IndexIQ said it will be cutting fees on one of its most successful ETFs, the IQ Hedge Multi-Strategy Tracker ETF (QAI), by some 22%. Effective Nov. 1, IndexIQ will waive some of its management fees, bringing QAI’s total cost—including acquired fund fees given that QAI is a fund of funds—to 0.76% from its current level of 0.98%. That’s $76 per $10,000 invested. The move comes less than two months after IndexIQ changed expense ratios on nearly half of its ETFs, some of which saw fees cut, others increased.