CDAZX vs. QLFRX

Last updated Jun 4, 2026

CDAZX (Multi-Manager Directional Alternative Strategies Fund) and QLFRX (AQR LSE Fusion Fund Class R6) are both Long-Short funds. A 0.57 correlation means they provide meaningful diversification when combined. CDAZX charges 1.84%/yr vs 6.20%/yr for QLFRX.

Performance

CDAZX vs. QLFRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Multi-Manager Directional Alternative Strategies Fund (CDAZX) and AQR LSE Fusion Fund Class R6 (QLFRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CDAZX achieves a 8.42% return, which is significantly higher than QLFRX's 0.58% return.

CDAZX

• 1D: -0.13%
• 1M: 5.46%
• YTD: 8.42%
• 6M: 7.86%
• 1Y: 25.48%
• 3Y*: 18.36%
• 5Y*: 11.00%
• 10Y*: —

QLFRX

• 1D: -0.25%
• 1M: 6.61%
• YTD: 0.58%
• 6M: 4.10%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CDAZX vs. QLFRX - Yearly Performance Comparison

	2026 (YTD)	2025
CDAZX Multi-Manager Directional Alternative Strategies Fund	8.42%	3.96%
QLFRX AQR LSE Fusion Fund Class R6	0.58%	6.80%

Correlation

The correlation between CDAZX and QLFRX is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 7, 2025	0.57

Return for Risk

CDAZX vs. QLFRX — Risk / Return Rank

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

CDAZX

CDAZX Risk / Return Rank: 77
CDAZX Sharpe Ratio Rank: 83
CDAZX Sortino Ratio Rank: 81
CDAZX Omega Ratio Rank: 78
CDAZX Calmar Ratio Rank: 77
CDAZX Martin Ratio Rank: 67

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.

CDAZX vs. QLFRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Multi-Manager Directional Alternative Strategies Fund (CDAZX) and AQR LSE Fusion Fund Class R6 (QLFRX). 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.

	CDAZX	QLFRX	Difference
Sharpe ratio: Return per unit of total volatility	2.70	—	—
Sortino ratio: Return per unit of downside risk	3.84	—	—
Omega ratio: Gain probability vs. loss probability	1.51	—	—
Calmar ratio: Return relative to maximum drawdown	3.48	—	—
Martin ratio: Return relative to average drawdown	13.00	—	—
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

	CDAZX	QLFRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.20	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.90	-0.18

Drawdowns

CDAZX vs. QLFRX - Drawdown Comparison

The maximum CDAZX drawdown since its inception was -30.94%, which is greater than QLFRX's maximum drawdown of -14.53%. Use the drawdown chart below to compare losses from any high point for CDAZX and QLFRX.

Drawdown Indicators

	CDAZX	QLFRX	Difference
Max Drawdown Largest peak-to-trough decline	-30.94%	-14.53%	-16.41%
Max Drawdown (1Y) Largest decline over 1 year	-7.32%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-8.54%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-10.91%	—	—
Current Drawdown Current decline from peak	-0.13%	-0.66%	+0.53%
Average Drawdown Average peak-to-trough decline	-6.14%	-5.67%	-0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	—	—

Volatility

Volatility by Period

	CDAZX	QLFRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.38%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.45%	15.89%	-6.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.20%	15.89%	-6.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.04%	15.89%	-5.85%

CDAZX vs. QLFRX - Expense Ratio Comparison

CDAZX has a 1.84% expense ratio, which is lower than QLFRX's 6.20% expense ratio.

Dividends

CDAZX vs. QLFRX - Dividend Comparison

CDAZX's dividend yield for the trailing twelve months is around 21.47%, more than QLFRX's 0.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CDAZX Multi-Manager Directional Alternative Strategies Fund	21.47%	23.28%	10.21%	1.58%	11.48%	6.28%	0.00%	0.79%	50.33%	3.97%
QLFRX AQR LSE Fusion Fund Class R6	0.22%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CDAZX and QLFRX in my portfolio?

CDAZX and QLFRX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.