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The RelatedManager is a Manager and not a QuerySet, but it implements the database-abstraction API and because of that it has all the QuerySet methods such as get(), exclude(), filter() and all().
The difference in calling all() in a RelatedManager is that it actually performs a query in the database.
The all() method returns a QuerySet.
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You can execute any QuerySet function to a RelatedManager object. Yes, it will return a QuerySet, you can perform .all(), .filter(), etc.
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