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XSXG.L vs. QLEIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XSXG.L vs. QLEIX

Last updated Jun 4, 2026

XSXG.L (Xtrackers S&P 500 Swap UCITS ETF 1D) and QLEIX (AQR Long-Short Equity Fund) are both funds - XSXG.L is a S&P 500 fund tracking the S&P 500 Index, while QLEIX is a Long-Short fund managed by AQR Funds. Over the past 3 years, XSXG.L returned 19.51%/yr vs 24.45%/yr for QLEIX. At a 0.29 correlation, their price movements are largely independent. XSXG.L charges 0.07%/yr vs 1.30%/yr for QLEIX.

Performance

XSXG.L vs. QLEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers S&P 500 Swap UCITS ETF 1D (XSXG.L) and AQR Long-Short Equity Fund (QLEIX). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XSXG.L is traded in GBP, while QLEIX is traded in USD. To make them comparable, the QLEIX values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, XSXG.L achieves a 10.62% return, which is significantly higher than QLEIX's 0.48% return.

XSXG.L

1D
-0.22%
1M
6.01%
YTD
10.62%
6M
10.62%
1Y
29.30%
3Y*
19.51%
5Y*
—
10Y*
—

QLEIX

1D
-0.25%
1M
4.07%
YTD
0.48%
6M
3.96%
1Y
16.54%
3Y*
24.45%
5Y*
23.08%
10Y*
12.87%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XSXG.L vs. QLEIX - Yearly Performance Comparison

2026 (YTD)2025202420232022
XSXG.L
Xtrackers S&P 500 Swap UCITS ETF 1D		10.62%9.55%27.53%20.03%2.67%
QLEIX
AQR Long-Short Equity Fund		0.48%24.85%32.78%17.75%0.31%

Correlation

The correlation between XSXG.L and QLEIX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.36

Correlation (3Y)
Calculated over the trailing 3-year period

0.35

Correlation (All Time)
Calculated using the full available price history since Jun 16, 2022

0.29

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Xtrackers S&P 500 Swap UCITS ETF 1D

AQR Long-Short Equity Fund

Often compared with XSXG.L:
XSXG.L vs. ZPA5.DEXSXG.L vs. SUSW.LXSXG.L vs. XMMOXSXG.L vs. QQQXSXG.L vs. SPMD.LXSXG.L vs. IISU.LXSXG.L vs. EXUS.L
Often compared with QLEIX:
QLEIX vs. QLENXQLEIX vs. SPYQLEIX vs. VOOQLEIX vs. WFIVXQLEIX vs. QQQQLEIX vs. BIVRXQLEIX vs. PRPFX

Return for Risk

XSXG.L vs. QLEIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XSXG.L
XSXG.L Risk / Return Rank: 8282
Overall Rank
XSXG.L Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
XSXG.L Sortino Ratio Rank: 8383
Sortino Ratio Rank
XSXG.L Omega Ratio Rank: 8585
Omega Ratio Rank
XSXG.L Calmar Ratio Rank: 7979
Calmar Ratio Rank
XSXG.L Martin Ratio Rank: 7676
Martin Ratio Rank
QLEIX
QLEIX Risk / Return Rank: 5353
Overall Rank
QLEIX Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
QLEIX Sortino Ratio Rank: 6363
Sortino Ratio Rank
QLEIX Omega Ratio Rank: 5656
Omega Ratio Rank
QLEIX Calmar Ratio Rank: 5050
Calmar Ratio Rank
QLEIX Martin Ratio Rank: 3939
Martin Ratio Rank
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.

XSXG.L vs. QLEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P 500 Swap UCITS ETF 1D (XSXG.L) 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.

XSXG.LQLEIXDifference
Sharpe ratioReturn per unit of total volatility
2.77
1.85

+0.93

Sortino ratioReturn per unit of downside risk
3.70
2.58

+1.12

Omega ratioGain probability vs. loss probability

1.52

1.31

+0.21

Calmar ratioReturn relative to maximum drawdown

4.01

2.58

+1.43

Martin ratioReturn relative to average drawdown

14.46

7.78

+6.69

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSXG.L vs. QLEIX - Sharpe Ratio Comparison

The current XSXG.L Sharpe Ratio is 2.77, which is higher than the QLEIX Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of XSXG.L and QLEIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

XSXG.LQLEIXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.77

1.85

+0.93

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.96

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.02

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.27

1.08

+0.18

Drawdowns

XSXG.L vs. QLEIX - Drawdown Comparison

The maximum XSXG.L drawdown since its inception was -21.10%, smaller than the maximum QLEIX drawdown of -30.98%. Use the drawdown chart below to compare losses from any high point for XSXG.L and QLEIX.

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Drawdown Indicators

XSXG.LQLEIXDifference

Max Drawdown

Largest peak-to-trough decline

-21.10%

-30.98%

+9.88%

Max Drawdown (1Y)

Largest decline over 1 year

-7.27%

-6.58%

-0.69%

Max Drawdown (3Y)

Largest decline over 3 years

-21.10%

-7.84%

-13.26%

Max Drawdown (5Y)

Largest decline over 5 years

—

-12.69%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-30.98%

—

Current Drawdown

Current decline from peak

-0.22%

-0.53%

+0.31%

Average Drawdown

Average peak-to-trough decline

-3.44%

-7.04%

+3.60%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.02%

2.17%

-0.15%

Volatility

XSXG.L vs. QLEIX - Volatility Comparison

Xtrackers S&P 500 Swap UCITS ETF 1D (XSXG.L) and AQR Long-Short Equity Fund (QLEIX) have volatilities of 2.61% and 2.64%, 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

XSXG.LQLEIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.61%

2.64%

-0.03%

Volatility (6M)

Calculated over the trailing 6-month period

7.18%

7.00%

+0.18%

Volatility (1Y)

Calculated over the trailing 1-year period

10.58%

9.17%

+1.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.91%

11.87%

+2.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.91%

12.62%

+1.29%

XSXG.L vs. QLEIX - Expense Ratio Comparison

XSXG.L has a 0.07% expense ratio, which is lower than QLEIX's 1.30% expense ratio.

Dividends

XSXG.L vs. QLEIX - Dividend Comparison

XSXG.L's dividend yield for the trailing twelve months is around 0.82%, less than QLEIX's 1.75% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XSXG.L
Xtrackers S&P 500 Swap UCITS ETF 1D		0.82%0.92%1.11%1.30%0.38%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XSXG.L and QLEIX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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