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QRPNX vs. QSPIX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

QRPNX vs. QSPIX

Last updated Apr 2, 2026

Compare and contrast key facts about AQR Alternative Risk Premia Fund Class N (QRPNX) and AQR Style Premia Alternative Fund (QSPIX).

QRPNX is an actively managed fund by AQR. It was launched on Sep 19, 2017. QSPIX is managed by AQR Funds. It was launched on Oct 29, 2013.

Performance

QRPNX vs. QSPIX - 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 Style Premia Alternative Fund (QSPIX). The values are adjusted to include any dividend payments, if applicable.

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QRPNX vs. QSPIX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
QRPNX
AQR Alternative Risk Premia Fund Class N		9.02%23.09%18.64%6.94%24.83%14.04%-21.20%-3.25%-4.58%
QSPIX
AQR Style Premia Alternative Fund		9.83%14.82%21.48%12.46%30.76%24.93%-21.96%-8.22%-10.72%

Returns By Period

In the year-to-date period, QRPNX achieves a 9.02% return, which is significantly lower than QSPIX's 9.83% return.

QRPNX

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

QSPIX

1D
-0.11%
1M
3.04%
YTD
9.83%
6M
13.08%
1Y
12.95%
3Y*
19.88%
5Y*
18.87%
10Y*
7.03%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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AQR Alternative Risk Premia Fund Class N

AQR Style Premia Alternative Fund

Often compared with QRPNX:
QRPNX vs. ADANXQRPNX vs. SMSAXQRPNX vs. VVOAXQRPNX vs. SHRIXQRPNX vs. QSPNXQRPNX vs. TNMAXQRPNX vs. FABZX
Often compared with QSPIX:
QSPIX vs. QDSIXQSPIX vs. QRPIXQSPIX vs. AQMIXQSPIX vs. SPYQSPIX vs. GAFYXQSPIX vs. AQRIXQSPIX vs. GFSYX

QRPNX vs. QSPIX - Expense Ratio Comparison

QRPNX has a 5.29% expense ratio, which is higher than QSPIX's 1.49% expense ratio.

QRPNX
AQR Alternative Risk Premia Fund Class N
QSPIX
AQR Style Premia Alternative Fund

Return for Risk

QRPNX vs. QSPIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QRPNX
QRPNX Risk / Return Rank: 7979
Overall Rank
QRPNX Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
QRPNX Sortino Ratio Rank: 8383
Sortino Ratio Rank
QRPNX Omega Ratio Rank: 8686
Omega Ratio Rank
QRPNX Calmar Ratio Rank: 7676
Calmar Ratio Rank
QRPNX Martin Ratio Rank: 6464
Martin Ratio Rank
QSPIX
QSPIX Risk / Return Rank: 6868
Overall Rank
QSPIX Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
QSPIX Sortino Ratio Rank: 7474
Sortino Ratio Rank
QSPIX Omega Ratio Rank: 6565
Omega Ratio Rank
QSPIX Calmar Ratio Rank: 7272
Calmar Ratio Rank
QSPIX Martin Ratio Rank: 5252
Martin Ratio Rank
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. QSPIX - 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 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.

QRPNXQSPIXDifference

Sharpe ratio

Return per unit of total volatility

1.80

1.38

+0.42

Sortino ratio

Return per unit of downside risk

2.22

1.89

+0.33

Omega ratio

Gain probability vs. loss probability

1.36

1.25

+0.11

Calmar ratio

Return relative to maximum drawdown

1.91

1.74

+0.17

Martin ratio

Return relative to average drawdown

6.45

5.25

+1.20

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. QSPIX - Sharpe Ratio Comparison

The current QRPNX Sharpe Ratio is 1.80, which is higher than the QSPIX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of QRPNX and QSPIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

QRPNXQSPIXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.80

1.38

+0.42

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.50

1.19

+0.31

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.55

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.73

0.61

+0.12

Correlation

The correlation between QRPNX and QSPIX is 0.84, 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. QSPIX - Dividend Comparison

QRPNX's dividend yield for the trailing twelve months is around 1.04%, less than QSPIX's 2.34% yield.

TTM20252024202320222021202020192018201720162015
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%0.00%0.00%0.00%
QSPIX
AQR Style Premia Alternative Fund		2.34%2.57%6.95%23.77%22.68%12.78%0.00%1.62%0.96%7.08%1.74%5.83%

Drawdowns

QRPNX vs. QSPIX - Drawdown Comparison

The maximum QRPNX drawdown since its inception was -28.78%, smaller than the maximum QSPIX drawdown of -41.37%. Use the drawdown chart below to compare losses from any high point for QRPNX and QSPIX.

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Drawdown Indicators

QRPNXQSPIXDifference

Max Drawdown

Largest peak-to-trough decline

-28.78%

-41.37%

+12.59%

Max Drawdown (1Y)

Largest decline over 1 year

-10.79%

-7.79%

-3.00%

Max Drawdown (5Y)

Largest decline over 5 years

-11.22%

-17.13%

+5.91%

Max Drawdown (10Y)

Largest decline over 10 years

—

-41.37%

—

Current Drawdown

Current decline from peak

-0.47%

-0.31%

-0.16%

Average Drawdown

Average peak-to-trough decline

-8.01%

-9.54%

+1.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.26%

2.70%

+0.56%

Volatility

QRPNX vs. QSPIX - Volatility Comparison

AQR Alternative Risk Premia Fund Class N (QRPNX) and AQR Style Premia Alternative Fund (QSPIX) have volatilities of 2.56% and 2.57%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QRPNXQSPIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.56%

2.57%

-0.01%

Volatility (6M)

Calculated over the trailing 6-month period

6.48%

6.59%

-0.11%

Volatility (1Y)

Calculated over the trailing 1-year period

11.41%

10.11%

+1.30%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.69%

15.95%

-4.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.33%

12.76%

-2.43%