IVV vs QAI
iShares Core S&P 500 ETF vs NYLI Hedge Multi-Strategy Tracker ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | QAI | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.88% | |
| AUM | $907.0B | $1.0B | |
| Dividend Yield | 1.10% | 1.40% | |
| Holdings | 508 | 129 | |
| YTD Return | +12.71% | +8.45% | |
| 1Y Return | +21.89% | +13.11% | |
| 3Y Return (annualized) | +22.08% | +8.89% | |
| 5Y Return (annualized) | +12.96% | +4.37% | |
| Volatility (annualized) | 15.1% | 5.2% | |
| Max Drawdown | -56.5% | -14.9% | |
| Fund Family | iShares by BlackRock (US) | INDEXIQ ETF TRUST | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | Mar 25, 2009 |
IVV vs QAI Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and NYLI Hedge Multi-Strategy Tracker ETF (QAI) is a ETF from INDEXIQ ETF TRUST. Over the past year IVV returned +21.89% while QAI returned +13.11%. Year to date, IVV is up 12.71% versus a gain of 8.45% for QAI.
Over three years, IVV compounded at +22.08% per year against +8.89% for QAI; over five years the annualized figures are +12.96% and +4.37% respectively. Across the full 17-year window we track, IVV has the edge at +7.00% annualized vs +3.43%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 5.2% for QAI. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for IVV and -14.9% for QAI. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while QAI charges 0.88%. On a $10,000 position that is $3 vs $88 annually, a gap of $85 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 1.40% for QAI.
Holdings Overlap
IVV and QAI share 0 holdings out of 538 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or QAI?
IVV has an expense ratio of 0.03% while QAI charges 0.88%. IVV is the cheaper option. On a $10,000 investment, that is $85 per year of difference.
Which performed better, IVV or QAI?
Over the past year IVV returned +21.89% vs +13.11% for QAI, so IVV leads on 1-year performance. Over the longest common window we track (17 years), IVV annualized +7.00% vs +3.43% for QAI. Past performance does not guarantee future results.
Which is riskier, IVV or QAI?
IVV has been the more volatile fund at 15.1% annualized versus 5.2% for QAI. Worst drawdown: IVV -56.5% vs QAI -14.9%.
Should I hold both IVV and QAI?
IVV and QAI have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and QAI?
IVV and QAI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 538 unique securities.
Which pays a higher dividend, IVV or QAI?
IVV yields 1.10% while QAI yields 1.40%, so QAI currently pays the higher dividend yield.
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