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: October 31, 2021
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.
| (a) | The Report to Shareholders is attached herewith. |
IndexIQ ETF Trust
Semi-Annual Report
October 31, 2021
| | IQ Hedge Multi-Strategy Tracker ETF (QAI) | | | IQ 50 Percent Hedged FTSE International ETF (HFXI) | |
| | IQ Hedge Macro Tracker ETF (MCRO) | | | IQ Chaikin U.S. Large Cap ETF (CLRG) | |
| | IQ Hedge Market Neutral Tracker ETF (QMN) | | | IQ Chaikin U.S. Small Cap ETF (CSML) | |
| | IQ Hedge Long/Short Tracker ETF (QLS) | | | IQ 500 International ETF (IQIN) | |
| | IQ Hedge Event-Driven Tracker ETF (QED) | | | IQ Candriam ESG U.S. Equity ETF (IQSU) | |
| | IQ Real Return ETF (CPI) | | | IQ Candriam ESG International Equity ETF (IQSI) | |
| | IQ S&P High Yield Low Volatility Bond ETF (HYLV) | | | IQ Healthy Hearts ETF (HART) | |
| | IQ Merger Arbitrage ETF (MNA) | | | IQ Engender Equality ETF (EQUL) | |
| | IQ Global Resources ETF (GRES) | | | IQ Cleaner Transport ETF (CLNR) | |
| | IQ U.S. Real Estate Small Cap ETF (ROOF) | | | IQ Clean Oceans ETF (OCEN) | |
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Funds’ shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from your financial intermediary, such as a broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. If you hold accounts through a financial intermediary, you may contact your financial intermediary to enroll in electronic delivery. Please note that not all financial intermediaries may offer this service.
You may elect to receive all future reports in paper free of charge. If you hold accounts through a financial intermediary, you can contact your financial intermediary to request that you continue to receive paper copies of your shareholder reports. Your election to receive reports in paper will apply to all funds held with your financial intermediary.
Not FDIC Insured | May Lose Value | No Bank Guarantee
The investment return and value of each of the Funds’ shares will fluctuate so that an investor’s shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Consider the Funds’ investment objectives, risks, charges and expenses carefully before investing. The prospectus and the statement of additional information include this and other relevant information about the Funds and are available by visiting newyorklifeinvestments.com or by calling 1-888-474-7725. Read the prospectus carefully before investing.
Each of the Funds’ performance that is current to the most recent month-end is available by visiting newyorklifeinvestments.com or by calling 1-888-474-7725.
Availability of Proxy Voting Policies and Proxy Voting Records
You may obtain a description of the IndexIQ ETF Trust proxy voting policies, procedures and information regarding how each Fund voted proxies relating to portfolio securities during the 12-month period ending June 30 (available by August 31) without charge, upon request, by calling 1-888-474-7725 or by accessing the SEC’s website at sec.gov.
Availability of Quarterly Schedule of Investments
The Funds file their complete schedules of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-PORT. The Funds’ Forms N-PORT are available on the Commission’s website at sec.gov. Additionally, the Funds' makes its portfolio holdings for the first and third quarters of each fiscal year available at newyorklifeinvestments.com\documents. Each Funds’ premium/discount information is available, free of charge, on the Funds’ website newyorklifeinvestments.com or by calling 1-888-474-7725.
Electronic Delivery
Receive email notifications when your most recent shareholder communications are available for review. Access prospectuses, annual reports and semi-annual reports online.
To enroll:
Visit https://www.fundreports.com
If you have questions about IndexIQ e-Delivery services, contact a representative at 1-888-474-7725.
IndexIQ® and IQ® are registered service marks of New York Life Insurance Company.
"New York Life Investments" is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company. IndexIQ® is the indirect wholly owned subsidiary of New York Life Investment Management Holdings LLC and serves as the advisor to the IndexIQ ETFs. ALPS Distributors, Inc. (ALPS) is the principal underwriter of the ETFs, and NYLIFE Distributors LLC is a distributor of the ETFs. NYLIFE Distributors LLC is located at 30 Hudson Street, Jersey City, NJ 07302. ALPS Distributors, Inc. is not affiliated with NYLIFE Distributors LLC. NYLIFE Distributors LLC is a Member FINRA/SIPC.
Shareholder Letter (unaudited)
Message from the President
The equity and fixed-income markets continued to benefit from the re-opening of the economy during the six-month reporting period ended October 31, 2021, but inflation and other concerns agitated the markets at times, including uncertainty about the Federal Reserve’s (“Fed”) policy, the re-emergence of COVID-19 and political standoffs in Washington. While stock markets posted solid returns, gains in the bond market were marginal.
Mindful of the Fed’s more tolerant stance on inflation and of the large fiscal spending response to the pandemic, investors grew increasingly concerned about inflation. The Delta variant of COVID-19, supply chain bottlenecks and labor shortages brought the pace of the economic recovery into question at times, but pricing pressures predominated during the reporting period.
Energy prices continued to rebound from a low point at the height of the pandemic in 2020, and shortages in various sectors, including semiconductors and construction supplies, resulted in rising prices in some industries. An anticipated $1+ trillion infrastructure spending bill added to inflation concerns.
Already over a 4% annualized rate at the start of the reporting period, the Consumer Price Index (“CPI”) rose above 5% and remained there through September. In October, the CPI hit a 6.2% annualized rate, a 30-year high.
In September, the Fed increased its forecast for inflation in 2021 from 3.4% to 4.2% and its forecast for 2022 from 2.1% to 2.2%. After the reporting period, Fed officials announced that a reduction in the Fed’s bond purchasing program would begin in November 2021.
In fixed-income markets, issues of longer-term Treasury bonds recovered from the sell-off that occurred earlier in the year. Investment grade corporate bonds rebounded early as the economic outlook remained positive, but persistent pricing pressures and uncertainty about when the Fed would reduce its bond-purchasing program took a toll. High-yield bonds remained steadier through the reporting period, supported by more attractive yields and the outlook for economic growth.
In the municipal market, healthy fundamentals, $350 billion in financial support from the federal government, and the prospect of an increase in federal income tax rates on corporations and higher-earning households provided some support. But intermittent fears about the effect of the Delta variant of COVID-19, inflation concerns and an anticipated rise in Treasury yields weighed on the market.
In equity markets, the shift from growth stocks to value stocks that occurred earlier in 2021 reversed as concerns about the pace of the economic recovery arose with the emergence of the Delta variant. Growth stocks easily outperformed value stocks during the reporting period.
The performance of individual sectors within the S&P 500® Index, a widely regarded benchmark of market performance, varied widely, with the energy, information technology and consumer discretionary sectors leading and the utilities, industrials and communication services sectors lagging. Foreign developed markets posted strong returns but underperformed the U.S. market somewhat. Emerging markets declined as a lagging economic and pandemic recovery continued to hinder performance.
In light of higher inflation and rising interest rates, we at New York Life Investments are focused on providing investors with the products and insights they may need to meet the challenge of a changing market environment.
The following semiannual report contains more detailed information about the specific markets, securities and decisions that affected your IndexIQ ETF during the six months ended October 31, 2021.
Sincerely,
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.
Fund Expenses (unaudited)
As a shareholder of a fund, you incur two types of costs: (1) transaction costs on purchases and sales and (2) ongoing costs, including Advisory fees and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other funds. Shareholders may pay brokerage commissions on their purchase and sale of the Fund, which are not reflected in the example.
The examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period as indicated below.
Actual Expenses
The first line of the table below provides information about actual account values and actual expenses. You may use the information together with the amount you invested, in a particular fund, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid During the Period 05/01/2021 to 10/31/2021” to estimate the expenses you paid on your account during this period. Each Fund will indirectly bear its pro rata share of the expenses incurred by the underlying funds in which each Fund invests. These expenses are not included in the table.
Hypothetical Example for Comparison Purposes
The second line of the table below also provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed annual rate of return of 5% before expenses, which are not the Funds’ actual returns. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in a fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds. The Funds will indirectly bear their pro rata share of the expenses incurred by the underlying fund investments in which the Funds invest. These expenses are not included in the table.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs. Therefore, the hypothetical example is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
| | | | Beginning
Account
Value
05/01/2021 | | | Ending
Account
Value
10/31/2021 | | | Annualized
Expense
Ratios for
the Period
05/01/2021
to 10/31/2021 | | | Expenses
Paid During
the Period
05/01/2021
to 10/31/20211 | |
| IQ Hedge Multi-Strategy Tracker ETF | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 1,001.70 | | | | | | 0.54% | | | | | $ | 2.72 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,022.49 | | | | | | 0.54% | | | | | $ | 2.74 | | |
| IQ Hedge Macro Tracker ETF | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 990.80 | | | | | | 0.41% | | | | | $ | 2.06 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,023.14 | | | | | | 0.41% | | | | | $ | 2.09 | | |
| IQ Hedge Market Neutral Tracker ETF | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 993.60 | | | | | | 0.41% | | | | | $ | 2.05 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,023.14 | | | | | | 0.41% | | | | | $ | 2.09 | | |
| IQ Hedge Long/Short Tracker ETF | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 1,052.70 | | | | | | 0.41% | | | | | $ | 2.11 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,023.15 | | | | | | 0.41% | | | | | $ | 2.08 | | |
| IQ Hedge Event-Driven Tracker ETF | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 1,011.30 | | | | | | 0.41% | | | | | $ | 2.06 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,023.15 | | | | | | 0.41% | | | | | $ | 2.07 | | |
Fund Expenses (unaudited) (continued)
| | | | Beginning
Account
Value
05/01/2021 | | | Ending
Account
Value
10/31/2021 | | | Annualized
Expense
Ratios for
the Period
05/01/2021
to 10/31/2021 | | | Expenses
Paid During
the Period
05/01/2021
to 10/31/20211 | |
| IQ Real Return ETF | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 1,012.50 | | | | | | 0.21% | | | | | $ | 1.06 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,024.15 | | | | | | 0.21% | | | | | $ | 1.06 | | |
| IQ S&P High Yield Low Volatility Bond ETF | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 1,017.50 | | | | | | 0.40% | | | | | $ | 2.03 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,023.19 | | | | | | 0.40% | | | | | $ | 2.04 | | |
| IQ Merger Arbitrage ETF | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 977.90 | | | | | | 0.76% | | | | | $ | 3.78 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,021.38 | | | | | | 0.76% | | | | | $ | 3.87 | | |
| IQ Global Resources ETF | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 1,050.60 | | | | | | 0.59% | | | | | $ | 3.05 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,022.23 | | | | | | 0.59% | | | | | $ | 3.01 | | |
| IQ U.S. Real Estate Small Cap ETF | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 1,062.30 | | | | | | 0.70% | | | | | $ | 3.63 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,021.68 | | | | | | 0.70% | | | | | $ | 3.56 | | |
| IQ 50 Percent Hedged FTSE International ETF | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 1,045.90 | | | | | | 0.20% | | | | | $ | 1.03 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,024.20 | | | | | | 0.20% | | | | | $ | 1.02 | | |
| IQ Chaikin U.S. Large Cap ETF | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 1,080.60 | | | | | | 0.25% | | | | | $ | 1.31 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,023.95 | | | | | | 0.25% | | | | | $ | 1.28 | | |
| IQ Chaikin U.S. Small Cap ETF | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 1,041.10 | | | | | | 0.35% | | | | | $ | 1.80 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,023.44 | | | | | | 0.35% | | | | | $ | 1.79 | | |
| IQ 500 International ETF | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 1,033.20 | | | | | | 0.25% | | | | | $ | 1.28 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,023.95 | | | | | | 0.25% | | | | | $ | 1.28 | | |
| IQ Candriam ESG U.S. Equity ETF | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 1,134.30 | | | | | | 0.09% | | | | | $ | 0.48 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,024.75 | | | | | | 0.09% | | | | | $ | 0.46 | | |
| IQ Candriam ESG International Equity ETF | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 1,050.60 | | | | | | 0.15% | | | | | $ | 0.78 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,024.45 | | | | | | 0.15% | | | | | $ | 0.77 | | |
| IQ Healthy Hearts ETF | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 1,097.90 | | | | | | 0.45% | | | | | $ | 2.38 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,022.94 | | | | | | 0.45% | | | | | $ | 2.30 | | |
| IQ Engender Equality ETF* | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 1,005.20 | | | | | | 0.45% | | | | | $ | 0.14 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,022.94 | | | | | | 0.45% | | | | | $ | 2.29 | | |
| IQ Cleaner Transport ETF* | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 1,033.00 | | | | | | 0.45% | | | | | $ | 0.14 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,022.94 | | | | | | 0.45% | | | | | $ | 2.29 | | |
Fund Expenses (unaudited) (continued)
| | | | Beginning
Account
Value
05/01/2021 | | | Ending
Account
Value
10/31/2021 | | | Annualized
Expense
Ratios for
the Period
05/01/2021
to 10/31/2021 | | | Expenses
Paid During
the Period
05/01/2021
to 10/31/20211 | |
| IQ Clean Oceans ETF* | | | | | |
| Actual | | | | $ | 1,000.00 | | | | | $ | 1,018.20 | | | | | | 0.45% | | | | | $ | 0.14 | | |
| Hypothetical (assuming a 5% return before expenses) | | | | $ | 1,000.00 | | | | | $ | 1,022.94 | | | | | | 0.45% | | | | | $ | 2.29 | | |
*
Fund commenced operation on October 21, 2021. Expenses are calculated using the Fund’s annualized expense ratio, multiplied by the ending value for the period, multiplied by 11/365 (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 184/365.
October 31, 2021 (unaudited)
IQ Hedge Multi-Strategy Tracker ETF
Net Assets ($ mil): $819.4
| Asset Class | | | % of
Net Assets | |
| Investment Grade Corporate Bond Funds | | | | | 18.6% | | |
| U.S. Ultra Short Term Bond Funds | | | | | 13.4 | | |
| Money Market Funds | | | | | 10.6 | | |
| Bank Loan Funds | | | | | 10.6 | | |
| Convertible Bond Funds | | | | | 10.4 | | |
| U.S. Medium Term Treasury Bond Funds | | | | | 6.0 | | |
| Europe Equity Funds | | | | | 5.5 | | |
| Emerging Equity Funds | | | | | 3.2 | | |
| U.S. Dollar Fund | | | | | 2.8 | | |
| Gold Funds | | | | | 2.6 | | |
| BRIC Equity Funds | | | | | 2.6 | | |
| U.S. Small Cap Growth Funds | | | | | 2.4 | | |
| Floating Rate – Investment Grade Funds | | | | | 2.2 | | |
| International Small Cap Equity Funds | | | | | 2.1 | | |
| Emerging Markets Small Cap Equity Fund | | | | | 2.0 | | |
| Emerging Bonds – Local Currency Funds | | | | | 2.0 | | |
| Silver Funds | | | | | 2.0 | | |
| High Yield Corporate Bond Funds | | | | | 1.8 | | |
| International Bond Fund | | | | | 1.7 | | |
| Emerging Bonds – USD Funds | | | | | 1.7 | | |
| U.S. Large Cap Core Funds | | | | | 1.5 | | |
| U.S. Large Cap Growth Funds | | | | | 1.5 | | |
| U.S. Preferred Funds | | | | | 1.4 | | |
| Mortgage Backed Securities Funds | | | | | 0.6 | | |
| International Large Cap Growth Fund | | | | | 0.6 | | |
| International Equity Core Funds | | | | | 0.5 | | |
| Volatility Note | | | | | 0.2 | | |
| Municipal Bond Fund | | | | | 0.1 | | |
| Total Investments | | | | | 110.6 | | |
| Other Assets and Liabilites, Net | | | | | (10.6) | | |
| Total Net Assets | | | | | 100.0% | | |
*
Each Fund’s portfolio is subject to change.
Abbreviation
BRIC — Brazil, Russia, India, China
IQ Hedge Macro Tracker ETF
Net Assets ($ mil): $4.2
| Asset Class | | | % of
Net Assets | |
| U.S. Ultra Short Term Bond Funds | | | | | 26.3% | | |
| Convertible Bond Funds | | | | | 8.3 | | |
| Emerging Equity Funds | | | | | 8.0 | | |
| BRIC Equity Funds | | | | | 7.2 | | |
| Europe Equity Funds | | | | | 7.0 | | |
| Investment Grade Corporate Bond Funds | | | | | 6.6 | | |
| U.S. Medium Term Treasury Bond Funds | | | | | 6.6 | | |
| Money Market Funds | | | | | 6.3 | | |
| Floating Rate – Investment Grade Funds | | | | | 5.6 | | |
| Emerging Bonds – Local Currency Funds | | | | | 5.6 | | |
| Gold Funds | | | | | 3.4 | | |
| High Yield Corporate Bond Funds | | | | | 3.2 | | |
| Emerging Small Cap Equity Fund | | | | | 2.7 | | |
| Emerging Bonds – USD Funds | | | | | 2.7 | | |
| U.S. Dollar Fund | | | | | 2.7 | | |
| Silver Funds | | | | | 2.5 | | |
| U.S. Large Cap Growth Funds | | | | | 1.0 | | |
| U.S. Large Cap Core Funds | | | | | 0.5 | | |
| Total Investments | | | | | 106.2 | | |
| Other Assets and Liabilites, Net | | | | | (6.2) | | |
| Total Net Assets | | | | | 100.0% | | |
See notes to financial statements.
Portfolio Summaries* (continued)
October 31, 2021 (unaudited)
IQ Hedge Market Neutral Tracker ETF
Net Assets ($ mil): $17.6
| Asset Class | | | % of
Net Assets | |
| U.S. Ultra Short Term Bond Funds | | | | | 38.2% | | |
| Bank Loan Funds | | | | | 19.6 | | |
| International Bond Fund | | | | | 10.5 | | |
| U.S. Medium Term Treasury Bond Funds | | | | | 8.3 | | |
| Mortgage Backed Securities Funds | | | | | 6.2 | | |
| International Small Cap Equity Funds | | | | | 5.8 | | |
| Money Market Funds | | | | | 4.5 | | |
| Investment Grade Corporate Bond Funds | | | | | 3.5 | | |
| Floating Rate – Investment Grade Funds | | | | | 2.1 | | |
| High Yield Corporate Bond Funds | | | | | 2.0 | | |
| Municipal Bond Fund | | | | | 1.5 | | |
| Emerging Equity Funds | | | | | 1.2 | | |
| Convertible Bond Funds | | | | | 0.7 | | |
| Emerging Bonds – Local Currency Funds | | | | | 0.3 | | |
| U.S. Momentum Fund | | | | | 0.1 | | |
| Total Investments | | | | | 104.5 | | |
| Other Assets and Liabilites, Net | | | | | (4.5) | | |
| Total Net Assets | | | | | 100.0% | | |
IQ Hedge Long/Short Tracker ETF
Net Assets ($ mil): $18.1
| Asset Class | | | % of
Net Assets | |
| Investment Grade Corporate Bond Funds | | | | | 21.5% | | |
| U.S. Large Cap Core Funds | | | | | 18.4 | | |
| International Small Cap Equity Funds | | | | | 17.8 | | |
| Money Market Funds | | | | | 15.7 | | |
| U.S. Large Cap Growth Funds | | | | | 11.3 | | |
| International Large Cap Growth Fund | | | | | 9.0 | | |
| Bank Loan Funds | | | | | 8.6 | | |
| International Equity Core Funds | | | | | 8.4 | | |
| U.S. REITS Funds | | | | | 4.1 | | |
| Volatility Note | | | | | 1.0 | | |
| U.S. Ultra Short Term Bond Funds | | | | | 0.2 | | |
| Total Investments | | | | | 116.0 | | |
| Other Assets and Liabilites, Net | | | | | (16.0) | | |
| Total Net Assets | | | | | 100.0% | | |
*
Each Fund’s portfolio is subject to change.
IQ Hedge Event-Driven Tracker ETF
Net Assets ($ mil): $19.2
| Asset Class | | | % of
Net Assets | |
| Investment Grade Corporate Bond Funds | | | | | 39.6% | | |
| Bank Loan Funds | | | | | 24.2 | | |
| Convertible Bond Funds | | | | | 22.9 | | |
| U.S. Small Cap Growth Funds | | | | | 8.3 | | |
| Money Market Funds | | | | | 8.0 | | |
| U.S. Preferred Funds | | | | | 4.8 | | |
| Total Investments | | | | | 107.8 | | |
| Other Assets and Liabilites, Net | | | | | (7.8) | | |
| Total Net Assets | | | | | 100.0% | | |
IQ Real Return ETF
Net Assets ($ mil): $55.3
| Asset Class | | | % of
Net Assets | |
| U.S. Ultra Short Term Bond Funds | | | | | 67.4% | | |
| Money Market Funds | | | | | 19.3 | | |
| U.S. Medium Term Treasury Bond Funds | | | | | 10.0 | | |
| U.S. Large Cap Core Funds | | | | | 7.8 | | |
| Japanese Yen Fund | | | | | 7.4 | | |
| Euro Fund | | | | | 2.7 | | |
| U.S. Long Term Treasury Bond Funds | | | | | 2.5 | | |
| Oil Fund | | | | | 2.2 | | |
| Total Investments | | | | | 119.3 | | |
| Other Assets and Liabilites, Net | | | | | (19.3) | | |
| Total Net Assets | | | | | 100.0% | | |
See notes to financial statements.
Portfolio Summaries* (continued)
October 31, 2021 (unaudited)
IQ S&P High Yield Low Volatility Bond ETF
Net Assets ($ mil): $37.4
| Industry | | | % of
Net Assets | |
| Consumer Discretionary | | | | | 14.4% | | |
| Health Care | | | | | 12.8 | | |
| Energy | | | | | 11.6 | | |
| Media | | | | | 9.7 | | |
| Industrials | | | | | 8.7 | | |
| Consumer Staples | | | | | 7.4 | | |
| Materials | | | | | 7.0 | | |
| Financials | | | | | 6.0 | | |
| Real Estate | | | | | 5.2 | | |
| Information Technology | | | | | 4.9 | | |
| Telecommunication Services | | | | | 4.6 | | |
| Utilities | | | | | 4.4 | | |
| Money Market Fund | | | | | 2.5 | | |
| Transportation | | | | | 1.3 | | |
| Total Investments | | | | | 100.5 | | |
| Other Assets and Liabilites, Net | | | | | (0.5) | | |
| Total Net Assets | | | | | 100.0% | | |
IQ Merger Arbitrage ETF
Net Assets ($ mil): $726.5
| Industry | | | % of
Net Assets | |
| Health Care | | | | | 23.9% | | |
| Information Technology | | | | | 17.8 | | |
| Industrials | | | | | 13.2 | | |
| Financials | | | | | 10.1 | | |
| Money Market Funds | | | | | 9.5 | | |
| Utilities | | | | | 6.6 | | |
| Materials | | | | | 5.5 | | |
| Consumer Discretionary | | | | | 5.2 | | |
| Real Estate | | | | | 4.3 | | |
| Communication Services | | | | | 1.5 | | |
| Energy | | | | | 1.3 | | |
| Consumer Staples | | | | | 1.2 | | |
| Total Investments | | | | | 100.1 | | |
| Other Assets and Liabilites, Net | | | | | (0.1) | | |
| Total Net Assets | | | | | 100.0% | | |
*
Each Fund’s portfolio is subject to change.
(a)
Less than 0.05%.
IQ Global Resources ETF
Net Assets ($ mil): $30.1
| Asset Class | | | % of
Net Assets | |
| Energy | | | | | 30.8% | | |
| Grains Food Fiber | | | | | 23.9 | | |
| Industrial Metals | | | | | 22.2 | | |
| Precious Metals | | | | | 7.8 | | |
| Livestock | | | | | 5.3 | | |
| Water | | | | | 5.0 | | |
| Timber | | | | | 4.8 | | |
| Money Market Funds | | | | | 1.4 | | |
| Coal | | | | | 0.0(a) | | |
| Total Investments | | | | | 101.2 | | |
| Other Assets and Liabilites, Net | | | | | (1.2) | | |
| Total Net Assets | | | | | 100.0% | | |
IQ U.S. Real Estate Small Cap ETF
Net Assets ($ mil): $49.3
| Asset Class | | | % of
Net Assets | |
| Specialized REITs | | | | | 18.8% | | |
| Retail REITs | | | | | 17.1 | | |
| Mortgage REITs | | | | | 15.8 | | |
| Diversified REITs | | | | | 15.5 | | |
| Office REITs | | | | | 13.6 | | |
| Hotel REITs | | | | | 12.5 | | |
| Residential REITs | | | | | 6.4 | | |
| Money Market Funds | | | | | 0.9 | | |
| Total Investments | | | | | 100.6 | | |
| Other Assets and Liabilites, Net | | | | | (0.6) | | |
| Total Net Assets | | | | | 100.0% | | |
See notes to financial statements.
Portfolio Summaries* (continued)
October 31, 2021 (unaudited)
IQ 50 Percent Hedged FTSE International ETF
Net Assets ($ mil): $322.6
| Asset Class | | | % of
Net Assets | |
| Financials | | | | | 16.9% | | |
| Industrials | | | | | 15.8 | | |
| Consumer Discretionary | | | | | 12.7 | | |
| Health Care | | | | | 11.8 | | |
| Information Technology | | | | | 11.2 | | |
| Consumer Staples | | | | | 9.3 | | |
| Materials | | | | | 7.7 | | |
| Communication Services | | | | | 4.8 | | |
| Energy | | | | | 3.3 | | |
| Real Estate | | | | | 3.2 | | |
| Utilities | | | | | 3.1 | | |
| Money Market Funds | | | | | 2.3 | | |
| Total Investments | | | | | 102.1 | | |
| Other Assets and Liabilites, Net | | | | | (2.1) | | |
| Total Net Assets | | | | | 100.0% | | |
IQ Chaikin U.S. Large Cap ETF
Net Assets ($ mil): $326.9
| Asset Class | | | % of
Net Assets | |
| Information Technology | | | | | 28.2% | | |
| Health Care | | | | | 16.5 | | |
| Financials | | | | | 13.6 | | |
| Industrials | | | | | 10.0 | | |
| Consumer Discretionary | | | | | 9.4 | | |
| Communication Services | | | | | 8.4 | | |
| Real Estate | | | | | 5.5 | | |
| Consumer Staples | | | | | 3.9 | | |
| Utilities | | | | | 1.6 | | |
| Materials | | | | | 1.6 | | |
| Energy | | | | | 1.3 | | |
| Money Market Funds | | | | | 0.9 | | |
| Total Investments | | | | | 100.9 | | |
| Other Assets and Liabilites, Net | | | | | (0.9) | | |
| Total Net Assets | | | | | 100.0% | | |
*
Each Fund’s portfolio is subject to change.
IQ Chaikin U.S. Small Cap ETF
Net Assets ($ mil): $224.8
| Asset Class | | | % of
Net Assets | |
| Financials | | | | | 27.5% | | |
| Industrials | | | | | 18.1 | | |
| Health Care | | | | | 12.8 | | |
| Information Technology | | | | | 12.5 | | |
| Consumer Discretionary | | | | | 9.3 | | |
| Materials | | | | | 4.5 | | |
| Energy | | | | | 4.2 | | |
| Communication Services | | | | | 3.2 | | |
| Consumer Staples | | | | | 3.2 | | |
| Real Estate | | | | | 2.5 | | |
| Utilities | | | | | 2.1 | | |
| Money Market Funds | | | | | 1.4 | | |
| Total Investments | | | | | 101.3 | | |
| Other Assets and Liabilites, Net | | | | | (1.3) | | |
| Total Net Assets | | | | | 100.0% | | |
IQ 500 International ETF
Net Assets ($ mil): $244.3
| Asset Class | | | % of
Net Assets | |
| Industrials | | | | | 21.4% | | |
| Consumer Discretionary | | | | | 12.9 | | |
| Consumer Staples | | | | | 11.7 | | |
| Financials | | | | | 10.0 | | |
| Materials | | | | | 9.7 | | |
| Communication Services | | | | | 7.9 | | |
| Energy | | | | | 7.5 | | |
| Health Care | | | | | 7.2 | | |
| Utilities | | | | | 6.3 | | |
| Information Technology | | | | | 5.1 | | |
| Money Market Fund | | | | | 2.7 | | |
| Total Investments | | | | | 102.4 | | |
| Other Assets and Liabilites, Net | | | | | (2.4) | | |
| Total Net Assets | | | | | 100.0% | | |
See notes to financial statements.
Portfolio Summaries* (continued)
October 31, 2021 (unaudited)
IQ Candriam ESG U.S. Equity ETF
Net Assets ($ mil): $481.2
| Asset Class | | | % of
Net Assets | |
| Information Technology | | | | | 36.9% | | |
| Health Care | | | | | 14.2 | | |
| Communication Services | | | | | 10.2 | | |
| Consumer Discretionary | | | | | 10.1 | | |
| Financials | | | | | 8.7 | | |
| Industrials | | | | | 6.4 | | |
| Consumer Staples | | | | | 5.2 | | |
| Real Estate | | | | | 3.4 | | |
| Materials | | | | | 2.5 | | |
| Utilities | | | | | 1.3 | | |
| Energy | | | | | 1.0 | | |
| Money Market Funds | | | | | 0.1 | | |
| Total Investments | | | | | 100.0 | | |
| Other Assets and Liabilites, Net | | | | | 0.0(a) | | |
| Total Net Assets | | | | | 100.0% | | |
IQ Candriam ESG International Equity ETF
Net Assets ($ mil): $212.7
| Asset Class | | | % of
Net Assets | |
| Financials | | | | | 17.8% | | |
| Industrials | | | | | 16.9 | | |
| Health Care | | | | | 13.0 | | |
| Consumer Discretionary | | | | | 11.3 | | |
| Information Technology | | | | | 10.7 | | |
| Consumer Staples | | | | | 7.9 | | |
| Materials | | | | | 7.0 | | |
| Communication Services | | | | | 4.8 | | |
| Energy | | | | | 4.6 | | |
| Real Estate | | | | | 3.0 | | |
| Utilities | | | | | 2.7 | | |
| Money Market Funds | | | | | 1.5 | | |
| Total Investments | | | | | 101.2 | | |
| Other Assets and Liabilites, Net | | | | | (1.2) | | |
| Total Net Assets | | | | | 100.0% | | |
*
Each Fund’s portfolio is subject to change.
(a)
Less than 0.05%.
IQ Healthy Hearts ETF
Net Assets ($ mil): $7.2
| Asset Class | | | % of
Net Assets | |
| Health Care | | | | | 62.4% | | |
| Consumer Discretionary | | | | | 17.2 | | |
| Consumer Staples | | | | | 8.2 | | |
| Communication Services | | | | | 5.2 | | |
| Information Technology | | | | | 5.1 | | |
| Industrials | | | | | 1.3 | | |
| Real Estate | | | | | 0.5 | | |
| Money Market Funds | | | | | 0.0(a) | | |
| Total Investments | | | | | 99.9 | | |
| Other Assets and Liabilites, Net | | | | | 0.1 | | |
| Total Net Assets | | | | | 100.0% | | |
IQ Engender Equality ETF
Net Assets ($ mil): $5.0
| Asset Class | | | % of
Net Assets | |
| Financials | | | | | 18.1% | | |
| Health Care | | | | | 17.1 | | |
| Consumer Discretionary | | | | | 16.6 | | |
| Information Technology | | | | | 16.1 | | |
| Consumer Staples | | | | | 11.6 | | |
| Communication Services | | | | | 8.6 | | |
| Industrials | | | | | 6.9 | | |
| Materials | | | | | 3.8 | | |
| Real Estate | | | | | 1.3 | | |
| Total Investments | | | | | 100.1 | | |
| Other Assets and Liabilites, Net | | | | | (0.1) | | |
| Total Net Assets | | | | | 100.0% | | |
See notes to financial statements.
Portfolio Summaries* (continued)
October 31, 2021 (unaudited)
IQ Cleaner Trasport ETF
Net Assets ($ mil): $5.2
| Asset Class | | | % of
Net Assets | |
| Industrials | | | | | 34.5% | | |
| Consumer Discretionary | | | | | 28.7 | | |
| Information Technology | | | | | 23.4 | | |
| Utilities | | | | | 9.8 | | |
| Communication Services | | | | | 3.0 | | |
| Materials | | | | | 0.5 | | |
| Money Market Funds | | | | | 0.0(a) | | |
| Total Investments | | | | | 99.9 | | |
| Other Assets and Liabilites, Net | | | | | 0.1 | | |
| Total Net Assets | | | | | 100.0% | | |
*
Each Fund’s portfolio is subject to change.
(a)
Less than 0.05%.
IQ Clean Oceans ETF
Net Assets ($ mil): $5.1
| Asset Class | | | % of
Net Assets | |
| Information Technology | | | | | 22.9% | | |
| Utilities | | | | | 17.2 | | |
| Industrials | | | | | 16.7 | | |
| Consumer Staples | | | | | 16.5 | | |
| Consumer Discretionary | | | | | 14.4 | | |
| Materials | | | | | 12.6 | | |
| Total Investments | | | | | 100.3 | | |
| Other Assets and Liabilites, Net | | | | | (0.3) | | |
| Total Net Assets | | | | | 100.0% | | |
See notes to financial statements.
Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Exchange Traded Note — 0.2% | |
| Volatility Note — 0.2% | |
iPath Series B S&P 500 VIX Short-Term Futures ETN*
(Cost $2,373,898) | | | | | 75,845 | | | | | $ | 1,626,117 | | |
| Exchange Traded Vehicles — 7.4% | |
| Gold Funds — 2.6% | |
Aberdeen Standard Physical Gold Shares ETF* | | | | | 82,071 | | | | | | 1,404,235 | | |
Graniteshares Gold Trust*(a) | | | | | 35,828 | | | | | | 633,797 | | |
iShares Gold Trust* | | | | | 500,699 | | | | | | 16,988,717 | | |
SPDR Gold MiniShares Trust*(a) | | | | | 150,692 | | | | | | 2,671,769 | | |
| Total Gold Funds | | | | | | | | | | | 21,698,518 | | |
| Silver Funds — 2.0% | |
Aberdeen Standard Physical Silver Shares ETF* | | | | | 49,830 | | | | | | 1,146,588 | | |
iShares Silver Trust* | | | | | 684,987 | | | | | | 15,131,363 | | |
| Total Silver Funds | | | | | | | | | | | 16,277,951 | | |
| U.S. Dollar Fund — 2.8% | |
Invesco DB U.S. Dollar Index Bullish Fund*(a) | | | | | 899,718 | | | | | | 22,717,880 | | |
| Total Exchange Traded Vehicles | | | |
| (Cost $61,063,415) | | | | | | | | | | | 60,694,349 | | |
| Investment Companies — 92.4% | |
| Bank Loan Funds — 10.6% | |
Invesco Senior Loan ETF(a) | | | | | 1,804,510 | | | | | | 39,843,581 | | |
| SPDR Blackstone Senior Loan ETF | | | | | 1,017,585 | | | | | | 46,707,152 | | |
| Total Bank Loan Funds | | | | | | | | | | | 86,550,733 | | |
| BRIC Equity Funds — 2.6% | |
| iShares MSCI China ETF | | | | | 235,682 | | | | | | 16,318,622 | | |
| SPDR S&P China ETF | | | | | 40,459 | | | | | | 4,555,683 | | |
| Total BRIC Equity Funds | | | | | | | | | | | 20,874,305 | | |
| Convertible Bond Funds — 10.4% | |
iShares Convertible Bond ETF(a) | | | | | 168,385 | | | | | | 17,246,833 | | |
SPDR Bloomberg Barclays Convertible Securities ETF(a) | | | | | 776,161 | | | | | | 68,286,645 | | |
| Total Convertible Bond Funds | | | | | | | | | | | 85,533,478 | | |
| Emerging Bonds — Local Currency Funds — 2.0% | |
| SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | | | | | 180,983 | | | | | | 4,504,667 | | |
VanEck J. P. Morgan EM Local Currency
Bond ETF | | | | | 403,147 | | | | | | 11,868,648 | | |
| Total Emerging Bonds — Local Currency Funds | | | | | | | | | | | 16,373,315 | | |
| Emerging Bonds — USD Funds — 1.7% | |
iShares J.P. Morgan USD Emerging Markets Bond ETF(a) | | | | | 110,253 | | | | | | 12,115,702 | | |
Vanguard Emerging Markets Government Bond ETF(a) | | | | | 23,326 | | | | | | 1,819,428 | | |
Total Emerging Bonds — USD
Funds | | | | | | | | | | | 13,935,130 | | |
| | | | Shares | | | Value | |
| Investment Companies (continued) | |
| Emerging Equity Funds — 3.2% | |
iShares Core MSCI Emerging
Markets ETF | | | | | 206,958 | | | | | $ | 12,920,388 | | |
Vanguard FTSE Emerging Markets
ETF(a) | | | | | 257,581 | | | | | | 13,049,053 | | |
| Total Emerging Equity Funds | | | | | | | | | | | 25,969,441 | | |
| Emerging Markets Small Cap Equity Fund — 2.0% | |
| SPDR S&P Emerging Markets SmallCap ETF | | | | | 278,763 | | | | | | 16,530,646 | | |
| Europe Equity Funds — 5.5% | |
iShares Core MSCI Europe ETF(a) | | | | | 152,027 | | | | | | 8,951,350 | | |
| Vanguard FTSE Europe ETF | | | | | 521,439 | | | | | | 35,932,361 | | |
| Total Europe Equity Funds | | | | | | | | | | | 44,883,711 | | |
| Floating Rate — Investment Grade Funds — 2.2% | |
iShares Floating Rate Bond ETF(a) | | | | | 259,346 | | | | | | 13,172,183 | | |
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF(a) | | | | | 157,751 | | | | | | 4,833,491 | | |
| Total Floating Rate — Investment Grade Funds | | | | | | | | | | | 18,005,674 | | |
| High Yield Corporate Bond Funds — 1.9% | |
| iShares 0-5 Year High Yield Corporate Bond ETF | | | | | 18,331 | | | | | | 834,977 | | |
iShares iBoxx High Yield Corporate Bond
ETF(a) | | | | | 85,919 | | | | | | 7,468,939 | | |
SPDR Bloomberg Barclays High Yield Bond ETF(a) | | | | | 32,040 | | | | | | 3,480,185 | | |
| SPDR Bloomberg Barclays Short Term High Yield Bond ETF | | | | | 27,059 | | | | | | 738,981 | | |
Xtrackers USD High Yield Corporate Bond ETF(a) | | | | | 65,917 | | | | | | 2,624,815 | | |
| Total High Yield Corporate Bond Funds | | | | | | | | | | | 15,147,897 | | |
| International Bond Fund — 1.7% | |
SPDR Bloomberg Barclays International
Treasury Bond ETF | | | | | 492,684 | | | | | | 14,080,909 | | |
| International Equity Core Funds — 0.5% | |
| iShares Core MSCI EAFE ETF | | | | | 28,045 | | | | | | 2,145,723 | | |
Vanguard FTSE Developed Markets
ETF | | | | | 43,024 | | | | | | 2,242,411 | | |
Total International Equity Core
Funds | | | | | | | | | | | 4,388,134 | | |
| International Large Cap Growth Fund — 0.6% | |
iShares MSCI EAFE Growth ETF(a) | | | | | 42,460 | | | | | | 4,710,937 | | |
| International Small Cap Equity Funds — 2.1% | |
Schwab International Small-Cap Equity
ETF | | | | | 110,798 | | | | | | 4,758,774 | | |
| Vanguard FTSE All World ex-U.S. Small-Cap ETF | | | | | 89,612 | | | | | | 12,364,664 | | |
| Total International Small Cap Equity Funds | | | | | | | | | | | 17,123,438 | | |
| |
See notes to financial statements.
Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Investment Companies (continued) | |
| Investment Grade Corporate Bond Funds — 18.6% | |
| iShares Broad USD Investment Grade Corporate Bond ETF | | | | | 6,202 | | | | | $ | 373,546 | | |
iShares iBoxx $ Investment Grade Corporate Bond ETF(a) | | | | | 17,293 | | | | | | 2,308,270 | | |
| SPDR Portfolio Short Term Corporate Bond ETF | | | | | 735,553 | | | | | | 22,883,054 | | |
| Vanguard Intermediate-Term Corporate Bond ETF | | | | | 27,653 | | | | | | 2,596,340 | | |
Vanguard Short-Term Corporate Bond ETF(a) | | | | | 1,521,897 | | | | | | 124,612,926 | | |
| Total Investment Grade Corporate Bond Funds | | | | | | | | | | | 152,774,136 | | |
| Mortgage Backed Securities Funds — 0.6% | |
| iShares MBS ETF | | | | | 24,921 | | | | | | 2,687,231 | | |
SPDR Portfolio Mortgage Backed Bond
ETF(a) | | | | | 17,265 | | | | | | 440,776 | | |
Vanguard Mortgage-Backed Securities
ETF(a) | | | | | 30,703 | | | | | | 1,630,636 | | |
| Total Mortgage Backed Securities Funds | | | | | | | | | | | 4,758,643 | | |
| Municipal Bond Fund — 0.1% | |
VanEck High Yield Muni ETF(a) | | | | | 19,143 | | | | | | 1,188,589 | | |
| U.S. Large Cap Core Funds — 1.5% | |
| Energy Select Sector SPDR Fund | | | | | 40,846 | | | | | | 2,347,420 | | |
| Financial Select Sector SPDR Fund | | | | | 152,323 | | | | | | 6,132,524 | | |
Health Care Select Sector SPDR
Fund(a) | | | | | 2,673 | | | | | | 357,701 | | |
| Technology Select Sector SPDR Fund | | | | | 5,575 | | | | | | 900,530 | | |
| Vanguard Energy ETF | | | | | 5,948 | | | | | | 483,096 | | |
| Vanguard Financials ETF | | | | | 16,368 | | | | | | 1,631,071 | | |
Vanguard Health Care ETF(a) | | | | | 1,482 | | | | | | 383,023 | | |
Vanguard Information Technology
ETF | | | | | 520 | | | | | | 225,763 | | |
| Total U.S. Large Cap Core Funds | | | | | | | | | | | 12,461,128 | | |
| U.S. Large Cap Growth Funds — 1.5% | |
| Schwab U.S. Large-Cap Growth ETF | | | | | 10,282 | | | | | | 1,658,075 | | |
Vanguard Growth ETF(a) | | | | | 27,070 | | | | | | 8,504,041 | | |
Vanguard Mega Cap Growth ETF(a) | | | | | 4,957 | | | | | | 1,259,772 | | |
| Vanguard Russell 1000 Growth ETF | | | | | 9,623 | | | | | | 737,122 | | |
| Total U.S. Large Cap Growth Funds | | | | | | | | | | | 12,159,010 | | |
| U.S. Medium Term Treasury Bond Funds — 6.0% | |
iShares 3-7 Year Treasury Bond ETF(a) | | | | | 180,410 | | | | | | 23,281,911 | | |
Schwab Intermediate-Term U.S. Treasury
ETF(a) | | | | | 145,570 | | | | | | 8,183,945 | | |
Vanguard Intermediate-Term Treasury ETF(a) | | | | | 259,100 | | | | | | 17,359,700 | | |
Total U.S. Medium Term Treasury Bond
Funds | | | | | | | | | | | 48,825,556 | | |
| U.S. Preferred Funds — 1.4% | |
Invesco Preferred ETF(a) | | | | | 204,593 | | | | | | 3,085,262 | | |
iShares Preferred & Income Securities ETF(a) | | | | | 213,632 | | | | | | 8,410,692 | | |
| Total U.S. Preferred Funds | | | | | | | | | | | 11,495,954 | | |
| |
| | | | Shares | | | Value | |
| Investment Companies (continued) | |
| U.S. Small Cap Growth Funds — 2.4% | |
iShares Russell 2000 Growth ETF(a) | | | | | 22,105 | | | | | $ | 6,795,519 | | |
iShares S&P Small-Cap 600 Growth ETF(a) | | | | | 26,268 | | | | | | 3,559,577 | | |
Vanguard Small-Cap Growth ETF(a) | | | | | 31,316 | | | | | | 9,257,009 | | |
| Total U.S. Small Cap Growth Funds | | | | | | | | | | | 19,612,105 | | |
| U.S. Ultra Short Term Bond Funds — 13.3% | |
Invesco Treasury Collateral ETF(a) | | | | | 2,914 | | | | | | 307,908 | | |
IQ Ultra Short Duration ETF†(b) | | | | | 2,209,310 | | | | | | 109,143,449 | | |
Total U.S. Ultra Short Term Bond
Funds | | | | | | | | | | | 109,451,357 | | |
Total Investment Companies
(Cost $735,924,832) | | | | | | | | | | | 756,834,226 | | |
| Short-Term Investments — 10.6% | | | | | | | | | | | | | |
| Money Market Funds — 10.6% | | | | | | | | | | | | | |
Dreyfus Government Cash Management Fund, Institutional Shares, 0.03%(c)(d) | | | | | 85,810,162 | | | | | | 85,810,162 | | |
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 0.01%(c) | | | | | 781,922 | | | | | | 781,922 | | |
Total Short-Term Investments
(Cost $86,592,084) | | | | | | | | | | | 86,592,084 | | |
Total Investments — 110.6%
(Cost $885,954,229) | | | | | | | | | | | 905,746,776 | | |
Other Assets and Liabilities,
Net — (10.6)% | | | | | | | | | | | (86,351,537) | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 819,395,239 | | |
| |
*
Non-income producing securities.
†
Affiliated Fund.
(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 $130,691,744; total market value of collateral held by the Fund was $133,575,953. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $47,765,791.
(b)
All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $642,221.
(c)
Reflects the 1-day yield at October 31, 2021.
(d)
Represents security purchased with cash collateral received for securities on loan.
Abbreviation
BRIC — Brazil, Russia, India, China
See notes to financial statements.
Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
October 31, 2021 (unaudited)
Total Return Swap contracts outstanding at October 31, 2021:
| Total Return Benchmark | | | Counterparty | | | Floating
Rate(e) | | | Expiration
Date | | | Payment
Frequency | | | Notional
Amount
Long/
(Short) | | | Value/
Unrealized
Appreciation/
(Depreciation)(f) | |
Aberdeen Standard Physical Gold
Shares ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | $ | 36,359 | | | | | $ | — | | |
Aberdeen Standard Physical Gold
Shares ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 36,359 | | | | | | — | | |
Aberdeen Standard Physical Silver
Shares ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 29,683 | | | | | | — | | |
Aberdeen Standard Physical Silver
Shares ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 29,683 | | | | | | — | | |
| Consumer Discretionary Select Sector SPDR Fund | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (1,000,520) | | | | | | — | | |
| Consumer Discretionary Select Sector SPDR Fund | | | Morgan Stanley | | | 1-Day FEDEF - 0.05% | | | | | 7/05/2023 | | | | Monthly | | | | | (1,000,520) | | | | | | — | | |
| Energy Select Sector SPDR Fund | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 60,803 | | | | | | — | | |
| Energy Select Sector SPDR Fund | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 60,803 | | | | | | — | | |
Fidelity MSCI Real Estate Index
ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (73,498) | | | | | | — | | |
Fidelity MSCI Real Estate Index
ETF | | | Morgan Stanley | | | 1-Day FEDEF - 24.40% | | | | | 7/05/2023 | | | | Monthly | | | | | (73,498) | | | | | | — | | |
Financial Select Sector SPDR
Fund | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 158,785 | | | | | | — | | |
Financial Select Sector SPDR
Fund | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 158,785 | | | | | | — | | |
| FlexShares Global Upstream Natural Resources Index Fund | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (32,778) | | | | | | — | | |
| FlexShares Global Upstream Natural Resources Index Fund | | | Morgan Stanley | | | 1-Day FEDEF - 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | (32,778) | | | | | | — | | |
| Graniteshares Gold Trust | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 16,416 | | | | | | — | | |
| Graniteshares Gold Trust | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 16,416 | | | | | | — | | |
| Health Care Select Sector SPDR Fund | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 9,234 | | | | | | — | | |
| Health Care Select Sector SPDR Fund | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 9,234 | | | | | | — | | |
Invesco DB U.S. Dollar Index Bullish
Fund | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 588,224 | | | | | | — | | |
Invesco DB U.S. Dollar Index Bullish
Fund | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 588,224 | | | | | | — | | |
| Invesco KBW Bank ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (139,912) | | | | | | — | | |
| Invesco KBW Bank ETF | | | Morgan Stanley | | | 1-Day FEDEF - 2.85% | | | | | 7/05/2023 | | | | Monthly | | | | | (139,912) | | | | | | — | | |
| Invesco Preferred ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 79,894 | | | | | | — | | |
| Invesco Preferred ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 79,894 | | | | | | — | | |
| Invesco Senior Loan ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 1,031,688 | | | | | | — | | |
| Invesco Senior Loan ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 1,031,688 | | | | | | — | | |
| Invesco Treasury Collateral ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 7,925 | | | | | | — | | |
| Invesco Treasury Collateral ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 7,925 | | | | | | — | | |
| iPath Series B S&P 500 VIX Short-Term Futures ETN | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 42,108 | | | | | | — | | |
| iPath Series B S&P 500 VIX Short-Term Futures ETN | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 42,108 | | | | | | — | | |
| IQ Ultra Short Duration ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 2,826,068 | | | | | | — | | |
| IQ Ultra Short Duration ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 2,826,068 | | | | | | — | | |
| iShares 0-5 Year High Yield Corporate Bond ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 21,636 | | | | | | — | | |
| iShares 0-5 Year High Yield Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 21,636 | | | | | | — | | |
iShares 20+ Year Treasury Bond
ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (2,918,059) | | | | | | — | | |
See notes to financial statements.
Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
October 31, 2021 (unaudited)
| Total Return Benchmark | | | Counterparty | | | Floating
Rate(e) | | | Expiration
Date | | | Payment
Frequency | | | Notional
Amount
Long/
(Short) | | | Value/
Unrealized
Appreciation/
(Depreciation)(f) | |
iShares 20+ Year Treasury Bond
ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.85% | | | | | 7/05/2023 | | | | Monthly | | | | $ | (2,918,059) | | | | | $ | — | | |
iShares 3-7 Year Treasury Bond
ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | 602,793 | | | | | | — | | |
iShares 3-7 Year Treasury Bond
ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 602,793 | | | | | | — | | |
| iShares Broad USD Investment Grade Corporate Bond ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 9,697 | | | | | | — | | |
| iShares Broad USD Investment Grade Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 9,697 | | | | | | — | | |
| iShares Convertible Bond ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 446,573 | | | | | | — | | |
| iShares Convertible Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 446,573 | | | | | | — | | |
| iShares Core MSCI EAFE ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | 55,546 | | | | | | — | | |
| iShares Core MSCI EAFE ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 55,546 | | | | | | — | | |
| iShares Core MSCI Emerging Markets ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 334,562 | | | | | | — | | |
| iShares Core MSCI Emerging Markets ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 334,562 | | | | | | — | | |
| iShares Core MSCI Europe ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 231,752 | | | | | | — | | |
| iShares Core MSCI Europe ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 231,752 | | | | | | — | | |
| iShares Core S&P U.S. Value ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (253,946) | | | | | | — | | |
| iShares Core S&P U.S. Value ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.85% | | | | | 7/05/2023 | | | | Monthly | | | | | (253,946) | | | | | | — | | |
| iShares Core U.S. REIT ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (88,803) | | | | | | — | | |
| iShares Core U.S. REIT ETF | | | Morgan Stanley | | | 1-Day FEDEF - 3.15% | | | | | 7/05/2023 | | | | Monthly | | | | | (88,803) | | | | | | — | | |
| iShares Floating Rate Bond ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 341,055 | | | | | | — | | |
| iShares Floating Rate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 341,055 | | | | | | — | | |
| iShares Gold Trust | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 439,902 | | | | | | — | | |
| iShares Gold Trust | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 439,902 | | | | | | — | | |
| iShares iBoxx $ Investment Grade Corporate Bond ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 59,799 | | | | | | — | | |
| iShares iBoxx $ Investment Grade Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 59,799 | | | | | | — | | |
iShares iBoxx High Yield Corporate
Bond ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 193,419 | | | | | | — | | |
iShares iBoxx High Yield Corporate
Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 193,419 | | | | | | — | | |
iShares J.P. Morgan USD Emerging
Markets Bond ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 313,736 | | | | | | — | | |
iShares J.P. Morgan USD Emerging
Markets Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 313,736 | | | | | | — | | |
| iShares MBS ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 69,550 | | | | | | — | | |
| iShares MBS ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 69,550 | | | | | | — | | |
| iShares MSCI China ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 422,572 | | | | | | — | | |
| iShares MSCI China ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 422,572 | | | | | | — | | |
| iShares MSCI EAFE Growth ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 121,934 | | | | | | — | | |
| iShares MSCI EAFE Growth ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 121,934 | | | | | | — | | |
| iShares MSCI Emerging Markets Min Vol Factor ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (4,332,714) | | | | | | — | | |
| iShares MSCI Emerging Markets Min Vol Factor ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 7/05/2023 | | | | Monthly | | | | | (4,332,714) | | | | | | — | | |
| iShares MSCI Japan ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (8,892) | | | | | | — | | |
| iShares MSCI Japan ETF | | | Morgan Stanley | | | 1-Day FEDEF - 1.35% | | | | | 7/05/2023 | | | | Monthly | | | | | (8,892) | | | | | | — | | |
| iShares MSCI USA Momentum Factor ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (1,255,056) | | | | | | — | | |
| iShares MSCI USA Momentum Factor ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | (1,255,056) | | | | | | — | | |
| iShares Preferred & Income Securities ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 217,795 | | | | | | — | | |
See notes to financial statements.
Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
October 31, 2021 (unaudited)
| Total Return Benchmark | | | Counterparty | | | Floating
Rate(e) | | | Expiration
Date | | | Payment
Frequency | | | Notional
Amount
Long/
(Short) | | | Value/
Unrealized
Appreciation/
(Depreciation)(f) | |
| iShares Preferred & Income Securities ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | $ | 217,795 | | | | | $ | — | | |
| iShares Russell 2000 Growth ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 175,844 | | | | | | — | | |
| iShares Russell 2000 Growth ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 175,844 | | | | | | — | | |
| iShares Russell 2000 Value ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (172,037) | | | | | | — | | |
| iShares Russell 2000 Value ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 7/05/2023 | | | | Monthly | | | | | (172,037) | | | | | | — | | |
iShares S&P Small-Cap 600 Growth
ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 92,147 | | | | | | — | | |
iShares S&P Small-Cap 600 Growth
ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 92,147 | | | | | | — | | |
| iShares S&P Small-Cap 600 Value ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (95,473) | | | | | | — | | |
| iShares S&P Small-Cap 600 Value ETF | | | Morgan Stanley | | | 1-Day FEDEF - 3.10% | | | | | 7/05/2023 | | | | Monthly | | | | | (95,473) | | | | | | — | | |
| iShares Silver Trust | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 391,788 | | | | | | — | | |
| iShares Silver Trust | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 391,788 | | | | | | — | | |
| iShares TIPS Bond ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (433,103) | | | | | | — | | |
| iShares TIPS Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 7/05/2023 | | | | Monthly | | | | | (433,103) | | | | | | — | | |
| Schwab Intermediate-Term U.S. Treasury ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 211,893 | | | | | | — | | |
| Schwab Intermediate-Term U.S. Treasury ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 211,893 | | | | | | — | | |
| Schwab International Small-Cap Equity ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 123,224 | | | | | | — | | |
| Schwab International Small-Cap Equity ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 123,224 | | | | | | — | | |
| Schwab U.S. Large-Cap Growth ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 42,895 | | | | | | — | | |
| Schwab U.S. Large-Cap Growth ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 42,895 | | | | | | — | | |
Schwab U.S. Large-Cap Value
ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (234,039) | | | | | | — | | |
Schwab U.S. Large-Cap Value
ETF | | | Morgan Stanley | | | 1-Day FEDEF - 1.55% | | | | | 7/05/2023 | | | | Monthly | | | | | (234,039) | | | | | | — | | |
| Schwab U.S. TIPS ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (255,006) | | | | | | — | | |
| Schwab U.S. TIPS ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.90% | | | | | 7/05/2023 | | | | Monthly | | | | | (255,006) | | | | | | — | | |
| SPDR Blackstone Senior Loan ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 1,209,419 | | | | | | — | | |
| SPDR Blackstone Senior Loan ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 1,209,419 | | | | | | — | | |
| SPDR Bloomberg Barclays Convertible Securities ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 1,768,134 | | | | | | — | | |
| SPDR Bloomberg Barclays Convertible Securities ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 1,768,134 | | | | | | — | | |
| SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | 116,635 | | | | | | — | | |
| SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 116,635 | | | | | | — | | |
| SPDR Bloomberg Barclays High Yield Bond ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 90,155 | | | | | | — | | |
| SPDR Bloomberg Barclays High Yield Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 90,155 | | | | | | — | | |
SPDR Bloomberg Barclays International Treasury Bond
ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 364,595 | | | | | | — | | |
SPDR Bloomberg Barclays International Treasury Bond
ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 364,595 | | | | | | — | | |
See notes to financial statements.
Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
October 31, 2021 (unaudited)
| Total Return Benchmark | | | Counterparty | | | Floating
Rate(e) | | | Expiration
Date | | | Payment
Frequency | | | Notional
Amount
Long/
(Short) | | | Value/
Unrealized
Appreciation/
(Depreciation)(f) | |
SPDR Bloomberg Barclays
Investment Grade Floating Rate
ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | $ | 125,164 | | | | | $ | — | | |
SPDR Bloomberg Barclays
Investment Grade Floating Rate
ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 125,164 | | | | | | — | | |
| SPDR Bloomberg Barclays Short Term High Yield Bond ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 19,144 | | | | | | — | | |
| SPDR Bloomberg Barclays Short Term High Yield Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 19,144 | | | | | | — | | |
SPDR Dow Jones International Real
Estate ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (665,564) | | | | | | — | | |
SPDR Dow Jones International Real
Estate ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.80% | | | | | 7/05/2023 | | | | Monthly | | | | | (665,564) | | | | | | — | | |
| SPDR Gold MiniShares Trust | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 69,182 | | | | | | — | | |
| SPDR Gold MiniShares Trust | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 69,182 | | | | | | — | | |
| SPDR Portfolio Long Term Treasury ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (692,189) | | | | | | — | | |
| SPDR Portfolio Long Term Treasury ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 7/05/2023 | | | | Monthly | | | | | (692,189) | | | | | | — | | |
| SPDR Portfolio Mortgage Backed Bond ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 11,412 | | | | | | — | | |
| SPDR Portfolio Mortgage Backed Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 11,412 | | | | | | — | | |
| SPDR Portfolio S&P 500 Value ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (298,868) | | | | | | — | | |
| SPDR Portfolio S&P 500 Value ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.65% | | | | | 7/05/2023 | | | | Monthly | | | | | (298,868) | | | | | | — | | |
| SPDR Portfolio Short Term Corporate Bond ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 592,521 | | | | | | — | | |
| SPDR Portfolio Short Term Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 592,521 | | | | | | — | | |
| SPDR S&P Bank ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (138,461) | | | | | | — | | |
| SPDR S&P Bank ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 7/05/2023 | | | | Monthly | | | | | (138,461) | | | | | | — | | |
| SPDR S&P China ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | 118,005 | | | | | | — | | |
| SPDR S&P China ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 118,005 | | | | | | — | | |
| SPDR S&P Emerging Markets SmallCap ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 428,027 | | | | | | — | | |
| SPDR S&P Emerging Markets SmallCap ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 428,027 | | | | | | — | | |
| SPDR S&P Global Natural Resources ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (13,031) | | | | | | — | | |
| SPDR S&P Global Natural Resources ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | (13,031) | | | | | | — | | |
| Technology Select Sector SPDR Fund | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 23,260 | | | | | | — | | |
| Technology Select Sector SPDR Fund | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 23,260 | | | | | | — | | |
| VanEck High Yield Muni ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 30,797 | | | | | | — | | |
| VanEck J. P. Morgan EM Local Currency Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 307,324 | | | | | | — | | |
VanEck Vectors High Yield Muni
ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 30,797 | | | | | | — | | |
| VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | 307,324 | | | | | | — | | |
Vanguard Consumer Discretionary
ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (321,192) | | | | | | — | | |
Vanguard Consumer Discretionary
ETF | | | Morgan Stanley | | | 1-Day FEDEF - 4.40% | | | | | 7/05/2023 | | | | Monthly | | | | | (321,192) | | | | | | — | | |
| Vanguard Emerging Markets Government Bond ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 47,112 | | | | | | — | | |
See notes to financial statements.
Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
October 31, 2021 (unaudited)
| Total Return Benchmark | | | Counterparty | | | Floating
Rate(e) | | | Expiration
Date | | | Payment
Frequency | | | Notional
Amount
Long/
(Short) | | | Value/
Unrealized
Appreciation/
(Depreciation)(f) | |
| Vanguard Emerging Markets Government Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | $ | 47,112 | | | | | $ | — | | |
| Vanguard Energy ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 12,508 | | | | | | — | | |
| Vanguard Energy ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 12,508 | | | | | | — | | |
| Vanguard Financials ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 42,252 | | | | | | — | | |
| Vanguard Financials ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 42,252 | | | | | | — | | |
| Vanguard FTSE All World ex-U.S. Small-Cap ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | 320,114 | | | | | | — | | |
| Vanguard FTSE All World ex-U.S. Small-Cap ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 320,114 | | | | | | — | | |
Vanguard FTSE Developed Markets
ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 58,062 | | | | | | — | | |
Vanguard FTSE Developed Markets
ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 58,062 | | | | | | — | | |
| Vanguard FTSE Emerging Markets ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 337,902 | | | | | | — | | |
| Vanguard FTSE Emerging Markets ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 337,902 | | | | | | — | | |
| Vanguard FTSE Europe ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 930,423 | | | | | | — | | |
| Vanguard FTSE Europe ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 930,423 | | | | | | — | | |
| Vanguard Global ex-U.S. Real Estate ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (3,744,860) | | | | | | — | | |
| Vanguard Global ex-U.S. Real Estate ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 7/05/2023 | | | | Monthly | | | | | (3,744,860) | | | | | | — | | |
| Vanguard Growth ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 220,219 | | | | | | — | | |
| Vanguard Growth ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 220,219 | | | | | | — | | |
| Vanguard Health Care ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | 9,821 | | | | | | — | | |
| Vanguard Health Care ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 9,821 | | | | | | — | | |
Vanguard Information Technology
ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 5,644 | | | | | | — | | |
Vanguard Information Technology
ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 5,644 | | | | | | — | | |
| Vanguard Intermediate-Term Corporate Bond ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 67,225 | | | | | | — | | |
| Vanguard Intermediate-Term Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 67,225 | | | | | | — | | |
| Vanguard Intermediate-Term Treasury ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 449,503 | | | | | | — | | |
| Vanguard Intermediate-Term Treasury ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 449,503 | | | | | | — | | |
Vanguard Long-Term Treasury
ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (390,560) | | | | | | — | | |
Vanguard Long-Term Treasury
ETF | | | Morgan Stanley | | | 1-Day FEDEF - 2.65% | | | | | 7/05/2023 | | | | Monthly | | | | | (390,560) | | | | | | — | | |
Vanguard Mega Cap Growth
ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 32,530 | | | | | | — | | |
Vanguard Mega Cap Growth
ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 32,530 | | | | | | — | | |
| Vanguard Mortgage-Backed Securities ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 42,222 | | | | | | — | | |
| Vanguard Mortgage-Backed Securities ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 42,222 | | | | | | — | | |
| Vanguard Real Estate ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (1,644,432) | | | | | | — | | |
| Vanguard Real Estate ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.15% | | | | | 7/05/2023 | | | | Monthly | | | | | (1,644,432) | | | | | | — | | |
Vanguard Russell 1000 Growth
ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 19,073 | | | | | | — | | |
Vanguard Russell 1000 Growth
ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 19,073 | | | | | | — | | |
| Vanguard Russell 1000 Value | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (155,468) | | | | | | — | | |
See notes to financial statements.
Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
October 31, 2021 (unaudited)
| Total Return Benchmark | | | Counterparty | | | Floating
Rate(e) | | | Expiration
Date | | | Payment
Frequency | | | Notional
Amount
Long/
(Short) | | | Value/
Unrealized
Appreciation/
(Depreciation)(f) | |
| Vanguard Russell 1000 Value | | | Morgan Stanley | | | 1-Day FEDEF - 0.85% | | | | | 7/05/2023 | | | | Monthly | | | | $ | (155,468) | | | | | $ | — | | |
| Vanguard Short-Term Corporate Bond ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 3,226,645 | | | | | | — | | |
| Vanguard Short-Term Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 3,226,645 | | | | | | — | | |
Vanguard Small-Cap Growth
ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 239,732 | | | | | | — | | |
Vanguard Small-Cap Growth
ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 239,732 | | | | | | — | | |
| Vanguard Small-Cap Value ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (273,773) | | | | | | — | | |
| Vanguard Small-Cap Value ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 7/05/2023 | | | | Monthly | | | | | (273,773) | | | | | | — | | |
| Vanguard Value ETF | | | Merrill Lynch | | | 1-Day FEDL01 | | | | | 2/28/2023 | | | | Monthly | | | | | (2,034,759) | | | | | | — | | |
| Vanguard Value ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 7/05/2023 | | | | Monthly | | | | | (2,034,759) | | | | | | — | | |
| Xtrackers USD High Yield Corporate Bond ETF | | | Merrill Lynch | | | 1-Day FEDL01 + 0.50% | | | | | 2/28/2023 | | | | Monthly | | | | | 67,973 | | | | | | — | | |
| Xtrackers USD High Yield Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 67,973 | | | | | | — | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | $ | — | | |
| |
Cash posted has been segregated as collateral for swaps in the amount of $880,000 at October 31, 2021.
The total value of securities segregated as collateral for swap contracts with counterparty Morgan Stanley amounted to $642,221 and with Merrill Lynch amounted to $ — at October 31, 2021. The Fund either receives fees from, or pays to the counterparty, the total return of the benchmark and the agreed-upon financing rate.
(e)
Portfolio pays or receives the floating rate and receives or pays the total return of the reference rate entity.
(f)
Reflects the value at reset date of October 31, 2021.
Abbreviations
FEDEF — Federal Funds Effective Rate
FEDL01 — Federal Funds Effective Rate
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investments in Securities:(g) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Exchange Traded Note | | | | $ | 1,626,117 | | | | | $ | — | | | | | $ | — | | | | | $ | 1,626,117 | | |
| Exchange Traded Vehicles | | | | | 60,694,349 | | | | | | — | | | | | | — | | | | | | 60,694,349 | | |
| Investment Companies | | | | | 756,834,226 | | | | | | — | | | | | | — | | | | | | 756,834,226 | | |
| Short-Term Investments: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Money Market Funds | | | | | 86,592,084 | | | | | | — | | | | | | — | | | | | | 86,592,084 | | |
| Total Investments in Securities | | | | | 905,746,776 | | | | | | — | | | | | | — | | | | | | 905,746,776 | | |
| Other Financial Instruments:(h) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Swap Contracts | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Total Investments in Securities and Other Financial Instruments | | | | $ | 905,746,776 | | | | | $ | — | | | | | $ | — | | | | | $ | 905,746,776 | | |
| Liability Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Other Financial Instruments:(h) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Swap Contracts | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
(g)
For a complete listing of investments and their industries, see the Schedule of Investments.
(h)
Reflects the unrealized appreciation (depreciation) of the instruments.
For the period ended October 31, 2021, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 2)
See notes to financial statements.
Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
October 31, 2021 (unaudited)
A summary of the Fund’s transactions with affiliated fund during the period ended October 31, 2021 is as follows:
Affiliated Holdings
| | | | Shares at
04/30/2021 | | | Value
($) at
04/30/2021 | | | Purchases
Cost
($) | | | Sales
Proceeds
($) | | | Net
Realized
Gain/
(Loss)
($) | | | Net
Change in
Unrealized
Appreciation/
(Depreciation)
($) | | | Income
Distributions
($) | | | Capital
Gain
Distributions
($) | | | Shares at
10/31/2021 | | | Value
($) at
10/31/2021 | |
IQ Ultra
Short
Duration
ETF | | | | | 2,333,212 | | | | | | 115,750,647 | | | | | | 17,785,309 | | | | | | (23,887,218) | | | | | | 18,517 | | | | | | (523,806) | | | | | | 568,020 | | | | | | — | | | | | | 2,209,310 | | | | | | 109,143,449 | | |
For more information on the determination, please refer to Note 6.
See notes to financial statements.
Schedule of Investments — IQ Hedge Macro Tracker ETF
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Exchange Traded Vehicles — 8.6% | |
| Gold Funds — 3.4% | |
Aberdeen Standard Physical Gold Shares
ETF* | | | | | 540 | | | | | $ | 9,239 | | |
Graniteshares Gold Trust*(a) | | | | | 236 | | | | | | 4,175 | | |
iShares Gold Trust* | | | | | 3,292 | | | | | | 111,697 | | |
SPDR Gold MiniShares Trust* | | | | | 991 | | | | | | 17,571 | | |
| Total Gold Funds | | | | | | | | | | | 142,682 | | |
| Silver Funds — 2.5% | |
Aberdeen Standard Physical Silver Shares
ETF* | | | | | 328 | | | | | | 7,547 | | |
iShares Silver Trust* | | | | | 4,504 | | | | | | 99,494 | | |
| Total Silver Funds | | | | | | | | | | | 107,041 | | |
| U.S. Dollar Fund — 2.7% | |
Invesco DB U.S. Dollar Index Bullish
Fund*(a) | | | | | 4,511 | | | | | | 113,902 | | |
| Total Exchange Traded Vehicles | | | | | | | | | | | | | |
| (Cost $361,622) | | | | | | | | | | | 363,625 | | |
| Investment Companies — 91.3% | |
| BRIC Equity Funds — 7.2% | |
| iShares MSCI China ETF | | | | | 3,443 | | | | | | 238,393 | | |
| SPDR S&P China ETF | | | | | 591 | | | | | | 66,547 | | |
| Total BRIC Equity Funds | | | | | | | | | | | 304,940 | | |
| Convertible Bond Funds — 8.3% | |
| iShares Convertible Bond ETF | | | | | 694 | | | | | | 71,083 | | |
| SPDR Bloomberg Barclays Convertible Securities ETF | | | | | 3,197 | | | | | | 281,272 | | |
| Total Convertible Bond Funds | | | | | | | | | | | 352,355 | | |
| Emerging Bonds — Local Currency Funds — 5.6% | |
| SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | | | | | 2,608 | | | | | | 64,913 | | |
| VanEck J. P. Morgan EM Local Currency Bond ETF | | | | | 5,808 | | | | | | 170,988 | | |
Total Emerging Bonds — Local Currency
Funds | | | | | | | | | | | 235,901 | | |
| Emerging Bonds — USD Funds — 2.7% | |
iShares J.P. Morgan USD Emerging Markets
Bond ETF(a) | | | | | 902 | | | | | | 99,121 | | |
Vanguard Emerging Markets Government
Bond ETF | | | | | 191 | | | | | | 14,898 | | |
| Total Emerging Bonds — USD Funds | | | | | | | | | | | 114,019 | | |
| Emerging Equity Funds — 8.0% | |
| iShares Core MSCI Emerging Markets ETF | | | | | 2,708 | | | | | | 169,061 | | |
| Vanguard FTSE Emerging Markets ETF | | | | | 3,370 | | | | | | 170,724 | | |
| Total Emerging Equity Funds | | | | | | | | | | | 339,785 | | |
| Emerging Small Cap Equity Fund — 2.7% | |
SPDR S&P Emerging Markets SmallCap
ETF | | | | | 1,947 | | | | | | 115,457 | | |
| Europe Equity Funds — 7.0% | |
iShares Core MSCI Europe ETF(a) | | | | | 1,000 | | | | | | 58,880 | | |
| Vanguard FTSE Europe ETF | | | | | 3,429 | | | | | | 236,292 | | |
| Total Europe Equity Funds | | | | | | | | | | | 295,172 | | |
| | | | Shares | | | Value | |
| Investment Companies (continued) | |
| Floating Rate — Investment Grade Funds — 5.6% | |
| iShares Floating Rate Bond ETF | | | | | 3,454 | | | | | $ | 175,429 | | |
| SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | | | | | 2,101 | | | | | | 64,374 | | |
Total Floating Rate — Investment Grade
Funds | | | | | | | | | | | 239,803 | | |
| High Yield Corporate Bond Funds — 3.2% | |
iShares iBoxx High Yield Corporate Bond ETF(a) | | | | | 851 | | | | | | 73,977 | | |
SPDR Bloomberg Barclays High Yield Bond
ETF(a) | | | | | 317 | | | | | | 34,433 | | |
Xtrackers USD High Yield Corporate Bond ETF(a) | | | | | 653 | | | | | | 26,003 | | |
Total High Yield Corporate Bond
Funds | | | | | | | | | | | 134,413 | | |
| Investment Grade Corporate Bond Funds — 6.6% | |
SPDR Portfolio Short Term Corporate Bond
ETF | | | | | 1,393 | | | | | | 43,336 | | |
Vanguard Short-Term Corporate Bond
ETF | | | | | 2,882 | | | | | | 235,978 | | |
| Total Investment Grade Corporate Bond Funds | | | | | | | | | | | 279,314 | | |
| U.S. Large Cap Core Funds — 0.5% | |
| Energy Select Sector SPDR Fund | | | | | 292 | | | | | | 16,781 | | |
| Vanguard Energy ETF | | | | | 43 | | | | | | 3,493 | | |
| Total U.S. Large Cap Core Funds | | | | | | | | | | | 20,274 | | |
| U.S. Large Cap Growth Funds — 1.0% | |
| Schwab U.S. Large-Cap Growth ETF | | | | | 35 | | | | | | 5,644 | | |
Vanguard Growth ETF(a) | | | | | 91 | | | | | | 28,588 | | |
Vanguard Mega Cap Growth ETF(a) | | | | | 17 | | | | | | 4,320 | | |
| Vanguard Russell 1000 Growth ETF | | | | | 32 | | | | | | 2,451 | | |
| Total U.S. Large Cap Growth Funds | | | | | | | | | | | 41,003 | | |
| U.S. Medium Term Treasury Bond Funds — 6.6% | |
| iShares 3-7 Year Treasury Bond ETF | | | | | 1,030 | | | | | | 132,921 | | |
| Schwab Intermediate-Term U.S. Treasury ETF | | | | | 831 | | | | | | 46,719 | | |
Vanguard Intermediate-Term Treasury
ETF | | | | | 1,479 | | | | | | 99,093 | | |
| Total U.S. Medium Term Treasury Bond Funds | | | | | | | | | | | 278,733 | | |
| U.S. Ultra Short Term Bond Funds — 26.3% | |
| Invesco Treasury Collateral ETF | | | | | 30 | | | | | | 3,170 | | |
IQ Ultra Short Duration ETF† | | | | | 22,493 | | | | | | 1,111,190 | | |
| Total U.S. Ultra Short Term Bond Funds | | | | | | | | | | | 1,114,360 | | |
| Total Investment Companies | | | | | | | | | | | | | |
| (Cost $3,620,708) | | | | | | | | | | | 3,865,529 | | |
| Short-Term Investments — 6.3% | |
| Money Market Funds — 6.3% | |
Dreyfus Government Cash Management Fund, Institutional Shares, 0.03%(b)(c) | | | | | 259,144 | | | | | | 259,144 | | |
See notes to financial statements.
Schedule of Investments — IQ Hedge Macro Tracker ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Short-Term Investments (continued) | |
| Money Market Funds (continued) | |
Dreyfus Institutional Preferred Government
Money Market Fund, Institutional Shares,
0.01%(b) | | | | | 8,324 | | | | | $ | 8,324 | | |
| Total Short-Term Investments | | | | | | | | | | | | | |
| (Cost $267,468) | | | | | | | | | | | 267,468 | | |
| Total Investments — 106.2% | | | | | | | | | | | | | |
| (Cost $4,249,798) | | | | | | | | | | | 4,496,622 | | |
Other Assets and Liabilities,
Net — (6.2)% | | | | | | | | | | | (263,808) | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 4,232,814 | | |
| |
*
Non-income producing securities.
†
Affiliated Fund.
(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 $370,352; total market value of collateral held by the Fund was $379,174. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $120,030.
(b)
Reflects the 1-day yield at October 31, 2021.
(c)
Represents security purchased with cash collateral received for securities on loan.
Abbreviation
BRIC — Brazil, Russia, India, China
Total Return Swap contracts outstanding at October 31, 2021:
| Total Return Benchmark | | | Counterparty | | | Floating
Rate(d) | | | Expiration
Date | | | Payment
Frequency | | | Notional
Amount
Long/
(Short) | | | Value/
Unrealized
Appreciation/
(Depreciation)(e) | |
| Aberdeen Standard Physical Gold Shares ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | $ | 924 | | | | | $ | — | | |
| Aberdeen Standard Physical Silver Shares ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 759 | | | | | | — | | |
| Energy Select Sector SPDR Fund | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 1,667 | | | | | | — | | |
Fidelity MSCI Real Estate Index
ETF | | | Morgan Stanley | | | 1-Day FEDEF - 39.13% | | | | | 5/03/2022 | | | | Monthly | | | | | (1,628) | | | | | | — | | |
FlexShares Global Upstream Natural
Resources Index Fund | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 5/03/2022 | | | | Monthly | | | | | (1,009) | | | | | | — | | |
| Graniteshares Gold Trust | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 425 | | | | | | — | | |
| Invesco DB U.S. Dollar Index Bullish Fund | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 11,413 | | | | | | — | | |
| Invesco Treasury Collateral ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 317 | | | | | | — | | |
| IQ Ultra Short Duration ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 111,351 | | | | | | — | | |
| iShares 20+ Year Treasury Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.83% | | | | | 5/03/2022 | | | | Monthly | | | | | (40,024) | | | | | | — | | |
| iShares 3-7 Year Treasury Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 13,292 | | | | | | — | | |
| iShares Broad USD Investment Grade Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF - 2.43% | | | | | 5/03/2022 | | | | Monthly | | | | | (5,421) | | | | | | — | | |
| iShares Convertible Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 7,170 | | | | | | — | | |
| iShares Core MSCI Emerging Markets ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 16,919 | | | | | | — | | |
| iShares Core MSCI Europe ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | �� | | | | 5,888 | | | | | | — | | |
| iShares Core U.S. REIT ETF | | | Morgan Stanley | | | 1-Day FEDEF - 2.98% | | | | | 5/03/2022 | | | | Monthly | | | | | (1,955) | | | | | | — | | |
| iShares Floating Rate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 17,573 | | | | | | — | | |
| iShares Gold Trust | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 11,197 | | | | | | — | | |
| iShares iBoxx $ Investment Grade Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 5/03/2022 | | | | Monthly | | | | | (33,503) | | | | | | — | | |
| iShares iBoxx High Yield Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 7,389 | | | | | | — | | |
| iShares JP Morgan USD Emerging Markets Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 9,890 | | | | | | — | | |
| iShares MSCI China ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 23,888 | | | | | | — | | |
iShares MSCI Emerging Markets Min
Vol Factor ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 5/03/2022 | | | | Monthly | | | | | (125,436) | | | | | | — | | |
| iShares MSCI Japan ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.58% | | | | | 5/03/2022 | | | | Monthly | | | | | (137) | | | | | | — | | |
| iShares Silver Trust | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 9,963 | | | | | | — | | |
| Schwab Intermediate-Term U.S. Treasury ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 4,666 | | | | | | — | | |
Schwab U.S. Large-Cap Growth
ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 484 | | | | | | — | | |
See notes to financial statements.
Schedule of Investments — IQ Hedge Macro Tracker ETF (continued)
October 31, 2021 (unaudited)
| Total Return Benchmark | | | Counterparty | | | Floating
Rate(d) | | | Expiration
Date | | | Payment
Frequency | | | Notional
Amount
Long/
(Short) | | | Value/
Unrealized
Appreciation/
(Depreciation)(e) | |
| SPDR Bloomberg Barclays Convertible Securities ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | $ | 28,154 | | | | | $ | — | | |
SPDR Bloomberg Barclays Emerging
Markets Local Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 6,496 | | | | | | — | | |
SPDR Bloomberg Barclays High Yield
Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 3,476 | | | | | | — | | |
| SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 6,465 | | | | | | — | | |
| SPDR Dow Jones International Real Estate ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.63% | | | | | 5/03/2022 | | | | Monthly | | | | | (19,278) | | | | | | — | | |
| SPDR Gold MiniShares Trust | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 1,755 | | | | | | — | | |
| SPDR Portfolio Long Term Treasury ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 5/03/2022 | | | | Monthly | | | | | (9,501) | | | | | | — | | |
SPDR Portfolio Short Term Corporate
Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 4,355 | | | | | | — | | |
| SPDR S&P China ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 6,643 | | | | | | — | | |
| SPDR S&P Emerging Markets SmallCap ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 11,564 | | | | | | — | | |
SPDR S&P Global Natural Resources
ETF | | | Morgan Stanley | | | 1-Day FEDEF - 12.53% | | | | | 5/03/2022 | | | | Monthly | | | | | (378) | | | | | | — | | |
| VanEck J. P. Morgan EM Local Currency Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 17,134 | | | | | | — | | |
| Vanguard Emerging Markets Government Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 1,482 | | | | | | — | | |
| Vanguard Energy ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 325 | | | | | | — | | |
| Vanguard FTSE Emerging Markets ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 17,123 | | | | | | — | | |
| Vanguard FTSE Europe ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 23,705 | | | | | | — | | |
Vanguard Global ex-U.S. Real Estate
ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 5/03/2022 | | | | Monthly | | | | | (108,388) | | | | | | — | | |
| Vanguard Growth ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 2,827 | | | | | | — | | |
| Vanguard Intermediate-Term Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.63% | | | | | 5/03/2022 | | | | Monthly | | | | | (37,744) | | | | | | — | | |
| Vanguard Intermediate-Term Treasury ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 9,916 | | | | | | — | | |
| Vanguard Long-Term Treasury ETF | | | Morgan Stanley | | | 1-Day FEDEF - 1.38% | | | | | 5/03/2022 | | | | Monthly | | | | | (5,354) | | | | | | — | | |
| Vanguard Mega Cap Growth ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 508 | | | | | | — | | |
| Vanguard Real Estate ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.15% | | | | | 5/03/2022 | | | | Monthly | | | | | (36,419) | | | | | | — | | |
| Vanguard Russell 1000 Growth ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 230 | | | | | | — | | |
| Vanguard Short-Term Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 23,663 | | | | | | — | | |
Xtrackers USD High Yield Corporate
Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 2,588 | | | | | | — | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | $ | — | | |
| |
At October 31, 2021 there was no collateral held or posted. The Fund either receives fees from, or pays to the counterparty, the total return of the benchmark and the agreed-upon financing rate.
(d)
Portfolio pays or receives the floating rate and receives or pays the total return of the reference rate entity.
(e)
Reflects the value at reset date of October 31, 2021.
Abbreviation
FEDEF — Federal Funds Effective Rate
See notes to financial statements.
Schedule of Investments — IQ Hedge Macro Tracker ETF (continued)
October 31, 2021 (unaudited)
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investments in Securities:(f) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Exchange Traded Vehicles | | | | $ | 363,625 | | | | | $ | — | | | | | $ | — | | | | | $ | 363,625 | | |
| Investment Companies | | | | | 3,865,529 | | | | | | — | | | | | | — | | | | | | 3,865,529 | | |
| Short-Term Investments: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Money Market Funds | | | | | 267,468 | | | | | | — | | | | | | — | | | | | | 267,468 | | |
| Total Investments in Securities | | | | | 4,496,622 | | | | | | — | | | | | | — | | | | | | 4,496,622 | | |
| Other Financial Instruments:(g) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Swap Contracts | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Total Investments in Securities and Other Financial Instruments | | | | $ | 4,496,622 | | | | | $ | — | | | | | $ | — | | | | | $ | 4,496,622 | | |
| Liability Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Other Financial Instruments:(g) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Swap Contracts | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
(f)
For a complete listing of investments and their industries, see the Schedule of Investments.
(g)
Reflects the unrealized appreciation (depreciation) of the instruments.
For the period ended October 31, 2021, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 2)
A summary of the Fund’s transactions with affiliated fund during the period ended October 31, 2021 is as follows:
Affiliated Holdings
| | | | Shares at
04/30/2021 | | | Value
($) at
04/30/2021 | | | Purchases
Cost
($) | | | Sales
Proceeds
($) | | | Net
Realized
Gain/
(Loss)
($) | | | Net
Change in
Unrealized
Appreciation/
(Depreciation)
($) | | | Income
Distributions
($) | | | Capital
Gain
Distributions
($) | | | Shares at
10/31/2021 | | | Value
($) at
10/31/2021 | |
IQ Ultra
Short
Duration
ETF | | | | | 15,621 | | | | | | 774,958 | | | | | | 417,543 | | | | | | (76,603) | | | | | | (214) | | | | | | (4,494) | | | | | | 4,809 | | | | | | — | | | | | | 22,493 | | | | | | 1,111,190 | | |
For more information on the determination, please refer to Note 6.
See notes to financial statements.
Schedule of Investments — IQ Hedge Market Neutral Tracker ETF
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Investment Companies — 100.0% | |
| Bank Loan Funds — 19.6% | | |
Invesco Senior Loan ETF(a) | | | | | 72,166 | | | | | $ | 1,593,425 | | |
| SPDR Blackstone Senior Loan ETF | | | | | 40,695 | | | | | | 1,867,901 | | |
| Total Bank Loan Funds | | | | | | | | | | | 3,461,326 | | |
| Convertible Bond Funds — 0.7% | | |
| iShares Convertible Bond ETF | | | | | 231 | | | | | | 23,660 | | |
| SPDR Bloomberg Barclays Convertible Securities ETF | | | | | 1,063 | | | | | | 93,523 | | |
| Total Convertible Bond Funds | | | | | | | | | | | 117,183 | | |
| Emerging Bonds — Local Currency Funds — 0.3% | | |
| SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | | | | | 574 | | | | | | 14,287 | | |
VanEck J. P. Morgan EM Local Currency
Bond ETF | | | | | 1,278 | | | | | | 37,624 | | |
| Total Emerging Bonds — Local Currency Funds | | | | | | | | | | | 51,911 | | |
| Emerging Equity Funds — 1.2% | |
iShares Core MSCI Emerging Markets
ETF | | | | | 1,693 | | | | | | 105,694 | | |
| Vanguard FTSE Emerging Markets ETF | | | | | 2,107 | | | | | | 106,740 | | |
| Total Emerging Equity Funds | | | | | | | | | | | 212,434 | | |
| Floating Rate — Investment Grade Funds — 2.1% | |
| iShares Floating Rate Bond ETF | | | | | 5,224 | | | | | | 265,327 | | |
| SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | | | | | 3,178 | | | | | | 97,374 | | |
Total Floating Rate — Investment
Grade Funds | | | | | | | | | | | 362,701 | | |
| High Yield Corporate Bond Funds — 2.0% | |
| iShares 0-5 Year High Yield Corporate Bond ETF | | | | | 4,179 | | | | | | 190,354 | | |
| SPDR Bloomberg Barclays Short Term High Yield Bond ETF | | | | | 6,169 | | | | | | 168,475 | | |
Total High Yield Corporate Bond
Funds | | | | | | | | | | | 358,829 | | |
| International Bond Fund — 10.5% | |
| SPDR Bloomberg Barclays International Treasury Bond ETF | | | | | 65,067 | | | | | | 1,859,615 | | |
| International Small Cap Equity Funds — 5.8% | |
| Schwab International Small-Cap Equity ETF | | | | | 6,653 | | | | | | 285,746 | | |
| Vanguard FTSE All World ex-U.S. Small-Cap ETF | | | | | 5,381 | | | | | | 742,471 | | |
| Total International Small Cap Equity Funds | | | | | | | | | | | 1,028,217 | | |
| Investment Grade Corporate Bond Funds — 3.5% | |
| iShares Broad USD Investment Grade Corporate Bond ETF | | | | | 723 | | | | | | 43,547 | | |
iShares iBoxx $ Investment Grade Corporate Bond ETF(a) | | | | | 2,017 | | | | | | 269,229 | | |
| | | | Shares | | | Value | |
| Investment Companies (continued) | |
| Investment Grade Corporate Bond Funds (continued) | |
Vanguard Intermediate-Term Corporate
Bond ETF | | | | | 3,225 | | | | | $ | 302,795 | | |
| Total Investment Grade Corporate Bond Funds | | | | | | | | | | | 615,571 | | |
| Mortgage Backed Securities Funds — 6.2% | |
| iShares MBS ETF | | | | | 5,682 | | | | | | 612,690 | | |
SPDR Portfolio Mortgage Backed Bond ETF(a) | | | | | 3,936 | | | | | | 100,486 | | |
| Vanguard Mortgage-Backed Securities ETF | | | | | 7,000 | | | | | | 371,770 | | |
Total Mortgage Backed Securities
Funds | | | | | | | | | | | 1,084,946 | | |
| Municipal Bond Fund — 1.5% | |
VanEck High Yield Muni ETF(a) | | | | | 4,364 | | | | | | 270,961 | | |
| U.S. Medium Term Treasury Bond Funds — 8.3% | |
| iShares 3-7 Year Treasury Bond ETF | | | | | 5,435 | | | | | | 701,386 | | |
Schwab Intermediate-Term U.S. Treasury
ETF | | | | | 4,386 | | | | | | 246,581 | | |
Vanguard Intermediate-Term Treasury
ETF | | | | | 7,806 | | | | | | 523,002 | | |
Total U.S. Medium Term Treasury Bond
Funds | | | | | | | | | | | 1,470,969 | | |
| U.S. Momentum Fund — 0.1% | |
iShares MSCI USA Momentum
Factor ETF | | | | | 44 | | | | | | 8,390 | | |
| U.S. Ultra Short Term Bond Funds — 38.2% | |
| Invesco Treasury Collateral ETF | | | | | 179 | | | | | | 18,914 | | |
IQ Ultra Short Duration ETF† | | | | | 135,902 | | | | | | 6,713,776 | | |
Total U.S. Ultra Short Term Bond
Funds | | | | | | | | | | | 6,732,690 | | |
Total Investment Companies
(Cost $17,612,775) | | | | | | | | | | | 17,635,743 | | |
| Short-Term Investments — 4.5% | |
| Money Market Funds — 4.5% | |
Dreyfus Government Cash Management
Fund, Institutional Shares, 0.03%(b)(c) | | | | | 755,685 | | | | | | 755,685 | | |
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 0.01%(b) | | | | | 37,419 | | | | | | 37,419 | | |
Total Short-Term Investments
(Cost $793,104) | | | | | | | | | | | 793,104 | | |
Total Investments — 104.5%
(Cost $18,405,879) | | | | | | | | | | | 18,428,847 | | |
Other Assets and Liabilities,
Net — (4.5)% | | | | | | | | | | | (798,071) | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 17,630,776 | | |
| |
†
Affiliated Fund.
See notes to financial statements.
Schedule of Investments — IQ Hedge Market Neutral Tracker ETF (continued)
October 31, 2021 (unaudited)
(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 $1,003,642; total market value of collateral held by the Fund was $1,025,182. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $269,497.
(b)
Reflects the 1-day yield at October 31, 2021.
(c)
Represents security purchased with cash collateral received for securities on loan.
Total Return Swap contracts outstanding at October 31, 2021:
| Total Return Benchmark | | | Counterparty | | | Floating
Rate(d) | | | Expiration
Date | | | Payment
Frequency | | | Notional
Amount
Long/
(Short) | | | Value/
Unrealized
Appreciation/
(Depreciation)(e) | |
| Invesco DB U.S. Dollar Index Bullish Fund | | | Morgan Stanley | | | 1-Day FEDEF - 4.08% | | | | | 5/03/2022 | | | | Monthly | | | | $ | (382,007) | | | | | $ | — | | |
| Invesco KBW Bank ETF | | | Morgan Stanley | | | 1-Day FEDEF - 3.68% | | | | | 5/03/2022 | | | | Monthly | | | | | (53,494) | | | | | | — | | |
| Invesco Preferred ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.63% | | | | | 5/03/2022 | | | | Monthly | | | | | (70,861) | | | | | | — | | |
| Invesco Senior Loan ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 159,925 | | | | | | — | | |
| Invesco Treasury Collateral ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 1,902 | | | | | | — | | |
| IQ Ultra Short Duration ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 673,838 | | | | | | — | | |
| iShares 0-5 Year High Yield Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 19,086 | | | | | | — | | |
| iShares 3-7 Year Treasury Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 70,332 | | | | | | — | | |
iShares Broad USD Investment Grade
Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 4,397 | | | | | | — | | |
| iShares Convertible Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 2,356 | | | | | | — | | |
| iShares Core MSCI Emerging Markets ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 10,613 | | | | | | — | | |
| iShares Core S&P U.S. Value ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.68% | | | | | 5/03/2022 | | | | Monthly | | | | | (34,373) | | | | | | — | | |
| iShares Floating Rate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 26,614 | | | | | | — | | |
| iShares iBoxx $ Investment Grade Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 26,963 | | | | | | — | | |
| iShares iBoxx High Yield Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF - 2.78% | | | | | 5/03/2022 | | | | Monthly | | | | | (142,739) | | | | | | — | | |
| iShares MBS ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 61,463 | | | | | | — | | |
| iShares MSCI USA Momentum Factor ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 763 | | | | | | — | | |
| iShares Preferred & Income Securities ETF | | | Morgan Stanley | | | 1-Day FEDEF - 1.48% | | | | | 5/03/2022 | | | | Monthly | | | | | (193,189) | | | | | | — | | |
| iShares Russell 2000 Value ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 5/03/2022 | | | | Monthly | | | | | (38,101) | | | | | | — | | |
| iShares S&P Small-Cap 600 Value ETF | | | Morgan Stanley | | | 1-Day FEDEF - 2.63% | | | | | 5/03/2022 | | | | Monthly | | | | | (21,124) | | | | | | — | | |
| iShares TIPS Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 5/03/2022 | | | | Monthly | | | | | (165,470) | | | | | | — | | |
| Schwab Intermediate-Term U.S. Treasury ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 24,737 | | | | | | — | | |
| Schwab International Small-Cap Equity ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 28,691 | | | | | | — | | |
| Schwab U.S. Large-Cap Value ETF | | | Morgan Stanley | | | 1-Day FEDEF - 1.13% | | | | | 5/03/2022 | | | | Monthly | | | | | (31,688) | | | | | | — | | |
| Schwab U.S. TIPS ETF | | | Morgan Stanley | | | 1-Day FEDEF - 1.48% | | | | | 5/03/2022 | | | | Monthly | | | | | (97,430) | | | | | | — | | |
| SPDR Blackstone Senior Loan ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 187,456 | | | | | | — | | |
| SPDR Bloomberg Barclays Convertible Securities ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 9,414 | | | | | | — | | |
SPDR Bloomberg Barclays Emerging
Markets Local Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 1,444 | | | | | | — | | |
SPDR Bloomberg Barclays High Yield
Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF - 3.03% | | | | | 5/03/2022 | | | | Monthly | | | | | (66,475) | | | | | | — | | |
| SPDR Bloomberg Barclays International Treasury Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 186,627 | | | | | | — | | |
| SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 9,774 | | | | | | — | | |
SPDR Bloomberg Barclays Short Term
High Yield Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 16,905 | | | | | | — | | |
| SPDR Portfolio Mortgage Backed Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 10,084 | | | | | | — | | |
See notes to financial statements.
Schedule of Investments — IQ Hedge Market Neutral Tracker ETF (continued)
October 31, 2021 (unaudited)
| Total Return Benchmark | | | Counterparty | | | Floating
Rate(d) | | | Expiration
Date | | | Payment
Frequency | | | Notional
Amount
Long/
(Short) | | | Value/
Unrealized
Appreciation/
(Depreciation)(e) | |
| SPDR Portfolio S&P 500 Value ETF | | | Morgan Stanley | | | 1-Day FEDEF - 1.28% | | | | | 5/03/2022 | | | | Monthly | | | | $ | (40,464) | | | | | $ | — | | |
| SPDR S&P Bank ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.58% | | | | | 5/03/2022 | | | | Monthly | | | | | (52,905) | | | | | | — | | |
| VanEck High Yield Muni ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 27,195 | | | | | | — | | |
| VanEck J. P. Morgan EM Local Currency Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 3,768 | | | | | | — | | |
| Vanguard FTSE All World ex-U.S. Small-Cap ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 74,509 | | | | | | — | | |
| Vanguard FTSE Emerging Markets ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 10,689 | | | | | | — | | |
| Vanguard Intermediate-Term Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 30,420 | | | | | | — | | |
| Vanguard Intermediate-Term Treasury ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 52,461 | | | | | | — | | |
| Vanguard Mortgage-Backed Securities ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/05/2023 | | | | Monthly | | | | | 37,336 | | | | | | — | | |
| Vanguard Russell 1000 Value | | | Morgan Stanley | | | 1-Day FEDEF - 0.93% | | | | | 5/03/2022 | | | | Monthly | | | | | (21,013) | | | | | | — | | |
| Vanguard Small-Cap Value ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 5/03/2022 | | | | Monthly | | | | | (60,701) | | | | | | — | | |
| Vanguard Value ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 5/03/2022 | | | | Monthly | | | | | (275,488) | | | | | | — | | |
Xtrackers USD High Yield Corporate
Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF - 1.08% | | | | | 5/03/2022 | | | | Monthly | | | | | (50,173) | | | | | | — | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | $ | — | | |
| |
At October 31, 2021 there was no collateral held or posted. The Fund either receives fees from, or pays to the counterparty, the total return of the benchmark and the agreed-upon financing rate.
(d) Portfolio pays or receives the floating rate and receives or pays the total return of the reference rate entity.
(e) Reflects the value at reset date of October 31, 2021.
Abbreviation
FEDEF — Federal Funds Effective Rate
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investments in Securities:(f) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investment Companies | | | | $ | 17,635,743 | | | | | $ | — | | | | | $ | — | | | | | $ | 17,635,743 | | |
| Short-Term Investments: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Money Market Funds | | | | | 793,104 | | | | | | — | | | | | | — | | | | | | 793,104 | | |
| Total Investments in Securities | | | | | 18,428,847 | | | | | | — | | | | | | — | | | | | | 18,428,847 | | |
| Other Financial Instruments:(g) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Swap Contracts | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Total Investments in Securities and Other Financial Instruments | | | | $ | 18,428,847 | | | | | $ | — | | | | | $ | — | | | | | $ | 18,428,847 | | |
| Liability Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Other Financial Instruments:(g) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Swap Contracts | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
(f)
For a complete listing of investments and their industries, see the Schedule of Investments.
(g)
Reflects the unrealized appreciation (depreciation) of the instruments.
For the period ended October 31, 2021,the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 2)
See notes to financial statements.
Schedule of Investments — IQ Hedge Market Neutral Tracker ETF (continued)
October 31, 2021 (unaudited)
A summary of the Fund’s transactions with affiliated fund during the period ended October 31, 2021 is as follows:
Affiliated Holdings
| | | | Shares at
04/30/2021 | | | Value
($) at
04/30/2021 | | | Purchases
Cost
($) | | | Sales
Proceeds
($) | | | Net
Realized
Gain/
(Loss)
($) | | | Net
Change in
Unrealized
Appreciation/
(Depreciation)
($) | | | Income
Distributions
($) | | | Capital
Gain
Distributions
($) | | | Shares at
10/31/2021 | | | Value
($) at
10/31/2021 | |
IQ Ultra
Short
Duration
ETF | | | | | 87,410 | | | | | | 4,336,410 | | | | | | 2,671,240 | | | | | | (266,142) | | | | | | (1,372) | | | | | | (26,360) | | | | | | 28,617 | | | | | | — | | | | | | 135,902 | | | | | | 6,713,776 | | |
For more information on the determination, please refer to Note 6.
See notes to financial statements.
