HFMDX vs. HDOGX

Last updated Aug 1, 2026

HFMDX (Hennessy Cornerstone Mid Cap 30 Fund) and HDOGX (Hennessy Total Return Fund) are both mutual funds - HFMDX is a Mid Cap Blend Equities fund managed by Hennessy, while HDOGX is a Diversified Portfolio fund managed by Hennessy. Over the past 10 years, HFMDX returned 13.89%/yr vs 6.74%/yr for HDOGX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. HFMDX charges 1.36%/yr vs 1.77%/yr for HDOGX.

Performance

HFMDX vs. HDOGX - Performance Comparison

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

Returns By Period

In the year-to-date period, HFMDX achieves a 16.24% return, which is significantly higher than HDOGX's 8.31% return. Over the past 10 years, HFMDX has outperformed HDOGX with an annualized return of 13.89%, while HDOGX has yielded a comparatively lower 6.74% annualized return.

HFMDX

• 1D: 2.06%
• 1M: -1.91%
• 6M: 11.87%
• YTD: 16.24%
• 1Y: 29.44%
• 3Y*: 18.19%
• 5Y*: 16.56%
• 10Y*: 13.89%
• ALL TIME*: 10.54%

HDOGX

• 1D: -0.64%
• 1M: 0.97%
• 6M: 5.34%
• YTD: 8.31%
• 1Y: 16.26%
• 3Y*: 10.22%
• 5Y*: 8.44%
• 10Y*: 6.74%
• ALL TIME*: 5.41%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HDOGX Hennessy Total Return Fund	$0.00	$0.00	$0.00
HFMDX Hennessy Cornerstone Mid Cap 30 Fund	$0.00	$0.00	$0.00

HFMDX vs. HDOGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HFMDX Hennessy Cornerstone Mid Cap 30 Fund	16.24%	2.68%	34.13%	30.83%	2.72%	27.23%	23.37%	15.76%	-23.52%	20.71%
HDOGX Hennessy Total Return Fund	8.31%	14.31%	2.89%	8.07%	6.68%	11.80%	-4.79%	12.56%	0.08%	11.15%

Correlation

The correlation between HFMDX and HDOGX is 0.17, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.17
Correlation (3Y) Balances recent behavior with more history.	0.41
Correlation (5Y) Shows whether the relationship held over a longer period.	0.53
Correlation (10Y) Provides a long-term view across more market conditions.	0.59
Correlation (All Time) Calculated using the full available price history since Jan 2, 2004	0.64

Over the past year, the correlation between HFMDX and HDOGX has dropped to 0.17 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

Return for Risk

HFMDX vs. HDOGX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HFMDX

HFMDX Risk / Return Rank: 40
HFMDX Sharpe Ratio Rank: 35
HFMDX Sortino Ratio Rank: 36
HFMDX Omega Ratio Rank: 33
HFMDX Calmar Ratio Rank: 52
HFMDX Martin Ratio Rank: 42

HDOGX

HDOGX Risk / Return Rank: 69
HDOGX Sharpe Ratio Rank: 75
HDOGX Sortino Ratio Rank: 78
HDOGX Omega Ratio Rank: 72
HDOGX Calmar Ratio Rank: 80
HDOGX Martin Ratio Rank: 39

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HFMDX vs. HDOGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hennessy Cornerstone Mid Cap 30 Fund (HFMDX) and Hennessy Total Return Fund (HDOGX). 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.

	HFMDX	HDOGX	Difference
Sharpe ratio: Return per unit of total volatility	1.06	1.81	-0.75
Sortino ratio: Return per unit of downside risk	1.60	2.73	-1.13
Omega ratio: Gain probability vs. loss probability	1.19	1.33	-0.14
Calmar ratio: Return relative to maximum drawdown	1.85	2.71	-0.87
Martin ratio: Return relative to average drawdown	5.96	5.99	-0.03

HFMDX vs. HDOGX - Sharpe Ratio Comparison

The current HFMDX Sharpe Ratio is 1.06, which is lower than the HDOGX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of HFMDX and HDOGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HFMDX vs. HDOGX - Drawdown Comparison

The maximum HFMDX drawdown since its inception was -61.25%, which is greater than HDOGX's maximum drawdown of -53.25%. Use the drawdown chart below to compare losses from any high point for HFMDX and HDOGX.

Drawdown Indicators

	HFMDX	HDOGX	Difference
Max Drawdown Largest peak-to-trough decline	-61.25%	-53.25%	-8.00%
Max Drawdown (1Y) Largest decline over 1 year	-12.66%	-5.67%	-6.99%
Max Drawdown (3Y) Largest decline over 3 years	-27.76%	-7.97%	-19.79%
Max Drawdown (5Y) Largest decline over 5 years	-27.76%	-14.84%	-12.92%
Max Drawdown (10Y) Largest decline over 10 years	-56.14%	-25.37%	-30.77%
Current Drawdown Current decline from peak	-4.77%	-1.21%	-3.56%
Average Drawdown Average peak-to-trough decline	-12.18%	-6.80%	-5.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.93%	2.57%	+1.36%

Volatility

HFMDX vs. HDOGX - Volatility Comparison

Hennessy Cornerstone Mid Cap 30 Fund (HFMDX) has a higher volatility of 5.31% compared to Hennessy Total Return Fund (HDOGX) at 3.75%. This indicates that HFMDX's price experiences larger fluctuations and is considered to be riskier than HDOGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFMDX	HDOGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	3.75%	+1.56%
Volatility (6M) Calculated over the trailing 6-month period	16.49%	6.73%	+9.76%
Volatility (1Y) Calculated over the trailing 1-year period	21.96%	8.52%	+13.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.42%	10.17%	+13.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.14%	11.73%	+13.41%

HFMDX vs. HDOGX - Expense Ratio Comparison

HFMDX has a 1.36% expense ratio, which is lower than HDOGX's 1.77% expense ratio.

Dividends

HFMDX vs. HDOGX - Dividend Comparison

HFMDX's dividend yield for the trailing twelve months is around 0.62%, less than HDOGX's 2.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDOGX Hennessy Total Return Fund	2.01%	2.17%	3.80%	7.55%	11.88%	1.35%	8.29%	1.72%	4.91%	12.76%	1.17%	11.07%
HFMDX Hennessy Cornerstone Mid Cap 30 Fund	0.62%	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 HDOGX in my portfolio?

HFMDX and HDOGX have a correlation of 0.17, 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 HDOGX?

HFMDX has higher volatility (5.31%) compared to HDOGX (3.75%). In terms of maximum drawdown, HFMDX dropped -61.25% vs HDOGX's -53.25%.

Which has better risk-adjusted returns?

HDOGX currently has the higher Sharpe Ratio (1.81 vs 1.06), 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.