ADAIX vs. QRPIX

Last updated Apr 1, 2026

Compare and contrast key facts about AQR Diversified Arbitrage Fund Class I (ADAIX) and AQR Alternative Risk Premia Fund (QRPIX).

ADAIX is an actively managed fund by AQR Funds. It was launched on Jan 15, 2009. QRPIX is managed by AQR Funds. It was launched on Sep 18, 2017.

Performance

ADAIX vs. QRPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Diversified Arbitrage Fund Class I (ADAIX) and AQR Alternative Risk Premia Fund (QRPIX). The values are adjusted to include any dividend payments, if applicable.

ADAIX vs. QRPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ADAIX AQR Diversified Arbitrage Fund Class I	0.78%	8.03%	3.19%	4.51%	-3.30%	6.27%	25.24%	8.53%	0.32%
QRPIX AQR Alternative Risk Premia Fund	8.52%	23.39%	18.85%	7.23%	25.26%	14.27%	-21.04%	-2.98%	-4.46%

Returns By Period

In the year-to-date period, ADAIX achieves a 0.78% return, which is significantly lower than QRPIX's 8.52% return.

ADAIX

• 1D: -0.15%
• 1M: 0.08%
• YTD: 0.78%
• 6M: 2.60%
• 1Y: 6.24%
• 3Y*: 5.17%
• 5Y*: 2.72%
• 10Y*: 6.75%

QRPIX

• 1D: 0.00%
• 1M: -0.80%
• YTD: 8.52%
• 6M: 13.42%
• 1Y: 20.08%
• 3Y*: 19.92%
• 5Y*: 17.54%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ADAIX vs. QRPIX - Expense Ratio Comparison

ADAIX has a 1.38% expense ratio, which is lower than QRPIX's 1.40% expense ratio.

QRPIX

AQR Alternative Risk Premia Fund

ADAIX

AQR Diversified Arbitrage Fund Class I

Return for Risk

ADAIX vs. QRPIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ADAIX

ADAIX Risk / Return Rank: 99
ADAIX Sharpe Ratio Rank: 100
ADAIX Sortino Ratio Rank: 99
ADAIX Omega Ratio Rank: 98
ADAIX Calmar Ratio Rank: 99
ADAIX Martin Ratio Rank: 99

QRPIX

QRPIX Risk / Return Rank: 82
QRPIX Sharpe Ratio Rank: 89
QRPIX Sortino Ratio Rank: 85
QRPIX Omega Ratio Rank: 87
QRPIX Calmar Ratio Rank: 79
QRPIX Martin Ratio Rank: 68

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ADAIX vs. QRPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Diversified Arbitrage Fund Class I (ADAIX) and AQR Alternative Risk Premia Fund (QRPIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ADAIX	QRPIX	Difference
Sharpe ratio Return per unit of total volatility	4.19	1.82	+2.37
Sortino ratio Return per unit of downside risk	6.86	2.23	+4.62
Omega ratio Gain probability vs. loss probability	2.06	1.37	+0.70
Calmar ratio Return relative to maximum drawdown	9.83	1.88	+7.95
Martin ratio Return relative to average drawdown	37.48	6.37	+31.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ADAIX vs. QRPIX - Sharpe Ratio Comparison

The current ADAIX Sharpe Ratio is 4.19, which is higher than the QRPIX Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of ADAIX and QRPIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ADAIX	QRPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.19	1.82	+2.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.02	1.50	-0.49
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.19	0.74	+0.44

Correlation

The correlation between ADAIX and QRPIX is -0.11. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

ADAIX vs. QRPIX - Dividend Comparison

ADAIX's dividend yield for the trailing twelve months is around 2.10%, more than QRPIX's 1.33% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADAIX AQR Diversified Arbitrage Fund Class I	2.10%	2.12%	1.23%	2.74%	0.10%	0.65%	1.60%	2.11%	6.53%	7.17%	7.18%	4.93%
QRPIX AQR Alternative Risk Premia Fund	1.33%	1.45%	2.24%	4.52%	0.00%	4.08%	1.98%	0.85%	0.09%	0.00%	0.00%	0.00%

Drawdowns

ADAIX vs. QRPIX - Drawdown Comparison

The maximum ADAIX drawdown since its inception was -14.75%, smaller than the maximum QRPIX drawdown of -28.45%. Use the drawdown chart below to compare losses from any high point for ADAIX and QRPIX.

Drawdown Indicators

	ADAIX	QRPIX	Difference
Max Drawdown Largest peak-to-trough decline	-14.75%	-28.45%	+13.70%
Max Drawdown (1Y) Largest decline over 1 year	-0.64%	-11.07%	+10.43%
Max Drawdown (5Y) Largest decline over 5 years	-7.40%	-11.29%	+3.89%
Max Drawdown (10Y) Largest decline over 10 years	-14.75%	—	—
Current Drawdown Current decline from peak	-0.31%	-0.93%	+0.62%
Average Drawdown Average peak-to-trough decline	-2.85%	-7.80%	+4.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.17%	3.26%	-3.09%

Volatility

ADAIX vs. QRPIX - Volatility Comparison

The current volatility for AQR Diversified Arbitrage Fund Class I (ADAIX) is 0.38%, while AQR Alternative Risk Premia Fund (QRPIX) has a volatility of 2.51%. This indicates that ADAIX experiences smaller price fluctuations and is considered to be less risky than QRPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADAIX	QRPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.38%	2.51%	-2.13%
Volatility (6M) Calculated over the trailing 6-month period	1.11%	6.47%	-5.36%
Volatility (1Y) Calculated over the trailing 1-year period	1.54%	11.44%	-9.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.69%	11.74%	-9.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.33%	10.36%	-6.03%