AIONX vs. QMNNX
Compare and contrast key facts about AQR International Momentum Style Fund Class N (AIONX) and AQR Equity Market Neutral Fund N (QMNNX).
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. QMNNX is managed by AQR Funds. It was launched on Oct 7, 2014.
Performance
AIONX vs. QMNNX - Performance Comparison
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AIONX vs. QMNNX - 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% |
QMNNX AQR Equity Market Neutral Fund N | -3.52% | 26.19% | 25.43% | 16.30% | 27.07% | 17.38% | -19.79% | -11.55% | -11.94% | 5.56% |
Returns By Period
Over the past 10 years, AIONX has outperformed QMNNX with an annualized return of 8.58%, while QMNNX has yielded a comparatively lower 6.07% 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%
QMNNX
- 1D
- -0.17%
- 1M
- 0.43%
- YTD
- -3.52%
- 6M
- 1.87%
- 1Y
- 10.76%
- 3Y*
- 20.68%
- 5Y*
- 18.37%
- 10Y*
- 6.07%
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AIONX vs. QMNNX - Expense Ratio Comparison
AIONX has a 0.88% expense ratio, which is lower than QMNNX's 5.28% expense ratio.
Return for Risk
AIONX vs. QMNNX — Risk / Return Rank
AIONX
QMNNX
AIONX vs. QMNNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR International Momentum Style Fund Class N (AIONX) and AQR Equity Market Neutral Fund N (QMNNX). 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 | QMNNX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.34 | 1.77 | -0.43 |
Sortino ratioReturn per unit of downside risk | 1.85 | 2.40 | -0.54 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.33 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.99 | 2.06 | -0.07 |
Martin ratioReturn relative to average drawdown | 7.80 | 5.15 | +2.66 |
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 | QMNNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.34 | 1.77 | -0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 1.94 | -1.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.74 | -0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.87 | -0.45 |
Correlation
The correlation between AIONX and QMNNX is 0.01, 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
AIONX vs. QMNNX - Dividend Comparison
AIONX's dividend yield for the trailing twelve months is around 14.62%, more than QMNNX's 1.30% 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% |
QMNNX AQR Equity Market Neutral Fund N | 1.30% | 1.26% | 6.06% | 21.67% | 5.77% | 1.41% | 17.64% | 3.86% | 0.49% | 3.37% | 1.19% | 2.51% |
Drawdowns
AIONX vs. QMNNX - Drawdown Comparison
The maximum AIONX drawdown since its inception was -32.32%, smaller than the maximum QMNNX drawdown of -39.22%. Use the drawdown chart below to compare losses from any high point for AIONX and QMNNX.
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Drawdown Indicators
| AIONX | QMNNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.32% | -39.22% | +6.90% |
Max Drawdown (1Y)Largest decline over 1 year | -11.70% | -5.47% | -6.23% |
Max Drawdown (5Y)Largest decline over 5 years | -32.32% | -14.23% | -18.09% |
Max Drawdown (10Y)Largest decline over 10 years | -32.32% | -39.22% | +6.90% |
Current DrawdownCurrent decline from peak | -8.56% | -3.92% | -4.64% |
Average DrawdownAverage peak-to-trough decline | -7.75% | -10.67% | +2.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.98% | 2.19% | +0.79% |
Volatility
AIONX vs. QMNNX - Volatility Comparison
AQR International Momentum Style Fund Class N (AIONX) has a higher volatility of 8.64% compared to AQR Equity Market Neutral Fund N (QMNNX) at 1.36%. This indicates that AIONX's price experiences larger fluctuations and is considered to be riskier than QMNNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AIONX | QMNNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.64% | 1.36% | +7.28% |
Volatility (6M)Calculated over the trailing 6-month period | 12.40% | 4.07% | +8.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.00% | 6.29% | +11.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.99% | 9.53% | +7.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.73% | 8.23% | +8.50% |