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    International Equity Fund

    1. Class I/L
    2. Class N
    3. Class Y
    4. Class R6
    Ticker: AQIIX - Fact Sheet

    Investment Objective

    Seeks long-term capital appreciation. 

    Performance
    NAV Change Daily Return
    NAV Change Daily Return
    $10.38 $0.02 0.10%
    As of: 3/5/2015
     
    • The Fund combines three sources of potential return: bottom-up stock and industry selection, top-down country selection, and top-down currency selection. 

      We start by developing a ranking for each stock in the investable universe using a disciplined, systematic approach to analyze a wide variety of factors based on the underlying philosophy of value and momentum. We then develop an independent view of the attractiveness of countries and currencies as an overlay to the selection of individual stocks.
       
      We combine these rankings into a portfolio that takes into account trading costs and liquidity considerations, and rebalance in a manner that seeks to create a balance between keeping the portfolio in line with the ideal desired portfolio and the need to minimize trading costs. 

      Trades are primarily executed in a highly automated and liquidity-providing manner to seek to reduce the total cost of trading.

      • AQR International Equity Fund: The Fund uses derivatives to manage its country and currency exposures. The use of derivatives 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. Foreign investing involves special risks such as currency fluctuations and political uncertainty.
      1. Monthly

        Period Ending: 2/27/2015
          Month YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio Expense Cap
        International Equity Fund 4.93% 6.00% -3.26% 9.86% 8.29% 6.45% 7/30/2004 0.90% 0.90% 0.95%
        MSCI EAFE 5.98% 6.50% -0.03% 9.41% 7.78% 6.53% - - - -
      2.  
      3. Quarterly

        Period Ending: 12/31/2014
          Quarter YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio Expense Cap
        International Equity Fund -2.51% -7.55% -7.55% 12.09% 5.73% 5.96% 7/30/2004 0.90% 0.90% 0.95%
        MSCI EAFE -3.57% -4.90% -4.90% 11.06% 5.33% 5.99% - - - -

      • 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.
      • A privately offered fund managed by the Adviser was reorganized into the International Equity Fund on August 28, 2009, the date the Fund commenced operations. This privately offered fund was organized in June 2004 and commenced operations in August 2004 and had an investment objective, investment policies and restrictions that were, in all material respects, the same as those of the Fund. However, the privately offered fund was not registered as an investment company under the 1940 Act. In addition, this privately offered fund was not subject to certain investment limitations, diversification requirements, liquidity requirements, and other restrictions imposed by the 1940 Act and the Code which, if applicable, might have adversely affected its performance. The Fund’s performance for periods prior to the commencement of operations on or about August 28, 2009 is that of the privately offered fund.
      • The MSCI EAFE Index is a market capitalization weighted index composed of companies representative of the market structure of 21 developed market countries in Europe, Australasia and the Far East. You cannot invest directly in an index.
      • 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 Adviser has contractually agreed to waive its management fee and/or reimburse expenses to the extent necessary to maintain the total annual Fund operating expenses at the stated levels. These expense caps are exclusive of expenses that may apply to some of the Funds, such as acquired fund fees, expenses related to short sales and borrowing costs, and extraordinary expenses. See the Prospectus for additional details. The expense caps are guaranteed until the following dates:

        Diversified Arbitrage Fund, Long/Short Equity Fund, Managed Futures Strategy Fund, Managed Futures Strategy HV Fund, Multi-Strategy Alternative Fund, Risk-Balanced Commodities Strategy Fund, Risk Parity Fund, Risk Parity II MV Fund, Risk Parity II HV Fund and Style Premia Alternative Fund: April 30, 2015
        Defensive Style Funds, Momentum Style Funds, Multi-Style Funds, International Equity Fund and Global Equity Fund: January 28, 2016
        Equity Market Neutral Fund, Global Macro Fund and Style Premia Alternative Fund LV: April 30, 2016
        TM Multi-Style Funds: January 28, 2017

      • AQR International Equity Fund: The Fund uses derivatives to manage its country and currency exposures. The use of derivatives 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. Foreign investing involves special risks such as currency fluctuations and political uncertainty.

