QAI vs. AGOX
Compare and contrast key facts about IQ Hedge Multi-Strategy Tracker ETF (QAI) and Adaptive Alpha Opportunities ETF (AGOX).
QAI and AGOX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. AGOX is managed by Adaptive Funds. It was launched on Sep 20, 2012.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: QAI or AGOX.
Key characteristics
| QAI | AGOX | |
|---|---|---|
| Sharpe Ratio | 2.04 | 1.40 |
| Sortino Ratio | 2.95 | 2.18 |
| Omega Ratio | 1.38 | 1.26 |
| Calmar Ratio | 2.53 | 2.29 |
| Martin Ratio | 14.08 | 7.73 |
| Ulcer Index | 0.75% | 3.07% |
| Daily Std Dev | 5.15% | 16.98% |
| Max Drawdown | -14.95% | -27.73% |
| Current Drawdown | 0.00% | -0.31% |
Correlation
The correlation between QAI and AGOX 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
QAI vs. AGOX - Performance Comparison
Returns By Period
In the year-to-date period, QAI achieves a 8.47% return, which is significantly lower than AGOX's 21.46% return.
QAI
8.47%
2.16%
5.87%
10.94%
3.17%
2.25%
AGOX
21.46%
5.91%
11.63%
24.06%
N/A
N/A
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QAI vs. AGOX - Expense Ratio Comparison
QAI has a 0.79% expense ratio, which is lower than AGOX's 1.69% expense ratio.
Risk-Adjusted Performance
QAI vs. AGOX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ Hedge Multi-Strategy Tracker ETF (QAI) and Adaptive Alpha Opportunities ETF (AGOX). 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
QAI vs. AGOX - Dividend Comparison
QAI's dividend yield for the trailing twelve months is around 3.76%, more than AGOX's 0.22% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QAI IQ Hedge Multi-Strategy Tracker ETF | 3.76% | 4.08% | 2.00% | 0.28% | 1.98% | 1.91% | 1.90% | 0.00% | 0.00% | 0.48% | 1.34% | 1.26% |
AGOX Adaptive Alpha Opportunities ETF | 0.22% | 0.27% | 0.20% | 3.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
QAI vs. AGOX - Drawdown Comparison
The maximum QAI drawdown since its inception was -14.95%, smaller than the maximum AGOX drawdown of -27.73%. Use the drawdown chart below to compare losses from any high point for QAI and AGOX. For additional features, visit the drawdowns tool.
Volatility
QAI vs. AGOX - Volatility Comparison
The current volatility for IQ Hedge Multi-Strategy Tracker ETF (QAI) is 1.09%, while Adaptive Alpha Opportunities ETF (AGOX) has a volatility of 4.33%. This indicates that QAI experiences smaller price fluctuations and is considered to be less risky than AGOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.