QAI vs. ALFAX
Compare and contrast key facts about IQ Hedge Multi-Strategy Tracker ETF (QAI) and Lord Abbett Alpha Strategy Fund (ALFAX).
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. ALFAX is managed by Lord Abbett. It was launched on Mar 18, 1998.
Performance
QAI vs. ALFAX - Performance Comparison
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QAI vs. ALFAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
ALFAX Lord Abbett Alpha Strategy Fund | -2.53% | 8.80% | 13.18% | 13.92% | -23.50% | 15.01% | 26.16% | 24.95% | -9.72% | 20.61% |
Returns By Period
In the year-to-date period, QAI achieves a 1.82% return, which is significantly higher than ALFAX's -2.53% return. Over the past 10 years, QAI has underperformed ALFAX with an annualized return of 3.30%, while ALFAX has yielded a comparatively higher 8.73% annualized return.
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%
ALFAX
- 1D
- -1.32%
- 1M
- -9.32%
- YTD
- -2.53%
- 6M
- -1.61%
- 1Y
- 16.40%
- 3Y*
- 8.86%
- 5Y*
- 1.80%
- 10Y*
- 8.73%
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QAI vs. ALFAX - Expense Ratio Comparison
QAI has a 0.79% expense ratio, which is lower than ALFAX's 1.40% expense ratio.
Return for Risk
QAI vs. ALFAX — Risk / Return Rank
QAI
ALFAX
QAI vs. ALFAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ Hedge Multi-Strategy Tracker ETF (QAI) and Lord Abbett Alpha Strategy Fund (ALFAX). 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 | ALFAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.41 | 0.80 | +0.61 |
Sortino ratioReturn per unit of downside risk | 1.99 | 1.23 | +0.76 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.17 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 1.93 | 1.07 | +0.86 |
Martin ratioReturn relative to average drawdown | 8.93 | 4.45 | +4.48 |
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
| QAI | ALFAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.41 | 0.80 | +0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.09 | +0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.43 | +0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.40 | +0.12 |
Correlation
The correlation between QAI and ALFAX 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.
Dividends
QAI vs. ALFAX - Dividend Comparison
QAI's dividend yield for the trailing twelve months is around 1.48%, less than ALFAX's 5.44% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ALFAX Lord Abbett Alpha Strategy Fund | 5.44% | 5.30% | 0.80% | 0.46% | 6.94% | 5.38% | 7.99% | 14.66% | 16.61% | 11.96% | 11.85% | 15.83% |
Drawdowns
QAI vs. ALFAX - Drawdown Comparison
The maximum QAI drawdown since its inception was -14.95%, smaller than the maximum ALFAX drawdown of -57.11%. Use the drawdown chart below to compare losses from any high point for QAI and ALFAX.
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Drawdown Indicators
| QAI | ALFAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.95% | -57.11% | +42.16% |
Max Drawdown (1Y)Largest decline over 1 year | -5.43% | -13.07% | +7.64% |
Max Drawdown (5Y)Largest decline over 5 years | -14.32% | -33.88% | +19.56% |
Max Drawdown (10Y)Largest decline over 10 years | -14.95% | -40.29% | +25.34% |
Current DrawdownCurrent decline from peak | -2.51% | -10.31% | +7.80% |
Average DrawdownAverage peak-to-trough decline | -2.60% | -12.94% | +10.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 3.13% | -1.96% |
Volatility
QAI vs. ALFAX - Volatility Comparison
The current volatility for IQ Hedge Multi-Strategy Tracker ETF (QAI) is 2.83%, while Lord Abbett Alpha Strategy Fund (ALFAX) has a volatility of 6.61%. This indicates that QAI experiences smaller price fluctuations and is considered to be less risky than ALFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QAI | ALFAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.83% | 6.61% | -3.78% |
Volatility (6M)Calculated over the trailing 6-month period | 4.95% | 12.41% | -7.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.55% | 20.01% | -12.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.51% | 19.76% | -13.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.12% | 20.59% | -14.47% |