ISCF vs HFRO

Comparison between ISHARES INTERNATIONAL SMALL-CAP EQUITY FACTOR ETF (ISCF, ETF) and Highland Opportunities and Income Fund (HFRO, ETF).

5-Year PerformanceISCF has outperformed HFRO, delivering a return of +6.9% compared to -3.0%

ISCF vs HFRO - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	ISCF(ETF)	HFRO(ETF)
Net Assets	$633M	$632M
Expense Ratio	0.24%	N/A
Max Drawdown	43.64%	72.48%
Sharpe Ratio	1.04	1.58
5Y Beta	0.71	0.64
5Y Dividends CAGR	14.05%	-11.54%

Net Assets

Winner

ISCF

$633M

HFRO

$632M

Expense Ratio

ISCF

0.24%

HFRO

N/A

Max Drawdown

Winner

ISCF

43.64%

HFRO

72.48%

Sharpe Ratio

ISCF

1.04

Winner

HFRO

1.58

5Y Beta

ISCF

0.71

Winner

HFRO

0.64

5Y Dividends CAGR

Winner

ISCF

14.05%

HFRO

-11.54%

ISCF vs HFRO - Historical Returns

Returns include dividend reinvestment.

Period	ISCF	HFRO
1 month	-1.25%	+10.15%
3 months	+0.69%	+13.45%
6 months	+7.72%	+14.26%
1 year	+19.24%	+40.24%
5 years(CAGR)	+6.92%	-3.00%
10 years(CAGR)	+9.02%	-1.54%
Max(CAGR)	+8.33%	-1.54%

ISCF

-1.25%

Winner

HFRO

+10.15%

ISCF

+0.69%

Winner

HFRO

+13.45%

ISCF

+7.72%

Winner

HFRO

+14.26%

ISCF

+19.24%

Winner

HFRO

+40.24%

5Y(CAGR)

Winner

ISCF

+6.92%

HFRO

-3.00%

10Y(CAGR)

Winner

ISCF

+9.02%

HFRO

-1.54%

Max(CAGR)

Winner

ISCF

+8.33%

HFRO

-1.54%

ISCF vs HFRO - Annual Returns (2015 - 2026)

Returns include dividend reinvestment.

Year	ISCF	HFRO
2026	+4.62%	+15.04%
2025	+34.44%	+22.68%
2024	+6.29%	-29.13%
2023	+11.76%	-16.57%
2022	-15.12%	+0.78%
2021	+12.61%	+14.90%
2020	+6.63%	-8.01%
2019	+26.29%	+2.92%
2018	-19.49%	-12.60%
2017	+37.47%	+1.01%
2016	-1.26%	N/A
2015	+1.67%	N/A

ISCF vs HFRO Drawdown Comparison

The maximum drawdown for ISCF was -40.80%, occurring on Mar 23, 2020. Recovery took 720 trading sessions.

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

The current ISCF drawdown is -4.28%. The current HFRO drawdown is -22.35%.

Rank	ISCF	HFRO
#1	-40.80% Jan 26, 2018 - Dec 4, 2020	-52.76% Aug 17, 2022 - Apr 8, 2025
#2	-30.65% Sep 3, 2021 - Sep 19, 2024	-49.42% Jul 24, 2018 - Mar 29, 2022
#3	-17.18% Jul 9, 2015 - Sep 26, 2016	-9.70% May 6, 2022 - Aug 15, 2022
#4	-13.25% Mar 19, 2025 - Apr 24, 2025	-3.99% Nov 7, 2017 - Dec 22, 2017
#5	-11.34% Feb 26, 2026 - Mar 27, 2026	-2.92% Jan 31, 2018 - Feb 21, 2018
#6	-9.19% Sep 26, 2024 - Mar 17, 2025	-2.88% Feb 23, 2018 - Jul 11, 2018
#7	-7.97% Sep 28, 2016 - Feb 3, 2017	-2.01% Mar 31, 2022 - May 2, 2022
#8	-6.33% Oct 6, 2025 - Dec 11, 2025	-0.96% Dec 22, 2017 - Jan 4, 2018
#9	-6.17% May 22, 2015 - Jul 9, 2015	-0.96% Jan 9, 2018 - Jan 22, 2018
#10	-4.82% Feb 16, 2021 - Mar 17, 2021	-0.94% Jul 16, 2018 - Jul 24, 2018
#11	-4.11% Jun 14, 2021 - Jul 26, 2021	-0.76% Mar 29, 2022 - Mar 31, 2022
#12	-3.92% May 7, 2021 - May 28, 2021	-0.71% Jan 4, 2018 - Jan 9, 2018
#13	-3.53% Jul 23, 2025 - Aug 12, 2025	-0.67% May 4, 2022 - May 6, 2022
#14	-3.10% Jan 21, 2021 - Feb 5, 2021	-0.51% Jan 22, 2018 - Jan 29, 2018
#15	-3.09% Aug 3, 2021 - Aug 30, 2021	-0.31% Feb 21, 2018 - Feb 23, 2018

Correlation

Correlation between ISCF and HFRO is -0.31 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.31

-101

Dividend Comparison (2015 - 2026)

ISCF vs HFRO dividend yield comparison.

Year	ISCF	HFRO
2026	0.00%	2.87%
2025	3.76%	7.73%
2024	4.29%	8.90%
2023	3.94%	12.02%
2022	2.73%	8.97%
2021	3.93%	8.41%
2020	2.30%	8.99%
2019	2.87%	7.43%
2018	2.14%	7.22%
2017	1.97%	0.99%
2016	2.89%	0.00%
2015	1.46%	0.00%