QMFNX vs. QLFNX

Last updated Jun 23, 2026

QMFNX (AQR MS Fusion Fund Class N) and QLFNX (AQR LSE Fusion Fund Class N) are both mutual funds - QMFNX 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 0.90 suggests significant overlap in exposure. QMFNX charges 3.80%/yr vs 6.55%/yr for QLFNX.

Performance

QMFNX vs. QLFNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR MS Fusion Fund Class N (QMFNX) 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, QMFNX achieves a 8.20% return, which is significantly higher than QLFNX's -1.91% return.

QMFNX

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

QLFNX

• 1D: 0.60%
• 1M: 1.20%
• YTD: -1.91%
• 6M: -2.96%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QMFNX vs. QLFNX - Yearly Performance Comparison

	2026 (YTD)	2025
QMFNX AQR MS Fusion Fund Class N	8.20%	3.54%
QLFNX AQR LSE Fusion Fund Class N	-1.91%	6.71%

Correlation

The correlation between QMFNX and QLFNX 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

QMFNX vs. QLFNX - Risk-Adjusted Trends Comparison

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

QMFNX vs. QLFNX - Drawdown Comparison

The maximum QMFNX drawdown since its inception was -10.37%, smaller than the maximum QLFNX drawdown of -14.54%. Use the drawdown chart below to compare losses from any high point for QMFNX and QLFNX.

Drawdown Indicators

	QMFNX	QLFNX	Difference
Max Drawdown Largest peak-to-trough decline	-10.37%	-14.54%	+4.17%
Current Drawdown Current decline from peak	-2.90%	-3.12%	+0.22%
Average Drawdown Average peak-to-trough decline	-2.31%	-5.51%	+3.20%

Volatility

Volatility by Period

	QMFNX	QLFNX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.99%	16.62%	-1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.99%	16.62%	-1.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.99%	16.62%	-1.63%

QMFNX vs. QLFNX - Expense Ratio Comparison

QMFNX has a 3.80% expense ratio, which is lower than QLFNX's 6.55% expense ratio.

Dividends

QMFNX vs. QLFNX - Dividend Comparison

QMFNX's dividend yield for the trailing twelve months is around 0.35%, more than QLFNX's 0.14% yield.

Position	TTM	2025
QLFNX AQR LSE Fusion Fund Class N	0.14%	0.14%
QMFNX AQR MS Fusion Fund Class N	0.35%	0.37%

Frequently Asked Questions

Can I hold both QMFNX and QLFNX in my portfolio?

With a correlation of 0.90, QMFNX 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.