NAV | Change | Daily Return |
---|---|---|
NAV | Change | Daily Return |
$13.84 | -$0.15 | -1.07% |
Using a systematic, multi-factor investment research process, the Fund develops a ranking of every stock in the investable universe. Based on these rankings, the Fund over- and underweights securities, industries, and sectors relative to the MSCI Emerging Index.
“Relaxed Constraint” reflects the Fund’s ability to take long and short positions in the equity securities in which it invests. The Fund invests approximately 130% of the portfolio’s assets long, and 30% short, targeting 100% net exposure to the market.
Selling securities short allows the Fund to reflect to a greater extent, compared to a long-only approach, the Manager’s views on securities it expects to underperform.
Reinvesting the short sale proceeds allows the Fund to take additional long positions, increasing the portfolio’s exposure to securities the Manager expects to outperform.
* The Adviser has contractually agreed until at least January 28, 2018 to waive its management fee and/or reimburse expenses of the Fund to the extent necessary to maintain the total annual fund operating expenses at the stated levels, exclusive of certain expenses such as acquired fund expenses and extraordinary expenses. Investment minimums are waived to fee-based advisors and certain other investors. See the Prospectus for additional details.
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.
Month | YTD | 1 Year | 3 Year | 5 Year | Since Inception | Inception Date | Gross Expense Ratio | Net Expense Ratio | |
---|---|---|---|---|---|---|---|---|---|
AQR Emerging Relaxed Constraint Equity Fund | -0.21% | 5.40% | 29.66% | 32.71% | 12/14/2016 | 3.89% | 1.22% | ||
MSCI Emerging | -1.99% | 1.28% | 24.76% | 28.09% | - | - | - |
Quarter | YTD | 1 Year | 3 Year | 5 Year | Since Inception | Inception Date | Gross Expense Ratio | Net Expense Ratio | |
---|---|---|---|---|---|---|---|---|---|
AQR Emerging Relaxed Constraint Equity Fund | 5.40% | 5.40% | 29.66% | 32.71% | 12/14/2016 | 3.89% | 1.22% | ||
MSCI Emerging | 1.28% | 1.28% | 24.76% | 28.09% | - | - | - |
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 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.
Emerging Relaxed Constraint Equity Fund | Benchmark | Fund-Index | |
---|---|---|---|
Brazil | 7.0% | 6.8% | 0.2% |
Chile | 1.7% | 1.3% | 0.5% |
China | 30.4% | 29.6% | 0.8% |
Colombia | 0.0% | 0.4% | -0.4% |
Czech Republic | 0.0% | 0.2% | -0.2% |
Egypt | 0.0% | 0.1% | -0.1% |
Greece | 0.0% | 0.3% | -0.3% |
Hong Kong | 0.0% | 0.1% | -0.1% |
Hungary | 0.1% | 0.3% | -0.2% |
India | 8.4% | 8.8% | -0.4% |
Indonesia | 2.2% | 2.2% | 0.0% |
Malaysia | 2.7% | 2.4% | 0.4% |
Mexico | 3.5% | 2.9% | 0.6% |
Pakistan | 0.0% | 0.1% | -0.1% |
Peru | 0.2% | 0.4% | -0.2% |
Philippines | 1.0% | 1.1% | -0.2% |
Poland | 1.8% | 1.3% | 0.5% |
Qatar | 0.1% | 0.6% | -0.4% |
Russia | 3.0% | 3.3% | -0.3% |
South Africa | 6.8% | 7.1% | -0.3% |
South Korea | 15.8% | 15.4% | 0.4% |
Taiwan | 11.1% | 11.3% | -0.2% |
Thailand | 2.4% | 2.3% | 0.1% |
Turkey | 1.6% | 1.1% | 0.5% |
United Arab Emirates | 0.1% | 0.6% | -0.6% |
Total | 100.0% | 100.0% | 0.0% |
Emerging Relaxed Constraint Equity Fund | Benchmark | Fund-Index | |
---|---|---|---|
Consumer Discretionary | 11.6% | 10.2% | 1.4% |
Consumer Staples | 0.4% | 6.6% | -6.2% |
Energy | 8.9% | 6.8% | 2.1% |
Financials | 19.5% | 23.5% | -3.9% |
Health Care | 3.9% | 2.7% | 1.3% |
Industrials | 3.7% | 5.2% | -1.5% |
Information Technology | 34.3% | 27.7% | 6.6% |
Materials | 10.7% | 7.4% | 3.3% |
Real Estate | 2.3% | 2.8% | -0.5% |
Telecommunication Services | 4.7% | 4.8% | -0.1% |
Utilities | 0.0% | 2.4% | -2.3% |
Total | 100.0% | 100.0% | 0.0% |
# of stocks | 316 |
Price Momentum | 0.61 |
EPS Growth (5 Year) | 16.68 |
P/B | 1.73 |
P/E (trailing 12 months) | 11.43 |
Median Market Cap ($MM) | 8830 |
Average Market Cap ($MM) | 104205 |
# of long holdings | 252 |
# of short holdings | 65 |
Long Exposure (% of NAV) | 128.81 % |
Short Exposure (% of NAV) | 29.56 % |
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.
