Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
AQR Global Equity Fund
mutual fund
AQGIX
Payout Change
Pending
Price as of:
$12.13
+0.11
+0.92%
primary theme
N/A
share class
AQGIX (Mutual Fund)
AQR Global Equity Fund
Payout Change
Pending
Price as of:
$12.13
+0.11
+0.92%
primary theme
N/A
share class
AQGIX (Mutual Fund)
AQR Global Equity Fund
Payout Change
Pending
Price as of:
$12.13
+0.11
+0.92%
primary theme
N/A
share class
Name
As of 11/29/2024Price
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
Vitals
YTD Return
27.0%
1 yr return
31.4%
3 Yr Avg Return
12.3%
5 Yr Avg Return
12.2%
Net Assets
$353 M
Holdings in Top 10
27.6%
52 WEEK LOW AND HIGH
$12.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.84%
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 11/29/2024Price
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
AQGIX - Profile
Distributions
- YTD Total Return 27.0%
- 3 Yr Annualized Total Return 12.3%
- 5 Yr Annualized Total Return 12.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.28%
- Dividend Yield 2.3%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameAQR Global Equity Fund
-
Fund Family NameAQR Funds
-
Inception DateDec 31, 2009
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Liew
Fund Description
The Fund seeks to outperform, after expenses, the MSCI World Index (the Global Equity Benchmark) while seeking to control its tracking error relative to this benchmark. While the Adviser expects that the Fund’s targeted annualized forecasted tracking error will typically range between 3-5% relative to the Global Equity Benchmark; the Adviser may, on occasion, tactically target a level of tracking error outside of this range. The actual or realized tracking error level for longer or shorter periods may be materially higher or lower depending on market conditions, sector positioning, securities selection and other factors. Higher tracking error generally indicates higher market risk. Actual or realized tracking error can and will differ from the forecasted or target tracking error described above.Generally, the Fund will invest in instruments of companies located in a number of different countries throughout the world, one of which will be the United States. Under normal circumstances, the Fund will invest at least 40% of its assets in non-U.S. companies. Notwithstanding the previous sentence, if the weighting of non-U.S. companies in the Global Equity Benchmark drops below 45%, the Fund may invest a lower amount in non-U.S. companies, which will normally be such that the minimum level for non-U.S. companies will be 5% below the weighting of non-U.S. companies in the Global Equity Benchmark as of the end of the prior business day (or, if such information is unavailable, the most recently published composition). The Fund will allocate its assets among various regions and countries, including the United States (but in no less than three different countries outside of the U.S.).The Adviser uses a set of value, momentum and other factors to generate an investment portfolio based on the Adviser’s global asset allocation models and security selection procedures. The Adviser believes that a better risk-adjusted return may be achievable by employing a multi-factor strategy that may incorporate value, momentum, and other strategies simultaneously.•Value strategies favor securities that appear cheap based on fundamental measures. Examples of value measures include using price-to-earnings and price-to-book ratios for choosing individual equities and countries, and purchasing power parity for choosing currencies.•Momentum strategies favor securities with measures of strong recent performance. Examples of momentum measures include simple price momentum for choosing individual equities and countries, and foreign exchange rate momentum for selecting currencies.•In addition to these two main strategies, the Adviser may use a number of additional quantitative strategies based on the Adviser’s proprietary research. These may include, but are not limited to, quality strategies (which favor stable companies in good business health, including those with strong profitability and stable earnings) and sentiment strategies (which favor companies favored by high-conviction investors or companies whose management is acting in shareholder-friendly ways).In seeking to achieve its investment objective, the Fund may enter into both “long” and “short” positions in equity indexes and currencies using derivative instruments. The owner of a “long” position in a derivative instrument will benefit from an increase in the price of the underlying investment. The owner of a “short” position in a derivative instrument will benefit from a decrease in the price of the underlying investment.Generally, the Fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in equity and equity-related instruments (including, but not limited to, exchange-traded funds, equity index futures, equity index swaps, swaps on equity index futures, depositary receipts, and real estate investment trusts ("REITs") or REIT-like entities). The Fund will invest in companies with a broad range of market capitalizations. The Fund has no market capitalization constraints. The Fund invests primarily in securities comprising the Global Equity Benchmark and also invests to some extent in securities outside the Global Equity Benchmark which the Adviser deems to have similar investment characteristics to the securities comprising the Global Equity Benchmark. The Fund may invest in or use rights, warrants, equity swaps, financial futures contracts, swaps on futures contracts, forward foreign currency contracts and other types of derivative instruments in seeking to achieve its investment objective. A portion of the Fund’s assets may be held in cash or cash equivalents including, but not limited to, money market instruments, interests in short-term investment funds or shares of money market or short-term bond funds. However, under normal market conditions net economic exposure to the equity markets (i.e. the total value of equity positions plus the net notional value of equity derivatives) will generally equal at least 95% of the Fund’s net assets.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.
