Market Overview

IndexIQ Merger Arbitrage ETF (MNA) Hits $1 Billion Mark

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Fund is the second IndexIQ ETF to cross the $1 billion mark; has
built nearly decade-long track record of providing investors with risk
mitigation, volatility dampening and exposure to market upside

IndexIQ,
a New York Life Investments Company and a leading provider of innovative
investment solutions, proudly announces that the IQ
Merger Arbitrage ETF (MNA)
has surpassed $1 billion in assets under
management (AUM).

"When we launched MNA nearly a decade ago, we knew we were breaking new
ground for ETF investors. To that point, there were no low cost, liquid,
transparent means through which to add merger arbitrage exposure to a
portfolio. That meant investors were missing the opportunity to add the
risk mitigation and volatility dampening aspects that merger arb can
provide," said Sal Bruno, chief investment officer of IndexIQ.

"Merger arbitrage strategies have historically generated relatively
stable returns, and global M&A activity remains robust. With global
growth, Brexit and trade driving volatility into the markets, and in an
uncertain interest rate environment, investors are looking for solutions
to help them maintain market exposure while still managing downside
participation."

MNA joins IQ
Hedge Multi-Strategy ETF (QAI)
, another IndexIQ ETF, as only the
second liquid alternative ETF in the industry to have passed the $1
billion threshold.

"IndexIQ was founded with the belief that investment management needed
to be democratized, allowing investors and advisors of all types to
access institutional-quality strategies," added Jon Zimmerman, chief
operating officer of IndexIQ. "It was a radical idea at the time, but
we're proud of the response that our family of ETFs has generated over
the past 10 years, and we're just as excited to continue to bring
innovative new approaches to the marketplace."

MNA has recently been awarded the 2019 Mutual Fund and ETF Industry
Award for the "Best Alternative ETF of the Year."

About MNA

MNA seeks to track, before fees and expenses, the performance of the IQ
Merger Arbitrage Index. The Index seeks to achieve capital appreciation
by investing in global companies for which there has been a public
announcement of a takeover by an acquirer. This differentiated approach
is based on a passive strategy of owning certain announced takeover
targets, with the goal of generating returns that are representative of
global merger arbitrage activity. The Index also includes short exposure
to global equities as a partial equity market hedge.

About IndexIQ

IndexIQ, a New York Life Investments company, is a global provider of
exchange-traded funds (ETFs), with a decade of offering highly
differentiated and innovative long-term solutions to retail and
institutional investors. Today, with assets under management of $4.1
billion, IndexIQ leverages the first-class asset management capabilities
of New York Life Investments' multi-boutique platform into its suite of
offerings which include: fixed income, equities, alternatives and
specialty asset classes.

For additional information on IndexIQ, visit IQetfs.com
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* Fund Intelligence Mutual Fund and ETF Industry Award Methodology: Fund
Intelligence's mix of independent judges, including a range of investors
such as ETF strategists, based their decisions on performance, product
innovation and sales success through the year. Learn more at
mutualfundindustryawards.com.

About Risk

There are risks involved with investing in any such products, including
the possible loss of principal. Investors in the Funds should be willing
to accept a high degree of volatility and the possibility of significant
losses. Alternative investments are speculative, entail substantial risk
and are not suitable for all clients. Alternative investments are
intended for experienced and sophisticated investors who are willing to
bear the high economic risks of the investment. Investments in
absolute-return strategies are not intended to outperform stocks and
bonds during strong market rallies. Hedge funds and hedge fund of funds
can be highly volatile, carry substantial fees, and involve complex tax
structures. Investments in these types of funds involve a high degree of
risk, including loss of entire capital. Investments in derivatives often
involve leverage, which may increase the volatility of the investment
and may result in a loss. As with all investments, there are certain
risks of investing in the Fund. The Fund's Shares will change in value
and you could lose money by investing in the Fund. An investment in the
Fund does not represent a complete investment program.

Consider the Funds' investment objectives, risks, charges and
expenses carefully before investing. The prospectus and the statement of
additional information include this and other relevant information about
the Funds and are available by visiting IQetfs.com or calling (888)
474-7725. Read the prospectus carefully before investing.

New York Life Investments is a service mark and name under which New
York Life Investment Management LLC does business. New York Life
Investments, an indirect subsidiary of New York Life Insurance Company,
located at 51 Madison Avenue, New York, New York 10010, provides
investment advisory products and services. IndexIQ® is an
indirect wholly owned subsidiary of New York Life Investment Management
Holdings LLC and serves as the advisor to the IndexIQ ETFs. ALPS
Distributors, Inc. (ALPS) is the principal underwriter of the ETFs.
NYLIFE Distributors LLC is a distributor of the ETFs. NYLIFE
Distributors LLC is located at 30 Hudson Street, Jersey City, NJ 07302.
ALPS Distributors, Inc. is not affiliated with NYLIFE Distributors LLC.
NYLIFE Distributors LLC is a Member FINRA/SIPC.

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