Indexiq Etf Trust (AGGP) N-CSRS Certified semi-annual shareholder report (management investment company)

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, 2022

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, 2022

 

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 CBRE NextGen Real Estate ETF (Formerly IQ U.S. Real Estate Small Cap ETF) (ROOF) IQ FTSE International Equity Currency Neutral ETF (Formerly 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. Large Cap Equity ETF (Formerly IQ Candriam ESG US Equity ETF) (IQSU) IQ Candriam ESG U.S. Mid Cap Equity ETF (IQSM) 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) IQ Global Equity R&D Leaders ETF (WRND) IQ U.S. Large Cap R&D Leaders ETF (LRND) IQ U.S. Mid Cap R&D Leaders ETF (MRND)

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/etf 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/etf 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, visiting neworklifeinvestments.com/etf, or by accessing the SEC’s website at www.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 www.sec.gov. Additionally, the Funds' makes its portfolio holdings for the first and third quarters of each fiscal year available on the Funds’ website at newyorklifeinvestments.com\documents.

Availablity of Premium/Discount Information

Each Funds’ premium/discount information is available, free of charge, on the Funds’ website newyorklifeinvestments.com/etf 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.

Table of Contents  

Shareholder Letter	4
Fund Expenses	5
Portfolio Summaries	8
Schedules of Investments	​
IQ Hedge Multi-Strategy Tracker ETF	14
IQ Hedge Macro Tracker ETF	23
IQ Hedge Market Neutral Tracker ETF	27
IQ Hedge Long/Short Tracker ETF	30
IQ Hedge Event-Driven Tracker ETF	33
IQ Real Return ETF	35
IQ S&P High Yield Low Volatility Bond ETF	42
IQ Merger Arbitrage ETF	50
IQ Global Resources ETF	53
IQ CBRE NextGen Real Estate ETF	57
IQ FTSE International Equity Currency Neutral ETF	59
IQ Chaikin U.S. Large Cap ETF	70
IQ Chaikin U.S. Small Cap ETF	72
IQ 500 International ETF	78
IQ Candriam ESG U.S. Large Cap Equity ETF	84
IQ Candriam ESG U.S. Mid Cap Equity ETF	88
IQ Candriam ESG International Equity ETF	91
IQ Healthy Hearts ETF	99
IQ Engender Equality ETF	101
IQ Cleaner Transport ETF	103
IQ Clean Oceans ETF	105
IQ Global Equity R&D Leaders ETF	107
IQ U.S. Large Cap R&D Leaders ETF	110
IQ U.S. Mid Cap R&D Leaders ETF	112
Statements of Assets and Liabilities	114
Statements of Operations	120
Statements of Changes in Net Assets	126
Financial Highlights	138
Notes to Financial Statements	162
Board Review of Investment Advisory Agreement	191

3​

Shareholder Letter (unaudited) 

Message from the President

A series of economic and geopolitical challenges undermined equity and fixed-income markets during the six-month reporting period ended October 31, 2022. Stocks and bonds alike trended lower in the face of sharply rising interest rates, increasing inflationary pressures, slowing economic growth and Russia’s invasion of Ukraine.

The reporting period began on a mixed note, with concerns about rising inflation and Russia’s invasion of Ukraine weighing on markets. On one hand, rising commodity prices and hopes that inflationary pressures might subside supported some asset classes and sectors. On the other, the U.S. Federal Reserve (the “Fed”) issued increasingly hawkish statements regarding its intention to combat mounting inflation. As a result, equity markets remained flat while U.S. fixed-income markets gained modest ground in May. Early June saw a downturn across asset classes as economic data showed increasing inflationary pressures, causing investors to anticipate a higher-than-previously-expected rate increase from the Fed at its meeting on June 15, 2022. Indeed, the Fed raised rates by 0.75% at that meeting, from a range of 0.75% to 1.00% to a range of 1.50% to 1.75%, its largest increase of the year to date. Markets rallied in the wake of the Fed meeting as investors started to hope that slowing economic growth might lead to rate decreases later in the year. In August, however, signs of persistently increasing inflation and statements from the Fed indicated that further rate increases were seen as necessary, undercutting optimism and driving stock and bond prices lower through mid-October. The Fed implemented two additional 0.75% rate increases during that time, with additional increases expected before the end of the year. International central banks generally raised rates as well, in efforts to curb local inflation, although most increases remained significantly more modest than those in the United States. Relatively high U.S. interest rates and international risk-averse sentiment pushed U.S. dollar values higher compared to most other currencies, with the ensuing negative impact on global prices for food, fuel and other key, U.S.-dollar-denominated products.

Despite a rally in the closing weeks of October, the S&P 500® Index, a widely regarded benchmark of U.S. market performance, declined by more than 5% during the reporting period. Although the energy sector generated strong gains, bolstered by elevated oil and gas prices, most other industry areas recorded losses. The more cyclical and growth-oriented sectors of consumer discretionary, real estate and information technology delivered the weakest returns, while the traditionally defensive and value-oriented consumer staples, utilities and health care sectors outperformed. International stocks lagged compared to their U.S. counterparts, with some emerging markets, such as China, suffering particularly steep losses. A few markets, however, including Brazil and Mexico, gained ground. Fixed-income markets saw bond prices broadly decline as yields rose along with interest rates. Short-term yields rose faster than long-term yields, producing a yield curve inversion from July through the end of the reporting period, with long-term rates remaining below short-term rates. Some floating-rate instruments, which feature variable interest rates that allow investors to benefit from a rising rate environment, provided a degree of insulation from inflation-driven trends.

While the Fed acknowledges the costs of rising rates in terms of weaker GDP (gross domestic product) growth and unsettled financial markets over the short term, its primary focus continues to be the longer-term economic impact of inflation. With the latest figures as of the date of this report showing that inflation remains above 8%, versus a target rate of just 2%, the Fed clearly has a distance yet to go, making further rate increases and market volatility more likely in the coming months. The question remains as to whether the Fed and other central banks will manage a so-called “soft landing,” curbing inflation while avoiding a persistent economic slowdown. If they prove successful, we expect that favorable inflation trends and increasingly attractive valuations in both equity and bond markets should eventually translate into sustainable improvements in the investment environment.

Whatever actions the Fed takes and however financial markets react, you can depend on us to provide you with the intelligent investment solutions that define the IndexIQ portfolio of exchange-traded funds. Thank you for trusting us to help you meet your investment needs.

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.

Not part of the Semi-Annual Report

4

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 05/01/22 to 10/31/22” to estimate the expenses you paid on your account during this period. To the extent a Fund invests in any underlying funds, that Fund will indirectly bear its pro rata share of the expenses incurred by any underlying fund investments in which each such 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. To the extent a Fund invests in any underlying funds that Fund will indirectly bear its pro rata share of the expenses incurred by any underlying fund investments in which the Fund invests. 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 05/01/2022			Ending Account Value 10/31/2022			Annualized Expense Ratios for the Period 05/01/2022 to 10/31/2022		Expenses Paid During the Period 05/01/2022 to 10/31/20221
IQ Hedge Multi-Strategy Tracker ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	946.10	​	0.56%	​	$	2.75
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,022.38	​	0.56%	​	$	2.85
IQ Hedge Macro Tracker ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	938.20	​	0.45%	​	$	2.20
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,022.94	​	0.45%	​	$	2.29
IQ Hedge Market Neutral Tracker ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	967.30	​	0.45%	​	$	2.23
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,022.94	​	0.45%	​	$	2.29
IQ Hedge Long/Short Tracker ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	941.00	​	0.44%	​	$	2.15
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,022.99	​	0.44%	​	$	2.24
IQ Hedge Event-Driven Tracker ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	958.10	​	0.45%	​	$	2.22
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,022.94	​	0.45%	​	$	2.29

5​

Fund Expenses (unaudited) (continued)

​	Beginning Account Value 05/01/2022			Ending Account Value 10/31/2022			Annualized Expense Ratios for the Period 05/01/2022 to 10/31/2022		Expenses Paid During the Period 05/01/2022 to 10/31/20221
IQ Real Return ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	945.30	​	0.28%	​	$	1.37
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,023.79	​	0.28%	​	$	1.43
IQ S&P High Yield Low Volatility Bond ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	971.70	​	0.42%	​	$	2.09
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,023.09	​	0.42%	​	$	2.14
IQ Merger Arbitrage ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	995.50	​	0.78%	​	$	3.92
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,021.27	​	0.78%	​	$	3.97
IQ Global Resources ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	938.00	​	0.32%	​	$	1.56
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,023.59	​	0.32%	​	$	1.63
IQ CBRE NextGen Real Estate ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	782.30	​	0.70%	​	$	3.14
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,021.68	​	0.70%	​	$	3.57
IQ FTSE International Equity Currency Neutral ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	909.90	​	0.21%	​	$	1.01
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,024.15	​	0.21%	​	$	1.07
IQ Chaikin U.S. Large Cap ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	975.40	​	0.25%	​	$	1.24
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	​	$	1,030.60	​	0.36%	​	$	1.84
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,023.39	​	0.36%	​	$	1.84
IQ 500 International ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	879.70	​	0.25%	​	$	1.18
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,023.95	​	0.25%	​	$	1.28
IQ Candriam ESG U.S. Large Cap Equity ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	929.60	​	0.09%	​	$	0.44
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,024.75	​	0.09%	​	$	0.46
IQ Candriam ESG U.S. Mid Cap Equity ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	1,036.00	​	0.15%	​	$	0.03*
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,000.93	​	0.15%	​	$	0.03
IQ Candriam ESG International Equity ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	874.40	​	0.15%	​	$	0.71
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	​	$	930.20	​	0.46%	​	$	2.24
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,022.89	​	0.46%	​	$	2.35
IQ Engender Equality ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	968.80	​	0.46%	​	$	2.28
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,022.89	​	0.46%	​	$	2.35
IQ Cleaner Transport ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	864.30	​	0.46%	​	$	2.16
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,022.89	​	0.46%	​	$	2.35

6

Fund Expenses (unaudited) (continued)

​	Beginning Account Value 05/01/2022			Ending Account Value 10/31/2022			Annualized Expense Ratios for the Period 05/01/2022 to 10/31/2022		Expenses Paid During the Period 05/01/2022 to 10/31/20221
IQ Clean Oceans ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	847.80	​	0.46%	​	$	2.14
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,022.89	​	0.46%	​	$	2.35
IQ Global Equity R&D Leaders ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	867.30	​	0.19%	​	$	0.89
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,024.25	​	0.19%	​	$	0.97
IQ U.S. Large Cap R&D Leaders ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	908.90	​	0.15%	​	$	0.72
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,024.45	​	0.15%	​	$	0.77
IQ U.S. Mid Cap R&D Leaders ETF	​	​	​	​	​	​	​	​	​	​	​
Actual	​	$	1,000.00	​	$	912.70	​	0.17%	​	$	0.82
Hypothetical (assuming a 5% return before expenses)	​	$	1,000.00	​	$	1,024.35	​	0.17%	​	$	0.87

*

Fund commenced operation on October 25, 2022. Expenses are calculated using the Fund’s annualized expense ratio, multiplied by the ending value for the period, multiplied by 7/365 (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.

7​

Portfolio Summaries* (unaudited) 

October 31, 2022

IQ Hedge Multi-Strategy Tracker ETF
Net Assets ($ mil): $648.9

Asset Class	% of Net Assets
Money Market Fund	​	21.5%
Investment Grade Corporate Bond Funds	​	18.6
U.S. Ultra Short Term Bond Funds	​	12.4
Convertible Bond Funds	​	11.9
Bank Loan Funds	​	9.2
Emerging Equity Funds	​	8.0
U.S. Medium Term Treasury Bond Funds	​	6.8
U.S. Large Cap Core Funds	​	5.0
Floating Rate — Investment Grade Funds	​	4.2
International Equity Core Funds	​	3.3
U.S. Large Cap Growth Funds	​	3.1
Emerging Bonds — Local Currency Funds	​	2.7
Gold Funds	​	2.7
Emerging Markets Small Cap Equity Fund	​	2.4
U.S. Dollar Fund	​	2.4
U.S. Preferred Fund	​	1.4
Europe Equity Funds	​	1.4
Silver Funds	​	1.3
U.S. Small Cap Growth Funds	​	1.1
U.S. Momentum Fund	​	0.9
International Large Cap Growth Fund	​	0.4
U.S. REITS Funds	​	0.3
High Yield Corporate Bond Funds	​	0.3
Mortgage Backed Securities Funds	​	0.2
Municipal Bond Fund	​	0.0(a)
Total Investments	​	121.5
Other Assets and Liabilities, Net	​	(21.5)
Total Net Assets	​	100.0%

*

Each Fund’s portfolio is subject to change.

(a)

Less than 0.05%.

IQ Hedge Macro Tracker ETF
Net Assets ($ mil): $2.5

Asset Class	% of Net Assets
U.S. Ultra Short Term Bond Funds	​	26.0%
Emerging Equity Funds	​	15.0
Convertible Bond Funds	​	12.7
Investment Grade Corporate Bond Funds	​	7.9
U.S. Medium Term Treasury Bond Funds	​	7.8
Floating Rate — Investment Grade Funds	​	4.9
Emerging Bonds — Local Currency Funds	​	4.9
Money Market Funds	​	4.7
Gold Funds	​	3.9
U.S. Large Cap Growth Funds	​	3.0
Emerging Small Cap Equity Fund	​	2.7
U.S. Dollar Fund	​	2.7
High Yield Corporate Bond Funds	​	2.5
Europe Equity Funds	​	2.0
U.S. Large Cap Core Funds	​	1.9
Silver Funds	​	1.9
Total Investments	​	104.5
Other Assets and Liabilities, Net	​	(4.5)
Total Net Assets	​	100.0%

See notes to financial statements.

8

Portfolio Summaries* (unaudited) (continued)

October 31, 2022

IQ Hedge Market Neutral Tracker ETF
Net Assets ($ mil): $6.2

Asset Class	% of Net Assets
Money Market Funds	​	27.6%
Bank Loan Funds	​	18.3
Floating Rate — Investment Grade Funds	​	18.1
U.S. Medium Term Treasury Bond Funds	​	17.9
U.S. Ultra Short Term Bond Funds	​	11.6
U.S. Low Volatility Fund	​	6.3
High Yield Corporate Bond Funds	​	6.2
Treasury Inflation Protected Securities	​	6.1
U.S. Preferred Fund	​	6.0
Convertible Bond Funds	​	3.3
U.S. Dollar Fund	​	2.8
Mortgage Backed Securities Funds	​	2.8
Volatility Note	​	0.4
Emerging Bonds — Local Currency Funds	​	0.0(a)
Total Investments	​	127.4
Other Assets and Liabilities, Net	​	(27.4)
Total Net Assets	​	100.0%

IQ Hedge Long/Short Tracker ETF
Net Assets ($ mil): $20.1

Asset Class	% of Net Assets
U.S. Large Cap Core Funds	​	29.7%
International Equity Core Funds	​	29.3
Investment Grade Corporate Bond Funds	​	17.1
U.S. Momentum Fund	​	7.8
Bank Loan Funds	​	7.0
Money Market Funds	​	5.0
International Large Cap Growth Fund	​	3.2
U.S. REITS Funds	​	3.0
U.S. Ultra Short Term Bond Funds	​	1.9
Volatility Note	​	1.0
Total Investments	​	105.0
Other Assets and Liabilities, Net	​	(5.0)
Total Net Assets	​	100.0%

*

Each Fund’s portfolio is subject to change.

(a)

Less than 0.05%.

IQ Hedge Event-Driven Tracker ETF
Net Assets ($ mil): $6.2

Asset Class	% of Net Assets
Investment Grade Corporate Bond Funds	​	43.8%
Bank Loan Funds	​	23.9
Convertible Bond Funds	​	22.0
Money Market Funds	​	17.2
U.S. Small Cap Growth Funds	​	5.3
U.S. Preferred Fund	​	4.8
U.S. Ultra Short Term Bond Funds	​	0.0(a)
Total Investments	​	117.0
Other Assets and Liabilities, Net	​	(17.0)
Total Net Assets	​	100.0%

IQ Real Return ETF
Net Assets ($ mil): $8.7

Industry	% of Net Assets
Government	​	59.7%
Commodity Funds	​	9.8
Information Technology	​	6.4
Financials	​	5.0
Industrials	​	3.6
Health Care	​	3.6
Energy	​	2.5
Consumer Discretionary	​	2.5
Communication Services	​	1.7
Consumer Staples	​	1.6
Utilities	​	1.3
Real Estate	​	1.2
Materials	​	0.9
Money Market Funds	​	0.1
Total Investments	​	99.9
Other Assets and Liabilities, Net	​	0.1
Total Net Assets	​	100.0%

See notes to financial statements.

9​

Portfolio Summaries* (unaudited) (continued)

October 31, 2022

IQ S&P High Yield Low Volatility Bond ETF
Net Assets ($ mil): $18.2

Industry	% of Net Assets
Energy	​	15.5%
Consumer Discretionary	​	14.9
Industrials	​	11.4
Media	​	11.2
Health Care	​	8.2
Information Technology	​	5.5
Consumer Staples	​	5.4
Materials	​	5.4
Utilities	​	4.6
Telecommunication Services	​	4.6
Financials	​	4.1
Real Estate	​	3.6
Transportation	​	3.3
Money Market Funds	​	1.9
Total Investments	​	99.6
Other Assets and Liabilities, Net	​	0.4
Total Net Assets	​	100.0%

IQ Merger Arbitrage ETF
Net Assets ($ mil): $558.9

Industry	% of Net Assets
Information Technology	​	24.2%
Money Market Funds	​	21.1
Health Care	​	14.6
Real Estate	​	8.5
Industrials	​	7.2
U.S. Ultra Short Term Bond Funds	​	7.2
Communication Services	​	6.6
Financials	​	4.6
Consumer Discretionary	​	3.6
Materials	​	1.3
Consumer Staples	​	1.1
Energy	​	1.0
Utilities	​	1.0
Total Investments	​	102.0
Other Assets and Liabilities, Net	​	(2.0)
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): $36.3

Industry	% of Net Assets
Energy	​	32.3%
Grains Food Fiber	​	26.2
Industrial Metals	​	21.7
Precious Metals	​	6.2
Water	​	5.0
Timber	​	4.7
Livestock	​	3.4
Money Market Funds	​	0.3
Coal	​	0.0(a)
Total Investments	​	99.8
Other Assets and Liabilities, Net	​	0.2
Total Net Assets	​	100.0%

IQ CBRE NextGen Real Estate ETF
Net Assets ($ mil): $26.9

Industry	% of Net Assets
Industrial	​	33.7%
Infrastructure (Tower)	​	17.3
Multi-Family Residential	​	14.6
Data Center	​	14.4
Health Care	​	12.1
Single-Family Residential	​	3.1
Manufactured Homes	​	3.0
Data Center Property Owners	​	0.6
REITs	​	0.6
Student Housing	​	0.5
Money Market Fund	​	0.2
Total Investments	​	100.1
Other Assets and Liabilities, Net	​	(0.1)
Total Net Assets	​	100.0%

See notes to financial statements.

10

Portfolio Summaries* (unaudited) (continued)

October 31, 2022

IQ FTSE International Equity Currency Neutral ETF
Net Assets ($ mil): $264.9

Industry	% of Net Assets
Financials	​	17.0%
Industrials	​	15.5
Health Care	​	12.9
Consumer Discretionary	​	10.8
Consumer Staples	​	10.1
Information Technology	​	9.8
Materials	​	8.0
Energy	​	4.8
Communication Services	​	4.7
Utilities	​	3.2
Real Estate	​	3.0
Money Market Fund	​	0.4
Total Investments	​	100.2
Other Assets and Liabilities, Net	​	(0.2)
Total Net Assets	​	100.0%

IQ Chaikin U.S. Large Cap ETF
Net Assets ($ mil): $277.9

Industry	% of Net Assets
Information Technology	​	23.4%
Health Care	​	20.1
Consumer Discretionary	​	13.1
Industrials	​	13.0
Financials	​	12.6
Communication Services	​	5.8
Consumer Staples	​	4.4
Energy	​	3.9
Real Estate	​	1.7
Utilities	​	0.9
Materials	​	0.9
Total Investments	​	99.8
Other Assets and Liabilities, Net	​	0.2
Total Net Assets	​	100.0%

*

Each Fund’s portfolio is subject to change.

IQ Chaikin U.S. Small Cap ETF
Net Assets ($ mil): $238.2

Industry	% of Net Assets
Financials	​	24.1%
Industrials	​	18.3
Health Care	​	12.8
Information Technology	​	10.7
Consumer Discretionary	​	10.4
Energy	​	5.4
Real Estate	​	4.6
Materials	​	4.2
Consumer Staples	​	3.9
Utilities	​	3.2
Communication Services	​	2.3
Money Market Funds	​	0.5
Total Investments	​	100.4
Other Assets and Liabilities, Net	​	(0.4)
Total Net Assets	​	100.0%

IQ 500 International ETF
Net Assets ($ mil): $180.9

Industry	% of Net Assets
Industrials	​	21.1%
Consumer Discretionary	​	13.0
Consumer Staples	​	11.2
Financials	​	10.0
Materials	​	9.6
Energy	​	9.3
Communication Services	​	8.5
Health Care	​	6.7
Utilities	​	5.8
Information Technology	​	4.3
Money Market Fund	​	1.9
Total Investments	​	101.4
Other Assets and Liabilities, Net	​	(1.4)
Total Net Assets	​	100.0%

See notes to financial statements.

11​

Portfolio Summaries* (unaudited) (continued)

October 31, 2022

IQ Candriam ESG U.S. Large Cap Equity ETF
Net Assets ($ mil): $372.7

Industry	% of Net Assets
Information Technology	​	35.4%
Consumer Discretionary	​	14.1
Health Care	​	9.8
Financials	​	8.7
Consumer Staples	​	8.0
Communication Services	​	7.9
Industrials	​	5.0
Energy	​	3.8
Real Estate	​	3.2
Materials	​	2.3
Utilities	​	1.5
Money Market Fund	​	0.0(a)
Total Investments	​	99.7
Other Assets and Liabilities, Net	​	0.3
Total Net Assets	​	100.0%

IQ Candriam ESG U.S. Mid Cap Equity ETF
Net Assets ($ mil): $5.2

Industry	% of Net Assets
Industrials	​	20.0%
Information Technology	​	15.2
Consumer Discretionary	​	14.4
Financials	​	12.3
Health Care	​	11.7
Real Estate	​	9.8
Materials	​	6.5
Consumer Staples	​	4.3
Communication Services	​	2.7
Utilities	​	1.5
Energy	​	1.5
Money Market Fund	​	0.1
Total Investments	​	100.0
Other Assets and Liabilities, Net	​	0.0(a)
Total Net Assets	​	100.0%

*

Each Fund’s portfolio is subject to change.

(a)

Less than 0.05%.

IQ Candriam ESG International Equity ETF
Net Assets ($ mil): $181.2

Industry	% of Net Assets
Financials	​	16.6%
Health Care	​	16.3
Industrials	​	14.1
Consumer Discretionary	​	11.4
Consumer Staples	​	8.9
Information Technology	​	8.6
Energy	​	6.5
Materials	​	6.5
Communication Services	​	5.1
Real Estate	​	2.8
Utilities	​	2.7
Money Market Funds	​	0.6
Total Investments	​	100.1
Other Assets and Liabilities, Net	​	(0.1)
Total Net Assets	​	100.0%

IQ Healthy Hearts ETF
Net Assets ($ mil): $7.6

Industry	% of Net Assets
Health Care	​	70.4%
Consumer Discretionary	​	10.8
Consumer Staples	​	7.5
Information Technology	​	4.9
Communication Services	​	4.5
Industrials	​	1.4
Real Estate	​	0.4
Money Market Fund	​	0.3
Total Investments	​	100.2
Other Assets and Liabilities, Net	​	(0.2)
Total Net Assets	​	100.0%

See notes to financial statements.

12

Portfolio Summaries* (unaudited) (continued)

October 31, 2022

IQ Engender Equality ETF
Net Assets ($ mil): $5.2

Industry	% of Net Assets
Information Technology	​	17.0%
Financials	​	16.8
Health Care	​	15.1
Consumer Discretionary	​	11.5
Consumer Staples	​	11.4
Communication Services	​	8.3
Industrials	​	7.6
Materials	​	6.8
Real Estate	​	3.9
Utilities	​	1.4
Money Market Fund	​	0.1
Total Investments	​	99.9
Other Assets and Liabilities, Net	​	0.1
Total Net Assets	​	100.0%

IQ Cleaner Transport ETF
Net Assets ($ mil): $4.4

Industry	% of Net Assets
Industrials	​	31.2%
Information Technology	​	30.8
Consumer Discretionary	​	27.9
Utilities	​	6.6
Communication Services	​	2.9
Materials	​	0.5
Money Market Fund	​	0.1
Total Investments	​	100.0
Other Assets and Liabilities, Net	​	0.0(a)
Total Net Assets	​	100.0%

IQ Clean Oceans ETF
Net Assets ($ mil): $4.4

Industry	% of Net Assets
Information Technology	​	27.7%
Industrials	​	26.6
Materials	​	15.2
Utilities	​	13.7
Consumer Staples	​	9.4
Consumer Discretionary	​	7.2
Money Market Funds	​	0.2
Total Investments	​	100.0
Other Assets and Liabilities, Net	​	0.0(a)
Total Net Assets	​	100.0%

*

Each Fund’s portfolio is subject to change.

(a)

Less than 0.05%.

IQ Global Equity R&D Leaders ETF
Net Assets ($ mil): $3.8

Industry	% of Net Assets
Information Technology	​	32.6%
Health Care	​	26.1
Consumer Discretionary	​	20.5
Communication Services	​	10.6
Industrials	​	7.9
Materials	​	0.9
Consumer Staples	​	0.8
Energy	​	0.5
Total Investments	​	99.9
Other Assets and Liabilities, Net	​	0.1
Total Net Assets	​	100.0%

IQ U.S. Large Cap R&D Leaders ETF
Net Assets ($ mil): $4.1

Industry	% of Net Assets
Information Technology	​	39.3%
Health Care	​	27.8
Consumer Discretionary	​	12.8
Communication Services	​	12.6
Industrials	​	5.7
Materials	​	0.9
Consumer Staples	​	0.5
Energy	​	0.3
Money Market Fund	​	0.0(a)
Total Investments	​	99.9
Other Assets and Liabilities, Net	​	0.1
Total Net Assets	​	100.0%

IQ U.S. Mid Cap R&D Leaders ETF
Net Assets ($ mil): $4.1

Industry	% of Net Assets
Information Technology	​	35.9%
Health Care	​	26.4
Consumer Discretionary	​	12.9
Communication Services	​	9.1
Industrials	​	7.1
Materials	​	6.9
Money Market Fund	​	3.2
Energy	​	0.9
Real Estate	​	0.6
Total Investments	​	103.0
Other Assets and Liabilities, Net	​	(3.0)
Total Net Assets	​	100.0%

See notes to financial statements.

13​

Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF 

October 31, 2022 (unaudited)

​	Shares			Value
Exchange Traded Vehicles — 6.4%
Gold Funds — 2.7%
abrdn Gold ETF Trust*	​	​	74,523	​	$	1,164,795
Graniteshares Gold Trust*	​	​	26,608	​	​	430,251
iShares Gold Trust*(a)	​	​	429,845	​	​	13,316,598
SPDR Gold MiniShares Trust*	​	​	74,073	​	​	2,400,706
Total Gold Funds	​	​	​	​	​	17,312,350
Silver Funds — 1.3%
abrdn Silver ETF Trust*	​	​	41,306	​	​	760,443
iShares Silver Trust*(a)	​	​	440,327	​	​	7,758,562
Total Silver Funds	​	​	​	​	​	8,519,005
U.S. Dollar Fund — 2.4%
Invesco DB U.S. Dollar Index Bullish Fund*(a)	​	​	525,984	​	​	15,795,300
Total Exchange Traded Vehicles
(Cost $42,957,116)	​	���	​	​	​	41,626,655
Investment Companies — 93.6%
Bank Loan Funds — 9.2%
Invesco Senior Loan ETF(a)	​	​	903,490	​	​	18,720,313
SPDR Blackstone Senior Loan ETF(a)	​	​	984,867	​	​	40,714,402
Total Bank Loan Funds	​	​	​	​	​	59,434,715
Convertible Bond Funds — 11.9%
iShares Convertible Bond ETF(a)	​	​	330,998	​	​	23,358,529
SPDR Bloomberg Convertible Securities ETF(a)	​	​	829,773	​	​	54,009,924
Total Convertible Bond Funds	​	​	​	​	​	77,368,453
Emerging Bonds — Local Currency Funds — 2.7%
SPDR Bloomberg Emerging Markets Local Bond ETF	​	​	396,613	​	​	7,472,189
VanEck J. P. Morgan EM Local Currency Bond ETF	​	​	442,851	​	​	10,035,004
Total Emerging Bonds — Local Currency Funds	​	​	​	​	​	17,507,193
Emerging Equity Funds — 8.0%
iShares Core MSCI Emerging Markets ETF	​	​	218,680	​	​	9,261,098
iShares MSCI Emerging Markets Min Vol Factor ETF(a)	​	​	622,205	​	​	31,228,469
Schwab Emerging Markets Equity ETF	​	​	56,547	​	​	1,225,373
Vanguard FTSE Emerging Markets ETF(a)	​	​	286,759	​	​	10,165,607
Total Emerging Equity Funds	​	​	​	​	​	51,880,547
Emerging Markets Small Cap Equity Fund — 2.4%
SPDR S&P Emerging Markets SmallCap ETF	​	​	348,077	​	​	15,844,465
Europe Equity Funds — 1.4%
iShares Core MSCI Europe ETF(a)	​	​	33,633	​	​	1,442,519
JPMorgan BetaBuilders Europe ETF(a)	​	​	33,719	​	​	1,470,823
Vanguard FTSE Europe ETF(a)	​	​	118,151	​	​	5,912,276
Total Europe Equity Funds	​	​	​	​	​	8,825,618
Floating Rate — Investment Grade Funds — 4.2%
iShares Floating Rate Bond ETF	​	​	399,242	​	​	20,057,918
SPDR Bloomberg Investment Grade Floating Rate ETF	​	​	229,006	​	​	6,943,462
Total Floating Rate — Investment Grade Funds	​	​	​	​	​	27,001,380

​	Shares		Value
Investment Companies (continued)
High Yield Corporate Bond Funds — 0.3%
iShares iBoxx High Yield Corporate Bond ETF(a)	​	15,450	​	$	1,134,494
SPDR Bloomberg High Yield Bond ETF(a)	​	5,368	​	​	483,388
Xtrackers USD High Yield Corporate Bond ETF(a)	​	9,269	​	​	312,365
Total High Yield Corporate Bond Funds	​	​	​	​	1,930,247
International Equity Core Funds — 3.3%
iShares Core MSCI EAFE ETF	​	181,521	​	​	10,114,350
Vanguard FTSE Developed Markets ETF	​	293,008	​	​	11,301,319
Total International Equity Core Funds	​	​	​	​	21,415,669
International Large Cap Growth Fund — 0.4%
iShares MSCI EAFE Growth ETF(a)	​	30,907	​	​	2,354,804
Investment Grade Corporate Bond Funds — 18.6%
iShares Broad USD Investment Grade Corporate Bond ETF(a)	​	6,914	​	​	328,000
iShares iBoxx $ Investment Grade Corporate Bond ETF	​	15,548	​	​	1,575,790
iShares Trust iShares 1-5 Year Investment Grade Corporate Bond ETF(a)	​	803,491	​	​	39,419,268
Vanguard Intermediate-Term Corporate Bond ETF	​	25,086	​	​	1,885,464
Vanguard Short-Term Corporate Bond ETF(a)	​	1,049,631	​	​	77,662,198
Total Investment Grade Corporate Bond Funds	​	​	​	​	120,870,720
Mortgage Backed Securities Funds — 0.2%
iShares MBS ETF(a)	​	8,624	​	​	779,092
SPDR Portfolio Mortgage Backed Bond ETF	​	6,895	​	​	145,691
Vanguard Mortgage-Backed Securities ETF(a)	​	12,028	​	​	533,442
Total Mortgage Backed Securities Funds	​	​	​	​	1,458,225
Municipal Bond Fund — 0.0%(b)
VanEck High Yield Muni ETF	​	1	​	​	49
U.S. Large Cap Core Funds — 5.0%
Energy Select Sector SPDR Fund	​	93,926	​	​	8,453,340
Financial Select Sector SPDR Fund	​	206,044	​	​	7,001,375
Health Care Select Sector SPDR Fund(a)	​	48,309	​	​	6,413,020
iShares MSCI USA Quality Factor ETF	​	20,032	​	​	2,254,802
Vanguard Energy ETF	​	13,876	​	​	1,748,098
Vanguard Financials ETF	​	24,585	​	​	2,052,356
Vanguard Health Care ETF	​	19,026	​	​	4,623,889
Total U.S. Large Cap Core Funds	​	​	​	​	32,546,880
U.S. Large Cap Growth Funds — 3.1%
Schwab U.S. Large-Cap Growth ETF	​	45,775	​	​	2,668,225
Vanguard Growth ETF	​	60,670	​	​	13,513,636
Vanguard Mega Cap Growth ETF(a)	​	11,181	​	​	2,022,531
Vanguard Russell 1000 Growth ETF	​	27,859	​	​	1,595,206
Total U.S. Large Cap Growth Funds	​	​	​	​	19,799,598

See notes to financial statements.

14

Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Investment Companies (continued)
U.S. Medium Term Treasury Bond Funds — 6.8%
iShares 3-7 Year Treasury Bond ETF(a)	​	146,542	​	$	16,638,379
Schwab Intermediate-Term U.S. Treasury ETF	​	228,695	​	​	11,132,873
Vanguard Intermediate-Term Treasury ETF(a)	​	285,441	​	​	16,495,635
Total U.S. Medium Term Treasury Bond Funds	​	​	​	​	44,266,887
U.S. Momentum Fund — 0.9%
iShares MSCI USA Momentum Factor ETF	​	38,528	​	​	5,688,274
U.S. Preferred Fund — 1.4%
iShares Preferred & Income Securities ETF(a)	​	297,220	​	​	9,068,182
U.S. REITS Funds — 0.3%
Fidelity MSCI Real Estate Index ETF	​	3,467	​	​	85,808
iShares Core U.S. REIT ETF(a)	​	2,146	​	​	106,828
Vanguard Real Estate ETF	​	23,622	​	​	1,960,154
Total U.S. REITS Funds	​	​	​	​	2,152,790
U.S. Small Cap Growth Funds — 1.1%
iShares Russell 2000 Growth ETF	​	12,657	​	​	2,863,773
SPDR S&P 600 Small Cap Growth ETF	​	8,979	​	​	671,988
Vanguard Small-Cap Growth ETF(a)	​	17,727	​	​	3,702,461
Total U.S. Small Cap Growth Funds	​	​	​	​	7,238,222
U.S. Ultra Short Term Bond Funds — 12.4%
Goldman Sachs Access Treasury 0-1 Year ETF	​	118,238	​	​	11,801,335
Invesco Treasury Collateral ETF(a)	​	145,589	​	​	15,326,154
IQ Ultra Short Duration ETF†	​	649,892	​	​	30,668,403
iShares Short Treasury Bond ETF(a)	​	115,165	​	​	12,664,695
SPDR Bloomberg 1-3 Month T-Bill ETF	​	111,325	​	​	10,196,257
Total U.S. Ultra Short Term Bond Funds	​	​	​	​	80,656,844
Total Investment Companies (Cost $654,440,004)	​	​	​	​	607,309,762

​	Shares		Value
Short-Term Investment — 21.5%
Money Market Fund — 21.5%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.91%(c)(d) (Cost $139,268,137)	​	139,268,137	​	$	139,268,137
Total Investments — 121.5%
(Cost $836,665,257)	​	​	​	​	788,204,554
Other Assets and Liabilities, Net — (21.5)%	​	​	​	​	(139,266,678)
Net Assets — 100.0%	​	​	​	$	648,937,876

*

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 $160,593,309; total market value of collateral held by the Fund was $164,882,208. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of  $25,614,071.

(b)

Less than 0.05%.

(c)

Reflects the 1-day yield at October 31, 2022.

(d)

Represents security purchased with cash collateral received for securities on loan.

Total Return Swap contracts outstanding at October 31, 2022:
Total Return Benchmark	Counterparty	Floating Rate(e)	Expiration Date		Payment Frequency	Notional Amount Long/​ (Short)			Value/​ Unrealized Appreciation/​ (Depreciation)(f)
abrdn Gold ETF Trust	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	$	25,680	​	$	—
abrdn Gold ETF Trust	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	57,831	​	​	—
abrdn Silver ETF Trust	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	16,753	​	​	—
abrdn Silver ETF Trust	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	37,759	​	​	—
Consumer Discretionary Select Sector SPDR Fund	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(248,740)	​	​	—
Consumer Discretionary Select Sector SPDR Fund	Morgan Stanley	1-Day FEDEF –  0.15%	​	7/05/2023	Monthly	​	​	(558,980)	​	​	—
Energy Select Sector SPDR Fund	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	186,300	​	​	—
Energy Select Sector SPDR Fund	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	419,670	​	​	—

See notes to financial statements.

15​

Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)

October 31, 2022 (unaudited)

Total Return Swap contracts outstanding at October 31, 2022: (continued)
Total Return Benchmark	Counterparty	Floating Rate(e)	Expiration Date		Payment Frequency	Notional Amount Long/​ (Short)			Value/​ Unrealized Appreciation/​ (Depreciation)(f)
Fidelity MSCI Real Estate Index ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	$	1,881	​	$	—
Fidelity MSCI Real Estate Index ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	4,257	​	​	—
Financial Select Sector SPDR Fund	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	154,303	​	​	—
Financial Select Sector SPDR Fund	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	347,615	​	​	—
FlexShares Global Upstream Natural Resources Index Fund	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(561,004)	​	​	—
FlexShares Global Upstream Natural Resources Index Fund	Morgan Stanley	1-Day FEDEF –  0.35%	​	7/05/2023	Monthly	​	​	(1,260,632)	​	​	—
Goldman Sachs Access Treasury 0-1 Year ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	260,105	​	​	—
Goldman Sachs Access Treasury 0-1 Year ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	585,985	​	​	—
Graniteshares Gold Trust	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	9,476	​	​	—
Graniteshares Gold Trust	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	21,361	​	​	—
Health Care Select Sector SPDR Fund	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	141,379	​	​	—
Health Care Select Sector SPDR Fund	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	318,335	​	​	—
Industrial Select Sector SPDR Fund	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(266,444)	​	​	—
Industrial Select Sector SPDR Fund	Morgan Stanley	1-Day FEDEF –  0.15%	​	7/05/2023	Monthly	​	​	(598,651)	​	​	—
Invesco DB U.S. Dollar Index Bullish Fund	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	348,138	​	​	—
Invesco DB U.S. Dollar Index Bullish Fund	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	784,233	​	​	—
Invesco Senior Loan ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	412,618	​	​	—
Invesco Senior Loan ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	929,458	​	​	—
Invesco Treasury Collateral ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	337,811	​	​	—
Invesco Treasury Collateral ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	760,892	​	​	—
Invesco Variable Rate Preferred ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(2,006,727)	​	​	—
Invesco Variable Rate Preferred ETF	Morgan Stanley	1-Day FEDEF –  18.48%	​	7/05/2023	Monthly	​	​	(4,509,135)	​	​	—
IQ Ultra Short Duration ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	683,594	​	​	—
IQ Ultra Short Duration ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	1,522,680	​	​	—
iShares 0-5 Year High Yield Corporate Bond ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(1,235,508)	​	​	—
iShares 0-5 Year High Yield Corporate Bond ETF	Morgan Stanley	1-Day FEDEF –  3.93%	​	7/05/2023	Monthly	​	​	(2,776,248)	​	​	—
iShares 20+ Year Treasury Bond ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(173,479)	​	​	—
iShares 20+ Year Treasury Bond ETF	Morgan Stanley	1-Day FEDEF –  0.35%	​	7/05/2023	Monthly	​	​	(389,822)	​	​	—
iShares 3-7 Year Treasury Bond ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	366,734	​	​	—
iShares 3-7 Year Treasury Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	826,117	​	​	—
iShares Broad USD Investment Grade Corporate Bond ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	7,211	​	​	—
iShares Broad USD Investment Grade Corporate Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	16,272	​	​	—
iShares Convertible Bond ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	514,879	​	​	—

See notes to financial statements.

16

Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)

October 31, 2022 (unaudited)

Total Return Swap contracts outstanding at October 31, 2022: (continued)
Total Return Benchmark	Counterparty	Floating Rate(e)	Expiration Date		Payment Frequency	Notional Amount Long/​ (Short)			Value/​ Unrealized Appreciation/​ (Depreciation)(f)
iShares Convertible Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	$	1,159,747	​	$	—
iShares Core MSCI EAFE ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	222,936	​	​	—
iShares Core MSCI EAFE ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	502,149	​	​	—
iShares Core MSCI Emerging Markets ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	204,127	​	​	—
iShares Core MSCI Emerging Markets ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	459,794	​	​	—
iShares Core MSCI Europe ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	31,781	​	​	—
iShares Core MSCI Europe ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	71,626	​	​	—
iShares Core U.S. REIT ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	2,340	​	​	—
iShares Core U.S. REIT ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	5,277	​	​	—
iShares Floating Rate Bond ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	442,112	​	​	—
iShares Floating Rate Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	995,857	​	​	—
iShares Gold Trust	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	293,505	​	​	—
iShares Gold Trust	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	661,175	​	​	—
iShares iBoxx $ Investment Grade Corporate Bond ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	34,763	​	​	—
iShares iBoxx $ Investment Grade Corporate Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	78,242	​	​	—
iShares iBoxx High Yield Corporate Bond ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	24,966	​	​	—
iShares iBoxx High Yield Corporate Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	56,321	​	​	—
iShares JP Morgan USD Emerging Markets Bond ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(1,666,526)	​	​	—
iShares JP Morgan USD Emerging Markets Bond ETF	Morgan Stanley	1-Day FEDEF –  0.35%	​	7/05/2023	Monthly	​	​	(3,744,752)	​	​	—
iShares MBS ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	17,165	​	​	—
iShares MBS ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	38,666	​	​	—
iShares MSCI China ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(87,100)	​	​	—
iShares MSCI China ETF	Morgan Stanley	1-Day FEDEF –  0.68%	​	7/05/2023	Monthly	​	​	(195,761)	​	​	—
iShares MSCI EAFE Growth ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	51,885	​	​	—
iShares MSCI EAFE Growth ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	116,875	​	​	—
iShares MSCI Emerging Markets Min Vol Factor ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	688,306	​	​	—
iShares MSCI Emerging Markets Min Vol Factor ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	1,550,469	​	​	—
iShares MSCI Global Min Vol Factor ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(2,095,513)	​	​	—
iShares MSCI Global Min Vol Factor ETF	Morgan Stanley	1-Day FEDEF –  0.63%	​	7/05/2023	Monthly	​	​	(4,708,551)	​	​	—
iShares MSCI Japan ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(186,113)	​	​	—
iShares MSCI Japan ETF	Morgan Stanley	1-Day FEDEF –  0.88%	​	7/05/2023	Monthly	​	​	(418,166)	​	​	—
iShares MSCI USA Momentum Factor ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	125,346	​	​	—
iShares MSCI USA Momentum Factor ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	282,435	​	​	—

See notes to financial statements.

17​

Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)

October 31, 2022 (unaudited)

Total Return Swap contracts outstanding at October 31, 2022: (continued)
Total Return Benchmark	Counterparty	Floating Rate(e)	Expiration Date		Payment Frequency	Notional Amount Long/​ (Short)			Value/​ Unrealized Appreciation/​ (Depreciation)(f)
iShares MSCI USA Quality Factor ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	$	49,752	​	$	—
iShares MSCI USA Quality Factor ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	111,997	​	​	—
iShares Preferred & Income Securities ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	199,871	​	​	—
iShares Preferred & Income Securities ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	450,236	​	​	—
iShares Russell 2000 Growth ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	63,127	​	​	—
iShares Russell 2000 Growth ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	142,318	​	​	—
iShares Russell 2000 Value ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(86,029)	​	​	—
iShares Russell 2000 Value ETF	Morgan Stanley	1-Day FEDEF –  0.35%	​	7/05/2023	Monthly	​	​	(193,276)	​	​	—
iShares S&P Small-Cap 600 Value ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(47,915)	​	​	—
iShares S&P Small-Cap 600 Value ETF	Morgan Stanley	1-Day FEDEF –  2.08%	​	7/05/2023	Monthly	​	​	(107,619)	​	​	—
iShares Short Treasury Bond ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	279,104	​	​	—
iShares Short Treasury Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	628,808	​	​	—
iShares Silver Trust	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	171,002	​	​	—
iShares Silver Trust	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	385,208	​	​	—
iShares TIPS Bond ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(1,320,406)	​	​	—
iShares TIPS Bond ETF	Morgan Stanley	1-Day FEDEF –  0.35%	​	7/05/2023	Monthly	​	​	(2,966,898)	​	​	—
iShares Trust iShares 1-5 Year Investment Grade Corporate Bond ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	868,853	​	​	—
iShares Trust iShares 1-5 Year Investment Grade Corporate Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	1,957,151	​	​	—
iShares U.S. Industrials ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(22,403)	​	​	—
iShares U.S. Industrials ETF	Morgan Stanley	1-Day FEDEF –  6.53%	​	7/05/2023	Monthly	​	​	(50,265)	​	​	—
JPMorgan BetaBuilders Europe ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	32,410	​	​	—
JPMorgan BetaBuilders Europe ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	73,020	​	​	—
JPMorgan BetaBuilders Japan ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(138,711)	​	​	—
JPMorgan BetaBuilders Japan ETF	Morgan Stanley	1-Day FEDEF –  10.63%	​	7/05/2023	Monthly	​	​	(311,681)	​	​	—
Schwab Emerging Markets Equity ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	27,001	​	​	—
Schwab Emerging Markets Equity ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	60,849	​	​	—
Schwab Intermediate-Term U.S. Treasury ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	245,396	​	​	—
Schwab Intermediate-Term U.S. Treasury ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	552,761	​	​	—
Schwab International Small-Cap Equity ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(103,787)	​	​	—
Schwab International Small-Cap Equity ETF	Morgan Stanley	1-Day FEDEF –  6.28%	​	7/05/2023	Monthly	​	​	(233,220)	​	​	—
Schwab U.S. Large-Cap Growth ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	58,815	​	​	—
Schwab U.S. Large-Cap Growth ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	132,493	​	​	—
Schwab U.S. TIPS ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(705,967)	​	​	—
Schwab U.S. TIPS ETF	Morgan Stanley	1-Day FEDEF –  0.78%	​	7/05/2023	Monthly	​	​	(1,586,322)	​	​	—

See notes to financial statements.

18

Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)

October 31, 2022 (unaudited)

Total Return Swap contracts outstanding at October 31, 2022: (continued)
Total Return Benchmark	Counterparty	Floating Rate(e)	Expiration Date		Payment Frequency	Notional Amount Long/​ (Short)			Value/​ Unrealized Appreciation/​ (Depreciation)(f)
SPDR Blackstone Senior Loan ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	$	897,409	​	$	—
SPDR Blackstone Senior Loan ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	2,021,443	​	​	—
SPDR Bloomberg 1-3 Month T-Bill ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	224,762	​	​	—
SPDR Bloomberg 1-3 Month T-Bill ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	506,218	​	​	—
SPDR Bloomberg Barclays High Yield Bond ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	10,626	​	​	—
SPDR Bloomberg Barclays High Yield Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	23,953	​	​	—
SPDR Bloomberg Convertible Securities ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	1,190,431	​	​	—
SPDR Bloomberg Convertible Securities ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	2,681,578	​	​	—
SPDR Bloomberg Emerging Markets Local Bond ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	164,699	​	​	—
SPDR Bloomberg Emerging Markets Local Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	370,997	​	​	—
SPDR Bloomberg Investment Grade Floating Rate ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	153,055	​	​	—
SPDR Bloomberg Investment Grade Floating Rate ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	344,738	​	​	—
SPDR Bloomberg Short Term High Yield Bond ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(808,907)	​	​	—
SPDR Bloomberg Short Term High Yield Bond ETF	Morgan Stanley	1-Day FEDEF –  1.18%	​	7/05/2023	Monthly	​	​	(1,817,659)	​	​	—
SPDR Dow Jones International Real Estate ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(132,671)	​	​	—
SPDR Dow Jones International Real Estate ETF	Morgan Stanley	1-Day FEDEF –  2.83%	​	7/05/2023	Monthly	​	​	(298,094)	​	​	—
SPDR Gold MiniShares Trust	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	52,926	​	​	—
SPDR Gold MiniShares Trust	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	222,171	​	​	—
SPDR Portfolio Long Term Treasury ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(37,339)	​	​	—
SPDR Portfolio Long Term Treasury ETF	Morgan Stanley	1-Day FEDEF –  0.35%	​	7/05/2023	Monthly	​	​	(83,914)	​	​	—
SPDR Portfolio Mortgage Backed Bond ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	3,212	​	​	—
SPDR Portfolio Mortgage Backed Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	7,226	​	​	—
SPDR S&P 600 Small Cap Growth ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	14,818	​	​	—
SPDR S&P 600 Small Cap Growth ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	33,379	​	​	—
SPDR S&P China ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(15,387)	​	​	—
SPDR S&P China ETF	Morgan Stanley	1-Day FEDEF –  7.63%	​	7/05/2023	Monthly	​	​	(34,531)	​	​	—
SPDR S&P Emerging Markets SmallCap ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	349,229	​	​	—
SPDR S&P Emerging Markets SmallCap ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	786,677	​	​	—
SPDR S&P Global Natural Resources ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(268,805)	​	​	—
SPDR S&P Global Natural Resources ETF	Morgan Stanley	1-Day FEDEF –  1.18%	​	7/05/2023	Monthly	​	​	(603,950)	​	​	—
Technology Select Sector SPDR Fund	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(240,140)	​	​	—
Technology Select Sector SPDR Fund	Morgan Stanley	1-Day FEDEF –  0.15%	​	7/05/2023	Monthly	​	​	(539,739)	​	​	—
VanEck J.P. Morgan EM Local Currency Bond ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	221,184	​	​	—
VanEck J.P. Morgan EM Local Currency Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	498,225	​	​	—

See notes to financial statements.

19​

Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)

October 31, 2022 (unaudited)

Total Return Swap contracts outstanding at October 31, 2022: (continued)
Total Return Benchmark	Counterparty	Floating Rate(e)	Expiration Date		Payment Frequency	Notional Amount Long/​ (Short)			Value/​ Unrealized Appreciation/​ (Depreciation)(f)
Vanguard Consumer Discretionary ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	$	(74,611)	​	$	—
Vanguard Consumer Discretionary ETF	Morgan Stanley	1-Day FEDEF –  15.48%	​	7/05/2023	Monthly	​	​	(167,513)	​	​	—
Vanguard Emerging Markets Government Bond ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(322,663)	​	​	—
Vanguard Emerging Markets Government Bond ETF	Morgan Stanley	1-Day FEDEF –  2.08%	​	7/05/2023	Monthly	​	​	(725,047)	​	​	—
Vanguard Energy ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	38,550	​	​	—
Vanguard Energy ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	86,800	​	​	—
Vanguard Financials ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	45,246	​	​	—
Vanguard Financials ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	101,929	​	​	—
Vanguard FTSE All World ex-U.S. Small-Cap ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(228,691)	​	​	—
Vanguard FTSE All World ex-U.S. Small-Cap ETF	Morgan Stanley	1-Day FEDEF –  0.93%	​	7/05/2023	Monthly	​	​	(513,858)	​	​	—
Vanguard FTSE Developed Markets ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	249,085	​	​	—
Vanguard FTSE Developed Markets ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	561,116	​	​	—
Vanguard FTSE Emerging Markets ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	224,079	​	​	—
Vanguard FTSE Emerging Markets ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	504,702	​	​	—
Vanguard FTSE Europe ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	130,304	​	​	—
Vanguard FTSE Europe ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	293,535	​	​	—
Vanguard Global ex-U.S. Real Estate ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(960,965)	​	​	—
Vanguard Global ex-U.S. Real Estate ETF	Morgan Stanley	1-Day FEDEF –  0.88%	​	7/05/2023	Monthly	​	​	(2,159,330)	​	​	—
Vanguard Growth ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	297,803	​	​	—
Vanguard Growth ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	670,893	​	​	—
Vanguard Health Care ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	101,830	​	​	—
Vanguard Health Care ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	229,663	​	​	—
Vanguard Industrials ETF	Morgan Stanley	1-Day FEDEF –  3.88%	​	7/05/2023	Monthly	​	​	(329,882)	​	​	—
Vanguard Information Technology ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(103,022)	​	​	—
Vanguard Information Technology ETF	Morgan Stanley	1-Day FEDEF –  1.28%	​	7/05/2023	Monthly	​	​	(231,140)	​	​	—
Vanguard Intermediate-Term Corporate Bond ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	41,563	​	​	—
Vanguard Intermediate-Term Corporate Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	93,649	​	​	—
Vanguard Intermediate-Term Treasury ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	363,615	​	​	—
Vanguard Intermediate-Term Treasury ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	819,000	​	​	—
Vanguard Long-Term Treasury ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(24,284)	​	​	—
Vanguard Long-Term Treasury ETF	Morgan Stanley	1-Day FEDEF –  1.73%	​	7/05/2023	Monthly	​	​	(54,580)	​	​	—
Vanguard Mega Cap Growth ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	44,499	​	​	—
Vanguard Mega Cap Growth ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	100,394	​	​	—

See notes to financial statements.

20

Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)

October 31, 2022 (unaudited)

Total Return Swap contracts outstanding at October 31, 2022: (continued)
Total Return Benchmark	Counterparty	Floating Rate(e)	Expiration Date		Payment Frequency	Notional Amount Long/​ (Short)			Value/​ Unrealized Appreciation/​ (Depreciation)(f)
Vanguard Mortgage-Backed Securities ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	$	11,753	​	$	—
Vanguard Mortgage-Backed Securities ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	26,477	​	​	—
Vanguard Real Estate ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	43,233	​	​	—
Vanguard Real Estate ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	97,336	​	​	—
Vanguard Russell 1000 Growth ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	35,158	​	​	—
Vanguard Russell 1000 Growth ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	79,191	​	​	—
Vanguard Short-Term Corporate Bond ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	1,711,759	​	​	—
Vanguard Short-Term Corporate Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	3,855,915	​	​	—
Vanguard Small-Cap Growth ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	81,664	​	​	—
Vanguard Small-Cap Growth ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	183,797	​	​	—
Vanguard Small-Cap Value ETF	Merrill Lynch	1-Day FEDEF	​	2/28/2023	Monthly	​	​	(163,340)	​	​	—
Vanguard Small-Cap Value ETF	Morgan Stanley	1-Day FEDEF –  1.08%	​	7/05/2023	Monthly	​	​	(366,994)	​	​	—
Xtrackers USD High Yield Corporate Bond ETF	Merrill Lynch	1-Day FEDEF + 0.50%	​	2/28/2023	Monthly	​	​	6,875	​	​	—
Xtrackers USD High Yield Corporate Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	15,502	​	​	—
​	​	​	​	​	​	​	​	​	​	$	—

Cash posted has been segregated as collateral for swaps in the amount of  $1,411,444 at October 31, 2022.

(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, 2022.

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, 2022. 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 Vehicles

​

$

41,626,655

​

$

—

​

$

—

​

$

41,626,655

Investment Companies

​

​

607,309,762

​

​

—

​

​

—

​

​

607,309,762

Short-Term Investment:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Fund

​

​

139,268,137

​

​

—

​

​

—

​

​

139,268,137

Total Investments in Securities

​

​

788,204,554

​

​

—

​

​

—

​

​

788,204,554

Other Financial Instruments:(h)

​

​

​

​

​

​

​

​

​

​

​

​

Swap Contracts

​

​

—

​

​

—

​

​

—

​

​

—

Total Investments in Securities and Other Financial Instruments

​

$

788,204,554

​

$

—

​

$

—

​

$

788,204,554

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, 2022, 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.

21​

Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)

October 31, 2022 (unaudited)

A summary of the Fund’s transactions with any affiliated fund during the period ended October 31, 2022 is as follows:

Affiliated Holdings

​

Shares at 04/30/2022

Value ($) at 04/30/2022

Purchases Cost ($)

Sales Proceeds ($)

Net Realized Gain/(Loss) ($)

Net Change in Unrealized Appreciation/​ (Depreciation) ($)

Income Distributions ($)

Capital Gain Distributions ($)

Shares at 10/31/2022

Value ($) at 10/31/2022

IQ Ultra Short Duration ETF

​

1,296,301

​

62,196,522

​

24,158,490

​

(54,612,382)

​

(1,788,699)

​

714,472

​

681,468

​

—

​

649,892

​

30,668,403

For more information on the determination, please refer to Note 6.

See notes to financial statements.

22

Schedule of Investments — IQ Hedge Macro Tracker ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Exchange Traded Vehicles — 8.5%
Gold Funds — 3.9%
abrdn Gold ETF Trust*	​	413	​	$	6,455
Graniteshares Gold Trust*	​	148	​	​	2,393
iShares Gold Trust*	​	2,384	​	​	73,856
SPDR Gold MiniShares Trust*	​	411	​	​	13,321
Total Gold Funds	​	​	​	​	96,025
Silver Funds — 1.9%
abrdn Silver ETF Trust*	​	229	​	​	4,216
iShares Silver Trust*(a)	​	2,442	​	​	43,028
Total Silver Funds	​	​	​	​	47,244
U.S. Dollar Fund — 2.7%
Invesco DB U.S. Dollar Index Bullish Fund*	​	2,190	​	​	65,766
Total Exchange Traded Vehicles	​		​
(Cost $216,153)	​	​	​	​	209,035
Investment Companies — 91.3%
Convertible Bond Funds — 12.7%
iShares Convertible Bond ETF	​	1,344	​	​	94,846
SPDR Bloomberg Convertible Securities ETF	​	3,368	​	​	219,223
Total Convertible Bond Funds	​	​	​	​	314,069
Emerging Bonds — Local Currency Funds — 4.9%
SPDR Bloomberg Emerging Markets Local Bond ETF	​	2,753	​	​	51,866
VanEck J.P. Morgan EM Local Currency Bond ETF	​	3,074	​	​	69,657
Total Emerging Bonds — Local Currency Funds	​	​	​	​	121,523
Emerging Equity Funds — 15.0%
iShares Core MSCI Emerging Markets ETF	​	1,621	​	​	68,649
iShares MSCI Emerging Markets Min Vol Factor ETF	​	4,319	​	​	216,770
Schwab Emerging Markets Equity ETF	​	419	​	​	9,080
Vanguard FTSE Emerging Markets ETF	​	2,126	​	​	75,367
Total Emerging Equity Funds	​	​	​	​	369,866
Emerging Small Cap Equity Fund — 2.7%
SPDR S&P Emerging Markets SmallCap ETF	​	1,449	​	​	65,958
Europe Equity Funds — 2.0%
iShares Core MSCI Europe ETF	​	187	​	​	8,021
JPMorgan BetaBuilders Europe ETF	​	187	​	​	8,157
Vanguard FTSE Europe ETF(a)	​	655	​	​	32,776
Total Europe Equity Funds	​	​	​	​	48,954
Floating Rate — Investment Grade Funds — 4.9%
iShares Floating Rate Bond ETF	​	1,808	​	​	90,834
SPDR Bloomberg Investment Grade Floating Rate ETF	​	1,037	​	​	31,442
Total Floating Rate — Investment Grade Funds	​	​	​	​	122,276

​	Shares		Value
Investment Companies (continued)
High Yield Corporate Bond Funds — 2.5%
iShares iBoxx High Yield Corporate Bond ETF(a)	​	488	​	$	35,834
SPDR Bloomberg High Yield Bond ETF(a)	​	169	​	​	15,218
Xtrackers USD High Yield Corporate Bond ETF	​	293	​	​	9,874
Total High Yield Corporate Bond Funds	​	​	​	​	60,926
Investment Grade Corporate Bond Funds — 7.9%
iShares Trust iShares 1-5 Year Investment Grade Corporate Bond ETF	​	1,336	​	​	65,544
Vanguard Short-Term Corporate Bond ETF	​	1,745	​	​	129,113
Total Investment Grade Corporate Bond Funds	​	​	​	​	194,657
U.S. Large Cap Core Funds — 1.9%
Energy Select Sector SPDR Fund	​	438	​	​	39,420
Vanguard Energy ETF	​	65	​	​	8,189
Total U.S. Large Cap Core Funds	​	​	​	​	47,609
U.S. Large Cap Growth Funds — 3.0%
Schwab U.S. Large-Cap Growth ETF	​	170	​	​	9,909
Vanguard Growth ETF	​	225	​	​	50,117
Vanguard Mega Cap Growth ETF	​	42	​	​	7,597
Vanguard Russell 1000 Growth ETF	​	103	​	​	5,898
Total U.S. Large Cap Growth Funds	​	​	​	​	73,521
U.S. Medium Term Treasury Bond Funds — 7.8%
iShares 3-7 Year Treasury Bond ETF	​	642	​	​	72,893
Schwab Intermediate-Term U.S. Treasury ETF	​	1,002	​	​	48,777
Vanguard Intermediate-Term Treasury ETF	​	1,250	​	​	72,238
Total U.S. Medium Term Treasury Bond Funds	​	​	​	​	193,908
U.S. Ultra Short Term Bond Funds — 26.0%
Goldman Sachs Access Treasury 0-1 Year ETF	​	941	​	​	93,921
Invesco Treasury Collateral ETF	​	1,159	​	​	122,008
IQ Ultra Short Duration ETF†	​	5,173	​	​	244,114
iShares Short Treasury Bond ETF	​	917	​	​	100,842
SPDR Bloomberg 1-3 Month T-Bill ETF	​	886	​	​	81,149
Total U.S. Ultra Short Term Bond Funds	​	​	​	​	642,034
Total Investment Companies	​		​
(Cost $2,368,636)	​	​	​	​	2,255,301
Short-Term Investments — 4.7%
Money Market Funds — 4.7%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.91%(b)(c)	​	111,315	​	​	111,315
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 3.09%(b)	​	5,290	​	​	5,290
Total Short-Term Investments	​		​
(Cost $116,605)	​	​	​	​	116,605

See notes to financial statements.

23​

Schedule of Investments — IQ Hedge Macro Tracker ETF (continued)

October 31, 2022 (unaudited)

​	Shares	Value
Total Investments — 104.5%
(Cost $2,701,394)	​	​	$	2,580,941
Other Assets and Liabilities, Net — (4.5)%	​	​	​	(111,449)
Net Assets — 100.0%	​	​	$	2,469,492

*

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 $107,494; total market value of collateral held by the Fund was $111,315.

(b)

Reflects the 1-day yield at October 31, 2022.

(c)

Represents security purchased with cash collateral received for securities on loan.

Total Return Swap contracts outstanding at October 31, 2022:
Total Return Benchmark	Counterparty	Floating Rate(d)	Expiration Date		Payment Frequency	Notional Amount Long/​ (Short)			Value/​ Unrealized Appreciation/​ (Depreciation)(e)
abrdn Gold ETF Trust	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	$	656	​	$	—
abrdn Silver ETF Trust	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	423	​	​	—
Energy Select Sector SPDR Fund	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	3,960	​	​	—
FlexShares Global Upstream Natural Resources Index Fund	Morgan Stanley	1-Day FEDEF –  0.35%	​	5/02/2023	Monthly	​	​	(30,368)	​	​	—
Goldman Sachs Access Treasury 0-1 Year ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	9,482	​	​	—
Graniteshares Gold Trust	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	243	​	​	—
Invesco DB U.S. Dollar Index Bullish Fund	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	6,637	​	​	—
Invesco Treasury Collateral ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	12,317	​	​	—
IQ Ultra Short Duration ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	24,633	​	​	—
iShares 20+ Year Treasury Bond ETF	Morgan Stanley	1-Day FEDEF –  0.35%	​	5/02/2023	Monthly	​	​	(7,497)	​	​	—
iShares 3-7 Year Treasury Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	7,380	​	​	—
iShares Broad USD Investment Grade Corporate Bond ETF	Morgan Stanley	1-Day FEDEF –  3.08%	​	5/02/2023	Monthly	​	​	(4,127)	​	​	—
iShares Convertible Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	9,527	​	​	—
iShares Core MSCI Emerging Markets ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	6,903	​	​	—
iShares Core MSCI Europe ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	815	​	​	—
iShares Floating Rate Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	9,144	​	​	—
iShares Gold Trust	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	7,435	​	​	—
iShares iBoxx $ Investment Grade Corporate Bond ETF	Morgan Stanley	1-Day FEDEF –  0.35%	​	5/02/2023	Monthly	​	​	(19,865)	​	​	—
iShares iBoxx High Yield Corporate Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	3,598	​	​	—
iShares JP Morgan USD Emerging Markets Bond ETF	Morgan Stanley	1-Day FEDEF –  0.35%	​	5/02/2023	Monthly	​	​	(54,125)	​	​	—
iShares MSCI China ETF	Morgan Stanley	1-Day FEDEF –  0.68%	​	5/02/2023	Monthly	​	​	(4,732)	​	​	—
iShares MSCI Emerging Markets Min Vol Factor ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	21,833	​	​	—
iShares MSCI Japan ETF	Morgan Stanley	1-Day FEDEF –  0.88%	​	5/02/2023	Monthly	​	​	(8,048)	​	​	—
iShares Short Treasury Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	10,117	​	​	—
iShares Silver Trust	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	4,335	​	​	—
iShares Trust iShares 1-5 Year Investment Grade Corporate Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	6,623	​	​	—

See notes to financial statements.

24

Schedule of Investments — IQ Hedge Macro Tracker ETF (continued)

October 31, 2022 (unaudited)

Total Return Swap contracts outstanding at October 31, 2022: (continued)
Total Return Benchmark	Counterparty	Floating Rate(d)	Expiration Date		Payment Frequency	Notional Amount Long/​ (Short)			Value/​ Unrealized Appreciation/​ (Depreciation)(e)
JPMorgan BetaBuilders Europe ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	$	829	​	$	—
JPMorgan BetaBuilders Japan ETF	Morgan Stanley	1-Day FEDEF –  10.63%	​	5/02/2023	Monthly	​	​	(6,009)	​	​	—
Schwab Emerging Markets Equity ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	910	​	​	—
Schwab Intermediate-Term U.S. Treasury ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	4,917	​	​	—
Schwab U.S. Large-Cap Growth ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	991	​	​	—
SPDR Bloomberg 1-3 Month T-Bill ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	8,152	​	​	—
SPDR Bloomberg Convertible Securities ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	22,131	​	​	—
SPDR Bloomberg Emerging Markets Local Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	5,238	​	​	—
SPDR Bloomberg High Yield Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	1,531	​	​	—
SPDR Bloomberg Investment Grade Floating Rate ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	3,184	​	​	—
SPDR Dow Jones International Real Estate ETF	Morgan Stanley	1-Day FEDEF –  2.83%	​	5/02/2023	Monthly	​	​	(7,191)	​	​	—
SPDR Gold MiniShares Trust	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	1,329	​	​	—
SPDR Portfolio Long Term Treasury ETF	Morgan Stanley	1-Day FEDEF –  0.35%	​	5/02/2023	Monthly	​	​	(1,623)	​	​	—
SPDR S&P China ETF	Morgan Stanley	1-Day FEDEF –  7.63%	​	5/02/2023	Monthly	​	​	(848)	​	​	—
SPDR S&P Emerging Markets SmallCap ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	6,646	​	​	—
SPDR S&P Global Natural Resources ETF	Morgan Stanley	1-Day FEDEF –  1.18%	​	5/02/2023	Monthly	​	​	(14,571)	​	​	—
VanEck J.P. Morgan EM Local Currency Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	7,025	​	​	—
Vanguard Emerging Markets Government Bond ETF	Morgan Stanley	1-Day FEDEF –  2.08%	​	5/02/2023	Monthly	​	​	(10,473)	​	​	—
Vanguard Energy ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	882	​	​	—
Vanguard FTSE Emerging Markets ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	7,586	​	​	—
Vanguard FTSE Europe ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	3,303	​	​	—
Vanguard Global ex-U.S. Real Estate ETF	Morgan Stanley	1-Day FEDEF –  0.88%	​	5/02/2023	Monthly	​	​	(52,033)	​	​	—
Vanguard Growth ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	5,123	​	​	—
Vanguard Intermediate-Term Corporate Bond ETF	Morgan Stanley	1-Day FEDEF –  0.73%	​	5/02/2023	Monthly	​	​	(23,751)	​	​	—
Vanguard Intermediate-Term Treasury ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	7,282	​	​	—
Vanguard Long-Term Treasury ETF	Morgan Stanley	1-Day FEDEF –  1.73%	​	5/02/2023	Monthly	​	​	(1,071)	​	​	—
Vanguard Mega Cap Growth ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	724	​	​	—
Vanguard Russell 1000 Growth ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	573	​	​	—
Vanguard Short-Term Corporate Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	13,022	​	​	—
Xtrackers USD High Yield Corporate Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	7/05/2023	Monthly	​	​	1,011	​	​	—
​	​	​	​	​	​	​	​	​	​	$	—

See notes to financial statements.

25​

Schedule of Investments — IQ Hedge Macro Tracker ETF (continued)

October 31, 2022 (unaudited)

Total Return Swap contracts outstanding at October 31, 2022: (continued)

At October 31, 2022 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, 2022.

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, 2022. 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

​

$

209,035

​

$

—

​

$

—

​

$

209,035

Investment Companies

​

​

2,255,301

​

​

—

​

​

—

​

​

2,255,301

Short-Term Investments:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Funds

​

​

116,605

​

​

—

​

​

—

​

​

116,605

Total Investments in Securities

​

​

2,580,941

​

​

—

​

​

—

​

​

2,580,941

Other Financial Instruments:(g)

​

​

​

​

​

​

​

​

​

​

​

​

Swap Contracts

​

​

—

​

​

—

​

​

—

​

​

—

Total Investments in Securities and Other Financial Instruments

​

$

2,580,941

​

$

—

​

$

—

​

$

2,580,941

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, 2022, the Fund did not have any transfers between any levels within the fair value hierarchy. (See Note 2)

A summary of the Fund’s transactions with any affiliated fund during the period ended October 31, 2022 is as follows:

Affiliated Holdings

​

Shares at 04/30/2022

Value ($) at 04/30/2022

Purchases Cost ($)

Sales Proceeds ($)

Net Realized Gain/(Loss) ($)

Net Change in Unrealized Appreciation/​ (Depreciation) ($)

Income Distributions ($)

Capital Gain Distributions ($)

Shares at 10/31/2022

Value ($) at 10/31/2022

IQ Ultra Short Duration ETF

​

19,126

​

917,665

​

55,037

​

(717,154)

​

(21,368)

​

9,934

​

6,853

​

—

​

5,173

​

244,114

For more information on the determination, please refer to Note 6.

See notes to financial statements.

26

Schedule of Investments — IQ Hedge Market Neutral Tracker ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Exchange Traded Note — 0.4%
Volatility Note — 0.4%
iPath Series B S&P 500 VIX Short-Term Futures ETN*(a)	​	​	​	​	​
(Cost $35,164)	​	1,416	​	$	25,007
Exchange Traded Vehicle — 2.8%
U.S. Dollar Fund — 2.8%
Invesco DB U.S. Dollar Index Bullish Fund*	​	​	​	​	​
(Cost $167,042)	​	5,977	​	​	179,489
Investment Companies — 96.6%
Bank Loan Funds — 18.3%
Invesco Senior Loan ETF	​	17,394	​	​	360,404
SPDR Blackstone Senior Loan ETF(a)	​	18,962	​	​	783,889
Total Bank Loan Funds	​	​	​	​	1,144,293
Convertible Bond Funds — 3.3%
iShares Convertible Bond ETF	​	893	​	​	63,019
SPDR Bloomberg Convertible Securities ETF	​	2,239	​	​	145,737
Total Convertible Bond Funds	​	​	​	​	208,756
Emerging Bonds — Local Currency Funds — 0.0%(b)
SPDR Bloomberg Emerging Markets Local Bond ETF	​	2	​	​	38
VanEck J. P. Morgan EM Local Currency Bond ETF	​	3	​	​	68
Total Emerging Bonds — Local Currency Funds	​	​	​	​	106
Floating Rate — Investment Grade Funds — 18.1%
iShares Floating Rate Bond ETF	​	16,648	​	​	836,395
SPDR Bloomberg Investment Grade Floating Rate ETF	​	9,549	​	​	289,526
Total Floating Rate — Investment Grade Funds	​	​	​	​	1,125,921
High Yield Corporate Bond Funds — 6.2%
iShares 0-5 Year High Yield Corporate Bond ETF(a)	​	5,674	​	​	231,783
SPDR Bloomberg Short Term High Yield Bond ETF	​	6,259	​	​	151,781
Total High Yield Corporate Bond Funds	​	​	​	​	383,564
Mortgage Backed Securities Funds — 2.8%
iShares MBS ETF(a)	​	1,034	​	​	93,412
SPDR Portfolio Mortgage Backed Bond ETF	​	827	​	​	17,474
Vanguard Mortgage-Backed Securities ETF	​	1,443	​	​	63,997
Total Mortgage Backed Securities Funds	​	​	​	​	174,883
Treasury Inflation Protected Securities — 6.1%
iShares TIPS Bond ETF	​	2,328	​	​	247,676
Schwab US TIPS ETF	​	2,533	​	​	132,450
Total Treasury Inflation Protected Securities	​	​	​	​	380,126

​	Shares		Value
Investment Companies (continued)
U.S. Low Volatility Fund — 6.3%
iShares MSCI Global Min Vol Factor ETF(a)	​	4,239	​	$	393,082
U.S. Medium Term Treasury Bond Funds — 17.9%
iShares 3-7 Year Treasury Bond ETF	​	3,698	​	​	419,871
Schwab Intermediate-Term U.S. Treasury ETF	​	5,771	​	​	280,932
Vanguard Intermediate-Term Treasury ETF	​	7,203	​	​	416,262
Total U.S. Medium Term Treasury Bond Funds	​	​	​	​	1,117,065
U.S. Preferred Fund — 6.0%
Invesco Variable Rate Preferred ETF(a)	​	17,142	​	​	376,438
U.S. Ultra Short Term Bond Funds — 11.6%
Goldman Sachs Access Treasury 0-1 Year ETF	​	1,055	​	​	105,300
Invesco Treasury Collateral ETF	​	1,299	​	​	136,746
IQ Ultra Short Duration ETF†	​	5,797	​	​	273,560
iShares Short Treasury Bond ETF	​	1,028	​	​	113,049
SPDR Bloomberg 1-3 Month T-Bill ETF	​	992	​	​	90,857
Total U.S. Ultra Short Term Bond Funds	​	​	​	​	719,512
Total Investment Companies	​	​	​	​	​
(Cost $6,460,883)	​	​	​	​	6,023,746
Short-Term Investments — 27.6%
Money Market Funds — 27.6%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.91%(c)(d)	​	1,704,172	​	​	1,704,172
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 3.09%(c)	​	15,027	​	​	15,027
Total Short-Term Investments	​	​	​	​	​
(Cost $1,719,199)	​	​	​	​	1,719,199
Total Investments — 127.4%	​	​	​	​	​
(Cost $8,382,288)	​	​	​	​	7,947,441
Other Assets and Liabilities, Net — (27.4)%	​	​	​	​	(1,707,775)
Net Assets — 100.0%	​	​	​	$	6,239,666

*

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 $1,657,177; total market value of collateral held by the Fund was $1,704,172.

(b)

Less than 0.05%.

(c)

Reflects the 1-day yield at October 31, 2022.

(d)

Represents security purchased with cash collateral received for securities on loan.

Abbreviations

ETN — Exchange Traded Note

TIPS — Treasury Inflation Protected Security

See notes to financial statements.

27​

Schedule of Investments — IQ Hedge Market Neutral Tracker ETF (continued)

October 31, 2022 (unaudited)

Total Return Swap contracts outstanding at October 31, 2022:

Total Return Benchmark

Counterparty

Floating Rate(e)

Expiration Date

Payment Frequency

Notional Amount Long/​ (Short)

Value/​ Unrealized Appreciation/​ (Depreciation)(f)

Goldman Sachs Access Treasury 0-1 Year ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

$

3,394

​

$

—

Invesco DB U.S. Dollar Index Bullish Fund

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

5,826

​

​

—

Invesco Senior Loan ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

11,707

​

​

—

Invesco Treasury Collateral ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

4,421

​

​

—

Invesco Variable Rate Preferred ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

12,210

​

​

—

iPath Series B S&P 500 VIX Short-Term Futures ETN

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

812

​

​

—

IQ Ultra Short Duration ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

8,872

​

​

—

iShares 0-5 Year High Yield Corporate Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

7,516

​

​

—

iShares 3-7 Year Treasury Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

13,625

​

​

—

iShares Convertible Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

2,047

​

​

—

iShares Floating Rate Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

27,130

​

​

—

iShares MBS ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

3,072

​

​

—

iShares MSCI Global Min Vol Factor ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

12,797

​

​

—

iShares MSCI USA Quality Factor ETF

Morgan Stanley

1-Day FEDEF –  0.35%

​

5/02/2023

​

Monthly

​

​

(39,734)

​

​

—

iShares Short Treasury Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

3,629

​

​

—

iShares TIPS Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

8,086

​

​

—

Schwab Intermediate-Term U.S. Treasury ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

9,103

​

​

—

Schwab U.S. Large-Cap Growth ETF

Morgan Stanley

1-Day FEDEF –  3.36%

​

5/02/2023

​

Monthly

​

​

(21,800)

​

​

—

Schwab U.S. TIPS ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

4,288

​

​

—

SPDR Blackstone Senior Loan ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

25,424

​

​

—

SPDR Bloomberg 1-3 Month T-Bill ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

2,931

​

​

—

SPDR Bloomberg Convertible Securities ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

4,752

​

​

—

SPDR Bloomberg Investment Grade Floating Rate ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

9,399

​

​

—

SPDR Bloomberg Short Term High Yield Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

4,923

​

​

—

SPDR Portfolio Mortgage Backed Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

571

​

​

—

Vanguard Growth ETF

Morgan Stanley

1-Day FEDEF –  0.35%

​

5/02/2023

​

Monthly

​

​

(110,256)

​

​

—

Vanguard Intermediate-Term Treasury ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

13,523

​

​

—

Vanguard Mega Cap Growth ETF

Morgan Stanley

1-Day FEDEF –  2.54%

​

5/02/2023

​

Monthly

​

​

(16,461)

​

​

—

Vanguard Mortgage-Backed Securities ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

7/05/2023

​

Monthly

​

​

2,084

​

​

—

Vanguard Russell 1000 Growth ETF

Morgan Stanley

1-Day FEDEF –  1.02%

​

5/02/2023

​

Monthly

​

​

(13,055)

​

​

—

​

​

​

​

​

​

​

​

​

​

​

$

—

At October 31, 2022 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.

(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, 2022.

Abbreviation

FEDEF — Federal Funds Effective Rate

See notes to financial statements.

28

Schedule of Investments — IQ Hedge Market Neutral Tracker ETF (continued)

October 31, 2022 (unaudited)

The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2022. 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

​

$

25,007

​

$

—

​

$

—

​

$

25,007

Exchange Traded Vehicle

​

​

179,489

​

​

—

​

​

—

​

​

179,489

Investment Companies

​

​

6,023,746

​

​

—

​

​

—

​

​

6,023,746

Short-Term Investments:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Funds

​

​

1,719,199

​

​

—

​

​

—

​

​

1,719,199

Total Investments in Securities

​

​

7,947,441

​

​

—

​

​

—

​

​

7,947,441

Other Financial Instruments:(h)

​

​

​

​

​

​

​

​

​

​

​

​

Swap Contracts

​

​

—

​

​

—

​

​

—

​

​

—

Total Investments in Securities and Other Financial Instruments

​

$

7,947,441

​

$

—

​

$

—

​

$

7,947,441

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, 2022, 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 any affiliated fund during the period ended October 31, 2022 is as follows:

Affiliated Holdings

​

Shares at 04/30/2022

Value ($) at 04/30/2022

Purchases Cost ($)

Sales Proceeds ($)

Net Realized Gain/(Loss) ($)

Net Change in Unrealized Appreciation/​ (Depreciation) ($)

Income Distributions ($)

Capital Gain Distributions ($)

Shares at 10/31/2022

Value ($) at 10/31/2022

IQ Ultra Short Duration ETF

​

33,327

​

1,599,029

​

313,515

​

(1,624,635)

​

(24,377)

​

10,028

​

8,388

​

—

​

5,797

​

273,560

For more information on the determination, please refer to Note 6.

See notes to financial statements.

29​

Schedule of Investments — IQ Hedge Long/Short Tracker ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Exchange Traded Note — 1.0%
Volatility Note — 1.0%
iPath Series B S&P 500 VIX Short-Term Futures ETN*(a)	​	​	​	​	​
(Cost $223,436)	​	11,094	​	$	195,920
Investment Companies — 99.0%
Bank Loan Funds — 7.0%
Invesco Senior Loan ETF	​	21,476	​	​	444,982
SPDR Blackstone Senior Loan ETF(a)	​	23,411	​	​	967,811
Total Bank Loan Funds	​	​	​	​	1,412,793
International Equity Core Funds — 29.3%
iShares Core MSCI EAFE ETF	​	49,942	​	​	2,782,768
Vanguard FTSE Developed Markets ETF	​	80,614	​	​	3,109,282
Total International Equity Core Funds	​	​	​	​	5,892,050
International Large Cap Growth Fund — 3.2%
iShares MSCI EAFE Growth ETF	​	8,503	​	​	647,844
Investment Grade Corporate Bond Funds — 17.1%
iShares Broad USD Investment Grade Corporate Bond ETF	​	6,285	​	​	298,160
iShares iBoxx $ Investment Grade Corporate Bond ETF	​	14,133	​	​	1,432,380
Vanguard Intermediate-Term Corporate Bond ETF	​	22,807	​	​	1,714,174
Total Investment Grade Corporate Bond Funds	​	​	​	​	3,444,714
U.S. Large Cap Core Funds — 29.7%
Energy Select Sector SPDR Fund	​	4,136	​	​	372,240
Financial Select Sector SPDR Fund	​	56,689	​	​	1,926,292
Health Care Select Sector SPDR Fund	​	13,291	​	​	1,764,380
Vanguard Energy ETF	​	611	​	​	76,974
Vanguard Financials ETF	​	6,764	​	​	564,659
Vanguard Health Care ETF	​	5,235	​	​	1,272,262
Total U.S. Large Cap Core Funds	​	​	​	​	5,976,807
U.S. Momentum Fund — 7.8%
iShares MSCI USA Momentum Factor ETF	​	10,599	​	​	1,564,836
U.S. REITS Funds — 3.0%
Fidelity MSCI Real Estate Index ETF	​	953	​	​	23,587
iShares Core U.S. REIT ETF	​	590	​	​	29,370
Vanguard Real Estate ETF	​	6,500	​	​	539,370
Total U.S. REITS Funds	​	​	​	​	592,327

​	Shares		Value
Investment Companies (continued)
U.S. Ultra Short Term Bond Funds — 1.9%
Goldman Sachs Access Treasury 0-1 Year ETF	​	548	​	$	54,696
Invesco Treasury Collateral ETF	​	676	​	​	71,163
IQ Ultra Short Duration ETF†	​	3,014	​	​	142,231
iShares Short Treasury Bond ETF	​	534	​	​	58,724
SPDR Bloomberg 1-3 Month T-Bill ETF	​	516	​	​	47,260
Total U.S. Ultra Short Term Bond Funds	​	​	​	​	374,074
Total Investment Companies (Cost $22,557,357)	​	​	​	​	19,905,445
Short-Term Investments — 5.0%
Money Market Funds — 5.0%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.91%(b)(c)	​	975,683	​	​	975,683
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 3.09%(b)	​	28,719	​	​	28,719
Total Short-Term Investments (Cost $1,004,402)	​	​	​	​	1,004,402
Total Investments — 105.0% (Cost $23,785,195)	​	​	​	​	21,105,767
Other Assets and Liabilities, Net — (5.0)%	​	​	​	​	(1,009,400)
Net Assets — 100.0%	​	​	​	$	20,096,367

*

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 $950,418; total market value of collateral held by the Fund was $975,683.

(b)

Reflects the 1-day yield at October 31, 2022.

(c)

Represents security purchased with cash collateral received for securities on loan.

Total Return Swap contracts outstanding at October 31, 2022:

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 - 0.15%

​

���

12/04/2023

​

Monthly

​

$

(211,868)

​

$

—

Energy Select Sector SPDR Fund

Morgan Stanley

1-Day FEDEF + 0.50%

​

​

12/04/2023

​

Monthly

​

​

37,890

​

​

—

Fidelity MSCI Real Estate Index ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

​

12/04/2023

​

Monthly

​

​

2,401

​

​

—

Financial Select Sector SPDR Fund

Morgan Stanley

1-Day FEDEF + 0.50%

​

​

12/04/2023

​

Monthly

​

​

195,895

​

​

—

Goldman Sachs Access Treasury 0-1 Year ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

​

12/04/2023

​

Monthly

​

​

5,589

​

​

—

Health Care Select Sector SPDR Fund

Morgan Stanley

1-Day FEDEF + 0.50%

​

​

12/04/2023

​

Monthly

​

​

179,478

​

​

—

Industrial Select Sector SPDR Fund

Morgan Stanley

1-Day FEDEF - 0.15%

​

​

12/04/2023

​

Monthly

​

​

(226,912)

​

​

—

See notes to financial statements.

