QNZIX vs. JIVE

Last updated Jun 4, 2026

QNZIX (AQR Trend Total Return Fund Class I) and JIVE (Jpmorgan International Value ETF) are both funds - QNZIX is a Systematic Trend fund actively managed by AQR Funds, while JIVE is a Foreign Large Cap Equities fund actively managed by JPMorgan. Both are actively managed. Over the past year, QNZIX returned 38.49% vs 42.79% for JIVE. At a 0.48 correlation, their price movements are largely independent. QNZIX charges 1.27%/yr vs 0.55%/yr for JIVE.

Performance

QNZIX vs. JIVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Trend Total Return Fund Class I (QNZIX) and Jpmorgan International Value ETF (JIVE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QNZIX achieves a 18.23% return, which is significantly higher than JIVE's 15.75% return.

QNZIX

• 1D: 0.69%
• 1M: 4.17%
• YTD: 18.23%
• 6M: 20.50%
• 1Y: 38.49%
• 3Y*: 32.65%
• 5Y*: —
• 10Y*: —

JIVE

• 1D: -1.02%
• 1M: 4.12%
• YTD: 15.75%
• 6M: 20.07%
• 1Y: 42.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QNZIX vs. JIVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QNZIX AQR Trend Total Return Fund Class I	18.23%	23.26%	35.22%	5.21%
JIVE Jpmorgan International Value ETF	15.75%	49.80%	11.22%	5.38%

Correlation

The correlation between QNZIX and JIVE is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023	0.48

The correlation between QNZIX and JIVE has been stable across timeframes, ranging from 0.48 to 0.51 - a consistent structural relationship.

Return for Risk

QNZIX vs. JIVE — Risk / Return Rank

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

QNZIX

QNZIX Risk / Return Rank: 95
QNZIX Sharpe Ratio Rank: 97
QNZIX Sortino Ratio Rank: 93
QNZIX Omega Ratio Rank: 91
QNZIX Calmar Ratio Rank: 98
QNZIX Martin Ratio Rank: 98

JIVE

JIVE Risk / Return Rank: 83
JIVE Sharpe Ratio Rank: 88
JIVE Sortino Ratio Rank: 85
JIVE Omega Ratio Rank: 85
JIVE Calmar Ratio Rank: 78
JIVE Martin Ratio Rank: 79

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.

QNZIX vs. JIVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Trend Total Return Fund Class I (QNZIX) and Jpmorgan International Value ETF (JIVE). 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.

	QNZIX	JIVE	Difference
Sharpe ratio: Return per unit of total volatility	3.65	2.98	+0.67
Sortino ratio: Return per unit of downside risk	4.76	3.91	+0.84
Omega ratio: Gain probability vs. loss probability	1.65	1.53	+0.13
Calmar ratio: Return relative to maximum drawdown	8.07	4.07	+4.00
Martin ratio: Return relative to average drawdown	32.68	15.74	+16.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QNZIX vs. JIVE - Sharpe Ratio Comparison

The current QNZIX Sharpe Ratio is 3.65, which is comparable to the JIVE Sharpe Ratio of 2.98. The chart below compares the historical Sharpe Ratios of QNZIX and JIVE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QNZIX	JIVE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.65	2.98	+0.67
Sharpe Ratio (All Time) Calculated using the full available price history	2.00	2.01	-0.01

Drawdowns

QNZIX vs. JIVE - Drawdown Comparison

The maximum QNZIX drawdown since its inception was -18.35%, which is greater than JIVE's maximum drawdown of -13.79%. Use the drawdown chart below to compare losses from any high point for QNZIX and JIVE.

Drawdown Indicators

	QNZIX	JIVE	Difference
Max Drawdown Largest peak-to-trough decline	-18.35%	-13.79%	-4.56%
Max Drawdown (1Y) Largest decline over 1 year	-4.86%	-10.57%	+5.71%
Max Drawdown (3Y) Largest decline over 3 years	-13.51%	—	—
Current Drawdown Current decline from peak	0.00%	-1.02%	+1.02%
Average Drawdown Average peak-to-trough decline	-2.77%	-1.96%	-0.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.20%	2.73%	-1.53%

Volatility

QNZIX vs. JIVE - Volatility Comparison

The current volatility for AQR Trend Total Return Fund Class I (QNZIX) is 2.27%, while Jpmorgan International Value ETF (JIVE) has a volatility of 4.93%. This indicates that QNZIX experiences smaller price fluctuations and is considered to be less risky than JIVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QNZIX	JIVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.27%	4.93%	-2.66%
Volatility (6M) Calculated over the trailing 6-month period	7.15%	11.99%	-4.84%
Volatility (1Y) Calculated over the trailing 1-year period	10.80%	14.46%	-3.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.04%	14.97%	-2.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.04%	14.97%	-2.93%

QNZIX vs. JIVE - Expense Ratio Comparison

QNZIX has a 1.27% expense ratio, which is higher than JIVE's 0.55% expense ratio.

Dividends

QNZIX vs. JIVE - Dividend Comparison

QNZIX's dividend yield for the trailing twelve months is around 0.90%, less than JIVE's 2.48% yield.

Position	TTM	2025	2024	2023	2022
JIVE Jpmorgan International Value ETF	2.48%	2.88%	2.48%	0.74%	0.00%
QNZIX AQR Trend Total Return Fund Class I	0.90%	1.07%	16.81%	23.32%	2.14%

Frequently Asked Questions

Can I hold both QNZIX and JIVE in my portfolio?

QNZIX and JIVE have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QNZIX or JIVE?

JIVE has higher volatility (4.93%) compared to QNZIX (2.27%). In terms of maximum drawdown, QNZIX dropped -18.35% vs JIVE's -13.79%.

Which has better risk-adjusted returns?

QNZIX currently has the higher Sharpe Ratio (3.65 vs 2.98), 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.