134 | ||||||||
Nippon Television Holdings, Inc.(a) | 84 | 1,225 | ||||||||
NTT DOCOMO, Inc.(a) | 1,989 | 43,048 | ||||||||
Shochiku Co., Ltd.(a) | 16 | 1,918 | ||||||||
SKY Perfect JSAT Holdings, Inc.(a) | 199 | 793 | ||||||||
Softbank Corp.(a) | 2,723 | 32,077 | ||||||||
SoftBank Group Corp.(a) | 1,451 | 150,539 | ||||||||
Square Enix Holdings Co., Ltd.(a) | 130 | 4,471 | ||||||||
Toho Co., Ltd.(a) | 193 | 8,067 | ||||||||
Tokyo Broadcasting System Holdings, Inc.(a) | 55 | 1,042 | ||||||||
TV Asahi Holdings Corp.(a) | 33 | 580 | ||||||||
Yahoo Japan Corp.(a) | 3,988 | 10,599 | ||||||||
Total Communication Services | 497,638 | |||||||||
Consumer Discretionary — 18.3% | ||||||||||
ABC-Mart, Inc.(a) | 45 | 2,796 | ||||||||
Aisin Seiki Co., Ltd.(a) | 294 | 11,364 | ||||||||
Aoyama Trading Co., Ltd.(a) | 73 | 1,599 | ||||||||
Asics Corp.(a) | 291 | 3,566 | ||||||||
ASKUL Corp.(a) | 31 | 832 | ||||||||
Autobacs Seven Co., Ltd.(a) | 98 | 1,707 | ||||||||
Bandai Namco Holdings, Inc.(a) | 330 | 15,704 | ||||||||
Benesse Holdings, Inc.(a) | 119 | 3,275 | ||||||||
Bic Camera, Inc.(a) | 249 | 2,665 | ||||||||
Bridgestone Corp.(a) | 1,048 | 41,459 | ||||||||
Canon Marketing Japan, Inc.(a) | 75 | 1,618 | ||||||||
Casio Computer Co., Ltd.(a) | 360 | 4,529 | ||||||||
Denso Corp.(a) | 779 | 33,944 | ||||||||
Exedy Corp.(a) | 51 | 1,162 | ||||||||
Fast Retailing Co., Ltd.(a) | 87 | 50,196 | ||||||||
Fujitsu General Ltd.(a) | 93 | 1,354 | ||||||||
Goldwin, Inc.(a) | 30 | 4,773 | ||||||||
H2O Retailing Corp.(a) | 147 | 1,865 | ||||||||
Haseko Corp.(a) | 471 | 5,671 | ||||||||
Heiwa Corp.(a) | 85 | 1,688 | ||||||||
Hikari Tsushin, Inc.(a) | 41 | 7,561 | ||||||||
HIS Co., Ltd.(a) | 53 | 1,685 | ||||||||
Honda Motor Co., Ltd.(a) | 2,965 | 82,554 | ||||||||
Iida Group Holdings Co., Ltd.(a) | 235 | 3,965 | ||||||||
Isetan Mitsukoshi Holdings Ltd.(a) | 607 | 5,772 | ||||||||
Isuzu Motors Ltd.(a) | 864 | 12,377 | ||||||||
Izumi Co., Ltd.(a) | 69 | 3,005 | ||||||||
J Front Retailing Co., Ltd.(a) | 411 | 5,000 | ||||||||
Koito Manufacturing Co., Ltd.(a) | 192 | 11,412 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Consumer Discretionary (continued) | ||||||||||
Komeri Co., Ltd.(a) | 44 | $ | 926 | |||||||
K’s Holdings Corp.(a) | 314 | 2,800 | ||||||||
Kyoritsu Maintenance Co., Ltd.(a) | 40 | 2,047 | ||||||||
Marui Group Co., Ltd.(a) | 354 | 7,174 | ||||||||
Mazda Motor Corp.(a) | 967 | 11,422 | ||||||||
Mitsubishi Motors Corp.(a) | 1,066 | 5,963 | ||||||||
NGK Spark Plug Co., Ltd.(a) | 340 | 6,585 | ||||||||
NHK Spring Co., Ltd.(a)(b) | 270 | 2,424 | ||||||||
Nifco, Inc.(a) | 144 | 4,047 | ||||||||
Nikon Corp.(a) | 590 | 8,211 | ||||||||
Nissan Motor Co., Ltd.(a) | 3,271 | 26,236 | ||||||||
Nissan Shatai Co., Ltd.(a) | 105 | 962 | ||||||||
Nitori Holdings Co., Ltd.(a) | 126 | 14,990 | ||||||||
NOK Corp.(a) | 189 | 3,022 | ||||||||
Oriental Land Co., Ltd.(a) | 319 | 35,144 | ||||||||
PALTAC Corp.(a) | 52 | 2,853 | ||||||||
Pan Pacific International Holdings Corp.(a) | 216 | 13,905 | ||||||||
Panasonic Corp.(a) | 3,614 | 33,130 | ||||||||
Rakuten, Inc.(a) | 1,334 | 14,792 | ||||||||
Resorttrust, Inc.(a) | 111 | 1,545 | ||||||||
Rinnai Corp.(a) | 63 | 4,231 | ||||||||
Ryohin Keikaku Co., Ltd.(a) | 40 | 7,592 | ||||||||
Sankyo Co., Ltd.(a) | 89 | 3,504 | ||||||||
Sanrio Co., Ltd.(a) | 101 | 2,299 | ||||||||
Sega Sammy Holdings, Inc.(a) | 332 | 4,185 | ||||||||
Sekisui Chemical Co., Ltd.(a) | 602 | 9,627 | ||||||||
Sekisui House Ltd.(a) | 983 | 15,816 | ||||||||
Sharp Corp.*,(a) | 258 | 2,863 | ||||||||
Shimachu Co., Ltd.(a) | 75 | 1,805 | ||||||||
Shimamura Co., Ltd.(a) | 40 | 2,977 | ||||||||
Shimano, Inc.(a) | 133 | 19,453 | ||||||||
Skylark Holdings Co., Ltd.(a) | 324 | 5,332 | ||||||||
Sony Corp.(a) | 2,154 | 100,800 | ||||||||
Stanley Electric Co., Ltd.(a) | 250 | 6,756 | ||||||||
Subaru Corp.(a) | 1,039 | 25,379 | ||||||||
Sumitomo Electric Industries Ltd.(a) | 1,276 | 16,893 | ||||||||
Sumitomo Forestry Co., Ltd.(a) | 222 | 3,044 | ||||||||
Sumitomo Rubber Industries Ltd.(a) | 300 | 3,682 | ||||||||
Suzuki Motor Corp.(a) | 730 | 33,198 | ||||||||
Takashimaya Co., Ltd.(a)(b) | 249 | 2,792 | ||||||||
Tokai Rika Co., Ltd.(a) | 83 | 1,438 | ||||||||
Toyo Tire Corp.(a) | 168 | 1,959 | ||||||||
Toyoda Gosei Co., Ltd.(a) | 120 | 2,489 | ||||||||
Toyota Boshoku Corp.(a) | 99 | 1,461 | ||||||||
Toyota Industries Corp.(a) | 272 | 15,386 | ||||||||
Toyota Motor Corp.(a) | 4,247 | 263,304 | ||||||||
TS Tech Co., Ltd.(a) | 88 | 2,627 | ||||||||
USS Co., Ltd.(a) | 365 | 6,967 | ||||||||
Wacoal Holdings Corp.(a) | 97 | 2,392 | ||||||||
Yamada Denki Co., Ltd.(a) | 1,230 | 5,820 | ||||||||
Yamaha Corp.(a) | 274 | 14,146 | ||||||||
Yamaha Motor Co., Ltd.(a) | 474 | 9,738 | ||||||||
Yokohama Rubber Co., Ltd. (The)(a) | 178 | 3,345 | ||||||||
Zensho Holdings Co., Ltd.(a) | 152 | 3,417 | ||||||||
ZOZO, Inc.(a) | 291 | 5,134 | ||||||||
Total Consumer Discretionary | 1,135,127 | |||||||||
Consumer Staples — 8.9% | ||||||||||
Aeon Co., Ltd.(a) | 1,183 | 21,822 | ||||||||
Ain Holdings, Inc.(a) | 47 | 3,730 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Japan ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Consumer Staples (continued) | ||||||||||
Ajinomoto Co., Inc.(a) | 828 | $ | 13,326 | |||||||
Ariake Japan Co., Ltd.(a) | 31 | 1,798 | ||||||||
Asahi Group Holdings Ltd.(a) | 646 | 28,009 | ||||||||
Calbee, Inc.(a) | 128 | 3,517 | ||||||||
Coca-Cola Bottlers Japan Holdings, Inc.(a) | 243 | 5,972 | ||||||||
Cosmos Pharmaceutical Corp.(a) | 15 | 2,389 | ||||||||
Ezaki Glico Co., Ltd.(a) | 87 | 4,578 | ||||||||
FamilyMart UNY Holdings Co., Ltd.(a) | 391 | 10,420 | ||||||||
Fancl Corp.(a) | 120 | 3,556 | ||||||||
Fuji Oil Holdings, Inc.(a) | 75 | 2,401 | ||||||||
House Foods Group, Inc.(a) | 126 | 5,057 | ||||||||
Ito En Ltd.(a) | 97 | 4,816 | ||||||||
Itoham Yonekyu Holdings, Inc.(a) | 220 | 1,369 | ||||||||
Japan Tobacco, Inc.(a) | 2,035 | 47,068 | ||||||||
Kagome Co., Ltd.(a) | 133 | 3,612 | ||||||||
Kao Corp.(a) | 809 | 62,156 | ||||||||
Kewpie Corp.(a) | 183 | 4,216 | ||||||||
Kikkoman Corp.(a) | 310 | 14,362 | ||||||||
Kirin Holdings Co., Ltd.(a) | 1,366 | 30,901 | ||||||||
Kobayashi Pharmaceutical Co., Ltd.(a) | 105 | 8,353 | ||||||||
Kose Corp.(a) | 49 | 9,173 | ||||||||
Kusuri no Aoki Holdings Co., Ltd.(a) | 28 | 1,966 | ||||||||
Lawson, Inc.(a) | 81 | 3,775 | ||||||||
Lion Corp.(a) | 428 | 8,792 | ||||||||
Maruha Nichiro Corp.(a) | 62 | 1,960 | ||||||||
Matsumotokiyoshi Holdings Co., Ltd.(a) | 129 | 4,233 | ||||||||
Megmilk Snow Brand Co., Ltd.(a) | 67 | 1,476 | ||||||||
MEIJI Holdings Co., Ltd.(a) | 228 | 17,912 | ||||||||
Mitsubishi Shokuhin Co., Ltd.(a) | 20 | 517 | ||||||||
Morinaga & Co., Ltd.(a) | 69 | 2,865 | ||||||||
Morinaga Milk Industry Co., Ltd.(a) | 69 | 2,271 | ||||||||
NH Foods Ltd.(a) | 169 | 6,783 | ||||||||
Nichirei Corp.(a) | 182 | 4,187 | ||||||||
Nisshin Seifun Group, Inc.(a) | 436 | 10,116 | ||||||||
Nissin Foods Holdings Co., Ltd.(a) | 117 | 7,700 | ||||||||
Noevir Holdings Co., Ltd.(a) | 28 | 1,471 | ||||||||
Pigeon Corp.(a) | 183 | 7,747 | ||||||||
Pola Orbis Holdings, Inc.(a) | 124 | 3,897 | ||||||||
Sapporo Holdings Ltd.(a) | 104 | 2,122 | ||||||||
Seven & i Holdings Co., Ltd.(a) | 1,312 | 45,459 | ||||||||
Shiseido Co., Ltd.(a) | 661 | 51,740 | ||||||||
Sugi Holdings Co., Ltd.(a) | 60 | 3,022 | ||||||||
Sundrug Co., Ltd.(a) | 110 | 2,939 | ||||||||
Suntory Beverage & Food Ltd.(a) | 213 | 9,371 | ||||||||
Takara Holdings, Inc.(a) | 292 | 3,393 | ||||||||
Toyo Suisan Kaisha Ltd.(a) | 153 | 5,818 | ||||||||
Tsuruha Holdings, Inc.(a) | 61 | 5,187 | ||||||||
Unicharm Corp.(a) | 657 | 21,525 | ||||||||
Welcia Holdings Co., Ltd.(a) | 84 | 3,300 | ||||||||
Yakult Honsha Co., Ltd.(a) | 208 | 14,100 | ||||||||
Yamazaki Baking Co., Ltd.(a) | 213 | 3,159 | ||||||||
Yaoko Co., Ltd.(a) | 35 | 1,659 | ||||||||
Total Consumer Staples | 553,063 | |||||||||
Energy — 0.9% | ||||||||||
Cosmo Energy Holdings Co., Ltd.(a) | 109 | 2,248 | ||||||||
Idemitsu Kosan Co., Ltd.(a) | 328 | 10,617 | ||||||||
Inpex Corp.(a) | 1,548 | 15,025 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Energy (continued) | ||||||||||
Japan Petroleum Exploration Co., Ltd.(a) | 49 | $ | 1,063 | |||||||
JXTG Holdings, Inc.(a) | 5,380 | 26,119 | ||||||||
Total Energy | 55,072 | |||||||||
Financials — 10.9% | ||||||||||
77 Bank Ltd. (The)(a) | 119 | 1,696 | ||||||||
Acom Co., Ltd.(a)(b) | 641 | 2,245 | ||||||||
AEON Financial Service Co., Ltd.(a) | 193 | 3,984 | ||||||||
Aiful Corp.*,(a) | 481 | 1,123 | ||||||||
Aozora Bank Ltd.(a) | 199 | 4,840 | ||||||||
Aplus Financial Co., Ltd.*,(a) | 151 | 117 | ||||||||
Awa Bank Ltd. (The)(a) | 61 | 1,527 | ||||||||
Bank of Kyoto Ltd. (The)(a) | 120 | 5,172 | ||||||||
Chiba Bank Ltd. (The)(a) | 1,049 | 5,472 | ||||||||
Chugoku Bank Ltd. (The)(a) | 291 | 2,803 | ||||||||
Concordia Financial Group Ltd.(a) | 1,928 | 7,478 | ||||||||
Credit Saison Co., Ltd.(a) | 273 | 3,471 | ||||||||
Dai-ichi Life Holdings, Inc.(a) | 1,863 | 26,680 | ||||||||
Daishi Hokuetsu Financial Group, Inc.(a) | 73 | 2,140 | ||||||||
Daiwa Securities Group, Inc.(a) | 2,603 | 12,039 | ||||||||
Fukuoka Financial Group, Inc.(a) | 276 | 6,384 | ||||||||
Fuyo General Lease Co., Ltd.(a) | 34 | 1,688 | ||||||||
Gunma Bank Ltd. (The)(a) | 716 | 2,822 | ||||||||
Hachijuni Bank Ltd. (The)(a) | 761 | 3,047 | ||||||||
Hiroshima Bank Ltd. (The)(a) | 493 | 2,647 | ||||||||
Hitachi Capital Corp.(a) | 68 | 1,572 | ||||||||
Hokuhoku Financial Group, Inc.(a) | 214 | 2,346 | ||||||||
Iyo Bank Ltd. (The)(a) | 456 | 2,522 | ||||||||
Japan Exchange Group, Inc.(a) | 910 | 14,772 | ||||||||
Japan Post Bank Co., Ltd.(a)(b) | 694 | 7,621 | ||||||||
Japan Post Holdings Co., Ltd.(a) | 2,248 | 25,089 | ||||||||
Japan Post Insurance Co., Ltd.(a) | 333 | 6,712 | ||||||||
Kansai Mirai Financial Group, Inc.(a) | 304 | 2,118 | ||||||||
Kyushu Financial Group, Inc.(a) | 656 | 2,633 | ||||||||
Matsui Securities Co., Ltd.(a) | 171 | 1,520 | ||||||||
Mebuki Financial Group, Inc.(a) | 1,689 | 4,292 | ||||||||
Mitsubishi UFJ Financial Group, Inc.(a) | 21,238 | 104,860 | ||||||||
Mitsubishi UFJ Lease & Finance Co., Ltd.(a) | 731 | 3,702 | ||||||||
Mizuho Financial Group, Inc.(a) | 43,225 | 67,336 | ||||||||
MS&AD Insurance Group Holdings, Inc.(a) | 834 | 25,744 | ||||||||
Nishi-Nippon Financial Holdings, Inc.(a) | 256 | 2,105 | ||||||||
Nomura Holdings, Inc.(a) | 5,592 | 20,977 | ||||||||
North Pacific Bank Ltd.(a) | 464 | 1,133 | ||||||||
Orient Corp.(a) | 933 | 980 | ||||||||
ORIX Corp.(a) | 2,176 | 30,703 | ||||||||
Resona Holdings, Inc.(a) | 3,695 | 15,583 | ||||||||
San-In Godo Bank Ltd. (The)(a) | 253 | 1,670 | ||||||||
SBI Holdings, Inc.(a) | 387 | 8,246 | ||||||||
Seven Bank Ltd.(a) | 1,104 | 2,994 | ||||||||
Shiga Bank Ltd. (The)(a) | 85 | 2,024 | ||||||||
Shinsei Bank Ltd.(a) | 256 | 3,544 | ||||||||
Shizuoka Bank Ltd. (The)(a) | 858 | 6,548 | ||||||||
Sompo Holdings, Inc.(a) | 586 | 21,893 | ||||||||
Sony Financial Holdings, Inc.(a) | 291 | 5,923 | ||||||||
Sumitomo Mitsui Financial Group, Inc.(a) | 2,250 | 81,232 | ||||||||
Sumitomo Mitsui Trust Holdings, Inc.(a) | 630 | 21,857 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Japan ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Financials (continued) | ||||||||||
T&D Holdings, Inc.(a) | 945 | $ | 10,152 | |||||||
Tokai Tokyo Financial Holdings, Inc.(a) | 374 | 1,236 | ||||||||
Tokio Marine Holdings, Inc.(a) | 1,135 | 57,089 | ||||||||
Tokyo Century Corp.(a) | 80 | 3,678 | ||||||||
Yamaguchi Financial Group, Inc.(a) | 383 | 2,820 | ||||||||
Zenkoku Hosho Co., Ltd.(a) | 87 | 3,039 | ||||||||
Total Financials | 675,640 | |||||||||
Health Care — 8.8% | ||||||||||
Alfresa Holdings Corp.(a) | 296 | 8,226 | ||||||||
Asahi Intecc Co., Ltd.(a) | 170 | 8,563 | ||||||||
Astellas Pharma, Inc.(a) | 3,273 | 44,345 | ||||||||
Chugai Pharmaceutical Co., Ltd.(a) | 367 | 23,198 | ||||||||
Daiichi Sankyo Co., Ltd.(a) | 1,081 | 53,198 | ||||||||
Eisai Co., Ltd.(a) | 448 | 25,961 | ||||||||
Hisamitsu Pharmaceutical Co., Inc.(a) | 123 | 5,202 | ||||||||
Hoya Corp.(a) | 625 | 43,855 | ||||||||
Kaken Pharmaceutical Co., Ltd.(a) | 58 | 2,471 | ||||||||
Kissei Pharmaceutical Co., Ltd.(a) | 52 | 1,284 | ||||||||
KYORIN Holdings, Inc.(a) | 64 | 1,199 | ||||||||
Kyowa Hakko Kirin Co., Ltd.(a) | 421 | 8,150 | ||||||||
M3, Inc.(a) | 682 | 12,057 | ||||||||
Medipal Holdings Corp.(a) | 262 | 5,869 | ||||||||
Miraca Holdings, Inc.(a) | 85 | 2,170 | ||||||||
Mitsubishi Tanabe Pharma Corp.(a) | 369 | 4,632 | ||||||||
Mochida Pharmaceutical Co., Ltd.(a) | 44 | 2,038 | ||||||||
Nihon Kohden Corp.(a) | 124 | 3,602 | ||||||||
Nippon Shinyaku Co., Ltd.(a) | 89 | 6,121 | ||||||||
Nipro Corp.(a) | 192 | 2,374 | ||||||||
Olympus Corp.(a) | 1,902 | 21,244 | ||||||||
Ono Pharmaceutical Co., Ltd.(a) | 748 | 13,966 | ||||||||
Otsuka Holdings Co., Ltd.(a) | 710 | 25,302 | ||||||||
PeptiDream, Inc.*,(a) | 144 | 7,745 | ||||||||
Rohto Pharmaceutical Co., Ltd.(a) | 166 | 4,643 | ||||||||
Santen Pharmaceutical Co., Ltd.(a) | 617 | 9,384 | ||||||||
Sawai Pharmaceutical Co., Ltd.(a) | 66 | 3,532 | ||||||||
Shionogi & Co., Ltd.(a) | 477 | 27,736 | ||||||||
Sumitomo Dainippon Pharma Co., Ltd.(a) | 283 | 6,225 | ||||||||
Suzuken Co., Ltd.(a) | 132 | 7,585 | ||||||||
Sysmex Corp.(a) | 321 | 18,307 | ||||||||
Taisho Pharmaceutical Holdings Co., Ltd.(a) | 73 | 6,738 | ||||||||
Takara Bio, Inc.(a) | 75 | 1,638 | ||||||||
Takeda Pharmaceutical Co., Ltd.(a) | 2,579 | 95,217 | ||||||||
Terumo Corp.(a) | 1,095 | 32,907 | ||||||||
Tsumura & Co.(a) | 109 | 3,342 | ||||||||
Total Health Care | 550,026 | |||||||||
Industrials — 22.3% | ||||||||||
AGC, Inc.(a) | 313 | 10,637 | ||||||||
Aica Kogyo Co., Ltd.(a) | 87 | 3,000 | ||||||||
Amada Holdings Co., Ltd.(a) | 539 | 5,982 | ||||||||
ANA Holdings, Inc.(a) | 190 | 6,633 | ||||||||
Benefit One, Inc.(a) | 98 | 2,033 | ||||||||
Central Japan Railway Co.(a) | 307 | 65,865 | ||||||||
Chiyoda Corp.*,(a) | 252 | 796 | ||||||||
COMSYS Holdings Corp.(a) | 195 | 5,107 | ||||||||
Dai Nippon Printing Co., Ltd.(a) | 499 | 11,797 | ||||||||
Daifuku Co., Ltd.(a) | 163 | 9,923 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Industrials (continued) | ||||||||||
Daikin Industries Ltd.(a) | 451 | $ | 57,096 | |||||||
DMG Mori Co., Ltd.(a)(b) | 165 | 2,356 | ||||||||
East Japan Railway Co.(a) | 627 | 58,914 | ||||||||
Ebara Corp.(a) | 170 | 5,197 | ||||||||
FANUC Corp.(a) | 330 | 61,556 | ||||||||
Fuji Electric Co., Ltd.(a) | 213 | 7,506 | ||||||||
Fujikura Ltd.(a) | 462 | 1,900 | ||||||||
Fukuyama Transporting Co., Ltd.(a) | 57 | 2,185 | ||||||||
Furukawa Electric Co., Ltd.(a) | 104 | 2,734 | ||||||||
Glory Ltd.(a) | 87 | 2,187 | ||||||||
GS Yuasa Corp.(a) | 129 | 2,579 | ||||||||
Hankyu Hanshin Holdings, Inc.(a) | 377 | 14,048 | ||||||||
Hino Motors Ltd.(a) | 451 | 4,244 | ||||||||
Hitachi Construction Machinery Co., Ltd.(a) | 177 | 4,688 | ||||||||
Hitachi Transport System Ltd.(a) | 73 | 2,019 | ||||||||
Hoshizaki Corp.(a) | 87 | 5,624 | ||||||||
IHI Corp.(a) | 221 | 5,233 | ||||||||
ITOCHU Corp.(a) | 2,404 | 43,169 | ||||||||
Japan Airlines Co., Ltd.(a) | 199 | 6,663 | ||||||||
Japan Airport Terminal Co., Ltd.(a) | 81 | 3,407 | ||||||||
Japan Steel Works Ltd. (The)(a) | 105 | 2,014 | ||||||||
JGC Corp.(a) | 366 | 5,219 | ||||||||
JTEKT Corp.(a) | 378 | 4,850 | ||||||||
Kajima Corp.(a) | 778 | 11,491 | ||||||||
Kamigumi Co., Ltd.(a) | 172 | 4,096 | ||||||||
Kandenko Co., Ltd.(a) | 169 | 1,419 | ||||||||
Kawasaki Heavy Industries Ltd.(a) | 243 | 5,642 | ||||||||
Kawasaki Kisen Kaisha Ltd.*,(a)(b) | 139 | 2,009 | ||||||||
Keihan Holdings Co., Ltd.(a) | 164 | 6,958 | ||||||||
Keikyu Corp.(a) | 422 | 7,184 | ||||||||
Keio Corp.(a) | 196 | 11,791 | ||||||||
Keisei Electric Railway Co., Ltd.(a) | 237 | 8,278 | ||||||||
Kinden Corp.(a) | 219 | 3,506 | ||||||||
Kintetsu Group Holdings Co., Ltd.(a) | 304 | 13,470 | ||||||||
Kokuyo Co., Ltd.(a) | 142 | 1,800 | ||||||||
Komatsu Ltd.(a) | 1,550 | 39,691 | ||||||||
Kubota Corp.(a) | 1,885 | 28,484 | ||||||||
Kurita Water Industries Ltd.(a) | 184 | 4,768 | ||||||||
Kyowa Exeo Corp.(a) | 172 | 4,679 | ||||||||
Kyudenko Corp.(a) | 68 | 1,929 | ||||||||
Kyushu Railway Co.(a) | 272 | 8,841 | ||||||||
LIXIL Group Corp.(a) | 446 | 5,795 | ||||||||
Mabuchi Motor Co., Ltd.(a) | 88 | 3,247 | ||||||||
Maeda Corp.(a) | 223 | 2,206 | ||||||||
Maeda Road Construction Co., Ltd.(a) | 95 | 1,877 | ||||||||
Makita Corp.(a) | 415 | 15,091 | ||||||||
Marubeni Corp.(a) | 2,652 | 18,932 | ||||||||
MINEBEA MITSUMI, Inc.(a) | 705 | 12,470 | ||||||||
MISUMI Group, Inc.(a) | 470 | 12,145 | ||||||||
Mitsubishi Corp.(a) | 2,189 | 60,064 | ||||||||
Mitsubishi Electric Corp.(a) | 3,362 | 47,755 | ||||||||
Mitsubishi Heavy Industries Ltd.(a) | 485 | 20,123 | ||||||||
Mitsubishi Logistics Corp.(a)(b) | 116 | 3,091 | ||||||||
Mitsui & Co., Ltd.(a) | 2,878 | 46,358 | ||||||||
Mitsui OSK Lines Ltd.(a) | 185 | 4,684 | ||||||||
Miura Co., Ltd.(a) | 164 | 4,157 | ||||||||
MonotaRO Co., Ltd.(a) | 199 | 4,578 | ||||||||
Nabtesco Corp.(a) | 196 | 5,966 | ||||||||
Nagase & Co., Ltd.(a) | 183 | 2,778 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Japan ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Industrials (continued) | ||||||||||
Nagoya Railroad Co., Ltd.(a) | 316 | $ | 8,540 | |||||||
Nankai Electric Railway Co., Ltd.(a) | 180 | 4,897 | ||||||||
NGK Insulators Ltd.(a) | 450 | 6,642 | ||||||||
Nidec Corp.(a) | 398 | 56,408 | ||||||||
Nihon M&A Center, Inc.(a) | 213 | 6,024 | ||||||||
Nippo Corp.(a) | 83 | 1,681 | ||||||||
Nippon Express Co., Ltd.(a) | 122 | 6,682 | ||||||||
Nippon Yusen K.K.(a)(b) | 270 | 4,596 | ||||||||
Nishi-Nippon Railroad Co., Ltd.(a) | 127 | 2,980 | ||||||||
Nisshinbo Holdings, Inc.(a) | 232 | 2,052 | ||||||||
NSK Ltd.(a) | 750 | 7,744 | ||||||||
NTN Corp.(a) | 713 | 2,337 | ||||||||
Obayashi Corp.(a) | 1,141 | 11,156 | ||||||||
Odakyu Electric Railway Co., Ltd.(a) | 517 | 12,134 | ||||||||
OKUMA Corp.(a) | 50 | 2,923 | ||||||||
OSG Corp.(a) | 128 | 2,562 | ||||||||
Park24 Co., Ltd.(a) | 182 | 3,812 | ||||||||
Penta-Ocean Construction Co., Ltd.(a) | 477 | 2,180 | ||||||||
Persol Holdings Co., Ltd.(a) | 283 | 5,295 | ||||||||
Pilot Corp.(a) | 42 | 1,735 | ||||||||
Recruit Holdings Co., Ltd.(a) | 2,035 | 60,826 | ||||||||
Sankyu, Inc.(a) | 83 | 3,965 | ||||||||
Sanwa Holdings Corp.(a) | 332 | 3,977 | ||||||||
Secom Co., Ltd.(a) | 330 | 27,668 | ||||||||
Seibu Holdings, Inc.(a) | 356 | 5,776 | ||||||||
Seino Holdings Co., Ltd.(a) | 258 | 3,496 | ||||||||
SG Holdings Co., Ltd.(a) | 359 | 9,589 | ||||||||
Shima Seiki Manufacturing Ltd.(a) | 50 | 1,672 | ||||||||
Shimizu Corp.(a) | 959 | 8,171 | ||||||||
SHO-BOND Holdings Co., Ltd.(a) | 38 | 2,607 | ||||||||
SMC Corp.(a) | 99 | 40,942 | ||||||||
Sohgo Security Services Co., Ltd.(a) | 113 | 5,027 | ||||||||
Sojitz Corp.(a) | 2,130 | 7,325 | ||||||||
Sotetsu Holdings, Inc.(a) | 132 | 3,644 | ||||||||
Sumitomo Corp.(a) | 1,900 | 27,116 | ||||||||
Sumitomo Heavy Industries Ltd.(a) | 192 | 6,766 | ||||||||
Tadano Ltd.(a) | 193 | 2,024 | ||||||||
Taisei Corp.(a) | 355 | 15,539 | ||||||||
TechnoPro Holdings, Inc.(a) | 64 | 3,821 | ||||||||
THK Co., Ltd.(a) | 191 | 4,984 | ||||||||
Tobu Railway Co., Ltd.(a) | 348 | 9,811 | ||||||||
Toda Corp.(a) | 391 | 2,405 | ||||||||
Tokyu Corp.(a) | 838 | 13,634 | ||||||||
Toppan Forms Co., Ltd.(a) | 62 | 565 | ||||||||
Toppan Printing Co., Ltd.(a) | 444 | 7,180 | ||||||||
Toshiba Corp.(a) | 924 | 30,696 | ||||||||
Toshiba Plant Systems & Services Corp.(a) | 63 | 1,127 | ||||||||
TOTO Ltd.(a) | 244 | 10,275 | ||||||||
Toyota Tsusho Corp.(a) | 378 | 12,490 | ||||||||
Ushio, Inc.(a) | 198 | 2,396 | ||||||||
West Japan Railway Co.(a) | 311 | 23,071 | ||||||||
Yamato Holdings Co., Ltd.(a) | 603 | 13,062 | ||||||||
Total Industrials | 1,388,541 | |||||||||
Information Technology — 10.9% | ||||||||||
Advantest Corp.(a) | 330 | 9,304 | ||||||||
Alps Alpine Co., Ltd.(a) | 360 | 7,586 | ||||||||
Azbil Corp.(a) | 224 | 5,364 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Information Technology (continued) | ||||||||||
Brother Industries Ltd.(a) | 401 | $ | 7,860 | |||||||
Canon, Inc.(a) | 1,749 | 48,509 | ||||||||
Citizen Watch Co., Ltd.(a) | 456 | 2,555 | ||||||||
Disco Corp.(a) | 47 | 8,052 | ||||||||
FUJIFILM Holdings Corp.(a) | 623 | 28,998 | ||||||||
Fujitsu Ltd.(a) | 326 | 23,812 | ||||||||
GMO internet, Inc.(a) | 106 | 1,636 | ||||||||
GMO Payment Gateway, Inc.(a) | 67 | 5,276 | ||||||||
Hamamatsu Photonics K.K.(a) | 217 | 8,777 | ||||||||
Hirose Electric Co., Ltd.(a) | 56 | 6,466 | ||||||||
Hitachi High-Technologies Corp.(a) | 108 | 4,800 | ||||||||
Hitachi Ltd.(a) | 1,573 | 52,101 | ||||||||
Horiba Ltd.(a) | 64 | 3,850 | ||||||||
Ibiden Co., Ltd.(a) | 181 | 3,232 | ||||||||
Itochu Techno-Solutions Corp.(a) | 165 | 4,031 | ||||||||
Japan Aviation Electronics Industry Ltd.(a) | 75 | 1,208 | ||||||||
Keyence Corp.(a) | 153 | 94,953 | ||||||||
Konica Minolta, Inc.(a) | 767 | 7,672 | ||||||||
Kyocera Corp.(a) | 520 | 33,569 | ||||||||
Murata Manufacturing Co., Ltd.(a) | 970 | 51,907 | ||||||||
NEC Corp.(a) | 422 | 14,190 | ||||||||
Nihon Unisys Ltd.(a) | 110 | 2,808 | ||||||||
Nippon Electric Glass Co., Ltd.(a) | 133 | 3,642 | ||||||||
Nomura Research Institute Ltd.(a) | 171 | 8,337 | ||||||||
NS Solutions Corp.(a) | 54 | 1,448 | ||||||||
NTT Data Corp.(a) | 1,067 | 12,397 | ||||||||
OBIC Business Consultants Co., Ltd.(a) | 26 | 1,040 | ||||||||
Obic Co., Ltd.(a) | 114 | 13,163 | ||||||||
Omron Corp.(a) | 323 | 17,256 | ||||||||
Oracle Corp. Japan(a) | 57 | 3,895 | ||||||||
Otsuka Corp.(a) | 172 | 6,749 | ||||||||
Renesas Electronics Corp.*,(a) | 1,185 | 6,309 | ||||||||
Ricoh Co., Ltd.(a) | 1,152 | 11,616 | ||||||||
