Schedules of Investments ─ IQ Hedge Multi-Strategy Tracker ETF

July 31, 2019 (unaudited)

in

	Shares		Value
Exchange Traded Note — 0.4%
Volatility Note — 0.4%
iPath Series B S&P 500 VIX Short-Term Futures ETN*(a)
(Cost $3,214,294)		128,647	$	3,034,783
Exchange Traded Vehicles — 4.6%
British Pound Fund — 0.0%(b)
Invesco CurrencyShares British Pound Sterling Trust*		63		7,431
Euro Fund — 2.3%
Invesco CurrencyShares Euro Currency Trust*(a)		188,292		19,821,499
Japanese Yen Fund — 1.1%
Invesco CurrencyShares Japanese Yen Trust*(a)		106,273		9,296,762
Silver Fund — 0.6%
iShares Silver Trust*(a)		326,362		4,963,966
U.S. Dollar Fund — 0.6%
Invesco DB U.S. Dollar Index Bullish Fund(a)		183,951		4,917,010
Total Exchange Traded Vehicles
(Cost $39,066,395)				39,006,668
Investment Companies — 94.9%
Asia ex Japan Equity Funds — 2.3%
iShares Core MSCI Pacific ETF(a)		149,956		8,303,064
iShares MSCI All Country Asia ex Japan ETF(a)		130,330		8,844,194
Vanguard FTSE Pacific ETF		34,731		2,262,030
Total Asia ex Japan Equity Funds				19,409,288
Bank Loan Funds — 5.3%
Invesco Senior Loan ETF(a)		1,292,998		29,506,214
SPDR Blackstone / GSO Senior Loan ETF		332,061		15,430,875
Total Bank Loan Funds				44,937,089
BRIC Equity Funds — 3.4%
iShares China Large-Cap ETF(a)		342,077		14,059,365
iShares MSCI China ETF(a)		192,377		11,248,283
SPDR S&P China ETF(a)		34,618		3,253,399
Total BRIC Equity Funds				28,561,047
Broad Fund — 0.4%
FlexShares Global Upstream Natural Resources Index Fund(a)		100,928		3,268,049
Emerging Bonds - Local Currency Funds — 2.0%
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF(a)		78,025		2,170,655
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF(a)		407,289		14,092,199
WisdomTree Emerging Markets Local Debt Fund(a)		14,161		504,132
Total Emerging Bonds - Local Currency Funds				16,766,986
Emerging Bonds - USD Funds — 2.0%
iShares J.P. Morgan USD Emerging Markets Bond ETF(a)		134,552		15,295,871
Vanguard Emerging Markets Government Bond ETF(a)		16,559		1,342,604
Total Emerging Bonds - USD Funds				16,638,475
		Shares		Value
Investment Companies (continued)
Emerging Markets Small Cap Equity Fund — 2.1%
SPDR S&P Emerging Markets SmallCap ETF		388,003	$	17,285,534
Europe Equity Funds — 2.1%
iShares Core MSCI Europe ETF		6,693		303,260
iShares MSCI Eurozone ETF		14,556		560,188
Vanguard FTSE Europe ETF		23,839		1,274,671
Xtrackers MSCI Europe Hedged Equity ETF		537,289		15,726,449
Total Europe Equity Funds				17,864,568
Floating Rate - Investment Grade Funds — 8.9%
iShares Floating Rate Bond ETF(a)		1,047,569		53,363,165
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF(a)		711,637		21,875,721
Total Floating Rate - Investment Grade Funds				75,238,886
High Yield Corporate Bond Funds — 1.8%
iShares 0-5 Year High Yield Corporate Bond ETF(a)		165,506		7,707,614
SPDR Bloomberg Barclays Short Term High Yield Bond ETF		283,110		7,686,437
Total High Yield Corporate Bond Funds				15,394,051
International Equity Core Fund — 2.7%
Xtrackers MSCI EAFE Hedged Equity ETF(a)		722,645		22,972,885
International Large Cap Growth Fund — 0.8%
iShares MSCI EAFE Growth ETF(a)		86,115		6,876,283
International Small Cap Equity Funds — 7.9%
Schwab International Small-Cap Equity ETF(a)		603,580		19,290,417
Vanguard FTSE All World ex-U.S. Small-Cap ETF		454,537		46,812,765
Total International Small Cap Equity Funds				66,103,182
Investment Grade Corporate Bond Funds — 9.9%
iShares Broad USD Investment Grade Corporate Bond ETF(a)		77,229		4,409,776
iShares iBoxx $ Investment Grade Corporate Bond ETF(a)		374,385		46,547,287
SPDR Portfolio Short Term Corporate Bond ETF(a)		11,220		344,790
Vanguard Intermediate-Term Corporate Bond ETF(a)		338,319		30,391,196
Vanguard Short-Term Corporate Bond ETF(a)		19,561		1,576,421
Total Investment Grade Corporate Bond Funds				83,269,470
Japan Equity Funds — 2.7%
iShares MSCI Japan ETF(a)		200,839		10,915,600
Xtrackers MSCI Japan Hedged Equity ETF		296,403		11,375,947
Total Japan Equity Funds				22,291,547
Mortgage Backed Securities Funds — 2.9%
iShares MBS ETF		142,807		15,384,598

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Multi-Strategy Tracker ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Investment Companies (continued)
Mortgage Backed Securities Funds (continued)
Vanguard Mortgage-Backed Securities ETF		169,162	$	8,957,128
Total Mortgage Backed Securities Funds				24,341,726
Municipal Bond Fund — 0.3%
VanEck Vectors High-Yield Municipal Index ETF(a)		38,419		2,452,285
U.S. Large Cap Core Funds — 2.5%
Consumer Discretionary Select Sector SPDR Fund(a)		68,000		8,208,960
Financial Select Sector SPDR Fund(a)		217,238		6,136,973
Health Care Select Sector SPDR Fund(a)		44,344		4,041,512
Invesco KBW Bank ETF(a)		13,194		693,741
SPDR S&P Bank ETF(a)		46,341		2,074,687
Technology Select Sector SPDR Fund(a)		2,372		191,586
Total U.S. Large Cap Core Funds				21,347,459
U.S. Medium Term Treasury Bond Funds — 1.6%
iShares 3-7 Year Treasury Bond ETF		50,508		6,331,178
Schwab Intermediate-Term U.S. Treasury ETF(a)		67,521		3,702,852
Vanguard Intermediate-Term Treasury ETF(a)		49,449		3,252,755
Total U.S. Medium Term Treasury Bond Funds				13,286,785
U.S. Momentum Fund — 1.1%
iShares Edge MSCI USA Momentum Factor ETF(a)		76,656		9,254,679
U.S. Preferred Funds — 0.4%
Invesco Preferred ETF(a)		52,600		784,266
iShares Preferred & Income Securities ETF(a)		62,863		2,347,933
Total U.S. Preferred Funds				3,132,199
U.S. Small Cap Core Funds — 0.6%
iShares Russell 2000 ETF(a)		18,735		2,933,152
Schwab U.S. Small-Cap ETF(a)		8,000		579,360
Vanguard Small-Cap ETF(a)		11,091		1,758,367
Total U.S. Small Cap Core Funds				5,270,879
U.S. Small Cap Growth Funds — 0.1%
iShares Russell 2000 Growth ETF(a)		1,862		378,898
iShares S&P Small-Cap 600 Growth ETF		1,229		226,578
Vanguard Small-Cap Growth ETF		2,001		379,150
Total U.S. Small Cap Growth Funds				984,626
U.S. Ultra Short Term Treasury Bond Funds — 31.1%
Goldman Sachs Access Treasury 0-1 Year ETF(a)		220,015		22,078,505
Invesco Treasury Collateral ETF		36,253		3,827,229
iShares Short Treasury Bond ETF(a)(c)		1,546,787		171,105,578
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF(a)		706,908		64,759,842
Total U.S. Ultra Short Term Treasury Bond Funds				261,771,154
Total Investment Companies
(Cost $793,949,293)				798,719,132
		Shares		Value
Short-Term Investment — 0.1%
Money Market Fund — 0.1%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 2.34%(d)
(Cost $1,066,517)		1,066,517	$	1,066,517
Investment of Cash Collateral For Securities Loaned — 11.5%
Money Market Fund — 11.5%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.26%(d)
(Cost $96,513,866)		96,513,866		96,513,866
Total Investments — 111.5%
(Cost $933,810,365)				938,340,966
Other Assets and Liabilities, Net — (11.5)%				(96,994,713	)
Net Assets — 100.0%			$	841,346,253

*	Non-income producing securities.
(a)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $188,201,570; total market value of collateral held by the Fund was $192,954,721.  Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $96,440,855.
(b)	Less than 0.05%.
(c)	All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $701,267.
(d)	Reflects the 1-day yield at July 31, 2019.

1

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Multi-Strategy Tracker ETF (continued)

July 31, 2019 (unaudited)

Total Return Swap contracts outstanding at July 31, 2019:
Total Return Benchmark	Counterparties	Annual Financing Rate Received (Paid)%			Expiration Date	Payment Frequency Received/ (Paid)	Notional Amount Long (Short)			Value/ Unrealized Appreciation/ (Depreciation)(a)
Consumer Discretionary Select Sector SPDR Fund	Morgan Stanley		2.89		7/02/2020	Monthly	$	414,190		$	–
Consumer Discretionary Select Sector SPDR Fund	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		414,190			–
Energy Select Sector SPDR Fund	Morgan Stanley		2.42		7/02/2020	Monthly		(128,786	)		–
Energy Select Sector SPDR Fund	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(128,786	)		–
Financial Select Sector SPDR Fund	Morgan Stanley		2.89		7/02/2020	Monthly		619,268			–
FlexShares Global Upstream Natural Resources Index Fund	Morgan Stanley		2.89		7/02/2020	Monthly		164,879			–
FlexShares Global Upstream Natural Resources Index Fund	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		164,879			–
Goldman Sachs Access Treasury 0-1 Year ETF	Morgan Stanley		2.89		7/02/2020	Monthly		1,113,985			–
Goldman Sachs Access Treasury 0-1 Year ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		1,113,985			–
Graniteshares Gold Trust	Morgan Stanley		(7.65	)	7/02/2020	Monthly		(14,038	)		–
Graniteshares Gold Trust	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(14,038	)		–
Health Care Select Sector SPDR Fund	Morgan Stanley		2.89		7/02/2020	Monthly		407,852			–
Invesco CurrencyShares Australian Dollar Trust	Morgan Stanley		(2.45	)	7/02/2020	Monthly		(549,373	)		–
Invesco CurrencyShares Australian Dollar Trust	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(549,373	)		–
Invesco CurrencyShares British Pound Sterling Trust	Morgan Stanley		2.89		7/02/2020	Monthly		354			–
Invesco CurrencyShares British Pound Sterling Trust	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		354			–
Invesco CurrencyShares Euro Currency Trust	Morgan Stanley		2.89		7/02/2020	Monthly		1,000,065			–
Invesco CurrencyShares Euro Currency Trust	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		1,000,065			–
Invesco CurrencyShares Japanese Yen Trust	Morgan Stanley		2.89		7/02/2020	Monthly		469,068			–
Invesco CurrencyShares Japanese Yen Trust	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		469,068			–
Invesco DB U.S. Dollar Index Bullish Fund	Morgan Stanley		2.89		7/02/2020	Monthly		248,081			–
Invesco DB U.S. Dollar Index Bullish Fund	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		248,081			–
Invesco KBW Bank ETF	Morgan Stanley		2.89		7/02/2020	Monthly		35,032			–
Invesco KBW Bank ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		35,018			–
Invesco Preferred ETF	Morgan Stanley		2.89		7/02/2020	Monthly		39,571			–
Invesco Preferred ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		39,571			–
Invesco S&P 500 Low Volatility ETF	Morgan Stanley		1.00		7/02/2020	Monthly		(1,768,782	)		–
Invesco S&P 500 Low Volatility ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(1,768,782	)		–
Invesco Senior Loan ETF	Morgan Stanley		2.89		7/02/2020	Monthly		1,488,708			–
Invesco Senior Loan ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		1,488,708			–
Invesco Treasury Collateral ETF	Morgan Stanley		2.89		7/02/2020	Monthly		193,088			–
Invesco Treasury Collateral ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		193,088			–
iPath Series B S&P 500 VIX Short-Term Futures ETN	Morgan Stanley		2.89		7/02/2020	Monthly		153,123			–
iPath Series B S&P 500 VIX Short-Term Futures ETN	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		153,123			–

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Multi-Strategy Tracker ETF (continued)

July 31, 2019 (unaudited)

Total Return Swap contracts outstanding at July 31, 2019: (continued)
Total Return Benchmark	Counterparties	Annual Financing Rate Received (Paid)%			Expiration Date	Payment Frequency Received/ (Paid)	Notional Amount Long (Short)			Value/ Unrealized Appreciation/ (Depreciation)(a)
iShares 0-5 Year High Yield Corporate Bond ETF	Morgan Stanley		2.89		7/02/2020	Monthly	$	388,860		$	–
iShares 0-5 Year High Yield Corporate Bond ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		388,860			–
iShares 20+ Year Treasury Bond ETF	Morgan Stanley		1.65		7/02/2020	Monthly		(296,212	)		–
iShares 20+ Year Treasury Bond ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(296,212	)		–
iShares 3-7 Year Treasury Bond ETF	Morgan Stanley		2.89		7/02/2020	Monthly		319,392			–
iShares 3-7 Year Treasury Bond ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		319,392			–
iShares Broad USD Investment Grade Corporate Bond ETF	Morgan Stanley		2.89		7/02/2020	Monthly		222,462			–
iShares Broad USD Investment Grade Corporate Bond ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		222,462			–
iShares China Large-Cap ETF	Morgan Stanley		2.89		7/02/2020	Monthly		1,418,690			–
iShares Core MSCI EAFE ETF	Morgan Stanley		2.04		7/02/2020	Monthly		(345,739	)		–
iShares Core MSCI EAFE ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(345,739	)		–
iShares Core MSCI Emerging Markets ETF	Morgan Stanley		2.04		7/02/2020	Monthly		(2,847,464	)		–
iShares Core MSCI Emerging Markets ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(2,847,464	)		–
iShares Core MSCI Europe ETF	Morgan Stanley		2.89		7/02/2020	Monthly		15,315			–
iShares Core MSCI Europe ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		15,315			–
iShares Core MSCI Pacific ETF	Morgan Stanley		2.89		7/02/2020	Monthly		418,929			–
iShares Core MSCI Pacific ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		418,929			–
iShares Core S&P U.S. Growth ETF	Morgan Stanley		(0.80	)	7/02/2020	Monthly		(171,804	)		–
iShares Core S&P U.S. Growth ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(171,804	)		–
iShares Core S&P U.S. Value ETF	Morgan Stanley		(2.90	)	7/02/2020	Monthly		(550,024	)		–
iShares Core S&P U.S. Value ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(549,928	)		–
iShares Core U.S. REIT ETF	Morgan Stanley		(3.00	)	7/02/2020	Monthly		(52,314	)		–
iShares Core U.S. REIT ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(52,314	)		–
iShares Edge MSCI Min Vol Emerging Markets ETF	Morgan Stanley		2.04		7/02/2020	Monthly		(1,529,479	)		–
iShares Edge MSCI Min Vol Emerging Markets ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(1,529,479	)		–
iShares Edge MSCI Min Vol USA ETF	Morgan Stanley		1.75		7/02/2020	Monthly		(4,389,936	)		–
iShares Edge MSCI Min Vol USA ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(4,389,936	)		–
iShares Edge MSCI USA Momentum Factor ETF	Morgan Stanley		2.89		7/02/2020	Monthly		466,984			–
iShares Edge MSCI USA Momentum Factor ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		466,984			–
iShares Floating Rate Bond ETF	Morgan Stanley		2.89		7/02/2020	Monthly		2,692,383			–
iShares Floating Rate Bond ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		2,692,383			–
iShares iBoxx $ Investment Grade Corporate Bond ETF	Morgan Stanley		2.89		7/02/2020	Monthly		2,346,231			–
iShares iBoxx $ Investment Grade Corporate Bond ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		2,346,231			–
iShares iBoxx High Yield Corporate Bond ETF	Morgan Stanley		0.75		7/02/2020	Monthly		(3,567,607	)		–
iShares iBoxx High Yield Corporate Bond ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(3,567,607	)		–
iShares J.P. Morgan USD Emerging Markets Bond ETF	Morgan Stanley		2.89		7/02/2020	Monthly		771,774			–

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Multi-Strategy Tracker ETF (continued)

July 31, 2019 (unaudited)

Total Return Swap contracts outstanding at July 31, 2019: (continued)
Total Return Benchmark	Counterparties	Annual Financing Rate Received (Paid)%			Expiration Date	Payment Frequency Received/ (Paid)	Notional Amount Long (Short)			Value/ Unrealized Appreciation/ (Depreciation)(a)
iShares J.P. Morgan USD Emerging Markets Bond ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly	$	771,774		$	–
iShares MBS ETF	Morgan Stanley		2.89		7/02/2020	Monthly		776,195			–
iShares MBS ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		776,195			–
iShares MSCI All Country Asia ex Japan ETF	Morgan Stanley		2.89		7/02/2020	Monthly		446,247			–
iShares MSCI All Country Asia ex Japan ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		446,247			–
iShares MSCI China ETF	Morgan Stanley		2.89		7/02/2020	Monthly		1,135,020			–
iShares MSCI EAFE Growth ETF	Morgan Stanley		2.89		7/02/2020	Monthly		346,948			–
iShares MSCI EAFE Growth ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		346,948			–
iShares MSCI Eurozone ETF	Morgan Stanley		2.89		7/02/2020	Monthly		28,248			–
iShares MSCI Eurozone ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		28,248			–
iShares MSCI Japan ETF	Morgan Stanley		2.89		7/02/2020	Monthly		550,729			–
iShares MSCI Japan ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		550,729			–
iShares Preferred & Income Securities ETF	Morgan Stanley		2.89		7/02/2020	Monthly		118,474			–
iShares Preferred & Income Securities ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		118,474			–
iShares Russell 2000 ETF	Morgan Stanley		2.89		7/02/2020	Monthly		147,949			–
iShares Russell 2000 ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		147,949			–
iShares Russell 2000 Growth ETF	Morgan Stanley		2.89		7/02/2020	Monthly		19,128			–
iShares Russell 2000 Growth ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		19,128			–
iShares Russell 2000 Value ETF	Morgan Stanley		1.63		7/02/2020	Monthly		(1,687,755	)		–
iShares Russell 2000 Value ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(1,687,755	)		–
iShares S&P Small-Cap 600 Growth ETF	Morgan Stanley		2.89		7/02/2020	Monthly		11,430			–
iShares S&P Small-Cap 600 Growth ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		11,430			–
iShares S&P Small-Cap 600 Value ETF	Morgan Stanley		2.04		7/02/2020	Monthly		(1,036,988	)		–
iShares S&P Small-Cap 600 Value ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(1,036,988	)		–
iShares Short Treasury Bond ETF	Morgan Stanley		2.89		7/02/2020	Monthly		8,633,006			–
iShares Short Treasury Bond ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		8,633,006			–
iShares Silver Trust	Morgan Stanley		2.89		7/02/2020	Monthly		250,448			–
iShares Silver Trust	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		250,448			–
Schwab Intermediate-Term U.S. Treasury ETF	Morgan Stanley		2.89		7/02/2020	Monthly		186,840			–
Schwab Intermediate-Term U.S. Treasury ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		186,840			–
Schwab International Small-Cap Equity ETF	Morgan Stanley		2.89		7/02/2020	Monthly		973,278			–
Schwab International Small-Cap Equity ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		973,278			–
Schwab U.S. Large-Cap Growth ETF	Morgan Stanley		2.04		7/02/2020	Monthly		(202,624	)		–
Schwab U.S. Large-Cap Growth ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(202,624	)		–
Schwab U.S. Large-Cap Value ETF	Morgan Stanley		(1.65	)	7/02/2020	Monthly		(576,537	)		–
Schwab U.S. Large-Cap Value ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(576,537	)		–
Schwab U.S. REIT ETF	Morgan Stanley		(0.65	)	7/02/2020	Monthly		(198,570	)		–
Schwab U.S. REIT ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(198,570	)		–
Schwab U.S. Small-Cap ETF	Morgan Stanley		2.89		7/02/2020	Monthly		29,258			–
Schwab U.S. Small-Cap ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		29,258			–

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Multi-Strategy Tracker ETF (continued)

July 31, 2019 (unaudited)

Total Return Swap contracts outstanding at July 31, 2019: (continued)
Total Return Benchmark	Counterparties	Annual Financing Rate Received (Paid)%			Expiration Date	Payment Frequency Received/ (Paid)	Notional Amount Long (Short)			Value/ Unrealized Appreciation/ (Depreciation)(a)
SPDR Blackstone / GSO Senior Loan ETF	Morgan Stanley		2.89		7/02/2020	Monthly	$	778,558		$	–
SPDR Blackstone / GSO Senior Loan ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		778,558			–
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF	Morgan Stanley		2.89		7/02/2020	Monthly		3,267,362			–
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		3,267,362			–
SPDR Bloomberg Barclays Convertible Securities ETF	Morgan Stanley		1.50		7/02/2020	Monthly		(3,024,088	)		–
SPDR Bloomberg Barclays Convertible Securities ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(3,024,088	)		–
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF	Morgan Stanley		2.89		7/02/2020	Monthly		109,527			–
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		109,527			–
SPDR Bloomberg Barclays High Yield Bond ETF	Morgan Stanley		1.25		7/02/2020	Monthly		(1,901,302	)		–
SPDR Bloomberg Barclays High Yield Bond ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(1,901,302	)		–
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF	Morgan Stanley		2.89		7/02/2020	Monthly		1,103,720			–
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		1,103,720			–
SPDR Bloomberg Barclays Short Term High Yield Bond ETF	Morgan Stanley		2.89		7/02/2020	Monthly		387,811			–
SPDR Bloomberg Barclays Short Term High Yield Bond ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		387,811			–
SPDR Dow Jones International Real Estate ETF	Morgan Stanley		1.70		7/02/2020	Monthly		(2,704,584	)		–
SPDR Dow Jones International Real Estate ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(2,704,584	)		–
SPDR Gold MiniShares Trust	Morgan Stanley		(1.05	)	7/02/2020	Monthly		(20,358	)		–
SPDR Gold MiniShares Trust	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(20,358	)		–
SPDR Gold Shares	Morgan Stanley		2.04		7/02/2020	Monthly		(924,344	)		–
SPDR Gold Shares	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(924,344	)		–
SPDR Portfolio Long Term Treasury ETF	Morgan Stanley		(1.00	)	7/02/2020	Monthly		(48,705	)		–
SPDR Portfolio Long Term Treasury ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(48,705	)		–
SPDR Portfolio S&P 500 Growth ETF	Morgan Stanley		-		7/02/2020	Monthly		(138,505	)		–
SPDR Portfolio S&P 500 Growth ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(138,505	)		–
SPDR Portfolio S&P 500 Value ETF	Morgan Stanley		(7.50	)	7/02/2020	Monthly		(279,006	)		–
SPDR Portfolio S&P 500 Value ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		(279,006	)		–
SPDR Portfolio Short Term Corporate Bond ETF	Morgan Stanley		2.89		7/02/2020	Monthly		17,393			–
SPDR Portfolio Short Term Corporate Bond ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		17,393			–
SPDR S&P Bank ETF	Morgan Stanley		2.89		7/02/2020	Monthly		104,672			–
SPDR S&P Bank ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		104,672			–
SPDR S&P China ETF	Morgan Stanley		2.89		7/02/2020	Monthly		328,272			–
SPDR S&P Emerging Markets SmallCap ETF	Morgan Stanley		2.89		7/02/2020	Monthly		872,111			–
SPDR S&P Emerging Markets SmallCap ETF	Bank of America Merrill Lynch		2.90		9/30/2020	Monthly		872,111			–

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Multi-Strategy Tracker ETF (continued)

July 31, 2019 (unaudited)

Total Return Swap contracts outstanding at July 31, 2019: (continued)
Total Return Benchmark	Counterparties	Annual Financing Rate Received (Paid)%		Expiration Date	Payment Frequency Received/ (Paid)	Notional Amount Long (Short)			Value/ Unrealized Appreciation/ (Depreciation)(a)
Technology Select Sector SPDR Fund	Morgan Stanley		2.89	7/02/2020	Monthly	$	19,304		$	–
VanEck Vectors High-Yield Municipal Index ETF	Morgan Stanley		2.89	7/02/2020	Monthly		123,703			–
VanEck Vectors High-Yield Municipal Index ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		123,703			–
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF	Morgan Stanley		2.89	7/02/2020	Monthly		710,995			–
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		710,995			–
Vanguard Emerging Markets Government Bond ETF	Morgan Stanley		2.89	7/02/2020	Monthly		67,783			–
Vanguard Emerging Markets Government Bond ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		67,783			–
Vanguard FTSE All World ex-U.S. Small-Cap ETF	Morgan Stanley		2.89	7/02/2020	Monthly		2,361,870			–
Vanguard FTSE All World ex-U.S. Small-Cap ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		2,361,870			–
Vanguard FTSE Developed Markets ETF	Morgan Stanley		2.04	7/02/2020	Monthly		(380,897	)		–
Vanguard FTSE Developed Markets ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		(380,897	)		–
Vanguard FTSE Emerging Markets ETF	Morgan Stanley		2.04	7/02/2020	Monthly		(3,094,082	)		–
Vanguard FTSE Emerging Markets ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		(3,094,082	)		–
Vanguard FTSE Europe ETF	Morgan Stanley		2.89	7/02/2020	Monthly		64,324			–
Vanguard FTSE Europe ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		64,324			–
Vanguard FTSE Pacific ETF	Morgan Stanley		2.89	7/02/2020	Monthly		114,108			–
Vanguard FTSE Pacific ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		114,108			–
Vanguard Growth ETF	Morgan Stanley		1.38	7/02/2020	Monthly		(1,062,843	)		–
Vanguard Growth ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		(1,062,843	)		–
Vanguard Intermediate-Term Corporate Bond ETF	Morgan Stanley		2.89	7/02/2020	Monthly		1,531,871			–
Vanguard Intermediate-Term Corporate Bond ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		1,531,871			–
Vanguard Intermediate-Term Treasury ETF	Morgan Stanley		2.89	7/02/2020	Monthly		164,121			–
Vanguard Intermediate-Term Treasury ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		164,121			–
Vanguard Long-Term Treasury ETF	Morgan Stanley		2.04	7/02/2020	Monthly		(23,944	)		–
Vanguard Long-Term Treasury ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		(23,944	)		–
Vanguard Mortgage-Backed Securities ETF	Morgan Stanley		2.89	7/02/2020	Monthly		451,928			–
Vanguard Mortgage-Backed Securities ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		451,928			–
Vanguard Real Estate ETF	Morgan Stanley		2.04	7/02/2020	Monthly		(1,220,904	)		–
Vanguard Real Estate ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		(1,220,904	)		–
Vanguard Short-Term Corporate Bond ETF	Morgan Stanley		2.89	7/02/2020	Monthly		79,542			–
Vanguard Short-Term Corporate Bond ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		79,542			–
Vanguard Small-Cap ETF	Morgan Stanley		2.89	7/02/2020	Monthly		88,782			–
Vanguard Small-Cap ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		88,782			–
Vanguard Small-Cap Growth ETF	Morgan Stanley		2.89	7/02/2020	Monthly		19,137			–
Vanguard Small-Cap Growth ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		19,137			–
Vanguard Small-Cap Value ETF	Morgan Stanley		1.00	7/02/2020	Monthly		(2,271,876	)		–
Vanguard Small-Cap Value ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		(2,271,876	)		–
Vanguard Value ETF	Morgan Stanley		1.50	7/02/2020	Monthly		(4,722,444	)		–

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Multi-Strategy Tracker ETF (continued)

July 31, 2019 (unaudited)

Total Return Swap contracts outstanding at July 31, 2019: (continued)
Total Return Benchmark	Counterparties	Annual Financing Rate Received (Paid)%		Expiration Date	Payment Frequency Received/ (Paid)	Notional Amount Long (Short)			Value/ Unrealized Appreciation/ (Depreciation)(a)
Vanguard Value ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly	$	(4,722,444	)	$	–
WisdomTree Emerging Markets Local Debt Fund	Morgan Stanley		2.89	7/02/2020	Monthly		25,418			–
WisdomTree Emerging Markets Local Debt Fund	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		25,418			–
Xtrackers MSCI EAFE Hedged Equity ETF	Morgan Stanley		2.89	7/02/2020	Monthly		1,159,095			–
Xtrackers MSCI EAFE Hedged Equity ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		1,159,095			–
Xtrackers MSCI Europe Hedged Equity ETF	Morgan Stanley		2.89	7/02/2020	Monthly		793,480			–
Xtrackers MSCI Europe Hedged Equity ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		793,480			–
Xtrackers MSCI Japan Hedged Equity ETF	Morgan Stanley		2.89	7/02/2020	Monthly		573,973			–
Xtrackers MSCI Japan Hedged Equity ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		573,973			–
Xtrackers USD High Yield Corporate Bond ETF	Morgan Stanley		2.04	7/02/2020	Monthly		(583,066	)		–
Xtrackers USD High Yield Corporate Bond ETF	Bank of America Merrill Lynch		2.90	9/30/2020	Monthly		(583,066	)		–
									$	–

Cash posted has been segregated as collateral for swaps (counterparty Merrill Lynch) in the amount of $50,000 at July 31, 2019.

The total value of securities segregated as collateral for swap contracts with counterparty Morgan Stanley amounted to $701,267 and with Bank of America Merrill Lynch amounted to $– at July 31, 2019. The Fund either receives fees from, or pays to the counterparty, the total return of the benchmark and the agreed-upon financing rate.

___________

(a) Reflects the value at reset date of July 31, 2019.

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Investments in Securities:(a)
Exchange Traded Note	$	3,034,783	$	–	$	–	$	3,034,783
Exchange Traded Vehicles		39,006,668		–		–		39,006,668
Investment Companies		798,719,132		–		–		798,719,132
Short-Term Investment:
Money Market Fund		1,066,517		–		–		1,066,517
Investment of Cash Collateral for Securities Loaned:
Money Market Fund		96,513,866		–		–		96,513,866
Total Investments in Securities		938,340,966		–		–		938,340,966
Other Financial Instruments:(b)
Swap Contracts		–		–		–		–
Total Investments in Securities and Other Financial Instruments	$	938,340,966	$	–	$	–	$	938,340,966
Liability Valuation Inputs
Description		Level 1		Level 2		Level 3		Total
Other Financial Instruments:(b)
Swap Contracts	$	–	$	–	$	–	$	–

(a) For a complete listing of investments and their industries, see the Schedules of Investments.

(b) Reflects the unrealized appreciation (depreciation) of the instruments.

For the period ended July 31, 2019, the Fund did not have any transfers between any levels within the fair value hierarchy. (See Note 1)

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Macro Tracker ETF

July 31, 2019 (unaudited)

	Shares		Value
Exchange Traded Vehicles — 7.4%
Euro Fund — 1.7%
Invesco CurrencyShares Euro Currency Trust*		854	$	89,901
Japanese Yen Fund — 2.0%
Invesco CurrencyShares Japanese Yen Trust*		1,221		106,813
Silver Fund — 1.0%
iShares Silver Trust*(a)		3,525		53,615
U.S. Dollar Fund — 2.7%
Invesco DB U.S. Dollar Index Bullish Fund(a)		5,230		139,798
Total Exchange Traded Vehicles
(Cost $381,849)				390,127
Investment Companies — 92.4%
BRIC Equity Funds — 10.7%
iShares China Large-Cap ETF(a)		6,698		275,288
iShares MSCI China ETF(a)		3,767		220,257
SPDR S&P China ETF		678		63,718
Total BRIC Equity Funds				559,263
Broad Fund — 1.2%
FlexShares Global Upstream Natural Resources Index Fund		1,976		63,983
Emerging Bonds - Local Currency Funds — 2.6%
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF		631		17,555
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF		3,292		113,903
WisdomTree Emerging Markets Local Debt Fund(a)		114		4,058
Total Emerging Bonds - Local Currency Funds				135,516
Emerging Bonds - USD Funds — 2.6%
iShares J.P. Morgan USD Emerging Markets Bond ETF(a)		1,103		125,389
Vanguard Emerging Markets Government Bond ETF		136		11,027
Total Emerging Bonds - USD Funds				136,416
Emerging Small Cap Equity Fund — 2.6%
SPDR S&P Emerging Markets SmallCap ETF		3,039		135,387
Europe Equity Fund — 3.5%
Xtrackers MSCI Europe Hedged Equity ETF		6,175		180,742
Floating Rate - Investment Grade Fund — 16.2%
iShares Floating Rate Bond ETF(a)		11,823		602,263
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF		8,032		246,904
Total Floating Rate - Investment Grade Funds				849,167
International Small Cap Equity Funds — 6.3%
Schwab International Small-Cap Equity ETF		3,035		96,999
Vanguard FTSE All World ex-U.S. Small-Cap ETF		2,285		235,332
Total International Small Cap Equity Funds				332,331
		Shares		Value
Investment Companies (continued)
Investment Grade Corporate Bond Funds — 4.3%
SPDR Portfolio Short Term Corporate Bond ETF(a)		1,321	$	40,594
Vanguard Short-Term Corporate Bond ETF		2,302		185,518
Total Investment Grade Corporate Bond Funds				226,112
Japan Equity Fund — 2.5%
Xtrackers MSCI Japan Hedged Equity ETF		3,407		130,761
U.S. Large Cap Core Fund — 0.9%
Energy Select Sector SPDR Fund		750		47,025
U.S. Large Cap Growth Funds — 1.1%
iShares Core S&P U.S. Growth ETF(a)		99		6,286
Schwab U.S. Large-Cap Growth ETF		87		7,376
SPDR Portfolio S&P 500 Growth ETF(a)		129		5,053
Vanguard Growth ETF		232		38,776
Total U.S. Large Cap Growth Funds				57,491
U.S. Medium Term Treasury Bond Funds — 4.3%
iShares 3-7 Year Treasury Bond ETF		858		107,550
Schwab Intermediate-Term U.S. Treasury ETF		1,147		62,902
Vanguard Intermediate-Term Treasury ETF		840		55,255
Total U.S. Medium Term Treasury Bond Funds				225,707
U.S. Small Cap Core Funds — 2.0%
iShares Russell 2000 ETF(a)		367		57,458
Schwab U.S. Small-Cap ETF		157		11,370
Vanguard Small-Cap ETF		217		34,403
Total U.S. Small Cap Core Funds				103,231
U.S. Ultra Short Term Treasury Bond Funds — 31.6%
Goldman Sachs Access Treasury 0-1 Year ETF(a)		1,393		139,788
Invesco Treasury Collateral ETF		230		24,281
iShares Short Treasury Bond ETF(b)		9,794		1,083,412
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF		4,476		410,046
Total U.S. Ultra Short Term Treasury Bond Funds				1,657,527
Total Investment Companies
(Cost $4,835,802)				4,840,659
Short-Term Investment — 0.2%
Money Market Fund — 0.2%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 2.34%(c)
(Cost $9,066)		9,066		9,066
Investment of Cash Collateral For Securities Loaned — 17.0%
Money Market Fund — 17.0%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.26%(c)
(Cost $888,904)		888,904		888,904

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Macro Tracker ETF (continued)

July 31, 2019 (unaudited)

	Value
Total Investments — 117.0%
(Cost $6,115,621)	$	6,128,756
Other Assets and Liabilities, Net — (17.0)%		(887,699	)
Net Assets — 100.0%	$	5,241,058

1

*	Non-income producing securities.
(a)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $1,368,844; total market value of collateral held by the Fund was $1,405,733.  Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $516,829.
(b)	All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $262,146.
(c)	Reflects the 1-day yield at July 31, 2019.

1

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Macro Tracker ETF (continued)

July 31, 2019 (unaudited)

Total Return Swap contracts outstanding at July 31, 2019:              

		Annual Financing			Payment		Notional			Value/
		Rate			Frequency		Amount			Unrealized
		Received	Expiration		Received/		Long			Appreciation/
Total Return Benchmark	Counterparty	(Paid) %	Date		(Paid)		(Short)			(Depreciation)(d)
Energy Select Sector SPDR Fund	Morgan Stanley	2.89		7/02/2020		Monthly	$	4,703		$	–
FlexShares Global Upstream Natural Resources Index Fund	Morgan Stanley	2.89		7/02/2020		Monthly		6,411			–
Goldman Sachs Access Treasury 0-1 Year ETF	Morgan Stanley	2.89		7/02/2020		Monthly		14,049			–
Graniteshares Gold Trust	Morgan Stanley	(7.65)		5/04/2020		Monthly		(380	)		–
Invesco CurrencyShares Euro Currency Trust	Morgan Stanley	2.89		7/02/2020		Monthly		9,053			–
Invesco CurrencyShares Japanese Yen Trust	Morgan Stanley	2.89		7/02/2020		Monthly		10,673			–
Invesco DB US Dollar Index Bullish Fund	Morgan Stanley	2.89		7/02/2020		Monthly		14,007			–
Invesco Treasury Collateral ETF	Morgan Stanley	2.89		7/02/2020		Monthly		2,428			–
iShares 20+ Year Treasury Bond ETF	Morgan Stanley	1.65		5/04/2020		Monthly		(30,830	)		–
iShares 3-7 Year Treasury Bond ETF	Morgan Stanley	2.89		7/02/2020		Monthly		10,780			–
iShares Broad USD Investment Grade Corporate Bond ETF	Morgan Stanley	2.04		5/04/2020		Monthly		(57	)		–
iShares China Large-Cap ETF	Morgan Stanley	2.89		7/02/2020		Monthly		27,578			–
iShares Core MSCI Emerging Markets ETF	Morgan Stanley	2.04		5/04/2020		Monthly		(46,718	)		–
iShares Core MSCI Europe ETF	Morgan Stanley	2.04		5/04/2020		Monthly		(5,483	)		–
iShares Core S&P U.S. Growth ETF	Morgan Stanley	2.89		7/02/2020		Monthly		635			–
iShares Core S&P U.S. Value ETF	Morgan Stanley	(2.90)		5/04/2020		Monthly		(3,800	)		–
iShares Edge MSCI Min Vol Emerging Markets ETF	Morgan Stanley	2.04		5/04/2020		Monthly		(92,207	)		–
iShares Floating Rate Bond ETF	Morgan Stanley	2.89		7/02/2020		Monthly		60,364			–
iShares iBoxx $ High Yield Corporate Bond ETF	Morgan Stanley	0.75		5/04/2020		Monthly		(24,688	)		–
iShares iBoxx $ Investment Grade Corporate Bond ETF	Morgan Stanley	2.04		5/04/2020		Monthly		(622	)		–
iShares J.P. Morgan USD Emerging Markets Bond ETF	Morgan Stanley	2.89		7/02/2020		Monthly		12,618			–
iShares MSCI China ETF	Morgan Stanley	2.89		7/02/2020		Monthly		22,102			–
iShares MSCI Eurozone ETF	Morgan Stanley	1.13		5/04/2020		Monthly		(10,160	)		–
iShares MSCI Japan ETF	Morgan Stanley	2.04		5/04/2020		Monthly		(41,795	)		–
iShares Russell 2000 ETF	Morgan Stanley	2.89		7/02/2020		Monthly		5,793			–
iShares Short Treasury Bond ETF	Morgan Stanley	2.89		7/02/2020		Monthly		108,629			–
iShares Silver Trust	Morgan Stanley	2.89		7/02/2020		Monthly		5,369			–
Schwab Intermediate-Term U.S. Treasury ETF	Morgan Stanley	2.89		7/02/2020		Monthly		6,307			–
Schwab International Small-Cap Equity ETF	Morgan Stanley	2.89		7/02/2020		Monthly		9,716			–
Schwab U.S. Large-Cap Growth ETF	Morgan Stanley	2.89		7/02/2020		Monthly		763			–
Schwab U.S. Large-Cap Value ETF	Morgan Stanley	(1.65)		5/04/2020		Monthly		(3,968	)		–
Schwab U.S. Small-Cap ETF	Morgan Stanley	2.89		7/02/2020		Monthly		1,159			–
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF	Morgan Stanley	2.89		7/02/2020		Monthly		41,133			–
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF	Morgan Stanley	2.89		7/02/2020		Monthly		1,753			–
SPDR Bloomberg Barclays High Yield Bond ETF	Morgan Stanley	1.25		5/04/2020		Monthly		(13,139	)		–

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Macro Tracker ETF (continued)

July 31, 2019 (unaudited)

Total Return Swap contracts outstanding at July 31, 2019: (continued)              

		Annual Financing			Payment		Notional			Value/
		Rate			Frequency		Amount			Unrealized
		Received	Expiration		Received/		Long			Appreciation/
Total Return Benchmark	Counterparty	(Paid) %	Date		(Paid)		(Short)			(Depreciation)(d)
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF	Morgan Stanley	2.89		7/02/2020		Monthly	$	24,746		$	–
SPDR Dow Jones International Real Estate ETF	Morgan Stanley	1.70		5/04/2020		Monthly		(99,164	)		–
SPDR Gold MiniShares Trust	Morgan Stanley	(1.05)		5/04/2020		Monthly		(550	)		–
SPDR Gold Shares	Morgan Stanley	2.04		5/04/2020		Monthly		(24,910	)		–
SPDR Portfolio Long Term Treasury ETF	Morgan Stanley	(1.00)		5/04/2020		Monthly		(5,046	)		–
SPDR Portfolio S&P 500 Growth ETF	Morgan Stanley	2.89		7/02/2020		Monthly		509			–
SPDR Portfolio S&P 500 Value ETF	Morgan Stanley	(7.50)		5/04/2020		Monthly		(1,940	)		–
SPDR Portfolio Short Term Corporate Bond ETF	Morgan Stanley	2.89		7/02/2020		Monthly		4,056			–
SPDR S&P China ETF	Morgan Stanley	2.89		7/02/2020		Monthly		6,391			–
SPDR S&P Emerging Markets SmallCap ETF	Morgan Stanley	2.89		7/02/2020		Monthly		13,588			–
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF	Morgan Stanley	2.89		7/02/2020		Monthly		11,418			–
Vanguard Emerging Markets Government Bond ETF	Morgan Stanley	2.89		7/02/2020		Monthly		1,135			–
Vanguard FTSE All World ex-U.S. Small-Cap ETF	Morgan Stanley	2.89		7/02/2020		Monthly		23,585			–
Vanguard FTSE Emerging Markets ETF	Morgan Stanley	2.04		5/04/2020		Monthly		(50,780	)		–
Vanguard FTSE Europe ETF	Morgan Stanley	2.39		5/04/2020		Monthly		(23,099	)		–
Vanguard Growth ETF	Morgan Stanley	2.89		7/02/2020		Monthly		3,844			–
Vanguard Intermediate-Term Corporate Bond ETF	Morgan Stanley	2.04		5/04/2020		Monthly		(359	)		–
Vanguard Intermediate-Term Treasury ETF	Morgan Stanley	2.89		7/02/2020		Monthly		5,526			–
Vanguard Long-Term Treasury ETF	Morgan Stanley	2.04		5/04/2020		Monthly		(2,452	)		–
Vanguard Short-Term Corporate Bond ETF	Morgan Stanley	2.89		7/02/2020		Monthly		18,616			–
Vanguard Small-Cap ETF	Morgan Stanley	2.89		7/02/2020		Monthly		3,488			–
Vanguard Value ETF	Morgan Stanley	1.50		5/04/2020		Monthly		(32,657	)		–
WisdomTree Emerging Markets Local Debt Fund	Morgan Stanley	2.89		7/02/2020		Monthly		392			–
Xtrackers MSCI Europe Hedged Equity ETF	Morgan Stanley	2.89		7/02/2020		Monthly		18,118			–
Xtrackers MSCI Japan Hedged Equity ETF	Morgan Stanley	2.89		7/02/2020		Monthly		13,088			–
Xtrackers USD High Yield Corporate Bond ETF	Morgan Stanley	2.04		5/04/2020		Monthly		(4,053	)		–
										$	–

The total value of securities segregated as collateral for swap contracts with counterparty Morgan Stanley amounted to $262,146 at July 31, 2019. The Fund either receives fees from, or pays to the counterparty, the total return of the benchmark and the agreed-upon financing rate.

