QICLX vs. FAOAX
QICLX (AQR International Multi-Style Fund) and FAOAX (Fidelity Advisor Overseas Fund Class A) are both Foreign Large Cap Equities funds. Over the past 10 years, QICLX returned 10.64%/yr vs 7.60%/yr for FAOAX. Their correlation of 0.89 suggests significant overlap in exposure. QICLX charges 0.56%/yr vs 1.43%/yr for FAOAX.
Performance
QICLX vs. FAOAX - Performance Comparison
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Returns By Period
Over the past 10 years, QICLX has outperformed FAOAX with an annualized return of 10.64%, while FAOAX has yielded a comparatively lower 7.60% annualized return.
QICLX
- 1D
- 0.49%
- 1M
- 0.16%
- 6M
- 5.92%
- YTD
- 10.38%
- 1Y
- 25.30%
- 3Y*
- 20.45%
- 5Y*
- 11.80%
- 10Y*
- 10.64%
FAOAX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- -2.55%
- 3Y*
- 7.44%
- 5Y*
- 2.88%
- 10Y*
- 7.60%
QICLX vs. FAOAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QICLX AQR International Multi-Style Fund | 10.38% | 42.80% | 4.86% | 19.55% | -12.22% | 12.24% | 6.04% | 20.42% | -14.75% | 24.96% |
FAOAX Fidelity Advisor Overseas Fund Class A | 0.00% | 14.93% | 4.63% | 20.01% | -24.61% | 18.90% | 14.71% | 27.39% | -15.10% | 29.66% |
Correlation
The correlation between QICLX and FAOAX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014 | 0.89 |
Over the past year, the correlation between QICLX and FAOAX has dropped to 0.49 - well below their long-term average of 0.89, suggesting their price drivers have been diverging.
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Return for Risk
QICLX vs. FAOAX — Risk / Return Rank
QICLX
FAOAX
QICLX vs. FAOAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR International Multi-Style Fund (QICLX) and Fidelity Advisor Overseas Fund Class A (FAOAX). 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.
| QICLX | FAOAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.09 | ||
| Sortino ratioReturn per unit of downside risk | +2.84 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.91 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | -0.49 | +2.84 |
| Martin ratioReturn relative to average drawdown | 8.59 | -0.76 | +9.35 |
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Drawdowns
QICLX vs. FAOAX - Drawdown Comparison
The maximum QICLX drawdown since its inception was -36.19%, smaller than the maximum FAOAX drawdown of -60.03%. Use the drawdown chart below to compare losses from any high point for QICLX and FAOAX.
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Drawdown Indicators
| QICLX | FAOAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.19% | -60.03% | +23.84% |
Max Drawdown (1Y)Largest decline over 1 year | -11.11% | -7.29% | -3.82% |
Max Drawdown (3Y)Largest decline over 3 years | -13.84% | -13.99% | +0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -28.09% | -36.50% | +8.41% |
Max Drawdown (10Y)Largest decline over 10 years | -36.19% | -36.50% | +0.31% |
Current DrawdownCurrent decline from peak | -1.06% | -5.87% | +4.81% |
Average DrawdownAverage peak-to-trough decline | -7.63% | -14.53% | +6.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.04% | 4.33% | -1.29% |
Volatility
QICLX vs. FAOAX - Volatility Comparison
AQR International Multi-Style Fund (QICLX) has a higher volatility of 4.00% compared to Fidelity Advisor Overseas Fund Class A (FAOAX) at 0.00%. This indicates that QICLX's price experiences larger fluctuations and is considered to be riskier than FAOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QICLX | FAOAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.00% | 0.00% | +4.00% |
Volatility (6M)Calculated over the trailing 6-month period | 13.45% | 2.61% | +10.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.84% | 8.28% | +7.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.34% | 16.69% | -0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.47% | 16.29% | +0.18% |
QICLX vs. FAOAX - Expense Ratio Comparison
QICLX has a 0.56% expense ratio, which is lower than FAOAX's 1.43% expense ratio.
Dividends
QICLX vs. FAOAX - Dividend Comparison
QICLX's dividend yield for the trailing twelve months is around 7.73%, less than FAOAX's 8.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAOAX Fidelity Advisor Overseas Fund Class A | 8.54% | 8.54% | 1.33% | 0.74% | 0.38% | 2.12% | 0.00% | 1.37% | 4.64% | 3.64% | 1.75% | 0.38% |
QICLX AQR International Multi-Style Fund | 7.73% | 8.54% | 5.68% | 3.25% | 3.22% | 2.97% | 1.79% | 2.93% | 3.79% | 2.42% | 2.64% | 1.41% |
Frequently Asked Questions
QICLX and FAOAX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QICLX has higher volatility (4.00%) compared to FAOAX (0.00%). In terms of maximum drawdown, QICLX dropped -36.19% vs FAOAX's -60.03%.
QICLX currently has the higher Sharpe Ratio (1.66 vs -0.43), 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.
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