NWQIX vs. HBFBX
NWQIX (Nuveen Flexible Income Fund) and HBFBX (Hennessy Balanced Fund) are both Diversified Portfolio funds. Over the past 10 years, NWQIX returned 5.75%/yr vs 6.02%/yr for HBFBX. A 0.51 correlation means they provide meaningful diversification when combined. NWQIX charges 0.70%/yr vs 0.49%/yr for HBFBX.
Performance
NWQIX vs. HBFBX - Performance Comparison
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Returns By Period
In the year-to-date period, NWQIX achieves a 5.50% return, which is significantly lower than HBFBX's 6.21% return. Both investments have delivered pretty close results over the past 10 years, with NWQIX having a 5.75% annualized return and HBFBX not far ahead at 6.02%.
NWQIX
- 1D
- 0.10%
- 1M
- 1.11%
- YTD
- 5.50%
- 6M
- 5.80%
- 1Y
- 13.87%
- 3Y*
- 10.75%
- 5Y*
- 4.38%
- 10Y*
- 5.75%
HBFBX
- 1D
- 0.00%
- 1M
- 0.98%
- YTD
- 6.21%
- 6M
- 5.96%
- 1Y
- 12.52%
- 3Y*
- 9.70%
- 5Y*
- 6.55%
- 10Y*
- 6.02%
NWQIX vs. HBFBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NWQIX Nuveen Flexible Income Fund | 5.50% | 11.74% | 6.03% | 11.61% | -13.64% | 4.94% | 5.54% | 18.57% | -4.07% | 9.18% |
HBFBX Hennessy Balanced Fund | 6.21% | 9.90% | 4.81% | 7.62% | 3.83% | 8.07% | -2.98% | 9.71% | 0.06% | 8.34% |
Correlation
The correlation between NWQIX and HBFBX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010 | 0.51 |
The correlation between NWQIX and HBFBX shifts across timeframes, from 0.34 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NWQIX vs. HBFBX — Risk / Return Rank
NWQIX
HBFBX
NWQIX vs. HBFBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Flexible Income Fund (NWQIX) and Hennessy Balanced Fund (HBFBX). 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.
| NWQIX | HBFBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.33 | ||
| Sortino ratioReturn per unit of downside risk | +2.30 | ||
| Omega ratioGain probability vs. loss probability | 1.77 | 1.41 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 4.76 | 3.88 | +0.88 |
| Martin ratioReturn relative to average drawdown | 22.43 | 9.80 | +12.63 |
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Drawdowns
NWQIX vs. HBFBX - Drawdown Comparison
The maximum NWQIX drawdown since its inception was -23.89%, smaller than the maximum HBFBX drawdown of -41.61%. Use the drawdown chart below to compare losses from any high point for NWQIX and HBFBX.
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Drawdown Indicators
| NWQIX | HBFBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.89% | -41.61% | +17.72% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -3.20% | +0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -4.59% | -6.10% | +1.51% |
Max Drawdown (5Y)Largest decline over 5 years | -17.75% | -10.22% | -7.53% |
Max Drawdown (10Y)Largest decline over 10 years | -23.89% | -17.24% | -6.65% |
Current DrawdownCurrent decline from peak | -0.20% | -0.89% | +0.69% |
Average DrawdownAverage peak-to-trough decline | -3.00% | -4.05% | +1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | 1.26% | -0.64% |
Volatility
NWQIX vs. HBFBX - Volatility Comparison
The current volatility for Nuveen Flexible Income Fund (NWQIX) is 1.25%, while Hennessy Balanced Fund (HBFBX) has a volatility of 1.87%. This indicates that NWQIX experiences smaller price fluctuations and is considered to be less risky than HBFBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NWQIX | HBFBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 1.87% | -0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 3.13% | 4.14% | -1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.98% | 5.64% | -1.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.70% | 7.21% | -1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.31% | 8.13% | -1.82% |
NWQIX vs. HBFBX - Expense Ratio Comparison
NWQIX has a 0.70% expense ratio, which is higher than HBFBX's 0.49% expense ratio.
Dividends
NWQIX vs. HBFBX - Dividend Comparison
NWQIX's dividend yield for the trailing twelve months is around 5.50%, more than HBFBX's 1.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HBFBX Hennessy Balanced Fund | 1.76% | 1.90% | 5.40% | 4.62% | 9.50% | 3.79% | 0.95% | 5.20% | 5.51% | 7.62% | 7.76% | 2.53% |
NWQIX Nuveen Flexible Income Fund | 5.50% | 6.09% | 5.20% | 7.84% | 7.02% | 4.39% | 4.82% | 5.71% | 6.23% | 5.67% | 5.52% | 5.70% |
Frequently Asked Questions
NWQIX and HBFBX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HBFBX has higher volatility (1.87%) compared to NWQIX (1.25%). In terms of maximum drawdown, NWQIX dropped -23.89% vs HBFBX's -41.61%.
NWQIX currently has the higher Sharpe Ratio (3.53 vs 2.20), 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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