QAI vs. HDG
Compare and contrast key facts about IQ Hedge Multi-Strategy Tracker ETF (QAI) and ProShares Hedge Replication (HDG).
QAI and HDG 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. HDG is a passively managed fund by ProShares that tracks the performance of the Merrill Lynch Factor Model - Exchange Series. It was launched on Jul 12, 2011. Both QAI and HDG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: QAI or HDG.
Key characteristics
| QAI | HDG | |
|---|---|---|
| Sharpe Ratio | 2.04 | 1.56 |
| Sortino Ratio | 2.95 | 2.25 |
| Omega Ratio | 1.38 | 1.29 |
| Calmar Ratio | 2.53 | 1.26 |
| Martin Ratio | 14.08 | 10.59 |
| Ulcer Index | 0.75% | 0.78% |
| Daily Std Dev | 5.15% | 5.27% |
| Max Drawdown | -14.95% | -15.31% |
| Current Drawdown | 0.00% | -0.25% |
Correlation
The correlation between QAI and HDG is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
QAI vs. HDG - Performance Comparison
Returns By Period
In the year-to-date period, QAI achieves a 8.47% return, which is significantly higher than HDG's 6.23% return. Over the past 10 years, QAI has underperformed HDG with an annualized return of 2.25%, while HDG has yielded a comparatively higher 2.62% annualized return.
QAI
8.47%
2.16%
5.87%
10.94%
3.17%
2.25%
HDG
6.23%
1.39%
4.11%
8.27%
3.15%
2.62%
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QAI vs. HDG - Expense Ratio Comparison
QAI has a 0.79% expense ratio, which is lower than HDG's 0.95% expense ratio.
Risk-Adjusted Performance
QAI vs. HDG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ Hedge Multi-Strategy Tracker ETF (QAI) and ProShares Hedge Replication (HDG). 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. HDG - Dividend Comparison
QAI's dividend yield for the trailing twelve months is around 3.76%, more than HDG's 3.45% 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% |
HDG ProShares Hedge Replication | 3.45% | 3.48% | 0.39% | 0.00% | 0.08% | 1.09% | 0.52% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
QAI vs. HDG - Drawdown Comparison
The maximum QAI drawdown since its inception was -14.95%, roughly equal to the maximum HDG drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for QAI and HDG. For additional features, visit the drawdowns tool.
Volatility
QAI vs. HDG - Volatility Comparison
The current volatility for IQ Hedge Multi-Strategy Tracker ETF (QAI) is 1.09%, while ProShares Hedge Replication (HDG) has a volatility of 1.19%. This indicates that QAI experiences smaller price fluctuations and is considered to be less risky than HDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.