AIONX vs. PZRIX
Compare and contrast key facts about AQR International Momentum Style Fund Class N (AIONX) and PIMCO RAE Global ex-US Fund (PZRIX).
AIONX is a passively managed fund by AQR Funds that tracks the performance of the MSCI World Ex-USA Index. It was launched on Jul 9, 2009. PZRIX is managed by PIMCO. It was launched on Jun 4, 2015.
Performance
AIONX vs. PZRIX - Performance Comparison
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AIONX vs. PZRIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AIONX AQR International Momentum Style Fund Class N | 0.00% | 34.58% | 8.41% | 16.39% | -19.64% | 11.72% | 16.32% | 22.29% | -15.50% | 24.99% |
PZRIX PIMCO RAE Global ex-US Fund | 9.93% | 34.05% | 3.29% | 19.31% | -9.11% | 12.08% | 1.74% | 15.94% | -14.93% | 26.00% |
Returns By Period
Over the past 10 years, AIONX has underperformed PZRIX with an annualized return of 8.58%, while PZRIX has yielded a comparatively higher 10.15% annualized return.
AIONX
- 1D
- 3.56%
- 1M
- -6.89%
- YTD
- 0.00%
- 6M
- 3.63%
- 1Y
- 23.28%
- 3Y*
- 17.24%
- 5Y*
- 8.40%
- 10Y*
- 8.58%
PZRIX
- 1D
- 1.89%
- 1M
- -4.32%
- YTD
- 9.93%
- 6M
- 17.91%
- 1Y
- 37.11%
- 3Y*
- 19.65%
- 5Y*
- 10.81%
- 10Y*
- 10.15%
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AIONX vs. PZRIX - Expense Ratio Comparison
AIONX has a 0.88% expense ratio, which is higher than PZRIX's 0.00% expense ratio.
Return for Risk
AIONX vs. PZRIX — Risk / Return Rank
AIONX
PZRIX
AIONX vs. PZRIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR International Momentum Style Fund Class N (AIONX) and PIMCO RAE Global ex-US Fund (PZRIX). 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.
| AIONX | PZRIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.34 | 2.67 | -1.34 |
Sortino ratioReturn per unit of downside risk | 1.85 | 3.39 | -1.54 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.52 | -0.25 |
Calmar ratioReturn relative to maximum drawdown | 1.99 | 3.09 | -1.10 |
Martin ratioReturn relative to average drawdown | 7.80 | 14.29 | -6.48 |
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
| AIONX | PZRIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.34 | 2.67 | -1.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 0.69 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.60 | -0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.59 | -0.17 |
Correlation
The correlation between AIONX and PZRIX is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
AIONX vs. PZRIX - Dividend Comparison
AIONX's dividend yield for the trailing twelve months is around 14.62%, more than PZRIX's 5.96% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIONX AQR International Momentum Style Fund Class N | 14.62% | 14.62% | 21.87% | 11.32% | 2.62% | 1.77% | 0.95% | 2.12% | 1.85% | 1.96% | 2.23% | 1.30% |
PZRIX PIMCO RAE Global ex-US Fund | 5.96% | 6.56% | 6.70% | 9.19% | 8.80% | 11.99% | 2.04% | 6.32% | 2.80% | 4.13% | 2.58% | 0.00% |
Drawdowns
AIONX vs. PZRIX - Drawdown Comparison
The maximum AIONX drawdown since its inception was -32.32%, smaller than the maximum PZRIX drawdown of -43.53%. Use the drawdown chart below to compare losses from any high point for AIONX and PZRIX.
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Drawdown Indicators
| AIONX | PZRIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.32% | -43.53% | +11.21% |
Max Drawdown (1Y)Largest decline over 1 year | -11.70% | -10.68% | -1.02% |
Max Drawdown (5Y)Largest decline over 5 years | -32.32% | -30.85% | -1.47% |
Max Drawdown (10Y)Largest decline over 10 years | -32.32% | -43.53% | +11.21% |
Current DrawdownCurrent decline from peak | -8.56% | -5.20% | -3.36% |
Average DrawdownAverage peak-to-trough decline | -7.75% | -9.00% | +1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.98% | 2.45% | +0.53% |
Volatility
AIONX vs. PZRIX - Volatility Comparison
AQR International Momentum Style Fund Class N (AIONX) has a higher volatility of 8.64% compared to PIMCO RAE Global ex-US Fund (PZRIX) at 5.45%. This indicates that AIONX's price experiences larger fluctuations and is considered to be riskier than PZRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AIONX | PZRIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.64% | 5.45% | +3.19% |
Volatility (6M)Calculated over the trailing 6-month period | 12.40% | 8.92% | +3.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.00% | 14.17% | +3.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.99% | 15.85% | +1.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.73% | 17.02% | -0.29% |