FYI: Today IndexIQ, a subsidiary of New York Life Investment Management, launched the IQ 500 International ETF (IQIN), a smart-beta ETF that tracks equities from 23 countries, excluding the U.S. The fund is listed on the NYSE Arca.
IQIN will track the IQ 500 International Index, a rules-based, fundamental index developed by an affiliate of IndexIQ Advisors, the advisor of the fund (read: "IndexIQ Plans 2 Equity ETFs").
According to Sal Bruno, IndexIQ's chief investment officer, IQIN is meant to serve as a supplement to the firm's IQ 50 Percent Hedged FTSE International ETF (HFXI), which applies a 50% currency hedge to a portfolio of stocks from developed markets outside the U.S. and Canada.
Regards,
Ted
https://www.etf.com/sections/daily-etf-watch/indexiq-new-intl-etf-has-twist
