Schedule of Investments — IQ MacKay ESG High Income ETF
January 31, 2023 (unaudited)
| Principal Amount | Value | |||||||
| Long - Term Bonds 97.3% | ||||||||
| Corporate Bonds — 81.9% | ||||||||
| Advertising — 1.5% | ||||||||
| Clear Channel Outdoor Holdings, Inc. | ||||||||
| 5.125%, due 8/15/27 | $ | 200,000 | $ | 181,393 | ||||
| Lamar Media Corp. | ||||||||
| 4.000%, due 2/15/30 | 107,000 | 95,230 | ||||||
| Outfront Media Capital LLC / Outfront Media Capital Corp. | ||||||||
| 4.250%, due 1/15/29 | 122,000 | 104,876 | ||||||
| 381,499 | ||||||||
| Aerospace & Defense — 1.8% | ||||||||
| Howmet Aerospace, Inc. | ||||||||
| 5.900%, due 2/1/27 | 209,000 | 212,657 | ||||||
| TransDigm, Inc. | ||||||||
| 4.625%, due 1/15/29 | 82,000 | 73,977 | ||||||
| 4.875%, due 5/1/29 | 106,000 | 95,644 | ||||||
| 6.250%, due 3/15/26 | 90,000 | 89,968 | ||||||
| 472,246 | ||||||||
| Agriculture — 1.0% | ||||||||
| Darling Ingredients, Inc. | ||||||||
| 5.250%, due 4/15/27 | 267,000 | 260,392 | ||||||
| Airlines — 1.3% | ||||||||
| Delta Air Lines, Inc. | ||||||||
| 4.375%, due 4/19/28 | 75,000 | 69,697 | ||||||
| 7.375%, due 1/15/26 | 62,000 | 64,532 | ||||||
| United Airlines, Inc. | ||||||||
| 4.375%, due 4/15/26 | 97,000 | 92,085 | ||||||
| 4.625%, due 4/15/29 | 115,000 | 104,893 | ||||||
| 331,207 | ||||||||
| Apparel — 1.5% | ||||||||
| Hanesbrands, Inc. | ||||||||
| 4.625%, due 5/15/24 | 200,000 | 196,514 | ||||||
| 4.875%, due 5/15/26 | 200,000 | 186,250 | ||||||
| 382,764 | ||||||||
| Auto Manufacturers — 1.8% | ||||||||
| Ford Motor Co. | ||||||||
| 3.250%, due 2/12/32 | 145,000 | 115,082 | ||||||
| Ford Motor Credit Co. LLC | ||||||||
| 3.815%, due 11/2/27 | 128,000 | 115,520 | ||||||
| 4.000%, due 11/13/30 | 136,000 | 118,747 | ||||||
| 4.950%, due 5/28/27 | 132,000 | 125,963 | ||||||
| 475,312 | ||||||||
| Auto Parts & Equipment — 1.6% | ||||||||
| Clarios Global LP / Clarios US Finance Co. | ||||||||
| 6.250%, due 5/15/26 | 250,000 | 248,350 | ||||||
| Goodyear Tire & Rubber Co. (The) | ||||||||
| 5.000%, due 7/15/29 | 200,000 | 176,186 | ||||||
| 424,536 | ||||||||
| Building Materials — 1.5% | ||||||||
| CP Atlas Buyer, Inc. | ||||||||
| 7.000%, due 12/1/28 | 281,000 | 217,072 | ||||||
| Standard Industries, Inc. | ||||||||
| 4.375%, due 7/15/30 | 200,000 | 170,974 | ||||||
| 388,046 | ||||||||
| Chemicals — 1.7% | ||||||||
| Avient Corp. | ||||||||
| 7.125%, due 8/1/30 | 112,000 | 112,834 | ||||||
| Olin Corp. | ||||||||
| 5.000%, due 2/1/30 | 104,000 | 98,301 | ||||||
| 5.625%, due 8/1/29 | 95,000 | 92,448 | ||||||
| Olympus Water US Holding Corp. | ||||||||
| 4.250%, due 10/1/28 | 171,000 | 143,437 | ||||||
| Rain CII Carbon LLC / CII Carbon Corp. | ||||||||
| 7.250%, due 4/1/25 | 10,000 | 9,403 | ||||||
| 456,423 | ||||||||
