QLS — IQ Hedge Long/Short Tracker ETF
Data updated: 2023-03-28
QLS — IQ Hedge Long/Short Tracker ETF. Commodity · $20.09M AUM · 0.57% expense ratio · -3.9% 1-yr return. Holdings, fees, performance and SEC filings.
QLS Fund Overview
QLS — IQ Hedge Long/Short Tracker ETF is a US ETF managed by New York Life Investments ETF Trust, categorised as Commodity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: New York Life Investments ETF Trust
- Category: Commodity
- Assets under management: $20.09M
- 1-year return: -3.9%
- Ticker: QLS
- SEC CIK: 0001415995
- SEC series ID: S000023663
- Share class ID: C000069677
QLS Investment Objective and Strategy
IQ Hedge Long/Short Tracker ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by New York Life Investments ETF Trust.
Investment objective
The Fund seeks investment results that correspond (before fees and expenses) generally to the price and yield performance of its underlying index, the IQ Hedge Long/Short Index (the Underlying Index).
Principal investment strategy
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 consists of a number of components (Underlying Index Components) selected in accordance with IndexIQs rules-based methodology of such Underlying Index. Such Underlying Index Components will include primarily ETFs and/or other exchange-traded vehicles issuing equity securities organized in the U.S., such as exchange -traded commodity pools (ETVs), and may include exchange-traded notes (ETNs) (such ETFs, ETVs and ETNs are referred to collectively as exchange-traded products or ETPs). The Fund may also invest in one or more financial instruments, including but not limited to futures contracts and swap agreements (collectively, Financial Instruments).
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 track the beta portion of the returns (i.e., that portion of the returns of hedge funds that are non-idiosyncratic, or unrelated to manager skill) of hedge funds pursuing a long/short strategy (the Strategy). Long/short hedge funds typically diversify their risks by limiting the net exposure to particular regions, industries, sectors and market capitalization bands, allowing them to focus on company-specific anomalies. At the same time, long/short managers often hedge against un-diversifiable risk, such as market risk (i.e., the returns of the overall market).
Certain long/short managers focus on specific sectors, regions or industries, on particular investment styles, such as value or growth, or certain types of stocks, such as small or large. The Fund does not invest in hedge funds, and the Underlying Index does not include hedge funds as Underlying Index Components. The Fund is not a fund of hedge funds. The Underlying Index may include both long and short positions in securities, including, primarily, ETPs. As opposed to taking long positions in which an investor seeks to profit from increases in the price of a security, short selling (or selling short) is a technique used by the Fund to try and profit from the falling price of a security. Short selling involves selling a security that has been borrowed from a third party with the intention of buying the identical security back at a later date to return to that third party.
The basic principle of short selling is that one can profit by selling a security now at a high price and later buying it back at a lower price. The short seller hopes to profit from a decline in the price of the security between the sale and the repurchase, as the seller will pay less to buy the security than it received on selling the security. The Underlying Index generally is based on the premise that hedge fund returns, when aggregated among hedge funds with similar investment styles, display over time significant exposures to a set of common investment strategies and asset classes. By creating an index that has similar exposures to the same investment strategies and asset classes as hedge funds generally, IndexIQ seeks to replicate the beta return characteristics of hedge funds. The Underlying Index Components of this Strategy generally provide exposures to: U.S.
large-capitalization equity; U.S. small-capitalization equity; U.S. growth equity; U.S. value equity; Emerging market equity; Foreign equity (Europe, Australasia & Far East); U.S. investment grade corporate debt; and U.S. floating rate bank loans. The Underlying Index is unlike traditional market-oriented indexes like the Standard & Poors 500 Composite Stock Total Return Index (the S&P 500 Index). Instead of tracking the performance of publicly-traded issuers representing a market or industry sector, the Underlying Index seeks to track the returns of distinct hedge fund investment styles. For additional information about the Funds principal investment strategies, see Description of the Principal Investment Strategies of the Funds.
QLS Performance
Total returns for QLS (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -3.9% |
| 3 years (annualised) | 5.2% |
QLS Risk Information
Risk metrics for QLS, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 16.6%
QLS Costs and Fees
QLS costs about $57 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.57%
- Gross expense ratio: 0.57%
- Portfolio turnover: 71%
- Brokerage commissions: 3.07 bps of average net assets (SEC N-CEN)
QLS Cashflows
Over the 12 months to 2023-01, IQ Hedge Long/Short Tracker ETF had net inflows of $13.69M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-01 | $2.50M |
| 2022-12 | $1.25M |
| 2022-11 | $2.49M |
| 2022-10 | $1.15M |
| 2022-09 | $1.11M |
| 2022-08 | $0 |
QLS Debt Constituents
No individual debt constituents are reported in IQ Hedge Long/Short Tracker ETF's latest SEC N-PORT filing.
QLS Prospectus and SEC Filings
Official IQ Hedge Long/Short Tracker ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-08-29
- Prospectus (485BPOS) — filed 2021-08-30
- Prospectus (485BPOS) — filed 2020-09-10
- Portfolio holdings (N-PORT) — filed 2023-03-28
- Portfolio holdings (N-PORT) — filed 2022-12-23
- Portfolio holdings (N-PORT) — filed 2022-09-26
- Annual census (N-CEN) — filed 2022-07-13
- Annual census (N-CEN) — filed 2021-07-09
Related Funds
Other Commodity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.