The investment seeks long-term growth of capital by investing in a range of securities and asset classes across global markets.
The fund will typically seek exposure to a combination of four asset classes: equity, fixed-income, currency and volatility. Its equity exposure typically will be obtained through investments in broad, equity index listed futures, equity index options, options on futures and exchange-traded funds ("ETFs"). The fund's fixed-income exposure may consist of, but is not limited to, U.S. and non-U.S. government bonds, listed bond futures, options on futures and fixed-income ETFs. It is non-diversified.
The investment seeks investment results that correspond (before fees and expenses) generally to the price and yield performance of its underlying index, the IQ Hedge Macro Index.
The fund is a "fund of funds" which means it invests, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the investments included in its underlying index, which includes underlying funds. The underlying index consists of a number of components ("underlying index Components") selected in accordance with IndexIQ's rules-based methodology of such underlying index.