• Page 1: New ETF listings
• Page 2: The complete list of ETFs (and ETNs) in registration

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LISTINGS

IndexIQ Debuts First ETF: QAI

The first exchange-traded fund designed to replicate hedge fund strategies, the IQ Hedge Multi-Strategy Tracker ETF (NYSE: QAI) from IndexIQ, launched on March 25.

If it's able to truly mimic popular fund of hedge funds, the new ETF could provide the first real challenge to a fee structure critics characterize as highly exorbitant: Most actively managed hedge funds charge annual expenses of 2% and tack on another 20% in performance fees.

But QAI, which will follow a benchmark launched by IndexIQ in March 2007, comes with a single-fee structure. That's an expense ratio of 0.75%, which will be assessed annually.

The benchmark for QAI resembles a fund-of-funds portfolio and includes six different types of hedge fund strategies. The idea is to capture the entire hedging universe rather than singling out one or two strategies. The ETF includes hedging strategies covering long-short; global macro; market neutral; event driven; fixed-income arbitrage and emerging markets.

QAI's index will be rebalanced monthly. Entering the launch, its benchmark was weighted as follows: emerging markets (2.83%); long-short (-16.67%); global macro (13.83%); and 33.33% each in event-driven, fixed-income arbitrage and market neutral.

Read the prospectus for QAI here.

FILINGS

Claymore ETF To Track S&P CTI

Claymore Securities has filed papers for a new ETF tracking the Standard & Poor's Commodity Trends Indicator, a momentum-based commodities index that aims to outperform the broader commodities market.

The index tracks 16 commodities futures contracts divided into six sectors: Energy, Industrial Metals, Precious Metals, Livestock, Grains and Softs. Rather than simply taking a long position in each commodity, however, the index takes either a long/short or long/flat approach based on momentum trends in each sector. The index will short all sectors except for Energy; if momentum is trending against Energy, the index will simply exclude the sector altogether.

The Elements platform already has an ETN tracking this index. The Elements S&P CTI Index ETN (NYSEArca: LSC) has more than $50 million in assets and has been trading since June 2008. Since that time, it has been by far the best-performing broad-based commodity product on the market, trading roughly flat since its launch, compared to 50%+ declines in the most popular broad-based commodity funds.

The question about the new Claymore product is whether investors will prefer the new ETF over the established ETN.

The fund will list on the NYSE Arca. Fees and expenses were not included in the filing.

Read the filing here.

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