IQ Hedge Multi-Strategy Tracker ETF (QAI) Alternatives
IQ Hedge Multi-Strategy Tracker ETF (QAI) belongs to the Long-Short category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with QAI. Use the tables to find lower-cost options, better risk-adjusted returns, or funds that fit a different role in your portfolio.
Cheapest Alternatives to QAI
QAI charges 0.79% annually. Among ETFs in the Long-Short category, these options have the lowest expense ratios among QAI alternatives.
| Symbol | Name | Expense Ratio | Inception | |
|---|---|---|---|---|
| Proshares Large Cap Core Plus | 0.45% | Jul 13, 2009 | QAI vs CSM | |
| Aptus International Enhanced Yield ETF | 0.45% | Jul 22, 2021 | QAI vs IDUB | |
| ProShares Long Online/Short Stores ETF | 0.65% | Nov 14, 2017 | QAI vs CLIX | |
| WisdomTree Inflation Plus Fund | 0.65% | Jun 18, 2025 | QAI vs WTIP | |
| Franklin Liberty Systematic Style Premia ETF | 0.65% | Dec 18, 2019 | QAI vs FLSP |
Best Risk-Adjusted Alternatives to QAI
Among ETFs in the Long-Short category, these options rank highest on PortfoliosLab's risk-adjusted score, which accounts for volatility, drawdown, and return consistency over a 1-year period.
| Symbol | Name | Risk / Return Rank | Inception | |
|---|---|---|---|---|
| Convergence Long/Short Equity ETF | 94 | Feb 22, 2022 | QAI vs CLSE | |
| Militia Long/Short Equity ETF | 92 | Jan 14, 2025 | QAI vs ORR | |
| First Trust Merger Arbitrage ETF | 84 | Feb 4, 2020 | QAI vs MARB | |
| AltShares Event-Driven ETF | 83 | Dec 31, 2014 | QAI vs EVNT | |
| Aptus International Enhanced Yield ETF | 79 | Jul 22, 2021 | QAI vs IDUB |
Top Performing QAI Alternatives (YTD)
QAI alternatives from the Long-Short category, sorted by year-to-date return.
| Symbol | Name | YTD Return | Inception | |
|---|---|---|---|---|
| Harbor Long-Short Equity ETF | 20.53% | Dec 4, 2023 | QAI vs LSEQ | |
| Leatherback Long/Short Alternative Yield ETF | 15.90% | Nov 16, 2020 | QAI vs LBAY | |
| WisdomTree Inflation Plus Fund | 12.54% | Jun 18, 2025 | QAI vs WTIP | |
| KFA Mount Lucas Index Strategy ETF | 8.67% | Dec 2, 2020 | QAI vs KMLM | |
| Militia Long/Short Equity ETF | 6.70% | Jan 14, 2025 | QAI vs ORR |
Lowest Volatility Alternatives to QAI
QAI alternatives from the Long-Short category, sorted by annualized volatility over the past year.
| Symbol | Name | Volatility 1Y | Inception | |
|---|---|---|---|---|
| First Trust Merger Arbitrage ETF | 5.36% | Feb 4, 2020 | QAI vs MARB | |
| ProShares Hedge Replication | 6.90% | Jul 12, 2011 | QAI vs HDG | |
| The Future Fund Long/Short ETF | 9.24% | Jun 20, 2023 | QAI vs FFLS | |
| KFA Mount Lucas Index Strategy ETF | 9.84% | Dec 2, 2020 | QAI vs KMLM | |
| AltShares Event-Driven ETF | 9.97% | Dec 31, 2014 | QAI vs EVNT |
Lowest Drawdown Alternatives to QAI
QAI alternatives from the Long-Short category, sorted by maximum drawdown over the past year.
| Symbol | Name | Max Drawdown 1Y | Inception | |
|---|---|---|---|---|
| First Trust Merger Arbitrage ETF | -2.43% | Feb 4, 2020 | QAI vs MARB | |
| AltShares Event-Driven ETF | -4.84% | Dec 31, 2014 | QAI vs EVNT | |
| ProShares Hedge Replication | -4.85% | Jul 12, 2011 | QAI vs HDG | |
| Efficient Market Portfolio Plus ETF | -5.98% | Dec 11, 2024 | QAI vs EMPB | |
| First Trust Long/Short Equity ETF | -6.17% | Sep 9, 2014 | QAI vs FTLS |
Other ETFs from New York Life
Most popular New York Life ETFs on PortfoliosLab, across asset classes.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | Inception | |
|---|---|---|---|---|---|---|
| IQ Merger Arbitrage ETF | Hedge Fund | 77 | 1.56% | Nov 17, 2009 | QAI vs MNA | |
| IQ 50 Percent Hedged FTSE International ETF | Foreign Large Cap Equities | 85 | 3.78% | Jul 22, 2015 | QAI vs HFXI | |
| IQ Candriam ESG International Equity ETF | Foreign Large Cap Equities | 65 | 0.46% | Dec 17, 2019 | QAI vs IQSI | |
| IQ Candriam ESG U.S. Equity ETF | Large Cap Growth Equities | 44 | -6.24% | Dec 17, 2019 | QAI vs IQSU | |
| IQ Ultra Short Duration ETF | Ultrashort Bond | — | — | Jul 31, 2019 | QAI vs ULTR | |
| IQ MacKay Municipal Insured ETF | Municipal Bonds | 48 | 0.02% | Oct 18, 2017 | QAI vs MMIN | |
| IQ MacKay Municipal Intermediate ETF | Municipal Bonds, Actively Managed | 62 | -0.05% | Oct 18, 2017 | QAI vs MMIT | |
| NYLI Winslow Focused Large Cap Growth ETF | Large Cap Growth Equities | 23 | -13.11% | Jun 23, 2022 | QAI vs IWFG |
Often Compared With QAI
What investors most often compare with QAI, based on PortfoliosLab usage data.
Compare QAI with Any Fund or Stock
Compare QAI with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.