HSGFX vs. SNOIX
HSGFX (Hussman Strategic Growth Fund) and SNOIX (Easterly Snow Long/Short Opportunity Fund) are both Long-Short funds. Over the past 10 years, HSGFX returned -2.22%/yr vs 10.60%/yr for SNOIX. Their -0.42 correlation means they have often moved in opposite directions in the past. HSGFX charges 1.15%/yr vs 1.41%/yr for SNOIX.
Performance
HSGFX vs. SNOIX - Performance Comparison
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Returns By Period
In the year-to-date period, HSGFX achieves a -5.27% return, which is significantly lower than SNOIX's 12.24% return. Over the past 10 years, HSGFX has underperformed SNOIX with an annualized return of -2.22%, while SNOIX has yielded a comparatively higher 10.60% annualized return.
HSGFX
- 1D
- -0.92%
- 1M
- 3.85%
- 6M
- -3.58%
- YTD
- -5.27%
- 1Y
- -10.47%
- 3Y*
- -2.65%
- 5Y*
- -1.91%
- 10Y*
- -2.22%
- ALL TIME*
- 0.22%
SNOIX
- 1D
- -0.05%
- 1M
- 4.35%
- 6M
- 9.53%
- YTD
- 12.24%
- 1Y
- 29.47%
- 3Y*
- 13.42%
- 5Y*
- 10.14%
- 10Y*
- 10.60%
- ALL TIME*
- 7.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
HSGFX vs. SNOIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HSGFX Hussman Strategic Growth Fund | -5.27% | 6.24% | -6.99% | -11.60% | 17.33% | -0.23% | 14.52% | -18.87% | 8.78% | -12.72% |
SNOIX Easterly Snow Long/Short Opportunity Fund | 12.24% | 20.66% | 5.17% | 10.84% | -3.10% | 26.26% | 1.44% | 22.44% | -11.25% | 12.80% |
Correlation
The correlation between HSGFX and SNOIX is -0.17, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.17 |
Correlation (3Y) Balances recent behavior with more history. | -0.25 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.35 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.37 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2007 | -0.42 |
Over the past year, the inverse relationship between HSGFX and SNOIX has weakened: their correlation has moved from -0.42 to -0.17, meaning they move in opposite directions less often than they have historically.
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Return for Risk
HSGFX vs. SNOIX — Risk / Return Rank
HSGFX
SNOIX
HSGFX vs. SNOIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hussman Strategic Growth Fund (HSGFX) and Easterly Snow Long/Short Opportunity Fund (SNOIX). 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.
| HSGFX | SNOIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.11 | ||
| Sortino ratioReturn per unit of downside risk | -4.46 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.42 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.53 | 6.28 | -6.81 |
| Martin ratioReturn relative to average drawdown | -0.97 | 18.68 | -19.65 |
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Drawdowns
HSGFX vs. SNOIX - Drawdown Comparison
The maximum HSGFX drawdown since its inception was -60.61%, smaller than the maximum SNOIX drawdown of -65.34%. Use the drawdown chart below to compare losses from any high point for HSGFX and SNOIX.
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Drawdown Indicators
| HSGFX | SNOIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.61% | -65.34% | +4.73% |
Max Drawdown (1Y)Largest decline over 1 year | -17.20% | -4.50% | -12.70% |
Max Drawdown (3Y)Largest decline over 3 years | -24.52% | -15.33% | -9.19% |
Max Drawdown (5Y)Largest decline over 5 years | -24.52% | -17.66% | -6.86% |
Max Drawdown (10Y)Largest decline over 10 years | -30.86% | -34.43% | +3.57% |
Current DrawdownCurrent decline from peak | -54.87% | -0.05% | -54.82% |
Average DrawdownAverage peak-to-trough decline | -27.04% | -9.71% | -17.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.44% | 1.51% | +7.93% |
Volatility
HSGFX vs. SNOIX - Volatility Comparison
Hussman Strategic Growth Fund (HSGFX) has a higher volatility of 3.49% compared to Easterly Snow Long/Short Opportunity Fund (SNOIX) at 2.35%. This indicates that HSGFX's price experiences larger fluctuations and is considered to be riskier than SNOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSGFX | SNOIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.49% | 2.35% | +1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 10.40% | 7.99% | +2.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.89% | 11.80% | +1.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.43% | 14.89% | -3.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.90% | 16.27% | -5.37% |
HSGFX vs. SNOIX - Expense Ratio Comparison
HSGFX has a 1.15% expense ratio, which is lower than SNOIX's 1.41% expense ratio.
Dividends
HSGFX vs. SNOIX - Dividend Comparison
HSGFX's dividend yield for the trailing twelve months is around 2.46%, less than SNOIX's 6.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSGFX Hussman Strategic Growth Fund | 2.46% | 2.33% | 3.00% | 3.10% | 1.08% | 0.42% | 0.16% | 1.84% | 1.19% | 0.50% | 0.28% | 0.56% |
SNOIX Easterly Snow Long/Short Opportunity Fund | 6.16% | 6.91% | 5.10% | 2.29% | 7.07% | 8.98% | 1.86% | 1.95% | 2.06% | 4.80% | 0.36% | 2.79% |
Frequently Asked Questions
HSGFX and SNOIX have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HSGFX has higher volatility (3.49%) compared to SNOIX (2.35%). In terms of maximum drawdown, HSGFX dropped -60.61% vs SNOIX's -65.34%.
SNOIX currently has the higher Sharpe Ratio (2.40 vs -0.71), 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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