IndexIQ Reduces Fees For IQ Hedge Multi-Strategy Tracker ETF (QAI)

RYE BROOK, N.Y., Oct. 23, 2017 /PRNewswire/ -- IndexIQ is waiving a portion of the management fee for its $1 billion IQ Hedge Multi-Strategy Tracker ETF (NYSE Arca: QAI) to reduce the fee by 29% to 53 basis points, a 22-basis point reduction.^[1] Including acquired fund fees, the total expense ratio for QAI after the fee waiver will now be 76 basis points. This change is effective November 1, 2017.

QAI, which launched in 2009 as the first hedge fund replication ETF, is the largest ETF in the multi-alternative category by asset size. With its unique approach of delivering investors hedge fund exposure with the liquidity, transparency, tax efficiency and low costs inherent in the ETF structure, QAI and subsequent offerings from IndexIQ helped pioneer the multi-alternative ETF category.

"Lowering the fees on this flagship ETF will allow more investors to benefit from exposure to hedge fund performance, and the diversification it provides within a well-constructed portfolio," said Salvatore Bruno CIO of IndexIQ. "With a live track record stretching back more than eight years, QAI has performed exactly as planned while supporting the launch of other successful liquid alternative funds like our merger arbitrage ETF, MNA. We remain focused on delivering cost-effective, innovative ETF approaches that help advisors and investors achieve their financial goals."

For more information on QAI and IndexIQ, please visit IQetfs.com.

About IndexIQ

IndexIQ is a pioneer and leading provider of innovative investment solutions focused on absolute return, real assets, international and fixed income strategies. IndexIQ's solutions are offered as ETFs, mutual funds, separately managed accounts, and ETF model portfolios. The company's philosophy is to democratize investment management by providing all investors with cost-effective access to the types of high-quality, sophisticated investment products that typically have been reserved for institutional and ultra high-net-worth investors. IndexIQ's mission is to take indexing to the next level by combining the best attributes of both passive and active investing, and make strategies available to investors in low cost, liquid, and transparent products. IndexIQ is an indirect, wholly-owned subsidiary of New York Life Insurance Company. Additional information about IndexIQ and its products can be found at IQetfs.com.  

Consider the Fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus and the statement of additional information includes this and other relevant information about the Fund and are available by visiting IQetfs.com or calling 888-474-7725. Read the prospectus carefully before investing.

IndexIQ® is the indirect wholly owned subsidiary of New York Life Investment Management Holdings LLC. ALPS Distributors, Inc. (ALPS) is the principal underwriter of the ETFs. NYLIFE Distributors LLC is a distributor of the ETFs and the principal underwriter of the IQ Hedge Multi-Strategy Plus Fund 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.

Fund shares are not individually redeemable and will be issued and redeemed at their NAV only through certain authorized broker-dealers in large, specified blocks of shares called "creation units", and otherwise, can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in-kind.

^[1]   IndexIQ has contractually agreed, until August 31, 2019, to waive a portion of its management fee equal to 0.22% of average daily net assets.

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SOURCE IndexIQ