WRPIX vs. QHFIX

Last updated Aug 1, 2026

WRPIX (Allspring Alternative Risk Premia Fund) and QHFIX (AQR MS Fusion HV Fund Fund Class I) are both Multistrategy funds. Their 0.21 correlation means their historical movements had little consistent relationship. WRPIX charges 0.72%/yr vs 6.69%/yr for QHFIX.

Performance

WRPIX vs. QHFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Alternative Risk Premia Fund (WRPIX) 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, WRPIX achieves a 10.43% return, which is significantly higher than QHFIX's -2.37% return.

WRPIX

• 1D: -0.55%
• 1M: 3.33%
• 6M: 5.63%
• YTD: 10.43%
• 1Y: 20.12%
• 3Y*: 8.42%
• 5Y*: 7.29%
• 10Y*: —
• ALL TIME*: 2.85%

QHFIX

• 1D: 3.13%
• 1M: 3.40%
• 6M: -0.09%
• YTD: -2.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QHFIX AQR MS Fusion HV Fund Fund Class I	$0.00	$0.00	$0.00
WRPIX Allspring Alternative Risk Premia Fund	$0.00	$0.00	$0.00

WRPIX vs. QHFIX - Yearly Performance Comparison

	2026 (YTD)	2025
WRPIX Allspring Alternative Risk Premia Fund	10.43%	2.64%
QHFIX AQR MS Fusion HV Fund Fund Class I	-2.37%	4.97%

Correlation

The correlation between WRPIX and QHFIX is 0.21, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 6, 2025	0.21

Return for Risk

WRPIX vs. QHFIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WRPIX

WRPIX Risk / Return Rank: 96
WRPIX Sharpe Ratio Rank: 97
WRPIX Sortino Ratio Rank: 96
WRPIX Omega Ratio Rank: 94
WRPIX Calmar Ratio Rank: 97
WRPIX Martin Ratio Rank: 97

QHFIX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WRPIX vs. QHFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Alternative Risk Premia Fund (WRPIX) 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.

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.

	WRPIX	QHFIX	Difference
Sharpe ratio: Return per unit of total volatility	2.85	—	—
Sortino ratio: Return per unit of downside risk	4.11	—	—
Omega ratio: Gain probability vs. loss probability	1.56	—	—
Calmar ratio: Return relative to maximum drawdown	5.26	—	—
Martin ratio: Return relative to average drawdown	18.24	—	—

Drawdowns

WRPIX vs. QHFIX - Drawdown Comparison

The maximum WRPIX drawdown since its inception was -21.67%, which is greater than QHFIX's maximum drawdown of -13.85%. Use the drawdown chart below to compare losses from any high point for WRPIX and QHFIX.

Drawdown Indicators

	WRPIX	QHFIX	Difference
Max Drawdown Largest peak-to-trough decline	-21.67%	-13.85%	-7.82%
Max Drawdown (1Y) Largest decline over 1 year	-3.76%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-8.72%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-8.72%	—	—
Current Drawdown Current decline from peak	-1.10%	-6.10%	+5.00%
Average Drawdown Average peak-to-trough decline	-7.21%	-5.13%	-2.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	—	—

Volatility

Volatility by Period

	WRPIX	QHFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.20%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.25%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.94%	17.87%	-10.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.17%	17.87%	-10.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.08%	17.87%	-10.79%

WRPIX vs. QHFIX - Expense Ratio Comparison

WRPIX has a 0.72% expense ratio, which is lower than QHFIX's 6.69% expense ratio.

Dividends

WRPIX vs. QHFIX - Dividend Comparison

WRPIX's dividend yield for the trailing twelve months is around 6.49%, while QHFIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
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%
WRPIX Allspring Alternative Risk Premia Fund	6.49%	7.16%	3.25%	4.66%	15.23%	0.00%	0.00%	1.76%

Frequently Asked Questions

Can I hold both WRPIX and QHFIX in my portfolio?

WRPIX and QHFIX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.