HJPNX vs. HMSIX

Last updated Apr 2, 2026

Compare and contrast key facts about Hennessy Japan Fund (HJPNX) and Hennessy Midstream Fund (HMSIX).

HJPNX is managed by Hennessy. It was launched on Oct 30, 2003. HMSIX is managed by Hennessy. It was launched on Dec 30, 2013.

Performance

HJPNX vs. HMSIX - Performance Comparison

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

HJPNX vs. HMSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
HJPNX Hennessy Japan Fund	2.38%	14.58%	18.72%	22.90%	-30.65%	-3.08%	25.52%	18.04%	-8.87%
HMSIX Hennessy Midstream Fund	16.15%	-0.49%	36.21%	23.75%	29.15%	36.58%	-31.00%	11.97%	-20.24%

Returns By Period

In the year-to-date period, HJPNX achieves a 2.38% return, which is significantly lower than HMSIX's 16.15% return.

HJPNX

• 1D: 4.00%
• 1M: -3.85%
• YTD: 2.38%
• 6M: 4.49%
• 1Y: 20.75%
• 3Y*: 16.90%
• 5Y*: 3.66%
• 10Y*: 9.01%

HMSIX

• 1D: -1.27%
• 1M: 0.80%
• YTD: 16.15%
• 6M: 17.23%
• 1Y: 6.30%
• 3Y*: 24.01%
• 5Y*: 23.40%
• 10Y*: —

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

HJPNX vs. HMSIX - Expense Ratio Comparison

HJPNX has a 1.44% expense ratio, which is lower than HMSIX's 1.51% expense ratio.

HMSIX

Hennessy Midstream Fund

HJPNX

Hennessy Japan Fund

Return for Risk

HJPNX vs. HMSIX — Risk / Return Rank

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

HJPNX

HJPNX Risk / Return Rank: 38
HJPNX Sharpe Ratio Rank: 33
HJPNX Sortino Ratio Rank: 37
HJPNX Omega Ratio Rank: 30
HJPNX Calmar Ratio Rank: 49
HJPNX Martin Ratio Rank: 40

HMSIX

HMSIX Risk / Return Rank: 12
HMSIX Sharpe Ratio Rank: 12
HMSIX Sortino Ratio Rank: 11
HMSIX Omega Ratio Rank: 12
HMSIX Calmar Ratio Rank: 14
HMSIX Martin Ratio Rank: 9

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. HMSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hennessy Japan Fund (HJPNX) and Hennessy Midstream Fund (HMSIX). 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	HMSIX	Difference
Sharpe ratio Return per unit of total volatility	0.81	0.36	+0.45
Sortino ratio Return per unit of downside risk	1.26	0.58	+0.68
Omega ratio Gain probability vs. loss probability	1.17	1.09	+0.08
Calmar ratio Return relative to maximum drawdown	1.31	0.46	+0.85
Martin ratio Return relative to average drawdown	4.46	0.77	+3.69
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. HMSIX - Sharpe Ratio Comparison

The current HJPNX Sharpe Ratio is 0.81, which is higher than the HMSIX Sharpe Ratio of 0.36. The chart below compares the historical Sharpe Ratios of HJPNX and HMSIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HJPNX	HMSIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.81	0.36	+0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	1.16	-0.98
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.36	+0.05

Correlation

The correlation between HJPNX and HMSIX is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

HJPNX vs. HMSIX - Dividend Comparison

HJPNX's dividend yield for the trailing twelve months is around 12.53%, more than HMSIX's 7.39% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
HJPNX Hennessy Japan Fund	12.53%	12.83%	5.80%	5.87%	0.00%	0.89%	0.00%	0.13%	0.04%	0.02%
HMSIX Hennessy Midstream Fund	7.39%	8.42%	7.74%	9.70%	10.84%	12.61%	15.17%	9.10%	4.67%	0.00%

Drawdowns

HJPNX vs. HMSIX - Drawdown Comparison

The maximum HJPNX drawdown since its inception was -59.65%, smaller than the maximum HMSIX drawdown of -68.43%. Use the drawdown chart below to compare losses from any high point for HJPNX and HMSIX.

Drawdown Indicators

	HJPNX	HMSIX	Difference
Max Drawdown Largest peak-to-trough decline	-59.65%	-68.43%	+8.78%
Max Drawdown (1Y) Largest decline over 1 year	-14.18%	-15.22%	+1.04%
Max Drawdown (5Y) Largest decline over 5 years	-44.72%	-21.17%	-23.55%
Max Drawdown (10Y) Largest decline over 10 years	-44.72%	—	—
Current Drawdown Current decline from peak	-8.36%	-2.18%	-6.18%
Average Drawdown Average peak-to-trough decline	-15.67%	-12.46%	-3.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.17%	9.07%	-4.90%

Volatility

HJPNX vs. HMSIX - Volatility Comparison

Hennessy Japan Fund (HJPNX) has a higher volatility of 11.22% compared to Hennessy Midstream Fund (HMSIX) at 4.05%. This indicates that HJPNX's price experiences larger fluctuations and is considered to be riskier than HMSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HJPNX	HMSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.22%	4.05%	+7.17%
Volatility (6M) Calculated over the trailing 6-month period	18.09%	10.23%	+7.86%
Volatility (1Y) Calculated over the trailing 1-year period	24.95%	19.25%	+5.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.91%	20.27%	+0.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.79%	29.62%	-10.83%