Schedule of Investments — IQ Hedge Long/Short Tracker ETF
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Exchange Traded Note — 1.0% | |
| Volatility Note — 1.0% | |
iPath Series B S&P 500 VIX Short-Term Futures ETN* | | | | | | | | | | | | | |
| (Cost $302,683) | | | | | 8,671 | | | | | $ | 185,907 | | |
| Investment Companies — 99.3% | |
| Bank Loan Funds — 8.6% | |
| Invesco Senior Loan ETF | | | | | 32,535 | | | | | | 718,373 | | |
| SPDR Blackstone Senior Loan ETF | | | | | 18,348 | | | | | | 842,173 | | |
| Total Bank Loan Funds | | | | | | | | | | | 1,560,546 | | |
| International Equity Core Funds — 8.4% | |
| iShares Core MSCI EAFE ETF | | | | | 9,701 | | | | | | 742,223 | | |
| Vanguard FTSE Developed Markets ETF | | | | | 14,882 | | | | | | 775,650 | | |
| Total International Equity Core Funds | | | | | | | | | | | 1,517,873 | | |
| International Large Cap Growth Fund — 9.0% | |
iShares MSCI EAFE Growth ETF(a) | | | | | 14,687 | | | | | | 1,629,523 | | |
| International Small Cap Equity Funds — 17.8% | |
| Schwab International Small-Cap Equity ETF | | | | | 20,899 | | | | | | 897,612 | | |
| Vanguard FTSE All World ex-U.S. Small-Cap ETF | | | | | 16,902 | | | | | | 2,332,138 | | |
| Total International Small Cap Equity Funds | | | | | | | | | | | 3,229,750 | | |
| Investment Grade Corporate Bond Funds — 21.5% | |
| iShares Broad USD Investment Grade Corporate Bond ETF | | | | | 4,589 | | | | | | 276,396 | | |
iShares iBoxx $ Investment Grade Corporate Bond ETF(a) | | | | | 12,794 | | | | | | 1,707,743 | | |
Vanguard Intermediate-Term Corporate
Bond ETF | | | | | 20,459 | | | | | | 1,920,896 | | |
| Total Investment Grade Corporate Bond Funds | | | | | | | | | | | 3,905,035 | | |
| U.S. Large Cap Core Funds — 18.4% | |
| Financial Select Sector SPDR Fund | | | | | 52,689 | | | | | | 2,121,259 | | |
Health Care Select Sector SPDR
Fund(a) | | | | | 925 | | | | | | 123,783 | | |
| Technology Select Sector SPDR Fund | | | | | 1,929 | | | | | | 311,591 | | |
| Vanguard Financials ETF | | | | | 5,661 | | | | | | 564,119 | | |
Vanguard Health Care ETF(a) | | | | | 513 | | | | | | 132,585 | | |
| Vanguard Information Technology ETF | | | | | 180 | | | | | | 78,149 | | |
| Total U.S. Large Cap Core Funds | | | | | | | | | | | 3,331,486 | | |
| U.S. Large Cap Growth Funds — 11.3% | |
| Schwab U.S. Large-Cap Growth ETF | | | | | 1,742 | | | | | | 280,915 | | |
Vanguard Growth ETF(a) | | | | | 4,586 | | | | | | 1,440,692 | | |
| | | | Shares | | | Value | |
| Investment Companies (continued) | |
| U.S. Large Cap Growth Funds (continued) | |
Vanguard Mega Cap Growth ETF(a) | | | | | 840 | | | | | $ | 213,477 | | |
| Vanguard Russell 1000 Growth ETF | | | | | 1,630 | | | | | | 124,858 | | |
| Total U.S. Large Cap Growth Funds | | | | | | | | | | | 2,059,942 | | |
| U.S. REITS Funds — 4.1% | |
| Fidelity MSCI Real Estate Index ETF | | | | | 921 | | | | | | 29,979 | | |
| iShares Core U.S. REIT ETF | | | | | 575 | | | | | | 36,265 | | |
Vanguard Real Estate ETF(a) | | | | | 6,152 | | | | | | 670,814 | | |
| Total U.S. REITS Funds | | | | | | | | | | | 737,058 | | |
| U.S. Ultra Short Term Bond Funds — 0.2% | |
| Invesco Treasury Collateral ETF | | | | | 1 | | | | | | 106 | | |
IQ Ultra Short Duration ETF† | | | | | 860 | | | | | | 42,485 | | |
Total U.S. Ultra Short Term Bond
Funds | | | | | | | | | | | 42,591 | | |
| Total Investment Companies | |
| (Cost $17,593,440) | | | | | | | | | | | 18,013,804 | | |
| Short-Term Investments — 15.7% | |
| Money Market Funds — 15.7% | |
Dreyfus Government Cash Management
Fund, Institutional Shares, 0.03%(b)(c) | | | | | 2,812,287 | | | | | | 2,812,287 | | |
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 0.01%(b) | | | | | 36,210 | | | | | | 36,210 | | |
| Total Short-Term Investments | | | |
| (Cost $2,848,497) | | | | | | | | | | | 2,848,497 | | |
| Total Investments — 116.0% | | | |
| (Cost $20,744,620) | | | | | | | | | | | 21,048,208 | | |
Other Assets and Liabilities,
Net — (16.0)% | | | | | | | | | | | (2,901,636) | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 18,146,572 | | |
| |
*
Non-income producing securities.
†
Affiliated Fund.
(a)
All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $5,017,207; total market value of collateral held by the Fund was $5,131,353. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $2,319,066.
(b)
Reflects the 1-day yield at October 31, 2021.
(c)
Represents security purchased with cash collateral received for securities on loan.
See notes to financial statements.
Schedule of Investments — IQ Hedge Long/Short Tracker ETF (continued)
October 31, 2021 (unaudited)
Total Return Swap contracts outstanding at October 31, 2021:
| Total Return Benchmark | | | Counterparty | | | Floating
Rate(d) | | | Expiration
Date | | | Payment
Frequency | | | Notional
Amount
Long/
(Short) | | | Value/
Unrealized
Appreciation/
(Depreciation)(e) | |
| Consumer Discretionary Select Sector SPDR Fund | | | Morgan Stanley | | | 1-Day FEDEF - 0.05% | | | | | 3/30/2022 | | | | Monthly | | | | $ | (446,553) | | | | | $ | — | | |
| Energy Select Sector SPDR Fund | | | Morgan Stanley | | | 1-Day FEDEF - 0.10% | | | | | 3/30/2022 | | | | Monthly | | | | | (80,688) | | | | | | — | | |
Fidelity MSCI Real Estate Index
ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 2,930 | | | | | | — | | |
Financial Select Sector SPDR
Fund | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 207,661 | | | | | | — | | |
| Health Care Select Sector SPDR Fund | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 12,178 | | | | | | — | | |
| Invesco Senior Loan ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 70,325 | | | | | | — | | |
| iPath Series B S&P 500 VIX Short-Term Futures ETN | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 18,203 | | | | | | — | | |
| IQ Ultra Short Duration ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 4,150 | | | | | | — | | |
| iShares Broad USD Investment Grade Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 27,043 | | | | | | — | | |
| iShares Core MSCI EAFE ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 72,685 | | | | | | — | | |
| iShares Core U.S. REIT ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 3,532 | | | | | | — | | |
| iShares iBoxx $ Investment Grade Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 167,117 | | | | | | — | | |
| iShares MSCI EAFE Growth ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 159,546 | | | | | | — | | |
| iShares MSCI USA Momentum Factor ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 3/30/2022 | | | | Monthly | | | | | (574,900) | | | | | | — | | |
| iShares Russell 2000 Growth ETF | | | Morgan Stanley | | | 1-Day FEDEF - 3.02% | | | | | 3/30/2022 | | | | Monthly | | | | | (192,752) | | | | | | — | | |
iShares S&P Small-Cap 600 Growth
ETF | | | Morgan Stanley | | | 1-Day FEDEF - 5.87% | | | | | 3/30/2022 | | | | Monthly | | | | | (100,955) | | | | | | — | | |
| Schwab International Small-Cap Equity ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 87,876 | | | | | | — | | |
| Schwab U.S. Large-Cap Growth ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 27,575 | | | | | | — | | |
SPDR Blackstone Senior Loan
ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 82,436 | | | | | | — | | |
| Technology Select Sector SPDR Fund | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 30,529 | | | | | | — | | |
Vanguard Consumer Discretionary
ETF | | | Morgan Stanley | | | 1-Day FEDEF - 3.21% | | | | | 3/30/2022 | | | | Monthly | | | | | (143,317) | | | | | | — | | |
| Vanguard Energy ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 3/30/2022 | | | | Monthly | | | | | (16,569) | | | | | | — | | |
| Vanguard Financials ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 55,206 | | | | | | — | | |
| Vanguard FTSE All World ex-U.S. Small-Cap ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 228,357 | | | | | | — | | |
| Vanguard FTSE Developed Markets ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 75,939 | | | | | | — | | |
| Vanguard Growth ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 141,053 | | | | | | — | | |
| Vanguard Health Care ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 12,923 | | | | | | — | | |
Vanguard Information Technology
ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 7,815 | | | | | | — | | |
| Vanguard Intermediate-Term Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 188,062 | | | | | | — | | |
Vanguard Mega Cap Growth
ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 20,839 | | | | | | — | | |
| Vanguard Real Estate ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 65,642 | | | | | | — | | |
Vanguard Russell 1000 Growth
ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 3/30/2022 | | | | Monthly | | | | | 12,256 | | | | | | — | | |
Vanguard Small-Cap Growth
ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.83% | | | | | 3/30/2022 | | | | Monthly | | | | | (262,493) | | | | | | — | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | $ | — | | |
At October 31, 2021 there was no collateral held or posted. The Fund either receives fees from, or pays to the counterparty, the total return of the benchmark and the agreed-upon financing rate.
(d)
Portfolio pays or receives the floating rate and receives or pays the total return of the reference rate entity.
(e)
Reflects the value at reset date of October 31, 2021.
Abbreviations
FEDEF — Federal Funds Effective Rate
See notes to financial statements.
Schedule of Investments — IQ Hedge Long/Short Tracker ETF (continued)
October 31, 2021 (unaudited)
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investments in Securities:(f) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Exchange Traded Note | | | | $ | 185,907 | | | | | $ | — | | | | | $ | — | | | | | $ | 185,907 | | |
| Investment Companies | | | | | 18,013,804 | | | | | | — | | | | | | — | | | | | | 18,013,804 | | |
| Short-Term Investments: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Money Market Funds | | | | | 2,848,497 | | | | | | — | | | | | | — | | | | | | 2,848,497 | | |
| Total Investments in Securities | | | | | 21,048,208 | | | | | | — | | | | | | — | | | | | | 21,048,208 | | |
| Other Financial Instruments:(g) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Swap Contracts | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Total Investments in Securities and Other Financial Instruments | | | | $ | 21,048,208 | | | | | $ | — | | | | | $ | — | | | | | $ | 21,048,208 | | |
| Liability Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Other Financial Instruments:(g) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Swap Contracts | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
(f)
For a complete listing of investments and their industries, see the Schedule of Investments.
(g)
Reflects the unrealized appreciation (depreciation) of the instruments.
For the year ended October 31, 2021,the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 2)
A summary of the Fund’s transactions with affiliated fund during the period ended October 31, 2021 is as follows:
Affiliated Holdings
| | | | Shares at
04/30/2021 | | | Value
($) at
04/30/2021 | | | Purchases
Cost
($) | | | Sales
Proceeds
($) | | | Net
Realized
Gain/
(Loss)
($) | | | Net
Change in
Unrealized
Appreciation/
(Depreciation)
($) | | | Income
Distributions
($) | | | Capital
Gain
Distributions
($) | | | Shares at
10/31/2021 | | | Value
($) at
10/31/2021 | |
IQ Ultra
Short
Duration
ETF | | | | | 317 | | | | | | 15,726 | | | | | | 144,273 | | | | | | (117,302) | | | | | | (36) | | | | | | (176) | | | | | | 225 | | | | | | — | | | | | | 860 | | | | | | 42,485 | | |
For more information on the determination, please refer to Note 6.
See notes to financial statements.
Schedule of Investments — IQ Hedge Event-Driven Tracker ETF
October 31, 2021 (unaudited)
| | | | Shares | | | Value | | |
| Investment Companies — 99.8% | | |
| Bank Loan Funds — 24.2% | | |
| Invesco Senior Loan ETF | | | | | 96,683 | | | | | $ | 2,134,760 | | | |
| SPDR Blackstone Senior Loan ETF | | | | | 54,521 | | | | | | 2,502,514 | | | |
| Total Bank Loan Funds | | | | | | | | | | | 4,637,274 | | | |
| Convertible Bond Funds — 22.9% | | |
| iShares Convertible Bond ETF | | | | | 8,670 | | | | | | 888,025 | | | |
| SPDR Bloomberg Barclays Convertible Securities ETF | | | | | 39,963 | | | | | | 3,515,944 | | | |
| Total Convertible Bond Funds | | | | | | | | | | | 4,403,969 | | | |
| Investment Grade Corporate Bond Funds — 39.6% | | |
SPDR Portfolio Short Term Corporate Bond
ETF | | | | | 37,871 | | | | | | 1,178,167 | | | |
Vanguard Short-Term Corporate Bond
ETF | | | | | 78,358 | | | | | | 6,415,953 | | | |
| Total Investment Grade Corporate Bond Funds | | | | | | | | | | | 7,594,120 | | | | | |
| U.S. Preferred Funds — 4.8% | | |
Invesco Preferred ETF(a) | | | | | 16,488 | | | | | | 248,639 | | | |
iShares Preferred & Income Securities
ETF(a) | | | | | 17,216 | | | | | | 677,794 | | | |
| Total U.S. Preferred Funds | | | | | | | | | | | 926,433 | | | | | |
| U.S. Small Cap Growth Funds — 8.3% | | |
iShares Russell 2000 Growth ETF(a) | | | | | 1,792 | | | | | | 550,897 | | | |
iShares S&P Small-Cap 600 Growth
ETF(a) | | | | | 2,129 | | | | | | 288,501 | | | |
| | | | Shares | | | Value | |
| Investment Companies (continued) | |
| U.S. Small Cap Growth Funds (continued) | |
| Vanguard Small-Cap Growth ETF | | | | | 2,539 | | | | | $ | 750,528 | | |
| Total U.S. Small Cap Growth Funds | | | | | | | | | | | 1,589,926 | | |
Total Investment Companies
(Cost $18,840,243) | | | | | | | | | | | 19,151,722 | | |
| Short-Term Investments — 8.0% | |
| Money Market Funds — 8.0% | |
Dreyfus Government Cash Management
Fund, Institutional Shares, 0.03%(b)(c) | | | | | 1,500,341 | | | | | | 1,500,341 | | |
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 0.01%(b) | | | | | 35,295 | | | | | | 35,295 | | |
Total Short-Term Investments
(Cost $1,535,636) | | | | | | | | | | | 1,535,636 | | |
Total Investments — 107.8%
(Cost $20,375,879) | | | | | | | | | | | 20,687,358 | | |
Other Assets and Liabilities,
Net — (7.8)% | | | | | | | | | | | (1,500,687) | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 19,186,671 | | |
| |
(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 $1,468,714; total market value of collateral held by the Fund was $1,500,341.
(b)
Reflects the 1-day yield at October 31, 2021.
(c)
Represents security purchased with cash collateral received for securities on loan.
Total Return Swap contracts outstanding at October 31, 2021:
| Total Return Benchmark | | | Counterparty | | | Floating
Rate(d) | | | Expiration
Date | | | Payment
Frequency | | | Notional
Amount
Long/
(Short) | | | Value/
Unrealized
Appreciation/
(Depreciation)(e) | |
| Invesco Preferred ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/10/2023 | | | | Monthly | | | | $ | 5,429 | | | | | $ | — | | |
| Invesco Senior Loan ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/10/2023 | | | | Monthly | | | | | 46,589 | | | | | | — | | |
| iShares Convertible Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/10/2023 | | | | Monthly | | | | | 19,358 | | | | | | — | | |
iShares iBoxx High Yield Corporate
Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF - 3.02% | | | | | 7/10/2023 | | | | Monthly | | | | | (227,409) | | | | | | — | | |
| iShares Preferred & Income Securities ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/10/2023 | | | | Monthly | | | | | 14,803 | | | | | | — | | |
| iShares Russell 2000 Growth ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/10/2023 | | | | Monthly | | | | | 11,989 | | | | | | — | | |
iShares S&P Small-Cap 600 Growth
ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/10/2023 | | | | Monthly | | | | | 6,233 | | | | | | — | | |
SPDR Blackstone Senior Loan
ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/10/2023 | | | | Monthly | | | | | 54,621 | | | | | | — | | |
| SPDR Bloomberg Barclays Convertible Securities ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/10/2023 | | | | Monthly | | | | | 76,719 | | | | | | — | | |
| SPDR Bloomberg Barclays High Yield Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF - 2.59% | | | | | 7/10/2023 | | | | Monthly | | | | | (105,905) | | | | | | — | | |
| SPDR Portfolio Short Term Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/10/2023 | | | | Monthly | | | | | 25,697 | | | | | | — | | |
| Vanguard Short-Term Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/10/2023 | | | | Monthly | | | | | 140,015 | | | | | | — | | |
See notes to financial statements.
Schedule of Investments — IQ Hedge Event-Driven Tracker ETF (continued)
October 31, 2021 (unaudited)
| Total Return Benchmark | | | Counterparty | | | Floating
Rate(d) | | | Expiration
Date | | | Payment
Frequency | | | Notional
Amount
Long/
(Short) | | | Value/
Unrealized
Appreciation/
(Depreciation)(e) | |
Vanguard Small-Cap Growth
ETF | | | Morgan Stanley | | | 1-Day FEDEF + 0.50% | | | | | 7/10/2023 | | | | Monthly | | | | $ | 16,258 | | | | | $ | — | | |
| Xtrackers USD High Yield Corporate Bond ETF | | | Morgan Stanley | | | 1-Day FEDEF - 1.22% | | | | | 7/10/2023 | | | | Monthly | | | | | (79,919) | | | | | | — | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | $ | — | | |
| |
At October 31, 2021 there was no collateral held or posted. The Fund either receives fees from, or pays to the counterparty, the total return of the benchmark and the agreed-upon financing rate.
(d)
Portfolio pays or receives the floating rate and receives or pays the total return of the reference rate entity.
(e)
Reflects the value at reset date of October 31, 2021.
Abbreviations
FEDEF — Federal Funds Effective Rate
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investments in Securities:(f) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investment Companies | | | | $ | 19,151,722 | | | | | $ | — | | | | | $ | — | | | | | $ | 19,151,722 | | |
| Short-Term Investments: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Money Market Funds | | | | | 1,535,636 | | | | | | — | | | | | | — | | | | | | 1,535,636 | | |
| Total Investments in Securities | | | | | 20,687,358 | | | | | | — | | | | | | — | | | | | | 20,687,358 | | |
| Other Financial Instruments:(g) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Swap Contracts | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Total Investments in Securities and Other Financial Instruments | | | | $ | 20,687,358 | | | | | $ | — | | | | | $ | — | | | | | $ | 20,687,358 | | |
| Liability Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Other Financial Instruments:(g) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Swap Contracts | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
(f)
For a complete listing of investments and their industries, see the Schedule of Investments.
(g)
Reflects the unrealized appreciation (depreciation) of the instruments.
For the period ended October 31, 2021,the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 2)
A summary of the Fund’s transactions with affiliated fund during the period ended October 31, 2021 is as follows:
Affiliated Holdings
| | | | Shares at
04/30/2021 | | | Value
($) at
04/30/2021 | | | Purchases
Cost
($) | | | Sales
Proceeds
($) | | | Net
Realized
Gain/
(Loss)
($) | | | Net
Change in
Unrealized
Appreciation/
(Depreciation)
($) | | | Income
Distributions
($) | | | Capital
Gain
Distributions
($) | | | Shares at
10/31/2021 | | | Value
($) at
10/31/2021 | |
IQ Ultra
Short
Duration
ETF | | | | | 221 | | | | | | 10,964 | | | | | | 6,090 | | | | | | (17,040) | | | | | | 2 | | | | | | (16) | | | | | | 14 | | | | | | — | | | | | | — | | | | | | — | | |
For more information on the determination, please refer to Note 6.
See notes to financial statements.
Schedule of Investments — IQ Real Return ETF
October 31, 2021 (unaudited)
| | | | Shares | | | Value | | | |
| Exchange Traded Vehicles — 10.0% | | | |
| Japanese Yen Fund — 7.8% | | | |
Invesco CurrencyShares Japanese Yen Trust* | | | | | 52,106 | | | | | $ | 4,296,661 | | | | |
| Oil Fund — 2.2% | | | | | | | |
Invesco DB Oil Fund*(a) | | | | | 80,898 | | | | | | 1,223,986 | | | | |
Total Exchange Traded Vehicles
(Cost $5,422,764) | | | | | | | | | | | 5,520,647 | | | | |
| Investment Companies — 90.0% | | | |
| Emerging Equity Funds — 2.7% | | | |
iShares MSCI Emerging Markets ETF(a) | | | | | 8,007 | | | | | | 407,716 | | | | |
| Vanguard FTSE Emerging Markets ETF | | | | | 21,315 | | | | | | 1,079,818 | | | | |
| Total Emerging Equity Funds | | | | | | | | | | | 1,487,534 | | | | |
| U.S. Large Cap Core Funds — 10.0% | | | |
| iShares Core S&P 500 ETF | | | | | 5,095 | | | | | | 2,348,744 | | | | |
| SPDR S&P 500 ETF Trust | | | | | 6,885 | | | | | | 3,161,936 | | | | |
| Total U.S. Large Cap Core Funds | | | | | | | | | | | 5,510,680 | | | | |
| U.S. Long Term Treasury Bond Fund — 2.5% | | | |
iShares 20+ Year Treasury Bond ETF(a) | | | | | 9,540 | | | | | | 1,408,963 | | | | |
| U.S. Medium Term Treasury Bond Funds — 7.4% | | | |
| iShares 3-7 Year Treasury Bond ETF | | | | | 10,590 | | | | | | 1,366,640 | | | | |
iShares 7-10 Year Treasury Bond ETF(a) | | | | | 23,951 | | | | | | 2,745,503 | | | | |
Total U.S. Medium Term Treasury Bond
Funds | | | | | | | | | | | 4,112,143 | | | | |
| U.S. Ultra Short Term Bond Funds — 67.4% | | | |
Goldman Sachs Access Treasury 0-1 Year
ETF*(a) | | | | | 15,578 | | | | | | 1,558,735 | | | | |
| Invesco Treasury Collateral ETF | | | | | 5,216 | | | | | | 551,149 | | | | |
IQ Ultra Short Duration ETF† | | | | | 277,818 | | | | | | 13,724,654 | | | | |
| | | | Shares | | | Value | |
| Investment Companies (continued) | |
| U.S. Ultra Short Term Bond Funds (continued) | |
iShares Short Treasury Bond ETF(a) | | | | | 101,133 | | | | | $ | 11,169,128 | | |
SPDR Bloomberg Barclays 1-3 Month T-Bill
ETF(a) | | | | | 112,036 | | | | | | 10,245,692 | | |
Total U.S. Ultra Short Term Bond
Funds | | | | | | | | | | | 37,249,358 | | |
Total Investment Companies
(Cost $49,324,853) | | | | | | | | | | | 49,768,678 | | |
| Short-Term Investment — 19.3% | |
| Money Market Fund — 19.3% | |
Dreyfus Government Cash Management Fund, Institutional Shares, 0.03%(b)(c)
(Cost $10,655,988) | | | | | 10,655,988 | | | | | | 10,655,988 | | |
Total Investments — 119.3%
(Cost $65,403,605) | | | | | | | | | | | 65,945,313 | | |
Other Assets and Liabilities,
Net — (19.3)% | | | | | | | | | | | (10,663,231) | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 55,282,082 | | |
| |
*
Non-income producing securities.
†
Affiliated Fund.
(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 $16,001,121; total market value of collateral held by the Fund was $16,343,513. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $5,687,525.
(b)
Reflects the 1-day yield at October 31, 2021.
(c)
Represents security purchased with cash collateral received for securities on loan.
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investments in Securities:(d) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Exchange Traded Vehicles | | | | $ | 5,520,647 | | | | | $ | — | | | | | $ | — | | | | | $ | 5,520,647 | | |
| Investment Companies | | | | | 49,768,678 | | | | | | — | | | | | | — | | | | | | 49,768,678 | | |
| Short-Term Investment: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Money Market Fund | | | | | 10,655,988 | | | | | | — | | | | | | — | | | | | | 10,655,988 | | |
| Total Investments in Securities | | | | $ | 65,945,313 | | | | | $ | — | | | | | $ | — | | | | | $ | 65,945,313 | | |
(d)
For a complete listing of investments and their industries, see the Schedule of Investments.
For the period ended October 31, 2021, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 2)
See notes to financial statements.
Schedule of Investments — IQ Real Return ETF (continued)
October 31, 2021 (unaudited)
A summary of the Fund’s transactions with affiliated fund during the period ended October 31, 2021 is as follows:
Affiliated Holdings
| | | | Shares at
04/30/2021 | | | Value
($) at
04/30/2021 | | | Purchases
Cost
($) | | | Sales
Proceeds
($) | | | Net
Realized
Gain/
(Loss)
($) | | | Net
Change in
Unrealized
Appreciation/
(Depreciation)
($) | | | Income
Distributions
($) | | | Capital
Gain
Distributions
($) | | | Shares at
10/31/2021 | | | Value
($) at
10/31/2021 | |
IQ Ultra
Short
Duration
ETF | | | | | 267,499 | | | | | | 13,270,626 | | | | | | 511,219 | | | | | | — | | | | | | ��� — | | | | | | (57,191) | | | | | | 63,183 | | | | | | — | | | | | | 277,818 | | | | | | 13,724,654 | | |
For more information on the determination, please refer to Note 6.
See notes to financial statements.
Schedule of Investments — IQ S&P High Yield Low Volatility Bond ETF
October 31, 2021 (unaudited)
| | | | Principal
Amount | | | Value | |
| Long-Term Bonds 98.0% | |
| Corporate Bonds — 91.0% | |
| Consumer Discretionary — 12.9% | |
| Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC | | | | | | | | | | | | | |
| 3.250%, due 3/15/26 | | | | $ | 41,000 | | | | | $ | 41,666 | | |
| 3.500%, due 2/15/23 | | | | | 103,000 | | | | | | 104,802 | | |
| 3.500%, due 3/15/29 | | | | | 79,000 | | | | | | 77,869 | | |
| 4.625%, due 1/15/27 | | | | | 105,000 | | | | | | 109,888 | | |
| 4.875%, due 2/15/30 | | | | | 61,000 | | | | | | 65,383 | | |
| 5.875%, due 2/15/28 | | | | | 64,000 | | | | | | 68,000 | | |
| Allison Transmission, Inc. | | | | | | | | | | | | | |
| 3.750%, due 1/30/31 | | | | | 91,000 | | | | | | 87,474 | | |
| 5.875%, due 6/1/29 | | | | | 38,000 | | | | | | 40,897 | | |
| Bath & Body Works, Inc. | | | | | | | | | | | | | |
| 5.250%, due 2/1/28 | | | | | 72,000 | | | | | | 77,616 | | |
| 6.625%, due 10/1/30 | | | | | 40,000 | | | | | | 44,750 | | |
| 7.500%, due 6/15/29 | | | | | 46,000 | | | | | | 51,957 | | |
| Boyd Gaming Corp. | | | | | | | | | | | | | |
4.750%, due 12/1/27(a) | | | | | 71,000 | | | | | | 73,151 | | |
| 4.750%, due 6/15/31 | | | | | 31,000 | | | | | | 31,891 | | |
| 8.625%, due 6/1/25 | | | | | 44,000 | | | | | | 47,410 | | |
| Caesars Resort Collection LLC / CRC Finco, Inc. | | | | | | | | | | | | | |
| 5.750%, due 7/1/25 | | | | | 38,000 | | | | | | 39,928 | | |
| Carnival Corp. | | | | | | | | | | | | | |
| 4.000%, due 8/1/28 | | | | | 210,000 | | | | | | 210,000 | | |
| Cedar Fair LP / Canada’s Wonderland Co. / Magnum Management Corp. / Millennium Op | | | | | | | | | | | | | |
| 5.500%, due 5/1/25 | | | | | 37,000 | | | | | | 38,387 | | |
| Churchill Downs, Inc. | | | | | | | | | | | | | |
| 4.750%, due 1/15/28 | | | | | 38,000 | | | | | | 39,282 | | |
| 5.500%, due 4/1/27 | | | | | 38,000 | | | | | | 39,282 | | |
| Clarios Global LP / Clarios US Finance Co. | | | | | | | | | | | | | |
| 6.250%, due 5/15/26 | | | | | 50,000 | | | | | | 52,313 | | |
| Ford Motor Co. | | | | | | | | | | | | | |
| 4.346%, due 12/8/26 | | | | | 81,000 | | | | | | 86,599 | | |
| 4.750%, due 1/15/43 | | | | | 41,000 | | | | | | 44,783 | | |
| 5.291%, due 12/8/46 | | | | | 70,000 | | | | | | 80,317 | | |
| 7.450%, due 7/16/31 | | | | | 60,000 | | | | | | 79,425 | | |
| 8.500%, due 4/21/23 | | | | | 98,000 | | | | | | 107,457 | | |
| 9.625%, due 4/22/30 | | | | | 57,000 | | | | | | 82,116 | | |
| Ford Motor Credit Co. LLC | | | | | | | | | | | | | |
| 3.087%, due 1/9/23 | | | | | 41,000 | | | | | | 41,705 | | |
| 3.096%, due 5/4/23 | | | | | 154,000 | | | | | | 156,503 | | |
| 3.370%, due 11/17/23 | | | | | 82,000 | | | | | | 84,153 | | |
| 4.063%, due 11/1/24 | | | | | 155,000 | | | | | | 162,549 | | |
| 4.271%, due 1/9/27 | | | | | 41,000 | | | | | | 43,513 | | |
| 4.375%, due 8/6/23 | | | | | 41,000 | | | | | | 42,640 | | |
| 5.113%, due 5/3/29 | | | | | 34,000 | | | | | | 37,783 | | |
| 5.125%, due 6/16/25 | | | | | 30,000 | | | | | | 32,550 | | |
| Gap, Inc. (The) | | | | | | | | | | | | | |
| 3.625%, due 10/1/29 | | | | | 88,000 | | | | | | 86,240 | | |
| Goodyear Tire & Rubber Co. (The) | | | | | | | | | | | | | |
| 4.875%, due 3/15/27 | | | | | 42,000 | | | | | | 44,667 | | |
| 9.500%, due 5/31/25 | | | | | 74,000 | | | | | | 80,651 | | |
| Hanesbrands, Inc. | | | | | | | | | | | | | |
| 5.375%, due 5/15/25 | | | | | 32,000 | | | | | | 33,280 | | |
| | | | Principal
Amount | | | Value | |
| Corporate Bonds (continued) | |
| Consumer Discretionary (continued) | |
| Hilton Domestic Operating Co., Inc. | | | | | | | | | | | | | |
| 3.625%, due 2/15/32 | | | | $ | 135,000 | | | | | $ | 131,707 | | |
| 3.750%, due 5/1/29 | | | | | 45,000 | | | | | | 45,000 | | |
| 4.000%, due 5/1/31 | | | | | 75,000 | | | | | | 75,359 | | |
| 4.875%, due 1/15/30 | | | | | 70,000 | | | | | | 74,724 | | |
| 5.375%, due 5/1/25 | | | | | 31,000 | | | | | | 32,316 | | |
| 5.750%, due 5/1/28 | | | | | 31,000 | | | | | | 33,286 | | |
| Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp. | | | | | | | | | | | | | |
| 4.875%, due 4/1/27 | | | | | 31,000 | | | | | | 32,085 | | |
| International Game Technology PLC | | | | | | | | | | | | | |
| 5.250%, due 1/15/29 | | | | | 47,000 | | | | | | 49,409 | | |
| 6.250%, due 1/15/27 | | | | | 83,000 | | | | | | 93,375 | | |
| 6.500%, due 2/15/25 | | | | | 74,000 | | | | | | 82,140 | | |
| IRB Holding Corp. | | | | | | | | | | | | | |
| 7.000%, due 6/15/25 | | | | | 30,000 | | | | | | 31,688 | | |
| KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC | | | | | | | | | | | | | |
| 4.750%, due 6/1/27 | | | | | 56,000 | | | | | | 57,960 | | |
| Lithia Motors, Inc. | | | | | | | | | | | | | |
| 4.375%, due 1/15/31 | | | | | 65,000 | | | | | | 69,219 | | |
| Macy’s Retail Holdings LLC | | | | | | | | | | | | | |
5.875%, due 4/1/29(a) | | | | | 30,000 | | | | | | 31,971 | | |
| MGM Resorts International | | | | | | | | | | | | | |
| 4.750%, due 10/15/28 | | | | | 38,000 | | | | | | 39,499 | | |
| 5.500%, due 4/15/27 | | | | | 75,000 | | | | | | 80,813 | | |
| 6.000%, due 3/15/23 | | | | | 98,000 | | | | | | 103,412 | | |
| Murphy Oil USA, Inc. | | | | | | | | | | | | | |
| 4.750%, due 9/15/29 | | | | | 74,000 | | | | | | 77,955 | | |
| Nordstrom, Inc. | | | | | | | | | | | | | |
| 4.375%, due 4/1/30 | | | | | 55,000 | | | | | | 55,960 | | |
| Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | | | | | | | | | | | | | |
| 7.500%, due 6/1/25 | | | | | 30,000 | | | | | | 31,878 | | |
| Penske Automotive Group, Inc. | | | | | | | | | | | | | |
| 3.500%, due 9/1/25 | | | | | 55,000 | | | | | | 56,513 | | |
| PetSmart, Inc. / PetSmart Finance Corp. | | | | | | | | | | | | | |
| 4.750%, due 2/15/28 | | | | | 106,000 | | | | | | 108,915 | | |
| QVC, Inc. | | | | | | | | | | | | | |
| 4.375%, due 9/1/28 | | | | | 66,000 | | | | | | 67,485 | | |
| 4.750%, due 2/15/27 | | | | | 38,000 | | | | | | 39,781 | | |
| Royal Caribbean Cruises Ltd. | | | | | | | | | | | | | |
| 9.125%, due 6/15/23 | | | | | 30,000 | | | | | | 32,573 | | |
| 10.875%, due 6/1/23 | | | | | 108,000 | | | | | | 120,825 | | |
| 11.500%, due 6/1/25 | | | | | 139,000 | | | | | | 158,199 | | |
| Six Flags Theme Parks, Inc. | | | | | | | | | | | | | |
| 7.000%, due 7/1/25 | | | | | 30,000 | | | | | | 31,875 | | |
| Travel + Leisure Co. | | | | | | | | | | | | | |
| 6.625%, due 7/31/26 | | | | | 30,000 | | | | | | 33,500 | | |
| William Carter Co. (The) | | | | | | | | | | | | | |
| 5.500%, due 5/15/25 | | | | | 31,000 | | | | | | 32,434 | | |
| 5.625%, due 3/15/27 | | | | | 31,000 | | | | | | 32,124 | | |
| Yum! Brands, Inc. | | | | | | | | | | | | | |
| 3.625%, due 3/15/31 | | | | | 55,000 | | | | | | 54,359 | | |
| 4.750%, due 1/15/30 | | | | | 136,000 | | | | | | 145,180 | | |
| | | | | | | | | | | | 4,812,396 | | |
| |
See notes to financial statements.
Schedule of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
October 31, 2021 (unaudited)
| | | | Principal
Amount | | | Value | |
| Corporate Bonds (continued) | |
| Consumer Staples — 7.4% | |
| Central Garden & Pet Co. | | | | | | | | | | | | | |
| 4.125%, due 10/15/30 | | | | $ | 50,000 | | | | | $ | 50,372 | | |
| JBS USA LUX SA / JBS USA Finance, Inc. | | | | | | | | | | | | | |
| 6.750%, due 2/15/28 | | | | | 78,000 | | | | | | 84,046 | | |
| JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc. | | | | | | | | | | | | | |
| 5.500%, due 1/15/30 | | | | | 79,000 | | | | | | 86,505 | | |
| 6.500%, due 4/15/29 | | | | | 103,000 | | | | | | 113,944 | | |
| Kraft Heinz Foods Co. | | | | | | | | | | | | | |
| 3.000%, due 6/1/26 | | | | | 102,000 | | | | | | 106,698 | | |
| 3.750%, due 4/1/30 | | | | | 81,000 | | | | | | 88,044 | | |
| 3.875%, due 5/15/27 | | | | | 55,000 | | | | | | 59,600 | | |
| 4.250%, due 3/1/31 | | | | | 131,000 | | | | | | 147,955 | | |
| 4.375%, due 6/1/46 | | | | | 154,000 | | | | | | 179,764 | | |
| 4.625%, due 1/30/29 | | | | | 50,000 | | | | | | 56,876 | | |
| 4.875%, due 10/1/49 | | | | | 61,000 | | | | | | 75,537 | | |
| 5.000%, due 6/4/42 | | | | | 148,000 | | | | | | 182,927 | | |
| 5.200%, due 7/15/45 | | | | | 67,000 | | | | | | 85,213 | | |
| 5.500%, due 6/1/50 | | | | | 125,000 | | | | | | 167,478 | | |
| Lamb Weston Holdings, Inc. | | | | | | | | | | | | | |
| 4.875%, due 5/15/28 | | | | | 55,000 | | | | | | 59,021 | | |
| Mattel, Inc. | | | | | | | | | | | | | |
| 3.375%, due 4/1/26 | | | | | 104,000 | | | | | | 106,988 | | |
| 5.875%, due 12/15/27 | | | | | 52,000 | | | | | | 55,900 | | |
| Newell Brands, Inc. | | | | | | | | | | | | | |
| 4.350%, due 4/1/23 | | | | | 32,000 | | | | | | 33,326 | | |
| 4.700%, due 4/1/26 | | | | | 116,000 | | | | | | 127,036 | | |
| 4.875%, due 6/1/25 | | | | | 130,000 | | | | | | 142,394 | | |
| Performance Food Group, Inc. | | | | | | | | | | | | | |
| 5.500%, due 10/15/27 | | | | | 113,000 | | | | | | 117,802 | | |
| Pilgrim’s Pride Corp. | | | | | | | | | | | | | |
| 3.500%, due 3/1/32 | | | | | 71,000 | | | | | | 71,177 | | |
| 4.250%, due 4/15/31 | | | | | 89,000 | | | | | | 93,895 | | |
| 5.875%, due 9/30/27 | | | | | 61,000 | | | | | | 64,317 | | |
| Post Holdings, Inc. | | | | | | | | | | | | | |
| 5.500%, due 12/15/29 | | | | | 40,000 | | | | | | 42,550 | | |
| 5.625%, due 1/15/28 | | | | | 71,000 | | | | | | 74,103 | | |
| Scotts Miracle-Gro Co. (The) | | | | | | | | | | | | | |
| 4.000%, due 4/1/31 | | | | | 52,000 | | | | | | 51,576 | | |
| Spectrum Brands, Inc. | | | | | | | | | | | | | |
| 3.875%, due 3/15/31 | | | | | 44,000 | | | | | | 43,120 | | |
| Tempur Sealy International, Inc. | | | | | | | | | | | | | |
| 3.875%, due 10/15/31 | | | | | 92,000 | | | | | | 91,167 | | |
| US Foods, Inc. | | | | | | | | | | | | | |
| 6.250%, due 4/15/25 | | | | | 96,000 | | | | | | 100,320 | | |
| | | | | | | | | | | | 2,759,651 | | |
| Energy — 11.0% | |
| AmeriGas Partners LP / AmeriGas Finance Corp. | | | | | | | | | | | | | |
| 5.500%, due 5/20/25 | | | | | 45,000 | | | | | | 48,769 | | |
| 5.750%, due 5/20/27 | | | | | 42,000 | | | | | | 46,983 | | |
| Apache Corp. | | | | | | | | | | | | | |
| 4.250%, due 1/15/30 | | | | | 188,000 | | | | | | 199,750 | | |
| 5.100%, due 9/1/40 | | | | | 46,000 | | | | | | 51,550 | | |
| Buckeye Partners LP | | | | | | | | | | | | | |
| 3.950%, due 12/1/26 | | | | | 64,000 | | | | | | 65,611 | | |
| 4.125%, due 3/1/25 | | | | | 33,000 | | | | | | 33,825 | | |
| | | | Principal
Amount | | | Value | |
| Corporate Bonds (continued) | |
| Energy (continued) | |
| Cheniere Energy Partners LP | | | | | | | | | | | | | |
| 3.250%, due 1/31/32 | | | | $ | 46,000 | | | | | $ | 45,595 | | |
| 4.000%, due 3/1/31 | | | | | 129,000 | | | | | | 134,162 | | |
| 4.500%, due 10/1/29 | | | | | 87,000 | | | | | | 92,888 | | |
| Cheniere Energy, Inc. | | | | | | | | | | | | | |
| 4.625%, due 10/15/28 | | | | | 135,000 | | | | | | 141,574 | | |
| Continental Resources, Inc. | | | | | | | | | | | | | |
| 4.375%, due 1/15/28 | | | | | 111,000 | | | | | | 121,129 | | |
| 5.750%, due 1/15/31 | | | | | 97,000 | | | | | | 116,157 | | |
| DCP Midstream Operating LP | | | | | | | | | | | | | |
| 5.125%, due 5/15/29 | | | | | 60,000 | | | | | | 67,951 | | |
| 5.375%, due 7/15/25 | | | | | 57,000 | | | | | | 62,985 | | |
| DT Midstream, Inc. | | | | | | | | | | | | | |
| 4.125%, due 6/15/29 | | | | | 78,000 | | | | | | 78,558 | | |
| 4.375%, due 6/15/31 | | | | | 37,000 | | | | | | 37,487 | | |
| EQM Midstream Partners LP | | | | | | | | | | | | | |
| 4.125%, due 12/1/26 | | | | | 194,000 | | | | | | 199,578 | | |
| 4.750%, due 7/15/23 | | | | | 39,000 | | | | | | 41,052 | | |
| 6.000%, due 7/1/25 | | | | | 54,000 | | | | | | 58,590 | | |
| EQT Corp. | | | | | | | | | | | | | |
| 3.625%, due 5/15/31 | | | | | 97,000 | | | | | | 99,061 | | |
| 3.900%, due 10/1/27 | | | | | 139,000 | | | | | | 148,382 | | |
| 6.625%, due 2/1/25 | | | | | 65,000 | | | | | | 73,125 | | |
| Hess Midstream Operations LP | | | | | | | | | | | | | |
| 4.250%, due 2/15/30 | | | | | 69,000 | | | | | | 69,000 | | |
| Occidental Petroleum Corp. | | | | | | | | | | | | | |
| 4.400%, due 4/15/46 | | | | | 34,000 | | | | | | 34,400 | | |
| 4.500%, due 7/15/44 | | | | | 333,000 | | | | | | 336,330 | | |
| 5.550%, due 3/15/26 | | | | | 524,000 | | | | | | 578,365 | | |
| 8.000%, due 7/15/25 | | | | | 30,000 | | | | | | 35,400 | | |
| Ovintiv Exploration, Inc. | | | | | | | | | | | | | |
| 5.625%, due 7/1/24 | | | | | 98,000 | | | | | | 107,903 | | |
| Range Resources Corp. | | | | | | | | | | | | | |
| 5.000%, due 3/15/23 | | | | | 31,000 | | | | | | 31,866 | | |
| Rockies Express Pipeline LLC | | | | | | | | | | | | | |
| 4.950%, due 7/15/29 | | | | | 48,000 | | | | | | 51,360 | | |
| Southwestern Energy Co. | | | | | | | | | | | | | |
| 5.375%, due 3/15/30 | | | | | 102,000 | | | | | | 107,608 | | |
| Sunoco LP / Sunoco Finance Corp. | | | | | | | | | | | | | |
| 4.500%, due 5/15/29 | | | | | 31,000 | | | | | | 31,349 | | |
| Targa Resources Partners LP / Targa Resources Partners Finance Corp. | | | | | | | | | | | | | |
| 4.000%, due 1/15/32 | | | | | 69,000 | | | | | | 71,206 | | |
| 4.875%, due 2/1/31 | | | | | 153,000 | | | | | | 164,969 | | |
| 5.000%, due 1/15/28 | | | | | 70,000 | | | | | | 73,664 | | |
| 6.500%, due 7/15/27 | | | | | 113,000 | | | | | | 121,051 | | |
| Venture Global Calcasieu Pass LLC | | | | | | | | | | | | | |
| 3.875%, due 8/15/29 | | | | | 211,000 | | | | | | 214,693 | | |
| Western Midstream Operating LP | | | | | | | | | | | | | |
| 5.300%, due 2/1/30 | | | | | 89,000 | | | | | | 97,566 | | |
| 5.300%, due 3/1/48 | | | | | 30,000 | | | | | | 34,950 | | |
| | | | | | | | | | | | 4,126,442 | | |
| Financials — 5.8% | |
Alliant Holdings Intermediate LLC / Alliant
Holdings Co.-Issuer | | | | | | | | | | | | | |
| 4.250%, due 10/15/27 | | | | | 32,000 | | | | | | 31,983 | | |
See notes to financial statements.
Schedule of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
October 31, 2021 (unaudited)
| | | | Principal
Amount | | | Value | |
| Corporate Bonds (continued) | |
| Financials (continued) | |
| CIT Group, Inc. | | | | | | | | | | | | | |
| 4.750%, due 2/16/24 | | | | $ | 37,000 | | | | | $ | 39,312 | | |
| 5.000%, due 8/15/22 | | | | | 60,000 | | | | | | 61,875 | | |
| 5.250%, due 3/7/25 | | | | | 49,000 | | | | | | 53,777 | | |
| Coinbase Global, Inc. | | | | | | | | | | | | | |
| 3.375%, due 10/1/28 | | | | | 146,000 | | | | | | 140,890 | | |
| Enact Holdings, Inc. | | | | | | | | | | | | | |
| 6.500%, due 8/15/25 | | | | | 39,000 | | | | | | 42,705 | | |
| Icahn Enterprises LP / Icahn Enterprises Finance Corp. | | | | | | | | | | | | | |
| 4.750%, due 9/15/24 | | | | | 78,000 | | | | | | 80,843 | | |
| LPL Holdings, Inc. | | | | | | | | | | | | | |
| 4.000%, due 3/15/29 | | | | | 65,000 | | | | | | 66,300 | | |
| MSCI, Inc. | | | | | | | | | | | | | |
| 3.875%, due 2/15/31 | | | | | 107,000 | | | | | | 110,381 | | |
| 4.000%, due 11/15/29 | | | | | 180,000 | | | | | | 188,100 | | |
| Navient Corp. | | | | | | | | | | | | | |
| 6.500%, due 6/15/22 | | | | | 99,000 | | | | | | 101,846 | | |
| OneMain Finance Corp. | | | | | | | | | | | | | |
| 4.000%, due 9/15/30 | | | | | 66,000 | | | | | | 64,102 | | |
| 5.625%, due 3/15/23 | | | | | 72,000 | | | | | | 75,724 | | |
| 6.125%, due 5/15/22 | | | | | 109,000 | | | | | | 111,453 | | |
| 6.125%, due 3/15/24 | | | | | 30,000 | | | | | | 31,913 | | |
| 6.875%, due 3/15/25 | | | | | 97,000 | | | | | | 108,276 | | |
| 7.125%, due 3/15/26 | | | | | 165,000 | | | | | | 187,275 | | |
| 8.875%, due 6/1/25 | | | | | 70,000 | | | | | | 75,688 | | |
| Radian Group, Inc. | | | | | | | | | | | | | |
| 4.500%, due 10/1/24 | | | | | 81,000 | | | | | | 85,860 | | |
| 4.875%, due 3/15/27 | | | | | 41,000 | | | | | | 44,741 | | |
| Rocket Mortgage LLC / Rocket Mortgage Issuer, Inc. | | | | | | | | | | | | | |
| 3.625%, due 3/1/29 | | | | | 65,000 | | | | | | 64,513 | | |
| 3.875%, due 3/1/31 | | | | | 229,000 | | | | | | 226,206 | | |
| Square, Inc. | | | | | | | | | | | | | |
| 2.750%, due 6/1/26 | | | | | 152,000 | | | | | | 153,671 | | |
| | | | | | | | | | | | 2,147,434 | | |
| Health Care — 12.8% | |
| Avantor Funding, Inc. | | | | | | | | | | | | | |
| 4.625%, due 7/15/28 | | | | | 90,000 | | | | | | 93,370 | | |
| Catalent Pharma Solutions, Inc. | | | | | | | | | | | | | |
| 5.000%, due 7/15/27 | | | | | 153,000 | | | | | | 157,972 | | |
| Centene Corp. | | | | | | | | | | | | | |
| 2.450%, due 7/15/28 | | | | | 79,000 | | | | | | 78,732 | | |
| 2.500%, due 3/1/31 | | | | | 271,000 | | | | | | 264,225 | | |
| 3.000%, due 10/15/30 | | | | | 76,000 | | | | | | 77,245 | | |
| 3.375%, due 2/15/30 | | | | | 169,000 | | | | | | 173,436 | | |
| 4.250%, due 12/15/27 | | | | | 265,000 | | | | | | 277,587 | | |
| 4.625%, due 12/15/29 | | | | | 257,000 | | | | | | 277,239 | | |
| Charles River Laboratories International, Inc. | | | | | | | | | | | | | |
| 3.750%, due 3/15/29 | | | | | 49,000 | | | | | | 49,490 | | |
| 4.250%, due 5/1/28 | | | | | 38,000 | | | | | | 39,140 | | |
| DaVita, Inc. | | | | | | | | | | | | | |
| 3.750%, due 2/15/31 | | | | | 156,000 | | | | | | 147,810 | | |
| 4.625%, due 6/1/30 | | | | | 143,000 | | | | | | 143,709 | | |
| | | | Principal
Amount | | | Value | |
| Corporate Bonds (continued) | |
| Health Care (continued) | |
| Elanco Animal Health, Inc. | | | | | | | | | | | | | |
| 5.272%, due 8/28/23 | | | | $ | 38,000 | | | | | $ | 40,462 | | |
| 5.900%, due 8/28/28 | | | | | 54,000 | | | | | | 63,108 | | |
| Encompass Health Corp. | | | | | | | | | | | | | |
| 4.500%, due 2/1/28 | | | | | 45,000 | | | | | | 45,814 | | |
| 4.750%, due 2/1/30 | | | | | 65,000 | | | | | | 66,625 | | |
| HCA, Inc. | | | | | | | | | | | | | |
| 3.500%, due 9/1/30 | | | | | 153,000 | | | | | | 160,902 | | |
| 5.375%, due 2/1/25 | | | | | 305,000 | | | | | | 339,313 | | |
| 5.375%, due 9/1/26 | | | | | 55,000 | | | | | | 62,637 | | |
| 5.625%, due 9/1/28 | | | | | 50,000 | | | | | | 58,599 | | |
| 5.875%, due 5/1/23 | | | | | 75,000 | | | | | | 80,156 | | |
| 5.875%, due 2/15/26 | | | | | 70,000 | | | | | | 79,713 | | |
| 5.875%, due 2/1/29 | | | | | 131,000 | | | | | | 155,918 | | |
| Hologic, Inc. | | | | | | | | | | | | | |
| 3.250%, due 2/15/29 | | | | | 91,000 | | | | | | 90,261 | | |
| IQVIA, Inc. | | | | | | | | | | | | | |
| 5.000%, due 5/15/27 | | | | | 70,000 | | | | | | 72,560 | | |
Jaguar Holding Co. II / PPD Development
LP | | | | | | | | | | | | | |
| 5.000%, due 6/15/28 | | | | | 81,000 | | | | | | 86,873 | | |
| Jazz Securities DAC | | | | | | | | | | | | | |
| 4.375%, due 1/15/29 | | | | | 120,000 | | | | | | 123,300 | | |
| Molina Healthcare, Inc. | | | | | | | | | | | | | |
| 3.875%, due 11/15/30 | | | | | 41,000 | | | | | | 42,281 | | |
| 4.375%, due 6/15/28 | | | | | 76,000 | | | | | | 78,660 | | |
| Mozart Debt Merger Sub, Inc. | | | | | | | | | | | | | |
| 3.875%, due 4/1/29 | | | | | 293,000 | | | | | | 291,535 | | |
Organon & Co. / Organon Foreign Debt
Co-Issuer BV | | | | | | | | | | | | | |
| 4.125%, due 4/30/28 | | | | | 119,000 | | | | | | 120,636 | | |
| Perrigo Finance Unlimited Co. | | | | | | | | | | | | | |
| 3.150%, due 6/15/30 | | | | | 90,000 | | | | | | 90,734 | | |
| Prestige Brands, Inc. | | | | | | | | | | | | | |
| 3.750%, due 4/1/31 | | | | | 46,000 | | | | | | 44,444 | | |
| Service Corp. International | | | | | | | | | | | | | |
| 3.375%, due 8/15/30 | | | | | 104,000 | | | | | | 102,440 | | |
| 4.625%, due 12/15/27 | | | | | 39,000 | | | | | | 40,901 | | |
| 5.125%, due 6/1/29 | | | | | 54,000 | | | | | | 58,307 | | |
| Teleflex, Inc. | | | | | | | | | | | | | |
| 4.250%, due 6/1/28 | | | | | 41,000 | | | | | | 42,125 | | |
| 4.625%, due 11/15/27 | | | | | 41,000 | | | | | | 42,486 | | |
| Tenet Healthcare Corp. | | | | | | | | | | | | | |
| 4.250%, due 6/1/29 | | | | | 70,000 | | | | | | 70,860 | | |
| 4.625%, due 6/15/28 | | | | | 70,000 | | | | | | 72,538 | | |
| 5.125%, due 11/1/27 | | | | | 233,000 | | | | | | 243,485 | | |
| 6.750%, due 6/15/23 | | | | | 122,000 | | | | | | 131,150 | | |
| | | | | | | | | | | | 4,778,778 | | |
| Industrials — 7.3% | |
| American Builders & Contractors Supply Co., Inc. | | | | | | | | | | | | | |
| 4.000%, due 1/15/28 | | | | | 40,000 | | | | | | 40,550 | | |
| Aramark Services, Inc. | | | | | | | | | | | | | |
| 5.000%, due 4/1/25 | | | | | 31,000 | | | | | | 31,736 | | |
5.000%, due 2/1/28(a) | | | | | 122,000 | | | | | | 124,745 | | |
See notes to financial statements.
Schedule of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
October 31, 2021 (unaudited)
| | | | Principal
Amount | | | Value | |
| Corporate Bonds (continued) | |
| Industrials (continued) | |
Avis Budget Car Rental LLC / Avis Budget
Finance, Inc. | | | | | | | | | | | | | |
| 5.375%, due 3/1/29 | | | | $ | 114,000 | | | | | $ | 119,985 | | |
| Brink’s Co. (The) | | | | | | | | | | | | | |
| 4.625%, due 10/15/27 | | | | | 60,000 | | | | | | 61,908 | | |
| Builders FirstSource, Inc. | | | | | | | | | | | | | |
| 4.250%, due 2/1/32 | | | | | 77,000 | | | | | | 77,611 | | |
| 5.000%, due 3/1/30 | | | | | 31,000 | | | | | | 32,744 | | |
| 6.750%, due 6/1/27 | | | | | 30,000 | | | | | | 31,612 | | |
| Camelot Finance SA | | | | | | | | | | | | | |
| 4.500%, due 11/1/26 | | | | | 47,000 | | | | | | 48,821 | | |
| CDW LLC / CDW Finance Corp. | | | | | | | | | | | | | |
| 3.250%, due 2/15/29 | | | | | 81,000 | | | | | | 82,134 | | |
| 4.250%, due 4/1/28 | | | | | 38,000 | | | | | | 39,330 | | |
| Century Communities, Inc. | | | | | | | | | | | | | |
| 3.875%, due 8/15/29 | | | | | 35,000 | | | | | | 34,880 | | |
| 6.750%, due 6/1/27 | | | | | 30,000 | | | | | | 31,854 | | |
| Clarivate Science Holdings Corp. | | | | | | | | | | | | | |
| 3.875%, due 7/1/28 | | | | | 32,000 | | | | | | 31,640 | | |
| Gartner, Inc. | | | | | | | | | | | | | |
| 3.750%, due 10/1/30 | | | | | 74,000 | | | | | | 75,017 | | |
| 4.500%, due 7/1/28 | | | | | 55,000 | | | | | | 57,266 | | |
| H&E Equipment Services, Inc. | | | | | | | | | | | | | |
| 3.875%, due 12/15/28 | | | | | 125,000 | | | | | | 124,062 | | |
| Herc Holdings, Inc. | | | | | | | | | | | | | |
| 5.500%, due 7/15/27 | | | | | 79,000 | | | | | | 82,358 | | |
| Howmet Aerospace, Inc. | | | | | | | | | | | | | |
| 5.125%, due 10/1/24 | | | | | 83,000 | | | | | | 90,989 | | |
| 6.875%, due 5/1/25 | | | | | 61,000 | | | | | | 70,683 | | |
| Picasso Finance Sub, Inc. | | | | | | | | | | | | | |
| 6.125%, due 6/15/25 | | | | | 52,000 | | | | | | 54,730 | | |
| Prime Security Services Borrower LLC / Prime Finance, Inc. | | | | | | | | | | | | | |
| 5.250%, due 4/15/24 | | | | | 45,000 | | | | | | 47,869 | | |
| Spirit AeroSystems, Inc. | | | | | | | | | | | | | |
| 5.500%, due 1/15/25 | | | | | 57,000 | | | | | | 59,351 | | |
| SRS Distribution, Inc. | | | | | | | | | | | | | |
| 4.625%, due 7/1/28 | | | | | 84,000 | | | | | | 85,873 | | |
| Standard Industries, Inc. | | | | | | | | | | | | | |
| 3.375%, due 1/15/31 | | | | | 74,000 | | | | | | 68,618 | | |
| 4.375%, due 7/15/30 | | | | | 74,000 | | | | | | 74,000 | | |
| 4.750%, due 1/15/28 | | | | | 68,000 | | | | | | 70,125 | | |
| 5.000%, due 2/15/27 | | | | | 84,000 | | | | | | 86,205 | | |
| Stericycle, Inc. | | | | | | | | | | | | | |
| 3.875%, due 1/15/29 | | | | | 64,000 | | | | | | 63,040 | | |
| Summit Materials LLC / Summit Materials Finance Corp. | | | | | | | | | | | | | |
| 5.250%, due 1/15/29 | | | | | 57,000 | | | | | | 59,708 | | |
| Taylor Morrison Communities, Inc. | | | | | | | | | | | | | |
| 5.125%, due 8/1/30 | | | | | 41,000 | | | | | | 43,460 | | |
| 5.875%, due 6/15/27 | | | | | 87,000 | | | | | | 97,331 | | |
| United Rentals North America, Inc. | | | | | | | | | | | | | |
| 3.750%, due 1/15/32 | | | | | 95,000 | | | | | | 94,772 | | |
| 3.875%, due 2/15/31 | | | | | 55,000 | | | | | | 55,407 | | |
| 4.000%, due 7/15/30 | | | | | 81,000 | | | | | | 82,643 | | |
| 4.875%, due 1/15/28 | | | | | 101,000 | | | | | | 106,611 | | |
| 5.250%, due 1/15/30 | | | | | 45,000 | | | | | | 48,713 | | |
| 5.500%, due 5/15/27 | | | | | 66,000 | | | | | | 69,176 | | |
| | | | Principal
Amount | | | Value | |
| Corporate Bonds (continued) | |
| Industrials (continued) | |
| WESCO Distribution, Inc. | | | | | | | | | | | | | |
| 7.125%, due 6/15/25 | | | | $ | 110,000 | | | | | $ | 116,600 | | |
| 7.250%, due 6/15/28 | | | | | 59,000 | | | | | | 65,072 | | |
| | | | | | | | | | | | 2,739,229 | | |
| Information Technology — 4.2% | |
| Black Knight InfoServ LLC | | | | | | | | | | | | | |
| 3.625%, due 9/1/28 | | | | | 81,000 | | | | | | 80,595 | | |
| Booz Allen Hamilton, Inc. | | | | | | | | | | | | | |
| 4.000%, due 7/1/29 | | | | | 76,000 | | | | | | 76,950 | | |
| CDK Global, Inc. | | | | | | | | | | | | | |
| 4.875%, due 6/1/27 | | | | | 29,000 | | | | | | 30,188 | | |
| 5.250%, due 5/15/29 | | | | | 33,000 | | | | | | 35,393 | | |
| Go Daddy Operating Co. LLC / GD Finance Co., Inc. | | | | | | | | | | | | | |
| 3.500%, due 3/1/29 | | | | | 78,000 | | | | | | 75,465 | | |
| Imola Merger Corp. | | | | | | | | | | | | | |
| 4.750%, due 5/15/29 | | | | | 145,000 | | | | | | 148,980 | | |
| Microchip Technology, Inc. | | | | | | | | | | | | | |
| 4.250%, due 9/1/25 | | | | | 59,000 | | | | | | 61,367 | | |
| NCR Corp. | | | | | | | | | | | | | |
| 5.750%, due 9/1/27 | | | | | 66,000 | | | | | | 69,465 | | |
| PTC, Inc. | | | | | | | | | | | | | |
| 4.000%, due 2/15/28 | | | | | 45,000 | | | | | | 45,619 | | |
| Seagate HDD Cayman | | | | | | | | | | | | | |
| 3.125%, due 7/15/29 | | | | | 66,000 | | | | | | 63,311 | | |
| 3.375%, due 7/15/31 | | | | | 136,000 | | | | | | 130,337 | | |
| Sensata Technologies BV | | | | | | | | | | | | | |
| 4.000%, due 4/15/29 | | | | | 55,000 | | | | | | 55,861 | | |
| Sensata Technologies, Inc. | | | | | | | | | | | | | |
| 3.750%, due 2/15/31 | | | | | 57,000 | | | | | | 56,216 | | |
| 4.375%, due 2/15/30 | | | | | 50,000 | | | | | | 52,769 | | |
| SS&C Technologies, Inc. | | | | | | | | | | | | | |
| 5.500%, due 9/30/27 | | | | | 168,000 | | | | | | 176,820 | | |
| Switch Ltd. | | | | | | | | | | | | | |
| 3.750%, due 9/15/28 | | | | | 42,000 | | | | | | 41,790 | | |
| 4.125%, due 6/15/29 | | | | | 31,000 | | | | | | 31,155 | | |
| Twilio, Inc. | | | | | | | | | | | | | |
| 3.875%, due 3/15/31 | | | | | 72,000 | | | | | | 72,704 | | |
| Western Digital Corp. | | | | | | | | | | | | | |
| 4.750%, due 2/15/26 | | | | | 159,000 | | | | | | 174,701 | | |
| Xerox Corp. | | | | | | | | | | | | | |
| 4.375%, due 3/15/23 | | | | | 62,000 | | | | | | 63,964 | | |
| Xerox Holdings Corp. | | | | | | | | | | | | | |
| 5.000%, due 8/15/25 | | | | | 39,000 | | | | | | 40,511 | | |
| | | | | | | | | | | | 1,584,161 | | |
| Materials — 5.8% | |
| Alcoa Nederland Holding BV | | | | | | | | | | | | | |
| 4.125%, due 3/31/29 | | | | | 39,000 | | | | | | 40,559 | | |
| 5.500%, due 12/15/27 | | | | | 57,000 | | | | | | 61,275 | | |
| 6.125%, due 5/15/28 | | | | | 34,000 | | | | | | 36,450 | | |
| Arconic Corp. | | | | | | | | | | | | | |
| 6.000%, due 5/15/25 | | | | | 30,000 | | | | | | 31,387 | | |
| Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC | | | | | | | | | | | | | |
| 3.250%, due 9/1/28 | | | | | 93,000 | | | | | | 91,024 | | |
See notes to financial statements.
Schedule of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
October 31, 2021 (unaudited)
| | | | Principal
Amount | | | Value | |
| Corporate Bonds (continued) | |
| Materials (continued) | |
| Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC (continued) | | | | | | | | | | | | | |
| 4.000%, due 9/1/29 | | | | $ | 53,000 | | | | | $ | 52,703 | | |
| Avient Corp. | | | | | | | | | | | | | |
| 5.750%, due 5/15/25 | | | | | 32,000 | | | | | | 33,440 | | |
| Axalta Coating Systems LLC | | | | | | | | | | | | | |
| 3.375%, due 2/15/29 | | | | | 85,000 | | | | | | 80,955 | | |
| Axalta Coating Systems LLC / Axalta Coating Systems Dutch Holding B BV | | | | | | | | | | | | | |
| 4.750%, due 6/15/27 | | | | | 31,000 | | | | | | 31,852 | | |
| Ball Corp. | | | | | | | | | | | | | |
| 2.875%, due 8/15/30 | | | | | 33,000 | | | | | | 31,721 | | |
| 3.125%, due 9/15/31 | | | | | 66,000 | | | | | | 64,185 | | |
| 4.000%, due 11/15/23 | | | | | 39,000 | | | | | | 40,901 | | |
| 4.875%, due 3/15/26 | | | | | 45,000 | | | | | | 49,331 | | |
| 5.250%, due 7/1/25 | | | | | 132,000 | | | | | | 147,158 | | |
| Berry Global, Inc. | | | | | | | | | | | | | |
| 5.625%, due 7/15/27 | | | | | 52,000 | | | | | | 54,463 | | |
| Chemours Co. (The) | | | | | | | | | | | | | |
| 5.375%, due 5/15/27 | | | | | 33,000 | | | | | | 34,815 | | |
| Cleveland-Cliffs, Inc. | | | | | | | | | | | | | |
| 4.625%, due 3/1/29 | | | | | 66,000 | | | | | | 68,392 | | |
4.875%, due 3/1/31(a) | | | | | 39,000 | | | | | | 40,609 | | |
| 6.750%, due 3/15/26 | | | | | 101,000 | | | | | | 107,565 | | |
| Crown Americas LLC / Crown Americas Capital Corp. VI | | | | | | | | | | | | | |
| 4.750%, due 2/1/26 | | | | | 99,000 | | | | | | 102,000 | | |
| Freeport-McMoRan, Inc. | | | | | | | | | | | | | |
| 4.125%, due 3/1/28 | | | | | 31,000 | | | | | | 32,085 | | |
| 4.250%, due 3/1/30 | | | | | 70,000 | | | | | | 73,850 | | |
| 4.375%, due 8/1/28 | | | | | 102,000 | | | | | | 106,204 | | |
4.625%, due 8/1/30(a) | | | | | 71,000 | | | | | | 76,769 | | |
5.250%, due 9/1/29(a) | | | | | 30,000 | | | | | | 32,835 | | |
| 5.450%, due 3/15/43 | | | | | 113,000 | | | | | | 142,154 | | |
| Novelis Corp. | | | | | | | | | | | | | |
| 3.875%, due 8/15/31 | | | | | 121,000 | | | | | | 118,132 | | |
| 4.750%, due 1/30/30 | | | | | 105,000 | | | | | | 109,200 | | |
| Olin Corp. | | | | | | | | | | | | | |
| 5.125%, due 9/15/27 | | | | | 122,000 | | | | | | 126,728 | | |
5.625%, due 8/1/29(a) | | | | | 73,000 | | | | | | 79,733 | | |
| Valvoline, Inc. | | | | | | | | | | | | | |
| 3.625%, due 6/15/31 | | | | | 78,000 | | | | | | 76,050 | | |
| | | | | | | | | | | | 2,174,525 | | |
| Media — 9.3% | |
| AMC Networks, Inc. | | | | | | | | | | | | | |
| 4.750%, due 8/1/25 | | | | | 31,000 | | | | | | 31,775 | | |
| Arches Buyer, Inc. | | | | | | | | | | | | | |
| 4.250%, due 6/1/28 | | | | | 39,000 | | | | | | 39,314 | | |
| CCO Holdings LLC / CCO Holdings Capital Corp. | | | | | | | | | | | | | |
| 4.250%, due 2/1/31 | | | | | 131,000 | | | | | | 130,410 | | |
| 4.500%, due 8/15/30 | | | | | 168,000 | | | | | | 171,004 | | |
| 4.500%, due 5/1/32 | | | | | 215,000 | | | | | | 216,017 | | |
| 4.500%, due 6/1/33 | | | | | 72,000 | | | | | | 71,820 | | |
| 4.750%, due 3/1/30 | | | | | 172,000 | | | | | | 177,590 | | |
| 5.000%, due 2/1/28 | | | | | 216,000 | | | | | | 224,640 | | |
| | | | Principal
Amount | | | Value | |
| Corporate Bonds (continued) | |
| Media (continued) | |
| 5.125%, due 5/1/27 | | | | $ | 77,000 | | | | | $ | 79,791 | | |
| 5.375%, due 6/1/29 | | | | | 53,000 | | | | | | 56,948 | | |
| CSC Holdings LLC | | | | | | | | | | | | | |
| 5.500%, due 4/15/27 | | | | | 85,000 | | | | | | 87,763 | | |
| DISH DBS Corp. | | | | | | | | | | | | | |
| 5.000%, due 3/15/23 | | | | | 104,000 | | | | | | 107,640 | | |
| 5.875%, due 7/15/22 | | | | | 130,000 | | | | | | 133,250 | | |
| 5.875%, due 11/15/24 | | | | | 140,000 | | | | | | 149,100 | | |
| iHeartCommunications, Inc. | | | | | | | | | | | | | |
| 5.250%, due 8/15/27 | | | | | 75,000 | | | | | | 76,602 | | |
| 6.375%, due 5/1/26 | | | | | 39,000 | | | | | | 40,560 | | |
| Lamar Media Corp. | | | | | | | | | | | | | |
| 3.625%, due 1/15/31 | | | | | 50,000 | | | | | | 49,032 | | |
| 3.750%, due 2/15/28 | | | | | 32,000 | | | | | | 32,346 | | |
| 4.000%, due 2/15/30 | | | | | 41,000 | | | | | | 41,625 | | |
| Live Nation Entertainment, Inc. | | | | | | | | | | | | | |
| 3.750%, due 1/15/28 | | | | | 82,000 | | | | | | 81,180 | | |
| 6.500%, due 5/15/27 | | | | | 67,000 | | | | | | 73,365 | | |
| Match Group Holdings II LLC | | | | | | | | | | | | | |
| 3.625%, due 10/1/31 | | | | | 80,000 | | | | | | 77,659 | | |
| 4.125%, due 8/1/30 | | | | | 35,000 | | | | | | 36,006 | | |
| 4.625%, due 6/1/28 | | | | | 31,000 | | | | | | 32,211 | | |
| News Corp. | | | | | | | | | | | | | |
| 3.875%, due 5/15/29 | | | | | 99,000 | | | | | | 100,485 | | |
| Nexstar Media, Inc. | | | | | | | | | | | | | |
| 4.750%, due 11/1/28 | | | | | 104,000 | | | | | | 106,252 | | |
| 5.625%, due 7/15/27 | | | | | 65,000 | | | | | | 68,575 | | |
| Radiate Holdco LLC / Radiate Finance, Inc. | | | | | | | | | | | | | |
| 4.500%, due 9/15/26 | | | | | 31,000 | | | | | | 31,497 | | |
| Scripps Escrow II, Inc. | | | | | | | | | | | | | |
| 3.875%, due 1/15/29 | | | | | 44,000 | | | | | | 43,780 | | |
| Sirius XM Radio, Inc. | | | | | | | | | | | | | |
| 3.875%, due 9/1/31 | | | | | 186,000 | | | | | | 178,677 | | |
| 4.000%, due 7/15/28 | | | | | 68,000 | | | | | | 68,490 | | |
| 4.125%, due 7/1/30 | | | | | 95,000 | | | | | | 94,576 | | |
| 5.000%, due 8/1/27 | | | | | 210,000 | | | | | | 219,188 | | |
| 5.500%, due 7/1/29 | | | | | 89,000 | | | | | | 96,009 | | |
| TEGNA, Inc. | | | | | | | | | | | | | |
| 4.750%, due 3/15/26 | | | | | 75,000 | | | | | | 78,098 | | |
| Univision Communications, Inc. | | | | | | | | | | | | | |
| 4.500%, due 5/1/29 | | | | | 83,000 | | | | | | 83,971 | | |
| WMG Acquisition Corp. | | | | | | | | | | | | | |
| 3.875%, due 7/15/30 | | | | | 74,000 | | | | | | 76,683 | | |
| | | | | | | | | | | | 3,463,929 | | |
| Real Estate — 5.2% | |
| Diversified Healthcare Trust | | | | | | | | | | | | | |
| 9.750%, due 6/15/25 | | | | | 96,000 | | | | | | 104,280 | | |
| HAT Holdings I LLC / HAT Holdings II LLC | | | | | | | | | | | | | |
| 3.375%, due 6/15/26 | | | | | 46,000 | | | | | | 45,597 | | |
| Howard Hughes Corp. (The) | | | | | | | | | | | | | |
| 4.125%, due 2/1/29 | | | | | 81,000 | | | | | | 81,082 | | |
| 4.375%, due 2/1/31 | | | | | 39,000 | | | | | | 39,009 | | |
| 5.375%, due 8/1/28 | | | | | 61,000 | | | | | | 63,974 | | |
| Iron Mountain, Inc. | | | | | | | | | | | | | |
| 4.500%, due 2/15/31 | | | | | 33,000 | | | | | | 33,330 | | |
| 4.875%, due 9/15/27 | | | | | 56,000 | | | | | | 57,716 | | |
See notes to financial statements.
Schedule of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
October 31, 2021 (unaudited)
| | | | Principal
Amount | | | Value | |
| Corporate Bonds (continued) | |
| Real Estate (continued) | |
| 4.875%, due 9/15/29 | | | | $ | 131,000 | | | | | $ | 135,336 | | |
| 5.000%, due 7/15/28 | | | | | 129,000 | | | | | | 132,870 | | |
| iStar, Inc. | | | | | | | | | | | | | |
| 4.750%, due 10/1/24 | | | | | 86,000 | | | | | | 90,859 | | |
| Kennedy-Wilson, Inc. | | | | | | | | | | | | | |
| 4.750%, due 3/1/29 | | | | | 44,000 | | | | | | 44,880 | | |
| MGM Growth Properties Operating Partnership LP / MGP Finance Co.-Issuer, Inc. | | | | | | | | | | | | | |
| 3.875%, due 2/15/29 | | | | | 80,000 | | | | | | 84,722 | | |
| 4.500%, due 9/1/26 | | | | | 36,000 | | | | | | 39,051 | | |
| 4.625%, due 6/15/25 | | | | | 81,000 | | | | | | 87,075 | | |
| 5.625%, due 5/1/24 | | | | | 30,000 | | | | | | 32,545 | | |
| 5.750%, due 2/1/27 | | | | | 42,000 | | | | | | 47,880 | | |
| Realogy Group LLC / Realogy Co-Issuer Corp. | | | | | | | | | | | | | |
| 7.625%, due 6/15/25 | | | | | 38,000 | | | | | | 40,601 | | |
| RHP Hotel Properties LP / RHP Finance Corp. | | | | | | | | | | | | | |
| 4.750%, due 10/15/27 | | | | | 45,000 | | | | | | 45,900 | | |
| RLJ Lodging Trust LP | | | | | | | | | | | | | |
| 3.750%, due 7/1/26 | | | | | 32,000 | | | | | | 32,320 | | |
| 4.000%, due 9/15/29 | | | | | 56,000 | | | | | | 55,891 | | |
| SBA Communications Corp. | | | | | | | | | | | | | |
| 3.125%, due 2/1/29 | | | | | 171,000 | | | | | | 164,160 | | |
| 3.875%, due 2/15/27 | | | | | 35,000 | | | | | | 36,095 | | |
| Starwood Property Trust, Inc. | | | | | | | | | | | | | |
| 4.750%, due 3/15/25 | | | | | 54,000 | | | | | | 56,749 | | |
| VICI Properties LP / VICI Note Co., Inc. | | | | | | | | | | | | | |
| 3.500%, due 2/15/25 | | | | | 45,000 | | | | | | 45,787 | | |
| 3.750%, due 2/15/27 | | | | | 41,000 | | | | | | 42,127 | | |
| 4.125%, due 8/15/30 | | | | | 42,000 | | | | | | 44,100 | | |
| 4.250%, due 12/1/26 | | | | | 99,000 | | | | | | 102,547 | | |
| 4.625%, due 12/1/29 | | | | | 83,000 | | | | | | 88,551 | | |
| XHR LP | | | | | | | | | | | | | |
| 4.875%, due 6/1/29 | | | | | 73,000 | | | | | | 74,894 | | |
| | | | | | | | | | | | 1,949,928 | | |
| Telecommunication Services — 3.8% | |
| Hughes Satellite Systems Corp. | | | | | | | | | | | | | |
| 6.625%, due 8/1/26 | | | | | 30,000 | | | | | | 34,011 | | |
| Level 3 Financing, Inc. | | | | | | | | | | | | | |
| 4.250%, due 7/1/28 | | | | | 98,000 | | | | | | 96,887 | | |
| 4.625%, due 9/15/27 | | | | | 58,000 | | | | | | 59,450 | | |
| Lumen Technologies, Inc. | | | | | | | | | | | | | |
4.000%, due 2/15/27(a) | | | | | 132,000 | | | | | | 132,660 | | |
| Sprint Capital Corp. | | | | | | | | | | | | | |
| 6.875%, due 11/15/28 | | | | | 84,000 | | | | | | 106,213 | | |
| 8.750%, due 3/15/32 | | | | | 44,000 | | | | | | 65,857 | | |
| Sprint Communications, Inc. | | | | | | | | | | | | | |
| 6.000%, due 11/15/22 | | | | | 77,000 | | | | | | 80,771 | | |
| Sprint Corp. | | | | | | | | | | | | | |
| 7.125%, due 6/15/24 | | | | | 81,000 | | | | | | 91,530 | | |
| 7.625%, due 2/15/25 | | | | | 136,000 | | | | | | 158,100 | | |
| 7.625%, due 3/1/26 | | | | | 30,000 | | | | | | 35,967 | | |
| 7.875%, due 9/15/23 | | | | | 117,000 | | | | | | 129,724 | | |
| | | | Principal
Amount | | | Value | |
| Corporate Bonds (continued) | |
| Telecommunication Services (continued) | |
| T-Mobile USA, Inc. | | | | | | | | | | | | | |
| 2.875%, due 2/15/31 | | | | $ | 154,000 | | | | | $ | 153,037 | | |
| 3.500%, due 4/15/31 | | | | | 123,000 | | | | | | 127,293 | | |
| 4.750%, due 2/1/28 | | | | | 72,000 | | | | | | 75,960 | | |
| 5.375%, due 4/15/27 | | | | | 69,000 | | | | | | 71,846 | | |
| | | | | | | | | | | | 1,419,306 | | |
| Transportation — 1.1% | |
| Delta Air Lines, Inc. | | | | | | | | | | | | | |
| 2.900%, due 10/28/24 | | | | | 75,000 | | | | | | 76,613 | | |
3.750%, due 10/28/29(a) | | | | | 36,000 | | | | | | 36,582 | | |
| 3.800%, due 4/19/23 | | | | | 76,000 | | | | | | 78,777 | | |
| 4.375%, due 4/19/28 | | | | | 96,000 | | | | | | 102,388 | | |
| United Airlines, Inc. | | | | | | | | | | | | | |
| 4.375%, due 4/15/26 | | | | | 126,000 | | | | | | 130,343 | | |
| | | | | | | | | | | | 424,703 | | |
| Utilities — 4.4% | |
| Calpine Corp. | | | | | | | | | | | | | |
| 3.750%, due 3/1/31 | | | | | 60,000 | | | | | | 57,601 | | |
| 4.500%, due 2/15/28 | | | | | 111,000 | | | | | | 112,444 | | |
| Clearway Energy Operating LLC | | | | | | | | | | | | | |
| 3.750%, due 2/15/31 | | | | | 96,000 | | | | | | 95,040 | | |
| 4.750%, due 3/15/28 | | | | | 36,000 | | | | | | 38,088 | | |
| FirstEnergy Corp. | | | | | | | | | | | | | |
| 2.650%, due 3/1/30 | | | | | 320,000 | | | | | | 314,870 | | |
| Series B, 4.400%, due 7/15/27 | | | | | 65,000 | | | | | | 70,519 | | |
| Series C, 5.350%, due 7/15/47 | | | | | 88,000 | | | | | | 106,791 | | |
| FirstEnergy Corp. (continued) | | | | | | | | | | | | | |
| Series C, 7.375%, due 11/15/31 | | | | | 63,000 | | | | | | 85,826 | | |
| FirstEnergy Transmission LLC | | | | | | | | | | | | | |
| 4.550%, due 4/1/49 | | | | | 32,000 | | | | | | 37,403 | | |
| NextEra Energy Operating Partners LP | | | | | | | | | | | | | |
| 3.875%, due 10/15/26 | | | | | 38,000 | | | | | | 40,423 | | |
| 4.250%, due 7/15/24 | | | | | 60,000 | | | | | | 63,522 | | |
| 4.500%, due 9/15/27 | | | | | 41,000 | | | | | | 43,862 | | |
| NRG Energy, Inc. | | | | | | | | | | | | | |
| 3.375%, due 2/15/29 | | | | | 45,000 | | | | | | 43,875 | | |
| 3.625%, due 2/15/31 | | | | | 79,000 | | | | | | 76,887 | | |
| 3.875%, due 2/15/32 | | | | | 75,000 | | | | | | 73,500 | | |
| 5.250%, due 6/15/29 | | | | | 54,000 | | | | | | 57,510 | | |
| 5.750%, due 1/15/28 | | | | | 39,000 | | | | | | 41,340 | | |
| PG&E Corp. | | | | | | | | | | | | | |
| 5.000%, due 7/1/28 | | | | | 109,000 | | | | | | 113,360 | | |
| TerraForm Power Operating LLC | | | | | | | | | | | | | |
| 5.000%, due 1/31/28 | | | | | 103,000 | | | | | | 109,695 | | |
| Vistra Operations Co. LLC | | | | | | | | | | | | | |
| 5.000%, due 7/31/27 | | | | | 76,000 | | | | | | 77,900 | | |
| | | | | | | | | | | | 1,660,456 | | |
Total Corporate Bonds
(Cost $33,698,149) | | | | | | | | | | | 34,040,938 | | |
| |
See notes to financial statements.
Schedule of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
October 31, 2021 (unaudited)
| | | | Principal
Amount | | | Value | |
| Foreign Bonds — 7.0% | |
| Consumer Discretionary — 1.5% | |
1011778 BC ULC / New Red Finance, Inc.,
(Canada) | | | | | | | | | | | | | |
| 3.500%, due 2/15/29 | | | | $ | 69,000 | | | | | $ | 66,930 | | |
| 3.875%, due 1/15/28 | | | | | 88,000 | | | | | | 87,787 | | |
| 4.000%, due 10/15/30 | | | | | 139,000 | | | | | | 134,653 | | |
| 4.375%, due 1/15/28 | | | | | 148,000 | | | | | | 148,776 | | |
| 5.750%, due 4/15/25 | | | | | 71,000 | | | | | | 73,751 | | |
| ZF North America Capital, Inc., (Germany) | | | | | | | | | | | | | |
| 4.750%, due 4/29/25 | | | | | 59,000 | | | | | | 63,499 | | |
| | | | | | | | | | | | 575,396 | | |
| Energy — 0.6% | |
| Methanex Corp., (Canada) | | | | | | | | | | | | | |
| 5.125%, due 10/15/27 | | | | | 85,000 | | | | | | 89,675 | | |
| Parkland Corp., (Canada) | | | | | | | | | | | | | |
| 5.875%, due 7/15/27 | | | | | 113,000 | | | | | | 119,356 | | |
| | | | | | | | | | | | 209,031 | | |
| Financials — 0.2% | |
| Intesa Sanpaolo SpA, (Italy) | | | | | | | | | | | | | |
| 4.198%, due 6/1/32 | | | | | 60,000 | | | | | | 60,486 | | |
| Industrials — 1.4% | |
| GFL Environmental, Inc., (Canada) | | | | | | | | | | | | | |
| 3.500%, due 9/1/28 | | | | | 47,000 | | | | | | 46,765 | | |
| 3.750%, due 8/1/25 | | | | | 58,000 | | | | | | 59,679 | | |
| 4.000%, due 8/1/28 | | | | | 78,000 | | | | | | 76,050 | | |
| 5.125%, due 12/15/26 | | | | | 67,000 | | | | | | 70,015 | | |
| Mattamy Group Corp., (Canada) | | | | | | | | | | | | | |
| 4.625%, due 3/1/30 | | | | | 49,000 | | | | | | 49,702 | | |
| 5.250%, due 12/15/27 | | | | | 34,000 | | | | | | 35,360 | | |
| Rolls-Royce PLC, (United Kingdom) | | | | | | | | | | | | | |
| 3.625%, due 10/14/25 | | | | | 101,000 | | | | | | 103,139 | | |
| 5.750%, due 10/15/27 | | | | | 78,000 | | | | | | 86,311 | | |
| | | | | | | | | | | | 527,021 | | |
| Information Technology — 0.7% | |
| Nokia OYJ, (Finland) | | | | | | | | | | | | | |
| 3.375%, due 6/12/22 | | | | | 37,000 | | | | | | 37,509 | | |
| 4.375%, due 6/12/27 | | | | | 69,000 | | | | | | 74,175 | | |
| Open Text Corp., (Canada) | | | | | | | | | | | | | |
| 3.875%, due 2/15/28 | | | | | 40,000 | | | | | | 40,300 | | |
| Open Text Holdings, Inc., (Canada) | | | | | | | | | | | | | |
| 4.125%, due 2/15/30 | | | | | 96,000 | | | | | | 97,593 | | |
| | | | | | | | | | | | 249,577 | | |
| Materials — 1.2% | |
| Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc., (Ireland) | | | | | | | | | | | | | |
| 4.125%, due 8/15/26 | | | | | 88,000 | | | | | | 89,763 | | |
| 5.250%, due 4/30/25 | | | | | 33,000 | | | | | | 34,320 | | |
| FMG Resources August 2006 Pty Ltd., (Australia) | | | | | | | | | | | | | |
| 4.500%, due 9/15/27 | | | | | 192,000 | | | | | | 200,640 | | |
| NOVA Chemicals Corp., (Canada) | | | | | | | | | | | | | |
| 4.875%, due 6/1/24 | | | | | 72,000 | | | | | | 74,934 | | |
| | | | Principal
Amount | | | Value | |
| Foreign Bonds (continued) | |
| Materials (continued) | |
| Trivium Packaging Finance BV, (Netherlands) | | | | | | | | | | | | | |
| 5.500%, due 8/15/26 | | | | $ | 48,000 | | | | | $ | 49,859 | | |
| | | | | | | | | | | | 449,516 | | |
| Media — 0.4% | |
| UPC Holding BV, (Netherlands) | | | | | | | | | | | | | |
| 5.500%, due 1/15/28 | | | | | 73,000 | | | | | | 75,555 | | |
| Videotron Ltd., (Canada) | | | | | | | | | | | | | |
| 3.625%, due 6/15/29 | | | | | 40,000 | | | | | | 40,200 | | |
| 5.125%, due 4/15/27 | | | | | 42,000 | | | | | | 43,418 | | |
| | | | | | | | | | | | 159,173 | | |
| Telecommunication Services — 0.8% | |
| Telecom Italia SpA, (Italy) | | | | | | | | | | | | | |
| 5.303%, due 5/30/24 | | | | | 107,000 | | | | | | 113,955 | | |
| Virgin Media Secured Finance PLC, (United Kingdom) | | | | | | | | | | | | | |
| 5.500%, due 5/15/29 | | | | | 136,000 | | | | | | 143,502 | | |
| Vmed O2 UK Financing I PLC, (United Kingdom) | | | | | | | | | | | | | |
| 4.250%, due 1/31/31 | | | | | 64,000 | | | | | | 62,311 | | |
| | | | | | | | | | | | 319,768 | | |
| Transportation — 0.2% | |
| Air Canada, (Canada) | | | | | | | | | | | | | |
| 3.875%, due 8/15/26 | | | | | 93,000 | | | | | | 94,163 | | |
Total Foreign Bonds
(Cost $2,661,342) | | | | | | | | | | | 2,644,131 | | |
| Short-Term Investments — 2.5% | | | | | | | | | | | | | |
| Money Market Funds — 2.5% | |
BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 0.01%(b) | | | | | 468,709 | | | | | | 468,709 | | |
Dreyfus Government Cash Management
Fund, Institutional Shares, 0.03%(b)(c) | | | | | 470,079 | | | | | | 470,079 | | |
Total Short-Term Investments
(Cost $938,788) | | | | | | | | | | | 938,788 | | |
Total Investments — 100.5%
(Cost $37,298,279) | | | | | | | | | | | 37,623,857 | | |
Other Assets and Liabilities,
Net — (0.5)% | | | | | | | | | | | (206,459) | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 37,417,398 | | |
| |
(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 $526,467; total market value of collateral held by the Fund was $545,695. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $75,616.
(b)
Reflects the 1-day yield at October 31, 2021.
(c)
Represents security purchased with cash collateral received for securities on loan.
See notes to financial statements.
Schedule of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)
October 31, 2021 (unaudited)
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investments in Securities:(d) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Corporate Bonds | | | | $ | — | | | | | $ | 34,040,938 | | | | | $ | — | | | | | $ | 34,040,938 | | |
| Foreign Bonds | | | | | — | | | | | | 2,644,131 | | | | | | — | | | | | | 2,644,131 | | |
| Short-Term Investments: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Money Market Funds | | | | | 938,788 | | | | | | — | | | | | | — | | | | | | 938,788 | | |
| Total Investments in Securities | | | | $ | 938,788 | | | | | $ | 36,685,069 | | | | | $ | — | | | | | $ | 37,623,857 | | |
(d)
For a complete listing of investments and their industries, see the Schedule of Investments.
For the period ended October 31, 2021, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 2)
See notes to financial statements.
Schedule of Investments — IQ Merger Arbitrage ETF
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks — 90.6% | |
| Communication Services — 1.5% | |
| Shaw Communications, Inc., Class B | | | | | 253,293 | | | | | $ | 7,282,774 | | |
Sumo Group PLC* | | | | | 543,286 | | | | | | 3,615,562 | | |
| Total Communication Services | | | | | | | | | | | 10,898,336 | | |
| Consumer Discretionary — 5.2% | |
Diamond Resorts International,
Inc.*(a) | | | | | 47,422 | | | | | | 0 | | |
Golden Nugget Online Gaming,
Inc.* | | | | | 279,851 | | | | | | 4,721,086 | | |
Sportsman’s Warehouse Holdings,
Inc.* | | | | | 743,490 | | | | | | 12,832,638 | | |
Veoneer, Inc.*(b) | | | | | 461,277 | | | | | | 16,236,950 | | |
zooplus AG* | | | | | 7,413 | | | | | | 4,104,045 | | |
| Total Consumer Discretionary | | | | | | | | | | | 37,894,719 | | |
| Consumer Staples — 1.2% | |
| Sanderson Farms, Inc. | | | | | 47,339 | | | | | | 8,968,374 | | |
| Energy — 1.3% | |
Extraction Oil & Gas, Inc.* | | | | | 45,416 | | | | | | 3,026,068 | | |
| Oil Search Ltd. | | | | | 1,633,511 | | | | | | 5,263,533 | | |
Vine Energy, Inc., Class A* | | | | | 84,491 | | | | | | 1,442,261 | | |
| Total Energy | | | | | | | | | | | 9,731,862 | | |
| Financials — 10.1% | |
| American National Group, Inc. | | | | | 14,180 | | | | | | 2,690,088 | | |
Atlantic Capital Bancshares, Inc.* | | | | | 60,918 | | | | | | 1,675,854 | | |
| First Midwest Bancorp, Inc. | | | | | 136,741 | | | | | | 2,632,264 | | |
| Flagstar Bancorp, Inc. | | | | | 340,557 | | | | | | 16,070,885 | | |
| Great Western Bancorp, Inc. | | | | | 158,664 | | | | | | 5,402,509 | | |
| Investors Bancorp, Inc. | | | | | 342,602 | | | | | | 5,241,811 | | |
| Meridian Bancorp, Inc. | | | | | 122,760 | | | | | | 2,848,032 | | |
| People’s United Financial, Inc. | | | | | 888,597 | | | | | | 15,230,552 | | |
| Sanne Group PLC | | | | | 197,876 | | | | | | 2,451,995 | | |
Societa Cattolica Di Assicurazione SPA* | | | | | 597,170 | | | | | | 4,547,271 | | |
| State Auto Financial Corp. | | | | | 58,346 | | | | | | 2,993,733 | | |
| Sterling Bancorp | | | | | 441,382 | | | | | | 11,233,172 | | |
| Total Financials | | | | | | | | | | | 73,018,166 | | |
| Health Care — 23.9% | |
Acceleron Pharma, Inc.* | | | | | 247,072 | | | | | | 43,035,001 | | |
Change Healthcare, Inc.* | | | | | 1,075,707 | | | | | | 23,159,972 | | |
| Hill-Rom Holdings, Inc. | | | | | 283,474 | | | | | | 43,910,123 | | |
Inovalon Holdings, Inc., Class A* | | | | | 324,371 | | | | | | 13,231,093 | | |
Intersect ENT, Inc.* | | | | | 94,183 | | | | | | 2,540,115 | | |
Kadmon Holdings, Inc.*(b) | | | | | 642,237 | | | | | | 6,069,140 | | |
Magellan Health, Inc.* | | | | | 90,307 | | | | | | 8,563,813 | | |
PPD, Inc.* | | | | | 551,197 | | | | | | 25,999,962 | | |
Soliton, Inc.* | | | | | 81,404 | | | | | | 1,676,108 | | |
Swedish Orphan Biovitrum AB* | | | | | 187,776 | | | | | | 5,094,232 | | |
| Total Health Care | | | | | | | | | | | 173,279,559 | | |
| Industrials — 13.2% | |
Akka Technologies* | | | | | 22,701 | | | | | | 1,254,689 | | |
| CAI International, Inc. | | | | | 139,138 | | | | | | 7,781,988 | | |
| Covanta Holding Corp. | | | | | 519,988 | | | | | | 10,493,358 | | |
Echo Global Logistics, Inc.* | | | | | 153,305 | | | | | | 7,393,900 | | |
Europcar Mobility Group*(b) | | | | | 3,817,828 | | | | | | 2,230,297 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Industrials (continued) | |
ExOne Co. (The)* | | | | | 73,340 | | | | | $ | 1,688,287 | | |
| Kansas City Southern | | | | | 112,520 | | | | | | 34,909,330 | | |
Meggitt PLC* | | | | | 401,026 | | | | | | 4,122,796 | | |
Raven Industries, Inc.* | | | | | 245,578 | | | | | | 14,199,320 | | |
| Ultra Electronics Holdings PLC | | | | | 62,137 | | | | | | 2,761,349 | | |
Welbilt, Inc.* | | | | | 393,038 | | | | | | 9,299,279 | | |
| Total Industrials | | | | | | | | | | | 96,134,593 | | |
| Information Technology — 17.8% | |
Afterpay Ltd.* | | | | | 270,531 | | | | | | 25,052,027 | | |
| Avast PLC | | | | | 455,814 | | | | | | 3,496,418 | | |
Blue Prism Group PLC* | | | | | 189,231 | | | | | | 2,928,494 | | |
Coherent, Inc.* | | | | | 111,410 | | | | | | 28,342,704 | | |
DSP Group, Inc.* | | | | | 64,687 | | | | | | 1,421,173 | | |
| Dye & Durham Ltd. | | | | | 34,048 | | | | | | 1,040,214 | | |
Equiniti Group PLC* | | | | | 479,729 | | | | | | 1,173,137 | | |
GreenSky, Inc., Class A* | | | | | 675,451 | | | | | | 8,267,520 | | |
Magnachip Semiconductor Corp.* | | | | | 170,363 | | | | | | 3,230,083 | | |
Nuance Communications, Inc.* | | | | | 904,803 | | | | | | 49,809,405 | | |
| QAD, Inc., Class A | | | | | 46,956 | | | | | | 4,115,224 | | |
| Total Information Technology | | | | | | | | | | | 128,876,399 | | |
| Materials — 5.5% | |
Atotech Ltd.*(b) | | | | | 266,296 | | | | | | 6,431,049 | | |
Domtar Corp.* | | | | | 179,274 | | | | | | 9,786,568 | | |
Ferro Corp.* | | | | | 102,215 | | | | | | 2,148,559 | | |
Forterra, Inc.* | | | | | 151,172 | | | | | | 3,600,917 | | |
Kraton Corp.* | | | | | 397,391 | | | | | | 18,140,899 | | |
| Total Materials | | | | | | | | | | | 40,107,992 | | |
| Real Estate — 4.3% | |
| Columbia Property Trust, Inc. | | | | | 694,246 | | | | | | 13,308,696 | | |
| GCP Student Living PLC | | | | | 922,741 | | | | | | 2,662,502 | | |
Kungsleden AB(b) | | | | | 93,225 | | | | | | 1,280,847 | | |
| Landmark Infrastructure Partners LP | | | | | 177,003 | | | | | | 2,915,239 | | |
MGM Growth Properties LLC,
Class A | | | | | 282,829 | | | | | | 11,137,806 | | |
| Total Real Estate | | | | | | | | | | | 31,305,090 | | |
| Utilities — 6.6% | |
| PNM Resources, Inc. | | | | | 717,610 | | | | | | 35,701,098 | | |
| Spark Infrastructure Group | | | | | 4,092,442 | | | | | | 8,637,475 | | |
| Suez SA | | | | | 154,768 | | | | | | 3,525,685 | | |
| Total Utilities | | | | | | | | | | | 47,864,258 | | |
| Total Common Stocks | | | | | | | | | | | | | |
| (Cost $649,981,300) | | | | | | | | | | | 658,079,348 | | |
| Short-Term Investments — 9.5% | |
| Money Market Funds — 9.5% | |
Dreyfus Government Cash Management Fund, Institutional Shares, 0.03%(c)(d) | | | | | 14,357,365 | | | | | | 14,357,365 | | |
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 0.01%(c) | | | | | 54,573,390 | | | | | | 54,573,390 | | |
| Total Short-Term Investments | | | | | | | | | | | | | |
| (Cost $68,930,755) | | | | | | | | | | | 68,930,755 | | |
| |
See notes to financial statements.
Schedule of Investments — IQ Merger Arbitrage ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Total Investments — 100.1% | | | ��� | | | | | | | |
| (Cost $718,912,055) | | | | | | | $ | 727,010,103 | | |
| Other Assets and Liabilities, Net — (0.1)% | | | | | | | | (537,485) | | |
| Net Assets — 100.0% | | | | | | | $ | 726,472,618 | | |
| |
*
Non-income producing securities.
(a)
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.
(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 $14,252,925; total market value of collateral held by the Fund was $14,694,869. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $337,503.
(c)
Reflects the 1-day yield at October 31, 2021.
(d)
Represents security purchased with cash collateral received for securities on loan.
