NXDT vs. CBL

Last updated Jun 23, 2026

NXDT (NexPoint Strategic Opportunities Fund) and CBL (CBL & Associates Properties, Inc.) are both stocks. Over the past 3 years, NXDT returned -15.89%/yr vs 41.88%/yr for CBL. At a 0.35 correlation, their price movements are largely independent.

Performance

NXDT vs. CBL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NexPoint Strategic Opportunities Fund (NXDT) and CBL & Associates Properties, Inc. (CBL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NXDT achieves a 22.49% return, which is significantly lower than CBL's 37.96% return.

NXDT

• 1D: -2.65%
• 1M: -4.55%
• YTD: 22.49%
• 6M: 19.67%
• 1Y: 32.89%
• 3Y*: -15.89%
• 5Y*: —
• 10Y*: —

CBL

• 1D: 4.64%
• 1M: 6.35%
• YTD: 37.96%
• 6M: 36.96%
• 1Y: 105.93%
• 3Y*: 41.88%
• 5Y*: —
• 10Y*: —

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

NXDT vs. CBL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NXDT NexPoint Strategic Opportunities Fund	22.49%	-25.84%	-15.05%	-24.89%	-13.96%	-6.32%
CBL CBL & Associates Properties, Inc.	37.96%	37.21%	28.52%	12.96%	-17.96%	-4.00%

Correlation

The correlation between NXDT and CBL is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (All Time) Calculated using the full available price history since Nov 8, 2021	0.35

The correlation between NXDT and CBL shifts across timeframes, from 0.22 (1 year) to 0.35 (3 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap NXDT : $203.97M CBL : $1.52B
EPS NXDT : -$2.72 CBL : $5.57
PS Ratio NXDT : 2.38 CBL : 2.64
PB Ratio NXDT : 0.29 CBL : 3.82
Total Revenue (TTM) NXDT : $85.97M CBL : $582.57M
Gross Profit (TTM) NXDT : $79.71M CBL : $139.43M
EBITDA (TTM) NXDT : -$110.83M CBL : $413.31M

Return for Risk

NXDT vs. CBL — Risk / Return Rank

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

NXDT

NXDT Risk / Return Rank: 58
NXDT Sharpe Ratio Rank: 60
NXDT Sortino Ratio Rank: 60
NXDT Omega Ratio Rank: 56
NXDT Calmar Ratio Rank: 58
NXDT Martin Ratio Rank: 58

CBL

CBL Risk / Return Rank: 97
CBL Sharpe Ratio Rank: 97
CBL Sortino Ratio Rank: 97
CBL Omega Ratio Rank: 96
CBL Calmar Ratio Rank: 97
CBL Martin Ratio Rank: 98

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.

NXDT vs. CBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NexPoint Strategic Opportunities Fund (NXDT) and CBL & Associates Properties, Inc. (CBL). 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.

	NXDT	CBL	Difference
Sharpe ratio: Return per unit of total volatility	0.54	3.92	-3.38
Sortino ratio: Return per unit of downside risk	1.17	4.82	-3.65
Omega ratio: Gain probability vs. loss probability	1.14	1.59	-0.46
Calmar ratio: Return relative to maximum drawdown	0.71	8.61	-7.90
Martin ratio: Return relative to average drawdown	1.60	28.92	-27.32

NXDT vs. CBL - Sharpe Ratio Comparison

The current NXDT Sharpe Ratio is 0.54, which is lower than the CBL Sharpe Ratio of 3.92. The chart below compares the historical Sharpe Ratios of NXDT and CBL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NXDT vs. CBL - Drawdown Comparison

The maximum NXDT drawdown since its inception was -79.33%, which is greater than CBL's maximum drawdown of -34.02%. Use the drawdown chart below to compare losses from any high point for NXDT and CBL.

Drawdown Indicators

	NXDT	CBL	Difference
Max Drawdown Largest peak-to-trough decline	-79.33%	-34.02%	-45.31%
Max Drawdown (1Y) Largest decline over 1 year	-46.65%	-12.31%	-34.34%
Max Drawdown (3Y) Largest decline over 3 years	-73.14%	-29.14%	-44.00%
Current Drawdown Current decline from peak	-61.97%	-0.20%	-61.77%
Average Drawdown Average peak-to-trough decline	-45.12%	-12.37%	-32.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.59%	3.66%	+16.93%

Volatility

NXDT vs. CBL - Volatility Comparison

NexPoint Strategic Opportunities Fund (NXDT) has a higher volatility of 16.36% compared to CBL & Associates Properties, Inc. (CBL) at 8.46%. This indicates that NXDT's price experiences larger fluctuations and is considered to be riskier than CBL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NXDT	CBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.36%	8.46%	+7.90%
Volatility (6M) Calculated over the trailing 6-month period	43.76%	20.37%	+23.39%
Volatility (1Y) Calculated over the trailing 1-year period	61.76%	27.09%	+34.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.20%	32.36%	+12.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.20%	32.36%	+12.84%

Dividends

NXDT vs. CBL - Dividend Comparison

NXDT's dividend yield for the trailing twelve months is around 13.61%, more than CBL's 4.33% yield.

Position	TTM	2025	2024	2023	2022	2021
CBL CBL & Associates Properties, Inc.	4.33%	6.76%	5.44%	6.14%	12.78%	0.00%
NXDT NexPoint Strategic Opportunities Fund	13.61%	15.67%	9.84%	7.55%	5.35%	0.74%

Financials

Frequently Asked Questions

Can I hold both NXDT and CBL in my portfolio?

NXDT and CBL have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NXDT or CBL?

NXDT has higher volatility (16.36%) compared to CBL (8.46%). In terms of maximum drawdown, NXDT dropped -79.33% vs CBL's -34.02%.

Which has better risk-adjusted returns?

CBL currently has the higher Sharpe Ratio (3.92 vs 0.54), 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.