JAKVX vs. QLEIX

Last updated Aug 1, 2026

JAKVX (John Hancock Disciplined Value Global Long/Short Fund Class R6) and QLEIX (AQR Long-Short Equity Fund) are both Long-Short funds. Both are actively managed. Over the past year, JAKVX returned 23.14% vs 16.21% for QLEIX. Their 0.33 correlation means their historical movements had little consistent relationship. JAKVX charges 1.54%/yr vs 1.30%/yr for QLEIX.

Performance

JAKVX vs. QLEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Disciplined Value Global Long/Short Fund Class R6 (JAKVX) and AQR Long-Short Equity Fund (QLEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JAKVX achieves a 12.74% return, which is significantly higher than QLEIX's 0.43% return.

JAKVX

• 1D: 0.89%
• 1M: 1.74%
• 6M: 6.96%
• YTD: 12.74%
• 1Y: 23.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 24.96%

QLEIX

• 1D: 2.11%
• 1M: 4.63%
• 6M: 1.63%
• YTD: 0.43%
• 1Y: 16.21%
• 3Y*: 24.57%
• 5Y*: 22.95%
• 10Y*: 11.74%
• ALL TIME*: 11.73%

*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)
JAKVX John Hancock Disciplined Value Global Long/Short Fund Class R6	$0.00	$0.00	$0.00
QLEIX AQR Long-Short Equity Fund	$0.00	$0.00	$0.00

JAKVX vs. QLEIX - Yearly Performance Comparison

	2026 (YTD)	2025
JAKVX John Hancock Disciplined Value Global Long/Short Fund Class R6	12.74%	17.29%
QLEIX AQR Long-Short Equity Fund	0.43%	23.06%

Correlation

The correlation between JAKVX and QLEIX is 0.36, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.36
Correlation (All Time) Calculated using the full available price history since Apr 28, 2025	0.33

Return for Risk

JAKVX vs. QLEIX — Risk / Return Rank

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

JAKVX

JAKVX Risk / Return Rank: 94
JAKVX Sharpe Ratio Rank: 97
JAKVX Sortino Ratio Rank: 95
JAKVX Omega Ratio Rank: 93
JAKVX Calmar Ratio Rank: 95
JAKVX Martin Ratio Rank: 91

QLEIX

QLEIX Risk / Return Rank: 78
QLEIX Sharpe Ratio Rank: 83
QLEIX Sortino Ratio Rank: 84
QLEIX Omega Ratio Rank: 81
QLEIX Calmar Ratio Rank: 81
QLEIX Martin Ratio Rank: 60

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.

JAKVX vs. QLEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Disciplined Value Global Long/Short Fund Class R6 (JAKVX) 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.

	JAKVX	QLEIX	Difference
Sharpe ratio: Return per unit of total volatility	2.78	1.96	+0.82
Sortino ratio: Return per unit of downside risk	3.93	2.93	+1.00
Omega ratio: Gain probability vs. loss probability	1.54	1.36	+0.18
Calmar ratio: Return relative to maximum drawdown	4.27	2.65	+1.62
Martin ratio: Return relative to average drawdown	12.85	7.54	+5.31

JAKVX vs. QLEIX - Sharpe Ratio Comparison

The current JAKVX Sharpe Ratio is 2.78, which is higher than the QLEIX Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of JAKVX 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.

Drawdowns

JAKVX vs. QLEIX - Drawdown Comparison

The maximum JAKVX drawdown since its inception was -5.16%, smaller than the maximum QLEIX drawdown of -38.11%. Use the drawdown chart below to compare losses from any high point for JAKVX and QLEIX.

Drawdown Indicators

	JAKVX	QLEIX	Difference
Max Drawdown Largest peak-to-trough decline	-5.16%	-38.11%	+32.95%
Max Drawdown (1Y) Largest decline over 1 year	-5.16%	-6.01%	+0.85%
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	-1.14%	-0.19%	-0.95%
Average Drawdown Average peak-to-trough decline	-0.99%	-7.66%	+6.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	2.10%	-0.39%

Volatility

JAKVX vs. QLEIX - Volatility Comparison

The current volatility for John Hancock Disciplined Value Global Long/Short Fund Class R6 (JAKVX) is 1.85%, while AQR Long-Short Equity Fund (QLEIX) has a volatility of 3.44%. This indicates that JAKVX experiences smaller price fluctuations and is considered to be less risky than QLEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JAKVX	QLEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.85%	3.44%	-1.59%
Volatility (6M) Calculated over the trailing 6-month period	6.37%	6.70%	-0.33%
Volatility (1Y) Calculated over the trailing 1-year period	7.92%	8.12%	-0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.48%	10.03%	-2.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.48%	10.60%	-3.12%

JAKVX vs. QLEIX - Expense Ratio Comparison

JAKVX has a 1.54% expense ratio, which is higher than QLEIX's 1.30% expense ratio.

Dividends

JAKVX vs. QLEIX - Dividend Comparison

JAKVX's dividend yield for the trailing twelve months is around 7.52%, more than QLEIX's 1.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JAKVX John Hancock Disciplined Value Global Long/Short Fund Class R6	7.52%	8.47%	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	1.74%	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 JAKVX and QLEIX in my portfolio?

JAKVX and QLEIX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JAKVX or QLEIX?

QLEIX has higher volatility (3.44%) compared to JAKVX (1.85%). In terms of maximum drawdown, JAKVX dropped -5.16% vs QLEIX's -38.11%.

Which has better risk-adjusted returns?

JAKVX currently has the higher Sharpe Ratio (2.78 vs 1.96), 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.