HMEZX vs. VBR
Compare and contrast key facts about NexPoint Merger Arbitrage Fund (HMEZX) and Vanguard Small-Cap Value ETF (VBR).
HMEZX is managed by Highland Funds. It was launched on Aug 18, 2016. VBR is a passively managed fund by Vanguard that tracks the performance of the CRSP US Small Cap Value Index. It was launched on Jan 26, 2004.
Performance
HMEZX vs. VBR - Performance Comparison
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HMEZX vs. VBR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HMEZX NexPoint Merger Arbitrage Fund | 0.81% | 6.30% | 7.42% | 4.10% | 2.70% | 5.37% | 8.46% | 8.10% | 5.92% | 5.48% |
VBR Vanguard Small-Cap Value ETF | 3.59% | 9.09% | 12.40% | 16.00% | -9.38% | 28.08% | 5.90% | 22.78% | -12.28% | 11.81% |
Returns By Period
In the year-to-date period, HMEZX achieves a 0.81% return, which is significantly lower than VBR's 3.59% return. Over the past 10 years, HMEZX has underperformed VBR with an annualized return of 5.89%, while VBR has yielded a comparatively higher 10.14% annualized return.
HMEZX
- 1D
- 0.15%
- 1M
- 0.46%
- YTD
- 0.81%
- 6M
- 2.14%
- 1Y
- 5.71%
- 3Y*
- 6.42%
- 5Y*
- 4.92%
- 10Y*
- 5.89%
VBR
- 1D
- 0.41%
- 1M
- -4.79%
- YTD
- 3.59%
- 6M
- 5.25%
- 1Y
- 19.13%
- 3Y*
- 13.58%
- 5Y*
- 7.64%
- 10Y*
- 10.14%
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HMEZX vs. VBR - Expense Ratio Comparison
HMEZX has a 1.50% expense ratio, which is higher than VBR's 0.07% expense ratio.
Return for Risk
HMEZX vs. VBR — Risk / Return Rank
HMEZX
VBR
HMEZX vs. VBR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NexPoint Merger Arbitrage Fund (HMEZX) and Vanguard Small-Cap Value ETF (VBR). 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.
| HMEZX | VBR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.60 | 0.93 | +2.67 |
Sortino ratioReturn per unit of downside risk | 5.64 | 1.43 | +4.21 |
Omega ratioGain probability vs. loss probability | 1.96 | 1.19 | +0.77 |
Calmar ratioReturn relative to maximum drawdown | 5.53 | 1.37 | +4.16 |
Martin ratioReturn relative to average drawdown | 35.87 | 5.62 | +30.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HMEZX | VBR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.60 | 0.93 | +2.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.94 | 0.39 | +2.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.54 | 0.47 | +1.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.59 | 0.40 | +1.18 |
Correlation
The correlation between HMEZX and VBR is 0.27, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
HMEZX vs. VBR - Dividend Comparison
HMEZX's dividend yield for the trailing twelve months is around 5.07%, more than VBR's 1.90% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HMEZX NexPoint Merger Arbitrage Fund | 5.07% | 5.04% | 6.36% | 5.07% | 5.11% | 3.63% | 5.83% | 0.33% | 19.16% | 6.88% | 0.02% | 0.00% |
VBR Vanguard Small-Cap Value ETF | 1.90% | 1.95% | 1.98% | 2.12% | 2.03% | 1.75% | 1.68% | 2.06% | 2.35% | 1.79% | 1.77% | 1.99% |
Drawdowns
HMEZX vs. VBR - Drawdown Comparison
The maximum HMEZX drawdown since its inception was -6.86%, smaller than the maximum VBR drawdown of -61.98%. Use the drawdown chart below to compare losses from any high point for HMEZX and VBR.
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Drawdown Indicators
| HMEZX | VBR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.86% | -61.98% | +55.12% |
Max Drawdown (1Y)Largest decline over 1 year | -1.06% | -14.18% | +13.12% |
Max Drawdown (5Y)Largest decline over 5 years | -1.94% | -24.19% | +22.25% |
Max Drawdown (10Y)Largest decline over 10 years | -6.86% | -45.28% | +38.42% |
Current DrawdownCurrent decline from peak | 0.00% | -5.75% | +5.75% |
Average DrawdownAverage peak-to-trough decline | -0.38% | -8.32% | +7.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.16% | 3.46% | -3.30% |
Volatility
HMEZX vs. VBR - Volatility Comparison
The current volatility for NexPoint Merger Arbitrage Fund (HMEZX) is 0.46%, while Vanguard Small-Cap Value ETF (VBR) has a volatility of 5.40%. This indicates that HMEZX experiences smaller price fluctuations and is considered to be less risky than VBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HMEZX | VBR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.46% | 5.40% | -4.94% |
Volatility (6M)Calculated over the trailing 6-month period | 0.97% | 11.29% | -10.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.61% | 20.64% | -19.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.68% | 19.85% | -18.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.84% | 21.73% | -17.89% |