TABLE OF CONTENTS
IndexIQ ETF Trust
Semi-Annual Report
October 31, 2021
IQ Hedge Multi-Strategy Tracker ETF (QAI) IQ 50 Percent Hedged FTSE International ETF (HFXI)
IQ Hedge Macro Tracker ETF (MCRO) IQ Chaikin U.S. Large Cap ETF (CLRG)
IQ Hedge Market Neutral Tracker ETF (QMN) IQ Chaikin U.S. Small Cap ETF (CSML)
IQ Hedge Long/Short Tracker ETF (QLS) IQ 500 International ETF (IQIN)
IQ Hedge Event-Driven Tracker ETF (QED) IQ Candriam ESG U.S. Equity ETF (IQSU)
IQ Real Return ETF (CPI) IQ Candriam ESG International Equity ETF (IQSI)
IQ S&P High Yield Low Volatility Bond ETF (HYLV) IQ Healthy Hearts ETF (HART)
IQ Merger Arbitrage ETF (MNA) IQ Engender Equality ETF (EQUL)
IQ Global Resources ETF (GRES) IQ Cleaner Transport ETF (CLNR)
IQ U.S. Real Estate Small Cap ETF (ROOF) IQ Clean Oceans ETF (OCEN)
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Funds’ shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from your financial intermediary, such as a broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. If you hold accounts through a financial intermediary, you may contact your financial intermediary to enroll in electronic delivery. Please note that not all financial intermediaries may offer this service.
You may elect to receive all future reports in paper free of charge. If you hold accounts through a financial intermediary, you can contact your financial intermediary to request that you continue to receive paper copies of your shareholder reports. Your election to receive reports in paper will apply to all funds held with your financial intermediary.
Not FDIC Insured | May Lose Value | No Bank Guarantee
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TABLE OF CONTENTS
The investment return and value of each of the Funds’ shares will fluctuate so that an investor’s shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Consider the Funds’ investment objectives, risks, charges and expenses carefully before investing. The prospectus and the statement of additional information include this and other relevant information about the Funds and are available by visiting newyorklifeinvestments.com or by calling 1-888-474-7725. Read the prospectus carefully before investing.
Each of the Funds’ performance that is current to the most recent month-end is available by visiting newyorklifeinvestments.com or by calling 1-888-474-7725.
Availability of Proxy Voting Policies and Proxy Voting Records
You may obtain a description of the IndexIQ ETF Trust proxy voting policies, procedures and information regarding how each Fund voted proxies relating to portfolio securities during the 12-month period ending June 30 (available by August 31) without charge, upon request, by calling 1-888-474-7725 or by accessing the SEC’s website at sec.gov.
Availability of Quarterly Schedule of Investments
The Funds file their complete schedules of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-PORT. The Funds’ Forms N-PORT are available on the Commission’s website at sec.gov. Additionally, the Funds' makes its portfolio holdings for the first and third quarters of each fiscal year available at newyorklifeinvestments.com\documents. Each Funds’ premium/discount information is available, free of charge, on the Funds’ website newyorklifeinvestments.com or by calling 1-888-474-7725.
Electronic Delivery
Receive email notifications when your most recent shareholder communications are available for review. Access prospectuses, annual reports and semi-annual reports online.
To enroll:
Visit https://www.fundreports.com
If you have questions about IndexIQ e-Delivery services, contact a representative at 1-888-474-7725.
IndexIQ® and IQ® are registered service marks of New York Life Insurance Company.
"New York Life Investments" is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company. IndexIQ® is the indirect wholly owned subsidiary of New York Life Investment Management Holdings LLC and serves as the advisor to the IndexIQ ETFs. ALPS Distributors, Inc. (ALPS) is the principal underwriter of the ETFs, and NYLIFE Distributors LLC is a distributor of the ETFs. NYLIFE Distributors LLC is located at 30 Hudson Street, Jersey City, NJ 07302. ALPS Distributors, Inc. is not affiliated with NYLIFE Distributors LLC. NYLIFE Distributors LLC is a Member FINRA/SIPC.
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Table of Contents  
4
5
8
Schedules of Investments
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31
34
36
38
46
49
53
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66
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TABLE OF CONTENTS
Shareholder Letter (unaudited)
Message from the President
The equity and fixed-income markets continued to benefit from the re-opening of the economy during the six-month reporting period ended October 31, 2021, but inflation and other concerns agitated the markets at times, including uncertainty about the Federal Reserve’s (“Fed”) policy, the re-emergence of COVID-19 and political standoffs in Washington. While stock markets posted solid returns, gains in the bond market were marginal.
