QMFIX vs. QLFNX

Last updated Jul 14, 2026

QMFIX (AQR MS Fusion Fund Class I) and QLFNX (AQR LSE Fusion Fund Class N) are both mutual funds - QMFIX is a Multistrategy fund actively managed by AQR, while QLFNX is a Long-Short fund actively managed by AQR. Both are actively managed. Their correlation of 0.91 suggests significant overlap in exposure. QMFIX charges 3.55%/yr vs 6.55%/yr for QLFNX.

Performance

QMFIX vs. QLFNX - Performance Comparison

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

Returns By Period

In the year-to-date period, QMFIX achieves a 7.41% return, which is significantly higher than QLFNX's -2.91% return.

QMFIX

• 1D: 0.49%
• 1M: -0.48%
• 6M: 6.02%
• YTD: 7.41%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QLFNX

• 1D: 0.09%
• 1M: 0.34%
• 6M: -2.34%
• YTD: -2.91%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QMFIX vs. QLFNX - Yearly Performance Comparison

	2026 (YTD)	2025
QMFIX AQR MS Fusion Fund Class I	7.41%	3.63%
QLFNX AQR LSE Fusion Fund Class N	-2.91%	6.71%

Correlation

The correlation between QMFIX and QLFNX is 0.91, 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	0.91

Return for Risk

QMFIX vs. QLFNX - Risk-Adjusted Trends Comparison

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

QMFIX vs. QLFNX - Drawdown Comparison

The maximum QMFIX drawdown since its inception was -10.27%, smaller than the maximum QLFNX drawdown of -14.54%. Use the drawdown chart below to compare losses from any high point for QMFIX and QLFNX.

Drawdown Indicators

	QMFIX	QLFNX	Difference
Max Drawdown Largest peak-to-trough decline	-10.27%	-14.54%	+4.27%
Current Drawdown Current decline from peak	-3.67%	-4.11%	+0.44%
Average Drawdown Average peak-to-trough decline	-2.53%	-5.55%	+3.02%

Volatility

Volatility by Period

	QMFIX	QLFNX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.93%	17.05%	-2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.93%	17.05%	-2.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.93%	17.05%	-2.12%

QMFIX vs. QLFNX - Expense Ratio Comparison

QMFIX has a 3.55% expense ratio, which is lower than QLFNX's 6.55% expense ratio.

Dividends

QMFIX vs. QLFNX - Dividend Comparison

QMFIX's dividend yield for the trailing twelve months is around 0.43%, more than QLFNX's 0.14% yield.

Position	TTM	2025
QLFNX AQR LSE Fusion Fund Class N	0.14%	0.14%
QMFIX AQR MS Fusion Fund Class I	0.43%	0.46%

Frequently Asked Questions

Can I hold both QMFIX and QLFNX in my portfolio?

With a correlation of 0.91, QMFIX and QLFNX 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.