GASFX vs. BTC-USD

Last updated Apr 2, 2026

Compare and contrast key facts about Hennessy Gas Utility Fund (GASFX) and Bitcoin (BTC-USD).

GASFX is managed by Hennessy. It was launched on May 9, 1989.

Performance

GASFX vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hennessy Gas Utility Fund (GASFX) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

GASFX vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GASFX Hennessy Gas Utility Fund	13.22%	10.42%	24.98%	0.27%	13.68%	19.60%	-9.34%	20.80%	-3.47%	7.04%
BTC-USD Bitcoin	-21.63%	-6.27%	120.76%	155.82%	-64.23%	59.40%	304.57%	94.10%	-73.37%	1,324.24%

Returns By Period

In the year-to-date period, GASFX achieves a 13.22% return, which is significantly higher than BTC-USD's -21.63% return. Over the past 10 years, GASFX has underperformed BTC-USD with an annualized return of 10.04%, while BTC-USD has yielded a comparatively higher 66.45% annualized return.

GASFX

• 1D: -0.89%
• 1M: -0.89%
• YTD: 13.22%
• 6M: 11.16%
• 1Y: 16.05%
• 3Y*: 16.48%
• 5Y*: 14.62%
• 10Y*: 10.04%

BTC-USD

• 1D: 0.51%
• 1M: -0.38%
• YTD: -21.63%
• 6M: -42.21%
• 1Y: -19.49%
• 3Y*: 34.49%
• 5Y*: 3.06%
• 10Y*: 66.45%

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

Return for Risk

GASFX vs. BTC-USD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GASFX

GASFX Risk / Return Rank: 66
GASFX Sharpe Ratio Rank: 65
GASFX Sortino Ratio Rank: 58
GASFX Omega Ratio Rank: 53
GASFX Calmar Ratio Rank: 81
GASFX Martin Ratio Rank: 74

BTC-USD

BTC-USD Risk / Return Rank: 43
BTC-USD Sharpe Ratio Rank: 61
BTC-USD Sortino Ratio Rank: 55
BTC-USD Omega Ratio Rank: 51
BTC-USD Calmar Ratio Rank: 43
BTC-USD Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GASFX vs. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hennessy Gas Utility Fund (GASFX) and Bitcoin (BTC-USD). 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.

	GASFX	BTC-USD	Difference
Sharpe ratio Return per unit of total volatility	1.21	-0.44	+1.65
Sortino ratio Return per unit of downside risk	1.62	-0.38	+2.00
Omega ratio Gain probability vs. loss probability	1.23	0.96	+0.27
Calmar ratio Return relative to maximum drawdown	2.06	-1.11	+3.17
Martin ratio Return relative to average drawdown	7.59	-1.99	+9.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GASFX vs. BTC-USD - Sharpe Ratio Comparison

The current GASFX Sharpe Ratio is 1.21, which is higher than the BTC-USD Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of GASFX and BTC-USD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GASFX	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.21	-0.44	+1.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	0.05	+0.90
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.97	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	1.19	-0.62

Correlation

The correlation between GASFX and BTC-USD is 0.04, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

GASFX vs. BTC-USD - Drawdown Comparison

The maximum GASFX drawdown since its inception was -49.33%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for GASFX and BTC-USD.

Drawdown Indicators

	GASFX	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-49.33%	-85.30%	+35.97%
Max Drawdown (1Y) Largest decline over 1 year	-8.47%	-49.65%	+41.18%
Max Drawdown (5Y) Largest decline over 5 years	-18.25%	-76.67%	+58.42%
Max Drawdown (10Y) Largest decline over 10 years	-37.23%	-83.80%	+46.57%
Current Drawdown Current decline from peak	-1.12%	-45.02%	+43.90%
Average Drawdown Average peak-to-trough decline	-7.88%	-41.99%	+34.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	27.60%	-25.30%

Volatility

GASFX vs. BTC-USD - Volatility Comparison

The current volatility for Hennessy Gas Utility Fund (GASFX) is 3.41%, while Bitcoin (BTC-USD) has a volatility of 13.58%. This indicates that GASFX experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GASFX	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.41%	13.58%	-10.17%
Volatility (6M) Calculated over the trailing 6-month period	7.90%	35.98%	-28.08%
Volatility (1Y) Calculated over the trailing 1-year period	13.69%	36.76%	-23.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.33%	46.90%	-31.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.64%	56.70%	-39.06%