SENT vs. QAI

Last updated Jun 3, 2026

SENT (AdvisorShares Alpha DNA Equity Sentiment ETF) and QAI (IQ Hedge Multi-Strategy Tracker ETF) are both Long-Short funds - SENT tracks the Actively Managed while QAI tracks the IQ Hedge Multi-Strategy Index. Both are passively managed. Over the past 5 years, SENT returned -4.30%/yr vs 4.57%/yr for QAI. At a 0.48 correlation, their price movements are largely independent. SENT charges 1.01%/yr vs 0.79%/yr for QAI.

Performance

SENT vs. QAI - Performance Comparison

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

Returns By Period

SENT

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 0.00%
• 3Y*: -3.03%
• 5Y*: -4.30%
• 10Y*: —

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%

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

SENT vs. QAI - Yearly Performance Comparison

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

Correlation

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

SENT vs. QAI - Sectors Allocation Comparison

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

Return for Risk

SENT vs. QAI — 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.

SENT vs. QAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Alpha DNA Equity Sentiment ETF (SENT) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SENT	QAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.74	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.34	0.70	-1.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.25	0.57	-0.82

Drawdowns

SENT vs. QAI - Drawdown Comparison

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

Drawdown Indicators

	SENT	QAI	Difference
Max Drawdown Largest peak-to-trough decline	-30.34%	-14.95%	-15.39%
Max Drawdown (1Y) Largest decline over 1 year	0.00%	-3.71%	+3.71%
Max Drawdown (3Y) Largest decline over 3 years	-15.83%	-7.78%	-8.05%
Max Drawdown (5Y) Largest decline over 5 years	-30.34%	-14.32%	-16.02%
Max Drawdown (10Y) Largest decline over 10 years	—	-14.95%	—
Current Drawdown Current decline from peak	-27.23%	-0.35%	-26.88%
Average Drawdown Average peak-to-trough decline	-20.89%	-2.57%	-18.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.90%	-0.90%

Volatility

SENT vs. QAI - Volatility Comparison

The current volatility for AdvisorShares Alpha DNA Equity Sentiment ETF (SENT) is 0.00%, while IQ Hedge Multi-Strategy Tracker ETF (QAI) has a volatility of 2.06%. This indicates that SENT experiences smaller price fluctuations and is considered to be less risky than QAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SENT	QAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	2.06%	-2.06%
Volatility (6M) Calculated over the trailing 6-month period	0.00%	4.91%	-4.91%
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	5.99%	-5.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.67%	6.55%	+6.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.32%	6.17%	+7.15%

SENT vs. QAI - Expense Ratio Comparison

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

Dividends

SENT vs. QAI - Dividend Comparison

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

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 SENT and QAI in my portfolio?

SENT and QAI 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, SENT or QAI?

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

Which ETF is better, SENT or QAI?

On 5-year performance, QAI leads with 4.57% vs -4.30% 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, SENT or QAI?

Over the 5-year period, QAI has performed better with a 4.57% return vs -4.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SENT or QAI?

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

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

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

What is the main difference between SENT and QAI?

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