NXDT vs. NREF

Last updated Apr 1, 2026

Compare and contrast key facts about NexPoint Strategic Opportunities Fund (NXDT) and NexPoint Real Estate Finance, Inc. (NREF).

Performance

NXDT vs. NREF - Performance Comparison

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

NXDT vs. NREF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NXDT NexPoint Strategic Opportunities Fund	25.82%	-25.84%	-15.05%	-24.89%	-13.96%	-6.00%
NREF NexPoint Real Estate Finance, Inc.	-0.84%	2.28%	13.51%	17.36%	-8.90%	-5.44%

Fundamentals

Market Cap NXDT : $216.00M NREF : $656.92M
EPS NXDT : -$2.72 NREF : $2.43
PS Ratio NXDT : 2.52 NREF : 4.32
PB Ratio NXDT : 0.31 NREF : 1.69
Total Revenue (TTM) NXDT : $85.97M NREF : $137.38M
Gross Profit (TTM) NXDT : $79.71M NREF : $128.63M
EBITDA (TTM) NXDT : -$110.83M NREF : $171.37M

Returns By Period

In the year-to-date period, NXDT achieves a 25.82% return, which is significantly higher than NREF's -0.84% return.

NXDT

• 1D: 2.64%
• 1M: 4.94%
• YTD: 25.82%
• 6M: 38.28%
• 1Y: 44.11%
• 3Y*: -14.09%
• 5Y*: —
• 10Y*: —

NREF

• 1D: 0.67%
• 1M: -3.77%
• YTD: -0.84%
• 6M: 1.86%
• 1Y: 0.85%
• 3Y*: 9.52%
• 5Y*: 5.49%
• 10Y*: —

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

Return for Risk

NXDT vs. NREF — Risk / Return Rank

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

NXDT

NXDT Risk / Return Rank: 63
NXDT Sharpe Ratio Rank: 65
NXDT Sortino Ratio Rank: 64
NXDT Omega Ratio Rank: 60
NXDT Calmar Ratio Rank: 63
NXDT Martin Ratio Rank: 62

NREF

NREF Risk / Return Rank: 40
NREF Sharpe Ratio Rank: 42
NREF Sortino Ratio Rank: 36
NREF Omega Ratio Rank: 35
NREF Calmar Ratio Rank: 44
NREF Martin Ratio Rank: 44

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. NREF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NexPoint Strategic Opportunities Fund (NXDT) and NexPoint Real Estate Finance, Inc. (NREF). 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.

	NXDT	NREF	Difference
Sharpe ratio Return per unit of total volatility	0.68	0.03	+0.65
Sortino ratio Return per unit of downside risk	1.34	0.24	+1.11
Omega ratio Gain probability vs. loss probability	1.16	1.03	+0.13
Calmar ratio Return relative to maximum drawdown	0.99	0.09	+0.90
Martin ratio Return relative to average drawdown	2.22	0.23	+1.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NXDT vs. NREF - Sharpe Ratio Comparison

The current NXDT Sharpe Ratio is 0.68, which is higher than the NREF Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of NXDT and NREF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NXDT	NREF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.68	0.03	+0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.17	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.34	0.16	-0.50

Correlation

The correlation between NXDT and NREF is 0.36, 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

NXDT vs. NREF - Dividend Comparison

NXDT's dividend yield for the trailing twelve months is around 12.85%, less than NREF's 14.85% yield.

	TTM	2025	2024	2023	2022	2021	2020
NXDT NexPoint Strategic Opportunities Fund	12.85%	15.67%	9.84%	7.55%	5.35%	0.74%	0.00%
NREF NexPoint Real Estate Finance, Inc.	14.85%	14.20%	12.75%	17.40%	12.59%	9.87%	8.59%

Drawdowns

NXDT vs. NREF - Drawdown Comparison

The maximum NXDT drawdown since its inception was -79.33%, which is greater than NREF's maximum drawdown of -66.09%. Use the drawdown chart below to compare losses from any high point for NXDT and NREF.

Drawdown Indicators

	NXDT	NREF	Difference
Max Drawdown Largest peak-to-trough decline	-79.33%	-66.09%	-13.24%
Max Drawdown (1Y) Largest decline over 1 year	-46.65%	-14.80%	-31.85%
Max Drawdown (5Y) Largest decline over 5 years	—	-44.78%	—
Current Drawdown Current decline from peak	-60.94%	-10.35%	-50.59%
Average Drawdown Average peak-to-trough decline	-44.47%	-17.20%	-27.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.89%	6.68%	+14.21%

Volatility

NXDT vs. NREF - Volatility Comparison

NexPoint Strategic Opportunities Fund (NXDT) has a higher volatility of 16.69% compared to NexPoint Real Estate Finance, Inc. (NREF) at 8.66%. This indicates that NXDT's price experiences larger fluctuations and is considered to be riskier than NREF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NXDT	NREF	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.69%	8.66%	+8.03%
Volatility (6M) Calculated over the trailing 6-month period	49.95%	17.31%	+32.64%
Volatility (1Y) Calculated over the trailing 1-year period	65.41%	28.59%	+36.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.00%	33.24%	+11.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.00%	46.26%	-1.26%

Financials