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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ALFAX or QAI.
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.
Performance
ALFAX vs. QAI - Performance Comparison
Key characteristics
ALFAX:
-0.02
QAI:
0.61
ALFAX:
0.11
QAI:
0.86
ALFAX:
1.01
QAI:
1.12
ALFAX:
-0.02
QAI:
0.56
ALFAX:
-0.06
QAI:
2.35
ALFAX:
8.26%
QAI:
1.85%
ALFAX:
21.01%
QAI:
7.33%
ALFAX:
-62.76%
QAI:
-14.95%
ALFAX:
-23.52%
QAI:
-2.51%
Returns By Period
In the year-to-date period, ALFAX achieves a -6.62% return, which is significantly lower than QAI's 0.16% return. Over the past 10 years, ALFAX has underperformed QAI with an annualized return of -2.07%, while QAI has yielded a comparatively higher 1.99% annualized return.
ALFAX
-6.62%
15.75%
-12.21%
-0.43%
5.87%
-2.07%
QAI
0.16%
5.71%
-0.71%
4.41%
3.47%
1.99%
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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.
Risk-Adjusted Performance
ALFAX vs. QAI — Risk-Adjusted Performance Rank
ALFAX
QAI
ALFAX vs. QAI - Risk-Adjusted Performance 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.
Dividends
ALFAX vs. QAI - Dividend Comparison
ALFAX's dividend yield for the trailing twelve months is around 0.11%, less than QAI's 2.22% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALFAX Lord Abbett Alpha Strategy Fund | 0.11% | 0.10% | 0.08% | 0.36% | 1.45% | 1.38% | 0.00% | 1.27% | 0.00% | 0.00% | 0.73% | 1.63% |
QAI IQ Hedge Multi-Strategy Tracker ETF | 2.22% | 2.22% | 4.08% | 2.00% | 0.28% | 1.98% | 1.91% | 1.90% | 0.00% | 0.00% | 0.48% | 1.34% |
Drawdowns
ALFAX vs. QAI - Drawdown Comparison
The maximum ALFAX drawdown since its inception was -62.76%, 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. For additional features, visit the drawdowns tool.
Volatility
ALFAX vs. QAI - Volatility Comparison
Lord Abbett Alpha Strategy Fund (ALFAX) has a higher volatility of 9.72% compared to IQ Hedge Multi-Strategy Tracker ETF (QAI) at 3.76%. 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.