I've been tracking QAI since it was launched and it's held its own thus far - key is to see how it performs during major volatility. Still too early to consider even as a trade for me, but it's one worth watching as a 'spec' IMHO. http://seekingalpha.com/instablog/278228-geoffrey-ching/421-indexiq-files-for-15-hedge-fund-etfs IndexIQ has filed for 15 new hedge fund ETFs. A couple weeks ago, their ETF, IQ Hedge Multi-Strategy Tracker ETF, started trading. Because of its longer-term focus, it has not had very high volume. Still, it has had more volume than many other ETFs had shortly after trading started. I do not expect any of these new ETFs to have any higher volume. You can read the prospectus here. Here is a list of the ETFs IndexIQ filed for. * IQ CPI Inflation Tracker ETF * IQ Hedge Equal Weight Multi-Strategy Tracker ETF * IQ Hedge Asset Weight Multi-Strategy Tracker ETF * IQ Hedge Inverse Multi-Strategy Tracker ETF * IQ Hedge Distressed Tracker ETF * IQ Hedge Convertible Arbitrage Tracker ETF * IQ Hedge Dedicated Short Bias Tracker ETF * IQ Hedge Managed Futures Tracker ETF * IQ Hedge Market Directional Tracker ETF * IQ Hedge Absolute Return Tracker ETF * IQ Hedge Relative Value Tracker ETF * IQ ARB Merger Arbitrage ETF * IQ ARB Global Natural Resources ETF * IQ ARB Global Real Estate ETF * IQ ARB Global Infrastructure ETF