| Commercial Services — 6.4% | ||||||||
| ADT Security Corp. (The) | ||||||||
| 4.125%, due 8/1/29 | 99,000 | 88,135 | ||||||
| Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl | ||||||||
| 4.625%, due 6/1/28 | 200,000 | 171,766 | ||||||
| AMN Healthcare, Inc. | ||||||||
| 4.000%, due 4/15/29 | 79,000 | 68,527 | ||||||
| Avis Budget Car Rental LLC / Avis Budget Finance, Inc. | ||||||||
| 5.375%, due 3/1/29 | 100,000 | 89,400 | ||||||
| Brink's Co. (The) | ||||||||
| 4.625%, due 10/15/27 | 71,000 | 66,242 | ||||||
| Carriage Services, Inc. | ||||||||
| 4.250%, due 5/15/29 | 200,000 | 164,550 | ||||||
| Gartner, Inc. | ||||||||
| 4.500%, due 7/1/28 | 120,000 | 113,999 | ||||||
| HealthEquity, Inc. | ||||||||
| 4.500%, due 10/1/29 | 79,000 | 70,729 | ||||||
| Herc Holdings, Inc. | ||||||||
| 5.500%, due 7/15/27 | 76,000 | 72,770 | ||||||
| Hertz Corp. (The) | ||||||||
| 4.625%, due 12/1/26 | 116,000 | 103,240 | ||||||
| 5.000%, due 12/1/29 | 134,000 | 109,545 | ||||||
| Prime Security Services Borrower LLC / Prime Finance, Inc. | ||||||||
| 3.375%, due 8/31/27 | 160,000 | 141,976 | ||||||
| Service Corp. International | ||||||||
| 3.375%, due 8/15/30 | 124,000 | 104,202 | ||||||
| United Rentals North America, Inc. | ||||||||
| 5.500%, due 5/15/27 | 251,000 | 249,431 | ||||||
| Williams Scotsman International, Inc. | ||||||||
| 4.625%, due 8/15/28 | 72,000 | 66,712 | ||||||
| 1,681,224 | ||||||||
| Computers — 2.2% | ||||||||
| NCR Corp. | ||||||||
| 5.125%, due 4/15/29 | 200,000 | 174,211 | ||||||
| Seagate HDD Cayman | ||||||||
| 4.091%, due 6/1/29 | 177,000 | 156,871 | ||||||
| Tempo Acquisition LLC / Tempo Acquisition Finance Corp. | ||||||||
| 5.750%, due 6/1/25 | 248,000 | 250,356 | ||||||
| 581,438 | ||||||||
| Diversified Financial Services — 2.9% | ||||||||
| Nationstar Mortgage Holdings, Inc. | ||||||||
| 5.500%, due 8/15/28 | 262,000 | 228,912 | ||||||
| 5.750%, due 11/15/31 | 128,000 | 103,040 | ||||||
| OneMain Finance Corp. | ||||||||
| 6.625%, due 1/15/28 | 221,000 | 215,314 | ||||||
| PennyMac Financial Services, Inc. | ||||||||
| 4.250%, due 2/15/29 | 140,000 | 115,058 | ||||||
| Rocket Mortgage LLC / Rocket Mortgage Co.-Issuer, Inc. | ||||||||
| 3.625%, due 3/1/29 | 137,000 | 115,586 | ||||||
| 777,910 | ||||||||
| Electric — 1.1% | ||||||||
| Calpine Corp. | ||||||||
| 4.500%, due 2/15/28 | 141,000 | 130,109 | ||||||
Schedule of Investments — IQ MacKay ESG High Income ETF (continued)
January 31, 2023 (unaudited)
| Principal Amount | Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Electric (continued) | ||||||||
| Vistra Corp. | ||||||||
| 8.000%, (5 Year US CMT T-Note + 6.93%), due 4/15/71(a) | $ | 150,000 | $ | 147,038 | ||||
| 277,147 | ||||||||
| Electrical Component & Equipment — 0.4% | ||||||||
| Energizer Holdings, Inc. | ||||||||