Total Return Swap contracts outstanding at October 31, 2021:
| Total Return Benchmark | | | Counterparty | | | Floating
Rate(e) | | | Expiration
Date | | | Payment
Frequency | | | Notional
Amount
Long/
(Short) | | | Value/
Unrealized
Appreciation/
(Depreciation)(f) | |
| Communication Services Select Sector SPDR Fund | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 2/02/2022 | | | | Monthly | | | | $ | (231,987) | | | | | $ | — | | |
| Communication Services Select Sector SPDR Fund | | | Merrill Lynch | | | 1-Month LIBOR | | | | | 2/28/2023 | | | | Monthly | | | | | (231,987) | | | | | | — | | |
| Financial Select Sector SPDR Fund | | | Morgan Stanley | | | 1-Day FEDEF - 0.35% | | | | | 2/02/2022 | | | | Monthly | | | | | (4,244,249) | | | | | | — | | |
| Financial Select Sector SPDR Fund | | | Merrill Lynch | | | 1-Month LIBOR | | | | | 2/28/2023 | | | | Monthly | | | | | (4,244,249) | | | | | | — | | |
| Industrial Select Sector SPDR Fund | | | Morgan Stanley | | | 1-Day FEDEF - 0.15% | | | | | 2/02/2022 | | | | Monthly | | | | | (11,207,493) | | | | | | — | | |
| Industrial Select Sector SPDR Fund | | | Merrill Lynch | | | 1-Month LIBOR | | | | | 2/28/2023 | | | | Monthly | | | | | (11,207,493) | | | | | | — | | |
| iShares Expanded Tech-Software Sector ETF | | | Morgan Stanley | | | 1-Day FEDEF - 1.00% | | | | | 2/02/2022 | | | | Monthly | | | | | (15,931,731) | | | | | | — | | |
| iShares Expanded Tech-Software Sector ETF | | | Merrill Lynch | | | 1-Month LIBOR | | | | | 2/28/2023 | | | | Monthly | | | | | (15,931,731) | | | | | | — | | |
| iShares MSCI Pacific ex Japan ETF | | | Morgan Stanley | | | 1-Day FEDEF - 5.38% | | | | | 2/02/2022 | | | | Monthly | | | | | (2,729,441) | | | | | | — | | |
| iShares MSCI Pacific ex Japan ETF | | | Merrill Lynch | | | 1-Month LIBOR | | | | | 2/28/2023 | | | | Monthly | | | | | (2,729,441) | | | | | | — | | |
| iShares Semiconductor ETF | | | Morgan Stanley | | | 1-Day FEDEF - 1.23% | | | | | 2/02/2022 | | | | Monthly | | | | | (10,302,793) | | | | | | — | | |
| SPDR S&P Oil & Gas Exploration & Production ETF | | | Morgan Stanley | | | 1-Day FEDEF - 1.28% | | | | | 2/02/2022 | | | | Monthly | | | | | (2,123,052) | | | | | | — | | |
| SPDR S&P Oil & Gas Exploration & Production ETF | | | Merrill Lynch | | | 1-Month LIBOR | | | | | 2/28/2023 | | | | Monthly | | | | | (2,123,052) | | | | | | — | | |
| SPDR S&P Regional Banking ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.75% | | | | | 2/02/2022 | | | | Monthly | | | | | (31,913,613) | | | | | | — | | |
| SPDR S&P Regional Banking ETF | | | Merrill Lynch | | | 1-Month LIBOR | | | | | 2/28/2023 | | | | Monthly | | | | | (31,913,613) | | | | | | — | | |
| Vanguard FTSE Europe ETF | | | Morgan Stanley | | | 1-Day FEDEF | | | | | 2/02/2022 | | | | Monthly | | | | | (459,561) | | | | | | — | | |
| Vanguard FTSE Europe ETF | | | Merrill Lynch | | | 1-Month LIBOR | | | | | 2/28/2023 | | | | Monthly | | | | | (459,561) | | | | | | — | | |
| Vanguard Real Estate ETF | | | Morgan Stanley | | | 1-Day FEDEF - 0.15% | | | | | 2/02/2022 | | | | Monthly | | | | | (3,323,757) | | | | | | — | | |
| Vanguard Real Estate ETF | | | Merrill Lynch | | | 1-Month LIBOR | | | | | 2/28/2023 | | | | Monthly | | | | | (3,323,757) | | | | | | — | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | $ | — | | |
Cash posted has been segregated as collateral for swaps in the amount of $4,850,000 at October 31, 2021.
The total value of securities segregated as collateral for swap contracts with counterparty Morgan Stanley amounted to $16 and with Merrill Lynch amounted to $1,045,080 at October 31, 2021. The Fund either receives fees from, or pays to the counterparty, the total return of the benchmark and the agreed-upon financing rate.
(e)
Portfolio pays or receives the floating rate and receives or pays the total return of the reference rate entity.
(f)
Reflects the value at reset date of October 31, 2021.
Abbreviations
FEDEF — Federal Funds Effective Rate
LIBOR — London Inter-Bank Offered Rate
See notes to financial statements.
Schedule of Investments — IQ Merger Arbitrage ETF (continued)
October 31, 2021 (unaudited)
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investments in Securities:(g) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | | | $ | 658,079,348 | | | | | $ | — | | | | | $ | 0(h) | | | | | $ | 658,079,348 | | |
| Short-Term Investments: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Money Market Funds | | | | | 68,930,755 | | | | | | — | | | | | | — | | | | | | 68,930,755 | | |
| Total Investments in Securities | | | | | 727,010,103 | | | | | | — | | | | | | — | | | | | | 727,010,103 | | |
| Other Financial Instruments:(i) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Swap Contracts | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Total Investments in Securities and Other Financial Instruments | | | | $ | 727,010,103 | | | | | $ | — | | | | | $ | 0 | | | | | $ | 727,010,103 | | |
| Liability Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Other Financial Instruments:(i) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Swap Contracts | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
(g)
For a complete listing of investments and their industries, see the Schedule of Investments.
(h)
The Level 3 security, valued at $0, has been fair valued in good faith in accordance with procedures established by the Board of Trustees.
(i)
Reflects the unrealized appreciation (depreciation) of the instruments.
For the period ended October 31, 2021,the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 2)
A summary of the Fund’s transactions with affiliated fund during the period ended October 31, 2021 is as follows:
Affiliated Holdings
| | | | Shares at
04/30/2021 | | | Value
($) at
04/30/2021 | | | Purchases
Cost
($) | | | Sales
Proceeds
($) | | | Net
Realized
Gain/
(Loss)
($) | | | Net
Change in
Unrealized
Appreciation/
(Depreciation)
($) | | | Income
Distributions
($) | | | Capital
Gain
Distributions
($) | | | Shares at
10/31/2021 | | | Value
($) at
10/31/2021 | |
IQ Ultra
Short
Duration
ETF | | | | | 145,656 | | | | | | 7,225,994 | | | | | | 15,859,078 | | | | | | (23,055,686) | | | | | | (25,758) | | | | | | (3,628) | | | | | | 19,643 | | | | | | — | | | | | | — | | | | | | — | | |
For more information on the determination, please refer to Note 6.
See notes to financial statements.
Schedule of Investments — IQ Global Resources ETF
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks — 99.8% | |
| Australia — 12.6% | | | | | | | | | | | | | |
| BHP Group Ltd. | | | | | 46,159 | | | | | $ | 1,268,230 | | |
| Evolution Mining Ltd. | | | | | 15,904 | | | | | | 43,362 | | |
| Fortescue Metals Group Ltd. | | | | | 31,879 | | | | | | 333,544 | | |
Glencore PLC* | | | | | 113,525 | | | | | | 568,381 | | |
| IGO Ltd. | | | | | 7,347 | | | | | | 53,197 | | |
| Iluka Resources Ltd. | | | | | 12,103 | | | | | | 85,451 | | |
| Mineral Resources Ltd. | | | | | 1,575 | | | | | | 45,651 | | |
| Newcrest Mining Ltd. | | | | | 7,307 | | | | | | 136,604 | | |
| Northern Star Resources Ltd. | | | | | 7,202 | | | | | | 49,983 | | |
OceanaGold Corp.* | | | | | 6,008 | | | | | | 11,196 | | |
| OZ Minerals Ltd. | | | | | 2,736 | | | | | | 51,642 | | |
| Regis Resources Ltd. | | | | | 6,509 | | | | | | 9,778 | | |
| Rio Tinto PLC | | | | | 15,133 | | | | | | 946,010 | | |
| South32 Ltd. | | | | | 39,666 | | | | | | 106,362 | | |
| St. Barbara Ltd. | | | | | 6,624 | | | | | | 7,289 | | |
| Woodside Petroleum Ltd. | | | | | 4,196 | | | | | | 73,307 | | |
| Total Australia | | | | | | | | | | | 3,789,987 | | |
| Austria — 0.4% | | | |
| OMV AG | | | | | 1,297 | | | | | | 78,650 | | |
voestalpine AG(a) | | | | | 1,424 | | | | | | 54,118 | | |
| Total Austria | | | | | | | | | | | 132,768 | | |
| Belgium — 0.4% | | | |
| Umicore SA | | | | | 2,188 | | | | | | 125,540 | | |
| Brazil — 1.3% | | | |
| Wheaton Precious Metals Corp. | | | | | 3,611 | | | | | | 145,541 | | |
| Yara International ASA | | | | | 4,531 | | | | | | 236,103 | | |
| Total Brazil | | | | | | | | | | | 381,644 | | |
| Burkina Faso — 0.2% | | | |
Endeavour Mining PLC(a) | | | | | 1,354 | | | | | | 34,429 | | |
IAMGOLD Corp.* | | | | | 4,089 | | | | | | 11,249 | | |
| Total Burkina Faso | | | | | | | | | | | 45,678 | | |
| Canada — 9.3% | | | |
| Agnico Eagle Mines Ltd. | | | | | 1,992 | | | | | | 105,566 | | |
| Alamos Gold, Inc., Class A | | | | | 3,073 | | | | | | 22,758 | | |
| B2Gold Corp. | | | | | 9,214 | | | | | | 37,984 | | |
| Barrick Gold Corp. | | | | | 14,289 | | | | | | 261,791 | | |
| Canadian Natural Resources Ltd. | | | | | 4,498 | | | | | | 190,872 | | |
| Enbridge, Inc. | | | | | 7,899 | | | | | | 330,349 | | |
| First Majestic Silver Corp. | | | | | 2,243 | | | | | | 28,373 | | |
Fortuna Silver Mines, Inc.* | | | | | 1,860 | | | | | | 9,003 | | |
Imperial Oil Ltd.(a) | | | | | 2,879 | | | | | | 97,318 | | |
K92 Mining, Inc.* | | | | | 1,831 | | | | | | 10,665 | | |
| Kinross Gold Corp. | | | | | 10,133 | | | | | | 60,820 | | |
| Kirkland Lake Gold Ltd. | | | | | 2,234 | | | | | | 94,024 | | |
Lundin Gold, Inc.* | | | | | 2,073 | | | | | | 18,948 | | |
| Maple Leaf Foods, Inc. | | | | | 2,115 | | | | | | 46,035 | | |
New Gold, Inc.* | | | | | 6,186 | | | | | | 8,684 | | |
| Nutrien Ltd. | | | | | 10,519 | | | | | | 734,052 | | |
| Osisko Gold Royalties Ltd. | | | | | 1,305 | | | | | | 16,455 | | |
| Pan American Silver Corp. | | | | | 2,015 | | | | | | 51,483 | | |
| Pembina Pipeline Corp. | | | | | 2,053 | | | | | | 67,856 | | |
| Premium Brands Holdings Corp. | | | | | 684 | | | | | | 73,805 | | |
Pretium Resources, Inc.* | | | | | 1,520 | | | | | | 18,357 | | |
Sandstorm Gold Ltd.* | | | | | 1,494 | | | | | | 9,437 | | |
| SSR Mining, Inc. | | | | | 1,874 | | | | | | 29,511 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Canada (continued) | | | |
| Suncor Energy, Inc. | | | | | 6,203 | | | | | $ | 162,888 | | |
| TC Energy Corp. | | | | | 3,610 | | | | | | 194,982 | | |
Torex Gold Resources, Inc.* | | | | | 1,595 | | | | | | 18,517 | | |
| West Fraser Timber Co., Ltd. | | | | | 891 | | | | | | 71,227 | | |
| Yamana Gold, Inc. | | | | | 7,498 | | | | | | 29,398 | | |
| Total Canada | | | | | | | | | | | 2,801,158 | | |
| Chile — 0.8% | | | |
Antofagasta PLC(a) | | | | | 8,729 | | | | | | 170,565 | | |
| Lundin Mining Corp. | | | | | 6,750 | | | | | | 58,648 | | |
| Total Chile | | | | | | | | | | | 229,213 | | |
| China — 6.9% | | | | | | | | | | | | | |
Ausnutria Dairy Corp., Ltd.* | | | | | 38,832 | | | | | | 48,671 | | |
| China Hongqiao Group Ltd. | | | | | 67,998 | | | | | | 75,611 | | |
| China Modern Dairy Holdings Ltd. | | | | | 171,365 | | | | | | 32,383 | | |
| China Molybdenum Co., Ltd., Class H | | | | | 233,795 | | | | | | 145,163 | | |
| China Petroleum & Chemical Corp., Class H | | | | | 520,369 | | | | | | 255,534 | | |
COFCO Joycome Foods Ltd.*(a) | | | | | 92,311 | | | | | | 35,837 | | |
| Dali Foods Group Co., Ltd. | | | | | 266,827 | | | | | | 148,522 | | |
| Guangdong Investment Ltd. | | | | | 36,858 | | | | | | 46,433 | | |
MMG Ltd.* | | | | | 72,206 | | | | | | 33,416 | | |
| PetroChina Co., Ltd., Class H | | | | | 765,588 | | | | | | 370,046 | | |
Southern Energy Holdings Group
Ltd.*(b) | | | | | 53,183 | | | | | | 4,649 | | |
| Wilmar International Ltd. | | | | | 114,745 | | | | | | 367,592 | | |
| Xinyi Solar Holdings Ltd. | | | | | 47,402 | | | | | | 99,203 | | |
Zhaojin Mining Industry Co., Ltd.,
Class H(a) | | | | | 32,556 | | | | | | 23,311 | | |
| Zijin Mining Group Co., Ltd., Class H | | | | | 266,743 | | | | | | 371,703 | | |
| Total China | | | | | | | | | | | 2,058,074 | | |
| Denmark — 0.6% | | | |
Chr Hansen Holding A/S(a) | | | | | 2,295 | | | | | | 182,790 | | |
| Egypt — 0.0%(c) | | | |
| Centamin PLC | | | | | 9,803 | | | | | | 12,599 | | |
| Finland — 2.5% | | | |
| Kemira OYJ | | | | | 483 | | | | | | 7,417 | | |
| Neste OYJ | | | | | 4,031 | | | | | | 224,800 | | |
| Stora Enso OYJ, Class R | | | | | 11,055 | | | | | | 183,969 | | |
| UPM-Kymmene OYJ | | | | | 7,629 | | | | | | 269,451 | | |
| Valmet OYJ | | | | | 1,852 | | | | | | 75,227 | | |
| Total Finland | | | | | | | | | | | 760,864 | | |
| France — 2.5% | | | |
| Suez SA | | | | | 3,236 | | | | | | 73,718 | | |
| TotalEnergies SE | | | | | 11,038 | | | | | | 553,996 | | |
| Veolia Environnement SA | | | | | 3,693 | | | | | | 120,647 | | |
| Total France | | | | | | | | | | | 748,361 | | |
| Germany — 0.7% | | | |
| Aurubis AG | | | | | 394 | | | | | | 34,033 | | |
| KWS Saat SE & Co. KGaA | | | | | 617 | | | | | | 52,695 | | |
| Suedzucker AG | | | | | 3,560 | | | | | | 56,524 | | |
| Uniper SE | | | | | 1,480 | | | | | | 65,443 | | |
| Total Germany | | | | | | | | | | | 208,695 | | |
| |
See notes to financial statements.
Schedule of Investments — IQ Global Resources ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Hong Kong — 0.4% | | | |
C.P. Pokphand Co., Ltd.(a) | | | | | 439,419 | | | | | $ | 62,136 | | |
Vitasoy International Holdings Ltd.(a) | | | | | 22,693 | | | | | | 54,610 | | |
| Total Hong Kong | | | | | | | | | | | 116,746 | | |
| Indonesia — 0.2% | | | | | | | | | | | | | |
| First Resources Ltd. | | | | | 30,601 | | | | | | 40,393 | | |
| Nickel Mines Ltd. | | | | | 24,586 | | | | | | 19,297 | | |
| Total Indonesia | | | | | | | | | | | 59,690 | | |
| Ireland — 1.4% | | | |
| Kerry Group PLC, Class A | | | | | 3,158 | | | | | | 424,298 | | |
| Italy — 0.7% | | | |
| Eni SpA | | | | | 14,086 | | | | | | 202,198 | | |
| Japan — 4.9% | | | |
| Ajinomoto Co., Inc. | | | | | 9,703 | | | | | | 289,835 | | |
| Fuji Oil Holdings, Inc. | | | | | 1,639 | | | | | | 38,422 | | |
| Itoham Yonekyu Holdings, Inc. | | | | | 5,572 | | | | | | 33,864 | | |
| JFE Holdings, Inc. | | | | | 3,974 | | | | | | 60,747 | | |
| Kagome Co., Ltd. | | | | | 1,531 | | | | | | 38,804 | | |
| Kewpie Corp. | | | | | 2,481 | | | | | | 54,287 | | |
Kikkoman Corp.(a) | | | | | 3,839 | | | | | | 313,786 | | |
| NH Foods Ltd. | | | | | 1,860 | | | | | | 65,330 | | |
| Nichirei Corp. | | | | | 2,469 | | | | | | 60,196 | | |
| Nippon Steel Corp. | | | | | 6,430 | | | | | | 112,726 | | |
| Nisshin Seifun Group, Inc. | | | | | 5,209 | | | | | | 82,184 | | |
| Oji Holdings Corp. | | | | | 12,762 | | | | | | 63,125 | | |
| Prima Meat Packers Ltd. | | | | | 153 | | | | | | 3,585 | | |
| Sumitomo Metal Mining Co., Ltd. | | | | | 2,531 | | | | | | 98,177 | | |
| Toyo Suisan Kaisha Ltd. | | | | | 1,878 | | | | | | 80,868 | | |
Yamazaki Baking Co., Ltd.(a) | | | | | 4,136 | | | | | | 62,752 | | |
| Total Japan | | | | | | | | | | | 1,458,688 | | |
| Kyrgyzstan — 0.1% | | | | | | | | | | | | | |
| Centerra Gold, Inc. | | | | | 2,807 | | | | | | 21,015 | | |
| Luxembourg — 0.8% | | | |
| ArcelorMittal SA | | | | | 7,391 | | | | | | 250,823 | | |
| Mexico — 0.3% | | | |
| Fresnillo PLC | | | | | 6,787 | | | | | | 80,306 | | |
| Netherlands — 3.0% | | | |
OCI NV* | | | | | 3,829 | | | | | | 108,562 | | |
| Royal Dutch Shell PLC, Class B | | | | | 34,716 | | | | | | 801,840 | | |
| Total Netherlands | | | | | | | | | | | 910,402 | | |
| New Zealand — 0.2% | | | |
| Fletcher Building Ltd. | | | | | 10,556 | | | | | | 54,165 | | |
| Norway — 1.7% | | | |
| Aker BP ASA | | | | | 1,381 | | | | | | 52,877 | | |
| Equinor ASA | | | | | 13,186 | | | | | | 333,185 | | |
| Norsk Hydro ASA | | | | | 14,952 | | | | | | 109,374 | | |
| Total Norway | | | | | | | | | | | 495,436 | | |
| Peru — 1.4% | | | |
| Hochschild Mining PLC | | | | | 4,936 | | | | | | 9,648 | | |
| Southern Copper Corp. | | | | | 6,707 | | | | | | 402,353 | | |
| Total Peru | | | | | | | | | | | 412,001 | | |
| |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Portugal — 0.2% | | | |
| Galp Energia SGPS SA | | | | | 3,366 | | | | | $ | 35,026 | | |
| Navigator Co. SA (The) | | | | | 9,325 | | | | | | 36,475 | | |
| Total Portugal | | | | | | | | | | | 71,501 | | |
| Russia — 1.0% | | | |
| Evraz PLC | | | | | 12,083 | | | | | | 102,954 | | |
Petropavlovsk PLC* | | | | | 33,290 | | | | | | 10,879 | | |
| Polymetal International PLC | | | | | 4,132 | | | | | | 76,746 | | |
United Co. RUSAL International PJSC* | | | | | 110,632 | | | | | | 111,499 | | |
| Total Russia | | | | | | | | | | | 302,078 | | |
| Spain — 0.5% | | | |
| Befesa SA | | | | | 285 | | | | | | 21,207 | | |
| Ebro Foods SA | | | | | 3,006 | | | | | | 59,694 | | |
| Repsol SA | | | | | 6,489 | | | | | | 83,024 | | |
| Total Spain | | | | | | | | | | | 163,925 | | |
| Sweden — 0.9% | | | |
| AAK AB | | | | | 4,489 | | | | | | 98,106 | | |
| Boliden AB | | | | | 2,418 | | | | | | 85,278 | | |
| Holmen AB, B Shares | | | | | 2,198 | | | | | | 97,456 | | |
| Total Sweden | | | | | | | | | | | 280,840 | | |
| Switzerland — 0.1% | | | |
| Bell Food Group AG | | | | | 118 | | | | | | 37,967 | | |
| Turkey — 0.0%(c) | | | |
Eldorado Gold Corp.* | | | | | 1,462 | | | | | | 13,057 | | |
| Ukraine — 0.1% | | | |
| Ferrexpo PLC | | | | | 4,414 | | | | | | 18,878 | | |
| United Kingdom — 3.0% | | | |
| BP PLC | | | | | 85,901 | | | | | | 412,356 | | |
| Cranswick PLC | | | | | 939 | | | | | | 44,535 | | |
| Greggs PLC | | | | | 1,760 | | | | | | 73,702 | | |
| Pennon Group PLC | | | | | 1,334 | | | | | | 21,321 | | |
| Severn Trent PLC | | | | | 4,204 | | | | | | 157,781 | | |
| Spirax-Sarco Engineering PLC | | | | | 365 | | | | | | 78,075 | | |
| Tate & Lyle PLC | | | | | 8,242 | | | | | | 73,232 | | |
| United Utilities Group PLC | | | | | 3,348 | | | | | | 47,660 | | |
| Total United Kingdom | | | | | | | | | | | 908,662 | | |
| United States — 40.2% | | | |
| Alcoa Corp. | | | | | 1,160 | | | | | | 53,302 | | |
Allegheny Technologies, Inc.* | | | | | 977 | | | | | | 15,730 | | |
| American Water Works Co., Inc. | | | | | 893 | | | | | | 155,543 | | |
| Archer-Daniels-Midland Co. | | | | | 10,186 | | | | | | 654,349 | | |
| Armstrong World Industries, Inc. | | | | | 613 | | | | | | 64,763 | | |
B&G Foods, Inc.(a) | | | | | 1,158 | | | | | | 34,092 | | |
Baker Hughes Co.(a) | | | | | 3,457 | | | | | | 86,702 | | |
Builders FirstSource, Inc.* | | | | | 1,462 | | | | | | 85,191 | | |
| Bunge Ltd. | | | | | 2,493 | | | | | | 230,952 | | |
| Campbell Soup Co. | | | | | 5,393 | | | | | | 215,450 | | |
Cheniere Energy, Inc.* | | | | | 996 | | | | | | 102,986 | | |
| Chevron Corp. | | | | | 7,746 | | | | | | 886,840 | | |
Cleveland-Cliffs, Inc.*(a) | | | | | 2,615 | | | | | | 63,048 | | |
Coeur Mining, Inc.* | | | | | 2,092 | | | | | | 13,242 | | |
| Commercial Metals Co. | | | | | 813 | | | | | | 26,162 | | |
| Conagra Brands, Inc. | | | | | 8,063 | | | | | | 259,629 | | |
See notes to financial statements.
Schedule of Investments — IQ Global Resources ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| United States (continued) | | | |
| ConocoPhillips | | | | | 4,424 | | | | | $ | 329,544 | | |
| Diamondback Energy, Inc. | | | | | 2,668 | | | | | | 285,983 | | |
| Dover Corp. | | | | | 673 | | | | | | 113,791 | | |
| Ecolab, Inc. | | | | | 1,454 | | | | | | 323,108 | | |
| EOG Resources, Inc. | | | | | 2,191 | | | | | | 202,580 | | |
| Essential Utilities, Inc. | | | | | 1,199 | | | | | | 56,437 | | |
| Exxon Mobil Corp. | | | | | 17,382 | | | | | | 1,120,618 | | |
| Flowers Foods, Inc. | | | | | 3,570 | | | | | | 88,357 | | |
| FMC Corp. | | | | | 2,195 | | | | | | 199,767 | | |
| Freeport-McMoRan, Inc. | | | | | 12,394 | | | | | | 467,502 | | |
| General Mills, Inc. | | | | | 10,133 | | | | | | 626,219 | | |
| Graco, Inc. | | | | | 851 | | | | | | 63,978 | | |
Hain Celestial Group, Inc. (The)* | | | | | 1,782 | | | | | | 79,958 | | |
| Halliburton Co. | | | | | 3,778 | | | | | | 94,412 | | |
| Hecla Mining Co. | | | | | 5,248 | | | | | | 30,333 | | |
| Hess Corp. | | | | | 1,198 | | | | | | 98,919 | | |
| Hormel Foods Corp. | | | | | 9,844 | | | | | | 416,598 | | |
| IDEX Corp. | | | | | 366 | | | | | | 81,461 | | |
| Ingredion, Inc. | | | | | 1,233 | | | | | | 117,419 | | |
| International Paper Co. | | | | | 4,846 | | | | | | 240,701 | | |
J&J Snack Foods Corp.(a) | | | | | 355 | | | | | | 52,380 | | |
| John Bean Technologies Corp. | | | | | 646 | | | | | | 95,446 | | |
| Kellogg Co. | | | | | 5,733 | | | | | | 351,433 | | |
| Kinder Morgan, Inc. | | | | | 8,428 | | | | | | 141,169 | | |
| Louisiana-Pacific Corp. | | | | | 1,223 | | | | | | 72,071 | | |
| Marathon Petroleum Corp. | | | | | 2,801 | | | | | | 184,670 | | |
| Mosaic Co. (The) | | | | | 6,508 | | | | | | 270,538 | | |
| Newmont Corp. | | | | | 6,207 | | | | | | 335,178 | | |
| Nucor Corp. | | | | | 1,859 | | | | | | 207,557 | | |
| Occidental Petroleum Corp. | | | | | 3,927 | | | | | | 131,672 | | |
| ONEOK, Inc. | | | | | 1,639 | | | | | | 104,273 | | |
Pentair PLC(a) | | | | | 776 | | | | | | 57,401 | | |
| Phillips 66 | | | | | 1,876 | | | | | | 140,287 | | |
Pilgrim’s Pride Corp.* | | | | | 4,308 | | | | | | 121,313 | | |
| Pioneer Natural Resources Co. | | | | | 651 | | | | | | 121,724 | | |
Post Holdings, Inc.* | | | | | 1,079 | | | | | | 109,497 | | |
| Reliance Steel & Aluminum Co. | | | | | 456 | | | | | | 66,649 | | |
| Sanderson Farms, Inc. | | | | | 407 | | | | | | 77,106 | | |
| Schlumberger NV | | | | | 5,974 | | | | | | 192,721 | | |
| Seaboard Corp. | | | | | 20 | | | | | | 77,000 | | |
| Simpson Manufacturing Co., Inc. | | | | | 545 | | | | | | 57,819 | | |
| Steel Dynamics, Inc. | | | | | 1,424 | | | | | | 94,098 | | |
Sunrun, Inc.*(a) | | | | | 879 | | | | | | 50,701 | | |
| Tyson Foods, Inc., Class A | | | | | 6,088 | | | | | | 486,857 | | |
| UFP Industries, Inc. | | | | | 659 | | | | | | 53,926 | | |
United States Steel Corp.(a) | | | | | 1,155 | | | | | | 30,480 | | |
| Valero Energy Corp. | | | | | 1,852 | | | | | | 143,215 | | |
| Williams Cos., Inc. (The) | | | | | 4,931 | | | | | | 138,512 | | |
| Xylem, Inc. | | | | | 886 | | | | | | 115,703 | | |
| Total United States | | | | | | | | | | | 12,067,062 | | |
| Zambia — 0.5% | | | | | | | | | | | | | |
| First Quantum Minerals Ltd. | | | | | 6,409 | | | | | | 151,493 | | |
| Total Common Stocks | | | | | | | | | | | | | |
| (Cost $27,036,833) | | | | | | | | | | | 29,978,602 | | |
| |
| | | | Shares | | | Value | |
| Short-Term Investment — 1.4% | | | |
| Money Market Fund — 1.4% | | | |
Dreyfus Government Cash Management Fund, Institutional Shares, 0.03%(d)(e) | | | |
| (Cost $430,838) | | | | | 430,838 | | | | | $ | 430,838 | | |
| Total Investments — 101.2% | | | | | | | | | | | | | |
| (Cost $27,467,671) | | | | | | | | | | | 30,409,440 | | |
Other Assets and Liabilities,
Net — (1.2)% | | | | | | | | | | | (357,397) | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 30,052,043 | | |
| |
*
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 $727,385; total market value of collateral held by the Fund was $765,405. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $334,567.
(b)
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.
(c)
Less than 0.05%.
(d)
Reflects the 1-day yield at October 31, 2021.
(e)
Represents security purchased with cash collateral received for securities on loan.
See notes to financial statements.
Schedule of Investments — IQ Global Resources ETF (continued)
October 31, 2021 (unaudited)
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investments in Securities:(f) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | | | $ | 29,973,953 | | | | | $ | — | | | | | $ | 4,649(g) | | | | | $ | 29,978,602 | | |
| Short-Term Investment: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Money Market Fund | | | | | 430,838 | | | | | | — | | | | | | — | | | | | | 430,838 | | |
| Total Investments in Securities | | | | $ | 30,404,791 | | | | | $ | — | | | | | $ | 4,649 | | | | | $ | 30,409,440 | | |
(f)
For a complete listing of investments and their countries, see the Schedule of Investments.
(g)
The Level 3 security, valued at $4,649, has been fair valued in good faith in accordance with procedures established by the Board of Trustees.
A reconciliation of assets in which Level 3 inputs are used in determining fair value is presented when there are significant Level 3 financial instruments at the beginning and/or end of the period.
A summary of the Fund’s transactions with affiliated fund during the period ended October 31, 2021 is as follows:
Affiliated Holdings
| | | | Shares at
04/30/2021 | | | Value
($) at
04/30/2021 | | | Purchases
Cost
($) | | | Sales
Proceeds
($) | | | Net
Realized
Gain/
(Loss)
($) | | | Net
Change in
Unrealized
Appreciation/
(Depreciation)
($) | | | Income
Distributions
($) | | | Capital
Gain
Distributions
($) | | | Shares at
10/31/2021 | | | Value
($) at
10/31/2021 | |
IQ Ultra Short Duration
ETF | | | | | 19,464 | | | | | | 965,609 | | | | | | 226,968 | | | | | | (1,188,652) | | | | | | (7,100) | | | | | | 3,175 | | | | | | 4,089 | | | | | | — | | | | | | — | | | | | | — | | |
For more information on the determination, please refer to Note 6.
See notes to financial statements.
Schedule of Investments — IQ U.S. Real Estate Small Cap ETF
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks — 99.7% | |
| Diversified REITs — 15.5% | |
| Alexander & Baldwin, Inc. | | | | | 24,379 | | | | | $ | 598,017 | | |
| American Assets Trust, Inc. | | | | | 17,631 | | | | | | 666,981 | | |
| Broadstone Net Lease, Inc. | | | | | 55,361 | | | | | | 1,472,049 | | |
| Empire State Realty Trust, Inc., Class A | | | | | 61,832 | | | | | | 598,534 | | |
| Gladstone Commercial Corp. | | | | | 12,944 | | | | | | 282,956 | | |
| Granite Point Mortgage Trust, Inc. | | | | | 19,315 | | | | | | 258,821 | | |
| Industrial Logistics Properties Trust | | | | | 23,087 | | | | | | 648,514 | | |
| Kennedy-Wilson Holdings, Inc. | | | | | 43,200 | | | | | | 966,384 | | |
Monmouth Real Estate Investment
Corp. | | | | | 33,090 | | | | | | 623,746 | | |
Preferred Apartment Communities,
Inc. | | | | | 18,291 | | | | | | 230,650 | | |
| Redwood Trust, Inc. | | | | | 40,158 | | | | | | 544,542 | | |
| Washington Real Estate Investment Trust | | | | | 30,021 | | | | | | 761,032 | | |
| Total Diversified REITs | | | | | | | | | | | 7,652,226 | | |
| Hotel REITs — 12.5% | |
| Apple Hospitality REIT, Inc. | | | | | 76,387 | | | | | | 1,200,040 | | |
Ashford Hospitality Trust, Inc.*(a) | | | | | 10,666 | | | | | | 150,711 | | |
Braemar Hotels & Resorts, Inc.* | | | | | 20,280 | | | | | | 103,022 | | |
Chatham Lodging Trust* | | | | | 17,051 | | | | | | 216,377 | | |
DiamondRock Hospitality Co.* | | | | | 73,829 | | | | | | 667,414 | | |
Hersha Hospitality Trust* | | | | | 13,595 | | | | | | 121,403 | | |
| Pebblebrook Hotel Trust | | | | | 46,461 | | | | | | 1,043,514 | | |
| Service Properties Trust | | | | | 57,724 | | | | | | 621,688 | | |
Summit Hotel Properties, Inc.* | | | | | 37,120 | | | | | | 371,200 | | |
Sunstone Hotel Investors, Inc.* | | | | | 77,417 | | | | | | 955,326 | | |
Xenia Hotels & Resorts, Inc.* | | | | | 40,601 | | | | | | 722,698 | | |
| Total Hotel REITs | | | | | | | | | | | 6,173,393 | | |
| Mortgage REITs — 15.8% | |
Apollo Commercial Real Estate Finance,
Inc. | | | | | 49,830 | | | | | | 754,426 | | |
| Arbor Realty Trust, Inc. | | | | | 48,689 | | | | | | 979,136 | | |
| ARMOUR Residential REIT, Inc. | | | | | 29,233 | | | | | | 307,531 | | |
| Chimera Investment Corp. | | | | | 82,662 | | | | | | 1,290,354 | | |
| Dynex Capital, Inc. | | | | | 12,031 | | | | | | 210,542 | | |
Invesco Mortgage Capital, Inc.(a) | | | | | 103,501 | | | | | | 324,993 | | |
iStar, Inc.(a) | | | | | 24,571 | | | | | | 620,172 | | |
| KKR Real Estate Finance Trust, Inc. | | | | | 13,759 | | | | | | 298,708 | | |
| MFA Financial, Inc. | | | | | 156,718 | | | | | | 706,798 | | |
| New York Mortgage Trust, Inc. | | | | | 134,905 | | | | | | 592,233 | | |
| Orchid Island Capital, Inc. | | | | | 44,280 | | | | | | 219,629 | | |
| PennyMac Mortgage Investment Trust | | | | | 34,353 | | | | | | 692,213 | | |
Two Harbors Investment Corp.(a) | | | | | 111,717 | | | | | | 717,223 | | |
Western Asset Mortgage Capital
Corp. | | | | | 21,130 | | | | | | 53,248 | | |
| Total Mortgage REITs | | | | | | | | | | | 7,767,206 | | |
| Office REITs — 13.6% | |
| Brandywine Realty Trust | | | | | 60,267 | | | | | | 798,538 | | |
| City Office REIT, Inc. | | | | | 15,179 | | | | | | 287,946 | | |
| Corporate Office Properties Trust | | | | | 40,020 | | | | | | 1,085,342 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Office REITs (continued) | |
| Easterly Government Properties, Inc. | | | | | 32,219 | | | | | $ | 677,566 | | |
| Franklin Street Properties Corp. | | | | | 34,497 | | | | | | 155,236 | | |
| Global Net Lease, Inc. | | | | | 35,090 | | | | | | 562,142 | | |
| Lexington Realty Trust | | | | | 97,521 | | | | | | 1,420,881 | | |
Mack-Cali Realty Corp.* | | | | | 28,397 | | | | | | 516,541 | | |
| Office Properties Income Trust | | | | | 17,002 | | | | | | 435,591 | | |
| Piedmont Office Realty Trust, Inc., Class A | | | | | 43,818 | | | | | | 778,208 | | |
| Total Office REITs | | | | | | | | | | | 6,717,991 | | |
| Residential REITs — 6.4% | |
| Apartment Investment and Management Co., Class A | | | | | 52,466 | | | | | | 397,692 | | |
| Bluerock Residential Growth REIT, Inc. | | | | | 9,433 | | | | | | 127,629 | | |
| Essential Properties Realty Trust, Inc. | | | | | 41,996 | | | | | | 1,251,061 | | |
| Independence Realty Trust, Inc. | | | | | 43,299 | | | | | | 1,023,155 | | |
| UMH Properties, Inc. | | | | | 15,202 | | | | | | 363,936 | | |
| Total Residential REITs | | | | | | | | | | | 3,163,473 | | |
| Retail REITs — 17.1% | |
| Acadia Realty Trust | | | | | 31,463 | | | | | | 672,679 | | |
| Four Corners Property Trust, Inc. | | | | | 27,033 | | | | | | 783,957 | | |
| Kite Realty Group Trust | | | | | 77,519 | | | | | | 1,573,636 | | |
| Macerich Co. (The) | | | | | 73,296 | | | | | | 1,325,925 | | |
Pennsylvania Real Estate Investment Trust* | | | | | 21,780 | | | | | | 37,026 | | |
| Phillips Edison & Co., Inc. | | | | | 7,124 | | | | | | 214,717 | | |
| Retail Opportunity Investments Corp. | | | | | 42,386 | | | | | | 753,199 | | |
| RPT Realty | | | | | 28,605 | | | | | | 380,160 | | |
Seritage Growth Properties, Class A* | | | | | 11,014 | | | | | | 169,616 | | |
| SITE Centers Corp. | | | | | 64,434 | | | | | | 1,023,856 | | |
| Tanger Factory Outlet Centers, Inc. | | | | | 36,293 | | | | | | 609,722 | | |
| Urban Edge Properties | | | | | 40,500 | | | | | | 709,965 | | |
| Whitestone REIT | | | | | 15,322 | | | | | | 140,656 | | |
| Total Retail REITs | | | | | | | | | | | 8,395,114 | | |
| Specialized REITs — 18.8% | |
| American Finance Trust, Inc. | | | | | 42,045 | | | | | | 348,133 | | |
| CareTrust REIT, Inc. | | | | | 34,142 | | | | | | 708,446 | | |
| CatchMark Timber Trust, Inc., Class A | | | | | 17,300 | | | | | | 148,088 | | |
| Diversified Healthcare Trust | | | | | 84,358 | | | | | | 307,063 | | |
| EPR Properties | | | | | 26,476 | | | | | | 1,329,360 | | |
| Global Medical REIT, Inc. | | | | | 21,671 | | | | | | 359,305 | | |
| LTC Properties, Inc. | | | | | 13,822 | | | | | | 440,369 | | |
| National Health Investors, Inc. | | | | | 15,684 | | | | | | 843,486 | | |
| National Storage Affiliates Trust | | | | | 29,293 | | | | | | 1,829,641 | | |
| Physicians Realty Trust | | | | | 77,354 | | | | | | 1,470,500 | | |
| Plymouth Industrial REIT, Inc. | | | | | 10,745 | | | | | | 274,642 | | |
| Uniti Group, Inc. | | | | | 82,575 | | | | | | 1,181,648 | | |
| Total Specialized REITs | | | | | | | | | | | 9,240,681 | | |
Total Common Stocks
(Cost $47,828,788) | | | | | | | | | | | 49,110,084 | | |
| |
See notes to financial statements.
Schedule of Investments — IQ U.S. Real Estate Small Cap ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Short-Term Investments — 0.9% | |
| Money Market Funds — 0.9% | |
Dreyfus Government Cash Management Fund, Institutional Shares, 0.03%(b)(c) | | | | | 329,648 | | | | | $ | 329,648 | | |
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 0.01%(b) | | | | | 115,301 | | | | | | 115,301 | | |
Total Short-Term Investments
(Cost $444,949) | | | | | | | | | | | 444,949 | | |
Total Investments — 100.6%
(Cost $48,273,737) | | | | | | | | | | | 49,555,033 | | |
Other Assets and Liabilities,
Net — (0.6)% | | | | | | | | | | | (304,721) | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 49,250,312 | | |
| |
*
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 $1,779,137; total market value of collateral held by the Fund was $1,825,134. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $1,495,486.
(b)
Reflects the 1-day yield at October 31, 2021.
(c)
Represents security purchased with cash collateral received for securities on loan.
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investments in Securities:(d) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | | | $ | 49,110,084 | | | | | $ | — | | | | | $ | — | | | | | $ | 49,110,084 | | |
| Short-Term Investments: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Money Market Funds | | | | | 444,949 | | | | | | — | | | | | | — | | | | | | 444,949 | | |
| Total Investments in Securities | | | | $ | 49,555,033 | | | | | $ | — | | | | | $ | — | | | | | $ | 49,555,033 | | |
(d)
For a complete listing of investments and their industries, see the Schedule of Investments.
For the period ended October 31, 2021, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 2)
See notes to financial statements.
Schedule of Investments — IQ 50 Percent Hedged FTSE International ETF
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks — 99.0% | |
| Australia — 7.6% | |
Afterpay Ltd.* | | | | | 3,978 | | | | | $ | 368,375 | | |
| APA Group | | | | | 24,908 | | | | | | 153,409 | | |
| Aristocrat Leisure Ltd. | | | | | 12,959 | | | | | | 454,360 | | |
| ASX Ltd. | | | | | 3,929 | | | | | | 244,998 | | |
| Aurizon Holdings Ltd. | | | | | 44,695 | | | | | | 113,132 | | |
Australia & New Zealand Banking Group
Ltd. | | | | | 48,674 | | | | | | 1,028,772 | | |
| BHP Group Ltd. | | | | | 49,248 | | | | | | 1,353,101 | | |
| BHP Group PLC | | | | | 35,208 | | | | | | 933,857 | | |
| BlueScope Steel Ltd. | | | | | 9,869 | | | | | | 152,848 | | |
| Brambles Ltd. | | | | | 29,170 | | | | | | 219,972 | | |
| Charter Hall Group | | | | | 13,281 | | | | | | 172,873 | | |
| Cochlear Ltd. | | | | | 1,254 | | | | | | 207,628 | | |
| Coles Group Ltd. | | | | | 23,390 | | | | | | 301,120 | | |
| Commonwealth Bank of Australia | | | | | 28,888 | | | | | | 2,271,324 | | |
| Computershare Ltd. | | | | | 14,441 | | | | | | 203,483 | | |
| CSL Ltd. | | | | | 7,731 | | | | | | 1,744,872 | | |
| Dexus | | | | | 28,523 | | | | | | 232,875 | | |
| Domino’s Pizza Enterprises Ltd. | | | | | 1,298 | | | | | | 132,064 | | |
| Endeavour Group Ltd. | | | | | 22,635 | | | | | | 115,608 | | |
| Fortescue Metals Group Ltd. | | | | | 28,118 | | | | | | 294,194 | | |
Glencore PLC* | | | | | 224,473 | | | | | | 1,123,860 | | |
| Goodman Group | | | | | 33,927 | | | | | | 558,069 | | |
| GPT Group (The) | | | | | 50,862 | | | | | | 197,125 | | |
| Incitec Pivot Ltd. | | | | | 47,721 | | | | | | 107,171 | | |
| Insurance Australia Group Ltd. | | | | | 49,298 | | | | | | 177,733 | | |
| Lendlease Corp., Ltd. | | | | | 13,742 | | | | | | 107,964 | | |
| Macquarie Group Ltd. | | | | | 6,033 | | | | | | 896,445 | | |
| Medibank Pvt Ltd. | | | | | 66,330 | | | | | | 165,404 | | |
| Mineral Resources Ltd. | | | | | 2,789 | | | | | | 80,839 | | |
| Mirvac Group | | | | | 95,171 | | | | | | 201,582 | | |
| National Australia Bank Ltd. | | | | | 55,786 | | | | | | 1,202,974 | | |
| Newcrest Mining Ltd. | | | | | 14,992 | | | | | | 280,274 | | |
| Northern Star Resources Ltd. | | | | | 21,838 | | | | | | 151,559 | | |
| Oil Search Ltd. | | | | | 43,708 | | | | | | 140,837 | | |
| Origin Energy Ltd. | | | | | 38,104 | | | | | | 144,531 | | |
| OZ Minerals Ltd. | | | | | 7,787 | | | | | | 146,981 | | |
| QBE Insurance Group Ltd. | | | | | 28,316 | | | | | | 251,602 | | |
| Ramsay Health Care Ltd. | | | | | 3,748 | | | | | | 198,241 | | |
| Rio Tinto Ltd. | | | | | 6,244 | | | | | | 423,448 | | |
| Rio Tinto PLC | | | | | 18,386 | | | | | | 1,149,364 | | |
| Santos Ltd. | | | | | 36,818 | | | | | | 193,025 | | |
| Scentre Group | | | | | 115,940 | | | | | | 262,989 | | |
| SEEK Ltd. | | | | | 8,559 | | | | | | 210,218 | | |
| Shopping Centres Australasia Property Group | | | | | 57,518 | | | | | | 120,101 | | |
| Sonic Healthcare Ltd. | | | | | 10,201 | | | | | | 306,709 | | |
| South32 Ltd. | | | | | 89,080 | | | | | | 238,862 | | |
| Stockland | | | | | 56,328 | | | | | | 192,501 | | |
| Suncorp Group Ltd. | | | | | 26,339 | | | | | | 231,860 | | |
Sydney Airport* | | | | | 29,309 | | | | | | 180,295 | | |
| Tabcorp Holdings Ltd. | | | | | 54,542 | | | | | | 203,194 | | |
| Telstra Corp., Ltd. | | | | | 80,304 | | | | | | 230,409 | | |
| Transurban Group | | | | | 49,645 | | | | | | 501,156 | | |
| Treasury Wine Estates Ltd. | | | | | 14,965 | | | | | | 129,487 | | |
| Vicinity Centres | | | | | 109,900 | | | | | | 142,392 | | |
| Wesfarmers Ltd. | | | | | 20,018 | | | | | | 860,784 | | |
| | | | Shares | | | Value | | | |
| Common Stocks (continued) | | | |
| Australia (continued) | | | |
| Westpac Banking Corp. | | | | | 61,371 | | | | | $ | 1,183,279 | | | | |
| Woodside Petroleum Ltd. | | | | | 18,746 | | | | | | 327,504 | | | | |
| Woolworths Group Ltd. | | | | | 21,188 | | | | | | 606,017 | | | | |
| Total Australia | | | | | | | | | | | 24,525,650 | | | | |
| Austria — 0.3% | | | |
ams AG* | | | | | 4,957 | | | | | | 98,136 | | | | |
| Erste Group Bank AG | | | | | 6,557 | | | | | | 281,518 | | | | |
| Mondi PLC | | | | | 9,013 | | | | | | 225,471 | | | | |
| OMV AG | | | | | 4,213 | | | | | | 255,476 | | | | |
| Verbund AG | | | | | 1,059 | | | | | | 110,420 | | | | |
| Total Austria | | | | | | | | | | | 971,021 | | | | |
| Belgium — 0.8% | | | | | | | |
| Ageas SA | | | | | 4,237 | | | | | | 206,428 | | | | |
| Anheuser-Busch InBev SA | | | | | 14,455 | | | | | | 882,739 | | | | |
| Groupe Bruxelles Lambert SA | | | | | 2,328 | | | | | | 270,081 | | | | |
| KBC Group NV | | | | | 5,027 | | | | | | 468,657 | | | | |
| Solvay SA | | | | | 1,586 | | | | | | 188,679 | | | | |
| UCB SA | | | | | 2,511 | | | | | | 299,593 | | | | |
| Umicore SA | | | | | 4,047 | | | | | | 232,202 | | | | |
| Warehouses De Pauw CVA | | | | | 3,422 | | | | | | 156,028 | | | | |
| Total Belgium | | | | | | | | | | | 2,704,407 | | | | |
| Brazil — 0.0%(a) | | | |
| Yara International ASA | | | | | 2,717 | | | | | | 141,578 | | | | |
| Chile — 0.0%(a) | | | |
Antofagasta PLC(b) | | | | | 6,504 | | | | | | 127,088 | | | | |
| China — 0.8% | | | |
| AAC Technologies Holdings, Inc. | | | | | 15,284 | | | | | | 66,704 | | | | |
BeiGene Ltd.* | | | | | 10,609 | | | | | | 297,034 | | | | |
| BOC Hong Kong Holdings Ltd. | | | | | 70,506 | | | | | | 223,870 | | | | |
ESR Cayman Ltd.* | | | | | 39,670 | | | | | | 128,765 | | | | |
| Lenovo Group Ltd. | | | | | 146,579 | | | | | | 159,410 | | | | |
Prosus NV* | | | | | 14,709 | | | | | | 1,297,245 | | | | |
| SITC International Holdings Co., Ltd. | | | | | 23,312 | | | | | | 78,965 | | | | |
| Want Want China Holdings Ltd. | | | | | 144,260 | | | | | | 111,824 | | | | |
| Wilmar International Ltd. | | | | | 28,855 | | | | | | 92,439 | | | | |
| Total China | | | | | | | | | | | 2,456,256 | | | | |
| Denmark — 2.4% | | | |
Ambu A/S, Class B(b) | | | | | 3,295 | | | | | | 93,955 | | | | |
| AP Moller — Maersk A/S, Class B | | | | | 160 | | | | | | 462,825 | | | | |
| Carlsberg A/S, Class B | | | | | 1,880 | | | | | | 310,441 | | | | |
Chr Hansen Holding A/S(b) | | | | | 1,881 | | | | | | 149,816 | | | | |
| Coloplast A/S, Class B | | | | | 2,378 | | | | | | 388,050 | | | | |
| Danske Bank A/S | | | | | 11,446 | | | | | | 193,902 | | | | |
Demant A/S* | | | | | 1,895 | | | | | | 91,886 | | | | |
| DSV A/S | | | | | 3,413 | | | | | | 794,005 | | | | |
Genmab A/S* | | | | | 1,084 | | | | | | 486,323 | | | | |
| GN Store Nord A/S | | | | | 2,379 | | | | | | 144,516 | | | | |
| Novo Nordisk A/S, Class B | | | | | 26,520 | | | | | | 2,905,572 | | | | |
| Novozymes A/S, Class B | | | | | 3,538 | | | | | | 260,437 | | | | |
| Orsted A/S | | | | | 3,104 | | | | | | 438,438 | | | | |
| Pandora A/S | | | | | 1,792 | | | | | | 250,498 | | | | |
| SimCorp A/S | | | | | 880 | | | | | | 106,421 | | | | |
See notes to financial statements.
Schedule of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | | | |
| Common Stocks (continued) | | | |
| Denmark (continued) | | | |
| Vestas Wind Systems A/S | | | | | 17,132 | | | | | $ | 741,689 | | | | |
| Total Denmark | | | | | | | | | | | 7,818,774 | | | | |
| Finland — 1.3% | | | |
| Elisa OYJ | | | | | 3,026 | | | | | | 182,726 | | | | |
| Fortum OYJ | | | | | 8,340 | | | | | | 248,042 | | | | |
Kesko OYJ, Class B(b) | | | | | 5,661 | | | | | | 184,023 | | | | |
| Kone OYJ, Class B | | | | | 6,699 | | | | | | 457,082 | | | | |
| Metso Outotec OYJ | | | | | 12,781 | | | | | | 128,384 | | | | |
| Neste OYJ | | | | | 7,286 | | | | | | 406,325 | | | | |
Nokia OYJ* | | | | | 97,496 | | | | | | 560,751 | | | | |
| Nordea Bank Abp | | | | | 61,585 | | | | | | 753,601 | | | | |
| Sampo OYJ, Class A | | | | | 9,192 | | | | | | 489,322 | | | | |
| Stora Enso OYJ, Class R | | | | | 11,218 | | | | | | 186,681 | | | | |
| UPM-Kymmene OYJ | | | | | 9,709 | | | | | | 342,915 | | | | |
| Wartsila OYJ Abp | | | | | 9,610 | | | | | | 133,398 | | | | |
| Total Finland | | | | | | | | | | | 4,073,250 | | | | |
| France — 9.2% | | | | | | | |
Accor SA* | | | | | 4,650 | | | | | | 166,333 | | | | |
Adevinta ASA* | | | | | 4,495 | | | | | | 73,887 | | | | |
| Air Liquide SA | | | | | 7,713 | | | | | | 1,287,467 | | | | |
Airbus SE* | | | | | 9,392 | | | | | | 1,202,099 | | | | |
| Alstom SA | | | | | 5,225 | | | | | | 186,115 | | | | |
| Arkema SA | | | | | 1,366 | | | | | | 186,851 | | | | |
| AXA SA | | | | | 32,887 | | | | | | 957,551 | | | | |
| BNP Paribas SA | | | | | 18,541 | | | | | | 1,242,335 | | | | |
| Bouygues SA | | | | | 4,097 | | | | | | 165,944 | | | | |
| Bureau Veritas SA | | | | | 6,602 | | | | | | 209,799 | | | | |
| Capgemini SE | | | | | 2,761 | | | | | | 643,187 | | | | |
| Carrefour SA | | | | | 10,863 | | | | | | 196,802 | | | | |
| Cie de Saint-Gobain | | | | | 8,321 | | | | | | 573,531 | | | | |
Cie Generale des Etablissements
Michelin | | | | | 3,045 | | | | | | 478,183 | | | | |
| Credit Agricole SA | | | | | 20,206 | | | | | | 304,919 | | | | |
| Danone SA | | | | | 10,032 | | | | | | 654,197 | | | | |
| Dassault Systemes SE | | | | | 11,646 | | | | | | 678,988 | | | | |
| Edenred | | | | | 4,786 | | | | | | 259,040 | | | | |
| Eiffage SA | | | | | 1,404 | | | | | | 144,540 | | | | |
| Engie SA | | | | | 28,922 | | | | | | 411,547 | | | | |
| EssilorLuxottica SA | | | | | 5,015 | | | | | | 1,038,265 | | | | |
| Faurecia SE | | | | | 2,107 | | | | | | 109,847 | | | | |
| Gecina SA | | | | | 1,225 | | | | | | 171,604 | | | | |
| Getlink SE | | | | | 9,477 | | | | | | 145,700 | | | | |
| Hermes International | | | | | 529 | | | | | | 838,999 | | | | |
| Kering SA | | | | | 1,247 | | | | | | 935,411 | | | | |
Klepierre SA* | | | | | 4,448 | | | | | | 105,831 | | | | |
| Legrand SA | | | | | 4,726 | | | | | | 515,414 | | | | |
| L’Oreal SA | | | | | 3,961 | | | | | | 1,810,397 | | | | |
| LVMH Moet Hennessy Louis Vuitton SE | | | | | 4,150 | | | | | | 3,252,310 | | | | |
| Orange SA | | | | | 32,833 | | | | | | 358,492 | | | | |
| Orpea | | | | | 1,101 | | | | | | 114,927 | | | | |
| Pernod Ricard SA | | | | | 3,602 | | | | | | 828,263 | | | | |
| Publicis Groupe SA | | | | | 4,257 | | | | | | 285,436 | | | | |
Renault SA* | | | | | 3,400 | | | | | | 122,210 | | | | |
Rexel SA* | | | | | 6,562 | | | | | | 130,311 | | | | |
| Rubis SCA | | | | | 2,082 | | | | | | 66,716 | | | | |
| Safran SA | | | | | 6,035 | | | | | | 810,423 | | | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| France (continued) | |
| Sanofi | | | | | 18,239 | | | | | $ | 1,824,284 | | |
| Sartorius Stedim Biotech | | | | | 434 | | | | | | 239,170 | | |
| SCOR SE | | | | | 3,345 | | | | | | 112,646 | | |
| Societe Generale SA | | | | | 13,691 | | | | | | 456,859 | | |
Sodexo SA* | | | | | 1,720 | | | | | | 167,199 | | |
| SOITEC* | | | | | 381 | | | | | | 101,322 | | |
| Suez SA | | | | | 6,510 | | | | | | 148,301 | | |
| Teleperformance | | | | | 1,057 | | | | | | 441,702 | | |
| Thales SA | | | | | 1,975 | | | | | | 182,068 | | |
| TotalEnergies SE | | | | | 41,152 | | | | | | 2,065,415 | | |
Ubisoft Entertainment SA*(b) | | | | | 1,711 | | | | | | 89,558 | | |
| Unibail-Rodamco-Westfield* | | | | | 2,650 | | | | | | 189,553 | | |
| Valeo | | | | | 4,509 | | | | | | 132,173 | | |
| Veolia Environnement SA | | | | | 11,074 | | | | | | 361,778 | | |
| Vinci SA | | | | | 8,670 | | | | | | 926,781 | | |
| Vivendi SE | | | | | 13,430 | | | | | | 173,059 | | |
Worldline SA* | | | | | 4,284 | | | | | | 249,767 | | |
| Total France | | | | | | | | | | | 29,525,506 | | |
| Germany — 7.5% | |
| adidas AG | | | | | 3,294 | | | | | | 1,079,934 | | |
| Allianz SE | | | | | 6,967 | | | | | | 1,621,783 | | |
| Aroundtown SA | | | | | 24,394 | | | | | | 169,662 | | |
| BASF SE | | | | | 15,780 | | | | | | 1,137,320 | | |
| Bayer AG | | | | | 16,586 | | | | | | 934,179 | | |
| Bayerische Motoren Werke AG | | | | | 6,065 | | | | | | 612,313 | | |
| Bechtle AG | | | | | 1,737 | | | | | | 130,257 | | |
| Beiersdorf AG | | | | | 1,903 | | | | | | 202,386 | | |
| Brenntag SE | | | | | 3,142 | | | | | | 299,031 | | |
| Carl Zeiss Meditec AG | | | | | 617 | | | | | | 124,204 | | |
Commerzbank AG* | | | | | 19,774 | | | | | | 144,532 | | |
Continental AG* | | | | | 1,904 | | | | | | 223,689 | | |
| Covestro AG | | | | | 3,329 | | | | | | 213,428 | | |
Daimler AG(b) | | | | | 14,217 | | | | | | 1,410,647 | | |
Deutsche Bank AG* | | | | | 35,302 | | | | | | 455,350 | | |
| Deutsche Boerse AG | | | | | 3,163 | | | | | | 525,631 | | |
| Deutsche Post AG | | | | | 16,607 | | | | | | 1,028,571 | | |
| Deutsche Telekom AG | | | | | 54,890 | | | | | | 1,021,297 | | |
| Deutsche Wohnen SE | | | | | 2,564 | | | | | | 131,417 | | |
| E.ON SE | | | | | 38,402 | | | | | | 487,337 | | |
Fresenius Medical Care AG & Co.
KGaA | | | | | 3,904 | | | | | | 259,599 | | |
| Fresenius SE & Co. KGaA | | | | | 7,547 | | | | | | 342,931 | | |
| GEA Group AG | | | | | 3,555 | | | | | | 175,216 | | |
| Hannover Rueck SE | | | | | 1,187 | | | | | | 217,037 | | |
| HeidelbergCement AG | | | | | 2,826 | | | | | | 213,033 | | |
HelloFresh SE* | | | | | 2,752 | | | | | | 222,932 | | |
| Henkel AG & Co. KGaA | | | | | 1,584 | | | | | | 132,165 | | |
| Infineon Technologies AG | | | | | 22,377 | | | | | | 1,046,060 | | |
| KION Group AG | | | | | 1,576 | | | | | | 172,169 | | |
| Knorr-Bremse AG | | | | | 1,087 | | | | | | 114,648 | | |
| LANXESS AG | | | | | 2,021 | | | | | | 136,259 | | |
| LEG Immobilien SE | | | | | 1,315 | | | | | | 195,777 | | |
| Merck KGaA | | | | | 2,236 | | | | | | 528,390 | | |
| MTU Aero Engines AG | | | | | 1,012 | | | | | | 225,268 | | |
Muenchener Rueckversicherungs-
Gesellschaft AG | | | | | 2,312 | | | | | | 685,479 | | |
| Puma SE | | | | | 1,886 | | | | | | 234,190 | | |
See notes to financial statements.
Schedule of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | | | |
| Common Stocks (continued) | | | |
| Germany (continued) | | | |
| RWE AG | | | | | 11,052 | | | | | $ | 425,521 | | | | |
| SAP SE | | | | | 18,660 | | | | | | 2,706,194 | | | | |
| Scout24 SE | | | | | 1,913 | | | | | | 133,272 | | | | |
| Siemens AG | | | | | 12,617 | | | | | | 2,048,230 | | | | |
Siemens Energy AG* | | | | | 7,233 | | | | | | 207,753 | | | | |
| Siemens Healthineers AG | | | | | 4,486 | | | | | | 298,299 | | | | |
| Symrise AG | | | | | 2,421 | | | | | | 334,943 | | | | |
TeamViewer AG* | | | | | 3,192 | | | | | | 47,652 | | | | |
| United Internet AG | | | | | 2,310 | | | | | | 85,223 | | | | |
Vitesco Technologies Group AG* | | | | | 2 | | | | | | 115 | | | | |
| Vonovia SE | | | | | 9,359 | | | | | | 568,178 | | | | |
Zalando SE* | | | | | 3,999 | | | | | | 377,539 | | | | |
| Total Germany | | | | | | | | | | | 24,087,040 | | | | |
| Hong Kong — 2.4% | | | | | | | |
| AIA Group Ltd. | | | | | 203,750 | | | | | | 2,300,980 | | | | |
| ASM Pacific Technology Ltd. | | | | | 7,294 | | | | | | 78,809 | | | | |
| CK Asset Holdings Ltd. | | | | | 43,303 | | | | | | 267,476 | | | | |
| CLP Holdings Ltd. | | | | | 31,013 | | | | | | 303,590 | | | | |
| Hang Lung Properties Ltd. | | | | | 49,337 | | | | | | 114,542 | | | | |
| Hang Seng Bank Ltd. | | | | | 14,062 | | | | | | 267,536 | | | | |
Henderson Land Development Co.,
Ltd. | | | | | 38,218 | | | | | | 160,162 | | | | |
| Hong Kong & China Gas Co., Ltd. | | | | | 209,559 | | | | | | 325,961 | | | | |
| Hong Kong Exchanges & Clearing Ltd. | | | | | 21,670 | | | | | | 1,311,501 | | | | |
| Hongkong Land Holdings Ltd. | | | | | 27,008 | | | | | | 148,814 | | | | |
| Jardine Matheson Holdings Ltd. | | | | | 3,857 | | | | | | 223,436 | | | | |
| Link REIT | | | | | 39,814 | | | | | | 353,149 | | | | |
| MTR Corp., Ltd. | | | | | 30,253 | | | | | | 164,895 | | | | |
| New World Development Co., Ltd. | | | | | 32,991 | | | | | | 143,134 | | | | |
| Power Assets Holdings Ltd. | | | | | 30,984 | | | | | | 188,994 | | | | |
Sino Land Co., Ltd.(b) | | | | | 89,510 | | | | | | 117,597 | | | | |
| Sun Hung Kai Properties Ltd. | | | | | 27,298 | | | | | | 363,199 | | | | |
| Swire Pacific Ltd., Class A | | | | | 17,623 | | | | | | 110,893 | | | | |
| Techtronic Industries Co., Ltd. | | | | | 22,839 | | | | | | 470,048 | | | | |
| WH Group Ltd. | | | | | 182,429 | | | | | | 128,044 | | | | |
| Wharf Real Estate Investment Co., Ltd. | | | | | 32,974 | | | | | | 186,084 | | | | |
| Xinyi Glass Holdings Ltd. | | | | | 39,364 | | | | | | 111,073 | | | | |
| Total Hong Kong | | | | | | | | | | | 7,839,917 | | | | |
| Ireland — 0.7% | | | | | | | |
| CRH PLC | | | | | 13,475 | | | | | | 647,588 | | | | |
Flutter Entertainment PLC* | | | | | 2,815 | | | | | | 532,302 | | | | |
| Kerry Group PLC, Class A | | | | | 2,700 | | | | | | 362,763 | | | | |
| Kingspan Group PLC | | | | | 2,724 | | | | | | 314,100 | | | | |
| Smurfit Kappa Group PLC | | | | | 4,751 | | | | | | 249,751 | | | | |
| Total Ireland | | | | | | | | | | | 2,106,504 | | | | |
| Israel — 0.6% | | | |
| Bank Hapoalim BM | | | | | 38,291 | | | | | | 377,227 | | | | |
| Bank Leumi Le-Israel BM | | | | | 44,292 | | | | | | 423,299 | | | | |
| ICL Group Ltd. | | | | | 21,025 | | | | | | 180,156 | | | | |
Israel Discount Bank Ltd., Class A* | | | | | 39,321 | | | | | | 237,656 | | | | |
Nice Ltd.* | | | | | 1,378 | | | | | | 388,582 | | | | |
Teva Pharmaceutical Industries Ltd.* | | | | | 20,500 | | | | | | 181,178 | | | | |
Tower Semiconductor Ltd.* | | | | | 3,672 | | | | | | 119,459 | | | | |
| Total Israel | | | | | | | | | | | 1,907,557 | | | | |
| |
| | | | Shares | | | Value | | | |
| Common Stocks (continued) | | | |
| Italy — 2.1% | | | |
| Amplifon SpA | | | | | 2,452 | | | | | $ | 124,711 | | | | |
Assicurazioni Generali SpA(b) | | | | | 23,266 | | | | | | 507,528 | | | | |
Atlantia SpA* | | | | | 10,037 | | | | | | 194,034 | | | | |
| Davide Campari-Milano NV | | | | | 12,076 | | | | | | 171,612 | | | | |
| Enel SpA | | | | | 133,110 | | | | | | 1,114,644 | | | | |
| Eni SpA | | | | | 46,442 | | | | | | 666,653 | | | | |
| Ferrari NV | | | | | 2,190 | | | | | | 519,547 | | | | |
FinecoBank Banca Fineco SpA* | | | | | 11,616 | | | | | | 222,005 | | | | |
| Interpump Group SpA | | | | | 1,347 | | | | | | 99,374 | | | | |
| Intesa Sanpaolo SpA | | | | | 294,394 | | | | | | 837,239 | | | | |
Mediobanca Banca di Credito Finanziario SpA* | | | | | 18,136 | | | | | | 216,490 | | | | |
| Moncler SpA | | | | | 4,283 | | | | | | 307,898 | | | | |
Nexi SpA* | | | | | 11,380 | | | | | | 197,872 | | | | |
| Prysmian SpA | | | | | 5,620 | | | | | | 212,672 | | | | |
| Recordati Industria Chimica e Farmaceutica SpA | | | | | 2,383 | | | | | | 149,248 | | | | |
| Snam SpA | | | | | 45,665 | | | | | | 258,786 | | | | |
| Telecom Italia SpA | | | | | 320,709 | | | | | | 114,348 | | | | |
| Terna — Rete Elettrica Nazionale | | | | | 32,424 | | | | | | 241,721 | | | | |
| UniCredit SpA | | | | | 39,108 | | | | | | 517,024 | | | | |
| Total Italy | | | | | | | | | | | 6,673,406 | | | | |
| Japan — 22.9% | | | | | | | |
| Advantest Corp. | | | | | 3,659 | | | | | | 299,395 | | | | |
| Aeon Co., Ltd. | | | | | 13,186 | | | | | | 302,749 | | | | |
| AGC, Inc. | | | | | 4,542 | | | | | | 225,855 | | | | |
| Air Water, Inc. | | | | | 5,797 | | | | | | 88,563 | | | | |
| Aisin Corp. | | | | | 3,871 | | | | | | 141,396 | | | | |
| Ajinomoto Co., Inc. | | | | | 10,513 | | | | | | 314,030 | | | | |
| Amada Co., Ltd. | | | | | 10,160 | | | | | | 99,974 | | | | |
| Aozora Bank Ltd. | | | | | 4,895 | | | | | | 111,873 | | | | |
| Asahi Group Holdings Ltd. | | | | | 8,360 | | | | | | 378,097 | | | | |
| Asahi Kasei Corp. | | | | | 25,787 | | | | | | 270,591 | | | | |
| Asics Corp. | | | | | 3,842 | | | | | | 95,422 | | | | |
| Astellas Pharma, Inc. | | | | | 34,081 | | | | | | 572,973 | | | | |
| Bandai Namco Holdings, Inc. | | | | | 3,879 | | | | | | 295,522 | | | | |
Bank of Kyoto Ltd. (The)(b) | | | | | 1,914 | | | | | | 85,943 | | | | |
| BayCurrent Consulting, Inc. | | | | | 246 | | | | | | 101,183 | | | | |
| Bridgestone Corp. | | | | | 10,832 | | | | | | 476,788 | | | | |
| Brother Industries Ltd. | | | | | 5,883 | | | | | | 113,404 | | | | |
| Canon, Inc. | | | | | 17,955 | | | | | | 402,797 | | | | |
| Capcom Co., Ltd. | | | | | 3,895 | | | | | | 104,527 | | | | |
| Central Japan Railway Co. | | | | | 3,335 | | | | | | 494,291 | | | | |
| Chubu Electric Power Co., Inc. | | | | | 13,326 | | | | | | 137,789 | | | | |
| Chugai Pharmaceutical Co., Ltd. | | | | | 11,738 | | | | | | 437,196 | | | | |
| Concordia Financial Group Ltd. | | | | | 29,614 | | | | | | 117,651 | | | | |
| CyberAgent, Inc. | | | | | 7,855 | | | | | | 130,888 | | | | |
| Dai Nippon Printing Co., Ltd. | | | | | 7,110 | | | | | | 175,217 | | | | |
| Daifuku Co., Ltd. | | | | | 2,068 | | | | | | 189,525 | | | | |
| Dai-ichi Life Holdings, Inc. | | | | | 20,239 | | | | | | 426,257 | | | | |
| Daiichi Sankyo Co., Ltd. | | | | | 32,273 | | | | | | 811,460 | | | | |
| Daikin Industries Ltd. | | | | | 4,548 | | | | | | 992,762 | | | | |
| Daito Trust Construction Co., Ltd. | | | | | 1,474 | | | | | | 182,529 | | | | |
| Daiwa House Industry Co., Ltd. | | | | | 12,343 | | | | | | 406,039 | | | | |
| Daiwa Securities Group, Inc. | | | | | 33,056 | | | | | | 185,160 | | | | |
| Denso Corp. | | | | | 8,122 | | | | | | 585,724 | | | | |
| Dentsu Group, Inc. | | | | | 4,702 | | | | | | 171,957 | | | | |
See notes to financial statements.
Schedule of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Japan (continued) | |
| Disco Corp. | | | | | 533 | | | | | $ | 143,037 | | |
| East Japan Railway Co. | | | | | 6,783 | | | | | | 421,644 | | |
| Eisai Co., Ltd. | | | | | 4,872 | | | | | | 342,973 | | |
| ENEOS Holdings, Inc. | | | | | 59,473 | | | | | | 239,718 | | |
| FANUC Corp. | | | | | 3,373 | | | | | | 659,957 | | |
| Fast Retailing Co., Ltd. | | | | | 900 | | | | | | 596,001 | | |
| Food & Life Cos. Ltd. | | | | | 2,614 | | | | | | 112,905 | | |
| Fuji Electric Co., Ltd. | | | | | 2,892 | | | | | | 140,764 | | |
| FUJIFILM Holdings Corp. | | | | | 6,313 | | | | | | 487,268 | | |
| Fujitsu Ltd. | | | | | 3,379 | | | | | | 581,564 | | |
| GLP J-Reit | | | | | 97 | | | | | | 158,143 | | |
| Hamamatsu Photonics K.K. | | | | | 3,101 | | | | | | 183,300 | | |
| Hankyu Hanshin Holdings, Inc. | | | | | 5,523 | | | | | | 170,740 | | |
| Hirose Electric Co., Ltd. | | | | | 898 | | | | | | 149,555 | | |
| Hitachi Ltd. | | | | | 16,244 | | | | | | 933,683 | | |
| Honda Motor Co., Ltd. | | | | | 29,643 | | | | | | 870,637 | | |
| Hoya Corp. | | | | | 6,131 | | | | | | 899,285 | | |
| Idemitsu Kosan Co., Ltd. | | | | | 5,569 | | | | | | 152,137 | | |
| Inpex Corp. | | | | | 20,585 | | | | | | 171,865 | | |
| Isuzu Motors Ltd. | | | | | 11,865 | | | | | | 159,102 | | |
| Ito En Ltd. | | | | | 1,528 | | | | | | 101,576 | | |
| ITOCHU Corp. | | | | | 24,510 | | | | | | 696,877 | | |
| Japan Exchange Group, Inc. | | | | | 9,986 | | | | | | 235,889 | | |
| Japan Metropolitan Fund Invest. | | | | | 168 | | | | | | 153,966 | | |
Japan Tobacco, Inc.(b) | | | | | 22,113 | | | | | | 433,533 | | |
| JFE Holdings, Inc. | | | | | 10,566 | | | | | | 161,513 | | |
| JSR Corp. | | | | | 3,888 | | | | | | 140,142 | | |
| Kajima Corp. | | | | | 11,724 | | | | | | 143,947 | | |
| Kakaku.com, Inc. | | | | | 3,253 | | | | | | 107,411 | | |
| Kansai Electric Power Co., Inc. (The) | | | | | 14,194 | | | | | | 130,457 | | |
| Kansai Paint Co., Ltd. | | | | | 4,875 | | | | | | 112,571 | | |
| Kao Corp. | | | | | 8,491 | | | | | | 478,892 | | |
Kawasaki Kisen Kaisha Ltd.* | | | | | 1,561 | | | | | | 75,021 | | |
| KDDI Corp. | | | | | 29,453 | | | | | | 911,293 | | |
| Keio Corp. | | | | | 2,878 | | | | | | 144,878 | | |
| Keisei Electric Railway Co., Ltd. | | | | | 3,799 | | | | | | 121,775 | | |
| Keyence Corp. | | | | | 3,036 | | | | | | 1,824,129 | | |
Kikkoman Corp.(b) | | | | | 3,646 | | | | | | 298,011 | | |
Kintetsu Group Holdings Co., Ltd.* | | | | | 4,318 | | | | | | 135,381 | | |
| Kirin Holdings Co., Ltd. | | | | | 15,050 | | | | | | 261,469 | | |
Kobayashi Pharmaceutical Co., Ltd.(b) | | | | | 1,450 | | | | | | 115,847 | | |
| Koito Manufacturing Co., Ltd. | | | | | 2,471 | | | | | | 139,559 | | |
| Komatsu Ltd. | | | | | 17,568 | | | | | | 457,053 | | |
Konami Holdings Corp.(b) | | | | | 2,067 | | | | | | 113,479 | | |
| Kubota Corp. | | | | | 20,410 | | | | | | 433,617 | | |
Kuraray Co., Ltd.(b) | | | | | 10,083 | | | | | | 91,081 | | |
| Kurita Water Industries Ltd. | | | | | 3,436 | | | | | | 168,749 | | |
| Kyocera Corp. | | | | | 5,746 | | | | | | 335,362 | | |
| Kyowa Kirin Co., Ltd. | | | | | 5,673 | | | | | | 186,073 | | |
| Lasertec Corp. | | | | | 1,384 | | | | | | 303,806 | | |
| Lixil Corp. | | | | | 6,383 | | | | | | 163,682 | | |
| M3, Inc. | | | | | 7,569 | | | | | | 445,278 | | |
| Makita Corp. | | | | | 5,016 | | | | | | 231,521 | | |
| Marubeni Corp. | | | | | 30,612 | | | | | | 258,051 | | |
| Marui Group Co., Ltd. | | | | | 5,894 | | | | | | 115,218 | | |
| MatsukiyoCocokara & Co. | | | | | 1,882 | | | | | | 83,021 | | |
| MEIJI Holdings Co., Ltd. | | | | | 2,873 | | | | | | 181,161 | | |
| MINEBEA MITSUMI, Inc. | | | | | 8,065 | | | | | | 203,349 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Japan (continued) | |
| MISUMI Group, Inc. | | | | | 5,983 | | | | | $ | 249,762 | | |
| Mitsubishi Chemical Holdings Corp. | | | | | 28,265 | | | | | | 233,680 | | |
| Mitsubishi Corp. | | | | | 22,426 | | | | | | 710,394 | | |
| Mitsubishi Electric Corp. | | | | | 37,145 | | | | | | 496,787 | | |
| Mitsubishi Estate Co., Ltd. | | | | | 22,368 | | | | | | 338,977 | | |
| Mitsubishi Heavy Industries Ltd. | | | | | 5,955 | | | | | | 151,924 | | |
| Mitsubishi UFJ Financial Group, Inc. | | | | | 217,866 | | | | | | 1,189,402 | | |
| Mitsui & Co., Ltd. | | | | | 28,173 | | | | | | 640,425 | | |
| Mitsui Chemicals, Inc. | | | | | 4,314 | | | | | | 127,878 | | |
| Mitsui Fudosan Co., Ltd. | | | | | 17,108 | | | | | | 389,872 | | |
| Mitsui OSK Lines Ltd. | | | | | 2,080 | | | | | | 130,610 | | |
| Mizuho Financial Group, Inc. | | | | | 43,757 | | | | | | 577,543 | | |
| MonotaRO Co., Ltd. | | | | | 5,433 | | | | | | 122,930 | | |
MS&AD Insurance Group Holdings,
Inc. | | | | | 9,626 | | | | | | 311,172 | | |
| Murata Manufacturing Co., Ltd. | | | | | 9,964 | | | | | | 756,137 | | |
| Nabtesco Corp. | | | | | 3,049 | | | | | | 98,670 | | |
| NEC Corp. | | | | | 5,084 | | | | | | 259,495 | | |
| Nexon Co., Ltd. | | | | | 7,790 | | | | | | 131,923 | | |
| NGK Insulators Ltd. | | | | | 6,127 | | | | | | 101,664 | | |
| NH Foods Ltd. | | | | | 2,848 | | | | | | 100,033 | | |
| Nidec Corp. | | | | | 7,993 | | | | | | 881,140 | | |
| Nihon M&A Center Holdings, Inc. | | | | | 5,779 | | | | | | 176,626 | | |
| Nintendo Co., Ltd. | | | | | 1,826 | | | | | | 803,904 | | |
| Nippon Building Fund, Inc. | | | | | 36 | | | | | | 233,633 | | |
| Nippon Express Co., Ltd. | | | | | 1,826 | | | | | | 114,020 | | |
Nippon Paint Holdings Co., Ltd.(b) | | | | | 14,166 | | | | | | 151,444 | | |
| Nippon Prologis REIT, Inc. | | | | | 60 | | | | | | 200,219 | | |
| Nippon Steel Corp. | | | | | 15,365 | | | | | | 269,368 | | |
| Nippon Telegraph & Telephone Corp. | | | | | 22,264 | | | | | | 622,474 | | |
| Nippon Yusen K.K. | | | | | 3,060 | | | | | | 219,520 | | |
| Nissan Chemical Corp. | | | | | 2,968 | | | | | | 164,766 | | |
Nissan Motor Co., Ltd.* | | | | | 36,977 | | | | | | 187,244 | | |
| Nisshin Seifun Group, Inc. | | | | | 7,840 | | | | | | 123,694 | | |
| Nissin Foods Holdings Co., Ltd. | | | | | 1,943 | | | | | | 148,419 | | |
| Nitori Holdings Co., Ltd. | | | | | 1,492 | | | | | | 272,885 | | |
| Nitto Denko Corp. | | | | | 3,193 | | | | | | 248,663 | | |
| Nomura Holdings, Inc. | | | | | 59,370 | | | | | | 286,371 | | |
| Nomura Real Estate Master Fund, Inc. | | | | | 123 | | | | | | 184,136 | | |
| Nomura Research Institute Ltd. | | | | | 6,136 | | | | | | 244,310 | | |
| NSK Ltd. | | | | | 11,243 | | | | | | 75,430 | | |
| NTT Data Corp. | | | | | 13,935 | | | | | | 279,006 | | |
| Obayashi Corp. | | | | | 18,124 | | | | | | 152,272 | | |
| Obic Co., Ltd. | | | | | 1,385 | | | | | | 254,954 | | |
| Odakyu Electric Railway Co., Ltd. | | | | | 7,184 | | | | | | 155,178 | | |
| Oji Holdings Corp. | | | | | 23,466 | | | | | | 116,069 | | |
| Olympus Corp. | | | | | 18,947 | | | | | | 408,850 | | |
| Omron Corp. | | | | | 3,714 | | | | | | 354,056 | | |
| Ono Pharmaceutical Co., Ltd. | | | | | 9,092 | | | | | | 190,212 | | |
| Oriental Land Co., Ltd. | | | | | 3,527 | | | | | | 554,917 | | |
| ORIX Corp. | | | | | 23,281 | | | | | | 460,414 | | |
| Orix JREIT, Inc. | | | | | 90 | | | | | | 149,099 | | |
| Osaka Gas Co., Ltd. | | | | | 8,153 | | | | | | 131,277 | | |
| Otsuka Corp. | | | | | 2,160 | | | | | | 106,082 | | |
| Otsuka Holdings Co., Ltd. | | | | | 8,219 | | | | | | 323,931 | | |
Pan Pacific International Holdings
Corp. | | | | | 9,708 | | | | | | 203,142 | | |
| Panasonic Corp. | | | | | 38,236 | | | | | | 466,947 | | |
See notes to financial statements.
Schedule of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Japan (continued) | |
PeptiDream, Inc.* | | | | | 2,347 | | | | | $ | 56,666 | | |
| Pigeon Corp. | | | | | 3,040 | | | | | | 70,305 | | |
| Rakus Co., Ltd. | | | | | 2,014 | | | | | | 63,498 | | |
Rakuten Group, Inc.(b) | | | | | 15,460 | | | | | | 169,480 | | |
| Recruit Holdings Co., Ltd. | | | | | 22,749 | | | | | | 1,510,681 | | |
Renesas Electronics Corp.* | | | | | 18,692 | | | | | | 229,828 | | |
| Resona Holdings, Inc. | | | | | 49,808 | | | | | | 186,957 | | |
| Ricoh Co., Ltd. | | | | | 13,119 | | | | | | 127,249 | | |
| Rohm Co., Ltd. | | | | | 1,790 | | | | | | 162,948 | | |
| Ryohin Keikaku Co., Ltd. | | | | | 5,495 | | | | | | 107,852 | | |
| Santen Pharmaceutical Co., Ltd. | | | | | 8,834 | | | | | | 124,036 | | |
| SBI Holdings, Inc. | | | | | 5,210 | | | | | | 134,425 | | |
| Secom Co., Ltd. | | | | | 3,976 | | | | | | 269,855 | | |
| Sekisui Chemical Co., Ltd. | | | | | 10,090 | | | | | | 165,033 | | |
| Sekisui House Ltd. | | | | | 14,157 | | | | | | 293,197 | | |
| Seven & i Holdings Co., Ltd. | | | | | 13,917 | | | | | | 583,654 | | |
| SG Holdings Co., Ltd. | | | | | 8,272 | | | | | | 206,755 | | |
| Shimadzu Corp. | | | | | 5,605 | | | | | | 226,854 | | |
| Shimano, Inc. | | | | | 1,474 | | | | | | 408,234 | | |
| Shimizu Corp. | | | | | 16,555 | | | | | | 120,941 | | |
| Shin-Etsu Chemical Co., Ltd. | | | | | 6,821 | | | | | | 1,211,658 | | |
| Shionogi & Co., Ltd. | | | | | 5,337 | | | | | | 346,689 | | |
| Shiseido Co., Ltd. | | | | | 6,942 | | | | | | 461,177 | | |
| Shizuoka Bank Ltd. (The) | | | | | 16,527 | | | | | | 132,912 | | |
| SMC Corp. | | | | | 1,029 | | | | | | 613,113 | | |
| SoftBank Corp. | | | | | 46,717 | | | | | | 636,892 | | |
| SoftBank Group Corp. | | | | | 22,459 | | | | | | 1,214,096 | | |
| Sompo Holdings, Inc. | | | | | 6,775 | | | | | | 293,994 | | |
| Sony Group Corp. | | | | | 20,702 | | | | | | 2,385,655 | | |
| Stanley Electric Co., Ltd. | | | | | 3,836 | | | | | | 96,417 | | |
| Subaru Corp. | | | | | 11,323 | | | | | | 221,247 | | |
| SUMCO Corp. | | | | | 5,112 | | | | | | 97,017 | | |
| Sumitomo Chemical Co., Ltd. | | | | | 37,551 | | | | | | 184,421 | | |
| Sumitomo Corp. | | | | | 23,471 | | | | | | 332,845 | | |
| Sumitomo Electric Industries Ltd. | | | | | 16,442 | | | | | | 217,232 | | |
| Sumitomo Metal Mining Co., Ltd. | | | | | 4,849 | | | | | | 188,091 | | |
| Sumitomo Mitsui Financial Group, Inc. | | | | | 23,539 | | | | | | 768,153 | | |
| Sumitomo Mitsui Trust Holdings, Inc. | | | | | 7,385 | | | | | | 243,133 | | |
| Sumitomo Realty & Development Co., Ltd. | | | | | 7,991 | | | | | | 288,033 | | |
| Suntory Beverage & Food Ltd. | | | | | 3,092 | | | | | | 119,721 | | |
| Suzuki Motor Corp. | | | | | 7,959 | | | | | | 354,237 | | |
| Sysmex Corp. | | | | | 3,493 | | | | | | 431,015 | | |
| T&D Holdings, Inc. | | | | | 14,114 | | | | | | 180,966 | | |
| Taiheiyo Cement Corp. | | | | | 3,542 | | | | | | 74,894 | | |
| Taisei Corp. | | | | | 4,002 | | | | | | 125,298 | | |
| Taiyo Yuden Co., Ltd. | | | | | 2,622 | | | | | | 132,221 | | |
| Takeda Pharmaceutical Co., Ltd. | | | | | 26,917 | | | | | | 756,107 | | |
| TDK Corp. | | | | | 7,005 | | | | | | 253,722 | | |
| Teijin Ltd. | | | | | 7,390 | | | | | | 99,095 | | |
| Terumo Corp. | | | | | 12,132 | | | | | | 533,904 | | |
| TIS, Inc. | | | | | 5,530 | | | | | | 150,102 | | |
| Tobu Railway Co., Ltd. | | | | | 5,574 | | | | | | 138,391 | | |
| Toho Co., Ltd. | | | | | 3,261 | | | | | | 153,005 | | |
| Toho Gas Co., Ltd. | | | | | 1,847 | | | | | | 54,588 | | |
| Tohoku Electric Power Co., Inc. | | | | | 11,571 | | | | | | 74,992 | | |
| Tokio Marine Holdings, Inc. | | | | | 11,884 | | | | | | 625,128 | | |
| Tokyo Electron Ltd. | | | | | 2,522 | | | | | | 1,168,934 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Japan (continued) | |
| Tokyo Gas Co., Ltd. | | | | | 9,334 | | | | | $ | 161,999 | | |
| Tokyu Corp. | | | | | 11,911 | | | | | | 167,344 | | |
| Tokyu Fudosan Holdings Corp. | | | | | 15,608 | | | | | | 90,205 | | |
| TOPPAN, Inc. | | | | | 7,184 | | | | | | 115,486 | | |
| Toray Industries, Inc. | | | | | 31,683 | | | | | | 196,975 | | |
| Toshiba Corp. | | | | | 8,126 | | | | | | 349,912 | | |
| Tosoh Corp. | | | | | 6,588 | | | | | | 110,874 | | |
| TOTO Ltd. | | | | | 3,538 | | | | | | 170,656 | | |
| Toyo Suisan Kaisha Ltd. | | | | | 2,836 | | | | | | 122,120 | | |
| Toyota Industries Corp. | | | | | 3,358 | | | | | | 284,484 | | |
| Toyota Motor Corp. | | | | | 205,116 | | | | | | 3,609,430 | | |
| Toyota Tsusho Corp. | | | | | 5,135 | | | | | | 222,018 | | |
| Trend Micro, Inc. | | | | | 2,804 | | | | | | 158,121 | | |
| Tsuruha Holdings, Inc. | | | | | 932 | | | | | | 114,840 | | |
| Unicharm Corp. | | | | | 7,488 | | | | | | 301,556 | | |
| USS Co., Ltd. | | | | | 6,720 | | | | | | 107,850 | | |
| West Japan Railway Co. | | | | | 5,038 | | | | | | 236,955 | | |
| Yakult Honsha Co., Ltd. | | | | | 3,136 | | | | | | 157,866 | | |
| Yamaha Corp. | | | | | 3,374 | | | | | | 212,456 | | |
Yamaha Motor Co., Ltd.(b) | | | | | 6,941 | | | | | | 192,662 | | |
| Yamato Holdings Co., Ltd. | | | | | 6,884 | | | | | | 168,863 | | |
| Yaskawa Electric Corp. | | | | | 5,117 | | | | | | 220,791 | | |
| Yokogawa Electric Corp. | | | | | 5,812 | | | | | | 115,807 | | |
| Z Holdings Corp. | | | | | 50,109 | | | | | | 310,256 | | |
| Zenkoku Hosho Co., Ltd. | | | | | 2,236 | | | | | | 107,854 | | |
| Total Japan | | | | | | | | | | | 73,813,316 | | |
| Jordan — 0.0%(a) | |
| Hikma Pharmaceuticals PLC | | | | | 3,524 | | | | | | 116,271 | | |
| Luxembourg — 0.2% | |
| ArcelorMittal SA | | | | | 10,776 | | | | | | 365,698 | | |
| Eurofins Scientific SE | | | | | 2,154 | | | | | | 254,107 | | |
| Total Luxembourg | | | | | | | | | | | 619,805 | | |
| Macau — 0.1% | |
Galaxy Entertainment Group Ltd.* | | | | | 41,565 | | | | | | 224,949 | | |
Sands China Ltd.* | | | | | 55,275 | | | | | | 126,338 | | |
| Total Macau | | | | | | | | | | | 351,287 | | |
| Netherlands — 5.2% | |
Adyen NV* | | | | | 490 | | | | | | 1,480,290 | | |
| Aegon NV | | | | | 37,514 | | | | | | 190,366 | | |
| Akzo Nobel NV | | | | | 3,268 | | | | | | 375,996 | | |
Argenx SE* | | | | | 934 | | | | | | 279,837 | | |
| ASM International NV | | | | | 850 | | | | | | 385,005 | | |
| ASML Holding NV | | | | | 6,516 | | | | | | 5,282,216 | | |
| ASR Nederland NV | | | | | 3,001 | | | | | | 140,514 | | |
| BE Semiconductor Industries NV | | | | | 1,224 | | | | | | 111,845 | | |
| Euronext NV | | | | | 1,484 | | | | | | 167,271 | | |
| EXOR NV | | | | | 1,907 | | | | | | 179,860 | | |
| Heineken Holding NV | | | | | 1,970 | | | | | | 182,838 | | |
Heineken NV(b) | | | | | 4,148 | | | | | | 459,962 | | |
| IMCD NV | | | | | 824 | | | | | | 183,134 | | |
| ING Groep NV | | | | | 67,202 | | | | | | 1,020,335 | | |
| Koninklijke Ahold Delhaize NV | | | | | 16,242 | | | | | | 528,733 | | |
| Koninklijke DSM NV | | | | | 2,807 | | | | | | 614,110 | | |
| Koninklijke KPN NV | | | | | 63,367 | | | | | | 189,562 | | |
| Koninklijke Philips NV | | | | | 15,464 | | | | | | 728,803 | | |
See notes to financial statements.
Schedule of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Netherlands (continued) | |
| NN Group NV | | | | | 6,233 | | | | | $ | 334,112 | | |
| Randstad NV | | | | | 2,232 | | | | | | 160,661 | | |
| Royal Dutch Shell PLC, Class A | | | | | 68,550 | | | | | | 1,579,549 | | |
| Royal Dutch Shell PLC, Class B | | | | | 61,951 | | | | | | 1,430,890 | | |
Universal Music Group NV(b) | | | | | 13,430 | | | | | | 390,334 | | |
| Wolters Kluwer NV | | | | | 4,603 | | | | | | 482,823 | | |
| Total Netherlands | | | | | | | | | | | 16,879,046 | | |
| New Zealand — 0.4% | |
Auckland International Airport Ltd.* | | | | | 32,481 | | | | | | 185,728 | | |
| Contact Energy Ltd. | | | | | 22,110 | | | | | | 129,432 | | |
| Fisher & Paykel Healthcare Corp., Ltd. | | | | | 12,294 | | | | | | 274,592 | | |
| Mainfreight Ltd. | | | | | 1,929 | | | | | | 124,106 | | |
| Meridian Energy Ltd. | | | | | 29,091 | | | | | | 103,887 | | |
| Spark New Zealand Ltd. | | | | | 57,282 | | | | | | 187,137 | | |
Xero Ltd.* | | | | | 2,510 | | | | | | 281,865 | | |
| Total New Zealand | | | | | | | | | | | 1,286,747 | | |
| Norway — 0.6% | |
| DNB Bank ASA | | | | | 18,718 | | | | | | 444,313 | | |
| Equinor ASA | | | | | 17,381 | | | | | | 439,184 | | |
| Mowi ASA | | | | | 8,723 | | | | | | 252,225 | | |
| Norsk Hydro ASA | | | | | 26,425 | | | | | | 193,299 | | |
| Orkla ASA | | | | | 16,998 | | | | | | 165,091 | | |
| Schibsted ASA, Class A | | | | | 3,167 | | | | | | 163,118 | | |
| Telenor ASA | | | | | 12,599 | | | | | | 198,607 | | |
| TOMRA Systems ASA | | | | | 2,363 | | | | | | 152,295 | | |
| Total Norway | | | | | | | | | | | 2,008,132 | | |
| Poland — 0.3% | |
Allegro.eu SA* | | | | | 7,786 | | | | | | 88,120 | | |
Dino Polska SA* | | | | | 871 | | | | | | 77,866 | | |
| KGHM Polska Miedz SA | | | | | 3,120 | | | | | | 120,053 | | |
| LPP SA | | | | | 26 | | | | | | 93,457 | | |
| Polski Koncern Naftowy ORLEN SA | | | | | 7,051 | | | | | | 152,210 | | |
Powszechna Kasa Oszczednosci Bank Polski SA* | | | | | 17,639 | | | | | | 215,917 | | |
| Powszechny Zaklad Ubezpieczen SA | | | | | 15,723 | | | | | | 157,362 | | |
| Total Poland | | | | | | | | | | | 904,985 | | |
| Portugal — 0.1% | |
| EDP — Energias de Portugal SA | | | | | 63,917 | | | | | | 361,259 | | |
| Russia — 0.1% | |
Coca-Cola HBC AG* | | | | | 3,749 | | | | | | 130,169 | | |
| Polymetal International PLC | | | | | 8,564 | | | | | | 159,065 | | |
| Total Russia | | | | | | | | | | | 289,234 | | |
| Saudi Arabia — 0.1% | |
Delivery Hero SE* | | | | | 3,344 | | | | | | 416,201 | | |
| Singapore — 1.0% | |
| Ascendas Real Estate Investment Trust | | | | | 110,159 | | | | | | 252,422 | | |
CapitaLand Integrated Commercial
Trust | | | | | 154,317 | | | | | | 246,038 | | |
| DBS Group Holdings Ltd. | | | | | 31,498 | | | | | | 736,472 | | |
| Genting Singapore Ltd. | | | | | 216,795 | | | | | | 125,399 | | |
| Keppel Corp., Ltd. | | | | | 35,216 | | | | | | 140,498 | | |
| Mapletree Industrial Trust | | | | | 79,368 | | | | | | 161,855 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Singapore (continued) | |
| Oversea-Chinese Banking Corp., Ltd. | | | | | 62,373 | | | | | $ | 545,793 | | |
| Singapore Exchange Ltd. | | | | | 21,125 | | | | | | 151,643 | | |
Singapore Technologies Engineering
Ltd. | | | | | 50,648 | | | | | | 143,850 | | |
| Singapore Telecommunications Ltd. | | | | | 153,097 | | | | | | 283,828 | | |
| United Overseas Bank Ltd. | | | | | 23,701 | | | | | | 470,153 | | |
| Total Singapore | | | | | | | | | | | 3,257,951 | | |
| South Africa — 0.2% | |
| Anglo American PLC | | | | | 20,553 | | | | | | 783,914 | | |
| South Korea — 4.9% | |
| Amorepacific Corp. | | | | | 935 | | | | | | 145,225 | | |
Celltrion Healthcare Co., Ltd.* | | | | | 1,625 | | | | | | 112,501 | | |
Celltrion, Inc.* | | | | | 1,950 | | | | | | 334,581 | | |
| CJ CheilJedang Corp. | | | | | 321 | | | | | | 104,386 | | |
| Coway Co., Ltd. | | | | | 2,093 | | | | | | 142,214 | | |
Doosan Heavy Industries & Construction Co., Ltd.* | | | | | 5,926 | | | | | | 123,738 | | |
| Hana Financial Group, Inc. | | | | | 7,253 | | | | | | 279,308 | | |
| Hankook Tire & Technology Co., Ltd. | | | | | 2,933 | | | | | | 103,786 | | |
HLB, Inc.* | | | | | 1,942 | | | | | | 69,966 | | |
HMM Co., Ltd.* | | | | | 6,486 | | | | | | 147,920 | | |
HYBE Co., Ltd.* | | | | | 437 | | | | | | 125,279 | | |
| Hyundai Mobis Co., Ltd. | | | | | 1,332 | | | | | | 287,248 | | |
| Hyundai Motor Co. | | | | | 3,005 | | | | | | 534,885 | | |
| Industrial Bank of Korea | | | | | 14,571 | | | | | | 137,786 | | |
| Kakao Corp. | | | | | 5,283 | | | | | | 567,384 | | |
| KB Financial Group, Inc. | | | | | 7,980 | | | | | | 386,520 | | |
| Kia Corp. | | | | | 5,017 | | | | | | 365,364 | | |
| Korea Electric Power Corp. | | | | | 6,706 | | | | | | 129,695 | | |
| Korea Zinc Co., Ltd. | | | | | 363 | | | | | | 166,814 | | |
Korean Air Lines Co., Ltd.* | | | | | 5,307 | | | | | | 138,289 | | |
| KT&G Corp. | | | | | 4,121 | | | | | | 286,007 | | |
| LG Chem Ltd. | | | | | 871 | | | | | | 623,128 | | |
| LG Corp. | | | | | 2,183 | | | | | | 170,373 | | |
LG Display Co., Ltd.* | | | | | 6,875 | | | | | | 115,902 | | |
| LG Electronics, Inc. | | | | | 2,346 | | | | | | 241,918 | | |
| LG Household & Health Care Ltd. | | | | | 212 | | | | | | 212,444 | | |
| NAVER Corp. | | | | | 2,456 | | | | | | 855,412 | | |
| NCSoft Corp. | | | | | 372 | | | | | | 199,601 | | |
| POSCO | | | | | 1,352 | | | | | | 342,469 | | |
Samsung Biologics Co., Ltd.* | | | | | 285 | | | | | | 212,430 | | |
| Samsung C&T Corp. | | | | | 1,995 | | | | | | 194,626 | | |
| Samsung Electro-Mechanics Co., Ltd. | | | | | 1,345 | | | | | | 183,009 | | |
| Samsung Electronics Co., Ltd. | | | | | 79,179 | | | | | | 4,729,532 | | |
| Samsung Fire & Marine Insurance Co., Ltd. | | | | | 944 | | | | | | 186,611 | | |
| Samsung SDI Co., Ltd. | | | | | 969 | | | | | | 608,657 | | |
| Samsung SDS Co., Ltd. | | | | | 1,039 | | | | | | 136,038 | | |
| Shinhan Financial Group Co., Ltd. | | | | | 10,688 | | | | | | 349,849 | | |
SK Bioscience Co., Ltd.* | | | | | 430 | | | | | | 84,635 | | |
| SK Hynix, Inc. | | | | | 8,972 | | | | | | 790,823 | | |
SK Innovation Co., Ltd.* | | | | | 1,089 | | | | | | 225,992 | | |
| SK Telecom Co., Ltd. | | | | | 730 | | | | | | 193,346 | | |
| SK, Inc. | | | | | 727 | | | | | | 151,180 | | |
| Woori Financial Group, Inc. | | | | | 16,722 | | | | | | 189,608 | | |
| Total South Korea | | | | | | | | | | | 15,686,479 | | |
| |
See notes to financial statements.
