BRGOX vs. QMNIX

Last updated Apr 2, 2026

Compare and contrast key facts about Bridgeway Global Opportunities Fund Class N (BRGOX) and AQR Equity Market Neutral Fund Class I (QMNIX).

BRGOX is an actively managed fund by Bridgeway. It was launched on Oct 15, 2024. QMNIX is an actively managed fund by AQR Funds. It was launched on Oct 7, 2014.

Performance

BRGOX vs. QMNIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bridgeway Global Opportunities Fund Class N (BRGOX) and AQR Equity Market Neutral Fund Class I (QMNIX). The values are adjusted to include any dividend payments, if applicable.

BRGOX vs. QMNIX - Yearly Performance Comparison

	2026 (YTD)	2025
BRGOX Bridgeway Global Opportunities Fund Class N	6.35%	14.76%
QMNIX AQR Equity Market Neutral Fund Class I	-3.44%	25.79%

Returns By Period

In the year-to-date period, BRGOX achieves a 6.35% return, which is significantly higher than QMNIX's -3.44% return.

BRGOX

• 1D: 0.18%
• 1M: -1.32%
• YTD: 6.35%
• 6M: 10.90%
• 1Y: 18.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QMNIX

• 1D: -0.08%
• 1M: 0.50%
• YTD: -3.44%
• 6M: 2.09%
• 1Y: 11.09%
• 3Y*: 21.03%
• 5Y*: 18.66%
• 10Y*: 6.34%

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

BRGOX vs. QMNIX - Expense Ratio Comparison

BRGOX has a 1.63% expense ratio, which is lower than QMNIX's 5.48% expense ratio.

QMNIX

AQR Equity Market Neutral Fund Class I

BRGOX

Bridgeway Global Opportunities Fund Class N

Return for Risk

BRGOX vs. QMNIX — Risk / Return Rank

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

BRGOX

BRGOX Risk / Return Rank: 96
BRGOX Sharpe Ratio Rank: 95
BRGOX Sortino Ratio Rank: 97
BRGOX Omega Ratio Rank: 94
BRGOX Calmar Ratio Rank: 98
BRGOX Martin Ratio Rank: 96

QMNIX

QMNIX Risk / Return Rank: 79
QMNIX Sharpe Ratio Rank: 88
QMNIX Sortino Ratio Rank: 88
QMNIX Omega Ratio Rank: 84
QMNIX Calmar Ratio Rank: 83
QMNIX Martin Ratio Rank: 53

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.

BRGOX vs. QMNIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bridgeway Global Opportunities Fund Class N (BRGOX) and AQR Equity Market Neutral Fund Class I (QMNIX). 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.

	BRGOX	QMNIX	Difference
Sharpe ratio Return per unit of total volatility	2.41	1.81	+0.60
Sortino ratio Return per unit of downside risk	3.59	2.46	+1.13
Omega ratio Gain probability vs. loss probability	1.48	1.35	+0.14
Calmar ratio Return relative to maximum drawdown	5.36	2.14	+3.23
Martin ratio Return relative to average drawdown	15.18	5.39	+9.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRGOX vs. QMNIX - Sharpe Ratio Comparison

The current BRGOX Sharpe Ratio is 2.41, which is higher than the QMNIX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of BRGOX and QMNIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BRGOX	QMNIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	1.81	+0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.98	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.26	0.91	+1.35

Correlation

The correlation between BRGOX and QMNIX is 0.32, 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

BRGOX vs. QMNIX - Dividend Comparison

BRGOX's dividend yield for the trailing twelve months is around 10.68%, more than QMNIX's 1.46% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRGOX Bridgeway Global Opportunities Fund Class N	10.68%	11.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QMNIX AQR Equity Market Neutral Fund Class I	1.46%	1.41%	6.10%	21.48%	5.95%	1.39%	17.42%	3.83%	0.48%	3.48%	1.51%	2.57%

Drawdowns

BRGOX vs. QMNIX - Drawdown Comparison

The maximum BRGOX drawdown since its inception was -3.78%, smaller than the maximum QMNIX drawdown of -38.80%. Use the drawdown chart below to compare losses from any high point for BRGOX and QMNIX.

Drawdown Indicators

	BRGOX	QMNIX	Difference
Max Drawdown Largest peak-to-trough decline	-3.78%	-38.80%	+35.02%
Max Drawdown (1Y) Largest decline over 1 year	-3.78%	-5.43%	+1.65%
Max Drawdown (5Y) Largest decline over 5 years	—	-14.05%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.80%	—
Current Drawdown Current decline from peak	-1.92%	-3.75%	+1.83%
Average Drawdown Average peak-to-trough decline	-0.91%	-10.39%	+9.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.34%	2.15%	-0.81%

Volatility

BRGOX vs. QMNIX - Volatility Comparison

Bridgeway Global Opportunities Fund Class N (BRGOX) has a higher volatility of 2.03% compared to AQR Equity Market Neutral Fund Class I (QMNIX) at 1.31%. This indicates that BRGOX's price experiences larger fluctuations and is considered to be riskier than QMNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRGOX	QMNIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.03%	1.31%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	4.56%	4.13%	+0.43%
Volatility (1Y) Calculated over the trailing 1-year period	8.06%	6.31%	+1.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.87%	9.49%	-1.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.87%	8.22%	-0.35%