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HHCZX vs. CRIHX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HHCZX vs. CRIHX

Last updated Jul 15, 2026
Documentation

HHCZX (NexPoint Event Driven Fund) and CRIHX (CRM Long/Short Opportunities Fund) are both Long-Short funds. Over the past 5 years, HHCZX returned -0.16%/yr vs 6.65%/yr for CRIHX. At a 0.43 correlation, their price movements are largely independent. HHCZX charges 1.69%/yr vs 1.60%/yr for CRIHX.

Performance

HHCZX vs. CRIHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NexPoint Event Driven Fund (HHCZX) and CRM Long/Short Opportunities Fund (CRIHX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HHCZX achieves a -4.12% return, which is significantly lower than CRIHX's 10.40% return.

HHCZX

1D
-0.36%
1M
0.96%
6M
-7.30%
YTD
-4.12%
1Y
-1.35%
3Y*
4.45%
5Y*
-0.16%
10Y*
3.85%

CRIHX

1D
0.21%
1M
-1.96%
6M
5.90%
YTD
10.40%
1Y
16.65%
3Y*
8.54%
5Y*
6.65%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HHCZX vs. CRIHX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HHCZX
NexPoint Event Driven Fund		-4.12%6.52%7.22%5.44%-5.49%-17.31%22.24%11.36%12.72%8.76%
CRIHX
CRM Long/Short Opportunities Fund		10.40%-1.55%17.72%6.06%-4.24%5.91%20.44%12.95%-8.43%4.49%

Correlation

The correlation between HHCZX and CRIHX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.45

Correlation (3Y)
Calculated over the trailing 3-year period

0.49

Correlation (5Y)
Calculated over the trailing 5-year period

0.50

Correlation (All Time)
Calculated using the full available price history since Aug 22, 2016

0.43

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

NexPoint Event Driven Fund

CRM Long/Short Opportunities Fund

Often compared with HHCZX:
HHCZX vs. HFROHHCZX vs. HGLBHHCZX vs. SNOIXHHCZX vs. VMNFXHHCZX vs. QAMNXHHCZX vs. HMEZXHHCZX vs. BAC
Often compared with CRIHX:
CRIHX vs. QLEIXCRIHX vs. SAOAXCRIHX vs. SNOIXCRIHX vs. ASILXCRIHX vs. BTPIXCRIHX vs. MNWIXCRIHX vs. SPY

Return for Risk

HHCZX vs. CRIHX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HHCZX
HHCZX Risk / Return Rank: 33
Overall Rank
HHCZX Sharpe Ratio Rank: 33
Sharpe Ratio Rank
HHCZX Sortino Ratio Rank: 33
Sortino Ratio Rank
HHCZX Omega Ratio Rank: 33
Omega Ratio Rank
HHCZX Calmar Ratio Rank: 33
Calmar Ratio Rank
HHCZX Martin Ratio Rank: 33
Martin Ratio Rank
CRIHX
CRIHX Risk / Return Rank: 3333
Overall Rank
CRIHX Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
CRIHX Sortino Ratio Rank: 3333
Sortino Ratio Rank
CRIHX Omega Ratio Rank: 3030
Omega Ratio Rank
CRIHX Calmar Ratio Rank: 3838
Calmar Ratio Rank
CRIHX Martin Ratio Rank: 3232
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HHCZX vs. CRIHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NexPoint Event Driven Fund (HHCZX) and CRM Long/Short Opportunities Fund (CRIHX). 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.

HHCZXCRIHXDifference
Sharpe ratioReturn per unit of total volatility
-0.09
1.19

-1.28

Sortino ratioReturn per unit of downside risk
-0.01
1.83

-1.84

Omega ratioGain probability vs. loss probability

1.00

1.22

-0.22

Calmar ratioReturn relative to maximum drawdown

-0.09

1.87

-1.96

Martin ratioReturn relative to average drawdown

-0.16

5.53

-5.69

HHCZX vs. CRIHX - Sharpe Ratio Comparison

The current HHCZX Sharpe Ratio is -0.09, which is lower than the CRIHX Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of HHCZX and CRIHX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

HHCZX vs. CRIHX - Drawdown Comparison

The maximum HHCZX drawdown since its inception was -33.57%, which is greater than CRIHX's maximum drawdown of -21.33%. Use the drawdown chart below to compare losses from any high point for HHCZX and CRIHX.

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Drawdown Indicators

HHCZXCRIHXDifference

Max Drawdown

Largest peak-to-trough decline

-33.57%

-21.33%

-12.24%

Max Drawdown (1Y)

Largest decline over 1 year

-15.42%

-9.07%

-6.35%

Max Drawdown (3Y)

Largest decline over 3 years

-15.42%

-15.87%

+0.45%

Max Drawdown (5Y)

Largest decline over 5 years

-19.51%

-15.87%

-3.64%

Max Drawdown (10Y)

Largest decline over 10 years

-32.15%

—

—

Current Drawdown

Current decline from peak

-15.86%

-5.08%

-10.78%

Average Drawdown

Average peak-to-trough decline

-14.02%

-4.10%

-9.92%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.88%

3.05%

+5.83%

Volatility

HHCZX vs. CRIHX - Volatility Comparison

The current volatility for NexPoint Event Driven Fund (HHCZX) is 3.14%, while CRM Long/Short Opportunities Fund (CRIHX) has a volatility of 5.21%. This indicates that HHCZX experiences smaller price fluctuations and is considered to be less risky than CRIHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HHCZXCRIHXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.14%

5.21%

-2.07%

Volatility (6M)

Calculated over the trailing 6-month period

7.78%

10.86%

-3.08%

Volatility (1Y)

Calculated over the trailing 1-year period

16.60%

14.25%

+2.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.44%

11.33%

-0.89%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.28%

11.21%

+5.07%

HHCZX vs. CRIHX - Expense Ratio Comparison

HHCZX has a 1.69% expense ratio, which is higher than CRIHX's 1.60% expense ratio.

Dividends

HHCZX vs. CRIHX - Dividend Comparison

Neither HHCZX nor CRIHX has paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
CRIHX
CRM Long/Short Opportunities Fund		0.00%0.00%8.11%2.32%1.55%0.75%8.83%0.03%1.75%0.24%0.00%0.00%
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

HHCZX and CRIHX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CRIHX has higher volatility (5.21%) compared to HHCZX (3.14%). In terms of maximum drawdown, HHCZX dropped -33.57% vs CRIHX's -21.33%.

CRIHX currently has the higher Sharpe Ratio (1.19 vs -0.09), 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.

Portfolio Optimizer

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