Schedule of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | | | |
| Common Stocks (continued) | | | |
| Spain — 2.3% | | | | | | | |
Abertis Infraestructuras SA(c) | | | | | 5,353 | | | | | $ | 18,584 | | | | |
| ACS Actividades de Construccion y Servicios SA | | | | | 4,945 | | | | | | 129,502 | | | | |
Aena SME SA* | | | | | 1,322 | | | | | | 216,708 | | | | |
Amadeus IT Group SA* | | | | | 7,419 | | | | | | 496,593 | | | | |
| Banco Bilbao Vizcaya Argentaria SA | | | | | 115,478 | | | | | | 810,106 | | | | |
Banco Santander SA(b) | | | | | 291,968 | | | | | | 1,107,063 | | | | |
| Bankinter SA | | | | | 17,122 | | | | | | 94,356 | | | | |
| CaixaBank SA | | | | | 81,759 | | | | | | 235,120 | | | | |
Cellnex Telecom SA* | | | | | 10,480 | | | | | | 644,966 | | | | |
| Enagas SA | | | | | 4,828 | | | | | | 108,420 | | | | |
| Endesa SA | | | | | 5,512 | | | | | | 127,224 | | | | |
| Ferrovial SA | | | | | 8,982 | | | | | | 283,352 | | | | |
Grifols SA(b) | | | | | 5,937 | | | | | | 136,003 | | | | |
| Iberdrola SA | | | | | 98,799 | | | | | | 1,167,933 | | | | |
Industria de Diseno Textil SA(b) | | | | | 18,062 | | | | | | 652,986 | | | | |
Naturgy Energy Group SA(b) | | | | | 5,304 | | | | | | 139,518 | | | | |
| Red Electrica Corp. SA | | | | | 8,136 | | | | | | 169,571 | | | | |
| Repsol SA | | | | | 24,401 | | | | | | 312,200 | | | | |
Siemens Gamesa Renewable Energy
SA* | | | | | 3,824 | | | | | | 103,685 | | | | |
| Telefonica SA | | | | | 91,545 | | | | | | 398,813 | | | | |
| Total Spain | | | | | | | | | | | 7,352,703 | | | | |
| Sweden — 3.5% | | | |
| Alfa Laval AB | | | | | 6,187 | | | | | | 264,884 | | | | |
| Assa Abloy AB, B Shares | | | | | 15,923 | | | | | | 466,279 | | | | |
Atlas Copco AB, A Shares(b) | | | | | 10,547 | | | | | | 677,631 | | | | |
Atlas Copco AB, B Shares(b) | | | | | 6,362 | | | | | | 344,082 | | | | |
| Boliden AB | | | | | 5,332 | | | | | | 188,050 | | | | |
| Castellum AB | | | | | 5,113 | | | | | | 135,974 | | | | |
Electrolux AB, B Shares(b) | | | | | 4,885 | | | | | | 110,856 | | | | |
| Elekta AB, B Shares | | | | | 6,797 | | | | | | 78,919 | | | | |
| Epiroc AB, A Shares | | | | | 11,012 | | | | | | 274,002 | | | | |
| Epiroc AB, B Shares | | | | | 6,847 | | | | | | 145,494 | | | | |
| EQT AB | | | | | 4,837 | | | | | | 254,902 | | | | |
| Essity AB, B Shares | | | | | 10,989 | | | | | | 355,446 | | | | |
| Evolution AB | | | | | 2,884 | | | | | | 466,490 | | | | |
| Getinge AB, B Shares | | | | | 3,730 | | | | | | 166,902 | | | | |
H & M Hennes & Mauritz AB, B
Shares(b) | | | | | 15,561 | | | | | | 291,743 | | | | |
| Hexagon AB, B Shares | | | | | 30,427 | | | | | | 488,901 | | | | |
| Husqvarna AB, B Shares | | | | | 8,087 | | | | | | 115,017 | | | | |
Industrivarden AB, A Shares(b) | | | | | 7,519 | | | | | | 247,934 | | | | |
| Indutrade AB | | | | | 5,210 | | | | | | 151,596 | | | | |
Investor AB, B Shares(b) | | | | | 38,282 | | | | | | 882,111 | | | | |
Kinnevik AB, B Shares* | | | | | 4,557 | | | | | | 178,624 | | | | |
| Lundin Energy AB | | | | | 4,141 | | | | | | 163,547 | | | | |
| Nibe Industrier AB, B Shares | | | | | 20,915 | | | | | | 311,345 | | | | |
| Sandvik AB | | | | | 18,800 | | | | | | 476,102 | | | | |
| Securitas AB, B Shares | | | | | 6,651 | | | | | | 109,966 | | | | |
Sinch AB* | | | | | 9,427 | | | | | | 178,749 | | | | |
| Skandinaviska Enskilda Banken AB, A Shares | | | | | 25,841 | | | | | | 403,930 | | | | |
| Skanska AB, B Shares | | | | | 6,850 | | | | | | 173,872 | | | | |
| SKF AB, B Shares | | | | | 7,510 | | | | | | 174,011 | | | | |
| Svenska Cellulosa AB SCA, B Shares | | | | | 11,194 | | | | | | 174,521 | | | | |
| Svenska Handelsbanken AB, A Shares | | | | | 26,181 | | | | | | 299,778 | | | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Sweden (continued) | |
Swedbank AB, A Shares(b) | | | | | 17,535 | | | | | $ | 380,243 | | |
| Swedish Match AB | | | | | 30,226 | | | | | | 265,993 | | |
Swedish Orphan Biovitrum AB* | | | | | 3,234 | | | | | | 87,736 | | |
| Tele2 AB, B Shares | | | | | 10,192 | | | | | | 143,769 | | |
Telefonaktiebolaget LM Ericsson, B
Shares | | | | | 51,347 | | | | | | 561,986 | | |
Telia Co. AB(b) | | | | | 44,168 | | | | | | 173,797 | | |
| Trelleborg AB, B Shares | | | | | 5,856 | | | | | | 133,743 | | |
| Volvo AB, B Shares | | | | | 27,940 | | | | | | 650,377 | | |
| Total Sweden | | | | | | | | | | | 11,149,302 | | |
| Switzerland — 8.8% | |
| ABB Ltd. | | | | | 28,254 | | | | | | 936,595 | | |
| Adecco Group AG | | | | | 2,931 | | | | | | 147,777 | | |
| Alcon, Inc. | | | | | 7,644 | | | | | | 632,936 | | |
| Baloise Holding AG | | | | | 974 | | | | | | 155,627 | | |
Chocoladefabriken Lindt &
Spruengli AG | | | | | 34 | | | | | | 401,488 | | |
| Cie Financiere Richemont SA, Class A | | | | | 8,787 | | | | | | 1,087,617 | | |
Clariant AG* | | | | | 5,948 | | | | | | 125,372 | | |
| Credit Suisse Group AG | | | | | 39,760 | | | | | | 414,766 | | |
| EMS-Chemie Holding AG | | | | | 137 | | | | | | 136,063 | | |
| Geberit AG | | | | | 622 | | | | | | 486,572 | | |
| Givaudan SA | | | | | 157 | | | | | | 740,370 | | |
Holcim Ltd.* | | | | | 8,515 | | | | | | 425,960 | | |
| Julius Baer Group Ltd. | | | | | 3,999 | | | | | | 289,635 | | |
| Kuehne + Nagel International AG | | | | | 769 | | | | | | 242,629 | | |
| Logitech International SA | | | | | 2,482 | | | | | | 207,035 | | |
| Lonza Group AG | | | | | 1,266 | | | | | | 1,039,956 | | |
Nestle SA(d) | | | | | 45,916 | | | | | | 6,071,213 | | |
| Novartis AG | | | | | 34,969 | | | | | | 2,894,725 | | |
| Partners Group Holding AG | | | | | 380 | | | | | | 664,350 | | |
| PSP Swiss Property AG | | | | | 1,064 | | | | | | 133,211 | | |
| Roche Holding AG | | | | | 11,920 | | | | | | 4,618,633 | | |
| Schindler Holding AG — Participating Certificate | | | | | 974 | | | | | | 253,906 | | |
| SGS SA | | | | | 115 | | | | | | 340,815 | | |
SIG Combibloc Group AG* | | | | | 5,660 | | | | | | 148,167 | | |
| Sika AG | | | | | 2,392 | | | | | | 811,513 | | |
| Sonova Holding AG | | | | | 988 | | | | | | 409,040 | | |
| STMicroelectronics NV | | | | | 10,934 | | | | | | 517,712 | | |
| Straumann Holding AG | | | | | 180 | | | | | | 374,676 | | |
| Swatch Group AG (The) — Bearer | | | | | 632 | | | | | | 173,744 | | |
| Swiss Life Holding AG | | | | | 621 | | | | | | 341,576 | | |
| Swiss Prime Site AG | | | | | 1,596 | | | | | | 162,438 | | |
| Swisscom AG | | | | | 454 | | | | | | 247,632 | | |
| Tecan Group AG | | | | | 214 | | | | | | 131,152 | | |
| Temenos AG | | | | | 1,081 | | | | | | 165,448 | | |
| UBS Group AG | | | | | 53,224 | | | | | | 969,536 | | |
| VAT Group AG | | | | | 396 | | | | | | 189,473 | | |
| Vifor Pharma AG | | | | | 1,052 | | | | | | 135,968 | | |
| Zurich Insurance Group AG | | | | | 2,437 | | | | | | 1,082,548 | | |
| Total Switzerland | | | | | | | | | | | 28,307,874 | | |
| United Kingdom — 11.3% | |
| 3i Group PLC | | | | | 16,267 | | | | | | 304,144 | | |
| abrdn PLC | | | | | 39,033 | | | | | | 135,901 | | |
| Admiral Group PLC | | | | | 3,582 | | | | | | 140,918 | | |
See notes to financial statements.
Schedule of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| United Kingdom (continued) | |
| Ashtead Group PLC | | | | | 7,594 | | | | | $ | 637,476 | | |
| Associated British Foods PLC | | | | | 6,246 | | | | | | 153,083 | | |
| AstraZeneca PLC | | | | | 25,696 | | | | | | 3,203,159 | | |
Auto Trader Group PLC(b) | | | | | 17,784 | | | | | | 147,630 | | |
| Aviva PLC | | | | | 69,161 | | | | | | 374,185 | | |
| B&M European Value Retail SA | | | | | 15,437 | | | | | | 133,987 | | |
| BAE Systems PLC | | | | | 55,167 | | | | | | 417,272 | | |
| Barclays PLC | | | | | 286,493 | | | | | | 794,256 | | |
| Barratt Developments PLC | | | | | 19,137 | | | | | | 173,918 | | |
| Berkeley Group Holdings PLC | | | | | 2,172 | | | | | | 129,660 | | |
| BP PLC | | | | | 333,616 | | | | | | 1,601,478 | | |
| British American Tobacco PLC | | | | | 38,579 | | | | | | 1,346,644 | | |
| British Land Co. PLC (The) | | | | | 18,742 | | | | | | 126,989 | | |
BT Group PLC* | | | | | 135,943 | | | | | | 258,832 | | |
| Bunzl PLC | | | | | 6,696 | | | | | | 248,004 | | |
| Burberry Group PLC | | | | | 7,473 | | | | | | 197,599 | | |
| CK Hutchison Holdings Ltd. | | | | | 50,248 | | | | | | 338,150 | | |
| CNH Industrial NV | | | | | 18,291 | | | | | | 316,027 | | |
Compass Group PLC* | | | | | 30,454 | | | | | | 647,044 | | |
| Croda International PLC | | | | | 2,409 | | | | | | 312,316 | | |
| DCC PLC | | | | | 1,786 | | | | | | 149,485 | | |
| Dechra Pharmaceuticals PLC | | | | | 1,563 | | | | | | 109,695 | | |
| Diageo PLC | | | | | 38,396 | | | | | | 1,911,568 | | |
| Direct Line Insurance Group PLC | | | | | 27,669 | | | | | | 110,899 | | |
| DS Smith PLC | | | | | 24,338 | | | | | | 127,907 | | |
Entain PLC* | | | | | 11,049 | | | | | | 310,178 | | |
| Experian PLC | | | | | 15,769 | | | | | | 723,466 | | |
| GlaxoSmithKline PLC | | | | | 82,486 | | | | | | 1,705,738 | | |
| Halma PLC | | | | | 5,368 | | | | | | 217,949 | | |
Hargreaves Lansdown PLC(b) | | | | | 6,591 | | | | | | 138,862 | | |
| Howden Joinery Group PLC | | | | | 9,054 | | | | | | 114,154 | | |
| HSBC Holdings PLC | | | | | 339,752 | | | | | | 2,056,131 | | |
| IMI PLC | | | | | 5,459 | | | | | | 122,271 | | |
| Imperial Brands PLC | | | | | 16,566 | | | | | | 350,155 | | |
Informa PLC* | | | | | 28,295 | | | | | | 201,451 | | |
InterContinental Hotels Group PLC* | | | | | 3,681 | | | | | | 258,240 | | |
| Intermediate Capital Group PLC | | | | | 5,601 | | | | | | 168,216 | | |
| Intertek Group PLC | | | | | 3,040 | | | | | | 203,978 | | |
ITV PLC* | | | | | 71,823 | | | | | | 105,983 | | |
| JD Sports Fashion PLC | | | | | 9,810 | | | | | | 146,304 | | |
| Johnson Matthey PLC | | | | | 3,590 | | | | | | 134,491 | | |
Just Eat Takeaway.com NV* | | | | | 3,174 | | | | | | 228,174 | | |
| Kingfisher PLC | | | | | 40,299 | | | | | | 185,053 | | |
| Land Securities Group PLC | | | | | 15,508 | | | | | | 146,040 | | |
| Legal & General Group PLC | | | | | 106,587 | | | | | | 422,095 | | |
| Lloyds Banking Group PLC | | | | | 1,192,053 | | | | | | 820,598 | | |
| London Stock Exchange Group PLC | | | | | 5,684 | | | | | | 553,185 | | |
| M&G PLC | | | | | 50,986 | | | | | | 139,638 | | |
Meggitt PLC* | | | | | 15,677 | | | | | | 161,169 | | |
| Melrose Industries PLC | | | | | 77,966 | | | | | | 168,644 | | |
| National Grid PLC | | | | | 58,263 | | | | | | 747,048 | | |
| NatWest Group PLC | | | | | 86,959 | | | | | | 263,549 | | |
| Next PLC | | | | | 2,377 | | | | | | 259,554 | | |
Ocado Group PLC* | | | | | 8,410 | | | | | | 207,850 | | |
Pearson PLC(b) | | | | | 14,403 | | | | | | 118,931 | | |
| Persimmon PLC | | | | | 6,067 | | | | | | 226,288 | | |
| Prudential PLC | | | | | 43,546 | | | | | | 892,077 | | |
| Reckitt Benckiser Group PLC | | | | | 10,739 | | | | | | 872,188 | | |
| | | | Shares | | | Value | | | |
| Common Stocks (continued) | | | |
| United Kingdom (continued) | | | |
| RELX PLC | | | | | 31,554 | | | | | $ | 979,239 | | | | |
| Rentokil Initial PLC | | | | | 32,303 | | | | | | 260,540 | | | | |
Rightmove PLC(b) | | | | | 16,466 | | | | | | 156,054 | | | | |
Rolls-Royce Holdings PLC* | | | | | 144,476 | | | | | | 261,096 | | | | |
| Royal Mail PLC | | | | | 14,024 | | | | | | 80,834 | | | | |
| Sage Group PLC (The) | | | | | 20,178 | | | | | | 196,600 | | | | |
| Segro PLC | | | | | 19,845 | | | | | | 351,593 | | | | |
| Severn Trent PLC | | | | | 4,555 | | | | | | 170,954 | | | | |
| Smith & Nephew PLC | | | | | 15,585 | | | | | | 268,107 | | | | |
| Smiths Group PLC | | | | | 7,659 | | | | | | 142,308 | | | | |
| Spirax-Sarco Engineering PLC | | | | | 1,236 | | | | | | 264,387 | | | | |
| SSE PLC | | | | | 17,364 | | | | | | 391,181 | | | | |
St James’s Place PLC(b) | | | | | 9,144 | | | | | | 197,977 | | | | |
| Standard Chartered PLC | | | | | 42,842 | | | | | | 290,633 | | | | |
| Tate & Lyle PLC | | | | | 11,737 | | | | | | 104,286 | | | | |
| Taylor Wimpey PLC | | | | | 68,603 | | | | | | 145,335 | | | | |
| Tesco PLC | | | | | 127,251 | | | | | | 470,784 | | | | |
THG PLC* | | | | | 18,083 | | | | | | 53,689 | | | | |
| Unilever PLC | | | | | 42,484 | | | | | | 2,278,150 | | | | |
| United Utilities Group PLC | | | | | 12,779 | | | | | | 181,912 | | | | |
| Vodafone Group PLC | | | | | 476,903 | | | | | | 706,273 | | | | |
| Weir Group PLC (The) | | | | | 5,040 | | | | | | 119,864 | | | | |
Whitbread PLC*(b) | | | | | 4,441 | | | | | | 199,061 | | | | |
| WPP PLC | | | | | 21,366 | | | | | | 309,275 | | | | |
| Total United Kingdom | | | | | | | | | | | 36,498,006 | | | | |
| United States — 1.3% | | | |
| Amcor PLC | | | | | 32,435 | | | | | | 389,548 | | | | |
| Ferguson PLC | | | | | 3,963 | | | | | | 597,279 | | | | |
| James Hardie Industries PLC | | | | | 7,827 | | | | | | 303,643 | | | | |
OneMarket Ltd.*(c) | | | | | 1,633 | | | | | | 0 | | | | |
QIAGEN NV* | | | | | 4,569 | | | | | | 251,631 | | | | |
| Schneider Electric SE | | | | | 8,956 | | | | | | 1,543,248 | | | | |
| Stellantis NV | | | | | 35,644 | | | | | | 711,545 | | | | |
| Swiss Re AG | | | | | 4,966 | | | | | | 481,736 | | | | |
| Total United States | | | | | | | | | | | 4,278,630 | | | | |
| Total Common Stocks | | | |
| (Cost $281,669,880) | | | | | | | | | | | 319,319,096 | | | | |
| Preferred Stocks — 0.8% | | | |
| Germany — 0.6% | | | |
| FUCHS PETROLUB SE, 0.00% | | | | | 2,298 | | | | | | 110,204 | | | | |
| Henkel AG & Co. KGaA, 2.37% | | | | | 3,331 | | | | | | 298,284 | | | | |
| Porsche Automobil Holding SE, 2.44% | | | | | 2,876 | | | | | | 298,943 | | | | |
| Sartorius AG, 0.13% | | | | | 459 | | | | | | 297,672 | | | | |
| Volkswagen AG, 2.50% | | | | | 3,707 | | | | | | 831,473 | | | | |
| Total Germany | | | | | | | | | | | 1,836,576 | | | | |
| South Korea — 0.2% | | | |
| Samsung Electronics Co., Ltd., 4.06% | | | | | 13,165 | | | | | | 721,031 | | | | |
| Total Preferred Stocks | | | | | | | |
| (Cost $1,956,365) | | | | | | | | | | | 2,557,607 | | | | |
| Rights — 0.0%(a) | | | |
| Australia — 0.0%(a) | | | |
| Aristocrat Leisure Ltd., expires 11/11/21* | | | | | | | | | | | | | | | |
| (Cost $0) | | | | | 630 | | | | | | 2,238 | | | | |
| |
See notes to financial statements.
Schedule of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Short-Term Investment — 2.3% | |
| Money Market Fund — 2.3% | |
Dreyfus Government Cash Management
Fund, Institutional Shares, 0.03%(e)(f) | | | | | | | | | | | | | |
| (Cost $7,551,732) | | | | | 7,551,732 | | | | | $ | 7,551,732 | | |
| Total Investments — 102.1% | | | | | | | | | | | | | |
| (Cost $291,177,977) | | | | | | | | | | | 329,430,673 | | |
Other Assets and Liabilities,
Net — (2.1)% | | | | | | | | | | | (6,832,161) | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 322,598,512 | | |
| |
*
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 $9,061,008; total market value of collateral held by the Fund was $12,414,398. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $4,862,666.
(c)
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.
(d)
All or a portion of these securities have been segregated as collateral for forward foreign currency contracts. The total value of securities segregated amounted to $2,908,936.
(e)
Reflects the 1-day yield at October 31, 2021.
(f)
Represents security purchased with cash collateral received for securities on loan.
Forward Foreign Currency Contracts Outstanding as of October 31, 2021:
| Purchased Contracts | | | Settlement
Date | | | Counterparty | | | Currency
Amount
Purchased | | | Value at
Settlement
Date | | | Value at
October 31,
2021 | | | Unrealized
Appreciation | |
| Swiss Franc | | | | | 11/05/21 | | | | Morgan Stanley | | | | | 12,420,862 | | | | | $ | 13,594,081 | | | | | $ | 13,595,047 | | | | | $ | 966 | | |
| Danish Krone | | | | | 11/05/21 | | | | Morgan Stanley | | | | | 23,618,417 | | | | | | 3,673,939 | | | | | | 3,674,469 | | | | | | 530 | | |
| Euro | | | | | 11/05/21 | | | | Morgan Stanley | | | | | 40,629,736 | | | | | | 47,019,916 | | | | | | 47,023,309 | | | | | | 3,393 | | |
| British Pound | | | | | 11/05/21 | | | | Morgan Stanley | | | | | 16,399,227 | | | | | | 22,478,263 | | | | | | 22,479,306 | | | | | | 1,043 | | |
| Hong Kong Dollar | | | | | 11/05/21 | | | | Morgan Stanley | | | | | 35,586,635 | | | | | | 4,574,480 | | | | | | 4,574,746 | | | | | | 266 | | |
| Israeli Shekel | | | | | 11/05/21 | | | | Morgan Stanley | | | | | 2,864,028 | | | | | | 907,156 | | | | | | 907,262 | | | | | | 106 | | |
South Korean Won# | | | | | 11/05/21 | | | | Morgan Stanley | | | | | 9,934,512,500 | | | | | | 8,464,341 | | | | | | 8,500,356 | | | | | | 36,015 | | |
| Norwegian Krone | | | | | 11/05/21 | | | | Morgan Stanley | | | | | 9,376,824 | | | | | | 1,108,342 | | | | | | 1,108,427 | | | | | | 85 | | |
| Polish Zloty | | | | | 11/05/21 | | | | Morgan Stanley | | | | | 1,754,659 | | | | | | 440,076 | | | | | | 440,086 | | | | | | 10 | | |
| Swedish Krona | | | | | 11/05/21 | | | | Morgan Stanley | | | | | 46,200,777 | | | | | | 5,378,962 | | | | | | 5,379,588 | | | | | | 626 | | |
| Singapore Dollar | | | | | 11/05/21 | | | | Morgan Stanley | | | | | 2,200,477 | | | | | | 1,631,611 | | | | | | 1,631,760 | | | | | | 149 | | |
| Unrealized Appreciation | | | | | | | | | | | | | | | | | | | $ | 109,271,167 | | | | | $ | 109,314,356 | | | | | $ | 43,189 | | |
| Sold Contracts | | | Settlement
Date | | | Counterparty | | | Currency
Amount
Sold | | | Value at
Settlement
Date | | | Value at
October 31,
2021 | | | Unrealized
Appreciation | |
| Danish Krone | | | | | 11/05/21 | | | | Morgan Stanley | | | | | (23,618,417) | | | | | $ | (3,683,470) | | | | | $ | (3,674,469) | | | | | $ | 9,001 | | |
| Euro | | | | | 11/05/21 | | | | Morgan Stanley | | | | | (40,629,736) | | | | | | (47,114,315) | | | | | | (47,023,309) | | | | | | 91,006 | | |
| Japanese Yen | | | | | 11/05/21 | | | | Morgan Stanley | | | | | (4,275,425,497) | | | | | | (38,321,720) | | | | | | (37,496,807) | | | | | | 824,913 | | |
| Polish Zloty | | | | | 11/05/21 | | | | Morgan Stanley | | | | | (1,754,659) | | | | | | (441,771) | | | | | | (440,086) | | | | | | 1,685 | | |
| Unrealized Appreciation | | | | | | | | | | | | | | | | | | | $ | (89,561,276) | | | | | $ | (88,634,671) | | | | | $ | 926,605 | | |
| Total Unrealized Appreciation | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | $ | 969,794 | | |
| Purchased Contracts | | | Settlement
Date | | | Counterparty | | | Currency
Amount
Purchased | | | Value at
Settlement
Date | | | Value at
October 31,
2021 | | | Unrealized
(Depreciation) | |
| Australian Dollar | | | | | 11/05/21 | | | | Morgan Stanley | | | | | 14,975,437 | | | | | $ | 11,248,774 | | | | | $ | 11,248,269 | | | | | $ | (505) | | |
| Japanese Yen | | | | | 11/05/21 | | | | Morgan Stanley | | | | | 4,275,425,497 | | | | | | 37,498,786 | | | | | | 37,496,807 | | | | | | (1,979) | | |
| New Zealand Dollar | | | | | 11/05/21 | | | | Morgan Stanley | | | | | 719,193 | | | | | | 514,697 | | �� | | | | 514,656 | | | | | | (41) | | |
| Unrealized Depreciation | | | | | | | | | | | | | | | | | | | $ | 49,262,257 | | | | | $ | 49,259,732 | | | | | $ | (2,525) | | |
See notes to financial statements.
Schedule of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
October 31, 2021 (unaudited)
| Sold Contracts | | | Settlement
Date | | | Counterparty | | | Currency
Amount
Sold | | | Value at
Settlement
Date | | | Value at
October 31,
2021 | | | Unrealized
(Depreciation) | |
| Australian Dollar | | | | | 11/05/21 | | | | Morgan Stanley | | | | | (14,975,437) | | | | | $ | (10,818,988) | | | | | $ | (11,248,269) | | | | | $ | (429,281) | | |
| Australian Dollar | | | | | 12/06/21 | | | | Morgan Stanley | | | | | (14,841,434) | | | | | | (11,148,774) | | | | | | (11,148,964) | | | | | | (190) | | |
| Swiss Franc | | | | | 11/05/21 | | | | Morgan Stanley | | | | | (12,420,862) | | | | | | (13,324,440) | | | | | | (13,595,047) | | | | | | (270,607) | | |
| Swiss Franc | | | | | 12/06/21 | | | | Morgan Stanley | | | | | (12,952,420) | | | | | | (14,185,000) | | | | | | (14,189,554) | | | | | | (4,554) | | |
| Danish Krone | | | | | 12/06/21 | | | | Morgan Stanley | | | | | (25,136,776) | | | | | | (3,912,379) | | | | | | (3,913,554) | | | | | | (1,175) | | |
| Euro | | | | | 12/06/21 | | | | Morgan Stanley | | | | | (42,031,358) | | | | | | (48,665,756) | | | | | | (48,679,981) | | | | | | (14,225) | | |
| British Pound | | | | | 11/05/21 | | | | Morgan Stanley | | | | | (16,399,227) | | | | | | (22,111,329) | | | | | | (22,479,306) | | | | | | (367,977) | | |
| British Pound | | | | | 12/06/21 | | | | Morgan Stanley | | | | | (16,523,112) | | | | | | (22,647,217) | | | | | | (22,651,001) | | | | | | (3,784) | | |
| Hong Kong Dollar | | | | | 11/05/21 | | | | Morgan Stanley | | | | | (35,586,635) | | | | | | (4,571,911) | | | | | | (4,574,746) | | | | | | (2,835) | | |
| Hong Kong Dollar | | | | | 12/06/21 | | | | Morgan Stanley | | | | | (35,875,713) | | | | | | (4,611,920) | | | | | | (4,612,318) | | | | | | (398) | | |
| Israeli Shekel | | | | | 11/05/21 | | | | Morgan Stanley | | | | | (2,864,028) | | | | | | (887,843) | | | | | | (907,261) | | | | | | (19,418) | | |
| Israeli Shekel | | | | | 12/06/21 | | | | Morgan Stanley | | | | | (3,010,935) | | | | | | (953,832) | | | | | | (953,974) | | | | | | (142) | | |
| Japanese Yen | | | | | 12/06/21 | | | | Morgan Stanley | | | | | (4,208,281,695) | | | | | | (36,913,438) | | | | | | (36,919,323) | | | | | | (5,885) | | |
South Korean Won# | | | | | 11/05/21 | | | | Morgan Stanley | | | | | (9,934,512,500) | | | | | | (8,382,140) | | | | | | (8,500,356) | | | | | | (118,216) | | |
South Korean Won# | | | | | 12/06/21 | | | | Morgan Stanley | | | | | (9,586,497,575) | | | | | | (8,159,485) | | | | | | (8,196,110) | | | | | | (36,625) | | |
| Norwegian Krone | | | | | 11/05/21 | | | | Morgan Stanley | | | | | (9,376,824) | | | | | | (1,073,809) | | | | | | (1,108,427) | | | | | | (34,618) | | |
| Norwegian Krone | | | | | 12/06/21 | | | | Morgan Stanley | | | | | (9,405,036) | | | | | | (1,111,387) | | | | | | (1,111,513) | | | | | | (126) | | |
| New Zealand Dollar | | | | | 11/05/21 | | | | Morgan Stanley | | | | | (719,193) | | | | | | (496,019) | | | | | | (514,656) | | | | | | (18,637) | | |
| New Zealand Dollar | | | | | 12/06/21 | | | | Morgan Stanley | | | | | (702,076) | | | | | | (502,114) | | | | | | (502,176) | | | | | | (62) | | |
| Polish Zloty | | | | | 12/06/21 | | | | Morgan Stanley | | | | | (1,799,980) | | | | | | (451,123) | | | | | | (451,141) | | | | | | (18) | | |
| Swedish Krona | | | | | 11/05/21 | | | | Morgan Stanley | | | | | (46,200,777) | | | | | | (5,282,476) | | | | | | (5,379,588) | | | | | | (97,112) | | |
| Swedish Krona | | | | | 12/06/21 | | | | Morgan Stanley | | | | | (47,860,853) | | | | | | (5,573,410) | | | | | | (5,574,995) | | | | | | (1,585) | | |
| Singapore Dollar | | | | | 11/05/21 | | | | Morgan Stanley | | | | | (2,200,477) | | | | | | (1,620,746) | | | | | | (1,631,760) | | | | | | (11,014) | | |
| Singapore Dollar | | | | | 12/06/21 | | | | Morgan Stanley | | | | | (2,259,000) | | | | | | (1,674,585) | | | | | | (1,674,921) | | | | | | (336) | | |
| Unrealized Depreciation | | | | | | | | | | | | | | | | | | | $ | (229,080,121) | | | | | $ | (230,518,941) | | | | | $ | (1,438,820) | | |
| Total Unrealized Depreciation | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | $ | (1,441,345) | | |
| Net Unrealized Appreciation (Depreciation) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | $ | (471,551) | | |
#
Non-deliverable forward.
As of October 31, 2021, there was collateral segregated by the counterparty for forward foreign currency contracts in the amount of $2,908,936.
See notes to financial statements.
Schedule of Investments — IQ 50 Percent Hedged FTSE International ETF (continued)
October 31, 2021 (unaudited)
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investments in Securities:(g) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | | | $ | 318,210,721 | | | | | $ | 1,089,791 | | | | | $ | 18,584(h) | | | | | $ | 319,319,096 | | |
| Preferred Stocks | | | | | 2,557,607 | | | | | | — | | | | | | — | | | | | | 2,557,607 | | |
| Right | | | | | 2,238 | | | | | | — | | | | | | — | | | | | | 2,238 | | |
| Short-Term Investment: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Money Market Fund | | | | | 7,551,732 | | | | | | — | | | | | | — | | | | | | 7,551,732 | | |
| Total Investments in Securities | | | | | 328,322,298 | | | | | | 1,089,791 | | | | | | 18,584 | | | | | | 329,430,673 | | |
| Other Financial Instruments:(i) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Forward Foreign Currency Contracts | | | | | — | | | | | | 969,794 | | | | | | — | | | | | | 969,794 | | |
| Total Investments in Securities and Other Financial Instruments | | | | $ | 328,322,298 | | | | | $ | 2,059,585 | | | | | $ | 18,584 | | | | | $ | 330,400,467 | | |
| Liability Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Other Financial Instruments:(i) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Forward Foreign Currency Contracts | | | | $ | — | | | | | $ | 1,441,345 | | | | | $ | — | | | | | $ | 1,441,345 | | |
(g)
For a complete listing of investments and their countries, see the Schedule of Investments.
(h)
The Level 3 securities, valued in total at $18,584, 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.
A reconciliation of assets in which Level 3 inputs are used in determining fair value is presented when there are significant Level 3 financial instruments at the beginning and/or end of the period.
See notes to financial statements.
Schedule of Investments — IQ Chaikin U.S. Large Cap ETF
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks — 100.0% | |
| Communication Services — 8.4% | |
| Activision Blizzard, Inc. | | | | | 31,126 | | | | | $ | 2,433,742 | | |
Alphabet, Inc., Class A* | | | | | 1,404 | | | | | | 4,157,132 | | |
Charter Communications, Inc., Class A*(a) | | | | | 4,691 | | | | | | 3,165,909 | | |
| Comcast Corp., Class A | | | | | 53,493 | | | | | | 2,751,145 | | |
Facebook, Inc.* | | | | | 9,829 | | | | | | 3,180,369 | | |
Liberty Broadband Corp., Class C* | | | | | 19,278 | | | | | | 3,131,711 | | |
Snap, Inc., Class A* | | | | | 55,355 | | | | | | 2,910,566 | | |
Take-Two Interactive Software, Inc.* | | | | | 16,382 | | | | | | 2,965,142 | | |
T-Mobile US, Inc.* | | | | | 23,104 | | | | | | 2,657,653 | | |
| Total Communication Services | | | | | | | | | | | 27,353,369 | | |
| Consumer Discretionary — 9.4% | |
Amazon.com, Inc.* | | | | | 936 | | | | | | 3,156,595 | | |
AutoZone, Inc.* | | | | | 2,061 | | | | | | 3,678,555 | | |
| Dollar General Corp. | | | | | 14,284 | | | | | | 3,164,192 | | |
| Garmin Ltd. | | | | | 21,952 | | | | | | 3,152,307 | | |
| Home Depot, Inc. (The) | | | | | 9,483 | | | | | | 3,525,210 | | |
NVR, Inc.* | | | | | 614 | | | | | | 3,005,407 | | |
O’Reilly Automotive, Inc.* | | | | | 5,707 | | | | | | 3,551,580 | | |
| Target Corp. | | | | | 14,614 | | | | | | 3,794,087 | | |
| Tractor Supply Co. | | | | | 16,344 | | | | | | 3,549,427 | | |
| Total Consumer Discretionary | | | | | | | | | | | 30,577,360 | | |
| Consumer Staples — 3.9% | |
| Archer-Daniels-Midland Co. | | | | | 50,783 | | | | | | 3,262,300 | | |
| Hershey Co. (The) | | | | | 18,302 | | | | | | 3,209,256 | | |
| PepsiCo, Inc. | | | | | 20,462 | | | | | | 3,306,659 | | |
| Tyson Foods, Inc., Class A | | | | | 38,956 | | | | | | 3,115,311 | | |
| Total Consumer Staples | | | | | | | | | | | 12,893,526 | | |
| Energy — 1.3% | |
| DT Midstream, Inc. | | | | | 10,870 | | | | | | 521,325 | | |
| EOG Resources, Inc. | | | | | 40,415 | | | | | | 3,736,771 | | |
| Total Energy | | | | | | | | | | | 4,258,096 | | |
| Financials — 13.6% | |
| Aflac, Inc. | | | | | 56,558 | | | | | | 3,035,468 | | |
| Allstate Corp. (The) | | | | | 25,193 | | | | | | 3,115,618 | | |
| Bank of New York Mellon Corp. (The) | | | | | 61,208 | | | | | | 3,623,514 | | |
Berkshire Hathaway, Inc., Class B* | | | | | 11,331 | | | | | | 3,252,110 | | |
| BlackRock, Inc. | | | | | 3,840 | | | | | | 3,622,887 | | |
| Charles Schwab Corp. (The) | | | | | 44,410 | | | | | | 3,642,952 | | |
| Chubb Ltd. | | | | | 18,324 | | | | | | 3,580,143 | | |
Markel Corp.* | | | | | 2,541 | | | | | | 3,336,663 | | |
| Nasdaq, Inc. | | | | | 19,630 | | | | | | 4,119,748 | | |
| Northern Trust Corp. | | | | | 27,537 | | | | | | 3,388,153 | | |
| Progressive Corp. (The) | | | | | 30,275 | | | | | | 2,872,492 | | |
| T Rowe Price Group, Inc. | | | | | 17,130 | | | | | | 3,715,154 | | |
| Travelers Cos., Inc. (The) | | | | | 19,246 | | | | | | 3,096,297 | | |
| Total Financials | | | | | | | | | | | 44,401,199 | | |
| Health Care — 16.5% | |
| Abbott Laboratories | | | | | 24,153 | | | | | | 3,113,080 | | |
| AmerisourceBergen Corp. | | | | | 24,516 | | | | | | 2,991,442 | | |
| Baxter International, Inc. | | | | | 34,321 | | | | | | 2,709,986 | | |
| Becton Dickinson and Co. | | | | | 11,905 | | | | | | 2,852,319 | | |
| Cardinal Health, Inc. | | | | | 47,648 | | | | | | 2,278,051 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Health Care (continued) | |
| Cigna Corp. | | | | | 11,974 | | | | | $ | 2,557,766 | | |
| CVS Health Corp. | | | | | 38,477 | | | | | | 3,435,227 | | |
| Danaher Corp. | | | | | 12,861 | | | | | | 4,009,674 | | |
IDEXX Laboratories, Inc.* | | | | | 5,916 | | | | | | 3,940,884 | | |
| Johnson & Johnson | | | | | 17,612 | | | | | | 2,868,643 | | |
| McKesson Corp. | | | | | 14,839 | | | | | | 3,084,731 | | |
Regeneron Pharmaceuticals, Inc.* | | | | | 6,118 | | | | | | 3,915,153 | | |
| Stryker Corp. | | | | | 11,884 | | | | | | 3,161,976 | | |
Teladoc Health, Inc.* | | | | | 15,926 | | | | | | 2,382,371 | | |
| UnitedHealth Group, Inc. | | | | | 7,780 | | | | | | 3,582,457 | | |
Vertex Pharmaceuticals, Inc.* | | | | | 13,470 | | | | | | 2,491,007 | | |
| West Pharmaceutical Services, Inc. | | | | | 10,273 | | | | | | 4,416,157 | | |
| Total Health Care | | | | | | | | | | | 53,790,924 | | |
| Industrials — 10.0% | |
| 3M Co. | | | | | 15,021 | | | | | | 2,683,952 | | |
| AMETEK, Inc. | | | | | 22,661 | | | | | | 3,000,316 | | |
| Caterpillar, Inc. | | | | | 12,484 | | | | | | 2,546,861 | | |
| Cummins, Inc. | | | | | 11,172 | | | | | | 2,679,493 | | |
| Deere & Co. | | | | | 7,736 | | | | | | 2,648,110 | | |
| General Dynamics Corp. | | | | | 15,942 | | | | | | 3,232,241 | | |
| L3Harris Technologies, Inc. | | | | | 14,280 | | | | | | 3,292,111 | | |
| Lockheed Martin Corp. | | | | | 7,834 | | | | | | 2,603,395 | | |
| Northrop Grumman Corp. | | | | | 8,944 | | | | | | 3,194,976 | | |
| Old Dominion Freight Line, Inc. | | | | | 12,038 | | | | | | 4,109,171 | | |
| PACCAR, Inc. | | | | | 31,152 | | | | | | 2,791,842 | | |
| Total Industrials | | | | | | | | | | | 32,782,468 | | |
| Information Technology — 28.2% | |
| Accenture PLC, Class A | | | | | 10,478 | | | | | | 3,759,402 | | |
Adobe, Inc.* | | | | | 6,090 | | | | | | 3,960,692 | | |
Akamai Technologies, Inc.* | | | | | 28,406 | | | | | | 2,995,697 | | |
ANSYS, Inc.* | | | | | 8,525 | | | | | | 3,235,920 | | |
Arista Networks, Inc.* | | | | | 9,588 | | | | | | 3,928,108 | | |
| Automatic Data Processing, Inc. | | | | | 15,358 | | | | | | 3,447,717 | | |
| Broadcom, Inc. | | | | | 6,242 | | | | | | 3,318,684 | | |
Cadence Design Systems, Inc.* | | | | | 21,130 | | | | | | 3,657,814 | | |
| CDW Corp. | | | | | 17,462 | | | | | | 3,259,282 | | |
| Citrix Systems, Inc. | | | | | 20,621 | | | | | | 1,953,427 | | |
Coupa Software, Inc.* | | | | | 11,375 | | | | | | 2,590,088 | | |
Dell Technologies, Inc., Class C* | | | | | 32,838 | | | | | | 3,611,852 | | |
DocuSign, Inc.* | | | | | 14,296 | | | | | | 3,978,434 | | |
Fiserv, Inc.* | | | | | 24,316 | | | | | | 2,394,883 | | |
| HP, Inc. | | | | | 91,168 | | | | | | 2,765,125 | | |
| Intel Corp. | | | | | 45,228 | | | | | | 2,216,172 | | |
| International Business Machines Corp. | | | | | 21,721 | | | | | | 2,717,297 | | |
| Intuit, Inc. | | | | | 7,555 | | | | | | 4,729,354 | | |
| Microsoft Corp. | | | | | 12,278 | | | | | | 4,071,630 | | |
salesforce.com, Inc.* | | | | | 13,662 | | | | | | 4,094,365 | | |
Synopsys, Inc.* | | | | | 11,680 | | | | | | 3,891,542 | | |
| Texas Instruments, Inc. | | | | | 15,316 | | | | | | 2,871,444 | | |
Trade Desk, Inc. (The), Class A* | | | | | 44,419 | | | | | | 3,327,427 | | |
Tyler Technologies, Inc.* | | | | | 6,816 | | | | | | 3,702,588 | | |
VeriSign, Inc.* | | | | | 14,563 | | | | | | 3,242,743 | | |
VMware, Inc., Class A*(a) | | | | | 19,240 | | | | | | 2,918,708 | | |
Zscaler, Inc.* | | | | | 16,861 | | | | | | 5,376,299 | | |
| Total Information Technology | | | | | | | | | | | 92,016,694 | | |
| |
See notes to financial statements.
Schedule of Investments — IQ Chaikin U.S. Large Cap ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Materials — 1.6% | |
| Corteva, Inc. | | | | | 62,088 | | | | | $ | 2,679,097 | | |
| Newmont Corp. | | | | | 48,027 | | | | | | 2,593,458 | | |
| Total Materials | | | | | | | | | | | 5,272,555 | | |
| Real Estate — 5.5% | |
| Crown Castle International Corp. | | | | | 16,816 | | | | | | 3,031,925 | | |
| Essex Property Trust, Inc. | | | | | 10,648 | | | | | | 3,619,574 | | |
| Invitation Homes, Inc. | | | | | 90,483 | | | | | | 3,732,424 | | |
| Prologis, Inc. | | | | | 27,307 | | | | | | 3,958,423 | | |
| Sun Communities, Inc. | | | | | 19,292 | | | | | | 3,780,846 | | |
| Total Real Estate | | | | | | | | | | | 18,123,192 | | |
| Utilities — 1.6% | |
| CMS Energy Corp. | | | | | 47,282 | | | | | | 2,853,469 | | |
| DTE Energy Co. | | | | | 21,739 | | | | | | 2,464,115 | | |
| Total Utilities | | | | | | | | | | | 5,317,584 | | |
Total Common Stocks
(Cost $269,957,062) | | | | | | | | | | | 326,786,967 | | |
| Short-Term Investments — 0.9% | | | |
| Money Market Funds — 0.9% | | | |
Dreyfus Government Cash Management Fund, Institutional Shares, 0.03%(b)(c) | | | | | 2,884,828 | | | | | | 2,884,828 | | |
| | | | Shares | | | Value | |
| Short-Term Investments (continued) | | | |
| Money Market Funds (continued) | | | |
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 0.01%(b) | | | | | 88,124 | | | | | $ | 88,124 | | |
Total Short-Term Investments
(Cost $2,972,952) | | | | | | | | | | | 2,972,952 | | |
Total Investments — 100.9%
(Cost $272,930,014) | | | | | | | | | | | 329,759,919 | | |
Other Assets and Liabilities,
Net — (0.9)% | | | | | | | | | | | (2,815,998) | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 326,943,921 | | |
| |
*
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 $4,982,308; total market value of collateral held by the Fund was $5,198,792. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $2,313,963.
(b)
Reflects the 1-day yield at October 31, 2021.
(c)
Represents security purchased with cash collateral received for securities on loan.
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investments in Securities:(d) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | | | $ | 326,786,967 | | | | | $ | — | | | | | $ | — | | | | | $ | 326,786,967 | | |
| Short-Term Investments: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Money Market Funds | | | | | 2,972,952 | | | | | | — | | | | | | — | | | | | | 2,972,952 | | |
| Total Investments in Securities | | | | $ | 329,759,919 | | | | | $ | — | | | | | $ | — | | | | | $ | 329,759,919 | | |
(d)
For a complete listing of investments and their industries, see the Schedule of Investments.
For the period ended October 31, 2021, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 2)
See notes to financial statements.
Schedule of Investments — IQ Chaikin U.S. Small Cap ETF
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks — 99.9% | |
| Communication Services — 3.2% | |
AMC Networks, Inc., Class A* | | | | | 8,298 | | | | | $ | 330,177 | | |
Angi, Inc.* | | | | | 33,933 | | | | | | 425,180 | | |
Cargurus, Inc.* | | | | | 18,510 | | | | | | 620,825 | | |
Consolidated Communications Holdings, Inc.* | | | | | 61,267 | | | | | | 453,376 | | |
Emerald Holding, Inc.* | | | | | 79,915 | | | | | | 323,656 | | |
IDT Corp., Class B* | | | | | 19,468 | | | | | | 941,667 | | |
Liberty Latin America Ltd., Class C* | | | | | 33,986 | | | | | | 408,851 | | |
QuinStreet, Inc.* | | | | | 21,729 | | | | | | 304,206 | | |
| Scholastic Corp. | | | | | 14,651 | | | | | | 530,220 | | |
Sinclair Broadcast Group, Inc.,
Class A | | | | | 15,075 | | | | | | 393,910 | | |
| TEGNA, Inc. | | | | | 23,427 | | | | | | 460,575 | | |
| Telephone and Data Systems, Inc. | | | | | 19,213 | | | | | | 360,052 | | |
TrueCar, Inc.* | | | | | 92,188 | | | | | | 386,268 | | |
United States Cellular Corp.* | | | | | 12,091 | | | | | | 369,622 | | |
World Wrestling Entertainment, Inc., Class A(a) | | | | | 8,129 | | | | | | 496,601 | | |
Ziff Davis, Inc.* | | | | | 3,680 | | | | | | 472,033 | | |
| Total Communication Services | | | | | | | | | | | 7,277,219 | | |
| Consumer Discretionary — 9.3% | |
1-800-Flowers.com, Inc., Class A* | | | | | 15,977 | | | | | | 513,181 | | |
Adtalem Global Education, Inc.* | | | | | 11,157 | | | | | | 412,028 | | |
America’s Car-Mart, Inc.* | | | | | 2,896 | | | | | | 346,043 | | |
American Eagle Outfitters, Inc.(a) | | | | | 15,086 | | | | | | 358,142 | | |
American Public Education, Inc.* | | | | | 12,381 | | | | | | 309,401 | | |
Asbury Automotive Group, Inc.* | | | | | 2,245 | | | | | | 439,369 | | |
| Carriage Services, Inc. | | | | | 12,536 | | | | | | 644,977 | | |
| Cato Corp. (The), Class A | | | | | 36,760 | | | | | | 648,079 | | |
Children’s Place, Inc. (The)*(a) | | | | | 6,329 | | | | | | 524,611 | | |
| Dillard’s, Inc., Class A | | | | | 4,568 | | | | | | 1,055,848 | | |
| Escalade, Inc. | | | | | 21,098 | | | | | | 394,744 | | |
| Ethan Allen Interiors, Inc. | | | | | 16,841 | | | | | | 390,880 | | |
| Foot Locker, Inc. | | | | | 7,843 | | | | | | 373,876 | | |
Genius Brands International, Inc.*(a) | | | | | 227,386 | | | | | | 316,067 | | |
Gentherm, Inc.* | | | | | 5,953 | | | | | | 438,319 | | |
| Graham Holdings Co., Class B | | | | | 785 | | | | | | 459,892 | | |
Green Brick Partners, Inc.* | | | | | 19,450 | | | | | | 506,672 | | |
| Haverty Furniture Cos., Inc. | | | | | 11,861 | | | | | | 340,411 | | |
| Hooker Furnishings Corp. | | | | | 12,098 | | | | | | 304,991 | | |
iRobot Corp.* | | | | | 3,611 | | | | | | 301,230 | | |
| Johnson Outdoors, Inc., Class A | | | | | 3,090 | | | | | | 328,096 | | |
Lakeland Industries, Inc.* | | | | | 15,833 | | | | | | 331,068 | | |
| LCI Industries | | | | | 3,335 | | | | | | 465,699 | | |
Liquidity Services, Inc.* | | | | | 23,741 | | | | | | 524,201 | | |
Lumber Liquidators Holdings, Inc.* | | | | | 17,560 | | | | | | 317,485 | | |
MarineMax, Inc.* | | | | | 8,937 | | | | | | 462,847 | | |
| MDC Holdings, Inc. | | | | | 7,426 | | | | | | 363,725 | | |
Motorcar Parts of America, Inc.* | | | | | 19,607 | | | | | | 370,964 | | |
| Murphy USA, Inc. | | | | | 3,050 | | | | | | 496,998 | | |
National Vision Holdings, Inc.* | | | | | 10,065 | | | | | | 620,407 | | |
Norwegian Cruise Line Holdings
Ltd.*(a) | | | | | 15,989 | | | | | | 411,237 | | |
| Penske Automotive Group, Inc. | | | | | 5,499 | | | | | | 583,169 | | |
Perdoceo Education Corp.* | | | | | 36,883 | | | | | | 391,697 | | |
| Rent-A-Center, Inc. | | | | | 7,650 | | | | | | 407,439 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Consumer Discretionary (continued) | |
| Rocky Brands, Inc. | | | | | 8,160 | | | | | $ | 445,128 | | |
Sally Beauty Holdings, Inc.* | | | | | 21,914 | | | | | | 334,408 | | |
| Smith & Wesson Brands, Inc. | | | | | 25,280 | | | | | | 543,520 | | |
| Standard Motor Products, Inc. | | | | | 10,608 | | | | | | 508,123 | | |
| Strategic Education, Inc. | | | | | 4,799 | | | | | | 327,340 | | |
| Superior Group of Cos., Inc. | | | | | 17,354 | | | | | | 451,030 | | |
Tri Pointe Homes, Inc.* | | | | | 21,666 | | | | | | 524,101 | | |
Unifi, Inc.* | | | | | 16,007 | | | | | | 384,488 | | |
Universal Electronics, Inc.* | | | | | 8,024 | | | | | | 330,428 | | |
Vista Outdoor, Inc.* | | | | | 13,755 | | | | | | 575,509 | | |
Vivint Smart Home, Inc.* | | | | | 30,804 | | | | | | 279,392 | | |
| Winmark Corp. | | | | | 2,367 | | | | | | 551,085 | | |
Zumiez, Inc.* | | | | | 10,283 | | | | | | 418,518 | | |
| Total Consumer Discretionary | | | | | | | | | | | 20,826,863 | | |
| Consumer Staples — 3.2% | |
BellRing Brands, Inc., Class A* | | | | | 18,684 | | | | | | 501,105 | | |
Central Garden & Pet Co., Class A* | | | | | 8,500 | | | | | | 392,700 | | |
| Coca-Cola Consolidated, Inc. | | | | | 1,529 | | | | | | 613,741 | | |
| Edgewell Personal Care Co. | | | | | 11,139 | | | | | | 389,754 | | |
| Ingles Markets, Inc., Class A | | | | | 7,155 | | | | | | 495,054 | | |
| Medifast, Inc. | | | | | 2,082 | | | | | | 408,634 | | |
| National Beverage Corp. | | | | | 9,019 | | | | | | 508,672 | | |
| Nu Skin Enterprises, Inc., Class A | | | | | 8,342 | | | | | | 334,931 | | |
Pilgrim’s Pride Corp.* | | | | | 18,542 | | | | | | 522,143 | | |
| Seaboard Corp. | | | | | 119 | | | | | | 458,152 | | |
Seneca Foods Corp., Class A* | | | | | 9,367 | | | | | | 483,618 | | |
| Spectrum Brands Holdings, Inc. | | | | | 5,189 | | | | | | 486,469 | | |
Sprouts Farmers Market, Inc.* | | | | | 16,571 | | | | | | 366,882 | | |
| Universal Corp. | | | | | 7,479 | | | | | | 351,513 | | |
USANA Health Sciences, Inc.* | | | | | 4,518 | | | | | | 438,517 | | |
| Weis Markets, Inc. | | | | | 7,805 | | | | | | 439,499 | | |
| Total Consumer Staples | | | | | | | | | | | 7,191,384 | | |
| Energy — 4.2% | |
| Archrock, Inc. | | | | | 46,485 | | | | | | 380,712 | | |
| Brigham Minerals, Inc., Class A | | | | | 30,133 | | | | | | 698,483 | | |
ChampionX Corp.* | | | | | 20,300 | | | | | | 532,469 | | |
Comstock Resources, Inc.* | | | | | 79,626 | | | | | | 785,909 | | |
| CVR Energy, Inc. | | | | | 29,060 | | | | | | 557,080 | | |
Dril-Quip, Inc.* | | | | | 13,276 | | | | | | 312,783 | | |
EQT Corp.* | | | | | 23,741 | | | | | | 472,683 | | |
Exterran Corp.* | | | | | 131,289 | | | | | | 561,917 | | |
Helix Energy Solutions Group, Inc.* | | | | | 87,353 | | | | | | 330,194 | | |
International Seaways, Inc.(a) | | | | | 47,115 | | | | | | 826,868 | | |
Liberty Oilfield Services, Inc.,
Class A* | | | | | 39,071 | | | | | | 504,797 | | |
NextDecade Corp.* | | | | | 165,217 | | | | | | 606,347 | | |
NexTier Oilfield Solutions, Inc.* | | | | | 118,581 | | | | | | 528,871 | | |
ProPetro Holding Corp.* | | | | | 41,382 | | | | | | 396,854 | | |
Renewable Energy Group, Inc.*(a) | | | | | 6,680 | | | | | | 427,520 | | |
REX American Resources Corp.* | | | | | 5,242 | | | | | | 461,034 | | |
Solaris Oilfield Infrastructure, Inc.,
Class A | | | | | 35,953 | | | | | | 272,883 | | |
Tellurian, Inc.*(a) | | | | | 188,514 | | | | | | 738,975 | | |
| Total Energy | | | | | | | | | | | 9,396,379 | | |
| |
See notes to financial statements.
Schedule of Investments — IQ Chaikin U.S. Small Cap ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Financials — 27.5% | |
| 1st Source Corp. | | | | | 9,271 | | | | | $ | 447,604 | | |
| Affiliated Managers Group, Inc. | | | | | 2,960 | | | | | | 496,925 | | |
| Allegiance Bancshares, Inc. | | | | | 10,881 | | | | | | 426,209 | | |
| A-Mark Precious Metals, Inc. | | | | | 12,669 | | | | | | 950,048 | | |
| American National Group, Inc. | | | | | 4,090 | | | | | | 775,914 | | |
| Ameris Bancorp | | | | | 8,400 | | | | | | 440,076 | | |
| Argo Group International Holdings Ltd. | | | | | 8,766 | | | | | | 483,007 | | |
| Artisan Partners Asset Management, Inc., Class A | | | | | 8,456 | | | | | | 418,910 | | |
| Associated Banc-Corp. | | | | | 20,671 | | | | | | 460,550 | | |
Atlantic Capital Bancshares, Inc.* | | | | | 18,303 | | | | | | 503,516 | | |
| Atlantic Union Bankshares Corp. | | | | | 11,499 | | | | | | 412,469 | | |
| Axis Capital Holdings Ltd. | | | | | 8,899 | | | | | | 463,371 | | |
Axos Financial, Inc.* | | | | | 9,383 | | | | | | 497,299 | | |
| B Riley Financial, Inc. | | | | | 8,268 | | | | | | 592,485 | | |
| BankUnited, Inc. | | | | | 10,037 | | | | | | 407,101 | | |
| Banner Corp. | | | | | 8,271 | | | | | | 477,733 | | |
| Berkshire Hills Bancorp, Inc. | | | | | 19,763 | | | | | | 536,566 | | |
Blucora, Inc.* | | | | | 26,510 | | | | | | 437,945 | | |
| Brookline Bancorp, Inc. | | | | | 29,407 | | | | | | 471,982 | | |
| Cadence Bank | | | | | 13,581 | | | | | | 394,121 | | |
| Cambridge Bancorp | | | | | 5,232 | | | | | | 480,350 | | |
| Camden National Corp. | | | | | 9,218 | | | | | | 438,777 | | |
Cannae Holdings, Inc.* | | | | | 11,134 | | | | | | 379,669 | | |
| Cathay General Bancorp | | | | | 10,818 | | | | | | 456,411 | | |
| CBTX, Inc. | | | | | 14,359 | | | | | | 390,565 | | |
| Central Pacific Financial Corp. | | | | | 16,533 | | | | | | 454,492 | | |
| City Holding Co. | | | | | 5,393 | | | | | | 429,175 | | |
| CNO Financial Group, Inc. | | | | | 18,160 | | | | | | 438,382 | | |
| Cohen & Steers, Inc. | | | | | 6,751 | | | | | | 640,602 | | |
| Community Trust Bancorp, Inc. | | | | | 10,019 | | | | | | 437,630 | | |
| Cowen, Inc., Class A | | | | | 12,551 | | | | | | 473,549 | | |
| CVB Financial Corp. | | | | | 19,970 | | | | | | 399,799 | | |
| Diamond Hill Investment Group, Inc. | | | | | 2,827 | | | | | | 613,063 | | |
| Eagle Bancorp, Inc. | | | | | 8,290 | | | | | | 469,131 | | |
Enstar Group Ltd.* | | | | | 1,789 | | | | | | 412,865 | | |
| Enterprise Financial Services Corp. | | | | | 8,923 | | | | | | 419,560 | | |
| Evercore, Inc., Class A | | | | | 3,349 | | | | | | 508,512 | | |
EZCORP, Inc., Class A* | | | | | 88,757 | | | | | | 662,127 | | |
| Federal Agricultural Mortgage Corp., Class C | | | | | 4,381 | | | | | | 552,400 | | |
| Financial Institutions, Inc. | | | | | 14,562 | | | | | | 464,819 | | |
| First Bancshares, Inc. (The) | | | | | 12,050 | | | | | | 485,013 | | |
| First BankCorp | | | | | 10,141 | | | | | | 491,027 | | |
| First Busey Corp. | | | | | 17,198 | | | | | | 438,377 | | |
| First Commonwealth Financial Corp. | | | | | 30,697 | | | | | | 469,664 | | |
| First Foundation, Inc. | | | | | 18,803 | | | | | | 500,348 | | |
| First Merchants Corp. | | | | | 9,485 | | | | | | 394,386 | | |
| First Mid Bancshares, Inc. | | | | | 10,042 | | | | | | 432,609 | | |
| First of Long Island Corp. (The) | | | | | 20,758 | | | | | | 417,859 | | |
| Flushing Financial Corp. | | | | | 20,778 | | | | | | 499,088 | | |
| FNB Corp. | | | | | 34,733 | | | | | | 404,639 | | |
| Fulton Financial Corp. | | | | | 25,903 | | | | | | 417,038 | | |
| German American Bancorp, Inc. | | | | | 9,544 | | | | | | 376,225 | | |
| Greenhill & Co., Inc. | | | | | 26,768 | | | | | | 420,793 | | |
| Hanmi Financial Corp. | | | | | 22,357 | | | | | | 496,102 | | |
| Hanover Insurance Group, Inc. (The) | | | | | 3,406 | | | | | | 429,156 | | |
| HarborOne Bancorp, Inc. | | | | | 32,750 | | | | | | 470,618 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Financials (continued) | |
| HBT Financial, Inc. | | | | | 25,767 | | | | | $ | 464,579 | | |
| Heartland Financial USA, Inc. | | | | | 8,777 | | | | | | 439,903 | | |
| Heritage Commerce Corp. | | | | | 36,097 | | | | | | 432,803 | | |
| Heritage Financial Corp. | | | | | 15,621 | | | | | | 388,026 | | |
| Heritage Insurance Holdings, Inc. | | | | | 39,811 | | | | | | 260,364 | | |
| Hilltop Holdings, Inc. | | | | | 12,926 | | | | | | 458,097 | | |
| Hingham Institution For Savings The | | | | | 1,553 | | | | | | 561,006 | | |
| HomeStreet, Inc. | | | | | 10,009 | | | | | | 472,024 | | |
| Hope Bancorp, Inc. | | | | | 29,290 | | | | | | 427,341 | | |
| Horace Mann Educators Corp. | | | | | 10,210 | | | | | | 400,028 | | |
| Houlihan Lokey, Inc. | | | | | 6,631 | | | | | | 743,203 | | |
| Independent Bank Corp. | | | | | 18,659 | | | | | | 420,387 | | |
Interactive Brokers Group, Inc.,
Class A | | | | | 6,039 | | | | | | 427,863 | | |
| International Bancshares Corp. | | | | | 9,502 | | | | | | 402,885 | | |
| Investors Bancorp, Inc. | | | | | 30,028 | | | | | | 459,428 | | |
| Kearny Financial Corp. | | | | | 36,517 | | | | | | 490,058 | | |
| Lakeland Bancorp, Inc. | | | | | 25,310 | | | | | | 455,074 | | |
| Lazard Ltd., Class A | | | | | 10,138 | | | | | | 496,661 | | |
Live Oak Bancshares, Inc.(a) | | | | | 6,441 | | | | | | 574,408 | | |
| Mercantile Bank Corp. | | | | | 13,585 | | | | | | 466,916 | | |
| Merchants Bancorp | | | | | 10,518 | | | | | | 467,315 | | |
| Mercury General Corp. | | | | | 7,253 | | | | | | 395,216 | | |
Metropolitan Bank Holding Corp.* | | | | | 8,759 | | | | | | 795,843 | | |
| Midland States Bancorp, Inc. | | | | | 15,903 | | | | | | 408,071 | | |
| MidWestOne Financial Group, Inc. | | | | | 14,244 | | | | | | 446,549 | | |
| Moelis & Co., Class A | | | | | 8,338 | | | | | | 606,506 | | |
| MVB Financial Corp. | | | | | 13,052 | | | | | | 557,190 | | |
| National Western Life Group, Inc., Class A | | | | | 1,773 | | | | | | 381,213 | | |
| NBT Bancorp, Inc. | | | | | 11,057 | | | | | | 405,681 | | |
| Northfield Bancorp, Inc. | | | | | 27,708 | | | | | | 486,275 | | |
| Northwest Bancshares, Inc. | | | | | 30,526 | | | | | | 421,259 | | |
| OceanFirst Financial Corp. | | | | | 18,426 | | | | | | 408,504 | | |
| OFG Bancorp | | | | | 19,500 | | | | | | 505,050 | | |
Oportun Financial Corp.* | | | | | 21,300 | | | | | | 494,799 | | |
| Oppenheimer Holdings, Inc., Class A | | | | | 11,014 | | | | | | 573,279 | | |
| Peapack-Gladstone Financial Corp. | | | | | 14,286 | | | | | | 479,295 | | |
| PennyMac Financial Services, Inc. | | | | | 6,598 | | | | | | 409,472 | | |
| Peoples Bancorp, Inc. | | | | | 13,300 | | | | | | 425,068 | | |
| Pinnacle Financial Partners, Inc. | | | | | 4,976 | | | | | | 480,532 | | |
| Piper Sandler Cos. | | | | | 4,025 | | | | | | 662,877 | | |
| Popular, Inc. | | | | | 6,272 | | | | | | 510,792 | | |
| Preferred Bank | | | | | 6,927 | | | | | | 474,984 | | |
| Premier Financial Corp. | | | | | 13,263 | | | | | | 422,824 | | |
| PROG Holdings, Inc. | | | | | 10,191 | | | | | | 412,226 | | |
| Provident Financial Services, Inc. | | | | | 19,799 | | | | | | 490,223 | | |
| QCR Holdings, Inc. | | | | | 9,343 | | | | | | 515,173 | | |
| Republic Bancorp, Inc., Class A | | | | | 9,961 | | | | | | 538,093 | | |
| S&T Bancorp, Inc. | | | | | 13,169 | | | | | | 402,445 | | |
| Safety Insurance Group, Inc. | | | | | 5,237 | | | | | | 410,633 | | |
| Sandy Spring Bancorp, Inc. | | | | | 10,157 | | | | | | 482,051 | | |
| Sculptor Capital Management, Inc. | | | | | 20,161 | | | | | | 534,267 | | |
| Selective Insurance Group, Inc. | | | | | 6,081 | | | | | | 476,568 | | |
ServisFirst Bancshares, Inc.(a) | | | | | 7,193 | | | | | | 577,670 | | |
| Simmons First National Corp., Class A | | | | | 14,868 | | | | | | 444,405 | | |
SiriusPoint Ltd.* | | | | | 43,376 | | | | | | 407,734 | | |
| SLM Corp. | | | | | 24,549 | | | | | | 450,474 | | |
See notes to financial statements.
Schedule of Investments — IQ Chaikin U.S. Small Cap ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Financials (continued) | |
Southern First Bancshares, Inc.* | | | | | 9,410 | | | | | $ | 506,917 | | |
| SouthState Corp. | | | | | 5,620 | | | | | | 438,866 | | |
| Stewart Information Services Corp. | | | | | 8,480 | | | | | | 603,522 | | |
| Towne Bank | | | | | 14,511 | | | | | | 457,387 | | |
| TriCo Bancshares | | | | | 9,313 | | | | | | 408,189 | | |
| Trustmark Corp. | | | | | 13,105 | | | | | | 416,870 | | |
| UMB Financial Corp. | | | | | 4,776 | | | | | | 471,964 | | |
| Umpqua Holdings Corp. | | | | | 25,135 | | | | | | 514,011 | | |
| United Community Banks, Inc. | | | | | 12,930 | | | | | | 450,481 | | |
| United Fire Group, Inc. | | | | | 12,677 | | | | | | 258,991 | | |
| Universal Insurance Holdings, Inc. | | | | | 30,763 | | | | | | 454,370 | | |
| Univest Financial Corp. | | | | | 15,428 | | | | | | 442,784 | | |
| Valley National Bancorp | | | | | 32,106 | | | | | | 425,726 | | |
| Victory Capital Holdings, Inc., Class A | | | | | 17,260 | | | | | | 654,154 | | |
| Virtus Investment Partners, Inc. | | | | | 1,874 | | | | | | 599,680 | | |
| Walker & Dunlop, Inc. | | | | | 4,293 | | | | | | 558,391 | | |
| WesBanco, Inc. | | | | | 12,233 | | | | | | 425,341 | | |
| Wintrust Financial Corp. | | | | | 5,820 | | | | | | 515,070 | | |
| Total Financials | | | | | | | | | | | 61,962,975 | | |
| Health Care — 12.8% | |
Akero Therapeutics, Inc.*(a) | | | | | 15,205 | | | | | | 326,755 | | |
Alector, Inc.*(a) | | | | | 21,903 | | | | | | 476,171 | | |
Alkermes PLC* | | | | | 23,614 | | | | | | 715,268 | | |
Allscripts Healthcare Solutions, Inc.* | | | | | 29,380 | | | | | | 404,856 | | |
Amneal Pharmaceuticals, Inc.* | | | | | 65,547 | | | | | | 359,853 | | |
AngioDynamics, Inc.* | | | | | 18,852 | | | | | | 539,167 | | |
Aquestive Therapeutics, Inc.* | | | | | 84,832 | | | | | | 436,036 | | |
Arcutis Biotherapeutics, Inc.* | | | | | 15,248 | | | | | | 322,953 | | |
Assembly Biosciences, Inc.* | | | | | 95,895 | | | | | | 302,069 | | |
Avanos Medical, Inc.* | | | | | 10,087 | | | | | | 318,144 | | |
Axogen, Inc.* | | | | | 21,773 | | | | | | 330,732 | | |
Axonics, Inc.*(a) | | | | | 7,367 | | | | | | 540,369 | | |
Beam Therapeutics, Inc.* | | | | | 5,510 | | | | | | 489,123 | | |
BioDelivery Sciences International,
Inc.* | | | | | 112,820 | | | | | | 460,306 | | |
Bioxcel Therapeutics, Inc.*(a) | | | | | 10,219 | | | | | | 297,782 | | |
Catalyst Pharmaceuticals, Inc.* | | | | | 95,688 | | | | | | 564,559 | | |
Cerus Corp.* | | | | | 73,398 | | | | | | 484,427 | | |
Coherus Biosciences, Inc.* | | | | | 30,193 | | | | | | 505,129 | | |
Collegium Pharmaceutical, Inc.* | | | | | 18,614 | | | | | | 365,393 | | |
Computer Programs and Systems,
Inc.* | | | | | 14,417 | | | | | | 520,454 | | |
Concert Pharmaceuticals, Inc.* | | | | | 88,402 | | | | | | 242,221 | | |
Cross Country Healthcare, Inc.* | | | | | 35,319 | | | | | | 732,163 | | |
Eagle Pharmaceuticals, Inc.* | | | | | 10,569 | | | | | | 553,498 | | |
Enanta Pharmaceuticals, Inc.* | | | | | 8,945 | | | | | | 767,928 | | |
Harpoon Therapeutics, Inc.* | | | | | 21,087 | | | | | | 132,005 | | |
Heat Biologics, Inc.*(a) | | | | | 60,595 | | | | | | 323,577 | | |
ICU Medical, Inc.* | | | | | 2,148 | | | | | | 502,911 | | |
Inogen, Inc.* | | | | | 8,399 | | | | | | 333,020 | | |
Integer Holdings Corp.* | | | | | 4,789 | | | | | | 431,106 | | |
Invacare Corp.*(a) | | | | | 55,004 | | | | | | 271,720 | | |
Kezar Life Sciences, Inc.* | | | | | 74,014 | | | | | | 592,112 | | |
Liquidia Corp.*(a) | | | | | 163,989 | | | | | | 614,959 | | |
MeiraGTx Holdings PLC* | | | | | 30,570 | | | | | | 657,255 | | |
Meridian Bioscience, Inc.* | | | | | 16,804 | | | | | | 316,083 | | |
Molecular Templates, Inc.* | | | | | 34,955 | | | | | | 182,465 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Health Care (continued) | |
Myriad Genetics, Inc.* | | | | | 14,487 | | | | | $ | 445,765 | | |
| National HealthCare Corp. | | | | | 5,661 | | | | | | 395,930 | | |
Natus Medical, Inc.* | | | | | 17,225 | | | | | | 431,486 | | |
NextCure, Inc.* | | | | | 44,068 | | | | | | 362,239 | | |
NextGen Healthcare, Inc.* | | | | | 24,371 | | | | | | 401,147 | | |
Omeros Corp.*(a) | | | | | 24,783 | | | | | | 155,389 | | |
Organogenesis Holdings, Inc.*(a) | | | | | 24,210 | | | | | | 265,826 | | |
Orthofix Medical, Inc.* | | | | | 10,176 | | | | | | 366,132 | | |
Outlook Therapeutics, Inc.*(a) | | | | | 196,057 | | | | | | 405,838 | | |
| Owens & Minor, Inc. | | | | | 11,735 | | | | | | 421,052 | | |
Pennant Group, Inc. (The)* | | | | | 9,631 | | | | | | 246,265 | | |
Personalis, Inc.* | | | ��� | | 17,924 | | | | | | 351,669 | | |
| Premier, Inc., Class A | | | | | 13,033 | | | | | | 507,635 | | |
Prestige Consumer Healthcare, Inc.* | | | | | 10,007 | | | | | | 600,320 | | |
Radius Health, Inc.* | | | | | 21,146 | | | | | | 456,754 | | |
Replimune Group, Inc.* | | | | | 14,458 | | | | | | 426,656 | | |
Rocket Pharmaceuticals, Inc.*(a) | | | | | 9,943 | | | | | | 295,407 | | |
Scholar Rock Holding Corp.*(a) | | | | | 8,709 | | | | | | 229,047 | | |
SeaSpine Holdings Corp.* | | | | | 25,351 | | | | | | 379,251 | | |
| Select Medical Holdings Corp. | | | | | 12,938 | | | | | | 429,800 | | |
Selecta Biosciences, Inc.* | | | | | 97,487 | | | | | | 349,978 | | |
Shockwave Medical, Inc.* | | | | | 3,388 | | | | | | 724,016 | | |
SIGA Technologies, Inc.* | | | | | 67,866 | | | | | | 489,314 | | |
SmileDirectClub, Inc.*(a) | | | | | 42,785 | | | | | | 220,343 | | |
Spero Therapeutics, Inc.*(a) | | | | | 29,968 | | | | | | 526,238 | | |
Tactile Systems Technology, Inc.* | | | | | 8,097 | | | | | | 279,266 | | |
TCR2 Therapeutics, Inc.* | | | | | 19,980 | | | | | | 125,874 | | |
TFF Pharmaceuticals, Inc.* | | | | | 32,506 | | | | | | 250,621 | | |
Triple-S Management Corp.* | | | | | 16,946 | | | | | | 598,024 | | |
Vanda Pharmaceuticals, Inc.* | | | | | 29,370 | | | | | | 502,814 | | |
Varex Imaging Corp.* | | | | | 21,528 | | | | | | 578,027 | | |
Verastem, Inc.* | | | | | 178,595 | | | | | | 464,347 | | |
Vericel Corp.*(a) | | | | | 7,941 | | | | | | 365,445 | | |
Voyager Therapeutics, Inc.* | | | | | 93,659 | | | | | | 339,046 | | |
| Total Health Care | | | | | | | | | | | 28,799,530 | | |
| Industrials — 18.1% | |
| ABM Industries, Inc. | | | | | 8,647 | | | | | | 380,554 | | |
Acacia Research Corp.* | | | | | 66,334 | | | | | | 380,094 | | |
| Advanced Drainage Systems, Inc. | | | | | 4,268 | | | | | | 481,430 | | |
| Alamo Group, Inc. | | | | | 2,824 | | | | | | 426,989 | | |
| Apogee Enterprises, Inc. | | | | | 10,791 | | | | | | 452,467 | | |
| Applied Industrial Technologies, Inc. | | | | | 4,839 | | | | | | 471,706 | | |
| ArcBest Corp. | | | | | 6,268 | | | | | | 563,180 | | |
| Argan, Inc. | | | | | 8,268 | | | | | | 341,138 | | |
ASGN, Inc.* | | | | | 4,623 | | | | | | 553,188 | | |
| Astec Industries, Inc. | | | | | 5,850 | | | | | | 312,273 | | |
Blue Bird Corp.* | | | | | 17,625 | | | | | | 345,626 | | |
| Boise Cascade Co. | | | | | 7,633 | | | | | | 432,180 | | |
BrightView Holdings, Inc.* | | | | | 26,149 | | | | | | 414,723 | | |
CBIZ, Inc.* | | | | | 13,507 | �� | | | | | 495,842 | | |
Clean Harbors, Inc.* | | | | | 5,249 | | | | | | 590,722 | | |
| Comfort Systems USA, Inc. | | | | | 5,899 | | | | | | 539,582 | | |
CoreCivic, Inc.* | | | | | 48,742 | | | | | | 419,669 | | |
| CRA International, Inc. | | | | | 5,909 | | | | | | 648,926 | | |
| Crane Co. | | | | | 4,697 | | | | | | 485,106 | | |
| Curtiss-Wright Corp. | | | | | 3,720 | | | | | | 474,970 | | |
Custom Truck One Source, Inc.*(a) | | | | | 47,179 | | | | | | 426,970 | | |
See notes to financial statements.
Schedule of Investments — IQ Chaikin U.S. Small Cap ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Industrials (continued) | |
Ducommun, Inc.* | | | | | 7,353 | | | | | $ | 355,812 | | |
Eagle Bulk Shipping, Inc.*(a) | | | | | 12,212 | | | | | | 525,727 | | |
Echo Global Logistics, Inc.* | | | | | 14,045 | | | | | | 677,390 | | |
| EMCOR Group, Inc. | | | | | 3,932 | | | | | | 477,699 | | |
| Encore Wire Corp. | | | | | 6,571 | | | | | | 880,908 | | |
| Ennis, Inc. | | | | | 20,661 | | | | | | 391,319 | | |
| Federal Signal Corp. | | | | | 11,518 | | | | | | 493,086 | | |
| Franklin Electric Co., Inc. | | | | | 5,589 | | | | | | 482,778 | | |
| Genco Shipping & Trading Ltd. | | | | | 43,764 | | | | | | 751,428 | | |
Gibraltar Industries, Inc.* | | | | | 4,820 | | | | | | 314,071 | | |
| GrafTech International Ltd. | | | | | 36,070 | | | | | | 385,949 | | |
Greenbrier Cos., Inc. (The)(a) | | | | | 9,343 | | | | | | 383,250 | | |
| Heidrick & Struggles International, Inc. | | | | | 12,349 | | | | | | 578,921 | | |
| Helios Technologies, Inc. | | | | | 6,053 | | | | | | 551,126 | | |
Heritage-Crystal Clean, Inc.* | | | | | 16,261 | | | | | | 563,769 | | |
| Hillenbrand, Inc. | | | | | 9,245 | | | | | | 420,278 | | |
| HNI Corp. | | | | | 11,151 | | | | | | 417,047 | | |
Hub Group, Inc., Class A* | | | | | 6,556 | | | | | | 515,105 | | |
Huron Consulting Group, Inc.* | | | | | 8,755 | | | | | | 439,151 | | |
| ICF International, Inc. | | | | | 5,046 | | | | | | 507,073 | | |
IES Holdings, Inc.* | | | | | 8,750 | | | | | | 436,188 | | |
| Insperity, Inc. | | | | | 5,266 | | | | | | 658,250 | | |
| Insteel Industries, Inc. | | | | | 14,302 | | | | | | 581,662 | | |
| Kelly Services, Inc., Class A | | | | | 19,808 | | | | | | 357,138 | | |
| Kforce, Inc. | | | | | 8,231 | | | | | | 533,040 | | |
| Korn Ferry | | | | | 7,073 | | | | | | 546,106 | | |
| ManTech International Corp., Class A | | | | | 5,073 | | | | | | 437,394 | | |
| Marten Transport Ltd. | | | | | 26,851 | | | | | | 446,532 | | |
MasTec, Inc.* | | | | | 4,708 | | | | | | 419,624 | | |
| Matson, Inc. | | | | | 6,615 | | | | | | 550,897 | | |
| Matthews International Corp., Class A | | | | | 11,154 | | | | | | 383,363 | | |
Meritor, Inc.* | | | | | 14,994 | | | | | | 364,954 | | |
| Miller Industries, Inc. | | | | | 9,551 | | | | | | 345,173 | | |
| Moog, Inc., Class A | | | | | 5,305 | | | | | | 400,687 | | |
MRC Global, Inc.* | | | | | 48,850 | | | | | | 405,455 | | |
| Mueller Industries, Inc. | | | | | 10,669 | | | | | | 561,616 | | |
MYR Group, Inc.* | | | | | 6,154 | | | | | | 628,631 | | |
| National Presto Industries, Inc. | | | | | 4,322 | | | | | | 359,374 | | |
Northwest Pipe Co.* | | | | | 13,198 | | | | | | 313,585 | | |
PGT Innovations, Inc.* | | | | | 17,471 | | | | | | 373,006 | | |
| Powell Industries, Inc. | | | | | 13,025 | | | | | | 336,827 | | |
| Primoris Services Corp. | | | | | 13,314 | | | | | | 358,812 | | |
Radiant Logistics, Inc.* | | | | | 63,470 | | | | | | 427,153 | | |
| Regal Rexnord Corp. | | | | | 3,242 | | | | | | 493,854 | | |
| Rush Enterprises, Inc., Class A | | | | | 8,854 | | | | | | 461,116 | | |
| Ryder System, Inc. | | | | | 5,831 | | | | | | 495,343 | | |
Saia, Inc.* | | | | | 1,914 | | | | | | 598,393 | | |
| Schneider National, Inc., Class B | | | | | 17,665 | | | | | | 440,565 | | |
| Shyft Group, Inc. (The) | | | | | 11,858 | | | | | | 488,668 | | |
SPX Corp.* | | | | | 7,571 | | | | | | 439,799 | | |
| SPX FLOW, Inc. | | | | | 6,966 | | | | | | 520,430 | | |
| Standex International Corp. | | | | | 4,617 | | | | | | 513,734 | | |
Sterling Construction Co., Inc.* | | | | | 19,013 | | | | | | 457,073 | | |
| Tennant Co. | | | | | 5,520 | | | | | | 438,619 | | |
Thermon Group Holdings, Inc.* | | | | | 22,633 | | | | | | 391,098 | | |
| Timken Co. (The) | | | | | 5,434 | | | | | | 385,542 | | |
Titan Machinery, Inc.* | | | | | 17,298 | | | | | | 491,609 | | |
Transcat, Inc.* | | | | | 8,987 | | | | | | 672,947 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Industrials (continued) | |
| Triton International Ltd. | | | | | 8,021 | | | | | $ | 498,826 | | |
TrueBlue, Inc.* | | | | | 20,032 | | | | | | 557,891 | | |
| UFP Industries, Inc. | | | | | 5,816 | | | | | | 475,923 | | |
| Universal Logistics Holdings, Inc. | | | | | 16,768 | | | | | | 353,469 | | |
Upwork, Inc.* | | | | | 9,852 | | | | | | 464,226 | | |
| VSE Corp. | | | | | 11,168 | | | | | | 620,382 | | |
| Werner Enterprises, Inc. | | | | | 9,350 | | | | | | 423,742 | | |
| Total Industrials | | | | | | | | | | | 40,657,938 | | |
| Information Technology — 12.5% | |
A10 Networks, Inc.* | | | | | 45,902 | | | | | | 857,908 | | |
ACI Worldwide, Inc.* | | | | | 11,592 | | | | | | 355,643 | | |
| ADTRAN, Inc. | | | | | 26,445 | | | | | | 488,704 | | |
| Amkor Technology, Inc. | | | | | 18,606 | | | | | | 407,844 | | |
| Belden, Inc. | | | | | 9,943 | | | | | | 598,668 | | |
| Benchmark Electronics, Inc. | | | | | 14,267 | | | | | | 332,564 | | |
Blackbaud, Inc.* | | | | | 6,206 | | | | | | 440,688 | | |
Brightcove, Inc.* | | | | | 21,925 | | | | | | 217,496 | | |
Cambium Networks Corp.* | | | | | 9,443 | | | | | | 266,481 | | |
| Cass Information Systems, Inc. | | | | | 9,534 | | | | | | 390,799 | | |
ChannelAdvisor Corp.* | | | | | 18,732 | | | | | | 477,853 | | |
CommScope Holding Co., Inc.* | | | | | 28,719 | | | | | | 307,580 | | |
CommVault Systems, Inc.* | | | | | 6,840 | | | | | | 420,660 | | |
Consensus Cloud Solutions, Inc.* | | | | | 1,227 | | | | | | 77,706 | | |
| CSG Systems International, Inc. | | | | | 9,828 | | | | | | 491,891 | | |
| CTS Corp. | | | | | 14,201 | | | | | | 505,840 | | |
CyberOptics Corp.* | | | | | 16,987 | | | | | | 709,377 | | |
Daktronics, Inc.* | | | | | 70,356 | | | | | | 390,476 | | |
Digi International, Inc.* | | | | | 23,228 | | | | | | 500,563 | | |
eGain Corp.* | | | | | 46,485 | | | | | | 479,725 | | |
ePlus, Inc.* | | | | | 4,426 | | | | | | 489,383 | | |
ExlService Holdings, Inc.* | | | | | 4,891 | | | | | | 599,783 | | |
FARO Technologies, Inc.* | | | | | 5,096 | | | | | | 374,913 | | |
FormFactor, Inc.* | | | | | 9,779 | | | | | | 389,009 | | |
GTY Technology Holdings, Inc.* | | | | | 69,032 | | | | | | 524,643 | | |
| Hackett Group, Inc. (The) | | | | | 26,915 | | | | | | 568,983 | | |
Insight Enterprises, Inc.* | | | | | 4,624 | | | | | | 437,893 | | |
Intelligent Systems Corp.*(a) | | | | | 10,783 | | | | | | 456,444 | | |
| InterDigital, Inc. | | | | | 6,953 | | | | | | 465,503 | | |
Iteris, Inc.* | | | | | 71,497 | | | | | | 383,224 | | |
Kimball Electronics, Inc.* | | | | | 17,098 | | | | | | 491,567 | | |
Knowles Corp.* | | | | | 21,087 | | | | | | 439,453 | | |
Mitek Systems, Inc.*(a) | | | | | 30,257 | | | | | | 569,739 | | |
NeoPhotonics Corp.* | | | | | 36,915 | | | | | | 373,580 | | |
NETGEAR, Inc.* | | | | | 10,732 | | | | | | 309,404 | | |
NetScout Systems, Inc.* | | | | | 15,664 | | | | | | 423,868 | | |
Onto Innovation, Inc.* | | | | | 6,714 | | | | | | 531,816 | | |
OSI Systems, Inc.* | | | | | 4,591 | | | | | | 427,468 | | |
Perficient, Inc.* | | | | | 7,511 | | | | | | 928,360 | | |
Photronics, Inc.* | | | | | 34,302 | | | | | | 445,583 | | |
Plexus Corp.* | | | | | 4,803 | | | | | | 419,398 | | |
| Progress Software Corp. | | | | | 10,012 | | | | | | 514,717 | | |
Rambus, Inc.* | | | | | 22,692 | | | | | | 528,043 | | |
Ribbon Communications, Inc.* | | | | | 53,730 | | | | | | 293,903 | | |
Rimini Street, Inc.* | | | | | 49,178 | | | | | | 511,943 | | |
Sanmina Corp.* | | | | | 10,661 | | | | | | 402,453 | | |
ScanSource, Inc.* | | | | | 14,729 | | | | | | 527,004 | | |
SMART Global Holdings, Inc.* | | | | | 9,587 | | | | | | 512,521 | | |
See notes to financial statements.
Schedule of Investments — IQ Chaikin U.S. Small Cap ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Information Technology (continued) | |
Smith Micro Software, Inc.* | | | | | 80,132 | | | | | $ | 456,752 | | |
SPS Commerce, Inc.* | | | | | 4,442 | | | | | | 678,427 | | |
Synaptics, Inc.* | | | | | 3,258 | | | | | | 633,909 | | |
Teradata Corp.* | | | | | 11,447 | | | | | | 647,442 | | |
| TTEC Holdings, Inc. | | | | | 4,393 | | | | | | 414,655 | | |
TTM Technologies, Inc.* | | | | | 30,422 | | | | | | 402,787 | | |
Unisys Corp.* | | | | | 17,354 | | | | | | 443,742 | | |
Veeco Instruments, Inc.*(a) | | | | | 21,269 | | | | | | 516,624 | | |
VirnetX Holding Corp.*(a) | | | | | 79,196 | | | | | | 304,905 | | |
| Vishay Intertechnology, Inc. | | | | | 18,319 | | | | | | 352,091 | | |
Vishay Precision Group, Inc.* | | | | | 14,317 | | | | | | 488,067 | | |
| Xerox Holdings Corp. | | | | | 18,175 | | | | | | 323,515 | | |
| Xperi Holding Corp. | | | | | 20,262 | | | | | | 363,095 | | |
| Total Information Technology | | | | | | | | | | | 28,085,075 | | |
| Materials — 4.5% | |
| American Vanguard Corp. | | | | | 21,612 | | | | | | 336,715 | | |
| Avient Corp. | | | | | 9,333 | | | | | | 502,862 | | |
Clearwater Paper Corp.* | | | | | 11,725 | | | | | | 490,457 | | |
| Commercial Metals Co. | | | | | 14,302 | | | | | | 460,238 | | |
| Eagle Materials, Inc. | | | | | 3,280 | | | | | | 486,621 | | |
| Ecovyst, Inc. | | | | | 32,599 | | | | | | 380,756 | | |
| Element Solutions, Inc. | | | | | 24,118 | | | | | | 547,720 | | |
| Greif, Inc., Class A | | | | | 7,738 | | | | | | 500,494 | | |
| Hawkins, Inc. | | | | | 13,161 | | | | | | 482,614 | | |
| HB Fuller Co. | | | | | 7,011 | | | | | | 494,346 | | |
| Kaiser Aluminum Corp. | | | | | 3,993 | | | | | | 387,880 | | |
| Louisiana-Pacific Corp. | | | | | 7,955 | | | | | | 468,788 | | |
Marrone Bio Innovations, Inc.* | | | | | 211,064 | | | | | | 184,913 | | |
| Materion Corp. | | | | | 6,659 | | | | | | 480,647 | | |
| Minerals Technologies, Inc. | | | | | 5,858 | | | | | | 415,566 | | |
| Schnitzer Steel Industries, Inc., Class A | | | | | 10,557 | | | | | | 567,967 | | |
| Stepan Co. | | | | | 3,471 | | | | | | 416,589 | | |
| Tredegar Corp. | | | | | 29,390 | | | | | | 354,443 | | |
TriMas Corp.* | | | | | 14,548 | | | | | | 485,176 | | |
UFP Technologies, Inc.* | | | | | 8,853 | | | | | | 547,912 | | |
| United States Lime & Minerals, Inc. | | | | | 3,298 | | | | | | 407,237 | | |
| Verso Corp., Class A | | | | | 30,235 | | | | | | 667,589 | | |
| Total Materials | | | | | | | | | | | 10,067,530 | | |
| Real Estate — 2.5% | |
| Alexander & Baldwin, Inc. | | | | | 26,274 | | | | | | 644,501 | | |
| American Finance Trust, Inc. | | | | | 44,921 | | | | | | 371,946 | | |
| CTO Realty Growth, Inc. | | | | | 8,480 | | | | | | 454,613 | | |
Forestar Group, Inc.* | | | | | 18,949 | | | | | | 370,832 | | |
| Industrial Logistics Properties Trust | | | | | 19,072 | | | | | | 535,733 | | |
| Kennedy-Wilson Holdings, Inc. | | | | | 21,828 | | | | | | 488,292 | | |
Marcus & Millichap, Inc.* | | | | | 13,089 | | | | | | 616,492 | | |
| Piedmont Office Realty Trust, Inc., Class A | | | | | 25,396 | | | | | | 451,033 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Real Estate (continued) | |
| Plymouth Industrial REIT, Inc. | | | | | 26,181 | | | | | $ | 669,186 | | |
| PS Business Parks, Inc. | | | | | 2,854 | | | | | | 507,156 | | |
| RMR Group, Inc. (The), Class A | | | | | 12,757 | | | | | | 443,816 | | |
| Total Real Estate | | | | | | | | | | | 5,553,600 | | |
| Utilities — 2.1% | |
| ALLETE, Inc. | | | | | 6,565 | | | | | | 404,010 | | |
| Black Hills Corp. | | | | | 6,608 | | | | | | 438,639 | | |
| California Water Service Group | | | | | 7,830 | | | | | | 476,690 | | |
| Consolidated Water Co., Ltd. | | | | | 32,797 | | | | | | 364,375 | | |
| Middlesex Water Co. | | | | | 5,583 | | | | | | 614,800 | | |
| Otter Tail Corp. | | | | | 9,555 | | | | | | 592,505 | | |
| SJW Group | | | | | 7,002 | | | | | | 461,572 | | |
South Jersey Industries, Inc.(a) | | | | | 19,535 | | | | | | 444,617 | | |
| Southwest Gas Holdings, Inc. | | | | | 6,420 | | | | | | 444,585 | | |
| Unitil Corp. | | | | | 9,655 | | | | | | 403,096 | | |
| Total Utilities | | | | | | | | | | | 4,644,889 | | |
Total Common Stocks
(Cost $200,312,525) | | | | | | | | | | | 224,463,382 | | |
| Short-Term Investments — 1.4% | | | |
| Money Market Funds — 1.4% | | | |
Dreyfus Government Cash Management Fund, Institutional Shares, 0.03%(b)(c) | | | | | 2,755,533 | | | | | | 2,755,533 | | |
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 0.01%(b) | | | | | 345,681 | | | | | | 345,681 | | |
Total Short-Term Investments
(Cost $3,101,214) | | | | | | | | | | | 3,101,214 | | |
Total Investments — 101.3%
(Cost $203,413,739) | | | | | | | | | | | 227,564,596 | | |
Other Assets and Liabilities,
Net — (1.3)% | | | | | | | | | | | (2,765,484) | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 224,799,112 | | |
| |
*
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 $9,481,955; total market value of collateral held by the Fund was $9,749,900. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $6,994,367.
(b)
Reflects the 1-day yield at October 31, 2021.
(c)
Represents security purchased with cash collateral received for securities on loan.
See notes to financial statements.
Schedule of Investments — IQ Chaikin U.S. Small Cap ETF (continued)
October 31, 2021 (unaudited)
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investments in Securities:(d) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | | | $ | 224,463,382 | | | | | $ | — | | | | | $ | — | | | | | $ | 224,463,382 | | |
| Short-Term Investments: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Money Market Funds | | | | | 3,101,214 | | | | | | — | | | | | | — | | | | | | 3,101,214 | | |
| Total Investments in Securities | | | | $ | 227,564,596 | | | | | $ | — | | | | | $ | — | | | | | $ | 227,564,596 | | |
(d)
For a complete listing of investments and their industries, see the Schedule of Investments.
For the period ended October 31, 2021,the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 2)
See notes to financial statements.
Schedule of Investments — IQ 500 International ETF
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks — 98.6% | |
| Australia — 4.3% | |
| AGL Energy Ltd. | | | | | 22,560 | | | | | $ | 96,924 | | |
| Ampol Ltd. | | | | | 11,058 | | | | | | 253,738 | | |
Australia & New Zealand Banking Group
Ltd. | | | | | 9,780 | | | | | | 206,710 | | |
| BHP Group Ltd. | | | | | 39,166 | | | | | | 1,076,096 | | |
| BlueScope Steel Ltd. | | | | | 13,129 | | | | | | 203,338 | | |
| Coles Group Ltd. | | | | | 36,298 | | | | | | 467,295 | | |
| Commonwealth Bank of Australia | | | | | 3,467 | | | | | | 272,594 | | |
| CSL Ltd. | | | | | 1,265 | | | | | | 285,508 | | |
| Downer EDI Ltd. | | | | | 60,267 | | | | | | 285,179 | | |
| Endeavour Group Ltd. | | | | | 24,573 | | | | | | 125,506 | | |
| Fortescue Metals Group Ltd. | | | | | 24,501 | | | | | | 256,350 | | |
Glencore PLC* | | | | | 498,410 | | | | | | 2,495,370 | | |
Metcash Ltd.(a) | | | | | 78,578 | | | | | | 240,211 | | |
| National Australia Bank Ltd. | | | | | 9,682 | | | | | | 208,784 | | |
| Origin Energy Ltd. | | | | | 52,019 | | | | | | 197,311 | | |
| Ramsay Health Care Ltd. | | | | | 6,506 | | | | | | 344,119 | | |
| Rio Tinto PLC | | | | | 15,683 | | | | | | 980,392 | | |
| Sonic Healthcare Ltd. | | | | | 10,083 | | | | | | 303,161 | | |
| Telstra Corp., Ltd. | | | | | 117,001 | | | | | | 335,700 | | |
| Viva Energy Group Ltd. | | | | | 148,446 | | | | | | 258,675 | | |
| Wesfarmers Ltd. | | | | | 10,535 | | | | | | 453,010 | | |
| Westpac Banking Corp. | | | | | 11,820 | | | | | | 227,898 | | |
| Woolworths Group Ltd. | | | | | 24,761 | | | | | | 708,212 | | |
| Worley Ltd. | | | | | 28,182 | | | | | | 229,032 | | |
| Total Australia | | | | | | | | | | | 10,511,113 | | |
| Austria — 0.4% | |
| Mondi PLC | | | | | 8,003 | | | | | | 200,205 | | |
| OMV AG | | | | | 7,089 | | | | | | 429,876 | | |
| voestalpine AG | | | | | 6,706 | | | | | | 254,855 | | |
| Total Austria | | | | | | | | | | | 884,936 | | |
| Belgium — 0.8% | |
| Anheuser-Busch InBev SA | | | | | 18,314 | | | | | | 1,118,400 | | |
| Etablissements Franz Colruyt NV | | | | | 3,415 | | | | | | 167,723 | | |
| Solvay SA | | | | | 2,171 | | | | | | 258,274 | | |
| Umicore SA | | | | | 9,061 | | | | | | 519,888 | | |
| Total Belgium | | | | | | | | | | | 2,064,285 | | |
| Canada — 6.1% | |
Alimentation Couche-Tard, Inc.,
Class B | | | | | 23,709 | | | | | | 887,880 | | |
Bank of Montreal(a) | | | | | 2,595 | | | | | | 281,304 | | |
| Bank of Nova Scotia (The) | | | | | 4,371 | | | | | | 286,122 | | |
| BCE, Inc. | | | | | 8,783 | | | | | | 451,426 | | |
Brookfield Asset Management Reinsurance Partners Ltd., Class A* | | | | | 76 | | | | | | 4,675 | | |
| Brookfield Asset Management, Inc., Class A | | | | | 11,123 | | | | | | 670,494 | | |
Canadian Imperial Bank of
Commerce | | | | | 1,897 | | | | | | 229,819 | | |
| Canadian National Railway Co. | | | | | 2,583 | | | | | | 342,747 | | |
| Canadian Natural Resources Ltd. | | | | | 8,414 | | | | | | 357,046 | | |
| Canadian Pacific Railway Ltd. | | | | | 2,634 | | | | | | 203,550 | | |
| Canadian Tire Corp., Ltd., Class A | | | | | 1,523 | | | | | | 215,976 | | |
| Cenovus Energy, Inc. | | | | | 25,930 | | | | | | 309,599 | | |
CGI, Inc.* | | | | | 3,528 | | | | | | 314,675 | | |
| | | | Shares | | | Value | | | |
| Common Stocks (continued) | | | |
| Canada (continued) | | | |
| Empire Co., Ltd., Class A | | | | | 11,178 | | | | | $ | 333,658 | | | | |
| Enbridge, Inc. | | | | | 23,067 | | | | | | 964,700 | | | | |
| George Weston Ltd. | | | | | 8,067 | | | | | | 870,251 | | | | |
| Great-West Lifeco, Inc. | | | | | 12,983 | | | | | | 381,357 | | | | |
Imperial Oil Ltd.(a) | | | | | 11,550 | | | | | | 390,420 | | | | |
| Loblaw Cos., Ltd. | | | | | 11,972 | | | | | | 898,999 | | | | |
| Magna International, Inc. | | | | | 5,870 | | | | | | 476,732 | | | | |
| Manulife Financial Corp. | | | | | 21,301 | | | | | | 414,317 | | | | |
| Metro, Inc. | | | | | 5,460 | | | | | | 274,288 | | | | |
| Nutrien Ltd. | | | | | 8,522 | | | | | | 594,694 | | | | |
| Parkland Corp. | | | | | 8,117 | | | | | | 235,806 | | | | |
| Power Corp. of Canada | | | | | 13,782 | | | | | | 458,307 | | | | |
| Restaurant Brands International, Inc. | | | | | 3,263 | | | | | | 184,453 | | | | |
| Rogers Communications, Inc., Class B | | | | | 5,367 | | | | | | 249,223 | | | | |
| Royal Bank of Canada | | | | | 4,027 | | | | | | 418,505 | | | | |
| Saputo, Inc. | | | | | 7,392 | | | | | | 176,280 | | | | |
| Shaw Communications, Inc., Class B | | | | | 7,172 | | | | | | 206,212 | | | | |
| SNC-Lavalin Group, Inc. | | | | | 8,493 | | | | | | 228,092 | | | | |
| Sun Life Financial, Inc. | | | | | 4,761 | | | | | | 270,899 | | | | |
| Suncor Energy, Inc. | | | | | 16,207 | | | | | | 425,588 | | | | |
| TC Energy Corp. | | | | | 6,269 | | | | | | 338,598 | | | | |
| Teck Resources Ltd., Class B | | | | | 9,444 | | | | | | 263,157 | | | | |
| TELUS Corp. | | | | | 13,273 | | | | | | 303,998 | | | | |
| Thomson Reuters Corp. | | | | | 2,571 | | | | | | 308,777 | | | | |
| Toronto-Dominion Bank (The) | | | | | 5,060 | | | | | | 366,738 | | | | |
| WSP Global, Inc. | | | | | 2,134 | | | | | | 288,849 | | | | |
| Total Canada | | | | | | | | | | | 14,878,211 | | | | |
| Denmark — 1.0% | | | |
| Carlsberg A/S, Class B | | | | | 1,293 | | | | | | 213,510 | | | | |
| Danske Bank A/S | | | | | 10,838 | | | | | | 183,602 | | | | |
| DSV A/S | | | | | 2,410 | | | | | | 560,666 | | | | |
ISS A/S* | | | | | 17,944 | | | | | | 357,577 | | | | |
| Novo Nordisk A/S, Class B | | | | | 7,166 | | | | | | 785,118 | | | | |
| Vestas Wind Systems A/S | | | | | 7,622 | | | | | | 329,976 | | | | |
| Total Denmark | | | | | | | | | | | 2,430,449 | | | | |
| Finland — 1.3% | | | | | | | |
| Fortum OYJ | | | | | 39,535 | | | | | | 1,175,823 | | | | |
Kesko OYJ, Class B(a) | | | | | 7,100 | | | | | | 230,801 | | | | |
| Kone OYJ, Class B | | | | | 2,679 | | | | | | 182,792 | | | | |
| Neste OYJ | | | | | 4,742 | | | | | | 264,451 | | | | |
Nokia OYJ* | | | | | 134,968 | | | | | | 776,272 | | | | |
| Stora Enso OYJ, Class R | | | | | 12,422 | | | | | | 206,717 | | | | |
| UPM-Kymmene OYJ | | | | | 6,635 | | | | | | 234,343 | | | | |
| Total Finland | | | | | | | | | | | 3,071,199 | | | | |
| France — 12.6% | | | | | | | |
Air France-KLM*(a) | | | | | 51,654 | | | | | | 243,291 | | | | |
| Air Liquide SA | | | | | 3,725 | | | | | | 621,783 | | | | |
Airbus SE* | | | | | 9,784 | | | | | | 1,252,272 | | | | |
| Arkema SA | | | | | 1,883 | | | | | | 257,570 | | | | |
| Atos SE | | | | | 4,731 | | | | | | 246,263 | | | | |
| AXA SA | | | | | 33,313 | | | | | | 969,954 | | | | |
| BNP Paribas SA | | | | | 12,260 | | | | | | 821,478 | | | | |
| Bollore SA | | | | | 176,371 | | | | | | 1,022,567 | | | | |
| Bouygues SA | | | | | 23,026 | | | | | | 932,639 | | | | |
| Bureau Veritas SA | | | | | 7,166 | | | | | | 227,722 | | | | |
See notes to financial statements.
