IQ U.S. Large Cap R&D Leaders ETF

The Fund seeks investment results that correspond (before fees and expenses) generally to the price and yield performance of its underlying index, the IQ U.S. Large Cap R&D Leaders Index (the Underlying Index). The Fund employs a passive management or indexing investment approach designed to track the performance of the Underlying Index, which was developed by IndexIQ LLC (IndexIQ), an affiliate of IndexIQ Advisors LLC, the Funds investment advisor (the Advisor). The Underlying Index seeks to provide exposure to innovative companies by investing in the equities of US large cap companies that have high research and development (R&D) spending.