AQRNX vs. AQRIX

Last updated Aug 5, 2026

AQRNX (AQR Multi-Asset Fund Class N) and AQRIX (AQR Multi-Asset Fund) are both mutual funds - AQRNX is a Diversified Portfolio fund actively managed by AQR, while AQRIX is a Tactical Allocation fund managed by AQR. Over the past 10 years, AQRNX returned 7.96%/yr vs 8.11%/yr for AQRIX. Their 0.99 correlation means they have historically moved very closely together. AQRNX charges 1.31%/yr vs 0.80%/yr for AQRIX.

Performance

AQRNX vs. AQRIX - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with AQRNX having a 9.59% return and AQRIX slightly higher at 9.72%. Both investments have delivered pretty close results over the past 10 years, with AQRNX having a 7.96% annualized return and AQRIX not far ahead at 8.11%.

AQRNX

• 1D: 0.85%
• 1M: 1.80%
• 6M: 6.89%
• YTD: 9.59%
• 1Y: 17.92%
• 3Y*: 14.22%
• 5Y*: 7.37%
• 10Y*: 7.96%
• ALL TIME*: 6.90%

AQRIX

• 1D: 0.85%
• 1M: 1.79%
• 6M: 7.03%
• YTD: 9.72%
• 1Y: 18.25%
• 3Y*: 14.51%
• 5Y*: 7.62%
• 10Y*: 8.11%
• ALL TIME*: 7.10%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AQRIX AQR Multi-Asset Fund	$0.00	$0.00	$0.00
AQRNX AQR Multi-Asset Fund Class N	$0.00	$0.00	$0.00

AQRNX vs. AQRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AQRNX AQR Multi-Asset Fund Class N	9.59%	18.46%	10.07%	11.38%	-10.73%	14.06%	2.41%	21.98%	-7.22%	16.12%
AQRIX AQR Multi-Asset Fund	9.72%	18.71%	10.45%	11.59%	-10.54%	14.35%	2.68%	21.03%	-6.95%	16.34%

Correlation

The correlation between AQRNX and AQRIX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	1.00
Correlation (3Y) Balances recent behavior with more history.	0.99
Correlation (5Y) Shows whether the relationship held over a longer period.	1.00
Correlation (10Y) Provides a long-term view across more market conditions.	0.99
Correlation (All Time) Calculated using the full available price history since Sep 30, 2010	0.99

The correlation between AQRNX and AQRIX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

AQRNX vs. AQRIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AQRNX

AQRNX Risk / Return Rank: 71
AQRNX Sharpe Ratio Rank: 74
AQRNX Sortino Ratio Rank: 71
AQRNX Omega Ratio Rank: 67
AQRNX Calmar Ratio Rank: 72
AQRNX Martin Ratio Rank: 70

AQRIX

AQRIX Risk / Return Rank: 77
AQRIX Sharpe Ratio Rank: 80
AQRIX Sortino Ratio Rank: 76
AQRIX Omega Ratio Rank: 74
AQRIX Calmar Ratio Rank: 77
AQRIX Martin Ratio Rank: 77

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AQRNX vs. AQRIX - Risk-Adjusted Trends Comparison

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

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AQRNX	AQRIX	Difference
Sharpe ratio: Return per unit of total volatility	1.91	1.94	-0.04
Sortino ratio: Return per unit of downside risk	2.65	2.69	-0.04
Omega ratio: Gain probability vs. loss probability	1.34	1.34	-0.01
Calmar ratio: Return relative to maximum drawdown	2.65	2.66	-0.01
Martin ratio: Return relative to average drawdown	10.05	10.21	-0.16

AQRNX vs. AQRIX - Sharpe Ratio Comparison

The current AQRNX Sharpe Ratio is 1.91, which is comparable to the AQRIX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of AQRNX and AQRIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AQRNX vs. AQRIX - Drawdown Comparison

The maximum AQRNX drawdown since its inception was -19.37%, roughly equal to the maximum AQRIX drawdown of -19.37%. Use the drawdown chart below to compare losses from any high point for AQRNX and AQRIX.

Drawdown Indicators

	AQRNX	AQRIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.37%	-19.37%	0.00%
Max Drawdown (1Y) Largest decline over 1 year	-7.43%	-7.48%	+0.05%
Max Drawdown (3Y) Largest decline over 3 years	-11.09%	-11.05%	-0.04%
Max Drawdown (5Y) Largest decline over 5 years	-19.37%	-19.37%	0.00%
Max Drawdown (10Y) Largest decline over 10 years	-19.37%	-19.37%	0.00%
Current Drawdown Current decline from peak	-0.99%	-0.98%	-0.01%
Average Drawdown Average peak-to-trough decline	-4.86%	-4.79%	-0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	1.95%	0.00%

Volatility

AQRNX vs. AQRIX - Volatility Comparison

AQR Multi-Asset Fund Class N (AQRNX) and AQR Multi-Asset Fund (AQRIX) have volatilities of 2.72% and 2.72%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AQRNX	AQRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.72%	2.72%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	7.86%	7.81%	+0.05%
Volatility (1Y) Calculated over the trailing 1-year period	10.35%	10.26%	+0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.72%	10.74%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.82%	9.83%	-0.01%

AQRNX vs. AQRIX - Expense Ratio Comparison

AQRNX has a 1.31% expense ratio, which is higher than AQRIX's 0.80% expense ratio.

Dividends

AQRNX vs. AQRIX - Dividend Comparison

AQRNX's dividend yield for the trailing twelve months is around 3.35%, less than AQRIX's 3.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AQRIX AQR Multi-Asset Fund	3.51%	3.85%	1.72%	2.40%	6.82%	6.39%	1.09%	6.65%	7.36%	10.49%	7.08%	2.51%
AQRNX AQR Multi-Asset Fund Class N	3.35%	3.67%	1.44%	2.18%	6.67%	6.21%	0.72%	7.45%	7.08%	10.27%	6.78%	2.51%

Frequently Asked Questions

Can I hold both AQRNX and AQRIX in my portfolio?

With a correlation of 1.00, AQRNX and AQRIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AQRNX or AQRIX?

AQRIX has higher volatility (2.72%) compared to AQRNX (2.72%). In terms of maximum drawdown, AQRNX dropped -19.37% vs AQRIX's -19.37%.

Which has better risk-adjusted returns?

AQRIX currently has the higher Sharpe Ratio (1.94 vs 1.91), 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.