| 4.750%, due 6/15/28 | 129,000 | 115,455 | ||||||
| Entertainment — 2.3% | ||||||||
| Caesars Entertainment, Inc. | ||||||||
| 4.625%, due 10/15/29 | 171,000 | 146,205 | ||||||
| CDI Escrow Issuer, Inc. | ||||||||
| 5.750%, due 4/1/30 | 126,000 | 119,385 | ||||||
| Churchill Downs, Inc. | ||||||||
| 4.750%, due 1/15/28 | 138,000 | 129,121 | ||||||
| Scientific Games Holdings LP/Scientific Games US FinCo, Inc. | ||||||||
| 6.625%, due 3/1/30 | 120,000 | 106,893 | ||||||
| Wynn Resorts Finance LLC / Wynn Resorts Capital Corp. | ||||||||
| 5.125%, due 10/1/29 | 102,000 | 91,035 | ||||||
| 592,639 | ||||||||
| Food — 3.0% | ||||||||
| Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC | ||||||||
| 4.625%, due 1/15/27 | 213,000 | 201,935 | ||||||
| B&G Foods, Inc. | ||||||||
| 5.250%, due 9/15/27 | 218,000 | 176,307 | ||||||
| Performance Food Group, Inc. | ||||||||
| 4.250%, due 8/1/29 | 120,000 | 107,070 | ||||||
| Post Holdings, Inc. | ||||||||
| 4.625%, due 4/15/30 | 133,000 | 117,040 | ||||||
| 5.500%, due 12/15/29 | 81,000 | 75,117 | ||||||
| US Foods, Inc. | ||||||||
| 4.625%, due 6/1/30 | 108,000 | 96,682 | ||||||
| 774,151 | ||||||||
| Food Service — 0.5% | ||||||||
| Aramark Services, Inc. | ||||||||
| 5.000%, due 2/1/28 | 151,000 | 142,317 | ||||||
| Healthcare-Products — 1.1% | ||||||||
| Hologic, Inc. | ||||||||
| 4.625%, due 2/1/28 | 167,000 | 159,144 | ||||||
| Teleflex, Inc. | ||||||||
| 4.625%, due 11/15/27 | 135,000 | 128,886 | ||||||
| 288,030 | ||||||||
| Healthcare-Services — 4.7% | ||||||||
| Centene Corp. | ||||||||
| 2.450%, due 7/15/28 | 125,000 | 108,281 | ||||||
| 2.500%, due 3/1/31 | 94,000 | 76,847 | ||||||
| 4.250%, due 12/15/27 | 163,000 | 156,361 | ||||||
| 4.625%, due 12/15/29 | 124,000 | 117,807 | ||||||
| Encompass Health Corp. | ||||||||
| 4.750%, due 2/1/30 | 76,000 | 69,666 | ||||||
| 5.750%, due 9/15/25 | 219,000 | 217,358 | ||||||
| IQVIA, Inc. | ||||||||
| 5.000%, due 5/15/27 | 96,000 | 93,159 | ||||||
| Tenet Healthcare Corp. | ||||||||
| 4.250%, due 6/1/29 | 127,000 | 113,081 | ||||||
| 4.625%, due 6/15/28 | 149,000 | 138,183 | ||||||
| 6.125%, due 6/15/30 | 131,000 | 127,163 | ||||||
| 1,217,906 | ||||||||
| Home Builders — 1.0% | ||||||||
| Beazer Homes USA, Inc. | ||||||||
| 7.250%, due 10/15/29 | 92,000 | 84,985 | ||||||
| Meritage Homes Corp. | ||||||||
| 3.875%, due 4/15/29 | 86,000 | 76,218 | ||||||
| Thor Industries, Inc. | ||||||||
| 4.000%, due 10/15/29 | 47,000 | 39,081 | ||||||
| Tri Pointe Homes, Inc. | ||||||||
| 5.700%, due 6/15/28 | 79,000 | 74,116 | ||||||
| 274,400 | ||||||||
| Housewares — 0.9% | ||||||||
| CD&R Smokey Buyer, Inc. | ||||||||
| 6.750%, due 7/15/25 | 250,000 | 226,875 | ||||||
| Insurance — 0.3% | ||||||||
| Global Atlantic Fin Co. | ||||||||
