AUEIX vs. QUERX

Last updated Jun 6, 2026

AUEIX (AQR Large Cap Defensive Style Fund) and QUERX (AQR Large Cap Defensive Style Fund Class R6) are both Large Cap Blend Equities funds from AQR Funds. Over the past 10 years, AUEIX returned 10.97%/yr vs 11.05%/yr for QUERX. With a 1.00 correlation, they move nearly in lockstep. AUEIX charges 0.37%/yr vs 0.31%/yr for QUERX.

Performance

AUEIX vs. QUERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Large Cap Defensive Style Fund (AUEIX) and AQR Large Cap Defensive Style Fund Class R6 (QUERX). 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 AUEIX having a 6.86% return and QUERX slightly higher at 6.88%. Both investments have delivered pretty close results over the past 10 years, with AUEIX having a 10.97% annualized return and QUERX not far ahead at 11.05%.

AUEIX

• 1D: 0.43%
• 1M: 3.00%
• YTD: 6.86%
• 6M: 6.30%
• 1Y: 8.44%
• 3Y*: 11.84%
• 5Y*: 6.71%
• 10Y*: 10.97%

QUERX

• 1D: 0.43%
• 1M: 2.96%
• YTD: 6.88%
• 6M: 6.29%
• 1Y: 8.49%
• 3Y*: 11.91%
• 5Y*: 6.78%
• 10Y*: 11.05%

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

AUEIX vs. QUERX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AUEIX AQR Large Cap Defensive Style Fund	6.86%	6.95%	13.85%	9.49%	-13.81%	23.52%	13.10%	28.63%	-0.27%	22.14%
QUERX AQR Large Cap Defensive Style Fund Class R6	6.88%	6.98%	13.98%	9.55%	-13.73%	23.56%	13.20%	28.82%	-0.21%	22.22%

Correlation

The correlation between AUEIX and QUERX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jan 5, 2015	1.00

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

Return for Risk

AUEIX vs. QUERX — 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: 15
AUEIX Sortino Ratio Rank: 15
AUEIX Omega Ratio Rank: 14
AUEIX Calmar Ratio Rank: 17
AUEIX Martin Ratio Rank: 18

QUERX

QUERX Risk / Return Rank: 16
QUERX Sharpe Ratio Rank: 16
QUERX Sortino Ratio Rank: 16
QUERX Omega Ratio Rank: 14
QUERX Calmar Ratio Rank: 18
QUERX Martin Ratio Rank: 19

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. QUERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Large Cap Defensive Style Fund (AUEIX) and AQR Large Cap Defensive Style Fund Class R6 (QUERX). 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.

	AUEIX	QUERX	Difference
Sharpe ratio: Return per unit of total volatility	1.04	1.05	-0.01
Sortino ratio: Return per unit of downside risk	1.54	1.55	-0.01
Omega ratio: Gain probability vs. loss probability	1.18	1.18	0.00
Calmar ratio: Return relative to maximum drawdown	1.40	1.41	-0.01
Martin ratio: Return relative to average drawdown	4.67	4.74	-0.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AUEIX vs. QUERX - Sharpe Ratio Comparison

The current AUEIX Sharpe Ratio is 1.04, which is comparable to the QUERX Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of AUEIX and QUERX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AUEIX	QUERX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	1.05	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.52	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	0.73	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.73	+0.13

Drawdowns

AUEIX vs. QUERX - Drawdown Comparison

The maximum AUEIX drawdown since its inception was -30.82%, roughly equal to the maximum QUERX drawdown of -30.81%. Use the drawdown chart below to compare losses from any high point for AUEIX and QUERX.

Drawdown Indicators

	AUEIX	QUERX	Difference
Max Drawdown Largest peak-to-trough decline	-30.82%	-30.81%	-0.01%
Max Drawdown (1Y) Largest decline over 1 year	-5.91%	-5.93%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-10.27%	-10.21%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	-22.08%	-22.04%	-0.04%
Max Drawdown (10Y) Largest decline over 10 years	-30.82%	-30.81%	-0.01%
Current Drawdown Current decline from peak	-0.16%	-0.16%	0.00%
Average Drawdown Average peak-to-trough decline	-3.42%	-3.92%	+0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.77%	1.75%	+0.02%

Volatility

AUEIX vs. QUERX - Volatility Comparison

AQR Large Cap Defensive Style Fund (AUEIX) and AQR Large Cap Defensive Style Fund Class R6 (QUERX) have volatilities of 2.02% and 2.10%, 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

	AUEIX	QUERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.02%	2.10%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	5.58%	5.59%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	7.94%	7.94%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.99%	13.00%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.19%	15.21%	-0.02%

AUEIX vs. QUERX - Expense Ratio Comparison

AUEIX has a 0.37% expense ratio, which is higher than QUERX's 0.31% expense ratio.

Dividends

AUEIX vs. QUERX - Dividend Comparison

AUEIX's dividend yield for the trailing twelve months is around 21.24%, which matches QUERX's 21.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AUEIX AQR Large Cap Defensive Style Fund	21.24%	22.70%	24.31%	24.28%	10.26%	2.54%	1.29%	1.12%	1.67%	2.36%	1.99%	6.18%
QUERX AQR Large Cap Defensive Style Fund Class R6	21.39%	22.86%	24.47%	24.43%	10.37%	2.62%	1.37%	1.18%	1.74%	2.45%	2.06%	6.28%

Frequently Asked Questions

Can I hold both AUEIX and QUERX in my portfolio?

With a correlation of 0.99, AUEIX and QUERX 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, AUEIX or QUERX?

QUERX has higher volatility (2.10%) compared to AUEIX (2.02%). In terms of maximum drawdown, AUEIX dropped -30.82% vs QUERX's -30.81%.

Which has better risk-adjusted returns?

QUERX currently has the higher Sharpe Ratio (1.05 vs 1.04), 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.