RA vs. KIO

Last updated Jun 23, 2026

RA (Brookfield Real Assets Income Fund Inc.) and KIO (KKR Income Opportunities Fund) are both Multisector Bonds funds. Over the past 5 years, RA returned 0.68%/yr vs 3.67%/yr for KIO. At a 0.40 correlation, their price movements are largely independent. RA charges 2.76%/yr vs 0.04%/yr for KIO.

Performance

RA vs. KIO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brookfield Real Assets Income Fund Inc. (RA) and KKR Income Opportunities Fund (KIO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RA achieves a 3.60% return, which is significantly higher than KIO's 2.88% return.

RA

• 1D: 0.47%
• 1M: 0.07%
• YTD: 3.60%
• 6M: 4.17%
• 1Y: 9.44%
• 3Y*: 2.86%
• 5Y*: 0.68%
• 10Y*: —

KIO

• 1D: -0.27%
• 1M: 0.46%
• YTD: 2.88%
• 6M: 2.97%
• 1Y: 2.86%
• 3Y*: 10.75%
• 5Y*: 3.67%
• 10Y*: 7.75%

*Multi-year figures are annualized to reflect compound growth (CAGR)

RA vs. KIO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RA Brookfield Real Assets Income Fund Inc.	3.60%	8.32%	15.87%	-9.02%	-13.47%	32.35%	-4.17%	24.89%	-9.15%	15.99%
KIO KKR Income Opportunities Fund	2.88%	-2.49%	18.45%	31.53%	-28.25%	26.82%	2.04%	21.92%	-2.53%	9.68%

Correlation

The correlation between RA and KIO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (All Time) Calculated using the full available price history since Dec 5, 2016	0.40

Return for Risk

RA vs. KIO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RA

RA Risk / Return Rank: 17
RA Sharpe Ratio Rank: 17
RA Sortino Ratio Rank: 18
RA Omega Ratio Rank: 19
RA Calmar Ratio Rank: 17
RA Martin Ratio Rank: 15

KIO

KIO Risk / Return Rank: 4
KIO Sharpe Ratio Rank: 5
KIO Sortino Ratio Rank: 4
KIO Omega Ratio Rank: 5
KIO Calmar Ratio Rank: 4
KIO Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

RA vs. KIO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brookfield Real Assets Income Fund Inc. (RA) 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.

	RA	KIO	Difference
Sharpe ratio: Return per unit of total volatility	1.11	0.29	+0.83
Sortino ratio: Return per unit of downside risk	1.66	0.47	+1.19
Omega ratio: Gain probability vs. loss probability	1.21	1.06	+0.16
Calmar ratio: Return relative to maximum drawdown	1.41	0.26	+1.15
Martin ratio: Return relative to average drawdown	3.84	0.57	+3.27

RA vs. KIO - Sharpe Ratio Comparison

The current RA Sharpe Ratio is 1.11, which is higher than the KIO Sharpe Ratio of 0.29. The chart below compares the historical Sharpe Ratios of RA and KIO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RA vs. KIO - Drawdown Comparison

The maximum RA drawdown since its inception was -50.66%, which is greater than KIO's maximum drawdown of -43.87%. Use the drawdown chart below to compare losses from any high point for RA and KIO.

Drawdown Indicators

	RA	KIO	Difference
Max Drawdown Largest peak-to-trough decline	-50.66%	-43.87%	-6.79%
Max Drawdown (1Y) Largest decline over 1 year	-6.73%	-11.01%	+4.28%
Max Drawdown (3Y) Largest decline over 3 years	-28.42%	-22.85%	-5.57%
Max Drawdown (5Y) Largest decline over 5 years	-30.83%	-31.87%	+1.04%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.87%	—
Current Drawdown Current decline from peak	-2.98%	-8.41%	+5.43%
Average Drawdown Average peak-to-trough decline	-8.06%	-8.08%	+0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.46%	5.06%	-2.60%

Volatility

RA vs. KIO - Volatility Comparison

The current volatility for Brookfield Real Assets Income Fund Inc. (RA) is 1.85%, while KKR Income Opportunities Fund (KIO) has a volatility of 2.27%. This indicates that RA experiences smaller price fluctuations and is considered to be less risky than KIO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RA	KIO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.85%	2.27%	-0.42%
Volatility (6M) Calculated over the trailing 6-month period	6.65%	7.74%	-1.09%
Volatility (1Y) Calculated over the trailing 1-year period	8.53%	10.04%	-1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.58%	13.18%	+4.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.60%	16.37%	+4.23%

RA vs. KIO - Expense Ratio Comparison

RA has a 2.76% expense ratio, which is higher than KIO's 0.04% expense ratio.

Dividends

RA vs. KIO - Dividend Comparison

RA's dividend yield for the trailing twelve months is around 11.14%, less than KIO's 13.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KIO KKR Income Opportunities Fund	13.04%	12.58%	10.90%	11.32%	11.44%	7.45%	10.12%	9.51%	10.53%	9.66%	9.92%	10.81%
RA Brookfield Real Assets Income Fund Inc.	11.14%	10.93%	10.63%	16.74%	14.79%	11.31%	13.39%	11.19%	12.52%	10.22%	0.89%	0.00%

Frequently Asked Questions

Can I hold both RA and KIO in my portfolio?

RA and KIO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RA or KIO?

KIO has higher volatility (2.27%) compared to RA (1.85%). In terms of maximum drawdown, RA dropped -50.66% vs KIO's -43.87%.

Which has better risk-adjusted returns?

RA currently has the higher Sharpe Ratio (1.11 vs 0.29), 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.