BRCAX vs. DCMSX

Last updated Jun 4, 2026

BRCAX (Invesco Balanced-Risk Commodity Strategy Fund Class A) and DCMSX (DFA Commodity Strategy Portfolio) are both Commodities funds. Over the past 10 years, BRCAX returned 7.75%/yr vs 7.72%/yr for DCMSX. Their correlation of 0.86 suggests significant overlap in exposure. BRCAX charges 1.40%/yr vs 0.31%/yr for DCMSX.

Performance

BRCAX vs. DCMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Balanced-Risk Commodity Strategy Fund Class A (BRCAX) and DFA Commodity Strategy Portfolio (DCMSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BRCAX achieves a 32.52% return, which is significantly higher than DCMSX's 30.71% return. Both investments have delivered pretty close results over the past 10 years, with BRCAX having a 7.75% annualized return and DCMSX not far behind at 7.72%.

BRCAX

• 1D: 0.35%
• 1M: -2.36%
• YTD: 32.52%
• 6M: 33.47%
• 1Y: 51.63%
• 3Y*: 19.44%
• 5Y*: 11.78%
• 10Y*: 7.75%

DCMSX

• 1D: 0.33%
• 1M: -2.57%
• YTD: 30.71%
• 6M: 29.48%
• 1Y: 42.92%
• 3Y*: 17.27%
• 5Y*: 12.32%
• 10Y*: 7.72%

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

BRCAX vs. DCMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRCAX Invesco Balanced-Risk Commodity Strategy Fund Class A	32.52%	18.41%	5.47%	-3.44%	7.77%	19.18%	7.75%	4.20%	-12.18%	4.49%
DCMSX DFA Commodity Strategy Portfolio	30.71%	15.15%	5.90%	-9.14%	11.36%	33.54%	-1.78%	7.96%	-11.22%	2.73%

Correlation

The correlation between BRCAX and DCMSX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Dec 1, 2010	0.86

The correlation between BRCAX and DCMSX has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.

Return for Risk

BRCAX vs. DCMSX — Risk / Return Rank

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

BRCAX

BRCAX Risk / Return Rank: 88
BRCAX Sharpe Ratio Rank: 91
BRCAX Sortino Ratio Rank: 75
BRCAX Omega Ratio Rank: 82
BRCAX Calmar Ratio Rank: 95
BRCAX Martin Ratio Rank: 95

DCMSX

DCMSX Risk / Return Rank: 81
DCMSX Sharpe Ratio Rank: 84
DCMSX Sortino Ratio Rank: 67
DCMSX Omega Ratio Rank: 73
DCMSX Calmar Ratio Rank: 96
DCMSX Martin Ratio Rank: 86

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.

BRCAX vs. DCMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Balanced-Risk Commodity Strategy Fund Class A (BRCAX) and DFA Commodity Strategy Portfolio (DCMSX). 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.

	BRCAX	DCMSX	Difference
Sharpe ratio: Return per unit of total volatility	3.05	2.71	+0.34
Sortino ratio: Return per unit of downside risk	3.63	3.42	+0.21
Omega ratio: Gain probability vs. loss probability	1.55	1.48	+0.07
Calmar ratio: Return relative to maximum drawdown	5.70	6.10	-0.39
Martin ratio: Return relative to average drawdown	22.91	16.43	+6.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRCAX vs. DCMSX - Sharpe Ratio Comparison

The current BRCAX Sharpe Ratio is 3.05, which is comparable to the DCMSX Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of BRCAX and DCMSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BRCAX	DCMSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.05	2.71	+0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.76	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.54	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.11	+0.07

Drawdowns

BRCAX vs. DCMSX - Drawdown Comparison

The maximum BRCAX drawdown since its inception was -60.98%, roughly equal to the maximum DCMSX drawdown of -60.94%. Use the drawdown chart below to compare losses from any high point for BRCAX and DCMSX.

Drawdown Indicators

	BRCAX	DCMSX	Difference
Max Drawdown Largest peak-to-trough decline	-60.98%	-60.94%	-0.04%
Max Drawdown (1Y) Largest decline over 1 year	-9.22%	-7.21%	-2.01%
Max Drawdown (3Y) Largest decline over 3 years	-9.25%	-11.10%	+1.85%
Max Drawdown (5Y) Largest decline over 5 years	-20.66%	-27.93%	+7.27%
Max Drawdown (10Y) Largest decline over 10 years	-38.44%	-32.52%	-5.92%
Current Drawdown Current decline from peak	-4.82%	-3.81%	-1.01%
Average Drawdown Average peak-to-trough decline	-28.50%	-31.79%	+3.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	2.66%	-0.37%

Volatility

BRCAX vs. DCMSX - Volatility Comparison

Invesco Balanced-Risk Commodity Strategy Fund Class A (BRCAX) and DFA Commodity Strategy Portfolio (DCMSX) have volatilities of 5.36% and 5.53%, 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

	BRCAX	DCMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.36%	5.53%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	15.49%	14.09%	+1.40%
Volatility (1Y) Calculated over the trailing 1-year period	17.29%	16.32%	+0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.80%	16.31%	-0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.30%	14.48%	-0.18%

BRCAX vs. DCMSX - Expense Ratio Comparison

BRCAX has a 1.40% expense ratio, which is higher than DCMSX's 0.31% expense ratio.

Dividends

BRCAX vs. DCMSX - Dividend Comparison

BRCAX's dividend yield for the trailing twelve months is around 10.58%, more than DCMSX's 8.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRCAX Invesco Balanced-Risk Commodity Strategy Fund Class A	10.58%	14.02%	4.85%	3.80%	9.98%	16.92%	0.00%	0.89%	0.17%	0.00%	2.58%	0.00%
DCMSX DFA Commodity Strategy Portfolio	8.06%	10.75%	2.83%	2.52%	7.46%	49.44%	0.37%	1.51%	1.63%	3.09%	0.47%	0.15%

Frequently Asked Questions

Can I hold both BRCAX and DCMSX in my portfolio?

With a correlation of 0.93, BRCAX and DCMSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BRCAX or DCMSX?

DCMSX has higher volatility (5.53%) compared to BRCAX (5.36%). In terms of maximum drawdown, BRCAX dropped -60.98% vs DCMSX's -60.94%.

Which has better risk-adjusted returns?

BRCAX currently has the higher Sharpe Ratio (3.05 vs 2.71), 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.