ARCNX vs. PCLAX
ARCNX (AQR Risk-Balanced Commodities Strategy Fund Class N) and PCLAX (PIMCO CommoditiesPLUS Strategy Fund) are both Commodities funds. Over the past 10 years, ARCNX returned 11.32%/yr vs 11.91%/yr for PCLAX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. ARCNX charges 1.28%/yr vs 1.19%/yr for PCLAX.
Performance
ARCNX vs. PCLAX - Performance Comparison
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Returns By Period
In the year-to-date period, ARCNX achieves a 16.04% return, which is significantly lower than PCLAX's 34.00% return. Over the past 10 years, ARCNX has underperformed PCLAX with an annualized return of 11.32%, while PCLAX has yielded a comparatively higher 11.91% annualized return.
ARCNX
- 1D
- 0.29%
- 1M
- 5.32%
- 6M
- 7.37%
- YTD
- 16.04%
- 1Y
- 33.40%
- 3Y*
- 13.01%
- 5Y*
- 14.23%
- 10Y*
- 11.32%
- ALL TIME*
- 4.59%
PCLAX
- 1D
- -0.38%
- 1M
- 9.82%
- 6M
- 25.28%
- YTD
- 34.00%
- 1Y
- 38.61%
- 3Y*
- 11.95%
- 5Y*
- 14.08%
- 10Y*
- 11.91%
- ALL TIME*
- 5.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
ARCNX vs. PCLAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ARCNX AQR Risk-Balanced Commodities Strategy Fund Class N | 16.04% | 20.76% | 7.19% | -0.50% | 20.97% | 39.48% | 8.11% | 17.68% | -17.83% | 10.20% |
PCLAX PIMCO CommoditiesPLUS Strategy Fund | 34.00% | 4.13% | 5.76% | -0.14% | 22.73% | 43.18% | -9.67% | 19.19% | -12.47% | 10.30% |
Correlation
The correlation between ARCNX and PCLAX is 0.78, 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. | 0.78 |
Correlation (3Y) Balances recent behavior with more history. | 0.76 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 2012 | 0.76 |
The correlation between ARCNX and PCLAX has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.
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Return for Risk
ARCNX vs. PCLAX — Risk / Return Rank
ARCNX
PCLAX
ARCNX vs. PCLAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Risk-Balanced Commodities Strategy Fund Class N (ARCNX) and PIMCO CommoditiesPLUS Strategy Fund (PCLAX). 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.
| ARCNX | PCLAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.31 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 2.30 | -0.13 |
| Martin ratioReturn relative to average drawdown | 7.07 | 7.74 | -0.67 |
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Drawdowns
ARCNX vs. PCLAX - Drawdown Comparison
The maximum ARCNX drawdown since its inception was -55.17%, smaller than the maximum PCLAX drawdown of -68.19%. Use the drawdown chart below to compare losses from any high point for ARCNX and PCLAX.
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Drawdown Indicators
| ARCNX | PCLAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.17% | -68.19% | +13.02% |
Max Drawdown (1Y)Largest decline over 1 year | -14.52% | -15.53% | +1.01% |
Max Drawdown (3Y)Largest decline over 3 years | -14.52% | -15.53% | +1.01% |
Max Drawdown (5Y)Largest decline over 5 years | -20.30% | -21.75% | +1.45% |
Max Drawdown (10Y)Largest decline over 10 years | -32.80% | -52.00% | +19.20% |
Current DrawdownCurrent decline from peak | -8.22% | -6.58% | -1.64% |
Average DrawdownAverage peak-to-trough decline | -25.77% | -25.49% | -0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.45% | 4.63% | -0.18% |
Volatility
ARCNX vs. PCLAX - Volatility Comparison
The current volatility for AQR Risk-Balanced Commodities Strategy Fund Class N (ARCNX) is 4.80%, while PIMCO CommoditiesPLUS Strategy Fund (PCLAX) has a volatility of 5.99%. This indicates that ARCNX experiences smaller price fluctuations and is considered to be less risky than PCLAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARCNX | PCLAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.80% | 5.99% | -1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 13.19% | 17.85% | -4.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.96% | 19.98% | -4.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.92% | 19.59% | -0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.45% | 40.63% | -23.18% |
ARCNX vs. PCLAX - Expense Ratio Comparison
ARCNX has a 1.28% expense ratio, which is higher than PCLAX's 1.19% expense ratio.
Dividends
ARCNX vs. PCLAX - Dividend Comparison
ARCNX's dividend yield for the trailing twelve months is around 11.69%, more than PCLAX's 10.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARCNX AQR Risk-Balanced Commodities Strategy Fund Class N | 11.69% | 13.57% | 1.89% | 7.45% | 9.45% | 18.31% | 0.09% | 4.98% | 0.29% | 0.01% | 4.69% | 0.00% |
PCLAX PIMCO CommoditiesPLUS Strategy Fund | 10.83% | 1.20% | 5.20% | 4.58% | 44.24% | 75.67% | 0.45% | 2.07% | 18.31% | 12.18% | 0.09% | 1.77% |
Frequently Asked Questions
ARCNX and PCLAX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCLAX has higher volatility (5.99%) compared to ARCNX (4.80%). In terms of maximum drawdown, ARCNX dropped -55.17% vs PCLAX's -68.19%.
ARCNX currently has the higher Sharpe Ratio (1.98 vs 1.79), 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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