HFRO vs SMDV

Comparison between Highland Opportunities and Income Fund (HFRO, ETF) and PROSHARES RUSSELL 2000 DIVIDEND GROWERS ETF (SMDV, ETF).

5-Year PerformanceSMDV has outperformed HFRO, delivering a return of +6.0% compared to +0.9%

HFRO vs SMDV - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	HFRO(ETF)	SMDV(ETF)
Net Assets	$656M	$655M
Expense Ratio	N/A	0.40%
Max Drawdown	72.48%	34.45%
Sharpe Ratio	1.93	1.03
5Y Beta	0.62	0.66
P/E Ratio	N/A	20.82
Forward P/E	N/A	15.97
PEG Ratio	N/A	0.27
5Y Dividends CAGR	-11.54%	7.95%
5Y EPS CAGR	N/A	5.83%
Debt to Equity	N/A	82.42%

Net Assets

Winner

HFRO

$656M

SMDV

$655M

Expense Ratio

HFRO

N/A

SMDV

0.40%

Max Drawdown

HFRO

72.48%

Winner

SMDV

34.45%

Sharpe Ratio

Winner

HFRO

1.93

SMDV

1.03

5Y Beta

Winner

HFRO

0.62

SMDV

0.66

P/E Ratio

HFRO

N/A

SMDV

20.82

Forward P/E

HFRO

N/A

SMDV

15.97

PEG Ratio

HFRO

N/A

SMDV

0.27

5Y Dividends CAGR

HFRO

-11.54%

Winner

SMDV

7.95%

5Y EPS CAGR

HFRO

N/A

SMDV

5.83%

Debt to Equity

HFRO

N/A

SMDV

82.42%

HFRO vs SMDV - Historical Returns

Returns include dividend reinvestment.

Period	HFRO	SMDV
1 month	+18.79%	+5.02%
3 months	+28.65%	+11.18%
6 months	+24.63%	+9.70%
1 year	+51.45%	+20.41%
5 years(CAGR)	+0.86%	+6.04%
10 years(CAGR)	-0.52%	+7.47%
Max(CAGR)	-0.52%	+8.02%

Winner

HFRO

+18.79%

SMDV

+5.02%

Winner

HFRO

+28.65%

SMDV

+11.18%

Winner

HFRO

+24.63%

SMDV

+9.70%

Winner

HFRO

+51.45%

SMDV

+20.41%

5Y(CAGR)

HFRO

+0.86%

Winner

SMDV

+6.04%

10Y(CAGR)

HFRO

-0.52%

Winner

SMDV

+7.47%

Max(CAGR)

HFRO

-0.52%

Winner

SMDV

+8.02%

HFRO vs SMDV - Annual Returns (2015 - 2026)

Returns include dividend reinvestment.

Year	HFRO	SMDV
2026	+25.68%	+13.31%
2025	+22.68%	+1.71%
2024	-29.13%	+7.13%
2023	-16.57%	+8.64%
2022	+0.78%	-6.23%
2021	+14.90%	+20.72%
2020	-8.01%	-4.26%
2019	+2.92%	+18.00%
2018	-12.60%	-0.91%
2017	+1.01%	+5.11%
2016	N/A	+38.82%
2015	N/A	+2.43%

HFRO vs SMDV 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 SMDV was -34.12%, occurring on Mar 23, 2020. Recovery took 251 trading sessions.

The current HFRO drawdown is -15.17%. The current SMDV drawdown is -0.64%.

Rank	HFRO	SMDV
#1	-52.76% Aug 17, 2022 - Apr 8, 2025	-34.12% Jan 16, 2020 - Jan 14, 2021
#2	-49.42% Jul 24, 2018 - Mar 29, 2022	-21.23% Nov 25, 2024 - Feb 6, 2026
#3	-9.70% May 6, 2022 - Aug 15, 2022	-18.49% Feb 3, 2023 - Dec 19, 2023
#4	-3.99% Nov 7, 2017 - Dec 22, 2017	-16.64% Jan 4, 2022 - Feb 2, 2023
#5	-2.92% Jan 31, 2018 - Feb 21, 2018	-13.52% Sep 21, 2018 - Feb 19, 2019
#6	-2.88% Feb 23, 2018 - Jul 11, 2018	-11.18% Mar 12, 2021 - Nov 5, 2021
#7	-2.01% Mar 31, 2022 - May 2, 2022	-10.59% Nov 29, 2017 - Jun 15, 2018
#8	-0.96% Dec 22, 2017 - Jan 4, 2018	-9.96% Dec 26, 2023 - Jul 15, 2024
#9	-0.96% Jan 9, 2018 - Jan 22, 2018	-9.79% Feb 13, 2026 - Jun 9, 2026
#10	-0.94% Jul 16, 2018 - Jul 24, 2018	-8.76% Nov 27, 2015 - Mar 3, 2016
#11	-0.76% Mar 29, 2022 - Mar 31, 2022	-8.60% Jun 23, 2015 - Oct 28, 2015
#12	-0.71% Jan 4, 2018 - Jan 9, 2018	-8.59% Jul 26, 2024 - Nov 6, 2024
#13	-0.67% May 4, 2022 - May 6, 2022	-7.65% Nov 11, 2021 - Jan 4, 2022
#14	-0.51% Jan 22, 2018 - Jan 29, 2018	-6.58% Jul 30, 2019 - Sep 11, 2019
#15	-0.31% Feb 21, 2018 - Feb 23, 2018	-5.84% Apr 26, 2017 - Jun 13, 2017

Correlation

Correlation between HFRO and SMDV is -0.27 which considered as a very weak or no correlation - the stocks move independently of each other.

-0.27

-101

Dividend Comparison (2015 - 2026)

HFRO vs SMDV dividend yield comparison.

Year	HFRO	SMDV
2026	2.63%	0.48%
2025	7.73%	2.67%
2024	8.90%	2.68%
2023	12.02%	2.69%
2022	8.97%	2.51%
2021	8.41%	2.02%
2020	8.99%	2.13%
2019	7.43%	2.03%
2018	7.22%	1.97%
2017	0.99%	1.84%
2016	0.00%	1.35%
2015	0.00%	1.81%