QAI vs. EUHY
QAI (IQ Hedge Multi-Strategy Tracker ETF) and EUHY (iShares Euro High Yield Corporate Bond USD Hedged ETF) are both exchange-traded funds - QAI is a Long-Short fund tracking the IQ Hedge Multi-Strategy Index, while EUHY is a High Yield Bonds fund tracking the BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index. Both are passively managed. Over the past 10 years, QAI returned 3.79%/yr vs 3.68%/yr for EUHY. At a 0.39 correlation, their price movements are largely independent. QAI charges 0.79%/yr vs 0.35%/yr for EUHY.
Performance
QAI vs. EUHY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, QAI achieves a 7.58% return, which is significantly higher than EUHY's 1.70% return. Both investments have delivered pretty close results over the past 10 years, with QAI having a 3.79% annualized return and EUHY not far behind at 3.68%.
QAI
- 1D
- 0.42%
- 1M
- -0.22%
- YTD
- 7.58%
- 6M
- 8.00%
- 1Y
- 14.10%
- 3Y*
- 9.67%
- 5Y*
- 4.31%
- 10Y*
- 3.79%
EUHY
- 1D
- -0.12%
- 1M
- 0.05%
- YTD
- 1.70%
- 6M
- 2.27%
- 1Y
- 5.47%
- 3Y*
- 9.44%
- 5Y*
- 1.82%
- 10Y*
- 3.68%
QAI vs. EUHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QAI IQ Hedge Multi-Strategy Tracker ETF | 7.58% | 8.29% | 6.67% | 10.07% | -8.68% | -0.16% | 5.73% | 8.68% | -3.32% | 6.17% |
EUHY iShares Euro High Yield Corporate Bond USD Hedged ETF | 1.70% | 17.41% | -0.55% | 16.06% | -15.59% | -3.78% | 10.69% | 8.60% | -7.71% | 19.68% |
Correlation
The correlation between QAI and EUHY is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2012 | 0.39 |
The correlation between QAI and EUHY shifts across timeframes, from 0.39 (all time) to 0.54 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
QAI vs. EUHY — Risk / Return Rank
QAI
EUHY
QAI vs. EUHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ Hedge Multi-Strategy Tracker ETF (QAI) and iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY). 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 | EUHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.27 | ||
| Sortino ratioReturn per unit of downside risk | +1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.19 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.81 | 1.57 | +2.24 |
| Martin ratioReturn relative to average drawdown | 15.45 | 3.75 | +11.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| QAI | EUHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.26 | 1.00 | +1.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | 0.18 | +0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 0.35 | +0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.34 | +0.22 |
Drawdowns
QAI vs. EUHY - Drawdown Comparison
The maximum QAI drawdown since its inception was -14.95%, smaller than the maximum EUHY drawdown of -32.45%. Use the drawdown chart below to compare losses from any high point for QAI and EUHY.
Loading charts...
Drawdown Indicators
| QAI | EUHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.95% | -32.45% | +17.50% |
Max Drawdown (1Y)Largest decline over 1 year | -3.71% | -3.50% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -7.78% | -8.23% | +0.45% |
Max Drawdown (5Y)Largest decline over 5 years | -14.32% | -32.45% | +18.13% |
Max Drawdown (10Y)Largest decline over 10 years | -14.95% | -32.45% | +17.50% |
Current DrawdownCurrent decline from peak | -1.72% | -0.38% | -1.34% |
Average DrawdownAverage peak-to-trough decline | -2.57% | -8.58% | +6.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 1.46% | -0.55% |
Volatility
QAI vs. EUHY - Volatility Comparison
IQ Hedge Multi-Strategy Tracker ETF (QAI) has a higher volatility of 2.56% compared to iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) at 1.03%. This indicates that QAI's price experiences larger fluctuations and is considered to be riskier than EUHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| QAI | EUHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.56% | 1.03% | +1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 5.25% | 2.89% | +2.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.26% | 5.51% | +0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.60% | 10.00% | -3.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.19% | 10.42% | -4.23% |
QAI vs. EUHY - Expense Ratio Comparison
QAI has a 0.79% expense ratio, which is higher than EUHY's 0.35% expense ratio.
Dividends
QAI vs. EUHY - Dividend Comparison
QAI's dividend yield for the trailing twelve months is around 1.40%, less than EUHY's 5.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUHY iShares Euro High Yield Corporate Bond USD Hedged ETF | 5.35% | 3.56% | 5.11% | 3.38% | 0.61% | 3.07% | 1.45% | 1.19% | 4.01% | 0.69% | 1.70% | 3.24% |
QAI IQ 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 EUHY have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QAI has higher volatility (2.56%) compared to EUHY (1.03%). In terms of maximum drawdown, QAI dropped -14.95% vs EUHY's -32.45%.
On 10-year performance, QAI leads with 3.79% vs 3.68% for EUHY. On fees, EUHY is cheaper at 0.35% per year. On volatility, EUHY has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QAI has performed better with a 3.79% return vs 3.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EUHY is cheaper with a 0.35% expense ratio, compared with 0.79% for QAI.
EUHY has the higher dividend yield at 5.35%, compared with 1.40% for QAI.
QAI is categorized as Long-Short, while EUHY is High Yield Bonds. QAI tracks IQ Hedge Multi-Strategy Index, while EUHY tracks BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index. They also come from different issuers: New York Life and iShares. Their fees differ too: 0.79% for QAI and 0.35% for EUHY.
QAI currently has the higher Sharpe Ratio (2.26 vs 1.00), 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.
Find the right allocation for QAI and EUHY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer