Fund Evaluator:
Hood River Emerging Markets Instl (HREOX)
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Best Performing in Diversified Emerging Mkts Over the Last Year
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| 64.1% | WCM Focused Emerging Mkts Ex Chn Inv (WCFEX) |
| 52.6% | Matthews Emerging Markets Sust Fut Inv (MASGX) |
| 48.9% | LSV Emerging Markets Equity Inv (LVAZX) |
| 47.7% | Lazard Emerging Markets Equity Instl (LZEMX) |
Fund Details
Hood River Emerging Markets Instl Overview
Hood River Emerging Markets Instl (HREOX) is an actively managed International Equity Diversified Emerging Mkts fund. Hood River Capital Management launched the fund in 2025.
The investment seeks long-term capital appreciation. The fund, under normal market conditions, invests at least 80% of its net assets plus any borrowings for investment purposes in companies located in emerging market countries, without regard to market capitalization. The Adviser defines emerging market countries to be any country that has an emerging market economy, considering factors such as vulnerability to political and economic instability, average per-capita income and the development of the country’s financial and capital markets. The Adviser considers frontier markets to be a subset of emerging markets.
About Hood River Emerging Markets Instl (HREOX)
There are 2 members of the management team with an average tenure of 0.77 years: Lance Cannon (2025), Ruoshi Qi (2025). Management tenure is more important for actively managed funds than passive index funds.
Hood River Emerging Markets Instl has 79 securities in its portfolio. The top 10 holdings constitute 44.1% 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.
Hood River Emerging Markets Instl is part of the Equity global asset class and is within the International Equity fund group. Hood River Emerging Markets Instl has 92.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 6.6%. There is 92.6% 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). Hood River Emerging Markets Instl has 0.8% of the portfolio in cash.
Assets Under Management
The fund has $46 million in total assets, which is below the $992 million average for the Diversified Emerging Mkts 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.
HREOX 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 Hood River Emerging Markets Instl expense ratio is high compared to funds in the Diversified Emerging Mkts category. Hood River Emerging Markets Instl has an expense ratio of 1.25%, which is 8% higher than its category average, making the fund expense ratio grade a D. 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. A portfolio turnover rate cannot be currently calculated for Hood River Emerging Markets Instl. By way of comparison, the average portfolio turnover is 68% for the Diversified Emerging Mkts category.
Recently, in the month of August 2026, Hood River Emerging Markets Instl returned 6.4%, which earned it a grade of A, as the Diversified Emerging Mkts category had an average return of 3.9%. 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.
Hood River Emerging Markets Instl has a trailing yield of 0.00%, which is below the 1.65% category average. The fund normally distributes its income annually and its capital gains 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.
Hood River Emerging Markets Instl Grades
Year to date, the fund has returned 39.6%, 15.8 percentage points better than the category, which translates into a grade of A.
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HREOX 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 |
|
| HREOX Return (NAV) | 6.4% | -12.2% | na | na | na | na |
| HREOX Grade | A | F | na | na | na | na |
| +/- Category | 2.5% | -11.1% | na | na | na | na |
| Diversified Emerging Mkts Avg | 3.9% | -1.2% | 37.5% | 21.7% | 6.8% | 8.9% |
| HREOX Tax Cost Ratio | na | na | na | na | na | na |
HREOX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| HREOX Return (NAV) | 39.6% | na | na | na | na | na | na | na | na | na | na |
| HREOX Grade | A | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 15.8% | na | na | na | na | na | na | na | na | na | na |
| Diversified Emerging Mkts Avg | 23.7% | 31.4% | 6.2% | 12.1% | -22.6% | -0.2% | 21.6% | 21.9% | -16.4% | 36.7% | 8.6% |
| Risk Measures | |
| Standard Deviation: | na |
| Total Risk Index: | na |
| Category Risk Index: | na |
| Category Risk Grade: | |
| Beta: | na |
| R-Squared: | na |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | -- |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $48 Mil |
| Fund Total Assets: | $ 47 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | na |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 0.8 years | |||
| Average Tenure: 0.8 years | |||
| Managers (Year): Cannon Lance (2025), Qi Ruoshi (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 79 |
| % in Top 10 Holdings: | 44.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 92.6% |
Portfolio Allocation |
|
| Domestic Stock: | 6.6% |
| Foreign Stock: | 92.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.8% |
Purchase Information
| Fund Family: | Hood River Capital Management |
| Phone Number: | 800-497-2960 |
| Website: |
| Status: | Open |
| Inception Date: | November 24, 2025 |
| Min. Initial Purchase: | $25,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.25% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.15% |
| Share Class: | Hood River Emerging Markets Retirement |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
