QLFNX vs. QMFNX

Last updated Jun 4, 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 0.89 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 0.50% return, which is significantly lower than QMFNX's 11.43% return.

QLFNX

• 1D: -0.25%
• 1M: 6.62%
• YTD: 0.50%
• 6M: 4.01%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QMFNX

• 1D: 0.16%
• 1M: 8.40%
• YTD: 11.43%
• 6M: 13.54%
• 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	0.50%	6.71%
QMFNX AQR MS Fusion Fund Class N	11.43%	3.54%

Correlation

The correlation between QLFNX and QMFNX is 0.89, 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 7, 2025	0.89

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.

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

Sharpe Ratios by Period

	QLFNX	QMFNX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	2.14	-1.26

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	-0.74%	0.00%	-0.74%
Average Drawdown Average peak-to-trough decline	-5.70%	-2.28%	-3.42%

Volatility

Volatility by Period

	QLFNX	QMFNX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	15.93%	14.36%	+1.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.93%	14.36%	+1.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.93%	14.36%	+1.57%

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?

QLFNX and QMFNX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.