GRHIX vs. GRHAX
GRHIX (Goehring & Rozencwajg Resources Fund) and GRHAX (Goehring & Rozencwajg Resources Fund Retail Class) are both mutual funds - GRHIX is a Energy Equities fund managed by Goehring & Rozencwajg, while GRHAX is a Natural Resources fund actively managed by Goehring & Rozencwajg. Over the past 5 years, GRHIX returned 21.33%/yr vs 21.07%/yr for GRHAX. Their 1.00 correlation means they have historically moved very closely together. GRHIX charges 0.92%/yr vs 1.28%/yr for GRHAX.
Performance
GRHIX vs. GRHAX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with GRHIX having a 6.01% return and GRHAX slightly lower at 5.89%.
GRHIX
- 1D
- 2.31%
- 1M
- 3.38%
- 6M
- -7.75%
- YTD
- 6.01%
- 1Y
- 43.99%
- 3Y*
- 20.06%
- 5Y*
- 21.33%
- 10Y*
- —
- ALL TIME*
- 10.06%
GRHAX
- 1D
- 2.30%
- 1M
- 3.38%
- 6M
- -7.87%
- YTD
- 5.89%
- 1Y
- 43.56%
- 3Y*
- 19.71%
- 5Y*
- 21.07%
- 10Y*
- —
- ALL TIME*
- 9.76%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
GRHIX vs. GRHAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GRHIX Goehring & Rozencwajg Resources Fund | 6.01% | 61.65% | -1.51% | 16.61% | 16.38% | 62.15% | -2.74% | 0.01% | -30.03% | -0.96% |
GRHAX Goehring & Rozencwajg Resources Fund Retail Class | 5.89% | 61.00% | -1.71% | 16.19% | 16.43% | 61.61% | -3.02% | -0.29% | -30.26% | -1.36% |
Correlation
The correlation between GRHIX and GRHAX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (3Y) Balances recent behavior with more history. | 1.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 1.00 |
The correlation between GRHIX and GRHAX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
GRHIX vs. GRHAX — Risk / Return Rank
GRHIX
GRHAX
GRHIX vs. GRHAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goehring & Rozencwajg Resources Fund (GRHIX) and Goehring & Rozencwajg Resources Fund Retail Class (GRHAX). 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 | GRHAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.26 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 1.93 | +0.03 |
| Martin ratioReturn relative to average drawdown | 5.16 | 5.09 | +0.07 |
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Drawdowns
GRHIX vs. GRHAX - Drawdown Comparison
The maximum GRHIX drawdown since its inception was -70.61%, roughly equal to the maximum GRHAX drawdown of -71.03%. Use the drawdown chart below to compare losses from any high point for GRHIX and GRHAX.
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Drawdown Indicators
| GRHIX | GRHAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.61% | -71.03% | +0.42% |
Max Drawdown (1Y)Largest decline over 1 year | -20.26% | -20.32% | +0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -25.32% | -25.49% | +0.17% |
Max Drawdown (5Y)Largest decline over 5 years | -31.47% | -31.48% | +0.01% |
Current DrawdownCurrent decline from peak | -16.15% | -16.23% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -18.18% | -18.51% | +0.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.68% | 7.71% | -0.03% |
Volatility
GRHIX vs. GRHAX - Volatility Comparison
Goehring & Rozencwajg Resources Fund (GRHIX) and Goehring & Rozencwajg Resources Fund Retail Class (GRHAX) have volatilities of 6.27% and 6.28%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GRHIX | GRHAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.27% | 6.28% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 19.01% | 19.03% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.75% | 25.79% | -0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.90% | 28.90% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.42% | 29.45% | -0.03% |
GRHIX vs. GRHAX - Expense Ratio Comparison
GRHIX has a 0.92% expense ratio, which is lower than GRHAX's 1.28% expense ratio.
Dividends
GRHIX vs. GRHAX - Dividend Comparison
GRHIX's dividend yield for the trailing twelve months is around 3.20%, more than GRHAX's 3.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GRHAX Goehring & Rozencwajg Resources Fund Retail Class | 3.09% | 3.28% | 3.87% | 3.03% | 1.41% | 3.08% | 1.76% | 0.43% | 0.88% | 0.52% |
GRHIX Goehring & Rozencwajg Resources Fund | 3.20% | 3.39% | 4.02% | 3.19% | 1.21% | 3.25% | 2.03% | 0.57% | 1.18% | 0.51% |
Frequently Asked Questions
With a correlation of 1.00, GRHIX and GRHAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
GRHAX has higher volatility (6.28%) compared to GRHIX (6.27%). In terms of maximum drawdown, GRHIX dropped -70.61% vs GRHAX's -71.03%.
GRHIX currently has the higher Sharpe Ratio (1.55 vs 1.53), 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.
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