IEF vs. QDSNX

Last updated Jun 9, 2026

IEF (iShares 7-10 Year Treasury Bond ETF) and QDSNX (AQR Diversifying Strategies Fund Class N) are both funds - IEF is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while QDSNX is a Tactical Allocation fund actively managed by AQR Funds. IEF is passively managed, while QDSNX is actively managed. Over the past 5 years, IEF returned -1.34%/yr vs 10.67%/yr for QDSNX. At a correlation of -0.09, they often move in opposite directions. IEF charges 0.15%/yr vs 3.30%/yr for QDSNX.

Performance

IEF vs. QDSNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 7-10 Year Treasury Bond ETF (IEF) and AQR Diversifying Strategies Fund Class N (QDSNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IEF achieves a -1.16% return, which is significantly lower than QDSNX's 5.44% return.

IEF

• 1D: -0.11%
• 1M: -1.19%
• YTD: -1.16%
• 6M: -0.96%
• 1Y: 3.91%
• 3Y*: 2.43%
• 5Y*: -1.34%
• 10Y*: 0.53%

QDSNX

• 1D: -0.61%
• 1M: 0.55%
• YTD: 5.44%
• 6M: 7.09%
• 1Y: 14.00%
• 3Y*: 13.28%
• 5Y*: 10.67%
• 10Y*: —

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

IEF vs. QDSNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IEF iShares 7-10 Year Treasury Bond ETF	-1.16%	8.03%	-0.63%	3.64%	-15.15%	-3.33%	-0.56%
QDSNX AQR Diversifying Strategies Fund Class N	5.44%	16.14%	9.56%	8.62%	14.48%	10.35%	5.40%

Correlation

The correlation between IEF and QDSNX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	-0.11
Correlation (All Time) Calculated using the full available price history since Jun 11, 2020	-0.09

The correlation between IEF and QDSNX shifts across timeframes, from -0.11 (5 years) to 0.12 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

IEF vs. QDSNX — Risk / Return Rank

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

IEF

IEF Risk / Return Rank: 24
IEF Sharpe Ratio Rank: 26
IEF Sortino Ratio Rank: 25
IEF Omega Ratio Rank: 23
IEF Calmar Ratio Rank: 23
IEF Martin Ratio Rank: 23

QDSNX

QDSNX Risk / Return Rank: 90
QDSNX Sharpe Ratio Rank: 88
QDSNX Sortino Ratio Rank: 89
QDSNX Omega Ratio Rank: 83
QDSNX Calmar Ratio Rank: 97
QDSNX Martin Ratio Rank: 94

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.

IEF vs. QDSNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 7-10 Year Treasury Bond ETF (IEF) 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.

	IEF	QDSNX	Difference
Sharpe ratio: Return per unit of total volatility	0.84	2.79	-1.95
Sortino ratio: Return per unit of downside risk	1.26	4.16	-2.89
Omega ratio: Gain probability vs. loss probability	1.14	1.53	-0.39
Calmar ratio: Return relative to maximum drawdown	0.96	7.11	-6.14
Martin ratio: Return relative to average drawdown	2.79	20.51	-17.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEF vs. QDSNX - Sharpe Ratio Comparison

The current IEF Sharpe Ratio is 0.84, which is lower than the QDSNX Sharpe Ratio of 2.79. The chart below compares the historical Sharpe Ratios of IEF 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.

Sharpe Ratios by Period

	IEF	QDSNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.84	2.79	-1.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.17	1.40	-1.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	1.61	-1.11

Drawdowns

IEF vs. QDSNX - Drawdown Comparison

The maximum IEF drawdown since its inception was -23.93%, which is greater than QDSNX's maximum drawdown of -7.15%. Use the drawdown chart below to compare losses from any high point for IEF and QDSNX.

Drawdown Indicators

	IEF	QDSNX	Difference
Max Drawdown Largest peak-to-trough decline	-23.93%	-7.15%	-16.78%
Max Drawdown (1Y) Largest decline over 1 year	-4.07%	-1.97%	-2.10%
Max Drawdown (3Y) Largest decline over 3 years	-7.74%	-6.93%	-0.81%
Max Drawdown (5Y) Largest decline over 5 years	-21.40%	-7.15%	-14.25%
Max Drawdown (10Y) Largest decline over 10 years	-23.93%	—	—
Current Drawdown Current decline from peak	-11.80%	-0.88%	-10.92%
Average Drawdown Average peak-to-trough decline	-5.35%	-1.45%	-3.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.40%	0.68%	+0.72%

Volatility

IEF vs. QDSNX - Volatility Comparison

iShares 7-10 Year Treasury Bond ETF (IEF) and AQR Diversifying Strategies Fund Class N (QDSNX) have volatilities of 1.51% and 1.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEF	QDSNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.51%	1.55%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	3.36%	3.61%	-0.25%
Volatility (1Y) Calculated over the trailing 1-year period	4.69%	5.02%	-0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.71%	7.63%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.63%	7.31%	-0.68%

IEF vs. QDSNX - Expense Ratio Comparison

IEF has a 0.15% expense ratio, which is lower than QDSNX's 3.30% expense ratio.

Dividends

IEF vs. QDSNX - Dividend Comparison

IEF's dividend yield for the trailing twelve months is around 3.92%, more than QDSNX's 1.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEF iShares 7-10 Year Treasury Bond ETF	3.92%	3.77%	3.62%	2.91%	1.96%	0.83%	1.08%	2.08%	2.24%	1.82%	1.81%	1.90%
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 IEF and QDSNX in my portfolio?

IEF and QDSNX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IEF or QDSNX?

QDSNX has higher volatility (1.55%) compared to IEF (1.51%). In terms of maximum drawdown, IEF dropped -23.93% vs QDSNX's -7.15%.

Which has better risk-adjusted returns?

QDSNX currently has the higher Sharpe Ratio (2.79 vs 0.84), 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.