HFRO vs. AAAAX
Compare and contrast key facts about Highland Funds I - Highland Opportunities and Income Fund (HFRO) and DWS RREEF Real Assets Fund - Class A (AAAAX).
HFRO is managed by Highland Funds. It was launched on Jan 13, 2000. AAAAX is managed by DWS. It was launched on Jul 30, 2007.
Performance
HFRO vs. AAAAX - Performance Comparison
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HFRO vs. AAAAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HFRO Highland Funds I - Highland Opportunities and Income Fund | -3.03% | 25.08% | -27.17% | -16.97% | 1.71% | 16.33% | -8.42% | 4.22% | -12.30% | 1.01% |
AAAAX DWS RREEF Real Assets Fund - Class A | 9.77% | 12.82% | 5.24% | 2.30% | -9.91% | 23.45% | 3.71% | 21.42% | -5.36% | 1.47% |
Returns By Period
In the year-to-date period, HFRO achieves a -3.03% return, which is significantly lower than AAAAX's 9.77% return.
HFRO
- 1D
- -0.35%
- 1M
- -8.34%
- YTD
- -3.03%
- 6M
- -6.64%
- 1Y
- 19.01%
- 3Y*
- -5.65%
- 5Y*
- -4.78%
- 10Y*
- —
AAAAX
- 1D
- 1.09%
- 1M
- -3.53%
- YTD
- 9.77%
- 6M
- 11.84%
- 1Y
- 17.50%
- 3Y*
- 10.19%
- 5Y*
- 6.78%
- 10Y*
- 7.40%
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HFRO vs. AAAAX - Expense Ratio Comparison
HFRO has a 0.02% expense ratio, which is lower than AAAAX's 1.22% expense ratio.
Return for Risk
HFRO vs. AAAAX — Risk / Return Rank
HFRO
AAAAX
HFRO vs. AAAAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Highland Funds I - Highland Opportunities and Income Fund (HFRO) and DWS RREEF Real Assets Fund - Class A (AAAAX). 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.
| HFRO | AAAAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.80 | 1.57 | -0.77 |
Sortino ratioReturn per unit of downside risk | 1.20 | 2.11 | -0.90 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.32 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | 1.18 | 1.91 | -0.73 |
Martin ratioReturn relative to average drawdown | 3.03 | 10.22 | -7.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HFRO | AAAAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.80 | 1.57 | -0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.20 | 0.56 | -0.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.16 | 0.38 | -0.55 |
Correlation
The correlation between HFRO and AAAAX is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
HFRO vs. AAAAX - Dividend Comparison
HFRO's dividend yield for the trailing twelve months is around 8.12%, more than AAAAX's 3.23% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HFRO Highland Funds I - Highland Opportunities and Income Fund | 8.12% | 7.73% | 8.90% | 12.02% | 8.97% | 8.41% | 8.99% | 7.43% | 7.22% | 0.99% | 0.00% | 0.00% |
AAAAX DWS RREEF Real Assets Fund - Class A | 3.23% | 3.54% | 2.45% | 2.08% | 4.17% | 2.31% | 1.33% | 1.81% | 1.61% | 1.52% | 1.47% | 2.15% |
Drawdowns
HFRO vs. AAAAX - Drawdown Comparison
The maximum HFRO drawdown since its inception was -52.79%, which is greater than AAAAX's maximum drawdown of -40.47%. Use the drawdown chart below to compare losses from any high point for HFRO and AAAAX.
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Drawdown Indicators
| HFRO | AAAAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.79% | -40.47% | -12.32% |
Max Drawdown (1Y)Largest decline over 1 year | -15.74% | -9.55% | -6.19% |
Max Drawdown (5Y)Largest decline over 5 years | -52.79% | -22.62% | -30.17% |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.41% | — |
Current DrawdownCurrent decline from peak | -34.89% | -3.53% | -31.36% |
Average DrawdownAverage peak-to-trough decline | -20.50% | -6.89% | -13.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.13% | 1.79% | +4.34% |
Volatility
HFRO vs. AAAAX - Volatility Comparison
Highland Funds I - Highland Opportunities and Income Fund (HFRO) has a higher volatility of 7.74% compared to DWS RREEF Real Assets Fund - Class A (AAAAX) at 3.27%. This indicates that HFRO's price experiences larger fluctuations and is considered to be riskier than AAAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HFRO | AAAAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.74% | 3.27% | +4.47% |
Volatility (6M)Calculated over the trailing 6-month period | 15.13% | 7.26% | +7.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.78% | 11.62% | +12.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.58% | 12.19% | +11.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.53% | 12.66% | +9.87% |