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 811-22739
IndexIQ Active ETF Trust
(Exact name of registrant as specified in charter)
51 Madison Avenue, 4th Floor
New York, NY 10010
(Address of principal executive offices) (Zip code)
Kirk C. Lehneis
IndexIQ Advisors LLC
51 Madison Avenue, 4th Floor
New York, NY 10010
(Name and address of agent for service)
Registrant's telephone number, including area code: 1-888-474-7725
Date of fiscal year end: April 30
Date of reporting period: October 31, 2018
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Reports to Stockholders.
The Report to Shareholders is attached herewith.
The investment return and value of each of the Funds’ shares will fluctuate so that an investor’s shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Consider the Funds’ investment objectives, risks, charges and expenses carefully before investing. The prospectus and the statement of additional information include this and other relevant information about the Funds and are available by visiting nylinvestments.com/etfs or by calling 1-888-474-7725. Read the prospectus carefully before investing. Each of the Funds’ performance that is current to the most recent month-end is available by visiting nylinvestments.com/etfs or by calling 1-888-474-7725. You may obtain a description of the IndexIQ Active ETF Trust proxy voting policies, procedures and information regarding how each Fund voted proxies relating to portfolio securities during the 12-month period ending June 30 (available by August 31) without charge, upon request, by calling 1-888-474-7725 or by accessing the SEC’swebsite at sec.gov. The Funds file their complete schedules of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Forms N-Q is available on the Commission’sweb site at sec.gov. Each Funds’ premium/discount information is available, free of charge, on the Funds’website at nylinvestments.com/etfs or by calling 1-888-474-7725. IndexIQ® and IQ® are registered service marks of New York Life Insurance Company. New York Life Investments is a service mark and name under which New York Life Investment Management LLC does business. New York Life Investments, an indirect subsidiary of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010, provides investment advisory products and services. IndexIQ® is an indirect wholly owned subsidiary of New York Life Investment Management Holdings LLC. ALPS Distributors, Inc. (“ALPS”) is the principal underwriter of the ETFs, and NY LIFE Distributors LLC is a distributor of the ETFs. NY LIFE Distributors LLC is located at 30 Hudson Street, Jersey City, NJ 07302. ALPS Distributors, Inc. is not affiliated with NY LIFE Distributors LLC. NY LIFE Distributors LLC is a Member FINRA/SIPC.
• | Receive email notifications when your most recent shareholder communications are available for review. |
• | Access prospectuses, annual reports and semi-annual reports online. |
1. | Visit https://www.icsdelivery.com/live/ |
2. | Follow the simple enrollment instructions |
Table of Contents
5 | ||||||
6 | ||||||
7 | ||||||
Schedules of Investments | ||||||
8 | ||||||
11 | ||||||
14 | ||||||
15 | ||||||
16 | ||||||
17 | ||||||
19 |
Kirk C. Lehneis, President
Beginning Account Value 05/01/18 | Ending Account Value 10/31/18 | Annualized Net Expense Ratios for the Period 05/01/18 to 10/31/18 | Expenses Paid for Period 05/01/18 to 10/31/181 | |||||||||||||||
IQ MacKay Municipal Insured ETF | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,005.60 | 0.30 | % | $ | 1.52 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.69 | 0.30 | % | $ | 1.53 | ||||||||||
IQ MacKay Municipal Intermediate ETF | �� | |||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,005.60 | 0.30 | % | $ | 1.52 | ||||||||||
Hypothetical (assuming a 5% return before expenses) | $ | 1,000.00 | $ | 1,023.69 | 0.30 | % | $ | 1.53 |
1 | Expenses are equal to each Fund’s annualized expense ratio multiplied by the average account value over the period, divided by 365 and multiplied by 184 (to reflect the six-month period). The table above represents the actual expense incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of the underlying fund investments in which it invests. Such indirect expenses are not included in the above reported expense figures. |
October 31, 2018 (unaudited)
IQ MacKay Municipal Insured ETF
Net Assets ($ mil): $15.9
% of Net Assets | ||||||
Illinois | 24.2 | % | ||||
Money Market Fund | 9.2 | |||||
Kentucky | 8.7 | |||||
Pennsylvania | 8.5 | |||||
Connecticut | 8.3 | |||||
California | 8.2 | |||||
Colorado | 7.3 | |||||
Massachusetts | 4.7 | |||||
New Jersey | 4.0 | |||||
Puerto Rico | 3.9 | |||||
New York | 3.5 | |||||
Maine | 3.3 | |||||
Texas | 2.4 | |||||
Louisiana | 1.1 | |||||
Kansas | 0.7 | |||||
Nevada | 0.6 | |||||
Iowa | 0.4 | |||||
Total Investments | 99.0 | |||||
Other Assets and Liabilities, Net | 1.0 | |||||
Net Assets | 100.0 | % |
IQ MacKay Municipal Intermediate ETF
% of Net Assets | ||||||
Illinois | 17.8 | % | ||||
New York | 9.4 | |||||
New Jersey | 8.1 | |||||
Connecticut | 7.9 | |||||
Money Market Fund | 6.7 | |||||
California | 5.5 | |||||
Arizona | 5.1 | |||||
Louisiana | 4.3 | |||||
Utah | 4.0 | |||||
Florida | 3.8 | |||||
Kentucky | 3.7 | |||||
Washington | 3.6 | |||||
Massachusetts | 3.4 | |||||
Alabama | 2.3 | |||||
Colorado | 2.2 | |||||
Puerto Rico | 2.1 | |||||
Oklahoma | 1.9 | |||||
Pennsylvania | 1.9 | |||||
Texas | 1.8 | |||||
Maine | 1.8 | |||||
Alaska | 1.7 | |||||
Nebraska | 1.7 | |||||
Montana | 1.4 | |||||
Indiana | 0.4 | |||||
Kansas | 0.4 | |||||
Iowa | 0.2 | |||||
Total Investments | 103.1 | |||||
Other Assets and Liabilities, Net | (3.1 | ) | ||||
Net Assets | 100.0 | % |
* | Each Fund’s portfolio is subject to change. |
See notes to financial statements.
