QSMLX vs. ASMOX

Last updated Jun 24, 2026

QSMLX (AQR Small Cap Multi-Style Fund) and ASMOX (AQR Small Cap Momentum Style Fund) are both mutual funds - QSMLX is a Small Cap Blend Equities fund managed by AQR Funds, while ASMOX is a Small Cap Growth Equities fund managed by AQR Funds. Their correlation of 0.95 suggests significant overlap in exposure. QSMLX charges 0.72%/yr vs 0.61%/yr for ASMOX.

Performance

QSMLX vs. ASMOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Small Cap Multi-Style Fund (QSMLX) and AQR Small Cap Momentum Style Fund (ASMOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QSMLX

• 1D: 1.20%
• 1M: 4.65%
• YTD: 25.28%
• 6M: 22.18%
• 1Y: 45.12%
• 3Y*: 24.20%
• 5Y*: 11.72%
• 10Y*: 13.05%

ASMOX

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

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

QSMLX vs. ASMOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QSMLX AQR Small Cap Multi-Style Fund	25.28%	17.41%	11.02%	24.01%	-18.31%	26.54%	17.99%	20.42%	-14.26%	9.33%
ASMOX AQR Small Cap Momentum Style Fund	17.33%	16.87%	16.54%	18.37%	-19.56%	15.37%	25.76%	26.47%	-12.14%	17.43%

Correlation

The correlation between QSMLX and ASMOX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.95

The correlation between QSMLX and ASMOX has been stable across timeframes, ranging from 0.86 to 0.95 - a consistent structural relationship.

Return for Risk

QSMLX vs. ASMOX — Risk / Return Rank

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

QSMLX

QSMLX Risk / Return Rank: 79
QSMLX Sharpe Ratio Rank: 78
QSMLX Sortino Ratio Rank: 71
QSMLX Omega Ratio Rank: 60
QSMLX Calmar Ratio Rank: 94
QSMLX Martin Ratio Rank: 92

ASMOX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

QSMLX vs. ASMOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Small Cap Multi-Style Fund (QSMLX) and AQR Small Cap Momentum Style Fund (ASMOX). 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.

	QSMLX	ASMOX	Difference
Sharpe ratio: Return per unit of total volatility	2.38	—	—
Sortino ratio: Return per unit of downside risk	3.20	—	—
Omega ratio: Gain probability vs. loss probability	1.39	—	—
Calmar ratio: Return relative to maximum drawdown	5.09	—	—
Martin ratio: Return relative to average drawdown	17.26	—	—

Drawdowns

Drawdown Indicators

	QSMLX	ASMOX	Difference
Max Drawdown Largest peak-to-trough decline	-44.38%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-9.33%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.69%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.21%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.38%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-8.15%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	—	—

Volatility

Volatility by Period

	QSMLX	ASMOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.15%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.03%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.54%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.24%	—	—

QSMLX vs. ASMOX - Expense Ratio Comparison

QSMLX has a 0.72% expense ratio, which is higher than ASMOX's 0.61% expense ratio.

Dividends

QSMLX vs. ASMOX - Dividend Comparison

QSMLX's dividend yield for the trailing twelve months is around 8.23%, more than ASMOX's 7.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASMOX AQR Small Cap Momentum Style Fund	7.88%	8.12%	18.80%	3.92%	0.57%	24.81%	5.46%	4.38%	29.63%	9.90%	0.79%	1.23%
QSMLX AQR Small Cap Multi-Style Fund	8.23%	10.31%	13.88%	6.74%	0.87%	6.13%	1.77%	0.97%	13.57%	10.71%	2.53%	0.22%

Frequently Asked Questions

Can I hold both QSMLX and ASMOX in my portfolio?

QSMLX and ASMOX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.