- ISIN
- US00203H1804
- CUSIP
- 00203H180
- Issuer
- AQR
- Inception Date
- Sep 19, 2017
- Region
- Global (Broad)
- Category
- Multistrategy
- Min. Investment
- $5,000,000
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
Share Price Chart
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Performance
QRPIX Performance Chart
AQR Alternative Risk Premia Fund - Class I (QRPIX) is up 22.0% since the beginning of the year. QRPIX is currently trading at $17 per share. Investors who bought $1,000 worth of QRPIX shares 5 years ago would now be looking at an investment worth $2,473.
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Returns By Period
AQR Alternative Risk Premia Fund - Class I (QRPIX) has returned 21.98% so far this year and 37.27% over the past 12 months.
AQR Alternative Risk Premia Fund - Class I
- 1D
- 0.18%
- 1M
- 5.67%
- 6M
- 16.88%
- YTD
- 21.98%
- 1Y
- 37.27%
- 3Y*
- 22.75%
- 5Y*
- 19.85%
- 10Y*
- —
- ALL TIME*
- 8.89%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
QRPIX Monthly Returns History
Based on dividend-adjusted daily data since May 21, 2018, QRPIX's average daily return is +0.04%, while the average monthly return is +0.75%. At this rate, an investment would double in approximately 7.7 years.
Historically, 57% of months were positive and 43% were negative. The best month was Jan 2024 with a return of +7.9%, while the worst month was Mar 2023 at -5.8%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 9 months.
On a daily basis, QRPIX closed higher 49% of trading days. The best single day was Dec 23, 2021 with a return of +4.1%, while the worst single day was Apr 4, 2025 at -5.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.37% | 4.81% | -0.33% | 4.34% | 2.94% | -0.12% | 4.29% | 21.98% | |||||
| 2025 | 4.25% | 5.52% | 1.37% | -5.00% | 1.17% | 2.15% | 1.54% | 1.67% | 4.46% | 3.45% | 0.65% | 0.38% | 23.39% |
| 2024 | 7.92% | 4.58% | 6.84% | 0.77% | 2.03% | -3.07% | 0.09% | -1.37% | 0.26% | -3.63% | 2.15% | 1.51% | 18.85% |
| 2023 | 0.53% | 4.52% | -5.83% | 1.28% | -2.32% | 6.58% | -0.61% | 4.28% | 7.03% | -1.92% | -1.12% | -4.47% | 7.23% |
| 2022 | 7.14% | -0.49% | -0.12% | 7.33% | 5.67% | -2.52% | -2.70% | 1.73% | 0.68% | 7.67% | -0.21% | -0.63% | 25.26% |
| 2021 | 0.87% | 1.01% | 6.84% | -0.53% | 0.67% | -0.53% | 2.41% | -0.13% | -0.00% | -2.88% | 0.13% | 5.97% | 14.27% |
Benchmark Metrics
AQR Alternative Risk Premia Fund - Class I has an annualized alpha of 9.32%, beta of 0.01, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since May 21, 2018.
- This fund captured 16.70% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -18.45%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.01 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 9.32%
- Beta
- 0.01
- R²
- 0.00
- Upside Capture
- 16.70%
- Downside Capture
- -18.45%
Expense Ratio
QRPIX has a high expense ratio of 1.48%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
QRPIX ranks 98 for risk / return — above 98% of mutual funds peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for AQR Alternative Risk Premia Fund - Class I (QRPIX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| QRPIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.34 | ||
| Sortino ratioReturn per unit of downside risk | +3.45 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.25 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 9.92 | 2.00 | +7.92 |
| Martin ratioReturn relative to average drawdown | 26.79 | 8.49 | +18.30 |
Dividends
Dividend History
AQR Alternative Risk Premia Fund - Class I provided a 1.19% dividend yield over the last twelve months, with an annual payout of $0.20 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.20 | $0.20 | $0.25 | $0.44 | $0.00 | $0.31 | $0.14 | $0.08 | $0.01 |
Dividend yield | 1.19% | 1.45% | 2.24% | 4.52% | 0.00% | 4.08% | 1.98% | 0.85% | 0.09% |
Monthly Dividends
The table displays the monthly dividend distributions for AQR Alternative Risk Premia Fund - Class I. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.20 | $0.20 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.25 | $0.25 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.44 | $0.44 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.31 | $0.31 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the AQR Alternative Risk Premia Fund - Class I. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the AQR Alternative Risk Premia Fund - Class I was 28.45%, occurring on Dec 8, 2020. Recovery took 356 trading sessions.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-28.45%Dec 2020 | 2y 6mo | 1y 5mo | 3y 11moMay 2018 - May 2022 | — |
-11.29%Aug 2024 | 2mo 3d | 5mo 28d | 8mo 1dJun 2024 - Jan 2025 | — |
-11.07%Apr 2025 | 6d | 4mo 5d | 4mo 11dApr 2025 - Aug 2025 | 2025 selloff2025 |
-9.88%Aug 2022 | 1mo 20d | 2mo 11d | 4mo 1dJun 2022 - Oct 2022 | Bear market2022 |
-8.92%Mar 2023 | 8d | 4mo 26d | 5mo 4dMar 2023 - Aug 2023 | — |
Drawdown Indicators
| QRPIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.45% | -56.78% | +28.33% |
Max Drawdown (1Y)Largest decline over 1 year | -3.59% | -9.10% | +5.51% |
Max Drawdown (3Y)Largest decline over 3 years | -11.29% | -18.90% | +7.61% |
Max Drawdown (5Y)Largest decline over 5 years | -11.29% | -25.43% | +14.14% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.58% | +1.58% |
Average DrawdownAverage peak-to-trough decline | -7.52% | -10.70% | +3.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 2.14% | -0.81% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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