ARCIX vs. VBR

Last updated Jun 25, 2026

ARCIX (AQR Risk-Balanced Commodities Strategy Fund) and VBR (Vanguard Small-Cap Value ETF) are both funds - ARCIX is a Commodities fund managed by AQR Funds, while VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index. Over the past 10 years, ARCIX returned 11.02%/yr vs 11.10%/yr for VBR. At a 0.22 correlation, their price movements are largely independent. ARCIX charges 1.00%/yr vs 0.05%/yr for VBR.

Performance

ARCIX vs. VBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Risk-Balanced Commodities Strategy Fund (ARCIX) and Vanguard Small-Cap Value ETF (VBR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARCIX achieves a 10.68% return, which is significantly lower than VBR's 14.21% return. Both investments have delivered pretty close results over the past 10 years, with ARCIX having a 11.02% annualized return and VBR not far ahead at 11.10%.

ARCIX

• 1D: -1.63%
• 1M: -9.36%
• YTD: 10.68%
• 6M: 9.32%
• 1Y: 27.06%
• 3Y*: 13.45%
• 5Y*: 14.30%
• 10Y*: 11.02%

VBR

• 1D: 0.81%
• 1M: 3.37%
• YTD: 14.21%
• 6M: 12.35%
• 1Y: 26.15%
• 3Y*: 17.22%
• 5Y*: 8.60%
• 10Y*: 11.10%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARCIX vs. VBR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARCIX AQR Risk-Balanced Commodities Strategy Fund	10.68%	20.99%	7.43%	-0.22%	21.39%	39.74%	8.15%	18.15%	-17.56%	10.41%
VBR Vanguard Small-Cap Value ETF	14.21%	9.09%	12.40%	16.00%	-9.38%	28.08%	5.90%	22.78%	-12.28%	11.81%

Correlation

The correlation between ARCIX and VBR is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.22
Correlation (All Time) Calculated using the full available price history since Jul 9, 2012	0.22

The correlation between ARCIX and VBR shifts across timeframes, from 0.05 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ARCIX vs. VBR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARCIX

ARCIX Risk / Return Rank: 34
ARCIX Sharpe Ratio Rank: 36
ARCIX Sortino Ratio Rank: 31
ARCIX Omega Ratio Rank: 35
ARCIX Calmar Ratio Rank: 31
ARCIX Martin Ratio Rank: 40

VBR

VBR Risk / Return Rank: 60
VBR Sharpe Ratio Rank: 56
VBR Sortino Ratio Rank: 60
VBR Omega Ratio Rank: 52
VBR Calmar Ratio Rank: 66
VBR Martin Ratio Rank: 64

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ARCIX vs. VBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Risk-Balanced Commodities Strategy Fund (ARCIX) and Vanguard Small-Cap Value ETF (VBR). 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.

	ARCIX	VBR	Difference
Sharpe ratio: Return per unit of total volatility	1.58	1.72	-0.14
Sortino ratio: Return per unit of downside risk	2.10	2.54	-0.44
Omega ratio: Gain probability vs. loss probability	1.29	1.30	-0.01
Calmar ratio: Return relative to maximum drawdown	1.93	2.97	-1.04
Martin ratio: Return relative to average drawdown	8.03	10.48	-2.45

ARCIX vs. VBR - Sharpe Ratio Comparison

The current ARCIX Sharpe Ratio is 1.58, which is comparable to the VBR Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of ARCIX and VBR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ARCIX vs. VBR - Drawdown Comparison

The maximum ARCIX drawdown since its inception was -54.25%, smaller than the maximum VBR drawdown of -61.98%. Use the drawdown chart below to compare losses from any high point for ARCIX and VBR.

Drawdown Indicators

	ARCIX	VBR	Difference
Max Drawdown Largest peak-to-trough decline	-54.25%	-61.98%	+7.73%
Max Drawdown (1Y) Largest decline over 1 year	-12.53%	-8.85%	-3.68%
Max Drawdown (3Y) Largest decline over 3 years	-13.67%	-24.19%	+10.52%
Max Drawdown (5Y) Largest decline over 5 years	-20.29%	-24.19%	+3.90%
Max Drawdown (10Y) Largest decline over 10 years	-32.45%	-45.28%	+12.83%
Current Drawdown Current decline from peak	-12.53%	-0.34%	-12.19%
Average Drawdown Average peak-to-trough decline	-25.31%	-8.25%	-17.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	2.50%	+0.56%

Volatility

ARCIX vs. VBR - Volatility Comparison

AQR Risk-Balanced Commodities Strategy Fund (ARCIX) and Vanguard Small-Cap Value ETF (VBR) have volatilities of 4.15% and 3.97%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARCIX	VBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	3.97%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	13.03%	10.69%	+2.34%
Volatility (1Y) Calculated over the trailing 1-year period	15.34%	15.29%	+0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.92%	19.73%	-0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.44%	21.71%	-4.27%

ARCIX vs. VBR - Expense Ratio Comparison

ARCIX has a 1.00% expense ratio, which is higher than VBR's 0.05% expense ratio.

Dividends

ARCIX vs. VBR - Dividend Comparison

ARCIX's dividend yield for the trailing twelve months is around 12.14%, more than VBR's 1.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARCIX AQR Risk-Balanced Commodities Strategy Fund	12.14%	13.44%	2.11%	7.56%	9.51%	18.23%	0.09%	5.19%	0.67%	0.01%	4.82%	0.00%
VBR Vanguard Small-Cap Value ETF	1.72%	1.95%	1.98%	2.12%	2.03%	1.75%	1.68%	2.06%	2.35%	1.79%	1.77%	1.99%

Frequently Asked Questions

Can I hold both ARCIX and VBR in my portfolio?

ARCIX and VBR have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARCIX or VBR?

ARCIX has higher volatility (4.15%) compared to VBR (3.97%). In terms of maximum drawdown, ARCIX dropped -54.25% vs VBR's -61.98%.

Which has better risk-adjusted returns?

VBR currently has the higher Sharpe Ratio (1.72 vs 1.58), 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.