IVV vs QAI
iShares Core S&P 500 ETF vs NYLIM Hedge Multi-Strategy Tracker ETF
Which is better, IVV or QAI?
Large Cap Blend against Multi Alternative.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 70.1%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | IVV | QAI |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.88% |
| AUM | $876.4B | $1.0B |
| Dividend Yield | 1.06% | 1.39% |
| Holdings | 508 | 129 |
| YTD Return | +12.39%Best | +7.14% |
| 1Y Return | +16.61%Best | +9.07% |
| 3Y Return (annualized) | +21.38%Best | +8.00% |
| 5Y Return (annualized) | +13.51%Best | +4.15% |
| Volatility (annualized) | 14.5% | 5.2%Best |
| Max Drawdown | -33.9% | -14.9%Best |
| $10,000 over 5 years | $18,844Best | $12,255 |
| Top 10 Weight | 37.8%Best | 70.1% |
| Fund Family | iShares by BlackRock (US) | New York Life Investments |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Multi Alternative |
| Inception | May 15, 2000 | Mar 25, 2009 |
Volatility and max drawdown are measured over the window both funds cover: Mar 25, 2009 to Sep 18, 2026 (17.5 years).
IVV vs QAI growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
IVV vs QAI Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and NYLIM Hedge Multi-Strategy Tracker ETF (QAI) is an ETF from New York Life Investments. Over the past year IVV returned +16.61% while QAI returned +9.07%. Year to date, IVV is up 12.39% versus a gain of 7.14% for QAI.
Over three years, IVV compounded at +21.38% per year against +8.00% for QAI; over five years the annualized figures are +13.51% and +4.15% respectively. Across the full 18-year window we track, IVV has the edge at +14.18% annualized vs +3.34%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 14.5% 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 -33.9% for IVV and -14.9% for QAI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 1.06% against 1.39% for QAI.
Holdings Overlap
We hold position weights for 490 holdings in IVV and 33 in QAI, totalling 99.3% and 100.1% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 490 positions we hold weights for in IVV and 33 in QAI, against full books of 508 and 129.
What only one of them owns
Our book lists 33 positions for QAI that do not appear in our book for IVV (100.1% of the fund), and 482 for IVV that do not appear in QAI (98.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of IVV and QAI you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
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, by $85 a year on a $10,000 investment.
Which performed better, IVV or QAI?
Over the past year IVV returned +16.61% vs +9.07% for QAI, so IVV leads on 1-year performance. Over the longest common window we track (18 years), IVV annualized +14.18% vs +3.34% for QAI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or QAI?
IVV has been the more volatile fund at 14.5% annualized versus 5.2% for QAI. Worst drawdown: IVV -33.9% vs QAI -14.9%.
Should I hold both IVV and QAI?
IVV and QAI have a monthly-return correlation of 0.83, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, IVV or QAI?
IVV yields 1.06% while QAI yields 1.39%, so QAI currently pays the higher dividend yield.
Is QAI better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 70.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.