DESGX vs. QCELX

Last updated Jun 5, 2026

DESGX (DWS ESG Core Equity Fund) and QCELX (AQR Large Cap Multi-Style Fund) are both Large Cap Blend Equities funds. Over the past 10 years, DESGX returned 13.33%/yr vs 15.11%/yr for QCELX. Their correlation of 0.93 suggests significant overlap in exposure. DESGX charges 0.64%/yr vs 0.41%/yr for QCELX.

Performance

DESGX vs. QCELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DWS ESG Core Equity Fund (DESGX) and AQR Large Cap Multi-Style Fund (QCELX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DESGX achieves a 13.71% return, which is significantly lower than QCELX's 17.15% return. Over the past 10 years, DESGX has underperformed QCELX with an annualized return of 13.33%, while QCELX has yielded a comparatively higher 15.11% annualized return.

DESGX

• 1D: -0.85%
• 1M: 4.85%
• YTD: 13.71%
• 6M: 14.01%
• 1Y: 36.47%
• 3Y*: 23.11%
• 5Y*: 14.99%
• 10Y*: 13.33%

QCELX

• 1D: -0.80%
• 1M: 4.85%
• YTD: 17.15%
• 6M: 18.57%
• 1Y: 37.68%
• 3Y*: 27.14%
• 5Y*: 15.79%
• 10Y*: 15.11%

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

DESGX vs. QCELX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DESGX DWS ESG Core Equity Fund	13.71%	18.92%	23.55%	26.68%	-15.56%	28.99%	19.13%	28.18%	-17.30%	13.02%
QCELX AQR Large Cap Multi-Style Fund	17.15%	23.38%	22.73%	26.30%	-15.73%	27.18%	14.93%	24.33%	-10.96%	22.73%

Correlation

The correlation between DESGX and QCELX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.93

The correlation between DESGX and QCELX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

DESGX vs. QCELX — Risk / Return Rank

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

DESGX

DESGX Risk / Return Rank: 86
DESGX Sharpe Ratio Rank: 89
DESGX Sortino Ratio Rank: 84
DESGX Omega Ratio Rank: 80
DESGX Calmar Ratio Rank: 85
DESGX Martin Ratio Rank: 91

QCELX

QCELX Risk / Return Rank: 87
QCELX Sharpe Ratio Rank: 89
QCELX Sortino Ratio Rank: 83
QCELX Omega Ratio Rank: 79
QCELX Calmar Ratio Rank: 91
QCELX Martin Ratio Rank: 95

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.

DESGX vs. QCELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DWS ESG Core Equity Fund (DESGX) and AQR Large Cap Multi-Style Fund (QCELX). 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.

	DESGX	QCELX	Difference
Sharpe ratio: Return per unit of total volatility	2.89	2.93	-0.04
Sortino ratio: Return per unit of downside risk	3.99	4.00	0.00
Omega ratio: Gain probability vs. loss probability	1.52	1.52	0.00
Calmar ratio: Return relative to maximum drawdown	3.92	4.73	-0.80
Martin ratio: Return relative to average drawdown	18.10	21.72	-3.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DESGX vs. QCELX - Sharpe Ratio Comparison

The current DESGX Sharpe Ratio is 2.89, which is comparable to the QCELX Sharpe Ratio of 2.93. The chart below compares the historical Sharpe Ratios of DESGX and QCELX, 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

	DESGX	QCELX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.89	2.93	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	0.84	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.80	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.72	-0.19

Drawdowns

DESGX vs. QCELX - Drawdown Comparison

The maximum DESGX drawdown since its inception was -58.26%, which is greater than QCELX's maximum drawdown of -33.52%. Use the drawdown chart below to compare losses from any high point for DESGX and QCELX.

Drawdown Indicators

	DESGX	QCELX	Difference
Max Drawdown Largest peak-to-trough decline	-58.26%	-33.52%	-24.74%
Max Drawdown (1Y) Largest decline over 1 year	-9.38%	-7.92%	-1.46%
Max Drawdown (3Y) Largest decline over 3 years	-21.26%	-18.38%	-2.88%
Max Drawdown (5Y) Largest decline over 5 years	-22.01%	-28.70%	+6.69%
Max Drawdown (10Y) Largest decline over 10 years	-34.68%	-33.52%	-1.16%
Current Drawdown Current decline from peak	-0.88%	-1.05%	+0.17%
Average Drawdown Average peak-to-trough decline	-8.11%	-5.65%	-2.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	1.72%	+0.31%

Volatility

DESGX vs. QCELX - Volatility Comparison

DWS ESG Core Equity Fund (DESGX) has a higher volatility of 3.73% compared to AQR Large Cap Multi-Style Fund (QCELX) at 3.22%. This indicates that DESGX's price experiences larger fluctuations and is considered to be riskier than QCELX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DESGX	QCELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	3.22%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	9.82%	9.37%	+0.45%
Volatility (1Y) Calculated over the trailing 1-year period	12.75%	12.78%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.18%	18.93%	-1.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.23%	18.97%	-0.74%

DESGX vs. QCELX - Expense Ratio Comparison

DESGX has a 0.64% expense ratio, which is higher than QCELX's 0.41% expense ratio.

Dividends

DESGX vs. QCELX - Dividend Comparison

DESGX's dividend yield for the trailing twelve months is around 5.07%, less than QCELX's 12.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DESGX DWS ESG Core Equity Fund	5.07%	5.76%	7.94%	2.80%	4.21%	12.80%	4.06%	7.61%	21.12%	3.53%	6.49%	7.25%
QCELX AQR Large Cap Multi-Style Fund	12.29%	14.40%	12.89%	13.67%	11.05%	12.41%	9.94%	5.36%	7.81%	0.99%	1.28%	0.89%

Frequently Asked Questions

Can I hold both DESGX and QCELX in my portfolio?

With a correlation of 0.92, DESGX and QCELX 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, DESGX or QCELX?

DESGX has higher volatility (3.73%) compared to QCELX (3.22%). In terms of maximum drawdown, DESGX dropped -58.26% vs QCELX's -33.52%.

Which has better risk-adjusted returns?

QCELX currently has the higher Sharpe Ratio (2.93 vs 2.89), 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.