IndexIQ Active ETF Trust 485BPOS

Exhibit (h)(3)(a)

AMENDMENT TO EXPENSE LIMITATION AGREEMENT

This amendment to the Expense Limitation Agreement dated as of June 29, 2022 (the “Agreement”), by and between IndexIQ Active ETF Trust, a Delaware statutory trust (the “Trust”), on behalf of its series as set forth on Schedule A (each, a “Fund” and, collectively, the “Funds”), and IndexIQ Advisors LLC, a Delaware limited liability company (the “Advisor”) is effective as of May 1, 2024.

WHEREAS, the Advisor and the Trust desire to amend Schedule A of the Agreement to reflect the reflect the addition of IQ MacKay Securitized Income ETF; a series of the Trust, to the Agreement.

NOW, THEREFORE, the parties agree that Schedule A of the Agreement is hereby amended and restated in the form of Schedule A attached hereto.

This Amendment, the Agreement, and the attachments to this Amendment constitute the entire agreement between the parties and supersede all prior agreements and understandings between them relating to the subject matter hereof. No modification of the Agreement or this Amendment should be binding on either party unless it is in writing and signed on behalf of each party by a duly authorized representative. This Amendment may be executed in counterparts, each of which shall be deemed to be an original and each of which, taken together, shall be deemed to constitute one and the same instrument.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized officers effective as of the date set forth above.

SCHEDULE A

To

EXPENSE LIMITATION AGREEMENT

(As of May 1, 2024)

Funds and Operating Expense Limits