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LCSIX vs. FSMSX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

LCSIX vs. FSMSX

Last updated Apr 1, 2026

Compare and contrast key facts about LoCorr Long/Short Commodity Strategies Fund (LCSIX) and FS Multi-Strategy Alternatives Fund (FSMSX).

LCSIX is managed by LoCorr Funds. It was launched on Dec 29, 2011. FSMSX is managed by FS Investments. It was launched on May 15, 2017.

Performance

LCSIX vs. FSMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LoCorr Long/Short Commodity Strategies Fund (LCSIX) and FS Multi-Strategy Alternatives Fund (FSMSX). The values are adjusted to include any dividend payments, if applicable.

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LCSIX vs. FSMSX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
LCSIX
LoCorr Long/Short Commodity Strategies Fund		2.78%1.13%-8.29%-3.07%6.04%14.90%9.90%-5.97%15.16%10.49%
FSMSX
FS Multi-Strategy Alternatives Fund		0.90%4.13%4.63%5.44%3.17%13.97%-3.66%7.77%-3.82%2.00%

Returns By Period

In the year-to-date period, LCSIX achieves a 2.78% return, which is significantly higher than FSMSX's 0.90% return.

LCSIX

1D
0.57%
1M
0.91%
YTD
2.78%
6M
1.28%
1Y
0.27%
3Y*
-2.12%
5Y*
2.03%
10Y*
2.75%

FSMSX

1D
0.18%
1M
-0.53%
YTD
0.90%
6M
2.31%
1Y
4.69%
3Y*
4.46%
5Y*
4.95%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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LoCorr Long/Short Commodity Strategies Fund

FS Multi-Strategy Alternatives Fund

Often compared with LCSIX:
LCSIX vs. BICSXLCSIX vs. COMM.LLCSIX vs. JHEQXLCSIX vs. PGTYXLCSIX vs. CSH2.LLCSIX vs. DBMFLCSIX vs. FTLS
Often compared with FSMSX:
FSMSX vs. FSMDXFSMSX vs. QDSIXFSMSX vs. SRDAXFSMSX vs. GAFYXFSMSX vs. CSQIXFSMSX vs. QISFSMSX vs. FMSDX

LCSIX vs. FSMSX - Expense Ratio Comparison

LCSIX has a 1.75% expense ratio, which is lower than FSMSX's 1.89% expense ratio.

FSMSX
FS Multi-Strategy Alternatives Fund
LCSIX
LoCorr Long/Short Commodity Strategies Fund

Return for Risk

LCSIX vs. FSMSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
LCSIX
LCSIX Risk / Return Rank: 99
Overall Rank
LCSIX Sharpe Ratio Rank: 99
Sharpe Ratio Rank
LCSIX Sortino Ratio Rank: 77
Sortino Ratio Rank
LCSIX Omega Ratio Rank: 77
Omega Ratio Rank
LCSIX Calmar Ratio Rank: 1111
Calmar Ratio Rank
LCSIX Martin Ratio Rank: 99
Martin Ratio Rank
FSMSX
FSMSX Risk / Return Rank: 8080
Overall Rank
FSMSX Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
FSMSX Sortino Ratio Rank: 8282
Sortino Ratio Rank
FSMSX Omega Ratio Rank: 8080
Omega Ratio Rank
FSMSX Calmar Ratio Rank: 8585
Calmar Ratio Rank
FSMSX Martin Ratio Rank: 7474
Martin Ratio Rank
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.

LCSIX vs. FSMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LoCorr Long/Short Commodity Strategies Fund (LCSIX) and FS Multi-Strategy Alternatives Fund (FSMSX). 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.

LCSIXFSMSXDifference

Sharpe ratio

Return per unit of total volatility

0.15

1.51

-1.36

Sortino ratio

Return per unit of downside risk

0.25

2.09

-1.84

Omega ratio

Gain probability vs. loss probability

1.03

1.31

-0.27

Calmar ratio

Return relative to maximum drawdown

0.24

2.10

-1.86

Martin ratio

Return relative to average drawdown

0.49

6.99

-6.50

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LCSIX vs. FSMSX - Sharpe Ratio Comparison

The current LCSIX Sharpe Ratio is 0.15, which is lower than the FSMSX Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of LCSIX and FSMSX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

LCSIXFSMSXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.15

1.51

-1.36

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.37

1.08

-0.71

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.41

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.46

0.81

-0.35

Correlation

The correlation between LCSIX and FSMSX is 0.07, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

LCSIX vs. FSMSX - Dividend Comparison

LCSIX's dividend yield for the trailing twelve months is around 2.26%, less than FSMSX's 4.08% yield.

TTM20252024202320222021202020192018201720162015
LCSIX
LoCorr Long/Short Commodity Strategies Fund		2.26%2.32%2.75%1.88%10.75%7.14%2.94%0.54%12.36%0.02%3.21%7.36%
FSMSX
FS Multi-Strategy Alternatives Fund		4.08%4.12%2.48%3.61%4.12%3.22%0.77%2.20%0.82%0.00%0.00%0.00%

Drawdowns

LCSIX vs. FSMSX - Drawdown Comparison

The maximum LCSIX drawdown since its inception was -25.13%, which is greater than FSMSX's maximum drawdown of -8.94%. Use the drawdown chart below to compare losses from any high point for LCSIX and FSMSX.

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Drawdown Indicators

LCSIXFSMSXDifference

Max Drawdown

Largest peak-to-trough decline

-25.13%

-8.94%

-16.19%

Max Drawdown (1Y)

Largest decline over 1 year

-4.31%

-2.32%

-1.99%

Max Drawdown (5Y)

Largest decline over 5 years

-13.21%

-4.13%

-9.08%

Max Drawdown (10Y)

Largest decline over 10 years

-13.71%

—

—

Current Drawdown

Current decline from peak

-8.74%

-0.62%

-8.12%

Average Drawdown

Average peak-to-trough decline

-6.33%

-1.66%

-4.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.15%

0.70%

+1.45%

Volatility

LCSIX vs. FSMSX - Volatility Comparison

LoCorr Long/Short Commodity Strategies Fund (LCSIX) has a higher volatility of 1.44% compared to FS Multi-Strategy Alternatives Fund (FSMSX) at 1.28%. This indicates that LCSIX's price experiences larger fluctuations and is considered to be riskier than FSMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

LCSIXFSMSXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.44%

1.28%

+0.16%

Volatility (6M)

Calculated over the trailing 6-month period

5.31%

2.00%

+3.31%

Volatility (1Y)

Calculated over the trailing 1-year period

6.96%

3.24%

+3.72%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.58%

4.63%

+0.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.71%

4.67%

+2.04%