HHCZX vs. WRAIX
HHCZX (NexPoint Event Driven Fund) and WRAIX (Wilmington Global Alpha Equities Fund) are both Long-Short funds. Over the past 10 years, HHCZX returned 3.82%/yr vs 5.41%/yr for WRAIX. Their 0.46 correlation means their historical movements had little consistent relationship. HHCZX charges 1.69%/yr vs 1.24%/yr for WRAIX.
Performance
HHCZX vs. WRAIX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HHCZX achieves a -3.95% return, which is significantly lower than WRAIX's 4.38% return. Over the past 10 years, HHCZX has underperformed WRAIX with an annualized return of 3.82%, while WRAIX has yielded a comparatively higher 5.41% 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%
WRAIX
- 1D
- -0.27%
- 1M
- 0.60%
- 6M
- 2.67%
- YTD
- 4.38%
- 1Y
- 7.86%
- 3Y*
- 8.06%
- 5Y*
- 5.31%
- 10Y*
- 5.41%
- ALL TIME*
- 4.15%
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. WRAIX - 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% |
WRAIX Wilmington Global Alpha Equities Fund | 4.38% | 9.13% | 7.74% | 7.73% | -3.41% | 6.52% | 1.04% | 12.34% | -2.67% | 9.75% |
Correlation
The correlation between HHCZX and WRAIX is 0.42, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.42 |
Correlation (3Y) Balances recent behavior with more history. | 0.47 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.52 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jan 13, 2012 | 0.46 |
The correlation between HHCZX and WRAIX has been stable across timeframes, ranging from 0.42 to 0.52 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HHCZX vs. WRAIX — Risk / Return Rank
HHCZX
WRAIX
HHCZX vs. WRAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NexPoint Event Driven Fund (HHCZX) and Wilmington Global Alpha Equities Fund (WRAIX). 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 | WRAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.27 | ||
| Sortino ratioReturn per unit of downside risk | -1.76 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.24 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.10 | 1.46 | -1.56 |
| Martin ratioReturn relative to average drawdown | -0.16 | 6.06 | -6.22 |
Loading charts...
Drawdowns
HHCZX vs. WRAIX - Drawdown Comparison
The maximum HHCZX drawdown since its inception was -33.57%, which is greater than WRAIX's maximum drawdown of -15.44%. Use the drawdown chart below to compare losses from any high point for HHCZX and WRAIX.
Loading charts...
Drawdown Indicators
| HHCZX | WRAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.57% | -15.44% | -18.13% |
Max Drawdown (1Y)Largest decline over 1 year | -15.42% | -5.03% | -10.39% |
Max Drawdown (3Y)Largest decline over 3 years | -15.42% | -5.03% | -10.39% |
Max Drawdown (5Y)Largest decline over 5 years | -19.51% | -9.24% | -10.27% |
Max Drawdown (10Y)Largest decline over 10 years | -32.15% | -15.44% | -16.71% |
Current DrawdownCurrent decline from peak | -15.71% | -0.27% | -15.44% |
Average DrawdownAverage peak-to-trough decline | -14.03% | -1.96% | -12.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.37% | 1.21% | +8.16% |
Volatility
HHCZX vs. WRAIX - Volatility Comparison
NexPoint Event Driven Fund (HHCZX) has a higher volatility of 3.13% compared to Wilmington Global Alpha Equities Fund (WRAIX) at 1.40%. This indicates that HHCZX's price experiences larger fluctuations and is considered to be riskier than WRAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HHCZX | WRAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 1.40% | +1.73% |
Volatility (6M)Calculated over the trailing 6-month period | 7.95% | 5.11% | +2.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.77% | 6.25% | +10.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.14% | 6.52% | +3.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.29% | 6.76% | +9.53% |
HHCZX vs. WRAIX - Expense Ratio Comparison
HHCZX has a 1.69% expense ratio, which is higher than WRAIX's 1.24% expense ratio.
Dividends
HHCZX vs. WRAIX - Dividend Comparison
HHCZX has not paid dividends to shareholders, while WRAIX's dividend yield for the trailing twelve months is around 0.17%.
| 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% |
WRAIX Wilmington Global Alpha Equities Fund | 0.17% | 0.17% | 1.47% | 1.31% | 2.77% | 0.52% | 1.98% | 1.15% | 1.25% | 1.15% | 0.30% | 2.38% |
Frequently Asked Questions
HHCZX and WRAIX have a correlation of 0.42, 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 WRAIX (1.40%). In terms of maximum drawdown, HHCZX dropped -33.57% vs WRAIX's -15.44%.
WRAIX currently has the higher Sharpe Ratio (1.18 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.
Find the right allocation for HHCZX and WRAIX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer