KGIIX vs. KGGIX

Last updated Jun 5, 2026

KGIIX (Kopernik International Fund) and KGGIX (Kopernik Global All-Cap Fund) are both mutual funds - KGIIX is a Foreign Large Cap Equities fund managed by Kopernik, while KGGIX is a Foreign Small & Mid Cap Equities fund managed by Kopernik. Over the past 10 years, KGIIX returned 10.07%/yr vs 13.51%/yr for KGGIX. Their correlation of 0.93 suggests significant overlap in exposure. KGIIX charges 1.04%/yr vs 1.01%/yr for KGGIX.

Performance

KGIIX vs. KGGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kopernik International Fund (KGIIX) and Kopernik Global All-Cap Fund (KGGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with KGIIX having a 9.06% return and KGGIX slightly higher at 9.41%. Over the past 10 years, KGIIX has underperformed KGGIX with an annualized return of 10.07%, while KGGIX has yielded a comparatively higher 13.51% annualized return.

KGIIX

• 1D: -0.69%
• 1M: -1.93%
• YTD: 9.06%
• 6M: 11.56%
• 1Y: 35.42%
• 3Y*: 18.65%
• 5Y*: 8.49%
• 10Y*: 10.07%

KGGIX

• 1D: -1.11%
• 1M: -2.53%
• YTD: 9.41%
• 6M: 11.68%
• 1Y: 40.45%
• 3Y*: 22.82%
• 5Y*: 11.01%
• 10Y*: 13.51%

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

KGIIX vs. KGGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KGIIX Kopernik International Fund	9.06%	54.97%	-7.01%	13.86%	-14.05%	16.62%	18.94%	16.37%	-6.24%	10.50%
KGGIX Kopernik Global All-Cap Fund	9.41%	64.88%	-4.91%	13.43%	-9.05%	16.86%	37.23%	10.00%	-11.07%	8.98%

Correlation

The correlation between KGIIX and KGGIX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.93

The correlation between KGIIX and KGGIX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

KGIIX vs. KGGIX — Risk / Return Rank

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

KGIIX

KGIIX Risk / Return Rank: 79
KGIIX Sharpe Ratio Rank: 86
KGIIX Sortino Ratio Rank: 74
KGIIX Omega Ratio Rank: 77
KGIIX Calmar Ratio Rank: 87
KGIIX Martin Ratio Rank: 70

KGGIX

KGGIX Risk / Return Rank: 76
KGGIX Sharpe Ratio Rank: 85
KGGIX Sortino Ratio Rank: 70
KGGIX Omega Ratio Rank: 74
KGGIX Calmar Ratio Rank: 84
KGGIX Martin Ratio Rank: 67

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.

KGIIX vs. KGGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kopernik International Fund (KGIIX) and Kopernik Global All-Cap Fund (KGGIX). 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.

	KGIIX	KGGIX	Difference
Sharpe ratio: Return per unit of total volatility	2.82	2.80	+0.02
Sortino ratio: Return per unit of downside risk	3.59	3.49	+0.10
Omega ratio: Gain probability vs. loss probability	1.51	1.49	+0.02
Calmar ratio: Return relative to maximum drawdown	4.18	3.94	+0.24
Martin ratio: Return relative to average drawdown	13.27	12.97	+0.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KGIIX vs. KGGIX - Sharpe Ratio Comparison

The current KGIIX Sharpe Ratio is 2.82, which is comparable to the KGGIX Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of KGIIX and KGGIX, 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

	KGIIX	KGGIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.82	2.80	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.73	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.91	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	0.63	+0.30

Drawdowns

KGIIX vs. KGGIX - Drawdown Comparison

The maximum KGIIX drawdown since its inception was -27.81%, smaller than the maximum KGGIX drawdown of -45.11%. Use the drawdown chart below to compare losses from any high point for KGIIX and KGGIX.

Drawdown Indicators

	KGIIX	KGGIX	Difference
Max Drawdown Largest peak-to-trough decline	-27.81%	-45.11%	+17.30%
Max Drawdown (1Y) Largest decline over 1 year	-8.76%	-10.65%	+1.89%
Max Drawdown (3Y) Largest decline over 3 years	-13.58%	-13.76%	+0.18%
Max Drawdown (5Y) Largest decline over 5 years	-27.81%	-26.43%	-1.38%
Max Drawdown (10Y) Largest decline over 10 years	-27.81%	-31.59%	+3.78%
Current Drawdown Current decline from peak	-4.91%	-5.35%	+0.44%
Average Drawdown Average peak-to-trough decline	-6.11%	-9.51%	+3.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	3.23%	-0.48%

Volatility

KGIIX vs. KGGIX - Volatility Comparison

The current volatility for Kopernik International Fund (KGIIX) is 3.05%, while Kopernik Global All-Cap Fund (KGGIX) has a volatility of 3.91%. This indicates that KGIIX experiences smaller price fluctuations and is considered to be less risky than KGGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KGIIX	KGGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	3.91%	-0.86%
Volatility (6M) Calculated over the trailing 6-month period	10.26%	12.16%	-1.90%
Volatility (1Y) Calculated over the trailing 1-year period	12.98%	14.99%	-2.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.21%	15.20%	-1.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.64%	14.97%	-2.33%

KGIIX vs. KGGIX - Expense Ratio Comparison

KGIIX has a 1.04% expense ratio, which is higher than KGGIX's 1.01% expense ratio.

Dividends

KGIIX vs. KGGIX - Dividend Comparison

KGIIX's dividend yield for the trailing twelve months is around 13.08%, less than KGGIX's 15.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KGGIX Kopernik Global All-Cap Fund	15.04%	16.46%	1.04%	8.60%	13.59%	9.30%	4.81%	3.02%	0.25%	4.40%	3.34%	0.81%
KGIIX Kopernik International Fund	13.08%	14.26%	0.48%	12.56%	2.46%	5.77%	2.89%	2.50%	1.19%	1.35%	0.33%	0.00%

Frequently Asked Questions

Can I hold both KGIIX and KGGIX in my portfolio?

With a correlation of 0.96, KGIIX and KGGIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, KGIIX or KGGIX?

KGGIX has higher volatility (3.91%) compared to KGIIX (3.05%). In terms of maximum drawdown, KGIIX dropped -27.81% vs KGGIX's -45.11%.

Which has better risk-adjusted returns?

KGIIX currently has the higher Sharpe Ratio (2.82 vs 2.80), 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.