MLPAX vs. HMSFX
Compare and contrast key facts about Invesco SteelPath MLP Alpha Fund Class A (MLPAX) and Hennessy Midstream Fund Investor Class (HMSFX).
MLPAX is an actively managed fund by Invesco. It was launched on Mar 31, 2010. HMSFX is a passively managed fund by Hennessy that tracks the performance of the Alerian US Midstream Energy Index. It was launched on Dec 31, 2013.
Performance
MLPAX vs. HMSFX - Performance Comparison
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MLPAX vs. HMSFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MLPAX Invesco SteelPath MLP Alpha Fund Class A | 17.20% | 4.31% | 40.77% | 20.43% | 29.07% | 39.45% | -30.58% | 5.60% | -18.49% |
HMSFX Hennessy Midstream Fund Investor Class | 17.51% | -0.76% | 35.85% | 23.50% | 28.88% | 36.22% | -31.21% | 11.77% | -20.36% |
Returns By Period
The year-to-date returns for both investments are quite close, with MLPAX having a 17.20% return and HMSFX slightly higher at 17.51%.
MLPAX
- 1D
- -0.51%
- 1M
- 3.08%
- YTD
- 17.20%
- 6M
- 19.83%
- 1Y
- 14.53%
- 3Y*
- 26.37%
- 5Y*
- 25.99%
- 10Y*
- 10.84%
HMSFX
- 1D
- -0.67%
- 1M
- 4.04%
- YTD
- 17.51%
- 6M
- 18.36%
- 1Y
- 8.02%
- 3Y*
- 24.20%
- 5Y*
- 23.77%
- 10Y*
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MLPAX vs. HMSFX - Expense Ratio Comparison
MLPAX has a 1.54% expense ratio, which is lower than HMSFX's 1.75% expense ratio.
Return for Risk
MLPAX vs. HMSFX — Risk / Return Rank
MLPAX
HMSFX
MLPAX vs. HMSFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco SteelPath MLP Alpha Fund Class A (MLPAX) and Hennessy Midstream Fund Investor Class (HMSFX). 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.
| MLPAX | HMSFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.87 | 0.42 | +0.45 |
Sortino ratioReturn per unit of downside risk | 1.18 | 0.65 | +0.54 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.10 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 0.93 | 0.53 | +0.40 |
Martin ratioReturn relative to average drawdown | 2.57 | 0.88 | +1.69 |
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
| MLPAX | HMSFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.87 | 0.42 | +0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.34 | 1.18 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.36 | -0.05 |
Correlation
The correlation between MLPAX and HMSFX is 0.96, 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
MLPAX vs. HMSFX - Dividend Comparison
MLPAX's dividend yield for the trailing twelve months is around 5.07%, less than HMSFX's 7.72% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLPAX Invesco SteelPath MLP Alpha Fund Class A | 5.07% | 5.72% | 5.00% | 5.91% | 6.56% | 7.91% | 14.02% | 9.91% | 10.40% | 8.21% | 7.34% | 7.99% |
HMSFX Hennessy Midstream Fund Investor Class | 7.72% | 8.89% | 8.12% | 10.11% | 11.23% | 12.99% | 15.54% | 9.26% | 4.74% | 0.00% | 0.00% | 0.00% |
Drawdowns
MLPAX vs. HMSFX - Drawdown Comparison
The maximum MLPAX drawdown since its inception was -77.51%, which is greater than HMSFX's maximum drawdown of -68.50%. Use the drawdown chart below to compare losses from any high point for MLPAX and HMSFX.
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Drawdown Indicators
| MLPAX | HMSFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.51% | -68.50% | -9.01% |
Max Drawdown (1Y)Largest decline over 1 year | -14.80% | -15.26% | +0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -21.04% | -21.17% | +0.13% |
Max Drawdown (10Y)Largest decline over 10 years | -72.85% | — | — |
Current DrawdownCurrent decline from peak | -0.61% | -0.89% | +0.28% |
Average DrawdownAverage peak-to-trough decline | -17.21% | -12.63% | -4.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.35% | 9.17% | -3.82% |
Volatility
MLPAX vs. HMSFX - Volatility Comparison
The current volatility for Invesco SteelPath MLP Alpha Fund Class A (MLPAX) is 3.07%, while Hennessy Midstream Fund Investor Class (HMSFX) has a volatility of 4.26%. This indicates that MLPAX experiences smaller price fluctuations and is considered to be less risky than HMSFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLPAX | HMSFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.07% | 4.26% | -1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 7.67% | 10.31% | -2.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.71% | 19.31% | -2.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.56% | 20.25% | -0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.13% | 29.61% | -3.48% |