AQMIX vs. QAI
Compare and contrast key facts about AQR Managed Futures Strategy Fund (AQMIX) and IQ Hedge Multi-Strategy Tracker ETF (QAI).
AQMIX is managed by AQR Funds. It was launched on Jan 5, 2010. QAI is a passively managed fund by New York Life that tracks the performance of the IQ Hedge Multi-Strategy Index. It was launched on Mar 25, 2009.
Performance
AQMIX vs. QAI - Performance Comparison
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AQMIX vs. QAI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AQMIX AQR Managed Futures Strategy Fund | 10.24% | 14.62% | 8.13% | 2.08% | 35.47% | -1.04% | -0.43% | 1.92% | -8.88% | -0.97% |
QAI IQ Hedge Multi-Strategy Tracker ETF | 1.82% | 8.29% | 6.67% | 10.07% | -8.68% | -0.16% | 5.73% | 8.68% | -3.32% | 6.17% |
Returns By Period
In the year-to-date period, AQMIX achieves a 10.24% return, which is significantly higher than QAI's 1.82% return. Over the past 10 years, AQMIX has outperformed QAI with an annualized return of 4.48%, while QAI has yielded a comparatively lower 3.30% annualized return.
AQMIX
- 1D
- -0.47%
- 1M
- 1.83%
- YTD
- 10.24%
- 6M
- 13.71%
- 1Y
- 21.11%
- 3Y*
- 13.50%
- 5Y*
- 12.65%
- 10Y*
- 4.48%
QAI
- 1D
- 1.25%
- 1M
- -2.23%
- YTD
- 1.82%
- 6M
- 2.98%
- 1Y
- 10.61%
- 3Y*
- 8.05%
- 5Y*
- 3.40%
- 10Y*
- 3.30%
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AQMIX vs. QAI - Expense Ratio Comparison
AQMIX has a 1.25% expense ratio, which is higher than QAI's 0.79% expense ratio.
Return for Risk
AQMIX vs. QAI — Risk / Return Rank
AQMIX
QAI
AQMIX vs. QAI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Managed Futures Strategy Fund (AQMIX) and IQ Hedge Multi-Strategy Tracker ETF (QAI). 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.
| AQMIX | QAI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.26 | 1.41 | +0.85 |
Sortino ratioReturn per unit of downside risk | 2.83 | 1.99 | +0.84 |
Omega ratioGain probability vs. loss probability | 1.42 | 1.31 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 3.87 | 1.93 | +1.95 |
Martin ratioReturn relative to average drawdown | 11.40 | 8.93 | +2.47 |
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
| AQMIX | QAI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.26 | 1.41 | +0.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.10 | 0.53 | +0.58 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.54 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.51 | -0.10 |
Correlation
The correlation between AQMIX and QAI is 0.08, 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
AQMIX vs. QAI - Dividend Comparison
AQMIX's dividend yield for the trailing twelve months is around 2.05%, more than QAI's 1.48% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AQMIX AQR Managed Futures Strategy Fund | 2.05% | 2.26% | 3.83% | 8.39% | 12.76% | 6.94% | 5.31% | 3.13% | 0.00% | 0.00% | 0.02% | 6.51% |
QAI IQ Hedge Multi-Strategy Tracker ETF | 1.48% | 1.50% | 2.22% | 4.08% | 2.00% | 0.28% | 1.98% | 1.91% | 1.90% | 0.00% | 0.00% | 0.48% |
Drawdowns
AQMIX vs. QAI - Drawdown Comparison
The maximum AQMIX drawdown since its inception was -26.52%, which is greater than QAI's maximum drawdown of -14.95%. Use the drawdown chart below to compare losses from any high point for AQMIX and QAI.
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Drawdown Indicators
| AQMIX | QAI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.52% | -14.95% | -11.57% |
Max Drawdown (1Y)Largest decline over 1 year | -5.45% | -5.43% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -13.57% | -14.32% | +0.75% |
Max Drawdown (10Y)Largest decline over 10 years | -23.34% | -14.95% | -8.39% |
Current DrawdownCurrent decline from peak | -0.47% | -2.51% | +2.04% |
Average DrawdownAverage peak-to-trough decline | -10.10% | -2.60% | -7.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 1.17% | +0.68% |
Volatility
AQMIX vs. QAI - Volatility Comparison
The current volatility for AQR Managed Futures Strategy Fund (AQMIX) is 2.54%, while IQ Hedge Multi-Strategy Tracker ETF (QAI) has a volatility of 2.83%. This indicates that AQMIX experiences smaller price fluctuations and is considered to be less risky than QAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AQMIX | QAI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.54% | 2.83% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 6.69% | 4.95% | +1.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.62% | 7.55% | +2.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.55% | 6.51% | +5.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.36% | 6.12% | +4.24% |