JCRAX vs. FCSSX

Last updated Aug 2, 2026

JCRAX (ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund) and FCSSX (Fidelity Series Commodity Strategy Fund) are both Commodities funds. Over the past 10 years, JCRAX returned 8.27%/yr vs 6.71%/yr for FCSSX. Their correlation of 0.87 means they have usually moved in the same direction. JCRAX charges 1.36%/yr vs 0.00%/yr for FCSSX.

Performance

JCRAX vs. FCSSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX) and Fidelity Series Commodity Strategy Fund (FCSSX). 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 FCSSX's 16.93% return. Over the past 10 years, JCRAX has outperformed FCSSX with an annualized return of 8.27%, while FCSSX has yielded a comparatively lower 6.71% 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%

FCSSX

• 1D: -0.24%
• 1M: 5.42%
• 6M: 7.51%
• YTD: 16.93%
• 1Y: 29.19%
• 3Y*: 10.12%
• 5Y*: 9.82%
• 10Y*: 6.71%
• ALL TIME*: 1.21%

*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)
FCSSX Fidelity Series Commodity Strategy Fund	$0.00	$0.00	$0.00
JCRAX ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund	$0.00	$0.00	$0.00

JCRAX vs. FCSSX - 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%
FCSSX Fidelity Series Commodity Strategy Fund	16.93%	15.43%	5.36%	-8.25%	18.11%	27.59%	-3.11%	7.41%	-12.10%	0.92%

Correlation

The correlation between JCRAX and FCSSX is 0.88, 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.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.88
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (10Y) Provides a long-term view across more market conditions.	0.87
Correlation (All Time) Calculated using the full available price history since Jul 1, 2010	0.87

The correlation between JCRAX and FCSSX has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

Return for Risk

JCRAX vs. FCSSX — 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

FCSSX

FCSSX Risk / Return Rank: 73
FCSSX Sharpe Ratio Rank: 82
FCSSX Sortino Ratio Rank: 77
FCSSX Omega Ratio Rank: 78
FCSSX Calmar Ratio Rank: 71
FCSSX Martin Ratio Rank: 57

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. FCSSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX) and Fidelity Series Commodity Strategy Fund (FCSSX). 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	FCSSX	Difference
Sharpe ratio: Return per unit of total volatility	2.39	1.96	+0.44
Sortino ratio: Return per unit of downside risk	3.03	2.57	+0.45
Omega ratio: Gain probability vs. loss probability	1.40	1.34	+0.06
Calmar ratio: Return relative to maximum drawdown	2.72	2.26	+0.46
Martin ratio: Return relative to average drawdown	9.01	7.33	+1.68

JCRAX vs. FCSSX - Sharpe Ratio Comparison

The current JCRAX Sharpe Ratio is 2.39, which is comparable to the FCSSX Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of JCRAX and FCSSX, 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. FCSSX - Drawdown Comparison

The maximum JCRAX drawdown since its inception was -62.03%, smaller than the maximum FCSSX drawdown of -66.04%. Use the drawdown chart below to compare losses from any high point for JCRAX and FCSSX.

Drawdown Indicators

	JCRAX	FCSSX	Difference
Max Drawdown Largest peak-to-trough decline	-62.03%	-66.04%	+4.01%
Max Drawdown (1Y) Largest decline over 1 year	-13.01%	-12.43%	-0.58%
Max Drawdown (3Y) Largest decline over 3 years	-13.01%	-12.43%	-0.58%
Max Drawdown (5Y) Largest decline over 5 years	-26.60%	-24.07%	-2.53%
Max Drawdown (10Y) Largest decline over 10 years	-43.14%	-33.37%	-9.77%
Current Drawdown Current decline from peak	-7.32%	-12.51%	+5.19%
Average Drawdown Average peak-to-trough decline	-26.21%	-35.98%	+9.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.92%	3.83%	+0.09%

Volatility

JCRAX vs. FCSSX - Volatility Comparison

ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX) and Fidelity Series Commodity Strategy Fund (FCSSX) have volatilities of 4.07% and 4.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JCRAX	FCSSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	4.00%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	11.68%	11.81%	-0.13%
Volatility (1Y) Calculated over the trailing 1-year period	14.83%	14.56%	+0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.67%	15.92%	+4.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.08%	14.30%	+3.78%

JCRAX vs. FCSSX - Expense Ratio Comparison

JCRAX has a 1.36% expense ratio, which is higher than FCSSX's 0.00% expense ratio.

Dividends

JCRAX vs. FCSSX - Dividend Comparison

JCRAX's dividend yield for the trailing twelve months is around 7.41%, more than FCSSX's 2.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FCSSX Fidelity Series Commodity Strategy Fund	2.30%	2.69%	12.74%	4.53%	128.24%	41.74%	0.44%	1.49%	6.76%	0.53%	0.00%
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 FCSSX in my portfolio?

JCRAX and FCSSX have a correlation of 0.88, 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 FCSSX?

JCRAX has higher volatility (4.07%) compared to FCSSX (4.00%). In terms of maximum drawdown, JCRAX dropped -62.03% vs FCSSX's -66.04%.

Which has better risk-adjusted returns?

JCRAX currently has the higher Sharpe Ratio (2.39 vs 1.96), 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.