QRPNX vs. QDSNX

Last updated Apr 2, 2026

Compare and contrast key facts about AQR Alternative Risk Premia Fund Class N (QRPNX) and AQR Diversifying Strategies Fund Class N (QDSNX).

QRPNX is an actively managed fund by AQR. It was launched on Sep 19, 2017. QDSNX is an actively managed fund by AQR Funds. It was launched on Jun 8, 2020.

Performance

QRPNX vs. QDSNX - 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 Diversifying Strategies Fund Class N (QDSNX). The values are adjusted to include any dividend payments, if applicable.

QRPNX vs. QDSNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
QRPNX AQR Alternative Risk Premia Fund Class N	9.02%	23.09%	18.64%	6.94%	24.83%	14.04%	-7.81%
QDSNX AQR Diversifying Strategies Fund Class N	3.15%	16.14%	9.56%	8.62%	14.48%	10.35%	5.40%

Returns By Period

In the year-to-date period, QRPNX achieves a 9.02% return, which is significantly higher than QDSNX's 3.15% return.

QRPNX

• 1D: 0.47%
• 1M: -0.13%
• YTD: 9.02%
• 6M: 14.05%
• 1Y: 19.10%
• 3Y*: 19.88%
• 5Y*: 17.45%
• 10Y*: —

QDSNX

• 1D: 0.35%
• 1M: -0.83%
• YTD: 3.15%
• 6M: 5.90%
• 1Y: 11.69%
• 3Y*: 12.58%
• 5Y*: 10.95%
• 10Y*: —

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

QRPNX vs. QDSNX - Expense Ratio Comparison

QRPNX has a 5.29% expense ratio, which is higher than QDSNX's 3.30% expense ratio.

QRPNX

AQR Alternative Risk Premia Fund Class N

QDSNX

AQR Diversifying Strategies Fund Class N

Return for Risk

QRPNX vs. QDSNX — Risk / Return Rank

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

QRPNX

QRPNX Risk / Return Rank: 79
QRPNX Sharpe Ratio Rank: 88
QRPNX Sortino Ratio Rank: 83
QRPNX Omega Ratio Rank: 86
QRPNX Calmar Ratio Rank: 76
QRPNX Martin Ratio Rank: 64

QDSNX

QDSNX Risk / Return Rank: 88
QDSNX Sharpe Ratio Rank: 91
QDSNX Sortino Ratio Rank: 88
QDSNX Omega Ratio Rank: 90
QDSNX Calmar Ratio Rank: 86
QDSNX Martin Ratio Rank: 87

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. QDSNX - 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 Diversifying Strategies Fund Class N (QDSNX). 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	QDSNX	Difference
Sharpe ratio Return per unit of total volatility	1.80	1.95	-0.15
Sortino ratio Return per unit of downside risk	2.22	2.47	-0.25
Omega ratio Gain probability vs. loss probability	1.36	1.41	-0.04
Calmar ratio Return relative to maximum drawdown	1.91	2.26	-0.35
Martin ratio Return relative to average drawdown	6.45	9.64	-3.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QRPNX vs. QDSNX - Sharpe Ratio Comparison

The current QRPNX Sharpe Ratio is 1.80, which is comparable to the QDSNX Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of QRPNX and QDSNX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QRPNX	QDSNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	1.95	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.50	1.44	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	1.59	-0.86

Correlation

The correlation between QRPNX and QDSNX is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

QRPNX vs. QDSNX - Dividend Comparison

QRPNX's dividend yield for the trailing twelve months is around 1.04%, less than QDSNX's 1.93% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
QRPNX AQR Alternative Risk Premia Fund Class N	1.04%	1.14%	2.04%	4.33%	0.00%	3.84%	1.98%	0.57%	0.07%
QDSNX AQR Diversifying Strategies Fund Class N	1.93%	1.99%	0.00%	11.18%	8.01%	5.99%	1.83%	0.00%	0.00%

Drawdowns

QRPNX vs. QDSNX - Drawdown Comparison

The maximum QRPNX drawdown since its inception was -28.78%, which is greater than QDSNX's maximum drawdown of -7.15%. Use the drawdown chart below to compare losses from any high point for QRPNX and QDSNX.

Drawdown Indicators

	QRPNX	QDSNX	Difference
Max Drawdown Largest peak-to-trough decline	-28.78%	-7.15%	-21.63%
Max Drawdown (1Y) Largest decline over 1 year	-10.79%	-5.48%	-5.31%
Max Drawdown (5Y) Largest decline over 5 years	-11.22%	-7.15%	-4.07%
Current Drawdown Current decline from peak	-0.47%	-0.96%	+0.49%
Average Drawdown Average peak-to-trough decline	-8.01%	-1.49%	-6.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	1.30%	+1.96%

Volatility

QRPNX vs. QDSNX - Volatility Comparison

AQR Alternative Risk Premia Fund Class N (QRPNX) has a higher volatility of 2.56% compared to AQR Diversifying Strategies Fund Class N (QDSNX) at 1.61%. This indicates that QRPNX's price experiences larger fluctuations and is considered to be riskier than QDSNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QRPNX	QDSNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	1.61%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	6.48%	3.69%	+2.79%
Volatility (1Y) Calculated over the trailing 1-year period	11.41%	6.32%	+5.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.69%	7.63%	+4.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.33%	7.37%	+2.96%