Schedule of Investments ─ IQ MacKay ESG High Income ETF
July 31, 2023 (unaudited)
| Principal Amount | Value | |||||||
| Long - Term Bonds 97.8% | ||||||||
| Corporate Bonds — 82.2% | ||||||||
| Advertising — 0.7% | ||||||||
| Lamar Media Corp. | ||||||||
| 4.000%, due 2/15/30 | $ | 352,000 | $ | 309,928 | ||||
| Outfront Media Capital LLC / Outfront Media Capital Corp. | ||||||||
| 4.250%, due 1/15/29 | 362,000 | 307,266 | ||||||
| 617,194 | ||||||||
| Aerospace & Defense — 0.8% | ||||||||
| TransDigm, Inc. | ||||||||
| 4.625%, due 1/15/29 | 302,000 | 269,535 | ||||||
| 4.875%, due 5/1/29 | 306,000 | 275,342 | ||||||
| 6.250%, due 3/15/26 | 90,000 | 89,515 | ||||||
| 6.750%, due 8/15/28 | 85,000 | 85,254 | ||||||
| 719,646 | ||||||||
| Agriculture — 0.5% | ||||||||
| Darling Ingredients, Inc. | ||||||||
| 5.250%, due 4/15/27 | 432,000 | 420,143 | ||||||
| Airlines — 2.3% | ||||||||
| Allegiant Travel Co. | ||||||||
| 7.250%, due 8/15/27 | 263,000 | 259,461 | ||||||
| American Airlines, Inc. | ||||||||
| 11.750%, due 7/15/25 | 231,000 | 254,595 | ||||||
| American Airlines, Inc./AAdvantage Loyalty IP Ltd. | ||||||||
| 5.500%, due 4/20/26 | 512,417 | 504,737 | ||||||
| Delta Air Lines, Inc. | ||||||||
| 4.375%, due 4/19/28 | 245,000 | 232,736 | ||||||
| 7.375%, due 1/15/26 | 62,000 | 64,364 | ||||||
| United Airlines, Inc. | ||||||||
| 4.375%, due 4/15/26 | 292,000 | 276,477 | ||||||
| 4.625%, due 4/15/29 | 385,000 | 348,296 | ||||||
| 1,940,666 | ||||||||
| Apparel — 0.5% | ||||||||
| Hanesbrands, Inc. | ||||||||
| 4.875%, due 5/15/26 | 415,000 | 389,087 | ||||||
| Auto Manufacturers — 2.7% | ||||||||
| Ford Motor Co. | ||||||||
| 3.250%, due 2/12/32 | 450,000 | 355,785 | ||||||
| Ford Motor Credit Co. LLC | ||||||||
| 3.375%, due 11/13/25 | 445,000 | 416,065 | ||||||
| 3.815%, due 11/2/27 | 378,000 | 339,311 | ||||||
| 4.000%, due 11/13/30 | 224,000 | 192,426 | ||||||
| 4.950%, due 5/28/27 | 382,000 | 362,501 | ||||||
| 7.350%, due 3/6/30 | 670,000 | 693,595 | ||||||
| 2,359,683 | ||||||||
| Auto Parts & Equipment — 1.7% | ||||||||
| Clarios Global LP / Clarios US Finance Co. | ||||||||
| 6.250%, due 5/15/26 | 755,000 | 754,440 | ||||||
| 8.500%, due 5/15/27 | 81,000 | 82,011 | ||||||
| Dana, Inc. | ||||||||
| 4.500%, due 2/15/32 | 94,000 | 78,358 | ||||||
| Goodyear Tire & Rubber Co. (The) | ||||||||
| 5.000%, due 7/15/29 | 635,000 | 585,537 | ||||||
| 1,500,346 | ||||||||
| Banks — 0.0%(a) | ||||||||
| Fifth Third Bancorp | ||||||||
| 4.772%, (SOFRINDX + 2.13%), due 7/28/30(b) | 18,000 | 16,937 | ||||||
| Principal Amount | Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Beverages — 0.0%(a) | ||||||||
| Triton Water Holdings, Inc. | ||||||||
| 6.250%, due 4/1/29 | $ | 33,000 | $ | 27,885 | ||||
| Building Materials — 1.7% | ||||||||
| Camelot Return Merger Sub, Inc. | ||||||||
| 8.750%, due 8/1/28 | 286,000 | 278,932 | ||||||
| Emerald Debt Merger Sub LLC | ||||||||
| 6.625%, due 12/15/30 | 335,000 | 332,906 | ||||||
| MIWD Holdco II LLC / MIWD Finance Corp. | ||||||||
| 5.500%, due 2/1/30 | 340,000 | 287,300 | ||||||
| Standard Industries, Inc. | ||||||||
| 4.375%, due 7/15/30 | 640,000 | 555,574 | ||||||
| 1,454,712 | ||||||||
| Chemicals — 2.1% | ||||||||
| Avient Corp. | ||||||||
| 7.125%, due 8/1/30 | 317,000 | 319,555 | ||||||
| Innophos Holdings, Inc. | ||||||||
| 9.375%, due 2/15/28 | 372,000 | 369,887 | ||||||
| Olin Corp. | ||||||||
| 5.000%, due 2/1/30 | 183,000 | 168,082 | ||||||
| Olympus Water US Holding Corp. | ||||||||
| 4.250%, due 10/1/28 | 74,000 | 59,307 | ||||||
| Rain CII Carbon LLC / CII Carbon Corp. | ||||||||
| 7.250%, due 4/1/25 | 320,000 | 318,400 | ||||||
| Scih Salt Holdings, Inc. | ||||||||
| 6.625%, due 5/1/29 | 104,000 | 90,368 | ||||||
| SCIH Salt Holdings, Inc. | ||||||||
| 4.875%, due 5/1/28 | 250,000 | 223,680 | ||||||
| Trinseo Materials Operating Sca / Trinseo Materials Finance, Inc. | ||||||||
| 5.125%, due 4/1/29 | 22,000 | 12,934 | ||||||
| WR Grace Holdings LLC | ||||||||
| 5.625%, due 8/15/29 | 257,000 | 216,880 | ||||||
