QSPIX: AQR Style Premia Alternative I

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QSPIX AQR Style Premia Alternative I


Profile

QSPIX - Profile

Vitals

  • YTD Return -15.7%
  • 3 Yr Annualized Return -11.6%
  • 5 Yr Annualized Return -6.9%
  • Net Assets $1.33 B
  • Holdings in Top 10 N/A

52 WEEK LOW AND HIGH

$6.87
$6.77
$8.78

Expenses

OPERATING RELATED FEES

  • Expense Ratio 2.51%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 170.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

Closed to new investors as of Jan 29, 2016
  • Standard (Taxable) $5,000,000
  • IRA $100,000

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Multialternative

Distributions

  • YTD Total Return -15.7%
  • 3 Yr Annualized Total Return -11.6%
  • 5 Yr Annualized Total Return -6.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.28%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    AQR Style Premia Alternative Fund
  • Fund Family Name
    AQR Funds
  • Inception Date
    Oct 30, 2013
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Andrea Frazzini

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Categories

QSPIX - Mutual Fund Categories


Performance

QSPIX - Performance

Return Ranking - Trailing

Period QSPIX Return Category Return Low Category Return High Rank in Category (%)
YTD -15.7% -40.5% 17.3% 71.79%
1 Yr -22.2% -56.1% 11.5% 84.42%
3 Yr -11.6%* -22.5% 5.4% 85.25%
5 Yr -6.9%* -24.1% 5.7% 73.08%
10 Yr N/A* -14.5% 9.5% N/A

* Annualized

Return Ranking - Calendar

Period QSPIX Return Category Return Low Category Return High Rank in Category (%)
2019 -9.6% -39.6% 40.4% 76.62%
2018 -13.2% -32.1% 18.9% 77.61%
2017 4.7% -24.8% 48.2% 23.33%
2016 -2.2% -51.7% 12.8% 34.48%
2015 2.8% -24.6% 18.1% 13.21%

Total Return Ranking - Trailing

Period QSPIX Return Category Return Low Category Return High Rank in Category (%)
YTD -15.7% -40.5% 17.3% 71.79%
1 Yr -22.2% -56.1% 11.5% 84.42%
3 Yr -11.6%* -22.5% 5.4% 85.25%
5 Yr -6.9%* -24.1% 5.7% 73.08%
10 Yr N/A* -14.5% 9.5% N/A

* Annualized

Total Return Ranking - Calendar

Period QSPIX Return Category Return Low Category Return High Rank in Category (%)
2019 -9.6% -39.6% 40.4% 76.62%
2018 -13.2% -32.1% 18.9% 77.61%
2017 4.7% -19.4% 48.2% 23.33%
2016 -2.2% -51.7% 12.8% 48.28%
2015 2.8% -24.6% 18.1% 18.87%

NAV & Total Return History


Holdings

QSPIX - Holdings

Concentration Analysis

QSPIX Category Low Category High QSPIX % Rank
Net Assets 1.33 B 923 K 2 B 6.19%
Number of Holdings 1748 3 2747 8.82%
Net Assets in Top 10 1.94 B -190 M 1.94 B 4.41%
Weighting of Top 10 N/A 0.0% 96.5% 1.32%

Top 10 Holdings

Asset Allocation

Weighting Return Low Return High QSPIX % Rank
Cash
34.73% 5.65% 289.18% 88.24%
Bonds
28.88% -125.69% 55.11% 17.57%
Other
22.27% -189.18% 94.35% 16.18%
Stocks
14.12% -6.75% 93.79% 39.19%
Preferred Stocks
0.00% 0.00% 9.22% 94.12%
Convertible Bonds
0.00% 0.00% 39.19% 97.06%

Stock Sector Breakdown

Weighting Return Low Return High QSPIX % Rank
Utilities
0.00% -0.17% 9.60% 77.42%
Technology
0.00% -1.27% 27.56% 62.10%
Real Estate
0.00% -0.14% 8.97% 91.94%
Industrials
0.00% -0.55% 31.57% 30.65%
Healthcare
0.00% -0.73% 24.51% 33.06%
Financial Services
0.00% -0.86% 55.51% 58.06%
Energy
0.00% -0.28% 9.52% 99.19%
Communication Services
0.00% -0.18% 17.31% 97.58%
Consumer Defense
0.00% -0.41% 19.22% 92.74%
Consumer Cyclical
0.00% -6.55% 19.59% 69.35%
Basic Materials
0.00% -0.13% 13.82% 65.32%

Stock Geographic Breakdown

Weighting Return Low Return High QSPIX % Rank
US
9.37% -14.00% 67.85% 17.65%
Non US
4.75% -9.77% 79.73% 44.12%