Principal Amount | Value | |||||||||
Municipal Bonds — 89.8% | ||||||||||
California — 8.2% | ||||||||||
City of Tulare CA Water Revenue, Revenue Bonds Insured: BAM | ||||||||||
5.000%, due 12/1/30 | $ | 165,000 | $ | 188,381 | ||||||
El Camino Healthcare District, General Obligation Bonds Insured: NATL | ||||||||||
3.430%, due 8/1/29(a) | 700,000 | 485,695 | ||||||||
West Sacramento Financing Authority, Revenue Bonds Insured: BAM | ||||||||||
4.000%, due 10/1/40 | 620,000 | 628,345 | ||||||||
1,302,421 | ||||||||||
Colorado — 7.3% | ||||||||||
BNC Metropolitan District No 1, General Obligation Bonds Series A Insured: BAM | ||||||||||
5.000%, due 12/1/37 | 545,000 | 589,592 | ||||||||
Rampart Range Metropolitan District No 1, Revenue Bonds Insured: AGM | ||||||||||
5.000%, due 12/1/42 | 520,000 | 565,859 | ||||||||
1,155,451 | ||||||||||
Connecticut — 8.3% | ||||||||||
City of Hartford CT, General Obligation Bonds Series A Insured: AGM | ||||||||||
4.000%, due 7/1/34 | 25,000 | 25,364 | ||||||||
5.000%, due 7/1/24 | 20,000 | 22,025 | ||||||||
5.000%, due 7/1/27 | 60,000 | 66,547 | ||||||||
5.000%, due 7/1/28 | 560,000 | 618,979 | ||||||||
City of Hartford CT, General Obligation Bonds Series B Insured: AGM | ||||||||||
5.000%, due 10/1/23 | 15,000 | 16,469 | ||||||||
City of Hartford CT, General Obligation Bonds Series C Insured: AGM | ||||||||||
5.000%, due 7/15/32 | 20,000 | 21,840 | ||||||||
Town of Hamden CT, General Obligation Bonds Series A Insured: BAM | ||||||||||
5.000%, due 8/15/30 | 500,000 | 551,635 | ||||||||
1,322,859 | ||||||||||
Illinois — 24.2% | ||||||||||
Chicago Board of Education, General Obligation Bonds Series A Insured: AGM | ||||||||||
5.000%, due 12/1/31 | 500,000 | 546,340 | ||||||||
City of Chicago IL Waterworks Revenue, Revenue Bonds Insured: AGM | ||||||||||
5.250%, due 11/1/34 | 225,000 | 249,122 | ||||||||
Governors State University, Certificates of Participation Insured: BAM | ||||||||||
5.000%, due 7/1/23 | 385,000 | 413,232 | ||||||||
Principal Amount | Value | |||||||||
Municipal Bonds (continued) | ||||||||||
Illinois (continued) | ||||||||||
Illinois State Toll Highway Authority, Revenue Bonds Series A-2 Insured: AGM | ||||||||||
1.600%, due 1/1/31(b) | $ | 200,000 | $ | 200,000 | ||||||
Lake County Community Consolidated School District No 73 Hawthorn, General Obligation Bonds Insured: NATL | ||||||||||
2.000%, due 12/1/18(a) | 500,000 | 499,155 | ||||||||
Madison County Community Unit School District No 7 Edwardsville, General Obligation Bonds Insured: BAM | ||||||||||
5.000%, due 12/1/30 | 275,000 | 296,728 | ||||||||
State of Illinois, Revenue Bonds Series 2 Insured: NATL | ||||||||||
5.750%, due 6/15/19 | 100,000 | 102,020 | ||||||||
Town of Cicero IL, General Obligation Bonds Insured: BAM | ||||||||||
5.000%, due 1/1/30 | 475,000 | 519,507 | ||||||||
Village of Rosemont IL, General Obligation Bonds Series A Insured: AGM | ||||||||||
5.000%, due 12/1/27 | 325,000 | 360,009 | ||||||||
Will County School District No 114 Manhattan, General Obligation Bonds Insured: MAC | ||||||||||
3.500%, due 1/1/27 | 360,000 | 362,020 | ||||||||
Woodford Lasalle Livingston Etc Counties Community Unit Sch Dist No 6 Fieldcrest, General Obligation Bonds Insured: MAC | ||||||||||
4.000%, due 12/1/21 | 280,000 | 288,758 | ||||||||
3,836,891 | ||||||||||
Iowa — 0.4% | ||||||||||
Clarke Community School District, General Obligation Bonds Insured: AGM | ||||||||||
4.000%, due 6/1/19 | 60,000 | 60,685 | ||||||||
Kansas — 0.7% | ||||||||||
Kansas Municipal Energy Agency, Revenue Bonds Series A Insured: BAM | ||||||||||
5.000%, due 4/1/31 | 100,000 | 109,036 | ||||||||
Kentucky — 8.7% | ||||||||||
County of Knox KY, General Obligation Bonds Insured: BAM | ||||||||||
5.000%, due 10/1/35 | 500,000 | 548,160 | ||||||||
Kentucky Asset Liability Commission, Revenue Bonds Series B Insured: NATL | ||||||||||
2.120%, due 11/1/25(b) | 130,000 | 127,292 | ||||||||
Kentucky Economic Development Finance Authority, Revenue Bonds Series A Insured: AGM | ||||||||||
4.000%, due 6/1/37 | 500,000 | 486,545 |
See notes to financial statements.