Individual Investors | $5 Million |
Institutional Investors | $100,000 |
Fee-based Accounts Offered By Financial Advisors | None |
Sales Load | None |
Deferred Sales Load | None |
Redemption Fees | None |
Management Fee | 0.95 % |
Distribution (12b-1) Fee | None |
Acquired Fund Fees | 0.07 % |
Other Expenses | |
Dividends On Short Sales | None |
All Other Expenses | 2.87 % |
Gross Expenses | 3.89 % |
Less: Fee Waivers | 2.67 % |
Net Expenses | 1.22 % |
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 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.
NAV | Change | Daily Return |
---|---|---|
NAV | Change | Daily Return |
$13.82 | -$0.15 | -1.07% |
Using a systematic, multi-factor investment research process, the Fund develops a ranking of every stock in the investable universe. Based on these rankings, the Fund over- and underweights securities, industries, and sectors relative to the MSCI Emerging Index.
“Relaxed Constraint” reflects the Fund’s ability to take long and short positions in the equity securities in which it invests. The Fund invests approximately 130% of the portfolio’s assets long, and 30% short, targeting 100% net exposure to the market.
Selling securities short allows the Fund to reflect to a greater extent, compared to a long-only approach, the Manager’s views on securities it expects to underperform.
Reinvesting the short sale proceeds allows the Fund to take additional long positions, increasing the portfolio’s exposure to securities the Manager expects to outperform.
* The Adviser has contractually agreed until at least January 28, 2018 to waive its management fee and/or reimburse expenses of the Fund to the extent necessary to maintain the total annual fund operating expenses at the stated levels, exclusive of certain expenses such as acquired fund expenses and extraordinary expenses. Investment minimums are waived to fee-based advisors and certain other investors. See the Prospectus for additional details.
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.
Month | YTD | 1 Year | 3 Year | 5 Year | Since Inception | Inception Date | Gross Expense Ratio | Net Expense Ratio | |
---|---|---|---|---|---|---|---|---|---|
AQR Emerging Relaxed Constraint Equity Fund | -0.21% | 5.33% | 29.31% | 32.34% | 12/14/2016 | 4.23% | 1.47% | ||
MSCI Emerging | -1.99% | 1.28% | 24.76% | 28.09% | - | - | - |
Quarter | YTD | 1 Year | 3 Year | 5 Year | Since Inception | Inception Date | Gross Expense Ratio | Net Expense Ratio | |
---|---|---|---|---|---|---|---|---|---|
AQR Emerging Relaxed Constraint Equity Fund | 5.33% | 5.33% | 29.31% | 32.34% | 12/14/2016 | 4.23% | 1.47% | ||
MSCI Emerging | 1.28% | 1.28% | 24.76% | 28.09% | - | - | - |
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 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.