30

Schedule of Investments — IQ Hedge Long/Short Tracker ETF (continued)

October 31, 2022 (unaudited)

Total Return Swap contracts outstanding at October 31, 2022: (continued)

Total Return Benchmark

Counterparty

Floating Rate(d)

Expiration Date

Payment Frequency

Notional Amount Long/​ (Short)

​

Value/​ Unrealized Appreciation/​ (Depreciation)(e)

Invesco Senior Loan ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

$

45,252

​

​

$

—

Invesco Treasury Collateral ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

​

7,264

​

​

​

—

iPath Series B S&P 500 VIX Short-Term Futures ETN

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

​

19,920

​

​

​

—

IQ Ultra Short Duration ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

​

14,487

​

​

​

—

iShares Broad USD Investment Grade Corporate Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

​

30,314

​

​

​

—

iShares Core MSCI EAFE ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

​

283,002

��

​

​

—

iShares Core U.S. REIT ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

​

2,987

​

​

​

—

iShares iBoxx $ Investment Grade Corporate Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

​

145,640

​

​

​

—

iShares MSCI EAFE Growth ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

​

65,904

​

​

​

—

iShares MSCI USA Momentum Factor ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

​

159,156

​

​

​

—

iShares Russell 2000 Growth ETF

Morgan Stanley

1-Day FEDEF - 1.28%

​

12/04/2023

​

Monthly

​

​

(116,298)

​

​

​

—

iShares Russell 2000 Value ETF

Morgan Stanley

1-Day FEDEF - 0.35%

​

12/04/2023

​

Monthly

​

​

(88,500)

​

​

​

—

iShares S&P Small-Cap 600 Value ETF

Morgan Stanley

1-Day FEDEF - 3.66%

​

12/04/2023

​

Monthly

​

​

(49,235)

​

​

​

—

iShares Short Treasury Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

​

5,938

​

​

​

—

iShares U.S. Industrials ETF

Morgan Stanley

1-Day FEDEF - 6.53%

​

12/04/2023

​

Monthly

​

​

(19,108)

​

​

​

—

Schwab International Small-Cap Equity ETF

Morgan Stanley

1-Day FEDEF - 6.28%

​

12/04/2023

​

Monthly

​

​

(88,370)

​

​

​

—

Schwab U.S. Large-Cap Growth ETF

Morgan Stanley

1-Day FEDEF - 3.03%

​

12/04/2023

​

Monthly

​

​

(38,122)

​

​

​

—

SPDR Blackstone Senior Loan ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

​

98,431

​

​

​

—

SPDR Bloomberg 1-3 Month T-Bill ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

​

4,854

​

​

​

—

SPDR S&P 600 Small Cap Growth ETF

Morgan Stanley

1-Day FEDEF - 13.23%

​

12/04/2023

​

Monthly

​

​

(27,317)

​

​

​

—

Technology Select Sector SPDR Fund

Morgan Stanley

1-Day FEDEF - 0.09%

​

12/04/2023

​

Monthly

​

​

(204,464)

​

​

​

—

Vanguard Consumer Discretionary ETF

Morgan Stanley

1-Day FEDEF - 15.48%

​

12/04/2023

​

Monthly

​

​

(63,540)

​

​

​

—

Vanguard Energy ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

​

7,811

​

​

​

—

Vanguard Financials ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

​

57,434

​

​

​

—

Vanguard FTSE All World ex-U.S. Small-Cap ETF

Morgan Stanley

1-Day FEDEF - 0.93%

​

12/04/2023

​

Monthly

​

​

(194,729)

​

​

​

—

Vanguard FTSE Developed Markets ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

​

316,197

​

​

​

—

Vanguard Growth ETF

Morgan Stanley

1-Day FEDEF - 0.35%

​

12/04/2023

​

Monthly

​

​

(193,116)

​

​

​

—

Vanguard Health Care ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

​

129,292

​

​

​

—

Vanguard Industrials ETF

Morgan Stanley

1-Day FEDEF - 3.88%

​

12/04/2023

​

Monthly

​

​

(62,453)

​

​

​

—

Vanguard Information Technology ETF

Morgan Stanley

1-Day FEDEF - 1.28%

​

12/04/2023

​

Monthly

​

​

(87,503)

​

​

​

—

Vanguard Intermediate-Term Corporate Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

​

174,296

​

​

​

—

Vanguard Mega Cap Growth ETF

Morgan Stanley

1-Day FEDEF - 2.68%

​

12/04/2023

​

Monthly

​

​

(28,942)

​

​

​

—

Vanguard Real Estate ETF

Morgan Stanley

1-Day FEDEF + 0.50%

​

12/04/2023

​

Monthly

​

​

54,850

​

​

​

—

Vanguard Russell 1000 Growth ETF

Morgan Stanley

1-Day FEDEF - 0.68%

​

12/04/2023

​

Monthly

​

​

(22,789)

​

​

​

—

Vanguard Small-Cap Growth ETF

Morgan Stanley

1-Day FEDEF - 4.68%

​

12/04/2023

​

Monthly

​

​

(150,379)

​

​

​

—

Vanguard Small-Cap Value ETF

Morgan Stanley

1-Day FEDEF - 1.08%

​

12/04/2023

​

Monthly

​

​

(167,998)

​

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

$

—

At October 31, 2022 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, 2022.

Abbreviation

FEDEF — Federal Funds Effective Rate

See notes to financial statements.

31​

Schedule of Investments — IQ Hedge Long/Short Tracker ETF (continued)

October 31, 2022 (unaudited)

The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2022. 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

​

$

195,920

​

$

—

​

$

—

​

$

195,920

Investment Companies

​

​

19,905,445

​

​

—

​

​

—

​

​

19,905,445

Short-Term Investments:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Funds

​

​

1,004,402

​

​

—

​

​

—

​

​

1,004,402

Total Investments in Securities

​

​

21,105,767

​

​

—

​

​

—

​

​

21,105,767

Other Financial Instruments:(g)

​

​

​

​

​

​

​

​

​

​

​

​

Swap Contracts

​

​

—

​

​

—

​

​

—

​

​

—

Total Investments in Securities and Other Financial Instruments

​

$

21,105,767

​

$

—

​

$

—

​

$

21,105,767

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, 2022, 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 any affiliated fund during the period ended October 31, 2022 is as follows:

Affiliated Holdings

​

Shares at 04/30/2022

Value ($) at 04/30/2022

Purchases Cost ($)

Sales Proceeds ($)

Net Realized Gain/(Loss) ($)

Net Change in Unrealized Appreciation/​ (Depreciation) ($)

Income Distributions ($)

Capital Gain Distributions ($)

Shares at 10/31/2022

Value ($) at 10/31/2022

IQ Ultra Short Duration ETF

​

5,260

​

252,375

​

24,889

​

(131,627)

​

(2,068)

​

(1,338)

​

2,395

​

—

​

3,014

​

142,231

For more information on the determination, please refer to Note 6.

See notes to financial statements.

32

Schedule of Investments — IQ Hedge Event-Driven Tracker ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Investment Companies — 99.8%
Bank Loan Funds — 23.9%
Invesco Senior Loan ETF	​	22,468	​	$	465,537
SPDR Blackstone Senior Loan ETF(a)	​	24,491	​	​	1,012,458
Total Bank Loan Funds	​	​	​	​	1,477,995
Convertible Bond Funds — 22.0%
iShares Convertible Bond ETF	​	5,806	​	​	409,729
SPDR Bloomberg Convertible Securities ETF	​	14,555	​	​	947,385
Total Convertible Bond Funds	​	​	​	​	1,357,114
Investment Grade Corporate Bond Funds — 43.8%
iShares Trust iShares 1-5 Year Investment Grade Corporate Bond ETF	​	18,578	​	​	911,437
Vanguard Short-Term Corporate Bond ETF	​	24,270	​	​	1,795,737
Total Investment Grade Corporate Bond Funds	​	​	​	​	2,707,174
U.S. Preferred Fund — 4.8%
iShares Preferred & Income Securities ETF(a)	​	9,814	​	​	299,425
U.S. Small Cap Growth Funds — 5.3%
iShares Russell 2000 Growth ETF	​	576	​	​	130,326
SPDR S&P 600 Small Cap Growth ETF	​	409	​	​	30,610
Vanguard Small-Cap Growth ETF	​	807	​	​	168,550
Total U.S. Small Cap Growth Funds	​	​	​	​	329,486
U.S. Ultra Short Term Bond Funds — 0.0%(b)
Goldman Sachs Access Treasury 0-1 Year ETF	​	5	​	​	499
Invesco Treasury Collateral ETF	​	6	​	​	632
IQ Ultra Short Duration ETF†	​	28	​	​	1,322
iShares Short Treasury Bond ETF	​	5	​	​	550
SPDR Bloomberg 1-3 Month T-Bill ETF	​	5	​	​	457
Total U.S. Ultra Short Term Bond Funds	​	​	​	​	3,460
Total Investment Companies (Cost $6,841,557)	​	​	​	​	6,174,654

​	Shares		Value
Short-Term Investments — 17.2%
Money Market Funds — 17.2%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.91%(c)(d)	​	1,052,769	​	$	1,052,769
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 3.09%(c)	​	13,335	​	​	13,335
Total Short-Term Investments (Cost $1,066,104)	​	​	​	​	1,066,104
Total Investments — 117.0% (Cost $7,907,661)	​	​	​	​	7,240,758
Other Assets and Liabilities, Net — (17.0)%	​	​	​	​	(1,055,323)
Net Assets — 100.0%	​	​	​	$	6,185,435

†

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 $1,023,962; total market value of collateral held by the Fund was $1,052,769.

(b)

Less than 0.05%.

(c)

Reflects the 1-day yield at October 31, 2022.

(d)

Represents security purchased with cash collateral received for securities on loan.

Total Return Swap contracts outstanding at October 31, 2022:
Total Return Benchmark	Counterparty	Floating Rate(e)	Expiration Date		Payment Frequency	Notional Amount Long/​ (Short)			Value/​ Unrealized Appreciation/​ (Depreciation)(f)
Invesco Senior Loan ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	12/06/2023	Monthly	​	$	13,965	​	$	—
IQ Ultra Short Duration ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	12/06/2023	Monthly	​	​	47	​	​	—
iShares Convertible Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	12/06/2023	Monthly	​	​	12,279	​	​	—
iShares iBoxx High Yield Corporate Bond ETF	Morgan Stanley	1-Day FEDEF - 3.28%	​	12/06/2023	Monthly	​	​	(110,732)	​	​	—
iShares Preferred & Income Securities ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	12/06/2023	Monthly	​	​	9,000	​	​	—
iShares Russell 2000 Growth ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	12/06/2023	Monthly	​	​	3,846	​	​	—
iShares Trust iShares 1-5 Year Investment Grade Corporate Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	12/06/2023	Monthly	​	​	27,375	​	​	—
SPDR Blackstone Senior Loan ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	12/06/2023	Monthly	​	​	30,385	​	​	—
SPDR Bloomberg Convertible Securities ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	12/06/2023	Monthly	​	​	28,444	​	​	—
SPDR Bloomberg High Yield Bond ETF	Morgan Stanley	1-Day FEDEF - 3.08%	​	12/06/2023	Monthly	​	​	(47,186)	​	​	—

See notes to financial statements.

33​

Schedule of Investments — IQ Hedge Event-Driven Tracker ETF (continued)

October 31, 2022 (unaudited)

Total Return Swap contracts outstanding at October 31, 2022: (continued)
Total Return Benchmark	Counterparty	Floating Rate(e)	Expiration Date		Payment Frequency	Notional Amount Long/​ (Short)			Value/​ Unrealized Appreciation/​ (Depreciation)(f)
SPDR S&P 600 Small Cap Growth ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	12/06/2023	Monthly	​	$	898	​	$	—
Vanguard Short-Term Corporate Bond ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	12/06/2023	Monthly	​	​	53,865	​	​	—
Vanguard Small-Cap Growth ETF	Morgan Stanley	1-Day FEDEF + 0.50%	​	12/06/2023	Monthly	​	​	5,013	​	​	—
Xtrackers USD High Yield Corporate Bond ETF	Morgan Stanley	1-Day FEDEF - 1.18%	​	12/06/2023	Monthly	​	​	(30,499)	​	​	—
​	​	​	​	​	​	​	​	​	​	$	—

At October 31, 2022 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.

(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, 2022.

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, 2022. 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)

​

​

​

​

​

​

​

​

​

​

​

​

Investment Companies

​

$

6,174,654

​

$

—

​

$

—

​

$

6,174,654

Short-Term Investments:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Funds

​

​

1,066,104

​

​

—

​

​

—

​

​

1,066,104

Total Investments in Securities

​

​

7,240,758

​

​

—

​

​

—

​

​

7,240,758

Other Financial Instruments:(h)

​

​

​

​

​

​

​

​

​

​

​

​

Swap Contracts

​

​

—

​

​

—

​

​

—

​

​

—

Total Investments in Securities and Other Financial Instruments

​

$

7,240,758

​

$

—

​

$

—

​

$

7,240,758

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, 2022, 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 any affiliated fund during the period ended October 31, 2022 is as follows:

Affiliated Holdings

​

Shares at 04/30/2022

Value ($) at 04/30/2022

Purchases Cost ($)

Sales Proceeds ($)

Net Realized Gain/(Loss) ($)

Net Change in Unrealized Appreciation/​ (Depreciation) ($)

Income Distributions ($)

Capital Gain Distributions ($)

Shares at 10/31/2022

Value ($) at 10/31/2022

IQ Ultra Short Duration ETF

​

104

​

4,990

​

1,324

​

(4,930)

​

(119)

​

57

​

36

​

—

​

28

​

1,322

For more information on the determination, please refer to Note 6.

See notes to financial statements.

34

Schedule of Investments — IQ Real Return ETF 

October 31, 2022 (unaudited)

​	Principal Amount			Value
U.S. Treasury Inflation Indexed Bonds — 59.7%
U.S. Treasury Inflation Indexed Bond 0.125%, due 1/15/23(a)	​	$	130,200	​	$	166,711
0.125%, due 7/15/24(a)	​	​	189,700	​	​	230,697
0.125%, due 10/15/24(a)	​	​	182,000	​	​	203,928
0.125%, due 4/15/25	​	​	151,200	​	​	166,258
0.125%, due 10/15/25	​	​	183,000	​	​	199,753
0.125%, due 4/15/26	​	​	144,300	​	​	153,732
0.125%, due 7/15/26	​	​	162,000	​	​	189,190
0.125%, due 10/15/26(a)	​	​	206,700	​	​	210,824
0.125%, due 4/15/27(a)	​	​	220,900	​	​	216,084
0.125%, due 1/15/30	​	​	70,000	​	​	72,114
0.125%, due 7/15/30	​	​	77,200	​	​	79,571
0.125%, due 1/15/31	​	​	81,500	​	​	82,105
0.125%, due 7/15/31	​	​	85,000	​	​	82,768
0.125%, due 1/15/32	​	​	101,600	​	​	94,784
0.125%, due 2/15/51	​	​	30,300	​	​	22,033
0.125%, due 2/15/52	​	​	37,600	​	​	25,627
0.250%, due 1/15/25(a)	​	​	174,100	​	​	210,331
0.250%, due 7/15/29	​	​	62,100	​	​	65,592
0.250%, due 2/15/50	​	​	29,800	​	​	22,811
0.375%, due 7/15/23	​	​	130,200	​	​	164,357
0.375%, due 7/15/25	​	​	191,700	​	​	231,361
0.375%, due 1/15/27	​	​	159,300	​	​	184,580
0.375%, due 7/15/27	​	​	169,900	​	​	194,212
0.500%, due 4/15/24	​	​	125,400	​	​	144,177
0.500%, due 1/15/28	​	​	68,000	​	​	76,809
0.625%, due 4/15/23	​	​	125,600	​	​	148,824
0.625%, due 1/15/24	​	​	206,900	​	​	258,314
0.625%, due 1/15/26	​	​	161,700	​	​	194,353
0.625%, due 7/15/32	​	​	71,700	​	​	66,930
0.625%, due 2/15/43	​	​	27,000	​	​	27,412
0.750%, due 7/15/28	​	​	56,600	​	​	63,546
0.750%, due 2/15/42	​	​	33,900	​	​	36,480
0.750%, due 2/15/45	​	​	41,700	​	​	41,660
0.875%, due 1/15/29	​	​	52,300	​	​	58,406
0.875%, due 2/15/47	​	​	27,100	​	​	26,689
1.000%, due 2/15/46(a)	​	​	21,900	​	​	22,818
1.000%, due 2/15/48	​	​	20,300	​	​	20,028
1.000%, due 2/15/49	​	​	19,200	​	​	18,597
1.375%, due 2/15/44	​	​	37,600	​	​	43,506
1.625%, due 10/15/27	​	​	121,900	​	​	122,039
1.750%, due 1/15/28	​	​	24,200	​	​	34,288
2.000%, due 1/15/26	​	​	64,600	​	​	96,940
2.125%, due 2/15/40	​	​	14,000	​	​	20,055
2.125%, due 2/15/41	​	​	20,500	​	​	28,921
2.375%, due 1/15/25	​	​	95,100	​	​	151,078
2.375%, due 1/15/27	​	​	63,400	​	​	95,429
2.500%, due 1/15/29	​	​	22,700	​	​	32,745
3.375%, due 4/15/32	​	​	8,700	​	​	16,627

​	Principal Amount			Value
U.S. Treasury Inflation Indexed Bonds (continued)
3.625%, due 4/15/28	​	$	18,900	​	$	37,905
3.875%, due 4/15/29	​	​	22,300	​	​	45,265
​	​	​	​	​	​	5,199,264
Total U.S. Treasury Inflation Indexed Bonds	​			​
(Cost $5,880,484)	​	​	​	​	​	5,199,264
​	Shares			​	​	​
Common Stocks — 30.3%
Communication Services — 1.7%
Activision Blizzard, Inc.	​	​	45	​	​	3,276
Alphabet, Inc., Class A*	​	​	370	​	​	34,969
Alphabet, Inc., Class C*	​	​	325	​	​	30,765
AT&T, Inc.	​	​	442	​	​	8,058
Charter Communications, Inc., Class A*	​	​	5	​	​	1,838
Comcast Corp., Class A	​	​	276	​	​	8,760
Electronic Arts, Inc.	​	​	17	​	​	2,141
Fox Corp., Class A	​	​	17	​	​	491
Fox Corp., Class B	​	​	10	​	​	272
Liberty Broadband Corp., Class A*(a)	​	​	2	​	​	171
Liberty Broadband Corp., Class C*	​	​	9	​	​	760
Liberty Media Corp.-Liberty SiriusXM*	​	​	12	​	​	506
Liberty Media Corp.-Liberty SiriusXM, Class A*(a)	​	​	2	​	​	85
Live Nation Entertainment, Inc.*	​	​	10	​	​	796
Lumen Technologies, Inc.	​	​	61	​	​	449
Match Group, Inc.*	​	​	18	​	​	778
Meta Platforms, Inc., Class A*	​	​	141	​	​	13,136
Netflix, Inc.*	​	​	27	​	​	7,881
Omnicom Group, Inc.	​	​	11	​	​	800
Paramount Global, Class A	​	​	1	​	​	21
Paramount Global, Class B(a)	​	​	35	​	​	641
Pinterest, Inc., Class A*	​	​	32	​	​	787
ROBLOX Corp., Class A*(a)	​	​	19	​	​	850
Roku, Inc.*	​	​	7	​	​	389
Sirius XM Holdings, Inc.(a)	​	​	49	​	​	296
Snap, Inc., Class A*	​	​	73	​	​	723
Spotify Technology SA*	​	​	7	​	​	564
Take-Two Interactive Software, Inc.*	​	​	11	​	​	1,303
T-Mobile US, Inc.*	​	​	38	​	​	5,759
Verizon Communications, Inc.	​	​	242	​	​	9,044
Walt Disney Co. (The)*	​	​	113	​	​	12,039
Warner Bros Discovery, Inc.*	​	​	127	​	​	1,651
Warner Music Group Corp., Class A	​	​	5	​	​	130
ZoomInfo Technologies, Inc.*	​	​	16	​	​	712
Total Communication Services	​	​	​	​	​	150,841

See notes to financial statements.

35​

Schedule of Investments — IQ Real Return ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Consumer Discretionary — 2.5%
Airbnb, Inc., Class A*	​	22	​	$	2,352
Amazon.com, Inc.*	​	549	​	​	56,240
Aptiv PLC*	​	17	​	​	1,548
AutoZone, Inc.*	​	1	​	​	2,533
Best Buy Co., Inc.	​	12	​	​	821
Booking Holdings, Inc.*	​	3	​	​	5,608
CarMax, Inc.*(a)	​	11	​	​	693
Carnival Corp.*(a)	​	48	​	​	435
Carvana Co.*(a)	​	4	​	​	54
Chewy, Inc., Class A*(a)	​	4	​	​	155
Chipotle Mexican Grill, Inc.*	​	2	​	​	2,997
Darden Restaurants, Inc.	​	8	​	​	1,145
Dollar General Corp.	​	14	​	​	3,571
Dollar Tree, Inc.*	​	11	​	​	1,744
Domino’s Pizza, Inc.	​	2	​	​	664
DoorDash, Inc., Class A*	​	17	​	​	740
DR Horton, Inc.	​	19	​	​	1,461
eBay, Inc.	​	36	​	​	1,434
Etsy, Inc.*(a)	​	9	​	​	845
Expedia Group, Inc.*	​	10	​	​	935
Ford Motor Co.	​	230	​	​	3,075
Garmin Ltd.	​	11	​	​	968
General Motors Co.	​	79	​	​	3,101
Genuine Parts Co.	​	9	​	​	1,601
Hasbro, Inc.	​	9	​	​	587
Hilton Worldwide Holdings, Inc.	​	17	​	​	2,299
Home Depot, Inc. (The)	​	64	​	​	18,952
Las Vegas Sands Corp.*	​	22	​	​	836
Lennar Corp., Class A	​	15	​	​	1,211
Lennar Corp., Class B	​	2	​	​	130
Lowe’s Cos., Inc.	​	39	​	​	7,603
Lucid Group, Inc.*(a)	​	35	​	​	500
Lululemon Athletica, Inc.*	​	7	​	​	2,303
Marriott International, Inc., Class A	​	18	​	​	2,882
McDonald’s Corp.	​	46	​	​	12,542
MGM Resorts International	​	22	​	​	783
NIKE, Inc., Class B	​	78	​	​	7,229
O’Reilly Automotive, Inc.*	​	4	​	​	3,349
Rivian Automotive, Inc., Class A*(a)	​	39	​	​	1,364
Ross Stores, Inc.	​	19	​	​	1,818
Starbucks Corp.	​	70	​	​	6,061
Target Corp.	​	29	​	​	4,763
Tesla, Inc.*	​	161	​	​	36,634
TJX Cos., Inc. (The)	​	67	​	​	4,831
Tractor Supply Co.	​	6	​	​	1,319
Ulta Beauty, Inc.*	​	3	​	​	1,258
VF Corp.	​	23	​	​	650
Wayfair, Inc., Class A*(a)	​	2	​	​	76

​	Shares		Value
Common Stocks (continued)
Consumer Discretionary (continued)
Yum! Brands, Inc.	​	18	​	$	2,129
Total Consumer Discretionary	​	​	​	​	216,829
Consumer Staples — 1.6%
Altria Group, Inc.	​	112	​	​	5,182
Archer-Daniels-Midland Co.	​	34	​	​	3,297
Brown-Forman Corp., Class B	​	19	​	​	1,292
Campbell Soup Co.	​	10	​	​	529
Church & Dwight Co., Inc.	​	15	​	​	1,112
Clorox Co. (The)	​	8	​	​	1,168
Coca-Cola Co. (The)	​	240	​	​	14,364
Colgate-Palmolive Co.	​	53	​	​	3,914
Conagra Brands, Inc.	​	30	​	​	1,101
Constellation Brands, Inc., Class A	​	9	​	​	2,224
Costco Wholesale Corp.	​	27	​	​	13,541
Estee Lauder Cos., Inc. (The), Class A	​	13	​	​	2,607
General Mills, Inc.	​	36	​	​	2,937
Hershey Co. (The)	​	9	​	​	2,149
Hormel Foods Corp.	​	18	​	​	836
J M Smucker Co. (The)	​	5	​	​	753
Kellogg Co.	​	17	​	​	1,306
Keurig Dr Pepper, Inc.	​	54	​	​	2,097
Kimberly-Clark Corp.	​	22	​	​	2,738
Kraft Heinz Co. (The)	​	50	​	​	1,924
Kroger Co. (The)	​	37	​	​	1,750
McCormick & Co., Inc.(a)	​	15	​	​	1,180
Mondelez International, Inc., Class A	​	84	​	​	5,164
Monster Beverage Corp.*	​	24	​	​	2,249
PepsiCo, Inc.	​	85	​	​	15,434
Philip Morris International, Inc.	​	96	​	​	8,818
Procter & Gamble Co. (The)	​	148	​	​	19,931
Sysco Corp.	​	31	​	​	2,683
Tyson Foods, Inc., Class A	​	18	​	​	1,230
Walgreens Boots Alliance, Inc.	​	42	​	​	1,533
Walmart, Inc.	​	88	​	​	12,525
Total Consumer Staples	​	​	​	​	137,568
Energy — 2.5%
Baker Hughes Co.	​	129	​	​	3,568
Cheniere Energy, Inc.	​	28	​	​	4,940
Chevron Corp.	​	223	​	​	40,341
ConocoPhillips	​	160	​	​	20,174
Continental Resources, Inc.	​	7	​	​	518
Coterra Energy, Inc.	​	96	​	​	2,989
Devon Energy Corp.	​	81	​	​	6,265
Diamondback Energy, Inc.	​	22	​	​	3,456
EOG Resources, Inc.	​	73	​	​	9,966
EQT Corp.	​	41	​	​	1,715

See notes to financial statements.

36

Schedule of Investments — IQ Real Return ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Energy (continued)
Exxon Mobil Corp.	​	520	​	$	57,621
Halliburton Co.	​	103	​	​	3,751
Hess Corp.	​	35	​	​	4,938
Kinder Morgan, Inc.	​	251	​	​	4,548
Marathon Oil Corp.	​	88	​	​	2,680
Marathon Petroleum Corp.	​	67	​	​	7,613
Occidental Petroleum Corp.	​	89	​	​	6,461
ONEOK, Inc.	​	55	​	​	3,263
Phillips 66	​	60	​	​	6,257
Pioneer Natural Resources Co.	​	28	​	​	7,179
Schlumberger NV	​	175	​	​	9,105
Valero Energy Corp.	​	51	​	​	6,403
Williams Cos., Inc. (The)	​	150	​	​	4,910
Total Energy	​	​	​	​	218,661
Financials — 5.0%
Aflac, Inc.	​	74	​	​	4,818
Allstate Corp. (The)	​	34	​	​	4,292
American Express Co.	​	68	​	​	10,095
American International Group, Inc.	​	98	​	​	5,586
Ameriprise Financial, Inc.	​	14	​	​	4,328
Aon PLC, Class A	​	25	​	​	7,037
Apollo Global Management, Inc.	​	41	​	​	2,270
Arch Capital Group Ltd.*	​	45	​	​	2,588
Ares Management Corp., Class A	​	19	​	​	1,441
Arthur J Gallagher & Co.	​	26	​	​	4,864
Bank of America Corp.	​	869	​	​	31,319
Bank of New York Mellon Corp. (The)	​	91	​	​	3,832
Berkshire Hathaway, Inc., Class B*	​	155	​	​	45,739
BlackRock, Inc.	​	17	​	​	10,980
Blackstone, Inc.	​	87	​	​	7,929
Brown & Brown, Inc.	​	30	​	​	1,764
Capital One Financial Corp.	​	46	​	​	4,877
Charles Schwab Corp. (The)	​	188	​	​	14,978
Chubb Ltd.	​	49	​	​	10,530
Cincinnati Financial Corp.	​	20	​	​	2,066
Citigroup, Inc.	​	232	​	​	10,640
Citizens Financial Group, Inc.	​	64	​	​	2,618
CME Group, Inc.	​	44	​	​	7,625
Coinbase Global, Inc., Class A*(a)	​	15	​	​	994
Discover Financial Services	​	33	​	​	3,447
Fifth Third Bancorp	​	83	​	​	2,962
First Republic Bank	​	21	​	​	2,522
Franklin Resources, Inc.	​	37	​	​	868
Goldman Sachs Group, Inc. (The)	​	42	​	​	14,469
Hartford Financial Services Group, Inc. (The)	​	42	​	​	3,041
Huntington Bancshares, Inc.	​	167	​	​	2,535

​	Shares		Value
Common Stocks (continued)
Financials (continued)
Interactive Brokers Group, Inc., Class A	​	11	​	$	882
Intercontinental Exchange, Inc.	​	69	​	​	6,594
JPMorgan Chase & Co.	​	360	​	​	45,317
KeyCorp	​	105	​	​	1,876
KKR & Co., Inc.	​	89	​	​	4,328
Loews Corp.	​	25	​	​	1,426
LPL Financial Holdings, Inc.	​	10	​	​	2,557
M&T Bank Corp.	​	22	​	​	3,704
Markel Corp.*	​	2	​	​	2,412
Marsh & McLennan Cos., Inc.	​	62	​	​	10,012
MetLife, Inc.	​	77	​	​	5,637
Moody’s Corp.	​	10	​	​	2,649
Morgan Stanley	​	168	​	​	13,805
MSCI, Inc.	​	5	​	​	2,344
Nasdaq, Inc.	​	39	​	​	2,427
Northern Trust Corp.	​	25	​	​	2,109
PNC Financial Services Group, Inc. (The)	​	51	​	​	8,253
Principal Financial Group, Inc.	​	31	​	​	2,732
Progressive Corp. (The)	​	73	​	​	9,373
Prudential Financial, Inc.	​	46	​	​	4,839
Raymond James Financial, Inc.	​	23	​	​	2,717
Regions Financial Corp.	​	111	​	​	2,436
Rocket Cos., Inc., Class A(a)	​	19	​	​	131
S&P Global, Inc.	​	21	​	​	6,746
State Street Corp.	​	44	​	​	3,256
SVB Financial Group*	​	7	​	​	1,617
Synchrony Financial	​	59	​	​	2,098
T Rowe Price Group, Inc.(a)	​	29	​	​	3,079
Tradeweb Markets, Inc., Class A	​	11	​	​	606
Travelers Cos., Inc. (The)	​	29	​	​	5,349
Truist Financial Corp.	​	165	​	​	7,390
US Bancorp	​	164	​	​	6,962
W R Berkley Corp.	​	24	​	​	1,785
Wells Fargo & Co.	​	469	​	​	21,569
Willis Towers Watson PLC	​	14	​	​	3,055
Total Financials	​	​	​	​	435,126
Health Care — 3.6%
Abbott Laboratories	​	108	​	​	10,686
AbbVie, Inc.	​	109	​	​	15,958
Agilent Technologies, Inc.	​	19	​	​	2,629
Align Technology, Inc.*	​	4	​	​	777
Alnylam Pharmaceuticals, Inc.*	​	7	​	​	1,451
AmerisourceBergen Corp.	​	10	​	​	1,572
Amgen, Inc.	​	33	​	​	8,922
Avantor, Inc.*	​	30	​	​	605

See notes to financial statements.

37​

Schedule of Investments — IQ Real Return ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Health Care (continued)
Baxter International, Inc.	​	32	​	$	1,739
Becton Dickinson and Co.	​	17	​	​	4,011
Biogen, Inc.*	​	9	​	​	2,551
BioMarin Pharmaceutical, Inc.*	​	11	​	​	953
Bio-Rad Laboratories, Inc., Class A*	​	1	​	​	352
Boston Scientific Corp.*	​	88	​	​	3,794
Bristol-Myers Squibb Co.	​	132	​	​	10,226
Cardinal Health, Inc.	​	17	​	​	1,290
Catalent, Inc.*	​	10	​	​	657
Centene Corp.*	​	35	​	​	2,980
Cigna Corp.	​	20	​	​	6,461
Cooper Cos., Inc. (The)	​	3	​	​	820
CVS Health Corp.	​	81	​	​	7,671
Danaher Corp.	​	41	​	​	10,318
Dexcom, Inc.*	​	24	​	​	2,899
Edwards Lifesciences Corp.*	​	38	​	​	2,752
Elevance Health, Inc.	​	15	​	​	8,202
Eli Lilly & Co.	​	52	​	​	18,829
Gilead Sciences, Inc.	​	77	​	​	6,041
HCA Healthcare, Inc.	​	14	​	​	3,045
Hologic, Inc.*	​	17	​	​	1,153
Horizon Therapeutics PLC*	​	15	​	​	935
Humana, Inc.	​	8	​	​	4,465
ICON PLC*	​	5	​	​	989
IDEXX Laboratories, Inc.*	​	5	​	​	1,798
Illumina, Inc.*	​	10	​	​	2,288
Incyte Corp.*	​	9	​	​	669
Insulet Corp.*	​	4	​	​	1,035
Intuitive Surgical, Inc.*	​	22	​	​	5,422
IQVIA Holdings, Inc.*	​	11	​	​	2,306
Johnson & Johnson	​	163	​	​	28,357
Laboratory Corp. of America Holdings	​	6	​	​	1,331
McKesson Corp.	​	9	​	​	3,504
Medtronic PLC	​	82	​	​	7,162
Merck & Co., Inc.	​	156	​	​	15,787
Mettler-Toledo International, Inc.*	​	1	​	​	1,265
Moderna, Inc.*	​	21	​	​	3,157
Molina Healthcare, Inc.*	​	3	​	​	1,077
PerkinElmer, Inc.	​	9	​	​	1,202
Pfizer, Inc.	​	347	​	​	16,153
Quest Diagnostics, Inc.	​	7	​	​	1,006
Regeneron Pharmaceuticals, Inc.*	​	6	​	​	4,493
ResMed, Inc.	​	9	​	​	2,013
Royalty Pharma PLC, Class A	​	19	​	​	804
Seagen, Inc.*	​	8	​	​	1,017
STERIS PLC	​	6	​	​	1,035
Stryker Corp.	​	20	​	​	4,585
Teleflex, Inc.	​	3	​	​	644

​	Shares		Value
Common Stocks (continued)
Health Care (continued)
Thermo Fisher Scientific, Inc.	​	24	​	$	12,335
UnitedHealth Group, Inc.	​	58	​	​	32,199
Veeva Systems, Inc., Class A*	​	9	​	​	1,511
Vertex Pharmaceuticals, Inc.*	​	16	​	​	4,992
Waters Corp.*	​	3	​	​	898
West Pharmaceutical Services, Inc.	​	4	​	​	920
Zimmer Biomet Holdings, Inc.	​	13	​	​	1,474
Zimvie, Inc.*	​	3	​	​	26
Zoetis, Inc.	​	27	​	​	4,071
Total Health Care	​	​	​	​	312,269
Industrials — 3.6%
3M Co.	​	71	​	​	8,931
AMETEK, Inc.	​	28	​	​	3,631
Boeing Co. (The)*	​	73	​	​	10,403
Carrier Global Corp.	​	105	​	​	4,175
Caterpillar, Inc.	​	66	​	​	14,286
Cintas Corp.	​	10	​	​	4,276
Copart, Inc.*	​	14	​	​	1,610
CoStar Group, Inc.*	​	24	​	​	1,985
CSX Corp.	​	263	​	​	7,643
Cummins, Inc.	​	17	​	​	4,157
Deere & Co.	​	35	​	​	13,854
Delta Air Lines, Inc.*	​	17	​	​	577
Dover Corp.	​	18	​	​	2,352
Eaton Corp. PLC	​	49	​	​	7,353
Emerson Electric Co.	​	74	​	​	6,408
Equifax, Inc.	​	7	​	​	1,187
Expeditors International of Washington, Inc.	​	20	​	​	1,957
Fastenal Co.	​	70	​	​	3,383
FedEx Corp.	​	30	​	​	4,808
Ferguson PLC	​	26	​	​	2,841
Fortive Corp.	​	46	​	​	2,939
Generac Holdings, Inc.*	​	8	​	​	927
General Dynamics Corp.	​	30	​	​	7,494
General Electric Co.	​	134	​	​	10,427
Grab Holdings Ltd., Class A*	​	155	​	​	403
HEICO Corp.	​	5	​	​	813
HEICO Corp., Class A	​	10	​	​	1,273
Honeywell International, Inc.	​	84	​	​	17,138
IDEX Corp.	​	9	​	​	2,001
Illinois Tool Works, Inc.	​	34	​	​	7,260
Ingersoll Rand, Inc.	​	46	​	​	2,323
Jacobs Solutions, Inc.	​	16	​	​	1,844
JB Hunt Transport Services, Inc.	​	10	​	​	1,711
Johnson Controls International PLC	​	86	​	​	4,974
L3Harris Technologies, Inc.	​	24	​	​	5,915

See notes to financial statements.

38

Schedule of Investments — IQ Real Return ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Industrials (continued)
Leidos Holdings, Inc.	​	8	​	$	813
Lockheed Martin Corp.	​	33	​	​	16,060
Masco Corp.	​	16	​	​	740
Norfolk Southern Corp.	​	29	​	​	6,614
Northrop Grumman Corp.	​	17	​	​	9,333
Old Dominion Freight Line, Inc.	​	12	​	​	3,295
Otis Worldwide Corp.	​	52	​	​	3,673
PACCAR, Inc.	​	39	​	​	3,776
Parker-Hannifin Corp.	​	16	​	​	4,650
Quanta Services, Inc.	​	17	​	​	2,415
Raytheon Technologies Corp.	​	183	​	​	17,352
Republic Services, Inc.	​	25	​	​	3,316
Rockwell Automation, Inc.	​	14	​	​	3,574
Rollins, Inc.	​	28	​	​	1,178
Southwest Airlines Co.*	​	15	​	​	545
Stanley Black & Decker, Inc.	​	18	​	​	1,413
Trane Technologies PLC	​	29	​	​	4,629
TransDigm Group, Inc.	​	6	​	​	3,455
TransUnion	​	10	​	​	593
Uber Technologies, Inc.*	​	115	​	​	3,056
Union Pacific Corp.	​	77	​	​	15,180
United Airlines Holdings, Inc.*	​	13	​	​	560
United Parcel Service, Inc., Class B	​	91	​	​	15,267
United Rentals, Inc.*	​	9	​	​	2,841
Verisk Analytics, Inc.	​	10	​	​	1,828
Waste Management, Inc.	​	51	​	​	8,077
Westinghouse Air Brake Technologies Corp.	​	20	​	​	1,866
WW Grainger, Inc.	​	6	​	​	3,506
Xylem, Inc.	​	21	​	​	2,151
Total Industrials	​	​	​	​	315,015
Information Technology — 6.4%
Accenture PLC, Class A	​	41	​	​	11,640
Adobe, Inc.*	​	29	​	​	9,236
Advanced Micro Devices, Inc.*	​	101	​	​	6,066
Akamai Technologies, Inc.*	​	11	​	​	972
Amphenol Corp., Class A	​	73	​	​	5,536
Analog Devices, Inc.	​	32	​	​	4,564
ANSYS, Inc.*	​	5	​	​	1,106
Apple, Inc.	​	946	​	​	145,060
Applied Materials, Inc.	​	54	​	​	4,768
AppLovin Corp., Class A*	​	12	​	​	204
Arista Networks, Inc.*	​	14	​	​	1,692
Atlassian Corp., Class A*	​	9	​	​	1,825
Autodesk, Inc.*	​	13	​	​	2,786
Automatic Data Processing, Inc.	​	25	​	​	6,042
Block, Inc.*	​	33	​	​	1,982

​	Shares		Value
Common Stocks (continued)
Information Technology (continued)
Broadcom, Inc.	​	24	​	$	11,283
Broadridge Financial Solutions, Inc.(a)	​	7	​	​	1,050
Cadence Design Systems, Inc.*	​	17	​	​	2,574
CDW Corp.	​	8	​	​	1,382
Cisco Systems, Inc.	​	235	​	​	10,676
Cloudflare, Inc., Class A*	​	15	​	​	845
Cognizant Technology Solutions Corp., Class A	​	34	​	​	2,116
Corning, Inc.	​	42	​	​	1,351
Crowdstrike Holdings, Inc., Class A*	​	13	​	​	2,096
Datadog, Inc., Class A*	​	17	​	​	1,369
Dell Technologies, Inc., Class C	​	16	​	​	614
DocuSign, Inc.*	​	10	​	​	483
Enphase Energy, Inc.*	​	16	​	​	4,912
EPAM Systems, Inc.*	​	3	​	​	1,050
Fidelity National Information Services, Inc.	​	37	​	​	3,071
Fiserv, Inc.*	​	36	​	​	3,699
FleetCor Technologies, Inc.*	​	4	​	​	744
Fortinet, Inc.*	​	44	​	​	2,515
Gartner, Inc.*	​	4	​	​	1,208
Global Payments, Inc.	​	17	​	​	1,942
GLOBALFOUNDRIES, Inc.*(a)	​	4	​	​	227
Hewlett Packard Enterprise Co.	​	81	​	​	1,156
HP, Inc.	​	56	​	​	1,547
HubSpot, Inc.*	​	3	​	​	890
Intel Corp.	​	257	​	​	7,306
International Business Machines Corp.	​	56	​	​	7,744
Intuit, Inc.	​	17	​	​	7,267
Keysight Technologies, Inc.*	​	22	​	​	3,831
KLA Corp.	​	9	​	​	2,848
Lam Research Corp.	​	8	​	​	3,238
Marvell Technology, Inc.	​	53	​	​	2,103
Mastercard, Inc., Class A	​	53	​	​	17,394
Microchip Technology, Inc.	​	34	​	​	2,099
Micron Technology, Inc.	​	69	​	​	3,733
Microsoft Corp.	​	462	​	​	107,244
MongoDB, Inc.*	​	3	​	​	549
Monolithic Power Systems, Inc.	​	3	​	​	1,018
Motorola Solutions, Inc.	​	10	​	​	2,497
NetApp, Inc.	​	13	​	​	900
NVIDIA Corp.	​	149	​	​	20,111
Okta, Inc.*	​	10	​	​	561
ON Semiconductor Corp.*	​	25	​	​	1,536
Oracle Corp.	​	93	​	​	7,260
Palantir Technologies, Inc., Class A*(a)	​	102	​	​	897
Palo Alto Networks, Inc.*	​	18	​	​	3,089
Paychex, Inc.	​	21	​	​	2,485

See notes to financial statements.

39​

Schedule of Investments — IQ Real Return ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Information Technology (continued)
Paycom Software, Inc.*	​	3	​	$	1,038
PayPal Holdings, Inc.*	​	72	​	​	6,018
Qorvo, Inc.*	​	6	​	​	516
QUALCOMM, Inc.	​	69	​	​	8,119
Qualtrics International, Inc., Class A*	​	2	​	​	24
RingCentral, Inc., Class A*	​	3	​	​	107
Roper Technologies, Inc.	​	7	​	​	2,902
Salesforce, Inc.*	​	60	​	​	9,755
Seagate Technology Holdings PLC	​	10	​	​	497
ServiceNow, Inc.*	​	12	​	​	5,049
Skyworks Solutions, Inc.	​	11	​	​	946
Snowflake, Inc., Class A*	​	17	​	​	2,725
SolarEdge Technologies, Inc.*	​	7	​	​	1,610
Splunk, Inc.*	​	11	​	​	914
SS&C Technologies Holdings, Inc.	​	13	​	​	668
Synopsys, Inc.*	​	9	​	​	2,633
Teledyne Technologies, Inc.*	​	6	​	​	2,388
Teradyne, Inc.	​	11	​	​	895
Texas Instruments, Inc.	​	56	​	​	8,995
Trade Desk, Inc. (The), Class A*	​	24	​	​	1,278
Trimble, Inc.*	​	32	​	​	1,925
Twilio, Inc., Class A*	​	10	​	​	744
Tyler Technologies, Inc.*	​	3	​	​	970
Unity Software, Inc.*(a)	​	12	​	​	354
VeriSign, Inc.*	​	6	​	​	1,203
Visa, Inc., Class A(a)	​	101	​	​	20,923
VMware, Inc., Class A	​	14	​	​	1,575
Western Digital Corp.*	​	17	​	​	584
Workday, Inc., Class A*	​	12	​	​	1,870
Zebra Technologies Corp., Class A*	​	3	​	​	850
Zoom Video Communications, Inc., Class A*	​	10	​	​	834
Zscaler, Inc.*(a)	​	5	​	​	770
Total Information Technology	​	​	​	​	557,668
Materials — 0.9%
Air Products and Chemicals, Inc.	​	27	​	​	6,761
Albemarle Corp.	​	14	​	​	3,918
Amcor PLC	​	179	​	​	2,073
Ball Corp.	​	41	​	​	2,025
Celanese Corp.	​	12	​	​	1,153
CF Industries Holdings, Inc.	​	25	​	​	2,657
Corteva, Inc.	​	90	​	​	5,881
Dow, Inc.	​	88	​	​	4,113
DuPont de Nemours, Inc.	​	59	​	​	3,375
Ecolab, Inc.	​	31	​	​	4,869
FMC Corp.	​	16	​	​	1,902
Freeport-McMoRan, Inc.	​	178	​	​	5,641

​	Shares		Value
Common Stocks (continued)
Materials (continued)
International Flavors & Fragrances, Inc.	​	31	​	$	3,026
International Paper Co.	​	49	​	​	1,647
LyondellBasell Industries NV, Class A	​	32	​	​	2,446
Martin Marietta Materials, Inc.	​	8	​	​	2,688
Mosaic Co. (The)	​	45	​	​	2,419
Newmont Corp.	​	101	​	​	4,274
Nucor Corp.	​	34	​	​	4,467
PPG Industries, Inc.	​	29	​	​	3,311
Sherwin-Williams Co. (The)	​	29	​	​	6,526
Vulcan Materials Co.	​	16	​	​	2,619
Total Materials	​	​	​	​	77,791
Real Estate — 1.2%
Alexandria Real Estate Equities, Inc.	​	20	​	​	2,906
American Tower Corp.	​	57	​	​	11,810
AvalonBay Communities, Inc.	​	17	​	​	2,977
Boston Properties, Inc.	​	17	​	​	1,236
CBRE Group, Inc., Class A*	​	39	​	​	2,767
Crown Castle, Inc.	​	53	​	​	7,063
Digital Realty Trust, Inc.	​	35	​	​	3,509
Equinix, Inc.	​	11	​	​	6,231
Equity Residential	​	45	​	​	2,836
Essex Property Trust, Inc.	​	8	​	​	1,778
Extra Space Storage, Inc.	​	16	​	​	2,839
Healthpeak Properties, Inc.	​	64	​	​	1,519
Invitation Homes, Inc.	​	78	​	​	2,472
Mid-America Apartment Communities, Inc.	​	14	​	​	2,204
Prologis, Inc.	​	115	​	​	12,736
Public Storage	​	18	​	​	5,575
Realty Income Corp.	​	76	​	​	4,732
SBA Communications Corp.	​	13	​	​	3,509
Simon Property Group, Inc.	​	39	​	​	4,250
Sun Communities, Inc.	​	14	​	​	1,888
UDR, Inc.	​	38	​	​	1,511
Ventas, Inc.	​	51	​	​	1,996
VICI Properties, Inc.	​	119	​	​	3,810
Welltower, Inc.	​	56	​	​	3,418
Weyerhaeuser Co.	​	95	​	​	2,938
WP Carey, Inc.	​	24	​	​	1,831
Total Real Estate	​	​	​	​	100,341
Utilities — 1.3%
AES Corp. (The)	​	82	​	​	2,145
Alliant Energy Corp.	​	33	​	​	1,722
Ameren Corp.	​	31	​	​	2,527
American Electric Power Co., Inc.	​	63	​	​	5,539
American Water Works Co., Inc.	​	22	​	​	3,197

See notes to financial statements.

40

Schedule of Investments — IQ Real Return ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Utilities (continued)
Atmos Energy Corp.	​	18	​	$	1,918
Avangrid, Inc.(a)	​	10	​	​	407
CenterPoint Energy, Inc.	​	78	​	​	2,232
CMS Energy Corp.	​	32	​	​	1,826
Consolidated Edison, Inc.	​	44	​	​	3,870
Constellation Energy Corp.	​	41	​	​	3,876
Dominion Energy, Inc.	​	101	​	​	7,067
DTE Energy Co.	​	22	​	​	2,466
Duke Energy Corp.	​	95	​	​	8,852
Edison International	​	47	​	​	2,822
Entergy Corp.	​	26	​	​	2,786
Evergy, Inc.	​	26	​	​	1,589
Eversource Energy	​	42	​	​	3,204
Exelon Corp.	​	122	​	​	4,708
FirstEnergy Corp.	​	66	​	​	2,489
NextEra Energy, Inc.	​	243	​	​	18,832
PG&E Corp.*(a)	​	199	​	​	2,971
PPL Corp.	​	90	​	​	2,384
Public Service Enterprise Group, Inc.	​	64	​	​	3,588
Sempra Energy	​	38	​	​	5,736
Southern Co. (The)	​	131	​	​	8,578
WEC Energy Group, Inc.	​	38	​	​	3,471
Xcel Energy, Inc.	​	68	​	​	4,427
Total Utilities	​	​	​	​	115,229
Total Common Stocks	​		​
(Cost $2,970,489)	​	​	​	​	2,637,338

​	Shares		Value
Investment Companies — 9.8%
Commodity Funds — 9.8%
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	​	20,122	​	$	342,074
iShares GSCI Commodity Dynamic	​	13,553	​	​	512,304
Total Commodity Funds	​	​	​	​	854,378
Total Investment Companies	​		​
(Cost $820,423)	​	​	​	​	854,378
Short-Term Investments — 0.1%
Money Market Funds — 0.1%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.91%(b)(c)	​	2,485	​	​	2,485
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 3.09%(b)	​	9,227	​	​	9,227
Total Short-Term Investments	​		​
(Cost $11,712)	​	​	​	​	11,712
Total Investments — 99.9%	​		​
(Cost $9,683,108)	​	​	​	​	8,702,692
Other Assets and Liabilities, Net — 0.1%	​	​	​	​	6,699
Net Assets — 100.0%	​	​	​	$	8,709,391

*

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 $1,285,207; total market value of collateral held by the Fund was $1,325,788. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of  $1,323,303.

(b)

Reflects the 1-day yield at October 31, 2022.

(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, 2022. 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)

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Treasury Inflation Indexed Bonds

​

$

—

​

$

5,199,264

​

$

—

​

$

5,199,264

Common Stocks

​

​

2,637,338

​

​

—

​

​

—

​

​

2,637,338

Investment Companies

​

​

854,378

​

​

—

​

​

—

​

​

854,378

Short-Term Investments:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Funds

​

​

11,712

​

​

—

​

​

—

​

​

11,712

Total Investments in Securities

​

$

3,503,428

​

$

5,199,264

​

$

—

​

$

8,702,692

(d)

For a complete listing of investments and their industries, see the Schedule of Investments.

For the period ended October 31, 2022, 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.

41​

Schedule of Investments — IQ S&P High Yield Low Volatility Bond ETF 

October 31, 2022 (unaudited)

​	Principal Amount			Value
Long-Term Bonds 97.7%
Corporate Bonds — 91.6%
Consumer Discretionary — 13.7%
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC	​	​	​	​	​	​
3.250%, due 3/15/26	​	$	26,000	​	$	23,333
3.500%, due 3/15/29	​	​	42,000	​	​	34,755
4.625%, due 1/15/27	​	​	98,000	​	​	90,818
4.875%, due 2/15/30	​	​	35,000	​	​	31,062
5.875%, due 2/15/28	​	​	38,000	​	​	35,530
7.500%, due 3/15/26	​	​	17,000	​	​	17,425
Allison Transmission, Inc.	​	​	​	​	​	​
3.750%, due 1/30/31	​	​	52,000	​	​	41,483
5.875%, due 6/1/29	​	​	25,000	​	​	23,312
Boyd Gaming Corp.	​	​	​	​	​	​
4.750%, due 12/1/27(a)	​	​	43,000	​	​	39,617
4.750%, due 6/15/31	​	​	45,000	​	​	38,013
Caesars Entertainment, Inc.	​	​	​	​	​	​
6.250%, due 7/1/25	​	​	130,000	​	​	126,845
Caesars Resort Collection LLC / CRC Finco, Inc.	​	​	​	​	​	​
5.750%, due 7/1/25	​	​	30,000	​	​	29,303
CDI Escrow Issuer, Inc.	​	​	​	​	​	​
5.750%, due 4/1/30	​	​	68,000	​	​	61,371
Cedar Fair LP / Canada’s Wonderland Co. / Magnum Management Corp. / Millennium Op	​	​	​	​	​	​
5.375%, due 4/15/27	​	​	40,000	​	​	37,700
5.500%, due 5/1/25	​	​	29,000	​	​	28,782
Churchill Downs, Inc.	​	​	​	​	​	​
4.750%, due 1/15/28	​	​	25,000	​	​	22,093
5.500%, due 4/1/27	​	​	25,000	​	​	23,894
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.	​	​	​	​	​	​
4.625%, due 1/15/29	​	​	36,000	​	​	31,309
Ford Motor Co.	​	​	​	​	​	​
3.250%, due 2/12/32	​	​	62,000	​	​	46,551
4.346%, due 12/8/26	​	​	44,000	​	​	40,922
5.291%, due 12/8/46	​	​	64,000	​	​	47,381
7.450%, due 7/16/31	​	​	34,000	​	​	34,120
Ford Motor Credit Co. LLC	​	​	​	​	​	​
3.625%, due 6/17/31	​	​	86,000	​	​	66,880
4.000%, due 11/13/30	​	​	34,000	​	​	27,499
4.063%, due 11/1/24	​	​	90,000	​	​	86,288
4.271%, due 1/9/27	​	​	26,000	​	​	23,475
5.113%, due 5/3/29	​	​	21,000	​	​	18,774
5.125%, due 6/16/25	​	​	40,000	​	​	38,592
5.584%, due 3/18/24	​	​	124,000	​	​	122,125
Goodyear Tire & Rubber Co. (The)	​	​	​	​	​	​
5.000%, due 7/15/29	​	​	59,000	​	​	51,162
Hilton Domestic Operating Co., Inc.	​	​	​	​	​	​
3.625%, due 2/15/32	​	​	77,000	​	​	61,311
3.750%, due 5/1/29	​	​	26,000	​	​	22,150
4.000%, due 5/1/31	​	​	43,000	​	​	35,946
4.875%, due 1/15/30	​	​	44,000	​	​	39,435

​	Principal Amount			Value
Corporate Bonds (continued)
Consumer Discretionary (continued)
5.375%, due 5/1/25	​	$	25,000	​	$	24,625
5.750%, due 5/1/28	​	​	25,000	​	​	24,125
International Game Technology PLC	​	​	​	​	​	​
4.125%, due 4/15/26	​	​	26,000	​	​	24,128
5.250%, due 1/15/29	​	​	26,000	​	​	24,125
6.250%, due 1/15/27	​	​	44,000	​	​	43,593
Las Vegas Sands Corp.	​	​	​	​	​	​
3.500%, due 8/18/26	​	​	137,000	​	​	119,660
3.900%, due 8/8/29	​	​	22,000	​	​	17,782
Lithia Motors, Inc.	​	​	​	​	​	​
4.375%, due 1/15/31	​	​	39,000	​	​	31,665
Marriott Ownership Resorts, Inc.	​	​	​	​	​	​
4.500%, due 6/15/29	​	​	41,000	​	​	34,326
MGM Resorts International	​	​	​	​	​	​
4.750%, due 10/15/28	​	​	50,000	​	​	43,352
5.500%, due 4/15/27	​	​	22,000	​	​	20,263
6.750%, due 5/1/25	​	​	55,000	​	​	54,298
Murphy Oil USA, Inc.	​	​	​	​	​	​
4.750%, due 9/15/29	​	​	43,000	​	​	38,700
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer	​	​	​	​	​	​
4.875%, due 5/15/29	​	​	30,000	​	​	25,581
5.875%, due 10/1/28	​	​	28,000	​	​	25,410
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer	​	​	​	​	​	​
7.500%, due 6/1/25	​	​	17,000	​	​	17,043
Penske Automotive Group, Inc.	​	​	​	​	​	​
3.500%, due 9/1/25	​	​	29,000	​	​	26,958
PetSmart, Inc. / PetSmart Finance Corp.	​	​	​	​	​	​
4.750%, due 2/15/28	​	​	71,000	​	​	64,815
Scientific Games International, Inc.	​	​	​	​	​	​
7.000%, due 5/15/28	​	​	44,000	​	​	42,580
8.625%, due 7/1/25	​	​	41,000	​	​	42,121
Tenneco, Inc.	​	​	​	​	​	​
5.125%, due 4/15/29	​	​	37,000	​	​	36,576
Travel + Leisure Co.	​	​	​	​	​	​
6.625%, due 7/31/26	​	​	46,000	​	​	44,791
Yum! Brands, Inc.	​	​	​	​	​	​
3.625%, due 3/15/31	​	​	29,000	​	​	23,273
4.625%, due 1/31/32	​	​	29,000	​	​	24,796
4.750%, due 1/15/30	​	​	72,000	​	​	64,350
5.375%, due 4/1/32	​	​	45,000	​	​	40,251
​	​	​	​	​	​	2,478,443
Consumer Staples — 5.3%
Central Garden & Pet Co.	​	​	​	​	​	​
4.125%, due 10/15/30	​	​	26,000	​	​	21,491
Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International US LLC	​	​	​	​	​	​
4.750%, due 1/15/29	​	​	63,000	​	​	54,709
Darling Ingredients, Inc.	​	​	​	​	​	​
6.000%, due 6/15/30	​	​	80,000	​	​	77,000

See notes to financial statements.

42

Schedule of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)

October 31, 2022 (unaudited)

​	Principal Amount			Value
Corporate Bonds (continued)
Consumer Staples (continued)
Edgewell Personal Care Co.	​	​	​	​	​	​
4.125%, due 4/1/29	​	$	31,000	​	$	26,476
5.500%, due 6/1/28	​	​	22,000	​	​	20,692
Lamb Weston Holdings, Inc.	​	​	​	​	​	​
4.125%, due 1/31/30	​	​	18,000	​	​	15,713
4.375%, due 1/31/32	​	​	44,000	​	​	37,785
4.875%, due 5/15/28	​	​	29,000	​	​	26,957
Mattel, Inc.	​	​	​	​	​	​
3.375%, due 4/1/26	​	​	23,000	​	​	20,979
3.750%, due 4/1/29	​	​	19,000	​	​	16,396
5.875%, due 12/15/27	​	​	26,000	​	​	25,230
Newell Brands, Inc.	​	​	​	​	​	​
4.450%, due 4/1/26	​	​	64,000	​	​	59,555
4.875%, due 6/1/25	​	​	78,000	​	​	75,306
6.625%, due 9/15/29	​	​	17,000	​	​	16,617
Performance Food Group, Inc.	​	​	​	​	​	​
4.250%, due 8/1/29	​	​	41,000	​	​	34,734
5.500%, due 10/15/27	​	​	36,000	​	​	34,028
Pilgrim’s Pride Corp.	​	​	​	​	​	​
3.500%, due 3/1/32	​	​	43,000	​	​	32,926
4.250%, due 4/15/31	​	​	50,000	​	​	41,641
Post Holdings, Inc.	​	​	​	​	​	​
4.500%, due 9/15/31	​	​	140,000	​	​	115,808
5.500%, due 12/15/29	​	​	80,000	​	​	71,994
Tempur Sealy International, Inc.	​	​	​	​	​	​
3.875%, due 10/15/31	​	​	23,000	​	​	17,270
4.000%, due 4/15/29	​	​	55,000	​	​	44,229
US Foods, Inc.	​	​	​	​	​	​
4.625%, due 6/1/30	​	​	27,000	​	​	23,423
4.750%, due 2/15/29	​	​	39,000	​	​	34,564
6.250%, due 4/15/25	​	​	23,000	​	​	22,889
​	​	​	​	​	​	968,412
Energy — 14.3%
Antero Midstream Partners LP / Antero Midstream Finance Corp.	​	​	​	​	​	​
5.750%, due 3/1/27	​	​	44,000	​	​	41,901
7.875%, due 5/15/26	​	​	71,000	​	​	72,420
Antero Resources Corp.	​	​	​	​	​	​
5.375%, due 3/1/30	​	​	26,000	​	​	24,033
7.625%, due 2/1/29	​	​	17,000	​	​	17,340
Apache Corp.	​	​	​	​	​	​
4.250%, due 1/15/30	​	​	58,000	​	​	51,603
5.100%, due 9/1/40	​	​	39,000	​	​	31,579
Ascent Resources Utica Holdings LLC / Aru Finance Corp.	​	​	​	​	​	​
7.000%, due 11/1/26	​	​	31,000	​	​	30,535
Buckeye Partners LP	​	​	​	​	​	​
4.125%, due 3/1/25	​	​	42,000	​	​	39,585
Cheniere Energy Partners LP	​	​	​	​	​	​
3.250%, due 1/31/32	​	​	36,000	​	​	28,014
4.000%, due 3/1/31	​	​	77,000	​	​	64,918
4.500%, due 10/1/29	​	​	48,000	​	​	42,382

​	Principal Amount			Value
Corporate Bonds (continued)
Energy (continued)
Cheniere Energy, Inc.	​	​	​	​	​	​
4.625%, due 10/15/28	​	$	77,000	​	$	71,032
Chesapeake Energy Corp.	​	​	​	​	​	​
5.500%, due 2/1/26	​	​	25,000	​	​	24,231
CITGO Petroleum Corp.	​	​	​	​	​	​
6.375%, due 6/15/26	​	​	17,000	​	​	16,743
CNX Resources Corp.	​	​	​	​	​	​
6.000%, due 1/15/29	​	​	30,000	​	​	28,005
Colgate Energy Partners III LLC	​	​	​	​	​	​
5.875%, due 7/1/29	​	​	22,000	​	​	20,510
Comstock Resources, Inc.	​	​	​	​	​	​
6.750%, due 3/1/29	​	​	76,000	​	​	72,770
CQP Holdco LP / BIP-V Chinook Holdco LLC	​	​	​	​	​	​
5.500%, due 6/15/31	​	​	68,000	​	​	60,350
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp.	​	​	​	​	​	​
5.625%, due 5/1/27	​	​	22,000	​	​	20,693
6.000%, due 2/1/29	​	​	17,000	​	​	15,897
8.000%, due 4/1/29	​	​	33,000	​	​	33,000
CrownRock LP / CrownRock Finance, Inc.	​	​	​	​	​	​
5.625%, due 10/15/25	​	​	32,000	​	​	30,950
DT Midstream, Inc.	​	​	​	​	​	​
4.125%, due 6/15/29	​	​	44,000	​	​	38,038
4.375%, due 6/15/31	​	​	27,000	​	​	22,747
Endeavor Energy Resources LP / EER Finance, Inc.	​	​	​	​	​	​
5.750%, due 1/30/28	​	​	49,000	​	​	47,626
EnLink Midstream LLC	​	​	​	​	​	​
5.375%, due 6/1/29	​	​	54,000	​	​	49,853
6.500%, due 9/1/30	​	​	36,000	​	​	35,370
EQM Midstream Partners LP	​	​	​	​	​	​
4.500%, due 1/15/29	​	​	99,000	​	​	84,150
4.750%, due 1/15/31	​	​	38,000	​	​	31,757
Hess Midstream Operations LP	​	​	​	​	​	​
4.250%, due 2/15/30	​	​	43,000	​	​	36,771
5.125%, due 6/15/28	​	​	31,000	​	​	28,520
5.625%, due 2/15/26	​	​	17,000	​	​	16,673
Hilcorp Energy I LP / Hilcorp Finance Co.	​	​	​	​	​	​
6.000%, due 4/15/30	​	​	83,000	​	​	75,157
6.000%, due 2/1/31	​	​	18,000	​	​	16,334
6.250%, due 11/1/28	​	​	17,000	​	​	15,980
Kinetik Holdings LP	​	​	​	​	​	​
5.875%, due 6/15/30	​	​	59,000	​	​	55,352
Matador Resources Co.	​	​	​	​	​	​
5.875%, due 9/15/26	​	​	59,000	​	​	57,968
Murphy Oil Corp.	​	​	​	​	​	​
6.375%, due 7/15/28	​	​	59,000	​	​	57,725
NuStar Logistics LP	​	​	​	​	​	​
6.000%, due 6/1/26	​	​	17,000	​	​	16,483
Occidental Petroleum Corp.	​	​	​	​	​	​
5.550%, due 3/15/26	​	​	72,000	​	​	73,080
6.200%, due 3/15/40	​	​	92,000	​	​	88,508

See notes to financial statements.

43​

Schedule of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)

October 31, 2022 (unaudited)

​	Principal Amount			Value
Corporate Bonds (continued)
Energy (continued)
6.450%, due 9/15/36	​	$	78,000	​	$	77,374
8.000%, due 7/15/25	​	​	17,000	​	​	17,945
8.500%, due 7/15/27	​	​	129,000	​	​	140,255
8.875%, due 7/15/30	​	​	50,000	​	​	56,750
Range Resources Corp.	​	​	​	​	​	​
4.750%, due 2/15/30	​	​	56,000	​	​	49,505
Rockies Express Pipeline LLC	​	​	​	​	​	​
4.950%, due 7/15/29	​	​	43,000	​	​	37,723
Southwestern Energy Co.	​	​	​	​	​	​
4.750%, due 2/1/32	​	​	21,000	​	​	18,127
5.375%, due 2/1/29	​	​	60,000	​	​	55,950
5.375%, due 3/15/30	​	​	61,000	​	​	56,425
Sunoco LP / Sunoco Finance Corp.	​	​	​	​	​	​
4.500%, due 5/15/29	​	​	82,000	​	​	70,430
6.000%, due 4/15/27	​	​	20,000	​	​	19,596
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp.	​	​	​	​	​	​
6.000%, due 12/31/30	​	​	45,000	​	​	40,735
7.500%, due 10/1/25	​	​	17,000	​	​	17,169
Venture Global Calcasieu Pass LLC	​	​	​	​	​	​
3.875%, due 8/15/29	​	​	19,000	​	​	16,293
3.875%, due 11/1/33	​	​	26,000	​	​	20,865
4.125%, due 8/15/31	​	​	128,000	​	​	109,124
Weatherford International Ltd.	​	​	​	​	​	​
6.500%, due 9/15/28	​	​	24,000	​	​	22,920
Western Midstream Operating LP	​	​	​	​	​	​
4.300%, due 2/1/30	​	​	50,000	​	​	43,990
5.300%, due 3/1/48	​	​	46,000	​	​	37,145
​	​	​	​	​	​	2,594,904
Financials — 4.1%
Alliant Holdings Intermediate LLC / Alliant Holdings Co.-Issuer	​	​	​	​	​	​
4.250%, due 10/15/27	​	���	29,000	​	​	26,103
Block, Inc.	​	​	​	​	​	​
2.750%, due 6/1/26	​	​	94,000	​	​	83,833
FirstCash, Inc.	​	​	​	​	​	​
4.625%, due 9/1/28	​	​	24,000	​	​	20,655
5.625%, due 1/1/30	​	​	18,000	​	​	15,867
HUB International Ltd.	​	​	​	​	​	​
7.000%, due 5/1/26	​	​	60,000	​	​	59,250
Icahn Enterprises LP / Icahn Enterprises Finance Corp.	​	​	​	​	​	​
4.375%, due 2/1/29	​	​	22,000	​	​	18,367
4.750%, due 9/15/24	​	​	44,000	​	​	42,818
5.250%, due 5/15/27	​	​	67,000	​	​	61,733
6.375%, due 12/15/25	​	​	102,000	​	​	99,016
LPL Holdings, Inc.	​	​	​	​	​	​
4.000%, due 3/15/29	​	​	39,000	​	​	34,039
MSCI, Inc.	​	​	​	​	​	​
3.625%, due 9/1/30	​	​	24,000	​	​	20,054
3.875%, due 2/15/31	​	​	60,000	​	​	50,557
4.000%, due 11/15/29	​	​	102,000	​	​	88,569

​	Principal Amount			Value
Corporate Bonds (continued)
Financials (continued)
NFP Corp.	​	​	​	​	​	​
4.875%, due 8/15/28	​	$	19,000	​	$	16,392
Rocket Mortgage LLC / Rocket Mortgage Co.-Issuer, Inc.	​	​	​	​	​	​
2.875%, due 10/15/26	​	​	61,000	​	​	50,900
SLM Corp.	​	​	​	​	​	​
4.200%, due 10/29/25	​	​	62,000	​	​	57,565
​	​	​	​	​	​	745,718
Health Care — 8.2%
AdaptHealth LLC	​	​	​	​	​	​
5.125%, due 3/1/30	​	​	30,000	​	​	26,025
Avantor Funding, Inc.	​	​	​	​	​	​
4.625%, due 7/15/28	​	​	96,000	​	​	86,756
Catalent Pharma Solutions, Inc.	​	​	​	​	​	​
3.125%, due 2/15/29	​	​	53,000	​	​	43,370
5.000%, due 7/15/27	​	​	23,000	​	​	21,624
Charles River Laboratories International, Inc.	​	​	​	​	​	​
3.750%, due 3/15/29	​	​	25,000	​	​	21,625
4.250%, due 5/1/28	​	​	25,000	​	​	22,742
Encompass Health Corp.	​	​	​	​	​	​
4.500%, due 2/1/28	​	​	26,000	​	​	23,267
4.750%, due 2/1/30	​	​	39,000	​	​	33,248
Hologic, Inc.	​	​	​	​	​	​
3.250%, due 2/15/29	​	​	52,000	​	​	44,190
IQVIA, Inc.	​	​	​	​	​	​
5.000%, due 10/15/26	​	​	17,000	​	​	16,206
5.000%, due 5/15/27	​	​	69,000	​	​	65,749
Jazz Securities DAC	​	​	​	​	​	​
4.375%, due 1/15/29	​	​	68,000	​	​	60,350
Medline Borrower LP	​	​	​	​	​	​
3.875%, due 4/1/29	​	​	198,000	​	​	161,766
Molina Healthcare, Inc.	​	​	​	​	​	​
3.875%, due 11/15/30	​	​	26,000	​	​	22,095
3.875%, due 5/15/32	​	​	26,000	​	​	21,684
4.375%, due 6/15/28	​	​	43,000	​	​	38,565
Organon & Co. / Organon Foreign Debt Co.-Issuer BV	​	​	​	​	​	​
5.125%, due 4/30/31	​	​	75,000	​	​	63,695
Organon & Co. / Organon Foreign Debt Co-Issuer BV	​	​	​	​	​	​
4.125%, due 4/30/28	​	​	85,000	​	​	74,870
Perrigo Finance Unlimited Co.	​	​	​	​	​	​
4.400%, due 6/15/30	​	​	38,000	​	​	31,754
Prestige Brands, Inc.	​	​	​	​	​	​
3.750%, due 4/1/31	​	​	26,000	​	​	20,852
Service Corp. International	​	​	​	​	​	​
3.375%, due 8/15/30	​	​	60,000	​	​	48,433
4.000%, due 5/15/31	​	​	30,000	​	​	24,898
4.625%, due 12/15/27	​	​	26,000	​	​	24,090
5.125%, due 6/1/29	​	​	28,000	​	​	26,081

See notes to financial statements.

44

Schedule of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)

October 31, 2022 (unaudited)

​	Principal Amount			Value
Corporate Bonds (continued)
Health Care (continued)
Teleflex, Inc.	​	​	​	​	​	​
4.250%, due 6/1/28	​	$	26,000	​	$	23,525
4.625%, due 11/15/27	​	​	26,000	​	​	24,501
Tenet Healthcare Corp.	​	​	​	​	​	​
4.250%, due 6/1/29	​	​	44,000	​	​	37,070
4.375%, due 1/15/30	​	​	48,000	​	​	40,272
4.625%, due 7/15/24	​	​	29,000	​	​	28,275
4.625%, due 9/1/24	​	​	58,000	​	​	55,989
4.625%, due 6/15/28	​	​	44,000	​	​	38,610
4.875%, due 1/1/26	​	​	60,000	​	​	56,700
5.125%, due 11/1/27	​	​	129,000	​	​	118,841
6.125%, due 6/15/30	​	​	43,000	​	​	39,695
​	​	​	​	​	​	1,487,413
Industrials — 10.4%
ADT Security Corp. (The)	​	​	​	​	​	​
4.125%, due 8/1/29	​	​	52,000	​	​	44,591
American Builders & Contractors Supply Co., Inc.	​	​	​	​	​	​
4.000%, due 1/15/28	​	​	25,000	​	​	22,060
APX Group, Inc.	​	​	​	​	​	​
6.750%, due 2/15/27	​	​	17,000	​	​	16,584
Aramark Services, Inc.	​	​	​	​	​	​
5.000%, due 2/1/28	​	​	61,000	​	​	55,577
6.375%, due 5/1/25	​	​	63,000	​	​	62,323
Builders FirstSource, Inc.	​	​	​	​	​	​
4.250%, due 2/1/32	​	​	48,000	​	​	38,410
5.000%, due 3/1/30	​	​	49,000	​	​	42,083
Camelot Finance SA	​	​	​	​	​	​
4.500%, due 11/1/26	​	​	26,000	​	​	24,291
Century Communities, Inc.	​	​	​	​	​	​
6.750%, due 6/1/27	​	​	25,000	​	​	23,865
Clarivate Science Holdings Corp.	​	​	​	​	​	​
3.875%, due 7/1/28	​	​	25,000	​	​	21,439
Gartner, Inc.	​	​	​	​	​	​
3.625%, due 6/15/29	​	​	19,000	​	​	16,150
3.750%, due 10/1/30	​	​	43,000	​	​	36,120
4.500%, due 7/1/28	​	​	29,000	​	​	26,875
Grand Canyon University	​	​	​	​	​	​
4.125%, due 10/1/24	​	​	26,000	​	​	24,375
H&E Equipment Services, Inc.	​	​	​	​	​	​
3.875%, due 12/15/28	​	​	44,000	​	​	37,179
Herc Holdings, Inc.	​	​	​	​	​	​
5.500%, due 7/15/27	​	​	42,000	​	​	39,742
Howmet Aerospace, Inc.	​	​	​	​	​	​
3.000%, due 1/15/29	​	​	45,000	​	​	37,457
5.125%, due 10/1/24	​	​	44,000	​	​	43,450
6.875%, due 5/1/25	​	​	35,000	​	​	35,777
Madison IAQ LLC	​	​	​	​	​	​
4.125%, due 6/30/28	​	​	20,000	​	​	16,550
Picasso Finance Sub, Inc.	​	​	​	​	​	​
6.125%, due 6/15/25	​	​	17,000	​	​	16,967

​	Principal Amount			Value
Corporate Bonds (continued)
Industrials (continued)
Prime Security Services Borrower LLC / Prime Finance, Inc.	​	​	​	​	​	​
3.375%, due 8/31/27	​	$	33,000	​	$	28,561
5.250%, due 4/15/24	​	​	55,000	​	​	54,739
5.750%, due 4/15/26	​	​	56,000	​	​	54,508
Spirit AeroSystems, Inc.	​	​	​	​	​	​
5.500%, due 1/15/25	​	​	31,000	​	​	29,915
SRS Distribution, Inc.	​	​	​	​	​	​
4.625%, due 7/1/28	​	​	44,000	​	​	38,634
Stericycle, Inc.	​	​	​	​	​	​
3.875%, due 1/15/29	​	​	38,000	​	​	33,006
Summit Materials LLC / Summit Materials Finance Corp.	​	​	​	​	​	​
5.250%, due 1/15/29	​	​	31,000	​	​	28,310
Taylor Morrison Communities, Inc.	​	​	​	​	​	​
5.875%, due 6/15/27	​	​	17,000	​	​	15,942
TransDigm, Inc.	​	​	​	​	​	​
4.875%, due 5/1/29	​	​	105,000	​	​	89,277
6.250%, due 3/15/26	​	​	242,000	​	​	238,711
Uber Technologies, Inc.	​	​	​	​	​	​
4.500%, due 8/15/29	​	​	52,000	​	​	44,574
6.250%, due 1/15/28	​	​	63,000	​	​	59,850
7.500%, due 9/15/27	​	​	61,000	​	​	60,986
8.000%, due 11/1/26	​	​	90,000	​	​	90,333
United Rentals North America, Inc.	​	​	​	​	​	​
3.750%, due 1/15/32	​	​	56,000	​	​	45,360
3.875%, due 2/15/31	​	​	29,000	​	​	24,041
4.000%, due 7/15/30	​	​	44,000	​	​	37,455
4.875%, due 1/15/28	​	​	60,000	​	​	55,800
5.250%, due 1/15/30	​	​	26,000	​	​	24,115
WESCO Distribution, Inc.	​	​	​	​	​	​
7.125%, due 6/15/25	​	​	97,000	​	​	97,941
7.250%, due 6/15/28	​	​	33,000	​	​	33,477
Williams Scotsman International, Inc.	​	​	​	​	​	​
4.625%, due 8/15/28	​	​	23,000	​	​	20,772
​	​	​	​	​	​	1,888,172
Information Technology — 4.9%
Black Knight InfoServ LLC	​	​	​	​	​	​
3.625%, due 9/1/28	​	​	44,000	​	​	38,115
Booz Allen Hamilton, Inc.	​	​	​	​	​	​
4.000%, due 7/1/29	​	​	43,000	​	​	37,587
Clarios Global LP / Clarios US Finance Co.	​	​	​	​	​	​
6.250%, due 5/15/26	​	​	43,000	​	​	41,602
CommScope, Inc.	​	​	​	​	​	​
4.750%, due 9/1/29	​	​	51,000	​	​	43,138
6.000%, due 3/1/26	​	​	50,000	​	​	48,228
Entegris Escrow Corp.	​	​	​	​	​	​
5.950%, due 6/15/30	​	​	56,000	​	​	51,100
Fair Isaac Corp.	​	​	​	​	​	​
4.000%, due 6/15/28	​	​	51,000	​	​	46,147

See notes to financial statements.

45​

Schedule of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)

October 31, 2022 (unaudited)

​	Principal Amount			Value
Corporate Bonds (continued)
Information Technology (continued)
Go Daddy Operating Co. LLC / GD Finance Co., Inc.	​	​	​	​	​	​
3.500%, due 3/1/29	​	$	44,000	​	$	36,491
Imola Merger Corp.	​	​	​	​	​	​
4.750%, due 5/15/29	​	​	80,000	​	​	68,976
NCR Corp.	​	​	​	​	​	​
5.750%, due 9/1/27	​	​	38,000	​	​	36,670
NortonLifeLock, Inc.	​	​	​	​	​	​
5.000%, due 4/15/25	​	​	31,000	​	​	30,083
6.750%, due 9/30/27	​	​	61,000	​	​	60,133
7.125%, due 9/30/30	​	​	17,000	​	​	16,711
Presidio Holdings, Inc.	​	​	​	​	​	​
4.875%, due 2/1/27	​	​	18,000	​	​	16,621
PTC, Inc.	​	​	​	​	​	​
4.000%, due 2/15/28	​	​	26,000	​	​	23,549
Seagate HDD Cayman	​	​	​	​	​	​
3.125%, due 7/15/29	​	​	34,000	​	​	25,141
3.375%, due 7/15/31	​	​	34,000	​	​	24,267
4.875%, due 3/1/24	​	​	36,000	​	​	35,093
Sensata Technologies BV	​	​	​	​	​	​
4.000%, due 4/15/29	​	​	29,000	​	​	24,424
5.875%, due 9/1/30	​	​	22,000	​	​	20,900
Sensata Technologies, Inc.	​	​	​	​	​	​
3.750%, due 2/15/31	​	​	31,000	​	​	24,684
4.375%, due 2/15/30	​	​	26,000	​	​	22,365
SS&C Technologies, Inc.	​	​	​	​	​	​
5.500%, due 9/30/27	​	​	95,000	​	​	88,330
Twilio, Inc.	​	​	​	​	​	​
3.875%, due 3/15/31(a)	​	​	44,000	​	​	35,884
​	​	​	​	​	​	896,239
Materials — 4.8%
Arconic Corp.	​	​	​	​	​	​
6.000%, due 5/15/25	​	​	45,000	​	​	44,559
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC	​	​	​	​	​	​
3.250%, due 9/1/28	​	​	54,000	​	​	44,275
Avient Corp.	​	​	​	​	​	​
5.750%, due 5/15/25	​	​	44,000	​	​	43,072
7.125%, due 8/1/30	​	​	17,000	​	​	16,257
Axalta Coating Systems LLC	​	​	​	​	​	​
3.375%, due 2/15/29	​	​	46,000	​	​	37,806
Axalta Coating Systems LLC / Axalta Coating Systems Dutch Holding B BV	​	​	​	​	​	​
4.750%, due 6/15/27(a)	​	​	18,000	​	​	16,402
Ball Corp.	​	​	​	​	​	​
2.875%, due 8/15/30	​	​	27,000	​	​	20,968
3.125%, due 9/15/31	​	​	40,000	​	​	30,628
4.000%, due 11/15/23	​	​	26,000	​	​	25,460
4.875%, due 3/15/26	​	​	26,000	​	​	24,948
5.250%, due 7/1/25	​	​	78,000	​	​	76,987
Berry Global, Inc.	​	​	​	​	​	​
5.625%, due 7/15/27	​	​	23,000	​	​	21,814

​	Principal Amount			Value
Corporate Bonds (continued)
Materials (continued)
Cleveland-Cliffs, Inc.	​	​	​	​	​	​
5.875%, due 6/1/27	​	$	27,000	​	$	25,110
6.750%, due 3/15/26	​	​	17,000	​	​	16,873
Clydesdale Acquisition Holdings, Inc.	​	​	​	​	​	​
6.625%, due 4/15/29	​	​	27,000	​	​	25,634
Crown Americas LLC	​	​	​	​	​	​
5.250%, due 4/1/30	​	​	27,000	​	​	24,702
Crown Americas LLC / Crown Americas Capital Corp. VI	​	​	​	​	​	​
4.750%, due 2/1/26	​	​	35,000	​	​	33,499
Kaiser Aluminum Corp.	​	​	​	​	​	​
4.625%, due 3/1/28	​	​	23,000	​	​	20,120
Novelis Corp.	​	​	​	​	​	​
3.250%, due 11/15/26	​	​	44,000	​	​	38,510
3.875%, due 8/15/31	​	​	26,000	​	​	20,142
4.750%, due 1/30/30	​	​	60,000	​	​	50,973
Olin Corp.	​	​	​	​	​	​
5.000%, due 2/1/30	​	​	38,000	​	​	34,390
5.625%, due 8/1/29	​	​	26,000	​	​	24,435
Pactiv Evergreen Group Issuer LLC / Pactiv Evergreen Group Issuer, Inc.	​	​	​	​	​	​
4.375%, due 10/15/28	​	​	32,000	​	​	28,000
Pactiv Evergreen Group Issuer, Inc. / Pactiv Evergreen Group Issuer LLC	​	​	​	​	​	​
4.000%, due 10/15/27	​	​	21,000	​	​	18,585
Sealed Air Corp.	​	​	​	​	​	​
4.000%, due 12/1/27	​	​	49,000	​	​	43,643
Valvoline, Inc.	​	​	​	​	​	​
3.625%, due 6/15/31	​	​	44,000	​	​	34,716
WR Grace Holdings LLC	​	​	​	​	​	​
4.875%, due 6/15/27	​	​	23,000	​	​	20,125
​	​	​	​	​	​	862,633
Media — 10.8%
CCO Holdings LLC / CCO Holdings Capital Corp.	​	​	​	​	​	​
4.250%, due 2/1/31	​	​	77,000	​	​	60,830
4.250%, due 1/15/34	​	​	38,000	​	​	27,930
4.500%, due 8/15/30	​	​	95,000	​	​	77,098
4.500%, due 5/1/32	​	​	110,000	​	​	86,900
4.500%, due 6/1/33	​	​	38,000	​	​	28,816
4.750%, due 3/1/30	​	​	96,000	​	​	80,678
5.000%, due 2/1/28	​	​	176,000	​	​	159,280
5.375%, due 6/1/29	​	​	27,000	​	​	24,121
Clear Channel Outdoor Holdings, Inc.	​	​	​	​	​	​
5.125%, due 8/15/27	​	​	35,000	​	​	31,500
CSC Holdings LLC	​	​	​	​	​	​
3.375%, due 2/15/31	​	​	31,000	​	​	22,475
4.125%, due 12/1/30	​	​	25,000	​	​	19,669
5.375%, due 2/1/28	​	​	101,000	​	​	93,172
5.500%, due 4/15/27	​	​	46,000	​	​	43,125
Gray Television, Inc.	​	​	​	​	​	​
7.000%, due 5/15/27	​	​	17,000	​	​	16,192

See notes to financial statements.

