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TM Large Cap Multi-Style Fund
| NAV | Change | Daily Return |
|---|---|---|
| NAV | Change | Daily Return |
| $11.87 | -$0.24 | -1.98% |
As of: 12/14/2018
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Multi-style equity funds seek to outperform a broad equity index. While many rely on "manager skill" to beat their benchmarks, AQR takes a different approach. Instead of investing in a manager’s skill, we invest in rigorously researched "styles."
Styles are systematic investment strategies that have historically provided long-term positive returns in excess of their benchmarks. This Fund employs three styles—value, momentum and quality—to construct a portfolio of U.S. large- and mid-cap companies.
In addition to these three styles having positive excess returns in the long run, they have historically generated returns with low correlations (or the tendency to move in sync) with one another. Thus, a portfolio combining all three could help to provide a more robust, dependable stream of returns.
The Fund also employs tax management techniques designed to ensure investors receive lower distributions of realized capital gains than mutual funds that do not take tax consequences into account. However, investors should not expect that there will be no capital gain distributions.
We believe no other investment manager offers a multi-style equity mutual fund that seeks to exploit the positive returns and diversification benefits of all three of these robust styles in a single portfolio.
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Monthly
Month YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio AQR TM Large Cap Multi-Style Fund 0.79% -0.62% 0.51% 8.97% 7.38% 2/11/2015 0.54% 0.46% - Return after taxes on distributions -0.29% 7.18% 14.56% 14.22% 7.18% - - - - Return after taxes on distributions and share liquidation -0.17% 4.25% 9.00% 11.33% 5.73% - - - Russell 1000 Total Return Index 2.04% 4.76% 5.92% 11.94% 9.83% - - - -
Quarterly
Quarter YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio AQR TM Large Cap Multi-Style Fund 6.27% 7.18% 14.86% 14.49% 9.99% 2/11/2015 0.54% 0.46% - Return after taxes on distributions 6.27% 7.18% 14.56% 14.22% 9.79% - - - - Return after taxes on distributions and share liquidation 3.71% 4.25% 9.00% 11.33% 7.80% - - - Russell 1000 Total Return Index 7.42% 10.49% 17.76% 17.07% 11.93% - - -
-
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 Russell 1000 Index measures the performance of the 1,000 largest companies in the Russell 3000 Index. Indexes are unmanaged and one 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.
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As of: 9/30/2018
Sector Exposures
TM Large Cap Multi-Style Fund Benchmark Fund-Index Communication Services 0.4% 1.9% -1.5% Consumer Discretionary 15.0% 13.1% 2.0% Consumer Staples 3.5% 6.3% -2.8% Energy 4.0% 5.8% -1.8% Financials 14.0% 13.4% 0.5% Health Care 14.7% 14.5% 0.3% Industrials 12.1% 10.1% 2.1% Information Technology 29.2% 26.1% 3.1% Materials 3.5% 2.8% 0.7% Real Estate 0.1% 3.3% -3.1% Utilities 3.5% 2.8% 0.7% Total 100.0% 100.0% 0.0% Top Ten Holdings
% of Net Assets Apple 4.1% Microsoft 3.5% Amazon.com 2.9% Intel 2.1% Facebook 2.0% JP Morgan 1.9% Alphabet 1.9% Boeing 1.8% Exelon 1.6% Micron Tech 1.6% Top Ten Total (%) 23.3% Portfolio Statistics
# of stocks 232 Price Momentum 0.31 EPS Growth (5 Year) 10.54 P/B 3.05 P/E (trailing 12 months) 16.52 Median Market Cap ($MM) 23260 Average Market Cap ($MM) 211850
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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.
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Investment Minimums
Individual Investors $5 Million Institutional Investors $100,000 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 0.30 % Distribution (12b-1) Fee None Acquired Fund Fees 0.01 % Other Expenses Dividends On Short Sales None All Other Expenses 0.23 % Gross Expenses 0.54 % Less: Fee Waivers 0.08 % Net Expenses 0.46 %
-
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.
