VEIRX vs. QLEIX
VEIRX (Vanguard Equity Income Fund Admiral Shares) and QLEIX (AQR Long-Short Equity Fund) are both mutual funds - VEIRX is a Large Cap Value Equities fund actively managed by Vanguard, while QLEIX is a Long-Short fund actively managed by AQR Funds. Both are actively managed. Over the past 10 years, VEIRX returned 11.82%/yr vs 12.00%/yr for QLEIX. A 0.54 correlation means they provide meaningful diversification when combined. VEIRX charges 0.19%/yr vs 1.30%/yr for QLEIX.
Performance
VEIRX vs. QLEIX - Performance Comparison
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Returns By Period
In the year-to-date period, VEIRX achieves a 8.36% return, which is significantly higher than QLEIX's -0.71% return. Both investments have delivered pretty close results over the past 10 years, with VEIRX having a 11.82% annualized return and QLEIX not far ahead at 12.00%.
VEIRX
- 1D
- 0.15%
- 1M
- -0.23%
- YTD
- 8.36%
- 6M
- 7.92%
- 1Y
- 21.49%
- 3Y*
- 16.06%
- 5Y*
- 11.82%
- 10Y*
- 11.82%
QLEIX
- 1D
- -0.28%
- 1M
- 0.96%
- YTD
- -0.71%
- 6M
- -1.18%
- 1Y
- 15.59%
- 3Y*
- 25.93%
- 5Y*
- 23.53%
- 10Y*
- 12.00%
VEIRX vs. QLEIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEIRX Vanguard Equity Income Fund Admiral Shares | 8.36% | 17.25% | 14.91% | 7.76% | -0.08% | 25.49% | 3.08% | 25.34% | -5.68% | 17.68% |
QLEIX AQR Long-Short Equity Fund | -0.71% | 34.43% | 30.50% | 23.95% | 19.18% | 31.10% | -13.92% | 1.19% | -16.33% | 15.74% |
Correlation
The correlation between VEIRX and QLEIX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014 | 0.54 |
Over the past year, the correlation between VEIRX and QLEIX has dropped to 0.30 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.
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Return for Risk
VEIRX vs. QLEIX — Risk / Return Rank
VEIRX
QLEIX
VEIRX vs. QLEIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Equity Income Fund Admiral Shares (VEIRX) 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.
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.
| VEIRX | QLEIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.38 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.04 | 2.53 | +0.51 |
| Martin ratioReturn relative to average drawdown | 11.30 | 7.87 | +3.43 |
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Drawdowns
VEIRX vs. QLEIX - Drawdown Comparison
The maximum VEIRX drawdown since its inception was -54.02%, which is greater than QLEIX's maximum drawdown of -38.11%. Use the drawdown chart below to compare losses from any high point for VEIRX and QLEIX.
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Drawdown Indicators
| VEIRX | QLEIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.02% | -38.11% | -15.91% |
Max Drawdown (1Y)Largest decline over 1 year | -7.13% | -6.01% | -1.12% |
Max Drawdown (3Y)Largest decline over 3 years | -13.36% | -7.07% | -6.29% |
Max Drawdown (5Y)Largest decline over 5 years | -15.12% | -17.07% | +1.95% |
Max Drawdown (10Y)Largest decline over 10 years | -35.26% | -38.11% | +2.85% |
Current DrawdownCurrent decline from peak | -1.25% | -1.32% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -6.49% | -7.70% | +1.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 1.93% | -0.01% |
Volatility
VEIRX vs. QLEIX - Volatility Comparison
Vanguard Equity Income Fund Admiral Shares (VEIRX) and AQR Long-Short Equity Fund (QLEIX) have volatilities of 2.84% and 2.82%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEIRX | QLEIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.84% | 2.82% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 7.60% | 5.76% | +1.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.37% | 7.37% | +3.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.91% | 10.02% | +3.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.31% | 10.59% | +5.72% |
VEIRX vs. QLEIX - Expense Ratio Comparison
VEIRX has a 0.19% expense ratio, which is lower than QLEIX's 1.30% expense ratio.
Dividends
VEIRX vs. QLEIX - Dividend Comparison
VEIRX's dividend yield for the trailing twelve months is around 10.24%, more than QLEIX's 1.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QLEIX AQR Long-Short Equity Fund | 1.76% | 1.75% | 7.12% | 20.88% | 14.15% | 0.00% | 1.57% | 0.00% | 6.03% | 9.11% | 3.01% | 4.98% |
VEIRX Vanguard Equity Income Fund Admiral Shares | 10.24% | 11.03% | 9.83% | 7.96% | 8.79% | 7.71% | 2.86% | 4.45% | 10.98% | 3.04% | 3.87% | 6.48% |
Frequently Asked Questions
VEIRX and QLEIX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VEIRX has higher volatility (2.84%) compared to QLEIX (2.82%). In terms of maximum drawdown, VEIRX dropped -54.02% vs QLEIX's -38.11%.
VEIRX currently has the higher Sharpe Ratio (2.09 vs 2.06), 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.
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