Fund Evaluator:
ALPS/CorCmdty Mgmt CmpltCmdty Strat Inv (JCRAX)
Follow This Fund
Best Performing in Commodities Broad Basket Over the Last Year
| 33.5% | Invesco Balanced-Risk Commodity Strat Y (BRCYX) |
| 30.6% | ALPS/CorCmdty Mgmt CmpltCmdty Strat I (JCRIX) |
| 30.1% | ALPS/CorCmdty Mgmt CmpltCmdty Strat Inv (JCRAX) |
| 29.5% | PGIM Quant Solutions Commodity Strats Z (PQCZX) |
| 25.9% | AQR Risk-Balanced Commodities Strategy N (ARCNX) |
Fund Details
ALPS/CorCmdty Mgmt CmpltCmdty Strat Inv Overview
ALPS/CorCmdty Mgmt CmpltCmdty Strat Inv (JCRAX) is an actively managed Commodities Commodities Broad Basket fund. ALPS launched the fund in 2010.
The investment seeks to maximize real returns, consistent with prudent investment management. The fund seeks to achieve its investment objective by investing,under normal circumstances,directly or indirectly in a combination of equity securities of natural resource companies, as commodity-related equity securities (“Commodity Equity Investments”) and commodity futures-linked derivative instruments thereby obtaining exposure to the commodity markets.
About ALPS/CorCmdty Mgmt CmpltCmdty Strat Inv (JCRAX)
There are 3 members of the management team with an average tenure of 5.89 years: Robert Hyman (2010), Douglas Daly (2026), Nelson Louie (2024). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Morningstar Global Markets GR USD index with a weighting of 100% and Bloomberg Commodity TR USD index with a weighting of 100%. ALPS/CorCmdty Mgmt CmpltCmdty Strat Inv has 93 securities in its portfolio. The top 10 holdings constitute 148.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
ALPS/CorCmdty Mgmt CmpltCmdty Strat Inv is part of the Real Assets global asset class and is within the Commodities fund group. ALPS/CorCmdty Mgmt CmpltCmdty Strat Inv has 59.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -22.2%. There is 59.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 32.9% (32.9% domestic bond, 0.0% foreign bond and 0.0% convertible bond). ALPS/CorCmdty Mgmt CmpltCmdty Strat Inv has 29.4% of the portfolio in cash.
Assets Under Management
The fund has $17 million in total assets, which is below the $476 million average for the Commodities Broad Basket category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
JCRAX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The ALPS/CorCmdty Mgmt CmpltCmdty Strat Inv expense ratio is high compared to funds in the Commodities Broad Basket category. ALPS/CorCmdty Mgmt CmpltCmdty Strat Inv has an expense ratio of 1.42%, which is 29% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. ALPS/CorCmdty Mgmt CmpltCmdty Strat Inv has a portfolio turnover rate of 19%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 78% for the Commodities Broad Basket category.
Recently, in the month of June 2026, ALPS/CorCmdty Mgmt CmpltCmdty Strat Inv returned -8.5%, which earned it a grade of D, as the Commodities Broad Basket category had an average return of -8.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
ALPS/CorCmdty Mgmt CmpltCmdty Strat Inv has a trailing yield of 7.84%, which is below the 9.25% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
ALPS/CorCmdty Mgmt CmpltCmdty Strat Inv Grades
Year to date, the fund has returned 12.3%, 2.1 percentage points worse than the category, which translates into a grade of D. The fund has returned 30.1% over the past year (grade of A), 13.1% over the past three years (grade of B) and 9.7% per year over the past five years (grade of B) and 7.2% per year over the past 10 years (grade of B).
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JCRAX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| JCRAX Return (NAV) | -8.5% | -6.8% | 30.1% | 13.1% | 9.7% | 7.2% |
| JCRAX Grade | D | D | A | B | B | B |
| +/- Category | -0.4% | -0.7% | 4.1% | 1.1% | 0.1% | 0.7% |
| Commodities Broad Basket Avg | -8.1% | -6.0% | 26.0% | 12.0% | 9.6% | 6.5% |
| JCRAX Tax Cost Ratio | na | na | 3.4% | 1.9% | 3.2% | 1.9% |
JCRAX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| JCRAX Return (NAV) | 12.3% | 25.3% | 1.3% | -7.4% | 12.8% | 29.5% | 2.2% | 11.0% | -14.5% | 4.6% | 15.6% |
| JCRAX Grade | D | A | F | D | D | C | B | B | D | B | A |
| +/- Category | -2.1% | 9.4% | -3.7% | -1.3% | -1.6% | -1.1% | 4.8% | 1.0% | -1.3% | 0.0% | 2.0% |
| Commodities Broad Basket Avg | 14.4% | 15.9% | 5.0% | -6.1% | 14.4% | 30.6% | -2.7% | 10.0% | -13.2% | 4.6% | 13.5% |
| Risk Measures | |
| Standard Deviation: | 12.1% |
| Total Risk Index: | 0.99 - Average |
| Category Risk Index: | 0.95 - Average |
| Category Risk Grade: | C (45% Rank) |
| Beta: | 0.81 |
| R-Squared: | 81% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 7.8% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $928 Mil |
| Fund Total Assets: | $ 18 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 19% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 16.0 years | |||
| Average Tenure: 5.9 years | |||
| Managers (Year): Hyman Robert (2010), Louie Nelson (2024), Daly Douglas (2026) | |||
Portfolio Composition (as of 12/31/25)
| # of Holdings: | 93 |
| % in Top 10 Holdings: | 148.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 59.8% |
Portfolio Allocation |
|
| Domestic Stock: | -22.2% |
| Foreign Stock: | 59.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 32.9% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 29.4% |
Purchase Information
| Fund Family: | ALPS |
| Phone Number: | 866-759-5679 |
| Website: | www.alpsfunds.com |
| Status: | Open |
| Inception Date: | June 29, 2010 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $ 500 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.42% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.10% |
| Share Class: | ALPS/CorCmdty Mgmt CmpltCmdty Strat I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
