- Issuer
- AQR
- Inception Date
- Jun 25, 2025
- Category
- Multistrategy
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
Share Price Chart
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Performance
QHFIX Performance Chart
AQR MS Fusion HV Fund Fund Class I (QHFIX) is up 0.8% since the beginning of the year. QHFIX is currently trading at $12 per share.
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Returns By Period
AQR MS Fusion HV Fund Fund Class I
- 1D
- 0.51%
- 1M
- 1.79%
- YTD
- 0.76%
- 6M
- 0.17%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
QHFIX Monthly Returns History
Based on dividend-adjusted daily data since Nov 6, 2025, QHFIX's average daily return is +0.04%, while the average monthly return is +0.81%. At this rate, an investment would double in approximately 7.2 years.
Historically, 50% of months were positive and 50% were negative. The best month was May 2026 with a return of +7.4%, while the worst month was Mar 2026 at -7.7%. The longest winning streak lasted 2 consecutive months, and the longest losing streak was 3 months.
On a daily basis, QHFIX closed higher 54% of trading days. The best single day was Jun 1, 2026 with a return of +2.6%, while the worst single day was Jun 5, 2026 at -3.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -2.28% | -0.87% | -7.68% | 5.48% | 7.44% | -0.58% | 0.76% | ||||||
| 2025 | 0.35% | 4.60% | 4.97% |
Benchmark Metrics
AQR MS Fusion HV Fund Fund Class I has an annualized alpha of -4.67%, beta of 0.90, and R2 of 0.53 versus S&P 500 Index. Calculated based on daily prices since November 06, 2025.
- This fund participated in 70.98% of S&P 500 Index downside but only 55.73% of its upside - more exposed to losses than it benefited from rallies.
- This fund had an annualized alpha of -4.67% versus S&P 500 Index - delivering less than market exposure alone would predict.
- With beta of 0.90 and R2 of 0.53, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -4.67%
- Beta
- 0.90
- R²
- 0.53
- Upside Capture
- 55.73%
- Downside Capture
- 70.98%
Expense Ratio
QHFIX has a high expense ratio of 6.69%, indicating above-average management fees.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for AQR MS Fusion HV Fund Fund Class I (QHFIX) and compare them to S&P 500 Index.
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.
| QHFIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.37 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.78 | — |
| Martin ratioReturn relative to average drawdown | — | 12.44 | — |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the AQR MS Fusion HV Fund Fund Class I. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the AQR MS Fusion HV Fund Fund Class I was 13.85%, occurring on Mar 27, 2026. Recovery took 44 trading sessions.
The current AQR MS Fusion HV Fund Fund Class I drawdown is 3.09%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 correction2026 | -13.85%Mar 2026 | 2mo 18d | 2mo 6d | 4mo 24dJan 2026 - Jun 2026 |
2026 pullback2026 | -6.50%Jun 2026 | 8d | — | 21d 14hJun 2026 - now |
2025 pullback2025 | -5.10%Nov 2025 | 8d | 19d | 27dNov 2025 - Dec 2025 |
2026 pullback2026 | -1.17%Jan 2026 | 4d | 4d | 8dDec 2025 - Jan 2026 |
2025 pullback2025 | -1.11%Dec 2025 | 5d | 2d | 7dDec 2025 - Dec 2025 |
Drawdown Indicators
| QHFIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.85% | -56.78% | +42.93% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -3.09% | -1.80% | -1.29% |
Average DrawdownAverage peak-to-trough decline | -4.88% | -10.71% | +5.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.03% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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