BQMGX vs. ADJEX
BQMGX (Bright Rock Mid Cap Growth Fund) and ADJEX (Azzad Ethical Fund) are both Mid Cap Growth Equities funds. Over the past 10 years, BQMGX returned 8.98%/yr vs 8.93%/yr for ADJEX. Their correlation of 0.89 means they have usually moved in the same direction. BQMGX charges 1.07%/yr vs 0.99%/yr for ADJEX.
Performance
BQMGX vs. ADJEX - Performance Comparison
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Returns By Period
In the year-to-date period, BQMGX achieves a 1.02% return, which is significantly lower than ADJEX's 7.67% return. Both investments have delivered pretty close results over the past 10 years, with BQMGX having a 8.98% annualized return and ADJEX not far behind at 8.93%.
BQMGX
- 1D
- 0.34%
- 1M
- 0.46%
- 6M
- -0.54%
- YTD
- 1.02%
- 1Y
- -1.20%
- 3Y*
- 4.86%
- 5Y*
- 2.47%
- 10Y*
- 8.98%
- ALL TIME*
- 9.44%
ADJEX
- 1D
- 0.92%
- 1M
- -2.23%
- 6M
- 7.08%
- YTD
- 7.67%
- 1Y
- 3.73%
- 3Y*
- 4.04%
- 5Y*
- 0.49%
- 10Y*
- 8.93%
- ALL TIME*
- 6.21%
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 |
BQMGX vs. ADJEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BQMGX Bright Rock Mid Cap Growth Fund | 1.02% | -0.29% | 14.16% | 13.00% | -19.44% | 23.02% | 19.62% | 32.05% | -6.68% | 22.16% |
ADJEX Azzad Ethical Fund | 7.67% | 1.43% | 1.70% | 24.25% | -27.82% | 17.60% | 30.47% | 30.01% | -3.25% | 23.40% |
Correlation
The correlation between BQMGX and ADJEX 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 BQMGX and ADJEX 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
BQMGX vs. ADJEX — Risk / Return Rank
BQMGX
ADJEX
BQMGX vs. ADJEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bright Rock Mid Cap Growth Fund (BQMGX) and Azzad Ethical Fund (ADJEX). 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.
| BQMGX | ADJEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.04 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 0.18 | -0.38 |
| Martin ratioReturn relative to average drawdown | -0.42 | 0.56 | -0.98 |
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Drawdowns
BQMGX vs. ADJEX - Drawdown Comparison
The maximum BQMGX drawdown since its inception was -36.05%, smaller than the maximum ADJEX drawdown of -55.62%. Use the drawdown chart below to compare losses from any high point for BQMGX and ADJEX.
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Drawdown Indicators
| BQMGX | ADJEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.05% | -55.62% | +19.57% |
Max Drawdown (1Y)Largest decline over 1 year | -11.62% | -14.38% | +2.76% |
Max Drawdown (3Y)Largest decline over 3 years | -18.72% | -25.81% | +7.09% |
Max Drawdown (5Y)Largest decline over 5 years | -25.92% | -37.22% | +11.30% |
Max Drawdown (10Y)Largest decline over 10 years | -36.05% | -37.22% | +1.17% |
Current DrawdownCurrent decline from peak | -5.13% | -4.68% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -5.88% | -12.48% | +6.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.51% | 4.70% | +0.81% |
Volatility
BQMGX vs. ADJEX - Volatility Comparison
The current volatility for Bright Rock Mid Cap Growth Fund (BQMGX) is 3.29%, while Azzad Ethical Fund (ADJEX) has a volatility of 4.34%. This indicates that BQMGX experiences smaller price fluctuations and is considered to be less risky than ADJEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BQMGX | ADJEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.29% | 4.34% | -1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 9.38% | 14.77% | -5.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.41% | 18.59% | -6.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.85% | 22.78% | -5.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.92% | 21.56% | -3.64% |
BQMGX vs. ADJEX - Expense Ratio Comparison
BQMGX has a 1.07% expense ratio, which is higher than ADJEX's 0.99% expense ratio.
Dividends
BQMGX vs. ADJEX - Dividend Comparison
BQMGX's dividend yield for the trailing twelve months is around 4.08%, while ADJEX has not paid dividends to shareholders.
| 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 | 4.08% | 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
BQMGX and ADJEX 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 (4.34%) compared to BQMGX (3.29%). In terms of maximum drawdown, BQMGX dropped -36.05% vs ADJEX's -55.62%.
ADJEX currently has the higher Sharpe Ratio (0.14 vs -0.19), 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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