RSPN vs. QAI
RSPN (Invesco S&P 500® Equal Weight Industrials ETF) and QAI (IQ Hedge Multi-Strategy Tracker ETF) are both exchange-traded funds - RSPN is a Industrials Equities fund tracking the S&P 500® Equal Weight Industrials Index, while QAI is a Long-Short fund tracking the IQ Hedge Multi-Strategy Index. Both are passively managed. Over the past 10 years, RSPN returned 15.13%/yr vs 4.06%/yr for QAI. A 0.62 correlation means they provide meaningful diversification when combined. RSPN charges 0.40%/yr vs 0.79%/yr for QAI.
Performance
RSPN vs. QAI - Performance Comparison
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Returns By Period
In the year-to-date period, RSPN achieves a 11.03% return, which is significantly higher than QAI's 9.76% return. Over the past 10 years, RSPN has outperformed QAI with an annualized return of 15.13%, while QAI has yielded a comparatively lower 4.06% annualized return.
RSPN
- 1D
- 0.31%
- 1M
- 4.48%
- YTD
- 11.03%
- 6M
- 9.28%
- 1Y
- 22.27%
- 3Y*
- 18.21%
- 5Y*
- 12.23%
- 10Y*
- 15.13%
QAI
- 1D
- 0.14%
- 1M
- 1.83%
- YTD
- 9.76%
- 6M
- 9.54%
- 1Y
- 16.95%
- 3Y*
- 10.39%
- 5Y*
- 4.75%
- 10Y*
- 4.06%
RSPN vs. QAI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RSPN Invesco S&P 500® Equal Weight Industrials ETF | 11.03% | 13.84% | 17.63% | 22.32% | -8.79% | 26.07% | 18.07% | 33.17% | -13.23% | 23.22% |
QAI IQ Hedge Multi-Strategy Tracker ETF | 9.76% | 8.29% | 6.67% | 10.07% | -8.68% | -0.16% | 5.73% | 8.68% | -3.32% | 6.17% |
Correlation
The correlation between RSPN and QAI is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Mar 25, 2009 | 0.62 |
The correlation between RSPN and QAI has been stable across timeframes, ranging from 0.62 to 0.69 - a consistent structural relationship.
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Return for Risk
RSPN vs. QAI — Risk / Return Rank
RSPN
QAI
RSPN vs. QAI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500® Equal Weight Industrials ETF (RSPN) and IQ Hedge Multi-Strategy Tracker ETF (QAI). 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.
| RSPN | QAI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -1.65 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.53 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 4.58 | -2.77 |
| Martin ratioReturn relative to average drawdown | 6.20 | 18.13 | -11.94 |
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Drawdowns
RSPN vs. QAI - Drawdown Comparison
The maximum RSPN drawdown since its inception was -59.61%, which is greater than QAI's maximum drawdown of -14.95%. Use the drawdown chart below to compare losses from any high point for RSPN and QAI.
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Drawdown Indicators
| RSPN | QAI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.61% | -14.95% | -44.66% |
Max Drawdown (1Y)Largest decline over 1 year | -12.36% | -3.71% | -8.65% |
Max Drawdown (3Y)Largest decline over 3 years | -20.89% | -7.78% | -13.11% |
Max Drawdown (5Y)Largest decline over 5 years | -21.88% | -14.32% | -7.56% |
Max Drawdown (10Y)Largest decline over 10 years | -42.02% | -14.95% | -27.07% |
Current DrawdownCurrent decline from peak | -1.65% | 0.00% | -1.65% |
Average DrawdownAverage peak-to-trough decline | -7.66% | -2.57% | -5.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.60% | 0.94% | +2.66% |
Volatility
RSPN vs. QAI - Volatility Comparison
Invesco S&P 500® Equal Weight Industrials ETF (RSPN) has a higher volatility of 5.44% compared to IQ Hedge Multi-Strategy Tracker ETF (QAI) at 2.83%. This indicates that RSPN's price experiences larger fluctuations and is considered to be riskier than QAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RSPN | QAI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.44% | 2.83% | +2.61% |
Volatility (6M)Calculated over the trailing 6-month period | 12.79% | 5.49% | +7.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.04% | 6.47% | +9.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.26% | 6.64% | +11.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.41% | 6.22% | +14.19% |
RSPN vs. QAI - Expense Ratio Comparison
RSPN has a 0.40% expense ratio, which is lower than QAI's 0.79% expense ratio.
Dividends
RSPN vs. QAI - Dividend Comparison
RSPN's dividend yield for the trailing twelve months is around 1.03%, less than QAI's 1.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QAI IQ Hedge Multi-Strategy Tracker ETF | 1.37% | 1.50% | 2.22% | 4.08% | 2.00% | 0.28% | 1.98% | 1.91% | 1.90% | 0.00% | 0.00% | 0.48% |
RSPN Invesco S&P 500® Equal Weight Industrials ETF | 1.03% | 0.86% | 0.98% | 1.06% | 1.09% | 0.70% | 0.96% | 1.33% | 1.49% | 1.12% | 1.31% | 1.51% |
Frequently Asked Questions
RSPN and QAI have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RSPN has higher volatility (5.44%) compared to QAI (2.83%). In terms of maximum drawdown, RSPN dropped -59.61% vs QAI's -14.95%.
On 10-year performance, RSPN leads with 15.13% vs 4.06% for QAI. On fees, RSPN is cheaper at 0.40% per year. On volatility, QAI has been the lower-risk option at 2.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RSPN has performed better with a 15.13% return vs 4.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RSPN is cheaper with a 0.40% expense ratio, compared with 0.79% for QAI.
QAI has the higher dividend yield at 1.37%, compared with 1.03% for RSPN.
RSPN is categorized as Industrials Equities, while QAI is Long-Short. RSPN tracks S&P 500® Equal Weight Industrials Index, while QAI tracks IQ Hedge Multi-Strategy Index. They also come from different issuers: Invesco and New York Life. Their fees differ too: 0.40% for RSPN and 0.79% for QAI.
QAI currently has the higher Sharpe Ratio (2.64 vs 1.40), 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.
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