FTGC vs. MALOX

Last updated Jun 9, 2026

FTGC (First Trust Global Tactical Commodity Strategy Fund) and MALOX (BlackRock Global Allocation Fund) are both funds - FTGC is a Commodities fund actively managed by First Trust, while MALOX is a Global Allocation fund managed by BlackRock. Over the past 10 years, FTGC returned 7.34%/yr vs 8.28%/yr for MALOX. At a 0.33 correlation, their price movements are largely independent. FTGC charges 0.95%/yr vs 0.81%/yr for MALOX.

Performance

FTGC vs. MALOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Global Tactical Commodity Strategy Fund (FTGC) and BlackRock Global Allocation Fund (MALOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTGC achieves a 23.51% return, which is significantly higher than MALOX's 5.74% return. Over the past 10 years, FTGC has underperformed MALOX with an annualized return of 7.34%, while MALOX has yielded a comparatively higher 8.28% annualized return.

FTGC

• 1D: -0.03%
• 1M: -4.09%
• YTD: 23.51%
• 6M: 23.08%
• 1Y: 35.61%
• 3Y*: 16.53%
• 5Y*: 12.36%
• 10Y*: 7.34%

MALOX

• 1D: -2.27%
• 1M: -0.32%
• YTD: 5.74%
• 6M: 6.99%
• 1Y: 17.22%
• 3Y*: 13.89%
• 5Y*: 5.47%
• 10Y*: 8.28%

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

FTGC vs. MALOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTGC First Trust Global Tactical Commodity Strategy Fund	23.51%	14.61%	9.96%	-5.36%	17.36%	27.95%	2.17%	6.40%	-12.75%	2.73%
MALOX BlackRock Global Allocation Fund	5.74%	19.63%	9.23%	12.63%	-15.86%	6.69%	24.93%	17.56%	-7.40%	13.59%

Correlation

The correlation between FTGC and MALOX is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.33

Over the past year, the correlation between FTGC and MALOX has dropped to 0.01 - well below their long-term average of 0.33, suggesting their price drivers have been diverging.

Return for Risk

FTGC vs. MALOX — Risk / Return Rank

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

FTGC

FTGC Risk / Return Rank: 79
FTGC Sharpe Ratio Rank: 79
FTGC Sortino Ratio Rank: 74
FTGC Omega Ratio Rank: 75
FTGC Calmar Ratio Rank: 87
FTGC Martin Ratio Rank: 80

MALOX

MALOX Risk / Return Rank: 41
MALOX Sharpe Ratio Rank: 41
MALOX Sortino Ratio Rank: 41
MALOX Omega Ratio Rank: 41
MALOX Calmar Ratio Rank: 35
MALOX Martin Ratio Rank: 46

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.

FTGC vs. MALOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Global Tactical Commodity Strategy Fund (FTGC) and BlackRock Global Allocation Fund (MALOX). 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.

	FTGC	MALOX	Difference
Sharpe ratio: Return per unit of total volatility	2.27	1.79	+0.48
Sortino ratio: Return per unit of downside risk	2.97	2.54	+0.44
Omega ratio: Gain probability vs. loss probability	1.40	1.33	+0.07
Calmar ratio: Return relative to maximum drawdown	4.52	2.12	+2.40
Martin ratio: Return relative to average drawdown	14.31	9.13	+5.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTGC vs. MALOX - Sharpe Ratio Comparison

The current FTGC Sharpe Ratio is 2.27, which is comparable to the MALOX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of FTGC and MALOX, 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

	FTGC	MALOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	1.79	+0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.50	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.77	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.93	-0.71

Drawdowns

FTGC vs. MALOX - Drawdown Comparison

The maximum FTGC drawdown since its inception was -59.47%, which is greater than MALOX's maximum drawdown of -32.83%. Use the drawdown chart below to compare losses from any high point for FTGC and MALOX.

Drawdown Indicators

	FTGC	MALOX	Difference
Max Drawdown Largest peak-to-trough decline	-59.47%	-32.83%	-26.64%
Max Drawdown (1Y) Largest decline over 1 year	-7.91%	-8.31%	+0.40%
Max Drawdown (3Y) Largest decline over 3 years	-10.39%	-10.04%	-0.35%
Max Drawdown (5Y) Largest decline over 5 years	-22.64%	-22.76%	+0.12%
Max Drawdown (10Y) Largest decline over 10 years	-35.91%	-22.76%	-13.15%
Current Drawdown Current decline from peak	-7.38%	-2.31%	-5.07%
Average Drawdown Average peak-to-trough decline	-27.40%	-3.92%	-23.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	1.93%	+0.57%

Volatility

FTGC vs. MALOX - Volatility Comparison

First Trust Global Tactical Commodity Strategy Fund (FTGC) has a higher volatility of 4.76% compared to BlackRock Global Allocation Fund (MALOX) at 3.53%. This indicates that FTGC's price experiences larger fluctuations and is considered to be riskier than MALOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTGC	MALOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.76%	3.53%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	13.37%	8.22%	+5.15%
Volatility (1Y) Calculated over the trailing 1-year period	15.78%	9.87%	+5.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.97%	10.91%	+5.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.72%	10.73%	+3.99%

FTGC vs. MALOX - Expense Ratio Comparison

FTGC has a 0.95% expense ratio, which is higher than MALOX's 0.81% expense ratio.

Dividends

FTGC vs. MALOX - Dividend Comparison

FTGC's dividend yield for the trailing twelve months is around 15.52%, more than MALOX's 8.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTGC First Trust Global Tactical Commodity Strategy Fund	15.52%	17.74%	3.05%	3.34%	10.35%	7.21%	0.00%	0.81%	0.80%	1.21%	0.00%	0.00%
MALOX BlackRock Global Allocation Fund	8.72%	9.22%	7.68%	1.54%	6.01%	10.32%	10.15%	5.68%	5.50%	4.81%	2.10%	9.86%

Frequently Asked Questions

Can I hold both FTGC and MALOX in my portfolio?

FTGC and MALOX have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTGC or MALOX?

FTGC has higher volatility (4.76%) compared to MALOX (3.53%). In terms of maximum drawdown, FTGC dropped -59.47% vs MALOX's -32.83%.

Which has better risk-adjusted returns?

FTGC currently has the higher Sharpe Ratio (2.27 vs 1.79), 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.