KIO vs. ARDC
KIO (KKR Income Opportunities Fund) is Multisector Bonds fund managed by KKR, while ARDC (Ares Dynamic Credit Allocation Fund, Inc.) is a stock. Over the past 10 years, KIO returned 7.21%/yr vs 7.88%/yr for ARDC. Their 0.44 correlation means their historical movements had little consistent relationship. KIO charges 0.04%/yr vs 5.26%/yr for ARDC.
Performance
KIO vs. ARDC - Performance Comparison
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Returns By Period
In the year-to-date period, KIO achieves a 2.31% return, which is significantly higher than ARDC's -0.41% return. Over the past 10 years, KIO has underperformed ARDC with an annualized return of 7.21%, while ARDC has yielded a comparatively higher 7.88% annualized return.
KIO
- 1D
- -0.09%
- 1M
- -2.13%
- 6M
- 0.38%
- YTD
- 2.31%
- 1Y
- -2.19%
- 3Y*
- 9.61%
- 5Y*
- 3.32%
- 10Y*
- 7.21%
- ALL TIME*
- 5.87%
ARDC
- 1D
- 0.57%
- 1M
- -1.62%
- 6M
- -2.19%
- YTD
- -0.41%
- 1Y
- -3.58%
- 3Y*
- 9.83%
- 5Y*
- 4.75%
- 10Y*
- 7.88%
- ALL TIME*
- 5.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.02M | $1.56M | $1.49M | |
| $2.83M | $2.45M | $2.07M |
KIO vs. ARDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KIO KKR Income Opportunities Fund | 2.31% | -2.49% | 18.45% | 31.53% | -28.25% | 26.82% | 2.04% | 21.92% | -2.53% | 9.68% |
ARDC Ares Dynamic Credit Allocation Fund, Inc. | -0.41% | -3.10% | 21.05% | 32.35% | -22.21% | 23.12% | 2.56% | 21.26% | -8.80% | 17.63% |
Correlation
The correlation between KIO and ARDC is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.46 |
Correlation (3Y) Balances recent behavior with more history. | 0.39 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.51 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2013 | 0.44 |
The correlation between KIO and ARDC shifts across timeframes, from 0.39 (3 years) to 0.51 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
KIO vs. ARDC — Risk / Return Rank
KIO
ARDC
KIO vs. ARDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KKR Income Opportunities Fund (KIO) and Ares Dynamic Credit Allocation Fund, Inc. (ARDC). 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.
| KIO | ARDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.95 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | -0.23 | +0.03 |
| Martin ratioReturn relative to average drawdown | -0.43 | -0.45 | +0.02 |
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Drawdowns
KIO vs. ARDC - Drawdown Comparison
The maximum KIO drawdown since its inception was -43.87%, roughly equal to the maximum ARDC drawdown of -45.40%. Use the drawdown chart below to compare losses from any high point for KIO and ARDC.
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Drawdown Indicators
| KIO | ARDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.87% | -45.40% | +1.53% |
Max Drawdown (1Y)Largest decline over 1 year | -11.01% | -15.57% | +4.56% |
Max Drawdown (3Y)Largest decline over 3 years | -22.85% | -19.78% | -3.07% |
Max Drawdown (5Y)Largest decline over 5 years | -31.87% | -26.48% | -5.39% |
Max Drawdown (10Y)Largest decline over 10 years | -43.87% | -45.40% | +1.53% |
Current DrawdownCurrent decline from peak | -8.92% | -7.99% | -0.93% |
Average DrawdownAverage peak-to-trough decline | -8.08% | -6.65% | -1.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.16% | 8.03% | -2.87% |
Volatility
KIO vs. ARDC - Volatility Comparison
KKR Income Opportunities Fund (KIO) and Ares Dynamic Credit Allocation Fund, Inc. (ARDC) have volatilities of 2.61% and 2.54%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KIO | ARDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.61% | 2.54% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 7.91% | 7.52% | +0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.29% | 9.61% | +0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.19% | 13.79% | -0.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.34% | 16.86% | -0.52% |
KIO vs. ARDC - Expense Ratio Comparison
KIO has a 0.04% expense ratio, which is lower than ARDC's 5.26% expense ratio.
Dividends
KIO vs. ARDC - Dividend Comparison
KIO's dividend yield for the trailing twelve months is around 13.25%, more than ARDC's 10.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARDC Ares Dynamic Credit Allocation Fund, Inc. | 10.84% | 10.19% | 9.33% | 9.85% | 10.31% | 7.16% | 8.40% | 8.40% | 9.35% | 7.58% | 8.45% | 10.51% |
KIO KKR Income Opportunities Fund | 13.25% | 12.58% | 10.90% | 11.32% | 11.44% | 7.45% | 10.12% | 9.51% | 10.53% | 9.66% | 9.92% | 10.81% |
Frequently Asked Questions
KIO and ARDC have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KIO has higher volatility (2.61%) compared to ARDC (2.54%). In terms of maximum drawdown, KIO dropped -43.87% vs ARDC's -45.40%.
KIO currently has the higher Sharpe Ratio (-0.21 vs -0.37), 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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