| 1,779,093 | ||||||||
| Commercial Services — 5.2% | ||||||||
| ADT Security Corp. (The) | ||||||||
| 4.125%, due 8/1/29 | 304,000 | 263,720 | ||||||
| Allied Universal Holdco LLC / Allied Universal Finance Corp. | ||||||||
| 6.000%, due 6/1/29 | 251,000 | 191,469 | ||||||
| 9.750%, due 7/15/27 | 53,000 | 48,606 | ||||||
| Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl | ||||||||
| 4.625%, due 6/1/28 | 635,000 | 538,550 | ||||||
| AMN Healthcare, Inc. | ||||||||
| 4.000%, due 4/15/29 | 79,000 | 70,160 | ||||||
| Avis Budget Car Rental LLC / Avis Budget Finance, Inc. | ||||||||
| 5.375%, due 3/1/29 | 310,000 | 288,429 | ||||||
| Brink’s Co. (The) | ||||||||
| 4.625%, due 10/15/27 | 71,000 | 66,718 | ||||||
| Carriage Services, Inc. | ||||||||
| 4.250%, due 5/15/29 | 75,000 | 64,969 | ||||||
| Gartner, Inc. | ||||||||
| 4.500%, due 7/1/28 | 345,000 | 322,519 | ||||||
| Herc Holdings, Inc. | ||||||||
| 5.500%, due 7/15/27 | 311,000 | 298,854 | ||||||
| Hertz Corp. (The) | ||||||||
| 4.625%, due 12/1/26 | 501,000 | 452,629 | ||||||
| 5.000%, due 12/1/29 | 134,000 | 110,696 | ||||||
| Nesco Holdings II, Inc. | ||||||||
| 5.500%, due 4/15/29 | 93,000 | 84,583 | ||||||
Schedule of Investments ─ IQ MacKay ESG High Income ETF (continued)
July 31, 2023 (unaudited)
| Principal Amount | Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Commercial Services (continued) | ||||||||
| Prime Security Services Borrower LLC / Prime Finance, Inc. | ||||||||
| 3.375%, due 8/31/27 | $ | 490,000 | $ | 432,546 | ||||
| Service Corp. International | ||||||||
| 3.375%, due 8/15/30 | 424,000 | 353,526 | ||||||
| Sotheby’s | ||||||||
| 7.375%, due 10/15/27 | 345,000 | 305,623 | ||||||
| Wash Multifamily Acquisition, Inc. | ||||||||
| 5.750%, due 4/15/26 | 510,000 | 474,523 | ||||||
| Williams Scotsman International, Inc. | ||||||||
| 4.625%, due 8/15/28 | 72,000 | 66,220 | ||||||
| 4,434,340 | ||||||||
| Computers — 1.4% | ||||||||
| NCR Corp. | ||||||||
| 5.125%, due 4/15/29 | 615,000 | 549,963 | ||||||
| Seagate HDD Cayman | ||||||||
| 4.091%, due 6/1/29 | 335,000 | 294,390 | ||||||
| 4.125%, due 1/15/31 | 68,000 | 56,039 | ||||||
| 8.500%, due 7/15/31 | 25,000 | 26,101 | ||||||
| Tempo Acquisition LLC / Tempo Acquisition Finance Corp. | ||||||||
| 5.750%, due 6/1/25 | 248,000 | 249,860 | ||||||
| 1,176,353 | ||||||||
| Cosmetics/Personal Care — 0.1% | ||||||||
| Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International US LLC | ||||||||
| 6.625%, due 7/15/30 | 75,000 | 75,656 | ||||||
| Diversified Financial Services — 2.1% | ||||||||
| OneMain Finance Corp. | ||||||||
| 3.500%, due 1/15/27 | 327,000 | 282,748 | ||||||
| 6.625%, due 1/15/28 | 696,000 | 659,885 | ||||||
| PennyMac Financial Services, Inc. | ||||||||
| 4.250%, due 2/15/29 | 140,000 | 115,576 | ||||||
| 5.375%, due 10/15/25 | 394,000 | 376,510 | ||||||
| Rocket Mortgage LLC / Rocket Mortgage Co.-Issuer, Inc. | ||||||||
| 3.625%, due 3/1/29 | 412,000 | 351,222 | ||||||
| 1,785,941 | ||||||||
| Electric — 3.1% | ||||||||
| Calpine Corp. | ||||||||
| 3.750%, due 3/1/31 | 342,000 | 280,328 | ||||||
| 4.500%, due 2/15/28 | 526,000 | 482,811 | ||||||
| 4.625%, due 2/1/29 | 40,000 | 34,441 | ||||||
| Edison International | ||||||||
| Series B, 5.000%, (5 Year US CMT T-Note + 3.90%), due 3/15/72(b) | 242,000 | 209,081 | ||||||
| NextEra Energy Operating Partners LP | ||||||||
| 4.250%, due 7/15/24 | 29,000 | 28,456 | ||||||
| PG&E Corp. | ||||||||
| 5.000%, due 7/1/28 | 294,000 | 271,990 | ||||||
| Vistra Corp. | ||||||||
| 8.000%, (5 Year US CMT T-Note + 6.93%), due 4/15/72(b) | 1,130,000 | 1,081,354 | ||||||
| Vistra Operations Co. LLC | ||||||||
| 4.375%, due 5/1/29 | 262,000 | 231,255 | ||||||
| 2,619,716 | ||||||||
| Electrical Component & Equipment — 0.4% | ||||||||
| Energizer Holdings, Inc. | ||||||||
| 4.750%, due 6/15/28 | 424,000 | 380,849 | ||||||
| Principal Amount | Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Electronics — 0.4% | ||||||||
| Imola Merger Corp. | ||||||||