Bond Sector Breakdown

Weighting Return Low Return High QSPIX % Rank
Derivative
52.24% 0.00% 80.59% 5.88%
Government
40.27% 0.00% 45.58% 10.29%
Cash & Equivalents
7.49% 5.65% 106.75% 98.53%
Securitized
0.00% 0.00% 11.33% 92.65%
Corporate
0.00% 0.00% 31.16% 97.06%
Municipal
0.00% 0.00% 2.75% 91.18%

Bond Geographic Breakdown

Weighting Return Low Return High QSPIX % Rank
US
166.72% -43.48% 166.72% 4.41%
Non US
-137.84% -137.84% 47.37% 100.00%

Expenses

QSPIX - Expenses

Operational Fees

QSPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.51% 0.76% 24.55% 46.75%
Management Fee 1.35% 0.00% 1.75% 96.91%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.04% 0.30% N/A

Sales Fees

QSPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.75% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

QSPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

QSPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 170.00% 0.00% 326.00% 76.36%

Distributions

QSPIX - Distributions

Dividend Yield Analysis

QSPIX Category Low Category High QSPIX % Rank
Dividend Yield 0.00% 0.00% 1.66% 86.60%

Dividend Distribution Analysis

QSPIX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Semi-Annually Annually

Net Income Ratio Analysis

QSPIX Category Low Category High QSPIX % Rank
Net Income Ratio 0.28% -1.60% 3.37% 74.03%

Capital Gain Distribution Analysis

QSPIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

QSPIX - Fund Manager Analysis

Managers

Andrea Frazzini


Start Date

Tenure

Tenure Rank

Oct 30, 2013

6.5

6.5%

Andrea is a Principal on AQR’s Global Stock Selection team, focusing on research and portfolio management of the Firm’s Long/Short and Long-Only equity strategies. He is also an Adjunct Professor of Finance at New York University’s Stern School of Business. He has published in top academic journals and won several awards for his research, including the Smith Breeden Award, the Fama-DFA award, the BGI best paper award, several Bernstein Fabozzi/Jacobs Levy Awards, and the PanAgora Crowell Memorial Prize. Prior to AQR in 2008, Andrea was an associate professor of finance at the University of Chicago’s Graduate School of Business and a Research Associate at the National Bureau of Economic Research. He also served as a consultant for DKR Capital Partners and J.P. Morgan Securities and on the board of directors of the Center for Research in Security Prices at the University of Chicago. He earned a B.S. in economics from the University of Roma Tre, an M.S. in economics from the London School of Economics and a Ph.D. in economics from Yale University.

Michael Katz


Start Date

Tenure

Tenure Rank

Oct 30, 2013

6.5

6.5%

Michael Katz, Ph.D., A.M., is a Principal of the Adviser. Dr. Katz joined the Adviser in 2007 and is Head of the Portfolio Implementation and Implementation Research team where he oversees the implementation of the Adviser’s products and models and enhancement of the implementation process. He earned a B.A. in economics and a B.A. in Middle East history, both with honors, at Tel Aviv University, and a M.A. and a Ph.D., both in economics, from Harvard University.

Ronen Israel


Start Date

Tenure

Tenure Rank

Oct 30, 2013

6.5

6.5%

Ronen Israel, M.A., is a Principal of AQR Capital Management. Mr. Israel joined AQR Capital Management in 1999, is the Co-Head of Portfolio Management, Research, Risk and Trading and is a member of the firm’s Executive Committee. Prior to joining AQR, Ronen was a Senior Analyst at Quantitative Financial Strategies, Inc., a quantitative investment management firm, specializing in currencies and global macro strategies, with $2.5 billion under management. Before that, he worked as a management consultant, specializing in building out financial systems for financial services firms. Ronen received an MA in Mathematics, specializing in mathematical finance, from Columbia University, a BS in Economics from The Wharton School at the University of Pennsylvania and a BAS in Biomedical Science from the School of Engineering and Applied Science at the University of Pennsylvania.

Yao Ooi


Start Date

Tenure

Tenure Rank

Jan 01, 2020

0.33

0.3%

Yao Hua Ooi is a Principal at AQR Capital Management, where he is the Head of our Macro and Multi-Strategy team. In this role, he leads the Research and Portfolio Management teams focused on AQR’s macro and multi-strategy funds, including the firm’s Managed Futures, Risk Parity, Alternative Risk Premia, Multi-Strategy, Multi-Asset and Global Macro products. His research has been published in the Journal of Financial Economics, the Journal of Portfolio Management, the Financial Analysts Journal and the Journal of Investment Management. He was named the 2013 Alternatives Fund Manager of the Year by Morningstar for his work on managed futures, and shared the 2013 Whitebox Prize for his work on time series momentum. Yao Hua earned a B.S. in economics and a B.S. in engineering from the Jerome Fisher Program in Management and Technology at the University of Pennsylvania, graduating summa cum laude.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 19.99 3.05 0.04