QLFRX vs. QNZNX

Last updated Aug 1, 2026

QLFRX (AQR LSE Fusion Fund Class R6) and QNZNX (AQR Trend Total Return Fund) are both mutual funds - QLFRX is a Long-Short fund actively managed by AQR, while QNZNX is a Systematic Trend fund actively managed by AQR. Both are actively managed. Their 0.58 correlation means they have sometimes moved together and sometimes differently. QLFRX charges 6.20%/yr vs 1.52%/yr for QNZNX.

Performance

QLFRX vs. QNZNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR LSE Fusion Fund Class R6 (QLFRX) and AQR Trend Total Return Fund (QNZNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QLFRX achieves a -3.82% return, which is significantly lower than QNZNX's 13.04% return.

QLFRX

• 1D: 3.21%
• 1M: 2.75%
• 6M: 0.43%
• YTD: -3.82%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

QNZNX

• 1D: 1.06%
• 1M: 1.85%
• 6M: 6.46%
• YTD: 13.04%
• 1Y: 31.98%
• 3Y*: 27.20%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.39%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QLFRX AQR LSE Fusion Fund Class R6	$0.00	$0.00	$0.00
QNZNX AQR Trend Total Return Fund	$0.00	$0.00	$0.00

QLFRX vs. QNZNX - Yearly Performance Comparison

	2026 (YTD)	2025
QLFRX AQR LSE Fusion Fund Class R6	-3.82%	6.80%
QNZNX AQR Trend Total Return Fund	13.04%	2.48%

Correlation

The correlation between QLFRX and QNZNX is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 6, 2025	0.58

Return for Risk

QLFRX vs. QNZNX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QLFRX

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

QNZNX

QNZNX Risk / Return Rank: 91
QNZNX Sharpe Ratio Rank: 93
QNZNX Sortino Ratio Rank: 87
QNZNX Omega Ratio Rank: 85
QNZNX Calmar Ratio Rank: 95
QNZNX Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QLFRX vs. QNZNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR LSE Fusion Fund Class R6 (QLFRX) and AQR Trend Total Return Fund (QNZNX). 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.

	QLFRX	QNZNX	Difference
Sharpe ratio: Return per unit of total volatility	—	2.41	—
Sortino ratio: Return per unit of downside risk	—	3.16	—
Omega ratio: Gain probability vs. loss probability	—	1.42	—
Calmar ratio: Return relative to maximum drawdown	—	4.35	—
Martin ratio: Return relative to average drawdown	—	13.97	—

Drawdowns

QLFRX vs. QNZNX - Drawdown Comparison

The maximum QLFRX drawdown since its inception was -14.53%, smaller than the maximum QNZNX drawdown of -18.38%. Use the drawdown chart below to compare losses from any high point for QLFRX and QNZNX.

Drawdown Indicators

	QLFRX	QNZNX	Difference
Max Drawdown Largest peak-to-trough decline	-14.53%	-18.38%	+3.85%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.58%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.48%	—
Current Drawdown Current decline from peak	-5.01%	-4.68%	-0.33%
Average Drawdown Average peak-to-trough decline	-5.52%	-2.82%	-2.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.05%	—

Volatility

Volatility by Period

	QLFRX	QNZNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.06%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.23%	—
Volatility (1Y) Calculated over the trailing 1-year period	17.25%	11.87%	+5.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.25%	12.15%	+5.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.25%	12.15%	+5.10%

QLFRX vs. QNZNX - Expense Ratio Comparison

QLFRX has a 6.20% expense ratio, which is higher than QNZNX's 1.52% expense ratio.

Dividends

QLFRX vs. QNZNX - Dividend Comparison

QLFRX's dividend yield for the trailing twelve months is around 0.23%, less than QNZNX's 0.76% yield.

Position	TTM	2025	2024	2023	2022
QLFRX AQR LSE Fusion Fund Class R6	0.23%	0.22%	0.00%	0.00%	0.00%
QNZNX AQR Trend Total Return Fund	0.76%	0.86%	16.46%	23.14%	2.04%

Frequently Asked Questions

Can I hold both QLFRX and QNZNX in my portfolio?

QLFRX and QNZNX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.