KIO vs. BWDTX
KIO (KKR Income Opportunities Fund) and BWDTX (Boyd Watterson Limited Duration Enhanced Income Fund) are both Multisector Bonds funds. Over the past 10 years, KIO returned 7.21%/yr vs 3.94%/yr for BWDTX. Their 0.33 correlation means their historical movements had little consistent relationship. KIO charges 0.04%/yr vs 0.40%/yr for BWDTX.
Performance
KIO vs. BWDTX - 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 BWDTX's 1.99% return. Over the past 10 years, KIO has outperformed BWDTX with an annualized return of 7.21%, while BWDTX has yielded a comparatively lower 3.94% 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%
BWDTX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 1.58%
- YTD
- 1.99%
- 1Y
- 5.02%
- 3Y*
- 6.17%
- 5Y*
- 4.18%
- 10Y*
- 3.94%
- ALL TIME*
- 3.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $2.83M | $2.45M | $2.07M |
KIO vs. BWDTX - 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% |
BWDTX Boyd Watterson Limited Duration Enhanced Income Fund | 1.99% | 7.14% | 4.92% | 9.80% | -3.16% | 2.32% | 4.66% | 7.94% | -0.51% | 4.08% |
Correlation
The correlation between KIO and BWDTX is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (3Y) Balances recent behavior with more history. | 0.33 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.41 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.33 |
Correlation (All Time) Calculated using the full available price history since Aug 2, 2016 | 0.33 |
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Return for Risk
KIO vs. BWDTX — Risk / Return Rank
KIO
BWDTX
KIO vs. BWDTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KKR Income Opportunities Fund (KIO) and Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX). 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 | BWDTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.14 | ||
| Sortino ratioReturn per unit of downside risk | -6.74 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 2.06 | -1.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 5.17 | -5.37 |
| Martin ratioReturn relative to average drawdown | -0.43 | 25.89 | -26.32 |
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Drawdowns
KIO vs. BWDTX - Drawdown Comparison
The maximum KIO drawdown since its inception was -43.87%, which is greater than BWDTX's maximum drawdown of -10.06%. Use the drawdown chart below to compare losses from any high point for KIO and BWDTX.
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Drawdown Indicators
| KIO | BWDTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.87% | -10.06% | -33.81% |
Max Drawdown (1Y)Largest decline over 1 year | -11.01% | -1.00% | -10.01% |
Max Drawdown (3Y)Largest decline over 3 years | -22.85% | -2.21% | -20.64% |
Max Drawdown (5Y)Largest decline over 5 years | -31.87% | -6.35% | -25.52% |
Max Drawdown (10Y)Largest decline over 10 years | -43.87% | -10.06% | -33.81% |
Current DrawdownCurrent decline from peak | -8.92% | -0.10% | -8.82% |
Average DrawdownAverage peak-to-trough decline | -8.08% | -0.67% | -7.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.16% | 0.20% | +4.96% |
Volatility
KIO vs. BWDTX - Volatility Comparison
KKR Income Opportunities Fund (KIO) has a higher volatility of 2.61% compared to Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX) at 0.31%. This indicates that KIO's price experiences larger fluctuations and is considered to be riskier than BWDTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KIO | BWDTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.61% | 0.31% | +2.30% |
Volatility (6M)Calculated over the trailing 6-month period | 7.91% | 1.07% | +6.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.29% | 1.31% | +8.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.19% | 2.21% | +10.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.34% | 2.19% | +14.15% |
KIO vs. BWDTX - Expense Ratio Comparison
KIO has a 0.04% expense ratio, which is lower than BWDTX's 0.40% expense ratio.
Dividends
KIO vs. BWDTX - Dividend Comparison
KIO's dividend yield for the trailing twelve months is around 13.25%, more than BWDTX's 5.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BWDTX Boyd Watterson Limited Duration Enhanced Income Fund | 5.64% | 5.70% | 4.13% | 5.51% | 3.80% | 3.20% | 3.18% | 3.47% | 4.18% | 2.90% | 1.35% | 0.00% |
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 BWDTX have a correlation of 0.39, 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 BWDTX (0.31%). In terms of maximum drawdown, KIO dropped -43.87% vs BWDTX's -10.06%.
BWDTX currently has the higher Sharpe Ratio (3.93 vs -0.21), 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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