This ETF, known as IQ S&P High Yield Low Volatility Bond ETF, seeks to replicate the returns of its chosen benchmark index. It achieves this by employing a "Representative Sampling" approach rather than holding every single component. The underlying index itself is composed of U.S. dollar-denominated speculative-grade corporate debt instruments, which are selected using a defined, quantitative methodology. The objective of this rules-based selection process is to identify holdings that, when viewed collectively, are projected to demonstrate reduced price volatility compared to the wider universe of U.S. dollar high-yield corporate bonds.