HJPNX vs. HFCGX

Last updated Jun 5, 2026

HJPNX (Hennessy Japan Fund) and HFCGX (Hennessy Cornerstone Growth Fund) are both mutual funds - HJPNX is a Japan Equities fund managed by Hennessy, while HFCGX is a Small Cap Blend Equities fund managed by Hennessy. Over the past 10 years, HJPNX returned 9.80%/yr vs 12.91%/yr for HFCGX. At a 0.46 correlation, their price movements are largely independent. HJPNX charges 1.44%/yr vs 1.34%/yr for HFCGX.

Performance

HJPNX vs. HFCGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hennessy Japan Fund (HJPNX) and Hennessy Cornerstone Growth Fund (HFCGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HJPNX achieves a 20.44% return, which is significantly higher than HFCGX's 16.49% return. Over the past 10 years, HJPNX has underperformed HFCGX with an annualized return of 9.80%, while HFCGX has yielded a comparatively higher 12.91% annualized return.

HJPNX

• 1D: 1.19%
• 1M: 9.97%
• YTD: 20.44%
• 6M: 20.50%
• 1Y: 31.96%
• 3Y*: 20.75%
• 5Y*: 7.72%
• 10Y*: 9.80%

HFCGX

• 1D: -0.05%
• 1M: 5.14%
• YTD: 16.49%
• 6M: 17.87%
• 1Y: 24.28%
• 3Y*: 25.16%
• 5Y*: 13.50%
• 10Y*: 12.91%

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

HJPNX vs. HFCGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HJPNX Hennessy Japan Fund	20.44%	14.58%	18.72%	22.90%	-30.65%	-3.08%	25.52%	18.04%	-6.57%	32.04%
HFCGX Hennessy Cornerstone Growth Fund	16.49%	4.78%	31.45%	19.58%	-4.97%	29.94%	17.73%	20.70%	-21.39%	16.60%

Correlation

The correlation between HJPNX and HFCGX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Nov 5, 2003	0.46

The correlation between HJPNX and HFCGX shifts across timeframes, from 0.40 (1 year) to 0.52 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

HJPNX vs. HFCGX — Risk / Return Rank

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

HJPNX

HJPNX Risk / Return Rank: 30
HJPNX Sharpe Ratio Rank: 26
HJPNX Sortino Ratio Rank: 25
HJPNX Omega Ratio Rank: 26
HJPNX Calmar Ratio Rank: 38
HJPNX Martin Ratio Rank: 35

HFCGX

HFCGX Risk / Return Rank: 45
HFCGX Sharpe Ratio Rank: 39
HFCGX Sortino Ratio Rank: 40
HFCGX Omega Ratio Rank: 35
HFCGX Calmar Ratio Rank: 61
HFCGX Martin Ratio Rank: 48

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.

HJPNX vs. HFCGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hennessy Japan Fund (HJPNX) and Hennessy Cornerstone Growth Fund (HFCGX). 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.

	HJPNX	HFCGX	Difference
Sharpe ratio: Return per unit of total volatility	1.45	1.81	-0.36
Sortino ratio: Return per unit of downside risk	2.07	2.65	-0.58
Omega ratio: Gain probability vs. loss probability	1.26	1.31	-0.05
Calmar ratio: Return relative to maximum drawdown	2.32	3.00	-0.68
Martin ratio: Return relative to average drawdown	7.80	9.88	-2.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HJPNX vs. HFCGX - Sharpe Ratio Comparison

The current HJPNX Sharpe Ratio is 1.45, which is comparable to the HFCGX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of HJPNX and HFCGX, 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

	HJPNX	HFCGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.45	1.81	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.56	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.50	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.39	+0.06

Drawdowns

HJPNX vs. HFCGX - Drawdown Comparison

The maximum HJPNX drawdown since its inception was -59.65%, roughly equal to the maximum HFCGX drawdown of -62.35%. Use the drawdown chart below to compare losses from any high point for HJPNX and HFCGX.

Drawdown Indicators

	HJPNX	HFCGX	Difference
Max Drawdown Largest peak-to-trough decline	-59.65%	-62.35%	+2.70%
Max Drawdown (1Y) Largest decline over 1 year	-14.18%	-7.82%	-6.36%
Max Drawdown (3Y) Largest decline over 3 years	-20.06%	-22.86%	+2.80%
Max Drawdown (5Y) Largest decline over 5 years	-44.72%	-26.30%	-18.42%
Max Drawdown (10Y) Largest decline over 10 years	-44.72%	-54.22%	+9.50%
Current Drawdown Current decline from peak	0.00%	-0.05%	+0.05%
Average Drawdown Average peak-to-trough decline	-15.57%	-15.23%	-0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.21%	2.37%	+1.84%

Volatility

HJPNX vs. HFCGX - Volatility Comparison

Hennessy Japan Fund (HJPNX) and Hennessy Cornerstone Growth Fund (HFCGX) have volatilities of 4.26% and 4.46%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HJPNX	HFCGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	4.46%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	16.68%	9.45%	+7.23%
Volatility (1Y) Calculated over the trailing 1-year period	22.64%	12.93%	+9.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.00%	24.06%	-3.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.80%	25.81%	-7.01%

HJPNX vs. HFCGX - Expense Ratio Comparison

HJPNX has a 1.44% expense ratio, which is higher than HFCGX's 1.34% expense ratio.

Dividends

HJPNX vs. HFCGX - Dividend Comparison

HJPNX's dividend yield for the trailing twelve months is around 10.65%, while HFCGX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HFCGX Hennessy Cornerstone Growth Fund	0.00%	0.00%	14.11%	0.38%	3.58%	26.58%	0.00%	0.00%	10.47%	0.00%	0.00%	0.11%
HJPNX Hennessy Japan Fund	10.65%	12.83%	5.80%	5.87%	0.00%	0.89%	0.00%	0.13%	0.04%	0.02%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HJPNX and HFCGX in my portfolio?

HJPNX and HFCGX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HJPNX or HFCGX?

HFCGX has higher volatility (4.46%) compared to HJPNX (4.26%). In terms of maximum drawdown, HJPNX dropped -59.65% vs HFCGX's -62.35%.

Which has better risk-adjusted returns?

HFCGX currently has the higher Sharpe Ratio (1.81 vs 1.45), 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.