KIO vs. USA
KIO (KKR Income Opportunities Fund) is Multisector Bonds fund managed by KKR Asset Management, while USA (Liberty All-Star Equity Fund) is a stock. Over the past 10 years, KIO returned 7.92%/yr vs 12.11%/yr for USA. At a 0.43 correlation, their price movements are largely independent.
Performance
KIO vs. USA - Performance Comparison
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Returns By Period
In the year-to-date period, KIO achieves a 2.77% return, which is significantly higher than USA's -2.12% return. Over the past 10 years, KIO has underperformed USA with an annualized return of 7.92%, while USA has yielded a comparatively higher 12.11% annualized return.
KIO
- 1D
- -0.35%
- 1M
- 1.08%
- YTD
- 2.77%
- 6M
- 3.32%
- 1Y
- 4.71%
- 3Y*
- 12.54%
- 5Y*
- 3.74%
- 10Y*
- 7.92%
USA
- 1D
- -0.51%
- 1M
- 1.22%
- YTD
- -2.12%
- 6M
- 0.11%
- 1Y
- -2.70%
- 3Y*
- 9.02%
- 5Y*
- 1.77%
- 10Y*
- 12.11%
KIO vs. USA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KIO KKR Income Opportunities Fund | 2.77% | -2.49% | 18.45% | 31.53% | -28.25% | 26.82% | 2.04% | 21.92% | -2.53% | 9.68% |
USA Liberty All-Star Equity Fund | -2.12% | 0.09% | 20.81% | 23.17% | -25.20% | 33.76% | 12.89% | 39.70% | -5.06% | 34.66% |
Correlation
The correlation between KIO and USA is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 2013 | 0.43 |
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Return for Risk
KIO vs. USA — Risk / Return Rank
KIO
USA
KIO vs. USA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KKR Income Opportunities Fund (KIO) and Liberty All-Star Equity Fund (USA). 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.
| KIO | USA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.68 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.98 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.43 | -0.18 | +0.61 |
| Martin ratioReturn relative to average drawdown | 0.94 | -0.43 | +1.37 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KIO | USA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.47 | -0.20 | +0.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.29 | 0.09 | +0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.54 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.34 | +0.05 |
Drawdowns
KIO vs. USA - Drawdown Comparison
The maximum KIO drawdown since its inception was -43.87%, smaller than the maximum USA drawdown of -69.15%. Use the drawdown chart below to compare losses from any high point for KIO and USA.
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Drawdown Indicators
| KIO | USA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.87% | -69.15% | +25.28% |
Max Drawdown (1Y)Largest decline over 1 year | -11.01% | -15.28% | +4.27% |
Max Drawdown (3Y)Largest decline over 3 years | -22.85% | -17.69% | -5.16% |
Max Drawdown (5Y)Largest decline over 5 years | -31.87% | -34.05% | +2.18% |
Max Drawdown (10Y)Largest decline over 10 years | -43.87% | -47.07% | +3.20% |
Current DrawdownCurrent decline from peak | -8.51% | -7.37% | -1.14% |
Average DrawdownAverage peak-to-trough decline | -8.08% | -11.52% | +3.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.00% | 6.31% | -1.31% |
Volatility
KIO vs. USA - Volatility Comparison
KKR Income Opportunities Fund (KIO) and Liberty All-Star Equity Fund (USA) have volatilities of 2.55% and 2.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KIO | USA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.55% | 2.50% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 7.70% | 10.16% | -2.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.96% | 13.45% | -3.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.18% | 20.24% | -7.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.39% | 22.55% | -6.16% |
Dividends
KIO vs. USA - Dividend Comparison
KIO's dividend yield for the trailing twelve months is around 12.91%, more than USA's 11.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KIO KKR Income Opportunities Fund | 12.91% | 12.58% | 10.90% | 11.32% | 11.44% | 7.45% | 10.12% | 9.51% | 10.53% | 9.66% | 9.92% | 10.81% |
USA Liberty All-Star Equity Fund | 11.68% | 10.67% | 10.22% | 9.56% | 12.11% | 9.67% | 9.13% | 9.75% | 12.64% | 8.89% | 9.30% | 9.53% |
Frequently Asked Questions
KIO and USA have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KIO has higher volatility (2.55%) compared to USA (2.50%). In terms of maximum drawdown, KIO dropped -43.87% vs USA's -69.15%.
KIO currently has the higher Sharpe Ratio (0.47 vs -0.20), 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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