       

      1. Investment Minimums

        Individual Investors $5 Million
        Institutional Investors $100,000
        Fee-based Accounts Offered By Financial Advisors None
        To be eligible for Class I Shares, a financial advisor must invest a minimum of $100,000 across all client accounts. Certain other categories of investors may invest at a reduced minimum. See Prospectus for details.
      2.  
      3. Shareholder Fees

        Sales Load None
        Deferred Sales Load None
        Redemption Fees None
      1. Annual Fund Operating Expenses

        Management Fee 0.45%
        Distribution (12b-1) Fee None
        Acquired Fund Fees None
        Other Expenses  
            Dividends On Short Sales None
            All Other Expenses 0.45%
        Gross Expenses 0.90%
        Less: Fee Waivers 0.00%
        Net Expenses 0.90%
        Expense Cap+ 0.95%
        Expense Cap Expiration Date 1/28/2016
        + The Adviser has contractually agreed to waive its management fee and/or reimburse expenses to the extent necessary to maintain the Total Annual Fund Operating Expenses at the stated levels. These expense caps are exclusive of expenses that may apply to some of the Funds, such as acquired fund fees, expenses related to short and borrowing costs and extraordinary expenses. See the Prospectus for additional details.

      • 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.
      • 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 Adviser has contractually agreed to waive its management fee and/or reimburse expenses to the extent necessary to maintain the total annual Fund operating expenses at the stated levels. These expense caps are exclusive of expenses that may apply to some of the Funds, such as acquired fund fees, expenses related to short sales and borrowing costs, and extraordinary expenses. See the Prospectus for additional details. The expense caps are guaranteed until the following dates:

        Diversified Arbitrage Fund, Long/Short Equity Fund, Managed Futures Strategy Fund, Managed Futures Strategy HV Fund, Multi-Strategy Alternative Fund, Risk-Balanced Commodities Strategy Fund, Risk Parity Fund, Risk Parity II MV Fund, Risk Parity II HV Fund and Style Premia Alternative Fund: April 30, 2015
        Defensive Style Funds, Momentum Style Funds, Multi-Style Funds, International Equity Fund and Global Equity Fund: January 28, 2016
        Equity Market Neutral Fund, Global Macro Fund and Style Premia Alternative Fund LV: April 30, 2016
        TM Multi-Style Funds: January 28, 2017

      • AQR International Equity Fund: The Fund uses derivatives to manage its country and currency exposures. The use of derivatives 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. Foreign investing involves special risks such as currency fluctuations and political uncertainty.
      • Clifford S. Asness, Founder

        AQR Founder and Managing Principal Clifford S. Asness

        Managing & Founding Principal

        • 23 years of experience
        • 17 years at AQR
        • Ph.D., M.B.A., University of Chicago
        • B.S., B.S., University of Pennsylvania
      • John M. Liew, Founder

        AQR Cofounder John M. Liew

        Founding Principal

        • 22 years of experience
        • 17 years at AQR
        • Ph.D., M.B.A., University of Chicago
        • B.A., University of Chicago
      • Ronen Israel

        AQR Principal Ronen Israel

        Principal

        • 18 years of experience
        • 15 years at AQR
        • M.A., Columbia University
        • B.S., B.A.S., University of Pennsylvania
      • Oktay Kurbanov

        AQR Principal Oktay Kurbanov

        Principal

        • 20 years of experience
        • 16 years at AQR
        • M.B.A., New York University
        • B.S., University of Michigan
      • Lars N. Nielsen

        AQR Principal Lars Nielsen

        Principal

        • 15 years of experience
        • 15 years at AQR
        • M.Sc., B.Sc., University of Copenhagen

      • Cliff Asness, Brian Hurst, Ari Levine and Yao Hua Ooi are Registered Representatives of ALPS Distributors, Inc.

