GASFX vs. HFMDX

Last updated Apr 1, 2026

Compare and contrast key facts about Hennessy Gas Utility Fund (GASFX) and Hennessy Cornerstone Mid Cap 30 Fund (HFMDX).

GASFX is managed by Hennessy. It was launched on May 9, 1989. HFMDX is managed by Hennessy. It was launched on Sep 17, 2003.

Performance

GASFX vs. HFMDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hennessy Gas Utility Fund (GASFX) and Hennessy Cornerstone Mid Cap 30 Fund (HFMDX). The values are adjusted to include any dividend payments, if applicable.

GASFX vs. HFMDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GASFX Hennessy Gas Utility Fund	14.24%	10.42%	24.98%	0.27%	13.68%	19.60%	-9.34%	20.80%	-3.47%	7.04%
HFMDX Hennessy Cornerstone Mid Cap 30 Fund	-4.78%	2.68%	34.13%	30.83%	2.72%	27.23%	23.37%	15.76%	-23.52%	20.71%

Returns By Period

In the year-to-date period, GASFX achieves a 14.24% return, which is significantly higher than HFMDX's -4.78% return. Over the past 10 years, GASFX has underperformed HFMDX with an annualized return of 10.14%, while HFMDX has yielded a comparatively higher 11.66% annualized return.

GASFX

• 1D: 0.17%
• 1M: 0.60%
• YTD: 14.24%
• 6M: 11.75%
• 1Y: 17.55%
• 3Y*: 16.83%
• 5Y*: 14.84%
• 10Y*: 10.14%

HFMDX

• 1D: -2.49%
• 1M: -10.16%
• YTD: -4.78%
• 6M: -4.01%
• 1Y: 8.75%
• 3Y*: 16.28%
• 5Y*: 12.41%
• 10Y*: 11.66%

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

GASFX vs. HFMDX - Expense Ratio Comparison

GASFX has a 1.00% expense ratio, which is lower than HFMDX's 1.36% expense ratio.

HFMDX

Hennessy Cornerstone Mid Cap 30 Fund

GASFX

Hennessy Gas Utility Fund

Return for Risk

GASFX vs. HFMDX — Risk / Return Rank

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

GASFX

GASFX Risk / Return Rank: 77
GASFX Sharpe Ratio Rank: 76
GASFX Sortino Ratio Rank: 73
GASFX Omega Ratio Rank: 68
GASFX Calmar Ratio Rank: 87
GASFX Martin Ratio Rank: 83

HFMDX

HFMDX Risk / Return Rank: 14
HFMDX Sharpe Ratio Rank: 13
HFMDX Sortino Ratio Rank: 14
HFMDX Omega Ratio Rank: 13
HFMDX Calmar Ratio Rank: 15
HFMDX Martin Ratio Rank: 14

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. HFMDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hennessy Gas Utility Fund (GASFX) and Hennessy Cornerstone Mid Cap 30 Fund (HFMDX). 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	HFMDX	Difference
Sharpe ratio Return per unit of total volatility	1.36	0.33	+1.04
Sortino ratio Return per unit of downside risk	1.80	0.62	+1.18
Omega ratio Gain probability vs. loss probability	1.25	1.08	+0.18
Calmar ratio Return relative to maximum drawdown	2.27	0.41	+1.86
Martin ratio Return relative to average drawdown	8.36	1.36	+7.00
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. HFMDX - Sharpe Ratio Comparison

The current GASFX Sharpe Ratio is 1.36, which is higher than the HFMDX Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of GASFX and HFMDX, 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	HFMDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	0.33	+1.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.97	0.53	+0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.47	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.40	+0.17

Correlation

The correlation between GASFX and HFMDX is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

GASFX vs. HFMDX - Dividend Comparison

GASFX's dividend yield for the trailing twelve months is around 10.02%, more than HFMDX's 0.75% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GASFX Hennessy Gas Utility Fund	10.02%	12.06%	7.36%	6.63%	15.49%	10.63%	10.93%	7.11%	12.31%	2.96%	3.52%	5.64%
HFMDX Hennessy Cornerstone Mid Cap 30 Fund	0.75%	0.72%	18.84%	9.61%	21.66%	1.73%	0.00%	0.00%	40.95%	18.56%	0.64%	0.91%

Drawdowns

GASFX vs. HFMDX - Drawdown Comparison

The maximum GASFX drawdown since its inception was -49.33%, smaller than the maximum HFMDX drawdown of -61.25%. Use the drawdown chart below to compare losses from any high point for GASFX and HFMDX.

Drawdown Indicators

	GASFX	HFMDX	Difference
Max Drawdown Largest peak-to-trough decline	-49.33%	-61.25%	+11.92%
Max Drawdown (1Y) Largest decline over 1 year	-8.47%	-14.22%	+5.75%
Max Drawdown (5Y) Largest decline over 5 years	-18.25%	-27.76%	+9.51%
Max Drawdown (10Y) Largest decline over 10 years	-37.23%	-56.14%	+18.91%
Current Drawdown Current decline from peak	-0.23%	-12.66%	+12.43%
Average Drawdown Average peak-to-trough decline	-7.88%	-12.33%	+4.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	4.33%	-2.03%

Volatility

GASFX vs. HFMDX - Volatility Comparison

The current volatility for Hennessy Gas Utility Fund (GASFX) is 3.35%, while Hennessy Cornerstone Mid Cap 30 Fund (HFMDX) has a volatility of 7.34%. This indicates that GASFX experiences smaller price fluctuations and is considered to be less risky than HFMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GASFX	HFMDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.35%	7.34%	-3.99%
Volatility (6M) Calculated over the trailing 6-month period	7.85%	16.19%	-8.34%
Volatility (1Y) Calculated over the trailing 1-year period	13.69%	24.92%	-11.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.32%	23.30%	-7.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.63%	24.98%	-7.35%