HHCZX vs. GARIX
HHCZX (NexPoint Event Driven Fund) and GARIX (Gotham Absolute Return Fund) are both Long-Short funds. Over the past 10 years, HHCZX returned 3.82%/yr vs 9.75%/yr for GARIX. Their 0.41 correlation means their historical movements had little consistent relationship. HHCZX charges 1.69%/yr vs 1.50%/yr for GARIX.
Performance
HHCZX vs. GARIX - Performance Comparison
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Returns By Period
In the year-to-date period, HHCZX achieves a -3.95% return, which is significantly lower than GARIX's 11.69% return. Over the past 10 years, HHCZX has underperformed GARIX with an annualized return of 3.82%, while GARIX has yielded a comparatively higher 9.75% annualized return.
HHCZX
- 1D
- -0.24%
- 1M
- -1.35%
- 6M
- -5.08%
- YTD
- -3.95%
- 1Y
- -0.88%
- 3Y*
- 4.01%
- 5Y*
- 0.85%
- 10Y*
- 3.82%
- ALL TIME*
- 4.21%
GARIX
- 1D
- 0.33%
- 1M
- 2.04%
- 6M
- 8.70%
- YTD
- 11.69%
- 1Y
- 20.46%
- 3Y*
- 17.76%
- 5Y*
- 13.88%
- 10Y*
- 9.75%
- ALL TIME*
- 9.43%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
HHCZX vs. GARIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HHCZX NexPoint Event Driven Fund | -3.95% | 6.52% | 7.22% | 5.44% | -5.49% | -17.31% | 22.24% | 11.36% | 12.72% | 8.76% |
GARIX Gotham Absolute Return Fund | 11.69% | 16.18% | 20.46% | 17.70% | -5.04% | 26.87% | -6.19% | 11.50% | -4.86% | 10.01% |
Correlation
The correlation between HHCZX and GARIX is 0.38, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.38 |
Correlation (3Y) Balances recent behavior with more history. | 0.39 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.44 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.41 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2012 | 0.41 |
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Return for Risk
HHCZX vs. GARIX — Risk / Return Rank
HHCZX
GARIX
HHCZX vs. GARIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NexPoint Event Driven Fund (HHCZX) and Gotham Absolute Return Fund (GARIX). 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.
| HHCZX | GARIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.30 | ||
| Sortino ratioReturn per unit of downside risk | -3.13 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.38 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.10 | 5.06 | -5.16 |
| Martin ratioReturn relative to average drawdown | -0.16 | 18.62 | -18.78 |
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Drawdowns
HHCZX vs. GARIX - Drawdown Comparison
The maximum HHCZX drawdown since its inception was -33.57%, which is greater than GARIX's maximum drawdown of -26.49%. Use the drawdown chart below to compare losses from any high point for HHCZX and GARIX.
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Drawdown Indicators
| HHCZX | GARIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.57% | -26.49% | -7.08% |
Max Drawdown (1Y)Largest decline over 1 year | -15.42% | -3.85% | -11.57% |
Max Drawdown (3Y)Largest decline over 3 years | -15.42% | -23.15% | +7.73% |
Max Drawdown (5Y)Largest decline over 5 years | -19.51% | -23.15% | +3.64% |
Max Drawdown (10Y)Largest decline over 10 years | -32.15% | -26.49% | -5.66% |
Current DrawdownCurrent decline from peak | -15.71% | -0.08% | -15.63% |
Average DrawdownAverage peak-to-trough decline | -14.03% | -4.48% | -9.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.37% | 1.05% | +8.32% |
Volatility
HHCZX vs. GARIX - Volatility Comparison
NexPoint Event Driven Fund (HHCZX) has a higher volatility of 3.13% compared to Gotham Absolute Return Fund (GARIX) at 2.48%. This indicates that HHCZX's price experiences larger fluctuations and is considered to be riskier than GARIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HHCZX | GARIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 2.48% | +0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 7.95% | 7.04% | +0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.77% | 8.81% | +7.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.14% | 15.40% | -5.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.29% | 13.91% | +2.38% |
HHCZX vs. GARIX - Expense Ratio Comparison
HHCZX has a 1.69% expense ratio, which is higher than GARIX's 1.50% expense ratio.
Dividends
HHCZX vs. GARIX - Dividend Comparison
HHCZX has not paid dividends to shareholders, while GARIX's dividend yield for the trailing twelve months is around 6.42%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GARIX Gotham Absolute Return Fund | 6.42% | 7.18% | 18.74% | 5.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.36% |
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 GARIX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HHCZX has higher volatility (3.13%) compared to GARIX (2.48%). In terms of maximum drawdown, HHCZX dropped -33.57% vs GARIX's -26.49%.
GARIX currently has the higher Sharpe Ratio (2.21 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.
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