IQ Country Rotation All World ex-US Index

The IQ Country Rotation Index: All World ex-US seeks to achieve long-term capital appreciation through exposure, on a rotating basis, to various country equity markets, both developed and emerging markets, outside of the U.S.. The strategy's differentiated approach is based on a multi-factor, rules-based methodology that employs valuation, technical and economic factors to select the most attractive foreign equity markets in a manner designed to enhance the risk-adjusted returns of the portfolio. The portfolio is always 100% invested in equities and seeks to achieve all of its performance through country selection across both developed and emerging markets. The methodology does not involve asset allocation or individual stock selection.

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. One cannot invest directly in an index. Index performance information prior to its publication date of September 28, 2007 is based on a hypothetical back test based on calculations of what would have been the exposure and returns of the Index had it existed at that time, which has inherent limitations. Performance data for the Index assumes reinvestment of dividends, but it does not reflect management fees, transaction costs or other expenses that you would pay if you invested in a fund directly. The MSCI AC World ex USA Index is a free-float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets (other than the U.S.) and emerging markets (performance data assumes reinvestment of dividends, but it does not reflect management fees, transaction costs or other expenses). The Index is the exclusive property of IndexIQ which has contracted with Standard & Poor's ("S&P") to maintain and calculate the Index. S&P shall have no liability for any errors or omissions in calculating the Index.

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