QHFIX vs. QMFIX

Last updated Jun 23, 2026

QHFIX (AQR MS Fusion HV Fund Fund Class I) and QMFIX (AQR MS Fusion Fund Class I) are both Multistrategy funds from AQR. Both are actively managed. Their correlation of 0.89 suggests significant overlap in exposure. QHFIX charges 6.69%/yr vs 3.55%/yr for QMFIX.

Performance

QHFIX vs. QMFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR MS Fusion HV Fund Fund Class I (QHFIX) and AQR MS Fusion Fund Class I (QMFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QHFIX achieves a 0.76% return, which is significantly lower than QMFIX's 8.28% return.

QHFIX

• 1D: 0.51%
• 1M: 1.79%
• YTD: 0.76%
• 6M: 0.17%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QMFIX

• 1D: 0.73%
• 1M: 0.57%
• YTD: 8.28%
• 6M: 7.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QHFIX vs. QMFIX - Yearly Performance Comparison

	2026 (YTD)	2025
QHFIX AQR MS Fusion HV Fund Fund Class I	0.76%	4.97%
QMFIX AQR MS Fusion Fund Class I	8.28%	3.63%

Correlation

The correlation between QHFIX and QMFIX is 0.89, 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	0.89

Return for Risk

QHFIX vs. QMFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR MS Fusion HV Fund Fund Class I (QHFIX) and AQR MS Fusion Fund Class I (QMFIX). 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

QHFIX vs. QMFIX - Drawdown Comparison

The maximum QHFIX drawdown since its inception was -13.85%, which is greater than QMFIX's maximum drawdown of -10.27%. Use the drawdown chart below to compare losses from any high point for QHFIX and QMFIX.

Drawdown Indicators

	QHFIX	QMFIX	Difference
Max Drawdown Largest peak-to-trough decline	-13.85%	-10.27%	-3.58%
Current Drawdown Current decline from peak	-3.09%	-2.89%	-0.20%
Average Drawdown Average peak-to-trough decline	-4.88%	-2.28%	-2.60%

Volatility

Volatility by Period

	QHFIX	QMFIX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	17.00%	14.95%	+2.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.00%	14.95%	+2.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.00%	14.95%	+2.05%

QHFIX vs. QMFIX - Expense Ratio Comparison

QHFIX has a 6.69% expense ratio, which is higher than QMFIX's 3.55% expense ratio.

Dividends

QHFIX vs. QMFIX - Dividend Comparison

QHFIX has not paid dividends to shareholders, while QMFIX's dividend yield for the trailing twelve months is around 0.42%.

Position	TTM	2025
QHFIX AQR MS Fusion HV Fund Fund Class I	0.00%	0.00%
QMFIX AQR MS Fusion Fund Class I	0.42%	0.46%

Frequently Asked Questions

Can I hold both QHFIX and QMFIX in my portfolio?

QHFIX and QMFIX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.