# Where do the zero returns in QMNIX (AQR Market Neutral) come from?

QMNIX, Which is a market neutral offering from AQR, has a surprising number of totally flat days. https://finance.yahoo.com/quote/QMNIX%3FP%3DQMNIX/history/

Looking at the returns, 124 of them, which is 10.39%, have been exactly 0 since inception.

Does this imply that they are periodically liquidating the portfolio positions, or could there be another explanation?

I think it's more than likely just rounding. The prices only go out to two places past the decimal, so a 1 cent change would be about a 0.1% daily return (with a \$10 average price). Looking at the returns from a purely statistical standpoint, the average daily absolute return is \$-0.0062 with a standard deviation of \\$0.042.