HSSAX vs. HSPGX
Compare and contrast key facts about Emerald Finance and Banking Innovation Fund (HSSAX) and Emerald Growth Fund (HSPGX).
HSSAX is managed by Emerald. It was launched on Feb 18, 1997. HSPGX is managed by Emerald. It was launched on Oct 1, 1992.
Performance
HSSAX vs. HSPGX - Performance Comparison
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HSSAX vs. HSPGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HSSAX Emerald Finance and Banking Innovation Fund | -10.45% | 12.11% | 16.47% | 15.58% | -55.87% | 38.83% | 11.94% | 20.55% | -19.86% | 12.63% |
HSPGX Emerald Growth Fund | -0.71% | 31.62% | 28.04% | 18.66% | -24.65% | 3.59% | 38.49% | 28.33% | -12.16% | 27.72% |
Returns By Period
In the year-to-date period, HSSAX achieves a -10.45% return, which is significantly lower than HSPGX's -0.71% return. Over the past 10 years, HSSAX has underperformed HSPGX with an annualized return of 3.39%, while HSPGX has yielded a comparatively higher 13.73% annualized return.
HSSAX
- 1D
- 2.83%
- 1M
- -3.21%
- YTD
- -10.45%
- 6M
- -10.68%
- 1Y
- 2.83%
- 3Y*
- 15.07%
- 5Y*
- -9.33%
- 10Y*
- 3.39%
HSPGX
- 1D
- 5.53%
- 1M
- -8.93%
- YTD
- -0.71%
- 6M
- 4.94%
- 1Y
- 49.48%
- 3Y*
- 24.04%
- 5Y*
- 7.93%
- 10Y*
- 13.73%
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HSSAX vs. HSPGX - Expense Ratio Comparison
HSSAX has a 1.71% expense ratio, which is higher than HSPGX's 1.03% expense ratio.
Return for Risk
HSSAX vs. HSPGX — Risk / Return Rank
HSSAX
HSPGX
HSSAX vs. HSPGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Emerald Finance and Banking Innovation Fund (HSSAX) and Emerald Growth Fund (HSPGX). 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.
| HSSAX | HSPGX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.13 | 1.71 | -1.58 |
Sortino ratioReturn per unit of downside risk | 0.36 | 2.30 | -1.94 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.31 | -0.26 |
Calmar ratioReturn relative to maximum drawdown | 0.10 | 2.86 | -2.77 |
Martin ratioReturn relative to average drawdown | 0.24 | 11.16 | -10.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HSSAX | HSPGX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.13 | 1.71 | -1.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.32 | 0.32 | -0.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.12 | 0.55 | -0.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.41 | -0.10 |
Correlation
The correlation between HSSAX and HSPGX is 0.77, 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
HSSAX vs. HSPGX - Dividend Comparison
HSSAX has not paid dividends to shareholders, while HSPGX's dividend yield for the trailing twelve months is around 12.83%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HSSAX Emerald Finance and Banking Innovation Fund | 0.00% | 0.00% | 1.98% | 0.00% | 0.00% | 11.48% | 0.00% | 0.00% | 26.56% | 2.83% |
HSPGX Emerald Growth Fund | 12.83% | 12.74% | 21.85% | 6.43% | 8.77% | 19.11% | 8.48% | 1.45% | 11.86% | 0.00% |
Drawdowns
HSSAX vs. HSPGX - Drawdown Comparison
The maximum HSSAX drawdown since its inception was -73.01%, which is greater than HSPGX's maximum drawdown of -60.28%. Use the drawdown chart below to compare losses from any high point for HSSAX and HSPGX.
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Drawdown Indicators
| HSSAX | HSPGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.01% | -60.28% | -12.73% |
Max Drawdown (1Y)Largest decline over 1 year | -19.61% | -15.38% | -4.23% |
Max Drawdown (5Y)Largest decline over 5 years | -73.01% | -38.65% | -34.36% |
Max Drawdown (10Y)Largest decline over 10 years | -73.01% | -41.48% | -31.53% |
Current DrawdownCurrent decline from peak | -53.51% | -9.67% | -43.84% |
Average DrawdownAverage peak-to-trough decline | -18.77% | -19.10% | +0.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.97% | 3.95% | +4.02% |
Volatility
HSSAX vs. HSPGX - Volatility Comparison
The current volatility for Emerald Finance and Banking Innovation Fund (HSSAX) is 6.34%, while Emerald Growth Fund (HSPGX) has a volatility of 11.36%. This indicates that HSSAX experiences smaller price fluctuations and is considered to be less risky than HSPGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSSAX | HSPGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.34% | 11.36% | -5.02% |
Volatility (6M)Calculated over the trailing 6-month period | 19.34% | 20.12% | -0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.99% | 29.18% | -2.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.51% | 25.26% | +4.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.16% | 24.98% | +3.18% |