QSPIX vs. FLSP
QSPIX (AQR Style Premia Alternative Fund - Class I) and FLSP (Franklin Liberty Systematic Style Premia ETF) are both funds - QSPIX is a Multistrategy fund managed by AQR, while FLSP is a Long-Short fund actively managed by Franklin Templeton. Over the past 5 years, QSPIX returned 20.22%/yr vs 8.28%/yr for FLSP. Their 0.18 correlation means their historical movements had little consistent relationship. QSPIX charges 1.53%/yr vs 0.65%/yr for FLSP.
Performance
QSPIX vs. FLSP - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, QSPIX achieves a 18.03% return, which is significantly higher than FLSP's 4.24% return.
QSPIX
- 1D
- 0.29%
- 1M
- 6.91%
- 6M
- 13.70%
- YTD
- 18.03%
- 1Y
- 22.52%
- 3Y*
- 20.48%
- 5Y*
- 20.22%
- 10Y*
- 7.74%
- ALL TIME*
- 7.82%
FLSP
- 1D
- -0.92%
- 1M
- 2.48%
- 6M
- 3.66%
- YTD
- 4.24%
- 1Y
- 16.24%
- 3Y*
- 10.21%
- 5Y*
- 8.28%
- 10Y*
- —
- ALL TIME*
- 4.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.41M | $2.46M | $2.78M | |
| $0.00 | $0.00 | $0.00 |
QSPIX vs. FLSP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
QSPIX AQR Style Premia Alternative Fund - Class I | 18.03% | 14.82% | 21.48% | 12.46% | 30.76% | 24.93% | -21.96% | -2.37% |
FLSP Franklin Liberty Systematic Style Premia ETF | 4.24% | 15.56% | 11.75% | 3.14% | 0.44% | 11.44% | -15.19% | 0.90% |
Correlation
The correlation between QSPIX and FLSP is 0.03, 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. | 0.03 |
Correlation (3Y) Balances recent behavior with more history. | 0.11 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.16 |
Correlation (All Time) Calculated using the full available price history since Dec 23, 2019 | 0.18 |
The correlation between QSPIX and FLSP shifts across timeframes, from 0.03 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
QSPIX vs. FLSP — Risk / Return Rank
QSPIX
FLSP
QSPIX vs. FLSP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Style Premia Alternative Fund - Class I (QSPIX) and Franklin Liberty Systematic Style Premia ETF (FLSP). 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.
| QSPIX | FLSP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.32 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.28 | 4.05 | +0.23 |
| Martin ratioReturn relative to average drawdown | 11.68 | 12.09 | -0.41 |
Loading charts...
Drawdowns
QSPIX vs. FLSP - Drawdown Comparison
The maximum QSPIX drawdown since its inception was -41.37%, which is greater than FLSP's maximum drawdown of -22.75%. Use the drawdown chart below to compare losses from any high point for QSPIX and FLSP.
Loading charts...
Drawdown Indicators
| QSPIX | FLSP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.37% | -22.75% | -18.62% |
Max Drawdown (1Y)Largest decline over 1 year | -5.09% | -4.03% | -1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -9.31% | -6.69% | -2.62% |
Max Drawdown (5Y)Largest decline over 5 years | -17.13% | -9.52% | -7.61% |
Max Drawdown (10Y)Largest decline over 10 years | -41.37% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.92% | +0.92% |
Average DrawdownAverage peak-to-trough decline | -9.32% | -6.16% | -3.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 1.35% | +0.51% |
Volatility
QSPIX vs. FLSP - Volatility Comparison
The current volatility for AQR Style Premia Alternative Fund - Class I (QSPIX) is 1.98%, while Franklin Liberty Systematic Style Premia ETF (FLSP) has a volatility of 3.07%. This indicates that QSPIX experiences smaller price fluctuations and is considered to be less risky than FLSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| QSPIX | FLSP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.98% | 3.07% | -1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 7.06% | 6.50% | +0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.61% | 8.94% | +0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.84% | 13.37% | +2.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.84% | 13.42% | -0.58% |
QSPIX vs. FLSP - Expense Ratio Comparison
QSPIX has a 1.53% expense ratio, which is higher than FLSP's 0.65% expense ratio.
Dividends
QSPIX vs. FLSP - Dividend Comparison
QSPIX's dividend yield for the trailing twelve months is around 2.18%, less than FLSP's 2.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLSP Franklin Liberty Systematic Style Premia ETF | 2.54% | 2.65% | 1.18% | 1.19% | 2.18% | 1.19% | 8.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QSPIX AQR Style Premia Alternative Fund - Class I | 2.18% | 2.57% | 6.95% | 23.77% | 22.68% | 12.78% | 0.00% | 1.62% | 0.96% | 7.08% | 1.74% | 5.83% |
Frequently Asked Questions
QSPIX and FLSP have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLSP has higher volatility (3.07%) compared to QSPIX (1.98%). In terms of maximum drawdown, QSPIX dropped -41.37% vs FLSP's -22.75%.
QSPIX currently has the higher Sharpe Ratio (2.27 vs 1.83), 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.
Find the right allocation for QSPIX and FLSP
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer