TNMIX vs. QSPNX
TNMIX (1290 Multi-Alternative Strategies Fund) and QSPNX (AQR Style Premia Alternative Fund Class N) are both Multistrategy funds. Over the past 10 years, TNMIX returned 3.99%/yr vs 7.08%/yr for QSPNX. At a correlation of -0.11, they often move in opposite directions. TNMIX charges 0.85%/yr vs 6.14%/yr for QSPNX.
Performance
TNMIX vs. QSPNX - Performance Comparison
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Returns By Period
In the year-to-date period, TNMIX achieves a 7.57% return, which is significantly lower than QSPNX's 11.84% return. Over the past 10 years, TNMIX has underperformed QSPNX with an annualized return of 3.99%, while QSPNX has yielded a comparatively higher 7.08% annualized return.
TNMIX
- 1D
- -0.71%
- 1M
- -2.69%
- YTD
- 7.57%
- 6M
- 6.55%
- 1Y
- 16.61%
- 3Y*
- 11.47%
- 5Y*
- 3.90%
- 10Y*
- 3.99%
QSPNX
- 1D
- -0.42%
- 1M
- 0.32%
- YTD
- 11.84%
- 6M
- 11.97%
- 1Y
- 17.30%
- 3Y*
- 18.14%
- 5Y*
- 19.42%
- 10Y*
- 7.08%
TNMIX vs. QSPNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TNMIX 1290 Multi-Alternative Strategies Fund | 7.57% | 13.48% | 9.21% | 5.46% | -11.18% | 3.24% | 4.52% | 8.62% | -3.99% | 3.91% |
QSPNX AQR Style Premia Alternative Fund Class N | 11.84% | 14.35% | 21.33% | 12.14% | 30.40% | 24.63% | -22.17% | -8.35% | -12.60% | 11.74% |
Correlation
The correlation between TNMIX and QSPNX is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | -0.11 |
The correlation between TNMIX and QSPNX shifts across timeframes, from -0.20 (5 years) to -0.10 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
TNMIX vs. QSPNX — Risk / Return Rank
TNMIX
QSPNX
TNMIX vs. QSPNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 1290 Multi-Alternative Strategies Fund (TNMIX) and AQR Style Premia Alternative Fund Class N (QSPNX). 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.
| TNMIX | QSPNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.31 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 4.52 | 3.44 | +1.08 |
| Martin ratioReturn relative to average drawdown | 15.02 | 9.28 | +5.74 |
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Drawdowns
TNMIX vs. QSPNX - Drawdown Comparison
The maximum TNMIX drawdown since its inception was -17.21%, smaller than the maximum QSPNX drawdown of -41.79%. Use the drawdown chart below to compare losses from any high point for TNMIX and QSPNX.
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Drawdown Indicators
| TNMIX | QSPNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.21% | -41.79% | +24.58% |
Max Drawdown (1Y)Largest decline over 1 year | -3.63% | -5.05% | +1.42% |
Max Drawdown (3Y)Largest decline over 3 years | -7.17% | -9.31% | +2.14% |
Max Drawdown (5Y)Largest decline over 5 years | -16.00% | -17.17% | +1.17% |
Max Drawdown (10Y)Largest decline over 10 years | -17.21% | -41.79% | +24.58% |
Current DrawdownCurrent decline from peak | -3.36% | -1.75% | -1.61% |
Average DrawdownAverage peak-to-trough decline | -3.78% | -9.56% | +5.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 1.87% | -0.78% |
Volatility
TNMIX vs. QSPNX - Volatility Comparison
The current volatility for 1290 Multi-Alternative Strategies Fund (TNMIX) is 2.70%, while AQR Style Premia Alternative Fund Class N (QSPNX) has a volatility of 3.70%. This indicates that TNMIX experiences smaller price fluctuations and is considered to be less risky than QSPNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TNMIX | QSPNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.70% | 3.70% | -1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 6.63% | 7.26% | -0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.84% | 9.83% | -1.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.71% | 15.86% | -8.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.16% | 12.84% | -5.68% |
TNMIX vs. QSPNX - Expense Ratio Comparison
TNMIX has a 0.85% expense ratio, which is lower than QSPNX's 6.14% expense ratio.
Dividends
TNMIX vs. QSPNX - Dividend Comparison
TNMIX's dividend yield for the trailing twelve months is around 2.02%, less than QSPNX's 2.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QSPNX AQR Style Premia Alternative Fund Class N | 2.14% | 2.39% | 6.80% | 23.73% | 22.62% | 12.61% | 0.00% | 1.63% | 0.51% | 6.81% | 1.75% | 5.68% |
TNMIX 1290 Multi-Alternative Strategies Fund | 2.02% | 2.18% | 1.57% | 3.38% | 2.86% | 10.67% | 0.78% | 3.06% | 1.24% | 0.37% | 0.62% | 0.00% |
Frequently Asked Questions
TNMIX and QSPNX have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QSPNX has higher volatility (3.70%) compared to TNMIX (2.70%). In terms of maximum drawdown, TNMIX dropped -17.21% vs QSPNX's -41.79%.
TNMIX currently has the higher Sharpe Ratio (2.10 vs 1.77), 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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