ADJEX vs. BQMGX
ADJEX (Azzad Ethical Fund) and BQMGX (Bright Rock Mid Cap Growth Fund) are both Mid Cap Growth Equities funds. Over the past 10 years, ADJEX returned 8.69%/yr vs 8.95%/yr for BQMGX. Their correlation of 0.89 means they have usually moved in the same direction. ADJEX charges 0.99%/yr vs 1.07%/yr for BQMGX.
Performance
ADJEX vs. BQMGX - Performance Comparison
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Returns By Period
In the year-to-date period, ADJEX achieves a 6.69% return, which is significantly higher than BQMGX's 0.68% return. Both investments have delivered pretty close results over the past 10 years, with ADJEX having a 8.69% annualized return and BQMGX not far ahead at 8.95%.
ADJEX
- 1D
- 1.22%
- 1M
- -3.12%
- 6M
- 6.82%
- YTD
- 6.69%
- 1Y
- 2.78%
- 3Y*
- 3.62%
- 5Y*
- 0.31%
- 10Y*
- 8.69%
- ALL TIME*
- 6.17%
BQMGX
- 1D
- -0.46%
- 1M
- 0.13%
- 6M
- -1.08%
- YTD
- 0.68%
- 1Y
- -1.53%
- 3Y*
- 4.91%
- 5Y*
- 2.40%
- 10Y*
- 8.95%
- ALL TIME*
- 9.42%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
ADJEX Azzad Ethical Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
ADJEX vs. BQMGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ADJEX Azzad Ethical Fund | 6.69% | 1.43% | 1.70% | 24.25% | -27.82% | 17.60% | 30.47% | 30.01% | -3.25% | 23.40% |
BQMGX Bright Rock Mid Cap Growth Fund | 0.68% | -0.29% | 14.16% | 13.00% | -19.44% | 23.02% | 19.62% | 32.05% | -6.68% | 22.16% |
Correlation
The correlation between ADJEX and BQMGX is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.87 |
Correlation (All Time) Calculated using the full available price history since May 26, 2010 | 0.89 |
Over the past year, the correlation between ADJEX and BQMGX has dropped to 0.68 - well below their long-term average of 0.89, suggesting their price drivers have been diverging.
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Return for Risk
ADJEX vs. BQMGX — Risk / Return Rank
ADJEX
BQMGX
ADJEX vs. BQMGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Azzad Ethical Fund (ADJEX) and Bright Rock Mid Cap Growth Fund (BQMGX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ADJEX | BQMGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.97 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | -0.25 | +0.27 |
| Martin ratioReturn relative to average drawdown | 0.06 | -0.53 | +0.59 |
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Drawdowns
ADJEX vs. BQMGX - Drawdown Comparison
The maximum ADJEX drawdown since its inception was -55.62%, which is greater than BQMGX's maximum drawdown of -36.05%. Use the drawdown chart below to compare losses from any high point for ADJEX and BQMGX.
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Drawdown Indicators
| ADJEX | BQMGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.62% | -36.05% | -19.57% |
Max Drawdown (1Y)Largest decline over 1 year | -14.38% | -11.62% | -2.76% |
Max Drawdown (3Y)Largest decline over 3 years | -25.81% | -18.72% | -7.09% |
Max Drawdown (5Y)Largest decline over 5 years | -37.22% | -25.92% | -11.30% |
Max Drawdown (10Y)Largest decline over 10 years | -37.22% | -36.05% | -1.17% |
Current DrawdownCurrent decline from peak | -5.55% | -5.45% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -12.48% | -5.88% | -6.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.70% | 5.50% | -0.80% |
Volatility
ADJEX vs. BQMGX - Volatility Comparison
Azzad Ethical Fund (ADJEX) has a higher volatility of 4.30% compared to Bright Rock Mid Cap Growth Fund (BQMGX) at 3.31%. This indicates that ADJEX's price experiences larger fluctuations and is considered to be riskier than BQMGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ADJEX | BQMGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.30% | 3.31% | +0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 14.81% | 9.42% | +5.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.57% | 12.41% | +6.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.78% | 16.86% | +5.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.56% | 17.92% | +3.64% |
ADJEX vs. BQMGX - Expense Ratio Comparison
ADJEX has a 0.99% expense ratio, which is lower than BQMGX's 1.07% expense ratio.
Dividends
ADJEX vs. BQMGX - Dividend Comparison
ADJEX has not paid dividends to shareholders, while BQMGX's dividend yield for the trailing twelve months is around 4.09%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ADJEX Azzad Ethical Fund | 0.00% | 0.00% | 5.47% | 2.53% | 0.06% | 12.81% | 5.62% | 6.35% | 6.37% | 14.98% | 0.09% | 0.69% |
BQMGX Bright Rock Mid Cap Growth Fund | 4.09% | 4.12% | 5.99% | 0.00% | 5.90% | 8.05% | 5.27% | 3.50% | 0.00% | 0.08% | 1.07% | 5.80% |
Frequently Asked Questions
ADJEX and BQMGX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ADJEX has higher volatility (4.30%) compared to BQMGX (3.31%). In terms of maximum drawdown, ADJEX dropped -55.62% vs BQMGX's -36.05%.
ADJEX currently has the higher Sharpe Ratio (0.02 vs -0.23), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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