    Ticker: AQINX - Fact Sheet

    Investment Objective

    Seeks long-term capital appreciation. 

    Performance
    NAV Change Daily Return
    NAV Change Daily Return
    $10.57 $0.03 0.19%
    As of: 3/5/2015
     
    • The Fund combines three sources of potential return: bottom-up stock and industry selection, top-down country selection, and top-down currency selection. 

      We start by developing a ranking for each stock in the investable universe using a disciplined, systematic approach to analyze a wide variety of factors based on the underlying philosophy of value and momentum. We then develop an independent view of the attractiveness of countries and currencies as an overlay to the selection of individual stocks.
       
      We combine these rankings into a portfolio that takes into account trading costs and liquidity considerations, and rebalance in a manner that seeks to create a balance between keeping the portfolio in line with the ideal desired portfolio and the need to minimize trading costs. 

      Trades are primarily executed in a highly automated and liquidity-providing manner to seek to reduce the total cost of trading.

      • AQR International Equity Fund: The Fund uses derivatives to manage its country and currency exposures. The use of derivatives 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. Foreign investing involves special risks such as currency fluctuations and political uncertainty.
      1. Monthly

        Period Ending: 2/27/2015
          Month YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio Expense Cap
        International Equity Fund 4.84% 5.89% -3.65% 9.45% 7.91% 6.10% 7/30/2004 1.24% 1.24% 1.25%
        MSCI EAFE 5.98% 6.50% -0.03% 9.41% 7.78% 6.53% - - - -
      2.  
      3. Quarterly

        Period Ending: 12/31/2014
          Quarter YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio Expense Cap
        International Equity Fund -2.56% -7.85% -7.85% 11.67% 5.43% 5.62% 7/30/2004 1.24% 1.24% 1.25%
        MSCI EAFE -3.57% -4.90% -4.90% 11.06% 5.33% 5.99% - - - -

      • 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.
      • A privately offered fund managed by the Adviser was reorganized into the International Equity Fund on August 28, 2009, the date the Fund commenced operations. This privately offered fund was organized in June 2004 and commenced operations in August 2004 and had an investment objective, investment policies and restrictions that were, in all material respects, the same as those of the Fund. However, the privately offered fund was not registered as an investment company under the 1940 Act. In addition, this privately offered fund was not subject to certain investment limitations, diversification requirements, liquidity requirements, and other restrictions imposed by the 1940 Act and the Code which, if applicable, might have adversely affected its performance. The Fund’s performance for periods prior to the commencement of operations on or about August 28, 2009 is that of the privately offered fund.
      • The MSCI EAFE Index is a market capitalization weighted index composed of companies representative of the market structure of 21 developed market countries in Europe, Australasia and the Far East. You cannot invest directly in an index.
      • 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 Adviser has contractually agreed to waive its management fee and/or reimburse expenses to the extent necessary to maintain the total annual Fund operating expenses at the stated levels. These expense caps are exclusive of expenses that may apply to some of the Funds, such as acquired fund fees, expenses related to short sales and borrowing costs, and extraordinary expenses. See the Prospectus for additional details. The expense caps are guaranteed until the following dates:

        Diversified Arbitrage Fund, Long/Short Equity Fund, Managed Futures Strategy Fund, Managed Futures Strategy HV Fund, Multi-Strategy Alternative Fund, Risk-Balanced Commodities Strategy Fund, Risk Parity Fund, Risk Parity II MV Fund, Risk Parity II HV Fund and Style Premia Alternative Fund: April 30, 2015
        Defensive Style Funds, Momentum Style Funds, Multi-Style Funds, International Equity Fund and Global Equity Fund: January 28, 2016
        Equity Market Neutral Fund, Global Macro Fund and Style Premia Alternative Fund LV: April 30, 2016
        TM Multi-Style Funds: January 28, 2017

      • AQR International Equity Fund: The Fund uses derivatives to manage its country and currency exposures. The use of derivatives 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. Foreign investing involves special risks such as currency fluctuations and political uncertainty.