46

Schedule of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)

October 31, 2022 (unaudited)

​	Principal Amount			Value
Corporate Bonds (continued)
Media (continued)
Lamar Media Corp.	​	​	​	​	​	​
3.625%, due 1/15/31	​	$	26,000	​	$	21,190
3.750%, due 2/15/28	​	​	25,000	​	​	21,940
4.000%, due 2/15/30	​	​	26,000	​	​	22,077
Live Nation Entertainment, Inc.	​	​	​	​	​	​
3.750%, due 1/15/28	​	​	89,000	​	​	77,453
6.500%, due 5/15/27	​	​	17,000	​	​	16,908
Match Group Holdings II LLC	​	​	​	​	​	​
3.625%, due 10/1/31	​	​	25,000	​	​	19,057
4.125%, due 8/1/30	​	​	58,000	​	​	47,386
News Corp.	​	​	​	​	​	​
3.875%, due 5/15/29	​	​	60,000	​	​	51,570
Nexstar Media, Inc.	​	​	​	​	​	​
4.750%, due 11/1/28	​	​	65,000	​	​	57,044
5.625%, due 7/15/27	​	​	39,000	​	​	36,836
ROBLOX Corp.	​	​	​	​	​	​
3.875%, due 5/1/30	​	​	25,000	​	​	20,625
Scripps Escrow II, Inc.	​	​	​	​	​	​
3.875%, due 1/15/29	​	​	26,000	​	​	21,472
Sinclair Television Group, Inc.	​	​	​	​	​	​
4.125%, due 12/1/30	​	​	21,000	​	​	16,172
Sirius XM Radio, Inc.	​	​	​	​	​	​
3.125%, due 9/1/26	​	​	37,000	​	​	33,063
3.875%, due 9/1/31	​	​	108,000	​	​	86,400
4.000%, due 7/15/28	​	​	42,000	​	​	36,106
4.125%, due 7/1/30	​	​	56,000	​	​	45,824
5.000%, due 8/1/27	​	​	77,000	​	​	70,840
5.500%, due 7/1/29	​	​	50,000	​	​	46,115
TEGNA, Inc.	​	​	​	​	​	​
4.625%, due 3/15/28	​	​	77,000	​	​	73,294
4.750%, due 3/15/26	​	​	40,000	​	​	38,857
Twitter, Inc.	​	​	​	​	​	​
5.000%, due 3/1/30	​	​	61,000	​	​	61,335
Univision Communications, Inc.	​	​	​	​	​	​
4.500%, due 5/1/29	​	​	44,000	​	​	37,043
5.125%, due 2/15/25	​	​	132,000	​	​	127,545
6.625%, due 6/1/27	​	​	31,000	​	​	30,613
7.375%, due 6/30/30	​	​	17,000	​	​	16,448
WMG Acquisition Corp.	​	​	​	​	​	​
3.000%, due 2/15/31	​	​	33,000	​	​	25,753
3.875%, due 7/15/30	​	​	43,000	​	​	36,747
​	​	​	​	​	​	1,967,499
Real Estate — 3.6%
Iron Mountain, Inc.	​	​	​	​	​	​
4.500%, due 2/15/31	​	​	136,000	​	​	110,159
4.875%, due 9/15/27	​	​	30,000	​	​	27,743
4.875%, due 9/15/29	​	​	77,000	​	​	66,201
5.000%, due 7/15/28	​	​	26,000	​	​	23,260
5.250%, due 3/15/28	​	​	18,000	​	​	16,560
5.250%, due 7/15/30	​	​	37,000	​	​	31,924
iStar, Inc.	​	​	​	​	​	​
4.750%, due 10/1/24	​	​	47,000	​	​	46,408

​	Principal Amount			Value
Corporate Bonds (continued)
Real Estate (continued)
Outfront Media Capital LLC / Outfront Media Capital Corp.	​	​	​	​	​	​
5.000%, due 8/15/27	​	$	28,000	​	$	25,206
RHP Hotel Properties LP / RHP Finance Corp.	​	​	​	​	​	​
4.500%, due 2/15/29	​	​	38,000	​	​	33,345
4.750%, due 10/15/27	​	​	26,000	​	​	23,999
RLJ Lodging Trust LP	​	​	​	​	​	​
3.750%, due 7/1/26	​	​	21,000	​	​	19,177
4.000%, due 9/15/29	​	​	30,000	​	​	25,137
SBA Communications Corp.	​	​	​	​	​	​
3.125%, due 2/1/29	​	​	93,000	​	​	75,165
3.875%, due 2/15/27	​	​	42,000	​	​	37,800
Starwood Property Trust, Inc.	​	​	​	​	​	​
4.750%, due 3/15/25	​	​	28,000	​	​	26,232
XHR LP	​	​	​	​	​	​
4.875%, due 6/1/29	​	​	22,000	​	​	18,979
6.375%, due 8/15/25	​	​	38,000	​	​	37,241
​	​	​	​	​	​	644,536
Telecommunication Services — 3.9%
Cablevision Lightpath LLC	​	​	​	​	​	​
3.875%, due 9/15/27	​	​	19,000	​	​	16,154
Frontier Communications Holdings LLC	​	​	​	​	​	​
5.875%, due 10/15/27	​	​	121,000	​	​	111,299
Level 3 Financing, Inc.	​	​	​	​	​	​
3.400%, due 3/1/27	​	​	36,000	​	​	30,991
Sprint Capital Corp.	​	​	​	​	​	​
6.875%, due 11/15/28	​	​	160,000	​	​	165,117
8.750%, due 3/15/32	​	​	26,000	​	​	30,515
Sprint Corp.	​	​	​	​	​	​
7.125%, due 6/15/24	​	​	44,000	​	​	44,482
7.625%, due 2/15/25	​	​	77,000	​	​	79,117
7.625%, due 3/1/26	​	​	154,000	​	​	160,738
7.875%, due 9/15/23	​	​	65,000	​	​	66,066
​	​	​	​	​	​	704,479
Transportation — 3.0%
American Airlines, Inc./AAdvantage Loyalty IP Ltd.	​	​	​	​	​	​
5.500%, due 4/20/26	​	​	158,000	​	​	150,467
5.750%, due 4/20/29	​	​	105,000	​	​	95,550
Delta Air Lines, Inc.	​	​	​	​	​	​
2.900%, due 10/28/24	​	​	43,000	​	​	40,635
4.375%, due 4/19/28	​	​	57,000	​	​	50,843
7.375%, due 1/15/26	​	​	32,000	​	​	32,672
United Airlines, Inc.	​	​	​	​	​	​
4.375%, due 4/15/26	​	​	79,000	​	​	72,100
4.625%, due 4/15/29	​	​	114,000	​	​	97,503
​	​	​	​	​	​	539,770
Utilities — 4.6%
Calpine Corp.	​	​	​	​	​	​
3.750%, due 3/1/31	​	​	34,000	​	​	27,855
4.500%, due 2/15/28	​	​	61,000	​	​	54,820

See notes to financial statements.

47​

Schedule of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)

October 31, 2022 (unaudited)

​	Principal Amount			Value
Corporate Bonds (continued)
Utilities (continued)
Clearway Energy Operating LLC	​	​	​	​	​	​
3.750%, due 2/15/31	​	$	57,000	​	$	47,595
4.750%, due 3/15/28	​	​	23,000	​	​	21,245
FirstEnergy Corp.	​	​	​	​	​	​
2.650%, due 3/1/30	​	​	40,000	​	​	32,337
Series B, 4.400%, due 7/15/27	​	​	80,000	​	​	75,129
Series C, 3.400%, due 3/1/50	​	​	36,000	​	​	22,365
NextEra Energy Operating Partners LP	​	​	​	​	​	​
3.875%, due 10/15/26	​	​	25,000	​	​	23,174
4.250%, due 7/15/24	​	​	34,000	​	​	32,964
NRG Energy, Inc.	​	​	​	​	​	​
3.375%, due 2/15/29	​	​	26,000	​	​	21,657
3.625%, due 2/15/31	​	​	42,000	​	​	33,422
3.875%, due 2/15/32	​	​	43,000	​	​	33,903
5.250%, due 6/15/29	​	​	28,000	​	​	25,410
5.750%, due 1/15/28	​	​	26,000	​	​	24,797
PG&E Corp.	​	​	​	​	​	​
5.250%, due 7/1/30	​	​	101,000	​	​	89,435
Suburban Propane Partners LP/Suburban Energy Finance Corp.	​	​	​	​	​	​
5.000%, due 6/1/31	​	​	38,000	​	​	31,944
TerraForm Power Operating LLC	​	​	​	​	​	​
5.000%, due 1/31/28	​	​	59,000	​	​	54,655
Vistra Operations Co. LLC	​	​	​	​	​	​
4.375%, due 5/1/29	​	​	44,000	​	​	37,632
5.000%, due 7/31/27	​	​	55,000	​	​	50,738
5.500%, due 9/1/26	​	​	85,000	​	​	81,600
5.625%, due 2/15/27	​	​	17,000	​	​	16,206
​	​	​	​	​	​	838,883
Total Corporate Bonds (Cost $18,171,052)	​	​	​	​	​	16,617,101
Foreign Bonds — 6.1%
Consumer Discretionary — 1.2%
1011778 BC ULC / New Red Finance, Inc., (Canada)	​	​	​	​	​	​
3.500%, due 2/15/29	​	​	43,000	​	​	36,013
3.875%, due 1/15/28	​	​	49,000	​	​	43,067
4.000%, due 10/15/30	​	​	124,000	​	​	101,215
4.375%, due 1/15/28	​	​	23,000	​	​	20,174
5.750%, due 4/15/25	​	​	23,000	​	​	22,914
​	​	​	​	​	​	223,383
Consumer Staples — 0.1%
Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc., (Canada)	​	​	​	​	​	​
5.000%, due 12/31/26	​	​	18,000	​	​	16,317
Energy — 1.2%
MEG Energy Corp., (Canada)	​	​	​	​	​	​
5.875%, due 2/1/29	​	​	56,000	​	​	53,460
7.125%, due 2/1/27	​	​	17,000	​	​	17,298
Methanex Corp., (Canada)	​	​	​	​	​	​
5.125%, due 10/15/27	​	​	51,000	​	​	46,512

​	Principal Amount			Value
Foreign Bonds (continued)
Energy (continued)
Parkland Corp., (Canada)	​	​	​	​	​	​
4.625%, due 5/1/30	​	$	76,000	​	$	63,218
5.875%, due 7/15/27	​	​	34,000	​	​	31,945
​	​	​	​	​	​	212,433
Industrials — 1.0%
GFL Environmental, Inc., (Canada)	​	​	​	​	​	​
3.500%, due 9/1/28	​	​	26,000	​	​	22,043
3.750%, due 8/1/25	​	​	32,000	​	​	30,240
4.000%, due 8/1/28	​	​	52,000	​	​	45,001
4.750%, due 6/15/29	​	​	48,000	​	​	41,836
5.125%, due 12/15/26	​	​	41,000	​	​	39,027
​	​	​	​	​	​	178,147
Information Technology — 0.6%
Open Text Corp., (Canada)	​	​	​	​	​	​
3.875%, due 2/15/28	​	​	25,000	​	​	21,398
Open Text Holdings, Inc., (Canada)	​	​	​	​	​	​
4.125%, due 2/15/30	​	​	115,000	​	​	91,569
​	​	​	​	​	​	112,967
Materials — 0.6%
FMG Resources August 2006 Pty Ltd., (Australia)	​	​	​	​	​	​
4.375%, due 4/1/31	​	​	48,000	​	​	38,150
4.500%, due 9/15/27	​	​	18,000	​	​	16,106
5.875%, due 4/15/30	​	​	45,000	​	​	40,379
Trivium Packaging Finance BV, (Netherlands)	​	​	​	​	​	​
5.500%, due 8/15/26	​	​	27,000	​	​	24,832
​	​	​	​	​	​	119,467
Media — 0.4%
UPC Broadband Finco BV, (Netherlands)	​	​	​	​	​	​
4.875%, due 7/15/31	​	​	59,000	​	​	49,544
Videotron Ltd., (Canada)	​	​	​	​	​	​
3.625%, due 6/15/29(a)	​	​	25,000	​	​	21,052
​	​	​	​	​	​	70,596
Telecommunication Services — 0.7%
Virgin Media Secured Finance PLC, (United Kingdom)	​	​	​	​	​	​
4.500%, due 8/15/30	​	​	39,000	​	​	32,227
Vmed O2 UK Financing I PLC, (United Kingdom)	​	​	​	​	​	​
4.250%, due 1/31/31	​	​	110,000	​	​	87,460
​	​	​	​	​	​	119,687
Transportation — 0.3%
Air Canada, (Canada)	​	​	​	​	​	​
3.875%, due 8/15/26	​	​	70,000	​	​	61,937
Total Foreign Bonds (Cost $1,234,081)	​	​	​	​	​	1,114,934

See notes to financial statements.

48

Schedule of Investments — IQ S&P High Yield Low Volatility Bond ETF (continued)

October 31, 2022 (unaudited)

​	Principal Amount			Value
Short-Term Investments — 1.9%
Money Market Funds — 1.9%	​	​	​	​	​	​
BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 3.09%(b)	​	$	274,447	​	$	274,447
Dreyfus Government Cash Management Fund, Institutional Shares, 2.91%(b)(c)	​	​	79,258	​	​	79,258
Total Short-Term Investments (Cost $353,705)	​	​	​	​	​	353,705
Total Investments — 99.6% (Cost $19,758,838)	​	​	​	​	​	18,085,740
Other Assets and Liabilities, Net — 0.4%	​	​	​	​	​	66,485
Net Assets — 100.0%	​	​	​	​	$	18,152,225

(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 $76,648; total market value of collateral held by the Fund was $79,258.

(b)

Reflects the 1-day yield at October 31, 2022.

(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, 2022. 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

​

$

—

​

$

16,617,101

​

$

—

​

$

16,617,101

Foreign Bonds

​

​

—

​

​

1,114,934

​

​

—

​

​

1,114,934

Short-Term Investments:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Funds

​

​

353,705

​

​

—

​

​

—

​

​

353,705

Total Investments in Securities

​

$

353,705

​

$

17,732,035

​

$

—

​

$

18,085,740

(d)

For a complete listing of investments and their industries, see the Schedule of Investments.

For the period ended October 31, 2022, 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.

49​

Schedule of Investments — IQ Merger Arbitrage ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks — 73.7%
Communication Services — 6.6%
Activision Blizzard, Inc.	​	429,994	​	$	31,303,563
Euromoney Institutional Investor PLC	​	341,517	​	​	5,693,588
Total Communication Services	​	​	​	​	36,997,151
Consumer Discretionary — 3.6%
Countryside Partnerships PLC*	​	475,280	​	​	1,163,370
Diamond Resorts International, Inc.*(a)	​	47,422	​	​	—
iRobot Corp.*(b)	​	127,142	​	​	7,183,523
Tenneco, Inc., Class A*	​	601,608	​	​	11,851,678
Total Consumer Discretionary	​	​	​	​	20,198,571
Consumer Staples — 1.1%
Swedish Match AB	​	520,355	​	​	5,349,314
Tassal Group Ltd.	​	303,402	​	​	1,006,917
Total Consumer Staples	​	​	​	​	6,356,231
Energy — 1.0%
Brigham Minerals, Inc., Class A	​	84,622	​	​	2,623,282
Euronav NV	​	177,915	​	​	3,100,091
Total Energy	​	​	​	​	5,723,373
Financials — 4.6%
Cowen, Inc., Class A	​	99,985	​	​	3,861,421
First Horizon Corp.	​	706,303	​	​	17,311,486
Lakeland Bancorp, Inc.	​	251,819	​	​	4,696,424
Total Financials	​	​	​	​	25,869,331
Health Care — 14.6%
1Life Healthcare, Inc.*	​	2,083,494	​	​	35,627,747
Aerie Pharmaceuticals, Inc.*	​	463,978	​	​	7,061,745
EMIS Group PLC	​	152,148	​	​	3,254,746
Epizyme, Inc.*(a)	​	1,957,185	​	​	39,144
LHC Group, Inc.*	​	66,497	​	​	11,111,649
Meridian Bioscience, Inc.*	​	120,769	​	​	3,860,985
Radius Health, Inc.*(a)	​	177,390	​	​	—
Signify Health, Inc., Class A*	​	703,882	​	​	20,574,471
Total Health Care	​	​	​	​	81,530,487
Industrials — 7.2%
Atlantia SpA	​	550,991	​	​	12,296,402
Atlas Air Worldwide Holdings, Inc.*	​	145,372	​	​	14,702,924
Hitachi Transport System Ltd.	​	67,384	​	​	4,030,301
HomeServe PLC	​	431,818	​	​	5,896,450
Kito Corp.	​	88,677	​	​	1,620,987
Toyo Construction Co., Ltd.	​	311,736	​	​	1,885,496
Total Industrials	​	​	​	​	40,432,560
Information Technology — 24.2%
Black Knight, Inc.*	​	163,089	​	​	9,861,992
BTRS Holdings, Inc., Class 1*	​	248,988	​	​	2,350,447
ChannelAdvisor Corp.*	​	125,159	​	​	2,883,663
CyberOptics Corp.*	​	23,915	​	​	1,290,693
Evo Payments, Inc., Class A*	​	149,418	​	​	5,033,892
ironSource Ltd.*	​	2,323,032	​	​	7,503,393
Micro Focus International PLC	​	298,149	​	​	1,784,328
MoneyGram International, Inc.*	​	549,269	​	​	5,816,759
Nearmap Ltd.*	​	661,664	​	​	871,590
Rogers Corp.*	​	51,050	​	​	12,013,597

​	Shares		Value
Common Stocks (continued)
Information Technology (continued)
Switch, Inc., Class A	​	410,033	​	$	13,961,624
Tower Semiconductor Ltd.*	​	119,409	​	​	5,105,929
VMware, Inc., Class A	​	220,029	​	​	24,759,863
Zendesk, Inc.*	​	544,456	​	​	41,754,331
Total Information Technology	​	​	​	​	134,992,101
Materials — 1.3%
Resolute Forest Products, Inc.*	​	272,945	​	​	5,679,985
Yamana Gold, Inc.	​	325,268	​	​	1,425,976
Total Materials	​	​	​	​	7,105,961
Real Estate — 8.5%
iStar, Inc.	​	388,983	​	​	4,076,542
Raysum Co., Ltd.	​	96,851	​	​	1,047,777
STORE Capital Corp.	​	1,322,472	​	​	42,054,610
Total Real Estate	​	​	​	​	47,178,929
Utilities — 1.0%
South Jersey Industries, Inc.	​	157,801	​	​	5,470,961
Total Common Stocks	​	​	​	​	​
(Cost $422,552,324)	​	​	​	​	411,855,656
Investment Companies — 7.2%
U.S. Ultra Short Term Bond Funds — 7.2%
iShares Short Treasury Bond ETF(b)	​	183,710	​	​	20,202,589
SPDR Bloomberg 1-3 Month T-Bill ETF	​	220,661	​	​	20,210,341
Total U.S. Ultra Short Term Bond Funds	​	​	​	​	40,412,930
Total Investment Companies	​	​	​	​	​
(Cost $40,393,775)	​	​	​	​	40,412,930
Rights — 0.0%(c)
Health Care — 0.0%(c)
Supernus Pharmaceuticals, Inc., expires 12/31/24*(a)	​	333,265	​	​	19,996
Supernus Pharmaceuticals, Inc., expires 12/31/25*(a)	​	333,265	​	​	19,996
Total Rights	​	​	​	​	​
(Cost $0)	​	​	​	​	39,992
Short-Term Investments — 21.1%
Money Market Funds — 21.1%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.91%(d)(e)	​	13,105,735	​	​	13,105,735
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 3.09%(d)	​	104,859,175	​	​	104,859,175
Total Short-Term Investments	​	​	​	​	​
(Cost $117,964,910)	​	​	​	​	117,964,910
Total Investments — 102.0%
(Cost $580,911,009)	​	​	​	​	570,273,488
Other Assets and Liabilities, Net — (2.0)%	​	​	​	​	(11,384,796)
Net Assets — 100.0%	​	​	​	$	558,924,692

See notes to financial statements.

50

Schedule of Investments — IQ Merger Arbitrage ETF (continued)

October 31, 2022 (unaudited)

*

Non-income producing securities.

(a)

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.

(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 $13,278,540; total market value of collateral held by the Fund was $13,550,737. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of  $445,002.

(c)

Less than 0.05%.

(d)

Reflects the 1-day yield at October 31, 2022.

(e)

Represents security purchased with cash collateral received for securities on loan.

Total Return Swap contracts outstanding at October 31, 2022:
Total Return Benchmark	Counterparty	Floating Rate(f)	Expiration Date		Payment Frequency	Notional Amount Long/​ (Short)			Value/​ Unrealized Appreciation/​ (Depreciation)(g)
iShares Expanded Tech-Software Sector ETF	Morgan Stanley	1-Day FEDEF –  1.00%	​	2/03/2023	Monthly	​	$	(4,233,967)	​	$	—
iShares Expanded Tech-Software Sector ETF	Merrill Lynch	1-Day-FEDEF	​	2/28/2023	Monthly	​	​	(4,233,967)	​	​	—
iShares MSCI Emerging Markets ETF	Morgan Stanley	1-Day FEDEF –  0.35%	​	2/03/2023	Monthly	​	​	(715,904)	​	​	—
iShares MSCI Emerging Markets ETF	Merrill Lynch	1-Day-FEDEF	​	2/28/2023	Monthly	​	​	(715,904)	​	​	—
iShares Semiconductor ETF	Morgan Stanley	1-Day FEDEF –  2.53%	​	2/03/2023	Monthly	​	​	(11,515,929)	​	​	—
iShares U.S. Financial Services ETF	Morgan Stanley	1-Day FEDEF –  0.83%	​	2/03/2023	Monthly	​	​	(1,186,095)	​	​	—
iShares U.S. Financial Services ETF	Merrill Lynch	1-Day-FEDEF	​	2/28/2023	Monthly	​	​	(1,186,095)	​	​	—
SPDR S&P Oil & Gas Exploration & Production ETF	Morgan Stanley	1-Day FEDEF –  1.63%	​	2/03/2023	Monthly	​	​	(2,931,395)	​	​	—
SPDR S&P Oil & Gas Exploration & Production ETF	Merrill Lynch	1-Day-FEDEF	​	2/28/2023	Monthly	​	​	(2,931,395)	​	​	—
SPDR S&P Regional Banking ETF	Morgan Stanley	1-Day FEDEF –  0.75%	​	2/03/2023	Monthly	​	​	(2,168,545)	​	​	—
SPDR S&P Regional Banking ETF	Merrill Lynch	1-Day-FEDEF	​	2/28/2023	Monthly	​	​	(2,168,545)	​	​	—
Vanguard FTSE Europe ETF	Morgan Stanley	1-Day FEDEF	​	2/03/2023	Monthly	​	​	(420,686)	​	​	—
Vanguard FTSE Europe ETF	Merrill Lynch	1-Day-FEDEF	​	2/28/2023	Monthly	​	​	(420,686)	​	​	—
Vanguard Real Estate ETF	Morgan Stanley	1-Day FEDEF –  0.15%	​	2/03/2023	Monthly	​	​	(1,846,388)	​	​	—
Vanguard Real Estate ETF	Merrill Lynch	1-Day-FEDEF	​	2/28/2023	Monthly	​	​	(1,846,388)	​	​	—
​	​	​	​	​	​	​	​	​	​	$	—

At October 31, 2022 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.

(f)

Portfolio pays or receives the floating rate and receives or pays the total return of the reference rate entity.

(g)

Reflects the value at reset date of October 31, 2022.

Abbreviation

FEDEF  — Federal Funds Effective Rate

See notes to financial statements.

51​

Schedule of Investments — IQ Merger Arbitrage ETF (continued)

October 31, 2022 (unaudited)

The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2022. 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:(h)

​

​

​

​

​

​

​

​

​

​

​

​

Common Stocks

​

$

411,816,512

​

$

—

​

$

39,144(i)

​

$

411,855,656

Investment Companies

​

​

40,412,930

​

​

—

​

​

—

​

​

40,412,930

Rights

​

​

—

​

​

—

​

​

39,992(i)

​

​

39,992

Short-Term Investments:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Funds

​

​

117,964,910

​

​

—

​

​

—

​

​

117,964,910

Total Investments in Securities

​

​

570,194,352

​

​

—

​

​

79,136

​

​

570,273,488

Other Financial Instruments:(i)

​

​

​

​

​

​

​

​

​

​

​

​

Swap Contracts

​

​

—

​

​

—

​

​

—

​

​

—

Total Investments in Securities and Other Financial Instruments

​

$

570,194,352

​

$

—

​

$

79,136

​

$

570,273,488

Liability Valuation Inputs

​

​

​

​

​

​

​

​

​

​

​

​

Description

​

​

​

​

​

​

​

​

​

​

​

​

Other Financial Instruments:(j)

​

​

​

​

​

​

​

​

​

​

​

​

Swap Contracts

​

$

—

​

$

—

​

$

—

​

$

—

(h)

For a complete listing of investments and their industries, see the Schedule of Investments.

(i)

The Level 3 securities, valued in total at $79,136, have been fair valued in good faith in accordance with procedures established by the Board of Trustees.

(j)

Reflects the unrealized appreciation (depreciation) of the instruments.

For the period ended October 31, 2022, 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 any affiliated fund during the period ended October 31, 2022 is as follows:

Affiliated Holdings

​

Shares at 04/30/2022

Value ($) at 04/30/2022

Purchases Cost ($)

Sales Proceeds ($)

Net Realized Gain/(Loss) ($)

Net Change in Unrealized Appreciation/​ (Depreciation) ($)

Income Distributions ($)

Capital Gain Distributions ($)

Shares at 10/31/2022

Value ($) at 10/31/2022

IQ Ultra Short Duration ETF

​

1

​

48

​

4,302,697

​

(4,275,965)

​

(26,780)

​

—

​

14,616

​

—

​

—

​

—

For more information on the determination, please refer to Note 6.

See notes to financial statements.

52

Schedule of Investments — IQ Global Resources ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks — 99.5%
Australia — 12.3%
Australian Agricultural Co., Ltd.*	​	10,300	​	$	11,526
BHP Group Ltd.	​	57,720	​	​	1,378,926
Evolution Mining Ltd.	​	20,903	​	​	27,802
Fortescue Metals Group Ltd.	​	35,085	​	​	329,797
Glencore PLC	​	150,044	​	​	862,898
Gold Road Resources Ltd.	​	10,061	​	​	8,717
IGO Ltd.	​	8,631	​	​	84,387
Iluka Resources Ltd.	​	4,820	​	​	26,661
Inghams Group Ltd.	​	6,345	​	​	10,265
Mineral Resources Ltd.	​	2,145	​	​	100,307
Newcrest Mining Ltd.	​	10,160	​	​	112,720
Northern Star Resources Ltd.	​	13,266	​	​	74,141
OceanaGold Corp.*	​	8,062	​	​	11,703
OZ Minerals Ltd.	​	3,817	​	​	58,994
Perseus Mining Ltd.	​	14,072	​	​	16,422
Ramelius Resources Ltd.	​	9,891	​	​	4,649
Regis Resources Ltd.	​	8,607	​	​	8,393
Rio Tinto PLC	​	18,572	​	​	970,136
Silver Lake Resources Ltd.*	​	10,608	​	​	7,529
South32 Ltd.	​	52,863	​	​	121,692
Woodside Energy Group Ltd.	​	11,036	​	​	253,910
Total Australia	​	​	​	​	4,481,575
Austria — 0.3%
OMV AG	​	1,271	​	​	58,589
voestalpine AG	​	2,048	​	​	44,490
Total Austria	​	​	​	​	103,079
Brazil — 1.0%
Wheaton Precious Metals Corp.	​	5,162	​	​	168,667
Yara International ASA	​	4,351	​	​	194,180
Total Brazil	​	​	​	​	362,847
Burkina Faso — 0.2%
Endeavour Mining PLC	​	2,851	​	​	49,762
IAMGOLD Corp.*	​	5,460	​	​	8,006
Total Burkina Faso	​	​	​	​	57,768
Canada — 8.6%
Agnico Eagle Mines Ltd.	​	2,781	​	​	122,184
Alamos Gold, Inc., Class A	​	4,486	​	​	35,354
B2Gold Corp.	​	12,097	​	​	36,893
Barrick Gold Corp.	​	20,369	​	​	305,972
Canadian Natural Resources Ltd.	​	4,509	​	​	270,100
Canfor Corp.*	​	2,222	​	​	33,345
Cenovus Energy, Inc.(a)	​	7,691	​	​	155,280
Dundee Precious Metals, Inc.	​	2,186	​	​	9,904
Enbridge, Inc.	​	7,857	​	​	305,744
Equinox Gold Corp.*	​	3,467	​	​	11,412
First Majestic Silver Corp.	​	2,979	​	​	25,028
Imperial Oil Ltd.	​	2,596	​	​	141,043
K92 Mining, Inc.*	​	2,547	​	​	11,558
Kinross Gold Corp.	​	14,809	​	​	53,632
Lundin Gold, Inc.	​	2,672	​	​	19,275
Maple Leaf Foods, Inc.	​	2,142	​	​	31,705
New Gold, Inc.*	​	7,798	​	​	7,032
Nutrien Ltd.	​	9,461	​	​	798,399
Osisko Gold Royalties Ltd.	​	1,903	​	​	20,382

​	Shares		Value
Common Stocks (continued)
Canada (continued)
Pan American Silver Corp.	​	2,410	​	$	38,428
Pembina Pipeline Corp.	​	2,135	​	​	70,402
Sandstorm Gold Ltd.	​	2,196	​	​	10,802
SSR Mining, Inc.	​	2,432	​	​	33,448
Suncor Energy, Inc.	​	5,551	​	​	190,697
TC Energy Corp.	​	3,806	​	​	166,967
Torex Gold Resources, Inc.*	​	982	​	​	6,681
Wesdome Gold Mines Ltd.*	​	1,624	​	​	9,727
West Fraser Timber Co., Ltd.	​	1,886	​	​	141,431
Yamana Gold, Inc.	​	10,988	​	​	48,171
Total Canada	​	​	​	​	3,110,996
Chile — 0.5%
Antofagasta PLC	​	11,308	​	​	153,043
Lundin Mining Corp.	​	8,423	​	​	44,090
Total Chile	​	​	​	​	197,133
China — 3.8%
China Hongqiao Group Ltd.	​	105,918	​	​	75,156
China Petroleum & Chemical Corp., Class H	​	469,521	​	​	185,419
CMOC Group Ltd., Class H	​	245,516	​	​	79,130
COFCO Joycome Foods Ltd.*	​	66,950	​	​	14,073
Dali Foods Group Co., Ltd.	​	234,962	​	​	96,680
Guangdong Investment Ltd.	​	57,292	​	​	36,128
MMG Ltd.*	​	98,880	​	​	19,524
PetroChina Co., Ltd., Class H	​	709,765	​	​	271,253
Southern Energy Holdings Group Ltd.*(b)	​	53,183	​	​	—
Wilmar International Ltd.	​	107,912	​	​	295,879
Zhaojin Mining Industry Co., Ltd., Class H*	​	37,431	​	​	30,899
Zijin Mining Group Co., Ltd., Class H	​	300,223	​	​	286,843
Total China	​	​	​	​	1,390,984
Denmark — 0.3%
Chr Hansen Holding A/S	​	2,263	​	​	125,700
Egypt — 0.0%(c)
Centamin PLC	​	13,238	​	​	13,522
Finland — 2.1%
Metso Outotec OYJ	​	9,493	​	​	72,075
Neste OYJ	​	2,984	​	​	130,769
Stora Enso OYJ, Class R	​	14,094	​	​	183,734
UPM-Kymmene OYJ	​	9,533	​	​	319,497
Valmet OYJ(a)	​	2,671	​	​	60,796
Total Finland	​	​	​	​	766,871
France — 1.9%
TotalEnergies SE	​	10,007	​	​	544,961
Veolia Environnement SA	​	6,032	​	​	134,675
Total France	​	​	​	​	679,636
Germany — 0.2%
Aurubis AG	​	500	​	​	31,588
Suedzucker AG	​	3,510	​	​	44,751
Uniper SE(a)	​	1,422	​	​	4,261
Total Germany	​	​	​	​	80,600

See notes to financial statements.

53​

Schedule of Investments — IQ Global Resources ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Hong Kong — 0.1%
Vitasoy International Holdings Ltd.*(a)	​	18,358	​	$	31,338
Indonesia — 0.2%
Golden Agri-Resources Ltd.	​	217,577	​	​	44,589
Nickel Industries Ltd.	​	29,913	​	​	13,963
Total Indonesia	​	​	​	​	58,552
Ireland — 0.7%
Kerry Group PLC, Class A	​	3,039	​	​	264,316
Italy — 0.6%
Eni SpA	​	13,879	​	​	181,809
Interpump Group SpA	​	934	​	​	36,168
Total Italy	​	​	​	​	217,977
Japan — 3.1%
Ajinomoto Co., Inc.	​	9,231	​	​	254,383
Itoham Yonekyu Holdings, Inc.	​	5,006	​	​	22,397
JFE Holdings, Inc.	​	6,588	​	​	60,413
Kagome Co., Ltd.	​	1,519	​	​	30,393
Kewpie Corp.	​	2,385	​	​	37,692
Kikkoman Corp.	​	3,286	​	​	178,631
NH Foods Ltd.	​	1,754	​	​	41,833
Nichirei Corp.	​	2,238	​	​	34,842
Nippon Steel Corp.	​	10,536	​	​	144,783
Nisshin Seifun Group, Inc.	​	5,101	​	​	55,185
Oji Holdings Corp.	​	17,669	​	​	61,340
Prima Meat Packers Ltd.	​	861	​	​	11,394
S Foods, Inc.	​	542	​	​	9,937
Sumitomo Metal Mining Co., Ltd.	​	3,145	​	​	88,488
Toyo Suisan Kaisha Ltd.	​	1,751	​	​	65,735
Yamazaki Baking Co., Ltd.	​	3,652	​	​	37,224
Total Japan	​	​	​	​	1,134,670
Kyrgyzstan — 0.0%(c)
Centerra Gold, Inc.	​	3,402	​	​	15,787
Luxembourg — 0.6%
ArcelorMittal SA	​	10,444	​	​	233,852
Mexico — 0.2%
Fresnillo PLC	​	8,453	​	​	70,949
Mongolia — 0.1%
Turquoise Hill Resources Ltd.*	​	1,706	​	​	47,976
Netherlands — 2.6%
OCI NV	​	3,614	​	​	138,303
Shell PLC	​	29,427	​	​	814,490
Total Netherlands	​	​	​	​	952,793
New Zealand — 0.1%
Fletcher Building Ltd.	​	14,228	​	​	42,486
Norway — 1.7%
Equinor ASA	​	12,437	​	​	454,985
Norsk Hydro ASA	​	23,374	​	​	148,335
Total Norway	​	​	​	​	603,320

​	Shares		Value
Common Stocks (continued)
Peru — 1.2%
Hochschild Mining PLC	​	5,895	​	$	3,621
Southern Copper Corp.(a)	​	8,847	​	​	415,544
Total Peru	​	​	​	​	419,165
Singapore — 0.2%
Olam Group Ltd.	​	64,811	​	​	61,372
South Africa — 1.3%
Anglo American PLC	​	15,342	​	​	460,763
Spain — 0.4%
Befesa SA	​	459	​	​	15,941
Ebro Foods SA	​	2,644	​	​	41,236
Repsol SA	​	5,685	​	​	77,230
Total Spain	​	​	​	​	134,407
Sweden — 0.7%
AAK AB	​	4,448	​	​	64,806
Boliden AB	​	3,138	​	​	91,325
Holmen AB, B Shares	​	2,895	​	​	104,949
Total Sweden	​	​	​	​	261,080
Switzerland — 0.1%
Bell Food Group AG	​	107	​	​	26,088
Turkey — 0.0%(c)
Eldorado Gold Corp.*	​	2,092	​	​	11,671
Ukraine — 0.0%(c)
Ferrexpo PLC	​	6,742	​	​	7,925
United Kingdom — 2.7%
Associated British Foods PLC	​	13,587	​	​	211,106
BP PLC	​	75,324	​	​	416,101
Cranswick PLC	​	912	​	​	31,228
Greggs PLC	​	1,746	​	​	40,567
Severn Trent PLC	​	2,198	​	​	63,342
Spirax-Sarco Engineering PLC	​	646	​	​	79,955
Tate & Lyle PLC	​	6,846	​	​	55,254
United Utilities Group PLC	​	5,988	​	​	64,765
Total United Kingdom	​	​	​	​	962,318
United States — 51.3%
Alcoa Corp.	​	2,110	​	​	82,353
American Water Works Co., Inc.	​	1,592	​	​	231,381
Archer-Daniels-Midland Co.	​	9,644	​	​	935,275
Armstrong World Industries, Inc.	​	839	​	​	63,403
ATI, Inc.*	​	1,458	​	​	43,390
B&G Foods, Inc.(a)	​	1,176	​	​	19,263
Baker Hughes Co.	​	3,697	​	​	102,259
Boise Cascade Co.	​	701	​	​	46,806
Builders FirstSource, Inc.*	​	3,153	​	​	194,414
Bunge Ltd.	​	2,448	​	​	241,618
Campbell Soup Co.	​	5,175	​	​	273,809
Cheniere Energy, Inc.	​	987	​	​	174,117
Chevron Corp.	​	7,551	​	​	1,365,976
Cleveland-Cliffs, Inc.*(a)	​	6,001	​	​	77,953
Coeur Mining, Inc.*	​	2,939	​	​	11,109

See notes to financial statements.

54

Schedule of Investments — IQ Global Resources ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
United States (continued)
Commercial Metals Co.	​	1,390	​	$	63,245
Conagra Brands, Inc.	​	8,229	​	​	302,004
ConocoPhillips	​	5,024	​	​	633,476
Continental Resources, Inc.	​	1,412	​	​	104,446
Coterra Energy, Inc.	​	3,145	​	​	97,904
Devon Energy Corp.	​	2,576	​	​	199,254
Diamondback Energy, Inc.	​	688	​	​	108,092
Dover Corp.	​	1,263	​	​	165,061
Ecolab, Inc.	​	2,507	​	​	393,775
EOG Resources, Inc.	​	2,270	​	​	309,900
Essential Utilities, Inc.	​	2,216	​	​	97,992
Exxon Mobil Corp.	​	16,414	​	​	1,818,835
Flowers Foods, Inc.	​	3,628	​	​	104,160
FMC Corp.	​	2,160	​	​	256,824
Freeport-McMoRan, Inc.	​	16,647	​	​	527,543
General Mills, Inc.	​	10,331	​	​	842,803
Graco, Inc.	​	1,483	​	​	103,187
Hain Celestial Group, Inc. (The)*(a)	​	1,567	​	​	29,319
Halliburton Co.	​	3,484	​	​	126,887
Hecla Mining Co.	​	6,160	​	​	28,151
Hess Corp.	​	1,202	​	​	169,578
Hormel Foods Corp.	​	9,349	​	​	434,261
IDEX Corp.	​	667	​	​	148,281
Ingredion, Inc.	​	1,144	​	​	101,953
International Paper Co.	​	6,687	​	​	224,750
J&J Snack Foods Corp.	​	328	​	​	48,416
Kellogg Co.	​	5,823	​	​	447,323
Kinder Morgan, Inc.	​	8,791	​	​	159,293
Kraft Heinz Co. (The)	​	21,011	​	​	808,293
Louisiana-Pacific Corp.	​	1,535	​	​	86,958
Marathon Petroleum Corp.	​	2,165	​	​	245,987
Mondelez International, Inc., Class A	​	23,816	​	​	1,464,208
Mosaic Co. (The)	​	6,318	​	​	339,593
Mueller Industries, Inc.	​	655	​	​	41,029
Newmont Corp.	​	9,069	​	​	383,800
Nucor Corp.	​	3,076	​	​	404,125
Occidental Petroleum Corp.	​	3,632	​	​	263,683
ONEOK, Inc.	​	1,729	​	​	102,564
Pentair PLC	​	1,447	​	​	62,149
Phillips 66	​	1,863	​	​	194,292
Pilgrim’s Pride Corp.*(a)	​	4,183	​	​	96,418
Pioneer Natural Resources Co.	​	942	​	​	241,538
Post Holdings, Inc.*	​	1,062	​	​	96,026
Reliance Steel & Aluminum Co.	​	706	​	​	142,245
Schlumberger NV	​	5,480	​	​	285,124
Seaboard Corp.	​	20	​	​	74,928
Simpson Manufacturing Co., Inc.	​	773	​	​	66,076
Steel Dynamics, Inc.	​	2,188	​	​	205,781
Tyson Foods, Inc., Class A	​	6,098	​	​	416,798
UFP Industries, Inc.	​	1,108	​	​	78,923
United States Steel Corp.	​	2,982	​	​	60,714
Valero Energy Corp.	​	1,588	​	​	199,373
Watts Water Technologies, Inc., Class A	​	293	​	​	42,884
Williams Cos., Inc. (The)	​	4,720	​	​	154,486
Xylem, Inc.	​	1,576	​	​	161,430
Total United States	​	​	​	​	18,629,264

​	Shares		Value
Common Stocks (continued)
Zambia — 0.4%
First Quantum Minerals Ltd.	​	7,911	​	$	139,365
Total Common Stocks	​	​	​	​	​
(Cost $35,407,308)	​	​	​	​	36,158,145
Short-Term Investments — 0.3%
Money Market Funds — 0.3%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.91%(d)(e)	​	26,704	​	​	26,704
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 3.09%(d)	​	85,043	​	​	85,043
Total Short-Term Investments	​	​	​	​	​
(Cost $111,747)	​	​	​	​	111,747
Total Investments — 99.8%	​		​
(Cost $35,519,055)	​	​	​	​	36,269,892
Other Assets and Liabilities, Net — 0.2%	​	​	​	​	64,425
Net Assets — 100.0%	​	​	​	$	36,334,317

*

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 $827,684; total market value of collateral held by the Fund was $865,021. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $838,318.

(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, 2022.

(e)

Represents security purchased with cash collateral received for securities on loan.

See notes to financial statements.

55​

Schedule of Investments — IQ Global Resources ETF (continued)

October 31, 2022 (unaudited)

The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2022. 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

​

$

36,158,145

​

$

—

​

$

0(g)

​

$

36,158,145

Short-Term Investments:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Funds

​

​

111,747

​

​

—

​

​

—

​

​

111,747

Total Investments in Securities

​

$

36,269,892

​

$

—

​

$

—

​

$

36,269,892

(f)

For a complete listing of investments and their countries, see the Schedule of Investments.

(g)

The Level 3 security, valued at $0, 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 period. (See Note 2)

See notes to financial statements.

56

Schedule of Investments — IQ CBRE NextGen Real Estate ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks — 99.9%
Data Center — 14.4%
Digital Realty Trust, Inc.	​	12,214	​	$	1,224,454
Equinix, Inc.	​	2,310	​	​	1,308,476
Iron Mountain, Inc.	​	23,543	​	​	1,178,798
Keppel DC REIT	​	138,578	​	​	172,353
Total Data Center	​	​	​	​	3,884,081
Data Center Property Owners — 0.6%
DigitalBridge Group, Inc.	​	13,275	​	​	169,920
Health Care — 12.1%
Aedifica SA	​	1,073	​	​	81,870
Alexandria Real Estate Equities, Inc.	​	4,413	​	​	641,209
Assura PLC	​	79,627	​	​	51,294
CareTrust REIT, Inc.	​	2,624	​	​	49,016
Chartwell Retirement Residences	​	6,347	​	​	36,759
Cofinimmo SA	​	868	​	​	72,020
Community Healthcare Trust, Inc.	​	677	​	​	23,424
Global Medical REIT, Inc.	​	1,766	​	​	16,141
Healthcare Realty Trust, Inc.	​	10,292	​	​	209,237
Healthpeak Properties, Inc.	​	14,593	​	​	346,292
LTC Properties, Inc.	​	1,095	​	​	42,344
Medical Properties Trust, Inc.(a)	​	16,200	​	​	185,490
National Health Investors, Inc.	​	1,207	​	​	68,437
NorthWest Healthcare Properties Real Estate Investment Trust	​	6,435	​	​	50,667
Parkway Life Real Estate Investment Trust	​	16,223	​	​	45,857
Primary Health Properties PLC	​	35,962	​	​	46,001
Sabra Health Care REIT, Inc.	​	6,246	​	​	85,320
Universal Health Realty Income Trust	​	372	​	​	18,105
Ventas, Inc.	​	10,810	​	​	422,995
Welltower, Inc.	​	12,531	​	​	764,892
Total Health Care	​	​	​	​	3,257,370
Industrial — 34.3%
Advance Logistics Investment Corp.	​	34	​	​	33,260
Americold Realty Trust, Inc.	​	15,143	​	​	367,218
CRE Logistics REIT, Inc.	​	32	​	​	44,049
Dream Industrial Real Estate Investment Trust	​	14,330	​	​	115,035
EastGroup Properties, Inc.	​	2,449	​	​	383,734
ESR-LOGOS REIT	​	374,283	​	​	89,927
First Industrial Realty Trust, Inc.	​	7,425	​	​	353,653
Frasers Logistics & Commercial Trust	​	206,958	​	​	160,875
GLP J-Reit	​	251	​	​	260,229
Granite Real Estate Investment Trust	​	3,673	​	​	187,467
Indus Realty Trust, Inc.	​	571	​	​	29,572
Industrial & Infrastructure Fund Investment Corp.	​	116	​	​	122,528
Industrial Logistics Properties Trust	​	3,665	​	​	17,152
Innovative Industrial Properties, Inc.	​	1,573	​	​	170,041
Japan Logistics Fund, Inc.	​	52	​	​	111,427
LaSalle Logiport REIT	​	101	​	​	107,839
LondonMetric Property PLC	​	54,853	​	​	118,036
LXP Industrial Trust	​	15,735	​	​	152,315
Mapletree Industrial Trust	​	151,470	​	​	235,484
Mapletree Logistics Trust	​	268,907	​	​	288,841
Mitsubishi Estate Logistics REIT Investment Corp.	​	25	​	​	74,007

​	Shares		Value
Common Stocks (continued)
Industrial (continued)
Mitsui Fudosan Logistics Park, Inc.	​	33	​	$	109,456
Montea NV	​	919	​	​	62,763
Nippon Prologis REIT, Inc.	​	150	​	​	314,361
Plymouth Industrial REIT, Inc.	​	2,256	​	​	41,601
Prologis, Inc.	​	28,579	​	​	3,165,124
Rexford Industrial Realty, Inc.	​	9,617	​	​	531,628
Segro PLC	​	67,861	​	​	613,331
SOSiLA Logistics REIT, Inc.	​	39	​	​	37,390
STAG Industrial, Inc.	​	10,075	​	​	318,269
Summit Industrial Income REIT	​	10,664	​	​	136,109
Terreno Realty Corp.	​	4,247	​	​	242,674
Tritax Big Box REIT PLC	​	104,888	​	​	169,429
Urban Logistics REIT PLC	​	26,399	​	​	39,969
Warehouse REIT PLC	​	23,765	​	​	32,834
Total Industrial	​	​	​	​	9,237,627
Infrastructure (Tower) — 17.3%
American Tower Corp.	​	9,068	​	​	1,878,799
Crown Castle, Inc.	​	10,407	​	​	1,386,837
SBA Communications Corp.	​	4,595	​	​	1,240,191
Uniti Group, Inc.	​	19,216	​	​	149,116
Total Infrastructure (Tower)	​	​	​	​	4,654,943
Manufactured Homes — 3.0%
Equity LifeStyle Properties, Inc.	​	5,032	​	​	321,846
Sun Communities, Inc.	​	3,335	​	​	449,725
UMH Properties, Inc.	​	1,485	​	​	26,047
Total Manufactured Homes	​	​	​	​	797,618
Multi-Family Residential — 14.6%
Advance Residence Investment Corp.	​	38	​	​	88,458
Apartment Income REIT Corp.	​	4,170	​	​	160,253
Apartment Investment and Management Co., Class A	​	4,100	​	​	32,554
AvalonBay Communities, Inc.	​	3,781	​	​	662,129
Boardwalk Real Estate Investment Trust	​	1,246	​	​	44,284
Camden Property Trust	​	2,881	​	​	332,900
Canadian Apartment Properties REIT	​	4,761	​	​	147,258
CapitaLand Ascott Trust	​	92,722	​	​	62,575
Centerspace	​	415	​	​	28,759
Comforia Residential REIT, Inc.	​	19	​	​	40,330
Daiwa Securities Living Investments Corp.	​	60	​	​	46,584
Elme Communities	​	2,363	​	​	45,110
Equity Residential	​	10,172	​	​	641,039
Essex Property Trust, Inc.	​	1,761	​	​	391,365
Independence Realty Trust, Inc.	​	6,006	​	​	100,661
InterRent Real Estate Investment Trust	​	3,799	​	​	31,945
Kenedix Residential Next Investment Corp.	​	28	​	​	41,029
Killam Apartment Real Estate Investment Trust	​	3,124	​	​	36,163
Mid-America Apartment Communities, Inc.	​	3,122	​	​	491,559
NexPoint Residential Trust, Inc.	​	694	​	​	31,646
PRS REIT PLC (The)	​	14,780	​	​	14,975

See notes to financial statements.

57​

Schedule of Investments — IQ CBRE NextGen Real Estate ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Multi-Family Residential (continued)
Samty Residential Investment Corp.	​	22	​	$	17,776
Sekisui House REIT, Inc.	​	120	​	​	64,668
UDR, Inc.	​	8,788	​	​	349,411
Veris Residential, Inc.*	​	2,455	​	​	38,863
Total Multi-Family Residential	​	​	​	​	3,942,294
Single-Family Residential — 3.1%
American Homes 4 Rent, Class A	​	9,404	​	​	300,364
Invitation Homes, Inc.	​	16,507	​	​	523,107
Total Single-Family Residential	​	​	​	​	823,471
Student Housing — 0.5%
UNITE Group PLC (The)	​	10,766	​	​	110,443
Xior Student Housing NV	​	754	​	​	21,201
Total Student Housing	​	​	​	​	131,644
Total Common Stocks (Cost $29,386,518)	​	​	​	​	26,898,968
Short-Term Investment — 0.2%
Money Market Fund — 0.2%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 3.09%(b) (Cost $41,602)	​	41,602	​	​	41,602

​	Shares	Value
Total Investments — 100.1%
(Cost $29,428,120)	​	​	$	26,940,570
Other Assets and Liabilities, Net — (0.1)%	​	​	​	(3,647)
Net Assets — 100.0%	​	​	$	26,936,923

*

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 $181,780; total market value of collateral held consisted of non-cash U.S. Treasury securities collateral having a value of $189,115.

(b)

Reflects the 1-day yield at October 31, 2022.

The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2022. 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

​

$

26,898,968

​

$

—

​

$

—

​

$

26,898,968

Short-Term Investment:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Fund

​

​

41,602

​

​

—

​

​

—

​

​

41,602

Total Investments in Securities

​

$

26,940,570

​

$

—

​

$

—

​

$

26,940,570

(c)

For a complete listing of investments and their industries, see the Schedule of Investments.

For the period ended October 31, 2022, 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.

58

Schedule of Investments — IQ FTSE International Equity Currency Neutral ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks — 99.3%
Australia — 8.4%
Allkem Ltd.*	​	12,545	​	$	115,837
ALS Ltd.	​	9,685	​	​	70,849
APA Group	​	26,648	​	​	179,091
Aristocrat Leisure Ltd.	​	15,076	​	​	357,369
ASX Ltd.	​	4,499	​	​	194,766
Aurizon Holdings Ltd.	​	49,162	​	​	113,801
Australia & New Zealand Banking Group Ltd.	​	57,980	​	​	947,647
BHP Group Ltd.	​	95,931	​	​	2,291,783
BlueScope Steel Ltd.	​	10,744	​	​	108,069
Brambles Ltd.	​	30,860	​	​	230,487
carsales.com Ltd.	​	6,653	​	​	86,447
Charter Hall Group	​	13,877	​	​	114,825
Cochlear Ltd.	​	1,456	​	​	185,938
Coles Group Ltd.	​	26,330	​	​	274,944
Commonwealth Bank of Australia	​	32,006	​	​	2,142,411
Dexus	​	32,529	​	​	161,414
Domino’s Pizza Enterprises Ltd.	​	1,336	​	​	54,462
Endeavour Group Ltd.	​	25,932	​	​	118,563
Evolution Mining Ltd.	​	38,075	​	​	50,642
Flutter Entertainment PLC*	​	3,305	​	​	440,641
Fortescue Metals Group Ltd.	​	32,114	​	​	301,870
Glencore PLC	​	249,792	​	​	1,436,545
Goodman Group	​	38,453	​	​	418,010
GPT Group (The)	​	58,041	​	​	159,963
IDP Education Ltd.	​	4,396	​	​	83,178
IGO Ltd.	​	12,506	​	​	122,274
Incitec Pivot Ltd.	​	52,225	​	​	125,233
Insurance Australia Group Ltd.	​	53,481	​	​	167,573
Lendlease Corp., Ltd.	​	14,715	​	​	81,769
Lottery Corp Ltd. (The)*	​	52,337	​	​	143,573
Lynas Rare Earths Ltd.*	​	19,272	​	​	102,655
Macquarie Group Ltd.	​	6,811	​	​	738,224
Medibank Pvt Ltd.	​	57,168	​	​	102,723
Mineral Resources Ltd.	​	3,651	​	​	170,732
Mirvac Group	​	108,435	​	​	143,532
National Australia Bank Ltd.	​	61,220	​	​	1,269,153
Newcrest Mining Ltd.	​	18,372	​	​	203,828
Northern Star Resources Ltd.	​	24,120	​	​	134,802
Origin Energy Ltd.	​	38,259	​	​	136,269
OZ Minerals Ltd.	​	7,171	​	​	110,832
Pilbara Minerals Ltd.*	​	50,503	​	​	164,378
QBE Insurance Group Ltd.	​	32,273	​	​	252,597
Ramsay Health Care Ltd.	​	4,267	​	​	159,811
Rio Tinto Ltd.	​	7,064	​	​	398,407
Rio Tinto PLC	​	20,704	​	​	1,081,504
Santos Ltd.	​	63,681	​	​	313,551
Scentre Group	​	128,248	​	​	237,824
SEEK Ltd.	​	9,239	​	​	127,551
Shopping Centres Australasia Property Group	​	63,042	​	​	109,649
Sonic Healthcare Ltd.	​	10,685	​	​	223,902
South32 Ltd.	​	90,891	​	​	209,233

​	Shares		Value
Common Stocks (continued)
Australia (continued)
Stockland	​	64,292	​	$	148,002
Suncorp Group Ltd.	​	28,432	​	​	207,444
Telstra Group Ltd.*	​	90,713	​	​	227,386
Transurban Group	​	57,324	​	​	486,058
Treasury Wine Estates Ltd.	​	17,162	​	​	142,117
Vicinity Centres	​	119,415	​	​	148,520
Wesfarmers Ltd.	​	22,969	​	​	667,697
Westpac Banking Corp.	​	66,241	​	​	1,021,249
Whitehaven Coal Ltd.	​	14,628	​	​	84,466
WiseTech Global Ltd.	​	3,425	​	​	127,377
Woodside Energy Group Ltd.	​	37,077	​	​	853,048
Woolworths Group Ltd.	​	23,782	​	​	502,150
Total Australia	​	​	​	​	22,286,645
Austria — 0.2%
Erste Group Bank AG	​	7,826	​	​	193,061
Mondi PLC	​	9,616	​	​	161,918
OMV AG	​	3,991	​	​	183,971
Verbund AG	​	1,208	​	​	94,619
Total Austria	​	​	​	​	633,569
Belgium — 0.8%
Ageas SA(a)	​	4,281	​	​	148,216
Anheuser-Busch InBev SA	​	15,874	​	​	793,865
Elia Group SA	​	552	​	​	69,778
Groupe Bruxelles Lambert SA	​	2,346	​	​	172,972
KBC Group NV	​	5,433	​	​	272,243
Solvay SA	​	1,721	​	​	155,194
UCB SA	​	2,662	​	​	200,797
Umicore SA	​	4,360	​	​	143,712
Warehouses De Pauw CVA	​	3,948	​	​	101,374
Total Belgium	​	​	​	​	2,058,151
Brazil — 0.0%(b)
Yara International ASA	​	2,949	​	​	131,611
Burkina Faso — 0.0%(b)
Endeavour Mining PLC	​	3,281	​	​	57,268
Chile — 0.0%(b)
Antofagasta PLC	​	6,696	​	​	90,624
China — 0.5%
BOC Hong Kong Holdings Ltd.	​	70,902	​	​	220,388
Budweiser Brewing Co APAC Ltd.	​	33,567	​	​	70,642
ESR Group Ltd.	​	38,944	​	​	66,479
Lenovo Group Ltd.	​	158,412	​	​	126,732
Prosus NV*	​	15,385	​	​	669,660
SITC International Holdings Co., Ltd.	​	25,310	​	​	41,464
Want Want China Holdings Ltd.	​	105,147	​	​	69,117
Wilmar International Ltd.	​	32,907	​	​	90,226
Xinyi Glass Holdings Ltd.	​	44,247	​	​	56,930
Total China	​	​	​	​	1,411,638

See notes to financial statements.

59​

Schedule of Investments — IQ FTSE International Equity Currency Neutral ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Denmark — 2.4%
AP Moller — Maersk A/S, Class B	​	168	​	$	351,499
Carlsberg A/S, Class B	​	1,995	​	​	235,187
Chr Hansen Holding A/S	​	2,170	​	​	120,534
Coloplast A/S, Class B	​	2,644	​	​	294,848
Danske Bank A/S	​	13,188	​	​	212,898
DSV A/S	​	3,622	​	​	490,463
Genmab A/S*	​	1,246	​	​	480,366
Novo Nordisk A/S, Class B	​	29,289	​	​	3,184,927
Novozymes A/S, Class B	​	4,022	​	​	211,284
Orsted A/S	​	3,475	​	​	286,671
Pandora A/S	​	1,920	​	​	101,218
SimCorp A/S	​	1,499	​	​	89,551
Vestas Wind Systems A/S	​	18,500	​	​	364,472
Total Denmark	​	​	​	​	6,423,918
Finland — 1.3%
Elisa OYJ	​	3,182	​	​	153,818
Fortum OYJ	​	9,212	​	​	129,696
Kesko OYJ, Class B	​	6,185	​	​	120,425
Kone OYJ, Class B	​	7,376	​	​	302,173
Metso Outotec OYJ	​	14,306	​	​	108,618
Neste OYJ	​	8,046	​	​	352,602
Nokia OYJ	​	103,904	​	​	462,838
Nordea Bank Abp*	​	67,298	​	​	643,588
Orion OYJ, Class B	​	1,830	​	​	84,194
Sampo OYJ, Class A	​	9,056	​	​	414,228
Stora Enso OYJ, Class R	​	11,817	​	​	154,050
UPM-Kymmene OYJ	​	10,302	​	​	345,270
Wartsila OYJ Abp	​	9,887	​	​	67,425
Total Finland	​	​	​	​	3,338,925
France — 9.5%
Accor SA*	​	5,122	​	​	122,711
Air Liquide SA	​	9,298	​	​	1,215,791
Airbus SE	​	10,407	​	​	1,127,110
Alstom SA	​	6,229	​	​	128,423
Arkema SA	​	1,376	​	​	108,961
AXA SA	​	34,014	​	​	840,441
BioMerieux	​	808	​	​	71,505
BNP Paribas SA	​	20,035	​	​	940,474
Bouygues SA	​	4,491	​	​	128,189
Bureau Veritas SA	​	7,063	​	​	175,006
Capgemini SE	​	3,034	​	​	498,525
Carrefour SA	​	11,353	​	​	182,729
Cie de Saint-Gobain	​	8,947	​	​	366,090
Cie Generale des Etablissements Michelin SCA	​	13,416	​	​	342,232
Credit Agricole SA	​	21,409	​	​	194,371
Danone SA	​	10,740	​	​	534,352
Dassault Systemes SE	​	12,720	​	​	426,812
Edenred	​	5,382	​	​	276,390
Eiffage SA	​	1,418	​	​	128,291
Electricite de France SA	​	10,407	​	​	122,915

​	Shares		Value
Common Stocks (continued)
France (continued)
Engie SA	​	31,914	​	$	414,905
EssilorLuxottica SA	​	5,597	​	​	887,021
Gecina SA	​	1,334	​	​	118,991
Getlink SE	​	10,746	​	​	170,251
Hermes International	​	583	​	​	755,119
Kering SA	​	1,357	​	​	621,909
Klepierre SA*	​	4,734	​	​	95,214
Legrand SA	​	5,185	​	​	395,310
L’Oreal SA	​	4,422	​	​	1,390,247
LVMH Moet Hennessy Louis Vuitton SE	​	4,614	​	​	2,913,990
Orange SA	​	36,006	​	​	342,733
Pernod Ricard SA	​	4,008	​	​	703,922
Publicis Groupe SA	​	4,521	​	​	253,532
Renault SA*	​	3,388	​	​	104,373
Rexel SA*	​	6,453	​	​	115,470
Safran SA	​	6,796	​	​	757,119
Sanofi	​	20,180	​	​	1,741,784
Sartorius Stedim Biotech	​	484	​	​	153,649
Societe Generale SA	​	14,432	​	​	331,277
Sodexo SA	​	1,856	​	​	164,617
Teleperformance	​	1,129	​	​	302,729
Thales SA	​	2,255	​	​	286,725
TotalEnergies SE	​	44,171	​	​	2,405,462
Ubisoft Entertainment SA*	​	2,037	​	​	55,908
Unibail-Rodamco-Westfield*	​	2,205	​	​	104,345
Valeo	​	5,134	​	​	84,688
Veolia Environnement SA	​	11,932	​	​	266,403
Vinci SA	​	9,352	​	​	861,265
Vivendi SE	​	13,529	​	​	110,768
Worldline SA*	​	5,001	​	​	219,062
Total France	​	​	​	​	25,060,106
Germany — 6.7%
adidas AG	​	3,388	​	​	331,437
Allianz SE	​	7,354	​	​	1,324,285
Aroundtown SA	​	24,548	​	​	48,718
BASF SE	​	17,054	​	​	765,819
Bayer AG	​	18,365	​	​	965,996
Bayerische Motoren Werke AG	​	6,575	​	​	516,752
Bechtle AG	​	1,904	​	​	65,863
Beiersdorf AG	​	2,061	​	​	197,954
Brenntag SE	​	3,196	​	​	194,074
Carl Zeiss Meditec AG	​	724	​	​	87,692
Commerzbank AG*	​	20,414	​	​	163,346
Continental AG	​	2,060	​	​	106,849
Covestro AG	​	3,619	​	​	123,186
CTS Eventim AG & Co. KGaA*	​	1,259	​	​	60,151
Daimler Truck Holding AG*	​	7,938	​	​	211,829
Deutsche Bank AG	​	38,391	​	​	366,536
Deutsche Boerse AG	​	3,393	​	​	552,148
Deutsche Post AG	​	18,139	​	​	643,781
Deutsche Telekom AG	​	62,890	​	​	1,191,180
E.ON SE	​	42,581	​	​	356,711

See notes to financial statements.

60

Schedule of Investments — IQ FTSE International Equity Currency Neutral ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Germany (continued)
Evotec SE*	​	3,116	​	$	59,484
Fresenius Medical Care AG & Co. KGaA	​	4,215	​	​	116,561
Fresenius SE & Co. KGaA	​	8,203	​	​	188,903
GEA Group AG	​	3,880	​	​	135,752
Hannover Rueck SE	​	1,196	​	​	194,804
HeidelbergCement AG	​	2,989	​	​	137,812
HelloFresh SE*	​	3,329	​	​	66,660
Henkel AG & Co. KGaA	​	1,639	​	​	96,303
Infineon Technologies AG	​	24,104	​	​	587,002
KION Group AG	​	1,622	​	​	36,022
Knorr-Bremse AG	​	1,418	​	​	63,851
LANXESS AG	​	2,271	​	​	76,875
LEG Immobilien SE	​	1,398	​	​	91,359
Mercedes-Benz Group AG	​	15,130	​	​	876,287
Merck KGaA	​	2,524	​	​	411,607
MTU Aero Engines AG	​	1,091	​	​	195,440
Muenchener Rueckversicherungs- Gesellschaft AG	​	2,621	​	​	692,689
Puma SE	​	2,101	​	​	93,049
Rheinmetall AG	​	962	​	​	156,405
RWE AG	​	11,756	​	​	453,025
SAP SE	​	20,319	​	​	1,961,431
Scout24 SE	​	1,936	​	​	99,269
Siemens AG	​	13,837	​	​	1,513,086
Siemens Energy AG(a)	​	8,150	​	​	95,170
Siemens Healthineers AG	​	4,917	​	​	226,365
Symrise AG	​	2,555	​	​	260,982
thyssenkrupp AG*	​	8,555	​	​	45,084
United Internet AG	​	2,328	​	​	43,544
Vonovia SE	​	14,438	​	​	319,643
Zalando SE*	​	4,338	​	​	100,026
Total Germany	​	​	​	​	17,668,797
Hong Kong — 2.2%
AIA Group Ltd.	​	222,027	​	​	1,681,498
ASMPT Ltd.	​	7,956	​	​	43,784
CK Asset Holdings Ltd.	​	43,390	​	​	239,893
CLP Holdings Ltd.	​	34,479	​	​	231,475
Hang Lung Properties Ltd.	​	46,594	​	​	58,585
Hang Seng Bank Ltd.	​	15,175	​	​	213,614
Henderson Land Development Co., Ltd.	​	39,314	​	​	96,259
Hong Kong & China Gas Co., Ltd.	​	231,421	​	​	178,655
Hong Kong Exchanges & Clearing Ltd.	​	24,049	​	​	640,298
Hongkong Land Holdings Ltd.	​	27,041	​	​	104,108
Jardine Matheson Holdings Ltd.	​	3,354	​	​	154,351
Link REIT	​	44,387	​	​	262,369
MTR Corp., Ltd.	​	34,303	​	​	150,980
New World Development Co., Ltd.	​	35,414	​	​	72,453
Power Assets Holdings Ltd.	​	31,028	​	​	148,423
Prudential PLC	​	48,869	​	​	456,197

​	Shares		Value
Common Stocks (continued)
Hong Kong (continued)
Sino Land Co., Ltd.	​	97,601	​	$	104,317
Sun Hung Kai Properties Ltd.	​	28,911	​	​	311,029
Swire Pacific Ltd., Class A	​	15,152	​	​	100,275
Techtronic Industries Co., Ltd.	​	26,273	​	​	248,845
WH Group Ltd.	​	187,671	​	​	94,913
Wharf Real Estate Investment Co., Ltd.	​	35,459	​	​	139,806
Total Hong Kong	​	​	​	​	5,732,127
Ireland — 0.4%
Bank of Ireland Group PLC	​	15,709	​	​	113,277
CRH PLC	​	13,912	​	​	501,188
Kerry Group PLC, Class A	​	2,880	​	​	250,487
Kingspan Group PLC	​	2,888	​	​	145,857
Smurfit Kappa Group PLC	​	5,264	​	​	174,184
Total Ireland	​	​	​	​	1,184,993
Israel — 0.8%
Bank Hapoalim BM	​	31,468	​	​	304,890
Bank Leumi Le-Israel BM	​	37,051	​	​	355,298
Big Shopping Centers Ltd.	​	976	​	​	109,982
Elbit Systems Ltd.	​	754	​	​	153,221
Enlight Renewable Energy Ltd.*	​	31,841	​	​	64,822
ICL Group Ltd.	​	19,122	​	​	173,426
Israel Discount Bank Ltd., Class A	​	35,124	​	​	200,794
Mizrahi Tefahot Bank Ltd.	​	3,073	​	​	116,738
Nice Ltd.*	​	1,495	​	​	284,515
Teva Pharmaceutical Industries Ltd.*	​	20,430	​	​	183,548
Tower Semiconductor Ltd.*	​	3,045	​	​	130,815
Total Israel	​	​	​	​	2,078,049
Italy — 2.0%
Assicurazioni Generali SpA	​	24,547	​	​	368,524
Atlantia SpA	​	11,529	​	​	257,291
Coca-Cola HBC AG*	​	4,619	​	​	101,176
Davide Campari-Milano NV	​	13,418	​	​	120,602
Enel SpA	​	146,625	​	​	654,877
Eni SpA	​	50,479	​	​	661,253
Ferrari NV	​	2,294	​	​	452,320
FinecoBank Banca Fineco SpA	​	12,396	​	​	167,111
Intesa Sanpaolo SpA	​	317,099	​	​	604,556
Mediobanca Banca di Credito Finanziario SpA(a)	​	19,159	​	​	173,679
Moncler SpA	​	4,639	​	​	200,316
Nexi SpA*	​	16,813	​	​	145,732
Prysmian SpA	​	6,285	​	​	204,926
Recordati Industria Chimica e Farmaceutica SpA	​	2,458	​	​	92,389
Snam SpA	​	50,546	​	​	224,907
Telecom Italia SpA*	​	376,489	​	​	73,713
Terna — Rete Elettrica Nazionale	​	34,781	​	​	230,592
UniCredit SpA	​	38,230	​	​	474,120
Total Italy	​	​	​	​	5,208,084

See notes to financial statements.

61​

Schedule of Investments — IQ FTSE International Equity Currency Neutral ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Japan — 23.2%
Advantest Corp.(a)	​	3,881	​	$	205,232
Aeon Co., Ltd.	​	15,087	​	​	281,825
AGC, Inc.	​	5,200	​	​	163,205
Aisin Corp.	​	4,247	​	​	109,007
Ajinomoto Co., Inc.	​	11,072	​	​	305,116
Aozora Bank Ltd.	​	5,552	​	​	95,512
Asahi Group Holdings Ltd.	​	11,011	​	​	308,472
Asahi Intecc Co., Ltd.	​	4,666	​	​	79,548
Asahi Kasei Corp.	​	28,689	​	​	184,234
Astellas Pharma, Inc.	​	37,947	​	​	522,478
Bandai Namco Holdings, Inc.	​	4,421	​	​	292,740
Bank of Kyoto Ltd. (The)	​	2,166	​	​	78,109
BayCurrent Consulting, Inc.	​	3,130	​	​	88,234
Bridgestone Corp.	​	12,146	​	​	438,166
Brother Industries Ltd.	​	6,468	​	​	110,139
Canon, Inc.	​	20,519	​	​	435,408
Capcom Co., Ltd.	​	4,497	​	​	125,408
Central Japan Railway Co.	​	3,849	​	​	447,088
Chubu Electric Power Co., Inc.	​	15,402	​	​	125,487
Chugai Pharmaceutical Co., Ltd.	​	13,713	​	​	318,295
Concordia Financial Group Ltd.	​	33,221	​	​	101,249
CyberAgent, Inc.	​	11,272	​	​	92,824
Dai Nippon Printing Co., Ltd.	​	7,539	​	​	151,302
Daifuku Co., Ltd.	​	2,275	​	​	104,387
Dai-ichi Life Holdings, Inc.	​	20,948	​	​	332,256
Daiichi Sankyo Co., Ltd.	​	36,403	​	​	1,167,512
Daikin Industries Ltd.	​	5,172	​	​	778,923
Daito Trust Construction Co., Ltd.	​	1,605	​	​	158,842
Daiwa House Industry Co., Ltd.	​	14,084	​	​	285,404
Daiwa Securities Group, Inc.	​	35,298	​	​	137,739
Denso Corp.	​	9,064	​	​	450,654
Dentsu Group, Inc.	​	5,058	​	​	157,728
Disco Corp.	​	613	​	​	147,234
East Japan Railway Co.	​	7,749	​	​	419,161
Eisai Co., Ltd.	​	6,325	​	​	381,879
ENEOS Holdings, Inc.	​	65,985	​	​	217,442
FANUC Corp.	​	3,764	​	​	497,106
Fast Retailing Co., Ltd.	​	1,037	​	​	579,006
Food & Life Cos. Ltd.	​	3,631	​	​	61,292
Fuji Electric Co., Ltd.	​	3,200	​	​	124,008
FUJIFILM Holdings Corp.	​	7,125	​	​	326,877
Fujitsu Ltd.	​	3,849	​	​	443,463
GLP J-Reit	​	148	​	​	153,442
Hamamatsu Photonics K.K.	​	3,385	​	​	153,496
Hankyu Hanshin Holdings, Inc.	​	6,366	​	​	189,093
Hirose Electric Co., Ltd.	​	990	​	​	128,616
Hitachi Ltd.	​	18,354	​	​	834,750
Honda Motor Co., Ltd.	​	32,511	​	​	737,778
Hoya Corp.	​	6,979	​	​	651,486
Ibiden Co., Ltd.	​	2,912	​	​	98,546
Idemitsu Kosan Co., Ltd.	​	6,091	​	​	133,184
Inpex Corp.	​	23,506	​	​	240,065
Isuzu Motors Ltd.	​	12,920	​	​	151,596

​	Shares		Value
Common Stocks (continued)
Japan (continued)
Ito En Ltd.	​	1,782	​	$	62,943
ITOCHU Corp.	​	26,749	​	​	692,683
J Front Retailing Co., Ltd.	​	8,351	​	​	67,534
Japan Airport Terminal Co., Ltd.*	​	1,673	​	​	71,812
Japan Exchange Group, Inc.	​	10,682	​	​	140,393
Japan Metropolitan Fund Invest	​	212	​	​	156,181
Japan Tobacco, Inc.	​	25,402	​	​	421,102
JFE Holdings, Inc.	​	12,486	​	​	114,498
JGC Holdings Corp.	​	6,800	​	​	81,983
JSR Corp.	​	4,004	​	​	76,344
Kajima Corp.	​	13,061	​	​	123,110
Kakaku.com, Inc.	​	3,973	​	​	67,386
Kansai Electric Power Co., Inc. (The)	​	15,495	​	​	117,488
Kansai Paint Co., Ltd.	​	5,558	​	​	72,544
Kao Corp.	​	9,641	​	​	362,587
Kawasaki Kisen Kaisha Ltd.	​	5,185	​	​	78,873
KDDI Corp.	​	32,071	​	​	948,310
Keio Corp.	​	3,215	​	​	112,909
Keisei Electric Railway Co., Ltd.	​	4,513	​	​	119,934
Keyence Corp.	​	3,681	​	​	1,394,785
Kikkoman Corp.	​	4,131	​	​	224,567
Kintetsu Group Holdings Co., Ltd.	​	5,059	​	​	171,203
Kirin Holdings Co., Ltd.	​	17,268	​	​	254,370
Kobayashi Pharmaceutical Co., Ltd.	​	1,643	​	​	87,326
Kobe Bussan Co., Ltd.	​	3,390	​	​	73,782
Koito Manufacturing Co., Ltd.	​	5,561	​	​	79,093
Komatsu Ltd.	​	19,209	​	​	368,064
Konami Group Corp.	​	2,314	​	​	101,661
Kubota Corp.	​	23,196	​	​	324,059
Kuraray Co., Ltd.	​	12,026	​	​	82,771
Kurita Water Industries Ltd.	​	3,734	​	​	137,166
Kyocera Corp.	​	6,232	​	​	311,988
Kyowa Kirin Co., Ltd.	​	6,563	​	​	154,764
Lasertec Corp.	​	1,547	​	​	221,587
Lixil Corp.	​	6,823	​	​	103,331
M3, Inc.	​	8,889	​	​	265,890
Makita Corp.	​	6,219	​	​	113,807
Marubeni Corp.	​	32,524	​	​	285,120
Marui Group Co., Ltd.	​	6,590	​	​	108,802
MatsukiyoCocokara & Co.	​	3,372	​	​	122,961
MEIJI Holdings Co., Ltd.	​	3,083	​	​	126,942
MINEBEA MITSUMI, Inc.	​	9,329	​	​	138,333
MISUMI Group, Inc.	​	6,488	​	​	138,809
Mitsubishi Chemical Group Corp.	​	30,756	​	​	139,073
Mitsubishi Corp.	​	23,351	​	​	633,282
Mitsubishi Electric Corp.	​	41,622	​	​	366,837
Mitsubishi Estate Co., Ltd.	​	24,382	​	​	307,246
Mitsubishi Heavy Industries Ltd.	​	6,896	​	​	237,545
Mitsubishi UFJ Financial Group, Inc.	​	229,038	​	​	1,077,889
Mitsui & Co., Ltd.	​	30,427	​	​	674,108
Mitsui Fudosan Co., Ltd.	​	19,288	​	​	369,773
Mitsui OSK Lines Ltd.	​	6,191	​	​	122,916
Mizuho Financial Group, Inc.	​	48,765	​	​	526,905

See notes to financial statements.

62

Schedule of Investments — IQ FTSE International Equity Currency Neutral ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Japan (continued)
MonotaRO Co., Ltd.	​	6,019	​	$	91,843
MS&AD Insurance Group Holdings, Inc.	​	9,907	​	​	262,680
Murata Manufacturing Co., Ltd.	​	11,180	​	​	549,090
NEC Corp.	​	5,716	​	​	189,399
Nexon Co., Ltd.	​	8,973	​	​	150,742
NGK Insulators Ltd.	​	7,474	​	​	87,344
NH Foods Ltd.	​	3,133	​	​	74,723
Nidec Corp.	​	8,717	​	​	483,134
Nihon M&A Center Holdings, Inc.	​	6,996	​	​	79,216
Nintendo Co., Ltd.	​	20,469	​	​	835,919
Nippon Building Fund, Inc.	​	38	​	​	168,991
Nippon Express Holdings, Inc.	​	2,093	​	​	105,189
Nippon Paint Holdings Co., Ltd.	​	20,207	​	​	129,153
Nippon Prologis REIT, Inc.	​	58	​	​	121,553
Nippon Steel Corp.	​	16,676	​	​	229,157
Nippon Telegraph & Telephone Corp.	​	24,102	​	​	663,865
Nippon Yusen K.K.	​	9,958	​	​	180,823
Nissan Chemical Corp.	​	3,171	​	​	142,939
Nissan Motor Co., Ltd.	​	40,719	​	​	129,963
Nisshin Seifun Group, Inc.	​	8,932	​	​	96,630
Nissin Foods Holdings Co., Ltd.	​	2,135	​	​	138,326
Nitori Holdings Co., Ltd.	​	1,821	​	​	165,824
Nitto Denko Corp.	​	3,575	​	​	188,329
Nomura Holdings, Inc.	​	67,266	​	​	218,043
Nomura Real Estate Master Fund, Inc.	​	163	​	​	185,882
Nomura Research Institute Ltd.	​	9,792	​	​	217,732
NSK Ltd.	​	15,566	​	​	82,315
NTT Data Corp.	​	15,402	​	​	223,515
Obayashi Corp.	​	19,916	​	​	127,963
Obic Co., Ltd.	​	1,574	​	​	236,892
Odakyu Electric Railway Co., Ltd.	​	9,567	​	​	113,863
Oji Holdings Corp.	​	26,731	​	​	92,799
Olympus Corp.	​	25,565	​	​	540,075
Omron Corp.	​	4,232	​	​	198,054
Ono Pharmaceutical Co., Ltd.	​	10,292	​	​	242,075
Oriental Land Co., Ltd.	​	3,980	​	​	534,201
ORIX Corp.	​	25,533	​	​	375,346
Orix JREIT, Inc.	​	93	​	​	124,826
Osaka Gas Co., Ltd.	​	9,159	​	​	135,689
Otsuka Corp.	​	2,548	​	​	80,485
Otsuka Holdings Co., Ltd.	​	9,500	​	​	304,619
Pan Pacific International Holdings Corp.	​	9,834	​	​	161,502
Panasonic Holdings Corp.	​	43,063	​	​	308,410
Rakuten Group, Inc.	​	22,494	​	​	100,791
Recruit Holdings Co., Ltd.	​	26,381	​	​	814,672
Renesas Electronics Corp.*	​	24,619	​	​	206,463
Resona Holdings, Inc.	​	55,761	​	​	209,974
Ricoh Co., Ltd.	​	14,583	​	​	106,943
Rohm Co., Ltd.	​	1,893	​	​	133,345
Ryohin Keikaku Co., Ltd.	​	8,893	​	​	83,823
Santen Pharmaceutical Co., Ltd.	​	11,309	​	​	77,455

​	Shares		Value
Common Stocks (continued)
Japan (continued)
SBI Holdings, Inc.	​	5,734	​	$	103,697
Secom Co., Ltd.	​	4,459	​	​	254,727
Sekisui Chemical Co., Ltd.	​	10,865	​	​	135,963
Sekisui House Ltd.	​	15,988	​	​	266,225
Seven & i Holdings Co., Ltd.	​	15,350	​	​	573,579
SG Holdings Co., Ltd.	​	8,925	​	​	118,412
Shimadzu Corp.	​	6,234	​	​	164,621
Shimano, Inc.	​	1,660	​	​	257,708
Shimizu Corp.	​	18,570	​	​	92,828
Shin-Etsu Chemical Co., Ltd.	​	7,602	​	​	794,800
Shionogi & Co., Ltd.	​	6,027	​	​	279,383
Shiseido Co., Ltd.	​	8,153	​	​	282,765
Shizuoka Financial Group, Inc.	​	17,005	​	​	107,314
Showa Denko K.K.	​	5,255	​	​	76,791
SMC Corp.	​	1,131	​	​	457,468
SoftBank Corp.	​	52,438	​	​	517,024
SoftBank Group Corp.	​	20,739	​	​	892,990
Sompo Holdings, Inc.	​	7,199	​	​	299,952
Sony Group Corp.	​	23,190	​	​	1,558,326
Stanley Electric Co., Ltd.	​	4,482	​	​	76,230
Subaru Corp.	​	12,697	​	​	197,799
SUMCO Corp.	​	8,953	​	​	113,784
Sumitomo Chemical Co., Ltd.	​	40,221	​	​	135,572
Sumitomo Corp.	​	25,743	​	​	328,293
Sumitomo Electric Industries Ltd.	​	18,407	​	​	192,448
Sumitomo Metal Mining Co., Ltd.	​	5,413	​	​	152,300
Sumitomo Mitsui Financial Group, Inc.	​	26,106	​	​	732,939
Sumitomo Mitsui Trust Holdings, Inc.	​	8,293	​	​	238,633
Sumitomo Realty & Development Co., Ltd.	​	9,155	​	​	210,343
Suntory Beverage & Food Ltd.	​	3,605	​	​	120,785
Suzuki Motor Corp.	​	8,815	​	​	297,718
Sysmex Corp.	​	3,849	​	​	207,890
T&D Holdings, Inc.	​	13,841	​	​	136,608
Taisei Corp.	​	4,892	​	​	133,462
Takeda Pharmaceutical Co., Ltd.	​	30,373	​	​	800,628
TDK Corp.	​	7,648	​	​	239,523
Teijin Ltd.	​	11,296	​	​	102,598
Terumo Corp.	​	13,781	​	​	419,452
TIS, Inc.	​	6,378	​	​	172,286
Tobu Railway Co., Ltd.	​	6,609	​	​	152,958
Toho Co., Ltd.	​	3,600	​	​	128,368
Tokio Marine Holdings, Inc.	​	38,296	​	​	693,340
Tokyo Electric Power Co., Holdings, Inc.*	​	30,339	​	​	98,997
Tokyo Electron Ltd.	​	2,771	​	​	736,211
Tokyo Gas Co., Ltd.	​	10,100	​	​	180,548
Tokyu Corp.	​	13,583	​	​	156,817
Tokyu Fudosan Holdings Corp.	​	17,530	​	​	89,045
TOPPAN, Inc.	​	8,005	​	​	119,508
Toray Industries, Inc.	​	36,295	​	​	176,915
Toshiba Corp.	​	8,996	​	​	313,575
Tosoh Corp.	​	7,987	​	​	86,998

See notes to financial statements.

63​

Schedule of Investments — IQ FTSE International Equity Currency Neutral ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Japan (continued)
TOTO Ltd.	​	4,332	​	$	123,867
Toyo Suisan Kaisha Ltd.	​	3,149	​	​	118,219
Toyota Industries Corp.	​	3,811	​	​	196,402
Toyota Motor Corp.	​	226,463	​	​	3,137,892
Toyota Tsusho Corp.	​	4,851	​	​	163,185
Trend Micro, Inc.	​	3,215	​	​	162,443
Unicharm Corp.	​	8,447	​	​	257,556
USS Co., Ltd.	​	7,291	​	​	110,222
West Japan Railway Co.	​	5,555	​	​	220,541
Yakult Honsha Co., Ltd.	​	3,582	​	​	198,578
Yamaha Corp.	​	4,347	​	​	164,363
Yamaha Motor Co., Ltd.	​	8,339	​	​	172,239
Yamato Holdings Co., Ltd.	​	8,091	​	​	119,976
Yaskawa Electric Corp.	​	6,062	​	​	168,440
Yokogawa Electric Corp.	​	6,424	​	​	107,661
Z Holdings Corp.	​	53,333	​	​	138,002
Zenkoku Hosho Co., Ltd.	​	2,542	​	​	83,972
Total Japan	​	​	​	​	61,360,698
Jordan — 0.0%(b)
Hikma Pharmaceuticals PLC	​	4,097	​	​	58,916
Luxembourg — 0.1%
ArcelorMittal SA	​	9,967	​	​	223,171
Eurofins Scientific SE	​	2,329	​	​	149,115
Total Luxembourg	​	​	​	​	372,286
Macau — 0.1%
Galaxy Entertainment Group Ltd.	​	44,078	​	​	201,303
Sands China Ltd.*	​	53,663	​	​	93,655
Total Macau	​	​	​	​	294,958
Netherlands — 4.9%
Adyen NV*	​	538	​	​	772,392
Aegon NV	​	37,762	​	​	174,853
Akzo Nobel NV	​	3,424	​	​	211,303
Argenx SE*	​	1,072	​	​	418,294
ASM International NV	​	947	​	​	210,405
ASML Holding NV	​	7,120	​	​	3,363,702
ASR Nederland NV	​	3,307	​	​	145,741
BE Semiconductor Industries NV	​	1,364	​	​	69,724
Euronext NV	​	1,636	​	​	103,969
Heineken Holding NV	​	2,089	​	​	142,668
Heineken NV	​	4,381	​	​	366,314
IMCD NV	​	953	​	​	123,671
ING Groep NV	​	71,661	​	​	705,002
Koninklijke Ahold Delhaize NV	​	18,259	​	​	509,806
Koninklijke DSM NV	​	3,213	​	​	378,844
Koninklijke KPN NV	​	62,996	​	​	176,263
Koninklijke Philips NV	​	16,822	​	​	213,112
NN Group NV	​	5,953	​	​	252,114
OCI NV	​	1,502	​	​	57,480
Randstad NV	​	2,468	​	​	123,035
Shell PLC	​	133,923	​	​	3,706,763

​	Shares		Value
Common Stocks (continued)
Netherlands (continued)
Universal Music Group NV	​	14,899	​	$	292,328
Wolters Kluwer NV	​	5,040	​	​	535,736
Total Netherlands	​	​	​	​	13,053,519
New Zealand — 0.4%
Auckland International Airport Ltd.*	​	37,399	​	​	167,297
Contact Energy Ltd.	​	24,273	​	​	106,465
Fisher & Paykel Healthcare Corp., Ltd.	​	16,383	​	​	186,357
Mainfreight Ltd.	​	2,718	​	​	120,069
Meridian Energy Ltd.	​	31,648	​	​	89,723
Spark New Zealand Ltd.	​	64,071	​	​	190,577
Xero Ltd.*	​	2,718	​	​	135,688
Total New Zealand	​	​	​	​	996,176
Norway — 0.8%
Aker BP ASA	​	6,155	​	​	196,191
DNB Bank ASA	​	20,826	​	​	368,572
Equinor ASA	​	18,515	​	​	677,338
Mowi ASA	​	9,383	​	​	139,930
Norsk Hydro ASA	​	29,854	​	​	189,458
Orkla ASA	​	20,999	​	​	141,705
Schibsted ASA, Class A	​	4,217	​	​	64,937
Telenor ASA	​	15,894	​	​	144,465
TOMRA Systems ASA	​	5,334	​	​	86,201
Total Norway	​	​	​	​	2,008,797
Poland — 0.2%
Dino Polska SA*	​	1,230	​	​	80,482
KGHM Polska Miedz SA	​	3,642	​	​	73,018
LPP SA	​	27	​	​	46,911
Polski Koncern Naftowy ORLEN SA	​	10,113	​	​	116,404
Powszechna Kasa Oszczednosci Bank Polski SA	​	19,064	​	​	104,163
Powszechny Zaklad Ubezpieczen SA	​	14,475	​	​	81,304
Total Poland	​	​	​	​	502,282
Portugal — 0.2%
EDP — Energias de Portugal SA	​	64,948	​	​	284,046
Galp Energia SGPS SA	​	12,259	​	​	124,493
Total Portugal	​	​	​	​	408,539
Singapore — 1.5%
CapitaLand Ascendas REIT	​	120,942	​	​	223,919
CapitaLand Integrated Commercial Trust	​	159,567	​	​	211,989
Capitaland Investment Ltd/Singapore	​	67,310	​	​	143,172
DBS Group Holdings Ltd.	​	35,737	​	​	863,688
Genting Singapore Ltd.	​	234,793	​	​	133,565
Keppel Corp., Ltd.	​	38,790	​	​	191,058
Mapletree Industrial Trust	​	89,739	​	​	139,514
Oversea-Chinese Banking Corp., Ltd.	​	69,932	​	​	599,446
Singapore Exchange Ltd.	​	23,765	​	​	141,404
Singapore Technologies Engineering Ltd.	​	55,243	​	​	128,826

See notes to financial statements.

