HNRIX vs. HTECX

Last updated Jun 24, 2026

HNRIX (Hennessy Energy Transition Fund) and HTECX (Hennessy Technology Fund) are both mutual funds - HNRIX is a Energy Equities fund managed by Hennessy, while HTECX is a Technology Equities fund managed by Hennessy. Over the past 5 years, HNRIX returned 19.71%/yr vs 10.40%/yr for HTECX. At a 0.43 correlation, their price movements are largely independent. HNRIX charges 1.92%/yr vs 1.23%/yr for HTECX.

Performance

HNRIX vs. HTECX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hennessy Energy Transition Fund (HNRIX) and Hennessy Technology Fund (HTECX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with HNRIX having a 18.99% return and HTECX slightly lower at 18.90%.

HNRIX

• 1D: 0.94%
• 1M: -8.30%
• YTD: 18.99%
• 6M: 19.41%
• 1Y: 28.15%
• 3Y*: 20.04%
• 5Y*: 19.71%
• 10Y*: —

HTECX

• 1D: 0.35%
• 1M: 7.23%
• YTD: 18.90%
• 6M: 17.32%
• 1Y: 32.40%
• 3Y*: 21.83%
• 5Y*: 10.40%
• 10Y*: 15.07%

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

HNRIX vs. HTECX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
HNRIX Hennessy Energy Transition Fund	18.99%	12.87%	13.84%	4.09%	47.97%	55.91%	-25.63%	6.05%	-23.32%
HTECX Hennessy Technology Fund	18.90%	15.48%	17.29%	35.95%	-26.28%	14.75%	24.45%	39.13%	-7.75%

Correlation

The correlation between HNRIX and HTECX is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (All Time) Calculated using the full available price history since Nov 1, 2018	0.43

Over the past year, the correlation between HNRIX and HTECX has dropped to 0.04 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.

Return for Risk

HNRIX vs. HTECX — Risk / Return Rank

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

HNRIX

HNRIX Risk / Return Rank: 28
HNRIX Sharpe Ratio Rank: 25
HNRIX Sortino Ratio Rank: 23
HNRIX Omega Ratio Rank: 21
HNRIX Calmar Ratio Rank: 35
HNRIX Martin Ratio Rank: 34

HTECX

HTECX Risk / Return Rank: 34
HTECX Sharpe Ratio Rank: 36
HTECX Sortino Ratio Rank: 32
HTECX Omega Ratio Rank: 32
HTECX Calmar Ratio Rank: 40
HTECX Martin Ratio Rank: 31

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.

HNRIX vs. HTECX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hennessy Energy Transition Fund (HNRIX) and Hennessy Technology Fund (HTECX). 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.

	HNRIX	HTECX	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.62	-0.30
Sortino ratio: Return per unit of downside risk	1.82	2.20	-0.38
Omega ratio: Gain probability vs. loss probability	1.22	1.27	-0.05
Calmar ratio: Return relative to maximum drawdown	2.12	2.30	-0.18
Martin ratio: Return relative to average drawdown	7.21	6.64	+0.57

HNRIX vs. HTECX - Sharpe Ratio Comparison

The current HNRIX Sharpe Ratio is 1.31, which is comparable to the HTECX Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of HNRIX and HTECX, 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

HNRIX vs. HTECX - Drawdown Comparison

The maximum HNRIX drawdown since its inception was -74.75%, which is greater than HTECX's maximum drawdown of -58.85%. Use the drawdown chart below to compare losses from any high point for HNRIX and HTECX.

Drawdown Indicators

	HNRIX	HTECX	Difference
Max Drawdown Largest peak-to-trough decline	-74.75%	-58.85%	-15.90%
Max Drawdown (1Y) Largest decline over 1 year	-11.78%	-15.01%	+3.23%
Max Drawdown (3Y) Largest decline over 3 years	-19.19%	-26.64%	+7.45%
Max Drawdown (5Y) Largest decline over 5 years	-28.56%	-34.88%	+6.32%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.00%	—
Current Drawdown Current decline from peak	-10.95%	-3.64%	-7.31%
Average Drawdown Average peak-to-trough decline	-15.21%	-11.93%	-3.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.54%	5.18%	-1.64%

Volatility

HNRIX vs. HTECX - Volatility Comparison

The current volatility for Hennessy Energy Transition Fund (HNRIX) is 6.63%, while Hennessy Technology Fund (HTECX) has a volatility of 9.84%. This indicates that HNRIX experiences smaller price fluctuations and is considered to be less risky than HTECX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HNRIX	HTECX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.63%	9.84%	-3.21%
Volatility (6M) Calculated over the trailing 6-month period	14.23%	17.02%	-2.79%
Volatility (1Y) Calculated over the trailing 1-year period	19.04%	21.33%	-2.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.50%	24.44%	+2.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.74%	23.81%	+10.93%

HNRIX vs. HTECX - Expense Ratio Comparison

HNRIX has a 1.92% expense ratio, which is higher than HTECX's 1.23% expense ratio.

Dividends

HNRIX vs. HTECX - Dividend Comparison

HNRIX's dividend yield for the trailing twelve months is around 0.65%, less than HTECX's 17.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
HNRIX Hennessy Energy Transition Fund	0.65%	0.77%	0.14%	0.00%	0.76%	13.34%	0.00%	0.22%	0.00%	0.00%
HTECX Hennessy Technology Fund	17.79%	21.16%	4.28%	0.00%	0.07%	33.37%	3.58%	2.65%	15.54%	9.60%

Frequently Asked Questions

Can I hold both HNRIX and HTECX in my portfolio?

HNRIX and HTECX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HNRIX or HTECX?

HTECX has higher volatility (9.84%) compared to HNRIX (6.63%). In terms of maximum drawdown, HNRIX dropped -74.75% vs HTECX's -58.85%.

Which has better risk-adjusted returns?

HTECX currently has the higher Sharpe Ratio (1.62 vs 1.31), 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.