IQ Hedge Multi-Strategy Tracker ETF (QAI) Performance
QAI total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +6.0% since Dec 31, 2025
- 1 year
- +6.5% total return
- 5 years
- +4.1% a year
- 10 years
- +3.7% a year
- Since first price
- +3.4% a year since 2009
QAI trailing returns vs AGG, TLT, SPY
| Period | QAI total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −2.2% | −2.2% | +0.9% | +1.5% | −1.0% |
| 3 months | −1.5% | −1.5% | −0.4% | −1.0% | +3.2% |
| 6 months | +0.4% | +0.4% | −1.5% | −3.8% | +7.8% |
| YTD | +6.0% | +6.0% | −1.0% | −3.4% | +12.3% |
| 1 year | +6.5% | +5.0% | −1.1% | −6.9% | +14.4% |
| 3 years | +29.3%+8.9%/yr | +19.8% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +22.0%+4.1%/yr | +10.4% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +43.3%+3.7%/yr | +22.5% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| 15 years | +59.9%+3.2%/yr | +29.4% | +32.2%+1.9%/yr | +9.9%+0.6%/yr | +696.0%+14.8%/yr |
| Since inceptionMar 25, 2009 | +78.5%+3.4%/yr | +41.0% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: QAI vs AGG
From Mar 25, 2009: QAI grew to $17,851, AGG to $15,853.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
QAI returns by calendar year
12 of 16 full years positive. Best 2023 (+10.1%), worst 2022 (−8.7%). 2026 is year to date.
QAI annual returns table
| Year | QAI | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +6.0% | −3.7% | −1.0% | −3.4% | +12.3% |
| 2025 | +8.3% | −7.8% | +7.2% | +4.3% | +17.7% |
| 2024 | +6.7% | −3.5% | +1.3% | −8.1% | +24.9% |
| 2023 | +10.1% | −3.4% | +5.7% | +2.8% | +26.2% |
| 2022 | −8.7% | −12.9% | −13.0% | −31.2% | −18.2% |
| 2021 | −0.2% | −3.7% | −1.8% | −4.6% | +28.7% |
| 2020 | +5.7% | −14.1% | +7.5% | +18.2% | +18.3% |
| 2019 | +8.7% | −1.8% | +8.5% | +14.1% | +31.2% |
| 2018 | −3.3% | −6.6% | +0.1% | −1.6% | −4.6% |
| 2017 | +6.2% | −1.0% | +3.6% | +9.2% | +21.7% |
| 2016 | +0.7% | −3.4% | +2.4% | +1.2% | +12.0% |
| 2015 | −2.7% | −5.7% | +0.5% | −1.8% | +1.2% |
| 2014 | +2.8% | −4.7% | +6.0% | +27.3% | +13.5% |
| 2013 | +5.5% | −7.2% | −2.0% | −13.4% | +32.3% |
| 2012 | +3.8% | −4.5% | +3.8% | +2.6% | +16.0% |
| 2011 | +0.2% | −3.6% | +7.7% | +34.0% | +1.9% |
| 2010 | +2.6% | −6.5% | +6.4% | +9.0% | +15.1% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
QAI largest drawdowns
Now 3.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 17, 2021 | −14.9% | Oct 14, 2022 | Mar 12, 2024 | 1.7 years | 3.1 years |
| Jan 17, 2020 | −14.1% | Mar 23, 2020 | Aug 5, 2020 | 2 months | 7 months |
| Feb 18, 2025 | −7.8% | Apr 8, 2025 | Jun 26, 2025 | 49 days | 4 months |
| Apr 16, 2015 | −7.7% | Feb 11, 2016 | Oct 13, 2017 | 10 months | 2.5 years |
| May 13, 2013 | −7.2% | Jun 24, 2013 | Dec 31, 2013 | 42 days | 8 months |
| Jan 26, 2018 | −6.6% | Dec 24, 2018 | Oct 24, 2019 | 11 months | 1.7 years |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
QAI risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2009 |
|---|---|---|---|---|
| Annualized return | +9.0% | +4.6% | +3.7% | +3.5% |
| Volatility (annualized) | 5.2% | 6.0% | 5.5% | 5.1% |
| Sharpe ratio | 0.86 | 0.19 | 0.28 | 0.45 |
| Sortino ratio | 1.51 | 0.28 | 0.40 | 0.68 |
| Best month | +4.6% | +4.6% | +4.6% | +4.6% |
| Worst month | −2.2% | −4.0% | −5.6% | −5.6% |
| Best 12 months | +16.1% | +16.1% | +16.1% | +16.1% |
| Worst 12 months | +3.6% | −12.4% | −12.4% | −12.4% |
| Positive months | 67% | 57% | 61% | 59% |
| Beta vs S&P 500 | 0.36 | 0.34 | 0.31 | — |
| Correlation with S&P 500 | 0.87 | 0.88 | 0.87 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
QAI rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 200 | −12.4% | +3.5% | +16.1% | 80% |
| 3-year (a year) | 176 | −1.7% | +2.5% | +10.5% | 95% |
| 5-year (a year) | 152 | −0.3% | +2.3% | +4.6% | 98% |
| 10-year (a year) | 92 | +0.9% | +2.3% | +3.9% | 100% |
Every holding period starting at a month-end since 2009. Returns for 3 years and longer are annualized.
QAI performance overview
IQ Hedge Multi-Strategy Tracker ETF (QAI) returned +6.5% over the past year and +3.7% a year over ten years, with distributions reinvested. Since its first recorded price in 2009 it has returned +3.4% a year, turning $10,000 into about $17,851. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −14.9%, from Feb 17, 2021 to Oct 14, 2022, and it took 1.4 years to get back to the old high. QAI finished 12 of its 16 full calendar years with a gain; the best year was 2023 (+10.1%) and the worst 2022 (−8.7%). Volatility has been 5.1% a year.
Related: QAI chart, QAI dividends, QAI bond profile. See the QAI overview for the latest quote and fund facts.
QAI performance FAQ
What is the QAI return over the past year?
QAI returned +6.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 5.0%.
What is the average annual return of QAI?
QAI has returned +4.1% a year over 5 years, +3.7% a year over 10 years, +3.4% a year since March 25, 2009 (total return, distributions reinvested).
How much would $10,000 invested in QAI be worth?
$10,000 invested in QAI at its first recorded close on March 25, 2009 would be worth about $17,851 on October 23, 2026 with distributions reinvested.
What was the worst year for QAI?
The worst calendar year was 2022, with a total return of −8.7%. The best was 2023 at +10.1%.
What is the biggest drawdown of QAI?
The largest peak-to-trough decline was −14.9% between February 17, 2021 and October 14, 2022. It recovered to the old high on March 12, 2024, 1.4 years after the bottom.
How volatile is QAI?
Over the past 3 years QAI had an annualized volatility of 5.2% and a Sharpe ratio of 0.86 (excess return over 1–3 month T-bills per unit of risk).