       

      1. Investment Minimums

        Individual Investors $1 Million
        Institutional Investors None
        Fee-based Accounts Offered By Financial Advisors None
        Certain other categories of investors may invest in Class N shares at a reduced minimum. See Prospectus for details.
      2.  
      3. Shareholder Fees

        Sales Load None
        Deferred Sales Load None
        Redemption Fees None
      1. Annual Fund Operating Expenses

        Management Fee 0.45%
        Distribution (12b-1) Fee 0.25%
        Acquired Fund Fees None
        Other Expenses  
            Dividends On Short Sales None
            All Other Expenses 0.53%
        Gross Expenses 1.23%
        Less: Fee Waivers –0.03%
        Net Expenses 1.20%
        Expense Cap+ 1.20%
        Expense Cap Expiration Date 1/28/2016
        + The Adviser has contractually agreed to waive its management fee and/or reimburse expenses to the extent necessary to maintain the Total Annual Fund Operating Expenses at the stated levels. These expense caps are exclusive of expenses that may apply to some of the Funds, such as acquired fund fees, expenses related to short and borrowing costs and extraordinary expenses. See the Prospectus for additional details.

      • 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.
      • 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 Adviser has contractually agreed to waive its management fee and/or reimburse expenses to the extent necessary to maintain the total annual Fund operating expenses at the stated levels. These expense caps are exclusive of expenses that may apply to some of the Funds, such as acquired fund fees, expenses related to short sales and borrowing costs, and extraordinary expenses. See the Prospectus for additional details. The expense caps are guaranteed until the following dates:

        Diversified Arbitrage Fund, Long/Short Equity Fund, Managed Futures Strategy Fund, Managed Futures Strategy HV Fund, Multi-Strategy Alternative Fund, Risk-Balanced Commodities Strategy Fund, Risk Parity Fund, Risk Parity II MV Fund, Risk Parity II HV Fund and Style Premia Alternative Fund: April 30, 2015
        Defensive Style Funds, Momentum Style Funds, Multi-Style Funds, International Equity Fund and Global Equity Fund: January 28, 2016
        Equity Market Neutral Fund, Global Macro Fund and Style Premia Alternative Fund LV: April 30, 2016
        TM Multi-Style Funds: January 28, 2017

      • AQR International Equity Fund: The Fund uses derivatives to manage its country and currency exposures. The use of derivatives 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. Foreign investing involves special risks such as currency fluctuations and political uncertainty.
      • Clifford S. Asness, Founder

        AQR Founder and Managing Principal Clifford S. Asness

        Managing & Founding Principal

        • 23 years of experience
        • 17 years at AQR
        • Ph.D., M.B.A., University of Chicago
        • B.S., B.S., University of Pennsylvania
      • John M. Liew, Founder

        AQR Cofounder John M. Liew

        Founding Principal

        • 22 years of experience
        • 17 years at AQR
        • Ph.D., M.B.A., University of Chicago
        • B.A., University of Chicago
      • Ronen Israel

        AQR Principal Ronen Israel

        Principal

        • 18 years of experience
        • 15 years at AQR
        • M.A., Columbia University
        • B.S., B.A.S., University of Pennsylvania
      • Oktay Kurbanov

        AQR Principal Oktay Kurbanov

        Principal

        • 20 years of experience
        • 16 years at AQR
        • M.B.A., New York University
        • B.S., University of Michigan
      • Lars N. Nielsen

        AQR Principal Lars Nielsen

        Principal

        • 15 years of experience
        • 15 years at AQR
        • M.Sc., B.Sc., University of Copenhagen

      • Cliff Asness, Brian Hurst, Ari Levine and Yao Hua Ooi are Registered Representatives of ALPS Distributors, Inc.

    Ticker: AQIYX - Fact Sheet

    Investment Objective

    Seeks long-term capital appreciation. 