Mindful of the Fed’s more tolerant stance on inflation and of the large fiscal spending response to the pandemic, investors grew increasingly concerned about inflation. The Delta variant of COVID-19, supply chain bottlenecks and labor shortages brought the pace of the economic recovery into question at times, but pricing pressures predominated during the reporting period.
Energy prices continued to rebound from a low point at the height of the pandemic in 2020, and shortages in various sectors, including semiconductors and construction supplies, resulted in rising prices in some industries. An anticipated $1+ trillion infrastructure spending bill added to inflation concerns.
Already over a 4% annualized rate at the start of the reporting period, the Consumer Price Index (“CPI”) rose above 5% and remained there through September. In October, the CPI hit a 6.2% annualized rate, a 30-year high.
In September, the Fed increased its forecast for inflation in 2021 from 3.4% to 4.2% and its forecast for 2022 from 2.1% to 2.2%. After the reporting period, Fed officials announced that a reduction in the Fed’s bond purchasing program would begin in November 2021.
In fixed-income markets, issues of longer-term Treasury bonds recovered from the sell-off that occurred earlier in the year. Investment grade corporate bonds rebounded early as the economic outlook remained positive, but persistent pricing pressures and uncertainty about when the Fed would reduce its bond-purchasing program took a toll. High-yield bonds remained steadier through the reporting period, supported by more attractive yields and the outlook for economic growth.
In the municipal market, healthy fundamentals, $350 billion in financial support from the federal government, and the prospect of an increase in federal income tax rates on corporations and higher-earning households provided some support. But intermittent fears about the effect of the Delta variant of COVID-19, inflation concerns and an anticipated rise in Treasury yields weighed on the market.
In equity markets, the shift from growth stocks to value stocks that occurred earlier in 2021 reversed as concerns about the pace of the economic recovery arose with the emergence of the Delta variant. Growth stocks easily outperformed value stocks during the reporting period.
The performance of individual sectors within the S&P 500® Index, a widely regarded benchmark of market performance, varied widely, with the energy, information technology and consumer discretionary sectors leading and the utilities, industrials and communication services sectors lagging. Foreign developed markets posted strong returns but underperformed the U.S. market somewhat. Emerging markets declined as a lagging economic and pandemic recovery continued to hinder performance.
In light of higher inflation and rising interest rates, we at New York Life Investments are focused on providing investors with the products and insights they may need to meet the challenge of a changing market environment.
The following semiannual report contains more detailed information about the specific markets, securities and decisions that affected your IndexIQ ETF during the six months ended October 31, 2021.
Sincerely,
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Kirk C. Lehneis
President
The opinions expressed are as of the date of this report and are subject to change. There is no guarantee that any forecast made will come to pass. This material does not constitute investment advice and is not intended as an endorsement of any specific investment. Past performance is no guarantee of future results.
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TABLE OF CONTENTS
Fund Expenses (unaudited)
As a shareholder of a fund, you incur two types of costs: (1) transaction costs on purchases and sales and (2) ongoing costs, including Advisory fees and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other funds. Shareholders may pay brokerage commissions on their purchase and sale of the Fund, which are not reflected in the example.
The examples are based on an investment of  $1,000 invested at the beginning of the period and held for the entire period as indicated below.
Actual Expenses
The first line of the table below provides information about actual account values and actual expenses. You may use the information together with the amount you invested, in a particular fund, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid During the Period 05/01/2021 to 10/31/2021” to estimate the expenses you paid on your account during this period. Each Fund will indirectly bear its pro rata share of the expenses incurred by the underlying funds in which each Fund invests. These expenses are not included in the table.
