RFXIX vs. KIO
RFXIX (Rational Special Situations Income Fund) and KIO (KKR Income Opportunities Fund) are both Multisector Bonds funds. Over the past 5 years, RFXIX returned 4.10%/yr vs 3.32%/yr for KIO. Their 0.14 correlation means their historical movements had little consistent relationship. RFXIX charges 1.76%/yr vs 0.04%/yr for KIO.
Performance
RFXIX vs. KIO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with RFXIX having a 2.23% return and KIO slightly higher at 2.31%.
RFXIX
- 1D
- -0.11%
- 1M
- 0.08%
- 6M
- 1.69%
- YTD
- 2.23%
- 1Y
- 4.75%
- 3Y*
- 5.69%
- 5Y*
- 4.10%
- 10Y*
- —
- ALL TIME*
- 4.12%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.83M | $2.45M | $2.07M | |
| $0.00 | $0.00 | $0.00 |
RFXIX vs. KIO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RFXIX Rational Special Situations Income Fund | 2.23% | 4.73% | 8.95% | 4.08% | -0.85% | 5.30% | 2.84% | 1.91% |
KIO KKR Income Opportunities Fund | 2.31% | -2.49% | 18.45% | 31.53% | -28.25% | 26.82% | 2.04% | 4.58% |
Correlation
The correlation between RFXIX and KIO is 0.19, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.19 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019 | 0.14 |
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Return for Risk
RFXIX vs. KIO — Risk / Return Rank
RFXIX
KIO
RFXIX vs. KIO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rational Special Situations Income Fund (RFXIX) 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.
| RFXIX | KIO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.82 | ||
| Sortino ratioReturn per unit of downside risk | +5.67 | ||
| Omega ratioGain probability vs. loss probability | 2.05 | 0.97 | +1.08 |
| Calmar ratioReturn relative to maximum drawdown | 6.94 | -0.20 | +7.14 |
| Martin ratioReturn relative to average drawdown | 28.72 | -0.43 | +29.14 |
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Drawdowns
RFXIX vs. KIO - Drawdown Comparison
The maximum RFXIX drawdown since its inception was -12.91%, smaller than the maximum KIO drawdown of -43.87%. Use the drawdown chart below to compare losses from any high point for RFXIX and KIO.
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Drawdown Indicators
| RFXIX | KIO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.91% | -43.87% | +30.96% |
Max Drawdown (1Y)Largest decline over 1 year | -0.72% | -11.01% | +10.29% |
Max Drawdown (3Y)Largest decline over 3 years | -1.05% | -22.85% | +21.80% |
Max Drawdown (5Y)Largest decline over 5 years | -4.93% | -31.87% | +26.94% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.87% | — |
Current DrawdownCurrent decline from peak | -0.11% | -8.92% | +8.81% |
Average DrawdownAverage peak-to-trough decline | -0.85% | -8.08% | +7.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.17% | 5.16% | -4.99% |
Volatility
RFXIX vs. KIO - Volatility Comparison
The current volatility for Rational Special Situations Income Fund (RFXIX) is 0.32%, while KKR Income Opportunities Fund (KIO) has a volatility of 2.61%. This indicates that RFXIX 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.
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Volatility by Period
| RFXIX | KIO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.32% | 2.61% | -2.29% |
Volatility (6M)Calculated over the trailing 6-month period | 0.79% | 7.91% | -7.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.39% | 10.29% | -8.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.96% | 13.19% | -11.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.92% | 16.34% | -13.42% |
RFXIX vs. KIO - Expense Ratio Comparison
RFXIX has a 1.76% expense ratio, which is higher than KIO's 0.04% expense ratio.
Dividends
RFXIX vs. KIO - Dividend Comparison
RFXIX's dividend yield for the trailing twelve months is around 5.24%, less than KIO's 13.25% 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% |
RFXIX Rational Special Situations Income Fund | 5.24% | 5.02% | 6.69% | 7.85% | 6.08% | 5.04% | 4.99% | 1.39% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RFXIX and KIO have a correlation of 0.19, 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 RFXIX (0.32%). In terms of maximum drawdown, RFXIX dropped -12.91% vs KIO's -43.87%.
RFXIX currently has the higher Sharpe Ratio (3.61 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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