Schedules of Investments — IQ MacKay Municipal Insured ETF (continued)
October 31, 2018 (unaudited)
Principal Amount | Value | |||||||||
Municipal Bonds (continued) | ||||||||||
Kentucky (continued) | ||||||||||
Louisville & Jefferson County Visitors and Convention Commission, Revenue Bonds Insured: BAM | ||||||||||
4.000%, due 6/1/36 | $ | 225,000 | $ | 224,431 | ||||||
1,386,428 | ||||||||||
Louisiana — 1.1% | ||||||||||
Port New Orleans Board of Commissioners, Revenue Bonds Series B Insured: AGM | ||||||||||
5.000%, due 4/1/36 | 165,000 | 181,502 | ||||||||
Maine — 3.3% | ||||||||||
Finance Authority of Maine, Revenue Bonds Series A-1 Insured: AGC | ||||||||||
5.000%, due 12/1/25 | 155,000 | 169,058 | ||||||||
5.000%, due 12/1/26 | 155,000 | 169,638 | ||||||||
5.000%, due 12/1/27 | 170,000 | 186,359 | ||||||||
525,055 | ||||||||||
Massachusetts — 4.7% | ||||||||||
Commonwealth of Massachusetts, General Obligation Bonds Series A Insured: NATL | ||||||||||
2.140%, due 5/1/37(b) | 250,000 | 241,208 | ||||||||
Massachusetts Development Finance Agency, Revenue Bonds Series A | ||||||||||
5.500%, due 11/15/36 | 500,000 | 500,665 | ||||||||
741,873 | �� | |||||||||
Nevada — 0.6% | ||||||||||
County of Clark Department of Aviation, Revenue Bonds Series D-3 | ||||||||||
1.590%, due 7/1/29(b) | 100,000 | 100,000 | ||||||||
New Jersey — 4.0% | ||||||||||
City of Atlantic City NJ, General Obligation Bonds Series B Insured: AGM | ||||||||||
4.000%, due 3/1/42 | 350,000 | 342,184 | ||||||||
New Jersey Educational Facilities Authority, Revenue Bonds Series C Insured: AGM | ||||||||||
5.000%, due 7/1/25 | 255,000 | 289,377 | ||||||||
631,561 | ||||||||||
New York — 3.5% | ||||||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, Revenue Bonds Series B-1 | ||||||||||
5.000%, due 8/1/34 | 500,000 | 560,870 | ||||||||
Principal Amount | Value | |||||||||
Municipal Bonds (continued) | ||||||||||
Pennsylvania — 8.5% | ||||||||||
Coatesville Area School District Building Authority, Revenue Bonds Insured: BAM | ||||||||||
5.000%, due 12/1/22 | $ | 400,000 | $ | 433,060 | ||||||
Luzerne County Industrial Development Authority, Revenue Bonds Insured: AGM | ||||||||||
5.000%, due 12/15/26 | 525,000 | 579,794 | ||||||||
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds Series A Insured: XLCA | ||||||||||
2.205%, due 7/1/27(b) | 230,000 | 222,251 | ||||||||
School District of Philadelphia (The), General Obligation Bonds Insured: BHAC-CR, FGIC | ||||||||||
5.000%, due 6/1/34 | 100,000 | 112,226 | ||||||||
1,347,331 | ||||||||||
Puerto Rico — 3.9% | ||||||||||
Commonwealth of Puerto Rico, General Obligation Bonds Series A Insured: AGM | ||||||||||
5.000%, due 7/1/35 | 325,000 | 343,103 | ||||||||
Commonwealth of Puerto Rico, General Obligation Bonds Series A Insured: NATL | ||||||||||
5.500%, due 7/1/19 | 250,000 | 253,570 | ||||||||
Puerto Rico Electric Power Authority, Revenue Bonds Series PP Insured: NATL | ||||||||||
5.000%, due 7/1/24 | 25,000 | 25,108 | ||||||||
621,781 | ||||||||||
Texas — 2.4% | ||||||||||
Fort Bend County Municipal Utility District No. 161, General Obligation Bonds Insured: AGM | ||||||||||
3.625%, due 9/1/40 | 250,000 | 224,472 | ||||||||
New Hope Cultural Education Facilities Finance Corp., Revenue Bonds Series B-1 Insured: AGM | ||||||||||
4.000%, due 7/1/30 | 155,000 | 157,607 | ||||||||
382,079 | ||||||||||
Total Municipal Bonds (Cost $14,634,843) | 14,265,823 |
See notes to financial statements.
Schedules of Investments — IQ MacKay Municipal Insured ETF (continued)
October 31, 2018 (unaudited)
Shares | Value | |||||||||
Short-Term Investment — 9.2% | ||||||||||
Money Market Fund — 9.2% | ||||||||||
Fidelity Investments Money Market Treasury Only Class I, 2.05%(c) (Cost $1,464,832) | 1,464,832 | $ | 1,464,832 | |||||||
Total Investments — 99.0% (Cost $16,099,675) | 15,730,655 | |||||||||
Other Assets and Liabilities, Net — 1.0% | 157,317 | |||||||||
Net Assets — 100.0% | $ | 15,887,972 |
(a) | The security was issued on a discount basis with no stated coupon rate. Rate shown reflects the effective yield. |
(b) | Variable rate securities that may be tendered back to the issuer at any time prior to maturity at par. Rate shown is the rate in effect as of October 31, 2018. |
(c) | Reflects the 7-day yield at October 31, 2018. |
BHAC-CR — | Berkshire Hathaway Assurance Corp. Custodial Receipts |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(d) | ||||||||||||||||||
Municipal Bonds | $ | — | $ | 14,265,823 | $ | — | $ | 14,265,823 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 1,464,832 | — | — | 1,464,832 | ||||||||||||||
Total Investments in Securities | $ | 1,464,832 | $ | 14,265,823 | $ | — | $ | 15,730,655 |
(d) | For a complete listing of investments and their states, see the Schedules of Investments. |
See notes to financial statements.