___________

(d) Reflects the value at reset date of July 31, 2019.

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Macro Tracker ETF (continued)

July 31, 2019 (unaudited)

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Investments in Securities:(e)
Exchange Traded Vehicles	$	390,127	$	–	$	–	$	390,127
Investment Companies		4,840,659		–		–		4,840,659
Short-Term Investment:
Money Market Fund		9,066		–		–		9,066
Investment of Cash Collateral for Securities Loaned:
Money Market Fund		888,904		–		–		888,904
Total Investments in Securities		6,128,756		–		–		6,128,756
Other Financial Instruments:(f)
Swap Contracts		–		–		–		–
Total Investments in Securities and Other Financial Instruments	$	6,128,756	$	–	$	–	$	6,128,756
Liability Valuation Inputs
Description	Level 1		Level 2		Level 3		Total
Other Financial Instruments:(f)
Swap Contracts	$	–	$	–	$	–	$	–

(e)	For a complete listing of investments and their industries, see the Schedules of Investments.
(f)	Reflects the unrealized appreciation (depreciation) of the instruments.

For the period ended July 31, 2019, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Market Neutral Tracker ETF

July 31, 2019 (unaudited)

	Shares		Value
Exchange Traded Vehicles — 1.7%
British Pound Fund — 0.0%(a)
Invesco CurrencyShares British Pound Sterling Trust*		1	$	118
Euro Fund — 1.7%
Invesco CurrencyShares Euro Currency Trust*		2,088		219,804
Total Exchange Traded Vehicles
(Cost $226,023)				219,922
Investment Companies — 98.3%
Asia ex Japan Equity Funds — 4.7%
iShares Core MSCI Pacific ETF		4,778		264,558
iShares MSCI All Country Asia ex Japan ETF		4,153		281,822
Vanguard FTSE Pacific ETF		1,106		72,034
Total Asia ex Japan Equity Funds				618,414
Bank Loan Funds — 9.3%
Invesco Senior Loan ETF(b)		35,306		805,683
SPDR Blackstone / GSO Senior Loan ETF		9,066		421,297
Total Bank Loan Funds				1,226,980
Europe Equity Funds — 1.6%
iShares Core MSCI Europe ETF		666		30,177
iShares MSCI Eurozone ETF		1,450		55,803
Vanguard FTSE Europe ETF		2,375		126,991
Total Europe Equity Funds				212,971
Floating Rate - Investment Grade Funds — 4.3%
iShares Floating Rate Bond ETF(b)		7,872		401,000
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF		5,347		164,367
Total Floating Rate - Investment Grade Funds				565,367
High Yield Corporate Bond Funds — 2.1%
iShares 0-5 Year High Yield Corporate Bond ETF		2,935		136,683
SPDR Bloomberg Barclays Short Term High Yield Bond ETF		5,023		136,374
Total High Yield Corporate Bond Funds				273,057
International Small Cap Equity Funds — 7.5%
Schwab International Small-Cap Equity ETF		9,091		290,548
Vanguard FTSE All World ex-U.S. Small-Cap ETF		6,845		704,967
Total International Small Cap Equity Funds				995,515
Investment Grade Corporate Bond Funds — 14.2%
iShares Broad USD Investment Grade Corporate Bond ETF		1,774		101,296
iShares iBoxx $ Investment Grade Corporate Bond ETF(b)		8,589		1,067,870
Vanguard Intermediate-Term Corporate Bond ETF		7,763		697,350
Total Investment Grade Corporate Bond Funds				1,866,516
Japan Equity Fund — 3.8%
iShares MSCI Japan ETF(b)		9,275		504,096
Mortgage Backed Securities Funds — 3.3%
iShares MBS ETF		2,534		272,988
		Shares		Value
Investment Companies (continued)
Mortgage Backed Securities Funds (continued)
Vanguard Mortgage-Backed Securities ETF		3,001	$	158,903
Total Mortgage Backed Securities Funds				431,891
Municipal Bond — 0.3%
VanEck Vectors High-Yield Municipal Index ETF		682		43,532
U.S. Large Cap Core Funds — 0.4%
Invesco KBW Bank ETF		235		12,356
SPDR S&P Bank ETF(b)		823		36,846
Total U.S. Large Cap Core Funds				49,202
U.S. Preferred Funds — 0.1%
Invesco Preferred ETF(b)		196		2,922
iShares Preferred & Income Securities ETF		234		8,740
Total U.S. Preferred Funds				11,662
U.S. Small Cap Growth Funds — 2.6%
iShares Russell 2000 Growth ETF(b)		645		131,251
iShares S&P Small-Cap 600 Growth ETF		426		78,537
Vanguard Small-Cap Growth ETF		693		131,310
Total U.S. Small Cap Growth Funds				341,098
U.S. Ultra Short Term Treasury Bond Funds — 44.1%
Goldman Sachs Access Treasury 0-1 Year ETF		4,890		490,712
Invesco Treasury Collateral ETF		805		84,984
iShares Short Treasury Bond ETF		34,381		3,803,226
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF		15,713		1,439,468
Total U.S. Ultra Short Term Treasury Bond Funds				5,818,390
Total Investment Companies
(Cost $12,821,005)				12,958,691
Short-Term Investment — 0.2%
Money Market Fund — 0.2%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 2.34%(c)
(Cost $23,728)		23,728		23,728
Investment of Cash Collateral For Securities Loaned — 6.5%
Money Market Fund — 6.5%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.26%(c)
(Cost $855,879)		855,879		855,879
Total Investments — 106.7%
(Cost $13,926,635)				14,058,220
Other Assets and Liabilities, Net — (6.7)%				(878,751	)
Net Assets — 100.0%			$	13,179,469

_______________

1

*	Non-income producing securities.
(a)	Less than 0.05%.

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Market Neutral Tracker ETF (continued)

July 31, 2019 (unaudited)

(b)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $2,411,306; total market value of collateral held by the Fund was $2,464,006.  Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $1,608,127.
(c)	Reflects the 1-day yield at July 31, 2019.

1

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Market Neutral Tracker ETF (continued)

July 31, 2019 (unaudited)

Total Return Swap contracts outstanding at July 31, 2019:              

		Annual Financing			Payment		Notional			Value/
		Rate			Frequency		Amount			Unrealized
		Received	Expiration		Received/		Long			Appreciation/
Total Return Benchmark	Counterparty	(Paid) %	Date		(Paid)		(Short)			(Depreciation)(d)
Goldman Sachs Access Treasury 0-1 Year ETF	Morgan Stanley	2.89		7/02/2020		Monthly	$	49,774		$	–
Invesco CurrencyShares Australian Dollar Trust	Morgan Stanley	(2.45)		5/04/2020		Monthly		(21,958	)		–
Invesco CurrencyShares Euro Currency Trust	Morgan Stanley	2.89		7/02/2020		Monthly		22,317			–
Invesco DB U.S. Dollar Index Bullish Fund	Morgan Stanley	2.04		5/04/2020		Monthly		(199,299	)		–
Invesco KBW Bank ETF	Morgan Stanley	2.89		7/02/2020		Monthly		1,262			–
Invesco Preferred ETF	Morgan Stanley	2.89		7/02/2020		Monthly		298			–
Invesco S&P 500 Low Volatility ETF	Morgan Stanley	1.00		5/04/2020		Monthly		(56,429	)		–
Invesco Senior Loan ETF	Morgan Stanley	2.89		7/02/2020		Monthly		81,673			–
Invesco Treasury Collateral ETF	Morgan Stanley	2.89		7/02/2020		Monthly		8,657			–
iShares 0-5 Year High Yield Corporate Bond ETF	Morgan Stanley	2.89		7/02/2020		Monthly		13,878			–
iShares 3-7 Year Treasury Bond ETF	Morgan Stanley	1.50		5/04/2020		Monthly		(38,357	)		–
iShares Broad USD Investment Grade Corporate Bond ETF	Morgan Stanley	2.89		7/02/2020		Monthly		10,278			–
iShares Core MSCI Emerging Markets ETF	Morgan Stanley	2.04		5/04/2020		Monthly		(90,826	)		–
iShares Core MSCI Europe ETF	Morgan Stanley	2.89		7/02/2020		Monthly		3,081			–
iShares Core MSCI Pacific ETF	Morgan Stanley	2.89		7/02/2020		Monthly		26,799			–
iShares Core S&P U.S. Growth ETF	Morgan Stanley	(0.80)		5/04/2020		Monthly		(13,142	)		–
iShares Core S&P U.S. Value ETF	Morgan Stanley	(2.90)		5/04/2020		Monthly		(17,559	)		–
iShares Edge MSCI Min Vol USA ETF	Morgan Stanley	1.75		5/04/2020		Monthly		(140,018	)		–
iShares Floating Rate Bond ETF	Morgan Stanley	2.89		7/02/2020		Monthly		40,650			–
iShares iBoxx $ Investment Grade Corporate Bond ETF	Morgan Stanley	2.89		7/02/2020		Monthly		108,291			–
iShares iBoxx High Yield Corporate Bond ETF	Morgan Stanley	0.75		5/04/2020		Monthly		(47,464	)		–
iShares MBS ETF	Morgan Stanley	2.89		7/02/2020		Monthly		27,687			–
iShares MSCI All Country Asia ex Japan ETF	Morgan Stanley	2.89		7/02/2020		Monthly		28,569			–
iShares MSCI Eurozone ETF	Morgan Stanley	2.89		7/02/2020		Monthly		5,657			–
iShares MSCI Japan ETF	Morgan Stanley	2.89		7/02/2020		Monthly		51,089			–
iShares Preferred & Income Securities ETF	Morgan Stanley	2.89		7/02/2020		Monthly		896			–
iShares Russell 2000 Growth ETF	Morgan Stanley	2.89		7/02/2020		Monthly		13,227			–
iShares Russell 2000 Value ETF	Morgan Stanley	1.63		5/04/2020		Monthly		(65,923	)		–
iShares S&P Small-Cap 600 Growth ETF	Morgan Stanley	2.89		7/02/2020		Monthly		7,927			–
iShares S&P Small-Cap 600 Value ETF	Morgan Stanley	2.04		5/04/2020		Monthly		(40,498	)		–
iShares Short Treasury Bond ETF	Morgan Stanley	2.89		7/02/2020		Monthly		385,511			–
Schwab Intermediate-Term U.S. Treasury ETF	Morgan Stanley	(0.65)		5/04/2020		Monthly		(22,430	)		–
Schwab International Small-Cap Equity ETF	Morgan Stanley	2.89		7/02/2020		Monthly		29,467			–
Schwab U.S. Large-Cap Growth ETF	Morgan Stanley	2.04		5/04/2020		Monthly		(15,515	)		–
Schwab U.S. Large-Cap Value ETF	Morgan Stanley	(1.65)		5/04/2020		Monthly		(18,368	)		–
SPDR Blackstone / GSO Senior Loan ETF	Morgan Stanley	2.89		7/02/2020		Monthly		42,706			–
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF	Morgan Stanley	2.89		7/02/2020		Monthly		145,935			–

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Market Neutral Tracker ETF (continued)

July 31, 2019 (unaudited)

Total Return Swap contracts outstanding at July 31, 2019 (continued):              

		Annual Financing			Payment		Notional			Value/
		Rate			Frequency		Amount			Unrealized
		Received	Expiration		Received/		Long			Appreciation/
Total Return Benchmark	Counterparty	(Paid) %	Date		(Paid)		(Short)			(Depreciation)(d)
SPDR Bloomberg Barclays Convertible Securities ETF	Morgan Stanley	1.50		5/04/2020		Monthly	$	(52,933	)	$	–
SPDR Bloomberg Barclays High Yield Bond ETF	Morgan Stanley	1.25		5/04/2020		Monthly		(25,301	)		–
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF	Morgan Stanley	2.89		7/02/2020		Monthly		16,661			–
SPDR Bloomberg Barclays Short Term High Yield Bond ETF	Morgan Stanley	2.89		7/02/2020		Monthly		13,819			–
SPDR Portfolio S&P 500 Growth ETF	Morgan Stanley	0.00		5/04/2020		Monthly		(10,615	)		–
SPDR Portfolio S&P 500 Value ETF	Morgan Stanley	(7.50)		5/04/2020		Monthly		(8,907	)		–
SPDR S&P Bank ETF	Morgan Stanley	2.89		7/02/2020		Monthly		3,716			–
VanEck Vectors High-Yield Municipal Index ETF	Morgan Stanley	2.89		7/02/2020		Monthly		4,404			–
Vanguard FTSE All World ex-U.S. Small-Cap ETF	Morgan Stanley	2.89		7/02/2020		Monthly		71,475			–
Vanguard FTSE Emerging Markets ETF	Morgan Stanley	2.04		5/04/2020		Monthly		(98,679	)		–
Vanguard FTSE Europe ETF	Morgan Stanley	2.89		7/02/2020		Monthly		12,886			–
Vanguard FTSE Pacific ETF	Morgan Stanley	2.89		7/02/2020		Monthly		7,295			–
Vanguard Growth ETF	Morgan Stanley	1.38		5/04/2020		Monthly		(81,397	)		–
Vanguard Intermediate-Term Corporate Bond ETF	Morgan Stanley	2.89		7/02/2020		Monthly		70,696			–
Vanguard Intermediate-Term Treasury ETF	Morgan Stanley	2.04		5/04/2020		Monthly		(19,668	)		–
Vanguard Mortgage-Backed Securities ETF	Morgan Stanley	2.89		7/02/2020		Monthly		16,097			–
Vanguard Small-Cap Growth ETF	Morgan Stanley	2.89		7/02/2020		Monthly		13,264			–
Vanguard Small-Cap Value ETF	Morgan Stanley	1.00		5/04/2020		Monthly		(88,644	)		–
Vanguard Value ETF	Morgan Stanley	1.50		5/04/2020		Monthly		(150,648	)		–
Xtrackers USD High Yield Corporate Bond ETF	Morgan Stanley	2.04		5/04/2020		Monthly		(7,756	)		–
										$	–

At July 31, 2019 there was no collateral held or posted. The Fund either receives fees from, or pays to the counterparty, the total return of the benchmark and the agreed-upon financing rate.

_______________

(d) Reflects the value at reset date of July 31, 2019.

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Market Neutral Tracker ETF (continued)

July 31, 2019 (unaudited)

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Investments in Securities:(e)
Exchange Traded Vehicles	$	219,922	$	–	$	–	$	219,922
Investment Companies		12,958,691		–		–		12,958,691
Short-Term Investment:
Money Market Fund		23,728		–		–		23,728
Investment of Cash Collateral for Securities Loaned:
Money Market Fund		855,879		–		–		855,879
Total Investments in Securities		14,058,220		–		–		14,058,220
Other Financial Instruments:(f)
Swap Contracts		–		–		–		–
Total Investments in Securities and Other Financial Instruments	$	14,058,220	$	–	$	–	$	14,058,220
Liability Valuation Inputs
Description		Level 1		Level 2		Level 3		Total
Other Financial Instruments:(f)
Swap Contracts	$	–	$	–	$	–	$	–

(e)	For a complete listing of investments and their industries, see the Schedules of Investments.
(f)	Reflects the unrealized appreciation (depreciation) of the instruments.

For the period ended July 31, 2019, the Fund did not have any transfers in or out of level 3 within the fair value hierarchy. (See Note 1)

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Long/Short Tracker ETF

July 31, 2019 (unaudited)

	Shares		Value
Exchange Traded Note — 1.0%
Volatility Note — 1.0%
iPath Series B S&P 500 VIX Short-Term Futures ETN*
(Cost $67,389)		2,204	$	51,993
Investment Companies — 98.9%
Bank Loan Funds — 6.5%
Invesco Senior Loan ETF(a)		10,276		234,498
SPDR Blackstone / GSO Senior Loan ETF		2,639		122,635
Total Bank Loan Funds				357,133
International Equity Core Fund — 16.4%
Xtrackers MSCI EAFE Hedged Equity ETF(b)		28,064		892,155
International Large Cap Growth Fund — 4.9%
iShares MSCI EAFE Growth ETF		3,345		267,098
International Small Cap Equity Funds — 12.7%
Schwab International Small-Cap Equity ETF		6,341		202,659
Vanguard FTSE All World ex-U.S. Small-Cap ETF		4,776		491,880
Total International Small Cap Equity Funds				694,539
Investment Grade Corporate Bond Funds — 16.3%
iShares Broad USD Investment Grade Corporate Bond ETF		841		48,021
iShares iBoxx $ Investment Grade Corporate Bond ETF(a)		4,079		507,142
Vanguard Intermediate-Term Corporate Bond ETF		3,686		331,113
Total Investment Grade Corporate Bond Funds				886,276
U.S. Large Cap Core Funds — 13.2%
Consumer Discretionary Select Sector SPDR Fund		2,641		318,821
Financial Select Sector SPDR Fund(a)		8,436		238,317
Health Care Select Sector SPDR Fund		1,721		156,852
Technology Select Sector SPDR Fund(a)		91		7,350
Total U.S. Large Cap Core Funds				721,340
U.S. Long Term Treasury Bond Funds — 2.4%
iShares 20+ Year Treasury Bond ETF(a)		782		103,920
SPDR Portfolio Long Term Treasury ETF		447		17,089
Vanguard Long-Term Treasury ETF		101		8,253
Total U.S. Long Term Treasury Bond Funds				129,262
U.S. Momentum Fund — 6.6%
iShares Edge MSCI USA Momentum Factor ETF		2,976		359,293
U.S. Small Cap Value Funds — 4.0%
iShares Russell 2000 Value ETF		615		74,391
iShares S&P Small-Cap 600 Value ETF		302		45,466
Vanguard Small-Cap Value ETF(a)		762		100,218
Total U.S. Small Cap Value Funds				220,075
		Shares		Value
Investment Companies (continued)
U.S. Ultra Short Term Treasury Bond Funds — 15.9%
Goldman Sachs Access Treasury 0-1 Year ETF		729	$	73,155
Invesco Treasury Collateral ETF		120		12,668
iShares Short Treasury Bond ETF		5,127		567,149
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF		2,342		214,551
Total U.S. Ultra Short Term Treasury Bond Funds				867,523
Total Investment Companies
(Cost $5,340,724)				5,394,694
Short-Term Investment — 0.2%
Money Market Fund — 0.2%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 2.34%(c)
(Cost $11,721)		11,721		11,721
Investment of Cash Collateral For Securities Loaned — 5.3%
Money Market Fund — 5.3%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.26%(c)
(Cost $290,845)		290,845		290,845
Total Investments — 105.4%
(Cost $5,710,679)				5,749,253
Other Assets and Liabilities, Net — (5.4)%				(294,608	)
Net Assets — 100.0%			$	5,454,645

1

______________

*	Non-income producing securities.
(a)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $1,121,877; total market value of collateral held by the Fund was $1,147,651.  Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $856,806.
(b)	All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $39,261.
(c)	Reflects the 1-day yield at July 31, 2019.

1

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Long/Short Tracker ETF

July 31, 2019 (unaudited)

Total Return Swap contracts outstanding at July 31, 2019:
		Annual Financing			Payment	Notional			Value/
		Rate			Frequency	Amount			Unrealized
		Received		Expiration	Received/	Long			Appreciation/
Total Return Benchmark	Counterparty	(Paid) %		Date	(Paid)	(Short)			(Depreciation)(a)
Consumer Discretionary Select Sector SPDR Fund	Morgan Stanley		2.90	3/30/2021	Monthly	$	32,112		$	—
Energy Select Sector SPDR Fund	Morgan Stanley		2.43	3/30/2021	Monthly		(75,115	)		—
Financial Select Sector SPDR Fund	Morgan Stanley		2.90	3/30/2021	Monthly		23,956			—
Goldman Sachs Access Treasury 0-1 Year ETF	Morgan Stanley		2.90	3/30/2021	Monthly		7,326			—
Health Care Select Sector SPDR Fund	Morgan Stanley		2.90	3/30/2021	Monthly		15,767			—
Invesco Preferred ETF	Morgan Stanley		2.05	3/30/2021	Monthly		(5,711	)		—
Invesco Senior Loan ETF	Morgan Stanley		2.90	3/30/2021	Monthly		23,573			—
Invesco Treasury Collateral ETF	Morgan Stanley		2.90	3/30/2021	Monthly		1,267			—
iPath Series B S&P 500 VIX Short-Term Futures ETN	Morgan Stanley		2.90	3/30/2021	Monthly		5,237			—
iShares 20+ Year Treasury Bond ETF	Morgan Stanley		2.90	3/30/2021	Monthly		10,498			—
iShares Broad USD Investment Grade Corporate Bond ETF	Morgan Stanley		2.90	3/30/2021	Monthly		4,854			—
iShares Core MSCI EAFE ETF	Morgan Stanley		2.05	3/30/2021	Monthly		(30,366	)		—
iShares Core MSCI Emerging Markets ETF	Morgan Stanley		2.05	3/30/2021	Monthly		(35,829	)		—
iShares Core S&P U.S. Growth ETF	Morgan Stanley		(0.79)	3/30/2021	Monthly		(8,508	)		—
iShares Core S&P U.S. Value ETF	Morgan Stanley		(2.89)	3/30/2021	Monthly		(6,908	)		—
iShares Core U.S. REIT ETF	Morgan Stanley		(2.99)	3/30/2021	Monthly		(2,737	)		—
iShares Edge MSCI USA Momentum Factor ETF	Morgan Stanley		2.90	3/30/2021	Monthly		36,098			—
iShares iBoxx $ Investment Grade Corporate Bond ETF	Morgan Stanley		2.90	3/30/2021	Monthly		50,975			—
iShares MSCI EAFE Growth ETF	Morgan Stanley		2.90	3/30/2021	Monthly		26,830			—
iShares Preferred & Income Securities ETF	Morgan Stanley		1.51	3/30/2021	Monthly		(17,106	)		—
iShares Russell 2000 Growth ETF	Morgan Stanley		0.76	3/30/2021	Monthly		(29,710	)		—
iShares Russell 2000 Value ETF	Morgan Stanley		2.90	3/30/2021	Monthly		7,500			—
iShares S&P Small-Cap 600 Growth ETF	Morgan Stanley		(1.74)	3/30/2021	Monthly		(17,883	)		—
iShares S&P Small-Cap 600 Value ETF	Morgan Stanley		2.90	3/30/2021	Monthly		4,667			—
iShares Short Treasury Bond ETF	Morgan Stanley		2.90	3/30/2021	Monthly		57,080			—
Schwab International Small-Cap Equity ETF	Morgan Stanley		2.90	3/30/2021	Monthly		20,390			—
Schwab U.S. Large-Cap Growth ETF	Morgan Stanley		2.05	3/30/2021	Monthly		(10,004	)		—
Schwab U.S. Large-Cap Value ETF	Morgan Stanley		(1.64)	3/30/2021	Monthly		(7,256	)		—
Schwab U.S. REIT ETF	Morgan Stanley		(0.64)	3/30/2021	Monthly		(10,475	)		—
SPDR Blackstone / GSO Senior Loan ETF	Morgan Stanley		2.90	3/30/2021	Monthly		12,315			—
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF	Morgan Stanley		2.90	3/30/2021	Monthly		21,620			—
SPDR Portfolio Long Term Treasury ETF	Morgan Stanley		2.90	3/30/2021	Monthly		1,720			—
SPDR Portfolio S&P 500 Growth ETF	Morgan Stanley		0.01	3/30/2021	Monthly		(6,855	)		—
SPDR Portfolio S&P 500 Value ETF	Morgan Stanley		(7.49)	3/30/2021	Monthly		(3,499	)		—
Technology Select Sector SPDR Fund	Morgan Stanley		2.90	3/30/2021	Monthly		727			—
Vanguard FTSE All World ex-U.S. Small-Cap ETF	Morgan Stanley		2.90	3/30/2021	Monthly		49,435			—
Vanguard FTSE Developed Markets ETF	Morgan Stanley		2.05	3/30/2021	Monthly		(33,464	)		—

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Long/Short Tracker ETF

July 31, 2019 (unaudited)

Total Return Swap contracts outstanding at July 31, 2019: (continued)
		Annual Financing		Payment		Notional			Value/
		Rate		Frequency		Amount			Unrealized
		Received	Expiration	Received/		Long			Appreciation/
Total Return Benchmark	Counterparty	(Paid) %	Date	(Paid)		(Short)			(Depreciation)(a)
Vanguard FTSE Emerging Markets ETF	Morgan Stanley	2.05	3/30/2021	Monthly	$	(38,920	)	$	—
Vanguard Growth ETF	Morgan Stanley	1.39	3/30/2021	Monthly		(52,482	)		—
Vanguard Intermediate-Term Corporate Bond ETF	Morgan Stanley	2.90	3/30/2021	Monthly		33,327			—
Vanguard Long-Term Treasury ETF	Morgan Stanley	2.90	3/30/2021	Monthly		817			—
Vanguard Real Estate ETF	Morgan Stanley	2.05	3/30/2021	Monthly		(64,356	)		—
Vanguard Small-Cap Growth ETF	Morgan Stanley	1.26	3/30/2021	Monthly		(29,748	)		—
Vanguard Small-Cap Value ETF	Morgan Stanley	2.90	3/30/2021	Monthly		10,127			—
Vanguard Value ETF	Morgan Stanley	1.51	3/30/2021	Monthly		(59,387	)		—
Xtrackers MSCI EAFE Hedged Equity ETF	Morgan Stanley	2.90	3/30/2021	Monthly		89,711			—
								$	—

The total value of securities segregated as collateral for swap contracts with counterparty Morgan Stanley amounted to $39,261 at July 31, 2019. The Fund either receives fees from, or pays to the counterparty, the total return of the benchmark and the agreed-upon financing rate.

____________

(a) Reflects the value at reset date of July 31, 2019.

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.
Asset Valuation Inputs
Description		Level 1		Level 2		Level 3		Total
Investments in Securities:(a)
Exchange Traded Note	$	51,993	$	—	$	—	$	51,993
Investment Companies		5,394,694		—		—		5,394,694
Short-Term Investment:
Money Market Fund		11,721		—		—		11,721
Investment of Cash Collateral for Securities Loaned:
Money Market Fund		290,845		—		—		290,845
Total Investments in Securities		5,749,253		—		—		5,749,253
Other Financial Instruments:(b)
Swap Contracts		—		—		—		—
Total Investments in Securities and Other Financial Instruments	$	5,749,253	$	—	$	—	$	5,749,253
Liability Valuation Inputs
Description		Level 1		Level 2		Level 3		Total
Other Financial Instruments:(b)
Swap Contracts	$	—	$	—	$	—	$	—

(a)	For a complete listing of investments and their industries, see the Schedules of Investments.
(b)	Reflects the unrealized appreciation (depreciation) of the instruments.

For the year ended July 31, 2019, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Event-Driven Tracker ETF

July 31, 2019 (unaudited)

	Shares		Value
Investment Companies — 99.9%
Bank Loan Funds — 23.9%
Invesco Senior Loan ETF(a)		29,475	$	672,619
SPDR Blackstone / GSO Senior Loan ETF		7,570		351,778
Total Bank Loan Funds				1,024,397
Convertible Bond Fund — 7.8%
SPDR Bloomberg Barclays Convertible Securities ETF(b)		6,258		335,617
High Yield Corporate Bond Funds — 32.6%
iShares iBoxx High Yield Corporate Bond ETF		9,507		826,443
SPDR Bloomberg Barclays High Yield Bond ETF(a)		4,056		440,441
Xtrackers USD High Yield Corporate Bond ETF		2,699		135,058
Total High Yield Corporate Bond Funds				1,401,942
Investment Grade Corporate Bond Funds — 25.9%
SPDR Portfolio Short Term Corporate Bond ETF		6,489		199,407
Vanguard Short-Term Corporate Bond ETF(a)		11,313		911,715
Total Investment Grade Corporate Bond Funds				1,111,122
U.S. Small Cap Growth Funds — 9.6%
iShares Russell 2000 Growth ETF(a)		780		158,722
iShares S&P Small-Cap 600 Growth ETF		515		94,945
Vanguard Small-Cap Growth ETF		839		158,974
Total U.S. Small Cap Growth Funds				412,641
U.S. Ultra Short Term Treasury Bond Funds — 0.1%
Goldman Sachs Access Treasury 0-1 Year ETF		2		201
iShares Short Treasury Bond ETF		14		1,549
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF		7		641
Total U.S. Ultra Short Term Treasury Bond Funds				2,391
Total Investment Companies
(Cost $4,201,439)				4,288,110
Short-Term Investment — 0.2%
Money Market Fund — 0.2%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 2.34%(c)
(Cost $9,593)		9,593		9,593
Investment of Cash Collateral For Securities Loaned — 19.4%
Money Market Fund — 19.4%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.26%(c)
(Cost $831,838)		831,838		831,838
Total Investments — 119.5%
(Cost $5,042,870)			$	5,129,541
Other Assets and Liabilities, Net — (19.5)%				(835,590	)
Net Assets — 100.0%			$	4,293,951

______________

(a)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $1,243,805; total market value of collateral held by the Fund was $1,277,300.  Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $445,462.
(b)	All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $5,363.
(c)	Reflects the 1-day yield at July 31, 2019.

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Hedge Event-Driven Tracker ETF (continued)

July 31, 2019 (unaudited)

Total Return Swap contracts outstanding at July 31, 2019:
		Annual Financing		Payment	Notional			Value/
		Rate		Frequency	Amount			Unrealized
		Received	Expiration	Received/	Long			Appreciation/
Total Return Benchmark	Counterparty	(Paid) %	Date	(Paid)	(Short)			(Depreciation)(d)
Invesco Preferred ETF	Morgan Stanley	2.05	3/30/2021	Monthly	$	(32,608	)	$	—
Invesco Senior Loan ETF	Morgan Stanley	2.90	3/30/2021	Monthly		20,196			—
iShares iBoxx High Yield Corporate Bond ETF	Morgan Stanley	2.90	3/30/2021	Monthly		24,775			—
iShares Preferred & Income Securities ETF	Morgan Stanley	1.51	3/30/2021	Monthly		(97,633	)		—
iShares Russell 2000 Growth ETF	Morgan Stanley	2.90	3/30/2021	Monthly		4,680			—
iShares S&P Small-Cap 600 Growth ETF	Morgan Stanley	2.90	3/30/2021	Monthly		2,765			—
SPDR Blackstone / GSO Senior Loan ETF	Morgan Stanley	2.90	3/30/2021	Monthly		10,549			—
SPDR Bloomberg Barclays Convertible Securities ETF	Morgan Stanley	2.90	3/30/2021	Monthly		10,082			—
SPDR Bloomberg Barclays High Yield Bond ETF	Morgan Stanley	2.90	3/30/2021	Monthly		13,248			—
SPDR Portfolio Short Term Corporate Bond ETF	Morgan Stanley	2.90	3/30/2021	Monthly		5,992			—
Vanguard Short-Term Corporate Bond ETF	Morgan Stanley	2.90	3/30/2021	Monthly		27,401			—
Vanguard Small-Cap Growth ETF	Morgan Stanley	2.90	3/30/2021	Monthly		4,737			—
Xtrackers USD High Yield Corporate Bond ETF	Morgan Stanley	2.90	3/30/2021	Monthly		4,053			—
								$	—

The total value of securities segregated as collateral for swap contracts with counterparty Morgan Stanley amounted to $5,363 at July 31, 2019. The Fund either receives fees from, or pays to the counterparty, the total return of the benchmark and the agreed-upon financing rate.

_______________

(d) Reflects the value at reset date of July 31, 2019.

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.
Asset Valuation Inputs
Description		Level 1		Level 2		Level 3		Total
Investments in Securities:(e)
Investment Companies	$	4,288,110	$	—	$	—	$	4,288,110
Short-Term Investment:
Money Market Fund		9,593		—		—		9,593
Investment of Cash Collateral for Securities Loaned:
Money Market Fund		831,838		—		—		831,838
Total Investments in Securities		5,129,541		—		—		5,129,541
Other Financial Instruments:(f)
Swap Contracts		—		—		—		—
Total Investments in Securities and Other Financial Instruments	$	5,129,541	$	—	$	—	$	5,129,541
Liability Valuation Inputs
Description		Level 1		Level 2		Level 3		Total
Other Financial Instruments:(f)
Swap Contracts	$	—	$	—	$	—	$	—

(e)	For a complete listing of investments and their industries, see the Schedules of Investments.
(f)	Reflects the unrealized appreciation (depreciation) of the instruments.

For the period ended July 31, 2019, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Real Return ETF

July 31, 2019 (unaudited)

	Shares		Value
Exchange Traded Vehicle — 4.2%
Japanese Yen Fund — 4.2%
Invesco CurrencyShares Japanese Yen Trust*
(Cost $2,359,903)		27,156	$	2,375,607
Investment Companies — 95.6%
Emerging Equity Funds — 1.7%
iShares MSCI Emerging Markets ETF(a)		7,703		321,754
Vanguard FTSE Emerging Markets ETF		15,271		637,717
Total Emerging Equity Funds				959,471
Oil Fund — 5.6%
Invesco DB Oil Fund(a)		305,360		3,105,511
U.S. Large Cap Core Funds — 10.0%
iShares Core S&P 500 ETF		7,280		2,178,394
SPDR S&P 500 ETF Trust(a)		11,394		3,388,918
Total U.S. Large Cap Core Funds				5,567,312
U.S. Short Term Investment Grade Fund — 25.0%
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund		137,529		13,993,576
U.S. Ultra Short Term Treasury Bond Funds — 53.3%
Goldman Sachs Access Treasury 0-1 Year ETF		27,890		2,798,761
Invesco Treasury Collateral ETF		4,587		484,250
iShares Short Treasury Bond ETF		126,447		13,987,567
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF		136,666		12,519,972
Total U.S. Ultra Short Term Treasury Bond Funds				29,790,550
Total Investment Companies
(Cost $52,845,693)				53,416,420
Short-Term Investment — 0.2%
Money Market Fund — 0.2%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 2.34%(b)
(Cost $85,137)		85,137		85,137
Investment of Cash Collateral For Securities Loaned — 1.1%
Money Market Fund — 1.1%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.26%(b)
(Cost $615,300)		615,300		615,300
Total Investments — 101.1%
(Cost $55,906,033)				56,492,464
Other Assets and Liabilities, Net — (1.1)%				(625,261	)
Net Assets — 100.0%			$	55,867,203

_____________

*	Non-income producing securities.
(a)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $4,231,259; total market value of collateral held by the Fund was $4,364,875.  Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $3,749,575.
(b)	Reflects the 1-day yield at July 31, 2019.

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Real Return ETF (continued)

July 31, 2019 (unaudited)

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.
Asset Valuation Inputs
Description		Level 1		Level 2		Level 3		Total
Investments in Securities:(c)
Exchange Traded Vehicle	$	2,375,607	$	—	$	—	$	2,375,607
Investment Companies		53,416,420		—		—		53,416,420
Short-Term Investment:
Money Market Fund		85,137		—		—		85,137
Investment of Cash Collateral for Securities Loaned:
Money Market Fund		615,300		—		—		615,300
Total Investments in Securities	$	56,492,464	$	—	$	—	$	56,492,464

(c) For a complete listing of investments and their industries, see the Schedules of Investments.

For the period ended July 31, 2019, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Leaders GTAA Tracker ETF

July 31, 2019 (unaudited)

	Shares		Value
Investment Companies — 100.0%
Aggregate Bond Funds — 10.8%
iShares Core U.S. Aggregate Bond ETF(a)		24,527	$	2,729,855
SPDR Portfolio Aggregate Bond ETF(b)		5,971		174,114
Vanguard Total Bond Market ETF		21,338		1,771,054
Total Aggregate Bond Funds				4,675,023
Convertible Bond Fund — 9.5%
SPDR Bloomberg Barclays Convertible Securities ETF		77,052		4,132,299
Emerging Equity Funds — 6.7%
iShares Core MSCI Emerging Markets ETF		27,823		1,396,158
Vanguard FTSE Emerging Markets ETF		36,328		1,517,057
Total Emerging Equity Funds				2,913,215
High Yield Corporate Bond Funds — 13.5%
iShares iBoxx High Yield Corporate Bond ETF		43,812		3,808,577
SPDR Bloomberg Barclays High Yield Bond ETF(b)		18,691		2,029,656
Total High Yield Corporate Bond Funds				5,838,233
International Equity Core Funds — 22.9%
iShares Core MSCI EAFE ETF		78,449		4,735,966
Vanguard FTSE Developed Markets ETF(b)		127,691		5,217,454
Total International Equity Core Funds				9,953,420
Investment Grade Corporate Bond Funds — 12.1%
iShares Broad USD Investment Grade Corporate Bond ETF		7,968		454,973
iShares iBoxx $ Investment Grade Corporate Bond ETF(b)		38,590		4,797,895
Total Investment Grade Corporate Bond Funds				5,252,868
U.S. Large Cap Core Funds — 24.5%
Consumer Discretionary Select Sector SPDR Fund		8,804		1,062,819
Energy Select Sector SPDR Fund		12,334		773,342
Financial Select Sector SPDR Fund(b)		101,837		2,876,895
Health Care Select Sector SPDR Fund		9,563		871,572
Industrial Select Sector SPDR Fund(b)		14,187		1,104,033
Technology Select Sector SPDR Fund(b)		1,164		94,016
Utilities Select Sector SPDR Fund(b)		19,222		1,144,670
Vanguard Consumer Discretionary ETF		1,311		237,907
Vanguard Energy ETF		2,622		217,547
Vanguard Financials ETF(b)		12,459		883,343
Vanguard Health Care ETF		2,562		439,819
Vanguard Industrials ETF		2,581		379,226
Vanguard Information Technology ETF		415		90,615
Vanguard Utilities ETF(b)		3,249		430,980
Total U.S. Large Cap Core Funds				10,606,784
Total Investment Companies
(Cost $42,713,756)				43,371,842
		Shares		Value
Short-Term Investment — 0.1%
Money Market Fund — 0.1%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 2.34%(c)
(Cost $46,187)		46,187	$	46,187
Investment of Cash Collateral For Securities Loaned — 1.3%
Money Market Fund — 1.3%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.26%(c)
(Cost $563,475)		563,475		563,475
Total Investments — 101.4%
(Cost $43,323,418)				43,981,504
Other Assets and Liabilities, Net — (1.4)%				(618,023	)
Net Assets — 100.0%			$	43,363,481

________

(a)	All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $241,521.
(b)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $10,549,294; total market value of collateral held by the Fund was $10,799,863. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $10,236,388.
(c)	Reflects the 1-day yield at July 31, 2019.

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Leaders GTAA Tracker ETF (continued)

July 31, 2019 (unaudited)

Total Return Swap contracts outstanding at July 31, 2019:
		Annual Financing		Payment	Notional			Value/
		Rate		Frequency	Amount			Unrealized
		Received	Expiration	Received/	Long			Appreciation/
Total Return Benchmark	Counterparty	(Paid) %	Date	(Paid)	(Short)			(Depreciation)(d)
Consumer Discretionary Select Sector SPDR Fund	Morgan Stanley	2.90	10/03/2019	Monthly	$	129,412		$	—
Consumer Staples Select Sector SPDR Fund	Morgan Stanley	2.05	10/03/2019	Monthly		(371,972	)		—
Energy Select Sector SPDR Fund	Morgan Stanley	2.90	10/03/2019	Monthly		94,175			—
Financial Select Sector SPDR Fund	Morgan Stanley	2.90	10/03/2019	Monthly		350,244			—
Health Care Select Sector SPDR Fund	Morgan Stanley	2.75	10/03/2019	Monthly		106,087			—
Industrial Select Sector SPDR Fund	Morgan Stanley	2.90	10/03/2019	Monthly		134,395			—
iShares 7-10 Year Treasury Bond ETF	Morgan Stanley	1.26	10/03/2019	Monthly		(622,963	)		—
iShares Broad USD Investment Grade Corporate Bond ETF	Morgan Stanley	2.90	10/03/2019	Monthly		55,387			—
iShares Core MSCI EAFE ETF	Morgan Stanley	2.90	10/03/2019	Monthly		576,594			—
iShares Core MSCI Emerging Markets ETF	Morgan Stanley	2.90	10/03/2019	Monthly		169,960			—
iShares Core U.S. Aggregate Bond ETF	Morgan Stanley	2.90	10/03/2019	Monthly		332,342			—
iShares iBoxx $ Investment Grade Corporate Bond ETF	Morgan Stanley	2.90	10/03/2019	Monthly		584,102			—
iShares iBoxx High Yield Corporate Bond ETF	Morgan Stanley	2.90	10/03/2019	Monthly		463,685			—
iShares Russell 2000 ETF	Morgan Stanley	1.86	10/03/2019	Monthly		(782,800	)		—
Materials Select Sector SPDR Fund	Morgan Stanley	2.05	10/03/2019	Monthly		(1,357,980	)		—
SPDR Bloomberg Barclays Convertible Securities ETF	Morgan Stanley	2.90	10/03/2019	Monthly		503,103			—
SPDR Bloomberg Barclays High Yield Bond ETF	Morgan Stanley	2.90	10/03/2019	Monthly		247,151			—
SPDR Portfolio Aggregate Bond ETF	Morgan Stanley	2.90	10/03/2019	Monthly		21,199			—
Technology Select Sector SPDR Fund	Morgan Stanley	2.90	10/03/2019	Monthly		11,469			—
Utilities Select Sector SPDR Fund	Morgan Stanley	2.90	10/03/2019	Monthly		139,347			—
Vanguard Consumer Discretionary ETF	Morgan Stanley	2.90	10/03/2019	Monthly		29,035			—
Vanguard Energy ETF	Morgan Stanley	2.90	10/03/2019	Monthly		26,467			—
Vanguard Financials ETF	Morgan Stanley	2.90	10/03/2019	Monthly		107,555			—
Vanguard FTSE Developed Markets ETF	Morgan Stanley	2.90	10/03/2019	Monthly		635,210			—
Vanguard FTSE Emerging Markets ETF	Morgan Stanley	2.90	10/03/2019	Monthly		184,704			—
Vanguard Health Care ETF	Morgan Stanley	2.90	10/03/2019	Monthly		53,561			—
Vanguard Industrials ETF	Morgan Stanley	2.90	10/03/2019	Monthly		46,136			—
Vanguard Information Technology ETF	Morgan Stanley	2.90	10/03/2019	Monthly		11,573			—
Vanguard Real Estate ETF	Morgan Stanley	2.05	10/03/2019	Monthly		(2,212,205	)		—
Vanguard Total Bond Market ETF	Morgan Stanley	2.90	10/03/2019	Monthly		215,634			—
Vanguard Utilities ETF	Morgan Stanley	2.90	10/03/2019	Monthly		52,529			—
								$	—

The total value of securities segregated as collateral for swap contracts with counterparty Morgan Stanley amounted to $241,521 at July 31, 2019. The Fund either receives fees from, or pays to the counterparty, the total return of the benchmark and the agreed-upon financing rate.

