QTELX vs. FERGX

Last updated Apr 2, 2026

Compare and contrast key facts about AQR Emerging Multi-Style II Fund (QTELX) and Fidelity SAI Emerging Markets Index Fund (FERGX).

QTELX is managed by AQR Funds. It was launched on Feb 10, 2015. FERGX is managed by Fidelity. It was launched on Jan 4, 2016.

Performance

QTELX vs. FERGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Emerging Multi-Style II Fund (QTELX) and Fidelity SAI Emerging Markets Index Fund (FERGX). The values are adjusted to include any dividend payments, if applicable.

QTELX vs. FERGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QTELX AQR Emerging Multi-Style II Fund	5.84%	32.89%	11.82%	12.66%	-21.29%	0.92%	16.90%	14.27%	-16.22%	35.57%
FERGX Fidelity SAI Emerging Markets Index Fund	3.35%	33.86%	6.59%	9.41%	-20.19%	-3.05%	17.46%	18.22%	-14.52%	33.62%

Returns By Period

In the year-to-date period, QTELX achieves a 5.84% return, which is significantly higher than FERGX's 3.35% return.

QTELX

• 1D: 2.76%
• 1M: -8.99%
• YTD: 5.84%
• 6M: 11.26%
• 1Y: 35.74%
• 3Y*: 19.44%
• 5Y*: 5.62%
• 10Y*: 8.48%

FERGX

• 1D: 3.23%
• 1M: -8.17%
• YTD: 3.35%
• 6M: 7.00%
• 1Y: 32.37%
• 3Y*: 15.69%
• 5Y*: 3.68%
• 10Y*: —

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

QTELX vs. FERGX - Expense Ratio Comparison

QTELX has a 0.70% expense ratio, which is higher than FERGX's 0.08% expense ratio.

QTELX

AQR Emerging Multi-Style II Fund

FERGX

Fidelity SAI Emerging Markets Index Fund

Return for Risk

QTELX vs. FERGX — Risk / Return Rank

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

QTELX

QTELX Risk / Return Rank: 90
QTELX Sharpe Ratio Rank: 92
QTELX Sortino Ratio Rank: 90
QTELX Omega Ratio Rank: 88
QTELX Calmar Ratio Rank: 90
QTELX Martin Ratio Rank: 90

FERGX

FERGX Risk / Return Rank: 86
FERGX Sharpe Ratio Rank: 89
FERGX Sortino Ratio Rank: 88
FERGX Omega Ratio Rank: 85
FERGX Calmar Ratio Rank: 86
FERGX Martin Ratio Rank: 85

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.

QTELX vs. FERGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Emerging Multi-Style II Fund (QTELX) and Fidelity SAI Emerging Markets Index Fund (FERGX). 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.

	QTELX	FERGX	Difference
Sharpe ratio Return per unit of total volatility	2.06	1.86	+0.20
Sortino ratio Return per unit of downside risk	2.66	2.45	+0.21
Omega ratio Gain probability vs. loss probability	1.40	1.36	+0.03
Calmar ratio Return relative to maximum drawdown	2.71	2.27	+0.44
Martin ratio Return relative to average drawdown	10.50	9.03	+1.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QTELX vs. FERGX - Sharpe Ratio Comparison

The current QTELX Sharpe Ratio is 2.06, which is comparable to the FERGX Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of QTELX and FERGX, 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

	QTELX	FERGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	1.86	+0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.22	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.43	+0.07

Correlation

The correlation between QTELX and FERGX is 0.96, 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

QTELX vs. FERGX - Dividend Comparison

QTELX's dividend yield for the trailing twelve months is around 3.98%, more than FERGX's 2.59% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
QTELX AQR Emerging Multi-Style II Fund	3.98%	4.21%	4.84%	5.65%	4.60%	2.42%	1.53%	2.32%	2.32%	1.55%	2.51%
FERGX Fidelity SAI Emerging Markets Index Fund	2.59%	2.67%	2.40%	2.67%	2.51%	2.90%	1.49%	2.49%	2.58%	0.58%	0.00%

Drawdowns

QTELX vs. FERGX - Drawdown Comparison

The maximum QTELX drawdown since its inception was -40.55%, roughly equal to the maximum FERGX drawdown of -39.27%. Use the drawdown chart below to compare losses from any high point for QTELX and FERGX.

Drawdown Indicators

	QTELX	FERGX	Difference
Max Drawdown Largest peak-to-trough decline	-40.55%	-39.27%	-1.28%
Max Drawdown (1Y) Largest decline over 1 year	-13.38%	-13.32%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	-37.60%	-37.18%	-0.42%
Max Drawdown (10Y) Largest decline over 10 years	-40.55%	—	—
Current Drawdown Current decline from peak	-10.99%	-10.52%	-0.47%
Average Drawdown Average peak-to-trough decline	-12.62%	-14.56%	+1.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	3.35%	+0.10%

Volatility

QTELX vs. FERGX - Volatility Comparison

The current volatility for AQR Emerging Multi-Style II Fund (QTELX) is 8.78%, while Fidelity SAI Emerging Markets Index Fund (FERGX) has a volatility of 9.62%. This indicates that QTELX experiences smaller price fluctuations and is considered to be less risky than FERGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QTELX	FERGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.78%	9.62%	-0.84%
Volatility (6M) Calculated over the trailing 6-month period	13.58%	13.68%	-0.10%
Volatility (1Y) Calculated over the trailing 1-year period	17.88%	17.94%	-0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.64%	16.84%	-0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.66%	17.85%	-0.19%