Continue to site >
Trending ETFs

Name

As of 03/25/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.01

$501 M

5.39%

$0.54

0.77%

Vitals

YTD Return

4.6%

1 yr return

15.9%

3 Yr Avg Return

-3.6%

5 Yr Avg Return

2.9%

Net Assets

$501 M

Holdings in Top 10

24.6%

52 WEEK LOW AND HIGH

$10.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.77%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/25/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.01

$501 M

5.39%

$0.54

0.77%

QTELX - Profile

Distributions

  • YTD Total Return 4.6%
  • 3 Yr Annualized Total Return -3.6%
  • 5 Yr Annualized Total Return 2.9%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.68%
DIVIDENDS
  • Dividend Yield 5.4%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    AQR Emerging Multi-Style II Fund
  • Fund Family Name
    AQR Funds
  • Inception Date
    Feb 11, 2015
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Clifford Asness

Fund Description

The Fund pursues its investment objective by investing, under normal market conditions, at least 80% of its net assets (including borrowings for investment purposes) in equity or equity-related instruments (including, but not limited to, exchange-traded funds, equity index futures, equity index swaps, depositary receipts, and real estate investment trusts ("REITs") or REIT-like entities) of emerging market companies.The Fund combines multiple investment styles, primarily including value, momentum and quality, using an integrated approach. In managing the Fund, the Adviser seeks to invest in attractively valued companies with positive momentum and stable businesses. Companies are considered to be attractive value investments if they appear cheap based on multiple fundamental measures, including price-to-book and price-to-earnings ratios relative to other securities in its relevant universe at the time of purchase. In assessing positive momentum, the Adviser favors securities with strong medium-term performance relative to other securities in its relevant universe at the time of purchase. Further, the Adviser favors stable companies in sound business health, including those with strong profitability and stable earnings. The Adviser may add to or modify the economic factors employed in selecting securities. There is no guarantee that the Fund’s objective will be met.A company will be considered to be an emerging market company if it is located in a country represented in the MSCI Emerging Markets Index at the time of purchase. Equity-related instruments include instruments that provide exposure to the change in value of an emerging market company. The Fund may also invest in, and have exposure to, non-emerging market companies if the Adviser considers it advisable to achieve the Fund’s investment objective.The Fund generally invests in large- and mid-cap companies, which the Adviser generally considers to be those companies with market capitalizations within the range of the MSCI Emerging Markets Index at the time of purchase. Although the Fund does not limit its investments to any one country, the Fund may invest in any one country without limit.The Adviser determines the weight of each security in the portfolio using a combination of its assessment of the liquidity of the security, the attractiveness of the security based on each factor described above and additional criteria that form part of the Adviser’s security selection process. The Adviser utilizes portfolio optimization techniques to determine trading activity, taking into account both anticipated transaction costs and potential tax consequences associated with trading each equity instrument.When selecting securities for the portfolio, the Adviser will employ tax management strategies which consider the potential impact of federal income tax on shareholders’ investment return. These tax management strategies are generally designed to both (i) reduce the Fund’s overall realization of capital gains, and (ii) minimize the Fund’s realized short-term capital gains as a percentage of the Fund’s total realized capital gains (both long-term and short term), as compared to funds that do not take tax consequences into account. Investors should not expect that there will be no capital gain distributions or that the Fund’s short-term capital gains distributions will necessarily be less than its long-term capital gains distributions, however, as the Fund will balance investment considerations with tax consequences in making investment decisions and the Fund may not employ these tax management strategies at all times. The techniques that may be used to attempt to reduce the impact of federal income tax on shareholders’ investment returns include:when believed by the Adviser to be appropriate, selling stocks to realize losses, with the specific purpose of offsetting gains;deferring realizations of net capital gains;limiting portfolio turnover that may result in taxable gains; andchoosing a tax accounting method that reduces tax liability: for example, using the highest-in, first-out (HIFO) method which sells tax lots of securities that have a higher tax basis before selling tax lots of securities that have a lower tax basis.The Fund invests significantly in common stocks. The Fund may also invest in or use financial futures contracts, forward foreign currency contracts and other types of equity-linked derivative instruments such as equity swaps and equity index swaps, as well as exchange-traded-funds and similar pooled investment vehicles, to gain exposure to the equity market and to maintain liquidity to pay for redemptions. A portion of the Fund’s assets may be held in cash or cash-equivalent investments, including, but not limited to, short-term investment funds.
Read More

