VAR will be a more relevant risk measure for Quality because its portfolio experiences less turnover and because VAR is evaluated more frequently.
Coupling a high turnover with a long time horizon decreases VAR's usefulness. VAR is calculated for a specific portfolio at a point in time. High turnover will change a portfolio's composition, which will also change the underlying statistical characteristics of the portfolio. These changes in statistical characteristics then decrease the usefulness of VAR calculations, especially in situations with long time horizons
