Fund Evaluator:

Hood River International Opportunity Ret Overview

Hood River International Opportunity Ret (HRITX) is an actively managed International Equity Foreign Small/Mid Growth fund. Hood River Capital Management launched the fund in 2021.

The investment seeks long-term growth of capital. The fund will invest primarily in common stocks and other equity securities of small-capitalization companies that are located in non-U.S. developed or emerging markets countries. Under normal market conditions, the fund will invest in issuers located in at least ten of the countries included in the Morgan Stanley Capital International AC World Index ex USA Small Cap Index. The adviser is expected to maintain a portfolio of approximately 80-85 stocks, which is constructed with the overall goal of mitigating both issuer-specific and portfolio risk.

About Hood River International Opportunity Ret (HRITX)

There are 3 members of the management team with an average tenure of 4.93 years: David Swank (2021), Lance Cannon (2021), Brian Smoluch (2021). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: MSCI ACWI Ex USA NR USD index with a weighting of 100% and MSCI ACWI Ex USA Small NR USD index with a weighting of 100%. Hood River International Opportunity Ret has 104 securities in its portfolio. The top 10 holdings constitute 29.7% 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 International Opportunity Ret is part of the Equity global asset class and is within the International Equity fund group. Hood River International Opportunity Ret has 82.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 12.7%. There is 82.3% 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 International Opportunity Ret has 5.0% of the portfolio in cash.

Assets Under Management

The fund has $45 million in total assets, which is below the $325 million average for the Foreign Small/Mid Growth 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.

HRITX 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 International Opportunity Ret expense ratio is high compared to funds in the Foreign Small/Mid Growth category. Hood River International Opportunity Ret has an expense ratio of 1.16%, which is 5% lower than its category average, making the fund expense ratio grade a C. 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. Hood River International Opportunity Ret has a portfolio turnover rate of 220%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 65% for the Foreign Small/Mid Growth category.

Recently, in the month of August 2026, Hood River International Opportunity Ret returned 7.2%, which earned it a grade of A, as the Foreign Small/Mid Growth category had an average return of 4.3%. 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 International Opportunity Ret has a trailing yield of 1.11%, which is below the 1.38% 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.

Hood River International Opportunity Ret Grades

Year to date, the fund has returned 27.9%, 16.6 percentage points better than the category, which translates into a grade of A. The fund has returned 47.8% over the past year (grade of A) and 33.1% over the past three years (grade of A).

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