IDUB vs. QAI

Last updated Jun 24, 2026

IDUB (Aptus International Enhanced Yield ETF) and QAI (IQ Hedge Multi-Strategy Tracker ETF) are both Long-Short funds. IDUB is actively managed, while QAI is passively managed. Over the past 3 years, IDUB returned 17.49%/yr vs 9.95%/yr for QAI. A 0.78 correlation means they provide meaningful diversification when combined. IDUB charges 0.45%/yr vs 0.79%/yr for QAI.

Performance

IDUB vs. QAI - Performance Comparison

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

Returns By Period

In the year-to-date period, IDUB achieves a 14.34% return, which is significantly higher than QAI's 8.45% return.

IDUB

• 1D: -2.69%
• 1M: 0.48%
• YTD: 14.34%
• 6M: 14.11%
• 1Y: 31.78%
• 3Y*: 17.49%
• 5Y*: —
• 10Y*: —

QAI

• 1D: -1.20%
• 1M: 0.61%
• YTD: 8.45%
• 6M: 8.10%
• 1Y: 15.12%
• 3Y*: 9.95%
• 5Y*: 4.45%
• 10Y*: 3.94%

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

IDUB vs. QAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IDUB Aptus International Enhanced Yield ETF	14.34%	27.53%	6.12%	9.07%	-19.79%	-1.16%
QAI IQ Hedge Multi-Strategy Tracker ETF	8.45%	8.29%	6.67%	10.07%	-8.68%	-0.97%

Correlation

The correlation between IDUB and QAI is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jul 23, 2021	0.78

The correlation between IDUB and QAI has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

Return for Risk

IDUB vs. QAI — Risk / Return Rank

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

IDUB

IDUB Risk / Return Rank: 63
IDUB Sharpe Ratio Rank: 63
IDUB Sortino Ratio Rank: 62
IDUB Omega Ratio Rank: 65
IDUB Calmar Ratio Rank: 60
IDUB Martin Ratio Rank: 64

QAI

QAI Risk / Return Rank: 80
QAI Sharpe Ratio Rank: 76
QAI Sortino Ratio Rank: 76
QAI Omega Ratio Rank: 81
QAI Calmar Ratio Rank: 81
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.

IDUB vs. QAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aptus International Enhanced Yield ETF (IDUB) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IDUB	QAI	Difference
Sharpe ratio: Return per unit of total volatility	1.94	2.31	-0.37
Sortino ratio: Return per unit of downside risk	2.67	3.20	-0.53
Omega ratio: Gain probability vs. loss probability	1.36	1.46	-0.10
Calmar ratio: Return relative to maximum drawdown	2.79	4.09	-1.30
Martin ratio: Return relative to average drawdown	10.92	16.12	-5.20

IDUB vs. QAI - Sharpe Ratio Comparison

The current IDUB Sharpe Ratio is 1.94, which is comparable to the QAI Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of IDUB and QAI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IDUB vs. QAI - Drawdown Comparison

The maximum IDUB drawdown since its inception was -29.20%, which is greater than QAI's maximum drawdown of -14.95%. Use the drawdown chart below to compare losses from any high point for IDUB and QAI.

Drawdown Indicators

	IDUB	QAI	Difference
Max Drawdown Largest peak-to-trough decline	-29.20%	-14.95%	-14.25%
Max Drawdown (1Y) Largest decline over 1 year	-11.46%	-3.71%	-7.75%
Max Drawdown (3Y) Largest decline over 3 years	-12.88%	-7.78%	-5.10%
Max Drawdown (5Y) Largest decline over 5 years	—	-14.32%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-14.95%	—
Current Drawdown Current decline from peak	-2.69%	-1.20%	-1.49%
Average Drawdown Average peak-to-trough decline	-11.06%	-2.57%	-8.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	0.94%	+1.98%

Volatility

IDUB vs. QAI - Volatility Comparison

Aptus International Enhanced Yield ETF (IDUB) has a higher volatility of 6.55% compared to IQ Hedge Multi-Strategy Tracker ETF (QAI) at 3.12%. This indicates that IDUB'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

	IDUB	QAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.55%	3.12%	+3.43%
Volatility (6M) Calculated over the trailing 6-month period	14.22%	5.63%	+8.59%
Volatility (1Y) Calculated over the trailing 1-year period	16.44%	6.58%	+9.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.80%	6.67%	+8.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.80%	6.23%	+8.57%

IDUB vs. QAI - Expense Ratio Comparison

IDUB has a 0.45% expense ratio, which is lower than QAI's 0.79% expense ratio.

Dividends

IDUB vs. QAI - Dividend Comparison

IDUB's dividend yield for the trailing twelve months is around 5.06%, more than QAI's 1.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IDUB Aptus International Enhanced Yield ETF	5.06%	4.90%	5.64%	3.71%	2.62%	1.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QAI IQ Hedge Multi-Strategy Tracker ETF	1.39%	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

Can I hold both IDUB and QAI in my portfolio?

IDUB and QAI have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IDUB or QAI?

IDUB has higher volatility (6.55%) compared to QAI (3.12%). In terms of maximum drawdown, IDUB dropped -29.20% vs QAI's -14.95%.

Which ETF is better, IDUB or QAI?

On 3-year performance, IDUB leads with 17.49% vs 9.95% for QAI. On fees, IDUB is cheaper at 0.45% per year. On volatility, QAI has been the lower-risk option at 3.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IDUB or QAI?

Over the 3-year period, IDUB has performed better with a 17.49% return vs 9.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IDUB or QAI?

IDUB is cheaper with a 0.45% expense ratio, compared with 0.79% for QAI.

Which ETF pays a higher dividend yield, IDUB or QAI?

IDUB has the higher dividend yield at 5.06%, compared with 1.39% for QAI.

What is the main difference between IDUB and QAI?

They also come from different issuers: Aptus and New York Life. Their fees differ too: 0.45% for IDUB and 0.79% for QAI.

Which has better risk-adjusted returns?

QAI currently has the higher Sharpe Ratio (2.31 vs 1.94), 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.