IQ SHORT DURATION ENHANCED CORE BOND U.S. ETF (SDAG) Exchange: NYSE ARCA

DELISTED - The Fund is a “fund of funds” which means it invests, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the investments included in its Underlying Index, which includes underlying funds. The Underlying Index seeks to outperform the short duration U.S. dollar-denominated taxable fixed income universe by using a combination of short- and long-term momentum factors to overweight and underweight various sectors of the investment grade and high yield (or “junk”) U.S. fixed income securities market that have remaining maturities of five years or less. The Underlying Index consists of a number of components (“Underlying Index Components”) selected in accordance with IndexIQ LLC’s (“IndexIQ”) rules-based methodology. Such Underlying Index Components will include primarily ETFs and/or other exchange-traded vehicles organized in the U.S. (“ETVs”) (such ETFs and ETVs are referred to collectively as “exchange-traded products” or “ETPs”). As of June 30, 2019, the Underlying Index consists of 8 Underlying Index Components. The Fund may also invest in other securities and instruments, including but not limited to futures contracts and swap agreements (collectively, “Financial Instruments”) and bonds. The Fund invests, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, directly or indirectly through ETPs, in bonds, which include all types of debt securities, of U.S. issuers. The Fund employs a “passive management” — or indexing — investment approach designed to track the performance of the Underlying Index. The Underlying Index follows a rules-based methodology to construct an index consisting of investments in various sectors of the short duration fixed income securities market (“Short Duration Market”). The sectors of the Short Duration Market in which the Underlying Index principally invests are: Short-term U.S. Treasuries; Short-term U.S. investment grade corporate bonds; Short-term U.S. high yield (or “junk”) debt; and Short-term U.S. investment grade floating rate bonds. The Underlying Index weights each of the various sectors of the Short Duration Market based on the total return momentum of each fixed income sector. Momentum is measured by comparing the average total return index of the fixed income market sector over a short-term period with the sector’s average total return index over a longer-term period. The Underlying Index overweights fixed income sectors with high momentum and underweights fixed income sectors with low momentum. The exposure of the Underlying Index to different sectors of the Short Duration Market will vary over time. The maximum exposure to each of the Underlying Index to the high yield bond or floating rate bond sectors of the Short Duration Market is 25% of the Underlying Index. Over long-term periods, the Underlying Index is expected to have similar volatility to the Short Duration Market. However, the Underlying Index’s and Fund’s volatility during certain periods may materially exceed the volatility of the Short Duration Market. The Underlying Index rebalances monthly. The Underlying Index may include as a component one or more ETFs advised by the Advisor (“Affiliated ETFs”) and the Fund will typically invest in any Affiliated ETF included in the Underlying Index. The Fund also may invest in Affiliated ETFs that are not components of the index if such an investment will help the Fund track the Underlying Index.