DRCVX vs. GRZZX

Last updated Jun 5, 2026

DRCVX (Comstock Capital Value Fund) and GRZZX (Grizzly Short Fund) are both Inverse Equities funds. Over the past 10 years, DRCVX returned -4.15%/yr vs -1.08%/yr for GRZZX. A 0.65 correlation means they provide meaningful diversification when combined. DRCVX charges 0.00%/yr vs 1.61%/yr for GRZZX.

Performance

DRCVX vs. GRZZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Comstock Capital Value Fund (DRCVX) and Grizzly Short Fund (GRZZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DRCVX achieves a 2.94% return, which is significantly higher than GRZZX's -4.85% return. Over the past 10 years, DRCVX has underperformed GRZZX with an annualized return of -4.15%, while GRZZX has yielded a comparatively higher -1.08% annualized return.

DRCVX

• 1D: -0.22%
• 1M: -0.00%
• YTD: 2.94%
• 6M: 3.09%
• 1Y: 9.67%
• 3Y*: 7.96%
• 5Y*: 5.10%
• 10Y*: -4.15%

GRZZX

• 1D: 1.27%
• 1M: -3.04%
• YTD: -4.85%
• 6M: -3.96%
• 1Y: -7.86%
• 3Y*: -7.01%
• 5Y*: -3.51%
• 10Y*: -1.08%

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

DRCVX vs. GRZZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DRCVX Comstock Capital Value Fund	2.94%	11.55%	2.02%	6.55%	4.13%	-2.16%	-5.36%	-25.76%	7.76%	-20.58%
GRZZX Grizzly Short Fund	-4.85%	-2.98%	-6.74%	-18.72%	22.43%	-15.87%	-41.33%	-29.43%	301.98%	-19.84%

Correlation

The correlation between DRCVX and GRZZX is -0.64, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.64
Correlation (3Y) Calculated over the trailing 3-year period	-0.67
Correlation (5Y) Calculated over the trailing 5-year period	-0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since Jan 3, 2001	0.65

The correlation between DRCVX and GRZZX shifts across timeframes, from -0.67 (3 years) to 0.65 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DRCVX vs. GRZZX — Risk / Return Rank

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

DRCVX

DRCVX Risk / Return Rank: 96
DRCVX Sharpe Ratio Rank: 93
DRCVX Sortino Ratio Rank: 96
DRCVX Omega Ratio Rank: 94
DRCVX Calmar Ratio Rank: 99
DRCVX Martin Ratio Rank: 98

GRZZX

GRZZX Risk / Return Rank: 1
GRZZX Sharpe Ratio Rank: 1
GRZZX Sortino Ratio Rank: 1
GRZZX Omega Ratio Rank: 1
GRZZX Calmar Ratio Rank: 1
GRZZX Martin Ratio Rank: 1

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.

DRCVX vs. GRZZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Comstock Capital Value Fund (DRCVX) and Grizzly Short Fund (GRZZX). 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.

	DRCVX	GRZZX	Difference
Sharpe ratio: Return per unit of total volatility	3.18	-0.59	+3.77
Sortino ratio: Return per unit of downside risk	5.19	-0.75	+5.94
Omega ratio: Gain probability vs. loss probability	1.77	0.92	+0.85
Calmar ratio: Return relative to maximum drawdown	10.61	-0.58	+11.19
Martin ratio: Return relative to average drawdown	38.30	-1.32	+39.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DRCVX vs. GRZZX - Sharpe Ratio Comparison

The current DRCVX Sharpe Ratio is 3.18, which is higher than the GRZZX Sharpe Ratio of -0.59. The chart below compares the historical Sharpe Ratios of DRCVX and GRZZX, 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

	DRCVX	GRZZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.18	-0.59	+3.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.12	-0.18	+1.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.42	-0.01	-0.41
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	-0.11	+0.10

Drawdowns

DRCVX vs. GRZZX - Drawdown Comparison

The maximum DRCVX drawdown since its inception was -97.47%, which is greater than GRZZX's maximum drawdown of -91.80%. Use the drawdown chart below to compare losses from any high point for DRCVX and GRZZX.

Drawdown Indicators

	DRCVX	GRZZX	Difference
Max Drawdown Largest peak-to-trough decline	-97.47%	-91.80%	-5.67%
Max Drawdown (1Y) Largest decline over 1 year	-0.89%	-13.89%	+13.00%
Max Drawdown (3Y) Largest decline over 3 years	-3.82%	-29.48%	+25.66%
Max Drawdown (5Y) Largest decline over 5 years	-4.08%	-37.65%	+33.57%
Max Drawdown (10Y) Largest decline over 10 years	-54.27%	-72.45%	+18.18%
Current Drawdown Current decline from peak	-96.62%	-89.39%	-7.23%
Average Drawdown Average peak-to-trough decline	-65.89%	-69.36%	+3.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.25%	6.09%	-5.84%

Volatility

DRCVX vs. GRZZX - Volatility Comparison

The current volatility for Comstock Capital Value Fund (DRCVX) is 0.67%, while Grizzly Short Fund (GRZZX) has a volatility of 3.38%. This indicates that DRCVX experiences smaller price fluctuations and is considered to be less risky than GRZZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DRCVX	GRZZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	3.38%	-2.71%
Volatility (6M) Calculated over the trailing 6-month period	1.81%	10.20%	-8.39%
Volatility (1Y) Calculated over the trailing 1-year period	3.02%	13.78%	-10.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.56%	19.54%	-14.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.80%	96.65%	-86.85%

DRCVX vs. GRZZX - Expense Ratio Comparison

DRCVX has a 0.00% expense ratio, which is lower than GRZZX's 1.61% expense ratio.

Dividends

DRCVX vs. GRZZX - Dividend Comparison

DRCVX's dividend yield for the trailing twelve months is around 1.91%, less than GRZZX's 5.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
DRCVX Comstock Capital Value Fund	1.91%	1.96%	0.00%	1.71%	0.00%	0.00%	0.00%	0.00%
GRZZX Grizzly Short Fund	5.44%	6.00%	10.30%	6.61%	0.00%	0.00%	0.00%	1.14%

Frequently Asked Questions

Can I hold both DRCVX and GRZZX in my portfolio?

DRCVX and GRZZX have a correlation of -0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DRCVX or GRZZX?

GRZZX has higher volatility (3.38%) compared to DRCVX (0.67%). In terms of maximum drawdown, DRCVX dropped -97.47% vs GRZZX's -91.80%.

Which has better risk-adjusted returns?

DRCVX currently has the higher Sharpe Ratio (3.18 vs -0.59), 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.