QLEIX vs. BIVRX
Compare and contrast key facts about AQR Long-Short Equity Fund (QLEIX) and Invenomic Fund (BIVRX).
QLEIX is managed by AQR Funds. It was launched on Jul 15, 2013. BIVRX is managed by Invenomic. It was launched on Jun 18, 2017.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: QLEIX or BIVRX.
Key characteristics
| QLEIX | BIVRX | |
|---|---|---|
| YTD Return | 16.67% | -6.06% |
| 1Y Return | 37.41% | -3.55% |
| 3Y Return (Ann) | 23.03% | 24.74% |
| 5Y Return (Ann) | 14.43% | 24.97% |
| Sharpe Ratio | 1.38 | -0.14 |
| Daily Std Dev | 27.18% | 28.38% |
| Max Drawdown | -39.20% | -25.39% |
| Current Drawdown | -4.01% | -21.77% |
Correlation
The correlation between QLEIX and BIVRX is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
QLEIX vs. BIVRX - Performance Comparison
In the year-to-date period, QLEIX achieves a 16.67% return, which is significantly higher than BIVRX's -6.06% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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QLEIX vs. BIVRX - Expense Ratio Comparison
QLEIX has a 1.30% expense ratio, which is lower than BIVRX's 2.48% expense ratio.
Risk-Adjusted Performance
QLEIX vs. BIVRX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Long-Short Equity Fund (QLEIX) and Invenomic Fund (BIVRX). 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.
Dividends
QLEIX vs. BIVRX - Dividend Comparison
QLEIX's dividend yield for the trailing twelve months is around 17.89%, less than BIVRX's 21.56% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QLEIX AQR Long-Short Equity Fund | 17.89% | 20.87% | 14.15% | 0.00% | 1.57% | 0.00% | 6.03% | 9.11% | 3.01% | 4.98% | 0.89% | 8.81% |
BIVRX Invenomic Fund | 21.56% | 20.26% | 28.43% | 14.52% | 3.11% | 3.21% | 4.82% | 1.21% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
QLEIX vs. BIVRX - Drawdown Comparison
The maximum QLEIX drawdown since its inception was -39.20%, which is greater than BIVRX's maximum drawdown of -25.39%. Use the drawdown chart below to compare losses from any high point for QLEIX and BIVRX. For additional features, visit the drawdowns tool.
Volatility
QLEIX vs. BIVRX - Volatility Comparison
The current volatility for AQR Long-Short Equity Fund (QLEIX) is 2.44%, while Invenomic Fund (BIVRX) has a volatility of 3.05%. This indicates that QLEIX experiences smaller price fluctuations and is considered to be less risky than BIVRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.