Rohm Co., Ltd.(a) | 149 | 10,903 | ||||||||
SCREEN Holdings Co., Ltd.(a) | 67 | 3,212 | ||||||||
SCSK Corp.(a) | 71 | 3,360 | ||||||||
Seiko Epson Corp.(a) | 468 | 7,475 | ||||||||
Shimadzu Corp.(a) | 455 | 12,150 | ||||||||
SUMCO Corp.(a) | 393 | 5,152 | ||||||||
Taiyo Yuden Co., Ltd.(a) | 212 | 5,115 | ||||||||
TDK Corp.(a) | 204 | 17,749 | ||||||||
TIS, Inc.(a) | 133 | 6,042 | ||||||||
Tokyo Electron Ltd.(a) | 265 | 41,984 | ||||||||
Topcon Corp.(a) | 176 | 2,125 | ||||||||
Trend Micro, Inc.(a) | 198 | 9,884 | ||||||||
Ulvac, Inc.(a) | 81 | 2,705 | ||||||||
Yaskawa Electric Corp.(a)(b) | 442 | 16,251 | ||||||||
Yokogawa Electric Corp.(a) | 412 | 8,575 | ||||||||
Total Information Technology | 677,050 | |||||||||
Materials — 6.2% | ||||||||||
Air Water, Inc.(a) | 253 | 3,844 | ||||||||
Asahi Kasei Corp.(a) | 2,110 | 21,654 | ||||||||
Daicel Corp.(a) | 478 | 5,330 | ||||||||
Daido Steel Co., Ltd.(a) | 57 | 2,308 | ||||||||
Denka Co., Ltd.(a) | 146 | 4,378 | ||||||||
DIC Corp.(a) | 136 | 3,975 | ||||||||
Dowa Holdings Co., Ltd.(a) | 77 | 2,499 | ||||||||
FP Corp.(a) | 38 | 2,303 | ||||||||
Fuji Seal International, Inc.(a) | 71 | 2,473 | ||||||||
Hitachi Chemical Co., Ltd.(a) | 165 | 4,370 |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Japan ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Materials (continued) | ||||||||||
Hitachi Metals Ltd.(a) | 330 | $ | 3,796 | |||||||
JFE Holdings, Inc.(a) | 871 | 14,898 | ||||||||
JSR Corp.(a) | 310 | 4,698 | ||||||||
Kaneka Corp.(a) | 97 | 3,728 | ||||||||
Kansai Paint Co., Ltd.(a) | 329 | 6,248 | ||||||||
Kobe Steel Ltd.(a) | 497 | 3,789 | ||||||||
Kuraray Co., Ltd.(a) | 598 | 7,984 | ||||||||
Lintec Corp.(a) | 86 | 1,852 | ||||||||
Maruichi Steel Tube Ltd.(a) | 105 | 2,894 | ||||||||
Mitsubishi Chemical Holdings Corp.(a) | 2,159 | 15,297 | ||||||||
Mitsubishi Gas Chemical Co., Inc.(a) | 307 | 4,576 | ||||||||
Mitsubishi Materials Corp.(a)(b) | 212 | 5,490 | ||||||||
Mitsui Chemicals, Inc.(a) | 293 | 7,150 | ||||||||
Mitsui Mining & Smelting Co., Ltd.(a) | 94 | 2,427 | ||||||||
Nippon Kayaku Co., Ltd.(a) | 283 | 3,313 | ||||||||
Nippon Paint Holdings Co., Ltd.(a) | 261 | 9,878 | ||||||||
Nippon Paper Industries Co., Ltd.(a) | 159 | 3,146 | ||||||||
Nippon Shokubai Co., Ltd.(a) | 54 | 3,733 | ||||||||
Nippon Steel Corp.(a) | 1,375 | 24,451 | ||||||||
Nissan Chemical Corp.(a) | 236 | 10,446 | ||||||||
Nitto Denko Corp.(a) | 263 | 14,145 | ||||||||
NOF Corp.(a) | 115 | 4,084 | ||||||||
Oji Holdings Corp.(a) | 1,491 | 8,916 | ||||||||
Rengo Co., Ltd.(a) | 349 | 3,061 | ||||||||
Shin-Etsu Chemical Co., Ltd.(a) | 694 | 64,991 | ||||||||
Showa Denko K.K.(a) | 241 | 8,147 | ||||||||
Sumitomo Bakelite Co., Ltd.(a) | 53 | 2,061 | ||||||||
Sumitomo Chemical Co., Ltd.(a) | 2,555 | 12,663 | ||||||||
Sumitomo Metal Mining Co., Ltd.(a) | 403 | 12,588 | ||||||||
Sumitomo Osaka Cement Co., Ltd.(a) | 58 | 2,354 | ||||||||
Taiheiyo Cement Corp.(a) | 206 | 6,603 | ||||||||
Taiyo Nippon Sanso Corp.(a) | 236 | 3,918 | ||||||||
Teijin Ltd.(a) | 307 | 5,257 | ||||||||
Tokai Carbon Co., Ltd.(a)(b) | 326 | 3,744 | ||||||||
Tokuyama Corp.(a) | 117 | 2,889 | ||||||||
Toray Industries, Inc.(a) | 2,577 | 17,539 | ||||||||
Tosoh Corp.(a) | 483 | 7,741 | ||||||||
Toyo Seikan Group Holdings Ltd.(a) | 254 | 5,061 | ||||||||
Toyobo Co., Ltd.(a) | 146 | 1,902 | ||||||||
Ube Industries Ltd.(a) | 175 | 3,724 | ||||||||
Yamato Kogyo Co., Ltd.(a) | 56 | 1,546 | ||||||||
Zeon Corp.(a) | 240 | 2,334 | ||||||||
Total Materials | 388,196 | |||||||||
Real Estate — 2.8% | ||||||||||
Aeon Mall Co., Ltd.(a) | 201 | 3,075 | ||||||||
Daito Trust Construction Co., Ltd.(a) | 118 | 15,749 | ||||||||
Daiwa House Industry Co., Ltd.(a) | 1,102 | 30,782 | ||||||||
Hulic Co., Ltd.(a) | 605 | 5,204 | ||||||||
Ichigo, Inc.(a) | 337 | 1,083 | ||||||||
Leopalace21 Corp.*,(a)(b) | 390 | 658 | ||||||||
Mitsubishi Estate Co., Ltd.(a) | 2,003 | 33,730 | ||||||||
Mitsui Fudosan Co., Ltd.(a) | 1,609 | 37,085 | ||||||||
Nomura Real Estate Holdings, Inc.(a) | 195 | 4,123 | ||||||||
Open House Co., Ltd.(a) | 52 | 1,898 | ||||||||
Relo Group, Inc.(a) | 175 | 4,761 | ||||||||
Sumitomo Realty & Development Co., Ltd.(a) | 670 | 24,682 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Real Estate (continued) | ||||||||||
Tokyo Tatemono Co., Ltd.(a) | 344 | $ | 3,864 | |||||||
Tokyu Fudosan Holdings Corp.(a) | 1,015 | 5,705 | ||||||||
Total Real Estate | 172,399 | |||||||||
Utilities — 1.9% | ||||||||||
Chubu Electric Power Co., Inc.(a) | 1,185 | 17,194 | ||||||||
Chugoku Electric Power Co., Inc. (The)(a) | 490 | 5,838 | ||||||||
Electric Power Development Co., Ltd.(a) | 281 | 6,509 | ||||||||
Hokkaido Electric Power Co., Inc.(a) | 298 | 1,667 | ||||||||
Hokuriku Electric Power Co.*,(a) | 284 | 2,106 | ||||||||
Kansai Electric Power Co., Inc. (The)(a) | 1,232 | 14,884 | ||||||||
Kyushu Electric Power Co., Inc.(a) | 786 | 7,601 | ||||||||
Nippon Gas Co., Ltd.(a) | 65 | 1,705 | ||||||||
Osaka Gas Co., Ltd.(a) | 669 | 12,344 | ||||||||
Shikoku Electric Power Co., Inc.(a) | 253 | 2,549 | ||||||||
Toho Gas Co., Ltd.(a) | 150 | 6,168 | ||||||||
Tohoku Electric Power Co., Inc.(a) | 799 | 9,125 | ||||||||
Tokyo Electric Power Co., Holdings, Inc.*,(a) | 2,649 | 14,937 | ||||||||
Tokyo Gas Co., Ltd.(a) | 733 | 18,605 | ||||||||
Total Utilities | 121,232 | |||||||||
Total Common Stocks | ||||||||||
(Cost $6,214,769) | 6,213,984 | |||||||||
Investment of Cash Collateral For Securities Loaned — 0.6% | ||||||||||
Money Market Fund — 0.6% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(c) | ||||||||||
(Cost $36,999) | 36,999 | 36,999 | ||||||||
Total Investments — 100.5% | ||||||||||
(Cost $6,251,768) | 6,250,983 | |||||||||
Other Assets and Liabilities, Net — (0.5)% | (33,105 | ) | ||||||||
Net Assets — 100.0% | $ | 6,217,878 |
* | Non-income producing securities. |
(a) | These securities are deemed illiquid due to the extended closure of the Japanese market. |
(b) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $52,929; total market value of collateral held by the Fund was $56,367. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $19,368. |
(c) | Reflects the 1-day yield at April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ 50 Percent Hedged FTSE Japan ETF(continued)
April 30, 2019
Purchased Contracts | Settlement Date | Counterparty | Currency | Value at | Value at | Unrealized | ||||||||||||||||
Japanese Yen | 05/07/19 | Merrill Lynch | 339,348,549 | $ | 3,046,455 | $ | 3,048,762 | $ | 2,307 | |||||||||||||
Unrealized Appreciation | $ | 3,046,455 | $ | 3,048,762 | $ | 2,307 |
Sold Contracts | Settlement Date | Counterparty | Currency | Value at | Value at | Unrealized | ||||||||||||||||
Japanese Yen | 05/07/19 | Merrill Lynch | (337,864,323 | ) | $ | (3,060,845 | ) | $ | (3,035,427 | ) | $ | 25,418 | ||||||||||
Unrealized Appreciation | $ | (3,060,845 | ) | $ | (3,035,427 | ) | $ | 25,418 | ||||||||||||||
Total Unrealized Appreciation | $ | 27,725 |
Sold Contracts | Settlement Date | Counterparty | Currency | Value at | Value at | Unrealized | ||||||||||||||||
Japanese Yen | 05/07/19 | Merrill Lynch | (1,484,226 | ) | $ | (13,302 | ) | $ | (13,334 | ) | $ | (32 | ) | |||||||||
Japanese Yen | 06/04/19 | Merrill Lynch | (346,041,254 | ) | (3,113,582 | ) | (3,116,358 | ) | (2,776 | ) | ||||||||||||
Unrealized Depreciation | $ | (3,126,884 | ) | $ | (3,129,692 | ) | $ | (2,808 | ) | |||||||||||||
Total Unrealized Depreciation | $ | (2,808 | ) | |||||||||||||||||||
Net Unrealized Appreciation (Depreciation) | $ | 24,917 |
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(d) | ||||||||||||||||||
Common Stocks | $ | — | $ | 6,213,984 | $ | — | $ | 6,213,984 | ||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 36,999 | — | — | 36,999 | ||||||||||||||
Total Investments in Securities | 36,999 | 6,213,984 | — | 6,250,983 | ||||||||||||||
Other Financial Instruments:(e) | ||||||||||||||||||
Forward Foreign Currency Contracts | — | 27,725 | — | 27,725 | ||||||||||||||
Total Investments in Securities and Other Financial Instruments | $ | 36,999 | $ | 6,241,709 | $ | — | $ | 6,278,708 | ||||||||||
Liability Valuation Inputs | ||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Other Financial Instruments:(e) | ||||||||||||||||||
Forward Foreign Currency Contracts | $ | — | $ | 2,808 | $ | — | $ | 2,808 |
(d) | For a complete listing of investments and their industries, see the Schedules of Investments. |
(e) | Reflects the unrealized appreciation (depreciation) of the instruments. |
See notes to financial statements.
Schedules of Investments — IQ Chaikin U.S. Small Cap ETF
April 30, 2019
Shares | Value | |||||||||
Common Stocks — 100.0% | ||||||||||
Basic Materials — 8.4% | ||||||||||
AdvanSix, Inc.* | 54,839 | $ | 1,657,783 | |||||||
Arch Coal, Inc., Class A(a) | 17,166 | 1,664,759 | ||||||||
Commercial Metals Co. | 91,730 | 1,586,012 | ||||||||
Encore Wire Corp. | 27,381 | 1,623,419 | ||||||||
Global Brass & Copper Holdings, Inc. | 45,492 | 1,973,898 | ||||||||
Innophos Holdings, Inc. | 51,982 | 1,673,301 | ||||||||
Insteel Industries, Inc.(a) | 74,893 | 1,568,259 | ||||||||
Kraton Corp.* | 48,687 | 1,597,907 | ||||||||
Landec Corp.*(a) | 127,585 | 1,340,918 | ||||||||
Materion Corp. | 27,458 | 1,593,388 | ||||||||
Mueller Industries, Inc. | 49,992 | 1,458,267 | ||||||||
OMNOVA Solutions, Inc.* | 223,183 | 1,651,554 | ||||||||
Schnitzer Steel Industries, Inc., Class A | 65,281 | 1,548,465 | ||||||||
SunCoke Energy, Inc.* | 184,541 | 1,588,898 | ||||||||
Universal Forest Products, Inc. | 52,418 | 1,936,845 | ||||||||
Verso Corp., Class A* | 73,144 | 1,632,574 | ||||||||
Warrior Met Coal, Inc. | 51,538 | 1,597,678 | ||||||||
ZAGG, Inc.* | 172,740 | 1,423,378 | ||||||||
Total Basic Materials | 29,117,303 | |||||||||
Consumer Goods — 9.6% | ||||||||||
ACCO Brands Corp. | 183,032 | 1,672,912 | ||||||||
Beazer Homes USA, Inc.*(a) | 136,121 | 1,809,048 | ||||||||
Central Garden & Pet Co., Class A* | 67,387 | 1,649,634 | ||||||||
Century Communities, Inc.*(a) | 65,363 | 1,662,181 | ||||||||
Dana, Inc. | 88,317 | 1,722,181 | ||||||||
Edgewell Personal Care Co.* | 35,697 | 1,471,787 | ||||||||
Fitbit, Inc., Class A* | 264,653 | 1,397,368 | ||||||||
Fresh Del Monte Produce, Inc. | 57,963 | 1,710,488 | ||||||||
Herman Miller, Inc. | 44,536 | 1,728,888 | ||||||||
Hooker Furniture Corp. | 54,344 | 1,619,995 | ||||||||
Knoll, Inc. | 82,853 | 1,809,509 | ||||||||
M/I Homes, Inc.* | 58,856 | 1,657,974 | ||||||||
Meritor, Inc.* | 76,990 | 1,867,777 | ||||||||
Modine Manufacturing Co.* | 112,959 | 1,670,664 | ||||||||
REV Group, Inc. | 143,082 | 1,815,711 | ||||||||
Taylor Morrison Home Corp., Class A* | 88,267 | 1,708,849 | ||||||||
Tower International, Inc. | 74,501 | 1,738,853 | ||||||||
Unifi, Inc.* | 80,969 | 1,635,574 | ||||||||
Universal Electronics, Inc.* | 42,173 | 1,604,683 | ||||||||
USANA Health Sciences, Inc.* | 18,681 | 1,559,116 | ||||||||
Total Consumer Goods | 33,513,192 | |||||||||
Consumer Services — 10.6% | ||||||||||
Abercrombie & Fitch Co., Class A(a) | 57,160 | 1,708,513 | ||||||||
Bloomin’ Brands, Inc. | 76,613 | 1,531,494 | ||||||||
Career Education Corp.* | 94,840 | 1,721,346 | ||||||||
Carrols Restaurant Group, Inc.* | 157,146 | 1,541,602 | ||||||||
Central European Media Enterprises Ltd., Class A* | 393,655 | 1,558,874 | ||||||||
Envestnet, Inc.* | 23,960 | 1,700,920 | ||||||||
Gray Television, Inc.* | 73,349 | 1,718,567 | ||||||||
Group 1 Automotive, Inc. | 24,216 | 1,896,355 | ||||||||
Houghton Mifflin Harcourt Co.* | 215,509 | 1,536,579 | ||||||||
J. Jill, Inc.(a) | 285,382 | 1,600,993 | ||||||||
JC Penney Co., Inc.*(a) | 1,051,509 | 1,440,567 | ||||||||
K12, Inc.* | 45,906 | 1,382,689 | ||||||||
Liberty TripAdvisor Holdings, Inc., Class A* | 110,413 | 1,627,488 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Consumer Services (continued) | ||||||||||
Lithia Motors, Inc., Class A | 16,893 | $ | 1,917,693 | |||||||
Marcus Corp. (The) | 39,120 | 1,471,694 | ||||||||
MarineMax, Inc.*(a) | 81,772 | 1,413,838 | ||||||||
Meredith Corp. | 28,352 | 1,672,768 | ||||||||
Nexstar Media Group, Inc., Class A(a) | 14,458 | 1,692,309 | ||||||||
Office Depot, Inc. | 431,611 | 1,035,866 | ||||||||
Sinclair Broadcast Group, Inc., Class A | 40,716 | 1,864,386 | ||||||||
TEGNA, Inc.(a) | 111,117 | 1,768,983 | ||||||||
Titan Machinery, Inc.* | 100,690 | 1,731,868 | ||||||||
Tribune Publishing Co.* | 132,888 | 1,429,875 | ||||||||
Total Consumer Services | 36,965,267 | |||||||||
Financials — 24.7% | ||||||||||
Alexander & Baldwin, Inc. | 61,586 | 1,454,661 | ||||||||
Altisource Portfolio Solutions SA* | 66,192 | 1,566,765 | ||||||||
Ashford Hospitality Trust, Inc. | 329,842 | 1,817,429 | ||||||||
B. Riley Financial, Inc.(a) | 93,874 | 1,701,936 | ||||||||
Bancorp, Inc. (The)* | 193,904 | 1,979,760 | ||||||||
BBX Capital Corp. | 264,653 | 1,466,178 | ||||||||
Braemar Hotels & Resorts, Inc. | 128,316 | 1,783,592 | ||||||||
Byline Bancorp, Inc.* | 84,781 | 1,697,316 | ||||||||
Camden National Corp. | 37,553 | 1,651,581 | ||||||||
Capstead Mortgage Corp. | 182,392 | 1,566,747 | ||||||||
CBL & Associates Properties, Inc.(a) | 1,010,806 | 1,020,914 | ||||||||
CNO Financial Group, Inc. | 96,833 | 1,602,586 | ||||||||
Community Trust Bancorp, Inc. | 38,157 | 1,612,133 | ||||||||
CorePoint Lodging, Inc. | 140,264 | 1,753,300 | ||||||||
Cowen, Inc.*(a) | 108,126 | 1,811,110 | ||||||||
Enova International, Inc.* | 68,657 | 1,883,262 | ||||||||
EZCORP, Inc., Class A*(a) | 168,106 | 1,827,312 | ||||||||
First Busey Corp. | 64,211 | 1,659,212 | ||||||||
First Commonwealth Financial Corp. | 124,345 | 1,692,335 | ||||||||
First Defiance Financial Corp. | 54,515 | 1,608,738 | ||||||||
First Financial Corp. | 37,303 | 1,535,765 | ||||||||
First Foundation, Inc. | 115,457 | 1,640,644 | ||||||||
First Midwest Bancorp, Inc. | 76,576 | 1,644,087 | ||||||||
Flagstar Bancorp, Inc.(a) | 47,592 | 1,701,414 | ||||||||
Great Southern Bancorp, Inc. | 30,188 | 1,749,395 | ||||||||
Great Western Bancorp, Inc. | 49,596 | 1,744,291 | ||||||||
Heritage Insurance Holdings, Inc. | 107,312 | 1,463,736 | ||||||||
Hertz Global Holdings, Inc.* | 90,198 | 1,639,800 | ||||||||
Hilltop Holdings, Inc. | 85,849 | 1,805,404 | ||||||||
Independent Bank Corp. | 72,872 | 1,568,934 | ||||||||
INTL. FCStone, Inc.* | 40,422 | 1,639,516 | ||||||||
iStar, Inc. | 186,074 | 1,613,262 | ||||||||
Mercury General Corp.(a) | 31,292 | 1,682,884 | ||||||||
Meta Financial Group, Inc.(a) | 79,611 | 2,050,779 | ||||||||
National General Holdings Corp. | 66,024 | 1,627,492 | ||||||||
New Senior Investment Group, Inc. | 287,477 | 1,606,996 | ||||||||
Oppenheimer Holdings, Inc., Class A | 60,213 | 1,580,591 | ||||||||
Orchid Island Capital, Inc. | 238,107 | 1,564,363 | ||||||||
Outfront Media, Inc. | 66,955 | 1,595,538 | ||||||||
Pacific Premier Bancorp, Inc. | 59,056 | 1,716,758 | ||||||||
PennyMac Financial Services, Inc. | 70,447 | 1,570,968 | ||||||||
Peoples Bancorp, Inc. | 50,589 | 1,653,249 | ||||||||
Piper Jaffray Cos. | 21,513 | 1,733,948 | ||||||||
QCR Holdings, Inc. | 46,190 | 1,580,160 |
See notes to financial statements.
Schedules of Investments — IQ Chaikin U.S. Small Cap ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Financials (continued) | ||||||||||
Simmons First National Corp., Class A(a) | 64,001 | $ | 1,624,985 | |||||||
South State Corp. | 22,925 | 1,734,506 | ||||||||
TriState Capital Holdings, Inc.* | 76,689 | 1,783,786 | ||||||||
United Community Financial Corp. | 167,567 | 1,543,292 | ||||||||
United Financial Bancorp, Inc. | 109,181 | 1,440,097 | ||||||||
Univest Financial Corp. | 64,054 | 1,615,442 | ||||||||
Veritex Holdings, Inc. | 64,688 | 1,714,879 | ||||||||
Walker & Dunlop, Inc. | 30,774 | 1,691,031 | ||||||||
Total Financials | 86,014,859 | |||||||||
Health Care — 3.1% | ||||||||||
Akebia Therapeutics, Inc.*(a) | 191,300 | 1,155,452 | ||||||||
Assertio Therapeutics, Inc.*(a) | 309,024 | 1,288,630 | ||||||||
Eagle Pharmaceuticals, Inc.* | 31,030 | 1,595,253 | ||||||||
Lannett Co., Inc.*(a) | 199,078 | 1,530,910 | ||||||||
Lantheus Holdings, Inc.* | 64,001 | 1,546,264 | ||||||||
Tivity Health, Inc.*(a) | 89,223 | 1,929,001 | ||||||||
Triple-S Management Corp., Class B* | 68,657 | 1,559,887 | ||||||||
Total Health Care | 10,605,397 | |||||||||
Industrials — 30.1% | ||||||||||
AAR Corp. | 48,193 | 1,627,478 | ||||||||
ABM Industries, Inc.(a) | 43,102 | 1,636,583 | ||||||||
Alamo Group, Inc. | 15,677 | 1,624,764 | ||||||||
American Woodmark Corp.*(a) | 18,961 | 1,705,163 | ||||||||
Anixter International, Inc.* | 27,923 | 1,755,519 | ||||||||
Astec Industries, Inc. | 41,492 | 1,398,695 | ||||||||
Atkore International Group, Inc.* | 72,770 | 1,801,785 | ||||||||
Atlas Air Worldwide Holdings, Inc.* | 30,988 | 1,496,411 | ||||||||
Barrett Business Services, Inc. | 20,260 | 1,476,144 | ||||||||
Benchmark Electronics, Inc. | 59,686 | 1,613,313 | ||||||||
Blue Bird Corp.* | 92,542 | 1,601,902 | ||||||||
BMC Stock Holdings, Inc.* | 88,667 | 1,824,767 | ||||||||
Builders FirstSource, Inc.* | 117,448 | 1,618,433 | ||||||||
CBIZ, Inc.* | 77,408 | 1,494,748 | ||||||||
Core-Mark Holding Co., Inc. | 42,196 | 1,533,825 | ||||||||
CRA International, Inc. | 31,001 | 1,614,532 | ||||||||
CSG Systems International, Inc. | 37,039 | 1,653,791 | ||||||||
Daseke, Inc.*(a) | 307,809 | 1,588,294 | ||||||||
Ducommun, Inc.* | 36,001 | 1,460,921 | ||||||||
Echo Global Logistics, Inc.* | 63,227 | 1,450,427 | ||||||||
EnerSys | 24,044 | 1,663,604 | ||||||||
Federal Signal Corp. | 60,283 | 1,734,342 | ||||||||
GMS, Inc.* | 103,621 | 1,825,802 | ||||||||
Greif, Inc., Class A | 37,982 | 1,501,049 | ||||||||
Griffon Corp.(a) | 84,781 | 1,663,403 | ||||||||
Hackett Group, Inc. (The) | 99,161 | 1,522,121 | ||||||||
Hawkins, Inc. | 42,540 | 1,570,151 | ||||||||
Heidrick & Struggles International, Inc. | 40,875 | 1,462,507 | ||||||||
Integer Holdings Corp.* | 20,773 | 1,435,207 | ||||||||
JELD-WEN Holding, Inc.* | 88,718 | 1,752,181 | ||||||||
Kelly Services, Inc., Class A | 71,022 | 1,580,950 | ||||||||
Kforce, Inc. | 44,611 | 1,606,888 | ||||||||
Kimball Electronics, Inc.* | 101,146 | 1,530,339 | ||||||||
Kimball International, Inc., Class B | 110,803 | 1,735,175 | ||||||||
Manitowoc Co., Inc. (The)* | 95,476 | 1,705,201 | ||||||||
ManTech International Corp., Class A | �� | 29,003 | 1,797,896 | |||||||
Methode Electronics, Inc. | 54,439 | 1,606,495 | ||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Industrials (continued) | ||||||||||
MYR Group, Inc.* | 45,242 | $ | 1,635,498 | |||||||
NCI Building Systems, Inc.* | 254,342 | 1,454,836 | ||||||||
Patrick Industries, Inc.*(a) | 34,570 | 1,724,006 | ||||||||
Perficient, Inc.* | 57,202 | 1,684,027 | ||||||||
Providence Service Corp. (The)* | 23,517 | 1,559,883 | ||||||||
Quanex Building Products Corp. | 98,600 | 1,648,592 | ||||||||
Resources Connection, Inc. | 94,724 | 1,521,267 | ||||||||
Rush Enterprises, Inc., Class A | 37,473 | 1,589,230 | ||||||||
Sanmina Corp.* | 54,307 | 1,842,093 | ||||||||
Silgan Holdings, Inc. | 52,877 | 1,583,137 | ||||||||
SP Plus Corp.* | 45,919 | 1,585,124 | ||||||||
Spartan Motors, Inc. | 177,435 | 1,650,146 | ||||||||
SPX Corp.* | 45,035 | 1,643,778 | ||||||||
Sterling Construction Co., Inc.* | 125,139 | 1,696,885 | ||||||||
SunPower Corp.*(a) | 240,668 | 1,737,623 | ||||||||
Sykes Enterprises, Inc.* | 55,402 | 1,537,406 | ||||||||
Titan International, Inc. | 262,436 | 1,818,681 | ||||||||
TrueBlue, Inc.* | 66,275 | 1,601,204 | ||||||||
TTEC Holdings, Inc. | 43,244 | 1,576,676 | ||||||||
TTM Technologies, Inc.*(a) | 133,568 | 1,768,440 | ||||||||
Tutor Perini Corp.*(a) | 91,515 | 1,827,555 | ||||||||
Universal Logistics Holdings, Inc. | 79,611 | 1,944,101 | ||||||||
Vectrus, Inc.* | 58,923 | 2,389,328 | ||||||||
Vishay Intertechnology, Inc. | 84,827 | 1,680,423 | ||||||||
Werner Enterprises, Inc.(a) | 45,879 | 1,536,947 | ||||||||
Wesco Aircraft Holdings, Inc.* | 178,242 | 1,504,362 | ||||||||
YRC Worldwide, Inc.*(a) | 234,193 | 1,594,854 | ||||||||
Total Industrials | 105,006,908 | |||||||||
Oil & Gas — 0.4% | ||||||||||
Select Energy Services, Inc., Class A*(a) | 130,345 | 1,501,574 | ||||||||
Technology — 12.7% | ||||||||||
A10 Networks, Inc.* | 220,980 | 1,427,531 | ||||||||
Amkor Technology, Inc.* | 183,460 | 1,662,148 | ||||||||
Avaya Holdings Corp.*(a) | 93,092 | 1,776,195 | ||||||||
Calix, Inc.* | 203,474 | 1,393,797 | ||||||||
Carbonite, Inc.*(a) | 63,150 | 1,549,069 | ||||||||
ChannelAdvisor Corp.* | 128,633 | 1,511,438 | ||||||||
Computer Programs & Systems, Inc. | 52,770 | 1,603,680 | ||||||||
Comtech Telecommunications Corp. | �� | �� | 67,474 | 1,587,663 | ||||||
Endurance International Group Holdings, Inc.* | 216,103 | 1,195,050 | ||||||||
ePlus, Inc.* | 17,696 | 1,668,556 | ||||||||
Insight Enterprises, Inc.* | 28,455 | 1,609,984 | ||||||||
Limelight Networks, Inc.* | 485,062 | 1,440,634 | ||||||||
MagnaChip Semiconductor Corp.* | 211,723 | 1,873,749 | ||||||||
MobileIron, Inc.* | 286,426 | 1,698,506 | ||||||||
Monotype Imaging Holdings, Inc. | 78,770 | 1,357,995 | ||||||||
Nanometrics, Inc.* | 50,737 | 1,511,455 | ||||||||
OneSpan, Inc.* | 81,516 | 1,511,307 | ||||||||
PC Connection, Inc. | 42,725 | 1,587,661 | ||||||||
Photronics, Inc.* | 165,793 | 1,548,507 | ||||||||
Presidio, Inc. | 105,861 | 1,590,032 | ||||||||
Progress Software Corp. | 35,311 | 1,610,535 | ||||||||
Rambus, Inc.* | 149,928 | 1,718,175 | ||||||||
Ribbon Communications, Inc.* | 304,223 | 1,630,635 | ||||||||
ScanSource, Inc.* | 43,740 | 1,646,811 | ||||||||
SMART Global Holdings, Inc.*(a) | 81,602 | 1,774,027 | ||||||||
Tech Data Corp.* | 15,299 | 1,631,026 |
See notes to financial statements.
