HRNOX vs. HEQ
HRNOX (Hood River New Opportunities Fund Institutional Class) and HEQ (John Hancock Diversified Income Fund) are both Diversified Portfolio funds. Over the past year, HRNOX returned 77.09% vs 19.96% for HEQ. At a 0.50 correlation, their price movements are largely independent. HRNOX charges 0.95%/yr vs 0.01%/yr for HEQ.
Performance
HRNOX vs. HEQ - Performance Comparison
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Returns By Period
In the year-to-date period, HRNOX achieves a 31.43% return, which is significantly higher than HEQ's 11.35% return.
HRNOX
- 1D
- -0.42%
- 1M
- 3.84%
- YTD
- 31.43%
- 6M
- 28.91%
- 1Y
- 77.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HEQ
- 1D
- 0.88%
- 1M
- 0.37%
- YTD
- 11.35%
- 6M
- 11.25%
- 1Y
- 19.96%
- 3Y*
- 13.31%
- 5Y*
- 7.33%
- 10Y*
- 7.60%
HRNOX vs. HEQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HRNOX Hood River New Opportunities Fund Institutional Class | 31.43% | 35.76% | 31.31% |
HEQ John Hancock Diversified Income Fund | 11.35% | 15.64% | 4.22% |
Correlation
The correlation between HRNOX and HEQ is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2024 | 0.50 |
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Return for Risk
HRNOX vs. HEQ — Risk / Return Rank
HRNOX
HEQ
HRNOX vs. HEQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hood River New Opportunities Fund Institutional Class (HRNOX) and John Hancock Diversified Income Fund (HEQ). 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.
| HRNOX | HEQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.93 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.35 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 5.89 | 2.90 | +2.99 |
| Martin ratioReturn relative to average drawdown | 24.22 | 11.66 | +12.56 |
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Drawdowns
HRNOX vs. HEQ - Drawdown Comparison
The maximum HRNOX drawdown since its inception was -31.44%, smaller than the maximum HEQ drawdown of -44.38%. Use the drawdown chart below to compare losses from any high point for HRNOX and HEQ.
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Drawdown Indicators
| HRNOX | HEQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.44% | -44.38% | +12.94% |
Max Drawdown (1Y)Largest decline over 1 year | -13.39% | -6.92% | -6.47% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.12% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.37% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.38% | — |
Current DrawdownCurrent decline from peak | -0.51% | -1.82% | +1.31% |
Average DrawdownAverage peak-to-trough decline | -4.97% | -8.55% | +3.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.25% | 1.72% | +1.53% |
Volatility
HRNOX vs. HEQ - Volatility Comparison
Hood River New Opportunities Fund Institutional Class (HRNOX) has a higher volatility of 10.19% compared to John Hancock Diversified Income Fund (HEQ) at 3.55%. This indicates that HRNOX's price experiences larger fluctuations and is considered to be riskier than HEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HRNOX | HEQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.19% | 3.55% | +6.64% |
Volatility (6M)Calculated over the trailing 6-month period | 22.55% | 9.01% | +13.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.29% | 10.77% | +17.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.28% | 16.51% | +12.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.28% | 18.83% | +10.45% |
HRNOX vs. HEQ - Expense Ratio Comparison
HRNOX has a 0.95% expense ratio, which is higher than HEQ's 0.02% expense ratio.
Dividends
HRNOX vs. HEQ - Dividend Comparison
HRNOX has not paid dividends to shareholders, while HEQ's dividend yield for the trailing twelve months is around 8.73%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HEQ John Hancock Diversified Income Fund | 8.73% | 9.30% | 9.79% | 10.75% | 10.09% | 8.92% | 11.64% | 10.09% | 11.50% | 10.44% | 9.57% | 10.40% |
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
HRNOX and HEQ have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HRNOX has higher volatility (10.19%) compared to HEQ (3.55%). In terms of maximum drawdown, HRNOX dropped -31.44% vs HEQ's -44.38%.
HRNOX currently has the higher Sharpe Ratio (2.79 vs 1.86), 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.
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