HFMDX vs. CMGIX

Last updated Jun 4, 2026

HFMDX (Hennessy Cornerstone Mid Cap 30 Fund) and CMGIX (BlackRock Mid-Cap Growth Equity Portfolio) are both mutual funds - HFMDX is a Mid Cap Blend Equities fund managed by Hennessy, while CMGIX is a Mid Cap Growth Equities fund managed by BlackRock. Over the past 10 years, HFMDX returned 14.27%/yr vs 12.62%/yr for CMGIX. A 0.78 correlation means they provide meaningful diversification when combined. HFMDX charges 1.36%/yr vs 0.80%/yr for CMGIX.

Performance

HFMDX vs. CMGIX - Performance Comparison

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

Returns By Period

In the year-to-date period, HFMDX achieves a 17.06% return, which is significantly higher than CMGIX's 10.32% return. Over the past 10 years, HFMDX has outperformed CMGIX with an annualized return of 14.27%, while CMGIX has yielded a comparatively lower 12.62% annualized return.

HFMDX

• 1D: -0.19%
• 1M: 3.10%
• YTD: 17.06%
• 6M: 17.55%
• 1Y: 27.66%
• 3Y*: 24.29%
• 5Y*: 16.18%
• 10Y*: 14.27%

CMGIX

• 1D: 0.25%
• 1M: 5.43%
• YTD: 10.32%
• 6M: 9.08%
• 1Y: 10.07%
• 3Y*: 12.44%
• 5Y*: 2.38%
• 10Y*: 12.62%

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

HFMDX vs. CMGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HFMDX Hennessy Cornerstone Mid Cap 30 Fund	17.06%	2.68%	34.13%	30.83%	2.72%	27.23%	23.37%	15.76%	-23.52%	20.71%
CMGIX BlackRock Mid-Cap Growth Equity Portfolio	10.32%	0.49%	12.44%	28.24%	-37.36%	14.51%	46.13%	36.19%	2.88%	34.59%

Correlation

The correlation between HFMDX and CMGIX is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jan 5, 2004	0.78

The correlation between HFMDX and CMGIX has been stable across timeframes, ranging from 0.68 to 0.78 - a consistent structural relationship.

Return for Risk

HFMDX vs. CMGIX — Risk / Return Rank

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

HFMDX

HFMDX Risk / Return Rank: 27
HFMDX Sharpe Ratio Rank: 23
HFMDX Sortino Ratio Rank: 21
HFMDX Omega Ratio Rank: 20
HFMDX Calmar Ratio Rank: 37
HFMDX Martin Ratio Rank: 35

CMGIX

CMGIX Risk / Return Rank: 7
CMGIX Sharpe Ratio Rank: 6
CMGIX Sortino Ratio Rank: 7
CMGIX Omega Ratio Rank: 6
CMGIX Calmar Ratio Rank: 7
CMGIX Martin Ratio Rank: 8

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.

HFMDX vs. CMGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hennessy Cornerstone Mid Cap 30 Fund (HFMDX) and BlackRock Mid-Cap Growth Equity Portfolio (CMGIX). 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.

	HFMDX	CMGIX	Difference
Sharpe ratio: Return per unit of total volatility	1.36	0.51	+0.86
Sortino ratio: Return per unit of downside risk	1.91	0.85	+1.07
Omega ratio: Gain probability vs. loss probability	1.24	1.10	+0.14
Calmar ratio: Return relative to maximum drawdown	2.31	0.72	+1.59
Martin ratio: Return relative to average drawdown	7.79	2.23	+5.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HFMDX vs. CMGIX - Sharpe Ratio Comparison

The current HFMDX Sharpe Ratio is 1.36, which is higher than the CMGIX Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of HFMDX and CMGIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HFMDX	CMGIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	0.51	+0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.10	+0.60
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.54	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.41	+0.04

Drawdowns

HFMDX vs. CMGIX - Drawdown Comparison

The maximum HFMDX drawdown since its inception was -61.25%, smaller than the maximum CMGIX drawdown of -73.85%. Use the drawdown chart below to compare losses from any high point for HFMDX and CMGIX.

Drawdown Indicators

	HFMDX	CMGIX	Difference
Max Drawdown Largest peak-to-trough decline	-61.25%	-73.85%	+12.60%
Max Drawdown (1Y) Largest decline over 1 year	-12.66%	-14.90%	+2.24%
Max Drawdown (3Y) Largest decline over 3 years	-27.76%	-29.77%	+2.01%
Max Drawdown (5Y) Largest decline over 5 years	-27.76%	-45.96%	+18.20%
Max Drawdown (10Y) Largest decline over 10 years	-56.14%	-45.96%	-10.18%
Current Drawdown Current decline from peak	-1.79%	-6.45%	+4.66%
Average Drawdown Average peak-to-trough decline	-12.25%	-28.66%	+16.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	4.78%	-1.03%

Volatility

HFMDX vs. CMGIX - Volatility Comparison

Hennessy Cornerstone Mid Cap 30 Fund (HFMDX) has a higher volatility of 6.30% compared to BlackRock Mid-Cap Growth Equity Portfolio (CMGIX) at 5.03%. This indicates that HFMDX's price experiences larger fluctuations and is considered to be riskier than CMGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFMDX	CMGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.30%	5.03%	+1.27%
Volatility (6M) Calculated over the trailing 6-month period	15.83%	17.19%	-1.36%
Volatility (1Y) Calculated over the trailing 1-year period	21.47%	21.03%	+0.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.36%	25.05%	-1.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.09%	23.45%	+1.64%

HFMDX vs. CMGIX - Expense Ratio Comparison

HFMDX has a 1.36% expense ratio, which is higher than CMGIX's 0.80% expense ratio.

Dividends

HFMDX vs. CMGIX - Dividend Comparison

HFMDX's dividend yield for the trailing twelve months is around 0.61%, less than CMGIX's 19.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMGIX BlackRock Mid-Cap Growth Equity Portfolio	19.22%	21.20%	0.00%	0.00%	0.00%	4.94%	0.00%	0.39%	4.72%	3.31%	0.00%	2.57%
HFMDX Hennessy Cornerstone Mid Cap 30 Fund	0.61%	0.72%	18.84%	9.61%	21.66%	1.73%	0.00%	0.00%	40.95%	18.56%	0.64%	0.91%

Frequently Asked Questions

Can I hold both HFMDX and CMGIX in my portfolio?

HFMDX and CMGIX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HFMDX or CMGIX?

HFMDX has higher volatility (6.30%) compared to CMGIX (5.03%). In terms of maximum drawdown, HFMDX dropped -61.25% vs CMGIX's -73.85%.

Which has better risk-adjusted returns?

HFMDX currently has the higher Sharpe Ratio (1.36 vs 0.51), 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.