| 4.750%, due 5/15/29 | $ | 441,000 | $ | 387,212 | ||||
| Engineering & Construction — 0.9% | ||||||||
| Artera Services LLC | ||||||||
| 9.033%, due 12/4/25 | 320,000 | 300,859 | ||||||
| Brundage-Bone Concrete Pumping Holdings, Inc. | ||||||||
| 6.000%, due 2/1/26 | 318,000 | 305,442 | ||||||
| Weekley Homes LLC / Weekley Finance Corp. | ||||||||
| 4.875%, due 9/15/28 | 185,000 | 166,046 | ||||||
| 772,347 | ||||||||
| Entertainment — 3.4% | ||||||||
| Affinity Interactive | ||||||||
| 6.875%, due 12/15/27 | 445,000 | 393,683 | ||||||
| Caesars Entertainment, Inc. | ||||||||
| 4.625%, due 10/15/29 | 604,000 | 531,715 | ||||||
| CDI Escrow Issuer, Inc. | ||||||||
| 5.750%, due 4/1/30 | 126,000 | 117,022 | ||||||
| Churchill Downs, Inc. | ||||||||
| 4.750%, due 1/15/28 | 393,000 | 363,281 | ||||||
| International Game Technology PLC | ||||||||
| 5.250%, due 1/15/29 | 293,000 | 278,351 | ||||||
| Penn National Gaming, Inc. | ||||||||
| 4.125%, due 7/1/29 | 132,000 | 109,029 | ||||||
| Scientific Games Holdings LP/Scientific Games US FinCo, Inc. | ||||||||
| 6.625%, due 3/1/30 | 380,000 | 336,703 | ||||||
| WMG Acquisition Corp. | ||||||||
| 3.750%, due 12/1/29 | 575,000 | 502,113 | ||||||
| Wynn Resorts Finance LLC / Wynn Resorts Capital Corp. | ||||||||
| 5.125%, due 10/1/29 | 297,000 | 268,749 | ||||||
| 2,900,646 | ||||||||
| Environmental Control — 0.7% | ||||||||
| Covanta Holding Corp. | ||||||||
| 4.875%, due 12/1/29 | 320,000 | 282,596 | ||||||
| Waste Pro USA, Inc. | ||||||||
| 5.500%, due 2/15/26 | 335,000 | 317,413 | ||||||
| 600,009 | ||||||||
| Food — 2.9% | ||||||||
| Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC | ||||||||
| 4.625%, due 1/15/27 | 513,000 | 486,144 | ||||||
| 6.500%, due 2/15/28 | 320,000 | 318,742 | ||||||
| B&G Foods, Inc. | ||||||||
| 5.250%, due 9/15/27 | 456,000 | 393,232 | ||||||
| Lamb Weston Holdings, Inc. | ||||||||
| 4.875%, due 5/15/28 | 13,000 | 12,348 | ||||||
| Performance Food Group, Inc. | ||||||||
| 4.250%, due 8/1/29 | 390,000 | 346,444 | ||||||
| Post Holdings, Inc. | ||||||||
| 4.625%, due 4/15/30 | 413,000 | 363,947 | ||||||
| 5.500%, due 12/15/29 | 276,000 | 256,315 | ||||||
| US Foods, Inc. | ||||||||
| 4.625%, due 6/1/30 | 363,000 | 326,500 | ||||||
| 2,503,672 | ||||||||
| Food Service — 0.5% | ||||||||
| Aramark Services, Inc. | ||||||||
| 5.000%, due 2/1/28 | 436,000 | 409,841 | ||||||
Schedule of Investments ─ IQ MacKay ESG High Income ETF (continued)
July 31, 2023 (unaudited)
| Principal Amount | Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Gas — 0.1% | ||||||||
| AmeriGas Partners LP / AmeriGas Finance Corp. | ||||||||
| 9.375%, due 6/1/28 | $ | 110,000 | $ | 112,134 | ||||
| Healthcare-Products — 0.8% | ||||||||
| Hologic, Inc. | ||||||||
| 4.625%, due 2/1/28 | 412,000 | 391,622 | ||||||
| Teleflex, Inc. | ||||||||
| 4.625%, due 11/15/27 | 340,000 | 320,875 | ||||||
| 712,497 | ||||||||
| Healthcare-Services — 4.6% | ||||||||
| Catalent Pharma Solutions, Inc. | ||||||||
| 3.125%, due 2/15/29 | 355,000 | 296,227 | ||||||
| Centene Corp. | ||||||||
| 2.500%, due 3/1/31 | 349,000 | 279,252 | ||||||
| 4.625%, due 12/15/29 | 364,000 | 338,422 | ||||||
| Chs/Community Health Systems, Inc. | ||||||||
| 5.250%, due 5/15/30 | 258,000 | 206,151 | ||||||
| 6.000%, due 1/15/29 | 343,000 | 293,265 | ||||||
| CHS/Community Health Systems, Inc. | ||||||||
| 8.000%, due 3/15/26 | 718,000 | 705,070 | ||||||
| Encompass Health Corp. | ||||||||
| 4.750%, due 2/1/30 | 321,000 | 291,768 | ||||||
| 5.750%, due 9/15/25 | 219,000 | 218,421 | ||||||
| IQVIA, Inc. | ||||||||
| 5.000%, due 5/15/27 | 96,000 | 92,573 | ||||||
| Tenet Healthcare Corp. | ||||||||
| 4.250%, due 6/1/29 | 397,000 | 355,728 | ||||||
| 4.625%, due 6/15/28 | 454,000 | 420,144 | ||||||
| 6.125%, due 6/15/30 | 436,000 | 423,683 | ||||||
| 3,920,704 | ||||||||
| Home Builders — 0.5% | ||||||||
| Lgi Homes, Inc. | ||||||||
| 4.000%, due 7/15/29 | 250,000 | 210,026 | ||||||
| Meritage Homes Corp. | ||||||||
| 3.875%, due 4/15/29 | 86,000 | 76,902 | ||||||
