- Issuer
- AQR
- Inception Date
- Sep 19, 2017
- Category
- Multistrategy
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
Share Price Chart
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Performance
QRPNX Performance Chart
AQR Alternative Risk Premia Fund Class N (QRPNX) is up 21.9% since the beginning of the year. QRPNX is currently trading at $17 per share. Investors who bought $1,000 worth of QRPNX shares 5 years ago would now be looking at an investment worth $2,445.
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Returns By Period
AQR Alternative Risk Premia Fund Class N (QRPNX) has returned 21.85% so far this year and 36.92% over the past 12 months.
AQR Alternative Risk Premia Fund Class N
- 1D
- 0.18%
- 1M
- 5.66%
- 6M
- 16.71%
- YTD
- 21.85%
- 1Y
- 36.92%
- 3Y*
- 22.50%
- 5Y*
- 19.58%
- 10Y*
- —
- ALL TIME*
- 8.64%
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%
QRPNX Monthly Returns History
Based on dividend-adjusted daily data since May 21, 2018, QRPNX's average daily return is +0.04%, while the average monthly return is +0.73%. At this rate, an investment would double in approximately 7.9 years.
Historically, 56% of months were positive and 44% were negative. The best month was Jan 2024 with a return of +8.0%, while the worst month was Mar 2023 at -5.9%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 10 months.
On a daily basis, QRPNX closed higher 50% of trading days. The best single day was Dec 23, 2021 with a return of +3.9%, while the worst single day was Apr 4, 2025 at -5.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.40% | 4.78% | -0.34% | 4.30% | 2.90% | -0.13% | 4.27% | 21.85% | |||||
| 2025 | 4.19% | 5.57% | 1.30% | -4.96% | 1.18% | 2.08% | 1.55% | 1.61% | 4.51% | 3.40% | 0.59% | 0.35% | 23.09% |
| 2024 | 7.99% | 4.51% | 6.80% | 0.77% | 1.96% | -3.02% | 0.09% | -1.38% | 0.26% | -3.66% | 2.08% | 1.48% | 18.64% |
| 2023 | 0.53% | 4.44% | -5.88% | 1.40% | -2.34% | 6.52% | -0.71% | 4.32% | 7.00% | -1.93% | -1.13% | -4.53% | 6.94% |
| 2022 | 7.04% | -0.50% | -0.12% | 7.24% | 5.59% | -2.43% | -2.71% | 1.63% | 0.69% | 7.72% | -0.32% | -0.63% | 24.83% |
| 2021 | 0.73% | 1.01% | 6.88% | -0.54% | 0.67% | -0.54% | 2.29% | -0.13% | -0.00% | -2.90% | 0.14% | 6.01% | 14.04% |
Benchmark Metrics
AQR Alternative Risk Premia Fund Class N has an annualized alpha of 9.05%, 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 16.26% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -17.79%) - 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
- 9.05%
- Beta
- 0.01
- R²
- 0.00
- Upside Capture
- 16.26%
- Downside Capture
- -17.79%
Expense Ratio
QRPNX has a high expense ratio of 5.29%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
QRPNX 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 N (QRPNX) 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.
| QRPNX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.33 | ||
| Sortino ratioReturn per unit of downside risk | +3.43 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.25 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 9.77 | 2.00 | +7.77 |
| Martin ratioReturn relative to average drawdown | 26.32 | 8.49 | +17.83 |
Dividends
Dividend History
AQR Alternative Risk Premia Fund Class N provided a 0.93% dividend yield over the last twelve months, with an annual payout of $0.16 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.16 | $0.16 | $0.23 | $0.42 | $0.00 | $0.29 | $0.14 | $0.05 | $0.01 |
Dividend yield | 0.93% | 1.14% | 2.04% | 4.33% | 0.00% | 3.84% | 1.98% | 0.57% | 0.07% |
Monthly Dividends
The table displays the monthly dividend distributions for AQR Alternative Risk Premia Fund Class N. 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 | $0.16 | $0.16 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.23 | $0.23 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.42 | $0.42 |
| 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 | $0.29 | $0.29 |
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 N. 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 N was 28.78%, occurring on Dec 8, 2020. Recovery took 368 trading sessions.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-28.78%Dec 2020 | 2y 6mo | 1y 5mo | 4y 3dMay 2018 - May 2022 | — |
-11.22%Aug 2024 | 2mo 3d | 6mo 3d | 8mo 6dJun 2024 - Feb 2025 | — |
-11.01%Apr 2025 | 6d | 4mo 5d | 4mo 11dApr 2025 - Aug 2025 | 2025 selloff2025 |
-9.94%Aug 2022 | 1mo 20d | 2mo 11d | 4mo 1dJun 2022 - Oct 2022 | Bear market2022 |
-8.94%Dec 2023 | 3mo | 1mo 9d | 4mo 9dSep 2023 - Feb 2024 | — |
Drawdown Indicators
| QRPNX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.78% | -56.78% | +28.00% |
Max Drawdown (1Y)Largest decline over 1 year | -3.62% | -9.10% | +5.48% |
Max Drawdown (3Y)Largest decline over 3 years | -11.22% | -18.90% | +7.68% |
Max Drawdown (5Y)Largest decline over 5 years | -11.22% | -25.43% | +14.21% |
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 | -7.72% | -10.70% | +2.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.34% | 2.14% | -0.80% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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