AQR Core Plus Bond Fund

QCPNX
  • daily nav $10.16
  • change $0.03
  • daily return 0.30%
  • inception date 4/5/2018
  • AUM $69MM

As of June 18, 2021

  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
Through the systematic application of time-tested investment ideas, the Fund aims to generate excess returns from security selection across countries, maturities, credit and currencies.
Enhanced Portfolio Diversification
The Fund is designed to move independently from other asset classes such as equities, as well as traditional fixed income. It seeks to provide potential diversifying returns from the quality and breadth of holdings rather than from exposure to riskier assets.
Disciplined Risk-Managed Process
Unlike traditional approaches, the Fund does not take on additional credit or duration risk to achieve its return objectives. Rather, it seeks to maintain a targeted level of risk, more consistent with the benchmark over the long term.
  Portfolio Characteristics

Portfolio Statistics

As of May 31, 2021

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30 Day With Subsidy 0.64
30 Day Without Subsidy 0.38
Yield to Maturity (%) 2.17
Duration (years) 6.96
  Performance

Annualized Total Returns

As of May 31, 2021

MTD YTD 1YR 3YR Since Inception 4/5/2018 Gross Expense Ratio Net Expense Ratio*
AQR Core Plus Bond Fund 0.49% -2.79% -1.04% 4.36% 4.04% 0.88% 0.74%
Bloomberg Barclays US Aggregate Total Return Value Unhedged USD 0.33% -2.29% -0.40% 5.06% -
AQR Core Plus Bond Fund Bloomberg Barclays US Aggregate Total Return Value Unhedged USD
MTD 0.49% 0.33%
YTD -2.79% -2.29%
1YR -1.04% -0.40%
3YR 4.36% 5.06%
Since Inception 4/5/2018 4.04% 4.90%
Gross Expense Ratio 0.88%
Net Expense Ratio* 0.74%

As of March 31, 2021

QTD YTD 1YR Since Inception 4/5/2018 Gross Expense Ratio Net Expense Ratio*
AQR Core Plus Bond Fund -4.30% -4.30% -0.42% 3.72% 0.88% 0.74%
Bloomberg Barclays US Aggregate Total Return Value Unhedged USD -3.37% -3.37% 0.71% -
AQR Core Plus Bond Fund Bloomberg Barclays US Aggregate Total Return Value Unhedged USD
QTD -4.30% -3.37%
YTD -4.30% -3.37%
1YR -0.42% 0.71%
Since Inception 4/5/2018 3.72% 4.79%
Gross Expense Ratio 0.88%
Net Expense Ratio* 0.74%

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 0.01224
05/29/2018 05/30/2018 0.01712
06/27/2018 06/28/2018 0.01883
07/27/2018 07/30/2018 0.01851
08/29/2018 08/30/2018 0.01937
09/26/2018 09/27/2018 0.02178
10/29/2018 10/30/2018 0.02701
11/28/2018 11/29/2018 0.02605
12/27/2018 12/28/2018 0.14968
01/29/2019 01/30/2019 0.01787
02/26/2019 02/27/2019 0.01611
03/27/2019 03/28/2019 0.01804
04/26/2019 04/29/2019 0.01524
05/29/2019 05/30/2019 0.01703
06/26/2019 06/27/2019 0.01598
07/29/2019 07/30/2019 0.01575
08/28/2019 08/29/2019 0.01288
09/26/2019 09/27/2019 0.01262
10/29/2019 10/30/2019 0.01307
11/26/2019 11/27/2019 0.01225
12/27/2019 12/30/2019 0.03780
01/29/2020 01/30/2020 0.01215
02/26/2020 02/27/2020 0.01206
03/27/2020 03/30/2020 0.01096
04/28/2020 04/29/2020 0.00775
05/27/2020 05/28/2020 0.00527
06/26/2020 06/29/2020 0.00611
07/29/2020 07/30/2020 0.00685
08/27/2020 08/28/2020 0.00781
09/28/2020 09/29/2020 0.01212
10/28/2020 10/29/2020 0.00745
11/23/2020 11/24/2020 0.00617
12/29/2020 12/30/2020 0.06245
01/27/2021 01/28/2021 0.00605
02/24/2021 02/25/2021 0.00721
03/29/2021 03/30/2021 0.00808
04/28/2021 04/29/2021 0.00833
05/26/2021 05/27/2021 0.00937
06/28/2021 06/29/2021
07/28/2021 07/29/2021
08/27/2021 08/30/2021
09/28/2021 09/29/2021
10/27/2021 10/28/2021
11/22/2021 11/23/2021
12/28/2021 12/29/2021
  Managers

