HGLB vs. TRIN
HGLB (Highland Global Allocation Fund) is Global Allocation fund managed by Highland Funds, while TRIN (Trinity Capital Inc.) is a stock. Over the past 5 years, HGLB returned 7.48%/yr vs 20.45%/yr for TRIN. At a 0.19 correlation, their price movements are largely independent.
Performance
HGLB vs. TRIN - Performance Comparison
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Returns By Period
In the year-to-date period, HGLB achieves a -14.42% return, which is significantly lower than TRIN's 30.15% return.
HGLB
- 1D
- -1.47%
- 1M
- -7.56%
- YTD
- -14.42%
- 6M
- -15.26%
- 1Y
- -7.09%
- 3Y*
- 8.63%
- 5Y*
- 7.48%
- 10Y*
- —
TRIN
- 1D
- -0.30%
- 1M
- 9.54%
- YTD
- 30.15%
- 6M
- 30.37%
- 1Y
- 47.05%
- 3Y*
- 28.09%
- 5Y*
- 20.45%
- 10Y*
- —
HGLB vs. TRIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HGLB Highland Global Allocation Fund | -14.42% | 51.74% | -1.52% | -6.15% | 14.53% | 47.12% |
TRIN Trinity Capital Inc. | 30.15% | 16.01% | 14.83% | 53.97% | -26.60% | 36.20% |
Correlation
The correlation between HGLB and TRIN is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2021 | 0.19 |
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Return for Risk
HGLB vs. TRIN — Risk / Return Rank
HGLB
TRIN
HGLB vs. TRIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Highland Global Allocation Fund (HGLB) and Trinity Capital Inc. (TRIN). 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.
| HGLB | TRIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.58 | ||
| Sortino ratioReturn per unit of downside risk | -3.42 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.38 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 3.15 | -3.45 |
| Martin ratioReturn relative to average drawdown | -0.59 | 7.94 | -8.53 |
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Drawdowns
HGLB vs. TRIN - Drawdown Comparison
The maximum HGLB drawdown since its inception was -70.40%, which is greater than TRIN's maximum drawdown of -43.12%. Use the drawdown chart below to compare losses from any high point for HGLB and TRIN.
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Drawdown Indicators
| HGLB | TRIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.40% | -43.12% | -27.28% |
Max Drawdown (1Y)Largest decline over 1 year | -23.86% | -14.99% | -8.87% |
Max Drawdown (3Y)Largest decline over 3 years | -23.86% | -15.58% | -8.28% |
Max Drawdown (5Y)Largest decline over 5 years | -29.88% | -43.12% | +13.24% |
Current DrawdownCurrent decline from peak | -23.86% | -0.36% | -23.50% |
Average DrawdownAverage peak-to-trough decline | -18.20% | -8.86% | -9.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.08% | 5.95% | +6.13% |
Volatility
HGLB vs. TRIN - Volatility Comparison
The current volatility for Highland Global Allocation Fund (HGLB) is 6.01%, while Trinity Capital Inc. (TRIN) has a volatility of 7.87%. This indicates that HGLB experiences smaller price fluctuations and is considered to be less risky than TRIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HGLB | TRIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.01% | 7.87% | -1.86% |
Volatility (6M)Calculated over the trailing 6-month period | 12.99% | 16.48% | -3.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.21% | 21.06% | +0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.12% | 26.75% | -4.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.62% | 27.01% | +0.61% |
Dividends
HGLB vs. TRIN - Dividend Comparison
HGLB's dividend yield for the trailing twelve months is around 14.12%, less than TRIN's 20.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HGLB Highland Global Allocation Fund | 14.12% | 11.57% | 14.27% | 12.82% | 10.32% | 9.39% | 15.44% | 11.35% |
TRIN Trinity Capital Inc. | 20.99% | 13.92% | 14.10% | 14.04% | 21.32% | 7.17% | 0.00% | 0.00% |
Frequently Asked Questions
HGLB and TRIN have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TRIN has higher volatility (7.87%) compared to HGLB (6.01%). In terms of maximum drawdown, HGLB dropped -70.40% vs TRIN's -43.12%.
TRIN currently has the higher Sharpe Ratio (2.25 vs -0.34), 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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