HIO vs. FKRCX
HIO (Western Asset High Income Opportunity Fund Inc) and FKRCX (Franklin Gold and Precious Metals Fund) are both mutual funds - HIO is a High Yield Bonds fund managed by Franklin Templeton, while FKRCX is a Gold fund managed by Franklin Templeton. Over the past 10 years, HIO returned 5.44%/yr vs 11.52%/yr for FKRCX. Their 0.15 correlation means their historical movements had little consistent relationship. HIO charges 0.01%/yr vs 0.88%/yr for FKRCX.
Performance
HIO vs. FKRCX - Performance Comparison
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Returns By Period
In the year-to-date period, HIO achieves a 1.83% return, which is significantly higher than FKRCX's -10.16% return. Over the past 10 years, HIO has underperformed FKRCX with an annualized return of 5.44%, while FKRCX has yielded a comparatively higher 11.52% annualized return.
HIO
- 1D
- 0.57%
- 1M
- -2.58%
- 6M
- -0.73%
- YTD
- 1.83%
- 1Y
- 0.16%
- 3Y*
- 8.36%
- 5Y*
- 2.20%
- 10Y*
- 5.44%
- ALL TIME*
- 6.14%
FKRCX
- 1D
- 3.29%
- 1M
- -4.25%
- 6M
- -18.81%
- YTD
- -10.16%
- 1Y
- 65.72%
- 3Y*
- 45.65%
- 5Y*
- 19.47%
- 10Y*
- 11.52%
- ALL TIME*
- 6.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $1.80M | $1.29M | $1.25M |
HIO vs. FKRCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HIO Western Asset High Income Opportunity Fund Inc | 1.83% | 5.33% | 13.58% | 8.07% | -17.09% | 12.80% | 6.07% | 24.23% | -7.60% | 8.97% |
FKRCX Franklin Gold and Precious Metals Fund | -10.16% | 196.59% | 17.64% | 2.03% | -23.47% | -4.03% | 44.30% | 51.48% | -18.11% | -0.12% |
Correlation
The correlation between HIO and FKRCX is 0.22, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.22 |
Correlation (3Y) Balances recent behavior with more history. | 0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.24 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.21 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 1994 | 0.15 |
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Return for Risk
HIO vs. FKRCX — Risk / Return Rank
HIO
FKRCX
HIO vs. FKRCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset High Income Opportunity Fund Inc (HIO) and Franklin Gold and Precious Metals Fund (FKRCX). 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.
| HIO | FKRCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.46 | ||
| Sortino ratioReturn per unit of downside risk | -1.81 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.25 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 1.77 | -1.79 |
| Martin ratioReturn relative to average drawdown | -0.03 | 3.96 | -3.99 |
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Drawdowns
HIO vs. FKRCX - Drawdown Comparison
The maximum HIO drawdown since its inception was -49.69%, smaller than the maximum FKRCX drawdown of -78.85%. Use the drawdown chart below to compare losses from any high point for HIO and FKRCX.
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Drawdown Indicators
| HIO | FKRCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.69% | -78.85% | +29.16% |
Max Drawdown (1Y)Largest decline over 1 year | -6.70% | -37.40% | +30.70% |
Max Drawdown (3Y)Largest decline over 3 years | -13.29% | -37.40% | +24.11% |
Max Drawdown (5Y)Largest decline over 5 years | -26.18% | -48.79% | +22.61% |
Max Drawdown (10Y)Largest decline over 10 years | -40.57% | -49.54% | +8.97% |
Current DrawdownCurrent decline from peak | -2.96% | -33.23% | +30.27% |
Average DrawdownAverage peak-to-trough decline | -6.44% | -33.73% | +27.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 16.69% | -13.52% |
Volatility
HIO vs. FKRCX - Volatility Comparison
The current volatility for Western Asset High Income Opportunity Fund Inc (HIO) is 2.76%, while Franklin Gold and Precious Metals Fund (FKRCX) has a volatility of 13.21%. This indicates that HIO experiences smaller price fluctuations and is considered to be less risky than FKRCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIO | FKRCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.76% | 13.21% | -10.45% |
Volatility (6M)Calculated over the trailing 6-month period | 7.92% | 38.56% | -30.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.47% | 45.97% | -35.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.81% | 34.78% | -21.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.95% | 33.22% | -17.27% |
HIO vs. FKRCX - Expense Ratio Comparison
HIO has a 0.02% expense ratio, which is lower than FKRCX's 0.88% expense ratio.
Dividends
HIO vs. FKRCX - Dividend Comparison
HIO's dividend yield for the trailing twelve months is around 12.07%, which matches FKRCX's 11.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FKRCX Franklin Gold and Precious Metals Fund | 11.96% | 10.75% | 13.44% | 3.12% | 0.00% | 9.37% | 10.55% | 0.00% | 0.00% | 0.37% | 8.73% | 0.00% |
HIO Western Asset High Income Opportunity Fund Inc | 12.07% | 11.48% | 10.84% | 9.90% | 9.11% | 7.02% | 7.86% | 6.91% | 7.31% | 7.04% | 8.44% | 9.08% |
Frequently Asked Questions
HIO and FKRCX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FKRCX has higher volatility (13.21%) compared to HIO (2.76%). In terms of maximum drawdown, HIO dropped -49.69% vs FKRCX's -78.85%.
FKRCX currently has the higher Sharpe Ratio (1.45 vs -0.01), 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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