_________

(d) Reflects the value at reset date of July 31, 2019.

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Leaders GTAA Tracker ETF (continued)

July 31, 2019 (unaudited)

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.
Asset Valuation Inputs
Description		Level 1		Level 2		Level 3		Total
Investments in Securities:(e)
Investment Companies	$	43,371,842	$	—	$	—	$	43,371,842
Short-Term Investment:
Money Market Fund		46,187		—		—		46,187
Investment of Cash Collateral for Securities Loaned:
Money Market Fund		563,475		—		—		563,475
Total Investments in Securities		43,981,504		—		—		43,981,504
Other Financial Instruments:(f)
Swap Contracts		—		—		—		—
Total Investments in Securities and Other Financial Instruments	$	43,981,504	$	—	$	—	$	43,981,504
Liability Valuation Inputs
Description		Level 1		Level 2		Level 3		Total
Other Financial Instruments:(f)
Swap Contracts	$	—	$	—	$	—	$	—

(e)	For a complete listing of investments and their industries, see the Schedules of Investments.
(f)	Reflects the unrealized appreciation (depreciation) of the instruments.

For the period ended July 31, 2019, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Enhanced Core Bond U.S. ETF

July 31, 2019 (unaudited)

	Shares		Value
Investment Companies — 99.9%
Investment Grade Corporate Bond Funds — 36.9%
iShares Broad USD Investment Grade Corporate Bond ETF		119,340	$	6,814,314
SPDR Portfolio Intermediate Term Corporate Bond ETF		124,955		4,358,430
SPDR Portfolio Long Term Corporate Bond ETF		77,171		2,231,014
Vanguard Intermediate-Term Corporate Bond ETF		109,441		9,831,085
Vanguard Long-Term Corporate Bond ETF		117,282		11,422,094
Total Investment Grade Corporate Bond Funds				34,656,937
Short Maturity Investment Grade Corporate Bond Fund — 13.1%
Vanguard Short-Term Corporate Bond ETF		152,569		12,295,535
U.S. Short Term Treasury Bond Funds — 49.9%
Schwab Short-Term U.S. Treasury ETF		480,685		24,255,365
Vanguard Short-Term Treasury ETF		370,588		22,524,339
Total U.S. Short Term Treasury Bond Funds				46,779,704
Total Investment Companies
(Cost $92,512,262)				93,732,176
Short-Term Investment — 0.1%
Money Market Fund — 0.1%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 2.34%(a)
(Cost $72,327)		72,327		72,327
Total Investments — 100.0%
(Cost $92,584,589)				93,804,503
Other Assets and Liabilities, Net — (0.0)%(b)				(16,697	)
Net Assets — 100.0%			$	93,787,806

___________

(a)	Reflects the 1-day yield at July 31, 2019.
(b)	Less than 0.05%.

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Enhanced Core Bond U.S. ETF (continued)

July 31, 2019 (unaudited)

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.
Asset Valuation Inputs
Description		Level 1		Level 2		Level 3		Total
Investments in Securities:(c)
Investment Companies	$	93,732,176	$	—	$	—	$	93,732,176
Short-Term Investment:
Money Market Fund		72,327		—		—		72,327
Total Investments in Securities	$	93,804,503	$	—	$	—	$	93,804,503

(c) For a complete listing of investments and their industries, see the Schedules of Investments.

For the period ended July 31, 2019, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Enhanced Core Plus Bond U.S. ETF

July 31, 2019 (unaudited)

	Shares		Value
Investment Companies — 99.9%
Investment Grade Corporate Bond Funds — 36.9%
iShares Broad USD Investment Grade Corporate Bond ETF		185,634	$	10,599,702
SPDR Portfolio Intermediate Term Corporate Bond ETF(a)		194,361		6,779,312
SPDR Portfolio Long Term Corporate Bond ETF		120,042		3,470,414
Vanguard Intermediate-Term Corporate Bond ETF		170,240		15,292,659
Vanguard Long-Term Corporate Bond ETF		182,429		17,766,760
Total Investment Grade Corporate Bond Funds				53,908,847
Short Maturity Investment Grade Corporate Bond Fund — 13.1%
Vanguard Short-Term Corporate Bond ETF		237,322		19,125,780
U.S. Short Term Treasury Bond Funds — 49.9%
Schwab Short-Term U.S. Treasury ETF		747,700		37,728,942
Vanguard Short-Term Treasury ETF(a)		576,447		35,036,449
Total U.S. Short Term Treasury Bond Funds				72,765,391
Total Investment Companies
(Cost $143,946,995)				145,800,018
Short-Term Investment — 0.2%
Money Market Fund — 0.2%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 2.34%(b)
(Cost $223,470)		223,470		223,470
Investment of Cash Collateral For Securities Loaned — 5.5%
Money Market Fund — 5.5%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.26%(b)
(Cost $8,077,308)		8,077,308		8,077,308
Total Investments — 105.6%
(Cost $152,247,773)				154,100,796
Other Assets and Liabilities, Net — (5.6)%				(8,104,297	)
Net Assets — 100.0%			$	145,996,499

___________

(a)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $7,881,539; total market value of collateral held by the Fund was $8,077,308.
(b)	Reflects the 1-day yield at July 31, 2019.

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Enhanced Core Plus Bond U.S. ETF (continued)

July 31, 2019 (unaudited)

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.
Asset Valuation Inputs
Description		Level 1		Level 2		Level 3		Total
Investments in Securities:(c)
Investment Companies	$	145,800,018	$	—	$	—	$	145,800,018
Short-Term Investment:
Money Market Fund		223,470		—		—		223,470
Investment of Cash Collateral for Securities Loaned:
Money Market Fund		8,077,308		—		—		8,077,308
Total Investments in Securities	$	154,100,796	$	—	$	—	$	154,100,796

(c) For a complete listing of investments and their industries, see the Schedules of Investments.

For the period ended July 31, 2019, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Short Duration Enhanced Core Bond U.S. ETF

July 31, 2019 (unaudited)

	Shares		Value
Investment Companies — 99.8%
Investment Grade Corporate Bond Fund — 6.0%
iShares 0-5 Year Investment Grade Corporate Bond ETF		13,532	$	688,373
Short Maturity Investment Grade Corp Bond Fund — 77.2%
Vanguard Short-Term Corporate Bond ETF		110,177		8,879,164
U.S. Short Term Treasury Bond Funds — 16.6%
Schwab Short-Term U.S. Treasury ETF		19,632		990,631
Vanguard Short-Term Treasury ETF(a)		15,135		919,905
Total U.S. Short Term Treasury Bond Funds				1,910,536
Total Investment Companies
(Cost $11,393,268)				11,478,073
Short-Term Investment — 0.2%
Money Market Fund — 0.2%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 2.34%(b)
(Cost $21,070)		21,070		21,070
Investment of Cash Collateral For Securities Loaned — 8.0%
Money Market Fund — 8.0%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.26%(b)
(Cost $923,292)		923,292		923,292
Total Investments — 108.0%
(Cost $12,337,630)				12,422,435
Other Assets and Liabilities, Net — (8.0)%				(925,233	)
Net Assets — 100.0%			$	11,497,202

__________

(a)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $901,489; total market value of collateral held by the Fund was $923,292.
(b)	Reflects the 1-day yield at July 31, 2019.

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Short Duration Enhanced Core Bond U.S. ETF (continued)

July 31, 2019 (unaudited)

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.
Asset Valuation Inputs
Description		Level 1		Level 2		Level 3		Total
Investments in Securities:(c)
Investment Companies	$	11,478,073	$	—	$	—	$	11,478,073
Short-Term Investment:
Money Market Fund		21,070		—		—		21,070
Investment of Cash Collateral for Securities Loaned:
Money Market Fund		923,292		—		—		923,292
Total Investments in Securities	$	12,422,435	$	—	$	—	$	12,422,435

(c) For a complete listing of investments and their industries, see the Schedules of Investments.

For the period ended July 31, 2019, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Merger Arbitrage ETF

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks — 75.8%
Communication Services — 9.2%
Inmarsat PLC		1,588,597	$	11,137,975
Tribune Media Co., Class A		1,011,821		47,019,322
Zayo Group Holdings, Inc.*		881,470		29,731,983
Total Communication Services				87,889,280
Consumer Discretionary — 1.6%
Caesars Entertainment Corp.*		1,279,288		15,146,770
Energy — 8.1%
Anadarko Petroleum Corp.(a)		852,505		62,795,519
Buckeye Partners LP		333,681		13,924,508
Total Energy				76,720,027
Financials — 7.0%
Oaktree Capital Group LLC(b)		336,760		17,060,262
SunTrust Banks, Inc.		744,460		49,581,036
Total Financials				66,641,298
Health Care — 21.2%
Allergan PLC		90,313		14,495,237
BTG PLC*		2,618,458		26,819,627
Celgene Corp.*		591,927		54,374,414
Medidata Solutions, Inc.*		51,482		4,703,910
Pacific Biosciences of California, Inc.*(b)		1,654,931		8,936,627
Spark Therapeutics, Inc.*		450,584		45,067,412
WellCare Health Plans, Inc.*		166,281		47,764,217
Total Health Care				202,161,444
Industrials — 8.9%
Advanced Disposal Services, Inc.*		850,759		27,539,069
Panalpina Welttransport Holding AG*		28,085		6,377,281
Raytheon Co.		53,972		9,838,556
WABCO Holdings, Inc.*		280,743		37,173,180
WestJet Airlines Ltd.		166,594		3,902,396
Total Industrials				84,830,482
Information Technology — 18.1%
Cray, Inc.*		169,679		5,877,681
Cypress Semiconductor Corp.		148,650		3,414,490
Finisar Corp.*(b)		2,017,092		47,462,175
Mellanox Technologies Ltd.*		95,060		10,705,657
Tableau Software, Inc., Class A*		48,499		8,222,035
Total System Services, Inc.		361,593		49,075,402
Versum Materials, Inc.		912,311		47,421,926
Total Information Technology				172,179,366
Materials — 0.7%
DuluxGroup Ltd.		980,756		6,320,471
Utilities — 1.0%
AmeriGas Partners LP		286,365		9,702,046
Total Common Stocks
(Cost $713,943,580)				721,591,184
Investment Company — 4.9%
U.S. Ultra Short Term Treasury Bond Funds — 4.9%
iShares Short Treasury Bond ETF
(Cost $46,178,561)		417,442		46,177,434
Rights - 0.0%(c)
Materials — 0.0%(c)
A. Schulman, Inc., Contingent Value Right (CVR)*(d)(e)
(Cost $79,792)		152,567		66,061
Short-Term Investment — 19.5%
Money Market Fund — 19.5%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 2.34%(f)
(Cost $185,729,251)		185,729,251		185,729,251
Total Investments — 100.2%
(Cost $945,931,184)				953,563,930
Other Assets and Liabilities, Net — (0.2)%				(2,079,220	)
Net Assets — 100.0%			$	951,484,710

__________

*	Non-income producing securities.
(a)	All or a portion of these securities have been segregated as collateral for swap contracts. The total value of securities segregated amounted to $14,503,654.
(b)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $7,211,304; total market value of collateral held consisted of non-cash U.S. Treasury securities collateral having a value of $7,359,023.
(c)	Less than 0.05%.
(d)	Security has been deemed illiquid because it may not be able to be resold within seven days at approximately the price shown. At July 31, 2019, the value of this security was $66,061.
(e)	Security is fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. The Security is fair valued using significant unobservable inputs.
(f)	Reflects the 1-day yield at July 31, 2019.

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Merger Arbitrage ETF (continued)

July 31, 2019 (unaudited)

Total Return Swap contracts outstanding at July 31, 2019:
		Annual Financing		Payment	Notional			Value/
		Rate		Frequency	Amount			Unrealized
		Received	Expiration	Received/	Long			Appreciation/
Total Return Benchmark	Counterparty	(Paid) %	Date	(Paid)	(Short)			(Depreciation)(g)
Consumer Discretionary Select Sector SPDR Fund	Morgan Stanley	2.55	1/10/2020	Monthly	$	(5,306,127	)	$	—
Energy Select Sector SPDR Fund	Morgan Stanley	2.43	1/10/2020	Monthly		(13,251,645	)		—
Financial Select Sector SPDR Fund	Morgan Stanley	2.35	1/10/2020	Monthly		(56,451,438	)		—
Health Care Select Sector SPDR Fund	Morgan Stanley	2.53	1/10/2020	Monthly		(61,207,892	)		—
Industrial Select Sector SPDR Fund	Morgan Stanley	2.45	1/10/2020	Monthly		(9,428,827	)		—
Technology Select Sector SPDR Fund	Morgan Stanley	2.53	1/10/2020	Monthly		(74,000,989	)		—
Utilities Select Sector SPDR Fund	Morgan Stanley	2.35	1/10/2020	Monthly		(7,808,375	)		—
Vanguard FTSE Europe ETF	Morgan Stanley	2.40	1/10/2020	Monthly		(6,304,060	)		—
								$	—

The total value of securities segregated as collateral for swap contracts with counterparty Morgan Stanley amounted to $14,503,654 at July 31, 2019. The Fund either receives fees from, or pays to the counterparty, the total return of the benchmark and the agreed-upon financing rate.

_______________

(g) Reflects the value at reset date of July 31, 2019.

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.

Asset Valuation Inputs
Description		Level 1		Level 2		Level 3			Total
Investments in Securities:(h)
Common Stocks	$	721,591,184	$	—	$	—		$	721,591,184
Investment Companies		46,177,434		—		—			46,177,434
Rights		—		—		66,061	(i)		66,061
Short-Term Investment:
Money Market Fund		185,729,251		—		—			185,729,251
Total Investments in Securities	$	953,497,869	$	—	$	66,061		$	953,563,930
Other Financial Instruments:(j)
Swap Contracts		—		—		—			—
Total Investments in Securities and Other Financial Instruments	$	953,497,869	$	—	$	66,061		$	953,563,930
Liability Valuation Inputs
Description		Level 1		Level 2		Level 3			Total
Other Financial Instruments:(j)
Swap Contracts	$	—	$	—	$	—		$	—

(h)	For a complete listing of investments and their industries, see the Schedules of Investments.
(i)	The Level 3 security, valued at $66,061, has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees.
(j)	Reflects the unrealized appreciation (depreciation) of the instruments.

For the period ended July 31, 2019, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Merger Arbitrage ETF (continued)

July 31, 2019 (unaudited)

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:
Investments in Securities	Balance as of April 30, 2019	Accrued Discounts (Premiums)	Realized Gain (Loss)	Change in Unrealized Appreciation (Depreciation)	Purchases	Sales	Transfers into Level 3	Transfers out of Level 3	Balance as of July 31, 2019	Change in Unrealized Appreciation (Depreciation) from Investments Still Held at July 31, 2019
Rights
A. Schulman, Inc., Contingent Value Right (CVR)(k)	$66,061	$–	$–	$–	$–	$–	$–	$–	$66,061	$–
Total	$66,061	$–	$–	$–	$–	$–	$–	$–	$66,061	$–
Information about Level 3 fair value measurements as of July 31, 2019.
Security Type	Fair Value	Valuation Technique				Unobservable Inputs
Rights	$66,061	Issuer Specific Facts				Company Information

(k) Security has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees.

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Global Resources ETF

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks - 89.7%
Argentina - 0.0%(a)
Adecoagro SA*		7,353	$	49,633
Australia - 9.8%
BHP Group Ltd.		186,739		5,246,215
Evolution Mining Ltd.		97,115		336,021
Fortescue Metals Group Ltd.		113,625		652,373
GrainCorp Ltd., Class A		14,411		85,223
Iluka Resources Ltd.		15,571		103,245
Independence Group NL		33,790		125,299
Mineral Resources Ltd.		6,915		76,592
New Hope Corp. Ltd.		192,123		332,376
Newcrest Mining Ltd.		43,900		1,076,583
Northern Star Resources Ltd.		36,594		328,144
OceanaGold Corp.		35,399		96,507
OZ Minerals Ltd.		11,957		84,804
Regis Resources Ltd.		29,058		111,557
Resolute Mining Ltd.		43,379		53,071
Rio Tinto PLC		61,726		3,550,768
Sandfire Resources NL		5,891		27,367
Saracen Mineral Holdings Ltd.*		46,937		135,552
South32 Ltd.		185,185		400,786
St. Barbara Ltd.		39,506		100,749
Washington H Soul Pattinson & Co., Ltd.		55,330		866,073
Whitehaven Coal Ltd.		236,237		602,458
Woodside Petroleum Ltd.		8,487		202,983
Total Australia				14,594,746
Austria - 0.1%
OMV AG		2,964		149,528
Brazil - 0.1%
Yamana Gold, Inc.		54,375		161,491
Canada - 11.0%
Agnico Eagle Mines Ltd.		13,473		707,431
Alamos Gold, Inc., Class A		22,250		146,735
B2Gold Corp.*		57,483		184,292
Barrick Gold Corp.		100,254		1,637,626
Canadian Natural Resources Ltd.		10,889		277,211
Canfor Corp.*		54,287		393,567
Canfor Pulp Products, Inc.		28,302		198,932
Centerra Gold, Inc.*		16,711		134,131
Detour Gold Corp.*		10,056		154,384
Enbridge, Inc.		18,358		616,244
First Majestic Silver Corp.*		11,253		106,690
Fortuna Silver Mines, Inc.*		9,154		34,646
Hudbay Minerals, Inc.		9,646		47,086
IAMGOLD Corp.*		26,779		97,886
Imperial Oil Ltd.		7,055		194,165
Kinross Gold Corp.*		71,548		290,954
Kirkland Lake Gold Ltd.		12,007		499,061
Labrador Iron Ore Royalty Corp.		2,364		56,636
Largo Resources Ltd.*		19,534		27,669
Maple Leaf Foods, Inc.		15,297		360,539
Mercer International, Inc.		28,266		368,306
New Gold, Inc.*		33,141		44,418
Norbord, Inc.		35,406		824,787
Nutrien Ltd.		38,014		2,094,729
Osisko Gold Royalties Ltd.		8,853		104,970
Pan American Silver Corp.		11,985		183,451
Pembina Pipeline Corp.(b)		4,594		167,541
Pretium Resources, Inc.*		10,539		114,848
		Shares		Value
Common Stocks (continued)
Canada (continued)
SEMAFO, Inc.*		18,628	$	75,043
SSR Mining, Inc.*		6,932		107,637
Suncor Energy, Inc.		14,215		409,947
TC Energy Corp.		8,380		412,379
Teck Resources Ltd., Class B		131,029		2,694,119
Torex Gold Resources, Inc.*		4,869		63,034
TransAlta Corp.		65,787		405,298
West Fraser Timber Co. Ltd.		30,128		1,183,645
Westshore Terminals Investment Corp.		15,414		244,389
Wheaton Precious Metals Corp.		25,426		668,010
Total Canada				16,332,436
Chile - 0.4%
Antofagasta PLC		36,398		418,578
Lundin Mining Corp.		27,168		132,204
Total Chile				550,782
China - 10.5%
Beijing Enterprises Water Group Ltd.*		653,827		346,630
China Agri-Industries Holdings Ltd.		331,727		101,282
China Coal Energy Co., Ltd., Class H		3,064,364		1,193,974
China Modern Dairy Holdings Ltd.*		748,301		118,537
China Petroleum & Chemical Corp., Class H		1,098,781		710,258
China Power International Development Ltd.		2,266,583		570,417
China Shenhua Energy Co., Ltd., Class H		4,596,913		9,161,058
CNOOC Ltd.		405,199		669,819
Guangdong Investment Ltd.		426,976		899,999
Jiangxi Copper Co., Ltd., Class H		127,849		159,242
MMG Ltd.*		297,287		93,805
PetroChina Co., Ltd., Class H		1,661,006		882,713
Shougang Fushan Resources Group Ltd.		1,225,365		255,157
Southern Energy Holdings Group Ltd.*(b)(c)(d)		165,946		206,269
Zhaojin Mining Industry Co., Ltd., Class H		184,302		215,430
Total China				15,584,590
Egypt - 0.1%
Centamin PLC		66,027		105,020
Finland - 7.9%
Neste OYJ		6,761		225,755
Stora Enso OYJ, Class R		341,902		3,972,329
UPM-Kymmene OYJ		231,218		6,294,361
Valmet OYJ		64,866		1,271,826
Total Finland				11,764,271
France - 1.9%
Suez		40,351		596,628
TOTAL SA		23,682		1,240,197
Veolia Environnement SA		36,122		918,986
Vilmorin & Cie SA		1,445		79,880
Total France				2,835,691
Germany - 0.4%
Aurubis AG		1,660		73,117
GEA Group AG		11,383		287,062
Suedzucker AG		12,879		201,039
Total Germany				561,218

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Global Resources ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
Hong Kong - 0.5%
Agritrade Resources Ltd.(b)		1,473,275	$	210,793
C.P. Pokphand Co., Ltd.		3,116,017		262,724
Hong Kong & China Gas Co., Ltd.		153,603		340,254
Total Hong Kong				813,771
Italy - 0.4%
Eni SpA		32,683		516,873
Snam SpA		29,956		148,054
Total Italy				664,927
Ivory Coast - 0.1%
Endeavour Mining Corp.*		5,710		107,230
Japan - 3.5%
Daio Paper Corp.		65,015		782,036
Ebara Corp.		6,370		172,839
Fuji Oil Holdings, Inc.		5,617		173,826
Hokuto Corp.		2,070		35,461
Itoham Yonekyu Holdings, Inc.		36,442		240,653
Kewpie Corp.		8,948		203,890
NH Foods Ltd.(b)		12,720		475,060
Nichirei Corp.		8,309		193,768
Nippon Flour Mills Co., Ltd.		4,764		75,689
Nippon Paper Industries Co., Ltd.		49,979		886,112
Nippon Steel Corp.		32,560		514,752
Nisshin Oillio Group Ltd. (The)		2,231		65,445
Nisshin Seifun Group, Inc.		18,614		354,022
Prima Meat Packers Ltd.		6,005		113,435
S Foods, Inc.		4,035		124,869
Sumitomo Metal Mining Co., Ltd.		10,111		290,083
Toyo Suisan Kaisha Ltd.		6,274		253,965
UACJ Corp.(b)		1,845		30,332
Yamazaki Baking Co., Ltd.		13,807		211,349
Total Japan				5,197,586
Kazakhstan - 0.1%
KAZ Minerals PLC		17,376		122,976
Luxembourg - 0.4%
ArcelorMittal		37,422		604,902
Mexico - 0.2%
Fresnillo PLC(b)		42,167		310,305
Netherlands - 1.9%
ForFarmers NV		12,321		97,811
OCI NV*		13,214		348,833
Royal Dutch Shell PLC, Class B		74,405		2,371,013
Total Netherlands				2,817,657
Norway - 1.1%
Equinor ASA		30,206		546,520
Norsk Hydro ASA		75,554		261,615
Yara International ASA		17,201		815,948
Total Norway				1,624,083
Peru - 0.8%
Hochschild Mining PLC		29,267		74,539
Nexa Resources SA		4,919		40,533
		Shares		Value
Common Stocks (continued)
Peru (continued)
Southern Copper Corp.		28,542	$	1,021,518
Total Peru				1,136,590
Portugal - 1.1%
Altri SGPS SA		88,932		589,150
Navigator Co. SA (The)		311,066		1,055,647
Total Portugal				1,644,797
Singapore - 1.2%
First Resources Ltd.		99,919		113,897
Golden Agri-Resources Ltd.		803,418		173,182
Olam International Ltd.		200,774		284,609
Wilmar International Ltd.		399,072		1,163,492
Total Singapore				1,735,180
South Africa - 0.8%
Anglo American PLC		46,902		1,170,981
Spain - 0.4%
Ebro Foods SA		9,707		196,918
Naturgy Energy Group SA		8,953		228,273
Repsol SA		13,801		221,040
Total Spain				646,231
Sweden - 1.4%
AAK AB		16,005		330,172
Boliden AB		10,098		231,630
Holmen AB, B Shares		72,831		1,556,356
Total Sweden				2,118,158
Switzerland - 1.2%
Bell Food Group AG*		772		207,426
Glencore PLC*		507,314		1,655,136
Total Switzerland				1,862,562
Tanzania - 0.0%(a)
Acacia Mining PLC*		23,468		64,770
United Kingdom - 1.9%
BP PLC		183,767		1,227,899
Central Asia Metals PLC		6,499		16,274
Cranswick PLC		6,353		207,075
Pennon Group PLC		27,464		241,182
Severn Trent PLC		15,491		382,205
Tate & Lyle PLC		29,188		269,974
United Utilities Group PLC		44,533		430,011
Total United Kingdom				2,774,620
United States - 30.4%
AK Steel Holding Corp.*(b)		11,679		32,935
Alcoa Corp.*		6,848		154,011
American Water Works Co., Inc.		11,789		1,353,141
Anadarko Petroleum Corp.		4,533		333,901
Aqua America, Inc.		11,648		488,634
Archer-Daniels-Midland Co.		35,330		1,451,356
Bunge Ltd.		8,902		520,144
Campbell Soup Co.		18,994		785,212
Carpenter Technology Corp.		1,748		78,677
Century Aluminum Co.*(b)		3,254		23,396
CF Industries Holdings, Inc.		14,030		695,327

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Global Resources ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
United States (continued)
Chevron Corp.		17,245	$	2,123,032
Cleveland-Cliffs, Inc.(b)		10,727		114,350
Coeur Mining, Inc.*(b)		11,741		54,009
Commercial Metals Co.		4,355		76,256
Conagra Brands, Inc.		30,633		884,375
Concho Resources, Inc.		1,822		177,973
ConocoPhillips		10,294		608,170
CONSOL Energy, Inc.*(b)		6,383		137,171
Continental Resources, Inc.*		3,411		126,787
Diamondback Energy, Inc.(b)		1,494		154,524
Domtar Corp.		27,002		1,146,235
Ecolab, Inc.		18,831		3,798,778
EOG Resources, Inc.		5,266		452,086
Exxon Mobil Corp.		38,454		2,859,439
Flowers Foods, Inc.		13,303		315,281
Flowserve Corp.		8,554		427,957
FMC Corp.		8,301		717,372
Freeport-McMoRan, Inc.		53,500		591,710
Fresh Del Monte Produce, Inc.		3,047		92,415
General Mills, Inc.		37,771		2,006,018
Halliburton Co.		7,920		182,160
Hecla Mining Co.		27,638		51,130
Hess Corp.		2,749		178,245
Hormel Foods Corp.(b)		65,891		2,700,872
IDEX Corp.		4,948		832,353
Ingredion, Inc.		4,205		325,004
John Bean Technologies Corp.(b)		1,988		235,896
Kellogg Co.(b)		21,682		1,262,326
Kinder Morgan, Inc.		20,544		423,617
Lamb Weston Holdings, Inc.		9,241		620,256
Louisiana-Pacific Corp.		53,514		1,398,856
Marathon Petroleum Corp.		6,104		344,205
McEwen Mining, Inc.(b)		19,800		34,254
Mosaic Co. (The)		24,315		612,495
Newmont Goldcorp Corp.		46,764		1,707,821
Nucor Corp.		11,254		611,993
Occidental Petroleum Corp.		6,788		348,632
ONEOK, Inc.		3,734		261,679
Peabody Energy Corp.		25,011		526,732
Pentair PLC		11,211		435,099
Phillips 66		4,139		424,496
Pilgrim's Pride Corp.*		30,622		828,631
Pioneer Natural Resources Co.		1,527		210,787
Post Holdings, Inc.*		4,193		449,573
Reliance Steel & Aluminum Co.		2,478		247,676
Sanderson Farms, Inc.		2,723		356,767
Schlumberger Ltd.		12,579		502,783
Seaboard Corp.		145		591,838
Steel Dynamics, Inc.		8,231		259,359
Tyson Foods, Inc., Class A		44,067		3,503,326
United States Steel Corp.(b)		6,399		96,177
Valero Energy Corp.		3,791		323,183
Warrior Met Coal, Inc.		11,917		294,827
Williams Cos., Inc. (The)		10,997		270,966
Xylem, Inc.		11,725		941,400
Total United States				45,176,086
Zambia - 0.1%
First Quantum Minerals Ltd.		25,454		235,708
Total Common Stocks
(Cost $136,161,039)				133,518,526
		Shares		Value
Short-Term Investment — 9.2%
Money Market Fund — 9.2%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 2.34%(e)
(Cost $13,761,150)		13,761,150	$	13,761,150
Investment of Cash Collateral For Securities Loaned — 2.5%
Money Market Fund — 2.5%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.26%(e)
(Cost $3,734,261)		3,734,261		3,734,261
Total Investments — 101.4%
(Cost $153,656,450)				151,013,937
Other Assets and Liabilities, Net — (1.4)%				(2,211,563	)
Net Assets — 100.0%			$	148,802,374

				% of
Industry	Value			Net Assets
Industrial Metals	$	22,327,586			15.0%
Timber		21,922,144			14.7
Energy		21,839,577			14.7
Grains Food Fiber		18,299,008			12.3
Money Market Fund		17,495,411			11.7
Coal		15,006,991			10.1
Water		12,265,841			8.2
Precious Metals		10,604,728			7.1
Livestock		10,091,753			6.8
Crop Production and Farming		488,499			0.3
Agricultural Chemicals		348,832			0.2
Refining & Marketing		225,756			0.2
Livestock Operations		97,811			0.1
Total Investments	$	151,013,937			101.4%
Other Assets and Liabilities, Net		(2,211,563	)		(1.4	)
Total Net Assets	$	148,802,374			100.0%

*	Non-income producing securities.
(a)	Less than 0.05%.
(b)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $5,311,407; total market value of collateral held by the Fund was $5,591,052.  Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $1,856,791.
(c)	Security has been deemed illiquid because it may not be able to be resold within seven days at approximately the price shown. At July 31, 2019, the value of this security was $206,269.
(d)	Security is fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. The Security is fair valued using significant unobservable inputs.
(e)	Reflects the 1-day yield at July 31, 2019.

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Global Resources ETF (continued)

July 31, 2019 (unaudited)

Total Return Swap contracts outstanding at July 31, 2019:
		Annual Financing		Payment	Notional			Value/
		Rate		Frequency	Amount			Unrealized
		Received	Expiration	Received/	Long			Appreciation/
Total Return Benchmark	Counterparty	(Paid) %	Date	(Paid)	(Short)			(Depreciation)(f)
iShares MSCI EAFE ETF	Morgan Stanley	2.39	5/04/2020	Monthly	$	(14,901,936	)	$	—
SPDR S&P 500 ETF Trust	Morgan Stanley	2.69	5/04/2020	Monthly		(15,427,694	)		—
								$	—

Cash posted has been segregated as collateral for swaps in the amount of $700,028 at July 31, 2019.

The Fund either receives fees from, or pays to the counterparty, the total return of the benchmark and the agreed-upon financing rate.

_______________

(f) Reflects the value at reset date of July 31, 2019.

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.
Asset Valuation Inputs
Description	Level 1		Level 2		Level 3			Total
Investments in Securities:(g)
Common Stocks
Argentina	$	49,633	$	—	$	—		$	49,633
Australia		14,594,746		—		—			14,594,746
Austria		149,528		—		—			149,528
Brazil		161,491		—		—			161,491
Canada		16,332,436		—		—			16,332,436
Chile		550,782		—		—			550,782
China		15,378,321		—		206,269	(h)		15,584,590
Egypt		105,020		—		—			105,020
Finland		11,764,271		—		—			11,764,271
France		2,835,691		—		—			2,835,691
Germany		561,218		—		—			561,218
Hong Kong		813,771		—		—			813,771
Italy		664,927		—		—			664,927
Ivory Coast		107,230		—		—			107,230
Japan		5,197,586		—		—			5,197,586
Kazakhstan		122,976		—		—			122,976
Luxembourg		604,902		—		—			604,902
Mexico		310,305		—		—			310,305
Netherlands		2,817,657		—		—			2,817,657
Norway		1,624,083		—		—			1,624,083
Peru		1,136,590		—		—			1,136,590
Portugal		1,644,797		—		—			1,644,797
Singapore		1,735,180		—		—			1,735,180
South Africa		1,170,981		—		—			1,170,981
Spain		646,231		—		—			646,231
Sweden		2,118,158		—		—			2,118,158
Switzerland		1,862,562		—		—			1,862,562
Tanzania		64,770		—		—			64,770
United Kingdom		2,774,620		—		—			2,774,620
United States		45,176,086		—		—			45,176,086
Zambia		235,708		—		—			235,708
Total Common Stocks		133,312,257		—		206,269			133,518,526

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Global Resources ETF (continued)

July 31, 2019 (unaudited)

Description Short-Term Investment:
Money Market Fund		13,761,150		—		—		13,761,150
Investment of Cash Collateral for Securities Loaned:
Money Market Fund		3,734,261		—		—		3,734,261
Total Investments in Securities	$	150,807,668	$	—	$	206,269	$	151,013,937
Other Financial Instruments:(i)
Swap Contracts		—		—		—		—
Total Investments in Securities and Other Financial Instruments	$	150,807,668	$	—	$	206,269	$	151,013,937
Liability Valuation Inputs
Description	Level 1		Level 2		Level 3		Total
Other Financial Instruments:(i)
Swap Contracts	$	—	$	—	$	—	$	—
	$	—	$	—	$	—	$	—

(g)	For a complete listing of investments and their countries, see the Schedules of Investments.
(h)	The Level 3 security, valued at $206,269, has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees.
(i)	Reflects the unrealized appreciation (depreciation) of the instruments.

For the period ended July 31, 2019, the Fund transferred common stock valued at $321,307 from Level 1 to Level 3 as a result of halted trade. (See Note 1)

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Global Resources ETF (continued)

July 31, 2019 (unaudited)

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:
Investments in Securities	Balance as of April 30, 2019	Accrued Discounts (Premiums)	Realized Gain (Loss)	Change in Unrealized Appreciation (Depreciation)	Purchases	Sales	Transfers into Level 3	Transfers out of Level 3	Balance as of July 31, 2019	Change in Unrealized Appreciation (Depreciation) from Investments Still Held at July 31, 2019
Common Stock
Southern Energy Holdings Group Ltd.(j)	$321,307	$–	$14,511	$(133,102)	$56,472	$(52,919)	$321,307	$–	$206,269	$(133,102)
Total	$321,307	$–	$14,511	$(133,102)	$56,472	$(52,919)	$321,307	$–	$206,269	$(133,102)
Information about Level 3 fair value measurements as of July 31, 2019.
Security Type	Fair Value	Valuation Technique				Unobservable Inputs
Common Stock	$206,269	Issuer Specific Facts				Company Information

(j) Security has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees.

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Global Agribusiness Small Cap ETF

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks - 99.9%
Argentina - 2.0%
Adecoagro SA*		23,472	$	158,436
Australia - 15.4%
Australian Agricultural Co., Ltd.*		60,007		41,153
Bega Cheese Ltd.(a)		38,880		118,715
Costa Group Holdings Ltd.(a)		60,213		164,762
Elders Ltd.(a)		26,221		133,197
GrainCorp Ltd., Class A		45,469		268,893
Inghams Group Ltd.(a)		59,476		166,435
Nufarm Ltd.(a)		62,580		210,491
Ruralco Holdings Ltd.		15,475		45,331
Select Harvests Ltd.		18,823		96,784
Total Australia				1,245,761
Canada - 5.5%
Maple Leaf Foods, Inc.		15,179		357,758
Village Farms International, Inc.*(a)		7,801		89,467
Total Canada				447,225
China - 6.3%
Ausnutria Dairy Corp., Ltd.*(a)		88,912		161,289
China BlueChemical Ltd., Class H		359,385		99,167
China Huishan Dairy Holdings Co., Ltd.*(b)(c)		938,079		—
COFCO Meat Holdings Ltd.*		327,030		124,497
Leyou Technologies Holdings Ltd.*(a)		292,678		83,752
Sinofert Holdings Ltd.*(a)		356,377		40,063
Total China				508,768
Indonesia - 3.4%
PT Astra Agro Lestari Tbk		79,346		56,466
PT Japfa Comfeed Indonesia Tbk		1,013,177		115,651
PT Malindo Feedmill Tbk		194,122		15,372
PT Perusahaan Perkebunan London Sumatra Indonesia Tbk		559,445		42,306
PT Sawit Sumbermas Sarana Tbk		604,905		43,587
Total Indonesia				273,382
Japan - 32.8%
Fuji Oil Holdings, Inc.		10,489		324,596
Itoham Yonekyu Holdings, Inc.		30,113		198,858
Kumiai Chemical Industry Co., Ltd.		22,479		185,712
Megmilk Snow Brand Co., Ltd.		10,050		216,597
Morinaga Milk Industry Co., Ltd.		8,347		326,346
NH Foods Ltd.		18,459		689,397
Nichirei Corp.		24,677		575,475
Nihon Nohyaku Co., Ltd.		7,481		31,832
Prima Meat Packers Ltd.		5,783		109,242
Total Japan				2,658,055
Singapore - 5.7%
Golden Agri-Resources Ltd.		1,282,819		276,520
Japfa Ltd.		73,467		27,378
Olam International Ltd.		112,283		159,168
Total Singapore				463,066
Thailand - 2.7%
GFPT PCL		196,311		115,533
Thai Vegetable Oil PCL		108,420		101,352
Total Thailand				216,885
United States - 26.1%
AGCO Corp.		11,079		853,083
Cal-Maine Foods, Inc.		4,605		183,141
		Shares		Value
Common Stocks (continued)
United States (continued)
CVR Partners LP		15,022	$	60,689
Element Solutions, Inc.*(a)		45,850		459,417
Sanderson Farms, Inc.		3,983		521,853
Titan International, Inc.		10,008		37,830
Total United States				2,116,013
Total Common Stocks
(Cost $8,480,251)				8,087,591
Rights - 0.0%
Australia — 0.0%
Elders Ltd., expires 8/9/19*(b)(c)
(Cost $0)		3,414		—
Short-Term Investment — 0.1%
Money Market Fund — 0.1%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 2.34%(d)
(Cost $6,045)		6,045		6,045
Investment of Cash Collateral For Securities Loaned — 10.1%
Money Market Fund — 10.1%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.26%(d)
(Cost $819,334)		819,334		819,334
Total Investments — 110.1%
(Cost $9,305,630)				8,912,970
Other Assets and Liabilities, Net — (10.1)%				(820,461	)
Net Assets — 100.0%			$	8,092,509

				% of
Industry	Value			Net Assets
Crop Production and Farming	$	3,797,891			46.9%
Livestock Operations		1,597,881			19.8
Agricultural Chemicals		1,087,371			13.4
Agricultural Machinery		890,913			11.0
Money Market Fund		825,379			10.2
Agricultural Supplies and Logistics		713,535			8.8
Total Investments	$	8,912,970			110.1%
Other Assets and Liabilities, Net		(820,461	)		(10.1	)
Total Net Assets	$	8,092,509			100.0%

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Global Agribusiness Small Cap ETF (continued)

July 31, 2019 (unaudited)

*	Non-income producing securities.
(a)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $1,426,543; total market value of collateral held by the Fund was $1,502,566.  Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $683,232.
(b)	Securities have been deemed illiquid because they may not be able to be resold within seven days at approximately the price shown. At July 31, 2019, the value of these securities was $–.
(c)	Securities are fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. The securities are fair valued using significant unobservable inputs.
(d)	Reflects the 1-day yield at July 31, 2019.

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.
Asset Valuation Inputs
Description		Level 1		Level 2		Level 3			Total
Investments in Securities:(e)
Common Stocks
Argentina	$	158,436	$	–	$	–		$	158,436
Australia		1,245,761		–		–			1,245,761
Canada		447,225		–		–			447,225
China		508,768		–		–	(f)		508,768
Indonesia		273,382		–		–			273,382
Japan		2,658,055		–		–			2,658,055
Singapore		463,066		–		–			463,066
Thailand		216,885		–		–			216,885
United States		2,116,013		–		–			2,116,013
Total Common Stocks		8,087,591		–		–			8,087,591
Rights
Australia		–		–		–	(f)		–
Short-Term Investment:
Money Market Fund		6,045		–		–			6,045
Investment of Cash Collateral for Securities Loaned:
Money Market Fund		819,334		–		–			819,334
Total Investments in Securities	$	8,912,970	$	–	$	–		$	8,912,970

(e)	For a complete listing of investments and their countries, see the Schedules of Investments.
(f)	The Level 3 securities, valued in total at $–, have been deemed illiquid and have been fair valued in good faith in accordance with procedures established by the Board of Trustees.

