KBIWX vs. MLOZX

Last updated Jun 23, 2026

KBIWX (KBI Global Investors Aquarius Fund) and MLOZX (Cohen & Steers MLP & Energy Opportunity Fund, Inc.) are both Energy Equities funds. Over the past 5 years, KBIWX returned 6.91%/yr vs 18.96%/yr for MLOZX. A 0.53 correlation means they provide meaningful diversification when combined. KBIWX charges 1.10%/yr vs 0.90%/yr for MLOZX.

Performance

KBIWX vs. MLOZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KBI Global Investors Aquarius Fund (KBIWX) and Cohen & Steers MLP & Energy Opportunity Fund, Inc. (MLOZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KBIWX achieves a 3.28% return, which is significantly lower than MLOZX's 32.43% return.

KBIWX

• 1D: 1.07%
• 1M: 1.34%
• YTD: 3.28%
• 6M: 2.18%
• 1Y: 7.65%
• 3Y*: 9.47%
• 5Y*: 6.91%
• 10Y*: —

MLOZX

• 1D: 0.00%
• 1M: -2.53%
• YTD: 32.43%
• 6M: 32.70%
• 1Y: 48.31%
• 3Y*: 23.88%
• 5Y*: 18.96%
• 10Y*: 10.37%

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

KBIWX vs. MLOZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
KBIWX KBI Global Investors Aquarius Fund	3.28%	13.98%	3.89%	19.47%	-14.44%	27.34%	13.48%	24.31%	-6.76%
MLOZX Cohen & Steers MLP & Energy Opportunity Fund, Inc.	32.43%	17.35%	12.16%	10.49%	21.10%	39.09%	-26.70%	12.62%	-15.29%

Correlation

The correlation between KBIWX and MLOZX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (All Time) Calculated using the full available price history since Oct 12, 2018	0.53

Over the past year, the correlation between KBIWX and MLOZX has dropped to 0.23 - well below their long-term average of 0.53, suggesting their price drivers have been diverging.

Return for Risk

KBIWX vs. MLOZX — Risk / Return Rank

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

KBIWX

KBIWX Risk / Return Rank: 7
KBIWX Sharpe Ratio Rank: 7
KBIWX Sortino Ratio Rank: 7
KBIWX Omega Ratio Rank: 6
KBIWX Calmar Ratio Rank: 7
KBIWX Martin Ratio Rank: 6

MLOZX

MLOZX Risk / Return Rank: 95
MLOZX Sharpe Ratio Rank: 97
MLOZX Sortino Ratio Rank: 93
MLOZX Omega Ratio Rank: 89
MLOZX Calmar Ratio Rank: 99
MLOZX Martin Ratio Rank: 98

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.

KBIWX vs. MLOZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KBI Global Investors Aquarius Fund (KBIWX) and Cohen & Steers MLP & Energy Opportunity Fund, Inc. (MLOZX). 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.

	KBIWX	MLOZX	Difference
Sharpe ratio: Return per unit of total volatility	0.51	3.40	-2.89
Sortino ratio: Return per unit of downside risk	0.83	4.46	-3.64
Omega ratio: Gain probability vs. loss probability	1.10	1.60	-0.50
Calmar ratio: Return relative to maximum drawdown	0.60	10.56	-9.97
Martin ratio: Return relative to average drawdown	1.50	30.43	-28.93

KBIWX vs. MLOZX - Sharpe Ratio Comparison

The current KBIWX Sharpe Ratio is 0.51, which is lower than the MLOZX Sharpe Ratio of 3.40. The chart below compares the historical Sharpe Ratios of KBIWX and MLOZX, 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

KBIWX vs. MLOZX - Drawdown Comparison

The maximum KBIWX drawdown since its inception was -39.00%, smaller than the maximum MLOZX drawdown of -72.01%. Use the drawdown chart below to compare losses from any high point for KBIWX and MLOZX.

Drawdown Indicators

	KBIWX	MLOZX	Difference
Max Drawdown Largest peak-to-trough decline	-39.00%	-72.01%	+33.01%
Max Drawdown (1Y) Largest decline over 1 year	-12.25%	-4.71%	-7.54%
Max Drawdown (3Y) Largest decline over 3 years	-22.30%	-20.84%	-1.46%
Max Drawdown (5Y) Largest decline over 5 years	-26.88%	-20.84%	-6.04%
Max Drawdown (10Y) Largest decline over 10 years	—	-64.94%	—
Current Drawdown Current decline from peak	-7.52%	-3.19%	-4.33%
Average Drawdown Average peak-to-trough decline	-6.76%	-20.57%	+13.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.85%	1.63%	+3.22%

Volatility

KBIWX vs. MLOZX - Volatility Comparison

KBI Global Investors Aquarius Fund (KBIWX) has a higher volatility of 4.53% compared to Cohen & Steers MLP & Energy Opportunity Fund, Inc. (MLOZX) at 4.22%. This indicates that KBIWX's price experiences larger fluctuations and is considered to be riskier than MLOZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KBIWX	MLOZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.53%	4.22%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	11.17%	11.46%	-0.29%
Volatility (1Y) Calculated over the trailing 1-year period	14.26%	14.62%	-0.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.19%	18.33%	-0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.68%	24.09%	-4.41%

KBIWX vs. MLOZX - Expense Ratio Comparison

KBIWX has a 1.10% expense ratio, which is higher than MLOZX's 0.90% expense ratio.

Dividends

KBIWX vs. MLOZX - Dividend Comparison

KBIWX's dividend yield for the trailing twelve months is around 8.64%, more than MLOZX's 1.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KBIWX KBI Global Investors Aquarius Fund	8.64%	8.93%	19.35%	5.40%	7.76%	19.57%	2.13%	2.79%	0.06%	0.00%	0.00%	0.00%
MLOZX Cohen & Steers MLP & Energy Opportunity Fund, Inc.	1.84%	1.71%	10.24%	4.61%	3.66%	3.08%	6.57%	6.21%	4.44%	3.86%	3.72%	6.05%

Frequently Asked Questions

Can I hold both KBIWX and MLOZX in my portfolio?

KBIWX and MLOZX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KBIWX or MLOZX?

KBIWX has higher volatility (4.53%) compared to MLOZX (4.22%). In terms of maximum drawdown, KBIWX dropped -39.00% vs MLOZX's -72.01%.

Which has better risk-adjusted returns?

MLOZX currently has the higher Sharpe Ratio (3.40 vs 0.51), 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.