HMEZX Performance — NexPoint Merger Arbitrage Fund, Class Z
Data updated: 2026-09-14
HMEZX returned +1.89% year to date and +5.06% over one year to Jun 2026. Annualised returns are +6.33% over 3 years and +4.65% over 5 years. The fund trailed its US Mid-Cap Blend category average: $100 invested three years ago grew to $120, against $150 for the category, and to $105 over one year, against $122. Volatility over the past three years was 1.20% a year. In the 12 months to Jun 2026 the fund took in a net $395.5M, and assets reached $1.49B.
HMEZX Growth of $100
What $100 invested in NexPoint Merger Arbitrage Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Mid-Cap Blend category average over the same months.
| Period | HMEZX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $105 | $122 |
| 3 years (Jul 2023 – Jun 2026) | $120 | $150 |
| 5 years (Jul 2021 – Jun 2026) | $125 | $147 |
| Since data start (Jul 2019 – Jun 2026) | $147 | $208 |
HMEZX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.89% |
| 1 year | +5.06% |
| 3 years (annualised) | +6.33% |
| 5 years (annualised) | +4.65% |
HMEZX Annual Returns
Calendar-year total returns of NexPoint Merger Arbitrage Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +1.89% |
| 2025 | +6.30% |
| 2024 | +6.11% |
| 2023 | +4.04% |
| 2022 | +2.70% |
| 2021 | +5.32% |
| 2020 | +8.41% |
| 2019 (Jul–Dec) | +4.74% |
HMEZX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.6% | 0.0% | +0.3% | +0.2% | +0.4% | +0.6% | — | — | — | — | — | — |
| 2025 | +0.3% | +0.4% | +0.6% | +0.7% | +0.7% | +0.4% | +0.8% | +0.5% | +0.4% | +0.2% | +0.7% | +0.5% |
| 2024 | +1.3% | +0.5% | +0.1% | +0.8% | +0.4% | +0.1% | +0.6% | +0.6% | +0.7% | +0.5% | +0.4% | +0.1% |
| 2023 | −0.7% | 0.0% | +0.1% | +0.7% | −1.2% | +0.5% | +1.0% | +1.8% | +0.5% | +0.5% | +0.4% | +0.4% |
| 2022 | −0.3% | +0.5% | +0.1% | +0.1% | +0.2% | 0.0% | −0.4% | +0.5% | +0.4% | +0.1% | +0.4% | +1.2% |
| 2021 | +0.5% | +0.5% | +0.8% | +0.1% | +0.3% | +0.7% | +0.3% | +0.3% | +0.5% | +0.4% | +0.2% | +0.4% |
| 2020 | −1.9% | +0.2% | +0.9% | +1.7% | +0.4% | +1.9% | +0.2% | +0.4% | +1.3% | +1.6% | +1.1% | +0.4% |
| 2019 | — | — | — | — | — | — | +0.4% | +0.7% | +1.7% | +0.8% | +0.7% | +0.3% |
HMEZX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 1.20%
- 3-year Sharpe ratio: 1.52 (vs 4.5% risk-free rate)
- Best month: +1.81% (Aug 2023)
- Worst month: −0.05% (Feb 2026)
HMEZX Fund Flows
Monthly money in and out of NexPoint Merger Arbitrage Fund, from SEC Form N-PORT.
- 12-month net flow: $395.5M
- 12-month gross sales (incl. reinvestments): $781.9M
- Sales ÷ redemptions: 2.02×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $65.7M | $70.3M | −$4.6M |
| May 2026 | $70.8M | $26.7M | $44.1M |
| Apr 2026 | $97.7M | $35.1M | $62.6M |
| Mar 2026 | $83.0M | $26.8M | $56.2M |
| Feb 2026 | $83.2M | $24.7M | $58.4M |
| Jan 2026 | $99.0M | $27.8M | $71.2M |
| Dec 2025 | $48.3M | $27.2M | $21.1M |
| Nov 2025 | $37.2M | $29.0M | $8.2M |
| Oct 2025 | $66.5M | $24.7M | $41.7M |
| Sep 2025 | $36.5M | $24.3M | $12.3M |
| Aug 2025 | $42.8M | $42.0M | $762K |
| Jul 2025 | $51.4M | $27.9M | $23.5M |
HMEZX Assets Under Management
Net assets of NexPoint Merger Arbitrage Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $1.49B |
| 2026-03-31 | $1.39B |
| 2025-12-31 | $1.21B |
| 2025-09-30 | $1.14B |
| 2025-06-30 | $1.10B |
| 2025-03-31 | $1.04B |
| 2024-12-31 | $825.64M |
| 2024-09-30 | $795.97M |
| 2024-06-30 | $791.34M |
| 2024-03-31 | $742.16M |
| 2023-12-31 | $743.53M |
| 2023-09-30 | $853.29M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.