JCRAX vs. SMCVX

Last updated Jun 24, 2026

JCRAX (ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund) and SMCVX (ALPS/Smith Credit Opportunities Fund) are both mutual funds - JCRAX is a Commodities fund managed by ALPS, while SMCVX is a Multisector Bonds fund managed by ALPS. Over the past 5 years, JCRAX returned 10.52%/yr vs 1.01%/yr for SMCVX. At a 0.20 correlation, their price movements are largely independent. JCRAX charges 1.36%/yr vs 1.17%/yr for SMCVX.

Performance

JCRAX vs. SMCVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX) and ALPS/Smith Credit Opportunities Fund (SMCVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JCRAX achieves a 15.31% return, which is significantly higher than SMCVX's 1.08% return.

JCRAX

• 1D: -0.21%
• 1M: -7.52%
• YTD: 15.31%
• 6M: 14.32%
• 1Y: 31.42%
• 3Y*: 14.13%
• 5Y*: 10.52%
• 10Y*: 7.68%

SMCVX

• 1D: -0.11%
• 1M: 0.70%
• YTD: 1.08%
• 6M: 1.20%
• 1Y: 4.84%
• 3Y*: 5.69%
• 5Y*: 1.01%
• 10Y*: —

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

JCRAX vs. SMCVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
JCRAX ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund	15.31%	25.30%	1.32%	-7.37%	12.82%	29.21%	14.11%
SMCVX ALPS/Smith Credit Opportunities Fund	1.08%	5.21%	4.93%	7.29%	-12.95%	2.62%	4.69%

Correlation

The correlation between JCRAX and SMCVX is -0.07, 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	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (All Time) Calculated using the full available price history since Oct 12, 2020	0.20

The correlation between JCRAX and SMCVX shifts across timeframes, from -0.07 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JCRAX vs. SMCVX — Risk / Return Rank

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

JCRAX

JCRAX Risk / Return Rank: 59
JCRAX Sharpe Ratio Rank: 59
JCRAX Sortino Ratio Rank: 48
JCRAX Omega Ratio Rank: 49
JCRAX Calmar Ratio Rank: 67
JCRAX Martin Ratio Rank: 72

SMCVX

SMCVX Risk / Return Rank: 40
SMCVX Sharpe Ratio Rank: 41
SMCVX Sortino Ratio Rank: 40
SMCVX Omega Ratio Rank: 47
SMCVX Calmar Ratio Rank: 28
SMCVX Martin Ratio Rank: 42

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.

JCRAX vs. SMCVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX) and ALPS/Smith Credit Opportunities Fund (SMCVX). 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	SMCVX	Difference
Sharpe ratio: Return per unit of total volatility	2.08	1.72	+0.35
Sortino ratio: Return per unit of downside risk	2.69	2.45	+0.24
Omega ratio: Gain probability vs. loss probability	1.35	1.34	+0.01
Calmar ratio: Return relative to maximum drawdown	3.00	1.84	+1.16
Martin ratio: Return relative to average drawdown	12.93	8.47	+4.45

JCRAX vs. SMCVX - Sharpe Ratio Comparison

The current JCRAX Sharpe Ratio is 2.08, which is comparable to the SMCVX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of JCRAX and SMCVX, 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. SMCVX - Drawdown Comparison

The maximum JCRAX drawdown since its inception was -62.03%, which is greater than SMCVX's maximum drawdown of -16.11%. Use the drawdown chart below to compare losses from any high point for JCRAX and SMCVX.

Drawdown Indicators

	JCRAX	SMCVX	Difference
Max Drawdown Largest peak-to-trough decline	-62.03%	-16.11%	-45.92%
Max Drawdown (1Y) Largest decline over 1 year	-10.02%	-2.71%	-7.31%
Max Drawdown (3Y) Largest decline over 3 years	-11.86%	-3.73%	-8.13%
Max Drawdown (5Y) Largest decline over 5 years	-26.60%	-16.11%	-10.49%
Max Drawdown (10Y) Largest decline over 10 years	-43.14%	—	—
Current Drawdown Current decline from peak	-10.02%	-0.33%	-9.69%
Average Drawdown Average peak-to-trough decline	-26.33%	-4.95%	-21.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	0.59%	+1.75%

Volatility

JCRAX vs. SMCVX - Volatility Comparison

ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX) has a higher volatility of 4.14% compared to ALPS/Smith Credit Opportunities Fund (SMCVX) at 0.79%. This indicates that JCRAX's price experiences larger fluctuations and is considered to be riskier than SMCVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JCRAX	SMCVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.14%	0.79%	+3.35%
Volatility (6M) Calculated over the trailing 6-month period	11.79%	2.36%	+9.43%
Volatility (1Y) Calculated over the trailing 1-year period	14.48%	2.90%	+11.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.67%	4.17%	+16.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.11%	4.02%	+14.09%

JCRAX vs. SMCVX - Expense Ratio Comparison

JCRAX has a 1.36% expense ratio, which is higher than SMCVX's 1.17% expense ratio.

Dividends

JCRAX vs. SMCVX - Dividend Comparison

JCRAX's dividend yield for the trailing twelve months is around 7.63%, more than SMCVX's 4.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
JCRAX ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund	7.63%	8.80%	2.80%	3.29%	7.08%	22.43%	0.29%	0.90%	3.26%	2.44%	0.05%
SMCVX ALPS/Smith Credit Opportunities Fund	4.98%	4.74%	4.60%	4.15%	2.21%	2.40%	0.75%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JCRAX and SMCVX in my portfolio?

JCRAX and SMCVX have a correlation of -0.07, 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 SMCVX?

JCRAX has higher volatility (4.14%) compared to SMCVX (0.79%). In terms of maximum drawdown, JCRAX dropped -62.03% vs SMCVX's -16.11%.

Which has better risk-adjusted returns?

JCRAX currently has the higher Sharpe Ratio (2.08 vs 1.72), 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.