    Performance
    NAV Change Daily Return
    NAV Change Daily Return
    $10.97 $0.02 0.18%
    As of: 3/5/2015
     
    • The Fund combines three sources of potential return: bottom-up stock and industry selection, top-down country selection, and top-down currency selection. 

      We start by developing a ranking for each stock in the investable universe using a disciplined, systematic approach to analyze a wide variety of factors based on the underlying philosophy of value and momentum. We then develop an independent view of the attractiveness of countries and currencies as an overlay to the selection of individual stocks.
       
      We combine these rankings into a portfolio that takes into account trading costs and liquidity considerations, and rebalance in a manner that seeks to create a balance between keeping the portfolio in line with the ideal desired portfolio and the need to minimize trading costs. 

      Trades are primarily executed in a highly automated and liquidity-providing manner to seek to reduce the total cost of trading.

      • AQR International Equity Fund: The Fund uses derivatives to manage its country and currency exposures. The use of derivatives 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. Foreign investing involves special risks such as currency fluctuations and political uncertainty.
      1. Monthly

        Period Ending: 2/27/2015
          Month YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio Expense Cap
        International Equity Fund 4.95% 6.06% -2.92% 10.26% 8.67% 6.82% 7/30/2004 0.55% 0.55% 0.55%
        MSCI EAFE 5.98% 6.50% -0.03% 9.41% 7.78% 6.53% - - - -
      2.  
      3. Quarterly

        Period Ending: 12/31/2014
          Quarter YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio Expense Cap
        International Equity Fund -2.38% -7.26% -7.26% 12.47% 6.12% 6.33% 7/30/2004 0.55% 0.55% 0.55%
        MSCI EAFE -3.57% -4.90% -4.90% 11.06% 5.33% 5.99% - - - -

      • 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.
      • A privately offered fund managed by the Adviser was reorganized into the International Equity Fund on August 28, 2009, the date the Fund commenced operations. This privately offered fund was organized in June 2004 and commenced operations in August 2004 and had an investment objective, investment policies and restrictions that were, in all material respects, the same as those of the Fund. However, the privately offered fund was not registered as an investment company under the 1940 Act. In addition, this privately offered fund was not subject to certain investment limitations, diversification requirements, liquidity requirements, and other restrictions imposed by the 1940 Act and the Code which, if applicable, might have adversely affected its performance. The Fund’s performance for periods prior to the commencement of operations on or about August 28, 2009 is that of the privately offered fund.
      • The MSCI EAFE Index is a market capitalization weighted index composed of companies representative of the market structure of 21 developed market countries in Europe, Australasia and the Far East. You cannot invest directly in an index.
      • 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 Adviser has contractually agreed to waive its management fee and/or reimburse expenses to the extent necessary to maintain the total annual Fund operating expenses at the stated levels. These expense caps are exclusive of expenses that may apply to some of the Funds, such as acquired fund fees, expenses related to short sales and borrowing costs, and extraordinary expenses. See the Prospectus for additional details. The expense caps are guaranteed until the following dates:

        Diversified Arbitrage Fund, Long/Short Equity Fund, Managed Futures Strategy Fund, Managed Futures Strategy HV Fund, Multi-Strategy Alternative Fund, Risk-Balanced Commodities Strategy Fund, Risk Parity Fund, Risk Parity II MV Fund, Risk Parity II HV Fund and Style Premia Alternative Fund: April 30, 2015
        Defensive Style Funds, Momentum Style Funds, Multi-Style Funds, International Equity Fund and Global Equity Fund: January 28, 2016
        Equity Market Neutral Fund, Global Macro Fund and Style Premia Alternative Fund LV: April 30, 2016
        TM Multi-Style Funds: January 28, 2017

      • AQR International Equity Fund: The Fund uses derivatives to manage its country and currency exposures. The use of derivatives 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. Foreign investing involves special risks such as currency fluctuations and political uncertainty.

