XOUT vs. ARCIX

Last updated Jun 4, 2026

XOUT (GraniteShares XOUT U.S. Large Cap ETF) and ARCIX (AQR Risk-Balanced Commodities Strategy Fund) are both funds - XOUT is a Large Cap Growth Equities fund tracking the XOUT U.S. Large Cap Index, while ARCIX is a Commodities fund managed by AQR Funds. Over the past 5 years, XOUT returned 10.93%/yr vs 15.82%/yr for ARCIX. At a 0.17 correlation, their price movements are largely independent. XOUT charges 0.60%/yr vs 1.00%/yr for ARCIX.

Performance

XOUT vs. ARCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares XOUT U.S. Large Cap ETF (XOUT) and AQR Risk-Balanced Commodities Strategy Fund (ARCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XOUT achieves a -3.24% return, which is significantly lower than ARCIX's 21.57% return.

XOUT

• 1D: -2.27%
• 1M: 9.28%
• YTD: -3.24%
• 6M: -4.85%
• 1Y: 8.51%
• 3Y*: 18.88%
• 5Y*: 10.93%
• 10Y*: —

ARCIX

• 1D: 0.18%
• 1M: -1.23%
• YTD: 21.57%
• 6M: 23.81%
• 1Y: 40.49%
• 3Y*: 18.04%
• 5Y*: 15.82%
• 10Y*: 12.31%

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

XOUT vs. ARCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XOUT GraniteShares XOUT U.S. Large Cap ETF	-3.24%	18.18%	23.11%	42.32%	-28.18%	26.13%	28.71%	11.32%
ARCIX AQR Risk-Balanced Commodities Strategy Fund	21.57%	20.99%	7.43%	-0.22%	21.39%	39.74%	8.15%	8.72%

Correlation

The correlation between XOUT and ARCIX is 0.05, 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	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (All Time) Calculated using the full available price history since Oct 8, 2019	0.17

The correlation between XOUT and ARCIX shifts across timeframes, from 0.05 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.

Return for Risk

XOUT vs. ARCIX — Risk / Return Rank

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

XOUT

XOUT Risk / Return Rank: 14
XOUT Sharpe Ratio Rank: 15
XOUT Sortino Ratio Rank: 15
XOUT Omega Ratio Rank: 15
XOUT Calmar Ratio Rank: 13
XOUT Martin Ratio Rank: 13

ARCIX

ARCIX Risk / Return Rank: 82
ARCIX Sharpe Ratio Rank: 85
ARCIX Sortino Ratio Rank: 70
ARCIX Omega Ratio Rank: 76
ARCIX Calmar Ratio Rank: 92
ARCIX Martin Ratio Rank: 88

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.

XOUT vs. ARCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares XOUT U.S. Large Cap ETF (XOUT) and AQR Risk-Balanced Commodities Strategy Fund (ARCIX). 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.

	XOUT	ARCIX	Difference
Sharpe ratio: Return per unit of total volatility	0.44	2.76	-2.32
Sortino ratio: Return per unit of downside risk	0.72	3.48	-2.76
Omega ratio: Gain probability vs. loss probability	1.09	1.50	-0.41
Calmar ratio: Return relative to maximum drawdown	0.37	4.92	-4.56
Martin ratio: Return relative to average drawdown	0.92	17.44	-16.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XOUT vs. ARCIX - Sharpe Ratio Comparison

The current XOUT Sharpe Ratio is 0.44, which is lower than the ARCIX Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of XOUT and ARCIX, 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

	XOUT	ARCIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.44	2.76	-2.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.84	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.32	+0.35

Drawdowns

XOUT vs. ARCIX - Drawdown Comparison

The maximum XOUT drawdown since its inception was -31.29%, smaller than the maximum ARCIX drawdown of -54.25%. Use the drawdown chart below to compare losses from any high point for XOUT and ARCIX.

Drawdown Indicators

	XOUT	ARCIX	Difference
Max Drawdown Largest peak-to-trough decline	-31.29%	-54.25%	+22.96%
Max Drawdown (1Y) Largest decline over 1 year	-23.21%	-8.36%	-14.85%
Max Drawdown (3Y) Largest decline over 3 years	-23.77%	-13.67%	-10.10%
Max Drawdown (5Y) Largest decline over 5 years	-31.29%	-20.29%	-11.00%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.45%	—
Current Drawdown Current decline from peak	-6.09%	-3.92%	-2.17%
Average Drawdown Average peak-to-trough decline	-8.41%	-25.38%	+16.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.25%	2.36%	+6.89%

Volatility

XOUT vs. ARCIX - Volatility Comparison

GraniteShares XOUT U.S. Large Cap ETF (XOUT) has a higher volatility of 7.48% compared to AQR Risk-Balanced Commodities Strategy Fund (ARCIX) at 4.88%. This indicates that XOUT's price experiences larger fluctuations and is considered to be riskier than ARCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XOUT	ARCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.48%	4.88%	+2.60%
Volatility (6M) Calculated over the trailing 6-month period	16.17%	12.62%	+3.55%
Volatility (1Y) Calculated over the trailing 1-year period	19.55%	14.97%	+4.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.78%	19.04%	+2.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.23%	17.43%	+5.80%

XOUT vs. ARCIX - Expense Ratio Comparison

XOUT has a 0.60% expense ratio, which is lower than ARCIX's 1.00% expense ratio.

Dividends

XOUT vs. ARCIX - Dividend Comparison

XOUT has not paid dividends to shareholders, while ARCIX's dividend yield for the trailing twelve months is around 11.05%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
ARCIX AQR Risk-Balanced Commodities Strategy Fund	11.05%	13.44%	2.11%	7.56%	9.51%	18.23%	0.09%	5.19%	0.67%	0.01%	4.82%
XOUT GraniteShares XOUT U.S. Large Cap ETF	0.00%	0.00%	0.00%	0.40%	0.51%	0.28%	0.53%	0.19%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XOUT and ARCIX in my portfolio?

XOUT and ARCIX have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XOUT or ARCIX?

XOUT has higher volatility (7.48%) compared to ARCIX (4.88%). In terms of maximum drawdown, XOUT dropped -31.29% vs ARCIX's -54.25%.

Which has better risk-adjusted returns?

ARCIX currently has the higher Sharpe Ratio (2.76 vs 0.44), 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.