DVRIX vs. QSPIX

Last updated Aug 4, 2026

DVRIX (MFS Global Alternative Strategy Fund) and QSPIX (AQR Style Premia Alternative Fund - Class I) are both Multistrategy funds. Over the past 10 years, DVRIX returned 5.19%/yr vs 7.74%/yr for QSPIX. Their 0.01 correlation means their historical movements had little consistent relationship. DVRIX charges 1.05%/yr vs 1.53%/yr for QSPIX.

Performance

DVRIX vs. QSPIX - Performance Comparison

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

Returns By Period

In the year-to-date period, DVRIX achieves a 2.66% return, which is significantly lower than QSPIX's 18.03% return. Over the past 10 years, DVRIX has underperformed QSPIX with an annualized return of 5.19%, while QSPIX has yielded a comparatively higher 7.74% annualized return.

DVRIX

• 1D: -0.20%
• 1M: 0.76%
• 6M: 1.17%
• YTD: 2.66%
• 1Y: 5.48%
• 3Y*: 9.00%
• 5Y*: 5.38%
• 10Y*: 5.19%
• ALL TIME*: 3.70%

QSPIX

• 1D: 0.29%
• 1M: 6.91%
• 6M: 13.70%
• YTD: 18.03%
• 1Y: 22.52%
• 3Y*: 20.48%
• 5Y*: 20.22%
• 10Y*: 7.74%
• ALL TIME*: 7.82%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DVRIX MFS Global Alternative Strategy Fund	$0.00	$0.00	$0.00
QSPIX AQR Style Premia Alternative Fund - Class I	$0.00	$0.00	$0.00

DVRIX vs. QSPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DVRIX MFS Global Alternative Strategy Fund	2.66%	10.87%	9.66%	9.22%	-5.10%	3.67%	4.66%	13.01%	-0.39%	6.40%
QSPIX AQR Style Premia Alternative Fund - Class I	18.03%	14.82%	21.48%	12.46%	30.76%	24.93%	-21.96%	-8.22%	-12.35%	12.12%

Correlation

The correlation between DVRIX and QSPIX is -0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.10
Correlation (3Y) Balances recent behavior with more history.	-0.03
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.10
Correlation (10Y) Provides a long-term view across more market conditions.	-0.03
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.01

The correlation between DVRIX and QSPIX shifts across timeframes, from -0.10 (5 years) to 0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DVRIX vs. QSPIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DVRIX

DVRIX Risk / Return Rank: 42
DVRIX Sharpe Ratio Rank: 47
DVRIX Sortino Ratio Rank: 47
DVRIX Omega Ratio Rank: 45
DVRIX Calmar Ratio Rank: 39
DVRIX Martin Ratio Rank: 34

QSPIX

QSPIX Risk / Return Rank: 89
QSPIX Sharpe Ratio Rank: 90
QSPIX Sortino Ratio Rank: 89
QSPIX Omega Ratio Rank: 82
QSPIX Calmar Ratio Rank: 95
QSPIX Martin Ratio Rank: 87

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DVRIX vs. QSPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Global Alternative Strategy Fund (DVRIX) and AQR Style Premia Alternative Fund - Class I (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.

	DVRIX	QSPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.41	2.27	-0.86
Sortino ratio: Return per unit of downside risk	2.04	3.37	-1.33
Omega ratio: Gain probability vs. loss probability	1.26	1.39	-0.14
Calmar ratio: Return relative to maximum drawdown	1.74	4.28	-2.54
Martin ratio: Return relative to average drawdown	5.35	11.68	-6.33

DVRIX vs. QSPIX - Sharpe Ratio Comparison

The current DVRIX Sharpe Ratio is 1.41, which is lower than the QSPIX Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of DVRIX 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

DVRIX vs. QSPIX - Drawdown Comparison

The maximum DVRIX drawdown since its inception was -36.61%, smaller than the maximum QSPIX drawdown of -41.37%. Use the drawdown chart below to compare losses from any high point for DVRIX and QSPIX.

Drawdown Indicators

	DVRIX	QSPIX	Difference
Max Drawdown Largest peak-to-trough decline	-36.61%	-41.37%	+4.76%
Max Drawdown (1Y) Largest decline over 1 year	-3.08%	-5.09%	+2.01%
Max Drawdown (3Y) Largest decline over 3 years	-3.57%	-9.31%	+5.74%
Max Drawdown (5Y) Largest decline over 5 years	-9.88%	-17.13%	+7.25%
Max Drawdown (10Y) Largest decline over 10 years	-12.80%	-41.37%	+28.57%
Current Drawdown Current decline from peak	-0.20%	0.00%	-0.20%
Average Drawdown Average peak-to-trough decline	-4.08%	-9.32%	+5.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.00%	1.86%	-0.86%

Volatility

DVRIX vs. QSPIX - Volatility Comparison

The current volatility for MFS Global Alternative Strategy Fund (DVRIX) is 1.12%, while AQR Style Premia Alternative Fund - Class I (QSPIX) has a volatility of 1.98%. This indicates that DVRIX experiences smaller price fluctuations and is considered to be less risky than QSPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DVRIX	QSPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	1.98%	-0.86%
Volatility (6M) Calculated over the trailing 6-month period	3.16%	7.06%	-3.90%
Volatility (1Y) Calculated over the trailing 1-year period	3.80%	9.61%	-5.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.90%	15.84%	-10.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.25%	12.84%	-7.59%

DVRIX vs. QSPIX - Expense Ratio Comparison

DVRIX has a 1.05% expense ratio, which is lower than QSPIX's 1.53% expense ratio.

Dividends

DVRIX vs. QSPIX - Dividend Comparison

DVRIX's dividend yield for the trailing twelve months is around 1.12%, less than QSPIX's 2.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVRIX MFS Global Alternative Strategy Fund	1.12%	1.15%	1.65%	1.15%	0.60%	0.60%	0.64%	1.14%	1.11%	2.17%	2.87%	1.15%
QSPIX AQR Style Premia Alternative Fund - Class I	2.18%	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 DVRIX and QSPIX in my portfolio?

DVRIX and QSPIX have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DVRIX or QSPIX?

QSPIX has higher volatility (1.98%) compared to DVRIX (1.12%). In terms of maximum drawdown, DVRIX dropped -36.61% vs QSPIX's -41.37%.

Which has better risk-adjusted returns?

QSPIX currently has the higher Sharpe Ratio (2.27 vs 1.41), 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.