IndexIQ, a subsidiary of New York Life Investments, has expanded its ‘dual impact’ family of thematic equity strategies with the launch of three new ETFs on NYSE Arca.

Yie-Hsin Hung, CEO, New York Life Investment Management.
So-called dual impact thematic funds are designed for investors who wish to position their portfolios potential to do well while helping to have a positive impact on the environment, society, and beyond.
The new funds are the IQ Engender Equality ETF (EQUL US), the IQ Clean Oceans ETF (OCEN US), and the IQ Cleaner Transport ETF (CLNR US).
Each fund has been launched in alignment with the mission of a non-profit organization, and reflects initiatives, research and programmes of that organization.
The IQ Engender Equality ETF tracks the Solactive Equileap US Select Gender Equality Index and has been developed using analysis from Equileap, a provider of gender equality data. The fund is designed to offer investors exposure to US-listed companies that have demonstrated a commitment to gender equality. Contributions will be made to Girls Who Code.
The IQ Cleaner Transport ETF tracks the IQ Candriam Cleaner Transport Index and has been developed in alignment with the National Wildlife Federation, a conservation organization in the US. The fund provides exposure to select global companies that support the transition to more environmentally efficient transportation technologies, such as electric vehicles, bicycles, motor vehicle parts manufacturers, and multi-passenger transportation.
The IQ Clean Oceans ETF tracks the IQ Candriam Clean Oceans Index. It has been developed in alignment with Oceana, an international advocacy organization focused solely on ocean conservation. The fund offers exposure to global companies that help to protect and/or achieve a cleaner ocean through reduced pollution and increased resource efficiency.
OCEN and CLNR’s underlying indices were both designed in collaboration with Candriam, a fellow New York Life Investments company and a leader in ESG investing and indexing. EQUL’s index, meanwhile, was developed in collaboration with Solactive.
The funds join the IQ Healthy Hearts ETF (HART US), which launched earlier this year in alignment with the American Heart Association.
IndexIQ says the funds are well suited to serve as a thematic satellite position in an ESG portfolio or as a complement to an existing core equity portfolio by providing an ESG tilt.
New York Life Investments has committed to making a contribution to each non-profit equal to ten percent of the respective fund’s management fee.
Yie-Hsin Hung, CEO, New York Life Investment Management, said: “Today investors are demanding more when it comes to ESG investment approaches, and they’re demanding more from the companies in which they’re investing. Meeting these demands takes nothing short of a revolution in ESG investing, and that is exactly what we have sought to do with our Dual Impact suite.”
The funds each have total annual operating expenses, after waivers and reimbursements, of 0.45%.