AIONX vs. KGIIX

Last updated Jun 4, 2026

AIONX (AQR International Momentum Style Fund Class N) and KGIIX (Kopernik International Fund) are both Foreign Large Cap Equities funds. A 0.57 correlation means they provide meaningful diversification when combined. AIONX charges 0.88%/yr vs 1.04%/yr for KGIIX.

Performance

AIONX vs. KGIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR International Momentum Style Fund Class N (AIONX) and Kopernik International Fund (KGIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AIONX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

KGIIX

• 1D: 0.16%
• 1M: -0.47%
• YTD: 9.82%
• 6M: 12.86%
• 1Y: 37.40%
• 3Y*: 18.92%
• 5Y*: 8.81%
• 10Y*: 10.15%

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

AIONX vs. KGIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AIONX AQR International Momentum Style Fund Class N	6.03%	34.58%	8.41%	16.39%	-19.64%	11.72%	16.32%	22.29%	-15.50%	24.99%
KGIIX Kopernik International Fund	9.82%	54.97%	-7.01%	13.86%	-14.05%	16.62%	18.94%	16.37%	-6.24%	10.50%

Correlation

The correlation between AIONX and KGIIX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.57

The correlation between AIONX and KGIIX shifts across timeframes, from 0.45 (3 years) to 0.59 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

AIONX vs. KGIIX — Risk / Return Rank

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

KGIIX

KGIIX Risk / Return Rank: 81
KGIIX Sharpe Ratio Rank: 88
KGIIX Sortino Ratio Rank: 77
KGIIX Omega Ratio Rank: 80
KGIIX Calmar Ratio Rank: 87
KGIIX Martin Ratio Rank: 72

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.

AIONX vs. KGIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR International Momentum Style Fund Class N (AIONX) and Kopernik International Fund (KGIIX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AIONX	KGIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.91	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.67	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.81	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.93	—

Drawdowns

Drawdown Indicators

	AIONX	KGIIX	Difference
Max Drawdown Largest peak-to-trough decline	—	-27.81%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-8.76%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.58%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.81%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.81%	—
Current Drawdown Current decline from peak	—	-4.26%	—
Average Drawdown Average peak-to-trough decline	—	-6.11%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.74%	—

Volatility

Volatility by Period

	AIONX	KGIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.98%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.23%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	12.97%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	13.21%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	12.64%	—

AIONX vs. KGIIX - Expense Ratio Comparison

AIONX has a 0.88% expense ratio, which is lower than KGIIX's 1.04% expense ratio.

Dividends

AIONX vs. KGIIX - Dividend Comparison

AIONX's dividend yield for the trailing twelve months is around 20.01%, more than KGIIX's 12.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIONX AQR International Momentum Style Fund Class N	20.01%	14.62%	21.87%	11.32%	2.62%	1.77%	0.95%	2.12%	1.85%	1.96%	2.23%	1.30%
KGIIX Kopernik International Fund	12.99%	14.26%	0.48%	12.56%	2.46%	5.77%	2.89%	2.50%	1.19%	1.35%	0.33%	0.00%

Frequently Asked Questions

Can I hold both AIONX and KGIIX in my portfolio?

AIONX and KGIIX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.