QMNNX vs. BDMIX
QMNNX (AQR Equity Market Neutral Fund Class N) and BDMIX (BlackRock Global Equity Market Neutral Fund Class I) are both Equity Market Neutral funds. Over the past 10 years, QMNNX returned 6.00%/yr vs 8.60%/yr for BDMIX. Their 0.27 correlation means their historical movements had little consistent relationship. QMNNX charges 1.62%/yr vs 1.34%/yr for BDMIX.
Performance
QMNNX vs. BDMIX - Performance Comparison
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Returns By Period
In the year-to-date period, QMNNX achieves a -5.90% return, which is significantly lower than BDMIX's 12.78% return. Over the past 10 years, QMNNX has underperformed BDMIX with an annualized return of 6.00%, while BDMIX has yielded a comparatively higher 8.60% annualized return.
QMNNX
- 1D
- 0.09%
- 1M
- 4.08%
- 6M
- -2.79%
- YTD
- -5.90%
- 1Y
- 4.82%
- 3Y*
- 16.77%
- 5Y*
- 18.46%
- 10Y*
- 6.00%
- ALL TIME*
- 6.67%
BDMIX
- 1D
- -0.13%
- 1M
- 2.32%
- 6M
- 10.88%
- YTD
- 12.78%
- 1Y
- 23.31%
- 3Y*
- 21.04%
- 5Y*
- 13.23%
- 10Y*
- 8.60%
- ALL TIME*
- 6.92%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
QMNNX vs. BDMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QMNNX AQR Equity Market Neutral Fund Class N | -5.90% | 26.19% | 25.43% | 16.30% | 27.07% | 17.38% | -19.79% | -11.55% | -11.94% | 5.56% |
BDMIX BlackRock Global Equity Market Neutral Fund Class I | 12.78% | 18.30% | 21.39% | 14.55% | 1.80% | 3.34% | 0.29% | -0.85% | 2.20% | 12.85% |
Correlation
The correlation between QMNNX and BDMIX is 0.45, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.45 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.28 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | 0.27 |
The correlation between QMNNX and BDMIX shifts across timeframes, from 0.27 (all time) to 0.45 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
QMNNX vs. BDMIX — Risk / Return Rank
QMNNX
BDMIX
QMNNX vs. BDMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Equity Market Neutral Fund Class N (QMNNX) and BlackRock Global Equity Market Neutral Fund Class I (BDMIX). 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.
| QMNNX | BDMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.50 | ||
| Sortino ratioReturn per unit of downside risk | -3.59 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.62 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | 7.55 | -6.99 |
| Martin ratioReturn relative to average drawdown | 1.17 | 20.05 | -18.88 |
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Drawdowns
QMNNX vs. BDMIX - Drawdown Comparison
The maximum QMNNX drawdown since its inception was -39.22%, which is greater than BDMIX's maximum drawdown of -11.89%. Use the drawdown chart below to compare losses from any high point for QMNNX and BDMIX.
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Drawdown Indicators
| QMNNX | BDMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.22% | -11.89% | -27.33% |
Max Drawdown (1Y)Largest decline over 1 year | -9.96% | -3.24% | -6.72% |
Max Drawdown (3Y)Largest decline over 3 years | -9.96% | -4.07% | -5.89% |
Max Drawdown (5Y)Largest decline over 5 years | -13.98% | -4.91% | -9.07% |
Max Drawdown (10Y)Largest decline over 10 years | -39.22% | -9.44% | -29.78% |
Current DrawdownCurrent decline from peak | -6.29% | -0.41% | -5.88% |
Average DrawdownAverage peak-to-trough decline | -10.57% | -2.66% | -7.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.79% | 1.22% | +3.57% |
Volatility
QMNNX vs. BDMIX - Volatility Comparison
AQR Equity Market Neutral Fund Class N (QMNNX) and BlackRock Global Equity Market Neutral Fund Class I (BDMIX) have volatilities of 2.50% and 2.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QMNNX | BDMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 2.53% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 5.65% | 5.41% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.00% | 7.44% | -0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.30% | 6.69% | +2.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.35% | 5.91% | +2.44% |
QMNNX vs. BDMIX - Expense Ratio Comparison
QMNNX has a 1.62% expense ratio, which is higher than BDMIX's 1.34% expense ratio.
Dividends
QMNNX vs. BDMIX - Dividend Comparison
QMNNX's dividend yield for the trailing twelve months is around 1.33%, less than BDMIX's 11.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BDMIX BlackRock Global Equity Market Neutral Fund Class I | 11.48% | 8.94% | 13.26% | 7.42% | 0.00% | 1.23% | 0.30% | 6.78% | 0.94% | 0.00% | 0.00% | 1.86% |
QMNNX AQR Equity Market Neutral Fund Class N | 1.33% | 1.26% | 6.06% | 21.67% | 5.77% | 1.41% | 17.64% | 3.86% | 0.49% | 3.37% | 1.19% | 2.51% |
Frequently Asked Questions
QMNNX and BDMIX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDMIX has higher volatility (2.53%) compared to QMNNX (2.50%). In terms of maximum drawdown, QMNNX dropped -39.22% vs BDMIX's -11.89%.
BDMIX currently has the higher Sharpe Ratio (3.30 vs 0.80), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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