QUERX vs. AMFEX

Last updated Jun 4, 2026

QUERX (AQR Large Cap Defensive Style Fund Class R6) and AMFEX (AAMA Equity Fund) are both Large Cap Blend Equities funds. Over the past 5 years, QUERX returned 6.97%/yr vs 11.53%/yr for AMFEX. Their correlation of 0.89 suggests significant overlap in exposure. QUERX charges 0.31%/yr vs 1.17%/yr for AMFEX.

Performance

QUERX vs. AMFEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Large Cap Defensive Style Fund Class R6 (QUERX) and AAMA Equity Fund (AMFEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QUERX achieves a 7.05% return, which is significantly lower than AMFEX's 13.36% return.

QUERX

• 1D: 0.00%
• 1M: 2.78%
• YTD: 7.05%
• 6M: 6.46%
• 1Y: 8.20%
• 3Y*: 11.92%
• 5Y*: 6.97%
• 10Y*: 11.11%

AMFEX

• 1D: 0.90%
• 1M: 4.82%
• YTD: 13.36%
• 6M: 13.44%
• 1Y: 28.62%
• 3Y*: 19.23%
• 5Y*: 11.53%
• 10Y*: —

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

QUERX vs. AMFEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
QUERX AQR Large Cap Defensive Style Fund Class R6	7.05%	6.98%	13.98%	9.55%	-13.73%	23.56%	13.20%	28.82%	-8.17%
AMFEX AAMA Equity Fund	13.36%	17.33%	16.28%	17.32%	-14.08%	22.58%	12.70%	24.62%	-9.60%

Correlation

The correlation between QUERX and AMFEX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Nov 8, 2018	0.89

Over the past year, the correlation between QUERX and AMFEX has dropped to 0.68 - well below their long-term average of 0.89, suggesting their price drivers have been diverging.

Return for Risk

QUERX vs. AMFEX — Risk / Return Rank

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

QUERX

QUERX Risk / Return Rank: 15
QUERX Sharpe Ratio Rank: 14
QUERX Sortino Ratio Rank: 15
QUERX Omega Ratio Rank: 13
QUERX Calmar Ratio Rank: 16
QUERX Martin Ratio Rank: 17

AMFEX

AMFEX Risk / Return Rank: 89
AMFEX Sharpe Ratio Rank: 92
AMFEX Sortino Ratio Rank: 88
AMFEX Omega Ratio Rank: 83
AMFEX Calmar Ratio Rank: 91
AMFEX Martin Ratio Rank: 94

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.

QUERX vs. AMFEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Large Cap Defensive Style Fund Class R6 (QUERX) and AAMA Equity Fund (AMFEX). 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.

	QUERX	AMFEX	Difference
Sharpe ratio: Return per unit of total volatility	1.06	3.09	-2.03
Sortino ratio: Return per unit of downside risk	1.56	4.21	-2.64
Omega ratio: Gain probability vs. loss probability	1.18	1.55	-0.37
Calmar ratio: Return relative to maximum drawdown	1.41	4.84	-3.43
Martin ratio: Return relative to average drawdown	4.75	20.79	-16.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QUERX vs. AMFEX - Sharpe Ratio Comparison

The current QUERX Sharpe Ratio is 1.06, which is lower than the AMFEX Sharpe Ratio of 3.09. The chart below compares the historical Sharpe Ratios of QUERX and AMFEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QUERX	AMFEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	3.09	-2.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.82	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.74	-0.01

Drawdowns

QUERX vs. AMFEX - Drawdown Comparison

The maximum QUERX drawdown since its inception was -30.81%, roughly equal to the maximum AMFEX drawdown of -30.41%. Use the drawdown chart below to compare losses from any high point for QUERX and AMFEX.

Drawdown Indicators

	QUERX	AMFEX	Difference
Max Drawdown Largest peak-to-trough decline	-30.81%	-30.41%	-0.40%
Max Drawdown (1Y) Largest decline over 1 year	-5.93%	-6.07%	+0.14%
Max Drawdown (3Y) Largest decline over 3 years	-10.21%	-15.23%	+5.02%
Max Drawdown (5Y) Largest decline over 5 years	-22.04%	-21.21%	-0.83%
Max Drawdown (10Y) Largest decline over 10 years	-30.81%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.92%	-4.31%	+0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	1.41%	+0.34%

Volatility

QUERX vs. AMFEX - Volatility Comparison

The current volatility for AQR Large Cap Defensive Style Fund Class R6 (QUERX) is 1.98%, while AAMA Equity Fund (AMFEX) has a volatility of 2.44%. This indicates that QUERX experiences smaller price fluctuations and is considered to be less risky than AMFEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QUERX	AMFEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.98%	2.44%	-0.46%
Volatility (6M) Calculated over the trailing 6-month period	5.59%	7.17%	-1.58%
Volatility (1Y) Calculated over the trailing 1-year period	7.91%	9.52%	-1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.00%	14.18%	-1.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.22%	16.95%	-1.73%

QUERX vs. AMFEX - Expense Ratio Comparison

QUERX has a 0.31% expense ratio, which is lower than AMFEX's 1.17% expense ratio.

Dividends

QUERX vs. AMFEX - Dividend Comparison

QUERX's dividend yield for the trailing twelve months is around 21.35%, more than AMFEX's 10.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMFEX AAMA Equity Fund	10.58%	11.99%	9.19%	0.92%	4.82%	0.22%	0.44%	0.78%	0.83%	0.00%	0.00%	0.00%
QUERX AQR Large Cap Defensive Style Fund Class R6	21.35%	22.86%	24.47%	24.43%	10.37%	2.62%	1.37%	1.18%	1.74%	2.45%	2.06%	6.28%

Frequently Asked Questions

Can I hold both QUERX and AMFEX in my portfolio?

QUERX and AMFEX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QUERX or AMFEX?

AMFEX has higher volatility (2.44%) compared to QUERX (1.98%). In terms of maximum drawdown, QUERX dropped -30.81% vs AMFEX's -30.41%.

Which has better risk-adjusted returns?

AMFEX currently has the higher Sharpe Ratio (3.09 vs 1.06), 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.