       

      1. Investment Minimums

        Individual Investors $5 Million
        Institutional Investors $5 Million
        Fee-based Accounts Offered By Financial Advisors Not Available
        Some financial intermediaries may impose different or additional eligibility and minimum requirements for Class R6 shares. See Prospectus for details.
      2.  
      3. Shareholder Fees

        Sales Load 0.10%
        Deferred Sales Load None
        Redemption Fees 0.10%
      1. Annual Fund Operating Expenses

        Management Fee 0.45%
        Distribution (12b-1) Fee None
        Acquired Fund Fees None
        Other Expenses  
            Dividends On Short Sales None
            All Other Expenses 0.09%
        Gross Expenses 0.54%
        Less: Fee Waivers None
        Net Expenses 0.54%
        Expense Cap+ None
        + The Adviser has contractually agreed to waive its management fee and/or reimburse expenses to the extent necessary to maintain the Total Annual Fund Operating Expenses at the stated levels. These expense caps are exclusive of expenses that may apply to some of the Funds, such as acquired fund fees, expenses related to short and borrowing costs and extraordinary expenses. See the Prospectus for additional details.

      • 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.
      • 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 Adviser has contractually agreed to waive its management fee and/or reimburse expenses to the extent necessary to maintain the total annual Fund operating expenses at the stated levels. These expense caps are exclusive of expenses that may apply to some of the Funds, such as acquired fund fees, expenses related to short sales and borrowing costs, and extraordinary expenses. See the Prospectus for additional details. The expense caps are guaranteed until the following dates:

        Diversified Arbitrage Fund, Long/Short Equity Fund, Managed Futures Strategy Fund, Managed Futures Strategy HV Fund, Multi-Strategy Alternative Fund, Risk-Balanced Commodities Strategy Fund, Risk Parity Fund, Risk Parity II MV Fund, Risk Parity II HV Fund and Style Premia Alternative Fund: April 30, 2015
        Defensive Style Funds, Momentum Style Funds, Multi-Style Funds, International Equity Fund and Global Equity Fund: January 28, 2016
        Equity Market Neutral Fund, Global Macro Fund and Style Premia Alternative Fund LV: April 30, 2016
        TM Multi-Style Funds: January 28, 2017

      • AQR International Equity Fund: The Fund uses derivatives to manage its country and currency exposures. The use of derivatives 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. Foreign investing involves special risks such as currency fluctuations and political uncertainty.
      • Clifford S. Asness, Founder

        AQR Founder and Managing Principal Clifford S. Asness

        Managing & Founding Principal

        • 23 years of experience
        • 17 years at AQR
        • Ph.D., M.B.A., University of Chicago
        • B.S., B.S., University of Pennsylvania
      • John M. Liew, Founder

        AQR Cofounder John M. Liew

        Founding Principal

        • 22 years of experience
        • 17 years at AQR
        • Ph.D., M.B.A., University of Chicago
        • B.A., University of Chicago
      • Ronen Israel

        AQR Principal Ronen Israel

        Principal

        • 18 years of experience
        • 15 years at AQR
        • M.A., Columbia University
        • B.S., B.A.S., University of Pennsylvania
      • Oktay Kurbanov

        AQR Principal Oktay Kurbanov

        Principal

        • 20 years of experience
        • 16 years at AQR
        • M.B.A., New York University
        • B.S., University of Michigan
      • Lars N. Nielsen

        AQR Principal Lars Nielsen

        Principal

        • 15 years of experience
        • 15 years at AQR
        • M.Sc., B.Sc., University of Copenhagen

      • Cliff Asness, Brian Hurst, Ari Levine and Yao Hua Ooi are Registered Representatives of ALPS Distributors, Inc.

    • Quarterly Updates
      Commentary
      Performance Attribution
      Quarterly Review Book
      Data Downloads
      Complete Holdings
      Daily Price History
      Monthly Return History
      Analyst Data Pack
    Ticker: AQIRX - Fact Sheet

    Investment Objective

    Seeks long-term capital appreciation.

