QAI vs. CLOO
QAI (NYLI Hedge Multi-Strategy Tracker ETF) and CLOO (NYLI Investment Grade CLO ETF) are both exchange-traded funds - QAI is a Long-Short fund tracking the NYLI Hedge Multi-Strategy Index, while CLOO is a CLO fund actively managed by New York Life. QAI is passively managed, while CLOO is actively managed. Their 0.02 correlation means their historical movements had little consistent relationship. QAI charges 0.79%/yr vs 0.25%/yr for CLOO.
Performance
QAI vs. CLOO - Performance Comparison
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Returns By Period
QAI
- 1D
- 0.25%
- 1M
- -0.72%
- 6M
- 5.22%
- YTD
- 7.67%
- 1Y
- 12.58%
- 3Y*
- 8.67%
- 5Y*
- 4.39%
- 10Y*
- 3.74%
- ALL TIME*
- 3.49%
CLOO
- 1D
- 0.08%
- 1M
- 0.40%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.27K | $245.87K | $345.54K | |
| $2.04M | $2.05M | $2.17M |
QAI vs. CLOO - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
QAI NYLI Hedge Multi-Strategy Tracker ETF | 0.50% |
CLOO NYLI Investment Grade CLO ETF | 1.34% |
Correlation
The correlation between QAI and CLOO is 0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since May 6, 2026 | 0.02 |
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Return for Risk
QAI vs. CLOO — Risk / Return Rank
QAI
CLOO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
QAI vs. CLOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NYLI Hedge Multi-Strategy Tracker ETF (QAI) and NYLI Investment Grade CLO ETF (CLOO). 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.
| QAI | CLOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.35 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.39 | — | — |
| Martin ratioReturn relative to average drawdown | 11.62 | — | — |
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Drawdowns
QAI vs. CLOO - Drawdown Comparison
The maximum QAI drawdown since its inception was -14.95%, which is greater than CLOO's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for QAI and CLOO.
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Drawdown Indicators
| QAI | CLOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.95% | -0.04% | -14.91% |
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 DrawdownCurrent decline from peak | -1.90% | 0.00% | -1.90% |
Average DrawdownAverage peak-to-trough decline | -2.56% | 0.00% | -2.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | — | — |
Volatility
QAI vs. CLOO - Volatility Comparison
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Volatility by Period
| QAI | CLOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.82% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 5.78% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 6.85% | 0.46% | +6.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.71% | 0.46% | +6.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.24% | 0.46% | +5.78% |
QAI vs. CLOO - Expense Ratio Comparison
QAI has a 0.79% expense ratio, which is higher than CLOO's 0.25% expense ratio.
Dividends
QAI vs. CLOO - Dividend Comparison
QAI's dividend yield for the trailing twelve months is around 1.40%, more than CLOO's 0.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLOO NYLI Investment Grade CLO ETF | 0.99% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QAI NYLI 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
QAI and CLOO have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CLOO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CLOO is cheaper with a 0.25% expense ratio, compared with 0.79% for QAI.
QAI has the higher dividend yield at 1.40%, compared with 0.99% for CLOO.
QAI is categorized as Long-Short, while CLOO is CLO. Their fees differ too: 0.79% for QAI and 0.25% for CLOO.
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