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FCRIX vs. ADAIX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FCRIX vs. ADAIX

Last updated Apr 1, 2026

Compare and contrast key facts about FS Credit Income Fund Class I (FCRIX) and AQR Diversified Arbitrage Fund Class I (ADAIX).

FCRIX is an actively managed fund by FS Investments. It was launched on Nov 1, 2017. ADAIX is an actively managed fund by AQR Funds. It was launched on Jan 15, 2009.

Performance

FCRIX vs. ADAIX - Performance Comparison

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

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FCRIX vs. ADAIX - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
FCRIX
FS Credit Income Fund Class I		0.85%7.88%9.57%11.96%-10.70%7.50%8.27%2.47%
ADAIX
AQR Diversified Arbitrage Fund Class I		0.78%8.03%3.19%4.51%-3.30%6.27%25.24%2.77%

Returns By Period

In the year-to-date period, FCRIX achieves a 0.85% return, which is significantly higher than ADAIX's 0.78% return.

FCRIX

1D
0.00%
1M
-0.25%
YTD
0.85%
6M
2.90%
1Y
7.38%
3Y*
9.04%
5Y*
4.50%
10Y*
—

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

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FS Credit Income Fund Class I

AQR Diversified Arbitrage Fund Class I

Often compared with FCRIX:
FCRIX vs. QRPNXFCRIX vs. ADANXFCRIX vs. TALTXFCRIX vs. SHRIXFCRIX vs. ARBIXFCRIX vs. QSPNXFCRIX vs. QSPIX
Often compared with ADAIX:
ADAIX vs. QMNIXADAIX vs. QGMIXADAIX vs. QSPIXADAIX vs. PIMIXADAIX vs. AQMIXADAIX vs. QRPIXADAIX vs. QLEIX

FCRIX vs. ADAIX - Expense Ratio Comparison

FCRIX has a 2.37% expense ratio, which is higher than ADAIX's 1.38% expense ratio.

FCRIX
FS Credit Income Fund Class I
ADAIX
AQR Diversified Arbitrage Fund Class I

Return for Risk

FCRIX vs. ADAIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FCRIX
FCRIX Risk / Return Rank: 9898
Overall Rank
FCRIX Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
FCRIX Sortino Ratio Rank: 9999
Sortino Ratio Rank
FCRIX Omega Ratio Rank: 9999
Omega Ratio Rank
FCRIX Calmar Ratio Rank: 9999
Calmar Ratio Rank
FCRIX Martin Ratio Rank: 9898
Martin Ratio Rank
ADAIX
ADAIX Risk / Return Rank: 9999
Overall Rank
ADAIX Sharpe Ratio Rank: 100100
Sharpe Ratio Rank
ADAIX Sortino Ratio Rank: 9999
Sortino Ratio Rank
ADAIX Omega Ratio Rank: 9898
Omega Ratio Rank
ADAIX Calmar Ratio Rank: 9999
Calmar Ratio Rank
ADAIX Martin Ratio Rank: 9999
Martin Ratio Rank
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.

FCRIX vs. ADAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FS Credit Income Fund Class I (FCRIX) and AQR Diversified Arbitrage Fund Class I (ADAIX). 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.

FCRIXADAIXDifference

Sharpe ratio

Return per unit of total volatility

2.49

4.19

-1.70

Sortino ratio

Return per unit of downside risk

6.31

6.86

-0.55

Omega ratio

Gain probability vs. loss probability

2.39

2.06

+0.33

Calmar ratio

Return relative to maximum drawdown

5.76

9.83

-4.06

Martin ratio

Return relative to average drawdown

23.57

37.48

-13.91

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCRIX vs. ADAIX - Sharpe Ratio Comparison

The current FCRIX Sharpe Ratio is 2.49, which is lower than the ADAIX Sharpe Ratio of 4.19. The chart below compares the historical Sharpe Ratios of FCRIX and ADAIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

FCRIXADAIXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.49

4.19

-1.70

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.08

1.02

+0.06

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.56

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.83

1.19

-0.35

Correlation

The correlation between FCRIX and ADAIX is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FCRIX vs. ADAIX - Dividend Comparison

FCRIX's dividend yield for the trailing twelve months is around 9.52%, more than ADAIX's 2.10% yield.

TTM20252024202320222021202020192018201720162015
FCRIX
FS Credit Income Fund Class I		9.52%10.54%8.27%5.56%3.25%5.62%5.72%2.91%0.00%0.00%0.00%0.00%
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%

Drawdowns

FCRIX vs. ADAIX - Drawdown Comparison

The maximum FCRIX drawdown since its inception was -26.74%, which is greater than ADAIX's maximum drawdown of -14.75%. Use the drawdown chart below to compare losses from any high point for FCRIX and ADAIX.

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Drawdown Indicators

FCRIXADAIXDifference

Max Drawdown

Largest peak-to-trough decline

-26.74%

-14.75%

-11.99%

Max Drawdown (1Y)

Largest decline over 1 year

-1.31%

-0.64%

-0.67%

Max Drawdown (5Y)

Largest decline over 5 years

-15.33%

-7.40%

-7.93%

Max Drawdown (10Y)

Largest decline over 10 years

—

-14.75%

—

Current Drawdown

Current decline from peak

-0.25%

-0.31%

+0.06%

Average Drawdown

Average peak-to-trough decline

-3.28%

-2.85%

-0.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.34%

0.17%

+0.17%

Volatility

FCRIX vs. ADAIX - Volatility Comparison

The current volatility for FS Credit Income Fund Class I (FCRIX) is 0.22%, while AQR Diversified Arbitrage Fund Class I (ADAIX) has a volatility of 0.38%. This indicates that FCRIX experiences smaller price fluctuations and is considered to be less risky than ADAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FCRIXADAIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.22%

0.38%

-0.16%

Volatility (6M)

Calculated over the trailing 6-month period

2.06%

1.11%

+0.95%

Volatility (1Y)

Calculated over the trailing 1-year period

3.33%

1.54%

+1.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.20%

2.69%

+1.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.48%

4.33%

+2.15%