ETLQ.DE vs. QLEIX

Last updated Jun 5, 2026

ETLQ.DE (L&G Global Equity UCITS ETF) and QLEIX (AQR Long-Short Equity Fund) are both funds - ETLQ.DE is a Global Equities fund tracking the Solactive Core Developed Markets Large & Mid Cap, while QLEIX is a Long-Short fund managed by AQR Funds. Over the past 5 years, ETLQ.DE returned 13.10%/yr vs 22.96%/yr for QLEIX. At a 0.28 correlation, their price movements are largely independent. ETLQ.DE charges 0.10%/yr vs 1.30%/yr for QLEIX.

Performance

ETLQ.DE vs. QLEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in L&G Global Equity UCITS ETF (ETLQ.DE) and AQR Long-Short Equity Fund (QLEIX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ETLQ.DE is traded in EUR, while QLEIX is traded in USD. To make them comparable, the QLEIX values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, ETLQ.DE achieves a 10.88% return, which is significantly higher than QLEIX's 1.52% return.

ETLQ.DE

• 1D: 0.00%
• 1M: 4.96%
• YTD: 10.88%
• 6M: 11.36%
• 1Y: 23.93%
• 3Y*: 17.73%
• 5Y*: 13.10%
• 10Y*: —

QLEIX

• 1D: 0.14%
• 1M: 4.04%
• YTD: 1.52%
• 6M: 4.46%
• 1Y: 14.27%
• 3Y*: 24.31%
• 5Y*: 22.96%
• 10Y*: 11.78%

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

ETLQ.DE vs. QLEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ETLQ.DE L&G Global Equity UCITS ETF	10.88%	8.14%	26.10%	20.83%	-13.64%	32.63%	5.63%	24.59%
QLEIX AQR Long-Short Equity Fund	1.52%	18.48%	39.11%	20.23%	26.56%	40.90%	-21.02%	2.52%

Correlation

The correlation between ETLQ.DE and QLEIX is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jan 17, 2019	0.28

The correlation between ETLQ.DE and QLEIX shifts across timeframes, from 0.21 (5 years) to 0.37 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ETLQ.DE vs. QLEIX — Risk / Return Rank

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

ETLQ.DE

ETLQ.DE Risk / Return Rank: 69
ETLQ.DE Sharpe Ratio Rank: 65
ETLQ.DE Sortino Ratio Rank: 65
ETLQ.DE Omega Ratio Rank: 66
ETLQ.DE Calmar Ratio Rank: 72
ETLQ.DE Martin Ratio Rank: 76

QLEIX

QLEIX Risk / Return Rank: 51
QLEIX Sharpe Ratio Rank: 56
QLEIX Sortino Ratio Rank: 60
QLEIX Omega Ratio Rank: 54
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.

ETLQ.DE vs. QLEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Global Equity UCITS ETF (ETLQ.DE) 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.

	ETLQ.DE	QLEIX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	1.49	+0.64
Sortino ratio: Return per unit of downside risk	2.98	2.16	+0.83
Omega ratio: Gain probability vs. loss probability	1.39	1.26	+0.13
Calmar ratio: Return relative to maximum drawdown	3.56	2.17	+1.39
Martin ratio: Return relative to average drawdown	14.23	6.58	+7.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETLQ.DE vs. QLEIX - Sharpe Ratio Comparison

The current ETLQ.DE Sharpe Ratio is 2.13, which is higher than the QLEIX Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of ETLQ.DE and QLEIX, 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

	ETLQ.DE	QLEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	1.49	+0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	1.94	-1.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	1.04	-0.11

Drawdowns

ETLQ.DE vs. QLEIX - Drawdown Comparison

The maximum ETLQ.DE drawdown since its inception was -33.38%, roughly equal to the maximum QLEIX drawdown of -32.20%. Use the drawdown chart below to compare losses from any high point for ETLQ.DE and QLEIX.

Drawdown Indicators

	ETLQ.DE	QLEIX	Difference
Max Drawdown Largest peak-to-trough decline	-33.38%	-32.20%	-1.18%
Max Drawdown (1Y) Largest decline over 1 year	-6.68%	-6.31%	-0.37%
Max Drawdown (3Y) Largest decline over 3 years	-21.58%	-11.65%	-9.93%
Max Drawdown (5Y) Largest decline over 5 years	-21.58%	-11.65%	-9.93%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.20%	—
Current Drawdown Current decline from peak	-0.34%	-0.02%	-0.32%
Average Drawdown Average peak-to-trough decline	-4.33%	-6.83%	+2.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	2.10%	-0.42%

Volatility

ETLQ.DE vs. QLEIX - Volatility Comparison

L&G Global Equity UCITS ETF (ETLQ.DE) has a higher volatility of 2.68% compared to AQR Long-Short Equity Fund (QLEIX) at 2.29%. This indicates that ETLQ.DE's price experiences larger fluctuations and is considered to be riskier than QLEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETLQ.DE	QLEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.68%	2.29%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	7.77%	6.72%	+1.05%
Volatility (1Y) Calculated over the trailing 1-year period	11.18%	9.21%	+1.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.06%	11.91%	+2.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.74%	12.21%	+3.53%

ETLQ.DE vs. QLEIX - Expense Ratio Comparison

ETLQ.DE has a 0.10% expense ratio, which is lower than QLEIX's 1.30% expense ratio.

Dividends

ETLQ.DE vs. QLEIX - Dividend Comparison

ETLQ.DE has not paid dividends to shareholders, while QLEIX's dividend yield for the trailing twelve months is around 1.75%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ETLQ.DE L&G Global Equity UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QLEIX AQR Long-Short Equity Fund	1.75%	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 ETLQ.DE and QLEIX in my portfolio?

ETLQ.DE and QLEIX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.