QLFNX vs. QLENX

Last updated Jun 24, 2026

QLFNX (AQR LSE Fusion Fund Class N) and QLENX (AQR Long-Short Equity Fund Class N) are both Long-Short funds. Both are actively managed. Their correlation of 0.83 suggests significant overlap in exposure. QLFNX charges 6.55%/yr vs 1.57%/yr for QLENX.

Performance

QLFNX vs. QLENX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR LSE Fusion Fund Class N (QLFNX) and AQR Long-Short Equity Fund Class N (QLENX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QLFNX achieves a -1.33% return, which is significantly lower than QLENX's -0.63% return.

QLFNX

• 1D: 0.59%
• 1M: 1.80%
• YTD: -1.33%
• 6M: -2.55%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QLENX

• 1D: 0.20%
• 1M: 1.14%
• YTD: -0.63%
• 6M: -1.26%
• 1Y: 15.19%
• 3Y*: 25.46%
• 5Y*: 23.16%
• 10Y*: 11.97%

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

QLFNX vs. QLENX - Yearly Performance Comparison

	2026 (YTD)	2025
QLFNX AQR LSE Fusion Fund Class N	-1.33%	6.71%
QLENX AQR Long-Short Equity Fund Class N	-0.63%	6.15%

Correlation

The correlation between QLFNX and QLENX is 0.83, 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	0.83

Return for Risk

QLFNX vs. QLENX — 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.

QLENX

QLENX Risk / Return Rank: 54
QLENX Sharpe Ratio Rank: 61
QLENX Sortino Ratio Rank: 66
QLENX Omega Ratio Rank: 58
QLENX Calmar Ratio Rank: 49
QLENX Martin Ratio Rank: 38

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. QLENX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR LSE Fusion Fund Class N (QLFNX) and AQR Long-Short Equity Fund Class N (QLENX). 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	QLENX	Difference
Sharpe ratio: Return per unit of total volatility	—	2.11	—
Sortino ratio: Return per unit of downside risk	—	3.08	—
Omega ratio: Gain probability vs. loss probability	—	1.39	—
Calmar ratio: Return relative to maximum drawdown	—	2.56	—
Martin ratio: Return relative to average drawdown	—	7.88	—

Drawdowns

QLFNX vs. QLENX - Drawdown Comparison

The maximum QLFNX drawdown since its inception was -14.54%, smaller than the maximum QLENX drawdown of -38.50%. Use the drawdown chart below to compare losses from any high point for QLFNX and QLENX.

Drawdown Indicators

	QLFNX	QLENX	Difference
Max Drawdown Largest peak-to-trough decline	-14.54%	-38.50%	+23.96%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.09%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-7.09%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.19%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.50%	—
Current Drawdown Current decline from peak	-2.55%	-1.26%	-1.29%
Average Drawdown Average peak-to-trough decline	-5.49%	-7.46%	+1.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.97%	—

Volatility

Volatility by Period

	QLFNX	QLENX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.86%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.78%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.57%	7.40%	+9.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.57%	10.01%	+6.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.57%	10.60%	+5.97%

QLFNX vs. QLENX - Expense Ratio Comparison

QLFNX has a 6.55% expense ratio, which is higher than QLENX's 1.57% expense ratio.

Dividends

QLFNX vs. QLENX - Dividend Comparison

QLFNX's dividend yield for the trailing twelve months is around 0.14%, less than QLENX's 1.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QLENX AQR Long-Short Equity Fund Class N	1.65%	1.64%	7.13%	21.21%	14.09%	0.00%	1.59%	0.00%	6.09%	8.91%	2.87%	4.91%
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%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QLFNX and QLENX in my portfolio?

QLFNX and QLENX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.