NPORT-EX 2 263075IQHedgeMktNeutrlTk.htm

Schedule of Investments ─ IQ Hedge Market Neutral Tracker ETF

July 31, 2021 (unaudited)

	Shares		Value
Investment Companies — 99.9%

Bank Loan Funds — 17.9%
Invesco Senior Loan ETF		75,430	$	1,661,723
SPDR Blackstone Senior Loan ETF		33,243		1,523,194
Total Bank Loan Funds				3,184,917

Convertible Bond Funds — 0.8%
iShares Convertible Bond ETF		282		28,200
SPDR Bloomberg Barclays Convertible Securities ETF		1,320		113,137
Total Convertible Bond Funds				141,337

Emerging Bonds - Local Currency Funds — 0.5%
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF		952		24,990
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF		2,110		65,642
Total Emerging Bonds - Local Currency Funds				90,632

Emerging Equity Funds — 4.0%
iShares Core MSCI Emerging Markets ETF^(a)		5,600		353,976
Vanguard FTSE Emerging Markets ETF^(a)		6,956		355,521
Total Emerging Equity Funds				709,497

Floating Rate - Investment Grade Funds — 3.9%
iShares Floating Rate Bond ETF		9,780		496,824
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF		6,199		189,937
Total Floating Rate - Investment Grade Funds				686,761

High Yield Corporate Bond Funds — 1.7%
iShares 0-5 Year High Yield Corporate Bond ETF		3,292		150,938
SPDR Bloomberg Barclays Short Term High Yield Bond ETF		5,313		145,842
Total High Yield Corporate Bond Funds				296,780

International Bond Fund — 9.0%
SPDR Bloomberg Barclays International Treasury Bond ETF		53,944		1,604,295

International Small Cap Equity Funds — 3.6%
Schwab International Small-Cap Equity ETF^(a)		4,193		177,825
Vanguard FTSE All World ex-U.S. Small-Cap ETF		3,370		464,117
Total International Small Cap Equity Funds				641,942

Investment Grade Corporate Bond Funds — 3.2%
iShares Broad USD Investment Grade Corporate Bond ETF		588		36,015
iShares iBoxx $ Investment Grade Corporate Bond ETF^(a)		1,816		246,994
Vanguard Intermediate-Term Corporate Bond ETF		2,959		284,331
Total Investment Grade Corporate Bond Funds				567,340

Mortgage Backed Securities Funds — 5.3%
iShares MBS ETF		5,000		543,450
SPDR Portfolio Mortgage Backed Bond ETF^(a)		3,184		82,593
Vanguard Mortgage-Backed Securities ETF^(a)		5,959		319,402
Total Mortgage Backed Securities Funds				945,445

Municipal Bond Fund — 1.3%
VanEck Vectors High Yield Muni ETF		3,562		227,505

U.S. Medium Term Treasury Bond Funds — 8.2%
iShares 3-7 Year Treasury Bond ETF		5,484		722,462
Schwab Intermediate-Term U.S. Treasury ETF		3,976		228,660
Vanguard Intermediate-Term Treasury ETF		7,428		509,189
Total U.S. Medium Term Treasury Bond Funds				1,460,311

U.S. Momentum Fund — 1.0%
iShares MSCI USA Momentum Factor ETF		1,029		180,106

U.S. Ultra Short Term Bond Funds — 39.5%
Invesco Treasury Collateral ETF		2,770		292,706
IQ Ultra Short Duration ETF^†		135,699		6,721,172
Total U.S. Ultra Short Term Bond Funds				7,013,878

Total Investment Companies (Cost $17,493,425)				17,750,746

Short-Term Investments — 2.4%

Money Market Funds — 2.4%
Dreyfus Government Cash Management Fund, Institutional Shares, 0.03%^(b)(c)		398,632		398,632
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 0.01%^(b)		36,077		36,077
Total Short-Term Investments (Cost $434,709)				434,709

Total Investments — 102.3%
(Cost $17,928,134)				18,185,455
Other Assets and Liabilities, Net — (2.3)%				(414,648	)
Net Assets — 100.0%			$	17,770,807

†	Affiliated Fund.
(a)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $977,108; total market value of collateral held by the Fund was $1,004,000. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $605,368.
(b)	Reflects the 1-day yield at July 31, 2021.
(c)	Represents security purchased with cash collateral received for securities on loan.