Schedule of Investments — IQ 500 International ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| France (continued) | |
| Capgemini SE | | | | | 2,874 | | | | | $ | 669,511 | | |
| Carrefour SA | | | | | 72,629 | | | | | | 1,315,801 | | |
Casino Guichard Perrachon SA*(a) | | | | | 17,005 | | | | | | 423,689 | | |
| Cie de Saint-Gobain | | | | | 12,004 | | | | | | 827,385 | | |
| Cie Generale des Etablissements Michelin | | | | | 2,201 | | | | | | 345,642 | | |
| CNP Assurances | | | | | 15,713 | | | | | | 393,862 | | |
| Credit Agricole SA | | | | | 25,080 | | | | | | 378,471 | | |
| Danone SA | | | | | 7,591 | | | | | | 495,017 | | |
| Dassault Systemes SE | | | | | 4,540 | | | | | | 264,692 | | |
| Eiffage SA | | | | | 5,214 | | | | | | 536,776 | | |
| Electricite de France SA | | | | | 100,460 | | | | | | 1,479,955 | | |
Elior Group SA* | | | | | 25,422 | | | | | | 200,642 | | |
| Engie SA | | | | | 72,699 | | | | | | 1,034,473 | | |
| EssilorLuxottica SA | | | | | 2,220 | | | | | | 459,611 | | |
| Faurecia SE | | | | | 5,368 | | | | | | 279,856 | | |
| Kering SA | | | | | 469 | | | | | | 351,810 | | |
| Korian SA | | | | | 6,674 | | | | | | 222,436 | | |
| Legrand SA | | | | | 2,307 | | | | | | 251,600 | | |
| L’Oreal SA | | | | | 1,754 | | | | | | 801,676 | | |
| LVMH Moet Hennessy Louis Vuitton SE | | | | | 1,798 | | | | | | 1,409,073 | | |
| Orange SA | | | | | 83,686 | | | | | | 913,738 | | |
| Orpea | | | | | 1,968 | | | | | | 205,427 | | |
| Pernod Ricard SA | | | | | 1,112 | | | | | | 255,699 | | |
| Publicis Groupe SA | | | | | 6,387 | | | | | | 428,255 | | |
Renault SA* | | | | | 13,469 | | | | | | 484,132 | | |
Rexel SA* | | | | | 16,352 | | | | | | 324,725 | | |
| Safran SA | | | | | 3,358 | | | | | | 450,936 | | |
| Sanofi | | | | | 9,154 | | | | | | 915,593 | | |
| SCOR SE | | | | | 4,982 | | | | | | 167,774 | | |
| Societe Generale SA | | | | | 12,900 | | | | | | 430,464 | | |
Sodexo SA* | | | | | 5,334 | | | | | | 518,512 | | |
| SPIE SA | | | | | 9,540 | | | | | | 231,843 | | |
| Suez SA | | | | | 17,169 | | | | | | 391,118 | | |
| Teleperformance | | | | | 640 | | | | | | 267,445 | | |
| Thales SA | | | | | 4,681 | | | | | | 431,525 | | |
| TotalEnergies SE | | | | | 51,281 | | | | | | 2,573,788 | | |
| Valeo | | | | | 8,876 | | | | | | 260,183 | | |
| Veolia Environnement SA | | | | | 24,841 | | | | | | 811,534 | | |
| Vinci SA | | | | | 16,093 | | | | | | 1,720,263 | | |
| Vivendi SE | | | | | 17,626 | | | | | | 227,128 | | |
| Total France | | | | | | | | | | | 30,747,599 | | |
| Germany — 11.7% | |
| adidas AG | | | | | 1,369 | | | | | | 448,825 | | |
| Allianz SE | | | | | 4,149 | | | | | | 965,807 | | |
| Aurubis AG | | | | | 3,621 | | | | | | 312,771 | | |
| BASF SE | | | | | 22,497 | | | | | | 1,621,437 | | |
| Bayer AG | | | | | 14,881 | | | | | | 838,147 | | |
| Bayerische Motoren Werke AG | | | | | 15,519 | | | | | | 1,566,774 | | |
| Bechtle AG | | | | | 3,447 | | | | | | 258,490 | | |
| Beiersdorf AG | | | | | 1,757 | | | | | | 186,859 | | |
| Brenntag SE | | | | | 3,600 | | | | | | 342,620 | | |
Continental AG* | | | | | 5,015 | | | | | | 589,182 | | |
| Covestro AG | | | | | 4,526 | | | | | | 290,169 | | |
| Daimler AG | | | | | 21,652 | | | | | | 2,148,367 | | |
Deutsche Bank AG* | | | | | 23,054 | | | | | | 297,367 | | |
Deutsche Lufthansa AG* | | | | | 56,133 | | | | | | 371,051 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Germany (continued) | |
| Deutsche Post AG | | | | | 42,465 | | | | | $ | 2,630,112 | | |
| Deutsche Telekom AG | | | | | 110,833 | | | | | | 2,062,187 | | |
| E.ON SE | | | | | 110,585 | | | | | | 1,403,367 | | |
| Evonik Industries AG | | | | | 9,535 | | | | | | 309,183 | | |
Fresenius Medical Care AG & Co.
KGaA | | | | | 10,318 | | | | | | 686,101 | | |
| Fresenius SE & Co. KGaA | | | | | 19,763 | | | | | | 898,019 | | |
| Hannover Rueck SE | | | | | 1,303 | | | | | | 238,248 | | |
| HeidelbergCement AG | | | | | 4,821 | | | | | | 363,422 | | |
| HOCHTIEF AG | | | | | 6,890 | | | | | | 531,829 | | |
| Infineon Technologies AG | | | | | 7,079 | | | | | | 330,923 | | |
| KION Group AG | | | | | 1,929 | | | | | | 210,732 | | |
| LANXESS AG | | | | | 2,501 | | | | | | 168,621 | | |
| Merck KGaA | | | | | 2,589 | | | | | | 611,807 | | |
| METRO AG | | | | | 49,180 | | | | | | 622,065 | | |
Muenchener Rueckversicherungs-
Gesellschaft AG | | | | | 1,847 | | | | | | 547,612 | | |
| ProSiebenSat.1 Media SE | | | | | 9,698 | | | | | | 162,565 | | |
| Rheinmetall AG | | | | | 1,952 | | | | | | 189,390 | | |
| RWE AG | | | | | 7,378 | | | | | | 284,065 | | |
Salzgitter AG* | | | | | 6,581 | | | | | | 242,337 | | |
| SAP SE | | | | | 8,712 | | | | | | 1,263,471 | | |
| Siemens AG | | | | | 6,416 | | | | | | 1,041,567 | | |
| Siemens Healthineers AG | | | | | 12,358 | | | | | | 821,752 | | |
Softwareone Holding AG* | | | | | 8,294 | | | | | | 192,430 | | |
| Talanx AG | | | | | 8,566 | | | | | | 412,381 | | |
| Telefonica Deutschland Holding AG | | | | | 67,716 | | | | | | 176,555 | | |
thyssenkrupp AG* | | | | | 46,481 | | | | | | 483,681 | | |
TUI AG*(a) | | | | | 61,905 | | | | | | 208,152 | | |
| Uniper SE | | | | | 24,321 | | | | | | 1,075,438 | | |
| United Internet AG | | | | | 5,349 | | | | | | 197,341 | | |
Vitesco Technologies Group AG* | | | | | 995 | | | | | | 57,113 | | |
| Total Germany | | | | | | | | | | | 28,660,332 | | |
| Hong Kong — 0.7% | |
| AIA Group Ltd. | | | | | 28,853 | | | | | | 325,841 | | |
Cathay Pacific Airways Ltd.* | | | | | 196,129 | | | | | | 180,773 | | |
| CLP Holdings Ltd. | | | | | 23,023 | | | | | | 225,375 | | |
| Dairy Farm International Holdings Ltd. | | | | | 43,378 | | | | | | 154,859 | | |
| Nine Dragons Paper Holdings Ltd. | | | | | 148,053 | | | | | | 186,136 | | |
| WH Group Ltd. | | | | | 501,127 | | | | | | 351,734 | | |
Yue Yuen Industrial Holdings Ltd.* | | | | | 76,645 | | | | | | 163,359 | | |
| Total Hong Kong | | | | | | | | | | | 1,588,077 | | |
| Ireland — 0.5% | |
| CRH PLC | | | | | 12,722 | | | | | | 611,400 | | |
Flutter Entertainment PLC* | | | | | 1,017 | | | | | | 192,309 | | |
| Kerry Group PLC, Class A | | | | | 1,427 | | | | | | 191,727 | | |
| Smurfit Kappa Group PLC | | | | | 5,260 | | | | | | 276,509 | | |
| Total Ireland | | | | | | | | | | | 1,271,945 | | |
| Israel — 0.1% | |
Teva Pharmaceutical Industries Ltd.* | | | | | 34,096 | | | | | | 301,338 | | |
| Italy — 2.7% | |
| Assicurazioni Generali SpA | | | | | 32,489 | | | | | | 708,720 | | |
Atlantia SpA* | | | | | 12,900 | | | | | | 249,381 | | |
| Enel SpA | | | | | 182,776 | | | | | | 1,530,540 | | |
| Eni SpA | | | | | 82,473 | | | | | | 1,183,860 | | |
See notes to financial statements.
Schedule of Investments — IQ 500 International ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Italy (continued) | |
| Hera SpA | | | | | 47,173 | | | | | $ | 193,088 | | |
| Intesa Sanpaolo SpA | | | | | 140,099 | | | | | | 398,433 | | |
Leonardo SpA* | | | | | 44,700 | | | | | | 327,859 | | |
| Poste Italiane SpA | | | | | 65,837 | | | | | | 940,182 | | |
| Prysmian SpA | | | | | 6,421 | | | | | | 242,984 | | |
Saipem SpA*(a) | | | | | 86,526 | | | | | | 189,901 | | |
| Telecom Italia SpA | | | | | 728,349 | | | | | | 259,692 | | |
| UniCredit SpA | | | | | 22,165 | | | | | | 293,030 | | |
| Total Italy | | | | | | | | | | | 6,517,670 | | |
| Japan — 30.6% | |
| Aeon Co., Ltd. | | | | | 37,987 | | | | | | 872,177 | | |
| AGC, Inc. | | | | | 7,272 | | | | | | 361,607 | | |
| Air Water, Inc. | | | | | 10,411 | | | | | | 159,053 | | |
| Aisin Corp. | | | | | 12,724 | | | | | | 464,771 | | |
| Ajinomoto Co., Inc. | | | | | 9,792 | | | | | | 292,493 | | |
| Alfresa Holdings Corp. | | | | | 23,750 | | | | | | 333,260 | | |
ANA Holdings, Inc.* | | | | | 9,842 | | | | | | 228,992 | | |
| Asahi Group Holdings Ltd. | | | | | 8,321 | | | | | | 376,333 | | |
| Asahi Kasei Corp. | | | | | 37,687 | | | | | | 395,461 | | |
| Astellas Pharma, Inc. | | | | | 18,571 | | | | | | 312,218 | | |
| Benesse Holdings, Inc. | | | | | 8,244 | | | | | | 187,980 | | |
| Bridgestone Corp. | | | | | 9,372 | | | | | | 412,524 | | |
| Brother Industries Ltd. | | | | | 7,824 | | | | | | 150,819 | | |
Canon, Inc.(a) | | | | | 27,667 | | | | | | 620,673 | | |
| Central Japan Railway Co. | | | | | 1,732 | | | | | | 256,705 | | |
| Chubu Electric Power Co., Inc. | | | | | 34,796 | | | | | | 359,785 | | |
| Chugai Pharmaceutical Co., Ltd. | | | | | 5,012 | | | | | | 186,678 | | |
Chugoku Electric Power Co., Inc.
(The) | | | | | 18,301 | | | | | | 151,672 | | |
| COMSYS Holdings Corp. | | | | | 5,680 | | | | | | 140,474 | | |
| Cosmo Energy Holdings Co., Ltd. | | | | | 16,103 | | | | | | 329,474 | | |
| CyberAgent, Inc. | | | | | 11,283 | | | | | | 188,009 | | |
| Dai Nippon Printing Co., Ltd. | | | | | 16,372 | | | | | | 403,467 | | |
| Dai-ichi Life Holdings, Inc. | | | | | 25,526 | | | | | | 537,607 | | |
| Daiichi Sankyo Co., Ltd. | | | | | 7,489 | | | | | | 188,300 | | |
| Daikin Industries Ltd. | | | | | 2,057 | | | | | | 449,013 | | |
| Daiwabo Holdings Co., Ltd. | | | | | 10,765 | | | | | | 188,724 | | |
| Denso Corp. | | | | | 9,733 | | | | | | 701,903 | | |
Dentsu Group, Inc.(a) | | | | | 8,447 | | | | | | 308,915 | | |
| East Japan Railway Co. | | | | | 5,896 | | | | | | 366,506 | | |
| Eisai Co., Ltd. | | | | | 2,605 | | | | | | 183,384 | | |
| Electric Power Development Co., Ltd. | | | | | 9,864 | | | | | | 129,934 | | |
| ENEOS Holdings, Inc. | | | | | 295,417 | | | | | | 1,190,736 | | |
| Fast Retailing Co., Ltd. | | | | | 437 | | | | | | 289,392 | | |
| Fuji Media Holdings, Inc. | | | | | 16,234 | | | | | | 168,284 | | |
| FUJIFILM Holdings Corp. | | | | | 4,655 | | | | | | 359,295 | | |
| Fujitsu Ltd. | | | | | 5,903 | | | | | | 1,015,973 | | |
| Hakuhodo DY Holdings, Inc. | | | | | 19,995 | | | | | | 325,812 | | |
| Hankyu Hanshin Holdings, Inc. | | | | | 5,223 | | | | | | 161,465 | | |
| Hino Motors Ltd. | | | | | 26,905 | | | | | | 253,890 | | |
| Hitachi Ltd. | | | | | 27,950 | | | | | | 1,606,528 | | |
Hitachi Transport System Ltd.(a) | | | | | 5,430 | | | | | | 213,343 | | |
| Honda Motor Co., Ltd. | | | | | 44,351 | | | | | | 1,302,622 | | |
| Idemitsu Kosan Co., Ltd. | | | | | 28,200 | | | | | | 770,384 | | |
| IHI Corp. | | | | | 9,943 | | | | | | 231,429 | | |
| Inpex Corp. | | | | | 24,868 | | | | | | 207,624 | | |
| Isuzu Motors Ltd. | | | | | 22,022 | | | | | | 295,300 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Japan (continued) | |
| ITOCHU Corp. | | | | | 60,061 | | | | | $ | 1,707,676 | | |
Japan Airlines Co., Ltd.* | | | | | 7,954 | | | | | | 170,974 | | |
| Japan Post Bank Co., Ltd. | | | | | 17,393 | | | | | | 135,605 | | |
Japan Post Holdings Co., Ltd.* | | | | | 73,951 | | | | | | 567,482 | | |
| Japan Post Insurance Co., Ltd. | | | | | 13,173 | | | | | | 213,726 | | |
| Japan Tobacco, Inc. | | | | | 20,990 | | | | | | 411,516 | | |
| JFE Holdings, Inc. | | | | | 48,209 | | | | | | 736,929 | | |
| JTEKT Corp. | | | | | 21,558 | | | | | | 189,631 | | |
| Kajima Corp. | | | | | 32,313 | | | | | | 396,739 | | |
| Kansai Electric Power Co., Inc. (The) | | | | | 44,654 | | | | | | 410,413 | | |
| Kao Corp. | | | | | 4,021 | | | | | | 226,784 | | |
| Kawasaki Heavy Industries Ltd. | | | | | 9,619 | | | | | | 194,531 | | |
Kawasaki Kisen Kaisha Ltd.* | | | | | 7,720 | | | | | | 371,020 | | |
| KDDI Corp. | | | | | 39,388 | | | | | | 1,218,688 | | |
| Kinden Corp. | | | | | 10,453 | | | | | | 171,062 | | |
Kintetsu Group Holdings Co., Ltd.* | | | | | 5,006 | | | | | | 156,952 | | |
Kirin Holdings Co., Ltd.(a) | | | | | 16,304 | | | | | | 283,256 | | |
| Kobe Steel Ltd. | | | | | 50,783 | | | | | | 298,396 | | |
| Komatsu Ltd. | | | | | 11,620 | | | | | | 302,309 | | |
| Konica Minolta, Inc. | | | | | 39,240 | | | | | | 193,404 | | |
| Kubota Corp. | | | | | 13,289 | | | | | | 282,329 | | |
| Kyocera Corp. | | | | | 4,867 | | | | | | 284,059 | | |
| Kyushu Electric Power Co., Inc. | | | | | 34,350 | | | | | | 241,904 | | |
| Lixil Corp. | | | | | 7,235 | | | | | | 185,531 | | |
| Marubeni Corp. | | | | | 139,083 | | | | | | 1,172,432 | | |
Mazda Motor Corp.* | | | | | 40,653 | | | | | | 363,301 | | |
| Medipal Holdings Corp. | | | | | 28,030 | | | | | | 505,167 | | |
| MEIJI Holdings Co., Ltd. | | | | | 3,451 | | | | | | 217,607 | | |
| MINEBEA MITSUMI, Inc. | | | | | 6,830 | | | | | | 172,210 | | |
| Mitsubishi Chemical Holdings Corp. | | | | | 80,763 | | | | | | 667,707 | | |
| Mitsubishi Corp. | | | | | 68,147 | | | | | | 2,158,710 | | |
| Mitsubishi Electric Corp. | | | | | 54,429 | | | | | | 727,948 | | |
| Mitsubishi Heavy Industries Ltd. | | | | | 15,906 | | | | | | 405,793 | | |
| Mitsubishi Materials Corp. | | | | | 9,819 | | | | | | 189,965 | | |
Mitsubishi Motors Corp.* | | | | | 74,272 | | | | | | 236,446 | | |
| Mitsubishi UFJ Financial Group, Inc. | | | | | 78,693 | | | | | | 429,611 | | |
| Mitsui & Co., Ltd. | | | | | 62,878 | | | | | | 1,429,334 | | |
| Mitsui Chemicals, Inc. | | | | | 7,786 | | | | | | 230,797 | | |
| Mitsui OSK Lines Ltd. | | | | | 6,866 | | | | | | 431,138 | | |
| Mizuho Financial Group, Inc. | | | | | 17,964 | | | | | | 237,104 | | |
MS&AD Insurance Group Holdings,
Inc. | | | | | 10,922 | | | | | | 353,067 | | |
| Murata Manufacturing Co., Ltd. | | | | | 4,836 | | | | | | 366,989 | | |
| NEC Corp. | | | | | 11,897 | | | | | | 607,240 | | |
| NH Foods Ltd. | | | | | 4,789 | | | | | | 168,208 | | |
| Nidec Corp. | | | | | 2,143 | | | | | | 236,242 | | |
| Nintendo Co., Ltd. | | | | | 414 | | | | | | 182,265 | | |
| Nippon Express Co., Ltd. | | | | | 5,812 | | | | | | 362,915 | | |
Nippon Paint Holdings Co., Ltd.(a) | | | | | 12,535 | | | | | | 134,007 | | |
| Nippon Paper Industries Co., Ltd. | | | | | 17,466 | | | | | | 178,451 | | |
Nippon Sanso Holdings Corp.(a) | | | | | 10,400 | | | | | | 244,894 | | |
| Nippon Steel Corp. | | | | | 49,849 | | | | | | 873,915 | | |
| Nippon Telegraph & Telephone Corp. | | | | | 97,935 | | | | | | 2,738,143 | | |
| Nippon Yusen K.K. | | | | | 9,869 | | | | | | 707,989 | | |
Nissan Motor Co., Ltd.* | | | | | 144,652 | | | | | | 732,489 | | |
| Nitto Denko Corp. | | | | | 2,400 | | | | | | 186,906 | | |
| Nomura Research Institute Ltd. | | | | | 6,205 | | | | | | 247,057 | | |
| NTT Data Corp. | | | | | 36,206 | | | | | | 724,914 | | |
See notes to financial statements.
Schedule of Investments — IQ 500 International ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Japan (continued) | |
| Obayashi Corp. | | | | | 47,069 | | | | | $ | 395,458 | | |
| Oji Holdings Corp. | | | | | 43,111 | | | | | | 213,239 | | |
| Olympus Corp. | | | | | 8,505 | | | | | | 183,526 | | |
| Omron Corp. | | | | | 2,243 | | | | | | 213,825 | | |
| ORIX Corp. | | | | | 11,875 | | | | | | 234,844 | | |
| Osaka Gas Co., Ltd. | | | | | 12,302 | | | | | | 198,084 | | |
Otsuka Corp.(a) | | | | | 5,522 | | | | | | 271,197 | | |
Otsuka Holdings Co., Ltd.(a) | | | | | 7,073 | | | | | | 278,764 | | |
Pan Pacific International Holdings
Corp. | | | | | 11,550 | | | | | | 241,686 | | |
Panasonic Corp.(a) | | | | | 59,144 | | | | | | 722,280 | | |
| Persol Holdings Co., Ltd. | | | | | 14,020 | | | | | | 375,014 | | |
| Rakuten Group, Inc. | | | | | 33,555 | | | | | | 367,847 | | |
| Recruit Holdings Co., Ltd. | | | | | 11,616 | | | | | | 771,378 | | |
Renesas Electronics Corp.* | | | | | 17,885 | | | | | | 219,906 | | |
| Ricoh Co., Ltd. | | | | | 34,349 | | | | | | 333,173 | | |
| Secom Co., Ltd. | | | | | 3,735 | | | | | | 253,498 | | |
| Seiko Epson Corp. | | | | | 14,101 | | | | | | 250,547 | | |
| Sekisui Chemical Co., Ltd. | | | | | 12,320 | | | | | | 201,507 | | |
| Sekisui House Ltd. | | | | | 9,966 | | | | | | 206,400 | | |
| Seven & i Holdings Co., Ltd. | | | | | 24,430 | | | | | | 1,024,550 | | |
| SG Holdings Co., Ltd. | | | | | 13,749 | | | | | | 343,650 | | |
| Sharp Corp. | | | | | 16,500 | | | | | | 194,050 | | |
| Shimizu Corp. | | | | | 44,226 | | | | | | 323,089 | | |
| Shin-Etsu Chemical Co., Ltd. | | | | | 2,033 | | | | | | 361,135 | | |
| Ship Healthcare Holdings, Inc. | | | | | 7,853 | | | | | | 205,717 | | |
| Shiseido Co., Ltd. | | | | | 2,809 | | | | | | 186,610 | | |
| Showa Denko K.K. | | | | | 8,187 | | | | | | 205,420 | | |
| SoftBank Corp. | | | | | 83,589 | | | | | | 1,139,567 | | |
| SoftBank Group Corp. | | | | | 19,480 | | | | | | 1,053,056 | | |
| Sojitz Corp. | | | | | 22,175 | | | | | | 364,640 | | |
| Sompo Holdings, Inc. | | | | | 6,976 | | | | | | 302,716 | | |
| Sony Group Corp. | | | | | 11,650 | | | | | | 1,342,521 | | |
| Subaru Corp. | | | | | 18,093 | | | | | | 353,530 | | |
| Sumitomo Chemical Co., Ltd. | | | | | 84,963 | | | | | | 417,271 | | |
| Sumitomo Corp. | | | | | 60,409 | | | | | | 856,666 | | |
| Sumitomo Electric Industries Ltd. | | | | | 27,174 | | | | | | 359,023 | | |
| Sumitomo Forestry Co., Ltd. | | | | | 11,426 | | | | | | 217,447 | | |
| Sumitomo Metal Mining Co., Ltd. | | | | | 4,765 | | | | | | 184,833 | | |
| Sumitomo Mitsui Financial Group, Inc. | | | | | 8,614 | | | | | | 281,102 | | |
| Suntory Beverage & Food Ltd. | | | | | 5,781 | | | | | | 223,838 | | |
| Suzuken Co., Ltd. | | | | | 10,064 | | | | | | 278,906 | | |
| Suzuki Motor Corp. | | | | | 8,458 | | | | | | 376,447 | | |
| T&D Holdings, Inc. | | | | | 14,234 | | | | | | 182,505 | | |
| Taiheiyo Cement Corp. | | | | | 7,527 | | | | | | 159,155 | | |
| Taisei Corp. | | | | | 10,078 | | | | | | 315,531 | | |
| Takeda Pharmaceutical Co., Ltd. | | | | | 16,625 | | | | | | 467,002 | | |
| TDK Corp. | | | | | 6,890 | | | | | | 249,557 | | |
| Teijin Ltd. | | | | | 11,222 | | | | | | 150,480 | | |
| Tohoku Electric Power Co., Inc. | | | | | 36,475 | | | | | | 236,396 | | |
| Tokio Marine Holdings, Inc. | | | | | 7,626 | | | | | | 401,147 | | |
Tokyo Electric Power Co., Holdings,
Inc.* | | | | | 235,149 | | | | | | 649,611 | | |
| Tokyo Electron Ltd. | | | | | 836 | | | | | | 387,482 | | |
| Tokyo Gas Co., Ltd. | | | | | 13,288 | | | | | | 230,624 | | |
| Tokyu Corp. | | | | | 18,436 | | | | | | 259,018 | | |
| TOPPAN, Inc. | | | | | 21,916 | | | | | | 352,309 | | |
| | | | Shares | | | Value | | | |
| Common Stocks (continued) | | | |
| Japan (continued) | | | |
| Toray Industries, Inc. | | | | | 56,895 | | | | | $ | 353,720 | | | | |
| Toshiba Corp. | | | | | 10,398 | | | | | | 447,745 | | | | |
| Tosoh Corp. | | | | | 9,217 | | | | | | 155,119 | | | | |
| Toyo Seikan Group Holdings Ltd. | | | | | 14,738 | | | | | | 174,232 | | | | |
| Toyota Boshoku Corp. | | | | | 12,366 | | | | | | 236,638 | | | | |
| Toyota Industries Corp. | | | | | 2,881 | | | | | | 244,073 | | | | |
| Toyota Motor Corp. | | | | | 177,843 | | | | | | 3,129,507 | | | | |
| Toyota Tsusho Corp. | | | | | 28,655 | | | | | | 1,238,931 | | | | |
| West Japan Railway Co. | | | | | 4,330 | | | | | | 203,655 | | | | |
| Yamada Holdings Co., Ltd. | | | | | 47,150 | | | | | | 179,875 | | | | |
| Yamaha Motor Co., Ltd. | | | | | 8,288 | | | | | | 230,051 | | | | |
| Yamato Holdings Co., Ltd. | | | | | 13,468 | | | | | | 330,366 | | | | |
| Yamazaki Baking Co., Ltd. | | | | | 11,334 | | | | | | 171,961 | | | | |
| Z Holdings Corp. | | | | | 65,430 | | | | | | 405,118 | | | | |
| Zensho Holdings Co., Ltd. | | | | | 8,306 | | | | | | 191,433 | | | | |
| Total Japan | | | | | | | | | | | 74,864,063 | | | | |
| Luxembourg — 0.8% | | | | | | | |
| ArcelorMittal SA | | | | | 39,698 | | | | | | 1,347,205 | | | | |
| Eurofins Scientific SE | | | | | 3,101 | | | | | | 365,825 | | | | |
| RTL Group SA | | | | | 4,401 | | | | | | 254,041 | | | | |
| Total Luxembourg | | | | | | | | | | | 1,967,071 | | | | |
| Netherlands — 3.7% | | | | | | | |
| Aegon NV | | | | | 48,920 | | | | | | 248,246 | | | | |
| Akzo Nobel NV | | | | | 2,183 | | | | | | 251,162 | | | | |
| ASML Holding NV | | | | | 485 | | | | | | 393,167 | | | | |
| Heineken Holding NV | | | | | 5,056 | | | | | | 469,254 | | | | |
Heineken NV(a) | | | | | 4,373 | | | | | | 484,912 | | | | |
| ING Groep NV | | | | | 17,633 | | | | | | 267,724 | | | | |
| Koninklijke Ahold Delhaize NV | | | | | 49,512 | | | | | | 1,611,785 | | | | |
| Koninklijke DSM NV | | | | | 1,475 | | | | | | 322,698 | | | | |
| Koninklijke Philips NV | | | | | 8,287 | | | | | | 390,558 | | | | |
| NN Group NV | | | | | 4,297 | | | | | | 230,335 | | | | |
| Randstad NV | | | | | 9,066 | | | | | | 652,579 | | | | |
| Royal Dutch Shell PLC, Class A | | | | | 123,005 | | | | | | 2,834,318 | | | | |
Universal Music Group NV(a) | | | | | 17,594 | | | | | | 511,358 | | | | |
| Wolters Kluwer NV | | | | | 2,307 | | | | | | 241,988 | | | | |
| Total Netherlands | | | | | | | | | | | 8,910,084 | | | | |
| Norway — 0.8% | | | |
| Equinor ASA | | | | | 50,963 | | | | | | 1,287,736 | | | | |
| Norsk Hydro ASA | | | | | 49,683 | | | | | | 363,432 | | | | |
| Telenor ASA | | | | | 17,552 | | | | | | 276,685 | | | | |
| Total Norway | | | | | | | | | | | 1,927,853 | | | | |
| Portugal — 0.4% | | | |
| EDP — Energias de Portugal SA | | | | | 49,412 | | | | | | 279,277 | | | | |
| Galp Energia SGPS SA | | | | | 21,986 | | | | | | 228,786 | | | | |
| Jeronimo Martins SGPS SA | | | | | 22,433 | | | | | | 508,827 | | | | |
| Total Portugal | | | | | | | | | | | 1,016,890 | | | | |
| Singapore — 0.4% | | | |
| Jardine Cycle & Carriage Ltd. | | | | | 14,652 | | | | | | 244,471 | | | | |
| Oversea-Chinese Banking Corp., Ltd. | | | | | 26,734 | | | | | | 233,935 | | | | |
Singapore Airlines Ltd.* | | | | | 74,632 | | | | | | 287,791 | | | | |
| Singapore Telecommunications Ltd. | | | | | 145,838 | | | | | | 270,371 | | | | |
| Total Singapore | | | | | | | | | | | 1,036,568 | | | | |
| |
See notes to financial statements.
Schedule of Investments — IQ 500 International ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Spain — 2.5% | |
| Acciona SA | | | | | 1,379 | | | | | $ | 264,592 | | |
| ACS Actividades de Construccion y Servicios SA | | | | | 31,088 | | | | | | 814,150 | | |
| Banco Bilbao Vizcaya Argentaria SA | | | | | 58,853 | | | | | | 412,868 | | |
Banco Santander SA(a) | | | | | 187,273 | | | | | | 710,088 | | |
| Endesa SA | | | | | 13,494 | | | | | | 311,460 | | |
| Ferrovial SA | | | | | 8,083 | | | | | | 254,991 | | |
| Iberdrola SA | | | | | 55,712 | | | | | | 658,588 | | |
Industria de Diseno Textil SA(a) | | | | | 14,024 | | | | | | 507,002 | | |
| Mapfre SA | | | | | 99,903 | | | | | | 211,629 | | |
Naturgy Energy Group SA(a) | | | | | 12,957 | | | | | | 340,825 | | |
| Repsol SA | | | | | 51,671 | | | | | | 661,107 | | |
Siemens Gamesa Renewable Energy
SA* | | | | | 5,708 | | | | | | 154,769 | | |
| Telefonica SA | | | | | 199,622 | | | | | | 869,646 | | |
| Total Spain | | | | | | | | | | | 6,171,715 | | |
| Sweden — 1.5% | |
| Assa Abloy AB, B Shares | | | | | 6,717 | | | | | | 196,696 | | |
| Atlas Copco AB, A Shares | | | | | 3,491 | | | | | | 224,292 | | |
Electrolux AB, B Shares(a) | | | | | 6,611 | | | | | | 150,024 | | |
| Essity AB, B Shares | | | | | 8,505 | | | | | | 275,099 | | |
H & M Hennes & Mauritz AB, B
Shares(a) | | | | | 13,399 | | | | | | 251,209 | | |
| ICA Gruppen AB | | | | | 4,893 | | | | | | 252,954 | | |
| Sandvik AB | | | | | 7,003 | | | | | | 177,348 | | |
| Securitas AB, B Shares | | | | | 20,559 | | | | | | 339,917 | | |
| Skanska AB, B Shares | | | | | 15,906 | | | | | | 403,739 | | |
SSAB AB, A Shares* | | | | | 35,924 | | | | | | 204,539 | | |
| Telefonaktiebolaget LM Ericsson, B Shares | | | | | 44,038 | | | | | | 481,990 | | |
Telia Co. AB(a) | | | | | 51,667 | | | | | | 203,305 | | |
| Volvo AB, B Shares | | | | | 23,311 | | | | | | 542,625 | | |
| Total Sweden | | | | | | | | | | | 3,703,737 | | |
| Switzerland — 5.1% | |
| ABB Ltd. | | | | | 14,126 | | | | | | 468,264 | | |
| Adecco Group AG | | | | | 9,274 | | | | | | 467,582 | | |
| Alcon, Inc. | | | | | 2,569 | | | | | | 212,717 | | |
| Cie Financiere Richemont SA, Class A | | | | | 2,228 | | | | | | 275,772 | | |
| Credit Suisse Group AG | | | | | 21,423 | | | | | | 223,479 | | |
| DKSH Holding AG | | | | | 4,372 | | | | | | 350,717 | | |
Holcim Ltd.* | | | | | 9,136 | | | | | | 457,025 | | |
| Kuehne + Nagel International AG | | | | | 1,900 | | | | | | 599,475 | | |
| Nestle SA | | | | | 24,458 | | | | | | 3,233,943 | | |
| Novartis AG | | | | | 14,905 | | | | | | 1,233,832 | | |
| Roche Holding AG | | | | | 7,420 | | | | | | 2,875,022 | | |
| Schindler Holding AG — Participating Certificate | | | | | 745 | | | | | | 194,210 | | |
| Sika AG | | | | | 794 | | | | | | 269,373 | | |
| STMicroelectronics NV | | | | | 7,377 | | | | | | 349,293 | | |
| Swiss Life Holding AG | | | | | 450 | | | | | | 247,519 | | |
| Swisscom AG | | | | | 516 | | | | | | 281,449 | | |
| UBS Group AG | | | | | 17,659 | | | | | | 321,679 | | |
| Zurich Insurance Group AG | | | | | 1,091 | | | | | | 484,637 | | |
| Total Switzerland | | | | | | | | | | | 12,545,988 | | |
| |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| United Kingdom — 9.4% | |
| Associated British Foods PLC | | | | | 9,092 | | | | | $ | 222,836 | | |
| AstraZeneca PLC | | | | | 6,124 | | | | | | 763,393 | | |
| Aviva PLC | | | | | 87,184 | | | | | | 471,696 | | |
Babcock International Group PLC* | | | | | 55,390 | | | | | | 242,431 | | |
| BAE Systems PLC | | | | | 87,547 | | | | | | 662,187 | | |
| Barclays PLC | | | | | 103,726 | | | | | | 287,564 | | |
| BP PLC | | | | | 481,793 | | | | | | 2,312,782 | | |
| British American Tobacco PLC | | | | | 18,977 | | | | | | 662,414 | | |
BT Group PLC* | | | | | 308,895 | | | | | | 588,127 | | |
| Bunzl PLC | | | | | 9,288 | | | | | | 344,006 | | |
Centrica PLC* | | | | | 441,406 | | | | | | 364,970 | | |
| CK Hutchison Holdings Ltd. | | | | | 81,934 | | | | | | 551,384 | | |
Compass Group PLC* | | | | | 39,034 | | | | | | 829,340 | | |
| Computacenter PLC | | | | | 7,076 | | | | | | 260,914 | | |
| DCC PLC | | | | | 3,073 | | | | | | 257,204 | | |
| Diageo PLC | | | | | 7,502 | | | | | | 373,492 | | |
| DS Smith PLC | | | | | 34,306 | | | | | | 180,293 | | |
Entain PLC* | | | | | 9,306 | | | | | | 261,247 | | |
| Experian PLC | | | | | 6,055 | | | | | | 277,797 | | |
| GlaxoSmithKline PLC | | | | | 65,748 | | | | | | 1,359,611 | | |
| Hays PLC | | | | | 114,984 | | | | | | 261,640 | | |
| HSBC Holdings PLC | | | | | 87,259 | | | | | | 528,079 | | |
| Imperial Brands PLC | | | | | 20,883 | | | | | | 441,403 | | |
| J Sainsbury PLC | | | | | 159,954 | | | | | | 656,455 | | |
John Wood Group PLC* | | | | | 55,076 | | | | | | 161,183 | | |
| Johnson Matthey PLC | | | | | 9,075 | | | | | | 339,973 | | |
| Kingfisher PLC | | | | | 58,521 | | | | | | 268,729 | | |
| Legal & General Group PLC | | | | | 135,126 | | | | | | 535,112 | | |
| Lloyds Banking Group PLC | | | | | 667,411 | | | | | | 459,439 | | |
| M&G PLC | | | | | 71,498 | | | | | | 195,816 | | |
Marks & Spencer Group PLC* | | | | | 98,844 | | | | | | 248,760 | | |
| Melrose Industries PLC | | | | | 76,974 | | | | | | 166,498 | | |
| National Grid PLC | | | | | 31,799 | | | | | | 407,726 | | |
| NatWest Group PLC | | | | | 70,684 | | | | | | 214,224 | | |
Pearson PLC(a) | | | | | 18,159 | | | | | | 149,946 | | |
| Phoenix Group Holdings PLC | | | | | 24,512 | | | | | | 220,616 | | |
| Prudential PLC | | | | | 19,100 | | | | | | 391,280 | | |
| Reckitt Benckiser Group PLC | | | | | 4,223 | | | | | | 342,979 | | |
| RELX PLC | | | | | 12,871 | | | | | | 399,436 | | |
Rolls-Royce Holdings PLC* | | | | | 233,022 | | | | | | 421,116 | | |
| Royal Mail PLC | | | | | 49,413 | | | | | | 284,817 | | |
| Serco Group PLC | | | | | 98,870 | | | | | | 171,169 | | |
| SSE PLC | | | | | 9,337 | | | | | | 210,346 | | |
| Standard Chartered PLC | | | | | 30,047 | | | | | | 203,834 | | |
| Tesco PLC | | | | | 368,453 | | | | | | 1,363,148 | | |
| Travis Perkins PLC | | | | | 7,812 | | | | | | 165,229 | | |
| Unilever PLC | | | | | 24,299 | | | | | | 1,303,003 | | |
| Vodafone Group PLC | | | | | 499,948 | | | | | | 740,402 | | |
| WPP PLC | | | | | 30,838 | | | | | | 446,383 | | |
| Total United Kingdom | | | | | | | | | | | 22,972,429 | | |
| United States — 1.2% | |
| Ferguson PLC | | | | | 3,901 | | | | | | 587,935 | | |
Jackson Financial, Inc., Class A* | | | | | 473 | | | | | | 12,804 | | |
| Schneider Electric SE | | | | | 3,659 | | | | | | 630,498 | | |
| Stellantis NV | | | | | 59,288 | | | | | | 1,183,540 | | |
See notes to financial statements.
Schedule of Investments — IQ 500 International ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | | |
| Common Stocks (continued) | | |
| United States (continued) | | |
| Swiss Re AG | | | | | 3,331 | | | | | $ | 323,130 | | | |
| Waste Connections, Inc. | | | | | 1,797 | | | | | | 244,133 | | | |
| Total United States | | | | | | | | | | | 2,982,040 | | | |
| Total Common Stocks | | | | | | | | | | | | | | |
| (Cost $221,711,313) | | | | | | | | | | | 241,025,592 | | | |
| Preferred Stocks — 1.1% | | | | |
| Germany — 1.1% | | | | |
| Henkel AG & Co. KGaA, 2.37% | | | | | 3,959 | | | | | | 354,520 | | | |
| Schaeffler AG, 3.64% | | | | | 30,350 | | | | | | 240,941 | | | |
| Volkswagen AG, 2.50% | | | | | 9,155 | | | | | | 2,053,449 | | | |
| Total Germany | | | | | | | | | | | 2,648,910 | | | |
| Total Preferred Stocks | | | | | | | | | | | | | | |
| (Cost $2,624,162) | | | | | | | | | | | 2,648,910 | | | | | |
| Short-Term Investment — 2.7% | | | | | | | | | | | | | | |
| Money Market Fund — 2.7% | | | | | | | | | | | | | | |
Dreyfus Government Cash Management
Fund, Institutional Shares, 0.03%(b)(c) | | | | | | | | | | | | | | |
| (Cost $6,556,918) | | | | | 6,556,918 | | | | | | 6,556,918 | | | |
Total Investments — 102.4%
(Cost $230,892,393) | | | | | | | | | | | 250,231,420 | | | |
Other Assets and Liabilities,
Net — (2.4)% | | | | | | | | | | | (5,887,268) | | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 244,344,152 | | | |
| |
*
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 $6,539,412; total market value of collateral held by the Fund was $6,991,463. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $434,545.
(b)
Reflects the 1-day yield at October 31, 2021.
(c)
Represents security purchased with cash collateral received for securities on loan.
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | | | | | |
| Investments in Securities:(d) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | | | $ | 241,025,592 | | | | | $ | — | | | | | $ | — | | | | | $ | 241,025,592 | | |
| Preferred Stocks | | | | | 2,648,910 | | | | | | — | | | | | | — | | | | | | 2,648,910 | | |
| Short-Term Investment: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Money Market Fund | | | | | 6,556,918 | | | | | | — | | | | | | — | | | | | | 6,556,918 | | |
| Total Investments in Securities | | | | $ | 250,231,420 | | | | | $ | — | | | | | $ | — | | | | | $ | 250,231,420 | | |
(d)
For a complete listing of investments and their countries, see the Schedule of Investments.
For the period ended October 31, 2021,the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 2)
See notes to financial statements.
Schedule of Investments — IQ Candriam ESG U.S. Equity ETF
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks — 99.9% | |
| Communication Services — 10.2% | |
| Activision Blizzard, Inc. | | | | | 12,576 | | | | | $ | 983,317 | | |
Alphabet, Inc., Class A* | | | | | 4,858 | | | | | | 14,384,149 | | |
Alphabet, Inc., Class C* | | | | | 4,528 | | | | | | 13,427,376 | | |
| AT&T, Inc. | | | | | 116,589 | | | | | | 2,945,038 | | |
| Comcast Corp., Class A | | | | | 74,471 | | | | | | 3,830,044 | | |
| Electronic Arts, Inc. | | | | | 4,653 | | | | | | 652,583 | | |
| Fox Corp., Class A | | | | | 5,290 | | | | | | 210,225 | | |
| Fox Corp., Class B | | | | | 2,474 | | | | | | 91,439 | | |
Liberty Broadband Corp., Class A* | | | | | 388 | | | | | | 62,379 | | |
Liberty Broadband Corp., Class C* | | | | | 2,480 | | | | | | 402,876 | | |
| Omnicom Group, Inc. | | | | | 3,477 | | | | | | 236,714 | | |
Pinterest, Inc., Class A* | | | | | 8,881 | | | | | | 396,448 | | |
Roku, Inc.* | | | | | 1,877 | | | | | | 572,297 | | |
Snap, Inc., Class A* | | | | | 18,410 | | | | | | 967,998 | | |
Take-Two Interactive Software, Inc.* | | | | | 1,869 | | | | | | 338,289 | | |
Twitter, Inc.* | | | | | 12,704 | | | | | | 680,172 | | |
| Verizon Communications, Inc. | | | | | 65,085 | | | | | | 3,448,854 | | |
Walt Disney Co. (The)* | | | | | 29,680 | | | | | | 5,017,998 | | |
Zillow Group, Inc., Class A* | | | | | 711 | | | | | | 75,167 | | |
Zillow Group, Inc., Class C* | | | | | 2,673 | | | | | | 277,003 | | |
| Total Communication Services | | | | | | | | | | | 49,000,366 | | |
| Consumer Discretionary — 10.1% | |
Aptiv PLC* | | | | | 4,396 | | | | | | 760,024 | | |
| Best Buy Co., Inc. | | | | | 3,677 | | | | | | 449,476 | | |
Booking Holdings, Inc.* | | | | | 666 | | | | | | 1,612,239 | | |
Burlington Stores, Inc.* | | | | | 1,074 | | | | | | 296,735 | | |
Carnival Corp.*(a) | | | | | 13,841 | | | | | | 306,717 | | |
Chipotle Mexican Grill, Inc.* | | | | | 451 | | | | | | 802,343 | | |
| Domino’s Pizza, Inc. | | | | | 625 | | | | | | 305,606 | | |
| DR Horton, Inc. | | | | | 5,408 | | | | | | 482,772 | | |
| eBay, Inc. | | | | | 10,715 | | | | | | 822,055 | | |
Etsy, Inc.*(a) | | | | | 2,058 | | | | | | 515,920 | | |
| Garmin Ltd. | | | | | 2,486 | | | | | | 356,990 | | |
| Hasbro, Inc. | | | | | 2,099 | | | | | | 201,000 | | |
Hilton Worldwide Holdings, Inc.* | | | | | 4,468 | | | | | | 643,169 | | |
| Home Depot, Inc. (The) | | | | | 17,379 | | | | | | 6,460,469 | | |
LKQ Corp.* | | | | | 4,230 | | | | | | 232,988 | | |
| Lowe’s Cos., Inc. | | | | | 11,516 | | | | | | 2,692,671 | | |
Lululemon Athletica, Inc.* | | | | | 1,960 | | | | | | 913,380 | | |
Marriott International, Inc., Class A* | | | | | 4,313 | | | | | | 690,166 | | |
| McDonald’s Corp. | | | | | 12,192 | | | | | | 2,993,746 | | |
MercadoLibre, Inc.* | | | | | 782 | | | | | | 1,158,158 | | |
Mohawk Industries, Inc.* | | | | | 929 | | | | | | 164,628 | | |
| Newell Brands, Inc. | | | | | 6,198 | | | | | | 141,872 | | |
| NIKE, Inc., Class B | | | | | 20,569 | | | | | | 3,440,988 | | |
| Ross Stores, Inc. | | | | | 5,729 | | | | | | 648,523 | | |
Royal Caribbean Cruises Ltd.* | | | | | 3,526 | | | | | | 297,700 | | |
| Starbucks Corp. | | | | | 19,228 | | | | | | 2,039,514 | | |
| Target Corp. | | | | | 8,056 | | | | | | 2,091,499 | | |
Tesla, Inc.* | | | | | 12,649 | | | | | | 14,090,986 | | |
| TJX Cos., Inc. (The) | | | | | 18,273 | | | | | | 1,196,699 | | |
| Tractor Supply Co. | | | | | 1,870 | | | | | | 406,108 | | |
Ulta Beauty, Inc.* | | | | | 874 | | | | | | 321,073 | | |
| Vail Resorts, Inc. | | | | | 647 | | | | | | 223,027 | | |
| VF Corp. | | | | | 5,751 | | | | | | 419,133 | | |
| Yum China Holdings, Inc. | | | | | 6,577 | | | | | | 375,415 | | |
| Total Consumer Discretionary | | | | | | | | | | | 48,553,789 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Consumer Staples — 5.2% | |
| Archer-Daniels-Midland Co. | | | | | 9,083 | | | | | $ | 583,492 | | |
| Campbell Soup Co. | | | | | 3,304 | | | | | | 131,995 | | |
| Church & Dwight Co., Inc. | | | | | 3,996 | | | | | | 349,091 | | |
| Clorox Co. (The) | | | | | 2,034 | | | | | | 331,562 | | |
| Coca-Cola Co. (The) | | | | | 63,171 | | | | | | 3,560,949 | | |
| Colgate-Palmolive Co. | | | | | 13,782 | | | | | | 1,050,051 | | |
| Conagra Brands, Inc. | | | | | 7,684 | | | | | | 247,425 | | |
| Costco Wholesale Corp. | | | | | 7,211 | | | | | | 3,544,495 | | |
| Estee Lauder Cos., Inc. (The), Class A | | | | | 3,518 | | | | | | 1,140,993 | | |
| General Mills, Inc. | | | | | 9,901 | | | | | | 611,882 | | |
| Hershey Co. (The) | | | | | 2,382 | | | | | | 417,684 | | |
| Hormel Foods Corp. | | | | | 4,572 | | | | | | 193,487 | | |
| J M Smucker Co. (The) | | | | | 1,715 | | | | | | 210,705 | | |
| Kellogg Co. | | | | | 4,181 | | | | | | 256,295 | | |
| Keurig Dr Pepper, Inc. | | | | | 11,871 | | | | | | 428,424 | | |
| Kimberly-Clark Corp. | | | | | 5,496 | | | | | | 711,677 | | |
| Kroger Co. (The) | | | | | 11,276 | | | | | | 451,266 | | |
| McCormick & Co., Inc. | | | | | 4,028 | | | | | | 323,166 | | |
| PepsiCo, Inc. | | | | | 22,548 | | | | | | 3,643,757 | | |
| Procter & Gamble Co. (The) | | | | | 39,683 | | | | | | 5,674,272 | | |
| Sysco Corp. | | | | | 7,841 | | | | | | 602,973 | | |
| Walgreens Boots Alliance, Inc. | | | | | 11,675 | | | | | | 548,958 | | |
| Total Consumer Staples | | | | | | | | | | | 25,014,599 | | |
| Energy — 1.0% | |
Baker Hughes Co.(a) | | | | | 11,751 | | | | | | 294,715 | | |
| Halliburton Co. | | | | | 13,485 | | | | | | 336,990 | | |
| Kinder Morgan, Inc. | | | | | 32,395 | | | | | | 542,616 | | |
| Marathon Petroleum Corp. | | | | | 10,603 | | | | | | 699,056 | | |
| ONEOK, Inc. | | | | | 7,238 | | | | | | 460,482 | | |
| Phillips 66 | | | | | 7,132 | | | | | | 533,331 | | |
| Schlumberger NV | | | | | 22,816 | | | | | | 736,044 | | |
| Valero Energy Corp. | | | | | 6,653 | | | | | | 514,477 | | |
| Williams Cos., Inc. (The) | | | | | 19,801 | | | | | | 556,210 | | |
| Total Energy | | | | | | | | | | | 4,673,921 | | |
| Financials — 8.7% | |
| Aflac, Inc. | | | | | 10,173 | | | | | | 545,985 | | |
Alleghany Corp.* | | | | | 219 | | | | | | 142,652 | | |
| Allstate Corp. (The) | | | | | 4,775 | | | | | | 590,524 | | |
| Ally Financial, Inc. | | | | | 5,991 | | | | | | 286,010 | | |
| American Express Co. | | | | | 9,872 | | | | | | 1,715,556 | | |
| American International Group, Inc. | | | | | 14,023 | | | | | | 828,619 | | |
| Ameriprise Financial, Inc. | | | | | 1,886 | | | | | | 569,817 | | |
| Annaly Capital Management, Inc. | | | | | 22,777 | | | | | | 192,693 | | |
Aon PLC, Class A(a) | | | | | 3,526 | | | | | | 1,128,038 | | |
Arch Capital Group Ltd.* | | | | | 6,379 | | | | | | 266,770 | | |
| Arthur J Gallagher & Co. | | | | | 3,337 | | | | | | 559,515 | | |
| Bank of America Corp. | | | | | 123,069 | | | | | | 5,880,237 | | |
| Bank of New York Mellon Corp. (The) | | | | | 13,092 | | | | | | 775,046 | | |
| Blackstone, Inc. | | | | | 11,082 | | | | | | 1,533,970 | | |
| Charles Schwab Corp. (The) | | | | | 24,671 | | | | | | 2,023,762 | | |
| Chubb Ltd. | | | | | 6,338 | | | | | | 1,238,318 | | |
| Cincinnati Financial Corp. | | | | | 2,520 | | | | | | 306,029 | | |
| Citigroup, Inc. | | | | | 33,683 | | | | | | 2,329,516 | | |
| Citizens Financial Group, Inc. | | | | | 6,925 | | | | | | 328,107 | | |
| Everest Re Group Ltd. | | | | | 639 | | | | | | 167,099 | | |
| First Republic Bank | | | | | 2,856 | | | | | | 617,839 | | |
See notes to financial statements.
Schedule of Investments — IQ Candriam ESG U.S. Equity ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Financials (continued) | |
| Franklin Resources, Inc. | | | | | 4,792 | | | | | $ | 150,900 | | |
| Globe Life, Inc. | | | | | 1,547 | | | | | | 137,714 | | |
| Hartford Financial Services Group, Inc. (The) | | | | | 5,822 | | | | | | 424,599 | | |
| Huntington Bancshares, Inc. | | | | | 23,772 | | | | | | 374,171 | | |
| Interactive Brokers Group, Inc., Class A | | | | | 1,326 | | | | | | 93,947 | | |
| Intercontinental Exchange, Inc. | | | | | 9,105 | | | | | | 1,260,678 | | |
| KeyCorp | | | | | 15,780 | | | | | | 367,201 | | |
| M&T Bank Corp. | | | | | 2,087 | | | | | | 307,039 | | |
| Marsh & McLennan Cos., Inc. | | | | | 8,228 | | | | | | 1,372,430 | | |
| MetLife, Inc. | | | | | 11,050 | | | | | | 693,940 | | |
| Moody’s Corp. | | | | | 2,646 | | | | | | 1,069,381 | | |
| Morgan Stanley | | | | | 24,084 | | | | | | 2,475,354 | | |
| MSCI, Inc. | | | | | 1,310 | | | | | | 870,993 | | |
| Northern Trust Corp. | | | | | 3,203 | | | | | | 394,097 | | |
| PNC Financial Services Group, Inc. (The) | | | | | 6,899 | | | | | | 1,455,896 | | |
| Principal Financial Group, Inc. | | | | | 4,427 | | | | | | 297,007 | | |
| Progressive Corp. (The) | | | | | 9,536 | | | | | | 904,776 | | |
| Prudential Financial, Inc. | | | | | 6,432 | | | | | | 707,842 | | |
| Raymond James Financial, Inc. | | | | | 3,007 | | | | | | 296,460 | | |
| Regions Financial Corp. | | | | | 15,677 | | | | | | 371,231 | | |
| S&P Global, Inc. | | | | | 3,937 | | | | | | 1,866,768 | | |
SVB Financial Group* | | | | | 912 | | | | | | 654,269 | | |
| Synchrony Financial | | | | | 9,476 | | | | | | 440,160 | | |
| Travelers Cos., Inc. (The) | | | | | 4,094 | | | | | | 658,643 | | |
| Truist Financial Corp. | | | | | 21,869 | | | | | | 1,388,025 | | |
| W R Berkley Corp. | | | | | 2,205 | | | | | | 175,518 | | |
| Willis Towers Watson PLC | | | | | 2,084 | | | | | | 504,912 | | |
| Total Financials | | | | | | | | | | | 41,740,053 | | |
| Health Care — 14.2% | |
| Abbott Laboratories | | | | | 28,833 | | | | | | 3,716,285 | | |
| AbbVie, Inc. | | | | | 28,424 | | | | | | 3,259,380 | | |
ABIOMED, Inc.* | | | | | 723 | | | | | | 240,065 | | |
| Agilent Technologies, Inc. | | | | | 4,936 | | | | | | 777,371 | | |
Align Technology, Inc.* | | | | | 1,205 | | | | | | 752,366 | | |
| Amgen, Inc. | | | | | 9,376 | | | | | | 1,940,551 | | |
| Anthem, Inc. | | | | | 3,986 | | | | | | 1,734,428 | | |
Biogen, Inc.* | | | | | 2,438 | | | | | | 650,166 | | |
BioMarin Pharmaceutical, Inc.* | | | | | 2,971 | | | | | | 235,392 | | |
| Cardinal Health, Inc. | | | | | 4,721 | | | | | | 225,711 | | |
Centene Corp.* | | | | | 9,306 | | | | | | 662,959 | | |
| Cerner Corp. | | | | | 4,910 | | | | | | 364,764 | | |
| Cigna Corp. | | | | | 5,595 | | | | | | 1,195,148 | | |
| Cooper Cos., Inc. (The) | | | | | 805 | | | | | | 335,620 | | |
| CVS Health Corp. | | | | | 21,456 | | | | | | 1,915,592 | | |
| Danaher Corp. | | | | | 10,348 | | | | | | 3,226,196 | | |
DaVita, Inc.* | | | | | 1,080 | | | | | | 111,499 | | |
| DENTSPLY SIRONA, Inc. | | | | | 3,549 | | | | | | 203,038 | | |
Dexcom, Inc.* | | | | | 1,561 | | | | | | 972,831 | | |
Edwards Lifesciences Corp.* | | | | | 10,078 | | | | | | 1,207,546 | | |
| Eli Lilly & Co. | | | | | 13,864 | | | | | | 3,531,993 | | |
Exact Sciences Corp.*(a) | | | | | 2,777 | | | | | | 264,426 | | |
| Gilead Sciences, Inc. | | | | | 20,500 | | | | | | 1,330,040 | | |
| HCA Healthcare, Inc. | | | | | 4,339 | | | | | | 1,086,746 | | |
Henry Schein, Inc.* | | | | | 2,275 | | | | | | 173,696 | | |
Hologic, Inc.* | | | | | 4,146 | | | | | | 303,943 | | |
| Humana, Inc. | | | | | 2,075 | | | | | | 961,057 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Health Care (continued) | |
IDEXX Laboratories, Inc.* | | | | | 1,376 | | | | | $ | 916,609 | | |
Illumina, Inc.* | | | | | 2,377 | | | | | | 986,598 | | |
Incyte Corp.* | | | | | 3,027 | | | | | | 202,748 | | |
Intuitive Surgical, Inc.* | | | | | 5,754 | | | | | | 2,077,942 | | |
IQVIA Holdings, Inc.* | | | | | 3,059 | | | | | | 799,684 | | |
Jazz Pharmaceuticals PLC* | | | | | 968 | | | | | | 128,783 | | |
| Johnson & Johnson | | | | | 43,027 | | | | | | 7,008,238 | | |
Laboratory Corp. of America Holdings* | | | | | 1,582 | | | | | | 454,066 | | |
| Medtronic PLC | | | | | 21,935 | | | | | | 2,629,129 | | |
| Merck & Co., Inc. | | | | | 41,082 | | | | | | 3,617,270 | | |
Mettler-Toledo International, Inc.* | | | | | 368 | | | | | | 544,964 | | |
Moderna, Inc.* | | | | | 5,600 | | | | | | 1,933,176 | | |
| Quest Diagnostics, Inc. | | | | | 2,121 | | | | | | 311,320 | | |
Regeneron Pharmaceuticals, Inc.* | | | | | 1,663 | | | | | | 1,064,220 | | |
| ResMed, Inc. | | | | | 2,355 | | | | | | 619,153 | | |
Seagen, Inc.* | | | | | 2,165 | | | | | | 381,754 | | |
Teladoc Health, Inc.* | | | | | 2,273 | | | | | | 340,018 | | |
| Thermo Fisher Scientific, Inc. | | | | | 6,410 | | | | | | 4,057,979 | | |
| UnitedHealth Group, Inc. | | | | | 15,346 | | | | | | 7,066,373 | | |
Vertex Pharmaceuticals, Inc.* | | | | | 4,218 | | | | | | 780,035 | | |
Waters Corp.* | | | | | 1,005 | | | | | | 369,388 | | |
| West Pharmaceutical Services, Inc. | | | | | 1,198 | | | | | | 514,996 | | |
| Total Health Care | | | | | | | | | | | 68,183,252 | | |
| Industrials — 6.4% | |
| 3M Co. | | | | | 9,469 | | | | | | 1,691,921 | | |
| A O Smith Corp. | | | | | 2,182 | | | | | | 159,439 | | |
| CH Robinson Worldwide, Inc. | | | | | 2,123 | | | | | | 205,910 | | |
| Cintas Corp. | | | | | 1,450 | | | | | | 627,995 | | |
CoStar Group, Inc.* | | | | | 6,381 | | | | | | 549,085 | | |
| CSX Corp. | | | | | 37,048 | | | | | | 1,340,026 | | |
| Deere & Co. | | | | | 4,609 | | | | | | 1,577,707 | | |
| Dover Corp. | | | | | 2,336 | | | | | | 394,971 | | |
| Eaton Corp. PLC | | | | | 6,501 | | | | | | 1,071,105 | | |
| Equifax, Inc. | | | | | 1,983 | | | | | | 550,144 | | |
| Expeditors International of Washington, Inc. | | | | | 2,753 | | | | | | 339,335 | | |
| Fastenal Co. | | | | | 9,359 | | | | | | 534,212 | | |
| FedEx Corp. | | | | | 4,001 | | | | | | 942,355 | | |
| Fortive Corp. | | | | | 5,384 | | | | | | 407,623 | | |
| Fortune Brands Home & Security, Inc. | | | | | 2,258 | | | | | | 228,961 | | |
| General Electric Co. | | | | | 17,682 | | | | | | 1,854,311 | | |
| IHS Markit Ltd. | | | | | 5,727 | | | | | | 748,633 | | |
| Illinois Tool Works, Inc. | | | | | 4,672 | | | | | | 1,064,609 | | |
Ingersoll Rand, Inc.* | | | | | 6,345 | | | | | | 341,107 | | |
| JB Hunt Transport Services, Inc. | | | | | 1,369 | | | | | | 269,953 | | |
| Johnson Controls International PLC | | | | | 11,678 | | | | | | 856,815 | | |
| Kansas City Southern | | | | | 1,485 | | | | | | 460,721 | | |
Lyft, Inc., Class A* | | | | | 4,302 | | | | | | 197,333 | | |
| Masco Corp. | | | | | 4,129 | | | | | | 270,656 | | |
| Norfolk Southern Corp. | | | | | 4,086 | | | | | | 1,197,402 | | |
| Old Dominion Freight Line, Inc. | | | | | 1,703 | | | | | | 581,319 | | |
| Otis Worldwide Corp. | | | | | 7,018 | | | | | | 563,616 | | |
| Parker-Hannifin Corp. | | | | | 2,095 | | | | | | 621,356 | | |
| Republic Services, Inc. | | | | | 3,433 | | | | | | 462,082 | | |
| Rockwell Automation, Inc. | | | | | 1,892 | | | | | | 604,305 | | |
| Roper Technologies, Inc. | | | | | 1,714 | | | | | | 836,209 | | |
| Trane Technologies PLC | | | | | 3,894 | | | | | | 704,541 | | |
See notes to financial statements.
Schedule of Investments — IQ Candriam ESG U.S. Equity ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Industrials (continued) | |
| TransUnion | | | | | 3,089 | | | | | $ | 356,131 | | |
| Union Pacific Corp. | | | | | 10,844 | | | | | | 2,617,742 | | |
| United Parcel Service, Inc., Class B | | | | | 11,824 | | | | | | 2,524,069 | | |
United Rentals, Inc.* | | | | | 1,175 | | | | | | 445,454 | | |
| Verisk Analytics, Inc. | | | | | 2,622 | | | | | | 551,328 | | |
| Waste Management, Inc. | | | | | 6,885 | | | | | | 1,103,184 | | |
| Westinghouse Air Brake Technologies Corp. | | | | | 2,902 | | | | | | 263,298 | | |
| WW Grainger, Inc. | | | | | 711 | | | | | | 329,271 | | |
| Xylem, Inc. | | | | | 2,931 | | | | | | 382,759 | | |
| Total Industrials | | | | | | | | | | | 30,828,993 | | |
| Information Technology — 36.9% | |
| Accenture PLC, Class A | | | | | 10,357 | | | | | | 3,715,988 | | |
Adobe, Inc.* | | | | | 7,771 | | | | | | 5,053,948 | | |
Advanced Micro Devices, Inc.* | | | | | 19,768 | | | | | | 2,376,707 | | |
Akamai Technologies, Inc.* | | | | | 2,611 | | | | | | 275,356 | | |
| Analog Devices, Inc. | | | | | 8,749 | | | | | | 1,517,864 | | |
ANSYS, Inc.* | | | | | 1,406 | | | | | | 533,689 | | |
| Apple, Inc. | | | | | 272,559 | | | | | | 40,829,338 | | |
| Applied Materials, Inc. | | | | | 14,852 | | | | | | 2,029,526 | | |
Arista Networks, Inc.* | | | | | 911 | | | | | | 373,228 | | |
Autodesk, Inc.* | | | | | 3,590 | | | | | | 1,140,220 | | |
| Automatic Data Processing, Inc. | | | | | 6,945 | | | | | | 1,559,083 | | |
| Broadcom, Inc. | | | | | 6,448 | | | | | | 3,428,208 | | |
| Broadridge Financial Solutions, Inc. | | | | | 1,882 | | | | | | 335,768 | | |
Cadence Design Systems, Inc.* | | | | | 4,481 | | | | | | 775,706 | | |
| CDW Corp. | | | | | 2,274 | | | | | | 424,442 | | |
| Cisco Systems, Inc. | | | | | 63,487 | | | | | | 3,553,367 | | |
| Citrix Systems, Inc. | | | | | 2,013 | | | | | | 190,691 | | |
| Cognizant Technology Solutions Corp., Class A | | | | | 8,597 | | | | | | 671,340 | | |
Coupa Software, Inc.* | | | | | 1,194 | | | | | | 271,874 | | |
Datadog, Inc., Class A* | | | | | 3,592 | | | | | | 600,044 | | |
Dell Technologies, Inc., Class C* | | | | | 4,407 | | | | | | 484,726 | | |
DocuSign, Inc.* | | | | | 3,086 | | | | | | 858,803 | | |
Dropbox, Inc., Class A* | | | | | 4,903 | | | | | | 149,492 | | |
Enphase Energy, Inc.* | | | | | 2,020 | | | | | | 467,893 | | |
EPAM Systems, Inc.* | | | | | 887 | | | | | | 597,164 | | |
F5 Networks, Inc.* | | | | | 970 | | | | | | 204,815 | | |
Fiserv, Inc.* | | | | | 9,806 | | | | | | 965,793 | | |
Fortinet, Inc.* | | | | | 2,278 | | | | | | 766,183 | | |
Gartner, Inc.* | | | | | 1,363 | | | | | | 452,393 | | |
| Global Payments, Inc. | | | | | 4,791 | | | | | | 685,065 | | |
| Hewlett Packard Enterprise Co. | | | | | 21,291 | | | | | | 311,913 | | |
| HP, Inc. | | | | | 19,585 | | | | | | 594,013 | | |
HubSpot, Inc.* | | | | | 722 | | | | | | 584,986 | | |
| Intel Corp. | | | | | 65,989 | | | | | | 3,233,461 | | |
| International Business Machines Corp. | | | | | 14,587 | | | | | | 1,824,834 | | |
| Intuit, Inc. | | | | | 4,343 | | | | | | 2,718,675 | | |
Keysight Technologies, Inc.* | | | | | 2,997 | | | | | | 539,520 | | |
| KLA Corp. | | | | | 2,500 | | | | | | 931,900 | | |
| Lam Research Corp. | | | | | 2,320 | | | | | | 1,307,482 | | |
| Mastercard, Inc., Class A | | | | | 14,207 | | | | | | 4,766,733 | | |
| Micron Technology, Inc. | | | | | 18,365 | | | | | | 1,269,021 | | |
| Microsoft Corp. | | | | | 121,364 | | | | | | 40,246,730 | | |
| Motorola Solutions, Inc. | | | | | 2,754 | | | | | | 684,617 | | |
| NetApp, Inc. | | | | | 3,637 | | | | | | 324,784 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Information Technology (continued) | |
| NortonLifeLock, Inc. | | | | | 9,101 | | | | | $ | 231,620 | | |
| NVIDIA Corp. | | | | | 39,040 | | | | | | 9,981,357 | | |
Okta, Inc.*(a) | | | | | 2,322 | | | | | | 573,952 | | |
Palo Alto Networks, Inc.* | | | | | 1,559 | | | | | | 793,671 | | |
| Paychex, Inc. | | | | | 5,250 | | | | | | 647,220 | | |
Paycom Software, Inc.* | | | | | 834 | | | | | | 456,907 | | |
PayPal Holdings, Inc.* | | | | | 19,189 | | | | | | 4,463,170 | | |
| QUALCOMM, Inc. | | | | | 18,417 | | | | | | 2,450,198 | | |
RingCentral, Inc., Class A* | | | | | 1,303 | | | | | | 317,645 | | |
salesforce.com, Inc.* | | | | | 15,224 | | | | | | 4,562,481 | | |
ServiceNow, Inc.* | | | | | 3,224 | | | | | | 2,249,578 | | |
| Skyworks Solutions, Inc. | | | | | 2,693 | | | | | | 450,081 | | |
Splunk, Inc.* | | | | | 2,662 | | | | | | 438,751 | | |
Synopsys, Inc.* | | | | | 2,484 | | | | | | 827,619 | | |
| TE Connectivity Ltd. | | | | | 5,393 | | | | | | 787,378 | | |
| Teradyne, Inc. | | | | | 2,713 | | | | | | 375,045 | | |
| Texas Instruments, Inc. | | | | | 15,073 | | | | | | 2,825,886 | | |
Trimble, Inc.* | | | | | 4,079 | | | | | | 356,382 | | |
Twilio, Inc., Class A* | | | | | 2,609 | | | | | | 760,158 | | |
VeriSign, Inc.* | | | | | 1,603 | | | | | | 356,940 | | |
Visa, Inc., Class A(a) | | | | | 27,470 | | | | | | 5,817,322 | | |
VMware, Inc., Class A*(a) | | | | | 1,299 | | | | | | 197,058 | | |
Western Digital Corp.* | | | | | 4,881 | | | | | | 255,227 | | |
| Western Union Co. (The) | | | | | 6,630 | | | | | | 120,799 | | |
Workday, Inc., Class A* | | | | | 3,046 | | | | | | 883,279 | | |
| Xilinx, Inc. | | | | | 4,008 | | | | | | 721,440 | | |
Zebra Technologies Corp., Class A* | | | | | 863 | | | | | | 460,799 | | |
Zscaler, Inc.* | | | | | 1,362 | | | | | | 434,287 | | |
| Total Information Technology | | | | | | | | | | | 177,423,633 | | |
| Materials — 2.5% | |
| Air Products and Chemicals, Inc. | | | | | 3,607 | | | | | | 1,081,415 | | |
| Albemarle Corp. | | | | | 1,900 | | | | | | 475,893 | | |
| Ball Corp. | | | | | 5,333 | | | | | | 487,863 | | |
| Dow, Inc. | | | | | 12,159 | | | | | | 680,539 | | |
| DuPont de Nemours, Inc. | | | | | 8,678 | | | | | | 603,989 | | |
| Ecolab, Inc. | | | | | 4,150 | | | | | | 922,213 | | |
| International Flavors & Fragrances, Inc. | | | | | 4,063 | | | | | | 599,089 | | |
| International Paper Co. | | | | | 6,374 | | | | | | 316,597 | | |
| Linde PLC | | | | | 8,448 | | | | | | 2,696,602 | | |
| LyondellBasell Industries NV, Class A | | | | | 4,297 | | | | | | 398,847 | | |
| Newmont Corp. | | | | | 13,070 | | | | | | 705,780 | | |
| Nucor Corp. | | | | | 4,862 | | | | | | 542,842 | | |
| Packaging Corp. of America | | | | | 1,536 | | | | | | 211,000 | | |
| PPG Industries, Inc. | | | | | 3,872 | | | | | | 621,727 | | |
| Sherwin-Williams Co. (The) | | | | | 3,925 | | | | | | 1,242,694 | | |
Sylvamo Corp.* | | | | | 586 | | | | | | 16,502 | | |
| Vulcan Materials Co. | | | | | 2,165 | | | | | | 411,610 | | |
| Westrock Co. | | | | | 4,278 | | | | | | 205,772 | | |
| Total Materials | | | | | | | | | | | 12,220,974 | | |
| Real Estate — 3.4% | |
| Alexandria Real Estate Equities, Inc. | | | | | 2,523 | | | | | | 515,045 | | |
| American Tower Corp. | | | | | 7,405 | | | | | | 2,087,988 | | |
| AvalonBay Communities, Inc. | | | | | 2,281 | | | | | | 539,867 | | |
| Boston Properties, Inc. | | | | | 2,320 | | | | | | 263,645 | | |
CBRE Group, Inc., Class A* | | | | | 5,257 | | | | | | 547,148 | | |
| Crown Castle International Corp. | | | | | 7,036 | | | | | | 1,268,591 | | |
See notes to financial statements.
Schedule of Investments — IQ Candriam ESG U.S. Equity ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Real Estate (continued) | |
| Digital Realty Trust, Inc. | | | | | 4,598 | | | | | $ | 725,610 | | |
| Duke Realty Corp. | | | | | 6,112 | | | | | | 343,739 | | |
| Equinix, Inc. | | | | | 1,459 | | | | | | 1,221,285 | | |
| Equity Residential | | | | | 5,908 | | | | | | 510,451 | | |
| Essex Property Trust, Inc. | | | | | 1,065 | | | | | | 362,025 | | |
| Extra Space Storage, Inc. | | | | | 2,138 | | | | | | 421,977 | | |
| Healthpeak Properties, Inc. | | | | | 8,780 | | | | | | 311,778 | | |
Host Hotels & Resorts, Inc.* | | | | | 11,395 | | | | | | 191,778 | | |
| Invitation Homes, Inc. | | | | | 9,241 | | | | | | 381,191 | | |
| Iron Mountain, Inc. | | | | | 4,678 | | | | | | 213,504 | | |
| Mid-America Apartment Communities, Inc. | | | | | 1,856 | | | | | | 379,014 | | |
| Prologis, Inc. | | | | | 12,050 | | | | | | 1,746,768 | | |
| Public Storage | | | | | 2,431 | | | | | | 807,530 | | |
| Realty Income Corp. | | | | | 6,341 | | | | | | 452,938 | | |
| SBA Communications Corp. | | | | | 1,775 | | | | | | 612,961 | | |
| Simon Property Group, Inc. | | | | | 5,346 | | | | | | 783,617 | | |
| UDR, Inc. | | | | | 4,814 | | | | | | 267,321 | | |
| Ventas, Inc. | | | | | 6,108 | | | | | | 325,984 | | |
| Welltower, Inc. | | | | | 6,819 | | | | | | 548,248 | | |
| Weyerhaeuser Co. | | | | | 12,214 | | | | | | 436,284 | | |
| WP Carey, Inc. | | | | | 2,995 | | | | | | 230,944 | | |
| Total Real Estate | | | | | | | | | | | 16,497,231 | | |
| Utilities — 1.3% | |
| American Water Works Co., Inc. | | | | | 2,964 | | | | | | 516,270 | | |
| Atmos Energy Corp. | | | | | 2,118 | | | | | | 195,110 | | |
Avangrid, Inc.(a) | | | | | 1,157 | | | | | | 60,974 | | |
| CenterPoint Energy, Inc. | | | | | 9,455 | | | | | | 246,208 | | |
| Consolidated Edison, Inc. | | | | | 5,761 | | | | | | 434,379 | | |
| Edison International | | | | | 6,198 | | | | | | 390,040 | | |
| Entergy Corp. | | | | | 3,264 | | | | | | 336,257 | | |
| Eversource Energy | | | | | 5,603 | | | | | | 475,695 | | |
| NextEra Energy, Inc. | | | | | 32,000 | | | | | | 2,730,560 | | |
| Public Service Enterprise Group, Inc. | | | | | 8,250 | | | | | | 526,350 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Utilities (continued) | |
| Sempra Energy | | | | | 5,154 | | | | | $ | 657,805 | | |
| Total Utilities | | | | | | | | | | | 6,569,648 | | |
Total Common Stocks
(Cost $374,260,662) | | | | | | | | | | | 480,706,459 | | |
| Short-Term Investments — 0.1% | |
| Money Market Funds — 0.1% | | | | | | | | | | | | | |
Dreyfus Government Cash Management Fund, Institutional Shares, 0.03%(b)(c) | | | | | 201,975 | | | | | | 201,975 | | |
Dreyfus Institutional Preferred Government
Money Market Fund, Institutional Shares,
0.01%(b) | | | | | 175,751 | | | | | | 175,751 | | |
Total Short-Term Investments
(Cost $377,726) | | | | | | | | | | | 377,726 | | |
Total Investments — 100.0%
(Cost $374,638,388) | | | | | | | | | | | 481,084,185 | | |
Other Assets and Liabilities,
Net — (0.0)%(d) | | | | | | | | | | | 161,615 | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 481,245,800 | | |
| |
*
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 $8,848,522; total market value of collateral held by the Fund was $8,971,033. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $8,769,058.
(b)
Reflects the 1-day yield at October 31, 2021.
(c)
Represents security purchased with cash collateral received for securities on loan.
(d)
Less than 0.05%.
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investments in Securities:(e) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | | | $ | 480,706,459 | | | | | $ | — | | | | | $ | — | | | | | $ | 480,706,459 | | |
| Short-Term Investments: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Money Market Funds | | | | | 377,726 | | | | | | — | | | | | | — | | | | | | 377,726 | | |
| Total Investments in Securities | | | | $ | 481,084,185 | | | | | $ | — | | | | | $ | — | | | | | $ | 481,084,185 | | |
(e)
For a complete listing of investments and their industries, see the Schedule of Investments.
For the period ended October 31, 2021,the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 2)
See notes to financial statements.
Schedule of Investments — IQ Candriam ESG International Equity ETF
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks — 99.2% | |
| Australia — 7.7% | |
| Alumina Ltd. | | | | | 42,081 | | | | | $ | 62,898 | | |
AMP Ltd.* | | | | | 55,057 | | | | | | 44,662 | | |
| Ampol Ltd. | | | | | 3,690 | | | | | | 84,671 | | |
| APA Group | | | | | 19,280 | | | | | | 118,746 | | |
| Aurizon Holdings Ltd. | | | | | 29,185 | | | | | | 73,873 | | |
| AusNet Services Ltd. | | | | | 30,940 | | | | | | 57,400 | | |
Australia & New Zealand Banking Group
Ltd. | | | | | 43,300 | | | | | | 915,187 | | |
| BHP Group Ltd. | | | | | 47,644 | | | | | | 1,309,031 | | |
| BHP Group PLC | | | | | 33,347 | | | | | | 884,496 | | |
| BlueScope Steel Ltd. | | | | | 8,199 | | | | | | 126,984 | | |
Boral Ltd.* | | | | | 17,949 | | | | | | 86,012 | | |
| Brambles Ltd. | | | | | 23,414 | | | | | | 176,566 | | |
| CIMIC Group Ltd. | | | | | 1,092 | | | | | | 16,338 | | |
| Cochlear Ltd. | | | | | 1,074 | | | | | | 177,825 | | |
| Computershare Ltd. | | | | | 8,251 | | | | | | 116,262 | | |
| CSL Ltd. | | | | | 7,352 | | | | | | 1,659,333 | | |
| Dexus | | | | | 17,547 | | | | | | 143,262 | | |
| Evolution Mining Ltd. | | | | | 27,178 | | | | | | 74,101 | | |
| Goodman Group | | | | | 29,017 | | | | | | 477,303 | | |
| GPT Group (The) | | | | | 30,841 | | | | | | 119,530 | | |
| Insurance Australia Group Ltd. | | | | | 40,254 | | | | | | 145,127 | | |
| Lendlease Corp., Ltd. | | | | | 11,236 | | | | | | 88,276 | | |
| Macquarie Group Ltd. | | | | | 5,676 | | | | | | 843,398 | | |
| Magellan Financial Group Ltd. | | | | | 2,337 | | | | | | 60,857 | | |
| Medibank Pvt Ltd. | | | | | 44,900 | | | | | | 111,965 | | |
| Mineral Resources Ltd. | | | | | 2,628 | | | | | | 76,173 | | |
| Mirvac Group | | | | | 64,187 | | | | | | 135,955 | | |
| National Australia Bank Ltd. | | | | | 53,491 | | | | | | 1,153,485 | | |
| Newcrest Mining Ltd. | | | | | 13,347 | | | | | | 249,521 | | |
| Oil Search Ltd. | | | | | 28,794 | | | | | | 92,781 | | |
| QBE Insurance Group Ltd. | | | | | 24,071 | | | | | | 213,883 | | |
| Ramsay Health Care Ltd. | | | | | 3,023 | | | | | | 159,894 | | |
| REA Group Ltd. | | | | | 939 | | | | | | 112,944 | | |
| Rio Tinto Ltd. | | | | | 5,972 | | | | | | 405,002 | | |
| Rio Tinto PLC | | | | | 17,278 | | | | | | 1,080,100 | | |
| Santos Ltd. | | | | | 34,027 | | | | | | 178,393 | | |
| Scentre Group | | | | | 83,391 | | | | | | 189,158 | | |
| SEEK Ltd. | | | | | 5,300 | | | | | | 130,173 | | |
| Seven Group Holdings Ltd. | | | | | 2,747 | | | | | | 44,422 | | |
| Sonic Healthcare Ltd. | | | | | 7,711 | | | | | | 231,843 | | |
| Stockland | | | | | 35,852 | | | | | | 122,524 | | |
| Suncorp Group Ltd. | | | | | 20,938 | | | | | | 184,315 | | |
Sydney Airport* | | | | | 44,035 | | | | | | 270,882 | | |
| Telstra Corp., Ltd. | | | | | 191,179 | | | | | | 548,531 | | |
| Transurban Group | | | | | 49,392 | | | | | | 498,602 | | |
| Vicinity Centres | | | | | 60,507 | | | | | | 78,396 | | |
| Wesfarmers Ltd. | | | | | 18,283 | | | | | | 786,178 | | |
| Westpac Banking Corp. | | | | | 58,285 | | | | | | 1,123,778 | | |
| WiseTech Global Ltd. | | | | | 2,404 | | | | | | 92,232 | | |
| Woodside Petroleum Ltd. | | | | | 15,717 | | | | | | 274,585 | | |
| Total Australia | | | | | | | | | | | 16,407,853 | | |
| Austria — 0.5% | |
ams AG* | | | | | 4,260 | | | | | | 84,338 | | |
| ANDRITZ AG | | | | | 1,174 | | | | | | 66,545 | | |
| CA Immobilien Anlagen AG | | | | | 1,072 | | | | | | 45,901 | | |
| Erste Group Bank AG | | | | | 4,822 | | | | | | 207,027 | | |
| Mondi PLC | | | | | 7,938 | | | | | | 198,578 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Austria (continued) | |
| Oesterreichische Post AG | | | | | 525 | | | | | $ | 22,176 | | |
| OMV AG | | | | | 2,340 | | | | | | 141,897 | | |
| Raiffeisen Bank International AG | | | | | 2,220 | | | | | | 64,998 | | |
Telekom Austria AG* | | | | | 2,231 | | | | | | 19,312 | | |
| Verbund AG | | | | | 1,084 | | | | | | 113,027 | | |
| voestalpine AG | | | | | 1,820 | | | | | | 69,167 | | |
| Wienerberger AG | | | | | 1,832 | | | | | | 64,917 | | |
| Total Austria | | | | | | | | | | | 1,097,883 | | |
| Belgium — 0.7% | |
| D’ieteren Group | | | | | 366 | | | | | | 63,067 | | |
| Elia Group SA | | | | | 466 | | | | | | 54,413 | | |
Galapagos NV* | | | | | 692 | | | | | | 36,681 | | |
| KBC Group NV | | | | | 4,545 | | | | | | 423,721 | | |
| Proximus SADP | | | | | 2,323 | | | | | | 43,779 | | |
| Sofina SA | | | | | 249 | | | | | | 110,191 | | |
| Solvay SA | | | | | 1,157 | | | | | | 137,643 | | |
| Telenet Group Holding NV | | | | | 699 | | | | | | 25,125 | | |
| UCB SA | | | | | 1,898 | | | | | | 226,455 | | |
| Umicore SA | | | | | 3,177 | | | | | | 182,285 | | |
| Warehouses De Pauw CVA | | | | | 2,275 | | | | | | 103,730 | | |
| Total Belgium | | | | | | | | | | | 1,407,090 | | |
| Brazil — 0.1% | |
| Yara International ASA | | | | | 2,648 | | | | | | 137,983 | | |
| Chile — 0.0%(a) | |
| Antofagasta PLC | | | | | 5,656 | | | | | | 110,518 | | |
| China — 0.9% | |
| China Gas Holdings Ltd. | | | | | 36,098 | | | | | | 90,302 | | |
| CSPC Pharmaceutical Group Ltd. | | | | | 137,824 | | | | | | 144,219 | | |
| Fosun International Ltd. | | | | | 37,431 | | | | | | 44,028 | | |
| NXP Semiconductors NV | | | | | 4,457 | | | | | | 895,233 | | |
Prosus NV* | | | | | 6,840 | | | | | | 603,247 | | |
| Shimao Group Holdings Ltd. | | | | | 20,131 | | | | | | 31,675 | | |
Sun Art Retail Group Ltd.(b) | | | | | 32,052 | | | | | | 18,871 | | |
| Wharf Holdings Ltd. (The) | | | | | 22,405 | | | | | | 77,765 | | |
| Yangzijiang Shipbuilding Holdings Ltd. | | | | | 43,765 | | | | | | 46,085 | | |
| Total China | | | | | | | | | | | 1,951,425 | | |
| Colombia — 0.0%(a) | |
Millicom International Cellular SA* | | | | | 1,660 | | | | | | 58,062 | | |
| Denmark — 3.3% | |
| Ambu A/S, Class B | | | | | 2,760 | | | | | | 78,700 | | |
| AP Moller — Maersk A/S, Class A | | | | | 49 | | | | | | 134,308 | | |
| AP Moller — Maersk A/S, Class B | | | | | 56 | | | | | | 161,989 | | |
| Chr Hansen Holding A/S | | | | | 1,681 | | | | | | 133,887 | | |
| Coloplast A/S, Class B | | | | | 2,009 | | | | | | 327,835 | | |
| Danske Bank A/S | | | | | 11,070 | | | | | | 187,532 | | |
Demant A/S* | | | | | 1,611 | | | | | | 78,115 | | |
| DSV A/S | | | | | 3,574 | | | | | | 831,460 | | |
Genmab A/S* | | | | | 1,055 | | | | | | 473,313 | | |
| GN Store Nord A/S | | | | | 2,099 | | | | | | 127,507 | | |
| H Lundbeck A/S | | | | | 1,007 | | | | | | 28,025 | | |
| Novo Nordisk A/S, Class B | | | | | 26,605 | | | | | | 2,914,885 | | |
| Novozymes A/S, Class B | | | | | 3,306 | | | | | | 243,359 | | |
| Orsted A/S | | | | | 2,900 | | | | | | 409,623 | | |
| Tryg A/S | | | | | 8,082 | | | | | | 191,792 | | |
See notes to financial statements.
Schedule of Investments — IQ Candriam ESG International Equity ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Denmark (continued) | |
| Vestas Wind Systems A/S | | | | | 15,687 | | | | | $ | 679,131 | | |
| Total Denmark | | | | | | | | | | | 7,001,461 | | |
| Faroe Islands — 0.0%(a) | |
| Bakkafrost P/F | | | | | 818 | | | | | | 75,444 | | |
| Finland — 1.5% | |
| Elisa OYJ | | | | | 2,326 | | | | | | 140,456 | | |
| Huhtamaki OYJ | | | | | 1,475 | | | | | | 64,284 | | |
| Kesko OYJ, Class B | | | | | 4,327 | | | | | | 140,658 | | |
| Kone OYJ, Class B | | | | | 5,884 | | | | | | 401,474 | | |
| Metso Outotec OYJ | | | | | 11,272 | | | | | | 113,226 | | |
| Neste OYJ | | | | | 7,498 | | | | | | 418,147 | | |
Nokia OYJ* | | | | | 85,512 | | | | | | 491,825 | | |
| Nordea Bank Abp | | | | | 51,271 | | | | | | 627,391 | | |
| Orion OYJ, Class B | | | | | 1,633 | | | | | | 70,735 | | |
| Sampo OYJ, Class A | | | | | 6,889 | | | | | | 366,725 | | |
| UPM-Kymmene OYJ | | | | | 8,573 | | | | | | 302,792 | | |
| Wartsila OYJ Abp | | | | | 8,805 | | | | | | 122,224 | | |
| Total Finland | | | | | | | | | | | 3,259,937 | | |
| France — 9.0% | |
Adevinta ASA* | | | | | 4,494 | | | | | | 73,870 | | |
| Air Liquide SA | | | | | 7,682 | | | | | | 1,282,292 | | |
| Alstom SA | | | | | 6,003 | | | | | | 213,828 | | |
| Amundi SA | | | | | 985 | | | | | | 87,829 | | |
| AXA SA | | | | | 36,603 | | | | | | 1,065,747 | | |
| BioMerieux | | | | | 668 | | | | | | 85,073 | | |
| BNP Paribas SA | | | | | 18,494 | | | | | | 1,239,186 | | |
| Bouygues SA | | | | | 4,904 | | | | | | 198,630 | | |
| Capgemini SE | | | | | 2,571 | | | | | | 598,925 | | |
| Carrefour SA | | | | | 10,190 | | | | | | 184,610 | | |
| Cie de Saint-Gobain | | | | | 7,761 | | | | | | 534,933 | | |
| Cie Generale des Etablissements Michelin | | | | | 2,643 | | | | | | 415,053 | | |
| Credit Agricole SA | | | | | 24,000 | | | | | | 362,173 | | |
| Danone SA | | | | | 10,668 | | | | | | 695,671 | | |
| Dassault Systemes SE | | | | | 10,914 | | | | | | 636,310 | | |
| EssilorLuxottica SA | | | | | 4,839 | | | | | | 1,001,827 | | |
| Hermes International | | | | | 538 | | | | | | 853,274 | | |
| Kering SA | | | | | 1,184 | | | | | | 888,153 | | |
| Legrand SA | | | | | 4,261 | | | | | | 464,701 | | |
| L’Oreal SA | | | | | 3,417 | | | | | | 1,561,759 | | |
| Orange SA | | | | | 32,355 | | | | | | 353,273 | | |
| Sanofi | | | | | 17,640 | | | | | | 1,764,372 | | |
| Sartorius Stedim Biotech | | | | | 386 | | | | | | 212,718 | | |
| Societe Generale SA | | | | | 13,473 | | | | | | 449,584 | | |
Sodexo SA* | | | | | 1,283 | | | | | | 124,719 | | |
| Teleperformance | | | | | 935 | | | | | | 390,720 | | |
| TotalEnergies SE | | | | | 42,947 | | | | | | 2,155,506 | | |
| Vinci SA | | | | | 8,841 | | | | | | 945,060 | | |
| Vivendi SE | | | | | 11,023 | | | | | | 142,042 | | |
Worldline SA* | | | | | 3,690 | | | | | | 215,135 | | |
| Total France | | | | | | | | | | | 19,196,973 | | |
| Germany — 8.3% | |
| adidas AG | | | | | 2,913 | | | | | | 955,023 | | |
| Allianz SE | | | | | 6,682 | | | | | | 1,555,441 | | |
| Bayerische Motoren Werke AG | | | | | 5,181 | | | | | | 523,066 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Germany (continued) | |
| Beiersdorf AG | | | | | 1,602 | | | | | $ | 170,375 | | |
Continental AG* | | | | | 1,755 | | | | | | 206,184 | | |
| Covestro AG | | | | | 3,067 | | | | | | 196,630 | | |
Daimler AG(b) | | | | | 13,603 | | | | | | 1,349,724 | | |
Deutsche Bank AG* | | | | | 30,622 | | | | | | 394,984 | | |
| Deutsche Boerse AG | | | | | 2,975 | | | | | | 494,389 | | |
| Deutsche Post AG | | | | | 15,972 | | | | | | 989,242 | | |
| Deutsche Telekom AG | | | | | 52,615 | | | | | | 978,968 | | |
| E.ON SE | | | | | 34,586 | | | | | | 438,910 | | |
| Evonik Industries AG | | | | | 2,877 | | | | | | 93,290 | | |
Fresenius Medical Care AG & Co.
KGaA | | | | | 3,247 | | | | | | 215,911 | | |
| Fresenius SE & Co. KGaA | | | | | 6,383 | | | | | | 290,040 | | |
| Hannover Rueck SE | | | | | 982 | | | | | | 179,554 | | |
| Hapag-Lloyd AG | | | | | 399 | | | | | | 85,838 | | |
| HeidelbergCement AG | | | | | 2,415 | | | | | | 182,050 | | |
| Henkel AG & Co. KGaA | | | | | 1,653 | | | | | | 137,922 | | |
| Infineon Technologies AG | | | | | 19,498 | | | | | | 911,475 | | |
| Knorr-Bremse AG | | | | | 1,086 | | | | | | 114,542 | | |
| Merck KGaA | | | | | 2,097 | | | | | | 495,543 | | |
| Muenchener Rueckversicherungs- Gesellschaft AG | | | | | 2,272 | | | | | | 673,619 | | |
| SAP SE | | | | | 16,377 | | | | | | 2,375,099 | | |
| Siemens AG | | | | | 13,132 | | | | | | 2,131,835 | | |
Siemens Energy AG* | | | | | 6,537 | | | | | | 187,762 | | |
| Symrise AG | | | | | 2,027 | | | | | | 280,434 | | |
| Talanx AG | | | | | 865 | | | | | | 41,642 | | |
| Telefonica Deutschland Holding AG | | | | | 12,835 | | | | | | 33,464 | | |
| Volkswagen AG | | | | | 464 | | | | | | 150,779 | | |
| Vonovia SE | | | | | 9,358 | | | | | | 568,118 | | |
Zalando SE* | | | | | 3,630 | | | | | | 342,703 | | |
| Total Germany | | | | | | | | | | | 17,744,556 | | |
| Hong Kong — 2.7% | |
| AIA Group Ltd. | | | | | 196,633 | | | | | | 2,220,607 | | |
| ASM Pacific Technology Ltd. | | | | | 4,996 | | | | | | 53,980 | | |
| Bank of East Asia Ltd. (The) | | | | | 22,451 | | | | | | 36,942 | | |
| CK Infrastructure Holdings Ltd. | | | | | 9,930 | | | | | | 59,868 | | |
| Hang Lung Properties Ltd. | | | | | 29,896 | | | | | | 69,407 | | |
| Hang Seng Bank Ltd. | | | | | 11,840 | | | | | | 225,261 | | |
| Hong Kong & China Gas Co., Ltd. | | | | | 177,483 | | | | | | 276,068 | | |
| Hong Kong Exchanges & Clearing Ltd. | | | | | 20,560 | | | | | | 1,244,323 | | |
| Link REIT | | | | | 34,014 | | | | | | 301,703 | | |
| MTR Corp., Ltd. | | | | | 25,259 | | | | | | 137,675 | | |
| New World Development Co., Ltd. | | | | | 22,807 | | | | | | 98,950 | | |
| Power Assets Holdings Ltd. | | | | | 22,354 | | | | | | 136,353 | | |
| Sino Biopharmaceutical Ltd. | | | | | 161,956 | | | | | | 119,920 | | |
| Swire Pacific Ltd., Class A | | | | | 7,979 | | | | | | 50,208 | | |
| Swire Pacific Ltd., Class B | | | | | 14,140 | | | | | | 14,869 | | |
| Swire Properties Ltd. | | | | | 17,212 | | | | | | 46,133 | | |
| Techtronic Industries Co., Ltd. | | | | | 22,206 | | | | | | 457,020 | | |
| Wharf Real Estate Investment Co., Ltd. | | | | | 24,087 | | | | | | 135,932 | | |
| Total Hong Kong | | | | | | | | | | | 5,685,219 | | |
| Ireland — 0.7% | |
AIB Group PLC* | | | | | 12,822 | | | | | | 34,781 | | |
| CRH PLC | | | | | 12,689 | | | | | | 609,814 | | |
| Kerry Group PLC, Class A | | | | | 2,525 | | | | | | 339,251 | | |
| Kingspan Group PLC | | | | | 2,468 | | | | | | 284,581 | | |
See notes to financial statements.
