QHFNX vs. QLFNX

Last updated Jun 5, 2026

QHFNX (AQR MS Fusion HV Fund Fund Class N) and QLFNX (AQR LSE Fusion Fund Class N) are both mutual funds - QHFNX is a Multistrategy fund actively managed by AQR, while QLFNX is a Long-Short fund actively managed by AQR. Both are actively managed. Their correlation of 0.89 suggests significant overlap in exposure. QHFNX charges 6.94%/yr vs 6.55%/yr for QLFNX.

Performance

QHFNX vs. QLFNX - 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 LSE Fusion Fund Class N (QLFNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QHFNX achieves a 3.38% return, which is significantly higher than QLFNX's 0.17% return.

QHFNX

• 1D: -0.16%
• 1M: 8.82%
• YTD: 3.38%
• 6M: 6.82%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QLFNX

• 1D: -0.33%
• 1M: 5.52%
• YTD: 0.17%
• 6M: 3.31%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QHFNX vs. QLFNX - Yearly Performance Comparison

	2026 (YTD)	2025
QHFNX AQR MS Fusion HV Fund Fund Class N	3.38%	4.97%
QLFNX AQR LSE Fusion Fund Class N	0.17%	6.71%

Correlation

The correlation between QHFNX and QLFNX 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 7, 2025	0.89

Return for Risk

QHFNX vs. QLFNX - 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 LSE Fusion Fund Class N (QLFNX). 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

	QHFNX	QLFNX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.97	0.83	+0.14

Drawdowns

QHFNX vs. QLFNX - Drawdown Comparison

The maximum QHFNX drawdown since its inception was -13.87%, roughly equal to the maximum QLFNX drawdown of -14.54%. Use the drawdown chart below to compare losses from any high point for QHFNX and QLFNX.

Drawdown Indicators

	QHFNX	QLFNX	Difference
Max Drawdown Largest peak-to-trough decline	-13.87%	-14.54%	+0.67%
Current Drawdown Current decline from peak	-0.41%	-1.07%	+0.66%
Average Drawdown Average peak-to-trough decline	-5.01%	-5.67%	+0.66%

Volatility

Volatility by Period

	QHFNX	QLFNX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	16.24%	15.88%	+0.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.24%	15.88%	+0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.24%	15.88%	+0.36%

QHFNX vs. QLFNX - Expense Ratio Comparison

QHFNX has a 6.94% expense ratio, which is higher than QLFNX's 6.55% expense ratio.

Dividends

QHFNX vs. QLFNX - Dividend Comparison

QHFNX has not paid dividends to shareholders, while QLFNX's dividend yield for the trailing twelve months is around 0.14%.

Position	TTM	2025
QHFNX AQR MS Fusion HV Fund Fund Class N	0.00%	0.00%
QLFNX AQR LSE Fusion Fund Class N	0.14%	0.14%

Frequently Asked Questions

Can I hold both QHFNX and QLFNX in my portfolio?

QHFNX and QLFNX 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.