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Style Premia Alternative Fund
| NAV | Change | Daily Return |
|---|---|---|
| NAV | Change | Daily Return |
| $8.63 | -$0.01 | -0.12% |
As of: 10/18/2019
-
We invest long and short across six different asset groups: stocks of major developed markets, country indices, bond futures, interest rate futures, currencies and commodities. We employ market-neutral, long-short strategies across these asset groups based on four investment styles:
Value — the tendency for relatively cheap assets to outperform relatively expensive ones
Momentum — the tendency for an asset’s recent relative performance to continue in the future
Carry — the tendency for higher-yielding assets to provide higher returns than lower-yielding assets
Defensive — the tendency for lower-risk and higher-quality assets to generate higher risk-adjusted returns
Each of these styles have historically had low correlations to one another, so we expect them to be profitable at different times for different reasons. Thus, a portfolio combining all four of them seeks to benefit from their expected low correlations to one another and could help provide a more robust, dependable stream of returns.
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Monthly
Month YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio AQR Funds - AQR Style Premia Alternative Fund 2.26% -4.66% -10.11% -1.41% 1.70% 2.75% 10/31/2013 2.32% 2.32% ICE BofAML US 3M T-Bill 0.18% 1.81% 2.39% 1.54% 0.98% 0.84% - - - -
Quarterly
Quarter YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio AQR Funds - AQR Style Premia Alternative Fund 0.58% -4.66% -10.11% -1.41% 1.70% 2.75% 10/31/2013 2.32% 2.32% ICE BofAML US 3M T-Bill 0.57% 1.81% 2.39% 1.54% 0.98% 0.84% - - -
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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.
-
The Gross Expense Ratio includes all categories of expenses before any expense reductions or fee waivers.
-
The Net Expense Ratio per the Fund’s latest Prospectus. For the Diversified Arbitrage Fund and the Multi-Strategy Alternative Fund, the Net Expense Ratio includes expenses related to short sales and interest on any borrowings.
-
The Merrill Lynch 3 Month Treasury Bill Index is designed to measure the performance of high-quality short-term cash-equivalent investments. Indexes are unmanaged and one cannot invest directly in an index.
-
-
As of: 6/30/2019
Portfolio Statistics
# of short holdings 764 # of long holdings 770 Asset Class Exposure
% of Risk Allocation Stocks & Industries 38.2% Equity Indices 17.5% Commodities 16.0% Fixed Income 15.7% Currencies 12.6%
-
All Fund Statistics are subject to change. Portfolio holdings are subject to change and should not be considered a recommendation to buy or sell securities.
-
Risk allocation is calculated as the relative weight of the expected volatilities for each asset class or strategy, with a sum equal to 100%. AQR calculates expected volatilities for each strategy using proprietary risk models to predict volatilities and correlations across all assets in the portfolio.
-
-
-
Investment Minimums
Individual Investors $5 Million Institutional Investors None Fee-based Accounts Offered By Financial Advisors None -
Shareholder Fees
Sales Load None Deferred Sales Load None Redemption Fees None
-
Annual Fund Operating Expenses
Management Fee 1.35 % Distribution (12b-1) Fee None Acquired Fund Fees 0.07 % Other Expenses Dividends On Short Sales and/or Interest Expense 0.77 % All Other Expenses 0.13 % Gross Expenses 2.32 % Less: Fee Waivers 0.00 % Net Expenses 2.32 %
-
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.
-
The Gross Expense Ratio includes all categories of expenses before any expense reductions or fee waivers.
-
The Net Expense Ratio per the Fund’s latest Prospectus. For the Diversified Arbitrage Fund and the Multi-Strategy Alternative Fund, the Net Expense Ratio includes expenses related to short sales and interest on any borrowings.
