AQR Trend Total Return Fund Class I (QNZIX)

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The chart shows the growth of an initial investment of $10,000 in AQR Trend Total Return 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.

AQR Trend Total Return Fund Class I (QNZIX) has returned 5.97% so far this year and 26.78% over the past 12 months.

Based on dividend-adjusted daily data since Mar 17, 2022, QNZIX's average daily return is +0.08%, while the average monthly return is +1.69%. At this rate, your investment would double in approximately 3.4 years.

Historically, 73% of months were positive and 27% were negative. The best month was Oct 2022 with a return of +9.2%, while the worst month was Jun 2022 at -8.4%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.

On a daily basis, QNZIX closed higher 55% of trading days. The best single day was Apr 9, 2025 with a return of +3.9%, while the worst single day was Apr 4, 2025 at -5.8%.

AQR Trend Total Return Fund Class I has an annualized alpha of 17.42%, beta of 0.42, and R² of 0.36 versus S&P 500 Index. Calculated based on daily prices since March 18, 2022.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (75.31%) than losses (14.21%) — typical of diversified or defensive assets.
• Beta of 0.42 may look defensive, but with R² of 0.36 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R² of 0.36 means the benchmark explains less than half of this fund's behavior — treat beta with caution or consider switching to a more representative benchmark.

QNZIX has a high expense ratio of 1.27%, indicating above-average management fees.

QNZIX ranks 91 for risk / return — in the top 91% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.

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

AQR Trend Total Return Fund Class I provided a 1.01% dividend yield over the last twelve months, with an annual payout of $0.17 per share.

The table displays the monthly dividend distributions for AQR Trend Total Return 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 Trend Total Return 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 Trend Total Return Fund Class I was 18.35%, occurring on Sep 30, 2022. Recovery took 91 trading sessions.

The current AQR Trend Total Return Fund Class I drawdown is 3.02%.

The chart below shows the rolling one-month volatility.