AQR Style Premia Alternative I
- QSPIX
- Price as of: Feb 26, 2021
-
$7.00
N/A N/A
- Primary Theme
- Diversified Alternatives
- Fund Company
- AQR Funds
- Share Class
QSPIX - Snapshot
Vitals
- YTD Return 8.8%
- 3 Yr Annualized Return -13.3%
- 5 Yr Annualized Return -6.2%
- Net Assets $662 M
- Holdings in Top 10 N/A
52 WEEK LOW AND HIGH
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
- Standard (Taxable) $5,000,000
- IRA $100,000
Fund Classification
-
Primary Theme
Diversified Alternatives
- Fund Type Open End Mutual Fund
- Investment Style Multialternative
QSPIX - Profile
Distributions
- YTD Total Return 8.8%
- 3 Yr Annualized Total Return -13.3%
- 5 Yr Annualized Total Return -6.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.28%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annually
Fund Details
-
Legal NameAQR Style Premia Alternative Fund
-
Fund Family NameAQR Funds
-
Inception DateOct 30, 2013
-
Shares OutstandingN/A
-
Share ClassInst
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerAndrea Frazzini
QSPIX - Performance
Return Ranking - Trailing
Period | QSPIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.8% | -73.0% | 12.1% | 1.01% |
1 Yr | -16.4% | -20.8% | 30.2% | 97.25% |
3 Yr | -13.3%* | -13.5% | 13.4% | 99.62% |
5 Yr | -6.2%* | -6.4% | 13.5% | 99.57% |
10 Yr | N/A* | -0.5% | 6.5% | N/A |
* Annualized
Return Ranking - Calendar
Period | QSPIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2020 | -22.0% | -22.7% | 305.1% | 98.61% |
2019 | -9.6% | -9.8% | 27.3% | 99.62% |
2018 | -13.2% | -20.8% | 10.9% | 95.04% |
2017 | 4.7% | -12.4% | 29.4% | 26.89% |
2016 | -2.2% | -10.5% | 15.8% | 77.00% |
Total Return Ranking - Trailing
Period | QSPIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.8% | -73.0% | 12.1% | 1.01% |
1 Yr | -16.4% | -20.8% | 30.2% | 96.56% |
3 Yr | -13.3%* | -13.5% | 13.4% | 99.62% |
5 Yr | -6.2%* | -6.4% | 13.5% | 99.57% |
10 Yr | N/A* | -0.5% | 6.5% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | QSPIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2020 | -22.0% | -22.7% | 305.1% | 98.61% |
2019 | -9.6% | -9.8% | 27.3% | 99.62% |
2018 | -13.2% | -20.8% | 10.9% | 95.04% |
2017 | 4.7% | -8.4% | 29.4% | 49.53% |
2016 | -2.2% | -10.2% | 18.0% | 81.50% |
NAV & Total Return History
QSPIX - Holdings
Concentration Analysis
QSPIX | Category Low | Category High | QSPIX % Rank | |
---|---|---|---|---|
Net Assets | 662 M | 1.45 M | 5.17 B | 21.25% |
Number of Holdings | 2284 | 4 | 4377 | 4.73% |
Net Assets in Top 10 | 738 M | -107 M | 2.55 B | 9.46% |
Weighting of Top 10 | N/A | 9.9% | 100.0% | 1.32% |
Top 10 Holdings
- SGX 10 Year Mini Japanese Government Bond Future Dec 20 86.92%
- SGX 10 Year Mini Japanese Government Bond Future Dec 20 86.92%
- SGX 10 Year Mini Japanese Government Bond Future Dec 20 86.92%
- SGX 10 Year Mini Japanese Government Bond Future Dec 20 86.92%
- SGX 10 Year Mini Japanese Government Bond Future Dec 20 86.92%
- SGX 10 Year Mini Japanese Government Bond Future Dec 20 86.92%
- SGX 10 Year Mini Japanese Government Bond Future Dec 20 86.92%
- SGX 10 Year Mini Japanese Government Bond Future Dec 20 86.92%
- SGX 10 Year Mini Japanese Government Bond Future Dec 20 86.92%
- SGX 10 Year Mini Japanese Government Bond Future Dec 20 86.92%
Asset Allocation
Weighting | Return Low | Return High | QSPIX % Rank | |
