SHRIX vs. QRPIX

Last updated Apr 1, 2026

Compare and contrast key facts about Stone Ridge High Yield Reinsurance Risk Premium Fund Class I (SHRIX) and AQR Alternative Risk Premia Fund (QRPIX).

SHRIX is an actively managed fund by Stone Ridge. It was launched on Feb 1, 2013. QRPIX is managed by AQR Funds. It was launched on Sep 18, 2017.

Performance

SHRIX vs. QRPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Stone Ridge High Yield Reinsurance Risk Premium Fund Class I (SHRIX) and AQR Alternative Risk Premia Fund (QRPIX). The values are adjusted to include any dividend payments, if applicable.

SHRIX vs. QRPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SHRIX Stone Ridge High Yield Reinsurance Risk Premium Fund Class I	0.00%	10.70%	16.73%	21.07%	-3.37%	1.88%	6.86%	4.58%	-0.32%
QRPIX AQR Alternative Risk Premia Fund	8.52%	23.39%	18.85%	7.23%	25.26%	14.27%	-21.04%	-2.98%	-4.46%

Returns By Period

SHRIX

• 1D: 0.00%
• 1M: -1.44%
• YTD: 0.00%
• 6M: 3.15%
• 1Y: 12.45%
• 3Y*: 14.16%
• 5Y*: 8.98%
• 10Y*: —

QRPIX

• 1D: 0.00%
• 1M: -0.80%
• YTD: 8.52%
• 6M: 13.42%
• 1Y: 20.08%
• 3Y*: 19.92%
• 5Y*: 17.54%
• 10Y*: —

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

SHRIX vs. QRPIX - Expense Ratio Comparison

SHRIX has a 1.76% expense ratio, which is higher than QRPIX's 1.40% expense ratio.

SHRIX

Stone Ridge High Yield Reinsurance Risk Premium Fund Class I

QRPIX

AQR Alternative Risk Premia Fund

Return for Risk

SHRIX vs. QRPIX — Risk / Return Rank

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

SHRIX

SHRIX Risk / Return Rank: 99
SHRIX Sharpe Ratio Rank: 100
SHRIX Sortino Ratio Rank: 99
SHRIX Omega Ratio Rank: 100
SHRIX Calmar Ratio Rank: 99
SHRIX Martin Ratio Rank: 100

QRPIX

QRPIX Risk / Return Rank: 82
QRPIX Sharpe Ratio Rank: 89
QRPIX Sortino Ratio Rank: 85
QRPIX Omega Ratio Rank: 87
QRPIX Calmar Ratio Rank: 79
QRPIX Martin Ratio Rank: 68

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.

SHRIX vs. QRPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Stone Ridge High Yield Reinsurance Risk Premium Fund Class I (SHRIX) and AQR Alternative Risk Premia Fund (QRPIX). 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.

	SHRIX	QRPIX	Difference
Sharpe ratio Return per unit of total volatility	5.22	1.82	+3.40
Sortino ratio Return per unit of downside risk	6.05	2.23	+3.82
Omega ratio Gain probability vs. loss probability	4.39	1.37	+3.03
Calmar ratio Return relative to maximum drawdown	6.72	1.88	+4.84
Martin ratio Return relative to average drawdown	70.15	6.37	+63.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHRIX vs. QRPIX - Sharpe Ratio Comparison

The current SHRIX Sharpe Ratio is 5.22, which is higher than the QRPIX Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of SHRIX and QRPIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SHRIX	QRPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.22	1.82	+3.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.44	1.50	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	0.74	+0.17

Correlation

The correlation between SHRIX and QRPIX is 0.05, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SHRIX vs. QRPIX - Dividend Comparison

SHRIX's dividend yield for the trailing twelve months is around 10.92%, more than QRPIX's 1.33% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SHRIX Stone Ridge High Yield Reinsurance Risk Premium Fund Class I	10.92%	10.92%	14.34%	12.34%	3.89%	4.61%	6.34%	5.06%	5.09%	0.35%
QRPIX AQR Alternative Risk Premia Fund	1.33%	1.45%	2.24%	4.52%	0.00%	4.08%	1.98%	0.85%	0.09%	0.00%

Drawdowns

SHRIX vs. QRPIX - Drawdown Comparison

The maximum SHRIX drawdown since its inception was -14.34%, smaller than the maximum QRPIX drawdown of -28.45%. Use the drawdown chart below to compare losses from any high point for SHRIX and QRPIX.

Drawdown Indicators

	SHRIX	QRPIX	Difference
Max Drawdown Largest peak-to-trough decline	-14.34%	-28.45%	+14.11%
Max Drawdown (1Y) Largest decline over 1 year	-1.87%	-11.07%	+9.20%
Max Drawdown (5Y) Largest decline over 5 years	-12.69%	-11.29%	-1.40%
Current Drawdown Current decline from peak	-1.87%	-0.93%	-0.94%
Average Drawdown Average peak-to-trough decline	-2.08%	-7.80%	+5.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.18%	3.26%	-3.08%

Volatility

SHRIX vs. QRPIX - Volatility Comparison

The current volatility for Stone Ridge High Yield Reinsurance Risk Premium Fund Class I (SHRIX) is 1.93%, while AQR Alternative Risk Premia Fund (QRPIX) has a volatility of 2.51%. This indicates that SHRIX experiences smaller price fluctuations and is considered to be less risky than QRPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHRIX	QRPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.93%	2.51%	-0.58%
Volatility (6M) Calculated over the trailing 6-month period	2.13%	6.47%	-4.34%
Volatility (1Y) Calculated over the trailing 1-year period	2.40%	11.44%	-9.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.26%	11.74%	-5.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.35%	10.36%	-4.01%