Schedule of Investments ─ IQ Hedge Market Neutral Tracker ETF (continued)

July 31, 2021 (unaudited)

Total Return Swap contracts outstanding at July 31, 2021:

Total Return Benchmark

Counterparty

Floating Rate^(d)

Expiration
Date

Payment
Frequency

Notional
Amount
Long/
(Short)

Value/
Unrealized
Appreciation/
(Depreciation)^(e)

Invesco DB U.S. Dollar Index Bullish Fund

Morgan Stanley

1-Day FEDEF - 4.65%

5/03/2022

Monthly

(393,893

)

–

Invesco KBW Bank ETF

Morgan Stanley

1-Day FEDEF - 2.85%

5/03/2022

Monthly

(36,168

)

–

Invesco Preferred ETF

Morgan Stanley

1-Day FEDEF - 0.70%

5/03/2022

Monthly

(70,682

)

–

Invesco Senior Loan ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

166,745

–

Invesco Treasury Collateral ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

29,376

–

IQ Ultra Short Duration ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

674,400

–

iShares 0-5 Year High Yield Corporate Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

15,131

–

iShares 3-7 Year Treasury Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

72,457

–

iShares Broad USD Investment Grade Corporate Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

3,614

–

iShares Convertible Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

2,800

–

iShares Core MSCI Emerging Markets ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

35,524

–

iShares Core S&P U.S. Value ETF

Morgan Stanley

1-Day FEDEF - 0.85%

5/03/2022

Monthly

(34,554

)

–

iShares Floating Rate Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

49,835

–

iShares iBoxx $ Investment Grade Corporate Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

24,754

–

iShares iBoxx High Yield Corporate Bond ETF

Morgan Stanley

1-Day FEDEF - 2.75%

5/03/2022

Monthly

(144,145

)

–

iShares MBS ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

54,562

–

iShares MSCI USA Momentum Factor ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

18,028

–

iShares Preferred & Income Securities ETF

Morgan Stanley

1-Day FEDEF - 1.10%

5/03/2022

Monthly

(191,897

)

–

iShares Russell 2000 Value ETF

Morgan Stanley

1-Day FEDEF - 0.35%

5/03/2022

Monthly

(34,711

)

–

iShares S&P Small-Cap 600 Value ETF

Morgan Stanley

1-Day FEDEF - 3.10%

5/03/2022

Monthly

(20,872

)

–

iShares TIPS Bond ETF

Morgan Stanley

1-Day FEDEF - 0.35%

5/03/2022

Monthly

(162,311

)

–

Schwab Intermediate-Term U.S. Treasury ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

22,946

–

Schwab International Small-Cap Equity ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

17,855

–

Schwab U.S. Large-Cap Value ETF

Morgan Stanley

1-Day FEDEF - 1.55%

5/03/2022

Monthly

(31,943

)

–

Schwab U.S. TIPS ETF

Morgan Stanley

1-Day FEDEF - 0.90%

5/03/2022

Monthly

(105,674

)

–

SPDR Blackstone Senior Loan ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

152,856

–

SPDR Bloomberg Barclays Convertible Securities ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

11,314

–

SPDR Bloomberg Barclays Emerging Markets Local Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

2,494

–

SPDR Bloomberg Barclays High Yield Bond ETF

Morgan Stanley

1-Day FEDEF - 2.70%

5/03/2022

Monthly

(69,265

)

–

SPDR Bloomberg Barclays International Treasury Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

160,983

–

Schedule of Investments ─ IQ Hedge Market Neutral Tracker ETF (continued)

July 31, 2021 (unaudited)

