HFMDX vs. SPY
Compare and contrast key facts about Hennessy Cornerstone Mid Cap 30 Fund (HFMDX) and State Street SPDR S&P 500 ETF (SPY).
HFMDX is managed by Hennessy. It was launched on Sep 17, 2003. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
HFMDX vs. SPY - Performance Comparison
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HFMDX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HFMDX Hennessy Cornerstone Mid Cap 30 Fund | -1.39% | 2.68% | 34.13% | 30.83% | 2.72% | 27.23% | 23.37% | 15.76% | -23.52% | 20.71% |
SPY State Street SPDR S&P 500 ETF | -3.65% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, HFMDX achieves a -1.39% return, which is significantly higher than SPY's -3.65% return. Over the past 10 years, HFMDX has underperformed SPY with an annualized return of 12.05%, while SPY has yielded a comparatively higher 14.06% annualized return.
HFMDX
- 1D
- 3.56%
- 1M
- -6.47%
- YTD
- -1.39%
- 6M
- -0.77%
- 1Y
- 11.96%
- 3Y*
- 17.64%
- 5Y*
- 12.98%
- 10Y*
- 12.05%
SPY
- 1D
- 0.75%
- 1M
- -4.28%
- YTD
- -3.65%
- 6M
- -1.42%
- 1Y
- 18.14%
- 3Y*
- 18.48%
- 5Y*
- 11.86%
- 10Y*
- 14.06%
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HFMDX vs. SPY - Expense Ratio Comparison
HFMDX has a 1.36% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
HFMDX vs. SPY — Risk / Return Rank
HFMDX
SPY
HFMDX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hennessy Cornerstone Mid Cap 30 Fund (HFMDX) and State Street SPDR S&P 500 ETF (SPY). 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 | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.50 | 0.96 | -0.45 |
Sortino ratioReturn per unit of downside risk | 0.86 | 1.49 | -0.63 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.23 | -0.12 |
Calmar ratioReturn relative to maximum drawdown | 0.84 | 1.53 | -0.70 |
Martin ratioReturn relative to average drawdown | 2.72 | 7.27 | -4.54 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HFMDX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.50 | 0.96 | -0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.70 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.79 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.56 | -0.15 |
Correlation
The correlation between HFMDX and SPY is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
HFMDX vs. SPY - Dividend Comparison
HFMDX's dividend yield for the trailing twelve months is around 0.73%, less than SPY's 1.13% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HFMDX Hennessy Cornerstone Mid Cap 30 Fund | 0.73% | 0.72% | 18.84% | 9.61% | 21.66% | 1.73% | 0.00% | 0.00% | 40.95% | 18.56% | 0.64% | 0.91% |
SPY State Street SPDR S&P 500 ETF | 1.13% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
HFMDX vs. SPY - Drawdown Comparison
The maximum HFMDX drawdown since its inception was -61.25%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for HFMDX and SPY.
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Drawdown Indicators
| HFMDX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.25% | -55.19% | -6.06% |
Max Drawdown (1Y)Largest decline over 1 year | -14.22% | -12.05% | -2.17% |
Max Drawdown (5Y)Largest decline over 5 years | -27.76% | -24.50% | -3.26% |
Max Drawdown (10Y)Largest decline over 10 years | -56.14% | -33.72% | -22.42% |
Current DrawdownCurrent decline from peak | -9.56% | -5.53% | -4.03% |
Average DrawdownAverage peak-to-trough decline | -12.33% | -9.09% | -3.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.37% | 2.54% | +1.83% |
Volatility
HFMDX vs. SPY - Volatility Comparison
Hennessy Cornerstone Mid Cap 30 Fund (HFMDX) has a higher volatility of 8.36% compared to State Street SPDR S&P 500 ETF (SPY) at 5.35%. This indicates that HFMDX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HFMDX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.36% | 5.35% | +3.01% |
Volatility (6M)Calculated over the trailing 6-month period | 16.56% | 9.50% | +7.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.12% | 19.06% | +6.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.35% | 17.06% | +6.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.01% | 17.92% | +7.09% |