QAI vs. IGHG
Compare and contrast key facts about IQ Hedge Multi-Strategy Tracker ETF (QAI) and ProShares Investment Grade-Interest Rate Hedged (IGHG).
QAI and IGHG 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. IGHG is a passively managed fund by ProShares that tracks the performance of the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index. It was launched on Nov 5, 2013. Both QAI and IGHG 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 IGHG.
Key characteristics
| QAI | IGHG | |
|---|---|---|
| Sharpe Ratio | 2.04 | 1.89 |
| Sortino Ratio | 2.95 | 2.70 |
| Omega Ratio | 1.38 | 1.37 |
| Calmar Ratio | 2.53 | 3.14 |
| Martin Ratio | 14.08 | 14.72 |
| Ulcer Index | 0.75% | 0.56% |
| Daily Std Dev | 5.15% | 4.36% |
| Max Drawdown | -14.95% | -25.16% |
| Current Drawdown | 0.00% | -0.28% |
Correlation
The correlation between QAI and IGHG is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
QAI vs. IGHG - Performance Comparison
Returns By Period
The year-to-date returns for both stocks are quite close, with QAI having a 8.47% return and IGHG slightly lower at 8.18%. Over the past 10 years, QAI has underperformed IGHG with an annualized return of 2.25%, while IGHG has yielded a comparatively higher 3.76% annualized return.
QAI
8.47%
2.16%
5.87%
10.94%
3.17%
2.25%
IGHG
8.18%
0.97%
4.29%
8.32%
4.33%
3.76%
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QAI vs. IGHG - Expense Ratio Comparison
QAI has a 0.79% expense ratio, which is higher than IGHG's 0.30% expense ratio.
Risk-Adjusted Performance
QAI vs. IGHG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ Hedge Multi-Strategy Tracker ETF (QAI) and ProShares Investment Grade-Interest Rate Hedged (IGHG). 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. IGHG - Dividend Comparison
QAI's dividend yield for the trailing twelve months is around 3.76%, less than IGHG's 5.08% 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% |
IGHG ProShares Investment Grade-Interest Rate Hedged | 5.08% | 4.99% | 3.55% | 2.50% | 2.78% | 3.48% | 4.13% | 3.36% | 3.37% | 3.64% | 3.59% | 0.55% |
Drawdowns
QAI vs. IGHG - Drawdown Comparison
The maximum QAI drawdown since its inception was -14.95%, smaller than the maximum IGHG drawdown of -25.16%. Use the drawdown chart below to compare losses from any high point for QAI and IGHG. For additional features, visit the drawdowns tool.
Volatility
QAI vs. IGHG - Volatility Comparison
The current volatility for IQ Hedge Multi-Strategy Tracker ETF (QAI) is 1.09%, while ProShares Investment Grade-Interest Rate Hedged (IGHG) has a volatility of 1.69%. This indicates that QAI experiences smaller price fluctuations and is considered to be less risky than IGHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.