TTDAX vs. QLEIX

Last updated Jun 4, 2026

TTDAX (Toews Tactical Defensive Alpha Fund) and QLEIX (AQR Long-Short Equity Fund) are both Long-Short funds. At a 0.44 correlation, their price movements are largely independent. TTDAX charges 1.25%/yr vs 1.30%/yr for QLEIX.

Performance

TTDAX vs. QLEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Toews Tactical Defensive Alpha Fund (TTDAX) and AQR Long-Short Equity Fund (QLEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TTDAX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QLEIX

• 1D: -0.19%
• 1M: 3.51%
• YTD: 0.38%
• 6M: 4.79%
• 1Y: 16.04%
• 3Y*: 27.72%
• 5Y*: 21.93%
• 10Y*: 12.02%

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

TTDAX vs. QLEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TTDAX Toews Tactical Defensive Alpha Fund	-5.84%	10.90%	2.87%	7.65%	-16.61%	12.36%	17.14%	22.12%	-7.35%	14.90%
QLEIX AQR Long-Short Equity Fund	0.38%	34.43%	30.50%	23.95%	19.18%	31.10%	-13.92%	1.19%	-16.33%	16.10%

Correlation

The correlation between TTDAX and QLEIX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.44

Return for Risk

TTDAX vs. QLEIX — Risk / Return Rank

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

QLEIX

QLEIX Risk / Return Rank: 53
QLEIX Sharpe Ratio Rank: 59
QLEIX Sortino Ratio Rank: 63
QLEIX Omega Ratio Rank: 56
QLEIX Calmar Ratio Rank: 50
QLEIX Martin Ratio Rank: 39

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.

TTDAX vs. QLEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Toews Tactical Defensive Alpha Fund (TTDAX) and AQR Long-Short Equity Fund (QLEIX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TTDAX	QLEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.26	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	2.18	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.14	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.13	—

Drawdowns

Drawdown Indicators

	TTDAX	QLEIX	Difference
Max Drawdown Largest peak-to-trough decline	—	-38.11%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-6.01%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-7.07%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.07%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.11%	—
Current Drawdown Current decline from peak	—	-0.23%	—
Average Drawdown Average peak-to-trough decline	—	-7.73%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.91%	—

Volatility

Volatility by Period

	TTDAX	QLEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.18%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.57%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	7.24%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	10.10%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	10.58%	—

TTDAX vs. QLEIX - Expense Ratio Comparison

TTDAX has a 1.25% expense ratio, which is lower than QLEIX's 1.30% expense ratio.

Dividends

TTDAX vs. QLEIX - Dividend Comparison

TTDAX's dividend yield for the trailing twelve months is around 2.20%, more than QLEIX's 1.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QLEIX AQR Long-Short Equity Fund	1.75%	1.75%	7.12%	20.88%	14.15%	0.00%	1.57%	0.00%	6.03%	9.11%	3.01%	4.98%
TTDAX Toews Tactical Defensive Alpha Fund	2.20%	2.07%	3.30%	2.56%	1.03%	26.63%	4.08%	7.49%	1.35%	13.58%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TTDAX and QLEIX in my portfolio?

TTDAX and QLEIX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.