QLEIX vs. QMNIX
Compare and contrast key facts about AQR Long-Short Equity Fund (QLEIX) and AQR Equity Market Neutral Fund Class I (QMNIX).
QLEIX is managed by AQR Funds. It was launched on Jul 15, 2013. QMNIX is an actively managed fund by AQR Funds. It was launched on Oct 7, 2014.
Performance
QLEIX vs. QMNIX - Performance Comparison
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QLEIX vs. QMNIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QLEIX AQR Long-Short Equity Fund | -3.26% | 34.43% | 30.50% | 23.95% | 19.18% | 31.10% | -13.92% | 1.19% | -16.33% | 15.74% |
QMNIX AQR Equity Market Neutral Fund Class I | -3.36% | 26.54% | 25.85% | 16.61% | 27.26% | 17.64% | -19.62% | -11.30% | -11.73% | 5.85% |
Returns By Period
The year-to-date returns for both stocks are quite close, with QLEIX having a -3.26% return and QMNIX slightly lower at -3.36%. Over the past 10 years, QLEIX has outperformed QMNIX with an annualized return of 11.54%, while QMNIX has yielded a comparatively lower 6.35% annualized return.
QLEIX
- 1D
- 0.54%
- 1M
- -2.71%
- YTD
- -3.26%
- 6M
- 4.53%
- 1Y
- 19.60%
- 3Y*
- 26.54%
- 5Y*
- 22.51%
- 10Y*
- 11.54%
QMNIX
- 1D
- 0.50%
- 1M
- 0.25%
- YTD
- -3.36%
- 6M
- 2.43%
- 1Y
- 11.48%
- 3Y*
- 21.07%
- 5Y*
- 18.62%
- 10Y*
- 6.35%
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QLEIX vs. QMNIX - Expense Ratio Comparison
QLEIX has a 1.30% expense ratio, which is lower than QMNIX's 5.48% expense ratio.
Return for Risk
QLEIX vs. QMNIX — Risk / Return Rank
QLEIX
QMNIX
QLEIX vs. QMNIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Long-Short Equity Fund (QLEIX) and AQR Equity Market Neutral Fund Class I (QMNIX). 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 | QMNIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.30 | 1.86 | +0.44 |
Sortino ratioReturn per unit of downside risk | 2.98 | 2.52 | +0.45 |
Omega ratioGain probability vs. loss probability | 1.47 | 1.36 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 2.88 | 2.13 | +0.75 |
Martin ratioReturn relative to average drawdown | 11.49 | 5.42 | +6.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QLEIX | QMNIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.30 | 1.86 | +0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.21 | 1.97 | +0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.10 | 0.78 | +0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.11 | 0.91 | +0.20 |
Correlation
The correlation between QLEIX and QMNIX is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
QLEIX vs. QMNIX - Dividend Comparison
QLEIX's dividend yield for the trailing twelve months is around 1.81%, more than QMNIX's 1.46% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QLEIX AQR Long-Short Equity Fund | 1.81% | 1.75% | 7.12% | 20.88% | 14.15% | 0.00% | 1.57% | 0.00% | 6.03% | 9.11% | 3.01% | 4.98% |
QMNIX AQR Equity Market Neutral Fund Class I | 1.46% | 1.41% | 6.10% | 21.48% | 5.95% | 1.39% | 17.42% | 3.83% | 0.48% | 3.48% | 1.51% | 2.57% |
Drawdowns
QLEIX vs. QMNIX - Drawdown Comparison
The maximum QLEIX drawdown since its inception was -38.11%, roughly equal to the maximum QMNIX drawdown of -38.80%. Use the drawdown chart below to compare losses from any high point for QLEIX and QMNIX.
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Drawdown Indicators
| QLEIX | QMNIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.11% | -38.80% | +0.69% |
Max Drawdown (1Y)Largest decline over 1 year | -6.49% | -5.43% | -1.06% |
Max Drawdown (5Y)Largest decline over 5 years | -17.07% | -14.05% | -3.02% |
Max Drawdown (10Y)Largest decline over 10 years | -38.11% | -38.80% | +0.69% |
Current DrawdownCurrent decline from peak | -3.85% | -3.67% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -7.80% | -10.39% | +2.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 2.14% | -0.51% |
Volatility
QLEIX vs. QMNIX - Volatility Comparison
AQR Long-Short Equity Fund (QLEIX) has a higher volatility of 1.87% compared to AQR Equity Market Neutral Fund Class I (QMNIX) at 1.35%. This indicates that QLEIX's price experiences larger fluctuations and is considered to be riskier than QMNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QLEIX | QMNIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.87% | 1.35% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 4.89% | 4.16% | +0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.63% | 6.32% | +2.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.23% | 9.50% | +0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.55% | 8.22% | +2.33% |