Principal Amount | Value | |||||||||
Municipal Bonds — 96.4% | ||||||||||
Alabama — 2.3% | ||||||||||
City of Gadsden AL, General Obligation Bonds Series B Insured: BAM | ||||||||||
5.000%, due 8/1/28 | $ | 600,000 | $ | 679,356 | ||||||
Alaska — 1.7% | ||||||||||
Alaska Industrial Development & Export Authority, Revenue Bonds | ||||||||||
3.500%, due 12/1/20 | 500,000 | 502,840 | ||||||||
Arizona — 5.1% | ||||||||||
Arizona Health Facilities Authority, Revenue Bonds Series C | ||||||||||
1.670%, due 1/1/46(a) | 500,000 | 500,000 | ||||||||
City of Phoenix Civic Improvement Corp., Revenue Bonds Series A | ||||||||||
5.000%, due 7/1/34 | 500,000 | 552,465 | ||||||||
Maricopa County Industrial Development Authority, Revenue Bonds Series C | ||||||||||
5.000%, due 7/1/27 | 100,000 | 113,846 | ||||||||
5.000%, due 7/1/37 | 300,000 | 328,203 | ||||||||
1,494,514 | ||||||||||
California — 5.5% | ||||||||||
El Camino Healthcare District, General Obligation Bonds Insured: NATL | ||||||||||
3.430%, due 8/1/29(b) | 700,000 | 485,695 | ||||||||
Pittsburg Successor Agency Redevelopment Agency, Tax Allocation Series A Insured: AGM | ||||||||||
5.000%, due 9/1/25 | 500,000 | 573,290 | ||||||||
State of California, General Obligation Bonds | ||||||||||
5.000%, due 10/1/27 | 250,000 | 288,758 | ||||||||
West Sacramento Financing Authority, Revenue Bonds Insured: BAM | ||||||||||
4.000%, due 10/1/31 | 250,000 | 262,428 | ||||||||
1,610,171 | ||||||||||
Colorado — 2.2% | ||||||||||
City & County of Denver Co. Airport System Revenue, Revenue Bonds Series A | ||||||||||
5.000%, due 11/15/18 | 500,000 | 500,565 | ||||||||
Interlocken Metropolitan District, General Obligation Bonds Series A-1 Insured: AGM | ||||||||||
5.000%, due 12/1/19 | 150,000 | 154,482 | ||||||||
655,047 | ||||||||||
Connecticut — 7.9% | ||||||||||
City of Bridgeport CT, General Obligation Bonds Series A | ||||||||||
5.000%, due 11/1/33 | 600,000 | 642,624 | ||||||||
City of Hartford CT, General Obligation Bonds Series A | ||||||||||
Insured: AGM 5.000%, due 7/1/28 | 560,000 | 618,979 | ||||||||
Principal Amount | Value | |||||||||
Municipal Bonds (continued) | ||||||||||
Connecticut (continued) | ||||||||||
City of Hartford CT, General Obligation Bonds Series A (continued) | ||||||||||
Insured: BAM | ||||||||||
5.000%, due 4/1/30 | $ | 100,000 | $ | 106,927 | ||||||
Connecticut State Health & Educational Facilities Authority, Revenue Bonds Series I-1 | ||||||||||
5.000%, due 7/1/33 | 350,000 | 386,998 | ||||||||
Town of Hamden CT, General Obligation Bonds Series A Insured: BAM | ||||||||||
5.000%, due 8/15/30 | 500,000 | 551,635 | ||||||||
2,307,163 | ||||||||||
Florida — 3.8% | ||||||||||
City of Gainesville FL Utilities System Revenue, Revenue Bonds Series A | ||||||||||
5.000%, due 10/1/33 | 500,000 | 568,060 | ||||||||
County of Broward FL Airport System Revenue, Revenue Bonds | ||||||||||
5.000%, due 10/1/34 | 500,000 | 546,575 | ||||||||
1,114,635 | ||||||||||
Illinois — 17.8% | ||||||||||
City of Chicago IL Waterworks Revenue, Revenue Bonds Insured: AGM | ||||||||||
5.250%, due 11/1/34 | 230,000 | 254,658 | ||||||||
Governors State University, Certificate of Participation Insured: BAM | ||||||||||
5.000%, due 7/1/20 | 250,000 | 258,335 | ||||||||
Illinois Finance Authority, Revenue Bonds | ||||||||||
3.000%, due 12/1/18 | 125,000 | 125,029 | ||||||||
5.000%, due 9/1/25 | 500,000 | 534,850 | ||||||||
Lake County Community Consolidated School District No. 73 Hawthorn, General Obligation Bonds Insured: NATL | ||||||||||
2.000%, due 12/1/18(b) | 400,000 | 399,324 | ||||||||
St. Charles Park District, General Obligation Bonds Series A | ||||||||||
5.000%, due 12/15/18 | 600,000 | 602,220 | ||||||||
Town of Cicero IL, General Obligation Bonds Insured: BAM | ||||||||||
5.000%, due 12/1/26 | 400,000 | 432,900 | ||||||||
5.000%, due 1/1/30 | 450,000 | 492,165 | ||||||||
Village of Matteson IL, Revenue Bonds Insured: BAM | ||||||||||
5.000%, due 12/1/29 | 615,000 | 667,607 | ||||||||
Village of Rosemont IL, General Obligation Bonds Series A Insured: AGM | ||||||||||
5.000%, due 12/1/27 | 325,000 | 360,009 | ||||||||
Will County School District No. 114 Manhattan, General Obligation Bonds Insured: MAC | ||||||||||
3.500%, due 1/1/26 | 840,000 | 849,484 | ||||||||
3.500%, due 1/1/27 | 260,000 | 261,459 | ||||||||
5,238,040 |
See notes to financial statements.
