HFQAX vs. EQNIX

Last updated Aug 1, 2026

HFQAX (Janus Henderson Global Equity Income Fund) and EQNIX (MFS Equity Income Fund) are both Dividend funds. Over the past 10 years, HFQAX returned 8.90%/yr vs 12.69%/yr for EQNIX. Their 0.79 correlation means they have sometimes moved together and sometimes differently. HFQAX charges 1.24%/yr vs 0.64%/yr for EQNIX.

Performance

HFQAX vs. EQNIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Global Equity Income Fund (HFQAX) and MFS Equity Income Fund (EQNIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with HFQAX having a 17.80% return and EQNIX slightly lower at 17.74%. Over the past 10 years, HFQAX has underperformed EQNIX with an annualized return of 8.90%, while EQNIX has yielded a comparatively higher 12.69% annualized return.

HFQAX

• 1D: 1.72%
• 1M: 3.62%
• 6M: 10.24%
• YTD: 17.80%
• 1Y: 30.15%
• 3Y*: 18.64%
• 5Y*: 11.82%
• 10Y*: 8.90%
• ALL TIME*: 5.49%

EQNIX

• 1D: 0.87%
• 1M: 1.95%
• 6M: 11.80%
• YTD: 17.74%
• 1Y: 28.31%
• 3Y*: 17.45%
• 5Y*: 12.33%
• 10Y*: 12.69%
• ALL TIME*: 12.46%

*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)
EQNIX MFS Equity Income Fund	$0.00	$0.00	$0.00
HFQAX Janus Henderson Global Equity Income Fund	$0.00	$0.00	$0.00

HFQAX vs. EQNIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HFQAX Janus Henderson Global Equity Income Fund	17.80%	29.61%	6.86%	10.17%	-6.59%	12.45%	1.66%	20.87%	-15.86%	19.14%
EQNIX MFS Equity Income Fund	17.74%	16.90%	12.89%	16.23%	-6.97%	26.35%	8.59%	25.72%	-7.55%	19.34%

Correlation

The correlation between HFQAX and EQNIX is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.77
Correlation (3Y) Balances recent behavior with more history.	0.74
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (10Y) Provides a long-term view across more market conditions.	0.80
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.79

The correlation between HFQAX and EQNIX has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.

Return for Risk

HFQAX vs. EQNIX — Risk / Return Rank

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

HFQAX

HFQAX Risk / Return Rank: 86
HFQAX Sharpe Ratio Rank: 91
HFQAX Sortino Ratio Rank: 87
HFQAX Omega Ratio Rank: 87
HFQAX Calmar Ratio Rank: 84
HFQAX Martin Ratio Rank: 83

EQNIX

EQNIX Risk / Return Rank: 88
EQNIX Sharpe Ratio Rank: 88
EQNIX Sortino Ratio Rank: 86
EQNIX Omega Ratio Rank: 84
EQNIX Calmar Ratio Rank: 89
EQNIX Martin Ratio Rank: 91

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.

HFQAX vs. EQNIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Global Equity Income Fund (HFQAX) and MFS Equity Income Fund (EQNIX). 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.

	HFQAX	EQNIX	Difference
Sharpe ratio: Return per unit of total volatility	2.32	2.21	+0.12
Sortino ratio: Return per unit of downside risk	3.14	3.09	+0.05
Omega ratio: Gain probability vs. loss probability	1.44	1.40	+0.03
Calmar ratio: Return relative to maximum drawdown	2.81	3.25	-0.45
Martin ratio: Return relative to average drawdown	10.08	13.14	-3.06

HFQAX vs. EQNIX - Sharpe Ratio Comparison

The current HFQAX Sharpe Ratio is 2.32, which is comparable to the EQNIX Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of HFQAX and EQNIX, 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

HFQAX vs. EQNIX - Drawdown Comparison

The maximum HFQAX drawdown since its inception was -52.77%, which is greater than EQNIX's maximum drawdown of -36.60%. Use the drawdown chart below to compare losses from any high point for HFQAX and EQNIX.

Drawdown Indicators

	HFQAX	EQNIX	Difference
Max Drawdown Largest peak-to-trough decline	-52.77%	-36.60%	-16.17%
Max Drawdown (1Y) Largest decline over 1 year	-9.99%	-7.94%	-2.05%
Max Drawdown (3Y) Largest decline over 3 years	-12.20%	-16.26%	+4.06%
Max Drawdown (5Y) Largest decline over 5 years	-21.83%	-18.64%	-3.19%
Max Drawdown (10Y) Largest decline over 10 years	-34.79%	-36.60%	+1.81%
Current Drawdown Current decline from peak	0.00%	-0.43%	+0.43%
Average Drawdown Average peak-to-trough decline	-10.79%	-3.41%	-7.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	1.97%	+0.81%

Volatility

HFQAX vs. EQNIX - Volatility Comparison

Janus Henderson Global Equity Income Fund (HFQAX) has a higher volatility of 3.78% compared to MFS Equity Income Fund (EQNIX) at 2.53%. This indicates that HFQAX's price experiences larger fluctuations and is considered to be riskier than EQNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFQAX	EQNIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.78%	2.53%	+1.25%
Volatility (6M) Calculated over the trailing 6-month period	10.34%	8.86%	+1.48%
Volatility (1Y) Calculated over the trailing 1-year period	12.09%	11.73%	+0.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.07%	14.91%	-1.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.44%	17.08%	-2.64%

HFQAX vs. EQNIX - Expense Ratio Comparison

HFQAX has a 1.24% expense ratio, which is higher than EQNIX's 0.64% expense ratio.

Dividends

HFQAX vs. EQNIX - Dividend Comparison

HFQAX's dividend yield for the trailing twelve months is around 5.79%, less than EQNIX's 10.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQNIX MFS Equity Income Fund	10.34%	12.17%	6.60%	4.05%	6.24%	8.38%	3.71%	2.29%	7.27%	4.75%	2.42%	2.89%
HFQAX Janus Henderson Global Equity Income Fund	5.79%	6.59%	7.96%	7.89%	8.02%	6.92%	7.25%	6.80%	7.66%	6.03%	6.77%	6.60%

Frequently Asked Questions

Can I hold both HFQAX and EQNIX in my portfolio?

HFQAX and EQNIX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HFQAX or EQNIX?

HFQAX has higher volatility (3.78%) compared to EQNIX (2.53%). In terms of maximum drawdown, HFQAX dropped -52.77% vs EQNIX's -36.60%.

Which has better risk-adjusted returns?

HFQAX currently has the higher Sharpe Ratio (2.32 vs 2.21), 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.