LPEFX vs. JCRAX

Last updated Jun 3, 2026

LPEFX (ALPS/Red Rocks Global Opportunity Fund) and JCRAX (ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund) are both mutual funds - LPEFX is a Global Equities fund managed by ALPS, while JCRAX is a Commodities fund managed by ALPS. Over the past 10 years, LPEFX returned 9.18%/yr vs 8.43%/yr for JCRAX. At a 0.48 correlation, their price movements are largely independent. LPEFX charges 1.46%/yr vs 1.36%/yr for JCRAX.

Performance

LPEFX vs. JCRAX - Performance Comparison

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

Returns By Period

In the year-to-date period, LPEFX achieves a -6.15% return, which is significantly lower than JCRAX's 23.83% return. Over the past 10 years, LPEFX has outperformed JCRAX with an annualized return of 9.18%, while JCRAX has yielded a comparatively lower 8.43% annualized return.

LPEFX

• 1D: -0.19%
• 1M: 2.89%
• YTD: -6.15%
• 6M: -2.27%
• 1Y: -4.83%
• 3Y*: 9.58%
• 5Y*: 2.49%
• 10Y*: 9.18%

JCRAX

• 1D: 0.80%
• 1M: -0.89%
• YTD: 23.83%
• 6M: 26.13%
• 1Y: 45.06%
• 3Y*: 17.47%
• 5Y*: 11.47%
• 10Y*: 8.43%

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

LPEFX vs. JCRAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LPEFX ALPS/Red Rocks Global Opportunity Fund	-6.15%	1.25%	17.78%	28.31%	-28.82%	23.70%	9.35%	49.57%	-12.60%	27.02%
JCRAX ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund	23.83%	25.30%	1.32%	-7.37%	12.82%	29.21%	2.15%	11.00%	-14.54%	4.58%

Correlation

The correlation between LPEFX and JCRAX is 0.08, 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	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jul 2, 2010	0.48

Over the past year, the correlation between LPEFX and JCRAX has dropped to 0.08 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.

LPEFX vs. JCRAX - Sectors Allocation Comparison

Sectors	LPEFX	JCRAX
Financial Services	69.2%	-
Technology	11.7%	4.4%
Industrials	9.9%	9.7%
Consumer Cyclical	4.5%	1.1%
Consumer Defensive	2.8%	11.9%
Communication Services	1.9%	-
Basic Materials	-	33.3%
Energy	-	33.1%
Healthcare	-	-
Real Estate	-	-
Utilities	-	6.5%

Return for Risk

LPEFX vs. JCRAX — Risk / Return Rank

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

LPEFX

LPEFX Risk / Return Rank: 2
LPEFX Sharpe Ratio Rank: 2
LPEFX Sortino Ratio Rank: 2
LPEFX Omega Ratio Rank: 2
LPEFX Calmar Ratio Rank: 2
LPEFX Martin Ratio Rank: 2

JCRAX

JCRAX Risk / Return Rank: 93
JCRAX Sharpe Ratio Rank: 95
JCRAX Sortino Ratio Rank: 88
JCRAX Omega Ratio Rank: 85
JCRAX Calmar Ratio Rank: 98
JCRAX Martin Ratio Rank: 97

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.

LPEFX vs. JCRAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS/Red Rocks Global Opportunity Fund (LPEFX) and ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX). 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.

	LPEFX	JCRAX	Difference
Sharpe ratio Return per unit of total volatility	-0.27	3.42	-3.69
Sortino ratio Return per unit of downside risk	-0.26	4.26	-4.52
Omega ratio Gain probability vs. loss probability	0.97	1.58	-0.61
Calmar ratio Return relative to maximum drawdown	-0.22	7.75	-7.97
Martin ratio Return relative to average drawdown	-0.52	28.19	-28.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LPEFX vs. JCRAX - Sharpe Ratio Comparison

The current LPEFX Sharpe Ratio is -0.27, which is lower than the JCRAX Sharpe Ratio of 3.42. The chart below compares the historical Sharpe Ratios of LPEFX and JCRAX, 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

	LPEFX	JCRAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.27	3.42	-3.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.56	-0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.47	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.23	-0.03

Drawdowns

LPEFX vs. JCRAX - Drawdown Comparison

The maximum LPEFX drawdown since its inception was -77.00%, which is greater than JCRAX's maximum drawdown of -62.03%. Use the drawdown chart below to compare losses from any high point for LPEFX and JCRAX.

Drawdown Indicators

	LPEFX	JCRAX	Difference
Max Drawdown Largest peak-to-trough decline	-77.00%	-62.03%	-14.97%
Max Drawdown (1Y) Largest decline over 1 year	-22.00%	-6.04%	-15.96%
Max Drawdown (3Y) Largest decline over 3 years	-22.00%	-11.86%	-10.14%
Max Drawdown (5Y) Largest decline over 5 years	-49.19%	-26.60%	-22.59%
Max Drawdown (10Y) Largest decline over 10 years	-49.19%	-43.14%	-6.05%
Current Drawdown Current decline from peak	-17.99%	-3.37%	-14.62%
Average Drawdown Average peak-to-trough decline	-22.76%	-26.40%	+3.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.23%	1.66%	+7.57%

Volatility

LPEFX vs. JCRAX - Volatility Comparison

ALPS/Red Rocks Global Opportunity Fund (LPEFX) and ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX) have volatilities of 4.12% and 4.16%, 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

	LPEFX	JCRAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.12%	4.16%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	14.18%	11.40%	+2.78%
Volatility (1Y) Calculated over the trailing 1-year period	17.73%	14.09%	+3.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.50%	20.66%	+3.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.87%	18.11%	+4.76%

LPEFX vs. JCRAX - Expense Ratio Comparison

LPEFX has a 1.46% expense ratio, which is higher than JCRAX's 1.36% expense ratio.

Dividends

LPEFX vs. JCRAX - Dividend Comparison

LPEFX's dividend yield for the trailing twelve months is around 16.38%, more than JCRAX's 7.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JCRAX ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund	7.11%	8.80%	2.80%	3.29%	7.08%	22.43%	0.29%	0.90%	3.26%	2.44%	0.05%	0.00%
LPEFX ALPS/Red Rocks Global Opportunity Fund	16.38%	15.38%	15.95%	5.56%	0.00%	26.79%	3.96%	21.96%	4.58%	13.29%	1.55%	8.21%

Frequently Asked Questions

Can I hold both LPEFX and JCRAX in my portfolio?

LPEFX and JCRAX have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LPEFX or JCRAX?

JCRAX has higher volatility (4.16%) compared to LPEFX (4.12%). In terms of maximum drawdown, LPEFX dropped -77.00% vs JCRAX's -62.03%.

Which has better risk-adjusted returns?

JCRAX currently has the higher Sharpe Ratio (3.42 vs -0.27), 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.