ALTS vs. QAI

Last updated Apr 1, 2026

Compare and contrast key facts about ALT5 Sigma Corporation (ALTS) and IQ Hedge Multi-Strategy Tracker ETF (QAI).

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

ALTS vs. QAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALT5 Sigma Corporation (ALTS) and IQ Hedge Multi-Strategy Tracker ETF (QAI). The values are adjusted to include any dividend payments, if applicable.

ALTS vs. QAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ALTS ALT5 Sigma Corporation	0.91%	-76.34%	737.84%	-59.49%	-66.50%	-16.36%	65.20%	33.18%	-57.26%	-7.14%
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, ALTS achieves a 0.91% return, which is significantly lower than QAI's 1.82% return. Over the past 10 years, ALTS has underperformed QAI with an annualized return of -15.31%, while QAI has yielded a comparatively higher 3.30% annualized return.

ALTS

• 1D: -0.89%
• 1M: -20.14%
• YTD: 0.91%
• 6M: -58.74%
• 1Y: -71.39%
• 3Y*: -0.89%
• 5Y*: -33.91%
• 10Y*: -15.31%

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

ALTS vs. QAI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ALTS

ALTS Risk / Return Rank: 18
ALTS Sharpe Ratio Rank: 17
ALTS Sortino Ratio Rank: 19
ALTS Omega Ratio Rank: 21
ALTS Calmar Ratio Rank: 11
ALTS Martin Ratio Rank: 19

QAI

QAI Risk / Return Rank: 80
QAI Sharpe Ratio Rank: 79
QAI Sortino Ratio Rank: 80
QAI Omega Ratio Rank: 82
QAI Calmar Ratio Rank: 76
QAI Martin Ratio Rank: 83

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ALTS vs. QAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALT5 Sigma Corporation (ALTS) 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.

	ALTS	QAI	Difference
Sharpe ratio Return per unit of total volatility	-0.55	1.41	-1.96
Sortino ratio Return per unit of downside risk	-0.48	1.99	-2.46
Omega ratio Gain probability vs. loss probability	0.95	1.31	-0.36
Calmar ratio Return relative to maximum drawdown	-0.82	1.93	-2.75
Martin ratio Return relative to average drawdown	-1.17	8.93	-10.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ALTS vs. QAI - Sharpe Ratio Comparison

The current ALTS Sharpe Ratio is -0.55, which is lower than the QAI Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of ALTS and QAI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ALTS	QAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	1.41	-1.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.28	0.53	-0.80
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.13	0.54	-0.67
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	0.51	-0.62

Correlation

The correlation between ALTS and QAI is 0.19, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ALTS vs. QAI - Dividend Comparison

ALTS has not paid dividends to shareholders, while QAI's dividend yield for the trailing twelve months is around 1.48%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALTS ALT5 Sigma Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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

ALTS vs. QAI - Drawdown Comparison

The maximum ALTS drawdown since its inception was -99.92%, which is greater than QAI's maximum drawdown of -14.95%. Use the drawdown chart below to compare losses from any high point for ALTS and QAI.

Drawdown Indicators

	ALTS	QAI	Difference
Max Drawdown Largest peak-to-trough decline	-99.92%	-14.95%	-84.97%
Max Drawdown (1Y) Largest decline over 1 year	-89.27%	-5.43%	-83.84%
Max Drawdown (5Y) Largest decline over 5 years	-96.83%	-14.32%	-82.51%
Max Drawdown (10Y) Largest decline over 10 years	-97.69%	-14.95%	-82.74%
Current Drawdown Current decline from peak	-99.71%	-2.51%	-97.20%
Average Drawdown Average peak-to-trough decline	-89.66%	-2.60%	-87.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	62.68%	1.17%	+61.51%

Volatility

ALTS vs. QAI - Volatility Comparison

ALT5 Sigma Corporation (ALTS) has a higher volatility of 19.01% compared to IQ Hedge Multi-Strategy Tracker ETF (QAI) at 2.83%. This indicates that ALTS'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.

Volatility by Period

	ALTS	QAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.01%	2.83%	+16.18%
Volatility (6M) Calculated over the trailing 6-month period	83.96%	4.95%	+79.01%
Volatility (1Y) Calculated over the trailing 1-year period	130.07%	7.55%	+122.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	122.17%	6.51%	+115.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	121.54%	6.12%	+115.42%