QRPIX vs. QDSIX

Last updated Jun 4, 2026

QRPIX (AQR Alternative Risk Premia Fund) and QDSIX (AQR Diversifying Strategies Fund) are both Multistrategy funds from AQR Funds. Over the past 5 years, QRPIX returned 19.56%/yr vs 11.18%/yr for QDSIX. A 0.80 correlation means they provide meaningful diversification when combined. QRPIX charges 1.40%/yr vs 0.20%/yr for QDSIX.

Performance

QRPIX vs. QDSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Alternative Risk Premia Fund (QRPIX) and AQR Diversifying Strategies Fund (QDSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QRPIX achieves a 18.92% return, which is significantly higher than QDSIX's 6.42% return.

QRPIX

• 1D: -0.18%
• 1M: 3.29%
• YTD: 18.92%
• 6M: 21.21%
• 1Y: 35.36%
• 3Y*: 23.68%
• 5Y*: 19.56%
• 10Y*: —

QDSIX

• 1D: 0.07%
• 1M: 1.50%
• YTD: 6.42%
• 6M: 7.88%
• 1Y: 15.05%
• 3Y*: 13.91%
• 5Y*: 11.18%
• 10Y*: —

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

QRPIX vs. QDSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
QRPIX AQR Alternative Risk Premia Fund	18.92%	23.39%	18.85%	7.23%	25.26%	14.27%	-7.66%
QDSIX AQR Diversifying Strategies Fund	6.42%	16.36%	9.71%	8.88%	14.69%	10.64%	5.50%

Correlation

The correlation between QRPIX and QDSIX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jun 11, 2020	0.80

The correlation between QRPIX and QDSIX has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.

Return for Risk

QRPIX vs. QDSIX — Risk / Return Rank

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

QRPIX

QRPIX Risk / Return Rank: 97
QRPIX Sharpe Ratio Rank: 98
QRPIX Sortino Ratio Rank: 97
QRPIX Omega Ratio Rank: 93
QRPIX Calmar Ratio Rank: 99
QRPIX Martin Ratio Rank: 98

QDSIX

QDSIX Risk / Return Rank: 92
QDSIX Sharpe Ratio Rank: 91
QDSIX Sortino Ratio Rank: 92
QDSIX Omega Ratio Rank: 86
QDSIX Calmar Ratio Rank: 98
QDSIX Martin Ratio Rank: 95

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.

QRPIX vs. QDSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Alternative Risk Premia Fund (QRPIX) and AQR Diversifying Strategies Fund (QDSIX). 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.

	QRPIX	QDSIX	Difference
Sharpe ratio: Return per unit of total volatility	3.92	3.05	+0.87
Sortino ratio: Return per unit of downside risk	5.70	4.56	+1.15
Omega ratio: Gain probability vs. loss probability	1.71	1.59	+0.12
Calmar ratio: Return relative to maximum drawdown	10.37	7.82	+2.55
Martin ratio: Return relative to average drawdown	29.91	22.82	+7.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QRPIX vs. QDSIX - Sharpe Ratio Comparison

The current QRPIX Sharpe Ratio is 3.92, which is comparable to the QDSIX Sharpe Ratio of 3.05. The chart below compares the historical Sharpe Ratios of QRPIX and QDSIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QRPIX	QDSIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.92	3.05	+0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.67	1.47	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	1.66	-0.82

Drawdowns

QRPIX vs. QDSIX - Drawdown Comparison

The maximum QRPIX drawdown since its inception was -28.45%, which is greater than QDSIX's maximum drawdown of -7.06%. Use the drawdown chart below to compare losses from any high point for QRPIX and QDSIX.

Drawdown Indicators

	QRPIX	QDSIX	Difference
Max Drawdown Largest peak-to-trough decline	-28.45%	-7.06%	-21.39%
Max Drawdown (1Y) Largest decline over 1 year	-3.48%	-1.96%	-1.52%
Max Drawdown (3Y) Largest decline over 3 years	-11.29%	-6.90%	-4.39%
Max Drawdown (5Y) Largest decline over 5 years	-11.29%	-7.06%	-4.23%
Current Drawdown Current decline from peak	-0.18%	0.00%	-0.18%
Average Drawdown Average peak-to-trough decline	-7.64%	-1.44%	-6.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.20%	0.67%	+0.53%

Volatility

QRPIX vs. QDSIX - Volatility Comparison

AQR Alternative Risk Premia Fund (QRPIX) has a higher volatility of 2.81% compared to AQR Diversifying Strategies Fund (QDSIX) at 1.38%. This indicates that QRPIX's price experiences larger fluctuations and is considered to be riskier than QDSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QRPIX	QDSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.81%	1.38%	+1.43%
Volatility (6M) Calculated over the trailing 6-month period	6.76%	3.60%	+3.16%
Volatility (1Y) Calculated over the trailing 1-year period	9.23%	5.04%	+4.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.80%	7.64%	+4.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.35%	7.32%	+3.03%

QRPIX vs. QDSIX - Expense Ratio Comparison

QRPIX has a 1.40% expense ratio, which is higher than QDSIX's 0.20% expense ratio.

Dividends

QRPIX vs. QDSIX - Dividend Comparison

QRPIX's dividend yield for the trailing twelve months is around 1.22%, less than QDSIX's 2.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
QDSIX AQR Diversifying Strategies Fund	2.10%	2.23%	0.00%	11.35%	8.22%	6.07%	1.93%	0.00%	0.00%
QRPIX AQR Alternative Risk Premia Fund	1.22%	1.45%	2.24%	4.52%	0.00%	4.08%	1.98%	0.85%	0.09%

Frequently Asked Questions

Can I hold both QRPIX and QDSIX in my portfolio?

QRPIX and QDSIX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QRPIX or QDSIX?

QRPIX has higher volatility (2.81%) compared to QDSIX (1.38%). In terms of maximum drawdown, QRPIX dropped -28.45% vs QDSIX's -7.06%.

Which has better risk-adjusted returns?

QRPIX currently has the higher Sharpe Ratio (3.92 vs 3.05), 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.