FCRIX vs. QMFRX

Last updated Jun 23, 2026

FCRIX (FS Credit Income Fund Class I) and QMFRX (AQR MS Fusion Fund Class R6) are both Multistrategy funds. Both are actively managed. At a 0.16 correlation, their price movements are largely independent. FCRIX charges 2.37%/yr vs 3.45%/yr for QMFRX.

Performance

FCRIX vs. QMFRX - 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 Fund Class R6 (QMFRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCRIX achieves a 2.81% return, which is significantly lower than QMFRX's 8.37% return.

FCRIX

• 1D: 0.08%
• 1M: 0.67%
• YTD: 2.81%
• 6M: 3.68%
• 1Y: 8.27%
• 3Y*: 8.82%
• 5Y*: 4.39%
• 10Y*: —

QMFRX

• 1D: 0.73%
• 1M: 0.57%
• YTD: 8.37%
• 6M: 7.90%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FCRIX vs. QMFRX - Yearly Performance Comparison

	2026 (YTD)	2025
FCRIX FS Credit Income Fund Class I	2.81%	1.44%
QMFRX AQR MS Fusion Fund Class R6	8.37%	3.55%

Correlation

The correlation between FCRIX and QMFRX is 0.16, 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 6, 2025	0.16

Return for Risk

FCRIX vs. QMFRX — Risk / Return Rank

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

FCRIX

FCRIX Risk / Return Rank: 97
FCRIX Sharpe Ratio Rank: 91
FCRIX Sortino Ratio Rank: 100
FCRIX Omega Ratio Rank: 99
FCRIX Calmar Ratio Rank: 99
FCRIX Martin Ratio Rank: 99

QMFRX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. QMFRX - 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 Fund Class R6 (QMFRX). 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.

	FCRIX	QMFRX	Difference
Sharpe ratio: Return per unit of total volatility	2.81	—	—
Sortino ratio: Return per unit of downside risk	12.11	—	—
Omega ratio: Gain probability vs. loss probability	2.91	—	—
Calmar ratio: Return relative to maximum drawdown	9.34	—	—
Martin ratio: Return relative to average drawdown	41.41	—	—

Drawdowns

FCRIX vs. QMFRX - Drawdown Comparison

The maximum FCRIX drawdown since its inception was -26.74%, which is greater than QMFRX's maximum drawdown of -10.27%. Use the drawdown chart below to compare losses from any high point for FCRIX and QMFRX.

Drawdown Indicators

	FCRIX	QMFRX	Difference
Max Drawdown Largest peak-to-trough decline	-26.74%	-10.27%	-16.47%
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	-0.08%	-2.97%	+2.89%
Average Drawdown Average peak-to-trough decline	-3.18%	-2.29%	-0.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.20%	—	—

Volatility

Volatility by Period

	FCRIX	QMFRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.95%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.00%	14.96%	-11.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.22%	14.96%	-10.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.38%	14.96%	-8.58%

FCRIX vs. QMFRX - Expense Ratio Comparison

FCRIX has a 2.37% expense ratio, which is lower than QMFRX's 3.45% expense ratio.

Dividends

FCRIX vs. QMFRX - Dividend Comparison

FCRIX's dividend yield for the trailing twelve months is around 10.11%, more than QMFRX's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FCRIX FS Credit Income Fund Class I	10.11%	10.54%	8.27%	5.56%	3.25%	5.62%	5.72%	2.91%
QMFRX AQR MS Fusion Fund Class R6	0.44%	0.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCRIX and QMFRX in my portfolio?

FCRIX and QMFRX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.