HHCZX vs. MNWIX
HHCZX (NexPoint Event Driven Fund) and MNWIX (MFS Managed Wealth Fund) are both Long-Short funds. Over the past 10 years, HHCZX returned 3.82%/yr vs 4.01%/yr for MNWIX. Their 0.32 correlation means their historical movements had little consistent relationship. HHCZX charges 1.69%/yr vs 0.67%/yr for MNWIX.
Performance
HHCZX vs. MNWIX - 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 MNWIX's 3.23% return. Both investments have delivered pretty close results over the past 10 years, with HHCZX having a 3.82% annualized return and MNWIX not far ahead at 4.01%.
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%
MNWIX
- 1D
- 0.36%
- 1M
- 1.25%
- 6M
- 3.07%
- YTD
- 3.23%
- 1Y
- 5.35%
- 3Y*
- 6.71%
- 5Y*
- 4.20%
- 10Y*
- 4.01%
- ALL TIME*
- 3.55%
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. MNWIX - 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% |
MNWIX MFS Managed Wealth Fund | 3.23% | 7.71% | 6.42% | 5.41% | -2.15% | 1.35% | 3.11% | 8.70% | 2.10% | 6.70% |
Correlation
The correlation between HHCZX and MNWIX is 0.48, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.48 |
Correlation (3Y) Balances recent behavior with more history. | 0.44 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.37 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2014 | 0.32 |
The correlation between HHCZX and MNWIX shifts across timeframes, from 0.28 (10 years) to 0.48 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HHCZX vs. MNWIX — Risk / Return Rank
HHCZX
MNWIX
HHCZX vs. MNWIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NexPoint Event Driven Fund (HHCZX) and MFS Managed Wealth Fund (MNWIX). 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 | MNWIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.14 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.10 | 0.85 | -0.95 |
| Martin ratioReturn relative to average drawdown | -0.16 | 3.37 | -3.53 |
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Drawdowns
HHCZX vs. MNWIX - Drawdown Comparison
The maximum HHCZX drawdown since its inception was -33.57%, which is greater than MNWIX's maximum drawdown of -5.57%. Use the drawdown chart below to compare losses from any high point for HHCZX and MNWIX.
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Drawdown Indicators
| HHCZX | MNWIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.57% | -5.57% | -28.00% |
Max Drawdown (1Y)Largest decline over 1 year | -15.42% | -5.57% | -9.85% |
Max Drawdown (3Y)Largest decline over 3 years | -15.42% | -5.57% | -9.85% |
Max Drawdown (5Y)Largest decline over 5 years | -19.51% | -5.57% | -13.94% |
Max Drawdown (10Y)Largest decline over 10 years | -32.15% | -5.57% | -26.58% |
Current DrawdownCurrent decline from peak | -15.71% | 0.00% | -15.71% |
Average DrawdownAverage peak-to-trough decline | -14.03% | -1.12% | -12.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.37% | 1.40% | +7.97% |
Volatility
HHCZX vs. MNWIX - Volatility Comparison
NexPoint Event Driven Fund (HHCZX) has a higher volatility of 3.13% compared to MFS Managed Wealth Fund (MNWIX) at 1.70%. This indicates that HHCZX's price experiences larger fluctuations and is considered to be riskier than MNWIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HHCZX | MNWIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 1.70% | +1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 7.95% | 4.87% | +3.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.77% | 6.03% | +10.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.14% | 4.15% | +5.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.29% | 3.90% | +12.39% |
HHCZX vs. MNWIX - Expense Ratio Comparison
HHCZX has a 1.69% expense ratio, which is higher than MNWIX's 0.67% expense ratio.
Dividends
HHCZX vs. MNWIX - Dividend Comparison
HHCZX has not paid dividends to shareholders, while MNWIX's dividend yield for the trailing twelve months is around 0.73%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
MNWIX MFS Managed Wealth Fund | 0.73% | 0.76% | 1.13% | 0.78% | 0.70% | 0.13% | 0.24% | 0.54% | 0.42% | 0.94% | 2.65% | 1.19% |
Frequently Asked Questions
HHCZX and MNWIX have a correlation of 0.48, 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 MNWIX (1.70%). In terms of maximum drawdown, HHCZX dropped -33.57% vs MNWIX's -5.57%.
MNWIX currently has the higher Sharpe Ratio (0.79 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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