QHFNX vs. QCFIX

Last updated Jun 24, 2026

QHFNX (AQR MS Fusion HV Fund Fund Class N) and QCFIX (AQR CVX Fusion Fund Class I) are both mutual funds - QHFNX is a Multistrategy fund actively managed by AQR, while QCFIX is a Systematic Trend fund actively managed by AQR. Both are actively managed. A 0.72 correlation means they provide meaningful diversification when combined. QHFNX charges 6.94%/yr vs 2.17%/yr for QCFIX.

Performance

QHFNX vs. QCFIX - Performance Comparison

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

Returns By Period

In the year-to-date period, QHFNX achieves a 1.69% return, which is significantly lower than QCFIX's 15.32% return.

QHFNX

• 1D: 1.09%
• 1M: 2.82%
• YTD: 1.69%
• 6M: 1.09%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QCFIX

• 1D: 0.23%
• 1M: -0.54%
• YTD: 15.32%
• 6M: 14.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QHFNX vs. QCFIX - Yearly Performance Comparison

	2026 (YTD)	2025
QHFNX AQR MS Fusion HV Fund Fund Class N	1.69%	4.97%
QCFIX AQR CVX Fusion Fund Class I	15.32%	2.00%

Correlation

The correlation between QHFNX and QCFIX is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 6, 2025	0.72

Return for Risk

QHFNX vs. QCFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR MS Fusion HV Fund Fund Class N (QHFNX) and AQR CVX Fusion Fund Class I (QCFIX). 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

QHFNX vs. QCFIX - Drawdown Comparison

The maximum QHFNX drawdown since its inception was -13.87%, which is greater than QCFIX's maximum drawdown of -7.93%. Use the drawdown chart below to compare losses from any high point for QHFNX and QCFIX.

Drawdown Indicators

	QHFNX	QCFIX	Difference
Max Drawdown Largest peak-to-trough decline	-13.87%	-7.93%	-5.94%
Current Drawdown Current decline from peak	-2.04%	-2.81%	+0.77%
Average Drawdown Average peak-to-trough decline	-4.86%	-1.69%	-3.17%

Volatility

Volatility by Period

	QHFNX	QCFIX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	16.89%	15.08%	+1.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.89%	15.08%	+1.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.89%	15.08%	+1.81%

QHFNX vs. QCFIX - Expense Ratio Comparison

QHFNX has a 6.94% expense ratio, which is higher than QCFIX's 2.17% expense ratio.

Dividends

QHFNX vs. QCFIX - Dividend Comparison

QHFNX has not paid dividends to shareholders, while QCFIX's dividend yield for the trailing twelve months is around 6.78%.

Position	TTM	2025
QCFIX AQR CVX Fusion Fund Class I	6.78%	7.82%
QHFNX AQR MS Fusion HV Fund Fund Class N	0.00%	0.00%

Frequently Asked Questions

Can I hold both QHFNX and QCFIX in my portfolio?

QHFNX and QCFIX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.