QMHIX vs. ASMOX

Last updated Jun 24, 2026

QMHIX (AQR Managed Futures Strategy HV Fund) and ASMOX (AQR Small Cap Momentum Style Fund) are both mutual funds - QMHIX is a Systematic Trend fund managed by AQR Funds, while ASMOX is a Small Cap Growth Equities fund managed by AQR Funds. At a 0.03 correlation, their price movements are largely independent. QMHIX charges 1.65%/yr vs 0.61%/yr for ASMOX.

Performance

QMHIX vs. ASMOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Managed Futures Strategy HV Fund (QMHIX) and AQR Small Cap Momentum Style Fund (ASMOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QMHIX

• 1D: 1.16%
• 1M: -0.96%
• YTD: 15.33%
• 6M: 16.25%
• 1Y: 34.04%
• 3Y*: 15.28%
• 5Y*: 17.07%
• 10Y*: 4.99%

ASMOX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QMHIX vs. ASMOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QMHIX AQR Managed Futures Strategy HV Fund	15.33%	19.97%	10.78%	-0.17%	50.14%	-2.08%	-0.73%	1.82%	-14.44%	-1.72%
ASMOX AQR Small Cap Momentum Style Fund	17.33%	16.87%	16.54%	18.37%	-19.56%	15.37%	25.76%	26.47%	-12.14%	17.43%

Correlation

The correlation between QMHIX and ASMOX is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	-0.06
Correlation (10Y) Calculated over the trailing 10-year period	0.03
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.03

The correlation between QMHIX and ASMOX shifts across timeframes, from -0.06 (5 years) to 0.10 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

QMHIX vs. ASMOX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QMHIX

QMHIX Risk / Return Rank: 87
QMHIX Sharpe Ratio Rank: 88
QMHIX Sortino Ratio Rank: 79
QMHIX Omega Ratio Rank: 76
QMHIX Calmar Ratio Rank: 98
QMHIX Martin Ratio Rank: 95

ASMOX

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

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QMHIX vs. ASMOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Managed Futures Strategy HV Fund (QMHIX) and AQR Small Cap Momentum Style Fund (ASMOX). 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.

	QMHIX	ASMOX	Difference
Sharpe ratio: Return per unit of total volatility	2.67	—	—
Sortino ratio: Return per unit of downside risk	3.44	—	—
Omega ratio: Gain probability vs. loss probability	1.45	—	—
Calmar ratio: Return relative to maximum drawdown	7.18	—	—
Martin ratio: Return relative to average drawdown	20.80	—	—

Drawdowns

Drawdown Indicators

	QMHIX	ASMOX	Difference
Max Drawdown Largest peak-to-trough decline	-39.37%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-4.83%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.06%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.06%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.54%	—	—
Current Drawdown Current decline from peak	-3.15%	—	—
Average Drawdown Average peak-to-trough decline	-17.75%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.66%	—	—

Volatility

Volatility by Period

	QMHIX	ASMOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.97%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.92%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.02%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.31%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.49%	—	—

QMHIX vs. ASMOX - Expense Ratio Comparison

QMHIX has a 1.65% expense ratio, which is higher than ASMOX's 0.61% expense ratio.

Dividends

QMHIX vs. ASMOX - Dividend Comparison

QMHIX's dividend yield for the trailing twelve months is around 1.77%, less than ASMOX's 7.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASMOX AQR Small Cap Momentum Style Fund	7.88%	8.12%	18.80%	3.92%	0.57%	24.81%	5.46%	4.38%	29.63%	9.90%	0.79%	1.23%
QMHIX AQR Managed Futures Strategy HV Fund	1.77%	2.05%	2.31%	7.66%	9.34%	10.96%	9.52%	4.18%	0.00%	0.00%	0.01%	7.57%

Frequently Asked Questions

Can I hold both QMHIX and ASMOX in my portfolio?

QMHIX and ASMOX have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.