Schedules of Investments — IQ Chaikin U.S. Small Cap ETF(continued)
April 30, 2019
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Technology (continued) | ||||||||||
Unisys Corp.* | 134,255 | $ | 1,504,999 | |||||||
Verint Systems, Inc.* | 26,173 | 1,580,587 | ||||||||
Total Technology | 44,201,752 | |||||||||
Utilities — 0.4% | ||||||||||
Black Hills Corp. | 21,152 | 1,539,019 | ||||||||
Total Common Stocks | ||||||||||
(Cost $349,870,502) | 348,465,271 | |||||||||
Short-Term Investment — 0.0%(b) | ||||||||||
Money Market Fund — 0.0%(b) | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 2.32%(c) | ||||||||||
(Cost $91,353) | 91,353 | 91,353 | ||||||||
Investment of Cash Collateral For Securities Loaned — 1.5% | ||||||||||
Money Market Fund — 1.5% | ||||||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.45%(c) | ||||||||||
(Cost $5,238,855) | 5,238,855 | 5,238,855 | ||||||||
Shares | Value | |||||||||
Total Investments — 101.5% | ||||||||||
(Cost $355,200,710) | $ | 353,795,479 | ||||||||
Other Assets and Liabilities, Net — (1.5)% | (5,240,757 | ) | ||||||||
Net Assets — 100.0% | $ | 348,554,722 |
* | Non-income producing securities. |
(a) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $36,791,699; total market value of collateral held by the Fund was $38,108,611. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $32,869,756. |
(b) | Less than 0.05%. |
(c) | Reflects the 1-day yield at April 30, 2019. |
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(d) | ||||||||||||||||||
Common Stocks | $ | 348,465,271 | $ | — | $ | — | $ | 348,465,271 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 91,353 | — | — | 91,353 | ||||||||||||||
Investment of Cash Collateral for Securities Loaned: | ||||||||||||||||||
Money Market Fund | 5,238,855 | — | — | 5,238,855 | ||||||||||||||
Total Investments in Securities | $ | 353,795,479 | $ | — | $ | — | $ | 353,795,479 |
(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, 2019
Shares | Value | |||||||||
Common Stocks — 99.8% | ||||||||||
Basic Materials — 1.5% | ||||||||||
DowDuPont, Inc. | 110,656 | $ | 4,254,723 | |||||||
Consumer Goods — 5.8% | ||||||||||
Archer-Daniels-Midland Co. | 92,208 | 4,112,477 | ||||||||
General Motors Co. | 106,280 | 4,139,606 | ||||||||
Kimberly-Clark Corp. | 31,801 | 4,082,612 | ||||||||
Philip Morris International, Inc. | 45,123 | 3,905,847 | ||||||||
Total Consumer Goods | 16,240,542 | |||||||||
Consumer Services — 10.1% | ||||||||||
AutoZone, Inc.* | 3,880 | 3,989,843 | ||||||||
Carnival Corp. | 78,249 | 4,292,740 | ||||||||
CVS Health Corp. | 73,800 | 4,013,244 | ||||||||
Expedia Group, Inc. | 33,089 | 4,296,276 | ||||||||
McKesson Corp. | 34,165 | 4,074,176 | ||||||||
Starbucks Corp. | 53,255 | 4,136,848 | ||||||||
Walgreens Boots Alliance, Inc. | 63,022 | 3,376,089 | ||||||||
Total Consumer Services | 28,179,216 | |||||||||
Financials — 34.3% | ||||||||||
Allstate Corp. (The) | 41,917 | 4,152,298 | ||||||||
Ameriprise Financial, Inc. | 31,017 | 4,552,365 | ||||||||
Bank of America Corp. | 144,102 | 4,406,639 | ||||||||
Bank of New York Mellon Corp. (The) | 78,161 | 3,881,475 | ||||||||
BB&T Corp.(a) | 85,038 | 4,353,946 | ||||||||
Capital One Financial Corp. | 48,636 | 4,514,880 | ||||||||
Citigroup, Inc. | 63,543 | 4,492,490 | ||||||||
Citizens Financial Group, Inc. | 121,440 | 4,396,128 | ||||||||
Fifth Third Bancorp | 157,282 | 4,532,867 | ||||||||
Hartford Financial Services Group, Inc. (The) | 79,800 | 4,174,338 | ||||||||
KeyCorp(a) | 250,861 | 4,402,611 | ||||||||
M&T Bank Corp. | 25,034 | 4,257,532 | ||||||||
MetLife, Inc. | 92,734 | 4,277,819 | ||||||||
Morgan Stanley | 93,938 | 4,532,509 | ||||||||
Northern Trust Corp. | 43,719 | 4,308,508 | ||||||||
PNC Financial Services Group, Inc. (The) | 32,049 | 4,388,470 | ||||||||
Progressive Corp. (The) | 55,020 | 4,299,813 | ||||||||
Prudential Financial, Inc. | 42,962 | 4,541,513 | ||||||||
Regions Financial Corp. | 277,965 | 4,316,796 | ||||||||
SunTrust Banks, Inc. | 66,774 | 4,372,362 | ||||||||
Synchrony Financial | 123,735 | 4,289,892 | ||||||||
Wells Fargo & Co. | 82,101 | 3,974,509 | ||||||||
Total Financials | 95,419,760 | |||||||||
Health Care — 15.5% | ||||||||||
AbbVie, Inc. | 49,265 | 3,911,148 | ||||||||
Allergan PLC | 27,080 | 3,980,760 | ||||||||
Baxter International, Inc. | 48,788 | 3,722,525 | ||||||||
Biogen, Inc.* | 16,926 | 3,880,116 | ||||||||
Boston Scientific Corp.* | 103,878 | 3,855,951 | ||||||||
Centene Corp.* | 74,565 | 3,844,571 | ||||||||
Cigna Corp. | 24,658 | 3,916,677 | ||||||||
IDEXX Laboratories, Inc.* | 17,872 | 4,146,304 | ||||||||
Medtronic PLC | 43,779 | 3,888,013 | ||||||||
Thermo Fisher Scientific, Inc. | 14,567 | 4,041,614 | ||||||||
Zimmer Biomet Holdings, Inc. | 31,025 | 3,821,039 | ||||||||
Total Health Care | 43,008,718 | |||||||||
Shares | Value | |||||||||
Common Stocks (continued) | ||||||||||
Industrials — 12.0% | ||||||||||
Accenture PLC, Class A | 22,495 | $ | 4,109,162 | |||||||
Agilent Technologies, Inc. | 49,418 | 3,879,313 | ||||||||
Cummins, Inc. | 25,261 | 4,200,652 | ||||||||
Danaher Corp. | 30,336 | 4,017,700 | ||||||||
Fidelity National Information Services, Inc. | 35,075 | 4,066,245 | ||||||||
Honeywell International, Inc. | 24,831 | 4,311,406 | ||||||||
TE Connectivity Ltd. | 49,231 | 4,708,945 | ||||||||
TransDigm Group, Inc.* | 8,770 | 4,231,700 | ||||||||
Total Industrials | 33,525,123 | |||||||||
Oil & Gas — 2.9% | ||||||||||
Marathon Petroleum Corp. | 66,276 | 4,034,220 | ||||||||
Phillips 66 | 41,665 | 3,927,760 | ||||||||
Total Oil & Gas | 7,961,980 | |||||||||
Technology — 14.8% | ||||||||||
Applied Materials, Inc. | 100,020 | 4,407,881 | ||||||||
Broadcom, Inc. | 13,159 | 4,189,826 | ||||||||
Cognizant Technology Solutions Corp., Class A | 55,023 | 4,014,478 | ||||||||
DXC Technology Co. | 61,234 | 4,025,523 | ||||||||
HP, Inc. | 204,139 | 4,072,573 | ||||||||
Intel Corp. | 74,164 | 3,785,331 | ||||||||
Micron Technology, Inc.* | 95,979 | 4,036,877 | ||||||||
Microsoft Corp. | 33,682 | 4,398,869 | ||||||||
Motorola Solutions, Inc. | 28,296 | 4,100,373 | ||||||||
Oracle Corp. | 74,038 | 4,096,523 | ||||||||
Total Technology | 41,128,254 | |||||||||
Utilities — 2.9% | ||||||||||
Duke Energy Corp. | 44,071 | 4,015,750 | ||||||||
Edison International | 64,064 | 4,085,361 | ||||||||
Total Utilities | 8,101,111 | |||||||||
Total Common Stocks | ||||||||||
(Cost $285,107,179) | 277,819,427 | |||||||||
Short-Term Investment — 0.1% | ||||||||||
Money Market Fund — 0.1% | ||||||||||
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio — Institutional Class, 2.32%(b) | ||||||||||
(Cost $398,968) | 398,968 | 398,968 | ||||||||
Total Investments — 99.9% | ||||||||||
(Cost $285,506,147) | 278,218,395 | |||||||||
Other Assets and Liabilities, Net — 0.1% | 193,195 | |||||||||
Net Assets — 100.0% | $ | 278,411,590 |
* | 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 $8,581,399; total market value of collateral held consisted of non-cash U.S. Treasury securities collateral having a value of $8,764,057. |
(b) | Reflects the 1-day yield at April 30, 2019. |
See notes to financial statements.
Schedules of Investments — IQ Chaikin U.S. Large Cap ETF(continued)
April 30, 2019
Asset Valuation Inputs
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(c) | ||||||||||||||||||
Common Stocks | $ | 277,819,427 | $ | — | $ | — | $ | 277,819,427 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 398,968 | — | — | 398,968 | ||||||||||||||
Total Investments in Securities | $ | 278,218,395 | $ | — | $ | — | $ | 278,218,395 |
(c) | 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 | |||||||||||||||
Assets | ||||||||||||||||||
Investments, at value (including securities on loan)(a) | $ | 1,081,834,254 | $ | 6,246,531 | $ | 18,385,504 | $ | 7,251,947 | ||||||||||
Cash | 4,384 | — | — | — | ||||||||||||||
Cash deposited at broker for swap collateral | 410,000 | — | — | — | ||||||||||||||
Due from broker | 1,006,789 | 5,871 | 11,041 | 13,232 | ||||||||||||||
Securities lending income receivable | 87,997 | 682 | 1,819 | 1,541 | ||||||||||||||
Dividend receivable | 3,416 | 11 | 59 | 30 | ||||||||||||||
Total Assets | 1,083,346,840 | 6,253,095 | 18,398,423 | 7,266,750 | ||||||||||||||
Liabilities | ||||||||||||||||||
Collateral for investments on loan | 86,985,349 | 991,018 | 2,613,985 | 789,998 | ||||||||||||||
Due to broker | 2,493,710 | 7,216 | 33,870 | 13,414 | ||||||||||||||
Advisory fees payable | 430,536 | 3,238 | 9,677 | 3,990 | ||||||||||||||
Trustee fees payable | 4,599 | 15 | 74 | 31 | ||||||||||||||
Compliance fees payable | 109 | 1 | 4 | 2 | ||||||||||||||
Accrued expenses and other liabilities | 10,465 | 143 | 207 | 118 | ||||||||||||||
Total Liabilities | 89,924,768 | 1,001,631 | 2,657,817 | 807,553 | ||||||||||||||
Net Assets | $ | 993,422,072 | $ | 5,251,464 | $ | 15,740,606 | $ | 6,459,197 | ||||||||||
Composition of Net Assets | ||||||||||||||||||
Paid-in capital | $ | 1,023,809,230 | $ | 10,631,662 | $ | 15,756,105 | $ | 6,729,719 | ||||||||||
Total distributable earnings/ (accumulated loss)(b) | (30,387,158 | ) | (5,380,198 | ) | (15,499 | ) | (270,522 | ) | ||||||||||
Net Assets | $ | 993,422,072 | $ | 5,251,464 | $ | 15,740,606 | $ | 6,459,197 | ||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||
Shares Outstanding (no par value, unlimited shares authorized) . | 32,800,000 | 200,000 | 600,000 | 300,000 | ||||||||||||||
Net Asset Value Per Share | $ | 30.29 | $ | 26.26 | $ | 26.23 | $ | 21.53 | ||||||||||
Investments, at cost | $ | 1,066,219,028 | $ | 6,192,879 | $ | 18,157,253 | $ | 7,147,828 | ||||||||||
(a) Market value of securities on loan | $ | 169,075,017 | $ | 1,199,595 | $ | 4,535,071 | $ | 1,462,836 |
(b) | Total distributable earnings has been aggregated to conform to the current presentation requirements per the adoption of the SEC’s Disclosure Update and Simplification. (See Note 10) |
See notes to financial statements.
Statements of Assets and Liabilities(continued)
April 30, 2019
IQ Hedge Event-Driven Tracker ETF | IQ Real Return ETF | IQ Leaders GTAA Tracker ETF | IQ Enhanced Core Bond U.S. ETF | |||||||||||||||
Assets | ||||||||||||||||||
Investments, at value (including securities on loan)(a) | $ | 4,430,150 | $ | 67,134,114 | $ | 47,693,106 | $ | 88,603,326 | ||||||||||
Cash | — | — | 1,730 | — | ||||||||||||||
Due from broker | 1,605 | — | 103,094 | — | ||||||||||||||
Securities lending income receivable | 181 | 3,802 | 1,348 | 1,604 | ||||||||||||||
Dividend receivable | 13 | 205 | 1,146 | 171 | ||||||||||||||
Total Assets | 4,431,949 | 67,138,121 | 47,800,424 | 88,605,101 | ||||||||||||||
Liabilities | ||||||||||||||||||
Collateral for investments on loan | 175,698 | 10,081,653 | 4,075,170 | — | ||||||||||||||
Advisory fees payable | 2,605 | 9,350 | 7,937 | 14,653 | ||||||||||||||
Due to broker | 534 | — | 41,200 | — | ||||||||||||||
Trustee fees payable | 20 | 266 | 208 | 335 | ||||||||||||||
Compliance fees payable | 2 | 13 | 12 | 21 | ||||||||||||||
Accrued expenses and other liabilities | 98 | 936 | 480 | 813 | ||||||||||||||
Total Liabilities | 178,957 | 10,092,218 | 4,125,007 | 15,822 | ||||||||||||||
Net Assets | $ | 4,252,992 | $ | 57,045,903 | $ | 43,675,417 | $ | 88,589,279 | ||||||||||
Composition of Net Assets | ||||||||||||||||||
Paid-in capital | $ | 4,239,373 | $ | 57,911,715 | $ | 44,501,063 | $ | 92,812,958 | ||||||||||
Total distributable earnings/ (accumulated loss)(b) | 13,619 | (865,812 | ) | (825,646 | ) | (4,223,679 | ) | |||||||||||
Net Assets | $ | 4,252,992 | $ | 57,045,903 | $ | 43,675,417 | $ | 88,589,279 | ||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||
Shares Outstanding (no par value, unlimited shares authorized) | 200,000 | 2,050,000 | 1,800,000 | 4,700,000 | ||||||||||||||
Net Asset Value Per Share | $ | 21.26 | $ | 27.83 | $ | 24.26 | $ | 18.85 | ||||||||||
Investments, at cost | $ | 4,351,663 | $ | 66,449,503 | $ | 46,031,397 | $ | 87,384,674 | ||||||||||
(a) Market value of securities on loan | $ | 1,116,268 | $ | 15,618,184 | $ | 6,257,252 | $ | 4,507,592 |
(b) | Total distributable earnings has been aggregated to conform to the current presentation requirements per the adoption of the SEC’s Disclosure Update and Simplification. (See Note 10) |
See notes to financial statements.
Statements of Assets and Liabilities(continued)
April 30, 2019
IQ Enhanced Core Plus Bond U.S. ETF | IQ Short Duration Enhanced Core Bond U.S. ETF | IQ Merger Arbitrage ETF | IQ Global Resources ETF | |||||||||||||||
Assets | ||||||||||||||||||
Investments, at value (including securities on loan)(a) | $ | 157,636,156 | $ | 3,891,522 | $ | 1,026,192,703 | $ | 178,459,068 | ||||||||||
Cash | — | — | 558,512 | — | ||||||||||||||
Cash deposited at broker for swap collateral | — | — | — | 1,125,028 | ||||||||||||||
Securities lending income receivable | 1,027 | 81 | 136,355 | 17,460 | ||||||||||||||
Dividend receivable | 491 | 14 | 304,072 | 365,797 | ||||||||||||||
Prepaid expenses | 91 | — | — | — | ||||||||||||||
Receivable for capital shares transactions | — | — | — | 1,231 | ||||||||||||||
Due from broker | — | — | 2,679,477 | 121,701 | ||||||||||||||
Reclaims receivable | — | — | 13,588 | 198,415 | ||||||||||||||
Total Assets | 157,637,765 | 3,891,617 | 1,029,884,707 | 180,288,700 | ||||||||||||||
Liabilities | ||||||||||||||||||
Collateral for investments on loan | 1,116,868 | 85,755 | 26,117,837 | 3,586,080 | ||||||||||||||
Advisory fees payable | 26,110 | 500 | 612,583 | 109,941 | ||||||||||||||
Trustee fees payable | 759 | 18 | 4,690 | 853 | ||||||||||||||
Due to broker | — | — | 17,274,379 | 1,269,480 | ||||||||||||||
Foreign currency due to custodian(b) | — | — | 65,707 | 8,586 | ||||||||||||||
Compliance fees payable | 36 | 1 | 300 | 46 | ||||||||||||||
Accrued expenses and other liabilities | 57 | 305 | 9,664 | 1,777 | ||||||||||||||
Total Liabilities | 1,143,830 | 86,579 | 44,085,160 | 4,976,763 | ||||||||||||||
Net Assets | $ | 156,493,935 | $ | 3,805,038 | $ | 985,799,547 | $ | 175,311,937 | ||||||||||
Composition of Net Assets | ||||||||||||||||||
Paid-in capital | $ | 174,290,200 | $ | 3,772,539 | $ | 1,005,308,523 | $ | 227,150,651 | ||||||||||
Total distributable earnings/(accumulated loss) | (17,796,265 | )(c) | 32,499 | (19,508,976 | )(c) | (51,838,714 | )(c) | |||||||||||
Net Assets | $ | 156,493,935 | $ | 3,805,038 | $ | 985,799,547 | $ | 175,311,937 | ||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||
Shares Outstanding (no par value, unlimited shares authorized) . | 8,150,000 | 150,000 | 31,300,000 | 6,500,000 | ||||||||||||||
Net Asset Value Per Share | $ | 19.20 | $ | 25.37 | $ | 31.50 | $ | 26.97 | ||||||||||
Investments, at cost | $ | 155,361,229 | $ | 3,857,755 | $ | 1,008,536,659 | $ | 176,522,198 | ||||||||||
(a) Market value of securities on loan | $ | 7,453,730 | $ | 84,111 | $ | 30,647,713 | $ | 5,535,999 | ||||||||||
(b) Cost of foreign currency | $ | — | $ | — | $ | (43,453 | ) | $ | (8,496 | ) |
(c) | Total distributable earnings has been aggregated to conform to the current presentation requirements per the adoption of the SEC’s Disclosure Update and Simplification. (See Note 10) |
See notes to financial statements.
Statements of Assets and Liabilities(continued)
April 30, 2019
IQ Global Agribusiness Small Cap ETF | IQ U.S. Real Estate Small Cap ETF | IQ S&P High Yield Low Volatility Bond ETF | IQ 500 International ETF | |||||||||||||||
Investments, at value (including securities on loan)(a) | $ | 10,440,874 | $ | 74,810,340 | $ | 66,447,964 | $ | 88,436,150 | ||||||||||
Cash | — | 4,650 | — | — | ||||||||||||||
Foreign currency(b) | — | — | — | 29,339 | ||||||||||||||
Dividend receivable | 55,474 | 80,111 | — | 442,413 | ||||||||||||||
Securities lending income receivable | 1,458 | 2,834 | 684 | 2,666 | ||||||||||||||
Reclaims receivable | 107 | — | — | 47,840 | ||||||||||||||
Receivable for investments sold | — | — | 4,590,668 | — | ||||||||||||||
Interest receivable | — | — | 875,498 | — | ||||||||||||||
Total Assets | 10,497,913 | 74,897,935 | 71,914,814 | 88,958,408 | ||||||||||||||
Liabilities | ||||||||||||||||||
Collateral for investments on loan | 594,995 | 3,241,315 | 1,729,250 | 3,265,837 | ||||||||||||||
Cash due to custodian | 32,770 | — | — | — | ||||||||||||||
Advisory fees payable | 6,027 | 40,528 | 23,274 | 16,611 | ||||||||||||||
Trustee fees payable | 49 | 337 | 347 | 404 | ||||||||||||||
Payable for investments purchased | — | — | 4,534,936 | — | ||||||||||||||
Compliance fees payable | 2 | 17 | 11 | 37 | ||||||||||||||
Accrued expenses and other liabilities | 149 | 743 | 1,252 | 941 | ||||||||||||||
Total Liabilities | 633,992 | 3,282,940 | 6,289,070 | 3,283,830 | ||||||||||||||
Net Assets | $ | 9,863,921 | $ | 71,614,995 | $ | 65,625,744 | $ | 85,674,578 | ||||||||||
Composition of Net Assets | �� | |||||||||||||||||
Paid-in capital | $ | 17,166,235 | $ | 79,611,394 | $ | 67,824,948 | $ | 79,513,105 | ||||||||||
Total distributable earnings/(accumulated loss) | (7,302,314 | )(c) | (7,996,399 | )(c) | (2,199,204 | )(c) | 6,161,473 | |||||||||||
Net Assets | $ | 9,863,921 | $ | 71,614,995 | $ | 65,625,744 | $ | 85,674,578 | ||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||
Shares Outstanding (no par value, unlimited shares authorized) | 300,000 | 2,850,000 | 2,650,000 | 3,100,000 | ||||||||||||||
Net Asset Value Per Share | $ | 32.88 | $ | 25.13 | $ | 24.76 | $ | 27.64 | ||||||||||
Investments, at cost | $ | 10,367,688 | $ | 78,162,131 | $ | 65,894,681 | $ | 83,159,539 | ||||||||||
(a) Market value of securities on loan | $ | 678,369 | $ | 14,857,669 | $ | 1,793,191 | $ | 3,158,681 | ||||||||||
(b) Cost of foreign currency | $ | — | $ | — | $ | — | $ | 29,409 |
(c) | Total distributable earnings has been aggregated to conform to the current presentation requirements per the adoption of the SEC’s Disclosure Update and Simplification. (See Note 10) |
See notes to financial statements.
Statements of Assets and Liabilities(continued)
April 30, 2019
IQ 50 Percent Hedged FTSE International ETF | IQ 50 Percent Hedged FTSE Europe ETF | IQ 50 Percent Hedged FTSE Japan ETF | IQ Chaikin U.S. Small Cap ETF | |||||||||||||||
Assets | ||||||||||||||||||
Investments, at value (including securities on loan)(a) | $ | 290,809,683 | $ | 9,575,212 | $ | 6,250,983 | $ | 353,795,479 | ||||||||||
Foreign currency(b) | 67,135 | 5,192 | 1,017 | — | ||||||||||||||
Dividend receivable | 1,390,895 | 28,715 | 61,498 | 87,656 | ||||||||||||||
Unrealized appreciation on forward foreign currency contracts . | 1,354,629 | 31,004 | 27,725 | — | ||||||||||||||
Reclaims receivable | 840,887 | 324,563 | 3,655 | — | ||||||||||||||
Securities lending income receivable | 6,179 | 268 | 53 | 11,560 | ||||||||||||||
Total Assets | 294,469,408 | 9,964,954 | 6,344,931 | 353,894,695 | ||||||||||||||
Liabilities | ||||||||||||||||||
Collateral for investments on loan | 9,981,686 | 696,634 | 36,999 | 5,238,855 | ||||||||||||||
Payable for investments purchased | 2,625,146 | 83,730 | 27,179 | — | ||||||||||||||
Cash due to custodian | 603,592 | 282,101 | 58,514 | — | ||||||||||||||
Unrealized depreciation on forward foreign currency contracts . | 127,041 | 2,066 | 2,808 | — | ||||||||||||||
Advisory fees payable | 48,398 | 2,119 | 1,409 | 96,127 | ||||||||||||||
Trustee fees payable | 1,487 | 2,531 | 28 | 1,585 | ||||||||||||||
Compliance fees payable | 56 | 121 | 1 | 57 | ||||||||||||||
Accrued expenses and other liabilities | 3,097 | 190 | 115 | 3,349 | ||||||||||||||
Total Liabilities | 13,390,503 | 1,069,492 | 127,053 | 5,339,973 | ||||||||||||||
Net Assets | $ | 281,078,905 | $ | 8,895,462 | $ | 6,217,878 | $ | 348,554,722 | ||||||||||
Composition of Net Assets | ||||||||||||||||||
Paid-in capital | $ | 304,873,817 | $ | 12,283,472 | $ | 7,725,011 | $ | 390,530,319 | ||||||||||
Total distributable earnings/ (accumulated loss)(c) | (23,794,912 | ) | (3,388,010 | ) | (1,507,133 | ) | (41,975,597 | ) | ||||||||||
Net Assets | $ | 281,078,905 | $ | 8,895,462 | $ | 6,217,878 | $ | 348,554,722 | ||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||
Shares Outstanding (no par value, unlimited shares authorized) . | 13,650,000 | 450,000 | 300,000 | 13,550,000 | ||||||||||||||
Net Asset Value Per Share | $ | 20.59 | $ | 19.77 | $ | 20.73 | $ | 25.72 | ||||||||||
Investments, at cost | $ | 311,563,141 | $ | 10,667,439 | $ | 6,251,768 | $ | 355,200,710 | ||||||||||
(a) Market value of securities on loan | $ | 10,204,882 | $ | 671,099 | $ | 52,929 | $ | 36,791,699 | ||||||||||
(b) Cost of foreign currency | $ | 66,942 | $ | 5,167 | $ | 1,014 | $ | — |
(c) | Total distributable earnings has been aggregated to conform to the current presentation requirements per the adoption of the SEC’s Disclosure Update and Simplification. (See Note 10) |
See notes to financial statements.
