QMNNX vs. QAI
Compare and contrast key facts about AQR Equity Market Neutral Fund N (QMNNX) and IQ Hedge Multi-Strategy Tracker ETF (QAI).
QMNNX is managed by AQR Funds. It was launched on Oct 7, 2014. QAI is a passively managed fund by New York Life that tracks the performance of the IQ Hedge Multi-Strategy Index. It was launched on Mar 25, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: QMNNX or QAI.
Correlation
The correlation between QMNNX and QAI is -0.07. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
QMNNX vs. QAI - Performance Comparison
Key characteristics
QMNNX:
2.90
QAI:
-0.19
QMNNX:
3.99
QAI:
-0.19
QMNNX:
1.57
QAI:
0.97
QMNNX:
4.25
QAI:
-0.15
QMNNX:
15.71
QAI:
-0.84
QMNNX:
1.21%
QAI:
1.42%
QMNNX:
6.53%
QAI:
6.39%
QMNNX:
-50.11%
QAI:
-14.95%
QMNNX:
-1.39%
QAI:
-7.78%
Returns By Period
In the year-to-date period, QMNNX achieves a 8.58% return, which is significantly higher than QAI's -5.25% return. Over the past 10 years, QMNNX has outperformed QAI with an annualized return of 4.42%, while QAI has yielded a comparatively lower 1.36% annualized return.
QMNNX
8.58%
1.43%
16.13%
19.08%
11.37%
4.42%
QAI
-5.25%
-5.55%
-4.84%
-1.33%
2.65%
1.36%
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QMNNX vs. QAI - Expense Ratio Comparison
QMNNX has a 5.28% expense ratio, which is higher than QAI's 0.79% expense ratio.
Risk-Adjusted Performance
QMNNX vs. QAI — Risk-Adjusted Performance Rank
QMNNX
QAI
QMNNX vs. QAI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Equity Market Neutral Fund N (QMNNX) and IQ Hedge Multi-Strategy Tracker ETF (QAI). 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.
Dividends
QMNNX vs. QAI - Dividend Comparison
QMNNX's dividend yield for the trailing twelve months is around 5.59%, more than QAI's 2.35% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QMNNX AQR Equity Market Neutral Fund N | 5.59% | 6.07% | 21.59% | 5.78% | 0.00% | 0.00% | 0.00% | 0.49% | 3.37% | 1.18% | 2.40% | 5.79% |
QAI IQ Hedge Multi-Strategy Tracker ETF | 2.35% | 2.23% | 4.08% | 2.00% | 0.28% | 1.98% | 1.91% | 1.90% | 0.00% | 0.00% | 0.48% | 1.34% |
Drawdowns
QMNNX vs. QAI - Drawdown Comparison
The maximum QMNNX drawdown since its inception was -50.11%, which is greater than QAI's maximum drawdown of -14.95%. Use the drawdown chart below to compare losses from any high point for QMNNX and QAI. For additional features, visit the drawdowns tool.
Volatility
QMNNX vs. QAI - Volatility Comparison
The current volatility for AQR Equity Market Neutral Fund N (QMNNX) is 2.80%, while IQ Hedge Multi-Strategy Tracker ETF (QAI) has a volatility of 3.74%. This indicates that QMNNX experiences smaller price fluctuations and is considered to be less risky than QAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.