QAI ETF — IQ Hedge Multi-Strategy Tracker ETF

IQ Hedge Multi-Strategy Tracker ETF (QAI)

Updated October 16, 2026.

QAI is an ETF. its distribution rate is 1.41%, its trailing-12-month yield is 1.41%, its expense ratio is 0.81%. Dividend Vision Distribution Safety Score™ is 93/100 (Safe). Total return is 79.2% over the past 17.6 years, 1099.6 points behind SPY at 1178.8%.

IQ Hedge Multi-Strategy Tracker ETF is a fund of funds that allocates at least 80% of its assets to an index of underlying hedge funds, providing diversified exposure to multiple hedge fund strategies. The fund distributes income annually at a modest current rate, with an expense ratio of 0.81%. It appeals to investors seeking hedge fund diversification within a traditional ETF structure, though with expense levels reflecting both the underlying fund fees and the ETF's own costs.

QAI performance versus SPY

Price and return data through 2026-10-16.

Total return is 79.2% over the past 17.6 years, 1099.6 points behind SPY at 1178.8%. Over the past year its total return — price change plus distributions reinvested — is 7.2%. Its deepest 1-year drawdown was 3.7%.

QAI key facts

Distribution Safety Score™

93 · Safe

Safety-Adjusted Yield

1.31%

Issuer

New York Life Investments

Asset type

ETF

Asset class

Equity

Inception date

03/25/2009

Expense ratio

0.81%

Distribution rate

1.41%

Distribution frequency

Annual

Trailing yield

1.41%

Last close

$35.65 (as of 2026-10-16)

AUM

$1,001,487,060

Average volume

112889.0

Dividend

$0.504

Ex-dividend date

12/30/2025

Payment date

01/05/2026

Beta

0.39

How Dividend Vision calculates yield and returns

Distribution rate (1.41%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (1.41%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: New York Life Investments; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

QAI risks and drawbacks

QAI's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are annual, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 3.7%.

Who may consider QAI — and who may not

QAI may suit someone looking for a high Distribution Safety Score. It is a weaker fit for investors who need monthly cash flow (QAI pays annual); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on QAI

• All tickers starting with Q

Frequently asked questions

More securities from New York Life Investments.