QAI vs. RISR
QAI (NYLI Hedge Multi-Strategy Tracker ETF) and RISR (FolioBeyond Alternative Income and Interest Rate Hedge ETF) are both exchange-traded funds - QAI is a Long-Short fund tracking the NYLI Hedge Multi-Strategy Index, while RISR is a Nontraditional Bonds fund actively managed by FolioBeyond. QAI is passively managed, while RISR is actively managed. Over the past 3 years, QAI returned 9.04%/yr vs 10.07%/yr for RISR. Their -0.13 correlation means they have often moved in opposite directions in the past. QAI charges 0.79%/yr vs 1.13%/yr for RISR.
Performance
QAI vs. RISR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, QAI achieves a 8.24% return, which is significantly higher than RISR's 4.75% return.
QAI
- 1D
- 0.53%
- 1M
- -0.19%
- 6M
- 5.47%
- YTD
- 8.24%
- 1Y
- 13.17%
- 3Y*
- 9.04%
- 5Y*
- 4.48%
- 10Y*
- 3.81%
- ALL TIME*
- 3.52%
RISR
- 1D
- -0.15%
- 1M
- 1.47%
- 6M
- 4.83%
- YTD
- 4.75%
- 1Y
- 6.29%
- 3Y*
- 10.07%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.10M | $2.09M | $2.25M | |
| $3.20M | $3.07M | $3.51M |
QAI vs. RISR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
QAI NYLI Hedge Multi-Strategy Tracker ETF | 8.24% | 8.29% | 6.67% | 10.07% | -8.68% | 0.37% |
RISR FolioBeyond Alternative Income and Interest Rate Hedge ETF | 4.75% | 4.63% | 24.20% | 7.02% | 31.98% | -0.04% |
Correlation
The correlation between QAI and RISR is -0.25, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.25 |
Correlation (3Y) Balances recent behavior with more history. | -0.12 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021 | -0.13 |
The correlation between QAI and RISR shifts across timeframes, from -0.25 (1 year) to -0.12 (3 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. RISR — Risk / Return Rank
QAI
RISR
QAI vs. RISR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NYLI Hedge Multi-Strategy Tracker ETF (QAI) and FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR). 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 | RISR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.72 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.22 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.56 | 2.42 | +1.14 |
| Martin ratioReturn relative to average drawdown | 12.16 | 5.79 | +6.37 |
Loading charts...
Drawdowns
QAI vs. RISR - Drawdown Comparison
The maximum QAI drawdown since its inception was -14.95%, roughly equal to the maximum RISR drawdown of -14.31%. Use the drawdown chart below to compare losses from any high point for QAI and RISR.
Loading charts...
Drawdown Indicators
| QAI | RISR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.95% | -14.31% | -0.64% |
Max Drawdown (1Y)Largest decline over 1 year | -3.71% | -2.61% | -1.10% |
Max Drawdown (3Y)Largest decline over 3 years | -7.78% | -8.07% | +0.29% |
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 | -1.39% | -0.15% | -1.24% |
Average DrawdownAverage peak-to-trough decline | -2.56% | -2.12% | -0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 1.09% | 0.00% |
Volatility
QAI vs. RISR - Volatility Comparison
NYLI Hedge Multi-Strategy Tracker ETF (QAI) has a higher volatility of 1.90% compared to FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR) at 1.13%. This indicates that QAI's price experiences larger fluctuations and is considered to be riskier than RISR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| QAI | RISR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.90% | 1.13% | +0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 5.71% | 3.57% | +2.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.88% | 5.25% | +1.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.72% | 11.67% | -4.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.24% | 11.67% | -5.43% |
QAI vs. RISR - Expense Ratio Comparison
QAI has a 0.79% expense ratio, which is lower than RISR's 1.13% expense ratio.
Dividends
QAI vs. RISR - Dividend Comparison
QAI's dividend yield for the trailing twelve months is around 1.39%, less than RISR's 5.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QAI NYLI Hedge Multi-Strategy Tracker ETF | 1.39% | 1.50% | 2.22% | 4.08% | 2.00% | 0.28% | 1.98% | 1.91% | 1.90% | 0.00% | 0.00% | 0.48% |
RISR FolioBeyond Alternative Income and Interest Rate Hedge ETF | 5.88% | 5.95% | 5.67% | 7.96% | 4.26% | 0.30% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QAI and RISR have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QAI has higher volatility (1.90%) compared to RISR (1.13%). In terms of maximum drawdown, QAI dropped -14.95% vs RISR's -14.31%.
On 3-year performance, RISR leads with 10.07% vs 9.04% for QAI. On fees, QAI is cheaper at 0.79% per year. On volatility, RISR has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, RISR has performed better with a 10.07% return vs 9.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QAI is cheaper with a 0.79% expense ratio, compared with 1.13% for RISR.
RISR has the higher dividend yield at 5.88%, compared with 1.39% for QAI.
QAI is categorized as Long-Short, while RISR is Nontraditional Bonds. They also come from different issuers: New York Life and FolioBeyond. Their fees differ too: 0.79% for QAI and 1.13% for RISR.
QAI currently has the higher Sharpe Ratio (1.93 vs 1.20), 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 RISR
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