For the period ended July 31, 2019, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Global Agribusiness Small Cap ETF (continued)

July 31, 2019 (unaudited)

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:
Investments in Securities	Balance as of April 30, 2019	Accrued Discounts (Premiums)	Realized Gain (Loss)	Change in Unrealized Appreciation (Depreciation)	Purchases	Sales	Transfers into Level 3	Transfers out of Level 3	Balance as of July 31, 2019	Change in Unrealized Appreciation (Depreciation) from Investments Still Held at July 31, 2019
Common Stocks
China Huishan Dairy Holdings Co., Ltd.(g)	$–(h)	$–	$–	$–	$–	$–	$–	$–	$–(h)	$–
Rights
Elders Ltd.(g)	–	–	–	–	–	–	–	–	–(h)	–
Total	$–	$–	$–	$–	$–	$–	$–	$–	$–	$–
Information about Level 3 fair value measurements as of July 31, 2019.
Security Type	Fair Value	Valuation Technique				Unobservable Inputs
Common Stock	$–	Issuer Specific Facts				Company Information
Rights	–	Issuer Specific Facts				Subscription Terms

(g)	Security has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees.
(h)	Includes a level 3 security valued at $-.

See Notes to Schedules of Investments.

Schedules of Investments - IQ U.S. Real Estate Small Cap ETF

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks - 99.9%
Diversified REITs - 17.0%
Alexander & Baldwin, Inc.		42,649	$	1,002,678
American Assets Trust, Inc.		30,368		1,409,075
Empire State Realty Trust, Inc., Class A		110,996		1,555,054
Exantas Capital Corp.		19,030		212,946
Granite Point Mortgage Trust, Inc.(a)		32,821		626,881
Industrial Logistics Properties Trust		40,515		866,211
Kennedy-Wilson Holdings, Inc.(a)		77,629		1,670,576
Monmouth Real Estate Investment Corp.		55,523		765,662
New Senior Investment Group, Inc.		50,728		361,691
Preferred Apartment Communities, Inc., Class A(a)		26,923		390,114
Redwood Trust, Inc.		60,120		1,017,231
Washington Real Estate Investment Trust		49,993		1,347,311
Winthrop Realty Trust*(a)(b)(c)		29,107		9,896
Total Diversified REITs				11,235,326
Hotel REITs - 11.2%
Ashford Hospitality Trust, Inc.		61,214		165,890
Braemar Hotels & Resorts, Inc.		19,904		181,525
Chatham Lodging Trust		28,705		512,671
Chesapeake Lodging Trust		37,328		1,025,400
DiamondRock Hospitality Co.		124,856		1,257,300
Hersha Hospitality Trust(a)		23,819		372,053
MGM Growth Properties LLC, Class A		56,834		1,697,063
Summit Hotel Properties, Inc.		64,745		719,317
Xenia Hotels & Resorts, Inc.(a)		70,887		1,519,108
Total Hotel REITs				7,450,327
Mortgage REITs - 14.0%
AG Mortgage Investment Trust, Inc.		20,247		331,241
Anworth Mortgage Asset Corp.		61,005		234,869
Apollo Commercial Real Estate Finance, Inc.(a)		96,347		1,813,251
Arbor Realty Trust, Inc.(a)		53,194		648,435
ARMOUR Residential REIT, Inc.		37,118		663,299
Capstead Mortgage Corp.(a)		52,909		446,023
Dynex Capital, Inc.		15,117		246,407
Front Yard Residential Corp.		29,139		349,959
Invesco Mortgage Capital, Inc.		80,865		1,332,655
iStar, Inc.(a)		38,598		509,494
KKR Real Estate Finance Trust, Inc.(a)		14,993		300,310
New York Mortgage Trust, Inc.(a)		132,114		807,217
Orchid Island Capital, Inc.		33,560		207,736
PennyMac Mortgage Investment Trust		47,070		1,036,952
Western Asset Mortgage Capital Corp.		32,515		330,352
Total Mortgage REITs				9,258,200
Office REITs - 11.6%
Brandywine Realty Trust		109,586		1,616,393
City Office REIT, Inc.		23,601		292,180
Easterly Government Properties, Inc.		42,664		805,070
Franklin Street Properties Corp.		65,179		525,343
Global Net Lease, Inc.(a)		52,757		1,029,817
Lexington Realty Trust		144,015		1,421,428
Mack-Cali Realty Corp.		47,693		1,134,139
Office Properties Income Trust(a)		29,727		837,410
Total Office REITs				7,661,780
Residential REITs - 2.0%
Essential Properties Realty Trust, Inc.		30,989		654,488
Independence Realty Trust, Inc.		56,224		694,366
Total Residential REITs				1,348,854
		Shares		Value
Common Stocks (continued)
Retail REITs - 20.3%
Acadia Realty Trust		51,818	$	1,454,531
Agree Realty Corp.(a)		23,731		1,586,417
Brookfield Property REIT, Inc., Class A		57,105		1,102,698
CBL & Associates Properties, Inc.(a)		105,909		111,204
Cedar Realty Trust, Inc.		53,638		149,114
Four Corners Property Trust, Inc.		42,828		1,153,786
Kite Realty Group Trust		52,522		835,625
Pennsylvania Real Estate Investment Trust(a)		37,638		225,075
Retail Opportunity Investments Corp.		70,316		1,275,532
RPT Realty(a)		48,712		596,722
Seritage Growth Properties, Class A(a)		20,463		854,740
SITE Centers Corp.		87,627		1,248,685
Tanger Factory Outlet Centers, Inc.		57,995		920,961
Urban Edge Properties		72,043		1,205,279
Washington Prime Group, Inc.(a)		116,912		424,391
Whitestone REIT		24,391		310,985
Total Retail REITs				13,455,745
Specialized REITs - 23.8%
American Finance Trust, Inc.		66,753		781,678
CareTrust REIT, Inc.		59,384		1,379,490
CatchMark Timber Trust, Inc., Class A		30,598		310,876
Global Medical REIT, Inc.		21,776		224,946
Innovative Industrial Properties, Inc.(a)		5,834		616,479
LTC Properties, Inc.(a)		24,634		1,135,381
National Storage Affiliates Trust		35,579		1,077,688
Physicians Realty Trust		116,161		1,999,131
QTS Realty Trust, Inc., Class A(a)		34,294		1,587,126
Senior Housing Properties Trust		147,975		1,213,395
Spirit MTA REIT		26,966		226,784
STAG Industrial, Inc.		79,124		2,351,565
Terreno Realty Corp.		38,902		1,900,752
Uniti Group, Inc.(a)		111,053		935,066
Total Specialized REITs				15,740,357
Total Common Stocks
(Cost $70,142,221)				66,150,589
Short-Term Investment — 0.0%(d)
Money Market Fund — 0.0%(d)
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 2.34%(e)
(Cost $28,933)		28,933		28,933
Investment of Cash Collateral For Securities Loaned — 4.6%
Money Market Fund — 4.6%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.26%(e)
(Cost $3,043,685)		3,043,685		3,043,685
Total Investments — 104.5%
(Cost $73,214,839)				69,223,207
Other Assets and Liabilities,  Net — (4.5)%				(2,981,765	)
Net Assets — 100.0%			$	66,241,442

________

* Non-income producing securities.

See Notes to Schedules of Investments.

Schedules of Investments - IQ U.S. Real Estate Small Cap ETF (continued)

July 31, 2019 (unaudited)

(a)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $11,993,609; total market value of collateral held by the Fund was $12,412,815.  Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $9,369,130.
(b)	Security has been deemed illiquid because it may not be able to be resold within seven days at approximately the price shown. At July 31, 2019, the value of this security was $9,896.
(c)	Security is fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. The Security is fair valued using significant unobservable inputs.
(d)	Less than 0.05%.
(e)	Reflects the 1-day yield at July 31, 2019.

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3			Total
Investments in Securities:(f)
Common Stocks
Diversified REITs	$	11,225,430	$	–	$	9,896	(g)	$	11,235,326
Hotel REITs		7,450,327		–		–			7,450,327
Mortgage REITs		9,258,200		–		–			9,258,200
Office REITs		7,661,780		–		–			7,661,780
Residential REITs		1,348,854		–		–			1,348,854
Retail REITs		13,455,745		–		–			13,455,745
Specialized REITs		15,740,357		–		–			15,740,357
Total Common Stocks		66,140,693		–		9,896			66,150,589
Short-Term Investment:
Money Market Fund		28,933		–		–			28,933
Investment of Cash Collateral for Securities Loaned:
Money Market Fund		3,043,685		–		–			3,043,685
Total Investments in Securities	$	69,213,311	$	–	$	9,896		$	69,223,207

(f)	For a complete listing of investments and their industries, see the Schedules of Investments.
(g)	The Level 3 security, valued at $9,896, has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees.

For the period ended July 31, 2019, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:
Investments in Securities	Balance as of April 30, 2019	Accrued Discounts (Premiums)	Realized Gain (Loss)	Change in Unrealized Appreciation (Depreciation)	Purchases	Sales	Transfers into Level 3	Transfers out of Level 3	Balance as of July 31, 2019	Change in Unrealized Appreciation (Depreciation) from Investments Still Held at July 31, 2019
Common Stocks
Winthrop Realty Trust(h)	$9,896	$–	$–	$–	$–	$–	$–	$–	$9,896	$–

(h)	Security has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees.
Information about Level 3 fair value measurements as of July 31, 2019.
Security Type		Fair Value	Valuation Technique	Unobservable Inputs
Common Stock		$9,896	Issuer Specific Facts	Company Information

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ S&P High Yield Low Volatility Bond ETF

July 31, 2019 (unaudited)

	Principal Amount		Value
Long - Term Bonds 97.8%
Corporate Bonds — 90.9%
Consumer Discretionary — 10.5%
Allison Transmission, Inc.
5.000%, due 10/1/24‡	$	137,000	$	139,226
5.875%, due 6/1/29‡		88,000		93,390
Boyd Gaming Corp.
6.000%, due 8/15/26		107,000		111,815
6.375%, due 4/1/26		112,000		118,160
Cedar Fair LP
5.250%, due 7/15/29‡		85,000		87,762
Cedar Fair LP / Canada's Wonderland Co. / Magnum Management Corp.
5.375%, due 6/1/24		75,000		77,062
Cedar Fair LP / Canada's Wonderland Co. / Magnum Management Corp. / Millennium Op
5.375%, due 4/15/27		75,000		78,937
Churchill Downs, Inc.
4.750%, due 1/15/28‡		55,000		55,069
5.500%, due 4/1/27‡		107,000		112,082
Dana, Inc.
5.500%, due 12/15/24		58,000		58,725
Eldorado Resorts, Inc.
6.000%, due 4/1/25		142,000		149,100
6.000%, due 9/15/26		83,000		89,640
ESH Hospitality, Inc.
5.250%, due 5/1/25‡		201,000		206,527
Goodyear Tire & Rubber Co. (The)
5.000%, due 5/31/26		135,000		134,662
5.125%, due 11/15/23		167,000		169,087
Hanesbrands, Inc.
4.625%, due 5/15/24‡		152,000		157,510
4.875%, due 5/15/26‡		136,000		141,950
Hilton Domestic Operating Co., Inc.
4.250%, due 9/1/24		124,000		125,395
4.875%, due 1/15/30‡		140,000		143,850
5.125%, due 5/1/26		285,000		295,687
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp.
4.625%, due 4/1/25		133,000		136,325
4.875%, due 4/1/27		116,000		120,350
International Game Technology PLC
6.250%, due 2/15/22‡		223,000		234,986
6.250%, due 1/15/27‡		129,000		140,288
6.500%, due 2/15/25‡		178,000		195,132
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC
4.750%, due 6/1/27‡		107,000		109,274
5.000%, due 6/1/24‡		178,000		183,785
5.250%, due 6/1/26‡		153,000		158,929
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc.
4.500%, due 9/1/26		78,000		80,048
5.625%, due 5/1/24		161,000		171,868
5.750%, due 2/1/27‡		114,000		122,978
MGM Resorts International
4.625%, due 9/1/26		96,000		98,400
5.500%, due 4/15/27		151,000		160,060
5.750%, due 6/15/25		151,000		163,080
6.000%, due 3/15/23		199,000		216,413
6.625%, due 12/15/21		188,000		203,510
		Principal Amount		Value
Corporate Bonds (continued)
Consumer Discretionary (continued)
MGM Resorts International (continued)
7.750%, due 3/15/22	$	162,000	$	180,630
Panther BF Aggregator 2 LP / Panther Finance Co., Inc.
6.250%, due 5/15/26‡		151,000		156,663
Penske Automotive Group, Inc.
5.500%, due 5/15/26		65,000		67,275
QVC, Inc.
4.450%, due 2/15/25		103,000		104,729
Scientific Games International, Inc.
5.000%, due 10/15/25‡		203,000		207,314
Six Flags Entertainment Corp.
4.875%, due 7/31/24‡		119,000		121,231
5.500%, due 4/15/27‡		107,000		112,618
Viking Cruises Ltd.
5.875%, due 9/15/27‡		140,000		144,550
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp.
5.250%, due 5/15/27‡		150,000		153,375
5.500%, due 3/1/25‡		305,000		319,488
				6,608,935
Consumer Staples — 4.2%
B&G Foods, Inc.
5.250%, due 4/1/25(a)		150,000		149,625
Energizer Holdings, Inc.
5.500%, due 6/15/25‡		98,000		99,470
JBS USA LUX SA / JBS USA Finance, Inc.
5.750%, due 6/15/25‡		185,000		189,625
6.750%, due 2/15/28‡		140,000		150,500
JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc.
6.500%, due 4/15/29‡		225,000		241,594
Lamb Weston Holdings, Inc.
4.625%, due 11/1/24‡		124,000		129,270
4.875%, due 11/1/26‡		123,000		127,920
Pilgrim's Pride Corp.
5.750%, due 3/15/25‡		165,000		170,362
5.875%, due 9/30/27‡		132,000		138,600
Post Holdings, Inc.
5.000%, due 8/15/26‡		283,000		287,245
5.500%, due 3/1/25‡		170,000		175,950
5.500%, due 12/15/29‡		115,000		116,150
5.625%, due 1/15/28‡		128,000		132,000
5.750%, due 3/1/27‡		189,000		195,615
Spectrum Brands, Inc.
5.750%, due 7/15/25		156,000		161,655
Tempur Sealy International, Inc.
5.500%, due 6/15/26		99,000		103,455
5.625%, due 10/15/23		66,000		67,898
				2,636,934
Energy — 7.9%
AmeriGas Partners LP / AmeriGas Finance Corp.
5.500%, due 5/20/25		132,000		138,930
5.625%, due 5/20/24		132,000		140,085
5.750%, due 5/20/27		63,000		66,150
5.875%, due 8/20/26		86,000		91,160
Cheniere Corpus Christi Holdings LLC
5.125%, due 6/30/27		223,000		242,512
5.875%, due 3/31/25		222,000		244,200
7.000%, due 6/30/24		210,000		238,875

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ S&P High Yield Low Volatility Bond ETF (continued)

July 31, 2019 (unaudited)

	Principal Amount		Value
Corporate Bonds (continued)
Energy (continued)
Cheniere Energy Partners LP
5.250%, due 10/1/25	$	237,000	$	245,295
5.625%, due 10/1/26		170,000		179,775
DCP Midstream Operating LP
5.125%, due 5/15/29		90,000		92,475
5.375%, due 7/15/25		125,000		132,344
Diamondback Energy, Inc.
4.750%, due 11/1/24‡		124,000		127,410
5.375%, due 5/31/25		112,000		117,600
Diamondback Energy, Inc. - Entitlement
4.750%, due 11/1/24		75,000		77,062
Endeavor Energy Resources LP / EER Finance, Inc.
5.500%, due 1/30/26‡		99,000		102,465
5.750%, due 1/30/28‡		68,000		72,080
EnLink Midstream LLC
5.375%, due 6/1/29		75,000		77,396
EnLink Midstream Partners LP
4.150%, due 6/1/25		107,000		105,676
4.850%, due 7/15/26		81,000		82,403
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp.
5.250%, due 3/15/22‡		74,000		75,942
Murphy Oil Corp.
5.750%, due 8/15/25		82,000		83,959
NuStar Logistics LP
5.625%, due 4/28/27		91,000		93,616
6.000%, due 6/1/26		75,000		78,750
Parsley Energy LLC / Parsley Finance Corp.
5.250%, due 8/15/25‡		70,000		70,525
5.375%, due 1/15/25‡		102,000		103,275
5.625%, due 10/15/27‡		113,000		116,390
Springleaf Finance Corp.
8.250%, due 12/15/20		175,000		186,594
Sunoco LP / Sunoco Finance Corp.
4.875%, due 1/15/23		142,000		145,017
5.500%, due 2/15/26		131,000		135,912
6.000%, due 4/15/27		108,000		113,670
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp.
4.750%, due 10/1/23‡		88,000		89,210
5.500%, due 9/15/24‡		117,000		118,755
Targa Resources Partners LP / Targa Resources Partners Finance Corp.
5.000%, due 1/15/28		132,000		133,815
5.125%, due 2/1/25		50,000		51,437
5.375%, due 2/1/27		77,000		79,695
5.875%, due 4/15/26		146,000		154,213
6.500%, due 7/15/27‡		116,000		126,005
6.875%, due 1/15/29‡		141,000		155,453
WPX Energy, Inc.
5.250%, due 9/15/24		107,000		107,268
5.750%, due 6/1/26(a)		81,000		82,823
8.250%, due 8/1/23		78,000		87,750
				4,963,967
Financials — 7.2%
Ally Financial, Inc.
3.875%, due 5/21/24		125,000		128,906
4.125%, due 3/30/20		127,000		127,952
4.125%, due 2/13/22		55,000		56,375
4.250%, due 4/15/21		91,000		92,820
4.625%, due 3/30/25		103,000		110,081
		Principal Amount		Value
Corporate Bonds (continued)
Financials (continued)
Ally Financial, Inc. (continued)
5.125%, due 9/30/24	$	100,000	$	109,125
8.000%, due 11/1/31		314,000		417,620
CIT Group, Inc.
4.125%, due 3/9/21		79,000		80,382
4.750%, due 2/16/24		89,000		94,229
5.000%, due 8/15/22		184,000		195,040
5.250%, due 3/7/25		70,000		76,737
Fortress Transportation & Infrastructure Investors LLC
6.750%, due 3/15/22‡		110,000		114,675
MSCI, Inc.
4.750%, due 8/1/26‡		109,000		113,360
5.375%, due 5/15/27‡		43,000		45,580
5.750%, due 8/15/25‡		142,000		147,680
Navient Corp.
5.000%, due 10/26/20		58,000		59,160
5.500%, due 1/25/23		136,000		141,270
5.875%, due 3/25/21		88,000		91,520
6.500%, due 6/15/22		147,000		156,739
6.625%, due 7/26/21		147,000		156,004
7.250%, due 9/25/23		88,000		96,030
8.000%, due 3/25/20		239,000		246,469
Quicken Loans, Inc.
5.250%, due 1/15/28‡		150,000		152,086
5.750%, due 5/1/25‡		204,000		211,025
Refinitiv US Holdings, Inc.
6.250%, due 5/15/26‡		225,000		242,437
Springleaf Finance Corp.
5.625%, due 3/15/23		147,000		157,658
6.125%, due 5/15/22		145,000		155,513
6.125%, due 3/15/24		221,000		239,233
6.875%, due 3/15/25		185,000		206,044
7.125%, due 3/15/26		250,000		280,000
				4,501,750
Health Care — 10.3%
Acadia Healthcare Co., Inc.
5.625%, due 2/15/23		108,000		108,810
Avantor, Inc.
6.000%, due 10/1/24‡		247,000		264,290
Bausch Health Cos., Inc.
5.500%, due 11/1/25‡		290,000		301,600
5.750%, due 8/15/27‡		68,000		71,485
Centene Corp.
4.750%, due 5/15/22		169,000		170,901
4.750%, due 1/15/25		216,000		220,320
5.375%, due 6/1/26‡		268,000		282,405
5.625%, due 2/15/21		204,000		206,805
DaVita, Inc.
5.000%, due 5/1/25		225,000		220,500
5.125%, due 7/15/24		272,000		272,000
Elanco Animal Health, Inc.
3.912%, due 8/27/21		75,000		76,592
HCA Healthcare, Inc.
6.250%, due 2/15/21		128,000		134,080
HCA, Inc.
5.375%, due 2/1/25		356,000		386,705
5.375%, due 9/1/26		123,000		133,301
5.625%, due 9/1/28		222,000		244,755
5.875%, due 5/1/23		188,000		205,860
5.875%, due 2/15/26		214,000		238,075
5.875%, due 2/1/29		151,000		168,365

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ S&P High Yield Low Volatility Bond ETF (continued)

July 31, 2019 (unaudited)

	Principal Amount		Value
Corporate Bonds (continued)
Health Care (continued)
HCA, Inc. (continued)
7.500%, due 2/15/22	$	288,000	$	318,960
Hologic, Inc.
4.375%, due 10/15/25‡		150,000		152,437
IQVIA, Inc.
4.875%, due 5/15/23‡		105,000		107,494
5.000%, due 10/15/26‡		223,000		231,920
5.000%, due 5/15/27‡		130,000		135,200
MEDNAX, Inc.
5.250%, due 12/1/23‡		108,000		108,405
Molina Healthcare, Inc.
5.375%, due 11/15/22		101,000		105,292
Service Corp. International
4.625%, due 12/15/27		82,000		83,947
5.125%, due 6/1/29		125,000		131,719
Teleflex, Inc.
4.625%, due 11/15/27		63,000		65,441
Tenet Healthcare Corp.
4.375%, due 10/1/21		157,000		159,944
4.625%, due 7/15/24		306,000		311,355
5.125%, due 5/1/25		264,000		263,010
6.000%, due 10/1/20		244,000		251,930
WellCare Health Plans, Inc.
5.250%, due 4/1/25		199,000		206,463
5.375%, due 8/15/26‡		105,000		111,038
				6,451,404
Industrials — 9.0%
ADT Security Corp. (The)
3.500%, due 7/15/22		165,000		163,762
AECOM
5.125%, due 3/15/27		124,000		129,890
5.875%, due 10/15/24		148,000		159,470
Aramark Services, Inc.
4.750%, due 6/1/26		71,000		72,864
5.000%, due 4/1/25‡		107,000		111,280
5.000%, due 2/1/28‡		178,000		185,565
5.125%, due 1/15/24		149,000		153,284
Beacon Roofing Supply, Inc.
4.875%, due 11/1/25‡		200,000		198,000
Builders FirstSource, Inc.
5.625%, due 9/1/24‡		109,000		113,087
Colfax Corp.
6.000%, due 2/15/24‡		102,000		107,865
Iron Mountain, Inc.
4.375%, due 6/1/21‡		56,000		56,350
4.875%, due 9/15/27‡		171,000		170,145
5.250%, due 3/15/28‡		119,000		119,892
Lennar Corp.
4.125%, due 1/15/22		87,000		88,849
4.500%, due 4/30/24		96,000		99,725
4.750%, due 4/1/21		40,000		40,952
4.750%, due 5/30/25		82,000		85,690
4.750%, due 11/29/27		151,000		158,550
5.875%, due 11/15/24		83,000		91,200
Prime Security Services Borrower LLC / Prime Finance, Inc.
5.250%, due 4/15/24‡		126,000		128,362
5.750%, due 4/15/26‡		100,000		104,250
PulteGroup, Inc.
4.250%, due 3/1/21		40,000		40,700
5.000%, due 1/15/27		107,000		112,617
5.500%, due 3/1/26		129,000		139,165
		Principal Amount		Value
Corporate Bonds (continued)
Industrials (continued)
Sabre GLBL, Inc.
5.250%, due 11/15/23‡	$	63,000	$	64,733
5.375%, due 4/15/23‡		110,000		112,475
Standard Industries, Inc.
4.750%, due 1/15/28‡		155,000		153,063
5.000%, due 2/15/27‡		76,000		77,330
5.375%, due 11/15/24‡		147,000		150,675
5.500%, due 2/15/23‡		78,000		79,755
6.000%, due 10/15/25‡		198,000		207,900
Toll Brothers Finance Corp.
4.875%, due 3/15/27		63,000		66,465
TransDigm, Inc.
6.250%, due 3/15/26‡		610,000		642,025
TRI Pointe Group, Inc. / TRI Pointe Homes, Inc.
5.875%, due 6/15/24		75,000		78,188
United Rentals North America, Inc.
4.625%, due 10/15/25		148,000		150,220
4.875%, due 1/15/28		276,000		281,175
5.250%, due 1/15/30		100,000		102,250
5.500%, due 7/15/25		125,000		129,688
5.500%, due 5/15/27		151,000		157,606
5.875%, due 9/15/26		142,000		150,520
6.500%, due 12/15/26		170,000		183,600
				5,619,182
Information Technology — 4.4%
CDK Global, Inc.
4.875%, due 6/1/27		97,000		100,395
5.000%, due 10/15/24		83,000		87,669
5.250%, due 5/15/29‡		75,000		77,625
5.875%, due 6/15/26		63,000		66,937
CDW LLC / CDW Finance Corp.
5.000%, due 9/1/23		90,000		91,350
5.000%, due 9/1/25		107,000		111,547
5.500%, due 12/1/24		73,000		79,022
CommScope, Inc.
5.500%, due 3/1/24‡		213,000		216,727
EMC Corp.
2.650%, due 6/1/20		325,000		322,969
3.375%, due 6/1/23(a)		133,000		131,338
Match Group, Inc.
5.000%, due 12/15/27‡		64,000		66,960
Sensata Technologies BV
5.000%, due 10/1/25‡		103,000		108,279
Sensata Technologies UK Financing Co. PLC
6.250%, due 2/15/26‡		132,000		139,920
SS&C Technologies, Inc.
5.500%, due 9/30/27‡		307,000		319,280
Symantec Corp.
5.000%, due 4/15/25‡		188,000		191,189
Western Digital Corp.
4.750%, due 2/15/26		360,000		356,400
Xerox Corp.
4.125%, due 3/15/23		169,000		169,932
4.500%, due 5/15/21		149,000		152,788
				2,790,327
Materials — 8.1%
Alcoa Nederland Holding BV
6.125%, due 5/15/28‡		100,000		105,000
7.000%, due 9/30/26‡		50,000		53,500

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ S&P High Yield Low Volatility Bond ETF (continued)

July 31, 2019 (unaudited)

	Principal Amount		Value
Corporate Bonds (continued)
Materials (continued)
Arconic, Inc.
5.125%, due 10/1/24	$	200,000	$	211,000
5.400%, due 4/15/21		189,000		195,615
6.150%, due 8/15/20		141,000		145,201
Ashland LLC
4.750%, due 8/15/22		182,000		188,825
Ball Corp.
4.000%, due 11/15/23		155,000		160,812
4.375%, due 12/15/20		163,000		166,056
4.875%, due 3/15/26		108,000		114,345
5.250%, due 7/1/25		152,000		165,300
Berry Global, Inc.
4.500%, due 2/15/26‡		82,000		81,795
4.875%, due 7/15/26‡		200,000		208,097
5.125%, due 7/15/23		112,000		114,520
5.625%, due 7/15/27‡(a)		75,000		78,656
Blue Cube Spinco LLC
9.750%, due 10/15/23		100,000		109,875
10.000%, due 10/15/25		80,000		89,900
Constellium SE
5.875%, due 2/15/26‡		75,000		77,906
Crown Americas LLC / Crown Americas Capital Corp. IV
4.500%, due 1/15/23		150,000		154,687
Crown Americas LLC / Crown Americas Capital Corp. VI
4.750%, due 2/1/26		151,000		154,964
Freeport-McMoRan, Inc.
3.550%, due 3/1/22		329,000		329,822
3.875%, due 3/15/23		324,000		324,810
4.000%, due 11/14/21		65,000		66,138
4.550%, due 11/14/24		129,000		132,225
5.400%, due 11/14/34		125,000		120,938
5.450%, due 3/15/43		310,000		287,137
Novelis Corp.
5.875%, due 9/30/26‡		225,000		233,438
Olin Corp.
5.000%, due 2/1/30		82,000		79,643
5.125%, due 9/15/27		89,000		89,334
5.625%, due 8/1/29		120,000		123,000
Owens-Brockway Glass Container, Inc.
5.000%, due 1/15/22‡		90,000		92,250
5.875%, due 8/15/23‡		98,000		104,860
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu
5.125%, due 7/15/23‡		233,000		236,786
Sealed Air Corp.
4.875%, due 12/1/22‡		99,000		104,198
5.125%, due 12/1/24‡		37,000		39,590
WR Grace & Co.-Conn.
5.125%, due 10/1/21‡		119,000		123,463
				5,063,686
Media — 13.0%
AMC Networks, Inc.
4.750%, due 8/1/25		114,000		116,137
5.000%, due 4/1/24		168,000		172,620
CCO Holdings LLC / CCO Holdings Capital Corp.
4.000%, due 3/1/23‡		13,000		13,049
5.000%, due 2/1/28‡		293,000		300,691
5.125%, due 2/15/23		100,000		101,500
		Principal Amount		Value
Corporate Bonds (continued)
Media (continued)
CCO Holdings LLC / CCO Holdings Capital Corp. (continued)
5.125%, due 5/1/23‡	$	127,000	$	130,016
5.125%, due 5/1/27‡		303,000		312,469
5.375%, due 5/1/25‡		50,000		51,750
5.375%, due 6/1/29‡		135,000		139,725
5.500%, due 5/1/26‡		170,000		178,075
5.750%, due 2/15/26‡		269,000		282,786
5.875%, due 4/1/24‡		219,000		227,486
5.875%, due 5/1/27‡		91,000		95,550
CSC Holdings LLC
5.250%, due 6/1/24		70,000		72,975
5.375%, due 7/15/23‡		200,000		204,500
5.375%, due 2/1/28‡		178,000		185,120
5.500%, due 5/15/26‡		260,000		271,050
5.500%, due 4/15/27‡		223,000		234,150
6.500%, due 2/1/29‡		300,000		330,750
6.625%, due 10/15/25‡		119,000		126,735
6.750%, due 11/15/21		113,000		120,910
10.875%, due 10/15/25‡		250,000		285,300
DISH DBS Corp.
5.125%, due 5/1/20		186,000		188,093
6.750%, due 6/1/21		315,000		328,781
Gray Television, Inc.
5.125%, due 10/15/24‡		88,000		90,090
5.875%, due 7/15/26‡		96,000		99,720
7.000%, due 5/15/27‡		125,000		136,250
iHeartCommunications, Inc.
6.375%, due 5/1/26		125,000		133,125
Lamar Media Corp.
5.750%, due 2/1/26		100,000		105,500
Lions Gate Capital Holdings LLC
5.875%, due 11/1/24‡		78,000		81,315
6.375%, due 2/1/24‡		89,000		93,561
Live Nation Entertainment, Inc.
4.875%, due 11/1/24‡		89,000		91,670
Netflix, Inc.
4.375%, due 11/15/26(a)		158,000		159,580
4.875%, due 4/15/28		236,000		243,080
5.375%, due 11/15/29‡		155,000		162,750
5.500%, due 2/15/22		93,000		98,696
5.875%, due 2/15/25		116,000		126,440
5.875%, due 11/15/28		300,000		329,625
6.375%, due 5/15/29‡		143,000		160,339
Nexstar Broadcasting, Inc.
5.625%, due 8/1/24‡		146,000		151,475
Nexstar Escrow, Inc.
5.625%, due 7/15/27‡		160,000		165,600
Outfront Media Capital LLC / Outfront Media Capital Corp.
5.000%, due 8/15/27‡		100,000		101,500
Sirius XM Radio, Inc.
3.875%, due 8/1/22‡		164,000		165,640
4.625%, due 7/15/24‡		200,000		205,000
5.000%, due 8/1/27‡		244,000		251,625
5.375%, due 4/15/25‡		161,000		167,038
5.375%, due 7/15/26‡		144,000		150,300
5.500%, due 7/1/29‡		205,000		213,969
				8,154,106

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ S&P High Yield Low Volatility Bond ETF (continued)

July 31, 2019 (unaudited)

	Principal Amount		Value
Corporate Bonds (continued)
Real Estate — 1.0%
Brookfield Property REIT, Inc. / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL
5.750%, due 5/15/26‡	$	150,000	$	155,445
Howard Hughes Corp. (The)
5.375%, due 3/15/25‡		161,000		165,428
Starwood Property Trust, Inc.
3.625%, due 2/1/21		73,000		73,274
4.750%, due 3/15/25		88,000		89,100
5.000%, due 12/15/21		129,000		133,031
				616,278
Telecommunication Services — 10.9%
CenturyLink, Inc.
5.625%, due 4/1/25(a)		80,000		80,800
5.800%, due 3/15/22		278,000		289,467
6.450%, due 6/15/21		169,000		177,239
7.500%, due 4/1/24(a)		150,000		164,062
CyrusOne LP / CyrusOne Finance Corp.
5.000%, due 3/15/24		92,000		94,415
5.375%, due 3/15/27		89,000		94,451
Equinix, Inc.
5.375%, due 5/15/27		207,000		222,266
5.875%, due 1/15/26		183,000		194,437
Level 3 Financing, Inc.
5.125%, due 5/1/23		93,000		93,465
5.250%, due 3/15/26		139,000		144,560
5.375%, due 1/15/24		120,000		121,800
5.375%, due 5/1/25		144,000		148,860
5.625%, due 2/1/23		67,000		67,838
SBA Communications Corp.
4.000%, due 10/1/22		108,000		109,215
4.875%, due 7/15/22		126,000		127,260
4.875%, due 9/1/24		176,000		180,840
Sprint Capital Corp.
6.875%, due 11/15/28		380,000		418,000
Sprint Communications, Inc.
6.000%, due 11/15/22		365,000		386,900
7.000%, due 3/1/20‡		190,000		194,038
7.000%, due 8/15/20		200,000		207,500
Sprint Corp.
7.125%, due 6/15/24		400,000		437,000
7.250%, due 9/15/21		353,000		379,034
7.875%, due 9/15/23		660,000		735,075
T-Mobile USA, Inc.
4.000%, due 4/15/22		63,000		63,945
4.500%, due 2/1/26		173,000		176,028
4.750%, due 2/1/28		241,000		247,628
5.125%, due 4/15/25		75,000		77,531
5.375%, due 4/15/27(a)		76,000		80,655
6.000%, due 4/15/24		155,000		161,781
6.500%, due 1/15/26		312,000		331,890
ViaSat, Inc.
5.625%, due 4/15/27‡		101,000		105,798
Zayo Group LLC / Zayo Capital, Inc.
5.750%, due 1/15/27‡		265,000		268,644
6.000%, due 4/1/23		225,000		230,906
				6,813,328
Transportation — 0.6%
American Airlines Group, Inc.
4.625%, due 3/1/20‡		78,000		78,479
5.000%, due 6/1/22‡		110,000		113,274
		Principal Amount		Value
Corporate Bonds (continued)
Transportation (continued)
XPO Logistics, Inc.
6.750%, due 8/15/24‡	$	150,000	$	159,750
				351,503
Utilities — 3.8%
AES Corp.
4.000%, due 3/15/21		88,000		89,540
4.500%, due 3/15/23		43,000		44,182
5.125%, due 9/1/27		88,000		93,060
5.500%, due 4/15/25		56,000		58,100
6.000%, due 5/15/26		118,000		125,670
Calpine Corp.
5.250%, due 6/1/26‡		175,000		176,531
Clearway Energy Operating LLC
5.750%, due 10/15/25‡		92,000		95,910
NextEra Energy Operating Partners LP
4.250%, due 7/15/24‡		100,000		101,500
4.250%, due 9/15/24‡(a)		82,000		83,025
4.500%, due 9/15/27‡		88,000		88,220
NRG Energy, Inc.
5.250%, due 6/15/29‡		100,000		105,250
5.750%, due 1/15/28		160,000		170,400
6.625%, due 1/15/27		192,000		204,720
7.250%, due 5/15/26		157,000		169,560
TerraForm Power Operating LLC
4.250%, due 1/31/23‡		81,000		81,101
5.000%, due 1/31/28‡		103,000		104,287
Vistra Operations Co. LLC
5.000%, due 7/31/27‡		185,000		189,163
5.500%, due 9/1/26‡		170,000		178,075
5.625%, due 2/15/27‡		211,000		222,078
				2,380,372
Total Corporate Bonds
(Cost $55,843,442)				56,951,772
Foreign Bonds — 6.9%
Consumer Discretionary — 1.9%
1011778 BC ULC / New Red Finance, Inc., (Canada)
4.250%, due 5/15/24‡(a)		263,000		269,246
5.000%, due 10/15/25‡		433,000		442,201
Fiat Chrysler Automobiles NV, (United Kingdom)
4.500%, due 4/15/20		205,000		207,050
5.250%, due 4/15/23		256,000		268,800
				1,187,297
Energy — 0.3%
Aker BP ASA, (Norway)
4.750%, due 6/15/24‡		130,000		133,900
5.875%, due 3/31/25‡		75,000		78,677
				212,577
Industrials — 0.3%
Bombardier, Inc., (Canada)
8.750%, due 12/1/21‡		150,000		164,250
Information Technology — 0.8%
Nokia OYJ, (Finland)
3.375%, due 6/12/22		63,000		64,024
4.375%, due 6/12/27		85,000		87,662
Open Text Corp., (Canada)
5.875%, due 6/1/26‡		149,000		158,871

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ S&P High Yield Low Volatility Bond ETF (continued)

July 31, 2019 (unaudited)

	Principal Amount		Value
Foreign Bonds (continued)
Information Technology (continued)
Telefonaktiebolaget LM Ericsson, (Sweden)
4.125%, due 5/15/22	$	157,000	$	161,758
				472,315
Materials — 1.1%
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc., (Ireland)
4.250%, due 9/15/22‡		151,000		153,265
6.000%, due 2/15/25‡		245,000		252,963
FMG Resources August 2006 Pty Ltd., (Australia)
4.750%, due 5/15/22‡		91,000		92,706
5.125%, due 3/15/23‡		102,000		106,080
5.125%, due 5/15/24‡(a)		106,000		110,240
				715,254
Media — 2.1%
Telenet Finance Luxembourg Notes SARL, (Belgium)
5.500%, due 3/1/28‡		200,000		202,400
UPCB Finance IV Ltd., (Netherlands)
5.375%, due 1/15/25‡		175,000		179,375
Videotron Ltd., (Canada)
5.125%, due 4/15/27‡		89,000		93,227
Virgin Media Secured Finance PLC, (United Kingdom)
5.250%, due 1/15/26‡		174,000		177,915
5.500%, due 8/15/26‡		105,000		109,725
5.500%, due 5/15/29‡		225,000		230,063
Ziggo BV, (Netherlands)
5.500%, due 1/15/27‡		322,000		328,843
				1,321,548
Telecommunication Services — 0.4%
Inmarsat Finance PLC, (United Kingdom)
4.875%, due 5/15/22‡		150,000		151,312
Intelsat Jackson Holdings SA, (Luxembourg)
9.500%, due 9/30/22‡		64,000		74,720
				226,032
Total Foreign Bonds
(Cost $4,221,670)				4,299,273
Short-Term Investment — 0.4%
Money Market Fund — 0.4%
BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 2.02%(b)
(Cost $257,867)		257,867		257,867
Investment of Cash Collateral For Securities Loaned — 1.9%
Money Market Fund — 1.9%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.26%(b)
(Cost $1,180,803)		1,180,803		1,180,803
Total Investments — 100.1%
(Cost $61,503,782)				62,689,715
Other Assets and Liabilities, Net — (0.1)%				(56,516	)
Net Assets — 100.0%			$	62,633,199

__________

‡	May be sold to institutional investors only under Rule 144A or securities offered pursuant to section 4 (a) (2) of the Securities Act of 1933, as amended.
(a)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $1,343,408; total market value of collateral held by the Fund was $1,389,931.  Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $209,128.
(b)	Reflects the 1-day yield at July 31, 2019.

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ S&P High Yield Low Volatility Bond ETF (continued)

July 31, 2019 (unaudited)

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Investments in Securities:(c)
Corporate Bonds	$	–	$	56,951,772	$	–	$	56,951,772
Foreign Bonds		–		4,299,273		–		4,299,273
Short-Term Investment:
Money Market Fund		257,867		–		–		257,867
Investment of Cash Collateral for Securities Loaned:
Money Market Fund		1,180,803		–		–		1,180,803
Total Investments in Securities	$	1,438,670	$	61,251,045	$	–	$	62,689,715

(c) For a complete listing of investments and their industries, see the Schedules of Investments.

