QCFNX vs. UTG

Last updated Jun 24, 2026

QCFNX (AQR CVX Fusion Fund Class N) is Systematic Trend fund actively managed by AQR, while UTG (Reaves Utility Income Trust) is a stock. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

QCFNX vs. UTG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR CVX Fusion Fund Class N (QCFNX) and Reaves Utility Income Trust (UTG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QCFNX achieves a 15.15% return, which is significantly lower than UTG's 18.90% return.

QCFNX

• 1D: 0.24%
• 1M: -0.62%
• YTD: 15.15%
• 6M: 14.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UTG

• 1D: -0.23%
• 1M: 0.27%
• YTD: 18.90%
• 6M: 19.91%
• 1Y: 27.50%
• 3Y*: 25.02%
• 5Y*: 12.24%
• 10Y*: 10.67%

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

QCFNX vs. UTG - Yearly Performance Comparison

	2026 (YTD)	2025
QCFNX AQR CVX Fusion Fund Class N	15.15%	1.98%
UTG Reaves Utility Income Trust	18.90%	-1.75%

Correlation

The correlation between QCFNX and UTG is 0.51, 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 6, 2025	0.51

Return for Risk

QCFNX vs. UTG — Risk / Return Rank

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

QCFNX

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

UTG

UTG Risk / Return Rank: 79
UTG Sharpe Ratio Rank: 84
UTG Sortino Ratio Rank: 78
UTG Omega Ratio Rank: 78
UTG Calmar Ratio Rank: 79
UTG Martin Ratio Rank: 77

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.

QCFNX vs. UTG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR CVX Fusion Fund Class N (QCFNX) and Reaves Utility Income Trust (UTG). 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.

	QCFNX	UTG	Difference
Sharpe ratio: Return per unit of total volatility	—	1.61	—
Sortino ratio: Return per unit of downside risk	—	2.09	—
Omega ratio: Gain probability vs. loss probability	—	1.27	—
Calmar ratio: Return relative to maximum drawdown	—	2.38	—
Martin ratio: Return relative to average drawdown	—	5.17	—

Drawdowns

QCFNX vs. UTG - Drawdown Comparison

The maximum QCFNX drawdown since its inception was -8.02%, smaller than the maximum UTG drawdown of -67.77%. Use the drawdown chart below to compare losses from any high point for QCFNX and UTG.

Drawdown Indicators

	QCFNX	UTG	Difference
Max Drawdown Largest peak-to-trough decline	-8.02%	-67.77%	+59.75%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.59%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-15.03%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.54%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-47.91%	—
Current Drawdown Current decline from peak	-2.82%	-1.82%	-1.00%
Average Drawdown Average peak-to-trough decline	-1.71%	-8.73%	+7.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.33%	—

Volatility

Volatility by Period

	QCFNX	UTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.85%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.30%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.08%	17.29%	-2.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.08%	16.95%	-1.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.08%	21.64%	-6.56%

Dividends

QCFNX vs. UTG - Dividend Comparison

QCFNX's dividend yield for the trailing twelve months is around 6.71%, more than UTG's 5.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QCFNX AQR CVX Fusion Fund Class N	6.71%	7.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UTG Reaves Utility Income Trust	5.65%	6.42%	7.19%	8.53%	8.07%	6.35%	6.59%	5.69%	6.86%	6.21%	9.02%	6.86%

Frequently Asked Questions

Can I hold both QCFNX and UTG in my portfolio?

QCFNX and UTG have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.