QCFRX vs. QMFNX

Last updated Jul 11, 2026

QCFRX (AQR CVX Fusion Fund Class R6) and QMFNX (AQR MS Fusion Fund Class N) are both mutual funds - QCFRX is a Systematic Trend fund actively managed by AQR, while QMFNX is a Multistrategy fund actively managed by AQR. Both are actively managed. Their correlation of 0.88 suggests significant overlap in exposure. QCFRX charges 2.07%/yr vs 3.80%/yr for QMFNX.

Performance

QCFRX vs. QMFNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR CVX Fusion Fund Class R6 (QCFRX) and AQR MS Fusion Fund Class N (QMFNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QCFRX achieves a 14.85% return, which is significantly higher than QMFNX's 6.81% return.

QCFRX

• 1D: 1.27%
• 1M: 0.31%
• 6M: 11.54%
• YTD: 14.85%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QMFNX

• 1D: 1.49%
• 1M: -0.89%
• 6M: 5.34%
• YTD: 6.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QCFRX vs. QMFNX - Yearly Performance Comparison

	2026 (YTD)	2025
QCFRX AQR CVX Fusion Fund Class R6	14.85%	2.02%
QMFNX AQR MS Fusion Fund Class N	6.81%	3.54%

Correlation

The correlation between QCFRX and QMFNX is 0.88, 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 6, 2025	0.88

Return for Risk

QCFRX vs. QMFNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR CVX Fusion Fund Class R6 (QCFRX) and AQR MS Fusion Fund Class N (QMFNX). 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.

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

Drawdowns

QCFRX vs. QMFNX - Drawdown Comparison

The maximum QCFRX drawdown since its inception was -8.00%, smaller than the maximum QMFNX drawdown of -10.37%. Use the drawdown chart below to compare losses from any high point for QCFRX and QMFNX.

Drawdown Indicators

	QCFRX	QMFNX	Difference
Max Drawdown Largest peak-to-trough decline	-8.00%	-10.37%	+2.37%
Current Drawdown Current decline from peak	-3.19%	-4.15%	+0.96%
Average Drawdown Average peak-to-trough decline	-1.92%	-2.55%	+0.63%

Volatility

Volatility by Period

	QCFRX	QMFNX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	15.18%	14.97%	+0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.18%	14.97%	+0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.18%	14.97%	+0.21%

QCFRX vs. QMFNX - Expense Ratio Comparison

QCFRX has a 2.07% expense ratio, which is lower than QMFNX's 3.80% expense ratio.

Dividends

QCFRX vs. QMFNX - Dividend Comparison

QCFRX's dividend yield for the trailing twelve months is around 6.83%, more than QMFNX's 0.35% yield.

Position	TTM	2025
QCFRX AQR CVX Fusion Fund Class R6	6.83%	7.84%
QMFNX AQR MS Fusion Fund Class N	0.35%	0.37%

Frequently Asked Questions

Can I hold both QCFRX and QMFNX in my portfolio?

QCFRX and QMFNX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.