Hypothetical Example for Comparison Purposes
The second line of the table below also provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed annual rate of return of 5% before expenses, which are not the Funds’ actual returns. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in a fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds. The Funds will indirectly bear their pro rata share of the expenses incurred by the underlying fund investments in which the Funds invest. These expenses are not included in the table.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs. Therefore, the hypothetical example is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Beginning
Account
Value
05/01/2021
Ending
Account
Value
10/31/2021
Annualized
Expense
Ratios for
the Period
05/01/2021
to 10/31/2021
Expenses
Paid During
the Period
05/01/2021
to 10/31/20211
IQ Hedge Multi-Strategy Tracker ETF
Actual
$ 1,000.00 $ 1,001.70 0.54% $ 2.72
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,022.49 0.54% $ 2.74
IQ Hedge Macro Tracker ETF
Actual
$ 1,000.00 $ 990.80 0.41% $ 2.06
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,023.14 0.41% $ 2.09
IQ Hedge Market Neutral Tracker ETF
Actual
$ 1,000.00 $ 993.60 0.41% $ 2.05
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,023.14 0.41% $ 2.09
IQ Hedge Long/Short Tracker ETF
Actual
$ 1,000.00 $ 1,052.70 0.41% $ 2.11
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,023.15 0.41% $ 2.08
IQ Hedge Event-Driven Tracker ETF
Actual
$ 1,000.00 $ 1,011.30 0.41% $ 2.06
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,023.15 0.41% $ 2.07
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TABLE OF CONTENTS
Fund Expenses (unaudited)(continued)
Beginning
Account
Value
05/01/2021
Ending
Account
Value
10/31/2021
Annualized
Expense
Ratios for
the Period
05/01/2021
to 10/31/2021
Expenses
Paid During
the Period
05/01/2021
to 10/31/20211
IQ Real Return ETF
Actual
$ 1,000.00 $ 1,012.50 0.21% $ 1.06
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,024.15 0.21% $ 1.06
IQ S&P High Yield Low Volatility Bond ETF
Actual
$ 1,000.00 $ 1,017.50 0.40% $ 2.03
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,023.19 0.40% $ 2.04
IQ Merger Arbitrage ETF
Actual
$ 1,000.00 $ 977.90 0.76% $ 3.78
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,021.38 0.76% $ 3.87
IQ Global Resources ETF
Actual
$ 1,000.00 $ 1,050.60 0.59% $ 3.05
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,022.23 0.59% $ 3.01
IQ U.S. Real Estate Small Cap ETF
Actual
$ 1,000.00 $ 1,062.30 0.70% $ 3.63
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,021.68 0.70% $ 3.56
IQ 50 Percent Hedged FTSE International ETF
Actual
$ 1,000.00 $ 1,045.90 0.20% $ 1.03
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,024.20 0.20% $ 1.02
IQ Chaikin U.S. Large Cap ETF
Actual
$ 1,000.00 $ 1,080.60 0.25% $ 1.31
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,023.95 0.25% $ 1.28
IQ Chaikin U.S. Small Cap ETF
Actual
$ 1,000.00 $ 1,041.10 0.35% $ 1.80
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,023.44 0.35% $ 1.79
IQ 500 International ETF
Actual
$ 1,000.00 $ 1,033.20 0.25% $ 1.28
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,023.95 0.25% $ 1.28
IQ Candriam ESG U.S. Equity ETF
Actual
$ 1,000.00 $ 1,134.30 0.09% $ 0.48
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,024.75 0.09% $ 0.46
IQ Candriam ESG International Equity ETF
Actual
$ 1,000.00 $ 1,050.60 0.15% $ 0.78
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,024.45 0.15% $ 0.77
IQ Healthy Hearts ETF
Actual
$ 1,000.00 $ 1,097.90 0.45% $ 2.38
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,022.94 0.45% $ 2.30
IQ Engender Equality ETF*
Actual
$ 1,000.00 $ 1,005.20 0.45% $ 0.14
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,022.94 0.45% $ 2.29
IQ Cleaner Transport ETF*
Actual
$ 1,000.00 $ 1,033.00 0.45% $ 0.14
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,022.94 0.45% $ 2.29
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TABLE OF CONTENTS
Fund Expenses (unaudited)(continued)
Beginning
Account
Value
05/01/2021
Ending
Account
Value
10/31/2021
Annualized
Expense
Ratios for
the Period
05/01/2021
to 10/31/2021
Expenses
Paid During
the Period
05/01/2021
to 10/31/20211
IQ Clean Oceans ETF*
Actual
$ 1,000.00 $ 1,018.20 0.45% $ 0.14
Hypothetical (assuming a 5% return before expenses)
$ 1,000.00 $ 1,022.94 0.45% $ 2.29
*
Fund commenced operation on October 21, 2021. Expenses are calculated using the Fund’s annualized expense ratio, multiplied by the ending value for the period, multiplied by 11/365 (to reflect commencement of operation).
1
Unless otherwise indicated, expenses are calculated using the Fund’s annualized expense ratio, multiplied by the average account value for the period, multiplied by 184/365.