Schedule of Investments — IQ Candriam ESG International Equity ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Ireland (continued) | |
| Smurfit Kappa Group PLC | | | | | 4,212 | | | | | $ | 221,417 | | |
| Total Ireland | | | | | | | | | | | 1,489,844 | | |
| Israel — 0.5% | |
| Bank Hapoalim BM | | | | | 17,578 | | | | | | 173,171 | | |
| Bank Leumi Le-Israel BM | | | | | 21,671 | | | | | | 207,110 | | |
Check Point Software Technologies
Ltd.* | | | | | 1,602 | | | | | | 191,599 | | |
Nice Ltd.* | | | | | 946 | | | | | | 266,763 | | |
Wix.com Ltd.* | | | | | 872 | | | | | | 162,157 | | |
| Total Israel | | | | | | | | | | | 1,000,800 | | |
| Italy — 2.4% | |
| A2A SpA | | | | | 25,618 | | | | | | 53,897 | | |
| Amplifon SpA | | | | | 2,021 | | | | | | 102,790 | | |
Assicurazioni Generali SpA(b) | | | | | 18,933 | | | | | | 413,007 | | |
| Banca Mediolanum SpA | | | | | 3,475 | | | | | | 35,011 | | |
| Buzzi Unicem SpA | | | | | 1,732 | | | | | | 40,428 | | |
| DiaSorin SpA | | | | | 185 | | | | | | 41,823 | | |
| Enel SpA | | | | | 126,064 | | | | | | 1,055,642 | | |
| Eni SpA | | | | | 39,622 | | | | | | 568,755 | | |
FinecoBank Banca Fineco SpA* | | | | | 9,965 | | | | | | 190,451 | | |
| Hera SpA | | | | | 13,898 | | | | | | 56,887 | | |
| Intesa Sanpaolo SpA | | | | | 278,303 | | | | | | 791,477 | | |
Mediobanca Banca di Credito Finanziario SpA* | | | | | 11,533 | | | | | | 137,670 | | |
| Moncler SpA | | | | | 3,445 | | | | | | 247,655 | | |
Nexi SpA* | | | | | 14,750 | | | | | | 256,468 | | |
| Pirelli & C SpA | | | | | 6,391 | | | | | | 39,288 | | |
| Prysmian SpA | | | | | 4,012 | | | | | | 151,822 | | |
| Recordati Industria Chimica e Farmaceutica SpA | | | | | 1,547 | | | | | | 96,889 | | |
| Telecom Italia SpA | | | | | 163,257 | | | | | | 58,209 | | |
| Telecom Italia SpA-RSP | | | | | 98,573 | | | | | | 37,473 | | |
| Terna — Rete Elettrica Nazionale | | | | | 23,061 | | | | | | 171,920 | | |
| UniCredit SpA | | | | | 33,848 | | | | | | 447,485 | | |
| UnipolSai Assicurazioni SpA | | | | | 7,198 | | | | | | 20,858 | | |
| Total Italy | | | | | | | | | | | 5,015,905 | | |
| Japan — 22.5% | |
| ABC-Mart, Inc. | | | | | 511 | | | | | | 24,424 | | |
| Advantest Corp. | | | | | 3,172 | | | | | | 259,546 | | |
| Aeon Co., Ltd. | | | | | 10,987 | | | | | | 252,260 | | |
| Aeon Mall Co., Ltd. | | | | | 1,555 | | | | | | 22,665 | | |
| Air Water, Inc. | | | | | 3,081 | | | | | | 47,069 | | |
| Ajinomoto Co., Inc. | | | | | 8,816 | | | | | | 263,340 | | |
| Alfresa Holdings Corp. | | | | | 2,866 | | | | | | 40,216 | | |
| Asahi Intecc Co., Ltd. | | | | | 3,360 | | | | | | 88,372 | | |
| Astellas Pharma, Inc. | | | | | 29,833 | | | | | | 501,555 | | |
| Benesse Holdings, Inc. | | | | | 1,252 | | | | | | 28,548 | | |
| Bridgestone Corp. | | | | | 9,281 | | | | | | 408,519 | | |
| Brother Industries Ltd. | | | | | 4,024 | | | | | | 77,569 | | |
| Canon, Inc. | | | | | 16,561 | | | | | | 371,524 | | |
| Central Japan Railway Co. | | | | | 2,761 | | | | | | 409,216 | | |
| Chugai Pharmaceutical Co., Ltd. | | | | | 10,226 | | | | | | 380,880 | | |
| CyberAgent, Inc. | | | | | 6,554 | | | | | | 109,209 | | |
| Dai Nippon Printing Co., Ltd. | | | | | 3,690 | | | | | | 90,935 | | |
| Daifuku Co., Ltd. | | | | | 1,841 | | | | | | 168,721 | | |
| Daiichi Sankyo Co., Ltd. | | | | | 30,467 | | | | | | 766,050 | | |
| Daikin Industries Ltd. | | | | | 4,249 | | | | | | 927,495 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Japan (continued) | |
| Daito Trust Construction Co., Ltd. | | | | | 1,043 | | | | | $ | 129,157 | | |
| Daiwa House Industry Co., Ltd. | | | | | 9,712 | | | | | | 319,489 | | |
| Daiwa House REIT Investment Corp. | | | | | 33 | | | | | | 94,637 | | |
| Daiwa Securities Group, Inc. | | | | | 23,367 | | | | | | 130,888 | | |
| Denso Corp. | | | | | 7,129 | | | | | | 514,113 | | |
| Dentsu Group, Inc. | | | | | 3,508 | | | | | | 128,291 | | |
| Disco Corp. | | | | | 457 | | | | | | 122,642 | | |
| East Japan Railway Co. | | | | | 5,220 | | | | | | 324,485 | | |
| Eisai Co., Ltd. | | | | | 4,392 | | | | | | 309,183 | | |
| ENEOS Holdings, Inc. | | | | | 50,732 | | | | | | 204,485 | | |
| FANUC Corp. | | | | | 3,089 | | | | | | 604,390 | | |
| Fast Retailing Co., Ltd. | | | | | 883 | | | | | | 584,743 | | |
| FUJIFILM Holdings Corp. | | | | | 6,103 | | | | | | 471,059 | | |
| Fujitsu Ltd. | | | | | 2,987 | | | | | | 514,097 | | |
| GMO Payment Gateway, Inc. | | | | | 690 | | | | | | 87,381 | | |
| Hakuhodo DY Holdings, Inc. | | | | | 3,579 | | | | | | 58,319 | | |
| Hamamatsu Photonics K.K. | | | | | 2,290 | | | | | | 135,362 | | |
| Hikari Tsushin, Inc. | | | | | 320 | | | | | | 49,252 | | |
| Hirose Electric Co., Ltd. | | | | | 503 | | | | | | 83,771 | | |
| Hisamitsu Pharmaceutical Co., Inc. | | | | | 1,101 | | | | | | 37,368 | | |
Hitachi Construction Machinery Co.,
Ltd. | | | | | 1,677 | | | | | | 53,314 | | |
| Hitachi Ltd. | | | | | 15,283 | | | | | | 878,446 | | |
Hitachi Metals Ltd.* | | | | | 3,229 | | | | | | 61,083 | | |
| Hoshizaki Corp. | | | | | 894 | | | | | | 74,954 | | |
| Hoya Corp. | | | | | 5,898 | | | | | | 865,109 | | |
| Hulic Co., Ltd. | | | | | 5,314 | | | | | | 50,938 | | |
| Idemitsu Kosan Co., Ltd. | | | | | 3,244 | | | | | | 88,621 | | |
| Inpex Corp. | | | | | 16,038 | | | | | | 133,902 | | |
Isetan Mitsukoshi Holdings Ltd.(b) | | | | | 5,381 | | | | | | 39,169 | | |
| Isuzu Motors Ltd. | | | | | 9,164 | | | | | | 122,883 | | |
| ITOCHU Corp. | | | | | 23,817 | | | | | | 677,174 | | |
| Itochu Techno-Solutions Corp. | | | | | 1,510 | | | | | | 47,541 | | |
| J Front Retailing Co., Ltd. | | | | | 3,976 | | | | | | 36,648 | | |
| Japan Metropolitan Fund Invest. | | | | | 113 | | | | | | 103,561 | | |
Japan Post Holdings Co., Ltd.* | | | | | 18,314 | | | | | | 140,537 | | |
| Japan Real Estate Investment Corp. | | | | | 20 | | | | | | 122,429 | | |
| JFE Holdings, Inc. | | | | | 7,878 | | | | | | 120,424 | | |
| JTEKT Corp. | | | | | 3,702 | | | | | | 32,564 | | |
| Kajima Corp. | | | | | 7,212 | | | | | | 88,549 | | |
| Kakaku.com, Inc. | | | | | 2,098 | | | | | | 69,274 | | |
| Kansai Electric Power Co., Inc. (The) | | | | | 11,985 | | | | | | 110,154 | | |
| Kao Corp. | | | | | 7,566 | | | | | | 426,722 | | |
| KDDI Corp. | | | | | 25,082 | | | | | | 776,052 | | |
| Keihan Holdings Co., Ltd. | | | | | 1,658 | | | | | | 43,448 | | |
| Keikyu Corp. | | | | | 3,756 | | | | | | 42,229 | | |
| Keio Corp. | | | | | 1,786 | | | | | | 89,907 | | |
| Keisei Electric Railway Co., Ltd. | | | | | 2,424 | | | | | | 77,700 | | |
| Kikkoman Corp. | | | | | 2,377 | | | | | | 194,288 | | |
Kintetsu Group Holdings Co., Ltd.* | | | | | 2,957 | | | | | | 92,710 | | |
| Kobayashi Pharmaceutical Co., Ltd. | | | | | 807 | | | | | | 64,475 | | |
| Koito Manufacturing Co., Ltd. | | | | | 1,936 | | | | | | 109,343 | | |
| Kose Corp. | | | | | 504 | | | | | | 58,301 | | |
| Kubota Corp. | | | | | 18,743 | | | | | | 398,201 | | |
| Kuraray Co., Ltd. | | | | | 5,418 | | | | | | 48,941 | | |
| Kurita Water Industries Ltd. | | | | | 1,782 | | | | | | 87,518 | | |
| Kyocera Corp. | | | | | 5,296 | | | | | | 309,098 | | |
| Kyowa Kirin Co., Ltd. | | | | | 4,025 | | | | | | 132,019 | | |
| Kyushu Railway Co. | | | | | 2,236 | | | | | | 49,926 | | |
See notes to financial statements.
Schedule of Investments — IQ Candriam ESG International Equity ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Japan (continued) | |
| Lasertec Corp. | | | | | 1,244 | | | | | $ | 273,074 | | |
| Lion Corp. | | | | | 4,078 | | | | | | 67,773 | | |
| Lixil Corp. | | | | | 4,467 | | | | | | 114,549 | | |
| Marubeni Corp. | | | | | 27,483 | | | | | | 231,674 | | |
| Marui Group Co., Ltd. | | | | | 3,220 | | | | | | 62,946 | | |
Mazda Motor Corp.* | | | | | 9,385 | | | | | | 83,870 | | |
| Medipal Holdings Corp. | | | | | 2,795 | | | | | | 50,372 | | |
| MEIJI Holdings Co., Ltd. | | | | | 2,101 | | | | | | 132,481 | | |
| MINEBEA MITSUMI, Inc. | | | | | 6,226 | | | | | | 156,981 | | |
| MISUMI Group, Inc. | | | | | 4,567 | | | | | | 190,650 | | |
| Mitsubishi Chemical Holdings Corp. | | | | | 22,591 | | | | | | 186,771 | | |
| Mitsubishi Corp. | | | | | 21,983 | | | | | | 696,361 | | |
| Mitsubishi Estate Co., Ltd. | | | | | 19,289 | | | | | | 292,317 | | |
| Mitsubishi Gas Chemical Co., Inc. | | | | | 3,076 | | | | | | 61,857 | | |
| Mitsubishi Materials Corp. | | | | | 1,920 | | | | | | 37,146 | | |
| Mitsui & Co., Ltd. | | | | | 24,407 | | | | | | 554,816 | | |
| Mitsui Chemicals, Inc. | | | | | 2,865 | | | | | | 84,926 | | |
| Mitsui Fudosan Co., Ltd. | | | | | 14,423 | | | | | | 328,684 | | |
| Miura Co., Ltd. | | | | | 1,570 | | | | | | 60,101 | | |
| Mizuho Financial Group, Inc. | | | | | 37,808 | | | | | | 499,022 | | |
| MonotaRO Co., Ltd. | | | | | 3,959 | | | | | | 89,579 | | |
MS&AD Insurance Group Holdings,
Inc. | | | | | 7,552 | | | | | | 244,128 | | |
Nabtesco Corp.(b) | | | | | 1,734 | | | | | | 56,115 | | |
Nagoya Railroad Co., Ltd.* | | | | | 3,148 | | | | | | 51,848 | | |
| NEC Corp. | | | | | 4,078 | | | | | | 208,147 | | |
| NGK Insulators Ltd. | | | | | 4,992 | | | | | | 82,832 | | |
| NGK Spark Plug Co., Ltd. | | | | | 3,092 | | | | | | 49,136 | | |
| NH Foods Ltd. | | | | | 1,653 | | | | | | 58,060 | | |
| Nidec Corp. | | | | | 8,162 | | | | | | 899,771 | | |
| Nikon Corp. | | | | | 5,199 | | | | | | 56,948 | | |
| Nintendo Co., Ltd. | | | | | 1,901 | | | | | | 836,923 | | |
| Nippon Building Fund, Inc. | | | | | 26 | | | | | | 168,735 | | |
| Nippon Prologis REIT, Inc. | | | | | 34 | | | | | | 113,458 | | |
| Nippon Sanso Holdings Corp. | | | | | 2,813 | | | | | | 66,239 | | |
| Nippon Telegraph & Telephone Corp. | | | | | 36,910 | | | | | | 1,031,959 | | |
| Nippon Yusen K.K. | | | | | 2,623 | | | | | | 188,170 | | |
| Nissan Chemical Corp. | | | | | 2,054 | | | | | | 114,026 | | |
Nissan Motor Co., Ltd.* | | | | | 35,985 | | | | | | 182,221 | | |
| Nisshin Seifun Group, Inc. | | | | | 3,943 | | | | | | 62,210 | | |
| Nissin Foods Holdings Co., Ltd. | | | | | 1,124 | | | | | | 85,859 | | |
| Nitto Denko Corp. | | | | | 2,385 | | | | | | 185,738 | | |
| Nomura Holdings, Inc. | | | | | 49,084 | | | | | | 236,757 | | |
| Nomura Real Estate Holdings, Inc. | | | | | 1,644 | | | | | | 39,923 | | |
| Nomura Real Estate Master Fund, Inc. | | | | | 65 | | | | | | 97,308 | | |
| Nomura Research Institute Ltd. | | | | | 6,207 | | | | | | 247,137 | | |
| NTT Data Corp. | | | | | 10,257 | | | | | | 205,365 | | |
| Obayashi Corp. | | | | | 10,158 | | | | | | 85,344 | | |
| Odakyu Electric Railway Co., Ltd. | | | | | 5,541 | | | | | | 119,689 | | |
| Oji Holdings Corp. | | | | | 13,857 | | | | | | 68,541 | | |
| Omron Corp. | | | | | 3,116 | | | | | | 297,048 | | |
| Ono Pharmaceutical Co., Ltd. | | | | | 6,501 | | | | | | 136,006 | | |
| Oriental Land Co., Ltd. | | | | | 3,223 | | | | | | 507,087 | | |
| ORIX Corp. | | | | | 19,635 | | | | | | 388,309 | | |
| Orix JREIT, Inc. | | | | | 45 | | | | | | 74,549 | | |
Pan Pacific International Holdings
Corp. | | | | | 6,773 | | | | | | 141,727 | | |
| Panasonic Corp. | | | | | 34,819 | | | | | | 425,218 | | |
PeptiDream, Inc.* | | | | | 1,537 | | | | | | 37,109 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Japan (continued) | |
| Persol Holdings Co., Ltd. | | | | | 2,881 | | | | | $ | 77,062 | | |
| Pigeon Corp. | | | | | 1,872 | | | | | | 43,293 | | |
| Pola Orbis Holdings, Inc. | | | | | 1,351 | | | | | | 28,791 | | |
| Rakuten Group, Inc. | | | | | 14,187 | | | | | | 155,525 | | |
| Recruit Holdings Co., Ltd. | | | | | 22,273 | | | | | | 1,479,072 | | |
| Resona Holdings, Inc. | | | | | 38,495 | | | | | | 144,493 | | |
| Ricoh Co., Ltd. | | | | | 10,824 | | | | | | 104,989 | | |
| Rinnai Corp. | | | | | 573 | | | | | | 58,594 | | |
| Rohm Co., Ltd. | | | | | 1,387 | | | | | | 126,262 | | |
| Ryohin Keikaku Co., Ltd. | | | | | 3,956 | | | | | | 77,645 | | |
| Santen Pharmaceutical Co., Ltd. | | | | | 6,119 | | | | | | 85,916 | | |
| SBI Holdings, Inc. | | | | | 3,904 | | | | | | 100,728 | | |
| SCSK Corp. | | | | | 2,345 | | | | | | 47,301 | | |
| Secom Co., Ltd. | | | | | 3,424 | | | | | | 232,391 | | |
| Seiko Epson Corp. | | | | | 4,662 | | | | | | 82,835 | | |
| Sekisui Chemical Co., Ltd. | | | | | 6,497 | | | | | | 106,265 | | |
| Sekisui House Ltd. | | | | | 9,657 | | | | | | 200,000 | | |
| Seven Bank Ltd. | | | | | 9,805 | | | | | | 20,724 | | |
| SG Holdings Co., Ltd. | | | | | 6,931 | | | | | | 173,237 | | |
| Sharp Corp. | | | | | 4,645 | | | | | | 54,628 | | |
| Shimadzu Corp. | | | | | 4,584 | | | | | | 185,531 | | |
| Shimano, Inc. | | | | | 1,305 | | | | | | 361,429 | | |
| Shimizu Corp. | | | | | 9,473 | | | | | | 69,204 | | |
| Shionogi & Co., Ltd. | | | | | 4,801 | | | | | | 311,870 | | |
| Shiseido Co., Ltd. | | | | | 6,422 | | | | | | 426,631 | | |
| Shizuoka Bank Ltd. (The) | | | | | 8,334 | | | | | | 67,023 | | |
| SMC Corp. | | | | | 1,007 | | | | | | 600,005 | | |
| Sohgo Security Services Co., Ltd. | | | | | 1,153 | | | | | | 49,143 | | |
| Sompo Holdings, Inc. | | | | | 5,221 | | | | | | 226,560 | | |
| Sony Group Corp. | | | | | 20,115 | | | | | | 2,318,010 | | |
| Square Enix Holdings Co., Ltd. | | | | | 1,448 | | | | | | 79,115 | | |
| Stanley Electric Co., Ltd. | | | | | 2,385 | | | | | | 59,947 | | |
| Sumitomo Chemical Co., Ltd. | | | | | 25,988 | | | | | | 127,632 | | |
| Sumitomo Corp. | | | | | 18,968 | | | | | | 268,987 | | |
Sumitomo Dainippon Pharma Co.,
Ltd. | | | | | 2,733 | | | | | | 38,517 | | |
| Sumitomo Heavy Industries Ltd. | | | | | 1,870 | | | | | | 48,052 | | |
| Sumitomo Metal Mining Co., Ltd. | | | | | 3,938 | | | | | | 152,754 | | |
| Sumitomo Mitsui Financial Group, Inc. | | | | | 20,888 | | | | | | 681,642 | | |
| Sumitomo Mitsui Trust Holdings, Inc. | | | | | 4,771 | | | | | | 157,074 | | |
| Sumitomo Rubber Industries Ltd. | | | | | 2,904 | | | | | | 35,681 | | |
| Sundrug Co., Ltd. | | | | | 1,103 | | | | | | 32,260 | | |
| Suntory Beverage & Food Ltd. | | | | | 2,034 | | | | | | 78,756 | | |
| Suzuken Co., Ltd. | | | | | 1,022 | | | | | | 28,323 | | |
| Sysmex Corp. | | | | | 2,466 | | | | | | 304,290 | | |
| T&D Holdings, Inc. | | | | | 8,037 | | | | | | 103,048 | | |
| Taiheiyo Cement Corp. | | | | | 1,895 | | | | | | 40,069 | | |
| Taisei Corp. | | | | | 3,052 | | | | | | 95,555 | | |
| Takeda Pharmaceutical Co., Ltd. | | | | | 25,254 | | | | | | 709,393 | | |
| TDK Corp. | | | | | 6,185 | | | | | | 224,021 | | |
| Teijin Ltd. | | | | | 2,949 | | | | | | 39,544 | | |
| Terumo Corp. | | | | | 11,546 | | | | | | 508,115 | | |
| Tobu Railway Co., Ltd. | | | | | 3,173 | | | | | | 78,779 | | |
| Toho Gas Co., Ltd. | | | | | 1,461 | | | | | | 43,180 | | |
| Tokyo Century Corp. | | | | | 583 | | | | | | 33,234 | | |
| Tokyo Electron Ltd. | | | | | 2,410 | | | | | | 1,117,023 | | |
| Tokyu Corp. | | | | | 9,685 | | | | | | 136,070 | | |
| Tokyu Fudosan Holdings Corp. | | | | | 9,857 | | | | | | 56,968 | | |
| TOPPAN, Inc. | | | | | 4,551 | | | | | | 73,159 | | |
See notes to financial statements.
Schedule of Investments — IQ Candriam ESG International Equity ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Japan (continued) | |
| Toshiba Corp. | | | | | 6,845 | | | | | $ | 294,751 | | |
| TOTO Ltd. | | | | | 2,528 | | | | | | 121,938 | | |
| Toyoda Gosei Co., Ltd. | | | | | 1,114 | | | | | | 22,676 | | |
| Toyota Industries Corp. | | | | | 2,515 | | | | | | 213,066 | | |
| Toyota Motor Corp. | | | | | 182,408 | | | | | | 3,209,837 | | |
| Trend Micro, Inc. | | | | | 2,150 | | | | | | 121,241 | | |
| Tsuruha Holdings, Inc. | | | | | 610 | | | | | | 75,163 | | |
| Unicharm Corp. | | | | | 6,465 | | | | | | 260,358 | | |
| United Urban Investment Corp. | | | | | 46 | | | | | | 57,286 | | |
| Welcia Holdings Co., Ltd. | | | | | 1,536 | | | | | | 57,318 | | |
| West Japan Railway Co. | | | | | 2,678 | | | | | | 125,956 | | |
| Yakult Honsha Co., Ltd. | | | | | 2,086 | | | | | | 105,009 | | |
| Yamada Holdings Co., Ltd. | | | | | 11,191 | | | | | | 42,693 | | |
| Yamaha Corp. | | | | | 2,698 | | | | | | 169,889 | | |
| Yamaha Motor Co., Ltd. | | | | | 4,780 | | | | | | 132,679 | | |
| Yamato Holdings Co., Ltd. | | | | | 5,206 | | | | | | 127,702 | | |
| Yaskawa Electric Corp. | | | | | 4,073 | | | | | | 175,744 | | |
| Yokohama Rubber Co., Ltd. (The) | | | | | 2,179 | | | | | | 36,729 | | |
| Total Japan | | | | | | | | | | | 47,881,347 | | |
| Luxembourg — 0.3% | |
| ArcelorMittal SA | | | | | 11,501 | | | | | | 390,302 | | |
| Eurofins Scientific SE | | | | | 2,056 | | | | | | 242,546 | | |
| Total Luxembourg | | | | | | | | | | | 632,848 | | |
| Mexico — 0.0%(a) | |
| Fresnillo PLC | | | | | 3,009 | | | | | | 35,603 | | |
| Netherlands — 6.4% | |
| ABN AMRO Bank NV | | | | | 7,212 | | | | | | 106,212 | | |
Adyen NV* | | | | | 416 | | | | | | 1,256,736 | | |
| Akzo Nobel NV | | | | | 2,756 | | | | | | 317,088 | | |
| ASML Holding NV | | | | | 6,721 | | | | | | 5,448,400 | | |
| ING Groep NV | | | | | 63,349 | | | | | | 961,835 | | |
| Koninklijke DSM NV | | | | | 2,782 | | | | | | 608,640 | | |
| Koninklijke KPN NV | | | | | 53,630 | | | | | | 160,434 | | |
| Koninklijke Philips NV | | | | | 14,739 | | | | | | 694,634 | | |
| NN Group NV | | | | | 4,513 | | | | | | 241,914 | | |
| Randstad NV | | | | | 1,899 | | | | | | 136,692 | | |
| Royal Dutch Shell PLC, Class A | | | | | 66,537 | | | | | | 1,533,165 | | |
| Royal Dutch Shell PLC, Class B | | | | | 60,138 | | | | | | 1,389,015 | | |
| Universal Music Group NV | | | | | 11,023 | | | | | | 320,376 | | |
| Wolters Kluwer NV | | | | | 4,284 | | | | | | 449,362 | | |
| Total Netherlands | | | | | | | | | | | 13,624,503 | | |
| New Zealand — 0.4% | |
a2 Milk Co., Ltd. (The)* | | | | | 12,076 | | | | | | 56,779 | | |
Auckland International Airport Ltd.* | | | | | 19,719 | | | | | | 112,754 | | |
| Chorus Ltd. | | | | | 7,304 | | | | | | 33,297 | | |
| Fisher & Paykel Healthcare Corp., Ltd. | | | | | 9,383 | | | | | | 209,574 | | |
| Fletcher Building Ltd. | | | | | 12,464 | | | | | | 63,955 | | |
| Mercury NZ Ltd. | | | | | 9,938 | | | | | | 43,633 | | |
| Meridian Energy Ltd. | | | | | 18,674 | | | | | | 66,687 | | |
| Ryman Healthcare Ltd. | | | | | 6,236 | | | | | | 64,487 | | |
| Spark New Zealand Ltd. | | | | | 30,228 | | | | | | 98,753 | | |
| Total New Zealand | | | | | | | | | | | 749,919 | | |
| Norway — 1.0% | |
| Aker ASA, Class A | | | | | 370 | | | | | | 33,985 | | |
| Austevoll Seafood ASA | | | | | 1,415 | | | | | | 19,086 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Norway (continued) | |
| DNB Bank ASA | | | | | 14,317 | | | | | $ | 339,845 | | |
| Entra ASA | | | | | 1,674 | | | | | | 41,715 | | |
| Equinor ASA | | | | | 17,195 | | | | | | 434,484 | | |
| Gjensidige Forsikring ASA | | | | | 3,023 | | | | | | 75,081 | | |
Kahoot! ASA* | | | | | 5,987 | | | | | | 35,599 | | |
| Leroy Seafood Group ASA | | | | | 4,614 | | | | | | 41,889 | | |
| Mowi ASA | | | | | 7,290 | | | | | | 210,790 | | |
NEL ASA*(b) | | | | | 23,654 | | | | | | 49,856 | | |
Nordic Semiconductor ASA* | | | | | 2,686 | | | | | | 79,380 | | |
| Norsk Hydro ASA | | | | | 21,818 | | | | | | 159,599 | | |
| Orkla ASA | | | | | 12,129 | | | | | | 117,802 | | |
| Schibsted ASA, Class A | | | | | 1,136 | | | | | | 58,510 | | |
| Schibsted ASA, Class B | | | | | 1,498 | | | | | | 67,540 | | |
| SpareBank 1 SR-Bank ASA | | | | | 2,924 | | | | | | 44,728 | | |
| Storebrand ASA | | | | | 7,445 | | | | | | 79,684 | | |
| Telenor ASA | | | | | 10,442 | | | | | | 164,605 | | |
| TGS ASA | | | | | 1,893 | | | | | | 17,392 | | |
| TOMRA Systems ASA | | | | | 1,901 | | | | | | 122,519 | | |
| Total Norway | | | | | | | | | | | 2,194,089 | | |
| Poland — 0.4% | |
| Bank Polska Kasa Opieki SA | | | | | 2,622 | | | | | | 86,651 | | |
| CD Projekt SA | | | | | 1,123 | | | | | | 48,980 | | |
| Cyfrowy Polsat SA | | | | | 3,240 | | | | | | 28,997 | | |
Dino Polska SA* | | | | | 790 | | | | | | 70,625 | | |
| KGHM Polska Miedz SA | | | | | 2,234 | | | | | | 85,961 | | |
mBank SA* | | | | | 219 | | | | | | 31,010 | | |
| Polski Koncern Naftowy ORLEN SA | | | | | 5,071 | | | | | | 109,468 | | |
| Polskie Gornictwo Naftowe i Gazownictwo SA | | | | | 26,576 | | | | | | 40,104 | | |
Powszechna Kasa Oszczednosci Bank Polski SA* | | | | | 14,428 | | | | | | 176,611 | | |
| Powszechny Zaklad Ubezpieczen SA | | | | | 9,297 | | | | | | 93,048 | | |
| Santander Bank Polska SA | | | | | 546 | | | | | | 50,743 | | |
| Total Poland | | | | | | | | | | | 822,198 | | |
| Portugal — 0.2% | |
| EDP — Energias de Portugal SA | | | | | 44,940 | | | | | | 254,001 | | |
| Jeronimo Martins SGPS SA | | | | | 3,992 | | | | | | 90,547 | | |
| Total Portugal | | | | | | | | | | | 344,548 | | |
| Singapore — 1.3% | |
Ascendas Real Estate Investment
Trust | | | | | 53,884 | | | | | | 123,472 | | |
| CapitaLand Integrated Commercial Trust | | | | | 79,442 | | | | | | 126,659 | | |
| City Developments Ltd. | | | | | 9,317 | | | | | | 50,575 | | |
| ComfortDelGro Corp., Ltd. | | | | | 35,326 | | | | | | 40,867 | | |
| DBS Group Holdings Ltd. | | | | | 29,186 | | | | | | 682,414 | | |
| Jardine Cycle & Carriage Ltd. | | | | | 1,553 | | | | | | 25,912 | | |
| Keppel Corp., Ltd. | | | | | 23,505 | | | | | | 93,776 | | |
| Mapletree Commercial Trust | | | | | 36,503 | | | | | | 59,011 | | |
| Olam International Ltd. | | | | | 14,288 | | | | | | 18,012 | | |
| Oversea-Chinese Banking Corp., Ltd. | | | | | 65,012 | | | | | | 568,885 | | |
SATS Ltd.* | | | | | 10,921 | | | | | | 33,933 | | |
| Singapore Telecommunications Ltd. | | | | | 129,490 | | | | | | 240,063 | | |
| Suntec Real Estate Investment Trust | | | | | 26,247 | | | | | | 29,001 | | |
| United Overseas Bank Ltd. | | | | | 25,359 | | | | | | 503,043 | | |
| UOL Group Ltd. | | | | | 8,712 | | | | | | 46,710 | | |
See notes to financial statements.
Schedule of Investments — IQ Candriam ESG International Equity ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Singapore (continued) | |
| Venture Corp., Ltd. | | | | | 4,412 | | | | | $ | 61,542 | | |
| Total Singapore | | | | | | | | | | | 2,703,875 | | |
| South Africa — 0.4% | |
| Anglo American PLC | | | | | 18,826 | | | | | | 718,045 | | |
| Scatec ASA | | | | | 1,855 | | | | | | 36,423 | | |
| Total South Africa | | | | | | | | | | | 754,468 | | |
| Spain — 3.1% | |
| ACS Actividades de Construccion y Servicios SA | | | | | 3,786 | | | | | | 99,150 | | |
Aena SME SA* | | | | | 1,109 | | | | | | 181,792 | | |
Amadeus IT Group SA* | | | | | 7,295 | | | | | | 488,293 | | |
| Banco Bilbao Vizcaya Argentaria SA | | | | | 107,188 | | | | | | 751,950 | | |
| Banco Santander SA | | | | | 278,426 | | | | | | 1,055,716 | | |
| CaixaBank SA | | | | | 70,282 | | | | | | 202,114 | | |
Cellnex Telecom SA* | | | | | 9,252 | | | | | | 569,391 | | |
| EDP Renovaveis SA | | | | | 3,901 | | | | | | 108,798 | | |
| Ferrovial SA | | | | | 7,620 | | | | | | 240,385 | | |
Grifols SA(b) | | | | | 4,812 | | | | | | 110,232 | | |
| Iberdrola SA | | | | | 98,864 | | | | | | 1,168,701 | | |
Industria de Diseno Textil SA(b) | | | | | 17,992 | | | | | | 650,455 | | |
Mapfre SA(b) | | | | | 15,683 | | | | | | 33,222 | | |
| Red Electrica Corp. SA | | | | | 6,897 | | | | | | 143,748 | | |
| Repsol SA | | | | | 21,305 | | | | | | 272,588 | | |
Siemens Gamesa Renewable Energy SA* | | | | | 3,644 | | | | | | 98,805 | | |
| Telefonica SA | | | | | 82,151 | | | | | | 357,888 | | |
| Total Spain | | | | | | | | | | | 6,533,228 | | |
| Sweden — 3.8% | |
| AAK AB | | | | | 2,816 | | | | | | 61,543 | | |
| Alfa Laval AB | | | | | 4,850 | | | | | | 207,643 | | |
| Assa Abloy AB, B Shares | | | | | 15,778 | | | | | | 462,033 | | |
Atlas Copco AB, A Shares(b) | | | | | 10,245 | | | | | | 658,228 | | |
Atlas Copco AB, B Shares(b) | | | | | 6,047 | | | | | | 327,046 | | |
| Avanza Bank Holding AB | | | | | 1,752 | | | | | | 69,541 | | |
| Axfood AB | | | | | 1,711 | | | | | | 41,936 | | |
| Beijer Ref AB | | | | | 3,583 | | | | | | 73,591 | | |
| Boliden AB | | | | | 4,390 | | | | | | 154,827 | | |
Castellum AB(b) | | | | | 3,398 | | | | | | 90,365 | | |
Electrolux AB, B Shares(b) | | | | | 4,086 | | | | | | 92,724 | | |
Elekta AB, B Shares(b) | | | | | 5,887 | | | | | | 68,353 | | |
| EQT AB | | | | | 5,119 | | | | | | 269,763 | | |
| Essity AB, B Shares | | | | | 9,787 | | | | | | 316,566 | | |
| Fabege AB | | | | | 4,361 | | | | | | 73,728 | | |
Fastighets AB Balder, B Shares* | | | | | 1,615 | | | | | | 117,000 | | |
H & M Hennes & Mauritz AB, B
Shares(b) | | | | | 11,583 | | | | | | 217,162 | | |
| Hexagon AB, B Shares | | | | | 31,737 | | | | | | 509,950 | | |
| Holmen AB, B Shares | | | | | 1,436 | | | | | | 63,670 | | |
| Husqvarna AB, B Shares | | | | | 6,509 | | | | | | 92,574 | | |
| ICA Gruppen AB | | | | | 1,409 | | | | | | 72,841 | | |
Industrivarden AB, A Shares(b) | | | | | 365 | | | | | | 12,037 | | |
| Indutrade AB | | | | | 4,126 | | | | | | 120,054 | | |
Kinnevik AB, B Shares* | | | | | 3,942 | | | | | | 154,518 | | |
| Lifco AB, B Shares | | | | | 3,188 | | | | | | 92,836 | | |
| Nibe Industrier AB, B Shares | | | | | 26,026 | | | | | | 387,428 | | |
| Sagax AB, B Shares | | | | | 1,033 | | | | | | 40,413 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Sweden (continued) | |
| Sandvik AB | | | | | 17,330 | | | | | $ | 438,875 | | |
| Securitas AB, B Shares | | | | | 5,042 | | | | | | 83,363 | | |
Sinch AB* | | | | | 8,161 | | | | | | 154,744 | | |
| Skandinaviska Enskilda Banken AB, A Shares | | | | | 23,627 | | | | | | 369,322 | | |
| Skanska AB, B Shares | | | | | 6,063 | | | | | | 153,896 | | |
| SKF AB, B Shares | | | | | 6,931 | | | | | | 160,595 | | |
SSAB AB, A Shares* | | | | | 3,291 | | | | | | 18,738 | | |
SSAB AB, B Shares* | | | | | 8,932 | | | | | | 44,533 | | |
| Svenska Cellulosa AB SCA, B Shares | | | | | 9,256 | | | | | | 144,307 | | |
Svenska Handelsbanken AB, A
Shares(b) | | | | | 23,855 | | | | | | 273,144 | | |
| Svenska Handelsbanken AB, B Shares | | | | | 568 | | | | | | 7,176 | | |
| Sweco AB, B Shares | | | | | 3,204 | | | | | | 50,997 | | |
Swedbank AB, A Shares(b) | | | | | 17,620 | | | | | | 382,086 | | |
Swedish Orphan Biovitrum AB* | | | | | 2,743 | | | | | | 74,416 | | |
| Tele2 AB, B Shares | | | | | 7,322 | | | | | | 103,285 | | |
| Telefonaktiebolaget LM Ericsson, B Shares | | | | | 47,540 | | | | | | 520,319 | | |
Telia Co. AB(b) | | | | | 35,313 | | | | | | 138,953 | | |
| Wallenstam AB, B Shares | | | | | 2,303 | | | | | | 40,330 | | |
| Total Sweden | | | | | | | | | | | 8,007,449 | | |
| Switzerland — 8.0% | |
| Alcon, Inc. | | | | | 8,127 | | | | | | 672,929 | | |
| Geberit AG | | | | | 561 | | | | | | 438,854 | | |
| Givaudan SA | | | | | 129 | | | | | | 608,329 | | |
| Kuehne + Nagel International AG | | | | | 901 | | | | | | 284,277 | | |
| Lonza Group AG | | | | | 1,206 | | | | | | 990,669 | | |
| Nestle SA | | | | | 43,069 | | | | | | 5,694,771 | | |
| Partners Group Holding AG | | | | | 357 | | | | | | 624,140 | | |
| Roche Holding AG | | | | | 433 | | | | | | 186,232 | | |
| Roche Holding AG | | | | | 11,424 | | | | | | 4,426,448 | | |
| Schindler Holding AG — Participating Certificate | | | | | 654 | | | | | | 170,487 | | |
| Schindler Holding AG — Registered | | | | | 312 | | | | | | 80,173 | | |
| SGS SA | | | | | 88 | | | | | | 260,798 | | |
| Sika AG | | | | | 2,175 | | | | | | 737,893 | | |
| STMicroelectronics NV | | | | | 10,587 | | | | | | 501,282 | | |
| Swisscom AG | | | | | 412 | | | | | | 224,723 | | |
| Zurich Insurance Group AG | | | | | 2,436 | | | | | | 1,082,104 | | |
| Total Switzerland | | | | | | | | | | | 16,984,109 | | |
| United Kingdom — 11.5% | |
| 3i Group PLC | | | | | 15,908 | | | | | | 297,432 | | |
| abrdn PLC | | | | | 35,556 | | | | | | 123,795 | | |
| Admiral Group PLC | | | | | 4,248 | | | | �� | | 167,119 | | |
| Ashtead Group PLC | | | | | 7,262 | | | | | | 609,606 | | |
ASOS PLC* | | | | | 1,132 | | | | | | 38,513 | | |
| Associated British Foods PLC | | | | | 5,886 | | | | | | 144,260 | | |
| AstraZeneca PLC | | | | | 20,503 | | | | | | 2,555,821 | | |
| Auto Trader Group PLC | | | | | 15,455 | | | | | | 128,296 | | |
| AVEVA Group PLC | | | | | 1,815 | | | | | | 88,520 | | |
| Aviva PLC | | | | | 63,098 | | | | | | 341,382 | | |
| Barclays PLC | | | | | 275,481 | | | | | | 763,727 | | |
| Barratt Developments PLC | | | | | 16,620 | | | | | | 151,044 | | |
| Berkeley Group Holdings PLC | | | | | 1,753 | | | | | | 104,647 | | |
| BP PLC | | | | | 302,239 | | | | | | 1,450,857 | | |
| British Land Co. PLC (The) | | | | | 13,731 | | | | | | 93,036 | | |
See notes to financial statements.
Schedule of Investments — IQ Candriam ESG International Equity ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| United Kingdom (continued) | |
BT Group PLC* | | | | | 121,889 | | | | | $ | 232,073 | | |
| Bunzl PLC | | | | | 5,506 | | | | | | 203,929 | | |
| Burberry Group PLC | | | | | 6,615 | | | | | | 174,912 | | |
| CK Hutchison Holdings Ltd. | | | | | 43,255 | | | | | | 291,089 | | |
| Coca-Cola Europacific Partners PLC | | | | | 2,442 | | | | | | 128,571 | | |
Compass Group PLC* | | | | | 28,928 | | | | | | 614,622 | | |
| ConvaTec Group PLC | | | | | 26,032 | | | | | | 76,291 | | |
| Croda International PLC | | | | | 2,276 | | | | | | 295,073 | | |
| DCC PLC | | | | | 1,558 | | | | | | 130,401 | | |
| Direct Line Insurance Group PLC | | | | | 22,248 | | | | | | 89,172 | | |
| DS Smith PLC | | | | | 22,400 | | | | | | 117,722 | | |
easyJet PLC* | | | | | 9,197 | | | | | | 78,540 | | |
| Experian PLC | | | | | 14,979 | | | | | | 687,221 | | |
| GlaxoSmithKline PLC | | | | | 81,627 | | | | | | 1,687,975 | | |
| Halma PLC | | | | | 6,184 | | | | | | 251,080 | | |
| Hargreaves Lansdown PLC | | | | | 5,739 | | | | | | 120,912 | | |
Informa PLC* | | | | | 24,537 | | | | | | 174,695 | | |
InterContinental Hotels Group PLC* | | | | | 2,878 | | | | | | 201,906 | | |
| Intermediate Capital Group PLC | | | | | 4,723 | | | | | | 141,846 | | |
| Intertek Group PLC | | | | | 2,636 | | | | | | 176,871 | | |
ITV PLC* | | | | | 59,262 | | | | | | 87,448 | | |
| J Sainsbury PLC | | | | | 30,892 | | | | | | 126,782 | | |
| JD Sports Fashion PLC | | | | | 8,054 | | | | | | 120,115 | | |
| Johnson Matthey PLC | | | | | 3,163 | | | | | | 118,494 | | |
| Kingfisher PLC | | | | | 34,521 | | | | | | 158,521 | | |
| Land Securities Group PLC | | | | | 12,118 | | | | | | 114,116 | | |
| Legal & General Group PLC | | | | | 96,854 | | | | | | 383,551 | | |
| Lloyds Banking Group PLC | | | | | 1,150,629 | | | | | | 792,082 | | |
| M&G PLC | | | | | 42,510 | | | | | | 116,425 | | |
| NatWest Group PLC | | | | | 85,086 | | | | | | 257,872 | | |
| Next PLC | | | | | 1,998 | | | | | | 218,169 | | |
| Pearson PLC | | | | | 12,303 | | | | | | 101,591 | | |
| Phoenix Group Holdings PLC | | | | | 11,351 | | | | | | 102,163 | | |
| Prudential PLC | | | | | 42,385 | | | | | | 868,293 | | |
| Reckitt Benckiser Group PLC | | | | | 11,562 | | | | | | 939,030 | | |
| RELX PLC | | | | | 31,350 | | | | | | 972,909 | | |
| Rentokil Initial PLC | | | | | 30,366 | | | | | | 244,917 | | |
| Rightmove PLC | | | | | 13,860 | | | | | | 131,356 | | |
| Sage Group PLC (The) | | | | | 17,199 | | | | | | 167,575 | | |
| Schroders PLC | | | | | 798 | | | | | | 27,018 | | |
| Schroders PLC | | | | | 2,200 | | | | | | 109,167 | | |
| Segro PLC | | | | | 19,444 | | | | | | 344,488 | | |
| Severn Trent PLC | | | | | 4,056 | | | | | | 152,226 | | |
| Spirax-Sarco Engineering PLC | | | | | 1,195 | | | | | | 255,617 | | |
| SSE PLC | | | | | 16,916 | | | | | | 381,088 | | |
| St James’s Place PLC | | | | | 8,760 | | | | | | 189,663 | | |
| Standard Chartered PLC | | | | | 50,569 | | | | | | 343,052 | | |
| Taylor Wimpey PLC | | | | | 57,991 | | | | | | 122,854 | | |
| Unilever PLC | | | | | 41,684 | | | | | | 2,235,251 | | |
| United Utilities Group PLC | | | | | 11,147 | | | | | | 158,680 | | |
| Vodafone Group PLC | | | | | 451,953 | | | | | | 669,323 | | |
| Weir Group PLC (The) | | | | | 4,238 | | | | | | 100,790 | | |
Whitbread PLC* | | | | | 3,301 | | | | | | 147,962 | | |
| WPP PLC | | | | | 19,439 | | | | | | 281,382 | | |
| Total United Kingdom | | | | | | | | | | | 24,472,926 | | |
| |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| United States — 1.6% | |
| Avast PLC | | | | | 10,369 | | | | | $ | 79,537 | | |
Carnival PLC* | | | | | 2,554 | | | | | | 51,463 | | |
CyberArk Software Ltd.* | | | | | 645 | | | | | | 116,171 | | |
| Ferguson PLC | | | | | 3,610 | | | | | | 544,077 | | |
| Schneider Electric SE | | | | | 8,694 | | | | | | 1,498,102 | | |
| Stellantis NV | | | | | 33,788 | | | | | | 674,495 | | |
| Swiss Re AG | | | | | 4,672 | | | | | | 453,216 | | |
| Tenaris SA | | | | | 7,621 | | | | | | 84,931 | | |
| Total United States | | | | | | | | | | | 3,501,992 | | |
Total Common Stocks
(Cost $177,397,530) | | | | | | | | | | | 210,884,055 | | |
| Preferred Stocks — 0.5% | |
| Germany — 0.5% | |
| Bayerische Motoren Werke AG, 2.58% | | | | | 935 | | | | | | 79,637 | | |
| Henkel AG & Co. KGaA, 2.37% | | | | | 2,851 | | | | | | 255,301 | | |
| Volkswagen AG, 2.50% | | | | | 2,970 | | | | | | 666,166 | | |
| Total Germany | | | | | | | | | | | 1,001,104 | | |
| Spain — 0.0%(a) | |
| Grifols SA, 4.70%, Class B | | | | | 4,272 | | | | | | 56,210 | | |
Total Preferred Stocks
(Cost $1,026,672) | | | | | | | | | | | 1,057,314 | | |
| Short-Term Investments — 1.5% | | | | | | | | | | | | | |
| Money Market Funds — 1.5% | | | | | | | | | | | | | |
Dreyfus Government Cash Management Fund, Institutional Shares, 0.03%(c)(d) | | | | | 2,953,100 | | | | | | 2,953,100 | | |
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 0.01%(c) | | | | | 227,345 | | | | | | 227,345 | | |
Total Short-Term Investments
(Cost $3,180,445) | | | | | | | | | | | 3,180,445 | | |
Total Investments — 101.2%
(Cost $181,604,647) | | | | | | | | | | | 215,121,814 | | |
Other Assets and Liabilities,
Net — (1.2)% | | | | | | | | | | | (2,465,711) | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 212,656,103 | | |
| |
*
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 $3,557,911; total market value of collateral held by the Fund was $6,020,720. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $3,067,620.
(c)
Reflects the 1-day yield at October 31, 2021.
(d)
Represents security purchased with cash collateral received for securities on loan.
See notes to financial statements.
Schedule of Investments — IQ Candriam ESG International Equity ETF (continued)
October 31, 2021 (unaudited)
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | |
| Investments in Securities:(e) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | | | $ | 210,884,055 | | | | | $ | — | | | | | $ | — | | | | | $ | 210,884,055 | | |
| Preferred Stocks | | | | | 1,057,314 | | | | | | — | | | | | | — | | | | | | 1,057,314 | | |
| Short-Term Investments: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Money Market Funds | | | | | 3,180,445 | | | | | | — | | | | | | — | | | | | | 3,180,445 | | |
| Total Investments in Securities | | | | $ | 215,121,814 | | | | | $ | — | | | | | $ | — | | | | | $ | 215,121,814 | | |
(e)
For a complete listing of investments and their countries, see the Schedule of Investments.
For the period ended October 31, 2021,the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 2)
See notes to financial statements.
Schedule of Investments — IQ Healthy Hearts ETF
October 31, 2021 (Unaudited)
| | | | Shares | | | Value | |
| Common Stocks — 99.9% | |
| Australia — 0.5% | | | |
| Ramsay Health Care Ltd. | | | | | 723 | | | | | $ | 38,241 | | |
| China — 0.5% | | | |
| China Traditional Chinese Medicine Holdings Co., Ltd. | | | | | 77,786 | | | | | | 36,998 | | |
| Denmark — 5.4% | | | |
| Novo Nordisk A/S, Class B | | | | | 3,517 | | | | | | 385,328 | | |
| France — 2.3% | | | |
| Danone SA | | | | | 683 | | | | | | 44,539 | | |
| Sanofi | | | | | 1,204 | | | | | | 120,426 | | |
| Total France | | | | | | | | | | | 164,965 | | |
| Germany — 2.3% | | | |
| adidas AG | | | | | 188 | | | | | | 61,635 | | |
| Fresenius SE & Co. KGaA | | | | | 678 | | | | | | 30,808 | | |
| Puma SE | | | | | 290 | | | | | | 36,010 | | |
| Siemens Healthineers AG | | | | | 514 | | | | | | 34,179 | | |
| Total Germany | | | | | | | | | | | 162,632 | | |
| Ireland — 0.5% | | | |
| Glanbia PLC | | | | | 2,020 | | | | | | 33,031 | | |
| Italy — 1.5% | | | |
Autogrill SpA* | | | | | 4,764 | | | | | | 37,357 | | |
| Moncler SpA | | | | | 561 | | | | | | 40,329 | | |
| Technogym SpA | | | | | 3,036 | | | | | | 31,902 | | |
| Total Italy | | | | | | | | | | | 109,588 | | |
| Japan — 2.0% | | | |
| Asahi Intecc Co., Ltd. | | | | | 1,240 | | | | | | 32,613 | | |
| Asics Corp. | | | | | 1,657 | | | | | | 41,154 | | |
| Nihon Kohden Corp. | | | | | 1,080 | | | | | | 34,335 | | |
| Shimano, Inc. | | | | | 125 | | | | | | 34,620 | | |
| Total Japan | | | | | | | | | | | 142,722 | | |
| Malaysia — 0.5% | | | |
| IHH Healthcare Bhd | | | | | 23,726 | | | | | | 37,471 | | |
| Netherlands — 1.1% | | | |
Basic-Fit NV* | | | | | 777 | | | | | | 37,766 | | |
uniQure NV* | | | | | 1,224 | | | | | | 37,295 | | |
| Total Netherlands | | | | | | | | | | | 75,061 | | |
| South Africa — 0.5% | | | |
Netcare Ltd.* | | | | | 32,785 | | | | | | 36,473 | | |
| South Korea — 0.4% | | | |
| Fila Holdings Corp. | | | | | 964 | | | | | | 30,606 | | |
| Spain — 0.5% | | | |
| Fluidra SA | | | | | 852 | | | | | | 32,587 | | |
| Sweden — 1.1% | | | |
| Getinge AB, B Shares | | | | | 886 | | | | | | 39,645 | | |
| Thule Group AB | | | | | 654 | | | | | | 37,678 | | |
| Total Sweden | | | | | | | | | | | 77,323 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Switzerland — 9.7% | | | |
| Nestle SA | | | | | 2,823 | | | | | $ | 373,269 | | |
| Novartis AG | | | | | 3,897 | | | | | | 322,593 | | |
| Total Switzerland | | | | | | | | | | | 695,862 | | |
| Taiwan — 1.5% | | | |
| Feng TAY Enterprise Co., Ltd. | | | | | 4,769 | | | | | | 37,043 | | |
| Giant Manufacturing Co., Ltd. | | | | | 3,122 | | | | | | 36,206 | | |
| Merida Industry Co., Ltd. | | | | | 3,275 | | | | | | 34,036 | | |
| Total Taiwan | | | | | | | | | | | 107,285 | | |
| Thailand — 1.0% | | | |
| Bangkok Dusit Medical Services PCL | | | | | 50,787 | | | | | | 35,967 | | |
| Bumrungrad Hospital PCL | | | | | 8,821 | | | | | | 38,679 | | |
| Total Thailand | | | | | | | | | | | 74,646 | | |
| United Kingdom — 5.8% | | | |
| AstraZeneca PLC | | | | | 3,055 | | | | | | 380,824 | | |
Frasers Group PLC* | | | | | 3,949 | | | | | | 34,833 | | |
| Total United Kingdom | | | | | | | | | | | 415,657 | | |
| United States — 62.8% | | | |
| Abbott Laboratories | | | | | 2,886 | | | | | | 371,977 | | |
ABIOMED, Inc.* | | | | | 100 | | | | | | 33,204 | | |
Acadia Healthcare Co., Inc.* | | | | | 544 | | | | | | 33,728 | | |
Alphabet, Inc., Class A* | | | | | 125 | | | | | | 370,115 | | |
| Anthem, Inc. | | | | | 261 | | | | | | 113,569 | | |
| Apple, Inc. | | | | | 2,420 | | | | | | 362,516 | | |
Arena Pharmaceuticals, Inc.* | | | | | 686 | | | | | | 39,370 | | |
Boston Scientific Corp.* | | | | | 1,533 | | | | | | 66,118 | | |
| Bristol-Myers Squibb Co. | | | | | 2,397 | | | | | | 139,985 | | |
Callaway Golf Co.*(a) | | | | | 1,238 | | | | | | 33,488 | | |
Centene Corp.* | | | | | 622 | | | | | | 44,311 | | |
Community Health Systems, Inc.* | | | | | 2,872 | | | | | | 37,623 | | |
Cytokinetics, Inc.* | | | | | 1,080 | | | | | | 37,703 | | |
Edwards Lifesciences Corp.* | | | | | 668 | | | | | | 80,040 | | |
| Eli Lilly & Co. | | | | | 1,384 | | | | | | 352,588 | | |
| Encompass Health Corp. | | | | | 464 | | | | | | 29,492 | | |
| Garmin Ltd. | | | | | 204 | | | | | | 29,294 | | |
| General Mills, Inc. | | | | | 653 | | | | | | 40,355 | | |
| HCA Healthcare, Inc. | | | | | 268 | | | | | | 67,123 | | |
| Healthcare Services Group, Inc. | | | | | 1,370 | | | | | | 26,290 | | |
| Johnson & Johnson | | | | | 2,079 | | | | | | 338,628 | | |
| Kellogg Co. | | | | | 568 | | | | | | 34,818 | | |
Lantheus Holdings, Inc.*(a) | | | | | 1,400 | | | | | | 32,746 | | |
LivaNova PLC* | | | | | 434 | | | | | | 33,296 | | |
| Medical Properties Trust, Inc. | | | | | 1,791 | | | | | | 38,202 | | |
| Medifast, Inc. | | | | | 155 | | | | | | 30,422 | | |
| Medtronic PLC | | | | | 2,687 | | | | | | 322,064 | | |
| Merck & Co., Inc. | | | | | 4,713 | | | | | | 414,980 | | |
Merit Medical Systems, Inc.* | | | | | 502 | | | | | | 33,765 | | |
Molina Healthcare, Inc.* | | | | | 134 | | | | | | 39,626 | | |
| NIKE, Inc., Class B | | | | | 2,146 | | | | | | 359,004 | | |
Peloton Interactive, Inc., Class A* | | | | | 345 | | | | | | 31,547 | | |
| Pentair PLC | | | | | 469 | | | | | | 34,692 | | |
Penumbra, Inc.* | | | | | 132 | | | | | | 36,505 | | |
Planet Fitness, Inc., Class A* | | | | | 438 | | | | | | 34,843 | | |
See notes to financial statements.
Schedule of Investments — IQ Healthy Hearts ETF (continued)
October 31, 2021 (Unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| United States (continued) | | | |
| Pool Corp. | | | | | 75 | | | | | $ | 38,637 | | |
| Select Medical Holdings Corp. | | | | | 1,042 | | | | | | 34,615 | | |
Sprouts Farmers Market, Inc.*(a) | | | | | 1,455 | | | | | | 32,214 | | |
Tenet Healthcare Corp.* | | | | | 479 | | | | | | 34,325 | | |
Under Armour, Inc., Class A* | | | | | 1,491 | | | | | | 32,742 | | |
United Therapeutics Corp.* | | | | | 170 | | | | | | 32,429 | | |
| Universal Health Services, Inc., Class B | | | | | 229 | | | | | | 28,419 | | |
| Vail Resorts, Inc. | | | | | 118 | | | | | | 40,676 | | |
| VF Corp. | | | | | 469 | | | | | | 34,181 | | |
WW International, Inc.* | | | | | 1,581 | | | | | | 27,446 | | |
YETI Holdings, Inc.* | | | | | 353 | | | | | | 34,710 | | |
| Total United States | | | | | | | | | | | 4,494,421 | | |
| Total Common Stocks | |
| (Cost $6,602,793) | | | | | | | | | | | 7,150,897 | | |
| Short-Term Investment — 0.0%(b) | | | | | | | | | | | | | |
| Money Market Fund — 0.0%(b) | | | | | | | | | | | | | |
Dreyfus Institutional Preferred Government
Money Market Fund, Institutional
Shares, 0.01%(c) | | | | | | | | | | | | | |
| (Cost $1,321) | | | | | 1,321 | | | | | | 1,321 | | |
| Total Investments — 99.9% | | | |
| (Cost $6,604,114) | | | | | | | | | | | 7,152,218 | | |
Other Assets and Liabilities,
Net — 0.1% | | | | | | | | | | | 5,428 | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 7,157,646 | | |
| |
*
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 $80,975; total market value of collateral held consisted of non-cash U.S. Treasury securities collateral having a value of $81,799.
(b)
Less than 0.05%.
(c)
Reflects the 1-day yield at October 31, 2021.
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | | | |
| Asset Valuation Inputs | | | | | | | | | | | | | | | | | | | |
| Investments in Securities:(d) | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | | | $ | 7,150,897 | | | | | $ | — | | | | | $ | — | | | | | $ | 7,150,897 | | | | |
| Short-Term Investments: | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Money Market Funds | | | | | 1,321 | | | | | | — | | | | | | — | | | | | | 1,321 | | | | |
| Total Investments in Securities | | | | $ | 7,152,218 | | | | | $ | — | | | | | $ | — | | | | | $ | 7,152,218 | | | | |
(d)
For a complete listing of investments and their countries, see the Schedule of Investments.
For the period ended October 31, 2021 the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 2).
See notes to financial statements.
Schedule of Investments — IQ Engender Equality ETF
October 31, 2021 (Unaudited)
| | | | Shares | | | Value | |
| Common Stocks — 100.1% | |
| Communication Services — 8.6% | |
| AT&T, Inc. | | | | | 2,362 | | | | | $ | 59,664 | | |
Discovery, Inc., Class A* | | | | | 2,416 | | | | | | 56,631 | | |
Facebook, Inc.* | | | | | 176 | | | | | | 56,948 | | |
| Omnicom Group, Inc. | | | | | 890 | | | | | | 60,591 | | |
Spotify Technology SA* | | | | | 272 | | | | | | 78,717 | | |
| Verizon Communications, Inc. | | | | | 1,198 | | | | | | 63,482 | | |
| ViacomCBS, Inc., Class B | | | | | 1,613 | | | | | | 58,423 | | |
| Total Communication Services | | | | | | | | | | | 434,456 | | |
| Consumer Discretionary — 16.6% | |
| eBay, Inc. | | | | | 873 | | | | | | 66,976 | | |
Etsy, Inc.* | | | | | 292 | | | | | | 73,201 | | |
Ford Motor Co.* | | | | | 4,888 | | | | | | 83,487 | | |
| Gap, Inc. (The) | | | | | 2,694 | | | | | | 61,127 | | |
General Motors Co.* | | | | | 1,272 | | | | | | 69,235 | | |
| Hasbro, Inc. | | | | | 664 | | | | | | 63,585 | | |
Marriott International, Inc., Class A* | | | | | 452 | | | | | | 72,329 | | |
PVH Corp.* | | | | | 596 | | | | | | 65,161 | | |
| Ralph Lauren Corp. | | | | | 584 | | | | | | 74,267 | | |
| Target Corp. | | | | | 264 | | | | | | 68,540 | | |
| VF Corp. | | | | | 948 | | | | | | 69,090 | | |
| Yum China Holdings, Inc. | | | | | 1,171 | | | | | | 66,841 | | |
| Total Consumer Discretionary | | | | | | | | | | | 833,839 | | |
| Consumer Staples — 11.6% | |
| Campbell Soup Co. | | | | | 1,498 | | | | | | 59,845 | | |
| Clorox Co. (The) | | | | | 391 | | | | | | 63,737 | | |
| Coca-Cola Co. (The) | | | | | 1,178 | | | | | | 66,404 | | |
| General Mills, Inc. | | | | | 1,110 | | | | | | 68,598 | | |
| Hershey Co. (The) | | | | | 372 | | | | | | 65,230 | | |
| Kellogg Co. | | | | | 1,026 | | | | | | 62,894 | | |
| Kimberly-Clark Corp. | | | | | 484 | | | | | | 62,673 | | |
| PepsiCo, Inc. | | | | | 419 | | | | | | 67,710 | | |
| Procter & Gamble Co. (The) | | | | | 452 | | | | | | 64,632 | | |
| Total Consumer Staples | | | | | | | | | | | 581,723 | | |
| Financials — 18.1% | |
| American Express Co. | | | | | 401 | | | | | | 69,686 | | |
| Bank of America Corp. | | | | | 1,612 | | | | | | 77,021 | | |
| Bank of New York Mellon Corp. (The) | | | | | 1,276 | | | | | | 75,539 | | |
| BlackRock, Inc. | | | | | 72 | | | | | | 67,929 | | |
| Citigroup, Inc. | | | | | 931 | | | | | | 64,388 | | |
| Goldman Sachs Group, Inc. (The) | | | | | 164 | | | | | | 67,789 | | |
| MetLife, Inc. | | | | | 1,048 | | | | | | 65,814 | | |
| Principal Financial Group, Inc. | | | | | 992 | | | | | | 66,553 | | |
| Progressive Corp. (The) | | | | | 701 | | | | | | 66,511 | | |
| Prudential Financial, Inc. | | | | | 629 | | | | | | 69,222 | | |
| Regions Financial Corp. | | | | | 3,286 | | | | | | 77,813 | | |
| S&P Global, Inc. | | | | | 144 | | | | | | 68,279 | | |
| Wells Fargo & Co. | | | | | 1,409 | | | | | | 72,085 | | |
| Total Financials | | | | | | | | | | | 908,629 | | |
| Health Care — 17.1% | |
| Abbott Laboratories | | | | | 516 | | | | | | 66,507 | | |
| AbbVie, Inc. | | | | | 603 | | | | | | 69,146 | | |
| Amgen, Inc. | | | | | 300 | | | | | | 62,091 | | |
| Anthem, Inc. | | | | | 174 | | | | | | 75,713 | | |
Biogen, Inc.* | | | | | 220 | | | | | | 58,669 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Health Care (continued) | |
BioMarin Pharmaceutical, Inc.* | | | | | 856 | | | | | $ | 67,821 | | |
| Bristol-Myers Squibb Co. | | | | | 1,065 | | | | | | 62,196 | | |
| Eli Lilly & Co. | | | | | 282 | | | | | | 71,842 | | |
| Gilead Sciences, Inc. | | | | | 920 | | | | | | 59,690 | | |
Illumina, Inc.* | | | | | 144 | | | | | | 59,769 | | |
| Johnson & Johnson | | | | | 395 | | | | | | 64,338 | | |
| Medtronic PLC | | | | | 500 | | | | | | 59,930 | | |
| Merck & Co., Inc. | | | | | 906 | | | | | | 79,773 | | |
| Total Health Care | | | | | | | | | | | 857,485 | | |
| Industrials — 6.9% | |
| 3M Co. | | | | | 357 | | | | | | 63,789 | | |
| Equifax, Inc. | | | | | 238 | | | | | | 66,028 | | |
| Nielsen Holdings PLC | | | | | 3,247 | | | | | | 65,752 | | |
| Owens Corning | | | | | 690 | | | | | | 64,453 | | |
Sunrun, Inc.* | | | | | 1,500 | | | | | | 86,520 | | |
| Total Industrials | | | | | | | | | | | 346,542 | | |
| Information Technology — 16.1% | |
| Accenture PLC, Class A | | | | | 192 | | | | | | 68,888 | | |
Adobe, Inc.* | | | | | 100 | | | | | | 65,036 | | |
Autodesk, Inc.* | | | | | 224 | | | | | | 71,144 | | |
| Automatic Data Processing, Inc. | | | | | 332 | | | | | | 74,530 | | |
HubSpot, Inc.* | | | | | 92 | | | | | | 74,541 | | |
| International Business Machines Corp. | | | | | 478 | | | | | | 59,798 | | |
| Intuit, Inc. | | | | | 114 | | | | | | 71,363 | | |
| Mastercard, Inc., Class A | | | | | 188 | | | | | | 63,078 | | |
| Microsoft Corp. | | | | | 216 | | | | | | 71,630 | | |
| Paychex, Inc. | | | | | 600 | | | | | | 73,968 | | |
PayPal Holdings, Inc.* | | | | | 230 | | | | | | 53,496 | | |
| Visa, Inc., Class A | | | | | 291 | | | | | | 61,625 | | |
| Total Information Technology | | | | | | | | | | | 809,097 | | |
| Materials — 3.8% | |
| Dow, Inc. | | | | | 1,096 | | | | | | 61,343 | | |
| DuPont de Nemours, Inc. | | | | | 923 | | | | | | 64,241 | | |
| Ecolab, Inc. | | | | | 292 | | | | | | 64,888 | | |
| Total Materials | | | | | | | | | | | 190,472 | | |
| Real Estate — 1.3% | |
Host Hotels & Resorts, Inc.* | | | | | 3,973 | | | | | | 66,866 | | |
Total Investments — 100.1%
(Cost $5,005,218) | | | | | | | | | | | 5,029,109 | | |
Other Assets and Liabilities,
Net — (0.1)% | | | | | | | | | | | (3,276) | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 5,025,833 | | |
| |
*
Non-income producing securities.
See notes to financial statements.
Schedule of Investments — IQ Engender Equality ETF (continued)
October 31, 2021 (Unaudited)
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investments in Securities:(a) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | | | $ | 5,029,109 | | | | | $ | — | | | | | $ | — | | | | | $ | 5,029,109 | | |
| Total Investments in Securities | | | | $ | 5,029,109 | | | | | $ | — | | | | | $ | — | | | | | $ | 5,029,109 | | |
(a)
For a complete listing of investments and their industries, see the Schedule of Investments.
For the period ended October 31, 2021 the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 2).
See notes to financial statements.
Schedule of Investments — IQ Cleaner Transport ETF
October 31, 2021 (Unaudited)
| | | | Shares | | | Value | |
| Common Stocks — 97.2% | |
| Belgium — 0.6% | |
| Umicore SA | | | | | 499 | | | | | $ | 28,631 | | |
| Brazil — 0.2% | |
Rumo SA* | | | | | 3,444 | | | | | | 9,769 | | |
| Canada — 1.4% | |
Ballard Power Systems, Inc.* | | | | | 768 | | | | | | 13,897 | | |
| Magna International, Inc. | | | | | 746 | | | | | | 60,587 | | |
| Total Canada | | | | | | | | | | | 74,484 | | |
| Chile — 0.2% | |
| Enel Americas SA | | | | | 91,757 | | | | | | 10,461 | | |
| China — 7.1% | |
COSCO SHIPPING Holdings Co., Ltd., Class H* | | | | | 65,479 | | | | | | 101,682 | | |
NIO, Inc.* | | | | | 3,393 | | | | | | 133,718 | | |
Xinjiang Goldwind Science & Technology
Co., Ltd., Class H | | | | | 12,604 | | | | | | 28,257 | | |
| Xinyi Solar Holdings Ltd. | | | | | 11,269 | | | | | | 23,584 | | |
XPeng, Inc.* | | | | | 1,477 | | | | | | 68,872 | | |
Zhuzhou CRRC Times Electric Co., Ltd.* | | | | | 1,972 | | | | | | 9,456 | | |
| Total China | | | | | | | | | | | 365,569 | | |
| Denmark — 5.9% | |
| AP Moller — Maersk A/S, Class B | | | | | 29 | | | | | | 83,887 | | |
| DSV A/S | | | | | 487 | | | | | | 113,296 | | |
| Vestas Wind Systems A/S | | | | | 2,519 | | | | | | 109,054 | | |
| Total Denmark | | | | | | | | | | | 306,237 | | |
| Finland — 0.3% | |
| Wartsila OYJ Abp | | | | | 1,148 | | | | | | 15,936 | | |
| France — 3.1% | |
| Alstom SA | | | | | 911 | | | | | | 32,450 | | |
| Cie Plastic Omnium SA | | | | | 404 | | | | | | 11,202 | | |
| Faurecia SE | | | | | 314 | | | | | | 16,370 | | |
| Getlink SE | | | | | 1,067 | | | | | | 16,404 | | |
| Legrand SA | | | | | 643 | | | | | | 70,125 | | |
| Valeo | | | | | 554 | | | | | | 16,240 | | |
| Total France | | | | | | | | | | | 162,791 | | |
| Germany — 10.0% | |
| Bayerische Motoren Werke AG | | | | | 870 | | | | | | 87,834 | | |
Continental AG* | | | | | 271 | | | | | | 31,838 | | |
| E.ON SE | | | | | 5,542 | | | | | | 70,330 | | |
| Infineon Technologies AG | | | | | 3,262 | | | | | | 152,489 | | |
| Knorr-Bremse AG | | | | | 121 | | | | | | 12,762 | | |
Nordex SE* | | | | | 657 | | | | | | 12,089 | | |
| Siemens AG | | | | | 910 | | | | | | 147,728 | | |
Vitesco Technologies Group AG* | | | | | 54 | | | | | | 3,100 | | |
| Total Germany | | | | | | | | | | | 518,170 | | |
| Japan — 11.6% | |
| Central Japan Railway Co. | | | | | 336 | | | | | | 49,800 | | |
| Denso Corp. | | | | | 889 | | | | | | 64,111 | | |
| East Japan Railway Co. | | | | | 711 | | | | | | 44,197 | | |
| Hitachi Ltd. | | | | | 1,942 | | | | | | 111,624 | | |
| Kansai Electric Power Co., Inc. (The) | | | | | 1,531 | | | | | | 14,071 | | |
| Koito Manufacturing Co., Ltd. | | | | | 242 | | | | | | 13,668 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Japan (continued) | |
| Panasonic Corp. | | | | | 4,308 | | | | | $ | 52,610 | | |
| Shimano, Inc. | | | | | 163 | | | | | | 45,144 | | |
| TDK Corp. | | | | | 585 | | | | | | 21,189 | | |
| Toyoda Gosei Co., Ltd. | | | | | 606 | | | | | | 12,335 | | |
| Toyota Motor Corp. | �� | | | | 8,769 | | | | | | 154,308 | | |
| Yamaha Motor Co., Ltd. | | | | | 527 | | | | | | 14,628 | | |
| Total Japan | | | | | | | | | | | 597,685 | | |
| Portugal — 0.8% | |
| EDP — Energias de Portugal SA | | | | | 6,918 | | | | | | 39,101 | | |
| South Africa — 0.2% | |
| Scatec ASA | | | | | 601 | | | | | | 11,801 | | |
| South Korea — 2.2% | |
| Hyundai Mobis Co., Ltd. | | | | | 156 | | | | | | 33,641 | | |
| Samsung SDI Co., Ltd. | | | | | 130 | | | | | | 81,657 | | |
| Total South Korea | | | | | | | | | | | 115,298 | | |
| Spain — 4.6% | |
Amadeus IT Group SA* | | | | | 1,128 | | | | | | 75,503 | | |
| Iberdrola SA | | | | | 12,249 | | | | | | 144,799 | | |
Siemens Gamesa Renewable Energy
SA* | | | | | 559 | | | | | | 15,157 | | |
| Total Spain | | | | | | | | | | | 235,459 | | |
| Sweden — 0.8% | |
| MIPS AB | | | | | 114 | | | | | | 13,765 | | |
PowerCell Sweden AB* | | | | | 557 | | | | | | 12,439 | | |
| Thule Group AB | | | | | 259 | | | | | | 14,921 | | |
| Total Sweden | | | | | | | | | | | 41,125 | | |
| Switzerland — 2.0% | |
Landis+Gyr Group AG* | | | | | 162 | | | | | | 11,169 | | |
| Stadler Rail AG | | | | | 284 | | | | | | 12,494 | | |
| STMicroelectronics NV | | | | | 1,641 | | | | | | 77,700 | | |
| Total Switzerland | | | | | | | | | | | 101,363 | | |
| Taiwan — 4.0% | |
| Evergreen Marine Corp Taiwan Ltd. | | | | | 9,000 | | | | | | 32,202 | | |
| Taiwan High Speed Rail Corp. | | | | | 11,000 | | | | | | 11,491 | | |
| Taiwan Semiconductor Manufacturing Co., Ltd. | | | | | 7,000 | | | | | | 148,516 | | |
| Wistron Corp. | | | | | 12,000 | | | | | | 12,601 | | |
| Total Taiwan | | | | | | | | | | | 204,810 | | |
| United Kingdom — 0.5% | |
Firstgroup PLC* | | | | | 10,152 | | | | | | 14,027 | | |
National Express Group PLC* | | | | | 3,486 | | | | | | 10,924 | | |
| Total United Kingdom | | | | | | | | | | | 24,951 | | |
| United States — 41.7% | |
Alphabet, Inc., Class A* | | | | | 52 | | | | | | 153,968 | | |
Aptiv PLC* | | | | | 674 | | | | | | 116,528 | | |
Bloom Energy Corp., Class A* | | | | | 587 | | | | | | 18,350 | | |
| BorgWarner, Inc. | | | | | 598 | | | | | | 26,952 | | |
| CSX Corp. | | | | | 4,510 | | | | | | 163,127 | | |
| Edison International | | | | | 950 | | | | | | 59,783 | | |
Enphase Energy, Inc.* | | | | | 316 | | | | | | 73,195 | | |
See notes to financial statements.
Schedule of Investments — IQ Cleaner Transport ETF (continued)
October 31, 2021 (Unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| United States (continued) | |
First Solar, Inc.* | | | | | 235 | | | | | $ | 28,104 | | |
| General Electric Co. | | | | | 1,422 | | | | | | 149,125 | | |
| Intel Corp. | | | | | 2,799 | | | | | | 137,151 | | |
| NextEra Energy, Inc. | | | | | 1,809 | | | | | | 154,362 | | |
| NVIDIA Corp. | | | | | 666 | | | | | | 170,276 | | |
| Schneider Electric SE | | | | | 841 | | | | | | 144,916 | | |
SolarEdge Technologies, Inc.* | | | | | 130 | | | | | | 46,108 | | |
| Stellantis NV | | | | | 5,713 | | | | | | 114,046 | | |
Tesla, Inc.* | | | | | 212 | | | | | | 236,168 | | |
| Texas Instruments, Inc. | | | | | 792 | | | | | | 148,484 | | |
TPI Composites, Inc.* | | | | | 295 | | | | | | 9,921 | | |
| Union Pacific Corp. | | | | | 681 | | | | | | 164,393 | | |
| Westinghouse Air Brake Technologies Corp. | | | | | 449 | | | | | | 40,738 | | |
| Total United States | | | | | | | | | | | 2,155,695 | | |
Total Common Stocks
(Cost $4,861,492) | | | | | | | | | | | 5,019,336 | | |
| |
| | | | Shares | | | Value | |
| Preferred Stock — 2.7% | |
| Germany — 2.7% | | | |
| Volkswagen AG, 2.50% | | | | | 638 | | | | | $ | 143,102 | | |
| Short-Term Investment — 0.0%(a) | | | |
| Money Market Fund — 0.0%(a) | | | |
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 0.01%(b)
(Cost $654) | | | | | 654 | | | | | | 654 | | |
Total Investments — 99.9%
(Cost $5,001,043) | | | | | | | | | | | 5,163,092 | | |
Other Assets and Liabilities,
Net — 0.1% | | | | | | | | | | | 1,986 | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 5,165,078 | | |
| |
*
Non-income producing securities.
(a)
Less than 0.05%.
(b)
Reflects the 1-day yield at October 31, 2021.
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investments in Securities:(c) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | | | $ | 5,019,336 | | | | | $ | — | | | | | $ | — | | | | | $ | 5,019,336 | | |
| Preferred Stock | | | | | 143,102 | | | | | | — | | | | | | — | | | | | | 143,102 | | |
| Short-Term Investment: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Money Market Fund | | | | | 654 | | | | | | — | | | | | | — | | | | | | 654 | | |
| Total Investments in Securities | | | | $ | 5,163,092 | | | | | $ | — | | | | | $ | — | | | | | $ | 5,163,092 | | |
(c)
For a complete listing of investments and their countries, see the Schedule of Investments.
For the period ended October 31, 2021 the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 2).
See notes to financial statements.
Schedule of Investments — IQ Clean Oceans ETF
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks — 99.4% | |
| Austria — 0.9% | |
| ANDRITZ AG | | | | | 224 | | | | | $ | 12,697 | | |
| Mondi PLC | | | | | 1,386 | | | | | | 34,672 | | |
| Total Austria | | | | | | | | | | | 47,369 | | |
| Brazil — 0.5% | |
| Engie Brasil Energia SA | | | | | 1,753 | | | | | | 12,100 | | |
Klabin SA* | | | | | 3,256 | | | | | | 13,251 | | |
| Total Brazil | | | | | | | | | | | 25,351 | | |
| Canada — 0.3% | |
Ballard Power Systems, Inc.* | | | | | 785 | | | | | | 14,205 | | |
| Denmark — 5.9% | |
| AP Moller — Maersk A/S, Class B | | | | | 16 | | | | | | 46,282 | | |
| Chr Hansen Holding A/S | | | | | 297 | | | | | | 23,655 | | |
Dfds A/S* | | | | | 218 | | | | | | 11,293 | | |
| Orsted A/S | | | | | 544 | | | | | | 76,840 | | |
| ROCKWOOL International A/S, Class B | | | | | 30 | | | | | | 13,720 | | |
| Vestas Wind Systems A/S | | | | | 2,925 | | | | | | 126,631 | | |
| Total Denmark | | | | | | | | | | | 298,421 | | |
| Faroe Islands — 0.2% | |
| Bakkafrost P/F | | | | | 143 | | | | | | 13,189 | | |
| Finland — 0.7% | |
| Valmet OYJ | | | | | 382 | | | | | | 15,517 | | |
| Wartsila OYJ Abp | | | | | 1,323 | | | | | | 18,365 | | |
| Total Finland | | | | | | | | | | | 33,882 | | |
| France — 8.5% | |
| Dassault Systemes SE | | | | | 1,930 | | | | | | 112,523 | | |
| Legrand SA | | | | | 742 | | | | | | 80,922 | | |
| L’Oreal SA | | | | | 331 | | | | | | 151,286 | | |
| Suez SA | | | | | 1,094 | | | | | | 24,922 | | |
| Veolia Environnement SA | | | | | 1,870 | | | | | | 61,091 | | |
| Total France | | | | | | | | | | | 430,744 | | |
| Germany — 9.6% | |
| adidas AG | | | | | 428 | | | | | | 140,319 | | |
| Beiersdorf AG | | | | | 286 | | | | | | 30,416 | | |
| Infineon Technologies AG | | | | | 3,609 | | | | | | 168,710 | | |
| Siemens AG | | | | | 919 | | | | | | 149,190 | | |
| Total Germany | | | | | | | | | | | 488,635 | | |
| Ireland — 0.8% | |
| Smurfit Kappa Group PLC | | | | | 743 | | | | | | 39,058 | | |
| Japan — 7.7% | |
| Bridgestone Corp. | | | | | 1,355 | | | | | | 59,643 | | |
| FANUC Corp. | | | | | 413 | | | | | | 80,807 | | |
| Kao Corp. | | | | | 1,041 | | | | | | 58,712 | | |
| Kurita Water Industries Ltd. | | | | | 281 | | | | | | 13,801 | | |
| Nippon Yusen K.K. | | | | | 373 | | | | | | 26,759 | | |
| Nitto Denko Corp. | | | | | 284 | | | | | | 22,117 | | |
| Panasonic Corp. | | | | | 5,017 | | | | | | 61,269 | | |
| Rohm Co., Ltd. | | | | | 196 | | | | | | 17,842 | | |
| Sekisui Chemical Co., Ltd. | | | | | 964 | | | | | | 15,767 | | |
| TOTO Ltd. | | | | | 336 | | | | | | 16,207 | | |
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| Japan (continued) | |
| Yaskawa Electric Corp. | | | | | 506 | | | | | $ | 21,833 | | |
| Total Japan | | | | | | | | | | | 394,757 | | |
| Norway — 1.0% | |
| Leroy Seafood Group ASA | | | | | 1,423 | | | | | | 12,919 | | |
| Mowi ASA | | | | | 1,272 | | | | | | 36,780 | | |
| Total Norway | | | | | | | | | | | 49,699 | | |
| Portugal — 0.9% | |
| EDP — Energias de Portugal SA | | | | | 7,974 | | | | | | 45,069 | | |
| South Africa — 0.2% | |
| Scatec ASA | | | | | 608 | | | | | | 11,938 | | |
| South Korea — 3.0% | |
| Coway Co., Ltd. | | | | | 199 | | | | | | 13,522 | | |
| Hyundai Glovis Co., Ltd. | | | | | 79 | | | | | | 11,324 | | |
| LG Electronics, Inc. | | | | | 317 | | | | | | 32,689 | | |
| Samsung SDI Co., Ltd. | | | | | 151 | | | | | | 94,847 | | |
| Total South Korea | | | | | | | | | | | 152,382 | | |
| Spain — 3.6% | |
| EDP Renovaveis SA | | | | | 700 | | | | | | 19,523 | | |
| Iberdrola SA | | | | | 12,371 | | | | | | 146,241 | | |
Siemens Gamesa Renewable
Energy SA* | | | | | 650 | | | | | | 17,624 | | |
| Total Spain | | | | | | | | | | | 183,388 | | |
| Sweden — 2.6% | |
| Essity AB, B Shares | | | | | 1,864 | | | | | | 60,292 | | |
| Nibe Industrier AB, B Shares | | | | | 4,807 | | | | | | 71,558 | | |
| Total Sweden | | | | | | | | | | | 131,850 | | |
| Switzerland — 4.4% | |
| Givaudan SA | | | | | 23 | | | | | | 108,462 | | |
SIG Combibloc Group AG* | | | | | 931 | | | | | | 24,371 | | |
| STMicroelectronics NV | | | | | 1,905 | | | | | | 90,200 | | |
| Total Switzerland | | | | | | | | | | | 223,033 | | |
| United Kingdom — 5.7% | |
| Burberry Group PLC | | | | | 1,168 | | | | | | 30,884 | | |
| DS Smith PLC | | | | | 3,846 | | | | | | 20,212 | | |
| Kingfisher PLC | | | | | 6,094 | | | | | | 27,984 | | |
| Pennon Group PLC | | | | | 740 | | | | | | 11,827 | | |
| Severn Trent PLC | | | | | 717 | | | | | | 26,910 | | |
| Unilever PLC | | | | | 2,751 | | | | | | 147,519 | | |
| United Utilities Group PLC | | | | | 1,959 | | | | | | 27,887 | | |
| Total United Kingdom | | | | | | | | | | | 293,223 | | |
| United States — 42.9% | |
| American Water Works Co., Inc. | | | | | 527 | | | | | | 91,793 | | |
| Badger Meter, Inc. | | | | | 119 | | | | | | 12,168 | | |
| Ball Corp. | | | | | 948 | | | | | | 86,723 | | |
| Consolidated Edison, Inc. | | | | | 1,023 | | | | | | 77,134 | | |
| Ecolab, Inc. | | | | | 685 | | | | | | 152,221 | | |
| Eversource Energy | | | | | 992 | | | | | | 84,221 | | |
Evoqua Water Technologies Corp.* | | | | | 326 | | | | | | 13,637 | | |
First Solar, Inc.* | | | | | 274 | | | | | | 32,768 | | |
See notes to financial statements.
Schedule of Investments — IQ Clean Oceans ETF (continued)
October 31, 2021 (unaudited)
| | | | Shares | | | Value | |
| Common Stocks (continued) | |
| United States (continued) | |
| Home Depot, Inc. (The) | | | | | 477 | | | | | $ | 177,320 | | |
| Intel Corp. | | | | | 2,861 | | | | | | 140,189 | | |
| International Flavors & Fragrances, Inc. | | | | | 721 | | | | | | 106,311 | | |
| Kimberly-Clark Corp. | | | | | 982 | | | | | | 127,159 | | |
| Lowe’s Cos., Inc. | | | | | 749 | | | | | | 175,131 | | |
| Microsoft Corp. | | | | | 514 | | | | | | 170,453 | | |
| NextEra Energy, Inc. | | | | | 1,848 | | | | | | 157,690 | | |
| NVIDIA Corp. | | | | | 681 | | | | | | 174,111 | | |
O-I Glass, Inc.* | | | | | 830 | | | | | | 10,832 | | |
| Procter & Gamble Co. (The) | | | | | 1,075 | | | | | | 153,714 | | |
| Texas Instruments, Inc. | | | | | 809 | | | | | | 151,671 | | |
WillScot Mobile Mini Holdings Corp.* | | | | | 575 | | | | | | 19,981 | | |
| Xylem, Inc. | | | | | 521 | | | | | | 68,037 | | |
| Total United States | | | | | | | | | | | 2,183,264 | | |
Total Common Stocks
(Cost $4,974,548) | | | | | | | | | | | 5,059,457 | | |
| |
| | | | Shares | | | Value | |
| Preferred Stock — 0.9% | | | | | | | | | | | | | |
| Germany — 0.9% | | | | | | | | | | | | | |
| Henkel AG & Co. KGaA, 2.37% | | | | | 508 | | | | | $ | 45,490 | | |
Total Investments — 100.3%
(Cost $5,019,835) | | | | | | | | | | | 5,104,947 | | |
Other Assets and Liabilities,
Net — (0.3)% | | | | | | | | | | | (13,955) | | |
| Net Assets — 100.0% | | | | | | | | | | $ | 5,090,992 | | |
| |
*
Non-income producing securities.
The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 2.
| Description | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Asset Valuation Inputs | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investments in Securities:(a) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | | | $ | 5,059,457 | | | | | $ | — | | | | | $ | — | | | | | $ | 5,059,457 | | |
| Preferred Stock | | | | | 45,490 | | | | | | — | | | | | | — | | | | | | 45,490 | | |
| Total Investments in Securities | | | | $ | 5,104,947 | | | | | $ | — | | | | | $ | — | | | | | $ | 5,104,947 | | |
(a)
For a complete listing of investments and their countries, see the Schedule of Investments.
For the period ended October 31, 2021 the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 2).
See notes to financial statements.
Statements of Assets and Liabilities
October 31, 2021 (unaudited)
| | | | 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) | | | | $ | 796,603,327 | | | | | $ | 3,385,432 | | | | | $ | 11,715,071 | | | | | $ | 21,005,723 | | |
| Investments in affiliates, at value | | | | | 109,143,449 | | | | | | 1,111,190 | | | | | | 6,713,776 | | | | | | 42,485 | | |
| Deposits at broker for swap contracts | | | | | 880,000 | | | | | | — | | | | | | — | | | | | | — | | |
| Due from broker | | | | | 581,252 | | | | | | 5,414 | | | | | | 6,598 | | | | | | 60,120 | | |
| Securities lending income receivable | | | | | 53,975 | | | | | | 475 | | | | | | 521 | | | | | | 860 | | |
| Dividend receivable | | | | | 11 | | | | | | — | | | | | | — | | | | | | — | | |
| Total Assets | | | | | 907,262,014 | | | | | | 4,502,511 | | | | | | 18,435,966 | | | | | | 21,109,188 | | |
| Liabilities | | | | | | | | | | | | | | | | | | | | | | | | | |
| Collateral for investments on loan | | | | | 85,810,162 | | | | | | 259,144 | | | | | | 755,685 | | | | | | 2,812,287 | | |
| Due to broker | | | | | 1,675,613 | | | | | | 9,025 | | | | | | 43,247 | | | | | | 144,035 | | |
| Advisory fees payable | | | | | 367,937 | | | | | | 1,437 | | | | | | 5,995 | | | | | | 6,123 | | |
| Trustee fees payable | | | | | 4,080 | | | | | | 22 | | | | | | 82 | | | | | | 63 | | |
| Compliance fees payable | | | | | 867 | | | | | | 4 | | | | | | 18 | | | | | | 15 | | |
| Accrued expenses and other liabilities | | | | | 8,116 | | | | | | 65 | | | | | | 163 | | | | | | 93 | | |
| Total Liabilities | | | | | 87,866,775 | | | | | | 269,697 | | | | | | 805,190 | | | | | | 2,962,616 | | |
| Net Assets | | | | $ | 819,395,239 | | | | | $ | 4,232,814 | | | | | $ | 17,630,776 | | | | | $ | 18,146,572 | | |
| Composition of Net Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
| Paid-in capital | | | | $ | 841,661,553 | | | | | $ | 9,333,798 | | | | | $ | 17,895,284 | | | | | $ | 17,687,279 | | |
| Total distributable earnings/(accumulated loss) | | | | | (22,266,314) | | | | | | (5,100,984) | | | | | | (264,508) | | | | | | 459,293 | | |
| Net Assets | | | | $ | 819,395,239 | | | | | $ | 4,232,814 | | | | | $ | 17,630,776 | | | | | $ | 18,146,572 | | |
| NET ASSET VALUE PER SHARE | | | | | | | | | | | | | | | | | | | | | | | | | |
| Shares Outstanding (no par value, unlimited shares authorized) | | | | | 25,550,000 | | | | | | 150,000 | | | | | | 650,000 | | | | | | 650,000 | | |
| Net Asset Value Per Share | | | | $ | 32.07 | | | | | $ | 28.22 | | | | | $ | 27.12 | | | | | $ | 27.92 | | |
| Investments, at cost | | | | $ | 776,484,297 | | | | | $ | 3,142,741 | | | | | $ | 11,695,291 | | | | | $ | 20,701,978 | | |
| Investments in affiliates, at cost | | | | $ | 109,469,932 | | | | | $ | 1,107,057 | | | | | $ | 6,710,588 | | | | | $ | 42,642 | | |
(a)Market value of securities on loan | | | | $ | 130,691,744 | | | | | $ | 370,352 | | | | | $ | 1,003,642 | | | | | $ | 5,017,207 | | |
See notes to financial statements.
Statements of Assets and Liabilities (continued)
October 31, 2021 (unaudited)
| | | | IQ Hedge
Event-Driven
Tracker ETF | | | IQ Real
Return ETF | | | IQ S&P
High Yield
Low Volatility
Bond ETF | | | IQ Merger
Arbitrage ETF | |
| Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
Investments, at value (including securities on
loan)(a) | | | | $ | 20,687,358 | | | | | $ | 52,220,659 | | | | | $ | 37,623,857 | | | | | $ | 727,010,103 | | |
| Investments in affiliates, at value | | | | | — | | | | | | 13,724,654 | | | | | | — | | | | | | — | | |
| Cash | | | | | — | | | | | | — | | | | | | — | | | | | | 632,371 | | |
| Deposits at broker for swap contracts | | | | | — | | | | | | — | | | | | | — | | | | | | 4,850,000 | | |
| Due from broker | | | | | 7,221 | | | | | | — | | | | | | — | | | | | | 2,268,311 | | |
| Securities lending income receivable | | | | | 1,198 | | | | | | 4,013 | | | | | | 106 | | | | | | 5,286 | | |
| Dividend receivable | | | | | — | | | | | | — | | | | | | 2 | | | | | | 2,152,005 | | |
| Receivable for investments sold | | | | | — | | | | | | — | | | | | | 2,998,240 | | | | | | 14,499,144 | | |
| Interest receivable | | | | | — | | | | | | — | | | | | | 449,047 | | | | | | — | | |
| Reclaims receivable | | | | | — | | | | | | — | | | | | | — | | | | | | 38,299 | | |
| Total Assets | | | | | 20,695,777 | | | | | | 65,949,326 | | | | | | 41,071,252 | | | | | | 751,455,519 | | |
| Liabilities | | | | | | | | | | | | | | | | | | | | | | | | | |
| Collateral for investments on loan | | | | | 1,500,341 | | | | | | 10,655,988 | | | | | | 470,079 | | | | | | 14,357,365 | | |
| Advisory fees payable | | | | | 6,398 | | | | | | 9,360 | | | | | | 12,128 | | | | | | 465,381 | | |
| Due to broker | | | | | 2,276 | | | | | | — | | | | | | — | | | | | | 10,123,613 | | |
| Compliance fees payable | | | | | 11 | | | | | | 55 | | | | | | 90 | | | | | | 766 | | |
| Trustee fees payable | | | | | 5 | | | | | | 237 | | | | | | 1,189 | | | | | | 3,862 | | |
| Payable for investments purchased | | | | | — | | | | | | — | | | | | | 3,169,133 | | | | | | 2,266 | | |
| Cash due to custodian | | | | | — | | | | | | 1,163 | | | | | | — | | | | | | — | | |
Foreign currency due to custodian(b) | | | | | — | | | | | | — | | | | | | — | | | | | | 20,779 | | |
| Accrued expenses and other liabilities | | | | | 75 | | | | | | 441 | | | | | | 1,235 | | | | | | 8,869 | | |
| Total Liabilities | | | | | 1,509,106 | | | | | | 10,667,244 | | | | | | 3,653,854 | | | | | | 24,982,901 | | |
| Net Assets | | | | $ | 19,186,671 | | | | | $ | 55,282,082 | | | | | $ | 37,417,398 | | | | | $ | 726,472,618 | | |
| Composition of Net Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
| Paid-in capital | | | | $ | 18,892,793 | | | | | $ | 56,597,886 | | | | | $ | 38,056,887 | | | | | $ | 854,811,438 | | |
| Total distributable earnings/(accumulated loss) | | | | | 293,878 | | | | | | (1,315,804) | | | | | | (639,489) | | | | | | (128,338,820) | | |
| Net Assets | | | | $ | 19,186,671 | | | | | $ | 55,282,082 | | | | | $ | 37,417,398 | | | | | $ | 726,472,618 | | |
| NET ASSET VALUE PER SHARE | | | | | | | | | | | | | | | | | | | | | | | | | |
| Shares Outstanding (no par value, unlimited shares authorized) | | | | | 800,000 | | | | | | 2,000,000 | | | | | | 1,500,000 | | | | | | 22,100,000 | | |
| Net Asset Value Per Share | | | | $ | 23.98 | | | | | $ | 27.64 | | | | | $ | 24.94 | | | | | $ | 32.87 | | |
| Investments, at cost | | | | $ | 20,375,879 | | | | | $ | 51,500,341 | | | | | $ | 37,298,279 | | | | | $ | 718,912,055 | | |
| Investments in affiliates, at cost | | | | $ | — | | | | | $ | 13,903,264 | | | | | $ | — | | | | | $ | — | | |
(a)Market value of securities on loan | | | | $ | 1,468,714 | | | | | $ | 16,001,121 | | | | | $ | 526,467 | | | | | $ | 14,252,925 | | |
(b)Cost of foreign currency | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | (20,664) | | |
See notes to financial statements.
Statements of Assets and Liabilities (continued)
October 31, 2021 (unaudited)
| | | | IQ Global
Resources ETF | | | IQ U.S.
Real Estate
Small Cap ETF | | | IQ 50 Percent
Hedged FTSE
International
ETF | | | IQ Chaikin
U.S. Large Cap
ETF | |
| Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
Investments, at value (including securities on
loan)(a) | | | | $ | 30,409,440 | | | | | $ | 49,555,033 | | | | | $ | 329,430,673 | | | | | $ | 329,759,919 | | |
Foreign currency(b) | | | | | 13,124 | | | | | | — | | | | | | — | | | | | | — | | |
| Reclaims receivable | | | | | 55,488 | | | | | | — | | | | | | 550,493 | | | | | | — | | |
| Dividend receivable | | | | | 28,919 | | | | | | 54,189 | | | | | | 751,773 | | | | | | 126,394 | | |
| Securities lending income receivable | | | | | 264 | | | | | | 402 | | | | | | 3,370 | | | | | | 9,307 | | |
| Due from broker | | | | | 74 | | | | | | — | | | | | | — | | | | | | — | | |
| Receivable for investments sold | | | | | 6 | | | | | | — | | | | | | 759,245 | | | | | | — | | |
| Receivable for capital shares transactions | | | | | — | | | | | | — | | | | | | — | | | | | | 1,659 | | |
| Due from advisor | | | | | — | | | | | | — | | | | | | 42,776 | | | | | | — | | |
Unrealized appreciation on forward foreign currency
contracts | | | | | — | | | | | | — | | | | | | 969,794 | | | | | | — | | |
| Total Assets | | | | | 30,507,315 | | | | | | 49,609,624 | | | | | | 332,508,124 | | | | | | 329,897,279 | | |
| Liabilities | | | | | | | | | | | | | | | | | | | | | | | | | |
| Collateral for investments on loan | | | | | 430,838 | | | | | | 329,648 | | | | | | 7,551,732 | | | | | | 2,884,828 | | |
| Cash due to custodian | | | | | 17,085 | | | | | | — | | | | | | 741,929 | | | | | | — | | |
| Advisory fees payable | | | | | 6,778 | | | | | | 29,061 | | | | | | 94,634 | | | | | | 64,809 | | |
| Due to broker | | | | | 277 | | | | | | — | | | | | | — | | | | | | — | | |
| Trustee fees payable | | | | | 85 | | | | | | 211 | | | | | | 1,523 | | | | | | 1,392 | | |
| Compliance fees payable | | | | | 21 | | | | | | 22 | | | | | | 335 | | | | | | 290 | | |
| Payable for investments purchased | | | | | — | | | | | | — | | | | | | 863 | | | | | | — | | |
Foreign currency due to custodian(b) | | | | | — | | | | | | — | | | | | | 74,059 | | | | | | — | | |
Unrealized depreciation on forward foreign currency
contracts | | | | | — | | | | | | — | | | | | | 1,441,345 | | | | | | — | | |
| Accrued expenses and other liabilities | | | | | 188 | | | | | | 370 | | | | | | 3,192 | | | | | | 2,039 | | |
| Total Liabilities | | | | | 455,272 | | | | | | 359,312 | | | | | | 9,909,612 | | | | | | 2,953,358 | | |
| Net Assets | | | | $ | 30,052,043 | | | | | $ | 49,250,312 | | | | | $ | 322,598,512 | | | | | $ | 326,943,921 | | |
| Composition of Net Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
| Paid-in capital | | | | $ | 89,070,668 | | | | | $ | 53,505,455 | | | | | $ | 299,351,254 | | | | | $ | 335,963,676 | | |
| Total distributable earnings/(accumulated loss) | | | | | (59,018,625) | | | | | | (4,255,143) | | | | | | 23,247,258 | | | | | | (9,019,755) | | |
| Net Assets | | | | $ | 30,052,043 | | | | | $ | 49,250,312 | | | | | $ | 322,598,512 | | | | | $ | 326,943,921 | | |
| NET ASSET VALUE PER SHARE | | | | | | | | | | | | | | | | | | | | | | | | | |
| Shares Outstanding (no par value, unlimited shares authorized) | | | | | 1,000,000 | | | | | | 1,850,000 | | | | | | 12,900,000 | | | | | | 9,350,000 | | |
| Net Asset Value Per Share | | | | $ | 30.05 | | | | | $ | 26.62 | | | | | $ | 25.01 | | | | | $ | 34.97 | | |
| Investments, at cost | | | | $ | 27,467,671 | | | | | $ | 48,273,737 | | | | | $ | 291,177,977 | | | | | $ | 272,930,014 | | |
(a)Market value of securities on loan | | | | $ | 727,385 | | | | | $ | 1,779,137 | | | | | $ | 9,061,008 | | | | | $ | 4,982,308 | | |
(b)Cost of foreign currency | | | | $ | 13,126 | | | | | $ | — | | | | | $ | (76,262) | | | | | $ | — | | |
See notes to financial statements.
