QAI vs. RSPN
Compare and contrast key facts about IQ Hedge Multi-Strategy Tracker ETF (QAI) and Invesco S&P 500® Equal Weight Industrials ETF (RSPN).
QAI and RSPN 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. RSPN is a passively managed fund by Invesco that tracks the performance of the S&P 500® Equal Weight Industrials Index. It was launched on Jan 11, 2006. Both QAI and RSPN 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 RSPN.
Key characteristics
| QAI | RSPN | |
|---|---|---|
| Sharpe Ratio | 2.04 | 2.47 |
| Sortino Ratio | 2.95 | 3.49 |
| Omega Ratio | 1.38 | 1.43 |
| Calmar Ratio | 2.53 | 5.96 |
| Martin Ratio | 14.08 | 14.42 |
| Ulcer Index | 0.75% | 2.39% |
| Daily Std Dev | 5.15% | 13.92% |
| Max Drawdown | -14.95% | -61.64% |
| Current Drawdown | 0.00% | -1.02% |
Correlation
The correlation between QAI and RSPN is 0.61, 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. RSPN - Performance Comparison
Returns By Period
In the year-to-date period, QAI achieves a 8.47% return, which is significantly lower than RSPN's 27.36% return. Over the past 10 years, QAI has underperformed RSPN with an annualized return of 2.25%, while RSPN has yielded a comparatively higher 11.79% annualized return.
QAI
8.47%
2.16%
5.87%
10.94%
3.17%
2.25%
RSPN
27.36%
6.59%
20.39%
34.24%
15.92%
11.79%
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QAI vs. RSPN - Expense Ratio Comparison
QAI has a 0.79% expense ratio, which is higher than RSPN's 0.40% expense ratio.
Risk-Adjusted Performance
QAI vs. RSPN - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ Hedge Multi-Strategy Tracker ETF (QAI) and Invesco S&P 500® Equal Weight Industrials ETF (RSPN). 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. RSPN - Dividend Comparison
QAI's dividend yield for the trailing twelve months is around 3.76%, more than RSPN's 0.86% 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% |
RSPN Invesco S&P 500® Equal Weight Industrials ETF | 0.86% | 0.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
QAI vs. RSPN - Drawdown Comparison
The maximum QAI drawdown since its inception was -14.95%, smaller than the maximum RSPN drawdown of -61.64%. Use the drawdown chart below to compare losses from any high point for QAI and RSPN. For additional features, visit the drawdowns tool.
Volatility
QAI vs. RSPN - Volatility Comparison
The current volatility for IQ Hedge Multi-Strategy Tracker ETF (QAI) is 1.09%, while Invesco S&P 500® Equal Weight Industrials ETF (RSPN) has a volatility of 5.32%. This indicates that QAI experiences smaller price fluctuations and is considered to be less risky than RSPN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.