HRIIX vs. HRIOX

Last updated Jun 5, 2026

HRIIX (Hood River International Opportunity Fund Investor Class) and HRIOX (Hood River International Opportunity Fund) are both Foreign Small & Mid Cap Equities funds. Over the past year, HRIIX returned 89.00% vs 89.38% for HRIOX. With a 1.00 correlation, they move nearly in lockstep. HRIIX charges 1.51%/yr vs 1.50%/yr for HRIOX.

Performance

HRIIX vs. HRIOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hood River International Opportunity Fund Investor Class (HRIIX) and Hood River International Opportunity Fund (HRIOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with HRIIX having a 43.54% return and HRIOX slightly higher at 43.66%.

HRIIX

• 1D: -1.43%
• 1M: 5.29%
• YTD: 43.54%
• 6M: 43.94%
• 1Y: 89.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HRIOX

• 1D: -1.43%
• 1M: 5.32%
• YTD: 43.66%
• 6M: 44.07%
• 1Y: 89.38%
• 3Y*: 40.93%
• 5Y*: —
• 10Y*: —

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

HRIIX vs. HRIOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HRIIX Hood River International Opportunity Fund Investor Class	43.54%	42.94%	19.95%	20.39%
HRIOX Hood River International Opportunity Fund	43.66%	43.32%	20.19%	20.40%

Correlation

The correlation between HRIIX and HRIOX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	1.00

The correlation between HRIIX and HRIOX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

HRIIX vs. HRIOX — Risk / Return Rank

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

HRIIX

HRIIX Risk / Return Rank: 94
HRIIX Sharpe Ratio Rank: 98
HRIIX Sortino Ratio Rank: 92
HRIIX Omega Ratio Rank: 86
HRIIX Calmar Ratio Rank: 97
HRIIX Martin Ratio Rank: 97

HRIOX

HRIOX Risk / Return Rank: 94
HRIOX Sharpe Ratio Rank: 98
HRIOX Sortino Ratio Rank: 92
HRIOX Omega Ratio Rank: 87
HRIOX Calmar Ratio Rank: 97
HRIOX Martin Ratio Rank: 97

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.

HRIIX vs. HRIOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hood River International Opportunity Fund Investor Class (HRIIX) and Hood River International Opportunity Fund (HRIOX). 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.

	HRIIX	HRIOX	Difference
Sharpe ratio: Return per unit of total volatility	3.86	3.88	-0.01
Sortino ratio: Return per unit of downside risk	4.65	4.66	-0.02
Omega ratio: Gain probability vs. loss probability	1.61	1.61	0.00
Calmar ratio: Return relative to maximum drawdown	6.82	6.84	-0.03
Martin ratio: Return relative to average drawdown	27.74	27.87	-0.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HRIIX vs. HRIOX - Sharpe Ratio Comparison

The current HRIIX Sharpe Ratio is 3.86, which is comparable to the HRIOX Sharpe Ratio of 3.88. The chart below compares the historical Sharpe Ratios of HRIIX and HRIOX, 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

	HRIIX	HRIOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.86	3.88	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	2.34	1.00	+1.35

Drawdowns

HRIIX vs. HRIOX - Drawdown Comparison

The maximum HRIIX drawdown since its inception was -24.78%, smaller than the maximum HRIOX drawdown of -38.76%. Use the drawdown chart below to compare losses from any high point for HRIIX and HRIOX.

Drawdown Indicators

	HRIIX	HRIOX	Difference
Max Drawdown Largest peak-to-trough decline	-24.78%	-38.76%	+13.98%
Max Drawdown (1Y) Largest decline over 1 year	-13.78%	-13.78%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	—	-24.76%	—
Current Drawdown Current decline from peak	-1.43%	-1.43%	0.00%
Average Drawdown Average peak-to-trough decline	-3.47%	-12.30%	+8.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.38%	3.38%	0.00%

Volatility

HRIIX vs. HRIOX - Volatility Comparison

Hood River International Opportunity Fund Investor Class (HRIIX) and Hood River International Opportunity Fund (HRIOX) have volatilities of 8.86% and 8.85%, 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.

Volatility by Period

	HRIIX	HRIOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.86%	8.85%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	20.00%	20.00%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	24.31%	24.33%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.26%	21.29%	+0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.26%	21.29%	+0.97%

HRIIX vs. HRIOX - Expense Ratio Comparison

HRIIX has a 1.51% expense ratio, which is higher than HRIOX's 1.50% expense ratio.

Dividends

HRIIX vs. HRIOX - Dividend Comparison

HRIIX's dividend yield for the trailing twelve months is around 4.01%, less than HRIOX's 4.09% yield.

Position	TTM	2025	2024	2023	2022	2021
HRIIX Hood River International Opportunity Fund Investor Class	4.01%	5.76%	0.03%	1.41%	0.00%	0.00%
HRIOX Hood River International Opportunity Fund	4.09%	5.88%	0.16%	1.44%	0.00%	0.21%

Frequently Asked Questions

Can I hold both HRIIX and HRIOX in my portfolio?

With a correlation of 1.00, HRIIX and HRIOX 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.

Which is riskier, HRIIX or HRIOX?

HRIIX has higher volatility (8.86%) compared to HRIOX (8.85%). In terms of maximum drawdown, HRIIX dropped -24.78% vs HRIOX's -38.76%.

Which has better risk-adjusted returns?

HRIOX currently has the higher Sharpe Ratio (3.88 vs 3.86), 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.