| Thor Industries, Inc. | ||||||||
| 4.000%, due 10/15/29 | 47,000 | 40,374 | ||||||
| Tri Pointe Homes, Inc. | ||||||||
| 5.700%, due 6/15/28 | 79,000 | 75,840 | ||||||
| 403,142 | ||||||||
| Housewares — 0.7% | ||||||||
| CD&R Smokey Buyer, Inc. | ||||||||
| 6.750%, due 7/15/25 | 363,000 | 341,227 | ||||||
| Newell Brands, Inc. | ||||||||
| 6.375%, due 9/15/27 | 268,000 | 263,645 | ||||||
| 604,872 | ||||||||
| Insurance — 0.3% | ||||||||
| Global Atlantic Fin Co. | ||||||||
| 4.700%, (5 Year US CMT T-Note + 3.80%), due 10/15/51(b) | 48,000 | 34,537 | ||||||
| Nmi Holdings, Inc. | ||||||||
| 7.375%, due 6/1/25 | 202,000 | 203,984 | ||||||
| 238,521 | ||||||||
| Internet — 2.3% | ||||||||
| Arches Buyer, Inc. | ||||||||
| 6.125%, due 12/1/28 | 640,000 | 551,200 | ||||||
| Cogent Communications Group, Inc. | ||||||||
| 3.500%, due 5/1/26 | 85,000 | 78,826 | ||||||
| Go Daddy Operating Co. LLC / GD Finance Co., Inc. | ||||||||
| 3.500%, due 3/1/29 | 295,000 | 253,670 | ||||||
| Principal Amount | Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Internet (continued) | ||||||||
| Match Group Holdings II LLC | ||||||||
| 4.125%, due 8/1/30 | $ | 360,000 | $ | 310,662 | ||||
| 5.625%, due 2/15/29 | 224,000 | 212,841 | ||||||
| Newfold Digital Holdings Group, Inc. | ||||||||
| 6.000%, due 2/15/29 | 156,000 | 115,050 | ||||||
| Uber Technologies, Inc. | ||||||||
| 4.500%, due 8/15/29 | 518,000 | 478,770 | ||||||
| 2,001,019 | ||||||||
| Investment Companies — 0.1% | ||||||||
| Icahn Enterprises LP / Icahn Enterprises Finance Corp. | ||||||||
| 6.250%, due 5/15/26 | 90,000 | 84,370 | ||||||
| Leisure Time — 4.4% | ||||||||
| Carnival Corp. | ||||||||
| 5.750%, due 3/1/27 | 514,000 | 475,455 | ||||||
| 6.000%, due 5/1/29 | 455,000 | 408,995 | ||||||
| Carnival Holdings Bermuda Ltd. | ||||||||
| 10.375%, due 5/1/28 | 410,000 | 447,371 | ||||||
| NCL Corp Ltd. | ||||||||
| 5.875%, due 3/15/26 | 382,000 | 361,471 | ||||||
| NCL Corp. Ltd. | ||||||||
| 8.375%, due 2/1/28 | 305,000 | 317,971 | ||||||
| NCL Finance Ltd. | ||||||||
| 6.125%, due 3/15/28 | 373,000 | 339,430 | ||||||
| Royal Caribbean Cruises Ltd. | ||||||||
| 5.375%, due 7/15/27 | 333,000 | 316,624 | ||||||
| 8.250%, due 1/15/29 | 290,000 | 302,873 | ||||||
| 9.250%, due 1/15/29 | 410,000 | 436,498 | ||||||
| Viking Cruises Ltd. | ||||||||
| 5.875%, due 9/15/27 | 170,000 | 158,965 | ||||||
| 9.125%, due 7/15/31 | 200,000 | 205,640 | ||||||
| 3,771,293 | ||||||||
| Lodging — 0.9% | ||||||||
| Boyd Gaming Corp. | ||||||||
| 4.750%, due 12/1/27 | 317,000 | 298,545 | ||||||
| Hilton Domestic Operating Co., Inc. | ||||||||
| 4.000%, due 5/1/31 | 532,000 | 464,041 | ||||||
| 762,586 | ||||||||
| Machinery-Diversified — 0.3% | ||||||||
| Chart Industries, Inc. | ||||||||
| 7.500%, due 1/1/30 | 24,000 | 24,596 | ||||||
| GrafTech Global Enterprises, Inc. | ||||||||
| 9.875%, due 12/15/28 | 200,000 | 203,156 | ||||||
| 227,752 | ||||||||
| Media — 7.3% | ||||||||
| Cable One, Inc. | ||||||||
| 4.000%, due 11/15/30 | 301,000 | 237,790 | ||||||
| CCO Holdings LLC / CCO Holdings Capital Corp. | ||||||||
| 4.250%, due 2/1/31 | 374,000 | 307,463 | ||||||
| 4.250%, due 1/15/34 | 371,000 | 285,158 | ||||||
| 4.500%, due 8/15/30 | 306,000 | 259,273 | ||||||
| 4.500%, due 5/1/32 | 485,000 | 395,451 | ||||||
| 4.750%, due 3/1/30 | 900,000 | 780,090 | ||||||
| 6.375%, due 9/1/29 | 255,000 | 243,826 | ||||||
| CSC Holdings LLC | ||||||||
| 4.625%, due 12/1/30 | 679,000 | 341,099 | ||||||
| 5.250%, due 6/1/24 | 150,000 | 139,834 | ||||||
| 5.750%, due 1/15/30 | 510,000 | 264,015 | ||||||
| 11.250%, due 5/15/28 | 410,000 | 405,388 | ||||||
Schedule of Investments ─ IQ MacKay ESG High Income ETF (continued)
July 31, 2023 (unaudited)
| Principal Amount | Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Media (continued) | ||||||||
| Directv Financing LLC / Directv Financing Co-Obligor, Inc. | ||||||||
| 5.875%, due 8/15/27 | $ | 667,000 | $ | 602,117 | ||||
| Dish DBS Corp. | ||||||||
| 5.750%, due 12/1/28 | 75,000 | 57,714 | ||||||
