VCMDX vs. BRCYX
VCMDX (Vanguard Commodity Strategy Fund Admiral Shares) and BRCYX (Invesco Balanced-Risk Commodity Strategy Fund) are both Commodities funds. Over the past 5 years, VCMDX returned 10.26%/yr vs 11.09%/yr for BRCYX. Their correlation of 0.89 means they have usually moved in the same direction. VCMDX charges 0.16%/yr vs 1.06%/yr for BRCYX.
Performance
VCMDX vs. BRCYX - Performance Comparison
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Returns By Period
In the year-to-date period, VCMDX achieves a 17.84% return, which is significantly lower than BRCYX's 26.35% return.
VCMDX
- 1D
- -0.16%
- 1M
- 5.95%
- 6M
- 12.52%
- YTD
- 17.84%
- 1Y
- 30.13%
- 3Y*
- 11.96%
- 5Y*
- 10.26%
- 10Y*
- —
- ALL TIME*
- 12.09%
BRCYX
- 1D
- -0.23%
- 1M
- 7.20%
- 6M
- 20.03%
- YTD
- 26.35%
- 1Y
- 42.93%
- 3Y*
- 15.29%
- 5Y*
- 11.09%
- 10Y*
- 7.61%
- ALL TIME*
- 2.43%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VCMDX vs. BRCYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VCMDX Vanguard Commodity Strategy Fund Admiral Shares | 17.84% | 18.20% | 5.27% | -7.45% | 13.83% | 34.82% | 5.07% | 2.74% |
BRCYX Invesco Balanced-Risk Commodity Strategy Fund | 26.35% | 18.82% | 5.70% | -3.15% | 7.94% | 19.54% | 7.89% | 1.88% |
Correlation
The correlation between VCMDX and BRCYX is 0.94, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.94 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2019 | 0.89 |
The correlation between VCMDX and BRCYX has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.
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Return for Risk
VCMDX vs. BRCYX — Risk / Return Rank
VCMDX
BRCYX
VCMDX vs. BRCYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Commodity Strategy Fund Admiral Shares (VCMDX) and Invesco Balanced-Risk Commodity Strategy Fund (BRCYX). 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.
| VCMDX | BRCYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.40 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 2.47 | -0.23 |
| Martin ratioReturn relative to average drawdown | 7.36 | 8.13 | -0.78 |
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Drawdowns
VCMDX vs. BRCYX - Drawdown Comparison
The maximum VCMDX drawdown since its inception was -26.67%, smaller than the maximum BRCYX drawdown of -60.05%. Use the drawdown chart below to compare losses from any high point for VCMDX and BRCYX.
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Drawdown Indicators
| VCMDX | BRCYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.67% | -60.05% | +33.38% |
Max Drawdown (1Y)Largest decline over 1 year | -13.39% | -17.02% | +3.63% |
Max Drawdown (3Y)Largest decline over 3 years | -13.39% | -17.02% | +3.63% |
Max Drawdown (5Y)Largest decline over 5 years | -25.45% | -20.42% | -5.03% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.09% | — |
Current DrawdownCurrent decline from peak | -7.37% | -9.35% | +1.98% |
Average DrawdownAverage peak-to-trough decline | -10.81% | -27.04% | +16.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.08% | 5.16% | -1.08% |
Volatility
VCMDX vs. BRCYX - Volatility Comparison
The current volatility for Vanguard Commodity Strategy Fund Admiral Shares (VCMDX) is 4.02%, while Invesco Balanced-Risk Commodity Strategy Fund (BRCYX) has a volatility of 4.24%. This indicates that VCMDX experiences smaller price fluctuations and is considered to be less risky than BRCYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCMDX | BRCYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.02% | 4.24% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 12.51% | 15.57% | -3.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.37% | 18.23% | -2.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.82% | 15.76% | +0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.37% | 14.32% | +1.05% |
VCMDX vs. BRCYX - Expense Ratio Comparison
VCMDX has a 0.16% expense ratio, which is lower than BRCYX's 1.06% expense ratio.
Dividends
VCMDX vs. BRCYX - Dividend Comparison
VCMDX's dividend yield for the trailing twelve months is around 12.91%, more than BRCYX's 10.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BRCYX Invesco Balanced-Risk Commodity Strategy Fund | 10.85% | 13.71% | 4.95% | 3.71% | 9.93% | 16.64% | 0.00% | 0.91% | 0.25% | 0.01% | 2.74% |
VCMDX Vanguard Commodity Strategy Fund Admiral Shares | 12.91% | 15.21% | 2.19% | 2.50% | 14.21% | 30.56% | 0.50% | 0.60% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, VCMDX and BRCYX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BRCYX has higher volatility (4.24%) compared to VCMDX (4.02%). In terms of maximum drawdown, VCMDX dropped -26.67% vs BRCYX's -60.05%.
BRCYX currently has the higher Sharpe Ratio (2.31 vs 1.98), 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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