MLPLX vs. HMSFX
MLPLX (Invesco SteelPath MLP Alpha Plus Fund Class A) and HMSFX (Hennessy Midstream Fund Investor Class) are both MLPs funds. MLPLX is actively managed, while HMSFX is passively managed. Over the past 5 years, MLPLX returned 29.67%/yr vs 20.93%/yr for HMSFX. Their 0.96 correlation means they have historically moved very closely together. MLPLX charges 17.25%/yr vs 1.75%/yr for HMSFX.
Performance
MLPLX vs. HMSFX - Performance Comparison
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Returns By Period
In the year-to-date period, MLPLX achieves a 30.97% return, which is significantly higher than HMSFX's 18.28% return.
MLPLX
- 1D
- 0.27%
- 1M
- 4.79%
- 6M
- 20.54%
- YTD
- 30.97%
- 1Y
- 32.27%
- 3Y*
- 29.36%
- 5Y*
- 29.67%
- 10Y*
- 9.46%
- ALL TIME*
- 6.58%
HMSFX
- 1D
- -0.08%
- 1M
- 1.23%
- 6M
- 9.75%
- YTD
- 18.28%
- 1Y
- 18.21%
- 3Y*
- 18.56%
- 5Y*
- 20.93%
- 10Y*
- —
- ALL TIME*
- 9.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MLPLX vs. HMSFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MLPLX Invesco SteelPath MLP Alpha Plus Fund Class A | 30.97% | 4.36% | 47.10% | 25.02% | 38.31% | 55.18% | -46.03% | 8.79% | -23.67% |
HMSFX Hennessy Midstream Fund Investor Class | 18.28% | -0.76% | 35.85% | 23.50% | 28.88% | 36.22% | -31.21% | 11.77% | -20.36% |
Correlation
The correlation between MLPLX and HMSFX is 0.95, 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. | 0.95 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2018 | 0.96 |
The correlation between MLPLX and HMSFX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
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Return for Risk
MLPLX vs. HMSFX — Risk / Return Rank
MLPLX
HMSFX
MLPLX vs. HMSFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco SteelPath MLP Alpha Plus Fund Class A (MLPLX) 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.
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.
| MLPLX | HMSFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.21 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.60 | 2.69 | +0.91 |
| Martin ratioReturn relative to average drawdown | 8.82 | 5.80 | +3.02 |
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Drawdowns
MLPLX vs. HMSFX - Drawdown Comparison
The maximum MLPLX drawdown since its inception was -88.76%, which is greater than HMSFX's maximum drawdown of -68.50%. Use the drawdown chart below to compare losses from any high point for MLPLX and HMSFX.
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Drawdown Indicators
| MLPLX | HMSFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.76% | -68.50% | -20.26% |
Max Drawdown (1Y)Largest decline over 1 year | -8.56% | -6.91% | -1.65% |
Max Drawdown (3Y)Largest decline over 3 years | -19.55% | -16.38% | -3.17% |
Max Drawdown (5Y)Largest decline over 5 years | -27.21% | -21.17% | -6.04% |
Max Drawdown (10Y)Largest decline over 10 years | -85.02% | — | — |
Current DrawdownCurrent decline from peak | -1.96% | -3.40% | +1.44% |
Average DrawdownAverage peak-to-trough decline | -28.71% | -12.23% | -16.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.60% | 3.19% | +0.41% |
Volatility
MLPLX vs. HMSFX - Volatility Comparison
Invesco SteelPath MLP Alpha Plus Fund Class A (MLPLX) and Hennessy Midstream Fund Investor Class (HMSFX) have volatilities of 5.52% and 5.53%, 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.
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Volatility by Period
| MLPLX | HMSFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.52% | 5.53% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 12.92% | 12.26% | +0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.69% | 15.20% | +1.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.65% | 19.89% | +4.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.44% | 29.19% | +6.25% |
MLPLX vs. HMSFX - Expense Ratio Comparison
MLPLX has a 17.25% expense ratio, which is higher than HMSFX's 1.75% expense ratio.
Dividends
MLPLX vs. HMSFX - Dividend Comparison
MLPLX's dividend yield for the trailing twelve months is around 4.83%, less than HMSFX's 7.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HMSFX Hennessy Midstream Fund Investor Class | 7.83% | 8.89% | 8.12% | 10.11% | 11.23% | 12.99% | 15.54% | 9.26% | 4.74% | 0.00% | 0.00% | 0.00% |
MLPLX Invesco SteelPath MLP Alpha Plus Fund Class A | 4.83% | 5.70% | 4.42% | 5.92% | 6.79% | 8.75% | 22.54% | 14.33% | 13.67% | 9.68% | 7.88% | 9.20% |
Frequently Asked Questions
With a correlation of 0.95, MLPLX and HMSFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
HMSFX has higher volatility (5.53%) compared to MLPLX (5.52%). In terms of maximum drawdown, MLPLX dropped -88.76% vs HMSFX's -68.50%.
MLPLX currently has the higher Sharpe Ratio (1.91 vs 1.22), 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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