QHFIX vs. QMFNX

Last updated Apr 1, 2026

Compare and contrast key facts about AQR MS Fusion HV Fund Fund Class I (QHFIX) and AQR MS Fusion Fund Class N (QMFNX).

QHFIX is an actively managed fund by AQR. It was launched on Jun 25, 2025. QMFNX is an actively managed fund by AQR. It was launched on Jun 25, 2025.

Performance

QHFIX vs. QMFNX - 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 N (QMFNX). The values are adjusted to include any dividend payments, if applicable.

QHFIX vs. QMFNX - Yearly Performance Comparison

	2026 (YTD)	2025
QHFIX AQR MS Fusion HV Fund Fund Class I	-12.09%	4.97%
QMFNX AQR MS Fusion Fund Class N	-8.73%	3.54%

Returns By Period

In the year-to-date period, QHFIX achieves a -12.09% return, which is significantly lower than QMFNX's -8.73% return.

QHFIX

• 1D: 0.10%
• 1M: -9.25%
• YTD: -12.09%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QMFNX

• 1D: -0.38%
• 1M: -8.89%
• YTD: -8.73%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QHFIX vs. QMFNX - Expense Ratio Comparison

QHFIX has a 6.69% expense ratio, which is higher than QMFNX's 3.80% expense ratio.

QHFIX

AQR MS Fusion HV Fund Fund Class I

QMFNX

AQR MS Fusion Fund Class N

Return for Risk

QHFIX vs. QMFNX - 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 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.

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

Sharpe Ratios by Period

	QHFIX	QMFNX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-1.16	-1.00	-0.16

Correlation

The correlation between QHFIX and QMFNX is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

QHFIX vs. QMFNX - Dividend Comparison

QHFIX has not paid dividends to shareholders, while QMFNX's dividend yield for the trailing twelve months is around 0.41%.

	TTM	2025
QHFIX AQR MS Fusion HV Fund Fund Class I	0.00%	0.00%
QMFNX AQR MS Fusion Fund Class N	0.41%	0.37%

Drawdowns

QHFIX vs. QMFNX - Drawdown Comparison

The maximum QHFIX drawdown since its inception was -13.85%, which is greater than QMFNX's maximum drawdown of -10.37%. Use the drawdown chart below to compare losses from any high point for QHFIX and QMFNX.

Drawdown Indicators

	QHFIX	QMFNX	Difference
Max Drawdown Largest peak-to-trough decline	-13.85%	-10.37%	-3.48%
Current Drawdown Current decline from peak	-13.76%	-10.37%	-3.39%
Average Drawdown Average peak-to-trough decline	-4.29%	-2.41%	-1.88%

Volatility

Volatility by Period

	QHFIX	QMFNX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	16.33%	14.62%	+1.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.33%	14.62%	+1.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.33%	14.62%	+1.71%