HIMDX vs. HNRIX

Last updated Jun 24, 2026

HIMDX (Hennessy Cornerstone Mid Cap 30 Fund Institutional Class) and HNRIX (Hennessy Energy Transition Fund) are both mutual funds - HIMDX is a Mid Cap Blend Equities fund actively managed by Hennessy, while HNRIX is a Energy Equities fund managed by Hennessy. Over the past 5 years, HIMDX returned 17.63%/yr vs 19.71%/yr for HNRIX. A 0.60 correlation means they provide meaningful diversification when combined. HIMDX charges 0.95%/yr vs 1.92%/yr for HNRIX.

Performance

HIMDX vs. HNRIX - 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 Hennessy Energy Transition Fund (HNRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with HIMDX having a 18.75% return and HNRIX slightly higher at 18.99%.

HIMDX

• 1D: 0.59%
• 1M: 5.03%
• YTD: 18.75%
• 6M: 16.50%
• 1Y: 27.00%
• 3Y*: 24.66%
• 5Y*: 17.63%
• 10Y*: 15.30%

HNRIX

• 1D: 0.94%
• 1M: -8.30%
• YTD: 18.99%
• 6M: 19.41%
• 1Y: 28.15%
• 3Y*: 20.04%
• 5Y*: 19.71%
• 10Y*: —

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

HIMDX vs. HNRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
HIMDX Hennessy Cornerstone Mid Cap 30 Fund Institutional Class	18.75%	3.04%	34.59%	31.31%	3.10%	27.77%	23.82%	16.02%	-10.45%
HNRIX Hennessy Energy Transition Fund	18.99%	12.87%	13.84%	4.09%	47.97%	55.91%	-25.63%	6.05%	-23.32%

Correlation

The correlation between HIMDX and HNRIX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Nov 1, 2018	0.60

Over the past year, the correlation between HIMDX and HNRIX has dropped to 0.11 - well below their long-term average of 0.60, suggesting their price drivers have been diverging.

Return for Risk

HIMDX vs. HNRIX — 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: 24
HIMDX Sortino Ratio Rank: 23
HIMDX Omega Ratio Rank: 22
HIMDX Calmar Ratio Rank: 38
HIMDX Martin Ratio Rank: 35

HNRIX

HNRIX Risk / Return Rank: 28
HNRIX Sharpe Ratio Rank: 25
HNRIX Sortino Ratio Rank: 23
HNRIX Omega Ratio Rank: 21
HNRIX Calmar Ratio Rank: 35
HNRIX Martin Ratio Rank: 34

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. HNRIX - 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 Hennessy Energy Transition Fund (HNRIX). 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.

	HIMDX	HNRIX	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.31	-0.04
Sortino ratio: Return per unit of downside risk	1.83	1.82	+0.02
Omega ratio: Gain probability vs. loss probability	1.22	1.22	0.00
Calmar ratio: Return relative to maximum drawdown	2.22	2.12	+0.10
Martin ratio: Return relative to average drawdown	7.42	7.21	+0.21

HIMDX vs. HNRIX - Sharpe Ratio Comparison

The current HIMDX Sharpe Ratio is 1.27, which is comparable to the HNRIX Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of HIMDX and HNRIX, 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

HIMDX vs. HNRIX - Drawdown Comparison

The maximum HIMDX drawdown since its inception was -55.79%, smaller than the maximum HNRIX drawdown of -74.75%. Use the drawdown chart below to compare losses from any high point for HIMDX and HNRIX.

Drawdown Indicators

	HIMDX	HNRIX	Difference
Max Drawdown Largest peak-to-trough decline	-55.79%	-74.75%	+18.96%
Max Drawdown (1Y) Largest decline over 1 year	-12.62%	-11.78%	-0.84%
Max Drawdown (3Y) Largest decline over 3 years	-27.65%	-19.19%	-8.46%
Max Drawdown (5Y) Largest decline over 5 years	-27.65%	-28.56%	+0.91%
Max Drawdown (10Y) Largest decline over 10 years	-55.79%	—	—
Current Drawdown Current decline from peak	-0.69%	-10.95%	+10.26%
Average Drawdown Average peak-to-trough decline	-7.15%	-15.21%	+8.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.77%	3.54%	+0.23%

Volatility

HIMDX vs. HNRIX - Volatility Comparison

Hennessy Cornerstone Mid Cap 30 Fund Institutional Class (HIMDX) has a higher volatility of 7.33% compared to Hennessy Energy Transition Fund (HNRIX) at 6.63%. This indicates that HIMDX's price experiences larger fluctuations and is considered to be riskier than HNRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIMDX	HNRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.33%	6.63%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	16.50%	14.23%	+2.27%
Volatility (1Y) Calculated over the trailing 1-year period	22.07%	19.04%	+3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.41%	26.50%	-3.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.14%	34.74%	-9.60%

HIMDX vs. HNRIX - Expense Ratio Comparison

HIMDX has a 0.95% expense ratio, which is lower than HNRIX's 1.92% expense ratio.

Dividends

HIMDX vs. HNRIX - Dividend Comparison

HIMDX's dividend yield for the trailing twelve months is around 0.88%, more than HNRIX's 0.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HIMDX Hennessy Cornerstone Mid Cap 30 Fund Institutional Class	0.88%	1.05%	19.21%	9.61%	21.65%	1.71%	0.00%	0.00%	40.44%	18.62%	0.64%	1.10%
HNRIX Hennessy Energy Transition Fund	0.65%	0.77%	0.14%	0.00%	0.76%	13.34%	0.00%	0.22%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HIMDX and HNRIX in my portfolio?

HIMDX and HNRIX have a correlation of 0.11, 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 HNRIX?

HIMDX has higher volatility (7.33%) compared to HNRIX (6.63%). In terms of maximum drawdown, HIMDX dropped -55.79% vs HNRIX's -74.75%.

Which has better risk-adjusted returns?

HNRIX currently has the higher Sharpe Ratio (1.31 vs 1.27), 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.