64

Schedule of Investments — IQ FTSE International Equity Currency Neutral ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Singapore (continued)
Singapore Telecommunications Ltd.	​	171,124	​	$	302,318
STMicroelectronics NV	​	11,889	​	​	371,315
United Overseas Bank Ltd.	​	26,486	​	​	519,576
Total Singapore	​	​	​	​	3,969,790
South Africa — 0.3%
Anglo American PLC	​	22,740	​	​	682,946
South Korea — 4.6%
Amorepacific Corp.	​	928	​	​	60,392
Celltrion Healthcare Co., Ltd.	​	2,646	​	​	129,100
Celltrion, Inc.	​	2,298	​	​	309,745
CJ CheilJedang Corp.	​	338	​	​	98,236
Coway Co., Ltd.	​	2,259	​	​	87,699
Delivery Hero SE*(a)	​	3,665	​	​	120,803
Doosan Enerbility*	​	8,747	​	​	81,363
Hana Financial Group, Inc.	​	7,345	​	​	212,701
Hankook Tire & Technology Co., Ltd.	​	2,932	​	​	75,232
Hanwha Solutions Corp.*	​	2,344	​	​	77,670
HLB, Inc.*	​	2,244	​	​	63,801
HMM Co., Ltd.	​	7,219	​	​	96,797
HYBE Co., Ltd.*	​	475	​	​	40,349
Hyundai Mobis Co., Ltd.	​	1,468	​	​	225,696
Hyundai Motor Co.	​	3,429	​	​	395,992
Industrial Bank of Korea	​	15,874	​	​	116,454
Kakao Corp.	​	6,459	​	​	229,893
KakaoBank Corp.*	​	4,167	​	​	50,023
KB Financial Group, Inc.	​	8,709	​	​	293,775
Kia Corp.	​	5,644	​	​	262,696
Korea Electric Power Corp.*	​	7,799	​	​	91,708
Korea Zinc Co., Ltd.	​	246	​	​	110,527
Korean Air Lines Co., Ltd.*	​	5,862	​	​	95,063
Krafton, Inc.*	​	710	​	​	88,473
KT&G Corp.	​	3,567	​	​	239,645
L&F Co., Ltd.*	​	487	​	​	76,924
LG Chem Ltd.	​	982	​	​	431,557
LG Corp.	​	2,905	​	​	161,519
LG Display Co., Ltd.	​	8,030	​	​	71,875
LG Electronics, Inc.	​	2,530	​	​	144,932
LG Energy Solution Ltd.*	​	693	​	​	256,874
LG H&H Co., Ltd.	​	250	​	​	89,508
LG Innotek Co., Ltd.	​	324	​	​	67,441
NAVER Corp.	​	2,872	​	​	341,749
NCSoft Corp.	​	435	​	​	119,099
POSCO Holdings, Inc.	​	1,635	​	​	285,805
Samsung Biologics Co., Ltd.*	​	462	​	​	284,442
Samsung C&T Corp.	​	2,391	​	​	198,907
Samsung Electro-Mechanics Co., Ltd.	​	1,451	​	​	123,255
Samsung Electronics Co., Ltd.	​	88,876	​	​	3,706,156
Samsung Fire & Marine Insurance Co., Ltd.	​	938	​	​	131,700
Samsung SDI Co., Ltd.	​	1,088	​	​	562,923
Samsung SDS Co., Ltd.	​	1,446	​	​	126,891
Shinhan Financial Group Co., Ltd.	​	11,579	​	​	295,074

​	Shares		Value
Common Stocks (continued)
South Korea (continued)
SK Hynix, Inc.	​	10,491	​	$	609,081
SK Innovation Co., Ltd.*	​	1,098	​	​	133,353
SK Square Co. Ltd.*	​	2,483	​	​	64,409
SK Telecom Co., Ltd.	​	1,992	​	​	70,062
SK, Inc.	​	982	​	​	147,529
Woori Financial Group, Inc.	​	20,015	​	​	165,100
Total South Korea	​	​	​	​	12,319,998
Spain — 2.2%
ACS Actividades de Construccion y Servicios SA	​	5,814	​	​	149,115
Aena SME SA*	​	1,472	​	​	173,345
Amadeus IT Group SA*	​	8,111	​	​	422,789
Banco Bilbao Vizcaya Argentaria SA	​	116,545	​	​	600,009
Banco Santander SA(a)	​	310,416	​	​	804,427
Bankinter SA	​	18,947	​	​	114,530
CaixaBank SA	​	83,353	​	​	276,226
Cellnex Telecom SA*	​	11,305	​	​	369,835
EDP Renovaveis SA	​	3,735	​	​	78,665
Endesa SA	​	5,674	​	​	94,689
Ferrovial SA	​	10,271	​	​	250,839
Grifols SA*(a)	​	8,771	​	​	74,604
Iberdrola SA	​	110,120	​	​	1,118,298
Industria de Diseno Textil SA(a)	​	19,809	​	​	449,123
Naturgy Energy Group SA	​	3,018	​	​	77,434
Red Electrica Corp. SA	​	8,813	​	​	142,414
Repsol SA	​	25,207	​	​	342,433
Siemens Gamesa Renewable Energy SA*	​	4,406	​	​	78,210
Telefonica SA	​	97,800	​	​	336,861
Total Spain	​	​	​	​	5,953,846
Sweden — 2.9%
Alfa Laval AB	​	6,749	​	​	166,184
Assa Abloy AB, B Shares	​	17,234	​	​	347,785
Atlas Copco AB, A Shares	​	46,409	​	​	495,737
Atlas Copco AB, B Shares(a)	​	27,359	​	​	264,765
Boliden AB	​	5,981	​	​	174,064
Castellum AB(a)	​	7,024	​	​	80,280
Epiroc AB, A Shares(a)	​	11,857	​	​	181,389
Epiroc AB, B Shares	​	7,739	​	​	103,895
EQT AB	​	6,106	​	​	120,236
Essity AB, B Shares	​	12,135	​	​	256,307
Evolution AB	​	3,090	​	​	288,854
Getinge AB, B Shares	​	5,207	​	​	105,691
H & M Hennes & Mauritz AB, B Shares(a)	​	17,463	​	​	175,729
Hexagon AB, B Shares	​	35,358	​	​	349,406
Husqvarna AB, B Shares	​	12,218	​	​	72,531
Industrivarden AB, A Shares	​	9,205	​	​	208,416
Indutrade AB	​	6,453	​	​	112,908
Investor AB, B Shares(a)	​	41,930	​	​	684,361
Kinnevik AB, B Shares*	​	6,629	​	​	81,884
Nibe Industrier AB, B Shares	​	27,299	​	​	217,642

See notes to financial statements.

65​

Schedule of Investments — IQ FTSE International Equity Currency Neutral ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Sweden (continued)
Saab AB, B Shares	​	2,364	​	$	83,475
Sandvik AB	​	20,752	​	​	324,131
Skandinaviska Enskilda Banken AB, A Shares	​	28,248	​	​	297,806
Skanska AB, B Shares	​	9,334	​	​	145,115
SKF AB, B Shares	​	8,090	​	​	116,989
Svenska Cellulosa AB SCA, B Shares	​	12,238	​	​	144,303
Svenska Handelsbanken AB, A Shares	​	28,488	​	​	264,631
Swedbank AB, A Shares	​	19,548	​	​	291,262
Swedish Match AB	​	32,111	​	​	330,105
Tele2 AB, B Shares(a)	​	12,215	​	​	100,060
Telefonaktiebolaget LM Ericsson, B Shares	​	56,854	​	​	315,900
Telia Co. AB(a)	​	51,047	​	​	135,119
Trelleborg AB, B Shares	​	6,531	​	​	143,794
Volvo AB, B Shares	​	32,023	​	​	523,939
Total Sweden	​	​	​	​	7,704,693
Switzerland — 5.4%
ABB Ltd.	​	29,319	​	​	815,629
Accelleron Industries AG*	​	1,477	​	​	25,061
Adecco Group AG	​	3,404	​	​	106,601
Alcon, Inc.	​	8,345	​	​	508,163
Baloise Holding AG	​	1,052	​	​	143,806
Barry Callebaut AG	​	47	​	​	88,951
Chocoladefabriken Lindt & Spruengli AG	​	33	​	​	316,563
Cie Financiere Richemont SA, Class A	​	9,386	​	​	918,576
Clariant AG*	​	6,580	​	​	105,924
Credit Suisse Group AG(a)	​	45,836	​	​	189,161
EMS-Chemie Holding AG	​	158	​	​	99,386
Geberit AG	​	711	​	​	316,371
Givaudan SA	​	184	​	​	549,748
Holcim AG*	​	9,355	​	​	425,147
Julius Baer Group Ltd.	​	4,267	​	​	204,535
Kuehne + Nagel International AG	​	858	​	​	182,960
Logitech International SA	​	2,854	​	​	142,165
Lonza Group AG	​	1,393	​	​	717,414
Novartis AG	​	37,933	​	​	3,066,480
Partners Group Holding AG	​	422	​	​	379,262
PSP Swiss Property AG	​	1,094	​	​	116,970
Schindler Holding AG — Participating Certificate	​	1,050	​	​	171,284
SGS SA	​	111	​	​	245,015
SIG Group AG*	​	6,714	​	​	129,081
Sika AG	​	2,756	​	​	621,838
Sonova Holding AG	​	1,052	​	​	248,822
Straumann Holding AG	​	2,095	​	​	199,671
Swatch Group AG (The) — Bearer	​	697	​	​	156,986
Swiss Life Holding AG	​	613	​	​	297,021
Swiss Prime Site AG	​	1,850	​	​	149,368
Swisscom AG	​	492	​	​	243,013
Tecan Group AG	​	304	​	​	111,606
Temenos AG	​	1,196	​	​	71,348

​	Shares		Value
Common Stocks (continued)
Switzerland (continued)
UBS Group AG	​	56,968	​	$	904,543
VAT Group AG	​	480	​	​	109,742
Zurich Insurance Group AG	​	2,673	​	​	1,141,317
Total Switzerland	​	​	​	​	14,219,528
United Kingdom — 11.1%
3i Group PLC	​	17,557	​	​	234,585
abrdn PLC	​	46,993	​	​	86,027
Admiral Group PLC	​	5,070	​	​	117,739
Ashtead Group PLC	​	8,312	​	​	435,434
Associated British Foods PLC	​	6,841	​	​	106,291
AstraZeneca PLC	​	27,197	​	​	3,210,846
Auto Trader Group PLC	​	19,172	​	​	115,136
Aviva PLC	​	51,599	​	​	248,386
B&M European Value Retail SA	​	18,143	​	​	67,387
BAE Systems PLC	​	61,649	​	​	578,055
Barclays PLC	​	298,667	​	​	508,100
Barratt Developments PLC	​	20,626	​	​	89,339
Bellway PLC	​	3,048	​	​	65,097
Berkeley Group Holdings PLC	​	2,238	​	​	89,438
BP PLC	​	346,192	​	​	1,912,416
British American Tobacco PLC	​	40,496	​	​	1,600,864
British Land Co. PLC (The)	​	19,287	​	​	81,252
BT Group PLC	​	131,520	​	​	196,549
Bunzl PLC	​	7,164	​	​	234,332
Burberry Group PLC	​	8,119	​	​	169,662
Centrica PLC	​	106,640	​	​	94,074
CK Hutchison Holdings Ltd.	​	55,620	​	​	276,334
CNH Industrial NV	​	19,892	​	​	257,647
Compass Group PLC	​	33,288	​	​	703,856
Croda International PLC	​	2,595	​	​	201,971
DCC PLC	​	1,981	​	​	110,391
Dechra Pharmaceuticals PLC	​	2,063	​	​	62,231
Diageo PLC	​	41,054	​	​	1,700,677
Direct Line Insurance Group PLC	​	27,873	​	​	64,760
Entain PLC	​	11,813	​	​	171,778
Experian PLC	​	17,518	​	​	559,495
Haleon PLC*	​	92,279	​	​	284,736
Halma PLC	​	6,979	​	​	169,945
Howden Joinery Group PLC	​	13,134	​	​	77,726
HSBC Holdings PLC	​	357,277	​	​	1,839,963
IMI PLC	​	5,496	​	​	77,705
Imperial Brands PLC	​	18,280	​	​	447,029
Informa PLC	​	30,057	​	​	192,271
InterContinental Hotels Group PLC	​	3,985	​	​	215,457
Intermediate Capital Group PLC	​	6,229	​	​	76,164
Intertek Group PLC	​	3,237	​	​	136,181
ITV PLC	​	87,694	​	​	67,647
JD Sports Fashion PLC	​	50,458	​	​	56,607
Johnson Matthey PLC(a)	​	3,618	​	​	80,583
Just Eat Takeaway.com NV*	​	3,957	​	​	67,893
Kingfisher PLC	​	43,863	​	​	110,548
Land Securities Group PLC	​	17,197	​	​	112,937

See notes to financial statements.

66

Schedule of Investments — IQ FTSE International Equity Currency Neutral ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
United Kingdom (continued)
Legal & General Group PLC	​	105,373	​	$	282,556
Lloyds Banking Group PLC	​	1,250,893	​	​	605,176
London Stock Exchange Group PLC	​	6,416	​	​	558,902
M&G PLC	​	52,431	​	​	105,761
Melrose Industries PLC	​	85,326	​	​	114,842
National Grid PLC	​	64,465	​	​	703,916
NatWest Group PLC	​	87,974	​	​	237,825
Next PLC	​	2,310	​	​	131,092
Ocado Group PLC*(a)	​	10,819	​	​	58,844
Pearson PLC	​	15,803	​	​	174,742
Persimmon PLC	​	6,470	​	​	97,212
Reckitt Benckiser Group PLC	​	12,984	​	​	864,055
RELX PLC	​	34,656	​	​	934,082
Rentokil Initial PLC	​	36,198	​	​	226,886
Rightmove PLC	​	17,611	​	​	99,719
Rolls-Royce Holdings PLC*	​	172,814	​	​	155,494
Sage Group PLC (The)	​	21,418	​	​	179,225
Schroders PLC	​	10,947	​	​	49,369
Segro PLC	​	20,991	​	​	189,718
Severn Trent PLC	​	5,059	​	​	145,791
Smith & Nephew PLC	​	16,816	​	​	199,418
Smiths Group PLC	​	7,878	​	​	141,542
Spirax-Sarco Engineering PLC	​	1,459	​	​	180,580
SSE PLC	​	18,733	​	​	335,600
St James’s Place PLC	​	10,127	​	​	124,175
Standard Chartered PLC	​	45,312	​	​	271,387
Tate & Lyle PLC	​	10,360	​	​	83,615
Taylor Wimpey PLC	​	70,555	​	​	76,180
Tesco PLC	​	136,049	​	​	336,931
Unilever PLC	​	46,526	​	​	2,129,038
United Utilities Group PLC	​	13,564	​	​	146,705
Vodafone Group PLC	​	474,789	​	​	555,611
Weir Group PLC (The)	​	5,757	​	​	100,916
Whitbread PLC	​	4,907	​	​	145,309
WPP PLC	​	21,100	​	​	186,087
Total United Kingdom	​	​	​	​	29,291,842
United States — 6.2%
Amcor PLC	​	32,709	​	​	378,367
Computershare Ltd.	​	12,186	​	​	196,913
CSL Ltd.	​	9,194	​	​	1,648,975
Ferguson PLC	​	3,879	​	​	424,723
GSK PLC	​	72,040	​	​	1,185,087
James Hardie Industries PLC	​	8,330	​	​	181,105
Nestle SA	​	50,121	​	​	5,461,098
QIAGEN NV*	​	4,846	​	​	209,303
Roche Holding AG	​	13,139	​	​	4,366,100
Samsonite International SA*	​	26,204	​	​	56,348
Schneider Electric SE	​	9,802	​	​	1,242,555
Signify NV	​	1,938	​	​	53,747

​	Shares		Value
Common Stocks (continued)
United States (continued)
Stellantis NV*	​	37,858	​	$	511,114
Swiss Re AG	​	5,514	​	​	409,934
Tenaris SA	​	7,552	​	​	117,222
Total United States	​	​	​	​	16,442,591
Total Common Stocks (Cost $303,164,681)	​	​	​	​	263,005,910
Preferred Stocks — 0.5%
Germany — 0.3%
Henkel AG & Co. KGaA, 2.96%	​	3,574	​	​	225,293
Sartorius AG, 0.29%	​	502	​	​	177,175
Volkswagen AG, 5.31%	​	3,957	​	​	505,835
Total Germany	​	​	​	​	908,303
South Korea — 0.2%
Samsung Electronics Co., Ltd., 2.56%	​	14,867	​	​	556,293
Total Preferred Stocks (Cost $1,679,217)	​	​	​	​	1,464,596
Rights — 0.0%(b)
South Korea — 0.0%(b)
HLB, Inc., expires 11/28/22*(c) (Cost $0)	​	184	​	​	114
Short-Term Investment — 0.4%
Money Market Fund — 0.4%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.91%(d)(e) (Cost $1,097,062)	​	1,097,062	​	​	1,097,062
Total Investments — 100.2% (Cost $305,940,960)	​	​	​	​	265,567,682
Other Assets and Liabilities, Net — (0.2)%	​	​	​	​	(658,510)
Net Assets — 100.0%	​	​	​	$	264,909,172

*

Non-income producing securities.

(a)

All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $3,117,925; total market value of collateral held by the Fund was $3,322,457. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of  $2,225,396.

(b)

Less than 0.05%.

(c)

Security is fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. The security is fair valued using significant unobservable inputs.

(d)

Reflects the 1-day yield at October 31, 2022.

(e)

Represents security purchased with cash collateral received for securities on loan.

See notes to financial statements.

67​

Schedule of Investments — IQ FTSE International Equity Currency Neutral ETF (continued)

October 31, 2022 (unaudited)

Forward Foreign Currency Contracts Outstanding as of October 31, 2022:

Purchased Contracts

Settlement Date

Counterparty

Currency Amount Purchased

Value at Settlement Date

Value at October 31, 2022

Unrealized Appreciation

Australian Dollar

​

11/07/22

Morgan Stanley

​

16,135,461

​

$

10,319,128

​

$

10,319,896

​

$

768

Swiss Franc

​

11/07/22

Morgan Stanley

​

11,654,051

​

​

11,651,092

​

​

11,654,132

​

​

3,040

Danish Krone

​

11/07/22

Morgan Stanley

​

22,251,519

​

​

2,954,815

​

​

2,955,608

​

​

793

Euro

​

11/07/22

Morgan Stanley

​

34,968,301

​

​

34,571,865

​

​

34,578,001

​

​

6,136

British Pound

​

11/07/22

Morgan Stanley

​

16,525,711

​

​

19,028,910

​

​

19,030,465

​

​

1,555

Israeli Shekel

​

11/07/22

Morgan Stanley

​

3,423,891

​

​

972,965

​

​

973,261

​

​

296

Japanese Yen

​

11/07/22

Morgan Stanley

​

4,327,704,510

​

​

29,130,811

​

​

29,138,880

​

​

8,069

South Korean Won#

​

11/07/22

Morgan Stanley

​

8,428,469,324

​

​

5,916,791

​

​

5,917,190

​

​

399

Norwegian Krone

​

11/07/22

Morgan Stanley

​

10,618,491

​

​

1,021,377

​

​

1,021,545

​

​

168

New Zealand Dollar

​

11/07/22

Morgan Stanley

​

704,700

​

​

409,404

​

​

409,442

​

​

38

Swedish Krona

​

11/07/22

Morgan Stanley

​

39,721,938

​

​

3,595,419

​

​

3,596,208

​

​

789

Unrealized Appreciation

​

​

​

​

​

​

$

119,572,577

​

$

119,594,628

​

$

22,051

Sold Contracts

Settlement Date

Counterparty

Currency Amount Sold

Value at Settlement Date

Value at October 31, 2022

Unrealized Appreciation

Australian Dollar

​

11/07/22

Morgan Stanley

​

(14,901,978)

​

$

(9,584,416)

​

$

(9,530,986)

​

$

53,430

Swiss Franc

​

11/07/22

Morgan Stanley

​

(10,774,762)

​

​

(10,978,219)

​

​

(10,774,837)

​

​

203,382

Hong Kong Dollar

​

11/07/22

Morgan Stanley

​

(28,129,694)

​

​

(3,585,610)

​

​

(3,583,969)

​

​

1,641

Japanese Yen

​

11/07/22

Morgan Stanley

​

(3,997,715,077)

​

​

(27,706,007)

​

​

(26,917,027)

​

​

788,980

South Korean Won#

​

11/07/22

Morgan Stanley

​

(295,100,546)

​

​

(208,106)

​

​

(207,175)

​

​

931

Polish Zloty

​

12/05/22

Morgan Stanley

​

(1,193,342)

​

​

(249,142)

​

​

(248,822)

​

​

320

Swedish Krona

​

11/07/22

Morgan Stanley

​

(912,366)

​

​

(83,150)

​

​

(82,600)

​

​

550

Unrealized Appreciation

​

​

​

​

​

​

$

(52,394,650)

​

$

(51,345,416)

​

$

1,049,234

Total Unrealized Appreciation

​

​

​

​

​

​

​

​

​

​

​

​

$

1,071,285

Purchased Contracts

Settlement Date

Counterparty

Currency Amount Purchased

Value at Settlement Date

Value at October 31, 2022

Unrealized (Depreciation)

Hong Kong Dollar

​

11/07/22

Morgan Stanley

​

28,129,694

​

$

3,584,046

​

$

3,583,969

​

$

(77)

Hong Kong Dollar

​

11/07/22

Morgan Stanley

​

1,090,680

​

​

228,480

​

​

228,390

​

​

(90)

Singapore Dollar

​

11/07/22

Morgan Stanley

​

2,625,155

​

​

1,855,344

​

​

1,855,182

​

​

(162)

Unrealized Depreciation

​

​

​

​

​

​

$

5,667,870

​

$

5,667,541

​

$

(329)

Sold Contracts

Settlement Date

Counterparty

Currency Amount Sold

Value at Settlement Date

Value at October 31, 2022

Unrealized (Depreciation)

Australian Dollar

​

11/07/22

Morgan Stanley

​

(1,233,483)

​

$

(776,249)

​

$

(788,909)

​

$

(12,660)

Australian Dollar

​

12/05/22

Morgan Stanley

​

(17,099,811)

​

​

(10,941,981)

​

​

(10,946,100)

​

​

(4,119)

Swiss Franc

​

11/07/22

Morgan Stanley

​

(879,289)

​

​

(877,188)

​

​

(879,295)

​

​

(2,107)

Swiss Franc

​

12/05/22

Morgan Stanley

​

(12,249,792)

​

​

(12,282,180)

​

​

(12,289,799)

​

​

(7,619)

Danish Krone

​

11/07/22

Morgan Stanley

​

(22,251,519)

​

​

(2,938,705)

​

​

(2,955,608)

​

​

(16,903)

Danish Krone

​

12/05/22

Morgan Stanley

​

(24,224,162)

​

​

(3,223,529)

​

​

(3,224,980)

​

​

(1,451)

Euro

​

11/07/22

Morgan Stanley

​

(34,968,301)

​

​

(34,336,198)

​

​

(34,578,001)

​

​

(241,803)

Euro

​

12/05/22

Morgan Stanley

​

(37,893,744)

​

​

(37,533,943)

​

​

(37,552,636)

​

​

(18,693)

British Pound

​

11/07/22

Morgan Stanley

​

(16,525,711)

​

​

(18,472,464)

​

​

(19,030,465)

​

​

(558,001)

British Pound

​

12/05/22

Morgan Stanley

​

(17,118,511)

​

​

(19,724,051)

​

​

(19,730,506)

​

​

(6,455)

Hong Kong Dollar

​

12/05/22

Morgan Stanley

​

(24,714,716)

​

​

(3,150,071)

​

​

(3,150,350)

​

​

(279)

Israeli Shekel

​

11/07/22

Morgan Stanley

​

(3,423,891)

​

​

(965,598)

​

​

(973,261)

​

​

(7,663)

Israeli Shekel

​

12/05/22

Morgan Stanley

​

(3,656,847)

​

​

(1,040,805)

​

​

(1,041,618)

​

​

(813)

Japanese Yen

​

11/07/22

Morgan Stanley

​

(329,989,433)

​

​

(2,207,455)

​

​

(2,221,853)

​

​

(14,398)

Japanese Yen

​

12/05/22

Morgan Stanley

​

(4,560,173,690)

​

​

(30,788,780)

​

​

(30,808,182)

​

​

(19,402)

South Korean Won#

​

11/07/22

Morgan Stanley

​

(8,133,368,778)

​

​

(5,667,569)

​

​

(5,710,015)

​

​

(42,446)

See notes to financial statements.

68

Schedule of Investments — IQ FTSE International Equity Currency Neutral ETF (continued)

October 31, 2022 (unaudited)

Sold Contracts

Settlement Date

Counterparty

Currency Amount Sold

Value at Settlement Date

Value at October 31, 2022

Unrealized (Depreciation)

South Korean Won#

​

12/05/22

Morgan Stanley

​

(9,084,776,800)

​

$

(6,345,713)

​

$

(6,380,139)

​

$

(34,426)

Norwegian Krone

​

11/07/22

Morgan Stanley

​

(10,618,491)

​

​

(977,528)

​

​

(1,021,545)

​

​

(44,017)

Norwegian Krone

​

12/05/22

Morgan Stanley

​

(11,126,751)

​

​

(1,071,156)

​

​

(1,071,456)

​

​

(300)

New Zealand Dollar

​

11/07/22

Morgan Stanley

​

(704,700)

​

​

(398,863)

​

​

(409,442)

​

​

(10,579)

New Zealand Dollar

​

12/05/22

Morgan Stanley

​

(740,587)

​

​

(430,429)

​

​

(430,490)

​

​

(61)

Polish Zloty

​

11/07/22

Morgan Stanley

​

(1,090,680)

​

​

(219,854)

​

​

(228,390)

​

​

(8,536)

Swedish Krona

​

11/07/22

Morgan Stanley

​

(38,809,572)

​

​

(3,500,351)

​

​

(3,513,608)

​

​

(13,257)

Swedish Krona

​

12/05/22

Morgan Stanley

​

(42,625,809)

​

​

(3,864,839)

​

​

(3,867,206)

​

​

(2,367)

Singapore Dollar

​

11/07/22

Morgan Stanley

​

(2,625,155)

​

​

(1,830,878)

​

​

(1,855,182)

​

​

(24,304)

Singapore Dollar

​

12/05/22

Morgan Stanley

​

(2,609,941)

​

​

(1,844,581)

​

​

(1,844,750)

​

​

(169)

Unrealized Depreciation

​

​

​

​

​

​

$

(205,410,958)

​

$

(206,503,786)

​

$

(1,092,828)

Total Unrealized Depreciation

​

​

​

​

​

​

​

​

​

​

​

​

$

(1,093,157)

Net Unrealized Appreciation (Depreciation)

​

​

​

​

​

​

​

​

​

​

​

​

$

(21,872)

As of October 31, 2022, there was no collateral segregated by the counterparty for forward foreign currency contracts.

#

Non-deliverable forward.

The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2022. 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

​

$

263,005,910

​

$

—

​

$

—

​

$

263,005,910

Preferred Stocks

​

​

1,464,596

​

​

—

​

​

—

​

​

1,464,596

Right

​

​

—

​

​

—

​

​

114(g)

​

​

114

Short-Term Investment:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Fund

​

​

1,097,062

​

​

​

​

​

—

​

​

1,097,062

Total Investments in Securities

​

​

265,567,568

​

​

—

​

​

114

​

​

265,567,682

Other Financial Instruments:(h)

​

​

​

​

​

​

​

​

​

​

​

​

Forward Foreign Currency Contracts

​

​

—

​

​

1,071,285

​

​

—

​

​

1,071,285

Total Investments in Securities and Other Financial Instruments

​

$

265,567,568

​

$

1,071,285

​

$

114

​

$

266,638,967

Liability Valuation Inputs

​

​

​

​

​

​

​

​

​

​

​

​

Other Financial Instruments:(h)

​

​

​

​

​

​

​

​

​

​

​

​

Forward Foreign Currency Contracts

​

$

—

​

$

1,093,157

​

$

���

​

$

1,093,157

(f)

For a complete listing of investments and their countries, see the Schedule of Investments.

(g)

The Level 3 security, valued at $114, has been fair valued in good faith in accordance with procedures established by the Board of Trustees.

(h)

Reflects the unrealized appreciation (depreciation) of the instruments.

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.

69​

Schedule of Investments — IQ Chaikin U.S. Large Cap ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks — 99.8%
Communication Services — 5.8%
Alphabet, Inc., Class A*	​	22,650	​	$	2,140,651
Electronic Arts, Inc.	​	24,898	​	​	3,136,152
Meta Platforms, Inc., Class A*	​	14,166	​	​	1,319,705
Netflix, Inc.*	​	8,409	​	​	2,454,419
Snap, Inc., Class A*	​	87,521	​	​	867,333
T-Mobile US, Inc.*	​	24,541	​	​	3,719,434
Walt Disney Co. (The)*	​	22,965	​	​	2,446,691
Total Communication Services	​	​	​	​	16,084,385
Consumer Discretionary — 13.1%
AutoZone, Inc.*	​	1,541	​	​	3,903,168
Chipotle Mexican Grill, Inc.*	​	1,991	​	​	2,983,175
Dollar General Corp.	​	14,148	​	​	3,608,448
DR Horton, Inc.	​	42,274	​	​	3,250,025
Home Depot, Inc. (The)	​	10,523	​	​	3,116,176
Las Vegas Sands Corp.*	​	81,036	​	​	3,080,178
Lennar Corp., Class A	​	38,806	​	​	3,131,644
Lowe’s Cos., Inc.	​	15,579	​	​	3,037,126
O’Reilly Automotive, Inc.*	​	4,599	​	​	3,850,145
Peloton Interactive, Inc., Class A*(a)	​	119,223	​	​	1,001,473
Starbucks Corp.	​	34,625	​	​	2,998,179
Target Corp.	​	14,842	​	​	2,437,799
Total Consumer Discretionary	​	​	​	​	36,397,536
Consumer Staples — 4.4%
Altria Group, Inc.	​	60,285	​	​	2,789,387
Keurig Dr Pepper, Inc.	​	83,110	​	​	3,227,993
Kraft Heinz Co. (The)	​	79,966	​	​	3,076,292
Philip Morris International, Inc.	​	33,531	​	​	3,079,822
Total Consumer Staples	​	​	​	​	12,173,494
Energy — 3.9%
Chevron Corp.	​	19,344	​	​	3,499,330
Exxon Mobil Corp.	​	38,139	​	​	4,226,183
Kinder Morgan, Inc.	​	166,571	​	​	3,018,266
Total Energy	​	​	​	​	10,743,779
Financials — 12.6%
BlackRock, Inc.	​	4,122	​	​	2,662,441
Charles Schwab Corp. (The)	​	37,361	​	​	2,976,551
Chubb Ltd.	​	14,726	​	​	3,164,470
First Republic Bank	​	19,432	​	​	2,333,783
Marsh & McLennan Cos., Inc.	​	18,483	​	​	2,984,820
MetLife, Inc.	​	44,819	​	​	3,281,199
Moody’s Corp.	​	9,335	​	​	2,472,561
Nasdaq, Inc.	​	53,028	​	​	3,300,463
PNC Financial Services Group, Inc. (The)	​	17,077	​	​	2,763,571
Progressive Corp. (The)	​	27,633	​	​	3,548,077
Travelers Cos., Inc. (The)	​	17,238	​	​	3,179,721
US Bancorp	​	59,264	​	​	2,515,757
Total Financials	​	​	​	​	35,183,414
Health Care — 20.1%
Abbott Laboratories	​	26,613	​	​	2,633,090
AbbVie, Inc.	​	19,430	​	​	2,844,552
Centene Corp.*	​	37,414	​	​	3,185,054
Cigna Corp.	​	13,146	​	​	4,246,947

​	Shares		Value
Common Stocks (continued)
Health Care (continued)
CVS Health Corp.	​	31,122	​	$	2,947,253
Danaher Corp.	​	10,738	​	​	2,702,433
Elevance Health, Inc.	​	6,412	​	​	3,505,889
Gilead Sciences, Inc.	​	52,983	​	​	4,157,046
IDEXX Laboratories, Inc.*	​	5,758	​	​	2,071,037
IQVIA Holdings, Inc.*	​	13,623	​	​	2,856,334
McKesson Corp.	​	10,289	​	​	4,006,228
Mettler-Toledo International, Inc.*	​	2,294	​	​	2,901,749
Pfizer, Inc.	​	60,843	​	​	2,832,242
Regeneron Pharmaceuticals, Inc.*	​	4,510	​	​	3,376,863
Thermo Fisher Scientific, Inc.	​	5,333	​	​	2,741,002
UnitedHealth Group, Inc.	​	6,177	​	​	3,429,162
Vertex Pharmaceuticals, Inc.*	​	12,070	​	​	3,765,840
West Pharmaceutical Services, Inc.	​	7,669	​	​	1,764,637
Total Health Care	​	​	​	​	55,967,358
Industrials — 13.0%
3M Co.	​	21,157	​	​	2,661,339
Caterpillar, Inc.	​	14,136	​	​	3,059,879
Cummins, Inc.	​	15,357	​	​	3,754,940
Deere & Co.	​	7,582	​	​	3,001,107
Emerson Electric Co.	​	32,125	​	​	2,782,025
General Dynamics Corp.	​	13,060	​	​	3,262,388
General Electric Co.	​	34,425	​	​	2,678,609
Lockheed Martin Corp.	​	7,136	​	​	3,472,948
Old Dominion Freight Line, Inc.	​	10,546	​	​	2,895,932
Otis Worldwide Corp.	​	40,934	​	​	2,891,578
Republic Services, Inc.	​	23,773	​	​	3,152,775
Southwest Airlines Co.*	​	68,774	​	​	2,499,935
Total Industrials	​	​	​	​	36,113,455
Information Technology — 23.4%
Amphenol Corp., Class A	​	41,803	​	​	3,169,921
Analog Devices, Inc.	​	19,069	​	​	2,719,621
Broadcom, Inc.	​	5,002	​	​	2,351,540
Cisco Systems, Inc.	​	56,490	​	​	2,566,341
Cognizant Technology Solutions Corp., Class A	​	35,127	​	​	2,186,656
Crowdstrike Holdings, Inc., Class A*	​	13,871	​	​	2,236,005
DocuSign, Inc.*	​	29,405	​	​	1,420,261
Fidelity National Information Services, Inc.	​	31,367	​	​	2,603,147
Fiserv, Inc.*	​	31,064	​	​	3,191,515
Fortinet, Inc.*	​	46,086	​	​	2,634,276
HP, Inc.	​	86,773	​	​	2,396,670
Intel Corp.	​	63,557	​	​	1,806,926
Intuit, Inc.	​	6,551	​	​	2,800,553
Marvell Technology, Inc.	​	43,925	​	​	1,742,944
Microsoft Corp.	​	10,217	​	​	2,371,672
Motorola Solutions, Inc.	​	13,005	​	​	3,247,479
NXP Semiconductors NV	​	17,019	​	​	2,486,136
Palo Alto Networks, Inc.*	​	15,180	​	​	2,604,736
QUALCOMM, Inc.	​	20,612	​	​	2,425,208
Roper Technologies, Inc.	​	6,670	​	​	2,764,982
Salesforce, Inc.*	​	14,835	​	​	2,412,023
ServiceNow, Inc.*	​	5,656	​	​	2,379,705
Texas Instruments, Inc.	​	17,167	​	​	2,757,535
Twilio, Inc., Class A*(a)	​	19,112	​	​	1,421,359

See notes to financial statements.

70

Schedule of Investments — IQ Chaikin U.S. Large Cap ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Information Technology (continued)
Workday, Inc., Class A*	​	13,154	​	$	2,049,656
Zoom Video Communications, Inc., Class A*	​	26,869	​	​	2,241,949
Zscaler, Inc.*(a)	​	13,055	​	​	2,011,776
Total Information Technology	​	​	​	​	65,000,592
Materials — 0.9%
LyondellBasell Industries NV, Class A	​	32,082	​	​	2,452,669
Real Estate — 1.7%
Crown Castle, Inc.	​	17,063	​	​	2,273,815
Equinix, Inc.	​	4,247	​	​	2,405,671
Total Real Estate	​	​	​	​	4,679,486
Utilities — 0.9%
Duke Energy Corp.	​	28,209	​	​	2,628,515

​	Shares	Value
Total Investments — 99.8%
(Cost $288,040,901)	​	​	$	277,424,683
Other Assets and Liabilities, Net — 0.2%	​	​	​	458,734
Net Assets — 100.0%	​	​	$	277,883,417

*

Non-income producing securities.

(a)

All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $3,359,566; total market value of collateral held consisted of non-cash U.S. Treasury securities collateral having a value of $3,464,981.

The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2022. 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:(b)

​

​

​

​

​

​

​

​

​

​

​

​

Common Stocks

​

$

277,424,683

​

$

—

​

$

—

​

$

277,424,683

Total Investments in Securities

​

$

277,424,683

​

$

—

​

$

—

​

$

277,424,683

(b)

For a complete listing of investments and their industries, see the Schedule of Investments.

For the period ended October 31, 2022, 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.

71​

Schedule of Investments — IQ Chaikin U.S. Small Cap ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks — 99.9%
Communication Services — 2.3%
Advantage Solutions, Inc.*	​	81,809	​	$	276,514
AMC Networks, Inc., Class A*	​	12,846	​	​	289,164
Bandwidth, Inc., Class A*	​	16,115	​	​	191,285
Cogent Communications Holdings, Inc.	​	7,867	​	​	413,096
EchoStar Corp., Class A*	​	21,444	​	​	404,648
EW Scripps Co. (The), Class A*	​	25,105	​	​	356,240
Gray Television, Inc.	​	23,649	​	​	334,633
Liberty Latin America Ltd., Class C*	​	54,425	​	​	423,971
Liberty Media Corp.-Liberty Braves, Class C*	​	18,701	​	​	582,723
Scholastic Corp.	​	12,958	​	​	494,218
Shenandoah Telecommunications Co.	​	22,135	​	​	501,579
World Wrestling Entertainment, Inc., Class A(a)	​	8,359	​	​	659,442
Yelp, Inc.*	​	15,302	​	​	587,750
Total Communication Services	​	​	​	​	5,515,263
Consumer Discretionary — 10.4%
Aaron’s Co., Inc. (The)	​	25,993	​	​	270,847
America’s Car-Mart, Inc.*	​	6,478	​	​	442,836
AMMO, Inc.*(a)	​	108,738	​	​	353,399
Arko Corp.	​	57,356	​	​	587,899
Asbury Automotive Group, Inc.*	​	3,258	​	​	513,950
Buckle, Inc. (The)	​	15,797	​	​	621,296
Carter’s, Inc.	​	5,674	​	​	385,094
Cavco Industries, Inc.*	​	2,167	​	​	491,194
Cheesecake Factory, Inc. (The)(a)	​	13,117	​	​	469,720
Cracker Barrel Old Country Store, Inc.	​	4,396	​	​	502,111
Denny’s Corp.*	​	36,474	​	​	413,250
Dorman Products, Inc.*	​	5,493	​	​	448,339
Ethan Allen Interiors, Inc.	​	20,398	​	​	521,985
GoPro, Inc., Class A*	​	61,189	​	​	333,480
Graham Holdings Co., Class B	​	854	​	​	532,785
Grand Canyon Education, Inc.*	​	5,375	​	​	540,886
H&R Block, Inc.	​	20,043	​	​	824,770
Haverty Furniture Cos., Inc.	​	19,035	​	​	505,950
Johnson Outdoors, Inc., Class A	​	6,715	​	​	353,343
Laureate Education, Inc.	​	47,641	​	​	602,182
Leslie’s, Inc.*	​	26,960	​	​	378,518
Levi Strauss & Co., Class A	​	26,414	​	​	395,153
LGI Homes, Inc.*(a)	​	5,344	​	​	491,915
Lovesac Co. (The)*	​	9,655	​	​	235,003
Malibu Boats, Inc., Class A*	​	8,998	​	​	475,994
MDC Holdings, Inc.	​	13,794	​	​	420,165
Meritage Homes Corp.*	​	6,587	​	​	501,666
Monarch Casino & Resort, Inc.*	​	5,983	​	​	475,110
Murphy USA, Inc.	​	2,610	​	​	820,871
OneSpaWorld Holdings Ltd.*	​	51,171	​	​	464,121
OneWater Marine, Inc., Class A*	​	15,151	​	​	499,983
Oxford Industries, Inc.	​	5,768	​	​	586,779
Perdoceo Education Corp.*	​	45,465	​	​	519,665
Poshmark, Inc., Class A*	​	41,228	​	​	736,332
Quotient Technology, Inc.*	​	81,809	​	​	201,250
Rush Street Interactive, Inc.*	​	71,793	​	​	297,941
Shift Technologies, Inc.*(a)	​	237,246	​	​	125,740
Shoe Carnival, Inc.	​	17,899	​	​	429,218
Skyline Champion Corp.*	​	9,510	​	​	553,577

​	Shares		Value
Common Stocks (continued)
Consumer Discretionary (continued)
Smith & Wesson Brands, Inc.	​	34,497	​	$	389,471
Standard Motor Products, Inc.	​	12,099	​	​	458,915
Steven Madden Ltd.	​	13,508	​	​	403,484
Stoneridge, Inc.*	​	25,141	​	​	524,693
Strategic Education, Inc.	​	7,863	​	​	542,547
Stride, Inc.*	​	14,367	​	​	481,438
Sturm Ruger & Co., Inc.	​	7,497	​	​	420,807
Taylor Morrison Home Corp.*	​	19,174	​	​	505,043
Travel + Leisure Co.	​	9,009	​	​	342,162
Tri Pointe Homes, Inc.*	​	25,993	​	​	435,383
Universal Electronics, Inc.*	​	16,708	​	​	341,010
Vista Outdoor, Inc.*	​	14,624	​	​	424,681
Vivint Smart Home, Inc.*	​	77,210	​	​	590,657
Winmark Corp.	​	2,372	​	​	596,890
Total Consumer Discretionary	​	​	​	​	24,781,498
Consumer Staples — 3.9%
Andersons, Inc. (The)	​	10,385	​	​	366,279
BellRing Brands, Inc.*	​	22,614	​	​	547,711
Central Garden & Pet Co., Class A*	​	12,799	​	​	500,953
Coca-Cola Consolidated, Inc.	​	1,050	​	​	511,360
Energizer Holdings, Inc.	​	16,968	​	​	490,206
Fresh Del Monte Produce, Inc.	​	20,144	​	​	525,356
John B Sanfilippo & Son, Inc.	​	6,385	​	​	532,573
MGP Ingredients, Inc.	​	6,098	​	​	683,281
Mission Produce, Inc.*	​	41,260	​	​	686,566
Nu Skin Enterprises, Inc., Class A	​	10,901	​	​	416,309
PriceSmart, Inc.	​	6,617	​	​	423,289
Rite Aid Corp.*	​	59,650	​	​	311,373
Seaboard Corp.	​	124	​	​	464,551
SpartanNash Co.(a)	​	15,821	​	​	564,968
Sprouts Farmers Market, Inc.*(a)	​	16,321	​	​	481,470
TreeHouse Foods, Inc.*	​	16,179	​	​	812,833
Turning Point Brands, Inc.	​	15,346	​	​	361,552
United Natural Foods, Inc.*	​	12,623	​	​	535,341
Total Consumer Staples	​	​	​	​	9,215,971
Energy — 5.4%
Archrock, Inc.	​	56,548	​	​	424,676
Brigham Minerals, Inc., Class A	​	20,428	​	​	633,268
Bristow Group, Inc.*	​	14,077	​	​	421,465
Cactus, Inc., Class A	​	9,199	​	​	475,772
ChampionX Corp.	​	21,321	​	​	610,207
Chord Energy Corp.	​	4,069	​	​	622,923
Civitas Resources, Inc.(a)	​	8,741	​	​	611,083
Comstock Resources, Inc.*	​	39,995	​	​	751,106
Core Laboratories NV	​	16,501	​	​	321,109
CVR Energy, Inc.	​	22,151	​	​	865,218
Delek US Holdings, Inc.	​	24,805	​	​	735,716
DMC Global, Inc.*	​	17,112	​	​	370,304
Equitrans Midstream Corp.	​	61,841	​	​	520,701
Gevo, Inc.*	​	111,526	​	​	250,934
Green Plains, Inc.*	​	16,831	​	​	486,248
HF Sinclair Corp.	​	13,098	​	​	801,205
Kosmos Energy Ltd.*	​	72,593	​	​	471,129
Laredo Petroleum, Inc.*	​	6,595	​	​	426,367
Matador Resources Co.	​	9,852	​	​	654,665

See notes to financial statements.

72

Schedule of Investments — IQ Chaikin U.S. Small Cap ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Energy (continued)
PBF Energy, Inc., Class A*	​	21,417	​	$	947,702
Southwestern Energy Co.*	​	72,795	​	​	504,469
U.S. Silica Holdings, Inc.*	​	27,971	​	​	402,503
World Fuel Services Corp.	​	19,302	​	​	492,008
Total Energy	​	​	​	​	12,800,778
Financials — 24.1%
1st Source Corp.	​	11,285	​	​	656,336
A-Mark Precious Metals, Inc.	​	13,967	​	​	424,736
Amerant Bancorp, Inc.	​	16,522	​	​	497,312
American Equity Investment Life Holding Co.	​	13,078	​	​	563,400
Ameris Bancorp	​	11,895	​	​	612,711
Ares Commercial Real Estate Corp.	​	33,631	​	​	415,007
Argo Group International Holdings Ltd.	​	12,644	​	​	314,456
AssetMark Financial Holdings, Inc.*	​	23,458	​	​	485,815
Associated Banc-Corp.	​	22,932	​	​	558,394
Atlantic Union Bankshares Corp.	​	14,226	​	​	491,366
Axis Capital Holdings Ltd.	​	8,631	​	​	471,857
Banc of California, Inc.	​	26,960	​	​	449,693
Bancorp, Inc. (The)*	​	18,423	​	​	508,106
Bank of Hawaii Corp.	​	6,220	​	​	472,409
BankUnited, Inc.	​	11,873	​	​	426,834
Banner Corp.	​	8,917	​	​	666,546
Berkshire Hills Bancorp, Inc.	​	18,017	​	​	526,997
Blucora, Inc.*	​	26,698	​	​	588,157
Brighthouse Financial, Inc.*	​	10,103	​	​	576,578
Cannae Holdings, Inc.*	​	21,821	​	​	505,374
Chimera Investment Corp.	​	43,350	​	​	292,613
CNO Financial Group, Inc.	​	20,803	​	​	458,914
Columbia Banking System, Inc.	​	16,174	​	​	541,344
Community Trust Bancorp, Inc.	​	12,669	​	​	599,117
ConnectOne Bancorp, Inc.	​	16,306	​	​	408,465
Cowen, Inc., Class A	​	19,260	​	​	743,821
CrossFirst Bankshares, Inc.*	​	33,118	​	​	460,671
CVB Financial Corp.	​	22,488	​	​	645,855
Diamond Hill Investment Group, Inc.	​	2,787	​	​	501,521
Dime Community Bancshares, Inc.	​	15,099	​	​	521,368
Eagle Bancorp, Inc.	​	9,155	​	​	414,538
Employers Holdings, Inc.	​	13,031	​	​	568,282
Enova International, Inc.*	​	13,746	​	​	515,338
Enstar Group Ltd.*	​	1,999	​	​	400,840
Enterprise Financial Services Corp.	​	11,033	​	​	589,935
FB Financial Corp.	​	11,751	​	​	493,072
Federated Hermes, Inc.	​	15,324	​	​	532,509
First BankCorp	​	12,496	​	​	556,947
First Foundation, Inc.	​	21,488	​	​	342,949
First Interstate BancSystem, Inc., Class A	​	14,194	​	​	647,388
First Merchants Corp.	​	12,547	​	​	563,360
FirstCash Holdings, Inc.	​	7,420	​	​	730,499
Flushing Financial Corp.	​	23,353	​	​	460,054
FNB Corp.	​	41,922	​	​	605,773
Fulton Financial Corp.	​	31,404	​	​	572,495
German American Bancorp, Inc.	​	13,739	​	​	539,805
Great Southern Bancorp, Inc.	​	8,845	​	​	548,213
Hanmi Financial Corp.	​	21,208	​	​	567,950
HarborOne Bancorp, Inc.	​	37,228	​	​	566,982
Heartland Financial USA, Inc.	​	10,913	​	​	538,229

​	Shares		Value
Common Stocks (continued)
Financials (continued)
Heritage Commerce Corp.	​	46,395	​	$	663,449
Heritage Financial Corp.	​	20,828	​	​	701,695
Hilltop Holdings, Inc.	​	17,753	​	​	513,949
Home BancShares, Inc.	​	23,094	​	​	588,666
HomeStreet, Inc.	​	11,016	​	​	285,975
Hope Bancorp, Inc.	​	32,459	​	​	440,469
Horace Mann Educators Corp.	​	12,478	​	​	492,382
Houlihan Lokey, Inc.	​	5,945	​	​	531,007
Independent Bank Corp.	​	6,389	​	​	555,907
Independent Bank Group, Inc.	​	7,334	​	​	462,702
Kinsale Capital Group, Inc.	​	2,289	​	​	721,424
Lakeland Bancorp, Inc.	​	31,254	​	​	582,887
Merchants Bancorp	​	19,063	​	​	456,559
MGIC Investment Corp.	​	38,519	​	​	525,784
Midland States Bancorp, Inc.	​	18,085	​	​	507,103
Moelis & Co., Class A	​	11,117	​	​	472,028
National Bank Holdings Corp., Class A	​	12,958	​	​	567,820
NBT Bancorp, Inc.	​	14,446	​	​	684,596
New York Mortgage Trust, Inc.	​	142,998	​	​	384,665
Nicolet Bankshares, Inc.*	​	5,578	​	​	425,546
Northfield Bancorp, Inc.	​	36,347	​	​	583,006
OFG Bancorp	​	19,592	​	​	546,225
Old National Bancorp	​	31,865	​	​	623,279
Oportun Financial Corp.*	​	36,347	​	​	199,909
Origin Bancorp, Inc.	​	12,342	​	​	510,095
PacWest Bancorp	​	12,102	​	​	300,856
Pathward Financial, Inc.	​	9,503	​	​	399,411
Peapack-Gladstone Financial Corp.	​	15,020	​	​	594,341
PennyMac Financial Services, Inc.	​	9,811	​	​	523,123
Peoples Bancorp, Inc.	​	16,670	​	​	504,601
Piper Sandler Cos.	​	3,976	​	​	508,809
PJT Partners, Inc., Class A	​	8,269	​	​	615,214
Preferred Bank	​	7,044	​	​	541,472
Premier Financial Corp.	​	17,209	​	​	496,480
Provident Financial Services, Inc.	​	22,305	​	​	500,078
QCR Holdings, Inc.	​	9,223	​	​	467,698
Regional Management Corp.	​	10,746	​	​	364,934
Republic Bancorp, Inc., Class A	​	11,615	​	​	538,355
S&T Bancorp, Inc.	​	17,645	​	​	667,157
Safety Insurance Group, Inc.	​	5,745	​	​	499,528
Sandy Spring Bancorp, Inc.	​	11,620	​	​	411,813
Sculptor Capital Management, Inc.	​	37,469	​	​	397,546
Seacoast Banking Corp. of Florida	​	14,904	​	​	460,534
Selectquote, Inc.*	​	187,075	​	​	126,089
ServisFirst Bancshares, Inc.	​	5,478	​	​	412,658
Simmons First National Corp., Class A	​	19,907	​	​	475,180
Stellar Bancorp, Inc.	​	16,836	​	​	552,894
StepStone Group, Inc., Class A	​	15,787	​	​	466,032
Texas Capital Bancshares, Inc.*	​	9,107	​	​	546,420
Tompkins Financial Corp.	​	6,669	​	​	552,460
Towne Bank	​	17,433	​	​	574,243
TriCo Bancshares	​	13,038	​	​	755,031
Trustmark Corp.	​	17,175	​	​	628,090
UMB Financial Corp.	​	5,372	​	​	447,058
United Bankshares, Inc.(a)	​	14,964	​	​	633,725
United Community Banks, Inc.	​	14,998	​	​	577,423
United Fire Group, Inc.	​	16,799	​	​	455,253
Virtu Financial, Inc., Class A	​	14,023	​	​	313,835

See notes to financial statements.

73​

Schedule of Investments — IQ Chaikin U.S. Small Cap ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Financials (continued)
Virtus Investment Partners, Inc.	​	2,175	​	$	372,991
Washington Federal, Inc.	​	15,903	​	​	615,446
Wintrust Financial Corp.	​	5,617	​	​	525,864
WSFS Financial Corp.	​	11,196	​	​	521,286
Total Financials	​	​	​	​	57,511,986
Health Care — 12.8%
ACADIA Pharmaceuticals, Inc.*	​	21,550	​	​	345,447
AdaptHealth Corp.*	​	32,560	​	​	742,368
Addus HomeCare Corp.*	​	5,594	​	​	572,938
Aerie Pharmaceuticals, Inc.*	​	57,356	​	​	872,958
Aligos Therapeutics, Inc.*	​	242,763	​	​	254,901
Allakos, Inc.*(a)	​	91,568	​	​	533,842
Allscripts Healthcare Solutions, Inc.*	​	23,177	​	​	340,702
ALX Oncology Holdings, Inc.*(a)	​	30,884	​	​	374,932
Amneal Pharmaceuticals, Inc.*	​	125,165	​	​	275,363
Amphastar Pharmaceuticals, Inc.*	​	14,539	​	​	449,255
Arcturus Therapeutics Holdings, Inc.*(a)	​	19,360	​	​	342,672
Atea Pharmaceuticals, Inc.*	​	72,291	​	​	433,746
Avanos Medical, Inc.*	​	15,580	​	​	345,097
Avidity Biosciences, Inc.*	​	28,259	​	​	403,539
Axogen, Inc.*	​	65,736	​	​	750,705
Bioventus, Inc., Class A*(a)	​	37,017	​	​	301,318
Cara Therapeutics, Inc.*	​	42,958	​	​	403,805
CareDx, Inc.*	​	14,111	​	​	280,950
Catalyst Pharmaceuticals, Inc.*	​	62,960	​	​	873,255
Certara, Inc.*	​	24,299	​	​	297,177
Collegium Pharmaceutical, Inc.*	​	25,636	​	​	459,910
Corcept Therapeutics, Inc.*	​	23,177	​	​	662,862
Cross Country Healthcare, Inc.*	​	24,086	​	​	893,350
Eagle Pharmaceuticals, Inc.*	​	10,546	​	​	331,883
Ensign Group, Inc. (The)	​	5,799	​	​	520,634
HealthStream, Inc.*	​	26,202	​	​	647,189
ICU Medical, Inc.*	​	2,344	​	​	347,873
IGM Biosciences, Inc.*	​	19,526	​	​	390,520
Immunovant, Inc.*(a)	​	94,726	​	​	1,060,931
Inhibrx, Inc.*(a)	​	23,427	​	​	753,881
Innoviva, Inc.*(a)	​	26,974	​	​	365,767
Inogen, Inc.*	​	16,099	​	​	364,803
Integer Holdings Corp.*	​	6,478	​	​	403,774
Ironwood Pharmaceuticals, Inc.*	​	41,490	​	​	453,901
Karyopharm Therapeutics, Inc.*	​	70,820	​	​	337,103
Kronos Bio, Inc.*	​	72,191	​	​	213,685
MeiraGTx Holdings PLC*	​	37,685	​	​	273,970
Merit Medical Systems, Inc.*	​	7,847	​	​	539,638
ModivCare, Inc.*	​	4,523	​	​	439,817
Morphic Holding, Inc.*(a)	​	13,000	​	​	364,130
Myriad Genetics, Inc.*	​	20,712	​	​	429,567
National HealthCare Corp.	​	7,432	​	​	452,757
Nektar Therapeutics*	​	96,835	​	​	364,100
NextGen Healthcare, Inc.*	​	24,961	​	​	500,218
Olema Pharmaceuticals, Inc.*	​	122,521	​	​	460,679
OPKO Health, Inc.*(a)	​	151,726	​	​	288,279
Orthofix Medical, Inc.*	​	15,961	​	​	256,334
Owens & Minor, Inc.	​	11,857	​	​	201,569
Passage Bio, Inc.*	​	168,368	​	​	205,409
Patterson Cos., Inc.	​	16,125	​	​	418,766

​	Shares		Value
Common Stocks (continued)
Health Care (continued)
Phreesia, Inc.*	​	19,801	​	$	540,963
Prelude Therapeutics, Inc.*(a)	​	75,644	​	​	506,058
Prestige Consumer Healthcare, Inc.*	​	9,859	​	​	537,118
Rocket Pharmaceuticals, Inc.*	​	32,910	​	​	614,101
Rubius Therapeutics, Inc.*	​	94,726	​	​	32,112
SeaSpine Holdings Corp.*	​	42,922	​	​	275,989
SI-BONE, Inc.*	​	23,094	​	​	448,947
Silk Road Medical, Inc.*	​	12,641	​	​	557,215
Silverback Therapeutics, Inc.*	​	148,701	​	​	924,920
Sorrento Therapeutics, Inc.*	​	224,008	​	​	351,693
Supernus Pharmaceuticals, Inc.*	​	16,149	​	​	553,426
Surmodics, Inc.*	​	11,514	​	​	393,088
Sutro Biopharma, Inc.*(a)	​	63,496	​	​	465,426
uniQure NV*	​	28,884	​	​	537,820
Varex Imaging Corp.*(a)	​	24,516	​	​	542,049
Xencor, Inc.*	​	19,563	​	​	547,764
Total Health Care	​	​	​	​	30,426,958
Industrials — 18.3%
AAR Corp.*	​	10,777	​	​	477,637
ABM Industries, Inc.	​	11,337	​	​	504,610
Air Transport Services Group, Inc.*	​	15,604	​	​	455,637
Alamo Group, Inc.	​	3,630	​	​	552,050
Allegiant Travel Co.*	​	3,214	​	​	241,211
Ameresco, Inc., Class A*(a)	​	6,565	​	​	397,051
API Group Corp.*	​	24,819	​	​	409,265
Applied Industrial Technologies, Inc.	​	5,084	​	​	632,348
Arcosa, Inc.	​	9,117	​	​	585,311
Array Technologies, Inc.*	​	46,313	​	​	838,265
Astec Industries, Inc.	​	12,138	​	​	529,824
Atlas Air Worldwide Holdings, Inc.*	​	6,043	​	​	611,189
AZZ, Inc.	​	10,819	​	​	434,924
Barnes Group, Inc.	​	12,987	​	​	459,350
Barrett Business Services, Inc.	​	6,737	​	​	587,601
Blue Bird Corp.*	​	27,733	​	​	254,312
BrightView Holdings, Inc.*	​	38,350	​	​	342,082
Brink’s Co. (The)	​	7,676	​	​	457,720
CBIZ, Inc.*	​	12,436	​	​	617,323
Cimpress PLC*	​	8,208	​	​	191,082
Columbus McKinnon Corp.	​	12,309	​	​	351,053
Comfort Systems USA, Inc.	​	5,864	​	​	722,914
CRA International, Inc.	​	6,194	​	​	636,372
Deluxe Corp.	​	17,260	​	​	317,239
Douglas Dynamics, Inc.	​	15,089	​	​	512,272
Ducommun, Inc.*	​	9,962	​	​	470,306
Encore Wire Corp.	​	4,575	​	​	629,474
EnPro Industries, Inc.	​	5,341	​	​	568,817
Evoqua Water Technologies Corp.*	​	11,110	​	​	435,290
Federal Signal Corp.	​	15,465	​	​	721,442
Forrester Research, Inc.*	​	9,251	​	​	391,502
Franklin Electric Co., Inc.	​	6,285	​	​	514,993
Genco Shipping & Trading Ltd.	​	22,098	​	​	296,113
GEO Group, Inc. (The)*	​	78,963	​	​	668,027
Global Industrial Co.	​	16,194	​	​	513,998
Gorman-Rupp Co. (The)	​	14,547	​	​	394,806
Granite Construction, Inc.	​	15,913	​	​	536,745
Great Lakes Dredge & Dock Corp.*	​	37,202	​	​	281,247

See notes to financial statements.

74

Schedule of Investments — IQ Chaikin U.S. Small Cap ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Industrials (continued)
Greenbrier Cos., Inc. (The)	​	10,132	​	$	357,761
Heidrick & Struggles International, Inc.	​	13,187	​	​	371,346
Heritage-Crystal Clean, Inc.*	​	17,627	​	​	484,214
Hillenbrand, Inc.	​	11,817	​	​	522,075
HNI Corp.	​	14,088	​	​	408,411
Hub Group, Inc., Class A*	​	6,760	​	​	524,576
Huron Consulting Group, Inc.*	​	11,393	​	​	838,867
Hyster-Yale Materials Handling, Inc.	​	15,717	​	​	458,308
ICF International, Inc.	​	5,544	​	​	663,229
IES Holdings, Inc.*	​	12,984	​	​	428,991
Insteel Industries, Inc.	​	14,111	​	​	371,825
JetBlue Airways Corp.*	​	34,912	​	​	280,692
John Bean Technologies Corp.	​	4,405	​	​	401,736
Kadant, Inc.	​	2,687	​	​	478,152
Kaman Corp.	​	12,004	​	​	385,328
KAR Auction Services, Inc.*	​	28,916	​	​	420,149
Kelly Services, Inc., Class A	​	24,064	​	​	393,206
Kforce, Inc.	​	7,056	​	​	446,433
Kirby Corp.*	​	7,231	​	​	504,362
Korn Ferry	​	8,037	​	​	446,777
Marten Transport Ltd.	​	29,389	​	​	551,632
Matson, Inc.	​	4,327	​	​	318,381
Matthews International Corp., Class A	​	16,130	​	​	433,574
McGrath RentCorp	​	6,142	​	​	577,655
Moog, Inc., Class A	​	5,945	​	​	503,839
MSC Industrial Direct Co., Inc., Class A	​	6,125	​	​	508,253
Mueller Industries, Inc.	​	9,635	​	​	603,536
MYR Group, Inc.*	​	5,550	​	​	485,681
Parsons Corp.*	​	13,486	​	​	632,224
PGT Innovations, Inc.*	​	29,029	​	​	618,608
Primoris Services Corp.	​	21,912	​	​	442,403
Quanex Building Products Corp.	​	24,867	​	���	551,053
Rush Enterprises, Inc., Class A	​	10,252	​	​	511,472
Ryder System, Inc.	​	6,579	​	​	529,675
Schneider National, Inc., Class B	​	20,468	​	​	455,208
Shoals Technologies Group, Inc., Class A*	​	30,630	​	​	707,859
SP Plus Corp.*	​	16,643	​	​	616,290
SPX Technologies, Inc.*	​	10,563	​	​	695,468
Sterling Infrastructure, Inc.*	​	19,476	​	​	525,657
Terex Corp.	​	14,636	​	​	593,343
Thermon Group Holdings, Inc.*	​	32,219	​	​	572,209
Triton International Ltd.	​	7,437	​	​	451,352
TrueBlue, Inc.*	​	18,067	​	​	355,197
Tutor Perini Corp.*	​	48,327	​	​	358,586
UFP Industries, Inc.	​	6,764	​	​	481,800
Univar Solutions, Inc.*	​	16,239	​	​	413,770
VSE Corp.	​	11,325	​	​	524,234
Wabash National Corp.	​	35,171	​	​	761,452
Watts Water Technologies, Inc., Class A	​	3,739	​	​	547,240
Werner Enterprises, Inc.	​	12,730	​	​	499,016
Total Industrials	​	​	​	​	43,554,507
Information Technology — 10.7%
A10 Networks, Inc.	​	37,415	​	​	628,572
ACI Worldwide, Inc.*	​	16,575	​	​	403,270

​	Shares		Value
Common Stocks (continued)
Information Technology (continued)
ACM Research, Inc., Class A*	​	25,227	​	$	161,453
Adeia, Inc.	​	30,135	​	​	336,909
Advanced Energy Industries, Inc.	​	6,064	​	​	476,934
Alarm.com Holdings, Inc.*	​	7,854	​	​	462,129
Appfolio, Inc., Class A*	​	4,611	​	​	578,081
Avaya Holdings Corp.*(a)	​	41,194	​	​	65,086
Avnet, Inc.	​	12,859	​	​	516,803
Belden, Inc.	​	9,422	​	​	656,054
Benchmark Electronics, Inc.	​	20,844	​	​	591,761
Box, Inc., Class A*	​	17,961	​	​	521,767
BTRS Holdings, Inc., Class 1*	​	69,779	​	​	658,714
Cambium Networks Corp.*	​	22,078	​	​	427,209
Cass Information Systems, Inc.	​	14,141	​	​	604,952
ChannelAdvisor Corp.*	​	31,499	​	​	725,737
Cirrus Logic, Inc.*	​	6,155	​	​	413,124
CSG Systems International, Inc.	​	8,210	​	​	530,941
Diodes, Inc.*	​	6,000	​	​	430,020
Domo, Inc., Class B*	​	10,321	​	​	182,372
DZS, Inc.*	​	37,631	​	​	597,957
Envestnet, Inc.*	​	7,011	​	​	345,712
ePlus, Inc.*	​	9,311	​	​	453,632
ExlService Holdings, Inc.*	​	3,643	​	​	662,480
FormFactor, Inc.*	​	12,418	​	​	250,968
Grid Dynamics Holdings, Inc.*	​	37,069	​	​	504,509
Hackett Group, Inc. (The)	​	22,634	​	​	494,327
Insight Enterprises, Inc.*	​	4,863	​	​	459,602
InterDigital, Inc.	​	8,181	​	​	407,986
International Money Express, Inc.*	​	25,325	​	​	684,535
Itron, Inc.*	​	9,908	​	​	484,402
Knowles Corp.*	​	24,242	​	​	333,327
LiveRamp Holdings, Inc.*	​	13,960	​	​	256,306
NETGEAR, Inc.*	​	21,148	​	​	415,558
NetScout Systems, Inc.*	​	16,270	​	​	584,418
Onto Innovation, Inc.*	​	6,007	​	​	401,508
PC Connection, Inc.	​	9,962	​	​	529,381
Photronics, Inc.*	​	30,757	​	​	498,879
Plexus Corp.*	​	6,380	​	​	627,792
Progress Software Corp.	​	11,084	​	​	565,617
Rackspace Technology, Inc.*(a)	​	46,769	​	​	240,860
Rambus, Inc.*	​	16,367	​	​	493,629
Ribbon Communications, Inc.*	​	168,912	​	​	447,617
Sanmina Corp.*	​	12,913	​	​	723,774
ScanSource, Inc.*	​	15,003	​	​	464,793
Semtech Corp.*	​	7,528	​	​	208,450
SMART Global Holdings, Inc.*	​	20,207	​	​	273,401
Super Micro Computer, Inc.*	​	13,710	​	​	954,079
TTM Technologies, Inc.*	​	35,219	​	​	539,203
Unisys Corp.*	​	24,153	​	​	205,300
Upland Software, Inc.*	​	29,639	​	​	238,298
Veeco Instruments, Inc.*(a)	​	19,196	​	​	349,943
Viasat, Inc.*	​	10,695	​	​	438,067
Vishay Intertechnology, Inc.	​	26,630	​	​	556,833
Xerox Holdings Corp.	​	25,877	​	​	378,580
Xperi, Inc.*	​	12,054	​	​	168,394
Total Information Technology	​	​	​	​	25,612,005

See notes to financial statements.

75​

Schedule of Investments — IQ Chaikin U.S. Small Cap ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Materials — 4.2%
Avient Corp.	​	10,874	​	$	375,044
Cabot Corp.	​	7,629	​	​	560,579
Chase Corp.	​	6,005	​	​	565,731
Commercial Metals Co.	​	12,541	​	​	570,615
Gatos Silver, Inc.*	​	120,820	​	​	398,706
Greif, Inc., Class A	​	8,022	​	​	531,137
Hawkins, Inc.	​	11,371	​	​	512,036
Ingevity Corp.*	​	8,147	​	​	548,049
Innospec, Inc.	​	5,640	​	​	563,944
Kronos Worldwide, Inc.	​	33,631	​	​	319,495
Materion Corp.	​	6,088	​	​	521,802
Mativ Holdings, Inc.	​	18,979	​	​	450,561
Minerals Technologies, Inc.	​	7,890	​	​	434,029
Myers Industries, Inc.	​	24,164	​	​	490,288
Orion Engineered Carbons SA	​	32,682	​	​	521,605
Silgan Holdings, Inc.	​	11,290	​	​	534,694
Stepan Co.	​	5,282	​	​	551,652
Summit Materials, Inc., Class A*	​	16,804	​	​	442,785
SunCoke Energy, Inc.	​	58,579	​	​	425,284
Trinseo PLC	​	10,892	​	​	204,987
Worthington Industries, Inc.	​	10,153	​	​	482,877
Total Materials	​	​	​	​	10,005,900
Real Estate — 4.6%
Alexander & Baldwin, Inc.	​	22,507	​	​	438,436
Chatham Lodging Trust*	​	37,850	​	​	490,914
Corporate Office Properties Trust	​	18,288	​	​	487,375
DiamondRock Hospitality Co.	​	51,677	​	​	482,663
Diversified Healthcare Trust	​	163,107	​	​	221,826
EPR Properties	​	9,540	​	​	368,244
Essential Properties Realty Trust, Inc.	​	20,630	​	​	443,958
Forestar Group, Inc.*	​	29,389	​	​	340,325
Franklin Street Properties Corp.	​	88,465	​	​	254,779
Hudson Pacific Properties, Inc.	​	18,809	​	​	207,651
Independence Realty Trust, Inc.	​	19,740	​	​	330,842
iStar, Inc.	​	22,296	​	​	233,662
JBG SMITH Properties	​	17,862	​	​	351,524
Marcus & Millichap, Inc.	​	9,908	​	​	365,011
Necessity Retail REIT, Inc. (The)	​	65,985	​	​	451,337
Office Properties Income Trust	​	20,285	​	​	310,360
Outfront Media, Inc.	​	18,359	​	​	331,380
Paramount Group, Inc.	​	47,840	​	​	309,525
Piedmont Office Realty Trust, Inc., Class A	​	30,310	​	​	316,740
PotlatchDeltic Corp.	​	9,898	​	​	440,362
Rafael Holdings, Inc., Class B*	​	207,944	​	​	368,061
Retail Opportunity Investments Corp.	​	26,918	​	​	389,773
RLJ Lodging Trust	​	37,069	​	​	451,130
Service Properties Trust	​	59,110	​	​	479,382
St Joe Co. (The)	​	8,810	​	​	313,019
Sunstone Hotel Investors, Inc.	​	44,307	​	​	494,023
Uniti Group, Inc.	​	37,932	​	​	294,352

​	Shares		Value
Common Stocks (continued)
Real Estate (continued)
Urstadt Biddle Properties, Inc., Class A	​	27,748	​	$	519,998
Xenia Hotels & Resorts, Inc.	​	27,058	​	​	462,151
Total Real Estate	​	​	​	​	10,948,803
Utilities — 3.2%
ALLETE, Inc.	​	7,792	​	​	438,456
Avista Corp.	​	11,560	​	​	474,307
Black Hills Corp.	​	6,776	​	​	442,947
California Water Service Group	​	8,804	​	​	546,376
Hawaiian Electric Industries, Inc.	​	12,336	​	​	469,262
Montauk Renewables, Inc.*	​	46,602	​	​	697,632
Northwest Natural Holding Co.	​	10,091	​	​	485,276
NorthWestern Corp.	​	8,628	​	​	455,817
ONE Gas, Inc.	​	5,915	​	​	458,294
Otter Tail Corp.	​	8,351	​	​	563,024
Portland General Electric Co.	​	9,464	​	​	425,312
SJW Group	​	7,501	​	​	530,171
Southwest Gas Holdings, Inc.	​	6,667	​	​	487,158
Spire, Inc.	​	7,274	​	​	507,798
Unitil Corp.	​	10,464	​	​	551,557
Total Utilities	​	​	​	​	7,533,387
Total Common Stocks (Cost $246,108,063)	​	​	​	​	237,907,056
Short-Term Investments — 0.5%
Money Market Funds — 0.5%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.91%(b)(c)	​	858,535	​	​	858,535
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 3.09%(b)	​	306,851	​	​	306,851
Total Short-Term Investments (Cost $1,165,386)	​	​	​	​	1,165,386
Total Investments — 100.4% (Cost $247,273,449)	​	​	​	​	239,072,442
Other Assets and Liabilities, Net — (0.4)%	​	​	​	​	(851,013)
Net Assets — 100.0%	​	​	​	$	238,221,429

*

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 $6,377,907; total market value of collateral held by the Fund was $6,589,793. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of  $5,731,258.

(b)

Reflects the 1-day yield at October 31, 2022.

(c)

Represents security purchased with cash collateral received for securities on loan.

See notes to financial statements.

76

Schedule of Investments — IQ Chaikin U.S. Small Cap ETF (continued)

October 31, 2022 (unaudited)

The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2022. 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

​

$

237,907,056

​

$

—

​

$

—

​

$

237,907,056

Short-Term Investments:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Funds

​

​

1,165,386

​

​

—

​

​

—

​

​

1,165,386

Total Investments in Securities

​

$

239,072,442

​

$

—

​

$

—

​

$

239,072,442

(d)

For a complete listing of investments and their industries, see the Schedule of Investments.

For the period ended October 31, 2022, 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.

77​

Schedule of Investments — IQ 500 International ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks — 98.3%
Australia — 4.0%
Ampol Ltd.	​	9,807	​	$	170,762
Australia & New Zealand Banking Group Ltd.	​	8,911	​	​	145,645
BHP Group Ltd.	​	37,651	​	​	899,479
BlueScope Steel Ltd.	​	13,425	​	​	135,036
Coles Group Ltd.	​	30,067	​	​	313,967
Commonwealth Bank of Australia	​	2,495	​	​	167,010
Downer EDI Ltd.	​	51,377	​	​	147,511
Flutter Entertainment PLC*	​	2,353	​	​	313,715
Fortescue Metals Group Ltd.	​	25,142	​	​	236,333
Glencore PLC	​	271,535	​	​	1,561,588
Metcash Ltd.	​	59,325	​	​	155,535
Ramsay Health Care Ltd.	​	6,639	​	​	248,648
Rio Tinto PLC	​	17,300	​	​	903,691
Sonic Healthcare Ltd.	​	11,218	​	​	235,071
Telstra Group Ltd.*	​	89,306	​	​	223,859
Viva Energy Group Ltd.	​	126,980	​	​	229,789
Wesfarmers Ltd.	​	10,116	​	​	294,067
Westpac Banking Corp.	​	10,343	​	​	159,460
Woodside Energy Group Ltd.	​	6,804	​	​	156,543
Woolworths Group Ltd.	​	19,788	​	​	417,818
Worley Ltd.	​	19,106	​	​	174,342
Total Australia	​	​	​	​	7,289,869
Austria — 0.5%
Mondi PLC	​	10,040	​	​	169,058
OMV AG	​	12,621	​	​	581,784
voestalpine AG	​	8,577	​	​	186,326
Total Austria	​	​	​	​	937,168
Belgium — 0.9%
Anheuser-Busch InBev SA	​	18,069	​	​	903,637
Etablissements Franz Colruyt NV	​	4,514	​	​	108,814
Solvay SA	​	2,665	​	​	240,321
UCB SA	​	1,398	​	​	105,452
Umicore SA	​	9,693	​	​	319,495
Total Belgium	​	​	​	​	1,677,719
Canada — 6.6%
Alimentation Couche-Tard, Inc.	​	20,513	​	​	917,337
Bank of Montreal(a)	​	1,836	​	​	168,908
Bank of Nova Scotia (The)(a)	​	3,333	​	​	160,902
Barrick Gold Corp.	​	9,068	​	​	136,214
BCE, Inc.(a)	​	6,581	​	​	296,472
Brookfield Asset Management, Inc., Class A	​	9,016	​	​	356,595
Canadian Imperial Bank of Commerce	​	2,776	​	​	125,913
Canadian National Railway Co.	​	1,990	​	​	235,465
Canadian Natural Resources Ltd.	​	5,460	​	​	327,068
Canadian Pacific Railway Ltd.	​	2,057	​	​	153,153
Canadian Tire Corp., Ltd., Class A(a)	​	1,395	​	​	156,154
Cenovus Energy, Inc.(a)	​	28,446	​	​	574,321
CGI, Inc.*	​	3,259	​	​	262,192
Empire Co., Ltd., Class A	​	9,325	​	​	239,269
Enbridge, Inc.	​	21,158	​	​	823,332
George Weston Ltd.	​	5,401	​	​	593,732
Great-West Lifeco, Inc.	​	13,439	​	​	310,741
Imperial Oil Ltd.	​	7,717	​	​	419,271

​	Shares		Value
Common Stocks (continued)
Canada (continued)
Loblaw Cos. Ltd.	​	7,119	​	$	582,547
Magna International, Inc.	​	7,545	​	​	419,938
Manulife Financial Corp.	​	15,931	​	​	263,716
Metro, Inc.	​	4,045	​	​	211,643
Nutrien Ltd.	​	5,063	​	​	427,258
Parkland Corp.	​	10,415	​	​	210,278
Pembina Pipeline Corp.	​	5,158	​	​	170,087
Power Corp. of Canada	​	12,820	​	​	317,951
Restaurant Brands International, Inc.	​	3,779	​	​	224,266
Rogers Communications, Inc., Class B	​	4,310	​	​	179,187
Royal Bank of Canada	​	3,092	​	​	285,727
Saputo, Inc.	​	8,450	​	​	205,419
Sun Life Financial, Inc.	​	4,158	​	​	176,373
Suncor Energy, Inc.	​	12,176	​	​	418,289
TC Energy Corp.	​	4,601	​	​	201,843
Teck Resources Ltd., Class B	​	4,905	​	​	149,122
TELUS Corp.	​	9,842	​	​	205,275
TFI International, Inc.	​	1,762	​	​	160,189
Thomson Reuters Corp.	​	1,808	​	​	192,047
Toronto-Dominion Bank (The)	​	3,692	​	​	235,992
West Fraser Timber Co., Ltd.	​	2,219	​	​	166,403
WSP Global, Inc.	​	1,619	​	​	198,736
Total Canada	​	​	​	​	11,859,325
Denmark — 1.1%
Carlsberg A/S, Class B	​	1,688	​	​	198,995
Danske Bank A/S	​	11,945	​	​	192,831
DSV A/S	​	3,249	​	​	439,955
ISS A/S*	​	15,719	​	​	288,606
Novo Nordisk A/S, Class B	​	4,428	​	​	481,507
Orsted A/S	​	1,478	​	​	121,928
Vestas Wind Systems A/S	​	8,879	​	​	174,927
Total Denmark	​	​	​	​	1,898,749
Finland — 1.5%
Fortum OYJ	​	82,684	​	​	1,164,109
Kesko OYJ, Class B	​	7,552	​	​	147,041
Kone OYJ, Class B	​	3,802	​	​	155,757
Neste OYJ	​	6,529	​	​	286,122
Nokia OYJ	​	91,245	​	​	406,449
Outokumpu OYJ	​	31,258	​	​	125,521
Stora Enso OYJ, Class R	​	11,928	​	​	155,497
UPM-Kymmene OYJ	​	6,968	​	​	233,532
Total Finland	​	​	​	​	2,674,028
France — 13.1%
Air France-KLM*	​	293,367	​	​	386,066
Air Liquide SA	​	3,689	​	​	482,368
Airbus SE	​	8,791	​	​	952,093
Alstom SA	​	9,233	​	​	190,356
Arkema SA	​	1,826	​	​	144,594
Atos SE*(a)	​	10,641	​	​	103,908
AXA SA	​	29,998	​	​	741,211
BNP Paribas SA	​	14,909	​	​	699,852
Bollore SE	​	175,557	​	​	878,835
Bouygues SA	​	24,143	​	​	689,125
Bureau Veritas SA	​	6,020	​	​	149,163
Capgemini SE	​	2,260	​	​	371,347

See notes to financial statements.

78

Schedule of Investments — IQ 500 International ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
France (continued)
Carrefour SA	​	47,445	​	$	763,638
Casino Guichard Perrachon SA*(a)	​	28,640	​	​	275,703
Cie de Saint-Gobain	​	12,396	​	​	507,214
Cie Generale des Etablissements Michelin SCA	​	9,256	​	​	236,114
Credit Agricole SA	​	42,716	​	​	387,817
Danone SA	​	8,545	​	​	425,143
Dassault Systemes SE	​	3,621	​	​	121,500
Eiffage SA	​	4,829	​	​	436,896
Electricite de France SA	​	119,486	​	​	1,411,219
Engie SA	​	59,737	​	​	776,624
EssilorLuxottica SA	​	2,291	​	​	363,081
Faurecia SE*	​	13,052	​	​	195,047
Kering SA	​	518	​	​	237,398
Korian SA	​	9,442	​	​	89,214
Legrand SA	​	2,073	​	​	158,048
L’Oreal SA	​	1,873	​	​	588,859
LVMH Moet Hennessy Louis Vuitton SE	​	2,477	​	​	1,564,359
Orange SA	​	63,807	​	​	607,364
Orpea*(a)	​	5,410	​	​	43,909
Pernod Ricard SA	​	1,052	​	​	184,762
Publicis Groupe SA	​	5,255	​	​	294,694
Renault SA*	​	20,941	​	​	645,125
Rexel SA*	​	14,749	​	​	263,919
Safran SA	​	3,029	​	​	337,450
Sanofi	​	8,583	​	​	740,819
Societe Generale SA	​	9,796	​	​	224,861
Sodexo SA	​	5,387	​	​	477,796
SPIE SA	​	8,884	​	​	207,922
Technip Energies NV	​	16,437	​	​	212,247
Teleperformance	​	600	​	​	160,883
Thales SA	​	2,956	​	​	375,858
TotalEnergies SE	​	44,019	​	​	2,397,184
Valeo	​	15,904	​	​	262,345
Veolia Environnement SA	​	14,342	​	​	320,210
Vinci SA	​	14,697	​	​	1,353,509
Vivendi SE	​	25,289	​	​	207,053
Total France	​	​	​	​	23,644,702
Germany — 10.7%
adidas AG	​	1,662	​	​	162,588
Allianz SE	​	3,951	​	​	711,484
Aurubis AG	​	2,454	​	​	155,032
BASF SE	​	29,340	​	​	1,317,529
Bayer AG	​	12,662	​	​	666,019
Bayerische Motoren Werke AG	​	15,925	​	​	1,251,600
Bechtle AG	​	3,202	​	​	110,764
Beiersdorf AG	​	1,700	​	​	163,281
Brenntag SE	​	3,680	​	​	223,465
Continental AG	​	7,120	​	​	369,303
Covestro AG	​	6,818	​	​	232,076
Deutsche Bank AG	​	20,493	​	​	195,656
Deutsche Lufthansa AG*	​	47,501	​	​	325,956
Deutsche Post AG	​	61,481	​	​	2,182,056
Deutsche Telekom AG	​	102,928	​	​	1,949,527
E.ON SE	​	94,967	​	​	795,561
Evonik Industries AG	​	11,610	​	​	214,061

​	Shares		Value
Common Stocks (continued)
Germany (continued)
Fresenius Medical Care AG & Co. KGaA	​	8,924	​	$	246,784
Fresenius SE & Co. KGaA	​	19,697	​	​	453,592
Hannover Rueck SE	​	1,455	​	​	236,990
HeidelbergCement AG	​	6,197	​	​	285,721
HOCHTIEF AG	​	6,938	​	​	368,915
Infineon Technologies AG	​	8,400	​	​	204,564
KION Group AG	​	2,846	​	​	63,204
Kloeckner & Co SE	​	11,108	​	​	87,115
LANXESS AG	​	4,072	​	​	137,841
Mercedes-Benz Group AG	​	21,708	​	​	1,257,266
Merck KGaA	​	2,272	​	​	370,512
Muenchener Rueckversicherungs- Gesellschaft AG	​	2,012	​	​	531,740
ProSiebenSat.1 Media SE	​	15,436	​	​	104,962
Rheinmetall AG	​	738	​	​	119,986
RWE AG	​	9,079	​	​	349,865
Salzgitter AG	​	3,700	​	​	82,792
SAP SE	​	7,884	​	​	761,057
Siemens AG	​	7,596	​	​	830,628
Siemens Energy AG(a)	​	17,878	​	​	208,767
Siemens Healthineers AG	​	12,571	​	​	578,734
Telefonica Deutschland Holding AG	​	67,173	​	​	146,457
thyssenkrupp AG*	​	67,432	​	​	355,358
TUI AG*(a)	​	81,033	​	​	122,965
Uniper SE(a)	​	59,450	​	​	178,152
United Internet AG	​	5,762	​	​	107,775
Zalando SE*	​	3,639	​	​	83,909
Total Germany	​	​	​	​	19,301,609
Hong Kong — 0.7%
AIA Group Ltd.	​	32,680	​	​	247,499
CLP Holdings Ltd.	​	18,335	​	​	123,092
Nine Dragons Paper Holdings Ltd.	​	238,744	​	​	141,424
Orient Overseas International Ltd.	​	9,700	​	​	141,734
Prudential PLC	​	14,800	​	​	138,160
Skyworth Group Ltd.	​	308,709	​	​	113,261
Techtronic Industries Co., Ltd.	​	10,700	​	​	101,345
WH Group Ltd.	​	680,493	​	​	344,154
Total Hong Kong	​	​	​	​	1,350,669
Ireland — 0.4%
CRH PLC	​	12,007	​	​	432,559
Kerry Group PLC, Class A	​	1,522	​	​	132,375
Smurfit Kappa Group PLC	​	5,444	​	​	180,140
Total Ireland	​	​	​	​	745,074
Israel — 0.2%
ICL Group Ltd.	​	13,558	​	​	122,964
Teva Pharmaceutical Industries Ltd.*	​	34,730	​	​	312,022
Total Israel	​	​	​	​	434,986
Italy — 2.8%
A2A SpA	​	99,104	​	​	109,899
Assicurazioni Generali SpA	​	30,827	​	​	462,806
Atlantia SpA	​	10,068	​	​	224,686
Enel SpA	​	192,920	​	​	861,647

See notes to financial statements.

