AQR Core Plus Bond Fund

QCPIX
  • daily nav $10.43
  • change $-0.03
  • daily return -0.29%
  • inception date 4/5/2018
  • AUM $117MM

As of December 06, 2019

  About the Fund

Investment Objective

Seeks total return.

A Systematic Approach to Fixed Income

The goal of the Fund is to provide investors with a broad set of return sources through a consistent and repeatable process across tested investment themes. 

Investment Approach

We aim to generate consistent outperformance by systematically applying investment themes across securities.  The fund seeks excess returns through country, maturity, credit, and currency selection. Out of benchmark sectors are strictly used to increase security selection breadth, while still targeting the credit and duration profile of the benchmark, and so does not seek to engage in duration timing or sector selection.  

Why Invest in the Core Plus Bond Fund?

Return Potential
The Fund seeks to consistently outperform the benchmark by systematically implementing fundamental drivers of fixed income returns such as Value, Momentum, Carry, and Defensive themes.
Overall Portfolio Diversification Potential
The Fund seeks excess returns that are uncorrelated to fixed income markets, other fixed income managers, as well as equity markets.
Risk-Managed Process
Unlike traditional approaches, this Fund does not take on additional credit or duration risk to achieve its return objectives. Rather, it seeks to maintain a risk level consistent with the benchmark.
  Portfolio Characteristics

Portfolio Statistics

As of October 31, 2019

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30-Day SEC Yield with Subsidy (%) 1.48
30-Day SEC Yield without Subsidy (%) 1.31
Yield to Maturity (%) 2.54
Duration (years) 6.52
  Performance

Annualized Total Returns

As of November 30, 2019

MTD YTD 1YR Since Inception 4/5/2018 Gross Expense Ratio Net Expense Ratio*
AQR Core Plus Bond Fund 0.04% 9.51% 10.65% 5.88% 0.61% 0.48%
Bloomberg Barclays US Aggregate Total Return Value Unhedged USD -0.05% 8.79% 10.79% 6.39%
AQR Core Plus Bond Fund Bloomberg Barclays US Aggregate Total Return Value Unhedged USD
QTD 0.04 % -0.05 %
YTD 9.51 % 8.79 %
1YR 10.65 % 10.79 %
Since Inception 4/5/2018 5.88 % 6.39 %
Gross Expense Ratio 0.61%
Net Expense Ratio* 0.48%

As of September 30, 2019

QTD YTD 1YR Since Inception 4/5/2018 Gross Expense Ratio Net Expense Ratio*
AQR Core Plus Bond Fund 1.93% 8.89% 9.31% 6.15% 0.61% 0.48%
Bloomberg Barclays US Aggregate Total Return Value Unhedged USD 2.27% 8.52% 10.30% 6.96%
AQR Core Plus Bond Fund Bloomberg Barclays US Aggregate Total Return Value Unhedged USD
QTD 1.93 % 2.27 %
YTD 8.89 % 8.52 %
1YR 9.31 % 10.30 %
Since Inception 4/5/2018 6.15 % 6.96 %
Gross Expense Ratio 0.61%
Net Expense Ratio* 0.48%

Distributions

Distributions made by this fund during the year selected above
Record Date Ex Date Income ST Cap Gains Return of Capital LT Cap Gains
04/26/2018 04/27/2018 0.01380
05/29/2018 05/30/2018 0.01887
06/27/2018 06/28/2018 0.02049
07/27/2018 07/30/2018 0.01994
08/29/2018 08/30/2018 0.02109
09/26/2018 09/27/2018 0.02344
10/29/2018 10/30/2018 0.02869
11/28/2018 11/29/2018 0.02763
12/27/2018 12/28/2018 0.15156
01/29/2019 01/30/2019 0.01950
02/26/2019 02/27/2019 0.01757
03/27/2019 03/28/2019 0.01964
04/26/2019 04/29/2019 0.01684
05/29/2019 05/30/2019 0.01806
06/26/2019 06/27/2019 0.01793
07/29/2019 07/30/2019 0.01784
08/28/2019 08/29/2019 0.01499
09/26/2019 09/27/2019 0.01504
10/29/2019 10/30/2019 0.01521
11/26/2019 11/27/2019 0.01439
12/27/2019 12/30/2019
  Managers

Jordan Brooks

Principal

  • 11 years of experience
  • 11 years at AQR

New York University

Boston College

Ronen Israel

Principal

  • 23 years of experience
  • 20 years at AQR

M.A., Columbia University

B.S., B.A.S., University of Pennsylvania

Scott Richardson

Principal

  • 13 years of experience
  • 5 years at AQR

Ph.D., University of Michigan

B.Ec., University of Sydney

  Fees & Minimums

Investment Minimums

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Individual Investors $5 Million
Institutional Investors None
Accounts Offered by Financial Advisors None

Shareholder Fees

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Sales Load None
Deferred Sales Load None
Redemption Fees None

Annual Fund Operating Expenses

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Management Fee 0.32%
Distribution (12b-1) Fee None
Other Expenses  
     Dividends On Short Sales None
     All Other Expenses 0.28%
Acquired Fund Fees 0.01%
Gross Expenses 0.61%
Less: Fee Waivers and/or Expense Reimbursements 0.13%
Net Expenses* 0.48%
  Documents

Fund Literature

Fund Reporting

An investment in any of the AQR Funds involves risk, including loss of principal. The value of the Funds’ portfolio holdings may fluctuate in response to events specific to the companies in which the Fund invests, as well as economic, political or social events in the United States or abroad. Please refer to the prospectus for complete information regarding all risks associated with the Funds. An investor considering the Funds should be able to tolerate potentially wide price fluctuations. The Funds are subject to high portfolio turnover risk as a result of frequent trading, and thus, will incur a higher level of brokerage fees and commissions, and cause a higher level of tax liability to shareholders in the Funds. The Funds may attempt to increase its income or total return through the use of securities lending, and they may be subject to the possibility of additional loss as a result of this investment technique.

