TMSRX vs. ADANX
Compare and contrast key facts about T. Rowe Price Multi-Strategy Total Return Fund (TMSRX) and AQR Diversified Arbitrage Fund Class N (ADANX).
TMSRX is managed by T. Rowe Price. It was launched on Feb 22, 2018. ADANX is an actively managed fund by AQR Funds. It was launched on Jan 15, 2009.
Performance
TMSRX vs. ADANX - Performance Comparison
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TMSRX vs. ADANX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TMSRX T. Rowe Price Multi-Strategy Total Return Fund | 0.41% | 2.95% | 5.36% | 5.09% | -4.69% | -2.08% | 13.21% | 7.59% | -4.11% |
ADANX AQR Diversified Arbitrage Fund Class N | 0.86% | 7.75% | 2.92% | 4.23% | -3.54% | 5.99% | 24.85% | 8.33% | 1.91% |
Returns By Period
In the year-to-date period, TMSRX achieves a 0.41% return, which is significantly lower than ADANX's 0.86% return.
TMSRX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.41%
- 6M
- 1.39%
- 1Y
- 3.04%
- 3Y*
- 4.31%
- 5Y*
- 1.14%
- 10Y*
- —
ADANX
- 1D
- 0.16%
- 1M
- 0.08%
- YTD
- 0.86%
- 6M
- 2.58%
- 1Y
- 6.13%
- 3Y*
- 4.95%
- 5Y*
- 2.37%
- 10Y*
- 6.49%
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TMSRX vs. ADANX - Expense Ratio Comparison
TMSRX has a 1.19% expense ratio, which is lower than ADANX's 2.12% expense ratio.
Return for Risk
TMSRX vs. ADANX — Risk / Return Rank
TMSRX
ADANX
TMSRX vs. ADANX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Multi-Strategy Total Return Fund (TMSRX) and AQR Diversified Arbitrage Fund Class N (ADANX). 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.
| TMSRX | ADANX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.41 | 4.02 | -2.62 |
Sortino ratioReturn per unit of downside risk | 1.85 | 6.60 | -4.75 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.97 | -0.60 |
Calmar ratioReturn relative to maximum drawdown | 1.50 | 9.66 | -8.15 |
Martin ratioReturn relative to average drawdown | 5.91 | 38.51 | -32.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TMSRX | ADANX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.41 | 4.02 | -2.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.89 | -0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.84 | 1.12 | -0.28 |
Correlation
The correlation between TMSRX and ADANX is 0.15, 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
TMSRX vs. ADANX - Dividend Comparison
TMSRX's dividend yield for the trailing twelve months is around 9.49%, more than ADANX's 1.84% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TMSRX T. Rowe Price Multi-Strategy Total Return Fund | 9.49% | 7.59% | 6.72% | 5.95% | 2.29% | 2.88% | 3.35% | 3.00% | 3.56% | 0.00% | 0.00% | 0.00% |
ADANX AQR Diversified Arbitrage Fund Class N | 1.84% | 1.86% | 0.96% | 2.47% | 0.10% | 0.40% | 1.33% | 1.81% | 6.22% | 6.84% | 6.83% | 4.43% |
Drawdowns
TMSRX vs. ADANX - Drawdown Comparison
The maximum TMSRX drawdown since its inception was -10.67%, smaller than the maximum ADANX drawdown of -14.73%. Use the drawdown chart below to compare losses from any high point for TMSRX and ADANX.
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Drawdown Indicators
| TMSRX | ADANX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.67% | -14.73% | +4.06% |
Max Drawdown (1Y)Largest decline over 1 year | -1.84% | -0.64% | -1.20% |
Max Drawdown (5Y)Largest decline over 5 years | -10.59% | -7.48% | -3.11% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.73% | — |
Current DrawdownCurrent decline from peak | -0.16% | -0.15% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -2.78% | -3.06% | +0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 0.16% | +0.34% |
Volatility
TMSRX vs. ADANX - Volatility Comparison
The current volatility for T. Rowe Price Multi-Strategy Total Return Fund (TMSRX) is 0.00%, while AQR Diversified Arbitrage Fund Class N (ADANX) has a volatility of 0.41%. This indicates that TMSRX experiences smaller price fluctuations and is considered to be less risky than ADANX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TMSRX | ADANX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 0.41% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 1.44% | 1.06% | +0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.09% | 1.53% | +0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.79% | 2.68% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.31% | 4.29% | -0.98% |