QTERX vs. DODEX

Last updated Apr 1, 2026

Compare and contrast key facts about AQR Emerging Multi-Style II Fund Class R6 (QTERX) and Dodge & Cox Emerging Markets Stock Fund (DODEX).

QTERX is an actively managed fund by AQR Funds. It was launched on Feb 11, 2012. DODEX is managed by Dodge & Cox. It was launched on May 10, 2021.

Performance

QTERX vs. DODEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Emerging Multi-Style II Fund Class R6 (QTERX) and Dodge & Cox Emerging Markets Stock Fund (DODEX). The values are adjusted to include any dividend payments, if applicable.

QTERX vs. DODEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QTERX AQR Emerging Multi-Style II Fund Class R6	3.07%	32.94%	12.02%	12.66%	-21.13%	-6.24%
DODEX Dodge & Cox Emerging Markets Stock Fund	3.84%	38.64%	7.47%	13.37%	-14.91%	-9.57%

Returns By Period

In the year-to-date period, QTERX achieves a 3.07% return, which is significantly lower than DODEX's 3.84% return.

QTERX

• 1D: -0.89%
• 1M: -12.18%
• YTD: 3.07%
• 6M: 9.15%
• 1Y: 33.11%
• 3Y*: 18.47%
• 5Y*: 5.46%
• 10Y*: 8.53%

DODEX

• 1D: -0.65%
• 1M: -10.12%
• YTD: 3.84%
• 6M: 8.44%
• 1Y: 36.44%
• 3Y*: 18.51%
• 5Y*: —
• 10Y*: —

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

QTERX vs. DODEX - Expense Ratio Comparison

QTERX has a 0.62% expense ratio, which is lower than DODEX's 0.70% expense ratio.

DODEX

Dodge & Cox Emerging Markets Stock Fund

QTERX

AQR Emerging Multi-Style II Fund Class R6

Return for Risk

QTERX vs. DODEX — Risk / Return Rank

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

QTERX

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

DODEX

DODEX Risk / Return Rank: 93
DODEX Sharpe Ratio Rank: 95
DODEX Sortino Ratio Rank: 93
DODEX Omega Ratio Rank: 92
DODEX Calmar Ratio Rank: 92
DODEX Martin Ratio Rank: 92

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.

QTERX vs. DODEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Emerging Multi-Style II Fund Class R6 (QTERX) and Dodge & Cox Emerging Markets Stock Fund (DODEX). 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.

	QTERX	DODEX	Difference
Sharpe ratio Return per unit of total volatility	1.86	2.28	-0.42
Sortino ratio Return per unit of downside risk	2.43	2.84	-0.41
Omega ratio Gain probability vs. loss probability	1.36	1.44	-0.08
Calmar ratio Return relative to maximum drawdown	2.30	2.79	-0.49
Martin ratio Return relative to average drawdown	9.07	11.14	-2.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QTERX vs. DODEX - Sharpe Ratio Comparison

The current QTERX Sharpe Ratio is 1.86, which is comparable to the DODEX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of QTERX and DODEX, 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

	QTERX	DODEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	2.28	-0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	—	—
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	0.38	+0.12

Correlation

The correlation between QTERX and DODEX is 0.92, 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

QTERX vs. DODEX - Dividend Comparison

QTERX's dividend yield for the trailing twelve months is around 4.12%, more than DODEX's 2.72% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
QTERX AQR Emerging Multi-Style II Fund Class R6	4.12%	4.25%	4.91%	5.76%	4.73%	2.53%	1.68%	4.48%	2.40%	1.63%	2.57%
DODEX Dodge & Cox Emerging Markets Stock Fund	2.72%	2.83%	1.94%	1.92%	1.93%	1.38%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

QTERX vs. DODEX - Drawdown Comparison

The maximum QTERX drawdown since its inception was -39.15%, which is greater than DODEX's maximum drawdown of -37.01%. Use the drawdown chart below to compare losses from any high point for QTERX and DODEX.

Drawdown Indicators

	QTERX	DODEX	Difference
Max Drawdown Largest peak-to-trough decline	-39.15%	-37.01%	-2.14%
Max Drawdown (1Y) Largest decline over 1 year	-13.32%	-11.87%	-1.45%
Max Drawdown (5Y) Largest decline over 5 years	-37.53%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.15%	—	—
Current Drawdown Current decline from peak	-13.32%	-10.97%	-2.35%
Average Drawdown Average peak-to-trough decline	-12.21%	-13.20%	+0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.38%	2.97%	+0.41%

Volatility

QTERX vs. DODEX - Volatility Comparison

AQR Emerging Multi-Style II Fund Class R6 (QTERX) has a higher volatility of 8.13% compared to Dodge & Cox Emerging Markets Stock Fund (DODEX) at 7.14%. This indicates that QTERX's price experiences larger fluctuations and is considered to be riskier than DODEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QTERX	DODEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.13%	7.14%	+0.99%
Volatility (6M) Calculated over the trailing 6-month period	13.40%	10.99%	+2.41%
Volatility (1Y) Calculated over the trailing 1-year period	17.78%	15.57%	+2.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.59%	16.72%	-0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.67%	16.72%	+0.95%