QTELX - Performance

Return Ranking - Trailing

Period QTELX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.6% -5.9% 14.1% 14.96%
1 Yr 15.9% -6.8% 41.8% 23.85%
3 Yr -3.6%* -22.5% 9.1% 29.56%
5 Yr 2.9%* -7.1% 11.5% 41.77%
10 Yr N/A* -2.2% 6.9% N/A

* Annualized

Return Ranking - Calendar

Period QTELX Return Category Return Low Category Return High Rank in Category (%)
2023 6.5% -6.5% 35.5% 70.04%
2022 -24.8% -50.1% -2.4% 56.47%
2021 -1.5% -33.1% 22.5% 29.66%
2020 15.1% -22.1% 80.1% 59.29%
2019 11.7% -0.7% 42.0% 89.00%

Total Return Ranking - Trailing

Period QTELX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.6% -5.9% 14.1% 14.96%
1 Yr 15.9% -6.8% 41.8% 23.85%
3 Yr -3.6%* -22.5% 9.1% 29.56%
5 Yr 2.9%* -7.1% 11.5% 41.77%
10 Yr N/A* -2.2% 6.9% N/A

* Annualized

Total Return Ranking - Calendar

Period QTELX Return Category Return Low Category Return High Rank in Category (%)
2023 12.6% -2.7% 42.0% 35.22%
2022 -21.3% -42.2% 1.9% 36.02%
2021 0.9% -32.5% 33.1% 37.89%
2020 16.9% -20.0% 81.6% 57.45%
2019 14.3% 2.3% 42.0% 89.79%

NAV & Total Return History


QTELX - Holdings

Concentration Analysis

QTELX Category Low Category High QTELX % Rank
Net Assets 501 M 653 K 96.1 B 49.47%
Number of Holdings 287 10 6829 23.07%
Net Assets in Top 10 118 M 299 K 17.9 B 52.80%
Weighting of Top 10 24.64% 2.9% 122.2% 76.90%

Top 10 Holdings

  1. Taiwan Semiconductor Manufacturing Co. Ltd. 6.23%
  2. Samsung Electronics Co. Ltd. 3.21%
  3. Tencent Holdings Ltd. 3.06%
  4. Limited Purpose Cash Investment Fund 2.25%
  5. Petroleo Brasileiro SA (Preference) 2.16%
  6. China Construction Bank Corp., Class H 1.96%
  7. Kia Corp. 1.57%
  8. Alibaba Group Holding Ltd. 1.52%
  9. Banco do Brasil SA 1.34%
  10. Coal India Ltd. 1.34%

Asset Allocation

Weighting Return Low Return High QTELX % Rank
Stocks
92.87% 0.00% 103.65% 82.53%
Cash
4.97% -2.03% 20.51% 13.07%
Preferred Stocks
2.16% 0.00% 10.17% 24.00%
Convertible Bonds
0.00% 0.00% 7.40% 16.24%
Bonds
0.00% 0.00% 94.30% 27.07%
Other
0.00% -1.64% 50.31% 95.20%

Stock Sector Breakdown

Weighting Return Low Return High QTELX % Rank
Technology
22.72% 0.00% 47.50% 45.07%
Financial Services
18.10% 0.00% 48.86% 74.36%
Basic Materials
14.82% 0.00% 30.03% 4.18%
Consumer Cyclical
10.45% 0.00% 48.94% 73.82%
Communication Services
7.87% 0.00% 39.29% 61.13%
Industrials
6.80% 0.00% 43.53% 39.41%
Consumer Defense
5.66% 0.00% 25.90% 62.21%
Energy
4.51% 0.00% 24.80% 47.10%
Healthcare
4.37% 0.00% 16.53% 39.27%
Utilities
3.14% 0.00% 39.12% 19.57%
Real Estate
1.56% 0.00% 17.15% 52.23%

Stock Geographic Breakdown

Weighting Return Low Return High QTELX % Rank
Non US
80.97% 0.00% 100.18% 63.33%
US
11.90% 0.00% 101.58% 44.53%

QTELX - Expenses

Operational Fees

QTELX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.77% 0.03% 24.48% 85.41%
Management Fee 0.50% 0.00% 2.00% 10.28%
12b-1 Fee N/A 0.00% 1.00% 2.01%
Administrative Fee N/A 0.01% 0.85% N/A