| DISH Network Corp. | ||||||||
| 11.750%, due 11/15/27 | 170,000 | 171,118 | ||||||
| iHeartCommunications, Inc. | ||||||||
| 6.375%, due 5/1/26 | 445,000 | 384,614 | ||||||
| Nexstar Media, Inc. | ||||||||
| 4.750%, due 11/1/28 | 436,000 | 384,257 | ||||||
| 5.625%, due 7/15/27 | 162,000 | 152,298 | ||||||
| Sirius XM Radio, Inc. | ||||||||
| 3.875%, due 9/1/31 | 84,000 | 65,769 | ||||||
| 4.000%, due 7/15/28 | 382,000 | 332,371 | ||||||
| 4.125%, due 7/1/30 | 90,000 | 74,121 | ||||||
| TEGNA, Inc. | ||||||||
| 4.625%, due 3/15/28 | 95,000 | 85,025 | ||||||
| Univision Communications, Inc. | ||||||||
| 4.500%, due 5/1/29 | 369,000 | 319,287 | ||||||
| 6,288,078 | ||||||||
| Mining — 1.0% | ||||||||
| Arsenal AIC Parent LLC | ||||||||
| 8.000%, due 10/1/30 | 155,000 | 158,100 | ||||||
| Novelis Corp. | ||||||||
| 3.250%, due 11/15/26 | 102,000 | 92,685 | ||||||
| 3.875%, due 8/15/31 | 138,000 | 114,913 | ||||||
| 4.750%, due 1/30/30 | 523,000 | 470,051 | ||||||
| 835,749 | ||||||||
| Miscellaneous Manufacturing — 0.5% | ||||||||
| Gates Global LLC / Gates Corp. | ||||||||
| 6.250%, due 1/15/26 | 445,000 | 439,458 | ||||||
| Office/Business Equipment — 1.0% | ||||||||
| Xerox Corp. | ||||||||
| 3.800%, due 5/15/24 | 397,000 | 389,095 | ||||||
| Xerox Holdings Corp. | ||||||||
| 5.500%, due 8/15/28 | 542,000 | 475,645 | ||||||
| 864,740 | ||||||||
| Oil & Gas — 5.3% | ||||||||
| Aethon United Br LP / Aethon United Finance Corp. | ||||||||
| 8.250%, due 2/15/26 | 367,000 | 364,211 | ||||||
| Ascent Resources Utica Holdings LLC / ARU Finance Corp. | ||||||||
| 7.000%, due 11/1/26 | 495,000 | 484,121 | ||||||
| Callon Petroleum Co. | ||||||||
| 6.375%, due 7/1/26 | 487,000 | 477,176 | ||||||
| 7.500%, due 6/15/30 | 103,000 | 99,994 | ||||||
| 8.000%, due 8/1/28 | 81,000 | 82,128 | ||||||
| CNX Resources Corp. | ||||||||
| 6.000%, due 1/15/29 | 88,000 | 82,309 | ||||||
| 7.250%, due 3/14/27 | 212,000 | 211,411 | ||||||
| Hilcorp Energy I LP / Hilcorp Finance Co. | ||||||||
| 5.750%, due 2/1/29 | 410,000 | 379,250 | ||||||
| 6.000%, due 2/1/31 | 290,000 | 262,621 | ||||||
| Moss Creek Resources Holdings, Inc. | ||||||||
| 7.500%, due 1/15/26 | 442,000 | 412,814 | ||||||
| Occidental Petroleum Corp. | ||||||||
| 7.500%, due 5/1/31 | 81,000 | 88,938 | ||||||
| 8.875%, due 7/15/30 | 112,000 | 129,754 | ||||||
| Range Resources Corp. | ||||||||
| 4.750%, due 2/15/30 | 76,000 | 69,852 | ||||||
| Principal Amount | Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Oil & Gas (continued) | ||||||||
| Southwestern Energy Co. | ||||||||
| 4.750%, due 2/1/32 | $ | 250,000 | $ | 222,134 | ||||
| 5.375%, due 3/15/30 | 304,000 | 284,434 | ||||||
| Sunoco LP / Sunoco Finance Corp. | ||||||||
| 5.875%, due 3/15/28 | 312,000 | 303,455 | ||||||
| Transocean Titan Financing Ltd. | ||||||||
| 8.375%, due 2/1/28 | 45,000 | 46,463 | ||||||
| Vital Energy, Inc. | ||||||||
| 7.750%, due 7/31/29 | 641,000 | 548,055 | ||||||
| 4,549,120 | ||||||||
| Oil & Gas Services — 1.4% | ||||||||
| Archrock Partners LP / Archrock Partners Finance Corp. | ||||||||
| 6.250%, due 4/1/28 | 127,000 | 119,697 | ||||||
| 6.875%, due 4/1/27 | 567,000 | 552,819 | ||||||
| USA Compression Partners LP / USA Compression Finance Corp. | ||||||||
| 6.875%, due 4/1/26 | 112,000 | 110,992 | ||||||
| 6.875%, due 9/1/27 | 443,000 | 426,747 | ||||||
| 1,210,255 | ||||||||
| Packaging & Containers — 1.1% | ||||||||
| Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. | ||||||||
| 4.125%, due 8/15/26 | 95,000 | 88,993 | ||||||
| 5.250%, due 8/15/27 | 615,000 | 527,827 | ||||||
| Ball Corp. | ||||||||
| 6.875%, due 3/15/28 | 97,000 | 99,236 | ||||||
| Mauser Packaging Solutions Holding Co. | ||||||||
| 9.250%, due 4/15/27 | 146,000 | 135,641 | ||||||
| Owens-Brockway Glass Container, Inc. | ||||||||
| 6.375%, due 8/15/25 | 75,000 | 74,966 | ||||||
| Sealed Air Corp/Sealed Air Corp US | ||||||||
| 6.125%, due 2/1/28 | 25,000 | 24,888 | ||||||
| 951,551 | ||||||||
| Pharmaceuticals — 0.5% | ||||||||
