QRPRX vs. TALTX

Last updated Jun 4, 2026

QRPRX (AQR Alternative Risk Premia R6) and TALTX (Morgan Stanley Pathway Funds Alternative Strategies Fund) are both Multistrategy funds. A 0.50 correlation means they provide meaningful diversification when combined. QRPRX charges 4.94%/yr vs 0.59%/yr for TALTX.

Performance

QRPRX vs. TALTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Alternative Risk Premia R6 (QRPRX) and Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QRPRX

• 1D: -0.18%
• 1M: 3.27%
• YTD: 18.99%
• 6M: 21.26%
• 1Y: 35.44%
• 3Y*: 23.80%
• 5Y*: 19.65%
• 10Y*: —

TALTX

• 1D: 0.09%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QRPRX vs. TALTX - Yearly Performance Comparison

	2026 (YTD)
QRPRX AQR Alternative Risk Premia R6	2.37%
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	0.27%

Correlation

The correlation between QRPRX and TALTX is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	0.50

Return for Risk

QRPRX vs. TALTX — Risk / Return Rank

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

QRPRX

QRPRX Risk / Return Rank: 97
QRPRX Sharpe Ratio Rank: 98
QRPRX Sortino Ratio Rank: 97
QRPRX Omega Ratio Rank: 93
QRPRX Calmar Ratio Rank: 99
QRPRX 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.

QRPRX vs. TALTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Alternative Risk Premia R6 (QRPRX) and Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX). 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.

	QRPRX	TALTX	Difference
Sharpe ratio: Return per unit of total volatility	3.94	—	—
Sortino ratio: Return per unit of downside risk	5.74	—	—
Omega ratio: Gain probability vs. loss probability	1.72	—	—
Calmar ratio: Return relative to maximum drawdown	10.44	—	—
Martin ratio: Return relative to average drawdown	30.49	—	—
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

	QRPRX	TALTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.94	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.67	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	21.79	-20.93

Drawdowns

QRPRX vs. TALTX - Drawdown Comparison

The maximum QRPRX drawdown since its inception was -28.21%, which is greater than TALTX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for QRPRX and TALTX.

Drawdown Indicators

	QRPRX	TALTX	Difference
Max Drawdown Largest peak-to-trough decline	-28.21%	0.00%	-28.21%
Max Drawdown (1Y) Largest decline over 1 year	-3.46%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-11.24%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.24%	—	—
Current Drawdown Current decline from peak	-0.18%	0.00%	-0.18%
Average Drawdown Average peak-to-trough decline	-7.53%	0.00%	-7.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.18%	—	—

Volatility

Volatility by Period

	QRPRX	TALTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.75%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.21%	1.43%	+7.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.82%	1.43%	+10.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.37%	1.43%	+8.94%

QRPRX vs. TALTX - Expense Ratio Comparison

QRPRX has a 4.94% expense ratio, which is higher than TALTX's 0.59% expense ratio.

Dividends

QRPRX vs. TALTX - Dividend Comparison

QRPRX's dividend yield for the trailing twelve months is around 1.27%, while TALTX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
QRPRX AQR Alternative Risk Premia R6	1.27%	1.51%	2.33%	4.60%	0.00%	4.16%	1.97%	1.00%	0.09%
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QRPRX and TALTX in my portfolio?

QRPRX and TALTX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.