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QSPNX vs. QRPNX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

QSPNX vs. QRPNX

Last updated Apr 2, 2026

Compare and contrast key facts about AQR Style Premia Alternative Fund Class N (QSPNX) and AQR Alternative Risk Premia Fund Class N (QRPNX).

QSPNX is an actively managed fund by AQR. It was launched on Oct 30, 2013. QRPNX is an actively managed fund by AQR. It was launched on Sep 19, 2017.

Performance

QSPNX vs. QRPNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Style Premia Alternative Fund Class N (QSPNX) and AQR Alternative Risk Premia Fund Class N (QRPNX). The values are adjusted to include any dividend payments, if applicable.

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QSPNX vs. QRPNX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
QSPNX
AQR Style Premia Alternative Fund Class N		9.85%14.35%21.33%12.14%30.40%24.63%-22.17%-8.35%-10.97%
QRPNX
AQR Alternative Risk Premia Fund Class N		9.02%23.09%18.64%6.94%24.83%14.04%-21.20%-3.25%-4.58%

Returns By Period

In the year-to-date period, QSPNX achieves a 9.85% return, which is significantly higher than QRPNX's 9.02% return.

QSPNX

1D
-0.11%
1M
3.08%
YTD
9.85%
6M
12.90%
1Y
12.64%
3Y*
19.61%
5Y*
18.57%
10Y*
6.77%

QRPNX

1D
0.47%
1M
-0.13%
YTD
9.02%
6M
14.05%
1Y
19.10%
3Y*
19.88%
5Y*
17.45%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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AQR Style Premia Alternative Fund Class N

AQR Alternative Risk Premia Fund Class N

Often compared with QSPNX:
QSPNX vs. FCRIXQSPNX vs. FABZXQSPNX vs. RMDFXQSPNX vs. RYMQXQSPNX vs. QCFNXQSPNX vs. SYMIXQSPNX vs. TNMAX
Often compared with QRPNX:
QRPNX vs. ADANXQRPNX vs. SMSAXQRPNX vs. VVOAXQRPNX vs. SHRIXQRPNX vs. TNMAXQRPNX vs. FABZXQRPNX vs. FCRIX

QSPNX vs. QRPNX - Expense Ratio Comparison

QSPNX has a 6.14% expense ratio, which is higher than QRPNX's 5.29% expense ratio.

QSPNX
AQR Style Premia Alternative Fund Class N
QRPNX
AQR Alternative Risk Premia Fund Class N

Return for Risk

QSPNX vs. QRPNX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QSPNX
QSPNX Risk / Return Rank: 5757
Overall Rank
QSPNX Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
QSPNX Sortino Ratio Rank: 6464
Sortino Ratio Rank
QSPNX Omega Ratio Rank: 5555
Omega Ratio Rank
QSPNX Calmar Ratio Rank: 5959
Calmar Ratio Rank
QSPNX Martin Ratio Rank: 4040
Martin Ratio Rank
QRPNX
QRPNX Risk / Return Rank: 7979
Overall Rank
QRPNX Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
QRPNX Sortino Ratio Rank: 8383
Sortino Ratio Rank
QRPNX Omega Ratio Rank: 8686
Omega Ratio Rank
QRPNX Calmar Ratio Rank: 7676
Calmar Ratio Rank
QRPNX Martin Ratio Rank: 6464
Martin Ratio Rank
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.

QSPNX vs. QRPNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Style Premia Alternative Fund Class N (QSPNX) and AQR Alternative Risk Premia Fund Class N (QRPNX). 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.

QSPNXQRPNXDifference

Sharpe ratio

Return per unit of total volatility

1.35

1.80

-0.45

Sortino ratio

Return per unit of downside risk

1.85

2.22

-0.37

Omega ratio

Gain probability vs. loss probability

1.25

1.36

-0.12

Calmar ratio

Return relative to maximum drawdown

1.68

1.91

-0.23

Martin ratio

Return relative to average drawdown

5.06

6.45

-1.39

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QSPNX vs. QRPNX - Sharpe Ratio Comparison

The current QSPNX Sharpe Ratio is 1.35, which is comparable to the QRPNX Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of QSPNX and QRPNX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

QSPNXQRPNXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.35

1.80

-0.45

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.17

1.50

-0.33

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.53

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

0.73

-0.14

Correlation

The correlation between QSPNX and QRPNX is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

QSPNX vs. QRPNX - Dividend Comparison

QSPNX's dividend yield for the trailing twelve months is around 2.18%, more than QRPNX's 1.04% yield.

TTM20252024202320222021202020192018201720162015
QSPNX
AQR Style Premia Alternative Fund Class N		2.18%2.39%6.80%23.73%22.62%12.61%0.00%1.63%0.51%6.81%1.75%5.68%
QRPNX
AQR Alternative Risk Premia Fund Class N		1.04%1.14%2.04%4.33%0.00%3.84%1.98%0.57%0.07%0.00%0.00%0.00%

Drawdowns

QSPNX vs. QRPNX - Drawdown Comparison

The maximum QSPNX drawdown since its inception was -41.79%, which is greater than QRPNX's maximum drawdown of -28.78%. Use the drawdown chart below to compare losses from any high point for QSPNX and QRPNX.

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Drawdown Indicators

QSPNXQRPNXDifference

Max Drawdown

Largest peak-to-trough decline

-41.79%

-28.78%

-13.01%

Max Drawdown (1Y)

Largest decline over 1 year

-7.78%

-10.79%

+3.01%

Max Drawdown (5Y)

Largest decline over 5 years

-17.17%

-11.22%

-5.95%

Max Drawdown (10Y)

Largest decline over 10 years

-41.79%

—

—

Current Drawdown

Current decline from peak

-0.21%

-0.47%

+0.26%

Average Drawdown

Average peak-to-trough decline

-9.72%

-8.01%

-1.71%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.74%

3.26%

-0.52%

Volatility

QSPNX vs. QRPNX - Volatility Comparison

AQR Style Premia Alternative Fund Class N (QSPNX) and AQR Alternative Risk Premia Fund Class N (QRPNX) have volatilities of 2.64% and 2.56%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QSPNXQRPNXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.64%

2.56%

+0.08%

Volatility (6M)

Calculated over the trailing 6-month period

6.59%

6.48%

+0.11%

Volatility (1Y)

Calculated over the trailing 1-year period

10.11%

11.41%

-1.30%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.93%

11.69%

+4.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.76%

10.33%

+2.43%