QQQ vs. QRPNX
QQQ (Invesco QQQ ETF) and QRPNX (AQR Alternative Risk Premia Fund Class N) are both funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while QRPNX is a Multistrategy fund actively managed by AQR. QQQ is passively managed, while QRPNX is actively managed. Over the past 5 years, QQQ returned 16.85%/yr vs 19.05%/yr for QRPNX. At a correlation of -0.07, they often move in opposite directions. QQQ charges 0.18%/yr vs 5.29%/yr for QRPNX.
Performance
QQQ vs. QRPNX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, QQQ achieves a 17.57% return, which is significantly higher than QRPNX's 16.50% return.
QQQ
- 1D
- 0.59%
- 1M
- 0.93%
- YTD
- 17.57%
- 6M
- 17.85%
- 1Y
- 35.82%
- 3Y*
- 26.43%
- 5Y*
- 16.85%
- 10Y*
- 21.79%
QRPNX
- 1D
- -0.06%
- 1M
- 0.25%
- YTD
- 16.50%
- 6M
- 19.07%
- 1Y
- 31.22%
- 3Y*
- 22.17%
- 5Y*
- 19.05%
- 10Y*
- —
QQQ vs. QRPNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
QQQ Invesco QQQ ETF | 17.57% | 20.77% | 25.58% | 54.86% | -32.58% | 27.42% | 48.62% | 38.96% | -7.25% |
QRPNX AQR Alternative Risk Premia Fund Class N | 16.50% | 23.09% | 18.64% | 6.94% | 24.83% | 14.04% | -21.20% | -3.25% | -4.58% |
Correlation
The correlation between QQQ and QRPNX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.14 |
Correlation (All Time) Calculated using the full available price history since May 21, 2018 | -0.07 |
The correlation between QQQ and QRPNX shifts across timeframes, from -0.14 (5 years) to 0.28 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
QQQ vs. QRPNX — Risk / Return Rank
QQQ
QRPNX
QQQ vs. QRPNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and AQR Alternative Risk Premia Fund Class N (QRPNX). 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.
| QQQ | QRPNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.36 | ||
| Sortino ratioReturn per unit of downside risk | -2.31 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.62 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 3.01 | 9.15 | -6.14 |
| Martin ratioReturn relative to average drawdown | 11.22 | 25.74 | -14.51 |
Loading charts...
Drawdowns
QQQ vs. QRPNX - Drawdown Comparison
The maximum QQQ drawdown since its inception was -82.97%, which is greater than QRPNX's maximum drawdown of -28.78%. Use the drawdown chart below to compare losses from any high point for QQQ and QRPNX.
Loading charts...
Drawdown Indicators
| QQQ | QRPNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.97% | -28.78% | -54.19% |
Max Drawdown (1Y)Largest decline over 1 year | -11.96% | -3.51% | -8.45% |
Max Drawdown (3Y)Largest decline over 3 years | -22.77% | -11.22% | -11.55% |
Max Drawdown (5Y)Largest decline over 5 years | -35.12% | -11.22% | -23.90% |
Max Drawdown (10Y)Largest decline over 10 years | -35.12% | — | — |
Current DrawdownCurrent decline from peak | -3.33% | -2.63% | -0.70% |
Average DrawdownAverage peak-to-trough decline | -32.75% | -7.82% | -24.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 1.25% | +1.95% |
Volatility
QQQ vs. QRPNX - Volatility Comparison
Invesco QQQ ETF (QQQ) has a higher volatility of 7.56% compared to AQR Alternative Risk Premia Fund Class N (QRPNX) at 2.98%. This indicates that QQQ's price experiences larger fluctuations and is considered to be riskier than QRPNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| QQQ | QRPNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.56% | 2.98% | +4.58% |
Volatility (6M)Calculated over the trailing 6-month period | 13.81% | 6.75% | +7.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.19% | 9.31% | +7.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.55% | 11.77% | +10.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.38% | 10.32% | +12.06% |
QQQ vs. QRPNX - Expense Ratio Comparison
QQQ has a 0.18% expense ratio, which is lower than QRPNX's 5.29% expense ratio.
Dividends
QQQ vs. QRPNX - Dividend Comparison
QQQ's dividend yield for the trailing twelve months is around 0.39%, less than QRPNX's 0.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQ Invesco QQQ ETF | 0.39% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
QRPNX AQR Alternative Risk Premia Fund Class N | 0.98% | 1.14% | 2.04% | 4.33% | 0.00% | 3.84% | 1.98% | 0.57% | 0.07% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QQQ and QRPNX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQ has higher volatility (7.56%) compared to QRPNX (2.98%). In terms of maximum drawdown, QQQ dropped -82.97% vs QRPNX's -28.78%.
QRPNX currently has the higher Sharpe Ratio (3.45 vs 2.09), 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.
Find the right allocation for QQQ and QRPNX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer