- Issuer
- Goehring & Rozencwajg
- Inception Date
- Dec 30, 2016
- Category
- Commodity Producers Equities
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
Share Price Chart
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Performance
GRHAX Performance Chart
Goehring & Rozencwajg Resources Fund Retail Class (GRHAX) is up 19.6% since the beginning of the year. GRHAX is currently trading at $23 per share. Investors who bought $1,000 worth of GRHAX shares 5 years ago would now be looking at an investment worth $2,614.
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Returns By Period
Goehring & Rozencwajg Resources Fund Retail Class (GRHAX) has returned 19.64% so far this year and 66.37% over the past 12 months.
Goehring & Rozencwajg Resources Fund Retail Class
- 1D
- 0.30%
- 1M
- -1.45%
- YTD
- 19.64%
- 6M
- 21.19%
- 1Y
- 66.37%
- 3Y*
- 30.93%
- 5Y*
- 21.19%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -2.64%
- 1M
- 0.25%
- YTD
- 7.86%
- 6M
- 7.47%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GRHAX Monthly Returns History
Based on dividend-adjusted daily data since Jan 3, 2017, GRHAX's average daily return is +0.06%, while the average monthly return is +1.27%. At this rate, an investment would double in approximately 4.6 years.
Historically, 57% of months were positive and 43% were negative. The best month was Apr 2020 with a return of +33.4%, while the worst month was Mar 2020 at -28.2%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 5 months.
On a daily basis, GRHAX closed higher 51% of trading days. The best single day was Mar 24, 2020 with a return of +11.5%, while the worst single day was Mar 9, 2020 at -17.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 14.94% | 9.31% | -3.46% | 1.15% | -4.68% | 2.30% | 19.64% | ||||||
| 2025 | 3.22% | -5.62% | 5.37% | -1.96% | 10.32% | 10.22% | -1.45% | 6.74% | 15.13% | 0.71% | 3.51% | 4.20% | 61.00% |
| 2024 | -1.76% | -2.26% | 7.88% | 1.40% | 6.91% | -8.64% | 0.37% | -4.90% | 3.59% | 2.18% | 3.83% | -8.69% | -1.71% |
| 2023 | 7.83% | -3.51% | -3.47% | -0.00% | -6.68% | 9.73% | 10.38% | 1.59% | 0.97% | -2.81% | 1.67% | 0.98% | 16.19% |
| 2022 | 2.96% | 11.52% | 15.66% | -2.90% | 3.37% | -20.90% | 13.78% | 3.38% | -12.19% | 12.70% | 2.74% | -7.66% | 16.43% |
| 2021 | 4.18% | 19.61% | 2.24% | 5.22% | 12.24% | 2.16% | -8.36% | -0.44% | 13.25% | 9.84% | -7.99% | 0.68% | 61.61% |
Benchmark Metrics
Goehring & Rozencwajg Resources Fund Retail Class has an annualized alpha of 39.52%, beta of 0.84, and R2 of 0.16 versus S&P 500 Index. Calculated based on daily prices since January 04, 2017.
- This fund captured 146.21% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -211.97%) - a profile typical of hedging or uncorrelated assets.
- R2 of 0.16 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 39.52%
- Beta
- 0.84
- R²
- 0.16
- Upside Capture
- 146.21%
- Downside Capture
- -211.97%
Expense Ratio
GRHAX has a high expense ratio of 1.28%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
GRHAX ranks 80 for risk / return — in the top 80% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Goehring & Rozencwajg Resources Fund Retail Class (GRHAX) and compare them to S&P 500 Index.
| GRHAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.43 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 6.48 | — | — |
| Martin ratioReturn relative to average drawdown | 15.69 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Goehring & Rozencwajg Resources Fund Retail Class provided a 2.74% dividend yield over the last twelve months, with an annual payout of $0.63 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.63 | $0.63 | $0.48 | $0.40 | $0.16 | $0.31 | $0.11 | $0.03 | $0.06 | $0.05 |
Dividend yield | 2.74% | 3.28% | 3.87% | 3.03% | 1.41% | 3.08% | 1.76% | 0.43% | 0.88% | 0.52% |
Monthly Dividends
The table displays the monthly dividend distributions for Goehring & Rozencwajg Resources Fund Retail Class. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.63 | $0.63 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.48 | $0.48 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.40 | $0.40 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.16 | $0.16 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.31 | $0.31 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Goehring & Rozencwajg Resources Fund Retail Class. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Goehring & Rozencwajg Resources Fund Retail Class was 71.03%, occurring on Mar 18, 2020. Recovery took 390 trading sessions.
The current Goehring & Rozencwajg Resources Fund Retail Class drawdown is 5.36%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -71.03%Mar 2020 | 3y 1mo | 1y 6mo | 4y 7moFeb 2017 - Oct 2021 |
Bear market2022 | -31.48%Jul 2022 | 2mo 18d | 1y 9mo | 1y 11moApr 2022 - Apr 2024 |
2025 selloff2025 | -25.49%Apr 2025 | 10mo 22d | 1mo 29d | 1y 16dMay 2024 - Jun 2025 |
2021 correction2021 | -17.12%Dec 2021 | 1mo 25d | 2mo 10d | 4mo 5dOct 2021 - Feb 2022 |
2025 correction2025 | -10.58%Nov 2025 | 1mo 6d | 13d | 1mo 19dOct 2025 - Dec 2025 |
Drawdown Indicators
| GRHAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.03% | -9.10% | -61.93% |
Max Drawdown (1Y)Largest decline over 1 year | -10.58% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -25.49% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -31.48% | — | — |
Current DrawdownCurrent decline from peak | -5.36% | -2.97% | -2.39% |
Average DrawdownAverage peak-to-trough decline | -18.54% | -1.13% | -17.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.35% | — | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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