79​

Schedule of Investments — IQ 500 International ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Italy (continued)
Eni SpA	​	63,624	​	$	833,446
Hera SpA	​	46,410	​	​	110,636
Intesa Sanpaolo SpA	​	157,577	​	​	300,424
Leonardo SpA	​	29,964	​	​	240,828
Poste Italiane SpA	​	76,776	​	​	669,274
Prysmian SpA	​	6,394	​	​	208,480
Saipem SpA*(a)	​	343,523	​	​	334,088
Telecom Italia SpA*	​	899,042	​	​	176,025
UniCredit SpA	​	20,860	​	​	258,701
UnipolSai Assicurazioni SpA	​	55,145	​	​	124,374
Webuild SpA(a)	​	91,058	​	​	123,926
Total Italy	​	​	​	​	5,039,240
Japan — 30.7%
Aeon Co., Ltd.	​	42,049	​	​	785,475
AGC, Inc.	​	7,078	​	​	222,147
Air Water, Inc.	​	11,513	​	​	128,813
Aisin Corp.	​	12,858	​	​	330,025
Ajinomoto Co., Inc.	​	6,328	​	​	174,383
Alfresa Holdings Corp.	​	25,477	​	​	293,276
ANA Holdings, Inc.*(a)	​	9,623	​	​	187,171
Asahi Group Holdings Ltd.	​	8,816	​	​	246,980
Asahi Kasei Corp.	​	42,939	​	​	275,744
Astellas Pharma, Inc.	​	15,246	​	​	209,917
Benesse Holdings, Inc.	​	8,799	​	​	129,882
Bridgestone Corp.	​	8,789	​	​	317,063
Brother Industries Ltd.	​	8,580	​	​	146,103
Canon, Inc.	​	22,772	​	​	483,217
Central Japan Railway Co.	​	1,455	​	​	169,008
Chubu Electric Power Co., Inc.	​	31,310	​	​	255,097
Chugai Pharmaceutical Co., Ltd.	​	6,051	​	​	140,451
Chugoku Electric Power Co., Inc. (The)	​	22,629	​	​	106,267
Cosmo Energy Holdings Co., Ltd.	​	13,348	​	​	343,500
CyberAgent, Inc.	​	14,691	​	​	120,979
Dai Nippon Printing Co., Ltd.	​	11,575	​	​	232,302
Dai-ichi Life Holdings, Inc.	​	20,298	​	​	321,947
Daiichi Sankyo Co., Ltd.	​	8,858	​	​	284,092
Daikin Industries Ltd.	​	1,997	​	​	300,756
Denso Corp.	​	9,538	​	​	474,221
Dentsu Group, Inc.	​	6,205	​	​	193,495
DIC Corp.	​	7,758	​	​	130,383
East Japan Railway Co.	​	5,766	​	​	311,896
ENEOS Holdings, Inc.	​	283,919	​	​	935,604
Fast Retailing Co., Ltd.	​	596	​	​	332,775
FUJIFILM Holdings Corp.	​	4,019	​	​	184,382
Fujitsu Ltd.	​	4,765	​	​	549,000
Hakuhodo DY Holdings, Inc.	​	17,279	​	​	146,012
Hankyu Hanshin Holdings, Inc.	​	5,377	​	​	159,716
Hino Motors Ltd.*	​	32,674	​	​	135,853
Hitachi Ltd.	​	24,438	​	​	1,111,453
Hitachi Transport System Ltd.	​	3,078	​	​	184,098
Honda Motor Co., Ltd.	​	39,873	​	​	904,845
Idemitsu Kosan Co., Ltd.	​	24,162	​	​	528,318
IHI Corp.	​	7,015	​	​	156,691
Inpex Corp.	​	15,590	​	​	159,220
Isuzu Motors Ltd.	​	18,206	​	​	213,619
ITOCHU Corp.	​	48,797	​	​	1,263,630
Japan Post Bank Co., Ltd.	​	19,516	​	​	129,989

​	Shares		Value
Common Stocks (continued)
Japan (continued)
Japan Post Holdings Co., Ltd.	​	242,368	​	$	1,629,973
Japan Post Insurance Co., Ltd.	​	13,705	​	​	202,576
Japan Tobacco, Inc.	​	21,038	​	​	348,758
JFE Holdings, Inc.	​	35,558	​	​	326,071
JTEKT Corp.	​	22,932	​	​	161,998
Kajima Corp.	​	31,032	​	​	292,501
Kansai Electric Power Co., Inc. (The)	​	36,009	​	​	273,032
Kao Corp.	​	5,470	​	​	205,721
Kawasaki Heavy Industries Ltd.	​	14,224	​	​	241,732
Kawasaki Kisen Kaisha Ltd.	​	7,698	​	​	117,100
KDDI Corp.	​	27,081	​	​	800,760
Keyence Corp.	​	359	​	​	136,030
Kintetsu Group Holdings Co., Ltd.	​	5,517	​	​	186,702
Kirin Holdings Co., Ltd.	​	17,642	​	​	259,879
Kobe Steel Ltd.	​	54,050	​	​	221,822
Komatsu Ltd.	​	14,084	​	​	269,864
Konica Minolta, Inc.	​	41,443	​	​	126,307
Kubota Corp.	​	15,005	​	​	209,627
Kyocera Corp.	​	5,307	​	​	265,680
Kyushu Electric Power Co., Inc.	​	32,351	​	​	160,411
Lixil Corp.	​	9,613	​	​	145,584
Marubeni Corp.	​	85,382	​	​	748,496
Mazda Motor Corp.	​	38,835	​	​	262,061
Medipal Holdings Corp.	​	26,772	​	​	332,320
MEIJI Holdings Co., Ltd.	​	3,222	​	​	132,665
MINEBEA MITSUMI, Inc.	​	7,327	​	​	108,647
Mitsubishi Chemical Group Corp.	​	82,794	​	​	374,379
Mitsubishi Corp.	​	43,534	​	​	1,180,648
Mitsubishi Electric Corp.	​	57,068	​	​	502,971
Mitsubishi Heavy Industries Ltd.	​	12,746	​	​	439,059
Mitsubishi Materials Corp.	​	11,153	​	​	146,020
Mitsubishi Motors Corp.*	​	74,083	​	​	249,211
Mitsubishi UFJ Financial Group, Inc.	​	54,401	​	​	256,020
Mitsui & Co., Ltd.	​	56,031	​	​	1,241,364
Mitsui Chemicals, Inc.	​	9,868	​	​	182,907
Mitsui OSK Lines Ltd.	​	8,312	​	​	165,026
Mizuho Financial Group, Inc.	​	16,473	​	​	177,991
MS&AD Insurance Group Holdings, Inc.	​	8,687	​	​	230,332
Murata Manufacturing Co., Ltd.	​	4,992	​	​	245,175
NEC Corp.	​	13,777	​	​	456,499
NH Foods Ltd.	​	5,409	​	​	129,007
Nidec Corp.	​	2,953	​	​	163,668
Nintendo Co., Ltd.	​	3,640	​	​	148,651
Nippon Paint Holdings Co., Ltd.	​	21,956	​	​	140,332
Nippon Paper Industries Co., Ltd.	​	21,208	​	​	123,565
Nippon Sanso Holdings Corp.	​	9,229	​	​	147,282
Nippon Steel Corp.	​	41,800	​	​	574,404
Nippon Telegraph & Telephone Corp.	​	66,455	​	​	1,830,435
Nippon Yusen K.K.	​	13,654	​	​	247,937
Nissan Motor Co., Ltd.	​	162,080	​	​	517,313
Nitto Denko Corp.	​	2,451	​	​	129,117
Nomura Research Institute Ltd.	​	4,849	​	​	107,821
NTT Data Corp.	​	25,543	​	​	370,682
Obayashi Corp.	​	47,357	​	​	304,275
Oji Holdings Corp.	​	49,949	​	​	173,403
Olympus Corp.	​	9,077	​	​	191,757
Omron Corp.	​	2,380	​	​	111,382

See notes to financial statements.

80

Schedule of Investments — IQ 500 International ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Japan (continued)
ORIX Corp.	​	9,749	​	$	143,315
Osaka Gas Co., Ltd.	​	11,338	​	​	167,970
Otsuka Corp.	​	5,852	​	​	184,850
Otsuka Holdings Co., Ltd.	​	7,468	​	​	239,462
Outsourcing, Inc.	​	15,193	​	​	119,083
Pan Pacific International Holdings Corp.	​	14,948	​	​	245,488
Panasonic Holdings Corp.	​	65,441	​	​	468,678
Persol Holdings Co., Ltd.	​	10,892	​	​	218,815
Rakuten Group, Inc.	​	51,130	​	​	229,102
Recruit Holdings Co., Ltd.	​	12,774	​	​	394,474
Renesas Electronics Corp.*	​	18,215	​	​	152,757
Ricoh Co., Ltd.	​	33,430	​	​	245,156
Secom Co., Ltd.	​	3,457	​	​	197,486
Seiko Epson Corp.	​	13,938	​	​	189,985
Sekisui Chemical Co., Ltd.	​	13,509	​	​	169,050
Sekisui House Ltd.	​	9,573	​	​	159,405
Seven & i Holdings Co., Ltd.	​	23,268	​	​	869,448
SG Holdings Co., Ltd.	​	15,302	​	​	203,018
Sharp Corp.(a)	​	25,198	​	​	151,051
Shimizu Corp.	​	46,815	​	​	234,020
Shin-Etsu Chemical Co., Ltd.	​	2,164	​	​	226,249
Ship Healthcare Holdings, Inc.	​	11,367	​	​	218,033
Shiseido Co., Ltd.	​	3,372	​	​	116,949
Showa Denko K.K.	​	11,828	​	​	172,842
SoftBank Corp.	​	72,527	​	​	715,096
SoftBank Group Corp.	​	64,198	​	​	2,764,270
Sojitz Corp.	​	17,933	​	​	264,709
Sompo Holdings, Inc.	​	5,766	​	​	240,245
Sony Group Corp.	​	10,054	​	​	675,610
Subaru Corp.	​	16,935	​	​	263,821
Sumitomo Chemical Co., Ltd.	​	88,241	​	​	297,432
Sumitomo Corp.	​	40,155	​	​	512,085
Sumitomo Electric Industries Ltd.	​	31,262	​	​	326,849
Sumitomo Forestry Co., Ltd.	​	13,295	​	​	208,412
Sumitomo Metal Mining Co., Ltd.	​	3,561	​	​	100,192
Sumitomo Mitsui Financial Group, Inc.	​	8,068	​	​	226,513
Suntory Beverage & Food Ltd.	​	5,241	​	​	175,599
Suzuken Co., Ltd.	​	10,995	​	​	244,851
Suzuki Motor Corp.	​	10,090	​	​	340,780
T&D Holdings, Inc.	​	12,554	​	​	123,906
Taisei Corp.	​	10,232	​	​	279,145
Takeda Pharmaceutical Co., Ltd.	​	18,464	​	​	486,709
TDK Corp.	​	8,469	​	​	265,235
Teijin Ltd.	​	15,011	​	​	136,340
Tohoku Electric Power Co., Inc.	​	44,319	​	​	186,358
Tokio Marine Holdings, Inc.	​	17,644	​	​	319,440
Tokyo Electric Power Co., Holdings, Inc.*	​	188,976	​	​	616,634
Tokyo Electron Ltd.	​	714	​	​	189,699
Tokyo Gas Co., Ltd.	​	13,010	​	​	232,567
Tokyu Corp.	​	14,195	​	​	163,882
TOPPAN, Inc.	​	16,983	​	​	253,542
Toray Industries, Inc.	​	62,782	​	​	306,022
Toshiba Corp.	​	8,078	​	​	281,576
Tosoh Corp.	​	11,444	​	​	124,653
Toyota Boshoku Corp.	​	11,103	​	​	141,481

​	Shares		Value
Common Stocks (continued)
Japan (continued)
Toyota Industries Corp.	​	3,666	​	$	188,930
Toyota Motor Corp.	​	133,883	​	​	1,855,095
Toyota Tsusho Corp.	​	25,400	​	​	854,442
Welcia Holdings Co., Ltd.	​	6,261	​	​	131,004
West Japan Railway Co.	​	4,736	​	​	188,025
Yamada Holdings Co., Ltd.	​	67,602	​	​	217,858
Yamaha Motor Co., Ltd.	​	8,714	​	​	179,984
Yamato Holdings Co., Ltd.	​	16,930	​	​	251,043
Yamazaki Baking Co., Ltd.	​	13,914	​	​	141,822
Z Holdings Corp.	​	75,305	​	​	194,855
Zensho Holdings Co., Ltd.	​	9,076	​	​	226,541
Total Japan	​	​	​	​	55,444,683
Luxembourg — 0.6%
ArcelorMittal SA	​	36,524	​	​	817,809
Eurofins Scientific SE	​	3,142	​	​	201,167
Total Luxembourg	​	​	​	​	1,018,976
Netherlands — 3.3%
Aegon NV	​	40,033	​	​	185,369
Akzo Nobel NV	​	2,679	​	​	165,328
ASML Holding NV	​	706	​	​	333,536
Heineken NV	​	4,454	​	​	372,418
ING Groep NV	​	18,826	​	​	185,210
JDE Peet’s NV	​	5,713	​	​	163,633
Koninklijke Ahold Delhaize NV	​	38,212	​	​	1,066,910
Koninklijke DSM NV	​	1,276	​	​	150,453
Koninklijke Philips NV	​	11,786	​	​	149,312
NN Group NV	​	3,940	​	​	166,862
Randstad NV	​	8,958	​	​	446,576
Shell PLC	​	82,697	​	​	2,288,914
Universal Music Group NV	​	10,326	​	​	202,603
Wolters Kluwer NV	​	1,659	​	​	176,346
Total Netherlands	​	​	​	​	6,053,470
Norway — 1.0%
Equinor ASA	​	40,706	​	​	1,489,155
Norsk Hydro ASA	​	25,370	​	​	161,002
Telenor ASA	​	17,356	​	​	157,754
Total Norway	​	​	​	​	1,807,911
Portugal — 0.4%
EDP — Energias de Portugal SA	​	55,734	​	​	243,749
Galp Energia SGPS SA	​	20,900	​	​	212,245
Jeronimo Martins SGPS SA	​	15,003	​	​	311,095
Total Portugal	​	​	​	​	767,089
Singapore — 0.5%
Jardine Cycle & Carriage Ltd.	​	15,218	​	​	319,824
Oversea-Chinese Banking Corp., Ltd.	​	23,300	​	​	199,724
Singapore Telecommunications Ltd.	​	112,944	​	​	199,534
STMicroelectronics NV	​	6,174	​	​	192,825
Total Singapore	​	​	​	​	911,907
Spain — 3.1%
ACS Actividades de Construccion y Servicios SA	​	24,794	​	​	635,907
Banco Bilbao Vizcaya Argentaria SA	​	59,437	​	​	306,000

See notes to financial statements.

81​

Schedule of Investments — IQ 500 International ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Spain (continued)
Banco Santander SA(a)	​	169,633	​	$	439,595
Cia de Distribucion Integral Logista Holdings SA	​	14,688	​	​	303,983
Endesa SA	​	15,973	​	​	266,561
Ferrovial SA	​	6,969	​	​	170,197
Iberdrola SA	​	68,606	​	​	696,712
Industria de Diseno Textil SA(a)	​	24,203	​	​	548,747
Mapfre SA(a)	​	92,833	​	​	159,188
Naturgy Energy Group SA	​	13,013	​	​	333,881
Repsol SA	​	52,673	​	​	715,554
Sacyr SA	​	68,418	​	​	167,835
Siemens Gamesa Renewable Energy SA*	​	9,862	​	​	175,058
Telefonica SA	​	181,956	​	​	626,728
Total Spain	​	​	​	​	5,545,946
Sweden — 1.7%
Alleima AB*	​	1,738	​	​	5,917
Assa Abloy AB, B Shares	​	6,731	​	​	135,833
Atlas Copco AB, A Shares	​	15,938	​	​	170,249
Electrolux AB, B Shares(a)	​	11,458	​	​	141,285
Essity AB, B Shares	​	10,709	​	​	226,188
H & M Hennes & Mauritz AB, B Shares(a)	​	22,595	​	​	227,372
Investor AB, B Shares	​	12,290	​	​	200,591
Sandvik AB	​	8,717	​	​	136,153
Securitas AB, B Shares(a)	​	39,829	​	​	325,611
Skanska AB, B Shares	​	15,619	​	​	242,827
SKF AB, B Shares	​	10,264	​	​	148,427
SSAB AB, A Shares	​	24,464	​	​	117,644
Telefonaktiebolaget LM Ericsson, B Shares	​	61,217	​	​	340,142
Telia Co. AB(a)	​	50,558	​	​	133,825
Volvo AB, B Shares	​	33,278	​	​	544,472
Total Sweden	​	​	​	​	3,096,536
Switzerland — 2.5%
ABB Ltd.	​	11,861	​	​	329,963
Accelleron Industries AG*	​	591	​	​	10,028
Adecco Group AG	​	10,557	​	​	330,608
Alcon, Inc.	​	2,327	​	​	141,701
Cie Financiere Richemont SA, Class A	​	1,900	​	​	185,946
Credit Suisse Group AG(a)	​	28,684	​	​	118,376
Holcim AG*	​	10,434	​	​	474,183
Kuehne + Nagel International AG	​	2,630	​	​	560,821
Novartis AG	​	13,560	​	​	1,096,182
Schindler Holding AG — Participating Certificate	​	892	​	​	145,510
Sika AG	​	662	​	​	149,368
Swiss Life Holding AG	​	305	​	​	147,784
Swisscom AG	​	402	​	​	198,560
UBS Group AG	​	14,208	​	​	225,596
Zurich Insurance Group AG	​	961	​	​	410,327
Total Switzerland	​	​	​	​	4,524,953
United Kingdom — 8.4%
Associated British Foods PLC	​	13,247	​	​	205,824
AstraZeneca PLC	​	5,066	​	​	598,086
Aviva PLC	​	41,290	​	​	198,761

​	Shares		Value
Common Stocks (continued)
United Kingdom (continued)
Babcock International Group PLC*	​	34,901	​	$	110,745
BAE Systems PLC	​	52,154	​	​	489,024
Barclays PLC	​	112,371	​	​	191,169
BP PLC	​	289,232	​	​	1,597,761
British American Tobacco PLC	​	15,469	​	​	611,511
BT Group PLC	​	206,267	​	​	308,255
Bunzl PLC	​	6,961	​	​	227,692
Centrica PLC	​	267,209	​	​	235,721
CK Hutchison Holdings Ltd.	​	82,680	​	​	410,775
Compass Group PLC	​	30,742	​	​	650,022
Computacenter PLC	​	5,720	​	​	119,201
Currys PLC	​	175,688	​	​	131,885
DCC PLC	​	3,617	​	​	201,558
Diageo PLC	​	6,635	​	​	274,857
DS Smith PLC	​	43,118	​	​	144,066
Entain PLC	​	8,962	​	​	130,321
Experian PLC	​	4,614	​	​	147,363
Haleon PLC*	​	47,069	​	​	145,236
Hays PLC	​	124,634	​	​	157,703
HSBC Holdings PLC	​	64,079	​	​	330,004
Imperial Brands PLC	​	17,379	​	​	424,996
Inchcape PLC	​	18,603	​	​	159,353
International Distributions Services PLC	​	77,969	​	​	181,603
ITV PLC	​	176,687	​	​	136,296
J Sainsbury PLC	​	153,909	​	​	344,481
JD Sports Fashion PLC	​	88,012	​	​	98,738
John Wood Group PLC*	​	77,318	​	​	124,538
Johnson Matthey PLC(a)	​	16,348	​	​	364,115
Kingfisher PLC	​	80,504	​	​	202,894
Legal & General Group PLC	​	115,506	​	​	309,727
Lloyds Banking Group PLC	​	646,165	​	​	312,611
M&G PLC	​	68,558	​	​	138,292
Marks & Spencer Group PLC*	​	99,981	​	​	121,444
National Grid PLC	​	20,920	​	​	228,433
NatWest Group PLC	​	53,166	​	​	143,727
Pearson PLC	​	17,813	​	​	196,967
Phoenix Group Holdings PLC	​	29,777	​	​	185,954
Reckitt Benckiser Group PLC	​	4,505	​	​	299,797
RELX PLC	​	8,796	​	​	237,078
Rolls-Royce Holdings PLC*	​	195,764	​	​	176,144
SSE PLC	​	7,868	​	​	140,955
St James’s Place PLC	​	12,260	​	​	150,330
Standard Chartered PLC	​	26,117	​	​	156,422
Tesco PLC	​	287,344	​	​	711,619
Unilever PLC	​	24,605	​	​	1,125,929
Vodafone Group PLC	​	502,724	​	​	588,301
WPP PLC	​	29,724	​	​	262,145
Total United Kingdom	​	​	​	​	15,140,429
United States — 3.6%
CSL Ltd.	​	1,160	​	​	208,050
Ferguson PLC	​	3,052	​	​	334,172
GSK PLC	​	37,656	​	​	619,456
Nestle SA	​	17,290	​	​	1,883,889
Roche Holding AG	​	4,603	​	​	1,529,580
Schneider Electric SE	​	3,211	​	​	407,044
Stellantis NV*	​	85,279	​	​	1,151,337
Swiss Re AG	​	3,383	​	​	251,507

See notes to financial statements.

82

Schedule of Investments — IQ 500 International ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
United States (continued)
Waste Connections, Inc.	​	1,301	​	$	171,499
Total United States	​	​	​	​	6,556,534
Total Common Stocks (Cost $208,942,184)	​	​	​	​	177,721,572
Preferred Stocks — 1.2%
Germany — 1.2%
Henkel AG & Co. KGaA, 2.96%	​	5,989	​	​	377,527
Schaeffler AG, 9.62%(a)	​	38,357	​	​	197,322
Volkswagen AG, 5.79%	​	13,149	​	​	1,680,874
Total Germany	​	​	​	​	2,255,723
Total Preferred Stocks (Cost $3,307,754)	​	​	​	​	2,255,723
Short-Term Investment — 1.9%
Money Market Fund — 1.9%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.91%(b)(c) (Cost $3,488,171)	​	3,488,171	​	​	3,488,171

​	Shares	Value
Total Investments — 101.4%	​	​
(Cost $215,738,109)	​	​	$	183,465,466
Other Assets and Liabilities, Net — (1.4)%	​	​	​	(2,585,290)
Net Assets — 100.0%	​	​	$	180,880,176

*

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 $4,703,890; total market value of collateral held by the Fund was $5,028,522. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of  $1,540,351.

(b)

Reflects the 1-day yield at October 31, 2022.

(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, 2022. 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

​

$

177,721,572

​

$

—

​

$

—

​

$

177,721,572

Preferred Stocks

​

​

2,255,723

​

​

—

​

​

—

​

​

2,255,723

Short-Term Investment:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Fund

​

​

3,488,171

​

​

—

​

​

—

​

​

3,488,171

Total Investments in Securities

​

$

183,465,466

​

$

—

​

$

—

​

$

183,465,466

(d)

For a complete listing of investments and their countries, see the Schedule of Investments.

For the period ended October 31, 2022, 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.

83​

Schedule of Investments — IQ Candriam ESG U.S. Large Cap Equity ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks — 99.7%
Communication Services — 7.9%
Activision Blizzard, Inc.	​	11,020	​	$	802,256
Alphabet, Inc., Class A*	​	93,309	​	​	8,818,633
Alphabet, Inc., Class C*	​	83,365	​	​	7,891,331
AT&T, Inc.	​	110,828	​	​	2,020,394
Comcast Corp., Class A	​	70,011	​	​	2,222,149
Electronic Arts, Inc.	​	4,306	​	​	542,384
IAC, Inc.*	​	1,179	​	​	57,394
Live Nation Entertainment, Inc.*	​	2,432	​	​	193,611
Omnicom Group, Inc.	​	3,309	​	​	240,730
Pinterest, Inc., Class A*	​	8,866	​	​	218,104
ROBLOX Corp., Class A*	​	4,623	​	​	206,833
Roku, Inc.*	​	1,922	​	​	106,748
Snap, Inc., Class A*	​	15,818	​	​	156,756
Take-Two Interactive Software, Inc.*	​	2,470	​	​	292,646
Verizon Communications, Inc.	​	65,300	​	​	2,440,261
Walt Disney Co. (The)*	​	28,694	​	​	3,057,059
Warner Music Group Corp., Class A	​	1,898	​	​	49,386
ZoomInfo Technologies, Inc.*	​	4,296	​	​	191,301
Total Communication Services	​	​	​	​	29,507,976
Consumer Discretionary — 14.1%
Advance Auto Parts, Inc.	​	985	​	​	187,071
Amazon.com, Inc.*	​	139,759	​	​	14,316,912
Aptiv PLC*	​	4,228	​	​	385,044
AutoZone, Inc.*	​	305	​	​	772,528
Best Buy Co., Inc.	​	3,231	​	​	221,033
Booking Holdings, Inc.*	​	639	​	​	1,194,598
Burlington Stores, Inc.*	​	1,064	​	​	152,109
CarMax, Inc.*(a)	​	2,590	​	​	163,196
Chipotle Mexican Grill, Inc.*	​	418	​	​	626,302
Coupang, Inc.*	​	12,963	​	​	223,871
Dollar General Corp.	​	3,556	​	​	906,958
Dollar Tree, Inc.*	​	3,304	​	​	523,684
Domino’s Pizza, Inc.	​	575	​	​	191,038
DoorDash, Inc., Class A*	​	3,715	​	​	161,714
eBay, Inc.	​	8,776	​	​	349,636
Etsy, Inc.*	​	2,045	​	​	192,046
Ford Motor Co.	​	61,916	​	​	827,817
Genuine Parts Co.	​	2,177	​	​	387,201
Hasbro, Inc.	​	2,106	​	​	137,416
Hilton Worldwide Holdings, Inc.	​	4,296	​	​	581,077
Home Depot, Inc. (The)	​	16,179	​	​	4,791,087
LKQ Corp.	​	3,947	​	​	219,611
Lowe’s Cos., Inc.	​	10,028	​	​	1,954,959
Lululemon Athletica, Inc.*	​	1,842	​	​	606,092
Marriott International, Inc., Class A	​	4,519	​	​	723,537
McDonald’s Corp.	​	11,655	​	​	3,177,852
MercadoLibre, Inc.*	​	758	​	​	683,428
Newell Brands, Inc.	​	6,170	​	​	85,208
NIKE, Inc., Class B	​	19,749	​	​	1,830,337
NVR, Inc.*	​	49	​	​	207,650
Ross Stores, Inc.	​	5,392	​	​	515,960
Royal Caribbean Cruises Ltd.*	​	3,496	​	​	186,616
Starbucks Corp.	​	17,701	​	​	1,532,730
Target Corp.	​	7,289	​	​	1,197,218
Tesla, Inc.*	​	40,499	​	​	9,215,142
TJX Cos., Inc. (The)	​	17,230	​	​	1,242,283
Tractor Supply Co.	​	1,752	​	​	385,037

​	Shares		Value
Common Stocks (continued)
Consumer Discretionary (continued)
Ulta Beauty, Inc.*	​	797	​	$	334,238
Vail Resorts, Inc.	​	650	​	​	142,435
VF Corp.	​	5,654	​	​	159,726
Whirlpool Corp.	​	940	​	​	129,946
Yum China Holdings, Inc.	​	6,335	​	​	261,952
Yum! Brands, Inc.	​	4,477	​	​	529,405
Total Consumer Discretionary	​	​	​	​	52,613,700
Consumer Staples — 8.0%
Archer-Daniels-Midland Co.	​	8,788	​	​	852,260
Campbell Soup Co.	​	3,269	​	​	172,963
Church & Dwight Co., Inc.	​	3,808	​	​	282,287
Clorox Co. (The)	​	1,981	​	​	289,305
Coca-Cola Co. (The)	​	61,216	​	​	3,663,778
Colgate-Palmolive Co.	​	13,142	​	​	970,405
Conagra Brands, Inc.	​	7,611	​	​	279,324
Costco Wholesale Corp.	​	6,960	​	​	3,490,440
Estee Lauder Cos., Inc. (The), Class A	​	3,349	​	​	671,441
General Mills, Inc.	​	9,356	​	​	763,263
Hershey Co. (The)	​	2,278	​	​	543,918
Hormel Foods Corp.	​	4,595	​	​	213,438
J M Smucker Co. (The)	​	1,581	​	​	238,193
Kellogg Co.	​	4,028	​	​	309,431
Keurig Dr Pepper, Inc.	​	13,473	​	​	523,291
Kimberly-Clark Corp.	​	5,288	​	​	658,144
Kraft Heinz Co. (The)	​	12,220	​	​	470,103
Kroger Co. (The)	​	10,241	​	​	484,297
McCormick & Co., Inc.	​	4,011	​	​	315,425
Mondelez International, Inc., Class A	​	21,722	​	​	1,335,469
PepsiCo, Inc.	​	21,743	​	​	3,948,094
Procter & Gamble Co. (The)	​	37,786	​	​	5,088,641
Sysco Corp.	​	7,924	​	​	685,901
Walgreens Boots Alliance, Inc.	​	11,210	​	​	409,165
Walmart, Inc.	​	22,484	​	​	3,200,148
Total Consumer Staples	​	​	​	​	29,859,124
Energy — 3.8%
Baker Hughes Co.	​	15,384	​	​	425,521
Cheniere Energy, Inc.	​	3,584	​	​	632,253
Exxon Mobil Corp.	​	66,204	​	​	7,336,065
Halliburton Co.	​	13,061	​	​	475,682
Kinder Morgan, Inc.	​	31,188	​	​	565,127
Marathon Petroleum Corp.	​	8,467	​	​	962,021
ONEOK, Inc.	​	6,970	​	​	413,460
Phillips 66	​	7,539	​	​	786,242
Schlumberger NV	​	22,165	​	​	1,153,245
Valero Energy Corp.	​	6,390	​	​	802,265
Williams Cos., Inc. (The)	​	19,080	​	​	624,488
Total Energy	​	​	​	​	14,176,369
Financials — 8.7%
Allstate Corp. (The)	​	4,235	​	​	534,669
Ally Financial, Inc.	​	4,881	​	​	134,520
American Express Co.	​	8,715	​	​	1,293,742
American International Group, Inc.	​	12,424	​	​	708,168
Ameriprise Financial, Inc.	​	1,720	​	​	531,686
Annaly Capital Management, Inc.	​	6,188	​	​	114,787
Arch Capital Group Ltd.*	​	5,700	​	​	327,750

See notes to financial statements.

84

Schedule of Investments — IQ Candriam ESG U.S. Large Cap Equity ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Financials (continued)
Arthur J Gallagher & Co.	​	3,265	​	$	610,816
Bank of America Corp.	​	110,601	​	​	3,986,060
Bank of New York Mellon Corp. (The)	​	11,448	​	​	482,075
Blackstone, Inc.	​	10,899	​	​	993,335
Capital One Financial Corp.	​	6,094	​	​	646,086
Cboe Global Markets, Inc.	​	1,702	​	​	211,899
Chubb Ltd.	​	6,210	​	​	1,334,467
Cincinnati Financial Corp.	​	2,497	​	​	257,990
Citigroup, Inc.	​	30,555	​	​	1,401,252
Citizens Financial Group, Inc.	​	7,733	​	​	316,280
CME Group, Inc.	​	5,611	​	​	972,386
Discover Financial Services	​	4,360	​	​	455,446
Everest Re Group Ltd.	​	610	​	​	196,823
Fifth Third Bancorp	​	10,972	​	​	391,591
First Republic Bank	​	2,805	​	​	336,881
Franklin Resources, Inc.(a)	​	4,723	​	​	110,754
Hartford Financial Services Group, Inc. (The)	​	5,146	​	​	372,622
Huntington Bancshares, Inc.	​	22,235	​	​	337,527
Intercontinental Exchange, Inc.	​	8,687	​	​	830,217
KeyCorp	​	14,857	​	​	265,495
Markel Corp.*	​	201	​	​	242,426
Marsh & McLennan Cos., Inc.	​	7,900	​	​	1,275,771
MetLife, Inc.	​	9,628	​	​	704,866
Moody’s Corp.	​	2,493	​	​	660,321
Morgan Stanley	​	21,384	​	​	1,757,123
Nasdaq, Inc.	​	5,517	​	​	343,378
Northern Trust Corp.	​	3,224	​	​	271,944
PNC Financial Services Group, Inc. (The)	​	6,455	​	​	1,044,613
Principal Financial Group, Inc.	​	4,065	​	​	358,249
Progressive Corp. (The)	​	9,166	​	​	1,176,914
Prudential Financial, Inc.	​	5,881	​	​	618,622
Raymond James Financial, Inc.	​	3,086	​	​	364,580
Regions Financial Corp.	​	14,608	​	​	320,646
S&P Global, Inc.	​	5,348	​	​	1,718,045
SVB Financial Group*	​	916	​	​	211,559
Synchrony Financial	​	7,836	​	​	278,648
Travelers Cos., Inc. (The)	​	3,754	​	​	692,463
Truist Financial Corp.	​	20,789	​	​	931,139
US Bancorp	​	20,943	​	​	889,030
Willis Towers Watson PLC	​	1,737	​	​	379,031
Total Financials	​	​	​	​	32,394,692
Health Care — 9.8%
ABIOMED, Inc.*	​	722	​	​	182,002
Agilent Technologies, Inc.	​	4,676	​	​	646,925
Alnylam Pharmaceuticals, Inc.*	​	1,890	​	​	391,721
Amgen, Inc.	​	8,406	​	​	2,272,562
Avantor, Inc.*	​	9,624	​	​	194,116
Baxter International, Inc.	​	7,895	​	​	429,093
Biogen, Inc.*	​	2,287	​	​	648,227
Bristol-Myers Squibb Co.	​	33,541	​	​	2,598,421
Cardinal Health, Inc.	​	4,260	​	​	323,334
Catalent, Inc.*	​	2,743	​	​	180,297
Cigna Corp.	​	4,983	​	​	1,609,808
Cooper Cos., Inc. (The)	​	792	​	​	216,525
Danaher Corp.	​	10,427	​	​	2,624,163

​	Shares		Value
Common Stocks (continued)
Health Care (continued)
DaVita, Inc.*	​	917	​	$	66,950
DENTSPLY SIRONA, Inc.	​	3,478	​	​	107,192
Dexcom, Inc.*	​	6,127	​	​	740,019
Edwards Lifesciences Corp.*	​	9,688	​	​	701,702
Elevance Health, Inc.	​	3,795	​	​	2,074,992
Eli Lilly & Co.	​	13,310	​	​	4,819,418
Exact Sciences Corp.*	​	2,800	​	​	97,384
Gilead Sciences, Inc.	​	19,765	​	​	1,550,762
Hologic, Inc.*	​	3,870	​	​	262,386
Horizon Therapeutics PLC*	​	3,681	​	​	229,400
Humana, Inc.	​	1,962	​	​	1,094,953
IDEXX Laboratories, Inc.*	​	1,307	​	​	470,102
Illumina, Inc.*	​	2,461	​	​	563,126
Incyte Corp.*	​	2,962	​	​	220,195
Intuitive Surgical, Inc.*	​	5,635	​	​	1,388,858
IQVIA Holdings, Inc.*	​	2,914	​	​	610,978
Jazz Pharmaceuticals PLC*	​	973	​	​	139,908
Laboratory Corp. of America Holdings	​	1,462	​	​	324,359
Merck & Co., Inc.	​	39,668	​	​	4,014,402
Mettler-Toledo International, Inc.*	​	350	​	​	442,726
Organon & Co.	​	4,070	​	​	106,553
Quest Diagnostics, Inc.	​	1,900	​	​	272,935
ResMed, Inc.	​	2,278	​	​	509,566
STERIS PLC	​	1,613	​	​	278,372
Teladoc Health, Inc.*	​	2,358	​	​	69,891
Vertex Pharmaceuticals, Inc.*	​	4,022	​	​	1,254,864
Waters Corp.*	​	943	​	​	282,117
West Pharmaceutical Services, Inc.	​	1,158	​	​	266,456
Zoetis, Inc.	​	7,410	​	​	1,117,280
Total Health Care	​	​	​	​	36,395,040
Industrials — 5.0%
3M Co.	​	8,936	​	​	1,124,059
A O Smith Corp.	​	2,113	​	​	115,750
Carrier Global Corp.	​	13,277	​	​	527,893
CH Robinson Worldwide, Inc.	​	1,961	​	​	191,629
Cintas Corp.	​	1,361	​	​	581,896
CSX Corp.	​	34,080	​	​	990,365
Deere & Co.	​	4,395	​	​	1,739,629
Dover Corp.	​	2,329	​	​	304,377
Equifax, Inc.	​	1,914	​	​	324,500
Expeditors International of Washington, Inc.	​	2,700	​	​	264,195
FedEx Corp.	​	3,756	​	​	602,012
Fortive Corp.	​	5,479	​	​	350,108
Fortune Brands Home & Security, Inc.	​	2,136	​	​	128,844
Illinois Tool Works, Inc.	​	4,287	​	​	915,403
Ingersoll Rand, Inc.	​	6,358	​	​	321,079
JB Hunt Transport Services, Inc.	​	1,351	​	​	231,116
Johnson Controls International PLC	​	10,893	​	​	630,051
Masco Corp.	​	3,818	​	​	176,659
Norfolk Southern Corp.	​	3,741	​	​	853,210
Otis Worldwide Corp.	​	6,642	​	​	469,191
Parker-Hannifin Corp.	​	2,005	​	​	582,693
Rockwell Automation, Inc.	​	1,823	​	​	465,412
Snap-on, Inc.	​	846	​	​	187,854
Stanley Black & Decker, Inc.	​	2,364	​	​	185,550
Trane Technologies PLC	​	3,657	​	​	583,767

See notes to financial statements.

85​

Schedule of Investments — IQ Candriam ESG U.S. Large Cap Equity ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Industrials (continued)
TransUnion	​	3,105	​	$	184,033
Union Pacific Corp.	​	9,877	​	​	1,947,152
United Parcel Service, Inc., Class B	​	11,574	​	​	1,941,770
United Rentals, Inc.*	​	1,119	​	​	353,279
Verisk Analytics, Inc.	​	2,429	​	​	444,094
Westinghouse Air Brake Technologies Corp.	​	2,712	​	​	252,975
WW Grainger, Inc.	​	716	​	​	418,395
Xylem, Inc.	​	2,907	​	​	297,764
Total Industrials	​	​	​	​	18,686,704
Information Technology — 35.4%
Accenture PLC, Class A	​	10,317	​	​	2,928,996
Adobe, Inc.*	​	7,259	​	​	2,311,991
Advanced Micro Devices, Inc.*	​	25,093	​	​	1,507,086
Akamai Technologies, Inc.*	​	2,450	​	​	216,409
Analog Devices, Inc.	​	8,047	​	​	1,147,663
ANSYS, Inc.*	​	1,345	​	​	297,460
Apple, Inc.	​	243,623	​	​	37,357,151
Applied Materials, Inc.	​	13,665	​	​	1,206,483
Arista Networks, Inc.*	​	3,698	​	​	446,940
Autodesk, Inc.*	​	3,369	​	​	721,977
Automatic Data Processing, Inc.	​	6,486	​	​	1,567,666
Bill.com Holdings, Inc.*	​	1,522	​	​	202,974
Block, Inc.*	​	7,978	​	​	479,238
Broadcom, Inc.	​	6,041	​	​	2,839,995
Broadridge Financial Solutions, Inc.	​	1,806	​	​	271,008
Cadence Design Systems, Inc.*	​	4,231	​	​	640,531
CDW Corp.	​	2,091	​	​	361,346
Cisco Systems, Inc.	​	58,880	​	​	2,674,918
Cognizant Technology Solutions Corp., Class A	​	8,089	​	​	503,540
Crowdstrike Holdings, Inc., Class A*	​	3,222	​	​	519,386
Datadog, Inc., Class A*	​	3,967	​	​	319,383
Dell Technologies, Inc., Class C	​	4,197	​	​	161,165
DocuSign, Inc.*	​	3,048	​	​	147,218
Enphase Energy, Inc.*	​	2,047	​	​	628,429
EPAM Systems, Inc.*	​	860	​	​	301,000
F5, Inc.*	​	919	​	​	131,334
Fidelity National Information Services, Inc.	​	9,382	​	​	778,612
Fiserv, Inc.*	​	9,387	​	​	964,420
FleetCor Technologies, Inc.*	​	1,180	​	​	219,622
Fortinet, Inc.*	​	10,595	​	​	605,610
Gartner, Inc.*	​	1,216	​	​	367,135
Global Payments, Inc.	​	4,386	​	​	501,144
Hewlett Packard Enterprise Co.	​	20,145	​	​	287,469
HP, Inc.	​	15,983	​	​	441,450
HubSpot, Inc.*	​	705	​	​	209,075
Intel Corp.	​	63,563	​	​	1,807,096
International Business Machines Corp.	​	13,969	​	​	1,931,773
Intuit, Inc.	​	4,266	​	​	1,823,715
Keysight Technologies, Inc.*	​	2,778	​	​	483,789
KLA Corp.	​	2,308	​	​	730,367
Lam Research Corp.	​	2,172	​	​	879,182
Marvell Technology, Inc.	​	13,145	​	​	521,594
Mastercard, Inc., Class A	​	13,467	​	​	4,419,600
Micron Technology, Inc.	​	17,099	​	​	925,056

​	Shares		Value
Common Stocks (continued)
Information Technology (continued)
Microsoft Corp.	​	114,579	​	$	26,597,223
MongoDB, Inc.*	​	1,017	​	​	186,142
Motorola Solutions, Inc.	​	2,589	​	​	646,499
NetApp, Inc.	​	3,428	​	​	237,458
NortonLifeLock, Inc.	​	8,541	​	​	192,429
NVIDIA Corp.	​	37,326	​	​	5,037,890
Okta, Inc.*	​	2,287	​	​	128,346
Palo Alto Networks, Inc.*	​	4,529	​	​	777,131
Paycom Software, Inc.*	​	795	​	​	275,070
PayPal Holdings, Inc.*	​	18,170	​	​	1,518,649
QUALCOMM, Inc.	​	17,392	​	​	2,046,343
Qualtrics International, Inc., Class A*	​	1,409	​	​	16,866
RingCentral, Inc., Class A*	​	1,253	​	​	44,507
Roper Technologies, Inc.	​	1,638	​	​	679,017
Salesforce, Inc.*	​	14,986	​	​	2,436,574
Seagate Technology Holdings PLC	​	3,104	​	​	154,145
ServiceNow, Inc.*	​	3,100	​	​	1,304,294
Skyworks Solutions, Inc.	​	2,494	​	​	214,509
Splunk, Inc.*	​	2,485	​	​	206,528
Synopsys, Inc.*	​	2,363	​	​	691,296
TE Connectivity Ltd.	​	4,999	​	​	611,028
Teradyne, Inc.	​	2,444	​	​	198,819
Texas Instruments, Inc.	​	14,323	​	​	2,300,703
Trimble, Inc.*	​	3,870	​	​	232,819
Twilio, Inc., Class A*	​	2,644	​	​	196,634
VeriSign, Inc.*	​	1,483	​	​	297,282
Visa, Inc., Class A(a)	​	25,800	​	​	5,344,728
VMware, Inc., Class A	​	3,448	​	​	388,003
Western Digital Corp.*	​	4,786	​	​	164,495
Workday, Inc., Class A*	​	3,051	​	​	475,407
Zebra Technologies Corp., Class A*	​	812	​	​	229,975
Zscaler, Inc.*	​	1,297	​	​	199,868
Total Information Technology	​	​	​	​	131,818,673
Materials — 2.3%
Air Products and Chemicals, Inc.	​	3,474	​	​	869,890
Albemarle Corp.	​	1,834	​	​	513,281
Ball Corp.	​	4,987	​	​	246,308
DuPont de Nemours, Inc.	​	7,333	​	​	419,448
Ecolab, Inc.	​	3,983	​	​	625,610
International Flavors & Fragrances, Inc.	​	3,999	​	​	390,342
Linde PLC	​	7,842	​	​	2,331,819
LyondellBasell Industries NV, Class A	​	4,026	​	​	307,788
Martin Marietta Materials, Inc.	​	973	​	​	326,908
Mosaic Co. (The)	​	5,822	​	​	312,932
Newmont Corp.	​	12,452	​	​	526,969
Packaging Corp. of America	​	1,490	​	​	179,113
PPG Industries, Inc.	​	3,705	​	​	423,037
Sherwin-Williams Co. (The)	​	3,742	​	​	842,062
Vulcan Materials Co.	​	2,037	​	​	333,457
Westrock Co.	​	3,944	​	​	134,333
Total Materials	​	​	​	​	8,783,297
Real Estate — 3.2%
Alexandria Real Estate Equities, Inc.	​	2,538	​	​	368,771
American Tower Corp.	​	7,320	​	​	1,516,631
AvalonBay Communities, Inc.	​	2,151	​	​	376,683
Boston Properties, Inc.	​	2,316	​	​	168,373

See notes to financial statements.

86

Schedule of Investments — IQ Candriam ESG U.S. Large Cap Equity ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Real Estate (continued)
CBRE Group, Inc., Class A*	​	4,935	​	$	350,089
Crown Castle, Inc.	​	6,771	​	​	902,303
Digital Realty Trust, Inc.	​	4,468	​	​	447,917
Equinix, Inc.	​	1,427	​	​	808,310
Equity Residential	​	5,724	​	​	360,727
Essex Property Trust, Inc.	​	1,050	​	​	233,352
Extra Space Storage, Inc.	​	2,078	​	​	368,720
Healthpeak Properties, Inc.	​	8,716	​	​	206,831
Host Hotels & Resorts, Inc.	​	11,442	​	​	216,025
Invitation Homes, Inc.	​	9,565	​	​	303,115
Iron Mountain, Inc.	​	4,664	​	​	233,527
Mid-America Apartment Communities, Inc.	​	1,802	​	​	283,725
Prologis, Inc.	​	14,532	​	​	1,609,419
Public Storage	​	2,382	​	​	737,825
Realty Income Corp.	​	9,442	​	​	587,953
Simon Property Group, Inc.	​	5,124	​	​	558,414
UDR, Inc.	​	4,973	​	​	197,727
Ventas, Inc.	​	6,249	​	​	244,523
Welltower, Inc.	​	7,129	​	​	435,154
Weyerhaeuser Co.	​	11,665	​	​	360,798
WP Carey, Inc.	​	3,046	​	​	232,410
Total Real Estate	​	​	​	​	12,109,322
Utilities — 1.5%
American Water Works Co., Inc.	​	2,848	​	​	413,928
Avangrid, Inc.(a)	​	1,141	​	​	46,416
Consolidated Edison, Inc.	​	5,559	​	​	488,970
Dominion Energy, Inc.	​	12,711	​	​	889,389
Edison International	​	5,987	​	​	359,459

​	Shares		Value
Common Stocks (continued)
Utilities (continued)
Eversource Energy	​	5,364	​	$	409,166
NextEra Energy, Inc.	​	30,899	​	​	2,394,673
Public Service Enterprise Group, Inc.	​	7,831	​	​	439,084
Total Utilities	​	​	​	​	5,441,085
Total Common Stocks (Cost $377,188,946)	​	​	​	​	371,785,982
Short-Term Investment — 0.0%(b)
Money Market Fund — 0.0%(b)
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 3.09%(c) (Cost $168,825)	​	168,825	​	​	168,825
Total Investments — 99.7% (Cost $377,357,771)	​	​	​	​	371,954,807
Other Assets and Liabilities, Net — 0.3%	​	​	​	​	781,330
Net Assets — 100.0%	​	​	​	$	372,736,137

*

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 $5,496,291; total market value of collateral held consisted of non-cash U.S. Treasury securities collateral having a value of $5,665,849.

(b)

Less than 0.05%.

(c)

Reflects the 1-day yield at October 31, 2022.

The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2022. 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

​

$

371,785,982

​

$

—

​

$

—

​

$

371,785,982

Short-Term Investment:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Fund

​

​

168,825

​

​

—

​

​

—

​

​

168,825

Total Investments in Securities

​

$

371,954,807

​

$

—

​

$

—

​

$

371,954,808

(d)

For a complete listing of investments and their industries, see the Schedule of Investments.

For the period ended October 31, 2022, 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.

87​

Schedule of Investments — IQ Candriam ESG U.S. Mid Cap Equity ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks — 99.9%
Communication Services — 2.7%
AMC Entertainment Holdings, Inc., Class A*	​	1,668	​	$	11,109
Bumble, Inc., Class A*	​	276	​	​	7,010
Cable One, Inc.	​	20	​	​	17,189
Frontier Communications Parent, Inc.*	​	788	​	​	18,455
IAC, Inc.*	​	252	​	​	12,267
Interpublic Group of Cos., Inc. (The)	​	1,264	​	​	37,655
New York Times Co. (The), Class A	​	516	​	​	14,943
Nexstar Media Group, Inc.	​	124	​	​	21,241
Total Communication Services	​	​	​	​	139,869
Consumer Discretionary — 14.4%
ADT, Inc.	​	664	​	​	5,617
Advance Auto Parts, Inc.	​	196	​	​	37,224
Aramark	​	820	​	​	29,930
Autoliv, Inc.	​	280	​	​	22,498
Bath & Body Works, Inc.	​	696	​	​	23,233
BorgWarner, Inc.	​	772	​	​	28,973
Bright Horizons Family Solutions, Inc.*	​	188	​	​	12,280
Brunswick Corp.	​	244	​	​	17,243
Deckers Outdoor Corp.*	​	88	​	​	30,794
GameStop Corp., Class A*	​	840	​	​	23,780
Gentex Corp.	​	760	​	​	20,132
H&R Block, Inc.	​	512	​	​	21,069
Hasbro, Inc.	​	416	​	​	27,144
Hyatt Hotels Corp., Class A*	​	164	​	​	15,450
Lear Corp.	​	192	​	​	26,632
Levi Strauss & Co., Class A	​	276	​	​	4,129
Lithia Motors, Inc.	​	92	​	​	18,230
LKQ Corp.	​	796	​	​	44,289
Macy’s, Inc.	​	860	​	​	17,931
Marriott Vacations Worldwide Corp.	​	124	​	​	18,322
Mattel, Inc.*	​	1,136	​	​	21,539
Newell Brands, Inc.	​	1,224	​	​	16,903
Planet Fitness, Inc., Class A*	​	272	​	​	17,811
Polaris, Inc.	​	180	​	​	18,288
Ralph Lauren Corp.	​	132	​	​	12,235
RH*	​	64	​	​	16,252
Royal Caribbean Cruises Ltd.*	​	704	​	​	37,580
Tapestry, Inc.	​	812	​	​	25,724
Texas Roadhouse, Inc.	​	220	​	​	21,769
TopBuild Corp.*	​	104	​	​	17,695
Vail Resorts, Inc.	​	128	​	​	28,049
Whirlpool Corp.	​	180	​	​	24,883
Williams-Sonoma, Inc.	​	220	​	​	27,243
Wyndham Hotels & Resorts, Inc.	​	292	​	​	22,172
Total Consumer Discretionary	​	​	​	​	753,043
Consumer Staples — 4.3%
Bunge Ltd.	​	484	​	​	47,771
Coty, Inc., Class A*	​	1,160	​	​	7,783
Darling Ingredients, Inc.*	​	516	​	​	40,496
Flowers Foods, Inc.	​	592	​	​	16,996
J M Smucker Co. (The)	​	324	​	​	48,814
Lamb Weston Holdings, Inc.	​	464	​	​	40,006
US Foods Holding Corp.*	​	720	​	​	21,427
Total Consumer Staples	​	​	​	​	223,293

​	Shares		Value
Common Stocks (continued)
Energy — 1.5%
NOV, Inc.	​	1,264	​	$	28,313
Targa Resources Corp.	​	724	​	​	49,500
Total Energy	​	​	​	​	77,813
Financials — 12.3%
Affiliated Managers Group, Inc.	​	124	​	​	15,396
AGNC Investment Corp.	​	1,680	​	​	13,809
Ally Financial, Inc.	​	1,008	​	​	27,780
Annaly Capital Management, Inc.	​	1,272	​	​	23,595
Assurant, Inc.	​	172	​	​	23,368
Cboe Global Markets, Inc.	​	344	​	​	42,828
Comerica, Inc.	​	420	​	​	29,610
Commerce Bancshares, Inc.	​	356	​	​	25,219
Equitable Holdings, Inc.	​	1,228	​	​	37,601
Everest Re Group Ltd.	​	124	​	​	40,010
First American Financial Corp.	​	332	​	​	16,733
Jefferies Financial Group, Inc.	​	560	​	​	19,270
Lincoln National Corp.	​	504	​	​	27,150
MarketAxess Holdings, Inc.	​	120	​	​	29,285
OneMain Holdings, Inc.	​	360	​	​	13,882
Pinnacle Financial Partners, Inc.	​	240	​	​	19,918
Popular, Inc.	​	244	​	​	17,256
Reinsurance Group of America, Inc.	​	212	​	​	31,200
RenaissanceRe Holdings Ltd.	​	140	​	​	21,655
SEI Investments Co.	​	400	​	​	21,720
Synovus Financial Corp.	​	448	​	​	17,853
Unum Group	​	568	​	​	25,895
Voya Financial, Inc.	​	328	​	​	22,422
Webster Financial Corp.	​	572	​	​	31,037
Western Alliance Bancorp	​	340	​	​	22,838
Zions Bancorp NA	​	484	​	​	25,139
Total Financials	​	​	​	​	642,469
Health Care — 11.7%
ABIOMED, Inc.*	​	144	​	​	36,299
Acadia Healthcare Co., Inc.*	​	288	​	​	23,414
Bio-Techne Corp.	​	124	​	​	36,736
Cardinal Health, Inc.	​	880	​	​	66,792
Chemed Corp.	​	48	​	​	22,410
DaVita, Inc.*	​	180	​	​	13,142
DENTSPLY SIRONA, Inc.	​	696	​	​	21,451
Encompass Health Corp.	​	316	​	​	17,203
Exact Sciences Corp.*	​	564	​	​	19,616
Guardant Health, Inc.*	​	316	​	​	15,642
Halozyme Therapeutics, Inc.*	​	440	​	​	21,036
Inspire Medical Systems, Inc.*	​	88	​	​	17,156
Jazz Pharmaceuticals PLC*	​	196	​	​	28,183
Maravai LifeSciences Holdings, Inc., Class A*	​	356	​	​	5,910
Neurocrine Biosciences, Inc.*	​	304	​	​	34,996
Oak Street Health, Inc.*	​	372	​	​	7,526
Organon & Co.	​	820	​	​	21,468
Penumbra, Inc.*	​	116	​	​	19,891
QIAGEN NV*	​	732	​	​	31,886
Repligen Corp.*	​	176	​	​	32,118
Sarepta Therapeutics, Inc.*	​	268	​	​	30,557
Shockwave Medical, Inc.*	​	108	​	​	31,660
Teladoc Health, Inc.*	​	472	​	​	13,990

See notes to financial statements.

88

Schedule of Investments — IQ Candriam ESG U.S. Mid Cap Equity ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Health Care (continued)
Ultragenyx Pharmaceutical, Inc.*	​	212	​	$	8,578
United Therapeutics Corp.*	​	144	​	​	33,196
Total Health Care	​	​	​	​	610,856
Industrials — 20.0%
A O Smith Corp.	​	416	​	​	22,789
Acuity Brands, Inc.	​	104	​	​	19,091
Advanced Drainage Systems, Inc.	​	236	​	​	27,348
AGCO Corp.	​	196	​	​	24,337
Alaska Air Group, Inc.*	​	408	​	​	18,140
Avis Budget Group, Inc.*	​	92	​	​	21,754
Axon Enterprise, Inc.*	​	216	​	​	31,415
Carlisle Cos., Inc.	​	164	​	​	39,163
CH Robinson Worldwide, Inc.	​	404	​	​	39,479
Chart Industries, Inc.*	​	120	​	​	26,746
Clarivate PLC*	​	1,352	​	​	13,966
Donaldson Co., Inc.	​	392	​	​	22,520
Fortune Brands Home & Security, Inc.	​	420	​	​	25,334
FTI Consulting, Inc.*	​	108	​	​	16,808
Graco, Inc.	​	536	​	​	37,295
Hertz Global Holdings, Inc.*	​	732	​	​	13,469
Howmet Aerospace, Inc.	​	1,208	​	​	42,944
Hubbell, Inc.	​	172	​	​	40,847
ITT, Inc.	​	268	​	​	20,473
Knight-Swift Transportation Holdings, Inc.	​	496	​	​	23,823
Landstar System, Inc.	​	120	​	​	18,746
Lennox International, Inc.	​	104	​	​	24,291
Lincoln Electric Holdings, Inc.	​	188	​	​	26,696
Masco Corp.	​	760	​	​	35,165
MasTec, Inc.*	​	192	​	​	14,799
MDU Resources Group, Inc.	​	652	​	​	18,569
MSA Safety, Inc.	​	120	​	​	16,109
Nordson Corp.	​	164	​	​	36,900
Owens Corning	​	308	​	​	26,368
Pentair PLC	​	532	​	​	22,849
Plug Power, Inc.*	​	1,852	​	​	29,595
Regal Rexnord Corp.	​	216	​	​	27,333
Robert Half International, Inc.	​	348	​	​	26,608
Saia, Inc.*	​	84	​	​	16,704
Snap-on, Inc.	​	168	​	​	37,304
Sunrun, Inc.*	​	660	​	​	14,857
Tetra Tech, Inc.	​	172	​	​	24,300
Toro Co. (The)	​	336	​	​	35,425
Trex Co., Inc.*	​	364	​	​	17,505
WillScot Mobile Mini Holdings Corp.*	​	704	​	​	29,941
XPO Logistics, Inc.*	​	348	​	​	18,006
Total Industrials	​	​	​	​	1,045,811
Information Technology — 15.2%
Arrow Electronics, Inc.*	​	216	​	​	21,872
Black Knight, Inc.*	​	488	​	​	29,509
Ceridian HCM Holding, Inc.*	​	460	​	​	30,448
Cognex Corp.	​	544	​	​	25,149
Coupa Software, Inc.*	​	244	​	​	12,988
Dropbox, Inc., Class A*	​	900	​	​	19,575
Dynatrace, Inc.*	​	648	​	​	22,836
Entegris, Inc.	​	436	​	​	34,592

​	Shares		Value
Common Stocks (continued)
Information Technology (continued)
F5, Inc.*	​	196	​	$	28,010
Fair Isaac Corp.*	​	84	​	​	40,223
First Solar, Inc.*	​	308	​	​	44,836
Five9, Inc.*	​	220	​	​	13,257
Flex Ltd.*	​	1,468	​	​	28,744
Globant SA*	​	132	​	​	24,906
GoDaddy, Inc., Class A*	​	520	​	​	41,808
Guidewire Software, Inc.*	​	268	​	​	15,922
Jack Henry & Associates, Inc.	​	236	​	​	46,978
Juniper Networks, Inc.	​	1,032	​	​	31,579
Littelfuse, Inc.	​	80	​	​	17,620
MKS Instruments, Inc.	​	180	​	​	14,787
NortonLifeLock, Inc.	​	1,756	​	​	39,563
PTC, Inc.*	​	340	​	​	40,062
Qualtrics International, Inc., Class A*	​	308	​	​	3,687
RingCentral, Inc., Class A*	​	268	​	​	9,519
Switch, Inc., Class A	​	416	​	​	14,165
Synaptics, Inc.*	​	128	​	​	11,341
TD SYNNEX Corp.	​	136	​	​	12,445
Universal Display Corp.	​	140	​	​	13,331
Western Union Co. (The)	​	1,236	​	​	16,698
WEX, Inc.*	​	144	​	​	23,636
Wolfspeed, Inc.*	​	396	​	​	31,185
Zendesk, Inc.*	​	396	​	​	30,369
Total Information Technology	​	​	​	​	791,640
Materials — 6.5%
Alcoa Corp.	​	592	​	​	23,106
Ashland, Inc.	​	164	​	​	17,207
Avery Dennison Corp.	​	264	​	​	44,761
Axalta Coating Systems Ltd.*	​	716	​	​	16,697
Cleveland-Cliffs, Inc.*	​	1,548	​	​	20,109
Crown Holdings, Inc.	​	392	​	​	26,887
Graphic Packaging Holding Co.	​	988	​	​	22,684
Huntsman Corp.	​	576	​	​	15,414
Packaging Corp. of America	​	300	​	​	36,063
Sonoco Products Co.	​	312	​	​	19,369
Steel Dynamics, Inc.	​	576	​	​	54,173
United States Steel Corp.	​	756	​	​	15,392
Westrock Co.	​	812	​	​	27,657
Total Materials	​	​	​	​	339,519
Real Estate — 9.8%
Agree Realty Corp.	​	256	​	​	17,587
American Homes 4 Rent, Class A	​	912	​	​	29,129
Brixmor Property Group, Inc.	​	964	​	​	20,543
CubeSmart	​	724	​	​	30,314
Federal Realty Investment Trust	​	256	​	​	25,339
First Industrial Realty Trust, Inc.	​	424	​	​	20,195
Host Hotels & Resorts, Inc.	​	2,288	​	​	43,197
Iron Mountain, Inc.	​	932	​	​	46,665
Jones Lang LaSalle, Inc.*	​	156	​	​	24,818
Kilroy Realty Corp.	​	372	​	​	15,899
Kimco Realty Corp.	​	1,956	​	​	41,819
Life Storage, Inc.	​	272	​	​	30,086
Medical Properties Trust, Inc.	​	1,916	​	​	21,938
Omega Healthcare Investors, Inc.	​	760	​	​	24,153
Rayonier, Inc.	​	468	​	​	15,772

See notes to financial statements.

89​

Schedule of Investments — IQ Candriam ESG U.S. Mid Cap Equity ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Real Estate (continued)
Regency Centers Corp.	​	552	​	$	33,402
Rexford Industrial Realty, Inc.	​	532	​	​	29,409
STORE Capital Corp.	​	852	​	​	27,094
Vornado Realty Trust	​	572	​	​	13,493
Total Real Estate	​	​	​	​	510,852
Utilities — 1.5%
Brookfield Renewable Corp., Class A	​	412	​	​	12,785
Clearway Energy, Inc., Class A	​	112	​	​	3,621
Clearway Energy, Inc., Class C	​	264	​	​	9,171
Essential Utilities, Inc.	​	764	​	​	33,784
NextEra Energy Partners LP	​	272	​	​	20,147
Total Utilities	​	​	​	​	79,508
Total Common Stocks (Cost $5,035,037)	​	​	​	​	5,214,673

​	Shares		Value
Short-Term Investment — 0.1%
Money Market Fund — 0.1%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 3.09%(a) (Cost $4,995)	​	4,995	​	$	4,995
Total Investments — 100.0% (Cost $5,040,032)	​	​	​	​	5,219,668
Other Assets and Liabilities, Net — (0.0)%(b)	​	​	​	​	1,870
Net Assets — 100.0%	​	​	​	$	5,221,538

*

Non-income producing securities.

(a)

Reflects the 1-day yield at October 31, 2022.

(b)

Less than 0.05%.

The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2022. 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

​

$

5,214,673

​

$

—

​

$

—

​

$

5,214,673

Short-Term Investment:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Fund

​

​

4,995

​

​

—

​

​

—

​

​

4,995

Total Investments in Securities

​

$

5,219,668

​

$

—

​

$

—

​

$

5,219,668

(c)

For a complete listing of investments and their industries, see the Schedule of Investments.

For the period ended October 31, 2022, 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.

90

Schedule of Investments — IQ Candriam ESG International Equity ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks — 99.0%
Australia — 7.0%
Alumina Ltd.	​	47,117	​	$	40,674
AMP Ltd.*	​	58,715	​	​	47,307
Ampol Ltd.	​	4,301	​	​	74,890
APA Group	​	21,343	​	​	143,439
ASX Ltd.	​	3,461	​	​	149,830
Aurizon Holdings Ltd.	​	33,631	​	​	77,850
Australia & New Zealand Banking Group Ltd.	​	54,061	​	​	883,594
BlueScope Steel Ltd.	​	8,494	​	​	85,438
Boral Ltd.	​	6,117	​	​	11,265
Brambles Ltd.	​	25,085	​	​	187,355
Charter Hall Group	​	8,020	​	​	66,361
Cochlear Ltd.	​	1,186	​	​	151,458
Coles Group Ltd.	​	22,987	​	​	240,036
Dexus	​	19,338	​	​	95,958
Domino’s Pizza Enterprises Ltd.	​	1,081	​	​	44,067
Evolution Mining Ltd.	​	33,102	​	​	44,028
Fortescue Metals Group Ltd.	​	32,320	​	​	303,806
Goodman Group	​	32,746	​	​	355,971
GPT Group (The)	​	34,560	​	​	95,249
IDP Education Ltd.	​	3,810	​	​	72,090
IGO Ltd.	​	13,361	​	​	130,633
Insurance Australia Group Ltd.	​	44,519	​	​	139,492
Lendlease Corp., Ltd.	​	12,579	​	​	69,899
Lynas Rare Earths Ltd.*	​	16,202	​	​	86,302
Macquarie Group Ltd.	​	6,341	​	​	687,282
Medibank Pvt Ltd.	​	49,652	​	​	89,218
Mineral Resources Ltd.	​	2,960	​	​	138,419
Mirvac Group	​	71,013	​	​	93,997
National Australia Bank Ltd.	​	57,796	​	​	1,198,170
Orica Ltd.	​	7,435	​	​	65,990
OZ Minerals Ltd.	​	5,617	​	​	86,814
QBE Insurance Group Ltd.	​	26,715	​	​	209,095
Ramsay Health Care Ltd.	​	3,356	​	​	125,691
REA Group Ltd.	​	906	​	​	70,442
Rio Tinto Ltd.	​	6,713	​	​	378,611
Rio Tinto PLC	​	19,330	​	​	1,009,731
Santos Ltd.	​	60,900	​	​	299,858
Scentre Group	​	93,777	​	​	173,901
SEEK Ltd.	​	5,944	​	​	82,061
Sonic Healthcare Ltd.	​	8,592	​	​	180,044
Stockland	​	39,844	​	​	91,722
Suncorp Group Ltd.	​	22,792	​	​	166,294
Telstra Group Ltd.*	​	208,272	​	​	522,065
Transurban Group	​	55,448	​	​	470,151
Vicinity Centres	​	69,994	​	​	87,054
Wesfarmers Ltd.	​	20,481	​	​	595,372
Westpac Banking Corp.	​	63,323	​	​	976,262
WiseTech Global Ltd.	​	2,894	​	​	107,629
Woodside Energy Group Ltd.	​	34,406	​	​	791,595
Woolworths Group Ltd.	​	21,933	​	​	463,109
Total Australia	​	​	​	​	12,757,569
Austria — 0.4%
ams-OSRAM AG*	​	4,777	​	​	27,094
ANDRITZ AG	​	1,316	​	​	61,209
BAWAG Group AG*	​	1,606	​	​	77,650
CA Immobilien Anlagen AG	​	748	​	​	23,620

​	Shares		Value
Common Stocks (continued)
Austria (continued)
Erste Group Bank AG	​	5,817	​	$	143,500
EVN AG	​	647	​	​	10,769
Mondi PLC	​	8,777	​	​	147,791
OMV AG	​	2,575	​	​	118,699
Verbund AG	​	595	​	​	46,604
voestalpine AG	​	2,035	​	​	44,208
Wienerberger AG	​	1,974	​	​	45,146
Total Austria	​	​	​	​	746,290
Belgium — 0.6%
Ageas SA	​	3,158	​	​	109,336
Azelis Group NV	​	1,276	​	​	29,208
D’ieteren Group	​	398	​	​	66,203
Elia Group SA	​	606	​	​	76,604
Etablissements Franz Colruyt NV	​	947	​	​	22,828
KBC Group NV	​	5,068	​	​	253,954
Proximus SADP	​	2,593	​	​	27,191
Sofina SA	​	276	​	​	53,875
Solvay SA	​	1,280	​	​	115,426
Telenet Group Holding NV	​	804	​	​	12,261
UCB SA	​	2,216	​	​	167,154
Umicore SA	​	3,650	​	​	120,309
Warehouses De Pauw CVA	​	2,589	​	​	66,478
Total Belgium	​	​	​	​	1,120,827
Chile — 0.0%(a)
Antofagasta PLC	​	6,325	​	​	85,603
China — 0.8%
Alibaba Health Information Technology Ltd.*	​	74,515	​	​	31,515
BYD Electronic International Co., Ltd.	​	11,702	​	​	33,989
China Gas Holdings Ltd.	​	38,705	​	​	34,317
China Mengniu Dairy Co., Ltd.*	​	54,926	​	​	175,976
Chow Tai Fook Jewellery Group Ltd.	​	31,946	​	​	54,696
CSPC Pharmaceutical Group Ltd.	​	151,521	​	​	155,770
ESR Group Ltd.	​	43,820	​	​	74,802
Fosun International Ltd.	​	40,735	​	​	24,909
Futu Holdings Ltd.*	​	1,400	​	​	47,404
NXP Semiconductors NV	​	4,752	​	​	694,172
Shimao Group Holdings Ltd.*(b)(c)	​	20,336	​	​	11,451
Wilmar International Ltd.	​	32,296	​	​	88,551
Xinyi Glass Holdings Ltd.	​	28,316	​	​	36,433
Total China	​	​	​	​	1,463,985
Colombia — 0.0%(a)
Millicom International Cellular SA*	​	3,113	​	​	33,749
Denmark — 3.0%
AP Moller — Maersk A/S, Class A	​	53	​	​	106,105
AP Moller — Maersk A/S, Class B	​	98	​	​	205,041
Chr Hansen Holding A/S	​	1,857	​	​	103,148
Coloplast A/S, Class B	​	2,211	​	​	246,562
Demant A/S*	​	1,631	​	​	44,583
Genmab A/S*	​	1,171	​	​	451,452
GN Store Nord A/S	​	2,285	​	​	48,596
Novo Nordisk A/S, Class B	​	29,821	​	​	3,242,777
Novozymes A/S, Class B	​	3,665	​	​	192,530
Orsted A/S	​	3,232	​	​	266,625

See notes to financial statements.

91​

Schedule of Investments — IQ Candriam ESG International Equity ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Denmark (continued)
Pandora A/S	​	1,681	​	$	88,619
Tryg A/S	​	6,385	​	​	138,210
Vestas Wind Systems A/S	​	18,181	​	​	358,187
Total Denmark	​	​	​	​	5,492,435
Faroe Islands — 0.0%(a)
Bakkafrost P/F	​	910	​	​	45,470
Finland — 1.5%
Elisa OYJ	​	2,660	​	​	128,585
Fortum OYJ	​	7,661	​	​	107,859
Huhtamaki OYJ	​	1,740	​	​	62,512
Kesko OYJ, Class B	​	4,408	​	​	85,826
Kone OYJ, Class B	​	6,393	​	​	261,902
Metso Outotec OYJ	​	12,522	​	​	95,073
Neste OYJ	​	8,565	​	​	375,347
Nokia OYJ	​	94,740	​	​	422,018
Nordea Bank Abp*	​	60,020	​	​	573,986
Orion OYJ, Class B	​	1,842	​	​	84,746
Stora Enso OYJ, Class R	​	10,458	​	​	136,334
UPM-Kymmene OYJ	​	9,547	​	​	319,966
Wartsila OYJ Abp	​	10,064	​	​	68,632
Total Finland	​	​	​	​	2,722,786
France — 10.6%
Adevinta ASA*	​	7,181	​	​	49,177
Air Liquide SA	​	9,462	​	​	1,237,236
Amundi SA	​	1,126	​	​	53,173
AXA SA	​	41,101	​	​	1,015,552
BioMerieux	​	864	​	​	76,461
BNP Paribas SA	​	20,373	​	​	956,340
Bouygues SA	​	5,377	​	​	153,478
Capgemini SE	​	2,933	​	​	481,929
Carrefour SA	​	10,548	​	​	169,773
Cie de Saint-Gobain	​	7,663	​	​	313,551
Cie Generale des Etablissements Michelin SCA	​	12,919	​	​	329,554
Credit Agricole SA	​	25,549	​	​	231,958
Danone SA	​	11,678	​	​	581,020
Dassault Systemes SE	​	12,246	​	​	410,907
EssilorLuxottica SA	​	5,413	​	​	857,860
Hermes International	​	614	​	​	795,271
Kering SA	​	1,294	​	​	593,036
Legrand SA	​	4,740	​	​	361,383
L’Oreal SA	​	4,362	​	​	1,371,384
LVMH Moet Hennessy Louis Vuitton SE	​	4,704	​	​	2,970,830
Sanofi	​	19,656	​	​	1,696,556
Sartorius Stedim Biotech	​	437	​	​	138,729
Societe Generale SA	​	14,727	​	​	338,049
Sodexo SA	​	1,503	​	​	133,308
TotalEnergies SE(c)	​	47,290	​	​	2,575,316
Vinci SA	​	10,351	​	​	953,267
Vivendi SE	​	12,945	​	​	105,987
Worldline SA*	​	4,018	​	​	176,003
Total France	​	​	​	​	19,127,088
Germany — 6.9%
adidas AG	​	3,021	​	​	295,534

​	Shares		Value
Common Stocks (continued)
Germany (continued)
Allianz SE	​	7,179	​	$	1,292,772
Bayerische Motoren Werke AG	​	5,805	​	​	456,235
Beiersdorf AG	​	1,770	​	​	170,004
Carl Zeiss Meditec AG	​	669	​	​	81,031
Continental AG	​	1,954	​	​	101,351
Covestro AG	​	3,424	​	​	116,548
Deutsche Boerse AG	​	3,317	​	​	539,780
Deutsche Post AG	​	17,547	​	​	622,770
Deutsche Telekom AG	​	58,765	​	​	1,113,050
E.ON SE	​	38,560	​	​	323,026
Evonik Industries AG	​	3,240	​	​	59,738
Hannover Rueck SE	​	1,086	​	​	176,887
Hapag-Lloyd AG(c)	​	439	​	​	79,357
HeidelbergCement AG	​	2,620	​	​	120,799
Henkel AG & Co. KGaA	​	1,824	​	​	107,173
Infineon Technologies AG	​	21,737	​	​	529,359
Knorr-Bremse AG	​	1,214	​	​	54,665
Mercedes-Benz Group AG	​	15,277	​	​	884,800
Merck KGaA	​	2,338	​	​	381,275
Muenchener Rueckversicherungs- Gesellschaft AG	​	2,534	​	​	669,696
Puma SE	​	1,819	​	​	80,560
SAP SE	​	18,772	​	​	1,812,097
Siemens AG	​	14,480	​	​	1,583,399
Symrise AG	​	2,327	​	​	237,693
Talanx AG	​	974	​	​	36,600
Telefonica Deutschland Holding AG	​	14,354	​	​	31,296
Volkswagen AG	​	521	​	​	89,083
Vonovia SE	​	14,423	​	​	319,310
Zalando SE*	​	4,201	​	​	96,867
Total Germany	​	​	​	​	12,462,755
Hong Kong — 2.5%
AIA Group Ltd.	​	217,421	​	​	1,646,615
Bank of East Asia Ltd. (The)	​	17,309	​	​	16,582
Hang Lung Properties Ltd.	​	32,976	​	​	41,462
Hang Seng Bank Ltd.	​	13,094	​	​	184,320
HKT Trust & HKT Ltd.	​	62,300	​	​	70,396
Hong Kong & China Gas Co., Ltd.	​	196,290	​	​	151,534
Hong Kong Exchanges & Clearing Ltd.	​	22,956	​	​	611,197
Link REIT	​	38,152	​	​	225,514
MTR Corp., Ltd.	​	28,136	​	​	123,837
Power Assets Holdings Ltd.	​	24,719	​	​	118,244
Prudential PLC	​	49,665	​	​	463,628
Sino Biopharmaceutical Ltd.	​	177,355	​	​	86,081
Sun Hung Kai Properties Ltd.	​	25,715	​	​	276,646
Swire Pacific Ltd., Class A	​	8,444	​	​	55,882
Swire Properties Ltd.	​	19,246	​	​	36,973
Techtronic Industries Co., Ltd.	​	24,908	​	​	235,917
Wharf Real Estate Investment Co., Ltd.	​	26,649	​	​	105,070
Total Hong Kong	​	​	​	​	4,449,898
Ireland — 0.7%
AerCap Holdings NV*	​	2,408	​	​	128,612
AIB Group PLC	​	17,686	​	​	51,216
CRH PLC	​	13,734	​	​	494,775
Kerry Group PLC, Class A	​	2,825	​	​	245,703

See notes to financial statements.

92

Schedule of Investments — IQ Candriam ESG International Equity ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Ireland (continued)
Kingspan Group PLC	​	2,765	​	$	139,645
Smurfit Kappa Group PLC	​	4,677	​	​	154,760
Total Ireland	​	​	​	​	1,214,711
Israel — 0.6%
Bank Hapoalim BM	​	20,513	​	​	198,748
Bank Leumi Le-Israel BM	​	26,917	​	​	258,119
Israel Discount Bank Ltd., Class A	​	21,508	​	​	122,955
Mizrahi Tefahot Bank Ltd.	​	2,707	​	​	102,834
Nice Ltd.*	​	1,153	​	​	219,429
Plus500 Ltd.	​	1,665	​	​	34,602
Wix.com Ltd.*	​	1,002	​	​	84,268
Total Israel	​	​	​	​	1,020,955
Italy — 2.1%
Amplifon SpA	​	2,269	​	​	56,378
Assicurazioni Generali SpA	​	21,040	​	​	315,873
Banca Mediolanum SpA	​	3,898	​	​	29,202
DiaSorin SpA	​	162	​	​	21,183
Enel SpA	​	140,781	​	​	628,776
Eni SpA	​	44,227	​	​	579,354
FinecoBank Banca Fineco SpA	​	11,038	​	​	148,804
Intesa Sanpaolo SpA	​	326,023	​	​	621,570
Mediobanca Banca di Credito Finanziario SpA	​	11,299	​	​	102,427
Moncler SpA	​	3,560	​	​	153,724
Nexi SpA*	​	11,264	​	​	97,634
Pirelli & C SpA	​	7,016	​	​	26,475
Poste Italiane SpA	​	8,441	​	​	73,582
Prysmian SpA	​	4,634	​	​	151,094
Recordati Industria Chimica e Farmaceutica SpA	​	1,782	​	​	66,980
Telecom Italia SpA*	​	183,418	​	​	35,912
Telecom Italia SpA-RSP*	​	110,264	​	​	21,087
Terna — Rete Elettrica Nazionale	​	25,452	​	​	168,743
UniCredit SpA	​	37,440	​	​	464,323
Total Italy	​	​	​	​	3,763,121
Japan — 23.1%
Advantest Corp.	​	3,420	​	​	180,854
Aeon Co., Ltd.	​	13,176	​	​	246,128
Aeon Mall Co., Ltd.	​	1,691	​	​	18,396
Air Water, Inc.	​	3,437	​	​	38,455
Aisin Corp.	​	2,824	​	​	72,483
Ajinomoto Co., Inc.	​	9,623	​	​	265,185
Asahi Intecc Co., Ltd.	​	3,978	​	​	67,819
Astellas Pharma, Inc.	​	32,856	​	​	452,382
Azbil Corp.	​	2,350	​	​	63,954
Bridgestone Corp.	​	10,361	​	​	373,773
Brother Industries Ltd.	​	4,421	​	​	75,282
Canon, Inc.	​	18,224	​	​	386,709
Capcom Co., Ltd.	​	2,879	​	​	80,287
Central Japan Railway Co.	​	3,075	​	​	357,183
Chiba Bank Ltd. (The)	​	12,326	​	​	67,420
Chugai Pharmaceutical Co., Ltd.	​	11,458	​	​	265,954
Coca-Cola Bottlers Japan Holdings, Inc.	​	2,211	​	​	19,993
Concordia Financial Group Ltd.	​	19,313	​	​	58,861
CyberAgent, Inc.	​	7,534	​	​	62,042

​	Shares		Value
Common Stocks (continued)
Japan (continued)
Dai Nippon Printing Co., Ltd.	​	4,205	​	$	84,391
Daifuku Co., Ltd.	​	2,069	​	​	94,934
Daiichi Sankyo Co., Ltd.	​	34,216	​	​	1,097,371
Daikin Industries Ltd.	​	4,762	​	​	717,175
Daito Trust Construction Co., Ltd.	​	1,091	​	​	107,973
Daiwa House Industry Co., Ltd.	​	10,926	​	​	221,409
Daiwa House REIT Investment Corp.	​	39	​	​	78,716
Daiwa Securities Group, Inc.	​	24,454	​	​	95,424
Denso Corp.	​	7,759	​	​	385,771
Dentsu Group, Inc.	​	3,697	​	​	115,286
Disco Corp.	​	519	​	​	124,656
East Japan Railway Co.	​	6,164	​	​	333,425
Eisai Co., Ltd.	​	4,823	​	​	291,194
ENEOS Holdings, Inc.	​	55,437	​	​	182,683
FANUC Corp.	​	3,434	​	​	453,523
Fast Retailing Co., Ltd.	​	989	​	​	552,206
FUJIFILM Holdings Corp.	​	6,831	​	​	313,389
Fujitsu Ltd.	​	3,409	​	​	392,768
Hakuhodo DY Holdings, Inc.	​	4,005	​	​	33,843
Hankyu Hanshin Holdings, Inc.	​	4,166	​	​	123,745
Hitachi Construction Machinery Co., Ltd.	​	1,879	​	​	36,838
Hitachi Ltd.	​	17,079	​	​	776,762
Honda Motor Co., Ltd.	​	28,875	​	​	655,265
Hoshizaki Corp.	​	2,019	​	​	57,934
Hoya Corp.	​	6,504	​	​	607,145
Hulic Co., Ltd.	​	8,558	​	​	62,183
Ibiden Co., Ltd.	​	2,143	​	​	72,522
Idemitsu Kosan Co., Ltd.	​	3,691	​	​	80,706
Isetan Mitsukoshi Holdings Ltd.	​	6,043	​	​	53,667
Isuzu Motors Ltd.	​	10,604	​	​	124,421
Ito En Ltd.	​	1,003	​	​	35,427
ITOCHU Corp.	​	26,333	​	​	681,910
Itochu Techno-Solutions Corp.	​	1,576	​	​	36,581
J Front Retailing Co., Ltd.	​	4,472	​	​	36,165
Japan Exchange Group, Inc.	​	9,502	​	​	124,884
Japan Metropolitan Fund Invest	​	126	​	​	92,825
JFE Holdings, Inc.	​	8,969	​	​	82,247
JSR Corp.	​	3,534	​	​	67,382
JTEKT Corp.	​	4,151	​	​	29,324
Kajima Corp.	​	7,869	​	​	74,171
Kakaku.com, Inc.	​	2,317	​	​	39,299
Kansai Electric Power Co., Inc. (The)	​	13,313	​	​	100,944
Kansai Paint Co., Ltd.	​	3,931	​	​	51,308
Kao Corp.	​	8,427	​	​	316,930
KDDI Corp.	​	27,237	​	​	805,373
Keio Corp.	​	1,847	​	​	64,866
Keisei Electric Railway Co., Ltd.	​	2,617	​	​	69,547
Kikkoman Corp.	​	2,537	​	​	137,915
Kintetsu Group Holdings Co., Ltd.	​	3,064	​	​	103,690
Kobayashi Pharmaceutical Co., Ltd.	​	888	​	​	47,198
Koei Tecmo Holdings Co., Ltd.	​	1,998	​	​	30,218
Koito Manufacturing Co., Ltd.	​	4,492	​	​	63,889
Komatsu Ltd.	​	16,781	​	​	321,541
Kose Corp.	​	598	​	​	59,826
Kubota Corp.	​	21,137	​	​	295,294
Kuraray Co., Ltd.	​	5,818	​	​	40,043
Kurita Water Industries Ltd.	​	1,998	​	​	73,395

See notes to financial statements.

