IRCZX vs. QISIX

Last updated Jul 17, 2026

IRCZX (AB International Small Cap Portfolio) and QISIX (Pear Tree Polaris International Opportunities Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 5 years, IRCZX returned 7.96%/yr vs 2.89%/yr for QISIX. A 0.67 correlation means they provide meaningful diversification when combined. IRCZX charges 1.07%/yr vs 1.22%/yr for QISIX.

Performance

IRCZX vs. QISIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB International Small Cap Portfolio (IRCZX) and Pear Tree Polaris International Opportunities Fund (QISIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IRCZX achieves a 12.47% return, which is significantly lower than QISIX's 16.84% return.

IRCZX

• 1D: 0.79%
• 1M: -1.54%
• 6M: 7.28%
• YTD: 12.47%
• 1Y: 21.56%
• 3Y*: 18.14%
• 5Y*: 7.96%
• 10Y*: 8.82%

QISIX

• 1D: 0.59%
• 1M: -3.01%
• 6M: 14.42%
• YTD: 16.84%
• 1Y: 19.61%
• 3Y*: 10.26%
• 5Y*: 2.89%
• 10Y*: —

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

IRCZX vs. QISIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IRCZX AB International Small Cap Portfolio	12.47%	34.96%	7.69%	13.19%	-20.89%	12.49%	8.23%	10.28%
QISIX Pear Tree Polaris International Opportunities Fund	16.84%	18.14%	-5.09%	16.38%	-19.17%	3.48%	13.72%	18.84%

Correlation

The correlation between IRCZX and QISIX is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since Feb 7, 2019	0.67

The correlation between IRCZX and QISIX shifts across timeframes, from 0.50 (1 year) to 0.67 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

IRCZX vs. QISIX — Risk / Return Rank

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

IRCZX

IRCZX Risk / Return Rank: 36
IRCZX Sharpe Ratio Rank: 35
IRCZX Sortino Ratio Rank: 34
IRCZX Omega Ratio Rank: 38
IRCZX Calmar Ratio Rank: 35
IRCZX Martin Ratio Rank: 38

QISIX

QISIX Risk / Return Rank: 36
QISIX Sharpe Ratio Rank: 36
QISIX Sortino Ratio Rank: 40
QISIX Omega Ratio Rank: 37
QISIX Calmar Ratio Rank: 35
QISIX Martin Ratio Rank: 32

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.

IRCZX vs. QISIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB International Small Cap Portfolio (IRCZX) and Pear Tree Polaris International Opportunities Fund (QISIX). 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.

	IRCZX	QISIX	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.37	+0.03
Sortino ratio: Return per unit of downside risk	1.98	2.09	-0.12
Omega ratio: Gain probability vs. loss probability	1.27	1.26	+0.01
Calmar ratio: Return relative to maximum drawdown	1.89	1.83	+0.07
Martin ratio: Return relative to average drawdown	6.99	5.95	+1.03

IRCZX vs. QISIX - Sharpe Ratio Comparison

The current IRCZX Sharpe Ratio is 1.40, which is comparable to the QISIX Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of IRCZX and QISIX, 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

IRCZX vs. QISIX - Drawdown Comparison

The maximum IRCZX drawdown since its inception was -44.50%, which is greater than QISIX's maximum drawdown of -41.11%. Use the drawdown chart below to compare losses from any high point for IRCZX and QISIX.

Drawdown Indicators

	IRCZX	QISIX	Difference
Max Drawdown Largest peak-to-trough decline	-44.50%	-41.11%	-3.39%
Max Drawdown (1Y) Largest decline over 1 year	-11.59%	-10.48%	-1.11%
Max Drawdown (3Y) Largest decline over 3 years	-13.74%	-15.47%	+1.73%
Max Drawdown (5Y) Largest decline over 5 years	-34.68%	-37.79%	+3.11%
Max Drawdown (10Y) Largest decline over 10 years	-44.50%	—	—
Current Drawdown Current decline from peak	-3.04%	-3.79%	+0.75%
Average Drawdown Average peak-to-trough decline	-9.28%	-11.93%	+2.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	3.20%	-0.07%

Volatility

IRCZX vs. QISIX - Volatility Comparison

AB International Small Cap Portfolio (IRCZX) has a higher volatility of 5.82% compared to Pear Tree Polaris International Opportunities Fund (QISIX) at 5.28%. This indicates that IRCZX's price experiences larger fluctuations and is considered to be riskier than QISIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IRCZX	QISIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.82%	5.28%	+0.54%
Volatility (6M) Calculated over the trailing 6-month period	13.83%	12.22%	+1.61%
Volatility (1Y) Calculated over the trailing 1-year period	15.72%	14.01%	+1.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.94%	15.08%	+0.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.05%	16.05%	0.00%

IRCZX vs. QISIX - Expense Ratio Comparison

IRCZX has a 1.07% expense ratio, which is lower than QISIX's 1.22% expense ratio.

Dividends

IRCZX vs. QISIX - Dividend Comparison

IRCZX's dividend yield for the trailing twelve months is around 13.73%, more than QISIX's 1.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IRCZX AB International Small Cap Portfolio	13.73%	15.44%	2.70%	2.95%	1.07%	3.88%	1.14%	1.96%	10.24%	3.79%	2.72%
QISIX Pear Tree Polaris International Opportunities Fund	1.62%	1.89%	3.29%	1.27%	1.66%	2.52%	0.68%	0.30%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IRCZX and QISIX in my portfolio?

IRCZX and QISIX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IRCZX or QISIX?

IRCZX has higher volatility (5.82%) compared to QISIX (5.28%). In terms of maximum drawdown, IRCZX dropped -44.50% vs QISIX's -41.11%.

Which has better risk-adjusted returns?

IRCZX currently has the higher Sharpe Ratio (1.40 vs 1.37), 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.