HRIOX vs. KGGIX

Last updated Jun 24, 2026

HRIOX (Hood River International Opportunity Fund) and KGGIX (Kopernik Global All-Cap Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 3 years, HRIOX returned 42.84%/yr vs 21.24%/yr for KGGIX. A 0.56 correlation means they provide meaningful diversification when combined. HRIOX charges 1.50%/yr vs 1.01%/yr for KGGIX.

Performance

HRIOX vs. KGGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hood River International Opportunity Fund (HRIOX) and Kopernik Global All-Cap Fund (KGGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HRIOX achieves a 49.59% return, which is significantly higher than KGGIX's 3.61% return.

HRIOX

• 1D: 1.28%
• 1M: 7.53%
• YTD: 49.59%
• 6M: 48.28%
• 1Y: 98.29%
• 3Y*: 42.84%
• 5Y*: —
• 10Y*: —

KGGIX

• 1D: -1.29%
• 1M: -5.41%
• YTD: 3.61%
• 6M: 2.76%
• 1Y: 29.51%
• 3Y*: 21.24%
• 5Y*: 10.48%
• 10Y*: 12.60%

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

HRIOX vs. KGGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HRIOX Hood River International Opportunity Fund	49.59%	43.32%	20.19%	30.74%	-25.86%	2.01%
KGGIX Kopernik Global All-Cap Fund	3.61%	64.88%	-4.91%	13.43%	-9.05%	-0.97%

Correlation

The correlation between HRIOX and KGGIX is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (All Time) Calculated using the full available price history since Oct 5, 2021	0.56

The correlation between HRIOX and KGGIX has been stable across timeframes, ranging from 0.47 to 0.56 - a consistent structural relationship.

Return for Risk

HRIOX vs. KGGIX — Risk / Return Rank

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

HRIOX

HRIOX Risk / Return Rank: 96
HRIOX Sharpe Ratio Rank: 99
HRIOX Sortino Ratio Rank: 94
HRIOX Omega Ratio Rank: 90
HRIOX Calmar Ratio Rank: 98
HRIOX Martin Ratio Rank: 98

KGGIX

KGGIX Risk / Return Rank: 49
KGGIX Sharpe Ratio Rank: 53
KGGIX Sortino Ratio Rank: 43
KGGIX Omega Ratio Rank: 48
KGGIX Calmar Ratio Rank: 61
KGGIX Martin Ratio Rank: 40

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. KGGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hood River International Opportunity Fund (HRIOX) and Kopernik Global All-Cap Fund (KGGIX). 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.

	HRIOX	KGGIX	Difference
Sharpe ratio: Return per unit of total volatility	3.89	1.98	+1.91
Sortino ratio: Return per unit of downside risk	4.53	2.55	+1.98
Omega ratio: Gain probability vs. loss probability	1.61	1.35	+0.26
Calmar ratio: Return relative to maximum drawdown	7.24	2.86	+4.38
Martin ratio: Return relative to average drawdown	28.51	8.23	+20.27

HRIOX vs. KGGIX - Sharpe Ratio Comparison

The current HRIOX Sharpe Ratio is 3.89, which is higher than the KGGIX Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of HRIOX and KGGIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HRIOX vs. KGGIX - Drawdown Comparison

The maximum HRIOX drawdown since its inception was -38.76%, smaller than the maximum KGGIX drawdown of -45.11%. Use the drawdown chart below to compare losses from any high point for HRIOX and KGGIX.

Drawdown Indicators

	HRIOX	KGGIX	Difference
Max Drawdown Largest peak-to-trough decline	-38.76%	-45.11%	+6.35%
Max Drawdown (1Y) Largest decline over 1 year	-13.78%	-10.65%	-3.13%
Max Drawdown (3Y) Largest decline over 3 years	-24.76%	-13.76%	-11.00%
Max Drawdown (5Y) Largest decline over 5 years	—	-26.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.59%	—
Current Drawdown Current decline from peak	0.00%	-10.37%	+10.37%
Average Drawdown Average peak-to-trough decline	-12.20%	-9.50%	-2.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.49%	3.69%	-0.20%

Volatility

HRIOX vs. KGGIX - Volatility Comparison

Hood River International Opportunity Fund (HRIOX) has a higher volatility of 10.52% compared to Kopernik Global All-Cap Fund (KGGIX) at 4.88%. This indicates that HRIOX's price experiences larger fluctuations and is considered to be riskier than KGGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HRIOX	KGGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.52%	4.88%	+5.64%
Volatility (6M) Calculated over the trailing 6-month period	21.65%	12.85%	+8.80%
Volatility (1Y) Calculated over the trailing 1-year period	25.68%	15.41%	+10.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.61%	15.27%	+6.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.61%	14.99%	+6.62%

HRIOX vs. KGGIX - Expense Ratio Comparison

HRIOX has a 1.50% expense ratio, which is higher than KGGIX's 1.01% expense ratio.

Dividends

HRIOX vs. KGGIX - Dividend Comparison

HRIOX's dividend yield for the trailing twelve months is around 3.93%, less than KGGIX's 15.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HRIOX Hood River International Opportunity Fund	3.93%	5.88%	0.16%	1.44%	0.00%	0.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
KGGIX Kopernik Global All-Cap Fund	15.88%	16.46%	1.04%	8.60%	13.59%	9.30%	4.81%	3.02%	0.25%	4.40%	3.34%	0.81%

Frequently Asked Questions

Can I hold both HRIOX and KGGIX in my portfolio?

HRIOX and KGGIX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HRIOX or KGGIX?

HRIOX has higher volatility (10.52%) compared to KGGIX (4.88%). In terms of maximum drawdown, HRIOX dropped -38.76% vs KGGIX's -45.11%.

Which has better risk-adjusted returns?

HRIOX currently has the higher Sharpe Ratio (3.89 vs 1.98), 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.