QRPNX vs. QCFIX

Last updated Jun 3, 2026

QRPNX (AQR Alternative Risk Premia Fund Class N) and QCFIX (AQR CVX Fusion Fund Class I) are both mutual funds - QRPNX is a Multistrategy fund actively managed by AQR, while QCFIX is a Systematic Trend fund actively managed by AQR. Both are actively managed. At a 0.45 correlation, their price movements are largely independent. QRPNX charges 5.29%/yr vs 2.17%/yr for QCFIX.

Performance

QRPNX vs. QCFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Alternative Risk Premia Fund Class N (QRPNX) and AQR CVX Fusion Fund Class I (QCFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QRPNX achieves a 19.06% return, which is significantly higher than QCFIX's 17.84% return.

QRPNX

• 1D: 1.75%
• 1M: 4.44%
• YTD: 19.06%
• 6M: 20.09%
• 1Y: 35.78%
• 3Y*: 23.50%
• 5Y*: 19.47%
• 10Y*: —

QCFIX

• 1D: 1.00%
• 1M: 5.14%
• YTD: 17.84%
• 6M: 18.57%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QRPNX vs. QCFIX - Yearly Performance Comparison

	2026 (YTD)	2025
QRPNX AQR Alternative Risk Premia Fund Class N	19.06%	0.28%
QCFIX AQR CVX Fusion Fund Class I	17.84%	2.00%

Correlation

The correlation between QRPNX and QCFIX is 0.45, 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	0.45

Return for Risk

QRPNX vs. QCFIX — Risk / Return Rank

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

QRPNX

QRPNX Risk / Return Rank: 97
QRPNX Sharpe Ratio Rank: 98
QRPNX Sortino Ratio Rank: 97
QRPNX Omega Ratio Rank: 94
QRPNX Calmar Ratio Rank: 99
QRPNX Martin Ratio Rank: 98

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.

QRPNX vs. QCFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Alternative Risk Premia Fund Class N (QRPNX) and AQR CVX Fusion Fund Class I (QCFIX). 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.

	QRPNX	QCFIX	Difference
Sharpe ratio Return per unit of total volatility	4.02	—	—
Sortino ratio Return per unit of downside risk	5.85	—	—
Omega ratio Gain probability vs. loss probability	1.73	—	—
Calmar ratio Return relative to maximum drawdown	10.35	—	—
Martin ratio Return relative to average drawdown	29.91	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	QRPNX	QCFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.02	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.66	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	2.84	-2.01

Drawdowns

QRPNX vs. QCFIX - Drawdown Comparison

The maximum QRPNX drawdown since its inception was -28.78%, which is greater than QCFIX's maximum drawdown of -7.93%. Use the drawdown chart below to compare losses from any high point for QRPNX and QCFIX.

Drawdown Indicators

	QRPNX	QCFIX	Difference
Max Drawdown Largest peak-to-trough decline	-28.78%	-7.93%	-20.85%
Max Drawdown (1Y) Largest decline over 1 year	-3.51%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-11.22%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.22%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.85%	-1.59%	-6.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.22%	—	—

Volatility

Volatility by Period

	QRPNX	QCFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.76%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.75%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.21%	14.63%	-5.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.76%	14.63%	-2.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.32%	14.63%	-4.31%

QRPNX vs. QCFIX - Expense Ratio Comparison

QRPNX has a 5.29% expense ratio, which is higher than QCFIX's 2.17% expense ratio.

Dividends

QRPNX vs. QCFIX - Dividend Comparison

QRPNX's dividend yield for the trailing twelve months is around 0.95%, less than QCFIX's 6.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
QCFIX AQR CVX Fusion Fund Class I	6.64%	7.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QRPNX AQR Alternative Risk Premia Fund Class N	0.95%	1.14%	2.04%	4.33%	0.00%	3.84%	1.98%	0.57%	0.07%

Frequently Asked Questions

Can I hold both QRPNX and QCFIX in my portfolio?

QRPNX and QCFIX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.