Highland Funds I - Highland Opportunities and Income Fund (HFRO) belongs to the Diversified Portfolio category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with HFRO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to HFRO
HFRO charges 0.02% annually. There is 1 mutual fund in the Diversified Portfolio category with a lower expense ratio, going as low as 0.02%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| John Hancock Diversified Income Fund | 0.02% | — | May 2011 | HFRO vs HEQ | |
| Fidelity 70% Allocation Fund | 0.02% | — | Jan 2022 | HFRO vs FRGAX | |
| PGIM 60/40 Allocation Fund | 0.03% | — | Sep 2017 | HFRO vs PALDX | |
| Dimensional Managed Account Fund | 0.03% | — | Mar 2012 | HFRO vs DMA | |
| Vanguard Balanced Index Fund Institutional Shares | 0.04% | 64.10B | Dec 2000 | HFRO vs VBAIX |
Best Risk-Adjusted Alternatives to HFRO
HFRO has a PortfoliosLab risk / return rank of 82. There are 54 mutual funds in the Diversified Portfolio category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| SEI Asset Allocation Trust Defensive Strategy Allo... | 99 | — | Nov 2003 | HFRO vs STDAX | |
| Thornburg Investment Income Builder Fund Class I | 97 | — | Dec 2002 | HFRO vs TIBIX | |
| Nuveen Flexible Income Fund | 97 | — | Dec 2009 | HFRO vs NWQIX | |
| Pioneer Balanced ESG Fund | 93 | — | Dec 1991 | HFRO vs AYBLX | |
| Victory Pioneer Balanced Fund Class A | 93 | — | Dec 1991 | HFRO vs AOBLX |
Top Performing HFRO Alternatives (YTD)
HFRO is at 32.36% YTD. No mutual funds in the Diversified Portfolio category have higher YTD returns; the top-performing alternatives shown here go as high as 31.24%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Allspring Diversified Capital Builder Fund | 31.24% | — | Jan 1998 | HFRO vs EKBAX | |
| Hood River New Opportunities Fund Institutional Cl... | 22.82% | — | — | HFRO vs HRNOX | |
| Greenspring Fund | 19.30% | — | Jun 1983 | HFRO vs GRSPX | |
| MH Elite Small Cap Fund of Funds Fund | 19.20% | — | Aug 1998 | HFRO vs MHELX | |
| ICON Equity Income Fund | 18.43% | — | May 2004 | HFRO vs IOEZX |
Lowest Volatility Alternatives to HFRO
HFRO has 21.75% 1-year volatility. There are 552 mutual funds in the Diversified Portfolio category with lower 1-year volatility, going as low as 0.86%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| SEI Asset Allocation Trust Defensive Strategy Allo... | 0.86% | — | Nov 2003 | HFRO vs STDAX | |
| SEI Asset Allocation Trust Conservative Strategy F... | 2.82% | — | Nov 2003 | HFRO vs SICIX | |
| SEI Institutional Managed Trust Multi-Asset Capita... | 2.87% | — | Apr 2012 | HFRO vs SCLAX | |
| Ave Maria Bond Fund | 2.99% | — | Apr 2003 | HFRO vs AVEFX | |
| American Funds College 2027 Fund | 3.11% | — | Sep 2012 | HFRO vs CSTAX |
Lowest Drawdown Alternatives to HFRO
HFRO has a 1-year max drawdown of -15.74%. There are 550 mutual funds in the Diversified Portfolio category with shallower 1-year drawdowns, going as shallow as -0.36%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| SEI Asset Allocation Trust Defensive Strategy Allo... | -0.36% | — | Nov 2003 | HFRO vs STDAX | |
| SEI Institutional Managed Trust Multi-Asset Capita... | -2.32% | — | Apr 2012 | HFRO vs SCLAX | |
| DFA Global Allocation 25/75 Portfolio | -2.64% | — | Dec 2003 | HFRO vs DGTSX | |
| SEI Asset Allocation Trust Conservative Strategy F... | -2.65% | — | Nov 2003 | HFRO vs SICIX | |
| American Funds College 2027 Fund | -2.72% | — | Sep 2012 | HFRO vs CSTAX |
Other Mutual Funds from Highland Funds
The 3 most viewed Highland Funds mutual funds shown here include HMEZX, HGLB, HHCZX and span 3 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| NexPoint Merger Arbitrage Fund | Event Driven | 99 | 2.24% | — | Aug 2016 | HFRO vs HMEZX | |
| Highland Global Allocation Fund | Global Allocation | 3 | -13.26% | — | Jan 1998 | HFRO vs HGLB | |
| NexPoint Event Driven Fund | Long-Short | 3 | -4.12% | — | May 2008 | HFRO vs HHCZX |
Often Compared With HFRO
Investors most often compare HFRO with PMFKX, CFIHX, SCD. These 20 comparison targets span 2 categories, based on PortfoliosLab usage data.
Compare HFRO with Any Fund or Stock
Compare HFRO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair HFRO with funds that move differently
Highland Funds I - Highland Opportunities and Income Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to HFRO.
Explore HFRO Diversifiers