QMFIX vs. QLFRX

Last updated Jun 24, 2026

QMFIX (AQR MS Fusion Fund Class I) and QLFRX (AQR LSE Fusion Fund Class R6) are both mutual funds - QMFIX is a Multistrategy fund actively managed by AQR, while QLFRX is a Long-Short fund actively managed by AQR. Both are actively managed. Their correlation of 0.90 suggests significant overlap in exposure. QMFIX charges 3.55%/yr vs 6.20%/yr for QLFRX.

Performance

QMFIX vs. QLFRX - 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 R6 (QLFRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QMFIX achieves a 8.63% return, which is significantly higher than QLFRX's -1.25% return.

QMFIX

• 1D: 0.32%
• 1M: 0.89%
• YTD: 8.63%
• 6M: 7.97%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QLFRX

• 1D: 0.59%
• 1M: 1.80%
• YTD: -1.25%
• 6M: -2.46%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QMFIX vs. QLFRX - Yearly Performance Comparison

	2026 (YTD)	2025
QMFIX AQR MS Fusion Fund Class I	8.63%	3.63%
QLFRX AQR LSE Fusion Fund Class R6	-1.25%	6.80%

Correlation

The correlation between QMFIX and QLFRX 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

QMFIX vs. QLFRX - 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 R6 (QLFRX). 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. QLFRX - Drawdown Comparison

The maximum QMFIX drawdown since its inception was -10.27%, smaller than the maximum QLFRX drawdown of -14.53%. Use the drawdown chart below to compare losses from any high point for QMFIX and QLFRX.

Drawdown Indicators

	QMFIX	QLFRX	Difference
Max Drawdown Largest peak-to-trough decline	-10.27%	-14.53%	+4.26%
Current Drawdown Current decline from peak	-2.58%	-2.46%	-0.12%
Average Drawdown Average peak-to-trough decline	-2.28%	-5.45%	+3.17%

Volatility

Volatility by Period

	QMFIX	QLFRX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.90%	16.52%	-1.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.90%	16.52%	-1.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.90%	16.52%	-1.62%

QMFIX vs. QLFRX - Expense Ratio Comparison

QMFIX has a 3.55% expense ratio, which is lower than QLFRX's 6.20% expense ratio.

Dividends

QMFIX vs. QLFRX - Dividend Comparison

QMFIX's dividend yield for the trailing twelve months is around 0.42%, more than QLFRX's 0.23% yield.

Position	TTM	2025
QLFRX AQR LSE Fusion Fund Class R6	0.23%	0.22%
QMFIX AQR MS Fusion Fund Class I	0.42%	0.46%

Frequently Asked Questions

Can I hold both QMFIX and QLFRX in my portfolio?

With a correlation of 0.90, QMFIX and QLFRX 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.