---|---|---|---|---|
Cash | 227.98% | -14547.30% | 550.79% | 3.04% |
Other | 66.54% | -2.43% | 145.27% | 4.05% |
Stocks | 0.65% | -5.86% | 93.70% | 91.55% |
Preferred Stocks | 0.00% | -0.12% | 45.43% | 73.31% |
Convertible Bonds | 0.00% | 0.00% | 87.52% | 83.78% |
Bonds | -195.18% | -472.40% | 14620.47% | 97.30% |
Stock Sector Breakdown
Weighting | Return Low | Return High | QSPIX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 20.17% | 77.42% |
Technology | 0.00% | 0.00% | 100.00% | 62.10% |
Real Estate | 0.00% | 0.00% | 78.90% | 91.94% |
Industrials | 0.00% | 0.00% | 24.55% | 30.65% |
Healthcare | 0.00% | 0.00% | 52.99% | 33.06% |
Financial Services | 0.00% | 0.00% | 56.07% | 58.06% |
Energy | 0.00% | 0.00% | 100.00% | 99.19% |
Communication Services | 0.00% | 0.00% | 21.78% | 97.58% |
Consumer Defense | 0.00% | 0.00% | 16.49% | 92.74% |
Consumer Cyclical | 0.00% | 0.00% | 29.68% | 69.35% |
Basic Materials | 0.00% | 0.00% | 26.33% | 65.32% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | QSPIX % Rank | |
---|---|---|---|---|
US | 5.20% | -24.65% | 91.88% | 74.66% |
Non US | -4.55% | -24.99% | 39.61% | 97.97% |
Bond Sector Breakdown
Weighting | Return Low | Return High | QSPIX % Rank | |
---|---|---|---|---|
Government | 47.55% | 0.00% | 81.98% | 13.85% |
Cash & Equivalents | 33.88% | 0.27% | 100.00% | 54.05% |
Derivative | 18.55% | 0.00% | 91.28% | 20.61% |
Corporate | 0.02% | 0.00% | 93.88% | 73.65% |
Securitized | 0.00% | 0.00% | 89.57% | 82.09% |
Municipal | 0.00% | 0.00% | 26.35% | 71.62% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | QSPIX % Rank | |
---|---|---|---|---|
US | 96.11% | -136.03% | 6319.42% | 5.41% |
Non US | -291.29% | -574.50% | 8301.05% | 96.28% |
QSPIX - Expenses
Operational Fees
QSPIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.51% | 0.29% | 31.15% | 31.14% |
Management Fee | 1.35% | 0.00% | 2.50% | 78.93% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.30% | N/A |
Sales Fees
QSPIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
QSPIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 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% | 491.00% | 62.21% |
QSPIX - Distributions
Dividend Yield Analysis
QSPIX | Category Low | Category High | QSPIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 7.25% | 63.88% |
Dividend Distribution Analysis
QSPIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annually | Annually | Quarterly | Annually |
Net Income Ratio Analysis
QSPIX | Category Low | Category High | QSPIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.28% | -1.93% | 6.83% | 71.28% |
Capital Gain Distribution Analysis
QSPIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Dividend Payout History
Date | Amount |
---|---|
Dec 20, 2018 | $0.087 |
Dec 21, 2017 | $0.736 |
Dec 21, 2016 | $0.173 |
Dec 22, 2015 | $0.591 |
Dec 22, 2014 | $1.268 |
Dec 23, 2013 | $0.229 |
QSPIX - Fund Manager Analysis
Managers
Andrea Frazzini
Start Date
Tenure
Tenure Rank
Oct 30, 2013
7.26
7.3%
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
7.26
7.3%
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
7.26
7.3%
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
1.08
1.1%
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 |
---|---|---|---|
0.02 | 17.21 | 4.35 | 3.59 |