Emerging Relaxed Constraint Equity Fund | Benchmark | Fund-Index | |
---|---|---|---|
Brazil | 7.0% | 6.8% | 0.2% |
Chile | 1.7% | 1.3% | 0.5% |
China | 30.4% | 29.6% | 0.8% |
Colombia | 0.0% | 0.4% | -0.4% |
Czech Republic | 0.0% | 0.2% | -0.2% |
Egypt | 0.0% | 0.1% | -0.1% |
Greece | 0.0% | 0.3% | -0.3% |
Hong Kong | 0.0% | 0.1% | -0.1% |
Hungary | 0.1% | 0.3% | -0.2% |
India | 8.4% | 8.8% | -0.4% |
Indonesia | 2.2% | 2.2% | 0.0% |
Malaysia | 2.7% | 2.4% | 0.4% |
Mexico | 3.5% | 2.9% | 0.6% |
Pakistan | 0.0% | 0.1% | -0.1% |
Peru | 0.2% | 0.4% | -0.2% |
Philippines | 1.0% | 1.1% | -0.2% |
Poland | 1.8% | 1.3% | 0.5% |
Qatar | 0.1% | 0.6% | -0.4% |
Russia | 3.0% | 3.3% | -0.3% |
South Africa | 6.8% | 7.1% | -0.3% |
South Korea | 15.8% | 15.4% | 0.4% |
Taiwan | 11.1% | 11.3% | -0.2% |
Thailand | 2.4% | 2.3% | 0.1% |
Turkey | 1.6% | 1.1% | 0.5% |
United Arab Emirates | 0.1% | 0.6% | -0.6% |
Total | 100.0% | 100.0% | 0.0% |
Emerging Relaxed Constraint Equity Fund | Benchmark | Fund-Index | |
---|---|---|---|
Consumer Discretionary | 11.6% | 10.2% | 1.4% |
Consumer Staples | 0.4% | 6.6% | -6.2% |
Energy | 8.9% | 6.8% | 2.1% |
Financials | 19.5% | 23.5% | -3.9% |
Health Care | 3.9% | 2.7% | 1.3% |
Industrials | 3.7% | 5.2% | -1.5% |
Information Technology | 34.3% | 27.7% | 6.6% |
Materials | 10.7% | 7.4% | 3.3% |
Real Estate | 2.3% | 2.8% | -0.5% |
Telecommunication Services | 4.7% | 4.8% | -0.1% |
Utilities | 0.0% | 2.4% | -2.3% |
Total | 100.0% | 100.0% | 0.0% |
# of stocks | 316 |
Price Momentum | 0.61 |
EPS Growth (5 Year) | 16.68 |
P/B | 1.73 |
P/E (trailing 12 months) | 11.43 |
Median Market Cap ($MM) | 8830 |
Average Market Cap ($MM) | 104205 |
# of long holdings | 252 |
# of short holdings | 65 |
Long Exposure (% of NAV) | 128.81 % |
Short Exposure (% of NAV) | 29.56 % |
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.
Individual Investors | $1,000,000 |
Institutional Investors | None |
Fee-based Accounts Offered By Financial Advisors | None |
Sales Load | None |
Deferred Sales Load | None |
Redemption Fees | None |
Management Fee | 0.95 % |
Distribution (12b-1) Fee | 0.25 % |
Acquired Fund Fees | 0.07 % |
Other Expenses | |
Dividends On Short Sales | None |
All Other Expenses | 2.96 % |
Gross Expenses | 4.23 % |
Less: Fee Waivers | 2.76 % |
Net Expenses | 1.47 % |
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 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.
NAV | Change | Daily Return |
---|---|---|
NAV | Change | Daily Return |
$13.85 | -$0.15 | -1.07% |
Using a systematic, multi-factor investment research process, the Fund develops a ranking of every stock in the investable universe. Based on these rankings, the Fund over- and underweights securities, industries, and sectors relative to the MSCI Emerging Index.
“Relaxed Constraint” reflects the Fund’s ability to take long and short positions in the equity securities in which it invests. The Fund invests approximately 130% of the portfolio’s assets long, and 30% short, targeting 100% net exposure to the market.
Selling securities short allows the Fund to reflect to a greater extent, compared to a long-only approach, the Manager’s views on securities it expects to underperform.
Reinvesting the short sale proceeds allows the Fund to take additional long positions, increasing the portfolio’s exposure to securities the Manager expects to outperform.
* The Adviser has contractually agreed until at least January 28, 2018 to waive its management fee and/or reimburse expenses of the Fund to the extent necessary to maintain the total annual fund operating expenses at the stated levels, exclusive of certain expenses such as acquired fund expenses and extraordinary expenses. Investment minimums are waived to fee-based advisors and certain other investors. See the Prospectus for additional details.
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.