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TABLE OF CONTENTS
Portfolio Summaries* 
October 31, 2021 (unaudited)
IQ Hedge Multi-Strategy Tracker ETF
Net Assets ($ mil): $819.4
Asset Class
% of
Net Assets
Investment Grade Corporate Bond Funds
18.6%
U.S. Ultra Short Term Bond Funds
13.4
Money Market Funds
10.6
Bank Loan Funds
10.6
Convertible Bond Funds
10.4
U.S. Medium Term Treasury Bond Funds
6.0
Europe Equity Funds
5.5
Emerging Equity Funds
3.2
U.S. Dollar Fund
2.8
Gold Funds
2.6
BRIC Equity Funds
2.6
U.S. Small Cap Growth Funds
2.4
Floating Rate – Investment Grade Funds
2.2
International Small Cap Equity Funds
2.1
Emerging Markets Small Cap Equity Fund
2.0
Emerging Bonds – Local Currency Funds
2.0
Silver Funds
2.0
High Yield Corporate Bond Funds
1.8
International Bond Fund
1.7
Emerging Bonds – USD Funds
1.7
U.S. Large Cap Core Funds
1.5
U.S. Large Cap Growth Funds
1.5
U.S. Preferred Funds
1.4
Mortgage Backed Securities Funds
0.6
International Large Cap Growth Fund
0.6
International Equity Core Funds
0.5
Volatility Note
0.2
Municipal Bond Fund
0.1
Total Investments
110.6
Other Assets and Liabilites, Net
(10.6)
Total Net Assets
100.0%
*
Each Fund’s portfolio is subject to change.
Abbreviation
BRIC — Brazil, Russia, India, China
IQ Hedge Macro Tracker ETF
Net Assets ($ mil): $4.2
Asset Class
% of
Net Assets
U.S. Ultra Short Term Bond Funds
26.3%
Convertible Bond Funds
8.3
Emerging Equity Funds
8.0
BRIC Equity Funds
7.2
Europe Equity Funds
7.0
Investment Grade Corporate Bond Funds
6.6
U.S. Medium Term Treasury Bond Funds
6.6
Money Market Funds
6.3
Floating Rate – Investment Grade Funds
5.6
Emerging Bonds – Local Currency Funds
5.6
Gold Funds
3.4
High Yield Corporate Bond Funds
3.2
Emerging Small Cap Equity Fund
2.7
Emerging Bonds – USD Funds
2.7
U.S. Dollar Fund
2.7
Silver Funds
2.5
U.S. Large Cap Growth Funds
1.0
U.S. Large Cap Core Funds
0.5
Total Investments
106.2
Other Assets and Liabilites, Net
(6.2)
Total Net Assets
100.0%
See notes to financial statements.
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TABLE OF CONTENTS
Portfolio Summaries* (continued)
October 31, 2021 (unaudited)
IQ Hedge Market Neutral Tracker ETF
Net Assets ($ mil): $17.6
Asset Class
% of
Net Assets
U.S. Ultra Short Term Bond Funds
38.2%
Bank Loan Funds
19.6
International Bond Fund
10.5
U.S. Medium Term Treasury Bond Funds
8.3
Mortgage Backed Securities Funds
6.2
International Small Cap Equity Funds
5.8
Money Market Funds
4.5
Investment Grade Corporate Bond Funds
3.5
Floating Rate – Investment Grade Funds
2.1
High Yield Corporate Bond Funds
2.0
Municipal Bond Fund
1.5
Emerging Equity Funds
1.2
Convertible Bond Funds
0.7
Emerging Bonds – Local Currency Funds
0.3
U.S. Momentum Fund
0.1
Total Investments
104.5
Other Assets and Liabilites, Net
(4.5)
Total Net Assets
100.0%
IQ Hedge Long/Short Tracker ETF
Net Assets ($ mil): $18.1
Asset Class
% of
Net Assets
Investment Grade Corporate Bond Funds
21.5%
U.S. Large Cap Core Funds
18.4
International Small Cap Equity Funds
17.8
Money Market Funds
15.7
U.S. Large Cap Growth Funds
11.3
International Large Cap Growth Fund
9.0
Bank Loan Funds
8.6
International Equity Core Funds
8.4
U.S. REITS Funds
4.1
Volatility Note
1.0
U.S. Ultra Short Term Bond Funds
0.2
Total Investments
116.0
Other Assets and Liabilites, Net
(16.0)
Total Net Assets
100.0%
*
Each Fund’s portfolio is subject to change.
IQ Hedge Event-Driven Tracker ETF
Net Assets ($ mil): $19.2
Asset Class
% of
Net Assets
Investment Grade Corporate Bond Funds
39.6%
Bank Loan Funds
24.2
Convertible Bond Funds
22.9
U.S. Small Cap Growth Funds
8.3
Money Market Funds
8.0
U.S. Preferred Funds
4.8
Total Investments
107.8
Other Assets and Liabilites, Net
(7.8)
Total Net Assets
100.0%
IQ Real Return ETF
Net Assets ($ mil): $55.3
Asset Class
% of
Net Assets
U.S. Ultra Short Term Bond Funds
67.4%
Money Market Funds
19.3
U.S. Medium Term Treasury Bond Funds
10.0
U.S. Large Cap Core Funds
7.8
Japanese Yen Fund
7.4
Euro Fund
2.7
U.S. Long Term Treasury Bond Funds
2.5
Oil Fund
2.2
Total Investments
119.3
Other Assets and Liabilites, Net
(19.3)
Total Net Assets
100.0%
See notes to financial statements.