Statements of Assets and Liabilities(continued)
April 30, 2019
IQ Chaikin U.S. Large Cap ETF | |||||||
Assets | |||||||
Investments, at value (including securities on loan)(a) | $ | 278,218,395 | |||||
Cash | 271 | ||||||
Dividend receivable | 252,582 | ||||||
Securities lending income receivable | 370 | ||||||
Total Assets | 278,471,618 | ||||||
Liabilities | |||||||
Advisory fees payable | 55,541 | ||||||
Trustee fees payable | 1,427 | ||||||
Compliance fees payable | 53 | ||||||
Accrued expenses and other liabilities | 3,007 | ||||||
Total Liabilities | 60,028 | ||||||
Net Assets | $ | 278,411,590 | |||||
Composition of Net Assets | |||||||
Paid-in capital | $ | 306,415,357 | |||||
Total distributable earnings/(accumulated loss)(b) | (28,003,767 | ) | |||||
Net Assets | $ | 278,411,590 | |||||
NET ASSET VALUE PER SHARE | |||||||
Shares Outstanding (no par value, unlimited shares authorized) . | 11,250,000 | ||||||
Net Asset Value Per Share | $ | 24.75 | |||||
Investments, at cost | $ | 285,506,147 | |||||
(a) Market value of securities on loan | $ | 8,581,399 | |||||
(b) Total distributable earnings has been aggregated to conform to the current presentation requirements per the adoption of the SEC’s Disclosure Update and Simplification. (See Note 10) |
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 | |||||||||||||||
Investment Income | ||||||||||||||||||
Dividend income | $ | 31,584,200 | $ | 141,048 | $ | 384,655 | $ | 180,924 | ||||||||||
Securities lending income, net of borrower rebates | 2,029,415 | 13,964 | 19,161 | 7,736 | ||||||||||||||
Total investment income | 33,613,615 | 155,012 | 403,816 | 188,660 | ||||||||||||||
Expenses | ||||||||||||||||||
Advisory fees (See Note 3) | 8,587,212 | 47,173 | 104,012 | 50,223 | ||||||||||||||
Trustee fees | 62,009 | 329 | 758 | 358 | ||||||||||||||
Legal fees | 37,265 | 205 | 465 | 234 | ||||||||||||||
Compliance fees | 3,709 | 21 | 47 | 23 | ||||||||||||||
Miscellaneous | 1,144 | 95 | 57 | 57 | ||||||||||||||
Total expenses | 8,691,339 | 47,823 | 105,339 | 50,895 | ||||||||||||||
Waivers/Reimbursement (See Note 3) | (2,522,422 | ) | — | — | — | |||||||||||||
Net expenses | 6,168,917 | 47,823 | 105,339 | 50,895 | ||||||||||||||
Net investment income | 27,444,698 | 107,189 | 298,477 | 137,765 | ||||||||||||||
Realized and Unrealized Gain (Loss) on Investments and Swap Transactions | ||||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||||
Investment securities | (759,829 | ) | 4,734 | (21,202 | ) | (193,171 | ) | |||||||||||
In-Kind redemptions | 12,493,366 | 36,235 | 130,090 | 481,991 | ||||||||||||||
Swap transactions | (5,312,617 | ) | (779 | ) | (61,510 | ) | (36,091 | ) | ||||||||||
Net realized gain (loss) | 6,420,920 | 40,190 | 47,378 | 252,729 | ||||||||||||||
Net change in net unrealized appreciation (depreciation) on: | ||||||||||||||||||
Investment securities | (14,845,687 | ) | (113,656 | ) | 75,237 | (1,818 | ) | |||||||||||
Net change in net unrealized appreciation (depreciation) | (14,845,687 | ) | (113,656 | ) | 75,237 | (1,818 | ) | |||||||||||
Net realized and unrealized gain (loss) | (8,424,767 | ) | (73,466 | ) | 122,615 | 250,911 | ||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 19,019,931 | $ | 33,723 | $ | 421,092 | $ | 388,676 |
See notes to financial statements.
Statements of Operations(continued)
For the year ended April 30, 2019
IQ Hedge Event-Driven Tracker ETF | IQ Real Return ETF | IQ Leaders GTAA Tracker ETF | IQ Enhanced Core Bond U.S. ETF | |||||||||||||||
Investment Income | ||||||||||||||||||
Dividend income | $ | 135,764 | $ | 1,086,078 | $ | 1,354,428 | $ | 1,577,443 | ||||||||||
Securities lending income, net of borrower rebates | 7,075 | 42,327 | 58,785 | 168,343 | ||||||||||||||
Total investment income | 142,839 | 1,128,405 | 1,413,213 | 1,745,786 | ||||||||||||||
Expenses | ||||||||||||||||||
Advisory fees (See Note 3) | 24,917 | 253,347 | 200,435 | 158,801 | ||||||||||||||
Trustee fees | 182 | 2,915 | 2,427 | 3,420 | ||||||||||||||
Legal fees | 116 | 1,721 | 1,494 | 2,102 | ||||||||||||||
Compliance fees | 12 | 172 | 152 | 212 | ||||||||||||||
Miscellaneous | 57 | 240 | 57 | 57 | ||||||||||||||
Total expenses | 25,284 | 258,395 | 204,565 | 164,592 | ||||||||||||||
Waivers/Reimbursement (See Note 3) | — | (62,966 | ) | (39,242 | ) | (31,911 | ) | |||||||||||
Net expenses | 25,284 | 195,429 | 165,323 | 132,681 | ||||||||||||||
Net investment income | 117,555 | 932,976 | 1,247,890 | 1,613,105 | ||||||||||||||
Realized and Unrealized Gain (Loss) on Investments and Swap Transactions | ||||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||||
Investment securities | (51,183 | ) | (439,788 | ) | (1,420,694 | ) | (1,316,647 | ) | ||||||||||
In-Kind redemptions | 104,199 | 27,767 | 799,598 | (147,508 | ) | |||||||||||||
Swap transactions | 444 | — | (328,489 | ) | — | |||||||||||||
Net realized gain (loss) | 53,460 | (412,021 | ) | (949,585 | ) | (1,464,155 | ) | |||||||||||
Net change in net unrealized appreciation (depreciation) on: | ||||||||||||||||||
Investment securities | 31,980 | 791,516 | 1,222,240 | 2,739,537 | ||||||||||||||
Net change in net unrealized appreciation (depreciation) | 31,980 | 791,516 | 1,222,240 | 2,739,537 | ||||||||||||||
Net realized and unrealized gain (loss) | 85,440 | 379,495 | 272,655 | 1,275,382 | ||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 202,995 | $ | 1,312,471 | $ | 1,520,545 | $ | 2,888,487 |
See notes to financial statements.
Statements of Operations(continued)
For the year ended April 30, 2019
IQ Enhanced Core Plus Bond U.S. ETF | IQ Short Duration Enhanced Core Bond U.S. ETF** | IQ Merger Arbitrage ETF | IQ Global Resources ETF | |||||||||||||||
Investment Income | ||||||||||||||||||
Dividend income* | $ | 6,694,391 | $ | 30,088 | $ | 6,053,708 | $ | 6,881,702 | ||||||||||
Securities lending income, net of borrower rebates | 347,136 | 755 | 1,042,507 | 63,470 | ||||||||||||||
Dividend income from affiliates* | 283,334 | — | — | — | ||||||||||||||
Total investment income | 7,324,861 | 30,843 | 7,096,215 | 6,945,172 | ||||||||||||||
Expenses | ||||||||||||||||||
Advisory fees (See Note 3) | 572,525 | 2,643 | 5,468,960 | 1,663,902 | ||||||||||||||
Trustee fees | 12,423 | 82 | 40,234 | 11,980 | ||||||||||||||
Legal fees | 6,036 | 254 | 24,675 | 7,513 | ||||||||||||||
Compliance fees | 801 | 5 | 2,429 | 758 | ||||||||||||||
Miscellaneous | 57 | 65 | 57 | 57 | ||||||||||||||
Total expenses | 591,842 | 3,049 | 5,536,355 | 1,684,210 | ||||||||||||||
Waivers/Reimbursement (See Note 3) | (115,208 | ) | (406 | ) | — | — | ||||||||||||
Net expenses | 476,634 | 2,643 | 5,536,355 | 1,684,210 | ||||||||||||||
Net investment income | 6,848,227 | 28,200 | 1,559,860 | 5,260,962 | ||||||||||||||
Realized and Unrealized Gain (Loss) on Investments, Swap transactions and Forward foreign currency contracts and translation | ||||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||||
Investment securities | (8,926,552 | ) | (2,263 | ) | (3,996,393 | ) | (15,106,942 | ) | ||||||||||
Investment in affiliates | (304,337 | ) | — | — | — | |||||||||||||
In-Kind redemptions | (202,454 | ) | 19,115 | 20,569,693 | 9,465,273 | |||||||||||||
Affiliates In-Kind redemptions | (6,595 | ) | — | — | — | |||||||||||||
Swap transactions | — | — | (26,863,752 | ) | (994,330 | ) | ||||||||||||
Forward foreign currency contracts | — | — | (5,150 | ) | 54 | |||||||||||||
Foreign currency transactions | — | — | (995,827 | ) | (105,662 | ) | ||||||||||||
Net realized gain (loss) | (9,439,938 | ) | 16,852 | (11,291,429 | ) | (6,741,607 | ) | |||||||||||
Net change in net unrealized appreciation (depreciation) on: | ||||||||||||||||||
Investment securities | 9,889,834 | 33,767 | 20,509,066 | (6,406,019 | ) | |||||||||||||
Investment in affiliates | 149,188 | — | — | — | ||||||||||||||
Foreign currency translations | — | — | (12,417 | ) | (4,515 | ) | ||||||||||||
Net change in net unrealized appreciation (depreciation) | 10,039,022 | 33,767 | 20,496,649 | (6,410,534 | ) | |||||||||||||
Net realized and unrealized gain (loss) | 599,084 | 50,619 | 9,205,220 | (13,152,141 | ) | |||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 7,447,311 | $ | 78,819 | $ | 10,765,080 | $ | (7,891,179 | ) | |||||||||
* Net of foreign taxes withheld of: | $ | — | $ | — | $ | 23,763 | $ | 440,301 |
** | Commencement of operations December 18, 2018. |
See notes to financial statements.
Statements of Operations(continued)
For the year ended April 30, 2019
IQ Global Agribusiness Small Cap ETF | IQ U.S. Real Estate Small Cap ETF | IQ S&P High Yield Low Volatility Bond ETF | IQ 500 International ETF** | |||||||||||||||
Investment Income | ||||||||||||||||||
Dividend income* | $ | 183,824 | $ | 2,960,528 | $ | — | $ | 951,970 | ||||||||||
Interest income | — | — | 4,138,152 | — | ||||||||||||||
Securities lending income, net of borrower rebates | 9,883 | 34,674 | 2,500 | 4,469 | ||||||||||||||
Total investment income | 193,707 | 2,995,202 | 4,140,652 | 956,439 | ||||||||||||||
Expenses | ||||||||||||||||||
Advisory fees (See Note 3) | 80,875 | 542,471 | 343,624 | 57,555 | ||||||||||||||
Trustee fees | 584 | 4,252 | 4,670 | 1,361 | ||||||||||||||
Legal fees | 361 | 2,667 | 2,923 | 1,009 | ||||||||||||||
Compliance fees | 36 | 263 | 287 | 89 | ||||||||||||||
Miscellaneous | 57 | 57 | 838 | 57 | ||||||||||||||
Total expenses | 81,913 | 549,710 | 352,342 | 60,071 | ||||||||||||||
Waivers/Reimbursement (See Note 3) | — | — | (8,720 | ) | (2,515 | ) | ||||||||||||
Net expenses | 81,913 | 549,710 | 343,622 | 57,556 | ||||||||||||||
Net investment income | 111,794 | 2,445,492 | 3,797,030 | 898,883 | ||||||||||||||
Realized and Unrealized Gain (Loss) on Investments and Forward foreign currency translation | ||||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||||
Investment securities | 1,224,758 | (956,529 | ) | (1,761,134 | ) | 6,155 | ||||||||||||
In-Kind redemptions | 354,979 | 541,900 | (188,326 | ) | — | |||||||||||||
Foreign currency transactions | (2,539 | ) | — | — | (1,815 | ) | ||||||||||||
Net realized gain (loss) | 1,577,198 | (414,629 | ) | (1,949,460 | ) | 4,340 | ||||||||||||
Net change in net unrealized appreciation (depreciation) on: | ||||||||||||||||||
Investment securities | (1,979,040 | ) | 6,056,098 | 3,236,523 | 5,276,611 | |||||||||||||
Foreign currency translations | 1,037 | — | — | (3,017 | ) | |||||||||||||
Net change in net unrealized appreciation (depreciation) | (1,978,003 | ) | 6,056,098 | 3,236,523 | 5,273,594 | |||||||||||||
Net realized and unrealized gain (loss) | (400,805 | ) | 5,641,469 | 1,287,063 | 5,277,934 | |||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (289,011 | ) | $ | 8,086,961 | $ | 5,084,093 | $ | 6,176,817 | |||||||||
* Net of foreign taxes withheld of: | $ | 12,896 | $ | — | $ | — | $ | 109,011 |
** | Commencement of operations December 13, 2018. |
See notes to financial statements.
Statements of Operations(continued)
For the year ended April 30, 2019
IQ 50 Percent Hedged FTSE International ETF | IQ 50 Percent Hedged FTSE Europe ETF | IQ 50 Percent Hedged FTSE Japan ETF | IQ Chaikin U.S. Small Cap ETF | |||||||||||||||
Investment Income | ||||||||||||||||||
Dividend income* | $ | 14,501,609 | $ | 1,676,854 | $ | 425,858 | $ | 5,971,876 | ||||||||||
Securities lending income, net of borrower rebates | 41,638 | 4,946 | 3,609 | 54,609 | ||||||||||||||
Total investment income | 14,543,247 | 1,681,800 | 429,467 | 6,026,485 | ||||||||||||||
Expenses | ||||||||||||||||||
Advisory fees (See Note 3) | 1,576,189 | 107,449 | 114,345 | 1,545,749 | ||||||||||||||
Trustee fees | 24,176 | 3,674 | 1,358 | 23,894 | ||||||||||||||
Legal fees | 15,001 | 1,445 | 819 | 16,564 | ||||||||||||||
Compliance fees | 1,530 | 234 | 87 | 1,467 | ||||||||||||||
Miscellaneous | — | 43 | 57 | 57 | ||||||||||||||
Total expenses | 1,616,896 | 112,845 | 116,666 | 1,587,731 | ||||||||||||||
Waivers/Reimbursement (See Note 3) | (716,212 | ) | (41,212 | ) | (40,436 | ) | (41,982 | ) | ||||||||||
Net expenses | 900,684 | 71,633 | 76,230 | 1,545,749 | ||||||||||||||
Net investment income | 13,642,563 | 1,610,167 | 353,237 | 4,480,736 | ||||||||||||||
Realized and Unrealized Gain (Loss) on Investments, Swap transactions and Forward foreign currency contracts and translation | ||||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||||
Investment securities | (8,984,314 | ) | (80,675 | ) | (249,709 | ) | (32,925,984 | ) | ||||||||||
In-Kind redemptions | 7,157,285 | 12,747,491 | 2,630,764 | 7,093,159 | ||||||||||||||
Swap transactions | (58,365 | ) | (1,757 | ) | — | — | ||||||||||||
Forward foreign currency contracts | 23,209,042 | 4,377,403 | 798,491 | — | ||||||||||||||
Foreign currency transactions | (317,132 | ) | (49,788 | ) | (17,009 | ) | — | |||||||||||
Net realized gain (loss) | 21,006,516 | 16,992,674 | 3,162,537 | (25,832,825 | ) | |||||||||||||
Net change in net unrealized appreciation (depreciation) on: | ||||||||||||||||||
Investment securities | (48,574,841 | ) | (16,900,860 | ) | (6,410,965 | ) | (4,926,146 | ) | ||||||||||
Forward foreign currency contracts | (4,876,917 | ) | (1,771,299 | ) | (476,184 | ) | — | |||||||||||
Foreign currency translations | 10,772 | (2,204 | ) | 8,124 | — | |||||||||||||
Net change in net unrealized appreciation (depreciation) | (53,440,986 | ) | (18,674,363 | ) | (6,879,025 | ) | (4,926,146 | ) | ||||||||||
Net realized and unrealized gain (loss) | (32,434,470 | ) | (1,681,689 | ) | (3,716,488 | ) | (30,758,971 | ) | ||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (18,791,907 | ) | $ | (71,522 | ) | $ | (3,363,251 | ) | $ | (26,278,235 | ) | ||||||
* Net of foreign taxes withheld of: | $ | 1,287,812 | $ | 204,729 | $ | 59,180 | $ | 2,109 |
See notes to financial statements.
Statements of Operations(continued)
For the year ended April 30, 2019
IQ Chaikin U.S. Large Cap ETF | ||||||
Investment Income | ||||||
Dividend income* | $ | 8,092,540 | ||||
Securities lending income, net of borrower rebates | 2,507 | |||||
Total investment income | 8,095,047 | |||||
Expenses | ||||||
Advisory fees (See Note 3) | 912,282 | |||||
Trustee fees | 19,127 | |||||
Legal fees | 13,034 | |||||
Compliance fees | 1,126 | |||||
Miscellaneous | 621 | |||||
Total expenses | 946,190 | |||||
Waivers/Reimbursement (See Note 3) | (33,909 | ) | ||||
Net expenses | 912,281 | |||||
Net investment income | 7,182,766 | |||||
Realized and Unrealized Gain (Loss) on Investments | ||||||
Net realized gain (loss) from: | ||||||
Investment securities | (16,319,373 | ) | ||||
In-Kind redemptions | 21,793,312 | |||||
Net realized gain (loss) | 5,473,939 | |||||
Net change in net unrealized appreciation (depreciation) on: | ||||||
Investment securities | (10,090,415 | ) | ||||
Net change in net unrealized appreciation (depreciation) | (10,090,415 | ) | ||||
Net realized and unrealized gain (loss) | (4,616,476 | ) | ||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 2,566,290 | ||||
* Net of foreign taxes withheld of: | $ | 21,186 |
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, | ||||||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||
Net investment income | $ | 27,444,698 | $ | 20,581,898 | $ | 107,189 | $ | 96,282 | |||||||||||
Net realized gain (loss) | 6,420,920 | 9,264,374 | 40,190 | (70,917 | ) | ||||||||||||||
Net change in net unrealized appreciation (depreciation) | (14,845,687 | ) | 15,463,404 | (113,656 | ) | 197,348 | |||||||||||||
Net increase (decrease) in net assets resulting from operations | 19,019,931 | 45,309,676 | 33,723 | 222,713 | |||||||||||||||
Distributions to Shareholders | (24,498,116 | ) | —* | (69,928 | ) | —* | |||||||||||||
Capital Share Transactions | |||||||||||||||||||
Proceeds from shares created | 331,859,370 | 125,582,960 | — | — | |||||||||||||||
Cost of shares redeemed | (457,237,241 | ) | (109,193,905 | ) | (1,299,990 | ) | — | ||||||||||||
Net increase (decrease) from capital share transactions | (125,377,871 | ) | 16,389,055 | (1,299,990 | ) | — | |||||||||||||
Total increase (decrease) in net assets | (130,856,056 | ) | 61,698,731 | (1,336,195 | ) | 222,713 | |||||||||||||
Net Assets | |||||||||||||||||||
Beginning of year | 1,124,278,128 | 1,062,579,397 | 6,587,659 | 6,364,946 | |||||||||||||||
End of year | $ | 993,422,072 | $ | 1,124,278,128 | * | $ | 5,251,464 | $ | 6,587,659 | * | |||||||||
Changes in Shares Outstanding | |||||||||||||||||||
Shares outstanding, beginning of year | 37,000,000 | 36,450,000 | 250,000 | 250,000 | |||||||||||||||
Shares created | 11,150,000 | 4,150,000 | — | — | |||||||||||||||
Shares redeemed | (15,350,000 | ) | (3,600,000 | ) | (50,000 | ) | — | ||||||||||||
Shares outstanding, end of year | 32,800,000 | 37,000,000 | 200,000 | 250,000 |
* | For the year ended April 30, 2019, the requirement to disclose dividends and distributions paid to shareholders from net investment income and or net realized gain (loss) on investments was modified and now presented together as Distributions to Shareholders. End of period net assets included undistributed net investment income of $10,278,887 and $24,981 respectively at April 30, 2018. (See Note 10.) See Note 5 for tax basis of distributable earnings. |
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, | ||||||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||
Net investment income | $ | 298,477 | $ | 189,743 | $ | 137,765 | $ | 103,075 | |||||||||||
Net realized gain (loss) | 47,378 | (53,261 | ) | 252,729 | 16,362 | ||||||||||||||
Net change in net unrealized appreciation (depreciation) | 75,237 | 13,566 | (1,818 | ) | 56,690 | ||||||||||||||
Net increase (decrease) in net assets resulting from operations | 421,092 | 150,048 | 388,676 | 176,127 | |||||||||||||||
Distributions to Shareholders | — | —* | (190,276 | ) | (16,706 | )* | |||||||||||||
Capital Share Transactions | |||||||||||||||||||
Proceeds from shares created | 3,815,609 | 1,276,132 | 6,294,199 | 5,621,040 | |||||||||||||||
Cost of shares redeemed | (1,286,386 | ) | — | (8,797,572 | ) | (1,088,637 | ) | ||||||||||||
Net increase (decrease) from capital share transactions | 2,529,223 | 1,276,132 | (2,503,373 | ) | 4,532,403 | ||||||||||||||
Total increase (decrease) in net assets | 2,950,315 | 1,426,180 | (2,304,973 | ) | 4,691,824 | ||||||||||||||
Net Assets | |||||||||||||||||||
Beginning of year | 12,790,291 | 11,364,111 | 8,764,170 | 4,072,346 | |||||||||||||||
End of year | $ | 15,740,606 | $ | 12,790,291 | * | $ | 6,459,197 | $ | 8,764,170 | * | |||||||||
Changes in Shares Outstanding | |||||||||||||||||||
Shares outstanding, beginning of year | 500,000 | 450,000 | 400,001 | 200,001 | |||||||||||||||
Shares created | 150,000 | 50,000 | 300,000 | 250,000 | |||||||||||||||
Shares redeemed | (50,000 | ) | — | (400,001 | ) | (50,000 | ) | ||||||||||||
Shares outstanding, end of year | 600,000 | 500,000 | 300,000 | 400,001 |
* | For the year ended April 30, 2019, the requirement to disclose dividends and distributions paid to shareholders from net investment income and or net realized gain (loss) on investments was modified and now presented together as Distributions to Shareholders. End of period net assets included undistributed net investment income of $2,372 and $80,533 respectively at April 30, 2018. (See Note 10.) See Note 5 for tax basis of distributable earnings. |
See notes to financial statements.
Statements of Changes in Net Assets(continued)
IQ Hedge Event-Driven Tracker ETF | IQ Real Return ETF | ||||||||||||||||||
For the Year Ended April 30, | For the Year Ended April 30, | ||||||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||
Net investment income | $ | 117,555 | $ | 83,106 | $ | 932,976 | $ | 330,098 | |||||||||||
Net realized gain (loss) | 53,460 | 24,172 | (412,021 | ) | 628,896 | ||||||||||||||
Net change in net unrealized appreciation (depreciation) | 31,980 | 13,877 | 791,516 | (487,900 | ) | ||||||||||||||
Net increase (decrease) in net assets resulting from operations | 202,995 | 121,155 | 1,312,471 | 471,094 | |||||||||||||||
Distributions to Shareholders | (129,849 | ) | (70,341 | )* | (730,380 | ) | (308,837 | )* | |||||||||||
Capital Share Transactions | |||||||||||||||||||
Proceeds from shares created | 3,148,412 | — | 13,889,918 | 16,549,415 | |||||||||||||||
Cost of shares redeemed | (2,107,542 | ) | — | (2,745,538 | ) | — | |||||||||||||
Net increase from capital share transactions | 1,040,870 | — | 11,144,380 | 16,549,415 | |||||||||||||||
Total increase in net assets | 1,114,016 | 50,814 | 11,726,471 | 16,711,672 | |||||||||||||||
Net Assets | |||||||||||||||||||
Beginning of year | 3,138,976 | 3,088,162 | 45,319,432 | 28,607,760 | |||||||||||||||
End of year | $ | 4,252,992 | $ | 3,138,976 | * | $ | 57,045,903 | $ | 45,319,432 | * | |||||||||
Changes in Shares Outstanding | |||||||||||||||||||
Shares outstanding, beginning of year | 150,001 | 150,001 | 1,650,000 | 1,050,000 | |||||||||||||||
Shares created | 150,000 | — | 500,000 | 600,000 | |||||||||||||||
Shares redeemed | (100,001 | ) | — | (100,000 | ) | — | |||||||||||||
Shares outstanding, end of year | 200,000 | 150,001 | 2,050,000 | 1,650,000 |
* | For the year ended April 30, 2019, the requirement to disclose dividends and distributions paid to shareholders from net investment income and or net realized gain (loss) on investments was modified and now presented together as Distributions to Shareholders. End of period net assets included undistributed net investment income of $45,908 and $172,756 respectively at April 30, 2018. (See Note 10.) See Note 5 for tax basis of distributable earnings. |
See notes to financial statements.
Statements of Changes in Net Assets(continued)
IQ Leaders GTAA Tracker ETF | IQ Enhanced Core Bond U.S. ETF | ||||||||||||||||||
For the Year Ended April 30, | For the Year Ended April 30, | ||||||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||
Net investment income | $ | 1,247,890 | $ | 981,659 | $ | 1,613,105 | $ | 1,570,301 | |||||||||||
Net realized gain (loss) | (949,585 | ) | 3,277,365 | (1,464,155 | ) | (1,981,229 | ) | ||||||||||||
Net change in net unrealized appreciation (depreciation) | 1,222,240 | (1,384,243 | ) | 2,739,537 | (1,002,008 | ) | |||||||||||||
Net increase (decrease) in net assets resulting from operations | 1,520,545 | 2,874,781 | 2,888,487 | (1,412,936 | ) | ||||||||||||||
Distributions to Shareholders | (1,367,155 | ) | (1,005,870 | )* | (1,624,788 | ) | (1,575,071 | )* | |||||||||||
Capital Share Transactions | |||||||||||||||||||
Proceeds from shares created | 7,161,649 | 45,790,546 | 97,133,380 | 7,640,257 | |||||||||||||||
Cost of shares redeemed | (13,112,399 | ) | (32,426,450 | ) | (60,889,657 | ) | (27,802,367 | ) | |||||||||||
Net increase (decrease) from capital share transactions | (5,950,750 | ) | 13,364,096 | 36,243,723 | (20,162,110 | ) | |||||||||||||
Total increase (decrease) in net assets | (5,797,360 | ) | 15,233,007 | 37,507,422 | (23,150,117 | ) | |||||||||||||
Net Assets | |||||||||||||||||||
Beginning of year | 49,472,777 | 34,239,770 | 51,081,857 | 74,231,974 | |||||||||||||||
End of year | $ | 43,675,417 | $ | 49,472,777 | * | $ | 88,589,279 | $ | 51,081,857 | * | |||||||||
Changes in Shares Outstanding | |||||||||||||||||||
Shares outstanding, beginning of year | 2,050,001 | 1,500,001 | 2,750,001 | 3,800,001 | |||||||||||||||
Shares created | 300,000 | 1,900,000 | 5,250,000 | 400,000 | |||||||||||||||
Shares redeemed | (550,001 | ) | (1,350,000 | ) | (3,300,001 | ) | (1,450,000 | ) | |||||||||||
Shares outstanding, end of year | 1,800,000 | 2,050,001 | 4,700,000 | 2,750,001 |
* | For the year ended April 30, 2019, the requirement to disclose dividends and distributions paid to shareholders from net investment income and or net realized gain (loss) on investments was modified and now presented together as Distributions to Shareholders. End of period net assets included undistributed net investment income of $202,093 and $— respectively at April 30, 2018. (See Note 10.) See Note 5 for tax basis of distributable earnings. |
See notes to financial statements.
Statements of Changes in Net Assets(continued)
IQ Enhanced Core Plus Bond U.S. ETF | IQ Short Duration Enhanced Core Bond U.S. ETF | ||||||||||||||
For the Year Ended April 30, | |||||||||||||||
2019 | 2018 | For the Period December 18, 2018* to April 30, 2019 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||
Net investment income | $ | 6,848,227 | $ | 9,279,494 | $ | 28,200 | |||||||||
Net realized gain (loss) | (9,439,938 | ) | (7,606,571 | ) | 16,852 | ||||||||||
Net change in net unrealized appreciation (depreciation) | 10,039,022 | (8,187,023 | 33,767 | ||||||||||||
Net increase (decrease) in net assets resulting from operations | 7,447,311 | (6,514,100 | ) | 78,819 | |||||||||||
Distributions to Shareholders | (6,882,062 | ) | (9,263,899 | )† | (28,586 | ) | |||||||||
Capital Share Transactions | |||||||||||||||
Proceeds from shares created | 25,593,390 | 221,440,893 | 8,792,823 | ||||||||||||
Cost of shares redeemed | (203,654,352 | ) | (102,460,425 | ) | (5,038,018 | ) | |||||||||
Net increase (decrease) from capital share transactions | (178,060,962 | ) | 118,980,468 | 3,754,805 | |||||||||||
Total increase (decrease) in net assets | (177,495,713 | ) | 103,202,469 | 3,805,038 | |||||||||||
Net Assets | |||||||||||||||
Beginning of period | 333,989,648 | 230,787,179 | — | ||||||||||||
End of period | $ | 156,493,935 | $ | 333,989,648 | † | $ | 3,805,038 | ||||||||
Changes in Shares Outstanding | |||||||||||||||
Shares outstanding, beginning of period | 17,500,001 | 11,550,001 | — | ||||||||||||
Shares created | 1,350,000 | 11,200,000 | 350,000 | ||||||||||||
Shares redeemed | (10,700,001 | ) | (5,250,000 | ) | (200,000 | ) | |||||||||
Shares outstanding, end of period | 8,150,000 | 17,500,001 | 150,000 |
* | Commencement of operations. |
† | For the year ended April 30, 2019, the requirement to disclose dividends and distributions paid to shareholders from net investment income and or net realized gain (loss) on investments was modified and now presented together as Distributions to Shareholders. End of period net assets included undistributed net investment income of $14,785 at April 30, 2018. (See Note 10.) See Note 5 for tax basis of distributable earnings. |
See notes to financial statements.
