BIMBX vs. HMEZX
BIMBX (BlackRock Systematic Multi-Strategy Class I) and HMEZX (NexPoint Merger Arbitrage Fund) are both mutual funds - BIMBX is a Diversified Portfolio fund managed by BlackRock, while HMEZX is a Event Driven fund managed by Highland Funds. Over the past 10 years, BIMBX returned 4.53%/yr vs 5.98%/yr for HMEZX. At a 0.09 correlation, their price movements are largely independent. BIMBX charges 0.98%/yr vs 1.50%/yr for HMEZX.
Performance
BIMBX vs. HMEZX - Performance Comparison
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Returns By Period
In the year-to-date period, BIMBX achieves a 0.10% return, which is significantly lower than HMEZX's 1.78% return. Over the past 10 years, BIMBX has underperformed HMEZX with an annualized return of 4.53%, while HMEZX has yielded a comparatively higher 5.98% annualized return.
BIMBX
- 1D
- 0.00%
- 1M
- 0.58%
- YTD
- 0.10%
- 6M
- 0.15%
- 1Y
- 1.78%
- 3Y*
- 6.26%
- 5Y*
- 3.54%
- 10Y*
- 4.53%
HMEZX
- 1D
- 0.15%
- 1M
- 0.11%
- YTD
- 1.78%
- 6M
- 1.83%
- 1Y
- 5.33%
- 3Y*
- 6.80%
- 5Y*
- 4.90%
- 10Y*
- 5.98%
BIMBX vs. HMEZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIMBX BlackRock Systematic Multi-Strategy Class I | 0.10% | 5.00% | 6.83% | 6.43% | -2.95% | 6.18% | 3.57% | 8.43% | 1.83% | 9.89% |
HMEZX NexPoint Merger Arbitrage Fund | 1.78% | 6.30% | 7.42% | 4.10% | 2.70% | 5.37% | 8.46% | 8.10% | 5.92% | 5.48% |
Correlation
The correlation between BIMBX and HMEZX is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.09 |
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Return for Risk
BIMBX vs. HMEZX — Risk / Return Rank
BIMBX
HMEZX
BIMBX vs. HMEZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Systematic Multi-Strategy Class I (BIMBX) and NexPoint Merger Arbitrage Fund (HMEZX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BIMBX | HMEZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.79 | ||
| Sortino ratioReturn per unit of downside risk | -6.70 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 2.08 | -0.99 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 9.95 | -9.54 |
| Martin ratioReturn relative to average drawdown | 0.99 | 53.69 | -52.70 |
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Drawdowns
BIMBX vs. HMEZX - Drawdown Comparison
The maximum BIMBX drawdown since its inception was -8.73%, which is greater than HMEZX's maximum drawdown of -6.86%. Use the drawdown chart below to compare losses from any high point for BIMBX and HMEZX.
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Drawdown Indicators
| BIMBX | HMEZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.73% | -6.86% | -1.87% |
Max Drawdown (1Y)Largest decline over 1 year | -5.09% | -0.55% | -4.54% |
Max Drawdown (3Y)Largest decline over 3 years | -5.09% | -1.06% | -4.03% |
Max Drawdown (5Y)Largest decline over 5 years | -6.50% | -1.94% | -4.56% |
Max Drawdown (10Y)Largest decline over 10 years | -8.73% | -6.86% | -1.87% |
Current DrawdownCurrent decline from peak | -3.98% | -0.04% | -3.94% |
Average DrawdownAverage peak-to-trough decline | -1.20% | -0.37% | -0.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 0.10% | +1.99% |
Volatility
BIMBX vs. HMEZX - Volatility Comparison
BlackRock Systematic Multi-Strategy Class I (BIMBX) has a higher volatility of 1.19% compared to NexPoint Merger Arbitrage Fund (HMEZX) at 0.43%. This indicates that BIMBX's price experiences larger fluctuations and is considered to be riskier than HMEZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIMBX | HMEZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 0.43% | +0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 3.32% | 0.91% | +2.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.22% | 1.28% | +2.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.64% | 1.67% | +1.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.59% | 3.79% | -0.20% |
BIMBX vs. HMEZX - Expense Ratio Comparison
BIMBX has a 0.98% expense ratio, which is lower than HMEZX's 1.50% expense ratio.
Dividends
BIMBX vs. HMEZX - Dividend Comparison
BIMBX's dividend yield for the trailing twelve months is around 2.27%, less than HMEZX's 5.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BIMBX BlackRock Systematic Multi-Strategy Class I | 2.27% | 2.27% | 4.07% | 4.48% | 4.99% | 2.62% | 1.31% | 3.90% | 8.93% | 4.08% | 5.00% |
HMEZX NexPoint Merger Arbitrage Fund | 5.08% | 5.04% | 6.36% | 5.07% | 5.11% | 3.63% | 5.83% | 0.33% | 19.16% | 6.88% | 0.02% |
Frequently Asked Questions
BIMBX and HMEZX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIMBX has higher volatility (1.19%) compared to HMEZX (0.43%). In terms of maximum drawdown, BIMBX dropped -8.73% vs HMEZX's -6.86%.
HMEZX currently has the higher Sharpe Ratio (4.29 vs 0.49), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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