LOMAX vs. HFCVX

Last updated Jun 4, 2026

LOMAX (Edgar Lomax Value Fund) and HFCVX (Hennessy Cornerstone Value Fund) are both Large Cap Value Equities funds. Over the past 10 years, LOMAX returned 10.56%/yr vs 11.15%/yr for HFCVX. Their correlation of 0.92 suggests significant overlap in exposure. LOMAX charges 0.70%/yr vs 1.23%/yr for HFCVX.

Performance

LOMAX vs. HFCVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Edgar Lomax Value Fund (LOMAX) and Hennessy Cornerstone Value Fund (HFCVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LOMAX achieves a 8.88% return, which is significantly lower than HFCVX's 13.70% return. Over the past 10 years, LOMAX has underperformed HFCVX with an annualized return of 10.56%, while HFCVX has yielded a comparatively higher 11.15% annualized return.

LOMAX

• 1D: 0.11%
• 1M: 0.06%
• YTD: 8.88%
• 6M: 9.94%
• 1Y: 24.13%
• 3Y*: 16.33%
• 5Y*: 9.46%
• 10Y*: 10.56%

HFCVX

• 1D: 0.88%
• 1M: 2.10%
• YTD: 13.70%
• 6M: 14.88%
• 1Y: 26.29%
• 3Y*: 16.75%
• 5Y*: 11.74%
• 10Y*: 11.15%

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

LOMAX vs. HFCVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LOMAX Edgar Lomax Value Fund	8.88%	18.09%	10.29%	5.19%	-0.46%	25.80%	-5.77%	23.27%	-3.31%	19.52%
HFCVX Hennessy Cornerstone Value Fund	13.70%	18.27%	9.59%	5.81%	6.12%	29.94%	-6.39%	20.84%	-9.50%	19.21%

Correlation

The correlation between LOMAX and HFCVX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 15, 1997	0.92

The correlation between LOMAX and HFCVX has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

Return for Risk

LOMAX vs. HFCVX — Risk / Return Rank

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

LOMAX

LOMAX Risk / Return Rank: 79
LOMAX Sharpe Ratio Rank: 77
LOMAX Sortino Ratio Rank: 79
LOMAX Omega Ratio Rank: 60
LOMAX Calmar Ratio Rank: 93
LOMAX Martin Ratio Rank: 87

HFCVX

HFCVX Risk / Return Rank: 89
HFCVX Sharpe Ratio Rank: 89
HFCVX Sortino Ratio Rank: 88
HFCVX Omega Ratio Rank: 77
HFCVX Calmar Ratio Rank: 97
HFCVX Martin Ratio Rank: 94

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.

LOMAX vs. HFCVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Edgar Lomax Value Fund (LOMAX) and Hennessy Cornerstone Value Fund (HFCVX). 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.

	LOMAX	HFCVX	Difference
Sharpe ratio: Return per unit of total volatility	2.54	2.91	-0.37
Sortino ratio: Return per unit of downside risk	3.74	4.22	-0.48
Omega ratio: Gain probability vs. loss probability	1.43	1.51	-0.07
Calmar ratio: Return relative to maximum drawdown	5.11	7.07	-1.96
Martin ratio: Return relative to average drawdown	16.90	21.66	-4.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LOMAX vs. HFCVX - Sharpe Ratio Comparison

The current LOMAX Sharpe Ratio is 2.54, which is comparable to the HFCVX Sharpe Ratio of 2.91. The chart below compares the historical Sharpe Ratios of LOMAX and HFCVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	LOMAX	HFCVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	2.91	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.89	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.68	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.41	-0.01

Drawdowns

LOMAX vs. HFCVX - Drawdown Comparison

The maximum LOMAX drawdown since its inception was -57.82%, smaller than the maximum HFCVX drawdown of -65.75%. Use the drawdown chart below to compare losses from any high point for LOMAX and HFCVX.

Drawdown Indicators

	LOMAX	HFCVX	Difference
Max Drawdown Largest peak-to-trough decline	-57.82%	-65.75%	+7.93%
Max Drawdown (1Y) Largest decline over 1 year	-4.86%	-3.77%	-1.09%
Max Drawdown (3Y) Largest decline over 3 years	-11.93%	-11.32%	-0.61%
Max Drawdown (5Y) Largest decline over 5 years	-17.50%	-16.81%	-0.69%
Max Drawdown (10Y) Largest decline over 10 years	-37.81%	-39.39%	+1.58%
Current Drawdown Current decline from peak	-1.74%	-1.29%	-0.45%
Average Drawdown Average peak-to-trough decline	-9.40%	-8.24%	-1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.47%	1.23%	+0.24%

Volatility

LOMAX vs. HFCVX - Volatility Comparison

Edgar Lomax Value Fund (LOMAX) and Hennessy Cornerstone Value Fund (HFCVX) have volatilities of 2.66% and 2.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LOMAX	HFCVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.66%	2.79%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	6.95%	6.85%	+0.10%
Volatility (1Y) Calculated over the trailing 1-year period	9.76%	9.16%	+0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.23%	13.26%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.50%	16.46%	+0.04%

LOMAX vs. HFCVX - Expense Ratio Comparison

LOMAX has a 0.70% expense ratio, which is lower than HFCVX's 1.23% expense ratio.

Dividends

LOMAX vs. HFCVX - Dividend Comparison

LOMAX's dividend yield for the trailing twelve months is around 5.82%, less than HFCVX's 6.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HFCVX Hennessy Cornerstone Value Fund	6.50%	7.39%	4.56%	3.57%	10.33%	4.81%	2.58%	6.58%	17.16%	14.97%	2.26%	2.57%
LOMAX Edgar Lomax Value Fund	5.82%	6.34%	6.27%	4.66%	7.73%	5.11%	12.52%	2.16%	15.97%	8.80%	2.68%	15.54%

Frequently Asked Questions

Can I hold both LOMAX and HFCVX in my portfolio?

LOMAX and HFCVX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LOMAX or HFCVX?

HFCVX has higher volatility (2.79%) compared to LOMAX (2.66%). In terms of maximum drawdown, LOMAX dropped -57.82% vs HFCVX's -65.75%.

Which has better risk-adjusted returns?

HFCVX currently has the higher Sharpe Ratio (2.91 vs 2.54), 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.