JCRAX vs. ARCIX

Last updated Aug 2, 2026

JCRAX (ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund) and ARCIX (AQR Risk-Balanced Commodities Strategy Fund) are both Commodities funds. Over the past 10 years, JCRAX returned 8.27%/yr vs 11.60%/yr for ARCIX. Their correlation of 0.81 means they have usually moved in the same direction. JCRAX charges 1.36%/yr vs 1.00%/yr for ARCIX.

Performance

JCRAX vs. ARCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX) 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, JCRAX achieves a 18.77% return, which is significantly higher than ARCIX's 16.18% return. Over the past 10 years, JCRAX has underperformed ARCIX with an annualized return of 8.27%, while ARCIX has yielded a comparatively higher 11.60% annualized return.

JCRAX

• 1D: 0.73%
• 1M: 5.83%
• 6M: 7.37%
• YTD: 18.77%
• 1Y: 38.22%
• 3Y*: 12.73%
• 5Y*: 10.66%
• 10Y*: 8.27%
• ALL TIME*: 3.56%

ARCIX

• 1D: 0.28%
• 1M: 5.38%
• 6M: 7.49%
• YTD: 16.18%
• 1Y: 33.67%
• 3Y*: 13.27%
• 5Y*: 14.52%
• 10Y*: 11.60%
• ALL TIME*: 4.86%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ARCIX AQR Risk-Balanced Commodities Strategy Fund	$0.00	$0.00	$0.00
JCRAX ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund	$0.00	$0.00	$0.00

JCRAX vs. ARCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JCRAX ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund	18.77%	25.30%	1.32%	-7.37%	12.82%	29.21%	2.15%	11.00%	-14.54%	4.58%
ARCIX AQR Risk-Balanced Commodities Strategy Fund	16.18%	20.99%	7.43%	-0.22%	21.39%	39.74%	8.15%	18.15%	-17.56%	10.41%

Correlation

The correlation between JCRAX and ARCIX is 0.87, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.87
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (10Y) Provides a long-term view across more market conditions.	0.81
Correlation (All Time) Calculated using the full available price history since Jul 9, 2012	0.81

The correlation between JCRAX and ARCIX has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.

Return for Risk

JCRAX vs. ARCIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JCRAX

JCRAX Risk / Return Rank: 82
JCRAX Sharpe Ratio Rank: 92
JCRAX Sortino Ratio Rank: 84
JCRAX Omega Ratio Rank: 83
JCRAX Calmar Ratio Rank: 81
JCRAX Martin Ratio Rank: 72

ARCIX

ARCIX Risk / Return Rank: 73
ARCIX Sharpe Ratio Rank: 84
ARCIX Sortino Ratio Rank: 78
ARCIX Omega Ratio Rank: 79
ARCIX Calmar Ratio Rank: 68
ARCIX Martin Ratio Rank: 55

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JCRAX vs. ARCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX) 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.

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.

	JCRAX	ARCIX	Difference
Sharpe ratio: Return per unit of total volatility	2.39	1.99	+0.40
Sortino ratio: Return per unit of downside risk	3.03	2.61	+0.41
Omega ratio: Gain probability vs. loss probability	1.40	1.35	+0.05
Calmar ratio: Return relative to maximum drawdown	2.72	2.19	+0.52
Martin ratio: Return relative to average drawdown	9.01	7.16	+1.85

JCRAX vs. ARCIX - Sharpe Ratio Comparison

The current JCRAX Sharpe Ratio is 2.39, which is comparable to the ARCIX Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of JCRAX 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.

Drawdowns

JCRAX vs. ARCIX - Drawdown Comparison

The maximum JCRAX drawdown since its inception was -62.03%, which is greater than ARCIX's maximum drawdown of -54.25%. Use the drawdown chart below to compare losses from any high point for JCRAX and ARCIX.

Drawdown Indicators

	JCRAX	ARCIX	Difference
Max Drawdown Largest peak-to-trough decline	-62.03%	-54.25%	-7.78%
Max Drawdown (1Y) Largest decline over 1 year	-13.01%	-14.49%	+1.48%
Max Drawdown (3Y) Largest decline over 3 years	-13.01%	-14.49%	+1.48%
Max Drawdown (5Y) Largest decline over 5 years	-26.60%	-20.29%	-6.31%
Max Drawdown (10Y) Largest decline over 10 years	-43.14%	-32.45%	-10.69%
Current Drawdown Current decline from peak	-7.32%	-8.18%	+0.86%
Average Drawdown Average peak-to-trough decline	-26.21%	-25.19%	-1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.92%	4.44%	-0.52%

Volatility

JCRAX vs. ARCIX - Volatility Comparison

The current volatility for ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX) is 4.07%, while AQR Risk-Balanced Commodities Strategy Fund (ARCIX) has a volatility of 4.83%. This indicates that JCRAX 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

	JCRAX	ARCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	4.83%	-0.76%
Volatility (6M) Calculated over the trailing 6-month period	11.68%	13.19%	-1.51%
Volatility (1Y) Calculated over the trailing 1-year period	14.83%	15.96%	-1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.67%	18.91%	+1.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.08%	17.46%	+0.62%

JCRAX vs. ARCIX - Expense Ratio Comparison

JCRAX has a 1.36% expense ratio, which is higher than ARCIX's 1.00% expense ratio.

Dividends

JCRAX vs. ARCIX - Dividend Comparison

JCRAX's dividend yield for the trailing twelve months is around 7.41%, less than ARCIX's 11.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
ARCIX AQR Risk-Balanced Commodities Strategy Fund	11.56%	13.44%	2.11%	7.56%	9.51%	18.23%	0.09%	5.19%	0.67%	0.01%	4.82%
JCRAX ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund	7.41%	8.80%	2.80%	3.29%	7.08%	22.43%	0.29%	0.90%	3.26%	2.44%	0.05%

Frequently Asked Questions

Can I hold both JCRAX and ARCIX in my portfolio?

JCRAX and ARCIX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JCRAX or ARCIX?

ARCIX has higher volatility (4.83%) compared to JCRAX (4.07%). In terms of maximum drawdown, JCRAX dropped -62.03% vs ARCIX's -54.25%.

Which has better risk-adjusted returns?

JCRAX currently has the higher Sharpe Ratio (2.39 vs 1.99), 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.