Ronen Israel

Principal

  • 25 years of experience
  • 21 years at AQR

M.A., Columbia University

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

Jordan Brooks

Principal

  • 12 years of experience
  • 12 years at AQR

Ph.D., M.A., New York University

B.A., Boston College

Scott Richardson

Principal

  • 15 years of experience
  • 7 years at AQR

Ph.D., University of Michigan

B.Ec., University of Sydney

  Fees & Minimums

Investment Minimums

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Individual Investors $1 Million
Accounts Offered by Financial Advisors None
Institutional Investors 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 0.25%
Other Expenses  
     Dividends On Short Sales and/or Interest Expense 0.01%
     All Other Expenses 0.29%
Acquired Fund Fees 0.01%
Gross Expenses 0.88%
Less: Fee Waivers and/or Expense Reimbursements 0.14%
Net Expenses* 0.74%
Fund Adjusted Expense Ratio
Adjusted Expense Ratio** 0.73%
  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.

Investment in any of the funds described on this website carries substantial risk, including the possible loss of principal. There is no guarantee that the investment objectives of the funds will be achieved and returns may vary significantly over time. Investment in the funds described on this website is not suitable for all investors. Not all funds or share classes are available to all investors.

Fund offering documents contain risk warnings that are specific to each fund. Investors should only invest in a fund once they have thoroughly reviewed the prospectus and Key Investor Information Document (“KIID”) for the fund and carefully considered the relevant investment objectives, risks, charges and fees. Investors may wish to consult an independent financial advisor for personal and specific investment advice before investing.

Umbrella Fund:
The Fund is a sub-fund of AQR UCITS Funds, a Luxembourg based UCITS of which the management company is FundRock Management Company S.A.

The information contained on this website is for informational purposes only and does not constitute an offer or invitation to buy, sell or otherwise transact in any security. The information on this site is directed only at persons or entities in any jurisdiction or country where such access to information contained on this website and use of such information is not contrary to local law or regulation. Accordingly, all persons who access this website are required to inform themselves of and to comply with any such restrictions. The prospectus, KIID and the latest periodic reports for each fund are available free of charge.

Past performance does not guarantee future results.

AQR Capital Management (Europe) LLP, a U.K. limited liability partnership, is authorized by the U.K. Financial Conduct Authority (“FCA”) for advising on investments (except on Pension Transfers and Pension Opt Outs), arranging (bringing about) deals in investments, dealing in investments as agent, managing a UCITS, managing an unauthorized AIF and managing investments. This material has been approved to satisfy UK FCA COBS 4.

The use of derivatives, forward and futures contracts, and commodities exposes the Fund to additional risks including increased volatility, lack of liquidity, insolvency and possible losses greater than the Fund’s initial investment as well as increased transaction costs. Commodity prices react, among other things, to economic factors such as changing supply and demand relationships, weather conditions and other natural events, all of which may affect your investment.

The Fund is exposed to the currency markets which may be highly volatile. Large price swings can occur in such markets within very short periods and may result in your investment suffering a loss.

The Fund may be exposed to liquidity risk where, due to a lack of marketability, the Fund’s investments cannot be bought or sold quickly enough to prevent or minimize a loss.

The Fund is exposed to concentration risk as it may have increased exposure to a particular asset, reference rate or index. A fall in value of the asset, reference rate or index can result in a greater loss to the Fund which may be more than the amount borrowed or invested.

Your investment in the Fund is not guaranteed and is at risk. You may lose some or all of your investment.

The Fund relies upon the performance of the investment manager of the Fund. If the investment manager performs poorly the value of your investment is likely to be adversely affected.

More information in relation to risks in general may be found in the “Risk Factors” section of the prospectus.