MGINX vs. QDSNX

Last updated Jun 25, 2026

MGINX (DWS Global Macro Fund) and QDSNX (AQR Diversifying Strategies Fund Class N) are both Tactical Allocation funds. Over the past 5 years, MGINX returned 4.35%/yr vs 11.04%/yr for QDSNX. At a 0.22 correlation, their price movements are largely independent. MGINX charges 0.79%/yr vs 3.30%/yr for QDSNX.

Performance

MGINX vs. QDSNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DWS Global Macro Fund (MGINX) 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, MGINX achieves a 1.85% return, which is significantly lower than QDSNX's 4.44% return.

MGINX

• 1D: -1.03%
• 1M: -1.71%
• YTD: 1.85%
• 6M: 1.23%
• 1Y: 9.60%
• 3Y*: 7.97%
• 5Y*: 4.35%
• 10Y*: 6.19%

QDSNX

• 1D: -0.88%
• 1M: -0.48%
• YTD: 4.44%
• 6M: 4.51%
• 1Y: 12.58%
• 3Y*: 12.11%
• 5Y*: 11.04%
• 10Y*: —

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

MGINX vs. QDSNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MGINX DWS Global Macro Fund	1.85%	14.73%	3.56%	9.15%	-6.87%	6.36%	5.79%
QDSNX AQR Diversifying Strategies Fund Class N	4.44%	16.14%	9.56%	8.62%	14.48%	10.35%	5.40%

Correlation

The correlation between MGINX and QDSNX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (All Time) Calculated using the full available price history since Jun 10, 2020	0.22

The correlation between MGINX and QDSNX shifts across timeframes, from 0.17 (5 years) to 0.38 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MGINX vs. QDSNX — Risk / Return Rank

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

MGINX

MGINX Risk / Return Rank: 24
MGINX Sharpe Ratio Rank: 26
MGINX Sortino Ratio Rank: 24
MGINX Omega Ratio Rank: 26
MGINX Calmar Ratio Rank: 20
MGINX Martin Ratio Rank: 24

QDSNX

QDSNX Risk / Return Rank: 87
QDSNX Sharpe Ratio Rank: 83
QDSNX Sortino Ratio Rank: 83
QDSNX Omega Ratio Rank: 79
QDSNX Calmar Ratio Rank: 97
QDSNX Martin Ratio Rank: 92

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.

MGINX vs. QDSNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DWS Global Macro Fund (MGINX) 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.

	MGINX	QDSNX	Difference
Sharpe ratio: Return per unit of total volatility	1.29	2.48	-1.20
Sortino ratio: Return per unit of downside risk	1.78	3.63	-1.85
Omega ratio: Gain probability vs. loss probability	1.24	1.47	-0.23
Calmar ratio: Return relative to maximum drawdown	1.46	6.51	-5.05
Martin ratio: Return relative to average drawdown	5.23	17.47	-12.24

MGINX vs. QDSNX - Sharpe Ratio Comparison

The current MGINX Sharpe Ratio is 1.29, which is lower than the QDSNX Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of MGINX 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

MGINX vs. QDSNX - Drawdown Comparison

The maximum MGINX drawdown since its inception was -63.39%, which is greater than QDSNX's maximum drawdown of -7.15%. Use the drawdown chart below to compare losses from any high point for MGINX and QDSNX.

Drawdown Indicators

	MGINX	QDSNX	Difference
Max Drawdown Largest peak-to-trough decline	-63.39%	-7.15%	-56.24%
Max Drawdown (1Y) Largest decline over 1 year	-7.01%	-1.97%	-5.04%
Max Drawdown (3Y) Largest decline over 3 years	-7.01%	-6.93%	-0.08%
Max Drawdown (5Y) Largest decline over 5 years	-12.16%	-7.15%	-5.01%
Max Drawdown (10Y) Largest decline over 10 years	-15.12%	—	—
Current Drawdown Current decline from peak	-3.83%	-1.82%	-2.01%
Average Drawdown Average peak-to-trough decline	-13.74%	-1.45%	-12.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	0.73%	+1.21%

Volatility

MGINX vs. QDSNX - Volatility Comparison

DWS Global Macro Fund (MGINX) has a higher volatility of 3.16% compared to AQR Diversifying Strategies Fund Class N (QDSNX) at 2.02%. This indicates that MGINX'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

	MGINX	QDSNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.16%	2.02%	+1.14%
Volatility (6M) Calculated over the trailing 6-month period	6.96%	3.74%	+3.22%
Volatility (1Y) Calculated over the trailing 1-year period	7.94%	5.16%	+2.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.94%	7.63%	-0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.31%	7.30%	+0.01%

MGINX vs. QDSNX - Expense Ratio Comparison

MGINX has a 0.79% expense ratio, which is lower than QDSNX's 3.30% expense ratio.

Dividends

MGINX vs. QDSNX - Dividend Comparison

MGINX's dividend yield for the trailing twelve months is around 1.83%, less than QDSNX's 1.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MGINX DWS Global Macro Fund	1.83%	1.82%	2.15%	2.88%	4.76%	1.20%	0.81%	3.23%	6.82%
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%

Frequently Asked Questions

Can I hold both MGINX and QDSNX in my portfolio?

MGINX and QDSNX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGINX or QDSNX?

MGINX has higher volatility (3.16%) compared to QDSNX (2.02%). In terms of maximum drawdown, MGINX dropped -63.39% vs QDSNX's -7.15%.

Which has better risk-adjusted returns?

QDSNX currently has the higher Sharpe Ratio (2.48 vs 1.29), 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.