FFGAX vs. ARCIX

Last updated Jun 4, 2026

FFGAX (Fidelity Advisor Global Commodity Stock Fund Class A) and ARCIX (AQR Risk-Balanced Commodities Strategy Fund) are both Commodities funds. Over the past 10 years, FFGAX returned 12.79%/yr vs 12.31%/yr for ARCIX. A 0.56 correlation means they provide meaningful diversification when combined. FFGAX charges 1.23%/yr vs 1.00%/yr for ARCIX.

Performance

FFGAX vs. ARCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Global Commodity Stock Fund Class A (FFGAX) 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, FFGAX achieves a 24.50% return, which is significantly higher than ARCIX's 21.57% return. Both investments have delivered pretty close results over the past 10 years, with FFGAX having a 12.79% annualized return and ARCIX not far behind at 12.31%.

FFGAX

• 1D: 1.30%
• 1M: 0.76%
• YTD: 24.50%
• 6M: 26.92%
• 1Y: 51.82%
• 3Y*: 19.78%
• 5Y*: 13.39%
• 10Y*: 12.79%

ARCIX

• 1D: 0.18%
• 1M: -1.23%
• YTD: 21.57%
• 6M: 23.81%
• 1Y: 40.49%
• 3Y*: 18.04%
• 5Y*: 15.82%
• 10Y*: 12.31%

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

FFGAX vs. ARCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFGAX Fidelity Advisor Global Commodity Stock Fund Class A	24.50%	28.27%	2.63%	-5.35%	20.37%	25.70%	5.78%	17.54%	-13.44%	17.38%
ARCIX AQR Risk-Balanced Commodities Strategy Fund	21.57%	20.99%	7.43%	-0.22%	21.39%	39.74%	8.15%	18.15%	-17.56%	10.41%

Correlation

The correlation between FFGAX and ARCIX is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jul 10, 2012	0.56

The correlation between FFGAX and ARCIX has been stable across timeframes, ranging from 0.56 to 0.62 - a consistent structural relationship.

Return for Risk

FFGAX vs. ARCIX — Risk / Return Rank

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

FFGAX

FFGAX Risk / Return Rank: 90
FFGAX Sharpe Ratio Rank: 93
FFGAX Sortino Ratio Rank: 84
FFGAX Omega Ratio Rank: 81
FFGAX Calmar Ratio Rank: 97
FFGAX Martin Ratio Rank: 97

ARCIX

ARCIX Risk / Return Rank: 82
ARCIX Sharpe Ratio Rank: 85
ARCIX Sortino Ratio Rank: 70
ARCIX Omega Ratio Rank: 76
ARCIX Calmar Ratio Rank: 92
ARCIX Martin Ratio Rank: 88

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.

FFGAX vs. ARCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Global Commodity Stock Fund Class A (FFGAX) 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.

	FFGAX	ARCIX	Difference
Sharpe ratio: Return per unit of total volatility	3.18	2.76	+0.42
Sortino ratio: Return per unit of downside risk	4.01	3.48	+0.52
Omega ratio: Gain probability vs. loss probability	1.54	1.50	+0.04
Calmar ratio: Return relative to maximum drawdown	7.02	4.92	+2.10
Martin ratio: Return relative to average drawdown	25.39	17.44	+7.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFGAX vs. ARCIX - Sharpe Ratio Comparison

The current FFGAX Sharpe Ratio is 3.18, which is comparable to the ARCIX Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of FFGAX 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

	FFGAX	ARCIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.18	2.76	+0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.84	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.71	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.32	+0.02

Drawdowns

FFGAX vs. ARCIX - Drawdown Comparison

The maximum FFGAX drawdown since its inception was -57.71%, which is greater than ARCIX's maximum drawdown of -54.25%. Use the drawdown chart below to compare losses from any high point for FFGAX and ARCIX.

Drawdown Indicators

	FFGAX	ARCIX	Difference
Max Drawdown Largest peak-to-trough decline	-57.71%	-54.25%	-3.46%
Max Drawdown (1Y) Largest decline over 1 year	-7.39%	-8.36%	+0.97%
Max Drawdown (3Y) Largest decline over 3 years	-19.46%	-13.67%	-5.79%
Max Drawdown (5Y) Largest decline over 5 years	-27.29%	-20.29%	-7.00%
Max Drawdown (10Y) Largest decline over 10 years	-48.61%	-32.45%	-16.16%
Current Drawdown Current decline from peak	-1.58%	-3.92%	+2.34%
Average Drawdown Average peak-to-trough decline	-19.82%	-25.38%	+5.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.36%	-0.32%

Volatility

FFGAX vs. ARCIX - Volatility Comparison

The current volatility for Fidelity Advisor Global Commodity Stock Fund Class A (FFGAX) is 4.36%, while AQR Risk-Balanced Commodities Strategy Fund (ARCIX) has a volatility of 4.88%. This indicates that FFGAX experiences smaller price fluctuations and is considered to be less risky than ARCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFGAX	ARCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	4.88%	-0.52%
Volatility (6M) Calculated over the trailing 6-month period	13.28%	12.62%	+0.66%
Volatility (1Y) Calculated over the trailing 1-year period	16.36%	14.97%	+1.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.39%	19.04%	+2.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.46%	17.43%	+5.03%

FFGAX vs. ARCIX - Expense Ratio Comparison

FFGAX has a 1.23% expense ratio, which is higher than ARCIX's 1.00% expense ratio.

Dividends

FFGAX vs. ARCIX - Dividend Comparison

FFGAX's dividend yield for the trailing twelve months is around 1.80%, less than ARCIX's 11.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARCIX AQR Risk-Balanced Commodities Strategy Fund	11.05%	13.44%	2.11%	7.56%	9.51%	18.23%	0.09%	5.19%	0.67%	0.01%	4.82%	0.00%
FFGAX Fidelity Advisor Global Commodity Stock Fund Class A	1.80%	2.24%	2.32%	1.79%	1.68%	3.16%	1.30%	2.84%	1.93%	0.36%	1.29%	2.51%

Frequently Asked Questions

Can I hold both FFGAX and ARCIX in my portfolio?

FFGAX and ARCIX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFGAX or ARCIX?

ARCIX has higher volatility (4.88%) compared to FFGAX (4.36%). In terms of maximum drawdown, FFGAX dropped -57.71% vs ARCIX's -54.25%.

Which has better risk-adjusted returns?

FFGAX currently has the higher Sharpe Ratio (3.18 vs 2.76), 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.