15 More Hedge Fund ETFs On The Way

Apr 17 2009 | 9:17am ET

Just weeks after launching the first hedge fund index-linked exchange-traded fund in the U.S., IndexIQ has rolled out an ambitious plan for a whole suite of hedge fund replication ETFs.

The Rye Brook, N.Y.-based firm has filed a registration statement for 15 strategy-specific ETFs. Like IndexIQ’s first hedge fund ETF, the new funds will track indices created by IndexIQ. The IQ Hedge Multi-Strategy Tracker ETF debuted on the NYSE Arca electronic stock exchange last month; while it seeks to replicate hedge fund returns, it eschews investing in alternatives. Instead, it invests entirely in other ETFs, such as the iShares Lehmam Aggregate Bond Fund, iShares Lehman 1-3 Year Treasury Bond Fund and iShares MSCI Emerging Markets Index Fund.

Among IndexIQ’s planned ETFs are equal-weighted and asset-weighted versions of the Multi-Strategy Tracker ETF, and an inverse version. Strategies getting their own ETFs include absolute return, convertible arbitrage, dedicated short-bias, distressed, managed futures, market directional, merger arbitrage and relative value.

IndexIQ has also included an ETF that will track the Consumer Price Index in the registration statement, filed earlier this month.

The Securities and Exchange Commission filing does not indicate the expense ratio IndexIQ plans for the new funds.

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