BRCYX vs. ARCIX

Last updated Jun 5, 2026

BRCYX (Invesco Balanced-Risk Commodity Strategy Fund) and ARCIX (AQR Risk-Balanced Commodities Strategy Fund) are both Commodities funds. Over the past 10 years, BRCYX returned 8.00%/yr vs 12.22%/yr for ARCIX. Their correlation of 0.89 suggests significant overlap in exposure. BRCYX charges 1.06%/yr vs 1.00%/yr for ARCIX.

Performance

BRCYX vs. ARCIX - Performance Comparison

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

Returns By Period

In the year-to-date period, BRCYX achieves a 32.50% return, which is significantly higher than ARCIX's 20.60% return. Over the past 10 years, BRCYX has underperformed ARCIX with an annualized return of 8.00%, while ARCIX has yielded a comparatively higher 12.22% annualized return.

BRCYX

• 1D: -0.11%
• 1M: -2.16%
• YTD: 32.50%
• 6M: 33.41%
• 1Y: 51.88%
• 3Y*: 19.70%
• 5Y*: 11.69%
• 10Y*: 8.00%

ARCIX

• 1D: -0.80%
• 1M: -2.10%
• YTD: 20.60%
• 6M: 22.35%
• 1Y: 39.06%
• 3Y*: 17.73%
• 5Y*: 15.17%
• 10Y*: 12.22%

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

BRCYX vs. ARCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRCYX Invesco Balanced-Risk Commodity Strategy Fund	32.50%	18.82%	5.70%	-3.15%	7.94%	19.54%	7.89%	4.49%	-12.03%	4.88%
ARCIX AQR Risk-Balanced Commodities Strategy Fund	20.60%	20.99%	7.43%	-0.22%	21.39%	39.74%	8.15%	18.15%	-17.56%	10.41%

Correlation

The correlation between BRCYX and ARCIX is 0.92, 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	0.92
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	0.89
Correlation (All Time) Calculated using the full available price history since Jul 10, 2012	0.89

The correlation between BRCYX and ARCIX has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

Return for Risk

BRCYX vs. ARCIX — Risk / Return Rank

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

BRCYX

BRCYX Risk / Return Rank: 88
BRCYX Sharpe Ratio Rank: 91
BRCYX Sortino Ratio Rank: 76
BRCYX Omega Ratio Rank: 82
BRCYX Calmar Ratio Rank: 95
BRCYX Martin Ratio Rank: 95

ARCIX

ARCIX Risk / Return Rank: 79
ARCIX Sharpe Ratio Rank: 81
ARCIX Sortino Ratio Rank: 64
ARCIX Omega Ratio Rank: 72
ARCIX Calmar Ratio Rank: 91
ARCIX Martin Ratio Rank: 87

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.

BRCYX vs. ARCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Balanced-Risk Commodity Strategy Fund (BRCYX) and AQR Risk-Balanced Commodities Strategy Fund (ARCIX). 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.

	BRCYX	ARCIX	Difference
Sharpe ratio: Return per unit of total volatility	3.05	2.65	+0.40
Sortino ratio: Return per unit of downside risk	3.64	3.36	+0.28
Omega ratio: Gain probability vs. loss probability	1.55	1.48	+0.07
Calmar ratio: Return relative to maximum drawdown	5.76	4.73	+1.02
Martin ratio: Return relative to average drawdown	22.76	16.63	+6.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRCYX vs. ARCIX - Sharpe Ratio Comparison

The current BRCYX Sharpe Ratio is 3.05, which is comparable to the ARCIX Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of BRCYX and ARCIX, 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

	BRCYX	ARCIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.05	2.65	+0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.80	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.70	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.32	-0.12

Drawdowns

BRCYX vs. ARCIX - Drawdown Comparison

The maximum BRCYX drawdown since its inception was -60.05%, which is greater than ARCIX's maximum drawdown of -54.25%. Use the drawdown chart below to compare losses from any high point for BRCYX and ARCIX.

Drawdown Indicators

	BRCYX	ARCIX	Difference
Max Drawdown Largest peak-to-trough decline	-60.05%	-54.25%	-5.80%
Max Drawdown (1Y) Largest decline over 1 year	-9.10%	-8.36%	-0.74%
Max Drawdown (3Y) Largest decline over 3 years	-9.21%	-13.67%	+4.46%
Max Drawdown (5Y) Largest decline over 5 years	-20.42%	-20.29%	-0.13%
Max Drawdown (10Y) Largest decline over 10 years	-38.09%	-32.45%	-5.64%
Current Drawdown Current decline from peak	-4.94%	-4.69%	-0.25%
Average Drawdown Average peak-to-trough decline	-27.20%	-25.37%	-1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	2.37%	-0.08%

Volatility

BRCYX vs. ARCIX - Volatility Comparison

Invesco Balanced-Risk Commodity Strategy Fund (BRCYX) has a higher volatility of 5.29% compared to AQR Risk-Balanced Commodities Strategy Fund (ARCIX) at 4.88%. This indicates that BRCYX's price experiences larger fluctuations and is considered to be riskier than ARCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRCYX	ARCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.29%	4.88%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	15.37%	12.65%	+2.72%
Volatility (1Y) Calculated over the trailing 1-year period	17.19%	14.94%	+2.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.79%	19.02%	-3.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.25%	17.43%	-3.18%

BRCYX vs. ARCIX - Expense Ratio Comparison

BRCYX has a 1.06% expense ratio, which is higher than ARCIX's 1.00% expense ratio.

Dividends

BRCYX vs. ARCIX - Dividend Comparison

BRCYX's dividend yield for the trailing twelve months is around 10.35%, less than ARCIX's 11.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
ARCIX AQR Risk-Balanced Commodities Strategy Fund	11.14%	13.44%	2.11%	7.56%	9.51%	18.23%	0.09%	5.19%	0.67%	0.01%	4.82%
BRCYX Invesco Balanced-Risk Commodity Strategy Fund	10.35%	13.71%	4.95%	3.71%	9.93%	16.64%	0.00%	0.91%	0.25%	0.01%	2.74%

Frequently Asked Questions

Can I hold both BRCYX and ARCIX in my portfolio?

With a correlation of 0.92, BRCYX and ARCIX 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, BRCYX or ARCIX?

BRCYX has higher volatility (5.29%) compared to ARCIX (4.88%). In terms of maximum drawdown, BRCYX dropped -60.05% vs ARCIX's -54.25%.

Which has better risk-adjusted returns?

BRCYX currently has the higher Sharpe Ratio (3.05 vs 2.65), 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.