FFGIX vs. ARCNX

Last updated Jun 4, 2026

FFGIX (Fidelity Advisor Global Commodity Stock Fund Class I) and ARCNX (AQR Risk-Balanced Commodities Strategy Fund Class N) are both Commodities funds. Over the past 10 years, FFGIX returned 13.10%/yr vs 12.04%/yr for ARCNX. A 0.56 correlation means they provide meaningful diversification when combined. FFGIX charges 0.93%/yr vs 1.28%/yr for ARCNX.

Performance

FFGIX vs. ARCNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Global Commodity Stock Fund Class I (FFGIX) and AQR Risk-Balanced Commodities Strategy Fund Class N (ARCNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFGIX achieves a 24.62% return, which is significantly higher than ARCNX's 21.46% return. Over the past 10 years, FFGIX has outperformed ARCNX with an annualized return of 13.10%, while ARCNX has yielded a comparatively lower 12.04% annualized return.

FFGIX

• 1D: 1.30%
• 1M: 0.79%
• YTD: 24.62%
• 6M: 27.07%
• 1Y: 52.25%
• 3Y*: 20.07%
• 5Y*: 13.69%
• 10Y*: 13.10%

ARCNX

• 1D: 0.18%
• 1M: -1.26%
• YTD: 21.46%
• 6M: 23.75%
• 1Y: 40.10%
• 3Y*: 17.77%
• 5Y*: 15.55%
• 10Y*: 12.04%

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

FFGIX vs. ARCNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFGIX Fidelity Advisor Global Commodity Stock Fund Class I	24.62%	28.57%	2.97%	-5.17%	20.69%	26.14%	6.12%	18.02%	-13.14%	17.29%
ARCNX AQR Risk-Balanced Commodities Strategy Fund Class N	21.46%	20.76%	7.19%	-0.50%	20.97%	39.48%	8.11%	17.68%	-17.83%	10.20%

Correlation

The correlation between FFGIX and ARCNX is 0.61, 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	0.61
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 FFGIX and ARCNX has been stable across timeframes, ranging from 0.56 to 0.61 - a consistent structural relationship.

Return for Risk

FFGIX vs. ARCNX — Risk / Return Rank

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

FFGIX

FFGIX Risk / Return Rank: 91
FFGIX Sharpe Ratio Rank: 93
FFGIX Sortino Ratio Rank: 85
FFGIX Omega Ratio Rank: 81
FFGIX Calmar Ratio Rank: 97
FFGIX Martin Ratio Rank: 97

ARCNX

ARCNX Risk / Return Rank: 81
ARCNX Sharpe Ratio Rank: 84
ARCNX Sortino Ratio Rank: 68
ARCNX Omega Ratio Rank: 75
ARCNX Calmar Ratio Rank: 92
ARCNX 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.

FFGIX vs. ARCNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Global Commodity Stock Fund Class I (FFGIX) and AQR Risk-Balanced Commodities Strategy Fund Class N (ARCNX). 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.

	FFGIX	ARCNX	Difference
Sharpe ratio: Return per unit of total volatility	3.20	2.74	+0.47
Sortino ratio: Return per unit of downside risk	4.03	3.44	+0.59
Omega ratio: Gain probability vs. loss probability	1.54	1.49	+0.05
Calmar ratio: Return relative to maximum drawdown	7.08	4.92	+2.16
Martin ratio: Return relative to average drawdown	25.56	17.26	+8.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFGIX vs. ARCNX - Sharpe Ratio Comparison

The current FFGIX Sharpe Ratio is 3.20, which is comparable to the ARCNX Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of FFGIX and ARCNX, 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

	FFGIX	ARCNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.20	2.74	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.82	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.69	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.31	+0.05

Drawdowns

FFGIX vs. ARCNX - Drawdown Comparison

The maximum FFGIX drawdown since its inception was -57.17%, roughly equal to the maximum ARCNX drawdown of -55.17%. Use the drawdown chart below to compare losses from any high point for FFGIX and ARCNX.

Drawdown Indicators

	FFGIX	ARCNX	Difference
Max Drawdown Largest peak-to-trough decline	-57.17%	-55.17%	-2.00%
Max Drawdown (1Y) Largest decline over 1 year	-7.39%	-8.28%	+0.89%
Max Drawdown (3Y) Largest decline over 3 years	-19.27%	-13.65%	-5.62%
Max Drawdown (5Y) Largest decline over 5 years	-27.23%	-20.30%	-6.93%
Max Drawdown (10Y) Largest decline over 10 years	-48.29%	-32.80%	-15.49%
Current Drawdown Current decline from peak	-1.58%	-3.94%	+2.36%
Average Drawdown Average peak-to-trough decline	-19.23%	-25.96%	+6.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.36%	-0.32%

Volatility

FFGIX vs. ARCNX - Volatility Comparison

The current volatility for Fidelity Advisor Global Commodity Stock Fund Class I (FFGIX) is 4.31%, while AQR Risk-Balanced Commodities Strategy Fund Class N (ARCNX) has a volatility of 4.91%. This indicates that FFGIX experiences smaller price fluctuations and is considered to be less risky than ARCNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFGIX	ARCNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	4.91%	-0.60%
Volatility (6M) Calculated over the trailing 6-month period	13.28%	12.63%	+0.65%
Volatility (1Y) Calculated over the trailing 1-year period	16.35%	14.97%	+1.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.37%	19.05%	+2.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.44%	17.43%	+5.01%

FFGIX vs. ARCNX - Expense Ratio Comparison

FFGIX has a 0.93% expense ratio, which is lower than ARCNX's 1.28% expense ratio.

Dividends

FFGIX vs. ARCNX - Dividend Comparison

FFGIX's dividend yield for the trailing twelve months is around 1.95%, less than ARCNX's 11.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARCNX AQR Risk-Balanced Commodities Strategy Fund Class N	11.17%	13.57%	1.89%	7.45%	9.45%	18.31%	0.09%	4.98%	0.29%	0.01%	4.69%	0.00%
FFGIX Fidelity Advisor Global Commodity Stock Fund Class I	1.95%	2.44%	2.61%	2.08%	1.90%	3.43%	1.53%	3.21%	2.41%	0.36%	1.65%	2.96%

Frequently Asked Questions

Can I hold both FFGIX and ARCNX in my portfolio?

FFGIX and ARCNX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFGIX or ARCNX?

ARCNX has higher volatility (4.91%) compared to FFGIX (4.31%). In terms of maximum drawdown, FFGIX dropped -57.17% vs ARCNX's -55.17%.

Which has better risk-adjusted returns?

FFGIX currently has the higher Sharpe Ratio (3.20 vs 2.74), 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.