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The IQ Hedge Multi-Strategy Tracker ETF (NYSE Arca: QAI), the first U.S.-listed hedge fund replication Exchange-Traded Fund, celebrated its three-year anniversary on March 25, 2012, the fund’s sponsor, IndexIQ, has announced.
“We launched the IQ Hedge Multi-Strategy Tracker ETF in 2009 with the goal of making a whole new asset class available to the average investor,” said Adam Patti, CEO of IndexIQ. “Before the launch of QAI, hedge fund investing was generally limited to institutions and high net worth individuals. QAI changed all of that. While the concept was novel at the time, QAI has performed as we anticipated over the past three years and has attracted more than $200 million in assets.”
QAI is designed to give investors and their financial advisors access to institutional quality investment strategies in a low cost, fully transparent, and highly liquid vehicle. It seeks to replicate, before fees and expenses, the returns of the IQ® Hedge Multi-Strategy Index. The Index uses multiple hedge fund investment styles, including long/short equity, global macro, market neutral, event-driven, fixed income arbitrage, and emerging markets.
Since its launch, QAI has weathered a period of dramatic stock market volatility, providing annualized returns and standard deviation as of QAI’s 3-year anniversary date as follows:
As of March 26, 2012
As of December 31, 2011
Performance greater than 1 year is annualized. Performance data shown represents past performance and is not a guarantee of future results. Investment return and value of the Funds’ shares will fluctuate so that an investor’s shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. Fund returns reflect dividends and capital gains distributions. Fund performance current to the most recent month-end is available by calling 1-888-934-0777 or by visiting www.IndexIQ.com. Expense ratio is 0.75% and total operating expenses is 1.06%.
“During this period of extraordinary turbulence, advisors, investors, institutions, and even other hedge funds have used QAI to maintain exposure to the markets at lower risk as measured by standard deviation,” said Patti. “It has proven to be a highly effective tool for diversifying a wide variety of portfolios.”