QAI vs. AIMOX

Last updated Jun 4, 2026

QAI (IQ Hedge Multi-Strategy Tracker ETF) and AIMOX (AQR International Momentum Style Fund) are both funds - QAI is a Long-Short fund tracking the IQ Hedge Multi-Strategy Index, while AIMOX is a Foreign Large Cap Equities fund managed by AQR Funds. A 0.74 correlation means they provide meaningful diversification when combined. QAI charges 0.79%/yr vs 0.57%/yr for AIMOX.

Performance

QAI vs. AIMOX - Performance Comparison

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

Returns By Period

QAI

• 1D: -0.35%
• 1M: 2.48%
• YTD: 9.07%
• 6M: 9.63%
• 1Y: 16.35%
• 3Y*: 10.28%
• 5Y*: 4.57%
• 10Y*: 3.93%

AIMOX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QAI vs. AIMOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QAI IQ Hedge Multi-Strategy Tracker ETF	9.07%	8.29%	6.67%	10.07%	-8.68%	-0.16%	5.73%	8.68%	-3.32%	6.17%
AIMOX AQR International Momentum Style Fund	6.10%	34.89%	8.70%	16.69%	-19.43%	12.04%	16.57%	22.63%	-15.29%	25.25%

Correlation

The correlation between QAI and AIMOX is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jan 5, 2010	0.74

The correlation between QAI and AIMOX has been stable across timeframes, ranging from 0.74 to 0.78 - a consistent structural relationship.

Return for Risk

QAI vs. AIMOX — Risk / Return Rank

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

QAI

QAI Risk / Return Rank: 85
QAI Sharpe Ratio Rank: 83
QAI Sortino Ratio Rank: 85
QAI Omega Ratio Rank: 87
QAI Calmar Ratio Rank: 82
QAI Martin Ratio Rank: 86

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.

QAI vs. AIMOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ Hedge Multi-Strategy Tracker ETF (QAI) and AQR International Momentum Style Fund (AIMOX). 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.

	QAI	AIMOX	Difference
Sharpe ratio Return per unit of total volatility	2.74	—	—
Sortino ratio Return per unit of downside risk	3.91	—	—
Omega ratio Gain probability vs. loss probability	1.55	—	—
Calmar ratio Return relative to maximum drawdown	4.42	—	—
Martin ratio Return relative to average drawdown	18.26	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	QAI	AIMOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.74	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	—	—

Drawdowns

Drawdown Indicators

	QAI	AIMOX	Difference
Max Drawdown Largest peak-to-trough decline	-14.95%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-3.71%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-7.78%	—	—
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	-0.35%	—	—
Average Drawdown Average peak-to-trough decline	-2.57%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	—	—

Volatility

Volatility by Period

	QAI	AIMOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.06%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.91%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.99%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.55%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.17%	—	—

QAI vs. AIMOX - Expense Ratio Comparison

QAI has a 0.79% expense ratio, which is higher than AIMOX's 0.57% expense ratio.

Dividends

QAI vs. AIMOX - Dividend Comparison

QAI's dividend yield for the trailing twelve months is around 1.38%, less than AIMOX's 20.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIMOX AQR International Momentum Style Fund	20.85%	15.20%	22.64%	13.66%	2.77%	2.22%	1.12%	2.34%	2.17%	2.19%	2.52%	1.62%
QAI IQ Hedge Multi-Strategy Tracker ETF	1.38%	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 QAI and AIMOX in my portfolio?

QAI and AIMOX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.