1. Is this an actively managed or passively managed fund? 2. What are the fees a
ID: 2613888 • Letter: 1
Question
1. Is this an actively managed or passively managed fund?
2. What are the fees associated with this fund?
3. Has the fund outperformed the Russell 2000?
AQR Small Cap Multi-Style Fund 12/31/2017 Performance as of 12/31/2017 About the Fund Annualized Total Return Since Inception Long term capital appreciation. Class I Shares: QSMLX Class N Shares: QSMNX Class R6 Shares: QSERX RUSSELL 2000 Index 1.89% 1.85% 1.98% 3.34% 9 9.07% 9.4 9.07% 9.46% 14.65% (03/26/2013) 12.14% 11.85% 12.26% 12.12% Reasons to Invest Seeks to outperform the Russell 2000 Index of U.S. small-cap stocks. 8.25% N/A 14.65% 9.96% As of the latest Prospectus, the gross expense ratios for the Class I. Class N and Class R Shares are expected to be 0.76% 1.00% and 0.63%, respectively. See Fund Facts below for net expense ratios. The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Call 1-866-290-2688 or visit www.aqrfunds.com for current month-end performance. Performance shown prior to a share class's inception date reflects the historical performance of the Fund's Class shares, calculated using the fees and expenses of the Class N or Class R6 shares, respectively investment styles: value, momentum By diversifying across three distinct investment styles, the Fund seeks to Top Ten Securit Small Cap RUSSELL Multi-Style 2000 Fund % of Net Asset Sanderson Farms Natl Beverage MGIC Investment Systematic, Repeatable Process Style investing is a systematic, repeatable process that seeks to efficiently harvest the returns to value, 15.5% 5.1% 1.3% 19.1% 13.6% 16.5% 16.5% 3.9% 6.6% 0.3% 1.5% 100.0% 12.6% 2.8% 4.0% 17.8% 15.3% 15.4% 16.6% 4.6% 6.7% 0.8% 3.5% 100.0% 3.0% 2.3% -2.7% 1.3% -1.8% 1.1% -0.1% -0.6% -0.1% -0.4% 2.0% Consumer Staples Health Care Cooper Stand Adtalem Glo Edu Total Fund Acadenic Research Foundation Decades of academic and practitioner research have shown that investing in stocks based on value, momentum and Real Estate Services profitability may provide returns in excess of market benchmarks. Utilities Total E Index holdings are subject to change and should not be considered a recommendation to buy or sell securities. Customized liquidity-providing algorithms help minimize transaction costs. Small Cap RUSSELL Small Cap Fund 2000 Index 514 0.37 Median Market Cap (MM Average Market Cap (sMM Total Fund Assets (SMM) AQR senior management has beern style-based portfolios since the mid 1,981 Price Momentum EPS Growth (5 Year) 8.25 2.32 Portfolio holdings are subject to change and should not be considered a recommendation to buy or sell securities. Portfolio statistic definitions on following pages. P/E (trailing 12 months 16.97 22.74 Net E Class I Shares QSMLX QSMNX RX 00203H487 00203H479 00203H297 #5 Million $1 Million $100,000 N Shares 0.91% 3/26/13 7/10/14 Class R6 Shares investment minimums are waived to fee-based advisors and certain other investors. See the Prospectus for additional details to maintain the total annual fund "As reported in the most recent Prospectus. The Adviser has contractually more than 0.65% for Class! Shares 0.90% for Class N Shares and 0.55% for Class R6 Shares 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 aequired fund fees and extraordinary expenses See the Prospectus for additional details expenses at noExplanation / Answer
1. The AQR small cap multi-style fund is a passively managed fund as it follows a market index and is not actively managed to outperform the Russell 2000 index.
2. The fees associated with this fund will be gauged using its expense ratio. The gross expense ratio for Class I shares is 0.76%, for Class N shares is 1.00% and for class R6 shares is 0.63%.
3. The fund has not outperformed the Russell 2000 on a year-to-date basis, 1 year basis and 3 year basis. Since its inception, however, the fund has outperformed the Russell 2000.
4. The fund’s past performance cannot be taken as an indicator of its future performance. The past performance indicates that it has not been able to outperform the Russell 2000 on a year-to-date basis, 1 year basis and 3 year basis but this can change in future.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.