QNZNX vs. QNZIX

Last updated Apr 2, 2026

Compare and contrast key facts about AQR Trend Total Return Fund (QNZNX) and AQR Trend Total Return Fund Class I (QNZIX).

QNZNX is an actively managed fund by AQR Funds. It was launched on Dec 16, 2021. QNZIX is an actively managed fund by AQR Funds. It was launched on Dec 16, 2021.

Performance

QNZNX vs. QNZIX - Performance Comparison

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

QNZNX vs. QNZIX - 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%
QNZIX AQR Trend Total Return Fund Class I	6.97%	23.26%	35.22%	23.03%	1.57%

Returns By Period

The year-to-date returns for both investments are quite close, with QNZNX having a 6.92% return and QNZIX slightly higher at 6.97%.

QNZNX

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

QNZIX

• 1D: 0.94%
• 1M: -1.32%
• YTD: 6.97%
• 6M: 11.69%
• 1Y: 27.41%
• 3Y*: 28.37%
• 5Y*: —
• 10Y*: —

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

QNZNX vs. QNZIX - Expense Ratio Comparison

QNZNX has a 1.52% expense ratio, which is higher than QNZIX's 1.27% expense ratio.

QNZNX

AQR Trend Total Return Fund

QNZIX

AQR Trend Total Return Fund Class I

Return for Risk

QNZNX vs. QNZIX — 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

QNZIX

QNZIX Risk / Return Rank: 92
QNZIX Sharpe Ratio Rank: 93
QNZIX Sortino Ratio Rank: 90
QNZIX Omega Ratio Rank: 89
QNZIX Calmar Ratio Rank: 92
QNZIX Martin Ratio Rank: 96

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. QNZIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Trend Total Return Fund (QNZNX) and AQR Trend Total Return Fund Class I (QNZIX). 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	QNZIX	Difference
Sharpe ratio Return per unit of total volatility	2.04	2.06	-0.02
Sortino ratio Return per unit of downside risk	2.55	2.58	-0.02
Omega ratio Gain probability vs. loss probability	1.40	1.40	0.00
Calmar ratio Return relative to maximum drawdown	2.76	2.79	-0.02
Martin ratio Return relative to average drawdown	13.76	13.91	-0.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QNZNX vs. QNZIX - Sharpe Ratio Comparison

The current QNZNX Sharpe Ratio is 2.04, which is comparable to the QNZIX Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of QNZNX and QNZIX, 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	QNZIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	2.06	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	1.79	1.81	-0.03

Correlation

The correlation between QNZNX and QNZIX is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

QNZNX vs. QNZIX - Dividend Comparison

QNZNX's dividend yield for the trailing twelve months is around 0.80%, less than QNZIX's 1.00% yield.

	TTM	2025	2024	2023	2022
QNZNX AQR Trend Total Return Fund	0.80%	0.86%	16.46%	23.14%	2.04%
QNZIX AQR Trend Total Return Fund Class I	1.00%	1.07%	16.81%	23.32%	2.14%

Drawdowns

QNZNX vs. QNZIX - Drawdown Comparison

The maximum QNZNX drawdown since its inception was -18.38%, roughly equal to the maximum QNZIX drawdown of -18.35%. Use the drawdown chart below to compare losses from any high point for QNZNX and QNZIX.

Drawdown Indicators

	QNZNX	QNZIX	Difference
Max Drawdown Largest peak-to-trough decline	-18.38%	-18.35%	-0.03%
Max Drawdown (1Y) Largest decline over 1 year	-10.29%	-10.27%	-0.02%
Current Drawdown Current decline from peak	-2.17%	-2.11%	-0.06%
Average Drawdown Average peak-to-trough decline	-2.88%	-2.87%	-0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	2.07%	0.00%

Volatility

QNZNX vs. QNZIX - Volatility Comparison

AQR Trend Total Return Fund (QNZNX) and AQR Trend Total Return Fund Class I (QNZIX) have volatilities of 2.66% and 2.71%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QNZNX	QNZIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.66%	2.71%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	8.89%	8.92%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	13.67%	13.67%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.20%	12.19%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.20%	12.19%	+0.01%