ASFYX vs. CCRV

Last updated Jun 9, 2026

ASFYX (AlphaSimplex Managed Futures Strategy Fund Class Y) and CCRV (iShares Commodity Curve Carry Strategy ETF) are both funds - ASFYX is a Systematic Trend fund managed by BlackRock, while CCRV is a Commodities fund tracking the CCRV-US - ICE BofA Commodity Enhanced Carry Index. At a 0.20 correlation, their price movements are largely independent. ASFYX charges 1.47%/yr vs 0.40%/yr for CCRV.

Performance

ASFYX vs. CCRV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AlphaSimplex Managed Futures Strategy Fund Class Y (ASFYX) and iShares Commodity Curve Carry Strategy ETF (CCRV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ASFYX

• 1D: -2.15%
• 1M: -1.25%
• YTD: 11.89%
• 6M: 14.79%
• 1Y: 22.46%
• 3Y*: -2.50%
• 5Y*: 2.23%
• 10Y*: 2.62%

CCRV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ASFYX vs. CCRV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ASFYX AlphaSimplex Managed Futures Strategy Fund Class Y	11.89%	-9.67%	-3.22%	-10.33%	35.67%	3.52%	5.16%
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	-0.05%	5.74%	5.47%	19.91%	33.78%	7.37%

Correlation

The correlation between ASFYX and CCRV is -0.03, 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	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (All Time) Calculated using the full available price history since Sep 4, 2020	0.20

The correlation between ASFYX and CCRV shifts across timeframes, from -0.03 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ASFYX vs. CCRV — Risk / Return Rank

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

ASFYX

ASFYX Risk / Return Rank: 60
ASFYX Sharpe Ratio Rank: 44
ASFYX Sortino Ratio Rank: 39
ASFYX Omega Ratio Rank: 42
ASFYX Calmar Ratio Rank: 89
ASFYX Martin Ratio Rank: 85

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.

ASFYX vs. CCRV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AlphaSimplex Managed Futures Strategy Fund Class Y (ASFYX) and iShares Commodity Curve Carry Strategy ETF (CCRV). 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.

	ASFYX	CCRV	Difference
Sharpe ratio: Return per unit of total volatility	1.88	—	—
Sortino ratio: Return per unit of downside risk	2.51	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	4.31	—	—
Martin ratio: Return relative to average drawdown	15.26	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ASFYX	CCRV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	—	—

Drawdowns

Drawdown Indicators

	ASFYX	CCRV	Difference
Max Drawdown Largest peak-to-trough decline	-36.43%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-5.24%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-30.32%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-36.43%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.43%	—	—
Current Drawdown Current decline from peak	-20.61%	—	—
Average Drawdown Average peak-to-trough decline	-13.18%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.48%	—	—

Volatility

Volatility by Period

	ASFYX	CCRV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.83%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.99%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.79%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.73%	—	—

ASFYX vs. CCRV - Expense Ratio Comparison

ASFYX has a 1.47% expense ratio, which is higher than CCRV's 0.40% expense ratio.

Dividends

ASFYX vs. CCRV - Dividend Comparison

ASFYX's dividend yield for the trailing twelve months is around 1.36%, while CCRV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASFYX AlphaSimplex Managed Futures Strategy Fund Class Y	1.36%	1.52%	1.46%	0.99%	32.48%	6.07%	3.40%	5.51%	1.30%	0.07%	0.01%	5.06%
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	0.00%	4.43%	7.26%	33.27%	26.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ASFYX and CCRV in my portfolio?

ASFYX and CCRV have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.