ALLW vs. QNZNX
ALLW (State Street Bridgewater All Weather ETF) and QNZNX (AQR Trend Total Return Fund) are both funds - ALLW is a Tactical Allocation fund actively managed by State Street, while QNZNX is a Systematic Trend fund actively managed by AQR Funds. Both are actively managed. Over the past year, ALLW returned 20.60% vs 36.10% for QNZNX. At a 0.46 correlation, their price movements are largely independent. ALLW charges 0.85%/yr vs 1.52%/yr for QNZNX.
Performance
ALLW vs. QNZNX - Performance Comparison
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Returns By Period
In the year-to-date period, ALLW achieves a 6.69% return, which is significantly lower than QNZNX's 15.72% return.
ALLW
- 1D
- 0.10%
- 1M
- -2.98%
- YTD
- 6.69%
- 6M
- 6.94%
- 1Y
- 20.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QNZNX
- 1D
- -2.01%
- 1M
- 0.82%
- YTD
- 15.72%
- 6M
- 17.77%
- 1Y
- 36.10%
- 3Y*
- 31.08%
- 5Y*
- —
- 10Y*
- —
ALLW vs. QNZNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ALLW State Street Bridgewater All Weather ETF | 6.69% | 15.04% |
QNZNX AQR Trend Total Return Fund | 15.72% | 18.99% |
Correlation
The correlation between ALLW and QNZNX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2025 | 0.46 |
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Return for Risk
ALLW vs. QNZNX — Risk / Return Rank
ALLW
QNZNX
ALLW vs. QNZNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Bridgewater All Weather ETF (ALLW) and AQR Trend Total Return Fund (QNZNX). 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.
| ALLW | QNZNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.37 | ||
| Sortino ratioReturn per unit of downside risk | -1.72 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.59 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.86 | 7.41 | -4.55 |
| Martin ratioReturn relative to average drawdown | 11.98 | 29.90 | -17.92 |
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
| ALLW | QNZNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.93 | 3.30 | -1.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.41 | 1.91 | -0.50 |
Drawdowns
ALLW vs. QNZNX - Drawdown Comparison
The maximum ALLW drawdown since its inception was -8.78%, smaller than the maximum QNZNX drawdown of -18.38%. Use the drawdown chart below to compare losses from any high point for ALLW and QNZNX.
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Drawdown Indicators
| ALLW | QNZNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.78% | -18.38% | +9.60% |
Max Drawdown (1Y)Largest decline over 1 year | -7.23% | -4.88% | -2.35% |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.48% | — |
Current DrawdownCurrent decline from peak | -3.07% | -2.42% | -0.65% |
Average DrawdownAverage peak-to-trough decline | -1.21% | -2.77% | +1.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | 1.21% | +0.51% |
Volatility
ALLW vs. QNZNX - Volatility Comparison
State Street Bridgewater All Weather ETF (ALLW) has a higher volatility of 3.93% compared to AQR Trend Total Return Fund (QNZNX) at 3.22%. This indicates that ALLW's price experiences larger fluctuations and is considered to be riskier than QNZNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALLW | QNZNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.93% | 3.22% | +0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 9.05% | 7.45% | +1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.76% | 10.99% | -0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.68% | 12.08% | +0.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.68% | 12.08% | +0.60% |
ALLW vs. QNZNX - Expense Ratio Comparison
ALLW has a 0.85% expense ratio, which is lower than QNZNX's 1.52% expense ratio.
Dividends
ALLW vs. QNZNX - Dividend Comparison
ALLW's dividend yield for the trailing twelve months is around 4.38%, more than QNZNX's 0.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
ALLW State Street Bridgewater All Weather ETF | 4.38% | 4.67% | 0.00% | 0.00% | 0.00% |
QNZNX AQR Trend Total Return Fund | 0.74% | 0.86% | 16.46% | 23.14% | 2.04% |
Frequently Asked Questions
ALLW and QNZNX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ALLW has higher volatility (3.93%) compared to QNZNX (3.22%). In terms of maximum drawdown, ALLW dropped -8.78% vs QNZNX's -18.38%.
QNZNX currently has the higher Sharpe Ratio (3.30 vs 1.93), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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