QSPIX vs. QIS
QSPIX (AQR Style Premia Alternative Fund) and QIS (Simplify Multi-Qis Alternative ETF) are both Multistrategy funds. Over the past year, QSPIX returned 18.03% vs -49.59% for QIS. At a 0.08 correlation, their price movements are largely independent. QSPIX charges 1.49%/yr vs 1.00%/yr for QIS.
Performance
QSPIX vs. QIS - Performance Comparison
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Returns By Period
In the year-to-date period, QSPIX achieves a 12.37% return, which is significantly higher than QIS's -32.86% return.
QSPIX
- 1D
- -0.51%
- 1M
- 1.67%
- YTD
- 12.37%
- 6M
- 12.50%
- 1Y
- 18.03%
- 3Y*
- 18.62%
- 5Y*
- 19.90%
- 10Y*
- 7.40%
QIS
- 1D
- -3.28%
- 1M
- -24.50%
- YTD
- -32.86%
- 6M
- -35.14%
- 1Y
- -49.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QSPIX vs. QIS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
QSPIX AQR Style Premia Alternative Fund | 12.37% | 14.82% | 21.48% | 8.13% |
QIS Simplify Multi-Qis Alternative ETF | -32.86% | -38.02% | 0.19% | 2.08% |
Correlation
The correlation between QSPIX and QIS is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2023 | 0.08 |
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Return for Risk
QSPIX vs. QIS — Risk / Return Rank
QSPIX
QIS
QSPIX vs. QIS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Style Premia Alternative Fund (QSPIX) and Simplify Multi-Qis Alternative ETF (QIS). 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 | QIS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.07 | ||
| Sortino ratioReturn per unit of downside risk | +4.71 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.77 | +0.54 |
| Calmar ratioReturn relative to maximum drawdown | 3.45 | -0.88 | +4.33 |
| Martin ratioReturn relative to average drawdown | 9.37 | -1.54 | +10.91 |
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Drawdowns
QSPIX vs. QIS - Drawdown Comparison
The maximum QSPIX drawdown since its inception was -41.37%, smaller than the maximum QIS drawdown of -60.64%. Use the drawdown chart below to compare losses from any high point for QSPIX and QIS.
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Drawdown Indicators
| QSPIX | QIS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.37% | -60.64% | +19.27% |
Max Drawdown (1Y)Largest decline over 1 year | -5.09% | -56.60% | +51.51% |
Max Drawdown (3Y)Largest decline over 3 years | -9.31% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.13% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.37% | — | — |
Current DrawdownCurrent decline from peak | -1.42% | -60.64% | +59.22% |
Average DrawdownAverage peak-to-trough decline | -9.39% | -14.51% | +5.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.87% | 32.29% | -30.42% |
Volatility
QSPIX vs. QIS - Volatility Comparison
The current volatility for AQR Style Premia Alternative Fund (QSPIX) is 3.67%, while Simplify Multi-Qis Alternative ETF (QIS) has a volatility of 11.95%. This indicates that QSPIX experiences smaller price fluctuations and is considered to be less risky than QIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QSPIX | QIS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.67% | 11.95% | -8.28% |
Volatility (6M)Calculated over the trailing 6-month period | 7.22% | 30.55% | -23.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.83% | 39.06% | -29.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.87% | 29.42% | -13.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.84% | 29.42% | -16.58% |
QSPIX vs. QIS - Expense Ratio Comparison
QSPIX has a 1.49% expense ratio, which is higher than QIS's 1.00% expense ratio.
Dividends
QSPIX vs. QIS - Dividend Comparison
QSPIX's dividend yield for the trailing twelve months is around 2.29%, more than QIS's 2.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QIS Simplify Multi-Qis Alternative ETF | 2.01% | 3.37% | 1.07% | 3.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QSPIX AQR Style Premia Alternative Fund | 2.29% | 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 QIS have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QIS has higher volatility (11.95%) compared to QSPIX (3.67%). In terms of maximum drawdown, QSPIX dropped -41.37% vs QIS's -60.64%.
QSPIX currently has the higher Sharpe Ratio (1.79 vs -1.28), 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.
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