MOOD vs. QNZNX

Last updated Jun 13, 2026

MOOD (Relative Sentiment Tactical Allocation ETF) and QNZNX (AQR Trend Total Return Fund) are both funds - MOOD is a Tactical Allocation fund actively managed by Relative Sentiment, while QNZNX is a Systematic Trend fund actively managed by AQR Funds. Both are actively managed. Over the past 3 years, MOOD returned 20.20%/yr vs 29.97%/yr for QNZNX. A 0.53 correlation means they provide meaningful diversification when combined. MOOD charges 0.68%/yr vs 1.52%/yr for QNZNX.

Performance

MOOD vs. QNZNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Relative Sentiment Tactical Allocation ETF (MOOD) and AQR Trend Total Return Fund (QNZNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with MOOD having a 14.12% return and QNZNX slightly lower at 14.04%.

MOOD

• 1D: 0.41%
• 1M: 1.18%
• YTD: 14.12%
• 6M: 15.59%
• 1Y: 33.44%
• 3Y*: 20.20%
• 5Y*: —
• 10Y*: —

QNZNX

• 1D: 0.27%
• 1M: -2.66%
• YTD: 14.04%
• 6M: 16.05%
• 1Y: 33.73%
• 3Y*: 29.97%
• 5Y*: —
• 10Y*: —

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

MOOD vs. QNZNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MOOD Relative Sentiment Tactical Allocation ETF	14.12%	30.39%	12.53%	12.56%	-3.31%
QNZNX AQR Trend Total Return Fund	14.04%	22.88%	34.96%	22.73%	-2.71%

Correlation

The correlation between MOOD and QNZNX is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (All Time) Calculated using the full available price history since May 19, 2022	0.53

The correlation between MOOD and QNZNX has been stable across timeframes, ranging from 0.53 to 0.56 - a consistent structural relationship.

Return for Risk

MOOD vs. QNZNX — Risk / Return Rank

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

MOOD

MOOD Risk / Return Rank: 77
MOOD Sharpe Ratio Rank: 83
MOOD Sortino Ratio Rank: 70
MOOD Omega Ratio Rank: 86
MOOD Calmar Ratio Rank: 77
MOOD Martin Ratio Rank: 67

QNZNX

QNZNX Risk / Return Rank: 94
QNZNX Sharpe Ratio Rank: 97
QNZNX Sortino Ratio Rank: 91
QNZNX Omega Ratio Rank: 88
QNZNX Calmar Ratio Rank: 98
QNZNX Martin Ratio Rank: 98

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.

MOOD vs. QNZNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Relative Sentiment Tactical Allocation ETF (MOOD) and AQR Trend Total Return Fund (QNZNX). 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.

	MOOD	QNZNX	Difference
Sharpe ratio: Return per unit of total volatility	2.32	3.13	-0.81
Sortino ratio: Return per unit of downside risk	2.76	4.05	-1.30
Omega ratio: Gain probability vs. loss probability	1.45	1.55	-0.10
Calmar ratio: Return relative to maximum drawdown	3.46	7.10	-3.64
Martin ratio: Return relative to average drawdown	10.68	27.05	-16.37

MOOD vs. QNZNX - Sharpe Ratio Comparison

The current MOOD Sharpe Ratio is 2.32, which is comparable to the QNZNX Sharpe Ratio of 3.13. The chart below compares the historical Sharpe Ratios of MOOD and QNZNX, 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

MOOD vs. QNZNX - Drawdown Comparison

The maximum MOOD drawdown since its inception was -14.34%, smaller than the maximum QNZNX drawdown of -18.38%. Use the drawdown chart below to compare losses from any high point for MOOD and QNZNX.

Drawdown Indicators

	MOOD	QNZNX	Difference
Max Drawdown Largest peak-to-trough decline	-14.34%	-18.38%	+4.04%
Max Drawdown (1Y) Largest decline over 1 year	-9.71%	-4.88%	-4.83%
Max Drawdown (3Y) Largest decline over 3 years	-9.71%	-13.48%	+3.77%
Current Drawdown Current decline from peak	-0.86%	-3.84%	+2.98%
Average Drawdown Average peak-to-trough decline	-2.32%	-2.77%	+0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	1.28%	+1.86%

Volatility

MOOD vs. QNZNX - Volatility Comparison

Relative Sentiment Tactical Allocation ETF (MOOD) has a higher volatility of 4.19% compared to AQR Trend Total Return Fund (QNZNX) at 3.24%. This indicates that MOOD's price experiences larger fluctuations and is considered to be riskier than QNZNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MOOD	QNZNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	3.24%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	12.73%	7.61%	+5.12%
Volatility (1Y) Calculated over the trailing 1-year period	14.49%	11.08%	+3.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.13%	12.08%	+0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.13%	12.08%	+0.05%

MOOD vs. QNZNX - Expense Ratio Comparison

MOOD has a 0.68% expense ratio, which is lower than QNZNX's 1.52% expense ratio.

Dividends

MOOD vs. QNZNX - Dividend Comparison

MOOD's dividend yield for the trailing twelve months is around 0.35%, less than QNZNX's 0.75% yield.

Position	TTM	2025	2024	2023	2022
MOOD Relative Sentiment Tactical Allocation ETF	0.35%	0.40%	1.33%	1.34%	1.43%
QNZNX AQR Trend Total Return Fund	0.75%	0.86%	16.46%	23.14%	2.04%

Frequently Asked Questions

Can I hold both MOOD and QNZNX in my portfolio?

MOOD and QNZNX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MOOD or QNZNX?

MOOD has higher volatility (4.19%) compared to QNZNX (3.24%). In terms of maximum drawdown, MOOD dropped -14.34% vs QNZNX's -18.38%.

Which has better risk-adjusted returns?

QNZNX currently has the higher Sharpe Ratio (3.13 vs 2.32), 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.