KIO vs. TYG
KIO (KKR Income Opportunities Fund) and TYG (Tortoise Energy Infrastructure Closed Fund) are both mutual funds - KIO is a Multisector Bonds fund managed by KKR, while TYG is a Infrastructure Equities fund actively managed by Tortoise. Over the past 10 years, KIO returned 7.21%/yr vs -1.66%/yr for TYG. Their 0.29 correlation means their historical movements had little consistent relationship. KIO charges 0.04%/yr vs 2.90%/yr for TYG.
Performance
KIO vs. TYG - 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 TYG's 11.81% return. Over the past 10 years, KIO has outperformed TYG with an annualized return of 7.21%, while TYG has yielded a comparatively lower -1.66% 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%
TYG
- 1D
- -0.70%
- 1M
- 0.59%
- 6M
- 2.41%
- YTD
- 11.81%
- 1Y
- 10.80%
- 3Y*
- 25.10%
- 5Y*
- 21.23%
- 10Y*
- -1.66%
- ALL TIME*
- 4.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.83M | $2.45M | $2.07M | |
| $5.85M | $6.33M | $9.29M |
KIO vs. TYG - 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% |
TYG Tortoise Energy Infrastructure Closed Fund | 11.81% | 8.46% | 60.18% | -0.37% | 24.20% | 46.86% | -70.31% | 1.79% | -24.74% | 3.17% |
Correlation
The correlation between KIO and TYG is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.06 |
Correlation (3Y) Balances recent behavior with more history. | 0.21 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.31 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2013 | 0.29 |
Over the past year, the correlation between KIO and TYG has dropped to 0.06 - well below their long-term average of 0.29, suggesting their price drivers have been diverging.
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Return for Risk
KIO vs. TYG — Risk / Return Rank
KIO
TYG
KIO vs. TYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KKR Income Opportunities Fund (KIO) and Tortoise Energy Infrastructure Closed Fund (TYG). 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 | TYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.12 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 0.78 | -0.98 |
| Martin ratioReturn relative to average drawdown | -0.43 | 1.79 | -2.22 |
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Drawdowns
KIO vs. TYG - Drawdown Comparison
The maximum KIO drawdown since its inception was -43.87%, smaller than the maximum TYG drawdown of -95.34%. Use the drawdown chart below to compare losses from any high point for KIO and TYG.
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Drawdown Indicators
| KIO | TYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.87% | -95.34% | +51.47% |
Max Drawdown (1Y)Largest decline over 1 year | -11.01% | -13.94% | +2.93% |
Max Drawdown (3Y)Largest decline over 3 years | -22.85% | -25.08% | +2.23% |
Max Drawdown (5Y)Largest decline over 5 years | -31.87% | -25.08% | -6.79% |
Max Drawdown (10Y)Largest decline over 10 years | -43.87% | -94.98% | +51.11% |
Current DrawdownCurrent decline from peak | -8.92% | -36.22% | +27.30% |
Average DrawdownAverage peak-to-trough decline | -8.08% | -29.46% | +21.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.16% | 6.04% | -0.88% |
Volatility
KIO vs. TYG - Volatility Comparison
The current volatility for KKR Income Opportunities Fund (KIO) is 2.61%, while Tortoise Energy Infrastructure Closed Fund (TYG) has a volatility of 4.12%. This indicates that KIO experiences smaller price fluctuations and is considered to be less risky than TYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KIO | TYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.61% | 4.12% | -1.51% |
Volatility (6M)Calculated over the trailing 6-month period | 7.91% | 16.28% | -8.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.29% | 19.45% | -9.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.19% | 23.57% | -10.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.34% | 51.10% | -34.76% |
KIO vs. TYG - Expense Ratio Comparison
KIO has a 0.04% expense ratio, which is lower than TYG's 2.90% expense ratio.
Dividends
KIO vs. TYG - Dividend Comparison
KIO's dividend yield for the trailing twelve months is around 13.25%, more than TYG's 12.61% 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% |
TYG Tortoise Energy Infrastructure Closed Fund | 12.61% | 11.25% | 7.96% | 9.87% | 8.94% | 5.27% | 10.85% | 14.61% | 13.17% | 9.01% | 8.54% | 13.95% |
Frequently Asked Questions
KIO and TYG have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TYG has higher volatility (4.12%) compared to KIO (2.61%). In terms of maximum drawdown, KIO dropped -43.87% vs TYG's -95.34%.
TYG currently has the higher Sharpe Ratio (0.56 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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