AVANX vs. HRIIX

Last updated Jun 4, 2026

AVANX (Avantis International Small Cap Value Fund Class G) and HRIIX (Hood River International Opportunity Fund Investor Class) are both Foreign Small & Mid Cap Equities funds. Both are actively managed. Over the past year, AVANX returned 45.66% vs 96.24% for HRIIX. A 0.71 correlation means they provide meaningful diversification when combined.

Performance

AVANX vs. HRIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis International Small Cap Value Fund Class G (AVANX) and Hood River International Opportunity Fund Investor Class (HRIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVANX achieves a 17.36% return, which is significantly lower than HRIIX's 45.63% return.

AVANX

• 1D: 0.21%
• 1M: 4.01%
• YTD: 17.36%
• 6M: 21.19%
• 1Y: 45.66%
• 3Y*: 28.63%
• 5Y*: —
• 10Y*: —

HRIIX

• 1D: 1.10%
• 1M: 9.42%
• YTD: 45.63%
• 6M: 47.63%
• 1Y: 96.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AVANX vs. HRIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AVANX Avantis International Small Cap Value Fund Class G	17.36%	48.78%	8.80%	16.28%
HRIIX Hood River International Opportunity Fund Investor Class	45.63%	42.94%	19.95%	20.39%

Correlation

The correlation between AVANX and HRIIX is 0.70, 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	0.70
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.71

The correlation between AVANX and HRIIX has been stable across timeframes, ranging from 0.70 to 0.71 - a consistent structural relationship.

Return for Risk

AVANX vs. HRIIX — Risk / Return Rank

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

AVANX

AVANX Risk / Return Rank: 80
AVANX Sharpe Ratio Rank: 89
AVANX Sortino Ratio Rank: 82
AVANX Omega Ratio Rank: 80
AVANX Calmar Ratio Rank: 77
AVANX Martin Ratio Rank: 73

HRIIX

HRIIX Risk / Return Rank: 95
HRIIX Sharpe Ratio Rank: 98
HRIIX Sortino Ratio Rank: 94
HRIIX Omega Ratio Rank: 89
HRIIX Calmar Ratio Rank: 97
HRIIX Martin Ratio Rank: 97

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.

AVANX vs. HRIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis International Small Cap Value Fund Class G (AVANX) and Hood River International Opportunity Fund Investor Class (HRIIX). 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.

	AVANX	HRIIX	Difference
Sharpe ratio Return per unit of total volatility	2.95	4.02	-1.06
Sortino ratio Return per unit of downside risk	3.91	4.79	-0.87
Omega ratio Gain probability vs. loss probability	1.53	1.63	-0.10
Calmar ratio Return relative to maximum drawdown	3.50	7.07	-3.57
Martin ratio Return relative to average drawdown	13.91	28.78	-14.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVANX vs. HRIIX - Sharpe Ratio Comparison

The current AVANX Sharpe Ratio is 2.95, which is comparable to the HRIIX Sharpe Ratio of 4.02. The chart below compares the historical Sharpe Ratios of AVANX and HRIIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AVANX	HRIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.95	4.02	-1.06
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	2.39	-1.32

Drawdowns

AVANX vs. HRIIX - Drawdown Comparison

The maximum AVANX drawdown since its inception was -25.35%, roughly equal to the maximum HRIIX drawdown of -24.78%. Use the drawdown chart below to compare losses from any high point for AVANX and HRIIX.

Drawdown Indicators

	AVANX	HRIIX	Difference
Max Drawdown Largest peak-to-trough decline	-25.35%	-24.78%	-0.57%
Max Drawdown (1Y) Largest decline over 1 year	-12.86%	-13.78%	+0.92%
Max Drawdown (3Y) Largest decline over 3 years	-13.83%	—	—
Current Drawdown Current decline from peak	-0.72%	0.00%	-0.72%
Average Drawdown Average peak-to-trough decline	-4.82%	-3.48%	-1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.23%	3.38%	-0.15%

Volatility

AVANX vs. HRIIX - Volatility Comparison

The current volatility for Avantis International Small Cap Value Fund Class G (AVANX) is 4.45%, while Hood River International Opportunity Fund Investor Class (HRIIX) has a volatility of 8.66%. This indicates that AVANX experiences smaller price fluctuations and is considered to be less risky than HRIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVANX	HRIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.45%	8.66%	-4.21%
Volatility (6M) Calculated over the trailing 6-month period	12.48%	19.97%	-7.49%
Volatility (1Y) Calculated over the trailing 1-year period	15.30%	24.50%	-9.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.09%	22.26%	-5.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.09%	22.26%	-5.17%

Dividends

AVANX vs. HRIIX - Dividend Comparison

AVANX's dividend yield for the trailing twelve months is around 9.26%, more than HRIIX's 3.95% yield.

Position	TTM	2025	2024	2023	2022
AVANX Avantis International Small Cap Value Fund Class G	9.26%	10.86%	4.74%	3.87%	3.70%
HRIIX Hood River International Opportunity Fund Investor Class	3.95%	5.76%	0.03%	1.41%	0.00%

Frequently Asked Questions

Can I hold both AVANX and HRIIX in my portfolio?

AVANX and HRIIX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVANX or HRIIX?

HRIIX has higher volatility (8.66%) compared to AVANX (4.45%). In terms of maximum drawdown, AVANX dropped -25.35% vs HRIIX's -24.78%.

Which has better risk-adjusted returns?

HRIIX currently has the higher Sharpe Ratio (4.02 vs 2.95), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.