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HFRAX Highland Floating Rate Opportunities A

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Fund HFRAX Highland Floating Rate Opportunities A SNLN Highland/iBoxx Senior Loan ETF  
Similarity
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100% 96%
Annual Fees
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$160.01
(1.57% Exp. Ratio)
$56.06
(0.55% Exp. Ratio)
Future Est. Balance in 30 yrs
Assuming 1.92% annual return
$11,000.25 $14,987.24
Est. savings over 30 yrs +$3,986.99
Return
As of 11/30/16
1 YR RETURN 6.30%
3 YR 0.83%
5 YR 6.93%
10 YR 0.51%
1 YR RETURN 6.36%
3 YR 1.95%
5 YR --
10 YR --
Description
The investment seeks to provide a high level of current income, consistent with preservation of capital. The fund seeks to achieve its objective by investing directly and indirectly (e.g., through derivatives that are the economic equivalent of floating rate loans and other floating rate investments) at least 80% of its net assets (plus any borrowings for investment purposes) under normal circumstances in floating rate loans and other securities deemed to be floating rate investments. The fund is non-diversified.
The investment seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Markit iBoxx USD Liquid Leveraged Loan Index. The fund will, under normal circumstances, invest at least 80% of its assets (the "80% basket") in component securities of the underlying index. The underlying index is a subset of the Markit iBoxx USD Leveraged Loan Index. "Leveraged Loans" are loans to companies that typically already have a high amount of debt and are often characterized by lower credit ratings or higher interest rates. It is non-diversified.

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The fees, balance and savings information above are estimated numbers, based on the data FeeX had at the day of publication, but may not be accurate due to incomplete or erroneous data.

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Similarity

FeeX's similarity algorithm analyzes over 15 investment characteristics like investment category, asset allocation, strategy, geographical allocation and more. FeeX gives each its own weight and calculates the similarity of any two investments based on a scale of 0 to 100%. Funds with a similarity ranking of 85% and higher are considered "similar".

Yes, funds and ETFs charge fees

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