AQGNX vs. QSPIX

Last updated Jun 4, 2026

AQGNX (AQR Global Equity Fund Class N) and QSPIX (AQR Style Premia Alternative Fund) are both mutual funds - AQGNX is a Global Equities fund tracking the MSCI World Net Total Return USD Index, while QSPIX is a Multistrategy fund managed by AQR Funds. Over the past 10 years, AQGNX returned 13.21%/yr vs 7.41%/yr for QSPIX. At a 0.06 correlation, their price movements are largely independent. AQGNX charges 1.07%/yr vs 1.49%/yr for QSPIX.

Performance

AQGNX vs. QSPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Global Equity Fund Class N (AQGNX) and AQR Style Premia Alternative Fund (QSPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AQGNX achieves a 13.76% return, which is significantly higher than QSPIX's 12.83% return. Over the past 10 years, AQGNX has outperformed QSPIX with an annualized return of 13.21%, while QSPIX has yielded a comparatively lower 7.41% annualized return.

AQGNX

• 1D: 0.00%
• 1M: 7.23%
• YTD: 13.76%
• 6M: 15.86%
• 1Y: 33.69%
• 3Y*: 28.13%
• 5Y*: 15.41%
• 10Y*: 13.21%

QSPIX

• 1D: 0.00%
• 1M: 1.14%
• YTD: 12.83%
• 6M: 14.84%
• 1Y: 17.81%
• 3Y*: 21.40%
• 5Y*: 18.92%
• 10Y*: 7.41%

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

AQGNX vs. QSPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AQGNX AQR Global Equity Fund Class N	13.76%	31.37%	24.14%	22.74%	-14.45%	18.04%	8.96%	22.24%	-14.69%	25.02%
QSPIX AQR Style Premia Alternative Fund	12.83%	14.82%	21.48%	12.46%	30.76%	24.93%	-21.96%	-8.22%	-12.35%	12.12%

Correlation

The correlation between AQGNX and QSPIX is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	-0.01
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.06

Return for Risk

AQGNX vs. QSPIX — Risk / Return Rank

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

AQGNX

AQGNX Risk / Return Rank: 76
AQGNX Sharpe Ratio Rank: 79
AQGNX Sortino Ratio Rank: 74
AQGNX Omega Ratio Rank: 68
AQGNX Calmar Ratio Rank: 77
AQGNX Martin Ratio Rank: 84

QSPIX

QSPIX Risk / Return Rank: 50
QSPIX Sharpe Ratio Rank: 42
QSPIX Sortino Ratio Rank: 46
QSPIX Omega Ratio Rank: 38
QSPIX Calmar Ratio Rank: 78
QSPIX Martin Ratio Rank: 45

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.

AQGNX vs. QSPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Global Equity Fund Class N (AQGNX) and AQR Style Premia Alternative Fund (QSPIX). 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.

	AQGNX	QSPIX	Difference
Sharpe ratio Return per unit of total volatility	2.59	1.89	+0.70
Sortino ratio Return per unit of downside risk	3.60	2.84	+0.75
Omega ratio Gain probability vs. loss probability	1.46	1.32	+0.14
Calmar ratio Return relative to maximum drawdown	3.46	3.57	-0.11
Martin ratio Return relative to average drawdown	15.81	9.50	+6.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AQGNX vs. QSPIX - Sharpe Ratio Comparison

The current AQGNX Sharpe Ratio is 2.59, which is higher than the QSPIX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of AQGNX and QSPIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AQGNX	QSPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	1.89	+0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	1.20	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.58	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.62	-0.04

Drawdowns

AQGNX vs. QSPIX - Drawdown Comparison

The maximum AQGNX drawdown since its inception was -35.76%, smaller than the maximum QSPIX drawdown of -41.37%. Use the drawdown chart below to compare losses from any high point for AQGNX and QSPIX.

Drawdown Indicators

	AQGNX	QSPIX	Difference
Max Drawdown Largest peak-to-trough decline	-35.76%	-41.37%	+5.61%
Max Drawdown (1Y) Largest decline over 1 year	-9.90%	-5.09%	-4.81%
Max Drawdown (3Y) Largest decline over 3 years	-18.51%	-9.31%	-9.20%
Max Drawdown (5Y) Largest decline over 5 years	-29.72%	-17.13%	-12.59%
Max Drawdown (10Y) Largest decline over 10 years	-35.76%	-41.37%	+5.61%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.29%	-9.43%	+2.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.17%	1.91%	+0.26%

Volatility

AQGNX vs. QSPIX - Volatility Comparison

AQR Global Equity Fund Class N (AQGNX) has a higher volatility of 3.33% compared to AQR Style Premia Alternative Fund (QSPIX) at 3.15%. This indicates that AQGNX's price experiences larger fluctuations and is considered to be riskier than QSPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AQGNX	QSPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.33%	3.15%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	10.21%	7.19%	+3.02%
Volatility (1Y) Calculated over the trailing 1-year period	13.26%	9.61%	+3.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.18%	15.87%	+2.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.90%	12.82%	+5.08%

AQGNX vs. QSPIX - Expense Ratio Comparison

AQGNX has a 1.07% expense ratio, which is lower than QSPIX's 1.49% expense ratio.

Dividends

AQGNX vs. QSPIX - Dividend Comparison

AQGNX's dividend yield for the trailing twelve months is around 11.67%, more than QSPIX's 2.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AQGNX AQR Global Equity Fund Class N	11.67%	13.27%	13.26%	5.82%	4.30%	12.07%	1.08%	1.26%	4.74%	4.75%	10.16%	0.00%
QSPIX AQR Style Premia Alternative Fund	2.28%	2.57%	6.95%	23.77%	22.68%	12.78%	0.00%	1.62%	0.96%	7.08%	1.74%	5.83%

Frequently Asked Questions

Can I hold both AQGNX and QSPIX in my portfolio?

AQGNX and QSPIX have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AQGNX or QSPIX?

AQGNX has higher volatility (3.33%) compared to QSPIX (3.15%). In terms of maximum drawdown, AQGNX dropped -35.76% vs QSPIX's -41.37%.

Which has better risk-adjusted returns?

AQGNX currently has the higher Sharpe Ratio (2.59 vs 1.89), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.