Statements of Changes in Net Assets(continued)
IQ Merger Arbitrage ETF | IQ Global Resources ETF | ||||||||||||||||||
For the Year Ended April 30, | For the Year Ended April 30, | ||||||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||
Net investment income | $ | 1,559,860 | $ | 1,126,792 | $ | 5,260,962 | $ | 5,135,314 | |||||||||||
Net realized gain (loss) | (11,291,429 | ) | 6,943,944 | (6,741,607 | ) | (1,714,686 | ) | ||||||||||||
Net change in net unrealized appreciation (depreciation) | 20,496,649 | (7,222,718 | ) | (6,410,534 | ) | 9,685,770 | |||||||||||||
Net increase (decrease) in net assets resulting from operations | 10,765,080 | 848,018 | (7,891,179 | ) | 13,106,398 | ||||||||||||||
Distributions to Shareholders | — | —* | (1,346,949 | ) | —* | ||||||||||||||
Capital Share Transactions | |||||||||||||||||||
Proceeds from shares created | 628,333,768 | 590,741,873 | 69,696,407 | 59,545,258 | |||||||||||||||
Cost of shares redeemed | (178,685,181 | ) | (255,037,093 | ) | (123,858,817 | ) | (13,389,404 | ) | |||||||||||
Net increase (decrease) from capital share transactions | 449,648,587 | 335,704,780 | (54,162,410 | ) | 46,155,854 | ||||||||||||||
Total increase (decrease) in net assets | 460,413,667 | 336,552,798 | (63,400,538 | ) | 59,262,252 | ||||||||||||||
Net Assets | |||||||||||||||||||
Beginning of year | 525,385,880 | 188,833,082 | 238,712,475 | 179,450,223 | |||||||||||||||
End of year | $ | 985,799,547 | $ | 525,385,880 | * | $ | 175,311,937 | $ | 238,712,475 | * | |||||||||
Changes in Shares Outstanding | |||||||||||||||||||
Shares outstanding, beginning of year | 17,100,000 | 6,250,000 | 8,600,000 | 6,950,000 | |||||||||||||||
Shares created | 19,850,000 | 19,150,000 | 2,500,000 | 2,150,000 | |||||||||||||||
Shares redeemed | (5,650,000 | ) | (8,300,000 | ) | (4,600,000 | ) | (500,000 | ) | |||||||||||
Shares outstanding, end of year | 31,300,000 | 17,100,000 | 6,500,000 | 8,600,000 |
* | For the year ended April 30, 2019, the requirement to disclose dividends and distributions paid to shareholders from net investment income and/or net realized gain (loss) on investments was modified and now presented together as Distributions to Shareholders. End of period net assets included overdistributed net investment income of $120,110 and $69,350 respectively at April 30, 2018. (See Note 10.) See Note 5 for taxbasis of distributable earnings. |
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, | ||||||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||
Net investment income | $ | 111,794 | $ | 98,074 | $ | 2,445,492 | $ | 3,630,933 | |||||||||||
Net realized gain (loss) | 1,577,198 | 292,890 | (414,629 | ) | 2,784,023 | ||||||||||||||
Net change in net unrealized appreciation (depreciation) | (1,978,003 | ) | 109,259 | 6,056,098 | (13,108,294 | ) | |||||||||||||
Net increase (decrease) in net assets resulting from operations | (289,011 | ) | 500,223 | 8,086,961 | (6,693,338 | ) | |||||||||||||
Distributions to Shareholders | (98,945 | ) | (109,575 | )* | (2,374,318 | ) | (3,563,539 | )* | |||||||||||
Distributions to Shareholders from Return of Capital | — | — | (2,583,466 | ) | (2,075,765 | ) | |||||||||||||
Total distributions to shareholders | (98,945 | ) | (109,575 | ) | (4,957,784 | ) | (5,639,304 | ) | |||||||||||
Capital Share Transactions | |||||||||||||||||||
Proceeds from shares created | — | — | 1,351,055 | 6,779,681 | |||||||||||||||
Cost of shares redeemed | (1,620,848 | ) | (1,713,338 | ) | (14,954,392 | ) | (26,358,606 | ) | |||||||||||
Net increase (decrease) from capital share transactions | (1,620,848 | ) | (1,713,338 | ) | (13,603,337 | ) | (19,578,925 | ) | |||||||||||
Total increase (decrease) in net assets | (2,008,804 | ) | (1,322,690 | ) | (10,474,160 | ) | (31,911,567 | ) | |||||||||||
Net Assets | |||||||||||||||||||
Beginning of year | 11,872,725 | 13,195,415 | 82,089,155 | 114,000,722 | |||||||||||||||
End of year | $ | 9,863,921 | $ | 11,872,725 | * | $ | 71,614,995 | $ | 82,089,155 | * | |||||||||
Changes in Shares Outstanding | |||||||||||||||||||
Shares outstanding, beginning of year | 350,000 | 400,000 | 3,400,000 | 4,200,000 | |||||||||||||||
Shares created | — | — | 50,000 | 250,000 | |||||||||||||||
Shares redeemed | (50,000 | ) | (50,000 | ) | (600,000 | ) | (1,050,000 | ) | |||||||||||
Shares outstanding, end of year | 300,000 | 350,000 | 2,850,000 | 3,400,000 |
* | For the year ended April 30, 2019, the requirement to disclose dividends and distributions paid to shareholders from net investment income and or net realized gain (loss) on investments was modified and now presented together as Distributions to Shareholders. End of period net assets included undistributed net investment income of $44,699 and $94,696 respectively at April 30, 2018. (See Note 10.) See Note 5 for tax basis of distributable earnings. |
See notes to financial statements.
Statements of Changes in Net Assets(continued)
IQ S&P High Yield Low Volatility Bond ETF | IQ 500 International ETF | ||||||||||||||
For the Year Ended April 30, | |||||||||||||||
2019 | 2018 | For the Period December 13, 2018* to April 30, 2019 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||
Net investment income | $ | 3,797,030 | $ | 3,762,027 | $ | 898,883 | |||||||||
Net realized gain (loss) | (1,949,460 | ) | (1,255,059 | ) | 4,340 | ||||||||||
Net change in net unrealized appreciation (depreciation) | 3,236,523 | (2,962,912 | ) | 5,273,594 | |||||||||||
Net increase (decrease) in net assets resulting from operations | 5,084,093 | (455,944 | ) | 6,176,817 | |||||||||||
Distributions to Shareholders | (3,901,103 | ) | (3,536,709 | )† | (15,344 | ) | |||||||||
Capital Share Transactions | |||||||||||||||
Proceeds from shares created | 3,699,667 | 64,577,677 | 79,513,130 | ||||||||||||
Cost of shares redeemed | (46,449,379 | ) | (2,537,164 | ) | (25 | ) | |||||||||
Net increase (decrease) from capital share transactions | (42,749,712 | ) | 62,040,513 | 79,513,105 | |||||||||||
Total increase (decrease) in net assets | (41,566,722 | ) | 58,047,860 | 85,674,578 | |||||||||||
Net Assets | |||||||||||||||
Beginning of period | 107,192,466 | 49,144,606 | — | ||||||||||||
End of period | $ | 65,625,744 | $ | 107,192,466 | † | $ | 85,674,578 | ||||||||
Changes in Shares Outstanding | |||||||||||||||
Shares outstanding, beginning of period | 4,400,001 | 1,950,001 | — | ||||||||||||
Shares created | 150,000 | 2,550,000 | 3,100,001 | ||||||||||||
Shares redeemed | (1,900,001 | ) | (100,000 | ) | (1 | ) | |||||||||
Shares outstanding, end of period | 2,650,000 | 4,400,001 | 3,100,000 |
* | Commencement of operations. |
† | For the year ended April 30, 2019, the requirement to disclose dividends and distributions paid to shareholders from net investment income and or net realized gain (loss) on investments was modified and now presented together as Distributions to Shareholders. End of period net assets included undistributed net investment income of $368,463 at April 30, 2018. (See Note 10.) See Note 5 for tax basis of distributable earnings. |
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, | ||||||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||
Net investment income | $ | 13,642,563 | $ | 11,415,421 | $ | 1,610,167 | $ | 4,056,247 | |||||||||||
Net realized gain (loss) | 21,006,516 | 8,788,328 | 16,992,674 | (7,096,132 | ) | ||||||||||||||
Net change in net unrealized appreciation (depreciation) | (53,440,986 | ) | 16,871,161 | (18,674,363 | ) | 16,070,128 | |||||||||||||
Net increase (decrease) in net assets resulting from operations | (18,791,907 | ) | 37,074,910 | (71,522 | ) | 13,030,243 | |||||||||||||
Distributions to Shareholders | (19,464,426 | ) | (8,843,710 | )* | (417,662 | ) | (3,305,273 | )* | |||||||||||
Capital Share Transactions | |||||||||||||||||||
Proceeds from shares created | 30,368,545 | 465,488,096 | — | 77,166,966 | |||||||||||||||
Cost of shares redeemed | (289,550,341 | ) | (123,797,011 | ) | (159,352,565 | ) | — | ||||||||||||
Net increase (decrease) from capital share transactions | (259,181,796 | ) | 341,691,085 | (159,352,565 | ) | 77,166,966 | |||||||||||||
Total increase (decrease) in net assets | (297,438,129 | ) | 369,922,285 | (159,841,749 | ) | 86,891,936 | |||||||||||||
Net Assets | |||||||||||||||||||
Beginning of year | 578,517,034 | 208,594,749 | 168,737,211 | 81,845,275 | |||||||||||||||
End of year | $ | 281,078,905 | $ | 578,517,034 | * | $ | 8,895,462 | $ | 168,737,211 | * | |||||||||
Changes in Shares Outstanding | |||||||||||||||||||
Shares outstanding, beginning of year | 26,750,001 | 10,600,001 | 8,300,001 | 4,350,001 | |||||||||||||||
Shares created | 1,450,000 | 22,150,000 | — | 3,950,000 | |||||||||||||||
Shares redeemed | (14,550,001 | ) | (6,000,000 | ) | (7,850,001 | ) | — | ||||||||||||
Shares outstanding, end of year | 13,650,000 | 26,750,001 | 450,000 | 8,300,001 |
* | For the year ended April 30, 2019, the requirement to disclose dividends and distributions paid to shareholders from net investment income and or net realized gain (loss) on investments was modified and now presented together as Distributions to Shareholders. End of period net assets included undistributed net investment income of $3,645,338 and $1,142,504 respectively at April 30, 2018. (See Note 10.) See Note 5 for tax basis of distributable earnings. |
See notes to financial statements.
Statements of Changes in Net Assets(continued)
IQ 50 Percent Hedged FTSE Japan ETF | IQ Chaikin U.S. Small Cap ETF | ||||||||||||||||||
For the Year Ended April 30, | |||||||||||||||||||
2019 | 2018 | For the Year Ended April 30, 2019 | For the Period May 16, 2017* to April 30, 2018 | ||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||
Net investment income | $ | 353,237 | $ | 524,704 | $ | 4,480,736 | $ | 1,598,588 | |||||||||||
Net realized gain (loss) | 3,162,537 | (319,584 | ) | (25,832,825 | ) | 5,038,942 | |||||||||||||
Net change in net unrealized appreciation (depreciation) | (6,879,025 | ) | 5,261,020 | (4,926,146 | ) | 3,520,915 | |||||||||||||
Net increase (decrease) in net assets resulting from operations | (3,363,251 | ) | 5,466,140 | (26,278,235 | ) | 10,158,445 | |||||||||||||
Distributions to Shareholders | (545,585 | ) | (544,769 | )† | (4,624,785 | ) | (1,436,366 | )† | |||||||||||
Capital Share Transactions | |||||||||||||||||||
Proceeds from shares created | — | 3,191,034 | 94,020,959 | 514,484,818 | |||||||||||||||
Cost of shares redeemed | (24,619,769 | ) | (1,105,653 | ) | (179,909,783 | ) | (57,860,331 | ) | |||||||||||
Net increase (decrease) from capital share transactions | (24,619,769 | ) | 2,085,381 | (85,888,824 | ) | 456,624,487 | |||||||||||||
Total increase (decrease) in net assets | (28,528,605 | ) | 7,006,752 | (116,791,844 | ) | 465,346,566 | |||||||||||||
Net Assets | |||||||||||||||||||
Beginning of period | 34,746,483 | 27,739,731 | 465,346,566 | — | |||||||||||||||
End of period | $ | 6,217,878 | $ | 34,746,483 | † | $ | 348,554,722 | $ | 465,346,566 | † | |||||||||
Changes in Shares Outstanding | |||||||||||||||||||
Shares outstanding, beginning of period | 1,550,001 | 1,450,001 | 17,150,001 | — | |||||||||||||||
Shares created | — | 150,000 | 3,400,000 | 19,250,001 | |||||||||||||||
Shares redeemed | (1,250,001 | ) | (50,000 | ) | (7,000,001 | ) | (2,100,000 | ) | |||||||||||
Shares outstanding, end of period | 300,000 | 1,550,001 | 13,550,000 | 17,150,001 |
* | Commencement of operations. |
† | For the year ended April 30, 2019, the requirement to disclose dividends and distributions paid to shareholders from net investment income and or net realized gain (loss) on investments was modified and now presented together as Distributions to Shareholders. End of period net assets included undistributed net investment income of $94,474 and $144,782 respectively at April 30, 2018. (See Note 10.) See Note 5 for tax basis of distributable earnings. |
See notes to financial statements.
Statements of Changes in Net Assets(continued)
IQ Chaikin U.S. Large Cap ETF | |||||||||||
For the Year Ended April 30, 2019 | For the Period December 13, 2017* to April 30, 2018 | ||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||
Net investment income | $ | 7,182,766 | $ | 1,162,151 | |||||||
Net realized gain (loss) | 5,473,939 | (5,212,594 | ) | ||||||||
Net change in net unrealized appreciation (depreciation) | (10,090,415 | ) | 2,802,663 | ||||||||
Net increase (decrease) in net assets resulting from operations | 2,566,290 | (1,247,780 | ) | ||||||||
Distributions to Shareholders | (7,178,905 | ) | (916,233 | )† | |||||||
Capital Share Transactions | |||||||||||
Proceeds from shares created | 609,684,554 | 324,739,089 | |||||||||
Cost of shares redeemed | (646,660,428 | ) | (2,574,997 | ) | |||||||
Net increase (decrease) from capital share transactions | (36,975,874 | ) | 322,164,092 | ||||||||
Total increase (decrease) in net assets | (41,588,489 | ) | 320,000,079 | ||||||||
Net Assets | |||||||||||
Beginning of period | 320,000,079 | — | |||||||||
End of period | $ | 278,411,590 | $ | 320,000,079 | † | ||||||
Changes in Shares Outstanding | |||||||||||
Shares outstanding, beginning of period | 12,650,001 | — | |||||||||
Shares created | 24,850,000 | 12,750,001 | |||||||||
Shares redeemed | (26,250,001 | ) | (100,000 | ) | |||||||
Shares outstanding, end of period | 11,250,000 | 12,650,001 |
* | Commencement of operations. |
† | For the year ended April 30, 2019, the requirement to disclose dividends and distributions paid to shareholders from net investment income and or net realized gain (loss) on investments was modified and now presented together as Distributions to Shareholders. End of period net assets included undistributed net investment income of $245,918 at April 30, 2018. (See Note 10.) See Note 5 for tax basis of distributable earnings. |
See notes to financial statements.
IQ Hedge Multi-Strategy Tracker ETF | |||||||||||||||||||||||
For the Year Ended April 30, | |||||||||||||||||||||||
2019 | 2018 | 2017 | 2016 | 2015 | |||||||||||||||||||
Net asset value, beginning of year | $ | 30.39 | $ | 29.15 | $ | 29.03 | $ | 30.01 | $ | 29.26 | |||||||||||||
Income from Investment Operations | |||||||||||||||||||||||
Net investment income(a)(b) | 0.72 | 0.56 | 0.50 | 0.43 | 0.38 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (0.27 | ) | 0.68 | (0.38 | ) | (1.30 | ) | 0.74 | |||||||||||||||
Distributions of net realized gains from investments in other investment companies | — | 0.00 | (c) | 0.00 | (c) | 0.03 | 0.02 | ||||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 0.45 | 1.24 | 0.12 | (0.84 | ) | 1.14 | |||||||||||||||||
Distributions from: | |||||||||||||||||||||||
Net investment income | (0.55 | ) | — | (0.00 | )(d) | (0.14 | ) | (0.39 | ) | ||||||||||||||
Net asset value, end of year | $ | 30.29 | $ | 30.39 | $ | 29.15 | $ | 29.03 | $ | 30.01 | |||||||||||||
Market price, end of year | $ | 30.28 | $ | 30.38 | $ | 29.15 | $ | 29.06 | $ | 30.00 | |||||||||||||
Total Return | |||||||||||||||||||||||
Total investment return based on net asset value(e) | 1.56 | % | 4.24 | % | 0.42 | % | (2.80 | )% | 3.93 | %(f) | |||||||||||||
Total investment return based on market price(g) | 1.56 | % | 4.22 | % | 0.31 | % | (2.67 | )% | 3.79 | % | |||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 993,422 | $ | 1,124,278 | $ | 1,062,579 | $ | 1,074,120 | $ | 1,000,840 | |||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||||
Expenses net of waivers/reimbursements(h) | 0.54 | % | 0.64 | % | 0.76 | % | 0.76 | % | 0.76 | % | |||||||||||||
Expenses excluding waivers/reimbursements(h) | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | |||||||||||||
Net investment income (loss)(b) | 2.40 | % | 1.87 | % | 1.72 | % | 1.48 | % | 1.27 | % | |||||||||||||
Portfolio turnover rate(i) | 137 | % | 164 | % | 285 | % | 312 | % | 81 | % |
(a) | Based on average shares outstanding. |
(b) | 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. |
(c) | Less than $0.005 per share. |
(d) | Greater than $(0.005) per share. |
(e) | 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. |
(f) | 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. |
(g) | 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. |
(h) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(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 Hedge Macro Tracker ETF | |||||||||||||||||||||||
For the Year Ended April 30, | |||||||||||||||||||||||
2019 | 2018 | 2017 | 2016 | 2015 | |||||||||||||||||||
Net asset value, beginning of year | $ | 26.35 | $ | 25.46 | $ | 24.66 | $ | 25.69 | $ | 26.50 | |||||||||||||
Income from Investment Operations | |||||||||||||||||||||||
Net investment income(a)(b) | 0.44 | 0.39 | 0.37 | 0.46 | 0.32 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (0.25 | ) | 0.50 | 0.43 | (1.27 | ) | (0.79 | ) | |||||||||||||||
Distributions of net realized gains from investments in other investment companies | — | 0.00 | (c) | 0.00 | (c) | 0.05 | 0.00 | (c) | |||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 0.19 | 0.89 | 0.80 | (0.76 | ) | (0.47 | ) | ||||||||||||||||
Distributions from: | |||||||||||||||||||||||
Net investment income | (0.28 | ) | — | — | (0.27 | ) | (0.34 | ) | |||||||||||||||
Net asset value, end of year | $ | 26.26 | $ | 26.35 | $ | 25.46 | $ | 24.66 | $ | 25.69 | |||||||||||||
Market price, end of year | $ | 26.24 | $ | 26.34 | $ | 25.44 | $ | 24.80 | $ | 25.74 | |||||||||||||
Total Return | |||||||||||||||||||||||
Total investment return based on net asset value(d) | 0.77 | % | 3.50 | % | 3.25 | % | (2.97 | )% | (1.77 | )% | |||||||||||||
Total investment return based on market price(e) | 0.74 | % | 3.54 | % | 2.58 | % | (2.60 | )% | (1.47 | )% | |||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 5,251 | $ | 6,588 | $ | 6,365 | $ | 14,794 | $ | 21,837 | |||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||||
Expenses(f) | 0.76 | % | 0.75 | % | 0.76 | % | 0.76 | % | 0.75 | % | |||||||||||||
Net investment income (loss)(b) | 1.70 | % | 1.47 | % | 1.50 | % | 1.86 | % | 1.23 | % | |||||||||||||
Portfolio turnover rate(g) | 82 | % | 152 | % | 68 | % | 99 | % | 101 | % |
(a) | Based on average shares outstanding. |
(b) | 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. |
(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. |
(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) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(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 Hedge Market Neutral Tracker ETF | |||||||||||||||||||||||
For the Year Ended April 30, | |||||||||||||||||||||||
2019 | 2018 | 2017 | 2016 | 2015 | |||||||||||||||||||
Net asset value, beginning of year | $ | 25.58 | $ | 25.25 | $ | 25.49 | $ | 25.53 | $ | 25.77 | |||||||||||||
Income from Investment Operations | |||||||||||||||||||||||
Net investment income(a)(b) | 0.55 | 0.41 | 0.36 | 0.27 | 0.16 | ||||||||||||||||||
Net realized and unrealized gain (loss) | 0.10 | (0.08 | ) | (0.25 | ) | (0.33 | ) | (0.09 | ) | ||||||||||||||
Distributions of net realized gains from investments in other investment companies | — | — | 0.00 | (c) | 0.02 | 0.03 | |||||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 0.65 | 0.33 | 0.11 | (0.04 | ) | 0.10 | |||||||||||||||||
Distributions from: | |||||||||||||||||||||||
Net investment income | — | — | (0.35 | ) | — | (0.34 | ) | ||||||||||||||||
Net asset value, end of year | $ | 26.23 | $ | 25.58 | $ | 25.25 | $ | 25.49 | $ | 25.53 | |||||||||||||
Market price, end of year | $ | 26.23 | $ | 25.58 | $ | 25.25 | $ | 25.43 | $ | 25.50 | |||||||||||||
Total Return | |||||||||||||||||||||||
Total investment return based on net asset value(d) | 2.56 | % | 1.29 | % | 0.44 | % | (0.15 | )% | 0.40 | % | |||||||||||||
Total investment return based on market price(e) | 2.54 | % | 1.31 | % | 0.67 | % | 0.27 | % | 0.43 | % | |||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 15,741 | $ | 12,790 | $ | 11,364 | $ | 15,294 | $ | 12,766 | |||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||||
Expenses(f) | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | |||||||||||||
Net investment income (loss)(b) | 2.15 | % | 1.61 | % | 1.40 | % | 1.09 | % | 0.64 | % | |||||||||||||
Portfolio turnover rate(g) | 107 | % | 165 | % | 99 | % | 135 | % | 101 | % |
(a) | Based on average shares outstanding. |
(b) | 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. |
(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. |
(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) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(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 Hedge Long/Short Tracker ETF | ||||||||||||||||||||||||||
For the Year Ended April 30, | For the Period March 24, 2015(a) to April 30, 2015 | |||||||||||||||||||||||||
2019 | 2018 | 2017 | 2016 | |||||||||||||||||||||||
Net asset value, beginning of period | $ | 21.91 | $ | 20.36 | $ | 18.88 | $ | 19.93 | $ | 20.00 | ||||||||||||||||
Income from Investment Operations | ||||||||||||||||||||||||||
Net investment income(b)(c) | 0.44 | 0.41 | 0.35 | 0.41 | 0.04 | |||||||||||||||||||||
Net realized and unrealized gain (loss) | 0.13 | 1.22 | 1.19 | (1.10 | ) | (0.11 | ) | |||||||||||||||||||
Distributions of net realized gains from investments in other investment companies | — | 0.00 | (d) | 0.00 | (d) | — | — | |||||||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 0.57 | 1.63 | 1.54 | (0.69 | ) | (0.07 | ) | |||||||||||||||||||
Distributions from: | ||||||||||||||||||||||||||
Net investment income | (0.95 | ) | (0.08 | ) | (0.06 | ) | (0.36 | ) | — | |||||||||||||||||
Net asset value, end of period | $ | 21.53 | $ | 21.91 | $ | 20.36 | $ | 18.88 | $ | 19.93 | ||||||||||||||||
Market price, end of period | $ | 21.54 | $ | 21.93 | $ | 20.34 | $ | 18.72 | $ | 20.79 | ||||||||||||||||
Total Return | ||||||||||||||||||||||||||
Total investment return based on net asset value(e) | 3.07 | % | 8.02 | % | 8.18 | % | (3.46 | )% | (0.35 | )% | ||||||||||||||||
Total investment return based on market price(f) | 2.91 | % | 8.23 | % | 8.98 | % | (8.23 | )% | 3.95 | %(g) | ||||||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||||||||
Net assets, end of period (000’s omitted) | $ | 6,459 | $ | 8,764 | $ | 4,072 | $ | 1,888 | $ | 1,993 | ||||||||||||||||
Ratio to average net assets of: | ||||||||||||||||||||||||||
Expenses(h) | 0.76 | % | 0.76 | % | 0.77 | % | 0.76 | % | 0.75 | %(i) | ||||||||||||||||
Net investment income (loss)(c) | 2.06 | % | 1.89 | % | 1.78 | % | 2.15 | % | 1.73 | %(i) | ||||||||||||||||
Portfolio turnover rate(j) | 95 | % | 77 | % | 147 | % | 94 | % | 4 | % |
(a) | Commencement of operations. |
(b) | Based on average shares outstanding. |
(c) | 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. |
(d) | Less than $0.005 per share. |
(e) | 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. |
(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) | Since the Shares of the Funds did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate the market returns. |
(h) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(i) | Annualized. |
(j) | 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 Event-Driven Tracker ETF | ||||||||||||||||||||||||||
For the Year Ended April 30, | For the Period March 24, 2015(a) to April 30, 2015 | |||||||||||||||||||||||||
2019 | 2018 | 2017 | 2016 | |||||||||||||||||||||||
Net asset value, beginning of period | $ | 20.93 | $ | 20.59 | $ | 19.40 | $ | 20.01 | $ | 19.95 | ||||||||||||||||
Income from Investment Operations | ||||||||||||||||||||||||||
Net investment income(b)(c) | 0.74 | 0.55 | 0.56 | 0.54 | 0.02 | |||||||||||||||||||||
Net realized and unrealized gain (loss) | 0.46 | 0.26 | 1.09 | (1.03 | ) | 0.03 | ||||||||||||||||||||
Distributions of net realized gains from investments in other investment companies | — | — | 0.00 | (d) | 0.23 | 0.01 | ||||||||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 1.20 | 0.81 | 1.65 | (0.26 | ) | 0.06 | ||||||||||||||||||||
Distributions from: | ||||||||||||||||||||||||||
Net investment income | (0.87 | ) | (0.47 | ) | (0.46 | ) | (0.35 | ) | — | |||||||||||||||||
Net asset value, end of period | $ | 21.26 | $ | 20.93 | $ | 20.59 | $ | 19.40 | $ | 20.01 | ||||||||||||||||
Market price, end of period | $ | 21.27 | $ | 20.93 | $ | 20.59 | $ | 19.43 | $ | 20.00 | ||||||||||||||||
Total Return | ||||||||||||||||||||||||||
Total investment return based on net asset value(e) | 6.12 | % | 3.93 | % | 8.58 | % | (1.26 | )% | 0.30 | % | ||||||||||||||||
Total investment return based on market price(f) | 6.13 | % | 3.94 | % | 8.44 | % | (1.04 | )% | 0.25 | %(g) | ||||||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||||||||
Net assets, end of period (000’s omitted) | $ | 4,253 | $ | 3,139 | $ | 3,088 | $ | 1,940 | $ | 2,001 | ||||||||||||||||
Ratio to average net assets of: | ||||||||||||||||||||||||||
Expenses(h) | 0.76 | % | 0.76 | % | 0.76 | % | 0.79 | % | 0.75 | %(i) | ||||||||||||||||
Net investment income (loss)(c) | 3.54 | % | 2.64 | % | 2.80 | % | 2.81 | % | 1.31 | %(i) | ||||||||||||||||
Portfolio turnover rate(j) | 34 | % | 41 | % | 68 | % | 16 | % | 6 | % |
(a) | Commencement of operations. |
(b) | Based on average shares outstanding. |
(c) | 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. |
(d) | Less than $0.005 per share. |
(e) | 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. |
(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) | Since the Shares of the Funds did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate the market returns. |
(h) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(i) | Annualized. |
(j) | 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, | ||||||||||||||||||||||
2019 | 2018 | 2017 | 2016 | 2015 | ||||||||||||||||||
Net asset value, beginning of year | $ | 27.47 | $ | 27.25 | $ | 26.73 | $ | 26.70 | $ | 26.33 | ||||||||||||
Income from Investment Operations | ||||||||||||||||||||||
Net investment income(a)(b) | 0.49 | 0.30 | 0.22 | 0.09 | 0.05 | |||||||||||||||||
Net realized and unrealized gain (loss) | 0.22 | 0.21 | 0.30 | (0.06 | ) | 0.35 | ||||||||||||||||
Distributions of net realized gains from investments in other investment companies | — | 0.00 | (c) | 0.0 | 0(c) | — | — | |||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 0.71 | 0.51 | 0.52 | 0.03 | 0.40 | |||||||||||||||||
Distributions from: | ||||||||||||||||||||||
Net investment income | (0.35 | ) | (0.29 | ) | — | (0.00 | )(d) | (0.03 | ) | |||||||||||||
Net asset value, end of year | $ | 27.83 | $ | 27.47 | $ | 27.25 | $ | 26.73 | $ | 26.70 | ||||||||||||
Market price, end of year | $ | 27.80 | $ | 27.47 | $ | 27.27 | $ | 26.72 | $ | 26.81 | ||||||||||||
Total Return | ||||||||||||||||||||||
Total investment return based on net asset value(e) | 2.64 | % | 1.89 | % | 1.94 | % | 0.11 | % | 1.50 | % | ||||||||||||
Total investment return based on market price(f) | 2.53 | % | 1.81 | % | 2.06 | % | (0.32 | )% | 1.96 | % | ||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 57,046 | $ | 45,319 | $ | 28,608 | $ | 26,727 | $ | 28,031 | ||||||||||||
Ratio to average net assets of: | ||||||||||||||||||||||
Expenses net of waivers/reimbursements(g) | 0.37 | % | 0.49 | % | 0.49 | % | 0.49 | % | 0.48 | % | ||||||||||||
Expenses excluding waivers/reimbursements(g) | 0.49 | % | 0.49 | % | 0.49 | % | 0.49 | % | 0.48 | % | ||||||||||||
Net investment income (loss)(b) | 1.77 | % | 1.10 | % | 0.82 | % | 0.33 | % | 0.18 | % | ||||||||||||
Portfolio turnover rate(h) | 97 | % | 101 | % | 71 | % | 109 | % | 91 | % |
(a) | Based on average shares outstanding. |
(b) | 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. |
(c) | Less than $0.005 per share. |
(d) | Greater than $(0.005) per share. |
(e) | 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. |
(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) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(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 | |||||||||||||||||||
2019 | 2018 | 2017 | ||||||||||||||||||
Net asset value, beginning of period | $ | 24.13 | $ | 22.83 | $ | 20.96 | $ | 20.00 | ||||||||||||
Income from Investment Operations | ||||||||||||||||||||
Net investment income(b)(c) | 0.66 | 0.58 | 0.48 | 0.26 | ||||||||||||||||
