AQR MS Fusion Fund Class I (QMFIX)

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The chart shows the growth of an initial investment of $10,000 in AQR MS Fusion Fund Class I, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Based on dividend-adjusted daily data since Nov 6, 2025, QMFIX's average daily return is -0.06%, while the average monthly return is -1.00%.

Historically, 60% of months were positive and 40% were negative. The best month was Dec 2025 with a return of +2.2%, while the worst month was Mar 2026 at -8.9%. The longest winning streak lasted 3 consecutive months, and the longest losing streak was 2 months.

On a daily basis, QMFIX closed higher 49% of trading days. The best single day was Dec 19, 2025 with a return of +2.1%, while the worst single day was Jan 20, 2026 at -2.5%.

AQR MS Fusion Fund Class I has an annualized alpha of 5.38%, beta of 1.03, and R² of 0.84 versus S&P 500 Index. Calculated based on daily prices since November 07, 2025.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (88.78%) than losses (83.22%) — typical of diversified or defensive assets.
• This fund generated an annualized alpha of 5.38% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
• With beta of 1.03 and R² of 0.84, this fund moves broadly in line with S&P 500 Index — much of its variation is explained by market exposure rather than independent behavior.

QMFIX has a high expense ratio of 3.55%, indicating above-average management fees.

The table below present risk-adjusted performance metrics for AQR MS Fusion Fund Class I (QMFIX) and compare them to a chosen benchmark (S&P 500 Index).

AQR MS Fusion Fund Class I provided a 0.50% dividend yield over the last twelve months, with an annual payout of $0.05 per share.

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.

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.

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. The portfolio has not yet recovered.

The current AQR MS Fusion Fund Class I drawdown is 10.27%.

The chart below shows the rolling one-month volatility.