QNZNX vs. QDSNX

Last updated Apr 2, 2026

Compare and contrast key facts about AQR Trend Total Return Fund (QNZNX) and AQR Diversifying Strategies Fund Class N (QDSNX).

QNZNX is an actively managed fund by AQR Funds. It was launched on Dec 16, 2021. QDSNX is an actively managed fund by AQR Funds. It was launched on Jun 8, 2020.

Performance

QNZNX vs. QDSNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Trend Total Return Fund (QNZNX) and AQR Diversifying Strategies Fund Class N (QDSNX). The values are adjusted to include any dividend payments, if applicable.

QNZNX vs. QDSNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
QNZNX AQR Trend Total Return Fund	6.92%	22.88%	34.96%	22.73%	1.37%
QDSNX AQR Diversifying Strategies Fund Class N	3.15%	16.14%	9.56%	8.62%	6.22%

Returns By Period

In the year-to-date period, QNZNX achieves a 6.92% return, which is significantly higher than QDSNX's 3.15% return.

QNZNX

• 1D: 0.88%
• 1M: -1.38%
• YTD: 6.92%
• 6M: 11.48%
• 1Y: 27.14%
• 3Y*: 28.03%
• 5Y*: —
• 10Y*: —

QDSNX

• 1D: 0.35%
• 1M: -0.83%
• YTD: 3.15%
• 6M: 5.90%
• 1Y: 11.69%
• 3Y*: 12.58%
• 5Y*: 10.95%
• 10Y*: —

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

QNZNX vs. QDSNX - Expense Ratio Comparison

QNZNX has a 1.52% expense ratio, which is lower than QDSNX's 3.30% expense ratio.

QDSNX

AQR Diversifying Strategies Fund Class N

QNZNX

AQR Trend Total Return Fund

Return for Risk

QNZNX vs. QDSNX — Risk / Return Rank

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

QNZNX

QNZNX Risk / Return Rank: 91
QNZNX Sharpe Ratio Rank: 92
QNZNX Sortino Ratio Rank: 89
QNZNX Omega Ratio Rank: 89
QNZNX Calmar Ratio Rank: 92
QNZNX Martin Ratio Rank: 95

QDSNX

QDSNX Risk / Return Rank: 88
QDSNX Sharpe Ratio Rank: 91
QDSNX Sortino Ratio Rank: 88
QDSNX Omega Ratio Rank: 90
QDSNX Calmar Ratio Rank: 86
QDSNX Martin Ratio Rank: 87

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.

QNZNX vs. QDSNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Trend Total Return Fund (QNZNX) and AQR Diversifying Strategies Fund Class N (QDSNX). 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.

	QNZNX	QDSNX	Difference
Sharpe ratio Return per unit of total volatility	2.04	1.95	+0.08
Sortino ratio Return per unit of downside risk	2.55	2.47	+0.09
Omega ratio Gain probability vs. loss probability	1.40	1.41	-0.01
Calmar ratio Return relative to maximum drawdown	2.76	2.26	+0.50
Martin ratio Return relative to average drawdown	13.76	9.64	+4.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QNZNX vs. QDSNX - Sharpe Ratio Comparison

The current QNZNX Sharpe Ratio is 2.04, which is comparable to the QDSNX Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of QNZNX and QDSNX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QNZNX	QDSNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	1.95	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.44	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.79	1.59	+0.19

Correlation

The correlation between QNZNX and QDSNX is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

QNZNX vs. QDSNX - Dividend Comparison

QNZNX's dividend yield for the trailing twelve months is around 0.80%, less than QDSNX's 1.93% yield.

	TTM	2025	2024	2023	2022	2021	2020
QNZNX AQR Trend Total Return Fund	0.80%	0.86%	16.46%	23.14%	2.04%	0.00%	0.00%
QDSNX AQR Diversifying Strategies Fund Class N	1.93%	1.99%	0.00%	11.18%	8.01%	5.99%	1.83%

Drawdowns

QNZNX vs. QDSNX - Drawdown Comparison

The maximum QNZNX drawdown since its inception was -18.38%, which is greater than QDSNX's maximum drawdown of -7.15%. Use the drawdown chart below to compare losses from any high point for QNZNX and QDSNX.

Drawdown Indicators

	QNZNX	QDSNX	Difference
Max Drawdown Largest peak-to-trough decline	-18.38%	-7.15%	-11.23%
Max Drawdown (1Y) Largest decline over 1 year	-10.29%	-5.48%	-4.81%
Max Drawdown (5Y) Largest decline over 5 years	—	-7.15%	—
Current Drawdown Current decline from peak	-2.17%	-0.96%	-1.21%
Average Drawdown Average peak-to-trough decline	-2.88%	-1.49%	-1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	1.30%	+0.77%

Volatility

QNZNX vs. QDSNX - Volatility Comparison

AQR Trend Total Return Fund (QNZNX) has a higher volatility of 2.66% compared to AQR Diversifying Strategies Fund Class N (QDSNX) at 1.61%. This indicates that QNZNX's price experiences larger fluctuations and is considered to be riskier than QDSNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QNZNX	QDSNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.66%	1.61%	+1.05%
Volatility (6M) Calculated over the trailing 6-month period	8.89%	3.69%	+5.20%
Volatility (1Y) Calculated over the trailing 1-year period	13.67%	6.32%	+7.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.20%	7.63%	+4.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.20%	7.37%	+4.83%