TNMIX vs. QRPNX

Last updated Apr 2, 2026

Compare and contrast key facts about 1290 Multi-Alternative Strategies Fund (TNMIX) and AQR Alternative Risk Premia Fund Class N (QRPNX).

TNMIX is managed by 1290 Funds. It was launched on Jul 5, 2015. QRPNX is an actively managed fund by AQR. It was launched on Sep 19, 2017.

Performance

TNMIX vs. QRPNX - Performance Comparison

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

TNMIX vs. QRPNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TNMIX 1290 Multi-Alternative Strategies Fund	5.36%	13.48%	9.21%	5.46%	-11.18%	3.24%	4.52%	8.62%	-4.36%
QRPNX AQR Alternative Risk Premia Fund Class N	9.02%	23.09%	18.64%	6.94%	24.83%	14.04%	-21.20%	-3.25%	-4.58%

Returns By Period

In the year-to-date period, TNMIX achieves a 5.36% return, which is significantly lower than QRPNX's 9.02% return.

TNMIX

• 1D: 1.20%
• 1M: -2.48%
• YTD: 5.36%
• 6M: 7.24%
• 1Y: 17.32%
• 3Y*: 10.87%
• 5Y*: 4.18%
• 10Y*: 3.99%

QRPNX

• 1D: 0.47%
• 1M: -0.13%
• YTD: 9.02%
• 6M: 14.05%
• 1Y: 19.10%
• 3Y*: 19.88%
• 5Y*: 17.45%
• 10Y*: —

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

TNMIX vs. QRPNX - Expense Ratio Comparison

TNMIX has a 0.85% expense ratio, which is lower than QRPNX's 5.29% expense ratio.

QRPNX

AQR Alternative Risk Premia Fund Class N

TNMIX

1290 Multi-Alternative Strategies Fund

Return for Risk

TNMIX vs. QRPNX — Risk / Return Rank

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

TNMIX

TNMIX Risk / Return Rank: 93
TNMIX Sharpe Ratio Rank: 91
TNMIX Sortino Ratio Rank: 91
TNMIX Omega Ratio Rank: 91
TNMIX Calmar Ratio Rank: 93
TNMIX Martin Ratio Rank: 96

QRPNX

QRPNX Risk / Return Rank: 79
QRPNX Sharpe Ratio Rank: 88
QRPNX Sortino Ratio Rank: 83
QRPNX Omega Ratio Rank: 86
QRPNX Calmar Ratio Rank: 76
QRPNX Martin Ratio Rank: 64

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. QRPNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 1290 Multi-Alternative Strategies Fund (TNMIX) and AQR Alternative Risk Premia Fund Class N (QRPNX). 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	QRPNX	Difference
Sharpe ratio Return per unit of total volatility	2.02	1.80	+0.22
Sortino ratio Return per unit of downside risk	2.76	2.22	+0.54
Omega ratio Gain probability vs. loss probability	1.44	1.36	+0.07
Calmar ratio Return relative to maximum drawdown	3.17	1.91	+1.26
Martin ratio Return relative to average drawdown	15.55	6.45	+9.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TNMIX vs. QRPNX - Sharpe Ratio Comparison

The current TNMIX Sharpe Ratio is 2.02, which is comparable to the QRPNX Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of TNMIX and QRPNX, 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

	TNMIX	QRPNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	1.80	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	1.50	-0.95
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.73	-0.14

Correlation

The correlation between TNMIX and QRPNX is -0.02. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

TNMIX vs. QRPNX - Dividend Comparison

TNMIX's dividend yield for the trailing twelve months is around 2.06%, more than QRPNX's 1.04% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
TNMIX 1290 Multi-Alternative Strategies Fund	2.06%	2.18%	1.57%	3.38%	2.86%	10.67%	0.78%	3.06%	1.24%	0.37%	0.62%
QRPNX AQR Alternative Risk Premia Fund Class N	1.04%	1.14%	2.04%	4.33%	0.00%	3.84%	1.98%	0.57%	0.07%	0.00%	0.00%

Drawdowns

TNMIX vs. QRPNX - Drawdown Comparison

The maximum TNMIX drawdown since its inception was -17.21%, smaller than the maximum QRPNX drawdown of -28.78%. Use the drawdown chart below to compare losses from any high point for TNMIX and QRPNX.

Drawdown Indicators

	TNMIX	QRPNX	Difference
Max Drawdown Largest peak-to-trough decline	-17.21%	-28.78%	+11.57%
Max Drawdown (1Y) Largest decline over 1 year	-5.63%	-10.79%	+5.16%
Max Drawdown (5Y) Largest decline over 5 years	-16.15%	-11.22%	-4.93%
Max Drawdown (10Y) Largest decline over 10 years	-17.21%	—	—
Current Drawdown Current decline from peak	-2.48%	-0.47%	-2.01%
Average Drawdown Average peak-to-trough decline	-3.84%	-8.01%	+4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.15%	3.26%	-2.11%

Volatility

TNMIX vs. QRPNX - Volatility Comparison

1290 Multi-Alternative Strategies Fund (TNMIX) has a higher volatility of 3.15% compared to AQR Alternative Risk Premia Fund Class N (QRPNX) at 2.56%. This indicates that TNMIX's price experiences larger fluctuations and is considered to be riskier than QRPNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TNMIX	QRPNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.15%	2.56%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	6.72%	6.48%	+0.24%
Volatility (1Y) Calculated over the trailing 1-year period	8.78%	11.41%	-2.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.66%	11.69%	-4.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.12%	10.33%	-3.21%