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TABLE OF CONTENTS
Portfolio Summaries* (continued)
October 31, 2021 (unaudited)
IQ S&P High Yield Low Volatility Bond ETF
Net Assets ($ mil): $37.4
Industry
% of
Net Assets
Consumer Discretionary
14.4%
Health Care
12.8
Energy
11.6
Media
9.7
Industrials
8.7
Consumer Staples
7.4
Materials
7.0
Financials
6.0
Real Estate
5.2
Information Technology
4.9
Telecommunication Services
4.6
Utilities
4.4
Money Market Fund
2.5
Transportation
1.3
Total Investments
100.5
Other Assets and Liabilites, Net
(0.5)
Total Net Assets
100.0%
IQ Merger Arbitrage ETF
Net Assets ($ mil): $726.5
Industry
% of
Net Assets
Health Care
23.9%
Information Technology
17.8
Industrials
13.2
Financials
10.1
Money Market Funds
9.5
Utilities
6.6
Materials
5.5
Consumer Discretionary
5.2
Real Estate
4.3
Communication Services
1.5
Energy
1.3
Consumer Staples
1.2
Total Investments
100.1
Other Assets and Liabilites, Net
(0.1)
Total Net Assets
100.0%
*
Each Fund’s portfolio is subject to change.
(a)
Less than 0.05%.
IQ Global Resources ETF
Net Assets ($ mil): $30.1
Asset Class
% of
Net Assets
Energy
30.8%
Grains Food Fiber
23.9
Industrial Metals
22.2
Precious Metals
7.8
Livestock
5.3
Water
5.0
Timber
4.8
Money Market Funds
1.4
Coal
0.0(a)
Total Investments
101.2
Other Assets and Liabilites, Net
(1.2)
Total Net Assets
100.0%
IQ U.S. Real Estate Small Cap ETF
Net Assets ($ mil): $49.3
Asset Class
% of
Net Assets
Specialized REITs
18.8%
Retail REITs
17.1
Mortgage REITs
15.8
Diversified REITs
15.5
Office REITs
13.6
Hotel REITs
12.5
Residential REITs
6.4
Money Market Funds
0.9
Total Investments
100.6
Other Assets and Liabilites, Net
(0.6)
Total Net Assets
100.0%
See notes to financial statements.
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Portfolio Summaries* (continued)
October 31, 2021 (unaudited)
IQ 50 Percent Hedged FTSE International ETF
Net Assets ($ mil): $322.6
Asset Class
% of
Net Assets
Financials
16.9%
Industrials
15.8
Consumer Discretionary
12.7
Health Care
11.8
Information Technology
11.2
Consumer Staples
9.3
Materials
7.7
Communication Services
4.8
Energy
3.3
Real Estate
3.2
Utilities
3.1
Money Market Funds
2.3
Total Investments
102.1
Other Assets and Liabilites, Net
(2.1)
Total Net Assets
100.0%
IQ Chaikin U.S. Large Cap ETF
Net Assets ($ mil): $326.9
Asset Class
% of
Net Assets
Information Technology
28.2%
Health Care
16.5
Financials
13.6
Industrials
10.0
Consumer Discretionary
9.4
Communication Services
8.4
Real Estate
5.5
Consumer Staples
3.9
Utilities
1.6
Materials
1.6
Energy
1.3
Money Market Funds
0.9
Total Investments
100.9
Other Assets and Liabilites, Net
(0.9)
Total Net Assets
100.0%
*
Each Fund’s portfolio is subject to change.
IQ Chaikin U.S. Small Cap ETF
Net Assets ($ mil): $224.8
Asset Class
% of
Net Assets
Financials
27.5%
Industrials
18.1
Health Care
12.8
Information Technology
12.5
Consumer Discretionary
9.3
Materials
4.5
Energy
4.2
Communication Services
3.2
Consumer Staples
3.2
Real Estate
2.5
Utilities
2.1
Money Market Funds
1.4
Total Investments
101.3
Other Assets and Liabilites, Net
(1.3)
Total Net Assets
100.0%
IQ 500 International ETF
Net Assets ($ mil): $244.3
Asset Class
% of
Net Assets
Industrials
21.4%
Consumer Discretionary
12.9
Consumer Staples
11.7
Financials
10.0
Materials
9.7
Communication Services
7.9
Energy
7.5
Health Care
7.2
Utilities
6.3
Information Technology
5.1
Money Market Fund
2.7
Total Investments
102.4
Other Assets and Liabilites, Net
(2.4)
Total Net Assets
100.0%
See notes to financial statements.
