AQINX — AQR International Equity Fund
Data updated: 2023-02-27
AQINX — AQR International Equity Fund. Money Market · $14.64M AUM · 1.11% expense ratio · -13.7% 1-yr return. Holdings, fees, performance and SEC filings.
AQINX Fund Overview
AQINX — AQR International Equity Fund is a US mutual fund managed by AQR Funds, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: AQR Funds
- Category: Money Market
- Assets under management: $14.64M
- 1-year return: -13.7%
- Ticker: AQINX
- SEC CIK: 0001444822
- SEC series ID: S000024171
- Share class ID: C000070952
AQINX Investment Objective and Strategy
AQR International Equity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by AQR Funds.
Investment objective
The AQR International Equity Fund (the “Fund”) seeks long-term capital appreciation.
Principal investment strategy
The Fund seeks to outperform, after expenses, the MSCI EAFE Index (the International Equity Benchmark) while seeking to control its tracking error relative to this benchmark. The Fund will target a forecasted tracking error generally in the range of 3-7% relative to the International Equity Benchmark over a long-term business cycle, but actual tracking error will vary based on market conditions, sector positioning, securities selection and other factors. The International Equity Benchmark is a free float-adjusted market capitalization index that is designed to measure the performance of equities in developed markets, excluding the United States and Canada. The Adviser uses a set of value, momentum and other factors to generate an investment portfolio based on the Advisers global asset allocation models and security selection procedures.
The Adviser believes that a better risk-adjusted return may be achievable by applying both value and momentum strategies simultaneously: Value strategies favor securities that appear cheap based on fundamental measures, often as a result of lack of favor. Examples of value strategies 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 strong recent performance. Examples of momentum strategies 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 Advisers proprietary research.
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 and depositary receipts). The Fund will invest in companies with a broad range of market capitalizations, including smaller capitalization companies. The Fund invests primarily in securities comprising the International Equity Benchmark and also invests to some extent in securities outside the International Equity Benchmark which the Adviser deems to have similar investment characteristics to the securities comprising the International 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 Funds assets will 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. The Fund may invest to a lesser extent in securities of issuers in countries and currencies not included in the International Equity Benchmark. However, the Adviser does not currently expect such securities to be a significant component of the Funds investment portfolio. To attempt to increase its income or total return, the Fund may lend its portfolio securities to certain types of eligible borrowers. The Adviser believes that the management of transaction costs should be considered when determining whether an investment is attractive. Transaction costs include commissions, bid-ask spreads, market impact and time delays (time between decision and implementation when a market may move in favor of or against the Fund).
The Adviser considers transaction costs both in its forecasting model and optimization process to seek to ensure that trades for the Fund will remain attractive after transaction costs are reflected.
AQINX Performance
Total returns for AQINX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -13.7% |
| 3 years (annualised) | -1.3% |
AQINX Risk Information
Risk metrics for AQINX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 23.5%
AQINX Costs and Fees
AQINX costs about $111 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.11%
- Gross expense ratio: 1.19%
- Portfolio turnover: 92%
- Brokerage commissions: 4.24 bps of average net assets (SEC N-CEN)
AQINX Cashflows
Over the 12 months to 2022-12, AQR International Equity Fund had net outflows of $65.06M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-12 | −$10.55M |
| 2022-11 | −$942.55K |
| 2022-10 | −$3.04M |
| 2022-09 | −$1.86M |
| 2022-08 | −$315.56K |
| 2022-07 | −$260.13K |
AQINX Debt Constituents
No individual debt constituents are reported in AQR International Equity Fund's latest SEC N-PORT filing.
AQINX Prospectus and SEC Filings
Official AQR International Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2021-01-28
- Prospectus supplement (497) — filed 2022-08-19
- Prospectus supplement (497) — filed 2021-03-16
- Portfolio holdings (N-PORT) — filed 2023-02-27
- Portfolio holdings (N-PORT) — filed 2022-11-23
- Portfolio holdings (N-PORT) — filed 2022-08-25
- Annual census (N-CEN) — filed 2022-12-09
- Annual census (N-CEN) — filed 2021-12-13
Related Funds
Other Money Market funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.