QTERX vs. FERGX

Last updated Apr 2, 2026

Compare and contrast key facts about AQR Emerging Multi-Style II Fund Class R6 (QTERX) and Fidelity SAI Emerging Markets Index Fund (FERGX).

QTERX is an actively managed fund by AQR Funds. It was launched on Feb 11, 2012. FERGX is managed by Fidelity. It was launched on Jan 4, 2016.

Performance

QTERX vs. FERGX - 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 Fidelity SAI Emerging Markets Index Fund (FERGX). The values are adjusted to include any dividend payments, if applicable.

QTERX vs. FERGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QTERX AQR Emerging Multi-Style II Fund Class R6	5.84%	32.94%	12.02%	12.66%	-21.13%	0.95%	17.08%	16.87%	-16.22%	35.79%
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, QTERX achieves a 5.84% return, which is significantly higher than FERGX's 3.35% return.

QTERX

• 1D: 2.68%
• 1M: -8.99%
• YTD: 5.84%
• 6M: 11.30%
• 1Y: 35.78%
• 3Y*: 19.52%
• 5Y*: 5.71%
• 10Y*: 8.82%

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)

QTERX vs. FERGX - Expense Ratio Comparison

QTERX has a 0.62% expense ratio, which is higher than FERGX's 0.08% expense ratio.

QTERX

AQR Emerging Multi-Style II Fund Class R6

FERGX

Fidelity SAI Emerging Markets Index Fund

Return for Risk

QTERX vs. FERGX — Risk / Return Rank

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

QTERX

QTERX Risk / Return Rank: 89
QTERX Sharpe Ratio Rank: 91
QTERX Sortino Ratio Rank: 90
QTERX Omega Ratio Rank: 88
QTERX Calmar Ratio Rank: 90
QTERX Martin Ratio Rank: 89

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.

QTERX vs. FERGX - 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 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.

	QTERX	FERGX	Difference
Sharpe ratio Return per unit of total volatility	2.06	1.86	+0.19
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	2.74	2.27	+0.46
Martin ratio Return relative to average drawdown	10.57	9.03	+1.54
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. FERGX - Sharpe Ratio Comparison

The current QTERX 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 QTERX 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

	QTERX	FERGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	1.86	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.22	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.43	+0.08

Correlation

The correlation between QTERX 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

QTERX vs. FERGX - Dividend Comparison

QTERX's dividend yield for the trailing twelve months is around 4.01%, more than FERGX's 2.59% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
QTERX AQR Emerging Multi-Style II Fund Class R6	4.01%	4.25%	4.91%	5.76%	4.73%	2.53%	1.68%	4.48%	2.40%	1.63%	2.57%
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

QTERX vs. FERGX - Drawdown Comparison

The maximum QTERX drawdown since its inception was -39.15%, roughly equal to the maximum FERGX drawdown of -39.27%. Use the drawdown chart below to compare losses from any high point for QTERX and FERGX.

Drawdown Indicators

	QTERX	FERGX	Difference
Max Drawdown Largest peak-to-trough decline	-39.15%	-39.27%	+0.12%
Max Drawdown (1Y) Largest decline over 1 year	-13.32%	-13.32%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-37.53%	-37.18%	-0.35%
Max Drawdown (10Y) Largest decline over 10 years	-39.15%	—	—
Current Drawdown Current decline from peak	-10.99%	-10.52%	-0.47%
Average Drawdown Average peak-to-trough decline	-12.21%	-14.56%	+2.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	3.35%	+0.10%

Volatility

QTERX vs. FERGX - Volatility Comparison

The current volatility for AQR Emerging Multi-Style II Fund Class R6 (QTERX) is 8.75%, while Fidelity SAI Emerging Markets Index Fund (FERGX) has a volatility of 9.62%. This indicates that QTERX 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

	QTERX	FERGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.75%	9.62%	-0.87%
Volatility (6M) Calculated over the trailing 6-month period	13.61%	13.68%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	17.93%	17.94%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.63%	16.84%	-0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.69%	17.85%	-0.16%