FCGCX vs. BRCAX

Last updated Jun 24, 2026

FCGCX (Fidelity Advisor Global Commodity Stock Fund Class C) and BRCAX (Invesco Balanced-Risk Commodity Strategy Fund Class A) are both Commodities funds. Over the past 10 years, FCGCX returned 11.48%/yr vs 6.60%/yr for BRCAX. A 0.57 correlation means they provide meaningful diversification when combined. FCGCX charges 1.97%/yr vs 1.40%/yr for BRCAX.

Performance

FCGCX vs. BRCAX - Performance Comparison

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

Returns By Period

In the year-to-date period, FCGCX achieves a 15.41% return, which is significantly lower than BRCAX's 20.15% return. Over the past 10 years, FCGCX has outperformed BRCAX with an annualized return of 11.48%, while BRCAX has yielded a comparatively lower 6.60% annualized return.

FCGCX

• 1D: 0.31%
• 1M: -5.64%
• YTD: 15.41%
• 6M: 14.75%
• 1Y: 35.13%
• 3Y*: 16.37%
• 5Y*: 11.83%
• 10Y*: 11.48%

BRCAX

• 1D: -0.76%
• 1M: -10.26%
• YTD: 20.15%
• 6M: 19.24%
• 1Y: 33.60%
• 3Y*: 15.30%
• 5Y*: 10.34%
• 10Y*: 6.60%

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

FCGCX vs. BRCAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCGCX Fidelity Advisor Global Commodity Stock Fund Class C	15.41%	27.29%	1.90%	-6.06%	19.45%	24.85%	4.96%	16.74%	-14.07%	17.33%
BRCAX Invesco Balanced-Risk Commodity Strategy Fund Class A	20.15%	18.41%	5.47%	-3.44%	7.77%	19.18%	7.75%	4.20%	-12.18%	4.49%

Correlation

The correlation between FCGCX and BRCAX is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Nov 30, 2010	0.57

The correlation between FCGCX and BRCAX has been stable across timeframes, ranging from 0.57 to 0.60 - a consistent structural relationship.

Return for Risk

FCGCX vs. BRCAX — Risk / Return Rank

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

FCGCX

FCGCX Risk / Return Rank: 64
FCGCX Sharpe Ratio Rank: 56
FCGCX Sortino Ratio Rank: 47
FCGCX Omega Ratio Rank: 48
FCGCX Calmar Ratio Rank: 86
FCGCX Martin Ratio Rank: 81

BRCAX

BRCAX Risk / Return Rank: 45
BRCAX Sharpe Ratio Rank: 47
BRCAX Sortino Ratio Rank: 37
BRCAX Omega Ratio Rank: 44
BRCAX Calmar Ratio Rank: 44
BRCAX Martin Ratio Rank: 53

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.

FCGCX vs. BRCAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Global Commodity Stock Fund Class C (FCGCX) and Invesco Balanced-Risk Commodity Strategy Fund Class A (BRCAX). 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.

	FCGCX	BRCAX	Difference
Sharpe ratio: Return per unit of total volatility	2.04	1.86	+0.18
Sortino ratio: Return per unit of downside risk	2.67	2.36	+0.31
Omega ratio: Gain probability vs. loss probability	1.35	1.33	+0.02
Calmar ratio: Return relative to maximum drawdown	3.94	2.40	+1.54
Martin ratio: Return relative to average drawdown	14.12	10.21	+3.91

FCGCX vs. BRCAX - Sharpe Ratio Comparison

The current FCGCX Sharpe Ratio is 2.04, which is comparable to the BRCAX Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of FCGCX and BRCAX, 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

FCGCX vs. BRCAX - Drawdown Comparison

The maximum FCGCX drawdown since its inception was -59.67%, roughly equal to the maximum BRCAX drawdown of -60.98%. Use the drawdown chart below to compare losses from any high point for FCGCX and BRCAX.

Drawdown Indicators

	FCGCX	BRCAX	Difference
Max Drawdown Largest peak-to-trough decline	-59.67%	-60.98%	+1.31%
Max Drawdown (1Y) Largest decline over 1 year	-8.79%	-13.71%	+4.92%
Max Drawdown (3Y) Largest decline over 3 years	-19.96%	-13.71%	-6.25%
Max Drawdown (5Y) Largest decline over 5 years	-27.43%	-20.66%	-6.77%
Max Drawdown (10Y) Largest decline over 10 years	-49.31%	-38.44%	-10.87%
Current Drawdown Current decline from peak	-8.51%	-13.71%	+5.20%
Average Drawdown Average peak-to-trough decline	-21.16%	-28.43%	+7.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	3.27%	-0.82%

Volatility

FCGCX vs. BRCAX - Volatility Comparison

Fidelity Advisor Global Commodity Stock Fund Class C (FCGCX) has a higher volatility of 5.38% compared to Invesco Balanced-Risk Commodity Strategy Fund Class A (BRCAX) at 4.52%. This indicates that FCGCX's price experiences larger fluctuations and is considered to be riskier than BRCAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCGCX	BRCAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.38%	4.52%	+0.86%
Volatility (6M) Calculated over the trailing 6-month period	13.88%	15.87%	-1.99%
Volatility (1Y) Calculated over the trailing 1-year period	17.03%	17.77%	-0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.39%	15.72%	+5.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.44%	14.35%	+8.09%

FCGCX vs. BRCAX - Expense Ratio Comparison

FCGCX has a 1.97% expense ratio, which is higher than BRCAX's 1.40% expense ratio.

Dividends

FCGCX vs. BRCAX - Dividend Comparison

FCGCX's dividend yield for the trailing twelve months is around 1.28%, less than BRCAX's 11.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRCAX Invesco Balanced-Risk Commodity Strategy Fund Class A	11.66%	14.02%	4.85%	3.80%	9.98%	16.92%	0.00%	0.89%	0.17%	0.00%	2.58%	0.00%
FCGCX Fidelity Advisor Global Commodity Stock Fund Class C	1.28%	1.48%	1.38%	0.80%	1.09%	2.41%	0.59%	1.94%	1.11%	0.36%	0.71%	1.49%

Frequently Asked Questions

Can I hold both FCGCX and BRCAX in my portfolio?

FCGCX and BRCAX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCGCX or BRCAX?

FCGCX has higher volatility (5.38%) compared to BRCAX (4.52%). In terms of maximum drawdown, FCGCX dropped -59.67% vs BRCAX's -60.98%.

Which has better risk-adjusted returns?

FCGCX currently has the higher Sharpe Ratio (2.04 vs 1.86), 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.