| Elanco Animal Health, Inc. | ||||||||
| 6.650%, due 8/28/28 | 413,000 | 407,536 | ||||||
| PRA Health Sciences, Inc. | ||||||||
| 2.875%, due 7/15/26 | 63,000 | 57,962 | ||||||
| 465,498 | ||||||||
| Pipelines — 3.4% | ||||||||
| CNX Midstream Partners LP | ||||||||
| 4.750%, due 4/15/30 | 340,000 | 294,698 | ||||||
| EnLink Midstream LLC | ||||||||
| 5.625%, due 1/15/28 | 265,000 | 259,066 | ||||||
| Eqm Midstream Partners LP | ||||||||
| 7.500%, due 6/1/30 | 445,000 | 458,888 | ||||||
| EQM Midstream Partners LP | ||||||||
| 4.750%, due 1/15/31 | 501,000 | 447,294 | ||||||
| 5.500%, due 7/15/28 | 309,000 | 297,311 | ||||||
| Genesis Energy LP / Genesis Energy Finance Corp. | ||||||||
| 7.750%, due 2/1/28 | 661,000 | 642,849 | ||||||
| Venture Global Calcasieu Pass LLC | ||||||||
| 3.875%, due 8/15/29 | 447,000 | 387,061 | ||||||
| 6.250%, due 1/15/30 | 60,000 | 58,669 | ||||||
| Venture Global LNG, Inc. | ||||||||
| 8.375%, due 6/1/31 | 100,000 | 101,472 | ||||||
| 2,947,308 | ||||||||
| REITS — 3.3% | ||||||||
| Iron Mountain Information Management Services, Inc. | ||||||||
| 5.000%, due 7/15/32 | 95,000 | 82,212 | ||||||
Schedule of Investments ─ IQ MacKay ESG High Income ETF (continued)
July 31, 2023 (unaudited)
| Principal Amount | Value | |||||||
| Corporate Bonds (continued) | ||||||||
| REITS (continued) | ||||||||
| Iron Mountain, Inc. | ||||||||
| 4.500%, due 2/15/31 | $ | 273,000 | $ | 235,357 | ||||
| 5.250%, due 7/15/30 | 355,000 | 320,920 | ||||||
| 5.625%, due 7/15/32 | 293,000 | 263,965 | ||||||
| Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | ||||||||
| 4.875%, due 5/15/29 | 337,000 | 294,454 | ||||||
| RHP Hotel Properties LP / RHP Finance Corp. | ||||||||
| 7.250%, due 7/15/28 | 175,000 | 177,630 | ||||||
| SBA Communications Corp. | ||||||||
| 3.125%, due 2/1/29 | 404,000 | 340,612 | ||||||
| 3.875%, due 2/15/27 | 205,000 | 188,860 | ||||||
| Service Properties Trust | ||||||||
| 7.500%, due 9/15/25 | 293,000 | 289,587 | ||||||
| Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC | ||||||||
| 10.500%, due 2/15/28 | 497,000 | 494,028 | ||||||
| VICI Properties LP / VICI Note Co., Inc. | ||||||||
| 4.250%, due 12/1/26 | 40,000 | 37,679 | ||||||
| XHR LP | ||||||||
| 4.875%, due 6/1/29 | 84,000 | 73,072 | ||||||
| 2,798,376 | ||||||||
| Retail — 4.6% | ||||||||
| Arko Corp. | ||||||||
| 5.125%, due 11/15/29 | 62,000 | 51,540 | ||||||
| Asbury Automotive Group, Inc. | ||||||||
| 4.750%, due 3/1/30 | 391,000 | 345,315 | ||||||
| Bath & Body Works, Inc. | ||||||||
| 6.950%, due 3/1/33 | 192,000 | 173,733 | ||||||
| Ferrellgas LP / Ferrellgas Finance Corp. | ||||||||
| 5.875%, due 4/1/29 | 450,000 | 387,000 | ||||||
| Foot Locker, Inc. | ||||||||
| 4.000%, due 10/1/29 | 169,000 | 131,389 | ||||||
| Foundation Building Materials, Inc. | ||||||||
| 6.000%, due 3/1/29 | 80,000 | 69,289 | ||||||
| Group 1 Automotive, Inc. | ||||||||
| 4.000%, due 8/15/28 | 382,000 | 338,278 | ||||||
| IRB Holding Corp. | ||||||||
| 7.000%, due 6/15/25 | 168,000 | 168,840 | ||||||
| Lcm Investments Holdings II LLC | ||||||||
| 8.250%, due 8/1/31 | 110,000 | 111,744 | ||||||
| Lithia Motors, Inc. | ||||||||
| 3.875%, due 6/1/29 | 35,000 | 30,140 | ||||||
| 4.375%, due 1/15/31 | 384,000 | 330,067 | ||||||
| Macy’s Retail Holdings LLC | ||||||||
| 6.125%, due 3/15/32 | 139,000 | 124,049 | ||||||
| Michaels Cos., Inc. (The) | ||||||||
| 5.250%, due 5/1/28 | 60,000 | 51,002 | ||||||
| 7.875%, due 5/1/29 | 84,000 | 59,850 | ||||||
| Nordstrom, Inc. | ||||||||
| 4.375%, due 4/1/30 | 103,000 | 86,882 | ||||||
| QVC, Inc. | ||||||||
| 4.850%, due 4/1/24 | 306,000 | 290,386 | ||||||
| Sonic Automotive, Inc. | ||||||||
| 4.625%, due 11/15/29 | 352,000 | 301,571 | ||||||
| 4.875%, due 11/15/31 | 123,000 | 102,110 | ||||||
| SRS Distribution, Inc. | ||||||||
| 6.000%, due 12/1/29 | 200,000 | 173,500 | ||||||
| White Cap Buyer LLC | ||||||||
| 6.875%, due 10/15/28 | 30,000 | 27,027 | ||||||
| Yum! Brands, Inc. | ||||||||
| 4.625%, due 1/31/32 | 316,000 | 286,254 | ||||||
