HJPNX vs. HFCVX

Last updated Jun 26, 2026

HJPNX (Hennessy Japan Fund) and HFCVX (Hennessy Cornerstone Value Fund) are both mutual funds - HJPNX is a Japan Equities fund managed by Hennessy, while HFCVX is a Large Cap Value Equities fund managed by Hennessy. Over the past 10 years, HJPNX returned 9.80%/yr vs 11.20%/yr for HFCVX. At a 0.47 correlation, their price movements are largely independent. HJPNX charges 1.44%/yr vs 1.23%/yr for HFCVX.

Performance

HJPNX vs. HFCVX - Performance Comparison

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

Returns By Period

In the year-to-date period, HJPNX achieves a 17.40% return, which is significantly higher than HFCVX's 11.32% return. Over the past 10 years, HJPNX has underperformed HFCVX with an annualized return of 9.80%, while HFCVX has yielded a comparatively higher 11.20% annualized return.

HJPNX

• 1D: -1.01%
• 1M: 0.28%
• YTD: 17.40%
• 6M: 17.19%
• 1Y: 31.55%
• 3Y*: 19.54%
• 5Y*: 7.02%
• 10Y*: 9.80%

HFCVX

• 1D: -0.96%
• 1M: -2.52%
• YTD: 11.32%
• 6M: 10.92%
• 1Y: 22.23%
• 3Y*: 15.60%
• 5Y*: 11.55%
• 10Y*: 11.20%

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

HJPNX vs. HFCVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HJPNX Hennessy Japan Fund	17.40%	14.58%	18.72%	22.90%	-30.65%	-3.08%	25.52%	18.04%	-6.57%	32.04%
HFCVX Hennessy Cornerstone Value Fund	11.32%	18.27%	9.59%	5.81%	6.12%	29.94%	-6.39%	20.84%	-9.50%	19.21%

Correlation

The correlation between HJPNX and HFCVX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Nov 4, 2003	0.47

Over the past year, the correlation between HJPNX and HFCVX has dropped to 0.26 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.

Return for Risk

HJPNX vs. HFCVX — Risk / Return Rank

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

HJPNX

HJPNX Risk / Return Rank: 36
HJPNX Sharpe Ratio Rank: 32
HJPNX Sortino Ratio Rank: 31
HJPNX Omega Ratio Rank: 31
HJPNX Calmar Ratio Rank: 44
HJPNX Martin Ratio Rank: 40

HFCVX

HFCVX Risk / Return Rank: 85
HFCVX Sharpe Ratio Rank: 82
HFCVX Sortino Ratio Rank: 81
HFCVX Omega Ratio Rank: 72
HFCVX Calmar Ratio Rank: 97
HFCVX Martin Ratio Rank: 92

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. HFCVX - Risk-Adjusted Trends Comparison

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

	HJPNX	HFCVX	Difference
Sharpe ratio: Return per unit of total volatility	1.35	2.29	-0.94
Sortino ratio: Return per unit of downside risk	1.94	3.27	-1.33
Omega ratio: Gain probability vs. loss probability	1.25	1.39	-0.14
Calmar ratio: Return relative to maximum drawdown	2.22	5.73	-3.51
Martin ratio: Return relative to average drawdown	7.45	16.31	-8.85

HJPNX vs. HFCVX - Sharpe Ratio Comparison

The current HJPNX Sharpe Ratio is 1.35, which is lower than the HFCVX Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of HJPNX and HFCVX, 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

HJPNX vs. HFCVX - Drawdown Comparison

The maximum HJPNX drawdown since its inception was -59.65%, smaller than the maximum HFCVX drawdown of -65.75%. Use the drawdown chart below to compare losses from any high point for HJPNX and HFCVX.

Drawdown Indicators

	HJPNX	HFCVX	Difference
Max Drawdown Largest peak-to-trough decline	-59.65%	-65.75%	+6.10%
Max Drawdown (1Y) Largest decline over 1 year	-14.18%	-3.77%	-10.41%
Max Drawdown (3Y) Largest decline over 3 years	-20.06%	-11.32%	-8.74%
Max Drawdown (5Y) Largest decline over 5 years	-44.72%	-16.81%	-27.91%
Max Drawdown (10Y) Largest decline over 10 years	-44.72%	-39.39%	-5.33%
Current Drawdown Current decline from peak	-4.98%	-3.35%	-1.63%
Average Drawdown Average peak-to-trough decline	-15.53%	-8.22%	-7.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.22%	1.32%	+2.90%

Volatility

HJPNX vs. HFCVX - Volatility Comparison

Hennessy Japan Fund (HJPNX) has a higher volatility of 7.61% compared to Hennessy Cornerstone Value Fund (HFCVX) at 3.14%. This indicates that HJPNX's price experiences larger fluctuations and is considered to be riskier than HFCVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HJPNX	HFCVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.61%	3.14%	+4.47%
Volatility (6M) Calculated over the trailing 6-month period	17.61%	7.07%	+10.54%
Volatility (1Y) Calculated over the trailing 1-year period	23.32%	9.43%	+13.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.20%	13.24%	+7.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.84%	16.40%	+2.44%

HJPNX vs. HFCVX - Expense Ratio Comparison

HJPNX has a 1.44% expense ratio, which is higher than HFCVX's 1.23% expense ratio.

Dividends

HJPNX vs. HFCVX - Dividend Comparison

HJPNX's dividend yield for the trailing twelve months is around 10.93%, more than HFCVX's 6.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HFCVX Hennessy Cornerstone Value Fund	6.64%	7.39%	4.56%	3.57%	10.33%	4.81%	2.58%	6.58%	17.16%	14.97%	2.26%	2.57%
HJPNX Hennessy Japan Fund	10.93%	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 HFCVX in my portfolio?

HJPNX and HFCVX have a correlation of 0.26, 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 HFCVX?

HJPNX has higher volatility (7.61%) compared to HFCVX (3.14%). In terms of maximum drawdown, HJPNX dropped -59.65% vs HFCVX's -65.75%.

Which has better risk-adjusted returns?

HFCVX currently has the higher Sharpe Ratio (2.29 vs 1.35), 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.