GRHAX Performance — Goehring & Rozencwajg Resources Fund, Retail Class
Data updated: 2026-10-05
GRHAX returned +16.95% year to date and +69.50% over one year to May 2026. Annualised returns are +31.85% over 3 years and +21.81% over 5 years. The fund trailed its International Energy Equity category average: $100 invested three years ago grew to $229, against $230 for the category, and to $170 over one year, against $170. Volatility over the past three years was 20.74% a year. In the 12 months to May 2026 the fund took in a net $279.5M, and assets reached $1.17B.
GRHAX Growth of $100
What $100 invested in Goehring & Rozencwajg Resources Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the International Energy Equity category average over the same months.
| Period | GRHAX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $170 | $170 |
| 3 years (Jun 2023 – May 2026) | $229 | $230 |
| 5 years (Jun 2021 – May 2026) | $268 | $268 |
| Since data start (Mar 2020 – May 2026) | $531 | $364 |
GRHAX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +16.95% |
| 1 year | +69.50% |
| 3 years (annualised) | +31.85% |
| 5 years (annualised) | +21.81% |
GRHAX Annual Returns
Calendar-year total returns of Goehring & Rozencwajg Resources Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +16.95% |
| 2025 | +60.92% |
| 2024 | −1.66% |
| 2023 | +16.10% |
| 2022 | +16.24% |
| 2021 | +61.59% |
| 2020 (Mar–Dec) | +31.48% |
GRHAX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +14.9% | +9.3% | −3.5% | +1.1% | −4.7% | — | — | — | — | — | — | — |
| 2025 | +3.2% | −5.6% | +5.4% | −2.0% | +10.3% | +10.2% | −1.5% | +6.7% | +15.1% | +0.7% | +3.5% | +4.2% |
| 2024 | −1.8% | −2.3% | +7.9% | +1.4% | +6.9% | −8.6% | +0.4% | −4.9% | +3.6% | +2.2% | +3.8% | −8.6% |
| 2023 | +7.8% | −3.5% | −3.5% | 0.0% | −6.7% | +9.7% | +10.4% | +1.6% | +1.0% | −2.8% | +1.7% | +0.9% |
| 2022 | +3.0% | +11.5% | +15.7% | −5.1% | +5.8% | −20.9% | +13.8% | +3.4% | −12.2% | +12.7% | +2.7% | −7.8% |
| 2021 | +4.2% | +19.6% | +2.2% | +5.2% | +12.2% | +2.2% | −8.4% | −0.4% | +13.2% | +9.8% | −8.0% | +0.7% |
| 2020 | — | — | −28.2% | +33.4% | +3.3% | +1.0% | +6.6% | +6.2% | −10.2% | −0.6% | +18.0% | +10.3% |
GRHAX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 20.74%
- 3-year Sharpe ratio: 1.32 (vs 4.5% risk-free rate)
- Best month: +15.13% (Sep 2025)
- Worst month: −8.64% (Jun 2024)
GRHAX Fund Flows
Monthly money in and out of Goehring & Rozencwajg Resources Fund, from SEC Form N-PORT.
- 12-month net flow: $279.5M
- 12-month gross sales (incl. reinvestments): $405.1M
- Sales ÷ redemptions: 3.22×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $32.0M | $14.6M | $17.4M |
| Apr 2026 | $46.5M | $15.0M | $31.5M |
| Mar 2026 | $58.0M | $19.8M | $38.2M |
| Feb 2026 | $69.2M | $10.5M | $58.8M |
| Jan 2026 | $54.0M | $15.2M | $38.9M |
| Dec 2025 | $42.4M | $10.2M | $32.1M |
| Nov 2025 | $15.8M | $5.7M | $10.1M |
| Oct 2025 | $25.1M | $16.8M | $8.3M |
| Sep 2025 | $18.4M | $3.5M | $15.0M |
| Aug 2025 | $15.5M | $3.3M | $12.2M |
| Jul 2025 | $15.1M | $7.7M | $7.4M |
| Jun 2025 | $12.9M | $3.3M | $9.6M |
GRHAX Assets Under Management
Net assets of Goehring & Rozencwajg Resources Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-08-31 | $1.17B |
| 2026-05-31 | $1.08B |
| 2026-02-28 | $1.07B |
| 2025-11-30 | $726.71M |
| 2025-08-31 | $575.23M |
| 2025-05-31 | $469.56M |
| 2025-02-28 | $406.40M |
| 2024-11-30 | $432.29M |
| 2024-08-31 | $383.83M |
| 2024-05-31 | $408.00M |
| 2024-02-29 | $254.97M |
| 2023-11-30 | $250.79M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.