QSPIX vs. TALTX

Last updated Jun 4, 2026

QSPIX (AQR Style Premia Alternative Fund) and TALTX (Morgan Stanley Pathway Funds Alternative Strategies Fund) are both Multistrategy funds. A 0.50 correlation means they provide meaningful diversification when combined. QSPIX charges 1.49%/yr vs 0.59%/yr for TALTX.

Performance

QSPIX vs. TALTX - Performance Comparison

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

Returns By Period

QSPIX

• 1D: 0.00%
• 1M: 1.14%
• YTD: 12.83%
• 6M: 14.84%
• 1Y: 17.81%
• 3Y*: 21.40%
• 5Y*: 18.92%
• 10Y*: 7.41%

TALTX

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

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

QSPIX vs. TALTX - Yearly Performance Comparison

	2026 (YTD)
QSPIX AQR Style Premia Alternative Fund	2.74%
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	0.27%

Correlation

The correlation between QSPIX 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

QSPIX vs. TALTX — Risk / Return Rank

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

QSPIX

QSPIX Risk / Return Rank: 50
QSPIX Sharpe Ratio Rank: 42
QSPIX Sortino Ratio Rank: 46
QSPIX Omega Ratio Rank: 38
QSPIX Calmar Ratio Rank: 78
QSPIX Martin Ratio Rank: 45

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. TALTX - Risk-Adjusted Trends Comparison

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

	QSPIX	TALTX	Difference
Sharpe ratio: Return per unit of total volatility	1.89	—	—
Sortino ratio: Return per unit of downside risk	2.84	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	3.57	—	—
Martin ratio: Return relative to average drawdown	9.50	—	—
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

	QSPIX	TALTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.20	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	21.79	-21.17

Drawdowns

QSPIX vs. TALTX - Drawdown Comparison

The maximum QSPIX drawdown since its inception was -41.37%, which is greater than TALTX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for QSPIX and TALTX.

Drawdown Indicators

	QSPIX	TALTX	Difference
Max Drawdown Largest peak-to-trough decline	-41.37%	0.00%	-41.37%
Max Drawdown (1Y) Largest decline over 1 year	-5.09%	—	—
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 Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.43%	0.00%	-9.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	—	—

Volatility

Volatility by Period

	QSPIX	TALTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.15%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.19%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.61%	1.43%	+8.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.87%	1.43%	+14.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.82%	1.43%	+11.39%

QSPIX vs. TALTX - Expense Ratio Comparison

QSPIX has a 1.49% expense ratio, which is higher than TALTX's 0.59% expense ratio.

Dividends

QSPIX vs. TALTX - Dividend Comparison

QSPIX's dividend yield for the trailing twelve months is around 2.28%, while TALTX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QSPIX AQR Style Premia Alternative Fund	2.28%	2.57%	6.95%	23.77%	22.68%	12.78%	0.00%	1.62%	0.96%	7.08%	1.74%	5.83%
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%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QSPIX and TALTX in my portfolio?

QSPIX 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.