AQRIX vs. AIONX

Last updated Jun 4, 2026

AQRIX (AQR Multi-Asset Fund) and AIONX (AQR International Momentum Style Fund Class N) are both mutual funds - AQRIX is a Tactical Allocation fund managed by AQR Funds, while AIONX is a Foreign Large Cap Equities fund tracking the MSCI World Ex-USA Index. A 0.66 correlation means they provide meaningful diversification when combined. AQRIX charges 0.80%/yr vs 0.88%/yr for AIONX.

Performance

AQRIX vs. AIONX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Multi-Asset Fund (AQRIX) and AQR International Momentum Style Fund Class N (AIONX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AQRIX

• 1D: 0.23%
• 1M: 3.20%
• YTD: 10.80%
• 6M: 11.21%
• 1Y: 23.61%
• 3Y*: 16.30%
• 5Y*: 8.88%
• 10Y*: 8.58%

AIONX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AQRIX vs. AIONX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AQRIX AQR Multi-Asset Fund	10.80%	18.71%	10.45%	11.59%	-10.54%	14.35%	2.68%	21.03%	-6.95%	16.34%
AIONX AQR International Momentum Style Fund Class N	6.03%	34.58%	8.41%	16.39%	-19.64%	11.72%	16.32%	22.29%	-15.50%	24.99%

Correlation

The correlation between AQRIX and AIONX is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.66

The correlation between AQRIX and AIONX has been stable across timeframes, ranging from 0.66 to 0.72 - a consistent structural relationship.

Return for Risk

AQRIX vs. AIONX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AQRIX

AQRIX Risk / Return Rank: 70
AQRIX Sharpe Ratio Rank: 75
AQRIX Sortino Ratio Rank: 69
AQRIX Omega Ratio Rank: 66
AQRIX Calmar Ratio Rank: 69
AQRIX Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AQRIX vs. AIONX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Multi-Asset Fund (AQRIX) and AQR International Momentum Style Fund Class N (AIONX). 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.

	AQRIX	AIONX	Difference
Sharpe ratio: Return per unit of total volatility	2.51	—	—
Sortino ratio: Return per unit of downside risk	3.45	—	—
Omega ratio: Gain probability vs. loss probability	1.45	—	—
Calmar ratio: Return relative to maximum drawdown	3.22	—	—
Martin ratio: Return relative to average drawdown	13.70	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	AQRIX	AIONX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	—	—

Drawdowns

Drawdown Indicators

	AQRIX	AIONX	Difference
Max Drawdown Largest peak-to-trough decline	-19.37%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-7.48%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-11.05%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.37%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-19.37%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-4.82%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	—	—

Volatility

Volatility by Period

	AQRIX	AIONX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.62%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.59%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.67%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.79%	—	—

AQRIX vs. AIONX - Expense Ratio Comparison

AQRIX has a 0.80% expense ratio, which is lower than AIONX's 0.88% expense ratio.

Dividends

AQRIX vs. AIONX - Dividend Comparison

AQRIX's dividend yield for the trailing twelve months is around 3.48%, less than AIONX's 20.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIONX AQR International Momentum Style Fund Class N	20.01%	14.62%	21.87%	11.32%	2.62%	1.77%	0.95%	2.12%	1.85%	1.96%	2.23%	1.30%
AQRIX AQR Multi-Asset Fund	3.48%	3.85%	1.72%	2.40%	6.82%	6.39%	1.09%	6.65%	7.36%	10.49%	7.08%	2.51%

Frequently Asked Questions

Can I hold both AQRIX and AIONX in my portfolio?

AQRIX and AIONX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.