Fund Description: IQ Hedge Macro Tracker ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the IndexIQ ETF Trust, an investment management company. INVESTMENT OBJECTIVE: IQ Hedge Macro Tracker ETF seeks investment results that correspond, before fees and expenses, generally to the price and yield performance of the IQ Hedge Macro Index. INDEX DESCRIPTION: The IQ Hedge Macro Index's objective is to replicate the risk-adjusted return characteristics of hedge funds employing a macro strategy. The Index has a particular focus on emerging markets. The Strategy typically employs top-down macro analysis (e.g., political trends, macro economics, etc.) to identify dislocations in equity, fixed-income, currency and commodity markets that are expected to lead to large price movements. The Index components of this strategy generally provide exposures to: U.S. small-cap equity; emerging market equity, debt and sovereign debt; U.S. and foreign investment grade debt; U.S. government short- and intermediate-term maturity obligations; foreign sovereign debt; foreign currencies and currency futures; real estate investment trusts; and commodities. FUND STRATEGY: The Fund employs a passive management or indexing investment approach designed to track the performance of the Index. The Fund invests primarily in the components that make up the Index. The Fund invests, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the investments included in its Index. In addition, the Fund may invest up to 20% of its net assets in investments not included in its Index. The Fund may also invest in money market instruments, including short-term debt instruments and repurchase agreements or other funds which invest exclusively in money market instruments rather than Index Components, when it would be more efficient or less expensive for the Fund to do so, or as cover for outstanding Financial Instruments exposure, for liquidity purposes, or to earn interest. A Fund may invest directly, or indirectly through ETFs, in foreign companies, including companies in emerging markets, to the extent that the Index Components directly or indirectly include such companies. Similarly, the Funds may also invest directly, or indirectly through ETFs, in U.S. companies of any market capitalization to the extent the Index is exposed to them. Swaps may be used by the Fund to seek performance that corresponds to its Index and to manage cash flows. FUND MANAGEMENT: The Board of Trustees of the IndexIQ ETF Trust is responsible for the general supervision of the Fund and appoints officers who are responsible for the day-to-day operations of the Fund. IndexIQ Advisors LLC is the investment advisor to the Fund.