GIFIX vs. GIOIX

Last updated Jun 5, 2026

GIFIX (Guggenheim Floating Rate Strategies Fund) and GIOIX (Guggenheim Macro Opportunities Fund) are both mutual funds - GIFIX is a Bank Loan fund actively managed by Guggenheim, while GIOIX is a Nontraditional Bonds fund actively managed by Guggenheim. Both are actively managed. Over the past 10 years, GIFIX returned 4.29%/yr vs 4.31%/yr for GIOIX. At a 0.49 correlation, their price movements are largely independent. GIFIX charges 0.78%/yr vs 0.96%/yr for GIOIX.

Performance

GIFIX vs. GIOIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Guggenheim Floating Rate Strategies Fund (GIFIX) and Guggenheim Macro Opportunities Fund (GIOIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with GIFIX having a 1.04% return and GIOIX slightly lower at 0.99%. Both investments have delivered pretty close results over the past 10 years, with GIFIX having a 4.29% annualized return and GIOIX not far ahead at 4.31%.

GIFIX

• 1D: -0.04%
• 1M: 0.47%
• YTD: 1.04%
• 6M: 1.60%
• 1Y: 3.19%
• 3Y*: 6.87%
• 5Y*: 4.96%
• 10Y*: 4.29%

GIOIX

• 1D: -0.12%
• 1M: 0.32%
• YTD: 0.99%
• 6M: 1.61%
• 1Y: 5.77%
• 3Y*: 7.55%
• 5Y*: 3.28%
• 10Y*: 4.31%

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

GIFIX vs. GIOIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GIFIX Guggenheim Floating Rate Strategies Fund	1.04%	4.13%	7.22%	13.03%	-2.05%	4.55%	1.36%	6.69%	-0.14%	3.63%
GIOIX Guggenheim Macro Opportunities Fund	0.99%	7.64%	7.78%	9.69%	-9.57%	1.71%	11.09%	2.25%	0.46%	5.32%

Correlation

The correlation between GIFIX and GIOIX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jan 4, 2012	0.49

Return for Risk

GIFIX vs. GIOIX — Risk / Return Rank

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

GIFIX

GIFIX Risk / Return Rank: 42
GIFIX Sharpe Ratio Rank: 23
GIFIX Sortino Ratio Rank: 60
GIFIX Omega Ratio Rank: 60
GIFIX Calmar Ratio Rank: 38
GIFIX Martin Ratio Rank: 30

GIOIX

GIOIX Risk / Return Rank: 75
GIOIX Sharpe Ratio Rank: 70
GIOIX Sortino Ratio Rank: 91
GIOIX Omega Ratio Rank: 87
GIOIX Calmar Ratio Rank: 56
GIOIX Martin Ratio Rank: 71

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.

GIFIX vs. GIOIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Guggenheim Floating Rate Strategies Fund (GIFIX) and Guggenheim Macro Opportunities Fund (GIOIX). 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.

	GIFIX	GIOIX	Difference
Sharpe ratio: Return per unit of total volatility	1.36	2.44	-1.08
Sortino ratio: Return per unit of downside risk	3.20	4.53	-1.33
Omega ratio: Gain probability vs. loss probability	1.42	1.61	-0.19
Calmar ratio: Return relative to maximum drawdown	2.30	2.84	-0.54
Martin ratio: Return relative to average drawdown	6.73	13.55	-6.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GIFIX vs. GIOIX - Sharpe Ratio Comparison

The current GIFIX Sharpe Ratio is 1.36, which is lower than the GIOIX Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of GIFIX and GIOIX, 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

	GIFIX	GIOIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	2.44	-1.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.84	1.04	+0.81
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.28	1.50	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	1.61	1.73	-0.12

Drawdowns

GIFIX vs. GIOIX - Drawdown Comparison

The maximum GIFIX drawdown since its inception was -19.03%, which is greater than GIOIX's maximum drawdown of -13.38%. Use the drawdown chart below to compare losses from any high point for GIFIX and GIOIX.

Drawdown Indicators

	GIFIX	GIOIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.03%	-13.38%	-5.65%
Max Drawdown (1Y) Largest decline over 1 year	-1.40%	-2.12%	+0.72%
Max Drawdown (3Y) Largest decline over 3 years	-2.49%	-2.12%	-0.37%
Max Drawdown (5Y) Largest decline over 5 years	-6.30%	-13.38%	+7.08%
Max Drawdown (10Y) Largest decline over 10 years	-19.03%	-13.38%	-5.65%
Current Drawdown Current decline from peak	-0.09%	-0.20%	+0.11%
Average Drawdown Average peak-to-trough decline	-0.75%	-1.42%	+0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	0.44%	+0.04%

Volatility

GIFIX vs. GIOIX - Volatility Comparison

The current volatility for Guggenheim Floating Rate Strategies Fund (GIFIX) is 0.65%, while Guggenheim Macro Opportunities Fund (GIOIX) has a volatility of 0.98%. This indicates that GIFIX experiences smaller price fluctuations and is considered to be less risky than GIOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GIFIX	GIOIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.65%	0.98%	-0.33%
Volatility (6M) Calculated over the trailing 6-month period	1.62%	2.00%	-0.38%
Volatility (1Y) Calculated over the trailing 1-year period	2.37%	2.47%	-0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.71%	3.18%	-0.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.36%	2.89%	+0.47%

GIFIX vs. GIOIX - Expense Ratio Comparison

GIFIX has a 0.78% expense ratio, which is lower than GIOIX's 0.96% expense ratio.

Dividends

GIFIX vs. GIOIX - Dividend Comparison

GIFIX's dividend yield for the trailing twelve months is around 7.01%, more than GIOIX's 6.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GIFIX Guggenheim Floating Rate Strategies Fund	7.01%	7.40%	8.47%	8.34%	3.64%	2.91%	3.78%	4.38%	4.71%	3.83%	4.10%	4.85%
GIOIX Guggenheim Macro Opportunities Fund	6.10%	5.86%	5.88%	6.45%	3.78%	3.10%	3.61%	3.29%	3.55%	3.54%	5.38%	5.82%

Frequently Asked Questions

Can I hold both GIFIX and GIOIX in my portfolio?

GIFIX and GIOIX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GIFIX or GIOIX?

GIOIX has higher volatility (0.98%) compared to GIFIX (0.65%). In terms of maximum drawdown, GIFIX dropped -19.03% vs GIOIX's -13.38%.

Which has better risk-adjusted returns?

GIOIX currently has the higher Sharpe Ratio (2.44 vs 1.36), 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.