RPIDX vs. QDSNX

Last updated Jun 13, 2026

RPIDX (T. Rowe Price Dynamic Credit Fund) and QDSNX (AQR Diversifying Strategies Fund Class N) are both mutual funds - RPIDX is a Nontraditional Bonds fund managed by T. Rowe Price, while QDSNX is a Tactical Allocation fund actively managed by AQR Funds. Over the past 5 years, RPIDX returned 4.46%/yr vs 10.72%/yr for QDSNX. At a 0.03 correlation, their price movements are largely independent. RPIDX charges 0.63%/yr vs 3.30%/yr for QDSNX.

Performance

RPIDX vs. QDSNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Dynamic Credit Fund (RPIDX) and AQR Diversifying Strategies Fund Class N (QDSNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RPIDX achieves a 0.28% return, which is significantly lower than QDSNX's 4.87% return.

RPIDX

• 1D: -0.12%
• 1M: -0.28%
• YTD: 0.28%
• 6M: 1.67%
• 1Y: 7.02%
• 3Y*: 7.95%
• 5Y*: 4.46%
• 10Y*: —

QDSNX

• 1D: 0.34%
• 1M: -0.41%
• YTD: 4.87%
• 6M: 6.21%
• 1Y: 13.30%
• 3Y*: 12.84%
• 5Y*: 10.72%
• 10Y*: —

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

RPIDX vs. QDSNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
RPIDX T. Rowe Price Dynamic Credit Fund	0.28%	9.74%	9.92%	4.72%	-0.76%	6.21%	10.36%
QDSNX AQR Diversifying Strategies Fund Class N	4.87%	16.14%	9.56%	8.62%	14.48%	10.35%	5.40%

Correlation

The correlation between RPIDX and QDSNX is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.03
Correlation (All Time) Calculated using the full available price history since Jun 10, 2020	0.03

The correlation between RPIDX and QDSNX shifts across timeframes, from -0.10 (1 year) to 0.03 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

RPIDX vs. QDSNX — Risk / Return Rank

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

RPIDX

RPIDX Risk / Return Rank: 86
RPIDX Sharpe Ratio Rank: 75
RPIDX Sortino Ratio Rank: 90
RPIDX Omega Ratio Rank: 84
RPIDX Calmar Ratio Rank: 95
RPIDX Martin Ratio Rank: 86

QDSNX

QDSNX Risk / Return Rank: 92
QDSNX Sharpe Ratio Rank: 92
QDSNX Sortino Ratio Rank: 90
QDSNX Omega Ratio Rank: 86
QDSNX Calmar Ratio Rank: 98
QDSNX Martin Ratio Rank: 96

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.

RPIDX vs. QDSNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Dynamic Credit Fund (RPIDX) and AQR Diversifying Strategies Fund Class N (QDSNX). 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.

	RPIDX	QDSNX	Difference
Sharpe ratio: Return per unit of total volatility	2.08	2.71	-0.63
Sortino ratio: Return per unit of downside risk	4.01	4.02	-0.02
Omega ratio: Gain probability vs. loss probability	1.49	1.52	-0.03
Calmar ratio: Return relative to maximum drawdown	5.16	6.97	-1.81
Martin ratio: Return relative to average drawdown	13.35	19.53	-6.19

RPIDX vs. QDSNX - Sharpe Ratio Comparison

The current RPIDX Sharpe Ratio is 2.08, which is comparable to the QDSNX Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of RPIDX and QDSNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RPIDX vs. QDSNX - Drawdown Comparison

The maximum RPIDX drawdown since its inception was -19.95%, which is greater than QDSNX's maximum drawdown of -7.15%. Use the drawdown chart below to compare losses from any high point for RPIDX and QDSNX.

Drawdown Indicators

	RPIDX	QDSNX	Difference
Max Drawdown Largest peak-to-trough decline	-19.95%	-7.15%	-12.80%
Max Drawdown (1Y) Largest decline over 1 year	-1.34%	-1.97%	+0.63%
Max Drawdown (3Y) Largest decline over 3 years	-3.17%	-6.93%	+3.76%
Max Drawdown (5Y) Largest decline over 5 years	-7.31%	-7.15%	-0.16%
Current Drawdown Current decline from peak	-0.74%	-1.41%	+0.67%
Average Drawdown Average peak-to-trough decline	-1.87%	-1.45%	-0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	0.70%	-0.18%

Volatility

RPIDX vs. QDSNX - Volatility Comparison

The current volatility for T. Rowe Price Dynamic Credit Fund (RPIDX) is 0.70%, while AQR Diversifying Strategies Fund Class N (QDSNX) has a volatility of 1.72%. This indicates that RPIDX experiences smaller price fluctuations and is considered to be less risky than QDSNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RPIDX	QDSNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	1.72%	-1.02%
Volatility (6M) Calculated over the trailing 6-month period	2.57%	3.68%	-1.11%
Volatility (1Y) Calculated over the trailing 1-year period	3.34%	5.06%	-1.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.83%	7.64%	-3.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.79%	7.30%	-2.51%

RPIDX vs. QDSNX - Expense Ratio Comparison

RPIDX has a 0.63% expense ratio, which is lower than QDSNX's 3.30% expense ratio.

Dividends

RPIDX vs. QDSNX - Dividend Comparison

RPIDX's dividend yield for the trailing twelve months is around 9.92%, more than QDSNX's 1.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
QDSNX AQR Diversifying Strategies Fund Class N	1.90%	1.99%	0.00%	11.18%	8.01%	5.99%	1.83%	0.00%
RPIDX T. Rowe Price Dynamic Credit Fund	9.92%	9.91%	9.20%	6.64%	7.97%	5.34%	7.14%	4.41%

Frequently Asked Questions

Can I hold both RPIDX and QDSNX in my portfolio?

RPIDX and QDSNX have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RPIDX or QDSNX?

QDSNX has higher volatility (1.72%) compared to RPIDX (0.70%). In terms of maximum drawdown, RPIDX dropped -19.95% vs QDSNX's -7.15%.

Which has better risk-adjusted returns?

QDSNX currently has the higher Sharpe Ratio (2.71 vs 2.08), 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.