QNZNX vs. CBYYX
QNZNX (AQR Trend Total Return Fund) and CBYYX (Victory Pioneer Cat Bond Fund Class Y) are both mutual funds - QNZNX is a Systematic Trend fund actively managed by AQR, while CBYYX is a Nontraditional Bonds fund actively managed by Victory. Both are actively managed. Over the past year, QNZNX returned 31.98% vs 10.53% for CBYYX. Their 0.03 correlation means their historical movements had little consistent relationship. QNZNX charges 1.52%/yr vs 1.46%/yr for CBYYX.
Performance
QNZNX vs. CBYYX - Performance Comparison
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Returns By Period
In the year-to-date period, QNZNX achieves a 13.04% return, which is significantly higher than CBYYX's 4.19% return.
QNZNX
- 1D
- 1.06%
- 1M
- 1.85%
- 6M
- 6.46%
- YTD
- 13.04%
- 1Y
- 31.98%
- 3Y*
- 27.20%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 21.39%
CBYYX
- 1D
- 0.09%
- 1M
- 0.88%
- 6M
- 3.71%
- YTD
- 4.19%
- 1Y
- 10.53%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.90%
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 |
QNZNX vs. CBYYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
QNZNX AQR Trend Total Return Fund | 13.04% | 22.88% | 34.96% | 7.26% |
CBYYX Victory Pioneer Cat Bond Fund Class Y | 4.19% | 11.09% | 15.69% | 3.43% |
Correlation
The correlation between QNZNX and CBYYX is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.04 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2023 | 0.03 |
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Return for Risk
QNZNX vs. CBYYX — Risk / Return Rank
QNZNX
CBYYX
QNZNX vs. CBYYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Trend Total Return Fund (QNZNX) and Victory Pioneer Cat Bond Fund Class Y (CBYYX). 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.
| QNZNX | CBYYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.67 | ||
| Sortino ratioReturn per unit of downside risk | -29.99 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 10.55 | -9.14 |
| Calmar ratioReturn relative to maximum drawdown | 4.35 | 119.62 | -115.28 |
| Martin ratioReturn relative to average drawdown | 13.97 | 454.94 | -440.98 |
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Drawdowns
QNZNX vs. CBYYX - Drawdown Comparison
The maximum QNZNX drawdown since its inception was -18.38%, which is greater than CBYYX's maximum drawdown of -8.72%. Use the drawdown chart below to compare losses from any high point for QNZNX and CBYYX.
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Drawdown Indicators
| QNZNX | CBYYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.38% | -8.72% | -9.66% |
Max Drawdown (1Y)Largest decline over 1 year | -6.58% | -0.09% | -6.49% |
Max Drawdown (3Y)Largest decline over 3 years | -13.48% | — | — |
Current DrawdownCurrent decline from peak | -4.68% | 0.00% | -4.68% |
Average DrawdownAverage peak-to-trough decline | -2.82% | -1.24% | -1.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 0.02% | +2.03% |
Volatility
QNZNX vs. CBYYX - Volatility Comparison
AQR Trend Total Return Fund (QNZNX) has a higher volatility of 4.06% compared to Victory Pioneer Cat Bond Fund Class Y (CBYYX) at 0.24%. This indicates that QNZNX's price experiences larger fluctuations and is considered to be riskier than CBYYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QNZNX | CBYYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.06% | 0.24% | +3.82% |
Volatility (6M)Calculated over the trailing 6-month period | 8.23% | 0.64% | +7.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.87% | 1.20% | +10.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.15% | 7.99% | +4.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.15% | 7.99% | +4.16% |
QNZNX vs. CBYYX - Expense Ratio Comparison
QNZNX has a 1.52% expense ratio, which is higher than CBYYX's 1.46% expense ratio.
Dividends
QNZNX vs. CBYYX - Dividend Comparison
QNZNX's dividend yield for the trailing twelve months is around 0.76%, less than CBYYX's 8.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CBYYX Victory Pioneer Cat Bond Fund Class Y | 8.77% | 9.14% | 10.33% | 9.41% | 0.00% |
QNZNX AQR Trend Total Return Fund | 0.76% | 0.86% | 16.46% | 23.14% | 2.04% |
Frequently Asked Questions
QNZNX and CBYYX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QNZNX has higher volatility (4.06%) compared to CBYYX (0.24%). In terms of maximum drawdown, QNZNX dropped -18.38% vs CBYYX's -8.72%.
CBYYX currently has the higher Sharpe Ratio (9.08 vs 2.41), 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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