Read More
AQGIX - Performance
Return Ranking - Trailing
| Period | AQGIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 27.0% | -35.6% | 29.2% | 17.90% |
| 1 Yr | 31.4% | 17.3% | 252.4% | 50.00% |
| 3 Yr | 12.3%* | -3.5% | 34.6% | 82.36% |
| 5 Yr | 12.2%* | 0.1% | 32.7% | 69.66% |
| 10 Yr | 8.7%* | -6.9% | 18.3% | 58.07% |
* Annualized
Return Ranking - Calendar
| Period | AQGIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 15.9% | -24.3% | 957.1% | 66.78% |
| 2022 | -17.8% | -38.3% | 47.1% | 52.84% |
| 2021 | 5.3% | -54.2% | 0.6% | 76.31% |
| 2020 | 8.1% | -76.0% | 54.1% | 49.19% |
| 2019 | 20.9% | -26.1% | 47.8% | 89.15% |
Total Return Ranking - Trailing
| Period | AQGIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 27.0% | -35.6% | 29.2% | 18.57% |
| 1 Yr | 31.4% | 11.4% | 252.4% | 46.14% |
| 3 Yr | 12.3%* | -3.5% | 34.6% | 80.29% |
| 5 Yr | 12.2%* | 0.1% | 32.7% | 67.92% |
| 10 Yr | 8.7%* | -6.9% | 18.3% | 56.03% |
* Annualized
Total Return Ranking - Calendar
| Period | AQGIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 22.9% | -24.3% | 957.1% | 66.78% |
| 2022 | -14.1% | -33.1% | 47.1% | 53.22% |
| 2021 | 18.2% | -44.4% | 1.8% | 83.04% |
| 2020 | 9.3% | -6.5% | 54.1% | 30.31% |
| 2019 | 22.6% | -14.4% | 47.8% | 21.85% |
NAV & Total Return History
AQGIX - Holdings
Concentration Analysis
| AQGIX | Category Low | Category High | AQGIX % Rank | |
|---|---|---|---|---|
| Net Assets | 353 M | 199 K | 133 B | 55.81% |
| Number of Holdings | 754 | 1 | 9075 | 6.72% |
| Net Assets in Top 10 | 108 M | -18 M | 37.6 B | 59.14% |
| Weighting of Top 10 | 27.62% | 9.1% | 100.0% | 10.53% |
Top 10 Holdings
- Limited Purpose Cash Investment Fund 7.59%
- NVIDIA Corp. 4.15%
- Apple, Inc. 3.16%
- Microsoft Corp. 2.84%
- Goldman Sachs Financial Square Funds - Treasury Instruments Fund, Institutional Shares 2.14%
- Amazon.com, Inc. 2.04%
- Exxon Mobil Corp. 1.57%
- Meta Platforms, Inc., Class A 1.40%
- Broadcom, Inc. 1.39%
- Eli Lilly Co. 1.34%
Asset Allocation
| Weighting | Return Low | Return High | AQGIX % Rank | |
|---|---|---|---|---|
| Stocks | 86.94% | 61.84% | 125.47% | 32.49% |
| Cash | 12.48% | -174.70% | 23.12% | 99.67% |
| Other | 0.41% | -13.98% | 19.14% | 0.88% |
| Preferred Stocks | 0.17% | -0.01% | 5.28% | 99.89% |
| Convertible Bonds | 0.00% | 0.00% | 4.46% | 73.90% |
| Bonds | 0.00% | -1.50% | 161.67% | 74.56% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | AQGIX % Rank | |
|---|---|---|---|---|
| Financial Services | 18.79% | 0.00% | 38.42% | 73.79% |
| Technology | 18.63% | 0.00% | 49.87% | 21.15% |
| Healthcare | 11.89% | 0.00% | 35.42% | 81.94% |
| Consumer Cyclical | 11.46% | 0.00% | 40.94% | 24.89% |
| Industrials | 9.77% | 0.00% | 44.06% | 33.81% |
| Energy | 9.48% | 0.00% | 21.15% | 55.18% |
| Consumer Defense | 6.08% | 0.00% | 73.28% | 60.68% |
| Basic Materials | 4.96% | 0.00% | 38.60% | 5.73% |
| Communication Services | 4.17% | 0.00% | 57.66% | 83.37% |
| Utilities | 2.84% | 0.00% | 29.12% | 32.27% |
| Real Estate | 1.92% | 0.00% | 39.48% | 35.02% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | AQGIX % Rank | |
|---|---|---|---|---|
| US | 62.35% | 0.13% | 103.82% | 12.33% |
| Non US | 24.58% | 0.58% | 99.46% | 87.67% |
AQGIX - Expenses
Operational Fees
| AQGIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.84% | 0.01% | 44.27% | 78.68% |
| Management Fee | 0.60% | 0.00% | 1.82% | 30.85% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | 8.26% |
| Administrative Fee | N/A | 0.01% | 0.76% | N/A |
Sales Fees
| AQGIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| AQGIX 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.
| AQGIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 395.00% | 86.81% |
AQGIX - Distributions
Dividend Yield Analysis
| AQGIX | Category Low | Category High | AQGIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.32% | 0.00% | 3.26% | 73.30% |
Dividend Distribution Analysis
| AQGIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Annually | Annually |
Net Income Ratio Analysis
| AQGIX | Category Low | Category High | AQGIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.28% | -4.27% | 12.65% | 50.00% |
Capital Gain Distribution Analysis
| AQGIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 18, 2023 | $0.281 | OrdinaryDividend |
| Dec 18, 2023 | $0.262 | CapitalGainShortTerm |
| Dec 18, 2023 | $0.027 | CapitalGainLongTerm |
| Dec 19, 2022 | $0.362 | OrdinaryDividend |
| Dec 23, 2021 | $1.219 | OrdinaryDividend |
| Dec 22, 2020 | $0.111 | OrdinaryDividend |
| Dec 23, 2019 | $0.124 | OrdinaryDividend |
| Dec 19, 2018 | $0.000 | CapitalGainShortTerm |
| Dec 19, 2018 | $0.209 | CapitalGainLongTerm |
| Dec 19, 2018 | $0.134 | OrdinaryDividend |
| Dec 20, 2017 | $0.200 | CapitalGainShortTerm |
| Dec 20, 2017 | $0.170 | CapitalGainLongTerm |
| Dec 20, 2017 | $0.080 | OrdinaryDividend |
| Dec 20, 2016 | $0.594 | CapitalGainLongTerm |
| Dec 20, 2016 | $0.178 | OrdinaryDividend |
| Dec 21, 2015 | $0.007 | OrdinaryDividend |
| Dec 19, 2014 | $0.098 | CapitalGainShortTerm |
| Dec 19, 2014 | $0.753 | CapitalGainLongTerm |
| Dec 19, 2014 | $0.148 | OrdinaryDividend |
| Dec 20, 2013 | $2.065 | CapitalGainShortTerm |
| Dec 20, 2013 | $3.249 | CapitalGainLongTerm |
| Dec 20, 2013 | $0.391 | OrdinaryDividend |
| Dec 14, 2012 | $0.235 | CapitalGainLongTerm |
| Dec 14, 2012 | $0.287 | OrdinaryDividend |
| Dec 16, 2011 | $0.093 | CapitalGainShortTerm |
| Dec 16, 2011 | $0.039 | CapitalGainLongTerm |
| Dec 16, 2011 | $0.106 | OrdinaryDividend |
| Dec 17, 2010 | $0.358 | OrdinaryDividend |
| Dec 17, 2010 | $0.022 | CapitalGainShortTerm |
| Dec 17, 2010 | $0.054 | CapitalGainLongTerm |
AQGIX - Fund Manager Analysis
Managers
John Liew
Start Date
Tenure
Tenure Rank
Dec 31, 2009
12.42
12.4%
Dr. Liew is a Founder and the head of the Global Asset Allocation team at of AQR, overseeing the research, portfolio management and trading associated with that strategy. Prior to AQR, he worked at Goldman, Sachs & Co. as a portfolio manager in the Asset Management Division where he developed and managed quantitative trading strategies. Dr. Liew began his career at Trout Trading, developing quantitative market-neutral stock-selection strategies. Dr Liew has published articles in The Journal of Portfolio Management and Financial Analysts Journal, and has received the Bernstein Fabozzi/Jacobs Levy award and the Graham and Dodd award for his articles. Dr. Liew is a member of the University of Chicago’s Board of Trustees and sits on the university’s investment committee. Dr Liew earned a B.A. in economics, an M.B.A. and a Ph.D. in finance from Chicago.
Clifford Asness
Start Date
Tenure
Tenure Rank
Dec 31, 2009
12.42
12.4%
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.
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.
Andrea Frazzini
Start Date
Tenure
Tenure Rank
Jan 01, 2020
2.41
2.4%
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.
Jordan Brooks
Start Date
Tenure
Tenure Rank
Jan 01, 2022
0.41
0.4%
Jordan Brooks is a Principal at AQR Capital Management, where he is the Co-Head of the Macro Strategies Group. In this role, he oversees equity index, fixed income, currency, and risk parity research, and is a portfolio manager for the firm’s risk parity, global macro, and multi-strategy portfolios. Jordan is also a Lecturer in Management at Yale University and an Adjunct Professor of Finance at New York University. He has published numerous articles on fixed income, global macro, and the intersection of asset pricing and macroeconomics. Prior to joining AQR, Jordan was a teaching fellow in the economics department at New York University, and a dissertation intern in the division of monetary affairs at the Federal Reserve Board of Governors and in the capital markets group at the Federal Reserve Bank of New York. Jordan earned a B.A. in economics and mathematics from Boston College, and an M.A. and Ph.D., both in economics, from New York University.
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 |
|---|---|---|---|
| 0.01 | 35.82 | 6.24 | 1.25 |
