KIO vs. PGZ
KIO (KKR Income Opportunities Fund) is Multisector Bonds fund managed by KKR, while PGZ (Principal Real Estate Income Fund) is a stock. Over the past 10 years, KIO returned 7.21%/yr vs 4.44%/yr for PGZ. Their 0.31 correlation means their historical movements had little consistent relationship.
Performance
KIO vs. PGZ - Performance Comparison
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Returns By Period
In the year-to-date period, KIO achieves a 2.31% return, which is significantly lower than PGZ's 8.88% return. Over the past 10 years, KIO has outperformed PGZ with an annualized return of 7.21%, while PGZ has yielded a comparatively lower 4.44% 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%
PGZ
- 1D
- -0.78%
- 1M
- -0.70%
- 6M
- 7.22%
- YTD
- 8.88%
- 1Y
- 10.89%
- 3Y*
- 15.72%
- 5Y*
- 3.35%
- 10Y*
- 4.44%
- ALL TIME*
- 4.61%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.83M | $2.45M | $2.07M | |
| $194.82K | $199.91K | $213.83K |
KIO vs. PGZ - 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% |
PGZ Principal Real Estate Income Fund | 8.88% | 14.50% | 17.99% | 4.05% | -27.98% | 38.70% | -36.50% | 36.77% | 3.92% | 18.23% |
Correlation
The correlation between KIO and PGZ is 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.28 |
Correlation (3Y) Balances recent behavior with more history. | 0.31 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.34 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2013 | 0.31 |
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Return for Risk
KIO vs. PGZ — Risk / Return Rank
KIO
PGZ
KIO vs. PGZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KKR Income Opportunities Fund (KIO) and Principal Real Estate Income Fund (PGZ). 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 | PGZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -1.70 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.20 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 1.11 | -1.31 |
| Martin ratioReturn relative to average drawdown | -0.43 | 4.11 | -4.54 |
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Drawdowns
KIO vs. PGZ - Drawdown Comparison
The maximum KIO drawdown since its inception was -43.87%, smaller than the maximum PGZ drawdown of -53.58%. Use the drawdown chart below to compare losses from any high point for KIO and PGZ.
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Drawdown Indicators
| KIO | PGZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.87% | -53.58% | +9.71% |
Max Drawdown (1Y)Largest decline over 1 year | -11.01% | -9.82% | -1.19% |
Max Drawdown (3Y)Largest decline over 3 years | -22.85% | -10.56% | -12.29% |
Max Drawdown (5Y)Largest decline over 5 years | -31.87% | -35.34% | +3.47% |
Max Drawdown (10Y)Largest decline over 10 years | -43.87% | -53.58% | +9.71% |
Current DrawdownCurrent decline from peak | -8.92% | -7.25% | -1.67% |
Average DrawdownAverage peak-to-trough decline | -8.08% | -16.03% | +7.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.16% | 2.66% | +2.50% |
Volatility
KIO vs. PGZ - Volatility Comparison
The current volatility for KKR Income Opportunities Fund (KIO) is 2.61%, while Principal Real Estate Income Fund (PGZ) has a volatility of 3.43%. This indicates that KIO experiences smaller price fluctuations and is considered to be less risky than PGZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KIO | PGZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.61% | 3.43% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 7.91% | 9.48% | -1.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.29% | 10.96% | -0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.19% | 14.71% | -1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.34% | 21.80% | -5.46% |
Dividends
KIO vs. PGZ - Dividend Comparison
KIO's dividend yield for the trailing twelve months is around 13.25%, more than PGZ's 12.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PGZ Principal Real Estate Income Fund | 12.43% | 12.59% | 12.75% | 13.33% | 11.86% | 6.32% | 10.34% | 6.25% | 7.98% | 9.51% | 10.90% | 10.40% |
Frequently Asked Questions
KIO and PGZ have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGZ has higher volatility (3.43%) compared to KIO (2.61%). In terms of maximum drawdown, KIO dropped -43.87% vs PGZ's -53.58%.
PGZ currently has the higher Sharpe Ratio (1.00 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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