Morningstar

AQR Diversified Arbitrage Fund Class I ADAIX

Morningstar Medalist Rating
Medalist Rating as of | See AQR Investment Hub
  • NAV / 1-Day Return 13.31  /  +0.08 %
  • Total Assets 3.1B
  • Adj. Expense Ratio
    1.250%
  • Expense Ratio 1.710%
  • Distribution Fee Level Average
  • Share Class Type Institutional
  • Category Relative Value Arbitrage
  • Investment Style Mid Blend
  • Min. Initial Investment 5M
  • Status Open
  • TTM Yield 2.05%
  • Turnover 410%

USD | NAV as of Oct 03, 2026 | 1-Day Return as of Oct 03, 2026, 12:11 AM GMT+0

Morningstar’s Analysis ADAIX

Will ADAIX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable ADAIX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the ADAIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of ADAIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Diversifying strategy with evolving trade-offs.

Senior Analyst David Reyna

David Reyna

Senior Analyst

Summary

AQR Diversified Arbitrage mutual fund and Sustainable Corporate Arbitrage UCITS remain viable diversifiers within a broader portfolio, supported by a disciplined framework and an experienced team. However, the strategy’s elevated leverage, persistent net long exposure, and more complex implementation support a Process Pillar downgrade to Average from Above Average.

by David Reyna
Rated on Published on

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Portfolio Holdings ADAIX

More ADAIX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 41.0
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Limited Purpose Cash Investment

33.19 900M
—

United States Treasury Bills 0%

4.41 120M
Government

United States Treasury Bills 0%

3.63 98M
Government

United States Treasury Bills 0%

3.32 90M
Government

United States Treasury Bills 0%

3.30 89M
Government

United States Treasury Bills 0%

3.05 83M
Government

United States Treasury Bills 0%

2.58 70M
Government

United States Treasury Bills 0%

2.58 70M
Government

US DOLLAR

2.36 64M
Cash and Equivalents

United States Treasury Bills 0%

2.21 60M
Government

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