| 4.700%, (5 Year US CMT T-Note + 3.80%), due 10/15/51(a) | 96,000 | 82,644 | ||||||
| Internet — 1.9% | ||||||||
| Arches Buyer, Inc. | ||||||||
| 6.125%, due 12/1/28 | 200,000 | 168,452 | ||||||
| Cogent Communications Group, Inc. | ||||||||
| 3.500%, due 5/1/26 | 85,000 | 78,698 | ||||||
| Match Group Holdings II LLC | ||||||||
| 4.125%, due 8/1/30 | 120,000 | 103,200 | ||||||
| Uber Technologies, Inc. | ||||||||
| 4.500%, due 8/15/29 | 158,000 | 140,669 | ||||||
| 491,019 | ||||||||
| Leisure Time — 0.1% | ||||||||
| NCL Corp. Ltd. | ||||||||
| 8.375%, due 2/1/28 | 35,000 | 35,481 | ||||||
| Machinery-Diversified — 0.1% | ||||||||
| Chart Industries, Inc. | ||||||||
| 7.500%, due 1/1/30 | 24,000 | 24,540 | ||||||
| Media — 6.9% | ||||||||
| Cable One, Inc. | ||||||||
| 4.000%, due 11/15/30 | 96,000 | 79,155 | ||||||
| CCO Holdings LLC / CCO Holdings Capital Corp. | ||||||||
| 4.250%, due 2/1/31 | 119,000 | 99,133 | ||||||
| 4.250%, due 1/15/34 | 121,000 | 94,326 | ||||||
| 4.500%, due 8/15/30 | 96,000 | 82,028 | ||||||
| 4.500%, due 5/1/32 | 155,000 | 128,262 | ||||||
| 4.750%, due 3/1/30 | 133,000 | 116,214 | ||||||
| 6.375%, due 9/1/29 | 65,000 | 62,725 | ||||||
| Directv Financing LLC / Directv Financing Co-Obligor, Inc. | ||||||||
| 5.875%, due 8/15/27 | 197,000 | 178,444 | ||||||
| iHeartCommunications, Inc. | ||||||||
| 8.375%, due 5/1/27 | 261,000 | 233,921 | ||||||
| Nexstar Media, Inc. | ||||||||
| 4.750%, due 11/1/28 | 131,000 | 118,251 | ||||||
| Sirius XM Radio, Inc. | ||||||||
| 3.875%, due 9/1/31 | 84,000 | 69,248 | ||||||
| 4.000%, due 7/15/28 | 107,000 | 95,241 | ||||||
| 4.125%, due 7/1/30 | 90,000 | 77,187 | ||||||
| TEGNA, Inc. | ||||||||
| 4.750%, due 3/15/26 | 262,000 | 254,020 | ||||||
| Univision Communications, Inc. | ||||||||
| 4.500%, due 5/1/29 | 139,000 | 119,598 | ||||||
| 1,807,753 | ||||||||
Schedule of Investments — IQ MacKay ESG High Income ETF (continued)
January 31, 2023 (unaudited)
| Principal Amount | Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Mining — 0.9% | ||||||||
| Novelis Corp. | ||||||||
| 3.250%, due 11/15/26 | $ | 102,000 | $ | 92,343 | ||||
| 4.750%, due 1/30/30 | 163,000 | 147,515 | ||||||
| 239,858 | ||||||||
| Miscellaneous Manufacturing — 0.3% | ||||||||
| Gates Global LLC / Gates Corp. | ||||||||
| 6.250%, due 1/15/26 | 75,000 | 73,863 | ||||||
| Office/Business Equipment — 1.1% | ||||||||
| Xerox Corp. | ||||||||
| 3.800%, due 5/15/24 | 139,000 | 134,830 | ||||||
| Xerox Holdings Corp. | ||||||||
| 5.500%, due 8/15/28 | 177,000 | 150,118 | ||||||
| 284,948 | ||||||||
| Oil & Gas — 7.8% | ||||||||
| Ascent Resources Utica Holdings LLC / ARU Finance Corp. | ||||||||
| 9.000%, due 11/1/27 | 201,000 | 247,732 | ||||||
| Callon Petroleum Co. | ||||||||
| 6.375%, due 7/1/26 | 87,000 | 83,794 | ||||||
