KDRN vs. QMNNX

Last updated Jun 3, 2026

KDRN (Kingsbarn Tactical Bond ETF) and QMNNX (AQR Equity Market Neutral Fund N) are both funds - KDRN is a Intermediate Core-Plus Bond fund actively managed by Kingsbarn, while QMNNX is a Equity Market Neutral fund managed by AQR Funds. Over the past 3 years, KDRN returned 3.52%/yr vs 19.91%/yr for QMNNX. At a correlation of -0.26, they often move in opposite directions. KDRN charges 1.09%/yr vs 5.28%/yr for QMNNX.

Performance

KDRN vs. QMNNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kingsbarn Tactical Bond ETF (KDRN) and AQR Equity Market Neutral Fund N (QMNNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KDRN achieves a 1.24% return, which is significantly higher than QMNNX's -5.25% return.

KDRN

• 1D: 0.04%
• 1M: 0.24%
• YTD: 1.24%
• 6M: 0.92%
• 1Y: 3.43%
• 3Y*: 3.52%
• 5Y*: —
• 10Y*: —

QMNNX

• 1D: 1.40%
• 1M: 2.03%
• YTD: -5.25%
• 6M: -3.10%
• 1Y: 4.14%
• 3Y*: 19.91%
• 5Y*: 17.23%
• 10Y*: 6.09%

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

KDRN vs. QMNNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
KDRN Kingsbarn Tactical Bond ETF	1.24%	4.65%	1.30%	10.06%	-12.05%	0.12%
QMNNX AQR Equity Market Neutral Fund N	-5.25%	26.19%	25.43%	16.30%	27.07%	1.43%

Correlation

The correlation between KDRN and QMNNX is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.19
Correlation (3Y) Calculated over the trailing 3-year period	-0.21
Correlation (All Time) Calculated using the full available price history since Dec 22, 2021	-0.26

Return for Risk

KDRN vs. QMNNX — Risk / Return Rank

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

KDRN

KDRN Risk / Return Rank: 28
KDRN Sharpe Ratio Rank: 27
KDRN Sortino Ratio Rank: 26
KDRN Omega Ratio Rank: 27
KDRN Calmar Ratio Rank: 35
KDRN Martin Ratio Rank: 25

QMNNX

QMNNX Risk / Return Rank: 7
QMNNX Sharpe Ratio Rank: 8
QMNNX Sortino Ratio Rank: 8
QMNNX Omega Ratio Rank: 8
QMNNX Calmar Ratio Rank: 6
QMNNX Martin Ratio Rank: 5

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.

KDRN vs. QMNNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kingsbarn Tactical Bond ETF (KDRN) and AQR Equity Market Neutral Fund N (QMNNX). 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.

	KDRN	QMNNX	Difference
Sharpe ratio Return per unit of total volatility	0.97	0.72	+0.26
Sortino ratio Return per unit of downside risk	1.42	1.03	+0.39
Omega ratio Gain probability vs. loss probability	1.19	1.13	+0.06
Calmar ratio Return relative to maximum drawdown	1.76	0.58	+1.18
Martin ratio Return relative to average drawdown	3.48	1.36	+2.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KDRN vs. QMNNX - Sharpe Ratio Comparison

The current KDRN Sharpe Ratio is 0.97, which is higher than the QMNNX Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of KDRN and QMNNX, 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

	KDRN	QMNNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.97	0.72	+0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.84	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.84	-0.70

Drawdowns

KDRN vs. QMNNX - Drawdown Comparison

The maximum KDRN drawdown since its inception was -15.29%, smaller than the maximum QMNNX drawdown of -39.22%. Use the drawdown chart below to compare losses from any high point for KDRN and QMNNX.

Drawdown Indicators

	KDRN	QMNNX	Difference
Max Drawdown Largest peak-to-trough decline	-15.29%	-39.22%	+23.93%
Max Drawdown (1Y) Largest decline over 1 year	-1.77%	-8.41%	+6.64%
Max Drawdown (3Y) Largest decline over 3 years	-4.94%	-8.41%	+3.47%
Max Drawdown (5Y) Largest decline over 5 years	—	-13.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.22%	—
Current Drawdown Current decline from peak	-0.79%	-5.63%	+4.84%
Average Drawdown Average peak-to-trough decline	-4.77%	-10.61%	+5.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	3.59%	-2.70%

Volatility

KDRN vs. QMNNX - Volatility Comparison

The current volatility for Kingsbarn Tactical Bond ETF (KDRN) is 0.75%, while AQR Equity Market Neutral Fund N (QMNNX) has a volatility of 2.67%. This indicates that KDRN experiences smaller price fluctuations and is considered to be less risky than QMNNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KDRN	QMNNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.75%	2.67%	-1.92%
Volatility (6M) Calculated over the trailing 6-month period	2.11%	5.21%	-3.10%
Volatility (1Y) Calculated over the trailing 1-year period	3.54%	6.71%	-3.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.61%	9.42%	-2.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.61%	8.30%	-1.69%

KDRN vs. QMNNX - Expense Ratio Comparison

KDRN has a 1.09% expense ratio, which is lower than QMNNX's 5.28% expense ratio.

Dividends

KDRN vs. QMNNX - Dividend Comparison

KDRN's dividend yield for the trailing twelve months is around 3.11%, more than QMNNX's 1.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KDRN Kingsbarn Tactical Bond ETF	3.11%	2.54%	2.83%	2.84%	2.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QMNNX AQR Equity Market Neutral Fund N	1.32%	1.26%	6.06%	21.67%	5.77%	1.41%	17.64%	3.86%	0.49%	3.37%	1.19%	2.51%

Frequently Asked Questions

Can I hold both KDRN and QMNNX in my portfolio?

KDRN and QMNNX have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KDRN or QMNNX?

QMNNX has higher volatility (2.67%) compared to KDRN (0.75%). In terms of maximum drawdown, KDRN dropped -15.29% vs QMNNX's -39.22%.

Which has better risk-adjusted returns?

KDRN currently has the higher Sharpe Ratio (0.97 vs 0.72), 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.