IEGAX vs. HRIOX

Last updated Aug 1, 2026

IEGAX (Invesco EQV International Small Company Fund) and HRIOX (Hood River International Opportunity Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 3 years, IEGAX returned 11.15%/yr vs 28.39%/yr for HRIOX. Their 0.74 correlation means they have sometimes moved together and sometimes differently. IEGAX charges 1.49%/yr vs 1.50%/yr for HRIOX.

Performance

IEGAX vs. HRIOX - Performance Comparison

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

Returns By Period

In the year-to-date period, IEGAX achieves a 7.42% return, which is significantly lower than HRIOX's 19.05% return.

IEGAX

• 1D: 3.13%
• 1M: -1.04%
• 6M: 1.93%
• YTD: 7.42%
• 1Y: 12.15%
• 3Y*: 11.15%
• 5Y*: 6.54%
• 10Y*: 8.30%
• ALL TIME*: 8.59%

HRIOX

• 1D: 4.66%
• 1M: -12.92%
• 6M: 3.40%
• YTD: 19.05%
• 1Y: 48.98%
• 3Y*: 28.39%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.81%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HRIOX Hood River International Opportunity Fund	$0.00	$0.00	$0.00
IEGAX Invesco EQV International Small Company Fund	$0.00	$0.00	$0.00

IEGAX vs. HRIOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IEGAX Invesco EQV International Small Company Fund	7.42%	25.92%	-2.63%	14.10%	-11.28%	2.67%
HRIOX Hood River International Opportunity Fund	19.05%	43.32%	20.19%	30.74%	-25.86%	2.01%

Correlation

The correlation between IEGAX and HRIOX is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.73
Correlation (3Y) Balances recent behavior with more history.	0.70
Correlation (All Time) Calculated using the full available price history since Oct 5, 2021	0.74

The correlation between IEGAX and HRIOX has been stable across timeframes, ranging from 0.70 to 0.74 - a consistent structural relationship.

Return for Risk

IEGAX vs. HRIOX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IEGAX

IEGAX Risk / Return Rank: 20
IEGAX Sharpe Ratio Rank: 19
IEGAX Sortino Ratio Rank: 20
IEGAX Omega Ratio Rank: 21
IEGAX Calmar Ratio Rank: 19
IEGAX Martin Ratio Rank: 22

HRIOX

HRIOX Risk / Return Rank: 72
HRIOX Sharpe Ratio Rank: 78
HRIOX Sortino Ratio Rank: 70
HRIOX Omega Ratio Rank: 71
HRIOX Calmar Ratio Rank: 66
HRIOX Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IEGAX vs. HRIOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco EQV International Small Company Fund (IEGAX) and Hood River International Opportunity Fund (HRIOX). 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.

	IEGAX	HRIOX	Difference
Sharpe ratio: Return per unit of total volatility	0.72	1.81	-1.10
Sortino ratio: Return per unit of downside risk	1.13	2.37	-1.24
Omega ratio: Gain probability vs. loss probability	1.14	1.31	-0.17
Calmar ratio: Return relative to maximum drawdown	0.93	2.17	-1.24
Martin ratio: Return relative to average drawdown	3.14	9.18	-6.04

IEGAX vs. HRIOX - Sharpe Ratio Comparison

The current IEGAX Sharpe Ratio is 0.72, which is lower than the HRIOX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of IEGAX and HRIOX, 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

IEGAX vs. HRIOX - Drawdown Comparison

The maximum IEGAX drawdown since its inception was -65.36%, which is greater than HRIOX's maximum drawdown of -38.76%. Use the drawdown chart below to compare losses from any high point for IEGAX and HRIOX.

Drawdown Indicators

	IEGAX	HRIOX	Difference
Max Drawdown Largest peak-to-trough decline	-65.36%	-38.76%	-26.60%
Max Drawdown (1Y) Largest decline over 1 year	-12.41%	-23.96%	+11.55%
Max Drawdown (3Y) Largest decline over 3 years	-12.41%	-24.76%	+12.35%
Max Drawdown (5Y) Largest decline over 5 years	-23.64%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.09%	—	—
Current Drawdown Current decline from peak	-4.70%	-20.41%	+15.71%
Average Drawdown Average peak-to-trough decline	-13.18%	-12.21%	-0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	5.66%	-1.98%

Volatility

IEGAX vs. HRIOX - Volatility Comparison

The current volatility for Invesco EQV International Small Company Fund (IEGAX) is 5.61%, while Hood River International Opportunity Fund (HRIOX) has a volatility of 11.49%. This indicates that IEGAX experiences smaller price fluctuations and is considered to be less risky than HRIOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEGAX	HRIOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.61%	11.49%	-5.88%
Volatility (6M) Calculated over the trailing 6-month period	14.04%	24.72%	-10.68%
Volatility (1Y) Calculated over the trailing 1-year period	16.19%	28.70%	-12.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.71%	22.21%	-8.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.98%	22.21%	-8.23%

IEGAX vs. HRIOX - Expense Ratio Comparison

IEGAX has a 1.49% expense ratio, which is lower than HRIOX's 1.50% expense ratio.

Dividends

IEGAX vs. HRIOX - Dividend Comparison

IEGAX's dividend yield for the trailing twelve months is around 12.99%, more than HRIOX's 4.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HRIOX Hood River International Opportunity Fund	4.94%	5.88%	0.16%	1.44%	0.00%	0.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IEGAX Invesco EQV International Small Company Fund	12.99%	13.95%	3.17%	2.26%	2.98%	4.22%	1.11%	4.55%	3.87%	6.32%	6.29%	8.20%

Frequently Asked Questions

Can I hold both IEGAX and HRIOX in my portfolio?

IEGAX and HRIOX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IEGAX or HRIOX?

HRIOX has higher volatility (11.49%) compared to IEGAX (5.61%). In terms of maximum drawdown, IEGAX dropped -65.36% vs HRIOX's -38.76%.

Which has better risk-adjusted returns?

HRIOX currently has the higher Sharpe Ratio (1.81 vs 0.72), 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.