QDSNX vs. TALTX

Last updated Jun 5, 2026

QDSNX (AQR Diversifying Strategies Fund Class N) and TALTX (Morgan Stanley Pathway Funds Alternative Strategies Fund) are both mutual funds - QDSNX is a Tactical Allocation fund actively managed by AQR Funds, while TALTX is a Multistrategy fund managed by Morgan Stanley. A 0.63 correlation means they provide meaningful diversification when combined. QDSNX charges 3.30%/yr vs 0.59%/yr for TALTX.

Performance

QDSNX vs. TALTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Diversifying Strategies Fund Class N (QDSNX) and Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QDSNX

• 1D: 0.07%
• 1M: 1.57%
• YTD: 6.38%
• 6M: 7.65%
• 1Y: 14.84%
• 3Y*: 13.74%
• 5Y*: 10.87%
• 10Y*: —

TALTX

• 1D: 0.09%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QDSNX vs. TALTX - Yearly Performance Comparison

	2026 (YTD)
QDSNX AQR Diversifying Strategies Fund Class N	1.50%
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	0.27%

Correlation

The correlation between QDSNX and TALTX is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	0.63

Return for Risk

QDSNX vs. TALTX — Risk / Return Rank

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

QDSNX

QDSNX Risk / Return Rank: 91
QDSNX Sharpe Ratio Rank: 90
QDSNX Sortino Ratio Rank: 91
QDSNX Omega Ratio Rank: 85
QDSNX Calmar Ratio Rank: 97
QDSNX Martin Ratio Rank: 95

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.

QDSNX vs. TALTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Diversifying Strategies Fund Class N (QDSNX) and Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX). 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.

	QDSNX	TALTX	Difference
Sharpe ratio: Return per unit of total volatility	3.00	—	—
Sortino ratio: Return per unit of downside risk	4.51	—	—
Omega ratio: Gain probability vs. loss probability	1.59	—	—
Calmar ratio: Return relative to maximum drawdown	7.58	—	—
Martin ratio: Return relative to average drawdown	21.91	—	—
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

	QDSNX	TALTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.00	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.63	21.79	-20.15

Drawdowns

QDSNX vs. TALTX - Drawdown Comparison

The maximum QDSNX drawdown since its inception was -7.15%, which is greater than TALTX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for QDSNX and TALTX.

Drawdown Indicators

	QDSNX	TALTX	Difference
Max Drawdown Largest peak-to-trough decline	-7.15%	0.00%	-7.15%
Max Drawdown (1Y) Largest decline over 1 year	-1.97%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.93%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-7.15%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.46%	0.00%	-1.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	—	—

Volatility

Volatility by Period

	QDSNX	TALTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.37%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.96%	1.43%	+3.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.63%	1.43%	+6.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.31%	1.43%	+5.88%

QDSNX vs. TALTX - Expense Ratio Comparison

QDSNX has a 3.30% expense ratio, which is higher than TALTX's 0.59% expense ratio.

Dividends

QDSNX vs. TALTX - Dividend Comparison

QDSNX's dividend yield for the trailing twelve months is around 1.87%, while TALTX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
QDSNX AQR Diversifying Strategies Fund Class N	1.87%	1.99%	0.00%	11.18%	8.01%	5.99%	1.83%
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QDSNX and TALTX in my portfolio?

QDSNX and TALTX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.