QLEIX vs. EQLS

Last updated Jun 24, 2026

QLEIX (AQR Long-Short Equity Fund) and EQLS (Simplify Market Neutral Equity Long/Short ETF) are both Long-Short funds. Both are actively managed. At a 0.22 correlation, their price movements are largely independent. QLEIX charges 1.30%/yr vs 1.00%/yr for EQLS.

Performance

QLEIX vs. EQLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Long-Short Equity Fund (QLEIX) and Simplify Market Neutral Equity Long/Short ETF (EQLS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QLEIX

• 1D: 0.19%
• 1M: 1.15%
• YTD: -0.52%
• 6M: -1.13%
• 1Y: 15.49%
• 3Y*: 25.79%
• 5Y*: 23.47%
• 10Y*: 12.26%

EQLS

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QLEIX vs. EQLS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QLEIX AQR Long-Short Equity Fund	-0.52%	34.43%	30.50%	15.39%
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	6.82%	-4.82%	-3.67%

Correlation

The correlation between QLEIX and EQLS is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (All Time) Calculated using the full available price history since Jun 14, 2023	0.22

Return for Risk

QLEIX vs. EQLS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QLEIX

QLEIX Risk / Return Rank: 57
QLEIX Sharpe Ratio Rank: 64
QLEIX Sortino Ratio Rank: 69
QLEIX Omega Ratio Rank: 61
QLEIX Calmar Ratio Rank: 52
QLEIX Martin Ratio Rank: 40

EQLS

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

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QLEIX vs. EQLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Long-Short Equity Fund (QLEIX) and Simplify Market Neutral Equity Long/Short ETF (EQLS). 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.

	QLEIX	EQLS	Difference
Sharpe ratio: Return per unit of total volatility	2.16	—	—
Sortino ratio: Return per unit of downside risk	3.15	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	2.64	—	—
Martin ratio: Return relative to average drawdown	8.20	—	—

Drawdowns

Drawdown Indicators

	QLEIX	EQLS	Difference
Max Drawdown Largest peak-to-trough decline	-38.11%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-6.01%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-7.07%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.07%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.11%	—	—
Current Drawdown Current decline from peak	-1.13%	—	—
Average Drawdown Average peak-to-trough decline	-7.70%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	—	—

Volatility

Volatility by Period

	QLEIX	EQLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.76%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.37%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.02%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.59%	—	—

QLEIX vs. EQLS - Expense Ratio Comparison

QLEIX has a 1.30% expense ratio, which is higher than EQLS's 1.00% expense ratio.

Dividends

QLEIX vs. EQLS - Dividend Comparison

QLEIX's dividend yield for the trailing twelve months is around 1.76%, while EQLS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	0.45%	0.95%	8.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QLEIX AQR Long-Short Equity Fund	1.76%	1.75%	7.12%	20.88%	14.15%	0.00%	1.57%	0.00%	6.03%	9.11%	3.01%	4.98%

Frequently Asked Questions

Can I hold both QLEIX and EQLS in my portfolio?

QLEIX and EQLS have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.