Statements of Assets and Liabilities (continued)
October 31, 2021 (unaudited)
| | | | IQ Chaikin
U.S. Small Cap
ETF | | | IQ 500
International
ETF | | | IQ Candriam
ESG
U.S. Equity ETF | | | IQ Candriam
ESG
International
Equity ETF | |
| Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
Investments, at value (including securities on
loan)(a) | | | | $ | 227,564,596 | | | | | $ | 250,231,420 | | | | | $ | 481,084,185 | | | | | $ | 215,121,814 | | |
| Dividend receivable | | | | | 54,927 | | | | | | 901,754 | | | | | | 402,029 | | | | | | 448,307 | | |
| Securities lending income receivable | | | | | 3,556 | | | | | | 10,054 | | | | | | 931 | | | | | | 1,654 | | |
| Receivable for investments sold | | | | | — | | | | | | 548,185 | | | | | | — | | | | | | 395,054 | | |
| Due from advisor | | | | | — | | | | | | — | | | | | | 3,044 | | | | | | 1,399 | | |
| Reclaims receivable | | | | | — | | | | | | 204,205 | | | | | | — | | | | | | 198,904 | | |
| Other assets | | | | | — | | | | | | 86 | | | | | | — | | | | | | — | | |
| Total Assets | | | | | 227,623,079 | | | | | | 251,895,704 | | | | | | 481,490,189 | | | | | | 216,167,132 | | |
| Liabilities | | | | | | | | | | | | | | | | | | | | | | | | | |
| Collateral for investments on loan | | | | | 2,755,533 | | | | | | 6,556,918 | | | | | | 201,975 | | | | | | 2,953,100 | | |
| Advisory fees payable | | | | | 65,817 | | | | | | 49,840 | | | | | | 37,049 | | | | | | 26,040 | | |
| Trustee fees payable | | | | | 1,074 | | | | | | 1,444 | | | | | | 2,389 | | | | | | — | | |
| Compliance fees payable | | | | | 196 | | | | | | 239 | | | | | | 421 | | | | | | 192 | | |
| Payable for investments purchased | | | | | — | | | | | | — | | | | | | — | | | | | | 328,015 | | |
| Due to broker | | | | | — | | | | | | 50 | | | | | | — | | | | | | — | | |
| Cash due to custodian | | | | | — | | | | | | 324,301 | | | | | | — | | | | | | — | | |
Foreign currency due to custodian(b) | | | | | — | | | | | | 617,086 | | | | | | — | | | | | | 202,830 | | |
| Accrued expenses and other liabilities | | | | | 1,347 | | | | | | 1,674 | | | | | | 2,555 | | | | | | 852 | | |
| Total Liabilities | | | | | 2,823,967 | | | | | | 7,551,552 | | | | | | 244,389 | | | | | | 3,511,029 | | |
| Net Assets | | | | $ | 224,799,112 | | | | | $ | 244,344,152 | | | | | $ | 481,245,800 | | | | | $ | 212,656,103 | | |
| Composition of Net Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
| Paid-in capital | | | | $ | 272,631,586 | | | | | $ | 216,015,951 | | | | | $ | 360,314,306 | | | | | $ | 176,782,267 | | |
| Total distributable earnings/(accumulated loss) | | | | | (47,832,474) | | | | | | 28,328,201 | | | | | | 120,931,494 | | | | | | 35,873,836 | | |
| Net Assets | | | | $ | 224,799,112 | | | | | $ | 244,344,152 | | | | | $ | 481,245,800 | | | | | $ | 212,656,103 | | |
| NET ASSET VALUE PER SHARE | | | | | | | | | | | | | | | | | | | | | | | | | |
| Shares Outstanding (no par value, unlimited shares authorized) | | | | | 6,200,000 | | | | | | 7,400,000 | | | | | | 12,000,000 | | | | | | 7,050,000 | | |
| Net Asset Value Per Share | | | | $ | 36.26 | | | | | $ | 33.02 | | | | | $ | 40.10 | | | | | $ | 30.16 | | |
| Investments, at cost | | | | $ | 203,413,739 | | | | | $ | 230,892,393 | | | | | $ | 374,638,388 | | | | | $ | 181,604,647 | | |
(a)Market value of securities on loan | | | | $ | 9,481,955 | | | | | $ | 6,539,412 | | | | | $ | 8,848,522 | | | | | $ | 3,557,911 | | |
(b)Cost of foreign currency | | | | $ | — | | | | | $ | (617,745) | | | | | $ | — | | | | | $ | (203,047) | | |
See notes to financial statements.
Statements of Assets and Liabilities (continued)
October 31, 2021 (unaudited)
| | | | IQ Healthy
Hearts ETF | | | IQ Engender
Equality ETF | | | IQ Cleaner
Transport ETF | | | IQ Clean
Oceans ETF | |
| Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
Investments, at value (including securities on
loan)(a) | | | | $ | 7,152,218 | | | | | $ | 5,029,109 | | | | | $ | 5,163,092 | | | | | $ | 5,104,947 | | |
| Reclaims receivable | | | | | 3,931 | | | | | | — | | | | | | — | | | | | | — | | |
| Dividend receivable | | | | | 3,303 | | | | | | 2,786 | | | | | | 910 | | | | | | 1,872 | | |
| Prepaid expenses | | | | | 957 | | | | | | — | | | | | | — | | | | | | — | | |
| Securities lending income receivable | | | | | 12 | | | | | | — | | | | | | — | | | | | | — | | |
| Receivable for capital shares transactions | | | | | — | | | | | | — | | | | | | 1,764 | | | | | | 1,908 | | |
| Total Assets | | | | | 7,160,421 | | | | | | 5,031,895 | | | | | | 5,165,766 | | | | | | 5,108,727 | | |
| Liabilities | | | | | | | | | | | | | | | | | | | | | | | | | |
| Advisory fees payable | | | | | 2,595 | | | | | | 650 | | | | | | 660 | | | | | | 656 | | |
Foreign currency due to custodian(b) | | | | | 80 | | | | | | — | | | | | | — | | | | | | — | | |
| Compliance fees payable | | | | | 6 | | | | | | 1 | | | | | | 1 | | | | | | 1 | | |
| Cash due to custodian | | | | | — | | | | | | 5,383 | | | | | | — | | | | | | 17,050 | | |
| Trustee fees payable | | | | | — | | | | | | 14 | | | | | | 13 | | | | | | 14 | | |
| Accrued expenses and other liabilities | | | | | 94 | | | | | | 14 | | | | | | 14 | | | | | | 14 | | |
| Total Liabilities | | | | | 2,775 | | | | | | 6,062 | | | | | | 688 | | | | | | 17,735 | | |
| Net Assets | | | | $ | 7,157,646 | | | | | $ | 5,025,833 | | | | | $ | 5,165,078 | | | | | $ | 5,090,992 | | |
| Composition of Net Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
| Paid-in capital | | | | $ | 6,323,156 | | | | | $ | 5,000,000 | | | | | $ | 5,005,301 | | | | | $ | 5,007,210 | | |
| Total distributable earnings/(accumulated loss) | | | | | 834,490 | | | | | | 25,833 | | | | | | 159,777 | | | | | | 83,782 | | |
| Net Assets | ��� | | | $ | 7,157,646 | | | | | $ | 5,025,833 | | | | | $ | 5,165,078 | | | | | $ | 5,090,992 | | |
| NET ASSET VALUE PER SHARE | | | | | | | | | | | | | | | | | | | | | | | | | |
| Shares Outstanding (no par value, unlimited shares authorized) | | | | | 250,000 | | | | | | 200,000 | | | | | | 200,000 | | | | | | 200,000 | | |
| Net Asset Value Per Share | | | | $ | 28.63 | | | | | $ | 25.13 | | | | | $ | 25.83 | | | | | $ | 25.45 | | |
| Investments, at cost | | | | $ | 6,604,114 | | | | | $ | 5,005,218 | | | | | $ | 5,001,043 | | | | | $ | 5,019,835 | | |
(a)Market value of securities on loan | | | | $ | 80,975 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
(b)Cost of foreign currency | | | | $ | (80) | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
See notes to financial statements.
For the Six Months Ended October 31, 2021 (unaudited)
| | | | 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 | | | | $ | 5,986,051 | | | | | $ | 25,936 | | | | | $ | 109,130 | | | | | $ | 154,063 | | |
| Dividend income from affiliates | | | | | 568,020 | | | | | | 4,809 | | | | | | 28,617 | | | | | | 225 | | |
| Securities lending income, net of borrower rebates | | | | | 347,392 | | | | | | 3,432 | | | | | | 4,946 | | | | | | 6,683 | | |
| Total investment income | | | | | 6,901,463 | | | | | | 34,177 | | | | | | 142,693 | | | | | | 160,971 | | |
| Expenses | | | | | | | | | | | | | | | | | | | | | | | | | |
| Advisory fees (See Note 3) | | | | | 3,055,637 | | | | | | 16,121 | | | | | | 67,109 | | | | | | 61,684 | | |
| Trustee fees | | | | | 19,293 | | | | | | 104 | | | | | | 433 | | | | | | 376 | | |
| Legal fees | | | | | 13,634 | | | | | | 74 | | | | | | 313 | | | | | | 281 | | |
| Compliance fees | | | | | 928 | | | | | | 5 | | | | | | 21 | | | | | | 20 | | |
| Miscellaneous | | | | | 578 | | | | | | 28 | | | | | | 29 | | | | | | 28 | | |
| Total expenses | | | | | 3,090,070 | | | | | | 16,332 | | | | | | 67,905 | | | | | | 62,389 | | |
| Waivers/Reimbursement (See Note 3) | | | | | (896,323) | | | | | | (7,524) | | | | | | (31,318) | | | | | | (28,785) | | |
| Net expenses | | | | | 2,193,747 | | | | | | 8,808 | | | | | | 36,587 | | | | | | 33,604 | | |
| Net investment income | | | | | 4,707,716 | | | | | | 25,369 | | | | | | 106,106 | | | | | | 127,367 | | |
| Realized and Unrealized Gain (Loss) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net realized gain (loss) from: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investment securities | | | | | 3,644,530 | | | | | | 61,592 | | | | | | 118,661 | | | | | | (4,576) | | |
| Investment in affiliates | | | | | (57,174) | | | | | | (214) | | | | | | (1,372) | | | | | | (21) | | |
| In-Kind redemptions | | | | | 3,421,156 | | | | | | — | | | | | | — | | | | | | 849,072 | | |
| Affiliates in-kind redemptions | | | | | 75,691 | | | | | | — | | | | | | — | | | | | | (15) | | |
| Swap transactions | | | | | (2,175,282) | | | | | | (15,074) | | | | | | (92,502) | | | | | | (147,871) | | |
| Net realized gain (loss) | | | | | 4,908,921 | | | | | | 46,304 | | | | | | 24,787 | | | | | | 696,589 | | |
| Net change in net unrealized appreciation (depreciation) on: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investment securities | | | | | (7,592,670) | | | | | | (106,742) | | | | | | (218,600) | | | | | | 87,624 | | |
| Investment in affiliates | | | | | (523,806) | | | | | | (4,495) | | | | | | (26,360) | | | | | | (176) | | |
| Net change in net unrealized appreciation (depreciation) | | | | | (8,116,476) | | | | | | (111,237) | | | | | | (244,960) | | | | | | 87,448 | | |
| Net realized and unrealized gain (loss) | | | | | (3,207,555) | | | | | | (64,933) | | | | | | (220,173) | | | | | | 784,037 | | |
| Net Increase (Decrease) in Net Assets Resulting from Operations | | | | $ | 1,500,161 | | | | | $ | (39,564) | | | | | $ | (114,067) | | | | | $ | 911,404 | | |
See notes to financial statements.
Statements of Operations (continued)
For the Six Months Ended October 31, 2021 (unaudited)
| | | | IQ Hedge
Event-Driven
Tracker ETF | | | IQ Real
Return ETF | | | IQ S&P High
Yield Low
Volatility Bond
ETF | | | IQ Merger
Arbitrage ETF | |
| Investment Income | | | | | | | | | | | | | | | | | | | | | | | | | |
| Dividend income* | | | | $ | 127,973 | | | | | $ | 59,175 | | | | | $ | 22 | | | | | $ | 3,303,019 | | |
| Dividend income from affiliates | | | | | 14 | | | | | | 63,183 | | | | | | — | | | | | | 19,643 | | |
| Interest income | | | | | — | | | | | | — | | | | | | 967,491 | | | | | | — | | |
| Securities lending income, net of borrower rebates | | | | | 4,928 | | | | | | 25,486 | | | | | | 1,053 | | | | | | 29,864 | | |
| Total investment income | | | | | 132,915 | | | | | | 147,844 | | | | | | 968,566 | | | | | | 3,352,526 | | |
| Expenses | | | | | | | | | | | | | | | | | | | | | | | | | |
| Advisory fees (See Note 3) | | | | | 51,370 | | | | | | 131,150 | | | | | | 108,628 | | | | | | 2,799,747 | | |
| Trustee fees | | | | | 248 | | | | | | 1,294 | | | | | | 2,214 | | | | | | 17,919 | | |
| Legal fees | | | | | 179 | | | | | | 925 | | | | | | 1,660 | | | | | | 13,018 | | |
| Compliance fees | | | | | 12 | | | | | | 63 | | | | | | 109 | | | | | | 881 | | |
| Miscellaneous | | | | | 29 | | | | | | 29 | | | | | | 202 | | | | | | 1,082 | | |
| Total expenses | | | | | 51,838 | | | | | | 133,461 | | | | | | 112,813 | | | | | | 2,832,647 | | |
| Waivers/Reimbursement (See Note 3) | | | | | (23,973) | | | | | | (76,504) | | | | | | (4,185) | | | | | | — | | |
| Net expenses | | | | | 27,865 | | | | | | 56,957 | | | | | | 108,628 | | | | | | 2,832,647 | | |
| Net investment income | | | | | 105,050 | | | | | | 90,887 | | | | | | 859,938 | | | | | | 519,879 | | |
| Realized and Unrealized Gain (Loss) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net realized gain (loss) from: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investment securities | | | | | (26,481) | | | | | | 173,935 | | | | | | 259,745 | | | | | | (1,284,078) | | |
| Investment in affiliates | | | | | 2 | | | | | | — | | | | | | — | | | | | | (25,758) | | |
| In-Kind redemptions | | | | | 103,298 | | | | | | — | | | | | | — | | | | | | 34,432,970 | | |
| Affiliates in-kind redemptions | | | | | — | | | | | | — | | | | | | 1,795,691 | | | | | | — | | |
| Swap transactions | | | | | (8,124) | | | | | | — | | | | | | — | | | | | | (18,397,310) | | |
| Foreign currency transactions | | | | | — | | | | | | — | | | | | | — | | | | | | (167,713) | | |
| Net realized gain (loss) | | | | | 68,695 | | | | | | 173,935 | | | | | | 2,055,436 | | | | | | 14,558,111 | | |
| Net change in net unrealized appreciation (depreciation) on: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investment securities | | | | | 18,287 | | | | | | 461,724 | | | | | | (1,681,559) | | | | | | (31,759,524) | | |
| Investment in affiliates | | | | | (16) | | | | | | (57,192) | | | | | | — | | | | | | (3,628) | | |
| Foreign currency translations | | | | | — | | | | | | — | | | | | | — | | | | | | (15,257) | | |
| Net change in net unrealized appreciation (depreciation) | | | | | 18,271 | | | | | | 404,532 | | | | | | (1,681,559) | | | | | | (31,778,409) | | |
| Net realized and unrealized gain (loss) | | | | | 86,966 | | | | | | 578,467 | | | | | | 373,877 | | | | | | (17,220,298) | | |
| Net Increase (Decrease) in Net Assets Resulting from Operations | | | | $ | 192,016 | | | | | $ | 669,354 | | | | | $ | 1,233,815 | | | | | $ | (16,700,419) | | |
| *Net of foreign taxes withheld of: | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 42,411 | | |
See notes to financial statements.
Statements of Operations (continued)
For the Six Months Ended October 31, 2021 (unaudited)
| | | | IQ Global
Resources ETF | | | IQ U.S. Real
Estate Small
Cap ETF | | | IQ 50 Percent
Hedged FTSE
International
ETF | | | IQ Chaikin U.S.
Large Cap ETF | |
| Investment Income | | | | | | | | | | | | | | | | | | | | | | | | | |
| Dividend income* | | | | $ | 483,012 | | | | | $ | 1,123,268 | | | | | $ | 4,662,973 | | | | | $ | 1,971,358 | | |
| Dividend income from affiliates | | | | | 4,089 | | | | | | — | | | | | | — | | | | | | — | | |
| Securities lending income, net of borrower rebates | | | | | 1,467 | | | | | | 3,440 | | | | | | 54,617 | | | | | | 31,429 | | |
| Total investment income | | | | | 488,568 | | | | | | 1,126,708 | | | | | | 4,717,590 | | | | | | 2,002,787 | | |
| Expenses | | | | | | | | | | | | | | | | | | | | | | | | | |
| Advisory fees (See Note 3) | | | | | 68,449 | | | | | | 185,826 | | | | | | 564,532 | | | | | | 395,303 | | |
| Trustee fees | | | | | 509 | | | | | | 1,284 | | | | | | 7,610 | | | | | | 7,384 | | |
| Legal fees | | | | | 363 | | | | | | 949 | | | | | | 5,557 | | | | | | 5,485 | | |
| Compliance fees | | | | | 25 | | | | | | 32 | | | | | | 369 | | | | | | 372 | | |
| Miscellaneous | | | | | 28 | | | | | | 28 | | | | | | 566 | | | | | | 28 | | |
| Total expenses | | | | | 69,374 | | | | | | 188,119 | | | | | | 578,634 | | | | | | 408,572 | | |
| Waivers/Reimbursement (See Note 3) | | | | | (310) | | | | | | — | | | | | | (256,043) | | | | | | (13,270) | | |
| Net expenses | | | | | 69,064 | | | | | | 188,119 | | | | | | 322,591 | | | | | | 395,302 | | |
| Net investment income | | | | | 419,504 | | | | | | 938,589 | | | | | | 4,394,999 | | | | | | 1,607,485 | | |
| Realized and Unrealized Gain (Loss) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net realized gain (loss) from: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investment securities | | | | | 1,168,183 | | | | | | 1,174,185 | | | | | | (1,151,887) | | | | | | (9,820) | | |
| Investment in affiliates | | | | | (7,100) | | | | | | — | | | | | | — | | | | | | — | | |
| In-Kind redemptions | | | | | — | | | | | | 2,308,524 | | | | | | — | | | | | | 1,647,064 | | |
| Swap transactions | | | | | (288,873) | | | | | | — | | | | | | — | | | | | | — | | |
| Forward foreign currency contracts | | | | | — | | | | | | — | | | | | | 2,920,550 | | | | | | — | | |
| Foreign currency transactions | | | | | (3,225) | | | | | | — | | | | | | (25,820) | | | | | | — | | |
| Net realized gain (loss) | | | | | 868,985 | | | | | | 3,482,709 | | | | | | 1,742,843 | | | | | | 1,637,244 | | |
| Net change in net unrealized appreciation (depreciation) on: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investment securities | | | | | (97,109) | | | | | | (1,245,093) | | | | | | 6,053,567 | | | | | | 21,023,152 | | |
| Investment in affiliates | | | | | 3,175 | | | | | | — | | | | | | — | | | | | | — | | |
| Forward foreign currency contracts | | | | | — | | | | | | — | | | | | | 2,077,868 | | | | | | — | | |
| Foreign currency translations | | | | | (2,412) | | | | | | — | | | | | | (40,223) | | | | | | — | | |
| Net change in net unrealized appreciation (depreciation) | | | | | (96,346) | | | | | | (1,245,093) | | | | | | 8,091,212 | | | | | | 21,023,152 | | |
| Net realized and unrealized gain (loss) | | | | | 772,639 | | | | | | 2,237,616 | | | | | | 9,834,055 | | | | | | 22,660,396 | | |
| Net Increase (Decrease) in Net Assets Resulting from Operations | | | | $ | 1,192,143 | | | | | $ | 3,176,205 | | | | | $ | 14,229,054 | | | | | $ | 24,267,881 | | |
| *Net of foreign taxes withheld of: | | | | $ | 28,764 | | | | | $ | — | | | | | $ | 427,037 | | | | | $ | — | | |
See notes to financial statements.
Statements of Operations (continued)
For the Six Months Ended October 31, 2021 (unaudited)
| | | | IQ Chaikin U.S.
Small Cap ETF | | | IQ 500
International
ETF | | | IQ Candriam
ESG U.S. Equity
ETF | | | IQ Candriam
ESG
International
Equity ETF | |
| Investment Income | | | | | | | | | | | | | | | | | | | | | | | | | |
| Dividend income* | | | | $ | 1,682,195 | | | | | $ | 4,305,186 | | | | | $ | 2,978,720 | | | | | $ | 3,051,384 | | |
| Securities lending income, net of borrower rebates | | | | | 20,086 | | | | | | 104,003 | | | | | | 5,494 | | | | | | 31,168 | | |
| Total investment income | | | | | 1,702,281 | | | | | | 4,409,189 | | | | | | 2,984,214 | | | | | | 3,082,552 | | |
| Expenses | | | | | | | | | | | | | | | | | | | | | | | | | |
| Advisory fees (See Note 3) | | | | | 372,112 | | | | | | 309,531 | | | | | | 207,230 | | | | | | 149,834 | | |
| Trustee fees | | | | | 5,044 | | | | | | 6,063 | | | | | | 10,196 | | | | | | 4,663 | | |
| Legal fees | | | | | 3,801 | | | | | | 4,509 | | | | | | 7,487 | | | | | | 3,449 | | |
| Compliance fees | | | | | 256 | | | | | | 306 | | | | | | 503 | | | | | | 230 | | |
| Miscellaneous | | | | | 28 | | | | | | 29 | | | | | | 28 | | | | | | 29 | | |
| Total expenses | | | | | 381,241 | | | | | | 320,438 | | | | | | 225,444 | | | | | | 158,205 | | |
| Waivers/Reimbursement (See Note 3) | | | | | (9,130) | | | | | | (10,906) | | | | | | (18,218) | | | | | | (8,371) | | |
| Net expenses | | | | | 372,111 | | | | | | 309,532 | | | | | | 207,226 | | | | | | 149,834 | | |
| Net investment income | | | | | 1,330,170 | | | | | | 4,099,657 | | | | | | 2,776,988 | | | | | | 2,932,718 | | |
| Realized and Unrealized Gain (Loss) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net realized gain (loss) from: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investment securities | | | | | 1,998,054 | | | | | | (1,585,672) | | | | | | (269,560) | | | | | | (234,114) | | |
| In-Kind redemptions | | | | | 2,996,533 | | | | | | 12,817,070 | | | | | | 15,139,170 | | | | | | 2,289,023 | | |
| Foreign currency transactions | | | | | — | | | | | | (68,489) | | | | | | — | | | | | | (22,359) | | |
| Net realized gain (loss) | | | | | 4,994,587 | | | | | | 11,162,909 | | | | | | 14,869,610 | | | | | | 2,032,550 | | |
| Net change in net unrealized appreciation (depreciation) on: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investment securities | | | | | 2,979,409 | | | | | | (6,775,634) | | | | | | 40,290,989 | | | | | | 4,232,597 | | |
| Foreign currency translations | | | | | — | | | | | | (25,136) | | | | | | — | | | | | | (13,412) | | |
| Net change in net unrealized appreciation (depreciation) | | | | | 2,979,409 | | | | | | (6,800,770) | | | | | | 40,290,989 | | | | | | 4,219,185 | | |
| Net realized and unrealized gain (loss) | | | | | 7,973,996 | | | | | | 4,362,139 | | | | | | 55,160,599 | | | | | | 6,251,735 | | |
| Net Increase (Decrease) in Net Assets Resulting from Operations | | | | $ | 9,304,166 | | | | | $ | 8,461,796 | | | | | $ | 57,937,587 | | | | | $ | 9,184,453 | | |
| *Net of foreign taxes withheld of: | | | | $ | 754 | | | | | $ | 479,007 | | | | | $ | — | | | | | $ | 317,876 | | |
See notes to financial statements.
Statements of Operations (continued)
For the Six Months Ended October 31, 2021 (unaudited)
| | | | IQ Healthy
Hearts ETF | | | IQ Engender
Equality ETF** | | | IQ Cleaner
Transport
ETF** | | | IQ Clean
Oceans ETF** | |
| Investment Income | | | | | | | | | | | | | | | | | | | | | | | | | |
| Dividend income* | | | | $ | 47,063 | | | | | $ | 2,786 | | | | | $ | 911 | | | | | $ | 1,872 | | |
| Securities lending income, net of borrower rebates | | | | | 119 | | | | | | — | | | | | | — | | | | | | — | | |
| Total investment income | | | | | 47,182 | | | | | | 2,786 | | | | | | 911 | | | | | | 1,872 | | |
| Expenses | | | | | | | | | | | | | | | | | | | | | | | | | |
| Advisory fees (See Note 3) | | | | | 15,755 | | | | | | 678 | | | | | | 688 | | | | | | 685 | | |
| Trustee fees | | | | | 163 | | | | | | 14 | | | | | | 14 | | | | | | 14 | | |
| Legal fees | | | | | 123 | | | | | | 10 | | | | | | 11 | | | | | | 10 | | |
| Compliance fees | | | | | 8 | | | | | | 1 | | | | | | 1 | | | | | | 1 | | |
| Miscellaneous | | | | | 28 | | | | | | 3 | | | | | | 3 | | | | | | 3 | | |
| Total expenses | | | | | 16,077 | | | | | | 706 | | | | | | 717 | | | | | | 713 | | |
| Waivers/Reimbursement (See Note 3) | | | | | (323) | | | | | | (28) | | | | | | (28) | | | | | | (28) | | |
| Net expenses | | | | | 15,754 | | | | | | 678 | | | | | | 689 | | | | | | 685 | | |
| Net investment income | | | | | 31,428 | | | | | | 2,108 | | | | | | 222 | | | | | | 1,187 | | |
| Realized and Unrealized Gain (Loss) | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net realized gain (loss) from: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investment securities | | | | | (60,343) | | | | | | (166) | | | | | | — | | | | | | (131) | | |
| In-Kind redemptions | | | | | 380,159 | | | | | | — | | | | | | — | | | | | | — | | |
| Foreign currency transactions | | | | | (787) | | | | | | — | | | | | | (2,494) | | | | | | (2,386) | | |
| Net realized gain (loss) | | | | | 319,029 | | | | | | (166) | | | | | | (2,494) | | | | | | (2,517) | | |
| Net change in net unrealized appreciation (depreciation) on: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investment securities | | | | | 265,158 | | | | | | 23,891 | | | | | | 162,049 | | | | | | 85,112 | | |
| Foreign currency translations | | | | | (19) | | | | | | — | | | | | | — | | | | | | — | | |
| Net change in net unrealized appreciation (depreciation) | | | | | 265,139 | | | | | | 23,891 | | | | | | 162,049 | | | | | | 85,112 | | |
| Net realized and unrealized gain (loss) | | | | | 584,168 | | | | | | 23,725 | | | | | | 159,555 | | | | | | 82,595 | | |
| Net Increase (Decrease) in Net Assets Resulting from Operations | | | | $ | 615,596 | | | | | $ | 25,833 | | | | | $ | 159,777 | | | | | $ | 83,782 | | |
| *Net of foreign taxes withheld of: | | | | $ | 3,089 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
**
Commencement of operations October 21, 2021.
See notes to financial statements.
Statements of Changes in Net Assets
| | | | IQ Hedge Multi-Strategy
Tracker ETF | | | IQ Hedge Macro
Tracker ETF | |
| | | | For the Six
Months Ended
October 31,
2021
(unaudited) | | | For the
Year Ended
April 30, 2021 | | | For the Six
Months Ended
October 31,
2021
(unaudited) | | | For the
Year Ended
April 30, 2021 | |
| Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | $ | 4,707,716 | | | | | $ | 10,410,119 | | | | | $ | 25,369 | | | | | $ | 51,037 | | |
| Net realized gain (loss) | | | | | 4,908,921 | | | | | | 47,879,579 | | | | | | 46,304 | | | | | | 152,179 | | |
| Net change in net unrealized appreciation (depreciation) | | | | | (8,116,476) | | | | | | 24,889,608 | | | | | | (111,237) | | | | | | 348,742 | | |
| Net increase (decrease) in net assets resulting from operations | | | | | 1,500,161 | | | | | | 83,179,306 | | | | | | (39,564) | | | | | | 551,958 | | |
| Distributions to Shareholders | | | | | — | | | | | | (15,953,112) | | | | | | — | | | | | | (106,851) | | |
| Capital Share Transactions | | | | | | | | | | | | | | | | | | | | | | | | | |
| Proceeds from shares created | | | | | 60,833,238 | | | | | | 369,110,615 | | | | | | — | | | | | | — | | |
| Cost of shares redeemed | | | | | (38,515,461) | | | | | | (380,419,895) | | | | | | — | | | | | | — | | |
| Net increase (decrease) from capital share transactions | | | | | 22,317,777 | | | | | | (11,309,280) | | | | | | — | | | | | | — | | |
| Total increase (decrease) in net assets | | | | | 23,817,938 | | | | | | 55,916,914 | | | | | | (39,564) | | | | | | 445,107 | | |
| Net Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
| Beginning of period | | | | | 795,577,301 | | | | | | 739,660,387 | | | | | | 4,272,378 | | | | | | 3,827,271 | | |
| End of period | | | | $ | 819,395,239 | | | | | $ | 795,577,301 | | | | | $ | 4,232,814 | | | | | $ | 4,272,378 | | |
| Changes in Shares Outstanding | | | | | | | | | | | | | | | | | | | | | | | | | |
| Shares outstanding, beginning of period | | | | | 24,850,000 | | | | | | 25,150,000 | | | | | | 150,000 | | | | | | 150,000 | | |
| Shares created | | | | | 1,900,000 | | | | | | 11,800,000 | | | | | | — | | | | | | — | | |
| Shares redeemed | | | | | (1,200,000) | | | | | | (12,100,000) | | | | | | — | | | | | | — | | |
| Shares outstanding, end of period | | | | | 25,550,000 | | | | | | 24,850,000 | | | | | | 150,000 | | | | | | 150,000 | | |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
| | | | IQ Hedge Market Neutral
Tracker ETF | | | IQ Hedge Long/Short
Tracker ETF | |
| | | | For the Six
Months Ended
October 31,
2021
(unaudited) | | | For the
Year Ended
April 30, 2021 | | | For the Six
Months Ended
October 31,
2021
(unaudited) | | | For the
Year Ended
April 30, 2021 | |
| Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | $ | 106,106 | | | | | $ | 266,191 | | | | | $ | 127,367 | | | | | $ | 201,750 | | |
| Net realized gain (loss) | | | | | 24,787 | | | | | | 845,249 | | | | | | 696,589 | | | | | | 2,270,814 | | |
| Net change in net unrealized appreciation (depreciation) | | | | | (244,960) | | | | | | 376,503 | | | | | | 87,448 | | | | | | (51,038) | | |
| Net increase (decrease) in net assets resulting from operations | | | | | (114,067) | | | | | | 1,487,943 | | | | | | 911,404 | | | | | | 2,421,526 | | |
| Distributions to Shareholders | | | | | — | | | | | | (341,520) | | | | | | — | | | | | | (181,041) | | |
| Capital Share Transactions | | | | | | | | | | | | | | | | | | | | | | | | | |
| Proceeds from shares created | | | | | — | | | | | | 12,150,236 | | | | | | 60,849,190 | | | | | | 13,498,911 | | |
| Cost of shares redeemed | | | | | — | | | | | | (13,508,262) | | | | | | (52,896,047) | | | | | | (17,156,549) | | |
| Net increase (decrease) from capital share transactions | | | | | — | | | | | | (1,358,026) | | | | | | 7,953,143 | | | | | | (3,657,638) | | |
| Total increase (decrease) in net assets | | | | | (114,067) | | | | | | (211,603) | | | | | | 8,864,547 | | | | | | (1,417,153) | | |
| Net Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
| Beginning of period | | | | | 17,744,843 | | | | | | 17,956,446 | | | | | | 9,282,025 | | | | | | 10,699,178 | | |
| End of period | | | | $ | 17,630,776 | | | | | $ | 17,744,843 | | | | | $ | 18,146,572 | | | | | $ | 9,282,025 | | |
| Changes in Shares Outstanding | | | | | | | | | | | | | | | | | | | | | | | | | |
| Shares outstanding, beginning of period | | | | | 650,000 | | | | | | 700,000 | | | | | | 350,000 | | | | | | 500,000 | | |
| Shares created | | | | | — | | | | | | 450,000 | | | | | | 2,250,000 | | | | | | 550,000 | | |
| Shares redeemed | | | | | — | | | | | | (500,000) | | | | | | (1,950,000) | | | | | | (700,000) | | |
| Shares outstanding, end of period | | | | | 650,000 | | | | | | 650,000 | | | | | | 650,000 | | | | | | 350,000 | | |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
| | | | IQ Hedge Event-Driven
Tracker ETF | | | IQ Real
Return ETF | |
| | | | For the Six
Months Ended
October 31,
2021
(unaudited) | | | For the
Year Ended
April 30, 2021 | | | For the Six
Months Ended
October 31,
2021
(unaudited) | | | For the
Year Ended
April 30, 2021 | |
| Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | $ | 105,050 | | | | | $ | 160,764 | | | | | $ | 90,887 | | | | | $ | 290,037 | | |
| Net realized gain (loss) | | | | | 68,695 | | | | | | 541,346 | | | | | | 173,935 | | | | | | 307,041 | | |
| Net change in net unrealized appreciation (depreciation) | | | | | 18,271 | | | | | | 556,061 | | | | | | 404,532 | | | | | | 596,264 | | |
| Net increase (decrease) in net assets resulting from operations | | | | | 192,016 | | | | | | 1,258,171 | | | | | | 669,354 | | | | | | 1,193,342 | | |
| Distributions to Shareholders | | | | | — | | | | | | (209,892) | | | | | | — | | | | | | (511,575) | | |
| Capital Share Transactions | | | | | | | | | | | | | | | | | | | | | | | | | |
| Proceeds from shares created | | | | | 10,681,862 | | | | | | 8,147,454 | | | | | | 1,377,395 | | | | | | 1,365,759 | | |
| Cost of shares redeemed | | | | | (1,173,992) | | | | | | (8,062,646) | | | | | | — | | | | | | — | | |
| Net increase (decrease) from capital share transactions | | | | | 9,507,870 | | | | | | 84,808 | | | | | | 1,377,395 | | | | | | 1,365,759 | | |
| Total increase (decrease) in net assets | | | | | 9,699,886 | | | | | | 1,133,087 | | | | | | 2,046,749 | | | | | | 2,047,526 | | |
| Net Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
| Beginning of period | | | | | 9,486,785 | | | | | | 8,353,698 | | | | | | 53,235,333 | | | | | | 51,187,807 | | |
| End of period | | | | $ | 19,186,671 | | | | | $ | 9,486,785 | | | | | $ | 55,282,082 | | | | | $ | 53,235,333 | | |
| Changes in Shares Outstanding | | | | | | | | | | | | | | | | | | | | | | | | | |
| Shares outstanding, beginning of period | | | | | 400,000 | | | | | | 400,000 | | | | | | 1,950,000 | | | | | | 1,900,000 | | |
| Shares created | | | | | 450,000 | | | | | | 350,000 | | | | | | 50,000 | | | | | | 50,000 | | |
| Shares redeemed | | | | | (50,000) | | | | | | (350,000) | | | | | | — | | | | | | — | | |
| Shares outstanding, end of period | | | | | 800,000 | | | | | | 400,000 | | | | | | 2,000,000 | | | | | | 1,950,000 | | |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
| | | | IQ S&P High Yield Low
Volatility Bond ETF | | | IQ Merger
Arbitrage ETF | |
| | | | For the Six
Months Ended
October 31,
2021
(unaudited) | | | For the
Year Ended
April 30, 2021 | | | For the Six
Months Ended
October 31,
2021
(unaudited) | | | For the
Year Ended
April 30, 2021 | |
| Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | $ | 859,938 | | | | | $ | 3,727,829 | | | | | $ | 519,879 | | | | | $ | 6,746,083 | | |
| Net realized gain (loss) | | | | | 2,055,436 | | | | | | 1,460,375 | | | | | | 14,558,111 | | | | | | (62,368,613) | | |
| Net change in net unrealized appreciation (depreciation) | | | | | (1,681,559) | | | | | | 2,569,537 | | | | | | (31,778,409) | | | | | | 117,631,909 | | |
| Net increase (decrease) in net assets resulting from operations | | | | | 1,233,815 | | | | | | 7,757,741 | | | | | | (16,700,419) | | | | | | 62,009,379 | | |
| Distributions to Shareholders | | | | | (1,140,014) | | | | | | (3,749,100) | | | | | | — | | | | | | (16,966,679) | | |
| Capital Share Transactions | | | | | | | | | | | | | | | | | | | | | | | | | |
| Proceeds from shares created | | | | | — | | | | | | 55,988,259 | | | | | | 201,132,961 | | | | | | 452,464,996 | | |
| Cost of shares redeemed | | | | | (68,898,459) | | | | | | (5,069,562) | | | | | | (204,238,504) | | | | | | (474,810,890) | | |
| Net increase (decrease) from capital share transactions | | | | | (68,898,459) | | | | | | 50,918,697 | | | | | | (3,105,543) | | | | | | (22,345,894) | | |
| Total increase (decrease) in net assets | | | | | (68,804,658) | | | | | | 54,927,338 | | | | | | (19,805,962) | | | | | | 22,696,806 | | |
| Net Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
| Beginning of period | | | | | 106,222,056 | | | | | | 51,294,718 | | | | | | 746,278,580 | | | | | | 723,581,774 | | |
| End of period | | | | $ | 37,417,398 | | | | | $ | 106,222,056 | | | | | $ | 726,472,618 | | | | | $ | 746,278,580 | | |
| Changes in Shares Outstanding | | | | | | | | | | | | | | | | | | | | | | | | | |
| Shares outstanding, beginning of period | | | | | 4,250,000 | | | | | | 2,150,000 | | | | | | 22,200,000 | | | | | | 22,950,000 | | |
| Shares created | | | | | — | | | | | | 2,300,000 | | | | | | 6,000,000 | | | | | | 13,500,000 | | |
| Shares redeemed | | | | | (2,750,000) | | | | | | (200,000) | | | | | | (6,100,000) | | | | | | (14,250,000) | | |
| Shares outstanding, end of period | | | | | 1,500,000 | | | | | | 4,250,000 | | | | | | 22,100,000 | | | | | | 22,200,000 | | |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
| | | | IQ Global
Resources ETF | | | IQ U.S. Real Estate
Small Cap ETF | |
| | | | For the Six
Months Ended
October 31,
2021
(unaudited) | | | For the
Year Ended
April 30, 2021 | | | For the Six
Months Ended
October 31,
2021
(unaudited) | | | For the
Year Ended
April 30, 2021 | |
| Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | $ | 419,504 | | | | | $ | 601,016 | | | | | $ | 938,589 | | | | | $ | 707,336 | | |
| Net realized gain (loss) | | | | | 868,985 | | | | | | (1,675,698) | | | | | | 3,482,709 | | | | | | (3,148,029) | | |
| Net change in net unrealized appreciation (depreciation) | | | | | (96,346) | | | | | | 6,772,770 | | | | | | (1,245,093) | | | | | | 21,157,244 | | |
| Net increase (decrease) in net assets resulting from operations | | | | | 1,192,143 | | | | | | 5,698,088 | | | | | | 3,176,205 | | | | | | 18,716,551 | | |
| Distributions to Shareholders | | | | | — | | | | | | (2,041,648) | | | | | | (951,006) | | | | | | (662,106) | | |
| Distributions to Shareholders from Return of Capital | | | | | — | | | | | | — | | | | | | — | | | | | | (1,029,743) | | |
| Total distributions to shareholders | | | | | — | | | | | | (2,041,648) | | | | | | (951,006) | | | | | | (1,691,849) | | |
| Capital Share Transactions | | | | | | | | | | | | | | | | | | | | | | | | | |
| Proceeds from shares created | | | | | 8,839,391 | | | | | | — | | | | | | 6,450,444 | | | | | | 3,041,462 | | |
| Cost of shares redeemed | | | | | — | | | | | | (6,584,287) | | | | | | (11,734,467) | | | | | | (8,459,347) | | |
| Net increase (decrease) from capital share transactions | | | | | 8,839,391 | | | | | | (6,584,287) | | | | | | (5,284,023) | | | | | | (5,417,885) | | |
| Total increase (decrease) in net assets | | | | | 10,031,534 | | | | | | (2,927,847) | | | | | | (3,058,824) | | | | | | 11,606,817 | | |
| Net Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
| Beginning of period | | | | | 20,020,509 | | | | | | 22,948,356 | | | | | | 52,309,136 | | | | | | 40,702,319 | | |
| End of period | | | | $ | 30,052,043 | | | | | $ | 20,020,509 | | | | | $ | 49,250,312 | | | | | $ | 52,309,136 | | |
| Changes in Shares Outstanding | | | | | | | | | | | | | | | | | | | | | | | | | |
| Shares outstanding, beginning of period | | | | | 700,000 | | | | | | 950,000 | | | | | | 2,050,000 | | | | | | 2,350,000 | | |
| Shares created | | | | | 300,000 | | | | | | — | | | | | | 250,000 | | | | | | 150,000 | | |
| Shares redeemed | | | | | — | | | | | | (250,000) | | | | | | (450,000) | | | | | | (450,000) | | |
| Shares outstanding, end of period | | | | | 1,000,000 | | | | | | 700,000 | | | | | | 1,850,000 | | | | | | 2,050,000 | | |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
| | | | IQ 50 Percent Hedged FTSE
International ETF | | | IQ Chaikin U.S.
Large Cap ETF | |
| | | | For the Six
Months Ended
October 31,
2021
(unaudited) | | | For the
Year Ended
April 30, 2021 | | | For the Six
Months Ended
October 31,
2021
(unaudited) | | | For the
Year Ended
April 30, 2021 | |
| Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | $ | 4,394,999 | | | | | $ | 6,722,049 | | | | | $ | 1,607,485 | | | | | $ | 3,788,069 | | |
| Net realized gain (loss) | | | | | 1,742,843 | | | | | | (10,417,433) | | | | | | 1,637,244 | | | | | | 79,199,205 | | |
| Net change in net unrealized appreciation (depreciation) | | | | | 8,091,212 | | | | | | 92,700,903 | | | | | | 21,023,152 | | | | | | 25,070,548 | | |
| Net increase (decrease) in net assets resulting from operations | | | | | 14,229,054 | | | | | | 89,005,519 | | | | | | 24,267,881 | | | | | | 108,057,822 | | |
| Distributions to Shareholders | | | | | (5,704,148) | | | | | | (6,183,285) | | | | | | (1,431,703) | | | | | | (4,106,799) | | |
| Capital Share Transactions | | | | | | | | | | | | | | | | | | | | | | | | | |
| Proceeds from shares created | | | | | 3,685,851 | | | | | | 22,964,165 | | | | | | 7,023,595 | | | | | | 187,813,882 | | |
| Cost of shares redeemed | | | | | — | | | | | | (44,973,441) | | | | | | (8,523,526) | | | | | | (206,787,024) | | |
| Net increase (decrease) from capital share transactions | | | | | 3,685,851 | | | | | | (22,009,276) | | | | | | (1,499,931) | | | | | | (18,973,142) | | |
| Total increase (decrease) in net assets | | | | | 12,210,757 | | | | | | 60,812,958 | | | | | | 21,336,247 | | | | | | 84,977,881 | | |
| Net Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
| Beginning of period | | | | | 310,387,755 | | | | | | 249,574,797 | | | | | | 305,607,674 | | | | | | 220,629,793 | | |
| End of period | | | | $ | 322,598,512 | | | | | $ | 310,387,755 | | | | | $ | 326,943,921 | | | | | $ | 305,607,674 | | |
| Changes in Shares Outstanding | | | | | | | | | | | | | | | | | | | | | | | | | |
| Shares outstanding, beginning of period | | | | | 12,750,000 | | | | | | 13,850,000 | | | | | | 9,400,000 | | | | | | 10,050,000 | | |
| Shares created | | | | | 150,000 | | | | | | 1,150,000 | | | | | | 200,000 | | | | | | 6,100,000 | | |
| Shares redeemed | | | | | — | | | | | | (2,250,000) | | | | | | (250,000) | | | | | | (6,750,000) | | |
| Shares outstanding, end of period | | | | | 12,900,000 | | | | | | 12,750,000 | | | | | | 9,350,000 | | | | | | 9,400,000 | | |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
| | | | IQ Chaikin U.S.
Small Cap ETF | | | IQ 500
International ETF | |
| | | | For the Six
Months Ended
October 31,
2021
(unaudited) | | | For the
Year Ended
April 30, 2021 | | | For the Six
Months Ended
October 31,
2021
(unaudited) | | | For the
Year Ended
April 30, 2021 | |
| Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | $ | 1,330,170 | | | | | $ | 1,932,894 | | | | | $ | 4,099,657 | | | | | $ | 6,811,046 | | |
| Net realized gain (loss) | | | | | 4,994,587 | | | | | | 68,072,024 | | | | | | 11,162,909 | | | | | | 9,256,955 | | |
| Net change in net unrealized appreciation (depreciation) | | | | | 2,979,409 | | | | | | 17,445,976 | | | | | | (6,800,770) | | | | | | 80,956,128 | | |
| Net increase (decrease) in net assets resulting from operations | | | | | 9,304,166 | | | | | | 87,450,894 | | | | | | 8,461,796 | | | | | | 97,024,129 | | |
| Distributions to Shareholders | | | | | (1,228,872) | | | | | | (1,965,356) | | | | | | (4,698,482) | | | | | | (5,907,221) | | |
| Capital Share Transactions | | | | | | | | | | | | | | | | | | | | | | | | | |
| Proceeds from shares created | | | | | 22,679,636 | | | | | | 153,825,587 | | | | | | 33,311,039 | | | | | | — | | |
| Cost of shares redeemed | | | | | (12,614,864) | | | | | | (135,760,327) | | | | | | (37,066,325) | | | | | | (65,232,048) | | |
| Net increase (decrease) from capital share transactions | | | | | 10,064,772 | | | | | | 18,065,260 | | | | | | (3,755,286) | | | | | | (65,232,048) | | |
| Total increase (decrease) in net assets | | | | | 18,140,066 | | | | | | 103,550,798 | | | | | | 8,028 | | | | | | 25,884,860 | | |
| Net Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
| Beginning of period | | | | | 206,659,046 | | | | | | 103,108,248 | | | | | | 244,336,124 | | | | | | 218,451,264 | | |
| End of period | | | | $ | 224,799,112 | | | | | $ | 206,659,046 | | | | | $ | 244,344,152 | | | | | $ | 244,336,124 | | |
| Changes in Shares Outstanding | | | | | | | | | | | | | | | | | | | | | | | | | |
| Shares outstanding, beginning of period | | | | | 5,900,000 | | | | | | 5,150,000 | | | | | | 7,500,000 | | | | | | 9,800,000 | | |
| Shares created | | | | | 650,000 | | | | | | 4,850,000 | | | | | | 1,000,000 | | | | | | — | | |
| Shares redeemed | | | | | (350,000) | | | | | | (4,100,000) | | | | | | (1,100,000) | | | | | | (2,300,000) | | |
| Shares outstanding, end of period | | | | | 6,200,000 | | | | | | 5,900,000 | | | | | | 7,400,000 | | | | | | 7,500,000 | | |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
| | | | IQ Candriam ESG U.S.
Equity ETF | | | IQ Candriam ESG International
Equity ETF | |
| | | | For the Six
Months Ended
October 31,
2021
(unaudited) | | | For the
Year Ended
April 30, 2021 | | | For the Six
Months Ended
October 31,
2021
(unaudited) | | | For the
Year Ended
April 30, 2021 | |
| Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | $ | 2,776,988 | | | | | $ | 3,034,928 | | | | | $ | 2,932,718 | | | | | $ | 2,915,737 | | |
| Net realized gain (loss) | | | | | 14,869,610 | | | | | | 10,153,962 | | | | | | 2,032,550 | | | | | | 8,521,110 | | |
| Net change in net unrealized appreciation (depreciation) | | | | | 40,290,989 | | | | | | 66,417,860 | | | | | | 4,219,185 | | | | | | 29,629,561 | | |
| Net increase (decrease) in net assets resulting from operations | | | | | 57,937,587 | | | | | | 79,606,750 | | | | | | 9,184,453 | | | | | | 41,066,408 | | |
| Distributions to Shareholders | | | | | (2,618,744) | | | | | | (2,588,974) | | | | | | (3,360,601) | | | | | | (2,032,608) | | |
| Capital Share Transactions | | | | | | | | | | | | | | | | | | | | | | | | | |
| Proceeds from shares created | | | | | 64,698,273 | | | | | | 382,934,271 | | | | | | 27,361,847 | | | | | | 136,458,862 | | |
| Cost of shares redeemed | | | | | (49,473,633) | | | | | | (55,283,477) | | | | | | (7,480,700) | | | | | | (34,737,697) | | |
| Net increase (decrease) from capital share transactions | | | | | 15,224,640 | | | | | | 327,650,794 | | | | | | 19,881,147 | | | | | | 101,721,165 | | |
| Total increase (decrease) in net assets | | | | | 70,543,483 | | | | | | 404,668,570 | | | | | | 25,704,999 | | | | | | 140,754,965 | | |
| Net Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
| Beginning of period | | | | | 410,702,317 | | | | | | 6,033,747 | | | | | | 186,951,104 | | | | | | 46,196,139 | | |
| End of period | | | | $ | 481,245,800 | | | | | $ | 410,702,317 | | | | | $ | 212,656,103 | | | | | $ | 186,951,104 | | |
| Changes in Shares Outstanding | | | | | | | | | | | | | | | | | | | | | | | | | |
| Shares outstanding, beginning of period | | | | | 11,550,000 | | | | | | 250,000 | | | | | | 6,400,000 | | | | | | 2,200,000 | | |
| Shares created | | | | | 1,750,000 | | | | | | 13,050,000 | | | | | | 900,000 | | | | | | 5,550,000 | | |
| Shares redeemed | | | | | (1,300,000) | | | | | | (1,750,000) | | | | | | (250,000) | | | | | | (1,350,000) | | |
| Shares outstanding, end of period | | | | | 12,000,000 | | | | | | 11,550,000 | | | | | | 7,050,000 | | | | | | 6,400,000 | | |
See notes to financial statements.
Statements of Changes in Net Assets (continued)
| | | | IQ Healthy
Hearts ETF | | | IQ Engender
Equality ETF | |
| | | | For the
Six Months
Ended
October 31,
2021
(unaudited) | | | For the Period
January 14,
2021* to
April 30, 2021 | | | For the Period
October 21,
2021* to
October 31,
2021
(unaudited) | |
| Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | $ | 31,428 | | | | | $ | 34,344 | | | | | $ | 2,108 | | |
| Net realized gain (loss) | | | | | 319,029 | | | | | | 30,415 | | | | | | (166) | | |
| Net change in net unrealized appreciation (depreciation) | | | | | 265,139 | | | | | | 283,020 | | | | | | 23,891 | | |
Net increase (decrease) in net assets resulting from
operations | | | | | 615,596 | | | | | | 347,779 | | | | | | 25,833 | | |
| Distributions to Shareholders | | | | | (41,650) | | | | | | (21,568) | | | | | | — | | |
| Capital Share Transactions | | | | | | | | | | | | | | | | | | | |
| Proceeds from shares created | | | | | 2,761,683 | | | | | | 7,491,647 | | | | | | 5,000,000 | | |
| Cost of shares redeemed | | | | | (2,737,427) | | | | | | (1,258,414) | | | | | | — | | |
| Net increase (decrease) from capital share transactions | | | | | 24,256 | | | | | | 6,233,233 | | | | | | 5,000,000 | | |
| Total increase (decrease) in net assets | | | | | 598,202 | | | | | | 6,559,444 | | | | | | 5,025,833 | | |
| Net Assets | | | | | | | | | | | | | | | | | | | |
| Beginning of period | | | | | 6,559,444 | | | | | | — | | | | | | — | | |
| End of period | | | | $ | 7,157,646 | | | | | $ | 6,559,444 | | | | | $ | 5,025,833 | | |
| Changes in Shares Outstanding | | | | | | | | | | | | | | | | | | | |
| Shares outstanding, beginning of period | | | | | 250,000 | | | | | | — | | | | | | — | | |
| Shares created | | | | | 100,000 | | | | | | 300,000 | | | | | | 200,000 | | |
| Shares redeemed | | | | | (100,000) | | | | | | (50,000) | | | | | | — | | |
| Shares outstanding, end of period | | | | | 250,000 | | | | | | 250,000 | | | | | | 200,000 | | |
*
Commencement of operations.
See notes to financial statements.
Statements of Changes in Net Assets (continued)
| | | | IQ Cleaner
Transport ETF | | | IQ Clean
Oceans ETF | |
| | | | For the Period
October 21,
2021* to
October 31,
2021
(unaudited) | | | For the Period
October 21,
2021* to
October 31,
2021
(unaudited) | |
| Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | |
| Net investment income | | | | $ | 222 | | | | | $ | 1,187 | | |
| Net realized gain (loss) | | | | | (2,494) | | | | | | (2,517) | | |
| Net change in net unrealized appreciation (depreciation) | | | | | 162,049 | | | | | | 85,112 | | |
| Net increase (decrease) in net assets resulting from operations | | | | | 159,777 | | | | | | 83,782 | | |
| Capital Share Transactions | | | | | | | | | | | | | |
| Proceeds from shares created | | | | | 5,005,301 | | | | | | 5,007,210 | | |
| Cost of shares redeemed | | | | | — | | | | | | — | | |
| Net increase (decrease) from capital share transactions | | | | | 5,005,301 | | | | | | 5,007,210 | | |
| Total increase (decrease) in net assets | | | | | 5,165,078 | | | | | | 5,090,992 | | |
| Net Assets | | | | | | | | | | | | | |
| Beginning of period | | | | | — | | | | | | — | | |
| End of period | | | | $ | 5,165,078 | | | | | $ | 5,090,992 | | |
| Changes in Shares Outstanding | | | | | | | | | | | | | |
| Shares outstanding, beginning of period | | | | | — | | | | | | — | | |
| Shares created | | | | | 200,000 | | | | | | 200,000 | | |
| Shares redeemed | | | | | — | | | | | | — | | |
| Shares outstanding, end of period | | | | | 200,000 | | | | | | 200,000 | | |
*
Commencement of operations.
See notes to financial statements.
Selected Data for a Share of Capital Stock Outstanding
| | | | IQ Hedge Multi-Strategy Tracker ETF | |
| | | | For the Six
Months Ended
October 31, 2021
(unaudited) | | | For the Year Ended April 30, | |
| | | | 2021 | | | 2020 | | | 2019 | | | 2018 | | | 2017 | |
Net asset value, beginning of
period | | | | $ | 32.02 | | | | | $ | 29.41 | | | | | $ | 30.29 | | | | | $ | 30.39 | | | | | $ | 29.15 | | | | | $ | 29.03 | | |
Income from Investment
Operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income(a)(b) | | | | | 0.19 | | | | | | 0.42 | | | | | | 0.75 | | | | | | 0.72 | | | | | | 0.56 | | | | | | 0.50 | | |
| Net realized and unrealized gain (loss) | | | | | (0.14) | | | | | | 2.79 | | | | | | (1.04) | | | | | | (0.27) | | | | | | 0.68 | | | | | | (0.38) | | |
| Distributions of net realized gains from investments in other investment companies | | | | | — | | | | | | 0.03 | | | | | | 0.00(c) | | | | | | — | | | | | | 0.00(c) | | | | | | 0.00(c) | | |
| Net increase (decrease) in net assets resulting from investment operations | | | | | 0.05 | | | | | | 3.24 | | | | | | (0.29) | | | | | | 0.45 | | | | | | 1.24 | | | | | | 0.12 | | |
| Distributions from: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | | — | | | | | | (0.63) | | | | | | (0.59) | | | | | | (0.55) | | | | | | — | | | | | | (0.00)(d) | | |
| Net asset value, end of period | | | | $ | 32.07 | | | | | $ | 32.02 | | | | | $ | 29.41 | | | | | $ | 30.29 | | | | | $ | 30.39 | | | | | $ | 29.15 | | |
| Market price, end of period | | | | $ | 32.07 | | | | | $ | 32.01 | | | | | $ | 29.34 | | | | | $ | 30.28 | | | | | $ | 30.38 | | | | | $ | 29.15 | | |
| Total Return | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total investment return based on net asset value(e) | | | | | 0.17% | | | | | | 11.01% | | | | | | (1.04)% | | | | | | 1.56% | | | | | | 4.24% | | | | | | 0.42% | | |
Total investment return based on market price(f) | | | | | 0.19% | | | | | | 11.26% | | | | | | (1.26)% | | | | | | 1.56% | | | | | | 4.22% | | | | | | 0.31% | | |
| Ratios/Supplemental Data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 819,395 | | | | | $ | 795,577 | | | | | $ | 739,660 | | | | | $ | 993,422 | | | | | $ | 1,124,278 | | | | | $ | 1,062,579 | | |
| Ratio to average net assets of: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses net of waivers/ reimbursements(g) | | | | | 0.54%(h) | | | | | | 0.54% | | | | | | 0.54% | | | | | | 0.54% | | | | | | 0.64% | | | | | | 0.76% | | |
Expenses excluding waivers/ reimbursements(g) | | | | | 0.76%(h) | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | |
Net investment income (loss)(b) | | | | | 1.16%(h) | | | | | | 1.35% | | | | | | 2.49% | | | | | | 2.40% | | | | | | 1.87% | | | | | | 1.72% | | |
Portfolio turnover rate(i) | | | | | 42% | | | | | | 163% | | | | | | 166% | | | | | | 137% | | | | | | 164% | | | | | | 285% | | |
(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)
The market price returns are calculated using the mean between the last bid and ask prices.
(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 Hedge Macro Tracker ETF | |
| | | | For the Six
Months Ended
October 31, 2021
(unaudited) | | | For the Year Ended April 30, | |
| | | | 2021 | | | 2020 | | | 2019 | | | 2018 | | | 2017 | |
| Net asset value, beginning of period | | | | $ | 28.48 | | | | | $ | 25.52 | | | | | $ | 26.26 | | | | | $ | 26.35 | | | | | $ | 25.46 | | | | | $ | 24.66 | | |
| Income from Investment Operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income(a)(b) | | | | | 0.17 | | | | | | 0.34 | | | | | | 0.56 | | | | | | 0.44 | | | | | | 0.39 | | | | | | 0.37 | | |
| Net realized and unrealized gain (loss) | | | | | (0.43) | | | | | | 3.30 | | | | | | (0.94) | | | | | | (0.25) | | | | | | 0.50 | | | | | | 0.43 | | |
| Distributions of net realized gains from investments in other investment companies | | | | | — | | | | | | 0.03 | | | | | | — | | | | | | — | | | | | | 0.00(c) | | | | | | 0.00(c) | | |
| Net increase (decrease) in net assets resulting from investment operations | | | | | (0.26) | | | | | | 3.67 | | | | | | (0.38) | | | | | | 0.19 | | | | | | 0.89 | | | | | | 0.80 | | |
| Distributions from: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | | — | | | | | | (0.71) | | | | | | (0.36) | | | | | | (0.28) | | | | | | — | | | | | | — | | |
| Net asset value, end of period | | | | $ | 28.22 | | | | | $ | 28.48 | | | | | $ | 25.52 | | | | | $ | 26.26 | | | | | $ | 26.35 | | | | | $ | 25.46 | | |
| Market price, end of period | | | | $ | 28.20 | | | | | $ | 28.48 | | | | | $ | 25.36 | | | | | $ | 26.24 | | | | | $ | 26.34 | | | | | $ | 25.44 | | |
| Total Return | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total investment return based on net asset value(d) | | | | | (0.92)% | | | | | | 14.44% | | | | | | (1.51)% | | | | | | 0.77% | | | | | | 3.50% | | | | | | 3.25% | | |
Total investment return based on market
price(e) | | | | | (0.98)% | | | | | | 15.13% | | | | | | (2.04)% | | | | | | 0.74% | | | | | | 3.54% | | | | | | 2.58% | | |
| Ratios/Supplemental Data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 4,233 | | | | | $ | 4,272 | | | | | $ | 3,827 | | | | | $ | 5,251 | | | | | $ | 6,588 | | | | | $ | 6,365 | | |
| Ratio to average net assets of: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses net of waivers/reimbursements(f) | | | | | 0.41%(g) | | | | | | 0.41% | | | | | | 0.54% | | | | | | 0.76% | | | | | | 0.75% | | | | | | 0.76% | | |
Expenses excluding waivers/
reimbursements(f) | | | | | 0.76%(g) | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.75% | | | | | | 0.76% | | |
Net investment income (loss)(b) | | | | | 1.18%(g) | | | | | | 1.23% | | | | | | 2.13% | | | | | | 1.70% | | | | | | 1.47% | | | | | | 1.50% | | |
Portfolio turnover rate(h) | | | | | 34% | | | | | | 104% | | | | | | 104% | | | | | | 82% | | | | | | 152% | | | | | | 68% | | |
(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. 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 Hedge Market Neutral Tracker ETF | |
| | | | For the Six
Months Ended
October 31, 2021
(unaudited) | | | For the Year Ended April 30, | |
| | | | 2021 | | | 2020 | | | 2019 | | | 2018 | | | 2017 | |
| Net asset value, beginning of period | | | | $ | 27.30 | | | | | $ | 25.65 | | | | | $ | 26.23 | | | | | $ | 25.58 | | | | | $ | 25.25 | | | | | $ | 25.49 | | |
| Income from Investment Operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income(a)(b) | | | | | 0.16 | | | | | | 0.40 | | | | | | 0.62 | | | | | | 0.55 | | | | | | 0.41 | | | | | | 0.36 | | |
| Net realized and unrealized gain (loss) | | | | | (0.34) | | | | | | 1.79 | | | | | | (0.76) | | | | | | 0.10 | | | | | | (0.08) | | | | | | (0.25) | | |
| Distributions of net realized gains from investments in other investment companies | | | | | — | | | | | | 0.03 | | | | | | — | | | | | | — | | | | | | — | | | | | | 0.00(c) | | |
| Net increase (decrease) in net assets resulting from investment operations | | | | | (0.18) | | | | | | 2.22 | | | | | | (0.14) | | | | | | 0.65 | | | | | | 0.33 | | | | | | 0.11 | | |
| Distributions from: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | | — | | | | | | (0.57) | | | | | | (0.44) | | | | | | — | | | | | | — | | | | | | (0.35) | | |
| Net asset value, end of period | | | | $ | 27.12 | | | | | $ | 27.30 | | | | | $ | 25.65 | | | | | $ | 26.23 | | | | | $ | 25.58 | | | | | $ | 25.25 | | |
| Market price, end of period | | | | $ | 27.12 | | | | | $ | 27.30 | | | | | $ | 25.63 | | | | | $ | 26.23 | | | | | $ | 25.58 | | | | | $ | 25.25 | | |
| Total Return | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total investment return based on net asset
value(d) | | | | | (0.64)% | | | | | | 8.65% | | | | | | (0.62)% | | | | | | 2.56% | | | | | | 1.29% | | | | | | 0.44% | | |
Total investment return based on market price(e) | | | | | (0.66)% | | | | | | 8.74% | | | | | | (0.69)% | | | | | | 2.54% | | | | | | 1.31% | | | | | | 0.67% | | |
| Ratios/Supplemental Data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 17,631 | | | | | $ | 17,745 | | | | | $ | 17,956 | | | | | $ | 15,741 | | | | | $ | 12,790 | | | | | $ | 11,364 | | |
| Ratio to average net assets of: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses net of waivers/
reimbursements(f) | | | | | 0.41%(g) | | | | | | 0.41% | | | | | | 0.53% | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | |
Expenses excluding waivers/ reimbursements(f) | | | | | 0.76%(g) | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | |
Net investment income (loss)(b) | | | | | 1.19%(g) | | | | | | 1.51% | | | | | | 2.36% | | | | | | 2.15% | | | | | | 1.61% | | | | | | 1.40% | | |
Portfolio turnover rate(h) | | | | | 41% | | | | | | 116% | | | | | | 77% | | | | | | 107% | | | | | | 165% | | | | | | 99% | | |
(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. 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 Hedge Long/Short Tracker ETF | |
| | | | For the Six
Months Ended
October 31, 2021
(unaudited) | | | For the Year Ended April 30, | |
| | | | 2021 | | | 2020 | | | 2019 | | | 2018 | | | 2017 | |
| Net asset value, beginning of period | | | | $ | 26.52 | | | | | $ | 21.40 | | | | | $ | 21.53 | | | | | $ | 21.91 | | | | | $ | 20.36 | | | | | $ | 18.88 | | |
| Income from Investment Operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income(a)(b) | | | | | 0.21 | | | | | | 0.44 | | | | | | 0.51 | | | | | | 0.44 | | | | | | 0.41 | | | | | | 0.35 | | |
| Net realized and unrealized gain (loss) | | | | | 1.19 | | | | | | 5.19 | | | | | | (0.29) | | | | | | 0.13 | | | | | | 1.22 | | | | | | 1.19 | | |
| Distributions of net realized gains from investments in other investment companies | | | | | — | | | | | | 0.01 | | | | | | — | | | | | | — | | | | | | 0.00(c) | | | | | | 0.00(c) | | |
| Net increase (decrease) in net assets resulting from investment operations | | | | | 1.40 | | | | | | 5.64 | | | | | | 0.22 | | | | | | 0.57 | | | | | | 1.63 | | | | | | 1.54 | | |
| Distributions from: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | | — | | | | | | (0.52) | | | | | | (0.35) | | | | | | (0.95) | | | | | | (0.08) | | | | | | (0.06) | | |
| Net asset value, end of period | | | | $ | 27.92 | | | | | $ | 26.52 | | | | | $ | 21.40 | | | | | $ | 21.53 | | | | | $ | 21.91 | | | | | $ | 20.36 | | |
| Market price, end of period | | | | $ | 27.92 | �� | | | | $ | 26.53 | | | | | $ | 21.52 | | | | | $ | 21.54 | | | | | $ | 21.93 | | | | | $ | 20.34 | | |
| Total Return | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total investment return based on net asset value(d) | | | | | 5.27% | | | | | | 26.42% | | | | | | 0.93% | | | | | | 3.07% | | | | | | 8.02% | | | | | | 8.18% | | |
Total investment return based on market
price(e) | | | | | 5.24% | | | | | | 25.76% | | | | | | 1.46% | | | | | | 2.91% | | | | | | 8.23% | | | | | | 8.98% | | |
| Ratios/Supplemental Data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 18,147 | | | | | $ | 9,282 | | | | | $ | 10,699 | | | | | $ | 6,459 | | | | | $ | 8,764 | | | | | $ | 4,072 | | |
| Ratio to average net assets of: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses net of waivers/reimbursements(f) | | | | | 0.41%(g) | | | | | | 0.41% | | | | | | 0.51% | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.77% | | |
Expenses excluding waivers/
reimbursements(f) | | | | | 0.76%(g) | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.77% | | |
Net investment income (loss)(b) | | | | | 1.55%(g) | | | | | | 1.80% | | | | | | 2.35% | | | | | | 2.06% | | | | | | 1.89% | | | | | | 1.78% | | |
Portfolio turnover rate(h) | | | | | 11% | | | | | | 156% | | | | | | 136% | | | | | | 95% | | | | | | 77% | | | | | | 147% | | |
(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. 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 Hedge Event-Driven Tracker ETF | |
| | | | For the Six
Months Ended
October 31, 2021
(unaudited) | | | For the Year Ended April 30, | |
| | | | 2021 | | | 2020 | | | 2019 | | | 2018 | | | 2017 | |
| Net asset value, beginning of period | | | | $ | 23.72 | | | | | $ | 20.88 | | | | | $ | 21.26 | | | | | $ | 20.93 | | | | | $ | 20.59 | | | | | $ | 19.40 | | |
| Income from Investment Operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income(a)(b) | | | | | 0.18 | | | | | | 0.50 | | | | | | 0.73 | | | | | | 0.74 | | | | | | 0.55 | | | | | | 0.56 | | |
| Net realized and unrealized gain (loss) | | | | | 0.08 | | | | | | 3.39 | | | | | | (0.66) | | | | | | 0.46 | | | | | | 0.26 | | | | | | 1.09 | | |
| Distributions of net realized gains from investments in other investment companies | | | | | — | | | | | | 0.00(c) | | | | | | — | | | | | | — | | | | | | — | | | | | | 0.00(c) | | |
| Net increase (decrease) in net assets resulting from investment operations | | | | | 0.26 | | | | | | 3.89 | | | | | | 0.07 | | | | | | 1.20 | | | | | | 0.81 | | | | | | 1.65 | | |
| Distributions from: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | | — | | | | | | (1.05) | | | | | | (0.45) | | | | | | (0.87) | | | | | | (0.47) | | | | | | (0.46) | | |
| Net asset value, end of period | | | | $ | 23.98 | | | | | $ | 23.72 | | | | | $ | 20.88 | | | | | $ | 21.26 | | | | | $ | 20.93 | | | | | $ | 20.59 | | |
| Market price, end of period | | | | $ | 23.98 | | | | | $ | 23.73 | | | | | $ | 20.86 | | | | | $ | 21.27 | | | | | $ | 20.93 | | | | | $ | 20.59 | | |
| Total Return | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total investment return based on net asset value(d) | | | | | 1.13% | | | | | | 18.65% | | | | | | 0.25% | | | | | | 6.12% | | | | | | 3.93% | | | | | | 8.58% | | |
Total investment return based on market
price(e) | | | | | 1.05% | | | | | | 18.86% | | | | | | 0.11% | | | | | | 6.13% | | | | | | 3.94% | | | | | | 8.44% | | |
| Ratios/Supplemental Data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 19,187 | | | | | $ | 9,487 | | | | | $ | 8,354 | | | | | $ | 4,253 | | | | | $ | 3,139 | | | | | $ | 3,088 | | |
| Ratio to average net assets of: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses net of waivers/reimbursements(f) | | | | | 0.41%(g) | | | | | | 0.41% | | | | | | 0.50% | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | |
Expenses excluding waivers/
reimbursements(f) | | | | | 0.76%(g) | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | |
Net investment income (loss)(b) | | | | | 1.53%(g) | | | | | | 2.19% | | | | | | 3.48% | | | | | | 3.54% | | | | | | 2.64% | | | | | | 2.80% | | |
Portfolio turnover rate(h) | | | | | 14% | | | | | | 69% | | | | | | 77% | | | | | | 34% | | | | | | 41% | | | | | | 68% | | |
(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. 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 Real Return ETF | |
| | | | For the Six
Months Ended
October 31, 2021
(unaudited) | | | For the Year Ended April 30, | |
| | | | 2021 | | | 2020 | | | 2019 | | | 2018 | | | 2017 | |
| Net asset value, beginning of period | | | | $ | 27.30 | | | | | $ | 26.94 | | | | | $ | 27.83 | | | | | $ | 27.47 | | | | | $ | 27.25 | | | | | $ | 26.73 | | |
| Income from Investment Operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income(a)(b) | | | | | 0.05 | | | | | | 0.15 | | | | | | 0.54 | | | | | | 0.49 | | | | | | 0.30 | | | | | | 0.22 | | |
| Net realized and unrealized gain (loss) | | | | | 0.29 | | | | | | 0.44 | | | | | | (0.84) | | | | | | 0.22 | | | | | | 0.21 | | | | | | 0.30 | | |
| Distributions of net realized gains from investments in other investment companies | | | | | — | | | | | | 0.04 | | | | | | 0.00(c) | | | | | | — | | | | | | 0.00(c) | | | | | | 0.00(c) | | |
| Net increase (decrease) in net assets resulting from investment operations | | | | | 0.34 | | | | | | 0.63 | | | | | | (0.30) | | | | | | 0.71 | | | | | | 0.51 | | | | | | 0.52 | | |
| Distributions from: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | | — | | | | | | (0.27) | | | | | | (0.59) | | | | | | (0.35) | | | | | | (0.29) | | | | | | — | | |
| Net asset value, end of period | | | | $ | 27.64 | | | | | $ | 27.30 | | | | | $ | 26.94 | | | | | $ | 27.83 | | | | | $ | 27.47 | | | | | $ | 27.25 | | |
| Market price, end of period | | | | $ | 27.64 | | | | | $ | 27.29 | | | | | $ | 26.86 | | | | | $ | 27.80 | | | | | $ | 27.47 | | | | | $ | 27.27 | | |
| Total Return | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total investment return based on net asset
value(d) | | | | | 1.25% | | | | | | 2.33% | | | | | | (1.13)% | | | | | | 2.64% | | | | | | 1.89% | | | | | | 1.94% | | |
Total investment return based on market price(e) | | | | | 1.28% | | | | | | 2.60% | | | | | | (1.33)% | | | | | | 2.53% | | | | | | 1.81% | | | | | | 2.06% | | |
| Ratios/Supplemental Data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 55,282 | | | | | $ | 53,235 | | | | | $ | 51,188 | | | | | $ | 57,046 | | | | | $ | 45,319 | | | | | $ | 28,608 | | |
| Ratio to average net assets of: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses net of waivers/
reimbursements(f) | | | | | 0.21%(g) | | | | | | 0.21% | | | | | | 0.21% | | | | | | 0.37% | | | | | | 0.49% | | | | | | 0.49% | | |
Expenses excluding waivers/ reimbursements(f) | | | | | 0.49%(g) | | | | | | 0.49% | | | | | | 0.49% | | | | | | 0.49% | | | | | | 0.49% | | | | | | 0.49% | | |
Net investment income (loss)(b) | | | | | 0.33%(g) | | | | | | 0.56% | | | | | | 1.95% | | | | | | 1.77% | | | | | | 1.10% | | | | | | 0.82% | | |
Portfolio turnover rate(h) | | | | | 30% | | | | | | 66% | | | | | | 68% | | | | | | 97% | | | | | | 101% | | | | | | 71% | | |
(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. 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 S&P High Yield Low Volatility Bond ETF | | |
| | | | For the Six
Months Ended
October 31, 2021
(unaudited) | | | For the Year Ended April 30, | | | For the
Period
February 15,
2017(a) to
April 30, 2017 | | |
| | | | 2021 | | | 2020 | | | 2019 | | | 2018 | | | | |
| Net asset value, beginning of period | | | | $ | 24.99 | | | | | $ | 23.86 | | | | | $ | 24.76 | | | | | $ | 24.36 | | | | | $ | 25.20 | | | | | $ | 25.00 | | | |
| Income from Investment Operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income(b)(c) | | | | | 0.40 | | | | | | 0.93 | | | | | | 1.01 | | | | | | 1.07 | | | | | | 0.99 | | | | | | 0.20 | | | |
| Net realized and unrealized gain (loss) | | | | | 0.04 | | | | | | 1.16 | | | | | | (0.81) | | | | | | 0.41 | | | | | | (0.88) | | | | | | 0.10 | | | |
Net increase (decrease) in net
assets resulting from investment
operations | | | | | 0.44 | | | | | | 2.09 | | | | | | 0.20 | | | | | | 1.48 | | | | | | 0.11 | | | | | | 0.30 | | | |
| Distributions from: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | | (0.49) | | | | | | (0.96) | | | | | | (1.10) | | | | | | (1.08) | | | | | | (0.95) | | | | | | (0.10) | | | |
| Net asset value, end of period | | | | $ | 24.94 | | | | | $ | 24.99 | | | | | $ | 23.86 | | | | | $ | 24.76 | | | | | $ | 24.36 | | | | | $ | 25.20 | | | |
| Market price, end of period | | | | $ | 24.99 | | | | | $ | 25.02 | | | | | $ | 24.03 | | | | | $ | 24.78 | | | | | $ | 24.32 | | | | | $ | 25.34 | | | |
| Total Return | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total investment return based on
net asset value(d) | | | | | 1.75% | | | | | | 8.89% | | | | | | 0.71% | | | | | | 6.31% | | | | | | 0.39% | | | | | | 1.40% | | | |
Total investment return based on
market price(e) | | | | | 1.84% | | | | | | 8.23% | | | | | | 1.34% | | | | | | 6.56% | | | | | | (0.36)% | | | | | | 1.93%(f) | | | |
| Ratios/Supplemental Data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 37,417 | | | | | $ | 106,222 | | | | | $ | 51,295 | | | | | $ | 65,626 | | | | | $ | 107,192 | | | | | $ | 49,145 | | | |
| Ratio to average net assets of: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses net of waivers/ reimbursements(g) | | | | | 0.40%(h) | | | | | | 0.40% | | | | | | 0.40% | | | | | | 0.40% | | | | | | 0.40% | | | | | | 0.40%(h) | | | |
Expenses excluding waivers/ reimbursements(g) | | | | | 0.42%(h) | | | | | | 0.41% | | | | | | 0.41% | | | | | | 0.41% | | | | | | 0.41% | | | | | | 0.41%(h) | | | |
Net investment income (loss)(c) | | | | | 3.17%(h) | | | | | | 3.72% | | | | | | 4.04% | | | | | | 4.42% | | | | | | 3.97% | | | | | | 4.05%(h) | | | |
Portfolio turnover rate(i) | | | | | 46% | | | | | | 105% | | | | | | 105% | | | | | | 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 Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate the market returns.
(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 Six
Months Ended
October 31, 2021
(unaudited) | | | For the Year Ended April 30, | |
| | | | 2021 | | | 2020 | | | 2019 | | | 2018 | | | 2017 | |
| Net asset value, beginning of period | | | | $ | 33.62 | | | | | $ | 31.53 | | | | | $ | 31.50 | | | | | $ | 30.72 | | | | | $ | 30.21 | | | | | $ | 28.44 | | |
| Income from Investment Operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income(a)(b) | | | | | 0.02 | | | | | | 0.31 | | | | | | 0.14 | | | | | | 0.07 | | | | | | 0.10 | | | | | | 0.24(c) | | |
| Net realized and unrealized gain (loss) | | | | | (0.77) | | | | | | 2.55 | | | | | | (0.11) | | | | | | 0.71 | | | | | | 0.41(d) | | | | | | 1.59 | | |
Distributions of net realized gains from
investments in other investment
companies | | | | | — | | | | | | 0.00(e) | | | | | | 0.00(e) | | | | | | — | | | | | | — | | | | | | — | | |
| Net increase (decrease) in net assets resulting from investment operations | | | | | (0.75) | | | | | | 2.86 | | | | | | 0.03 | | | | | | 0.78 | | | | | | 0.51 | | | | | | 1.83 | | |
| Distributions from: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | | — | | | | | | (0.77) | | | | | | — | | | | | | — | | | | | | — | | | | | | (0.06) | | |
| Net asset value, end of period | | | | $ | 32.87 | | | | | $ | 33.62 | | | | | $ | 31.53 | | | | | $ | 31.50 | | | | | $ | 30.72 | | | | | $ | 30.21 | | |
| Market price, end of period | | | | $ | 32.88 | | | | | $ | 33.67 | | | | | $ | 31.45 | | | | | $ | 31.48 | | | | | $ | 30.75 | | | | | $ | 30.27 | | |
| Total Return | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total investment return based on net asset value(f) | | | | | (2.21)% | | | | | | 9.07% | | | | | | 0.10% | | | | | | 2.52% | | | | | | 1.69% | | | | | | 6.45% | | |
Total investment return based on market price(g) | | | | | (2.35)% | | | | | | 9.53% | | | | | | (0.10)% | | | | | | 2.37% | | | | | | 1.59% | | | | | | 6.39% | | |
| Ratios/Supplemental Data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 726,473 | | | | | $ | 746,279 | | | | | $ | 723,582 | | | | | $ | 985,800 | | | | | $ | 525,386 | | | | | $ | 188,833 | | |
| Ratio to average net assets of: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses(h) | | | | | 0.76%(i) | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | |
Net investment income (loss)(b) | | | | | 0.14%(i) | | | | | | 0.94% | | | | | | 0.42% | | | | | | 0.21% | | | | | | 0.34% | | | | | | 0.82%(c) | | |
Portfolio turnover rate(j) | | | | | 135% | | | | | | 313% | | | | | | 308% | | | | | | 337% | | | | | | 329% | | | | | | 268% | | |
(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)
Less than $0.005 per share.
(f)
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.
(g)
The market price returns are calculated using the mean between the last bid and ask prices.
(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 Global Resources ETF | |
| | | | For the Six
Months Ended
October 31, 2021
(unaudited) | | | For the Year Ended April 30, | |
| | | | 2021 | | | 2020 | | | 2019 | | | 2018 | | | 2017 | |
| Net asset value, beginning of period | | | | $ | 28.60 | | | | | $ | 24.16 | | | | | $ | 26.97 | | | | | $ | 27.76 | | | | | $ | 25.82 | | | | | $ | 24.70 | | |
| Income from Investment Operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income(a)(b) | | | | | 0.53 | | | | | | 0.71 | | | | | | 0.66 | | | | | | 0.65 | | | | | | 0.68 | | | | | | 0.33 | | |
| Net realized and unrealized gain (loss) | | | | | 0.92 | | | | | | 6.27 | | | | | | (3.00) | | | | | | (1.24) | | | | | | 1.26 | | | | | | 0.89 | | |
| Distributions of net realized gains from investments in other investment companies | | | | | — | | | | | | 0.01 | | | | | | 0.00(c) | | | | | | — | | | | | | — | | | | | | — | | |
| Net increase (decrease) in net assets resulting from investment operations | | | | | 1.45 | | | | | | 6.99 | | | | | | (2.34) | | | | | | (0.59) | | | | | | 1.94 | | | | | | 1.22 | | |
| Distributions from: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | | — | | | | | | (2.55) | | | | | | (0.47) | | | | | | (0.20) | | | | | | — | | | | | | (0.10) | | |
| Net asset value, end of period | | | | $ | 30.05 | | | | | $ | 28.60 | | | | | $ | 24.16 | | | | | $ | 26.97 | | | | | $ | 27.76 | | | | | $ | 25.82 | | |
| Market price, end of period | | | | $ | 30.08 | | | | | $ | 28.55 | | | | | $ | 23.99 | | | | | $ | 27.06 | | | | | $ | 27.65 | | | | | $ | 25.95 | | |
| Total Return | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total investment return based on net asset value(d) | | | | | 5.06% | | | | | | 30.07% | | | | | | (8.89)% | | | | | | (2.08)% | | | | | | 7.50% | | | | | | 4.94% | | |
Total investment return based on market price(e) | | | | | 5.36% | | | | | | 30.76% | | | | | | (9.81)% | | | | | | (1.38)% | | | | | | 6.55% | | | | | | 5.13% | | |
| Ratios/Supplemental Data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 30,052 | | | | | $ | 20,021 | | | | | $ | 22,948 | | | | | $ | 175,312 | | | | | $ | 238,712 | | | | | $ | 179,450 | | |
| Ratio to average net assets of: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses net of waivers/ reimbursements(f) | | | | | 0.59%(g) | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.75% | | |
Expenses excluding waivers/ reimbursements(f) | | | | | 0.59%(g) | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.76% | | | | | | 0.75% | | |
Net investment income (loss)(b) | | | | | 3.59%(g) | | | | | | 2.70% | | | | | | 2.48% | | | | | | 2.37% | | | | | | 2.51% | | | | | | 1.29% | | |
Portfolio turnover rate(h) | | | | | 67% | | | | | | 98% | | | | | | 100% | | | | | | 132% | | | | | | 235% | | | | | | 199% | | |
(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. 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 U.S. Real Estate Small Cap ETF | |
| | | | For the Six
Months Ended
October 31, 2021
(unaudited) | | | For the Year Ended April 30, | |
| | | | 2021 | | | 2020 | | | 2019 | | | 2018 | | | 2017 | |
| Net asset value, beginning of period | | | | $ | 25.52 | | | | | $ | 17.32 | | | | | $ | 25.13 | | | | | $ | 24.14 | | | | | $ | 27.14 | | | | | $ | 25.14 | | |
| Income from Investment Operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income(a)(b) | | | | | 0.46 | | | | | | 0.33 | | | | | | 0.66 | | | | | | 0.79 | | | | | | 0.88 | | | | | | 0.71 | | |
| Net realized and unrealized gain (loss) | | | | | 1.11 | | | | | | 8.67 | | | | | | (7.16) | | | | | | 1.81 | | | | | | (2.53) | | | | | | 2.88 | | |
| Distributions of net realized gains from investments in other investment companies | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0.00(c) | | |
| Net increase (decrease) in net assets resulting from investment operations | | | | | 1.57 | | | | | | 9.00 | | | | | | (6.50) | | | | | | 2.60 | | | | | | (1.65) | | | | | | 3.59 | | |
| Distributions from: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | | (0.47) | | | | | | (0.32) | | | | | | (0.62) | | | | | | (0.78) | | | | | | (0.85) | | | | | | (0.71) | | |
| Return of capital | | | | | — | | | | | | (0.48) | | | | | | (0.69) | | | | | | (0.83) | | | | | | (0.50) | | | | | | (0.88) | | |
| Total distributions from net investment income and return of capital | | | | | (0.47) | | | | | | (0.80) | | | | | | (1.31) | | | | | | (1.61) | | | | | | (1.35) | | | | | | (1.59) | | |
| Net asset value, end of period | | | | $ | 26.62 | | | | | $ | 25.52 | | | | | $ | 17.32 | | | | | $ | 25.13 | | | | | $ | 24.14 | | | | | $ | 27.14 | | |
| Market price, end of period | | | | $ | 26.63 | | | | | $ | 25.51 | | | | | $ | 17.30 | | | | | $ | 25.12 | | | | | $ | 24.12 | | | | | $ | 27.15 | | |
| Total Return | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total investment return based on net asset
value(d) | | | | | 6.23% | | | | | | 53.54% | | | | | | (27.15)% | | | | | | 11.16% | | | | | | (6.37)% | | | | | | 14.60% | | |
Total investment return based on market price(e) | | | | | 6.29% | | | | | | 53.68% | | | | | | (27.21)% | | | | | | 11.24% | | | | | | (6.49)% | | | | | | 14.79% | | |
| Ratios/Supplemental Data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 49,250 | | | | | $ | 52,309 | | | | | $ | 40,702 | | | | | $ | 71,615 | | | | | $ | 82,089 | | | | | $ | 114,001 | | |
| Ratio to average net assets of: | ��� | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses(f) | | | | | 0.70%(g) | | | | | | 0.70% | | | | | | 0.70% | | | | | | 0.70% | | | | | | 0.70% | | | | | | 0.70% | | |
Net investment income (loss)(b) | | | | | 3.49%(g) | | | | | | 1.66% | | | | | | 2.72% | | | | | | 3.11% | | | | | | 3.36% | | | | | | 2.64% | | |
Portfolio turnover rate(h) | | | | | 16% | | | | | | 38% | | | | | | 26% | | | | | | 26% | | | | | | 27% | | | | | | 28% | | |
(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. 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 Six
Months Ended
October 31, 2021
(unaudited) | | | For the Year Ended April 30, | |
| | | | 2021 | | | 2020 | | | 2019 | | | 2018 | | | 2017 | |
Net asset value, beginning of
period | | | | $ | 24.34 | | | | | $ | 18.02 | | | | | $ | 20.59 | | | | | $ | 21.63 | | | | | $ | 19.68 | | | | | $ | 17.68 | | |
| Income from Investment Operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income(a)(b) | | | | | 0.34 | | | | | | 0.51 | | | | | | 0.56 | | | | | | 0.62 | | | | | | 0.60 | | | | | | 0.46 | | |
| Net realized and unrealized gain (loss) | | | | | 0.78 | | | | | | 6.28 | | | | | | (2.51) | | | | | | (0.77) | | | | | | 1.89 | | | | | | 2.18 | | |
| Net increase (decrease) in net assets resulting from investment operations | | | | | 1.12 | | | | | | 6.79 | | | | | | (1.95) | | | | | | (0.15) | | | | | | 2.49 | | | | | | 2.64 | | |
| Distributions from: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | | (0.45) | | | | | | (0.47) | | | | | | (0.62) | | | | | | (0.70) | | | | | | (0.54) | | | | | | (0.44) | | |
| Net realized gain | | | | | — | | | | | | — | | | | | | — | | | | | | (0.19) | | | | | | 0.00(c) | | | | | | (0.20) | | |
Total distributions from net investment
income and realized gains | | | | | (0.45) | | | | | | (0.47) | | | | | | (0.62) | | | | | | (0.89) | | | | | | (0.54) | | | | | | (0.64) | | |
| Net asset value, end of period | | | | $ | 25.01 | | | | | $ | 24.34 | | | | | $ | 18.02 | | | | | $ | 20.59 | | | | | $ | 21.63 | | | | | $ | 19.68 | | |
| Market price, end of period | | | | $ | 25.02 | | | | | $ | 24.36 | | | | | $ | 17.83 | | | | | $ | 20.65 | | | | | $ | 21.60 | | | | | $ | 19.75 | | |
| Total Return | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total investment return based on net
asset value(d) | | | | | 4.59% | | | | | | 38.14% | | | | | | (9.74)% | | | | | | (0.42)% | | | | | | 12.84% | | | | | | 15.29% | | |
Total investment return based on market price(e) | | | | | 4.56% | | | | | | 39.70% | | | | | | (10.94)% | | | | | | (0.03)% | | | | | | 12.28% | | | | | | 16.28% | | |
| Ratios/Supplemental Data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 322,599 | | | | | $ | 310,388 | | | | | $ | 249,575 | | | | | $ | 281,079 | | | | | $ | 578,517 | | | | | $ | 208,595 | | |
| Ratio to average net assets of: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses net of waivers/ reimbursements(f) | | | | | 0.20%(g) | | | | | | 0.20% | | | | | | 0.20% | | | | | | 0.20% | | | | | | 0.22% | | | | | | 0.36% | | |
Expenses excluding waivers/ reimbursements(f) | | | | | 0.36%(g) | | | | | | 0.36% | | | | | | 0.36% | | | | | | 0.36% | | | | | | 0.36% | | | | | | 0.36% | | |
Net investment income (loss)(b) | | | | | 2.72%(g) | | | | | | 2.41% | | | | | | 2.78% | | | | | | 3.03% | | | | | | 2.87% | | | | | | 2.55% | | |
Portfolio turnover rate(h) | | | | | 4% | | | | | | 10% | | | | | | 8% | | | | | | 13% | | | | | | 10% | | | | | | 8% | | |
(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. 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 Chaikin U.S. Large Cap ETF | | |
| | | | For the Six
Months Ended
October 31, 2021
(unaudited) | | | For the Year Ended April 30, | | | For the
Period
December 13,
2017(a) to
April 30, 2018 | | |
| | | | 2021 | | | 2020 | | | 2019 | | | | |
| Net asset value, beginning of period | | | | $ | 32.51 | | | | | $ | 21.95 | | | | | $ | 24.75 | | | | | $ | 25.30 | | | | | $ | 25.05 | | | |
| Income from Investment Operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income(b)(c) | | | | | 0.17 | | | | | | 0.38 | | | | | | 0.58 | | | | | | 0.48 | | | | | | 0.15 | | | |
| Net realized and unrealized gain (loss) | | | | | 2.44 | | | | | | 10.60 | | | | | | (2.80) | | | | | | (0.53) | | | | | | 0.18(d) | | | |
| Net increase (decrease) in net assets resulting from investment operations | | | | | 2.61 | | | | | | 10.98 | | | | | | (2.22) | | | | | | (0.05) | | | | | | 0.33 | | | |
| Distributions from: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | | (0.15) | | | | | | (0.42) | | | | | | (0.58) | | | | | | (0.50) | | | | | | (0.08) | | | |
| Net asset value, end of period | | | | $ | 34.97 | | | | | $ | 32.51 | | | | | $ | 21.95 | | | | | $ | 24.75 | | | | | $ | 25.30 | | | |
| Market price, end of period | | | | $ | 34.97 | | | | | $ | 32.54 | | | | | $ | 21.92 | | | | | $ | 24.75 | | | | | $ | 25.30 | | | |
| Total Return | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total investment return based on net asset
value(e) | | | | | 8.06% | | | | | | 50.46% | | | | | | (9.04)% | | | | | | (0.13)% | | | | | | 1.31% | | | |
Total investment return based on market price(f) | | | | | 7.97% | | | | | | 50.82% | | | | | | (9.18)% | | | | | | (0.13)% | | | | | | 1.32%(g) | | | |
| Ratios/Supplemental Data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 326,944 | | | | | $ | 305,608 | | | | | $ | 220,630 | | | | | $ | 278,412 | | | | | $ | 320,000 | | | |
| Ratio to average net assets of: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses net of waivers/ reimbursements(h) | | | | | 0.25%(i) | | | | | | 0.25% | | | | | | 0.25% | | | | | | 0.25% | | | | | | 0.25%(i) | | | |
Expenses excluding waivers/ reimbursements(h) | | | | | 0.26%(i) | | | | | | 0.26% | | | | | | 0.26% | | | | | | 0.26% | | | | | | 0.26%(i) | | | |
Net investment income (loss)(c) | | | | | 1.02%(i) | | | | | | 1.43% | | | | | | 2.35% | | | | | | 1.97% | | | | | | 1.59%(i) | | | |
Portfolio turnover rate(j) | | | | | 0% | | | | | | 68% | | | | | | 58% | | | | | | 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 Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate the market returns.
(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 Chaikin U.S. Small Cap ETF | | |
| | | | For the Six
Months Ended
October 31, 2021
(unaudited) | | | For the Year Ended April 30, | | | For the
Period
May 16,
2017(a) to
April 30, 2018 | | |
| | | | 2021 | | | 2020 | | | 2019 | | | | |
| Net asset value, beginning of period | | | | $ | 35.03 | | | | | $ | 20.02 | | | | | $ | 25.72 | | | | | $ | 27.13 | | | | | $ | 25.16 | | | |
| Income from Investment Operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income(b)(c) | | | | | 0.22 | | | | | | 0.35 | | | | | | 0.28 | | | | | | 0.27 | | | | | | 0.16 | | | |
| Net realized and unrealized gain (loss) | | | | | 1.21 | | | | | | 15.01 | | | | | | (5.72) | | | | | | (1.39) | | | | | | 1.93 | | | |
| Net increase (decrease) in net assets resulting from investment operations | | | | | 1.43 | | | | | | 15.36 | | | | | | (5.44) | | | | | | (1.12) | | | | | | 2.09 | | | |
| Distributions from: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | | (0.20) | | | | | | (0.35) | | | | | | (0.26) | | | | | | (0.29) | | | | | | (0.12) | | | |
| Net asset value, end of period | | | | $ | 36.26 | | | | | $ | 35.03 | | | | | $ | 20.02 | | | | | $ | 25.72 | | | | | $ | 27.13 | | | |
| Market price, end of period | | | | $ | 36.27 | | | | | $ | 35.03 | | | | | $ | 20.02 | | | | | $ | 25.72 | | | | | $ | 27.14 | | | |
| Total Return | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total investment return based on net asset
value(d) | | | | | 4.11% | | | | | | 77.31% | | | | | | (21.35)% | | | | | | (4.10)% | | | | | | 8.33% | | | |
Total investment return based on market price(e) | | | | | 4.14% | | | | | | 77.34% | | | | | | (21.34)% | | | | | | (4.14)% | | | | | | 8.36%(f) | | | |
| Ratios/Supplemental Data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 224,799 | | | | | $ | 206,659 | | | | | $ | 103,108 | | | | | $ | 348,555 | | | | | $ | 465,347 | | | |
| Ratio to average net assets of: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses net of waivers/ reimbursements(g) | | | | | 0.35%(h) | | | | | | 0.35% | | | | | | 0.35% | | | | | | 0.35% | | | | | | 0.35%(h) | | | |
Expenses excluding waivers/ reimbursements(g) | | | | | 0.36%(h) | | | | | | 0.36% | | | | | | 0.36% | | | | | | 0.36% | | | | | | 0.36%(h) | | | |
Net investment income (loss)(c) | | | | | 1.25%(h) | | | | | | 1.29% | | | | | | 1.14% | | | | | | 1.01% | | | | | | 0.61%(h) | | | |
Portfolio turnover rate(i) | | | | | 3% | | | | | | 76% | | | | | | 43% | | | | | | 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 Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate the market returns.
