IndexIQ

Mutual Funds

IndexIQ offers the next generation of alternative investments for all investors. Investments that are liquid, transparent and low cost.*

IQ Alpha Hedge Strategy Fund
The First No-Load Mutual Fund Based on Hedge Fund Replication

Using highly liquid exchange-traded funds as the underlying investment components, IndexIQ offers a suite of hedge fund replication products that covers the top hedge fund investment styles. Our ETF-based replication strategies seek improved transparency, liquidity, no manager selection risk and other benefits relative to traditional hedge fund products. These solutions also help fill a gap in the industry, offering all investors access to lower cost, non-correlated investment solutions that eliminate the structural problems associated with the hedge fund industry in recent years.

The IQ Alpha Hedge Strategy Fund uses a proprietary investment process to synthesize the risk and return profiles of a broad range of hedge fund investing strategies, striving to deliver hedge fund-like performance in a low cost, transparent, and highly liquid investment vehicle.

As of 04/30/2014

Fund Name Fund Ticker   NAV NAV Change Index Symbol

IQ ALPHA Hedge Strategy Fund

Institutional Share Class IQHIX       $11.0083 $0.1697     IQHGALPH 
Investor Share Class IQHOX      $10.9807 $0.1565     IQHGALPH 

* While it is a no-load fund, other fees and charges do apply. The Fund’s investment advisor has contractually agreed to waive fees and/or reimburse expenses through September 30, 2012 to ensure that the net annual Fund expenses (excluding certain fees such as 12(b)1 fees, taxes, and the fees and expenses of the underlying ETFs) will not exceed 1.65%, for the possible recoupment from the Fund in future years. The Fund will also assess a 2.00% redemption fee on shares redeemed within 7 days of purchase. Components are published in the Fund's fact sheet.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds before investing. To obtain a prospectus containing this and other important information, please call 1-888-934-0777 or click here to view or download a prospectus online. Read the prospectus carefully before you invest. There are risks involved with investing including the possible loss of principal. Past performance does not guarantee future results.

IndexIQ ETFs are distributed by ALPS Distributors, Inc. (ALPS). ALPS is not affiliated with IndexIQ or Schwab.