HRNOX vs. EIT-UN.TO

Last updated Jun 4, 2026

HRNOX (Hood River New Opportunities Fund Institutional Class) and EIT-UN.TO (Canoe EIT Income Fund) are both Diversified Portfolio funds. Over the past year, HRNOX returned 82.39% vs 24.01% for EIT-UN.TO. At a 0.27 correlation, their price movements are largely independent. HRNOX charges 0.95%/yr vs 1.10%/yr for EIT-UN.TO.

Performance

HRNOX vs. EIT-UN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hood River New Opportunities Fund Institutional Class (HRNOX) and Canoe EIT Income Fund (EIT-UN.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HRNOX is traded in USD, while EIT-UN.TO is traded in CAD. To make them comparable, the EIT-UN.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HRNOX achieves a 31.49% return, which is significantly higher than EIT-UN.TO's 26.21% return.

HRNOX

• 1D: 0.77%
• 1M: 9.60%
• YTD: 31.49%
• 6M: 32.75%
• 1Y: 82.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EIT-UN.TO

• 1D: 22.76%
• 1M: 21.68%
• YTD: 26.21%
• 6M: 34.50%
• 1Y: 24.01%
• 3Y*: 20.71%
• 5Y*: 124.78%
• 10Y*: 117.28%

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

HRNOX vs. EIT-UN.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HRNOX Hood River New Opportunities Fund Institutional Class	31.49%	35.76%	31.31%
EIT-UN.TO Canoe EIT Income Fund	26.21%	8.40%	8.37%

Correlation

The correlation between HRNOX and EIT-UN.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (All Time) Calculated using the full available price history since Aug 8, 2024	0.27

Return for Risk

HRNOX vs. EIT-UN.TO — Risk / Return Rank

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

HRNOX

HRNOX Risk / Return Rank: 87
HRNOX Sharpe Ratio Rank: 93
HRNOX Sortino Ratio Rank: 79
HRNOX Omega Ratio Rank: 72
HRNOX Calmar Ratio Rank: 96
HRNOX 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.

HRNOX vs. EIT-UN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hood River New Opportunities Fund Institutional Class (HRNOX) and Canoe EIT Income Fund (EIT-UN.TO). 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.

	HRNOX	EIT-UN.TO	Difference
Sharpe ratio Return per unit of total volatility	3.16	0.94	+2.22
Sortino ratio Return per unit of downside risk	3.79	2.38	+1.41
Omega ratio Gain probability vs. loss probability	1.48	1.69	-0.21
Calmar ratio Return relative to maximum drawdown	6.39	11.06	-4.67
Martin ratio Return relative to average drawdown	27.36	26.71	+0.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HRNOX vs. EIT-UN.TO - Sharpe Ratio Comparison

The current HRNOX Sharpe Ratio is 3.16, which is higher than the EIT-UN.TO Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of HRNOX and EIT-UN.TO, 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

	HRNOX	EIT-UN.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.16	0.94	+2.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.11	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.12	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.09	0.09	+2.00

Drawdowns

HRNOX vs. EIT-UN.TO - Drawdown Comparison

The maximum HRNOX drawdown since its inception was -31.44%, smaller than the maximum EIT-UN.TO drawdown of -54.80%. Use the drawdown chart below to compare losses from any high point for HRNOX and EIT-UN.TO.

Drawdown Indicators

	HRNOX	EIT-UN.TO	Difference
Max Drawdown Largest peak-to-trough decline	-31.44%	-54.80%	+23.36%
Max Drawdown (1Y) Largest decline over 1 year	-13.39%	-2.18%	-11.21%
Max Drawdown (3Y) Largest decline over 3 years	—	-10.16%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.40%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-54.80%	—
Current Drawdown Current decline from peak	-0.47%	0.00%	-0.47%
Average Drawdown Average peak-to-trough decline	-5.02%	-6.33%	+1.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.12%	6.75%	-3.63%

Volatility

HRNOX vs. EIT-UN.TO - Volatility Comparison

The current volatility for Hood River New Opportunities Fund Institutional Class (HRNOX) is 8.47%, while Canoe EIT Income Fund (EIT-UN.TO) has a volatility of 20.58%. This indicates that HRNOX experiences smaller price fluctuations and is considered to be less risky than EIT-UN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HRNOX	EIT-UN.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.47%	20.58%	-12.11%
Volatility (6M) Calculated over the trailing 6-month period	21.39%	21.13%	+0.26%
Volatility (1Y) Calculated over the trailing 1-year period	27.10%	25.66%	+1.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.92%	1,192.51%	-1,163.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.92%	1,019.40%	-990.48%

HRNOX vs. EIT-UN.TO - Expense Ratio Comparison

HRNOX has a 0.95% expense ratio, which is lower than EIT-UN.TO's 1.10% expense ratio.

Dividends

HRNOX vs. EIT-UN.TO - Dividend Comparison

HRNOX has not paid dividends to shareholders, while EIT-UN.TO's dividend yield for the trailing twelve months is around 10.19%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIT-UN.TO Canoe EIT Income Fund	10.19%	12.56%	7.90%	9.29%	8.97%	104.98%	108.64%	11.53%	11.62%	11.01%	10.06%	10.71%
HRNOX Hood River New Opportunities Fund Institutional Class	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HRNOX and EIT-UN.TO in my portfolio?

HRNOX and EIT-UN.TO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.