CFAGX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Commerce MidCap Growth Fund (CFAGX) and S&P 500 Index (^GSPC).

CFAGX is managed by Commerce. It was launched on Dec 12, 1994.

Performance

CFAGX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Commerce MidCap Growth Fund (CFAGX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

CFAGX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CFAGX Commerce MidCap Growth Fund	-4.16%	1.58%	11.77%	17.74%	-20.31%	19.12%	23.78%	34.41%	-4.55%	23.39%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, CFAGX achieves a -4.16% return, which is significantly lower than ^GSPC's -3.95% return. Over the past 10 years, CFAGX has underperformed ^GSPC with an annualized return of 9.76%, while ^GSPC has yielded a comparatively higher 12.24% annualized return.

CFAGX

• 1D: 2.92%
• 1M: -6.22%
• YTD: -4.16%
• 6M: -7.05%
• 1Y: 1.88%
• 3Y*: 6.84%
• 5Y*: 2.85%
• 10Y*: 9.76%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

CFAGX vs. ^GSPC — Risk / Return Rank

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

CFAGX

CFAGX Risk / Return Rank: 7
CFAGX Sharpe Ratio Rank: 6
CFAGX Sortino Ratio Rank: 6
CFAGX Omega Ratio Rank: 6
CFAGX Calmar Ratio Rank: 8
CFAGX Martin Ratio Rank: 8

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

CFAGX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Commerce MidCap Growth Fund (CFAGX) and S&P 500 Index (^GSPC). 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.

	CFAGX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.13	0.92	-0.78
Sortino ratio Return per unit of downside risk	0.34	1.41	-1.07
Omega ratio Gain probability vs. loss probability	1.04	1.21	-0.17
Calmar ratio Return relative to maximum drawdown	0.23	1.41	-1.19
Martin ratio Return relative to average drawdown	0.63	6.61	-5.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CFAGX vs. ^GSPC - Sharpe Ratio Comparison

The current CFAGX Sharpe Ratio is 0.13, which is lower than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of CFAGX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CFAGX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.13	0.92	-0.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	0.61	-0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.68	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.46	-0.10

Correlation

The correlation between CFAGX and ^GSPC is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

CFAGX vs. ^GSPC - Drawdown Comparison

The maximum CFAGX drawdown since its inception was -61.05%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for CFAGX and ^GSPC.

Drawdown Indicators

	CFAGX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-61.05%	-56.78%	-4.27%
Max Drawdown (1Y) Largest decline over 1 year	-13.01%	-12.14%	-0.87%
Max Drawdown (5Y) Largest decline over 5 years	-28.99%	-25.43%	-3.56%
Max Drawdown (10Y) Largest decline over 10 years	-34.23%	-33.92%	-0.31%
Current Drawdown Current decline from peak	-10.32%	-5.78%	-4.54%
Average Drawdown Average peak-to-trough decline	-14.96%	-10.75%	-4.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.70%	2.60%	+2.10%

Volatility

CFAGX vs. ^GSPC - Volatility Comparison

Commerce MidCap Growth Fund (CFAGX) has a higher volatility of 5.88% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that CFAGX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CFAGX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.88%	5.37%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	11.06%	9.55%	+1.51%
Volatility (1Y) Calculated over the trailing 1-year period	20.11%	18.33%	+1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.38%	16.90%	+1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.42%	18.05%	+0.37%