AUEIX vs. MOAT

Last updated Jun 23, 2026

AUEIX (AQR Large Cap Defensive Style Fund) and MOAT (VanEck Morningstar Wide Moat ETF) are both Large Cap Blend Equities funds. Over the past 10 years, AUEIX returned 10.90%/yr vs 13.63%/yr for MOAT. Their correlation of 0.81 suggests significant overlap in exposure. AUEIX charges 0.37%/yr vs 0.47%/yr for MOAT.

Performance

AUEIX vs. MOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Large Cap Defensive Style Fund (AUEIX) and VanEck Morningstar Wide Moat ETF (MOAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AUEIX achieves a 5.72% return, which is significantly higher than MOAT's -2.48% return. Over the past 10 years, AUEIX has underperformed MOAT with an annualized return of 10.90%, while MOAT has yielded a comparatively higher 13.63% annualized return.

AUEIX

• 1D: 0.43%
• 1M: -0.27%
• YTD: 5.72%
• 6M: 4.77%
• 1Y: 8.26%
• 3Y*: 10.69%
• 5Y*: 6.79%
• 10Y*: 10.90%

MOAT

• 1D: -1.11%
• 1M: -1.22%
• YTD: -2.48%
• 6M: -3.43%
• 1Y: 12.95%
• 3Y*: 10.33%
• 5Y*: 7.77%
• 10Y*: 13.63%

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

AUEIX vs. MOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AUEIX AQR Large Cap Defensive Style Fund	5.72%	6.95%	13.85%	9.49%	-13.81%	23.52%	13.10%	28.63%	-0.27%	22.14%
MOAT VanEck Morningstar Wide Moat ETF	-2.48%	13.20%	10.73%	31.89%	-13.66%	24.12%	14.84%	34.79%	-1.28%	23.18%

Correlation

The correlation between AUEIX and MOAT is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jul 9, 2012	0.81

The correlation between AUEIX and MOAT shifts across timeframes, from 0.69 (1 year) to 0.81 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

AUEIX vs. MOAT — Risk / Return Rank

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

AUEIX

AUEIX Risk / Return Rank: 16
AUEIX Sharpe Ratio Rank: 14
AUEIX Sortino Ratio Rank: 14
AUEIX Omega Ratio Rank: 13
AUEIX Calmar Ratio Rank: 17
AUEIX Martin Ratio Rank: 20

MOAT

MOAT Risk / Return Rank: 25
MOAT Sharpe Ratio Rank: 27
MOAT Sortino Ratio Rank: 26
MOAT Omega Ratio Rank: 24
MOAT Calmar Ratio Rank: 23
MOAT Martin Ratio Rank: 25

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.

AUEIX vs. MOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Large Cap Defensive Style Fund (AUEIX) and VanEck Morningstar Wide Moat ETF (MOAT). 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.

	AUEIX	MOAT	Difference
Sharpe ratio: Return per unit of total volatility	1.00	0.93	+0.07
Sortino ratio: Return per unit of downside risk	1.45	1.41	+0.04
Omega ratio: Gain probability vs. loss probability	1.18	1.16	+0.02
Calmar ratio: Return relative to maximum drawdown	1.41	1.05	+0.36
Martin ratio: Return relative to average drawdown	4.67	3.16	+1.51

AUEIX vs. MOAT - Sharpe Ratio Comparison

The current AUEIX Sharpe Ratio is 1.00, which is comparable to the MOAT Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of AUEIX and MOAT, 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

AUEIX vs. MOAT - Drawdown Comparison

The maximum AUEIX drawdown since its inception was -30.82%, smaller than the maximum MOAT drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for AUEIX and MOAT.

Drawdown Indicators

	AUEIX	MOAT	Difference
Max Drawdown Largest peak-to-trough decline	-30.82%	-33.31%	+2.49%
Max Drawdown (1Y) Largest decline over 1 year	-5.91%	-12.43%	+6.52%
Max Drawdown (3Y) Largest decline over 3 years	-10.27%	-21.44%	+11.17%
Max Drawdown (5Y) Largest decline over 5 years	-22.08%	-23.96%	+1.88%
Max Drawdown (10Y) Largest decline over 10 years	-30.82%	-33.31%	+2.49%
Current Drawdown Current decline from peak	-1.32%	-6.20%	+4.88%
Average Drawdown Average peak-to-trough decline	-3.41%	-3.83%	+0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	4.11%	-2.33%

Volatility

AUEIX vs. MOAT - Volatility Comparison

The current volatility for AQR Large Cap Defensive Style Fund (AUEIX) is 3.42%, while VanEck Morningstar Wide Moat ETF (MOAT) has a volatility of 4.72%. This indicates that AUEIX experiences smaller price fluctuations and is considered to be less risky than MOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUEIX	MOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.42%	4.72%	-1.30%
Volatility (6M) Calculated over the trailing 6-month period	6.24%	10.24%	-4.00%
Volatility (1Y) Calculated over the trailing 1-year period	8.38%	14.02%	-5.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.04%	18.24%	-5.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.22%	18.70%	-3.48%

AUEIX vs. MOAT - Expense Ratio Comparison

AUEIX has a 0.37% expense ratio, which is lower than MOAT's 0.47% expense ratio.

Dividends

AUEIX vs. MOAT - Dividend Comparison

AUEIX's dividend yield for the trailing twelve months is around 21.47%, more than MOAT's 1.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AUEIX AQR Large Cap Defensive Style Fund	21.47%	22.70%	24.31%	24.28%	10.26%	2.54%	1.29%	1.12%	1.67%	2.36%	1.99%	6.18%
MOAT VanEck Morningstar Wide Moat ETF	1.39%	1.36%	1.37%	0.86%	1.25%	1.08%	1.46%	1.31%	1.79%	1.07%	1.17%	2.13%

Frequently Asked Questions

Can I hold both AUEIX and MOAT in my portfolio?

AUEIX and MOAT have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AUEIX or MOAT?

MOAT has higher volatility (4.72%) compared to AUEIX (3.42%). In terms of maximum drawdown, AUEIX dropped -30.82% vs MOAT's -33.31%.

Which has better risk-adjusted returns?

AUEIX currently has the higher Sharpe Ratio (1.00 vs 0.93), 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.