Overview
Overview
IQ Hedge Multi-Strategy Index (“Index”) attempts to achieve performance similar to the overall hedge fund universe as measured by the Barclay Hedge Fund Index (BHFI) by replicating the “beta” portion of the hedge fund return characteristics (i.e., that portion of the returns that are non-idiosyncratic, or unrelated to manager skill) over longer term periods. The BHFI is simply the arithmetic average of the net returns of all the funds (excepting Funds of Funds) in the Barclay database that have reported that month. In seeking to maintain a high correlation with the BHFI, the Index utilizes a systematic model to select and weight (both long and short) factors spanning multiple asset classes and alternative strategies.
Performance
Performance
The performance data quoted above represents past performance. Past performance is not a guarantee of future results. Performance may be lower or higher than performance data quoted. Index performance is for illustrative purposes only and does not represent actual Fund performance. One cannot invest directly in an index. Performance data for the Index assumes reinvestment of dividends and is net of the management fees for the Index's components, as applicable, but it does not reflect management fees, transaction costs or other expenses that you would pay if you invested in the Fund directly. Results prior to an Index component's existence as an ETF are based on its underlying index, which do not reflect underlying management fees.
IQ Hedge Multi-Strategy Index is the exclusive property of IndexIQ which has contracted with Structured Solutions to maintain and calculate the Index.