QHFRX vs. QSPIX

Last updated Apr 2, 2026

Compare and contrast key facts about AQR MS Fusion HV Fund Class R6 (QHFRX) and AQR Style Premia Alternative Fund (QSPIX).

QHFRX is an actively managed fund by AQR. It was launched on Jun 25, 2025. QSPIX is managed by AQR Funds. It was launched on Oct 29, 2013.

Performance

QHFRX vs. QSPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR MS Fusion HV Fund Class R6 (QHFRX) and AQR Style Premia Alternative Fund (QSPIX). The values are adjusted to include any dividend payments, if applicable.

QHFRX vs. QSPIX - Yearly Performance Comparison

	2026 (YTD)	2025
QHFRX AQR MS Fusion HV Fund Class R6	-10.56%	5.06%
QSPIX AQR Style Premia Alternative Fund	9.83%	-1.28%

Returns By Period

In the year-to-date period, QHFRX achieves a -10.56% return, which is significantly lower than QSPIX's 9.83% return.

QHFRX

• 1D: 1.73%
• 1M: -7.11%
• YTD: -10.56%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QSPIX

• 1D: -0.11%
• 1M: 3.04%
• YTD: 9.83%
• 6M: 13.08%
• 1Y: 12.95%
• 3Y*: 19.88%
• 5Y*: 18.87%
• 10Y*: 7.03%

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

QHFRX vs. QSPIX - Expense Ratio Comparison

QHFRX has a 6.59% expense ratio, which is higher than QSPIX's 1.49% expense ratio.

QHFRX

AQR MS Fusion HV Fund Class R6

QSPIX

AQR Style Premia Alternative Fund

Return for Risk

QHFRX vs. QSPIX — Risk / Return Rank

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

QSPIX

QSPIX Risk / Return Rank: 68
QSPIX Sharpe Ratio Rank: 75
QSPIX Sortino Ratio Rank: 74
QSPIX Omega Ratio Rank: 65
QSPIX Calmar Ratio Rank: 72
QSPIX Martin Ratio Rank: 52

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.

QHFRX vs. QSPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR MS Fusion HV Fund Class R6 (QHFRX) and AQR Style Premia Alternative Fund (QSPIX). 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

	QHFRX	QSPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.38	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.19	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.90	0.61	-1.51

Correlation

The correlation between QHFRX and QSPIX is 0.24, 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

QHFRX vs. QSPIX - Dividend Comparison

QHFRX has not paid dividends to shareholders, while QSPIX's dividend yield for the trailing twelve months is around 2.34%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QHFRX AQR MS Fusion HV Fund Class R6	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QSPIX AQR Style Premia Alternative Fund	2.34%	2.57%	6.95%	23.77%	22.68%	12.78%	0.00%	1.62%	0.96%	7.08%	1.74%	5.83%

Drawdowns

QHFRX vs. QSPIX - Drawdown Comparison

The maximum QHFRX drawdown since its inception was -13.76%, smaller than the maximum QSPIX drawdown of -41.37%. Use the drawdown chart below to compare losses from any high point for QHFRX and QSPIX.

Drawdown Indicators

	QHFRX	QSPIX	Difference
Max Drawdown Largest peak-to-trough decline	-13.76%	-41.37%	+27.61%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.79%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.13%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.37%	—
Current Drawdown Current decline from peak	-12.19%	-0.31%	-11.88%
Average Drawdown Average peak-to-trough decline	-4.32%	-9.54%	+5.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.70%	—

Volatility

Volatility by Period

	QHFRX	QSPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.57%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.59%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.47%	10.11%	+6.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.47%	15.95%	+0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.47%	12.76%	+3.71%