HHCZX vs. WTLS

Last updated Jun 4, 2026

HHCZX (NexPoint Event Driven Fund) and WTLS (WisdomTree Efficient Long/Short US Equity Fund) are both Long-Short funds. At a 0.49 correlation, their price movements are largely independent. HHCZX charges 1.69%/yr vs 0.88%/yr for WTLS.

Performance

HHCZX vs. WTLS - Performance Comparison

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

Returns By Period

HHCZX

• 1D: 0.00%
• 1M: 0.42%
• YTD: -4.23%
• 6M: -7.00%
• 1Y: 0.72%
• 3Y*: 4.92%
• 5Y*: -2.50%
• 10Y*: 3.67%

WTLS

• 1D: -1.04%
• 1M: 9.27%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HHCZX vs. WTLS - Yearly Performance Comparison

	2026 (YTD)
HHCZX NexPoint Event Driven Fund	-7.46%
WTLS WisdomTree Efficient Long/Short US Equity Fund	20.44%

Correlation

The correlation between HHCZX and WTLS is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 23, 2026	0.49

Return for Risk

HHCZX vs. WTLS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HHCZX

HHCZX Risk / Return Rank: 3
HHCZX Sharpe Ratio Rank: 3
HHCZX Sortino Ratio Rank: 3
HHCZX Omega Ratio Rank: 3
HHCZX Calmar Ratio Rank: 3
HHCZX Martin Ratio Rank: 3

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. WTLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NexPoint Event Driven Fund (HHCZX) and WisdomTree Efficient Long/Short US Equity Fund (WTLS). 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.

	HHCZX	WTLS	Difference
Sharpe ratio: Return per unit of total volatility	0.07	—	—
Sortino ratio: Return per unit of downside risk	0.28	—	—
Omega ratio: Gain probability vs. loss probability	1.04	—	—
Calmar ratio: Return relative to maximum drawdown	0.07	—	—
Martin ratio: Return relative to average drawdown	0.14	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HHCZX	WTLS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.07	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.24	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	3.67	-3.39

Drawdowns

HHCZX vs. WTLS - Drawdown Comparison

The maximum HHCZX drawdown since its inception was -33.57%, which is greater than WTLS's maximum drawdown of -8.94%. Use the drawdown chart below to compare losses from any high point for HHCZX and WTLS.

Drawdown Indicators

	HHCZX	WTLS	Difference
Max Drawdown Largest peak-to-trough decline	-33.57%	-8.94%	-24.63%
Max Drawdown (1Y) Largest decline over 1 year	-15.42%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.02%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.15%	—	—
Current Drawdown Current decline from peak	-15.96%	-1.04%	-14.92%
Average Drawdown Average peak-to-trough decline	-14.01%	-1.78%	-12.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.88%	—	—

Volatility

Volatility by Period

	HHCZX	WTLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.30%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.03%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.29%	18.47%	-2.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.68%	18.47%	-7.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.27%	18.47%	-2.20%

HHCZX vs. WTLS - Expense Ratio Comparison

HHCZX has a 1.69% expense ratio, which is higher than WTLS's 0.88% expense ratio.

Dividends

HHCZX vs. WTLS - Dividend Comparison

Neither HHCZX nor WTLS has paid dividends to shareholders.

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%
WTLS WisdomTree Efficient Long/Short US Equity Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HHCZX and WTLS in my portfolio?

HHCZX and WTLS have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.