DIAMX vs. QRPIX
DIAMX (Diamond Hill Long-Short Fund) and QRPIX (AQR Alternative Risk Premia Fund - Class I) are both mutual funds - DIAMX is a Long-Short fund managed by Diamond Hill, while QRPIX is a Multistrategy fund managed by AQR. Over the past 5 years, DIAMX returned 5.99%/yr vs 19.85%/yr for QRPIX. Their 0.02 correlation means their historical movements had little consistent relationship. DIAMX charges 1.36%/yr vs 1.48%/yr for QRPIX.
Performance
DIAMX vs. QRPIX - Performance Comparison
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Returns By Period
In the year-to-date period, DIAMX achieves a -3.47% return, which is significantly lower than QRPIX's 21.98% return.
DIAMX
- 1D
- -0.61%
- 1M
- 2.08%
- 6M
- -2.90%
- YTD
- -3.47%
- 1Y
- 5.43%
- 3Y*
- 10.00%
- 5Y*
- 5.99%
- 10Y*
- 7.08%
- ALL TIME*
- 6.67%
QRPIX
- 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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
DIAMX vs. QRPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DIAMX Diamond Hill Long-Short Fund | -3.47% | 18.76% | 9.93% | 12.14% | -8.75% | 19.04% | -0.56% | 22.80% | -5.93% |
QRPIX AQR Alternative Risk Premia Fund - Class I | 21.98% | 23.39% | 18.85% | 7.23% | 25.26% | 14.27% | -21.04% | -2.98% | -4.46% |
Correlation
The correlation between DIAMX and QRPIX is 0.12, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.12 |
Correlation (3Y) Balances recent behavior with more history. | 0.13 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.02 |
Correlation (All Time) Calculated using the full available price history since May 21, 2018 | 0.02 |
The correlation between DIAMX and QRPIX shifts across timeframes, from 0.02 (5 years) to 0.13 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
DIAMX vs. QRPIX — Risk / Return Rank
DIAMX
QRPIX
DIAMX vs. QRPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Diamond Hill Long-Short Fund (DIAMX) and AQR Alternative Risk Premia Fund - Class I (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.
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.
| DIAMX | QRPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.16 | ||
| Sortino ratioReturn per unit of downside risk | -4.50 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.67 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | 0.53 | 9.92 | -9.39 |
| Martin ratioReturn relative to average drawdown | 1.44 | 26.79 | -25.36 |
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Drawdowns
DIAMX vs. QRPIX - Drawdown Comparison
The maximum DIAMX drawdown since its inception was -40.92%, which is greater than QRPIX's maximum drawdown of -28.45%. Use the drawdown chart below to compare losses from any high point for DIAMX and QRPIX.
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Drawdown Indicators
| DIAMX | QRPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.92% | -28.45% | -12.47% |
Max Drawdown (1Y)Largest decline over 1 year | -9.06% | -3.59% | -5.47% |
Max Drawdown (3Y)Largest decline over 3 years | -9.06% | -11.29% | +2.23% |
Max Drawdown (5Y)Largest decline over 5 years | -16.96% | -11.29% | -5.67% |
Max Drawdown (10Y)Largest decline over 10 years | -31.57% | — | — |
Current DrawdownCurrent decline from peak | -4.13% | 0.00% | -4.13% |
Average DrawdownAverage peak-to-trough decline | -6.84% | -7.52% | +0.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.33% | 1.33% | +2.00% |
Volatility
DIAMX vs. QRPIX - Volatility Comparison
Diamond Hill Long-Short Fund (DIAMX) has a higher volatility of 3.31% compared to AQR Alternative Risk Premia Fund - Class I (QRPIX) at 2.50%. This indicates that DIAMX's price experiences larger fluctuations and is considered to be riskier than QRPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DIAMX | QRPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.31% | 2.50% | +0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 6.60% | 6.87% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.93% | 9.46% | -1.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.59% | 11.86% | -1.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.85% | 10.34% | +2.51% |
DIAMX vs. QRPIX - Expense Ratio Comparison
DIAMX has a 1.36% expense ratio, which is lower than QRPIX's 1.48% expense ratio.
Dividends
DIAMX vs. QRPIX - Dividend Comparison
DIAMX's dividend yield for the trailing twelve months is around 1.44%, more than QRPIX's 1.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIAMX Diamond Hill Long-Short Fund | 1.44% | 1.39% | 9.52% | 4.03% | 5.07% | 10.81% | 0.97% | 6.32% | 4.94% | 2.15% | 3.42% | 0.48% |
QRPIX AQR Alternative Risk Premia Fund - Class I | 1.19% | 1.45% | 2.24% | 4.52% | 0.00% | 4.08% | 1.98% | 0.85% | 0.09% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DIAMX and QRPIX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DIAMX has higher volatility (3.31%) compared to QRPIX (2.50%). In terms of maximum drawdown, DIAMX dropped -40.92% vs QRPIX's -28.45%.
QRPIX currently has the higher Sharpe Ratio (3.76 vs 0.60), 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.
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