QLFRX Fees and Costs — AQR LSE Fusion Fund, Class R6
Data updated: 2026-08-27
The net expense ratio is 6.94% (9.24% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $10K in broker commissions, 0.0962% of average net assets, and portfolio turnover was 373%.
QLFRX Fees and Expenses
Annual operating expenses and sales charges of QLFRX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.95% |
| 12b-1 fee | 0.00% |
| Other expenses | 7.26% |
| Gross expense ratio | 9.24% |
| Fee waiver | −2.30% |
| Net expense ratio | 6.94% |
| 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 |
QLFRX Costs Over Time
On $10,000 invested in QLFRX, assuming 5% a year before costs, total costs come to $3,901 over 5 years, cutting the return by 7.39% 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 6.94%) | $729 | $2,134 | $3,474 |
| Trading costs (broker commissions) | $10 | $30 | $48 |
| Lost growth on money paid in costs | $0 | $112 | $379 |
| Total costs | $739 | $2,276 | $3,901 |
| Value after costs | $9,761 | $9,301 | $8,862 |
| Impact on return, per year | 7.39% | 7.39% | 7.39% |
QLFRX 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): 0.0962%
- Total broker commissions: $10K
- Bought from dealers (principal trades, not a cost): $124.3M
- Portfolio turnover (prospectus): 373%
- Securities on loan, average value: $6.5M
- Net income from securities lending: $1K (0.010% of average net assets)
QLFRX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $4K | 37.67% |
| Goldman Sachs & Co. LLC | $1K | 13.60% |
| Morgan Stanley & Co. LLC | $1K | 13.31% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $988 | 9.56% |
| Instinet, LLC | $858 | 8.30% |
| UBS Securities LLC | $678 | 6.56% |
| BNP Paribas Securities Corp. | $675 | 6.52% |
| BofA Securities, Inc. | $192 | 1.86% |
| Citigroup Global Markets Inc. | $160 | 1.55% |
| National Financial Services LLC | $111 | 1.08% |
QLFRX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $114.1M | 91.90% |
| Deutsche Bank Securities Inc. | $2.5M | 2.00% |
| TD SECURITIES (USA) LLC | $2.4M | 1.94% |
| BofA Securities, Inc. | $1.9M | 1.56% |
| Morgan Stanley & Co. LLC | $1.4M | 1.10% |
| HSBC Securities (USA) Inc. | $981K | 0.79% |
| BMO Capital Markets Corp. | $435K | 0.35% |
| Barclays Capital, Inc. | $209K | 0.17% |
| Goldman Sachs & Co. LLC | $140K | 0.11% |
| Citigroup Global Markets Inc. | $104K | 0.08% |
AQR LSE Fusion Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| QLFRX | Class R6 | 6.94% | — |
| QLFIX | Class I | 7.09% | — |
| QLFNX | Class N | 7.34% | — |
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.