Schedules of Investments — IQ MacKay Municipal Intermediate ETF (continued)
October 31, 2018 (unaudited)
Principal Amount | Value | |||||||||
Municipal Bonds (continued) | ||||||||||
Indiana — 0.4% | ||||||||||
Hamilton Southeastern Consolidated School Building Corp., Revenue Bonds | ||||||||||
5.000%, due 7/15/28 | $ | 100,000 | $ | 116,084 | ||||||
Iowa — 0.2% | ||||||||||
Clarke Community School District, General Obligation Bonds Insured: AGM | ||||||||||
4.000%, due 6/1/19 | 60,000 | 60,685 | ||||||||
Kansas — 0.4% | ||||||||||
Kansas Municipal Energy Agency, Revenue Bonds Series A Insured: BAM | ||||||||||
5.000%, due 4/1/31 | 100,000 | 109,036 | ||||||||
Kentucky — 3.7% | ||||||||||
County of Knox KY, General Obligation Bonds Insured: BAM | ||||||||||
5.000%, due 10/1/35 | 500,000 | 548,160 | ||||||||
Kentucky Economic Development Finance Authority, Revenue Bonds Series A Insured: AGM | ||||||||||
4.000%, due 6/1/37 | 325,000 | 316,254 | ||||||||
Louisville & Jefferson County Visitors and Convention Commission, Revenue Bonds Insured: BAM | ||||||||||
4.000%, due 6/1/36 | 225,000 | 224,431 | ||||||||
1,088,845 | ||||||||||
Louisiana — 4.3% | ||||||||||
City of Monroe LA Water Revenue, Revenue Bonds Insured: BAM | ||||||||||
3.000%, due 11/1/19 | 310,000 | 312,449 | ||||||||
City of Shreveport LA Water & Sewer Revenue, Revenue Bonds Series C Insured: BAM | ||||||||||
5.000%, due 12/1/26 | 500,000 | 567,435 | ||||||||
Port New Orleans Board of Commissioners, Revenue Bonds Series B Insured: AGM | ||||||||||
5.000%, due 4/1/36 | 335,000 | 368,503 | ||||||||
1,248,387 | ||||||||||
Maine — 1.8% | ||||||||||
Finance Authority of Maine, Revenue Bonds Series A-1 Insured: AGC | ||||||||||
5.000%, due 12/1/25 | 155,000 | 169,059 | ||||||||
5.000%, due 12/1/26 | 160,000 | 175,110 | ||||||||
5.000%, due 12/1/27 | 175,000 | 191,840 | ||||||||
536,009 | ||||||||||
Massachusetts — 3.4% | ||||||||||
Massachusetts Development Finance Agency, Revenue Bonds Series A | ||||||||||
5.500%, due 11/15/36 | 500,000 | 500,665 | ||||||||
Massachusetts Development Finance Agency, Revenue Bonds Series U-6C | �� | |||||||||
1.580%, due 10/1/42(a) | 500,000 | 500,000 | ||||||||
1,000,665 | ||||||||||
Principal Amount | Value | |||||||||
Municipal Bonds (continued) | ||||||||||
Montana — 1.4% | ||||||||||
Montana Facility Finance Authority, Revenue Bonds | ||||||||||
5.000%, due 6/1/24 | $ | 375,000 | $ | 417,135 | ||||||
Nebraska — 1.7% | ||||||||||
Hospital Authority No. 1 of Lancaster County, Revenue Bonds Series B-1 | ||||||||||
1.680%, due 6/1/31(a) | 500,000 | 500,000 | ||||||||
New Jersey — 8.1% | ||||||||||
Mainland Regional High School District, General Obligation Bonds Insured: BAM | ||||||||||
5.000%, due 10/15/28 | 275,000 | 323,312 | ||||||||
New Jersey Economic Development Authority, Revenue Bonds Insured: NATL | ||||||||||
5.250%, due 7/1/26 | 500,000 | 560,490 | ||||||||
New Jersey Educational Facilities Authority, Revenue Bonds Series C Insured: AGM | ||||||||||
5.000%, due 7/1/25 | 515,000 | 584,427 | ||||||||
New Jersey Educational Facilities Authority, Revenue Bonds Series F | ||||||||||
5.000%, due 7/1/28 | 330,000 | 360,769 | ||||||||
South Jersey Port Corp., Revenue Bonds Series B | ||||||||||
5.000%, due 1/1/31 | 500,000 | 540,010 | ||||||||
2,369,008 | ||||||||||
New York — 9.4% | ||||||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, Revenue Bonds Series B-1 | ||||||||||
5.000%, due 8/1/34 | 1,000,000 | 1,121,740 | ||||||||
New York State Dormitory Authority, Revenue Bonds Series A | ||||||||||
5.000%, due 7/1/27 | 500,000 | 586,605 | ||||||||
New York State Housing Finance Agency, Revenue Bonds Series B | ||||||||||
1.690%, due 5/1/42(a) | 500,000 | 500,000 | ||||||||
Triborough Bridge & Tunnel Authority, Revenue Bonds Series B-2 | ||||||||||
1.620%, due 1/1/32(a) | 550,000 | 550,000 | ||||||||
2,758,345 | ||||||||||
Oklahoma — 1.9% | ||||||||||
Oklahoma County Finance Authority, Revenue Bonds | ||||||||||
5.000%, due 10/1/26 | 500,000 | 565,830 | ||||||||
Pennsylvania — 1.9% | ||||||||||
Coatesville Area School District Building Authority, Revenue Bonds Insured: BAM | ||||||||||
5.000%, due 12/1/21 | 310,000 | 331,216 | ||||||||
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds Series A Insured: XLCA | ||||||||||
2.205%, due 7/1/27(a) | 230,000 | 222,251 | ||||||||
553,467 |
See notes to financial statements.
