- ISIN
- US48249T1060
- CUSIP
- 48249T106
- Issuer
- KKR Asset Management
- Inception Date
- Jul 25, 2013
- Category
- Multisector Bonds
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
KIO Performance Chart
KKR Income Opportunities Fund (KIO) is up 2.9% since the beginning of the year. KIO is currently trading at $11 per share. Investors who bought $1,000 worth of KIO shares 5 years ago would now be looking at an investment worth $1,197.
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Returns By Period
KKR Income Opportunities Fund (KIO) has returned 2.88% so far this year and 2.86% over the past 12 months. Over the last ten years, KIO has returned 7.75% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
KKR Income Opportunities Fund
- 1D
- -0.27%
- 1M
- 0.46%
- YTD
- 2.88%
- 6M
- 2.97%
- 1Y
- 2.86%
- 3Y*
- 10.75%
- 5Y*
- 3.67%
- 10Y*
- 7.75%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
KIO Monthly Returns History
Based on dividend-adjusted daily data since Jul 26, 2013, KIO's average daily return is +0.03%, while the average monthly return is +0.57%. At this rate, an investment would double in approximately 10.2 years.
Historically, 59% of months were positive and 41% were negative. The best month was Mar 2016 with a return of +11.8%, while the worst month was Mar 2020 at -25.2%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 6 months.
On a daily basis, KIO closed higher 52% of trading days. The best single day was Mar 20, 2020 with a return of +11.5%, while the worst single day was Mar 18, 2020 at -19.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.05% | 0.00% | -3.03% | 4.22% | 0.81% | -0.08% | 2.88% | ||||||
| 2025 | -4.75% | -0.57% | -0.22% | -2.53% | 3.49% | 4.48% | 2.58% | -1.18% | 1.86% | -2.94% | -2.23% | -0.07% | -2.49% |
| 2024 | 3.85% | 4.54% | 2.04% | -0.80% | 1.37% | 3.39% | 5.88% | 2.48% | 1.87% | -4.72% | -3.16% | 0.83% | 18.45% |
| 2023 | 10.69% | -2.36% | -3.15% | 2.58% | 1.55% | 4.88% | 4.34% | 4.88% | -2.98% | -4.14% | 7.54% | 5.09% | 31.53% |
| 2022 | -5.92% | -4.55% | -3.11% | -5.20% | -3.70% | -9.52% | 5.93% | 1.90% | -6.56% | -2.22% | 5.41% | -3.97% | -28.25% |
| 2021 | 2.81% | 4.72% | 3.96% | 2.25% | 3.23% | 1.86% | -1.60% | 2.50% | -0.76% | 2.42% | -1.97% | 4.86% | 26.82% |
Benchmark Metrics
KKR Income Opportunities Fund has an annualized alpha of 1.12%, beta of 0.46, and R2 of 0.25 versus S&P 500 Index. Calculated based on daily prices since July 26, 2013.
- This fund participated in 75.05% of S&P 500 Index downside but only 57.07% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.46 may look defensive, but with R2 of 0.25 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.25 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
- 1.12%
- Beta
- 0.46
- R²
- 0.25
- Upside Capture
- 57.07%
- Downside Capture
- 75.05%
Expense Ratio
KIO has an expense ratio of 0.04%, which is considered low.
Return for Risk
Risk / Return Rank
KIO ranks 4 for risk / return — in the bottom 4% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for KKR Income Opportunities Fund (KIO) and compare them to S&P 500 Index.
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.
| KIO | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.74 | ||
| Sortino ratioReturn per unit of downside risk | -2.28 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.37 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.26 | 2.78 | -2.52 |
| Martin ratioReturn relative to average drawdown | 0.57 | 12.44 | -11.87 |
Dividends
Dividend History
KKR Income Opportunities Fund provided a 13.04% dividend yield over the last twelve months, with an annual payout of $1.46 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.46 | $1.46 | $1.46 | $1.42 | $1.24 | $1.24 | $1.43 | $1.47 | $1.47 | $1.52 | $1.56 | $1.47 |
Dividend yield | 13.04% | 12.58% | 10.90% | 11.32% | 11.44% | 7.45% | 10.12% | 9.51% | 10.53% | 9.66% | 9.92% | 10.81% |
Monthly Dividends
The table displays the monthly dividend distributions for KKR Income Opportunities Fund. 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 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.73 | ||||||
| 2025 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $1.46 |
| 2024 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $1.46 |
| 2023 | $0.10 | $0.11 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $1.42 |
| 2022 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $1.24 |
| 2021 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $1.24 |
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 KKR Income Opportunities Fund. 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 KKR Income Opportunities Fund was 43.87%, occurring on Mar 18, 2020. Recovery took 216 trading sessions.
The current KKR Income Opportunities Fund drawdown is 8.41%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -43.87%Mar 2020 | 26d | 10mo 14d | 11mo 10dFeb 2020 - Jan 2021 |
Bear market2022 | -31.87%Oct 2022 | 9mo 14d | 1y 4mo | 2y 1moJan 2022 - Feb 2024 |
2025 selloff2025 | -22.85%Apr 2025 | 5mo 29d | — | 1y 8moOct 2024 - now |
2016 bear market2016 | -22.07%Feb 2016 | 1y 7mo | 4mo 6d | 1y 11moJul 2014 - Jun 2016 |
Rate-hike selloffLate 2018 | -18.49%Dec 2018 | 3mo 25d | 3mo 21d | 7mo 16dAug 2018 - Apr 2019 |
Drawdown Indicators
| KIO | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.87% | -56.78% | +12.91% |
Max Drawdown (1Y)Largest decline over 1 year | -11.01% | -9.10% | -1.91% |
Max Drawdown (3Y)Largest decline over 3 years | -22.85% | -18.90% | -3.95% |
Max Drawdown (5Y)Largest decline over 5 years | -31.87% | -25.43% | -6.44% |
Max Drawdown (10Y)Largest decline over 10 years | -43.87% | -33.92% | -9.95% |
Current DrawdownCurrent decline from peak | -8.41% | -1.80% | -6.61% |
Average DrawdownAverage peak-to-trough decline | -8.08% | -10.71% | +2.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.06% | 2.03% | +3.03% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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