“Before the launch of QAI, hedge fund investing was generally limited to instittuions and high net worth individuals.” Adam Patti, CEO of IndexIQ, said in a press release. “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.”

Other funds in this sub-space include WisdomTree Managed Futures Strategy Fund (NYSEArca: WDTI), Credit Suisse Merger Arbitrage Liquid Index (NYSEArca: CSMA) and Credit Suisse Long/Short Liquid Index (NYSEArca: CSLS).

For more information on new launches, visit our new ETFs category.

Max Chen contributed to this article.