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GRHIX vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GRHIX vs. QQQ

Last updated Jun 24, 2026

GRHIX (Goehring & Rozencwajg Resources Fund) and QQQ (Invesco QQQ ETF) are both funds - GRHIX is a Energy Equities fund managed by Goehring & Rozencwajg, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 5 years, GRHIX returned 19.57%/yr vs 16.01%/yr for QQQ. At a 0.40 correlation, their price movements are largely independent. GRHIX charges 0.92%/yr vs 0.18%/yr for QQQ.

Performance

GRHIX vs. QQQ - Performance Comparison

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

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Returns By Period

In the year-to-date period, GRHIX achieves a 6.47% return, which is significantly lower than QQQ's 16.45% return.

GRHIX

1D
-0.48%
1M
-9.75%
YTD
6.47%
6M
4.65%
1Y
40.57%
3Y*
25.64%
5Y*
19.57%
10Y*
—

QQQ

1D
-3.29%
1M
-0.43%
YTD
16.45%
6M
14.99%
1Y
34.88%
3Y*
26.05%
5Y*
16.01%
10Y*
22.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GRHIX vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GRHIX
Goehring & Rozencwajg Resources Fund		6.47%61.65%-1.51%16.61%16.38%62.15%-2.74%0.01%-30.03%-0.96%
QQQ
Invesco QQQ ETF		16.45%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%

Correlation

The correlation between GRHIX and QQQ is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.37

Correlation (3Y)
Calculated over the trailing 3-year period

0.37

Correlation (5Y)
Calculated over the trailing 5-year period

0.40

Correlation (All Time)
Calculated using the full available price history since Jan 3, 2017

0.40

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Goehring & Rozencwajg Resources Fund

Invesco QQQ ETF

Often compared with GRHIX:
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Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. SPMO

Return for Risk

GRHIX vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GRHIX
GRHIX Risk / Return Rank: 3636
Overall Rank
GRHIX Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
GRHIX Sortino Ratio Rank: 2929
Sortino Ratio Rank
GRHIX Omega Ratio Rank: 2929
Omega Ratio Rank
GRHIX Calmar Ratio Rank: 4848
Calmar Ratio Rank
GRHIX Martin Ratio Rank: 3838
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 5959
Overall Rank
QQQ Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 5555
Sortino Ratio Rank
QQQ Omega Ratio Rank: 5858
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6161
Calmar Ratio Rank
QQQ Martin Ratio Rank: 6262
Martin Ratio Rank
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. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goehring & Rozencwajg Resources Fund (GRHIX) and Invesco QQQ ETF (QQQ). 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.

GRHIXQQQDifference
Sharpe ratioReturn per unit of total volatility
1.58
1.95

-0.38

Sortino ratioReturn per unit of downside risk
2.06
2.57

-0.51

Omega ratioGain probability vs. loss probability

1.26

1.35

-0.08

Calmar ratioReturn relative to maximum drawdown

2.53

2.93

-0.40

Martin ratioReturn relative to average drawdown

7.86

10.86

-3.01

GRHIX vs. QQQ - Sharpe Ratio Comparison

The current GRHIX Sharpe Ratio is 1.58, which is comparable to the QQQ Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of GRHIX and QQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

GRHIX vs. QQQ - Drawdown Comparison

The maximum GRHIX drawdown since its inception was -70.61%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for GRHIX and QQQ.

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Drawdown Indicators

GRHIXQQQDifference

Max Drawdown

Largest peak-to-trough decline

-70.61%

-82.97%

+12.36%

Max Drawdown (1Y)

Largest decline over 1 year

-15.79%

-11.96%

-3.83%

Max Drawdown (3Y)

Largest decline over 3 years

-25.32%

-22.77%

-2.55%

Max Drawdown (5Y)

Largest decline over 5 years

-31.47%

-35.12%

+3.65%

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.12%

—

Current Drawdown

Current decline from peak

-15.79%

-4.25%

-11.54%

Average Drawdown

Average peak-to-trough decline

-18.18%

-32.73%

+14.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.08%

3.22%

+1.86%

Volatility

GRHIX vs. QQQ - Volatility Comparison

The current volatility for Goehring & Rozencwajg Resources Fund (GRHIX) is 8.30%, while Invesco QQQ ETF (QQQ) has a volatility of 9.17%. This indicates that GRHIX experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GRHIXQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.30%

9.17%

-0.87%

Volatility (6M)

Calculated over the trailing 6-month period

19.20%

14.57%

+4.63%

Volatility (1Y)

Calculated over the trailing 1-year period

25.36%

17.96%

+7.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.12%

22.69%

+6.43%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

29.50%

22.42%

+7.08%

GRHIX vs. QQQ - Expense Ratio Comparison

GRHIX has a 0.92% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

GRHIX vs. QQQ - Dividend Comparison

GRHIX's dividend yield for the trailing twelve months is around 3.19%, more than QQQ's 0.43% yield.

PositionTTM20252024202320222021202020192018201720162015
GRHIX
Goehring & Rozencwajg Resources Fund		3.19%3.39%4.02%3.19%1.21%3.25%2.03%0.57%1.18%0.51%0.00%0.00%
QQQ
Invesco QQQ ETF		0.43%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%

Frequently Asked Questions

GRHIX and QQQ have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QQQ has higher volatility (9.17%) compared to GRHIX (8.30%). In terms of maximum drawdown, GRHIX dropped -70.61% vs QQQ's -82.97%.

QQQ currently has the higher Sharpe Ratio (1.95 vs 1.58), 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.

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