HFRO vs ZALT
Comparison between Highland Opportunities and Income Fund (HFRO, ETF) and Innovator U.S. Equity 10 Buffer ETF - Quarterly (ZALT, ETF).
HFRO vs ZALT - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
HFRO
$632M
Winner
ZALT
$632M
Expense Ratio
HFRO
N/A
ZALT
0.69%
Max Drawdown
HFRO
72.48%
Winner
ZALT
8.19%
Sharpe Ratio
Winner
HFRO
1.58
ZALT
1.49
5Y Beta
HFRO
0.64
Winner
ZALT
0.38
5Y Dividends CAGR
HFRO
-11.54%
ZALT
N/A
HFRO vs ZALT - Historical Returns
Returns include dividend reinvestment.
1M
Winner
HFRO
+10.15%
ZALT
+0.79%
3M
Winner
HFRO
+13.45%
ZALT
+2.80%
6M
Winner
HFRO
+14.26%
ZALT
+3.78%
1Y
Winner
HFRO
+40.24%
ZALT
+10.26%
5Y(CAGR)
HFRO
-3.00%
ZALT
N/A
10Y(CAGR)
HFRO
-1.54%
ZALT
N/A
Max(CAGR)
HFRO
-1.54%
Winner
ZALT
+10.89%
HFRO vs ZALT - Annual Returns (2017 - 2026)
Returns include dividend reinvestment.
| Year | HFRO | ZALT |
|---|---|---|
| 2026 | +15.04% | +3.47% |
| 2025 | +22.68% | +9.19% |
| 2024 | -29.13% | +12.17% |
| 2023 | -16.57% | +3.95% |
| 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 ZALT 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 ZALT was -8.19%, occurring on Apr 8, 2025. Recovery took 59 trading sessions.
The current HFRO drawdown is -22.35%. The current ZALT drawdown is -0.12%.
| Rank | HFRO | ZALT |
|---|---|---|
| #1 | -52.76% Aug 17, 2022 - Apr 8, 2025 | -8.19% Feb 20, 2025 - May 15, 2025 |
| #2 | -49.42% Jul 24, 2018 - Mar 29, 2022 | -3.28% Jul 16, 2024 - Aug 16, 2024 |
| #3 | -9.70% May 6, 2022 - Aug 15, 2022 | -2.01% Oct 16, 2023 - Nov 3, 2023 |
| #4 | -3.99% Nov 7, 2017 - Dec 22, 2017 | -1.86% Mar 28, 2024 - May 9, 2024 |
| #5 | -2.92% Jan 31, 2018 - Feb 21, 2018 | -1.71% Feb 25, 2026 - Apr 8, 2026 |
| #6 | -2.88% Feb 23, 2018 - Jul 11, 2018 | -1.52% Nov 11, 2025 - Nov 26, 2025 |
| #7 | -2.01% Mar 31, 2022 - May 2, 2022 | -1.45% Aug 30, 2024 - Sep 12, 2024 |
| #8 | -0.96% Dec 22, 2017 - Jan 4, 2018 | -1.41% Dec 26, 2024 - Jan 22, 2025 |
| #9 | -0.96% Jan 9, 2018 - Jan 22, 2018 | -1.30% Oct 8, 2025 - Oct 20, 2025 |
| #10 | -0.94% Jul 16, 2018 - Jul 24, 2018 | -1.26% Dec 16, 2024 - Dec 26, 2024 |
| #11 | -0.76% Mar 29, 2022 - Mar 31, 2022 | -1.23% Dec 11, 2025 - Dec 22, 2025 |
| #12 | -0.71% Jan 4, 2018 - Jan 9, 2018 | -0.94% Dec 26, 2025 - Jan 26, 2026 |
| #13 | -0.67% May 4, 2022 - May 6, 2022 | -0.85% Feb 2, 2026 - Feb 11, 2026 |
| #14 | -0.51% Jan 22, 2018 - Jan 29, 2018 | -0.85% Oct 22, 2024 - Nov 6, 2024 |
| #15 | -0.31% Feb 21, 2018 - Feb 23, 2018 | -0.77% Jul 29, 2025 - Aug 8, 2025 |
Correlation
Correlation between HFRO and ZALT is 0.19 which considered as a very weak or no correlation - the stocks move independently of each other.
0.19
-101
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