SPE vs. QSPRX
SPE (Special Opportunities Fund Inc.) and QSPRX (AQR Style Premia Alternative R6) are both Multistrategy funds. Over the past 10 years, SPE returned 10.98%/yr vs 7.87%/yr for QSPRX. Their -0.07 correlation means they have often moved in opposite directions in the past. SPE charges 1.11%/yr vs 5.79%/yr for QSPRX.
Performance
SPE vs. QSPRX - Performance Comparison
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Returns By Period
In the year-to-date period, SPE achieves a -3.76% return, which is significantly lower than QSPRX's 17.68% return. Over the past 10 years, SPE has outperformed QSPRX with an annualized return of 10.98%, while QSPRX has yielded a comparatively lower 7.87% annualized return.
SPE
- 1D
- 0.08%
- 1M
- -2.03%
- 6M
- -5.61%
- YTD
- -3.76%
- 1Y
- 1.19%
- 3Y*
- 16.61%
- 5Y*
- 8.36%
- 10Y*
- 10.98%
- ALL TIME*
- 9.02%
QSPRX
- 1D
- 0.49%
- 1M
- 6.55%
- 6M
- 14.53%
- YTD
- 17.68%
- 1Y
- 22.36%
- 3Y*
- 20.82%
- 5Y*
- 20.25%
- 10Y*
- 7.87%
- ALL TIME*
- 7.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $510.01K | $480.11K | $478.95K |
SPE vs. QSPRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPE Special Opportunities Fund Inc. | -3.76% | 14.68% | 34.41% | 14.12% | -18.39% | 23.60% | 4.86% | 32.95% | -9.17% | 28.66% |
QSPRX AQR Style Premia Alternative R6 | 17.68% | 14.94% | 21.60% | 12.50% | 30.90% | 25.14% | -21.91% | -8.10% | -12.32% | 12.18% |
Correlation
The correlation between SPE and QSPRX is -0.14, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.14 |
Correlation (3Y) Balances recent behavior with more history. | -0.08 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.10 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.06 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | -0.07 |
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Return for Risk
SPE vs. QSPRX — Risk / Return Rank
SPE
QSPRX
SPE vs. QSPRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Special Opportunities Fund Inc. (SPE) and AQR Style Premia Alternative R6 (QSPRX). 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.
| SPE | QSPRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.35 | ||
| Sortino ratioReturn per unit of downside risk | -3.40 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.40 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | 4.39 | -4.43 |
| Martin ratioReturn relative to average drawdown | -0.11 | 11.98 | -12.09 |
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Drawdowns
SPE vs. QSPRX - Drawdown Comparison
The maximum SPE drawdown since its inception was -46.90%, which is greater than QSPRX's maximum drawdown of -41.22%. Use the drawdown chart below to compare losses from any high point for SPE and QSPRX.
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Drawdown Indicators
| SPE | QSPRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.90% | -41.22% | -5.68% |
Max Drawdown (1Y)Largest decline over 1 year | -9.33% | -5.06% | -4.27% |
Max Drawdown (3Y)Largest decline over 3 years | -13.69% | -9.25% | -4.44% |
Max Drawdown (5Y)Largest decline over 5 years | -24.18% | -17.17% | -7.01% |
Max Drawdown (10Y)Largest decline over 10 years | -46.90% | -41.22% | -5.68% |
Current DrawdownCurrent decline from peak | -6.99% | 0.00% | -6.99% |
Average DrawdownAverage peak-to-trough decline | -4.70% | -9.95% | +5.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.60% | 1.85% | +1.75% |
Volatility
SPE vs. QSPRX - Volatility Comparison
Special Opportunities Fund Inc. (SPE) has a higher volatility of 2.80% compared to AQR Style Premia Alternative R6 (QSPRX) at 2.23%. This indicates that SPE's price experiences larger fluctuations and is considered to be riskier than QSPRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPE | QSPRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.80% | 2.23% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 8.59% | 7.12% | +1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.28% | 9.63% | +1.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.62% | 15.89% | -2.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.35% | 12.89% | +4.46% |
SPE vs. QSPRX - Expense Ratio Comparison
SPE has a 1.11% expense ratio, which is lower than QSPRX's 5.79% expense ratio.
Dividends
SPE vs. QSPRX - Dividend Comparison
SPE's dividend yield for the trailing twelve months is around 17.45%, more than QSPRX's 2.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QSPRX AQR Style Premia Alternative R6 | 2.24% | 2.63% | 6.99% | 23.75% | 22.67% | 12.85% | 0.00% | 1.62% | 1.09% | 7.15% | 1.74% | 5.87% |
SPE Special Opportunities Fund Inc. | 17.45% | 13.73% | 7.83% | 8.77% | 11.58% | 11.64% | 8.01% | 6.35% | 14.10% | 16.53% | 5.93% | 9.02% |
Frequently Asked Questions
SPE and QSPRX have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPE has higher volatility (2.80%) compared to QSPRX (2.23%). In terms of maximum drawdown, SPE dropped -46.90% vs QSPRX's -41.22%.
QSPRX currently has the higher Sharpe Ratio (2.31 vs -0.03), 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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