Net realized and unrealized gain (loss) | 0.20 | 1.32 | 1.80 | 0.78 | ||||||||||||||||
Distributions of net realized gains from investments in other investment companies | — | 0.00 | (d) | 0.00 | (d) | 0.06 | ||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 0.86 | 1.90 | 2.28 | 1.10 | ||||||||||||||||
Distributions from: | ||||||||||||||||||||
Net investment income | (0.73 | ) | (0.60 | ) | (0.41 | ) | (0.14 | ) | ||||||||||||
Net asset value, end of period | $ | 24.26 | $ | 24.13 | $ | 22.83 | $ | 20.96 | ||||||||||||
Market price, end of period | $ | 24.24 | $ | 24.14 | $ | 22.84 | $ | 20.21 | ||||||||||||
Total Return | ||||||||||||||||||||
Total investment return based on net asset value(e) | 3.74 | % | 8.43 | % | 10.99 | % | 5.50 | % | ||||||||||||
Total investment return based on market price(f) | 3.61 | % | 8.40 | % | 15.18 | % | 1.72 | %(g) | ||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||
Net assets, end of period (000’s omitted) | $ | 43,675 | $ | 49,473 | $ | 34,240 | $ | 2,096 | ||||||||||||
Ratio to average net assets of: | ||||||||||||||||||||
Expenses net of waivers/reimbursements(h) | 0.37 | % | 0.46 | % | 0.46 | % | 0.46 | %(i) | ||||||||||||
Expenses excluding waivers/reimbursements(h) | 0.46 | % | —% | —% | —%(i) | |||||||||||||||
Net investment income (loss)(c) | 2.80 | % | 2.43 | % | 2.23 | % | 2.18 | %(i) | ||||||||||||
Portfolio turnover rate(j) | 174 | % | 145 | % | 105 | % | 116 | % |
(a) | Commencement of operations. |
(b) | Based on average shares outstanding. |
(c) | 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. |
(d) | Less than $0.005 per share. |
(e) | 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. |
(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) | Since the Shares of the Funds did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate the market returns. |
(h) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(i) | Annualized. |
(j) | 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, | For the Period May 10, 2016(a) to April 30, 2017 | |||||||||||||
2019 | 2018 | |||||||||||||
Net asset value, beginning of period | $ | 18.58 | $ | 19.53 | $ | 20.00 | ||||||||
Income from Investment Operations | ||||||||||||||
Net investment income(b)(c) | 0.47 | 0.45 | 0.41 | |||||||||||
Net realized and unrealized gain (loss) | 0.29 | (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 | 0.76 | (0.50 | ) | (0.07 | ) | |||||||||
Distributions from: | ||||||||||||||
Net investment income | (0.49 | ) | (0.45 | ) | (0.40 | ) | ||||||||
Net asset value, end of period | $ | 18.85 | $ | 18.58 | $ | 19.53 | ||||||||
Market price, end of period | $ | 18.84 | $ | 18.57 | $ | 19.54 | ||||||||
Total Return | ||||||||||||||
Total investment return based on net asset value(d) | 4.21 | % | (2.66 | )% | (0.31 | )% | ||||||||
Total investment return based on market price(e) | 4.20 | % | (2.71 | )% | (0.29 | )%(f) | ||||||||
Ratios/Supplemental Data | ||||||||||||||
Net assets, end of period (000’s omitted) | $ | 88,589 | $ | 51,082 | $ | 74,232 | ||||||||
Ratio to average net assets of: | ||||||||||||||
Expenses net of waivers/reimbursements(g) | 0.21 | % | 0.21 | % | 0.20 | %(h) | ||||||||
Expenses excluding waivers/reimbursements(g) | 0.26 | % | 0.26 | % | 0.25 | %(h) | ||||||||
Net investment income (loss)(c) | 2.54 | % | 2.32 | % | 2.14 | %(h) | ||||||||
Portfolio turnover rate(i) | 286 | % | 264 | % | 265 | % |
(a) | Commencement of operations. |
(b) | Based on average shares outstanding. |
(c) | 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. |
(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. |
(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) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(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 Plus Bond U.S. ETF | ||||||||||||||
For the Year Ended April 30, | For the Period May 10, 2016(a) to April 30, 2017 | |||||||||||||
2019 | 2018 | |||||||||||||
Net asset value, beginning of period | $ | 19.09 | $ | 19.98 | $ | 20.00 | ||||||||
Income from Investment Operations | ||||||||||||||
Net investment income(b)(c) | 0.57 | 0.61 | 0.53 | |||||||||||
Net realized and unrealized gain (loss) | 0.10 | (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 | 0.67 | (0.27 | ) | 0.51 | ||||||||||
Distributions from: | ||||||||||||||
Net investment income | (0.56 | ) | (0.62 | ) | (0.53 | ) | ||||||||
Net asset value, end of period | $ | 19.20 | $ | 19.09 | $ | 19.98 | ||||||||
Market price, end of period | $ | 19.18 | $ | 19.07 | $ | 19.99 | ||||||||
Total Return | ||||||||||||||
Total investment return based on net asset value(d) | 3.63 | % | (1.44 | )% | 2.57 | % | ||||||||
Total investment return based on market price(e) | 3.59 | % | (1.56 | )% | 2.61 | %(f) | ||||||||
Ratios/Supplemental Data | ||||||||||||||
Net assets, end of period (000’s omitted) | $ | 156,494 | $ | 333,990 | $ | 230,787 | ||||||||
Ratio to average net assets of: | ||||||||||||||
Expenses net of waivers/reimbursements(g) | 0.21 | % | 0.21 | % | 0.20 | %(h) | ||||||||
Expenses excluding waivers/reimbursements(g) | 0.26 | % | 0.26 | % | 0.25 | %(h) | ||||||||
Net investment income (loss)(c) | 2.99 | % | 3.09 | % | 2.73 | %(h) | ||||||||
Portfolio turnover rate(i) | 411 | % | 269 | % | 147 | % |
(a) | Commencement of operations. |
(b) | Based on average shares outstanding. |
(c) | 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. |
(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. |
(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) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(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 Short Duration Enhanced Core Bond U.S. ETF | ||||||
For the Period December 18, 2018(a) to April 30, 2019 | ||||||
Net asset value, beginning of period | $ | 25.02 | ||||
Income from Investment Operations | ||||||
Net investment income(b)(c) | 0.20 | |||||
Net realized and unrealized gain (loss) | 0.36 | |||||
Net increase (decrease) in net assets resulting from investment operations | 0.56 | |||||
Distributions from: | ||||||
Net investment income | (0.21 | ) | ||||
Net asset value, end of period | $ | 25.37 | ||||
Market price, end of period | $ | 25.36 | ||||
Total Return | ||||||
Total investment return based on net asset value(d) | 2.23 | % | ||||
Total investment return based on market price(e) | 2.20 | %(f) | ||||
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $ | 3,805 | ||||
Ratio to average net assets of: | ||||||
Expenses net of waivers/reimbursements(g) | 0.20 | %(h) | ||||
Expenses excluding waivers/reimbursements(g) | 0.23 | %(h) | ||||
Net investment income (loss)(c) | 2.13 | %(h) | ||||
Portfolio turnover rate(i) | 78 | % |
(a) | Commencement of operations. |
(b) | Based on average shares outstanding. |
(c) | 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. |
(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. |
(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) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(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 Merger Arbitrage ETF | |||||||||||||||||||||||
For the Year Ended April 30, | |||||||||||||||||||||||
2019 | 2018 | 2017 | 2016 | 2015 | |||||||||||||||||||
Net asset value, beginning of year | $ | 30.72 | $ | 30.21 | $ | 28.44 | $ | 28.92 | $ | 27.09 | |||||||||||||
Income from Investment Operations | |||||||||||||||||||||||
Net investment income(a)(b) | 0.07 | 0.10 | 0.24 | (c) | 0.02 | 0.04 | |||||||||||||||||
Net realized and unrealized gain (loss) | 0.71 | 0.41 | (d) | 1.59 | (0.25 | ) | 1.79 | ||||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 0.78 | 0.51 | 1.83 | (0.23 | ) | 1.83 | |||||||||||||||||
Distributions from: | |||||||||||||||||||||||
Net investment income | — | — | (0.06 | ) | (0.25 | ) | — | ||||||||||||||||
Net asset value, end of year | $ | 31.50 | $ | 30.72 | $ | 30.21 | $ | 28.44 | $ | 28.92 | |||||||||||||
Market price, end of year | $ | 31.48 | $ | 30.75 | $ | 30.27 | $ | 28.51 | $ | 28.97 | |||||||||||||
Total Return | |||||||||||||||||||||||
Total investment return based on net asset value(e) | 2.52 | % | 1.69 | % | 6.45 | % | (0.79 | )% | 6.76 | % | |||||||||||||
Total investment return based on market price(f) | 2.37 | % | 1.59 | % | 6.39 | % | (0.73 | )% | 6.31 | % | |||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 985,800 | $ | 525,386 | $ | 188,833 | $ | 139,367 | $ | 121,447 | |||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||||
Expenses(g) | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | |||||||||||||
Net investment income (loss)(b) | 0.21 | % | 0.34 | % | 0.82 | %(c) | 0.09 | % | 0.14 | % | |||||||||||||
Portfolio turnover rate(h) | 337 | % | 329 | % | 268 | % | 272 | % | 447 | % |
(a) | Based on average shares outstanding. |
(b) | 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. |
(c) | 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. |
(d) | 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. |
(e) | 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. |
(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) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(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 Global Resources ETF | |||||||||||||||||||||||
For the Year Ended April 30, | |||||||||||||||||||||||
2019 | 2018 | 2017 | 2016 | 2015 | |||||||||||||||||||
Net asset value, beginning of year | $ | 27.76 | $ | 25.82 | $ | 24.70 | $ | 27.18 | $ | 29.21 | |||||||||||||
Income from Investment Operations | |||||||||||||||||||||||
Net investment income(a)(b) | 0.65 | 0.68 | 0.33 | 0.56 | 0.37 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (1.24 | ) | 1.26 | 0.89 | (2.48 | ) | (2.05 | ) | |||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | (0.59 | ) | 1.94 | 1.22 | (1.92 | ) | (1.68 | ) | |||||||||||||||
Distributions from: | |||||||||||||||||||||||
Net investment income | (0.20 | ) | — | (0.10 | ) | (0.56 | ) | (0.35 | ) | ||||||||||||||
Net asset value, end of year | $ | 26.97 | $ | 27.76 | $ | 25.82 | $ | 24.70 | $ | 27.18 | |||||||||||||
Market price, end of year | $ | 27.06 | $ | 27.65 | $ | 25.95 | $ | 24.78 | $ | 27.18 | |||||||||||||
Total Return | |||||||||||||||||||||||
Total investment return based on net asset value(c) | (2.08 | )% | 7.50 | % | 4.94 | % | (6.71 | )%(d) | (5.75 | )%(d) | |||||||||||||
Total investment return based on market price(e) | (1.38 | )% | 6.55 | % | 5.13 | % | (6.41 | )% | (5.97 | )% | |||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 175,312 | $ | 238,712 | $ | 179,450 | $ | 67,924 | $ | 66,587 | |||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||||
Expenses(f) | 0.76 | % | 0.76 | % | 0.75 | % | 0.76 | % | 0.75 | %�� | |||||||||||||
Net investment income (loss)(b) | 2.37 | % | 2.51 | % | 1.29 | % | 2.39 | % | 1.32 | % | |||||||||||||
Portfolio turnover rate(g) | 132 | % | 235 | % | 199 | % | 325 | % | 182 | % |
(a) | Based on average shares outstanding. |
(b) | 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. |
(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. |
(d) | 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. |
(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) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(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, | |||||||||||||||||||||||
2019 | 2018 | 2017 | 2016 | 2015 | |||||||||||||||||||
Net asset value, beginning of year | $ | 33.92 | $ | 32.99 | $ | 30.12 | $ | 27.26 | $ | 26.92 | |||||||||||||
Income from Investment Operations | |||||||||||||||||||||||
Net investment income(a)(b) | 0.33 | 0.27 | 0.31 | 0.41 | 0.31 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (1.09 | ) | 0.97 | 2.94 | 2.82 | 0.44 | |||||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | (0.76 | ) | 1.24 | 3.25 | 3.23 | 0.75 | |||||||||||||||||
Distributions from: | |||||||||||||||||||||||
Net investment income | (0.28 | ) | (0.31 | ) | (0.38 | ) | (0.37 | ) | (0.41 | ) | |||||||||||||
Net asset value, end of year | $ | 32.88 | $ | 33.92 | $ | 32.99 | $ | 30.12 | $ | 27.26 | |||||||||||||
Market price, end of year | $ | 32.84 | $ | 33.84 | $ | 33.05 | $ | 29.52 | $ | 27.27 | |||||||||||||
Total Return | |||||||||||||||||||||||
Total investment return based on net asset value(c) | (2.16 | )% | 3.75 | % | 10.86 | % | 11.93 | % | 2.92 | % | |||||||||||||
Total investment return based on market price(d) | (2.04 | )% | 3.30 | % | 13.32 | % | 9.66 | % | 3.15 | % | |||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 9,864 | $ | 11,873 | $ | 13,195 | $ | 12,047 | $ | 13,630 | |||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||||
Expenses(e) | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | |||||||||||||
Net investment income (loss)(b) | 1.04 | % | 0.79 | % | 0.99 | % | 1.48 | % | 1.16 | % | |||||||||||||
Portfolio turnover rate(f) | 32 | % | 11 | % | 35 | % | 31 | % | 33 | % |
(a) | Based on average shares outstanding. |
(b) | 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. |
(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. |
(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) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(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 U.S. Real Estate Small Cap ETF | |||||||||||||||||||||||
For the Year Ended April 30, | |||||||||||||||||||||||
2019 | 2018 | 2017 | 2016 | 2015 | |||||||||||||||||||
Net asset value, beginning of year | $ | 24.14 | $ | 27.14 | $ | 25.14 | $ | 26.77 | $ | 25.44 | |||||||||||||
Income from Investment Operations | |||||||||||||||||||||||
Net investment income(a)(b) | 0.79 | 0.88 | 0.71 | 0.90 | 1.07 | ||||||||||||||||||
Net realized and unrealized gain (loss) | 1.81 | (2.53 | ) | 2.88 | (1.09 | ) | 1.57 | ||||||||||||||||
Distributions of net realized gains from investments in other investment companies | — | — | 0.00 | (c) | — | — | |||||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 2.60 | (1.65 | ) | 3.59 | (0.19 | ) | 2.64 | ||||||||||||||||
Distributions from: | |||||||||||||||||||||||
Net investment income | (0.78 | ) | (0.85 | ) | (0.71 | ) | (0.88 | ) | (1.04 | ) | |||||||||||||
Return of capital | (0.83 | ) | (0.50 | ) | (0.88 | ) | (0.56 | ) | (0.27 | ) | |||||||||||||
Total distributions from net investment income and return of capital | (1.61 | ) | (1.35 | ) | (1.59 | ) | (1.44 | ) | (1.31 | ) | |||||||||||||
Net asset value, end of year | $ | 25.13 | $ | 24.14 | $ | 27.14 | $ | 25.14 | $ | 26.77 | |||||||||||||
Market price, end of year | $ | 25.12 | $ | 24.12 | $ | 27.15 | $ | 25.10 | $ | 26.82 | |||||||||||||
Total Return | |||||||||||||||||||||||
Total investment return based on net asset value(d) | 11.16 | % | (6.37 | )% | 14.60 | % | (0.51 | )% | 10.44 | % | |||||||||||||
Total investment return based on market price(e) | 11.24 | % | (6.49 | )% | 14.79 | % | (0.83 | )% | 10.51 | % | |||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||||
Net assets, end of year (000’s omitted) | $ | 71,615 | $ | 82,089 | $ | 114,001 | $ | 76,663 | $ | 95,048 | |||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||||
Expenses(f) | 0.70 | % | 0.70 | % | 0.70 | % | 0.70 | % | 0.69 | % | |||||||||||||
Net investment income (loss)(b) | 3.11 | % | 3.36 | % | 2.64 | % | 3.62 | % | 3.97 | % | |||||||||||||
Portfolio turnover rate(g) | 26 | % | 27 | % | 28 | % | 28 | % | 17 | % |
(a) | Based on average shares outstanding. |
(b) | 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. |
(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. |
(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) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(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 S&P High Yield Low Volatility Bond ETF | ||||||||||||||
For the Year Ended April 30, | For the Period February 15, 2017(a) to April 30, 2017 | |||||||||||||
2019 | 2018 | |||||||||||||
Net asset value, beginning of period | $ | 24.36 | $ | 25.20 | $ | 25.00 | ||||||||
Income from Investment Operations | ||||||||||||||
Net investment income(b)(c) | 1.07 | 0.99 | 0.20 | |||||||||||
Net realized and unrealized gain (loss) | 0.41 | (0.88 | ) | 0.10 | ||||||||||
Net increase (decrease) in net assets resulting from investment operations | 1.48 | 0.11 | 0.30 | |||||||||||
Distributions from: | ||||||||||||||
Net investment income | (1.08 | ) | (0.95 | ) | (0.10 | ) | ||||||||
Net asset value, end of period | $ | 24.76 | $ | 24.36 | $ | 25.20 | ||||||||
Market price, end of period | $ | 24.78 | $ | 24.32 | $ | 25.34 | ||||||||
Total Return | ||||||||||||||
Total investment return based on net asset value(d) | 6.31 | % | 0.39 | % | 1.40 | % | ||||||||
Total investment return based on market price(e) | 6.56 | % | (0.36 | )% | 1.93 | %(f) | ||||||||
Ratios/Supplemental Data | ||||||||||||||
Net assets, end of period (000’s omitted) | $ | 65,626 | $ | 107,192 | $ | 49,145 | ||||||||
Ratio to average net assets of: | ||||||||||||||
Expenses net of waivers/reimbursements(g) | 0.40 | % | 0.40 | % | 0.40 | %(h) | ||||||||
Expenses excluding waivers/reimbursements(g) | 0.41 | % | 0.41 | % | 0.41 | %(h) | ||||||||
Net investment income (loss)(c) | 4.42 | % | 3.97 | % | 4.05 | %(h) | ||||||||
Portfolio turnover rate(i) | 83 | % | 75 | % | 15 | % |
(a) | Commencement of operations. |
(b) | Based on average shares outstanding. |
(c) | 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. |
(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. |
(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) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(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 500 International ETF | ||||||
For the Period December 13, 2018(a) to April 30, 2019 | ||||||
Net asset value, beginning of period | $ | 25.50 | ||||
Income from Investment Operations | ||||||
Net investment income(b)(c) | 0.39 | |||||
Net realized and unrealized gain (loss) | 1.77 | |||||
Net increase (decrease) in net assets resulting from investment operations | 2.16 | |||||
Distributions from: | ||||||
Net investment income | (0.02 | ) | ||||
Net asset value, end of period | $ | 27.64 | ||||
Market price, end of period | $ | 27.65 | ||||
Total Return | ||||||
Total investment return based on net asset value(d) | 8.47 | % | ||||
Total investment return based on market price(e) | 8.52 | % | ||||
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $ | 85,675 | ||||
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)(c) | 3.90 | %(g) | ||||
Portfolio turnover rate(h) | 0 | % |
(a) | Commencement of operations. |
(b) | Based on average shares outstanding. |
(c) | 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. |
(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. |
(f) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(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 International ETF | |||||||||||||||||||||
For the Year Ended April 30, | For the Period July 22, 2015(a) to April 30, 2016 | ||||||||||||||||||||
2019 | 2018 | 2017 | |||||||||||||||||||
Net asset value, beginning of period | $ | 21.63 | $ | 19.68 | $ | 17.68 | $ | 19.94 | |||||||||||||
Income from Investment Operations | |||||||||||||||||||||
Net investment income(b)(c) | 0.62 | 0.60 | 0.46 | 0.37 | |||||||||||||||||
Net realized and unrealized gain (loss) | (0.77 | ) | 1.89 | 2.18 | (2.42 | ) | |||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | (0.15 | ) | 2.49 | 2.64 | (2.05 | ) | |||||||||||||||
Distributions from: | |||||||||||||||||||||
Net investment income | (0.70 | ) | (0.54 | ) | (0.44 | ) | (0.21 | ) | |||||||||||||
Net realized gain | (0.19 | ) | 0.00 | (d) | (0.20 | ) | — | ||||||||||||||
Total distributions from net investment income and realized gains | (0.89 | ) | (0.54 | ) | (0.64 | ) | (0.21 | ) | |||||||||||||
Net asset value, end of period | $ | 20.59 | $ | 21.63 | $ | 19.68 | $ | 17.68 | |||||||||||||
Market price, end of period | $ | 20.65 | $ | 21.60 | $ | 19.75 | $ | 17.59 | |||||||||||||
Total Return | |||||||||||||||||||||
Total investment return based on net asset value(e) | (0.42 | )% | 12.84 | % | 15.29 | % | (10.33 | )% | |||||||||||||
Total investment return based on market price(f) | (0.03 | )% | 12.28 | % | 16.28 | % | (10.77 | )%(g) | |||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||
Net assets, end of period (000’s omitted) | $ | 281,079 | $ | 578,517 | $ | 208,595 | $ | 76,010 | |||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||
Expenses net of waivers/reimbursements(h) | 0.20 | % | 0.22 | % | 0.36 | % | 0.36 | %(i) | |||||||||||||
Expenses excluding waivers/reimbursements(h) | 0.36 | % | 0.36 | % | 0.36 | % | 0.36 | %(i) | |||||||||||||
Net investment income (loss)(c) | 3.03 | % | 2.87 | % | 2.55 | % | 2.71 | %(i) | |||||||||||||
Portfolio turnover rate(j) | 13 | % | 10 | % | 8 | % | 7 | % |
(a) | Commencement of operations. |
(b) | Based on average shares outstanding. |
(c) | 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. |
(d) | Less than $0.005 per share. |
(e) | 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. |
(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) | Since the Shares of the Funds did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate the market returns. |
(h) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(i) | Annualized. |
(j) | 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 | ||||||||||||||||||||
2019 | 2018 | 2017 | |||||||||||||||||||
Net asset value, beginning of period | $ | 20.33 | $ | 18.82 | $ | 17.63 | $ | 19.90 | |||||||||||||
Income from Investment Operations | |||||||||||||||||||||
Net investment income(b)(c) | 1.37 | 0.53 | 0.62 | 0.36 | |||||||||||||||||
Net realized and unrealized gain (loss) | (1.15 | ) | 1.43 | 1.96 | (2.41 | ) | |||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | 0.22 | 1.96 | 2.58 | (2.05 | ) | ||||||||||||||||
Distributions from: | |||||||||||||||||||||
Net investment income | (0.78 | ) | (0.45 | ) | (0.63 | ) | (0.22 | ) | |||||||||||||
Net realized gain | — | — | (0.76 | ) | — | ||||||||||||||||
Total distributions from net investment income and realized gains | (0.78 | ) | (0.45 | ) | (1.39 | ) | (0.22 | ) | |||||||||||||
Net asset value, end of period | $ | 19.77 | $ | 20.33 | $ | 18.82 | $ | 17.63 | |||||||||||||
Market price, end of period | $ | 19.77 | $ | 20.24 | $ | 18.90 | $ | 17.82 | |||||||||||||
Total Return | |||||||||||||||||||||
Total investment return based on net asset value(d) | 1.45 | % | 10.58 | % | 15.48 | % | (10.33 | )% | |||||||||||||
Total investment return based on market price(e) | 1.90 | % | 9.59 | % | 14.78 | % | (9.38 | )%(f) | |||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||
Net assets, end of period (000’s omitted) | $ | 8,895 | $ | 168,737 | $ | 81,845 | $ | 46,724 | |||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||
Expenses net of waivers/reimbursements(g) | 0.30 | % | 0.32 | % | 0.46 | % | 0.46 | %(h) | |||||||||||||
Expenses excluding waivers/reimbursements(g) | 0.47 | % | 0.46 | % | 0.46 | % | 0.46 | %(h) | |||||||||||||
Net investment income (loss)(c) | 6.74 | % | 2.68 | % | 3.52 | % | 2.65 | %(h) | |||||||||||||
Portfolio turnover rate(i) | 10 | % | 10 | % | 14 | % | 10 | % |
(a) | Commencement of operations. |
(b) | Based on average shares outstanding. |
(c) | 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. |
(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) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(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 Japan ETF | |||||||||||||||||||||
For the Year Ended April 30, | For the Period July 22, 2015(a) to April 30, 2016 | ||||||||||||||||||||
2019 | 2018 | 2017 | |||||||||||||||||||
Net asset value, beginning of period | $ | 22.42 | $ | 19.13 | $ | 17.33 | $ | 20.16 | |||||||||||||
Income from Investment Operations | |||||||||||||||||||||
Net investment income(b)(c) | 0.30 | 0.34 | 0.27 | 0.27 | |||||||||||||||||
Net realized and unrealized gain (loss) | (1.64 | ) | 3.30 | 1.95 | (3.10 | ) | |||||||||||||||
Net increase (decrease) in net assets resulting from investment operations | (1.34 | ) | 3.64 | 2.22 | (2.83 | ) | |||||||||||||||
Distributions from: | |||||||||||||||||||||
Net investment income | (0.35 | ) | (0.35 | ) | (0.42 | ) | — | ||||||||||||||
Net asset value, end of period | $ | 20.73 | $ | 22.42 | $ | 19.13 | $ | 17.33 | |||||||||||||
Market price, end of period | $ | 20.67 | $ | 22.30 | $ | 19.16 | $ | 17.83 | |||||||||||||
Total Return | |||||||||||||||||||||
Total investment return based on net asset value(d) | (5.96 | )% | 19.11 | % | 13.18 | % | (14.05 | )% | |||||||||||||
Total investment return based on market price(e) | (5.71 | )% | 18.29 | % | 10.17 | % | (11.56 | )%(f) | |||||||||||||
Ratios/Supplemental Data | |||||||||||||||||||||
Net assets, end of period (000’s omitted) | $ | 6,218 | $ | 34,746 | $ | 27,740 | $ | 25,125 | |||||||||||||
Ratio to average net assets of: | |||||||||||||||||||||
Expenses net of waivers/reimbursements(g) | 0.30 | % | 0.33 | % | 0.46 | % | 0.46 | %(h) | |||||||||||||
Expenses excluding waivers/reimbursements(g) | 0.46 | % | 0.46 | % | —% | —%(h) | |||||||||||||||
Net investment income (loss)(c) | 1.39 | % | 1.61 | % | 1.53 | % | 1.85 | %(h) | |||||||||||||
Portfolio turnover rate(i) | 7 | % | 6 | % | 15 | % | 11 | % |
(a) | Commencement of operations. |
(b) | Based on average shares outstanding. |
(c) | 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. |
(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) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(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 Chaikin U.S. Small Cap ETF | |||||||||||
For the Year Ended April 30, 2019 | For the Period May 16, 2017(a) to April 30, 2018 | ||||||||||
Net asset value, beginning of period | $ | 27.13 | $ | 25.16 | |||||||
Income from Investment Operations | |||||||||||
Net investment income(b)(c) | 0.27 | 0.16 | |||||||||
Net realized and unrealized gain (loss) | (1.39 | ) | 1.93 | ||||||||
Net increase (decrease) in net assets resulting from investment operations | (1.12 | ) | 2.09 | ||||||||
Distributions from: | |||||||||||
Net investment income | (0.29 | ) | (0.12 | ) | |||||||
Net asset value, end of period | $ | 25.72 | $ | 27.13 | |||||||
Market price, end of period | $ | 25.72 | $ | 27.14 | |||||||
Total Return | |||||||||||
Total investment return based on net asset value(d) | (4.10 | )% | 8.33 | % | |||||||
Total investment return based on market price(e) | (4.14 | )% | 8.36 | %(f) | |||||||
Ratios/Supplemental Data | |||||||||||
Net assets, end of period (000’s omitted) | $ | 348,555 | $ | 465,347 | |||||||
Ratio to average net assets of: | |||||||||||
Expenses net of waivers/reimbursements(g) | 0.35 | % | 0.35 | %(h) | |||||||
Expenses excluding waivers/reimbursements(g) | 0.36 | % | 0.36 | %(h) | |||||||
Net investment income (loss)(c) | 1.01 | % | 0.61 | %(h) | |||||||
Portfolio turnover rate(i) | 57 | % | 106 | % |
(a) | Commencement of operations. |
(b) | Based on average shares outstanding. |
(c) | 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. |
(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. |
(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) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(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 Chaikin U.S. Large Cap ETF | |||||||||||
For the Year Ended April 30, 2019 | For the Period December 13, 2017(a) to April 30, 2018 | ||||||||||
Net asset value, beginning of period | $ | 25.30 | $ | 25.05 | |||||||
Income from Investment Operations | |||||||||||
Net investment income(b)(c) | 0.48 | 0.15 | |||||||||
Net realized and unrealized gain (loss) | (0.53 | ) | 0.18 | (d) | |||||||
Net increase (decrease) in net assets resulting from investment operations | (0.05 | ) | 0.33 | ||||||||
Distributions from: | |||||||||||
Net investment income | (0.50 | ) | (0.08 | ) | |||||||
Net asset value, end of period | $ | 24.75 | $ | 25.30 | |||||||
Market price, end of period | $ | 24.75 | $ | 25.30 | |||||||
Total Return | |||||||||||
Total investment return based on net asset value(e) | (0.13 | )% | 1.31 | % | |||||||
Total investment return based on market price(f) | (0.13 | )% | 1.32 | %(g) | |||||||
Ratios/Supplemental Data | |||||||||||
Net assets, end of period (000’s omitted) | $ | 278,412 | $ | 320,000 | |||||||
