QLENX vs. QMNNX
Compare and contrast key facts about AQR Long-Short Equity N (QLENX) and AQR Equity Market Neutral Fund N (QMNNX).
QLENX is an actively managed fund by AQR Funds. It was launched on Jul 16, 2013. QMNNX is managed by AQR Funds. It was launched on Oct 7, 2014.
Performance
QLENX vs. QMNNX - Performance Comparison
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QLENX vs. QMNNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QLENX AQR Long-Short Equity N | -3.02% | 34.07% | 30.18% | 23.67% | 18.92% | 30.70% | -14.18% | 1.01% | -16.64% | 15.48% |
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, QLENX achieves a -3.02% return, which is significantly higher than QMNNX's -3.52% return. Over the past 10 years, QLENX has outperformed QMNNX with an annualized return of 11.29%, while QMNNX has yielded a comparatively lower 6.07% annualized return.
QLENX
- 1D
- 0.30%
- 1M
- -1.97%
- YTD
- -3.02%
- 6M
- 4.33%
- 1Y
- 19.17%
- 3Y*
- 26.36%
- 5Y*
- 22.25%
- 10Y*
- 11.29%
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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QLENX vs. QMNNX - Expense Ratio Comparison
QLENX has a 5.18% expense ratio, which is lower than QMNNX's 5.28% expense ratio.
Return for Risk
QLENX vs. QMNNX — Risk / Return Rank
QLENX
QMNNX
QLENX vs. QMNNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Long-Short Equity N (QLENX) 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.
| QLENX | QMNNX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.28 | 1.77 | +0.52 |
Sortino ratioReturn per unit of downside risk | 2.96 | 2.40 | +0.56 |
Omega ratioGain probability vs. loss probability | 1.47 | 1.33 | +0.13 |
Calmar ratioReturn relative to maximum drawdown | 3.05 | 2.06 | +0.99 |
Martin ratioReturn relative to average drawdown | 11.90 | 5.15 | +6.75 |
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 | QMNNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.28 | 1.77 | +0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.19 | 1.94 | +0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.07 | 0.74 | +0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.21 | 0.87 | +0.33 |
Correlation
The correlation between QLENX 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
QLENX vs. QMNNX - Dividend Comparison
QLENX's dividend yield for the trailing twelve months is around 1.69%, more than QMNNX's 1.30% 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% |
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
QLENX vs. QMNNX - Drawdown Comparison
The maximum QLENX drawdown since its inception was -38.50%, roughly equal to the maximum QMNNX drawdown of -39.22%. Use the drawdown chart below to compare losses from any high point for QLENX and QMNNX.
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Drawdown Indicators
| QLENX | QMNNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.50% | -39.22% | +0.72% |
Max Drawdown (1Y)Largest decline over 1 year | -6.50% | -5.47% | -1.03% |
Max Drawdown (5Y)Largest decline over 5 years | -17.19% | -14.23% | -2.96% |
Max Drawdown (10Y)Largest decline over 10 years | -38.50% | -39.22% | +0.72% |
Current DrawdownCurrent decline from peak | -3.62% | -3.92% | +0.30% |
Average DrawdownAverage peak-to-trough decline | -7.54% | -10.67% | +3.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.66% | 2.19% | -0.53% |
Volatility
QLENX vs. QMNNX - Volatility Comparison
AQR Long-Short Equity N (QLENX) has a higher volatility of 1.93% compared to AQR Equity Market Neutral Fund N (QMNNX) at 1.36%. This indicates that QLENX'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
| QLENX | QMNNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.93% | 1.36% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 4.92% | 4.07% | +0.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.65% | 6.29% | +2.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.21% | 9.53% | +0.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.55% | 8.23% | +2.32% |