HSFNX vs. FSLBX
HSFNX (Hennessy Small Cap Financial Fund) and FSLBX (Fidelity Select Brokerage & Invmt Mgmt Portfolio) are both Financials Equities funds. Over the past 10 years, HSFNX returned 9.96%/yr vs 14.99%/yr for FSLBX. A 0.71 correlation means they provide meaningful diversification when combined. HSFNX charges 1.58%/yr vs 0.75%/yr for FSLBX.
Performance
HSFNX vs. FSLBX - Performance Comparison
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Returns By Period
In the year-to-date period, HSFNX achieves a 14.33% return, which is significantly higher than FSLBX's -9.08% return. Over the past 10 years, HSFNX has underperformed FSLBX with an annualized return of 9.96%, while FSLBX has yielded a comparatively higher 14.99% annualized return.
HSFNX
- 1D
- 0.45%
- 1M
- 1.29%
- 6M
- 12.33%
- YTD
- 14.33%
- 1Y
- 26.33%
- 3Y*
- 22.43%
- 5Y*
- 7.92%
- 10Y*
- 9.96%
FSLBX
- 1D
- 0.18%
- 1M
- 2.07%
- 6M
- -12.51%
- YTD
- -9.08%
- 1Y
- -11.78%
- 3Y*
- 16.26%
- 5Y*
- 9.02%
- 10Y*
- 14.99%
HSFNX vs. FSLBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HSFNX Hennessy Small Cap Financial Fund | 14.33% | 12.79% | 10.76% | 4.64% | -11.14% | 42.76% | 2.56% | 19.91% | -15.88% | -0.20% |
FSLBX Fidelity Select Brokerage & Invmt Mgmt Portfolio | -9.08% | 5.78% | 35.74% | 27.77% | -17.54% | 40.61% | 22.66% | 31.60% | -15.37% | 27.74% |
Correlation
The correlation between HSFNX and FSLBX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1998 | 0.71 |
Over the past year, the correlation between HSFNX and FSLBX has dropped to 0.51 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.
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Return for Risk
HSFNX vs. FSLBX — Risk / Return Rank
HSFNX
FSLBX
HSFNX vs. FSLBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hennessy Small Cap Financial Fund (HSFNX) and Fidelity Select Brokerage & Invmt Mgmt Portfolio (FSLBX). 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.
| HSFNX | FSLBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.60 | ||
| Sortino ratioReturn per unit of downside risk | +2.21 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 0.92 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | -0.52 | +2.32 |
| Martin ratioReturn relative to average drawdown | 4.70 | -0.98 | +5.69 |
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Drawdowns
HSFNX vs. FSLBX - Drawdown Comparison
The maximum HSFNX drawdown since its inception was -70.18%, roughly equal to the maximum FSLBX drawdown of -68.20%. Use the drawdown chart below to compare losses from any high point for HSFNX and FSLBX.
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Drawdown Indicators
| HSFNX | FSLBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.18% | -68.20% | -1.98% |
Max Drawdown (1Y)Largest decline over 1 year | -13.61% | -24.67% | +11.06% |
Max Drawdown (3Y)Largest decline over 3 years | -27.33% | -26.06% | -1.27% |
Max Drawdown (5Y)Largest decline over 5 years | -43.00% | -30.87% | -12.13% |
Max Drawdown (10Y)Largest decline over 10 years | -50.68% | -40.56% | -10.12% |
Current DrawdownCurrent decline from peak | -2.55% | -15.14% | +12.59% |
Average DrawdownAverage peak-to-trough decline | -25.93% | -14.88% | -11.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.20% | 12.98% | -7.78% |
Volatility
HSFNX vs. FSLBX - Volatility Comparison
The current volatility for Hennessy Small Cap Financial Fund (HSFNX) is 5.60%, while Fidelity Select Brokerage & Invmt Mgmt Portfolio (FSLBX) has a volatility of 6.76%. This indicates that HSFNX experiences smaller price fluctuations and is considered to be less risky than FSLBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSFNX | FSLBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 6.76% | -1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 16.32% | 17.55% | -1.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.84% | 22.22% | +1.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.30% | 23.06% | +4.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.29% | 23.51% | +5.78% |
HSFNX vs. FSLBX - Expense Ratio Comparison
HSFNX has a 1.58% expense ratio, which is higher than FSLBX's 0.75% expense ratio.
Dividends
HSFNX vs. FSLBX - Dividend Comparison
HSFNX's dividend yield for the trailing twelve months is around 9.61%, more than FSLBX's 2.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSLBX Fidelity Select Brokerage & Invmt Mgmt Portfolio | 2.15% | 0.67% | 0.69% | 1.22% | 2.09% | 1.39% | 3.08% | 4.25% | 8.94% | 5.46% | 1.25% | 6.37% |
HSFNX Hennessy Small Cap Financial Fund | 9.61% | 10.99% | 5.97% | 4.63% | 9.14% | 0.97% | 0.91% | 3.43% | 7.34% | 8.19% | 12.46% | 7.38% |
Frequently Asked Questions
HSFNX and FSLBX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSLBX has higher volatility (6.76%) compared to HSFNX (5.60%). In terms of maximum drawdown, HSFNX dropped -70.18% vs FSLBX's -68.20%.
HSFNX currently has the higher Sharpe Ratio (1.03 vs -0.58), 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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