For the period ended July 31, 2019, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ 500 International ETF

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks - 98.2%
Australia - 3.3%
AGL Energy Ltd.		3,074	$	44,430
Australia & New Zealand Banking Group Ltd.		3,223		62,001
BHP Group Ltd.		8,623		242,253
BlueScope Steel Ltd.		4,911		44,309
Brambles Ltd.		6,063		54,828
Caltex Australia Ltd.		2,986		55,486
CIMIC Group Ltd.		2,025		51,209
Commonwealth Bank of Australia		1,342		76,125
CSL Ltd.		396		62,673
Downer EDI Ltd.		10,872		54,103
Metcash Ltd.		27,634		53,712
National Australia Bank Ltd.		3,176		62,410
Origin Energy Ltd.		10,329		56,527
Qantas Airways Ltd.		17,647		69,452
Ramsay Health Care Ltd.		1,644		82,469
Rio Tinto PLC		3,818		219,629
Sonic Healthcare Ltd.		3,245		62,715
South32 Ltd.		16,197		35,054
Telstra Corp. Ltd.		37,412		102,371
Viva Energy Group Ltd.‡		34,339		56,804
Wesfarmers Ltd.		5,629		152,049
Westpac Banking Corp.		3,336		65,876
Woolworths Group Ltd.		7,470		183,397
Total Australia				1,949,882
Austria - 0.3%
OMV AG		1,758		88,688
voestalpine AG		2,419		64,747
Total Austria				153,435
Belgium - 0.9%
Anheuser-Busch InBev SA/NV		3,744		379,632
Colruyt SA(a)		645		33,875
Solvay SA		648		66,997
Umicore SA		1,632		51,677
Total Belgium				532,181
Canada - 5.9%
Air Canada*		3,223		111,454
Alimentation Couche-Tard, Inc., Class B		4,032		248,402
Bank of Montreal		769		57,859
Bank of Nova Scotia (The)		1,284		68,896
BCE, Inc.		2,218		100,736
Bombardier, Inc., Class B*		43,074		74,461
Brookfield Asset Management, Inc., Class A		2,274		111,990
Canadian Imperial Bank of Commerce		625		49,418
Canadian National Railway Co.		734		69,825
Canadian Natural Resources Ltd.		2,108		53,665
Canadian Tire Corp. Ltd., Class A		468		51,360
Cenovus Energy, Inc.		6,331		59,156
CGI, Inc.*		1,035		80,063
Empire Co., Ltd., Class A		3,263		86,796
Enbridge, Inc.		6,887		231,184
George Weston Ltd.		2,041		162,236
Great-West Lifeco, Inc.		3,015		66,538
Husky Energy, Inc.		5,824		45,416
Imperial Oil Ltd.		3,098		85,262
Loblaw Cos. Ltd.		2,851		148,678
Magna International, Inc.		2,855		144,712
Manulife Financial Corp.		4,595		83,631
Metro, Inc.		1,425		56,017
Nutrien Ltd.		1,863		102,659
Parkland Fuel Corp.		1,936		63,587
Pembina Pipeline Corp.		1,211		44,165
		Shares		Value
Common Stocks (continued)
Canada (continued)
Power Corp. of Canada		3,336	$	71,082
Power Financial Corp.		3,249		71,480
Restaurant Brands International, Inc.		780		57,736
Rogers Communications, Inc., Class B		1,206		62,920
Royal Bank of Canada		1,306		103,653
Saputo, Inc.		1,412		42,861
SNC-Lavalin Group, Inc.		1,918		30,498
Sun Life Financial, Inc.		1,343		56,087
Suncor Energy, Inc.		3,264		94,131
TC Energy Corp.		1,561		76,817
Teck Resources Ltd., Class B		2,261		46,489
TELUS Corp.		1,612		58,236
Thomson Reuters Corp.		798		53,866
Toronto-Dominion Bank (The)		1,632		95,883
WSP Global, Inc.		813		46,087
Total Canada				3,425,992
Denmark - 0.7%
Carlsberg A/S, Class B		392		53,867
DSV A/S		820		78,862
ISS A/S		2,710		76,512
Novo Nordisk A/S, Class B		2,110		101,935
Orsted A/S‡		653		59,997
Vestas Wind Systems A/S		581		48,062
Total Denmark				419,235
Finland - 0.8%
Kesko OYJ, Class B		797		48,664
Kone OYJ, Class B		885		50,844
Neste OYJ		1,764		58,901
Nokia OYJ(a)		22,433		121,875
Outokumpu OYJ(a)		11,676		33,930
Stora Enso OYJ, Class R		5,210		60,531
UPM-Kymmene OYJ		2,262		61,578
Wartsila OYJ Abp		2,792		35,392
Total Finland				471,715
France - 13.3%
Air France-KLM*		12,830		134,621
Air Liquide SA		1,053		146,551
Airbus SE		2,503		356,883
Arkema SA		582		52,942
Atos SE		1,371		111,524
AXA SA		9,293		236,942
BNP Paribas SA		3,771		177,098
Bollore SA		28,356		122,877
Bouygues SA		6,168		222,368
Bureau Veritas SA		2,083		52,391
Capgemini SE		890		114,204
Carrefour SA		17,444		338,042
Casino Guichard Perrachon SA(a)		3,748		139,379
Cie de Saint-Gobain		4,761		184,233
Cie Generale des Etablissements Michelin		667		74,598
Cie Plastic Omnium SA		1,866		49,592
CNP Assurances		4,811		100,168
Credit Agricole SA		8,187		98,264
Danone SA		1,690		147,521
Dassault Systemes SE		275		42,254
Eiffage SA		1,300		129,341
Electricite de France SA		21,822		272,486
Elior Group SA‡		4,370		57,560
Engie SA		21,143		327,685
EssilorLuxottica SA		697		95,181
Faurecia SE		1,719		82,299
Kering SA		133		69,525
L'Oreal SA		599		161,396

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ 500 International ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
France (continued)
LVMH Moet Hennessy Louis Vuitton SE		814	$	340,137
Natixis SA		11,116		45,075
Orange SA		14,291		213,613
Orpea		438		55,253
Pernod Ricard SA		294		52,063
Peugeot SA		10,040		238,774
Publicis Groupe SA		1,613		80,295
Renault SA		2,716		152,833
Rexel SA		6,937		78,125
Safran SA		1,078		155,852
Sanofi		2,693		226,258
Schneider Electric SE		1,526		132,662
Societe Generale SA		3,329		82,303
Sodexo SA		1,363		157,296
SPIE SA		2,895		54,119
Suez		6,691		98,933
Teleperformance		235		49,609
Thales SA		816		92,716
TOTAL SA		10,823		566,787
Valeo SA		2,654		83,921
Veolia Environnement SA		5,707		145,193
Vinci SA		4,093		424,908
Vivendi SA		3,656		102,497
Total France				7,727,147
Germany - 10.6%
adidas AG		450		145,073
Allianz SE		996		233,322
Aurubis AG		1,038		45,720
BASF SE		6,419		432,603
Bayer AG		4,645		303,840
Bayerische Motoren Werke AG		4,285		318,840
Beiersdorf AG(a)		409		47,815
Brenntag AG		1,518		75,025
CECONOMY AG*		17,559		112,883
Continental AG		1,324		184,622
Covestro AG‡		1,587		72,640
Daimler AG		8,224		429,399
Deutsche Bank AG		9,879		77,435
Deutsche Lufthansa AG		8,927		142,878
Deutsche Post AG		9,539		313,417
Deutsche Telekom AG		21,792		361,037
E.ON SE		12,424		125,243
Evonik Industries AG		3,263		94,313
Fresenius Medical Care AG & Co. KGaA		2,090		146,369
Fresenius SE & Co. KGaA		3,704		187,808
Hannover Rueck SE		343		54,115
HeidelbergCement AG		1,366		99,802
Infineon Technologies AG		2,834		53,705
LANXESS AG		949		57,205
MAN SE		537		29,680
Merck KGaA		874		89,954
METRO AG(a)		8,403		130,983
Muenchener Rueckversicherungs-Gesellschaft AG		482		116,884
ProSiebenSat.1 Media SE		3,136		40,957
RWE AG		3,898		106,157
Salzgitter AG		1,824		40,312
SAP SE		1,952		242,807
Siemens AG		3,311		364,923
Siemens Healthineers AG‡		3,657		153,971
Telefonica Deutschland Holding AG		14,845		37,701
thyssenkrupp AG(a)		12,527		163,047
TUI AG		14,592		146,082
Uniper SE(a)		10,576		329,120
		Shares		Value
Common Stocks (continued)
Germany (continued)
United Internet AG		1,477	$	44,516
Total Germany				6,152,203
Hong Kong - 1.3%
AIA Group Ltd.		7,988		82,555
CK Hutchison Holdings Ltd.		13,236		124,533
CLP Holdings Ltd.		4,895		53,309
Dairy Farm International Holdings Ltd.		5,776		43,320
Jardine Matheson Holdings Ltd.		2,333		142,056
Li & Fung Ltd.		354,240		49,779
Nine Dragons Paper Holdings Ltd.		52,906		43,188
Sun Art Retail Group Ltd.		62,301		63,352
WH Group Ltd.‡		90,940		89,570
Yue Yuen Industrial Holdings Ltd.		13,403		37,583
Total Hong Kong				729,245
Ireland - 0.4%
CRH PLC		4,766		159,607
Smurfit Kappa Group PLC		1,891		60,387
Total Ireland				219,994
Israel - 0.1%
Teva Pharmaceutical Industries Ltd.*		6,672		53,385
Italy - 2.8%
Assicurazioni Generali SpA		8,972		168,222
Atlantia SpA		1,824		47,237
Autogrill SpA		5,258		55,850
Enel SpA		68,214		470,811
Eni SpA		16,681		263,805
Intesa Sanpaolo SpA		32,308		70,519
Leonardo SpA		6,559		80,623
Poste Italiane SpA‡		16,114		173,313
Prysmian SpA		2,431		50,534
Saipem SpA*		11,945		59,742
Saras SpA		24,558		40,741
Telecom Italia SpA*		185,993		105,737
UniCredit SpA		4,731		56,130
Total Italy				1,643,264
Japan - 31.2%
Aeon Co., Ltd.		12,205		212,681
AGC, Inc.		1,980		61,091
Aisin Seiki Co., Ltd.		3,396		110,880
Ajinomoto Co., Inc.		3,076		55,443
Alfresa Holdings Corp.		3,862		93,940
Alps Alpine Co., Ltd.		2,255		41,538
ANA Holdings, Inc.		2,576		86,883
Asahi Group Holdings Ltd.		1,886		82,249
Asahi Kasei Corp.		9,121		93,499
Astellas Pharma, Inc.		4,948		70,796
Bridgestone Corp.		2,547		96,180
Canon, Inc.		6,059		165,768
Central Japan Railway Co.		425		85,802
Chubu Electric Power Co., Inc.		7,074		100,271
Chugoku Electric Power Co., Inc. (The)		4,441		55,587
Cosmo Energy Holdings Co., Ltd.		4,140		86,060
Dai Nippon Printing Co., Ltd.		3,483		73,590
Dai-ichi Life Holdings, Inc.		8,127		120,286
Daiichi Sankyo Co., Ltd.		1,107		67,771
Daikin Industries Ltd.		697		87,209
Denso Corp.		4,361		186,289
Dentsu, Inc.		1,630		54,346
East Japan Railway Co.		1,660		152,966
Fast Retailing Co., Ltd.		186		112,294

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ 500 International ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
Japan (continued)
Fuji Media Holdings, Inc.		3,498	$	45,845
FUJIFILM Holdings Corp.		1,398		66,710
Fujitsu Ltd.		2,938		231,170
Hakuhodo DY Holdings, Inc.		5,290		83,705
Hankyu Hanshin Holdings, Inc.		1,194		42,173
Hanwa Co., Ltd.		3,028		83,331
Haseko Corp.		4,354		47,560
Hino Motors Ltd.		7,413		59,877
HIS Co., Ltd.		1,502		36,950
Hitachi High-Technologies Corp.		1,033		52,804
Hitachi Ltd.		8,557		306,736
Honda Motor Co., Ltd.		11,637		290,510
Idemitsu Kosan Co., Ltd.		3,901		108,506
IHI Corp.		2,083		49,996
Isetan Mitsukoshi Holdings Ltd.		4,614		36,886
Isuzu Motors Ltd.		4,442		49,565
ITOCHU Corp.		34,119		654,255
Japan Airlines Co., Ltd.		2,129		67,199
Japan Post Holdings Co., Ltd.		16,992		167,142
Japan Post Insurance Co., Ltd.		3,934		65,872
Japan Tobacco, Inc.		3,818		85,081
JFE Holdings, Inc.		9,164		122,173
JTEKT Corp.		4,123		49,290
JXTG Holdings, Inc.		66,585		315,646
Kajima Corp.		7,068		91,658
Kansai Electric Power Co., Inc. (The)		8,401		104,147
Kao Corp.		800		58,791
Kawasaki Heavy Industries Ltd.		2,130		46,690
Kawasaki Kisen Kaisha Ltd.*(a)		4,359		56,126
KDDI Corp.		12,134		318,898
Kintetsu Group Holdings Co., Ltd.		1,283		61,211
Kirin Holdings Co., Ltd.		3,163		69,043
Kobe Steel Ltd.		10,327		66,960
Komatsu Ltd.		4,033		90,838
Konica Minolta, Inc.		5,534		46,382
Kubota Corp.		4,403		68,635
Kyocera Corp.		1,327		81,765
Kyushu Electric Power Co., Inc.		6,584		65,673
LIXIL Group Corp.		4,183		72,815
Marubeni Corp.		41,371		270,536
Mazda Motor Corp.		7,692		76,442
Medipal Holdings Corp.		5,407		115,734
MEIJI Holdings Co., Ltd.		640		44,622
Mitsubishi Chemical Holdings Corp.		23,829		170,441
Mitsubishi Corp.		25,647		693,644
Mitsubishi Electric Corp.		15,549		205,148
Mitsubishi Heavy Industries Ltd.		2,867		119,037
Mitsubishi Materials Corp.		2,086		57,734
Mitsubishi Motors Corp.		11,738		52,109
Mitsubishi UFJ Financial Group, Inc.		21,777		105,139
Mitsui & Co., Ltd.		20,707		339,284
Mitsui Chemicals, Inc.		2,769		63,962
Mitsui OSK Lines Ltd.		2,718		67,265
Mizuho Financial Group, Inc.		45,348		64,487
MS&AD Insurance Group Holdings, Inc.		2,812		92,745
Murata Manufacturing Co., Ltd.		1,670		74,490
NEC Corp.		3,828		157,950
NH Foods Ltd.		1,430		53,407
Nidec Corp.		420		56,922
Nippon Express Co., Ltd.		1,644		93,272
Nippon Paper Industries Co., Ltd.		2,430		43,083
Nippon Steel Corp.		12,483		197,348
Nippon Telegraph & Telephone Corp.		15,354		696,039
Nippon Yusen K.K.		5,420		91,003
Nissan Motor Co., Ltd.		32,434		212,333
Nitto Denko Corp.		861		42,743
Nomura Research Institute Ltd.		2,919		52,129
		Shares		Value
Common Stocks (continued)
Japan (continued)
NTT Data Corp.		11,466	$	151,542
NTT DOCOMO, Inc.		12,012		289,306
Obayashi Corp.		10,720		102,288
Oji Holdings Corp.		11,023		57,463
Olympus Corp.		4,310		47,357
Omron Corp.		1,016		49,034
Oriental Land Co., Ltd.		422		56,124
ORIX Corp.		3,463		49,804
Osaka Gas Co., Ltd.		2,915		53,803
Otsuka Corp.		1,559		62,101
Otsuka Holdings Co., Ltd.		1,714		63,414
PALTAC Corp.		906		44,726
Panasonic Corp.		21,845		186,047
Persol Holdings Co., Ltd.		3,758		91,964
Rakuten, Inc.		7,881		81,006
Recruit Holdings Co., Ltd.		4,993		170,978
Renesas Electronics Corp.*		9,641		57,628
Ricoh Co., Ltd.		8,772		80,954
Secom Co., Ltd.		799		62,927
Seibu Holdings, Inc.		2,627		41,592
Seiko Epson Corp.		3,644		54,035
Sekisui House Ltd.		2,766		46,760
Seven & i Holdings Co., Ltd.		7,267		249,518
SG Holdings Co., Ltd.		1,929		51,292
Sharp Corp.		5,475		69,537
Shimizu Corp.		10,370		84,144
Shin-Etsu Chemical Co., Ltd.		944		96,987
Ship Healthcare Holdings, Inc.		1,250		56,643
Shiseido Co., Ltd.		664		49,206
Showa Denko K.K.		1,444		39,207
SoftBank Group Corp.		7,635		395,761
Sojitz Corp.		23,547		74,171
Sompo Holdings, Inc.		1,675		69,916
Sony Corp.		5,105		290,102
Subaru Corp.		3,774		88,445
Sumitomo Chemical Co., Ltd.		19,571		90,127
Sumitomo Corp.		17,161		256,605
Sumitomo Electric Industries Ltd.		7,200		89,789
Sumitomo Metal Mining Co., Ltd.		1,544		44,297
Sumitomo Mitsui Financial Group, Inc.		3,032		106,312
Suntory Beverage & Food Ltd.		1,168		46,634
Suzuken Co., Ltd.		1,454		80,752
Suzuki Motor Corp.		2,286		89,882
T&D Holdings, Inc.		2,885		32,577
Taiheiyo Cement Corp.		1,310		37,101
Taisei Corp.		1,960		68,056
Takeda Pharmaceutical Co., Ltd.		2,124		71,110
TDK Corp.		889		69,351
Teijin Ltd.		2,696		46,955
Toho Holdings Co., Ltd.		2,212		49,486
Tohoku Electric Power Co., Inc.		6,800		68,329
Tokio Marine Holdings, Inc.		1,864		99,522
Tokyo Electric Power Co., Holdings, Inc.*		35,042		169,441
Tokyo Electron Ltd.		493		84,887
Tokyo Gas Co., Ltd.		2,752		68,981
Tokyu Corp.		3,316		58,395
Toppan Printing Co., Ltd.		5,652		92,556
Toray Industries, Inc.		15,677		108,710
Toshiba Corp.		2,808		90,130
Tosoh Corp.		2,967		41,892
Toyota Boshoku Corp.		3,158		44,530
Toyota Industries Corp.		1,396		72,902
Toyota Motor Corp.		10,975		710,001
Toyota Tsusho Corp.		9,061		264,549
West Japan Railway Co.		1,019		83,885
Yahoo Japan Corp.		28,886		85,401
Yamada Denki Co., Ltd.		11,813		52,333

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ 500 International ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
Japan (continued)
Yamaha Motor Co., Ltd.		2,476	$	43,739
Yamato Holdings Co., Ltd.		2,897		57,193
Yamazaki Baking Co., Ltd.		2,784		42,616
Zensho Holdings Co., Ltd.		2,041		44,119
Total Japan				18,160,008
Luxembourg - 0.6%
ArcelorMittal		18,736		302,855
RTL Group SA		1,151		57,105
Total Luxembourg				359,960
Netherlands - 3.9%
Aegon NV		12,555		62,583
Akzo Nobel NV		624		59,367
Altice Europe NV*		42,462		159,324
ASML Holding NV		406		91,674
EXOR NV		3,748		262,734
Heineken Holding NV		1,206		123,131
Heineken NV		1,125		121,650
ING Groep NV		4,207		47,178
Koninklijke Ahold Delhaize NV		10,223		232,825
Koninklijke DSM NV		555		69,703
Koninklijke Philips NV		2,808		132,826
NN Group NV		1,210		45,846
Randstad NV		3,224		163,470
Royal Dutch Shell PLC, Class B		20,330		647,842
Wolters Kluwer NV		684		49,928
Total Netherlands				2,270,081
Norway - 0.8%
Equinor ASA		13,431		243,009
Norsk Hydro ASA		21,428		74,197
Telenor ASA		3,730		76,491
Yara International ASA		1,544		73,241
Total Norway				466,938
Portugal - 0.4%
EDP - Energias de Portugal SA		20,658		76,385
Galp Energia SGPS SA		4,275		67,041
Jeronimo Martins SGPS SA(a)		5,431		88,315
Total Portugal				231,741
Singapore - 0.9%
Jardine Cycle & Carriage Ltd.		3,371		83,281
Oversea-Chinese Banking Corp. Ltd.		5,927		49,978
Sembcorp Industries Ltd.		23,157		39,595
Singapore Airlines Ltd.		9,160		64,723
Singapore Telecommunications Ltd.		30,535		74,299
Wilmar International Ltd.		73,760		215,047
Total Singapore				526,923
Spain - 2.9%
Acciona SA		511		54,790
ACS Actividades de Construccion y Servicios SA		5,364		218,585
Amadeus IT Group SA		686		54,504
Banco Bilbao Vizcaya Argentaria SA		11,266		57,694
Banco Santander SA		41,995		180,623
Cia de Distribucion Integral Logista Holdings SA		2,444		51,375
Endesa SA		3,920		97,547
Iberdrola SA		21,975		209,682
Industria de Diseno Textil SA		4,749		142,922
Mapfre SA(a)		19,280		53,516
		Shares		Value
Common Stocks (continued)
Spain (continued)
Naturgy Energy Group SA		3,392	$	86,486
Repsol SA		12,335		197,561
Siemens Gamesa Renewable Energy SA		2,673		37,722
Telefonica SA		33,475		257,953
Total Spain				1,700,960
Sweden - 1.7%
Assa Abloy AB, B Shares		1,980		46,006
Atlas Copco AB, A Shares		1,731		53,591
Electrolux AB		1,752		40,946
Essity AB, B Shares		2,170		65,146
Hennes & Mauritz AB, B Shares		6,146		108,055
ICA Gruppen AB(a)		1,344		60,131
NCC AB, B Shares		2,887		46,466
Sandvik AB		2,930		45,554
Securitas AB, B Shares		4,880		76,304
Skanska AB, B Shares		5,869		110,581
SSAB AB, A Shares(a)		12,470		35,734
Telefonaktiebolaget LM Ericsson, B Shares		12,573		111,534
Telia Co. AB		11,683		52,550
Volvo AB, B Shares		10,576		159,029
Total Sweden				1,011,627
Switzerland - 5.5%
ABB Ltd.		6,259		118,889
Adecco Group AG		3,076		169,211
Cie Financiere Richemont SA		682		58,831
Credit Suisse Group AG*		5,621		68,304
Glencore PLC*		117,672		383,910
Kuehne + Nagel International AG		757		112,212
LafargeHolcim Ltd.*		2,255		111,497
Nestle SA		6,675		712,674
Novartis AG		4,123		380,899
Roche Holding AG		2,044		550,538
Schindler Holding AG - Participating Certificate		225		52,318
Sika AG		317		46,109
STMicroelectronics NV		3,817		71,036
Swiss Life Holding AG		98		47,664
Swiss Re AG		776		75,687
Swisscom AG		133		64,821
UBS Group AG*		7,556		84,681
Zurich Insurance Group AG		277		96,950
Total Switzerland				3,206,231
United Kingdom - 9.7%
Amcor PLC		4,747		50,812
Associated British Foods PLC		2,808		83,206
AstraZeneca PLC		1,738		150,265
Aviva PLC		9,661		48,039
Babcock International Group PLC		7,900		46,083
BAE Systems PLC		18,631		125,151
Balfour Beatty PLC		15,982		40,312
Barclays PLC		29,755		56,137
BP PLC		67,702		452,373
British American Tobacco PLC		4,013		145,053
BT Group PLC		58,411		138,165
Bunzl PLC		1,939		51,045
Capita PLC*		27,301		38,961
Centrica PLC		105,149		97,953
Compass Group PLC		8,143		207,690
Computacenter PLC		3,496		65,280
DCC PLC		801		68,282
Diageo PLC		1,960		82,641
Dixons Carphone PLC		29,706		43,485
DS Smith PLC		10,347		45,192

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ 500 International ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
United Kingdom (continued)
easyJet PLC		3,200	$	37,772
Experian PLC		1,630		49,896
Fiat Chrysler Automobiles NV		20,713		277,572
G4S PLC		29,573		69,362
GlaxoSmithKline PLC		13,007		271,163
Hays PLC		29,884		56,387
HSBC Holdings PLC		16,113		129,564
Imperial Brands PLC		2,911		74,674
Inchcape PLC		7,093		54,238
InterContinental Hotels Group PLC		713		49,929
International Consolidated Airlines Group SA		18,060		93,850
ITV PLC		26,045		35,383
J Sainsbury PLC		44,749		107,750
John Wood Group PLC		9,382		61,000
Johnson Matthey PLC		2,175		85,621
Kingfisher PLC		21,185		57,691
Legal & General Group PLC		11,990		38,435
Lloyds Banking Group PLC		94,089		61,440
Marks & Spencer Group PLC(a)		20,047		51,032
Mondi PLC		2,327		51,387
National Grid PLC		8,682		89,755
Pearson PLC(a)		4,397		46,905
Petrofac Ltd.		6,774		34,812
Prudential PLC		4,577		95,161
Reckitt Benckiser Group PLC		976		76,149
RELX PLC		3,625		86,709
Rolls-Royce Holdings PLC*		8,987		94,856
Royal Bank of Scotland Group PLC		14,829		39,402
Royal Mail PLC		22,783		58,499
SSE PLC		8,117		109,377
Standard Chartered PLC		6,776		56,153
Tesco PLC		88,528		242,053
Travis Perkins PLC		2,766		46,264
Unilever NV		5,899		343,701
Vodafone Group PLC		122,240		224,635
Wm Morrison Supermarkets PLC(a)		29,968		71,426
WPP PLC		13,447		159,778
Total United Kingdom				5,625,906
United States - 0.2%
Ferguson PLC		1,778		134,195
Total Common Stocks
(Cost $59,061,620)				57,172,248
Preferred Stocks - 1.3%
Germany - 1.3%
Henkel AG & Co. KGaA, 2.00%		1,059		109,939
Schaeffler AG, 8.20%		7,853		59,211
Volkswagen AG, 3.21%		3,304		555,259
Total Germany				724,409
Total Preferred Stocks
(Cost $736,153)				724,409
Short-Term Investment — 0.1%
Money Market Fund — 0.1%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 2.34%(b)
(Cost $84,880)		84,880		84,880
		Shares		Value
Investment of Cash Collateral For Securities Loaned — 1.9%
Money Market Fund — 1.9%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.26%(b)
(Cost $1,077,419)		1,077,419	$	1,077,419
Total Investments — 101.5%
(Cost $60,960,072)				59,058,956
Other Assets and Liabilities, Net — (1.5)%				(844,796	)
Net Assets — 100.0%			$	58,214,160

				% of
Industry	Value			Net Assets
Industrials	$	12,808,723			22.0	%
Consumer Discretionary		8,395,864			14.5
Consumer Staples		6,716,377			11.5
Financials		5,506,844			9.5
Materials		5,308,477			9.1
Communication Services		4,627,327			8.0
Energy		4,214,714			7.2
Health Care		3,729,325			6.4
Utilities		3,541,569			6.1
Information Technology		3,047,437			5.2
Money Market Fund		1,162,299			2.0
Total Investments	$	59,058,956			101.5%
Other Assets and Liabilities, Net		(844,796	)		(1.5	)
Total Net Assets	$	58,214,160			100.0%

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ 500 International ETF (continued)

July 31, 2019 (unaudited)

‡	May be sold to institutional investors only under Rule 144A or securities offered pursuant to section 4 (a) (2) of the Securities Act of 1933, as amended.
*	Non-income producing securities.
(a)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $1,013,011; total market value of collateral held by the Fund was $1,077,419.
(b)	Reflects the 1-day yield at July 31, 2019.

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Investments in Securities:(c)
Common Stocks
Australia	$	1,949,882	$	–	$	–	$	1,949,882
Austria		153,435		–		–		153,435
Belgium		532,181		–		–		532,181
Canada		3,425,992		–		–		3,425,992
Denmark		419,235		–		–		419,235
Finland		471,715		–		–		471,715
France		7,727,147		–		–		7,727,147
Germany		6,152,203		–		–		6,152,203
Hong Kong		729,245		–		–		729,245
Ireland		219,994		–		–		219,994
Israel		53,385		–		–		53,385
Italy		1,643,264		–		–		1,643,264
Japan		18,160,008		–		–		18,160,008
Luxembourg		359,960		–		–		359,960
Netherlands		2,270,081		–		–		2,270,081
Norway		466,938		–		–		466,938
Portugal		231,741		–		–		231,741
Singapore		526,923		–		–		526,923
Spain		1,700,960		–		–		1,700,960
Sweden		1,011,627		–		–		1,011,627
Switzerland		3,206,231		–		–		3,206,231
United Kingdom		5,625,906		–		–		5,625,906
United States		134,195		–		–		134,195
Total Common Stocks		57,172,248		–		–		57,172,248
Preferred Stocks
Germany		724,409		–		–		724,409
Total Preferred Stocks		724,409		–		–		724,409
Short-Term Investment:
Money Market Fund		84,880		–		–		84,880
Investment of Cash Collateral for Securities Loaned:
Money Market Fund		1,077,419		–		–		1,077,419
Total Investments in Securities	$	59,058,956	$	–	$	–	$	59,058,956

(c) For a complete listing of investments and their countries, see the Schedules of Investments.

For the period ended July 31, 2019, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ 500 International ETF (continued)

July 31, 2019 (unaudited)

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:
Investments in Securities	Balance as of April 30, 2019	Accrued Discounts (Premiums)	Realized Gain (Loss)	Change in Unrealized Appreciation (Depreciation)	Purchases	Sales	Transfers into Level 3	Transfers out of Level 3	Balance as of July 31, 2019	Change in Unrealized Appreciation (Depreciation) from Investments Still Held at July 31, 2019
Common Stock
Rolls-Royce Holdings PLC — Entitlement	$1,326	$–	$(41)	$(13)	$–	$(1,272)	$–	$–	$–	$–

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ 50 Percent Hedged FTSE International ETF

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks - 99.2%
Australia - 7.8%
AGL Energy Ltd.		13,520	$	195,412
Alumina Ltd.		61,617		99,379
AMP Ltd.		63,499		78,342
APA Group		25,148		191,359
Aristocrat Leisure Ltd.		13,838		292,335
ASX Ltd.		5,772		353,477
Aurizon Holdings Ltd.		44,097		175,069
Australia & New Zealand Banking Group Ltd.		50,762		976,507
Bendigo & Adelaide Bank Ltd.		14,292		113,185
BHP Group Ltd.		53,806		1,511,617
BHP Group PLC		36,862		895,582
BlueScope Steel Ltd.		10,407		93,895
Boral Ltd.		30,999		110,249
Brambles Ltd.		31,367		283,651
Caltex Australia Ltd.		5,928		110,155
Coca-Cola Amatil Ltd.		16,981		124,298
Coles Group Ltd.*		20,436		200,014
Commonwealth Bank of Australia		32,022		1,816,457
Computershare Ltd.		13,405		146,352
CSL Ltd.		8,194		1,296,829
Dexus		28,019		253,375
Fortescue Metals Group Ltd.		30,262		173,748
Goodman Group		38,028		388,182
GPT Group (The)		48,606		208,046
Incitec Pivot Ltd.		42,071		100,911
Insurance Australia Group Ltd.		50,523		300,522
Lendlease Group		11,402		114,346
Macquarie Group Ltd.		6,029		535,186
Medibank Pvt Ltd.		66,322		165,022
Mirvac Group		100,049		222,047
National Australia Bank Ltd.		49,371		970,166
Newcrest Mining Ltd.		14,298		350,637
Northern Star Resources Ltd.		12,350		110,744
Oil Search Ltd.		29,126		142,734
Orica Ltd.		9,363		140,814
Origin Energy Ltd.		36,435		199,396
QBE Insurance Group Ltd.		26,227		225,781
Ramsay Health Care Ltd.		2,955		148,234
Rio Tinto Ltd.		6,672		454,809
Rio Tinto PLC		19,859		1,142,383
Santos Ltd.		37,264		185,697
Scentre Group		98,203		270,069
SEEK Ltd.		10,056		144,929
Sonic Healthcare Ltd.		11,236		217,153
South32 Ltd.		96,514		208,880
Stockland		55,509		174,846
Suncorp Group Ltd.		27,281		254,034
Sydney Airport		28,037		161,553
Telstra Corp. Ltd.		74,254		203,183
Transurban Group		51,754		554,691
Treasury Wine Estates Ltd.		16,127		196,745
Vicinity Centres		66,576		119,767
Wesfarmers Ltd.		20,565		555,496
Westpac Banking Corp.		61,136		1,207,254
Woodside Petroleum Ltd.		18,965		453,586
Woolworths Group Ltd.		24,354		597,917
Total Australia				20,917,047
Austria - 0.2%
ANDRITZ AG		2,223		80,094
Erste Group Bank AG*		6,626		239,322
OMV AG		3,755		189,433
	Shares		Value
Common Stocks (continued)
Austria (continued)
Verbund AG		1,332	$	75,042
Total Austria				583,891
Belgium - 1.1%
Ageas		4,485		243,038
Anheuser-Busch InBev SA/NV		13,688		1,387,926
Galapagos NV*		1,031		181,256
Groupe Bruxelles Lambert SA		1,954		185,969
KBC Group NV		5,228		339,239
Solvay SA		1,618		167,286
UCB SA		2,629		206,714
Umicore SA		4,534		143,570
Total Belgium				2,854,998
China - 0.3%
AAC Technologies Holdings, Inc.		14,526		79,330
BOC Hong Kong Holdings Ltd.		74,061		284,781
China Mengniu Dairy Co., Ltd.*		55,836		226,828
Lenovo Group Ltd.		144,371		117,298
Want Want China Holdings Ltd.		140,053		109,675
Total China				817,912
Denmark - 1.6%
Ambu A/S, Class B(a)		3,138		46,219
AP Moller - Maersk A/S, Class A		85		91,570
AP Moller - Maersk A/S, Class B		121		136,901
Carlsberg A/S, Class B		2,084		286,375
Chr Hansen Holding A/S		2,236		196,840
Coloplast A/S, Class B		2,679		314,850
Danske Bank A/S		12,191		182,229
Drilling Co. of 1972 A/S (The)*		410		27,913
DSV A/S		3,533		339,780
Genmab A/S*		1,124		209,829
GN Store Nord A/S		2,389		114,380
ISS A/S		4,036		113,949
Novo Nordisk A/S, Class B		29,565		1,428,293
Novozymes A/S, Class B		4,247		198,398
Orsted A/S‡		2,218		203,787
Pandora A/S		1,974		76,468
Vestas Wind Systems A/S		3,768		311,703
Total Denmark				4,279,484
Finland - 1.0%
Elisa OYJ		3,010		142,365
Fortum OYJ		8,471		196,178
Kone OYJ, Class B		7,149		410,720
Neste OYJ		7,628		254,705
Nokia OYJ(a)		104,297		566,628
Nokian Renkaat OYJ		3,090		89,347
Sampo OYJ, Class A		9,003		377,602
Stora Enso OYJ, Class R		12,894		149,807
UPM-Kymmene OYJ		10,670		290,465
Wartsila OYJ Abp		10,230		129,676
Total Finland				2,607,493
France - 9.9%
Accor SA		4,618		207,210
Adevinta ASA, Class A*		3,531		39,964
Aeroports de Paris		528		91,532
Air Liquide SA		7,898		1,099,204
Airbus SE		10,069		1,435,658
Alstom SA		3,698		160,741

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE International ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
France (continued)
Arkema SA		1,811	$	164,737
Atos SE		1,968		160,087
AXA SA		34,185		871,610
BNP Paribas SA		19,915		935,272
Bouygues SA		4,308		155,312
Bureau Veritas SA		6,797		170,956
Capgemini SE		2,864		367,507
Carrefour SA		10,963		212,449
Cie de Saint-Gobain(a)		9,596		371,329
Cie Generale des Etablissements Michelin		3,429		383,503
Credit Agricole SA		20,885		250,671
Danone SA		10,185		889,054
Dassault Systemes SE		2,594		398,566
Edenred		5,304		268,345
Electricite de France SA		7,514		93,826
Engie SA		30,293		469,497
EssilorLuxottica SA		5,505		751,754
Eutelsat Communications SA		4,661		89,883
Getlink SE		10,574		153,639
Hermes International		610		432,362
Ingenico Group SA		1,355		129,744
Ipsen SA		845		97,563
Kering SA		1,369		715,633
Klepierre SA		4,218		130,746
Legrand SA		5,617		399,378
L'Oreal SA		4,355		1,173,423
LVMH Moet Hennessy Louis Vuitton SE		4,508		1,883,708
Orange SA		33,966		507,703
Orpea		1,114		140,529
Pernod Ricard SA		3,748		663,719
Peugeot SA		10,039		238,750
Publicis Groupe SA		4,123		205,243
Renault SA		3,527		198,469
Rexel SA		7,952		89,556
Rubis SCA		2,227		126,209
Safran SA		6,213		898,244
Sanofi		19,620		1,648,416
Schneider Electric SE		9,963		866,126
SCOR SE		3,506		145,213
SEB SA		521		84,112
Societe Generale SA		13,512		334,058
Sodexo SA		1,505		173,683
Teleperformance		1,239		261,554
Thales SA		2,132		242,243
TOTAL SA		43,638		2,285,268
Ubisoft Entertainment SA*		1,621		134,928
Unibail-Rodamco-Westfield		2,569		346,099
Valeo SA		4,784		151,273
Veolia Environnement SA		9,551		242,989
Vinci SA		8,722		905,460
Vivendi SA		18,468		517,758
Worldline SA‡*		1		72
Total France				26,562,537
Germany - 7.5%
adidas AG		3,672		1,183,797
Allianz SE		7,638		1,789,273
BASF SE		16,971		1,143,745
Bayer AG		17,070		1,116,587
Bayerische Motoren Werke AG		6,275		466,913
Beiersdorf AG(a)		2,213		258,715
Brenntag AG		3,453		170,661
Commerzbank AG		20,822		142,878
	Shares		Value
Common Stocks (continued)
Germany (continued)
Continental AG		1,980	$	276,096
Covestro AG‡		3,279		150,086
Daimler AG		15,463		807,368
Delivery Hero SE‡*		2,404		116,647
Deutsche Bank AG		38,680		303,187
Deutsche Boerse AG		3,483		489,788
Deutsche Lufthansa AG		4,539		72,647
Deutsche Post AG		17,423		572,458
Deutsche Telekom AG		57,154		946,893
Deutsche Wohnen SE		7,464		276,072
E.ON SE		40,052		403,753
Fresenius Medical Care AG & Co. KGaA		4,013		281,042
Fresenius SE & Co. KGaA		7,925		401,831
GEA Group AG		3,817		96,259
Hannover Rueck SE		1,268		200,051
HeidelbergCement AG		2,942		214,946
Henkel AG & Co. KGaA(a)		1,652		156,436
HUGO BOSS AG		1,611		102,527
Infineon Technologies AG		24,620		466,551
K+S AG(a)		4,329		70,997
KION Group AG		1,455		78,748
LANXESS AG		2,291		138,100
LEG Immobilien AG		1,147		133,709
Merck KGaA		2,453		252,469
MTU Aero Engines AG		1,218		307,161
Muenchener Rueckversicherungs-Gesellschaft AG		2,399		581,754
OSRAM Licht AG(a)		2,237		85,679
ProSiebenSat.1 Media SE		4,871		63,616
Rheinmetall AG		835		96,130
RWE AG		12,137		330,536
SAP SE		17,434		2,168,598
Scout24 AG‡*		2,166		121,184
Siemens AG		13,697		1,509,621
Symrise AG		2,897		269,783
thyssenkrupp AG(a)		9,359		121,813
TUI AG		8,547		85,565
United Internet AG		2,620		78,966
Vonovia SE		8,841		435,676
Wirecard AG		2,195		370,497
Zalando SE‡*		3,034		140,797
Total Germany				20,048,606
Hong Kong - 3.3%
AIA Group Ltd.		222,036		2,294,704
ASM Pacific Technology Ltd.		7,479		88,138
Bank of East Asia Ltd. (The)		37,007		107,316
CK Asset Holdings Ltd.		52,387		397,191
CK Hutchison Holdings Ltd.		53,228		500,804
CK Infrastructure Holdings Ltd.		16,184		125,806
CLP Holdings Ltd.		31,507		343,128
Hang Lung Properties Ltd.		49,221		116,452
Hang Seng Bank Ltd.		14,728		351,648
Henderson Land Development Co., Ltd.		30,352		158,005
Hong Kong & China Gas Co., Ltd.		197,077		436,556
Hong Kong Exchanges and Clearing Ltd.		23,757		806,073
Hongkong Land Holdings Ltd.		26,237		160,570
Hysan Development Co., Ltd.		23,985		114,748
Jardine Matheson Holdings Ltd.		4,138		251,963
Jardine Strategic Holdings Ltd.		3,935		135,757
Link REIT		41,085		479,716
MTR Corp. Ltd.		31,265		205,893
New World Development Co., Ltd.		132,453		187,819

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE International ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
Hong Kong (continued)
Power Assets Holdings Ltd.		29,956	$	214,876
Sino Land Co., Ltd.		77,725		126,697
Sun Hung Kai Properties Ltd.		27,297		442,518
Swire Pacific Ltd., Class A		13,147		150,652
Techtronic Industries Co., Ltd.		28,401		213,518
WH Group Ltd.‡		165,412		162,921
Wharf Real Estate Investment Co., Ltd.		25,158		159,730
Wheelock & Co., Ltd.		19,950		126,409
Total Hong Kong				8,859,608
Ireland - 0.6%
Bank of Ireland Group PLC		19,231		85,647
CRH PLC		14,405		482,405
Flutter Entertainment PLC		1,521		121,800
Glanbia PLC		3,015		39,611
James Hardie Industries PLC		9,836		134,844
Kerry Group PLC, Class A		2,763		324,245
Kingspan Group PLC		3,003		148,119
Smurfit Kappa Group PLC		4,536		144,851
Total Ireland				1,481,522
Israel - 0.5%
Bank Hapoalim BM*		37,307		284,745
Bank Leumi Le-Israel BM		44,851		329,241
Bezeq The Israeli Telecommunication Corp. Ltd.		88,225		60,551
Israel Discount Bank Ltd., Class A		37,383		163,134
Nice Ltd.*		1,962		302,360
Teva Pharmaceutical Industries Ltd.*		18,179		145,457
Total Israel				1,285,488
Italy - 2.0%
Assicurazioni Generali SpA		24,027		450,498
Atlantia SpA		11,461		296,813
Enel SpA		145,207		1,002,214
Eni SpA		48,172		761,827
FinecoBank Banca Fineco SpA		13,592		136,079
Intesa Sanpaolo SpA		274,990		600,223
Leonardo SpA		9,891		121,579
Mediobanca Banca di Credito Finanziario SpA		18,534		186,836
Moncler SpA		3,837		158,795
Prysmian SpA		7,538		156,694
Recordati SpA		2,912		131,407
Snam SpA		48,499		239,701
Telecom Italia SpA*		312,929		177,901
Terna Rete Elettrica Nazionale SpA		36,379		222,936
UniCredit SpA		41,839		496,394
Unione di Banche Italiane SpA		27,028		69,966
Total Italy				5,209,863
Japan - 24.0%
Advantest Corp.		4,263		167,654
Aeon Co., Ltd.(a)		14,756		257,134
AGC, Inc.		4,873		150,353
Air Water, Inc.		6,130		100,892
Aisin Seiki Co., Ltd.		3,816		124,593
Ajinomoto Co., Inc.		11,198		201,837
Alfresa Holdings Corp.		5,313		129,234
Alps Alpine Co., Ltd.		4,811		88,621
Amada Holdings Co., Ltd.		11,730		130,507
Aozora Bank Ltd.		4,684		107,765
	Shares		Value
Common Stocks (continued)
Japan (continued)
Asahi Group Holdings Ltd.		8,193	$	357,300
Asahi Kasei Corp.		26,902		275,772
Astellas Pharma, Inc.		37,358		534,521
Bandai Namco Holdings, Inc.(a)		4,409		239,586
Bank of Kyoto Ltd. (The)		1,903		74,227
Bridgestone Corp.		11,852		447,554
Brother Industries Ltd.		6,687		119,790
Canon, Inc.		20,134		550,845
Central Japan Railway Co.		3,481		702,772
Chiba Bank Ltd. (The)		16,839		83,749
Chubu Electric Power Co., Inc.		13,838		196,147
Chugai Pharmaceutical Co., Ltd.		4,643		333,552
Concordia Financial Group Ltd.		27,493		97,488
Dai Nippon Printing Co., Ltd.		7,773		164,230
Daifuku Co., Ltd.		2,151		119,065
Dai-ichi Life Holdings, Inc.		21,460		317,626
Daiichi Sankyo Co., Ltd.		12,248		749,827
Daikin Industries Ltd.		5,223		653,506
Daito Trust Construction Co., Ltd.		1,556		201,710
Daiwa House Industry Co., Ltd.		12,824		367,446
Daiwa Securities Group, Inc.		35,720		155,118
Denso Corp.		8,465		361,600
Dentsu, Inc.		4,611		153,735
East Japan Railway Co.		6,959		641,260
Eisai Co., Ltd.		5,192		282,422
Electric Power Development Co., Ltd.		3,980		89,699
FamilyMart UNY Holdings Co., Ltd.(a)		4,480		96,140
FANUC Corp.		3,758		675,973
Fast Retailing Co., Ltd.		991		598,297
FUJIFILM Holdings Corp.		7,753		369,959
Fujitsu Ltd.		3,983		313,394
Fukuoka Financial Group, Inc.		4,902		90,387
Hamamatsu Photonics K.K.		3,518		131,712
Hankyu Hanshin Holdings, Inc.		5,403		190,840
Hino Motors Ltd.		8,737		70,572
Hirose Electric Co., Ltd.		951		100,465
Hisamitsu Pharmaceutical Co., Inc.		1,768		71,730
Hitachi Ltd.		17,885		641,109
Honda Motor Co., Ltd.		32,765		817,956
Hoya Corp.		7,251		561,314
Idemitsu Kosan Co., Ltd.		4,723		131,370
IHI Corp.		3,640		87,367
Inpex Corp.		20,159		178,483
Isetan Mitsukoshi Holdings Ltd.		8,496		67,921
Isuzu Motors Ltd.		13,400		149,520
ITOCHU Corp.		28,004		536,996
Japan Exchange Group, Inc.		11,476		169,432
Japan Tobacco, Inc.		22,750		506,964
JFE Holdings, Inc.		10,936		145,797
JGC Corp.		6,290		82,554
JXTG Holdings, Inc.		63,565		301,330
Kajima Corp.		9,606		124,571
Kansai Electric Power Co., Inc. (The)		14,676		181,938
Kansai Paint Co., Ltd.		5,686		112,908
Kao Corp.		9,022		663,012
KDDI Corp.		33,128		870,649
Keikyu Corp.		6,936		117,288
Keio Corp.		3,152		196,247
Keisei Electric Railway Co., Ltd.		4,035		149,210
Keyence Corp.		1,681		977,403
Kikkoman Corp.		4,175		191,302
Kintetsu Group Holdings Co., Ltd.		4,081		194,700
Kirin Holdings Co., Ltd.		16,137		352,242
Kobayashi Pharmaceutical Co., Ltd.		1,279		91,883