Information about how each Fund voted proxies relating to portfolio securities held during the most recent 12-month period ended June 30 will be available no later than August 31. Please click here to view the most recent Form N-PX for the AQR Funds.

PRINCIPAL RISKS:
Past performance is no guarantee of future results. An investment in the Funds involves risk, including loss of principal. The Fund is not suitable for all investors. The Fund is new and has a limited operating history. 

Diversification does not eliminate the risk of losses.

An investment in the Fund is subject to risks, including the possibility that the value of the Fund’s portfolio holdings may fluctuate in response to events specific to the companies in which the Fund invests, as well as economic, political or social events in the United States or abroad. Please refer to the prospectus for complete information regarding all risks associated with the Fund.
The use of derivatives, forward and futures contracts, and commodities exposes the Fund to additional risks including increased volatility, lack of liquidity, and possible losses greater than the Fund's initial investment as well as increased transaction costs.

An investor considering the funds should be able to tolerate potentially wide price fluctuations. The Fund is subject to high portfolio turnover risk as a result of frequent trading, and thus will incur a higher level of brokerage fees and commissions, and may cause a higher level of tax liability to shareholders in the Fund. Since the Fund may also attempt to increase its income or total return through the use of securities lending, it may be subject to the possibility of additional loss as a result of this investment technique.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds before investing. To obtain a prospectus containing this and other important information, please call 1-866-290-2688 or click here to view or download a prospectus online. Read the prospectus carefully before you invest.

 

Performance data quoted represent past performance. Past performance does not guarantee future results and current performance may be lower or higher than the data quoted. All returns shown are total returns that assume reinvestment of dividends and capital gains. Returns for periods under a year are cumulative, all others are average annual returns. Investment returns and principal will fluctuate with market and economic conditions and you may have a gain or loss when you sell shares. From time to time the Fund’s advisor may waive fees or reimbursed expenses, without which performance would have been lower. Please call 866-290-2688 for most recent month-end performance.

Performance shown prior to a share class’s inception date reflects the historical performance of the Fund’s Class I shares, calculated using the fees and expenses of the Class N or Class R6 shares, respectively.

© AQR Funds are distributed by ALPS Distributors, Inc. AQR Capital Management, LLC is the Investment Manager of the Funds and a federally registered investment adviser. ALPS Distributors is not affiliated with AQR Capital Management. 

Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds before investing. To obtain a prospectus containing this and other important information, please call 1-866-290-2688 or click here to view or download a prospectus online. Read the prospectus carefully before you invest. 

View definitions of benchmarks and other terms used here.

Diversification does not eliminate risk. Indexes are unmanaged and one cannot invest directly in an index.

The Adviser has contractually agreed to reimburse operating expenses of the Funds at least through January 28, 2020 for, Large Cap Defensive Style Fund, International Defensive Style Fund, Emerging Defensive Style Fund, Large Cap Momentum Style Fund, Small Cap Momentum Style Fund, International Momentum Style Fund, TM Large Cap Momentum Style Fund, TM Small Cap Momentum Style Fund, TM International Momentum Style Fund, Large Cap Multi-Style Fund, Small Cap Multi-Style Fund, International Multi-Style Fund, Emerging Multi-Style Fund, TM Large Cap Multi-Style Fund, TM Small Cap Multi-Style Fund, TM International Multi-Style Fund, TM Emerging Multi-Style Fund, Large Cap Relaxed Constraint Equity Fund, International Relaxed Constraint Equity Fund, Emerging Relaxed Constraint Equity Fund, Global Equity Fund, International Equity Fund, Core Plus Bond Fund and April 30, 2020 for Diversified Arbitrage Fund, Equity Market Neutral Fund, Global Macro Fund,  Long/Short Equity Fund, Managed Futures Strategy Fund, Managed Futures Strategy HV Fund, Multi-Strategy Alternative Fund, Risk-Balanced Commodities Strategy Fund, Style Premia Alternative Fund, Style Premia Alternative LV Fund, Volatility Risk, Premium Fund, Multi-Asset Fund, Risk Parity II HV Fund, Risk Parity II MV Fund. For additional details on annual fund operating expenses for each Fund, please see the underlying Funds’ prospectus.

The information provided herein (including any separate documents that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information about our products and services and to otherwise provide general investment education. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action as none of AQR Capital Management, LLC (“AQR Capital”) nor any of its affiliates is undertaking to provide investment advice, act as an adviser to any plan or entity subject to the Employee Retirement Income Security Act of 1974, as amended, individual retirement account or individual retirement annuity, or give advice in a fiduciary capacity with respect to the materials presented herein. If you are an individual retirement investor, contact your financial advisor or other fiduciary unrelated to AQR about whether any given investment idea, strategy, product or service described herein may be appropriate for your circumstances.

There are risks involved with investing including the possible loss of principal.
Past performance does not guarantee future results.
©2019 AQR Funds. All rights reserved.