93​

Schedule of Investments — IQ Candriam ESG International Equity ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Japan (continued)
Kyocera Corp.	​	5,841	​	$	292,414
Kyowa Kirin Co., Ltd.	​	4,458	​	​	105,125
Kyushu Railway Co.	​	2,499	​	​	52,288
Lion Corp.	​	4,507	​	​	45,605
Lixil Corp.	​	5,060	​	​	76,631
Makita Corp.	​	4,438	​	​	81,215
Marubeni Corp.	​	30,072	​	​	263,624
Marui Group Co., Ltd.	​	3,346	​	​	55,243
Mazda Motor Corp.	​	10,633	​	​	71,752
McDonald’s Holdings Co. Japan Ltd.	​	1,559	​	​	54,122
MEIJI Holdings Co., Ltd.	​	2,246	​	​	92,478
Mitsubishi Chemical Group Corp.	​	24,135	​	​	109,134
Mitsubishi Corp.	​	24,303	​	​	659,100
Mitsubishi Estate Co., Ltd.	​	20,942	​	​	263,897
Mitsubishi Gas Chemical Co., Inc.	​	3,423	​	​	43,572
Mitsubishi HC Capital, Inc.	​	12,460	​	​	53,483
Mitsui Chemicals, Inc.	​	3,220	​	​	59,684
Mitsui Fudosan Co., Ltd.	​	15,749	​	​	301,926
Mitsui OSK Lines Ltd.	​	6,320	​	​	125,477
Miura Co., Ltd.	​	1,761	​	​	35,958
Mizuho Financial Group, Inc.	​	42,628	​	​	460,595
MonotaRO Co., Ltd.	​	4,442	​	​	67,780
MS&AD Insurance Group Holdings, Inc.	​	8,303	​	​	220,151
Nabtesco Corp.	​	1,953	​	​	41,587
NEC Corp.	​	4,532	​	​	150,167
Nexon Co., Ltd.	​	7,658	​	​	128,651
NGK Insulators Ltd.	​	5,491	​	​	64,170
NH Foods Ltd.	​	1,854	​	​	44,219
Nidec Corp.	​	8,935	​	​	495,217
Nihon M&A Center Holdings, Inc.	​	5,456	​	​	61,779
Nikon Corp.	​	5,635	​	​	54,555
Nintendo Co., Ltd.	​	20,723	​	​	846,292
Nippon Building Fund, Inc.	​	30	​	​	133,414
Nippon Prologis REIT, Inc.	​	41	​	​	85,925
Nippon Sanso Holdings Corp.	​	3,241	​	​	51,722
Nippon Shinyaku Co., Ltd.	​	1,143	​	​	63,365
Nippon Steel Corp.	​	15,497	​	​	212,955
Nippon Telegraph & Telephone Corp.	​	39,783	​	​	1,095,782
Nippon Yusen K.K.	​	8,847	​	​	160,649
Nissan Chemical Corp.	​	2,267	​	​	102,189
Nisshin Seifun Group, Inc.	​	4,353	​	​	47,093
Nissin Foods Holdings Co., Ltd.	​	1,173	​	​	75,998
Nitori Holdings Co., Ltd.	​	1,471	​	​	133,952
Nitto Denko Corp.	​	2,635	​	​	138,810
Nomura Holdings, Inc.	​	53,520	​	​	173,485
Nomura Real Estate Holdings, Inc.	​	2,017	​	​	45,664
Nomura Real Estate Master Fund, Inc.	​	81	​	​	92,371
Nomura Research Institute Ltd.	​	6,669	​	​	148,290
NSK Ltd.	​	8,321	​	​	44,002
NTT Data Corp.	​	11,353	​	​	164,755
Obayashi Corp.	​	11,274	​	​	72,437
Odakyu Electric Railway Co., Ltd.	​	6,214	​	​	73,957
Oji Holdings Corp.	​	15,482	​	​	53,747
Olympus Corp.	​	21,968	​	​	464,087
Omron Corp.	​	3,474	​	​	162,580
Ono Pharmaceutical Co., Ltd.	​	7,078	​	​	166,480
Oriental Land Co., Ltd.	​	3,595	​	​	482,526

​	Shares		Value
Common Stocks (continued)
Japan (continued)
ORIX Corp.	​	21,474	​	$	315,677
Orix JREIT, Inc.	​	50	​	​	67,111
Osaka Gas Co., Ltd.	​	7,252	​	​	107,437
Otsuka Holdings Co., Ltd.	​	7,263	​	​	232,889
Pan Pacific International Holdings Corp.	​	6,900	​	​	113,317
Panasonic Holdings Corp.	​	41,146	​	​	294,681
Persol Holdings Co., Ltd.	​	3,349	​	​	67,280
Pigeon Corp.	​	2,098	​	​	27,496
Pola Orbis Holdings, Inc.	​	1,503	​	​	16,634
Rakuten Group, Inc.	​	16,026	​	​	71,809
Recruit Holdings Co., Ltd.	​	25,073	​	​	774,280
Renesas Electronics Corp.*	​	20,597	​	​	172,733
Resona Holdings, Inc.	​	42,494	​	​	160,015
Ricoh Co., Ltd.	​	10,961	​	​	80,381
Rohm Co., Ltd.	​	1,544	​	​	108,761
Ryohin Keikaku Co., Ltd.	​	4,427	​	​	41,728
Santen Pharmaceutical Co., Ltd.	​	6,891	​	​	47,196
SCSK Corp.	​	2,617	​	​	38,682
Secom Co., Ltd.	​	3,752	​	​	214,339
Seiko Epson Corp.	​	5,354	​	​	72,979
Sekisui Chemical Co., Ltd.	​	7,096	​	​	88,798
Sekisui House Ltd.	​	10,754	​	​	179,071
SG Holdings Co., Ltd.	​	7,141	​	​	94,743
Sharp Corp.(c)	​	5,785	​	​	34,678
Shimano, Inc.	​	1,446	​	​	224,486
Shimizu Corp.	​	10,182	​	​	50,898
Shin-Etsu Chemical Co., Ltd.	​	7,300	​	​	763,225
Shionogi & Co., Ltd.	​	5,362	​	​	248,556
Shiseido Co., Ltd.	​	7,168	​	​	248,603
Showa Denko K.K.	​	3,253	​	​	47,536
SMC Corp.	​	1,110	​	​	448,974
Sohgo Security Services Co., Ltd.	​	1,332	​	​	33,247
Sompo Holdings, Inc.	​	5,636	​	​	234,829
Sony Group Corp.	​	22,363	​	​	1,502,753
Square Enix Holdings Co., Ltd.	​	1,628	​	​	72,728
Stanley Electric Co., Ltd.	​	2,674	​	​	45,480
Subaru Corp.	​	10,978	​	​	171,020
SUMCO Corp.	​	6,225	​	​	79,113
Sumitomo Chemical Co., Ltd.	​	28,499	​	​	96,061
Sumitomo Corp.	​	21,230	​	​	270,740
Sumitomo Electric Industries Ltd.	​	13,397	​	​	140,068
Sumitomo Metal Mining Co., Ltd.	​	4,364	​	​	122,786
Sumitomo Mitsui Financial Group, Inc.	​	21,829	​	​	612,860
Sumitomo Mitsui Trust Holdings, Inc.	​	5,660	​	​	162,868
Sumitomo Pharma Co., Ltd.	​	3,047	​	​	21,258
Sumitomo Rubber Industries Ltd.	​	3,239	​	​	27,806
Sundrug Co., Ltd.	​	1,237	​	​	28,796
Suntory Beverage & Food Ltd.	​	2,276	​	​	76,257
Sysmex Corp.	​	2,753	​	​	148,694
T&D Holdings, Inc.	​	9,217	​	​	90,970
Takeda Pharmaceutical Co., Ltd.	​	27,598	​	​	727,480
TDK Corp.	​	6,837	​	​	214,123
Teijin Ltd.	​	3,308	​	​	30,045
Terumo Corp.	​	12,920	​	​	393,246
TIS, Inc.	​	4,038	​	​	109,076
Tobu Railway Co., Ltd.	​	3,288	​	​	76,097

See notes to financial statements.

94

Schedule of Investments — IQ Candriam ESG International Equity ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Japan (continued)
Toho Gas Co., Ltd.	​	1,643	​	$	30,675
Tokio Marine Holdings, Inc.	​	33,168	​	​	600,498
Tokyo Century Corp.	​	687	​	​	23,434
Tokyo Electron Ltd.	​	2,700	​	​	717,348
Tokyu Corp.	​	9,621	​	​	111,075
TOPPAN, Inc.	​	4,833	​	​	72,153
TOTO Ltd.	​	2,802	​	​	80,119
Toyo Suisan Kaisha Ltd.	​	1,605	​	​	60,254
Toyota Motor Corp.	​	196,899	​	​	2,728,250
Tsuruha Holdings, Inc.	​	697	​	​	40,563
Unicharm Corp.	​	7,218	​	​	220,083
United Urban Investment Corp.	​	51	​	​	53,939
USS Co., Ltd.	​	3,401	​	​	51,415
Welcia Holdings Co., Ltd.	​	1,677	​	​	35,089
West Japan Railway Co.	​	3,968	​	​	157,535
Yakult Honsha Co., Ltd.	​	2,288	​	​	126,842
Yamaha Corp.	​	2,951	​	​	111,580
Yamaha Motor Co., Ltd.	​	5,476	​	​	113,105
Yamato Holdings Co., Ltd.	​	5,573	​	​	82,638
Yaskawa Electric Corp.	​	4,506	​	​	125,205
Yokohama Rubber Co., Ltd. (The)	​	2,417	​	​	37,856
ZOZO, Inc.	​	2,051	​	​	43,674
Total Japan	​	​	​	​	41,853,527
Mexico — 0.0%(a)
Fresnillo PLC	​	3,371	​	​	28,294
Netherlands — 6.3%
ABN AMRO Bank NV	​	8,067	​	​	79,379
Adyen NV*	​	474	​	​	680,509
Akzo Nobel NV	​	2,961	​	​	182,730
Argenx SE*	​	970	​	​	376,292
ASM International NV	​	814	​	​	180,855
ASML Holding NV	​	7,250	​	​	3,425,118
ING Groep NV	​	65,957	​	​	648,886
JDE Peet’s NV	​	1,747	​	​	50,038
Koninklijke Ahold Delhaize NV	​	18,329	​	​	511,760
Koninklijke DSM NV	​	3,107	​	​	366,346
Koninklijke KPN NV	​	58,273	​	​	163,048
NN Group NV	​	5,013	​	​	212,304
Randstad NV	​	2,006	​	​	100,004
Shell PLC	​	133,125	​	​	3,684,676
Universal Music Group NV	​	17,046	​	​	334,454
Wolters Kluwer NV	​	4,687	​	​	498,213
Total Netherlands	​	​	​	​	11,494,612
New Zealand — 0.4%
Auckland International Airport Ltd.*	​	21,815	​	​	97,585
Chorus Ltd.	​	8,152	​	​	39,355
Fisher & Paykel Healthcare Corp., Ltd.	​	10,397	​	​	118,266
Fletcher Building Ltd.	​	13,212	​	​	39,452
Mercury NZ Ltd.	​	11,471	​	​	38,785
Meridian Energy Ltd.	​	21,112	​	​	59,853
Ryman Healthcare Ltd.	​	6,737	​	​	32,798
Spark New Zealand Ltd.	​	33,488	​	​	99,609
Xero Ltd.*	​	2,385	​	​	119,064
Total New Zealand	​	​	​	​	644,767

​	Shares		Value
Common Stocks (continued)
Norway — 1.0%
Aker ASA, Class A	​	394	​	$	27,759
Austevoll Seafood ASA	​	1,581	​	​	11,694
DNB Bank ASA	​	15,961	​	​	282,473
Entra ASA	​	992	​	​	9,021
Equinor ASA	​	17,028	​	​	622,939
Gjensidige Forsikring ASA	​	3,395	​	​	62,010
Leroy Seafood Group ASA	​	5,156	​	​	23,705
Mowi ASA	​	7,355	​	​	109,686
NEL ASA*	​	28,442	​	​	34,756
Nordic Semiconductor ASA*	​	3,031	​	​	42,826
Norsk Hydro ASA	​	24,192	​	​	153,526
Orkla ASA	​	13,449	​	​	90,757
Schibsted ASA, Class A	​	1,328	​	​	20,450
Schibsted ASA, Class B	​	1,694	​	​	25,141
SpareBank 1 SR-Bank ASA	​	3,167	​	​	32,228
Storebrand ASA	​	8,326	​	​	64,706
Telenor ASA	​	11,593	​	​	105,372
TOMRA Systems ASA	​	4,223	​	​	68,246
Total Norway	​	​	​	​	1,787,295
Poland — 0.3%
Allegro.eu SA*	​	7,604	​	​	36,973
Bank Polska Kasa Opieki SA	​	3,226	​	​	53,035
CD Projekt SA	​	1,258	​	​	33,511
Dino Polska SA*	​	866	​	​	56,664
InPost SA*	​	3,733	​	​	23,841
KGHM Polska Miedz SA	​	2,502	​	​	50,162
mBank SA*	​	243	​	​	13,629
Polski Koncern Naftowy ORLEN SA	​	7,291	​	​	83,922
Polskie Gornictwo Naftowe I Gazownictwo SA*(b)	​	29,390	​	​	31,292
Powszechna Kasa Oszczednosci Bank Polski SA	​	16,136	​	​	88,165
Santander Bank Polska SA	​	611	​	​	32,552
Total Poland	​	​	​	​	503,746
Portugal — 0.2%
Banco Comercial Portugues SA, Class R	​	134,071	​	​	19,134
EDP — Energias de Portugal SA	​	50,149	​	​	219,324
Jeronimo Martins SGPS SA	​	4,994	​	​	103,553
Navigator Co. SA (The)	​	3,905	​	​	14,890
Total Portugal	​	​	​	​	356,901
Singapore — 1.8%
CapitaLand Ascendas REIT	​	62,291	​	​	115,329
CapitaLand Integrated Commercial Trust	​	95,010	​	​	126,223
Capitaland Investment Ltd/Singapore	​	91,104	​	​	193,784
City Developments Ltd.	​	9,396	​	​	50,662
DBS Group Holdings Ltd.	​	32,790	​	​	792,466
Keppel Corp., Ltd.	​	25,103	​	​	123,643
Mapletree Pan Asia Commercial Trust	​	36,903	​	​	41,464
Oversea-Chinese Banking Corp., Ltd.	​	69,252	​	​	593,617
Singapore Exchange Ltd.	​	14,665	​	​	87,258
Singapore Telecommunications Ltd.	​	142,454	​	​	251,668
STMicroelectronics NV	​	11,843	���	​	369,878

See notes to financial statements.

95​

Schedule of Investments — IQ Candriam ESG International Equity ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Singapore (continued)
Suntec Real Estate Investment Trust	​	30,695	​	$	27,981
United Overseas Bank Ltd.	​	25,832	​	​	506,746
UOL Group Ltd.	​	8,325	​	​	36,416
Total Singapore	​	​	​	​	3,317,135
South Africa — 0.3%
Anglo American PLC	​	20,552	​	​	617,235
Scatec ASA	​	2,079	​	​	14,717
Total South Africa	​	​	​	​	631,952
South Korea — 0.0%(a)
Delivery Hero SE*(c)	​	2,780	​	​	91,633
Spain — 2.3%
ACS Actividades de Construccion y Servicios SA	​	4,079	​	​	104,617
Amadeus IT Group SA*	​	8,141	​	​	424,353
Banco Bilbao Vizcaya Argentaria SA	​	107,131	​	​	551,543
Cellnex Telecom SA*	​	10,125	​	​	331,232
EDP Renovaveis SA	​	4,348	​	​	91,576
Ferrovial SA	​	8,636	​	​	210,909
Iberdrola SA	​	110,792	​	​	1,125,123
Industria de Diseno Textil SA(c)	​	19,986	​	​	453,136
Red Electrica Corp. SA	​	7,303	​	​	118,013
Repsol SA	​	23,184	​	​	314,951
Siemens Gamesa Renewable Energy SA*	​	4,110	​	​	72,955
Telefonica SA	​	92,062	​	​	317,097
Total Spain	​	​	​	​	4,115,505
Sweden — 2.6%
AAK AB	​	3,194	​	​	46,535
Alfa Laval AB	​	5,216	​	​	128,436
Assa Abloy AB, B Shares	​	17,590	​	​	354,969
Avanza Bank Holding AB	​	1,947	​	​	38,850
Axfood AB	​	2,022	​	​	50,026
Boliden AB	​	4,795	​	​	139,548
Castellum AB(c)	​	3,849	​	​	43,992
Electrolux AB, B Shares(c)	​	4,170	​	​	51,419
Elekta AB, B Shares	​	6,062	​	​	30,775
Embracer Group AB*(c)	​	14,260	​	​	68,613
Epiroc AB, A Shares	​	11,285	​	​	172,638
Epiroc AB, B Shares	​	6,821	​	​	91,570
EQT AB	​	6,309	​	​	124,234
Essity AB, B Shares	​	10,910	​	​	230,433
Fabege AB	​	4,772	​	​	34,625
H & M Hennes & Mauritz AB, B Shares(c)	​	13,020	​	​	131,019
Hexagon AB, B Shares	​	36,254	​	​	358,260
Holmen AB, B Shares	​	1,651	​	​	59,852
Husqvarna AB, B Shares	​	7,386	​	​	43,846
Investment AB Latour, B Shares(c)	​	2,472	​	​	41,776
Kinnevik AB, B Shares*	​	4,408	​	​	54,450
Nibe Industrier AB, B Shares	​	28,999	​	​	231,195
Samhallsbyggnadsbolaget i Norden AB(c)	​	18,084	​	​	24,842
Samhallsbyggnadsbolaget i Norden AB, D Shares(c)	​	2,681	​	​	4,406
Securitas AB, B Shares(c)	​	8,866	​	​	72,482

​	Shares		Value
Common Stocks (continued)
Sweden (continued)
Skandinaviska Enskilda Banken AB, A Shares	​	26,485	​	$	279,220
Skanska AB, B Shares	​	6,054	​	​	94,121
SSAB AB, A Shares	​	4,632	​	​	22,275
SSAB AB, B Shares(c)	​	11,167	​	​	51,881
Svenska Cellulosa AB SCA, B Shares	​	10,839	​	​	127,807
Svenska Handelsbanken AB, A Shares	​	25,866	​	​	240,275
Svenska Handelsbanken AB, B Shares(c)	​	636	​	​	6,953
Sweco AB, B Shares	​	3,694	​	​	27,746
Swedbank AB, A Shares	​	19,749	​	​	294,257
Tele2 AB, B Shares(c)	​	9,050	​	​	74,133
Telia Co. AB(c)	​	39,541	​	​	104,663
Thule Group AB	​	1,900	​	​	37,414
Trelleborg AB, B Shares	​	4,342	​	​	95,599
Vitrolife AB	​	1,407	​	​	22,740
Volvo AB, A Shares	​	3,478	​	​	59,360
Volvo AB, B Shares	​	26,485	​	​	433,330
Wallenstam AB, B Shares(c)	​	6,544	​	​	23,084
Total Sweden	​	​	​	​	4,623,649
Switzerland — 4.5%
Alcon, Inc.	​	8,864	​	​	539,767
Geberit AG	​	625	​	​	278,104
Givaudan SA	​	144	​	​	430,237
Kuehne + Nagel International AG	​	922	​	​	196,607
Lonza Group AG	​	1,344	​	​	692,179
Novartis AG	​	40,903	​	​	3,306,573
Partners Group Holding AG	​	397	​	​	356,794
Schindler Holding AG — Participating Certificate	​	736	​	​	120,062
Schindler Holding AG — Registered	​	355	​	​	55,906
SGS SA	​	110	​	​	242,808
Sika AG	​	2,779	​	​	627,028
Swisscom AG	​	459	​	​	226,714
Zurich Insurance Group AG	​	2,722	​	​	1,162,239
Total Switzerland	​	​	​	​	8,235,018
United Kingdom — 10.8%
3i Group PLC	​	17,300	​	​	231,151
abrdn PLC	​	39,875	​	​	72,997
Admiral Group PLC	​	4,374	​	​	101,576
Ashtead Group PLC	​	7,976	​	​	417,832
Associated British Foods PLC	​	6,506	​	​	101,086
AstraZeneca PLC	​	27,130	​	​	3,202,936
Auto Trader Group PLC	​	16,907	​	​	101,533
AVEVA Group PLC	​	2,017	​	​	72,455
Aviva PLC	​	50,157	​	​	241,444
Barratt Developments PLC	​	18,670	​	​	80,866
Berkeley Group Holdings PLC	​	1,909	​	​	76,290
BP PLC	​	315,173	​	​	1,741,063
British Land Co. PLC (The)	​	16,083	​	​	67,754
BT Group PLC	​	125,485	​	​	187,530
Bunzl PLC	​	6,103	​	​	199,627
Burberry Group PLC	​	7,191	​	​	150,270
CK Hutchison Holdings Ltd.	​	47,971	​	​	238,332
Coca-Cola Europacific Partners PLC	​	2,771	​	​	130,376
Compass Group PLC	​	32,106	​	​	678,863

See notes to financial statements.

96

Schedule of Investments — IQ Candriam ESG International Equity ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
United Kingdom (continued)
ConvaTec Group PLC	​	29,661	​	$	74,447
Croda International PLC	​	2,521	​	​	196,212
DCC PLC	​	1,726	​	​	96,181
Direct Line Insurance Group PLC	​	23,706	​	​	55,079
DS Smith PLC	​	24,886	​	​	83,149
Experian PLC	​	16,634	​	​	531,261
Farfetch Ltd., Class A*	​	5,832	​	​	49,455
Halma PLC	​	6,835	​	​	166,439
Hargreaves Lansdown PLC	​	6,432	​	​	56,518
Informa PLC	​	26,294	​	​	168,199
InterContinental Hotels Group PLC	​	3,198	​	​	172,907
Intermediate Capital Group PLC	​	5,282	​	​	64,584
Intertek Group PLC	​	2,910	​	​	122,424
ITV PLC	​	66,315	​	​	51,155
J Sainsbury PLC	​	36,591	​	​	81,898
Johnson Matthey PLC	​	3,311	​	​	73,745
Kingfisher PLC	​	36,002	​	​	90,736
Land Securities Group PLC	​	13,397	​	​	87,982
Legal & General Group PLC	​	108,032	​	​	289,686
Lloyds Banking Group PLC	​	1,243,224	​	​	601,465
London Stock Exchange Group PLC	​	6,621	​	​	576,760
M&G PLC	​	46,236	​	​	93,265
Melrose Industries PLC	​	75,891	​	​	102,143
National Grid PLC	​	66,116	​	​	721,944
NatWest Group PLC	​	89,486	​	​	241,913
Next PLC	​	2,250	​	​	127,687
Pearson PLC	​	13,323	​	​	147,319
Phoenix Group Holdings PLC	​	13,649	​	​	85,237
Reckitt Benckiser Group PLC	​	12,963	​	​	862,658
RELX PLC	​	34,807	​	​	938,152
Rentokil Initial PLC	​	33,682	​	​	211,116
Rightmove PLC	​	15,113	​	​	85,575
Sage Group PLC (The)	​	18,373	​	​	153,745
Schroders PLC	​	13,284	​	​	59,908
Segro PLC	​	21,823	​	​	197,237
Severn Trent PLC	​	4,564	​	​	131,526
Spirax-Sarco Engineering PLC	​	1,330	​	​	164,613
St James’s Place PLC	​	9,878	​	​	121,122
Taylor Wimpey PLC	​	62,121	​	​	67,074
Unilever PLC	​	45,370	​	​	2,076,139
United Utilities Group PLC	​	12,332	​	​	133,380
Vodafone Group PLC	​	506,849	​	​	593,128
Weir Group PLC (The)	​	4,744	​	​	83,159
Whitbread PLC	​	3,650	​	​	108,086
Wise PLC, Class A*	​	8,032	​	​	61,497
WPP PLC	​	19,728	​	​	173,987
Total United Kingdom	​	​	​	​	19,525,873
United States — 8.7%
Computershare Ltd.	​	9,626	​	​	155,546
CSL Ltd.	​	8,690	​	​	1,558,581
CyberArk Software Ltd.*	​	737	​	​	115,643
Ferguson PLC	​	3,871	​	​	423,847
GSK PLC	​	73,690	​	​	1,212,230
James Hardie Industries PLC	​	8,057	​	​	175,170

​	Shares		Value
Common Stocks (continued)
United States (continued)
Nestle SA	​	49,445	​	$	5,387,442
Roche Holding AG	​	477	​	​	193,612
Roche Holding AG	​	12,728	​	​	4,229,524
Schneider Electric SE	​	10,076	​	​	1,277,288
Sinch AB*(c)	​	10,547	​	​	24,811
Stellantis NV*	​	38,940	​	​	525,722
Swiss Re AG	​	5,216	​	​	387,780
Tenaris SA	​	8,429	​	​	130,835
Total United States	​	​	​	​	15,798,031
Total Common Stocks (Cost $201,393,152)	​	​	​	​	179,515,180
Preferred Stocks — 0.5%
Germany — 0.5%
Bayerische Motoren Werke AG, 7.74%	​	1,029	​	​	75,971
Henkel AG & Co. KGaA, 2.96%	​	3,117	​	​	196,486
Sartorius AG, 0.37%	​	488	​	​	172,234
Volkswagen AG, 5.79%	​	3,312	​	​	423,382
Total Germany	​	​	​	​	868,073
Total Preferred Stocks (Cost $1,141,182)	​	​	​	​	868,073
Short-Term Investments — 0.6%
Money Market Funds — 0.6%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.91%(d)(e)	​	958,587	​	​	958,587
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 3.09%(d)	​	186,701	​	​	186,701
Total Short-Term Investments (Cost $1,145,288)	​	​	​	​	1,145,288
Total Investments — 100.1% (Cost $203,679,622)	​	​	​	​	181,528,541
Other Assets and Liabilities, Net — (0.1)%	​	​	​	​	(315,627)
Net Assets — 100.0%	​	​	​	$	181,212,914

*

Non-income producing securities.

(a)

Less than 0.05%.

(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)

All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $1,169,902; total market value of collateral held by the Fund was $1,239,718. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of  $281,131.

(d)

Reflects the 1-day yield at October 31, 2022.

(e)

Represents security purchased with cash collateral received for securities on loan.

See notes to financial statements.

97​

Schedule of Investments — IQ Candriam ESG International Equity ETF (continued)

October 31, 2022 (unaudited)

The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2022. 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

​

$

179,472,437

​

$

—

​

$

42,743(g)

​

$

179,515,180

Preferred Stocks

​

​

868,073

​

​

—

​

​

—

​

​

868,073

Short-Term Investments:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Funds

​

​

1,145,288

​

​

—

​

​

—

​

​

1,145,288

Total Investments in Securities

​

$

181,485,798

​

$

—

​

$

42,743

​

$

181,528,541

(f)

For a complete listing of investments and their countries, see the Schedule of Investments.

(g)

The Level 3 securities, valued in total at $42,743, have 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.

See notes to financial statements.

98

Schedule of Investments — IQ Healthy Hearts ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks — 99.9%
Australia — 0.4%
Ramsay Health Care Ltd.	​	809	​	$	30,299
China — 0.5%
China Traditional Chinese Medicine Holdings Co., Ltd.	​	95,559	​	​	41,268
Denmark — 2.8%
Novo Nordisk A/S, Class B	​	1,985	​	​	215,852
France — 2.1%
Danone SA	​	779	​	​	38,758
Sanofi	​	1,391	​	​	120,060
Total France	​	​	​	​	158,818
Germany — 1.7%
adidas AG	​	261	​	​	25,533
Fresenius SE & Co. KGaA	​	1,601	​	​	36,869
Puma SE	​	640	​	​	28,344
Siemens Healthineers AG	​	820	​	​	37,750
Total Germany	​	​	​	​	128,496
Ireland — 0.5%
Glanbia PLC	​	3,093	​	​	35,736
Italy — 0.5%
Moncler SpA	​	871	​	​	37,610
Japan — 1.9%
Asahi Intecc Co., Ltd.	​	2,122	​	​	36,177
Asics Corp.	​	2,104	​	​	32,331
Nihon Kohden Corp.	​	1,733	​	​	38,884
Shimano, Inc.	​	220	​	​	34,154
Total Japan	​	​	​	​	141,546
Malaysia — 0.5%
IHH Healthcare Bhd	​	27,759	​	​	34,934
Netherlands — 0.3%
Basic-Fit NV*(a)	​	1,025	​	​	25,833
South Korea — 0.5%
Fila Holdings Corp.	​	1,689	​	​	38,773
Spain — 0.4%
Fluidra SA	​	2,474	​	​	33,572
Sweden — 1.0%
Getinge AB, B Shares	​	2,051	​	​	41,631
Thule Group AB	​	1,641	​	​	32,314
Total Sweden	​	​	​	​	73,945
Switzerland — 3.3%
Mediclinic International PLC	​	6,799	​	​	38,827
Novartis AG	​	2,622	​	​	211,961
Total Switzerland	​	​	​	​	250,788
Taiwan — 1.2%
Feng TAY Enterprise Co., Ltd.	​	6,895	​	​	34,344
Giant Manufacturing Co., Ltd.	​	4,757	​	​	30,338
Merida Industry Co., Ltd.	​	5,365	​	​	29,304
Total Taiwan	​	​	​	​	93,986

​	​	Shares		Value
Common Stocks (continued)
Thailand — 1.0%
Bangkok Dusit Medical Services PCL	��	​	50,920	​	$	39,468
Bumrungrad Hospital PCL	​	​	6,601	​	​	39,370
Total Thailand	​	​	​	​	​	78,838
United Kingdom — 5.0%
AstraZeneca PLC	​	​	2,969	​	​	350,517
Frasers Group PLC*	​	​	4,144	​	​	30,893
Total United Kingdom	​	​	​	​	​	381,410
United States — 76.3%
Abbott Laboratories	​	​	2,184	​	​	216,085
ABIOMED, Inc.*	​	​	154	​	​	38,820
Acadia Healthcare Co., Inc.*	​	​	479	​	​	38,943
Alphabet, Inc., Class A*	​	​	3,605	​	​	340,709
Apple, Inc.	​	​	2,431	​	​	372,770
Boston Scientific Corp.*	​	​	1,795	​	​	77,382
Bristol-Myers Squibb Co.	​	​	2,682	​	​	207,775
Centene Corp.*	​	​	712	​	​	60,613
Cytokinetics, Inc.*(a)	​	​	780	​	​	34,055
Edwards Lifesciences Corp.*	​	​	773	​	​	55,988
Elevance Health, Inc.	​	​	300	​	​	164,031
Eli Lilly & Co.	​	​	1,261	​	​	456,595
Encompass Health Corp.	​	​	813	​	​	44,260
Garmin Ltd.	​	​	433	​	​	38,121
General Mills, Inc.	​	​	747	​	​	60,940
Hanesbrands, Inc.(a)	​	​	4,378	​	​	29,858
HCA Healthcare, Inc.	​	​	270	​	​	58,717
Healthcare Services Group, Inc.(a)	​	​	2,803	​	​	39,130
Inari Medical, Inc.*(a)	​	​	553	​	​	42,542
Ionis Pharmaceuticals, Inc.*	​	​	939	​	​	41,504
Johnson & Johnson	​	​	2,422	​	​	421,355
Kellogg Co.	​	​	539	​	​	41,406
Lantheus Holdings, Inc.*	​	​	486	​	​	35,959
LivaNova PLC*	​	​	614	​	​	28,919
Medical Properties Trust, Inc.	​	​	2,644	​	​	30,274
Medifast, Inc.	​	​	295	​	​	34,512
Medtronic PLC	​	​	1,669	​	​	145,770
Merck & Co., Inc.	​	​	4,457	​	​	451,048
Merit Medical Systems, Inc.*	​	​	663	​	​	45,595
Molina Healthcare, Inc.*	​	​	118	​	​	42,345
Nestle SA	​	​	3,317	​	​	361,415
NIKE, Inc., Class B	​	​	1,569	​	​	145,415
Peloton Interactive, Inc., Class A*(a)	​	​	3,730	​	​	31,332
Pentair PLC	​	​	857	​	​	36,808
Penumbra, Inc.*	​	​	239	​	​	40,981
Pfizer, Inc.	​	​	8,497	​	​	395,535
Planet Fitness, Inc., Class A*	​	​	533	​	​	34,901
Pool Corp.	​	​	113	​	​	34,378
Select Medical Holdings Corp.	​	​	1,494	​	​	38,366
Shockwave Medical, Inc.*(a)	​	​	131	​	​	38,403
Tenet Healthcare Corp.*	​	​	659	​	​	29,233
Thermo Fisher Scientific, Inc.	​	​	706	​	​	362,863
Under Armour, Inc., Class A*	​	​	4,534	​	​	33,778
United Therapeutics Corp.*	​	​	185	​	​	42,648
UnitedHealth Group, Inc.	​	​	752	​	​	417,473
Vail Resorts, Inc.	​	​	174	​	​	38,129
VF Corp.	​	​	962	​	​	27,177

See notes to financial statements.

99​

Schedule of Investments — IQ Healthy Hearts ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
United States (continued)
YETI Holdings, Inc.*	​	1,039	​	$	33,331
Total United States	​	​	​	​	5,838,187
Total Common Stocks (Cost $7,815,827)	​	​	​	​	7,639,891
Short-Term Investment — 0.3%
Money Market Fund — 0.3%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.91%(b)(c) (Cost $25,172)	​	25,172	​	​	25,172
Total Investments — 100.2%
(Cost $7,840,999)	​	​	​	​	7,665,063
Other Assets and Liabilities, Net — (0.2)%	​	​	​	​	(17,261)
Net Assets — 100.0%	​	​	​	$	7,647,802

*

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 $212,623; total market value of collateral held by the Fund was $216,239. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $191,067.

(b)

Reflects the 1-day yield at October 31, 2022.

(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, 2022. 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

​

$

7,639,891

​

$

—

​

$

—

​

$

7,639,891

Short-Term Investment:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Fund

​

​

25,172

​

​

—

​

​

—

​

​

25,172

Total Investments in Securities

​

$

7,665,063

​

$

—

​

$

—

​

$

7,665,063

(d)

For a complete listing of investments and their countries, see the Schedule of Investments.

For the period ended October 31, 2022 the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy.

See notes to financial statements.

100

Schedule of Investments — IQ Engender Equality ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks — 99.8%
Communication Services — 8.3%
AT&T, Inc.	​	4,266	​	$	77,769
Match Group, Inc.*	​	1,290	​	​	55,728
Meta Platforms, Inc., Class A*	​	488	​	​	45,462
Omnicom Group, Inc.	​	1,066	​	​	77,552
Paramount Global, Class B(a)	​	3,142	​	​	57,561
Spotify Technology SA*	​	712	​	​	57,373
Verizon Communications, Inc.	​	1,731	​	​	64,688
Total Communication Services	​	​	​	​	436,133
Consumer Discretionary — 11.5%
eBay, Inc.	​	1,700	​	​	67,728
Etsy, Inc.*	​	661	​	​	62,075
Ford Motor Co.	​	4,852	​	​	64,871
General Motors Co.	​	1,787	​	​	70,140
Hilton Worldwide Holdings, Inc.	​	546	​	​	73,852
Marriott International, Inc., Class A	​	461	​	​	73,811
Starbucks Corp.	​	782	​	​	67,713
Under Armour, Inc., Class A*	​	8,553	​	​	63,720
Yum China Holdings, Inc.	​	1,435	​	​	59,337
Total Consumer Discretionary	​	​	​	​	603,247
Consumer Staples — 11.4%
Campbell Soup Co.	​	1,498	​	​	79,259
Coca-Cola Co. (The)	​	1,199	​	​	71,760
General Mills, Inc.	​	949	​	​	77,420
Hershey Co. (The)	​	325	​	​	77,600
J M Smucker Co. (The)	​	514	​	​	77,439
Kimberly-Clark Corp.	​	585	​	​	72,809
Mondelez International, Inc., Class A	​	1,184	​	​	72,792
Procter & Gamble Co. (The)	​	516	​	​	69,490
Total Consumer Staples	​	​	​	​	598,569
Financials — 16.8%
American Express Co.	​	467	​	​	69,326
Bank of America Corp.	​	2,093	​	​	75,432
BlackRock, Inc.	​	114	​	​	73,634
Citigroup, Inc.	​	1,484	​	​	68,056
Goldman Sachs Group, Inc. (The)	​	219	​	​	75,448
JPMorgan Chase & Co.	​	610	​	​	76,787
MetLife, Inc.	​	1,097	​	​	80,311
Moody’s Corp.	​	255	​	​	67,542
Raymond James Financial, Inc.	​	668	​	​	78,917
S&P Global, Inc.	​	206	​	​	66,177
Wells Fargo & Co.	​	1,625	​	​	74,734
Willis Towers Watson PLC	​	347	​	​	75,719
Total Financials	​	​	​	​	882,083
Health Care — 15.1%
Amgen, Inc.	​	309	​	​	83,538
Biogen, Inc.*	​	343	​	​	97,220
BioMarin Pharmaceutical, Inc.*	​	810	​	​	70,170
Boston Scientific Corp.*	​	1,713	​	​	73,847
Bristol-Myers Squibb Co.	​	999	​	​	77,393
Halozyme Therapeutics, Inc.*	​	1,702	​	​	81,373
Illumina, Inc.*	​	357	​	​	81,689
Merck & Co., Inc.	​	814	​	​	82,377
Vertex Pharmaceuticals, Inc.*	​	247	​	​	77,064

​	Shares		Value
Common Stocks (continued)
Health Care (continued)
Zoetis, Inc.	​	454	​	$	68,454
Total Health Care	​	​	​	​	793,125
Industrials — 7.6%
Cummins, Inc.	​	338	​	​	82,645
Lyft, Inc., Class A*	​	4,389	​	​	64,255
Robert Half International, Inc.	​	931	​	​	71,184
Sunrun, Inc.*	​	1,925	​	​	43,332
Uber Technologies, Inc.*	​	2,237	​	​	59,437
Xylem, Inc.	​	766	​	​	78,461
Total Industrials	​	​	​	​	399,314
Information Technology — 17.0%
Accenture PLC, Class A	​	262	​	​	74,382
Adobe, Inc.*	​	238	​	​	75,803
Autodesk, Inc.*	​	366	​	​	78,434
Automatic Data Processing, Inc.	​	306	​	​	73,960
Dropbox, Inc., Class A*	​	3,291	​	​	71,579
Intel Corp.	​	2,442	​	​	69,426
International Business Machines Corp.	​	561	​	​	77,581
Intuit, Inc.	​	169	​	​	72,247
Mastercard, Inc., Class A	​	227	​	​	74,497
Salesforce, Inc.*	​	471	​	​	76,580
Visa, Inc., Class A(a)	​	369	​	​	76,442
VMware, Inc., Class A	​	635	​	​	71,457
Total Information Technology	​	​	​	​	892,388
Materials — 6.8%
Dow, Inc.	​	1,538	​	​	71,886
DuPont de Nemours, Inc.	​	1,323	​	​	75,675
Ecolab, Inc.	​	453	​	​	71,153
International Flavors & Fragrances, Inc.	​	697	​	​	68,034
Newmont Corp.	​	1,634	​	​	69,151
Total Materials	​	​	​	​	355,899
Real Estate — 3.9%
STORE Capital Corp.	​	2,239	​	​	71,200
VICI Properties, Inc.	​	2,137	​	​	68,427
Zillow Group, Inc., Class C*	​	2,091	​	​	64,528
Total Real Estate	​	​	​	​	204,155
Utilities — 1.4%
American Water Works Co., Inc.	​	481	​	​	69,908
Total Common Stocks (Cost $5,741,520)	​	​	​	​	5,234,821
Short-Term Investment — 0.1%
Money Market Fund — 0.1%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 3.09%(b) (Cost $6,803)	​	6,803	​	​	6,803
Total Investments — 99.9%
(Cost $5,748,323)	​	​	​	​	5,241,624
Other Assets and Liabilities, Net — 0.1%	​	​	​	​	2,588
Net Assets — 100.0%	​	​	​	$	5,244,212

See notes to financial statements.

101​

Schedule of Investments — IQ Engender Equality ETF (continued)

October 31, 2022 (unaudited)

*

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 $115,500; total market value of collateral held consisted of non-cash U.S. Treasury securities collateral having a value of $120,608.

(b)

Reflects the 1-day yield at October 31, 2022.

The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2022. 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

​

$

5,234,821

​

$

—

​

$

—

​

$

5,234,821

Short-Term Investment:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Fund

​

​

6,803

​

​

—

​

​

—

​

​

6,803

Total Investments in Securities

​

$

5,241,624

​

$

—

​

$

—

​

$

5,241,624

(c)

For a complete listing of investments and their industries, see the Schedule of Investments.

For the period ended October 31, 2022 the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy.

See notes to financial statements.

102

Schedule of Investments — IQ Cleaner Transport ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks — 96.8%
Belgium — 0.5%
Umicore SA	​	643	​	$	21,194
Canada — 0.2%
Ballard Power Systems, Inc.*	​	1,544	​	​	8,738
China — 9.3%
BYD Co., Ltd., Class H	​	4,375	​	​	97,924
COSCO SHIPPING Holdings Co., Ltd., Class H	​	62,568	​	​	67,511
Flat Glass Group Co., Ltd., Class H	​	11,105	​	​	26,002
Li Auto, Inc.*	​	1,785	​	​	24,312
NXP Semiconductors NV	​	839	​	​	122,561
Xinjiang Goldwind Science & Technology Co., Ltd., Class H	​	16,296	​	​	14,137
Xinyi Solar Holdings Ltd.	​	14,534	​	​	14,423
XPeng, Inc.*	​	1,927	​	​	12,757
Zhuzhou CRRC Times Electric Co., Ltd.	​	6,451	​	​	27,982
Total China	​	​	​	​	407,609
Denmark — 3.1%
AP Moller — Maersk A/S, Class B	​	34	​	​	71,137
Vestas Wind Systems A/S	​	3,219	​	​	63,418
Total Denmark	​	​	​	​	134,555
Finland — 0.2%
Wartsila OYJ Abp	​	1,481	​	​	10,100
France — 4.2%
Alstom SA	​	1,187	​	​	24,472
Cie Generale des Etablissements Michelin SCA	​	2,147	​	​	54,768
Faurecia SE*	​	881	​	​	13,165
Getlink SE	​	1,366	​	​	21,642
Legrand SA	​	807	​	​	61,527
Valeo	​	665	​	​	10,970
Total France	​	​	​	​	186,544
Germany — 12.0%
Bayerische Motoren Werke AG	​	1,128	​	​	88,653
Continental AG	​	346	​	​	17,946
Infineon Technologies AG	​	4,148	​	​	101,016
Knorr-Bremse AG	​	255	​	​	11,482
Mercedes-Benz Group AG	​	2,420	​	​	140,160
Nordex SE*	​	1,230	​	​	11,498
Siemens AG	​	1,433	​	​	156,700
Total Germany	​	​	​	​	527,455
Hong Kong — 0.5%
MTR Corp., Ltd.	​	5,034	​	​	22,156
Japan — 11.3%
Aisin Corp.	​	408	​	​	10,472
Central Japan Railway Co.	​	364	​	​	42,281
Denso Corp.	​	1,013	​	​	50,366
East Japan Railway Co.	​	790	​	​	42,733
Honda Motor Co., Ltd.	​	3,786	​	​	85,916
Koito Manufacturing Co., Ltd.	​	734	​	​	10,440
Panasonic Holdings Corp.	​	5,522	​	​	39,548
Shimano, Inc.	​	176	​	​	27,323

​	Shares		Value
Common Stocks (continued)
Japan (continued)
Sumitomo Electric Industries Ltd.	​	1,787	​	$	18,683
TDK Corp.	​	750	​	​	23,489
Toyota Motor Corp.	​	9,621	​	​	133,309
Yamaha Motor Co., Ltd.	​	586	​	​	12,104
Total Japan	​	​	​	​	496,664
Portugal — 0.8%
EDP — Energias de Portugal SA	​	8,383	​	​	36,663
Singapore — 1.5%
STMicroelectronics NV	​	2,101	​	​	65,618
South Korea — 2.0%
Samsung SDI Co., Ltd.	​	167	​	​	86,405
Spain — 4.0%
EDP Renovaveis SA	​	770	​	​	16,218
Iberdrola SA	​	13,501	​	​	137,106
Siemens Gamesa Renewable Energy SA*	​	689	​	​	12,230
Solaria Energia y Medio Ambiente SA*	​	528	​	​	8,350
Total Spain	​	​	​	​	173,904
Sweden — 2.5%
Thule Group AB	​	513	​	​	10,102
Volvo AB, B Shares	​	6,181	​	​	101,129
Total Sweden	​	​	​	​	111,231
Switzerland — 0.3%
Stadler Rail AG	​	412	​	​	12,145
Taiwan — 2.4%
Compal Electronics, Inc.	​	16,265	​	​	10,651
Delta Electronics, Inc.	​	6,186	​	​	49,434
Evergreen Marine Corp Taiwan Ltd.	​	4,943	​	​	21,093
Giant Manufacturing Co., Ltd.	​	1,487	​	​	9,483
Yang Ming Marine Transport Corp.	​	7,322	​	​	13,679
Total Taiwan	​	​	​	​	104,340
United Kingdom — 0.4%
ITM Power PLC*(a)	​	5,059	​	​	4,814
National Express Group PLC*	​	6,185	​	​	12,049
Total United Kingdom	​	​	​	​	16,863
United States — 41.6%
Advanced Micro Devices, Inc.*	​	1,620	​	​	97,297
Alphabet, Inc., Class A*	​	1,339	​	​	126,549
Apple, Inc.	​	903	​	​	138,466
Aptiv PLC*	​	864	​	​	78,684
Bloom Energy Corp., Class A*	​	470	​	​	8,794
BorgWarner, Inc.	​	755	​	​	28,335
Brookfield Renewable Corp., Class A	​	552	​	​	17,129
CSX Corp.	​	4,528	​	​	131,584
Eaton Corp. PLC	​	1,047	​	​	157,123
Edison International	​	1,221	​	​	73,309
Enphase Energy, Inc.*	​	425	​	​	130,475
First Solar, Inc.*	​	305	​	​	44,399
FuelCell Energy, Inc.*	​	2,931	​	​	9,145
Intel Corp.	​	4,429	​	​	125,916

See notes to financial statements.

103​

Schedule of Investments — IQ Cleaner Transport ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
United States (continued)
Itron, Inc.*	​	252	​	$	12,320
NVIDIA Corp.	​	909	​	​	122,688
Plug Power, Inc.*	​	1,658	​	​	26,495
Schneider Electric SE	​	1,183	​	​	149,964
SolarEdge Technologies, Inc.*	​	176	​	​	40,485
Tesla, Inc.*	​	513	​	​	116,728
Texas Instruments, Inc.	​	872	​	​	140,069
Westinghouse Air Brake Technologies Corp.	​	557	​	​	51,957
Total United States	​	​	​	​	1,827,911
Total Common Stocks	​	​	​	​	​
(Cost $5,649,643)	​	​	​	​	4,250,095
Preferred Stock — 3.1%
Germany — 3.1%
Volkswagen AG, 5.79%	​	​	​	​	​
(Cost $208,938)	​	1,047	​	​	133,841
Short-Term Investment — 0.1%
Money Market Fund — 0.1%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.91%(b)(c) (Cost $4,710)	​	4,710	​	​	4,710

​	Shares	Value
Total Investments — 100.0% (Cost $5,863,291)	​	​	$	4,388,646
Other Assets and Liabilities, Net — (0.0)%(d)	​	​	​	1,648
Net Assets — 100.0%	​	​	$	4,390,294

*

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 $4,574; total market value of collateral held by the Fund was $4,710.

(b)

Reflects the 1-day yield at October 31, 2022.

(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, 2022. 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

​

$

4,250,095

​

$

—

​

$

—

​

$

4,250,095

Preferred Stock

​

​

133,841

​

​

—

​

​

—

​

​

133,841

Short-Term Investment:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Fund

​

​

4,710

​

​

—

​

​

—

​

​

4,710

Total Investments in Securities

​

$

4,388,646

​

$

—

​

$

—

​

$

4,388,646

(e)

For a complete listing of investments and their countries, see the Schedule of Investments.

For the period ended October 31, 2022 the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy.

See notes to financial statements.

104

Schedule of Investments — IQ Clean Oceans ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks — 96.9%
Austria — 2.1%
ANDRITZ AG	​	261	​	$	12,140
Mondi PLC	​	2,257	​	​	38,004
Verbund AG	​	558	​	​	43,706
Total Austria	​	​	​	​	93,850
Canada — 0.2%
Ballard Power Systems, Inc.*	​	1,524	​	​	8,625
China — 3.5%
NXP Semiconductors NV	​	872	​	​	127,382
SITC International Holdings Co., Ltd.	​	4,212	​	​	6,900
Xinjiang Goldwind Science & Technology Co., Ltd., Class H	​	23,825	​	​	20,669
Total China	​	​	​	​	154,951
Denmark — 7.0%
AP Moller — Maersk A/S, Class B	​	50	​	​	104,613
Chr Hansen Holding A/S	​	481	​	​	26,718
Dfds A/S	​	345	​	​	10,479
Orsted A/S	​	883	​	​	72,843
Vestas Wind Systems A/S	​	4,707	​	​	92,733
Total Denmark	​	​	​	​	307,386
Faroe Islands — 0.2%
Bakkafrost P/F	​	203	​	​	10,143
Finland — 0.2%
Wartsila OYJ Abp	​	1,461	​	​	9,964
France — 4.9%
Dassault Systemes SE	​	3,114	​	​	104,488
Legrand SA	​	1,180	​	​	89,965
Neoen SA	​	283	​	​	9,879
Societe BIC SA	​	211	​	​	12,116
Total France	​	​	​	​	216,448
Germany — 6.5%
adidas AG	​	763	​	​	74,642
Encavis AG	​	517	​	​	9,632
Hapag-Lloyd AG(a)	​	45	​	​	8,135
Nordex SE*	​	1,214	​	​	11,348
Siemens AG	​	1,422	​	​	155,497
Zalando SE*	​	1,110	​	​	25,594
Total Germany	​	​	​	​	284,848
Ireland — 1.7%
Kingspan Group PLC	​	714	​	​	36,060
Smurfit Kappa Group PLC	​	1,210	​	​	40,039
Total Ireland	​	​	​	​	76,099
Italy — 0.2%
ERG SpA	​	352	​	​	11,042
Japan — 3.8%
Azbil Corp.	​	417	​	​	11,348
Kao Corp.	​	1,563	​	​	58,783
Kurita Water Industries Ltd.	​	297	​	​	10,910
Nippon Yusen K.K.	​	1,800	​	​	32,686
Nitto Denko Corp.	​	458	​	​	24,127
TOTO Ltd.	​	340	​	​	9,722

​	Shares			Value
Common Stocks (continued)
Japan (continued)
Yaskawa Electric Corp.	​	752	​	​	$	20,895
Total Japan	​	​	​	​	​	168,471
Netherlands — 2.2%
Koninklijke DSM NV	​	808	​	​	​	95,271
Norway — 0.2%
Leroy Seafood Group ASA	​	1,804	​	​	​	8,294
Portugal — 1.2%
EDP — Energias de Portugal SA	​	12,257	​	​	​	53,605
Singapore — 2.2%
STMicroelectronics NV	​	3,072	​	​	​	95,944
South Korea — 0.7%
LG Electronics, Inc.	​	532	​	​	​	30,476
Spain — 4.1%
EDP Renovaveis SA	​	1,126	​	​	​	23,715
Iberdrola SA	​	13,392	​	​	​	135,999
Siemens Gamesa Renewable Energy SA*	​	680	​	​	​	12,071
Solaria Energia y Medio Ambiente SA*	​	521	​	​	​	8,239
Total Spain	​	​	​	​	​	180,024
Sweden — 1.4%
Essity AB, B Shares	​	3,001	​	​	​	63,385
Switzerland — 3.1%
Givaudan SA*	​	36	​	​	​	107,560
SIG Group AG*	​	1,543	​	​	​	29,665
Total Switzerland	​	​	​	​	​	137,225
Taiwan — 0.5%
Yang Ming Marine Transport Corp.	​	10,705	​	​	​	20,000
United Kingdom — 8.0%
Biffa PLC	​	2,668	​	​	​	12,637
Burberry Group PLC	​	1,829	​	​	​	38,220
DS Smith PLC	​	3,973	​	​	​	13,275
Kingfisher PLC	​	9,133	​	​	​	23,018
Pennon Group PLC	​	1,111	​	​	​	10,713
Severn Trent PLC	​	1,175	​	​	​	33,861
Spirax-Sarco Engineering PLC	​	341	​	​	​	42,205
Unilever PLC	​	3,158	​	​	​	144,511
United Utilities Group PLC	​	3,193	​	​	​	34,535
Total United Kingdom	​	​	​	​	​	352,975
United States — 43.0%
American Water Works Co., Inc.	​	849	​	​	​	123,394
Analog Devices, Inc.	​	924	​	​	​	131,781
Avangrid, Inc.	​	244	​	​	​	9,926
Badger Meter, Inc.	​	126	​	​	​	14,172
Ball Corp.	​	1,465	​	​	​	72,356
Crown Holdings, Inc.	​	560	​	​	​	38,410
Ecolab, Inc.	​	887	���	​	​	139,321
Enphase Energy, Inc.*	​	508	​	​	​	155,956
First Solar, Inc.*	​	448	​	​	​	65,215
Graphic Packaging Holding Co.	​	1,433	​	​	​	32,902
Intel Corp.	​	4,393	​	​	​	124,893
Microsoft Corp.	​	547	​	​	​	126,975

See notes to financial statements.

105​

Schedule of Investments — IQ Clean Oceans ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
United States (continued)
NIKE, Inc., Class B	​	1,353	​	$	125,396
O-I Glass, Inc.*	​	899	​	​	14,663
Ormat Technologies, Inc.	​	262	​	​	23,698
Rockwell Automation, Inc.	​	542	​	​	138,373
Schneider Electric SE	​	1,173	​	​	148,696
Skyworks Solutions, Inc.	​	753	​	​	64,766
SolarEdge Technologies, Inc.*	​	259	​	​	59,578
Sunrun, Inc.*	​	940	​	​	21,159
Texas Instruments, Inc.	​	865	​	​	138,945
WillScot Mobile Mini Holdings Corp.*	​	976	​	​	41,509
Xylem, Inc.	​	838	​	​	85,836
Total United States	​	​	​	​	1,897,920
Total Common Stocks (Cost $5,366,110)	​	​	​	​	4,276,946
Preferred Stock — 2.9%
Germany — 2.9%
Henkel AG & Co. KGaA, 2.96%	​		​
(Cost $152,873)	​	1,988	​	​	125,317
Short-Term Investments — 0.2%
Money Market Funds — 0.2%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.91%(b)(c)	​	5,800	​	​	5,800

​	Shares		Value
Short-Term Investments (continued)
Money Market Funds (continued)
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 3.09%(b)	​	2,785	​	$	2,785
Total Short-Term Investments (Cost $8,585)	​	​	​	​	8,585
Total Investments — 100.0%
(Cost $5,527,568)	​	​	​	​	4,410,848
Other Assets and Liabilities, Net — 0.0%(d)	​	​	​	​	1,805
Net Assets — 100.0%	​	​	​	$	4,412,653

*

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 $5,604; total market value of collateral held by the Fund was $5,800.

(b)

Reflects the 1-day yield at October 31, 2022.

(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, 2022. 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

​

$

4,276,946

​

$

—

​

$

—

​

$

4,276,946

Preferred Stock

​

​

125,317

​

​

—

​

​

—

​

​

125,317

Short-Term Investments:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Funds

​

​

8,585

​

​

—

​

​

—

​

​

8,585

Total Investments in Securities

​

$

4,410,848

​

$

—

​

$

—

​

$

4,410,848

(e)

For a complete listing of investments and their countries, see the Schedule of Investments.

For the period ended October 31, 2022 the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy.

See notes to financial statements.

106

Schedule of Investments — IQ Global Equity R&D Leaders ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks — 98.2%
Belgium — 0.3%
UCB SA	​	140	​	$	10,560
China — 6.0%
Alibaba Group Holding Ltd.*	​	4,020	​	​	31,469
Baidu, Inc., Class A*	​	1,280	​	​	12,246
BeiGene Ltd.*	​	632	​	​	7,971
BYD Co., Ltd., Class H	​	290	​	​	6,491
China Energy Engineering Corp. Ltd., Class H	​	54,770	​	​	5,512
China Petroleum & Chemical Corp., Class H	​	20,630	​	​	8,147
China Railway Group Ltd., Class H	​	38,304	​	​	16,639
Haier Smart Home Co., Ltd., Class H	​	2,258	​	​	5,649
JD.com, Inc., Class A	​	457	​	​	8,447
Kuaishou Technology*	​	1,617	​	​	6,653
Lenovo Group Ltd.	​	13,873	​	​	11,099
Meituan, Class B*	​	694	​	​	11,033
Metallurgical Corp of China Ltd., Class H	​	73,938	​	​	11,774
NetEase, Inc.	​	686	​	​	7,481
NXP Semiconductors NV	​	65	​	​	9,495
PetroChina Co., Ltd., Class H	​	30,361	​	​	11,603
Tencent Holdings Ltd.	​	1,221	​	​	31,980
Weichai Power Co., Ltd., Class H	​	4,266	​	​	4,087
Xiaomi Corp., Class B*	​	8,714	​	​	9,780
ZTE Corp., Class H	​	6,435	​	​	11,477
Total China	​	​	​	​	229,033
Denmark — 0.5%
Novo Nordisk A/S, Class B	​	155	​	​	16,855
Finland — 0.6%
Nokia OYJ	​	5,308	​	​	23,644
France — 2.3%
Airbus SE	​	172	​	​	18,628
Dassault Systemes SE	​	159	​	​	5,335
L’Oreal SA	​	18	​	​	5,659
Renault SA*	​	205	​	​	6,315
Sanofi	​	434	​	​	37,460
Thales SA	​	51	​	​	6,485
Valeo	​	376	​	​	6,202
Total France	​	​	​	​	86,084
Germany — 7.1%
BASF SE	​	319	​	​	14,325
Bayer AG	​	653	​	​	34,348
Bayerische Motoren Werke AG	​	519	​	​	40,790
Continental AG	​	391	​	​	20,281
Daimler Truck Holding AG*	​	337	​	​	8,993
Infineon Technologies AG	​	404	​	​	9,839
Mercedes-Benz Group AG	​	534	​	​	30,928
Merck KGaA	​	84	​	​	13,698
SAP SE	​	386	​	​	37,261
Siemens AG	​	314	​	​	34,336
Siemens Energy AG	​	520	​	​	6,072
Siemens Healthineers AG	​	228	​	​	10,496
Traton SE	​	675	​	​	8,426
Total Germany	​	​	​	​	269,793

​	Shares		Value
Common Stocks (continued)
Israel — 0.1%
Teva Pharmaceutical Industries Ltd.*	​	524	​	$	4,708
Italy — 0.4%
Leonardo SpA	​	1,182	​	​	9,500
Telecom Italia SpA*	​	35,407	​	​	6,933
Total Italy	​	​	​	​	16,433
Japan — 9.6%
Aisin Corp.	​	314	​	​	8,059
Astellas Pharma, Inc.	​	826	​	​	11,373
Canon, Inc.	​	553	​	​	11,735
Chugai Pharmaceutical Co., Ltd.	​	242	​	​	5,617
Daiichi Sankyo Co., Ltd.	​	412	​	​	13,214
Denso Corp.	​	427	​	​	21,230
Eisai Co., Ltd.	​	175	​	​	10,566
FUJIFILM Holdings Corp.	​	136	​	​	6,239
Hitachi Ltd.	​	296	​	​	13,462
Honda Motor Co., Ltd.	​	1,405	​	​	31,884
Isuzu Motors Ltd.	​	399	​	​	4,682
Mitsubishi Chemical Group Corp.	​	1,404	​	​	6,349
Mitsubishi Electric Corp.	​	907	​	​	7,994
Murata Manufacturing Co., Ltd.	​	96	​	​	4,715
NEC Corp.	​	163	​	​	5,401
Nippon Telegraph & Telephone Corp.	​	410	​	​	11,293
Nissan Motor Co., Ltd.	​	4,421	​	​	14,111
Otsuka Holdings Co., Ltd.	​	351	​	​	11,255
Panasonic Holdings Corp.	​	1,855	​	​	13,285
Renesas Electronics Corp.*	​	881	​	​	7,388
SoftBank Group Corp.	​	232	​	​	9,990
Sony Group Corp.	​	385	​	​	25,871
Sumitomo Chemical Co., Ltd.	​	2,062	​	​	6,950
Sumitomo Electric Industries Ltd.	​	483	​	​	5,050
Suzuki Motor Corp.	​	212	​	​	7,160
Takeda Pharmaceutical Co., Ltd.	​	879	​	​	23,170
TDK Corp.	​	212	​	​	6,640
Tokyo Electron Ltd.	​	25	​	​	6,642
Toshiba Corp.	​	193	​	​	6,727
Toyota Motor Corp.	​	3,541	​	​	49,064
Total Japan	​	​	​	​	367,116
Netherlands — 0.6%
ASML Holding NV	​	34	​	​	16,063
Koninklijke Philips NV	​	603	​	​	7,639
Total Netherlands	​	​	​	​	23,702
Singapore — 0.2%
STMicroelectronics NV	​	229	​	​	7,152
South Korea — 4.1%
Hyundai Mobis Co., Ltd.	​	36	​	​	5,535
Hyundai Motor Co.	​	57	​	​	6,583
Kia Corp.	​	99	​	​	4,608
LG Display Co., Ltd.	​	521	​	​	4,663
LG Electronics, Inc.	​	207	​	​	11,858
NAVER Corp.	​	45	​	​	5,355
Samsung Electronics Co., Ltd.	​	2,475	​	​	103,208
SK Hynix, Inc.	​	264	​	​	15,327
Total South Korea	​	​	​	​	157,137

See notes to financial statements.

107​

Schedule of Investments — IQ Global Equity R&D Leaders ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Spain — 0.1%
Telefonica SA	​	1,306	​	$	4,498
Sweden — 0.8%
Telefonaktiebolaget LM Ericsson, B Shares	​	3,643	​	​	20,242
Volvo AB, B Shares	​	684	​	​	11,191
Total Sweden	​	​	​	​	31,433
Switzerland — 1.4%
ABB Ltd.	​	224	​	​	6,231
Accelleron Industries AG*	​	11	​	​	187
Novartis AG	​	590	​	​	47,695
Total Switzerland	​	​	​	​	54,113
Taiwan �� 1.7%
Delta Electronics, Inc.	​	562	​	​	4,491
Hon Hai Precision Industry Co., Ltd.	​	5,536	​	​	17,610
MediaTek, Inc.	​	1,023	​	​	18,732
Realtek Semiconductor Corp.	​	557	​	​	4,408
Taiwan Semiconductor Manufacturing Co., Ltd.	​	1,648	​	​	19,946
Total Taiwan	​	​	​	​	65,187
United Kingdom — 1.4%
AstraZeneca PLC	​	408	​	​	48,168
Unilever PLC	​	114	​	​	5,217
Total United Kingdom	​	​	​	​	53,385
United States — 61.0%
3M Co.	​	83	​	​	10,441
Abbott Laboratories	​	138	​	​	13,654
AbbVie, Inc.	​	233	​	​	34,111
Activision Blizzard, Inc.	​	88	​	​	6,406
Adobe, Inc.*	​	48	​	​	15,288
Advanced Micro Devices, Inc.*	​	261	​	​	15,676
Airbnb, Inc., Class A*	​	62	​	​	6,628
Alphabet, Inc., Class A*	​	1,742	​	​	164,636
Amazon.com, Inc.*	​	1,883	​	​	192,895
Amgen, Inc.	​	106	​	​	28,657
Analog Devices, Inc.	​	57	​	​	8,129
Apple, Inc.	​	849	​	​	130,186
Applied Materials, Inc.	​	152	​	​	13,420
Aptiv PLC*	​	56	​	​	5,100
AT&T, Inc.	​	465	​	​	8,477
Atlassian Corp., Class A*	​	29	​	​	5,879
Autodesk, Inc.*	​	30	​	​	6,429
Becton Dickinson and Co.	​	28	​	​	6,607
Biogen, Inc.*	​	54	​	​	15,306
Block, Inc.*	​	134	​	​	8,049
Boeing Co. (The)*	​	92	​	​	13,111
Boston Scientific Corp.*	​	157	​	​	6,768
Bristol-Myers Squibb Co.	​	744	​	​	57,638
Broadcom, Inc.	​	50	​	​	23,506
Cadence Design Systems, Inc.*	​	36	​	​	5,450
Caterpillar, Inc.	​	51	​	​	11,039
Cisco Systems, Inc.	​	800	​	​	36,344
Corning, Inc.	​	161	​	​	5,179
Corteva, Inc.	​	98	​	​	6,403
CSL Ltd.	​	31	​	​	5,560

​	​	Shares		Value
Common Stocks (continued)
United States (continued)
Cummins, Inc.	​	​	28	​	$	6,846
Danaher Corp.	​	​	33	​	​	8,305
Deere & Co.	​	​	26	​	​	10,291
Dell Technologies, Inc., Class C	​	​	445	​	​	17,088
eBay, Inc.	​	​	160	​	​	6,374
Edwards Lifesciences Corp.*	​	​	52	​	​	3,766
Electronic Arts, Inc.	​	​	95	​	​	11,966
Eli Lilly & Co.	​	​	117	​	​	42,365
Expedia Group, Inc.*	​	​	55	​	​	5,141
Ford Motor Co.	​	​	2,641	​	​	35,310
General Electric Co.	​	​	206	​	​	16,029
General Motors Co.	​	​	1,011	​	​	39,682
Gilead Sciences, Inc.	​	​	425	​	​	33,346
GSK PLC	​	​	2,406	​	​	39,580
Hewlett Packard Enterprise Co.	​	​	788	​	​	11,245
Honeywell International, Inc.	​	​	38	​	​	7,753
HP, Inc.	​	​	308	​	​	8,507
Illumina, Inc.*	​	​	37	​	​	8,466
Incyte Corp.*	​	​	112	​	​	8,326
Intel Corp.	​	​	2,877	​	​	81,793
International Business Machines Corp.	​	​	263	​	​	36,370
Intuit, Inc.	​	​	28	​	​	11,970
Johnson & Johnson	​	​	470	​	​	81,766
Juniper Networks, Inc.	​	​	185	​	​	5,661
KLA Corp.	​	​	17	​	​	5,380
Lam Research Corp.	​	​	20	​	​	8,096
Lockheed Martin Corp.	​	​	19	​	​	9,247
Marvell Technology, Inc.	​	​	182	​	​	7,222
Medtronic PLC	​	​	152	​	​	13,276
Merck & Co., Inc.	​	​	626	​	​	63,351
Meta Platforms, Inc., Class A*	​	​	1,030	​	​	95,955
Microchip Technology, Inc.	​	​	79	​	​	4,877
Micron Technology, Inc.	​	​	291	​	​	15,743
Microsoft Corp.	​	​	507	​	​	117,690
Moderna, Inc.*	​	​	79	​	​	11,876
Nestle SA	​	​	84	​	​	9,153
NetApp, Inc.	​	​	67	​	​	4,641
Netflix, Inc.*	​	​	55	​	​	16,053
Northrop Grumman Corp.	​	​	12	​	​	6,588
NVIDIA Corp.	��	​	242	​	​	32,663
Oracle Corp.	​	​	561	​	​	43,797
Palo Alto Networks, Inc.*	​	​	41	​	​	7,035
PayPal Holdings, Inc.*	​	​	173	​	​	14,459
Pfizer, Inc.	​	​	1,609	​	​	74,899
Procter & Gamble Co. (The)	​	​	74	​	​	9,966
QUALCOMM, Inc.	​	​	320	​	​	37,651
Raytheon Technologies Corp.	​	​	169	​	​	16,025
Regeneron Pharmaceuticals, Inc.*	​	​	20	​	​	14,975
Rivian Automotive, Inc., Class A*(a)	​	​	292	​	​	10,211
Roche Holding AG	​	​	222	​	​	73,771
Salesforce, Inc.*	​	​	172	​	​	27,966
Schneider Electric SE	​	​	69	​	​	8,747
Seagate Technology Holdings PLC	​	​	76	​	​	3,774
Seagen, Inc.*	​	​	49	​	​	6,231
ServiceNow, Inc.*	​	​	19	​	​	7,994
Splunk, Inc.*	​	​	58	​	​	4,820
Spotify Technology SA*	​	​	59	​	​	4,754
Stellantis NV*	​	​	2,132	​	​	28,784

See notes to financial statements.

108

Schedule of Investments — IQ Global Equity R&D Leaders ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
United States (continued)
Stryker Corp.	​	32	​	$	7,336
Synopsys, Inc.*	​	26	​	​	7,606
Tesla, Inc.*	​	49	​	​	11,149
Texas Instruments, Inc.	​	48	​	​	7,710
Thermo Fisher Scientific, Inc.	​	14	​	​	7,196
Twilio, Inc., Class A*	​	65	​	​	4,834
Uber Technologies, Inc.*	​	375	​	​	9,964
Vertex Pharmaceuticals, Inc.*	​	43	​	​	13,416
VMware, Inc., Class A	​	142	​	​	15,979
Western Digital Corp.*	​	316	​	​	10,861
Workday, Inc., Class A*	​	69	​	​	10,752
Total United States	​	​	​	​	2,329,391
Total Common Stocks (Cost $4,784,723)	​	​	​	​	3,750,224
Preferred Stock — 1.7%
Germany — 1.7%
Volkswagen AG, 5.79% (Cost $101,923)	​	525	​	​	67,112

​	Shares	Value
Total Investments — 99.9% (Cost $4,886,646)	​	​	$	3,817,336
Other Assets and Liabilities, Net — 0.1%	​	​	​	2,424
Net Assets — 100.0%	​	​	$	3,819,760

*

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 $9,966; total market value of collateral held consisted of non-cash U.S. Treasury securities collateral having a value of $10,024.

The following is a summary of the inputs used to value the Fund’s investments as of October 31, 2022. 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:(b)

​

​

​

​

​

​

​

​

​

​

​

​

Common Stocks

​

$

3,750,224

​

$

—

​

$

—

​

$

3,750,224

Preferred Stock

​

​

67,112

​

​

—

​

​

—

​

​

67,112

Total Investments in Securities

​

$

3,817,336

​

$

—

​

$

—

​

$

3,817,336

(b)

For a complete listing of investments and their countries, see the Schedule of Investments.

For the period ended October 31, 2022, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

See notes to financial statements.

109​

Schedule of Investments — IQ U.S. Large Cap R&D Leaders ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks — 99.9%
Communication Services — 12.6%	​		​
Activision Blizzard, Inc.	​	174	​	$	12,667
Alphabet, Inc., Class A*	​	2,956	​	​	279,371
AT&T, Inc.	​	920	​	​	16,772
Electronic Arts, Inc.	​	188	​	​	23,680
Meta Platforms, Inc., Class A*	​	1,381	​	​	128,654
Netflix, Inc.*	​	109	​	​	31,815
Pinterest, Inc., Class A*	​	326	​	​	8,020
Spotify Technology SA*	​	117	​	​	9,428
Total Communication Services	​	​	​	​	510,407
Consumer Discretionary — 12.8%
Airbnb, Inc., Class A*	​	124	​	​	13,257
Amazon.com, Inc.*	​	2,678	​	​	274,334
Aptiv PLC*	​	112	​	​	10,200
eBay, Inc.	​	317	​	​	12,629
Expedia Group, Inc.*	​	110	​	​	10,282
Ford Motor Co.	​	5,226	​	​	69,871
Garmin Ltd.	​	100	​	​	8,804
General Motors Co.	​	2,000	​	​	78,500
Rivian Automotive, Inc., Class A*(a)	​	578	​	​	20,213
Tesla, Inc.*	​	96	​	​	21,844
Total Consumer Discretionary	​	​	​	​	519,934
Consumer Staples — 0.5%	​		​
Procter & Gamble Co. (The)	​	146	​	​	19,662
Energy — 0.3%	​		​
Exxon Mobil Corp.	​	92	​	​	10,194
Health Care — 27.8%	​		​
Abbott Laboratories	​	274	​	​	27,110
AbbVie, Inc.	​	461	​	​	67,490
Amgen, Inc.	​	209	​	​	56,503
Becton Dickinson and Co.	​	55	​	​	12,978
Biogen, Inc.*	​	107	​	​	30,328
Boston Scientific Corp.*	​	312	​	​	13,450
Bristol-Myers Squibb Co.	​	1,472	​	​	114,036
Danaher Corp.	​	66	​	​	16,610
Edwards Lifesciences Corp.*	​	103	​	​	7,460
Eli Lilly & Co.	​	231	​	​	83,643
Gilead Sciences, Inc.	​	841	​	​	65,985
Illumina, Inc.*	​	73	​	​	16,704
Incyte Corp.*	​	222	​	​	16,504
Johnson & Johnson	​	931	​	​	161,966
Medtronic PLC	​	300	​	​	26,202
Merck & Co., Inc.	​	1,239	​	​	125,387
Moderna, Inc.*	​	157	​	​	23,602
Novavax, Inc.*	​	680	​	​	15,144
Pfizer, Inc.	​	3,184	​	​	148,215
Regeneron Pharmaceuticals, Inc.*	​	40	​	​	29,950
Seagen, Inc.*	​	97	​	​	12,335
Stryker Corp.	​	64	​	​	14,671
Thermo Fisher Scientific, Inc.	​	28	​	​	14,391
Vertex Pharmaceuticals, Inc.*	​	86	​	​	26,832
Total Health Care	​	​	​	​	1,127,496
Industrials — 5.7%	​		​
3M Co.	​	165	​	​	20,755
Boeing Co. (The)*	​	181	​	​	25,794

​	Shares		Value
Common Stocks (continued)
Industrials (continued)	​		​
Caterpillar, Inc.	​	102	​	$	22,079
Cummins, Inc.	​	55	​	​	13,448
Deere & Co.	​	51	​	​	20,187
General Electric Co.	​	407	​	​	31,669
Honeywell International, Inc.	​	76	​	​	15,506
Lockheed Martin Corp.	​	37	​	​	18,007
Northrop Grumman Corp.	​	23	​	​	12,627
Raytheon Technologies Corp.	​	335	​	​	31,765
Uber Technologies, Inc.*	​	742	​	​	19,715
Total Industrials	​	​	​	​	231,552
Information Technology — 39.3%	​		​
Adobe, Inc.*	​	90	​	​	28,665
Advanced Micro Devices, Inc.*	​	489	​	​	29,369
Analog Devices, Inc.	​	106	​	​	15,118
Apple, Inc.	​	1,592	​	​	244,117
Applied Materials, Inc.	​	285	​	​	25,163
Atlassian Corp., Class A*	​	54	​	​	10,947
Autodesk, Inc.*	​	57	​	​	12,215
Block, Inc.*	​	266	​	​	15,979
Broadcom, Inc.	​	93	​	​	43,721
Cadence Design Systems, Inc.*	​	67	​	​	10,143
Cisco Systems, Inc.	​	1,583	​	​	71,916
Corning, Inc.	​	302	​	​	9,715
Dell Technologies, Inc., Class C	​	834	​	​	32,026
Hewlett Packard Enterprise Co.	​	1,478	​	​	21,091
HP, Inc.	​	578	​	​	15,964
Intel Corp.	​	5,396	​	​	153,408
International Business Machines Corp.	​	492	​	​	68,039
Intuit, Inc.	​	53	​	​	22,657
Juniper Networks, Inc.	​	366	​	​	11,200
KLA Corp.	​	31	​	​	9,810
Lam Research Corp.	​	37	​	​	14,977
Marvell Technology, Inc.	​	341	​	​	13,531
Microchip Technology, Inc.	​	147	​	​	9,076
Micron Technology, Inc.	​	546	​	​	29,539
Microsoft Corp.	​	951	​	​	220,756
NetApp, Inc.	​	126	​	​	8,728
NVIDIA Corp.	​	454	​	​	61,276
Oracle Corp.	​	1,052	​	​	82,130
Palo Alto Networks, Inc.*	​	77	​	​	13,212
PayPal Holdings, Inc.*	​	343	​	​	28,668
QUALCOMM, Inc.	​	600	​	​	70,596
Salesforce, Inc.*	​	322	​	​	52,354
ServiceNow, Inc.*	​	36	​	​	15,147
Splunk, Inc.*	​	108	​	​	8,976
Synopsys, Inc.*	​	49	​	​	14,335
Texas Instruments, Inc.	​	91	​	​	14,617
Twilio, Inc., Class A*	​	122	​	​	9,073
Unity Software, Inc.*(a)	​	220	​	​	6,490
VMware, Inc., Class A	​	265	​	​	29,820
Western Digital Corp.*	​	593	​	​	20,381
Workday, Inc., Class A*	​	130	​	​	20,257
Total Information Technology	​	​	​	​	1,595,202
Materials — 0.9%	​		​
Corteva, Inc.	​	194	​	​	12,676
Dow, Inc.	​	190	​	​	8,881

See notes to financial statements.

110

Schedule of Investments — IQ U.S. Large Cap R&D Leaders ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Materials (continued)	​		​
Ginkgo Bioworks Holdings, Inc.*(a)	​	5,492	​	$	14,993
Total Materials	​	​	​	​	36,550
Total Common Stocks (Cost $4,955,195)	​	​	​	​	4,050,997
Short-Term Investment — 0.0%(b)
Money Market Fund — 0.0%(b)
Dreyfus Government Cash Management Fund, Institutional Shares, 2.91%(c)(d) (Cost $1,216)	​	1,216	​	​	1,216
Total Investments — 99.9% (Cost $4,956,411)	​	​	​	​	4,052,213
Other Assets and Liabilities, Net — 0.1%	​	​	​	​	3,052
Net Assets — 100.0%	​	​	​	$	4,055,265

*

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 $27,208; total market value of collateral held by the Fund was $27,398. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $26,182.

(b)

Less than 0.05%.

(c)

Reflects the 1-day yield at October 31, 2022.

(d)

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, 2022. 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

​

$

4,050,997

​

$

—

​

$

—

​

$

4,050,997

Short-Term Investment:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Fund

​

​

1,216

​

​

—

​

​

—

​

​

1,216

Total Investments in Securities

​

$

4,052,213

​

$

—

​

$

—

​

$

4,052,213

(e)

For a complete listing of investments and their industries, see the Schedule of Investments.

For the period ended October 31, 2022, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy.

See notes to financial statements.

111​

Schedule of Investments — IQ U.S. Mid Cap R&D Leaders ETF 

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks — 99.8%
Communication Services — 9.1%
Electronic Arts, Inc.	​	1,178	​	$	148,381
Pinterest, Inc., Class A*	​	1,231	​	​	30,282
Playtika Holding Corp.*	​	2,815	​	​	26,602
ROBLOX Corp., Class A*(a)	​	1,127	​	​	50,422
Roku, Inc.*	​	540	​	​	29,992
Spotify Technology SA*	​	731	​	​	58,904
Take-Two Interactive Software, Inc.*	​	249	​	​	29,501
Total Communication Services	​	​	​	​	374,084
Consumer Discretionary — 12.9%
Aptiv PLC*	​	701	​	​	63,840
BorgWarner, Inc.	​	1,297	​	​	48,677
DoorDash, Inc., Class A*	​	364	​	​	15,845
eBay, Inc.	​	1,988	​	​	79,202
Expedia Group, Inc.*	​	688	​	​	64,307
Garmin Ltd.	​	626	​	​	55,113
Lucid Group, Inc.*(a)	​	3,108	​	​	44,413
Rivian Automotive, Inc., Class A*(a)	​	3,624	​	​	126,731
Whirlpool Corp.	​	212	​	​	29,307
Total Consumer Discretionary	​	​	​	​	527,435
Energy — 0.9%
Baker Hughes Co.	​	1,312	​	​	36,290
Health Care — 26.4%
Agilent Technologies, Inc.	​	227	​	​	31,405
Alnylam Pharmaceuticals, Inc.*	​	238	​	​	49,328
Biogen, Inc.*	​	672	​	​	190,472
BioMarin Pharmaceutical, Inc.*	​	459	​	​	39,763
Dexcom, Inc.*	​	439	​	​	53,022
Exact Sciences Corp.*	​	602	​	​	20,938
Exelixis, Inc.*	​	2,745	​	​	45,512
Horizon Therapeutics PLC*	​	446	​	​	27,795
Incyte Corp.*	​	1,391	​	​	103,407
Ionis Pharmaceuticals, Inc.*	​	966	​	​	42,697
Jazz Pharmaceuticals PLC*	​	243	​	​	34,941
Mirati Therapeutics, Inc.*(a)	​	420	​	​	28,274
Neurocrine Biosciences, Inc.*	​	242	​	​	27,859
Novavax, Inc.*	​	4,266	​	​	95,004
Organon & Co.	​	1,113	​	​	29,138
Sarepta Therapeutics, Inc.*	​	427	​	​	48,686
Seagen, Inc.*	​	610	​	​	77,568
Ultragenyx Pharmaceutical, Inc.*	​	715	​	​	28,929
Veeva Systems, Inc., Class A*	​	164	​	​	27,542
Viatris, Inc.	​	4,860	​	​	49,232
Zimmer Biomet Holdings, Inc.	​	236	​	​	26,751
Total Health Care	​	​	​	​	1,078,263
Industrials — 7.1%
AGCO Corp.	​	251	​	​	31,167
Carrier Global Corp.	​	832	​	​	33,080
Cummins, Inc.	​	346	​	​	84,600
Fortive Corp.	​	384	​	​	24,538
Lyft, Inc., Class A*	​	3,183	​	​	46,599
Rockwell Automation, Inc.	​	113	​	​	28,849
Textron, Inc.	​	625	​	​	42,775
Total Industrials	​	​	​	​	291,608

​	Shares		Value
Common Stocks (continued)
Information Technology — 35.9%
Affirm Holdings, Inc.*	​	1,191	​	$	23,903
Akamai Technologies, Inc.*	​	151	​	​	13,338
ANSYS, Inc.*	​	62	​	​	13,712
AppLovin Corp., Class A*	​	767	​	​	13,008
Arista Networks, Inc.*	​	362	​	​	43,751
Cadence Design Systems, Inc.*	​	252	​	​	38,150
Ciena Corp.*	​	777	​	​	37,218
Cirrus Logic, Inc.*	​	206	​	​	13,827
Coherent Corp.*	​	324	​	​	10,890
Corning, Inc.	​	1,139	​	​	36,642
Crowdstrike Holdings, Inc., Class A*	​	97	​	​	15,636
Datadog, Inc., Class A*	​	225	​	​	18,115
Dell Technologies, Inc., Class C	​	3,146	​	​	120,806
DocuSign, Inc.*	​	286	​	​	13,814
Dropbox, Inc., Class A*	​	1,346	​	​	29,276
F5, Inc.*	​	127	​	​	18,150
Fortinet, Inc.*	​	334	​	​	19,091
GLOBALFOUNDRIES, Inc.*(a)	​	306	​	​	17,350
GoDaddy, Inc., Class A*	​	352	​	​	28,301
Hewlett Packard Enterprise Co.	​	5,575	​	​	79,555
HP, Inc.	​	2,179	​	​	60,184
HubSpot, Inc.*	​	46	​	​	13,642
Juniper Networks, Inc.	​	2,297	​	​	70,288
Keysight Technologies, Inc.*	​	315	​	​	54,857
Microchip Technology, Inc.	​	556	​	​	34,327
MongoDB, Inc.*	​	61	​	​	11,165
Motorola Solutions, Inc.	​	199	​	​	49,692
NetApp, Inc.	​	475	​	​	32,903
Nutanix, Inc., Class A*	​	886	​	​	24,276
Okta, Inc.*	​	362	​	​	20,315
ON Semiconductor Corp.*	​	329	​	​	20,211
Palantir Technologies, Inc., Class A*	​	1,636	​	​	14,380
Pure Storage, Inc., Class A*	​	795	​	​	24,534
Qorvo, Inc.*	​	267	​	​	22,983
RingCentral, Inc., Class A*	​	303	​	​	10,763
Skyworks Solutions, Inc.	​	222	​	​	19,094
Splunk, Inc.*	​	409	​	​	33,992
SS&C Technologies Holdings, Inc.	​	294	​	​	15,118
Synopsys, Inc.*	​	186	​	​	54,414
Teradyne, Inc.	​	191	​	​	15,538
Trimble, Inc.*	​	594	​	​	35,735
Twilio, Inc., Class A*	​	461	​	​	34,285
Unity Software, Inc.*(a)	​	831	​	​	24,515
Western Digital Corp.*	​	2,236	​	​	76,851
Wix.com Ltd.*	​	227	​	​	19,091
Zebra Technologies Corp., Class A*	​	126	​	​	35,686
Zendesk, Inc.*	​	192	​	​	14,725
Zoom Video Communications, Inc., Class A*	​	242	​	​	20,193
Total Information Technology	​	​	​	​	1,468,290
Materials — 6.9%
Corteva, Inc.	​	1,217	​	​	79,519
DuPont de Nemours, Inc.	​	703	​	​	40,211
Ginkgo Bioworks Holdings, Inc.*(a)	​	34,430	​	​	93,994
International Flavors & Fragrances, Inc.	​	395	​	​	38,556

See notes to financial statements.

112

Schedule of Investments — IQ U.S. Mid Cap R&D Leaders ETF (continued)

October 31, 2022 (unaudited)

​	Shares		Value
Common Stocks (continued)
Materials (continued)
PPG Industries, Inc.	​	248	​	$	28,317
Total Materials	​	​	​	​	280,597
Real Estate — 0.6%
Zillow Group, Inc., Class C*(a)	​	852	​	​	26,293
Total Common Stocks (Cost $4,814,563)	​	​	​	​	4,082,860
Short-Term Investment — 3.2%	​	​	​	​	​
Money Market Fund — 3.2%	​	​	​	​	​
Dreyfus Government Cash Management Fund, Institutional Shares, 2.91%(b)(c) (Cost $130,043)	​	130,043	​	​	130,043

​	Shares	Value
Total Investments — 103.0%	​	​	​	​
(Cost $4,944,606)	​	​	$	4,212,903
Other Assets and Liabilities, Net — (3.0)%	​	​	​	(121,935)
Net Assets — 100.0%	​	​	$	4,090,968

*

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 $372,402; total market value of collateral held by the Fund was $379,043. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $249,000.

(b)

Reflects the 1-day yield at October 31, 2022.

(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, 2022. 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

​

$

4,082,860

​

$

—

​

$

—

​

$

4,082,860

Short-Term Investment:

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Fund

​

​

130,043

​

​

—

​

​

—

​

​

130,043

Total Investments in Securities

​

$

4,212,903

​

$

—

​

$

—

​

$

4,212,903

(d)

For a complete listing of investments and their industries, see the Schedule of Investments.

For the period ended October 31, 2022, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

See notes to financial statements.

113​

Statements of Assets and Liabilities 

October 31, 2022 (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)

​

$

757,536,151

​

$

2,336,827

​

$

7,673,881

​

$

20,963,536

Investments in affiliates, at value

​

​

30,668,403

​

​

244,114

​

​

273,560

​

​

142,231

Deposits at broker for swap contracts

​

​

1,411,444

​

​

—

​

​

—

​

​

—

Due from broker

​

​

1,468,190

​

​

6,821

​

​

1,360

​

​

115,214

Securities lending income receivable

​

​

188,557

​

​

286

​

​

3,745

​

​

2,862

Dividend receivable

​

​

391

​

​

15

​

​

38

​

​

105

Prepaid expenses

​

​

115

​

​

—

​

​

1

​

​

114

Total Assets

​

​

791,273,251

​

​

2,588,063

​

​

7,952,585

​

​

21,224,062

Liabilities

​

​

​

​

​

​

​

​

​

​

​

​

Collateral for investments on loan

​

​

139,268,137

​

​

111,315

​

​

1,704,172

​

​

975,683

Due to broker

​

​

2,178,642

​

​

6,354

​

​

6,127

​

​

145,439

Cash due to custodian

​

​

595,354

​

​

—

​

​

—

​

​

—

Advisory fees payable

​

​

287,714

​

​

839

​

​

2,275

​

​

6,501

Trustee fees payable

​

​

3,730

​

​

42

​

​

239

​

​

47

Accrued expenses and other liabilities

​

​

1,798

​

​

21

​

​

106

​

​

25

Total Liabilities

​

​

142,335,375

​

​

118,571

​

​

1,712,919

​

​

1,127,695

Net Assets

​

$

648,937,876

​

$

2,469,492

​

$

6,239,666

​

$

20,096,367

Composition of Net Assets

​

​

​

​

​

​

​

​

​

​

​

​

Paid-in capital

​

$

778,828,725

​

$

8,054,976

​

$

7,874,147

​

$

24,018,882

Total distributable earnings/(accumulated loss)

​

​

(129,890,849)

​

​

(5,585,484)

​

​

(1,634,481)

​

​

(3,922,515)

Net Assets

​

$

648,937,876

​

$

2,469,492

​

$

6,239,666

​

$

20,096,367

NET ASSET VALUE PER SHARE

​

​

​

​

​

​

​

​

​

​

​

​

Shares Outstanding (no par value, unlimited shares authorized)

​

​

23,050,000

​

​

100,000

​

​

250,000

​

​

850,000

Net Asset Value Per Share

​

$

28.15

​

$

24.69

​

$

24.96

​

$

23.64

Investments, at cost

​

$

805,245,367

​

$

2,450,325

​

$

8,101,293

​

$

23,640,523

Investments in affiliates, at cost

​

$

31,419,890

​

$

251,069

​

$

280,995

​

$

144,672

(a)Market value of securities on loan

​

$

160,593,309

​

$

107,494

​

$

1,657,177

​

$

950,418

See notes to financial statements.