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE International ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
Japan (continued)
Koito Manufacturing Co., Ltd.		2,821	$	142,641
Komatsu Ltd.		18,271		411,529
Konami Holdings Corp.		2,063		88,163
Konica Minolta, Inc.		11,742		98,413
Kose Corp.		597		102,327
Kubota Corp.		23,071		359,638
Kuraray Co., Ltd.		10,393		124,056
Kurita Water Industries Ltd.		4,610		117,527
Kyocera Corp.		6,477		399,089
Kyowa Hakko Kirin Co., Ltd.		6,756		112,190
Kyushu Electric Power Co., Inc.		9,889		98,640
Lion Corp.		5,664		112,002
LIXIL Group Corp.		6,464		112,521
M3, Inc.		9,929		202,649
Makita Corp.		6,066		200,850
Marubeni Corp.		36,288		237,297
Marui Group Co., Ltd.		6,200		134,878
Matsumotokiyoshi Holdings Co., Ltd.		1,970		66,408
Mazda Motor Corp.		11,728		116,551
MEIJI Holdings Co., Ltd.		2,927		204,075
MINEBEA MITSUMI, Inc.		8,565		148,384
MISUMI Group, Inc.		7,042		160,460
Mitsubishi Chemical Holdings Corp.		28,094		200,947
Mitsubishi Corp.		25,157		680,392
Mitsubishi Electric Corp.		38,903		513,272
Mitsubishi Estate Co., Ltd.		23,808		441,185
Mitsubishi Heavy Industries Ltd.		6,338		263,152
Mitsubishi Materials Corp.		3,121		86,379
Mitsubishi Motors Corp.		15,386		68,303
Mitsubishi UFJ Financial Group, Inc.		237,765		1,147,929
Mitsui & Co., Ltd.		34,022		557,450
Mitsui Chemicals, Inc.		4,024		92,951
Mitsui Fudosan Co., Ltd.		18,109		412,216
Mizuho Financial Group, Inc.		451,548		642,128
MonotaRO Co., Ltd.		2,810		62,010
MS&AD Insurance Group Holdings, Inc.		10,357		341,593
Murata Manufacturing Co., Ltd.		10,750		479,505
Nabtesco Corp.		3,508		95,668
NEC Corp.		5,592		230,736
Nexon Co., Ltd.*		7,853		125,272
NGK Spark Plug Co., Ltd.		5,398		103,709
NH Foods Ltd.		3,028		113,088
Nichirei Corp.		2,720		63,431
Nidec Corp.		4,542		615,570
Nihon M&A Center, Inc.		3,103		84,366
Nikon Corp.		9,616		130,900
Nintendo Co., Ltd.		1,995		736,813
Nippon Express Co., Ltd.		1,966		111,541
Nippon Paint Holdings Co., Ltd.(a)		3,750		164,230
Nippon Shinyaku Co., Ltd.		1,522		110,602
Nippon Steel Corp.		15,941		252,017
Nippon Telegraph & Telephone Corp.		12,331		558,998
Nissan Chemical Corp.		3,702		163,151
Nissan Motor Co., Ltd.		34,230		224,091
Nisshin Seifun Group, Inc.		8,189		155,747
Nissin Foods Holdings Co., Ltd.		2,302		143,961
Nitori Holdings Co., Ltd.		1,686		228,734
Nitto Denko Corp.		3,511		174,297
Nomura Holdings, Inc.		67,908		214,904
Nomura Research Institute Ltd.		8,726		155,834
NSK Ltd.		11,113		94,881
NTT Data Corp.		15,069		199,162
NTT DOCOMO, Inc.		23,247		559,898
Obayashi Corp.		16,997		162,182
	Shares		Value
Common Stocks (continued)
Japan (continued)
Obic Co., Ltd.		1,707	$	183,474
Odakyu Electric Railway Co., Ltd.		7,512		168,678
Oji Holdings Corp.		24,443		127,421
Olympus Corp.		22,928		251,928
Omron Corp.		4,451		214,812
Ono Pharmaceutical Co., Ltd.		9,675		176,703
Oriental Land Co., Ltd.		3,936		523,471
ORIX Corp.		25,775		370,690
Osaka Gas Co., Ltd.		8,194		151,239
Otsuka Corp.		2,155		85,843
Otsuka Holdings Co., Ltd.		8,724		322,766
Pan Pacific International Holdings Corp.		2,807		179,938
Panasonic Corp.		40,999		349,176
PeptiDream, Inc.*		2,172		122,228
Pigeon Corp.(a)		2,435		90,156
Pola Orbis Holdings, Inc.		1,838		46,435
Rakuten, Inc.		15,967		164,119
Recruit Holdings Co., Ltd.		22,568		772,810
Resona Holdings, Inc.		48,609		198,958
Ricoh Co., Ltd.		16,419		151,525
Rohm Co., Ltd.		2,127		150,256
Ryohin Keikaku Co., Ltd.		603		107,910
Santen Pharmaceutical Co., Ltd.		9,882		160,278
SBI Holdings, Inc.		5,837		134,078
Secom Co., Ltd.		4,242		334,086
Seiko Epson Corp.		6,923		102,657
Sekisui Chemical Co., Ltd.		10,541		157,375
Sekisui House Ltd.(a)		12,794		216,287
Seven & i Holdings Co., Ltd.		14,682		504,117
SG Holdings Co., Ltd.		4,259		113,246
Shimadzu Corp.		6,578		159,823
Shimano, Inc.		1,691		240,314
Shimizu Corp.		14,642		118,808
Shin-Etsu Chemical Co., Ltd.		7,791		800,448
Shionogi & Co., Ltd.		6,012		335,387
Shiseido Co., Ltd.		7,332		543,341
Shizuoka Bank Ltd. (The)		14,372		99,542
Showa Denko K.K.		3,114		84,550
SMC Corp.		1,148		421,453
Softbank Corp.		28,265		382,420
SoftBank Group Corp.		30,688		1,590,717
Sompo Holdings, Inc.		7,671		320,193
Sony Corp.		22,585		1,283,440
Sotetsu Holdings, Inc.		3,286		87,253
Stanley Electric Co., Ltd.		4,155		103,631
Subaru Corp.		11,860		277,944
SUMCO Corp.		5,507		73,545
Sumitomo Chemical Co., Ltd.		33,082		152,346
Sumitomo Corp.		24,428		365,267
Sumitomo Dainippon Pharma Co., Ltd.		3,301		61,019
Sumitomo Electric Industries Ltd.		16,109		200,890
Sumitomo Metal Mining Co., Ltd.		5,303		152,142
Sumitomo Mitsui Financial Group, Inc.		25,404		890,749
Sumitomo Mitsui Trust Holdings, Inc.		7,507		258,173
Sumitomo Realty & Development Co., Ltd.		8,820		323,068
Suntory Beverage & Food Ltd.		3,088		123,292
Suzuki Motor Corp.		8,338		327,837
Sysmex Corp.		3,957		289,518
T&D Holdings, Inc.		13,536		152,845
Taiheiyo Cement Corp.		3,687		104,421
Taisei Corp.		5,107		177,328
Taisho Pharmaceutical Holdings Co., Ltd.		1,346		103,267
Taiyo Yuden Co., Ltd.(a)		2,905		58,568
Takeda Pharmaceutical Co., Ltd.		28,013		937,852

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE International ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
Japan (continued)
TDK Corp.		2,610	$	203,608
Teijin Ltd.		6,176		107,564
Terumo Corp.		13,145		385,240
Tobu Railway Co., Ltd.		5,408		154,906
Toho Co., Ltd.		3,957		154,891
Toho Gas Co., Ltd.		1,970		75,389
Tohoku Electric Power Co., Inc.		9,898		99,459
Tokio Marine Holdings, Inc.		12,949		691,369
Tokyo Electric Power Co., Holdings, Inc.*		30,589		147,909
Tokyo Electron Ltd.		3,059		526,714
Tokyo Gas Co., Ltd.		9,626		241,282
Tokyu Corp.		12,367		217,782
Toppan Printing Co., Ltd.		7,693		125,979
Toray Industries, Inc.		32,059		222,309
Toshiba Corp.		9,620		308,779
TOTO Ltd.		3,952		159,609
Toyo Suisan Kaisha Ltd.		2,976		120,465
Toyota Industries Corp.		3,589		187,425
Toyota Motor Corp.		44,856		2,901,852
Toyota Tsusho Corp.		5,334		155,734
Tsuruha Holdings, Inc.		1,066		109,275
Unicharm Corp.		8,349		238,224
USS Co., Ltd.		6,984		139,391
West Japan Railway Co.		3,747		308,457
Yahoo Japan Corp.		55,642		164,505
Yakult Honsha Co., Ltd.		3,075		174,743
Yamada Denki Co., Ltd.		18,839		83,459
Yamaguchi Financial Group, Inc.		10,802		75,711
Yamaha Corp.		3,292		156,451
Yamaha Motor Co., Ltd.		6,447		113,888
Yamato Holdings Co., Ltd.		7,949		156,930
Yaskawa Electric Corp.(a)		5,397		181,433
ZOZO, Inc.		3,786		71,937
Total Japan				64,150,275
Luxembourg - 0.2%
ArcelorMittal		10,812		174,769
Eurofins Scientific SE		258		110,881
RTL Group SA(a)		1,010		50,109
SES SA		7,267		121,042
Tenaris SA		10,833		137,320
Total Luxembourg				594,121
Macau - 0.2%
Galaxy Entertainment Group Ltd.		42,619		294,003
Sands China Ltd.		48,369		235,422
Wynn Macau Ltd.		34,559		78,849
Total Macau				608,274
Netherlands - 4.3%
ABN AMRO Bank NV‡		5,657		113,121
Adyen NV‡*		190		145,332
Aegon NV		34,305		171,000
Akzo Nobel NV		4,358		414,620
ASML Holding NV		6,862		1,549,422
ASR Nederland NV		2,280		86,387
EXOR NV		2,241		157,093
Heineken Holding NV		2,042		208,486
Heineken NV		4,290		463,892
ING Groep NV		71,599		802,923
Koninklijke Ahold Delhaize NV		20,815		474,053
Koninklijke DSM NV		3,513		441,203
	Shares		Value
Common Stocks (continued)
Netherlands (continued)
Koninklijke KPN NV(a)		67,824	$	194,905
Koninklijke Philips NV		16,948		801,688
NN Group NV		6,949		263,291
Randstad NV		2,358		119,560
Royal Dutch Shell PLC, Class A		76,873		2,441,659
Royal Dutch Shell PLC, Class B		67,969		2,165,922
Wolters Kluwer NV		5,211		380,374
Total Netherlands				11,394,931
New Zealand - 0.3%
a2 Milk Co., Ltd.*		15,172		180,444
Auckland International Airport Ltd.		33,465		205,519
Fisher & Paykel Healthcare Corp. Ltd.		16,026		174,523
Fletcher Building Ltd.		28,017		91,716
Spark New Zealand Ltd.		54,464		143,066
Total New Zealand				795,268
Norway - 0.6%
Aker BP ASA(a)		2,124		60,946
DNB ASA		20,746		375,005
Equinor ASA		18,992		343,624
Mowi ASA		6,715		162,937
Norsk Hydro ASA		26,319		91,133
Orkla ASA		17,885		153,713
Schibsted ASA, Class A		3,531		96,252
Telenor ASA		11,955		245,162
Yara International ASA		3,693		175,181
Total Norway				1,703,953
Poland - 0.3%
Bank Polska Kasa Opieki SA		6,008		160,999
CD Projekt SA		1,597		95,424
mBank SA*		929		84,326
Polski Koncern Naftowy ORLEN SA		6,917		174,953
Powszechna Kasa Oszczednosci Bank Polski SA		20,699		219,775
Powszechny Zaklad Ubezpieczen SA		13,784		149,720
Total Poland				885,197
Portugal - 0.1%
EDP - Energias de Portugal SA		44,688		165,238
Galp Energia SGPS SA		8,131		127,512
Jeronimo Martins SGPS SA		5,665		92,120
Total Portugal				384,870
Russia - 0.1%
Polymetal International PLC		12,111		147,641
VEON Ltd.		23,022		71,002
Total Russia				218,643
Singapore - 1.3%
Ascendas Real Estate Investment Trust		88,450		197,769
CapitaLand Commercial Trust		118,867		178,924
CapitaLand Ltd.		54,208		143,388
CapitaLand Mall Trust		96,167		184,105
ComfortDelGro Corp. Ltd.		65,972		130,638
DBS Group Holdings Ltd.		32,894		634,782
Genting Singapore Ltd		144,869		97,387
Keppel Corp. Ltd.		36,464		170,523
Oversea-Chinese Banking Corp. Ltd.		61,867		521,680
Singapore Exchange Ltd.		28,615		165,599

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE International ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
Singapore (continued)
Singapore Post Ltd.		88,249	$	62,227
Singapore Press Holdings Ltd.		55,768		90,057
Singapore Technologies Engineering Ltd.		45,327		140,431
Singapore Telecommunications Ltd.		136,768		332,788
United Overseas Bank Ltd.		23,970		462,393
Total Singapore				3,512,691
South Africa - 0.2%
Anglo American PLC		19,701		491,866
South Korea - 4.1%
Amorepacific Corp.		744		88,040
Celltrion, Inc.*		1,852		266,897
DB Insurance Co., Ltd.		1,623		76,959
E-Mart Inc.		601		61,974
GS Holdings Corp.		2,135		90,770
Hana Financial Group, Inc.		6,615		194,296
Hankook Tire & Technology Co., Ltd.		2,239		58,478
Hanmi Pharm Co. Ltd.		185		45,347
Helixmith Co. Ltd.*		324		54,087
HLB, Inc.*		784		17,991
Hotel Shilla Co., Ltd.		900		59,868
Hyundai Engineering & Construction Co., Ltd.		1,707		62,113
Hyundai Heavy Industries Holdings Co., Ltd.		249		68,611
Hyundai Mobis Co., Ltd.		1,299		264,609
Hyundai Motor Co.		3,342		357,335
Industrial Bank of Korea		9,825		109,204
Kakao Corp.		1,132		121,515
Kangwon Land, Inc.		4,140		107,603
KB Financial Group, Inc.		8,278		303,664
Kia Motors Corp.		5,934		219,434
Korea Electric Power Corp.*		5,399		127,320
Korea Shipbuilding & Offshore Engineering Co., Ltd.*		911		83,546
Korea Zinc Co., Ltd.		300		112,205
KT&G Corp.		2,514		204,630
LG Chem Ltd.		996		284,126
LG Corp.		2,554		152,623
LG Display Co., Ltd.*		5,035		61,709
LG Electronics, Inc.		2,276		125,621
LG Household & Health Care Ltd.		208		220,992
Lotte Chemical Corp.		356		70,111
Medy-Tox, Inc.		115		40,621
NAVER Corp.		2,710		316,102
NCSoft Corp.		384		156,281
POSCO		1,374		261,886
Samsung Biologics Co., Ltd.‡*		323		76,443
Samsung C&T Corp.		1,689		130,911
Samsung Electro-Mechanics Co., Ltd.		1,184		92,070
Samsung Electronics Co., Ltd.		84,810		3,250,895
Samsung Fire & Marine Insurance Co., Ltd.		813		180,728
Samsung Life Insurance Co., Ltd.		1,792		115,266
Samsung SDI Co., Ltd.		1,069		224,986
Samsung SDS Co., Ltd.		723		127,416
Shinhan Financial Group Co., Ltd.		9,771		359,258
SillaJen, Inc.*		1,181		44,171
SK Holdings Co., Ltd.		724		135,241
SK Hynix, Inc.		9,477		615,993
SK Innovation Co., Ltd.		1,297		187,463
SK Telecom Co., Ltd.		724		152,070
S-Oil Corp.		1,266		100,694
Woongjin Coway Co., Ltd.		1,601		113,536
	Shares		Value
Common Stocks (continued)
South Korea (continued)
Woori Financial Group, Inc.		12,586	$	139,360
Total South Korea				10,893,069
Spain - 2.8%
Abertis Infraestructuras SA*(b)(c)		5,353		38,561
ACS Actividades de Construccion y Servicios SA		5,839		237,942
Aena SME SA‡		1,454		265,659
Amadeus IT Group SA		7,726		613,848
Banco Bilbao Vizcaya Argentaria SA		121,031		619,810
Banco de Sabadell SA		119,911		105,686
Banco Santander SA		290,603		1,249,902
Bankinter SA		18,765		122,600
CaixaBank SA		68,475		170,396
Cellnex Telecom SA‡*		4,062		153,272
Enagas SA		5,626		123,244
Endesa SA(a)		6,176		153,686
Ferrovial SA		10,910		286,066
Grifols SA		10,639		347,072
Iberdrola SA		110,407		1,053,485
Iberdrola SA-Interim*(b)		2,498		23,835
Industria de Diseno Textil SA		18,979		571,177
Naturgy Energy Group SA		5,963		152,038
Red Electrica Corp. SA		8,971		170,800
Repsol SA(a)		24,836		397,780
Telefonica SA		80,343		619,110
Total Spain				7,475,969
Sweden - 2.4%
Alfa Laval AB		7,318		138,150
Assa Abloy AB, B Shares		16,610		385,939
Atlas Copco AB, A Shares		11,315		350,308
Atlas Copco AB, B Shares		6,873		189,716
Boliden AB		5,571		127,789
Electrolux AB, Series B		5,396		126,109
Epiroc AB, A Shares		11,735		129,789
Epiroc AB, B Shares		7,271		76,248
Essity AB, B Shares		11,404		342,364
Hennes & Mauritz AB, B Shares		16,394		288,228
Hexagon AB, B Shares		4,835		236,883
Industrivarden AB, A Shares		9,725		218,360
Investor AB, B Shares		10,312		495,114
Kinnevik AB, B Shares		6,322		162,644
Lundin Petroleum AB		4,852		154,566
Sandvik AB		20,247		314,791
Securitas AB, B Shares		7,006		109,547
Skandinaviska Enskilda Banken AB, A Shares		26,900		255,340
Skanska AB, B Shares		7,094		133,662
SKF AB, B Shares		8,169		135,310
Svenska Cellulosa AB SCA, B Shares		13,097		109,629
Svenska Handelsbanken AB, A Shares		26,751		243,162
Swedbank AB, A Shares		18,175		250,464
Swedish Match AB		4,088		157,628
Tele2 AB, B Shares		10,680		154,136
Telefonaktiebolaget LM Ericsson, B Shares		54,123		480,120
Telia Co. AB		48,020		215,994
Trelleborg AB, B Shares		6,486		90,294
Volvo AB, B Shares		27,840		418,624
Total Sweden				6,490,908

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE International ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
Switzerland - 9.0%
ABB Ltd.		33,120	$	629,113
Adecco Group AG		3,071		168,936
Alcon, Inc.*		8,096		474,311
Baloise Holding AG		1,055		191,712
Chocoladefabriken Lindt & Spruengli AG		30		222,121
Cie Financiere Richemont SA		9,534		822,428
Clariant AG*		5,861		107,925
Coca-Cola HBC AG*		4,159		144,423
Credit Suisse Group AG*		42,858		520,790
Dufry AG*		715		63,296
EMS-Chemie Holding AG		208		130,893
Geberit AG		772		358,317
Givaudan SA		179		478,418
Glencore PLC*		200,973		655,684
Julius Baer Group Ltd.*		4,350		187,358
Kuehne + Nagel International AG		802		118,882
LafargeHolcim Ltd.*		7,919		391,551
Lonza Group AG*		1,380		475,751
Mediclinic International PLC		11,118		46,735
Nestle SA		52,266		5,580,319
Novartis AG		38,480		3,554,930
Partners Group Holding AG		392		314,471
PSP Swiss Property AG		1,218		146,652
Roche Holding AG		12,749		3,433,859
Schindler Holding AG – Participating Certificate		1,207		280,658
SGS SA		108		268,364
Sika AG		2,741		398,691
Sonova Holding AG		1,160		268,909
Straumann Holding AG		167		137,142
Swatch Group AG (The)		654		191,444
Swiss Life Holding AG		678		329,755
Swiss Prime Site AG*		1,879		166,168
Swiss Re AG		5,281		515,084
Swisscom AG		478		232,965
Temenos AG*		1,012		180,013
UBS Group AG*		62,393		699,243
Vifor Pharma AG(a)		1,080		161,127
Zurich Insurance Group AG		2,551		892,850
Total Switzerland				23,941,288
United Arab Emirates - 0.0%(d)
NMC Health PLC		2,497		75,641
United Kingdom - 13.3%
3i Group PLC		20,433		278,339
Admiral Group PLC		5,543		147,077
Amcor PLC		32,573		348,663
Ashtead Group PLC		9,825		273,447
Associated British Foods PLC		6,618		196,103
AstraZeneca PLC		23,552		2,036,269
Auto Trader Group PLC‡		17,761		117,828
Aviva PLC		73,243		364,200
B&M European Value Retail SA		16,041		72,673
BAE Systems PLC		57,001		382,895
Barclays PLC		311,798		588,248
Barratt Developments PLC		20,271		160,144
Berkeley Group Holdings PLC		2,618		124,314
BP PLC		351,108		2,346,042
British American Tobacco PLC		40,858		1,476,844
British Land Co. PLC (The)		19,045		118,464
BT Group PLC		153,901		364,036
Bunzl PLC		7,031		185,096
	Shares		Value
Common Stocks (continued)
United Kingdom (continued)
Burberry Group PLC		8,742	$	241,807
Centrica PLC		101,713		94,752
Compass Group PLC		28,199		719,224
Croda International PLC		3,108		178,406
DCC PLC		2,014		171,686
Diageo PLC		42,013		1,771,434
Direct Line Insurance Group PLC		30,425		120,107
DS Smith PLC		30,129		131,592
Experian PLC		17,594		538,574
G4S PLC		34,039		79,836
GlaxoSmithKline PLC		87,950		1,833,537
GVC Holdings PLC		11,394		82,536
Hammerson PLC		19,064		50,024
Hargreaves Lansdown PLC		6,211		159,706
HSBC Holdings PLC		360,670		2,900,135
IMI PLC		7,191		92,056
Imperial Brands PLC		17,439		447,349
Informa PLC		26,841		287,244
InterContinental Hotels Group PLC		3,697		258,887
International Consolidated Airlines Group SA		16,494		85,712
Intertek Group PLC		3,508		245,180
ITV PLC		70,059		95,177
J Sainsbury PLC		34,507		83,089
John Wood Group PLC		13,485		87,677
Johnson Matthey PLC		4,064		159,984
Just Eat PLC*		11,809		110,095
Kingfisher PLC		44,127		120,166
Land Securities Group PLC		14,346		139,860
Legal & General Group PLC		109,905		352,313
Lloyds Banking Group PLC		1,281,198		836,621
London Stock Exchange Group PLC		5,691		461,723
Marks & Spencer Group PLC		40,038		101,922
Meggitt PLC		19,370		141,499
Melrose Industries PLC		98,447		225,356
Micro Focus International PLC		6,656		141,711
Mondi PLC		10,530		232,534
National Grid PLC		60,393		624,345
Next PLC		2,752		204,338
Ocado Group PLC*		9,168		139,817
Pearson PLC		16,240		173,239
Persimmon PLC		6,485		159,526
Prudential PLC		46,718		971,322
Quilter PLC‡		33,339		59,069
Reckitt Benckiser Group PLC		11,396		889,138
RELX PLC		34,333		821,233
Rentokil Initial PLC		33,018		175,866
Rolls-Royce Holdings PLC*		31,261		329,952
Royal Bank of Scotland Group PLC		84,085		223,419
RSA Insurance Group PLC		23,855		163,747
Sage Group PLC (The)		22,885		201,755
Schroders PLC		2,499		90,971
Severn Trent PLC		4,829		119,144
Smith & Nephew PLC		17,519		398,777
Smiths Group PLC		9,379		188,569
Spirax-Sarco Engineering PLC		1,288		141,859
SSE PLC		18,623		250,946
St James's Place PLC		11,464		138,125
Standard Chartered PLC		51,232		424,564
Standard Life Aberdeen PLC		45,592		166,806
Subsea 7 SA		4,680		50,891
Tate & Lyle PLC		12,283		113,612
Taylor Wimpey PLC		65,095		128,964
Tesco PLC		181,286		495,672

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE International ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
United Kingdom (continued)
Unilever NV		25,694	$	1,497,041
Unilever PLC		19,310		1,171,685
United Utilities Group PLC		13,616		131,476
Vodafone Group PLC		490,560		901,480
Weir Group PLC (The)		5,406		99,092
Whitbread PLC		2,507		138,842
Wm Morrison Supermarkets PLC(a)		50,574		120,538
WPP PLC		22,544		267,869
Total United Kingdom				35,533,882
United States - 0.2%
Carnival PLC		3,344		151,622
Ferguson PLC		4,330		326,807
OneMarket Ltd*		1,857		864
Samsonite International SA‡		31,288		61,873
Total United States				541,166
Total Common Stocks
(Cost $290,183,760)				265,200,461
Preferred Stocks - 0.7%
Germany - 0.5%
FUCHS PETROLUB SE, 2.66%(a)		2,921		113,634
Henkel AG & Co. KGaA, 2.00%		3,504		363,762
Porsche Automobil Holding SE, 3.70%		3,313		220,141
Sartorius AG, 0.33%		651		134,382
Volkswagen AG, 3.21%		3,590		603,323
Total Germany				1,435,242
South Korea - 0.2%
Samsung Electronics Co., Ltd., 3.87%		13,790		431,265
Total Preferred Stocks
(Cost $2,046,857)				1,866,507
Investment of Cash Collateral For Securities Loaned — 1.0%
Money Market Fund — 1.0%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.26%(e)
(Cost $2,617,396)		2,617,396		2,617,396
Total Investments — 100.9%
(Cost $294,848,013)				269,684,364
Other Assets and Liabilities, Net — (0.9)%				(2,244,385	)
Net Assets — 100.0%			$	267,439,979

1

				% of
Industry	Value			Net Assets
Financials	$	49,727,085			18.6	%
Industrials		40,020,579			15.0
Consumer Staples		30,023,658			11.2
Health Care		29,606,386			11.1
Consumer Discretionary		29,331,004			10.9
Information Technology		20,831,962			7.8
Materials		20,641,971			7.7
Communication Services		14,444,324			5.4
Energy		14,089,716			5.3
Utilities		9,585,816			3.6
Real Estate		8,764,467			3.3
Money Market Fund		2,617,396			1.0
Total Investments	$	269,684,364			100.9%
Other Assets and Liabilities, Net		(2,244,385	)		(0.9	)
Total Net Assets	$	267,439,979			100.0%

*	Non-income producing securities.
‡	May be sold to institutional investors only under Rule 144A or securities offered pursuant to section 4 (a) (2) of the Securities Act of 1933, as amended.
(a)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $3,071,972; total market value of collateral held by the Fund was $3,244,332.  Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $626,936.
(b)	Securities have been deemed illiquid because they may not be able to be resold within seven days at approximately the price shown. At July 31, 2019, the value of these securities was $62,396.
(c)	Security is fair valued as determined in good faith in accordance with the procedures established by the Board of Trustees. The security is fair valued using significant unobservable inputs.
(d)	Less than 0.05%.
(e)	Reflects the 1-day yield at July 31, 2019.

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE International ETF (continued)

July 31, 2019 (unaudited)

Forward Foreign Currency Contracts Outstanding as of July 31, 2019:

Purchased Contracts	Settlement Date	Counterparty	Currency Amount Purchased		Value at Settlement Date		Value at July 31, 2019		Unrealized Appreciation
Australian Dollar	08/06/19	Morgan Stanley		13,540,829	$	9,334,221	$	9,335,131	$	910
Swiss Franc	08/06/19	Morgan Stanley		11,210,788		11,324,480		11,330,452		5,972
Danish Krone	08/06/19	Morgan Stanley		14,330,829		2,137,313		2,137,970		657
Euro	08/06/19	Morgan Stanley		33,937,713		37,796,047		37,805,255		9,208
British Pound	08/06/19	Morgan Stanley		17,010,045		20,830,709		20,834,320		3,611
Israeli Shekel	08/06/19	Morgan Stanley		2,218,993		634,647		634,801		154
Japanese Yen	08/06/19	Morgan Stanley		3,431,044,121		31,608,040		31,615,157		7,117
New Zealand Dollar	08/06/19	Morgan Stanley		570,475		376,520		376,565		45
Swedish Krona	08/06/19	Morgan Stanley		31,152,971		3,248,716		3,248,960		244
Singapore Dollar	08/06/19	Morgan Stanley		2,397,963		1,752,029		1,752,349		320
Unrealized Appreciation					$	119,042,722	$	119,070,960	$	28,238

Sold Contracts	Settlement Date	Counterparty	Currency Amount Sold			Value at Settlement Date			Value at July 31, 2019			Unrealized Appreciation
Australian Dollar	08/06/19	Morgan Stanley		(13,540,829	)	$	(9,511,647	)	$	(9,335,131	)	$	176,516
Swiss Franc	08/06/19	Morgan Stanley		(11,210,788	)		(11,533,985	)		(11,330,452	)		203,533
Danish Krone	08/06/19	Morgan Stanley		(14,330,829	)		(2,193,000	)		(2,137,970	)		55,030
Euro	08/06/19	Morgan Stanley		(33,937,713	)		(38,753,033	)		(37,805,255	)		947,778
British Pound	08/06/19	Morgan Stanley		(17,010,045	)		(21,682,801	)		(20,834,320	)		848,481
Hong Kong Dollar	08/06/19	Morgan Stanley		(39,105,210	)		(5,005,239	)		(4,996,035	)		9,204
Japanese Yen	08/06/19	Morgan Stanley		(3,431,044,121	)		(31,926,191	)		(31,615,157	)		311,034
South Korean Won#	08/06/19	Morgan Stanley		(6,821,154,300	)		(5,896,215	)		(5,766,563	)		129,652
South Korean Won#	09/04/19	Morgan Stanley		(6,698,910,300	)		(5,669,596	)		(5,668,357	)		1,239
Norwegian Krone	08/06/19	Morgan Stanley		(7,902,565	)		(927,812	)		(899,992	)		27,820
New Zealand Dollar	08/06/19	Morgan Stanley		(570,475	)		(383,420	)		(376,565	)		6,855
Polish Zloty	08/06/19	Morgan Stanley		(1,764,220	)		(473,468	)		(458,400	)		15,068
Swedish Krona	08/06/19	Morgan Stanley		(31,152,971	)		(3,366,023	)		(3,248,960	)		117,063
Singapore Dollar	08/06/19	Morgan Stanley		(2,397,963	)		(1,773,105	)		(1,752,349	)		20,756
Unrealized Appreciation						$	(139,095,535	)	$	(136,225,506	)	$	2,870,029
Total Unrealized Appreciation												$	2,898,267

Purchased Contracts	Settlement Date	Counterparty	Currency Amount Purchased		Value at Settlement Date		Value at July 31, 2019		Unrealized (Depreciation)
Hong Kong Dollar	08/06/19	Morgan Stanley		39,105,210	$	4,996,240	$	4,996,035	$	(205	)
South Korean Won#	08/06/19	Morgan Stanley		6,821,154,300		5,769,394		5,766,563		(2,831	)
Norwegian Krone	08/06/19	Morgan Stanley		7,902,565		900,026		899,992		(34	)
Polish Zloty	08/06/19	Morgan Stanley		1,764,220		458,419		458,401		(18	)
Unrealized Depreciation					$	12,124,079	$	12,120,991	$	(3,088	)

Sold Contracts	Settlement Date	Counterparty	Currency Amount Sold			Value at Settlement Date			Value at July 31, 2019			Unrealized (Depreciation)
Australian Dollar	09/04/19	Morgan Stanley		(14,046,752	)	$	(9,691,061	)	$	(9,694,111	)	$	(3,050	)
Swiss Franc	09/04/19	Morgan Stanley		(11,457,721	)		(11,603,265	)		(11,612,197	)		(8,932	)
Danish Krone	09/04/19	Morgan Stanley		(14,360,285	)		(2,146,898	)		(2,147,928	)		(1,030	)
Euro	09/04/19	Morgan Stanley		(34,437,408	)		(38,436,470	)		(38,454,337	)		(17,867	)
British Pound	09/04/19	Morgan Stanley		(17,622,882	)		(21,609,269	)		(21,616,424	)		(7,155	)
Hong Kong Dollar	09/04/19	Morgan Stanley		(38,354,270	)		(4,901,185	)		(4,901,671	)		(486	)
Israeli Shekel	08/06/19	Morgan Stanley		(2,218,993	)		(623,498	)		(634,801	)		(11,303	)
Israeli Shekel	09/04/19	Morgan Stanley		(2,247,612	)		(643,910	)		(644,152	)		(242	)
Japanese Yen	09/04/19	Morgan Stanley		(3,482,558,039	)		(32,146,130	)		(32,160,797	)		(14,667	)
Norwegian Krone	09/04/19	Morgan Stanley		(7,881,316	)		(898,338	)		(898,345	)		(7	)
New Zealand Dollar	09/04/19	Morgan Stanley		(602,475	)		(397,890	)		(397,943	)		(53	)
Polish Zloty	09/04/19	Morgan Stanley		(1,705,112	)		(443,370	)		(443,377	)		(7	)
Swedish Krona	09/04/19	Morgan Stanley		(31,122,425	)		(3,252,427	)		(3,253,077	)		(650	)
Singapore Dollar	09/04/19	Morgan Stanley		(2,403,646	)		(1,756,802	)		(1,757,246	)		(444	)

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE International ETF (continued)

July 31, 2019 (unaudited) 

Sold Contracts	Settlement Date	Counterparty	Currency Amount Sold	Value at Settlement Date	Value at July 31, 2019	Unrealized (Depreciation)
Unrealized Depreciation				$   (128,550,513)	$   (128,616,406)	$	(65,893)
Total Unrealized Depreciation						$	(68,981)
Net Unrealized Appreciation (Depreciation)						$	2,829,286

As of July 31, 2019, there was no collateral segregated by the counterparty for forward foreign currency contracts.

# Non-deliverable forward.

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.

Asset Valuation Inputs
Description	Level 1		Level 2		Level 3			Total
Investments in Securities:(f)
Common Stocks
Australia	$	20,917,047	$	—	$	—		$	20,917,047
Austria		583,891		—		—			583,891
Belgium		2,854,998		—		—			2,854,998
China		817,912		—		—			817,912
Denmark		4,279,484		—		—			4,279,484
Finland		2,607,493		—		—			2,607,493
France		26,562,537		—		—			26,562,537
Germany		20,048,606		—		—			20,048,606
Hong Kong		8,859,608		—		—			8,859,608
Ireland		1,481,522		—		—			1,481,522
Israel		1,285,488		—		—			1,285,488
Italy		5,209,863		—		—			5,209,863
Japan		64,150,275		—		—			64,150,275
Luxembourg		594,121		—		—			594,121
Macau		608,274		—		—			608,274
Netherlands		11,394,931		—		—			11,394,931
New Zealand		795,268		—		—			795,268
Norway		1,703,953		—		—			1,703,953
Poland		885,197		—		—			885,197
Portugal		384,870		—		—			384,870
Russia		218,643		—		—			218,643
Singapore		3,512,691		—		—			3,512,691
South Africa		491,866		—		—			491,866
South Korea		10,893,069		—		—			10,893,069
Spain		7,413,573		23,835		38,561	(g)		7,475,969
Sweden		6,490,908		—		—			6,490,908
Switzerland		23,941,288		—		—			23,941,288
United Arab Emirates		75,641		—		—			75,641
United Kingdom		35,533,882		—		—			35,533,882
United States		541,166		—		—			541,166
Total Common Stocks		265,138,065		23,835		38,561			265,200,461
Preferred Stocks
Germany		1,435,242		—		—			1,435,242
South Korea		431,265		—		—			431,265
Total Preferred Stocks		1,866,507		—		—			1,866,507
Investment of Cash Collateral for Securities Loaned:
Money Market Fund		2,617,396		—		—			2,617,396
Total Investments in Securities		269,621,968		23,835		38,561			269,684,364
Other Financial Instruments:(h)
Forward Foreign Currency Contracts		—		2,898,267		—			2,898,267
Total Investments in Securities and Other Financial Instruments	$	269,621,968	$	2,922,102	$	38,561		$	272,582,631

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE International ETF (continued) July 31, 2019 (unaudited) Liability Valuation Inputs
Description	Level 1		Level 2		Level 3		Total
Other Financial Instruments:(h)
Forward Foreign Currency Contracts	$	—	$	68,981	$	—	$	68,981

(f)	For a complete listing of investments and their countries, see the Schedules of Investments.
(g)	The Level 3 securities, valued in total at $38,561, have been deemed illiquid and have been fair valued in good faith in accordance with procedures established by the Board of Trustees.
(h)	Reflects the unrealized appreciation (depreciation) of the instruments.

For the period ended July 31, 2019, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:  

Investments in Securities	Balance as of April 30, 2019		Accrued Discounts (Premiums)		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Purchases		Sales			Transfers into Level 3		Transfers out of Level 3		Balance as of July 31, 2019		Change in Unrealized Appreciation (Depreciation) from Investments Still Held at July 31, 2019
Common Stocks
Abertis Infraestructuras SA(i)	$	44,573	$	—	$	—	$	(6,012	)	$	—	$	—		$	—	$	—	$	38,561	$	(6,012	)
Rolls-Royce Holdings PLC — Entitlement		2,895		—		88		(29	)		—		(2,778	)		—		—		—		—
Total	$	47,468	$	—	$	88	$	(6,041	)	$	—	$	(2,778	)	$	—	$	—	$	38,561	$	(6,012	)

(i)  Security has been deemed illiquid and has been fair valued in good faith in accordance with procedures established by the Board of Trustees.  

Information about Level 3 fair value measurements as of July 31, 2019.        

