QMFRX vs. QLFNX

Last updated Jun 5, 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 0.89 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 11.42% return, which is significantly higher than QLFNX's 0.17% return.

QMFRX

• 1D: -0.23%
• 1M: 7.39%
• YTD: 11.42%
• 6M: 13.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QLFNX

• 1D: -0.33%
• 1M: 5.52%
• YTD: 0.17%
• 6M: 3.31%
• 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	11.42%	3.55%
QLFNX AQR LSE Fusion Fund Class N	0.17%	6.71%

Correlation

The correlation between QMFRX and QLFNX is 0.89, 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 7, 2025	0.89

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.

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

Sharpe Ratios by Period

	QMFRX	QLFNX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.14	0.83	+1.31

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	-0.23%	-1.07%	+0.84%
Average Drawdown Average peak-to-trough decline	-2.25%	-5.67%	+3.42%

Volatility

Volatility by Period

	QMFRX	QLFNX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.26%	15.88%	-1.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.26%	15.88%	-1.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.26%	15.88%	-1.62%

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 0.43%, 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	0.43%	0.47%

Frequently Asked Questions

Can I hold both QMFRX and QLFNX in my portfolio?

QMFRX and QLFNX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.