Schedules of Investments — IQ MacKay Municipal Intermediate ETF (continued)
October 31, 2018 (unaudited)
Principal Amount | Value | |||||||||
Municipal Bonds (continued) | ||||||||||
Puerto Rico — 2.1% | �� | |||||||||
Commonwealth of Puerto Rico, General Obligation Bonds Series A Insured: AGM | ||||||||||
5.000%, due 7/1/35 | $ | 320,000 | $ | 337,824 | ||||||
Commonwealth of Puerto Rico, General Obligation Bonds Series A Insured: NATL | ||||||||||
5.500%, due 7/1/19 | 250,000 | 253,570 | ||||||||
Puerto Rico Electric Power Authority, Revenue Bonds Series PP Insured: NATL | ||||||||||
5.000%, due 7/1/24 | 25,000 | 25,108 | ||||||||
616,502 | ||||||||||
Texas — 1.8% | ||||||||||
Uptown Development Authority, Tax Allocation Series A | ||||||||||
5.000%, due 9/1/35 | 500,000 | 540,635 | ||||||||
Utah — 4.0% | ||||||||||
Utah Associated Municipal Power Systems, Revenue Bonds Series A | ||||||||||
5.000%, due 9/1/31 | 500,000 | 561,355 | ||||||||
Utah Infrastructure Agency, Revenue Bonds Series A | ||||||||||
5.000%, due 10/15/20 | 580,000 | 605,427 | ||||||||
1,166,782 | ||||||||||
Washington — 3.6% | ||||||||||
Spokane County School District No. 354 Mead, General Obligation Bonds Insured: SCH BD GTY | ||||||||||
5.000%, due 12/1/27 | 400,000 | 469,068 | ||||||||
Spokane Public Facilities District, Revenue Bonds | ||||||||||
5.000%, due 12/1/35 | 535,000 | 592,352 | ||||||||
1,061,420 | ||||||||||
Total Municipal Bonds (Cost $28,953,713) | 28,310,601 |
Shares | Value | |||||||||
Short-Term Investment — 6.7% | ||||||||||
Money Market Fund — 6.7% | ||||||||||
Fidelity Investments Money Market Treasury Only Class I, 2.05%(c) (Cost $1,959,592) | 1,959,592 | $ | 1,959,592 | |||||||
Total Investments — 103.1% (Cost $30,913,305) | 30,270,193 | |||||||||
Other Assets and Liabilities, Net — (3.1)% | (892,071 | ) | ||||||||
Net Assets — 100.0% | $ | 29,378,122 |
(a) | Variable rate securities that may be tendered back to the issuer at any time prior to maturity at par. Rate shown is the rate in effect as of October 31, 2018. |
(b) | The security was issued on a discount basis with no stated coupon rate. Rate shown reflects the effective yield. |
(c) | Reflects the 7-day yield at October 31, 2018. |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments in Securities:(d) | ||||||||||||||||||
Municipal Bonds | $ | — | $ | 28,310,601 | $ | — | $ | 28,310,601 | ||||||||||
Short-Term Investment: | ||||||||||||||||||
Money Market Fund | 1,959,592 | — | — | 1,959,592 | ||||||||||||||
Total Investments in Securities | $ | 1,959,592 | $ | 28,310,601 | $ | — | $ | 30,270,193 |
(d) | For a complete listing of investments and their states, see the Schedules of Investments. |
See notes to financial statements.
IQ MacKay Municipal Insured ETF | IQ MacKay Municipal Intermediate ETF | |||||||||
Assets | ||||||||||
Investments in securities, at value | $ | 15,730,655 | $ | 30,270,193 | ||||||
Interest receivable | 180,775 | 312,335 | ||||||||
Receivable for investments sold | 55,516 | — | ||||||||
Dividend receivable | 2,214 | 2,698 | ||||||||
Prepaid expenses | — | 912 | ||||||||
Due from advisor | 775 | — | ||||||||
Total assets | 15,969,935 | 30,586,138 | ||||||||
Liabilities | ||||||||||
Payable for investments purchased | 60,691 | 1,186,733 | ||||||||
Trustee fees payable | 92 | 166 | ||||||||
Advisory fees payable | — | 1,180 | ||||||||
Accrued expenses and other liabilities | 21,180 | 19,937 | ||||||||
Total liabilities | 81,963 | 1,208,016 | ||||||||
Net assets | $ | 15,887,972 | $ | 29,378,122 | ||||||
Composition of Net Assets | ||||||||||
Paid-in capital | $ | 16,243,336 | $ | 30,011,675 | ||||||
Total distributable earnings (accumulated loss)(a) | (355,364 | ) | (633,553 | ) | ||||||
Net assets | $ | 15,887,972 | $ | 29,378,122 | ||||||
NET ASSET VALUE PER SHARE | ||||||||||
Shares Outstanding (no par value, unlimited shares authorized) | 650,001 | 1,200,001 | ||||||||
Net Asset Value Per Share | $ | 24.44 | $ | 24.48 | ||||||
Investments, at cost | $ | 16,099,675 | $ | 30,913,305 |
(a) | Effective October 31, 2018, the Funds have adopted disclosure requirements conforming to SEC Rule 6-04.17 of Regulation S-X in which the SEC eliminated the requirement to disclose undistributed/(overdistributed) net investment income. (See Note 2) |
See notes to financial statements.
IQ MacKay Municipal Insured ETF | IQ MacKay Municipal Intermediate ETF | |||||||||
Investment Income | ||||||||||
Interest income | $ | 254,143 | $ | 432,991 | ||||||
Dividend income | 11,105 | 16,285 | ||||||||
Total investment income | 265,248 | 449,276 | ||||||||
Expenses | ||||||||||
Advisory fees (see Note 3) | 32,103 | 59,834 | ||||||||
Audit fees | 8,571 | 8,571 | ||||||||
Intraday pricing fees | 6,396 | 6,396 | ||||||||
Shareholder reporting fees | 4,479 | 5,388 | ||||||||
Listing fees | 3,901 | 3,901 | ||||||||
Administrative and accounting fees | 2,538 | 5,367 | ||||||||
Custodian fees | 2,511 | 5,270 | ||||||||
Legal fees | 2,467 | 2,565 | ||||||||
Trustee fees | 415 | 770 | ||||||||
Compliance fees | 24 | 48 | ||||||||
Miscellaneous | 31 | 42 | ||||||||
Total expenses | 63,436 | 98,152 | ||||||||
Waivers (see Note 3) | (39,358 | ) | (53,277 | ) | ||||||
Net expenses | 24,078 | 44,875 | ||||||||
Net investment income | 241,170 | 404,401 | ||||||||
Realized and Unrealized Gain (Loss) on Investments | ||||||||||
Net realized gain (loss) from: | ||||||||||
Investment securities | (15,326 | ) | (19,953 | ) | ||||||
Net realized gain (loss) | (15,326 | ) | (19,953 | ) | ||||||
Net change in net unrealized appreciation (depreciation) on: | ||||||||||
Investment securities | (138,654 | ) | (218,170 | ) | ||||||
Net change in net unrealized appreciation (depreciation) | (138,654 | ) | (218,170 | ) | ||||||
Net realized and unrealized gain (loss) | (153,980 | ) | (238,123 | ) | ||||||
Net Increase (Decrease) in Net Assets Resulting From Operations | $ | 87,190 | $ | 166,278 |
See notes to financial statements.
