QDSNX vs. ICSH
QDSNX (AQR Diversifying Strategies Fund Class N) and ICSH (iShares Ultra Short Duration Bond Active ETF) are both funds - QDSNX is a Tactical Allocation fund actively managed by AQR Funds, while ICSH is a Ultrashort Bond fund actively managed by iShares. Both are actively managed. Over the past 5 years, QDSNX returned 10.67%/yr vs 3.67%/yr for ICSH. At a correlation of -0.08, they often move in opposite directions. QDSNX charges 3.30%/yr vs 0.08%/yr for ICSH.
Performance
QDSNX vs. ICSH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, QDSNX achieves a 5.44% return, which is significantly higher than ICSH's 1.43% return.
QDSNX
- 1D
- -0.61%
- 1M
- 0.55%
- YTD
- 5.44%
- 6M
- 7.09%
- 1Y
- 14.00%
- 3Y*
- 13.28%
- 5Y*
- 10.67%
- 10Y*
- —
ICSH
- 1D
- 0.02%
- 1M
- 0.18%
- YTD
- 1.43%
- 6M
- 1.75%
- 1Y
- 4.30%
- 3Y*
- 5.15%
- 5Y*
- 3.67%
- 10Y*
- 2.77%
QDSNX vs. ICSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
QDSNX AQR Diversifying Strategies Fund Class N | 5.44% | 16.14% | 9.56% | 8.62% | 14.48% | 10.35% | 5.40% |
ICSH iShares Ultra Short Duration Bond Active ETF | 1.43% | 4.96% | 5.52% | 5.58% | 0.97% | 0.16% | 0.41% |
Correlation
The correlation between QDSNX and ICSH is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2020 | -0.08 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
QDSNX vs. ICSH — Risk / Return Rank
QDSNX
ICSH
QDSNX vs. ICSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Diversifying Strategies Fund Class N (QDSNX) and iShares Ultra Short Duration Bond Active ETF (ICSH). 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 | ICSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.22 | ||
| Sortino ratioReturn per unit of downside risk | -23.20 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 6.56 | -5.03 |
| Calmar ratioReturn relative to maximum drawdown | 7.11 | 43.67 | -36.56 |
| Martin ratioReturn relative to average drawdown | 20.51 | 288.81 | -268.30 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| QDSNX | ICSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.79 | 11.01 | -8.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.40 | 7.62 | -6.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 2.63 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.61 | 1.93 | -0.32 |
Drawdowns
QDSNX vs. ICSH - Drawdown Comparison
The maximum QDSNX drawdown since its inception was -7.15%, which is greater than ICSH's maximum drawdown of -3.94%. Use the drawdown chart below to compare losses from any high point for QDSNX and ICSH.
Loading charts...
Drawdown Indicators
| QDSNX | ICSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.15% | -3.94% | -3.21% |
Max Drawdown (1Y)Largest decline over 1 year | -1.97% | -0.10% | -1.87% |
Max Drawdown (3Y)Largest decline over 3 years | -6.93% | -0.10% | -6.83% |
Max Drawdown (5Y)Largest decline over 5 years | -7.15% | -0.73% | -6.42% |
Max Drawdown (10Y)Largest decline over 10 years | — | -3.94% | — |
Current DrawdownCurrent decline from peak | -0.88% | -0.02% | -0.86% |
Average DrawdownAverage peak-to-trough decline | -1.45% | -0.08% | -1.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 0.01% | +0.67% |
Volatility
QDSNX vs. ICSH - Volatility Comparison
AQR Diversifying Strategies Fund Class N (QDSNX) has a higher volatility of 1.55% compared to iShares Ultra Short Duration Bond Active ETF (ICSH) at 0.15%. This indicates that QDSNX's price experiences larger fluctuations and is considered to be riskier than ICSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| QDSNX | ICSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 0.15% | +1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 3.61% | 0.30% | +3.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.02% | 0.39% | +4.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.63% | 0.48% | +7.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.31% | 1.06% | +6.25% |
QDSNX vs. ICSH - Expense Ratio Comparison
QDSNX has a 3.30% expense ratio, which is higher than ICSH's 0.08% expense ratio.
Dividends
QDSNX vs. ICSH - Dividend Comparison
QDSNX's dividend yield for the trailing twelve months is around 1.89%, less than ICSH's 4.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICSH iShares Ultra Short Duration Bond Active ETF | 4.34% | 4.55% | 5.24% | 4.78% | 1.66% | 0.42% | 1.21% | 2.61% | 2.20% | 1.36% | 0.88% | 0.54% |
QDSNX AQR Diversifying Strategies Fund Class N | 1.89% | 1.99% | 0.00% | 11.18% | 8.01% | 5.99% | 1.83% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QDSNX and ICSH have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QDSNX has higher volatility (1.55%) compared to ICSH (0.15%). In terms of maximum drawdown, QDSNX dropped -7.15% vs ICSH's -3.94%.
ICSH currently has the higher Sharpe Ratio (11.01 vs 2.79), 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.
Find the right allocation for QDSNX and ICSH
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer