EQLS vs. QLEIX

Last updated Jun 23, 2026

EQLS (Simplify Market Neutral Equity Long/Short ETF) and QLEIX (AQR Long-Short Equity Fund) are both Long-Short funds. Both are actively managed. At a 0.22 correlation, their price movements are largely independent. EQLS charges 1.00%/yr vs 1.30%/yr for QLEIX.

Performance

EQLS vs. QLEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Market Neutral Equity Long/Short ETF (EQLS) and AQR Long-Short Equity Fund (QLEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EQLS

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QLEIX

• 1D: -0.28%
• 1M: 0.96%
• YTD: -0.71%
• 6M: -1.18%
• 1Y: 15.59%
• 3Y*: 25.93%
• 5Y*: 23.53%
• 10Y*: 12.00%

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

EQLS vs. QLEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	6.82%	-4.82%	-3.67%
QLEIX AQR Long-Short Equity Fund	-0.71%	34.43%	30.50%	15.39%

Correlation

The correlation between EQLS and QLEIX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (All Time) Calculated using the full available price history since Jun 14, 2023	0.22

Return for Risk

EQLS vs. QLEIX — Risk / Return Rank

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

EQLS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

QLEIX

QLEIX Risk / Return Rank: 53
QLEIX Sharpe Ratio Rank: 58
QLEIX Sortino Ratio Rank: 63
QLEIX Omega Ratio Rank: 56
QLEIX Calmar Ratio Rank: 48
QLEIX Martin Ratio Rank: 38

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.

EQLS vs. QLEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Market Neutral Equity Long/Short ETF (EQLS) and AQR Long-Short Equity Fund (QLEIX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EQLS	QLEIX	Difference
Sharpe ratio: Return per unit of total volatility	—	2.06	—
Sortino ratio: Return per unit of downside risk	—	3.02	—
Omega ratio: Gain probability vs. loss probability	—	1.38	—
Calmar ratio: Return relative to maximum drawdown	—	2.53	—
Martin ratio: Return relative to average drawdown	—	7.87	—

Drawdowns

Drawdown Indicators

	EQLS	QLEIX	Difference
Max Drawdown Largest peak-to-trough decline	—	-38.11%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-6.01%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-7.07%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.07%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.11%	—
Current Drawdown Current decline from peak	—	-1.32%	—
Average Drawdown Average peak-to-trough decline	—	-7.70%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.93%	—

Volatility

Volatility by Period

	EQLS	QLEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.82%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.76%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	7.37%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	10.02%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	10.59%	—

EQLS vs. QLEIX - Expense Ratio Comparison

EQLS has a 1.00% expense ratio, which is lower than QLEIX's 1.30% expense ratio.

Dividends

EQLS vs. QLEIX - Dividend Comparison

EQLS has not paid dividends to shareholders, while QLEIX's dividend yield for the trailing twelve months is around 1.76%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	0.45%	0.95%	8.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QLEIX AQR Long-Short Equity Fund	1.76%	1.75%	7.12%	20.88%	14.15%	0.00%	1.57%	0.00%	6.03%	9.11%	3.01%	4.98%

Frequently Asked Questions

Can I hold both EQLS and QLEIX in my portfolio?

EQLS and QLEIX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.