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QAI vs SPY

Comparison between NYLI HEDGE MULTI-STRATEGY TRACKER ETF (QAI, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed QAI, delivering a return of +13.3% compared to +4.2%

QAI vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
QAI
$969M
Winner
SPY
$735B
Expense Ratio
QAI
0.88%
Winner
SPY
0.09%
Max Drawdown
Winner
QAI
15.18%
SPY
56.47%
Sharpe Ratio
QAI
1.55
Winner
SPY
1.62
5Y Beta
Winner
QAI
0.36
SPY
1.00
P/E Ratio
QAI
N/A
SPY
28.99
Forward P/E
QAI
N/A
SPY
22.37
5Y Dividends CAGR
QAI
-0.30%
Winner
SPY
5.43%
5Y EPS CAGR
QAI
N/A
SPY
26.05%
Debt to Equity
QAI
N/A
SPY
32.40%
P/S Ratio
QAI
N/A
SPY
3.74
P/B Ratio
QAI
N/A
SPY
5.61

QAI vs SPY - Holdings Comparison

QAI and SPY have 1 common holdings. Overlap is -1.33%

QAI's top 25 holdings weight is 96.89%. SPY's top 25 holdings weight is 52.37%.

RankQAISPY
#1
ISHARES FLOATING RATE BOND ETF (FLOT) - 16.25%
NVIDIA CORP (NVDA) - 8.10%
#2
VANGUARD SHORT-TERM TREASURY ETF (VGSH) - 13.93%
APPLE INC (AAPL) - 7.02%
#3
VANGUARD FTSE DEVELOPED MARKETS ETF (VEA) - 7.28%
MICROSOFT CORP (MSFT) - 4.79%
#4
FRANKLIN SENIOR LOAN ETF (FLBL) - 6.48%
AMAZON.COM INC (AMZN) - 4.02%
#5
ISHARES CORE S&P SMALL-CAP ETF (IJR) - 5.12%
ALPHABET INC CLASS A (GOOGL) - 3.51%
#6
STATE STREET® SPDR® BLMBG INVGRDFLTRTETF (FLRN) - 4.89%
BROADCOM INC (AVGO) - 3.10%
#7
ISHARES MSCI EMERGING MKTS EX CHINA ETF (EMXC) - 4.39%
ALPHABET INC CLASS C (GOOG) - 2.79%
#8
ISHARES MSCI USA MOMENTUM FACTOR ETF (MTUM) - 3.99%
META PLATFORMS INC CLASS A (META) - 2.08%
#9
STATE STREET® SPDR® BLMBG CNVRT SECS ETF (CWB) - 3.64%
TESLA INC (TSLA) - 1.89%
#10
ISHARES CONVERTIBLE BOND ETF (ICVT) - 3.21%
MICRON TECHNOLOGY INC (MU) - 1.56%
#11
NYLI MERGER ARBITRAGE ETF (MNA) - 2.92%
BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37%
#12
JPMORGAN EQUITY PREMIUM INCOME ETF (JEPI) - 2.70%
ELI LILLY AND CO (LLY) - 1.31%
#13
VANGUARD TAX-EXEMPT BOND ETF (VTEB) - 2.63%
JPMORGAN CHASE & CO (JPM) - 1.28%
#14
ISHARES NATIONAL MUNI BOND ETF (MUB) - 2.58%
ADVANCED MICRO DEVICES INC (AMD) - 1.27%
#15
GLOBAL X US PREFERRED ETF (PFFD) - 2.55%
EXXON MOBIL CORP (XOM) - 0.97%
#16
IMGP DBI MANAGED FUTURES STRATEGY ETF (DBMF) - 2.12%
INTEL CORP (INTC) - 0.90%
#17
INVESCO DB AGRICULTURE (DBA) - 1.95%
JOHNSON & JOHNSON (JNJ) - 0.86%
#18
VANGUARD MORTGAGE-BACKED SECS ETF (VMBS) - 1.86%
VISA INC CLASS A (V) - 0.85%
#19
INVESCO OPTM YD DVRS CDTY STRA NO K1 ETF (PDBC) - 1.57%
WALMART INC (WMT) - 0.81%
#20
STATE STREET® COMMSERVSELSECTSPDR®ETF (XLC) - 1.53%
CISCO SYSTEMS INC (CSCO) - 0.72%
#21
REC FLOT US LML (n/a) - 1.33%
COSTCO WHOLESALE CORP (COST) - 0.69%
#22
SIMPLIFY MANAGED FUTURES STRATEGY ETF (CTA) - 1.23%
CATERPILLAR INC (CAT) - 0.66%
#23
ALTSHARES MERGER ARBITRAGE ETF (ARB) - 1.10%
MASTERCARD INC CLASS A (MA) - 0.62%
#24
ISHARES MSCI CHINA ETF (MCHI) - 0.88%
LAM RESEARCH CORP (LRCX) - 0.62%
#25
FRANKLIN FTSE INDIA ETF (FLIN) - 0.76%
ABBVIE INC (ABBV) - 0.58%
Total Holdings76505

