HIMDX vs. HAGAX

Last updated Jun 4, 2026

HIMDX (Hennessy Cornerstone Mid Cap 30 Fund Institutional Class) and HAGAX (Carillon Eagle Mid Cap Growth Fund) are both mutual funds - HIMDX is a Mid Cap Blend Equities fund actively managed by Hennessy, while HAGAX is a Mid Cap Growth Equities fund managed by Carillon Family of Funds. Over the past 10 years, HIMDX returned 14.68%/yr vs 11.84%/yr for HAGAX. Their correlation of 0.80 suggests significant overlap in exposure. HIMDX charges 0.95%/yr vs 1.03%/yr for HAGAX.

Performance

HIMDX vs. HAGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hennessy Cornerstone Mid Cap 30 Fund Institutional Class (HIMDX) and Carillon Eagle Mid Cap Growth Fund (HAGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HIMDX achieves a 17.26% return, which is significantly higher than HAGAX's 8.39% return. Over the past 10 years, HIMDX has outperformed HAGAX with an annualized return of 14.68%, while HAGAX has yielded a comparatively lower 11.84% annualized return.

HIMDX

• 1D: -0.18%
• 1M: 3.15%
• YTD: 17.26%
• 6M: 17.76%
• 1Y: 28.09%
• 3Y*: 24.74%
• 5Y*: 16.60%
• 10Y*: 14.68%

HAGAX

• 1D: 0.49%
• 1M: 5.05%
• YTD: 8.39%
• 6M: 5.45%
• 1Y: 9.85%
• 3Y*: 12.33%
• 5Y*: 4.49%
• 10Y*: 11.84%

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

HIMDX vs. HAGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HIMDX Hennessy Cornerstone Mid Cap 30 Fund Institutional Class	17.26%	3.04%	34.59%	31.31%	3.10%	27.77%	23.82%	16.02%	-23.18%	21.17%
HAGAX Carillon Eagle Mid Cap Growth Fund	8.39%	4.50%	12.64%	19.76%	-25.85%	11.19%	39.79%	34.50%	-6.45%	29.90%

Correlation

The correlation between HIMDX and HAGAX is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jan 5, 2009	0.80

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

Return for Risk

HIMDX vs. HAGAX — Risk / Return Rank

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

HIMDX

HIMDX Risk / Return Rank: 28
HIMDX Sharpe Ratio Rank: 23
HIMDX Sortino Ratio Rank: 21
HIMDX Omega Ratio Rank: 20
HIMDX Calmar Ratio Rank: 39
HIMDX Martin Ratio Rank: 36

HAGAX

HAGAX Risk / Return Rank: 9
HAGAX Sharpe Ratio Rank: 8
HAGAX Sortino Ratio Rank: 8
HAGAX Omega Ratio Rank: 8
HAGAX Calmar Ratio Rank: 9
HAGAX Martin Ratio Rank: 10

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.

HIMDX vs. HAGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hennessy Cornerstone Mid Cap 30 Fund Institutional Class (HIMDX) and Carillon Eagle Mid Cap Growth Fund (HAGAX). 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.

	HIMDX	HAGAX	Difference
Sharpe ratio: Return per unit of total volatility	1.39	0.66	+0.73
Sortino ratio: Return per unit of downside risk	1.94	1.04	+0.90
Omega ratio: Gain probability vs. loss probability	1.24	1.12	+0.12
Calmar ratio: Return relative to maximum drawdown	2.36	0.89	+1.47
Martin ratio: Return relative to average drawdown	7.96	2.97	+5.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HIMDX vs. HAGAX - Sharpe Ratio Comparison

The current HIMDX Sharpe Ratio is 1.39, which is higher than the HAGAX Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of HIMDX and HAGAX, 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

	HIMDX	HAGAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	0.66	+0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.21	+0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.54	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.46	+0.20

Drawdowns

HIMDX vs. HAGAX - Drawdown Comparison

The maximum HIMDX drawdown since its inception was -55.79%, which is greater than HAGAX's maximum drawdown of -52.32%. Use the drawdown chart below to compare losses from any high point for HIMDX and HAGAX.

Drawdown Indicators

	HIMDX	HAGAX	Difference
Max Drawdown Largest peak-to-trough decline	-55.79%	-52.32%	-3.47%
Max Drawdown (1Y) Largest decline over 1 year	-12.62%	-12.53%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	-27.65%	-26.77%	-0.88%
Max Drawdown (5Y) Largest decline over 5 years	-27.65%	-34.36%	+6.71%
Max Drawdown (10Y) Largest decline over 10 years	-55.79%	-37.05%	-18.74%
Current Drawdown Current decline from peak	-1.76%	0.00%	-1.76%
Average Drawdown Average peak-to-trough decline	-7.17%	-12.64%	+5.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.73%	3.75%	-0.02%

Volatility

HIMDX vs. HAGAX - Volatility Comparison

Hennessy Cornerstone Mid Cap 30 Fund Institutional Class (HIMDX) has a higher volatility of 6.32% compared to Carillon Eagle Mid Cap Growth Fund (HAGAX) at 3.76%. This indicates that HIMDX's price experiences larger fluctuations and is considered to be riskier than HAGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIMDX	HAGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.32%	3.76%	+2.56%
Volatility (6M) Calculated over the trailing 6-month period	15.81%	13.27%	+2.54%
Volatility (1Y) Calculated over the trailing 1-year period	21.47%	16.88%	+4.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.35%	21.90%	+1.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.08%	21.83%	+3.25%

HIMDX vs. HAGAX - Expense Ratio Comparison

HIMDX has a 0.95% expense ratio, which is lower than HAGAX's 1.03% expense ratio.

Dividends

HIMDX vs. HAGAX - Dividend Comparison

HIMDX's dividend yield for the trailing twelve months is around 0.89%, less than HAGAX's 12.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HAGAX Carillon Eagle Mid Cap Growth Fund	12.78%	13.86%	13.00%	11.74%	1.41%	10.82%	2.26%	2.19%	5.95%	2.69%	0.00%	1.67%
HIMDX Hennessy Cornerstone Mid Cap 30 Fund Institutional Class	0.89%	1.05%	19.21%	9.61%	21.65%	1.71%	0.00%	0.00%	40.44%	18.62%	0.64%	1.10%

Frequently Asked Questions

Can I hold both HIMDX and HAGAX in my portfolio?

HIMDX and HAGAX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HIMDX or HAGAX?

HIMDX has higher volatility (6.32%) compared to HAGAX (3.76%). In terms of maximum drawdown, HIMDX dropped -55.79% vs HAGAX's -52.32%.

Which has better risk-adjusted returns?

HIMDX currently has the higher Sharpe Ratio (1.39 vs 0.66), 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.