The performance data quoted above represents past performance. Past performance is not a guarantee of future results. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. Fund returns reflect dividends and capital gains distributions. 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.

IndexIQ shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Total Returns are calculated using the daily 4:00 pm ET net asset value (NAV). Market price returns reflect the share price as of the close of trading on the exchange where Fund shares are listed. Market price returns do not represent the returns you would receive if you traded shares at other times.

IQ Global Oil Small Cap ETF: As the Fund’s investments are concentrated in the crude oil sector, the value of its shares will be affected by factors specific to that sector and may fluctuate more widely than that of a fund which invests in a broad range of industries. The Fund also may be susceptible to foreign securities risk. Since the Fund invests in foreign markets, it will be subject to risk of loss not typically associated with domestic markets. Loss may result because of less foreign government regulation, less public information, less economic, political and social stability, or other factors. The Fund is exposed to mid and small capitalization companies risk. Stock prices of mid and small capitalization companies generally are more volatile than those of larger companies and also are more vulnerable than those of large capitalization companies to adverse business and economic developments. The Fund invests in the securities of non-U.S. issuers and those securities involve risks beyond those associated with investments in U.S. securities. The Fund is non-diversified and is susceptible to greater losses if a single portfolio investment declines than would a diversified fund.

Returns less than 1 year are cumulative; all other returns are annualized.

* Fund Inception Date: May 5, 2011. The Index and Fund performance since inception in the table above is based on the Fund inception date. The Index inception date is April 11, 2011.

¹ IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund's NAV every 15 seconds throughout the trading day.


IQ GLOBAL OIL SMALL CAP INDEX

The IQ Global Oil Small Cap Index includes global small capitalization companies engaged in the oil sector, including in the areas of exploration and production, refining and marketing, and equipment, services and drilling.

The IQ Global Oil Small Cap Index is the exclusive property of IndexIQ which has contracted with Structured Solutions to maintain and calculate the Index.

The performance data quoted above represents past performance. Past performance is not a guarantee of future results. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. Fund returns reflect dividends and capital gains distributions. 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.

IndexIQ shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Total Returns are calculated using the daily 4:00 pm ET net asset value (NAV). Market price returns reflect the share price as of the close of trading on the exchange where Fund shares are listed. Market price returns do not represent the returns you would receive if you traded shares at other times.

IQ Global Oil Small Cap ETF: As the Fund’s investments are concentrated in the crude oil sector, the value of its shares will be affected by factors specific to that sector and may fluctuate more widely than that of a fund which invests in a broad range of industries. The Fund also may be susceptible to foreign securities risk. Since the Fund invests in foreign markets, it will be subject to risk of loss not typically associated with domestic markets. Loss may result because of less foreign government regulation, less public information, less economic, political and social stability, or other factors. The Fund is exposed to mid and small capitalization companies risk. Stock prices of mid and small capitalization companies generally are more volatile than those of larger companies and also are more vulnerable than those of large capitalization companies to adverse business and economic developments. The Fund invests in the securities of non-U.S. issuers and those securities involve risks beyond those associated with investments in U.S. securities. The Fund is non-diversified and is susceptible to greater losses if a single portfolio investment declines than would a diversified fund.

Returns less than 1 year are cumulative; all other returns are annualized.

* Fund Inception Date: May 5, 2011. The Index and Fund performance since inception in the table above is based on the Fund inception date. The Index inception date is April 11, 2011.

¹ IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund's NAV every 15 seconds throughout the trading day.


IQ GLOBAL OIL SMALL CAP INDEX

The IQ Global Oil Small Cap Index includes global small capitalization companies engaged in the oil sector, including in the areas of exploration and production, refining and marketing, and equipment, services and drilling.

The IQ Global Oil Small Cap Index is the exclusive property of IndexIQ which has contracted with Structured Solutions to maintain and calculate the Index.