QCFNX vs. QSPNX

Last updated Jun 3, 2026

QCFNX (AQR CVX Fusion Fund Class N) and QSPNX (AQR Style Premia Alternative Fund Class N) are both mutual funds - QCFNX is a Systematic Trend fund actively managed by AQR, while QSPNX is a Multistrategy fund actively managed by AQR. Both are actively managed. At a correlation of -0.03, they often move in opposite directions. QCFNX charges 2.42%/yr vs 6.14%/yr for QSPNX.

Performance

QCFNX vs. QSPNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR CVX Fusion Fund Class N (QCFNX) and AQR Style Premia Alternative Fund Class N (QSPNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QCFNX achieves a 17.67% return, which is significantly higher than QSPNX's 12.78% return.

QCFNX

• 1D: 1.01%
• 1M: 5.16%
• YTD: 17.67%
• 6M: 18.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QSPNX

• 1D: 1.69%
• 1M: 2.34%
• YTD: 12.78%
• 6M: 13.38%
• 1Y: 17.86%
• 3Y*: 21.11%
• 5Y*: 18.94%
• 10Y*: 7.14%

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

QCFNX vs. QSPNX - Yearly Performance Comparison

	2026 (YTD)	2025
QCFNX AQR CVX Fusion Fund Class N	17.67%	1.98%
QSPNX AQR Style Premia Alternative Fund Class N	12.78%	-1.40%

Correlation

The correlation between QCFNX and QSPNX is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 7, 2025	-0.03

Return for Risk

QCFNX vs. QSPNX — Risk / Return Rank

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

QSPNX

QSPNX Risk / Return Rank: 52
QSPNX Sharpe Ratio Rank: 44
QSPNX Sortino Ratio Rank: 48
QSPNX Omega Ratio Rank: 39
QSPNX Calmar Ratio Rank: 80
QSPNX Martin Ratio Rank: 46

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.

QCFNX vs. QSPNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR CVX Fusion Fund Class N (QCFNX) and AQR Style Premia Alternative Fund Class N (QSPNX). 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.

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

Sharpe Ratios by Period

	QCFNX	QSPNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.95	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.20	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.80	0.60	+2.20

Drawdowns

QCFNX vs. QSPNX - Drawdown Comparison

The maximum QCFNX drawdown since its inception was -8.02%, smaller than the maximum QSPNX drawdown of -41.79%. Use the drawdown chart below to compare losses from any high point for QCFNX and QSPNX.

Drawdown Indicators

	QCFNX	QSPNX	Difference
Max Drawdown Largest peak-to-trough decline	-8.02%	-41.79%	+33.77%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.05%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-9.31%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.17%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.79%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.61%	-9.61%	+8.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.91%	—

Volatility

Volatility by Period

	QCFNX	QSPNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.20%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.24%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.66%	9.65%	+5.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.66%	15.86%	-1.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.66%	12.82%	+1.84%

QCFNX vs. QSPNX - Expense Ratio Comparison

QCFNX has a 2.42% expense ratio, which is lower than QSPNX's 6.14% expense ratio.

Dividends

QCFNX vs. QSPNX - Dividend Comparison

QCFNX's dividend yield for the trailing twelve months is around 6.56%, more than QSPNX's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QCFNX AQR CVX Fusion Fund Class N	6.56%	7.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QSPNX AQR Style Premia Alternative Fund Class N	2.12%	2.39%	6.80%	23.73%	22.62%	12.61%	0.00%	1.63%	0.51%	6.81%	1.75%	5.68%

Frequently Asked Questions

Can I hold both QCFNX and QSPNX in my portfolio?

QCFNX and QSPNX have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.