FISEX vs. HFQAX

Last updated Aug 1, 2026

FISEX (Franklin Equity Income Fund) and HFQAX (Janus Henderson Global Equity Income Fund) are both Dividend funds. Over the past 10 years, FISEX returned 11.72%/yr vs 8.90%/yr for HFQAX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. FISEX charges 0.85%/yr vs 1.24%/yr for HFQAX.

Performance

FISEX vs. HFQAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Equity Income Fund (FISEX) and Janus Henderson Global Equity Income Fund (HFQAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FISEX achieves a 12.76% return, which is significantly lower than HFQAX's 17.80% return. Over the past 10 years, FISEX has outperformed HFQAX with an annualized return of 11.72%, while HFQAX has yielded a comparatively lower 8.90% annualized return.

FISEX

• 1D: 0.95%
• 1M: 1.98%
• 6M: 8.61%
• YTD: 12.76%
• 1Y: 22.04%
• 3Y*: 16.54%
• 5Y*: 11.30%
• 10Y*: 11.72%
• ALL TIME*: 9.05%

HFQAX

• 1D: 1.72%
• 1M: 3.62%
• 6M: 10.24%
• YTD: 17.80%
• 1Y: 30.15%
• 3Y*: 18.64%
• 5Y*: 11.82%
• 10Y*: 8.90%
• ALL TIME*: 5.49%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FISEX Franklin Equity Income Fund	$0.00	$0.00	$0.00
HFQAX Janus Henderson Global Equity Income Fund	$0.00	$0.00	$0.00

FISEX vs. HFQAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FISEX Franklin Equity Income Fund	12.76%	17.05%	18.11%	9.04%	-6.88%	25.42%	5.53%	25.51%	-4.76%	15.99%
HFQAX Janus Henderson Global Equity Income Fund	17.80%	29.61%	6.86%	10.17%	-6.59%	12.45%	1.66%	20.87%	-15.86%	19.14%

Correlation

The correlation between FISEX and HFQAX is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.74
Correlation (3Y) Balances recent behavior with more history.	0.69
Correlation (5Y) Shows whether the relationship held over a longer period.	0.75
Correlation (10Y) Provides a long-term view across more market conditions.	0.75
Correlation (All Time) Calculated using the full available price history since Dec 1, 2006	0.78

The correlation between FISEX and HFQAX has been stable across timeframes, ranging from 0.69 to 0.78 - a consistent structural relationship.

Return for Risk

FISEX vs. HFQAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FISEX

FISEX Risk / Return Rank: 84
FISEX Sharpe Ratio Rank: 84
FISEX Sortino Ratio Rank: 82
FISEX Omega Ratio Rank: 79
FISEX Calmar Ratio Rank: 87
FISEX Martin Ratio Rank: 90

HFQAX

HFQAX Risk / Return Rank: 86
HFQAX Sharpe Ratio Rank: 91
HFQAX Sortino Ratio Rank: 87
HFQAX Omega Ratio Rank: 87
HFQAX Calmar Ratio Rank: 84
HFQAX Martin Ratio Rank: 83

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FISEX vs. HFQAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Equity Income Fund (FISEX) and Janus Henderson Global Equity Income Fund (HFQAX). 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.

	FISEX	HFQAX	Difference
Sharpe ratio: Return per unit of total volatility	2.00	2.32	-0.32
Sortino ratio: Return per unit of downside risk	2.84	3.14	-0.30
Omega ratio: Gain probability vs. loss probability	1.36	1.44	-0.08
Calmar ratio: Return relative to maximum drawdown	3.09	2.81	+0.29
Martin ratio: Return relative to average drawdown	12.17	10.08	+2.09

FISEX vs. HFQAX - Sharpe Ratio Comparison

The current FISEX Sharpe Ratio is 2.00, which is comparable to the HFQAX Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of FISEX and HFQAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FISEX vs. HFQAX - Drawdown Comparison

The maximum FISEX drawdown since its inception was -56.54%, which is greater than HFQAX's maximum drawdown of -52.77%. Use the drawdown chart below to compare losses from any high point for FISEX and HFQAX.

Drawdown Indicators

	FISEX	HFQAX	Difference
Max Drawdown Largest peak-to-trough decline	-56.54%	-52.77%	-3.77%
Max Drawdown (1Y) Largest decline over 1 year	-6.41%	-9.99%	+3.58%
Max Drawdown (3Y) Largest decline over 3 years	-16.18%	-12.20%	-3.98%
Max Drawdown (5Y) Largest decline over 5 years	-18.66%	-21.83%	+3.17%
Max Drawdown (10Y) Largest decline over 10 years	-32.97%	-34.79%	+1.82%
Current Drawdown Current decline from peak	-0.38%	0.00%	-0.38%
Average Drawdown Average peak-to-trough decline	-6.42%	-10.79%	+4.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	2.78%	-1.15%

Volatility

FISEX vs. HFQAX - Volatility Comparison

The current volatility for Franklin Equity Income Fund (FISEX) is 2.66%, while Janus Henderson Global Equity Income Fund (HFQAX) has a volatility of 3.78%. This indicates that FISEX experiences smaller price fluctuations and is considered to be less risky than HFQAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FISEX	HFQAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.66%	3.78%	-1.12%
Volatility (6M) Calculated over the trailing 6-month period	7.40%	10.34%	-2.94%
Volatility (1Y) Calculated over the trailing 1-year period	9.91%	12.09%	-2.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.54%	13.07%	+1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.11%	14.44%	+1.67%

FISEX vs. HFQAX - Expense Ratio Comparison

FISEX has a 0.85% expense ratio, which is lower than HFQAX's 1.24% expense ratio.

Dividends

FISEX vs. HFQAX - Dividend Comparison

FISEX's dividend yield for the trailing twelve months is around 8.78%, more than HFQAX's 5.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FISEX Franklin Equity Income Fund	8.78%	10.11%	10.50%	4.22%	5.60%	7.19%	3.05%	5.00%	6.99%	4.81%	6.45%	5.38%
HFQAX Janus Henderson Global Equity Income Fund	5.79%	6.59%	7.96%	7.89%	8.02%	6.92%	7.25%	6.80%	7.66%	6.03%	6.77%	6.60%

Frequently Asked Questions

Can I hold both FISEX and HFQAX in my portfolio?

FISEX and HFQAX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FISEX or HFQAX?

HFQAX has higher volatility (3.78%) compared to FISEX (2.66%). In terms of maximum drawdown, FISEX dropped -56.54% vs HFQAX's -52.77%.

Which has better risk-adjusted returns?

HFQAX currently has the higher Sharpe Ratio (2.32 vs 2.00), 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.