HRIOX vs. HRIIX

Last updated Jun 4, 2026

HRIOX (Hood River International Opportunity Fund) and HRIIX (Hood River International Opportunity Fund Investor Class) are both Foreign Small & Mid Cap Equities funds. Over the past year, HRIOX returned 96.60% vs 96.24% for HRIIX. With a 1.00 correlation, they move nearly in lockstep. HRIOX charges 1.50%/yr vs 1.51%/yr for HRIIX.

Performance

HRIOX vs. HRIIX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with HRIOX having a 45.74% return and HRIIX slightly lower at 45.63%.

HRIOX

• 1D: 1.09%
• 1M: 9.48%
• YTD: 45.74%
• 6M: 47.75%
• 1Y: 96.60%
• 3Y*: 41.60%
• 5Y*: —
• 10Y*: —

HRIIX

• 1D: 1.10%
• 1M: 9.42%
• YTD: 45.63%
• 6M: 47.63%
• 1Y: 96.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HRIOX vs. HRIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HRIOX Hood River International Opportunity Fund	45.74%	43.32%	20.19%	20.40%
HRIIX Hood River International Opportunity Fund Investor Class	45.63%	42.94%	19.95%	20.39%

Correlation

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

Return for Risk

HRIOX vs. HRIIX — Risk / Return Rank

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

HRIOX

HRIOX Risk / Return Rank: 95
HRIOX Sharpe Ratio Rank: 98
HRIOX Sortino Ratio Rank: 94
HRIOX Omega Ratio Rank: 89
HRIOX Calmar Ratio Rank: 97
HRIOX Martin Ratio Rank: 97

HRIIX

HRIIX Risk / Return Rank: 95
HRIIX Sharpe Ratio Rank: 98
HRIIX Sortino Ratio Rank: 94
HRIIX Omega Ratio Rank: 89
HRIIX Calmar Ratio Rank: 97
HRIIX 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.

HRIOX vs. HRIIX - Risk-Adjusted Trends Comparison

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

	HRIOX	HRIIX	Difference
Sharpe ratio Return per unit of total volatility	4.03	4.02	+0.01
Sortino ratio Return per unit of downside risk	4.80	4.79	+0.02
Omega ratio Gain probability vs. loss probability	1.63	1.63	0.00
Calmar ratio Return relative to maximum drawdown	7.09	7.07	+0.03
Martin ratio Return relative to average drawdown	28.90	28.78	+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.

HRIOX vs. HRIIX - Sharpe Ratio Comparison

The current HRIOX Sharpe Ratio is 4.03, which is comparable to the HRIIX Sharpe Ratio of 4.02. The chart below compares the historical Sharpe Ratios of HRIOX and HRIIX, 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

	HRIOX	HRIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.03	4.02	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	2.39	-1.37

Drawdowns

HRIOX vs. HRIIX - Drawdown Comparison

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

Drawdown Indicators

	HRIOX	HRIIX	Difference
Max Drawdown Largest peak-to-trough decline	-38.76%	-24.78%	-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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-12.31%	-3.48%	-8.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.38%	3.38%	0.00%

Volatility

HRIOX vs. HRIIX - Volatility Comparison

Hood River International Opportunity Fund (HRIOX) and Hood River International Opportunity Fund Investor Class (HRIIX) have volatilities of 8.64% and 8.66%, 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

	HRIOX	HRIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.64%	8.66%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	19.97%	19.97%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	24.52%	24.50%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.29%	22.26%	-0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.29%	22.26%	-0.97%

HRIOX vs. HRIIX - Expense Ratio Comparison

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

Dividends

HRIOX vs. HRIIX - Dividend Comparison

HRIOX's dividend yield for the trailing twelve months is around 4.04%, more than HRIIX's 3.95% yield.

Position	TTM	2025	2024	2023	2022	2021
HRIIX Hood River International Opportunity Fund Investor Class	3.95%	5.76%	0.03%	1.41%	0.00%	0.00%
HRIOX Hood River International Opportunity Fund	4.04%	5.88%	0.16%	1.44%	0.00%	0.21%

Frequently Asked Questions

Can I hold both HRIOX and HRIIX in my portfolio?

With a correlation of 1.00, HRIOX and HRIIX 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, HRIOX or HRIIX?

HRIIX has higher volatility (8.66%) compared to HRIOX (8.64%). In terms of maximum drawdown, HRIOX dropped -38.76% vs HRIIX's -24.78%.

Which has better risk-adjusted returns?

HRIOX currently has the higher Sharpe Ratio (4.03 vs 4.02), 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.