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PQTIX vs. QMHNX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

PQTIX vs. QMHNX

Last updated Apr 2, 2026

Compare and contrast key facts about PIMCO TRENDS Managed Futures Strategy Fund Institutional Class (PQTIX) and AQR Managed Futures Strategy HV Fund Class N (QMHNX).

PQTIX is an actively managed fund by PIMCO. It was launched on Jan 2, 2014. QMHNX is an actively managed fund by AQR. It was launched on Jul 16, 2013.

Performance

PQTIX vs. QMHNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO TRENDS Managed Futures Strategy Fund Institutional Class (PQTIX) and AQR Managed Futures Strategy HV Fund Class N (QMHNX). The values are adjusted to include any dividend payments, if applicable.

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PQTIX vs. QMHNX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PQTIX
PIMCO TRENDS Managed Futures Strategy Fund Institutional Class		3.93%2.39%-2.88%-4.19%11.62%14.87%9.96%2.90%2.37%2.37%
QMHNX
AQR Managed Futures Strategy HV Fund Class N		13.82%19.65%10.48%-0.40%49.64%-2.30%-0.85%1.55%-14.59%-2.06%

Returns By Period

In the year-to-date period, PQTIX achieves a 3.93% return, which is significantly lower than QMHNX's 13.82% return. Over the past 10 years, PQTIX has underperformed QMHNX with an annualized return of 3.79%, while QMHNX has yielded a comparatively higher 4.69% annualized return.

PQTIX

1D
-0.71%
1M
-2.37%
YTD
3.93%
6M
9.24%
1Y
11.55%
3Y*
1.90%
5Y*
4.19%
10Y*
3.79%

QMHNX

1D
-0.62%
1M
1.71%
YTD
13.82%
6M
18.02%
1Y
25.90%
3Y*
17.50%
5Y*
16.03%
10Y*
4.69%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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PIMCO TRENDS Managed Futures Strategy Fund Institutional Class

AQR Managed Futures Strategy HV Fund Class N

Often compared with PQTIX:
PQTIX vs. GFIRXPQTIX vs. RSBTPQTIX vs. PQTPXPQTIX vs. PISIXPQTIX vs. PSLDXPQTIX vs. DBMFPQTIX vs. QMHIX
Often compared with QMHNX:
QMHNX vs. EQCHXQMHNX vs. ABYAXQMHNX vs. GFIRXQMHNX vs. QNZIXQMHNX vs. RWSIXQMHNX vs. MFTFXQMHNX vs. QRPRX

PQTIX vs. QMHNX - Expense Ratio Comparison

PQTIX has a 1.54% expense ratio, which is lower than QMHNX's 4.12% expense ratio.

QMHNX
AQR Managed Futures Strategy HV Fund Class N
PQTIX
PIMCO TRENDS Managed Futures Strategy Fund Institutional Class

Return for Risk

PQTIX vs. QMHNX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PQTIX
PQTIX Risk / Return Rank: 4949
Overall Rank
PQTIX Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
PQTIX Sortino Ratio Rank: 6060
Sortino Ratio Rank
PQTIX Omega Ratio Rank: 5050
Omega Ratio Rank
PQTIX Calmar Ratio Rank: 4444
Calmar Ratio Rank
PQTIX Martin Ratio Rank: 2424
Martin Ratio Rank
QMHNX
QMHNX Risk / Return Rank: 8585
Overall Rank
QMHNX Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
QMHNX Sortino Ratio Rank: 8383
Sortino Ratio Rank
QMHNX Omega Ratio Rank: 8181
Omega Ratio Rank
QMHNX Calmar Ratio Rank: 9494
Calmar Ratio Rank
QMHNX Martin Ratio Rank: 7878
Martin Ratio Rank
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.

PQTIX vs. QMHNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO TRENDS Managed Futures Strategy Fund Institutional Class (PQTIX) and AQR Managed Futures Strategy HV Fund Class N (QMHNX). 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.

PQTIXQMHNXDifference

Sharpe ratio

Return per unit of total volatility

1.31

1.89

-0.58

Sortino ratio

Return per unit of downside risk

1.78

2.32

-0.54

Omega ratio

Gain probability vs. loss probability

1.23

1.34

-0.11

Calmar ratio

Return relative to maximum drawdown

1.42

3.27

-1.85

Martin ratio

Return relative to average drawdown

3.47

8.68

-5.22

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PQTIX vs. QMHNX - Sharpe Ratio Comparison

The current PQTIX Sharpe Ratio is 1.31, which is lower than the QMHNX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of PQTIX and QMHNX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

PQTIXQMHNXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.31

1.89

-0.58

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.43

0.94

-0.51

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.41

0.30

+0.10

Sharpe Ratio (All Time)

Calculated using the full available price history

0.47

0.35

+0.12

Correlation

The correlation between PQTIX and QMHNX is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

PQTIX vs. QMHNX - Dividend Comparison

PQTIX has not paid dividends to shareholders, while QMHNX's dividend yield for the trailing twelve months is around 1.66%.

TTM20252024202320222021202020192018201720162015
PQTIX
PIMCO TRENDS Managed Futures Strategy Fund Institutional Class		0.00%0.00%0.00%0.00%14.83%2.47%5.65%2.55%0.39%0.25%0.00%8.06%
QMHNX
AQR Managed Futures Strategy HV Fund Class N		1.66%1.89%2.09%7.36%8.75%10.64%7.79%3.80%0.00%0.00%0.01%7.47%

Drawdowns

PQTIX vs. QMHNX - Drawdown Comparison

The maximum PQTIX drawdown since its inception was -27.65%, smaller than the maximum QMHNX drawdown of -40.29%. Use the drawdown chart below to compare losses from any high point for PQTIX and QMHNX.

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Drawdown Indicators

PQTIXQMHNXDifference

Max Drawdown

Largest peak-to-trough decline

-27.65%

-40.29%

+12.64%

Max Drawdown (1Y)

Largest decline over 1 year

-7.97%

-8.40%

+0.43%

Max Drawdown (5Y)

Largest decline over 5 years

-27.65%

-19.23%

-8.42%

Max Drawdown (10Y)

Largest decline over 10 years

-27.65%

-35.34%

+7.69%

Current Drawdown

Current decline from peak

-13.00%

-1.23%

-11.77%

Average Drawdown

Average peak-to-trough decline

-9.23%

-18.52%

+9.29%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.27%

3.16%

+0.11%

Volatility

PQTIX vs. QMHNX - Volatility Comparison

The current volatility for PIMCO TRENDS Managed Futures Strategy Fund Institutional Class (PQTIX) is 3.60%, while AQR Managed Futures Strategy HV Fund Class N (QMHNX) has a volatility of 4.04%. This indicates that PQTIX experiences smaller price fluctuations and is considered to be less risky than QMHNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PQTIXQMHNXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.60%

4.04%

-0.44%

Volatility (6M)

Calculated over the trailing 6-month period

6.80%

9.99%

-3.19%

Volatility (1Y)

Calculated over the trailing 1-year period

8.80%

14.17%

-5.37%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.87%

17.22%

-7.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.38%

15.46%

-6.08%