KIO vs. TSI
KIO (KKR Income Opportunities Fund) and TSI (TCW Strategic Income Fund Inc.) are both Multisector Bonds funds. Over the past 10 years, KIO returned 7.21%/yr vs 4.79%/yr for TSI. Their 0.17 correlation means their historical movements had little consistent relationship.
Performance
KIO vs. TSI - 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 TSI's -7.62% return. Over the past 10 years, KIO has outperformed TSI with an annualized return of 7.21%, while TSI has yielded a comparatively lower 4.79% 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%
TSI
- 1D
- -0.68%
- 1M
- -1.60%
- 6M
- -6.32%
- YTD
- -7.62%
- 1Y
- -3.50%
- 3Y*
- 5.99%
- 5Y*
- 1.75%
- 10Y*
- 4.79%
- ALL TIME*
- 9.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.83M | $2.45M | $2.07M | |
| $605.00K | $596.77K | $548.55K |
KIO vs. TSI - 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% |
TSI TCW Strategic Income Fund Inc. | -7.62% | 9.72% | 13.45% | 7.13% | -14.33% | 8.08% | 3.77% | 17.97% | -3.83% | 16.42% |
Correlation
The correlation between KIO and TSI is 0.20, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.20 |
Correlation (3Y) Balances recent behavior with more history. | 0.21 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.22 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2013 | 0.17 |
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Return for Risk
KIO vs. TSI — Risk / Return Rank
KIO
TSI
KIO vs. TSI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KKR Income Opportunities Fund (KIO) and TCW Strategic Income Fund Inc. (TSI). 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 | TSI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.93 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | -0.42 | +0.22 |
| Martin ratioReturn relative to average drawdown | -0.43 | -0.82 | +0.39 |
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Drawdowns
KIO vs. TSI - Drawdown Comparison
The maximum KIO drawdown since its inception was -43.87%, smaller than the maximum TSI drawdown of -60.35%. Use the drawdown chart below to compare losses from any high point for KIO and TSI.
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Drawdown Indicators
| KIO | TSI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.87% | -60.35% | +16.48% |
Max Drawdown (1Y)Largest decline over 1 year | -11.01% | -8.30% | -2.71% |
Max Drawdown (3Y)Largest decline over 3 years | -22.85% | -8.30% | -14.55% |
Max Drawdown (5Y)Largest decline over 5 years | -31.87% | -18.56% | -13.31% |
Max Drawdown (10Y)Largest decline over 10 years | -43.87% | -30.00% | -13.87% |
Current DrawdownCurrent decline from peak | -8.92% | -7.65% | -1.27% |
Average DrawdownAverage peak-to-trough decline | -8.08% | -7.69% | -0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.16% | 4.28% | +0.88% |
Volatility
KIO vs. TSI - Volatility Comparison
KKR Income Opportunities Fund (KIO) has a higher volatility of 2.61% compared to TCW Strategic Income Fund Inc. (TSI) at 2.30%. This indicates that KIO's price experiences larger fluctuations and is considered to be riskier than TSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KIO | TSI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.61% | 2.30% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 7.91% | 7.19% | +0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.29% | 8.44% | +1.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.19% | 10.84% | +2.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.34% | 14.04% | +2.30% |
Dividends
KIO vs. TSI - Dividend Comparison
KIO's dividend yield for the trailing twelve months is around 13.25%, more than TSI's 8.50% 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% |
TSI TCW Strategic Income Fund Inc. | 8.50% | 6.58% | 8.00% | 7.73% | 7.00% | 6.36% | 4.83% | 7.39% | 7.07% | 5.36% | 5.21% | 4.08% |
Frequently Asked Questions
KIO and TSI have a correlation of 0.20, 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 TSI (2.30%). In terms of maximum drawdown, KIO dropped -43.87% vs TSI's -60.35%.
KIO currently has the higher Sharpe Ratio (-0.21 vs -0.42), 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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