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MLPFX vs. HMSFX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

MLPFX vs. HMSFX

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco SteelPath MLP Select 40 Fund Class A (MLPFX) and Hennessy Midstream Fund Investor Class (HMSFX).

MLPFX 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

MLPFX vs. HMSFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco SteelPath MLP Select 40 Fund Class A (MLPFX) and Hennessy Midstream Fund Investor Class (HMSFX). The values are adjusted to include any dividend payments, if applicable.

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MLPFX vs. HMSFX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
MLPFX
Invesco SteelPath MLP Select 40 Fund Class A		20.14%8.22%29.99%22.47%21.84%39.44%-25.43%6.90%-13.11%
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

In the year-to-date period, MLPFX achieves a 20.14% return, which is significantly higher than HMSFX's 17.51% return.

MLPFX

1D
-0.93%
1M
2.56%
YTD
20.14%
6M
22.49%
1Y
19.91%
3Y*
26.35%
5Y*
24.42%
10Y*
11.36%

HMSFX

1D
-0.67%
1M
4.04%
YTD
17.51%
6M
18.36%
1Y
8.02%
3Y*
24.20%
5Y*
23.77%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Invesco SteelPath MLP Select 40 Fund Class A

Hennessy Midstream Fund Investor Class

Often compared with MLPFX:
MLPFX vs. MLPLXMLPFX vs. MLPAXMLPFX vs. EMOMLPFX vs. NMLMLPFX vs. MLPDXMLPFX vs. MSIGXMLPFX vs. OPPAX
Often compared with HMSFX:
HMSFX vs. MDSTHMSFX vs. AMLPHMSFX vs. MLPAXHMSFX vs. MLPLXHMSFX vs. NMLHMSFX vs. EMOHMSFX vs. MLPDX

MLPFX vs. HMSFX - Expense Ratio Comparison

MLPFX has a 10.29% expense ratio, which is higher than HMSFX's 1.75% expense ratio.

MLPFX
Invesco SteelPath MLP Select 40 Fund Class A
HMSFX
Hennessy Midstream Fund Investor Class

Return for Risk

MLPFX vs. HMSFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MLPFX
MLPFX Risk / Return Rank: 5454
Overall Rank
MLPFX Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
MLPFX Sortino Ratio Rank: 5656
Sortino Ratio Rank
MLPFX Omega Ratio Rank: 6060
Omega Ratio Rank
MLPFX Calmar Ratio Rank: 5353
Calmar Ratio Rank
MLPFX Martin Ratio Rank: 3636
Martin Ratio Rank
HMSFX
HMSFX Risk / Return Rank: 1414
Overall Rank
HMSFX Sharpe Ratio Rank: 1515
Sharpe Ratio Rank
HMSFX Sortino Ratio Rank: 1313
Sortino Ratio Rank
HMSFX Omega Ratio Rank: 1414
Omega Ratio Rank
HMSFX Calmar Ratio Rank: 1717
Calmar Ratio Rank
HMSFX Martin Ratio Rank: 1111
Martin Ratio Rank
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.

MLPFX vs. HMSFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco SteelPath MLP Select 40 Fund Class A (MLPFX) 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.

MLPFXHMSFXDifference

Sharpe ratio

Return per unit of total volatility

1.17

0.42

+0.76

Sortino ratio

Return per unit of downside risk

1.53

0.65

+0.89

Omega ratio

Gain probability vs. loss probability

1.24

1.10

+0.14

Calmar ratio

Return relative to maximum drawdown

1.31

0.53

+0.78

Martin ratio

Return relative to average drawdown

3.91

0.88

+3.03

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MLPFX vs. HMSFX - Sharpe Ratio Comparison

The current MLPFX Sharpe Ratio is 1.17, which is higher than the HMSFX Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of MLPFX and HMSFX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

MLPFXHMSFXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.17

0.42

+0.76

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.37

1.18

+0.19

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.46

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.37

0.36

+0.01

Correlation

The correlation between MLPFX and HMSFX is 0.94, 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

MLPFX vs. HMSFX - Dividend Comparison

MLPFX's dividend yield for the trailing twelve months is around 5.25%, less than HMSFX's 7.72% yield.

TTM20252024202320222021202020192018201720162015
MLPFX
Invesco SteelPath MLP Select 40 Fund Class A		5.25%6.11%5.29%6.54%7.34%8.29%13.36%10.42%10.09%8.35%7.41%7.84%
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

MLPFX vs. HMSFX - Drawdown Comparison

The maximum MLPFX drawdown since its inception was -76.01%, which is greater than HMSFX's maximum drawdown of -68.50%. Use the drawdown chart below to compare losses from any high point for MLPFX and HMSFX.

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Drawdown Indicators

MLPFXHMSFXDifference

Max Drawdown

Largest peak-to-trough decline

-76.01%

-68.50%

-7.51%

Max Drawdown (1Y)

Largest decline over 1 year

-14.55%

-15.26%

+0.71%

Max Drawdown (5Y)

Largest decline over 5 years

-18.81%

-21.17%

+2.36%

Max Drawdown (10Y)

Largest decline over 10 years

-72.18%

—

—

Current Drawdown

Current decline from peak

-1.39%

-0.89%

-0.50%

Average Drawdown

Average peak-to-trough decline

-13.20%

-12.63%

-0.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.86%

9.17%

-4.31%

Volatility

MLPFX vs. HMSFX - Volatility Comparison

The current volatility for Invesco SteelPath MLP Select 40 Fund Class A (MLPFX) is 3.71%, while Hennessy Midstream Fund Investor Class (HMSFX) has a volatility of 4.26%. This indicates that MLPFX 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

MLPFXHMSFXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.71%

4.26%

-0.55%

Volatility (6M)

Calculated over the trailing 6-month period

8.67%

10.31%

-1.64%

Volatility (1Y)

Calculated over the trailing 1-year period

16.92%

19.31%

-2.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.90%

20.25%

-2.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.08%

29.61%

-4.53%