-
-
-
Andrea Frazzini
Principal
- 14 years of experience
- 11 years at AQR
- Ph.D., Yale University
- M.S., London School of Economics
- B.S., University of Rome III
-
Jacques A. Friedman
Principal
- 23 years of experience
- 21 years at AQR
- M.S., University of Washington
- B.S., Brown University
-
Ronen Israel
Principal
- 24 years of experience
- 20 years at AQR
- M.A., Columbia University
- B.S., B.A.S., University of Pennsylvania
-
Michael Katz
Principal
- 12 years of experience
- 12 years at AQR
- Ph.D., A.M., Harvard University
- B.A., Tel Aviv University
-
| NAV | Change | Daily Return |
|---|---|---|
| NAV | Change | Daily Return |
| $8.60 | -$0.01 | -0.12% |
As of: 10/18/2019
-
We invest long and short across six different asset groups: stocks of major developed markets, country indices, bond futures, interest rate futures, currencies and commodities. We employ market-neutral, long-short strategies across these asset groups based on four investment styles:
Value — the tendency for relatively cheap assets to outperform relatively expensive ones
Momentum — the tendency for an asset’s recent relative performance to continue in the future
Carry — the tendency for higher-yielding assets to provide higher returns than lower-yielding assets
Defensive — the tendency for lower-risk and higher-quality assets to generate higher risk-adjusted returns
Each of these styles have historically had low correlations to one another, so we expect them to be profitable at different times for different reasons. Thus, a portfolio combining all four of them seeks to benefit from their expected low correlations to one another and could help provide a more robust, dependable stream of returns. -
-
Monthly
Month YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio AQR Funds - AQR Style Premia Alternative Fund 2.27% -4.78% -10.37% -1.68% 1.44% 2.49% 10/31/2013 2.58% 2.58% ICE BofAML US 3M T-Bill 0.18% 1.81% 2.39% 1.54% 0.98% 0.84% - - - -
Quarterly
Quarter YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio AQR Funds - AQR Style Premia Alternative Fund 0.59% -4.78% -10.37% -1.68% 1.44% 2.49% 10/31/2013 2.58% 2.58% ICE BofAML US 3M T-Bill 0.57% 1.81% 2.39% 1.54% 0.98% 0.84% - - -
-
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.
-
The Gross Expense Ratio includes all categories of expenses before any expense reductions or fee waivers.
-
The Net Expense Ratio per the Fund’s latest Prospectus. For the Diversified Arbitrage Fund and the Multi-Strategy Alternative Fund, the Net Expense Ratio includes expenses related to short sales and interest on any borrowings.
-
The Merrill Lynch 3 Month Treasury Bill Index is designed to measure the performance of high-quality short-term cash-equivalent investments. Indexes are unmanaged and one cannot invest directly in an index.
-
-
As of: 6/30/2019
Portfolio Statistics
# of short holdings 764 # of long holdings 770 Asset Class Exposure
% of Risk Allocation Stocks & Industries 38.2% Equity Indices 17.5% Commodities 16.0% Fixed Income 15.7% Currencies 12.6%
-
All Fund Statistics are subject to change. Portfolio holdings are subject to change and should not be considered a recommendation to buy or sell securities.
-
Risk allocation is calculated as the relative weight of the expected volatilities for each asset class or strategy, with a sum equal to 100%. AQR calculates expected volatilities for each strategy using proprietary risk models to predict volatilities and correlations across all assets in the portfolio.
-
-
-
Investment Minimums
Individual Investors $1,000,000 Institutional Investors None Fee-based Accounts Offered By Financial Advisors None -
Shareholder Fees
Sales Load None Deferred Sales Load None Redemption Fees None
-
Annual Fund Operating Expenses
Management Fee 1.35 % Distribution (12b-1) Fee 0.25 % Acquired Fund Fees 0.07 % Other Expenses Dividends On Short Sales and/or Interest Expense 0.76 % All Other Expenses 0.15 % Gross Expenses 2.58 % Less: Fee Waivers 0.00 % Net Expenses 2.58 %
-
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.
-
The Gross Expense Ratio includes all categories of expenses before any expense reductions or fee waivers.
-
The Net Expense Ratio per the Fund’s latest Prospectus. For the Diversified Arbitrage Fund and the Multi-Strategy Alternative Fund, the Net Expense Ratio includes expenses related to short sales and interest on any borrowings.