114

Statements of Assets and Liabilities (continued)

October 31, 2022 (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)

​

$

7,239,436

​

$

8,702,692

​

$

18,085,740

​

$

570,273,488

Investments in affiliates, at value

​

​

1,322

​

​

—

​

​

—

​

​

—

Cash

​

​

—

​

​

—

​

​

14,047

​

​

135,566

Foreign currency(b)

​

​

—

​

​

—

​

​

—

​

​

205,361

Deposits at broker for swap contracts

​

​

—

​

​

—

​

​

—

​

​

2,000,000

Restricted cash for swap contracts

​

​

—

​

​

—

​

​

—

​

​

4,143,246

Securities lending income receivable

​

​

2,813

​

​

153

​

​

284

​

​

3,890

Due from broker

​

​

1,400

​

​

—

​

​

—

​

​

149,955

Dividend receivable

​

​

28

​

​

2,184

​

​

528

​

​

1,724,910

Receivable for investments sold

​

​

—

​

​

126,869

​

​

1,208,299

​

​

1,281,215

Interest receivable

​

​

—

​

​

6,818

​

​

244,627

​

​

—

Reclaims receivable

​

​

—

​

​

—

​

​

—

​

​

73,888

Total Assets

​

​

7,244,999

​

​

8,838,716

​

​

19,553,525

​

​

579,991,519

Liabilities

​

​

​

​

​

​

​

​

​

​

​

​

Collateral for investments on loan

​

​

1,052,769

​

​

2,485

​

​

79,258

​

​

13,105,735

Due to broker

​

​

4,518

​

​

—

​

​

—

​

​

1,874,804

Advisory fees payable

​

​

2,088

​

​

1,826

​

​

5,803

​

​

353,309

Trustee fees payable

​

​

94

​

​

558

​

​

850

​

​

2,591

Payable for investments purchased

​

​

—

​

​

124,023

​

​

1,314,507

​

​

—

Deposits from brokers for swap contracts

​

​

—

​

​

—

​

​

—

​

​

4,143,245

Payable for capital shares repurchased

​

​

—

​

​

—

​

​

—

​

​

1,583,155

Compliance fees payable

​

​

—

​

​

—

​

​

—

​

​

122

Accrued expenses and other liabilities

​

​

95

​

​

433

​

​

882

​

​

3,866

Total Liabilities

​

​

1,059,564

​

​

129,325

​

​

1,401,300

​

​

21,066,827

Net Assets

​

$

6,185,435

​

$

8,709,391

​

$

18,152,225

​

$

558,924,692

Composition of Net Assets

​

​

​

​

​

​

​

​

​

​

​

​

Paid-in capital

​

$

7,694,011

​

$

13,014,999

​

$

24,153,074

​

$

626,200,653

Total distributable earnings/(accumulated loss)

​

​

(1,508,576)

​

​

(4,305,608)

​

​

(6,000,849)

​

​

(67,275,961)

Net Assets

​

$

6,185,435

​

$

8,709,391

​

$

18,152,225

​

$

558,924,692

NET ASSET VALUE PER SHARE

​

​

​

​

​

​

​

​

​

​

​

​

Shares Outstanding (no par value, unlimited shares authorized)

​

​

300,000

​

​

350,000

​

​

850,000

​

​

17,650,000

Net Asset Value Per Share

​

$

20.62

​

$

24.88

​

$

21.36

​

$

31.67

Investments, at cost

​

$

7,906,338

​

$

9,683,108

​

$

19,758,838

​

$

580,911,009

Investments in affiliates, at cost

​

$

1,322

​

$

—

​

$

—

​

$

—

(a)Market value of securities on loan

​

$

1,023,962

​

$

1,285,207

​

$

76,648

​

$

13,278,540

(b)Cost of foreign currency

​

$

—

​

$

—

​

$

—

​

$

203,620

See notes to financial statements.

115​

Statements of Assets and Liabilities (continued)

October 31, 2022 (unaudited)

​

IQ Global Resources ETF

IQ CBRE NextGen Real Estate ETF

IQ FTSE International Equity Currency Neutral ETF

IQ Chaikin U.S. Large Cap ETF

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Investments, at value (including securities on loan)(a)

​

$

36,269,892

​

$

26,940,570

​

$

265,567,682

​

$

277,424,683

Cash

​

​

—

​

​

—

​

​

—

​

​

—

Foreign currency(b)

​

​

9,160

​

​

—

​

​

104,657

​

​

—

Restricted cash for forward foreign currency contracts

​

​

—

​

​

—

​

​

2,946,309

​

​

—

Receivable for investments sold

​

​

3,159,371

​

​

—

​

​

—

​

​

4,301,743

Dividend receivable

​

​

46,521

​

​

10,052

​

​

641,240

​

​

223,397

Reclaims receivable

​

​

44,348

​

​

258

​

​

619,050

​

​

—

Securities lending income receivable

​

​

153

​

​

1

​

​

1,335

​

​

343

Prepaid expenses

​

​

113

​

​

—

​

​

—

​

​

—

Receivable for capital shares transactions

​

​

—

​

​

—

​

​

—

​

​

1,659

Unrealized appreciation on forward foreign currency contracts

​

​

—

​

​

—

​

​

1,071,285

​

​

—

Prepaid expenses

​

​

—

​

​

6

​

​

3,360

​

​

47

Total Assets

​

​

39,529,558

​

​

26,950,887

​

​

270,954,918

​

​

281,951,872

Liabilities

​

​

​

​

​

​

​

​

​

​

​

​

Payable for capital shares repurchased

​

​

3,159,178

​

​

—

​

​

—

​

​

—

Collateral for investments on loan

​

​

26,704

​

​

—

​

​

1,097,062

​

​

—

Advisory fees payable

​

​

9,355

​

​

13,404

​

​

39,180

​

​

53,321

Payable for investments purchased

​

​

—

​

​

—

​

​

9

​

​

—

Deposits from brokers for forward foreign currency contracts

​

​

—

​

​

—

​

​

2,946,309

​

​

—

Cash due to custodian

​

​

—

​

​

—

​

​

867,164

​

​

4,012,658

Foreign currency due to custodian(b)

​

​

—

​

​

29

​

​

—

​

​

—

Trustee fees payable

​

​

—

​

​

285

​

​

1,826

​

​

1,645

Unrealized depreciation on forward foreign currency contracts

​

​

—

​

​

—

​

​

1,093,157

​

​

—

Accrued expenses and other liabilities

​

​

4

​

​

246

​

​

1,039

​

​

831

Total Liabilities

​

​

3,195,241

​

​

13,964

​

​

6,045,746

​

​

4,068,455

Net Assets

​

$

36,334,317

​

$

26,936,923

​

$

264,909,172

​

$

277,883,417

Composition of Net Assets

​

​

​

​

​

​

​

​

​

​

​

​

Paid-in capital

​

$

96,083,635

​

$

46,525,954

​

$

296,458,210

​

$

325,131,518

Total distributable earnings/(accumulated loss)

​

​

(59,749,318)

​

​

(19,589,031)

​

​

(31,549,038)

​

​

(47,248,101)

Net Assets

​

$

36,334,317

​

$

26,936,923

​

$

264,909,172

​

$

277,883,417

NET ASSET VALUE PER SHARE

​

​

​

​

​

​

​

​

​

​

​

​

Shares Outstanding (no par value, unlimited shares authorized)

​

​

1,150,000

​

​

1,450,000

​

​

13,000,000

​

​

8,900,000

Net Asset Value Per Share

​

$

31.60

​

$

18.58

​

$

20.38

​

$

31.22

Investments, at cost

​

$

35,519,055

​

$

29,428,120

​

$

305,940,960

​

$

288,040,901

(a)Market value of securities on loan

​

$

827,684

​

$

181,780

​

$

3,117,925

​

$

3,359,566

(b)Cost of foreign currency

​

$

8,972

​

$

(29)

​

$

103,401

​

$

—

See notes to financial statements.

116

Statements of Assets and Liabilities (continued)

October 31, 2022 (unaudited)

​

IQ Chaikin U.S. Small Cap ETF

IQ 500 International ETF

IQ Candriam ESG U.S. Large Cap Equity ETF

IQ Candriam ESG U.S. Mid Cap Equity ETF

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Investments, at value (including securities on loan)(a)

​

$

239,072,442

​

$

183,465,466

​

$

371,954,807

​

$

5,219,668

Receivable for capital shares transactions

​

​

1,631,504

​

​

—

​

​

—

​

​

—

Dividend receivable

​

​

69,494

​

​

746,998

​

​

283,581

​

​

1,993

Securities lending income receivable

​

​

1,644

​

​

5,597

​

​

446

​

​

—

Receivable for investments sold

​

​

—

​

​

—

​

​

524,847

​

​

—

Due from advisor

​

​

—

​

​

—

​

​

4,375

​

​

—

Interest receivable

​

​

—

​

​

—

​

​

—

​

​

25

Reclaims receivable

​

​

—

​

​

311,339

​

​

—

​

​

—

Prepaid expenses

​

​

37

​

​

30

​

​

64

​

​

—

Total Assets

​

​

240,775,121

​

​

184,529,430

​

​

372,768,120

​

​

5,221,686

Liabilities

​

​

​

​

​

​

​

​

​

​

​

​

Payable for investments purchased

​

​

1,631,984

​

​

8

​

​

—

​

​

—

Collateral for investments on loan

​

​

858,535

​

​

3,488,171

​

​

—

​

​

—

Advisory fees payable

​

​

63,040

​

​

35,036

​

​

27,543

​

​

139

Cash due to custodian

​

​

—

​

​

121,342

​

​

—

​

​

—

Foreign currency due to custodian(b)

​

​

—

​

​

2,459

​

​

—

​

​

—

Trustee fees payable

​

​

—

​

​

1,370

​

​

2,796

​

​

3

Accrued expenses and other liabilities

​

​

133

​

​

868

​

​

1,644

​

​

6

Total Liabilities

​

​

2,553,692

​

​

3,649,254

​

​

31,983

​

​

148

Net Assets

​

$

238,221,429

​

$

180,880,176

​

$

372,736,137

​

$

5,221,538

Composition of Net Assets

​

​

​

​

​

​

​

​

​

​

​

​

Paid-in capital

​

$

314,367,266

​

$

217,208,041

​

$

371,671,962

​

$

5,040,057

Total distributable earnings/(accumulated loss)

​

​

(76,145,837)

​

​

(36,327,865)

​

​

1,064,175

​

​

181,481

Net Assets

​

$

238,221,429

​

$

180,880,176

​

$

372,736,137

​

$

5,221,538

NET ASSET VALUE PER SHARE

​

​

​

​

​

​

​

​

​

​

​

​

Shares Outstanding (no par value, unlimited shares authorized)

​

​

7,300,000

​

​

7,000,000

​

​

11,350,000

​

​

200,000

Net Asset Value Per Share

​

$

32.63

​

$

25.84

​

$

32.84

​

$

26.11

Investments, at cost

​

$

247,273,449

​

$

215,738,109

​

$

377,357,771

​

$

5,040,032

(a)Market value of securities on loan

​

$

6,377,907

​

$

4,703,890

​

$

5,496,291

​

$

—

(b)Cost of foreign currency

​

$

—

​

$

(2,790)

​

$

—

​

$

—

See notes to financial statements.

117​

Statements of Assets and Liabilities (continued)

October 31, 2022 (unaudited)

​

IQ Candriam ESG International Equity ETF

IQ Healthy Hearts ETF

IQ Engender Equality ETF

IQ Cleaner Transport ETF

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Investments, at value (including securities on loan)(a)

​

$

181,528,541

​

$

7,665,063

​

$

5,241,624

​

$

4,388,646

Dividend receivable

​

​

463,910

​

​

3,737

​

​

4,590

​

​

6,343

Reclaims receivable

​

​

289,540

​

​

8,119

​

​

—

​

​

5,800

Receivable for investments sold

​

​

53,470

​

​

—

​

​

—

​

​

—

Due from advisor

​

​

1,962

​

​

—

​

​

—

​

​

—

Securities lending income receivable

​

​

1,096

​

​

28

​

​

10

​

​

3

Prepaid expenses

​

​

31

​

​

1

​

​

—

​

​

1

Total Assets

​

​

182,338,550

​

​

7,676,948

​

​

5,246,224

​

​

4,400,793

Liabilities

​

​

​

​

​

​

​

​

​

​

​

​

Collateral for investments on loan

​

​

958,587

​

​

25,172

​

​

—

​

​

4,710

Foreign currency due to custodian(b)

​

​

143,014

​

​

128

​

​

—

​

​

—

Advisory fees payable

​

​

22,425

​

​

2,745

​

​

1,845

​

​

1,560

Trustee fees payable

​

​

1,022

​

​

47

​

​

129

​

​

157

Cash due to custodian

​

​

—

​

​

1,032

​

​

—

​

​

4,027

Accrued expenses and other liabilities

​

​

588

​

​

22

​

​

38

​

​

45

Total Liabilities

​

​

1,125,636

​

​

29,146

​

​

2,012

​

​

10,499

Net Assets

​

$

181,212,914

​

$

7,647,802

​

$

5,244,212

​

$

4,390,294

Composition of Net Assets

​

​

​

​

​

​

​

​

​

​

​

​

Paid-in capital

​

$

207,814,901

​

$

8,274,195

​

$

6,398,834

​

$

6,490,878

Total distributable earnings/(accumulated loss)

​

​

(26,601,987)

​

​

(626,393)

​

​

(1,154,622)

​

​

(2,100,584)

Net Assets

​

$

181,212,914

​

$

7,647,802

​

$

5,244,212

​

$

4,390,294

NET ASSET VALUE PER SHARE

​

​

​

​

​

​

​

​

​

​

​

​

Shares Outstanding (no par value, unlimited shares authorized)

​

​

8,100,000

​

​

300,000

​

​

250,000

​

​

250,000

Net Asset Value Per Share

​

$

22.37

​

$

25.49

​

$

20.98

​

$

17.56

Investments, at cost

​

$

203,679,622

​

$

7,840,999

​

$

5,748,323

​

$

5,863,291

(a)Market value of securities on loan

​

$

1,169,902

​

$

212,623

​

$

115,500

​

$

4,574

(b)Cost of foreign currency

​

$

(141,310)

​

$

(130)

​

$

—

​

$

—

See notes to financial statements.

118

Statements of Assets and Liabilities (continued)

October 31, 2022 (unaudited)

​

IQ Clean Oceans ETF

IQ Global Equity R&D Leaders ETF

IQ U.S. Large Cap R&D Leaders ETF

IQ U.S. Mid Cap R&D Leaders ETF

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Investments, at value (including securities on loan)(a)

​

$

4,410,848

​

$

3,817,336

​

$

4,052,213

​

$

4,212,903

Foreign currency(b)

​

​

—

​

​

409

​

​

—

​

​

—

Dividend receivable

​

​

6,464

​

​

5,489

​

​

2,249

​

​

135

Reclaims receivable

​

​

2,847

​

​

2,242

​

​

—

​

​

—

Securities lending income receivable

​

​

23

​

​

2

​

​

45

​

​

337

Receivable for investments sold

​

​

—

​

​

9,985

​

​

18,627

​

​

—

Interest receivable

​

​

—

​

​

—

​

​

—

​

​

69,464

Total Assets

​

​

4,420,182

​

​

3,835,463

​

​

4,073,134

​

​

4,282,839

Liabilities

​

​

​

​

​

​

​

​

​

​

​

​

Collateral for investments on loan

​

​

5,800

​

​

—

​

​

1,216

​

​

130,043

Advisory fees payable

​

​

1,579

​

​

528

​

​

419

​

​

479

Trustee fees payable

​

​

117

​

​

24

​

​

24

​

​

25

Foreign currency due to custodian(b)

​

​

2

​

​

—

​

​

—

​

​

—

Payable for investments purchased

​

​

1

​

​

4,007

​

​

—

​

​

—

Cash due to custodian

​

​

—

​

​

11,102

​

​

16,168

​

​

61,279

Accrued expenses and other liabilities

​

​

30

​

​

42

​

​

42

​

​

45

Total Liabilities

​

​

7,529

​

​

15,703

​

​

17,869

​

​

191,871

Net Assets

​

$

4,412,653

​

$

3,819,760

​

$

4,055,265

​

$

4,090,968

Composition of Net Assets

​

​

​

​

​

​

​

​

​

​

​

​

Paid-in capital

​

$

6,215,912

​

$

5,051,298

​

$

5,053,583

​

$

5,139,287

Total distributable earnings/(accumulated loss)

​

​

(1,803,259)

​

​

(1,231,538)

​

​

(998,318)

​

​

(1,048,319)

Net Assets

​

$

4,412,653

​

$

3,819,760

​

$

4,055,265

​

$

4,090,968

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

​

$

17.65

​

$

19.10

​

$

20.28

​

$

20.45

Investments, at cost

​

$

5,527,568

​

$

4,886,646

​

$

4,956,411

​

$

4,944,606

(a)Market value of securities on loan

​

$

5,604

​

$

9,966

​

$

27,208

​

$

372,402

(b)Cost of foreign currency

​

$

(2)

​

$

409

​

$

—

​

$

—

See notes to financial statements.

119​

Statements of Operations 

For the Six Months Ended October 31, 2022 (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

​

$

8,018,954

​

$

23,446

​

$

175,176

​

$

293,252

Dividend income from affiliates

​

​

681,468

​

​

6,853

​

​

8,388

​

​

2,395

Securities lending income, net of borrower rebates

​

​

978,871

​

​

1,509

​

​

31,895

​

​

20,027

Total investment income

​

​

9,679,293

​

​

31,808

​

​

215,459

​

​

315,674

Expenses

​

​

​

​

​

​

​

​

​

​

​

​

Advisory fees (See Note 3)

​

​

2,653,769

​

​

9,385

​

​

31,787

​

​

63,743

Proxy fees

​

​

52,872

​

​

459

​

​

1,503

​

​

2,605

Trustee fees

​

​

23,824

​

​

123

​

​

507

​

​

624

Legal fees

​

​

16,416

​

​

81

​

​

330

​

​

416

Compliance fees

​

​

24

​

​

—

​

​

—

​

​

—

Miscellaneous

​

​

199

​

​

29

​

​

30

​

​

29

Total expenses

​

​

2,747,104

​

​

10,077

​

​

34,157

​

​

67,417

Waivers/Reimbursement (See Note 3)

​

​

(778,441)

​

​

(3,589)

​

​

(12,573)

​

​

(23,554)

Net expenses

​

​

1,968,663

​

​

6,488

​

​

21,584

​

​

43,863

Net investment income

​

​

7,710,630

​

​

25,320

​

​

193,875

​

​

271,811

Realized and Unrealized Gain (Loss)

​

​

​

​

​

​

​

​

​

​

​

​

Net realized gain (loss) from:

​

​

​

​

​

​

​

​

​

​

​

​

Investment securities

​

​

(36,978,440)

​

​

(171,211)

​

​

(373,820)

​

​

(475,799)

Investment in affiliates

​

​

(1,750,227)

​

​

(18,308)

​

​

(15,741)

​

​

(2,098)

In-Kind redemptions

​

​

625,831

​

​

34,878

​

​

(422,554)

​

​

(71,855)

Affiliates in-kind redemptions

​

​

(38,472)

​

​

(3,060)

​

​

(8,636)

​

​

30

Swap transactions

​

​

227,561

​

​

12,129

​

​

32,469

​

​

(21,752)

Net realized gain (loss)

​

​

(37,913,747)

​

​

(145,572)

​

​

(788,282)

​

​

(571,474)

Net change in net unrealized appreciation (depreciation) on:

​

​

​

​

​

​

​

​

​

​

​

​

Investment securities

​

​

(10,200,687)

​

​

(89,154)

​

​

49,683

​

​

(927,296)

Investment in affiliates

​

​

714,472

​

​

9,934

​

​

10,028

​

​

(1,338)

Net change in net unrealized appreciation (depreciation)

​

​

(9,486,215)

​

​

(79,220)

​

​

59,711

​

​

(928,634)

Net realized and unrealized gain (loss)

​

​

(47,399,962)

​

​

(224,792)

​

​

(728,571)

​

​

(1,500,108)

Net Increase (Decrease) in Net Assets Resulting from Operations

​

$

(39,689,332)

​

$

(199,472)

​

$

(534,696)

​

$

(1,228,297)

See notes to financial statements.

120

Statements of Operations (continued)

For the Six Months Ended October 31, 2022 (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*

​

$

106,471

​

$

393,197

​

$

1,811

​

$

7,470,734

Dividend income from affiliates

​

​

36

​

​

—

​

​

—

​

​

14,616

Interest income

​

​

—

​

​

—

​

​

441,889

​

​

—

Securities lending income, net of borrower rebates

​

​

12,232

​

​

1,107

​

​

1,390

​

​

13,723

Total investment income

​

​

118,739

​

​

394,304

​

​

445,090

​

​

7,499,073

Expenses

​

​

​

​

​

​

​

​

​

​

​

​

Advisory fees (See Note 3)

​

​

25,419

​

​

21,727

​

​

37,727

​

​

2,096,978

Proxy fees

​

​

1,514

​

​

2,462

​

​

2,308

​

​

49,744

Trustee fees

​

​

296

​

​

782

​

​

744

​

​

17,746

Legal fees

​

​

211

​

​

512

​

​

541

​

​

11,513

Compliance fees

​

​

—

​

​

—

​

​

1

​

​

19

Miscellaneous

​

​

30

​

​

30

​

​

202

​

​

29

Total expenses

​

​

27,470

​

​

25,513

​

​

41,523

​

​

2,176,029

Waivers/Reimbursement (See Note 3)

​

​

(9,739)

​

​

(4,495)

​

​

(1,488)

​

​

—

Net expenses

​

​

17,731

​

​

21,018

​

​

40,035

​

​

2,176,029

Net investment income

​

​

101,008

​

​

373,286

​

​

405,055

​

​

5,323,044

Realized and Unrealized Gain (Loss)

​

​

​

​

​

​

​

​

​

​

​

​

Net realized gain (loss) from:

​

​

​

​

​

​

​

​

​

​

​

​

Investment securities

​

​

(492,775)

​

​

(67,611)

​

​

(760,623)

​

​

(19,379,013)

Investment in affiliates

​

​

(112)

​

​

—

​

​

—

​

​

(26,817)

In-Kind redemptions

​

​

(70,137)

​

​

(1,126,174)

​

​

(202,562)

​

​

(1,532,013)

Affiliates in-kind redemptions

​

​

(7)

​

​

—

​

​

—

​

​

37

Swap transactions

​

​

(4,033)

​

​

—

​

​

—

​

​

9,798,028

Foreign currency transactions

​

​

—

​

​

—

​

​

—

​

​

(74,701)

Net realized gain (loss)

​

​

(567,064)

​

​

(1,193,785)

​

​

(963,185)

​

​

(11,214,479)

Net change in net unrealized appreciation (depreciation) on:

​

​

​

​

​

​

​

​

​

​

​

​

Investment securities

​

​

150,440

​

​

(262,362)

​

​

(5,553)

​

​

2,789,862

Investment in affiliates

​

​

59

​

​

—

​

​

—

​

​

—

Foreign currency translations

​

​

—

​

​

—

​

​

—

​

​

(103,915)

Net change in net unrealized appreciation (depreciation)

​

​

150,499

​

​

(262,362)

​

​

(5,553)

​

​

2,685,947

Net realized and unrealized gain (loss)

​

​

(416,565)

​

​

(1,456,147)

​

​

(968,738)

​

​

(8,528,532)

Net Increase (Decrease) in Net Assets Resulting from Operations

​

$

(315,557)

​

$

(1,082,861)

​

$

(563,683)

​

$

(3,205,488)

*Net of foreign taxes withheld of:

​

$

—

​

$

—

​

$

—

​

$

31,568

See notes to financial statements.

121​

Statements of Operations (continued)

For the Six Months Ended October 31, 2022 (unaudited)

​

IQ Global Resources ETF

IQ CBRE NextGen Real Estate ETF

IQ FTSE International Equity Currency Neutral ETF

IQ Chaikin U.S. Large Cap ETF

Investment Income

​

​

​

​

​

​

​

​

​

​

​

​

Dividend income*

​

$

1,054,330

​

$

743,438

​

$

4,495,676

​

$

2,587,365

Securities lending income, net of borrower rebates

​

​

1,502

​

​

1,341

​

​

17,858

​

​

7,624

Total investment income

​

​

1,055,832

​

​

744,779

​

​

4,513,534

​

​

2,594,989

Expenses

​

​

​

​

​

​

​

​

​

​

​

​

Advisory fees (See Note 3)

​

​

57,675

​

​

113,249

​

​

365,713

​

​

360,983

Proxy fees

​

​

4,098

​

​

4,624

​

​

10,113

​

​

4,652

Trustee fees

​

​

1,054

​

​

1,240

​

​

8,539

​

​

9,848

Legal fees

​

​

703

​

​

842

​

​

5,704

​

​

6,585

Compliance fees

​

​

1

​

​

1

​

​

8

​

​

10

Miscellaneous

​

​

30

​

​

30

​

​

29

​

​

30

Total expenses

​

​

63,561

​

​

119,986

​

​

390,106

​

​

382,108

Waivers/Reimbursement (See Note 3)

​

​

(1,788)

​

​

(504)

​

​

(132,653)

​

​

(16,473)

Net expenses

​

​

61,773

​

​

119,482

​

​

257,453

​

​

365,635

Net investment income

​

​

994,059

​

​

625,297

​

​

4,256,081

​

​

2,229,354

Realized and Unrealized Gain (Loss)

​

​

​

​

​

​

​

​

​

​

​

​

Net realized gain (loss) from:

​

​

​

​

​

​

​

​

​

​

​

​

Investment securities

​

​

(613,226)

​

​

(10,140,741)

​

​

(4,652,142)

​

​

1,077,618

In-Kind redemptions

​

​

725,516

​

​

(220,015)

​

​

1,090,833

​

​

584,800

Forward foreign currency contracts

​

​

—

​

​

—

​

​

18,594,079

​

​

—

Foreign currency transactions

​

​

(18,501)

​

​

6,144

​

​

(153,937)

​

​

—

Net realized gain (loss)

​

​

93,789

​

​

(10,354,612)

​

​

14,878,833

​

​

1,662,418

Net change in net unrealized appreciation (depreciation) on:

​

​

​

​

​

​

​

​

​

​

​

​

Investment securities

​

​

(3,917,850)

​

​

1,383,088

​

​

(35,060,271)

​

​

(11,642,441)

Forward foreign currency contracts

​

​

—

​

​

—

​

​

(7,187,724)

​

​

—

Foreign currency translations

​

​

(1,347)

​

​

(1)

​

​

24,057

​

​

—

Net change in net unrealized appreciation (depreciation)

​

​

(3,919,197)

​

​

1,383,087

​

​

(42,223,938)

​

​

(11,642,441)

Net realized and unrealized gain (loss)

​

​

(3,825,408)

​

​

(8,971,525)

​

​

(27,345,105)

​

​

(9,980,023)

Net Increase (Decrease) in Net Assets Resulting from Operations

​

$

(2,831,349)

​

$

(8,346,228)

​

$

(23,089,024)

​

$

(7,750,669)

*Net of foreign taxes withheld of:

​

$

36,986

​

$

2,800

​

$

371,258

​

$

4,449

See notes to financial statements.

122

Statements of Operations (continued)

For the Six Months Ended October 31, 2022 (unaudited)

​

IQ Chaikin U.S. Small Cap ETF

IQ 500 International ETF

IQ Candriam ESG U.S. Large Cap Equity ETF

IQ Candriam ESG U.S. Mid Cap Equity ETF**

Investment Income

​

​

​

​

​

​

​

​

​

​

​

​

Dividend income*

​

$

1,897,837

​

$

3,888,532

​

$

3,001,511

​

$

1,993

Securities lending income, net of borrower rebates

​

​

18,198

​

​

54,828

​

​

4,150

​

​

—

Total investment income

​

​

1,916,035

​

​

3,943,360

​

​

3,005,661

​

​

1,993

Expenses

​

​

​

​

​

​

​

​

​

​

​

​

Advisory fees (See Note 3)

​

​

375,452

​

​

235,016

​

​

178,479

​

​

148

Trustee fees

​

​

5,973

​

​

6,563

​

​

13,655

​

​

4

Proxy fees

​

​

5,526

​

​

3,485

​

​

6,957

​

​

—

Legal fees

​

​

3,954

​

​

4,414

​

​

9,560

​

​

4

Compliance fees

​

​

7

​

​

6

​

​

13

​

​

—

Miscellaneous

​

​

30

​

​

90

​

​

29

​

​

2

Total expenses

​

​

390,942

​

​

249,574

​

​

208,693

​

​

158

Waivers/Reimbursement (See Note 3)

​

​

(9,965)

​

​

(11,074)

​

​

(23,261)

​

​

(10)

Net expenses

​

​

380,977

​

​

238,500

​

​

185,432

​

​

148

Net investment income

​

​

1,535,058

​

​

3,704,860

​

​

2,820,229

​

​

1,845

Realized and Unrealized Gain (Loss)

​

​

​

​

​

​

​

​

​

​

​

​

Net realized gain (loss) from:

​

​

​

​

​

​

​

​

​

​

​

​

Investment securities

​

​

1,630,194

​

​

(974,887)

​

​

(2,972,530)

​

​

—

In-Kind redemptions

​

​

1,434,196

​

​

2,161,570

​

​

10,886,813

​

​

—

Foreign currency transactions

​

​

—

​

​

(184,911)

​

​

—

​

​

—

Net realized gain (loss)

​

​

3,064,390

​

​

1,001,772

​

​

7,914,283

​

​

—

Net change in net unrealized appreciation (depreciation) on:

​

​

​

​

​

​

​

​

​

​

​

​

Investment securities

​

​

2,067,592

​

​

(28,081,255)

​

​

(38,303,571)

​

​

179,636

Foreign currency translations

​

​

—

​

​

33,563

​

​

—

​

​

—

Net change in net unrealized appreciation (depreciation)

​

​

2,067,592

​

​

(28,047,692)

​

​

(38,303,571)

​

​

179,636

Net realized and unrealized gain (loss)

​

​

5,131,982

​

​

(27,045,920)

​

​

(30,389,288)

​

​

179,636

Net Increase (Decrease) in Net Assets Resulting from Operations

​

$

6,667,040

​

$

(23,341,060)

​

$

(27,569,059)

​

$

181,481

*Net of foreign taxes withheld of:

​

$

873

​

$

427,487

​

$

—

​

$

—

** Commencement of operations October 25, 2022.

See notes to financial statements.

123​

Statements of Operations (continued)

For the Six Months Ended October 31, 2022 (unaudited)

​

IQ Candriam ESG International Equity ETF

IQ Healthy Hearts ETF

IQ Engender Equality ETF

IQ Cleaner Transport ETF

Investment Income

​

​

​

​

​

​

​

​

​

​

​

​

Dividend income*

​

$

3,232,020

​

$

50,123

​

$

47,783

​

$

86,651

Securities lending income, net of borrower rebates

​

​

18,244

​

​

122

​

​

40

​

​

242

Total investment income

​

​

3,250,264

​

​

50,245

​

​

47,823

​

​

86,893

Expenses

​

​

​

​

​

​

​

​

​

​

​

​

Advisory fees (See Note 3)

​

​

141,773

​

​

15,456

​

​

11,801

​

​

11,586

Trustee fees

​

​

6,370

​

​

240

​

​

168

​

​

197

Legal fees

​

​

4,260

​

​

145

​

​

114

​

​

136

Proxy fees

​

​

3,405

​

​

476

​

​

254

​

​

344

Compliance fees

​

​

7

​

​

—

​

​

—

​

​

—

Miscellaneous

​

​

30

​

​

29

​

​

30

​

​

30

Total expenses

​

​

155,845

​

​

16,346

​

​

12,367

​

​

12,293

Waivers/Reimbursement (See Note 3)

​

​

(10,667)

​

​

(413)

​

​

(313)

​

​

(363)

Net expenses

​

​

145,178

​

​

15,933

​

​

12,054

​

​

11,930

Net investment income

​

​

3,105,086

​

​

34,312

​

​

35,769

​

​

74,963

Realized and Unrealized Gain (Loss)

​

​

​

​

​

​

​

​

​

​

​

​

Net realized gain (loss) from:

​

​

​

​

​

​

​

​

​

​

​

​

Investment securities

​

​

(3,484,537)

​

​

(307,571)

​

​

(549,318)

​

​

(502,804)

In-Kind redemptions

​

​

1,365,593

​

​

—

​

​

—

​

​

(51,933)

Foreign currency transactions

​

​

(63,337)

​

​

(515)

​

​

—

​

​

(1,499)

Net realized gain (loss)

​

​

(2,182,281)

​

​

(308,086)

​

​

(549,318)

​

​

(556,236)

Net change in net unrealized appreciation (depreciation) on:

​

​

​

​

​

​

​

​

​

​

​

​

Investment securities

​

​

(26,271,956)

​

​

(211,840)

​

​

340,818

​

​

(273,415)

Foreign currency translations

​

​

3,820

​

​

(196)

​

​

—

​

​

(271)

Net change in net unrealized appreciation (depreciation)

​

​

(26,268,136)

​

​

(212,036)

​

​

340,818

​

​

(273,686)

Net realized and unrealized gain (loss)

​

​

(28,450,417)

​

​

(520,122)

​

​

(208,500)

​

​

(829,922)

Net Increase (Decrease) in Net Assets Resulting from Operations

​

$

(25,345,331)

​

$

(485,810)

​

$

(172,731)

​

$

(754,959)

*Net of foreign taxes withheld of:

​

$

302,638

​

$

3,040

​

$

—

​

$

11,760

See notes to financial statements.

124

Statements of Operations (continued)

For the Six Months Ended October 31, 2022 (unaudited)

​

IQ Clean Oceans ETF

IQ Global Equity R&D Leaders ETF**

IQ U.S. Large Cap R&D Leaders ETF**

IQ U.S. Mid Cap R&D Leaders ETF**

Investment Income

​

​

​

​

​

​

​

​

​

​

​

​

Dividend income*

​

$

49,664

​

$

47,552

​

$

30,841

​

$

17,987

Securities lending income, net of borrower rebates

​

​

255

​

​

1,220

​

​

102

​

​

1,082

Total investment income

​

​

49,919

​

​

48,772

​

​

30,943

​

​

19,069

Expenses

​

​

​

​

​

​

​

​

​

​

​

​

Advisory fees (See Note 3)

​

​

10,907

​

​

3,772

​

​

3,010

​

​

3,390

Proxy fees

​

​

279

​

​

127

​

​

127

​

​

173

Trustee fees

​

​

163

​

​

139

​

​

143

​

​

143

Legal fees

​

​

110

​

​

103

​

​

105

​

​

106

Miscellaneous

​

​

30

​

​

31

​

​

31

​

​

31

Total expenses

​

​

11,489

​

​

4,172

​

​

3,416

​

​

3,843

Waivers/Reimbursement (See Note 3)

​

​

(303)

​

​

(274)

​

​

(279)

​

​

(280)

Net expenses

​

​

11,186

​

​

3,898

​

​

3,137

​

​

3,563

Net investment income

​

​

38,733

​

​

44,874

​

​

27,806

​

​

15,506

Realized and Unrealized Gain (Loss)

​

​

​

​

​

​

​

​

​

​

​

​

Net realized gain (loss) from:

​

​

​

​

​

​

​

​

​

​

​

​

Investment securities

​

​

(626,466)

​

​

(116,574)

​

​

(75,297)

​

​

(279,337)

Foreign currency transactions

​

​

(5,478)

​

​

(951)

​

​

—

​

​

—

Net realized gain (loss)

​

​

(631,944)

​

​

(117,525)

​

​

(75,297)

​

​

(279,337)

Net change in net unrealized appreciation (depreciation) on:

​

​

​

​

​

​

​

​

​

​

​

​

Investment securities

​

​

(204,693)

​

​

(516,363)

​

​

(361,976)

​

​

(129,344)

Foreign currency translations

​

​

120

​

​

98

​

​

—

​

​

—

Net change in net unrealized appreciation (depreciation)

​

​

(204,573)

​

​

(516,265)

​

​

(361,976)

​

​

(129,344)

Net realized and unrealized gain (loss)

​

​

(836,517)

​

​

(633,790)

​

​

(437,273)

​

​

(408,681)

Net Increase (Decrease) in Net Assets Resulting from Operations

​

$

(797,784)

​

$

(588,916)

​

$

(409,467)

​

$

(393,175)

*Net of foreign taxes withheld of:

​

$

5,427

​

$

5,733

​

$

15

​

$

—

** Commencement of operations February 8, 2022.

See notes to financial statements.

125​

Statements of Changes in Net Assets 

​

IQ Hedge Multi-Strategy Tracker ETF

IQ Hedge Macro Tracker ETF

​

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30, 2022

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30, 2022

Increase (Decrease) in Net Assets from Operations

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

$

7,710,630

​

$

10,548,049

​

$

25,320

​

$

54,811

Net realized gain (loss)

​

​

(37,913,747)

​

​

(372,625)

​

​

(145,572)

​

​

19,891

Net change in net unrealized appreciation (depreciation)

​

​

(9,486,215)

​

​

(66,883,511)

​

​

(79,220)

​

​

(399,294)

Net increase (decrease) in net assets resulting from operations

​

​

(39,689,332)

​

​

(56,708,087)

​

​

(199,472)

​

​

(324,592)

Distributions to Shareholders

​

​

—

​

​

(2,417,467)

​

​

—

​

​

—

Capital Share Transactions

​

​

​

​

​

​

​

​

​

​

​

​

Proceeds from shares created

​

​

143,037,626

​

​

188,917,002

​

​

—

​

​

—

Cost of shares redeemed

​

​

(211,680,907)

​

​

(168,098,260)

​

​

(1,278,822)

​

​

—

Net increase (decrease) from capital share transactions

​

​

(68,643,281)

​

​

20,818,742

​

​

(1,278,822)

​

​

—

Total increase (decrease) in net assets

​

​

(108,332,613)

​

​

(38,306,812)

​

​

(1,478,294)

​

​

(324,592)

Net Assets

​

​

​

​

​

​

​

​

​

​

​

​

Beginning of period

​

​

757,270,489

​

​

795,577,301

​

​

3,947,786

​

​

4,272,378

End of period

​

$

648,937,876

​

$

757,270,489

​

$

2,469,492

​

$

3,947,786

Changes in Shares Outstanding

​

​

​

​

​

​

​

​

​

​

​

​

Shares outstanding, beginning of period

​

​

25,450,000

​

​

24,850,000

​

​

150,000

​

​

150,000

Shares created

​

​

4,950,000

​

​

6,000,000

​

​

—

​

​

—

Shares redeemed

​

​

(7,350,000)

​

​

(5,400,000)

​

​

(50,000)

​

​

—

Shares outstanding, end of period

​

​

23,050,000

​

​

25,450,000

​

​

100,000

​

​

150,000

See notes to financial statements.

126

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, 2022 (unaudited)

For the Year Ended April 30, 2022

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30, 2022

Increase (Decrease) in Net Assets from Operations

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

$

193,875

​

$

269,296

​

$

271,811

​

$

338,286

Net realized gain (loss)

​

​

(788,282)

​

​

(469,965)

​

​

(571,474)

​

​

483,107

Net change in net unrealized appreciation (depreciation)

​

​

59,711

​

​

(762,486)

​

​

(928,634)

​

​

(1,966,934)

Net increase (decrease) in net assets resulting from operations

​

​

(534,696)

​

​

(963,155)

​

​

(1,228,297)

​

​

(1,145,541)

Distributions to Shareholders

​

​

—

​

​

—

​

​

—

​

​

(108,619)

Capital Share Transactions

​

​

​

​

​

​

​

​

​

​

​

​

Proceeds from shares created

​

​

2,520,336

​

​

1,306,336

​

​

2,338,673

​

​

70,457,011

Cost of shares redeemed

​

​

(12,512,918)

​

​

(1,321,080)

​

​

(1,113,140)

​

​

(58,385,745)

Net increase (decrease) from capital share transactions

​

​

(9,992,582)

​

​

(14,744)

​

​

1,225,533

​

​

12,071,266

Total increase (decrease) in net assets

​

​

(10,527,278)

​

​

(977,899)

​

​

(2,764)

​

​

10,817,106

Net Assets

​

​

​

​

​

​

​

​

​

​

​

​

Beginning of period

​

​

16,766,944

​

​

17,744,843

​

​

20,099,131

​

​

9,282,025

End of period

​

$

6,239,666

​

$

16,766,944

​

$

20,096,367

​

$

20,099,131

Changes in Shares Outstanding

​

​

​

​

​

​

​

​

​

​

​

​

Shares outstanding, beginning of period

​

​

650,000

​

​

650,000

​

​

800,000

​

​

350,000

Shares created

​

​

100,000

​

​

50,000

​

​

100,000

​

​

2,600,000

Shares redeemed

​

​

(500,000)

​

​

(50,000)

​

​

(50,000)

​

​

(2,150,000)

Shares outstanding, end of period

​

​

250,000

​

​

650,000

​

​

850,000

​

​

800,000

See notes to financial statements.

127​

Statements of Changes in Net Assets (continued)

​

IQ Hedge Event-Driven Tracker ETF

IQ Real Return ETF

​

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30, 2022

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30, 2022

Increase (Decrease) in Net Assets from Operations

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

$

101,008

​

$

272,146

​

$

373,286

​

$

369,143

Net realized gain (loss)

​

​

(567,064)

​

​

(406,125)

​

​

(1,193,785)

​

​

478,553

Net change in net unrealized appreciation (depreciation)

​

​

150,499

​

​

(1,110,609)

​

​

(262,362)

​

​

(855,230)

Net increase (decrease) in net assets resulting from operations

​

​

(315,557)

​

​

(1,244,588)

​

​

(1,082,861)

​

​

(7,534)

Distributions to Shareholders

​

​

—

​

​

(266,450)

​

​

(326,677)

​

​

(307,104)

Capital Share Transactions

​

​

​

​

​

​

​

​

​

​

​

​

Proceeds from shares created

​

​

—

​

​

13,009,407

​

​

—

​

​

12,449,377

Cost of shares redeemed

​

​

(2,106,030)

​

​

(12,378,132)

​

​

(16,737,147)

​

​

(38,513,996)

Net increase (decrease) from capital share transactions

​

​

(2,106,030)

​

​

631,275

​

​

(16,737,147)

​

​

(26,064,619)

Total increase (decrease) in net assets

​

​

(2,421,587)

​

​

(879,763)

​

​

(18,146,685)

​

​

(26,379,257)

Net Assets

​

​

​

​

​

​

​

​

​

​

​

​

Beginning of period

​

​

8,607,022

​

​

9,486,785

​

​

26,856,076

​

​

53,235,333

End of period

​

$

6,185,435

​

$

8,607,022

​

$

8,709,391

​

$

26,856,076

Changes in Shares Outstanding

​

​

​

​

​

​

​

​

​

​

​

​

Shares outstanding, beginning of period

​

​

400,000

​

​

400,000

​

​

1,000,000

​

​

1,950,000

Shares created

​

​

—

​

​

550,000

​

​

—

​

​

450,000

Shares redeemed

​

​

(100,000)

​

​

(550,000)

​

​

(650,000)

​

​

(1,400,000)

Shares outstanding, end of period

​

​

300,000

​

​

400,000

​

​

350,000

​

​

1,000,000

See notes to financial statements.

128

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, 2022 (unaudited)

For the Year Ended April 30, 2022

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30, 2022

Increase (Decrease) in Net Assets from Operations

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

$

405,055

​

$

1,410,841

​

$

5,323,044

​

$

1,951,662

Net realized gain (loss)

​

​

(963,185)

​

​

862,948

​

​

(11,214,479)

​

​

11,394,354

Net change in net unrealized appreciation (depreciation)

​

​

(5,553)

​

​

(3,674,682)

​

​

2,685,947

​

​

(53,357,233)

Net increase (decrease) in net assets resulting from operations

​

​

(563,683)

​

​

(1,400,893)

​

​

(3,205,488)

​

​

(40,011,217)

Distributions to Shareholders

​

​

(426,880)

​

​

(1,750,995)

​

​

—

​

​

—

Capital Share Transactions

​

​

​

​

​

​

​

​

​

​

​

​

Proceeds from shares created

​

​

—

​

​

—

​

��

34,596,950

​

​

212,439,115

Cost of shares redeemed

​

​

(2,202,805)

​

​

(81,724,575)

​

​

(64,100,396)

​

​

(327,072,852)

Net increase (decrease) from capital share transactions

​

​

(2,202,805)

​

​

(81,724,575)

​

​

(29,503,446)

​

​

(114,633,737)

Total increase (decrease) in net assets

​

​

(3,193,368)

​

​

(84,876,463)

​

​

(32,708,934)

​

​

(154,644,954)

Net Assets

​

​

​

​

​

​

​

​

​

​

​

​

Beginning of period

​

​

21,345,593

​

​

106,222,056

​

​

591,633,626

​

​

746,278,580

End of period

​

$

18,152,225

​

$

21,345,593

​

$

558,924,692

​

$

591,633,626

Changes in Shares Outstanding

​

​

​

​

​

​

​

​

​

​

​

​

Shares outstanding, beginning of period

​

​

950,000

​

​

4,250,000

​

​

18,600,000

​

​

22,200,000

Shares created

​

​

—

​

​

—

​

​

1,100,000

​

​

6,350,000

Shares redeemed

​

​

(100,000)

​

​

(3,300,000)

​

​

(2,050,000)

​

​

(9,950,000)

Shares outstanding, end of period

​

​

850,000

​

​

950,000

​

​

17,650,000

​

​

18,600,000

See notes to financial statements.

129​

Statements of Changes in Net Assets (continued)

​

IQ Global Resources ETF

IQ CBRE NextGen Real Estate ETF

​

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30, 2022

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30, 2022

Increase (Decrease) in Net Assets from Operations

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

$

994,059

​

$

919,655

​

$

625,297

​

$

774,102

Net realized gain (loss)

​

​

93,789

​

​

2,389,043

​

​

(10,354,612)

​

​

5,868,280

Net change in net unrealized appreciation (depreciation)

​

​

(3,919,197)

​

​

1,624,630

​

​

1,383,087

​

​

(6,397,027)

Net increase (decrease) in net assets resulting from operations

​

​

(2,831,349)

​

​

4,933,328

​

​

(8,346,228)

​

​

245,355

Distributions to Shareholders

​

​

(440,800)

​

​

—

​

​

(846,316)

​

​

(1,830,575)

Capital Share Transactions

​

​

​

​

​

​

​

​

​

​

​

​

Proceeds from shares created

​

​

8,695,254

​

​

14,010,013

​

​

2,239,801

​

​

8,980,685

Cost of shares redeemed

​

​

(3,159,178)

​

​

(4,893,460)

​

​

(6,328,302)

​

​

(19,486,633)

Net increase (decrease) from capital share transactions

​

​

5,536,076

​

​

9,116,553

​

​

(4,088,501)

​

​

(10,505,948)

Total increase (decrease) in net assets

​

​

2,263,927

​

​

14,049,881

​

​

(13,281,045)

​

​

(12,091,168)

Net Assets

​

​

​

​

​

​

​

​

​

​

​

​

Beginning of period

​

​

34,070,390

​

​

20,020,509

​

​

40,217,968

​

​

52,309,136

End of period

​

$

36,334,317

​

$

34,070,390

​

$

26,936,923

​

$

40,217,968

Changes in Shares Outstanding

​

​

​

​

​

​

​

​

​

​

​

​

Shares outstanding, beginning of period

​

​

1,000,000

​

​

700,000

​

​

1,650,000

​

​

2,050,000

Shares created

​

​

250,000

​

​

450,000

​

​

100,000

​

​

350,000

Shares redeemed

​

​

(100,000)

​

​

(150,000)

​

​

(300,000)

​

​

(750,000)

Shares outstanding, end of period

​

​

1,150,000

​

​

1,000,000

​

​

1,450,000

​

​

1,650,000

See notes to financial statements.

130

Statements of Changes in Net Assets (continued)

​

IQ FTSE International Equity Currency Neutral ETF

IQ Chaikin U.S. Large Cap ETF

​

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30, 2022

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30, 2022

Increase (Decrease) in Net Assets from Operations

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

$

4,256,081

​

$

8,517,908

​

$

2,229,354

​

$

3,750,247

Net realized gain (loss)

​

​

14,878,833

​

​

10,657,101

​

​

1,662,418

​

​

31,187,167

Net change in net unrealized appreciation (depreciation)

​

​

(42,223,938)

​

​

(27,937,419)

​

​

(11,642,441)

​

​

(34,780,530)

Net increase (decrease) in net assets resulting from operations

​

​

(23,089,024)

​

​

(8,762,410)

​

​

(7,750,669)

​

​

156,884

Distributions to Shareholders

​

​

(5,111,479)

​

​

(9,308,477)

​

​

(2,036,917)

​

​

(3,470,326)

Capital Share Transactions

​

​

​

​

​

​

​

​

​

​

​

​

Proceeds from shares created

​

​

38,444,622

​

​

3,703,984

​

​

4,755,604

​

​

15,815,556

Cost of shares redeemed

​

​

(10,755,813)

​

​

(30,599,986)

​

​

(23,403,172)

​

​

(11,791,217)

Net increase (decrease) from capital share transactions

​

​

27,688,809

​

​

(26,896,002)

​

​

(18,647,568)

​

​

4,024,339

Total increase (decrease) in net assets

​

​

(511,694)

​

​

(44,966,889)

​

​

(28,435,154)

​

​

710,897

Net Assets

​

​

​

​

​

​

​

​

​

​

​

​

Beginning of period

​

​

265,420,866

​

​

310,387,755

​

​

306,318,571

​

​

305,607,674

End of period

​

$

264,909,172

​

$

265,420,866

​

$

277,883,417

​

$

306,318,571

Changes in Shares Outstanding

​

​

​

​

​

​

​

​

​

​

​

​

Shares outstanding, beginning of period

​

​

11,600,000

​

​

12,750,000

​

​

9,500,000

​

​

9,400,000

Shares created

​

​

1,900,000

​

​

150,000

​

​

150,000

​

​

450,000

Shares redeemed

​

​

(500,000)

​

​

(1,300,000)

​

​

(750,000)

​

​

(350,000)

Shares outstanding, end of period

​

​

13,000,000

​

​

11,600,000

​

​

8,900,000

​

​

9,500,000

See notes to financial statements.

131​

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, 2022 (unaudited)

For the Year Ended April 30, 2022

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30, 2022

Increase (Decrease) in Net Assets from Operations

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

$

1,535,058

​

$

2,616,246

​

$

3,704,860

​

$

7,508,383

Net realized gain (loss)

​

​

3,064,390

​

​

13,283,068

​

​

1,001,772

​

​

14,746,590

Net change in net unrealized appreciation (depreciation)

​

​

2,067,592

​

​

(31,440,047)

​

​

(28,047,692)

​

​

(30,395,524)

Net increase (decrease) in net assets resulting from operations

​

​

6,667,040

​

​

(15,540,733)

​

​

(23,341,060)

​

​

(8,140,551)

Distributions to Shareholders

​

​

(1,232,326)

​

​

(2,747,303)

​

​

(4,256,448)

​

​

(8,747,984)

Capital Share Transactions

​

​

​

​

​

​

​

​

​

​

​

​

Proceeds from shares created

​

​

55,843,903

​

​

31,395,599

​

​

16,050,052

​

​

39,551,613

Cost of shares redeemed

​

​

(9,365,626)

​

​

(33,458,171)

​

​

(18,150,090)

��

​

(56,421,480)

Net increase (decrease) from capital share transactions

​

​

46,478,277

​

​

(2,062,572)

​

​

(2,100,038)

​

​

(16,869,867)

Total increase (decrease) in net assets

​

​

51,912,991

​

​

(20,350,608)

​

​

(29,697,546)

​

​

(33,758,402)

Net Assets

​

​

​

​

​

​

​

​

​

​

​

​

Beginning of period

​

​

186,308,438

​

​

206,659,046

​

​

210,577,722

​

​

244,336,124

End of period

​

$

238,221,429

​

$

186,308,438

​

$

180,880,176

​

$

210,577,722

Changes in Shares Outstanding

​

​

​

​

​

​

​

​

​

​

​

​

Shares outstanding, beginning of period

​

​

5,850,000

​

​

5,900,000

​

​

7,000,000

​

​

7,500,000

Shares created

​

​

1,750,000

​

​

900,000

​

​

600,000

​

​

1,200,000

Shares redeemed

​

​

(300,000)

​

​

(950,000)

​

​

(600,000)

​

​

(1,700,000)

Shares outstanding, end of period

​

​

7,300,000

​

​

5,850,000

​

​

7,000,000

​

​

7,000,000

See notes to financial statements.

132

Statements of Changes in Net Assets (continued)

​	IQ Candriam ESG U.S. Large Cap Equity ETF						IQ Candriam ESG U.S. Mid Cap Equity ETF
​	For the Six Months Ended October 31, 2022 (unaudited)			For the Year Ended April 30, 2022			For the Period October 25, 2022* to October 31, 2022 (unaudited)
Increase (Decrease) in Net Assets from Operations	​	​	​	​	​	​	​	​	​
Net investment income	​	$	2,820,229	​	$	5,661,377	​	$	1,845
Net realized gain (loss)	​	​	7,914,283	​	​	32,244,112	​	​	—
Net change in net unrealized appreciation (depreciation)	​	​	(38,303,571)	​	​	(33,254,201)	​	​	179,636
Net increase (decrease) in net assets resulting from operations	​	​	(27,569,059)	​	​	4,651,288	​	​	181,481
Distributions to Shareholders	​	​	(2,573,994)	​	​	(5,632,747)	​	​	—
Capital Share Transactions	​	​	​	​	​	​	​	​	​
Proceeds from shares created	​	​	25,279,988	​	​	125,093,567	​	​	5,040,057
Cost of shares redeemed	​	​	(50,935,648)	​	​	(106,279,575)	​	​	—
Net increase (decrease) from capital share transactions	​	​	(25,655,660)	​	​	18,813,992	​	​	5,040,057
Total increase (decrease) in net assets	​	​	(55,798,713)	​	​	17,832,533	​	​	5,221,538
Net Assets	​	​	​	​	​	​	​	​	​
Beginning of period	​	​	428,534,850	​	​	410,702,317	​	​	—
End of period	​	$	372,736,137	​	$	428,534,850	​	$	5,221,538
Changes in Shares Outstanding	​	​	​	​	​	​	​	​	​
Shares outstanding, beginning of period	​	​	12,050,000	​	​	11,550,000	​	​	—
Shares created	​	​	750,000	​	​	3,250,000	​	​	200,000
Shares redeemed	​	​	(1,450,000)	​	​	(2,750,000)	​	​	—
Shares outstanding, end of period	​	​	11,350,000	​	​	12,050,000	​	​	200,000

*

Commencement of operations.

See notes to financial statements.

133​

Statements of Changes in Net Assets (continued)

​

IQ Candriam ESG International Equity ETF

IQ Healthy Hearts ETF

​

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30, 2022

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30, 2022

Increase (Decrease) in Net Assets from Operations

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

$

3,105,086

​

$

5,887,425

​

$

34,312

​

$

80,647

Net realized gain (loss)

​

​

(2,182,281)

​

​

2,216,181

​

​

(308,086)

​

​

549,101

Net change in net unrealized appreciation (depreciation)

​

​

(26,268,136)

​

​

(25,216,237)

​

​

(212,036)

​

​

(247,569)

Net increase (decrease) in net assets resulting from operations

​

​

(25,345,331)

​

​

(17,112,631)

​

​

(485,810)

​

​

382,179

Distributions to Shareholders

​

​

(3,988,238)

​

​

(5,802,531)

​

​

(41,834)

​

​

(80,268)

Capital Share Transactions

​

​

​

​

​

​

​

​

​

​

​

​

Proceeds from shares created

​

​

18,117,717

​

​

48,137,169

​

​

1,282,189

​

​

4,190,216

Cost of shares redeemed

​

​

(6,369,389)

​

​

(13,374,956)

​

​

—

​

​

(4,158,314)

Net increase (decrease) from capital share transactions

​

​

11,748,328

​

​

34,762,213

​

​

1,282,189

​

​

31,902

Total increase (decrease) in net assets

​

​

(17,585,241)

​

​

11,847,051

​

​

754,545

​

​

333,813

Net Assets

​

​

​

​

​

​

​

​

​

​

​

​

Beginning of period

​

​

198,798,155

​

​

186,951,104

​

​

6,893,257

​

​

6,559,444

End of period

​

$

181,212,914

​

$

198,798,155

​

$

7,647,802

​

$

6,893,257

Changes in Shares Outstanding

​

​

​

​

​

​

​

​

​

​

​

​

Shares outstanding, beginning of period

​

​

7,600,000

​

​

6,400,000

​

​

250,000

​

​

250,000

Shares created

​

​

750,000

​

​

1,650,000

​

​

50,000

​

​

150,000

Shares redeemed

​

​

(250,000)

​

​

(450,000)

​

​

—

​

​

(150,000)

Shares outstanding, end of period

​

​

8,100,000

​

​

7,600,000

​

​

300,000

​

​

250,000

See notes to financial statements.

134

Statements of Changes in Net Assets (continued)

​

IQ Engender Equality ETF

IQ Cleaner Transport ETF

​

For the Six Months Ended October 31, 2022 (unaudited)

For the Period October 21, 2021* to April 30, 2022

For the Six Months Ended October 31, 2022 (unaudited)

For the Period October 21, 2021* to April 30, 2022

Increase (Decrease) in Net Assets from Operations

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

$

35,769

​

$

50,111

​

$

74,963

​

$

32,833

Net realized gain (loss)

​

​

(549,318)

​

​

12,314

​

​

(556,236)

​

​

(97,242)

Net change in net unrealized appreciation (depreciation)

​

​

340,818

​

​

(847,517)

​

​

(273,686)

​

​

(1,201,606)

Net increase (decrease) in net assets resulting from operations

​

​

(172,731)

​

​

(785,092)

​

​

(754,959)

​

​

(1,266,015)

Distributions to Shareholders

​

​

(38,923)

​

​

(40,598)

​

​

(69,644)

​

​

(27,324)

Capital Share Transactions

​

​

​

​

​

​

​

​

​

​

​

​

Proceeds from shares created

​

​

—

​

​

7,534,928

​

​

—

​

​

8,587,414

Cost of shares redeemed

​

​

—

​

​

(1,253,372)

​

​

(962,510)

​

​

(1,116,668)

Net increase (decrease) from capital share transactions

​

​

—

​

​

6,281,556

​

​

(962,510)

​

​

7,470,746

Total increase (decrease) in net assets

​

​

(211,654)

​

​

5,455,866

​

​

(1,787,113)

​

​

6,177,407

Net Assets

​

​

​

​

​

​

​

​

​

​

​

​

Beginning of period

​

​

5,455,866

​

​

—

​

​

6,177,407

​

​

—

End of period

​

$

5,244,212

​

$

5,455,866

​

$

4,390,294

​

$

6,177,407

Changes in Shares Outstanding

​

​

​

​

​

​

​

​

​

​

​

​

Shares outstanding, beginning of period

​

​

250,000

​

​

—

​

​

300,000

​

​

—

Shares created

​

​

—

​

​

300,000

​

​

—

​

​

350,000

Shares redeemed

​

​

—

​

​

(50,000)

​

​

(50,000)

​

​

(50,000)

Shares outstanding, end of period

​

​

250,000

​

​

250,000

​

​

250,000

​

​

300,000

*

Commencement of operations.

See notes to financial statements.

135​

Statements of Changes in Net Assets (continued)

​

IQ Clean Oceans ETF

IQ Global Equity R&D Leaders ETF

​

For the Six Months Ended October 31, 2022 (unaudited)

For the Period October 21, 2021* to April 30, 2022

For the Six Months Ended October 31, 2022 (unaudited)

For the Period February 9, 2022* to April 30, 2022

Increase (Decrease) in Net Assets from Operations

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

$

38,733

​

$

51,936

​

$

44,874

​

$

23,275

Net realized gain (loss)

​

​

(631,944)

​

​

11,942

​

​

(117,525)

​

​

(4,103)

Net change in net unrealized appreciation (depreciation)

​

​

(204,573)

​

​

(912,579)

​

​

(516,265)

​

​

(553,303)

Net increase (decrease) in net assets resulting from operations

​

​

(797,784)

​

​

(848,701)

​

​

(588,916)

​

​

(534,131)

Distributions to Shareholders

​

​

(46,365)

​

​

(34,323)

​

​

(48,654)

​

​

(11,114)

Capital Share Transactions

​

​

​

​

​

​

​

​

​

​

​

​

Proceeds from shares created

​

​

—

​

​

7,404,302

​

​

—

​

​

6,223,519

Cost of shares redeemed

​

​

—

​

​

(1,264,476)

​

​

—

​

​

(1,220,944)

Net increase (decrease) from capital share transactions

​

​

—

​

​

6,139,826

​

​

—

​

​

5,002,575

Total increase (decrease) in net assets

​

​

(844,149)

​

​

5,256,802

​

​

(637,570)

​

​

4,457,330

Net Assets

​

​

​

​

​

​

​

​

​

​

​

​

Beginning of period

​

​

5,256,802

​

​

—

​

​

4,457,330

​

​

—

End of period

​

$

4,412,653

​

$

5,256,802

​

$

3,819,760

​

$

4,457,330

Changes in Shares Outstanding

​

​

​

​

​

​

​

​

​

​

​

​

Shares outstanding, beginning of period

​

​

250,000

​

​

—

​

​

200,000

​

​

—

Shares created

​

​

—

​

​

300,000

​

​

—

​

​

250,000

Shares redeemed

​

​

—

​

​

(50,000)

​

​

—

​

​

(50,000)

Shares outstanding, end of period

​

​

250,000

​

​

250,000

​

​

200,000

​

​

200,000

*

Commencement of operations.

See notes to financial statements.

136

Statements of Changes in Net Assets (continued)

​

IQ U.S. Large Cap R&D Leaders ETF

IQ U.S. Mid Cap R&D Leaders ETF

​

For the Six Months Ended October 31, 2022 (unaudited)

For the Period February 9, 2022* to April 30, 2022

For the Six Months Ended October 31, 2022 (unaudited)

For the Period February 9, 2022* to April 30, 2022

Increase (Decrease) in Net Assets from Operations

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

$

27,806

​

$

13,366

​

$

15,506

​

$

6,772

Net realized gain (loss)

​

​

(75,297)

​

​

44,314

​

​

(279,337)

​

​

76,601

Net change in net unrealized appreciation (depreciation)

​

​

(361,976)

​

​

(542,222)

​

​

(129,344)

​

​

(602,359)

Net increase (decrease) in net assets resulting from operations

​

​

(409,467)

​

​

(484,542)

​

​

(393,175)

​

​

(518,986)

Distributions to Shareholders

​

​

(29,236)

​

​

(8,288)

​

​

(14,558)

​

​

(6,272)

Capital Share Transactions

​

​

​

​

​

​

​

​

​

​

​

​

Proceeds from shares created

​

​

—

​

​

6,245,569

​

​

—

​

​

6,290,485

Cost of shares redeemed

​

​

—

​

​

(1,258,771)

​

​

—

​

​

(1,266,526)

Net increase (decrease) from capital share transactions

​

​

—

​

​

4,986,798

​

​

—

​

​

5,023,959

Total increase (decrease) in net assets

​

​

(438,703)

​

​

4,493,968

​

​

(407,733)

​

​

4,498,701

Net Assets

​

​

​

​

​

​

​

​

​

​

​

​

Beginning of period

​

​

4,493,968

​

​

—

​

​

4,498,701

​

​

—

End of period

​

$

4,055,265

​

$

4,493,968

​

$

4,090,968

​

$

4,498,701

Changes in Shares Outstanding

​

​

​

​

​

​

​

​

​

​

​

​

Shares outstanding, beginning of period

​

​

200,000

​

​

—

​

​

200,000

​

​

—

Shares created

​

​

—

​

​

250,000

​

​

—

​

​

250,000

Shares redeemed

​

​

—

​

​

(50,000)

​

​

—

​

​

(50,000)

Shares outstanding, end of period

​

​

200,000

​

​

200,000

​

​

200,000

​

​

200,000

*

Commencement of operations.

See notes to financial statements.

137​

Financial Highlights 

Selected Data for a Share of Capital Stock Outstanding

​

IQ Hedge Multi-Strategy Tracker ETF

​

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30,

​

2022

2021

2020

2019

2018

Net asset value, beginning of period

​

$

29.76

​

$

32.02

​

$

29.41

​

$

30.29

​

$

30.39

​

$

29.15

Income from Investment Operations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income(a)(b)

​

​

0.32

​

​

0.41

​

​

0.42

​

​

0.75

​

​

0.72

​

​

0.56

Net realized and unrealized gain (loss)

​

​

(1.93)

​

​

(2.65)

​

​

2.79

​

​

(1.04)

​

​

(0.27)

​

​

0.68

Distributions of net realized gains from investments in other investment companies

​

​

—

​

​

0.07

​

​

0.03

​

​

0.00(c)

​

​

—

​

​

0.00(c)

Net increase (decrease) in net assets resulting from investment operations

​

​

(1.61)

​

​

(2.17)

​

​

3.24

​

​

(0.29)

​

​

0.45

​

​

1.24

Distributions from:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

​

—

​

​

(0.09)

​

​

(0.63)

​

​

(0.59)

​

​

(0.55)

​

​

—

Net asset value, end of period

​

$

28.15

​

$

29.76

​

$

32.02

​

$

29.41

​

$

30.29

​

$

30.39

Market price, end of period

​

$

28.12

​

$

29.75

​

$

32.01

​

$

29.34

​

$

30.28

​

$

30.38

Total Return

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total investment return based on net asset value(d)

​

​

(5.39)%

​

​

(6.80)%

​

​

11.01%

​

​

(1.04)%

​

​

1.56%

​

​

4.24%

Total investment return based on market price(e)

​

​

(5.48)%

​

​

(6.80)%

​

​

11.26%

​

​

(1.26)%

​

​

1.56%

​

​

4.22%

Ratios/Supplemental Data

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net assets, end of period (000’s omitted)

​

$

648,938

​

$

757,270

​

$

795,577

​

$

739,660

​

$

993,422

​

$

1,124,278

Ratio to average net assets of:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expenses net of waivers/​ reimbursements(f)

​

​

0.56%(g)

​

​

0.54%

​

​

0.54%

​

​

0.54%

​

​

0.54%

​

​

0.64%

Expenses excluding waivers/​ reimbursements(f)

​

​

0.78%(g)

​

​

0.76%

​

​

0.76%

​

​

0.76%

​

​

0.76%

​

​

0.76%

Net investment income (loss)(b)

​

​

2.18%(g)

​

​

1.29%

​

​

1.35%

​

​

2.49%

​

​

2.40%

​

​

1.87%

Portfolio turnover rate(h)

​

​

(55)%

​

​

138%

​

​

163%

​

​

166%

​

​

137%

​

​

164%

(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.

138

Financial Highlights (continued)

Selected Data for a Share of Capital Stock Outstanding

​

IQ Hedge Macro Tracker ETF

​

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30,

​

2022

2021

2020

2019

2018

Net asset value, beginning of period

​

$

26.32

​

$

28.48

​

$

25.52

​

$

26.26

​

$

26.35

​

$

25.46

Income from Investment Operations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income(a)(b)

​

​

0.23

​

​

0.37

​

​

0.34

​

​

0.56

​

​

0.44

​

​

0.39

Net realized and unrealized gain (loss)

​

​

(1.86)

​

​

(2.63)

​

​

3.30

​

​

(0.94)

​

​

(0.25)

​

​

0.50

Distributions of net realized gains from investments in other investment companies

​

​

—

​

​

0.10

​

​

0.03

​

​

—

​

​

—

​

​

0.00(c)

Net increase (decrease) in net assets resulting from investment operations

​

​

(1.63)

​

​

(2.16)

​

​

3.67

​

​

(0.38)

​

​

0.19

​

​

0.89

Distributions from:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

​

—

​

​

—

​

​

(0.71)

​

​

(0.36)

​

​

(0.28)

​

​

—

Net asset value, end of period

​

$

24.69

​

$

26.32

​

$

28.48

​

$

25.52

​

$

26.26

​

$

26.35

Market price, end of period

​

$

24.68

​

$

26.28

​

$

28.48

​

$

25.36

​

$

26.24

​

$

26.34

Total Return

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total investment return based on net asset value(d)

​

​

(6.18)%

​

​

(7.60)%

​

​

14.44%

​

​

(1.51)%

​

​

0.77%

​

​

3.50%

Total investment return based on market price(e)

​

​

(6.09)%

​

​

(7.73)%

​

​

15.13%

​

​

(2.04)%

​

​

0.74%

​

​

3.54%

Ratios/Supplemental Data

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net assets, end of period (000’s omitted)

​

$

2,469

​

$

3,948

​

$

4,272

​

$

3,827

​

$

5,251

​

$

6,588

Ratio to average net assets of:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expenses net of waivers/reimbursements(f)

​

​

0.45%(g)

​

​

0.41%

​

​

0.41%

​

​

0.54%

​

​

0.76%

​

​

0.75%

Expenses excluding waivers/ reimbursements(f)

​

​

0.70%(g)

​

​

0.76%

​

​

0.76%

​

​

0.76%

​

​

0.76%

​

​

0.75%

Net investment income (loss)(b)

​

​

1.75%(g)

​

​

1.31%

​

​

1.23%

​

​

2.13%

​

​

1.70%

​

​

1.47%

Portfolio turnover rate(h)

​

​

61%

​

​

83%

​

​

104%

​

​

104%

​

​

82%

​

​

152%

(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.

139​

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, 2022 (unaudited)

For the Year Ended April 30,

​

2022

2021

2020

2019

2018

Net asset value, beginning of period

​

$

25.80

​

$

27.30

​

$

25.65

​

$

26.23

​

$

25.58

​

$

25.25

Income from Investment Operations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income(a)(b)

​

​

0.52

​

​

0.42

​

​

0.40

​

​

0.62

​

​

0.55

​

​

0.41

Net realized and unrealized gain (loss)

​

​

(1.36)

​

​

(2.06)

​

​

1.79

​

​

(0.76)

​

​

0.10

​

​

(0.08)

Distributions of net realized gains from investments in other investment companies

​

​

—

​

​

0.14

​

​

0.03

​

​

—

​

​

—

​

​

—

Net increase (decrease) in net assets resulting from investment operations

​

​

(0.84)

​

​

(1.50)

​

​

2.22

​

​

(0.14)

​

​

0.65

​

​

0.33

Distributions from:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

​

—

​

​

—

​

​

(0.57)

​

​

(0.44)

​

​

—

​

​

—

Net asset value, end of period

​

$

24.96

​

$

25.80

​

$

27.30

​

$

25.65

​

$

26.23

​

$

25.58

Market price, end of period

​

$

24.95

​

$

25.79

​

$

27.30

​

$

25.63

​

$

26.23

​

$

25.58

Total Return

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total investment return based on net asset value(c)

​

​

(3.27)%

​

​

(5.51)%

​

​

8.65%

​

​

(0.62)%

​

​

2.56%

​

​

1.29%

Total investment return based on market price(d)

​

​

(3.26)%

​

​

(5.53)%

​

​

8.74%

​

​

(0.69)%

​

​

2.54%

​

​

1.31%

Ratios/Supplemental Data

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net assets, end of period (000’s omitted)

​

$

6,240

​

$

16,767

​

$

17,745

​

$

17,956

​

$

15,741

​

$

12,790

Ratio to average net assets of:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expenses net of waivers/ reimbursements(e)

​

​

0.45%(f)

​

​

0.41%

​

​

0.41%

​

​

0.53%

​

​

0.76%

​

​

0.76%

Expenses excluding waivers/ reimbursements(e)

​

​

0.71%(f)

​

​

0.76%

​

​

0.76%

​

​

0.76%

​

​

0.76%

​

​

0.76%

Net investment income (loss)(b)

​

​

4.04%(f)

​

​

1.54%

​

​

1.51%

​

​

2.36%

​

​

2.15%

​

​

1.61%

Portfolio turnover rate(g)

​

​

64%

​

​

135%

​

​

116%

​

​

77%

​

​

107%

​

​

165%

(a)

Based on average shares outstanding.

(b)

Recognition of net investment income by the Fund is affected by the timing of the declaration of dividends by the investment companies in which the Fund invests.

(c)

Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions, if any, at net asset value during the period, and redemption on the last day of the period. Total return calculated for a period less than one year is not annualized.

(d)

The market price returns are calculated using the mean between the last bid and ask prices.

(e)

In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios.

(f)

Annualized.

(g)

Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as in-kind creations or redemptions in connection with the Fund’s capital share transactions.

See notes to financial statements.

140

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, 2022 (unaudited)

For the Year Ended April 30,

​

2022

2021

2020

2019

2018

Net asset value, beginning of period

​

$

25.12

​

$

26.52

​

$

21.40

​

$

21.53

​

$

21.91

​

$

20.36

Income from Investment Operations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income(a)(b)

​

​

0.33

​

​

0.51

​

​

0.44

​

​

0.51

​

​

0.44

​

​

0.41

Net realized and unrealized gain (loss)

​

​

(1.81)

​

​

(1.79)

​

​

5.19

​

​

(0.29)

​

​

0.13

​

​

1.22

Distributions of net realized gains from investments in other investment companies

​

​

—

​

​

0.04

​

​

0.01

​

​

—

​

​

—

​

​

0.00(c)

Net increase (decrease) in net assets resulting from investment operations

​

​

(1.48)

​

​

(1.24)

​

​

5.64

​

​

0.22

​

​

0.57

​

​

1.63

Distributions from:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

​

—

​

​

(0.16)

​

​

(0.52)

​

​

(0.35)

​

​

(0.95)

​

​

(0.08)

Net asset value, end of period

​

$

23.64

​

$

25.12

​

$

26.52

​

$

21.40

​

$

21.53

​

$

21.91

Market price, end of period

​

$

23.64

​

$

25.13

​

$

26.53

​

$

21.52

​

$

21.54

​

$

21.93

Total Return

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total investment return based on net asset value(d)

​

​

(5.90)%

​

​

(4.74)%

​

​

26.42%

​

​

0.93%

​

​

3.07%

​

​

8.02%

Total investment return based on market price(e)

​

​

(5.93)%

​

​

(4.75)%

​

​

25.76%

​

​

1.46%

​

​

2.91%

​

​

8.23%

Ratios/Supplemental Data

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net assets, end of period (000’s omitted)

​

$

20,096

​

$

20,099

​

$

9,282

​

$

10,699

​

$

6,459

​

$

8,764

Ratio to average net assets of:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expenses net of waivers/ reimbursements(f)

​

​

0.44%(g)

​

​

0.41%

​

​

0.41%

​

​

0.51%

​

​

0.76%

​

​

0.76%

Expenses excluding waivers/ reimbursements(f)

​

​

0.67%(g)

​

​

0.76%

​

​

0.76%

​

​

0.76%

​

​

0.76%

​

​

0.76%

Net investment income (loss)(b)

​

​

2.71%(g)

​

​

1.88%

​

​

1.80%

​

​

2.35%

​

​

2.06%

​

​

1.89%

Portfolio turnover rate(h)

​

​

29%

​

​

71%

​

​

156%

​

​

136%

​

​

95%

​

​

77%

(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.

141​

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, 2022 (unaudited)

For the Year Ended April 30,

​

2022

2021

2020

2019

2018

Net asset value, beginning of period

​

$

21.52

​

$

23.72

​

$

20.88

​

$

21.26

​

$

20.93

​

$

20.59

Income from Investment Operations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income(a)(b)

​

​

0.27

​

​

0.44

​

​

0.50

​

​

0.73

​

​

0.74

​

​

0.55

Net realized and unrealized gain (loss)

​

​

(1.17)

​

​

(2.38)

​

​

3.39

​

​

(0.66)

​

​

0.46

​

​

0.26

Distributions of net realized gains from investments in other investment companies

​

​

—

​

​

0.05

​

​

0.00(c)

​

​

—

​

​

—

​

​

—

Net increase (decrease) in net assets resulting from investment operations

​

​

(0.90)

​

​

(1.89)

​

​

3.89

​

​

0.07

​

​

1.20

​

​

0.81

Distributions from:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

​

—

​

​

(0.31)

​

​

(1.05)

​

​

(0.45)

​

​

(0.87)

​

​

(0.47)

Net asset value, end of period

​

$

20.62

​

$

21.52

​

$

23.72

​

$

20.88

​

$

21.26

​

$

20.93

Market price, end of period

​

$

20.63

​

$

21.52

​

$

23.73

​

$

20.86

​

$

21.27

​

$

20.93

Total Return

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total investment return based on net asset value(d)

​

​

(4.19)%

​

​

(8.05)%

​

​

18.65%

​

​

0.25%

​

​

6.12%

​

​

3.93%

Total investment return based on market price(e)

​

​

(4.14)%

​

​

(8.09)%

​

​

18.86%

​

​

0.11%

​

​

6.13%

​

​

3.94%

Ratios/Supplemental Data

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net assets, end of period (000’s omitted)

​

$

6,185

​

$

8,607

​

$

9,487

​

$

8,354

​

$

4,253

​

$

3,139

Ratio to average net assets of:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expenses net of waivers/reimbursements(f)

​

​

0.45%(g)

​

​

0.41%

​

​

0.41%

​

​

0.50%

​

​

0.76%

​

​

0.76%

Expenses excluding waivers/ reimbursements(f)

​

​

0.70%(g)

​

​

0.76%

​

​

0.76%

​

​

0.76%

​

​

0.76%

​

​

0.76%

Net investment income (loss)(b)

​

​

2.58%(g)

​

​

1.90%

​

​

2.19%

​

​

3.48%

​

​

3.54%

​

​

2.64%

Portfolio turnover rate(h)

​

​

42%

​

​

50%

​

​

69%

​

​

77%

​

​

34%

​

​

41%

(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.

142

Financial Highlights (continued)

Selected Data for a Share of Capital Stock Outstanding

​

IQ Real Return ETF

​

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30,

​

2022

2021

2020

2019

2018

Net asset value, beginning of period

​

$

26.86

​

$

27.30

​

$

26.94

​

$

27.83

​

$

27.47

​

$

27.25

Income from Investment Operations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income(a)(b)

​

​

0.66

​

​

0.22

​

​

0.15

​

​

0.54

​

​

0.49

​

​

0.30

Net realized and unrealized gain (loss)

​

​

(2.10)

​

​

(0.57)

​

​

0.44

​

​

(0.84)

​

​

0.22

​

​

0.21

Distributions of net realized gains from investments in other investment companies

​

​

—

​

​

0.11

​

​

0.04

​

​

0.00(c)

​

​

—

​

​

0.00(c)

Net increase (decrease) in net assets resulting from investment operations

​

​

(1.44)

​

​

(0.24)

​

​

0.63

​

​

(0.30)

​

​

0.71

​

​

0.51

Distributions from:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

​

(0.54)

​

​

(0.20)

​

​

(0.27)

​

​

(0.59)

​

​

(0.35)

​

​

(0.29)

Net asset value, end of period

​

$

24.88

​

$

26.86

​

$

27.30

​

$

26.94

​

$

27.83

​

$

27.47

Market price, end of period

​

$

24.85

​

$

26.89

​

$

27.29

​

$

26.86

​

$

27.80

​

$

27.47

Total Return

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total investment return based on net asset value(d)

​

​

(5.47)%

​

​

(0.90)%

​

​

2.33%

​

​

(1.13)%

​

​

2.64%

​

​

1.89%

Total investment return based on market price(e)

​

​

(5.65)%

​

​

(0.77)%

​

​

2.60%

​

​

(1.33)%

​

​

2.53%

​

​

1.81%

Ratios/Supplemental Data

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net assets, end of period (000’s omitted)

​

$

8,709

​

$

26,856

​

$

53,235

​

$

51,188

​

$

57,046

​

$

45,319

Ratio to average net assets of:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expenses net of waivers/ reimbursements(f)

​

​

0.28%(g)

​

​

0.21%

​

​

0.21%

​

​

0.21%

​

​

0.37%

​

​

0.49%

Expenses excluding waivers/ reimbursements(f)

​

​

0.34%(g)

​

​

0.47%

​

​

0.49%

​

​

0.49%

​

​

0.49%

​

​

0.49%

Net investment income (loss)(b)

​

​

4.98%(g)

​

​

0.78%

​

​

0.56%

​

​

1.95%

​

​

1.77%

​

​

1.10%

Portfolio turnover rate(h)

​

​

8%

​

​

114%

​

​

66%

​

​

68%

​

​

97%

​

​

101%

(a)

Based on average shares outstanding.

(b)

Recognition of net investment income by the Fund is affected by the timing of the declaration of dividends by the investment companies in which the Fund invests.

(c)

Less than $0.005 per share.

(d)

Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions, if any, at net asset value during the period, and redemption on the last day of the period. 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.

143​

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, 2022 (unaudited)

For the Year Ended April 30,

​

2022

2021

2020

2019

2018

Net asset value, beginning of period

​

$

22.47

​

$

24.99

​

$

23.86

​

$

24.76

​

$

24.36

​

$

25.20

Income from Investment Operations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income(a)(b)

​

​

0.47

​

​

0.80

​

​

0.93

​

​

1.01

​

​

1.07

​

​

0.99

Net realized and unrealized gain (loss)

​

​

(1.09)

​

​

(2.40)

​

​

1.16

​

​

(0.81)

​

​

0.41

​

​

(0.88)

Net increase (decrease) in net assets resulting from investment operations

​

​

(0.63)

​

​

(1.60)

​

​

2.09

​

​

0.20

​

​

1.48

​

​

0.11

Distributions from:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

​

(0.49)

​

​

(0.92)

​

​

(0.96)

​

​

(1.10)

​

​

(1.08)

​

​

(0.95)

Net asset value, end of period

​

$

21.36

​

$

22.47

​

$

24.99

​

$

23.86

​

$

24.76

​

$

24.36

Market price, end of period

​

$

21.37

​

$

22.31

​

$

25.02

​

$

24.03

​

$

24.78

​

$

24.32

Total Return

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total investment return based on net asset value(c)

​

​

(2.83)%

​

​

(6.67)%

​

​

8.89%

​

​

0.71%

​

​

6.31%

​

​

0.39%

Total investment return based on market price(d)

​

​

(2.03)%

​

​

(7.44)%

​

​

8.23%

​

​

1.34%

​

​

6.56%

​

​

(0.36)%

Ratios/Supplemental Data

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net assets, end of period (000’s omitted)

​

$

18,152

​

$

21,346

​

$

106,222

​

$

51,295

​

$

65,626

​

$

107,192

Ratio to average net assets of:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expenses net of waivers/ reimbursements(e)

​

​

0.42%(f)

​

​

0.40%

​

​

0.40%

​

​

0.40%

​

​

0.40%

​

​

0.40%

Expenses excluding waivers/ reimbursements(e)

​

​

0.44%(f)

​

​

0.41%

​

​

0.41%

​

​

0.41%

​

​

0.41%

​

​

0.41%

Net investment income (loss)(b)

​

​

4.29%(f)

​

​

3.23%

​

​

3.72%

​

​

4.04%

​

​

4.42%

​

​

3.97%

Portfolio turnover rate(g)

​

​

49%

​

​

99%

​

​

105%

​

​

105%

​

​

83%

​

​

75%

(a)

Based on average shares outstanding.

(b)

Recognition of net investment income by the Fund is affected by the timing of the declaration of dividends by the investment companies in which the Fund invests.

(c)

Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions, if any, at net asset value during the period, and redemption on the last day of the period. Total return calculated for a period less than one year is not annualized.

(d)

The market price returns are calculated using the mean between the last bid and ask prices.

(e)

In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios.

(f)

Annualized.

(g)

Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as in-kind creations or redemptions in connection with the Fund’s capital share transactions.

See notes to financial statements.

144

Financial Highlights (continued)

Selected Data for a Share of Capital Stock Outstanding

​

IQ Merger Arbitrage ETF

​

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30,

​

2022

2021

2020

2019

2018

Net asset value, beginning of period

​

$

31.81

​

$

33.62

​

$

31.53

​

$

31.50

​

$

30.72

​

$

30.21

Income from Investment Operations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income(a)(b)

​

​

0.30

​

​

0.09

​

​

0.31

​

​

0.14

​

​

0.07

​

​

0.10

Net realized and unrealized gain (loss)

​

​

(0.44)

​

​

(1.90)

​

​

2.55

​

​

(0.11)

​

​

0.71

​

​

0.41(c)

Distributions of net realized gains from investments in other investment companies

​

​

—

​

​

0.00(d)

​

​

0.00(d)

​

​

0.00(d)

​

​

—

​

​

—

Net increase (decrease) in net assets resulting from investment operations

​

​

(0.14)

​

​

(1.81)

​

​

2.86

​

​

0.03

​

​

0.78

​

​

0.51

Distributions from:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

​

—

​

​

—

​

​

(0.77)

​

​

—

​

​

—

​

​

—

Net asset value, end of period

​

$

31.67

​

$

31.81

​

$

33.62

​

$

31.53

​

$

31.50

​

$

30.72

Market price, end of period

​

$

31.60

​

$

31.78

​

$

33.67

​

$

31.45

​

$

31.48

​

$

30.75

Total Return

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total investment return based on net asset value(e)

​

​

(0.45)%

​

​

(5.38)%

​

​

9.07%

​

​

0.10%

​

​

2.52%

​

​

1.69%

Total investment return based on market price(f)

​

​

(0.57)%

​

​

(5.61)%

​

​

9.53%

​

​

(0.10)%

​

​

2.37%

​

​

1.59%

Ratios/Supplemental Data

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net assets, end of period (000’s omitted)

​

$

558,925

​

$

591,634

​

$

746,279

​

$

723,582

​

$

985,800

​

$

525,386

Ratio to average net assets of:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expenses(g)

​

​

0.78%(h)

​

​

0.76%

​

​

0.76%

​

​

0.76%

​

​

0.76%

​

​

0.76%

Net investment income (loss)(b)

​

​

1.90%(h)

​

​

0.28%

​

​

0.94%

​

​

0.42%

​

​

0.21%

​

​

0.34%

Portfolio turnover rate(i)

​

​

142%

​

​

314%

​

​

313%

​

​

308%

​

​

337%

​

​

329%

(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)

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.

(d)

Less than $0.005 per share.

