QAI vs. QQQ
Compare and contrast key facts about IQ Hedge Multi-Strategy Tracker ETF (QAI) and Invesco QQQ ETF (QQQ).
QAI and QQQ 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. QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999. Both QAI and QQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
QAI vs. QQQ - Performance Comparison
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QAI vs. QQQ - 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% |
QQQ Invesco QQQ ETF | -5.93% | 20.77% | 25.58% | 54.86% | -32.58% | 27.42% | 48.62% | 38.96% | -0.13% | 32.66% |
Returns By Period
In the year-to-date period, QAI achieves a 1.82% return, which is significantly higher than QQQ's -5.93% return. Over the past 10 years, QAI has underperformed QQQ with an annualized return of 3.30%, while QQQ has yielded a comparatively higher 18.85% 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%
QQQ
- 1D
- 3.39%
- 1M
- -4.84%
- YTD
- -5.93%
- 6M
- -3.62%
- 1Y
- 23.68%
- 3Y*
- 22.32%
- 5Y*
- 12.88%
- 10Y*
- 18.85%
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QAI vs. QQQ - Expense Ratio Comparison
QAI has a 0.79% expense ratio, which is higher than QQQ's 0.18% expense ratio.
Return for Risk
QAI vs. QQQ — Risk / Return Rank
QAI
QQQ
QAI vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ Hedge Multi-Strategy Tracker ETF (QAI) and Invesco QQQ ETF (QQQ). 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 | QQQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.41 | 1.05 | +0.36 |
Sortino ratioReturn per unit of downside risk | 1.99 | 1.63 | +0.36 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.23 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.93 | 1.88 | +0.05 |
Martin ratioReturn relative to average drawdown | 8.93 | 6.95 | +1.98 |
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 | QQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.41 | 1.05 | +0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.58 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.85 | -0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.37 | +0.14 |
Correlation
The correlation between QAI and QQQ is 0.67, 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.
Dividends
QAI vs. QQQ - Dividend Comparison
QAI's dividend yield for the trailing twelve months is around 1.48%, more than QQQ's 0.49% 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% |
QQQ Invesco QQQ ETF | 0.49% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
Drawdowns
QAI vs. QQQ - Drawdown Comparison
The maximum QAI drawdown since its inception was -14.95%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for QAI and QQQ.
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Drawdown Indicators
| QAI | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.95% | -82.97% | +68.02% |
Max Drawdown (1Y)Largest decline over 1 year | -5.43% | -12.62% | +7.19% |
Max Drawdown (5Y)Largest decline over 5 years | -14.32% | -35.12% | +20.80% |
Max Drawdown (10Y)Largest decline over 10 years | -14.95% | -35.12% | +20.17% |
Current DrawdownCurrent decline from peak | -2.51% | -8.98% | +6.47% |
Average DrawdownAverage peak-to-trough decline | -2.60% | -32.99% | +30.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 3.41% | -2.24% |
Volatility
QAI vs. QQQ - Volatility Comparison
The current volatility for IQ Hedge Multi-Strategy Tracker ETF (QAI) is 2.83%, while Invesco QQQ ETF (QQQ) has a volatility of 6.51%. This indicates that QAI experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QAI | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.83% | 6.51% | -3.68% |
Volatility (6M)Calculated over the trailing 6-month period | 4.95% | 12.77% | -7.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.55% | 22.67% | -15.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.51% | 22.39% | -15.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.12% | 22.25% | -16.13% |