Month | YTD | 1 Year | 3 Year | 5 Year | Since Inception | Inception Date | Gross Expense Ratio | Net Expense Ratio | |
---|---|---|---|---|---|---|---|---|---|
AQR Emerging Relaxed Constraint Equity Fund | -0.21% | 5.48% | 29.81% | 32.83% | 12/14/2016 | 3.73% | 1.12% | ||
MSCI Emerging | -1.99% | 1.28% | 24.76% | 28.09% | - | - | - |
Quarter | YTD | 1 Year | 3 Year | 5 Year | Since Inception | Inception Date | Gross Expense Ratio | Net Expense Ratio | |
---|---|---|---|---|---|---|---|---|---|
AQR Emerging Relaxed Constraint Equity Fund | 5.48% | 5.48% | 29.81% | 32.83% | 12/14/2016 | 3.73% | 1.12% | ||
MSCI Emerging | 1.28% | 1.28% | 24.76% | 28.09% | - | - | - |
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 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.
Emerging Relaxed Constraint Equity Fund | Benchmark | Fund-Index | |
---|---|---|---|
Brazil | 7.0% | 6.8% | 0.2% |
Chile | 1.7% | 1.3% | 0.5% |
China | 30.4% | 29.6% | 0.8% |
Colombia | 0.0% | 0.4% | -0.4% |
Czech Republic | 0.0% | 0.2% | -0.2% |
Egypt | 0.0% | 0.1% | -0.1% |
Greece | 0.0% | 0.3% | -0.3% |
Hong Kong | 0.0% | 0.1% | -0.1% |
Hungary | 0.1% | 0.3% | -0.2% |
India | 8.4% | 8.8% | -0.4% |
Indonesia | 2.2% | 2.2% | 0.0% |
Malaysia | 2.7% | 2.4% | 0.4% |
Mexico | 3.5% | 2.9% | 0.6% |
Pakistan | 0.0% | 0.1% | -0.1% |
Peru | 0.2% | 0.4% | -0.2% |
Philippines | 1.0% | 1.1% | -0.2% |
Poland | 1.8% | 1.3% | 0.5% |
Qatar | 0.1% | 0.6% | -0.4% |
Russia | 3.0% | 3.3% | -0.3% |
South Africa | 6.8% | 7.1% | -0.3% |
South Korea | 15.8% | 15.4% | 0.4% |
Taiwan | 11.1% | 11.3% | -0.2% |
Thailand | 2.4% | 2.3% | 0.1% |
Turkey | 1.6% | 1.1% | 0.5% |
United Arab Emirates | 0.1% | 0.6% | -0.6% |
Total | 100.0% | 100.0% | 0.0% |
Emerging Relaxed Constraint Equity Fund | Benchmark | Fund-Index | |
---|---|---|---|
Consumer Discretionary | 11.6% | 10.2% | 1.4% |
Consumer Staples | 0.4% | 6.6% | -6.2% |
Energy | 8.9% | 6.8% | 2.1% |
Financials | 19.5% | 23.5% | -3.9% |
Health Care | 3.9% | 2.7% | 1.3% |
Industrials | 3.7% | 5.2% | -1.5% |
Information Technology | 34.3% | 27.7% | 6.6% |
Materials | 10.7% | 7.4% | 3.3% |
Real Estate | 2.3% | 2.8% | -0.5% |
Telecommunication Services | 4.7% | 4.8% | -0.1% |
Utilities | 0.0% | 2.4% | -2.3% |
Total | 100.0% | 100.0% | 0.0% |
# of stocks | 316 |
Price Momentum | 0.61 |
EPS Growth (5 Year) | 16.68 |
P/B | 1.73 |
P/E (trailing 12 months) | 11.43 |
Median Market Cap ($MM) | 8830 |
Average Market Cap ($MM) | 104205 |
# of long holdings | 252 |
# of short holdings | 65 |
Long Exposure (% of NAV) | 128.81 % |
Short Exposure (% of NAV) | 29.56 % |
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.
Individual Investors | Not Available |
Institutional Investors | $100,000 |
Fee-based Accounts Offered By Financial Advisors | Not Available for New Fund Investors |
Sales Load | None |
Deferred Sales Load | None |
Redemption Fees | None |
Management Fee | 0.95 % |
Distribution (12b-1) Fee | None |
Acquired Fund Fees | 0.07 % |
Other Expenses | |
Dividends On Short Sales | None |
All Other Expenses | 2.71 % |
Gross Expenses | 3.73 % |
Less: Fee Waivers | 2.61 % |
Net Expenses | 1.12 % |
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 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.
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.
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.
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