QRPRX vs. FCRIX

Last updated Aug 1, 2026

QRPRX (AQR Alternative Risk Premia R6) and FCRIX (FS Credit Income Fund Class I) are both Multistrategy funds. Both are actively managed. Over the past 5 years, QRPRX returned 19.99%/yr vs 4.26%/yr for FCRIX. Their -0.10 correlation means they have often moved in opposite directions in the past. QRPRX charges 4.94%/yr vs 2.37%/yr for FCRIX.

Performance

QRPRX vs. FCRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Alternative Risk Premia R6 (QRPRX) and FS Credit Income Fund Class I (FCRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QRPRX achieves a 22.10% return, which is significantly higher than FCRIX's 3.24% return.

QRPRX

• 1D: 0.18%
• 1M: 5.64%
• 6M: 16.93%
• YTD: 22.10%
• 1Y: 37.43%
• 3Y*: 22.90%
• 5Y*: 19.99%
• 10Y*: —
• ALL TIME*: 9.01%

FCRIX

• 1D: 0.00%
• 1M: -0.25%
• 6M: 2.55%
• YTD: 3.24%
• 1Y: 6.66%
• 3Y*: 8.27%
• 5Y*: 4.26%
• 10Y*: —
• ALL TIME*: 5.36%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FCRIX FS Credit Income Fund Class I	$0.00	$0.00	$0.00
QRPRX AQR Alternative Risk Premia R6	$0.00	$0.00	$0.00

QRPRX vs. FCRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
QRPRX AQR Alternative Risk Premia R6	22.10%	23.57%	18.88%	7.30%	25.46%	14.33%	-20.91%	-3.67%
FCRIX FS Credit Income Fund Class I	3.24%	7.88%	8.86%	11.96%	-10.70%	7.50%	8.27%	2.47%

Correlation

The correlation between QRPRX and FCRIX is -0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.04
Correlation (3Y) Balances recent behavior with more history.	-0.05
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.11
Correlation (All Time) Calculated using the full available price history since Jul 11, 2019	-0.10

Return for Risk

QRPRX vs. FCRIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QRPRX

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

FCRIX

FCRIX Risk / Return Rank: 98
FCRIX Sharpe Ratio Rank: 95
FCRIX Sortino Ratio Rank: 100
FCRIX Omega Ratio Rank: 99
FCRIX Calmar Ratio Rank: 99
FCRIX Martin Ratio Rank: 99

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QRPRX vs. FCRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Alternative Risk Premia R6 (QRPRX) and FS Credit Income Fund Class I (FCRIX). 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.

	QRPRX	FCRIX	Difference
Sharpe ratio: Return per unit of total volatility	3.80	2.55	+1.24
Sortino ratio: Return per unit of downside risk	5.48	10.64	-5.16
Omega ratio: Gain probability vs. loss probability	1.68	2.66	-0.98
Calmar ratio: Return relative to maximum drawdown	10.19	8.44	+1.75
Martin ratio: Return relative to average drawdown	27.25	35.63	-8.38

QRPRX vs. FCRIX - Sharpe Ratio Comparison

The current QRPRX Sharpe Ratio is 3.80, which is higher than the FCRIX Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of QRPRX and FCRIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QRPRX vs. FCRIX - Drawdown Comparison

The maximum QRPRX drawdown since its inception was -28.21%, which is greater than FCRIX's maximum drawdown of -26.74%. Use the drawdown chart below to compare losses from any high point for QRPRX and FCRIX.

Drawdown Indicators

	QRPRX	FCRIX	Difference
Max Drawdown Largest peak-to-trough decline	-28.21%	-26.74%	-1.47%
Max Drawdown (1Y) Largest decline over 1 year	-3.51%	-0.90%	-2.61%
Max Drawdown (3Y) Largest decline over 3 years	-11.24%	-3.01%	-8.23%
Max Drawdown (5Y) Largest decline over 5 years	-11.24%	-15.33%	+4.09%
Current Drawdown Current decline from peak	0.00%	-0.25%	+0.25%
Average Drawdown Average peak-to-trough decline	-7.41%	-3.13%	-4.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.31%	0.21%	+1.10%

Volatility

QRPRX vs. FCRIX - Volatility Comparison

AQR Alternative Risk Premia R6 (QRPRX) has a higher volatility of 2.45% compared to FS Credit Income Fund Class I (FCRIX) at 0.18%. This indicates that QRPRX's price experiences larger fluctuations and is considered to be riskier than FCRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QRPRX	FCRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.45%	0.18%	+2.27%
Volatility (6M) Calculated over the trailing 6-month period	6.88%	1.96%	+4.92%
Volatility (1Y) Calculated over the trailing 1-year period	9.42%	2.98%	+6.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.88%	4.22%	+7.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.36%	6.34%	+4.02%

QRPRX vs. FCRIX - Expense Ratio Comparison

QRPRX has a 4.94% expense ratio, which is higher than FCRIX's 2.37% expense ratio.

Dividends

QRPRX vs. FCRIX - Dividend Comparison

QRPRX's dividend yield for the trailing twelve months is around 1.23%, less than FCRIX's 9.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FCRIX FS Credit Income Fund Class I	9.19%	10.54%	7.62%	5.56%	3.25%	5.62%	5.72%	2.91%	0.00%
QRPRX AQR Alternative Risk Premia R6	1.23%	1.51%	2.33%	4.60%	0.00%	4.16%	1.97%	1.00%	0.09%

Frequently Asked Questions

Can I hold both QRPRX and FCRIX in my portfolio?

QRPRX and FCRIX have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QRPRX or FCRIX?

QRPRX has higher volatility (2.45%) compared to FCRIX (0.18%). In terms of maximum drawdown, QRPRX dropped -28.21% vs FCRIX's -26.74%.

Which has better risk-adjusted returns?

QRPRX currently has the higher Sharpe Ratio (3.80 vs 2.55), 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.