Ratio to average net assets of: | |||||||||||
Expenses net of waivers/reimbursements(h) | 0.25 | % | 0.25 | %(i) | |||||||
Expenses excluding waivers/reimbursements(h) | 0.26 | % | 0.26 | %(i) | |||||||
Net investment income (loss)(c) | 1.97 | % | 1.59 | %(i) | |||||||
Portfolio turnover rate(j) | 52 | % | 94 | % |
(a) | Commencement of operations. |
(b) | Based on average shares outstanding. |
(c) | 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. |
(d) | 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. |
(e) | 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. |
(f) | The market price returns are calculated using the mean between the last bid and ask prices. |
(g) | Since the Shares of the Funds did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate the market returns. |
(h) | In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(i) | Annualized. |
(j) | 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 Real Return ETF* | Non-diversified | October 27, 2009 | ||
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 Short Duration Enhanced Core Bond U.S. ETF* | Diversified | December 18, 2018 | ||
IQ Merger Arbitrage ETF | Non-diversified | November 17, 2009 | ||
IQ Global Resources 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 S&P High Yield Low Volatility Bond ETF | Diversified | February 15, 2017 | ||
IQ 500 International ETF | Diversified | December 13, 2018 | ||
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 Chaikin U.S. Small Cap ETF | Diversified | May 16, 2017 | ||
IQ Chaikin U.S. Large Cap ETF | Diversified | December 13, 2017 |
* | Funds are “fund of funds”, meaning that they seek 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”). Such ETFs, ETVs and ETNs are referred to collectively as exchange-traded products (“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 Real Return ETF | IQ Real Return 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 Short Duration Enhanced Core Bond U.S. ETF | IQ Short Duration Enhanced Core Bond U.S. Index | |
IQ Merger Arbitrage ETF | IQ Merger Arbitrage Index | |
IQ Global Resources ETF | IQ Global Resources 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 S&P High Yield Low Volatility Bond ETF | S&P U.S. High Yield Low Volatility Corporate Bond Index | |
IQ 500 International ETF | IQ 500 International 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 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, 2019
Notes to Financial Statements(continued)
April 30, 2019
• | 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, 2019
Notes to Financial Statements(continued)
April 30, 2019
Notes to Financial Statements(continued)
April 30, 2019
the Funds as a reduction to the cost basis of the REIT. The expenses of the investment companies in which the Funds invest 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, 2019
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 | $ | 86,985,349 | $ | 13,826 | $ | 35,480 | $ | 85,540,881 | $ | 172,575,536 | ||||||||||||
IQ Hedge Macro Tracker ETF | 991,018 | — | — | 233,676 | 1,224,694 | |||||||||||||||||
IQ Hedge Market Neutral Tracker ETF | 2,613,985 | — | — | 2,014,726 | 4,628,711 | |||||||||||||||||
IQ Hedge Long/Short Tracker ETF | 789,998 | 389 | — | 703,118 | 1,493,505 | |||||||||||||||||
IQ Hedge Event-Driven Tracker ETF | 175,698 | — | — | 964,394 | 1,140,092 | |||||||||||||||||
IQ Real Return ETF | 10,081,653 | 166,475 | — | 5,702,133 | 15,950,261 | |||||||||||||||||
IQ Leaders GTAA Tracker ETF | 4,075,170 | — | 21,892 | 2,288,380 | 6,385,442 | |||||||||||||||||
IQ Enhanced Core Bond U.S. ETF | — | 39,371 | — | 4,562,916 | 4,602,287 | |||||||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 1,116,868 | — | — | 6,499,818 | 7,616,686 | |||||||||||||||||
IQ Short Duration Enhanced Core Bond U.S. ETF | 85,755 | — | — | — | 85,755 | |||||||||||||||||
IQ Merger Arbitrage ETF | 26,117,837 | 134 | — | 6,216,427 | 32,334,398 | |||||||||||||||||
IQ Global Resources ETF | 3,586,080 | 65,216 | 3,893 | 2,151,914 | 5,807,103 | |||||||||||||||||
IQ Global Agribusiness Small Cap ETF | 594,995 | 3,084 | 22,093 | 109,312 | 729,484 | |||||||||||||||||
IQ U.S. Real Estate Small Cap ETF | 3,241,315 | 88,074 | 143,713 | 11,748,931 | 15,222,033 | |||||||||||||||||
IQ S&P High Yield Low Volatility Bond ETF | 1,729,250 | — | 4,007 | 126,757 | 1,860,014 | |||||||||||||||||
IQ 500 International ETF | 3,265,837 | — | — | 61,890 | 3,327,727 | |||||||||||||||||
IQ 50 Percent Hedged FTSE International ETF | 9,981,686 | — | 3,088 | 748,889 | 10,733,663 | |||||||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 696,634 | — | 133 | 7,297 | 704,064 | |||||||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 36,999 | 632 | — | 18,736 | 56,367 | |||||||||||||||||
IQ Chaikin U.S. Small Cap ETF | 5,238,855 | 245,540 | 198,506 | 32,425,710 | 38,108,611 | |||||||||||||||||
IQ Chaikin U.S. Large Cap ETF | — | 122,388 | 21,746 | 8,619,923 | 8,764,057 |
Notes to Financial Statements(continued)
April 30, 2019
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 Leaders GTAA Tracker ETF IQ Merger Arbitrage ETF IQ Global Resources ETF |
Assets | Liabilities | |||||||||||||||||||||||||
Fund | Gross Amounts Presented in Statements of Assets and Liabilities | Collateral Received(1) | Net Amount | Gross Amounts Presented in Statements of Assets and Liabilities | Collateral Pledged | Net Amount | ||||||||||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | $ | 169,075,017 | $ | (169,075,017 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||
IQ Hedge Macro Tracker ETF | 1,199,595 | (1,199,595 | ) | — | — | — | — | |||||||||||||||||||
IQ Hedge Market Neutral Tracker ETF | 4,535,071 | (4,535,071 | ) | — | — | — | — | |||||||||||||||||||
IQ Hedge Long/Short Tracker ETF | 1,462,836 | (1,462,836 | ) | — | — | — | — | �� | ||||||||||||||||||
IQ Hedge Event-Driven Tracker ETF | 1,116,268 | (1,116,268 | ) | — | — | — | — | |||||||||||||||||||
IQ Real Return ETF | 15,618,184 | (15,618,184 | ) | — | — | — | — | |||||||||||||||||||
IQ Leaders GTAA Tracker ETF | 6,257,252 | (6,257,252 | ) | — | — | — | — | |||||||||||||||||||
IQ Enhanced Core Bond U.S. ETF | 4,507,592 | (4,507,592 | ) | — | — | — | — | |||||||||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 7,453,730 | (7,453,730 | ) | — | — | — | — | |||||||||||||||||||
IQ Short Duration Enhanced Core Bond U.S. ETF | 84,111 | (84,111 | ) | — | — | — | — | |||||||||||||||||||
IQ Merger Arbitrage ETF | 30,647,713 | (30,647,713 | ) | — | — | — | — | |||||||||||||||||||
IQ Global Resources ETF | 5,535,999 | (5,535,999 | ) | — | — | — | — | |||||||||||||||||||
IQ Global Agribusiness Small Cap ETF | 678,369 | (678,369 | ) | — | — | — | — | |||||||||||||||||||
IQ U.S. Real Estate Small Cap ETF | 14,857,669 | (14,857,669 | ) | — | — | — | — | |||||||||||||||||||
IQ S&P High Yield Low Volatility Bond ETF | 1,793,191 | (1,793,191 | ) | — | — | — | — | |||||||||||||||||||
IQ 500 International ETF | 3,158,681 | (3,158,681 | ) | — | — | — | — | |||||||||||||||||||
IQ 50 Percent Hedged FTSE International ETF | 10,204,882 | (10,204,882 | ) | — | — | — | — | |||||||||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 671,099 | (671,099 | ) | — | — | — | — | |||||||||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 52,929 | (52,929 | ) | — | — | — | — | |||||||||||||||||||
IQ Chaikin U.S. Small Cap ETF | 36,791,699 | (36,791,699 | ) | — | — | — | — | |||||||||||||||||||
IQ Chaikin U.S. Large Cap ETF | 8,581,399 | (8,581,399 | ) | — | — | — | — |
1 | The amount of collateral presented is limited such that the net amount cannot be less than $0. |
Notes to Financial Statements(continued)
April 30, 2019
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 | $ | 1,354,629 | $ | (127,041 | ) | $ | 1,227,588 | $ | 127,041 | $ | (127,041 | ) | $ | — | ||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | ||||||||||||||||||||||||||
Morgan Stanley | 31,004 | (2,066 | ) | 28,938 | 2,066 | (2,066 | ) | — | ||||||||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | ||||||||||||||||||||||||||
Merrill Lynch | 27,725 | (2,808 | ) | 24,917 | 2,808 | (2,808 | ) | — |
Notes to Financial Statements(continued)
April 30, 2019
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 Real Return ETF | 0.48 | |||
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 Short Duration Enhanced Core Bond U.S. ETF | 0.20 | |||
IQ Merger Arbitrage ETF | 0.75 | |||
IQ Global Resources ETF | 0.75 | |||
IQ Global Agribusiness Small Cap ETF | 0.75 | |||
IQ U.S. Real Estate Small Cap ETF | 0.69 | |||
IQ S&P High Yield Low Volatility Bond ETF | 0.40 | |||
IQ 500 International ETF | 0.25 | |||
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 Chaikin U.S. Small Cap ETF | 0.35 | |||
IQ Chaikin U.S. Large Cap ETF | 0.25 |
Fund | Rate | Expires | ||||||||
IQ Hedge Multi-Strategy Tracker ETF | 0.22 | % | 8/31/2019 | |||||||
IQ Real Return ETF | 0.28 | 8/31/2020 | ||||||||
IQ 50 Percent Hedged FTSE International ETF | 0.20 | 8/31/2019 | ||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 0.30 | 8/31/2019 | ||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 0.30 | 8/31/2019 | ||||||||
IQ Leaders GTAA Tracker ETF | 0.23 | 8/31/2020 | ||||||||
IQ Enhanced Core Bond U.S. ETF | 0.05 | 8/31/2019 | ||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 0.05 | 8/31/2019 |
Fund | Rate | Expires | ||||||||
IQ Short Duration Enhanced Core Bond U.S. ETF | 0.20 | % | 8/31/2020 | |||||||
IQ S&P High Yield Low Volatility Bond ETF | 0.40 | 8/31/2019 | ||||||||
IQ 500 International ETF | 0.25 | 8/31/2020 | ||||||||
IQ Chaikin U.S. Small Cap ETF | 0.35 | 8/31/2019 | ||||||||
IQ Chaikin U.S. Large Cap ETF | 0.25 | 8/31/2019 |
Notes to Financial Statements(continued)
April 30, 2019
Notes to Financial Statements(continued)
April 30, 2019
Fund | Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation/ (Depreciation) | ||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | $ | 1,069,613,744 | $ | 14,187,665 | $ | (1,967,155 | ) | 12,220,510 | ||||||||
IQ Hedge Macro Tracker ETF | 6,205,029 | 88,181 | (46,679 | ) | 41,502 | |||||||||||
IQ Hedge Market Neutral Tracker ETF | 18,188,170 | 218,444 | (21,110 | ) | 197,334 | |||||||||||
IQ Hedge Long/Short Tracker ETF | 7,203,800 | 89,855 | (41,708 | ) | 48,147 | |||||||||||
IQ Hedge Event-Driven Tracker ETF | 4,368,620 | 65,847 | (4,317 | ) | 61,530 | |||||||||||
IQ Real Return ETF | 65,984,571 | 1,338,593 | (189,050 | ) | 1,149,543 | |||||||||||
IQ Leaders GTAA Tracker ETF | 46,562,719 | 1,175,355 | (44,968 | ) | 1,130,387 | |||||||||||
IQ Enhanced Core Bond U.S. ETF | 87,392,471 | 1,210,855 | — | 1,210,855 | ||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 155,361,330 | 2,275,646 | (820 | ) | 2,274,826 | |||||||||||
IQ Short Duration Enhanced Core Bond U.S. ETF | 3,858,426 | 33,096 | — | 33,096 | ||||||||||||
IQ Merger Arbitrage ETF | 1,009,069,367 | 32,227,473 | (15,104,137 | ) | 17,123,336 | |||||||||||
IQ Global Resources ETF | 179,720,118 | 6,668,918 | (7,929,968 | ) | (1,261,050 | ) | ||||||||||
IQ Global Agribusiness Small Cap ETF | 10,365,824 | 1,702,713 | (1,627,663 | ) | 75,050 | |||||||||||
IQ U.S. Real Estate Small Cap ETF | 78,538,778 | 7,399,154 | (11,127,592 | ) | (3,728,438 | ) | ||||||||||
IQ S&P High Yield Low Volatility Bond ETF | 65,958,004 | 764,762 | (274,802 | ) | 489,960 | |||||||||||
IQ 500 International ETF | 83,210,956 | 6,604,366 | (1,379,172 | ) | 5,225,194 | |||||||||||
IQ 50 Percent Hedged FTSE International ETF | 312,937,405 | 14,993,267 | (37,100,720 | ) | (22,107,453 | ) | ||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 10,703,663 | 332,885 | (1,460,854 | ) | (1,127,969 | ) | ||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 6,296,578 | 702,825 | (748,420 | ) | (45,595 | ) | ||||||||||
IQ Chaikin U.S. Small Cap ETF | 355,481,813 | 20,232,870 | (21,919,204 | ) | (1,686,334 | ) | ||||||||||
IQ Chaikin U.S. Large Cap ETF | 285,517,438 | 8,356,315 | (15,655,358 | ) | (7,299,043 | ) |
Notes to Financial Statements(continued)
April 30, 2019
Fund | Ordinary Income (Loss)1 | Net Capital Gain (Losses)2 | Net Unrealized Appreciation/ Depreciation | Total Earnings/ (Losses) | ||||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | $ | 9,104,193 | $ | (51,711,861 | ) | $ | 12,220,510 | $ | (30,387,158 | ) | ||||||||
IQ Hedge Macro Tracker ETF | 53,004 | (5,474,704 | ) | 41,502 | (5,380,198 | ) | ||||||||||||
IQ Hedge Market Neutral Tracker ETF | 239,942 | (452,775 | ) | 197,334 | (15,499 | ) | ||||||||||||
IQ Hedge Long/Short Tracker ETF | 675 | (319,344 | ) | 48,147 | (270,522 | ) | ||||||||||||
IQ Hedge Event-Driven Tracker ETF | 34,885 | (82,796 | ) | 61,530 | 13,619 | |||||||||||||
IQ Real Return ETF | 335,111 | (2,350,466 | ) | 1,149,543 | (865,812 | ) | ||||||||||||
IQ Leaders GTAA Tracker ETF | — | (1,956,033 | ) | 1,130,387 | (825,646 | ) | ||||||||||||
IQ Enhanced Core Bond U.S. ETF | — | (5,434,534 | ) | 1,210,855 | (4,223,679 | ) | ||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | — | (20,071,091 | ) | 2,274,826 | (17,796,265 | ) | ||||||||||||
IQ Short Duration Enhanced Core Bond U.S. ETF | — | (597 | ) | 33,096 | 32,499 | |||||||||||||
IQ Merger Arbitrage ETF | (23,678,582 | ) | (12,930,826 | ) | 17,100,432 | (19,508,976 | ) | |||||||||||
IQ Global Resources ETF | 2,545,700 | (53,116,840 | ) | (1,267,574 | ) | (51,838,714 | ) | |||||||||||
IQ Global Agribusiness Small Cap ETF | 52,708 | (7,429,693 | ) | 74,671 | (7,302,314 | ) | ||||||||||||
IQ U.S. Real Estate Small Cap ETF | — | (4,267,961 | ) | (3,728,438 | ) | (7,996,399 | ) | |||||||||||
IQ S&P High Yield Low Volatility Bond ETF | 264,390 | (2,953,554 | ) | 489,960 | (2,199,204 | ) | ||||||||||||
IQ 500 International ETF | 939,296 | — | 5,222,177 | 6,161,473 | ||||||||||||||
IQ 50 Percent Hedged FTSE International ETF | 1,940,768 | (3,582,397 | ) | (22,153,283 | ) | (23,794,912 | ) | |||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | — | (2,246,140 | ) | (1,141,870 | ) | (3,388,010 | ) | |||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 122,520 | (1,583,845 | ) | (45,808 | ) | (1,507,133 | ) | |||||||||||
IQ Chaikin U.S. Small Cap ETF | — | (40,289,263 | ) | (1,686,334 | ) | (41,975,597 | ) | |||||||||||
IQ Chaikin U.S. Large Cap ETF | 250,370 | (20,955,094 | ) | (7,299,043 | ) | (28,003,767 | ) |
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, 2019
Fund | Total distributable earnings/ (accumulated loss) | Paid-in capital | |||||||||
IQ Hedge Multi-Strategy Tracker ETF | $ | (1,824,572 | ) | $ | 1,824,572 | ||||||
IQ Hedge Macro Tracker ETF | 505,750 | (505,750 | ) | ||||||||
IQ Hedge Market Neutral Tracker ETF | (129,443 | ) | 129,443 | ||||||||
IQ Hedge Long/Short Tracker ETF | (421,926 | ) | 421,926 | ||||||||
IQ Hedge Event-Driven Tracker ETF | (100,963 | ) | 100,963 | ||||||||
IQ Real Return ETF | (31,473 | ) | 31,473 | ||||||||
IQ Leaders GTAA Tracker ETF | (502,583 | ) | 502,583 | ||||||||
IQ Enhanced Core Bond U.S. ETF | 288,892 | (288,892 | ) | ||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 567,348 | (567,348 | ) | ||||||||
IQ Short Duration Enhanced Core Bond U.S. ETF | (17,734 | ) | 17,734 | ||||||||
IQ Merger Arbitrage ETF | (20,329,648 | ) | 20,329,648 | ||||||||
IQ Global Resources ETF | (6,289,844 | ) | 6,289,844 | ||||||||
IQ Global Agribusiness Small Cap ETF | (355,678 | ) | 355,678 | ||||||||
IQ U.S. Real Estate Small Cap ETF | 2,216,913 | (2,216,913 | ) | ||||||||
IQ S&P High Yield Low Volatility Bond ETF | 244,609 | (244,609 | ) | ||||||||
IQ 500 International ETF | — | — | |||||||||
IQ 50 Percent Hedged FTSE International ETF | (8,532,492 | ) | 8,532,492 | ||||||||
IQ 50 Percent Hedged FTSE Europe ETF | (14,651,728 | ) | 14,651,728 | ||||||||
IQ 50 Percent Hedged FTSE Japan ETF | (2,129,421 | ) | 2,129,421 | ||||||||
IQ Chaikin U.S. Small Cap ETF | (6,663,256 | ) | 6,663,256 | ||||||||
IQ Chaikin U.S. Large Cap ETF | (21,098,890 | ) | 21,098,890 |
Notes to Financial Statements(continued)
April 30, 2019
2019 | 2018 | |||||||||||||||||||||||||
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 | $ | 24,498,116 | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
IQ Hedge Macro Tracker ETF | 69,928 | — | — | — | — | — | ||||||||||||||||||||
IQ Hedge Market Neutral Tracker ETF | — | — | — | — | — | — | ||||||||||||||||||||
IQ Hedge Long/Short Tracker ETF | 190,276 | — | — | 16,706 | — | — | ||||||||||||||||||||
IQ Hedge Event-Driven Tracker ETF | 129,849 | — | — | 70,341 | — | — | ||||||||||||||||||||
IQ Real Return ETF | 730,380 | — | — | 308,837 | — | — | ||||||||||||||||||||
IQ Leaders GTAA Tracker ETF | 1,367,155 | — | — | 1,005,870 | �� | — | — | |||||||||||||||||||
IQ Enhanced Core Bond U.S. ETF | 1,624,788 | — | — | 1,575,071 | — | — | ||||||||||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 6,882,062 | — | — | 9,263,899 | — | — | ||||||||||||||||||||
IQ Short Duration Enhanced Core Bond U.S. ETF | 28,586 | — | — | — | — | — | ||||||||||||||||||||
IQ Merger Arbitrage ETF | — | — | — | — | — | — | ||||||||||||||||||||
IQ Global Resources ETF | 1,346,949 | — | — | — | — | — | ||||||||||||||||||||
IQ Global Agribusiness Small Cap ETF | 98,945 | — | — | 109,575 | — | — | ||||||||||||||||||||
IQ U.S. Real Estate Small Cap ETF | 2,374,318 | — | 2,583,466 | 3,563,539 | — | 2,075,765 | ||||||||||||||||||||
IQ S&P High Yield Low Volatility Bond ETF | 3,901,103 | — | — | 3,536,709 | — | — | ||||||||||||||||||||
IQ 500 International ETF | 15,344 | — | — | — | — | — | ||||||||||||||||||||
IQ 50 Percent Hedged FTSE International ETF | 18,743,014 | 721,412 | — | 8,843,710 | — | — | ||||||||||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 417,662 | — | — | 3,305,273 | — | — | ||||||||||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 545,585 | — | — | 544,769 | — | — | ||||||||||||||||||||
IQ Chaikin U.S. Small Cap ETF | 4,624,785 | — | — | 1,436,366 | — | — | ||||||||||||||||||||
IQ Chaikin U.S. Large Cap ETF | 7,178,905 | — | — | 916,233 | — | — |
Notes to Financial Statements(continued)
April 30, 2019
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 Real Return ETF | — | — | — | |||||||||||
IQ Leaders GTAA Tracker ETF | — | 592,857 | 27,452 | |||||||||||
IQ Enhanced Core Bond U.S. ETF | — | — | — | |||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | — | — | — | |||||||||||
IQ Short Duration Enhanced Core Bond U.S. ETF | — | — | — | |||||||||||
IQ Merger Arbitrage ETF | 23,678,582 | — | — | |||||||||||
IQ Global Resources ETF | — | — | — | |||||||||||
IQ Global Agribusiness Small Cap ETF | — | — | — | |||||||||||
IQ U.S. Real Estate Small Cap ETF | — | — | — | |||||||||||
IQ S&P High Yield Low Volatility Bond ETF | — | — | — | |||||||||||
IQ 500 International ETF | — | — | — | |||||||||||
IQ 50 Percent Hedged FTSE International ETF | — | 1,282,778 | 2,299,619 | |||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | — | — | — | |||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | — | — | — | |||||||||||
IQ Chaikin U.S. Small Cap ETF | — | 25,812,206 | 8,678,233 | |||||||||||
IQ Chaikin U.S. Large Cap ETF | — | — | — |
Notes to Financial Statements(continued)
April 30, 2019
Fund | 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 | $ | 3,957,181 | $ | 51,711,861 | $ | — | ||||||||||
IQ Hedge Macro Tracker ETF | 531,209 | 27,218 | 4,279,620 | 1,195,084 | ||||||||||||||
IQ Hedge Market Neutral Tracker ETF | — | — | 425,001 | 27,774 | ||||||||||||||
IQ Hedge Long/Short Tracker ETF | — | — | 187,592 | 131,752 | ||||||||||||||
IQ Hedge Event-Driven Tracker ETF | — | — | 45,993 | 36,803 | ||||||||||||||
IQ Real Return ETF | — | — | 1,079,470 | 1,270,996 | ||||||||||||||
IQ Leaders GTAA Tracker ETF | — | — | 1,212,750 | 122,974 | ||||||||||||||
IQ Enhanced Core Bond U.S. ETF | — | — | 4,053,878 | 1,380,656 | ||||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | — | — | 18,916,701 | 1,154,390 | ||||||||||||||
IQ Short Duration Enhanced Core Bond U.S. ETF | — | — | 597 | — | ||||||||||||||
IQ Merger Arbitrage ETF | — | — | 12,930,826 | — | ||||||||||||||
IQ Global Resources ETF | — | — | 28,802,974 | 24,313,866 | ||||||||||||||
IQ Global Agribusiness Small Cap ETF | — | 1,224,465 | 2,742,804 | 4,686,889 | ||||||||||||||
IQ U.S. Real Estate Small Cap ETF | — | — | 1,196,038 | 3,071,923 | ||||||||||||||
IQ S&P High Yield Low Volatility Bond ETF | — | — | 2,314,674 | 638,880 | ||||||||||||||
IQ 500 International ETF | — | — | — | — | ||||||||||||||
IQ 50 Percent Hedged FTSE International ETF | — | 7,719,162 | — | — | ||||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | — | 2,508,944 | — | 2,246,140 | * | |||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | — | 130,332 | 782,534 | 801,311 | ||||||||||||||
IQ Chaikin U.S. Small Cap ETF | — | 1,796,558 | 5,798,824 | — | ||||||||||||||
IQ Chaikin U.S. Large Cap ETF | — | — | 17,886,687 | 3,068,407 |
* | Subject to annual limitation on utilization. |
Fund | % Ownership | |||||
IQ Hedge Long/Short Tracker ETF | 26.7 | % | ||||
IQ Hedge Event-Driven Tracker ETF | 40.0 | |||||
IQ Leaders GTAA Tracker ETF | 67.6 | |||||
IQ Short Duration Enhanced Core Bond U.S. ETF | 80.0 | |||||
IQ S&P High Yield Low Volatility Bond ETF | �� | 43.6 | ||||
IQ 500 International ETF | 6.5 | |||||
IQ 50 Percent Hedged FTSE Japan ETF | 34.4 | |||||
IQ Chaikin U.S. Small Cap ETF | 11.9 |
Notes to Financial Statements(continued)
April 30, 2019
Fund | % Ownership | |||||
IQ Enhanced Core Bond U.S. ETF | 90.1 | % | ||||
IQ Enhanced Core Plus Bond U.S. ETF | 37.1 | |||||
IQ Global Resources ETF | 71.7 | |||||
IQ S&P High Yield Low Volatility Bond ETF | 41.0 | |||||
IQ 500 International ETF | 89.2 | |||||
IQ 50 Percent Hedged FTSE International ETF | 72.5 | |||||
IQ Chaikin U.S. Small Cap ETF | 73.6 | |||||
IQ Chaikin U.S. Large Cap ETF | 93.3 |
Fund | Purchases | Sales | Purchases In-Kind | Sales In-Kind | ||||||||||||||
IQ Hedge Multi-Strategy Tracker ETF | $ | 1,562,701,080 | $ | 1,564,531,808 | $ | 330,392,037 | $ | 456,729,461 | ||||||||||
IQ Hedge Macro Tracker ETF | 5,197,144 | 5,164,365 | — | 1,296,043 | ||||||||||||||
IQ Hedge Market Neutral Tracker ETF | 14,926,833 | 15,137,570 | 3,804,824 | 832,044 | ||||||||||||||
IQ Hedge Long/Short Tracker ETF | 6,190,362 | 6,528,113 | 6,282,748 | 8,558,748 | ||||||||||||||
IQ Hedge Event-Driven Tracker ETF | 1,136,970 | 2,098,064 | 3,144,074 | 1,154,114 | ||||||||||||||
IQ Real Return ETF | 51,317,330 | 51,125,352 | 13,889,997 | 2,743,139 | ||||||||||||||
IQ Leaders GTAA Tracker ETF | 77,538,696 | 78,045,193 | 7,152,986 | 13,085,309 | ||||||||||||||
IQ Enhanced Core Bond U.S. ETF | 183,095,341 | 183,003,327 | 97,129,653 | 60,881,881 | ||||||||||||||
IQ Enhanced Core Plus Bond U.S. ETF | 943,374,271 | 943,010,495 | 25,593,812 | 203,642,246 | ||||||||||||||
IQ Short Duration Enhanced Core Bond U.S. ETF | 2,622,500 | 2,626,991 | 8,792,798 | 5,039,222 | ||||||||||||||
IQ Merger Arbitrage ETF | 2,134,942,056 | 2,130,371,218 | 552,961,151 | 172,152,406 | ||||||||||||||
IQ Global Resources ETF | 268,923,864 | 259,168,760 | 56,082,261 | 109,483,522 | ||||||||||||||
IQ Global Agribusiness Small Cap ETF | 3,524,387 | 3,441,696 | — | 1,619,169 | ||||||||||||||
IQ U.S. Real Estate Small Cap ETF | 20,095,010 | 20,386,095 | 1,349,902 | 14,954,730 | ||||||||||||||
IQ S&P High Yield Low Volatility Bond ETF | 70,758,604 | 69,601,374 | — | 42,256,981 | ||||||||||||||
IQ 500 International ETF | 2,193,861 | 68,409 | 77,731,283 | — | ||||||||||||||
IQ 50 Percent Hedged FTSE International ETF | 56,576,129 | 58,480,954 | 27,563,511 | 269,443,313 | ||||||||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 5,749,568 | 3,123,640 | — | 158,025,822 | ||||||||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 2,438,287 | 1,748,100 | — | 24,753,955 | ||||||||||||||
IQ Chaikin U.S. Small Cap ETF | 249,626,978 | 249,309,408 | 93,706,101 | 179,766,753 | ||||||||||||||
IQ Chaikin U.S. Large Cap ETF | 183,097,522 | 183,400,508 | 609,012,569 | 646,141,846 |
Notes to Financial Statements(continued)
April 30, 2019
Notes to Financial Statements(continued)
April 30, 2019
| Currency Risk | |||||
IQ 50 Percent Hedged FTSE International ETF | ||||||
Unrealized appreciation on forward foreign currency contracts | $ | 1,354,629 | ||||
IQ 50 Percent Hedged FTSE Europe ETF | ||||||
Unrealized appreciation on forward foreign currency contracts | 31,004 | |||||
IQ 50 Percent Hedged FTSE Japan ETF | ||||||
Unrealized appreciation on forward foreign currency contracts | 27,725 |
| Currency Risk | |||||
IQ 50 Percent Hedged FTSE International ETF | ||||||
Unrealized depreciation on forward foreign currency contracts | $ | 127,041 | ||||
IQ 50 Percent Hedged FTSE Europe ETF | ||||||
Unrealized depreciation on forward foreign currency contracts | 2,066 | |||||
IQ 50 Percent Hedged FTSE Japan ETF | ||||||
Unrealized depreciation on forward foreign currency contracts | 2,808 |
Notes to Financial Statements(continued)
April 30, 2019
Fund | Currency Risk | Equity Risk | ||||||||
IQ Hedge Multi-Strategy Tracker ETF | ||||||||||
Realized gain (loss) | ||||||||||
Swap transactions | $ | (5,312,617 | ) | |||||||
IQ Hedge Macro Tracker ETF | ||||||||||
Realized gain (loss) | ||||||||||
Swap transactions | (779 | ) | ||||||||
IQ Hedge Market Neutral Tracker ETF | ||||||||||
Realized gain (loss) | ||||||||||
Swap transactions | (61,510 | ) | ||||||||
IQ Hedge Long/Short Tracker ETF | ||||||||||
Realized gain (loss) | ||||||||||
Swap transactions | (36,091 | ) | ||||||||
IQ Hedge Event-Driven Tracker ETF | ||||||||||
Realized gain (loss) | ||||||||||
Swap transactions | 444 | |||||||||
IQ Leaders GTAA Tracker ETF | ||||||||||
Realized gain (loss) | ||||||||||
Swap transactions | (328,489 | ) | ||||||||
IQ Merger Arbitrage ETF | ||||||||||
Realized gain (loss) | ||||||||||
Swap transactions | (26,863,752 | ) | ||||||||
Forward foreign currency contracts | $ | (5,150 | ) | �� | ||||||
IQ Global Resources ETF | ||||||||||
Realized gain (loss) | ||||||||||
Swap transactions | (994,330 | ) | ||||||||
Forward foreign currency contracts | 54 | |||||||||
IQ 50 Percent Hedged FTSE International ETF | ||||||||||
Realized gain (loss) | ||||||||||
Swap transactions | (58,365 | ) | ||||||||
Forward foreign currency contracts | 23,209,042 | |||||||||
Change in unrealized appreciation (depreciation) | ||||||||||
Forward foreign currency contracts | (4,876,917 | ) | ||||||||
IQ 50 Percent Hedged FTSE Europe ETF | ||||||||||
Realized gain (loss) | ||||||||||
Swap transactions | (1,757 | ) | ||||||||
Forward foreign currency contracts | 4,377,403 | |||||||||
Change in unrealized appreciation (depreciation) | ||||||||||
Forward foreign currency contracts | (1,771,299 | ) | ||||||||
IQ 50 Percent Hedged FTSE Japan ETF | ||||||||||
Realized gain (loss) | ||||||||||
Forward foreign currency contracts | 798,491 | |||||||||
Change in unrealized appreciation (depreciation) | ||||||||||
Forward foreign currency contracts | (476,184 | ) |
Notes to Financial Statements(continued)
April 30, 2019
Average Notional Value
| |||||||||||||||||||||||||
IQ Hedge | IQ Hedge | IQ Hedge | IQ Hedge | IQ Hedge | IQ Leaders | ||||||||||||||||||||
Asset Derivatives | |||||||||||||||||||||||||
Swap contracts | $ | 114,732,796 | $ | 624,201 | $ | 1,387,801 | $ | 653,470 | $ | 97,875 | $ | 5,415,803 | |||||||||||||
Forward foreign currency contracts | — | — | — | — | — | — | |||||||||||||||||||
Liability Derivatives | |||||||||||||||||||||||||
Swap contracts | $ | (115,117,144 | ) | $ | (625,998 | ) | $ | (1,390,308 | ) | $ | (657,254 | ) | $ | (97,781 | ) | $ | (5,417,907 | ) | |||||||
Forward foreign currency contracts | — | — | — | — | — | — |
Average Notional Value | |||||||||||||||||||||
IQ Merger | IQ Global | IQ 50 Percent | IQ 50 Percent | IQ 50 Percent | |||||||||||||||||
Asset Derivatives | |||||||||||||||||||||
Swap contracts | $ | — | $ | — | $ | 248,218 | $ | 8,673 | $ | — | |||||||||||
Forward foreign currency contracts | — | — | 697,961,838 | 60,022,837 | 39,693,033 | ||||||||||||||||
Liability Derivatives | |||||||||||||||||||||
Swap contracts | $ | (226,463,038 | ) | $ | (44,197,935 | ) | $ | — | $ | — | $ | — | |||||||||
Forward foreign currency contracts | — | — | (696,182,190 | ) | (59,691,660 | ) | (39,635,417 | ) |