(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 Six
Months Ended
October 31, 2021
(unaudited) | | | For the Year Ended April 30, | | | For the
Period
December 13,
2018(a) to
April 30, 2019 | | |
| | | | 2021 | | | 2020 | | | | |
| Net asset value, beginning of period | | | | $ | 32.58 | | | | | $ | 22.29 | | | | | $ | 27.64 | | | | | $ | 25.50 | | | |
| Income from Investment Operations | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income(b)(c) | | | | | 0.55 | | | | | | 0.77 | | | | | | 0.72 | | | | | | 0.39 | | | |
| Net realized and unrealized gain (loss) | | | | | 0.52 | | | | | | 10.19 | | | | | | (5.40) | | | | | | 1.77 | | | |
Net increase (decrease) in net assets resulting from
investment operations | | | | | 1.07 | | | | | | 10.96 | | | | | | (4.68) | | | | | | 2.16 | | | |
| Distributions from: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | | (0.63) | | | | | | (0.67) | | | | | | (0.67) | | | | | | (0.02) | | | |
| Net asset value, end of period | | | | $ | 33.02 | | | | | $ | 32.58 | | | | | $ | 22.29 | | | | | $ | 27.64 | | | |
| Market price, end of period | | | | $ | 33.16 | | | | | $ | 32.52 | | | | | $ | 22.10 | | | | | $ | 27.65 | | | |
| Total Return | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total investment return based on net asset
value(d) | | | | | 3.32% | | | | | | 49.88% | | | | | | (17.33)% | | | | | | 8.47% | | | |
Total investment return based on market price(e) | | | | | 3.94% | | | | | | 50.94% | | | | | | (18.07)% | | | | | | 8.52% | | | |
| Ratios/Supplemental Data | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 244,344 | | | | | $ | 244,336 | | | | | $ | 218,451 | | | | | $ | 85,675 | | | |
| Ratio to average net assets of: | | | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses net of waivers/reimbursements(f) | | | | | 0.25%(g) | | | | | | 0.25% | | | | | | 0.25% | | | | | | 0.25%(g) | | | |
Expenses excluding waivers/reimbursements(f) | | | | | 0.26%(g) | | | | | | 0.26% | | | | | | 0.26% | | | | | | 0.26%(g) | | | |
Net investment income (loss)(c) | | | | | 3.31%(g) | | | | | | 2.86% | | | | | | 2.81% | | | | | | 3.90%(g) | | | |
Portfolio turnover rate(h) | | | | | 17% | | | | | | 9% | | | | | | 13% | | | | | | 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 Candriam ESG U.S. Equity ETF | |
| | | | For the Six
Months Ended
October 31, 2021
(unaudited) | | | For the
Year Ended
April 30, 2021 | | | For the
Period
December 17,
2019(a) to
April 30, 2020 | |
| Net asset value, beginning of period | | | | $ | 35.56 | | | | | $ | 24.13 | | | | | $ | 25.18 | | |
| Income from Investment Operations | | | | | | | | | | | | | | | | | | | |
Net investment income(b)(c) | | | | | 0.23 | | | | | | 0.42 | | | | | | 0.15 | | |
| Net realized and unrealized gain (loss) | | | | | 4.52 | | | | | | 11.32 | | | | | | (1.08) | | |
| Net increase (decrease) in net assets resulting from investment operations | | | | | 4.75 | | | | | | 11.74 | | | | | | (0.93) | | |
| Distributions from: | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | | (0.21) | | | | | | (0.31) | | | | | | (0.12) | | |
| Net asset value, end of period | | | | $ | 40.10 | | | | | $ | 35.56 | | | | | $ | 24.13 | | |
| Market price, end of period | | | | $ | 40.11 | | | | | $ | 35.57 | | | | | $ | 24.12 | | |
| Total Return | | | | | | | | | | | | | | | | | | | |
Total investment return based on net asset value(d) | | | | | 13.43% | | | | | | 48.85% | | | | | | (3.59)% | | |
Total investment return based on market price(e) | | | | | 13.41% | | | | | | 49.00% | | | | | | (3.64)%(f) | | |
| Ratios/Supplemental Data | | | | | | | | | | | | | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 481,246 | | | | | $ | 410,702 | | | | | $ | 6,034 | | |
| Ratio to average net assets of: | | | | | | | | | | | | | | | | | | | |
Expenses net of waivers/reimbursements(g) | | | | | 0.09%(h) | | | | | | 0.09% | | | | | | 0.09%(h) | | |
Expenses excluding waivers/reimbursements(g) | | | | | 0.10%(h) | | | | | | 0.10% | | | | | | 0.11%(h) | | |
Net investment income (loss)(c) | | | | | 1.21%(h) | | | | | | 1.35% | | | | | | 1.67%(h) | | |
Portfolio turnover rate(i) | | | | | 2% | | | | | | 21% | | | | | | 12% | | |
(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 Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate the market returns.
(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 Candriam ESG International Equity ETF | |
| | | | For the Six
Months Ended
October 31, 2021
(unaudited) | | | For the
Year Ended
April 30, 2021 | | | For the
Period
December 17,
2019(a) to
April 30, 2020 | |
| Net asset value, beginning of period | | | | $ | 29.21 | | | | | $ | 21.00 | | | | | $ | 25.19 | | |
| Income from Investment Operations | | | | | | | | | | | | | | | | | | | |
Net investment income(b)(c) | | | | | 0.44 | | | | | | 0.62 | | | | | | 0.26 | | |
| Net realized and unrealized gain (loss) | | | | | 1.02 | | | | | | 8.01 | | | | | | (4.34) | | |
| Net increase (decrease) in net assets resulting from investment operations | | | | | 1.46 | | | | | | 8.63 | | | | | | (4.08) | | |
| Distributions from: | | | | | | | | | | | | | | | | | | | |
| Net investment income | | | | | (0.51) | | | | | | (0.42) | | | | | | (0.11) | | |
| Net asset value, end of period | | | | $ | 30.16 | | | | | $ | 29.21 | | | | | $ | 21.00 | | |
| Market price, end of period | | | | $ | 30.26 | | | | | $ | 29.25 | | | | | $ | 20.87 | | |
| Total Return | | | | | | | | | | | | | | | | | | | |
Total investment return based on net asset value(d) | | | | | 5.06% | | | | | | 41.45% | | | | | | (16.18)% | | |
Total investment return based on market price(e) | | | | | 5.24% | | | | | | 42.51% | | | | | | (16.68)%(f) | | |
| Ratios/Supplemental Data | | | | | | | | | | | | | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 212,656 | | | | | $ | 186,951 | | | | | $ | 46,196 | | |
| Ratio to average net assets of: | | | | | | | | | | | | | | | | | | | |
Expenses net of waivers/reimbursements(g) | | | | | 0.15%(h) | | | | | | 0.15% | | | | | | 0.15%(h) | | |
Expenses excluding waivers/reimbursements(g) | | | | | 0.16%(h) | | | | | | 0.16% | | | | | | 0.16%(h) | | |
Net investment income (loss)(c) | | | | | 2.94%(h) | | | | | | 2.41% | | | | | | 3.20%(h) | | |
Portfolio turnover rate(i) | | | | | 4% | | | | | | 21% | | | | | | 3% | | |
(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 Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate the market returns.
(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 Healthy Hearts ETF | |
| | | | For the Six
Months Ended
October 31, 2021
(unaudited) | | | For the
Period
January 14,
2021(a) to
April 30, 2021 | |
| Net asset value, beginning of period | | | | $ | 26.24 | | | | | $ | 24.93 | | |
| Income from Investment Operations | | | | | | | | | | | | | |
Net investment income(b)(c) | | | | | 0.12 | | | | | | 0.14 | | |
| Net realized and unrealized gain (loss) | | | | | 2.44 | | | | | | 1.26 | | |
| Net increase (decrease) in net assets resulting from investment operations | | | | | 2.56 | | | | | | 1.40 | | |
| Distributions from: | | | | | | | | | | | | | |
| Net investment income | | | | | (0.17) | | | | | | (0.09) | | |
| Net asset value, end of period | | | | $ | 28.63 | | | | | $ | 26.24 | | |
| Market price, end of period | | | | $ | 28.71 | | | | | $ | 26.28 | | |
| Total Return | | | | | | | | | | | | | |
Total investment return based on net asset value(d) | | | | | 9.79% | | | | | | 5.62% | | |
Total investment return based on market price(e) | | | | | 9.91% | | | | | | 5.77%(f) | | |
| Ratios/Supplemental Data | | | | | | | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 7,158 | | | | | $ | 6,559 | | |
| Ratio to average net assets of: | | | | | | | | | | | | | |
Expenses net of waivers/reimbursements(g) | | | | | 0.45%(h) | | | | | | 0.45%(h) | | |
Expenses excluding waivers/reimbursements(g) | | | | | 0.46%(h) | | | | | | 0.46%(h) | | |
Net investment income (loss)(c) | | | | | 0.90%(h) | | | | | | 1.92%(h) | | |
Portfolio turnover rate(i) | | | | | 13% | | | | | | 14% | | |
(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 Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate the market returns.
(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 Engender
Equality ETF | |
| | | | For the
Period
October 21,
2021(a) to
October 31, 2021 | |
| Net asset value, beginning of period | | | | $ | 25.00 | | |
| Income from Investment Operations | | | | | | | |
Net investment income(b)(c) | | | | | 0.01 | | |
| Net realized and unrealized gain (loss) | | | | | 0.12 | | |
| Net increase (decrease) in net assets resulting from investment operations | | | | | 0.13 | | |
| Distributions from: | | | | | | | |
| Net asset value, end of period | | | | $ | 25.13 | | |
| Market price, end of period | | | | $ | 25.13 | | |
| Total Return | | | | | | | |
Total investment return based on net asset value(d) | | | | | 0.52% | | |
Total investment return based on market price(e) | | | | | 0.52%(f) | | |
| Ratios/Supplemental Data | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 5,026 | | |
| Ratio to average net assets of: | | | | | | | |
Expenses net of waivers/reimbursements(g) | | | | | 0.45%(h) | | |
Expenses excluding waivers/reimbursements(g) | | | | | 0.47%(h) | | |
Net investment income (loss)(c) | | | | | 1.40%(h) | | |
Portfolio turnover rate(i) | | | | | 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)
Since the Shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate the market returns.
(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 Cleaner
Transport ETF | |
| | | | For the
Period
October 21,
2021(a) to
October 31, 2021 | |
| Net asset value, beginning of period | | | | $ | 25.00 | | |
| Income from Investment Operations | | | | | | | |
Net investment income(b)(c) | | | | | — | | |
| Net realized and unrealized gain (loss) | | | | | 0.83 | | |
| Net increase (decrease) in net assets resulting from investment operations | | | | | 0.83 | | |
| Distributions from: | | | | | | | |
| Net asset value, end of period | | | | $ | 25.83 | | |
| Market price, end of period | | | | $ | 25.86 | | |
| Total Return | | | | | | | |
Total investment return based on net asset value(d) | | | | | 3.30% | | |
Total investment return based on market price(e) | | | | | 3.44%(f) | | |
| Ratios/Supplemental Data | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 5,165 | | |
| Ratio to average net assets of: | | | | | | | |
Expenses net of waivers/reimbursements(g) | | | | | 0.45%(h) | | |
Expenses excluding waivers/reimbursements(g) | | | | | 0.47%(h) | | |
Net investment income (loss)(c) | | | | | 0.15%(h) | | |
Portfolio turnover rate(i) | | | | | 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)
Since the Shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate the market returns.
(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 Clean
Oceans ETF | |
| | | | For the
Period
October 21,
2021(a) to
October 31, 2021 | |
Net asset value, beginning of period | | | | $ | 25.00 | | |
| Income from Investment Operations | | | | | | | |
Net investment income(b)(c) | | | | | 0.01 | | |
| Net realized and unrealized gain (loss) | | | | | 0.44 | | |
| Net increase (decrease) in net assets resulting from investment operations | | | | | 0.45 | | |
| Distributions from: | | | | | | | |
| Net asset value, end of period | | | | $ | 25.45 | | |
| Market price, end of period | | | | $ | 25.49 | | |
| Total Return | | | | | | | |
Total investment return based on net asset value(d) | | | | | 1.82% | | |
Total investment return based on market price(e) | | | | | 1.96%(f) | | |
| Ratios/Supplemental Data | | | | | | | |
| Net assets, end of period (000’s omitted) | | | | $ | 5,091 | | |
| Ratio to average net assets of: | | | | | | | |
Expenses net of waivers/reimbursements(g) | | | | | 0.45%(h) | | |
Expenses excluding waivers/reimbursements(g) | | | | | 0.47%(h) | | |
Net investment income (loss)(c) | | | | | 0.78%(h) | | |
Portfolio turnover rate(i) | | | | | 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)
Since the Shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate the market returns.
(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.
Notes to Financial Statements
October 31, 2021 (unaudited)
1. ORGANIZATION
IndexIQ ETF Trust (the “Trust”) was organized as a Delaware statutory trust on July 1, 2008 and is registered with the Securities and Exchange Commission (“SEC”) as an open-end, management investment company, as defined by the Investment Company Act of 1940, as amended (the “1940 Act”). The Trust is currently comprised of twenty operational funds (collectively, the “Funds” and each individually, a “Fund”). The Funds are exchange-traded funds (“ETFs”), whose shares are listed on a stock exchange and traded like equity securities at market prices.
Investors may find the financial statements of any issuer whose securities represent a significant amount of the Fund’s assets on the SEC’s website (www.sec.gov).
| | 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* | | | Diversified | | | October 27, 2009 | |
| | IQ S&P High Yield Low Volatility Bond ETF | | | Diversified | | | February 15, 2017 | |
| | IQ Merger Arbitrage ETF | | | Non-diversified | | | November 17, 2009 | |
| | IQ Global Resources ETF | | | Non-diversified | | | October 27, 2009 | |
| | IQ U.S. Real Estate Small Cap ETF | | | Non-diversified | | | June 14, 2011 | |
| | IQ 50 Percent Hedged FTSE International ETF | | | Diversified | | | July 22, 2015 | |
| | IQ Chaikin U.S. Large Cap ETF | | | Diversified | | | December 13, 2017 | |
| | IQ Chaikin U.S. Small Cap ETF | | | Diversified | | | May 16, 2017 | |
| | IQ 500 International ETF | | | Diversified | | | December 13, 2018 | |
| | IQ Candriam ESG U.S. Equity ETF | | | Diversified | | | December 17, 2019 | |
| | IQ Candriam ESG International Equity ETF | | | Diversified | | | December 17, 2019 | |
| | IQ Healthy Hearts ETF | | | Non-diversified | | | January 14, 2021 | |
| | IQ Engender Equality ETF | | | Non-diversified | | | October 21, 2021 | |
| | IQ Cleaner Transport ETF | | | Non-diversified | | | October 21, 2021 | |
| | IQ Clean Oceans ETF | | | Non-diversified | | | October 21, 2021 | |
*
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”).
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
Each Fund’s investment objective is to seek daily investment results, before fees and expenses that correspond to the performance of a particular index (the “Underlying Index”). The underlying indices for the Funds are listed below:
| | 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 S&P High Yield Low Volatility Bond ETF | | | S&P U.S. High Yield Low Volatility Corporate Bond Index | |
| | IQ Merger Arbitrage ETF | | | IQ Merger Arbitrage Index | |
| | IQ Global Resources ETF | | | IQ Global Resources Index | |
| | IQ U.S. Real Estate Small Cap ETF | | | IQ U.S. Real Estate Small Cap Index | |
| | IQ 50 Percent Hedged FTSE International ETF | | | FTSE Developed ex North America 50% Hedged to USD Index | |
| | IQ Chaikin U.S. Large Cap ETF | | | NASDAQ Chaikin Power U.S. Large Cap Index | |
| | IQ Chaikin U.S. Small Cap ETF | | | NASDAQ Chaikin Power U.S. Small Cap Index | |
| | IQ 500 International ETF | | | IQ 500 International Index | |
| | IQ Candriam ESG U.S. Equity ETF | | | IQ Candriam ESG US Equity Index | |
| | IQ Candriam ESG International Equity ETF | | | IQ Candriam ESG International Equity Index | |
| | IQ Healthy Hearts ETF | | | IQ Candriam Healthy Hearts Index | |
| | IQ Engender Equality ETF | | | Solactive Equileap US Select Gender Equality Index | |
| | IQ Cleaner Transport ETF | | | IQ Candriam Cleaner Transport Index | |
| | IQ Clean Oceans ETF | | | IQ Candriam Clean Oceans Index | |
2. SIGNIFICANT ACCOUNTING POLICIES
Each Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standard Codification Topic 946 Financial Services — Investment Companies. Each Fund prepares its financial statements in accordance with generally accepted accounting principles (“GAAP”) in the United States of America and follows the significant accounting policies described below.
Use of Estimates
IndexIQ Advisors LLC (the “Advisor”) makes certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of increases and decreases in the net assets from operations during the reporting period. Actual results could differ from those estimates.
Indemnification
In the normal course of business, the Funds may enter into contracts that contain a variety of representations and warranties that may provide general indemnifications for certain liabilities. Under the Trust’s organizational documents, its officers and trustees are indemnified against certain liabilities that may arise out of performance of their duties to the Trust. The Funds’ maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. The Advisor believes that the risk of loss in connection with these potential indemnification obligations is remote. However, there can be no assurance that material liabilities related to such obligations will not arise in the future, which could adversely impact the Funds.
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
Investment Valuation
Each Fund issues and redeems shares on a continuous basis at Net Asset Value (“NAV”) only in large blocks of shares called “Creation Units.” A Creation Unit consists of 50,000 shares. The NAV is determined as of the close of trading (generally, 4:00 PM Eastern Time) on each day the Fund’s listing exchange is open for trading. The NAV of the shares of each Fund will be equal to each Fund’s total assets minus each Fund’s total liabilities divided by the total number of shares outstanding. The NAV that is published will be rounded to the nearest cent; however, for purposes of determining the price of Creation Units, the NAV will be calculated to five decimal places. The consideration for purchase of a Creation Unit of shares of each Fund generally consists of a basket of securities and/or cash that the Fund specifies each day.
In calculating NAV, each Fund’s investments are valued using market quotations when available. Equity securities are generally valued at the closing price of the security on the security’s primary exchange. The primary exchanges for a Fund’s foreign equity securities may close for trading at various times prior to close of regular trading on the New York Stock Exchange Arca, and the value of such securities used in computing the Fund’s NAV are generally determined as of such times.
A Fund typically values fixed-income portfolio securities using last available bid prices or current market quotations provided by dealers or prices (including evaluated prices) supplied by the Fund’s approved independent third-party pricing services. Pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values. Pricing services generally value fixed-income securities assuming orderly transactions of an institutional round lot size, but a Fund may hold or transact in such securities in smaller odd lot sizes. Odd lots often trade at different prices that may be above or below the price at which the pricing service has valued the security. Amortized cost is used as the method of valuation with respect to debt obligations with sixty days or less remaining to maturity unless the Advisor determines in good faith that such method does not represent fair value.
A swap on an exchange-listed security or securities is valued based on the last reported sale price of the swap’s underlying security or securities on the exchange where the security or securities is primarily traded, or if no sale price is available, at the mid-price of the security or securities underlying the swap on the exchange where the security is primarily traded. A swap on an index is valued based on the publicly available index price. The index price, in turn, is determined by the applicable index calculation agent, which generally values the securities underlying the index at the last reported sale price.
Over-the-counter (“OTC”) traded financial Instruments, forward foreign currency contracts and currency-related derivatives, are normally valued on the basis of quotes obtained from a third party broker-dealer who makes markets in such securities or on the basis of quotes obtained from an independent third-party pricing service.
If a Fund invests in open-end management investment companies (other than ETFs) registered under the 1940 Act, it may rely on the NAVs of those companies to value the shares they hold of them. Those companies may also use fair value pricing under some circumstances.
When market quotations or prices are not readily available or are deemed unreliable or not representative of an investment’s fair value, investments are valued using fair value pricing as determined in good faith by the Advisor, under procedures established by and under the general supervision and responsibility of the Trust’s Board of Trustees (the “Board”). The procedures state that, subject to the oversight of the Board and unless otherwise noted, the responsibility for the day-to-day valuation of portfolio assets (including fair value measurements for the Funds’ assets and liabilities) rests with the Advisor. The Advisor may conclude that a market quotation is not readily available or is unreliable if a security or other asset or liability does not have a price source due to its lack of liquidity or other reason, if a market quotation differs significantly from recent price quotations or otherwise no longer appears to reflect fair value, where the security or other asset or liability is thinly traded, or if the trading market on which a security is listed is suspended or closed and no appropriate alternative trading market is available. The frequency with which a Fund’s investments are valued using fair value pricing is primarily a function of the types of securities and other assets in which the Fund invests pursuant to its investment objective, strategies and limitations.
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
A Fund may sweep uninvested cash balances into a money market fund, either the Dreyfus Institutional Preferred Government Money Market Fund — Institutional Shares (“Dreyfus Institutional Fund”) or the BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class (“BlackRock Liquidity Fund”). The Dreyfus Institutional Fund and the BlackRock Liquidity Fund seek as high a level of current income as is consistent with the preservation of capital and maintenance of liquidity. The Dreyfus Institutional Fund and the BlackRock Liquidity Fund have no redemption restriction and are valued at the daily NAV.
Under normal conditions, each Fund invests cash collateral from securities lending activities into the Dreyfus Government Cash Management Fund, Institutional Shares (“Dreyfus Government Fund”). The Dreyfus Government Fund’s investment objective is to maximize current income to the extent consistent with the preservation of capital and the maintenance of liquidity. The Dreyfus Government Fund has no redemption restrictions and is valued at the daily NAV.
Fair Value Measurement
Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures defines fair value, establishes a framework for measuring fair value in accordance with GAAP, and requires disclosure about fair value measurements. It also provides guidance on determining when there has been a significant decrease in the volume and level of activity for an asset or liability, when a transaction is not orderly, and how that information must be incorporated into fair value measurement. Under ASC 820, various inputs are used in determining the value of the Funds’ investments. These inputs are summarized in the following hierarchy:
•
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.
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.
The availability of observable inputs can vary from security to security and are affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. With respect to the valuation of Level 3 securities, the Advisor may employ a market-based valuation approach which may use related or comparable securities, recent transactions, market multiples, book values, and other relevant information to determine fair value. The Advisor may also use an income-based valuation approach in which anticipated future cash flows of the financial instrument are discounted to calculate fair value. The Advisor representatives meet regularly to review and discuss the appropriateness of such fair values using more current information, such as recent security news, recent market transactions, updated corporate action information and/or other macro or security specific events.
All other securities and investments for which market values are not readily available, including restricted securities, and those securities for which it is inappropriate to determine prices in accordance with the aforementioned procedures, are valued at fair value as determined in good faith under procedures adopted by the Board, although the actual calculations may be done by others. Factors considered in making this
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
determination may include, but are not limited to, information obtained by contacting the issuer, analysts, or the appropriate stock exchange (for exchange-traded securities), analysis of the issuer’s financial statements or other available documents and, if necessary, available information concerning other securities in similar circumstances.
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The hierarchy classification of inputs used to value each Fund’s investments at October 31, 2021 is disclosed at the end of each Fund’s Schedule of Investments.
Foreign Currency Translation — Assets and liabilities denominated in foreign currencies are translated into U.S. dollars using the current exchange rates at the close of each business day. The effect of changes in foreign currency exchange rates on investments is included within net realized and unrealized gain (loss) on investments. Changes in the value of other assets and liabilities as a result of fluctuations in foreign exchange rates are included on the Statements of Operations within net change in unrealized appreciation/depreciation on foreign currency translations. Transactions denominated in foreign currencies are translated into U.S. dollars on the date the transaction occurred, the effects of which are included within net realized gain (loss) on foreign currency transactions.
Foreign securities and instruments are valued in their local currency following the methodologies described above. Foreign securities, instruments and currencies will be translated to U.S. dollars, based on foreign currency exchange rate quotations supplied by the London Stock Exchange.
Tax Information and Uncertain Tax Positions
Each Fund is treated as a separate entity for federal income tax purposes. Each Fund’s policy is to comply with the requirements of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), applicable to regulated investment companies and to distribute all of the taxable income to the shareholders of the Funds within the allowable time limits.
The Advisor evaluates each Fund’s tax positions to determine if the tax positions taken meet the minimum recognition threshold in connection with accounting for uncertainties in income tax positions taken or expected to be taken for the purposes of measuring and recognizing tax liabilities in the financial statements. Recognition of tax benefits of an uncertain tax position is required only when the position is “more likely than not” to be sustained assuming examination by taxing authorities. The Advisor has analyzed each Fund’s tax positions taken on federal, state and local income tax returns for all open tax years (for up to three tax years), and has concluded that no provisions for federal, state and local income tax are required in each Fund’s financial statements. Each Fund’s federal, state and local income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state and local departments of revenue.
The Funds have concluded that there is no tax liability resulting from uncertain income tax positions taken or expected to be taken.
Dividends and Distributions to Shareholders
Distributions to Shareholders are recorded on the ex-dividend date. In addition, the Funds may determine to distribute at least annually amounts representing the full dividend yield net of expenses on the underlying investment securities, as if the Funds owned the underlying investment securities for the entire dividend period in which case some portion of each distribution may result in a return of capital. The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with federal income tax regulations which may differ from GAAP. These “book/tax” differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions, which exceed earnings and profit for tax purposes, are reported as a tax return of capital. Therefore, no federal, state and local income tax provisions are required.
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
Foreign Taxes
The Funds may be subject to foreign withholding taxes on income and other transaction-based taxes imposed by certain countries in which they invest. A portion of the taxes on gains on investments or currency purchases/repatriation may be recoverable. The Funds will accrue such taxes expected and recoveries as applicable, based upon their current interpretation of tax rules and regulations that exist in the markets in which they invest. Whether or when a Fund will receive a withholding tax refund is subject to a determination by the tax authorities of each country in which the Fund has an open receivable. The Funds regularly evaluate the probability of recovering each accrued withholding tax. If the likelihood of recovery decreases accruals in the Funds’ net asset value for such refunds may be written down partially or in full, which will adversely affect the Funds’ net asset value.
The Funds may be subject to taxation on realized capital gains, repatriation proceeds and other transaction-based taxes imposed by certain countries in which they invest. The Funds will accrue the unrecoverable portion of such taxes as applicable based upon their current interpretation of tax rules and regulations that exist in the market in which they invests. Capital gains taxes relating to positions still held are reflected as a liability on the Statements of Assets and Liabilities, as well as an adjustment to the Funds’ net unrealized appreciation/depreciation. Taxes related to capital gains realized during the year ended October 31, 2021, if any, are reflected as part of net realized gain (loss) on the Statements of Operations. Changes in tax liabilities related to capital gains taxes on unrealized investment gains, if any, are reflected as part of the change in net unrealized appreciation/depreciation on investments on the Statements of Operations. Transaction-based charges are generally assessed as a percentage of the transaction amount.
Cash Equivalents
Cash equivalents consist of highly liquid investments, with maturities of three months or less when acquired and are disclosed as “Short-Term Investments” in the Schedules of Investments.
Security Transactions
Security transactions are recorded as of the trade date. Realized gains and losses on sales of investment securities are calculated using the identified cost method.
Investment Income and Expenses
Dividend income is recognized on the ex-date. Interest income is accrued daily. Distributions of realized capital gains by underlying funds are recorded as realized capital gains on the ex-date. Expenses of the Trust arising in connection with a specific Fund are allocated to that Fund. Other Trust expenses which cannot be directly attributed to a fund are apportioned among the Funds in the Trust based upon the relative net assets or other appropriate measures. The Funds distribute substantially all their net investment income to shareholders at least annually in the form of dividends. Net investment income and capital gains are typically distributed to shareholders annually; except the IQ U.S. Real Estate Small Cap ETF, IQ 50 Percent Hedged FTSE International ETF, IQ Chaikin U.S. Large Cap ETF, IQ Chaikin U.S. Small Cap ETF, IQ 500 International ETF, IQ Candriam ESG U.S. Equity ETF, IQ Candriam ESG International Equity ETF, and IQ Healthy Hearts ETF typically distributes income quarterly, and IQ S&P High Yield Low Volatility Bond ETF typically distributes income monthly. Dividends may be declared and paid more frequently to comply with the distribution requirements of the Internal Revenue Code. Distributions received from the IQ U.S. Real Estate Small Cap ETF investments in U.S. real estate investment trusts (“REITs”) may be characterized as ordinary income, net capital gain or a return of capital. A return of capital is recorded by the Funds as a reduction to the cost basis of a REIT held by the Fund. 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.
Discounts and premiums on securities purchased, other than Short-Term Investments, for the Funds are accreted and amortized, respectively, on the effective interest rate method over the life of the respective securities. Discounts and premiums on Short-Term Investments are accreted and amortized, respectively, on the straight-line method. The straight-line method approximates the effective interest method for Short-Term Investments. Income from payment-in-kind securities is accreted daily based on the effective interest method.
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
Securities Lending
The Bank of New York Mellon (“BNY Mellon”) serves as the Funds’ securities lending agent. The Funds may lend portfolio securities to certain creditworthy borrowers, including the Funds’ securities lending agent. It is the Funds’ policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral in the form of cash and/or high grade debt obligations, is maintained at all times. Cash collateral can be invested in certain money market mutual funds which also have exposure to the fluctuations of the market. Each Fund receives compensation for lending its securities from fees paid by the borrowers of securities, net of fee rebates paid to the borrower plus reasonable administrative and custody fees. Each Fund will continue to receive dividend and interest income on securities loaned, any gain or loss in the market price of securities on loan will be accounted for by each Fund. Lending portfolio securities could result in a delay in recovering the Funds’ securities if the borrower defaults.
A Fund’s security lending activities are governed by a Securities Lending Authorization Agreement (“Lending Agreement”) between each Fund and the lending agent. The Lending Agreement authorizes the lending agent to lend qualifying U.S. and foreign securities held by a Fund to approved borrowers (each a “Borrower”). To mitigate borrower risk, a Fund typically receives from a Borrower, collateral in the form of U.S. dollar cash and/or securities issued or guaranteed by the U.S. Government or its agencies in excess of the market value of the securities loaned. Under the provisions of the Lending Agreement, each Fund shall have, as to the collateral, all of the rights and remedies of a secured party under applicable law. The lending agent is permitted to invest the cash collateral it receives from a Borrower into a money market Fund which is subject to market fluctuation. Therefore, a Fund is exposed to risk of loss if the value of invested cash collateral is insufficient to satisfy the Fund’s obligation to return the full amount owed to such Borrower.
In accordance with the securities lending agreement between the Funds and the BNY Mellon, the Funds will be indemnified by the BNY Mellon in the event of default of a third party Borrower.
The securities lending income earned by each Fund is disclosed on the Statements of Operations. The value of loaned securities and related collateral are shown on a gross basis in the Schedules of Investments and Statements of Assets and Liabilities. As of October 31, 2021, the cash collateral consisted of an institutional money market fund and non-cash collateral consisted of U.S. Treasury Bills, Notes, Bonds, Separate Trading of
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
Registered Interest (“STRIPs”) and Principal of Securities and U.S. Treasury Inflation Indexed Notes and Bonds with the following maturities:
| | | | 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 | | | | $ | 85,810,162 | | | | | $ | 17,384 | | | | | $ | 1,290,133 | | | | | $ | 46,458,274 | | | | | $ | 133,575,953 | | |
| IQ Hedge Macro Tracker ETF | | | | | 259,144 | | | | | | 16 | | | | | | 14,845 | | | | | | 105,170 | | | | | | 379,174 | | |
| IQ Hedge Market Neutral Tracker ETF | | | | | 755,685 | | ��� | | | | — | | | | | | — | | | | | | 269,497 | | | | | | 1,025,182 | | |
| IQ Hedge Long/Short Tracker ETF | | | | | 2,812,287 | | | | | | 20 | | | | | | 6,641 | | | | | | 2,312,405 | | | | | | 5,131,353 | | |
| IQ Hedge Event-Driven Tracker ETF | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Real Return ETF | | | | | 10,655,988 | | | | | | — | | | | | | 284,066 | | | | | | 5,403,459 | | | | | | 16,343,513 | | |
| IQ S&P High Yield Low Volatility Bond ETF | | | | | 470,079 | | | | | | — | | | | | | 3,191 | | | | | | 72,425 | | | | | | 545,695 | | |
| IQ Merger Arbitrage ETF | | | | | 14,357,365 | | | | | | — | | | | | | 8,134 | | | | | | 329,369 | | | | | | 14,694,868 | | |
| IQ Global Resources ETF | | | | | 430,838 | | | | | | 42 | | | | | | 1,995 | | | | | | 332,530 | | | | | | 765,405 | | |
| IQ U.S. Real Estate Small Cap ETF | | | | | 329,648 | | | | | | 474 | | | | | | 148,324 | | | | | | 1,346,688 | | | | | | 1,825,134 | | |
| IQ 50 Percent Hedged FTSE International ETF | | | | | 7,551,732 | | | | | | 5,272 | | | | | | 141,714 | | | | | | 4,715,680 | | | | | | 12,414,398 | | |
| IQ Chaikin U.S. Large Cap ETF | | | | | 2,884,828 | | | | | | 1,752 | | | | | | 11,401 | | | | | | 2,300,810 | | | | | | 5,198,791 | | |
| IQ Chaikin U.S. Small Cap ETF | | | | | 2,755,533 | | | | | | 967 | | | | | | 95,048 | | | | | | 6,898,352 | | | | | | 9,749,900 | | |
| IQ 500 International ETF | | | | | 6,556,918 | | | | | | — | | | | | | — | | | | | | 434,545 | | | | | | 6,991,463 | | |
| IQ Candriam ESG U.S. Equity ETF | | | | | 201,975 | | | | | | 2,057 | | | | | | 103,657 | | | | | | 8,663,344 | | | | | | 8,971,033 | | |
| IQ Candriam ESG International Equity ETF | | | | | 2,953,100 | | | | | | — | | | | | | 10,935 | | | | | | 3,056,685 | | | | | | 6,020,720 | | |
| IQ Healthy Hearts ETF | | | | | — | | | | | | — | | | | | | 627 | | | | | | 81,172 | | | | | | 81,799 | | |
| IQ Engender Equality ETF | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Cleaner Transport ETF | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Clean Oceans ETF | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
The collateral amount presented is in excess of the securities on loan.
Master Netting Arrangements
In order to better define its contractual rights and to secure rights that will help a Fund mitigate its counterparty risk, a Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or similar agreement with its counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that governs OTC derivatives, including forward foreign currency contracts, and typically contains, among other things, collateral posting terms, netting and rights of offset provisions in the event of a default and/or termination event. Generally, the amount of collateral due from or to a counterparty must exceed a minimum transfer amount threshold before a transfer is required to be made. To the extent amounts due to a Fund from its derivatives counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from counterparty non-performance.
For financial reporting purposes, the Funds do not offset assets and liabilities subject to master netting arrangements or similar arrangements on the Statements of Assets and Liabilities. Therefore, all qualifying transactions are presented on a gross basis on the Statements of Assets and Liabilities.
Total return swap contracts are valued at the unrealized appreciation/depreciation on Total Return Swap contracts of the instrument. Securities segregated as collateral for swap contracts are footnoted within each Fund’s Schedule of Investments and the cash collateral is noted at the end of each Fund’s swap table.
At October 31, 2021, the unrealized appreciation/depreciation on total return swap contracts for the following Funds was zero, reflecting a reset date at period end based on the contractual agreements with Merrill Lynch International (“MLI”) and Morgan Stanley Capital Service LLC (“Morgan Stanley”), as counterparties to the following Funds:
IQ Hedge Multi-Strategy Tracker ETF
IQ Hedge Macro Tracker ETF
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
IQ Hedge Market Neutral Tracker ETF
IQ Hedge Long/Short Tracker ETF
IQ Hedge Event-Driven Tracker ETF
IQ Merger Arbitrage ETF
As of October 31, 2021, the impact of netting of assets and liabilities and offsetting of collateral pledged or received based on contractual netting provisions in the Lending Agreement with BNY Mellon are detailed in the following table:
| | | | 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 | | | | $ | 130,691,744 | | | | | $ | (130,691,744) | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
| IQ Hedge Macro Tracker ETF | | | | | 370,352 | | | | | | (370,352) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Hedge Market Neutral Tracker ETF | | | | | 1,003,642 | | | | | | (1,003,642) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Hedge Long/Short Tracker ETF | | | | | 5,017,207 | | | | | | (5,017,207) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Hedge Event-Driven Tracker ETF | | | | | 1,468,714 | | | | | | (1,468,714) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Real Return ETF | | | | | 16,001,121 | | | | | | (16,001,121) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ S&P High Yield Low Volatility Bond ETF | | | | | 526,467 | | | | | | (526,467) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Merger Arbitrage ETF | | | | | 15,016,244 | | | | | | (15,016,244) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Global Resources ETF | | | | | 727,385 | | | | | | (727,385) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ U.S. Real Estate Small Cap ETF | | | | | 1,779,137 | | | | | | (1,779,137) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ 50 Percent Hedged FTSE International ETF | | | | | 9,061,008 | | | | | | (9,061,008) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Chaikin U.S. Large Cap ETF | | | | | 4,982,308 | | | | | | (4,982,308) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Chaikin U.S. Small Cap ETF | | | | �� | 9,481,955 | | | | | | (9,481,955) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ 500 International ETF | | | | | 6,539,412 | | | | | | (6,539,412) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Candriam ESG U.S. Equity ETF | | | | | 8,848,522 | | | | | | (8,848,522) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Candriam ESG International Equity ETF | | | | | 3,557,911 | | | | | | (3,557,911) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Healthy Hearts ETF | | | | | 80,975 | | | | | | (80,975) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Engender Equality ETF | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Cleaner Transport ETF | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Clean Oceans ETF | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
1 The amount of collateral presented is limited such that the net amount cannot be less than $0.
As of October 31, 2021, each Fund’s OTC derivative assets, which may be offset against each Fund’s OTC derivative liabilities and collateral received from the counterparty, are as follows:
| 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 | | | | $ | 969,794 | | | | | $ | (969,794) | | | | | $ | — | | | | | $ | 1,441,345 | | | | | $ | (969,794) | | | | | $ | 471,551 | | |
This does not reflect securities segregated as collateral, as detailed on the Schedule of Investments.
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
3. INVESTMENT MANAGEMENT AND OTHER AGREEMENTS
Investment Advisory Agreement
The Advisor serves as the investment advisor to each series of the Trust and is an indirect wholly-owned subsidiary of New York Life Investment Management Holdings LLC. Under an Investment Advisory Agreement (“Advisory Agreement”) between the Advisor and the Trust on behalf of each Fund, the Advisor provides a continuous investment program for each Fund’s assets in accordance with its investment objectives, policies and limitations, and oversees the day-to-day operations of each Fund (including arranging for sub-advisory services, as applicable) subject to the supervision of the Board. The Advisor is responsible for the supervision of MacKay Shields LLC (“MacKay Shields” or the “Sub-Advisor”), the sub-advisor to IQ S&P High Yield Low Volatility Bond ETF, and its management of the Fund.
The Advisor also: (i) supervises all non-advisory operations of the Funds; (ii) provides personnel to perform such executive, administrative and clerical services as are reasonably necessary to provide effective administration of the Funds and the other series of the Trust; (iii) arranges for (a) the preparation of all required tax returns, (b) the preparation and submission of reports to existing shareholders, (c) the periodic updating of prospectuses and statements of additional information and (d) the preparation of reports to be filed with the SEC and other regulatory authorities; (iv) maintains the records of the Funds and the other series of the Trust; and (v) provides office space and all necessary office equipment and services. The Funds reimburse the Advisor in an amount equal to a portion of the compensation of the Chief Compliance Officer attributable to each Fund.
The Advisory Agreement will continue in effect with respect to the Funds from year to year provided such continuance is specifically approved at least annually by a majority of the Trustees that are not interested persons of the Trust (“Independent Trustees”).
Pursuant to the Advisory Agreement, the Funds pay the Advisor a fee, which is accrued daily and paid monthly, for the services performed and the facilities furnished at an annual rate of each Fund’s average daily net assets per the table below.
| 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 S&P High Yield Low Volatility Bond ETF | | | | | 0.40% | | |
| IQ Merger Arbitrage ETF | | | | | 0.75% | | |
| IQ Global Resources ETF | | | | | 0.30% | | |
| IQ U.S. Real Estate Small Cap ETF | | | | | 0.69% | | |
| IQ 50 Percent Hedged FTSE International ETF | | | | | 0.35% | | |
| IQ Chaikin U.S. Large Cap ETF | | | | | 0.25% | | |
| IQ Chaikin U.S. Small Cap ETF | | | | | 0.35% | | |
| IQ 500 International ETF | | | | | 0.25% | | |
| IQ Candriam ESG U.S. Equity ETF | | | | | 0.09% | | |
| IQ Candriam ESG International Equity ETF | | | | | 0.15% | | |
| IQ Healthy Hearts ETF | | | | | 0.45% | | |
| IQ Engender Equality ETF | | | | | 0.45% | | |
| IQ Cleaner Transport ETF | | | | | 0.45% | | |
| IQ Clean Oceans ETF | | | | | 0.45% | | |
The Advisor has agreed to pay all expenses of the Funds, except: brokerage and other transaction expenses; extraordinary legal fees or expenses, such as those for litigation or arbitration; compensation and expenses of the Independent Trustees, counsel to the Independent Trustees, and the Chief Compliance Officer;
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
extraordinary expenses; distribution fees and expenses paid by the Funds under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act; and the advisory fee payable to the Advisor.
The Advisor has entered into a Fee Waiver Agreement with certain Funds under which it has contractually agreed, until August 31, 2022, to waive a portion of its management fee equal to a specific percentage of the average daily net assets as follows:
| Fund | | | Rate | |
| IQ Hedge Multi-Strategy Tracker ETF | | | | | 0.22% | | |
| IQ Hedge Macro Tracker ETF | | | | | 0.35% | | |
| IQ Hedge Market Neutral Tracker ETF | | | | | 0.35% | | |
| IQ Hedge Long/Short Tracker ETF | | | | | 0.35% | | |
| IQ Hedge Event-Driven Tracker ETF | | | | | 0.35% | | |
| IQ Real Return ETF | | | | | 0.28% | | |
The Advisor has entered into an Expense Limitation Agreement with certain Funds under which it has contractually agreed, until August 31, 2022 to waive a portion of its management fee and/or reimburse expenses of the Fund in an amount that limits the Fund’s total annual operating expenses (exclusive of interest, taxes, brokerage fees and commissions, dividends paid on short sale, acquired fund fees and expenses, and extraordinary expenses) to not more than a specific percentage of the average daily net assets as follows:
| Fund | | | Rate | |
| IQ S&P High Yield Low Volatility Bond ETF | | | | | 0.40% | | |
| IQ Global Resources ETF | | | | | 0.30% | | |
| IQ 50 Percent Hedged FTSE International ETF | | | | | 0.20% | | |
| IQ Chaikin U.S. Large Cap ETF | | | | | 0.25% | | |
| IQ Chaikin U.S. Small Cap ETF | | | | | 0.35% | | |
| IQ 500 International ETF | | | | | 0.25% | | |
| IQ Candriam ESG U.S. Equity ETF | | | | | 0.09% | | |
| IQ Candriam ESG International Equity ETF | | | | | 0.15% | | |
| IQ Healthy Hearts ETF | | | | | 0.45% | | |
| IQ Engender Equality ETF | | | | | 0.45% | | |
| IQ Cleaner Transport ETF | | | | | 0.45% | | |
| IQ Clean Oceans ETF | | | | | 0.45% | | |
Investment Sub-Advisory Agreement
The Sub-Advisor is a registered investment advisor and an indirect, wholly-owned subsidiary of New York Life, and is responsible for the day-to-day portfolio management of IQ S&P High Yield Low Volatility Bond ETF. Pursuant to the terms of the Sub-Advisory Agreement (“Sub-Advisory Agreement”) between the Advisor and the Sub-Advisor, the Advisor pays for the services of the Sub-Advisor. The Sub-Advisor acts as portfolio manager for the Fund subject to the supervision of the Advisor and the Board.
Distribution (12b-1 Fees)
ALPS Distributors, Inc. serves as the Funds’ distributor (the “Distributor”) pursuant to a Distribution Agreement. NYLIFE Distributors LLC has entered into a Service Agreement with the Distributor to market the Funds. The Board has adopted a Distribution and Service Plan pursuant to Rule 12b-1 under the 1940 Act (“Rule 12b-1 Plan”). In accordance with the Rule 12b-1 Plan, the Funds are authorized to pay an amount up to 0.10% of each Fund’s average daily net assets each year for certain distribution-related activities. As authorized by the Board, no Rule 12b-1 fees are currently paid by the Funds and there are no plans to impose these fees. However, in the event Rule 12b-1 fees are charged in the future, they will be paid out of each respective Fund’s assets. The Advisor and its affiliates may, out of their own resources, pay amounts to third parties for distribution or marketing services on behalf of the Funds.
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
As described in Note 4 below, the Distributor has entered into Participant Agreements with certain broker-dealers and others that allow those parties to be Authorized Participants and to subscribe for and redeem shares of the Funds. As described in Note 4 below, such Authorized Participants may from time to time hold, of record or beneficially, a substantial percentage of the Funds’ shares outstanding, act as executing or clearing broker for investment transactions on behalf of the Funds and/or serve as counterparty to derivative transactions with each Fund.
Administrator, Custodian and Transfer Agent
BNY Mellon (in each capacity, the “Administrator,” “Custodian” or “Transfer Agent”) serves as the Funds’ Administrator, Custodian and Transfer Agent pursuant to the Fund Administration and Accounting Agreement. Under the terms of this agreement, the Advisor pays the Funds’ Administrative, Custody and Transfer Agency fees. Pursuant to these agreements, BNY Mellon provides necessary administrative, custody, transfer agency, tax, accounting services and financial reporting for the maintenance and operations of the Trust and the Funds. BNY Mellon is responsible for maintaining the books and records and calculating the daily NAV of the Funds. BNY Mellon is a subsidiary of The Bank of New York Mellon Corporation, a financial holding company.
4. CAPITAL SHARE TRANSACTIONS
Shares are created and redeemed on a continuous basis at NAV only in groups of 50,000 shares called Creation Units. Except when aggregated in Creation Units, shares are not redeemable. Transactions in shares of the Funds are disclosed in detail on the Statements of Changes in Net Assets. Only Authorized Participants may purchase or redeem shares directly from the Funds. An Authorized Participant is either (i) a broker-dealer or other participant in the clearing process through the Continuous Net Settlement System of National Securities Clearing Corporation or (ii) a Depository Trust Company (“DTC”) participant and, in each case, must have executed a Participant Agreement with the Distributor. Most retail investors will not qualify as Authorized Participants or have the resources to create and redeem whole Creation Units. Therefore, they will be unable to purchase or redeem the shares directly from the Funds. Rather, most retail investors will purchase shares in the secondary market with the assistance of a broker and will be subject to customary brokerage commissions or fees. Securities received or delivered in connection with in-kind creates and redeems are valued as of the close of business on the effective date of the creation or redemption.
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
5. FEDERAL INCOME TAX
At October 31, 2021, the cost and unrealized appreciation/depreciation of investments, including applicable derivative contracts and other financial instruments, as determined on a federal income tax basis, were as follows:
| Fund | | | Cost | | | Gross
Unrealized
Appreciation | | | Gross
Unrealized
Depreciation | | | Net Unrealized
Appreciation/
(Depreciation) | |
| IQ Hedge Multi-Strategy Tracker ETF | | | | $ | 887,105,288 | | | | | $ | 27,577,272 | | | | | $ | (8,935,784) | | | | | | 18,641,488 | | |
| IQ Hedge Macro Tracker ETF | | | | | 4,258,430 | | | | | | 268,769 | | | | | | (30,577) | | | | | | 238,192 | | |
| IQ Hedge Market Neutral Tracker ETF | | | | | 18,429,973 | | | | | | 123,409 | | | | | | (124,535) | | | | | | (1,126) | | |
| IQ Hedge Long/Short Tracker ETF | | | | | 20,784,499 | | | | | | 4,070,067 | | | | | | (3,806,358) | | | | | | 263,709 | | |
| IQ Hedge Event-Driven Tracker ETF | | | | | 20,386,489 | | | | | | 381,636 | | | | | | (80,767) | | | | | | 300,869 | | |
| IQ Real Return ETF | | | | | 65,519,348 | | | | | | 1,040,377 | | | | | | (614,412) | | | | | | 425,965 | | |
| IQ S&P High Yield Low Volatility Bond ETF | | | | | 37,434,392 | | | | | | 590,168 | | | | | | (400,703) | | | | | | 189,465 | | |
| IQ Merger Arbitrage ETF | | | | | 720,825,922 | | | | | | 21,261,902 | | | | | | (14,309,824) | | | | | | 6,952,078 | | |
| IQ Global Resources ETF | | | | | 27,623,738 | | | | | | 3,499,580 | | | | | | (713,878) | | | | | | 2,785,702 | | |
| IQ U.S. Real Estate Small Cap ETF | | | | | 48,321,793 | | | | | | 8,177,203 | | | | | | (6,943,963) | | | | | | 1,233,240 | | |
| IQ 50 Percent Hedged FTSE International ETF | | | | | 293,713,458 | | | | | | 64,816,894 | | | | | | (29,099,679) | | | | | | 35,717,215 | | |
| IQ Chaikin U.S. Large Cap ETF | | | | | 272,962,257 | | | | | | 62,299,660 | | | | | | (5,501,998) | | | | | | 56,797,662 | | |
| IQ Chaikin U.S. Small Cap ETF | | | | | 203,470,923 | | | | | | 35,561,005 | | | | | | (11,467,332) | | | | | | 24,093,673 | | |
| IQ 500 International ETF | | | | | 231,302,184 | | | | | | 32,800,777 | | | | | | (13,871,541) | | | | | | 18,929,236 | | |
| IQ Candriam ESG U.S. Equity ETF | | | | | 374,609,419 | | | | | | 111,038,298 | | | | | | (4,563,532) | | | | | | 106,474,766 | | |
| IQ Candriam ESG International Equity ETF | | | | | 182,226,791 | | | | | | 37,148,327 | | | | | | (4,253,304) | | | | | | 32,895,023 | | |
| IQ Healthy Hearts ETF | | | | | 6,606,640 | | | | | | 711,994 | | | | | | (166,416) | | | | | | 545,578 | | |
| IQ Engender Equality ETF | | | | | 5,005,218 | | | | | | 112,210 | | | | | | (88,319) | | | | | | 23,891 | | |
| IQ Cleaner Transport ETF | | | | | 5,001,043 | | | | | | 222,315 | | | | | | (60,266) | | | | | | 162,049 | | |
| IQ Clean Oceans ETF | | | | | 5,019,835 | | | | | | 143,488 | | | | | | (58,376) | | | | | | 85,112 | | |
The differences between book and tax basis cost of investments and net unrealized appreciation (depreciation) are primarily attributable to wash sale loss deferrals, pass through investments, amortization of market premium and the realization for tax purposes of unrealized gains on investments in passive foreign investment companies held at October 31, 2021.
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
At April 30, 2021, the components of undistributed or accumulated earnings/losses on a tax-basis were as follows:
| Fund | | | Ordinary
Income
(Loss)(1) | | | Net Capital
Gain
(Losses)(2) | | | Net Unrealized
Appreciation/
Depreciation | | | Total
Earnings/
(Losses) | |
| IQ Hedge Multi-Strategy Tracker ETF | | | | $ | (2,808,621) | | | | | $ | (47,715,818) | | | | | $ | 26,757,964 | | | | | $ | (23,766,475) | | |
| IQ Hedge Macro Tracker ETF | | | | | (7,955) | | | | | | (5,402,898) | | | | | | 349,433 | | | | | | (5,061,420) | | |
| IQ Hedge Market Neutral Tracker ETF | | | | | (10,894) | | | | | | (383,381) | | | | | | 243,834 | | | | | | (150,441) | | |
| IQ Hedge Long/Short Tracker ETF | | | | | (36,973) | | | | | | (591,399) | | | | | | 176,261 | | | | | | (452,111) | | |
| IQ Hedge Event-Driven Tracker ETF | | | | | 24,566 | | | | | | (205,302) | | | | | | 282,598 | | | | | | 101,862 | | |
| IQ Real Return ETF | | | | | 75,740 | | | | | | (2,082,331) | | | | | | 21,433 | | | | | | (1,985,158) | | |
| IQ S&P High Yield Low Volatility Bond ETF | | | | | 314,424 | | | | | | (2,918,738) | | | | | | 1,871,024 | | | | | | (733,290) | | |
| IQ Merger Arbitrage ETF | | | | | (122,189,319) | | | | | | (29,042,188) | | | | | | 39,593,106 | | | | | | (111,638,401) | | |
| IQ Global Resources ETF | | | | | (982,462) | | | | | | (62,111,008) | | | | | | 2,882,702 | | | | | | (60,210,768) | | |
| IQ U.S. Real Estate Small Cap ETF | | | | | — | | | | | | (8,958,675) | | | | | | 2,478,333 | | | | | | (6,480,342) | | |
| IQ 50 Percent Hedged FTSE International ETF | | | | | 2,673,997 | | | | | | (17,653,217) | | | | | | 29,701,572 | | | | | | 14,722,352 | | |
| IQ Chaikin U.S. Large Cap ETF | | | | | — | | | | | | (67,630,443) | | | | | | 35,774,510 | | | | | | (31,855,933) | | |
| IQ Chaikin U.S. Small Cap ETF | | | | | — | | | | | | (77,022,031) | | | | | | 21,114,263 | | | | | | (55,907,768) | | |
| IQ 500 International ETF | | | | | 3,235,648 | | | | | | (4,392,918) | | | | | | 25,722,157 | | | | | | 24,564,887 | | |
| IQ Candriam ESG U.S. Equity ETF | | | | | 387,406 | | | | | | (958,532) | | | | | | 66,183,777 | | | | | | 65,612,651 | | |
| IQ Candriam ESG International Equity ETF | | | | | 1,382,651 | | | | | | — | | | | | | 28,667,333 | | | | | | 30,049,984 | | |
| IQ Healthy Hearts ETF | | | | | 12,479 | | | | | | (32,429) | | | | | | 280,494 | | | | | | 260,544 | | |
| IQ Engender Equality ETF | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
| IQ Cleaner Transport ETF | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
| IQ Clean Oceans ETF | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
1 Includes late year ordinary loss, if any.
2 Amount includes the deferral of post October losses, if any.
The differences between book and tax basis components of net assets are primarily attributable to wash sale loss deferrals and other book and tax differences including foreign currency contracts, swap contracts, post-October and late year losses.
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
At April 30, 2021, the effect of permanent book/tax reclassifications resulted in increases (decreases) to the components of net assets were as follows:
| Fund | | | Total distributable earnings/
(accumulated loss) | | | Paid-in Capital | |
| IQ Hedge Multi-Strategy Tracker ETF | | | | $ | (31,113,750) | | | | | $ | 31,113,750 | | |
| IQ Hedge Macro Tracker ETF | | | | | (170) | | | | | | 170 | | |
| IQ Hedge Market Neutral Tracker ETF | | | | | (1,018,183) | | | | | | 1,018,183 | | |
| IQ Hedge Long/Short Tracker ETF | | | | | (2,103,043) | | | | | | 2,103,043 | | |
| IQ Hedge Event-Driven Tracker ETF | | | | | (592,559) | | | | | | 592,559 | | |
| IQ Real Return ETF | | | | | (20,572) | | | | | | 20,572 | | |
| IQ S&P High Yield Low Volatility Bond ETF | | | | | (240,107) | | | | | | 240,107 | | |
| IQ Merger Arbitrage ETF | | | | | (98,547,286) | | | | | | 98,547,286 | | |
| IQ Global Resources ETF | | | | | (1,250,685) | | | | | | 1,250,685 | | |
| IQ U.S. Real Estate Small Cap ETF | | | | | 967,151 | | | | | | (967,151) | | |
| IQ 50 Percent Hedged FTSE International ETF | | | | | (3,675,930) | | | | | | 3,675,930 | | |
| IQ Chaikin U.S. Large Cap ETF | | | | | (70,635,005) | | | | | | 70,635,005 | | |
| IQ Chaikin U.S. Small Cap ETF | | | | | (64,515,624) | | | | | | 64,515,624 | | |
| IQ 500 International ETF | | | | | (12,403,797) | | | | | | 12,403,797 | | |
| IQ Candriam ESG U.S. Equity ETF | | | | | (11,131,913) | | | | | | 11,131,913 | | |
| IQ Candriam ESG International Equity ETF | | | | | (8,688,194) | | | | | | 8,688,194 | | |
| IQ Healthy Hearts ETF | | | | | (65,667) | | | | | | 65,667 | | |
| IQ Engender Equality ETF | | | | | N/A | | | | | | N/A | | |
| IQ Cleaner Transport ETF | | | | | N/A | | | | | | N/A | | |
| IQ Clean Oceans ETF | | | | | N/A | | | | | | N/A | | |
For financial reporting purposes, capital accounts are adjusted to reflect the tax character of permanent book/ tax differences. Reclassifications are primarily due to the tax treatment of redemptions in-kind, the expiration of capital loss carryforwards, nondeductible expenses and capital share redemptions utilized as distributions for tax purposes.
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
The tax character of distributions paid during the years ended April 30, 2021 and 2020 were as follows:
| | | | 2021 | | | 2020 | |
| 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 | | | | $ | 15,953,112 | | | | | $ | — | | | | | $ | — | | | | | $ | 16,163,950 | | | | | $ | — | | | | | $ | — | | |
| IQ Hedge Macro Tracker ETF | | | | | 106,851 | | | | | | — | | | | | | — | | | | | | 54,164 | | | | | | — | | | | | | — | | |
IQ Hedge Market Neutral Tracker
ETF | | | | | 341,520 | | | | | | — | | | | | | — | | | | | | 239,729 | | | | | | — | | | | | | — | | |
IQ Hedge Long/Short Tracker
ETF | | | | | 181,041 | | | | | | — | | | | | | — | | | | | | 123,690 | | | | | | — | | | | | | — | | |
| IQ Hedge Event-Driven Tracker ETF | | | | | 209,892 | | | | | | — | | | | | | — | | | | | | 157,392 | | | | | | — | | | | | | — | | |
| IQ Real Return ETF | | | | | 511,575 | | | | | | — | | | | | | — | | | | | | 1,185,760 | | | | | | — | | | | | | — | | |
| IQ S&P High Yield Low Volatility Bond ETF | | | | | 3,749,100 | | | | | | — | | | | | | — | | | | | | 2,787,812 | | | | | | — | | | | | | — | | |
| IQ Merger Arbitrage ETF | | | | | 16,966,679 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Global Resources ETF | | | | | 2,041,648 | | | | | | — | | | | | | — | | | | | | 2,539,080 | | | | | | — | | | | | | — | | |
IQ U.S. Real Estate Small Cap
ETF | | | | | 662,106 | | | | | | — | | | | | | 1,029,743 | | | | | | 1,633,256 | | | | | | — | | | | | | 1,775,536 | | |
| IQ 50 Percent Hedged FTSE International ETF | | | | | 6,183,285 | | | | | | — | | | | | | — | | | | | | 7,874,573 | | | | | | — | | | | | | — | | |
| IQ Chaikin U.S. Large Cap ETF | | | | | 4,106,799 | | | | | | — | | | | | | — | | | | | | 6,034,101 | | | | | | — | | | | | | — | | |
| IQ Chaikin U.S. Small Cap ETF | | | | | 1,965,356 | | | | | | — | | | | | | — | | | | | | 2,340,043 | | | | | | — | | | | | | — | | |
| IQ 500 International ETF | | | | | 5,907,221 | | | | | | — | | | | | | — | | | | | | 3,080,969 | | | | | | — | | | | | | — | | |
IQ Candriam ESG U.S. Equity
ETF | | | | | 2,588,974 | | | | | | — | | | | | | — | | | | | | 30,853 | | | | | | — | | | | | | — | | |
| IQ Candriam ESG International Equity ETF | | | | | 2,032,608 | | | | | | — | | | | | | — | | | | | | 50,904 | | | | | | — | | | | | | — | | |
| IQ Healthy Hearts ETF | | | | | 21,568 | | | | | | — | | | | | | — | | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
| IQ Engender Equality ETF | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
| IQ Cleaner Transport ETF | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
| IQ Clean Oceans ETF | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
Capital losses incurred after October 31 (“Post-October Losses”) and certain late year ordinary income losses within the taxable year can be deemed to arise on the first business day of the Funds’ next taxable year. For
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
the year ended April 30, 2021, the Funds incurred and elected to defer to May 1, 2021 Post-October Losses and late year ordinary losses of:
| Fund | | | Late Year
Ordinary Losses | | | Short-Term
Post October Losses | | | Long-Term
Post October Losses | |
| IQ Hedge Multi-Strategy Tracker ETF | | | | $ | 2,808,621 | | | | | $ | — | | | | | $ | — | | |
| IQ Hedge Macro Tracker ETF | | | | | 7,955 | | | | | | — | | | | | | — | | |
| IQ Hedge Market Neutral Tracker ETF | | | | | 10,894 | | | | | | — | | | | | | — | | |
| IQ Hedge Long/Short Tracker ETF | | | | | 36,973 | | | | | | — | | | | | | — | | |
| IQ Hedge Event-Driven Tracker ETF | | | | | — | | | | | | — | | | | | | — | | |
| IQ Real Return ETF | | | | | — | | | | | | — | | | | | | — | | |
| IQ S&P High Yield Low Volatility Bond ETF | | | | | — | | | | | | — | | | | | | — | | |
| IQ Merger Arbitrage ETF | | | | | 122,189,319 | | | | | | — | | | | | | — | | |
| IQ Global Resources ETF | | | | | 982,462 | | | | | | — | | | | | | — | | |
| IQ U.S. Real Estate Small Cap ETF | | | | | — | | | | | | — | | | | | | — | | |
| IQ 50 Percent Hedged FTSE International ETF | | | | | — | | | | | | — | | | | | | — | | |
| IQ Chaikin U.S. Large Cap ETF | | | | | — | | | | | | — | | | | | | — | | |
| IQ Chaikin U.S. Small Cap ETF | | | | | — | | | | | | — | | | | | | — | | |
| IQ 500 International ETF | | | | | — | | | | | | — | | | | | | — | | |
| IQ Candriam ESG U.S. Equity ETF | | | | | — | | | | | | — | | | | | | — | | |
| IQ Candriam ESG International Equity ETF | | | | | — | | | | | | — | | | | | | — | | |
| IQ Healthy Hearts ETF | | | | | — | | | | | | — | | | | | | — | | |
| IQ Engender Equality ETF | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
| IQ Cleaner Transport ETF | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
| IQ Clean Oceans ETF | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
At April 30, 2021, the Funds listed below had net capital loss carryforwards for Federal income tax purposes which are available for offset against future taxable net capital gains. The amounts were determined after adjustments for certain differences between financial reporting and tax purposes, such as wash sale losses. Accordingly, no capital gain distributions are expected to be paid to shareholders of these Funds until future net capital gains have been realized in excess of the available capital loss carryforwards.
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
There is no assurance that any Fund will be able to utilize all of its capital loss carryforwards before they expire. These loss carryforwards expire in amounts and fiscal years as follows:
| Fund | | | Expired
Current Year | | | Utilized on
Current Year | | | Short-Term
With No Expiration | | | Long-Term
With No Expiration | |
| IQ Hedge Multi-Strategy Tracker ETF | | | | $ | — | | | | | $ | 24,932,203 | | | | | $ | 42,463,293 | | | | | $ | 5,252,525 | | |
| IQ Hedge Macro Tracker ETF | | | | | — | | | | | | 198,655 | | | | | | 4,216,880 | | | | | | 1,186,018 | | |
| IQ Hedge Market Neutral Tracker ETF | | | | | — | | | | | | 96,444 | | | | | | 335,400 | | | | | | 47,981 | | |
| IQ Hedge Long/Short Tracker ETF | | | | | — | | | | | | 122,384 | | | | | | 317,991 | | | | | | 273,408 | | |
| IQ Hedge Event-Driven Tracker ETF | | | | | — | | | | | | — | | | | | | 112,364 | | | | | | 92,938 | | |
| IQ Real Return ETF | | | | | — | | | | | | 148,042 | | | | | | 884,751 | | | | | | 1,197,580 | | |
| IQ S&P High Yield Low Volatility Bond ETF | | | | | — | | | | | | 948,830 | | | | | | 2,371,167 | | | | | | 547,571 | | |
| IQ Merger Arbitrage ETF | | | | | — | | | | | | — | | | | | | 27,744,453 | | | | | | 1,297,735 | | |
| IQ Global Resources ETF | | | | | — | | | | | | — | | | | | | 32,470,786 | | | | | | 29,640,222 | | |
| IQ U.S. Real Estate Small Cap ETF | | | | | — | | | | | | — | | | | | | 637,347 | | | | | | 8,321,328 | | |
| IQ 50 Percent Hedged FTSE International ETF | | | | | — | | | | | | — | | | | | | 3,782,962 | | | | | | 13,870,255 | | |
| IQ Chaikin U.S. Large Cap ETF | | | | | — | | | | | | 7,769,428 | | | | | | 29,628,892 | | | | | | 38,001,551 | | |
| IQ Chaikin U.S. Small Cap ETF | | | | | — | | | | | | 3,413,364 | | | | | | 33,073,222 | | | | | | 43,948,809 | | |
| IQ 500 International ETF | | | | | — | | | | | | — | | | | | | 3,429,754 | | | | | | 963,164 | | |
| IQ Candriam ESG U.S. Equity ETF | | | | | — | | | | | | — | | | | | | 898,091 | | | | | | 60,441 | | |
| IQ Candriam ESG International Equity ETF | | | | | — | | | | | | 29,003 | | | | | | — | | | | | | — | | |
| IQ Healthy Hearts ETF | | | | | — | | | | | | — | | | | | | 32,429 | | | | | | — | | |
| IQ Engender Equality ETF | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
| IQ Cleaner Transport ETF | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
| IQ Clean Oceans ETF | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
* Subject to annual limitation on utilization.
6. OTHER AFFILIATED PARTIES AND TRANSACTIONS
For the purposes of the financial statements, the Funds assume the following to be affiliated issuers. As of October 31, 2021, affiliated transactions, if any, are listed at the end of the Fund’s respective Schedule of Investments.
The Advisor is an affiliate and subsidiary of New York Life Investment Management LLC (“NYLIM”) and of New York Life Insurance & Annuity Corporation (“NYLIC”). As of October 31, 2021, NYLIM and NYLIC were not known to own beneficially greater than 5% of the shares of any Fund except as set forth below. NYLIM and NYLIC own shares of the Funds on their own behalf or on behalf of Funds or accounts managed by NYLIM or NYLIC.
New York Life Insurance & Annuity Corporation
| Fund | | | % Ownership | |
| IQ Healthy Hearts ETF | | | | | 79.6% | | |
| IQ Engender Equality ETF | | | | | 100.0% | | |
| IQ Cleaner Trasport ETF | | | | | 95.0% | | |
| IQ Clean Oceans ETF | | | | | 95.0% | | |
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
New York Life Investment Management LLC
| | | | % Ownership | |
| IQ 50 Percent Hedged FTSE International ETF | | | | | 48.9% | | |
| IQ Chaikin U.S. Large Cap ETF | | | | | 98.0% | | |
| IQ Chaikin U.S. Small Cap ETF | | | | | 81.9% | | |
| IQ 500 International ETF | | | | | 99.1% | | |
| IQ Candriam ESG U.S. Equity ETF | | | | | 97.4% | | |
| IQ Candriam ESG International Equity ETF | | | | | 95.2% | | |
7. INVESTMENT TRANSACTIONS
Purchases and sales of investments (excluding short-term investments) for the year ended October 31, 2021 are as follows:
| Fund | | | Purchases | | | Sales | | | Purchases In-Kind | | | Sales In-Kind | |
| IQ Hedge Multi-Strategy Tracker ETF | | | | $ | 345,179,213 | | | | | $ | 343,263,797 | | | | | $ | 60,733,610 | | | | | $ | 38,436,599 | | |
| IQ Hedge Macro Tracker ETF | | | | | 1,453,134 | | | | | | 1,449,836 | | | | | | — | | | | | | — | | |
| IQ Hedge Market Neutral Tracker ETF | | | | | 7,347,939 | | | | | | 7,331,857 | | | | | | — | | | | | | — | | |
| IQ Hedge Long/Short Tracker ETF | | | | | 2,396,741 | | | | | | 2,301,823 | | | | | | 60,641,813 | | | | | | 52,739,842 | | |
| IQ Hedge Event-Driven Tracker ETF | | | | | 1,961,204 | | | | | | 2,458,829 | | | | | | 10,665,626 | | | | | | 594,782 | | |
| IQ Real Return ETF | | | | | 16,595,433 | | | | | | 16,426,427 | | | | | | 1,377,523 | | | | | | — | | |
| IQ S&P High Yield Low Volatility Bond ETF | | | | | 25,243,308 | | | | | | 26,503,389 | | | | | | — | | | | | | 66,103,300 | | |
| IQ Merger Arbitrage ETF | | | | | 987,921,253 | | | | | | 914,509,813 | | | | | | 180,380,112 | | | | | | 203,522,695 | | |
| IQ Global Resources ETF | | | | | 16,276,168 | | | | | | 15,010,938 | | | | | | 8,461,898 | | | | | | — | | |
| IQ U.S. Real Estate Small Cap ETF | | | | | 8,712,795 | | | | | | 8,633,632 | | | | | | 6,449,505 | | | | | | 11,730,614 | | |
| IQ 50 Percent Hedged FTSE International ETF | | | | | 1,774,830 | | | | | | 18,309,665 | | | | | | 3,417,643 | | | | | | — | | |
| IQ Chaikin U.S. Large Cap ETF | | | | | 917,212 | | | | | | 428,086 | | | | | | 7,025,222 | | | | | | 8,529,195 | | |
| IQ Chaikin U.S. Small Cap ETF | | | | | 7,040,408 | | | | | | 7,085,168 | | | | | | 22,673,313 | | | | | | 12,614,146 | | |
| IQ 500 International ETF | | | | | 41,371,255 | | | | | | 41,044,613 | | | | | | 32,916,199 | | | | | | 35,911,650 | | |
| IQ Candriam ESG U.S. Equity ETF | | | | | 11,270,786 | | | | | | 10,850,614 | | | | | | 64,693,192 | | | | | | 49,160,657 | | |
| IQ Candriam ESG International Equity ETF | | | | | 7,616,383 | | | | | | 7,080,525 | | | | | | 26,270,968 | | | | | | 7,291,931 | | |
| IQ Healthy Hearts ETF | | | | | 946,425 | | | | | | 883,684 | | | | | | 2,683,508 | | | | | | 2,724,371 | | |
| IQ Engender Equality ETF | | | | | — | | | | | | 15,600 | | | | | | 5,020,984 | | | | | | — | | |
| IQ Cleaner Transport ETF | | | | | 5,000,389 | | | | | | — | | | | | | — | | | | | | — | | |
| IQ Clean Oceans ETF | | | | | 5,029,650 | | | | | | 9,684 | | | | | | — | | | | | | — | | |
8. DERIVATIVE FINANCIAL INSTRUMENTS
Swap Transactions
A swap agreement is an agreement between two parties pursuant to which the parties exchange payments at specified dates based on a specified notional amount, with the payments calculated by reference to specified securities, indexes, reference rates, currencies or other instruments. Most swap agreements provide that when the period payment dates for both parties are the same, the payments are made on a net basis (i.e., the two payment streams are netted out, with only the net amount paid by one party to the other). The Funds’ obligations or rights under a swap agreement entered into on a net basis will generally be equal only to the net amount to be paid or received under the agreement, based on the relative values of the positions held by each counterparty. Swap agreements are not entered into or traded on exchanges and there is no central clearing or guaranty function for total return swaps. Swaps could result in losses if interest rates or foreign currency exchange rates or credit quality changes are not correctly anticipated by the Funds or if the reference index, security or investments do not perform as expected.
The value of a total return swap agreement is recorded as either an asset or a liability on the Statements of Assets and Liabilities at the beginning of the measurement period. Segregated securities are designated on the Schedules of Investments and cash deposited is recorded on the Statements of Assets and Liabilities. Daily
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
changes in valuation of Total Return Swaps, if any, are recorded as unrealized appreciation or depreciation on the Statements of Assets and Liabilities. The change in the value of swaps, including accruals of periodic amounts of interest to be paid or received on swaps, is reported as a change in net unrealized appreciation depreciation on the Statements of Operations. A realized gain or loss is recorded upon payment or receipt of a periodic payment or payment made upon termination of a swap agreement.
When a Fund has an unrealized loss on a swap agreement, the Fund instructs the Custodian to pledge cash or liquid securities as collateral with a value at least equal to the amount of the unrealized loss. Collateral pledges are monitored and subsequently adjusted with the fluctuations of the swap value.
Some of the Funds intend to use Total Return Swaps in several ways to replicate the performance of the Index. Risks may arise as a result of the failure of the counterparty to the swap contract to comply with the terms of the swap contract. Therefore, the Funds consider the creditworthiness of the counterparty to a swap contract in evaluating potential credit risk. Additionally, risks may arise from unanticipated movements in interest rates or in the value of the underlying instruments.
Pursuant to documentation governing the Funds’ swap transactions with MLI and Morgan Stanley, MLI and Morgan Stanley have the right to terminate the swaps early in the event that the net assets of the given Fund decline below specific levels set forth in the documentation (“net asset contingent features”). In the event of early termination, Bank of America and Morgan Stanley may require the Funds to pay or receive a settlement amount in connection with the terminated swap transaction. The Funds utilized swaps to affect both long and short exposure to several asset classes and market segments, including, among others, real estate, domestic equity, international equity, emerging markets equities, investment grade corporate bonds, high yield corporate bonds, convertible bonds, preferred securities, emerging market-debt, mortgage-backed securities, floating rate notes, developed markets currencies, broad commodity indices, precious metals, equity market volatility, and U.S. Treasury bonds. As of October 31, 2021, the Funds have not triggered the conditions under such documentation that will give the counterparty the right to call for an early termination. As of such date, the settlement values of these contracts were approximately equal to the fair value of such contracts. As of October 31, 2021, open swap transactions, if any, are listed at the end of the Funds’ respective Schedule of Investments.
Forward Foreign Currency Contracts
Certain Funds may enter into forward foreign currency transactions to seek a closer correlation between the Funds’ overall currency exposures and the currency exposures of the Underlying Index as a part of its principal investment strategy.
The Funds may enter into forward foreign currency contracts for hedging purposes, to seek to protect against anticipated changes in future foreign currency exchange rates. A forward foreign currency contract involves an obligation to purchase or sell a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the parties, at a price set at the time of the contract. A non-deliverable forward currency contract does not require physical delivery of the underlying currencies and the contract is settled based on the difference between the contracted price and the prevailing spot price of the agreed upon notional amount. These contracts are traded in the interbank market between currency traders (usually large commercial banks) and their customers. A forward foreign currency contract generally has no deposit requirement, and no commissions are generally charged at any stage for trades.
Upon entering into a forward foreign currency contract, a Fund is required to segregate permissible liquid assets or engage in other measures approved by the SEC to “cover” the Fund’s obligations relating to its transactions in derivatives. Fluctuations in the value of open forward foreign currency contracts are recorded for book purposes as unrealized gains or losses on forward foreign currency contracts by the Funds. Realized gains and losses on forward foreign currency contracts include net gains or losses recognized by the Funds on contracts which have matured or were sold. At October 31, 2021, open forward foreign currency contracts, if any, are listed at the end of the Funds’ respective Schedule of Investments.
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
Quantitative Disclosure of Derivative Holding
The following tables show additional disclosures related to each Fund’s derivative and holding activities, including how such activities are accounted for and their effect in each Fund’s financial positions, performance and cash flows.
The fair value of derivative instruments reflected on the Statements of Assets and Liabilities were as follows:
Asset Derivatives
| | | | Currency Risk | |
| IQ 50 Percent Hedged FTSE International ETF | | | | | | | |
| Unrealized appreciation on forward foreign currency contracts | | | | $ | 969,794 | | |
Liability Derivatives
| | | | Currency Risk | |
| IQ 50 Percent Hedged FTSE International ETF | | | | | | | |
| Unrealized depreciation on forward foreign currency contracts | | | | $ | 1,441,345 | | |
Total return swaps reflect a reset date as of October 31, 2021; therefore, there is no unrealized appreciation/depreciation reflected on the Statements of Assets and Liabilities.
Transactions in derivative instruments reflected on the Statements of Operations during the period ended October 31, 2021 were as follows:
| Fund | | | Currency Risk | | | Equity Risk | |
| IQ Hedge Multi-Strategy Tracker ETF | | | | | | | | | | | | | |
| Realized gain (loss) | | | | | | | | | | | | | |
| Swap transactions | | | | | | | | | | $ | (2,175,282) | | |
| IQ Hedge Macro Tracker ETF | | | | | | | | | | | | | |
| Realized gain (loss) | | | | | | | | | | | | | |
| Swap transactions | | | | | | | | | | $ | (15,074) | | |
| IQ Hedge Market Neutral Tracker ETF | | | | | | | | | | | | | |
| Realized gain (loss) | | | | | | | | | | | | | |
| Swap transactions | | | | | | | | | | $ | (92,502) | | |
| IQ Hedge Long/Short Tracker ETF | | | | | | | | | | | | | |
| Realized gain (loss) | | | | | | | | | | | | | |
| Swap transactions | | | | | | | | | | $ | (147,871) | | |
| IQ Hedge Event-Driven Tracker ETF | | | | | | | | | | | | | |
| Realized gain (loss) | | | | | | | | | | | | | |
| Swap transactions | | | | | | | | | | $ | (8,124) | | |
| IQ Merger Arbitrage ETF | | | | | | | | | | | | | |
| Realized gain (loss) | | | | | | | | | | | | | |
| Swap transactions | | | | | | | | | | $ | (18,397,310) | | |
| IQ Global Resources ETF | | | | | | | | | | | | | |
| Realized gain (loss) | | | | | | | | | | | | | |
| Swap transactions | | | | | | | | | | $ | (288,873) | | |
| IQ 50 Percent Hedged FTSE International ETF | | | | | | | | | | | | | |
| Realized gain (loss) | | | | | | | | | | | | | |
| Forward foreign currency contracts | | | | $ | 2,920,550 | | | | | | | | |
| Change in unrealized appreciation (depreciation) | | | | | | | | | | | | | |
| Forward foreign currency contracts | | | | $ | 2,077,868 | | | | | | | | |
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
For the period ended October 31, 2021, the monthly average notional value of the derivatives held by the Funds were as follows:
| | | | Average Notional Value | |
| FIHI | | | 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 Merger
Arbitrage
ETF | | | IQ Global
Resources
ETF | | | IQ 50
Percent
Hedged
FTSE
International
ETF | |
| Asset Derivatives | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Swap contracts | | | | $ | 45,936,893 | | | | | $ | 420,531 | | | | | $ | 1,774,588 | | | | | $ | 2,021,746 | | | | | $ | 297,611 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
| Forward foreign currency contracts | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 293,718,200 | | |
| Liability Derivatives | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Swap contracts | | | | $ | (46,293,682) | | | | | $ | (422,128) | | | | | $ | (1,780,706) | | | | | $ | (2,023,028) | | | | | $ | (296,409) | | | | | $ | (201,859,644) | | | | | $ | (3,157,522) | | | | | $ | — | | |
| Forward foreign currency contracts | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (293,307,964) | | |
9. RISKS INVOLVED WITH INVESTING IN THE FUNDS
The Funds are subject to the principal risks described below, some or all of these risks may adversely affect a Fund’s NAV, trading price, yield, total return and ability to meet its investment objective. As with any investment, an investment in a Fund could result in a loss or the performance of a Fund could be inferior to that of other investments.
Call Risk1
During periods of falling interest rates, an issuer of a callable bond held by a Fund may “call” or repay the security before its stated maturity, and the Fund may have to reinvest the proceeds at lower interest rates, resulting in a decline in the Fund’s income.
Counterparty Risk
Many of the protections afforded to participants on some organized exchanges, such as the performance guarantee of an exchange clearing house, are not available in connection with OTC derivatives transactions.
In those instances, an underlying ETP utilizing such deliverables will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the underlying ETP will sustain losses.
Credit Risk1
Debt issuers and other counterparties may not honor their obligations or may have their debt downgraded by ratings agencies. The financial condition of an issuer of a debt security or other instrument may cause such issuer to default on its obligations or cause such issuer to be perceived (whether by market participants, rating agencies, pricing services or otherwise) as being in default.
Currency Hedging Risk2
Certain Funds use various strategies to attempt to reduce the impact of changes in the value of a foreign currency against the U.S. dollar. These strategies may not be successful. Currency exchange rates can be very volatile and can change quickly and unpredictably. Therefore, the value of an investment in a fund may also go up or down quickly and unpredictably and investors may lose money.
Currency Risk
Certain Funds will invest in securities denominated in currencies other than U.S. dollars (foreign currencies). Therefore, while much of the income received by a Fund may be denominated in foreign currency, the Underlying Index and the Fund’s NAV will be calculated in U.S. dollars. Furthermore a Fund may convert cash
1
Applies to IQ S&P High Yield Low Volatility Bond ETF
2
Applies to IQ 50 Percent Hedged FTSE International ETF
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
in U.S. dollars to foreign currencies to purchase securities. Both a Fund’s ability to track the Underlying Index, and Fund returns in general, may be adversely impacted by changes in currency exchange rates, which can occur quickly and without warning.
Debt Investments Risk
The ability of issuers of debt securities held by the Funds to meet their obligations may be affected by, among other things, economic or political developments in a specific country, industry or region. Debt securities are also subject to the risks associated with changes in interest rates. Debt investments are subject to many risks, including, but not limited to, interest rate risk, credit risk, market risk, regulatory risk, price volatility and liquidity risk. There is a risk that an issuer or guarantor of a debt investment might be unable or unwilling to meet its financial obligations and might not make interest or principal payments on an instrument when those payments are due (“default”). Defaults may potentially reduce a Fund’s income or ability to recover amounts due, and may reduce the value of the debt investment, sometimes dramatically. Certain debt investments may be difficult to value, purchase, or sell, particularly during adverse market conditions, because there is a limited market for the investment or there are restrictions on resale.
Debt investments most frequently trade in institutional round lot size transactions. Until a Fund grows significantly in size, a fund may purchase a significant number of bonds in amounts less than the institutional round lot size, which are frequently referred to as “odd” lots. Odd lot size positions may have more price volatility than institutional round lot size positions. The Funds use a third-party pricing service to value bond holdings and the pricing service values bonds assuming orderly transactions of an institutional round lot size.
Derivatives Risk
Derivative strategies may expose a Fund to greater risk than if it had invested directly in the underlying instrument and often involve leverage, which may exaggerate a loss, potentially causing a Fund to lose more money than it originally invested and would have lost had it invested directly in the underlying instrument. Derivatives may be difficult to sell, unwind or value. Derivatives may also be subject to counterparty risk, which is the risk that the counterparty (the party on the other side of the transaction) on a derivative transaction will be unable to honor its contractual obligations to the Fund. Derivatives may be more volatile than direct investments in the instrument underlying the contract and may not correlate perfectly to the underlying instrument. Derivatives also may involve a small initial investment relative to the risk assumed, which could result in losses greater than if they had not been used. Due to fluctuations in the price of the underlying asset, a Fund may not be able to profitably exercise an option and may lose its entire investment in an option. Derivatives may also increase the expenses of a Fund.
Equity Securities Risk
The prices of equity securities are responsive to many factors, including the historical and prospective earnings of the issuer, the value of its assets, general economic, stock market, industry and company conditions and the risk inherent in the portfolio manager’s ability to anticipate such changes that can adversely affect the value of a Fund’s holdings. Opportunity for greater gain may come with greater risk of loss.
ESG Investing Style Risk3
The application of environmental, social and corporate governance investing criteria may affect the Fund’s exposure to certain sectors or types of investments and may impact the Fund’s relative investment performance depending on whether such sectors or investments are in or out of favor in the market. In addition, there is no guarantee that the construction methodology of the Underlying Index will accurately provide exposure to issuers meeting environmental, social and corporate governance criteria.
3
Applies to IQ Candriam ESG U.S. Equity ETF, IQ Candriam ESG International Equity ETF, IQ Healthy Hearts ETF, IQ Engender Equality ETF, IQ Cleaner Transport ETF and IQ Clean Ocean ETF.
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
Exchange Traded Vehicle Risk4
Unlike an investment in a mutual fund, the value of the Funds’ investments in ETFs, ETVs and ETNs is based on stock market prices and the Funds could lose money due to stock market developments, the failure of an active trading market to develop, or exchange trading halts or de-listings. Federal law prohibits the Funds from acquiring investment company shares, including shares of ETFs, in excess of specific thresholds unless exempted by rule, regulation or exemptive order. These prohibitions may prevent the Funds from allocating their investments to ETFs in an optimal manner.
Fund of Funds Risk4
Certain Funds’ investment performance, because they are fund of funds, depend on the investment performance of the underlying ETFs in which they invest. An investment in any such Fund is subject to the risks associated with the underlying ETFs that comprise its Underlying Index. Such a Fund will indirectly pay a proportional share of the asset-based fees of the underlying ETFs in which it invests.
Foreign Securities Risk
Certain Funds invest directly or indirectly (through underlying ETFs) in the securities of non-U.S. issuers, which involves risks beyond those associated with investments in U.S. securities. These additional risks include greater market volatility, the availability of less reliable financial information, higher transactional and custody costs, taxation by foreign governments, decreased market liquidity and political instability. The ability of issuers of securities held by the Fund to meet their obligations may be affected by, among other things, economic or political developments in a specific country, industry or region.
High Yield Securities Risk1
High yield securities generally offer a higher current yield than the yield available from higher grade issues, but typically involve greater risk. Securities rated below investment grade are commonly referred to as “junk bonds.”
Income Risk1
The income of a Fund receives from investments in debt securities may decline when interest rates fall. This decline can occur because a Fund may subsequently invest in lower-yielding bonds when bonds in its portfolio mature or the Fund needs to purchase additional bonds.
Index Risk
The Funds’ Underlying Indexes and the Funds rebalance only on a monthly, quarterly or annual basis, which may cause the performance of the Underlying Indexes and the Funds to deviate from that of the market exposure that they are trying to achieve.
Industry Concentration Risk
To the extent that a Fund’s Underlying Index is concentrated in a particular industry, the Fund also will be concentrated in that industry. The risk of concentrating fund investments in a limited number of issuers conducting business in the same industry or group of industries will subject a Fund to a greater risk of loss as a result of adverse economic, business or other developments than if its investments were diversified across different industry sectors.
Interest Rate Risk1
An increase in interest rates may cause the value of debt securities held by a Fund to decline. Interest rates in the United States are near historic lows, which may increase a Fund’s exposure to risks associated with rising interest rates. Interest rates may rise significantly and/or rapidly. Rising interest rates or lack of market
4
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, and IQ Real Return ETF.
1
Applies to IQ S&P High Yield Low Volatility Bond ETF
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
participants may lead to decreased liquidity and increased volatility in the bond markets, making it more difficult for a Fund to sell its bond holdings at a time when the Fund might wish to sell.
Large Transaction Risks
From time to time, a Fund may receive large purchase or redemption orders from affiliated or unaffiliated funds or other investors. Such large transactions could have adverse effects on a Fund’s performance if the Fund were required to sell securities or invest cash at times when it otherwise would not do so. This activity could also accelerate the realization of capital gains and increase a Fund’s transaction costs.
LIBOR Replacement Risk
A Fund may invest in certain debt securities, derivatives or other financial instruments that utilize the LIBOR, as a “benchmark” or “reference rate” for various interest rate calculations. The United Kingdom Financial Conduct Authority, which regulates LIBOR, announced that after 2021 it will cease its active encouragement of banks to provide the quotations needed to sustain LIBOR. As a result, it is anticipated that LIBOR will be discontinued or will no longer be sufficiently robust to be representative of its underlying market around that time. Although financial regulators and industry working groups have suggested alternative reference rates, such as the European Interbank Offer Rate (“EURIBOR”), Sterling Overnight Interbank Average Rate (“SONIA”) and Secured Overnight Financing Rate (“SOFR”), there are challenges to converting certain contracts and transactions to a new benchmark and neither the full effects of the transition process nor its ultimate outcome is known. The Advisor is currently working to assess exposure and will modify contracts as necessary.
The elimination of LIBOR or changes to other reference rates or any other changes or reforms to the determination or supervision of reference rates could have an adverse impact on the market for, or value of, any securities or payments linked to those reference rates, which may adversely affect a Fund’s performance and/or net asset value.
Uncertainty and risk also remain regarding the willingness and ability of issuers and lenders to include revised provisions in new and existing contracts or instruments. Consequently, the transition away from LIBOR to other reference rates may lead to increased volatility and illiquidity in markets that are tied to LIBOR, fluctuations in values of LIBOR-related investments or investments in issuers that utilize LIBOR, increased difficulty in borrowing or refinancing and diminished effectiveness of hedging strategies, adversely affecting the Fund’s performance.
Furthermore, the risks associated with the expected discontinuation of LIBOR and transition may be exacerbated if the work necessary to effect an orderly transition to an alternative reference rate is not completed in a timely manner.
Because the usefulness of LIBOR as a benchmark could deteriorate during the transition period, these effects could occur prior to the end of 2021 with respect to certain LIBOR tenors or mid-2023 for the remaining LIBOR tenors.
Long/Short Risk
There is no guarantee that the returns on a Fund’s long or short positions, if any, will produce positive returns, and the Fund could lose money if either or both positions produce negative returns. In addition, a Fund may gain enhanced long exposure to certain securities (i.e., obtain investment exposure that exceeds the amount directly invested in those assets, a form of leverage) and, as a result, suffer losses that exceed the amount invested in those assets.
Market Risk
The market price of investments owned by a Fund may go up or down, sometimes rapidly or unpredictably. Investments may decline in value due to factors affecting fixed-income securities markets generally or particular segments of the market.
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
New Fund Risk5
Certain Funds are new funds. There can be no assurance that they will grow to or maintain an economically viable size, in which case they may experience greater tracking error to their Underlying Indexes or ultimately liquidate.
Passive Management Risk
Unlike many investment companies, each Fund seeks to track its Underlying Index and is not “actively” managed. Therefore, a fund would not generally sell a security because the security’s issuer was in financial trouble unless that security is removed from (or was no longer useful in tracking a component of) its Underlying Index.
Small Capitalization Companies Risk6
Certain Funds invest primarily in the stocks of small capitalization companies, which may be more volatile than those of larger companies. Stock prices of small capitalization companies are also more vulnerable than those of large capitalization companies to adverse business and economic developments. Additionally, the stocks of small capitalization companies may be thinly traded, making it difficult to buy and sell them.
Total Return Swap Risk7
Total return swaps give a Fund the right to receive the appreciation in the value of a specified security, index or other instrument in return for a fee paid to the counterparty, which will typically be an agreed upon interest rate. Total return swaps can also be used to replicate an exposure to a short position in an asset class where a Fund has the right to receive the depreciation in value of a specified security, index or other instrument (“inverse swaps”). If the underlying asset in a total return swap declines in value (or increases in value, if an inverse swap) over the term of the swap, a Fund may also be required to pay the dollar value of that decline (or, if an inverse swap, increase, if an inverse swap) to the counterparty. Therefore, swaps are subject to credit risk or the risk of default or non-performance by the counterparty.
Tracking Error Risk
Each Fund’s performance may not match its Underlying Index during any period of time. Although each Fund attempts to track the performance of its Underlying Index, a Fund may not be able to duplicate its exact composition or return for a number of reasons, including that the strategies used by the Advisor to match the performance of the Underlying Indexes were unsuccessful and because a Fund incurs expenses, which an Underlying Index does not incur.
Trading Price Risk
Although it is expected that generally the market price of a Fund’s Shares will approximate the Fund’s NAV, there may be times when market price in the Secondary Market and the NAV vary significantly. During periods of market stress, shares of a Fund may also experience significantly wider “bid/ask” spreads, premiums and discounts between a Fund’s NAV and market price.
10. NEW ACCOUNTING PRONOUNCEMENTS
In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2020-04 (“ASU 2020-04”), “Reference Rate Reform (Topic 848) — Facilitation of the Effects of Reference Rate Reform on Financial Reporting” in response to concerns about structural risks of interbank offered rates, such as LIBOR. ASU 2020-04 provides optional guidance to ease the potential accounting burden associated with transitioning away from LIBOR and other reference rates that are expected to be discontinued. ASU 2020-04 is effective immediately upon release of the update on March 12, 2020, through December 31, 2022. At this
5
Applies to IQ Healthy Hearts ETF, IQ Engender Equality ETF, IQ Cleaner Transport ETF, and IQ Clean Oceans ETF.
6
Applies to IQ U.S. Real Estate Small Cap ETF, IQ Chaikin U.S. Small Cap ETF, IQ Candriam ESG U.S. Equity ETF, IQ Candriam ESG International Equity ETF, IQ Engender Equality ETF, IQ Cleaner Transport ETF and IQ Clean Ocean ETF.
7
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 Merger Arbitrage ETF and IQ Global Resources ETF.
Notes to Financial Statements (continued)
October 31, 2021 (unaudited)
time, the Advisor is evaluating the implications of certain other provisions of ASU 2020-04 related to new disclosure requirements and any impact on the financial statement disclosures has not yet been determined.
11. SUBSEQUENT EVENTS
In the preparation of the financial statements, the Advisor has evaluated events and transactions for potential recognition or disclosure through the date the financial statements were issued and has determined that there are no material subsequent events that would require disclosure.
Board Review of Investment Advisory Agreements (unaudited)
Approvals Relating to the IQ Engender Equality ETF, IQ Cleaner Transport ETF, and IQ Clean Oceans ETF
The Board (the members of which are referred to as “Trustees”) met by videoconference on September 23, 2021, pursuant to an order issued by the U.S. Securities and Exchange Commission’s Division of Investment Management temporarily exempting fund boards from the in-person approval requirements of certain provisions of the Investment Company Act of 1940, as amended (“1940 Act”), in light of the impact of COVID-19. The Board met to consider the approval of an amendment to the Investment Advisory Agreement (the “Advisory Agreement Amendment”), with respect to the IQ Engender Equality ETF, IQ Cleaner Transport ETF, and IQ Clean Oceans ETF, each a new series of the Trust (each, a “New Fund” and together, the “New Funds”). The Board noted that the Advisory Agreement Amendment was between the Trust and IndexIQ Advisors LLC (“IndexIQ” or the “Advisor”).
In accordance with Section 15(c) of the 1940 Act, the Board requested, reviewed and considered materials furnished by the Advisor relevant to the Board’s consideration of whether to approve the Advisory Agreement Amendment. In connection with considering approval of the Advisory Agreement Amendment, the Trustees who are not “interested persons” of the Trust, as that term is defined in the 1940 Act (the “Independent Trustees”), met in executive session with counsel to the Trust and counsel to the Independent Trustees, who provided assistance and advice. The consideration of the Advisory Agreement Amendment was conducted by both the full Board and the Independent Trustees, who also voted separately.
During their review and consideration, the Board and the Independent Trustees focused on and analyzed the factors they deemed relevant, including: (1) the nature, quality, and extent of the services that the Advisor will provide to the New Funds, and the fees that the Advisor will charge to the New Funds; (2) information concerning the business and operations, compliance program and portfolio management team of the Advisor; (3) information describing each New Fund’s anticipated operating expenses; (4) data comparing the proposed fee rate for advisory services to be charged to each New Fund and the expected expense ratios to fees paid by and expense ratios of exchange-traded funds (“ETFs”) with similar investment objectives and policies as those of such New Fund; (5) the extent to which economies of scale would be realized as the New Funds grow; (6) any “fall-out” benefits to be derived by the Advisor from its relationship with the Trust; and (7) potential conflicts of interest. The Board considered that each New Fund was a passively managed ETF designed to track an index.
In reviewing such factors, the Board relied on certain information, including (1) a copy of the Advisory Agreement Amendment; (2) information about applicable expense limitation and fee waiver agreements; (3) information describing the Advisor and the services provided thereby; (4) information regarding the compliance program and portfolio management team of the Advisor; (5) copies of the Form ADV for the Advisor; (6) memoranda and guidance from legal counsel to the Independent Trustees on the fiduciary responsibilities of trustees, including Independent Trustees, in considering advisory and distribution agreements under the 1940 Act; (7) materials provided by the Advisor in response to a 15(c) request for information from legal counsel to the Independent Trustees; and (8) a presentation, via videoconference, by personnel of the Advisor. In addition, the Board was provided data comparing the advisory fees and operating expenses of each New Fund with expenses and performance of other registered investment companies with similar investment objectives and policies and (9) information about the Advisor’s relationships with Girls Who Code, Oceana, and National Wildlife Federation, the respective non-profit organizations aligned with IQ Engender Equality ETF, IQ Clean Oceans ETF and IQ Cleaner Transport ETF, including the license for each respective New Fund to use the name and certain trademarks and the payments made by the Advisor or its affiliates to each such non-profit. The Trustees also considered their personal experiences as Trustees and participants in the ETF and mutual fund industry, as applicable, including their experiences with the Advisor in respect of series of the Trust and IndexIQ Active ETF Trust.
In particular, the Trustees including the Independent Trustees, considered and discussed the following with respect to the New Funds:
1.
The nature, extent, and quality of the facilities and services to be provided to the New Funds by IndexIQ. The Independent Trustees reviewed the services that IndexIQ would provide to the New Funds. In connection with the investment advisory services to be provided to the New Funds, the Independent
Board Review of Investment Advisory Agreements (unaudited) (continued)
Trustees noted the responsibilities that IndexIQ would have as the New Funds’ investment adviser, including overall supervisory responsibility for the general management and investment of the New Funds’ securities portfolio, ultimate responsibility, subject to oversight by the Board, for daily monitoring and quarterly reporting to the Board, and the implementation of Board directives as they relate to the New Funds.
The Independent Trustees reviewed and considered IndexIQ’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 the New Funds would likely benefit from the nature, quality, and extent of these services, as well as IndexIQ’s ability to render such services based on its experience, operations, and resources.
2.
Comparison of services to be provided and fees to be charged by IndexIQ and other investment advisers to similar clients, and the cost of the services to be provided and profits to be realized by IndexIQ from its relationship with the New Funds. The Independent Trustees then compared both the services to be rendered and the proposed fees to be paid pursuant to the Advisory Agreement Amendment with IndexIQ to contracts of other investment advisers with respect to similar ETFs. In particular, the Independent Trustees compared each New Fund’s proposed advisory fee and projected expense ratio for each New Fund’s first year of operations to other ETFs in each New Fund’s respective peer group. The Independent Trustees also considered that the New Funds will have in place an Expense Limitation Agreement to limit the total operating expenses for a period of at least one year.
After comparing the New Funds’ proposed fees with those of other funds in each New Fund’s respective peer group, and in light of the nature, quality, and extent of services proposed to be provided by IndexIQ and the costs expected to be incurred by IndexIQ in rendering those services, the Independent Trustees concluded that the fees proposed to be paid to IndexIQ with respect to the New Funds were fair and reasonable.
3.
IndexIQ’s profitability and the extent to which economies of scale would be realized as the New Funds grow 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 IndexIQ in connection with its serving as investment adviser to the New Funds, including operational costs. Due to the fact that the New Funds had no assets at the time, the Independent Trustees made no determination with respect to economies of scale or the impact of the New Funds on IndexIQ’s profitability.
4.
Investment performance of IndexIQ. Because the New Funds had not commenced operations, the Independent Trustees could not consider the investment performance of the New Funds.
Conclusion. No single factor was determinative to the decision of the Independent Trustees. Based on the foregoing and such other matters as were deemed relevant, the Independent Trustees concluded that the terms of the Advisory Agreement Amendment with IndexIQ was reasonable and fair to the New Funds and to recommend to the Board the approval of the Advisory Agreement Amendment.
As a result, all of the Board members, including the Independent Trustees, determined that the Advisory Agreement Amendment was in the best interests of the New Funds. The Board and the Independent Trustees, voting separately, approved the Advisory Agreement Amendment with respect to the New Funds.
IndexIQ ETF Trust
SEMI-ANNUAL REPORT | OCTOBER 31, 2021
IQ Hedge Multi-Strategy Tracker ETF (QAI)
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 S&P High Yield Low Volatility Bond ETF (HYLV)
IQ Merger Arbitrage ETF (MNA)
IQ Global Resources ETF (GRES)
IQ U.S. Real Estate Small Cap ETF (ROOF)
IQ 50 Percent Hedged FTSE International ETF (HFXI)
IQ Chaikin U.S. Large Cap ETF (CLRG)
IQ Chaikin U.S. Small Cap ETF (CSML)
IQ 500 International ETF (IQIN)
IQ Candriam ESG U.S. Equity ETF (IQSU)
IQ Candriam ESG International Equity ETF (IQSI)
IQ Healthy Hearts ETF (HART)
IQ Engender Equality ETF (EQUL)
IQ Cleaner Transport ETF (CLNR)
IQ Clean Oceans ETF (OCEN)
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
1717 Rhode Island Avenue
Washington, DC 20036
Independent Registered Public Accounting Firm
PricewaterhouseCoopers LLP
300 Madison Avenue
New York, NY 10017
Item 2. Code of Ethics.
Not applicable.
Item 3. Audit Committee Financial Expert.
Not applicable.
Item 4. Principal Accountant Fees and Services.
Not applicable.
Item 5. Audit Committee of Listed Registrants.
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. |
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 directors, 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 period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13. Exhibits.
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) |
| | |
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) |
| | |
| By (Signature and Title) | /s/ Adefolahan O. Oyefeso |
| | Adefolahan O. Oyefeso |
| | (Principal Financial Officer) |
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