| 7.500%, due 6/15/30 | 103,000 | 99,652 | ||||||
| 8.000%, due 8/1/28 | 81,000 | 80,956 | ||||||
| CNX Resources Corp. | ||||||||
| 6.000%, due 1/15/29 | 88,000 | 80,782 | ||||||
| Occidental Petroleum Corp. | ||||||||
| 2.900%, due 8/15/24 | 272,000 | 260,729 | ||||||
| 5.550%, due 3/15/26 | 110,000 | 111,106 | ||||||
| 7.500%, due 5/1/31 | 81,000 | 90,113 | ||||||
| 8.875%, due 7/15/30 | 112,000 | 131,880 | ||||||
| Range Resources Corp. | ||||||||
| 4.750%, due 2/15/30 | 76,000 | 68,077 | ||||||
| Rockcliff Energy II LLC | ||||||||
| 5.500%, due 10/15/29 | 89,000 | 84,660 | ||||||
| Southwestern Energy Co. | ||||||||
| 5.375%, due 3/15/30 | 114,000 | 106,163 | ||||||
| 7.750%, due 10/1/27 | 195,000 | 203,362 | ||||||
| Sunoco LP / Sunoco Finance Corp. | ||||||||
| 5.875%, due 3/15/28 | 117,000 | 114,660 | ||||||
| Tap Rock Resources LLC | ||||||||
| 7.000%, due 10/1/26 | 76,000 | 71,934 | ||||||
| Transocean Titan Financing Ltd. | ||||||||
| 8.375%, due 2/1/28 | 20,000 | 20,754 | ||||||
| Vital Energy, Inc. | ||||||||
| 7.750%, due 7/31/29 | 126,000 | 116,197 | ||||||
| 10.125%, due 1/15/28 | 67,000 | 66,670 | ||||||
| 2,039,221 | ||||||||
| Oil & Gas Services — 2.0% | ||||||||
| Archrock Partners LP / Archrock Partners Finance Corp. | ||||||||
| 6.250%, due 4/1/28 | 127,000 | 120,650 | ||||||
| 6.875%, due 4/1/27 | 127,000 | 124,460 | ||||||
| USA Compression Partners LP / USA Compression Finance Corp. | ||||||||
| 6.875%, due 4/1/26 | 112,000 | 109,922 | ||||||
| 6.875%, due 9/1/27 | 163,000 | 158,110 | ||||||
| 513,142 | ||||||||
| Packaging & Containers — 2.2% | ||||||||
| Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. | ||||||||
| 4.125%, due 8/15/26 | 95,000 | 86,687 | ||||||
| 5.250%, due 8/15/27 | 200,000 | 163,777 | ||||||
| Ball Corp. | ||||||||
| 6.875%, due 3/15/28 | 97,000 | 100,041 | ||||||
| Owens-Brockway Glass Container, Inc. | ||||||||
| 6.375%, due 8/15/25 | 200,000 | 196,050 | ||||||
| Sealed Air Corp. | ||||||||
| 6.125%, due 2/1/28 | 25,000 | 25,223 | ||||||
| 571,778 | ||||||||
| Pharmaceuticals — 1.5% | ||||||||
| Elanco Animal Health, Inc. | ||||||||
| 6.400%, due 8/28/28 | 133,000 | 129,835 | ||||||
| PRA Health Sciences, Inc. | ||||||||
| 2.875%, due 7/15/26 | 284,000 | 259,908 | ||||||
| 389,743 | ||||||||
| Pipelines — 3.6% | ||||||||
| Cheniere Energy Partners LP | ||||||||
| 4.500%, due 10/1/29 | 140,000 | 131,337 | ||||||
| Cheniere Energy, Inc. | ||||||||
| 4.625%, due 10/15/28 | 87,000 | 82,837 | ||||||
| CNX Midstream Partners LP | ||||||||
| 4.750%, due 4/15/30 | 120,000 | 101,536 | ||||||
| EnLink Midstream LLC | ||||||||
| 5.625%, due 1/15/28 | 90,000 | 87,975 | ||||||
| Genesis Energy LP / Genesis Energy Finance Corp. | ||||||||
| 7.750%, due 2/1/28 | 291,000 | 281,217 | ||||||
