QMFRX vs. AQMIX

Last updated Aug 1, 2026

QMFRX (AQR MS Fusion Fund Class R6) and AQMIX (AQR Managed Futures Strategy Fund - Class I) are both mutual funds - QMFRX is a Multistrategy fund actively managed by AQR, while AQMIX is a Systematic Trend fund managed by AQR. Their 0.25 correlation means their historical movements had little consistent relationship. QMFRX charges 3.45%/yr vs 1.25%/yr for AQMIX.

Performance

QMFRX vs. AQMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR MS Fusion Fund Class R6 (QMFRX) and AQR Managed Futures Strategy Fund - Class I (AQMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QMFRX achieves a 6.63% return, which is significantly lower than AQMIX's 10.24% return.

QMFRX

• 1D: 2.43%
• 1M: 2.26%
• 6M: 5.98%
• YTD: 6.63%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

AQMIX

• 1D: -0.09%
• 1M: 2.13%
• 6M: 5.39%
• YTD: 10.24%
• 1Y: 23.61%
• 3Y*: 11.95%
• 5Y*: 13.71%
• 10Y*: 4.33%
• ALL TIME*: 3.97%

*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)
AQMIX AQR Managed Futures Strategy Fund - Class I	$0.00	$0.00	$0.00
QMFRX AQR MS Fusion Fund Class R6	$0.00	$0.00	$0.00

QMFRX vs. AQMIX - Yearly Performance Comparison

	2026 (YTD)	2025
QMFRX AQR MS Fusion Fund Class R6	6.63%	3.55%
AQMIX AQR Managed Futures Strategy Fund - Class I	10.24%	1.44%

Correlation

The correlation between QMFRX and AQMIX is 0.25, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 6, 2025	0.25

Return for Risk

QMFRX vs. AQMIX — Risk / Return Rank

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

QMFRX

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

AQMIX

AQMIX Risk / Return Rank: 90
AQMIX Sharpe Ratio Rank: 90
AQMIX Sortino Ratio Rank: 86
AQMIX Omega Ratio Rank: 83
AQMIX Calmar Ratio Rank: 95
AQMIX Martin Ratio Rank: 94

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.

QMFRX vs. AQMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR MS Fusion Fund Class R6 (QMFRX) and AQR Managed Futures Strategy Fund - Class I (AQMIX). 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.

	QMFRX	AQMIX	Difference
Sharpe ratio: Return per unit of total volatility	—	2.26	—
Sortino ratio: Return per unit of downside risk	—	3.08	—
Omega ratio: Gain probability vs. loss probability	—	1.39	—
Calmar ratio: Return relative to maximum drawdown	—	4.20	—
Martin ratio: Return relative to average drawdown	—	14.43	—

Drawdowns

QMFRX vs. AQMIX - Drawdown Comparison

The maximum QMFRX drawdown since its inception was -10.27%, smaller than the maximum AQMIX drawdown of -26.52%. Use the drawdown chart below to compare losses from any high point for QMFRX and AQMIX.

Drawdown Indicators

	QMFRX	AQMIX	Difference
Max Drawdown Largest peak-to-trough decline	-10.27%	-26.52%	+16.25%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.14%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.57%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.57%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-22.17%	—
Current Drawdown Current decline from peak	-4.53%	-3.12%	-1.41%
Average Drawdown Average peak-to-trough decline	-2.72%	-9.93%	+7.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.49%	—

Volatility

Volatility by Period

	QMFRX	AQMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.39%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.39%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.06%	9.57%	+5.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.06%	11.60%	+3.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.06%	10.26%	+4.80%

QMFRX vs. AQMIX - Expense Ratio Comparison

QMFRX has a 3.45% expense ratio, which is higher than AQMIX's 1.25% expense ratio.

Dividends

QMFRX vs. AQMIX - Dividend Comparison

QMFRX's dividend yield for the trailing twelve months is around 0.44%, less than AQMIX's 2.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AQMIX AQR Managed Futures Strategy Fund - Class I	2.05%	2.26%	3.83%	8.39%	12.76%	6.94%	5.31%	3.13%	0.00%	0.00%	0.02%	6.51%
QMFRX AQR MS Fusion Fund Class R6	0.44%	0.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QMFRX and AQMIX in my portfolio?

QMFRX and AQMIX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.