QMFRX vs. QLFNX

Last updated Jul 11, 2026

QMFRX (AQR MS Fusion Fund Class R6) and QLFNX (AQR LSE Fusion Fund Class N) are both mutual funds - QMFRX 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. QMFRX charges 3.45%/yr vs 6.55%/yr for QLFNX.

Performance

QMFRX vs. QLFNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR MS Fusion Fund Class R6 (QMFRX) 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, QMFRX achieves a 7.06% return, which is significantly higher than QLFNX's -3.00% return.

QMFRX

• 1D: 1.49%
• 1M: -0.89%
• 6M: 5.50%
• YTD: 7.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QLFNX

• 1D: 2.37%
• 1M: 0.26%
• 6M: -3.00%
• YTD: -3.00%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QMFRX vs. QLFNX - Yearly Performance Comparison

	2026 (YTD)	2025
QMFRX AQR MS Fusion Fund Class R6	7.06%	3.55%
QLFNX AQR LSE Fusion Fund Class N	-3.00%	6.71%

Correlation

The correlation between QMFRX 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

QMFRX vs. QLFNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR MS Fusion Fund Class R6 (QMFRX) 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

QMFRX vs. QLFNX - Drawdown Comparison

The maximum QMFRX 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 QMFRX and QLFNX.

Drawdown Indicators

	QMFRX	QLFNX	Difference
Max Drawdown Largest peak-to-trough decline	-10.27%	-14.54%	+4.27%
Current Drawdown Current decline from peak	-4.14%	-4.19%	+0.05%
Average Drawdown Average peak-to-trough decline	-2.54%	-5.55%	+3.01%

Volatility

Volatility by Period

	QMFRX	QLFNX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.97%	17.10%	-2.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.97%	17.10%	-2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.97%	17.10%	-2.13%

QMFRX vs. QLFNX - Expense Ratio Comparison

QMFRX has a 3.45% expense ratio, which is lower than QLFNX's 6.55% expense ratio.

Dividends

QMFRX vs. QLFNX - Dividend Comparison

QMFRX's dividend yield for the trailing twelve months is around 0.44%, more than QLFNX's 0.14% yield.

Position	TTM	2025
QLFNX AQR LSE Fusion Fund Class N	0.14%	0.14%
QMFRX AQR MS Fusion Fund Class R6	0.44%	0.47%

Frequently Asked Questions

Can I hold both QMFRX and QLFNX in my portfolio?

With a correlation of 0.91, QMFRX 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.