ICSIX vs. QDSNX

Last updated Aug 4, 2026

ICSIX (Dynamic U.S. Opportunity Fund) and QDSNX (AQR Diversifying Strategies Fund Class N) are both Tactical Allocation funds. Over the past 5 years, ICSIX returned 8.21%/yr vs 11.04%/yr for QDSNX. Their 0.22 correlation means their historical movements had little consistent relationship. ICSIX charges 1.24%/yr vs 3.30%/yr for QDSNX.

Performance

ICSIX vs. QDSNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dynamic U.S. Opportunity Fund (ICSIX) and AQR Diversifying Strategies Fund Class N (QDSNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with ICSIX having a 5.39% return and QDSNX slightly higher at 5.52%.

ICSIX

• 1D: 0.41%
• 1M: -0.88%
• 6M: 3.31%
• YTD: 5.39%
• 1Y: 13.74%
• 3Y*: 10.91%
• 5Y*: 8.21%
• 10Y*: 10.66%
• ALL TIME*: 8.33%

QDSNX

• 1D: 0.14%
• 1M: 2.36%
• 6M: 3.37%
• YTD: 5.52%
• 1Y: 13.74%
• 3Y*: 11.92%
• 5Y*: 11.04%
• 10Y*: —
• ALL TIME*: 11.42%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ICSIX Dynamic U.S. Opportunity Fund	$0.00	$0.00	$0.00
QDSNX AQR Diversifying Strategies Fund Class N	$0.00	$0.00	$0.00

ICSIX vs. QDSNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ICSIX Dynamic U.S. Opportunity Fund	5.39%	16.41%	8.16%	16.05%	-7.52%	16.14%	11.60%
QDSNX AQR Diversifying Strategies Fund Class N	5.52%	16.14%	9.56%	8.62%	14.48%	10.35%	5.40%

Correlation

The correlation between ICSIX and QDSNX is 0.43, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.43
Correlation (3Y) Balances recent behavior with more history.	0.32
Correlation (5Y) Shows whether the relationship held over a longer period.	0.15
Correlation (All Time) Calculated using the full available price history since Jun 10, 2020	0.22

Over the past year, ICSIX and QDSNX have become more correlated (0.43) than their long-term average of 0.22, meaning their price movements have been converging.

Return for Risk

ICSIX vs. QDSNX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ICSIX

ICSIX Risk / Return Rank: 37
ICSIX Sharpe Ratio Rank: 33
ICSIX Sortino Ratio Rank: 31
ICSIX Omega Ratio Rank: 31
ICSIX Calmar Ratio Rank: 41
ICSIX Martin Ratio Rank: 48

QDSNX

QDSNX Risk / Return Rank: 92
QDSNX Sharpe Ratio Rank: 94
QDSNX Sortino Ratio Rank: 93
QDSNX Omega Ratio Rank: 89
QDSNX Calmar Ratio Rank: 95
QDSNX Martin Ratio Rank: 92

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ICSIX vs. QDSNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dynamic U.S. Opportunity Fund (ICSIX) and AQR Diversifying Strategies Fund Class N (QDSNX). 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.

	ICSIX	QDSNX	Difference
Sharpe ratio: Return per unit of total volatility	1.15	2.47	-1.31
Sortino ratio: Return per unit of downside risk	1.62	3.65	-2.03
Omega ratio: Gain probability vs. loss probability	1.20	1.46	-0.26
Calmar ratio: Return relative to maximum drawdown	1.81	4.23	-2.42
Martin ratio: Return relative to average drawdown	7.31	13.85	-6.55

ICSIX vs. QDSNX - Sharpe Ratio Comparison

The current ICSIX Sharpe Ratio is 1.15, which is lower than the QDSNX Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of ICSIX and QDSNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ICSIX vs. QDSNX - Drawdown Comparison

The maximum ICSIX drawdown since its inception was -25.63%, which is greater than QDSNX's maximum drawdown of -7.15%. Use the drawdown chart below to compare losses from any high point for ICSIX and QDSNX.

Drawdown Indicators

	ICSIX	QDSNX	Difference
Max Drawdown Largest peak-to-trough decline	-25.63%	-7.15%	-18.48%
Max Drawdown (1Y) Largest decline over 1 year	-6.73%	-3.10%	-3.63%
Max Drawdown (3Y) Largest decline over 3 years	-24.90%	-6.93%	-17.97%
Max Drawdown (5Y) Largest decline over 5 years	-24.90%	-7.15%	-17.75%
Max Drawdown (10Y) Largest decline over 10 years	-25.63%	—	—
Current Drawdown Current decline from peak	-1.34%	-0.81%	-0.53%
Average Drawdown Average peak-to-trough decline	-3.21%	-1.46%	-1.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	0.94%	+0.73%

Volatility

ICSIX vs. QDSNX - Volatility Comparison

Dynamic U.S. Opportunity Fund (ICSIX) has a higher volatility of 2.33% compared to AQR Diversifying Strategies Fund Class N (QDSNX) at 1.83%. This indicates that ICSIX's price experiences larger fluctuations and is considered to be riskier than QDSNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICSIX	QDSNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.33%	1.83%	+0.50%
Volatility (6M) Calculated over the trailing 6-month period	7.75%	3.96%	+3.79%
Volatility (1Y) Calculated over the trailing 1-year period	10.61%	5.32%	+5.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.51%	7.63%	+8.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.58%	7.28%	+8.30%

ICSIX vs. QDSNX - Expense Ratio Comparison

ICSIX has a 1.24% expense ratio, which is lower than QDSNX's 3.30% expense ratio.

Dividends

ICSIX vs. QDSNX - Dividend Comparison

ICSIX's dividend yield for the trailing twelve months is around 18.16%, more than QDSNX's 1.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICSIX Dynamic U.S. Opportunity Fund	18.16%	19.13%	19.10%	0.97%	2.55%	5.47%	5.78%	0.49%	12.55%	2.50%	4.76%	2.22%
QDSNX AQR Diversifying Strategies Fund Class N	1.89%	1.99%	0.00%	11.18%	8.01%	5.99%	1.83%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ICSIX and QDSNX in my portfolio?

ICSIX and QDSNX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICSIX or QDSNX?

ICSIX has higher volatility (2.33%) compared to QDSNX (1.83%). In terms of maximum drawdown, ICSIX dropped -25.63% vs QDSNX's -7.15%.

Which has better risk-adjusted returns?

QDSNX currently has the higher Sharpe Ratio (2.47 vs 1.15), 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.