- Last Ratings Update:10/31/2014
- Price as of 10/31/2014 :$26.31
- Net Assets:$25.6 Million
- Peer Rank:146 of 223
- Investment Rating:D+
We rate IQ Hedge Macro Tracker ETF at D+. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Negative factors that influence this rating include a short term portfolio management tenure. The fund invests approximately 98% of its assets in stocks and may be considered for investors seeking a Global Equity strategy.
POSITIVES AND RISKS
Total return ranks well below peers over the last three years. The IQ Hedge Macro Tracker ETF has returned an annual rate of 1.91% since inception. More recently, the fund has generated a total return of 0.74% in the last five years, -0.21% in the last three years, and -0.09% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 17% of them. It has also outpaced 19% of its competitors on a three year basis and 24% of them over the last year for the period ending 10/31/2014. On a year to date basis, MCRO has returned 0.26%.
Downside risk has been below average. MCRO has a draw down risk of -8.54%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 5.1%. This fund has had very little volatility in its monthly performance over the last 36 months. As of 10/31/2014, the fund was trading at a price of $26.31, which is 0.3% below its 52-week high of $26.40 and 0.8% above its 52-week low of $26.09.
Low expense ratio helps performance. On total assets of $25.60 million, MCRO maintains a low expense ratio compared to its Global Equity peers of just 0.75% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As MCRO is an exchange traded fund, it has no front end or back end load.
The IQ Hedge Macro Tracker ETF is managed by Denise Krisko at IndexIQ Advisors LLC. This fund is one of 11 IndexIQ Advisors LLC exchange-traded funds launched since 3/24/2009 that we track.
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