- ISIN
- US4481081002
- CUSIP
- 448108100
- Issuer
- Hussman Funds
- Inception Date
- Jul 24, 2000
- Category
- Long-Short
- Min. Investment
- $1,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
HSGFX Performance Chart
Hussman Strategic Growth Fund (HSGFX) is down 9.8% since the beginning of the year. HSGFX is currently trading at $5 per share. Investors who bought $1,000 worth of HSGFX shares 5 years ago would now be looking at an investment worth $830.
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Returns By Period
Hussman Strategic Growth Fund (HSGFX) has returned -9.84% so far this year and -18.99% over the past 12 months. Over the last ten years, HSGFX has returned -2.97% per year, falling short of the S&P 500 Index benchmark, which averaged 13.66% annually.
Hussman Strategic Growth Fund
- 1D
- -0.77%
- 1M
- -4.47%
- YTD
- -9.84%
- 6M
- -9.50%
- 1Y
- -18.99%
- 3Y*
- -4.49%
- 5Y*
- -3.66%
- 10Y*
- -2.97%
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
HSGFX Monthly Returns History
Based on dividend-adjusted daily data since Jul 24, 2000, HSGFX's average daily return is 0.00%, while the average monthly return is +0.04%. At this rate, an investment would double in approximately 144.4 years.
Historically, 49% of months were positive and 51% were negative. The best month was Jan 2021 with a return of +12.2%, while the worst month was Nov 2008 at -10.1%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 9 months.
On a daily basis, HSGFX closed higher 43% of trading days. The best single day was Oct 28, 2008 with a return of +6.1%, while the worst single day was Dec 1, 2008 at -4.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -1.93% | 2.51% | 3.32% | -9.14% | -3.91% | -0.58% | -9.84% | ||||||
| 2025 | 2.01% | 1.25% | 8.30% | 8.16% | -1.51% | -3.83% | -3.34% | 3.13% | -4.15% | -4.50% | 1.57% | 0.04% | 6.24% |
| 2024 | 0.33% | -2.96% | 0.17% | 2.20% | -3.14% | -3.75% | -0.71% | -1.43% | 1.27% | 2.15% | -2.80% | 1.72% | -6.99% |
| 2023 | -2.54% | -0.43% | -0.87% | -2.20% | -2.55% | -1.85% | -0.16% | 1.42% | 1.71% | 0.15% | -4.26% | -0.50% | -11.60% |
| 2022 | 8.20% | 1.21% | -2.25% | 4.75% | 1.02% | 1.88% | -5.26% | 1.65% | 3.83% | -2.70% | 1.46% | 2.98% | 17.33% |
| 2021 | 12.21% | -3.48% | 3.16% | -4.37% | 3.05% | 0.15% | -3.25% | -2.29% | 1.25% | -5.86% | 2.30% | -1.83% | -0.23% |
Benchmark Metrics
Hussman Strategic Growth Fund has an annualized alpha of 1.87%, beta of -0.17, and R2 of 0.11 versus S&P 500 Index. Calculated based on daily prices since July 25, 2000.
- This fund tended to rise when S&P 500 Index fell (downside capture of -47.15%), but participation in market rallies was also limited (-19.84%) - a profile typical of counter-cyclical assets.
- Beta of -0.17 may look defensive, but with R2 of 0.11 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.11 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 1.87%
- Beta
- -0.17
- R²
- 0.11
- Upside Capture
- -19.84%
- Downside Capture
- -47.15%
Expense Ratio
HSGFX has a high expense ratio of 1.15%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
HSGFX ranks 0 for risk / return — in the bottom 0% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Hussman Strategic Growth Fund (HSGFX) and compare them to S&P 500 Index.
| HSGFX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.01 | ||
| Sortino ratioReturn per unit of downside risk | -5.68 | ||
| Omega ratioGain probability vs. loss probability | 0.73 | 1.41 | -0.67 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 2.93 | -3.92 |
| Martin ratioReturn relative to average drawdown | -1.93 | 13.52 | -15.45 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Hussman Strategic Growth Fund provided a 2.58% dividend yield over the last twelve months, with an annual payout of $0.13 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.13 | $0.13 | $0.16 | $0.19 | $0.08 | $0.03 | $0.01 | $0.10 | $0.08 | $0.03 | $0.02 | $0.05 |
Dividend yield | 2.58% | 2.33% | 3.00% | 3.10% | 1.08% | 0.42% | 0.16% | 1.84% | 1.19% | 0.50% | 0.28% | 0.56% |
Monthly Dividends
The table displays the monthly dividend distributions for Hussman Strategic Growth Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.13 | $0.13 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.16 | $0.16 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.19 | $0.19 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.08 | $0.08 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.03 | $0.03 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Hussman Strategic Growth Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Hussman Strategic Growth Fund was 60.61%, occurring on Feb 10, 2020. The portfolio has not yet recovered.
The current Hussman Strategic Growth Fund drawdown is 57.05%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -60.61%Feb 2020 | 11y 4mo | — | 17y 8moSep 2008 - now |
2004 pullback2004 | -6.98%Aug 2004 | 4mo 8d | 6mo 3d | 10mo 11dApr 2004 - Feb 2005 |
Dot-com crash2000–2002 | -6.57%Nov 2002 | 3mo 9d | 5mo 16d | 8mo 25dAug 2002 - May 2003 |
Dot-com crash2000–2002 | -5.58%May 2001 | 29d | 3mo 28d | 4mo 27dApr 2001 - Aug 2001 |
Dot-com crash2000–2002 | -5.31%Jan 2001 | 21d | 24d | 1mo 15dDec 2000 - Feb 2001 |
Drawdown Indicators
| HSGFX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.61% | -56.78% | -3.83% |
Max Drawdown (1Y)Largest decline over 1 year | -19.80% | -9.10% | -10.70% |
Max Drawdown (3Y)Largest decline over 3 years | -24.22% | -18.90% | -5.32% |
Max Drawdown (5Y)Largest decline over 5 years | -24.22% | -25.43% | +1.21% |
Max Drawdown (10Y)Largest decline over 10 years | -33.41% | -33.92% | +0.51% |
Current DrawdownCurrent decline from peak | -57.05% | -0.74% | -56.31% |
Average DrawdownAverage peak-to-trough decline | -26.86% | -10.72% | -16.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.29% | 1.97% | +8.32% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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