NLSIX vs. QLFRX

Last updated Jun 4, 2026

NLSIX (Neuberger Berman Long Short Fund) and QLFRX (AQR LSE Fusion Fund Class R6) are both Long-Short funds. A 0.58 correlation means they provide meaningful diversification when combined. NLSIX charges 1.28%/yr vs 6.20%/yr for QLFRX.

Performance

NLSIX vs. QLFRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Long Short Fund (NLSIX) and AQR LSE Fusion Fund Class R6 (QLFRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NLSIX achieves a 2.34% return, which is significantly higher than QLFRX's 0.58% return.

NLSIX

• 1D: -0.19%
• 1M: 0.64%
• YTD: 2.34%
• 6M: 1.99%
• 1Y: 6.09%
• 3Y*: 7.70%
• 5Y*: 5.67%
• 10Y*: 6.86%

QLFRX

• 1D: -0.25%
• 1M: 6.61%
• YTD: 0.58%
• 6M: 4.10%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NLSIX vs. QLFRX - Yearly Performance Comparison

	2026 (YTD)	2025
NLSIX Neuberger Berman Long Short Fund	2.34%	-0.05%
QLFRX AQR LSE Fusion Fund Class R6	0.58%	6.80%

Correlation

The correlation between NLSIX and QLFRX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 7, 2025	0.58

Return for Risk

NLSIX vs. QLFRX — Risk / Return Rank

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

NLSIX

NLSIX Risk / Return Rank: 19
NLSIX Sharpe Ratio Rank: 20
NLSIX Sortino Ratio Rank: 20
NLSIX Omega Ratio Rank: 20
NLSIX Calmar Ratio Rank: 16
NLSIX Martin Ratio Rank: 21

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.

NLSIX vs. QLFRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Long Short Fund (NLSIX) and AQR LSE Fusion Fund Class R6 (QLFRX). 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.

	NLSIX	QLFRX	Difference
Sharpe ratio: Return per unit of total volatility	1.26	—	—
Sortino ratio: Return per unit of downside risk	1.86	—	—
Omega ratio: Gain probability vs. loss probability	1.23	—	—
Calmar ratio: Return relative to maximum drawdown	1.41	—	—
Martin ratio: Return relative to average drawdown	5.44	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	NLSIX	QLFRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.26	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.94	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	0.90	+0.06

Drawdowns

NLSIX vs. QLFRX - Drawdown Comparison

The maximum NLSIX drawdown since its inception was -14.75%, roughly equal to the maximum QLFRX drawdown of -14.53%. Use the drawdown chart below to compare losses from any high point for NLSIX and QLFRX.

Drawdown Indicators

	NLSIX	QLFRX	Difference
Max Drawdown Largest peak-to-trough decline	-14.75%	-14.53%	-0.22%
Max Drawdown (1Y) Largest decline over 1 year	-4.39%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.90%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-10.79%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-14.75%	—	—
Current Drawdown Current decline from peak	-0.58%	-0.66%	+0.08%
Average Drawdown Average peak-to-trough decline	-2.02%	-5.67%	+3.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.13%	—	—

Volatility

Volatility by Period

	NLSIX	QLFRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.42%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.93%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.91%	15.89%	-10.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.66%	15.89%	-9.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.32%	15.89%	-8.57%

NLSIX vs. QLFRX - Expense Ratio Comparison

NLSIX has a 1.28% expense ratio, which is lower than QLFRX's 6.20% expense ratio.

Dividends

NLSIX vs. QLFRX - Dividend Comparison

NLSIX's dividend yield for the trailing twelve months is around 0.05%, less than QLFRX's 0.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NLSIX Neuberger Berman Long Short Fund	0.05%	0.05%	0.02%	0.97%	7.01%	1.13%	2.15%	2.39%	5.91%	0.00%	0.00%	0.01%
QLFRX AQR LSE Fusion Fund Class R6	0.22%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NLSIX and QLFRX in my portfolio?

NLSIX and QLFRX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.