QAI vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
QAI
+0.00%
Winner
SPY
+1.90%
3M
QAI
+4.30%
Winner
SPY
+8.55%
6M
QAI
+7.52%
Winner
SPY
+8.18%
1Y
QAI
+13.91%
Winner
SPY
+25.79%
5Y(CAGR)
QAI
+4.19%
Winner
SPY
+13.32%
10Y(CAGR)
QAI
+3.75%
Winner
SPY
+15.19%
Max(CAGR)
QAI
+3.49%
Winner
SPY
+8.47%

QAI vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearQAISPY
2026+6.40%+8.26%
2025+8.05%+18.00%
2024+6.75%+25.59%
2023+10.07%+26.72%
2022-8.52%-18.64%
2021-0.29%+30.52%
2020+5.14%+17.28%
2019+8.57%+31.09%
2018-3.67%-5.24%
2017+6.14%+20.78%
2016+1.06%+13.59%
2015-2.46%+1.31%
2014+3.23%+14.56%
2013+4.89%+29.00%
2012+3.23%+14.17%
2011+0.11%+0.85%
2010+1.44%+13.14%
2009+8.60%+22.67%
2008N/A-36.25%
2007N/A+5.32%
2006N/A+13.85%
2005N/A+5.32%
2004N/A+10.75%
2003N/A+24.18%
2002N/A-22.42%
2001N/A-10.13%
2000N/A-8.84%
1999N/A+8.61%

QAI vs SPY Drawdown Comparison

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

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current QAI drawdown is -2.13%. The current SPY drawdown is -2.90%.

RankQAISPY
#1-14.95%
Feb 17, 2021 - Mar 12, 2024		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-14.11%
Jan 17, 2020 - Aug 5, 2020		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-7.78%
Feb 18, 2025 - Jun 27, 2025		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-7.67%
Apr 16, 2015 - Oct 13, 2017		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-7.20%
May 13, 2013 - Dec 31, 2013		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-6.59%
Jan 26, 2018 - Oct 24, 2019		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-6.46%
Jan 6, 2010 - Sep 24, 2010		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-4.67%
Jul 3, 2014 - Feb 13, 2015		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-4.54%
Jul 10, 2012 - May 6, 2013		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-4.16%
Nov 4, 2010 - Apr 27, 2011		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11-3.71%
Feb 25, 2026 - Apr 13, 2026		-9.05%
Jul 19, 2007 - Oct 5, 2007
#12-3.65%
Jul 22, 2011 - Oct 27, 2011		-8.88%
Jan 27, 2026 - Apr 14, 2026
#13-3.45%
Jul 16, 2024 - Aug 30, 2024		-8.41%
Jul 16, 2024 - Sep 19, 2024
#14-3.26%
Oct 27, 2011 - Feb 1, 2012		-7.35%
Sep 14, 2012 - Jan 2, 2013
#15-3.09%
Feb 28, 2012 - Jul 10, 2012		-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between QAI and SPY is 0.97 which considered as a very strong positive correlation - the stocks move almost identically together.

0.97
-101

Dividend Comparison (1999 - 2026)

QAI vs SPY dividend yield comparison.

YearQAISPY
20260.00%0.24%
20251.50%1.07%
20242.22%1.21%
20234.08%1.40%
20222.00%1.65%
20210.28%1.20%
20201.98%1.52%
20191.91%1.75%
20181.90%2.04%
20170.00%1.80%
20160.00%2.03%
20150.48%2.06%
20141.34%1.87%
20131.26%1.81%
20121.11%2.18%
20111.37%2.05%
20101.51%1.80%
20090.85%1.95%
20080.00%3.02%
20070.00%1.85%
20060.00%1.73%
20050.00%1.73%
20040.00%1.82%
20030.00%1.47%
20020.00%1.70%
20010.00%1.25%
20000.00%1.15%
19990.00%0.24%

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