IQ MacKay Municipal Insured ETF | IQ MacKay Municipal Intermediate ETF | ||||||||||||||||||
For the Six Months Ended October 31, 2018 (unaudited) | For the Period October 18, 2017* to April 30, 2018 | For the Six Months Ended October 31, 2018 (unaudited) | For the Period October 18, 2017* to April 30, 2018 | ||||||||||||||||
Increase (Decrease) in Net Assets from Operations | |||||||||||||||||||
Net investment income | $ | 241,170 | $ | 215,331 | $ | 404,401 | $ | 356,392 | |||||||||||
Net realized gain (loss) | (15,326 | ) | (13,771 | ) | (19,953 | ) | (44,053 | ) | |||||||||||
Net change in net unrealized appreciation (depreciation) | (138,654 | ) | (230,366 | ) | (218,170 | ) | (424,942 | ) | |||||||||||
Net increase (decrease) in net assets resulting from operations | 87,190 | (28,806 | ) | 166,278 | (112,603 | ) | |||||||||||||
Distributions to Shareholders | (234,162 | ) | (179,586 | ) | (394,308 | ) | (292,920 | ) | |||||||||||
Capital Share Transactions | |||||||||||||||||||
Proceeds from shares created | 1,233,815 | 15,009,521 | — | 30,011,675 | |||||||||||||||
Increase from capital share transactions | 1,233,815 | 15,009,521 | — | 30,011,675 | |||||||||||||||
Total increase (decrease) in net assets | 1,086,843 | 14,801,129 | (228,030 | ) | 29,606,152 | ||||||||||||||
Net Assets | |||||||||||||||||||
Beginning of period | 14,801,129 | — | 29,606,152 | — | |||||||||||||||
End of period** | $ | 15,887,972 | $ | 14,801,129 | $ | 29,378,122 | $ | 29,606,152 | |||||||||||
Changes in Shares Outstanding | |||||||||||||||||||
Shares outstanding, beginning of period | 600,001 | — | 1,200,001 | — | |||||||||||||||
Shares created | 50,000 | 600,001 | — | 1,200,001 | |||||||||||||||
Shares outstanding, end of period | 650,001 | 600,001 | 1,200,001 | 1,200,001 |
* | Commencement of operations. |
** | End of period assets included undistributed net investment income of $35,745 and $63,472 respectively at April 30, 2018. |
See notes to financial statements.
Financial Highlights
Selected Data for a Share of Capital Stock Outstanding
IQ MacKay Municipal Insured ETF | ||||||||||
For the Six Months Ended October 31, 2018 (unaudited) | For the Period October 18, 2017(a) to April 30, 2018 | |||||||||
Net asset value, beginning of period | $ | 24.67 | $ | 25.00 | ||||||
Income from Investment Operations | ||||||||||
Net investment income(b) | 0.37 | 0.36 | ||||||||
Net realized and unrealized gain (loss) | (0.24 | ) | (0.39 | ) | ||||||
Net increase (decrease) in net assets resulting from investment operations | 0.13 | (0.03 | ) | |||||||
Distributions from: | ||||||||||
Net investment income | (0.36 | ) | (0.30 | )�� | ||||||
Net asset value, end of period | $ | 24.44 | $ | 24.67 | ||||||
Market price, end of period | $ | 24.51 | $ | 24.86 | ||||||
Total Return | ||||||||||
Total investment return based on net asset value(c) | 0.56 | % | (0.13 | )% | ||||||
Total investment return based on Market price(d)(e) | 0.06 | % | 0.64 | % | ||||||
Ratios/Supplemental Data | ||||||||||
Net assets, end of period (000’s omitted) | $ | 15,888 | $ | 14,801 | ||||||
Ratio to average net assets of: | ||||||||||
Expenses net of waivers | 0.30 | % | 0.30 | %(f) | ||||||
Expenses excluding waivers | 0.79 | % | 0.99 | %(f) | ||||||
Net investment income (loss) | 3.00 | % | 2.74 | %(f) | ||||||
Portfolio turnover rate(g) | 18 | % | 77 | % |
See notes to financial statements.
Financial Highlights (continued)
Selected Data for a Share of Capital Stock Outstanding
IQ MacKay Municipal Intermediate ETF | ||||||||||
For the Six Months Ended October 31, 2018 (unaudited) | For the Period October 18, 2017(a) to April 30, 2018 | |||||||||
Net asset value, beginning of period | $ | 24.67 | $ | 25.00 | ||||||
Income from Investment Operations | ||||||||||
Net investment income(b) | 0.34 | 0.30 | ||||||||
Net realized and unrealized gain (loss) | (0.20 | ) | (0.39 | ) | ||||||
Net increase (decrease) in net assets resulting from investment operations | 0.14 | (0.09 | ) | |||||||
Distributions from: | ||||||||||
Net investment income | (0.33 | ) | (0.24 | ) | ||||||
Net asset value, end of period | $ | 24.48 | $ | 24.67 | ||||||
Market price, end of period | $ | 24.55 | $ | 24.71 | ||||||
Total Return | ||||||||||
Total investment return based on net asset value(c) | 0.56 | % | (0.34 | )% | ||||||
Total investment return based on Market price(d)(e) | 0.68 | % | (0.18 | )% | ||||||
Ratios/Supplemental Data | ||||||||||
Net assets, end of period (000’s omitted) | $ | 29,378 | $ | 29,606 | ||||||
Ratio to average net assets of: | ||||||||||
Expenses net of waivers | 0.30 | % | 0.30 | %(f) | ||||||
Expenses excluding waivers | 0.66 | % | 0.77 | %(f) | ||||||
Net investment income (loss) | 2.70 | % | 2.28 | %(f) | ||||||
Portfolio turnover rate(g) | 22 | % | 80 | % |
(a) | Commencement of operations. |
(b) | Based on average shares outstanding. |
(c) | Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions, if any, at net asset value during the period, and redemption on the last day of the period. Total return calculated for a period less than one year is not annualized. |
(d) | The market price returns are calculated using the mean between the last bid and ask prices. |
(e) | Since the Shares of the Funds did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of the secondary market trading, the NAV is used as a proxy for the secondary market trading price to calculate the market returns. |
(f) | 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.
