JHAIX vs. QDSNX

Last updated Jul 11, 2026

JHAIX (JHancock Multi-Asset Absolute Return Fund) and QDSNX (AQR Diversifying Strategies Fund Class N) are both Tactical Allocation funds. Over the past 5 years, JHAIX returned 2.71%/yr vs 10.99%/yr for QDSNX. At a 0.04 correlation, their price movements are largely independent. JHAIX charges 1.26%/yr vs 3.30%/yr for QDSNX.

Performance

JHAIX vs. QDSNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JHancock Multi-Asset Absolute Return Fund (JHAIX) 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, JHAIX achieves a 2.04% return, which is significantly lower than QDSNX's 4.30% return.

JHAIX

• 1D: 0.46%
• 1M: 0.55%
• 6M: 0.73%
• YTD: 2.04%
• 1Y: 5.88%
• 3Y*: 4.56%
• 5Y*: 2.71%
• 10Y*: 3.25%

QDSNX

• 1D: 0.62%
• 1M: -0.88%
• 6M: 3.41%
• YTD: 4.30%
• 1Y: 13.19%
• 3Y*: 11.99%
• 5Y*: 10.99%
• 10Y*: —

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

JHAIX vs. QDSNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
JHAIX JHancock Multi-Asset Absolute Return Fund	2.04%	4.47%	3.85%	4.88%	-5.30%	11.80%	2.32%
QDSNX AQR Diversifying Strategies Fund Class N	4.30%	16.14%	9.56%	8.62%	14.48%	10.35%	5.40%

Correlation

The correlation between JHAIX and QDSNX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Jun 10, 2020	0.04

Over the past year, JHAIX and QDSNX have become more correlated (0.36) than their long-term average of 0.04, meaning their price movements have been converging.

Return for Risk

JHAIX vs. QDSNX — Risk / Return Rank

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

JHAIX

JHAIX Risk / Return Rank: 10
JHAIX Sharpe Ratio Rank: 10
JHAIX Sortino Ratio Rank: 10
JHAIX Omega Ratio Rank: 9
JHAIX Calmar Ratio Rank: 10
JHAIX Martin Ratio Rank: 10

QDSNX

QDSNX Risk / Return Rank: 88
QDSNX Sharpe Ratio Rank: 88
QDSNX Sortino Ratio Rank: 87
QDSNX Omega Ratio Rank: 83
QDSNX Calmar Ratio Rank: 92
QDSNX Martin Ratio Rank: 91

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.

JHAIX vs. QDSNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JHancock Multi-Asset Absolute Return Fund (JHAIX) 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.

	JHAIX	QDSNX	Difference
Sharpe ratio: Return per unit of total volatility	0.56	2.35	-1.79
Sortino ratio: Return per unit of downside risk	0.85	3.44	-2.59
Omega ratio: Gain probability vs. loss probability	1.10	1.44	-0.33
Calmar ratio: Return relative to maximum drawdown	0.65	3.97	-3.32
Martin ratio: Return relative to average drawdown	1.94	14.01	-12.07

JHAIX vs. QDSNX - Sharpe Ratio Comparison

The current JHAIX Sharpe Ratio is 0.56, which is lower than the QDSNX Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of JHAIX 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

JHAIX vs. QDSNX - Drawdown Comparison

The maximum JHAIX drawdown since its inception was -10.61%, which is greater than QDSNX's maximum drawdown of -7.15%. Use the drawdown chart below to compare losses from any high point for JHAIX and QDSNX.

Drawdown Indicators

	JHAIX	QDSNX	Difference
Max Drawdown Largest peak-to-trough decline	-10.61%	-7.15%	-3.46%
Max Drawdown (1Y) Largest decline over 1 year	-7.24%	-3.10%	-4.14%
Max Drawdown (3Y) Largest decline over 3 years	-7.24%	-6.93%	-0.31%
Max Drawdown (5Y) Largest decline over 5 years	-10.61%	-7.15%	-3.46%
Max Drawdown (10Y) Largest decline over 10 years	-10.61%	—	—
Current Drawdown Current decline from peak	-0.72%	-1.95%	+1.23%
Average Drawdown Average peak-to-trough decline	-2.69%	-1.46%	-1.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	0.89%	+1.53%

Volatility

JHAIX vs. QDSNX - Volatility Comparison

JHancock Multi-Asset Absolute Return Fund (JHAIX) has a higher volatility of 2.65% compared to AQR Diversifying Strategies Fund Class N (QDSNX) at 1.97%. This indicates that JHAIX'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

	JHAIX	QDSNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.65%	1.97%	+0.68%
Volatility (6M) Calculated over the trailing 6-month period	6.66%	3.90%	+2.76%
Volatility (1Y) Calculated over the trailing 1-year period	8.42%	5.24%	+3.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.29%	7.62%	-0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.56%	7.30%	-0.74%

JHAIX vs. QDSNX - Expense Ratio Comparison

JHAIX has a 1.26% expense ratio, which is lower than QDSNX's 3.30% expense ratio.

Dividends

JHAIX vs. QDSNX - Dividend Comparison

JHAIX has not paid dividends to shareholders, while QDSNX's dividend yield for the trailing twelve months is around 1.91%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JHAIX JHancock Multi-Asset Absolute Return Fund	0.00%	0.00%	1.84%	0.00%	3.45%	0.00%	0.80%	17.08%	0.00%	0.00%	0.00%	6.92%
QDSNX AQR Diversifying Strategies Fund Class N	1.91%	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 JHAIX and QDSNX in my portfolio?

JHAIX and QDSNX 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, JHAIX or QDSNX?

JHAIX has higher volatility (2.65%) compared to QDSNX (1.97%). In terms of maximum drawdown, JHAIX dropped -10.61% vs QDSNX's -7.15%.

Which has better risk-adjusted returns?

QDSNX currently has the higher Sharpe Ratio (2.35 vs 0.56), 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.