QLENX vs. VMNIX
Compare and contrast key facts about AQR Long-Short Equity N (QLENX) and Vanguard Market Neutral Fund Institutional Shares (VMNIX).
QLENX is an actively managed fund by AQR Funds. It was launched on Jul 16, 2013. VMNIX is managed by Vanguard. It was launched on Oct 19, 1998.
Performance
QLENX vs. VMNIX - Performance Comparison
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QLENX vs. VMNIX - 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% |
VMNIX Vanguard Market Neutral Fund Institutional Shares | 6.12% | 9.36% | 5.84% | 12.33% | 13.47% | 23.39% | -11.58% | -9.48% | 0.66% | -4.83% |
Returns By Period
In the year-to-date period, QLENX achieves a -3.31% return, which is significantly lower than VMNIX's 6.12% return. Over the past 10 years, QLENX has outperformed VMNIX with an annualized return of 11.26%, while VMNIX has yielded a comparatively lower 4.06% 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%
VMNIX
- 1D
- 0.09%
- 1M
- 3.02%
- YTD
- 6.12%
- 6M
- 8.21%
- 1Y
- 16.09%
- 3Y*
- 11.80%
- 5Y*
- 12.53%
- 10Y*
- 4.06%
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QLENX vs. VMNIX - Expense Ratio Comparison
QLENX has a 5.18% expense ratio, which is higher than VMNIX's 1.25% expense ratio.
Return for Risk
QLENX vs. VMNIX — Risk / Return Rank
QLENX
VMNIX
QLENX vs. VMNIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Long-Short Equity N (QLENX) and Vanguard Market Neutral Fund Institutional Shares (VMNIX). 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 | VMNIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.26 | 2.20 | +0.06 |
Sortino ratioReturn per unit of downside risk | 2.93 | 3.25 | -0.32 |
Omega ratioGain probability vs. loss probability | 1.46 | 1.40 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 2.83 | 3.37 | -0.54 |
Martin ratioReturn relative to average drawdown | 11.16 | 9.61 | +1.55 |
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 | VMNIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.26 | 2.20 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.19 | 1.75 | +0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.07 | 0.64 | +0.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.21 | 0.31 | +0.89 |
Correlation
The correlation between QLENX and VMNIX is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
QLENX vs. VMNIX - Dividend Comparison
QLENX's dividend yield for the trailing twelve months is around 1.69%, less than VMNIX's 3.37% 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% |
VMNIX Vanguard Market Neutral Fund Institutional Shares | 3.37% | 3.59% | 5.67% | 5.15% | 0.78% | 0.20% | 0.86% | 3.23% | 1.00% | 1.16% | 0.45% | 0.10% |
Drawdowns
QLENX vs. VMNIX - Drawdown Comparison
The maximum QLENX drawdown since its inception was -38.50%, which is greater than VMNIX's maximum drawdown of -27.90%. Use the drawdown chart below to compare losses from any high point for QLENX and VMNIX.
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Drawdown Indicators
| QLENX | VMNIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.50% | -27.90% | -10.60% |
Max Drawdown (1Y)Largest decline over 1 year | -6.50% | -4.95% | -1.55% |
Max Drawdown (5Y)Largest decline over 5 years | -17.19% | -6.69% | -10.50% |
Max Drawdown (10Y)Largest decline over 10 years | -38.50% | -24.95% | -13.55% |
Current DrawdownCurrent decline from peak | -3.91% | 0.00% | -3.91% |
Average DrawdownAverage peak-to-trough decline | -7.55% | -8.82% | +1.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.65% | 1.73% | -0.08% |
Volatility
QLENX vs. VMNIX - Volatility Comparison
AQR Long-Short Equity N (QLENX) has a higher volatility of 1.92% compared to Vanguard Market Neutral Fund Institutional Shares (VMNIX) at 1.54%. This indicates that QLENX's price experiences larger fluctuations and is considered to be riskier than VMNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QLENX | VMNIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.92% | 1.54% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 4.92% | 5.73% | -0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.66% | 7.59% | +1.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.22% | 7.19% | +3.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.55% | 6.35% | +4.20% |