| Principal Amount | Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Retail (continued) | ||||||||
| 5.375%, due 4/1/32 | $ | 304,000 | $ | 287,765 | ||||
| 3,927,731 | ||||||||
| Software — 1.7% | ||||||||
| Cloud Software Group, Inc. | ||||||||
| 6.500%, due 3/31/29 | 486,000 | 437,418 | ||||||
| MSCI, Inc. | ||||||||
| 4.000%, due 11/15/29 | 666,000 | 606,058 | ||||||
| PTC, Inc. | ||||||||
| 3.625%, due 2/15/25 | 157,000 | 151,682 | ||||||
| 4.000%, due 2/15/28 | 298,000 | 273,484 | ||||||
| 1,468,642 | ||||||||
| Telecommunications — 1.3% | ||||||||
| Commscope, Inc. | ||||||||
| 8.250%, due 3/1/27 | 162,000 | 122,638 | ||||||
| CommScope, Inc. | ||||||||
| 4.750%, due 9/1/29 | 605,000 | 466,084 | ||||||
| Level 3 Financing, Inc. | ||||||||
| 3.400%, due 3/1/27 | 137,000 | 120,834 | ||||||
| 3.750%, due 7/15/29 | 404,000 | 264,895 | ||||||
| 10.500%, due 5/15/30 | 110,000 | 113,945 | ||||||
| Viavi Solutions, Inc. | ||||||||
| 3.750%, due 10/1/29 | 23,000 | 19,737 | ||||||
| 1,108,133 | ||||||||
| Transportation — 0.7% | ||||||||
| First Student Bidco, Inc. / First Transit Parent, Inc. | ||||||||
| 4.000%, due 7/31/29 | 438,000 | 371,146 | ||||||
| Xpo, Inc. | ||||||||
| 7.125%, due 6/1/31 | 213,000 | 215,531 | ||||||
| 586,677 | ||||||||
| Total Corporate Bonds | ||||||||
| (Cost $69,440,765) | 70,552,180 | |||||||
| Foreign Bonds — 15.6% | ||||||||
| Aerospace & Defense — 1.5% | ||||||||
| Bombardier, Inc., (Canada) | ||||||||
| 6.000%, due 2/15/28 | 166,000 | 156,072 | ||||||
| 7.500%, due 2/1/29 | 660,000 | 653,879 | ||||||
| 7.875%, due 4/15/27 | 504,000 | 502,395 | ||||||
| 1,312,346 | ||||||||
| Airlines — 0.9% | ||||||||
| Air Canada, (Canada) | ||||||||
| 3.875%, due 8/15/26 | 345,000 | 320,146 | ||||||
| Air Canada 2020-1 Class C Pass-Through Trust, (Canada) | ||||||||
| C10.500%, due 7/15/26 | 455,000 | 493,116 | ||||||
| 813,262 | ||||||||
| Banks — 1.4% | ||||||||
| Intesa Sanpaolo SpA, (Italy) | ||||||||
| 5.017%, due 6/26/24 | 213,000 | 208,111 | ||||||
| 5.710%, due 1/15/26 | 373,000 | 360,102 | ||||||
| UniCredit SpA, (Italy) | ||||||||
| 7.296%, (USD 5 Year Swap + 4.91%), due 4/2/34(b) | 668,000 | 648,234 | ||||||
| 1,216,447 | ||||||||
| Beverages — 0.4% | ||||||||
| Primo Water Holdings, Inc., (Canada) | ||||||||
| 4.375%, due 4/30/29 | 422,000 | 370,533 | ||||||
| Chemicals — 1.6% | ||||||||
| Ineos Finance PLC, (Luxembourg) | ||||||||
| 6.750%, due 5/15/28 | 343,000 | 327,205 | ||||||
Schedule of Investments ─ IQ MacKay ESG High Income ETF (continued)
July 31, 2023 (unaudited)
| Principal Amount | Value | |||||||
| Foreign Bonds (continued) | ||||||||
| Chemicals (continued) | ||||||||
| INEOS Quattro Finance 2 PLC, (United Kingdom) | ||||||||
| 3.375%, due 1/15/26 | $ | 317,000 | $ | 288,293 | ||||
| SPCM SA, (France) | ||||||||
| 3.125%, due 3/15/27 | 804,000 | 721,198 | ||||||
| 1,336,696 | ||||||||
| Commercial Services — 0.8% | ||||||||
| Garda World Security Corp., (Canada) | ||||||||
| 4.625%, due 2/15/27 | 480,000 | 443,361 | ||||||
| 9.500%, due 11/1/27 | 258,000 | 252,545 | ||||||
| 695,906 | ||||||||
| Distribution/Wholesale — 0.0%(a) | ||||||||
| Ritchie Bros Holdings, Inc., (Canada) | ||||||||
| 7.750%, due 3/15/31 | 15,000 | 15,633 | ||||||
| Forest Products & Paper — 0.4% | ||||||||
| Ahlstrom Holding 3 Oy, (Finland) | ||||||||
| 4.875%, due 2/4/28 | 383,000 | 317,547 | ||||||
| Home Builders — 0.3% | ||||||||
| Mattamy Group Corp., (Canada) | ||||||||
| 5.250%, due 12/15/27 | 238,000 | 225,050 | ||||||
| Household Products/Wares — 0.9% | ||||||||
| Kronos Acquisition Holdings, Inc. / KIk Custom Products, Inc., (Canada) | ||||||||
| 7.000%, due 12/31/27 | 420,000 | 369,692 | ||||||
| Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc., (Canada) | ||||||||
| 5.000%, due 12/31/26 | 435,000 | 404,550 | ||||||
| 774,242 | ||||||||
| Machinery-Diversified — 0.6% | ||||||||
| Husky III Holding Ltd., (Canada) | ||||||||
| 13.000%, due 2/15/25 | 345,000 | 320,850 | ||||||
| TK Elevator US Newco, Inc., (Germany) | ||||||||
