AQRIX vs. QSPIX

Last updated Jun 23, 2026

AQRIX (AQR Multi-Asset Fund) and QSPIX (AQR Style Premia Alternative Fund) are both mutual funds - AQRIX is a Tactical Allocation fund managed by AQR Funds, while QSPIX is a Multistrategy fund managed by AQR Funds. Over the past 10 years, AQRIX returned 8.35%/yr vs 7.34%/yr for QSPIX. At a 0.07 correlation, their price movements are largely independent. AQRIX charges 0.80%/yr vs 1.49%/yr for QSPIX.

Performance

AQRIX vs. QSPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Multi-Asset Fund (AQRIX) 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, AQRIX achieves a 9.30% return, which is significantly lower than QSPIX's 11.56% return. Over the past 10 years, AQRIX has outperformed QSPIX with an annualized return of 8.35%, while QSPIX has yielded a comparatively lower 7.34% annualized return.

AQRIX

• 1D: 0.62%
• 1M: 0.54%
• YTD: 9.30%
• 6M: 9.75%
• 1Y: 20.52%
• 3Y*: 14.69%
• 5Y*: 8.94%
• 10Y*: 8.35%

QSPIX

• 1D: -0.21%
• 1M: 0.94%
• YTD: 11.56%
• 6M: 12.47%
• 1Y: 16.08%
• 3Y*: 19.14%
• 5Y*: 19.63%
• 10Y*: 7.34%

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

AQRIX vs. QSPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AQRIX AQR Multi-Asset Fund	9.30%	18.71%	10.45%	11.59%	-10.54%	14.35%	2.68%	21.03%	-6.95%	16.34%
QSPIX AQR Style Premia Alternative Fund	11.56%	14.82%	21.48%	12.46%	30.76%	24.93%	-21.96%	-8.22%	-12.35%	12.12%

Correlation

The correlation between AQRIX and QSPIX is 0.04, 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	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (10Y) Calculated over the trailing 10-year period	0.09
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.07

Return for Risk

AQRIX vs. QSPIX — Risk / Return Rank

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

AQRIX

AQRIX Risk / Return Rank: 54
AQRIX Sharpe Ratio Rank: 54
AQRIX Sortino Ratio Rank: 51
AQRIX Omega Ratio Rank: 51
AQRIX Calmar Ratio Rank: 54
AQRIX Martin Ratio Rank: 59

QSPIX

QSPIX Risk / Return Rank: 44
QSPIX Sharpe Ratio Rank: 36
QSPIX Sortino Ratio Rank: 39
QSPIX Omega Ratio Rank: 32
QSPIX Calmar Ratio Rank: 71
QSPIX Martin Ratio Rank: 41

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.

AQRIX vs. QSPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Multi-Asset Fund (AQRIX) 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.

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.

	AQRIX	QSPIX	Difference
Sharpe ratio: Return per unit of total volatility	2.01	1.61	+0.39
Sortino ratio: Return per unit of downside risk	2.76	2.43	+0.34
Omega ratio: Gain probability vs. loss probability	1.36	1.28	+0.08
Calmar ratio: Return relative to maximum drawdown	2.69	3.09	-0.41
Martin ratio: Return relative to average drawdown	11.06	8.32	+2.74

AQRIX vs. QSPIX - Sharpe Ratio Comparison

The current AQRIX Sharpe Ratio is 2.01, which is comparable to the QSPIX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of AQRIX 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.

Drawdowns

AQRIX vs. QSPIX - Drawdown Comparison

The maximum AQRIX drawdown since its inception was -19.37%, smaller than the maximum QSPIX drawdown of -41.37%. Use the drawdown chart below to compare losses from any high point for AQRIX and QSPIX.

Drawdown Indicators

	AQRIX	QSPIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.37%	-41.37%	+22.00%
Max Drawdown (1Y) Largest decline over 1 year	-7.48%	-5.09%	-2.39%
Max Drawdown (3Y) Largest decline over 3 years	-11.05%	-9.31%	-1.74%
Max Drawdown (5Y) Largest decline over 5 years	-19.37%	-17.13%	-2.24%
Max Drawdown (10Y) Largest decline over 10 years	-19.37%	-41.37%	+22.00%
Current Drawdown Current decline from peak	-1.36%	-2.13%	+0.77%
Average Drawdown Average peak-to-trough decline	-4.81%	-9.39%	+4.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	1.92%	-0.11%

Volatility

AQRIX vs. QSPIX - Volatility Comparison

AQR Multi-Asset Fund (AQRIX) and AQR Style Premia Alternative Fund (QSPIX) have volatilities of 3.48% and 3.48%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AQRIX	QSPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.48%	3.48%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	7.99%	7.11%	+0.88%
Volatility (1Y) Calculated over the trailing 1-year period	10.01%	9.75%	+0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.71%	15.86%	-5.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.82%	12.83%	-3.01%

AQRIX vs. QSPIX - Expense Ratio Comparison

AQRIX has a 0.80% expense ratio, which is lower than QSPIX's 1.49% expense ratio.

Dividends

AQRIX vs. QSPIX - Dividend Comparison

AQRIX's dividend yield for the trailing twelve months is around 3.53%, more than QSPIX's 2.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AQRIX AQR Multi-Asset Fund	3.53%	3.85%	1.72%	2.40%	6.82%	6.39%	1.09%	6.65%	7.36%	10.49%	7.08%	2.51%
QSPIX AQR Style Premia Alternative Fund	2.30%	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 AQRIX and QSPIX in my portfolio?

AQRIX and QSPIX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AQRIX or QSPIX?

QSPIX has higher volatility (3.48%) compared to AQRIX (3.48%). In terms of maximum drawdown, AQRIX dropped -19.37% vs QSPIX's -41.37%.

Which has better risk-adjusted returns?

AQRIX currently has the higher Sharpe Ratio (2.01 vs 1.61), 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.