MSTVX vs. QSPRX
Compare and contrast key facts about Morningstar Alternatives Fund (MSTVX) and AQR Style Premia Alternative R6 (QSPRX).
MSTVX is managed by Morningstar. It was launched on Nov 1, 2018. QSPRX is an actively managed fund by AQR. It was launched on Sep 2, 2014.
Performance
MSTVX vs. QSPRX - Performance Comparison
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MSTVX vs. QSPRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MSTVX Morningstar Alternatives Fund | 0.75% | 6.42% | 6.37% | 6.86% | -2.69% | 4.20% | 3.81% | 5.82% | -0.05% |
QSPRX AQR Style Premia Alternative R6 | 9.87% | 14.94% | 21.60% | 12.50% | 30.90% | 25.14% | -21.91% | -8.10% | -2.38% |
Returns By Period
In the year-to-date period, MSTVX achieves a 0.75% return, which is significantly lower than QSPRX's 9.87% return.
MSTVX
- 1D
- 0.19%
- 1M
- -1.29%
- YTD
- 0.75%
- 6M
- 2.55%
- 1Y
- 4.68%
- 3Y*
- 6.67%
- 5Y*
- 3.93%
- 10Y*
- —
QSPRX
- 1D
- -0.10%
- 1M
- 3.12%
- YTD
- 9.87%
- 6M
- 13.19%
- 1Y
- 13.06%
- 3Y*
- 20.04%
- 5Y*
- 18.99%
- 10Y*
- 7.14%
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MSTVX vs. QSPRX - Expense Ratio Comparison
MSTVX has a 1.15% expense ratio, which is lower than QSPRX's 5.79% expense ratio.
Return for Risk
MSTVX vs. QSPRX — Risk / Return Rank
MSTVX
QSPRX
MSTVX vs. QSPRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morningstar Alternatives Fund (MSTVX) and AQR Style Premia Alternative R6 (QSPRX). 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.
| MSTVX | QSPRX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.23 | 1.39 | -0.16 |
Sortino ratioReturn per unit of downside risk | 1.67 | 1.89 | -0.22 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.25 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 1.90 | 1.74 | +0.16 |
Martin ratioReturn relative to average drawdown | 11.80 | 5.27 | +6.53 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MSTVX | QSPRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.23 | 1.39 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.31 | 1.19 | +0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.56 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.38 | 0.57 | +0.81 |
Correlation
The correlation between MSTVX and QSPRX is -0.00. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
MSTVX vs. QSPRX - Dividend Comparison
MSTVX's dividend yield for the trailing twelve months is around 3.39%, more than QSPRX's 2.39% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSTVX Morningstar Alternatives Fund | 3.39% | 3.41% | 3.07% | 3.86% | 3.92% | 4.99% | 2.91% | 1.74% | 0.25% | 0.00% | 0.00% | 0.00% |
QSPRX AQR Style Premia Alternative R6 | 2.39% | 2.63% | 6.99% | 23.75% | 22.67% | 12.85% | 0.00% | 1.62% | 1.09% | 7.15% | 1.74% | 5.87% |
Drawdowns
MSTVX vs. QSPRX - Drawdown Comparison
The maximum MSTVX drawdown since its inception was -8.02%, smaller than the maximum QSPRX drawdown of -41.22%. Use the drawdown chart below to compare losses from any high point for MSTVX and QSPRX.
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Drawdown Indicators
| MSTVX | QSPRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.02% | -41.22% | +33.20% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -7.75% | +4.54% |
Max Drawdown (5Y)Largest decline over 5 years | -5.89% | -17.17% | +11.28% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.22% | — |
Current DrawdownCurrent decline from peak | -1.47% | -0.21% | -1.26% |
Average DrawdownAverage peak-to-trough decline | -1.17% | -10.21% | +9.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 2.70% | -2.17% |
Volatility
MSTVX vs. QSPRX - Volatility Comparison
The current volatility for Morningstar Alternatives Fund (MSTVX) is 0.87%, while AQR Style Premia Alternative R6 (QSPRX) has a volatility of 2.49%. This indicates that MSTVX experiences smaller price fluctuations and is considered to be less risky than QSPRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSTVX | QSPRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 2.49% | -1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 1.53% | 6.51% | -4.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.70% | 10.11% | -5.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.13% | 16.00% | -12.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.15% | 12.80% | -9.65% |