BGX vs. HSGFX
BGX (Blackstone Long-Short Credit Income Fund) and HSGFX (Hussman Strategic Growth Fund) are both Long-Short funds. Over the past 10 years, BGX returned 6.63%/yr vs -2.92%/yr for HSGFX. At a correlation of -0.22, they often move in opposite directions. BGX charges 1.46%/yr vs 1.15%/yr for HSGFX.
Performance
BGX vs. HSGFX - Performance Comparison
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Returns By Period
In the year-to-date period, BGX achieves a -3.70% return, which is significantly higher than HSGFX's -8.26% return. Over the past 10 years, BGX has outperformed HSGFX with an annualized return of 6.63%, while HSGFX has yielded a comparatively lower -2.92% annualized return.
BGX
- 1D
- 0.28%
- 1M
- 0.57%
- YTD
- -3.70%
- 6M
- -3.10%
- 1Y
- -3.44%
- 3Y*
- 9.16%
- 5Y*
- 2.85%
- 10Y*
- 6.63%
HSGFX
- 1D
- 0.58%
- 1M
- 0.38%
- YTD
- -8.26%
- 6M
- -8.38%
- 1Y
- -15.35%
- 3Y*
- -3.94%
- 5Y*
- -3.10%
- 10Y*
- -2.92%
BGX vs. HSGFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BGX Blackstone Long-Short Credit Income Fund | -3.70% | 2.09% | 19.83% | 18.92% | -20.57% | 17.54% | -5.67% | 24.98% | -4.19% | 7.28% |
HSGFX Hussman Strategic Growth Fund | -8.26% | 6.24% | -6.99% | -11.60% | 17.33% | -0.23% | 14.52% | -18.87% | 8.78% | -12.72% |
Correlation
The correlation between BGX and HSGFX is -0.26, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.24 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2011 | -0.22 |
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Return for Risk
BGX vs. HSGFX — Risk / Return Rank
BGX
HSGFX
BGX vs. HSGFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Blackstone Long-Short Credit Income Fund (BGX) and Hussman Strategic Growth Fund (HSGFX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BGX | HSGFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +1.30 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 0.80 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | -0.91 | +0.64 |
| Martin ratioReturn relative to average drawdown | -0.56 | -1.88 | +1.32 |
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Drawdowns
BGX vs. HSGFX - Drawdown Comparison
The maximum BGX drawdown since its inception was -47.40%, smaller than the maximum HSGFX drawdown of -60.61%. Use the drawdown chart below to compare losses from any high point for BGX and HSGFX.
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Drawdown Indicators
| BGX | HSGFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.40% | -60.61% | +13.21% |
Max Drawdown (1Y)Largest decline over 1 year | -12.43% | -17.46% | +5.03% |
Max Drawdown (3Y)Largest decline over 3 years | -14.08% | -24.52% | +10.44% |
Max Drawdown (5Y)Largest decline over 5 years | -25.94% | -24.52% | -1.42% |
Max Drawdown (10Y)Largest decline over 10 years | -47.40% | -32.67% | -14.73% |
Current DrawdownCurrent decline from peak | -7.39% | -56.30% | +48.91% |
Average DrawdownAverage peak-to-trough decline | -6.99% | -26.92% | +19.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.19% | 8.95% | -2.76% |
Volatility
BGX vs. HSGFX - Volatility Comparison
The current volatility for Blackstone Long-Short Credit Income Fund (BGX) is 0.98%, while Hussman Strategic Growth Fund (HSGFX) has a volatility of 5.99%. This indicates that BGX experiences smaller price fluctuations and is considered to be less risky than HSGFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGX | HSGFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 5.99% | -5.01% |
Volatility (6M)Calculated over the trailing 6-month period | 5.88% | 10.21% | -4.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.92% | 12.44% | -4.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.77% | 11.33% | +0.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.52% | 10.84% | +6.68% |
BGX vs. HSGFX - Expense Ratio Comparison
BGX has a 1.46% expense ratio, which is higher than HSGFX's 1.15% expense ratio.
Dividends
BGX vs. HSGFX - Dividend Comparison
BGX's dividend yield for the trailing twelve months is around 9.03%, more than HSGFX's 2.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BGX Blackstone Long-Short Credit Income Fund | 9.03% | 8.87% | 9.89% | 11.71% | 8.15% | 7.01% | 8.76% | 9.35% | 11.74% | 7.12% | 9.01% | 8.72% |
HSGFX Hussman Strategic Growth Fund | 2.54% | 2.33% | 3.00% | 3.10% | 1.08% | 0.42% | 0.16% | 1.84% | 1.19% | 0.50% | 0.28% | 0.56% |
Frequently Asked Questions
BGX and HSGFX have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HSGFX has higher volatility (5.99%) compared to BGX (0.98%). In terms of maximum drawdown, BGX dropped -47.40% vs HSGFX's -60.61%.
BGX currently has the higher Sharpe Ratio (-0.44 vs -1.28), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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