GRHIX vs. FLOWX

Last updated Jul 16, 2026

GRHIX (Goehring & Rozencwajg Resources Fund) and FLOWX (Fidelity Water Sustainability Fund) are both Energy Equities funds. Over the past 5 years, GRHIX returned 20.57%/yr vs 7.61%/yr for FLOWX. At a 0.47 correlation, their price movements are largely independent. GRHIX charges 0.92%/yr vs 1.00%/yr for FLOWX.

Performance

GRHIX vs. FLOWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goehring & Rozencwajg Resources Fund (GRHIX) and Fidelity Water Sustainability Fund (FLOWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GRHIX achieves a 4.53% return, which is significantly higher than FLOWX's 4.00% return.

GRHIX

• 1D: 0.93%
• 1M: -6.72%
• 6M: -5.22%
• YTD: 4.53%
• 1Y: 35.03%
• 3Y*: 22.54%
• 5Y*: 20.57%
• 10Y*: —

FLOWX

• 1D: 0.73%
• 1M: 3.15%
• 6M: 0.84%
• YTD: 4.00%
• 1Y: 9.77%
• 3Y*: 11.88%
• 5Y*: 7.61%
• 10Y*: —

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

GRHIX vs. FLOWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GRHIX Goehring & Rozencwajg Resources Fund	4.53%	61.65%	-1.51%	16.61%	16.38%	62.15%	54.26%
FLOWX Fidelity Water Sustainability Fund	4.00%	18.02%	8.78%	18.58%	-19.94%	28.52%	35.89%

Correlation

The correlation between GRHIX and FLOWX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (All Time) Calculated using the full available price history since Apr 16, 2020	0.47

The correlation between GRHIX and FLOWX shifts across timeframes, from 0.31 (1 year) to 0.47 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GRHIX vs. FLOWX — Risk / Return Rank

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

GRHIX

GRHIX Risk / Return Rank: 33
GRHIX Sharpe Ratio Rank: 38
GRHIX Sortino Ratio Rank: 33
GRHIX Omega Ratio Rank: 34
GRHIX Calmar Ratio Rank: 33
GRHIX Martin Ratio Rank: 28

FLOWX

FLOWX Risk / Return Rank: 10
FLOWX Sharpe Ratio Rank: 10
FLOWX Sortino Ratio Rank: 10
FLOWX Omega Ratio Rank: 10
FLOWX Calmar Ratio Rank: 10
FLOWX Martin Ratio Rank: 9

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.

GRHIX vs. FLOWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goehring & Rozencwajg Resources Fund (GRHIX) and Fidelity Water Sustainability Fund (FLOWX). 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.

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.

	GRHIX	FLOWX	Difference
Sharpe ratio: Return per unit of total volatility	1.35	0.58	+0.76
Sortino ratio: Return per unit of downside risk	1.80	0.90	+0.90
Omega ratio: Gain probability vs. loss probability	1.23	1.11	+0.12
Calmar ratio: Return relative to maximum drawdown	1.68	0.67	+1.01
Martin ratio: Return relative to average drawdown	4.96	1.62	+3.34

GRHIX vs. FLOWX - Sharpe Ratio Comparison

The current GRHIX Sharpe Ratio is 1.35, which is higher than the FLOWX Sharpe Ratio of 0.58. The chart below compares the historical Sharpe Ratios of GRHIX and FLOWX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GRHIX vs. FLOWX - Drawdown Comparison

The maximum GRHIX drawdown since its inception was -70.61%, which is greater than FLOWX's maximum drawdown of -30.63%. Use the drawdown chart below to compare losses from any high point for GRHIX and FLOWX.

Drawdown Indicators

	GRHIX	FLOWX	Difference
Max Drawdown Largest peak-to-trough decline	-70.61%	-30.63%	-39.98%
Max Drawdown (1Y) Largest decline over 1 year	-20.26%	-12.84%	-7.42%
Max Drawdown (3Y) Largest decline over 3 years	-25.32%	-16.13%	-9.19%
Max Drawdown (5Y) Largest decline over 5 years	-31.47%	-30.63%	-0.84%
Current Drawdown Current decline from peak	-17.32%	-6.82%	-10.50%
Average Drawdown Average peak-to-trough decline	-18.19%	-7.39%	-10.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.85%	5.28%	+1.57%

Volatility

GRHIX vs. FLOWX - Volatility Comparison

Goehring & Rozencwajg Resources Fund (GRHIX) has a higher volatility of 5.49% compared to Fidelity Water Sustainability Fund (FLOWX) at 4.48%. This indicates that GRHIX's price experiences larger fluctuations and is considered to be riskier than FLOWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GRHIX	FLOWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.49%	4.48%	+1.01%
Volatility (6M) Calculated over the trailing 6-month period	19.01%	11.92%	+7.09%
Volatility (1Y) Calculated over the trailing 1-year period	25.35%	14.76%	+10.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.04%	17.90%	+11.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.44%	18.13%	+11.31%

GRHIX vs. FLOWX - Expense Ratio Comparison

GRHIX has a 0.92% expense ratio, which is lower than FLOWX's 1.00% expense ratio.

Dividends

GRHIX vs. FLOWX - Dividend Comparison

GRHIX's dividend yield for the trailing twelve months is around 3.25%, less than FLOWX's 6.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLOWX Fidelity Water Sustainability Fund	6.53%	2.93%	2.51%	0.42%	0.08%	1.41%	1.49%	0.00%	0.00%	0.00%
GRHIX Goehring & Rozencwajg Resources Fund	3.25%	3.39%	4.02%	3.19%	1.21%	3.25%	2.03%	0.57%	1.18%	0.51%

Frequently Asked Questions

Can I hold both GRHIX and FLOWX in my portfolio?

GRHIX and FLOWX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GRHIX or FLOWX?

GRHIX has higher volatility (5.49%) compared to FLOWX (4.48%). In terms of maximum drawdown, GRHIX dropped -70.61% vs FLOWX's -30.63%.

Which has better risk-adjusted returns?

GRHIX currently has the higher Sharpe Ratio (1.34 vs 0.58), 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.