QGMIX Fees and Costs — AQR Macro Opportunities Fund, Class I
Data updated: 2026-08-27
The net expense ratio is 1.53% (1.54% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.2M in broker commissions, 0.2504% of average net assets, and portfolio turnover was 158%.
QGMIX Fees and Expenses
Annual operating expenses and sales charges of QGMIX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | — |
| Other expenses | 0.51% |
| Gross expense ratio | 1.54% |
| Fee waiver | −0.01% |
| Net expense ratio | 1.53% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
QGMIX Costs Over Time
On $10,000 invested in QGMIX, assuming 5% a year before costs, total costs come to $1,096 over 5 years, cutting the return by 1.87% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.53%) | $161 | $497 | $855 |
| Trading costs (broker commissions) | $26 | $81 | $140 |
| Lost growth on money paid in costs | $0 | $29 | $101 |
| Total costs | $187 | $607 | $1,096 |
| Value after costs | $10,313 | $10,969 | $11,666 |
| Impact on return, per year | 1.87% | 1.87% | 1.87% |
QGMIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.2504%
- Total broker commissions: $1.2M
- Bought from dealers (principal trades, not a cost): $3.7B
- Portfolio turnover (prospectus): 158%
- Securities lending: none during the year
QGMIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $462K | 39.82% |
| J.P. Morgan Securities LLC | $424K | 36.55% |
| Goldman Sachs & Co. LLC | $189K | 16.27% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $45K | 3.86% |
| BofA Securities, Inc. | $26K | 2.24% |
| Barclays Capital, Inc. | $14K | 1.22% |
| BNP Paribas Securities Corp. | $301 | 0.03% |
| UBS Securities LLC | $44 | 0.00% |
| Citigroup Global Markets Inc. | $36 | 0.00% |
| Instinet, LLC | $10 | 0.00% |
QGMIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $3.1B | 86.39% |
| Deutsche Bank Securities Inc. | $140.9M | 3.88% |
| BofA Securities, Inc. | $78.3M | 2.16% |
| Morgan Stanley & Co. LLC | $60.9M | 1.68% |
| HSBC Securities (USA) Inc. | $56.4M | 1.55% |
| Natwest Markets Securities Inc. | $38.3M | 1.06% |
| Goldman Sachs & Co. LLC | $35.2M | 0.97% |
| Citigroup Global Markets Inc. | $32.3M | 0.89% |
| TD SECURITIES (USA) LLC | $25.9M | 0.71% |
| Wells Fargo Securities, LLC | $25.6M | 0.71% |
AQR Macro Opportunities Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| QGMRX | Class R6 | 1.38% | — |
| QGMIX | Class I | 1.53% | — |
| QGMNX | Class N | 1.77% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.