HRSMX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Hood River Small-Cap Growth Fund (HRSMX) and S&P 500 Index (^GSPC).

HRSMX is managed by Hood River Capital Management. It was launched on Jan 2, 2003.

Performance

HRSMX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hood River Small-Cap Growth Fund (HRSMX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

HRSMX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HRSMX Hood River Small-Cap Growth Fund	5.38%	23.85%	35.48%	21.52%	-27.99%	23.19%	60.80%	24.13%	-6.91%	20.60%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, HRSMX achieves a 5.38% return, which is significantly higher than ^GSPC's -3.95% return. Over the past 10 years, HRSMX has outperformed ^GSPC with an annualized return of 17.50%, while ^GSPC has yielded a comparatively lower 12.24% annualized return.

HRSMX

• 1D: 5.79%
• 1M: -7.21%
• YTD: 5.38%
• 6M: 10.43%
• 1Y: 54.19%
• 3Y*: 26.46%
• 5Y*: 10.91%
• 10Y*: 17.50%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

HRSMX vs. ^GSPC — Risk / Return Rank

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

HRSMX

HRSMX Risk / Return Rank: 89
HRSMX Sharpe Ratio Rank: 88
HRSMX Sortino Ratio Rank: 86
HRSMX Omega Ratio Rank: 79
HRSMX Calmar Ratio Rank: 96
HRSMX Martin Ratio Rank: 96

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

HRSMX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hood River Small-Cap Growth Fund (HRSMX) and S&P 500 Index (^GSPC). 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.

	HRSMX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.79	0.92	+0.88
Sortino ratio Return per unit of downside risk	2.38	1.41	+0.96
Omega ratio Gain probability vs. loss probability	1.32	1.21	+0.10
Calmar ratio Return relative to maximum drawdown	3.49	1.41	+2.08
Martin ratio Return relative to average drawdown	13.94	6.61	+7.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HRSMX vs. ^GSPC - Sharpe Ratio Comparison

The current HRSMX Sharpe Ratio is 1.79, which is higher than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of HRSMX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HRSMX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	0.92	+0.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.61	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.68	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.46	+0.07

Correlation

The correlation between HRSMX and ^GSPC is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

HRSMX vs. ^GSPC - Drawdown Comparison

The maximum HRSMX drawdown since its inception was -64.92%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for HRSMX and ^GSPC.

Drawdown Indicators

	HRSMX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-64.92%	-56.78%	-8.14%
Max Drawdown (1Y) Largest decline over 1 year	-14.89%	-12.14%	-2.75%
Max Drawdown (5Y) Largest decline over 5 years	-38.49%	-25.43%	-13.06%
Max Drawdown (10Y) Largest decline over 10 years	-40.74%	-33.92%	-6.82%
Current Drawdown Current decline from peak	-7.21%	-5.78%	-1.43%
Average Drawdown Average peak-to-trough decline	-13.16%	-10.75%	-2.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.73%	2.60%	+1.13%

Volatility

HRSMX vs. ^GSPC - Volatility Comparison

Hood River Small-Cap Growth Fund (HRSMX) has a higher volatility of 12.35% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that HRSMX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HRSMX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.35%	5.37%	+6.98%
Volatility (6M) Calculated over the trailing 6-month period	21.73%	9.55%	+12.18%
Volatility (1Y) Calculated over the trailing 1-year period	30.18%	18.33%	+11.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.18%	16.90%	+10.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.82%	18.05%	+7.77%