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TABLE OF CONTENTS
Portfolio Summaries* (continued)
October 31, 2021 (unaudited)
IQ Candriam ESG U.S. Equity ETF
Net Assets ($ mil): $481.2
Asset Class
% of
Net Assets
Information Technology
36.9%
Health Care
14.2
Communication Services
10.2
Consumer Discretionary
10.1
Financials
8.7
Industrials
6.4
Consumer Staples
5.2
Real Estate
3.4
Materials
2.5
Utilities
1.3
Energy
1.0
Money Market Funds
0.1
Total Investments
100.0
Other Assets and Liabilites, Net
0.0(a)
Total Net Assets
100.0%
IQ Candriam ESG International Equity ETF
Net Assets ($ mil): $212.7
Asset Class
% of
Net Assets
Financials
17.8%
Industrials
16.9
Health Care
13.0
Consumer Discretionary
11.3
Information Technology
10.7
Consumer Staples
7.9
Materials
7.0
Communication Services
4.8
Energy
4.6
Real Estate
3.0
Utilities
2.7
Money Market Funds
1.5
Total Investments
101.2
Other Assets and Liabilites, Net
(1.2)
Total Net Assets
100.0%
*
Each Fund’s portfolio is subject to change.
(a)
Less than 0.05%.
IQ Healthy Hearts ETF
Net Assets ($ mil): $7.2
Asset Class
% of
Net Assets
Health Care
62.4%
Consumer Discretionary
17.2
Consumer Staples
8.2
Communication Services
5.2
Information Technology
5.1
Industrials
1.3
Real Estate
0.5
Money Market Funds
0.0(a)
Total Investments
99.9
Other Assets and Liabilites, Net
0.1
Total Net Assets
100.0%
IQ Engender Equality ETF
Net Assets ($ mil): $5.0
Asset Class
% of
Net Assets
Financials
18.1%
Health Care
17.1
Consumer Discretionary
16.6
Information Technology
16.1
Consumer Staples
11.6
Communication Services
8.6
Industrials
6.9
Materials
3.8
Real Estate
1.3
Total Investments
100.1
Other Assets and Liabilites, Net
(0.1)
Total Net Assets
100.0%
See notes to financial statements.
12

TABLE OF CONTENTS
Portfolio Summaries* (continued)
October 31, 2021 (unaudited)
IQ Cleaner Trasport ETF
Net Assets ($ mil): $5.2
Asset Class
% of
Net Assets
Industrials
34.5%
Consumer Discretionary
28.7
Information Technology
23.4
Utilities
9.8
Communication Services
3.0
Materials
0.5
Money Market Funds
0.0(a)
Total Investments
99.9
Other Assets and Liabilites, Net
0.1
Total Net Assets
100.0%
*
Each Fund’s portfolio is subject to change.
(a)
Less than 0.05%.
IQ Clean Oceans ETF
Net Assets ($ mil): $5.1
Asset Class
% of
Net Assets
Information Technology
22.9%
Utilities
17.2
Industrials
16.7
Consumer Staples
16.5
Consumer Discretionary
14.4
Materials
12.6
Total Investments
100.3
Other Assets and Liabilites, Net
(0.3)
Total Net Assets
100.0%
See notes to financial statements.
