QLEIX vs. QQQ
Compare and contrast key facts about AQR Long-Short Equity Fund (QLEIX) and Invesco QQQ (QQQ).
QLEIX is managed by AQR Funds. It was launched on Jul 15, 2013. QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: QLEIX or QQQ.
Key characteristics
| QLEIX | QQQ | |
|---|---|---|
| YTD Return | 17.12% | 5.81% |
| 1Y Return | 38.05% | 35.06% |
| 3Y Return (Ann) | 23.22% | 9.32% |
| 5Y Return (Ann) | 14.46% | 18.88% |
| 10Y Return (Ann) | 10.14% | 18.36% |
| Sharpe Ratio | 1.42 | 2.23 |
| Daily Std Dev | 27.23% | 16.14% |
| Max Drawdown | -39.20% | -82.98% |
| Current Drawdown | -3.63% | -3.05% |
Correlation
The correlation between QLEIX and QQQ is 0.39, 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. QQQ - Performance Comparison
In the year-to-date period, QLEIX achieves a 17.12% return, which is significantly higher than QQQ's 5.81% return. Over the past 10 years, QLEIX has underperformed QQQ with an annualized return of 10.14%, while QQQ has yielded a comparatively higher 18.36% annualized 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. QQQ - Expense Ratio Comparison
QLEIX has a 1.30% expense ratio, which is higher than QQQ's 0.20% expense ratio.
Risk-Adjusted Performance
QLEIX vs. QQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Long-Short Equity Fund (QLEIX) and Invesco QQQ (QQQ). 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. QQQ - Dividend Comparison
QLEIX's dividend yield for the trailing twelve months is around 17.82%, more than QQQ's 0.61% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QLEIX AQR Long-Short Equity Fund | 17.82% | 20.87% | 14.15% | 0.00% | 1.57% | 0.00% | 6.03% | 9.11% | 3.01% | 4.98% | 0.89% | 8.81% |
QQQ Invesco QQQ | 0.61% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% | 1.41% | 1.01% |
Drawdowns
QLEIX vs. QQQ - Drawdown Comparison
The maximum QLEIX drawdown since its inception was -39.20%, smaller than the maximum QQQ drawdown of -82.98%. Use the drawdown chart below to compare losses from any high point for QLEIX and QQQ. For additional features, visit the drawdowns tool.
Volatility
QLEIX vs. QQQ - Volatility Comparison
The current volatility for AQR Long-Short Equity Fund (QLEIX) is 2.40%, while Invesco QQQ (QQQ) has a volatility of 5.15%. This indicates that QLEIX experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.