    Performance
    NAV Change Daily Return
    NAV Change Daily Return
    $10.97 $0.02 0.18%
    As of: 3/5/2015
     
    • The Fund combines three sources of potential return: bottom-up stock and industry selection, top-down country selection, and top-down currency selection. 

      We start by developing a ranking for each stock in the investable universe using a disciplined, systematic approach to analyze a wide variety of factors based on the underlying philosophy of value and momentum. We then develop an independent view of the attractiveness of countries and currencies as an overlay to the selection of individual stocks.
       
      We combine these rankings into a portfolio that takes into account trading costs and liquidity considerations, and rebalance in a manner that seeks to create a balance between keeping the portfolio in line with the ideal desired portfolio and the need to minimize trading costs. 

      Trades are primarily executed in a highly automated and liquidity-providing manner to seek to reduce the total cost of trading.

      • AQR International Equity Fund: The Fund uses derivatives to manage its country and currency exposures. The use of derivatives 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. Foreign investing involves special risks such as currency fluctuations and political uncertainty.
      1. Monthly

        Period Ending: 2/27/2015
          Month YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio Expense Cap
        International Equity Fund 4.86% 5.97% -3.14% -0.93% 1/8/2014 0.75% 0.75% 0.75%
        MSCI EAFE 5.98% 6.50% -0.03% 9.41% 7.78% 6.53% - - - -
      2.  
      3. Quarterly

        Period Ending: 12/31/2014
          Quarter YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio Expense Cap
        International Equity Fund -2.43% -6.63% 1/8/2014 0.75% 0.75% 0.75%
        MSCI EAFE -3.57% -4.90% -4.90% 11.06% 5.33% 5.99% - - - -

      • 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.
      • A privately offered fund managed by the Adviser was reorganized into the International Equity Fund on August 28, 2009, the date the Fund commenced operations. This privately offered fund was organized in June 2004 and commenced operations in August 2004 and had an investment objective, investment policies and restrictions that were, in all material respects, the same as those of the Fund. However, the privately offered fund was not registered as an investment company under the 1940 Act. In addition, this privately offered fund was not subject to certain investment limitations, diversification requirements, liquidity requirements, and other restrictions imposed by the 1940 Act and the Code which, if applicable, might have adversely affected its performance. The Fund’s performance for periods prior to the commencement of operations on or about August 28, 2009 is that of the privately offered fund.
      • The MSCI EAFE Index is a market capitalization weighted index composed of companies representative of the market structure of 21 developed market countries in Europe, Australasia and the Far East. You cannot invest directly in an index.
      • 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 Adviser has contractually agreed to waive its management fee and/or reimburse expenses to the extent necessary to maintain the total annual Fund operating expenses at the stated levels. These expense caps are exclusive of expenses that may apply to some of the Funds, such as acquired fund fees, expenses related to short sales and borrowing costs, and extraordinary expenses. See the Prospectus for additional details. The expense caps are guaranteed until the following dates:

        Diversified Arbitrage Fund, Long/Short Equity Fund, Managed Futures Strategy Fund, Managed Futures Strategy HV Fund, Multi-Strategy Alternative Fund, Risk-Balanced Commodities Strategy Fund, Risk Parity Fund, Risk Parity II MV Fund, Risk Parity II HV Fund and Style Premia Alternative Fund: April 30, 2015
        Defensive Style Funds, Momentum Style Funds, Multi-Style Funds, International Equity Fund and Global Equity Fund: January 28, 2016
        Equity Market Neutral Fund, Global Macro Fund and Style Premia Alternative Fund LV: April 30, 2016
        TM Multi-Style Funds: January 28, 2017

      • AQR International Equity Fund: The Fund uses derivatives to manage its country and currency exposures. The use of derivatives 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. Foreign investing involves special risks such as currency fluctuations and political uncertainty.

