CSAAX vs. QMHNX
Compare and contrast key facts about Manteio Managed Futures Fund A (CSAAX) and AQR Managed Futures Strategy HV Fund Class N (QMHNX).
CSAAX is an actively managed fund by Investment Managers Series Trust III. It was launched on Sep 28, 2012. QMHNX is an actively managed fund by AQR. It was launched on Jul 16, 2013.
Performance
CSAAX vs. QMHNX - Performance Comparison
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CSAAX vs. QMHNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSAAX Manteio Managed Futures Fund A | 2.61% | -6.15% | -5.81% | -6.29% | 20.93% | 7.18% | 1.57% | -4.58% | -4.32% | -1.57% |
QMHNX AQR Managed Futures Strategy HV Fund Class N | 14.53% | 19.65% | 10.48% | -0.40% | 49.64% | -2.30% | -0.85% | 1.55% | -14.59% | -2.06% |
Returns By Period
In the year-to-date period, CSAAX achieves a 2.61% return, which is significantly lower than QMHNX's 14.53% return. Over the past 10 years, CSAAX has underperformed QMHNX with an annualized return of -0.09%, while QMHNX has yielded a comparatively higher 4.76% annualized return.
CSAAX
- 1D
- -0.63%
- 1M
- -3.25%
- YTD
- 2.61%
- 6M
- 6.53%
- 1Y
- -4.27%
- 3Y*
- -3.91%
- 5Y*
- 0.49%
- 10Y*
- -0.09%
QMHNX
- 1D
- -0.61%
- 1M
- 2.90%
- YTD
- 14.53%
- 6M
- 18.99%
- 1Y
- 27.38%
- 3Y*
- 17.74%
- 5Y*
- 16.11%
- 10Y*
- 4.76%
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CSAAX vs. QMHNX - Expense Ratio Comparison
CSAAX has a 1.58% expense ratio, which is lower than QMHNX's 4.12% expense ratio.
Return for Risk
CSAAX vs. QMHNX — Risk / Return Rank
CSAAX
QMHNX
CSAAX vs. QMHNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manteio Managed Futures Fund A (CSAAX) and AQR Managed Futures Strategy HV Fund Class N (QMHNX). 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.
| CSAAX | QMHNX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.40 | 1.98 | -2.39 |
Sortino ratioReturn per unit of downside risk | -0.43 | 2.42 | -2.85 |
Omega ratioGain probability vs. loss probability | 0.93 | 1.36 | -0.42 |
Calmar ratioReturn relative to maximum drawdown | -0.34 | 3.23 | -3.57 |
Martin ratioReturn relative to average drawdown | -0.48 | 8.58 | -9.06 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CSAAX | QMHNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.40 | 1.98 | -2.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.94 | -0.89 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.01 | 0.31 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.36 | -0.14 |
Correlation
The correlation between CSAAX and QMHNX is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
CSAAX vs. QMHNX - Dividend Comparison
CSAAX's dividend yield for the trailing twelve months is around 2.74%, more than QMHNX's 1.65% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSAAX Manteio Managed Futures Fund A | 2.74% | 2.13% | 1.76% | 0.27% | 18.83% | 8.69% | 0.00% | 1.51% | 0.00% | 0.00% | 2.66% | 8.46% |
QMHNX AQR Managed Futures Strategy HV Fund Class N | 1.65% | 1.89% | 2.09% | 7.36% | 8.75% | 10.64% | 7.79% | 3.80% | 0.00% | 0.00% | 0.01% | 7.47% |
Drawdowns
CSAAX vs. QMHNX - Drawdown Comparison
The maximum CSAAX drawdown since its inception was -29.18%, smaller than the maximum QMHNX drawdown of -40.29%. Use the drawdown chart below to compare losses from any high point for CSAAX and QMHNX.
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Drawdown Indicators
| CSAAX | QMHNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.18% | -40.29% | +11.11% |
Max Drawdown (1Y)Largest decline over 1 year | -13.92% | -8.40% | -5.52% |
Max Drawdown (5Y)Largest decline over 5 years | -29.18% | -19.23% | -9.95% |
Max Drawdown (10Y)Largest decline over 10 years | -29.18% | -35.34% | +6.16% |
Current DrawdownCurrent decline from peak | -21.06% | -0.61% | -20.45% |
Average DrawdownAverage peak-to-trough decline | -10.55% | -18.52% | +7.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.55% | 3.16% | +7.39% |
Volatility
CSAAX vs. QMHNX - Volatility Comparison
Manteio Managed Futures Fund A (CSAAX) has a higher volatility of 4.60% compared to AQR Managed Futures Strategy HV Fund Class N (QMHNX) at 3.99%. This indicates that CSAAX's price experiences larger fluctuations and is considered to be riskier than QMHNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSAAX | QMHNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 3.99% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 10.05% | 9.96% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.56% | 14.18% | -1.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.39% | 17.21% | -6.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.02% | 15.46% | -5.44% |