IBMP vs HFRO

Comparison between ISHARES IBONDS DEC 2027 TERM MUNI BOND ETF (IBMP, ETF) and Highland Opportunities and Income Fund (HFRO, ETF).

5-Year PerformanceIBMP has outperformed HFRO, delivering a return of +0.6% compared to -3.0%

IBMP vs HFRO - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	IBMP(ETF)	HFRO(ETF)
Net Assets	$632M	$632M
Expense Ratio	0.18%	N/A
Max Drawdown	15.24%	72.48%
Sharpe Ratio	-0.57	1.58
5Y Beta	0.01	0.64
5Y Dividends CAGR	17.99%	-11.54%

Net Assets

IBMP

$632M

Winner

HFRO

$632M

Expense Ratio

IBMP

0.18%

HFRO

N/A

Max Drawdown

Winner

IBMP

15.24%

HFRO

72.48%

Sharpe Ratio

IBMP

-0.57

Winner

HFRO

1.58

5Y Beta

Winner

IBMP

0.01

HFRO

0.64

5Y Dividends CAGR

Winner

IBMP

17.99%

HFRO

-11.54%

IBMP vs HFRO - Historical Returns

Returns include dividend reinvestment.

Period	IBMP	HFRO
1 month	+0.25%	+10.15%
3 months	+0.27%	+13.45%
6 months	+1.30%	+14.26%
1 year	+3.05%	+40.24%
5 years(CAGR)	+0.61%	-3.00%
10 years(CAGR)	N/A	-1.54%
Max(CAGR)	+1.90%	-1.54%

IBMP

+0.25%

Winner

HFRO

+10.15%

IBMP

+0.27%

Winner

HFRO

+13.45%

IBMP

+1.30%

Winner

HFRO

+14.26%

IBMP

+3.05%

Winner

HFRO

+40.24%

5Y(CAGR)

Winner

IBMP

+0.61%

HFRO

-3.00%

10Y(CAGR)

IBMP

N/A

HFRO

-1.54%

Max(CAGR)

Winner

IBMP

+1.90%

HFRO

-1.54%

IBMP vs HFRO - Annual Returns (2017 - 2026)

Returns include dividend reinvestment.

Year	IBMP	HFRO
2026	+0.91%	+15.04%
2025	+3.36%	+22.68%
2024	+1.36%	-29.13%
2023	+3.22%	-16.57%
2022	-5.93%	+0.78%
2021	-0.14%	+14.90%
2020	+6.10%	-8.01%
2019	+4.88%	+2.92%
2018	N/A	-12.60%
2017	N/A	+1.01%

IBMP vs HFRO Drawdown Comparison

The maximum drawdown for IBMP was -15.24%, occurring on Mar 20, 2020. Recovery took 88 trading sessions.

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

The current HFRO drawdown is -22.35%.

Rank	IBMP	HFRO
#1	-15.24% Mar 9, 2020 - Jul 14, 2020	-52.76% Aug 17, 2022 - Apr 8, 2025
#2	-10.10% Feb 11, 2021 - Aug 1, 2025	-49.42% Jul 24, 2018 - Mar 29, 2022
#3	-2.24% Aug 15, 2019 - Jan 10, 2020	-9.70% May 6, 2022 - Aug 15, 2022
#4	-1.27% Aug 7, 2020 - Nov 20, 2020	-3.99% Nov 7, 2017 - Dec 22, 2017
#5	-0.59% Sep 18, 2025 - Dec 19, 2025	-2.92% Jan 31, 2018 - Feb 21, 2018
#6	-0.55% Mar 2, 2026 - Jun 4, 2026	-2.88% Feb 23, 2018 - Jul 11, 2018
#7	-0.44% Jan 6, 2021 - Jan 27, 2021	-2.01% Mar 31, 2022 - May 2, 2022
#8	-0.42% Jan 31, 2020 - Feb 19, 2020	-0.96% Dec 22, 2017 - Jan 4, 2018
#9	-0.32% Apr 11, 2019 - Apr 24, 2019	-0.96% Jan 9, 2018 - Jan 22, 2018
#10	-0.25% Feb 27, 2020 - Mar 6, 2020	-0.94% Jul 16, 2018 - Jul 24, 2018
#11	-0.24% Jun 3, 2019 - Jun 19, 2019	-0.76% Mar 29, 2022 - Mar 31, 2022
#12	-0.21% Jul 2, 2019 - Jul 9, 2019	-0.71% Jan 4, 2018 - Jan 9, 2018
#13	-0.20% Aug 8, 2019 - Aug 13, 2019	-0.67% May 4, 2022 - May 6, 2022
#14	-0.20% Jan 9, 2026 - Jan 20, 2026	-0.51% Jan 22, 2018 - Jan 29, 2018
#15	-0.16% Jun 19, 2019 - Jun 27, 2019	-0.31% Feb 21, 2018 - Feb 23, 2018

Correlation

Correlation between IBMP and HFRO is -0.41 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.41

-101