13​

TABLE OF CONTENTS
Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF 
October 31, 2021 (unaudited)
Shares
Value
Exchange Traded Note — 0.2%
Volatility Note — 0.2%
iPath Series B S&P 500 VIX Short-Term Futures ETN*
(Cost $2,373,898)
75,845
$
  1,626,117
Exchange Traded Vehicles — 7.4%
Gold Funds — 2.6%
Aberdeen Standard Physical Gold Shares ETF*
82,071 1,404,235
Graniteshares Gold Trust*(a)
35,828 633,797
iShares Gold Trust*
500,699 16,988,717
SPDR Gold MiniShares Trust*(a)
150,692 2,671,769
Total Gold Funds
21,698,518
Silver Funds — 2.0%
Aberdeen Standard Physical Silver Shares ETF*
49,830 1,146,588
iShares Silver Trust*
684,987 15,131,363
Total Silver Funds
16,277,951
U.S. Dollar Fund — 2.8%
Invesco DB U.S. Dollar Index Bullish Fund*(a)
899,718 22,717,880
Total Exchange Traded Vehicles
(Cost $61,063,415)
60,694,349
Investment Companies — 92.4%
Bank Loan Funds — 10.6%
Invesco Senior Loan ETF(a)
1,804,510 39,843,581
SPDR Blackstone Senior Loan ETF
1,017,585 46,707,152
Total Bank Loan Funds
86,550,733
BRIC Equity Funds — 2.6%
iShares MSCI China ETF
235,682 16,318,622
SPDR S&P China ETF
40,459 4,555,683
Total BRIC Equity Funds
20,874,305
Convertible Bond Funds — 10.4%
iShares Convertible Bond ETF(a)
168,385 17,246,833
SPDR Bloomberg Barclays Convertible Securities ETF(a)
776,161 68,286,645
Total Convertible Bond Funds
85,533,478
Emerging Bonds — Local Currency Funds — 2.0%
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF
180,983 4,504,667
VanEck J. P. Morgan EM Local Currency
Bond ETF
403,147 11,868,648
Total Emerging Bonds — Local Currency Funds
16,373,315
Emerging Bonds — USD Funds — 1.7%
iShares J.P. Morgan USD Emerging Markets Bond ETF(a)
110,253 12,115,702
Vanguard Emerging Markets Government Bond ETF(a)
23,326 1,819,428
Total Emerging Bonds — USD
Funds
13,935,130
Shares
Value
Investment Companies (continued)
Emerging Equity Funds — 3.2%
iShares Core MSCI Emerging
Markets ETF
206,958 $  12,920,388
Vanguard FTSE Emerging Markets
ETF(a)
257,581 13,049,053
Total Emerging Equity Funds
25,969,441
Emerging Markets Small Cap Equity Fund — 2.0%
SPDR S&P Emerging Markets SmallCap ETF
278,763 16,530,646
Europe Equity Funds — 5.5%
iShares Core MSCI Europe ETF(a)
152,027 8,951,350
Vanguard FTSE Europe ETF
521,439 35,932,361
Total Europe Equity Funds
44,883,711
Floating Rate — Investment Grade Funds — 2.2%
iShares Floating Rate Bond ETF(a)
259,346 13,172,183
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF(a)
157,751 4,833,491
Total Floating Rate — Investment Grade Funds
18,005,674
High Yield Corporate Bond Funds — 1.9%
iShares 0-5 Year High Yield Corporate Bond ETF
18,331 834,977
iShares iBoxx High Yield Corporate Bond
ETF(a)
85,919 7,468,939
SPDR Bloomberg Barclays High Yield Bond ETF(a)
32,040 3,480,185
SPDR Bloomberg Barclays Short Term High Yield Bond ETF
27,059 738,981
Xtrackers USD High Yield Corporate Bond ETF(a)
65,917 2,624,815
Total High Yield Corporate Bond Funds
15,147,897
International Bond Fund — 1.7%
SPDR Bloomberg Barclays International
Treasury Bond ETF
492,684 14,080,909
International Equity Core Funds — 0.5%
iShares Core MSCI EAFE ETF
28,045 2,145,723
Vanguard FTSE Developed Markets
ETF
43,024 2,242,411
Total International Equity Core
Funds
4,388,134
International Large Cap Growth Fund — 0.6%
iShares MSCI EAFE Growth ETF(a)
42,460 4,710,937
International Small Cap Equity Funds — 2.1%
Schwab International Small-Cap Equity
ETF
110,798 4,758,774
Vanguard FTSE All World ex-U.S. Small-Cap ETF
89,612 12,364,664
Total International Small Cap Equity Funds
17,123,438
See notes to financial statements.
