TNMIX vs. QHFIX

Last updated Jun 4, 2026

TNMIX (1290 Multi-Alternative Strategies Fund) and QHFIX (AQR MS Fusion HV Fund Fund Class I) are both Multistrategy funds. At a 0.36 correlation, their price movements are largely independent. TNMIX charges 0.85%/yr vs 6.69%/yr for QHFIX.

Performance

TNMIX vs. QHFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 1290 Multi-Alternative Strategies Fund (TNMIX) and AQR MS Fusion HV Fund Fund Class I (QHFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TNMIX achieves a 10.73% return, which is significantly higher than QHFIX's 3.72% return.

TNMIX

• 1D: 0.35%
• 1M: 0.87%
• YTD: 10.73%
• 6M: 11.11%
• 1Y: 21.14%
• 3Y*: 12.68%
• 5Y*: 4.67%
• 10Y*: 4.29%

QHFIX

• 1D: -0.24%
• 1M: 9.36%
• YTD: 3.72%
• 6M: 7.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TNMIX vs. QHFIX - Yearly Performance Comparison

	2026 (YTD)	2025
TNMIX 1290 Multi-Alternative Strategies Fund	10.73%	1.59%
QHFIX AQR MS Fusion HV Fund Fund Class I	3.72%	4.97%

Correlation

The correlation between TNMIX and QHFIX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 7, 2025	0.36

Return for Risk

TNMIX vs. QHFIX — Risk / Return Rank

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

TNMIX

TNMIX Risk / Return Rank: 89
TNMIX Sharpe Ratio Rank: 88
TNMIX Sortino Ratio Rank: 80
TNMIX Omega Ratio Rank: 87
TNMIX Calmar Ratio Rank: 95
TNMIX Martin Ratio Rank: 95

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.

TNMIX vs. QHFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 1290 Multi-Alternative Strategies Fund (TNMIX) and AQR MS Fusion HV Fund Fund Class I (QHFIX). 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.

	TNMIX	QHFIX	Difference
Sharpe ratio: Return per unit of total volatility	2.88	—	—
Sortino ratio: Return per unit of downside risk	3.82	—	—
Omega ratio: Gain probability vs. loss probability	1.61	—	—
Calmar ratio: Return relative to maximum drawdown	5.84	—	—
Martin ratio: Return relative to average drawdown	22.10	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TNMIX	QHFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.88	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	1.00	-0.35

Drawdowns

TNMIX vs. QHFIX - Drawdown Comparison

The maximum TNMIX drawdown since its inception was -17.21%, which is greater than QHFIX's maximum drawdown of -13.85%. Use the drawdown chart below to compare losses from any high point for TNMIX and QHFIX.

Drawdown Indicators

	TNMIX	QHFIX	Difference
Max Drawdown Largest peak-to-trough decline	-17.21%	-13.85%	-3.36%
Max Drawdown (1Y) Largest decline over 1 year	-3.63%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-7.17%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.15%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-17.21%	—	—
Current Drawdown Current decline from peak	-0.52%	-0.24%	-0.28%
Average Drawdown Average peak-to-trough decline	-3.79%	-5.04%	+1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	—	—

Volatility

Volatility by Period

	TNMIX	QHFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.63%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.16%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.39%	16.42%	-9.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.65%	16.42%	-8.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.12%	16.42%	-9.30%

TNMIX vs. QHFIX - Expense Ratio Comparison

TNMIX has a 0.85% expense ratio, which is lower than QHFIX's 6.69% expense ratio.

Dividends

TNMIX vs. QHFIX - Dividend Comparison

TNMIX's dividend yield for the trailing twelve months is around 1.96%, while QHFIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
QHFIX AQR MS Fusion HV Fund Fund Class I	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TNMIX 1290 Multi-Alternative Strategies Fund	1.96%	2.18%	1.57%	3.38%	2.86%	10.67%	0.78%	3.06%	1.24%	0.37%	0.62%

Frequently Asked Questions

Can I hold both TNMIX and QHFIX in my portfolio?

TNMIX and QHFIX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.