ADANX vs. CSQIX
Compare and contrast key facts about AQR Diversified Arbitrage Fund Class N (ADANX) and Manteio Multialternative Strategy Fund I (CSQIX).
ADANX is an actively managed fund by AQR Funds. It was launched on Jan 15, 2009. CSQIX is an actively managed fund by Investment Managers Series Trust III. It was launched on Mar 29, 2012.
Performance
ADANX vs. CSQIX - Performance Comparison
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ADANX vs. CSQIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ADANX AQR Diversified Arbitrage Fund Class N | 0.70% | 7.75% | 2.92% | 4.23% | -3.54% | 5.99% | 24.85% | 8.33% | 2.02% | 5.59% |
CSQIX Manteio Multialternative Strategy Fund I | 0.99% | 0.90% | 0.87% | 1.95% | 5.82% | 10.23% | 6.39% | 4.30% | -5.08% | 3.85% |
Returns By Period
In the year-to-date period, ADANX achieves a 0.70% return, which is significantly lower than CSQIX's 0.99% return. Over the past 10 years, ADANX has outperformed CSQIX with an annualized return of 6.48%, while CSQIX has yielded a comparatively lower 3.28% annualized return.
ADANX
- 1D
- -0.15%
- 1M
- 0.08%
- YTD
- 0.70%
- 6M
- 2.42%
- 1Y
- 5.97%
- 3Y*
- 4.89%
- 5Y*
- 2.44%
- 10Y*
- 6.48%
CSQIX
- 1D
- -0.37%
- 1M
- -4.78%
- YTD
- 0.99%
- 6M
- 1.77%
- 1Y
- -1.26%
- 3Y*
- 2.70%
- 5Y*
- 3.14%
- 10Y*
- 3.28%
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ADANX vs. CSQIX - Expense Ratio Comparison
ADANX has a 2.12% expense ratio, which is higher than CSQIX's 0.90% expense ratio.
Return for Risk
ADANX vs. CSQIX — Risk / Return Rank
ADANX
CSQIX
ADANX vs. CSQIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Diversified Arbitrage Fund Class N (ADANX) and Manteio Multialternative Strategy Fund I (CSQIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| ADANX | CSQIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.98 | -0.12 | +4.10 |
Sortino ratioReturn per unit of downside risk | 6.52 | -0.11 | +6.63 |
Omega ratioGain probability vs. loss probability | 1.95 | 0.99 | +0.97 |
Calmar ratioReturn relative to maximum drawdown | 9.27 | -0.20 | +9.47 |
Martin ratioReturn relative to average drawdown | 37.03 | -0.33 | +37.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ADANX | CSQIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.98 | -0.12 | +4.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.91 | 0.30 | +0.61 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.51 | 0.03 | +1.49 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.12 | 0.03 | +1.09 |
Correlation
The correlation between ADANX and CSQIX is 0.07, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
ADANX vs. CSQIX - Dividend Comparison
ADANX's dividend yield for the trailing twelve months is around 1.84%, more than CSQIX's 1.26% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ADANX AQR Diversified Arbitrage Fund Class N | 1.84% | 1.86% | 0.96% | 2.47% | 0.10% | 0.40% | 1.33% | 1.81% | 6.22% | 6.84% | 6.83% | 4.43% |
CSQIX Manteio Multialternative Strategy Fund I | 1.26% | 1.28% | 13.42% | 2.95% | 2.80% | 9.19% | 13.34% | 4.97% | 1.84% | 4.76% | 2.11% | 0.24% |
Drawdowns
ADANX vs. CSQIX - Drawdown Comparison
The maximum ADANX drawdown since its inception was -14.73%, smaller than the maximum CSQIX drawdown of -80.60%. Use the drawdown chart below to compare losses from any high point for ADANX and CSQIX.
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Drawdown Indicators
| ADANX | CSQIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.73% | -80.60% | +65.87% |
Max Drawdown (1Y)Largest decline over 1 year | -0.64% | -5.02% | +4.38% |
Max Drawdown (5Y)Largest decline over 5 years | -7.48% | -13.33% | +5.85% |
Max Drawdown (10Y)Largest decline over 10 years | -14.73% | -80.60% | +65.87% |
Current DrawdownCurrent decline from peak | -0.31% | -73.55% | +73.24% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -47.66% | +44.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.16% | 3.11% | -2.95% |
Volatility
ADANX vs. CSQIX - Volatility Comparison
The current volatility for AQR Diversified Arbitrage Fund Class N (ADANX) is 0.41%, while Manteio Multialternative Strategy Fund I (CSQIX) has a volatility of 3.06%. This indicates that ADANX experiences smaller price fluctuations and is considered to be less risky than CSQIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ADANX | CSQIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 3.06% | -2.65% |
Volatility (6M)Calculated over the trailing 6-month period | 1.06% | 5.81% | -4.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.53% | 7.74% | -6.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.68% | 10.36% | -7.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.29% | 130.39% | -126.10% |