QLFNX vs. QMFNX

Last updated Jun 24, 2026

QLFNX (AQR LSE Fusion Fund Class N) and QMFNX (AQR MS Fusion Fund Class N) are both mutual funds - QLFNX is a Long-Short fund actively managed by AQR, while QMFNX 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 3.80%/yr for QMFNX.

Performance

QLFNX vs. QMFNX - 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 Fund Class N (QMFNX). 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 QMFNX's 8.46% return.

QLFNX

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

QMFNX

• 1D: 0.24%
• 1M: 0.81%
• YTD: 8.46%
• 6M: 7.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QLFNX vs. QMFNX - Yearly Performance Comparison

	2026 (YTD)	2025
QLFNX AQR LSE Fusion Fund Class N	-1.33%	6.71%
QMFNX AQR MS Fusion Fund Class N	8.46%	3.54%

Correlation

The correlation between QLFNX and QMFNX 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. QMFNX - 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 Fund Class N (QMFNX). 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. QMFNX - Drawdown Comparison

The maximum QLFNX drawdown since its inception was -14.54%, which is greater than QMFNX's maximum drawdown of -10.37%. Use the drawdown chart below to compare losses from any high point for QLFNX and QMFNX.

Drawdown Indicators

	QLFNX	QMFNX	Difference
Max Drawdown Largest peak-to-trough decline	-14.54%	-10.37%	-4.17%
Current Drawdown Current decline from peak	-2.55%	-2.66%	+0.11%
Average Drawdown Average peak-to-trough decline	-5.49%	-2.31%	-3.18%

Volatility

Volatility by Period

	QLFNX	QMFNX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	16.57%	14.94%	+1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.57%	14.94%	+1.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.57%	14.94%	+1.63%

QLFNX vs. QMFNX - Expense Ratio Comparison

QLFNX has a 6.55% expense ratio, which is higher than QMFNX's 3.80% expense ratio.

Dividends

QLFNX vs. QMFNX - Dividend Comparison

QLFNX's dividend yield for the trailing twelve months is around 0.14%, less than QMFNX's 0.34% yield.

Position	TTM	2025
QLFNX AQR LSE Fusion Fund Class N	0.14%	0.14%
QMFNX AQR MS Fusion Fund Class N	0.34%	0.37%

Frequently Asked Questions

Can I hold both QLFNX and QMFNX in my portfolio?

With a correlation of 0.90, QLFNX and QMFNX 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.