-
-
-
Andrea Frazzini
Principal
- 14 years of experience
- 11 years at AQR
- Ph.D., Yale University
- M.S., London School of Economics
- B.S., University of Rome III
-
Jacques A. Friedman
Principal
- 23 years of experience
- 21 years at AQR
- M.S., University of Washington
- B.S., Brown University
-
Ronen Israel
Principal
- 24 years of experience
- 20 years at AQR
- M.A., Columbia University
- B.S., B.A.S., University of Pennsylvania
-
Michael Katz
Principal
- 12 years of experience
- 12 years at AQR
- Ph.D., A.M., Harvard University
- B.A., Tel Aviv University
-
| NAV | Change | Daily Return |
|---|---|---|
| NAV | Change | Daily Return |
| $8.65 | -$0.01 | -0.12% |
As of: 10/18/2019
-
We invest long and short across six different asset groups: stocks of major developed markets, country indices, bond futures, interest rate futures, currencies and commodities. We employ market-neutral, long-short strategies across these asset groups based on four investment styles:
Value — the tendency for relatively cheap assets to outperform relatively expensive ones
Momentum — the tendency for an asset’s recent relative performance to continue in the future
Carry — the tendency for higher-yielding assets to provide higher returns than lower-yielding assets
Defensive — the tendency for lower-risk and higher-quality assets to generate higher risk-adjusted returns
Each of these styles have historically had low correlations to one another, so we expect them to be profitable at different times for different reasons. Thus, a portfolio combining all four of them seeks to benefit from their expected low correlations to one another and could help provide a more robust, dependable stream of returns.
-
-
Monthly
Month YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio AQR Funds - AQR Style Premia Alternative Fund 2.38% -4.54% -10.08% -1.34% 1.80% 2.84% 10/31/2013 2.25% 2.24% ICE BofAML US 3M T-Bill 0.18% 1.81% 2.39% 1.54% 0.98% 0.84% - - - -
Quarterly
Quarter YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio AQR Funds - AQR Style Premia Alternative Fund 0.70% -4.54% -10.08% -1.34% 1.80% 2.84% 10/31/2013 2.25% 2.24% ICE BofAML US 3M T-Bill 0.57% 1.81% 2.39% 1.54% 0.98% 0.84% - - -
-
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.
-
The Gross Expense Ratio includes all categories of expenses before any expense reductions or fee waivers.
-
The Net Expense Ratio per the Fund’s latest Prospectus. For the Diversified Arbitrage Fund and the Multi-Strategy Alternative Fund, the Net Expense Ratio includes expenses related to short sales and interest on any borrowings.
-
The Merrill Lynch 3 Month Treasury Bill Index is designed to measure the performance of high-quality short-term cash-equivalent investments. Indexes are unmanaged and one cannot invest directly in an index.
-
-
As of: 6/30/2019
Portfolio Statistics
# of short holdings 764 # of long holdings 770 Asset Class Exposure
% of Risk Allocation Stocks & Industries 38.2% Equity Indices 17.5% Commodities 16.0% Fixed Income 15.7% Currencies 12.6%
-
All Fund Statistics are subject to change. Portfolio holdings are subject to change and should not be considered a recommendation to buy or sell securities.
-
Risk allocation is calculated as the relative weight of the expected volatilities for each asset class or strategy, with a sum equal to 100%. AQR calculates expected volatilities for each strategy using proprietary risk models to predict volatilities and correlations across all assets in the portfolio.
-
-
-
Investment Minimums
Individual Investors Not Available Institutional Investors $100,000 Fee-based Accounts Offered By Financial Advisors $50 million or a total of $100 million combined per advisor across all Funds -
Shareholder Fees
Sales Load None Deferred Sales Load None Redemption Fees None
-
Annual Fund Operating Expenses
Management Fee 1.35 % Distribution (12b-1) Fee None Acquired Fund Fees 0.07 % Other Expenses Dividends On Short Sales and/or Interest Expense 0.77 % All Other Expenses 0.06 % Gross Expenses 2.25 % Less: Fee Waivers 0.01 % Net Expenses 2.24 %
-
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.
-
The Gross Expense Ratio includes all categories of expenses before any expense reductions or fee waivers.
-
The Net Expense Ratio per the Fund’s latest Prospectus. For the Diversified Arbitrage Fund and the Multi-Strategy Alternative Fund, the Net Expense Ratio includes expenses related to short sales and interest on any borrowings.
-
-
-
Andrea Frazzini
Principal
- 14 years of experience
- 11 years at AQR
- Ph.D., Yale University
- M.S., London School of Economics
- B.S., University of Rome III
-
Jacques A. Friedman
Principal
- 23 years of experience
- 21 years at AQR
- M.S., University of Washington
- B.S., Brown University
-
Ronen Israel
Principal
- 24 years of experience
- 20 years at AQR
- M.A., Columbia University
- B.S., B.A.S., University of Pennsylvania
-
Michael Katz
Principal
- 12 years of experience
- 12 years at AQR
- Ph.D., A.M., Harvard University
- B.A., Tel Aviv University
-
-
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. -
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.
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.
©2018 AQR Funds. All rights reserved.