HFRO vs. CONWX
Compare and contrast key facts about Highland Funds I - Highland Opportunities and Income Fund (HFRO) and Concorde Wealth Management Fund (CONWX).
HFRO is managed by Highland Funds. It was launched on Jan 13, 2000. CONWX is managed by BlackRock. It was launched on Dec 3, 1987.
Performance
HFRO vs. CONWX - Performance Comparison
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HFRO vs. CONWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HFRO Highland Funds I - Highland Opportunities and Income Fund | -2.69% | 25.08% | -27.17% | -16.97% | 1.71% | 16.33% | -8.42% | 4.22% | -12.30% | 1.01% |
CONWX Concorde Wealth Management Fund | 8.18% | 11.95% | 13.58% | 0.20% | -2.51% | 19.73% | 8.76% | 16.84% | -1.95% | 2.06% |
Returns By Period
In the year-to-date period, HFRO achieves a -2.69% return, which is significantly lower than CONWX's 8.18% return.
HFRO
- 1D
- 3.44%
- 1M
- -7.58%
- YTD
- -2.69%
- 6M
- -6.61%
- 1Y
- 18.97%
- 3Y*
- -5.54%
- 5Y*
- -4.71%
- 10Y*
- —
CONWX
- 1D
- -0.62%
- 1M
- -1.70%
- YTD
- 8.18%
- 6M
- 11.51%
- 1Y
- 17.28%
- 3Y*
- 12.45%
- 5Y*
- 7.53%
- 10Y*
- 8.62%
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HFRO vs. CONWX - Expense Ratio Comparison
HFRO has a 0.02% expense ratio, which is lower than CONWX's 1.41% expense ratio.
Return for Risk
HFRO vs. CONWX — Risk / Return Rank
HFRO
CONWX
HFRO vs. CONWX - 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 Concorde Wealth Management Fund (CONWX). 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 | CONWX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.80 | 1.70 | -0.90 |
Sortino ratioReturn per unit of downside risk | 1.20 | 2.36 | -1.17 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.37 | -0.19 |
Calmar ratioReturn relative to maximum drawdown | 1.57 | 1.99 | -0.42 |
Martin ratioReturn relative to average drawdown | 4.05 | 11.30 | -7.25 |
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 | CONWX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.80 | 1.70 | -0.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.20 | 0.74 | -0.94 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.78 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.16 | 0.78 | -0.94 |
Correlation
The correlation between HFRO and CONWX is 0.28, 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. CONWX - Dividend Comparison
HFRO's dividend yield for the trailing twelve months is around 8.09%, more than CONWX's 3.41% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HFRO Highland Funds I - Highland Opportunities and Income Fund | 8.09% | 7.73% | 8.90% | 12.02% | 8.97% | 8.41% | 8.99% | 7.43% | 7.22% | 0.99% |
CONWX Concorde Wealth Management Fund | 3.41% | 3.69% | 10.55% | 2.16% | 7.85% | 3.63% | 3.86% | 2.16% | 5.09% | 2.48% |
Drawdowns
HFRO vs. CONWX - Drawdown Comparison
The maximum HFRO drawdown since its inception was -52.79%, which is greater than CONWX's maximum drawdown of -26.09%. Use the drawdown chart below to compare losses from any high point for HFRO and CONWX.
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Drawdown Indicators
| HFRO | CONWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.79% | -26.09% | -26.70% |
Max Drawdown (1Y)Largest decline over 1 year | -15.74% | -8.60% | -7.14% |
Max Drawdown (5Y)Largest decline over 5 years | -52.79% | -12.49% | -40.30% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.09% | — |
Current DrawdownCurrent decline from peak | -34.66% | -2.03% | -32.63% |
Average DrawdownAverage peak-to-trough decline | -20.50% | -2.78% | -17.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.10% | 1.52% | +4.58% |
Volatility
HFRO vs. CONWX - Volatility Comparison
Highland Funds I - Highland Opportunities and Income Fund (HFRO) has a higher volatility of 8.13% compared to Concorde Wealth Management Fund (CONWX) at 2.12%. This indicates that HFRO's price experiences larger fluctuations and is considered to be riskier than CONWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HFRO | CONWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.13% | 2.12% | +6.01% |
Volatility (6M)Calculated over the trailing 6-month period | 15.20% | 5.43% | +9.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.25% | 10.70% | +13.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.59% | 10.26% | +13.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.54% | 11.15% | +11.39% |