-
-
-
Clifford S. Asness, Founder
Managing & Founding Principal
- 26 years of experience
- 20 years at AQR
- Ph.D., M.B.A., University of Chicago
- B.S., B.S., University of Pennsylvania
-
Andrea Frazzini
Principal
- 13 years of experience
- 10 years at AQR
- Ph.D., Yale University
- M.S., London School of Economics
- B.S., University of Rome III
-
Jacques A. Friedman
Principal
- 22 years of experience
- 20 years at AQR
- M.S., University of Washington
- B.S., Brown University
-
Ronen Israel
Principal
- 23 years of experience
- 19 years at AQR
- M.A., Columbia University
- B.S., B.A.S., University of Pennsylvania
-
| NAV | Change | Daily Return |
|---|---|---|
| NAV | Change | Daily Return |
| $11.83 | -$0.23 | -1.91% |
As of: 12/14/2018
-
Multi-style equity funds seek to outperform a broad equity index. While many rely on "manager skill" to beat their benchmarks, AQR takes a different approach. Instead of investing in a manager’s skill, we invest in rigorously researched "styles."
Styles are systematic investment strategies that have historically provided long-term positive returns in excess of their benchmarks. This Fund employs three styles—value, momentum and quality—to construct a portfolio of U.S. large- and mid-cap companies.
In addition to these three styles having positive excess returns in the long run, they have historically generated returns with low correlations (or the tendency to move in sync) with one another. Thus, a portfolio combining all three could help to provide a more robust, dependable stream of returns.
The Fund also employs tax management techniques designed to ensure investors receive lower distributions of realized capital gains than mutual funds that do not take tax consequences into account. However, investors should not expect that there will be no capital gain distributions.
We believe no other investment manager offers a multi-style equity mutual fund that seeks to exploit the positive returns and diversification benefits of all three of these robust styles in a single portfolio.
-
-
Monthly
Month YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio AQR TM Large Cap Multi-Style Fund 0.79% -0.86% 0.20% 8.66% 7.08% 2/11/2015 0.79% 0.71% - Return after taxes on distributions -0.36% 6.96% 14.32% 13.97% 6.93% - - - - Return after taxes on distributions and share liquidation -0.22% 4.12% 8.78% 11.09% 5.50% - - - Russell 1000 Total Return Index 2.04% 4.76% 5.92% 11.94% 9.83% - - - -
Quarterly
Quarter YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio AQR TM Large Cap Multi-Style Fund 6.13% 6.96% 14.57% 14.18% 9.68% 2/11/2015 0.79% 0.71% - Return after taxes on distributions 6.13% 6.96% 14.32% 13.97% 9.52% - - - - Return after taxes on distributions and share liquidation 3.63% 4.12% 8.78% 11.09% 7.56% - - - Russell 1000 Total Return Index 7.42% 10.49% 17.76% 17.07% 11.93% - - -
-
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 Russell 1000 Index measures the performance of the 1,000 largest companies in the Russell 3000 Index. Indexes are unmanaged and one 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.
-
-
As of: 9/30/2018
Sector Exposures
TM Large Cap Multi-Style Fund Benchmark Fund-Index Communication Services 0.4% 1.9% -1.5% Consumer Discretionary 15.0% 13.1% 2.0% Consumer Staples 3.5% 6.3% -2.8% Energy 4.0% 5.8% -1.8% Financials 14.0% 13.4% 0.5% Health Care 14.7% 14.5% 0.3% Industrials 12.1% 10.1% 2.1% Information Technology 29.2% 26.1% 3.1% Materials 3.5% 2.8% 0.7% Real Estate 0.1% 3.3% -3.1% Utilities 3.5% 2.8% 0.7% Total 100.0% 100.0% 0.0% Top Ten Holdings
% of Net Assets Apple 4.1% Microsoft 3.5% Amazon.com 2.9% Intel 2.1% Facebook 2.0% JP Morgan 1.9% Alphabet 1.9% Boeing 1.8% Exelon 1.6% Micron Tech 1.6% Top Ten Total (%) 23.3% Portfolio Statistics
# of stocks 232 Price Momentum 0.31 EPS Growth (5 Year) 10.54 P/B 3.05 P/E (trailing 12 months) 16.52 Median Market Cap ($MM) 23260 Average Market Cap ($MM) 211850
-
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.
-
-
-
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 0.30 % Distribution (12b-1) Fee 0.25 % Acquired Fund Fees 0.01 % Other Expenses Dividends On Short Sales None All Other Expenses 0.23 % Gross Expenses 0.79 % Less: Fee Waivers 0.08 % Net Expenses 0.71 %
-
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.
