QLEIX vs. EQLS

Last updated Jun 3, 2026

QLEIX (AQR Long-Short Equity Fund) and EQLS (Simplify Market Neutral Equity Long/Short ETF) are both Long-Short funds. 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: 1.14%
• 1M: 3.60%
• YTD: 0.57%
• 6M: 4.63%
• 1Y: 16.38%
• 3Y*: 27.80%
• 5Y*: 22.10%
• 10Y*: 12.04%

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	0.57%	34.43%	30.50%	15.47%
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	6.82%	-4.82%	-3.63%

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 (All Time) Calculated using the full available price history since Jun 15, 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: 61
QLEIX Sharpe Ratio Rank: 68
QLEIX Sortino Ratio Rank: 73
QLEIX Omega Ratio Rank: 64
QLEIX Calmar Ratio Rank: 57
QLEIX Martin Ratio Rank: 43

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.

	QLEIX	EQLS	Difference
Sharpe ratio Return per unit of total volatility	2.41	—	—
Sortino ratio Return per unit of downside risk	3.55	—	—
Omega ratio Gain probability vs. loss probability	1.45	—	—
Calmar ratio Return relative to maximum drawdown	2.92	—	—
Martin ratio Return relative to average drawdown	9.22	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	QLEIX	EQLS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.20	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	—	—

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	-0.05%	—	—
Average Drawdown Average peak-to-trough decline	-7.73%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	—	—

Volatility

Volatility by Period

	QLEIX	EQLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.16%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.25%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.11%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.58%	—	—

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 1.74%, 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	1.74%	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.