QLFNX vs. QHFRX

Last updated Jun 25, 2026

QLFNX (AQR LSE Fusion Fund Class N) and QHFRX (AQR MS Fusion HV Fund Class R6) are both mutual funds - QLFNX is a Long-Short fund actively managed by AQR, while QHFRX is a Multistrategy fund actively managed by AQR. Both are actively managed. Their correlation of 0.90 suggests significant overlap in exposure. QLFNX charges 6.55%/yr vs 6.59%/yr for QHFRX.

Performance

QLFNX vs. QHFRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR LSE Fusion Fund Class N (QLFNX) and AQR MS Fusion HV Fund Class R6 (QHFRX). 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 QHFRX's -0.76% return.

QLFNX

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

QHFRX

• 1D: -2.57%
• 1M: 0.17%
• YTD: -0.76%
• 6M: -1.51%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QLFNX vs. QHFRX - Yearly Performance Comparison

	2026 (YTD)	2025
QLFNX AQR LSE Fusion Fund Class N	-4.08%	6.71%
QHFRX AQR MS Fusion HV Fund Class R6	-0.76%	5.06%

Correlation

The correlation between QLFNX and QHFRX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 6, 2025	0.90

Return for Risk

QLFNX vs. QHFRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR LSE Fusion Fund Class N (QLFNX) and AQR MS Fusion HV Fund Class R6 (QHFRX). 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.

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

Drawdowns

QLFNX vs. QHFRX - Drawdown Comparison

The maximum QLFNX drawdown since its inception was -14.54%, which is greater than QHFRX's maximum drawdown of -13.76%. Use the drawdown chart below to compare losses from any high point for QLFNX and QHFRX.

Drawdown Indicators

	QLFNX	QHFRX	Difference
Max Drawdown Largest peak-to-trough decline	-14.54%	-13.76%	-0.78%
Current Drawdown Current decline from peak	-5.26%	-4.55%	-0.71%
Average Drawdown Average peak-to-trough decline	-5.49%	-4.80%	-0.69%

Volatility

Volatility by Period

	QLFNX	QHFRX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	16.92%	17.27%	-0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.92%	17.27%	-0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.92%	17.27%	-0.35%

QLFNX vs. QHFRX - Expense Ratio Comparison

QLFNX has a 6.55% expense ratio, which is lower than QHFRX's 6.59% expense ratio.

Dividends

QLFNX vs. QHFRX - Dividend Comparison

QLFNX's dividend yield for the trailing twelve months is around 0.14%, while QHFRX has not paid dividends to shareholders.

Position	TTM	2025
QHFRX AQR MS Fusion HV Fund Class R6	0.00%	0.00%
QLFNX AQR LSE Fusion Fund Class N	0.14%	0.14%

Frequently Asked Questions

Can I hold both QLFNX and QHFRX in my portfolio?

With a correlation of 0.90, QLFNX and QHFRX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.