XOUT vs. ARCIX

Last updated Apr 1, 2026

Compare and contrast key facts about GraniteShares XOUT U.S. Large Cap ETF (XOUT) and AQR Risk-Balanced Commodities Strategy Fund (ARCIX).

XOUT is a passively managed fund by GraniteShares that tracks the performance of the XOUT U.S. Large Cap Index. It was launched on Oct 7, 2019. ARCIX is managed by AQR Funds. It was launched on Jul 8, 2012.

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.

XOUT vs. ARCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XOUT GraniteShares XOUT U.S. Large Cap ETF	-18.03%	18.18%	23.11%	42.32%	-28.18%	26.13%	28.71%	11.32%
ARCIX AQR Risk-Balanced Commodities Strategy Fund	17.04%	20.99%	7.43%	-0.22%	21.39%	39.74%	8.15%	8.72%

Returns By Period

In the year-to-date period, XOUT achieves a -18.03% return, which is significantly lower than ARCIX's 17.04% return.

XOUT

• 1D: 2.94%
• 1M: -5.98%
• YTD: -18.03%
• 6M: -16.05%
• 1Y: 5.30%
• 3Y*: 14.82%
• 5Y*: 8.20%
• 10Y*: —

ARCIX

• 1D: 0.56%
• 1M: 6.06%
• YTD: 17.04%
• 6M: 26.39%
• 1Y: 30.67%
• 3Y*: 14.38%
• 5Y*: 18.72%
• 10Y*: 12.98%

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

XOUT vs. ARCIX - Expense Ratio Comparison

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

ARCIX

AQR Risk-Balanced Commodities Strategy Fund

XOUT

GraniteShares XOUT U.S. Large Cap ETF

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: 18
XOUT Sharpe Ratio Rank: 18
XOUT Sortino Ratio Rank: 19
XOUT Omega Ratio Rank: 19
XOUT Calmar Ratio Rank: 16
XOUT Martin Ratio Rank: 17

ARCIX

ARCIX Risk / Return Rank: 90
ARCIX Sharpe Ratio Rank: 92
ARCIX Sortino Ratio Rank: 89
ARCIX Omega Ratio Rank: 87
ARCIX Calmar Ratio Rank: 94
ARCIX Martin Ratio Rank: 89

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	0.22	1.98	-1.75
Sortino ratio Return per unit of downside risk	0.50	2.48	-1.98
Omega ratio Gain probability vs. loss probability	1.07	1.37	-0.30
Calmar ratio Return relative to maximum drawdown	0.21	3.08	-2.87
Martin ratio Return relative to average drawdown	0.68	9.79	-9.11
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 0.22, which is lower than the ARCIX Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of XOUT and ARCIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XOUT	ARCIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.22	1.98	-1.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.98	-0.60
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.31	+0.25

Correlation

The correlation between XOUT and ARCIX is 0.17, 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

XOUT vs. ARCIX - Dividend Comparison

XOUT has not paid dividends to shareholders, while ARCIX's dividend yield for the trailing twelve months is around 11.48%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
ARCIX AQR Risk-Balanced Commodities Strategy Fund	11.48%	13.44%	2.11%	7.56%	9.51%	18.23%	0.09%	5.19%	0.67%	0.01%	4.82%

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%	-10.19%	-13.02%
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	-20.44%	-1.09%	-19.35%
Average Drawdown Average peak-to-trough decline	-8.26%	-25.68%	+17.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.10%	3.21%	+3.89%

Volatility

XOUT vs. ARCIX - Volatility Comparison

GraniteShares XOUT U.S. Large Cap ETF (XOUT) has a higher volatility of 6.74% compared to AQR Risk-Balanced Commodities Strategy Fund (ARCIX) at 5.41%. 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	6.74%	5.41%	+1.33%
Volatility (6M) Calculated over the trailing 6-month period	14.38%	12.64%	+1.74%
Volatility (1Y) Calculated over the trailing 1-year period	23.87%	15.98%	+7.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.44%	19.17%	+2.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.17%	17.46%	+5.71%