IndexIQ Launches Fund of Funds ETF
Index IQ has launched the IQ Hedge Multi-Strategy Tracker ETF (QAI) which uses a multi-strategy approach to invest in ETFs.
The fund tracks an index that is designed to capture risk-adjusted return characteristics of the collective hedge fund universe.
Investment styles include long/short equity global macro, market neutral, event-driven, fixed income arbitrage and emerging markets.
The ETF offers better liquidity and transparency and lower fees than the typical hedge fund.
The fund's expense ratio will be 0.75%.
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