Alternate ETF Pioneer Hits The $1 Billion Mark

Alternate ETF Pioneer Hits The $1 Billion Mark

IndexIQ, a manufacturer of 14 ETFs including four hedge fund replicants, has surpassed $1 billion in assets. The firm launched the first no-load hedge fund replication mutual fund -- the IQ Alpha Hedge Strategy Fund (OTC: IQHIX) -- in 2008 and followed up in 2009 with the introduction of the  IQ Hedge Multi-Strategy Tracker ETF (NYSE Arca: QAI), the first alternative exchange-traded fund, which has since grown to more than $400 million in assets. 

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