- 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
QMFIX Performance Chart
AQR MS Fusion Fund Class I (QMFIX) is up 11.3% since the beginning of the year. QMFIX is currently trading at $13 per share.
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Returns By Period
AQR MS Fusion Fund Class I
- 1D
- 1.35%
- 1M
- 8.22%
- YTD
- 11.33%
- 6M
- 13.53%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
QMFIX Monthly Returns History
Based on dividend-adjusted daily data since Nov 6, 2025, QMFIX's average daily return is +0.11%, while the average monthly return is +1.91%. At this rate, an investment would double in approximately 3.1 years.
Historically, 75% of months were positive and 25% were negative. The best month was Apr 2026 with a return of +9.4%, while the worst month was Mar 2026 at -6.7%. The longest winning streak lasted 3 consecutive months, and the longest losing streak was 2 months.
On a daily basis, QMFIX closed higher 57% of trading days. The best single day was Apr 8, 2026 with a return of +2.7%, while the worst single day was Jan 20, 2026 at -2.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.61% | -0.35% | -6.70% | 9.41% | 7.33% | 1.35% | 11.33% | ||||||
| 2025 | 1.44% | 2.16% | 3.63% |
Benchmark Metrics
AQR MS Fusion Fund Class I has an annualized alpha of 7.47%, beta of 0.96, and R2 of 0.78 versus S&P 500 Index. Calculated based on daily prices since November 07, 2025.
- This fund captured 114.12% of S&P 500 Index gains but only 81.68% of its losses - a favorable profile for investors.
- This fund generated an annualized alpha of 7.47% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- With beta of 0.96 and R2 of 0.78, 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
- 7.47%
- Beta
- 0.96
- R²
- 0.78
- Upside Capture
- 114.12%
- Downside Capture
- 81.68%
Expense Ratio
QMFIX has a high expense ratio of 3.55%, indicating above-average management fees.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for AQR MS Fusion Fund Class I (QMFIX) and compare them to S&P 500 Index.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
Dividends
Dividend History
AQR MS Fusion Fund Class I provided a 0.41% dividend yield over the last twelve months, with an annual payout of $0.05 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $0.05 | $0.05 |
Dividend yield | 0.41% | 0.46% |
Monthly Dividends
The table displays the monthly dividend distributions for AQR MS Fusion Fund Class I. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.05 | $0.05 |
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 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 Fund Class I was 10.27%, occurring on Mar 30, 2026. Recovery took 22 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 correction2026 | -10.27%Mar 2026 | 1mo 25d | 1mo 1d | 2mo 26dFeb 2026 - Apr 2026 |
2026 pullback2026 | -4.62%Jan 2026 | 12d | 13d | 25dJan 2026 - Feb 2026 |
2025 pullback2025 | -4.48%Nov 2025 | 7d | 20d | 27dNov 2025 - Dec 2025 |
2025 pullback2025 | -2.07%Dec 2025 | 5d | 5d | 10dDec 2025 - Dec 2025 |
2026 pullback2026 | -1.37%May 2026 | 4d | 7d | 11dMay 2026 - May 2026 |
Drawdown Indicators
| QMFIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.27% | -56.78% | +46.51% |
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 | 0.00% | -0.74% | +0.74% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -10.72% | +8.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.97% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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