QMNIX vs. QLENX
Compare and contrast key facts about AQR Equity Market Neutral Fund Class I (QMNIX) and AQR Long-Short Equity N (QLENX).
QMNIX is an actively managed fund by AQR Funds. It was launched on Oct 7, 2014. QLENX is an actively managed fund by AQR Funds. It was launched on Jul 16, 2013.
Performance
QMNIX vs. QLENX - Performance Comparison
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QMNIX vs. QLENX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QMNIX AQR Equity Market Neutral Fund Class I | -3.36% | 26.54% | 25.85% | 16.61% | 27.26% | 17.64% | -19.62% | -11.30% | -11.73% | 5.85% |
QLENX AQR Long-Short Equity N | -3.31% | 34.07% | 30.18% | 23.67% | 18.92% | 30.70% | -14.18% | 1.01% | -16.64% | 15.48% |
Returns By Period
The year-to-date returns for both investments are quite close, with QMNIX having a -3.36% return and QLENX slightly higher at -3.31%. Over the past 10 years, QMNIX has underperformed QLENX with an annualized return of 6.35%, while QLENX has yielded a comparatively higher 11.26% annualized return.
QMNIX
- 1D
- 0.50%
- 1M
- 0.25%
- YTD
- -3.36%
- 6M
- 2.43%
- 1Y
- 11.48%
- 3Y*
- 21.07%
- 5Y*
- 18.62%
- 10Y*
- 6.35%
QLENX
- 1D
- 0.56%
- 1M
- -2.74%
- YTD
- -3.31%
- 6M
- 4.39%
- 1Y
- 19.30%
- 3Y*
- 26.24%
- 5Y*
- 22.20%
- 10Y*
- 11.26%
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QMNIX vs. QLENX - Expense Ratio Comparison
QMNIX has a 5.48% expense ratio, which is higher than QLENX's 5.18% expense ratio.
Return for Risk
QMNIX vs. QLENX — Risk / Return Rank
QMNIX
QLENX
QMNIX vs. QLENX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Equity Market Neutral Fund Class I (QMNIX) and AQR Long-Short Equity N (QLENX). 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.
| QMNIX | QLENX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.86 | 2.26 | -0.40 |
Sortino ratioReturn per unit of downside risk | 2.52 | 2.93 | -0.41 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.46 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 2.13 | 2.83 | -0.70 |
Martin ratioReturn relative to average drawdown | 5.42 | 11.16 | -5.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QMNIX | QLENX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.86 | 2.26 | -0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.97 | 2.19 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | 1.07 | -0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.91 | 1.21 | -0.30 |
Correlation
The correlation between QMNIX and QLENX is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
QMNIX vs. QLENX - Dividend Comparison
QMNIX's dividend yield for the trailing twelve months is around 1.46%, less than QLENX's 1.69% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QMNIX AQR Equity Market Neutral Fund Class I | 1.46% | 1.41% | 6.10% | 21.48% | 5.95% | 1.39% | 17.42% | 3.83% | 0.48% | 3.48% | 1.51% | 2.57% |
QLENX AQR Long-Short Equity N | 1.69% | 1.64% | 7.13% | 21.21% | 14.09% | 0.00% | 1.59% | 0.00% | 6.09% | 8.91% | 2.87% | 4.91% |
Drawdowns
QMNIX vs. QLENX - Drawdown Comparison
The maximum QMNIX drawdown since its inception was -38.80%, roughly equal to the maximum QLENX drawdown of -38.50%. Use the drawdown chart below to compare losses from any high point for QMNIX and QLENX.
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Drawdown Indicators
| QMNIX | QLENX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.80% | -38.50% | -0.30% |
Max Drawdown (1Y)Largest decline over 1 year | -5.43% | -6.50% | +1.07% |
Max Drawdown (5Y)Largest decline over 5 years | -14.05% | -17.19% | +3.14% |
Max Drawdown (10Y)Largest decline over 10 years | -38.80% | -38.50% | -0.30% |
Current DrawdownCurrent decline from peak | -3.67% | -3.91% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -10.39% | -7.55% | -2.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.14% | 1.65% | +0.49% |
Volatility
QMNIX vs. QLENX - Volatility Comparison
The current volatility for AQR Equity Market Neutral Fund Class I (QMNIX) is 1.35%, while AQR Long-Short Equity N (QLENX) has a volatility of 1.92%. This indicates that QMNIX experiences smaller price fluctuations and is considered to be less risky than QLENX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QMNIX | QLENX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 1.92% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 4.16% | 4.92% | -0.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.32% | 8.66% | -2.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.50% | 10.22% | -0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.22% | 10.55% | -2.33% |