Notes to Financial Statements
October 31, 2018 (unaudited)
Notes to Financial Statements (continued)
October 31, 2018 (unaudited)
decimal places. The consideration for purchase of a Creation Unit of shares of each Fund can consist of cash, however, the Funds reserve the rights to permit in-kind deposit of a designated portfolio of securities along with a specified cash payment.
• | Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities that the Funds have the ability to access. |
• | Level 2 — Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. |
• | Level 3 — Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Funds’ own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. |
Notes to Financial Statements (continued)
October 31, 2018 (unaudited)
Notes to Financial Statements (continued)
October 31, 2018 (unaudited)
Fund | Rate | |||
IQ MacKay Municipal Insured ETF | 0.40% | |||
IQ MacKay Municipal Intermediate ETF | 0.40% |
Notes to Financial Statements (continued)
October 31, 2018 (unaudited)
Notes to Financial Statements (continued)
October 31, 2018 (unaudited)
Fund | Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation/ (Depreciation) | ||||||||||||||
IQ MacKay Municipal Insured ETF | $ | 16,099,675 | $ | 25,620 | $ | (394,640 | ) | $ | (369,020 | ) | ||||||||
IQ MacKay Municipal Intermediate ETF | 30,913,305 | 27,852 | (670,964 | ) | (643,112 | ) |
Fund | Ordinary Income (Loss)1 | Tax-Exempt Income (Loss) | Net Capital Gain (Losses)2 | Net Unrealized Appreciation/ (Depreciation) | Total Earnings/ (Losses) | |||||||||||||||||
IQ MacKay Municipal Insured ETF | $ | 4,150 | $ | 34,156 | $ | (16,332 | ) | $ | (230,366 | ) | $ | (208,392 | ) | |||||||||
IQ MacKay Municipal Intermediate ETF | 5,679 | 57,793 | (44,053 | ) | (424,942 | ) | (405,523 | ) |
1 | Includes late year ordinary loss, if any. |
2 | Amount includes the deferral of post October losses, if any. |
2018 | |||||||||||||||||||
Fund | Ordinary Income | Tax-Exempt Income | Long-Term Capital Gains | Tax Return of Capital | |||||||||||||||
IQ MacKay Municipal Insured ETF | $ | 2,076 | $ | 177,510 | $ | — | $ | — | |||||||||||
IQ MacKay Municipal Intermediate ETF | 7,047 | 285,873 | — | — |
Fund | Late Year Ordinary Losses | Short-Term Post October Losses | Long-Term Post October Losses | |||||||||||
IQ MacKay Municipal Insured ETF | $ | — | $ | 16,332 | $ | — | ||||||||
IQ MacKay Municipal Intermediate ETF | — | — | — |
Fund | Utilized on Current Year | Short-Term With No Expiration | Long-Term With No Expiration | |||||||||||
IQ MacKay Municipal Insured ETF | $ | — | $ | — | $ | — | ||||||||
IQ MacKay Municipal Intermediate ETF | — | 44,053 | — |
Notes to Financial Statements (continued)
October 31, 2018 (unaudited)
Fund | % Ownership | |||||
IQ MacKay Municipal Insured ETF | 92.1 | % | ||||
IQ MacKay Municipal Intermediate ETF | 99.9 | % |
Fund | Purchases | Sales | ||||||||
IQ MacKay Municipal Insured ETF | $ | 4,288,001 | $ | 2,503,011 | ||||||
IQ MacKay Municipal Intermediate ETF | 10,382,780 | 5,899,434 |
Notes to Financial Statements (continued)
October 31, 2018 (unaudited)
Notes to Financial Statements (continued)
October 31, 2018 (unaudited)
IndexIQ Active ETF Trust SEMI-ANNUAL REPORT|OCTOBER 31, 2018 IQ MacKay Municipal Insured ETF (MMIN) IQ MacKay Municipal Intermediate ETF (MMIT) Investment Advisor IndexIQ Advisors LLC 51 Madison Avenue New York, NY10010 Distributor ALPS Distributors, Inc. 1290 Broadway, Suite 1100 Denver, CO80203 Custodian/Fund Administrator/Transfer Agent The Bank of New York Mellon 240 Greenwich Street New York, NY10286 Legal Counsel Chapman and Cutler, LLP 1270 Avenue of the Americas New York, New York 10020 Independent Registered Public Accounting Firm PricewaterhouseCoopers LLP 300 Madison Avenue New York, NY10017 \758022 ME10a-12/18
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 registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
[Note that until the date that the registrant has filed its first report on Form N-PORT (17 CFR 270.150), the registrant’s disclosures required by this Item are limited to any change in the registrant’s internal control over financial reporting that occurred during the registrant’s last fiscal quarter that has materially affected or is reasonably likely to materially affect the registrant’s internal control over financial reporting.]
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable. |
Item 13. Exhibits.
(a)(1) 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. |
[Note that until the date that the registrant has filed its first report on Form N-PORT (17 CFR 270.150), in the certification required by Item 13(a)(2), the registrant’s certifying officers must certify that they have disclosed in the report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect the registrant’s internal control over financial reporting.]
(a)(3) Not applicable.
(a)(4) Not applicable.
(b) | Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) | IndexIQ Active ETF Trust |
By (Signature and Title)* | /s/ Kirk C. Lehneis |
Kirk C. Lehneis | |
(Principal Executive Officer) |
Date | 1/7/2019 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)* | /s/ Kirk C. Lehneis |
Kirk C. Lehneis | |
(Principal Executive Officer) |
Date | 1/7/2019 |
By (Signature and Title)* | /s/ Adefolahan O. Oyefeso |
Adefolahan O. Oyefeso | |
(Principal Financial Officer) |
Date | 1/7/2019 |
* Print the name and title of each signing officer under his or her signature.