QAI vs. SENT

Last updated Jun 4, 2026

QAI (IQ Hedge Multi-Strategy Tracker ETF) and SENT (AdvisorShares Alpha DNA Equity Sentiment ETF) are both Long-Short funds - QAI tracks the IQ Hedge Multi-Strategy Index while SENT tracks the Actively Managed. Both are passively managed. Over the past 5 years, QAI returned 4.57%/yr vs -4.51%/yr for SENT. At a 0.48 correlation, their price movements are largely independent. QAI charges 0.79%/yr vs 1.01%/yr for SENT.

Performance

QAI vs. SENT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IQ Hedge Multi-Strategy Tracker ETF (QAI) and AdvisorShares Alpha DNA Equity Sentiment ETF (SENT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QAI

• 1D: -0.35%
• 1M: 2.48%
• YTD: 9.07%
• 6M: 9.63%
• 1Y: 16.35%
• 3Y*: 10.28%
• 5Y*: 4.57%
• 10Y*: 3.93%

SENT

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 0.00%
• 3Y*: -3.03%
• 5Y*: -4.51%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

QAI vs. SENT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QAI IQ Hedge Multi-Strategy Tracker ETF	9.07%	8.29%	6.67%	10.07%	-8.68%	-1.37%
SENT AdvisorShares Alpha DNA Equity Sentiment ETF	0.00%	0.00%	0.00%	-6.03%	-18.25%	8.96%

Correlation

The correlation between QAI and SENT is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Feb 4, 2021	0.48

The correlation between QAI and SENT shifts across timeframes, from 0.21 (3 years) to 0.48 (all time), reflecting how their relationship changes across market environments.

QAI vs. SENT - Sectors Allocation Comparison

Sectors	QAI	SENT
Technology	21.9%	26.2%
Financial Services	19.5%	6.1%
Industrials	13.6%	14.6%
Communication Services	11.2%	1.9%
Consumer Cyclical	7.3%	10.1%
Healthcare	7.1%	24.8%
Basic Materials	5.3%	3.0%
Utilities	3.8%	-
Energy	3.7%	10.3%
Consumer Defensive	3.7%	3.1%
Real Estate	2.9%	-

Return for Risk

QAI vs. SENT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QAI

QAI Risk / Return Rank: 85
QAI Sharpe Ratio Rank: 83
QAI Sortino Ratio Rank: 85
QAI Omega Ratio Rank: 87
QAI Calmar Ratio Rank: 82
QAI Martin Ratio Rank: 86

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QAI vs. SENT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ Hedge Multi-Strategy Tracker ETF (QAI) and AdvisorShares Alpha DNA Equity Sentiment ETF (SENT). 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	SENT	Difference
Sharpe ratio Return per unit of total volatility	2.74	—	—
Sortino ratio Return per unit of downside risk	3.91	—	—
Omega ratio Gain probability vs. loss probability	1.55	—	—
Calmar ratio Return relative to maximum drawdown	4.42	—	—
Martin ratio Return relative to average drawdown	18.26	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	QAI	SENT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.74	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	-0.36	+1.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	-0.25	+0.82

Drawdowns

QAI vs. SENT - Drawdown Comparison

The maximum QAI drawdown since its inception was -14.95%, smaller than the maximum SENT drawdown of -30.34%. Use the drawdown chart below to compare losses from any high point for QAI and SENT.

Drawdown Indicators

	QAI	SENT	Difference
Max Drawdown Largest peak-to-trough decline	-14.95%	-30.34%	+15.39%
Max Drawdown (1Y) Largest decline over 1 year	-3.71%	0.00%	-3.71%
Max Drawdown (3Y) Largest decline over 3 years	-7.78%	-15.83%	+8.05%
Max Drawdown (5Y) Largest decline over 5 years	-14.32%	-30.34%	+16.02%
Max Drawdown (10Y) Largest decline over 10 years	-14.95%	—	—
Current Drawdown Current decline from peak	-0.35%	-27.23%	+26.88%
Average Drawdown Average peak-to-trough decline	-2.57%	-20.90%	+18.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	0.00%	+0.90%

Volatility

QAI vs. SENT - Volatility Comparison

IQ Hedge Multi-Strategy Tracker ETF (QAI) has a higher volatility of 2.06% compared to AdvisorShares Alpha DNA Equity Sentiment ETF (SENT) at 0.00%. This indicates that QAI's price experiences larger fluctuations and is considered to be riskier than SENT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QAI	SENT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.06%	0.00%	+2.06%
Volatility (6M) Calculated over the trailing 6-month period	4.91%	0.00%	+4.91%
Volatility (1Y) Calculated over the trailing 1-year period	5.99%	0.00%	+5.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.55%	12.66%	-6.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.17%	13.32%	-7.15%

QAI vs. SENT - Expense Ratio Comparison

QAI has a 0.79% expense ratio, which is lower than SENT's 1.01% expense ratio.

Dividends

QAI vs. SENT - Dividend Comparison

QAI's dividend yield for the trailing twelve months is around 1.38%, while SENT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QAI IQ Hedge Multi-Strategy Tracker ETF	1.38%	1.50%	2.22%	4.08%	2.00%	0.28%	1.98%	1.91%	1.90%	0.00%	0.00%	0.48%
SENT AdvisorShares Alpha DNA Equity Sentiment ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QAI and SENT in my portfolio?

QAI and SENT have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QAI or SENT?

QAI has higher volatility (2.06%) compared to SENT (0.00%). In terms of maximum drawdown, QAI dropped -14.95% vs SENT's -30.34%.

Which ETF is better, QAI or SENT?

On 5-year performance, QAI leads with 4.57% vs -4.51% for SENT. On fees, QAI is cheaper at 0.79% per year. On volatility, SENT has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QAI or SENT?

Over the 5-year period, QAI has performed better with a 4.57% return vs -4.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QAI or SENT?

QAI is cheaper with a 0.79% expense ratio, compared with 1.01% for SENT.

Which ETF pays a higher dividend yield, QAI or SENT?

QAI has the higher dividend yield at 1.38%, compared with 0.00% for SENT.

What is the main difference between QAI and SENT?

QAI tracks IQ Hedge Multi-Strategy Index, while SENT tracks Actively Managed. They also come from different issuers: New York Life and AdvisorShares. Their fees differ too: 0.79% for QAI and 1.01% for SENT.