QCFIX vs. SPMO

Last updated Jun 4, 2026

QCFIX (AQR CVX Fusion Fund Class I) and SPMO (Invesco S&P 500 Momentum ETF) are both funds - QCFIX is a Systematic Trend fund actively managed by AQR, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. QCFIX is actively managed, while SPMO is passively managed. Their correlation of 0.82 suggests significant overlap in exposure. QCFIX charges 2.17%/yr vs 0.13%/yr for SPMO.

Performance

QCFIX vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR CVX Fusion Fund Class I (QCFIX) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QCFIX achieves a 18.65% return, which is significantly lower than SPMO's 30.35% return.

QCFIX

• 1D: 0.69%
• 1M: 6.12%
• YTD: 18.65%
• 6M: 19.29%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPMO

• 1D: 0.50%
• 1M: 15.36%
• YTD: 30.35%
• 6M: 30.51%
• 1Y: 46.00%
• 3Y*: 43.04%
• 5Y*: 24.29%
• 10Y*: 20.95%

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

QCFIX vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025
QCFIX AQR CVX Fusion Fund Class I	18.65%	2.00%
SPMO Invesco S&P 500 Momentum ETF	30.35%	1.25%

Correlation

The correlation between QCFIX and SPMO is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 7, 2025	0.82

Return for Risk

QCFIX vs. SPMO — Risk / Return Rank

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

SPMO

SPMO Risk / Return Rank: 75
SPMO Sharpe Ratio Rank: 79
SPMO Sortino Ratio Rank: 77
SPMO Omega Ratio Rank: 77
SPMO Calmar Ratio Rank: 71
SPMO Martin Ratio Rank: 73

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.

QCFIX vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR CVX Fusion Fund Class I (QCFIX) and Invesco S&P 500 Momentum ETF (SPMO). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	QCFIX	SPMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.62	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.27	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.94	1.01	+1.93

Drawdowns

QCFIX vs. SPMO - Drawdown Comparison

The maximum QCFIX drawdown since its inception was -7.93%, smaller than the maximum SPMO drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for QCFIX and SPMO.

Drawdown Indicators

	QCFIX	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-7.93%	-30.95%	+23.02%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.70%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.13%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-30.95%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.58%	-4.60%	+3.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.26%	—

Volatility

Volatility by Period

	QCFIX	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.35%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.39%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.59%	17.64%	-3.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.59%	19.30%	-4.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.59%	20.31%	-5.72%

QCFIX vs. SPMO - Expense Ratio Comparison

QCFIX has a 2.17% expense ratio, which is higher than SPMO's 0.13% expense ratio.

Dividends

QCFIX vs. SPMO - Dividend Comparison

QCFIX's dividend yield for the trailing twelve months is around 6.59%, more than SPMO's 0.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QCFIX AQR CVX Fusion Fund Class I	6.59%	7.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPMO Invesco S&P 500 Momentum ETF	0.65%	0.73%	0.48%	1.63%	1.66%	0.52%	1.27%	1.39%	1.05%	0.77%	1.94%	0.36%

Frequently Asked Questions

Can I hold both QCFIX and SPMO in my portfolio?

QCFIX and SPMO have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.