| Venture Global Calcasieu Pass LLC | ||||||||
| 3.875%, due 8/15/29 | 137,000 | 121,930 | ||||||
| 6.250%, due 1/15/30 | 60,000 | 61,127 | ||||||
| Western Midstream Operating LP | ||||||||
| 4.750%, due 8/15/28 | 90,000 | 84,825 | ||||||
| 952,784 | ||||||||
| REITS — 2.1% | ||||||||
| Iron Mountain Information Management Services, Inc. | ||||||||
| 5.000%, due 7/15/32 | 79,000 | 68,493 | ||||||
| Iron Mountain, Inc. | ||||||||
| 4.500%, due 2/15/31 | 88,000 | 75,406 | ||||||
| 5.250%, due 7/15/30 | 110,000 | 99,543 | ||||||
| Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | ||||||||
| 4.875%, due 5/15/29 | 107,000 | 92,502 | ||||||
| SBA Communications Corp. | ||||||||
| 3.125%, due 2/1/29 | 124,000 | 105,051 | ||||||
| VICI Properties LP / VICI Note Co., Inc. | ||||||||
| 4.250%, due 12/1/26 | 40,000 | 37,750 | ||||||
| XHR LP | ||||||||
| 4.875%, due 6/1/29 | 84,000 | 74,550 | ||||||
| 553,295 | ||||||||
| Retail — 5.7% | ||||||||
| Asbury Automotive Group, Inc. | ||||||||
| 4.750%, due 3/1/30 | 126,000 | 110,219 | ||||||
| Bath & Body Works, Inc. | ||||||||
| 6.950%, due 3/1/33 | 300,000 | 268,293 | ||||||
| Foot Locker, Inc. | ||||||||
| 4.000%, due 10/1/29 | 112,000 | 94,694 | ||||||
| Group 1 Automotive, Inc. | ||||||||
| 4.000%, due 8/15/28 | 122,000 | 107,294 | ||||||
| Lithia Motors, Inc. | ||||||||
| 4.375%, due 1/15/31 | 124,000 | 105,574 | ||||||
| Macy's Retail Holdings LLC | ||||||||
| 6.125%, due 3/15/32 | 99,000 | 88,605 | ||||||
| Nordstrom, Inc. | ||||||||
| 4.375%, due 4/1/30 | 103,000 | 82,640 | ||||||
Schedule of Investments — IQ MacKay ESG High Income ETF (continued)
January 31, 2023 (unaudited)
| Principal Amount | Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Retail (continued) | ||||||||
| QVC, Inc. | ||||||||
| 4.850%, due 4/1/24 | $ | 93,000 | $ | 88,501 | ||||
| Sonic Automotive, Inc. | ||||||||
| 4.625%, due 11/15/29 | 112,000 | 93,083 | ||||||
| 4.875%, due 11/15/31 | 94,000 | 75,058 | ||||||
| White Cap Parent LLC | ||||||||
| 8.250%, due 3/15/26 | 243,000 | 221,738 | ||||||
| Yum! Brands, Inc. | ||||||||
| 4.625%, due 1/31/32 | 167,000 | 151,943 | ||||||
| 1,487,642 | ||||||||
| Software — 3.4% | ||||||||
| Clarivate Science Holdings Corp. | ||||||||
| 4.875%, due 7/1/29 | 200,000 | 175,985 | ||||||
| Fair Isaac Corp. | ||||||||
| 5.250%, due 5/15/26 | 249,000 | 247,195 | ||||||
| MSCI, Inc. | ||||||||
| 4.000%, due 11/15/29 | 196,000 | 178,360 | ||||||
| PTC, Inc. | ||||||||
| 3.625%, due 2/15/25 | 157,000 | 150,553 | ||||||
| 4.000%, due 2/15/28 | 135,000 | 125,769 | ||||||
| 877,862 | ||||||||
| Telecommunications — 1.1% | ||||||||
| CommScope, Inc. | ||||||||
| 4.750%, due 9/1/29 | 200,000 | 166,472 | ||||||
| Level 3 Financing, Inc. | ||||||||
| 3.750%, due 7/15/29 | 166,000 | 121,353 | ||||||
| 287,825 | ||||||||
