ALFAX vs. QAI
Compare and contrast key facts about Lord Abbett Alpha Strategy Fund (ALFAX) and IQ Hedge Multi-Strategy Tracker ETF (QAI).
ALFAX is managed by Lord Abbett. It was launched on Mar 18, 1998. QAI is a passively managed fund by New York Life that tracks the performance of the IQ Hedge Multi-Strategy Index. It was launched on Mar 25, 2009.
Performance
ALFAX vs. QAI - Performance Comparison
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ALFAX vs. QAI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALFAX Lord Abbett Alpha Strategy Fund | -2.53% | 8.80% | 13.18% | 13.92% | -23.50% | 15.01% | 26.16% | 24.95% | -9.72% | 20.61% |
QAI IQ Hedge Multi-Strategy Tracker ETF | 1.82% | 8.29% | 6.67% | 10.07% | -8.68% | -0.16% | 5.73% | 8.68% | -3.32% | 6.17% |
Returns By Period
In the year-to-date period, ALFAX achieves a -2.53% return, which is significantly lower than QAI's 1.82% return. Over the past 10 years, ALFAX has outperformed QAI with an annualized return of 8.73%, while QAI has yielded a comparatively lower 3.30% annualized return.
ALFAX
- 1D
- -1.32%
- 1M
- -9.32%
- YTD
- -2.53%
- 6M
- -1.61%
- 1Y
- 16.40%
- 3Y*
- 8.86%
- 5Y*
- 1.80%
- 10Y*
- 8.73%
QAI
- 1D
- 1.25%
- 1M
- -2.23%
- YTD
- 1.82%
- 6M
- 2.98%
- 1Y
- 10.61%
- 3Y*
- 8.05%
- 5Y*
- 3.40%
- 10Y*
- 3.30%
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ALFAX vs. QAI - Expense Ratio Comparison
ALFAX has a 1.40% expense ratio, which is higher than QAI's 0.79% expense ratio.
Return for Risk
ALFAX vs. QAI — Risk / Return Rank
ALFAX
QAI
ALFAX vs. QAI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lord Abbett Alpha Strategy Fund (ALFAX) and IQ Hedge Multi-Strategy Tracker ETF (QAI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| ALFAX | QAI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.80 | 1.41 | -0.61 |
Sortino ratioReturn per unit of downside risk | 1.23 | 1.99 | -0.76 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.31 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | 1.07 | 1.93 | -0.86 |
Martin ratioReturn relative to average drawdown | 4.45 | 8.93 | -4.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ALFAX | QAI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.80 | 1.41 | -0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | 0.53 | -0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.54 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.51 | -0.12 |
Correlation
The correlation between ALFAX and QAI is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
ALFAX vs. QAI - Dividend Comparison
ALFAX's dividend yield for the trailing twelve months is around 5.44%, more than QAI's 1.48% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALFAX Lord Abbett Alpha Strategy Fund | 5.44% | 5.30% | 0.80% | 0.46% | 6.94% | 5.38% | 7.99% | 14.66% | 16.61% | 11.96% | 11.85% | 15.83% |
QAI IQ Hedge Multi-Strategy Tracker ETF | 1.48% | 1.50% | 2.22% | 4.08% | 2.00% | 0.28% | 1.98% | 1.91% | 1.90% | 0.00% | 0.00% | 0.48% |
Drawdowns
ALFAX vs. QAI - Drawdown Comparison
The maximum ALFAX drawdown since its inception was -57.11%, which is greater than QAI's maximum drawdown of -14.95%. Use the drawdown chart below to compare losses from any high point for ALFAX and QAI.
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Drawdown Indicators
| ALFAX | QAI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.11% | -14.95% | -42.16% |
Max Drawdown (1Y)Largest decline over 1 year | -13.07% | -5.43% | -7.64% |
Max Drawdown (5Y)Largest decline over 5 years | -33.88% | -14.32% | -19.56% |
Max Drawdown (10Y)Largest decline over 10 years | -40.29% | -14.95% | -25.34% |
Current DrawdownCurrent decline from peak | -10.31% | -2.51% | -7.80% |
Average DrawdownAverage peak-to-trough decline | -12.94% | -2.60% | -10.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.13% | 1.17% | +1.96% |
Volatility
ALFAX vs. QAI - Volatility Comparison
Lord Abbett Alpha Strategy Fund (ALFAX) has a higher volatility of 6.61% compared to IQ Hedge Multi-Strategy Tracker ETF (QAI) at 2.83%. This indicates that ALFAX's price experiences larger fluctuations and is considered to be riskier than QAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALFAX | QAI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.61% | 2.83% | +3.78% |
Volatility (6M)Calculated over the trailing 6-month period | 12.41% | 4.95% | +7.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.01% | 7.55% | +12.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.76% | 6.51% | +13.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.59% | 6.12% | +14.47% |