FLSPX vs. HHCZX
FLSPX (Meeder Spectrum Fund) and HHCZX (NexPoint Event Driven Fund) are both Long-Short funds. Over the past 10 years, FLSPX returned 10.50%/yr vs 3.84%/yr for HHCZX. Their 0.53 correlation means they have sometimes moved together and sometimes differently. FLSPX charges 1.52%/yr vs 1.69%/yr for HHCZX.
Performance
FLSPX vs. HHCZX - Performance Comparison
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Returns By Period
In the year-to-date period, FLSPX achieves a 10.62% return, which is significantly higher than HHCZX's -3.72% return. Over the past 10 years, FLSPX has outperformed HHCZX with an annualized return of 10.50%, while HHCZX has yielded a comparatively lower 3.84% annualized return.
FLSPX
- 1D
- 1.77%
- 1M
- 0.60%
- 6M
- 7.28%
- YTD
- 10.62%
- 1Y
- 23.47%
- 3Y*
- 19.05%
- 5Y*
- 11.66%
- 10Y*
- 10.50%
- ALL TIME*
- 9.46%
HHCZX
- 1D
- 1.81%
- 1M
- -1.12%
- 6M
- -4.86%
- YTD
- -3.72%
- 1Y
- -0.65%
- 3Y*
- 4.05%
- 5Y*
- 0.90%
- 10Y*
- 3.84%
- ALL TIME*
- 4.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
FLSPX Meeder Spectrum Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
FLSPX vs. HHCZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLSPX Meeder Spectrum Fund | 10.62% | 16.15% | 27.96% | 14.00% | -11.49% | 20.56% | -0.23% | 13.03% | -3.96% | 19.30% |
HHCZX NexPoint Event Driven Fund | -3.72% | 6.52% | 7.22% | 5.44% | -5.49% | -17.31% | 22.24% | 11.36% | 12.72% | 8.76% |
Correlation
The correlation between FLSPX and HHCZX is 0.50, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.50 |
Correlation (3Y) Balances recent behavior with more history. | 0.51 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.55 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jan 6, 2015 | 0.53 |
The correlation between FLSPX and HHCZX has been stable across timeframes, ranging from 0.50 to 0.55 - a consistent structural relationship.
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Return for Risk
FLSPX vs. HHCZX — Risk / Return Rank
FLSPX
HHCZX
FLSPX vs. HHCZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Meeder Spectrum Fund (FLSPX) and NexPoint Event Driven Fund (HHCZX). 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.
| FLSPX | HHCZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.77 | ||
| Sortino ratioReturn per unit of downside risk | +2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.00 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 2.49 | -0.11 | +2.60 |
| Martin ratioReturn relative to average drawdown | 10.08 | -0.18 | +10.26 |
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Drawdowns
FLSPX vs. HHCZX - Drawdown Comparison
The maximum FLSPX drawdown since its inception was -27.07%, smaller than the maximum HHCZX drawdown of -33.57%. Use the drawdown chart below to compare losses from any high point for FLSPX and HHCZX.
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Drawdown Indicators
| FLSPX | HHCZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.07% | -33.57% | +6.50% |
Max Drawdown (1Y)Largest decline over 1 year | -8.73% | -15.42% | +6.69% |
Max Drawdown (3Y)Largest decline over 3 years | -16.23% | -15.42% | -0.81% |
Max Drawdown (5Y)Largest decline over 5 years | -20.01% | -19.51% | -0.50% |
Max Drawdown (10Y)Largest decline over 10 years | -27.07% | -32.15% | +5.08% |
Current DrawdownCurrent decline from peak | -1.07% | -15.50% | +14.43% |
Average DrawdownAverage peak-to-trough decline | -5.63% | -14.03% | +8.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 9.34% | -7.19% |
Volatility
FLSPX vs. HHCZX - Volatility Comparison
Meeder Spectrum Fund (FLSPX) has a higher volatility of 3.35% compared to NexPoint Event Driven Fund (HHCZX) at 3.12%. This indicates that FLSPX's price experiences larger fluctuations and is considered to be riskier than HHCZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLSPX | HHCZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.35% | 3.12% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 10.13% | 7.99% | +2.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.98% | 16.78% | -3.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.50% | 10.14% | +3.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.61% | 16.28% | -2.67% |
FLSPX vs. HHCZX - Expense Ratio Comparison
FLSPX has a 1.52% expense ratio, which is lower than HHCZX's 1.69% expense ratio.
Dividends
FLSPX vs. HHCZX - Dividend Comparison
FLSPX's dividend yield for the trailing twelve months is around 4.10%, while HHCZX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLSPX Meeder Spectrum Fund | 4.10% | 4.32% | 17.39% | 8.41% | 2.81% | 5.55% | 0.09% | 0.96% | 1.26% | 6.78% | 2.52% | 1.55% |
HHCZX NexPoint Event Driven Fund | 0.00% | 0.00% | 0.56% | 2.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.06% | 0.00% | 4.27% |
Frequently Asked Questions
FLSPX and HHCZX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLSPX has higher volatility (3.35%) compared to HHCZX (3.12%). In terms of maximum drawdown, FLSPX dropped -27.07% vs HHCZX's -33.57%.
FLSPX currently has the higher Sharpe Ratio (1.68 vs -0.10), 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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