HBFBX vs. HTECX
HBFBX (Hennessy Balanced Fund) and HTECX (Hennessy Technology Fund) are both mutual funds - HBFBX is a Diversified Portfolio fund managed by Hennessy, while HTECX is a Technology Equities fund managed by Hennessy. Over the past 10 years, HBFBX returned 5.91%/yr vs 14.50%/yr for HTECX. Their 0.63 correlation means they have sometimes moved together and sometimes differently. HBFBX charges 0.49%/yr vs 1.23%/yr for HTECX.
Performance
HBFBX vs. HTECX - Performance Comparison
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Returns By Period
In the year-to-date period, HBFBX achieves a 8.07% return, which is significantly lower than HTECX's 23.44% return. Over the past 10 years, HBFBX has underperformed HTECX with an annualized return of 5.91%, while HTECX has yielded a comparatively higher 14.50% annualized return.
HBFBX
- 1D
- -0.44%
- 1M
- 0.15%
- 6M
- 5.39%
- YTD
- 8.07%
- 1Y
- 14.27%
- 3Y*
- 9.17%
- 5Y*
- 7.08%
- 10Y*
- 5.91%
- ALL TIME*
- 4.68%
HTECX
- 1D
- 0.23%
- 1M
- 3.09%
- 6M
- 23.95%
- YTD
- 23.44%
- 1Y
- 36.30%
- 3Y*
- 21.04%
- 5Y*
- 10.83%
- 10Y*
- 14.50%
- ALL TIME*
- 7.67%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
HBFBX vs. HTECX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HBFBX Hennessy Balanced Fund | 8.07% | 9.90% | 4.81% | 7.62% | 3.83% | 8.07% | -2.98% | 9.71% | 0.06% | 8.34% |
HTECX Hennessy Technology Fund | 23.44% | 15.48% | 17.29% | 35.95% | -26.28% | 14.75% | 24.45% | 39.13% | -2.27% | 20.31% |
Correlation
The correlation between HBFBX and HTECX is 0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.07 |
Correlation (3Y) Balances recent behavior with more history. | 0.31 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.44 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.50 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2002 | 0.63 |
Over the past year, the correlation between HBFBX and HTECX has dropped to 0.07 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.
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Return for Risk
HBFBX vs. HTECX — Risk / Return Rank
HBFBX
HTECX
HBFBX vs. HTECX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hennessy Balanced Fund (HBFBX) and Hennessy Technology Fund (HTECX). 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.
| HBFBX | HTECX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.25 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 4.24 | 2.12 | +2.13 |
| Martin ratioReturn relative to average drawdown | 10.88 | 6.20 | +4.68 |
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Drawdowns
HBFBX vs. HTECX - Drawdown Comparison
The maximum HBFBX drawdown since its inception was -41.61%, smaller than the maximum HTECX drawdown of -58.85%. Use the drawdown chart below to compare losses from any high point for HBFBX and HTECX.
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Drawdown Indicators
| HBFBX | HTECX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.61% | -58.85% | +17.24% |
Max Drawdown (1Y)Largest decline over 1 year | -3.20% | -15.01% | +11.81% |
Max Drawdown (3Y)Largest decline over 3 years | -6.10% | -26.64% | +20.54% |
Max Drawdown (5Y)Largest decline over 5 years | -10.22% | -34.88% | +24.66% |
Max Drawdown (10Y)Largest decline over 10 years | -17.24% | -35.00% | +17.76% |
Current DrawdownCurrent decline from peak | -0.81% | -0.15% | -0.66% |
Average DrawdownAverage peak-to-trough decline | -4.04% | -11.89% | +7.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 5.13% | -3.88% |
Volatility
HBFBX vs. HTECX - Volatility Comparison
The current volatility for Hennessy Balanced Fund (HBFBX) is 2.93%, while Hennessy Technology Fund (HTECX) has a volatility of 5.26%. This indicates that HBFBX experiences smaller price fluctuations and is considered to be less risky than HTECX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HBFBX | HTECX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.93% | 5.26% | -2.33% |
Volatility (6M)Calculated over the trailing 6-month period | 4.92% | 17.51% | -12.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.20% | 21.79% | -15.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.30% | 24.51% | -17.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.16% | 23.80% | -15.64% |
HBFBX vs. HTECX - Expense Ratio Comparison
HBFBX has a 0.49% expense ratio, which is lower than HTECX's 1.23% expense ratio.
Dividends
HBFBX vs. HTECX - Dividend Comparison
HBFBX's dividend yield for the trailing twelve months is around 1.66%, less than HTECX's 17.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HBFBX Hennessy Balanced Fund | 1.66% | 1.90% | 5.40% | 4.62% | 9.50% | 3.79% | 0.95% | 5.20% | 5.51% | 7.62% | 7.76% | 2.53% |
HTECX Hennessy Technology Fund | 17.14% | 21.16% | 4.28% | 0.00% | 0.07% | 33.37% | 3.58% | 2.65% | 15.54% | 9.60% | 0.00% | 0.00% |
Frequently Asked Questions
HBFBX and HTECX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HTECX has higher volatility (5.26%) compared to HBFBX (2.93%). In terms of maximum drawdown, HBFBX dropped -41.61% vs HTECX's -58.85%.
HBFBX currently has the higher Sharpe Ratio (2.20 vs 1.46), 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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