QLEIX vs. QMNNX
Compare and contrast key facts about AQR Long-Short Equity Fund (QLEIX) and AQR Equity Market Neutral Fund N (QMNNX).
QLEIX is managed by AQR Funds. It was launched on Jul 15, 2013. QMNNX is managed by AQR Funds. It was launched on Oct 7, 2014.
Performance
QLEIX vs. QMNNX - Performance Comparison
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QLEIX vs. QMNNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QLEIX AQR Long-Short Equity Fund | -2.98% | 34.43% | 30.50% | 23.95% | 19.18% | 31.10% | -13.92% | 1.19% | -16.33% | 15.74% |
QMNNX AQR Equity Market Neutral Fund N | -3.52% | 26.19% | 25.43% | 16.30% | 27.07% | 17.38% | -19.79% | -11.55% | -11.94% | 5.56% |
Returns By Period
In the year-to-date period, QLEIX achieves a -2.98% return, which is significantly higher than QMNNX's -3.52% return. Over the past 10 years, QLEIX has outperformed QMNNX with an annualized return of 11.57%, while QMNNX has yielded a comparatively lower 6.07% annualized return.
QLEIX
- 1D
- 0.29%
- 1M
- -1.96%
- YTD
- -2.98%
- 6M
- 4.47%
- 1Y
- 19.47%
- 3Y*
- 26.66%
- 5Y*
- 22.56%
- 10Y*
- 11.57%
QMNNX
- 1D
- -0.17%
- 1M
- 0.43%
- YTD
- -3.52%
- 6M
- 1.87%
- 1Y
- 10.76%
- 3Y*
- 20.68%
- 5Y*
- 18.37%
- 10Y*
- 6.07%
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QLEIX vs. QMNNX - Expense Ratio Comparison
QLEIX has a 1.30% expense ratio, which is lower than QMNNX's 5.28% expense ratio.
Return for Risk
QLEIX vs. QMNNX — Risk / Return Rank
QLEIX
QMNNX
QLEIX vs. QMNNX - 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 N (QMNNX). 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 | QMNNX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.33 | 1.77 | +0.56 |
Sortino ratioReturn per unit of downside risk | 3.01 | 2.40 | +0.61 |
Omega ratioGain probability vs. loss probability | 1.48 | 1.33 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 3.10 | 2.06 | +1.03 |
Martin ratioReturn relative to average drawdown | 12.22 | 5.15 | +7.07 |
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 | QMNNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.33 | 1.77 | +0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.22 | 1.94 | +0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.10 | 0.74 | +0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.11 | 0.87 | +0.24 |
Correlation
The correlation between QLEIX and QMNNX 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. QMNNX - Dividend Comparison
QLEIX's dividend yield for the trailing twelve months is around 1.81%, more than QMNNX's 1.30% 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% |
QMNNX AQR Equity Market Neutral Fund N | 1.30% | 1.26% | 6.06% | 21.67% | 5.77% | 1.41% | 17.64% | 3.86% | 0.49% | 3.37% | 1.19% | 2.51% |
Drawdowns
QLEIX vs. QMNNX - Drawdown Comparison
The maximum QLEIX drawdown since its inception was -38.11%, roughly equal to the maximum QMNNX drawdown of -39.22%. Use the drawdown chart below to compare losses from any high point for QLEIX and QMNNX.
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Drawdown Indicators
| QLEIX | QMNNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.11% | -39.22% | +1.11% |
Max Drawdown (1Y)Largest decline over 1 year | -6.49% | -5.47% | -1.02% |
Max Drawdown (5Y)Largest decline over 5 years | -17.07% | -14.23% | -2.84% |
Max Drawdown (10Y)Largest decline over 10 years | -38.11% | -39.22% | +1.11% |
Current DrawdownCurrent decline from peak | -3.57% | -3.92% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -7.80% | -10.67% | +2.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.64% | 2.19% | -0.55% |
Volatility
QLEIX vs. QMNNX - Volatility Comparison
AQR Long-Short Equity Fund (QLEIX) has a higher volatility of 1.88% compared to AQR Equity Market Neutral Fund N (QMNNX) at 1.36%. This indicates that QLEIX's price experiences larger fluctuations and is considered to be riskier than QMNNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QLEIX | QMNNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.88% | 1.36% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 4.90% | 4.07% | +0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.61% | 6.29% | +2.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.22% | 9.53% | +0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.55% | 8.23% | +2.32% |