Fund Evaluator:
Goehring & Rozencwajg Resources Instl (GRHIX)
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Best Performing in Natural Resources Over the Last Year
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Fund Details
Goehring & Rozencwajg Resources Instl Overview
Goehring & Rozencwajg Resources Instl (GRHIX) is an actively managed Sector Equity Natural Resources fund. Goehring & Rozencwajg launched the fund in 2016.
The investment seeks to maximize total return, which consists of income on its investments and capital appreciation. Under normal circumstances, the fund invests at least 80% of its net assets in securities of natural resources companies and other investments that provide economic exposure to natural resources or natural resources companies. The fund typically invests primarily in equity and equity-related securities consisting of common stock, preferred stock, convertible securities, rights and warrants and depository receipts.
About Goehring & Rozencwajg Resources Instl (GRHIX)
There are 2 members of the management team with an average tenure of 9.67 years: Adam Rozencwajg (2016), Leigh Goehring (2016). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and Lipper Natural Resources index with a weighting of 100%. Goehring & Rozencwajg Resources Instl has 86 securities in its portfolio. The top 10 holdings constitute 47.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Goehring & Rozencwajg Resources Instl is part of the Equity global asset class and is within the Sector Equity fund group. Goehring & Rozencwajg Resources Instl has 53.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 44.9%. There is 53.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Goehring & Rozencwajg Resources Instl has 2.1% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $246 million average for the Natural Resources category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
GRHIX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Goehring & Rozencwajg Resources Instl expense ratio is high compared to funds in the Natural Resources category. Goehring & Rozencwajg Resources Instl has an expense ratio of 0.95%, which is 17% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Goehring & Rozencwajg Resources Instl has a portfolio turnover rate of 26%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 61% for the Natural Resources category.
Recently, in the month of August 2026, Goehring & Rozencwajg Resources Instl returned 15.4%, which earned it a grade of A, as the Natural Resources category had an average return of 7.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Goehring & Rozencwajg Resources Instl has a trailing yield of 2.74%, which is above the 2.01% category average. The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Goehring & Rozencwajg Resources Instl Grades
Year to date, the fund has returned 22.7%, 0.2 percentage points better than the category, which translates into a grade of D. The fund has returned 53.7% over the past year (grade of A), 25.4% over the past three years (grade of A) and 25.1% per year over the past five years (grade of A).
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GRHIX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GRHIX Return (NAV) | 15.4% | 4.8% | 53.7% | 25.4% | 25.1% | na |
| GRHIX Grade | A | C | A | A | A | na |
| +/- Category | 7.7% | 1.3% | 18.1% | 9.8% | 11.8% | na |
| Natural Resources Avg | 7.7% | 3.6% | 35.5% | 15.6% | 13.3% | 10.3% |
| GRHIX Tax Cost Ratio | na | na | 1.3% | 1.4% | 1.2% | na |
GRHIX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GRHIX Return (NAV) | 22.7% | 61.6% | -1.4% | 16.5% | 16.6% | 62.2% | -2.8% | 0.0% | -30.0% | -0.2% | na |
| GRHIX Grade | D | A | C | A | C | A | F | F | F | F | na |
| +/- Category | 0.2% | 33.0% | -0.9% | 13.1% | 8.6% | 31.3% | -12.3% | -14.8% | -9.5% | -13.2% | na |
| Natural Resources Avg | 22.5% | 28.6% | -0.5% | 3.4% | 8.0% | 30.8% | 9.6% | 14.8% | -20.5% | 13.1% | 28.6% |
| Risk Measures | |
| Standard Deviation: | 23.1% |
| Total Risk Index: | 1.90 - High |
| Category Risk Index: | 1.28 - High |
| Category Risk Grade: | F (104% Rank) |
| Beta: | 0.54 |
| R-Squared: | 8% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 2.7% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $1174 Mil |
| Fund Total Assets: | $1,089 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 26% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 9.7 years | |||
| Average Tenure: 9.7 years | |||
| Managers (Year): Rozencwajg Adam (2016), Goehring Leigh (2016) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 86 |
| % in Top 10 Holdings: | 47.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 53.0% |
Portfolio Allocation |
|
| Domestic Stock: | 44.9% |
| Foreign Stock: | 53.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.1% |
Purchase Information
| Fund Family: | Goehring & Rozencwajg |
| Phone Number: | 844-464-6467 |
| Website: |
| Status: | Open |
| Inception Date: | December 30, 2016 |
| Min. Initial Purchase: | $100,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 2.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.95% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.15% |
| Share Class: | Goehring & Rozencwajg Resources Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
