What You Should Know:
- IndexIQ sponsors the fund.
- QAI has an expense ratio of 1.06%.
- Sector allocations include: basic materials 5.8%, consumer cyclical 10.1%, financial services 14.4%, real estate 12.5%, communications 3.7%, energy 7.5%, industrials 12.9%, technology 10.7%, consumer defensive 8.8%, healthcare 10.1% and utilities 3.5%.
- The ETF is up 1.1% over the last month, up 0.9% over the past three months and up 2.8% year-to-date.
- The fund is 1.2% above its 200-day exponential moving average.
- QAI tries to mirror the performance of the overall hedge fund universe and provide a low correlation to the equity markets.
The Latest News:
- According to Bloomberg data, hedge funds posted 0.2% gains in July, but long/short equity and multistrategy managers saw declines, reports Kelly Bit for Bloomberg.
- In comparison, the MSCI All-Country World Index returned 1.4% last month as.
- “People are in that cautious watch-and-don’t-do-anything mode,” Emma Sugarman, global head of capital introduction at BNP Paribas SA, said in the article. “We had some pretty intense intra-month volatility.”
- Hedge funds rose 1.9% in the first seven months of the year, whereas global equities gained 7.5%, with dividends.
- “During the month of July, what hurt long-short equity managers was low net exposure,” Don Steinbrugge, managing partner of Agecroft Partners LLC, a firm that advises hedge funds and investors, said.
IndexIQ Hedge Multi-Strategy Tracker ETF
For past stories in this series, visit our ETF Spotlight category.
Max Chen contributed to this article.