HFRO vs CLOZ

Comparison between Highland Opportunities and Income Fund (HFRO, ETF) and ELDRIDGE BBB-B CLO ETF (CLOZ, ETF).

HFRO vs CLOZ - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	HFRO(ETF)	CLOZ(ETF)
Net Assets	$632M	$632M
Expense Ratio	N/A	0.50%
Max Drawdown	72.48%	6.72%
Sharpe Ratio	1.58	0.76
5Y Beta	0.64	0.15
5Y Dividends CAGR	-11.54%	N/A

Net Assets

HFRO

$632M

CLOZ

$632M

Expense Ratio

HFRO

N/A

CLOZ

0.50%

Max Drawdown

HFRO

72.48%

Winner

CLOZ

6.72%

Sharpe Ratio

Winner

HFRO

1.58

CLOZ

0.76

5Y Beta

HFRO

0.64

Winner

CLOZ

0.15

5Y Dividends CAGR

HFRO

-11.54%

CLOZ

N/A

HFRO vs CLOZ - Historical Returns

Returns include dividend reinvestment.

Period	HFRO	CLOZ
1 month	+10.15%	+0.45%
3 months	+13.45%	+4.56%
6 months	+14.26%	+2.87%
1 year	+40.24%	+6.10%
5 years(CAGR)	-3.00%	N/A
10 years(CAGR)	-1.54%	N/A
Max(CAGR)	-1.54%	+10.40%

Winner

HFRO

+10.15%

CLOZ

+0.45%

Winner

HFRO

+13.45%

CLOZ

+4.56%

Winner

HFRO

+14.26%

CLOZ

+2.87%

Winner

HFRO

+40.24%

CLOZ

+6.10%

5Y(CAGR)

HFRO

-3.00%

CLOZ

N/A

10Y(CAGR)

HFRO

-1.54%

CLOZ

N/A

Max(CAGR)

HFRO

-1.54%

Winner

CLOZ

+10.40%

HFRO vs CLOZ - Annual Returns (2017 - 2026)

Returns include dividend reinvestment.

Year	HFRO	CLOZ
2026	+15.04%	+2.32%
2025	+22.68%	+5.89%
2024	-29.13%	+11.34%
2023	-16.57%	+14.91%
2022	+0.78%	N/A
2021	+14.90%	N/A
2020	-8.01%	N/A
2019	+2.92%	N/A
2018	-12.60%	N/A
2017	+1.01%	N/A

HFRO vs CLOZ Drawdown Comparison

The maximum drawdown for HFRO was -52.76%, occurring on Apr 8, 2025. This drawdown has not yet recovered.

The maximum drawdown for CLOZ was -5.32%, occurring on Apr 8, 2025. Recovery took 59 trading sessions.

The current HFRO drawdown is -22.35%. The current CLOZ drawdown is -0.25%.

Rank	HFRO	CLOZ
#1	-52.76% Aug 17, 2022 - Apr 8, 2025	-5.32% Feb 19, 2025 - May 14, 2025
#2	-49.42% Jul 24, 2018 - Mar 29, 2022	-3.90% Feb 3, 2026 - Apr 28, 2026
#3	-9.70% May 6, 2022 - Aug 15, 2022	-2.69% Feb 23, 2023 - Apr 10, 2023
#4	-3.99% Nov 7, 2017 - Dec 22, 2017	-1.38% Jul 29, 2024 - Aug 22, 2024
#5	-2.92% Jan 31, 2018 - Feb 21, 2018	-1.12% Oct 8, 2025 - Nov 26, 2025
#6	-2.88% Feb 23, 2018 - Jul 11, 2018	-0.59% May 1, 2023 - May 26, 2023
#7	-2.01% Mar 31, 2022 - May 2, 2022	-0.56% Dec 20, 2023 - Jan 2, 2024
#8	-0.96% Dec 22, 2017 - Jan 4, 2018	-0.43% May 29, 2025 - Jun 18, 2025
#9	-0.96% Jan 9, 2018 - Jan 22, 2018	-0.41% Jan 2, 2024 - Jan 10, 2024
#10	-0.94% Jul 16, 2018 - Jul 24, 2018	-0.41% Jun 23, 2025 - Jul 3, 2025
#11	-0.76% Mar 29, 2022 - Mar 31, 2022	-0.41% Sep 26, 2023 - Oct 17, 2023
#12	-0.71% Jan 4, 2018 - Jan 9, 2018	-0.38% Sep 23, 2024 - Oct 16, 2024
#13	-0.67% May 4, 2022 - May 6, 2022	-0.37% Sep 17, 2025 - Oct 3, 2025
#14	-0.51% Jan 22, 2018 - Jan 29, 2018	-0.34% Oct 17, 2023 - Nov 9, 2023
#15	-0.31% Feb 21, 2018 - Feb 23, 2018	-0.32% Apr 1, 2024 - Apr 8, 2024

Correlation

Correlation between HFRO and CLOZ is -0.54 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.54

-101