QMNNX vs. UTRN

Last updated Apr 2, 2026

Compare and contrast key facts about AQR Equity Market Neutral Fund N (QMNNX) and Vesper U.S. Large Cap Short-Term Reversal Strategy ETF (UTRN).

QMNNX is managed by AQR Funds. It was launched on Oct 7, 2014. UTRN is a passively managed fund by Exchange Traded Concepts that tracks the performance of the Vesper US Large Cap Short-Term Reversal Index. It was launched on Sep 21, 2018.

Performance

QMNNX vs. UTRN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Equity Market Neutral Fund N (QMNNX) and Vesper U.S. Large Cap Short-Term Reversal Strategy ETF (UTRN). The values are adjusted to include any dividend payments, if applicable.

QMNNX vs. UTRN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
QMNNX AQR Equity Market Neutral Fund N	-3.52%	26.19%	25.43%	16.30%	27.07%	17.38%	-19.79%	-11.55%	0.02%
UTRN Vesper U.S. Large Cap Short-Term Reversal Strategy ETF	0.00%	-3.65%	28.82%	0.72%	-20.36%	30.54%	19.21%	31.81%	-14.57%

Returns By Period

QMNNX

• 1D: -0.17%
• 1M: 0.43%
• YTD: -3.52%
• 6M: 1.87%
• 1Y: 10.76%
• 3Y*: 20.68%
• 5Y*: 18.37%
• 10Y*: 6.07%

UTRN

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

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

QMNNX vs. UTRN - Expense Ratio Comparison

QMNNX has a 5.28% expense ratio, which is higher than UTRN's 0.75% expense ratio.

QMNNX

AQR Equity Market Neutral Fund N

UTRN

Vesper U.S. Large Cap Short-Term Reversal Strategy ETF

Return for Risk

QMNNX vs. UTRN — Risk / Return Rank

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

QMNNX

QMNNX Risk / Return Rank: 78
QMNNX Sharpe Ratio Rank: 87
QMNNX Sortino Ratio Rank: 87
QMNNX Omega Ratio Rank: 82
QMNNX Calmar Ratio Rank: 82
QMNNX Martin Ratio Rank: 51

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.

QMNNX vs. UTRN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Equity Market Neutral Fund N (QMNNX) and Vesper U.S. Large Cap Short-Term Reversal Strategy ETF (UTRN). 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.

	QMNNX	UTRN	Difference
Sharpe ratio Return per unit of total volatility	1.77	—	—
Sortino ratio Return per unit of downside risk	2.40	—	—
Omega ratio Gain probability vs. loss probability	1.33	—	—
Calmar ratio Return relative to maximum drawdown	2.06	—	—
Martin ratio Return relative to average drawdown	5.15	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	QMNNX	UTRN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.94	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	—	—

Correlation

The correlation between QMNNX and UTRN is -0.03. 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.

Dividends

QMNNX vs. UTRN - Dividend Comparison

QMNNX's dividend yield for the trailing twelve months is around 1.30%, while UTRN has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QMNNX AQR Equity Market Neutral Fund N	1.30%	1.26%	6.06%	21.67%	5.77%	1.41%	17.64%	3.86%	0.49%	3.37%	1.19%	2.51%
UTRN Vesper U.S. Large Cap Short-Term Reversal Strategy ETF	0.00%	0.00%	1.06%	2.75%	1.09%	24.51%	9.09%	3.77%	0.71%	0.00%	0.00%	0.00%

Drawdowns

Drawdown Indicators

	QMNNX	UTRN	Difference
Max Drawdown Largest peak-to-trough decline	-39.22%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-5.47%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.23%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.22%	—	—
Current Drawdown Current decline from peak	-3.92%	—	—
Average Drawdown Average peak-to-trough decline	-10.67%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	—	—

Volatility

Volatility by Period

	QMNNX	UTRN	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.36%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.07%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.29%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.53%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.23%	—	—