HFCGX vs. SPECX
HFCGX (Hennessy Cornerstone Growth Fund) and SPECX (Alger Spectra Fund) are both mutual funds - HFCGX is a Small Cap Blend Equities fund managed by Hennessy, while SPECX is a Large Cap Growth Equities fund managed by Alger. Over the past 10 years, HFCGX returned 12.04%/yr vs 16.53%/yr for SPECX. Their 0.74 correlation means they have sometimes moved together and sometimes differently. HFCGX charges 1.34%/yr vs 1.39%/yr for SPECX.
Performance
HFCGX vs. SPECX - Performance Comparison
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Returns By Period
In the year-to-date period, HFCGX achieves a 12.20% return, which is significantly higher than SPECX's 4.51% return. Over the past 10 years, HFCGX has underperformed SPECX with an annualized return of 12.04%, while SPECX has yielded a comparatively higher 16.53% annualized return.
HFCGX
- 1D
- -0.21%
- 1M
- 2.66%
- 6M
- 6.49%
- YTD
- 12.20%
- 1Y
- 19.86%
- 3Y*
- 17.85%
- 5Y*
- 13.89%
- 10Y*
- 12.04%
- ALL TIME*
- 9.50%
SPECX
- 1D
- 1.08%
- 1M
- -3.23%
- 6M
- 6.41%
- YTD
- 4.51%
- 1Y
- 17.07%
- 3Y*
- 28.63%
- 5Y*
- 11.66%
- 10Y*
- 16.53%
- ALL TIME*
- 12.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
SPECX Alger Spectra Fund | $0.00 | $0.00 | $0.00 |
HFCGX vs. SPECX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HFCGX Hennessy Cornerstone Growth Fund | 12.20% | 4.78% | 31.45% | 19.58% | -4.97% | 29.94% | 17.73% | 20.70% | -21.39% | 16.60% |
SPECX Alger Spectra Fund | 4.51% | 29.16% | 47.52% | 41.34% | -39.37% | 12.61% | 43.66% | 32.15% | -0.82% | 31.11% |
Correlation
The correlation between HFCGX and SPECX is 0.40, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.40 |
Correlation (3Y) Balances recent behavior with more history. | 0.54 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.58 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 1996 | 0.74 |
Over the past year, the correlation between HFCGX and SPECX has dropped to 0.40 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.
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Return for Risk
HFCGX vs. SPECX — Risk / Return Rank
HFCGX
SPECX
HFCGX vs. SPECX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hennessy Cornerstone Growth Fund (HFCGX) and Alger Spectra Fund (SPECX). 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.
| HFCGX | SPECX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.11 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 0.70 | +1.63 |
| Martin ratioReturn relative to average drawdown | 6.44 | 2.04 | +4.40 |
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Drawdowns
HFCGX vs. SPECX - Drawdown Comparison
The maximum HFCGX drawdown since its inception was -62.35%, smaller than the maximum SPECX drawdown of -72.19%. Use the drawdown chart below to compare losses from any high point for HFCGX and SPECX.
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Drawdown Indicators
| HFCGX | SPECX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.35% | -72.19% | +9.84% |
Max Drawdown (1Y)Largest decline over 1 year | -7.82% | -20.03% | +12.21% |
Max Drawdown (3Y)Largest decline over 3 years | -22.86% | -27.91% | +5.05% |
Max Drawdown (5Y)Largest decline over 5 years | -26.30% | -54.82% | +28.52% |
Max Drawdown (10Y)Largest decline over 10 years | -54.22% | -54.82% | +0.60% |
Current DrawdownCurrent decline from peak | -4.30% | -8.60% | +4.30% |
Average DrawdownAverage peak-to-trough decline | -15.17% | -23.94% | +8.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 6.85% | -4.03% |
Volatility
HFCGX vs. SPECX - Volatility Comparison
The current volatility for Hennessy Cornerstone Growth Fund (HFCGX) is 6.37%, while Alger Spectra Fund (SPECX) has a volatility of 8.82%. This indicates that HFCGX experiences smaller price fluctuations and is considered to be less risky than SPECX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HFCGX | SPECX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.37% | 8.82% | -2.45% |
Volatility (6M)Calculated over the trailing 6-month period | 11.94% | 20.08% | -8.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.57% | 25.01% | -10.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.86% | 33.11% | -9.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.88% | 28.11% | -2.23% |
HFCGX vs. SPECX - Expense Ratio Comparison
HFCGX has a 1.34% expense ratio, which is lower than SPECX's 1.39% expense ratio.
Dividends
HFCGX vs. SPECX - Dividend Comparison
HFCGX has not paid dividends to shareholders, while SPECX's dividend yield for the trailing twelve months is around 7.15%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HFCGX Hennessy Cornerstone Growth Fund | 0.00% | 0.00% | 14.11% | 0.38% | 3.58% | 26.58% | 0.00% | 0.00% | 10.47% | 0.00% | 0.00% | 0.11% |
SPECX Alger Spectra Fund | 7.15% | 7.47% | 6.49% | 0.00% | 2.70% | 34.41% | 9.19% | 7.20% | 12.09% | 6.14% | 0.00% | 8.80% |
Frequently Asked Questions
HFCGX and SPECX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPECX has higher volatility (8.82%) compared to HFCGX (6.37%). In terms of maximum drawdown, HFCGX dropped -62.35% vs SPECX's -72.19%.
HFCGX currently has the higher Sharpe Ratio (1.25 vs 0.56), 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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