JCRAX vs. SMRSX

Last updated Jun 5, 2026

JCRAX (ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund) and SMRSX (ALPS/Smith Short Duration Bond Fund) are both mutual funds - JCRAX is a Commodities fund managed by ALPS, while SMRSX is a Short-Term Bond fund managed by ALPS. Over the past 5 years, JCRAX returned 11.57%/yr vs 2.17%/yr for SMRSX. At a 0.04 correlation, their price movements are largely independent. JCRAX charges 1.36%/yr vs 0.93%/yr for SMRSX.

Performance

JCRAX vs. SMRSX - 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 Short Duration Bond Fund (SMRSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JCRAX achieves a 24.57% return, which is significantly higher than SMRSX's 0.55% return.

JCRAX

• 1D: -0.30%
• 1M: -1.27%
• YTD: 24.57%
• 6M: 25.01%
• 1Y: 44.97%
• 3Y*: 17.70%
• 5Y*: 11.57%
• 10Y*: 8.50%

SMRSX

• 1D: -0.10%
• 1M: 0.13%
• YTD: 0.55%
• 6M: 0.90%
• 1Y: 3.52%
• 3Y*: 4.68%
• 5Y*: 2.17%
• 10Y*: —

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

JCRAX vs. SMRSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
JCRAX ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund	24.57%	25.30%	1.32%	-7.37%	12.82%	29.21%	2.15%	11.00%	-15.63%
SMRSX ALPS/Smith Short Duration Bond Fund	0.55%	5.38%	4.50%	4.73%	-3.47%	-0.39%	6.27%	4.13%	0.87%

Correlation

The correlation between JCRAX and SMRSX is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (All Time) Calculated using the full available price history since Jul 3, 2018	0.04

The correlation between JCRAX and SMRSX shifts across timeframes, from -0.10 (1 year) to 0.06 (5 years), reflecting how their relationship changes across market environments.

JCRAX vs. SMRSX - Sectors Allocation Comparison

Sectors	JCRAX	SMRSX
Basic Materials	33.3%	-
Energy	33.1%	-
Consumer Defensive	11.9%	-
Industrials	9.7%	-
Utilities	6.5%	-
Technology	4.4%	-
Consumer Cyclical	1.1%	-
Communication Services	-	-
Financial Services	-	1.0%
Healthcare	-	-
Real Estate	-	-

Return for Risk

JCRAX vs. SMRSX — Risk / Return Rank

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

JCRAX

JCRAX Risk / Return Rank: 91
JCRAX Sharpe Ratio Rank: 94
JCRAX Sortino Ratio Rank: 85
JCRAX Omega Ratio Rank: 83
JCRAX Calmar Ratio Rank: 97
JCRAX Martin Ratio Rank: 97

SMRSX

SMRSX Risk / Return Rank: 86
SMRSX Sharpe Ratio Rank: 82
SMRSX Sortino Ratio Rank: 88
SMRSX Omega Ratio Rank: 89
SMRSX Calmar Ratio Rank: 84
SMRSX Martin Ratio Rank: 87

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. SMRSX - 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 Short Duration Bond Fund (SMRSX). 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.

	JCRAX	SMRSX	Difference
Sharpe ratio: Return per unit of total volatility	3.25	2.65	+0.59
Sortino ratio: Return per unit of downside risk	4.06	4.22	-0.16
Omega ratio: Gain probability vs. loss probability	1.55	1.64	-0.09
Calmar ratio: Return relative to maximum drawdown	7.51	3.84	+3.67
Martin ratio: Return relative to average drawdown	27.00	15.90	+11.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JCRAX vs. SMRSX - Sharpe Ratio Comparison

The current JCRAX Sharpe Ratio is 3.25, which is comparable to the SMRSX Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of JCRAX and SMRSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JCRAX	SMRSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.25	2.65	+0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	1.29	-0.72
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	1.77	-1.54

Drawdowns

JCRAX vs. SMRSX - Drawdown Comparison

The maximum JCRAX drawdown since its inception was -62.03%, which is greater than SMRSX's maximum drawdown of -5.62%. Use the drawdown chart below to compare losses from any high point for JCRAX and SMRSX.

Drawdown Indicators

	JCRAX	SMRSX	Difference
Max Drawdown Largest peak-to-trough decline	-62.03%	-5.62%	-56.41%
Max Drawdown (1Y) Largest decline over 1 year	-6.04%	-0.95%	-5.09%
Max Drawdown (3Y) Largest decline over 3 years	-11.86%	-0.95%	-10.91%
Max Drawdown (5Y) Largest decline over 5 years	-26.60%	-5.62%	-20.98%
Max Drawdown (10Y) Largest decline over 10 years	-43.14%	—	—
Current Drawdown Current decline from peak	-2.79%	-0.13%	-2.66%
Average Drawdown Average peak-to-trough decline	-26.39%	-0.86%	-25.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	0.23%	+1.45%

Volatility

JCRAX vs. SMRSX - Volatility Comparison

ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX) has a higher volatility of 4.19% compared to ALPS/Smith Short Duration Bond Fund (SMRSX) at 0.45%. This indicates that JCRAX's price experiences larger fluctuations and is considered to be riskier than SMRSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JCRAX	SMRSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	0.45%	+3.74%
Volatility (6M) Calculated over the trailing 6-month period	11.37%	1.02%	+10.35%
Volatility (1Y) Calculated over the trailing 1-year period	13.98%	1.37%	+12.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.66%	1.69%	+18.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.10%	1.59%	+16.51%

JCRAX vs. SMRSX - Expense Ratio Comparison

JCRAX has a 1.36% expense ratio, which is higher than SMRSX's 0.93% expense ratio.

Dividends

JCRAX vs. SMRSX - Dividend Comparison

JCRAX's dividend yield for the trailing twelve months is around 7.07%, more than SMRSX's 3.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
JCRAX ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund	7.07%	8.80%	2.80%	3.29%	7.08%	22.43%	0.29%	0.90%	3.26%	2.44%	0.05%
SMRSX ALPS/Smith Short Duration Bond Fund	3.87%	3.95%	4.11%	3.50%	0.84%	0.56%	1.92%	2.86%	0.87%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JCRAX and SMRSX in my portfolio?

JCRAX and SMRSX have a correlation of -0.10, 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 SMRSX?

JCRAX has higher volatility (4.19%) compared to SMRSX (0.45%). In terms of maximum drawdown, JCRAX dropped -62.03% vs SMRSX's -5.62%.

Which has better risk-adjusted returns?

JCRAX currently has the higher Sharpe Ratio (3.25 vs 2.65), 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.