* | The Fund had derivative activity during the year but did not have open positions at any month-end during the period. |
Notes to Financial Statements(continued)
April 30, 2019
Notes to Financial Statements(continued)
April 30, 2019
Notes to Financial Statements(continued)
April 30, 2019
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, IQ Enhanced Core Plus Bond U.S. ETF and IQ Short Duration Enhanced Core 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, IQ Short Duration Enhanced Core Bond U.S. ETF and IQ S&P High Yield Low Volatility Bond ETF. |
6 | Applies to IQ Short Duration Enhanced Core Bond U.S. ETF and IQ 500 International ETF. |
Report of Independent Registered Public Accounting Firm
April 30, 2019
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, 2019 | For the years ended April 30, 2019 and 2018 | For the years ended April 30, 2019, 2018, 2017, 2016 and 2015 | |||
IQ Hedge Event-Driven Tracker ETF IQ Hedge Long/Short Tracker ETF | For the year ended April 30, 2019 | For the years ended April 30, 2019 and 2018 | For the years ended April 30, 2019, 2018, 2017 and 2016, and the period from March 24, 2015 (commencement of operations) through 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, 2019 | For the years ended April 30, 2019 and 2018 | For the years ended April 30, 2019, 2018 and 2017, and the period from July 22, 2015 (commencement of operations) through April 30, 2016 | |||
IQ Leaders GTAA Tracker ETF | For the year ended April 30, 2019 | For the years ended April 30, 2019 and 2018 | For the years ended April 30, 2019, 2018 and 2017, and the period from September 30, 2015 (commencement of operations) through April 30, 2016 |
Report of Independent Registered Public Accounting Firm
April 30, 2019
Individual Fund Comprising the IndexIQ ETF Trust | Statement of Operations | | Statements of Changes in Net Assets | | Financial Highlights | |
IQ Enhanced Core Bond U.S. ETF IQ Enhanced Core Plus Bond U.S. ETF | For the year ended April 30, 2019 | For the years ended April 30, 2019 and 2018 | For the years ended April 30, 2019 and 2018, and the period from May 10, 2016 (commencement of operations) through April 30, 2017 | |||
IQ S&P High Yield Low Volatility Bond ETF | For the year ended April 30, 2019 | For the years ended April 30, 2019 and 2018 | For the years ended April 30, 2019 and 2018, and the period from February 15, 2017 (commencement of operations) through April 30, 2017 |
IQ Chaikin U.S. Small Cap ETF | For the year ended April 30, 2019 | For the year ended April 30, 2019 and the period from May 16, 2017 (commencement of operations) through April 30, 2018 | ||
IQ Chaikin U.S. Large Cap ETF | For the year ended April 30, 2019 | For the year ended April 30, 2019 and the period from December 13, 2017 (commencement of operations) through April 30, 2018 |
IQ 500 International ETF | For the period December 13, 2018 (commencement of operations) through April 30, 2019 | |
IQ Short Duration Enhanced Core Bond U.S. ETF | For the period December 18, 2018 (commencement of operations) through April 30, 2019 |
New York, New York
June 27, 2019
IQ Hedge Multi-Strategy Tracker ETF | 28.71 | % | ||||
IQ Hedge Macro Tracker ETF | 40.35 | |||||
IQ Hedge Market Neutral Tracker ETF | 0.00 | |||||
IQ Hedge Long/Short Tracker ETF | 50.19 | |||||
IQ Hedge Event-Driven Tracker ETF | 9.54 | |||||
IQ Real Return ETF | 5.29 | |||||
IQ Leaders GTAA Tracker ETF | 41.44 | |||||
IQ Enhanced Core Bond U.S. ETF | 0.00 | |||||
IQ Enhanced Core Plus Bond U.S. ETF | 0.00 | |||||
IQ Short Duration Enhanced Core Bond U.S. ETF | 0.00 | |||||
IQ Merger Arbitrage ETF | 0.00 | |||||
IQ Global Resources ETF | 100.00 | |||||
IQ Global Agribusiness Small Cap ETF | 100.00 | |||||
IQ U.S. Real Estate Small Cap ETF | 0.89 | |||||
IQ S&P High Yield Low Volatility Bond ETF | 0.00 | |||||
IQ 500 International ETF | 83.75 | |||||
IQ 50 Percent Hedged FTSE International ETF | 72.92 | |||||
IQ 50 Percent Hedged FTSE Europe ETF | 82.62 | |||||
IQ 50 Percent Hedged FTSE Japan ETF | 91.91 | |||||
IQ Chaikin U.S. Small Cap ETF | 100.00 | |||||
IQ Chaikin U.S. Large Cap ETF | 100.00 |
IQ Hedge Multi-Strategy Tracker ETF | 6.24 | % | ||||
IQ Hedge Macro Tracker ETF | 3.74 | |||||
IQ Hedge Market Neutral Tracker ETF | 0.00 | |||||
IQ Hedge Long/Short Tracker ETF | 14.11 | |||||
IQ Hedge Event-Driven Tracker ETF | 7.71 | |||||
IQ Real Return ETF | 3.32 | |||||
IQ Leaders GTAA Tracker ETF | 14.45 | |||||
IQ Enhanced Core Bond U.S. ETF | 0.00 | |||||
IQ Enhanced Core Plus Bond U.S. ETF | 0.00 | |||||
IQ Short Duration Enhanced Core Bond U.S. ETF | 0.00 | |||||
IQ Merger Arbitrage ETF | 0.00 | |||||
IQ Global Resources ETF | 36.59 | |||||
IQ Global Agribusiness Small Cap ETF | 16.38 | |||||
IQ U.S. Real Estate Small Cap ETF | 0.00 | |||||
IQ S&P High Yield Low Volatility Bond ETF | 0.00 | |||||
IQ 500 International 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 Chaikin U.S. Small Cap ETF | 100.00 | |||||
IQ Chaikin U.S. Large Cap ETF | 97.79 |
Supplemental Information(unaudited) (continued)
April 30, 2019
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 Real Return ETF | — | — | ||||||||
IQ Leaders GTAA Tracker ETF | — | — | ||||||||
IQ Enhanced Core Bond U.S. ETF | — | — | ||||||||
IQ Enhanced Core Plus Bond U.S. ETF | — | — | ||||||||
IQ Short Duration Enhanced Core Bond U.S. ETF | — | — | ||||||||
IQ Merger Arbitrage ETF | — | — | ||||||||
IQ Global Resources ETF | 0.0492 | 0.6740 | ||||||||
IQ Global Agribusiness Small Cap ETF | 0.0380 | 0.5038 | ||||||||
IQ U.S. Real Estate Small Cap ETF | — | — | ||||||||
IQ S&P High Yield Low Volatility Bond ETF | — | — | ||||||||
IQ 500 International ETF | 0.0325 | 0.3174 | ||||||||
IQ 50 Percent Hedged FTSE International ETF | 0.0770 | 0.9858 | ||||||||
IQ 50 Percent Hedged FTSE Europe ETF | 0.3422 | 3.2142 | ||||||||
IQ 50 Percent Hedged FTSE Japan ETF | 0.1847 | 1.4814 | ||||||||
IQ Chaikin U.S. Small Cap ETF | — | — | ||||||||
IQ Chaikin U.S. Large Cap ETF | — | — |
Board Review of Investment Advisory Agreement(unaudited)
April 30, 2019
1. | The nature, extent and quality of the facilities and services provided by the Advisor. The Independent Trustees reviewed the services that the Advisor would provide to PRHD. In connection with the investment advisory services to be provided to PRHD, the Independent Trustees noted the responsibilities that the Advisor would have as the PRHD’s investment adviser, including overall supervisory responsibility for the general |
Board Review of Investment Advisory Agreement(unaudited) (continued)
April 30, 2019
management and investment of PRHD’s securities portfolio ultimate responsibility, subject to oversight by the Board, for daily monitoring of tracking error and quarterly reporting to the Board, and the implementation of Board directives as they relate to PRHD. |
The Board reviewed the Advisor’s experience, resources, and strengths in managing other mutual funds and ETFs. The Independent Trustees considered the Advisor’s performance in managing the existing Funds of the Trust. Based on their consideration and review of the foregoing information, the Independent Trustees determined that PRHD would be likely to benefit from the nature, quality and extent of these services, as well as the Advisor’s ability to render such services based on its experience, operations and resources. The Board noted the responsibilities that the Advisor would have as PRHD’s investment adviser and do have as the existing Funds’ investment adviser, including overall supervisory responsibility for the general management and investment of PRHD’s securities portfolio, monitoring PRHD’s compliance with regulatory requirements and fund objectives and policies, daily monitoring of the portfolio, overseeing Fund service providers, obtaining licenses from S&P for use of the index, providing officers for PRHD, ongoing reporting to the Board and the implementation of Board directives as they relate to PRHD. The Board considered the services rendered in respect of the existing Funds in assessing services expected to be provided to PRHD. |
The Board reviewed the Advisor’s experience, resources and strengths in managing other ETFs, including the Advisor’s management of the existing Funds and the funds of the IndexIQ Active ETF Trust. 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”) that 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 the discussion of personnel matters presented at the March 2018 meeting of the Board. In addition, the Board considered the ongoing expansion of compliance and distribution/sales personnel that support the Funds and the funds of the IndexIQ Active ETF Trust. |
2. | Comparison of services provided and fees charged by the Advisor and other investment advisers to similar clients, and the cost of the services provided and profits realized by the Advisor from its relationship with PRHD. The Independent Trustees then compared both the services to be rendered and the proposed fees to be paid pursuant to the Advisory Agreement with the Advisor and to contracts of other investment advisers with respect to similar mutual funds and ETFs, as well as the Trust’s operational ETFs. In particular, the Independent Trustees compared PRHD’s proposed advisory fees and projected expense ratios for its first year of operations to other ETFs in PRHD’s peer group. The Independent Trustees also considered that the Advisor had proposed an expense limitation agreement to limit the total operating expenses of PRHD for a period of at least one year. |
After comparing PRHD’s proposed fees with those of other funds in PRHD’s peer group, and in light of the nature, quality and extent of services proposed to be provided by the Advisor, and the costs expected to be incurred by the Advisor in rendering those services, the Independent Trustees concluded that the fees proposed to be paid to the Advisor with respect to PRHD were fair and reasonable. |
3. | The Advisor’s profitability and the extent to which economies of scale would be realized as PRHD grows and whether fee levels would reflect such economies of scale. The Independent Trustees next considered potential economies of scale and the anticipated costs and projected profitability of the Advisor in connection with its serving as investment adviser to PRHD, including operational costs. Due to the fact that PRHD had no assets at the time, the Independent Trustees made no determination with respect to economies of scale or the impact of PRHD on the Advisor’s profitability. |
4. | Investment performance of the Funds. Because PRHD has not commenced operations, the Independent Trustees could not consider the investment performance of PRHD, but did take into account the experience of the Advisor, the investment performance of other strategies managed by Advisor and peer performance. |
Board Review of Investment Advisory Agreement(unaudited) (continued)
April 30, 2019
Board the approval of the amendment to the Advisory Agreement. As a result, all of the Board members, including the Independent Trustees, determined that the Advisory Agreement was in the best interests of PRHD. The Board and the Independent Trustees, voting separately, approved the amendment to the Advisory Agreement to apply such agreement to PRHD.
Board Review of Investment Advisory Agreement(unaudited) (continued)
April 30, 2019
1. | The nature, extent and quality of the facilities and services provided by the Advisor. The Board reviewed the services that the Advisor provides to the existing Funds, noting that they had continually reviewed and overseen such services, including at the Trust’s general section 15(c) meeting in March 2018. The Board noted the responsibilities that the Advisor would have as the New Funds’ investment adviser and do have as the existing Funds’ investment adviser, including overall supervisory responsibility for the general management and investment of the securities portfolio of each of the New Funds, and monitoring each New Fund’s compliance with regulatory requirements and fund objectives and policies, daily monitoring of the portfolio, overseeing Fund service providers, obtaining licenses for use of the index, providing officers for the New Funds, ongoing reporting to the Board, and the implementation of Board directives as they relate to the New Funds. The Board considered the services rendered in respect of the existing Funds in assessing services expected to be provided to for the New Funds. |
The Board considered similarities between SDAG and the IQ Enhanced Core Bond U.S. ETF (“AGGE”) and IQ Enhanced Core Plus Bond U.S. ETF (“AGGP”), each an existing Fund managed by the Advisor. In addition, they considered the structure of IQUS and IQIN and the history of the underlying indexes. |
The Board reviewed the Advisor’s experience, resources and strengths in managing other ETFs, including the Advisor’s management of the existing Funds and the funds of the IndexIQ Active ETF Trust. The Board also noted and discussed with the Advisor the resources and additional support and personnel from its parent NYLIM, that 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 New Funds. |
Based on their consideration and review of the foregoing information, the Board concluded that each of the New Funds was likely to benefit from the nature, quality, and extent of these services, as well as the Advisor’s ability to render such services based on its personnel, experience, operations and resources. |
2. | Comparison of services provided and fees charged by the Advisor and other investment advisers to similar clients, and the cost of the services provided and profits realized by the Advisor from its relationship with the New Funds. The Board then compared both the services proposed to be rendered and the fees proposed to be paid with respect to the New Funds pursuant to the Advisory Agreement to contracts of other registered investment advisers providing services to similar ETFs. |
In particular, the Board compared each proposed New Fund’s advisory fee and expense ratio to other investment companies considered to be in its respective peer group. The Advisor presented information on how the peer group was selected for SDAG, and noted how the Fund differed in structure and strategy from its peers. The Board considered the unique characteristics of SDAG relative to its peer group, including that SDAG is a fund of funds. In addition, the Advisor reviewed the peer groups for IQUS and IQIN, and each such Fund’s respective position relative to its peers. |
The Board considered a presentation on the rationale for the increase in management fees applicable to IQUS and IQIN, as against the amount originally approved at the March 2018 meeting. In particular, the Board noted that the new fee levels remained below the median net expense ratios of the U.S. large-cap and foreign large-cap peers. |
The Board considered that the Advisor had proposed an expense limitation agreement whereby the Advisor would reimburse expenses and/or waives fees to limit the impact above set thresholds of certain expenses on shareholders. The Board noted that such expense limitation agreements were reflected in the peer group analysis provided by the Advisor, which showed each new Fund’s position both with and without the expense limitation and with acquired fund fees and expenses. |
Board Review of Investment Advisory Agreement(unaudited) (continued)
April 30, 2019
After comparing the fees applicable to each New Fund with those of other investment companies in its respective peer group, and in light of the distinctions between SDAG and its peers, the nature, quality and extent of services proposed to be provided by the Advisor and the costs incurred by the Advisor in rendering those services, the Board concluded that the level of fees proposed to be paid to the Advisor is fair and reasonable in respect of each New Fund. |
3. | The Advisor’s profitability and the extent to which economies of scale would be realized as each New Fund grows 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 the New Funds and the existing Funds, including operational costs. The Board also discussed additional resources that have been made available to the Advisor by its parent entity, NYLIM. The Board also noted the proposed expense limitation agreement and its impacts on costs to shareholders of each New Fund. The Board considered that the New Funds had not yet commenced operations and therefore no direct historical profitability data was available for consideration. |
Due to the fact that each New Fund had no assets and was not yet operational, the Independent Trustees made no determination with respect to economies of scale or the impact of the New Funds on the Advisor’s profitability. |
4. | Investment performance of the Funds. Because the New Funds have not commenced operations, the Independent Trustees could not consider the investment performance of the New Funds, but did take into account the experience of the Advisor, the investment performance of other strategies managed by Advisor and peer performance. With respect to SDAG, the Board considered, in particular, the Advisor’s provision of services to AGGE and AGGP. |
Board Review of Investment Advisory Agreement(unaudited) (continued)
April 30, 2019
of the Advisor and MacKay; (3) the expense levels of each Fund; (4) the investment performance of the Funds; (5) the costs of the services to be provided and profits to be realized by the Advisor and its affiliates from the relationship with the Trust, including expense limitation agreements and fee waiver agreements between the Advisor and certain Funds; (6) the extent to which economies of scale would be realized as the Funds grow; (7) any “fall-out” benefits derived or to be derived by the Advisor or MacKay from its relationship with the Trust; and (8) potential conflicts of interest. The Board considered that the Funds were passively managed ETFs and that several of the Funds were designed to track indexes created by an affiliate of the Advisor.
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 have as the Funds’ investment adviser and sub-advisor, 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 Funds that were not yet operational, the Board considered the services rendered in respect of the existing Funds in assessing services expected to be provided to non-operational Funds. |
The Board reviewed the Advisor’s and MacKay’s experience, resources and strengths in managing mutual funds and ETFs, including the Advisor’s management of the Funds and the funds of the IndexIQ Active ETF Trust. The Board also considered the experience of MacKay’s team in managing strategies and asset classes similar to HYLV 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, NYLIM, that 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. The Board also considered a presentation on marketing and distribution strategy that described the services engaged by the Advisor in seeking to market and grow assets in the Funds and a discussion regarding the relocation of the Advisor’s team to NYLIM’s New York City offices. |
Based on their consideration and review of the foregoing information, the Board concluded that each Fund 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 |
Board Review of Investment Advisory Agreement(unaudited) (continued)
April 30, 2019
fees paid with respect to the Funds pursuant to the Advisory Agreement and Sub-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 Advisor explained that peer groups were selected using objective methodology by a NYLIM team. |
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 was presented with a dashboard view describing Fund performance and fees, with information relative to peer groups. 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. |
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. The Board noted that such expense limitation and fee waiver agreements were reflected, where applicable, in the peer group analysis provided by the Advisor. |
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 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, including the marketing and distribution presentation. The Board reviewed the net asset levels of the Funds and the impact of both high and low asset levels on such Funds. The Advisor presented to the Board information on the operating profits on a year over year basis. |
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 certain Funds had not yet commenced operations, and therefore no direct historical profitability data was available for consideration for such Funds. |
Board Review of Investment Advisory Agreement(unaudited) (continued)
April 30, 2019
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 certain 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)
Name and Year of Birth(1) | Position(s) Held with Trust | Term of Office and Length of Time Served(2) | Principal Occupation(s) During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee(3) | Other Directorships Held by Trustee During Past 5 Years | |||||
Reena Aggarwal, 1957 | Trustee Chair | Since August 2008 January 2018 | 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). | 23 | Chair of Board, IndexIQ Active ETF Trust (2018 to present); Trustee, IndexIQ Active ETF Trust (2008 to present); Trustee, IndexIQ Trust (2008 to 2018); 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). | 23 | Trustee, IndexIQ Active ETF Trust (2015 to present); Trustee, IndexIQ Trust (2015 to 2018); The New Ireland Fund, Inc. (closed-end fund) (2015 to present). |
Board of Trustees and Officers (unaudited) (continued)
Name and Year of Birth(1) | Position(s) Held with Trust | Term of Office and Length of Time Served(2) | Principal Occupation(s) During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee(3) | Other Directorships Held by Trustee During Past 5 Years | |||||
Paul D. Schaeffer, 1951 | Trustee | Since April 2015 | President, ASP (dba Aspiring Solution Partners) (financial services consulting) (2013 to present); Executive Advisor, Aquiline Capital Partners LLC (private equity investment) (2014 to present). | 23 | Trustee, Active IndexIQ ETF Trust (2015 to present); Management Board Member, RIA in a Box LLC (financial services consulting) (2018 to present); Trustee, IndexIQ Trust (2015 to 2018); Context Capital Funds (mutual fund trust) (2 Portfolios) (2014 to 2018); Management Board Member, Altegris Investments, LLC (registered broker-dealer) (2016 to 2018); Management Board Member, AssetMark Inc. (financial services consulting) (2016 to 2017); PopTech! (conference operator) (2012 to 2016). |
Kirk C. Lehneis, 1974(4) | Trustee, President and Principal Executive Officer | Since January 2018 | Chief Operating Officer and Senior Managing Director (2016 to present), New York Life Investment Management LLC; Chairman of the Board (2017 to present), NYLIFE Distributors LLC; Chairman of the Board, NYLIM Service Company LLC (2017 to present); President, MainStay MacKay DefinedTerm Municipal Opportunities Fund, The MainStay Funds, MainStay Funds Trust, and MainStay VP Funds Trust (2017 to present); Chief Executive Officer, IndexIQ Advisors LLC (2018 to present); Trustee, President and Principal Executive Officer, IndexIQ Active ETF Trust (2018 to present). | 23 | None. |
Board of Trustees and Officers (unaudited) (continued)
Name and Year of Birth(1) | Position(s) Held with Trust | Term of Office and Length of Time Served(2) | Principal Occupation(s) During Past 5 Years | |||
Jonathan Zimmerman, 1982 | Executive Vice President | Since April 2018 | Chief Operating Officer, IndexIQ Advisors LLC (2018 to present); Managing Director, New York Life Investments LLC (2018 to present); Director, New York Life Investment Management LLC (2015 to 2018); Vice President, Morgan Stanley (2007 to 2015). | |||
Adefolahan Oyefeso, 1974 | Treasurer, Principal Financial Officer and Principal Accounting Officer | Since April 2018 | Vice President of Operations & Finance, IndexIQ Advisors LLC (2015 to present); Director of the Fund Administration Client Service Department at The Bank of New York Mellon (2007 to 2015). | |||
Matthew V. Curtin, 1982 | Secretary and Chief Legal Officer | Since June 2015 | Chief Legal Officer, IndexIQ Advisors LLC (2015 to present), Chief Compliance Officer, IndexIQ Advisors LLC, IndexIQ ETF Trust and IndexIQ Active ETF Trust (2015 to 2017); Associate General Counsel, New York Life Insurance Company (2015 to present); Associate, Dechert LLP (2007 to 2015). | |||
Kevin M. Bopp, 1969 | Chief Compliance Officer | Since January 2017 | Chief Compliance Officer, IndexIQ Advisors LLC and IndexIQ ETF Trust (2017 to present); Chief Compliance Officer, New York Life Investment Management LLC, The MainStay Funds, MainStay Funds Trust, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund (2014 to present); Director and Associate General Counsel and Assistant Secretary, The MainStay Funds, MainStay Funds Trust, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund (2011 to 2014) and Vice President and Assistant General Counsel, New York Life Investment Management LLC (2010 to 2011). |
(1) | The address of each Trustee or officer is c/o IndexIQ, 51 Madison Avenue, New York, New York 10010. |
(2) | Trustees and Officers serve until their successors are duly elected and qualified. |
(3) | The Fund is 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 and the funds of IndexIQ Active ETF Trust. |
(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. |
IndexIQ ETF Trust | |
ANNUAL REPORT | APRIL 30, 2019 | |
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 ETF | |
IQ Enhanced Core Bond U.S. ETF | |
IQ Enhanced Core Plus Bond U.S. ETF | |
IQ Short Duration Enhanced Core Bond U.S. ETF | |
IQ Merger Arbitrage ETF | |
IQ Global Resources ETF | |
IQ Global Agribusiness Small Cap ETF | |
IQ U.S. Real Estate Small Cap ETF | |
IQ S&P High Yield Low Volatility Bond ETF | |
IQ 500 International ETF | |
IQ 50 Percent Hedged FTSE International ETF | |
IQ 50 Percent Hedged FTSE Europe ETF | |
IQ 50 Percent Hedged FTSE Japan ETF | |
IQ Chaikin U.S. Small Cap ETF | |
IQ Chaikin U.S. Large Cap ETF |
Investment Advisor | |
IndexIQ Advisors LLC | |
51 Madison Avenue | |
New York, NY 10010 | |
Distributor | |
ALPS Distributors, Inc. | |
1290 Broadway, Suite 1100 | |
Denver, CO 80203 | |
Custodian/Fund Administrator/Transfer Agent | |
The Bank of New York Mellon | |
240 Greenwich Street | |
New York, NY 10286 | |
Legal Counsel | |
Chapman and Cutler LLP | |
1270 Avenue of the Americas | |
New York, NY 10020 | |
Independent Registered Public Accounting Firm | |
PricewaterhouseCoopers LLP | |
300 Madison Avenue | |
New York, NY 10017 | |
1740844 | ME11-06/19 |
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, each 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.
[Please verify, please provide further information if this statement is not correct.]
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 $429,947 for 2019 and $392,409 for 2018. |
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 2019 and $0 for 2018. |
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 2019 and $0 for 2018. |
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 2019 and $0 for 2018. |
(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 each of Items 4(b) through (d), no amount was approved by the Audit Committee pursuant to paragraph (c)(7)(A) of Rule 2-01 of Regulation S-X. |
(f) | The percentage of hours expended on the principal accountant's engagement to audit the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant's full-time, permanent employees was less than fifty percent. |
(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 $8,100,000 for the fiscal year ended April 30, 2019, and (ii) $6,800,000 for the fiscal year ended April 30, 2018. |
(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, 2019 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 8, 2019 |
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 8, 2019 |
By (Signature and Title)* | /s/ Adefolahan O. Oyefeso |
Adefolahan O. Oyefeso | |
(Principal Financial Officer) | |
Date | July 8, 2019 |
* Print the name and title of each signing officer under his or her signature.