BRLN vs. QAI
BRLN (BlackRock Floating Rate Loan ETF) and QAI (IQ Hedge Multi-Strategy Tracker ETF) are both exchange-traded funds - BRLN is a Bank Loan fund actively managed by BlackRock, while QAI is a Long-Short fund tracking the IQ Hedge Multi-Strategy Index. BRLN is actively managed, while QAI is passively managed. Over the past 3 years, BRLN returned 7.18%/yr vs 9.67%/yr for QAI. At a 0.19 correlation, their price movements are largely independent. BRLN charges 0.55%/yr vs 0.79%/yr for QAI.
Performance
BRLN vs. QAI - Performance Comparison
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Returns By Period
In the year-to-date period, BRLN achieves a 1.14% return, which is significantly lower than QAI's 7.58% return.
BRLN
- 1D
- 0.35%
- 1M
- 0.60%
- YTD
- 1.14%
- 6M
- 1.72%
- 1Y
- 4.81%
- 3Y*
- 7.18%
- 5Y*
- —
- 10Y*
- —
QAI
- 1D
- 0.42%
- 1M
- -0.22%
- YTD
- 7.58%
- 6M
- 8.00%
- 1Y
- 14.10%
- 3Y*
- 9.67%
- 5Y*
- 4.31%
- 10Y*
- 3.79%
BRLN vs. QAI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BRLN BlackRock Floating Rate Loan ETF | 1.14% | 5.38% | 7.49% | 13.42% | 2.13% |
QAI IQ Hedge Multi-Strategy Tracker ETF | 7.58% | 8.29% | 6.67% | 10.07% | 2.44% |
Correlation
The correlation between BRLN and QAI is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 7, 2022 | 0.19 |
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Return for Risk
BRLN vs. QAI — Risk / Return Rank
BRLN
QAI
BRLN vs. QAI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Floating Rate Loan ETF (BRLN) 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.
| BRLN | QAI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.45 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 3.81 | -1.40 |
| Martin ratioReturn relative to average drawdown | 9.32 | 15.45 | -6.13 |
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
| BRLN | QAI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 2.26 | -0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.66 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.61 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.16 | 0.56 | +1.60 |
Drawdowns
BRLN vs. QAI - Drawdown Comparison
The maximum BRLN drawdown since its inception was -3.85%, smaller than the maximum QAI drawdown of -14.95%. Use the drawdown chart below to compare losses from any high point for BRLN and QAI.
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Drawdown Indicators
| BRLN | QAI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.85% | -14.95% | +11.10% |
Max Drawdown (1Y)Largest decline over 1 year | -2.00% | -3.71% | +1.71% |
Max Drawdown (3Y)Largest decline over 3 years | -3.85% | -7.78% | +3.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.32% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.95% | — |
Current DrawdownCurrent decline from peak | -0.42% | -1.72% | +1.30% |
Average DrawdownAverage peak-to-trough decline | -0.31% | -2.57% | +2.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 0.91% | -0.39% |
Volatility
BRLN vs. QAI - Volatility Comparison
The current volatility for BlackRock Floating Rate Loan ETF (BRLN) is 1.11%, while IQ Hedge Multi-Strategy Tracker ETF (QAI) has a volatility of 2.56%. This indicates that BRLN experiences smaller price fluctuations and is considered to be less risky 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
| BRLN | QAI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.11% | 2.56% | -1.45% |
Volatility (6M)Calculated over the trailing 6-month period | 2.34% | 5.25% | -2.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.14% | 6.26% | -3.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.74% | 6.60% | -2.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.74% | 6.19% | -2.45% |
BRLN vs. QAI - Expense Ratio Comparison
BRLN has a 0.55% expense ratio, which is lower than QAI's 0.79% expense ratio.
Dividends
BRLN vs. QAI - Dividend Comparison
BRLN's dividend yield for the trailing twelve months is around 6.37%, more than QAI's 1.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRLN BlackRock Floating Rate Loan ETF | 6.37% | 6.50% | 7.87% | 9.06% | 1.48% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QAI IQ Hedge Multi-Strategy Tracker ETF | 1.40% | 1.50% | 2.22% | 4.08% | 2.00% | 0.28% | 1.98% | 1.91% | 1.90% | 0.00% | 0.00% | 0.48% |
Frequently Asked Questions
BRLN and QAI have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QAI has higher volatility (2.56%) compared to BRLN (1.11%). In terms of maximum drawdown, BRLN dropped -3.85% vs QAI's -14.95%.
On 3-year performance, QAI leads with 9.67% vs 7.18% for BRLN. On fees, BRLN is cheaper at 0.55% per year. On volatility, BRLN has been the lower-risk option at 1.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, QAI has performed better with a 9.67% return vs 7.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BRLN is cheaper with a 0.55% expense ratio, compared with 0.79% for QAI.
BRLN has the higher dividend yield at 6.37%, compared with 1.40% for QAI.
BRLN is categorized as Bank Loan, while QAI is Long-Short. They also come from different issuers: BlackRock and New York Life. Their fees differ too: 0.55% for BRLN and 0.79% for QAI.
QAI currently has the higher Sharpe Ratio (2.26 vs 1.54), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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