Security Type	Fair Value	Valuation Technique	Unobservable Inputs
Common Stock	$38,561	Issuer Specific Facts	Company Information

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE Europe ETF

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks - 99.0%
Australia - 1.3%
BHP Group PLC		2,061	$	50,073
Rio Tinto PLC		1,090		62,702
Total Australia				112,775
Austria - 0.4%
ANDRITZ AG		68		2,450
Erste Group Bank AG*		284		10,258
OMV AG		141		7,113
Raiffeisen Bank International AG		128		3,024
Telekom Austria AG*		133		992
Verbund AG		64		3,606
Vienna Insurance Group AG Wiener Versicherung Gruppe		38		982
voestalpine AG		114		3,051
Total Austria				31,476
Belgium - 1.8%
Ackermans & van Haaren NV		22		3,228
Ageas		186		10,079
Anheuser-Busch InBev SA/NV		763		77,366
Colruyt SA(a)		51		2,679
Galapagos NV*		46		8,087
Groupe Bruxelles Lambert SA		73		6,948
KBC Group NV		272		17,650
Proximus SADP		139		3,994
Sofina SA		15		2,926
Solvay SA		69		7,134
Telenet Group Holding NV		47		2,329
UCB SA		120		9,435
Umicore SA		204		6,460
Total Belgium				158,315
Chile - 0.1%
Antofagasta PLC		343		3,944
Denmark - 2.7%
Ambu A/S, Class B(a)		164		2,416
AP Moller - Maersk A/S, Class A		4		4,309
AP Moller - Maersk A/S, Class B		6		6,788
Carlsberg A/S, Class B		104		14,291
Chr Hansen Holding A/S		102		8,979
Coloplast A/S, Class B		131		15,396
Danske Bank A/S		656		9,806
Drilling Co. of 1972 A/S (The)*		22		1,498
DSV A/S		176		16,926
Genmab A/S*		55		10,267
GN Store Nord A/S		132		6,320
H Lundbeck A/S		57		2,222
ISS A/S		183		5,167
Jyske Bank A/S*		66		2,119
Novo Nordisk A/S, Class B		1,638		79,132
Novozymes A/S, Class B		207		9,670
Orsted A/S‡		148		13,598
Pandora A/S		97		3,758
Rockwool International A/S, Class B		6		1,477
Tryg A/S		120		3,689
Vestas Wind Systems A/S		197		16,297
William Demant Holding A/S*(a)		106		3,151
Total Denmark				237,276
Finland - 1.9%
Elisa OYJ		142		6,716
Fortum OYJ		428		9,912
Huhtamaki OYJ		90		3,443
Kesko OYJ, Class B		66		4,030
	Shares		Value
Common Stocks (continued)
Finland (continued)
Kone OYJ, Class B		387	$	22,234
Metso OYJ		106		4,120
Neste OYJ		413		13,790
Nokia OYJ(a)		5,552		30,163
Nokian Renkaat OYJ		134		3,875
Nordea Bank Abp		3,142		20,346
Orion OYJ, Class B(a)		101		3,487
Sampo OYJ, Class A		486		20,384
Stora Enso OYJ, Class R		569		6,611
UPM-Kymmene OYJ		529		14,401
Wartsila OYJ Abp		451		5,717
Total Finland				169,229
France - 16.9%
Accor SA		196		8,795
Adevinta ASA, Class A*		76		860
Adevinta ASA, Class B*		143		1,604
Aeroports de Paris		28		4,854
Air France-KLM*		208		2,182
Air Liquide SA		417		58,036
Airbus SE		545		77,707
ALD SA‡		78		1,172
Alstom SA		153		6,650
Amundi SA‡		55		3,821
Arkema SA		71		6,459
Atos SE		92		7,484
AXA SA		1,903		48,521
BioMerieux		41		3,494
BNP Paribas SA		1,072		50,345
Bollore SA		973		4,216
Bouygues SA		206		7,427
Bureau Veritas SA		273		6,866
Capgemini SE		154		19,761
Carrefour SA		554		10,736
Casino Guichard Perrachon SA(a)		55		2,045
Cie de Saint-Gobain		480		18,574
Cie Generale des Etablissements Michelin		175		19,572
Cie Plastic Omnium SA(a)		54		1,435
CNP Assurances		157		3,269
Covivio		44		4,524
Credit Agricole SA		1,130		13,563
Danone SA		593		51,763
Dassault Aviation SA		2		2,761
Dassault Systemes SE		131		20,128
Edenred		236		11,940
Eiffage SA		75		7,462
Electricite de France SA		493		6,156
Elis SA		188		3,512
Engie SA		1,640		25,418
EssilorLuxottica SA		291		39,739
Eurazeo SE		48		3,241
Eutelsat Communications SA		183		3,529
Faurecia SE		73		3,495
Gecina SA		52		8,025
Getlink SE		449		6,524
Hermes International		31		21,973
ICADE		32		2,797
Iliad SA(a)		24		2,506
Imerys SA		35		1,475
Ingenico Group SA		62		5,937
Ipsen SA		34		3,926
JCDecaux SA		70		2,036
Kering SA		73		38,160
Klepierre SA		193		5,982
Lagardere SCA		112		2,556
Legrand SA		264		18,771

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE Europe ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
France (continued)
L'Oreal SA		238	$	64,127
LVMH Moet Hennessy Louis Vuitton SE		247		103,211
Natixis SA		831		3,370
Orange SA		1,896		28,340
Orpea		44		5,551
Pernod Ricard SA		210		37,188
Peugeot SA		539		12,819
Publicis Groupe SA		208		10,354
Remy Cointreau SA*		24		3,578
Renault SA		182		10,241
Rexel SA		299		3,367
Rubis SCA		88		4,987
Safran SA		327		47,276
Sanofi		1,074		90,234
Sartorius Stedim Biotech		24		3,867
Schneider Electric SE		520		45,206
SCOR SE		147		6,089
SEB SA		27		4,359
Societe BIC SA		24		1,681
Societe Generale SA		717		17,726
Sodexo SA		86		9,925
Suez		364		5,382
Teleperformance		57		12,033
Thales SA		99		11,249
TOTAL SA		2,391		125,214
Ubisoft Entertainment SA*		85		7,075
Unibail-Rodamco-Westfield		133		17,918
Valeo SA(a)		236		7,462
Veolia Environnement SA		494		12,568
Vinci SA		460		47,754
Vivendi SA		958		26,858
Wendel SA		28		3,897
Worldline SA‡*(a)		83		5,988
Total France				1,490,678
Germany - 12.8%
1&1 Drillisch AG		45		1,368
adidas AG		194		62,543
Allianz SE		419		98,155
Aroundtown SA		719		5,790
Axel Springer SE(a)		43		2,990
BASF SE		907		61,126
Bayer AG		925		60,506
Bayerische Motoren Werke AG		318		23,662
Beiersdorf AG(a)		99		11,574
Brenntag AG		153		7,562
Carl Zeiss Meditec AG		36		3,986
Commerzbank AG		1,032		7,082
Continental AG		107		14,920
Covestro AG‡		169		7,735
Daimler AG		852		44,485
Delivery Hero SE‡*		108		5,240
Deutsche Bank AG		2,030		15,912
Deutsche Boerse AG		182		25,593
Deutsche Lufthansa AG		236		3,777
Deutsche Post AG		966		31,739
Deutsche Telekom AG		3,200		53,016
Deutsche Wohnen SE		352		13,020
DWS Group GmbH & Co. KGaA‡		32		1,079
E.ON SE		2,149		21,664
Evonik Industries AG		165		4,769
Fielmann AG		23		1,616
Fraport AG Frankfurt Airport Services Worldwide		35		2,951
Fresenius Medical Care AG & Co. KGaA		211		14,777
Fresenius SE & Co. KGaA		403		20,434
	Shares		Value
Common Stocks (continued)
Germany (continued)
FUCHS PETROLUB SE		32	$	1,142
GEA Group AG		164		4,136
GRENKE AG		26		2,258
Hannover Rueck SE		60		9,466
Hapag-Lloyd AG‡		27		1,145
HeidelbergCement AG		148		10,813
Hella GmbH & Co. KGaA		43		2,063
Henkel AG & Co. KGaA		101		9,564
HOCHTIEF AG		20		2,289
HUGO BOSS AG		64		4,073
Infineon Technologies AG		1,122		21,262
Innogy SE‡		127		6,152
K+S AG(a)		185		3,034
KION Group AG		70		3,789
Knorr-Bremse AG		48		4,901
LANXESS AG		91		5,485
LEG Immobilien AG		63		7,344
Merck KGaA		128		13,174
METRO AG(a)		164		2,556
MTU Aero Engines AG		51		12,861
Muenchener Rueckversicherungs-Gesellschaft AG		138		33,465
OSRAM Licht AG(a)		85		3,256
ProSiebenSat.1 Media SE		220		2,873
Puma SE		80		5,634
Rational AG		3		2,058
Rheinmetall AG		43		4,950
Rocket Internet SE‡*		64		1,819
RWE AG		568		15,469
SAP SE		960		119,414
Scout24 AG‡*		107		5,987
Siemens AG		750		82,662
Siemens Healthineers AG‡		130		5,473
Suedzucker AG		76		1,186
Symrise AG		125		11,641
Talanx AG		37		1,569
Telefonica Deutschland Holding AG		647		1,643
thyssenkrupp AG		462		6,013
TUI AG		431		4,315
Uniper SE(a)		194		6,037
United Internet AG		115		3,466
Volkswagen AG		32		5,512
Vonovia SE		514		25,329
Wacker Chemie AG		14		1,052
Wirecard AG		113		19,073
Zalando SE‡*		136		6,311
Total Germany				1,132,785
Ireland - 0.8%
AIB Group PLC(a)		756		2,610
Bank of Ireland Group PLC		909		4,048
CRH PLC		800		26,791
Flutter Entertainment PLC		76		6,086
Glanbia PLC		190		2,496
Kerry Group PLC, Class A		145		17,016
Kingspan Group PLC		148		7,300
Smurfit Kappa Group PLC		236		7,536
Total Ireland				73,883
Italy - 3.6%
A2A SpA		1,495		2,630
Assicurazioni Generali SpA		1,272		23,850
Atlantia SpA		528		13,674
Banca Mediolanum SpA		277		1,994
Banco BPM SpA*(a)		1,468		2,759
Buzzi Unicem SpA		69		1,414

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE Europe ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
Italy (continued)
Buzzi Unicem SpA-RSP		40	$	569
Davide Campari-Milano SpA		548		5,137
DiaSorin SpA		23		2,689
Enel SpA		7,705		53,180
Eni SpA		2,479		39,205
Ferrari NV		124		20,109
FinecoBank Banca Fineco SpA		602		6,027
Hera SpA		807		3,028
Intesa Sanpaolo SpA		14,823		32,354
Italgas SpA		473		3,011
Leonardo SpA		384		4,720
Mediaset SpA*(a)		291		859
Mediobanca Banca di Credito Finanziario SpA		722		7,278
Moncler SpA		182		7,532
Pirelli & C SpA‡		417		2,481
Poste Italiane SpA‡		452		4,861
Prysmian SpA		260		5,405
Recordati SpA		93		4,197
Saipem SpA*		557		2,786
Salvatore Ferragamo SpA		65		1,373
Snam SpA		2,250		11,120
Telecom Italia SpA*		10,678		6,070
Telecom Italia SpA-RSP		5,839		3,120
Terna Rete Elettrica Nazionale SpA		1,400		8,579
UniCredit SpA		2,215		26,280
Unione di Banche Italiane SpA		983		2,545
UnipolSai Assicurazioni SpA(a)		553		1,450
Total Italy				312,286
Jordan - 0.0%(b)
Hikma Pharmaceuticals PLC		136		3,065
Kazakhstan - 0.0%(b)
KAZ Minerals PLC		227		1,607
Luxembourg - 0.3%
ArcelorMittal		595		9,618
Eurofins Scientific SE		11		4,728
RTL Group SA		38		1,885
SES SA		348		5,796
Tenaris SA		464		5,882
Total Luxembourg				27,909
Mexico - 0.0%(b)
Fresnillo PLC(a)		179		1,317
Netherlands - 7.2%
Aalberts NV		93		3,775
ABN AMRO Bank NV‡		411		8,219
Adyen NV‡*		10		7,649
Aegon NV		1,739		8,668
Akzo Nobel NV		226		21,502
Altice Europe NV, Class B*		55		206
ASML Holding NV		391		88,287
ASR Nederland NV		138		5,229
Boskalis Westminster NV		81		1,848
EXOR NV		106		7,431
GrandVision NV‡		48		1,452
Heineken Holding NV		105		10,720
Heineken NV		234		25,303
ING Groep NV		3,864		43,332
Koninklijke Ahold Delhaize NV		1,107		25,211
Koninklijke DSM NV		174		21,853
Koninklijke KPN NV(a)		3,282		9,431
Koninklijke Philips NV		907		42,904
	Shares		Value
Common Stocks (continued)
Netherlands (continued)
Koninklijke Vopak NV		66	$	3,277
NN Group NV		330		12,503
OCI NV*		94		2,481
Randstad NV		109		5,527
Royal Dutch Shell PLC, Class A		4,337		137,753
Royal Dutch Shell PLC, Class B		3,714		118,352
Signify NV‡(a)		103		2,815
Wolters Kluwer NV		269		19,636
Total Netherlands				635,364
Norway - 1.1%
Aker ASA, Class A		24		1,282
Aker BP ASA(a)		107		3,070
DNB ASA		1,050		18,980
Equinor ASA		976		17,659
Gjensidige Forsikring ASA		161		3,161
Leroy Seafood Group ASA		246		1,569
Mowi ASA		422		10,240
Norsk Hydro ASA		1,323		4,581
Orkla ASA		757		6,506
Salmar ASA		50		2,331
Schibsted ASA, Class A		79		2,154
Schibsted ASA, Class B		97		2,527
Telenor ASA		661		13,555
Yara International ASA		173		8,206
Total Norway				95,821
Poland - 0.6%
Bank Polska Kasa Opieki SA		155		4,154
CD Projekt SA		62		3,705
Cyfrowy Polsat SA		256		1,998
Dino Polska SA‡*		46		1,746
Grupa Lotos SA		98		2,225
KGHM Polska Miedz SA*		135		3,311
LPP SA		1		2,038
mBank SA*		13		1,180
PGE Polska Grupa Energetyczna SA*		698		1,611
Polski Koncern Naftowy ORLEN SA		308		7,790
Polskie Gornictwo Naftowe I Gazownictwo SA		1,719		2,514
Powszechna Kasa Oszczednosci Bank Polski SA		845		8,972
Powszechny Zaklad Ubezpieczen SA		556		6,039
Santander Bank Polska SA		29		2,467
Total Poland				49,750
Portugal - 0.2%
EDP - Energias de Portugal SA		2,249		8,316
Galp Energia SGPS SA		511		8,013
Jeronimo Martins SGPS SA		241		3,919
Total Portugal				20,248
Russia - 0.1%
Evraz PLC		542		4,320
Polymetal International PLC		307		3,743
VEON Ltd.		634		1,955
Total Russia				10,018
South Africa - 0.3%
Anglo American PLC		978		24,417
Investec PLC		644		3,708
Total South Africa				28,125

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE Europe ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
Spain - 4.6%
Acciona SA		21	$	2,252
Acerinox SA*		166		1,403
ACS Actividades de Construccion y Servicios SA		245		9,984
Aena SME SA‡		70		12,790
Amadeus IT Group SA		403		32,019
Banco Bilbao Vizcaya Argentaria SA		6,562		33,605
Banco de Sabadell SA		5,573		4,912
Banco Santander SA		15,903		68,400
Bankia SA		1,169		2,333
Bankinter SA		680		4,443
CaixaBank SA		3,562		8,864
Cellnex Telecom SA‡*		208		7,848
Corp. Financiera Alba SA		20		1,034
EDP Renovaveis SA		147		1,519
Enagas SA		225		4,929
Endesa SA		314		7,814
Ferrovial SA		470		12,324
Fomento de Construcciones y Contratas SA		73		935
Grifols SA		328		10,700
Iberdrola SA		6,176		58,930
Iberdrola SA-Interim*(c)		139		1,326
Industria de Diseno Textil SA		1,041		31,329
Inmobiliaria Colonial Socimi SA		322		3,621
Mapfre SA		957		2,656
Merlin Properties Socimi SA		323		4,441
Naturgy Energy Group SA		307		7,827
Red Electrica Corp. SA		428		8,149
Repsol SA(a)		1,392		22,295
Siemens Gamesa Renewable Energy SA		222		3,133
Telefonica SA		4,497		34,653
Zardoya Otis SA		173		1,194
Total Spain				407,662
Sweden - 4.2%
Alfa Laval AB		311		5,871
Assa Abloy AB, B Shares		909		21,121
Atlas Copco AB, A Shares		623		19,288
Atlas Copco AB, B Shares		375		10,351
Boliden AB		272		6,239
Castellum AB		267		5,469
Electrolux AB		237		5,539
Elekta AB, B Shares		355		5,088
Epiroc AB, A Shares		624		6,901
Epiroc AB, B Shares		374		3,922
Essity AB, B Shares		602		18,073
Fastighets AB Balder, B Shares*		96		3,324
Hennes & Mauritz AB, B Shares		869		15,278
Hexagon AB, B Shares		248		12,150
Husqvarna AB, B Shares		402		3,597
ICA Gruppen AB		76		3,400
Industrivarden AB, A Shares		206		4,626
Industrivarden AB, C Shares		166		3,641
Investment AB Latour, B Shares		117		1,615
Investor AB, A Shares		132		6,327
Investor AB, B Shares		450		21,606
Kinnevik AB, B Shares		237		6,097
L E Lundbergforetagen AB, B Shares		72		2,692
Lundin Petroleum AB		172		5,479
Nibe Industrier AB, B Shares		297		4,232
Saab AB, B Shares		90		2,861
Sandvik AB		1,067		16,589
Securitas AB, B Shares		307		4,800
Skandinaviska Enskilda Banken AB, A Shares		1,425		13,526
	Shares		Value
Common Stocks (continued)
Sweden (continued)
Skandinaviska Enskilda Banken AB, C Shares		20	$	191
Skanska AB, B Shares		352		6,632
SKF AB, B Shares		378		6,261
Svenska Cellulosa AB SCA, A Shares		21		203
Svenska Cellulosa AB SCA, B Shares		588		4,922
Svenska Handelsbanken AB, A Shares		1,446		13,144
Svenska Handelsbanken AB, B Shares		34		325
Swedbank AB, A Shares		992		13,671
Swedish Match AB		170		6,555
Swedish Orphan Biovitrum AB*		174		3,395
Tele2 AB, B Shares		528		7,620
Telefonaktiebolaget LM Ericsson, A Shares		35		320
Telefonaktiebolaget LM Ericsson, B Shares		2,955		26,214
Telia Co. AB		2,661		11,969
Trelleborg AB, B Shares		241		3,355
Volvo AB, B Shares		1,484		22,315
Total Sweden				366,794
Switzerland - 15.1%
ABB Ltd.		1,769		33,602
Adecco Group AG		154		8,472
Alcon, Inc.*		455		26,657
Baloise Holding AG		46		8,359
Banque Cantonale Vaudoise		3		2,242
Barry Callebaut AG		2		3,937
Chocoladefabriken Lindt & Spruengli AG		1		7,404
Cie Financiere Richemont SA		505		43,563
Clariant AG*		199		3,664
Coca-Cola HBC AG*		195		6,771
Credit Suisse Group AG*		2,486		30,209
DKSH Holding AG		35		1,778
Dufry AG*		29		2,567
EMS-Chemie Holding AG		7		4,405
Flughafen Zurich AG		19		3,485
Geberit AG		35		16,245
Georg Fischer AG		4		3,475
Givaudan SA		9		24,055
Glencore PLC*		11,056		36,071
Helvetia Holding AG		32		4,095
Julius Baer Group Ltd.*		215		9,260
Kuehne + Nagel International AG		50		7,412
LafargeHolcim Ltd.*		468		23,140
Logitech International SA		145		6,037
Lonza Group AG*		73		25,167
Mediclinic International PLC		381		1,601
Nestle SA		2,950		314,965
Novartis AG		2,162		199,734
OC Oerlikon Corp. AG		191		2,060
Pargesa Holding SA		37		2,792
Partners Group Holding AG		16		12,836
PSP Swiss Property AG		39		4,696
Roche Holding AG		689		185,578
Roche Holding AG		26		7,012
Schindler Holding AG - Participating Certificate		40		9,301
Schindler Holding AG - Registered		19		4,303
SGS SA		5		12,424
Sika AG		137		19,927
Sonova Holding AG		54		12,518
STMicroelectronics NV		629		11,706
Straumann Holding AG		10		8,212
Sulzer AG		17		1,726
Swatch Group AG (The) - Bearer		29		8,489
Swatch Group AG (The) - Registered		45		2,473
Swiss Life Holding AG		33		16,050

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE Europe ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
Switzerland (continued)
Swiss Prime Site AG*		74	$	6,544
Swiss Re AG		297		28,968
Swisscom AG		25		12,184
Temenos AG*		59		10,495
UBS Group AG*		3,442		38,575
Vifor Pharma AG		44		6,564
Zurich Insurance Group AG		146		51,100
Total Switzerland				1,334,905
United Arab Emirates - 0.0%(b)
NMC Health PLC		83		2,514
United Kingdom - 22.6%
3i Group PLC		945		12,873
Admiral Group PLC		202		5,360
Ashmore Group PLC(a)		372		2,444
Ashtead Group PLC		469		13,053
Associated British Foods PLC		345		10,223
AstraZeneca PLC		1,301		112,482
Auto Trader Group PLC‡		897		5,951
AVEVA Group PLC		63		3,079
Aviva PLC		3,870		19,244
B&M European Value Retail SA		844		3,824
Babcock International Group PLC		247		1,441
BAE Systems PLC		3,172		21,307
Barclays PLC		17,032		32,133
Barratt Developments PLC		999		7,892
Bellway PLC		122		4,437
Berkeley Group Holdings PLC		119		5,651
BP PLC		19,740		131,899
British American Tobacco PLC		2,262		81,762
British Land Co. PLC (The)		947		5,891
BT Group PLC		8,267		19,555
Bunzl PLC		333		8,766
Burberry Group PLC		405		11,202
Capital & Counties Properties PLC		711		1,725
Centrica PLC		5,652		5,265
Cineworld Group PLC		999		3,120
CNH Industrial NV		979		10,000
Cobham PLC*		2,370		4,797
Compass Group PLC		1,570		40,043
ConvaTec Group PLC‡		1,454		2,779
Croda International PLC		124		7,118
CYBG PLC		1,224		2,579
DCC PLC		97		8,269
Derwent London PLC		99		3,540
Diageo PLC		2,315		97,610
Direct Line Insurance Group PLC		1,366		5,392
DS Smith PLC		1,261		5,508
easyJet PLC		210		2,479
Experian PLC		899		27,520
Fiat Chrysler Automobiles NV		1,093		14,647
G4S PLC		1,534		3,598
GlaxoSmithKline PLC		4,857		101,256
GVC Holdings PLC		574		4,158
Halma PLC		376		9,162
Hammerson PLC		751		1,971
Hargreaves Lansdown PLC(a)		267		6,865
Hiscox Ltd.		276		5,745
Howden Joinery Group PLC		567		3,853
HSBC Holdings PLC		20,066		161,350
IMI PLC		266		3,405
Imperial Brands PLC		944		24,216
Inchcape PLC		410		3,135
Informa PLC		1,236		13,227
InterContinental Hotels Group PLC		180		12,605
	Shares		Value
Common Stocks (continued)
United Kingdom (continued)
International Consolidated Airlines Group SA		732	$	3,804
Intertek Group PLC		160		11,183
ITV PLC		3,697		5,022
J Sainsbury PLC		1,609		3,874
JD Sports Fashion PLC		358		2,848
John Wood Group PLC		657		4,272
Johnson Matthey PLC		188		7,401
Just Eat PLC*		571		5,323
Kingfisher PLC		2,073		5,645
Land Securities Group PLC		707		6,893
Legal & General Group PLC		5,866		18,804
Lloyds Banking Group PLC		69,991		45,704
London Stock Exchange Group PLC		310		25,151
Marks & Spencer Group PLC(a)		1,935		4,926
Meggitt PLC		769		5,618
Melrose Industries PLC		4,774		10,928
Merlin Entertainments PLC‡		701		3,875
Micro Focus International PLC		336		7,154
Mondi PLC		481		10,622
National Grid PLC		3,379		34,932
Next PLC		131		9,727
Ocado Group PLC*		446		6,802
Pearson PLC(a)		773		8,246
Pennon Group PLC		416		3,653
Persimmon PLC		312		7,675
Phoenix Group Holdings PLC		522		4,446
Prudential PLC		2,576		53,558
Quilter PLC‡		1,847		3,272
Reckitt Benckiser Group PLC		623		48,608
RELX PLC		1,863		44,562
Renishaw PLC		34		1,604
Rentokil Initial PLC		1,830		9,747
Rightmove PLC		882		5,707
Rolls-Royce Holdings PLC*		1,684		17,774
Royal Bank of Scotland Group PLC		4,483		11,912
Royal Mail PLC		886		2,275
RSA Insurance Group PLC		1,017		6,981
Sage Group PLC (The)		1,076		9,486
Schroders PLC		111		4,041
Segro PLC		1,080		10,106
Severn Trent PLC		235		5,798
Smith & Nephew PLC		867		19,735
Smiths Group PLC		393		7,901
Spirax-Sarco Engineering PLC		73		8,040
SSE PLC		1,026		13,825
St James's Place PLC		518		6,241
Standard Chartered PLC		2,681		22,218
Standard Life Aberdeen PLC		2,413		8,828
Subsea 7 SA		247		2,686
Tate & Lyle PLC		463		4,282
Taylor Wimpey PLC		3,227		6,393
TechnipFMC PLC		455		12,741
Tesco PLC		9,586		26,210
Travis Perkins PLC		245		4,098
Unilever NV		1,438		83,784
Unilever PLC		1,079		65,471
United Utilities Group PLC		677		6,537
Vodafone Group PLC		26,601		48,883
Weir Group PLC (The)		257		4,711
Whitbread PLC		131		7,255
Wm Morrison Supermarkets PLC(a)		2,156		5,139
WPP PLC		1,216		14,449
Total United Kingdom				1,996,792

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE Europe ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
United States - 0.4%
Carnival PLC		159	$	7,209
Ferguson PLC		230		17,359
QIAGEN NV*		217		8,331
Total United States				32,899
Total Common Stocks
(Cost $9,969,170)				8,737,437
Preferred Stocks - 0.9%
Germany - 0.8%
Bayerische Motoren Werke AG, 6.46%		55		3,298
FUCHS PETROLUB SE, 2.66%(a)		69		2,684
Henkel AG & Co. KGaA, 2.00%		173		17,960
Porsche Automobil Holding SE, 3.70%		152		10,100
Sartorius AG, 0.33%		34		7,018
Volkswagen AG, 3.21%		182		30,586
Total Germany				71,646
Spain - 0.1%
Grifols SA, 1.73%, Class B		254		5,798
Total Preferred Stocks
(Cost $90,642)				77,444
Investment of Cash Collateral For Securities Loaned — 1.6%
Money Market Fund — 1.6%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.26%(d)
(Cost $143,069)		143,069		143,069
Total Investments — 101.5%
(Cost $10,202,881)				8,957,950
Other Assets and Liabilities, Net — (1.5)%				(133,657	)
Net Assets — 100.0%			$	8,824,293

_______________

1

				% of
Industry	Value			Net Assets
Financials	$	1,592,953			18.0	%
Consumer Staples		1,235,124			14.0
Industrials		1,204,691			13.6
Health Care		1,175,058			13.4
Consumer Discretionary		844,173			9.6
Energy		675,513			7.6
Materials		655,876			7.4
Information Technology		474,572			5.4
Communication Services		422,792			4.8
Utilities		385,181			4.4
Real Estate		148,948			1.7
Money Market Fund		143,069			1.6
Total Investments	$	8,957,950			101.5%
Other Assets and Liabilities, Net		(133,657	)		(1.5	)
Total Net Assets	$	8,824,293			100.0%

‡	May be sold to institutional investors only under Rule 144A or securities offered pursuant to section 4 (a) (2) of the Securities Act of 1933, as amended.
*	Non-income producing securities.
(a)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $135,319; total market value of collateral held by the Fund was $143,069.
(b)	Less than 0.05%.
(c)	Security has been deemed illiquid because it may not be able to be resold within seven days at approximately the price shown. At July 31, 2019, the value of this security was $1,326.
(d)	Reflects the 1-day yield at July 31, 2019.

Forward Foreign Currency Contracts Outstanding as of July 31, 2019:

Purchased Contracts	Settlement Date	Counterparty	Currency Amount Purchased		Value at Settlement Date		Value at July 31, 2019		Unrealized Appreciation
Swiss Franc	08/06/19	Morgan Stanley		618,894	$	625,170	$	625,500	$	330
Danish Krone	08/06/19	Morgan Stanley		793,320		118,317		118,353		36
Euro	08/06/19	Morgan Stanley		1,934,994		2,154,981		2,155,506		525

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE Europe ETF (continued)

July 31, 2019 (unaudited)

Purchased Contracts	Settlement Date	Counterparty	Currency Amount Purchased		Value at Settlement Date		Value at July 31, 2019		Unrealized Appreciation
British Pound	08/06/19	Morgan Stanley		945,684	$	1,158,096	$	1,158,297	$	201
Swedish Krona	08/06/19	Morgan Stanley		1,749,101		182,401		182,415		14
Unrealized Appreciation					$	4,238,965	$	4,240,071	$	1,106

Sold Contracts	Settlement Date	Counterparty	Currency Amount Sold			Value at Settlement Date			Value at July 31, 2019			Unrealized Appreciation
Swiss Franc	08/06/19	Morgan Stanley		(618,894	)	$	(636,736	)	$	(625,500	)	$	11,236
Danish Krone	08/06/19	Morgan Stanley		(793,320	)		(121,399	)		(118,353	)		3,046
Euro	08/06/19	Morgan Stanley		(1,934,994	)		(2,209,545	)		(2,155,506	)		54,039
British Pound	08/06/19	Morgan Stanley		(945,684	)		(1,205,469	)		(1,158,297	)		47,172
Norwegian Krone	08/06/19	Morgan Stanley		(438,032	)		(51,428	)		(49,886	)		1,542
Polish Zloty	08/06/19	Morgan Stanley		(96,760	)		(25,967	)		(25,141	)		826
Swedish Krona	08/06/19	Morgan Stanley		(1,749,101	)		(188,988	)		(182,415	)		6,573
Unrealized Appreciation						$	(4,439,532	)	$	(4,315,098	)	$	124,434
Total Unrealized Appreciation												$	125,540

Purchased Contracts	Settlement Date	Counterparty	Currency Amount Purchased		Value at Settlement Date		Value at July 31, 2019		Unrealized (Depreciation)
Norwegian Krone	08/06/19	Morgan Stanley		438,032	$	49,888	$	49,886	$	(2	)
Polish Zloty	08/06/19	Morgan Stanley		96,760		25,142		25,141		(1	)
Unrealized Depreciation					$	75,030	$	75,027	$	(3	)

Sold Contracts	Settlement Date	Counterparty	Currency Amount Sold			Value at Settlement Date			Value at July 31, 2019			Unrealized (Depreciation)
Swiss Franc	09/04/19	Morgan Stanley		(634,465	)	$	(642,524	)	$	(643,019	)	$	(495	)
Danish Krone	09/04/19	Morgan Stanley		(796,106	)		(119,020	)		(119,077	)		(57	)
Euro	09/04/19	Morgan Stanley		(1,966,381	)		(2,194,728	)		(2,195,748	)		(1,020	)
British Pound	09/04/19	Morgan Stanley		(981,449	)		(1,203,457	)		(1,203,856	)		(399	)
Swedish Krona	09/04/19	Morgan Stanley		(1,759,012	)		(183,824	)		(183,861	)		(37	)
Unrealized Depreciation						$	(4,343,553	)	$	(4,345,561	)	$	(2,008	)
Total Unrealized Depreciation												$	(2,011	)
Net Unrealized Appreciation (Depreciation)												$	123,529

As of July 31, 2019, there was no collateral segregated by the counterparty for forward foreign currency contracts.

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE Europe ETF (continued)

July 31, 2019 (unaudited)

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.

Asset Valuation Inputs
Description	Level 1		Level 2		Level 3		Total
Investments in Securities:(e)
Common Stocks
Australia	$	112,775	$	—	$	—	$	112,775
Austria		31,476		—		—		31,476
Belgium		158,315		—		—		158,315
Chile		3,944		—		—		3,944
Denmark		237,276		—		—		237,276
Finland		169,229		—		—		169,229
France		1,490,678		—		—		1,490,678
Germany		1,132,785		—		—		1,132,785
Ireland		73,883		—		—		73,883
Italy		312,286		—		—		312,286
Jordan		3,065		—		—		3,065
Kazakhstan		1,607		—		—		1,607
Luxembourg		27,909		—		—		27,909
Mexico		1,317		—		—		1,317
Netherlands		635,364		—		—		635,364
Norway		95,821		—		—		95,821
Poland		49,750		—		—		49,750
Portugal		20,248		—		—		20,248
Russia		10,018		—		—		10,018
South Africa		28,125		—		—		28,125
Spain		406,336		1,326		—		407,662
Sweden		366,794		—		—		366,794
Switzerland		1,334,905		—		—		1,334,905
United Arab Emirates		2,514		—		—		2,514
United Kingdom		1,996,792		—		—		1,996,792
United States		32,899		—		—		32,899
Total Common Stocks		8,736,111		1,326		—		8,737,437
Preferred Stocks
Germany		71,646		—		—		71,646
Spain		5,798		—		—		5,798
Total Preferred Stocks		77,444		—		—		77,444
Investment of Cash Collateral for Securities Loaned:
Money Market Fund		143,069		—		—		143,069
Total Investments in Securities		8,956,624		1,326		—		8,957,950
Other Financial Instruments:(f)
Forward Foreign Currency Contracts		—		125,540		—		125,540
Total Investments in Securities and Other Financial Instruments	$	8,956,624	$	126,866	$	—	$	9,083,490
Liability Valuation Inputs
Description	Level 1		Level 2		Level 3		Total
Other Financial Instruments:(f)
Forward Foreign Currency Contracts	$	—	$	2,011	$	—	$	2,011

(e)	For a complete listing of investments and their countries, see the Schedules of Investments.
(f)	Reflects the unrealized appreciation (depreciation) of the instruments.

For the period ended July 31, 2019, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE Europe ETF (continued)

July 31, 2019 (unaudited)

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:

Investments in Securities	Balance as of April 30, 2019		Accrued Discounts (Premiums)		Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Purchases		Sales			Transfers into Level 3		Transfers out of Level 3		Balance as of July 31, 2019		Change in Unrealized Appreciation (Depreciation) from Investments Still Held at July 31, 2019
Common Stocks
Rolls-Royce Holdings PLC — Entitlement	$	150	$	—	$	(5	)	$	(1	)	$	—	$	(144	)	$	—	$	—	$	—	$	—

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE Japan ETF

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks — 99.9%
Communication Services — 8.5%
Capcom Co., Ltd.		126	$	2,660
CyberAgent, Inc.		130		5,292
Daiichikosho Co., Ltd.		56		2,329
DeNA Co., Ltd.		151		2,900
Dentsu, Inc.		300		10,002
Fuji Media Holdings, Inc.		63		826
GungHo Online Entertainment, Inc.		51		1,354
Hakuhodo DY Holdings, Inc.		324		5,127
Kakaku.com, Inc.		180		3,773
KDDI Corp.		2,385		62,681
Koei Tecmo Holdings Co., Ltd.		83		1,607
Konami Holdings Corp.		130		5,556
LINE Corp.*		71		2,272
Nexon Co., Ltd.*		559		8,917
Nintendo Co., Ltd.		146		53,922
Nippon Telegraph & Telephone Corp.		879		39,847
Nippon Television Holdings, Inc.		35		485
NTT DOCOMO, Inc.		1,605		38,656
Shochiku Co., Ltd.		13		1,434
SKY Perfect JSAT Holdings, Inc.		166		659
Softbank Corp.		2,206		29,847
SoftBank Group Corp.		2,341		121,346
Square Enix Holdings Co., Ltd.		105		3,622
Toho Co., Ltd.		155		6,067
Tokyo Broadcasting System Holdings, Inc.		46		784
TV Asahi Holdings Corp.		27		446
Yahoo Japan Corp.		3,214		9,502
Total Communication Services				421,913
Consumer Discretionary — 18.4%
ABC-Mart, Inc.		36		2,288
Aisin Seiki Co., Ltd.		236		7,705
Aoyama Trading Co., Ltd.		61		1,143
Asics Corp.		243		2,628
ASKUL Corp.		26		653
Autobacs Seven Co., Ltd.		82		1,340
Bandai Namco Holdings, Inc.(a)		266		14,455
Benesse Holdings, Inc.		99		2,333
Bic Camera, Inc.		208		2,065
Bridgestone Corp.		818		30,889
Casio Computer Co., Ltd.		300		3,443
Denso Corp.		621		26,527
Exedy Corp.		42		864
Fast Retailing Co., Ltd.		70		42,261
Fujitsu General Ltd.		78		1,259
Goldwin, Inc.		24		3,333
H2O Retailing Corp.		116		1,321
Haseko Corp.		377		4,118
Heiwa Corp.		71		1,468
Hikari Tsushin, Inc.		30		6,662
HIS Co., Ltd.		44		1,082
Honda Motor Co., Ltd.		2,392		59,715
Iida Group Holdings Co., Ltd.		196		3,239
Isetan Mitsukoshi Holdings Ltd.		486		3,885
Isuzu Motors Ltd.		696		7,766
Izumi Co., Ltd.		55		2,077
J Front Retailing Co., Ltd.(a)		336		3,977
Koito Manufacturing Co., Ltd.		156		7,888
Komeri Co., Ltd.		37		766
K's Holdings Corp.		255		2,339
Kyoritsu Maintenance Co., Ltd.		33		1,433
Marui Group Co., Ltd.		284		6,178
Mazda Motor Corp.		780		7,752
Mitsubishi Motors Corp.		854		3,791
NGK Spark Plug Co., Ltd.		271		5,207
	Shares		Value
Common Stocks (continued)
Consumer Discretionary (continued)
NHK Spring Co., Ltd.		225	$	1,772
Nifco, Inc.		116		2,883
Nikon Corp.		475		6,466
Nissan Motor Co., Ltd.		2,637		17,263
Nissan Shatai Co., Ltd.		88		742
Nitori Holdings Co., Ltd.		101		13,702
NOK Corp.		158		2,341
Oriental Land Co., Ltd.		259		34,446
PALTAC Corp.		43		2,123
Pan Pacific International Holdings Corp.		174		11,154
Panasonic Corp.		2,913		24,809
Rakuten, Inc.		1,072		11,019
Resorttrust, Inc.		93		1,360
Rinnai Corp.		51		3,462
Ryohin Keikaku Co., Ltd.		32		5,727
Sankyo Co., Ltd.		70		2,424
Sanrio Co., Ltd.		82		1,665
Sega Sammy Holdings, Inc.		269		3,479
Sekisui Chemical Co., Ltd.		483		7,211
Sekisui House Ltd.(a)		790		13,355
Sharp Corp.		215		2,731
Shimachu Co., Ltd.		57		1,269
Shimamura Co., Ltd.		30		2,133
Shimano, Inc.		106		15,064
Skylark Holdings Co., Ltd.		260		4,564
Sony Corp.		1,718		97,629
Stanley Electric Co., Ltd.		199		4,963
Subaru Corp.		837		19,615
Sumitomo Electric Industries Ltd.		1,028		12,820
Sumitomo Forestry Co., Ltd.		185		2,334
Sumitomo Rubber Industries Ltd.		250		2,747
Suzuki Motor Corp.		590		23,198
Takashimaya Co., Ltd.		208		2,400
Tokai Rika Co., Ltd.		69		1,138
Toyo Tire Corp.		140		1,845
Toyoda Gosei Co., Ltd.		100		1,851
Toyota Boshoku Corp.		83		1,170
Toyota Industries Corp.		219		11,437
Toyota Motor Corp.		3,427		221,702
TS Tech Co., Ltd.		70		1,944
USS Co., Ltd.		291		5,808
Wacoal Holdings Corp.		78		1,904
Yamada Denki Co., Ltd.		985		4,364
Yamaha Corp.		216		10,265
Yamaha Motor Co., Ltd.		381		6,730
Yokohama Rubber Co., Ltd. (The)		146		2,704
Zensho Holdings Co., Ltd.		123		2,659
ZOZO, Inc.		237		4,503
Total Consumer Discretionary				912,744
Consumer Staples — 8.6%
Aeon Co., Ltd.(a)		951		16,572
Ain Holdings, Inc.		39		2,148
Ajinomoto Co., Inc.		668		12,040
Ariake Japan Co., Ltd.		25		1,561
Asahi Group Holdings Ltd.		520		22,677
Calbee, Inc.		102		2,903
Coca-Cola Bottlers Japan Holdings, Inc.		190		4,713
Cosmos Pharmaceutical Corp.		12		2,229
Ezaki Glico Co., Ltd.		72		3,143
FamilyMart UNY Holdings Co., Ltd.(a)		315		6,760
Fancl Corp.		92		2,332
Fuji Oil Holdings, Inc.		63		1,950
House Foods Group, Inc.		99		3,665
Ito En Ltd.		78		3,430

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE Japan ETF (continued)

July 31, 2019 (unaudited) 

	Shares		Value
Common Stocks (continued)
Consumer Staples (continued)
Itoham Yonekyu Holdings, Inc.		183	$	1,208
Japan Tobacco, Inc.		1,618		36,056
Kagome Co., Ltd.		107		2,498
Kao Corp.		653		47,988
Kewpie Corp.		146		3,327
Kikkoman Corp.		249		11,409
Kirin Holdings Co., Ltd.		1,101		24,033
Kobayashi Pharmaceutical Co., Ltd.		84		6,035
Kose Corp.		39		6,685
Kusuri no Aoki Holdings Co., Ltd.		22		1,469
Lawson, Inc.(a)		65		3,263
Lion Corp.		345		6,822
Maruha Nichiro Corp.		50		1,471
Matsumotokiyoshi Holdings Co., Ltd.		104		3,506
Megmilk Snow Brand Co., Ltd.		56		1,207
MEIJI Holdings Co., Ltd.		183		12,759
Mitsubishi Shokuhin Co., Ltd.		17		429
Morinaga & Co., Ltd.		54		2,551
Morinaga Milk Industry Co., Ltd.		56		2,189
NH Foods Ltd.		135		5,042
Nichirei Corp.		145		3,381
Nisshin Seifun Group, Inc.		350		6,657
Nissin Foods Holdings Co., Ltd.		94		5,879
Noevir Holdings Co., Ltd.		21		1,102
Pigeon Corp.(a)		147		5,443
Pola Orbis Holdings, Inc.		103		2,602
Sapporo Holdings Ltd.		87		1,976
Seven & i Holdings Co., Ltd.		1,059		36,362
Shiseido Co., Ltd.		533		39,498
Sugi Holdings Co., Ltd.		48		2,325
Sundrug Co., Ltd.		89		2,480
Suntory Beverage & Food Ltd.		171		6,827
Takara Holdings, Inc.		244		2,535
Toyo Suisan Kaisha Ltd.		123		4,979
Tsuruha Holdings, Inc.		49		5,023
Unicharm Corp.		528		15,066
Welcia Holdings Co., Ltd.		68		3,182
Yakult Honsha Co., Ltd.		167		9,490
Yamazaki Baking Co., Ltd.		171		2,618
Yaoko Co., Ltd.		29		1,338
Total Consumer Staples				424,833
Energy — 0.9%
Cosmo Energy Holdings Co., Ltd.		91		1,892
Idemitsu Kosan Co., Ltd.		326		9,068
Inpex Corp.		1,247		11,041
Japan Petroleum Exploration Co., Ltd.		41		901
JXTG Holdings, Inc.		4,225		20,028
Total Energy				42,930
Financials — 10.7%
77 Bank Ltd. (The)		99		1,418
Acom Co., Ltd.		535		1,902
AEON Financial Service Co., Ltd.(a)		161		2,616
Aiful Corp.*		401		824
Aozora Bank Ltd.		160		3,681
Aplus Financial Co., Ltd.*		126		85
Awa Bank Ltd. (The)		51		1,163
Bank of Kyoto Ltd. (The)		98		3,822
Chiba Bank Ltd. (The)		875		4,352
Chugoku Bank Ltd. (The)		233		2,041
Concordia Financial Group Ltd.		1,552		5,503
Credit Saison Co., Ltd.		225		2,758
Dai-ichi Life Holdings, Inc.		1,497		22,157
	Shares		Value
Common Stocks (continued)
Financials (continued)
Daishi Hokuetsu Financial Group, Inc.		58	$	1,552
Daiwa Securities Group, Inc.		2,106		9,145
Fukuoka Financial Group, Inc.		222		4,093
Fuyo General Lease Co., Ltd.		27		1,616
Gunma Bank Ltd. (The)		587		2,033
Hachijuni Bank Ltd. (The)		635		2,404
Hiroshima Bank Ltd. (The)		411		1,972
Hitachi Capital Corp.		57		1,179
Hokuhoku Financial Group, Inc.		178		1,792
Iyo Bank Ltd. (The)		380		1,855
Japan Exchange Group, Inc.		733		10,822
Japan Post Bank Co., Ltd.(a)		558		5,437
Japan Post Holdings Co., Ltd.		1,812		17,824
Japan Post Insurance Co., Ltd.		267		4,471
Kansai Mirai Financial Group, Inc.		254		1,719
Kyushu Financial Group, Inc.		527		2,009
Matsui Securities Co., Ltd.		143		1,195
Mebuki Financial Group, Inc.		1,409		3,491
Mitsubishi UFJ Financial Group, Inc.		17,140		82,752
Mitsubishi UFJ Lease & Finance Co., Ltd.		595		3,184
Mizuho Financial Group, Inc.		34,876		49,596
MS&AD Insurance Group Holdings, Inc.		672		22,164
Nishi-Nippon Financial Holdings, Inc.		214		1,520
Nomura Holdings, Inc.		4,478		14,171
North Pacific Bank Ltd.		387		866
Orient Corp.		778		917
ORIX Corp.		1,763		25,355
Resona Holdings, Inc.		2,980		12,197
San-In Godo Bank Ltd. (The)		211		1,281
SBI Holdings, Inc.		306		7,029
Seven Bank Ltd.		921		2,502
Shiga Bank Ltd. (The)		71		1,575
Shinsei Bank Ltd.		214		3,252
Shizuoka Bank Ltd. (The)		695		4,814
Sompo Holdings, Inc.		472		19,702
Sony Financial Holdings, Inc.		208		5,079
Sumitomo Mitsui Financial Group, Inc.		1,816		63,675
Sumitomo Mitsui Trust Holdings, Inc.		505		17,367
T&D Holdings, Inc.		760		8,582
Tokai Tokyo Financial Holdings, Inc.		312		954
Tokio Marine Holdings, Inc.		904		48,266
Tokyo Century Corp.		63		2,626
Yamaguchi Financial Group, Inc.		319		2,236
Zenkoku Hosho Co., Ltd.		68		2,671
Total Financials				531,264
Health Care — 9.1%
Alfresa Holdings Corp.		238		5,789
Asahi Intecc Co., Ltd.		256		6,767
Astellas Pharma, Inc.		2,581		36,929
Chugai Pharmaceutical Co., Ltd.		296		21,265
Daiichi Sankyo Co., Ltd.		873		53,445
Eisai Co., Ltd.		361		19,637
Hisamitsu Pharmaceutical Co., Inc.		97		3,935
Hoya Corp.		505		39,093
Kaken Pharmaceutical Co., Ltd.		46		2,250
Kissei Pharmaceutical Co., Ltd.		43		1,071
KYORIN Holdings, Inc.		53		897
Kyowa Hakko Kirin Co., Ltd.		340		5,646
M3, Inc.		578		11,797
Medipal Holdings Corp.		210		4,495
Miraca Holdings, Inc.		71		1,617
Mitsubishi Tanabe Pharma Corp.		301		3,429
Mochida Pharmaceutical Co., Ltd.		36		1,520
Nihon Kohden Corp.		103		2,844

