QLENX vs. NLSIX
Compare and contrast key facts about AQR Long-Short Equity N (QLENX) and Neuberger Berman Long Short Fund (NLSIX).
QLENX is an actively managed fund by AQR Funds. It was launched on Jul 16, 2013. NLSIX is managed by Neuberger Berman. It was launched on Dec 28, 2011.
Performance
QLENX vs. NLSIX - Performance Comparison
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QLENX vs. NLSIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QLENX AQR Long-Short Equity N | -3.31% | 34.07% | 30.18% | 23.67% | 18.92% | 30.70% | -14.18% | 1.01% | -16.64% | 15.48% |
NLSIX Neuberger Berman Long Short Fund | -3.63% | 7.20% | 7.47% | 13.10% | -6.85% | 9.01% | 15.27% | 17.11% | -6.92% | 13.39% |
Returns By Period
In the year-to-date period, QLENX achieves a -3.31% return, which is significantly higher than NLSIX's -3.63% return. Over the past 10 years, QLENX has outperformed NLSIX with an annualized return of 11.26%, while NLSIX has yielded a comparatively lower 6.37% annualized return.
QLENX
- 1D
- 0.56%
- 1M
- -2.74%
- YTD
- -3.31%
- 6M
- 4.39%
- 1Y
- 19.30%
- 3Y*
- 26.24%
- 5Y*
- 22.20%
- 10Y*
- 11.26%
NLSIX
- 1D
- 0.00%
- 1M
- -2.86%
- YTD
- -3.63%
- 6M
- -3.20%
- 1Y
- 3.47%
- 3Y*
- 6.40%
- 5Y*
- 4.72%
- 10Y*
- 6.37%
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QLENX vs. NLSIX - Expense Ratio Comparison
QLENX has a 5.18% expense ratio, which is higher than NLSIX's 1.28% expense ratio.
Return for Risk
QLENX vs. NLSIX — Risk / Return Rank
QLENX
NLSIX
QLENX vs. NLSIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Long-Short Equity N (QLENX) and Neuberger Berman Long Short Fund (NLSIX). 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.
| QLENX | NLSIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.26 | 0.57 | +1.69 |
Sortino ratioReturn per unit of downside risk | 2.93 | 0.87 | +2.06 |
Omega ratioGain probability vs. loss probability | 1.46 | 1.12 | +0.34 |
Calmar ratioReturn relative to maximum drawdown | 2.83 | 0.63 | +2.20 |
Martin ratioReturn relative to average drawdown | 11.16 | 2.31 | +8.85 |
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
| QLENX | NLSIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.26 | 0.57 | +1.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.19 | 0.72 | +1.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.07 | 0.88 | +0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.21 | 0.91 | +0.30 |
Correlation
The correlation between QLENX and NLSIX 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.
Dividends
QLENX vs. NLSIX - Dividend Comparison
QLENX's dividend yield for the trailing twelve months is around 1.69%, more than NLSIX's 0.05% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QLENX AQR Long-Short Equity N | 1.69% | 1.64% | 7.13% | 21.21% | 14.09% | 0.00% | 1.59% | 0.00% | 6.09% | 8.91% | 2.87% | 4.91% |
NLSIX Neuberger Berman Long Short Fund | 0.05% | 0.05% | 0.02% | 0.97% | 7.01% | 1.13% | 2.15% | 2.39% | 5.91% | 0.00% | 0.00% | 0.01% |
Drawdowns
QLENX vs. NLSIX - Drawdown Comparison
The maximum QLENX drawdown since its inception was -38.50%, which is greater than NLSIX's maximum drawdown of -14.75%. Use the drawdown chart below to compare losses from any high point for QLENX and NLSIX.
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Drawdown Indicators
| QLENX | NLSIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.50% | -14.75% | -23.75% |
Max Drawdown (1Y)Largest decline over 1 year | -6.50% | -4.39% | -2.11% |
Max Drawdown (5Y)Largest decline over 5 years | -17.19% | -10.79% | -6.40% |
Max Drawdown (10Y)Largest decline over 10 years | -38.50% | -14.75% | -23.75% |
Current DrawdownCurrent decline from peak | -3.91% | -4.39% | +0.48% |
Average DrawdownAverage peak-to-trough decline | -7.55% | -2.03% | -5.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.65% | 1.19% | +0.46% |
Volatility
QLENX vs. NLSIX - Volatility Comparison
AQR Long-Short Equity N (QLENX) and Neuberger Berman Long Short Fund (NLSIX) have volatilities of 1.92% and 1.89%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QLENX | NLSIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.92% | 1.89% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 4.92% | 3.40% | +1.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.66% | 6.34% | +2.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.22% | 6.63% | +3.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.55% | 7.29% | +3.26% |