QSPIX vs. FCRIX

Last updated Apr 1, 2026

Compare and contrast key facts about AQR Style Premia Alternative Fund (QSPIX) and FS Credit Income Fund Class I (FCRIX).

QSPIX is managed by AQR Funds. It was launched on Oct 29, 2013. FCRIX is an actively managed fund by FS Investments. It was launched on Nov 1, 2017.

Performance

QSPIX vs. FCRIX - Performance Comparison

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

QSPIX vs. FCRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
QSPIX AQR Style Premia Alternative Fund	9.94%	14.82%	21.48%	12.46%	30.76%	24.93%	-21.96%	-3.51%
FCRIX FS Credit Income Fund Class I	0.85%	7.88%	9.57%	11.96%	-10.70%	7.50%	8.27%	2.47%

Returns By Period

In the year-to-date period, QSPIX achieves a 9.94% return, which is significantly higher than FCRIX's 0.85% return.

QSPIX

• 1D: -0.21%
• 1M: 3.82%
• YTD: 9.94%
• 6M: 12.16%
• 1Y: 13.99%
• 3Y*: 19.92%
• 5Y*: 18.65%
• 10Y*: 7.05%

FCRIX

• 1D: 0.00%
• 1M: -0.25%
• YTD: 0.85%
• 6M: 2.90%
• 1Y: 7.38%
• 3Y*: 9.04%
• 5Y*: 4.50%
• 10Y*: —

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

QSPIX vs. FCRIX - Expense Ratio Comparison

QSPIX has a 1.49% expense ratio, which is lower than FCRIX's 2.37% expense ratio.

FCRIX

FS Credit Income Fund Class I

QSPIX

AQR Style Premia Alternative Fund

Return for Risk

QSPIX vs. FCRIX — Risk / Return Rank

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

QSPIX

QSPIX Risk / Return Rank: 72
QSPIX Sharpe Ratio Rank: 79
QSPIX Sortino Ratio Rank: 78
QSPIX Omega Ratio Rank: 70
QSPIX Calmar Ratio Rank: 76
QSPIX Martin Ratio Rank: 55

FCRIX

FCRIX Risk / Return Rank: 98
FCRIX Sharpe Ratio Rank: 96
FCRIX Sortino Ratio Rank: 99
FCRIX Omega Ratio Rank: 99
FCRIX Calmar Ratio Rank: 99
FCRIX 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.

QSPIX vs. FCRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Style Premia Alternative Fund (QSPIX) 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.

	QSPIX	FCRIX	Difference
Sharpe ratio Return per unit of total volatility	1.42	2.49	-1.07
Sortino ratio Return per unit of downside risk	1.94	6.31	-4.37
Omega ratio Gain probability vs. loss probability	1.26	2.39	-1.13
Calmar ratio Return relative to maximum drawdown	1.76	5.76	-4.00
Martin ratio Return relative to average drawdown	5.29	23.57	-18.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QSPIX vs. FCRIX - Sharpe Ratio Comparison

The current QSPIX Sharpe Ratio is 1.42, which is lower than the FCRIX Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of QSPIX and FCRIX, 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

	QSPIX	FCRIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	2.49	-1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.18	1.08	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.83	-0.22

Correlation

The correlation between QSPIX and FCRIX is -0.07. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

QSPIX vs. FCRIX - Dividend Comparison

QSPIX's dividend yield for the trailing twelve months is around 2.34%, less than FCRIX's 9.52% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
FCRIX FS Credit Income Fund Class I	9.52%	10.54%	8.27%	5.56%	3.25%	5.62%	5.72%	2.91%	0.00%	0.00%	0.00%	0.00%

Drawdowns

QSPIX vs. FCRIX - Drawdown Comparison

The maximum QSPIX drawdown since its inception was -41.37%, which is greater than FCRIX's maximum drawdown of -26.74%. Use the drawdown chart below to compare losses from any high point for QSPIX and FCRIX.

Drawdown Indicators

	QSPIX	FCRIX	Difference
Max Drawdown Largest peak-to-trough decline	-41.37%	-26.74%	-14.63%
Max Drawdown (1Y) Largest decline over 1 year	-8.11%	-1.31%	-6.80%
Max Drawdown (5Y) Largest decline over 5 years	-17.13%	-15.33%	-1.80%
Max Drawdown (10Y) Largest decline over 10 years	-41.37%	—	—
Current Drawdown Current decline from peak	-0.21%	-0.25%	+0.04%
Average Drawdown Average peak-to-trough decline	-9.54%	-3.28%	-6.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	0.34%	+2.36%

Volatility

QSPIX vs. FCRIX - Volatility Comparison

AQR Style Premia Alternative Fund (QSPIX) has a higher volatility of 2.61% compared to FS Credit Income Fund Class I (FCRIX) at 0.22%. This indicates that QSPIX'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

	QSPIX	FCRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	0.22%	+2.39%
Volatility (6M) Calculated over the trailing 6-month period	6.62%	2.06%	+4.56%
Volatility (1Y) Calculated over the trailing 1-year period	10.12%	3.33%	+6.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.98%	4.20%	+11.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.76%	6.48%	+6.28%