HLFNX vs. RYKIX

Last updated Aug 1, 2026

HLFNX (Hennessy Large Cap Financial Fund) and RYKIX (Rydex Banking Fund) are both Financials Equities funds. Over the past 10 years, HLFNX returned 11.82%/yr vs 10.93%/yr for RYKIX. Their correlation of 0.91 means they have usually moved in the same direction. HLFNX charges 1.68%/yr vs 1.36%/yr for RYKIX.

Performance

HLFNX vs. RYKIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hennessy Large Cap Financial Fund (HLFNX) and Rydex Banking Fund (RYKIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HLFNX achieves a 3.46% return, which is significantly lower than RYKIX's 14.12% return. Over the past 10 years, HLFNX has outperformed RYKIX with an annualized return of 11.82%, while RYKIX has yielded a comparatively lower 10.93% annualized return.

HLFNX

• 1D: 1.09%
• 1M: 1.30%
• 6M: 6.90%
• YTD: 3.46%
• 1Y: 11.35%
• 3Y*: 19.53%
• 5Y*: 5.07%
• 10Y*: 11.82%
• ALL TIME*: 5.13%

RYKIX

• 1D: 1.15%
• 1M: 1.84%
• 6M: 10.95%
• YTD: 14.12%
• 1Y: 32.27%
• 3Y*: 23.78%
• 5Y*: 10.28%
• 10Y*: 10.93%
• ALL TIME*: 2.62%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HLFNX Hennessy Large Cap Financial Fund	$0.00	$0.00	$0.00
RYKIX Rydex Banking Fund	$0.00	$0.00	$0.00

HLFNX vs. RYKIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HLFNX Hennessy Large Cap Financial Fund	3.46%	22.07%	28.45%	4.58%	-24.88%	18.96%	16.55%	29.75%	-11.78%	19.42%
RYKIX Rydex Banking Fund	14.12%	23.92%	23.33%	2.95%	-16.81%	33.70%	-7.85%	28.51%	-19.19%	12.47%

Correlation

The correlation between HLFNX and RYKIX is 0.87, 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.	0.87
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (10Y) Provides a long-term view across more market conditions.	0.86
Correlation (All Time) Calculated using the full available price history since Jan 4, 1999	0.91

The correlation between HLFNX and RYKIX has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.

Return for Risk

HLFNX vs. RYKIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HLFNX

HLFNX Risk / Return Rank: 9
HLFNX Sharpe Ratio Rank: 9
HLFNX Sortino Ratio Rank: 9
HLFNX Omega Ratio Rank: 9
HLFNX Calmar Ratio Rank: 8
HLFNX Martin Ratio Rank: 8

RYKIX

RYKIX Risk / Return Rank: 49
RYKIX Sharpe Ratio Rank: 56
RYKIX Sortino Ratio Rank: 52
RYKIX Omega Ratio Rank: 54
RYKIX Calmar Ratio Rank: 47
RYKIX Martin Ratio Rank: 35

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HLFNX vs. RYKIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hennessy Large Cap Financial Fund (HLFNX) and Rydex Banking Fund (RYKIX). 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.

	HLFNX	RYKIX	Difference
Sharpe ratio: Return per unit of total volatility	0.33	1.48	-1.14
Sortino ratio: Return per unit of downside risk	0.58	2.04	-1.46
Omega ratio: Gain probability vs. loss probability	1.07	1.27	-0.19
Calmar ratio: Return relative to maximum drawdown	0.36	1.86	-1.50
Martin ratio: Return relative to average drawdown	0.88	5.41	-4.53

HLFNX vs. RYKIX - Sharpe Ratio Comparison

The current HLFNX Sharpe Ratio is 0.33, which is lower than the RYKIX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of HLFNX and RYKIX, 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

HLFNX vs. RYKIX - Drawdown Comparison

The maximum HLFNX drawdown since its inception was -71.74%, smaller than the maximum RYKIX drawdown of -80.14%. Use the drawdown chart below to compare losses from any high point for HLFNX and RYKIX.

Drawdown Indicators

	HLFNX	RYKIX	Difference
Max Drawdown Largest peak-to-trough decline	-71.74%	-80.14%	+8.40%
Max Drawdown (1Y) Largest decline over 1 year	-18.44%	-15.25%	-3.19%
Max Drawdown (3Y) Largest decline over 3 years	-24.02%	-23.79%	-0.23%
Max Drawdown (5Y) Largest decline over 5 years	-44.03%	-43.99%	-0.04%
Max Drawdown (10Y) Largest decline over 10 years	-44.03%	-51.08%	+7.05%
Current Drawdown Current decline from peak	-0.95%	-1.71%	+0.76%
Average Drawdown Average peak-to-trough decline	-21.19%	-27.31%	+6.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.50%	5.23%	+2.27%

Volatility

HLFNX vs. RYKIX - Volatility Comparison

Hennessy Large Cap Financial Fund (HLFNX) and Rydex Banking Fund (RYKIX) have volatilities of 5.34% and 5.30%, 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

	HLFNX	RYKIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.34%	5.30%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	14.55%	14.52%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	19.70%	19.19%	+0.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.89%	24.91%	-1.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.15%	27.85%	-3.70%

HLFNX vs. RYKIX - Expense Ratio Comparison

HLFNX has a 1.68% expense ratio, which is higher than RYKIX's 1.36% expense ratio.

Dividends

HLFNX vs. RYKIX - Dividend Comparison

HLFNX's dividend yield for the trailing twelve months is around 7.66%, more than RYKIX's 2.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HLFNX Hennessy Large Cap Financial Fund	7.66%	7.92%	0.56%	1.72%	7.39%	5.16%	0.00%	0.00%	3.15%	4.60%	0.54%	10.23%
RYKIX Rydex Banking Fund	2.91%	3.32%	3.29%	1.46%	3.11%	0.48%	2.90%	0.59%	2.32%	0.36%	0.41%	0.48%

Frequently Asked Questions

Can I hold both HLFNX and RYKIX in my portfolio?

HLFNX and RYKIX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HLFNX or RYKIX?

HLFNX has higher volatility (5.34%) compared to RYKIX (5.30%). In terms of maximum drawdown, HLFNX dropped -71.74% vs RYKIX's -80.14%.

Which has better risk-adjusted returns?

RYKIX currently has the higher Sharpe Ratio (1.48 vs 0.33), 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.