NFJEX vs. HFCVX

Last updated Jun 4, 2026

NFJEX (Virtus NFJ Dividend Value Fund) and HFCVX (Hennessy Cornerstone Value Fund) are both Large Cap Value Equities funds. Over the past 10 years, NFJEX returned 9.82%/yr vs 11.15%/yr for HFCVX. Their correlation of 0.89 suggests significant overlap in exposure. NFJEX charges 0.70%/yr vs 1.23%/yr for HFCVX.

Performance

NFJEX vs. HFCVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus NFJ Dividend Value Fund (NFJEX) 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, NFJEX achieves a 19.17% return, which is significantly higher than HFCVX's 13.70% return. Over the past 10 years, NFJEX has underperformed HFCVX with an annualized return of 9.82%, while HFCVX has yielded a comparatively higher 11.15% annualized return.

NFJEX

• 1D: 1.27%
• 1M: 5.92%
• YTD: 19.17%
• 6M: 19.26%
• 1Y: 32.75%
• 3Y*: 16.48%
• 5Y*: 9.55%
• 10Y*: 9.82%

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)

NFJEX vs. HFCVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NFJEX Virtus NFJ Dividend Value Fund	19.17%	8.46%	5.29%	19.79%	-13.63%	28.90%	-2.13%	25.12%	-10.15%	15.49%
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 NFJEX and HFCVX is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since May 9, 2000	0.89

Over the past year, the correlation between NFJEX and HFCVX has dropped to 0.65 - well below their long-term average of 0.89, suggesting their price drivers have been diverging.

Return for Risk

NFJEX vs. HFCVX — Risk / Return Rank

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

NFJEX

NFJEX Risk / Return Rank: 80
NFJEX Sharpe Ratio Rank: 80
NFJEX Sortino Ratio Rank: 79
NFJEX Omega Ratio Rank: 68
NFJEX Calmar Ratio Rank: 89
NFJEX Martin Ratio Rank: 83

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.

NFJEX vs. HFCVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus NFJ Dividend Value Fund (NFJEX) 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.

	NFJEX	HFCVX	Difference
Sharpe ratio: Return per unit of total volatility	2.60	2.91	-0.31
Sortino ratio: Return per unit of downside risk	3.75	4.22	-0.46
Omega ratio: Gain probability vs. loss probability	1.46	1.51	-0.04
Calmar ratio: Return relative to maximum drawdown	4.55	7.07	-2.53
Martin ratio: Return relative to average drawdown	15.62	21.66	-6.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NFJEX vs. HFCVX - Sharpe Ratio Comparison

The current NFJEX Sharpe Ratio is 2.60, which is comparable to the HFCVX Sharpe Ratio of 2.91. The chart below compares the historical Sharpe Ratios of NFJEX 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

	NFJEX	HFCVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.60	2.91	-0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.89	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.68	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.41	+0.02

Drawdowns

NFJEX vs. HFCVX - Drawdown Comparison

The maximum NFJEX drawdown since its inception was -61.94%, smaller than the maximum HFCVX drawdown of -65.75%. Use the drawdown chart below to compare losses from any high point for NFJEX and HFCVX.

Drawdown Indicators

	NFJEX	HFCVX	Difference
Max Drawdown Largest peak-to-trough decline	-61.94%	-65.75%	+3.81%
Max Drawdown (1Y) Largest decline over 1 year	-7.38%	-3.77%	-3.61%
Max Drawdown (3Y) Largest decline over 3 years	-19.69%	-11.32%	-8.37%
Max Drawdown (5Y) Largest decline over 5 years	-23.29%	-16.81%	-6.48%
Max Drawdown (10Y) Largest decline over 10 years	-39.25%	-39.39%	+0.14%
Current Drawdown Current decline from peak	0.00%	-1.29%	+1.29%
Average Drawdown Average peak-to-trough decline	-9.61%	-8.24%	-1.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	1.23%	+0.91%

Volatility

NFJEX vs. HFCVX - Volatility Comparison

Virtus NFJ Dividend Value Fund (NFJEX) has a higher volatility of 3.89% compared to Hennessy Cornerstone Value Fund (HFCVX) at 2.79%. This indicates that NFJEX's price experiences larger fluctuations and is considered to be riskier than HFCVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFJEX	HFCVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.89%	2.79%	+1.10%
Volatility (6M) Calculated over the trailing 6-month period	9.50%	6.85%	+2.65%
Volatility (1Y) Calculated over the trailing 1-year period	12.92%	9.16%	+3.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.50%	13.26%	+3.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.14%	16.46%	+1.68%

NFJEX vs. HFCVX - Expense Ratio Comparison

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

Dividends

NFJEX vs. HFCVX - Dividend Comparison

NFJEX's dividend yield for the trailing twelve months is around 10.49%, more 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%
NFJEX Virtus NFJ Dividend Value Fund	10.49%	12.61%	3.51%	14.16%	19.01%	6.43%	1.96%	14.20%	27.33%	27.35%	6.05%	2.77%

Frequently Asked Questions

Can I hold both NFJEX and HFCVX in my portfolio?

NFJEX and HFCVX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NFJEX or HFCVX?

NFJEX has higher volatility (3.89%) compared to HFCVX (2.79%). In terms of maximum drawdown, NFJEX dropped -61.94% vs HFCVX's -65.75%.

Which has better risk-adjusted returns?

HFCVX currently has the higher Sharpe Ratio (2.91 vs 2.60), 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.