QDSNX vs. BAMBX

Last updated Jun 3, 2026

QDSNX (AQR Diversifying Strategies Fund Class N) and BAMBX (BlackRock Systematic Multi-Strategy Fund) are both mutual funds - QDSNX is a Tactical Allocation fund actively managed by AQR Funds, while BAMBX is a Multistrategy fund tracking the ICE BofA 3 Month Treasury Bill Index (G0O1) (USD). QDSNX is actively managed, while BAMBX is passively managed. Over the past 5 years, QDSNX returned 10.97%/yr vs 3.09%/yr for BAMBX. At a 0.18 correlation, their price movements are largely independent. QDSNX charges 3.30%/yr vs 1.20%/yr for BAMBX.

Performance

QDSNX vs. BAMBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Diversifying Strategies Fund Class N (QDSNX) and BlackRock Systematic Multi-Strategy Fund (BAMBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QDSNX achieves a 6.23% return, which is significantly higher than BAMBX's -0.68% return.

QDSNX

• 1D: 1.02%
• 1M: 1.71%
• YTD: 6.23%
• 6M: 7.28%
• 1Y: 14.86%
• 3Y*: 13.69%
• 5Y*: 10.97%
• 10Y*: —

BAMBX

• 1D: -0.39%
• 1M: -0.68%
• YTD: -0.68%
• 6M: 0.50%
• 1Y: 0.98%
• 3Y*: 5.73%
• 5Y*: 3.09%
• 10Y*: 4.22%

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

QDSNX vs. BAMBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
QDSNX AQR Diversifying Strategies Fund Class N	6.23%	16.14%	9.56%	8.62%	14.48%	10.35%	5.40%
BAMBX BlackRock Systematic Multi-Strategy Fund	-0.68%	4.59%	6.61%	6.19%	-3.23%	5.84%	-1.29%

Correlation

The correlation between QDSNX and BAMBX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jun 11, 2020	0.18

Return for Risk

QDSNX vs. BAMBX — Risk / Return Rank

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

QDSNX

QDSNX Risk / Return Rank: 93
QDSNX Sharpe Ratio Rank: 92
QDSNX Sortino Ratio Rank: 93
QDSNX Omega Ratio Rank: 87
QDSNX Calmar Ratio Rank: 98
QDSNX Martin Ratio Rank: 95

BAMBX

BAMBX Risk / Return Rank: 3
BAMBX Sharpe Ratio Rank: 4
BAMBX Sortino Ratio Rank: 3
BAMBX Omega Ratio Rank: 3
BAMBX Calmar Ratio Rank: 3
BAMBX Martin Ratio Rank: 3

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.

QDSNX vs. BAMBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Diversifying Strategies Fund Class N (QDSNX) and BlackRock Systematic Multi-Strategy Fund (BAMBX). 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.

	QDSNX	BAMBX	Difference
Sharpe ratio Return per unit of total volatility	3.12	0.21	+2.90
Sortino ratio Return per unit of downside risk	4.69	0.34	+4.35
Omega ratio Gain probability vs. loss probability	1.61	1.04	+0.57
Calmar ratio Return relative to maximum drawdown	7.87	0.19	+7.68
Martin ratio Return relative to average drawdown	22.79	0.53	+22.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QDSNX vs. BAMBX - Sharpe Ratio Comparison

The current QDSNX Sharpe Ratio is 3.12, which is higher than the BAMBX Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of QDSNX and BAMBX, 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

	QDSNX	BAMBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.12	0.21	+2.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.44	0.84	+0.60
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.63	1.27	+0.37

Drawdowns

QDSNX vs. BAMBX - Drawdown Comparison

The maximum QDSNX drawdown since its inception was -7.15%, smaller than the maximum BAMBX drawdown of -8.84%. Use the drawdown chart below to compare losses from any high point for QDSNX and BAMBX.

Drawdown Indicators

	QDSNX	BAMBX	Difference
Max Drawdown Largest peak-to-trough decline	-7.15%	-8.84%	+1.69%
Max Drawdown (1Y) Largest decline over 1 year	-1.97%	-5.19%	+3.22%
Max Drawdown (3Y) Largest decline over 3 years	-6.93%	-5.19%	-1.74%
Max Drawdown (5Y) Largest decline over 5 years	-7.15%	-6.66%	-0.49%
Max Drawdown (10Y) Largest decline over 10 years	—	-8.84%	—
Current Drawdown Current decline from peak	0.00%	-4.73%	+4.73%
Average Drawdown Average peak-to-trough decline	-1.46%	-1.25%	-0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	1.86%	-1.18%

Volatility

QDSNX vs. BAMBX - Volatility Comparison

AQR Diversifying Strategies Fund Class N (QDSNX) has a higher volatility of 1.38% compared to BlackRock Systematic Multi-Strategy Fund (BAMBX) at 1.26%. This indicates that QDSNX's price experiences larger fluctuations and is considered to be riskier than BAMBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDSNX	BAMBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.38%	1.26%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	3.58%	3.37%	+0.21%
Volatility (1Y) Calculated over the trailing 1-year period	5.00%	4.16%	+0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.63%	3.67%	+3.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.31%	3.60%	+3.71%

QDSNX vs. BAMBX - Expense Ratio Comparison

QDSNX has a 3.30% expense ratio, which is higher than BAMBX's 1.20% expense ratio.

Dividends

QDSNX vs. BAMBX - Dividend Comparison

QDSNX's dividend yield for the trailing twelve months is around 1.87%, less than BAMBX's 1.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BAMBX BlackRock Systematic Multi-Strategy Fund	1.98%	1.97%	3.86%	4.13%	4.70%	2.39%	1.09%	3.73%	8.70%	3.81%	4.82%
QDSNX AQR Diversifying Strategies Fund Class N	1.87%	1.99%	0.00%	11.18%	8.01%	5.99%	1.83%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QDSNX and BAMBX in my portfolio?

QDSNX and BAMBX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QDSNX or BAMBX?

QDSNX has higher volatility (1.38%) compared to BAMBX (1.26%). In terms of maximum drawdown, QDSNX dropped -7.15% vs BAMBX's -8.84%.

Which has better risk-adjusted returns?

QDSNX currently has the higher Sharpe Ratio (3.12 vs 0.21), 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.