       

      1. Investment Minimums

        Individual Investors Not Available
        Institutional Investors $5 Million
        Fee-based Accounts Offered By Financial Advisors $50 Million
        Some financial intermediaries may impose different or additional eligibility and minimum requirements for Class R6 shares. See Prospectus for details.
      2.  
      3. Shareholder Fees

        Sales Load None
        Deferred Sales Load None
        Redemption Fees None
      1. Annual Fund Operating Expenses

        Management Fee 0.45%
        Distribution (12b-1) Fee None
        Acquired Fund Fees None
        Other Expenses  
            Dividends On Short Sales None
            All Other Expenses 0.29%
        Gross Expenses 0.74%
        Less: Fee Waivers None
        Net Expenses 0.74%
        Expense Cap+ 0.75%
        Expense Cap Expiration Date 1/28/2016
        + The Adviser has contractually agreed to waive its management fee and/or reimburse expenses to the extent necessary to maintain the Total Annual Fund Operating Expenses at the stated levels. These expense caps are exclusive of expenses that may apply to some of the Funds, such as acquired fund fees, expenses related to short and borrowing costs and extraordinary expenses. See the Prospectus for additional details.

      • 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.
      • 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 Adviser has contractually agreed to waive its management fee and/or reimburse expenses to the extent necessary to maintain the total annual Fund operating expenses at the stated levels. These expense caps are exclusive of expenses that may apply to some of the Funds, such as acquired fund fees, expenses related to short sales and borrowing costs, and extraordinary expenses. See the Prospectus for additional details. The expense caps are guaranteed until the following dates:

        Diversified Arbitrage Fund, Long/Short Equity Fund, Managed Futures Strategy Fund, Managed Futures Strategy HV Fund, Multi-Strategy Alternative Fund, Risk-Balanced Commodities Strategy Fund, Risk Parity Fund, Risk Parity II MV Fund, Risk Parity II HV Fund and Style Premia Alternative Fund: April 30, 2015
        Defensive Style Funds, Momentum Style Funds, Multi-Style Funds, International Equity Fund and Global Equity Fund: January 28, 2016
        Equity Market Neutral Fund, Global Macro Fund and Style Premia Alternative Fund LV: April 30, 2016
        TM Multi-Style Funds: January 28, 2017

      • AQR International Equity Fund: The Fund uses derivatives to manage its country and currency exposures. The use of derivatives 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. Foreign investing involves special risks such as currency fluctuations and political uncertainty.
      • Clifford S. Asness, Founder

        AQR Founder and Managing Principal Clifford S. Asness

        Managing & Founding Principal

        • 23 years of experience
        • 17 years at AQR
        • Ph.D., M.B.A., University of Chicago
        • B.S., B.S., University of Pennsylvania
      • John M. Liew, Founder

        AQR Cofounder John M. Liew

        Founding Principal

        • 22 years of experience
        • 17 years at AQR
        • Ph.D., M.B.A., University of Chicago
        • B.A., University of Chicago
      • Ronen Israel

        AQR Principal Ronen Israel

        Principal

        • 18 years of experience
        • 15 years at AQR
        • M.A., Columbia University
        • B.S., B.A.S., University of Pennsylvania
      • Oktay Kurbanov

        AQR Principal Oktay Kurbanov

        Principal

        • 20 years of experience
        • 16 years at AQR
        • M.B.A., New York University
        • B.S., University of Michigan
      • Lars N. Nielsen

        AQR Principal Lars Nielsen

        Principal

        • 15 years of experience
        • 15 years at AQR
        • M.Sc., B.Sc., University of Copenhagen

      • Cliff Asness, Brian Hurst, Ari Levine and Yao Hua Ooi are Registered Representatives of ALPS Distributors, Inc.

    • Quarterly Updates
      Commentary
      Performance Attribution
      Quarterly Review Book
      Data Downloads
      Complete Holdings
      Daily Price History
      Monthly Return History
      Analyst Data Pack

    • 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.