QLFNX vs. CDAZX

Last updated Jun 25, 2026

QLFNX (AQR LSE Fusion Fund Class N) and CDAZX (Multi-Manager Directional Alternative Strategies Fund) are both Long-Short funds. A 0.57 correlation means they provide meaningful diversification when combined. QLFNX charges 6.55%/yr vs 1.84%/yr for CDAZX.

Performance

QLFNX vs. CDAZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR LSE Fusion Fund Class N (QLFNX) and Multi-Manager Directional Alternative Strategies Fund (CDAZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QLFNX achieves a -4.08% return, which is significantly lower than CDAZX's 9.26% return.

QLFNX

• 1D: -2.78%
• 1M: -1.03%
• YTD: -4.08%
• 6M: -5.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CDAZX

• 1D: -0.13%
• 1M: 4.28%
• YTD: 9.26%
• 6M: 8.04%
• 1Y: 24.97%
• 3Y*: 18.23%
• 5Y*: 11.96%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

QLFNX vs. CDAZX - Yearly Performance Comparison

	2026 (YTD)	2025
QLFNX AQR LSE Fusion Fund Class N	-4.08%	6.71%
CDAZX Multi-Manager Directional Alternative Strategies Fund	9.26%	4.09%

Correlation

The correlation between QLFNX and CDAZX is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 6, 2025	0.57

Return for Risk

QLFNX vs. CDAZX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QLFNX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

CDAZX

CDAZX Risk / Return Rank: 85
CDAZX Sharpe Ratio Rank: 90
CDAZX Sortino Ratio Rank: 88
CDAZX Omega Ratio Rank: 84
CDAZX Calmar Ratio Rank: 84
CDAZX Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QLFNX vs. CDAZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR LSE Fusion Fund Class N (QLFNX) and Multi-Manager Directional Alternative Strategies Fund (CDAZX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	QLFNX	CDAZX	Difference
Sharpe ratio: Return per unit of total volatility	—	2.69	—
Sortino ratio: Return per unit of downside risk	—	3.80	—
Omega ratio: Gain probability vs. loss probability	—	1.50	—
Calmar ratio: Return relative to maximum drawdown	—	3.60	—
Martin ratio: Return relative to average drawdown	—	13.31	—

Drawdowns

QLFNX vs. CDAZX - Drawdown Comparison

The maximum QLFNX drawdown since its inception was -14.54%, smaller than the maximum CDAZX drawdown of -30.94%. Use the drawdown chart below to compare losses from any high point for QLFNX and CDAZX.

Drawdown Indicators

	QLFNX	CDAZX	Difference
Max Drawdown Largest peak-to-trough decline	-14.54%	-30.94%	+16.40%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.32%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-8.54%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-10.91%	—
Current Drawdown Current decline from peak	-5.26%	-0.13%	-5.13%
Average Drawdown Average peak-to-trough decline	-5.49%	-6.11%	+0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.97%	—

Volatility

Volatility by Period

	QLFNX	CDAZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.48%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.65%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.92%	9.80%	+7.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.92%	9.21%	+7.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.92%	10.06%	+6.86%

QLFNX vs. CDAZX - Expense Ratio Comparison

QLFNX has a 6.55% expense ratio, which is higher than CDAZX's 1.84% expense ratio.

Dividends

QLFNX vs. CDAZX - Dividend Comparison

QLFNX's dividend yield for the trailing twelve months is around 0.14%, less than CDAZX's 21.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CDAZX Multi-Manager Directional Alternative Strategies Fund	21.30%	23.28%	10.21%	1.58%	11.48%	6.28%	0.00%	0.79%	50.33%	3.97%
QLFNX AQR LSE Fusion Fund Class N	0.14%	0.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QLFNX and CDAZX in my portfolio?

QLFNX and CDAZX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.