QAI vs CHI

Comparison between NYLI HEDGE MULTI-STRATEGY TRACKER ETF (QAI, ETF) and Calamos Convertible Opportunities and Income Fund (CHI, ETF).

5-Year PerformanceCHI has outperformed QAI, delivering a return of +7.3% compared to +4.5%

QAI vs CHI - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	QAI(ETF)	CHI(ETF)
Net Assets	$995M	$994M
Expense Ratio	0.88%	N/A
Max Drawdown	15.18%	73.29%
Sharpe Ratio	1.67	1.95
5Y Beta	0.36	0.74
5Y Dividends CAGR	-0.30%	3.60%

Net Assets

Winner

QAI

$995M

CHI

$994M

Expense Ratio

QAI

0.88%

CHI

N/A

Max Drawdown

Winner

QAI

15.18%

CHI

73.29%

Sharpe Ratio

QAI

1.67

Winner

CHI

1.95

5Y Beta

Winner

QAI

0.36

CHI

0.74

5Y Dividends CAGR

QAI

-0.30%

Winner

CHI

3.60%

QAI vs CHI - Historical Returns

Returns include dividend reinvestment.

Period	QAI	CHI
1 month	+0.61%	+5.21%
3 months	+6.69%	+20.41%
6 months	+8.10%	+25.11%
1 year	+15.12%	+42.41%
5 years(CAGR)	+4.50%	+7.33%
10 years(CAGR)	+3.85%	+13.32%
Max(CAGR)	+3.55%	+9.94%

QAI

+0.61%

Winner

CHI

+5.21%

QAI

+6.69%

Winner

CHI

+20.41%

QAI

+8.10%

Winner

CHI

+25.11%

QAI

+15.12%

Winner

CHI

+42.41%

5Y(CAGR)

QAI

+4.50%

Winner

CHI

+7.33%

10Y(CAGR)

QAI

+3.85%

Winner

CHI

+13.32%

Max(CAGR)

QAI

+3.55%

Winner

CHI

+9.94%

QAI vs CHI - Annual Returns (2002 - 2026)

Returns include dividend reinvestment.

Year	QAI	CHI
2026	+7.71%	+27.62%
2025	+8.05%	-0.88%
2024	+6.75%	+28.20%
2023	+10.07%	+8.22%
2022	-8.52%	-23.06%
2021	-0.29%	+22.30%
2020	+5.14%	+33.28%
2019	+8.57%	+31.79%
2018	-3.67%	-11.22%
2017	+6.14%	+20.10%
2016	+1.06%	+13.28%
2015	-2.46%	-15.64%
2014	+3.23%	+5.01%
2013	+4.89%	+19.38%
2012	+3.23%	+13.81%
2011	+0.11%	-6.66%
2010	+1.44%	+16.17%
2009	+8.60%	+54.80%
2008	N/A	-35.94%
2007	N/A	-19.79%
2006	N/A	+12.07%
2005	N/A	+5.58%
2004	N/A	+14.56%
2003	N/A	+47.19%
2002	N/A	+11.61%

QAI vs CHI Drawdown Comparison

The maximum drawdown for QAI was -14.95%, occurring on Oct 14, 2022. Recovery took 771 trading sessions.

The maximum drawdown for CHI was -64.58%, occurring on Nov 21, 2008. Recovery took 956 trading sessions.

The current QAI drawdown is -1.20%. The current CHI drawdown is -1.74%.

Rank	QAI	CHI
#1	-14.95% Feb 17, 2021 - Mar 12, 2024	-64.58% Jun 11, 2007 - Mar 25, 2011
#2	-14.11% Jan 17, 2020 - Aug 5, 2020	-49.56% Feb 19, 2020 - Aug 3, 2020
#3	-7.78% Feb 18, 2025 - Jun 27, 2025	-35.99% Nov 15, 2021 - Nov 20, 2024
#4	-7.67% Apr 16, 2015 - Oct 13, 2017	-33.85% Sep 14, 2018 - Feb 6, 2020
#5	-7.20% May 13, 2013 - Dec 31, 2013	-32.90% May 18, 2015 - Feb 8, 2017
#6	-6.59% Jan 26, 2018 - Oct 24, 2019	-27.52% Dec 30, 2024 - Oct 27, 2025
#7	-6.46% Jan 6, 2010 - Sep 24, 2010	-21.84% Jan 20, 2004 - Sep 10, 2004
#8	-4.67% Jul 3, 2014 - Feb 13, 2015	-18.00% Jun 3, 2011 - Feb 9, 2012
#9	-4.54% Jul 10, 2012 - May 6, 2013	-14.88% Feb 9, 2005 - Jul 28, 2005
#10	-4.16% Nov 4, 2010 - Apr 27, 2011	-12.89% Sep 13, 2002 - Nov 13, 2002
#11	-3.71% Feb 25, 2026 - Apr 13, 2026	-10.71% Feb 13, 2026 - Apr 8, 2026
#12	-3.65% Jul 22, 2011 - Oct 27, 2011	-10.47% May 21, 2013 - Oct 17, 2013
#13	-3.45% Jul 16, 2024 - Aug 30, 2024	-9.73% Sep 2, 2014 - Feb 25, 2015
#14	-3.26% Oct 27, 2011 - Feb 1, 2012	-9.31% Sep 1, 2020 - Oct 12, 2020
#15	-3.09% Feb 28, 2012 - Jul 10, 2012	-9.20% Oct 8, 2012 - Jan 10, 2013

Correlation

Correlation between QAI and CHI is 0.95 which considered as a very strong positive correlation - the stocks move almost identically together.

0.95

-101

Dividend Comparison (2002 - 2026)

QAI vs CHI dividend yield comparison.

Year	QAI	CHI
2026	0.00%	3.65%
2025	1.50%	10.88%
2024	2.22%	9.55%
2023	4.08%	11.00%
2022	2.00%	10.85%
2021	0.28%	7.54%
2020	1.98%	6.75%
2019	1.91%	8.49%
2018	1.90%	12.19%
2017	0.00%	10.19%
2016	0.00%	11.30%
2015	0.48%	11.50%
2014	1.34%	8.88%
2013	1.26%	8.60%
2012	1.11%	9.55%
2011	1.37%	10.12%
2010	1.51%	8.65%
2009	0.85%	9.25%
2008	0.00%	18.64%
2007	0.00%	12.46%
2006	0.00%	9.95%
2005	0.00%	10.57%
2004	0.00%	13.83%
2003	0.00%	10.26%
2002	0.00%	4.25%