QMFNX vs. QCFIX

Last updated Jun 23, 2026

QMFNX (AQR MS Fusion Fund Class N) and QCFIX (AQR CVX Fusion Fund Class I) are both mutual funds - QMFNX is a Multistrategy fund actively managed by AQR, while QCFIX is a Systematic Trend fund actively managed by AQR. Both are actively managed. Their correlation of 0.87 suggests significant overlap in exposure. QMFNX charges 3.80%/yr vs 2.17%/yr for QCFIX.

Performance

QMFNX vs. QCFIX - Performance Comparison

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

Returns By Period

In the year-to-date period, QMFNX achieves a 8.20% return, which is significantly lower than QCFIX's 15.05% return.

QMFNX

• 1D: 0.73%
• 1M: 0.57%
• YTD: 8.20%
• 6M: 7.73%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QCFIX

• 1D: 0.63%
• 1M: -0.78%
• YTD: 15.05%
• 6M: 14.63%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QMFNX vs. QCFIX - Yearly Performance Comparison

	2026 (YTD)	2025
QMFNX AQR MS Fusion Fund Class N	8.20%	3.54%
QCFIX AQR CVX Fusion Fund Class I	15.05%	2.00%

Correlation

The correlation between QMFNX and QCFIX is 0.87, 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	0.87

Return for Risk

QMFNX vs. QCFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR MS Fusion Fund Class N (QMFNX) and AQR CVX Fusion Fund Class I (QCFIX). 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

QMFNX vs. QCFIX - Drawdown Comparison

The maximum QMFNX drawdown since its inception was -10.37%, which is greater than QCFIX's maximum drawdown of -7.93%. Use the drawdown chart below to compare losses from any high point for QMFNX and QCFIX.

Drawdown Indicators

	QMFNX	QCFIX	Difference
Max Drawdown Largest peak-to-trough decline	-10.37%	-7.93%	-2.44%
Current Drawdown Current decline from peak	-2.90%	-3.04%	+0.14%
Average Drawdown Average peak-to-trough decline	-2.31%	-1.69%	-0.62%

Volatility

Volatility by Period

	QMFNX	QCFIX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.99%	15.13%	-0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.99%	15.13%	-0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.99%	15.13%	-0.14%

QMFNX vs. QCFIX - Expense Ratio Comparison

QMFNX has a 3.80% expense ratio, which is higher than QCFIX's 2.17% expense ratio.

Dividends

QMFNX vs. QCFIX - Dividend Comparison

QMFNX's dividend yield for the trailing twelve months is around 0.35%, less than QCFIX's 6.80% yield.

Position	TTM	2025
QCFIX AQR CVX Fusion Fund Class I	6.80%	7.82%
QMFNX AQR MS Fusion Fund Class N	0.35%	0.37%

Frequently Asked Questions

Can I hold both QMFNX and QCFIX in my portfolio?

QMFNX and QCFIX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.