(e)

Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions, if any, at net asset value during the period, and redemption on the last day of the period. Total return calculated for a period less than one year is not annualized.

(f)

The market price returns are calculated using the mean between the last bid and ask prices.

(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.

145​

Financial Highlights (continued)

Selected Data for a Share of Capital Stock Outstanding

​

IQ Global Resources ETF

​

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30,

​

2022

2021

2020

2019

2018

Net asset value, beginning of period

​

$

34.07

​

$

28.60

​

$

24.16

​

$

26.97

​

$

27.76

​

$

25.82

Income from Investment Operations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income(a)(b)

​

​

0.82

​

​

1.05

​

​

0.71

​

​

0.66

​

​

0.65

​

​

0.68

Net realized and unrealized gain (loss)

​

​

(2.94)

​

​

4.42

​

​

6.27

​

​

(3.00)

​

​

(1.24)

​

​

1.26

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

​

​

(2.12)

​

​

5.47

​

​

6.99

​

​

(2.34)

​

​

(0.59)

​

​

1.94

Distributions from:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

​

(0.35)

​

​

—

​

​

(2.55)

​

​

(0.47)

​

​

(0.20)

​

​

—

Net asset value, end of period

​

$

31.60

​

$

34.07

​

$

28.60

​

$

24.16

​

$

26.97

​

$

27.76

Market price, end of period

​

$

31.56

​

$

33.92

​

$

28.55

​

$

23.99

​

$

27.06

​

$

27.65

Total Return

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total investment return based on net asset value(d)

​

​

(6.20)%

​

​

19.11%

​

​

30.07%

​

​

(8.89)%

​

​

(2.08)%

​

​

7.50%

Total investment return based on market price(e)

​

​

(5.88)%

​

​

18.81%

​

​

30.76%

​

​

(9.81)%

​

​

(1.38)%

​

​

6.55%

Ratios/Supplemental Data

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net assets, end of period (000’s omitted)

​

$

36,334

​

$

34,070

​

$

20,021

​

$

22,948

​

$

175,312

​

$

238,712

Ratio to average net assets of:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expenses net of waivers/ reimbursements(f)

​

​

0.32%(g)

​

​

0.43%

​

​

0.76%

​

​

0.76%

​

​

0.76%

​

​

0.76%

Expenses excluding waivers/ reimbursements(f)

​

​

0.33%(g)

​

​

0.43%

​

​

0.76%

​

​

0.76%

​

​

0.76%

​

​

0.76%

Net investment income (loss)(b)

​

​

5.17%(g)

​

​

3.40%

​

​

2.70%

​

​

2.48%

​

​

2.37%

​

​

2.51%

Portfolio turnover rate(h)

​

​

8%

​

​

77%

​

​

98%

​

​

100%

​

​

132%

​

​

235%

(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.

146

Financial Highlights (continued)

Selected Data for a Share of Capital Stock Outstanding

​

IQ CBRE NextGen Real Estate ETF

​

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30,

​

2022

2021

2020

2019

2018

Net asset value, beginning of period

​

$

24.37

​

$

25.52

​

$

17.32

​

$

25.13

​

$

24.14

​

$

27.14

Income from Investment Operations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income(a)(b)

​

​

0.40

​

​

0.41

​

​

0.33

​

​

0.66

​

​

0.79

​

​

0.88

Net realized and unrealized gain (loss)

​

​

(5.64)

​

​

(0.58)

​

​

8.67

​

​

(7.16)

​

​

1.81

​

​

(2.53)

Net increase (decrease) in net assets resulting from investment operations

​

​

(5.24)

​

​

(0.17)

​

​

9.00

​

​

(6.50)

​

​

2.60

​

​

(1.65)

Distributions from:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

​

(0.55)

​

​

(0.98)

​

​

(0.32)

​

​

(0.62)

​

​

(0.78)

​

​

(0.85)

Return of capital

​

​

—

​

​

—

​

​

(0.48)

​

​

(0.69)

​

​

(0.83)

​

​

(0.50)

Total distributions from net investment income and return of capital

​

​

(0.55)

​

​

(0.98)

​

​

(0.80)

​

​

(1.31)

​

​

(1.61)

​

​

(1.35)

Net asset value, end of period

​

$

18.58

​

$

24.37

​

$

25.52

​

$

17.32

​

$

25.13

​

$

24.14

Market price, end of period

​

$

18.56

​

$

24.35

​

$

25.51

​

$

17.30

​

$

25.12

​

$

24.12

Total Return

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total investment return based on net asset value(c)

​

​

(21.77)%

​

​

(0.76)%

​

​

53.54%

​

​

(27.15)%

​

​

11.16%

​

​

(6.37)%

Total investment return based on market price(d)

​

​

(21.75)%

​

​

(0.84)%

​

​

53.68%

​

​

(27.21)%

​

​

11.24%

​

​

(6.49)%

Ratios/Supplemental Data

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net assets, end of period (000’s omitted)

​

$

26,937

​

$

40,218

​

$

52,309

​

$

40,702

​

$

71,615

​

$

82,089

Ratio to average net assets of:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expenses net of waivers/ reimbursements(e)

​

​

0.70%(f)

​

​

0.70%

​

​

0.70%

​

​

0.70%

​

​

0.70%

​

​

0.70%

Expenses excluding waivers/ reimbursements(e)

​

​

0.70%(f)

​

​

—%

​

​

—%

​

​

—%

​

​

—%

​

​

—%

Net investment income (loss)(b)

​

​

3.66%(f)

​

​

1.58%

​

​

1.66%

​

​

2.72%

​

​

3.11%

​

​

3.36%

Portfolio turnover rate(g)

​

​

106%

​

​

31%

​

​

38%

​

​

26%

​

​

26%

​

​

27%

(a)

Based on average shares outstanding.

(b)

Recognition of net investment income by the Fund is affected by the timing of the declaration of dividends by the investment companies in which the Fund invests.

(c)

Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions, if any, at net asset value during the period, and redemption on the last day of the period. Total return calculated for a period less than one year is not annualized.

(d)

The market price returns are calculated using the mean between the last bid and ask prices.

(e)

In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a prorated share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios.

(f)

Annualized.

(g)

Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as in-kind creations or redemptions in connection with the Fund’s capital share transactions.

See notes to financial statements.

147​

Financial Highlights (continued)

Selected Data for a Share of Capital Stock Outstanding

​

IQ FTSE International Equity Currency Neutral ETF

​

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30,

​

2022

2021

2020

2019

2018

Net asset value, beginning of period

​

$

22.88

​

$

24.34

​

$

18.02

​

$

20.59

​

$

21.63

​

$

19.68

Income from Investment Operations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income(a)(b)

​

​

0.37

​

​

0.67

​

​

0.51

​

​

0.56

​

​

0.62

​

​

0.60

Net realized and unrealized gain (loss)

​

​

(2.42)

​

​

(1.40)

​

​

6.28

​

​

(2.51)

​

​

(0.77)

​

​

1.89

Net increase (decrease) in net assets resulting from investment operations

​

​

(2.05)

​

​

(0.73)

​

​

6.79

​

​

(1.95)

​

​

(0.15)

​

​

2.49

Distributions from:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

​

(0.45)

​

​

(0.73)

​

​

(0.47)

​

​

(0.62)

​

​

(0.70)

​

​

(0.54)

Net realized gain

​

​

—

​

​

—

​

​

—

​

​

—

​

​

(0.19)

​

​

0.00(c)

Total distributions from net investment income and realized gains

​

​

(0.45)

​

​

(0.73)

​

​

(0.47)

​

​

(0.62)

​

​

(0.89)

​

​

(0.54)

Net asset value, end of period

​

$

20.38

​

$

22.88

​

$

24.34

​

$

18.02

​

$

20.59

​

$

21.63

Market price, end of period

​

$

20.39

​

$

22.60

​

$

24.36

​

$

17.83

​

$

20.65

​

$

21.60

Total Return

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total investment return based on net asset value(d)

​

​

(9.01)%

​

​

(3.16)%

​

​

38.14%

​

​

(9.74)%

​

​

(0.42)%

​

​

12.84%

Total investment return based on market price(e)

​

​

(7.82)%

​

​

(4.45)%

​

​

39.70%

​

​

(10.94)%

​

​

(0.03)%

​

​

12.28%

Ratios/Supplemental Data

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net assets, end of period (000’s omitted)

​

$

264,909

​

$

265,421

​

$

310,388

​

$

249,575

​

$

281,079

​

$

578,517

Ratio to average net assets of:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expenses net of waivers/ reimbursements(f)

​

​

0.21%(g)

​

​

0.20%

​

​

0.20%

​

​

0.20%

​

​

0.20%

​

​

0.22%

Expenses excluding waivers/ reimbursements(f)

​

​

0.32%(g)

​

​

0.36%

​

​

0.36%

​

​

0.36%

​

​

0.36%

​

​

0.36%

Net investment income (loss)(b)

​

​

3.46%(g)

​

​

2.72%

​

​

2.41%

​

​

2.78%

​

​

3.03%

​

​

2.87%

Portfolio turnover rate(h)

​

​

5%

​

​

10%

​

​

10%

​

​

8%

​

​

13%

​

​

10%

(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.

148

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, 2022 (unaudited)

For the Year Ended April 30,

For the Period December 13, 2017(a) to April 30, 2018

​

2022

2021

2020

2019

Net asset value, beginning of period

​

$

32.24

​

$

32.51

​

$

21.95

​

$

24.75

​

$

25.30

​

$

25.05

Income from Investment Operations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income(b)(c)

​

​

0.24

​

​

0.40

​

​

0.38

​

​

0.58

​

​

0.48

​

​

0.15

Net realized and unrealized gain (loss)

​

​

(1.04)

​

​

(0.30)

​

​

10.60

​

​

(2.80)

​

​

(0.53)

​

​

0.18(d)

Net increase (decrease) in net assets resulting from investment operations

​

​

(0.80)

​

​

0.10

​

​

10.98

​

​

(2.22)

​

​

(0.05)

​

​

0.33

Distributions from:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

​

(0.22)

​

​

(0.37)

​

​

(0.42)

​

​

(0.58)

​

​

(0.50)

​

​

(0.08)

Net asset value, end of period

​

$

31.22

​

$

32.24

​

$

32.51

​

$

21.95

​

$

24.75

​

$

25.30

Market price, end of period

​

$

31.22

​

$

32.25

​

$

32.54

​

$

21.92

​

$

24.75

​

$

25.30

Total Return

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total investment return based on net asset value(e)

​

​

(2.46)%

​

​

0.24%

​

​

50.46%

​

​

(9.04)%

​

​

(0.13)%

​

​

1.31%

Total investment return based on market price(f)

​

​

(2.47)%

​

​

0.17%

​

​

50.82%

​

​

(9.18)%

​

​

(0.13)%

​

​

1.32%(g)

Ratios/Supplemental Data

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net assets, end of period (000’s omitted)

​

$

277,883

​

$

306,319

​

$

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%

​

​

0.25%(i)

Expenses excluding waivers/ reimbursements(h)

​

​

0.26%(i)

​

​

0.26%

​

​

0.26%

​

​

0.26%

​

​

0.26%

​

​

0.26%(i)

Net investment income (loss)(c)

​

​

1.54%(i)

​

​

1.17%

​

​

1.43%

​

​

2.35%

​

​

1.97%

​

​

1.59%(i)

Portfolio turnover rate(j)

​

​

2%

​

​

65%

​

​

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)

Assumes investment at the net asset value at the beginning of the period.

(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.

149​

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, 2022 (unaudited)

For the Year Ended April 30,

For the Period May 16, 2017(a) to April 30, 2018

​

2022

2021

2020

2019

Net asset value, beginning of period

​

$

31.85

​

$

35.03

​

$

20.02

​

$

25.72

​

$

27.13

​

$

25.16

Income from Investment Operations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income(b)(c)

​

​

0.23

​

​

0.44

​

​

0.35

​

​

0.28

​

​

0.27

​

​

0.16

Net realized and unrealized gain (loss)

​

​

0.73

​

​

(3.16)

​

​

15.01

​

​

(5.72)

​

​

(1.39)

​

​

1.93

Net increase (decrease) in net assets resulting from investment operations

​

​

0.96

​

​

(2.72)

​

​

15.36

​

​

(5.44)

​

​

(1.12)

​

​

2.09

Distributions from:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

​

(0.18)

​

​

(0.46)

​

​

(0.35)

​

​

(0.26)

​

​

(0.29)

​

​

(0.12)

Net asset value, end of period

​

$

32.63

​

$

31.85

​

$

35.03

​

$

20.02

​

$

25.72

​

$

27.13

Market price, end of period

​

$

32.69

​

$

31.83

​

$

35.03

​

$

20.02

​

$

25.72

​

$

27.14

Total Return

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total investment return based on net asset value(d)

​

​

3.06%

​

​

(7.89)%

​

​

77.31%

​

​

(21.35)%

​

​

(4.10)%

​

​

8.33%

Total investment return based on market price(e)

​

​

3.31%

​

​

(7.95)%

​

​

77.34%

​

​

(21.34)%

​

​

(4.14)%

​

​

8.36%(f)

Ratios/Supplemental Data

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net assets, end of period (000’s omitted)

​

$

238,221

​

$

186,308

​

$

206,659

​

$

103,108

​

$

348,555

​

$

465,347

Ratio to average net assets of:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expenses net of waivers/ reimbursements(g)

​

​

0.36%(h)

​

​

0.35%

​

​

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%

​

​

0.36%(h)

Net investment income (loss)(c)

​

​

1.43%(h)

​

​

1.24%

​

​

1.29%

​

​

1.14%

​

​

1.01%

​

​

0.61%(h)

Portfolio turnover rate(i)

​

​

2%

​

​

64%

​

​

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)

Assumes investment at the net asset value at the beginning of the period.

(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.

150

Financial Highlights (continued)

Selected Data for a Share of Capital Stock Outstanding

​

IQ 500 International ETF

​

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30,

For the Period December 13, 2018(a) to April 30, 2019

​

2022

2021

2020

Net asset value, beginning of period

​

$

30.08

​

$

32.58

​

$

22.29

​

$

27.64

​

$

25.50

Income from Investment Operations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income(b)(c)

​

​

0.55

​

​

1.03

​

​

0.77

​

​

0.72

​

​

0.39

Net realized and unrealized gain (loss)

​

​

(4.12)

​

​

(2.35)

​

​

10.19

​

​

(5.40)

​

​

1.77

Net increase (decrease) in net assets resulting from investment operations

​

​

(3.57)

​

​

(1.32)

​

​

10.96

​

​

(4.68)

​

​

2.16

Distributions from:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

​

(0.67)

​

​

(1.18)

​

​

(0.67)

​

​

(0.67)

​

​

(0.02)

Net asset value, end of period

​

$

25.84

​

$

30.08

​

$

32.58

​

$

22.29

​

$

27.64

Market price, end of period

​

$

25.94

​

$

29.74

​

$

32.52

​

$

22.10

​

$

27.65

Total Return

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total investment return based on net asset value(d)

​

​

(12.03)%

​

​

(4.29)%

​

​

49.88%

​

​

(17.33)%

​

​

8.47%

Total investment return based on market price(e)

​

​

(10.66)%

​

​

(5.21)%

​

​

50.94%

​

​

(18.07)%

​

​

8.52%(f)

Ratios/Supplemental Data

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net assets, end of period (000’s omitted)

​

$

180,880

​

$

210,578

​

$

244,336

​

$

218,451

​

$

85,675

Ratio to average net assets of:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expenses net of waivers/reimbursements(g)

​

​

0.25%(g)

​

​

0.25%

​

​

0.25%

​

​

0.25%

​

​

0.25%(h)

Expenses excluding waivers/ reimbursements(g)

​

​

0.27%(g)

​

​

0.26%

​

​

0.26%

​

​

0.26%

​

​

0.26%(h)

Net investment income (loss)(c)

​

​

3.94%(g)

​

​

3.15%

​

​

2.86%

​

​

2.81%

​

​

3.90%(h)

Portfolio turnover rate(i)

​

​

17%

​

​

19%

​

​

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)

Assumes investment at the net asset value at the beginning of the period.

(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.

151​

Financial Highlights (continued)

Selected Data for a Share of Capital Stock Outstanding

​

IQ Candriam ESG U.S. Large Cap Equity ETF

​

For the Six Months Ended October 31, 2022 (unaudited)

For the Year Ended April 30,

For the Period December 17, 2019(a) to April 30, 2020

​

2022

2021

Net asset value, beginning of period

​

$

35.56

​

$

35.56

​

$

24.13

​

$

25.18

Income from Investment Operations

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income(b)(c)

​

​

0.24

​

​

0.46

​

​

0.42

​

​

0.15

Net realized and unrealized gain (loss)

​

​

(2.74)

​

​

(0.01)

​

​

11.32

​

​

(1.08)

Net increase (decrease) in net assets resulting from investment operations

​

​

(2.50)

​

​

0.45

​

​

11.74

​

​

(0.93)

Distributions from:

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

​

(0.22)

​

​

(0.45)

​

​

(0.31)

​

​

(0.12)

Net asset value, end of period

​

$

32.84

​

$

35.56

​

$

35.56

​

$

24.13

Market price, end of period

​

$

32.84

​

$

35.58

​

$

35.57

​

$

24.12

Total Return

​

​

​

​

​

​

​

​

​

​

​

​

Total investment return based on net asset value(d)

​

​

(7.04)%

​

​

1.21%

​

​

48.85%

​

​

(3.59)%

Total investment return based on market price(e)

​

​

(7.07)%

​

​

1.23%

​

​

49.00%

​

​

(3.64)%(f)

Ratios/Supplemental Data

​

​

​

​

​

​

​

​

​

​

​

​

Net assets, end of period (000’s omitted)

​

$

372,736

​

$

428,535

​

$

410,702

​

$

6,034

Ratio to average net assets of:

​

​

​

​

​

​

​

​

​

​

​

​

Expenses net of waivers/reimbursements(g)

​

​

0.09%(h)

​

​

0.09%

​

​

0.09%

​

​

0.09%(h)

Expenses excluding waivers/reimbursements(g)

​

​

0.11%(h)

​

​

0.10%

​

​

0.10%

​

​

0.11%(h)

Net investment income (loss)(c)

​

​

1.42%(h)

​

​

1.21%

​

​

1.35%

​

​

1.67%(h)

Portfolio turnover rate(i)

​

​

16%

​

​

5%

​

​

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)

Assumes investment at the net asset value at the beginning of the period.

(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.

152

Financial Highlights (continued)

Selected Data for a Share of Capital Stock Outstanding

​	IQ Candriam ESG U.S. Mid Cap Equity ETF
​	For the Period October 25, 2022(a) to October 31, 2022
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)	​	​	1.10
Net increase (decrease) in net assets resulting from investment operations	​	​	1.11
Distributions from:	​	​	​
Net asset value, end of period	​	$	26.11
Market price, end of period	​	$	26.12
Total Return	​	​	​
Total investment return based on net asset value(d)	​	​	3.60%
Total investment return based on market price(e)	​	​	3.65%(f)
Ratios/Supplemental Data	​	​	​
Net assets, end of period (000’s omitted)	​	$	5,222
Ratio to average net assets of:	​	​	​
Expenses net of waivers/reimbursements(g)	​	​	0.15%(h)
Expenses excluding waivers/reimbursements(g)	​	​	0.16%(h)
Net investment income (loss)(c)	​	​	1.87%(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)

Assumes investment at the net asset value at the beginning of the period.

(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.

153​

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, 2022 (unaudited)

For the Year Ended April 30,

For the Period December 17, 2019(a) to April 30, 2020

​

2022

2021

Net asset value, beginning of period

​

$

26.16

​

$

29.21

​

$

21.00

​

$

25.19

Income from Investment Operations

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income(b)(c)

​

​

0.39

​

​

0.85

​

​

0.62

​

​

0.26

Net realized and unrealized gain (loss)

​

​

(3.66)

​

​

(3.05)

​

​

8.01

​

​

(4.34)

Net increase (decrease) in net assets resulting from investment operations

​

​

(3.27)

​

​

(2.20)

​

​

8.63

​

​

(4.08)

Distributions from:

​

​

​

​

​

​

​

​

​

​

​

​

Net investment income

​

​

(0.52)

​

​

(0.85)

​

​

(0.42)

​

​

(0.11)

Net asset value, end of period

​

$

22.37

​

$

26.16

​

$

29.21

​

$

21.00

Market price, end of period

​

$

22.42

​

$

25.79

​

$

29.25

​

$

20.87

Total Return

​

​

​

​

​

​

​

​

​

​

​

​

Total investment return based on net asset value(d)

​

​

(12.56)%

​

​

(7.82)%

​

​

41.45%

​

​

(16.18)%

Total investment return based on market price(e)

​

​

(11.12)%

​

​

(9.25)%

​

​

42.51%

​

​

(16.68)%(f)

Ratios/Supplemental Data

​

​

​

​

​

​

​

​

​

​

​

​

Net assets, end of period (000’s omitted)

​

$

181,213

​

$

198,798

​

$

186,951

​

$

46,196

Ratio to average net assets of:

​

​

​

​

​

​

​

​

​

​

​

​

Expenses net of waivers/reimbursements(g)

​

​

0.15%(h)

​

​

0.15%

​

​

0.15%

​

​

0.15%(h)

Expenses excluding waivers/reimbursements(g)

​

​

0.16%(h)

​

​

0.16%

​

​

0.16%

​

​

0.16%(h)

Net investment income (loss)(c)

​

​

3.29%(h)

​

​

2.90%

​

​

2.41%

​

​

3.20%(h)

Portfolio turnover rate(i)

​

​

14%

​

​

10%

​

​

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)

Assumes investment at the net asset value at the beginning of the period.

(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.

154

Financial Highlights (continued)

Selected Data for a Share of Capital Stock Outstanding

​	IQ Healthy Hearts ETF
​	For the Six Months Ended October 31, 2022 (unaudited)			For the Year Ended April 30, 2022			For the Period January 14, 2021(a) to April 30, 2021
Net asset value, beginning of period	​	$	27.57	​	$	26.24	​	$	24.93
Income from Investment Operations	​	​	​	​	​	​	​	​	​
Net investment income(b)(c)	​	​	0.13	​	​	0.32	​	​	0.14
Net realized and unrealized gain (loss)	​	​	(2.05)	​	​	1.33	​	​	1.26
Net increase (decrease) in net assets resulting from investment operations	​	​	(1.92)	​	​	1.65	​	​	1.40
Distributions from:	​	​	​	​	​	​	​	​	​
Net investment income	​	​	(0.16)	​	​	(0.32)	​	​	(0.09)
Net asset value, end of period	​	$	25.49	​	$	27.57	​	$	26.24
Market price, end of period	​	$	25.52	​	$	27.51	​	$	26.28
Total Return	​	​	​	​	​	​	​	​	​
Total investment return based on net asset value(d)	​	​	(6.98)%	​	​	6.32%	​	​	5.62%
Total investment return based on market price(e)	​	​	(6.66)%	​	​	5.89%	​	​	5.77%(f)
Ratios/Supplemental Data	​	​	​	​	​	​	​	​	​
Net assets, end of period (000’s omitted)	​	$	7,648	​	$	6,893	​	$	6,559
Ratio to average net assets of:	​	​	​	​	​	​	​	​	​
Expenses net of waivers/reimbursements(g)	​	​	0.46%(h)	​	​	0.45%	​	​	0.45%(h)
Expenses excluding waivers/reimbursements(g)	​	​	0.48%(h)	​	​	0.47%	​	​	0.46%(h)
Net investment income (loss)(c)	​	​	1.00%(h)	​	​	1.15%	​	​	1.92%(h)
Portfolio turnover rate(i)	​	​	28%	​	​	31%	​	​	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)

Assumes investment at the net asset value at the beginning of the period.

(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.

155​

Financial Highlights (continued)

Selected Data for a Share of Capital Stock Outstanding

​	IQ Engender Equality ETF
​	For the Six Months Ended October 31, 2022 (unaudited)			For the Period October 21, 2021(a) to April 30, 2022
Net asset value, beginning of period	​	$	21.82	​	$	25.00
Income from Investment Operations	​	​	​	​	​	​
Net investment income(b)(c)	​	​	0.14	​	​	0.20
Net realized and unrealized gain (loss)	​	​	(0.82)	​	​	(3.22)
Net increase (decrease) in net assets resulting from investment operations	​	​	(0.68)	​	​	(3.02)
Distributions from:	​	​	​	​	​	​
Net investment income	​	​	(0.16)	​	​	(0.16)
Net asset value, end of period	​	$	20.98	​	$	21.82
Market price, end of period	​	$	20.98	​	$	21.79
Total Return	​	​	​	​	​	​
Total investment return based on net asset value(d)	​	​	(3.12)%	​	​	(12.10)%
Total investment return based on market price(e)	​	​	(2.96)%	​	​	(12.24)%(f)
Ratios/Supplemental Data	​	​	​	​	​	​
Net assets, end of period (000’s omitted)	​	$	5,244	​	$	5,456
Ratio to average net assets of:	​	​	​	​	​	​
Expenses net of waivers/reimbursements(g)	​	​	0.46%(h)	​	​	0.45%(h)
Expenses excluding waivers/reimbursements(g)	​	​	0.47%(h)	​	​	0.46%(h)
Net investment income (loss)(c)	​	​	1.36%(h)	​	​	1.61%(h)
Portfolio turnover rate(i)	​	​	46%	​	​	35%

(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)

Assumes investment at the net asset value at the beginning of the period.

(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.

156

Financial Highlights (continued)

Selected Data for a Share of Capital Stock Outstanding

​	IQ Cleaner Transport ETF
​	For the Six Months Ended October 31, 2022 (unaudited)			For the Period October 21, 2021(a) to April 30, 2022
Net asset value, beginning of period	​	$	20.59	​	$	25.00
Income from Investment Operations	​	​	​	​	​	​
Net investment income(b)(c)	​	​	0.28	​	​	0.13
Net realized and unrealized gain (loss)	​	​	(3.06)	​	​	(4.45)
Net increase (decrease) in net assets resulting from investment operations	​	​	(2.78)	​	​	(4.32)
Distributions from:	​	​	​	​	​	​
Net investment income	​	​	(0.25)	​	​	(0.09)
Net asset value, end of period	​	$	17.56	​	$	20.59
Market price, end of period	​	$	17.54	​	$	20.24
Total Return	​	​	​	​	​	​
Total investment return based on net asset value(d)	​	​	(13.57)%	​	​	(17.30)%
Total investment return based on market price(e)	​	​	(12.17)%	​	​	(18.72)%(f)
Ratios/Supplemental Data	​	​	​	​	​	​
Net assets, end of period (000’s omitted)	​	$	4,390	​	$	6,177
Ratio to average net assets of:	​	​	​	​	​	​
Expenses net of waivers/reimbursements(g)	​	​	0.46%(h)	​	​	0.45%(h)
Expenses excluding waivers/reimbursements(g)	​	​	0.48%(h)	​	​	0.46%(h)
Net investment income (loss)(c)	​	​	2.91%(h)	​	​	1.00%(h)
Portfolio turnover rate(i)	​	​	32%	​	​	19%

(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)

Assumes investment at the net asset value at the beginning of the period.

(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.

157​

Financial Highlights (continued)

Selected Data for a Share of Capital Stock Outstanding

​	IQ Clean Oceans ETF
​	For the Six Months Ended October 31, 2022 (unaudited)			For the Period October 21, 2021(a) to April 30, 2022
Net asset value, beginning of period	​	$	21.03	​	$	25.00
Income from Investment Operations	​	​	​	​	​	​
Net investment income(b)(c)	​	​	0.15	​	​	0.24
Net realized and unrealized gain (loss)	​	​	(3.34)	​	​	(4.07)
Net increase (decrease) in net assets resulting from investment operations	​	​	(3.19)	​	​	(3.83)
Distributions from:	​	​	​	​	​	​
Net investment income	​	​	(0.19)	​	​	(0.14)
Net asset value, end of period	​	$	17.65	​	$	21.03
Market price, end of period	​	$	17.63	​	$	20.84
Total Return	​	​	​	​	​	​
Total investment return based on net asset value(d)	​	​	(15.22)%	​	​	(15.36)%
Total investment return based on market price(e)	​	​	(14.55)%	​	​	(16.13)%(f)
Ratios/Supplemental Data	​	​	​	​	​	​
Net assets, end of period (000’s omitted)	​	$	4,413	​	$	5,257
Ratio to average net assets of:	​	​	​	​	​	​
Expenses net of waivers/reimbursements(g)	​	​	0.46%(h)	​	​	0.45%(h)
Expenses excluding waivers/reimbursements(g)	​	​	0.47%(h)	​	​	0.46%(h)
Net investment income (loss)(c)	​	​	1.60%(h)	​	​	1.93%(h)
Portfolio turnover rate(i)	​	​	45%	​	​	25%

(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)

Assumes investment at the net asset value at the beginning of the period.

(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.

158

Financial Highlights (continued)

Selected Data for a Share of Capital Stock Outstanding

​	IQ Global Equity R&D Leaders ETF
​	For the Six Months Ended October 31, 2022 (unaudited)			For the Period February 8, 2022(a) to April 30, 2022
Net asset value, beginning of period	​	$	22.29	​	$	24.92
Income from Investment Operations	​	​	​	​	​	​
Net investment income(b)(c)	​	​	0.22	​	​	0.12
Net realized and unrealized gain (loss)	​	​	(3.17)	​	​	(2.69)
Net increase (decrease) in net assets resulting from investment operations	​	​	(2.95)	​	​	(2.57)
Distributions from:	​	​	​	​	​	​
Net investment income	​	​	(0.24)	​	​	(0.06)
Net asset value, end of period	​	$	19.10	​	$	22.29
Market price, end of period	​	$	19.11	​	$	22.12
Total Return	​	​	​	​	​	​
Total investment return based on net asset value(d)	​	​	(13.27)%	​	​	(10.35)%
Total investment return based on market price(e)	​	​	(12.56)%	​	​	(11.03)%(f)
Ratios/Supplemental Data	​	​	​	​	​	​
Net assets, end of period (000’s omitted)	​	$	3,820	​	$	4,457
Ratio to average net assets of:	​	​	​	​	​	​
Expenses net of waivers/reimbursements(g)	​	​	0.19%(h)	​	​	0.18%(h)
Expenses excluding waivers/reimbursements(g)	​	​	0.20%(h)	​	​	0.19%(h)
Net investment income (loss)(c)	​	​	2.14%(h)	​	​	2.15%(h)
Portfolio turnover rate(i)	​	​	14%	​	​	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)

Assumes investment at the net asset value at the beginning of the period.

(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.

159​

Financial Highlights (continued)

Selected Data for a Share of Capital Stock Outstanding

​	IQ U.S. Large Cap R&D Leaders ETF
​	For the Six Months Ended October 31, 2022 (unaudited)			For the Period February 8, 2022(a) to April 30, 2022
Net asset value, beginning of period	​	$	22.47	​	$	24.83
Income from Investment Operations	​	​	​	​	​	​
Net investment income(b)(c)	​	​	0.14	​	​	0.07
Net realized and unrealized gain (loss)	​	​	(2.18)	​	​	(2.39)
Net increase (decrease) in net assets resulting from investment operations	​	​	(2.04)	​	​	(2.32)
Distributions from:	​	​	​	​	​	​
Net investment income	​	​	(0.15)	​	​	(0.04)
Net asset value, end of period	​	$	20.28	​	$	22.47
Market price, end of period	​	$	20.29	​	$	22.45
Total Return	​	​	​	​	​	​
Total investment return based on net asset value(d)	​	​	(9.11)%	​	​	(9.37)%
Total investment return based on market price(e)	​	​	(8.97)%	​	​	(9.43)%(f)
Ratios/Supplemental Data	​	​	​	​	​	​
Net assets, end of period (000’s omitted)	​	$	4,055	​	$	4,494
Ratio to average net assets of:	​	​	​	​	​	​
Expenses net of waivers/reimbursements(g)	​	​	0.15%(h)	​	​	0.14%(h)
Expenses excluding waivers/reimbursements(g)	​	​	0.16%(h)	​	​	0.15%(h)
Net investment income (loss)(c)	​	​	1.29%(h)	​	​	1.21%(h)
Portfolio turnover rate(i)	​	​	11%	​	​	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)

Assumes investment at the net asset value at the beginning of the period.

(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.

160

Financial Highlights (continued)

Selected Data for a Share of Capital Stock Outstanding

​	IQ U.S. Mid Cap R&D Leaders ETF
​	For the Six Months Ended October 31, 2022 (unaudited)			For the Period February 8, 2022(a) to April 30, 2022
Net asset value, beginning of period	​	$	22.49	​	$	25.05
Income from Investment Operations	​	​	​	​	​	​
Net investment income(b)(c)	​	​	0.08	​	​	0.03
Net realized and unrealized gain (loss)	​	​	(2.05)	​	​	(2.56)
Net increase (decrease) in net assets resulting from investment operations	​	​	(1.97)	​	​	(2.53)
Distributions from:	​	​	​	​	​	​
Net investment income	​	​	(0.07)	​	​	(0.03)
Net asset value, end of period	​	$	20.45	​	$	22.49
Market price, end of period	​	$	20.46	​	$	22.49
Total Return	​	​	​	​	​	​
Total investment return based on net asset value(d)	​	​	(8.73)%	​	​	(10.10)%
Total investment return based on market price(e)	​	​	(8.70)%	​	​	(10.11)%(f)
Ratios/Supplemental Data	​	​	​	​	​	​
Net assets, end of period (000’s omitted)	​	$	4,091	​	$	4,499
Ratio to average net assets of:	​	​	​	​	​	​
Expenses net of waivers/reimbursements(g)	​	​	0.17%(h)	​	​	0.16%(h)
Expenses excluding waivers/reimbursements(g)	​	​	0.18%(h)	​	​	0.17%(h)
Net investment income (loss)(c)	​	​	0.73%(h)	​	​	0.61%(h)
Portfolio turnover rate(i)	​	​	35%	​	​	8%

(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)

Assumes investment at the net asset value at the beginning of the period.

(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.

161​

Notes to Financial Statements 

October 31, 2022 (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-four 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 CBRE NextGen Real Estate ETF	Diversified	June 14, 2011
IQ FTSE International Equity Currency Neutral 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. Large Cap Equity ETF	Diversified	December 17, 2019
IQ Candriam ESG U.S. Mid Cap Equity ETF	Diversified	October 25, 2022
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
IQ Global Equity R&D Leaders ETF	Non-diversified	February 8, 2022
IQ U.S. Large Cap R&D Leaders ETF	Non-diversified	February 8, 2022
IQ U.S. Mid Cap R&D Leaders ETF	Non-diversified	February 8, 2022

*

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”).

162

Notes to Financial Statements (continued)

October 31, 2022 (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	Bloomberg IQ Multi-Asset Inflation 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 CBRE NextGen Real Estate ETF	IQ CBRE NextGen Real Estate Index
IQ FTSE International Equity Currency Neutral 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. Large Cap Equity ETF	IQ Candriam ESG US Equity Index
IQ Candriam ESG U.S. Mid Cap Equity ETF	IQ Candriam ESG U.S. Mid Cap 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
IQ Global Equity R&D Leaders ETF	IQ Global Equity R&D Leaders Index
IQ U.S. Large Cap R&D Leaders ETF	IQ U.S. Large Cap R&D Leaders Index
IQ U.S. Mid Cap R&D Leaders ETF	IQ U.S. Mid Cap R&D Leaders 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,

163​

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

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.

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.” The NAV is determined as of the close of trading (generally, 4:00 PM Eastern Time) on each day the Fund’s listed 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

164

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

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.

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,

165​

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

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 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, 2022 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

166

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

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.

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 April 30, 2022, 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.

Treasury Inflation Protected Securities

The funds may invest in treasury inflation protected securities (TIPS). The principal amount of TIPS is adjusted periodically and is increased for inflation or decreased for deflation based on a monthly published index. These adjustments are recorded as interest income in the Statement of Operations. Coupon payments are based on the adjusted principal at the time the interest is paid.

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 CBRE NextGen Real Estate ETF, IQ FTSE International Equity Currency Neutral ETF, IQ Healthy Hearts ETF, IQ Candriam ESG International Equity ETF, IQ Candriam ESG U.S.

167​

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

Large Cap Equity ETF, IQ Chaikin U.S. Small Cap ETF, and IQ Chaikin U.S. Large Cap ETF, IQ Engender Equality ETF, IQ Cleaner transport ETF, IQ Clean Oceans ETF, and IQ Global Resources ETF typically distributes income quarterly, and IQ Real Return ETF 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 CBRE NextGen Real Estate ETF and the IQ Chaikin U.S. 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.

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, 2022, 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

168

Notes to Financial Statements (continued)

October 31, 2022 (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

​

$

139,268,137

​

$

—

​

$

—

​

$

25,614,071

​

$

164,882,208

IQ Hedge Macro Tracker ETF

​

​

111,315

​

​

—

​

​

—

​

​

—

​

​

111,315

IQ Hedge Market Neutral Tracker ETF

​

​

1,704,172

​

​

—

​

​

—

​

​

—

​

​

1,704,172

IQ Hedge Long/Short Tracker ETF

​

​

975,683

​

​

—

​

​

—

​

​

—

​

​

975,683

IQ Hedge Event-Driven Tracker ETF

​

​

1,052,769

​

​

—

​

​

—

​

​

—

​

​

1,052,769

IQ Real Return ETF

​

​

2,485

​

​

41,348

​

​

65,681

​

​

1,216,273

​

​

1,325,787

IQ S&P High Yield Low Volatility Bond ETF

​

​

79,258

​

​

—

​

​

—

​

​

—

​

​

79,258

IQ Merger Arbitrage ETF

​

​

13,105,735

​

​

—

​

​

—

​

​

445,002

​

​

13,550,737

IQ Global Resources ETF

​

​

26,704

​

​

5,935

​

​

7,581

​

​

824,801

​

​

838,318

IQ CBRE NextGen Real Estate ETF

​

​

—

​

​

—

​

​

—

​

​

189,115

​

​

189,115

IQ FTSE International Equity Currency Neutral ETF

​

​

1,097,062

​

​

7,731

​

​

9,876

​

​

2,207,789

​

​

2,225,396

IQ Chaikin U.S. Large Cap ETF

​

​

—

​

​

98

​

​

834

​

​

3,464,049

​

​

3,464,982

IQ Chaikin U.S. Small Cap ETF

​

​

858,535

​

​

930

​

​

88,255

​

​

5,642,073

​

​

6,589,793

IQ 500 International ETF

​

​

3,488,171

​

​

25,763

​

​

32,910

​

​

1,481,678

​

​

5,028,522

IQ Candriam ESG U.S. Large Cap Equity ETF

​

​

—

​

​

11,280

​

​

96,304

​

​

5,558,265

​

​

5,665,849

IQ Candriam ESG U.S. Mid Cap Equity ETF

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

IQ Candriam ESG International Equity ETF

​

​

958,587

​

​

12,765

​

​

16,306

​

​

252,060

​

​

1,239,718

IQ Healthy Hearts ETF

​

​

25,172

​

​

62

​

​

2,454

​

​

188,551

​

​

216,239

IQ Engender Equality ETF

​

​

—

​

​

147

​

​

5,725

​

​

114,736

​

​

120,608

IQ Cleaner Transport ETF

​

​

4,710

​

​

—

​

​

—

​

​

—

​

​

4,710

IQ Clean Oceans ETF

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

IQ Global Equity R&D Leaders ETF

​

​

—

​

​

21

​

​

179

​

​

9,824

​

​

10,024

IQ U.S. Large Cap R&D Leaders ETF

​

​

—

​

​

55

​

​

467

​

​

25,660

​

​

26,182

IQ U.S. Mid Cap R&D Leaders ETF

​

​

—

​

​

356

​

​

4,824

​

​

243,820

​

​

249,000

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.

169​

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

At October 31, 2022, 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
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, 2022, 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

​

$

160,593,309

​

$

(160,593,309)

​

$

—

​

$

—

​

$

—

​

$

—

IQ Hedge Macro Tracker ETF

​

​

107,494

​

​

(107,494)

​

​

—

​

​

—

​

​

—

​

​

—

IQ Hedge Market Neutral Tracker ETF

​

​

1,657,177

​

​

(1,657,177)

​

​

—

​

​

—

​

​

—

​

​

—

IQ Hedge Long/Short Tracker ETF

​

​

950,418

​

​

(950,418)

​

​

—

​

​

—

​

​

—

​

​

—

IQ Hedge Event-Driven Tracker ETF

​

​

1,023,962

​

​

(1,023,962)

​

​

—

​

​

—

​

​

—

​

​

—

IQ Real Return ETF

​

​

1,285,207

​

​

(1,285,207)

​

​

—

​

​

—

​

​

—

​

​

—

IQ S&P High Yield Low Volatility Bond ETF

​

​

76,648

​

​

(76,648)

​

​

—

​

​

—

​

​

—

​

​

—

IQ Merger Arbitrage ETF

​

​

13,278,540

​

​

(13,278,540)

​

​

—

​

​

—

​

​

—

​

​

—

IQ Global Resources ETF

​

​

827,684

​

​

(827,684)

​

​

—

​

​

—

​

​

—

​

​

—

IQ CBRE NextGen Real Estate ETF

​

​

181,780

​

​

(181,780)

​

​

—

​

​

—

​

​

—

​

​

—

IQ FTSE International Equity Currency Neutral ETF

​

​

3,117,925

​

​

(3,117,925)

​

​

—

​

​

—

​

​

—

​

​

—

IQ Chaikin U.S. Large Cap ETF

​

​

3,359,566

​

​

(3,359,566)

​

​

—

​

​

—

​

​

—

​

​

—

IQ Chaikin U.S. Small Cap ETF

​

​

6,377,907

​

​

(6,377,907)

​

​

—

​

​

—

​

​

—

​

​

—

IQ 500 International ETF

​

​

4,703,890

​

​

(4,703,890)

​

​

—

​

​

—

​

​

—

​

​

—

IQ Candriam ESG U.S. Large Cap Equity ETF

​

​

5,496,291

​

​

(5,496,291)

​

​

—

​

​

—

​

​

—

​

​

—

IQ Candriam ESG U.S. Mid Cap Equity ETF

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

IQ Candriam ESG International Equity ETF

​

​

1,169,902

​

​

(1,169,902)

​

​

—

​

​

—

​

​

—

​

​

—

IQ Healthy Hearts ETF

​

​

212,623

​

​

(212,623)

​

​

—

​

​

—

​

​

—

​

​

—

IQ Engender Equality ETF

​

​

115,500

​

​

(115,500)

​

​

—

​

​

—

​

​

—

​

​

—

IQ Cleaner Transport ETF

​

​

4,574

​

​

(4,574)

​

​

—

​

​

—

​

​

—

​

​

—

IQ Clean Oceans ETF

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

IQ Global Equity R&D Leaders ETF

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

IQ U.S. Large Cap R&D Leaders ETF

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

IQ U.S. Mid Cap R&D Leaders ETF

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

1

The amount of collateral presented is limited such that the net amount cannot be less than $0.

170

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

As of October 31, 2022, 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 FTSE International Equity Currency Neutral ETF

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Morgan Stanley

​

$

1,071,285

​

$

(1,071,285)

​

$

—

​

$

(1,093,157)

​

$

1,071,285

​

$

(21,872)

This does not reflect securities segregated as collateral, as detailed on the Schedule of Investments.

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.

171​

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

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	​	0.40%*
IQ Hedge Market Neutral Tracker ETF	​	0.40%*
IQ Hedge Long/Short Tracker ETF	​	0.40%*
IQ Hedge Event-Driven Tracker ETF	​	0.40%*
IQ Real Return ETF	​	0.29%
IQ S&P High Yield Low Volatility Bond ETF	​	0.40%
IQ Merger Arbitrage ETF	​	0.75%
IQ Global Resources ETF	​	0.30%
IQ CBRE NextGen Real Estate ETF	​	0.60%
IQ FTSE International Equity Currency Neutral ETF	​	0.19%**
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. Large Cap Equity ETF	​	0.09%
IQ Candriam ESG U.S. Mid Cap Equity ETF	​	0.15%
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%
IQ Global Equity R&D Leaders ETF	​	0.18%
IQ U.S. Large Cap R&D Leaders ETF	​	0.14%
IQ U.S. Mid Cap R&D Leaders ETF	​	0.16%

*

Prior to August 31, 2022, the annual rate for the Fund was 0.75%

**

Prior to August 31, 2022, the annual rate for the Fund was 0.35%

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; 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 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 Real Return ETF	​	0.06%

The Advisor has entered into an Expense Limitation Agreement with certain Funds under which it has contractually agreed 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

172

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

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 CBRE NextGen Real Estate ETF	​	0.60%
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. Large Cap Equity ETF	​	0.09%
IQ Candriam ESG U.S. Mid Cap Equity ETF	​	0.15%
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%
IQ Global Equity R&D Leaders ETF	​	0.18%
IQ U.S. Large Cap R&D Leaders ETF	​	0.14%
IQ U.S. Mid Cap R&D Leaders ETF	​	0.16%

The Fee Waiver and Expense Limitation Agreements will remain in effect unless terminated by the Board of Trustees of the Funds.

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.

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

173​

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

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 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.

5. FEDERAL INCOME TAX

At October 31, 2022, 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	​	$	841,469,679	​	$	4,911,046	​	$	(58,176,171)	​	(53,265,125)
IQ Hedge Macro Tracker ETF	​	​	2,723,840	​	​	48,495	​	​	(191,394)	​	(142,899)
IQ Hedge Market Neutral Tracker ETF	​	​	8,419,975	​	​	12,582	​	​	(485,116)	​	(472,534)
IQ Hedge Long/Short Tracker ETF	​	​	23,967,798	​	​	110,457	​	​	(2,972,488)	​	(2,862,031)
IQ Hedge Event-Driven Tracker ETF	​	​	7,925,247	​	​	3,860	​	​	(688,349)	​	(684,489)
IQ Real Return ETF	​	​	9,686,573	​	​	141,491	​	​	(1,125,372)	​	(983,881)
IQ S&P High Yield Low Volatility Bond ETF	​	​	19,825,640	​	​	48,433	​	​	(1,788,333)	​	(1,739,900)
IQ Merger Arbitrage ETF	​	​	580,933,440	​	​	5,062,561	​	​	(15,722,513)	​	(10,659,952)
IQ Global Resources ETF	​	​	35,644,709	​	​	4,794,181	​	​	(4,168,998)	​	625,183
IQ CBRE NextGen Real Estate ETF	​	​	29,505,750	​	​	1,480,396	​	​	(4,045,576)	​	(2,565,180)
IQ FTSE International Equity Currency Neutral ETF	​	​	308,122,855	​	​	16,945,256	​	​	(59,522,301)	​	(42,577,045)
IQ Chaikin U.S. Large Cap ETF	​	​	288,046,028	​	​	27,743,742	​	​	(38,365,087)	​	(10,621,345)
IQ Chaikin U.S. Small Cap ETF	​	​	247,474,822	​	​	23,951,709	​	​	(32,354,089)	​	(8,402,380)
IQ 500 International ETF	​	​	216,395,728	​	​	8,643,974	​	​	(41,574,236)	​	(32,930,262)
IQ Candriam ESG U.S. Large Cap Equity ETF	​	​	377,270,703	​	​	30,502,679	​	​	(35,818,575)	​	(5,315,896)
IQ Candriam ESG U.S. Mid Cap Equity ETF	​	​	5,040,032	​	​	236,213	​	​	(56,577)	​	179,636
IQ Candriam ESG International Equity ETF	​	​	204,428,606	​	​	7,097,082	​	​	(29,997,147)	​	(22,900,065)
IQ Healthy Hearts ETF	​	​	7,845,447	​	​	684,268	​	​	(864,652)	​	(180,384)
IQ Engender Equality ETF	​	​	5,748,437	​	​	293,749	​	​	(800,562)	​	(506,813)
IQ Cleaner Transport ETF	​	​	5,875,460	​	​	82,814	​	​	(1,569,628)	​	(1,486,814)
IQ Clean Oceans ETF	​	​	5,555,475	​	​	153,522	​	​	(1,298,149)	​	(1,144,627)
IQ Global Equity R&D Leaders ETF	​	​	4,890,895	​	​	78,995	​	​	(1,152,554)	​	(1,073,559)
IQ U.S. Large Cap R&D Leaders ETF	​	​	4,956,655	​	​	134,355	​	​	(1,038,797)	​	(904,442)
IQ U.S. Mid Cap R&D Leaders ETF	​	​	4,945,307	​	​	213,562	​	​	(945,966)	​	(732,404)

174

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

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, distributions from underlying Funds and the realization for tax purposes of unrealized gains on investments in passive foreign investment companies held at October 31, 2022.

At April 30, 2022, 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

​

$

5,574,351

​

$

(51,996,958)

​

$

(43,778,910)

​

$

(90,201,517)

IQ Hedge Macro Tracker ETF

​

​

54,816

​

​

(5,377,149)

​

​

(63,679)

​

​

(5,386,012)

IQ Hedge Market Neutral Tracker ETF

​

​

211,616

​

​

(779,156)

​

​

(532,245)

​

​

(1,099,785)

IQ Hedge Long/Short Tracker ETF

​

​

238,917

​

​

(999,738)

​

​

(1,933,397)

​

​

(2,694,218)

IQ Hedge Event-Driven Tracker ETF

​

​

35,778

​

​

(393,810)

​

​

(834,987)

​

​

(1,193,019)

IQ Real Return ETF

​

​

(104,646)

​

​

(2,069,905)

​

​

(721,519)

​

​

(2,896,070)

IQ S&P High Yield Low Volatility Bond ETF

​

​

84,135

​

​

(3,360,074)

​

​

(1,734,347)

​

​

(5,010,286)

IQ Merger Arbitrage ETF

​

​

(1,015,207)

​

​

(49,646,781)

​

​

(13,408,485)

​

​

(64,070,473)

IQ Global Resources ETF

​

​

—

​

​

(61,014,913)

​

​

4,537,744

​

​

(56,477,169)

IQ CBRE NextGen Real Estate ETF

​

​

—

​

​

(6,448,219)

​

​

(3,948,268)

​

​

(10,396,487)

IQ FTSE International Equity Currency Neutral ETF

​

​

1,631,378

​

​

(2,170,970)

​

​

(7,379,980)

​

​

(7,919,572)

IQ Chaikin U.S. Large Cap ETF

​

​

167,374

​

​

(38,648,985)

​

​

1,021,096

​

​

(37,460,515)

IQ Chaikin U.S. Small Cap ETF

​

​

—

​

​

(71,110,579)

​

​

(10,469,972)

​

​

(81,580,551)

IQ 500 International ETF

​

​

2,182,294

​

​

(5,991,456)

​

​

(4,921,195)

​

​

(8,730,357)

IQ Candriam ESG U.S. Large Cap Equity ETF

​

​

233,854

​

​

(2,014,301)

​

​

32,987,675

​

​

31,207,228

IQ Candriam ESG U.S. Mid Cap Equity ETF

​

​

N/A

​

​

N/A

​

​

N/A

​

​

N/A

IQ Candriam ESG International Equity ETF

​

​

1,430,497

​

​

(2,023,171)

​

​

3,324,256

​

​

2,731,582

IQ Healthy Hearts ETF

​

​

10,059

​

​

(139,812)

​

​

31,004

​

​

(98,749)

IQ Engender Equality ETF

​

​

8,860

​

​

(104,197)

​

​

(847,631)

​

​

(942,968)

IQ Cleaner Transport ETF

​

​

(805)

​

​

(61,401)

​

​

(1,213,775)

​

​

(1,275,981)

IQ Clean Oceans ETF

​

​

12,688

​

​

(31,312)

​

​

(940,486)

​

​

(959,110)

IQ Global Equity R&D Leaders ETF

​

​

10,108

​

​

(46,524)

​

​

(557,552)

​

​

(593,968)

IQ U.S. Large Cap R&D Leaders ETF

​

​

5,078

​

​

(22,227)

​

​

(542,466)

​

​

(559,615)

IQ U.S. Mid Cap R&D Leaders ETF

​

​

500

​

​

(38,026)

​

​

(603,060)

​

​

(640,586)

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.

175​

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

At April 30, 2022, 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	​	$	(7,309,488)	​	$	7,309,488
IQ Hedge Macro Tracker ETF	​	​	—	​	​	—
IQ Hedge Market Neutral Tracker ETF	​	​	13,811	​	​	(13,811)
IQ Hedge Long/Short Tracker ETF	​	​	(987,947)	​	​	987,947
IQ Hedge Event-Driven Tracker ETF	​	​	216,157	​	​	(216,157)
IQ Real Return ETF	​	​	(596,274)	​	​	596,274
IQ S&P High Yield Low Volatility Bond ETF	​	​	(1,125,108)	​	​	1,125,108
IQ Merger Arbitrage ETF	​	​	87,579,145	​	​	(87,579,145)
IQ Global Resources ETF	​	​	(1,199,729)	​	​	1,199,729
IQ CBRE NextGen Real Estate ETF	​	​	(2,330,925)	​	​	2,330,925
IQ FTSE International Equity Currency Neutral ETF	​	​	(4,571,037)	​	​	4,571,037
IQ Chaikin U.S. Large Cap ETF	​	​	(2,291,140)	​	​	2,291,140
IQ Chaikin U.S. Small Cap ETF	​	​	(7,384,747)	​	​	7,384,747
IQ 500 International ETF	​	​	(16,406,709)	​	​	16,406,709
IQ Candriam ESG U.S. Large Cap Equity ETF	​	​	(33,423,964)	​	​	33,423,964
IQ Candriam ESG U.S. Mid Cap Equity ETF	​	​	N/A	​	​	N/A
IQ Candriam ESG International Equity ETF	​	​	(4,403,240)	​	​	4,403,240
IQ Healthy Hearts ETF	​	​	(661,204)	​	​	661,204
IQ Engender Equality ETF	​	​	(117,278)	​	​	117,278
IQ Cleaner Transport ETF	​	​	17,358	​	​	(17,358)
IQ Clean Oceans ETF	​	​	(76,086)	​	​	76,086
IQ Global Equity R&D Leaders ETF	​	​	(48,723)	​	​	48,723
IQ U.S. Large Cap R&D Leaders ETF	​	​	(66,785)	​	​	66,785
IQ U.S. Mid Cap R&D Leaders ETF	​	​	(115,328)	​	​	115,328

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.

176

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

The tax character of distributions paid during the years ended April 30, 2022 and 2021 were as follows:

​

2022

2021

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

​

$

2,417,467

​

$

—

​

$

—

​

$

15,953,112

​

$

—

​

$

—

IQ Hedge Macro Tracker ETF

​

​

—

​

​

—

​

​

—

​

​

106,851

​

​

—

​

​

—

IQ Hedge Market Neutral Tracker ETF

​

​

—

​

​

—

​

​

—

​

​

341,520

​

​

—

​

​

—

IQ Hedge Long/Short Tracker ETF

​

​

108,619

​

​

—

​

​

—

​

​

181,041

​

​

—

​

​

—

IQ Hedge Event-Driven Tracker ETF

​

​

266,450

​

​

—

​

​

—

​

​

209,892

​

​

—

​

​

—

IQ Real Return ETF

​

​

307,104

​

​

—

​

​

—

​

​

511,575

​

​

—

​

​

—

IQ S&P High Yield Low Volatility Bond ETF

​

​

1,750,995

​

​

—

​

​

—

​

​

3,749,100

​

​

—

​

​

—

IQ Merger Arbitrage ETF

​

​

—

​

​

—

​

​

—

​

​

16,966,679

​

​

—

​

​

—

IQ Global Resources ETF

​

​

—

​

​

—

​

​

—

​

​

2,041,648

​

​

—

​

​

—

IQ CBRE NextGen Real Estate ETF

​

​

1,830,575

​

​

—

​

​

—

​

​

662,106

​

​

—

​

​

1,029,743

IQ FTSE International Equity Currency Neutral ETF

​

​

9,308,477

​

​

—

​

​

—

​

​

6,183,285

​

​

—

​

​

—

IQ Chaikin U.S. Large Cap ETF

​

​

3,470,326

​

​

—

​

​

—

​

​

4,106,799

​

​

—

​

​

—

IQ Chaikin U.S. Small Cap ETF

​

​

2,747,303

​

​

—

​

​

—

​

​

1,965,356

​

​

—

​

​

—

IQ 500 International ETF

​

​

8,747,984

​

​

—

​

​

—

​

​

5,907,221

​

​

—

​

​

—

IQ Candriam ESG U.S. Large Cap Equity ETF

​

​

5,632,747

​

​

—

​

​

—

​

​

2,588,974

​

​

—

​

​

—

IQ Candriam ESG U.S. Mid Cap Equity ETF

​

​

N/A

​

​

N/A

​

​

N/A

​

​

N/A

​

​

N/A

​

​

N/A

IQ Candriam ESG International Equity ETF

​

​

5,802,531

​

​

—

​

​

—

​

​

2,032,608

​

​

—

​

​

—

IQ Healthy Hearts ETF

​

​

80,268

​

​

—

​

​

—

​

​

21,568

​

​

—

​

​

—

IQ Engender Equality ETF

​

​

40,598

​

​

—

​

​

—

​

​

N/A

​

​

N/A

​

​

N/A

IQ Cleaner Transport ETF

​

​

27,324

​

​

—

​

​

—

​

​

N/A

​

​

N/A

​

​

N/A

IQ Clean Oceans ETF

​

​

34,323

​

​

—

​

​

—

​

​

N/A

​

​

N/A

​

​

N/A

IQ Global Equity R&D Leaders ETF

​

​

11,114

​

​

—

​

​

—

​

​

N/A

​

​

N/A

​

​

N/A

IQ U.S. Large Cap R&D Leaders ETF

​

​

8,288

​

​

—

​

​

—

​

​

N/A

​

​

N/A

​

​

N/A

IQ U.S. Mid Cap R&D Leaders ETF

​

​

6,272

​

​

—

​

​

—

​

​

N/A

​

​

N/A

​

​

N/A

177​

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

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 the year ended April 30, 2022, the Funds incurred and elected to defer to May 1, 2022 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	​	$	—	​	$	—	​	$	—
IQ Hedge Macro Tracker ETF	​	​	—	​	​	—	​	​	—
IQ Hedge Market Neutral Tracker ETF	​	​	—	​	​	—	​	​	—
IQ Hedge Long/Short Tracker ETF	​	​	—	​	​	—	​	​	—
IQ Hedge Event-Driven Tracker ETF	​	​	—	​	​	—	​	​	—
IQ Real Return ETF	​	​	104,646	​	​	—	​	​	—
IQ S&P High Yield Low Volatility Bond ETF	​	​	—	​	​	—	​	​	—
IQ Merger Arbitrage ETF	​	​	1,015,207	​	​	—	​	​	—
IQ Global Resources ETF	​	​	982,462	​	​	—	​	​	—
IQ CBRE NextGen Real Estate ETF	​	​	—	​	​	—	​	​	—
IQ FTSE International Equity Currency Neutral ETF	​	​	—	​	​	—	​	​	—
IQ Chaikin U.S. Large Cap ETF	​	​	—	​	​	—	​	​	—
IQ Chaikin U.S. Small Cap ETF	​	​	—	​	​	—	​	​	—
IQ 500 International ETF	​	​	—	​	​	—	​	​	—
IQ Candriam ESG U.S. Large Cap Equity ETF	​	​	—	​	​	—	​	​	—
IQ Candriam ESG U.S. Mid Cap Equity ETF	​	​	N/A	​	​	N/A	​	​	N/A
IQ Candriam ESG International Equity ETF	​	​	—	​	​	—	​	​	—
IQ Healthy Hearts ETF	​	​	—	​	​	—	​	​	—
IQ Engender Equality ETF	​	​	—	​	​	—	​	​	—
IQ Cleaner Transport ETF	​	​	805	​	​	—	​	​	—
IQ Clean Oceans ETF	​	​	—	​	​	—	​	​	—
IQ Global Equity R&D Leaders ETF	​	​	—	​	​	—	​	​	—
IQ U.S. Large Cap R&D Leaders ETF	​	​	—	​	​	—	​	​	—
IQ U.S. Mid Cap R&D Leaders ETF	​	​	​	​	​	​	​	​	​

At April 30, 2022, 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. There is no

178

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

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	Utilized In Current Year			Short-Term With No Expiration			Long-Term With No Expiration
IQ Hedge Multi-Strategy Tracker ETF	​	$	—	​	$	49,123,611	​	$	2,873,347
IQ Hedge Macro Tracker ETF	​	​	24,641	​	​	4,264,318	​	​	1,112,831
IQ Hedge Market Neutral Tracker ETF	​	​	—	​	​	779,156	​	​	—
IQ Hedge Long/Short Tracker ETF	​	​	—	​	​	702,657	​	​	297,081
IQ Hedge Event-Driven Tracker ETF	​	​	—	​	​	331,648	​	​	62,162
IQ Real Return ETF	​	​	27,891	​	​	612,292	​	​	1,457,613
IQ S&P High Yield Low Volatility Bond ETF	​	​	—	​	​	2,878,107	​	​	481,967
IQ Merger Arbitrage ETF	​	​	—	​	​	49,646,781	​	​	—
IQ Global Resources ETF	​	​	1,099,354	​	​	32,376,209	​	​	28,638,704
IQ CBRE NextGen Real Estate ETF	​	​	2,480,198	​	​	—	​	​	6,448,219
IQ FTSE International Equity Currency Neutral ETF	​	​	15,482,247	​	​	—	​	​	2,170,970
IQ Chaikin U.S. Large Cap ETF	​	​	29,008,447	​	​	16,011,824	​	​	22,637,161
IQ Chaikin U.S. Small Cap ETF	​	​	5,911,452	​	​	32,657,354	​	​	38,453,225
IQ 500 International ETF	​	​	—	​	​	3,203,128	​	​	2,788,328
IQ Candriam ESG U.S. Large Cap Equity ETF	​	​	—	​	​	2,014,301	​	​	—
IQ Candriam ESG U.S. Mid Cap Equity ETF	​	​	N/A	​	​	N/A	​	​	N/A
IQ Candriam ESG International Equity ETF	​	​	—	​	​	1,817,627	​	​	205,544
IQ Healthy Hearts ETF	​	​	—	​	​	130,230	​	​	9,582
IQ Engender Equality ETF	​	​	—	​	​	104,196	​	​	1
IQ Cleaner Transport ETF	​	​	—	​	​	61,401	​	​	—
IQ Clean Oceans ETF	​	​	—	​	​	31,312	​	​	—
IQ Global Equity R&D Leaders ETF	​	​	—	​	​	46,524	​	​	—
IQ U.S. Large Cap R&D Leaders ETF	​	​	—	​	​	22,227	​	​	—
IQ U.S. Mid Cap R&D Leaders ETF	​	​	—	​	​	38,026	​	​	—

6. OTHER AFFILIATED PARTIES AND TRANSACTIONS

For the purposes of the financial statements, the Funds assume the following to be holdings by affiliates. As of October 31, 2022, affiliated transactions, if any, are listed at the end of the Fund’s respective Schedule of Investments.

The Advisor is an affiliate of New York Life Investment Management LLC (“NYLIM”) and of New York Life Insurance & Annuity Corporation (“NYLIC”). The following tables reflect shares of a Fund beneficially owned by NYLIM or NYLIC or funds or accounts managed by NYLIM or NYLIC where such holdings exceed 5% of the shares of the Fund. As of October 31, 2022, NYLIM and NYLIC or funds or accounts managed by NYLIM or NYLIC were not known to own beneficially greater than 5% of the shares of any Fund except as set forth below.

New York Life Insurance & Annuity Corporation

Fund	% Ownership
IQ Healthy Hearts ETF	​	66.3%
IQ Engender Equality ETF	​	80.0%
IQ Cleaner Transport ETF	​	76.0%
IQ Clean Oceans ETF	​	76.0%

179​

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

New York Life Investment Management LLC

Fund	% Ownership
IQ FTSE International Equity Currency Neutral ETF	​	44.0%
IQ Chaikin U.S. Large Cap ETF	​	98.3%
IQ Chaikin U.S. Small Cap ETF	​	85.3%
IQ 500 International ETF	​	95.3%
IQ Candriam ESG U.S. Equity ETF	​	84.7%
IQ Candriam ESG U.S. Mid Cap Equity ETF	​	95.0%
IQ Candriam ESG International Equity ETF	​	94.7%
IQ Global Equity R&D Leaders ETF	​	95.0%
IQ U.S. Large Cap R&D Leaders ETF	​	95.0%
IQ U.S. Mid Cap R&D Leaders ETF	​	95.0%

7. INVESTMENT TRANSACTIONS

Purchases and sales of investments (excluding short-term investments) for the period ended October 31, 2022 are as follows:

Fund

Purchases

Sales

Purchases In-Kind

​

Sales In-Kind

IQ Hedge Multi-Strategy Tracker ETF

​

$

395,223,072

​

$

385,547,930

​

$

142,721,003

​

​

$

211,258,302

IQ Hedge Macro Tracker ETF

​

​

1,828,689

​

​

1,785,041

​

​

—

​

​

​

1,274,102

IQ Hedge Market Neutral Tracker ETF

​

​

6,610,683

​

​

6,341,991

​

​

2,517,028

​

​

​

12,469,300

IQ Hedge Long/Short Tracker ETF

​

​

6,029,723

​

​

5,677,997

​

​

2,337,363

​

​

​

1,107,016

IQ Hedge Event-Driven Tracker ETF

​

​

3,311,188

​

​

3,214,403

​

​

—

​

​

​

2,102,639

IQ Real Return ETF

​

​

1,261,534

​

​

1,192,780

​

​

—

​

​

​

16,118,777

IQ S&P High Yield Low Volatility Bond ETF

​

​

8,934,535

​

​

9,009,017

​

​

—

​

​

​

2,122,836

IQ Merger Arbitrage ETF

​

​

696,682,906

​

​

767,408,422

​

​

31,645,876

​

​

​

55,965,040

IQ Global Resources ETF

​

​

3,357,065

​

​

2,818,105

​

​

8,558,050

���

​

​

3,061,142

IQ CBRE NextGen Real Estate ETF

​

​

36,206,961

​

​

36,746,723

​

​

2,233,099

​

​

​

5,913,420

IQ FTSE International Equity Currency Neutral ETF

​

​

24,140,608

​

​

11,205,580

​

​

35,218,500

​

​

​

10,144,323

IQ Chaikin U.S. Large Cap ETF

​

​

5,164,986

​

​

4,716,861

​

​

4,761,120

​

​

​

23,424,564

IQ Chaikin U.S. Small Cap ETF

​

​

5,438,839

​

​

5,116,046

​

​

55,874,935

​

​

​

9,371,041

IQ 500 International ETF

​

​

32,144,586

​

​

32,128,567

​

​

15,917,445

​

​

​

18,079,608

IQ Candriam ESG U.S. Large Cap Equity ETF

​

​

64,147,543

​

​

64,232,198

​

​

25,282,221

​

​

​

50,938,398

IQ Candriam ESG U.S. Mid Cap Equity ETF

​

​

—

​

​

—

​

​

5,035,037

​

​

​

—

IQ Candriam ESG International Equity ETF

​

​

26,320,132

​

​

26,820,496

​

​

17,931,709

​

​

​

6,358,748

IQ Healthy Hearts ETF

​

​

1,989,832

​

​

1,962,630

​

​

1,246,196

​

​

​

—

IQ Engender Equality ETF

​

​

2,378,629

​

​

2,380,342

​

​

—

​

​

​

—

IQ Cleaner Transport ETF

​

​

1,618,659

​

​

1,648,061

​

​

—

​

​

​

935,242

IQ Clean Oceans ETF

​

​

2,151,051

​

​

2,159,315

​

​

—

​

​

​

—

IQ Global Equity R&D Leaders ETF

​

​

574,391

​

​

560,493

​

​

—

​

​

​

—

IQ U.S. Large Cap R&D Leaders ETF

​

​

475,001

​

​

469,421

​

​

—

​

​

​

—

IQ U.S. Mid Cap R&D Leaders ETF

​

​

1,465,417

​

​

1,465,930

​

​

—

​

​

​

—

180

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

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 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 on the Statements of Operations.

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.

The 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 the IQ Merger Arbitrage ETF used Total Return Swaps 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, MLI 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, 2022, 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, 2022, open swap transactions, if any, are listed at the end of the Funds’ respective Schedule of Investments.

181​

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

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 IQ FTSE International Equity Currency Neutral ETF 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, 2022, open forward foreign currency contracts, if any, are listed at the end of the Funds’ respective Schedule of Investments.

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

​	Forward Currency Contract Risk
IQ FTSE International Equity Currency Neutral ETF	​	​	​
Unrealized appreciation on forward foreign currency contracts	​	$	1,071,285

Liability Derivatives

​	Forward Currency Contract Risk
IQ FTSE International Equity Currency Neutral ETF	​	​	​
Unrealized depreciation on forward foreign currency contracts	​	$	1,093,157

Total return swaps reflect a reset date as of October 31, 2022; therefore, there is no unrealized appreciation/depreciation reflected on the Statements of Assets and Liabilities.

182

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

Transactions in derivative instruments reflected on the Statements of Operations during the year ended October 31, 2022 were as follows:

Fund	Forward Currency Contract Risk			Equity Risk
IQ Hedge Multi-Strategy Tracker ETF	​	​	​	​	​	​
Realized gain (loss)	​	​	​	​	​	​
Swap transactions	​	​	​	​	$	227,561
IQ Hedge Macro Tracker ETF	​	​	​	​	​	​
Realized gain (loss)	​	​	​	​	​	​
Swap transactions	​	​	​	​	$	12,129
IQ Hedge Market Neutral Tracker ETF	​	​	​	​	​	​
Realized gain (loss)	​	​	​	​	​	​
Swap transactions	​	​	​	​	$	32,469
IQ Hedge Long/Short Tracker ETF	​	​	​	​	​	​
Realized gain (loss)	​	​	​	​	​	​
Swap transactions	​	​	​	​	$	(21,752)
IQ Hedge Event-Driven Tracker ETF	​	​	​	​	​	​
Realized gain (loss)	​	​	​	​	​	​
Swap transactions	​	​	​	​	$	(4,033)
IQ Merger Arbitrage ETF	​	​	​	​	​	​
Realized gain (loss)	​	​	​	​	​	​
Swap transactions	​	​	​	​	$	9,798,028
IQ FTSE International Equity Currency Neutral ETF	​	​	​	​	​	​
Realized gain (loss)	​	​	​	​	​	​
Forward foreign currency contracts	​	$	18,594,079	​	​	​
Change in unrealized appreciation (depreciation)	​	​	​	​	​	​
Forward foreign currency contracts	​	$	(7,187,724)	​	​	​

For the period ended October 31, 2022, 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 FTSE International Equity Currency Neutral ETF

Asset Derivatives

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Swap contracts

​

$

71,141,047

​

$

293,270

​

$

287,252

​

$

2,039,114

​

$

219,986

​

$

—

​

$

—

Forward foreign currency contracts

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

239,002,241

Liability Derivatives

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Swap contracts

​

$

(71,584,622)

​

$

(293,673)

​

$

(288,381)

​

$

(2,046,089)

​

$

(221,696)

​

$

(56,586,488)

​

$

—

Forward foreign currency contracts

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

(236,391,309)

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.

183​

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

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 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.

Cyber Security and Disruptions in Operations

With the increasing use of the Internet and technology in connection with the Fund’s operations, the Fund may be more susceptible to greater operational and information security risks resulting from breaches in cyber security. Cyber incidents can result from unintentional events (such as an inadvertent release of confidential information) or deliberate attacks by insiders or third-parties, including cyber criminals, competitors, nation-states and “hacktivists,” and can be perpetrated by a variety of complex means, including the use of stolen access credentials, malware or other computer viruses, ransomware, phishing, structured query language injection attacks, and distributed denial of service attacks, among other means. Cyber incidents may result in actual or potential adverse consequences for critical information and communications technology, or systems and networks that are vital to the Fund’s or their service providers’ operations, or otherwise impair Fund or service provider operations. For example, a cyber incident may cause operational disruptions and failures impacting information systems or information that a system processes, stores, or transmits, such as by theft, damage or destruction, or corruption or modification of or denial of access to data maintained online or digitally, denial of service on websites rendering the websites unavailable to intended users or not accessible for such users in a timely manner, and the unauthorized release or other exploitation of confidential information (i.e., identity theft or other privacy breaches). In addition, a cyber security breach may cause disruptions and impact the Fund’s business operations, which could potentially result in financial

1

Applies to IQ S&P High Yield Low Volatility Bond ETF

2

Applies to IQ FTSE International Equity Currency Neutral ETF

184

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

losses, inability to determine the Fund’s NAV including over an extended period, impediments to trading, the inability of shareholders to transact business, violation of applicable law, regulatory penalties and/or fines, compliance and other costs. The Fund and their shareholders could be negatively impacted as a result. Further, substantial costs may be incurred in order to prevent future cyber incidents.

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.

Depositary Receipts Risk

Each Fund will normally invest at least 80% of its total assets in the securities of its Underlying Index and in depositary receipts based on the securities in its Underlying Index. Types of depositary receipts in which a Fund may invest include ADRs, EDRs and GDRs. ADRs are receipts that are traded in the U.S. evidencing ownership of the underlying foreign securities and are denominated in U.S. dollars. EDRs and GDRs are receipts issued by a non-U.S. financial institution evidencing ownership of underlying foreign or U.S. securities and usually are denominated in foreign currencies. EDRs and GDRs may not be denominated in the same currency as the securities they represent. Generally, EDRs and GDRs are designed for use in the foreign securities markets. To the extent a Fund invests in ADRs, such ADRs will be listed on a national securities exchange. To the extent a Fund invests in GDRs or EDRs, such GDRs and EDRs will be listed on a foreign exchange. A Fund will not invest in any unlisted depositary receipt or any depositary receipt for which pricing information is not readily available. Generally, all depositary receipts must be sponsored. The Fund, however, may invest in unsponsored depositary receipts under certain limited circumstances. A non- sponsored depository may not provide the same shareholder information that a sponsored depository is required to provide under its contractual arrangement with the issuer. Therefore, there may be less information available regarding such issuers and there may not be a correlation between such information and the market value of the depositary receipts.

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.

185​

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

Emerging Market Securities Risk

A Fund may invest in securities of issuers located in emerging countries. The risks of foreign investment are heightened when the issuer is located in an emerging country. Emerging countries are generally located in the Asia and Pacific regions, the Middle East, Eastern Europe, Central and South America and Africa. The securities markets of emerging countries are less liquid, are especially subject to greater price volatility, have smaller market capitalizations, have less government regulation and are not subject to as extensive and frequent accounting, financial and other reporting requirements as the securities markets of more developed countries.

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.

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.

3

Applies to IQ Candriam ESG U.S. Large Cap Equity ETF, IQ Candriam ESG U.S. Mid Cap Equity ETF, IQ Candriam ESG International Equity ETF, IQ Healthy Hearts ETF, IQ Engender Equality ETF, IQ Cleaner Transport ETF, and IQ Clean Oceans ETF.

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, and IQ Hedge Event-Driven Tracker ETF.

186

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

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 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 Capitalization Companies Risk5

Large-capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Large-capitalization companies may be more mature and subject to more limited growth potential compared with smaller capitalization companies. Over certain periods, the performance of large-capitalization companies has trailed the performance of overall markets.

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's investments in certain debt securities, derivatives or other financial instruments may reference the London Interbank Offered Rate (“LIBOR”), as a “benchmark” or “reference rate” for various interest rate calculations.

As of January 1, 2022, the United Kingdom Financial Conduct Authority, which regulates LIBOR, ceased its active encouragement of banks to provide the quotations needed to sustain LIBOR. However, many of the most widely used LIBOR tenors are expected to continue until mid-2023. It is anticipated that LIBOR will be

1

Applies to IQ S&P High Yield Low Volatility Bond ETF

5

Applies to IQ U.S. Large Cap R&D Leaders ETF

187​

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

discontinued or will no longer be sufficiently robust to be representative of its underlying market around that time.

Although the transition away from LIBOR in the marketplace has become increasingly well defined, with an increasing volume of newly issued financial instruments referencing an alternative reference rate, , there are still 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 amend 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.

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 Disruption Risk

In late February 2022, the Russian military invaded the Ukraine, which amplified existing geopolitical tensions among Russia, Ukraine, Europe, and many other countries including the U.S. and other members of the North Atlantic Treaty Organization (“NATO”). In response, various countries, including the U.S., the United Kingdom, and members of the European Union issued broad-ranging economic sanctions against Russia, Russian companies and financial institutions, Russian individuals and others. Additional sanctions may be imposed in the future. Such sanctions (and any future sanctions) and other actions against Russia in light of Russia’s invasion of Ukraine will adversely impact the economies of Russia and Ukraine. Certain sectors of each country’s economy may be particularly affected, including but not limited to, financials, energy, metals and mining, engineering and defense and defense-related materials sectors. Further, a number of large corporations and U.S. and foreign governmental entities have announced plans to divest interests or otherwise curtail business dealings in Russia or with certain Russian businesses. These events have resulted in (and may continue to result in) a loss of liquidity and value of Russian and Ukrainian securities and, in some cases, a complete inability to trade or settle trades in certain Russian securities. Further actions are likely to be taken by the international community, including governments and private corporations, that will adversely impact the Russian economy in particular. Such actions may include boycotts, tariffs, and purchasing and financing restrictions on Russia’s government, companies and certain individuals, or other unforeseeable actions. The ramifications of the hostilities and sanctions also may negatively impact other regional and global economic markets (including Europe and the U.S.), companies in other countries (particularly those that have done business with Russia) and various sectors, industries and markets for securities and commodities globally, such as oil and natural gas and precious metals. Accordingly, the actions discussed above and the potential for a wider conflict could increase financial market volatility and have severe negative consequences for regional and global markets, industries and companies in which the Fund invests. Moreover, the extent and duration of

188

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

the Ukrainian invasion or future escalation of such hostilities, the extent and impact of existing and future sanctions, market disruptions and volatility, and the result of any diplomatic negotiations cannot be predicted. These and any related events could have a significant impact on a Fund’s performance and the value of an investment in the Fund.

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.

An outbreak of COVID-19 has developed into a global pandemic and has resulted in travel restrictions, closure of international borders, certain businesses and securities markets, restrictions on securities trading activities, prolonged quarantines, supply chain disruptions, and lower consumer demand, as well as general concern and uncertainty. The full effects, duration and costs of the COVID-19 pandemic are uncertain, and the circumstances surrounding the COVID-19 pandemic will continue to evolve and may adversely affect a Fund and its investments.

Mid-Capitalization Companies Risk6

Stock prices of mid-capitalization companies may be more volatile than those of large-capitalization companies, therefore impacting the value of the Fund’s investment in mid-capitalization companies. Stock prices of mid-capitalization companies are also more vulnerable than those of large-capitalization companies to adverse business or economic developments, and the stocks of mid-capitalization companies may be less liquid, making it more difficult for the Fund to buy and sell them. In addition, mid-capitalization companies generally have less diverse product lines than large-capitalization companies and are more susceptible to adverse developments related to their products.

New Fund Risk7

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 Risk8

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.

6

Applies to IQ Candriam ESG U.S. Mid Cap Equity ETF and IQ U.S. Mid Cap R&D Leaders ETF

7

Applies to IQ Candriam ESG U.S. Mid Cap Equity ETF, IQ Global Equity R&D Leaders ETF, IQ U.S. Large Cap R&D Leaders ETF, and IQ U.S. Mid Cap R&D Leaders ETF.

8

Applies to IQ CBRE NextGen Real Estate ETF, IQ Chaikin U.S. Small Cap ETF, IQ Candriam ESG U.S. Large Cap Equity ETF, IQ Candriam ESG International Equity ETF, IQ Engender Equality ETF, IQ Cleaner Transport ETF, and IQ Clean Oceans ETF.

189​

Notes to Financial Statements (continued)

October 31, 2022 (unaudited)

Total Return Swap Risk9

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.

U.S. Investing Risk

Certain Funds may have significant exposure to U.S. issuers. A decrease in imports or exports, changes in trade regulations, tariffs or the threat of tariffs, and/or an economic recession in the U.S. may have a material adverse effect on the U.S. economy and the securities listed on U.S. exchanges. Proposed and adopted policy and legislative changes in the U.S. are changing many aspects of financial and other regulation and may have a significant effect on the U.S. markets generally, as well as the value of certain securities. In addition, a continued rise in the U.S. public debt level or U.S. austerity measures may adversely affect U.S. economic growth and the securities to which the Fund has exposure.

10. SUBSEQUENT EVENTS

On December 8, 2022, the Board of Trustees of the IndexIQ ETF Trust, upon the recommendation from the Fund’s Advisor, approved a proposal to liquidate the 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 S&P High Yield Low Volatility Bond ETF pursuant to the terms of a plan of liquidation. After considering all of the information presented to it, the Board concluded that it would be in the best interest of each Fund and its shareholders to liquidate the Funds. The Funds will be liquidated on or about February 7, 2023.

Other than the Fund liquidation, management has determined that there were no other material events that would require disclosure in the preparation of these financial statements.

9

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 Merger Arbitrage ETF.

190

Board Review of Investment Advisory Agreements 

October 31, 2022 (unaudited)

Approval Relating to the IQ Candriam ESG U.S. Mid Cap Equity ETF

The Board (the members of which are referred to as “Trustees”), including the Trustees who are not an “interested person” of the Trust, as defined by the Investment Company Act of 1940 (the “1940 Act”)(the “Independent Trustees”), met in person on September 28, 2022, to consider the approval of an amendment to the Investment Advisory Agreement (the “Advisory Agreement Amendment”), with respect to the IQ Candriam ESG U.S. Mid Cap Equity ETF (the “New Fund”) between the Trust and IndexIQ Advisors LLC (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 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, including 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 Fund, and the fee that the Advisor will charge to the New Fund; (2) information concerning the business and operations, compliance program and portfolio management team of the Advisor; (3) information describing the New Fund’s anticipated operating expenses; (4) data comparing the proposed fee rate for advisory services to be charged to the New Fund and the expected expense ratio to fees paid by and expense ratios of other registered investment companies with similar investment objectives and policies as those of the New Fund; (5) the extent to which economies of scale would be realized as the New Fund grows; (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 the New Fund was a passively managed exchange-traded fund (“ETF”) designed to track an index created by an affiliate of the Advisor.

In reviewing such factors, the Board relied on certain information, including (1) a copy of the Advisory Agreement Amendment; (2) information about the proposed expense limitation and fee waiver agreement; (3) information describing the Advisor and the services to be provided thereby; (4) information regarding the compliance program and portfolio management team of the Advisor; (5) a copy of the Form ADV of 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 by personnel of the Advisor. In addition, the Board was provided data comparing the advisory fees and operating expenses of the New Fund with expenses and performance of other registered investment companies with similar investment objectives and policies. The Trustees also considered their personal experiences as Trustees and participants in the investment management 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 Fund:

1.

The nature, extent, and quality of the facilities and services to be provided to the New Fund by the Advisor. The Independent Trustees reviewed the services that the Advisor would provide to the New Fund. In connection with the investment advisory services to be provided to the New Fund, the Independent Trustees noted the responsibilities that the Advisor would have as the New Fund’s investment adviser, including overall supervisory responsibility for the general management and investment of the New Fund’s 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 Fund.

191​

Board Review of Investment Advisory Agreements (continued)

October 31, 2022 (unaudited)

The Independent Trustees reviewed and considered the Advisor’s performance in managing the existing Funds of the Trust. Based on their consideration and review of the foregoing information, the Independent Trustees determined that the New Fund would likely to benefit from the nature, quality, and extent of these services, as well as the Advisor’s ability to render such services based on its experience, operations, and resources.

2.

Comparison of services to be provided and fees to be charged by the Advisor and other investment advisers to similar clients, and the cost of the services to be provided and profits to be realized by the Advisor from its relationship with the New Fund. 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 the Advisor to contracts of other investment advisers with respect to similar ETFs. In particular, the Independent Trustees compared the New Fund’s proposed advisory fee and projected expense ratio for the New Fund’s first year of operations to other ETFs in the New Fund’s peer group. The Independent Trustees also considered that the New Fund will have in place an Expense Limitation Agreement to limit the total operating expenses.

After comparing the New Fund’s proposed fees with those of other funds in the New Fund’s peer group, and in light of the nature, quality, and extent of services proposed to be provided by the Advisor and the costs expected to be incurred by the Advisor in rendering those services, the Independent Trustees concluded that the fee proposed to be paid to the Advisor with respect to the New Fund was fair and reasonable.

3.

The Advisor’s profitability and the extent to which economies of scale would be realized as the New Fund grows and whether fee levels would reflect such economies of scale. The Independent Trustees next considered potential economies of scale and the anticipated costs and projected profitability of the Advisor in connection with its serving as investment adviser to the New Fund, including operational costs. Due to the fact that the New Fund had not yet commenced operations, the Independent Trustees made no determination with respect to economies of scale or the impact of the New Fund on the Advisor’s profitability.

4.

Investment performance of the Advisor. Because the New Fund had not commenced operations, the Independent Trustees could not consider the investment performance of the New Fund.

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 the Advisor was reasonable and fair to the New Fund 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 Fund. The Board and the Independent Trustees, voting separately, approved the Advisory Agreement Amendment with respect to the New Fund.

192

IndexIQ ETF Trust

Semi-Annual Report | October 31, 2022

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 CBRE NextGen Real Estate ETF
   (Formerly IQ U.S. Real Estate Small Cap ETF)    (ROOF)
IQ FTSE International Equity Currency Neutral ETF
   (Formerly 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. Large Cap Equity ETF
   (Formerly IQ Candriam ESG US Equity ETF)    (IQSU)
IQ Candriam ESG U.S. Mid Cap Equity ETF (IQSM)
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)
IQ Global Equity R&D Leaders ETF (WRND)
IQ U.S. Large Cap R&D Leaders ETF (LRND)
IQ U.S. Mid Cap R&D Leaders ETF (MRND)

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

5013915.2ME10-12/22

(b) Not applicable

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.

(b) Not applicable.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders.

There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of 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.

(a)(1) Not applicable.

(a)(2) Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.

(a)(3) Not applicable.

(a)(4) There was no change in the Registrant’s independent public accountant during the period covered by the report.

(b) Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) IndexIQ ETF Trust

By (Signature and Title)	/s/ Kirk C. Lehneis
	Kirk C. Lehneis
	(Principal Executive Officer)

Date December 28, 2022

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)	/s/ Kirk C. Lehneis
	Kirk C. Lehneis
	(Principal Executive Officer)

Date December 28, 2022

By (Signature and Title)	/s/ Adefolahan O. Oyefeso
	Adefolahan O. Oyefeso
	(Principal Financial Officer)

Date December 28, 2022