IBMQ vs HFRO

Comparison between ISHARES IBONDS DEC 2028 TERM MUNI BOND ETF (IBMQ, ETF) and Highland Opportunities and Income Fund (HFRO, ETF).

5-Year PerformanceHFRO has outperformed IBMQ, delivering a return of +1.6% compared to +0.4%

IBMQ vs HFRO - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	IBMQ(ETF)	HFRO(ETF)
Net Assets	$653M	$654M
Expense Ratio	0.18%	N/A
Max Drawdown	15.85%	72.48%
Sharpe Ratio	-0.89	2.10
5Y Beta	0.03	0.62
5Y Dividends CAGR	15.19%	-11.54%

Net Assets

IBMQ

$653M

Winner

HFRO

$654M

Expense Ratio

IBMQ

0.18%

HFRO

N/A

Max Drawdown

Winner

IBMQ

15.85%

HFRO

72.48%

Sharpe Ratio

IBMQ

-0.89

Winner

HFRO

2.10

5Y Beta

Winner

IBMQ

0.03

HFRO

0.62

5Y Dividends CAGR

Winner

IBMQ

15.19%

HFRO

-11.54%

IBMQ vs HFRO - Historical Returns

Returns include dividend reinvestment.

Period	IBMQ	HFRO
1 month	+0.09%	+1.20%
3 months	+0.50%	+24.58%
6 months	+0.72%	+22.92%
1 year	+2.71%	+55.18%
5 years(CAGR)	+0.39%	+1.56%
10 years(CAGR)	N/A	-0.28%
Max(CAGR)	+2.00%	-0.28%

IBMQ

+0.09%

Winner

HFRO

+1.20%

IBMQ

+0.50%

Winner

HFRO

+24.58%

IBMQ

+0.72%

Winner

HFRO

+22.92%

IBMQ

+2.71%

Winner

HFRO

+55.18%

5Y(CAGR)

IBMQ

+0.39%

Winner

HFRO

+1.56%

10Y(CAGR)

IBMQ

N/A

HFRO

-0.28%

Max(CAGR)

Winner

IBMQ

+2.00%

HFRO

-0.28%

IBMQ vs HFRO - Annual Returns (2017 - 2026)

Returns include dividend reinvestment.

Year	IBMQ	HFRO
2026	+1.00%	+28.24%
2025	+3.96%	+22.68%
2024	+0.83%	-29.13%
2023	+3.77%	-16.57%
2022	-6.60%	+0.78%
2021	-0.23%	+14.90%
2020	+6.79%	-8.01%
2019	+5.39%	+2.92%
2018	N/A	-12.60%
2017	N/A	+1.01%

IBMQ vs HFRO Drawdown Comparison

The maximum drawdown for IBMQ was -15.85%, occurring on Mar 23, 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 IBMQ drawdown is -0.14%. The current HFRO drawdown is -13.44%.

Rank	IBMQ	HFRO
#1	-15.85% Mar 9, 2020 - Jul 14, 2020	-52.76% Aug 17, 2022 - Apr 8, 2025
#2	-11.60% Feb 11, 2021 - Sep 4, 2025	-49.42% Jul 24, 2018 - Mar 29, 2022
#3	-2.44% Aug 28, 2019 - Jan 14, 2020	-9.70% May 6, 2022 - Aug 15, 2022
#4	-1.87% Aug 7, 2020 - Dec 10, 2020	-3.99% Nov 7, 2017 - Dec 22, 2017
#5	-1.13% Feb 27, 2026 - Jun 25, 2026	-2.92% Jan 31, 2018 - Feb 21, 2018
#6	-0.87% Sep 18, 2025 - Jan 5, 2026	-2.88% Feb 23, 2018 - Jul 11, 2018
#7	-0.56% Jan 31, 2020 - Feb 20, 2020	-2.01% Mar 31, 2022 - May 2, 2022
#8	-0.40% Jan 6, 2021 - Jan 27, 2021	-0.96% Dec 22, 2017 - Jan 4, 2018
#9	-0.38% Aug 15, 2019 - Aug 28, 2019	-0.96% Jan 9, 2018 - Jan 22, 2018
#10	-0.26% Jun 3, 2019 - Jun 18, 2019	-0.94% Jul 16, 2018 - Jul 24, 2018
#11	-0.26% Feb 27, 2020 - Mar 6, 2020	-0.76% Mar 29, 2022 - Mar 31, 2022
#12	-0.23% Aug 12, 2019 - Aug 14, 2019	-0.71% Jan 4, 2018 - Jan 9, 2018
#13	-0.22% May 17, 2019 - May 23, 2019	-0.67% May 4, 2022 - May 6, 2022
#14	-0.20% May 7, 2019 - May 9, 2019	-0.51% Jan 22, 2018 - Jan 29, 2018
#15	-0.19% Jul 3, 2019 - Jul 9, 2019	-0.31% Feb 21, 2018 - Feb 23, 2018

Correlation

Correlation between IBMQ and HFRO is -0.36 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.36

-101