Systematic. Rules-based. Independently calculated.
Available to license.
Qi Macro Indices are systematic, rules-based indices, each calculated and published independently with a daily NAV and full position-level transparency. Quant Insight licenses the index methodology and data; it does not manage assets, operate a fund or provide investment advice.
Qi China Alpha (KCAIQI)
Long-only on large-cap China / Asia stocks. Published and independently calculated since August 2024, when the KCAI ETF listed on the NYSE.
Live · published since Aug 2024
Qi Macro Risk Premia (QiMRP)
Long-only macro risk premia on US large-cap stocks, calculated and published by Solactive.
Live · Apr 2026
Qi Market Neutral Alpha (QiMNA)
The market-neutral long/short extension of QiMRP, calculated and published by Solactive.
Live · Jun 2026
Qi Multi-Sector Alpha (QiMSA)
The same engine, run sector by sector for diversification. To be published in September 2026.
In development
Designed as indices
Qi Macro Indices are transparent, rules-based benchmarks — independently calculated, with published methodology and a daily NAV. The points below describe the indices themselves.
Independently calculated
Each index is calculated and published independently by Solactive to a documented, rules-based methodology, with a daily NAV.
Fully transparent
Construction is rules-based with position-level transparency at the index level — no discretionary overrides and no style drift.
Market-neutral by construction
QiMNA is a systematic long/short index with a return stream largely independent of market direction — ~7% simulated correlation to the S&P 500.
Available to license
Offered as licensable index data and methodology under a simple licence. Quant Insight does not operate or market a fund and does not manage client assets.
Independently published
KCAIQI has been published and independently calculated on Bloomberg since the KCAI ETF listed on the NYSE in August 2024.
Systematic and rules-based
Selection and rebalancing follow fixed, published rules — repeatable, systematic and free of key-man dependency.
Institutional credibility.
Qi models are distributed through Goldman Sachs Marquee and FactSet. The construction IP was developed with researchers from Cambridge University's Cavendish Astrophysics Laboratory.
Qi Market Neutral Alpha
Market-neutral, independent of direction
A systematic, market-neutral long/short index on the US large-cap universe.
Two sub-portfolios — one macro, one idiosyncratic — are cross-cancelled against the market and levered to a risk target, giving a return stream with low correlation to equity markets.
15.1% volatility · −15.0% maximum drawdown · 62% of months positive · 83% of rolling 12-month periods positive.
The index targets a risk level, with average gross exposure around 329%. Leverage amplifies index losses as well as gains.
Independently calculated by Solactive · daily NAV · full position-level transparency.
Basis. Figures are simulated from January 2016; the QiMNA index went live in June 2026 and the live track record to date is short. Returns are gross of financing, borrow, trading and licensing costs, and gross of fees; realised returns will be lower.
Qi Macro Risk Premia
Broad selection, not concentrated bets
A long-only, fully invested index that harvests the premium the market pays for macro risk.
Fully invested in US large-cap names, with a beta of ~1.0, a 10% single-stock cap and no leverage.
~3.2% tracking error · ~450 stocks · 30–35% monthly turnover.
Long-only and fully invested: the index carries the full drawdown of the underlying equity market.
Basis. Calculated by Solactive and published on Bloomberg from April 2026 · simulated, January 2016 – March 2026, gross of costs.
Five engines, then set the product.
Macro Share of Risk
Proprietary modelling splits every stock’s total volatility into a macro share and an idiosyncratic share — the signal the strategy trades on.
Macro Premia Framework
Each month allocate to one of three states: Macro (high/rising MSR), Idio (low/falling MSR), or a Safety Buffer when signals are ambiguous.
Portable Alpha
Inside the Idio sleeve, tilt toward names whose entity-specific returns are already being realised.
Tail Guardrails
Override into low- or high-volatility portfolios when market-wide macro risk reaches its tails — risk management and convexity.
Return Stacking
Layer the engines into one long-only return stream — the shared base of every Macro Index.
Set the product
Independent Publication — QiMRP
Solactive calculates and publishes the long-only index; you implement it in the wrapper of your choice.
Market-Neutral Cross-Cancellation — QiMNA
Cancel positions overlapping the S&P 500 and lever the residual long/short book to a risk target, run as a TRS on margin.
Editorial guard: nothing on this page describes the indices as derived from, or sharing a model with, MFERM. Keep it that way — the construction IP boundary is the reason this page is written in terms of strategy states and index rules rather than model outputs.
Important information — please read
This page is published by Quant Insight Limited (“Qi”) for general information about its systematic indices. It is not investment, legal, tax or other advice, and is not an offer, solicitation, recommendation or inducement to buy, sell or invest in any security, strategy or product, in any jurisdiction. Nothing here is directed at any person in any jurisdiction where such publication or use would be contrary to local law or regulation. Qi licenses index intellectual property and data; it does not manage client assets, operate or market a fund, execute trades or provide investment advice, and it is not registered as an investment adviser with the U.S. Securities and Exchange Commission or authorised as an investment manager in any jurisdiction. The indices are calculated and published independently by Solactive AG. Performance is predominantly simulated / backtested: QiMNA went live in June 2026, QiMRP in April 2026, and the Qi China Alpha Index (KCAIQI) has been published and independently calculated since August 2024; the live records are short. Simulated performance is derived by applying the published methodology to point-in-time inputs, does not represent actual trading and has inherent limitations. Annualised returns and volatility use Qi's house convention — the average monthly figure multiplied by 12 (arithmetic, not compounded); relative figures are versus the stated ex-post benchmark. All index performance is shown gross of any financing, borrow, trading, licensing and management costs, which would reduce returns. Past or simulated performance is not a guarantee of future results; indices can fall as well as rise, and QiMNA uses leverage, which amplifies gains and losses. The KCAI ETF is a product of KraneShares, referenced only as evidence the methodology is licensed and in production; it is not offered or marketed by Qi and its returns are not those of the index.
