Highland Global Allocation Fund (HGLB) belongs to the Global Allocation category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with HGLB. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to HGLB
HGLB charges 0.02% annually. There is 1 mutual fund in the Global Allocation category with a lower expense ratio, going as low as 0.01%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Voya Global Advantage and Premium Opportunity Fund | 0.01% | — | Oct 2005 | HGLB vs IGA | |
| Lazard Global Total Return and Income Fund | 0.02% | — | Apr 2004 | HGLB vs LGI | |
| GMO Implementation Fund | 0.02% | — | Feb 2012 | HGLB vs GIMFX | |
| Dimensional Multi-Asset Fund | 0.04% | — | Dec 2009 | HGLB vs DMO | |
| Goldman Sachs Growth Strategy Portfolio | 0.19% | — | Jan 1998 | HGLB vs GGSIX |
Best Risk-Adjusted Alternatives to HGLB
HGLB has a PortfoliosLab risk / return rank of 6. There are 84 mutual funds in the Global Allocation category with higher risk-adjusted ranks, going as high as 98.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Thornburg Investment Income Builder Fund | 98 | — | Dec 2002 | HGLB vs TIBAX | |
| GMO Benchmark-Free Fund | 97 | — | Jun 2011 | HGLB vs GBFFX | |
| GMO Benchmark-Free Allocation Fund | 97 | — | Jul 2003 | HGLB vs GBMFX | |
| GMO Implementation Fund | 97 | — | Feb 2012 | HGLB vs GIMFX | |
| Principal Diversified Select Real Asset Fund | 97 | — | Jul 2019 | HGLB vs PDSYX |
Top Performing HGLB Alternatives (YTD)
HGLB is at -11.30% YTD. There are 86 mutual funds in the Global Allocation category with higher YTD returns, going as high as 18.98%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Thornburg Investment Income Builder Fund | 18.98% | — | Dec 2002 | HGLB vs TIBAX | |
| Calamos Global Total Return Fund | 17.25% | — | Oct 2005 | HGLB vs CGO | |
| Calamos Global Dynamic Income Fund | 16.99% | — | Jun 2007 | HGLB vs CHW | |
| Wilmington Real Asset Fund | 16.46% | — | Jun 2003 | HGLB vs WMRIX | |
| Nuveen Multi-Asset Income Fund | 15.72% | — | Nov 2021 | HGLB vs NMAI |
Lowest Volatility Alternatives to HGLB
HGLB has 21.21% 1-year volatility. There are 86 mutual funds in the Global Allocation category with lower 1-year volatility, going as low as 3.03%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Principal Diversified Select Real Asset Fund | 3.03% | — | Jul 2019 | HGLB vs PDSYX | |
| PFG BNY Mellon Diversifier Strategy Fund | 4.42% | — | Dec 2017 | HGLB vs PFADX | |
| LoCorr Macro Strategies Fund Class I | 5.78% | — | Mar 2011 | HGLB vs LFMIX | |
| Nuveen Real Asset Income Fund | 5.79% | — | Sep 2011 | HGLB vs NRIIX | |
| Pioneer Multi-Asset Income Fund | 5.96% | — | Dec 2011 | HGLB vs PMFYX |
Lowest Drawdown Alternatives to HGLB
HGLB has a 1-year max drawdown of -24.13%. There are 86 mutual funds in the Global Allocation category with shallower 1-year drawdowns, going as shallow as -1.98%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Principal Diversified Select Real Asset Fund | -1.98% | — | Jul 2019 | HGLB vs PDSYX | |
| LoCorr Macro Strategies Fund Class I | -3.48% | — | Mar 2011 | HGLB vs LFMIX | |
| PFG BNY Mellon Diversifier Strategy Fund | -3.63% | — | Dec 2017 | HGLB vs PFADX | |
| Pioneer Multi-Asset Income Fund | -4.08% | — | Dec 2011 | HGLB vs PMFYX | |
| Morningstar Global Income Fund | -4.38% | — | Nov 2018 | HGLB vs MSTGX |
Other Mutual Funds from Highland Funds
The 3 most viewed Highland Funds mutual funds shown here include HMEZX, HFRO, HHCZX and span 3 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| NexPoint Merger Arbitrage Fund | Event Driven | 99 | 2.30% | — | Aug 2016 | HGLB vs HMEZX | |
| Highland Funds I - Highland Opportunities and Inco... | Diversified Portfolio | 83 | 31.50% | — | Jan 2000 | HGLB vs HFRO | |
| NexPoint Event Driven Fund | Long-Short | 3 | -3.95% | — | May 2008 | HGLB vs HHCZX |
Often Compared With HGLB
Investors most often compare HGLB with RAPZX, GAA, PDRDX. These 19 comparison targets span 5 categories, based on PortfoliosLab usage data.
Compare HGLB with Any Fund or Stock
Compare HGLB with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair HGLB with funds that move differently
Highland Global Allocation Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to HGLB.
Explore HGLB Diversifiers