IQ Hedge Market Neutral Tracker ETF
QMN
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- IQ Hedge Market Neutral Tracker ETF (QMN) is an exchange-traded fund that seeks to track the performance, before fees and expenses, of the IQ Hedge Market Neutral Index, employing a market neutral strategy with long and short positions across various assets and asset classes to generate positive returns while minimizing systematic equity market risk and beta exposure. Launched in 2012 by IndexIQ ETF Trust, an affiliate of New York Life Investment Management LLC and headquartered in New York, the fund primarily invests through derivatives and other funds in public equity and fixed income markets globally, targeting institutional and retail investors seeking absolute returns in the alternatives segment. Its portfolio features 28 holdings concentrated in the top 10 positions (68.58% of assets), with an expense ratio of 0.66%, a dividend yield around 2-3%, and low volatility metrics including a beta of 0.2. The fund offers exposure to long/short broad-based strategies using a multi-factor weighting scheme focused on hedge fund replication without K-1 distributions or short equity cost drags, emphasizing fixed income and cash stakes alongside equity positions for zero equity market beta. Geographically, holdings span U.S. and foreign markets, with operations listed on NYSE Arca. In December 2022, IndexIQ announced the liquidation of QMN alongside several other ETFs (including HYLV, QLS, QED, and MCRO) as part of a product suite review to align with evolving client needs, with trading ceasing on January 31, 2023, and proceeds distributed to shareholders around February 7, 2023. This followed IndexIQ's integration into New York Life Investments after its 2015 acquisition, during which the firm rebranded and streamlined offerings, though QMN was ultimately delisted and is no longer active. No recent relaunches, partnerships, or operational revivals have occurred as of late 2025.