CCSZX vs. JCRAX

Last updated Aug 4, 2026

CCSZX (Columbia Commodity Strategy Fund) and JCRAX (ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund) are both Commodities funds. Over the past 10 years, CCSZX returned 8.11%/yr vs 8.29%/yr for JCRAX. Their correlation of 0.88 means they have usually moved in the same direction. CCSZX charges 0.86%/yr vs 1.36%/yr for JCRAX.

Performance

CCSZX vs. JCRAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Commodity Strategy Fund (CCSZX) and ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CCSZX achieves a 27.43% return, which is significantly higher than JCRAX's 18.52% return. Both investments have delivered pretty close results over the past 10 years, with CCSZX having a 8.11% annualized return and JCRAX not far ahead at 8.29%.

CCSZX

• 1D: 0.08%
• 1M: 6.51%
• 6M: 19.90%
• YTD: 27.43%
• 1Y: 40.78%
• 3Y*: 14.20%
• 5Y*: 11.93%
• 10Y*: 8.11%
• ALL TIME*: 2.19%

JCRAX

• 1D: -0.21%
• 1M: 5.61%
• 6M: 10.22%
• YTD: 18.52%
• 1Y: 37.93%
• 3Y*: 12.94%
• 5Y*: 10.62%
• 10Y*: 8.29%
• ALL TIME*: 3.55%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CCSZX Columbia Commodity Strategy Fund	$0.00	$0.00	$0.00
JCRAX ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund	$0.00	$0.00	$0.00

CCSZX vs. JCRAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CCSZX Columbia Commodity Strategy Fund	27.43%	15.36%	7.11%	-6.90%	15.80%	31.34%	-1.17%	7.45%	-14.09%	1.71%
JCRAX ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund	18.52%	25.30%	1.32%	-7.37%	12.82%	29.21%	2.15%	11.00%	-14.54%	4.58%

Correlation

The correlation between CCSZX and JCRAX is 0.84, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.84
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.89
Correlation (All Time) Calculated using the full available price history since Jun 18, 2012	0.88

The correlation between CCSZX and JCRAX has been stable across timeframes, ranging from 0.84 to 0.91 - a consistent structural relationship.

Return for Risk

CCSZX vs. JCRAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CCSZX

CCSZX Risk / Return Rank: 88
CCSZX Sharpe Ratio Rank: 93
CCSZX Sortino Ratio Rank: 85
CCSZX Omega Ratio Rank: 86
CCSZX Calmar Ratio Rank: 89
CCSZX Martin Ratio Rank: 86

JCRAX

JCRAX Risk / Return Rank: 84
JCRAX Sharpe Ratio Rank: 94
JCRAX Sortino Ratio Rank: 87
JCRAX Omega Ratio Rank: 86
JCRAX Calmar Ratio Rank: 82
JCRAX Martin Ratio Rank: 71

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CCSZX vs. JCRAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Commodity Strategy Fund (CCSZX) and ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX). 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.

	CCSZX	JCRAX	Difference
Sharpe ratio: Return per unit of total volatility	2.42	2.53	-0.11
Sortino ratio: Return per unit of downside risk	3.07	3.19	-0.12
Omega ratio: Gain probability vs. loss probability	1.43	1.43	0.00
Calmar ratio: Return relative to maximum drawdown	3.39	2.86	+0.53
Martin ratio: Return relative to average drawdown	11.47	9.42	+2.06

CCSZX vs. JCRAX - Sharpe Ratio Comparison

The current CCSZX Sharpe Ratio is 2.42, which is comparable to the JCRAX Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of CCSZX and JCRAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CCSZX vs. JCRAX - Drawdown Comparison

The maximum CCSZX drawdown since its inception was -61.34%, roughly equal to the maximum JCRAX drawdown of -62.03%. Use the drawdown chart below to compare losses from any high point for CCSZX and JCRAX.

Drawdown Indicators

	CCSZX	JCRAX	Difference
Max Drawdown Largest peak-to-trough decline	-61.34%	-62.03%	+0.69%
Max Drawdown (1Y) Largest decline over 1 year	-11.97%	-13.01%	+1.04%
Max Drawdown (3Y) Largest decline over 3 years	-11.97%	-13.01%	+1.04%
Max Drawdown (5Y) Largest decline over 5 years	-27.86%	-26.60%	-1.26%
Max Drawdown (10Y) Largest decline over 10 years	-34.16%	-43.14%	+8.98%
Current Drawdown Current decline from peak	-5.20%	-7.51%	+2.31%
Average Drawdown Average peak-to-trough decline	-31.09%	-26.21%	-4.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	3.94%	-0.37%

Volatility

CCSZX vs. JCRAX - Volatility Comparison

The current volatility for Columbia Commodity Strategy Fund (CCSZX) is 3.54%, while ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX) has a volatility of 4.03%. This indicates that CCSZX experiences smaller price fluctuations and is considered to be less risky than JCRAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CCSZX	JCRAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	4.03%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	14.10%	11.63%	+2.47%
Volatility (1Y) Calculated over the trailing 1-year period	16.91%	14.79%	+2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.86%	20.66%	-3.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.88%	18.07%	-3.19%

CCSZX vs. JCRAX - Expense Ratio Comparison

CCSZX has a 0.86% expense ratio, which is lower than JCRAX's 1.36% expense ratio.

Dividends

CCSZX vs. JCRAX - Dividend Comparison

CCSZX's dividend yield for the trailing twelve months is around 2.35%, less than JCRAX's 7.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CCSZX Columbia Commodity Strategy Fund	2.35%	3.00%	8.84%	4.42%	94.73%	36.39%	0.13%	1.09%	18.52%	0.09%	0.00%
JCRAX ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund	7.43%	8.80%	2.80%	3.29%	7.08%	22.43%	0.29%	0.90%	3.26%	2.44%	0.05%

Frequently Asked Questions

Can I hold both CCSZX and JCRAX in my portfolio?

CCSZX and JCRAX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CCSZX or JCRAX?

JCRAX has higher volatility (4.03%) compared to CCSZX (3.54%). In terms of maximum drawdown, CCSZX dropped -61.34% vs JCRAX's -62.03%.

Which has better risk-adjusted returns?

JCRAX currently has the higher Sharpe Ratio (2.53 vs 2.42), 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.