| Transportation — 0.7% | ||||||||
| First Student Bidco, Inc. / First Transit Parent, Inc. | ||||||||
| 4.000%, due 7/31/29 | 223,000 | 185,671 | ||||||
| Total Corporate Bonds | ||||||||
| (Cost $20,749,313) | 21,420,986 | |||||||
| Foreign Bonds — 15.4% | ||||||||
| Aerospace & Defense — 1.2% | ||||||||
| Bombardier, Inc., (Canada) | ||||||||
| 7.500%, due 2/1/29 | 36,000 | 35,965 | ||||||
| 7.875%, due 4/15/27 | 288,000 | 287,755 | ||||||
| 323,720 | ||||||||
| Banks — 1.5% | ||||||||
| Intesa Sanpaolo SpA, (Italy) | ||||||||
| 5.710%, due 1/15/26 | 83,000 | 81,561 | ||||||
| UniCredit SpA, (Italy) | ||||||||
| 7.296%, (USD 5 Year Swap + 4.91%), due 4/2/34(a) | 330,000 | 320,848 | ||||||
| 402,409 | ||||||||
| Beverages — 0.5% | ||||||||
| Primo Water Holdings, Inc., (Canada) | ||||||||
| 4.375%, due 4/30/29 | 137,000 | 119,497 | ||||||
| Chemicals — 1.4% | ||||||||
| INEOS Quattro Finance 2 PLC, (United Kingdom) | ||||||||
| 3.375%, due 1/15/26 | 139,000 | 127,580 | ||||||
| SPCM SA, (France) | ||||||||
| 3.125%, due 3/15/27 | 264,000 | 232,418 | ||||||
| 359,998 | ||||||||
| Commercial Services — 0.9% | ||||||||
| Ritchie Bros Auctioneers, Inc., (Canada) | ||||||||
| 5.375%, due 1/15/25 | 246,000 | 242,971 | ||||||
| Electric — 0.9% | ||||||||
| Electricite de France SA, (France) | ||||||||
| 5.625%, (USD 10 Year Swap + 3.04%), due 7/22/71(a) | 243,000 | 236,317 | ||||||
| Environmental Control — 0.3% | ||||||||
| GFL Environmental, Inc., (Canada) | ||||||||
| 3.500%, due 9/1/28 | 90,000 | 80,250 | ||||||
| Forest Products & Paper — 0.4% | ||||||||
| Ahlstrom-Munksjo Holding 3 Oy, (Finland) | ||||||||
| 4.875%, due 2/4/28 | 123,000 | 105,207 | ||||||
| Home Builders — 1.6% | ||||||||
| Brookfield Residential Properties, Inc. / Brookfield Residential US LLC, (Canada) | ||||||||
| 5.000%, due 6/15/29 | 328,000 | 260,481 | ||||||
| Mattamy Group Corp., (Canada) | ||||||||
| 5.250%, due 12/15/27 | 171,000 | 156,465 | ||||||
| 416,946 | ||||||||
| Machinery-Diversified — 0.4% | ||||||||
| Husky III Holding Ltd., (Canada) | ||||||||
| 13.000%, due 2/15/25 | 113,000 | 104,728 | ||||||
| Media — 2.4% | ||||||||
| UPC Broadband Finco BV, (Netherlands) | ||||||||
| 4.875%, due 7/15/31 | 104,000 | 91,496 | ||||||
| Virgin Media Finance PLC, (United Kingdom) | ||||||||
| 5.000%, due 7/15/30 | 98,000 | 82,260 | ||||||
| Virgin Media Secured Finance PLC, (United Kingdom) | ||||||||
| 5.500%, due 5/15/29 | 135,000 | 125,238 | ||||||
| Virgin Media Vendor Financing Notes IV DAC, (United Kingdom) | ||||||||
| 5.000%, due 7/15/28 | 79,000 | 71,700 | ||||||
| VZ Secured Financing BV, (Netherlands) | ||||||||
| 5.000%, due 1/15/32 | 114,000 | 97,622 | ||||||
| Ziggo Bond Co. BV, (Netherlands) | ||||||||
| 5.125%, due 2/28/30 | 83,000 | 68,600 | ||||||
