JDJIX vs. QSPIX

Last updated Aug 1, 2026

JDJIX (JHancock Diversified Macro Fund) and QSPIX (AQR Style Premia Alternative Fund - Class I) are both Multistrategy funds. Over the past 5 years, JDJIX returned 3.07%/yr vs 20.15%/yr for QSPIX. Their 0.14 correlation means their historical movements had little consistent relationship. JDJIX charges 1.39%/yr vs 1.53%/yr for QSPIX.

Performance

JDJIX vs. QSPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JHancock Diversified Macro Fund (JDJIX) 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, JDJIX achieves a 10.22% return, which is significantly lower than QSPIX's 17.69% return.

JDJIX

• 1D: -0.33%
• 1M: 0.33%
• 6M: 6.26%
• YTD: 10.22%
• 1Y: 8.73%
• 3Y*: 0.75%
• 5Y*: 3.07%
• 10Y*: —
• ALL TIME*: 2.27%

QSPIX

• 1D: 0.49%
• 1M: 6.60%
• 6M: 14.51%
• YTD: 17.69%
• 1Y: 22.16%
• 3Y*: 20.71%
• 5Y*: 20.15%
• 10Y*: 7.79%
• ALL TIME*: 7.79%

*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)
JDJIX JHancock Diversified Macro Fund	$0.00	$0.00	$0.00
QSPIX AQR Style Premia Alternative Fund - Class I	$0.00	$0.00	$0.00

JDJIX vs. QSPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
JDJIX JHancock Diversified Macro Fund	10.22%	-7.68%	2.59%	2.77%	12.26%	-2.19%	-2.24%	1.59%
QSPIX AQR Style Premia Alternative Fund - Class I	17.69%	14.82%	21.48%	12.46%	30.76%	24.93%	-21.96%	-3.73%

Correlation

The correlation between JDJIX and QSPIX is 0.05, 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.	0.05
Correlation (3Y) Balances recent behavior with more history.	0.14
Correlation (5Y) Shows whether the relationship held over a longer period.	0.17
Correlation (All Time) Calculated using the full available price history since Jul 29, 2019	0.14

The correlation between JDJIX and QSPIX shifts across timeframes, from 0.05 (1 year) to 0.17 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

JDJIX vs. QSPIX — Risk / Return Rank

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

JDJIX

JDJIX Risk / Return Rank: 24
JDJIX Sharpe Ratio Rank: 24
JDJIX Sortino Ratio Rank: 23
JDJIX Omega Ratio Rank: 23
JDJIX Calmar Ratio Rank: 26
JDJIX Martin Ratio Rank: 23

QSPIX

QSPIX Risk / Return Rank: 90
QSPIX Sharpe Ratio Rank: 91
QSPIX Sortino Ratio Rank: 91
QSPIX Omega Ratio Rank: 84
QSPIX Calmar Ratio Rank: 96
QSPIX Martin Ratio Rank: 89

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.

JDJIX vs. QSPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JHancock Diversified Macro Fund (JDJIX) 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.

	JDJIX	QSPIX	Difference
Sharpe ratio: Return per unit of total volatility	0.85	2.30	-1.46
Sortino ratio: Return per unit of downside risk	1.22	3.42	-2.20
Omega ratio: Gain probability vs. loss probability	1.15	1.40	-0.24
Calmar ratio: Return relative to maximum drawdown	1.18	4.35	-3.16
Martin ratio: Return relative to average drawdown	3.29	11.87	-8.58

JDJIX vs. QSPIX - Sharpe Ratio Comparison

The current JDJIX Sharpe Ratio is 0.85, which is lower than the QSPIX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of JDJIX 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

JDJIX vs. QSPIX - Drawdown Comparison

The maximum JDJIX drawdown since its inception was -19.58%, smaller than the maximum QSPIX drawdown of -41.37%. Use the drawdown chart below to compare losses from any high point for JDJIX and QSPIX.

Drawdown Indicators

	JDJIX	QSPIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.58%	-41.37%	+21.79%
Max Drawdown (1Y) Largest decline over 1 year	-5.07%	-5.09%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-19.58%	-9.31%	-10.27%
Max Drawdown (5Y) Largest decline over 5 years	-19.58%	-17.13%	-2.45%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.37%	—
Current Drawdown Current decline from peak	-10.22%	0.00%	-10.22%
Average Drawdown Average peak-to-trough decline	-7.45%	-9.32%	+1.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	1.86%	+0.04%

Volatility

JDJIX vs. QSPIX - Volatility Comparison

The current volatility for JHancock Diversified Macro Fund (JDJIX) is 1.77%, while AQR Style Premia Alternative Fund - Class I (QSPIX) has a volatility of 2.28%. This indicates that JDJIX 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

	JDJIX	QSPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.77%	2.28%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	5.15%	7.09%	-1.94%
Volatility (1Y) Calculated over the trailing 1-year period	7.09%	9.65%	-2.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.83%	15.84%	-7.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.12%	12.85%	-3.73%

JDJIX vs. QSPIX - Expense Ratio Comparison

JDJIX has a 1.39% expense ratio, which is lower than QSPIX's 1.53% expense ratio.

Dividends

JDJIX vs. QSPIX - Dividend Comparison

JDJIX's dividend yield for the trailing twelve months is around 0.28%, less than QSPIX's 2.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JDJIX JHancock Diversified Macro Fund	0.28%	0.31%	0.43%	3.99%	11.26%	3.46%	2.11%	3.79%	0.00%	0.00%	0.00%	0.00%
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 JDJIX and QSPIX in my portfolio?

JDJIX and QSPIX have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JDJIX or QSPIX?

QSPIX has higher volatility (2.28%) compared to JDJIX (1.77%). In terms of maximum drawdown, JDJIX dropped -19.58% vs QSPIX's -41.37%.

Which has better risk-adjusted returns?

QSPIX currently has the higher Sharpe Ratio (2.30 vs 0.85), 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.