ETF Evaluator: NYLIM Hedge Multi-Strategy Tracker ETF () Follow This ETF

NYLIM Hedge Multi-Strategy Tracker ETF Overview

NYLIM Hedge Multi-Strategy Tracker ETF (QAI) is a passively managed Alternative Multistrategy exchange-traded fund (ETF). New York Life Investment Management LLC launched the ETF in 2009.

The investment seeks investment results that correspond generally to the price and yield performance of its underlying index, the NYLI Hedge Multi-Strategy Index. The fund is a “fund of funds” which means it will invest, under normal circumstances, at least 80% of its assets, (net assets plus the amount of any borrowings for investment purposes) in the investments included in its underlying index, which includes underlying funds. The Advisor is the index provider for the underlying index.

About NYLIM Hedge Multi-Strategy Tracker ETF (QAI)

There are 2 members of the management team with an average tenure of 9.38 years: Greg Barrato (2011) and Francis Ok (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell 3000 TR USD index with a weighting of 100%. NYLIM Hedge Multi-Strategy Tracker ETF has 118 securities in its portfolio. The top 10 holdings constitute 74.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

NYLIM Hedge Multi-Strategy Tracker ETF is part of the Alternative Strategies global asset class and is within the Alternative ETF group. NYLIM Hedge Multi-Strategy Tracker ETF has 31.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 18.7% There is 17.1% allocated to foreign stock, and 2.8% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 42.4% (28.2% domestic bond, 14.2% foreign bond and 4.5% convertible bond). NYLIM Hedge Multi-Strategy Tracker ETF has 9.2% of the portfolio in cash.

Assets Under Management

The fund has $990 million in total assets, which is above the $893 million average for the Multistrategy category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

QAI Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The NYLIM Hedge Multi-Strategy Tracker ETF expense ratio is high compared to funds in the Multistrategy category. NYLIM Hedge Multi-Strategy Tracker ETF has an expense ratio of 0.81%, which is 13% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. NYLIM Hedge Multi-Strategy Tracker ETF has a portfolio turnover rate of 55%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 91% for the Multistrategy category.

Recently, in the month of October 2026, NYLIM Hedge Multi-Strategy Tracker ETF returned -1.6%, which earned it a grade of F, as the Multistrategy category had an average return of -0.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

NYLIM Hedge Multi-Strategy Tracker ETF has a trailing yield of 1.42%, which is below the 3.51% category average. The fund normally distributes its income annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

NYLIM Hedge Multi-Strategy Tracker ETF Grades

Year to date, the ETF has returned 5.9%, 1.1 percentage points better than the category, which translates into a grade of C. The fund has returned 6.4% over the past year (grade of C), 8.9% over the past three years (grade of C) and 4.1% per year over the past five years (grade of C) and 3.7% per year over the past 10 years (grade of F).

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