QRPIX Fees and Costs — AQR Alternative Risk Premia Fund, Class I
Data updated: 2026-08-27
The net expense ratio is 5.05% (5.06% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $470K in broker commissions, 0.1516% of average net assets, and portfolio turnover was 199%.
QRPIX Fees and Expenses
Annual operating expenses and sales charges of QRPIX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.20% |
| 12b-1 fee | — |
| Other expenses | 3.83% |
| Gross expense ratio | 5.06% |
| Fee waiver | −0.01% |
| Net expense ratio | 5.05% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
QRPIX Costs Over Time
On $10,000 invested in QRPIX, assuming 5% a year before costs, total costs come to $2,992 over 5 years, cutting the return by 5.46% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 5.05%) | $530 | $1,583 | $2,627 |
| Trading costs (broker commissions) | $16 | $48 | $79 |
| Lost growth on money paid in costs | $0 | $83 | $286 |
| Total costs | $546 | $1,714 | $2,992 |
| Value after costs | $9,954 | $9,862 | $9,771 |
| Impact on return, per year | 5.46% | 5.46% | 5.46% |
QRPIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1516%
- Total broker commissions: $470K
- Bought from dealers (principal trades, not a cost): $1.7B
- Portfolio turnover (prospectus): 199%
- Securities on loan, average value: $38.7M
- Net income from securities lending: $7K (0.002% of average net assets)
QRPIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $153K | 32.79% |
| J.P. Morgan Securities LLC | $147K | 31.51% |
| Barclays Capital, Inc. | $68K | 14.55% |
| Morgan Stanley & Co. LLC | $35K | 7.41% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $30K | 6.41% |
| BofA Securities, Inc. | $10K | 2.11% |
| Instinet, LLC | $9K | 2.03% |
| UBS Securities LLC | $7K | 1.44% |
| BNP Paribas Securities Corp. | $7K | 1.44% |
| Citigroup Global Markets Inc. | $1K | 0.31% |
QRPIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $1.6B | 95.57% |
| Deutsche Bank Securities Inc. | $44.4M | 2.66% |
| Morgan Stanley & Co. LLC | $7.6M | 0.45% |
| Nomura Securities International, Inc. | $5.6M | 0.34% |
| BofA Securities, Inc. | $5.2M | 0.31% |
| HSBC Securities (USA) Inc. | $4.9M | 0.29% |
| Citigroup Global Markets Inc. | $2.2M | 0.13% |
| Goldman Sachs & Co. LLC | $1.9M | 0.11% |
| Bank of Montreal | $1.3M | 0.08% |
| Natwest Markets Securities Inc. | $1.1M | 0.06% |
AQR Alternative Risk Premia Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| QRPRX | Class R6 | 4.91% | — |
| QRPIX | Class I | 5.05% | — |
| QRPNX | Class N | 5.31% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.