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HICOX vs. NVDA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HICOX vs. NVDA

Last updated Jun 23, 2026

HICOX (Colorado Bond Shares A Tax Exempt Fund) is Municipal Bonds fund managed by Freedom Funds, while NVDA (NVIDIA Corporation) is a stock. Over the past 10 years, HICOX returned 4.15%/yr vs 68.65%/yr for NVDA. At a correlation of -0.01, they often move in opposite directions.

Performance

HICOX vs. NVDA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Colorado Bond Shares A Tax Exempt Fund (HICOX) and NVIDIA Corporation (NVDA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HICOX achieves a 2.68% return, which is significantly lower than NVDA's 12.01% return. Over the past 10 years, HICOX has underperformed NVDA with an annualized return of 4.15%, while NVDA has yielded a comparatively higher 68.65% annualized return.

HICOX

1D
0.00%
1M
1.33%
YTD
2.68%
6M
2.80%
1Y
6.68%
3Y*
6.15%
5Y*
3.11%
10Y*
4.15%

NVDA

1D
-0.97%
1M
-2.99%
YTD
12.01%
6M
13.73%
1Y
45.24%
3Y*
70.46%
5Y*
61.50%
10Y*
68.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HICOX vs. NVDA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HICOX
Colorado Bond Shares A Tax Exempt Fund		2.68%4.36%8.64%5.10%-6.14%4.44%4.69%6.42%4.64%5.63%
NVDA
NVIDIA Corporation		12.01%38.92%171.25%239.02%-50.26%125.48%122.30%76.94%-30.82%81.99%

Correlation

The correlation between HICOX and NVDA is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

0.04

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

0.03

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

0.05

Correlation (10Y)
Calculated over the trailing 10-year period

0.05

Correlation (All Time)
Calculated using the full available price history since Jan 22, 1999

-0.01

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Colorado Bond Shares A Tax Exempt Fund

NVIDIA Corporation

Often compared with HICOX:
HICOX vs. ENIAXHICOX vs. DBSCXHICOX vs. FCOTXHICOX vs. VTEBHICOX vs. SCHDHICOX vs. HYDHICOX vs. KMLM
Often compared with NVDA:
NVDA vs. AMDNVDA vs. AAPLNVDA vs. AVGONVDA vs. TSMNVDA vs. SPYNVDA vs. AMZNNVDA vs. QQQ

Return for Risk

HICOX vs. NVDA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HICOX
HICOX Risk / Return Rank: 9797
Overall Rank
HICOX Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
HICOX Sortino Ratio Rank: 9898
Sortino Ratio Rank
HICOX Omega Ratio Rank: 9797
Omega Ratio Rank
HICOX Calmar Ratio Rank: 9797
Calmar Ratio Rank
HICOX Martin Ratio Rank: 9797
Martin Ratio Rank
NVDA
NVDA Risk / Return Rank: 7676
Overall Rank
NVDA Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
NVDA Sortino Ratio Rank: 7474
Sortino Ratio Rank
NVDA Omega Ratio Rank: 7171
Omega Ratio Rank
NVDA Calmar Ratio Rank: 7878
Calmar Ratio Rank
NVDA Martin Ratio Rank: 7878
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.

HICOX vs. NVDA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Colorado Bond Shares A Tax Exempt Fund (HICOX) and NVIDIA Corporation (NVDA). 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.

HICOXNVDADifference
Sharpe ratioReturn per unit of total volatility
3.18
1.29

+1.89

Sortino ratioReturn per unit of downside risk
5.83
1.86

+3.97

Omega ratioGain probability vs. loss probability

2.00

1.22

+0.78

Calmar ratioReturn relative to maximum drawdown

6.39

2.25

+4.14

Martin ratioReturn relative to average drawdown

24.44

5.27

+19.17

HICOX vs. NVDA - Sharpe Ratio Comparison

The current HICOX Sharpe Ratio is 3.18, which is higher than the NVDA Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of HICOX and NVDA, 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

HICOX vs. NVDA - Drawdown Comparison

The maximum HICOX drawdown since its inception was -11.00%, smaller than the maximum NVDA drawdown of -89.72%. Use the drawdown chart below to compare losses from any high point for HICOX and NVDA.

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Drawdown Indicators

HICOXNVDADifference

Max Drawdown

Largest peak-to-trough decline

-11.00%

-89.72%

+78.72%

Max Drawdown (1Y)

Largest decline over 1 year

-1.10%

-20.21%

+19.11%

Max Drawdown (3Y)

Largest decline over 3 years

-4.45%

-36.88%

+32.43%

Max Drawdown (5Y)

Largest decline over 5 years

-9.66%

-66.34%

+56.68%

Max Drawdown (10Y)

Largest decline over 10 years

-9.66%

-66.34%

+56.68%

Current Drawdown

Current decline from peak

0.00%

-11.39%

+11.39%

Average Drawdown

Average peak-to-trough decline

-2.56%

-36.16%

+33.60%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.28%

8.61%

-8.33%

Volatility

HICOX vs. NVDA - Volatility Comparison

The current volatility for Colorado Bond Shares A Tax Exempt Fund (HICOX) is 0.65%, while NVIDIA Corporation (NVDA) has a volatility of 12.78%. This indicates that HICOX experiences smaller price fluctuations and is considered to be less risky than NVDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HICOXNVDADifference

Volatility (1M)

Calculated over the trailing 1-month period

0.65%

12.78%

-12.13%

Volatility (6M)

Calculated over the trailing 6-month period

1.64%

26.61%

-24.97%

Volatility (1Y)

Calculated over the trailing 1-year period

2.20%

35.31%

-33.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.55%

51.80%

-48.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.09%

49.89%

-46.80%

Dividends

HICOX vs. NVDA - Dividend Comparison

HICOX's dividend yield for the trailing twelve months is around 4.29%, more than NVDA's 0.13% yield.

PositionTTM20252024202320222021202020192018201720162015
HICOX
Colorado Bond Shares A Tax Exempt Fund		4.29%3.98%6.34%2.53%2.85%3.60%3.64%4.11%4.54%4.56%5.49%4.32%
NVDA
NVIDIA Corporation		0.13%0.02%0.03%0.03%0.11%0.05%0.12%0.27%0.46%0.29%0.45%1.20%

Frequently Asked Questions

HICOX and NVDA have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NVDA has higher volatility (12.78%) compared to HICOX (0.65%). In terms of maximum drawdown, HICOX dropped -11.00% vs NVDA's -89.72%.

HICOX currently has the higher Sharpe Ratio (3.18 vs 1.29), 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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