Fund Evaluator:
AQR Large Cap Multi-Style R6 (QCERX)
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Best Performing in Large Blend Over the Last Year
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Fund Details
AQR Large Cap Multi-Style R6 Overview
AQR Large Cap Multi-Style R6 (QCERX) is an actively managed U.S. Equity Large Blend fund. AQR Funds launched the fund in 2014.
The investment seeks long-term capital appreciation. 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 securities (including, but not limited to, exchange-traded funds, equity index futures, equity swaps, equity index swaps and real estate investment trusts or REIT like entities) of large-cap companies. It generally invests in large-cap U.S. companies, which the Adviser generally considers to be those companies with market capitalizations within the range of the Russell 1000® Index at the time of purchase.
About AQR Large Cap Multi-Style R6 (QCERX)
There are 4 members of the management team with an average tenure of 6.94 years: John Huss (2022), Michele Aghassi (2020), Laura Serban (2023), Clifford Asness (2013). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Russell 1000 TR USD index with a weighting of 100%. AQR Large Cap Multi-Style R6 has 238 securities in its portfolio. The top 10 holdings constitute 32.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
AQR Large Cap Multi-Style R6 is part of the Equity global asset class and is within the U.S. Equity fund group. AQR Large Cap Multi-Style R6 has 1.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 93.5%. There is 1.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). AQR Large Cap Multi-Style R6 has 0.6% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is below the $6 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
QCERX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The AQR Large Cap Multi-Style R6 expense ratio is above average compared to funds in the Large Blend category. AQR Large Cap Multi-Style R6 has an expense ratio of 0.78%, which is 4% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. AQR Large Cap Multi-Style R6 has a portfolio turnover rate of 56%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 48% for the Large Blend category.
Recently, in the month of July 2026, AQR Large Cap Multi-Style R6 returned 1.9%, which earned it a grade of A, as the Large Blend category had an average return of 0.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
AQR Large Cap Multi-Style R6 has a trailing yield of 1.17%, which is above the 0.56% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
AQR Large Cap Multi-Style R6 Grades
Year to date, the fund has returned 18.9%, 9.6 percentage points better than the category, which translates into a grade of A. The fund has returned 31.6% over the past year (grade of A), 24.1% over the past three years (grade of A) and 15.7% per year over the past five years (grade of A) and 15.2% per year over the past 10 years (grade of A).
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QCERX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| QCERX Return (NAV) | 1.9% | 7.9% | 31.6% | 24.1% | 15.7% | 15.2% |
| QCERX Grade | A | A | A | A | A | A |
| +/- Category | 1.5% | 3.8% | 14.2% | 6.8% | 4.6% | 1.5% |
| Large Blend Avg | 0.4% | 4.1% | 17.5% | 17.3% | 11.1% | 13.7% |
| QCERX Tax Cost Ratio | na | na | 3.3% | 3.1% | 3.1% | 2.3% |
QCERX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| QCERX Return (NAV) | 18.9% | 23.7% | 23.1% | 26.3% | -15.6% | 27.2% | 15.0% | 24.4% | -10.8% | 24.4% | 7.2% |
| QCERX Grade | A | A | C | B | B | C | D | F | F | A | F |
| +/- Category | 9.6% | 7.8% | 1.0% | 2.6% | 1.7% | 0.7% | -2.5% | -5.4% | -4.9% | 3.1% | -3.0% |
| Large Blend Avg | 9.3% | 15.8% | 22.1% | 23.7% | -17.3% | 26.5% | 17.5% | 29.8% | -5.9% | 21.3% | 10.2% |
| Risk Measures | |
| Standard Deviation: | 13.3% |
| Total Risk Index: | 1.09 - Above Average |
| Category Risk Index: | 1.00 - Above Average |
| Category Risk Grade: | D (60% Rank) |
| Beta: | 0.98 |
| R-Squared: | 93% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 1.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1944 Mil |
| Fund Total Assets: | $1,214 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 56% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 13.4 years | |||
| Average Tenure: 6.9 years | |||
| Managers (Year): Asness Clifford (2013), Aghassi Michele (2020), Huss John (2022), Serban Laura (2023) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 238 |
| % in Top 10 Holdings: | 32.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.5% |
Portfolio Allocation |
|
| Domestic Stock: | 93.5% |
| Foreign Stock: | 1.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 4.4% |
| Cash: | 0.6% |
Purchase Information
| Fund Family: | AQR Funds |
| Phone Number: | 866-290-2688 |
| Website: | www.aqrfunds.com |
| Status: | Open |
| Inception Date: | July 10, 2014 |
| Min. Initial Purchase: | $50,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.78% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.81% |
| Share Class: | AQR Large Cap Multi-Style I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