Sales Fees

QTELX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

QTELX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

QTELX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 189.00% 63.86%

QTELX - Distributions

Dividend Yield Analysis

QTELX Category Low Category High QTELX % Rank
Dividend Yield 5.39% 0.00% 9.90% 4.53%

Dividend Distribution Analysis

QTELX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Annual Annual

Net Income Ratio Analysis

QTELX Category Low Category High QTELX % Rank
Net Income Ratio 2.68% -1.98% 17.62% 8.16%

Capital Gain Distribution Analysis

QTELX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

QTELX - Fund Manager Analysis

Managers

Clifford Asness


Start Date

Tenure

Tenure Rank

Feb 11, 2015

7.3

7.3%

Dr. Asness is a Founder, Managing Principal and Chief Investment Officer at AQR Capital Management. He is an research notable for its relevance and enduring value to investment professionals. Prior to co-founding AQR Capital Management, he was a Managing Director and Director of Quantitative Research for the Asset Management Division of Goldman, Sachs & Co. Dr. Asness is on the editorial board of The Journal of Portfolio Management, the governing board of the Courant Institute of Mathematical Finance at NYU, the Board of Directors of the Q-Group.

Andrea Frazzini


Start Date

Tenure

Tenure Rank

Feb 11, 2015

7.3

7.3%

Andrea Frazzini is a Principal at AQR Capital Management, where he is the Head of our Global Stock Selection team. He is also an Adjunct Professor of Finance at New York University’s Stern School of Business. He has published in top academic journals and won several awards for his research, including the Smith Breeden Award, the Fama-DFA Prize, the BGI Michael Brennan Award, several Bernstein Fabozzi/Jacobs Levy Awards and the PanAgora Crowell Memorial Prize. Prior to joining AQR, Andrea was an associate professor of finance at the University of Chicago’s Graduate School of Business and a Research Associate at the National Bureau of Economic Research. He also served as a consultant for DKR Capital Partners and J.P. Morgan Securities and was on the board of directors of the Center for Research in Security Prices at the University of Chicago. He earned a B.S. in economics from the University of Roma Tre, an M.S. in economics from the London School of Economics and a Ph.D. in economics from Yale University.

Lars Nielsen


Start Date

Tenure

Tenure Rank

Jan 01, 2020

2.41

2.4%

Nielsen is a Principal of AQR Capital Management. Mr. Nielsen joined AQR in 2000 and currently serves as the co-head of portfolio management, research, risk and trading. He earned a B.Sc. and an M.Sc. in economics from the University of Copenhagen. Prior to joining the Adviser in 2000, he was an Analyst in the Quantitative Research Group of Danske Invest.

Michele Aghassi


Start Date

Tenure

Tenure Rank

Jan 01, 2020

2.41

2.4%

Michele Aghassi is a Principal at AQR Capital Management, where she serves as a portfolio manager for the firm's equity strategies. Throughout her tenure at AQR, she has been a leader in research and strategy development, contributing to the advancement of the stock selection investment process. She played a key role in launching the firm’s emerging equities strategy in 2008 and developed the proprietary robust optimization technology that AQR uses to build portfolios. In addition to her responsibilities at AQR, she serves on the Editorial Advisory Board of The Journal of Portfolio Management. Earlier in her career, Michele worked as a quantitative analyst in the proprietary equities department of D.E. Shaw & Co. Michele graduated magna cum laude from Brown University with a B.Sc. in applied mathematics and subsequently earned a Ph.D. in operations research from the Massachusetts Institute of Technology, where she was a National Science Foundation Graduate Research Fellow and an MIT Presidential Graduate Fellow.

John Huss


Start Date

Tenure

Tenure Rank

Jan 01, 2022

0.41

0.4%

John J. Huss, Principal, rejoined AQR in 2013 and oversees multi-asset class strategies as a researcher and portfolio manager. Mr. Huss rejoined the AQR Capital Management in 2013 and is a portfolio manager for the firm’s World Allocation strategy where he focuses on macroeconomic and portfolio construction research for risk parity and other asset allocation strategies. Prior to rejoining the firm, where he first worked from 2004 to 2008, Mr. Huss was a vice president in RBC’s Global Arbitrage and Trading division and a systematic portfolio manager for Tudor Investment Corp. Mr. Huss earned a B.S. in mathematics from the Massachusetts Institute of Technology.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 33.71 6.53 13.42