The underlying IQ Hedge Market Neutral Index has gained 2.9% year-to-date, 2.8% over the past year and 4.6% over the last three years.
QMN’s index asset allocations include short-term bonds 58.7%, broad bonds 16.2%, international equity 12.8%, convertible bonds 5.1%, high-yield bonds 4.3% and currencies 2.0%.
The ETF is a type of fund-of-funds as it holds other ETFs. For instance, its top holdings include Vanguard Short-term Bond ETF (NYSEArca: BSV) 24.1%, iShares Barclays 1-3 Yr Treasury Bond Fund (NYSEArca: SHY) 24.0% and Vanguard Total Bond Market ETF (NYSEArca: BND) 8.4%.
For more information on new product launches, visit our new ETFs category.
Max Chen contributed to this article.