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE Japan ETF (continued)

July 31, 2019 (unaudited)
 

	Shares		Value
Common Stocks (continued)
Health Care (continued)
Nippon Shinyaku Co., Ltd.		70	$	5,087
Nipro Corp.		160		1,787
Olympus Corp.		1,532		16,833
Ono Pharmaceutical Co., Ltd.		603		11,013
Otsuka Holdings Co., Ltd.		572		21,163
PeptiDream, Inc.*		115		6,472
Rohto Pharmaceutical Co., Ltd.		132		3,842
Santen Pharmaceutical Co., Ltd.		486		7,882
Sawai Pharmaceutical Co., Ltd.		54		3,004
Shionogi & Co., Ltd.		383		21,366
Sumitomo Dainippon Pharma Co., Ltd.		226		4,178
Suzuken Co., Ltd.		104		5,776
Sysmex Corp.		259		18,950
Taisho Pharmaceutical Holdings Co., Ltd.		58		4,450
Takara Bio, Inc.		63		1,251
Takeda Pharmaceutical Co., Ltd.		2,091		70,005
Terumo Corp.		889		26,054
Tsumura & Co.		91		2,523
Total Health Care				454,062
Industrials — 22.0%
AGC, Inc.		252		7,775
Aica Kogyo Co., Ltd.		73		2,125
Amada Holdings Co., Ltd.		434		4,829
ANA Holdings, Inc.		153		5,160
Benefit One, Inc.		82		1,415
Central Japan Railway Co.		248		50,068
COMSYS Holdings Corp.		156		3,964
Dai Nippon Printing Co., Ltd.		403		8,515
Daifuku Co., Ltd.		132		7,307
Daikin Industries Ltd.		364		45,544
DMG Mori Co., Ltd.		138		2,025
East Japan Railway Co.		499		45,982
Ebara Corp.		132		3,582
FANUC Corp.		267		48,027
Fuji Electric Co., Ltd.		171		5,300
Fujikura Ltd.		385		1,425
Fukuyama Transporting Co., Ltd.		45		1,712
Furukawa Electric Co., Ltd.		84		2,276
Glory Ltd.		73		1,944
GS Yuasa Corp.		108		2,036
Hankyu Hanshin Holdings, Inc.		301		10,632
Hino Motors Ltd.		365		2,948
Hitachi Construction Machinery Co., Ltd.		144		3,424
Hitachi Transport System Ltd.		58		1,822
Hoshizaki Corp.		71		5,048
IHI Corp.		177		4,248
ITOCHU Corp.		1,891		36,261
Japan Airlines Co., Ltd.		159		5,019
Japan Airport Terminal Co., Ltd.		63		2,628
Japan Steel Works Ltd. (The)		88		1,546
JGC Corp.		293		3,845
JTEKT Corp.		308		3,682
Kajima Corp.		625		8,105
Kamigumi Co., Ltd.		139		3,213
Kandenko Co., Ltd.		141		1,239
Kawasaki Heavy Industries Ltd.		199		4,362
Kawasaki Kisen Kaisha Ltd.*		116		1,494
Keihan Holdings Co., Ltd.		133		5,427
Keikyu Corp.		339		5,732
Keio Corp.		157		9,775
Keisei Electric Railway Co., Ltd.		190		7,026
Kinden Corp.		178		2,715
Kintetsu Group Holdings Co., Ltd.		245		11,689
Kokuyo Co., Ltd.		118		1,601
	Shares		Value
Common Stocks (continued)
Industrials (continued)
Komatsu Ltd.		1,256	$	28,290
Kubota Corp.		1,518		23,663
Kurita Water Industries Ltd.		149		3,799
Kyowa Exeo Corp.		140		3,387
Kyudenko Corp.		55		1,715
Kyushu Railway Co.		219		6,273
LIXIL Group Corp.		358		6,232
Mabuchi Motor Co., Ltd.		69		2,402
Maeda Corp.		186		1,405
Maeda Road Construction Co., Ltd.		79		1,687
Makita Corp.		333		11,026
Marubeni Corp.		2,137		13,974
MINEBEA MITSUMI, Inc.		568		9,840
MISUMI Group, Inc.		380		8,659
Mitsubishi Corp.		1,768		47,817
Mitsubishi Electric Corp.		2,713		35,794
Mitsubishi Heavy Industries Ltd.		390		16,193
Mitsubishi Logistics Corp.		92		2,460
Mitsui & Co., Ltd.		2,323		38,062
Mitsui OSK Lines Ltd.		150		3,712
Miura Co., Ltd.		133		3,712
MonotaRO Co., Ltd.		160		3,531
Nabtesco Corp.		159		4,336
Nagase & Co., Ltd.		153		2,248
Nagoya Railroad Co., Ltd.		266		7,362
Nankai Electric Railway Co., Ltd.		150		3,615
NGK Insulators Ltd.		362		5,441
Nidec Corp.		320		43,369
Nihon M&A Center, Inc.		174		4,731
Nippo Corp.		69		1,324
Nippon Express Co., Ltd.		98		5,560
Nippon Yusen K.K.		218		3,660
Nishi-Nippon Railroad Co., Ltd.		106		2,252
Nisshinbo Holdings, Inc.		194		1,526
NSK Ltd.		602		5,140
NTN Corp.		595		1,666
Obayashi Corp.		919		8,769
Odakyu Electric Railway Co., Ltd.		416		9,341
OKUMA Corp.		40		2,104
OSG Corp.		107		2,145
Park24 Co., Ltd.		152		3,330
Penta-Ocean Construction Co., Ltd.		398		1,943
Persol Holdings Co., Ltd.		230		5,628
Pilot Corp.		48		1,821
Recruit Holdings Co., Ltd.		1,642		56,228
Sankyu, Inc.		69		3,718
Sanwa Holdings Corp.		270		3,041
Secom Co., Ltd.		264		20,792
Seibu Holdings, Inc.		291		4,607
Seino Holdings Co., Ltd.		209		2,628
SG Holdings Co., Ltd.		289		7,684
Shima Seiki Manufacturing Ltd.		42		1,240
Shimizu Corp.		773		6,272
SHO-BOND Holdings Co., Ltd.		64		2,207
SMC Corp.		80		29,370
Sohgo Security Services Co., Ltd.		92		4,491
Sojitz Corp.		1,708		5,380
Sotetsu Holdings, Inc.		106		2,815
Sumitomo Corp.		1,531		22,893
Sumitomo Heavy Industries Ltd.		154		5,014
Tadano Ltd.		161		1,466
Taisei Corp.		283		9,826
TechnoPro Holdings, Inc.		49		2,807
THK Co., Ltd.		155		3,960
Tobu Railway Co., Ltd.		281		8,049

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE Japan ETF (continued)

July 31, 2019 (unaudited)
 

	Shares		Value
Common Stocks (continued)
Industrials (continued)
Toda Corp.		326	$	1,801
Tokyu Corp.		674		11,869
Toppan Printing Co., Ltd.		377		6,174
Toshiba Corp.		705		22,629
Toshiba Plant Systems & Services Corp.		51		859
TOTO Ltd.		197		7,956
Toyota Tsusho Corp.		304		8,876
Ushio, Inc.		159		2,044
West Japan Railway Co.		249		20,498
Yamato Holdings Co., Ltd.		486		9,595
Total Industrials				1,092,225
Information Technology — 10.9%
Advantest Corp.		272		10,697
Alps Alpine Co., Ltd.		275		5,066
Azbil Corp.		187		4,504
Brother Industries Ltd.		322		5,768
Canon Marketing Japan, Inc.		63		1,216
Canon, Inc.		1,412		38,631
Citizen Watch Co., Ltd.		380		1,907
Disco Corp.		38		7,080
FUJIFILM Holdings Corp.		494		23,573
Fujitsu Ltd.		262		20,615
GMO internet, Inc.		83		1,362
GMO Payment Gateway, Inc.		54		3,964
Hamamatsu Photonics K.K.		174		6,514
Hirose Electric Co., Ltd.		46		4,859
Hitachi High-Technologies Corp.		87		4,447
Hitachi Ltd.		1,270		45,525
Horiba Ltd.		53		2,880
Ibiden Co., Ltd.		151		2,719
Itochu Techno-Solutions Corp.		131		3,392
Japan Aviation Electronics Industry Ltd.		63		885
Keyence Corp.		124		72,099
Konica Minolta, Inc.		616		5,163
Kyocera Corp.		419		25,817
Murata Manufacturing Co., Ltd.		783		34,926
NEC Corp.		350		14,442
Nihon Unisys Ltd.		90		2,988
Nippon Electric Glass Co., Ltd.		111		2,510
Nomura Research Institute Ltd.		417		7,447
NS Solutions Corp.		45		1,529
NTT Data Corp.		860		11,366
OBIC Business Consultants Co., Ltd.		21		910
Obic Co., Ltd.		91		9,781
Omron Corp.		259		12,500
Oracle Corp. Japan		45		3,763
Otsuka Corp.		140		5,577
Renesas Electronics Corp.*		953		5,697
Ricoh Co., Ltd.		929		8,573
Rohm Co., Ltd.		119		8,406
SCREEN Holdings Co., Ltd.		53		2,919
SCSK Corp.		58		2,778
Seiko Epson Corp.		376		5,576
Shimadzu Corp.		367		8,917
SUMCO Corp.		318		4,247
Taiyo Yuden Co., Ltd.		172		3,468
TDK Corp.		163		12,716
TIS, Inc.		109		5,712
Tokyo Electron Ltd.		214		36,848
Topcon Corp.		147		1,738
Trend Micro, Inc.		158		6,934
Ulvac, Inc.(a)		68		2,881
Yaskawa Electric Corp.(a)		354		11,901
	Shares		Value
Common Stocks (continued)
Information Technology (continued)
Yokogawa Electric Corp.		331	$	5,984
Total Information Technology				541,717
Materials — 6.1%
Air Water, Inc.		211		3,473
Asahi Kasei Corp.		1,700		17,427
Daicel Corp.		385		3,284
Daido Steel Co., Ltd.		48		1,839
Denka Co., Ltd.		122		3,545
DIC Corp.		113		3,075
Dowa Holdings Co., Ltd.		64		2,039
FP Corp.		32		1,986
Fuji Seal International, Inc.		59		1,744
Hitachi Chemical Co., Ltd.		135		3,728
Hitachi Metals Ltd.		268		2,848
JFE Holdings, Inc.		701		9,346
JSR Corp.		253		4,215
Kaneka Corp.		78		2,920
Kansai Paint Co., Ltd.		264		5,242
Kobe Steel Ltd.		415		2,691
Kuraray Co., Ltd.		475		5,670
Lintec Corp.		70		1,483
Maruichi Steel Tube Ltd.		86		2,276
Mitsubishi Chemical Holdings Corp.		1,740		12,446
Mitsubishi Gas Chemical Co., Inc.		256		3,438
Mitsubishi Materials Corp.		170		4,705
Mitsui Chemicals, Inc.		237		5,475
Mitsui Mining & Smelting Co., Ltd.		76		1,772
Nippon Kayaku Co., Ltd.		228		2,696
Nippon Paint Holdings Co., Ltd.		211		9,241
Nippon Paper Industries Co., Ltd.		131		2,323
Nippon Shokubai Co., Ltd.		44		2,881
Nippon Steel Corp.		1,121		17,722
Nissan Chemical Corp.		187		8,241
Nitto Denko Corp.		212		10,524
NOF Corp.		93		3,349
Oji Holdings Corp.		1,203		6,271
Rengo Co., Ltd.		291		2,227
Shin-Etsu Chemical Co., Ltd.		547		56,199
Showa Denko K.K.		196		5,322
Sumitomo Bakelite Co., Ltd.		44		1,510
Sumitomo Chemical Co., Ltd.		2,060		9,487
Sumitomo Metal Mining Co., Ltd.		323		9,267
Sumitomo Osaka Cement Co., Ltd.		48		1,844
Taiheiyo Cement Corp.		163		4,616
Taiyo Nippon Sanso Corp.		197		4,066
Teijin Ltd.		251		4,372
Tokai Carbon Co., Ltd.		272		2,703
Tokuyama Corp.		95		2,211
Toray Industries, Inc.		2,070		14,354
Tosoh Corp.		388		5,478
Toyo Seikan Group Holdings Ltd.		207		3,640
Toyobo Co., Ltd.		122		1,532
Ube Industries Ltd.		138		2,897
Yamato Kogyo Co., Ltd.		47		1,230
Zeon Corp.		200		2,347
Total Materials				305,217
Real Estate — 2.8%
Aeon Mall Co., Ltd.		162		2,502
Daito Trust Construction Co., Ltd.		93		12,056
Daiwa House Industry Co., Ltd.		887		25,415
Hulic Co., Ltd.		485		4,190
Ichigo, Inc.		281		1,027

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE Japan ETF (continued)

July 31, 2019 (unaudited)
 

	Shares		Value
Common Stocks (continued)
Real Estate (continued)
Mitsubishi Estate Co., Ltd.		1,623	$	30,076
Mitsui Fudosan Co., Ltd.		1,284		29,228
Nomura Real Estate Holdings, Inc.		157		3,206
Open House Co., Ltd.		42		1,855
Relo Group, Inc.		140		3,741
Sumitomo Realty & Development Co., Ltd.		540		19,780
Tokyo Tatemono Co., Ltd.		271		3,187
Tokyu Fudosan Holdings Corp.		827		4,821
Total Real Estate				141,084
Utilities — 1.9%
Chubu Electric Power Co., Inc.		955		13,537
Chugoku Electric Power Co., Inc. (The)		393		4,919
Electric Power Development Co., Ltd.		225		5,071
Hokkaido Electric Power Co., Inc.		249		1,417
Hokuriku Electric Power Co.*		237		1,707
Kansai Electric Power Co., Inc. (The)		993		12,310
Kyushu Electric Power Co., Inc.		632		6,304
Nippon Gas Co., Ltd.		54		1,527
Osaka Gas Co., Ltd.		539		9,948
Shikoku Electric Power Co., Inc.		211		1,996
Toho Gas Co., Ltd.		122		4,669
Tohoku Electric Power Co., Inc.		644		6,471
Tokyo Electric Power Co., Holdings, Inc.*		2,127		10,285
Tokyo Gas Co., Ltd.		590		14,789
Total Utilities				94,950
Total Common Stocks
(Cost $5,044,479)				4,962,939
Investment of Cash Collateral For Securities Loaned — 0.5%
Money Market Fund — 0.5%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.26%(b)
(Cost $22,401)		22,401		22,401
Total Investments — 100.4%
(Cost $5,066,880)				4,985,340
Other Assets and Liabilities, Net —        (0.4)%				(15,117	)
Net Assets — 100.0%			$	4,970,223

1

*	Non-income producing securities.
(a)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $82,298; total market value of collateral held by the Fund was $88,488.  Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $66,087.
(b)	Reflects the 1-day yield at July 31, 2019.

1

See Notes to Schedules of Investments

Schedules of Investments ─ IQ 50 Percent Hedged FTSE Japan ETF (continued)

July 31, 2019 (unaudited)

Forward Foreign Currency Contracts Outstanding as of July 31, 2019:

Purchased Contracts	Settlement Date	Counterparty	Currency Amount Purchased		Value at Settlement Date		Value at July 31, 2019		Unrealized Appreciation
Japanese Yen	08/06/19	Merrill Lynch		265,975,743	$	2,450,391	$	2,450,818	$	427
Unrealized Appreciation					$	2,450,391	$	2,450,818	$	427

Sold Contracts	Settlement Date	Counterparty	Currency Amount Sold		Value at Settlement Date			Value at July 31, 2019			Unrealized Appreciation
Japanese Yen	08/06/19	Merrill Lynch		(265,975,743)	$	(2,475,178	)	$	(2,450,818	)	$	24,360
Unrealized Appreciation					$	(2,475,178	)	$	(2,450,818	)	$	24,360
Total Unrealized Appreciation											$	24,787

Sold Contracts	Settlement Date	Counterparty	Currency Amount Sold		Value at Settlement Date			Value at July 31, 2019			Unrealized (Depreciation)
Japanese Yen	09/04/19	Merrill Lynch		(269,425,546)	$	(2,487,192	)	$	(2,488,096	)	$	(904	)
Unrealized Depreciation					$	(2,487,192	)	$	(2,488,096	)	$	(904	)
Total Unrealized Depreciation											$	(904	)
Net Unrealized Appreciation (Depreciation)											$	23,883

As of July 31, 2019, there was no collateral segregated by the counterparty for forward foreign currency contracts.

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.

Asset Valuation Inputs
Description	Level 1		Level 2		Level 3		Total
Investments in Securities:(c)
Common Stocks	$	4,962,939	$	—	$	—	$	4,962,939
Investment of Cash Collateral for Securities Loaned:
Money Market Fund		22,401		—		—		22,401
Total Investments in Securities		4,985,340		—		—		4,985,340
Other Financial Instruments:(d)
Forward Foreign Currency Contracts		—		24,787		—		24,787
Total Investments in Securities and Other Financial Instruments	$	4,985,340	$	24,787	$	—	$	5,010,127
Liability Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Other Financial Instruments:(d)
Forward Foreign Currency Contracts	$	—	$	904	$	—	$	904

(c)	For a complete listing of investments and their industries, see the Schedules of Investments.
(d)	Reflects the unrealized appreciation (depreciation) of the instruments.

For the period ended July 31, 2019, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

See Notes to Schedules of Investments

Schedules of Investments ─ IQ Chaikin U.S. Small Cap ETF

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks — 99.9%
Basic Materials — 7.7%
AdvanSix, Inc.*		43,049	$	1,103,777
Arch Coal, Inc., Class A(a)		13,472		1,201,164
Commercial Metals Co.		72,005		1,260,808
Encore Wire Corp.		21,497		1,180,615
Innophos Holdings, Inc.		40,802		1,108,590
Insteel Industries, Inc.		58,791		1,147,013
Kraton Corp.*		38,221		1,172,238
Landec Corp.*(a)		100,149		1,118,664
Materion Corp.		21,552		1,339,026
Mueller Industries, Inc.		39,244		1,184,776
OMNOVA Solutions, Inc.*		175,193		1,743,170
Schnitzer Steel Industries, Inc., Class A		51,243		1,364,601
SunCoke Energy, Inc.*		144,858		1,099,472
Universal Forest Products, Inc.		41,148		1,663,614
Verso Corp., Class A*(a)		57,417		929,007
Warrior Met Coal, Inc.		46,718		1,155,803
ZAGG, Inc.*(a)		135,597		899,008
Total Basic Materials				20,671,346
Consumer Goods — 9.9%
ACCO Brands Corp.		143,677		1,405,161
Beazer Homes USA, Inc.*(a)		106,854		1,252,329
Central Garden & Pet Co., Class A*		52,895		1,457,257
Century Communities, Inc.*(a)		51,310		1,414,617
Dana, Inc.		69,329		1,158,487
Edgewell Personal Care Co.*		28,024		852,770
Fitbit, Inc., Class A*(a)		207,743		872,521
Fresh Del Monte Produce, Inc.		45,498		1,379,954
Herman Miller, Inc.		34,959		1,585,041
Hooker Furniture Corp.		42,662		889,503
Knoll, Inc.		65,037		1,577,147
M/I Homes, Inc.*		46,201		1,634,129
Meritor, Inc.*		60,438		1,494,632
Modine Manufacturing Co.*		88,667		1,216,511
REV Group, Inc.		112,317		1,636,459
Taylor Morrison Home Corp.*		69,288		1,560,366
Tower International, Inc.		58,482		1,801,246
Unifi, Inc.*		63,559		1,189,189
Universal Electronics, Inc.*		33,107		1,417,642
USANA Health Sciences, Inc.*		14,666		998,021
Total Consumer Goods				26,792,982
Consumer Services — 9.8%
Abercrombie & Fitch Co., Class A(a)		44,867		849,332
Bloomin' Brands, Inc.(a)		60,139		1,024,167
Career Education Corp.*		74,450		1,411,572
Carrols Restaurant Group, Inc.*		123,358		1,149,696
Central European Media Enterprises Ltd., Class A*		309,007		1,452,333
Envestnet, Inc.*		18,806		1,342,936
Gray Television, Inc.*		57,576		1,021,974
Group 1 Automotive, Inc.(a)		19,006		1,595,744
Houghton Mifflin Harcourt Co.*		169,168		989,633
J. Jill, Inc.(a)		224,021		479,405
JC Penney Co., Inc.*(a)		825,410		656,614
K12, Inc.*		36,035		1,075,645
Liberty TripAdvisor Holdings, Inc., Class A*		86,672		1,001,062
Lithia Motors, Inc., Class A		13,257		1,748,333
Marcus Corp. (The)		30,708		1,074,473
MarineMax, Inc.*(a)		64,189		991,078
Meredith Corp.		22,256		1,220,964
Nexstar Media Group, Inc., Class A		11,345		1,154,581
Office Depot, Inc.		338,806		691,164
Sinclair Broadcast Group, Inc., Class A		31,960		1,605,990
TEGNA, Inc.		87,222		1,324,902
Titan Machinery, Inc.*		79,040		1,639,290
	Shares		Value
Common Stocks (continued)
Consumer Services (continued)
Tribune Publishing Co.		122,344	$	1,011,785
Total Consumer Services				26,512,673
Financials — 25.2%
Alexander & Baldwin, Inc.		48,345		1,136,591
Altisource Portfolio Solutions SA*		51,961		1,091,181
Ashford Hospitality Trust, Inc.		258,919		701,671
B. Riley Financial, Inc.		74,391		1,403,014
Bancorp, Inc. (The)*		152,214		1,473,432
BBX Capital Corp.		207,743		895,372
Braemar Hotels & Resorts, Inc.		100,729		918,649
Byline Bancorp, Inc.*		66,552		1,271,809
Camden National Corp.		29,480		1,318,051
Capstead Mortgage Corp.		143,172		1,206,940
CBL & Associates Properties, Inc.(a)		793,460		833,133
CNO Financial Group, Inc.		76,009		1,285,312
Community Trust Bancorp, Inc.		29,956		1,266,839
CorePoint Lodging, Inc.		110,102		1,291,497
Cowen, Inc., Class A*(a)		84,874		1,490,387
Enova International, Inc.*		53,897		1,452,524
EZCORP, Inc., Class A*(a)		131,958		1,299,786
First Busey Corp.		50,403		1,362,393
First Commonwealth Financial Corp.		97,606		1,344,035
First Defiance Financial Corp.		42,793		1,229,015
First Financial Corp.		29,284		1,271,218
First Foundation, Inc.		90,629		1,363,060
First Midwest Bancorp, Inc.		60,108		1,300,136
Flagstar Bancorp, Inc.		37,362		1,288,242
Great Southern Bancorp, Inc.		23,696		1,420,812
Great Western Bancorp, Inc.		38,930		1,316,613
Heritage Insurance Holdings, Inc.		84,234		1,132,105
Hertz Global Holdings, Inc.*		81,496		1,264,818
Hilltop Holdings, Inc.		67,390		1,528,405
Independent Bank Corp.		57,203		1,243,593
INTL FCStone, Inc.*		31,728		1,293,868
iStar, Inc.(a)		146,068		1,928,098
Mercury General Corp.(a)		24,562		1,392,911
Meta Financial Group, Inc.(a)		62,493		1,929,159
National General Holdings Corp.		51,824		1,281,608
New Senior Investment Group, Inc.		225,664		1,608,984
Oppenheimer Holdings, Inc., Class A		47,267		1,377,360
Orchid Island Capital, Inc.		186,911		1,156,979
Outfront Media, Inc.		52,559		1,428,554
Pacific Premier Bancorp, Inc.		46,356		1,466,240
PennyMac Financial Services, Inc.		55,300		1,327,753
Peoples Bancorp, Inc.		39,715		1,287,163
Piper Jaffray Cos.		16,884		1,305,133
QCR Holdings, Inc.		36,259		1,387,269
Simmons First National Corp., Class A		50,240		1,293,680
South State Corp.		17,996		1,440,940
TriState Capital Holdings, Inc.*		60,200		1,264,200
United Community Financial Corp.		131,535		1,339,026
United Financial Bancorp, Inc.		85,701		1,228,952
Univest Financial Corp.		50,283		1,380,771
Veritex Holdings, Inc.		50,776		1,299,358
Walker & Dunlop, Inc.		24,158		1,409,378
Total Financials				68,228,017
Health Care — 2.8%
Akebia Therapeutics, Inc.*		150,165		629,191
Assertio Therapeutics, Inc.*(a)		242,576		832,036
Eagle Pharmaceuticals, Inc.*		24,358		1,336,280
Lannett Co., Inc.*(a)		156,269		1,104,822
Lantheus Holdings, Inc.*		50,240		1,136,429
Tivity Health, Inc.*(a)		70,034		1,222,093
Triple-S Management Corp., Class B*		56,651		1,358,491
Total Health Care				7,619,342

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Chaikin U.S. Small Cap ETF (continued)

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
Industrials — 31.0%
AAR Corp.		37,827	$	1,583,438
ABM Industries, Inc.		33,831		1,423,947
Alamo Group, Inc.		12,307		1,204,732
American Woodmark Corp.*		14,886		1,263,077
Anixter International, Inc.*		21,922		1,410,900
Astec Industries, Inc.		32,568		1,064,648
Atkore International Group, Inc.*		57,120		1,558,805
Atlas Air Worldwide Holdings, Inc.*		24,323		1,110,345
Barrett Business Services, Inc.		15,905		1,391,688
Benchmark Electronics, Inc.		46,853		1,267,842
Blue Bird Corp.*(a)		72,643		1,505,163
BMC Stock Holdings, Inc.*		69,598		1,471,998
Builders FirstSource, Inc.*		92,195		1,583,910
CBIZ, Inc.*		60,762		1,420,008
Core-Mark Holding Co., Inc.		33,126		1,239,906
Cornerstone Building Brands, Inc.*		199,656		1,161,998
CRA International, Inc.		24,333		1,056,539
CSG Systems International, Inc.		29,077		1,489,906
Daseke, Inc.*(a)		241,625		894,013
Ducommun, Inc.*		28,263		1,191,285
Echo Global Logistics, Inc.*		49,633		1,045,271
EnerSys		18,875		1,285,576
Federal Signal Corp.		47,323		1,474,111
GMS, Inc.*		81,339		1,830,941
Greif, Inc., Class A		29,813		1,042,263
Griffon Corp.		66,552		1,088,125
Hackett Group, Inc. (The)		77,843		1,278,182
Hawkins, Inc.		33,390		1,458,141
Heidrick & Struggles International, Inc.		32,090		953,073
Integer Holdings Corp.*		16,307		1,427,352
JELD-WEN Holding, Inc.*		69,639		1,525,791
Kelly Services, Inc., Class A		55,752		1,551,578
Kforce, Inc.		35,021		1,193,866
Kimball Electronics, Inc.*		79,395		1,262,381
Kimball International, Inc., Class B		86,974		1,508,129
Manitowoc Co., Inc. (The)*		74,944		1,345,245
ManTech International Corp., Class A		22,770		1,566,121
Methode Electronics, Inc.		42,731		1,279,793
MYR Group, Inc.*		35,511		1,282,657
Patrick Industries, Inc.*(a)		27,138		1,244,820
Perficient, Inc.*		44,901		1,534,267
Providence Service Corp. (The)*		18,462		1,029,072
Quanex Building Products Corp.		77,401		1,441,207
Resources Connection, Inc.		74,357		1,308,683
Rush Enterprises, Inc., Class A		29,414		1,107,731
Sanmina Corp.*		42,631		1,353,534
Silgan Holdings, Inc.		41,507		1,247,700
SP Plus Corp.*		36,046		1,244,668
Spartan Motors, Inc.		139,285		1,674,206
SPX Corp.*		35,350		1,233,715
Sterling Construction Co., Inc.*		98,229		1,229,827
SunPower Corp.*(a)		188,916		2,208,428
Sykes Enterprises, Inc.*		43,491		1,230,360
Titan International, Inc.		206,010		778,718
TrueBlue, Inc.*		52,021		1,028,455
TTEC Holdings, Inc.		33,948		1,592,840
TTM Technologies, Inc.*(a)		104,847		1,096,700
Tutor Perini Corp.*(a)		71,838		938,204
Universal Logistics Holdings, Inc.		62,493		1,230,487
Vectrus, Inc.*		46,255		1,870,552
Vishay Intertechnology, Inc.		66,589		1,132,013
Werner Enterprises, Inc.		40,468		1,341,514
Wesco Aircraft Holdings, Inc.*		139,919		1,473,347
YRC Worldwide, Inc.*(a)		183,833		599,296
Total Industrials				83,863,088
Oil & Gas — 0.4%
Select Energy Services, Inc., Class A*		102,317		1,040,564
	Shares		Value
Common Stocks (continued)
Technology — 12.6%
A10 Networks, Inc.*		173,462	$	1,314,842
Amkor Technology, Inc.*		144,010		1,329,212
Avaya Holdings Corp.*(a)		73,075		879,823
Calix, Inc.*		159,721		1,003,048
Carbonite, Inc.*(a)		49,571		888,808
ChannelAdvisor Corp.*		100,971		921,865
Computer Programs & Systems, Inc.		41,420		1,069,050
Comtech Telecommunications Corp.		52,966		1,576,268
Endurance International Group Holdings, Inc.*(a)		169,634		804,065
ePlus, Inc.*		13,887		1,054,023
Insight Enterprises, Inc.*		22,340		1,229,147
Limelight Networks, Inc.*		380,764		1,031,871
MagnaChip Semiconductor Corp.*(a)		166,200		1,836,510
MobileIron, Inc.*		224,839		1,551,389
Monotype Imaging Holdings, Inc.		61,832		1,234,785
Nanometrics, Inc.*		39,827		1,249,771
OneSpan, Inc.*		63,989		935,519
PC Connection, Inc.		33,541		1,097,126
Photronics, Inc.*		130,146		1,253,306
Presidio, Inc.		83,101		1,163,414
Progress Software Corp.		27,717		1,199,869
Rambus, Inc.*		117,686		1,466,368
Ribbon Communications, Inc.*		238,809		1,174,940
ScanSource, Inc.*		34,335		1,165,673
SMART Global Holdings, Inc.*		64,058		1,949,926
Tech Data Corp.*		12,007		1,216,790
Unisys Corp.*		105,390		1,305,782
Verint Systems, Inc.*		20,545		1,188,939
Total Technology				34,092,129
Utilities — 0.5%
Black Hills Corp.		16,607		1,314,444
Total Common Stocks
(Cost $277,616,563)				270,134,585
Short-Term Investment — 0.1%
Money Market Fund — 0.1%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 2.34%(b)
(Cost $216,224)		216,224		216,224
Investment of Cash Collateral For Securities Loaned — 1.6%
Money Market Fund — 1.6%
Dreyfus Government Cash Management Fund, Institutional Shares, 2.26%(b)
(Cost $4,210,158)		4,210,158		4,210,158
Total Investments — 101.6%
(Cost $282,042,945)				274,560,967
Other Assets and Liabilities, Net — (1.6)%				(4,239,036	)
Net Assets — 100.0%			$	270,321,931

*	Non-income producing securities.
(a)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $27,846,204; total market value of collateral held by the Fund was $28,455,060.  Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $24,244,902.
(b)	Reflects the 1-day yield at July 31, 2019.

See Notes to Schedules of Investments.

Schedules of Investments ─ IQ Chaikin U.S. Small Cap ETF (continued)

July 31, 2019 (unaudited)

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.

Asset Valuation Inputs
Description	Level 1		Level 2		Level 3		Total
Investments in Securities:(c)
Common Stocks	$	270,134,585	$	—	$	—	$	270,134,585
Short-Term Investment:
Money Market Fund		216,224		—		—		216,224
Investment of Cash Collateral for Securities Loaned:
Money Market Fund		4,210,158		—		—		4,210,158
Total Investments in Securities	$	274,560,967	$	—	$	—	$	274,560,967

(c) For a complete listing of investments and their industries, see the Schedules of Investments.

For the period ended July 31, 2019, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

See Notes to Schedules of Investments.

Schedules of Investments - IQ Chaikin U.S. Large Cap ETF

July 31, 2019 (unaudited)

	Shares		Value
Common Stocks — 99.9%
Basic Materials — 1.3%
DuPont de Nemours, Inc.		50,140	$	3,618,102
Consumer Goods — 5.8%
Archer-Daniels-Midland Co.		88,087		3,618,614
General Motors Co.		102,403		4,130,937
Kimberly-Clark Corp.		30,663		4,159,436
Philip Morris International, Inc.		42,982		3,593,725
Total Consumer Goods				15,502,712
Consumer Services — 10.6%
AutoZone, Inc.*		3,709		4,165,356
Carnival Corp.		74,905		3,537,763
CVS Health Corp.		70,446		3,935,818
Expedia Group, Inc.		31,926		4,237,857
McKesson Corp.		32,455		4,509,622
Starbucks Corp.		51,106		4,839,227
Walgreens Boots Alliance, Inc.		60,047		3,271,961
Total Consumer Services				28,497,604
Financials — 33.0%
Allstate Corp. (The)		40,340		4,332,516
Ameriprise Financial, Inc.		29,658		4,315,536
Bank of America Corp.		137,702		4,224,697
Bank of New York Mellon Corp. (The)		75,335		3,534,718
BB&T Corp.		81,650		4,207,424
Capital One Financial Corp.		46,507		4,298,177
Citigroup, Inc.		61,061		4,345,101
Citizens Financial Group, Inc.		116,898		4,355,619
Fifth Third Bancorp		150,642		4,472,561
Hartford Financial Services Group, Inc. (The)		76,411		4,403,566
KeyCorp		241,218		4,431,175
M&T Bank Corp.		24,196		3,974,193
MetLife, Inc.		89,246		4,410,537
Morgan Stanley		90,028		4,011,648
Northern Trust Corp.		42,022		4,118,156
PNC Financial Services Group, Inc. (The)		30,974		4,426,185
Progressive Corp. (The)		52,700		4,267,646
Prudential Financial, Inc.		41,350		4,189,169
Regions Financial Corp.		268,493		4,277,093
Synchrony Financial		119,097		4,273,200
Wells Fargo & Co.		78,626		3,806,285
Total Financials				88,675,202
Health Care — 16.3%
AbbVie, Inc.		47,142		3,140,600
Allergan PLC		25,948		4,164,654
Baxter International, Inc.		46,724		3,923,414
Biogen, Inc.*		16,072		3,822,243
Boston Scientific Corp.*		98,989		4,203,073
Centene Corp.*		71,547		3,726,883
Cigna Corp.		23,623		4,014,020
IDEXX Laboratories, Inc.*		16,991		4,792,312
Medtronic PLC		41,713		4,252,223
Thermo Fisher Scientific, Inc.		13,879		3,853,921
Zimmer Biomet Holdings, Inc.		29,751		4,020,253
Total Health Care				43,913,596
Industrials — 12.1%
Accenture PLC, Class A		21,584		4,156,647
Agilent Technologies, Inc.		47,265		3,280,664
Cummins, Inc.		24,065		3,946,660
Danaher Corp.		28,777		4,043,168
Fidelity National Information Services, Inc.(a)		33,591		4,476,001
Honeywell International, Inc.		23,906		4,122,829
TE Connectivity Ltd.		47,049		4,347,327
	Shares		Value
Common Stocks (continued)
Industrials (continued)
TransDigm Group, Inc.*		8,368	$	4,062,162
Total Industrials				32,435,458
Oil & Gas — 2.9%
Marathon Petroleum Corp.		63,478		3,579,524
Phillips 66		39,919		4,094,093
Total Oil & Gas				7,673,617
Technology — 14.8%
Applied Materials, Inc.		95,794		4,729,350
Broadcom, Inc.		12,634		3,663,734
Cognizant Technology Solutions Corp., Class A		52,438		3,415,811
DXC Technology Co.		59,076		3,294,669
HP, Inc.		195,532		4,113,993
Intel Corp.		70,748		3,576,311
Micron Technology, Inc.*		91,923		4,126,423
Microsoft Corp.		32,213		4,389,666
Motorola Solutions, Inc.		27,056		4,490,214
Oracle Corp.		70,735		3,982,380
Total Technology				39,782,551
Utilities — 3.1%
Duke Energy Corp.		42,213		3,660,712
Edison International		61,356		4,573,476
Total Utilities				8,234,188
Total Common Stocks
(Cost $271,969,314)				268,333,030
Short-Term Investment — 0.1%
Money Market Fund — 0.1%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 2.34%(b)
(Cost $234,538)		234,538		234,538
Total Investments — 100.0%
(Cost $272,203,852)				268,567,568
Other Assets and Liabilities, Net — 0.0%(c)				168,028
Net Assets — 100.0%			$	268,735,596

1

*	Non-income producing securities.
(a)	All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $4,319,432; total market value of collateral held consisted of  non-cash U.S. Treasury securities collateral having a value of $4,426,356.
(b)	Reflects the 1-day yield at July 31, 2019.
(c)	Less than 0.05%

1

See Notes to Schedules of Investments.

Schedules of Investments - IQ Chaikin U.S. Large Cap ETF (continued)

July 31, 2019 (unaudited)

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2019. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to Note 1 within the Notes to Schedules of Investments.

Asset Valuation Inputs
Description	Level 1		Level 2		Level 3		Total
Investments in Securities:(d)
Common Stocks	$	268,333,030	$	—	$	—	$	268,333,030
Short-Term Investment:
Money Market Fund		234,538		—		—		234,538
Total Investments in Securities	$	268,567,568	$	—	$	—	$	268,567,568

(d) For a complete listing of investments and their industries, see the Schedules of Investments.

For the period ended July 31, 2019, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy. (See Note 1)

See Notes to Schedules of Investments.

1.FAIR VALUE MEASUREMENT (unaudited)

Accounting Standards Codification ("ASC") Topic 820, Fair Value Measurements and Disclosures defines fair value, establishes a framework for measuring fair value in accordance with GAAP, and requires disclosure about fair value measurements. It also provides guidance on determining when there has been a significant decrease in the volume and level of activity for an asset or liability, when a transaction is not orderly, and how that information must be incorporated into fair value measurement. Under ASC 820, various inputs are used in determining the value of the Funds' investments. These inputs are summarized in the following hierarchy:

• Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Funds have the ability to access.

• Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

• Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Funds' own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. With respect to the valuation of Level 3 securities, the Advisor may employ a market-based valuation approach which may use related or comparable securities, recent transactions, market multiples, book values, and other relevant information to determine fair value. The Advisor may also use an income-based valuation approach in which anticipated future cash flows of the financial instrument are discounted to calculate fair value. The Advisor representatives meet regularly to review and discuss the appropriateness of such fair values using more current information such as, recent security news, recent market transactions, updated corporate action information and/or other macro or security specific events.

All other securities and investments for which market values are not readily available, including restricted securities, and those securities for which it is inappropriate to determine prices in accordance with the aforementioned procedures, are valued at fair value as determined in good faith under procedures adopted by the Board, although the actual calculations may be done by others. Factors considered in making this determination may include, but are not limited to, information obtained by contacting the issuer, analysts, or the appropriate stock exchange (for exchange-traded securities), analysis of the issuer's financial statements or other available documents and, if necessary, available information concerning other securities in similar circumstances.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The hierarchy classification of inputs used to value each Fund's investments at January 31, 2019 is disclosed at the end of each Fund's Schedule of Investments.

2. OTHER AFFILIATED PARTIES AND TRANSACTIONS (unaudited)

If a Fund owns more than 5% of the outstanding voting shares of another issuer, the issuer may be considered an affiliate. At July 31, 2019, affiliated transactions, if any, are listed at the end of each Fund's respective Schedule of Investments.