QDSNX vs. TALTX

Last updated Apr 1, 2026

Compare and contrast key facts about AQR Diversifying Strategies Fund Class N (QDSNX) and Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX).

QDSNX is an actively managed fund by AQR Funds. It was launched on Jun 8, 2020. TALTX is managed by Morgan Stanley. It was launched on Feb 14, 2018.

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.

QDSNX vs. TALTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
QDSNX AQR Diversifying Strategies Fund Class N	2.79%	16.14%	9.56%	8.62%	14.48%	10.35%	5.40%
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	0.75%	5.51%	3.53%	8.27%	-2.29%	5.33%	8.57%

Returns By Period

In the year-to-date period, QDSNX achieves a 2.79% return, which is significantly higher than TALTX's 0.75% return.

QDSNX

• 1D: 0.21%
• 1M: -1.31%
• YTD: 2.79%
• 6M: 5.61%
• 1Y: 11.90%
• 3Y*: 12.45%
• 5Y*: 10.91%
• 10Y*: —

TALTX

• 1D: 0.00%
• 1M: -2.09%
• YTD: 0.75%
• 6M: 2.15%
• 1Y: 5.40%
• 3Y*: 5.84%
• 5Y*: 3.73%
• 10Y*: —

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

QDSNX vs. TALTX - Expense Ratio Comparison

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

QDSNX

AQR Diversifying Strategies Fund Class N

TALTX

Morgan Stanley Pathway Funds Alternative Strategies Fund

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: 89
QDSNX Sharpe Ratio Rank: 91
QDSNX Sortino Ratio Rank: 89
QDSNX Omega Ratio Rank: 90
QDSNX Calmar Ratio Rank: 86
QDSNX Martin Ratio Rank: 87

TALTX

TALTX Risk / Return Rank: 49
TALTX Sharpe Ratio Rank: 65
TALTX Sortino Ratio Rank: 60
TALTX Omega Ratio Rank: 72
TALTX Calmar Ratio Rank: 24
TALTX Martin Ratio Rank: 27

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	1.93	1.16	+0.78
Sortino ratio Return per unit of downside risk	2.44	1.56	+0.88
Omega ratio Gain probability vs. loss probability	1.40	1.27	+0.13
Calmar ratio Return relative to maximum drawdown	2.19	0.69	+1.50
Martin ratio Return relative to average drawdown	9.35	2.86	+6.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QDSNX vs. TALTX - Sharpe Ratio Comparison

The current QDSNX Sharpe Ratio is 1.93, which is higher than the TALTX Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of QDSNX and TALTX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QDSNX	TALTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	1.16	+0.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.44	0.82	+0.62
Sharpe Ratio (All Time) Calculated using the full available price history	1.58	0.91	+0.68

Correlation

The correlation between QDSNX and TALTX is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

QDSNX vs. TALTX - Dividend Comparison

QDSNX's dividend yield for the trailing twelve months is around 1.94%, less than TALTX's 4.30% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
QDSNX AQR Diversifying Strategies Fund Class N	1.94%	1.99%	0.00%	11.18%	8.01%	5.99%	1.83%	0.00%	0.00%
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	4.30%	4.34%	2.45%	3.11%	6.63%	0.69%	0.85%	3.12%	0.74%

Drawdowns

QDSNX vs. TALTX - Drawdown Comparison

The maximum QDSNX drawdown since its inception was -7.15%, smaller than the maximum TALTX drawdown of -14.24%. 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%	-14.24%	+7.09%
Max Drawdown (1Y) Largest decline over 1 year	-5.55%	-5.15%	-0.40%
Max Drawdown (5Y) Largest decline over 5 years	-7.15%	-6.38%	-0.77%
Current Drawdown Current decline from peak	-1.31%	-2.09%	+0.78%
Average Drawdown Average peak-to-trough decline	-1.49%	-1.37%	-0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.30%	1.54%	-0.24%

Volatility

QDSNX vs. TALTX - Volatility Comparison

AQR Diversifying Strategies Fund Class N (QDSNX) has a higher volatility of 1.56% compared to Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX) at 0.96%. This indicates that QDSNX's price experiences larger fluctuations and is considered to be riskier than TALTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDSNX	TALTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.56%	0.96%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	3.68%	2.56%	+1.12%
Volatility (1Y) Calculated over the trailing 1-year period	6.33%	5.36%	+0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.63%	4.68%	+2.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.37%	4.73%	+2.64%