IndexIQ’s IQ Hedge Macro Tracker ETF marks fifth anniversary
IndexIQ’s IQ Hedge Macro Tracker ETF (MCRO) is celebrating its fifth anniversary.
MCRO was the first ETF to provide exposure to the risk-adjusted characteristics of the universe of hedge funds pursuing a macro strategy.
“We designed MCRO to be a low volatility vehicle offering investors downside mitigation during market declines while also allowing them to remain exposed to global equities,” says Adam Patti, chief executive officer at IndexIQ. “It’s a strategy that we thought was highly relevant when we introduced the fund and that is even more relevant today, with markets setting new highs. We’re very pleased to be marking MCRO’s fifth anniversary.”
MCRO seeks to replicate, before fees and expenses, the performance of the IQ Hedge Macro Index, part of the firm’s IQ Hedge family of investable benchmark hedge fund replication and alternative beta indexes. The index, which now has close to six years of live track record, attempts to replicate the risk-adjusted return characteristics of the universe of hedge funds pursuing a global macro strategy, which can often include international and emerging markets components, exposures which the index includes.
“The liquid alternatives product category continues to build momentum among investors of all types, including institutions, advisors and the retail community, and we’re very proud to have been in the space from the start,” says Patti. “Our family of hedge fund replication products has grown over the past several years to include a mutual fund, separate accounts and managed ETF portfolios in addition to our standalone ETF offerings, and we look forward to continuing to bring innovative solutions to market.”
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