14

TABLE OF CONTENTS
Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
October 31, 2021 (unaudited)
Shares
Value
Investment Companies (continued)
Investment Grade Corporate Bond Funds — 18.6%
iShares Broad USD Investment Grade Corporate Bond ETF
6,202 $ 373,546
iShares iBoxx $ Investment Grade Corporate Bond ETF(a)
17,293 2,308,270
SPDR Portfolio Short Term Corporate Bond ETF
735,553 22,883,054
Vanguard Intermediate-Term Corporate Bond ETF
27,653 2,596,340
Vanguard Short-Term Corporate Bond ETF(a)
1,521,897 124,612,926
Total Investment Grade Corporate Bond Funds
152,774,136
Mortgage Backed Securities Funds — 0.6%
iShares MBS ETF
24,921 2,687,231
SPDR Portfolio Mortgage Backed Bond
ETF(a)
17,265 440,776
Vanguard Mortgage-Backed Securities
ETF(a)
30,703 1,630,636
Total Mortgage Backed Securities Funds
4,758,643
Municipal Bond Fund — 0.1%
VanEck High Yield Muni ETF(a)
19,143 1,188,589
U.S. Large Cap Core Funds — 1.5%
Energy Select Sector SPDR Fund
40,846 2,347,420
Financial Select Sector SPDR Fund
152,323 6,132,524
Health Care Select Sector SPDR
Fund(a)
2,673 357,701
Technology Select Sector SPDR Fund
5,575 900,530
Vanguard Energy ETF
5,948 483,096
Vanguard Financials ETF
16,368 1,631,071
Vanguard Health Care ETF(a)
1,482 383,023
Vanguard Information Technology
ETF
520 225,763
Total U.S. Large Cap Core Funds
12,461,128
U.S. Large Cap Growth Funds — 1.5%
Schwab U.S. Large-Cap Growth ETF
10,282 1,658,075
Vanguard Growth ETF(a)
27,070 8,504,041
Vanguard Mega Cap Growth ETF(a)
4,957 1,259,772
Vanguard Russell 1000 Growth ETF
9,623 737,122
Total U.S. Large Cap Growth Funds
12,159,010
U.S. Medium Term Treasury Bond Funds — 6.0%
iShares 3-7 Year Treasury Bond ETF(a)
180,410 23,281,911
Schwab Intermediate-Term U.S. Treasury
ETF(a)
145,570 8,183,945
Vanguard Intermediate-Term Treasury ETF(a)
259,100 17,359,700
Total U.S. Medium Term Treasury Bond
Funds
48,825,556
U.S. Preferred Funds — 1.4%
Invesco Preferred ETF(a)
204,593 3,085,262
iShares Preferred & Income Securities ETF(a)
213,632 8,410,692
Total U.S. Preferred Funds
11,495,954
Shares
Value
Investment Companies (continued)
U.S. Small Cap Growth Funds — 2.4%
iShares Russell 2000 Growth ETF(a)
22,105 $ 6,795,519
iShares S&P Small-Cap 600 Growth ETF(a)
26,268 3,559,577
Vanguard Small-Cap Growth ETF(a)
31,316 9,257,009
Total U.S. Small Cap Growth Funds
19,612,105
U.S. Ultra Short Term Bond Funds — 13.3%
Invesco Treasury Collateral ETF(a)
2,914 307,908
IQ Ultra Short Duration ETF†(b)
2,209,310 109,143,449
Total U.S. Ultra Short Term Bond
Funds
109,451,357
Total Investment Companies
(Cost $735,924,832)
756,834,226
Short-Term Investments — 10.6%
Money Market Funds — 10.6%
Dreyfus Government Cash Management Fund, Institutional Shares, 0.03%(c)(d)
85,810,162 85,810,162
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 0.01%(c)
781,922 781,922
Total Short-Term Investments
(Cost $86,592,084)
86,592,084
Total Investments — 110.6%
(Cost $885,954,229)
905,746,776
Other Assets and Liabilities,
Net — (10.6)%
(86,351,537)
Net Assets — 100.0%
$ 819,395,239
*
Non-income producing securities.

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 $130,691,744; total market value of collateral held by the Fund was $133,575,953. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of  $47,765,791.
(b)
All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $642,221.
(c)
Reflects the 1-day yield at October 31, 2021.
(d)
Represents security purchased with cash collateral received for securities on loan.
Abbreviation
BRIC — Brazil, Russia, India, China
See notes to financial statements.
15​

TABLE OF CONTENTS
Schedule of Investments — IQ Hedge Multi-Strategy Tracker ETF (continued)
October 31, 2021 (unaudited)
Total Return Swap contracts outstanding at October 31, 2021:
Total Return Benchmark
Counterparty
Floating
Rate(e)
Expiration
Date
Payment
Frequency
Notional
Amount
Long/​
(Short)
Value/​
Unrealized
Appreciation/​
(Depreciation)(f)
Aberdeen Standard Physical Gold
Shares ETF
Merrill Lynch
1-Day FEDL01 + 0.50%
2/28/2023
Monthly
$ 36,359 $   —
Aberdeen Standard Physical Gold
Shares ETF
Morgan Stanley
1-Day FEDEF + 0.50%
7/05/2023
Monthly
36,359
Aberdeen Standard Physical Silver
Shares ETF
Merrill Lynch
1-Day FEDL01 + 0.50%
2/28/2023
Monthly
29,683
Aberdeen Standard Physical Silver
Shares ETF
Morgan Stanley
1-Day FEDEF + 0.50%
7/05/2023
Monthly
29,683
Consumer Discretionary Select Sector SPDR Fund
Merrill Lynch
1-Day FEDL01
2/28/2023
Monthly
(1,000,520)
Consumer Discretionary Select Sector SPDR Fund
Morgan Stanley
1-Day FEDEF - 0.05%
7/05/2023