QHFIX vs. ALLW

Last updated Jun 4, 2026

QHFIX (AQR MS Fusion HV Fund Fund Class I) and ALLW (SPDR Bridgewater All Weather ETF) are both funds - QHFIX is a Multistrategy fund actively managed by AQR, while ALLW is a Tactical Allocation fund actively managed by State Street. Both are actively managed. At a 0.36 correlation, their price movements are largely independent. QHFIX charges 6.69%/yr vs 0.85%/yr for ALLW.

Performance

QHFIX vs. ALLW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR MS Fusion HV Fund Fund Class I (QHFIX) and SPDR Bridgewater All Weather ETF (ALLW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QHFIX achieves a 3.72% return, which is significantly lower than ALLW's 9.20% return.

QHFIX

• 1D: -0.24%
• 1M: 9.36%
• YTD: 3.72%
• 6M: 7.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ALLW

• 1D: -0.76%
• 1M: 0.91%
• YTD: 9.20%
• 6M: 8.47%
• 1Y: 23.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QHFIX vs. ALLW - Yearly Performance Comparison

	2026 (YTD)	2025
QHFIX AQR MS Fusion HV Fund Fund Class I	3.72%	4.97%
ALLW SPDR Bridgewater All Weather ETF	9.20%	0.86%

Correlation

The correlation between QHFIX and ALLW is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 7, 2025	0.36

Return for Risk

QHFIX vs. ALLW — Risk / Return Rank

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

ALLW

ALLW Risk / Return Rank: 67
ALLW Sharpe Ratio Rank: 67
ALLW Sortino Ratio Rank: 64
ALLW Omega Ratio Rank: 67
ALLW Calmar Ratio Rank: 66
ALLW Martin Ratio Rank: 73

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.

QHFIX vs. ALLW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR MS Fusion HV Fund Fund Class I (QHFIX) and SPDR Bridgewater All Weather ETF (ALLW). 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

	QHFIX	ALLW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	1.62	-0.61

Drawdowns

QHFIX vs. ALLW - Drawdown Comparison

The maximum QHFIX drawdown since its inception was -13.85%, which is greater than ALLW's maximum drawdown of -8.78%. Use the drawdown chart below to compare losses from any high point for QHFIX and ALLW.

Drawdown Indicators

	QHFIX	ALLW	Difference
Max Drawdown Largest peak-to-trough decline	-13.85%	-8.78%	-5.07%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.23%	—
Current Drawdown Current decline from peak	-0.24%	-0.79%	+0.55%
Average Drawdown Average peak-to-trough decline	-5.04%	-1.20%	-3.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.70%	—

Volatility

Volatility by Period

	QHFIX	ALLW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.71%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.42%	10.52%	+5.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.42%	12.54%	+3.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.42%	12.54%	+3.88%

QHFIX vs. ALLW - Expense Ratio Comparison

QHFIX has a 6.69% expense ratio, which is higher than ALLW's 0.85% expense ratio.

Dividends

QHFIX vs. ALLW - Dividend Comparison

QHFIX has not paid dividends to shareholders, while ALLW's dividend yield for the trailing twelve months is around 4.28%.

Position	TTM	2025
ALLW SPDR Bridgewater All Weather ETF	4.28%	4.67%
QHFIX AQR MS Fusion HV Fund Fund Class I	0.00%	0.00%

Frequently Asked Questions

Can I hold both QHFIX and ALLW in my portfolio?

QHFIX and ALLW have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.