KIO vs. JMM
KIO (KKR Income Opportunities Fund) and JMM (Nuveen Multi-Market Income Fund) are both Multisector Bonds funds. Over the past 10 years, KIO returned 7.75%/yr vs 3.01%/yr for JMM. At a 0.22 correlation, their price movements are largely independent. KIO charges 0.04%/yr vs 0.04%/yr for JMM.
Performance
KIO vs. JMM - Performance Comparison
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Returns By Period
In the year-to-date period, KIO achieves a 2.88% return, which is significantly higher than JMM's -0.78% return. Over the past 10 years, KIO has outperformed JMM with an annualized return of 7.75%, while JMM has yielded a comparatively lower 3.01% annualized return.
KIO
- 1D
- -0.27%
- 1M
- 0.46%
- YTD
- 2.88%
- 6M
- 2.97%
- 1Y
- 2.86%
- 3Y*
- 10.75%
- 5Y*
- 3.67%
- 10Y*
- 7.75%
JMM
- 1D
- 0.17%
- 1M
- 1.34%
- YTD
- -0.78%
- 6M
- -0.28%
- 1Y
- -0.51%
- 3Y*
- 6.11%
- 5Y*
- 0.89%
- 10Y*
- 3.01%
KIO vs. JMM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KIO KKR Income Opportunities Fund | 2.88% | -2.49% | 18.45% | 31.53% | -28.25% | 26.82% | 2.04% | 21.92% | -2.53% | 9.68% |
JMM Nuveen Multi-Market Income Fund | -0.78% | 5.61% | 8.15% | 6.57% | -17.95% | 10.53% | 1.77% | 13.56% | -5.37% | 10.58% |
Correlation
The correlation between KIO and JMM is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2013 | 0.22 |
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Return for Risk
KIO vs. JMM — Risk / Return Rank
KIO
JMM
KIO vs. JMM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KKR Income Opportunities Fund (KIO) and Nuveen Multi-Market Income Fund (JMM). 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 | JMM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.00 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.26 | -0.06 | +0.32 |
| Martin ratioReturn relative to average drawdown | 0.57 | -0.12 | +0.69 |
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Drawdowns
KIO vs. JMM - Drawdown Comparison
The maximum KIO drawdown since its inception was -43.87%, smaller than the maximum JMM drawdown of -48.15%. Use the drawdown chart below to compare losses from any high point for KIO and JMM.
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Drawdown Indicators
| KIO | JMM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.87% | -48.15% | +4.28% |
Max Drawdown (1Y)Largest decline over 1 year | -11.01% | -8.28% | -2.73% |
Max Drawdown (3Y)Largest decline over 3 years | -22.85% | -9.92% | -12.93% |
Max Drawdown (5Y)Largest decline over 5 years | -31.87% | -24.19% | -7.68% |
Max Drawdown (10Y)Largest decline over 10 years | -43.87% | -26.48% | -17.39% |
Current DrawdownCurrent decline from peak | -8.41% | -5.77% | -2.64% |
Average DrawdownAverage peak-to-trough decline | -8.08% | -14.09% | +6.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.06% | 4.12% | +0.94% |
Volatility
KIO vs. JMM - Volatility Comparison
The current volatility for KKR Income Opportunities Fund (KIO) is 2.27%, while Nuveen Multi-Market Income Fund (JMM) has a volatility of 3.06%. This indicates that KIO experiences smaller price fluctuations and is considered to be less risky than JMM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KIO | JMM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.27% | 3.06% | -0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 7.74% | 8.20% | -0.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.04% | 11.88% | -1.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.18% | 13.41% | -0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.37% | 13.92% | +2.45% |
KIO vs. JMM - Expense Ratio Comparison
KIO has a 0.04% expense ratio, which is higher than JMM's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
KIO vs. JMM - Dividend Comparison
KIO's dividend yield for the trailing twelve months is around 13.04%, more than JMM's 5.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JMM Nuveen Multi-Market Income Fund | 5.98% | 5.76% | 5.48% | 5.58% | 6.13% | 4.60% | 4.49% | 4.86% | 5.34% | 5.63% | 6.19% | 6.76% |
KIO KKR Income Opportunities Fund | 13.04% | 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 JMM have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JMM has higher volatility (3.06%) compared to KIO (2.27%). In terms of maximum drawdown, KIO dropped -43.87% vs JMM's -48.15%.
KIO currently has the higher Sharpe Ratio (0.29 vs -0.04), 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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