HJPSX vs. FXI
HJPSX (Hennessy Japan Small Cap Fund) and FXI (iShares China Large-Cap ETF) are both funds - HJPSX is a Japan Equities fund managed by Hennessy, while FXI is a China Equities fund tracking the FTSE China 50 Index. Over the past 10 years, HJPSX returned 10.57%/yr vs 3.13%/yr for FXI. At a 0.37 correlation, their price movements are largely independent. HJPSX charges 1.57%/yr vs 0.74%/yr for FXI.
Performance
HJPSX vs. FXI - Performance Comparison
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Returns By Period
In the year-to-date period, HJPSX achieves a 12.79% return, which is significantly higher than FXI's -7.83% return. Over the past 10 years, HJPSX has outperformed FXI with an annualized return of 10.57%, while FXI has yielded a comparatively lower 3.13% annualized return.
HJPSX
- 1D
- 1.71%
- 1M
- -1.79%
- YTD
- 12.79%
- 6M
- 15.92%
- 1Y
- 30.46%
- 3Y*
- 18.80%
- 5Y*
- 8.15%
- 10Y*
- 10.57%
FXI
- 1D
- 1.09%
- 1M
- -2.51%
- YTD
- -7.83%
- 6M
- -8.72%
- 1Y
- -1.10%
- 3Y*
- 10.41%
- 5Y*
- -3.08%
- 10Y*
- 3.13%
HJPSX vs. FXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HJPSX Hennessy Japan Small Cap Fund | 12.79% | 29.02% | 8.24% | 16.30% | -16.35% | -4.64% | 13.43% | 19.97% | -12.56% | 49.60% |
FXI iShares China Large-Cap ETF | -7.83% | 28.95% | 28.98% | -12.42% | -20.66% | -20.06% | 8.92% | 14.90% | -13.28% | 36.26% |
Correlation
The correlation between HJPSX and FXI is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2007 | 0.37 |
The correlation between HJPSX and FXI shifts across timeframes, from 0.27 (1 year) to 0.38 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
HJPSX vs. FXI — Risk / Return Rank
HJPSX
FXI
HJPSX vs. FXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hennessy Japan Small Cap Fund (HJPSX) and iShares China Large-Cap ETF (FXI). 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.
| HJPSX | FXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.85 | ||
| Sortino ratioReturn per unit of downside risk | +2.43 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.99 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.02 | -0.18 | +2.20 |
| Martin ratioReturn relative to average drawdown | 6.15 | -0.38 | +6.53 |
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Drawdowns
HJPSX vs. FXI - Drawdown Comparison
The maximum HJPSX drawdown since its inception was -47.91%, smaller than the maximum FXI drawdown of -72.68%. Use the drawdown chart below to compare losses from any high point for HJPSX and FXI.
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Drawdown Indicators
| HJPSX | FXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.91% | -72.68% | +24.77% |
Max Drawdown (1Y)Largest decline over 1 year | -14.77% | -16.03% | +1.26% |
Max Drawdown (3Y)Largest decline over 3 years | -14.77% | -28.72% | +13.95% |
Max Drawdown (5Y)Largest decline over 5 years | -33.24% | -54.94% | +21.70% |
Max Drawdown (10Y)Largest decline over 10 years | -34.80% | -60.81% | +26.01% |
Current DrawdownCurrent decline from peak | -4.60% | -27.42% | +22.82% |
Average DrawdownAverage peak-to-trough decline | -10.05% | -31.21% | +21.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.83% | 7.66% | -2.83% |
Volatility
HJPSX vs. FXI - Volatility Comparison
The current volatility for Hennessy Japan Small Cap Fund (HJPSX) is 4.08%, while iShares China Large-Cap ETF (FXI) has a volatility of 6.22%. This indicates that HJPSX experiences smaller price fluctuations and is considered to be less risky than FXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HJPSX | FXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.08% | 6.22% | -2.14% |
Volatility (6M)Calculated over the trailing 6-month period | 13.52% | 14.30% | -0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.47% | 19.90% | -2.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.27% | 31.67% | -14.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.75% | 27.64% | -9.89% |
HJPSX vs. FXI - Expense Ratio Comparison
HJPSX has a 1.57% expense ratio, which is higher than FXI's 0.74% expense ratio.
Dividends
HJPSX vs. FXI - Dividend Comparison
HJPSX's dividend yield for the trailing twelve months is around 11.74%, more than FXI's 2.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXI iShares China Large-Cap ETF | 2.62% | 2.42% | 1.76% | 3.17% | 2.61% | 1.60% | 2.19% | 2.74% | 2.69% | 2.31% | 2.69% | 2.90% |
HJPSX Hennessy Japan Small Cap Fund | 11.74% | 13.25% | 3.64% | 0.85% | 0.61% | 0.43% | 0.23% | 1.30% | 3.46% | 2.09% | 2.03% | 3.34% |
Frequently Asked Questions
HJPSX and FXI have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXI has higher volatility (6.22%) compared to HJPSX (4.08%). In terms of maximum drawdown, HJPSX dropped -47.91% vs FXI's -72.68%.
HJPSX currently has the higher Sharpe Ratio (1.71 vs -0.15), 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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