Total Return Benchmark

Counterparty

Floating Rate^(d)

Expiration
Date

Payment
Frequency

Notional
Amount
Long/
(Short)

Value/
Unrealized
Appreciation/
(Depreciation)^(e)

SPDR Bloomberg Barclays Investment Grade Floating Rate ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

19,058

–

SPDR Bloomberg Barclays Short Term High Yield Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

14,631

–

SPDR Portfolio Mortgage Backed Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

8,275

–

SPDR Portfolio S&P 500 Value ETF

Morgan Stanley

1-Day FEDEF - 0.65%

5/03/2022

Monthly

(40,538

)

–

SPDR S&P Bank ETF

Morgan Stanley

1-Day FEDEF - 0.35%

5/03/2022

Monthly

(50,845

)

–

VanEck Vectors High Yield Muni ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

22,802

–

VanEck Vectors J.P. Morgan EM Local Currency Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

6,595

–

Vanguard FTSE All World ex-U.S. Small-Cap ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

46,549

–

Vanguard FTSE Emerging Markets ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

35,675

–

Vanguard Intermediate-Term Corporate Bond ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

28,539

–

Vanguard Intermediate-Term Treasury ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

51,070

–

Vanguard Mortgage-Backed Securities ETF

Morgan Stanley

1-Day FEDEF + 0.50%

7/05/2023

Monthly

32,053

–

Vanguard Russell 1000 Value

Morgan Stanley

1-Day FEDEF - 0.85%

5/03/2022

Monthly

(19,636

)

–

Vanguard Small-Cap Value ETF

Morgan Stanley

1-Day FEDEF - 0.35%

5/03/2022

Monthly

(51,923

)

–

Vanguard Value ETF

Morgan Stanley

1-Day FEDEF - 0.35%

5/03/2022

Monthly

(272,007

)

–

Xtrackers USD High Yield Corporate Bond ETF

Morgan Stanley

1-Day FEDEF - 0.85%

5/03/2022

Monthly

(48,686

)

–

At July 31, 2021 there was no collateral held or posted. The Fund either receives fees from, or pays to the counterparty, the total return of the benchmark and the agreed-upon financing rate.

(d) Portfolio pays or receives the floating rate and receives or pays the total return of the reference rate entity.

(e) Reflects the value at reset date of July 31, 2021.

Abbreviation

FEDEF — Federal Funds Effective Rate

Schedule of Investments ─ IQ Hedge Market Neutral Tracker ETF (continued)

July 31, 2021 (unaudited)

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2021. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to the Fund's most recent semi-annual or annual financial statements.

Description

Level 1

Level 2

Level 3

Total

Asset Valuation Inputs

Investments in Securities:^(f)

Investment Companies

17,750,746

–

17,750,746

Short-Term Investments:

Money Market Funds

434,709

–

434,709

Total Investments in Securities

18,185,455

–

18,185,455

Other Financial Instruments:^(g)

Swap Contracts

–

Total Investments in Securities and Other Financial Instruments

18,185,455

–

18,185,455

Liability Valuation Inputs

Other Financial Instruments:^(g)

Swap Contracts

–

(f)	For a complete listing of investments and their industries, see the Schedule of Investments.
(g)	Reflects the unrealized appreciation (depreciation) of the instruments.

For the period ended July 31, 2021, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy.

A summary of the Fund’s transactions with affiliated fund during the period ended July 31, 2021 is as follows:

Affiliated Holdings

		Shares at 04/30/2021				Value ($) at 04/30/2021				Purchases Cost ($)				Sales Proceeds ($)				Net Realized Gain/(Loss) ($)				Net Change in Unrealized Appreciation/ (Depreciation) ($)				Income Distributions ($)				Capital Gain Distributions ($)				Shares at 07/31/2021				Value ($) at 07/31/2021
IQ Ultra Short Duration ETF			87,410				4,336,410				2,505,414				(110,592	)			(346	)			(9,714	)			13,003				–				135,699				6,721,172