QIS vs. QSPIX
QIS (Simplify Multi-Qis Alternative ETF) and QSPIX (AQR Style Premia Alternative Fund) are both Multistrategy funds. Over the past 3 years, QIS returned -24.70%/yr vs 19.61%/yr for QSPIX. At a 0.09 correlation, their price movements are largely independent. QIS charges 1.00%/yr vs 1.49%/yr for QSPIX.
Performance
QIS vs. QSPIX - Performance Comparison
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Returns By Period
In the year-to-date period, QIS achieves a -32.48% return, which is significantly lower than QSPIX's 13.18% return.
QIS
- 1D
- -3.21%
- 1M
- -5.60%
- 6M
- -35.50%
- YTD
- -32.48%
- 1Y
- -51.81%
- 3Y*
- -24.70%
- 5Y*
- —
- 10Y*
- —
QSPIX
- 1D
- 0.10%
- 1M
- 1.24%
- 6M
- 15.18%
- YTD
- 13.18%
- 1Y
- 21.17%
- 3Y*
- 19.61%
- 5Y*
- 19.34%
- 10Y*
- 7.35%
QIS vs. QSPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
QIS Simplify Multi-Qis Alternative ETF | -32.48% | -38.02% | 0.19% | 2.08% |
QSPIX AQR Style Premia Alternative Fund | 13.18% | 14.82% | 21.48% | 8.13% |
Correlation
The correlation between QIS and QSPIX is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2023 | 0.09 |
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Return for Risk
QIS vs. QSPIX — Risk / Return Rank
QIS
QSPIX
QIS vs. QSPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Multi-Qis Alternative ETF (QIS) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| QIS | QSPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.54 | ||
| Sortino ratioReturn per unit of downside risk | -5.46 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.38 | -0.63 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 4.15 | -5.11 |
| Martin ratioReturn relative to average drawdown | -1.68 | 11.33 | -13.00 |
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Drawdowns
QIS vs. QSPIX - Drawdown Comparison
The maximum QIS drawdown since its inception was -61.25%, which is greater than QSPIX's maximum drawdown of -41.37%. Use the drawdown chart below to compare losses from any high point for QIS and QSPIX.
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Drawdown Indicators
| QIS | QSPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.25% | -41.37% | -19.88% |
Max Drawdown (1Y)Largest decline over 1 year | -53.92% | -5.09% | -48.83% |
Max Drawdown (3Y)Largest decline over 3 years | -61.25% | -9.31% | -51.94% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.13% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.37% | — |
Current DrawdownCurrent decline from peak | -60.41% | -0.71% | -59.70% |
Average DrawdownAverage peak-to-trough decline | -15.42% | -9.35% | -6.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.89% | 1.86% | +29.03% |
Volatility
QIS vs. QSPIX - Volatility Comparison
Simplify Multi-Qis Alternative ETF (QIS) has a higher volatility of 9.92% compared to AQR Style Premia Alternative Fund (QSPIX) at 2.60%. This indicates that QIS's price experiences larger fluctuations and is considered to be riskier than QSPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QIS | QSPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.92% | 2.60% | +7.32% |
Volatility (6M)Calculated over the trailing 6-month period | 31.16% | 7.07% | +24.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.39% | 9.69% | +28.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.48% | 15.84% | +13.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.48% | 12.84% | +16.64% |
QIS vs. QSPIX - Expense Ratio Comparison
QIS has a 1.00% expense ratio, which is lower than QSPIX's 1.49% expense ratio.
Dividends
QIS vs. QSPIX - Dividend Comparison
QIS's dividend yield for the trailing twelve months is around 2.02%, less than QSPIX's 2.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QIS Simplify Multi-Qis Alternative ETF | 2.02% | 3.37% | 1.07% | 3.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QSPIX AQR Style Premia Alternative Fund | 2.27% | 2.57% | 6.95% | 23.77% | 22.68% | 12.78% | 0.00% | 1.62% | 0.96% | 7.08% | 1.74% | 5.83% |
Frequently Asked Questions
QIS and QSPIX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QIS has higher volatility (9.92%) compared to QSPIX (2.60%). In terms of maximum drawdown, QIS dropped -61.25% vs QSPIX's -41.37%.
QSPIX currently has the higher Sharpe Ratio (2.19 vs -1.35), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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