MXVIX vs. QCELX

Last updated Jun 4, 2026

MXVIX (Great-West S&P 500 Index Fund) and QCELX (AQR Large Cap Multi-Style Fund) are both Large Cap Blend Equities funds. Over the past 10 years, MXVIX returned 14.71%/yr vs 15.20%/yr for QCELX. Their correlation of 0.91 suggests significant overlap in exposure. MXVIX charges 0.51%/yr vs 0.41%/yr for QCELX.

Performance

MXVIX vs. QCELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Great-West S&P 500 Index Fund (MXVIX) and AQR Large Cap Multi-Style Fund (QCELX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MXVIX achieves a 11.51% return, which is significantly lower than QCELX's 18.09% return. Both investments have delivered pretty close results over the past 10 years, with MXVIX having a 14.71% annualized return and QCELX not far ahead at 15.20%.

MXVIX

• 1D: 0.12%
• 1M: 5.76%
• YTD: 11.51%
• 6M: 11.50%
• 1Y: 28.38%
• 3Y*: 22.12%
• 5Y*: 13.71%
• 10Y*: 14.71%

QCELX

• 1D: -0.25%
• 1M: 6.79%
• YTD: 18.09%
• 6M: 19.95%
• 1Y: 38.37%
• 3Y*: 27.48%
• 5Y*: 16.17%
• 10Y*: 15.20%

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

MXVIX vs. QCELX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXVIX Great-West S&P 500 Index Fund	11.51%	17.30%	24.31%	25.57%	-18.56%	29.04%	16.96%	30.84%	-5.32%	21.05%
QCELX AQR Large Cap Multi-Style Fund	18.09%	23.38%	22.73%	26.30%	-15.73%	27.18%	14.93%	24.33%	-10.96%	22.73%

Correlation

The correlation between MXVIX and QCELX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.91

The correlation between MXVIX and QCELX has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

Return for Risk

MXVIX vs. QCELX — Risk / Return Rank

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

MXVIX

MXVIX Risk / Return Rank: 76
MXVIX Sharpe Ratio Rank: 80
MXVIX Sortino Ratio Rank: 72
MXVIX Omega Ratio Rank: 71
MXVIX Calmar Ratio Rank: 75
MXVIX Martin Ratio Rank: 83

QCELX

QCELX Risk / Return Rank: 90
QCELX Sharpe Ratio Rank: 92
QCELX Sortino Ratio Rank: 88
QCELX Omega Ratio Rank: 83
QCELX Calmar Ratio Rank: 92
QCELX Martin Ratio Rank: 95

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.

MXVIX vs. QCELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West S&P 500 Index Fund (MXVIX) and AQR Large Cap Multi-Style Fund (QCELX). 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.

	MXVIX	QCELX	Difference
Sharpe ratio Return per unit of total volatility	2.60	3.11	-0.51
Sortino ratio Return per unit of downside risk	3.53	4.21	-0.68
Omega ratio Gain probability vs. loss probability	1.47	1.55	-0.08
Calmar ratio Return relative to maximum drawdown	3.42	5.00	-1.58
Martin ratio Return relative to average drawdown	15.71	23.00	-7.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXVIX vs. QCELX - Sharpe Ratio Comparison

The current MXVIX Sharpe Ratio is 2.60, which is comparable to the QCELX Sharpe Ratio of 3.11. The chart below compares the historical Sharpe Ratios of MXVIX and QCELX, 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

	MXVIX	QCELX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.60	3.11	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.86	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.80	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.72	-0.24

Drawdowns

MXVIX vs. QCELX - Drawdown Comparison

The maximum MXVIX drawdown since its inception was -58.12%, which is greater than QCELX's maximum drawdown of -33.52%. Use the drawdown chart below to compare losses from any high point for MXVIX and QCELX.

Drawdown Indicators

	MXVIX	QCELX	Difference
Max Drawdown Largest peak-to-trough decline	-58.12%	-33.52%	-24.60%
Max Drawdown (1Y) Largest decline over 1 year	-8.94%	-7.92%	-1.02%
Max Drawdown (3Y) Largest decline over 3 years	-19.07%	-18.38%	-0.69%
Max Drawdown (5Y) Largest decline over 5 years	-24.74%	-28.70%	+3.96%
Max Drawdown (10Y) Largest decline over 10 years	-33.82%	-33.52%	-0.30%
Current Drawdown Current decline from peak	0.00%	-0.25%	+0.25%
Average Drawdown Average peak-to-trough decline	-8.68%	-5.66%	-3.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	1.72%	+0.20%

Volatility

MXVIX vs. QCELX - Volatility Comparison

The current volatility for Great-West S&P 500 Index Fund (MXVIX) is 2.82%, while AQR Large Cap Multi-Style Fund (QCELX) has a volatility of 3.06%. This indicates that MXVIX experiences smaller price fluctuations and is considered to be less risky than QCELX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXVIX	QCELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	3.06%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	8.97%	9.34%	-0.37%
Volatility (1Y) Calculated over the trailing 1-year period	11.78%	12.75%	-0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.18%	18.93%	-1.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.21%	18.97%	-0.76%

MXVIX vs. QCELX - Expense Ratio Comparison

MXVIX has a 0.51% expense ratio, which is higher than QCELX's 0.41% expense ratio.

Dividends

MXVIX vs. QCELX - Dividend Comparison

MXVIX's dividend yield for the trailing twelve months is around 0.34%, less than QCELX's 12.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MXVIX Great-West S&P 500 Index Fund	0.34%	0.38%	0.95%	5.22%	1.25%	4.97%	8.27%	5.11%	10.56%	2.06%	0.00%	0.00%
QCELX AQR Large Cap Multi-Style Fund	12.19%	14.40%	12.89%	13.67%	11.05%	12.41%	9.94%	5.36%	7.81%	0.99%	1.28%	0.89%

Frequently Asked Questions

Can I hold both MXVIX and QCELX in my portfolio?

MXVIX and QCELX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MXVIX or QCELX?

QCELX has higher volatility (3.06%) compared to MXVIX (2.82%). In terms of maximum drawdown, MXVIX dropped -58.12% vs QCELX's -33.52%.

Which has better risk-adjusted returns?

QCELX currently has the higher Sharpe Ratio (3.11 vs 2.60), 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.