WTLS vs. QLENX

Last updated Jun 25, 2026

WTLS (WisdomTree Efficient Long/Short US Equity Fund) and QLENX (AQR Long-Short Equity Fund Class N) are both Long-Short funds. Both are actively managed. At a 0.41 correlation, their price movements are largely independent. WTLS charges 0.88%/yr vs 1.57%/yr for QLENX.

Performance

WTLS vs. QLENX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Efficient Long/Short US Equity Fund (WTLS) and AQR Long-Short Equity Fund Class N (QLENX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

WTLS

• 1D: -0.79%
• 1M: 0.15%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QLENX

• 1D: -1.27%
• 1M: -0.15%
• YTD: -1.90%
• 6M: -2.23%
• 1Y: 13.04%
• 3Y*: 24.93%
• 5Y*: 22.69%
• 10Y*: 11.83%

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

WTLS vs. QLENX - Yearly Performance Comparison

	2026 (YTD)
WTLS WisdomTree Efficient Long/Short US Equity Fund	15.37%
QLENX AQR Long-Short Equity Fund Class N	1.31%

Correlation

The correlation between WTLS and QLENX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026	0.41

Return for Risk

WTLS vs. QLENX — Risk / Return Rank

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

WTLS

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

QLENX

QLENX Risk / Return Rank: 42
QLENX Sharpe Ratio Rank: 45
QLENX Sortino Ratio Rank: 47
QLENX Omega Ratio Rank: 44
QLENX Calmar Ratio Rank: 39
QLENX Martin Ratio Rank: 33

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.

WTLS vs. QLENX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Efficient Long/Short US Equity Fund (WTLS) and AQR Long-Short Equity Fund Class N (QLENX). 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.

	WTLS	QLENX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.84	—
Sortino ratio: Return per unit of downside risk	—	2.66	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	2.26	—
Martin ratio: Return relative to average drawdown	—	6.95	—

Drawdowns

WTLS vs. QLENX - Drawdown Comparison

The maximum WTLS drawdown since its inception was -8.94%, smaller than the maximum QLENX drawdown of -38.50%. Use the drawdown chart below to compare losses from any high point for WTLS and QLENX.

Drawdown Indicators

	WTLS	QLENX	Difference
Max Drawdown Largest peak-to-trough decline	-8.94%	-38.50%	+29.56%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.09%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-7.09%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.19%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.50%	—
Current Drawdown Current decline from peak	-4.12%	-2.51%	-1.61%
Average Drawdown Average peak-to-trough decline	-2.05%	-7.46%	+5.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.98%	—

Volatility

Volatility by Period

	WTLS	QLENX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.90%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.31%	7.51%	+11.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.31%	10.03%	+9.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.31%	10.56%	+8.75%

WTLS vs. QLENX - Expense Ratio Comparison

WTLS has a 0.88% expense ratio, which is lower than QLENX's 1.57% expense ratio.

Dividends

WTLS vs. QLENX - Dividend Comparison

WTLS has not paid dividends to shareholders, while QLENX's dividend yield for the trailing twelve months is around 1.67%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QLENX AQR Long-Short Equity Fund Class N	1.67%	1.64%	7.13%	21.21%	14.09%	0.00%	1.59%	0.00%	6.09%	8.91%	2.87%	4.91%
WTLS WisdomTree Efficient Long/Short US Equity Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WTLS and QLENX in my portfolio?

WTLS and QLENX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.