HJPNX vs. JPXN
HJPNX (Hennessy Japan Fund) and JPXN (iShares JPX-Nikkei 400 ETF) are both Japan Equities funds. Over the past 10 years, HJPNX returned 9.68%/yr vs 8.94%/yr for JPXN. Their 0.76 correlation means they have sometimes moved together and sometimes differently. HJPNX charges 1.44%/yr vs 0.48%/yr for JPXN.
Performance
HJPNX vs. JPXN - Performance Comparison
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Returns By Period
In the year-to-date period, HJPNX achieves a 21.93% return, which is significantly higher than JPXN's 15.79% return. Over the past 10 years, HJPNX has outperformed JPXN with an annualized return of 9.68%, while JPXN has yielded a comparatively lower 8.94% annualized return.
HJPNX
- 1D
- 3.32%
- 1M
- 1.59%
- 6M
- 17.79%
- YTD
- 21.93%
- 1Y
- 35.58%
- 3Y*
- 20.03%
- 5Y*
- 7.71%
- 10Y*
- 9.68%
- ALL TIME*
- 8.69%
JPXN
- 1D
- -0.66%
- 1M
- -0.21%
- 6M
- 8.81%
- YTD
- 15.79%
- 1Y
- 29.28%
- 3Y*
- 17.25%
- 5Y*
- 9.47%
- 10Y*
- 8.94%
- ALL TIME*
- 5.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
HJPNX Hennessy Japan Fund | $0.00 | $0.00 | $0.00 |
| $679.00K | $875.75K | $1.41M |
HJPNX vs. JPXN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HJPNX Hennessy Japan Fund | 21.93% | 14.58% | 18.72% | 22.90% | -30.65% | -3.08% | 25.52% | 18.04% | -6.57% | 32.04% |
JPXN iShares JPX-Nikkei 400 ETF | 15.79% | 26.03% | 6.48% | 19.69% | -16.29% | 0.16% | 15.12% | 19.40% | -14.87% | 24.41% |
Correlation
The correlation between HJPNX and JPXN is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.86 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Nov 4, 2003 | 0.76 |
The correlation between HJPNX and JPXN shifts across timeframes, from 0.76 (all time) to 0.88 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HJPNX vs. JPXN — Risk / Return Rank
HJPNX
JPXN
HJPNX vs. JPXN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hennessy Japan Fund (HJPNX) and iShares JPX-Nikkei 400 ETF (JPXN). 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 | JPXN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.28 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 2.33 | +0.08 |
| Martin ratioReturn relative to average drawdown | 8.12 | 7.90 | +0.22 |
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Drawdowns
HJPNX vs. JPXN - Drawdown Comparison
The maximum HJPNX drawdown since its inception was -59.65%, which is greater than JPXN's maximum drawdown of -55.54%. Use the drawdown chart below to compare losses from any high point for HJPNX and JPXN.
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Drawdown Indicators
| HJPNX | JPXN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.65% | -55.54% | -4.11% |
Max Drawdown (1Y)Largest decline over 1 year | -14.18% | -13.11% | -1.07% |
Max Drawdown (3Y)Largest decline over 3 years | -20.06% | -13.95% | -6.11% |
Max Drawdown (5Y)Largest decline over 5 years | -44.72% | -33.21% | -11.51% |
Max Drawdown (10Y)Largest decline over 10 years | -44.72% | -33.21% | -11.51% |
Current DrawdownCurrent decline from peak | -1.50% | -2.61% | +1.11% |
Average DrawdownAverage peak-to-trough decline | -15.48% | -14.98% | -0.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.20% | 3.86% | +0.34% |
Volatility
HJPNX vs. JPXN - Volatility Comparison
Hennessy Japan Fund (HJPNX) and iShares JPX-Nikkei 400 ETF (JPXN) have volatilities of 7.09% and 6.83%, 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.
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Volatility by Period
| HJPNX | JPXN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.09% | 6.83% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 18.26% | 16.65% | +1.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.61% | 19.79% | +3.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.33% | 18.00% | +3.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.92% | 17.11% | +1.81% |
HJPNX vs. JPXN - Expense Ratio Comparison
HJPNX has a 1.44% expense ratio, which is higher than JPXN's 0.48% expense ratio.
Dividends
HJPNX vs. JPXN - Dividend Comparison
HJPNX's dividend yield for the trailing twelve months is around 10.52%, more than JPXN's 2.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HJPNX Hennessy Japan Fund | 10.52% | 12.83% | 5.80% | 5.87% | 0.00% | 0.89% | 0.00% | 0.13% | 0.04% | 0.02% | 0.00% | 0.00% |
JPXN iShares JPX-Nikkei 400 ETF | 2.76% | 3.14% | 2.29% | 2.57% | 1.47% | 2.63% | 1.27% | 1.92% | 1.60% | 1.50% | 2.07% | 1.32% |
Frequently Asked Questions
HJPNX and JPXN have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HJPNX has higher volatility (7.09%) compared to JPXN (6.83%). In terms of maximum drawdown, HJPNX dropped -59.65% vs JPXN's -55.54%.
JPXN currently has the higher Sharpe Ratio (1.55 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.
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