| Ziggo BV, (Netherlands) | ||||||||
| 4.875%, due 1/15/30 | 101,000 | 87,975 | ||||||
| 624,891 | ||||||||
| Retail — 0.7% | ||||||||
| 1011778 BC ULC / New Red Finance, Inc., (Canada) | ||||||||
| 4.000%, due 10/15/30 | 202,000 | 171,952 | ||||||
| Software — 0.6% | ||||||||
| Open Text Corp., (Canada) | ||||||||
| 3.875%, due 12/1/29 | 179,000 | 148,865 | ||||||
| Telecommunications — 2.6% | ||||||||
| Iliad Holding SASU, (France) | ||||||||
| 7.000%, due 10/15/28 | 150,000 | 140,877 | ||||||
| Telecom Italia Capital SA, (Italy) | ||||||||
| 7.721%, due 6/4/38 | 306,000 | 263,888 | ||||||
| Vmed O2 UK Financing I PLC, (United Kingdom) | ||||||||
| 4.750%, due 7/15/31 | 149,000 | 126,654 | ||||||
Schedule of Investments — IQ MacKay ESG High Income ETF (continued)
January 31, 2023 (unaudited)
| Principal Amount | Value | |||||||
| Foreign Bonds (continued) | ||||||||
| Telecommunications (continued) | ||||||||
| Vodafone Group PLC, (United Kingdom) | ||||||||
| 7.000%, (USD 5 Year Swap + 4.87%), due 4/4/79(a) | $ | 148,000 | $ | 152,427 | ||||
| 683,846 | ||||||||
| Total Foreign Bonds | ||||||||
| (Cost $3,840,462) | 4,021,597 | |||||||
| Shares | Value | |||||||
| Short-Term Investment — 1.5% | ||||||||
| Money Market Fund — 1.5% | ||||||||
| BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 4.07%(b) | ||||||||
| (Cost $382,897) | 382,897 | 382,897 | ||||||
| Total Investments — 98.8% | ||||||||
| (Cost $24,972,672) | 25,825,480 | |||||||
| Other Assets and Liabilities, Net — 1.2% | 323,140 | |||||||
| Net Assets — 100.0% | $ | 26,148,620 | ||||||
| (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 January 31, 2023. |
| (b) | Reflects the 7-day yield at January 31, 2023. |
| Abbreviations | |
| CMT | - Constant Maturity Treasury Index |
Schedule of Investments — IQ MacKay ESG High Income ETF (continued)
January 31, 2023 (unaudited)
The following is a summary of the inputs used to value the Fund's investments as of January 31, 2023. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to the Fund's most recent semi-annual or annual financial statements.
| Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Asset Valuation Inputs | ||||||||||||||||
| Investments in Securities:(a) | ||||||||||||||||
| Corporate Bonds | $ | – | $ | 21,420,986 | $ | – | $ | 21,420,986 | ||||||||
| Foreign Bonds | – | 4,021,597 | – | 4,021,597 | ||||||||||||
| Short-Term Investment: | ||||||||||||||||
| Money Market Fund | 382,897 | – | – | 382,897 | ||||||||||||
| Total Investments in Securities | $ | 382,897 | $ | 25,442,583 | $ | – | $ | 25,825,480 | ||||||||
| (a) | For a complete listing of investments and their states, see the Schedule of Investments. |
For the period ended January 31, 2023 the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy.