PGZ vs. KIO
PGZ (Principal Real Estate Income Fund) is a stock, while KIO (KKR Income Opportunities Fund) is Multisector Bonds fund managed by KKR. Over the past 10 years, PGZ returned 4.48%/yr vs 7.25%/yr for KIO. Their 0.31 correlation means their historical movements had little consistent relationship.
Performance
PGZ vs. KIO - Performance Comparison
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Returns By Period
In the year-to-date period, PGZ achieves a 9.73% return, which is significantly higher than KIO's 2.40% return. Over the past 10 years, PGZ has underperformed KIO with an annualized return of 4.48%, while KIO has yielded a comparatively higher 7.25% annualized return.
PGZ
- 1D
- 0.59%
- 1M
- 0.08%
- 6M
- 7.86%
- YTD
- 9.73%
- 1Y
- 11.77%
- 3Y*
- 15.02%
- 5Y*
- 3.28%
- 10Y*
- 4.48%
- ALL TIME*
- 4.67%
KIO
- 1D
- -0.54%
- 1M
- -2.04%
- 6M
- 1.34%
- YTD
- 2.40%
- 1Y
- -2.11%
- 3Y*
- 9.15%
- 5Y*
- 3.63%
- 10Y*
- 7.25%
- ALL TIME*
- 5.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.79M | $2.44M | $2.08M | |
| $196.91K | $199.33K | $211.80K |
PGZ vs. KIO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGZ Principal Real Estate Income Fund | 9.73% | 14.50% | 17.99% | 4.05% | -27.98% | 38.70% | -36.50% | 36.77% | 3.92% | 18.23% |
KIO KKR Income Opportunities Fund | 2.40% | -2.49% | 18.45% | 31.53% | -28.25% | 26.82% | 2.04% | 21.92% | -2.53% | 9.68% |
Correlation
The correlation between PGZ and KIO 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
PGZ vs. KIO — Risk / Return Rank
PGZ
KIO
PGZ vs. KIO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Real Estate Income Fund (PGZ) and KKR Income Opportunities Fund (KIO). 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.
| PGZ | KIO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.26 | ||
| Sortino ratioReturn per unit of downside risk | +1.77 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 0.97 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | -0.21 | +1.37 |
| Martin ratioReturn relative to average drawdown | 4.28 | -0.44 | +4.72 |
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Drawdowns
PGZ vs. KIO - Drawdown Comparison
The maximum PGZ drawdown since its inception was -53.58%, which is greater than KIO's maximum drawdown of -43.87%. Use the drawdown chart below to compare losses from any high point for PGZ and KIO.
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Drawdown Indicators
| PGZ | KIO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.58% | -43.87% | -9.71% |
Max Drawdown (1Y)Largest decline over 1 year | -9.82% | -11.01% | +1.19% |
Max Drawdown (3Y)Largest decline over 3 years | -10.56% | -22.85% | +12.29% |
Max Drawdown (5Y)Largest decline over 5 years | -35.34% | -31.87% | -3.47% |
Max Drawdown (10Y)Largest decline over 10 years | -53.58% | -43.87% | -9.71% |
Current DrawdownCurrent decline from peak | -6.52% | -8.84% | +2.32% |
Average DrawdownAverage peak-to-trough decline | -16.03% | -8.08% | -7.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.65% | 5.15% | -2.50% |
Volatility
PGZ vs. KIO - Volatility Comparison
Principal Real Estate Income Fund (PGZ) has a higher volatility of 3.35% compared to KKR Income Opportunities Fund (KIO) at 2.61%. This indicates that PGZ's price experiences larger fluctuations and is considered to be riskier than KIO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PGZ | KIO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.35% | 2.61% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 9.44% | 7.92% | +1.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.94% | 10.28% | +0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.70% | 13.20% | +1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.80% | 16.33% | +5.47% |
Dividends
PGZ vs. KIO - Dividend Comparison
PGZ's dividend yield for the trailing twelve months is around 12.33%, less than KIO's 13.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KIO KKR Income Opportunities Fund | 13.24% | 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 | 12.33% | 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
PGZ and KIO 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 (3.35%) compared to KIO (2.61%). In terms of maximum drawdown, PGZ dropped -53.58% vs KIO's -43.87%.
PGZ currently has the higher Sharpe Ratio (1.04 vs -0.22), 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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