FCRIX vs. QHFIX

Last updated Jun 4, 2026

FCRIX (FS Credit Income Fund Class I) and QHFIX (AQR MS Fusion HV Fund Fund Class I) are both Multistrategy funds. Both are actively managed. At a 0.13 correlation, their price movements are largely independent. FCRIX charges 2.37%/yr vs 6.69%/yr for QHFIX.

Performance

FCRIX vs. QHFIX - Performance Comparison

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

Returns By Period

In the year-to-date period, FCRIX achieves a 2.90% return, which is significantly lower than QHFIX's 3.72% return.

FCRIX

• 1D: 0.08%
• 1M: 0.76%
• YTD: 2.90%
• 6M: 3.68%
• 1Y: 8.18%
• 3Y*: 9.15%
• 5Y*: 4.50%
• 10Y*: —

QHFIX

• 1D: -0.24%
• 1M: 9.36%
• YTD: 3.72%
• 6M: 7.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FCRIX vs. QHFIX - Yearly Performance Comparison

	2026 (YTD)	2025
FCRIX FS Credit Income Fund Class I	2.90%	1.44%
QHFIX AQR MS Fusion HV Fund Fund Class I	3.72%	4.97%

Correlation

The correlation between FCRIX and QHFIX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 7, 2025	0.13

Return for Risk

FCRIX vs. QHFIX — Risk / Return Rank

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

FCRIX

FCRIX Risk / Return Rank: 96
FCRIX Sharpe Ratio Rank: 84
FCRIX Sortino Ratio Rank: 100
FCRIX Omega Ratio Rank: 99
FCRIX Calmar Ratio Rank: 98
FCRIX Martin Ratio Rank: 99

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. QHFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FS Credit Income Fund Class I (FCRIX) and AQR MS Fusion HV Fund Fund Class I (QHFIX). 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.

	FCRIX	QHFIX	Difference
Sharpe ratio: Return per unit of total volatility	2.75	—	—
Sortino ratio: Return per unit of downside risk	11.88	—	—
Omega ratio: Gain probability vs. loss probability	2.87	—	—
Calmar ratio: Return relative to maximum drawdown	9.15	—	—
Martin ratio: Return relative to average drawdown	40.39	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FCRIX	QHFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.75	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	1.00	-0.13

Drawdowns

FCRIX vs. QHFIX - Drawdown Comparison

The maximum FCRIX drawdown since its inception was -26.74%, which is greater than QHFIX's maximum drawdown of -13.85%. Use the drawdown chart below to compare losses from any high point for FCRIX and QHFIX.

Drawdown Indicators

	FCRIX	QHFIX	Difference
Max Drawdown Largest peak-to-trough decline	-26.74%	-13.85%	-12.89%
Max Drawdown (1Y) Largest decline over 1 year	-0.90%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-3.01%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.33%	—	—
Current Drawdown Current decline from peak	0.00%	-0.24%	+0.24%
Average Drawdown Average peak-to-trough decline	-3.20%	-5.04%	+1.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.20%	—	—

Volatility

Volatility by Period

	FCRIX	QHFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.68%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.07%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.00%	16.42%	-13.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.22%	16.42%	-12.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.41%	16.42%	-10.01%

FCRIX vs. QHFIX - Expense Ratio Comparison

FCRIX has a 2.37% expense ratio, which is lower than QHFIX's 6.69% expense ratio.

Dividends

FCRIX vs. QHFIX - Dividend Comparison

FCRIX's dividend yield for the trailing twelve months is around 10.10%, while QHFIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FCRIX FS Credit Income Fund Class I	10.10%	10.54%	8.27%	5.56%	3.25%	5.62%	5.72%	2.91%
QHFIX AQR MS Fusion HV Fund Fund Class I	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCRIX and QHFIX in my portfolio?

FCRIX and QHFIX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.