QDSIX vs. QNZIX

Last updated Jun 4, 2026

QDSIX (AQR Diversifying Strategies Fund) and QNZIX (AQR Trend Total Return Fund Class I) are both mutual funds - QDSIX is a Multistrategy fund managed by AQR Funds, while QNZIX is a Systematic Trend fund actively managed by AQR Funds. Over the past 3 years, QDSIX returned 13.91%/yr vs 32.65%/yr for QNZIX. A 0.66 correlation means they provide meaningful diversification when combined. QDSIX charges 0.20%/yr vs 1.27%/yr for QNZIX.

Performance

QDSIX vs. QNZIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Diversifying Strategies Fund (QDSIX) and AQR Trend Total Return Fund Class I (QNZIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QDSIX achieves a 6.42% return, which is significantly lower than QNZIX's 18.23% return.

QDSIX

• 1D: 0.07%
• 1M: 1.50%
• YTD: 6.42%
• 6M: 7.88%
• 1Y: 15.05%
• 3Y*: 13.91%
• 5Y*: 11.18%
• 10Y*: —

QNZIX

• 1D: 0.69%
• 1M: 4.17%
• YTD: 18.23%
• 6M: 20.50%
• 1Y: 38.49%
• 3Y*: 32.65%
• 5Y*: —
• 10Y*: —

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

QDSIX vs. QNZIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
QDSIX AQR Diversifying Strategies Fund	6.42%	16.36%	9.71%	8.88%	6.34%
QNZIX AQR Trend Total Return Fund Class I	18.23%	23.26%	35.22%	23.03%	1.57%

Correlation

The correlation between QDSIX and QNZIX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (All Time) Calculated using the full available price history since Mar 18, 2022	0.66

The correlation between QDSIX and QNZIX has been stable across timeframes, ranging from 0.66 to 0.75 - a consistent structural relationship.

Return for Risk

QDSIX vs. QNZIX — Risk / Return Rank

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

QDSIX

QDSIX Risk / Return Rank: 92
QDSIX Sharpe Ratio Rank: 91
QDSIX Sortino Ratio Rank: 92
QDSIX Omega Ratio Rank: 86
QDSIX Calmar Ratio Rank: 98
QDSIX Martin Ratio Rank: 95

QNZIX

QNZIX Risk / Return Rank: 95
QNZIX Sharpe Ratio Rank: 97
QNZIX Sortino Ratio Rank: 93
QNZIX Omega Ratio Rank: 91
QNZIX Calmar Ratio Rank: 98
QNZIX Martin Ratio Rank: 98

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.

QDSIX vs. QNZIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Diversifying Strategies Fund (QDSIX) and AQR Trend Total Return Fund Class I (QNZIX). 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.

	QDSIX	QNZIX	Difference
Sharpe ratio: Return per unit of total volatility	3.05	3.65	-0.60
Sortino ratio: Return per unit of downside risk	4.56	4.76	-0.20
Omega ratio: Gain probability vs. loss probability	1.59	1.65	-0.06
Calmar ratio: Return relative to maximum drawdown	7.82	8.07	-0.25
Martin ratio: Return relative to average drawdown	22.82	32.68	-9.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QDSIX vs. QNZIX - Sharpe Ratio Comparison

The current QDSIX Sharpe Ratio is 3.05, which is comparable to the QNZIX Sharpe Ratio of 3.65. The chart below compares the historical Sharpe Ratios of QDSIX and QNZIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QDSIX	QNZIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.05	3.65	-0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.66	2.00	-0.33

Drawdowns

QDSIX vs. QNZIX - Drawdown Comparison

The maximum QDSIX drawdown since its inception was -7.06%, smaller than the maximum QNZIX drawdown of -18.35%. Use the drawdown chart below to compare losses from any high point for QDSIX and QNZIX.

Drawdown Indicators

	QDSIX	QNZIX	Difference
Max Drawdown Largest peak-to-trough decline	-7.06%	-18.35%	+11.29%
Max Drawdown (1Y) Largest decline over 1 year	-1.96%	-4.86%	+2.90%
Max Drawdown (3Y) Largest decline over 3 years	-6.90%	-13.51%	+6.61%
Max Drawdown (5Y) Largest decline over 5 years	-7.06%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.44%	-2.77%	+1.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	1.20%	-0.53%

Volatility

QDSIX vs. QNZIX - Volatility Comparison

The current volatility for AQR Diversifying Strategies Fund (QDSIX) is 1.38%, while AQR Trend Total Return Fund Class I (QNZIX) has a volatility of 2.27%. This indicates that QDSIX experiences smaller price fluctuations and is considered to be less risky than QNZIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDSIX	QNZIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.38%	2.27%	-0.89%
Volatility (6M) Calculated over the trailing 6-month period	3.60%	7.15%	-3.55%
Volatility (1Y) Calculated over the trailing 1-year period	5.04%	10.80%	-5.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.64%	12.04%	-4.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.32%	12.04%	-4.72%

QDSIX vs. QNZIX - Expense Ratio Comparison

QDSIX has a 0.20% expense ratio, which is lower than QNZIX's 1.27% expense ratio.

Dividends

QDSIX vs. QNZIX - Dividend Comparison

QDSIX's dividend yield for the trailing twelve months is around 2.10%, more than QNZIX's 0.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
QDSIX AQR Diversifying Strategies Fund	2.10%	2.23%	0.00%	11.35%	8.22%	6.07%	1.93%
QNZIX AQR Trend Total Return Fund Class I	0.90%	1.07%	16.81%	23.32%	2.14%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QDSIX and QNZIX in my portfolio?

QDSIX and QNZIX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QDSIX or QNZIX?

QNZIX has higher volatility (2.27%) compared to QDSIX (1.38%). In terms of maximum drawdown, QDSIX dropped -7.06% vs QNZIX's -18.35%.

Which has better risk-adjusted returns?

QNZIX currently has the higher Sharpe Ratio (3.65 vs 3.05), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.