-
-
-
Clifford S. Asness, Founder
Managing & Founding Principal
- 26 years of experience
- 20 years at AQR
- Ph.D., M.B.A., University of Chicago
- B.S., B.S., University of Pennsylvania
-
Andrea Frazzini
Principal
- 13 years of experience
- 10 years at AQR
- Ph.D., Yale University
- M.S., London School of Economics
- B.S., University of Rome III
-
Jacques A. Friedman
Principal
- 22 years of experience
- 20 years at AQR
- M.S., University of Washington
- B.S., Brown University
-
Ronen Israel
Principal
- 23 years of experience
- 19 years at AQR
- M.A., Columbia University
- B.S., B.A.S., University of Pennsylvania
-
| NAV | Change | Daily Return |
|---|---|---|
| NAV | Change | Daily Return |
| $11.89 | -$0.23 | -1.90% |
As of: 12/14/2018
-
Multi-style equity funds seek to outperform a broad equity index. While many rely on "manager skill" to beat their benchmarks, AQR takes a different approach. Instead of investing in a manager’s skill, we invest in rigorously researched "styles."
Styles are systematic investment strategies that have historically provided long-term positive returns in excess of their benchmarks. This Fund employs three styles—value, momentum and quality—to construct a portfolio of U.S. large- and mid-cap companies.
In addition to these three styles having positive excess returns in the long run, they have historically generated returns with low correlations (or the tendency to move in sync) with one another. Thus, a portfolio combining all three could help to provide a more robust, dependable stream of returns.
The Fund also employs tax management techniques designed to ensure investors receive lower distributions of realized capital gains than mutual funds that do not take tax consequences into account. However, investors should not expect that there will be no capital gain distributions.
We believe no other investment manager offers a multi-style equity mutual fund that seeks to exploit the positive returns and diversification benefits of all three of these robust styles in a single portfolio.
-
-
Monthly
Month YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio AQR TM Large Cap Multi-Style Fund 0.87% -0.55% 0.60% 9.05% 7.47% 2/11/2015 0.44% 0.36% - Return after taxes on distributions -0.29% 7.25% 14.70% 14.33% 7.26% - - - - Return after taxes on distributions and share liquidation -0.17% 4.29% 9.11% 11.42% 5.80% - - - Russell 1000 Total Return Index 2.04% 4.76% 5.92% 11.94% 9.83% - - - -
Quarterly
Quarter YTD 1 Year 3 Year 5 Year Since Inception Inception Date Gross Expense Ratio Net Expense Ratio AQR TM Large Cap Multi-Style Fund 6.26% 7.25% 15.03% 14.61% 10.09% 2/11/2015 0.44% 0.36% - Return after taxes on distributions 6.26% 7.25% 14.70% 14.33% 9.87% - - - - Return after taxes on distributions and share liquidation 3.71% 4.29% 9.11% 11.42% 7.87% - - - Russell 1000 Total Return Index 7.42% 10.49% 17.76% 17.07% 11.93% - - -
-
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 Russell 1000 Index measures the performance of the 1,000 largest companies in the Russell 3000 Index. Indexes are unmanaged and one 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.
-
-
-
Investment Minimums
Individual Investors Not Available Institutional Investors $50 Million 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 0.30 % Distribution (12b-1) Fee None Acquired Fund Fees 0.01 % Other Expenses Dividends On Short Sales None All Other Expenses 0.13 % Gross Expenses 0.44 % Less: Fee Waivers 0.08 % Net Expenses 0.36 %
-
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.
-
-
-
Clifford S. Asness, Founder
Managing & Founding Principal
- 26 years of experience
- 20 years at AQR
- Ph.D., M.B.A., University of Chicago
- B.S., B.S., University of Pennsylvania
-
Andrea Frazzini
Principal
- 13 years of experience
- 10 years at AQR
- Ph.D., Yale University
- M.S., London School of Economics
- B.S., University of Rome III
-
Jacques A. Friedman
Principal
- 22 years of experience
- 20 years at AQR
- M.S., University of Washington
- B.S., Brown University
-
Ronen Israel
Principal
- 23 years of experience
- 19 years at AQR
- M.A., Columbia University
- B.S., B.A.S., University of Pennsylvania
-
-
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.