misfortune vs tragedy

misfortune and tragedy both are nouns.

Word	Noun	Adjective	Verb	Adverb
misfortune	Yes	No	No	No
tragedy	Yes	No	No	No

As nouns, tragedy is a hyponym of misfortune; that is, tragedy is a word with a more specific, narrower meaning than misfortune:

misfortune: unnecessary and unforeseen trouble resulting from an unfortunate event
tragedy: an event resulting in great loss and misfortune

misfortune (noun)	tragedy (noun)
unnecessary and unforeseen trouble resulting from an unfortunate event	drama in which the protagonist is overcome by some superior force or circumstance; excites terror or pity
an unfortunate state resulting from unfavorable outcomes	an event resulting in great loss and misfortune