JCRAX vs. PFLT
JCRAX (ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund) is Commodities fund managed by ALPS, while PFLT (PennantPark Floating Rate Capital Ltd.) is a stock. Over the past 10 years, JCRAX returned 8.27%/yr vs 4.35%/yr for PFLT. Their 0.23 correlation means their historical movements had little consistent relationship.
Performance
JCRAX vs. PFLT - Performance Comparison
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Returns By Period
In the year-to-date period, JCRAX achieves a 18.77% return, which is significantly higher than PFLT's -18.83% return. Over the past 10 years, JCRAX has outperformed PFLT with an annualized return of 8.27%, while PFLT has yielded a comparatively lower 4.35% 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%
PFLT
- 1D
- -1.00%
- 1M
- -6.17%
- 6M
- -21.14%
- YTD
- -18.83%
- 1Y
- -23.65%
- 3Y*
- -4.27%
- 5Y*
- -1.47%
- 10Y*
- 4.35%
- ALL TIME*
- 4.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $8.63M | $9.40M | $9.33M |
JCRAX vs. PFLT - 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% |
PFLT PennantPark Floating Rate Capital Ltd. | -18.83% | -4.17% | 0.62% | 23.05% | -5.53% | 32.64% | -1.41% | 15.52% | -8.29% | 5.49% |
Correlation
The correlation between JCRAX and PFLT is 0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.02 |
Correlation (3Y) Balances recent behavior with more history. | 0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.22 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.26 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2011 | 0.23 |
Over the past year, the correlation between JCRAX and PFLT has dropped to 0.02 - well below their long-term average of 0.23, suggesting their price drivers have been diverging.
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Return for Risk
JCRAX vs. PFLT — Risk / Return Rank
JCRAX
PFLT
JCRAX vs. PFLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX) and PennantPark Floating Rate Capital Ltd. (PFLT). 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 | PFLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.49 | ||
| Sortino ratioReturn per unit of downside risk | +4.53 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 0.83 | +0.57 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | -0.96 | +3.68 |
| Martin ratioReturn relative to average drawdown | 9.01 | -1.97 | +10.98 |
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Drawdowns
JCRAX vs. PFLT - Drawdown Comparison
The maximum JCRAX drawdown since its inception was -62.03%, smaller than the maximum PFLT drawdown of -69.77%. Use the drawdown chart below to compare losses from any high point for JCRAX and PFLT.
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Drawdown Indicators
| JCRAX | PFLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.03% | -69.77% | +7.74% |
Max Drawdown (1Y)Largest decline over 1 year | -13.01% | -25.25% | +12.24% |
Max Drawdown (3Y)Largest decline over 3 years | -13.01% | -28.44% | +15.43% |
Max Drawdown (5Y)Largest decline over 5 years | -26.60% | -29.64% | +3.04% |
Max Drawdown (10Y)Largest decline over 10 years | -43.14% | -69.77% | +26.63% |
Current DrawdownCurrent decline from peak | -7.32% | -27.61% | +20.29% |
Average DrawdownAverage peak-to-trough decline | -26.21% | -8.46% | -17.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.92% | 12.29% | -8.37% |
Volatility
JCRAX vs. PFLT - Volatility Comparison
The current volatility for ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX) is 4.07%, while PennantPark Floating Rate Capital Ltd. (PFLT) has a volatility of 6.65%. This indicates that JCRAX experiences smaller price fluctuations and is considered to be less risky than PFLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JCRAX | PFLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.07% | 6.65% | -2.58% |
Volatility (6M)Calculated over the trailing 6-month period | 11.68% | 18.40% | -6.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.83% | 22.03% | -7.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.67% | 21.45% | -0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.08% | 29.09% | -11.01% |
Dividends
JCRAX vs. PFLT - Dividend Comparison
JCRAX's dividend yield for the trailing twelve months is around 7.41%, less than PFLT's 17.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
PFLT PennantPark Floating Rate Capital Ltd. | 17.12% | 13.27% | 11.25% | 9.98% | 10.38% | 8.93% | 10.83% | 9.24% | 9.59% | 8.31% | 8.08% | 10.04% |
Frequently Asked Questions
JCRAX and PFLT have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFLT has higher volatility (6.65%) compared to JCRAX (4.07%). In terms of maximum drawdown, JCRAX dropped -62.03% vs PFLT's -69.77%.
JCRAX currently has the higher Sharpe Ratio (2.39 vs -1.10), 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.
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