QTELX vs. QNZNX
QTELX (AQR Emerging Multi-Style II Fund) and QNZNX (AQR Trend Total Return Fund) are both mutual funds - QTELX is a Emerging Markets Equities fund managed by AQR, while QNZNX is a Systematic Trend fund actively managed by AQR. Over the past 3 years, QTELX returned 20.24%/yr vs 27.20%/yr for QNZNX. Their 0.45 correlation means their historical movements had little consistent relationship. QTELX charges 0.70%/yr vs 1.52%/yr for QNZNX.
Performance
QTELX vs. QNZNX - Performance Comparison
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Returns By Period
In the year-to-date period, QTELX achieves a 16.53% return, which is significantly higher than QNZNX's 13.04% return.
QTELX
- 1D
- 4.19%
- 1M
- -3.99%
- 6M
- 6.24%
- YTD
- 16.53%
- 1Y
- 34.92%
- 3Y*
- 20.24%
- 5Y*
- 8.36%
- 10Y*
- 8.81%
- ALL TIME*
- 9.52%
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%
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 |
QTELX vs. QNZNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
QTELX AQR Emerging Multi-Style II Fund | 16.53% | 32.89% | 11.82% | 12.66% | -15.19% |
QNZNX AQR Trend Total Return Fund | 13.04% | 22.88% | 34.96% | 22.73% | 1.37% |
Correlation
The correlation between QTELX and QNZNX is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.64 |
Correlation (3Y) Balances recent behavior with more history. | 0.49 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | 0.45 |
The correlation between QTELX and QNZNX shifts across timeframes, from 0.45 (all time) to 0.64 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
QTELX vs. QNZNX — Risk / Return Rank
QTELX
QNZNX
QTELX vs. QNZNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Emerging Multi-Style II Fund (QTELX) and AQR Trend Total Return Fund (QNZNX). 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.
| QTELX | QNZNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.42 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 4.35 | -2.17 |
| Martin ratioReturn relative to average drawdown | 7.15 | 13.97 | -6.82 |
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Drawdowns
QTELX vs. QNZNX - Drawdown Comparison
The maximum QTELX drawdown since its inception was -40.55%, which is greater than QNZNX's maximum drawdown of -18.38%. Use the drawdown chart below to compare losses from any high point for QTELX and QNZNX.
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Drawdown Indicators
| QTELX | QNZNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.55% | -18.38% | -22.17% |
Max Drawdown (1Y)Largest decline over 1 year | -14.71% | -6.58% | -8.13% |
Max Drawdown (3Y)Largest decline over 3 years | -16.94% | -13.48% | -3.46% |
Max Drawdown (5Y)Largest decline over 5 years | -34.86% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.55% | — | — |
Current DrawdownCurrent decline from peak | -11.14% | -4.68% | -6.46% |
Average DrawdownAverage peak-to-trough decline | -12.35% | -2.82% | -9.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.47% | 2.05% | +2.42% |
Volatility
QTELX vs. QNZNX - Volatility Comparison
AQR Emerging Multi-Style II Fund (QTELX) has a higher volatility of 10.16% compared to AQR Trend Total Return Fund (QNZNX) at 4.06%. This indicates that QTELX's price experiences larger fluctuations and is considered to be riskier than QNZNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QTELX | QNZNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.16% | 4.06% | +6.10% |
Volatility (6M)Calculated over the trailing 6-month period | 21.02% | 8.23% | +12.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.02% | 11.87% | +11.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.16% | 12.15% | +6.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.31% | 12.15% | +6.16% |
QTELX vs. QNZNX - Expense Ratio Comparison
QTELX has a 0.70% expense ratio, which is lower than QNZNX's 1.52% expense ratio.
Dividends
QTELX vs. QNZNX - Dividend Comparison
QTELX's dividend yield for the trailing twelve months is around 3.62%, more than QNZNX's 0.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
QNZNX AQR Trend Total Return Fund | 0.76% | 0.86% | 16.46% | 23.14% | 2.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QTELX AQR Emerging Multi-Style II Fund | 3.62% | 4.21% | 4.84% | 5.65% | 4.60% | 2.42% | 1.53% | 2.32% | 2.32% | 1.55% | 2.51% |
Frequently Asked Questions
QTELX and QNZNX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QTELX has higher volatility (10.16%) compared to QNZNX (4.06%). In terms of maximum drawdown, QTELX dropped -40.55% vs QNZNX's -18.38%.
QNZNX currently has the higher Sharpe Ratio (2.41 vs 1.39), 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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