WRPIX vs. QMFIX

Last updated Jun 4, 2026

WRPIX (Allspring Alternative Risk Premia Fund) and QMFIX (AQR MS Fusion Fund Class I) are both Multistrategy funds. At a 0.14 correlation, their price movements are largely independent. WRPIX charges 0.72%/yr vs 3.55%/yr for QMFIX.

Performance

WRPIX vs. QMFIX - 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 Fund Class I (QMFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WRPIX achieves a 10.67% return, which is significantly lower than QMFIX's 11.51% return.

WRPIX

• 1D: -0.11%
• 1M: 1.69%
• YTD: 10.67%
• 6M: 11.63%
• 1Y: 20.54%
• 3Y*: 8.24%
• 5Y*: 7.21%
• 10Y*: —

QMFIX

• 1D: 0.16%
• 1M: 8.39%
• YTD: 11.51%
• 6M: 13.71%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WRPIX vs. QMFIX - Yearly Performance Comparison

	2026 (YTD)	2025
WRPIX Allspring Alternative Risk Premia Fund	10.67%	2.52%
QMFIX AQR MS Fusion Fund Class I	11.51%	3.63%

Correlation

The correlation between WRPIX and QMFIX is 0.14, 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	0.14

Return for Risk

WRPIX vs. QMFIX — Risk / Return Rank

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

WRPIX

WRPIX Risk / Return Rank: 93
WRPIX Sharpe Ratio Rank: 91
WRPIX Sortino Ratio Rank: 90
WRPIX Omega Ratio Rank: 88
WRPIX Calmar Ratio Rank: 97
WRPIX Martin Ratio Rank: 97

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.

WRPIX vs. QMFIX - 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 Fund Class I (QMFIX). 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.

	WRPIX	QMFIX	Difference
Sharpe ratio: Return per unit of total volatility	3.06	—	—
Sortino ratio: Return per unit of downside risk	4.41	—	—
Omega ratio: Gain probability vs. loss probability	1.61	—	—
Calmar ratio: Return relative to maximum drawdown	7.28	—	—
Martin ratio: Return relative to average drawdown	25.51	—	—
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

	WRPIX	QMFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.06	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.02	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	2.17	-1.75

Drawdowns

WRPIX vs. QMFIX - Drawdown Comparison

The maximum WRPIX drawdown since its inception was -21.67%, which is greater than QMFIX's maximum drawdown of -10.27%. Use the drawdown chart below to compare losses from any high point for WRPIX and QMFIX.

Drawdown Indicators

	WRPIX	QMFIX	Difference
Max Drawdown Largest peak-to-trough decline	-21.67%	-10.27%	-11.40%
Max Drawdown (1Y) Largest decline over 1 year	-2.79%	—	—
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	-0.11%	0.00%	-0.11%
Average Drawdown Average peak-to-trough decline	-7.33%	-2.25%	-5.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.80%	—	—

Volatility

Volatility by Period

	WRPIX	QMFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.39%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.65%	14.32%	-7.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.13%	14.32%	-7.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.08%	14.32%	-7.24%

WRPIX vs. QMFIX - Expense Ratio Comparison

WRPIX has a 0.72% expense ratio, which is lower than QMFIX's 3.55% expense ratio.

Dividends

WRPIX vs. QMFIX - Dividend Comparison

WRPIX's dividend yield for the trailing twelve months is around 6.47%, more than QMFIX's 0.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
QMFIX AQR MS Fusion Fund Class I	0.41%	0.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WRPIX Allspring Alternative Risk Premia Fund	6.47%	7.16%	3.25%	4.66%	15.23%	0.00%	0.00%	1.76%

Frequently Asked Questions

Can I hold both WRPIX and QMFIX in my portfolio?

WRPIX and QMFIX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.