| 5.250%, due 7/15/27 | 178,000 | 166,457 | ||||||
| 487,307 | ||||||||
| Media — 1.9% | ||||||||
| Altice Financing SA, (Luxembourg) | ||||||||
| 5.000%, due 1/15/28 | 57,000 | 44,230 | ||||||
| 5.750%, due 8/15/29 | 97,000 | 72,742 | ||||||
| UPC Broadband Finco BV, (Netherlands) | ||||||||
| 4.875%, due 7/15/31 | 344,000 | 288,906 | ||||||
| Virgin Media Finance PLC, (United Kingdom) | ||||||||
| 5.000%, due 7/15/30 | 98,000 | 80,414 | ||||||
| Virgin Media Secured Finance PLC, (United Kingdom) | ||||||||
| 5.500%, due 5/15/29 | 465,000 | 429,281 | ||||||
| Virgin Media Vendor Financing Notes IV DAC, (United Kingdom) | ||||||||
| 5.000%, due 7/15/28 | 79,000 | 69,523 | ||||||
| VZ Secured Financing BV, (Netherlands) | ||||||||
| 5.000%, due 1/15/32 | 359,000 | 291,731 | ||||||
| Ziggo Bond Co. BV, (Netherlands) | ||||||||
| 5.125%, due 2/28/30 | 83,000 | 65,570 | ||||||
| Ziggo BV, (Netherlands) | ||||||||
| 4.875%, due 1/15/30 | 331,000 | 280,275 | ||||||
| 1,622,672 | ||||||||
| Principal Amount | Value | |||||||
| Foreign Bonds (continued) | ||||||||
| Pharmaceuticals — 0.6% | ||||||||
| Teva Pharmaceutical Finance Netherlands III BV, (Israel) | ||||||||
| 5.125%, due 5/9/29 | $ | 580,000 | $ | 531,425 | ||||
| Retail — 1.0% | ||||||||
| 1011778 BC ULC / New Red Finance, Inc., (Canada) | ||||||||
| 3.500%, due 2/15/29 | 311,000 | 273,297 | ||||||
| 4.000%, due 10/15/30 | 662,000 | 568,891 | ||||||
| 842,188 | ||||||||
| Software — 0.6% | ||||||||
| Open Text Corp., (Canada) | ||||||||
| 3.875%, due 12/1/29 | 569,000 | 481,309 | ||||||
| Telecommunications — 2.7% | ||||||||
| Altice France Holding SA, (Luxembourg) | ||||||||
| 10.500%, due 5/15/27 | 88,000 | 37,237 | ||||||
| Altice France SA, (France) | ||||||||
| 5.125%, due 7/15/29 | 68,000 | 47,622 | ||||||
| 8.125%, due 2/1/27 | 641,000 | 524,326 | ||||||
| Iliad Holding SASU, (France) | ||||||||
| 6.500%, due 10/15/26 | 495,000 | 474,389 | ||||||
| 7.000%, due 10/15/28 | 150,000 | 140,826 | ||||||
| Telecom Italia Capital SA, (Italy) | ||||||||
| 7.721%, due 6/4/38 | 232,000 | 206,205 | ||||||
| Vmed O2 UK Financing I PLC, (United Kingdom) | ||||||||
| 4.750%, due 7/15/31 | 454,000 | 383,230 | ||||||
| Vodafone Group PLC, (United Kingdom) | ||||||||
| 7.000%, (USD 5 Year Swap + 4.87%), due 4/4/79(b) | 493,000 | 506,807 | ||||||
| 2,320,642 | ||||||||
| Total Foreign Bonds | ||||||||
| (Cost $13,269,651) | 13,363,205 | |||||||
| Shares | ||||||||
| Short-Term Investment — 0.7% | ||||||||
| Money Market Fund — 0.7% | ||||||||
| BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 5.16%(c) | ||||||||
| (Cost $600,977) | 600,977 | 600,977 | ||||||
| Total Investments — 98.5% | ||||||||
| (Cost $83,311,393) | 84,516,362 | |||||||
| Other Assets and Liabilities, Net — 1.5% | 1,307,960 | |||||||
| Net Assets — 100.0% | $ | 85,824,322 | ||||||
| (a) | Less than 0.05%. |
| (b) | Variable rate securities that may be tendered back to the issuer at any time prior to maturity at par. Rate shown is the rate in effect as of July 31, 2023. |
| (c) | Reflects the 7-day yield at July 31, 2023. |
| Abbreviations | |
| CMT | - Constant Maturity Treasury Index |
| SOFR | - Secured Financing Overnight Rate |
Schedule of Investments ─ IQ MacKay ESG High Income ETF (continued)
July 31, 2023 (unaudited)
| The following is a summary of the inputs used to value the Fund’s investments as of July 31, 2023. 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:(d) | ||||||||||||||||
| Corporate Bonds | $ | — | $ | 70,552,180 | $ | — | $ | 70,552,180 | ||||||||
| Foreign Bonds | — | 13,363,205 | — | 13,363,205 | ||||||||||||
| Short-Term Investment: | ||||||||||||||||
| Money Market Fund | 600,977 | – | — | 600,977 | ||||||||||||
| Total Investments in Securities | $ | 600,977 | $ | 83,915,385 | $ | — | $ | 84,516,362 | ||||||||
| (d) | For a complete listing of investments and their states, see the Schedule of Investments. |
For the period ended July 31, 2023 the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy.