IQ 50 PERCENT HEDGED FTSE JAPAN ETF (HFXJ) Exchange: NYSE ARCA

DELISTED - The Fund employs a “passive management” — or indexing — investment approach designed to track the performance of the Underlying Index, which was developed by FTSE International Ltd. (“FTSE”). The Underlying Index is an equity benchmark for Japan, with approximately half of the Underlying Index’s exposure to the Japanese yen “hedged” against the U.S. dollar on a monthly basis. The Underlying Index is a float-adjusted, market-capitalization-weighted index designed to measure equity market performance of the Japanese equity market. The Underlying Index includes primarily large- and mid-capitalization companies. As of June 30, 2019, a significant portion of the Underlying Index is represented by securities of companies in the industrials sector, financials sector, and consumer goods sector. The composition of the Underlying Index may change over time. The Underlying Index and the Fund’s NAV are denominated in U.S. dollars, while the component securities of the Underlying Index are generally denominated in Japanese yen. The Underlying Index is designed to reduce by approximately half the Fund’s exposure to fluctuations in the value of the Japanese yen relative to the U.S. dollar. The Underlying Index applies a one month forward rate to approximately half of the value of the Japanese yen-denominated securities included in the Underlying Index to hedge against fluctuations for this portion of the Fund’s Japanese yen exposure relative to the U.S. dollar. The hedge is reset on a monthly basis. The Fund invests, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the securities and other instruments included in its Underlying Index. The Fund is expected to have lower returns than a similar fund that does not hedge any of its currency exposure when the Japanese yen is rising relative to the U.S. dollar. The Fund is expected to have higher returns than a similar unhedged fund when the Japanese yen is falling relative to the U.S. dollar. In order to replicate the hedging component of the Underlying Index, the Fund intends to enter into foreign currency forward contracts and futures contracts designed to offset approximately half of the Fund’s exposure to the component currencies. A foreign currency forward contract is a contract between two parties to buy or sell a specified amount of a specific currency in the future at an agreed upon exchange rate. The Fund’s exposure to foreign currency forward contracts is based on approximately half of the Fund’s aggregate exposure to the Japanese yen. The Fund may also invest its assets in cash and cash equivalents, as well as in shares of other investment companies, options and swaps. To the extent that the Underlying Index concentrates (i.e., holds 25% or more of its total assets) in the securities of a particular industry or group of industries, the Fund will concentrate its investment to approximately the same extent as the Underlying Index. The Underlying Index is sponsored by an organization (the “Index Provider”) that is independent of the Fund and Advisor. The Index Provider determines the composition and relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index. The Fund’s Index Provider is FTSE, a widely known global index provider that currently manages and calculates more than 120,000 indices daily. The Fund may invest in one or more ETFs advised by the Advisor (“Affiliated ETFs”) that are not components of the index if such an investment will help the Fund track the Underlying Index.