HMSIX vs. AMZA

Last updated Apr 1, 2026

Compare and contrast key facts about Hennessy Midstream Fund (HMSIX) and InfraCap MLP ETF (AMZA).

HMSIX is managed by Hennessy. It was launched on Dec 30, 2013. AMZA is an actively managed fund by Virtus Investment Partners. It was launched on Oct 7, 2014.

Performance

HMSIX vs. AMZA - Performance Comparison

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

HMSIX vs. AMZA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
HMSIX Hennessy Midstream Fund	17.65%	-0.49%	36.21%	23.75%	29.15%	36.58%	-31.00%	11.97%	-20.24%
AMZA InfraCap MLP ETF	19.38%	0.17%	30.90%	23.35%	33.20%	51.22%	-49.25%	6.27%	-31.41%

Returns By Period

In the year-to-date period, HMSIX achieves a 17.65% return, which is significantly lower than AMZA's 19.38% return.

HMSIX

• 1D: -0.63%
• 1M: 4.11%
• YTD: 17.65%
• 6M: 18.55%
• 1Y: 8.36%
• 3Y*: 24.54%
• 5Y*: 24.09%
• 10Y*: —

AMZA

• 1D: -1.45%
• 1M: 2.49%
• YTD: 19.38%
• 6M: 20.02%
• 1Y: 5.74%
• 3Y*: 22.86%
• 5Y*: 23.82%
• 10Y*: 7.88%

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

HMSIX vs. AMZA - Expense Ratio Comparison

HMSIX has a 1.51% expense ratio, which is lower than AMZA's 2.01% expense ratio.

AMZA

InfraCap MLP ETF

HMSIX

Hennessy Midstream Fund

Return for Risk

HMSIX vs. AMZA — Risk / Return Rank

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

HMSIX

HMSIX Risk / Return Rank: 16
HMSIX Sharpe Ratio Rank: 17
HMSIX Sortino Ratio Rank: 15
HMSIX Omega Ratio Rank: 16
HMSIX Calmar Ratio Rank: 19
HMSIX Martin Ratio Rank: 12

AMZA

AMZA Risk / Return Rank: 19
AMZA Sharpe Ratio Rank: 20
AMZA Sortino Ratio Rank: 19
AMZA Omega Ratio Rank: 19
AMZA Calmar Ratio Rank: 19
AMZA Martin Ratio Rank: 16

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.

HMSIX vs. AMZA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hennessy Midstream Fund (HMSIX) and InfraCap MLP ETF (AMZA). 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.

	HMSIX	AMZA	Difference
Sharpe ratio Return per unit of total volatility	0.44	0.25	+0.19
Sortino ratio Return per unit of downside risk	0.67	0.47	+0.20
Omega ratio Gain probability vs. loss probability	1.10	1.07	+0.03
Calmar ratio Return relative to maximum drawdown	0.56	0.30	+0.25
Martin ratio Return relative to average drawdown	0.94	0.55	+0.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HMSIX vs. AMZA - Sharpe Ratio Comparison

The current HMSIX Sharpe Ratio is 0.44, which is higher than the AMZA Sharpe Ratio of 0.25. The chart below compares the historical Sharpe Ratios of HMSIX and AMZA, 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

	HMSIX	AMZA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.44	0.25	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.19	0.92	+0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.21	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	-0.03	+0.40

Correlation

The correlation between HMSIX and AMZA is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HMSIX vs. AMZA - Dividend Comparison

HMSIX's dividend yield for the trailing twelve months is around 7.29%, less than AMZA's 7.88% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HMSIX Hennessy Midstream Fund	7.29%	8.42%	7.74%	9.70%	10.84%	12.61%	15.17%	9.10%	4.67%	0.00%	0.00%	0.00%
AMZA InfraCap MLP ETF	7.88%	8.81%	7.29%	9.40%	7.65%	10.24%	22.13%	19.47%	34.46%	24.16%	18.36%	18.21%

Drawdowns

HMSIX vs. AMZA - Drawdown Comparison

The maximum HMSIX drawdown since its inception was -68.43%, smaller than the maximum AMZA drawdown of -91.46%. Use the drawdown chart below to compare losses from any high point for HMSIX and AMZA.

Drawdown Indicators

	HMSIX	AMZA	Difference
Max Drawdown Largest peak-to-trough decline	-68.43%	-91.46%	+23.03%
Max Drawdown (1Y) Largest decline over 1 year	-15.22%	-17.90%	+2.68%
Max Drawdown (5Y) Largest decline over 5 years	-21.17%	-25.15%	+3.98%
Max Drawdown (10Y) Largest decline over 10 years	—	-86.84%	—
Current Drawdown Current decline from peak	-0.91%	-12.28%	+11.37%
Average Drawdown Average peak-to-trough decline	-12.47%	-45.54%	+33.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.07%	9.91%	-0.84%

Volatility

HMSIX vs. AMZA - Volatility Comparison

The current volatility for Hennessy Midstream Fund (HMSIX) is 4.23%, while InfraCap MLP ETF (AMZA) has a volatility of 5.70%. This indicates that HMSIX experiences smaller price fluctuations and is considered to be less risky than AMZA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HMSIX	AMZA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.23%	5.70%	-1.47%
Volatility (6M) Calculated over the trailing 6-month period	10.22%	12.41%	-2.19%
Volatility (1Y) Calculated over the trailing 1-year period	19.24%	23.23%	-3.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.26%	25.96%	-5.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.62%	37.45%	-7.83%