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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in AQR Trend Total Return Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
AQR Trend Total Return Fund (QNZNX) has returned 5.99% so far this year and 26.58% over the past 12 months.
AQR Trend Total Return Fund
- 1D
- -0.59%
- 1M
- -1.85%
- YTD
- 5.99%
- 6M
- 10.93%
- 1Y
- 26.58%
- 3Y*
- 27.66%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Mar 17, 2022, QNZNX's average daily return is +0.08%, while the average monthly return is +1.67%. At this rate, your investment would double in approximately 3.5 years.
Historically, 73% of months were positive and 27% were negative. The best month was Oct 2022 with a return of +9.1%, 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, QNZNX 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%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 6.18% | 1.70% | -1.85% | 5.99% | |||||||||
| 2025 | 1.90% | 2.54% | -1.53% | -1.77% | 2.63% | 2.42% | 1.43% | 1.69% | 7.14% | 2.01% | 0.38% | 2.22% | 22.88% |
| 2024 | 6.27% | 1.66% | 7.68% | 0.83% | 5.19% | -0.43% | 1.08% | 0.85% | 3.66% | -3.33% | 5.20% | 2.21% | 34.96% |
| 2023 | 5.10% | 1.51% | -2.80% | 1.10% | -2.77% | 5.78% | 3.67% | 1.81% | 2.86% | 0.15% | 5.10% | -0.39% | 22.73% |
| 2022 | -2.53% | 2.87% | 5.57% | -8.42% | -0.63% | -4.44% | -5.22% | 9.11% | 6.42% | 0.06% | 1.37% |
Benchmark Metrics
AQR Trend Total Return Fund has an annualized alpha of 17.15%, beta of 0.42, and R² of 0.35 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 (74.50%) than losses (14.40%) — typical of diversified or defensive assets.
- Beta of 0.42 may look defensive, but with R² of 0.35 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 0.35 means the benchmark explains less than half of this fund's behavior — treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 17.15%
- Beta
- 0.42
- R²
- 0.35
- Upside Capture
- 74.50%
- Downside Capture
- 14.40%
Expense Ratio
QNZNX has a high expense ratio of 1.52%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
QNZNX 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.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for AQR Trend Total Return Fund (QNZNX) and compare them to a chosen benchmark (S&P 500 Index).
| QNZNX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.01 | 0.90 | +1.12 |
Sortino ratioReturn per unit of downside risk | 2.53 | 1.39 | +1.14 |
Omega ratioGain probability vs. loss probability | 1.39 | 1.21 | +0.18 |
Calmar ratioReturn relative to maximum drawdown | 2.56 | 1.40 | +1.16 |
Martin ratioReturn relative to average drawdown | 12.74 | 6.61 | +6.14 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore QNZNX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
AQR Trend Total Return Fund provided a 0.81% dividend yield over the last twelve months, with an annual payout of $0.14 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $0.14 | $0.14 | $2.17 | $2.62 | $0.23 |
Dividend yield | 0.81% | 0.86% | 16.46% | 23.14% | 2.04% |
Monthly Dividends
The table displays the monthly dividend distributions for AQR Trend Total Return Fund. 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 | |||||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.14 | $0.14 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.17 | $2.17 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.62 | $2.62 |
| 2022 | $0.23 | $0.23 |
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 Trend Total Return Fund. 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 was 18.38%, occurring on Sep 30, 2022. Recovery took 91 trading sessions.
The current AQR Trend Total Return Fund drawdown is 3.03%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -18.38% | Jun 8, 2022 | 80 | Sep 30, 2022 | 91 | Feb 10, 2023 | 171 |
| -13.48% | Feb 20, 2025 | 33 | Apr 7, 2025 | 71 | Jul 21, 2025 | 104 |
| -8.04% | Mar 7, 2023 | 14 | Mar 24, 2023 | 68 | Jul 3, 2023 | 82 |
| -6.59% | Jul 17, 2024 | 15 | Aug 6, 2024 | 11 | Aug 21, 2024 | 26 |
| -5.55% | Mar 22, 2022 | 12 | Apr 6, 2022 | 9 | Apr 20, 2022 | 21 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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