MJFOX vs. HJPNX
MJFOX (Matthews Japan Fund) and HJPNX (Hennessy Japan Fund) are both Japan Equities funds. Over the past 10 years, MJFOX returned 8.77%/yr vs 9.68%/yr for HJPNX. Their correlation of 0.83 means they have usually moved in the same direction. MJFOX charges 1.05%/yr vs 1.44%/yr for HJPNX.
Performance
MJFOX vs. HJPNX - Performance Comparison
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Returns By Period
In the year-to-date period, MJFOX achieves a 16.42% return, which is significantly lower than HJPNX's 21.93% return. Over the past 10 years, MJFOX has underperformed HJPNX with an annualized return of 8.77%, while HJPNX has yielded a comparatively higher 9.68% annualized return.
MJFOX
- 1D
- 4.86%
- 1M
- 0.25%
- 6M
- 11.30%
- YTD
- 16.42%
- 1Y
- 30.02%
- 3Y*
- 21.72%
- 5Y*
- 8.79%
- 10Y*
- 8.77%
- ALL TIME*
- 7.32%
HJPNX
- 1D
- 3.32%
- 1M
- 1.59%
- 6M
- 17.79%
- YTD
- 21.93%
- 1Y
- 35.58%
- 3Y*
- 20.03%
- 5Y*
- 7.71%
- 10Y*
- 9.68%
- ALL TIME*
- 8.69%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
HJPNX Hennessy Japan Fund | $0.00 | $0.00 | $0.00 |
MJFOX Matthews Japan Fund | $0.00 | $0.00 | $0.00 |
MJFOX vs. HJPNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MJFOX Matthews Japan Fund | 16.42% | 22.72% | 16.31% | 25.79% | -27.84% | -5.79% | 29.80% | 26.08% | -20.12% | 33.22% |
HJPNX Hennessy Japan Fund | 21.93% | 14.58% | 18.72% | 22.90% | -30.65% | -3.08% | 25.52% | 18.04% | -6.57% | 32.04% |
Correlation
The correlation between MJFOX and HJPNX is 0.86, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.89 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.90 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Nov 4, 2003 | 0.83 |
The correlation between MJFOX and HJPNX has been stable across timeframes, ranging from 0.83 to 0.90 - a consistent structural relationship.
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Return for Risk
MJFOX vs. HJPNX — Risk / Return Rank
MJFOX
HJPNX
MJFOX vs. HJPNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Matthews Japan Fund (MJFOX) and Hennessy Japan Fund (HJPNX). 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.
| MJFOX | HJPNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.26 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 2.41 | -0.30 |
| Martin ratioReturn relative to average drawdown | 7.09 | 8.12 | -1.03 |
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Drawdowns
MJFOX vs. HJPNX - Drawdown Comparison
The maximum MJFOX drawdown since its inception was -63.52%, which is greater than HJPNX's maximum drawdown of -59.65%. Use the drawdown chart below to compare losses from any high point for MJFOX and HJPNX.
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Drawdown Indicators
| MJFOX | HJPNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.52% | -59.65% | -3.87% |
Max Drawdown (1Y)Largest decline over 1 year | -14.53% | -14.18% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -17.14% | -20.06% | +2.92% |
Max Drawdown (5Y)Largest decline over 5 years | -42.85% | -44.72% | +1.87% |
Max Drawdown (10Y)Largest decline over 10 years | -42.85% | -44.72% | +1.87% |
Current DrawdownCurrent decline from peak | -4.62% | -1.50% | -3.12% |
Average DrawdownAverage peak-to-trough decline | -21.15% | -15.48% | -5.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.28% | 4.20% | +0.08% |
Volatility
MJFOX vs. HJPNX - Volatility Comparison
Matthews Japan Fund (MJFOX) has a higher volatility of 8.47% compared to Hennessy Japan Fund (HJPNX) at 7.09%. This indicates that MJFOX's price experiences larger fluctuations and is considered to be riskier than HJPNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MJFOX | HJPNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.47% | 7.09% | +1.38% |
Volatility (6M)Calculated over the trailing 6-month period | 20.00% | 18.26% | +1.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.80% | 23.61% | +0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.97% | 21.33% | -0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.10% | 18.92% | +0.18% |
MJFOX vs. HJPNX - Expense Ratio Comparison
MJFOX has a 1.05% expense ratio, which is lower than HJPNX's 1.44% expense ratio.
Dividends
MJFOX vs. HJPNX - Dividend Comparison
MJFOX's dividend yield for the trailing twelve months is around 1.68%, less than HJPNX's 10.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HJPNX Hennessy Japan Fund | 10.52% | 12.83% | 5.80% | 5.87% | 0.00% | 0.89% | 0.00% | 0.13% | 0.04% | 0.02% | 0.00% |
MJFOX Matthews Japan Fund | 1.68% | 1.96% | 2.12% | 6.09% | 7.19% | 8.08% | 10.15% | 8.63% | 4.14% | 3.90% | 1.15% |
Frequently Asked Questions
MJFOX and HJPNX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MJFOX has higher volatility (8.47%) compared to HJPNX (7.09%). In terms of maximum drawdown, MJFOX dropped -63.52% vs HJPNX's -59.65%.
HJPNX currently has the higher Sharpe Ratio (1.45 vs 1.29), 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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