QMFRX vs. QMFNX

Last updated Jun 4, 2026

QMFRX (AQR MS Fusion Fund Class R6) and QMFNX (AQR MS Fusion Fund Class N) are both Multistrategy funds from AQR. Both are actively managed. With a 1.00 correlation, they move nearly in lockstep. QMFRX charges 3.45%/yr vs 3.80%/yr for QMFNX.

Performance

QMFRX vs. QMFNX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with QMFRX having a 11.68% return and QMFNX slightly lower at 11.43%.

QMFRX

• 1D: 0.23%
• 1M: 8.47%
• YTD: 11.68%
• 6M: 13.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QMFNX

• 1D: 0.16%
• 1M: 8.40%
• YTD: 11.43%
• 6M: 13.54%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QMFRX vs. QMFNX - Yearly Performance Comparison

	2026 (YTD)	2025
QMFRX AQR MS Fusion Fund Class R6	11.68%	3.55%
QMFNX AQR MS Fusion Fund Class N	11.43%	3.54%

Correlation

The correlation between QMFRX and QMFNX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 7, 2025	1.00

Return for Risk

QMFRX vs. QMFNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR MS Fusion Fund Class R6 (QMFRX) and AQR MS Fusion Fund Class N (QMFNX). 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	QMFNX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.19	2.14	+0.05

Drawdowns

QMFRX vs. QMFNX - Drawdown Comparison

The maximum QMFRX drawdown since its inception was -10.27%, roughly equal to the maximum QMFNX drawdown of -10.37%. Use the drawdown chart below to compare losses from any high point for QMFRX and QMFNX.

Drawdown Indicators

	QMFRX	QMFNX	Difference
Max Drawdown Largest peak-to-trough decline	-10.27%	-10.37%	+0.10%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.26%	-2.28%	+0.02%

Volatility

Volatility by Period

	QMFRX	QMFNX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.30%	14.36%	-0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.30%	14.36%	-0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.30%	14.36%	-0.06%

QMFRX vs. QMFNX - Expense Ratio Comparison

QMFRX has a 3.45% expense ratio, which is lower than QMFNX's 3.80% expense ratio.

Dividends

QMFRX vs. QMFNX - Dividend Comparison

QMFRX's dividend yield for the trailing twelve months is around 0.42%, more than QMFNX's 0.34% yield.

Position	TTM	2025
QMFNX AQR MS Fusion Fund Class N	0.34%	0.37%
QMFRX AQR MS Fusion Fund Class R6	0.42%	0.47%

Frequently Asked Questions

Can I hold both QMFRX and QMFNX in my portfolio?

With a correlation of 1.00, QMFRX and QMFNX 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.